Document:

EXHIBIT
10.37.4 

 

AMENDED
PRIVATE SECURITIES PURCHASE AND ASSIGNMENT AGREEMENT

 

This
PRIVATE SECURITIES PURCHASE AND ASSIGNMENT AGREEMENT (the “Agreement”), dated as of January 17, 2019, is by
and between Alpha Capital Anstalt (“Alpha”), organized under the laws of Liechtenstein, with offices located at Lettstrasse
32, 9490 Vaduz, Liechtenstein and Brio Capital Master Fund Ltd (“Brio”), organized under the laws of the Cayman Islands
with offices located at 100 Merrick Road, Suite 401, W. Rockville Center, NY 11570 (each of Alpha and Brio may be referred to
collectively, as the “Purchasers” and individually, as a “Purchaser”), on the one hand, and Firstfire
Global Opportunities Fund, LLC (“Firstfire”), a New York limited liability company, with offices at 1040
First Avenue, Suite 190, New York, NY 10022 and Efrat Investments LLC, a Delaware limited liability company with
offices located at 54 Lenox Avenue, Clifton NJ 07014 (“Efrat”),
on the other hand, and Accelerated Pharma, Inc., a Delaware corporation with offices located at 15W155 81st Street,
Burr Ridge, IL 60527 (the “Company”), and relates to certain securities issued by the Company, as set forth in the
Recitals below. Alpha and Brio, each a Purchaser and collectively the “Purchasers, and Firstfire and Efrat, each a Seller
and collectively, the “Sellers.” Firstfire, Efrat, Alpha, Brio and the Company are sometimes referred to individually,
as a “Party” and collectively, as the “Parties.”

 

WHEREAS,
Efrat, a Seller, is the holder and record owner of a Senior Convertible Promissory Note originally issued by Accelerated
Pharma, Inc. to Firstfire in the principal amount of $345,000 dated January 30, 2017 (the “Convertible Note”)
and Firstfire, a Seller is the holder and record owner of 115,000 shares of the Company’s common stock, par value
$0.00001 (the “Shares”), evidenced by a Statement of Account and Total
Holder Account Statement attached hereto, 40,000 of which Shares were issued on January 31, 2017 and 75,000 Shares on June 20,
2017 (the Convertible Note and Shares are sometimes referred to collectively, as the “Securities”); and

 

WHEREAS, the
Convertible Note issued to Firstfire contained a Confession of Judgment in the event of a default by the Company; and

 

WHEREAS,
on December 27, 2017, Firstfire sold, transferred and assigned the Convertible Note to Efrat and unless context requires otherwise,
Firstfire and Efrat are sometimes referred to collectively, as the “Sellers;” and

 

WHEREAS,
the Sellers desires to sell, transfer and assign all right, title and interest in the Securities for the total purchase price
of $290,000 (the “Purchase Price”), payable $280,000 to Efrat for the sale of the Convertible Note and $10,000 payable
to Firstfire for the sale of the Shares; and

 

WHEREAS, the
Parties acknowledge that October 22, 2018, the Company filed a registration statement with the United States Securities and Exchange
Commission (the “SEC”) on Form S-1 (the “Registration Statement”) for the purpose of raising gross proceeds
of $3 million from the offering and sale to the public (the “Offering”) of its securities under the Securities Act
of 1933, as amended (the “Act”) and that the subject Offering is being conducted by the Company on a self-underwritten
basis and that no minimum is required to close the Offering; and

 

WHEREAS, each
Purchaser agrees to purchase and accept the transfer and assignment of all right, title and interest in the Securities in the
percentages and amounts as set forth in Section 1(a) below and pay their respective obligations to pay the Purchase Price in the
sums set forth in Section 1(b) below; and

 

WHEREAS,
the Purchasers hereby agree that upon the closing of this Agreement
(the “Closing”), which Closing is subject to the closing of the Offering, the Purchasers expressly agree that the
Confession of Judgment be waived and be deemed null and void and that following the Closing and the issuance of new Purchaser’s
Notes (as defined in Section 1.a below), no Confession of Judgment provisions will be contained therein; and

 

WHEREAS,
the Parties acknowledge and agree that the Closing of this Agreement and the transactions contemplated herein are subject
to the closing of the Offering by the Company and that if the closing of the Offering does not occur, then this Agreement shall
become null and void and the obligations of the Parties to each other hereunder shall terminate in their entirety.

 

NOW
THEREFORE, the Purchasers and Sellers, with the agreement and consent of the Company, hereby agree as follows:

 

1.
PURCHASE AND SALE OF Convertible NOTE AND SHARES.

 

a.
Purchase of Convertible Note and Shares. On the Closing Date (as defined below), the Sellers shall sell,
transfer and assign to Alpha and Brio, each a Purchaser, and Alpha and Brio, each a Purchaser, agree to purchase from the Sellers
all right, title and interest in the Securities, evidenced by the Convertible Note and the Shares, for the consideration and
in the form of payment as set forth immediately below and, contemporaneous therewith, the Seller shall deliver instruments of
transfer and assignment of the Securities, including but not limited to stock powers bearing executed medallion guaranties and
such other documents to convey all right, title and interest in the Securities to each Purchaser (the “Transfer Instruments”),
providing for: (i) a total of 89.35% of the Securities being sold, transferred and assigned to Alpha, evidenced by $308,257.50
in principal amount of the Convertible Note, plus accrued interest thereon; and (ii) a total of 10.65% of the Securities being
sold, transferred and assigned to Brio, evidenced by $36,742.50 in principal amount of the Convertible Note, plus accrued interest
thereon, and 115,000 Shares. The two Convertible Notes, in the respective amount of $308,257.50 and $36,742.50, are
sometimes referred to collectively, as the Purchasers’ Notes and individually, as a Purchaser’s Note.

