Document:

Exhibit 10.24

 

 

 

June 30, 2014

 

Mr. Philip J. Young

President and Chief Executive Officer

AmpliPhi Biosciences Corporation

4870 Sadler Road, Suite 300

Glen Allen, Virginia 23060

 

The Fahrenheit Group, LLC appreciates the opportunity
to provide services to AmpliPhi Biosciences Corporation ("Purchaser") and is pleased to confirm the following terms.
Our organization consists of three business lines, Fahrenheit Finance, LLC; Fahrenheit Advisors, LLC; and Fahrenheit HR, LLC (collectively,
"Supplier"), all designed to serve the needs of our clients.

 

This letter will serve as the Master Services
Agreement (this "Agreement"). As such, the parties agree as follows.

 

This Agreement shall commence as of the above
date (the "Effective Date"). This Agreement shall remain in effect until this Agreement is terminated by either party
upon thirty (30) days written notice or as otherwise mutually agreed. Each Statement of Work (as defined below) associated with
this Agreement will remain valid and in force for the specified length of time provided in each Statement of Work, or until this
Agreement is terminated, whichever occurs first.

 

Services:

Consulting, Fractional Financial Management
and Temporary Staffing Services: For each engagement of such services, Supplier will provide to Purchaser an attachment to
this Agreement (each, a "Statement of Work") that will describe, as applicable, the services Supplier will provide, the
consultants Supplier will assign, Supplier's fee and other arrangements, as appropriate.

 

Direct Hire or Contract-to-Hire Placement
Services: All direct hire or contract-to-hire placement fees are contingent on the hiring of a candidate referred to or vetted
by Supplier. Supplier will pre-screen all candidates prior to submitting candidates to Purchaser. However, Purchaser is solely
responsible for the hiring and the adequacy of the hiring of any candidate provided by Supplier.

 

Services provided pursuant to this Agreement
shall be performed as outlined on the applicable Statement of Work. Acceptance of a Statement of Work shall be made in writing
by both parties. To the extent the terms and conditions of any Statement of Work are inconsistent with the terms and conditions
of this Agreement, the terms and conditions of the Statement of Work shall be controlling. For direct hire engagements, unless
the terms of the engagement are different than those outlined in this Agreement no Statement of Work shall be completed.

 

During the performance of any Statement of
Work, Supplier may not sign any contracts, administer any employee benefit plans or have sign-off authority on final business decisions
on behalf of the Purchaser.

 

Fees and Invoices:

Consulting, Fractional Financial Management
and Temporary Staffing Services: Invoices shall be submitted by Supplier to Purchaser every two weeks, unless other arrangements
are agreed-upon in the Statement of Work. Payment of invoices shall be made within fifteen (15) days of the invoice date.

 

Direct Hire and Conversion Placement Fees:
Such fees are based upon the agreed annualized first year base compensation of a placed candidate. All amounts for direct hire
and conversion placement services are payable net fifteen (15) days from the starting date of employment. The fees and applicable
sales and service taxes are the responsibility of Purchaser.

 

If Supplier is required by law to pay overtime,
the billing rate for overtime hours will be adjusted in the same proportion as the employee's pay. For example. if the employee
is entitled to receive 1 1⁄2 times base pay for overtime hours, the billing rate for those hours will be 1 1⁄2 times
the amount provided in the applicable Statement of Work.

 

    	 	 

     

    

 

 

 

Failure to make timely payments shall constitute
grounds for termination of this Agreement. In the event of a late payment of an undisputed amount, Supplier may impose an interest
charge of 6% per annum if an amount is more than 60 days delinquent. In addition, if collection becomes necessary. Purchaser agrees
to pay reasonable costs of collection including attorney fees.

 

Hiring of Supplier Candidates, Consultants
and Employees:

Supplier expends considerable cost and effort
to advertise, recruit, evaluate and, as applicable, retain its, employees, consultants and candidate pool. as applicable. Therefore,
unless otherwise agreed upon in a signed Statement of Work:

 

		·	For direct hire, temporary staffing and "temp to perm" engagements, if Purchaser wishes
to hire a Supplier candidate or a candidate vetted by Supplier. Purchaser agrees to pay Supplier a placement fee calculated in
accordance with this paragraph (the "Placement Fee"). The Placement Fee is a percentage of the candidate's first year
annual base salary, or if hourly, the equivalent of the hourly rate times the number of hours worked on an annual basis. The percentage
shall be 25% for direct hire candidates.

		·	For temporary staffing and "temp to perm" engagements, the percentage shall be (a) 25%
if the candidate is hired by Purchaser during the first 180 days after the candidate commences providing services for Purchaser
and (b) 0% commencing 180 days after the candidate commences providing services for Purchaser and at any time thereafter.

		·	For all other engagements, including advisory, consulting, fractional and temporary staffing of
a core, full time Supplier employee or contractor, if Purchaser wishes to hire a Supplier employee or contractor under any circumstance,
such Placement Fee shall be increased from 25% to 50%, as calculated above, unless otherwise agreed to in writing between Purchaser
and Supplier.

 

Purchaser may not solicit Supplier employees
for hire. The foregoing does not prevent Purchaser from placing general advertisements not specifically directed at Supplier employees.
If Purchaser wishes to hire a Restricted Supplier Employee (as defined below), Purchaser must first obtain Partner level approval
from Supplier before approaching or holding such discussions with such employee.

 

If Purchaser or any Affiliate (as defined below)
of Purchaser hires (a) any Supplier consultants or candidates that Supplier introduced, whether directly or indirectly, within
a twelve month period from the date of introduction, or (b) any core, full time Supplier employee whether or not introduced to
Purchaser by the Supplier, (each, a "Restricted Supplier Employee"), Purchaser agrees to pay Supplier the Placement Fee.
Further, during the period of each engagement that continues beyond twelve months of introduction or within twelve months following
the termination of any consultant's services to Purchaser under this Agreement, Purchaser agrees to pay Supplier the Placement
Fee if Purchaser or any Affiliate of Purchaser hires or engages, whether directly or indirectly, any such consultant. For purposes
hereof, "Affiliate" means any person or entity controlled in part of in full by Purchaser.