 

b.
Form of Payment. On the Closing Date (as defined below), the Purchasers, separately and not jointly, shall pay the Purchase
Price or $290.000 for the Securities to be transferred and sold to the respective Purchasers at the Closing, as defined below,
with: (i) Alpha paying Efrat 89.35% of the $280,000 attributable to the Purchase Price of the Convertible Note and Brio paying
Efrat 10.65% $280,000 attributable to the Purchase Price of the Convertible Note; and (ii) Alpha paying Firstfire 89.35% of the$10,000
Purchase Price of the Shares and Brio paying Firstfire 10.65% of the $10,000 Purchase Price of the Shares. The total Purchase
Price of $290,000 shall be paid to the Sellers by wire transfer of immediately available funds to the Seller or account designated
by the Seller, in accordance with the written wiring instructions, against delivery of the Securities and Transfer Instruments.

 

    	 

    	 

    

 

c. Agreement of
the Company. The Company, within five (5) business days of execution of this Agreement the Company: (i) will issue a new Convertible
Note in the name of: (a) Alpha or Alpha’s designees, in the principal amount of $308,257.50 plus accrued interest; and (b)
Brio or Brio’s designees, in the principal amount of $36,742.50 plus accrued interest (each, a, “Purchaser’s
Notes” and collectively, the “Purchasers’ Notes”); and (ii) will cause its transfer agent to issue in
book entry form certificates evidencing: (c) 102,752.5 Shares in the name of Alpha or Alpha’s designees; and (d) 12,247.5
Shares in the name of Brio or Brio’s designees (the “Purchaser’s Shares” and, collectively, the “Purchasers’
Shares”). The Purchasers’ Notes shall contain such terms and conditions as the Purchasers, collectively, shall direct
in writing, except that the Company and the Purchasers expressly agree that the Purchasers Notes shall not contain any provisions
related to a Confession of Judgement, which Confession of Judgment provisions were previously contained in the Firstfire Note,
and will be deemed null and void and of no force or affect. In addition, any actual or perceived default under the Firstfire Note
will be waived. In the alternative, the Company and the Purchasers, acting singly and not collectively, can authorize the
Company to issue and deliver such other securities of the Company as the respective Purchasers shall determine (the “Purchasers’
Securities”). The Purchasers’ Notes, Purchasers’ Shares and/or Purchaser Securities may be referred to hereinafter
as the “Securities.”

 

d. Closing
Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth below, the date and time of the
issuance and sale of the Securities pursuant to this Agreement (the “Closing Date”) shall be 12:00 noon, Eastern Standard
Time not later than three (3) business days after the closing of the Offering, or such other mutually agreed upon time.
The closing of the transactions contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at
such location as may be agreed to by the Parties.

 

2.
REPRESENTATIONS AND WARRANTIES OF THE SELLERS. The Sellers represent and warrant to the Purchasers and
the Company that:

 

a.
Ability to Carry Out Obligations. Each Seller has the right, power, and authority to enter into this Agreement and
to bind each Seller to the representations and warranties hereof and perform each Seller’s obligations under
this Agreement. The execution and delivery of this Agreement by each of the Sellers and the performance by each
of the Sellers of its obligations hereunder will not cause, constitute, or conflict with or result in (i) any breach
or violation or any of the provisions of or constitute a default under any license, indenture, mortgage, charter, instrument,
articles of incorporation, bylaw, or other agreement or instrument to which either Seller is a party, or by which
either Seller may be bound, nor will any consents or authorizations of any party other than those hereto be required, (ii)
an event that would cause either Seller to be liable to any third-party, or (iii) an event that would result in the creation
or imposition of any lien, charge, or encumbrance on any of the Securities being acquired by the Purchasers pursuant
to this Agreement. In addition, each Seller represents and warrants that no person holds power of attorney or other
interest whatsoever that could adversely affect the ability of either Seller to transfer all right, title and interest
in each Seller’s Securities to the Purchasers under this Agreement.

 

b.
Title. Each Seller has good and marketable title to each Seller’s respective Securities evidenced
by the Convertible Note in the name of Efrat, in the form attached hereto as Exhibit A, and the Shares in the
name of Firstfire, evidenced by a Statement of Account attached hereto as Exhibit B (collectively,
the “Securities”) being sold, transferred and assigned to the Purchasers pursuant to this Agreement.
The Securities will be, at the Closing, free and clear of all liens, security interests, pledges, charges, claims, encumbrances
and restrictions of any kind, including but not limited to any restrictions on transfer imposed by federal and state securities
laws. Neither Efrat’s Convertible Note nor Firstfire’s Shares are or will be subject to any voting trust or
agreement with any third party. No person holds or has the right to receive any proxy or similar instrument with respect to each
Seller’s Securities. Except as provided in this Agreement, neither Seller is a party to any agreement
which offers or grants to any person, other than the Purchasers, the right to purchase or acquire any of the Securities.
There is no applicable local, state or federal law, rule, regulation, or decree which would, as a result of the purchase of the
Securities by the Purchasers (and/or assigns) impair, restrict or delay voting or any other ownership rights with
respect to the Securities by the Purchasers.

 

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c.
Transfer of Shares. Firstfire, as a Seller of the Shares, within five (5) business days of execution of this
Agreement, will deliver the book entry statement(s), along with irrevocable stock powers bearing
medallion guarantees and/or an Officer’s Certificate and Letter of Instructions to VStock Transfer (the “Transfer
Agent”) so as to permit the Transfer Agent, in a timely manner, to issue the Shares in the names of the Purchasers
or Purchasers’ designees.

 

3. REPRESENTATIONS
AND WARRANTIES OF THE PURCHASERS. The Purchasers represent and warrant, individually and not collectively, to the Sellers
and the Company, that:

 

a.
Investment Purpose. Each Purchaser, as of the date of this Agreement, is purchasing the Securities from the Sellers
and/or is being issued the Securities by the Company for its own account or for the account of its designees and not with
a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration
under the Securities Act of 1933, as amended (the “Act”) and the rules and regulations promulgated by the United States
Securities and Exchange Commission (the “SEC”) under the Act; provided, however, that by making the
representations herein, each Purchaser understands that it is not agreeing to hold any of the Securities for any minimum or other
specific term and reserves the right to dispose of their Purchaser’s Securities at any time in accordance with or pursuant
to a registration statement or an exemption under the Act and the rules and regulations of the SEC under the Act.