 

Change in Engagement, Roles, Responsibilities,
and Duties:

If Purchaser wishes to extend, change the working
date and/or materially change the job duties under this Agreement or a Statement of Work, or hire on a full time basis any Supplier
consultant, Purchaser shall negotiate such arrangements with a Supplier Partner, Managing Director or Director and not directly
with the consultant.

 

Confidentiality:

Supplier acknowledges that in the course of
performing services under this Agreement, its employees and/or independent contractors will have access to Confidential Information
(as defined below) about Purchaser's business, operations, potential business partners, suppliers and customers. Supplier agrees
that, except as directed by Purchaser in writing, Supplier and its employees and/or independent contractors shall not at any time
during or after the term of this Agreement (a) disclose any Confidential Information to any third party, (b) permit any third party
to examine and/or make copies of any reports, documents or electronic data containing Confidential Information (whether prepared
by Supplier or provided to Supplier) or (c) use any Confidential Information for any reason other than in the performance of services
under this Agreement. Upon termination of this Agreement, Supplier shall return to Purchaser, or at Purchaser's request, destroy
all reports, documents, electronic data, and other matter in Supplier's possession or under Supplier's control that contain or
relate to Confidential Information. Supplier shall inform all of its employees and/or independent contractors of their confidentiality
obligations under this Agreement and Supplier shall be solely responsible for the actions of its employees and/or independent contractors
and shall use its best efforts to ensure its employees and/or independent contractors comply with their confidentiality obligations.

 

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For purposes hereof, "Confidential Information"
means any information that is not already generally available to the public concerning the business, operations, potential business
partners, suppliers, and customers of Purchaser and its Affiliates. Confidential Information shall include information relating
to business operations (including without limitation customers, suppliers, equipment, services of employees, financial information
or methods of operation), know-how, trade secrets, technical and economic data, computer programs, systems documentation, designs,
procedures, formulas, improvements, ideas (including without limitation patent information), copyrights or publications of a confidential
nature pertaining to Purchaser, its products and services or its potential business partners, suppliers and customers.

 

Equal Employment and Safety:

Both parties agree to comply with all applicable
equal employment opportunity laws, including but not limited to, Title VII of the 1964 Civil Rights Act, the Civil Rights Act of
1991, The Americans with Disabilities Act, and if applicable, the affirmative action requirements of the Executive Order 11246,
the Rehabilitation Act of 1973, as amended, and the Vietnam Era Veterans Readjustment Assistance Act of 1974, as amended. Supplier
agrees to defend, reimburse, indemnify and hold Purchaser and its Affiliates harmless from all fines, claims, judgment or penalties
and reasonable attorneys' fees incurred by Purchaser and its Affiliates as a result of alleged violations by Supplier, or its employees
or agents of federal, state or local laws or ordinances, including, without limitation, those related to equal employment opportunity.
Purchaser confirms that its premises comply with all government requirements regarding safe working conditions and that Supplier's
professionals working on Purchaser's premises will be given any required safety training and information. In addition, Purchaser
agrees to defend. reimburse, indemnify and hold Supplier harmless from all fines, claims, judgment or penalties and reasonable
attorneys' fees incurred by Supplier as a result of alleged violations by Purchaser, or its employees or agents (other than Supplier's
consultants) of federal, state or local laws or ordinances relating to the health, safety and wellbeing of staff assigned at Purchaser's
facility.

 

Guarantees:

Consulting, Fractional Financial Management
and Temporary Staffing Services: Supplier's services provided hereunder shall be delivered in a professional and workmanlike
manner and in keeping with the standards prevalent in the industry and any person providing services for Purchaser will have the
credentials stated on such person's resume or as otherwise described by Supplier, If for any reason Purchaser is not satisfied
with a consultant assigned during the engagement. Supplier will immediately remove that person and furnish a replacement as soon
as possible. Except as specifically set forth in this Agreement, Supplier makes no other warranty, either expressed or implied.
Supplier will not be liable for incidental, indirect or consequential damages or lost profits, and Supplier's maximum liability
for any specific engagement, in any case, will not exceed the fees actually paid to Supplier for that engagement.

 

Direct Hire Placement Services: If the
Placement Fee is paid in full within fifteen (15) calendar days after the starting date of employment, a one hundred eighty (180)
day guarantee will be in effect. If the employee's employment terminates for any reason within the guarantee period, Supplier will
issue a credit memo for a portion of the fee towards a replacement hire or any future direct hire placement service or conversion
fee. If the employment is terminated within thirty (30) calendar days after the starting date of employment, the credit will equal
the amount of the Placement Fee. If the employment is terminated between thirty-one (31) and one hundred eighty (180) calendar
days after the starting date of employment, the credit will be equal to equal (x) the amount of the Placement Fee multiplied by
(y) 1/180 multiplied by (z) the number of days remaining in the guarantee period as of the last day of employment.

 

Independent Contractor:

The parties agree that the relationship between
them is that of independent contractor and that neither party shall have any authority to represent or bind the other and that
neither party shall hold itself out or have any authority as an agent of the other for any purpose whatsoever. Nothing herein shall
be construed as creating a principal and agent, joint venture, or any other type of relationship besides independent contractor
between Purchaser and Supplier. Supplier shall remain solely responsible for the payment of all wages and benefits for each of
its employees and consultants, including those assigned to Purchaser, and Purchaser shall not be responsible for the withholding
or payment of any payroll deductions or taxes, or the provision of workers' compensation or unemployment insurance coverage, for
or on behalf of employees or consultants of Supplier or for any payment or expense in respect of claims arising under any employee
benefit plans of any person. As between Supplier and Purchaser, Supplier shall remain solely responsible for any applicable federal,
state or local withholding or income taxes, paying Social Security taxes, and providing unemployment compensation and workers'
compensation insurance or coverage for its employees and contractors providing services in accordance with this Agreement or any
Statement of Work.

 

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Indemnification:

Indemnity by Purchaser: Purchaser will
indemnify, defend and hold harmless Supplier and its affiliates and their respective officers, directors, employees, agents, servants
and invitees from and against all losses, damages, demands, claims, suits, and other liabilities, including attorney fees and other
expenses of litigation in connection with performance of the services contemplated hereunder and arising out of the acts or omissions
of Purchaser, its employees or agents (other than Supplier and its employees and agents).

 

Indemnity by Supplier: Supplier will
indemnify, defend and hold harmless Purchaser and its affiliates and their respective officers, directors, employees, agents, servants
and invitees from and against all losses, damages, demands, claims, suits, and other liabilities, including attorney fees and other
expenses of litigation in connection with performance of the services contemplated hereunder and arising out of the acts or omissions
of Supplier, its employees or agents.

 

Limitation of Liability: Except in connection
with the indemnification obligations set forth in this Section, in no event shall either party be liable to the other for any indirect,
incidental, consequential, or punitive damages even if such party or its representative has been advised of the possibility of
such loss. The forgoing provisions shall be enforceable to the maximum extent permitted by applicable law. Supplier's maximum monetary
liability for any Statement of Work, in any case, will not exceed the fees actually paid to Supplier for that engagement.

 

Insurance:

Supplier shall provide written evidence of
the existence and maintenance of insurance policies upon Purchaser's request. If any of such insurance policies are to be modified
or canceled during the term of this Agreement in a way which would materially affect the coverage required hereunder. Supplier
shall provide written notice to the Purchaser at least thirty (30) days prior to such modification or cancellation.

 

Purchaser shall maintain the following insurance
that shall provide coverage to the Supplier and the individual serving as an interim Chief Financial Officer ("CFO): Directors'
& Officers' insurance; Commercial General Liability insurance; and Employment Practices Liability insurance. Purchaser shall
ensure that these insurance policies provide coverage for the interim CFO working for the Purchaser during the duration of this
contract and tail or extended reporting coverage for all claims made policies for actions undertaken during the contract period.
For purposes of this section, the Purchaser shall agree to indemnify the interim CFO and Supplier in the same manner and to the
same degree as it does for full-time officers.

 

Entire Agreement; Assignments, etc.:

This Agreement, including each Statement of
Work, constitutes the entire understanding between the parties hereto pertaining to the subject matter hereof and supersedes all
prior and contemporaneous agreements, understandings, negotiations, and discussions, whether oral or written, of the parties. There
are no warranties, representations, promises, covenants, or other agreements between the parties other than those expressly mentioned
in this Agreement. No supplement, modification, or amendment of this Agreement or any Statement of Work shall be binding unless
executed in writing by an authorized representative of each party.

 

Neither party may assign its rights or delegate
its duties under this Agreement either in whole or in part without the prior written consent of the other, provided that each party
may assign and otherwise transfer this Agreement in whole and without the consent of the other party as part of a merger or sale
of all or substantially all of its assets, whether by way of merger, acquisition of stock or assets or operation of the law. This
Agreement will bind and inure to the benefit of each party's successors and permitted assigns.

 

This Agreement shall be governed by and construed
in accordance with the laws of the Commonwealth of Virginia, without regard to the conflict of law. No action arising out of this
Agreement, regardless of the form thereof, may be brought by either party more than two years after the cause of action has accrued
or, if later, one year after the date upon which the party entitled to bring such action becomes aware of the facts or other circumstances
underlying or otherwise providing the basis for such action.

 

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Notices:

All notices required under this Agreement shall
be deemed given, if and when delivered personally or via courier in writing to the party or its designated agent, or three (3)
business days after being mailed by United States certified mail, return receipt requested, postage prepaid and properly addressed,
Notices shall be addressed as follows:

 

	 	If to Supplier:	If to Purchaser:	 
	 	Mr. J. Keith Middleton	Mr. Philip J. Young	 
	 	Partner	President and Chief Executive Officer	 
	 	The Fahrenheit Group, LLC	AmpliPhi Biosciences Corporation	 
	 	1700 Bayberry Court, Suite 201	4870 Sadler Road, Suite 300	 
	 	Richmond, VA 23226	Glen Allen, Virginia 23060	 

 

Counterparts; Electronic Delivery:

This Agreement may be executed and delivered
in any number of counterparts, each of which shall be an original, but all of which together shall constitute one and the same
instrument, Facsimile, photostatic and POF copies of signatures to this Agreement (including copies received as attachments to
electronic mail) shall be deemed to be originals and may be relied upon with the same force and effect as originals,

 

IN WITNESS WHEREOF, the parties have
executed this Agreement, under the hands of their duly authorized officers or managing agents, as of the Effective Date.

 

	AmpliPhi Biosciences Corporation	 	The Fahrenheit Group, LLC
	 	 	 	 	 
	By:	 /s/ Philip Young	 	By:	 /s/ Rick Reinecke
	 	 	 	 	 
	Name:	 Philip Young	 	Name: 	Rick Reinecke
	 	 	 	 	 
	Title: 	CEO	 	Title: 	Partner

 

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Statement of Work #1

 

Purchaser: AmpliPhi Biosciences Corporation Date of Master Agreement:
June 30, 2014

 

Fahrenheit Advisors, LLC, an affiliate of The Fahrenheit Group ("Supplier")
and AmpliPhi Biosciences Corporation ("Purchaser") enter into this Statement of Work #1 on June 30, 2014, 2014. This
Statement of Work is governed by the terms of the letter agreement dated June 30, 2014 (the "Master Agreement") by and
between Supplier and Purchaser. Unless otherwise defined in this Statement of Work, terms set forth in initial uppercase letters
shall have the meanings ascribed to them in the Master Agreement. This Statement of Work contains details regarding an engagement
of the services of Supplier pursuant to the Master Agreement.