 

b. Accredited
Investor Status. Each Purchaser is an “accredited investor” as that term is defined in Rule 501(a) of Regulation
D (an “Accredited Investor”).

 

c. Reliance
on Exemptions. Each Purchaser understands that the Securities are being acquired, transferred and assigned to each Purchaser
in reliance upon specific exemptions from the registration requirements of the Act and the rules and regulations of the SEC under
the Act and any applicable state securities laws and that the Company and Seller is relying upon the truth and accuracy of, and
each respective Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of each Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of each Purchaser
to acquire the Securities.

 

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d. Information.
Each Purchaser and its advisors, if any, have been, and for so long as the Securities remain outstanding will continue to be,
furnished with all materials relating to the business, finances and operations of the Company and materials relating to the offer
and sale of other securities of the Company which have been reasonably requested by each Purchaser and/or their respective advisors.
Each Purchaser and/or their respective advisors, if any, have been, and for so long as the Securities remain outstanding will
continue to be, afforded the opportunity to ask questions of the Company. Notwithstanding the foregoing, the Company has not disclosed
to either Purchaser any material nonpublic information and will not disclose such information unless such information is disclosed
to the public prior to or promptly following such disclosure to such Purchaser(s). Neither inquiries nor any other due diligence
investigation conducted by either Purchaser or any of their respective advisors or representatives shall modify, amend or affect
either Purchaser’s right to rely on the Company’s representations and warranties contained in Section 3 below. Each
Purchaser understands that its investment in the Securities involves a significant degree of risk. Neither Purchaser is aware
of any facts that may constitute a breach of any of the Company’s representations and warranties made herein.

 

e. Governmental
Review. Each Purchaser understands that no United States federal or state agency or any other government or governmental agency
has passed upon or made any recommendation or endorsement of the Securities.

 

f. Transfer
or Re-sale. Each Purchaser understands that (i) the sale, transfer and assignment of the Securities to the Purchasers has
not been and is not being registered under the Act or any applicable state securities laws, and the Securities issued to the Purchaser
or its designees may not be sold, transferred and/or assigned unless (a) the Securities are sold pursuant to an effective registration
statement under the Act, (b) each Purchaser shall have received from the Company, at the cost of the Company, an opinion of counsel
that that the Company undertakes to provide in a timely manner and shall be in form, substance and scope customary for opinions
of counsel in comparable transactions to the effect that the Securities to be sold or transferred may be sold or transferred pursuant
to an exemption from such registration, which opinion shall be accepted by the Company, (c) the Securities are sold or transferred
to an “affiliate” (as defined in Rule 144 promulgated under the Act (or a successor rule) (“Rule 144”)
of the requesting Purchaser who agrees to sell or otherwise transfer the Securities only in accordance with this Section 3.f and
who is an Accredited Investor, (d) the Securities are being issued in reliance upon Section 4(2) of the Act or pursuant to Rule
144 promulgated by the SEC under the Act, or (e) the Securities are being issued in reliance upon Section 4(2) or pursuant to
Rule 144 promulgated by the SEC under the Act (or a successor rule) and the requesting Purchaser shall have delivered to the Company,
at the cost of the Company, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel
in corporate transactions, which opinion shall be accepted by the Company; (ii) any sale of such Securities made in reliance on
Rule 144 may be made only in accordance with the terms of said Rule 144 and further, if said Rule 144 is not applicable, any re-sale
of such Securities under circumstances in which the seller (or the person through whom the sale is made) may be deemed to be an
underwriter (as that term is defined in the Act) may require compliance with some other exemption under the Act or the rules and
regulations of the SEC thereunder; and (iii) neither the Company nor any other person is under any obligation to register such
Securities under the Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder (in
each case). Notwithstanding the foregoing or anything else contained herein to the contrary, the Securities may be pledged as
collateral in connection with a bona fide margin account or other lending arrangement.

 

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e. Legends.
Each Purchaser understands that until such time as the Securities may be sold, either pursuant to an effective registration statement
under the Act or pursuant to Rule 144 without any restriction as to the number of securities as of a particular date that can
then be immediately sold, the Securities and any Shares being acquired upon conversion of any Securities may bear a restrictive
legend in substantially the following form (and a stop-transfer order may be placed against transfer of the certificates for such
Securities):

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Company shall issue one or more certificates without such legend to the new holder
of any Security upon which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security
is registered for sale under an effective registration statement filed under the Act or otherwise may be sold pursuant to Rule
144 without any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such
holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that a public sale or transfer of such Security may be made without registration under the Act, which
opinion shall be accepted by the Company so that the sale or transfer is effected. Each Purchaser agrees to sell all Securities,
including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus
delivery requirements, if any.

 

f. Authorization;
Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed and delivered on behalf
of each Purchaser, and this Agreement constitutes a valid and binding agreement of each Purchaser enforceable in accordance with
its terms.

 

g.
Limitation on Acquisition of Shares. The Parties agree that in no event may either Purchaser convert the Convertible Note
or exercise any of the Securities if, as a result of any such conversion or exercise, such Purchaser shall be the beneficial owner
of more than 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance
of shares of Common Stock issuable upon conversion of the Convertible Note or the exercise of any Securities containing rights
to acquire or be exchanged for shares of Common Stock (the “Beneficial Ownership Limitation”). Each Purchaser may
decrease the Beneficial Ownership Limitation at any time and each Purchaser, upon not less than 61 days’ prior notice to
the Company, may increase the Beneficial Ownership Limitation under this Section 3.g, provided that the Beneficial Ownership Limitation
in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance
of shares of Common Stock upon conversion of the Convertible Note or the exercise of any Securities containing rights to acquire
or be exchanged for shares of Common Stock held by such Purchaser and the Beneficial Ownership Limitation provisions of this Section
3.g shall continue to apply. Any such increase will not be effective until the 61st day after such notice is delivered
to Company. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise
than in strict conformity with the terms of this Section 3.g to correct this paragraph (or any portion hereof) which may be defective
or inconsistent with the intended Beneficial Ownership Limitation contained herein or to make changes or supplements necessary
or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor
holder of the Convertible Note or any Securities.