 

		·	Professionals assigned to this engagement:

		o	Dave Bosher will be responsible for the services provided to Purchaser under the scope of services as outlined below.

		o	Supplier may utilize other resources in the delivery of services, if and as needed, with pre-approval by Purchaser.

 

		·	Services to be Provided: Supplier shall provide interim Chief Financial Officer duties as agreed-upon.

 

		·	Limitation of Services:

		o	Supplier personnel will not make final business decisions on behalf of Purchaser.

 

		·	Start Date: June 30, 2014

 

		·	Approximate End Date: To be determined. Supplier requires a 30-day notice for discontinuation of services.

 

		·	Fees:

 

Resource

 

Dave Bosher, Managing Director

 

Commencement date through 6/30/14
- $300 per hour

	Commencing July 1, 2014	- $5,000 per month for up to 20 hours (Hours in any calendar month in excess of 20 hours to be billed at $300 per hour)

 

If other resources are required, the following, outlines our
typical rates.

 

	Partner/Managing Director	 	$	300	 
	Director	 	$	150 - $195	 
	Senior Consultant/Consultant	 	$	90 - $150	 
	Accounting Staff/Analyst	 	$	60 - $90	 

 

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If Purchaser wishes to change the terms of this Statement of Work,
arrangements must be made in writing with a Fahrenheit Partner or Managing Director.

 

	Purchaser	 	Fahrenheit Advisors, LLC
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	By:	 /s/ Philip Young	  Date: 6/30/14	 	By:	/s/ Rick Reinecke           	Date: 6/30/14
	 	 	 	 	 
	Name: 	Philip Young	 	Name:	Rick Reinecke	 
	 	 	 	 	 
	Title:	 CEO	 	Title:	Partner	 

 

     7Exhibit 10.25

 

***Text Omitted and Filed Separately

With Securities and Exchange Commission

Confidential Treatment Requested

Under 17 C.F.R. Section 200.80(b)(4)

and 240.24b-2

  

DATED 4th November 2015 (“Agreement
Date”)

 

 

		(1)	AmpliPhi
Bioscience Corporation

 

		(2)	The
University of Leicester

 

 

 

COLLABORATION
Agreement 

 

 

 

    	 	 	 

     

    

 

COLLABORATION
Agreement

 

(the ‘Agreement’)

 

BETWEEN:

 

		(1)	AmpliPhi Biosciences Corporation, having offices at 3579 Valley Centre Drive, Suite 100, San Diego,
CA 92130 (“APHB”) (the ‘Sponsor’); and

 

		(2)	The University of Leicester of University Road, Leicester LE1 7RH, United Kingdom (‘Leicester’).

 

Each a ‘Party’ and together
the ‘Parties’.

 

INTRODUCTION

 

		(A)	Leicester through its employee Prof Martha Clokie has materials and know-how for use in the study
of bacteriophages specific for C. difficile.

 

		(B)	AmpliPhi wish to develop a phage therapeutic to resolve C. difficile infections and are
funding Leicester to carry out development work.

 

AGREED

 

		1	Interpretation and Defined Terms in this Agreement

 

In this Agreement, the terms
set out below will have the following meanings:-

 

		1.1	‘Arising IP’ means all (or any part) of the IP written, originated, conceived or made in the conduct of the Project
by, or on behalf of, or jointly with Leicester.

 

		1.2	‘Background IP’ means:-

 

		1.2.1	any IP owned by either Party at the start of the Project; and

 

		1.2.2	any specific IP necessary to the Project which the owning Party agrees in writing to make available.

 

		1.3	‘Confidential Information’ means any commercial, technical and other information and data (of whatever nature and
form) proprietary to the Party disclosing it (the ‘Disclosing Party’) which is directly or indirectly disclosed or
made available by or on behalf of the Disclosing Party to the other Party (the ‘Receiving Party’), whether in writing,
orally, in drawings, by site visits, by access to computer software or data or in any other manner.

 

		1.4	‘Contract Period’ means from 13th November 2015 until 12th November 2018.

 

		1.5	‘Costs’ means the contribution of the Sponsor to the costs of the Project as set out in Annex 2.

 

    	 	- 1 -	 

     

    

 

		1.6	‘Intellectual Property’ and ‘IP’ means all patents, registered designs, trademarks and service marks
(whether registered or not), copyright, database rights, plant breeders rights, design right, know-how, information and
all similar property including that subsisting (in any part of the world) in inventions, designs, performances, computer
programs, semiconductor topographies, confidential information, business names, goodwill and the styles of presentation of
goods or services and in applications for protection of them in any jurisdiction.

 

		1.7	‘Licence Agreement’ means the licence agreement between Leicester and the Sponsor dated 17th
September 2013.

 

		1.8	‘Principal Investigator’ means Professor Martha Clokie (or such other employee or employees of Leicester as the
Parties reasonably agree).

 

		1.9	‘Project’ means the project as described in Annex 1 under the direction of the Principal Investigator.

 

		1.10	‘Results’ means any results generated by or on behalf of a Party under the Project including materials, data and
information and other outputs in any format.

 

		1.11	References to ‘including’ in this Agreement in the context of a list or description of items shall be construed
as meaning ‘including without limiting the generality of the foregoing’, such that the items following are merely examples
of items which are included and/or items which are identified as being included for the avoidance of any doubt as to their inclusion,
and such items are not descriptive of the class of items which may be included.

 

		1.12	The headings in this Agreement are for ease of reference only and shall not affect its interpretation.

 

		2	Research Work

 

		2.1	Leicester will start to perform the Project promptly after the commencement date of the Contract Period and will use its reasonable
endeavours to perform the Project substantially in accordance with Annex 1. The Sponsor acknowledges that the Project is research
based and experimental in nature and as such, specific results cannot be guaranteed.

 

		3	Reports and Conferences

 

		3.1	Leicester will submit a final report to the Sponsor within three (3) months of:-

 

		3.1.1	the end of the Contract Period; or if earlier

 

		3.1.2	the termination of this Agreement.