 

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4.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company represents and warrants to the Purchasers that:

 

a.
Organization and Qualification. The Company and each of its Subsidiaries (as defined below), if any, is a corporation duly
organized, validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power
and authority (corporate and other) to own, lease, use and operate its properties and to carry on its business as and where now
owned, leased, used, operated and conducted. The Company and each of its Subsidiaries is duly qualified as a foreign corporation
to do business and is in good standing in every jurisdiction in which its ownership or use of property or the nature of the business
conducted by it makes such qualification necessary except where the failure to be so qualified or in good standing would not have
a Material Adverse Effect. “Material Adverse Effect” means any material adverse effect on the business, operations,
assets, financial condition or prospects of the Company or its Subsidiaries, if any, taken as a whole, or on the transactions
contemplated hereby or by the agreements or instruments to be entered into in connection herewith. “Subsidiaries”
means any corporation or other organization, whether incorporated or unincorporated, in which the Company owns, directly or indirectly,
any equity or other ownership interest.

 

b.
Authorization; Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this
Agreement and to consummate the transactions contemplated hereby and thereby and to issue the Securities, if any, in accordance
with the terms hereof and thereof, (ii) the execution and delivery of this Agreement, the Purchasers’ Securities by the
Company and the consummation by it of the transactions contemplated hereby and thereby (including without limitation, the issuance
of the Purchasers notes and the issuance and reservation for issuance of the Shares issuable upon conversion or exercise thereof)
have been duly authorized by the Company’s Board of Directors and no further consent or authorization of the Company, its
Board of Directors, or its shareholders is required, (iii) this Agreement has been duly executed and delivered by the Company
by its authorized representative, and such authorized representative is the true and official representative with authority to
sign this Agreement and the other documents executed in connection herewith and bind the Company accordingly, and (iv) this Agreement
constitutes, and upon execution and delivery by the Company of the Purchasers’ Notes, each of such instruments will constitute,
a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms.

 

c. Capitalization.
As of the date hereof, the authorized capital stock of the Company consists of: (i) 45,000,000 shares of Common Stock, par value
$0.00001 per share (the “Common Stock”); and (ii) 5,000,000 shares of preferred stock, par value $0.00001 per share
(the “Preferred Stock”). As of the date of this Agreement, the Company has 6,220,190 shares of Common Stock issued
and outstanding and 180,000 shares of Series A Preferred Stock issued and outstanding. The Company’s Board of Directors
is empowered, without stockholder approval, to issue Preferred Stock with dividend, liquidation, redemption, voting or other rights
which could adversely affect the voting power or other rights of the holders of Common Stock. All of the issued and outstanding
shares of Common Stock and Preferred Stock are validly issued, fully paid and non-assessable. No shares of Common Stock or Preferred
Stock of the Company are subject to preemptive rights or any other similar rights of the shareholders of the Company or any liens
or encumbrances imposed through the actions or failure to act of the Company. Except as disclosed in the Company’s pending
registration statement on Form S-1 filed with the SEC on October 22, 2018 (the “Registration Statement”) or as otherwise
set forth in this Agreement, (i) there are no outstanding options, warrants, scrip, rights to subscribe for, puts, calls, rights
of first refusal, agreements, understandings, claims or other commitments or rights of any character whatsoever relating to, or
securities or rights convertible into or exchangeable for any shares of capital stock of the Company or any of its Subsidiaries,
or arrangements by which the Company or any of its Subsidiaries is or may become bound to issue additional shares of capital stock
of the Company or any of its Subsidiaries, (ii) there are no agreements or arrangements under which the Company or any of its
Subsidiaries is obligated to register the sale of any of its or their securities under the Act and (iii) there are no anti-dilution
or price adjustment provisions contained in any security issued by the Company (or in any agreement providing rights to security
holders) that will be triggered by the issuance of the Note or the Conversion Shares. The Company has filed with the SEC in its
Registration Statement or in registration statements filed under the Act and amendments thereto during the period from October
11, 2016 through July 12, 2017, which registration statement and amendments were withdrawn on August 23, 2017 (collectively, the
“SEC Documents”), true and correct copies of the Company’s Certificate of Incorporation as in effect on the
date hereof and thereof (the “Certificate of Incorporation”), the Company’s By-laws, as in effect on the date
hereof (the “By-laws”), and the terms of all securities convertible into or exercisable for Common Stock of the Company
and the material rights of the holders thereof in respect thereto. The Company shall provide the Purchaser with a written update
of this representation signed by the Company’s Chief Executive on behalf of the Company as of the Closing Date.

 

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d. Issuance
of Securities. The issuance and/or transfer to the Purchasers of the Purchasers’ Notes and Securities, if any, when
issued, will be duly authorized and, upon issuance in accordance with the terms of this Agreement, will be validly issued, fully
paid and non-assessable and free from all preemptive or similar rights, taxes, liens, charges and other encumbrances with respect
to the issue thereof. Any shares of Common Stock underlying conversion of the Purchasers’ Notes are duly authorized and
reserved for issuance and, upon conversion, if any, of the Purchasers’ Notes in accordance with its terms, or the issuance
of Securities in either full or partial exchange for the Purchasers’ Notes will be validly issued, fully paid and non-assessable,
and free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive
rights or other similar rights of shareholders of the Company and will not impose personal liability upon the holder thereof.

 

e. Acknowledgment
of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock upon the issuance
of shares of Common Stock upon conversion of and underlying the Purchasers’ Notes and the conversion, if any, of the Purchasers’
Securities in accordance with this Agreement is absolute and unconditional regardless of the dilutive effect that such issuance
may have on the ownership interests of other shareholders of the Company.