 

		3.2	During the term of this Agreement, representatives of Leicester will meet or otherwise communicate with representatives of
the Sponsor at agreed times and places to discuss the progress and Results, ongoing plans and proposed changes in the Project.
In addition to the Costs, the Sponsor will pay travel costs reasonably incurred by Principal Investigators or other Leicester representatives
as may be required to attend such meetings with representatives of the Sponsor.

 

		4	Costs, Billings and other Support

 

		4.1	Leicester will invoice the Sponsor, in pounds Sterling, quarterly in advance, for the costs outlined in Annex 2, except that
any costs incurred under Clause 3.2 will be paid in arrears.

 

    	 	- 2 -	 

     

    

 

		4.2	The Costs will be paid by the Sponsor within 30 days of the date of Leicester’s invoice. The Sponsor will also pay VAT
at the prevailing rate, if applicable.

 

		4.3	If the Sponsor fails to pay any Costs on the due date, Leicester may, without prejudice to its other rights and remedies, charge
the Sponsor interest in respect of the sum overdue in accordance with The Late Payment of Commercial Debts (Interest) Act 1998
from the due date for payment to the date of actual payment (both dates inclusive) and Leicester will be entitled to reimbursement
of all expenses (including legal fees) incurred with respect to collection of overdue Costs.

 

		4.4	The Sponsor shall provide support and contribute to the Project as set out in Annex 1.

 

Leicester shall not be liable
for any delay or non-performance of its obligations hereunder where such delay or non-performance is as a result of the Sponsor’s
failure to provide its support or contribution including but not limited to the Costs.

 

		5	Publicity

 

		5.1	The Sponsor will not use the name of Leicester, nor of any member of Leicester’s Project staff, in any publicity, advertising
or news release without the prior written approval of an authorised representative of Leicester. Other than for annual reporting
purposes, Leicester will not use the name of the Sponsor, nor any employee of the Sponsor, in any publicity without the prior written
approval of the Sponsor. Notwithstanding the foregoing, Sponsor may disclose any information, including the name of Leicester,
required to be disclosed under applicable laws or regulations, including regulations of the United States Securities and Exchange
Commission or any applicable stock exchange.

 

		6	Confidentiality

 

		6.1	Each Party will not during the Agreement and for a period of three (3) years after the date of termination of this Agreement
disclose the other Party’s Confidential Information.

 

		6.2	Leicester will treat Arising IP and the Results as Confidential Information of the Sponsor and, except as set forth in Clause
8, shall obtain the prior written consent of the Sponsor before disclosing the same to any third party, such consent not to be
unreasonably withheld or delayed.

 

		6.3	The obligations in Clauses 6.1 and 6.2 shall not apply or shall cease to apply to Confidential Information which:

 

		6.3.1	has been received from a third party who are not bound by an obligation of confidentiality to the Disclosing Party;

 

		6.3.2	was already in the Receiving Party’s possession prior to its acquisition from the Disclosing Party as evidenced by written
records;

 

		6.3.3	was independently generated by the Receiving Party as evidenced by written records;

 

		6.3.4	is in or comes into the public domain other than by reason of a breach of this Agreement;

 

		6.3.5	is required to be disclosed by law or a court or other competent authority including, but not limited to, disclosures required
under the Freedom of Information Act 2000, the Freedom of Information (Scotland) Act 2002 and the Environmental Information Regulations
2004; or

 

    	 	- 3 -	 

     

    

 

		6.3.6	is disclosed with prior written consent of the Disclosing Party.

 

		7	Anti-Corruption and Bribery Act

 

		7.1	Each Party:

 

		7.1.1	shall comply with all applicable laws, statutes, regulations relating to anti-bribery and anti-corruption including, but not
limited to, the Bribery Act 2010 and not engage in any activity, practice or conduct which would constitute an offence under the
Bribery Act 2010 if such activity, practice or conduct had been carried out in the UK;

 

		7.1.2	warrants and represents (without limiting the generality of 7.1.1) to the other that it has not offered to give or agreed to
give to any person any gift or consideration of any kind as an inducement or reward for doing or forbearing to do or for having
done or forborne to do any act in relation to the obtaining or execution of this Agreement or for showing or forbearing to show
favour or disfavour to any person in relation to this Agreement;

 

		7.1.3	shall procure that any person who is performing services or providing goods in connection with this Agreement abides by the
terms of this Agreement.

 

		7.2	The Sponsor shall:

 

		7.2.1	promptly report to Leicester any request or demand which if complied with would amount to a breach of either this Agreement
or the Bribery Act 2010.

 

		7.3	The obligations of the Parties under this Agreement impose no further obligation on either Party:

 

		7.3.1	to prescribe, provide favourable status for, or otherwise support the other Party’s or a third party’s products
or services; or

 

		7.3.2	to supply services or to provide anything other than that which is set out in this Agreement.

 

		7.4	Breach of this Clause 7 shall be deemed a material breach of this Agreement.

 

		8	Publications

 

		8.1	The Sponsor recognises that Leicester staff will normally wish to publish the Results and/or Arising IP. Leicester will:

 

		8.1.1	provide to Sponsor a draft of any proposed paper or article at least 30 days prior to its submission for publication; and

 

		8.1.2	provide a draft of any proposed oral presentation to the Sponsor at least 30 days prior to the date of the oral presentation;
and

 

    	 	- 4 -	 

     

    

 

		8.1.3	acknowledge all contributors to the Results and/or Arising IP within the paper, article and/or presentation.

 

		8.2	Within 30 days of the date of provision to the Sponsor under Clause 8.1, the Sponsor may in writing:-

 

		8.2.1	notify Leicester of its approval; or

 

		8.2.2	request reasonable amendments to protect the Sponsor’s commercial interests; and/or

 

		8.2.3	request a reasonable delay to publication (limited to a
maximum of 30 days from the date of receipt of the Sponsor’s response) to the extent required to file patent applications
in such Arising IP.

 

		8.3	If Leicester receives no notification under Clause 8.2 within 30 days of the date of provision to the Sponsor, the Sponsor
will be deemed to have given approval. Leicester will comply with any reasonable requests provided timely pursuant to Clause 8.2.

 

		8.4	The Sponsor will not publish the Results and/or Arising IP without the prior written consent of Leicester, such consent at
Leicester’s sole discretion but not to be unreasonably withheld.

 

		9	Intellectual Property

 

		9.1	All Background IP used in connection with the Project shall remain the property of the Party to whom it belonged prior to the
commencement of the Project. For the avoidance of doubt, any IP licenced to AmpliPhi under the Licence Agreement shall remain subject
to the Licence Agreement.

 

		9.2	All rights to Arising IP under the Project shall belong in the first instance to the Sponsor. Leicester hereby assigns to Sponsor
all right, title and interest to any Arising IP.

 

		9.3	The Sponsor may, at its sole cost, apply for patent or other IP protection in the Sponsor’s name for any Arising IP.
Leicester will cooperate with the Sponsor in executing such documents as may be reasonably required in the prosecution of such
application(s).

 

		9.4	The Sponsor will pay all reasonable costs incurred by Leicester for any assistance that Leicester provides to the Sponsor in
respect of Clause 9.3 and/or in support of any application for patent or other IP protection.

 

		9.5	The Sponsor will not allow to lapse its rights to apply for protection of or prosecution or maintenance of the protection of
the Arising IP without first notifying Leicester in writing of its intention not to apply for protection of, or prosecution or
maintenance of the protection of, the Arising IP and without offering rights to the Arising IP and rights to protect, prosecute
and maintain the protection of the Arising IP to Leicester free of charge. Leicester will then be free to file or continue prosecution
or maintain any such application(s) and to maintain any protection in any jurisdiction at Leicester’s sole expense.

 

		9.6	The Sponsor will grant to Leicester a perpetual, non-exclusive, sub-licensable, royalty free licence to use the Arising IP
and the Results for academic research and teaching purposes.

 

    	 	- 5 -	 

     

    

 

		10	Grant of Rights

 

		10.1	The Sponsor grants to Leicester a non-exclusive, sub-licensable, royalty-free licence to use the Arising IP and Results to
the extent necessary for the purposes of the Project.

 

		10.2	The Parties grant to each other a royalty-free right to use each other’s Background IP to the extent required for the
purpose of the Project (during the Contract Period only) and subject to any third party rights to such Background IP.

 

		10.3	If the Sponsor requires access to Background IP owned by Leicester (that is not already licenced to Sponsor under the Licence
Agreement), Leicester expresses its willingness to grant a separate non-exclusive licence:

 

		10.3.1	only to the extent required to commercialise the Results and/or Arising IP;

 

		10.3.2	upon fair and reasonable commercial terms to be agreed; and

 

		10.3.3	subject to any third party rights to such Background IP.

 

		11	Term and Termination

 

		11.1	This Agreement will continue until the end of the Contract Period unless terminated in accordance with this Clause 11 or by
mutual written agreement of the Parties.

 

		11.2	Either Party may terminate this Agreement on written notice forthwith, if:

 

		11.2.1	the other Party commits a material breach of this Agreement which has not been remedied after 90 days written notice of the
breach (such notice expressly referring to possible termination of this Agreement); or

 

		11.2.2	the Principal Investigator becomes unable or unwilling to continue the Project, and a mutually acceptable substitute is not
available (such an event not to be treated as a breach of this Agreement).

 

		11.3	Leicester may terminate this Agreement forthwith if the Sponsor enters into any arrangement or composition with its creditors,
commits any act of bankruptcy or (being a corporation) if an order is made or an effective resolution is passed for its winding
up (except for the purposes of amalgamation or reconstruction), or if a petition is presented to court, or if a receiver and manager,
receiver, administrative receiver or administrator is appointed in respect of the whole, or any part of, the Sponsor’s undertaking
or assets or there are reasonable grounds for anticipating the occurrence of any of these events within the foreseeable future.

 

		11.4	Either Party may terminate this Agreement upon written notice to Leicester according to the following schedule:

 

	
        Contract Year
	 	Cancellation Notice Period1
	November 13, 2015-November 12, 2016	 	12 months
	November 13, 2016-November 12, 2018	 	6 months

 

1Earliest date termination
can take effect is November 13, 2016

 

    	 	- 6 -	 

     

    

 

		11.5	On termination of this Agreement (except for termination by the Sponsor under Clause 11.2.1) the Sponsor will pay all
Costs falling due for payment prior to termination and any non-cancellable costs incurred after the date of termination arising
from commitments reasonably incurred and/or entered into by Leicester in connection with the performance of the Project prior to
the date of termination.

 

		11.6	Subject to Clause 9, termination of the Agreement by either Party for any reason shall not affect the rights and obligations
of the Parties accrued prior to the effective date of termination of this Agreement. No termination of this Agreement, for any
reason, shall affect the Sponsor’s rights and duties under Clause 9. Those clauses of this Agreement which are expressly
or impliedly intended to continue after termination shall continue in effect after termination. Clauses 4, 6, 9 and 10 will expressly
continue after the termination of this Agreement.

 

		12	Independent Contractor

 

		12.1	In the performance of the Project under this Agreement Leicester shall be deemed to be and shall be an independent contractor
and, as such, Leicester will not be entitled to any benefits applicable to employees of the Sponsor.

 

		12.2	Neither Party is authorised or empowered to act as agent for the other for any purpose and shall not on behalf of the other
enter into any contract, warranty, or representation as to any matter. Neither shall be bound by the acts or conduct of the other.

 

		13	Liabilities

 

		13.1	Notwithstanding any other provisions in this Agreement, nothing in this Agreement shall exclude or limit either Party’s
liability for the following:

 

		13.1.1	death or personal injury resulting from negligence;

 

		13.1.2	fraud or statements made fraudulently;

 

		13.1.3	any other acts or omissions for which the governing law prohibits the exclusion or limitation of liability.