 

f. No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby and thereby (including, without limitation, the issuance any Securities and reservation for issuance of the
shares of Common Stock underlying the Purchasers’ Notes or any amendment thereto) will not (i) conflict with or result in
a violation of any provision of the Certificate of Incorporation or By-laws, or (ii) violate or conflict with, or result in a
breach of any provision of, or constitute a default (or an event which with notice or lapse of time or both could become a default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture, patent,
patent license or instrument to which the Company or any of its Subsidiaries is a party, or (iii) result in a violation of any
law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations and regulations
of any self-regulatory organizations to which the Company or its securities are subject) applicable to the Company or any of its
Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries is bound or affected (except for such
conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually or in the
aggregate, have a Material Adverse Effect). Neither the Company nor any of its Subsidiaries is in violation of its Certificate
of Incorporation, By-laws or other organizational documents and neither the Company nor any of its Subsidiaries is in default
(and no event has occurred which with notice or lapse of time or both could put the Company or any of its Subsidiaries in default)
under, and neither the Company nor any of its Subsidiaries has taken any action or failed to take any action that would give to
others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which
the Company or any of its Subsidiaries is a party or by which any property or assets of the Company or any of its Subsidiaries
is bound or affected, except for possible defaults as would not, individually or in the aggregate, have a Material Adverse Effect.
The businesses of the Company and its Subsidiaries, if any, are not being conducted, and shall not be conducted so long as the
Purchaser owns any of the Securities, in violation of any law, ordinance or regulation of any governmental entity. Except as specifically
contemplated by this Agreement and as required under the Act and any applicable state securities laws, the Company is not required
to obtain any consent, authorization or order of, or make any filing or registration with, any court, governmental agency, regulatory
agency, self-regulatory organization or stock market or any third party in order for it to execute, deliver or perform any of
its obligations under this Agreement or the transactions contemplated hereby in accordance with the terms hereof. All consents,
authorizations, orders, filings and registrations which the Company is required to obtain pursuant to the preceding sentence have
been obtained or effected on or prior to the date hereof.

 

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g. Absence
of Certain Changes. Since October 22, 2018, the date of the filing of the Registration Statement with the SEC, there has been
no material adverse change and no material adverse development in the assets, liabilities, business, properties, operations, financial
condition, results of operations, prospects or status of the Company or any of its Subsidiaries.

 

h. Absence
of Litigation. There is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public board,
government agency, self-regulatory organization or body pending or, to the knowledge of the Company or any of its Subsidiaries,
threatened against or affecting the Company or any of its Subsidiaries, or their officers or directors in their capacity as such,
that could have a Material Adverse Effect.

 

i. Patents,
Copyrights, etc. The Company and each of its Subsidiaries owns or possesses the requisite licenses or rights to use all patents,
patent applications, patent rights, inventions, know-how, trade secrets, trademarks, trademark applications, service marks, service
names, trade names and copyrights (“Intellectual Property”) necessary to enable it to conduct its business as now
operated (and, as presently contemplated to be operated in the future). Except as disclosed in the SEC Documents, there is no
claim or action by any person pertaining to, or proceeding pending, or to the Company’s knowledge threatened, which challenges
the right of the Company or of a Subsidiary with respect to any Intellectual Property necessary to enable it to conduct its business
as now operated (and, as presently contemplated to be operated in the future); to the best of the Company’s knowledge, the
Company’s or its Subsidiaries’ current and intended products, services and processes do not infringe on any Intellectual
Property or other rights held by any person; and the Company is unaware of any facts or circumstances which might give rise to
any of the foregoing. The Company and each of its Subsidiaries have taken reasonable security measures to protect the secrecy,
confidentiality and value of their Intellectual Property.

 

j. No
Materially Adverse Contracts, Etc. Neither the Company nor any of its Subsidiaries is subject to any charter, corporate or
other legal restriction, or any judgment, decree, order, rule or regulation which in the judgment of the Company’s officers
has or is expected in the future to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is a party
to any contract or agreement which in the judgment of the Company’s officers has or is expected to have a Material Adverse
Effect.

 

k. Certain
Transactions. Except for arm’s-length transactions pursuant to which the Company or any of its Subsidiaries makes payments
in the ordinary course of business upon terms no less favorable than the Company or any of its Subsidiaries could obtain from
third parties and other than the grant of stock options disclosed in the Registration Statement, none of the officers, directors,
or employees of the Company is presently a party to any transaction with the Company or any of its Subsidiaries (other than for
services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing
of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from
any officer, director or such employee or, to the knowledge of the Company, any corporation, partnership, trust or other entity
in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.

 

l. Acknowledgment
Regarding Purchasers’ Acquisition of the Securities. The Company acknowledges and agrees that each Purchaser is acting
on its own behalf, solely in the capacity of an arm’s-length purchaser with respect to this Agreement and the transactions
contemplated hereby, including but not limited to each Purchaser’s acquisition of all right, title and interest in the Convertible
Notes and the Shares in book entry form from the respective Sellers. The Company further acknowledges that neither
Purchaser is acting nor has acted as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect
to this Agreement and the transactions contemplated hereby and any statement made by either Purchaser or any of their respective
representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice or a recommendation
and is merely incidental to each Purchaser’s purchase and/or acquisition of the Securities from the Sellers. The
Company further represents to the Purchasers and the Sellers that the Company’s consent to the execution and delivery
of this Agreement has been based solely on the independent evaluation of the Company and its representatives.

 

    	8

    	 

    

 

m. No
Brokers. The Company has taken no action which would give rise to any claim by any person for brokerage commissions, transaction
fees or similar payments relating to this Agreement or the transactions contemplated hereby.

 

n. Title
to Property. Except as disclosed in the SEC Documents, the Company and its Subsidiaries have good and marketable title in
fee simple to all real property and good and marketable title to all personal property owned by them which is material to the
business of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects or such as would
not have a Material Adverse Effect. Any real property and facilities held under lease by the Company and its Subsidiaries are
held by them under valid, subsisting and enforceable leases with such exceptions as would not have a Material Adverse Effect.