 

		13.2	Save as provided in Clause 13.1, Leicester will not be liable for any loss of profit, loss of business, loss of goodwill, loss
of savings, claims by third parties, loss of anticipated savings, indirect loss or consequential loss whatsoever and howsoever
caused including but limited to in relation to the supply of Materials (even if caused by Leicester’s negligence and/or breach
of contract and even if Leicester was advised that such loss would probably result).

 

		13.3	Subject to Clause 13.1 of this Agreement, Leicester’s total liability for any claims, losses, damages or expenses whatsoever
and howsoever caused (even if caused by Leicester’s negligence and/or breach of contract) shall be limited for each event
or series of linked events as follows:

 

		13.3.1	in relation to liability arising out of a breach or negligence in connection with this Agreement to a maximum sum equal to
the total Costs payable by the Sponsor to Leicester under the Agreement, or £400,000 whichever is the greater;

 

		13.3.2	in relation to liability outside the scope of Clause 13.3.1, to £400,000.

 

    	 	- 7 -	 

     

    

 

		13.4	Whilst Leicester will use all reasonable endeavours to ensure the accuracy of the work performed and any information and Results
given, Leicester makes no warranty, express or implied, as to accuracy and, subject to Clause 13.1 will not be held responsible
for any consequence arising out of any inaccuracies or omissions unless such inaccuracies or omissions are the result of Leicester’s
negligence.

 

		13.5	The Sponsor acknowledges that the nature of the Project is research based and the application of any Results will not be thoroughly
tested. Accordingly, subject to Clause 13.1, Leicester will not be liable for any claims, losses, damages or expenses whatsoever
and howsoever caused arising out of any use (or interpretation) by the Sponsor or any other party of the Results (or any product
or process generated out of them), notwithstanding that the formulation of such product or process may be based upon the Results.

 

		14	Third Party Rights

 

		14.1	The Parties to this Agreement do not intend that any of its terms will be enforceable by virtue of the Contracts (Rights of
Third Parties) Act 1999 by any person not a Party to it.

 

		15	Entire Agreement

 

		15.1	Each Party acknowledges that this Agreement and the Annexes contains the whole agreement between the Parties in respect of
its subject matter and supersedes all prior arrangements agreements and understandings between them relating to the subject matter.
It is acknowledged that the Annexes form part of this Agreement. For the avoidance of doubt, this Agreement is not intended
to supersede the Licence agreement between the Parties dated 17th September 2013.

 

		16	Force Majeure

 

		16.1	Any failure or delay by either Party in the performance of its obligations pursuant to this Agreement which is due to a force
majeure event will not be deemed a default of this Agreement or a ground for termination.

 

		17	Assignment

 

		17.1	This Agreement shall not be assigned by either Party without the prior written consent of the other, such consent not to be
unreasonably withheld or delayed. Notwithstanding the foregoing, Sponsor may assign this Agreement in connection with
any merger, consolidation or sale of all or substantially all of the assets of Sponsor to which this Agreement relates.

 

		18	Variation

 

		18.1	Any variation to this Agreement (and/or the Project) shall be in writing and signed by authorised signatories for both Parties.

 

		19	Severability

 

		19.1	If any provision of this Agreement is declared void or unenforceable, such provision shall be severed from this Agreement,
which shall otherwise remain in full force and effect.

 

    	 	- 8 -	 

     

    

 

		20	Waiver

 

		20.1	No failure, delay relaxation or indulgence on the part of either Party in exercising or partial exercise of any right hereunder
shall operate as a waiver of such rights.

 

		21	Notices

 

		21.1	Any notice, demand or communication in connection with this Agreement will be in writing and may be delivered by hand, first
class post, Special Delivery post but not by email addressed to the recipient below (or another person which the recipient has
notified in writing to the sender in accordance with this Clause 21.1, to be received by the sender not less than seven days before
the notice is despatched).

 

		21.1.1	For Leicester — to Head of Commercial Contracts, Enterprise and Business Development Office, University of Leicester,
University Road, Leicester, LE1 7RH, United Kingdom

 

		21.1.2	For the Sponsor — M. Scott Salka, CEO, AmpliPhi Biosciences 3579 Valley Centre Drive, Suite 100, San Diego, CA 92130
with copies to:

 

		21.1.3	Tom Coll, Cooley LLP, 4401 Eastgate Mall, San Diego, CA 92121

 

		21.2	The notice, demand or communication will be deemed to have been duly served:

 

		21.2.1	if delivered by hand, at the time of delivery;

 

		21.2.2	if delivered by first class post or Special Delivery post, 48 hours after being posted (excluding days other than business
days in England).

 

		21.3	The contacts for academic issues and day to day management of the Project will be:

 

		21.3.1	For Leicester: - Dr Martha Clokie, Dept Infection, Immunity & Inflammation, University of Leicester, Maurice Shock Medical
Sciences Building, University Road. Leicester, LE1 9HN, United Kingdom

 

		21.3.2	For the Sponsor: - Dr, Sandra Morales, AmpliPhi Pty, Unit 7, 27 Dale Street, 2100 Brookvale, Australia,

 

		22	Disputes

 

		22.1	All disputes will initially be referred by either Party to a representative of each Party responsible for the overall performance
of this Agreement, who will meet as soon as reasonably practicable to discuss the dispute. If those representatives are unable
to resolve the dispute after meeting, the dispute shall be referred to the Managing Director of the Sponsor and the Director of
the Enterprise and Business Development Office of Leicester. The Directors will meet within 20 working days and attempt to resolve
the dispute.

 

		22.2	If any dispute arises out of this Agreement which the Directors are unable to resolve within 5 working days of their meeting
pursuant to Clause 22.1, the Parties will attempt to settle it by mediation in accordance with the Centre for Dispute Resolution
(CEDR) Model Mediation Procedure.

 

		22.3	To initiate a mediation a Party must give notice in writing to the other Party requesting a mediation (the ‘ADR Notice’)
and send a copy of the ADR Notice to CEDR.