 

o. Shell
Status. The Company represents that it is not a “shell” issuer and has never been a “shell” issuer,
or that if it previously has been a “shell” issuer, that at least twelve (12) months have passed since the Company
has reported Form 10 type information indicating that it is no longer a “shell” issuer. Further, the Company will
instruct its counsel to either (i) write a 144-3(a)(9) opinion to allow for salability of any Shares issued on conversion of the
Convertible Note or other Securities convertible into Shares, or (ii) accept such opinion from counsel to the Purchaser(s).

 

p. Corporate
Existence. So long as either Purchaser beneficially owns all or any portion of the Purchasers’ Notes, the Purchasers’
Shares or the Securities or any portion thereof, acquired under this Agreement, the Company shall maintain its corporate existence
and shall not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or
sale of all or substantially all of the Company’s assets, where the surviving or successor entity in such transaction assumes
the Company’s obligations hereunder and under the agreements and instruments entered into in connection herewith.

 

q. Restriction
on Activities. Commencing as of the date first above written, and until the later of the six month anniversary of the date
first written above or payment or conversion of the Purchasers’ Notes in full, or the issuance of Securities in exchange
for the Purchasers’ Notes, the Company shall not, directly or indirectly, without each Purchaser’s prior written consent,
which consent shall not be unreasonably withheld: (a) change the nature of its business; (b) sell, divest, acquire, change the
structure of any material assets other than in the ordinary course of business; or (c) solicit any offers for, respond to any
unsolicited offers for, or conduct any negotiations with any other person or entity in respect of any variable rate debt transactions
(i.e., transactions were the conversion or exercise price of the security issued by the Company varies based on the market price
of the Common Stock) above $500,000, whether a transaction similar to the one contemplated hereby or any other investment; or
(d) file any registration statements with the SEC.

 

w. Legal
Counsel Opinions. Upon the request of either Purchaser, from to time to time, the Company shall be responsible (at its cost)
for promptly supplying to the Company’s Transfer Agent and each requesting Purchaser a customary legal opinion letter of
its counsel (the “Legal Counsel Opinion”) to the effect that the sale of any shares of Common Stock underlying conversion
of the Purchasers’ Notes or other Securities issuable upon exchange of the Purchasers’ Notes or other Securities by
the Purchaser or its affiliates, successors and assigns is exempt from the registration requirements of the Act pursuant to Rule
144 (provided the requirements of Rule 144 are satisfied and provided the such shares of Common Stock are not then registered
under the Act for resale pursuant to an effective registration statement). Should the Company’s legal counsel fail for any
reason to issue the Legal Counsel Opinion, either Purchaser may (at the Company’s cost) secure another legal counsel to
issue the Legal Counsel Opinion, and the Company will instruct its transfer agent to accept such opinion. If the Company previously
has been a “shell” issuer, the legal Counsel Opinion shall state that at least twelve (12) months have passed since
the Company has reported Form 10 type information indicating that it is no longer a “shell” issuer. Further, the Company
will instruct its counsel to either (i) write a 144-3(a)(9) opinion to allow for salability of any Shares issued on conversion
of the Purchasers’ Notes or other Securities convertible into Shares, or (ii) accept such opinion from each Purchaser’s
counsel.

 

    	9

    	 

    

 

y. Breach
of Covenants. The Company agrees that if the Company breaches any of the representations, warranties or covenants set forth
in this Section 4, and in addition to any other remedies available to each Purchaser pursuant to this Agreement, it will be considered
an Event of Default, as that term is defined in the Convertible Note issued to Firstfire on January 30, 2017, the Company
shall pay to the Purchasers the Standard Liquidated Damages Amount, as defined in said Convertible Note, in cash or in
shares of Common Stock at the option of the Purchasers, until such breach is cured, or the Company shall pay to the Purchasers
the Standard Liquidated Damages Amount in cash or shares of Common Stock, at the option of the Purchasers, upon each
violation of such provision. If the Company elects to pay the Standard Liquidated Damages Amounts in shares of Common Stock, such
shares shall be issued at the Conversion Price at the time of payment.

 

z. Rule
144. The Company acknowledges and agrees that in accordance with Rule 144, the holding period of the Securities will tack
back to the date such Securities sold and transferred therefor were initially issued. The Company agrees not to take a position
to the contrary.

 

5. CONDITIONS
PRECEDENT TO THE OBLIGATIONS OF THE SELLERS, PURCHASERS AND COMPANY. The obligation of the Sellers, Purchasers
and the Company hereunder to: (i) issue and sell the Purchasers’ Notes and Shares by the Sellers to the Purchasers
at the Closing; and (ii) the issuance by the Company of Securities to the Purchasers in exchange for the Purchasers’ Notes
and/or the Shares or a portion thereof is subject to the satisfaction, at or before the Closing Date of each of the following
conditions thereto, provided that these conditions are for the sole benefit and may be waived by the Sellers, Purchasers
and/or the Company, as the case may be, at any time in their sole discretion:

 

a. The
Parties shall have executed this Agreement and delivered the same together with all certificates and other instruments contemplated
hereby.

 

b. The
Purchasers shall have delivered their respective portions of the Purchase Price in accordance with Section 1.b above.

 

c. The
representations and warranties of each Purchaser and the Company shall be true and correct in all material respects as
of the date when made and as of the Closing Date as though made at that time (except for representations and warranties that speak
as of a specific date), and the Purchasers shall have performed, satisfied and complied in all material respects with the
covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Purchasers
at or prior to the Closing Date.

 

d. No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

6. CONDITIONS
PRECEDENT TO THE PURCHASERS’ OBLIGATIONS TO PURCHASE. The obligations of each Purchaser hereunder to purchase the Securities
at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that
these conditions are for each Purchaser’s sole benefit and may be waived by each Purchaser at any time in its sole discretion,
with it being understood that any such waiver will only be applicable to the waiving Purchaser:

 

a. The
Company and Sellers shall have executed this Agreement and delivered the same to the Purchasers.

 

b. The
Company shall have delivered to the Purchasers the duly executed Purchasers’ Notes (in such denominations as each
Purchaser shall request) and in accordance with Section 1.b above.

 

c. The
Irrevocable Transfer Agent Instructions, in form attached hereto, shall have been delivered to and acknowledged in writing by
the Company’s Transfer Agent.

 

d. The
representations and warranties of the Company shall be true and correct in all material respects as of the date when made and
as of the Closing Date as though made at such time (except for representations and warranties that speak as of a specific date)
and the Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date. Each Purchaser
shall have received a certificate or certificates, executed by the chief executive officer of the Company, dated as of the Closing
Date, to the foregoing effect and as to such other matters as may be reasonably requested by each Purchaser including, but not
limited to certificates with respect to the Company’s Certificate of Incorporation, By-laws and Board of Directors’
resolutions relating to the transactions contemplated hereby.

 

    	10

    	 

    

 

e. No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

f. No
event shall have occurred which could reasonably be expected to have a Material Adverse Effect on the Company.

 

g. Each
Purchaser shall have received an officer’s certificate described in Section 3.c above, dated as of the Closing Date.

 

7. GOVERNING
LAW; MISCELLANEOUS.

 

a. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard
to principles of conflicts of laws. Any action brought by any Party against the other Parties concerning the transactions contemplated
by this Agreement, the Securities or any other agreement, certificate, instrument or document contemplated hereby shall be brought
only in the state courts of the State of New York or in the federal courts located in the State of New York, County of New York.
The Parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder
and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. EACH PARTY
HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR UNDER ANY OTHER TRANSACTION DOCUMENT OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, ANY OTHER TRANSACTION
DOCUMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. The prevailing Party shall be entitled to recover from the other
Party its reasonable attorney’s fees and costs. In the event that any provision of this Agreement or any other agreement delivered
in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed
inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of
law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability
of any other provision of any agreement. Each Party hereby irrevocably waives personal service of process and consents to process
being served in any suit, action or proceeding in connection with this Agreement by mailing a copy thereof via registered or certified
mail or overnight delivery (with evidence of delivery) to such Party at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

b. Counterparts;
Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original
but all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by
each party and delivered to the other Party. This Agreement, once executed by a Party, may be delivered to the other party hereto
by facsimile transmission of a copy of this Agreement bearing the signature of the Party so delivering this Agreement.

 

c. Construction;
Headings. This Agreement shall be deemed to be jointly drafted by the Company and the Purchasers and shall not be construed
against any person as the drafter hereof. The headings of this Agreement are for convenience of reference only and shall not form
part of, or affect the interpretation of, this Agreement.

 

d. Severability.
In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then
such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform
with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision hereof.

 

    	11

    	 

    

 

e. Entire
Agreement; Amendments. This Agreement, the Securities and the instruments referenced herein contain the entire understanding
of the Parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein,
neither the Company nor either Purchaser makes any representation, warranty, covenant or undertaking with respect to such matters.
No provision of this Agreement may be waived or amended other than by an instrument in writing signed by the majority in interest
of the respective Purchasers.

 

f. Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, email, or facsimile, addressed as set forth below or to such other address as such party shall have
specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall
be deemed effective (a) upon hand delivery or delivery by email or facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where
such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during
normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by
express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first
occur. The addresses for such communications shall be as first set forth above. With a copy to (which copy shall not constitute
notice):

 

If
to Purchasers’ Counsel, then to:

 

Barbara
Mittman, Esq.

Grushko
& Mittman, P.C.

515
Rockaway Avenue

Valley
Stream, New York 11581

Email:
counslers@aol.com

 

If
to Sellers’ Counsel, then to:

 

Chad
Friend, Esq.

Legal
& Compliance, LLC

330
Clematis Street, Suite 217

West
Palm Beach, FL 33401

Email:
cfriend@legalandcompliance.com

 

If
to the Company’s Counsel, then to:

 

Lawrence
R. Lonergan, Esq.

The
Lonergan Law Firm, LLC

96
Park Street

Montclair,
NJ 07042

Email:
llonergan@wlesq.com

 

Each
Party shall provide notice to the other Parties of any change in address.

 

    	12

    	 

    

 

g. Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their successors and assigns.
Neither the Company, the Sellers nor the Purchasers shall assign this Agreement or any rights or obligations hereunder
without the prior written consent of the other Parties. Notwithstanding the foregoing, the Purchasers may assign their respective
rights hereunder to any person that purchases Securities in a private transaction from either Purchaser or to any of their “affiliates,”
as that term is defined under the Securities Exchange Act of 1934, without the consent of the Company.

 

h. Third-Party
Beneficiaries. This Agreement is intended for the benefit of the Parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i. Survival.
The representations and warranties of the Parties and the agreements and covenants set forth in this Agreement shall survive the
Closing hereunder not withstanding any due diligence investigation conducted by or on behalf of the Parties. Each Party agrees
to indemnify and hold harmless the other Parties and all their officers, directors, employees and agents for loss or damage arising
as a result of or related to any breach or alleged breach by any Party of any of its representations, warranties and covenants
set forth in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses as
they are incurred.

 

j. Further
Assurances. Each Party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

k. No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

l. Remedies.
The Parties acknowledge that a breach by any of them of their respective obligations hereunder will cause irreparable harm to
the other Parties by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Parties acknowledge
that the remedy at law for a breach of their obligations under this Agreement will be inadequate and agrees, in the event of a
breach or threatened breach by a Party of the provisions of this Agreement, that the other Parties shall be entitled, in addition
to all other available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions
restraining, preventing or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without
the necessity of showing economic loss and without any bond or other security being required.