 

    	 	- 9 -	 

     

    

 

		22.4	If there is any point in the conduct of the mediation (including nomination of the mediator) upon which the Parties cannot
agree within 14 days from the date of the ADR Notice, CEDR will, at the request of either Party, decide that point for the Parties,
having consulted with them.

 

		22.5	The mediation will start not later than 28 days after the date of the ADR Notice.

 

		22.6	Neither Party may commence any court proceedings in relation to any dispute arising out of this Agreement until they have attempted
to settle it by mediation and such attempt has been unsuccessful, provided that nothing in this Agreement will prevent either Party
seeking injunctive relief to prevent or stay a breach of any provision of this Agreement.

 

		23	Governing Law

 

		23.1	This Agreement is governed by English law and the Parties submit to the exclusive jurisdiction of the courts of England and
Wales.

 

    	 	- 10 -	 

     

    

  

Annex 1

 

The Project

 

‘Development of Phage for the treatment
of C. difficile infections’

 

Leicester’s contribution to the
Project

 

Project program

 

Subject to the the Party’s mutual
written agreement and ongoing approval, Leicester shall

perform the project broadly in accordance with the below:

 

Planned work 

•           Defining
the actual mix. Have already identified the top 4 phage combinations that Leicester thinks is optimal. Leicester will validate
this in vitro and in model systems in multiple strains.

 

•           Establish
if the mix can be improved by the substitution of new phages. PhD students in Leicester’s lab have independently isolated
new C. difficile phages. Leicester will determine if these phage can improve the final mixture.

 

•           Determine
efficacy on biofilms. Use SEM/confocal /biofilm mass assays and enumeration of cfu’s of spores and vegetative cells to
establish efficacy of phage treatment.

 

•           Develop
the Galleria mellonella model, to inform hamster work.

 

•           Phage
therapy as adjunct to antibiotic treatment (desired r/t essential). This would be carried out in vitro, and in model systems.

 

•           Quantify
variability within phages following propagation. Pick 32 plaques and determine variability using RFLPs/Sequence profiles.

 

•           Develop
PCR based assay to distinguish phages in ultimate mix. Multiplex if possible.

 

Ongoing work 

•           Viability
at different pHs and temperatures (and to storage, 4 , -20 and -80°)

 

•           Media
development to meet GMP standards.

 

Work on modified phages 

•           Purify
modified phages through several rounds of single plaque purification

 

•           Establish
production parameters for modified phages.

 

•           Test
spectrum of activity (host range) on clinical isolates compare data to original phages

 

•           Sequence
new phages and hosts

 

    	 	- 11 -	 

     

    

 

•          Annotate genomes (to ascertain
the new phages are devoid of integrases and non-desirable genes)

 

•           Determine
possible rates of resistance from phage treatments on clinical strains.

 

•           Set
up stability of phages on final mix

 

Dr Janet Nale will fulfil the role
of Postdoctoral Research assistant for the project.

 

Sponsor’s contribution to the Project

 

In addition to funding the work, AmpliPhi
will provide advice throughout the project through regular telecons, e-mails and meetings, AmpliPhi will provide modified phages
and manufacturing hosts to Leicester as part of the collaboration. In the future (year 2 and beyond), manufacturing process development,
analytical development and scale —up will take place at AmpliPhi.

 

Materials 

 

Leicester and AmpliPhi may provide materials
(including bacterial strains, phages, manufacturing hosts, DNA, etc.) to each other to be used in the Project. Any and all materials
provided by the Parties under this Agreement shall be “Material” and subject to the following terms:

 

		a.	The transferred Materials are to be used only for the Project.

 

		b.	The Parties shall not transfer each other’s Materials to any third party without the express written permission of the
respective Party (with the exception that AmpliPhi can transfer Leicester materials to Intrexon as part of a research sublicense
agreement provided that AmpliPhi shall ensure that Intrexon adhere to the terms and conditions contained herein and where applicable
to the terms of the License Agreement).

 

		c.	The transfer of all Materials must be agreed in advance in writing by an authorised representative of AmpliPhi, Professor Martha
Clokie and the designated technology transfer representative of Leicester. For the purposes of this Clause, agreement by e-mail
is acceptable.

 

		d.	The transferred Materials shall remain the Background IP of the Party introducing such Materials.

 

		e.	The Party receiving the Materials accepts and agrees that the Materials are experimental in nature, may have hazardous properties,
and they are supplied on an ‘as is’ basis. The Party supplying the Materials makes no representation and gives no warranty
or undertaking in relation to them whatsoever and excludes all implied warranties to the fullest extent permitted by law.

 

    	 	- 12 -	 

     

    

 

		f.	In particular, the Party supplying the Materials makes no representations or warranties, express or implied (i) as to
title, quality or fitness for a particular purpose or use of the Materials; (ii) that the supply by the supplying
Party or the use by the receiving Party of the Materials will not infringe the IP rights of any third party; and (iii) in respect
of third party rights that may be infringed by the manufacture, use, sale or transfer of, or with respect to title in, the Materials.

 

		g.	The Party receiving the Materials warrants that, in relation
to the Materials and their use they will comply with all relevant legislation and regulations.

 

    	 	- 13 -	 

     

    

 

Annex 2

 

Financial

 

[...***...]

 

***Confidential
Treatment Requested

 

    	 	- 14 -	 

     

    

  

	Signed 	 /s/ Wendy Johnson	 	Signed	/s/ Dr. Katherine Hetherington
	Authorised Signature for and on behalf of Sponsor	 	Authorised Signature for and on behalf of Leicester
	Name	Wendy Johnson	 	Name	Dr. Katherine Hetherington
	Position	Interim COO	 	Position	Commercial Contracts Manager
	Dated	Oct. 30, 2015	 	Dated	4th November 2015

  

I have read and understood this Agreement

 

	Signed  	/s/ Martha Clokie	 
	Name	Professor Martha Clokie	 
	Dated	25/11/15	 

 

    	 	- 15 -

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