 

    	13

    	 

    

 

m. Indemnification.
In consideration of each Party’s execution and delivery of this Agreement and sale, transfer and assignment of the Securities
and any Securities hereunder, and in addition to all of the other obligations under this Agreement or the Securities, the Seller
and the Company shall defend, protect, indemnify and hold harmless the Purchaser and its stockholders, partners, members, officers,
directors, employees and direct or indirect investors and any of the foregoing persons’ agents or other representatives
(including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively,
the “Indemnitees”) from and against any and all actions, causes of action, suits, claims, losses, costs, penalties,
fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to
the action for which indemnification hereunder is sought), and including reasonable attorneys’ fees and disbursements (the
“Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation
or breach of any representation or warranty made by the Company, and the Seller in this Agreement or the Securities or any other
agreement, certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation
of the Company and Seller contained in this Agreement or the Securities or any other agreement, certificate, instrument or document
contemplated hereby or thereby or (c) any cause of action, suit or claim brought or made against such Indemnitee by a third party
and arising out of or resulting from (i) the execution, delivery, performance or enforcement of this Agreement or the Securities
or any other agreement, certificate, instrument or document contemplated hereby or thereby, (ii) any transaction financed or to
be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Securities, or (iii) the status
of the Purchaser or holder of the Securities as an investor in the Company pursuant to the transactions contemplated by this Agreement.
To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum
contribution to the payment and satisfaction of each of the Indemnified Liabilities that is permissible under applicable law.

 

n. General
Releases. The Parties agree that as a condition to entering into this Agreement, Seller has executed and delivered separate
General Releases to and in favor of each Purchaser and the Company, in the form attached hereto as General Release I and General
Release II and made a part hereof.

 

[signature
page follows]

 

    	14

    	 

    

 

IN
WITNESS WHEREOF, the undersigned Purchaser, Seller and the Company have caused this Agreement to be duly executed as of the date
first above written.

 

	ALPHA
    CAPITAL ANSTALT [PURCHASER]
	 
	/s/:
    Konrad Ackermann	 
	Name:	Konrad
    Ackermann	 
	Title:	Director	 
	 	 	 
	BRIO
    CAPITAL MASTER FUND LTD [PURCHASER]
	 	 	 
	/s/: Shaye Hirsch	 
	Name:	Shaye
    Hirsch	 
	Title:	Managing
    Member	 
	 	 	 
	FIRSTFIRE
    GLOBAL OPPORTUNITIES FUND, LL [SELLER]
	 
	/s/: Eli Fireman	 
	Name: 	Eli
    Fireman	 
	Title:	Managing
    Member	 
	 	 	 
	EFRAT
    INVESTMENTS, LLC [SELLER]
	 	 	 
	/s/: Joel Rotter	 
	Name:	Joel
    Rotter	 
	Title:	Managing
    Member	 
	 	 	 
	ACCELERATED
    PHARMA, INC.
	 	 	 
	/s/: Michael Fonstein	 
	Name:	Michael
    Fonstein	 
	Title:	Chief
    Executive Officer	 

 

    	15Exhibit 10.1

 

LICENSE AGREEMENT

 

This LICENSE AGREEMENT
(“Agreement”) is made and entered into as of the 1st day of November, 2019 (the “Agreement Date”)
by and between TheraCour Pharma, Inc., a Connecticut corporation (“Licensor”) and NanoViricides, Inc., a Nevada
corporation (“Licensee”). Licensor and Licensee are each referred to herein individually, as a “Party”
and collectively, as the “Parties.”

 

RECITALS

 

WHEREAS, Licensor owns
certain drug delivery and targeting technologies (the “Development Technologies”); and

 

WHEREAS, Licensor has
historically provided services for Licensee, using the Development Technologies for the purpose of research and development of
the treatment of certain viral infections designated by Licensee and, based on the results of such research and development activities,
Licensee has licensed the Development Technologies for certain such viral infections; and

 

WHEREAS, Licensor performed
research and development services with respect to the treatment of varicella zoster virus-derived indications (the “Field”);
and

 

WHEREAS, upon review
of the results of such research and development services with respect to the Field, Licensee has informed Licensor that Licensee
desires a license under the Licensed Technology (as defined below) in the Field and for Licensor to continue further development
activities with respect thereto, and Licensor has agreed to grant such license and conduct such development activities pursuant
to the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual covenants herein contained, and for other good and valuable consideration, the amount and sufficiency
of which are hereby acknowledged, the Parties hereby agree as follows:

 

	1.	Exclusive License.

 

(a)         
Grant of License. Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee,
except as provided in Section 2(a), an exclusive, as to all persons including Licensor and its affiliates, customers, agents, successors
and/or assigns, sublicense able, royalty-bearing right and license under the Licensed Technology to use, promote, offer for sale,
import, export, sell and distribute Licensed Products within the Field throughout the world (the “Territory”);
provided, that the foregoing license shall be expanded so as to include a license to make or have made Licensed Products within
the Field throughout the Territory in the event (and to the extent)_ that the
backup manufacturing rights under the Manufacturing and Supply Agreement referred to in Section 4(b) are properly invoked by Licensee
and, in such event, such right to make and have made shall be effective only for so long as (and to the extent that) such backup
manufacturing rights are in effect. Licensor retains all rights not granted to Licensee pursuant to this Section 1(a), including
the right to make and have made the Licensed Product.

 

     

     

    

 

(b)              
Definitions. As used herein, (i) “Licensed Technology” means all Know-How and Patent Rights as
defined in this subsection; (ii) “Know-How” means all information, including discoveries, improvements, modifications,
processes, methods, protocols, formulas, data, inventions, know-how and trade secrets, patentable or otherwise, but excluding any
Patent Rights, that: (A) is necessary or reasonably useful to use, promote, offer for sale, import, export, sell and distribute
Licensed Products within the Field throughout the Territory and (B) that is controlled by Licensor during the Term; (iii) “Patent
Rights” means the patents listed in Schedule A and including in each case all reissues, divisions, continuations, continuations-in-part,
reexaminations, foreign counterparts or extensions thereof; (iv) “Licensed Products” means any products, including
all forms, dosages and formulations, that consist of, incorporate or contain any Know-How, or the manufacture, sale or use of which
without a license from Licensor would infringe at least one claim of the Patent Rights.

 

	2.	Development.

 

(a)              
Development Activities.

 

(i)                
As partial consideration for the grant of the licenses pursuant to Section 1, Licensee hereby agrees that
Licensor shall have the sole and exclusive right (even as to Licensee) to conduct, for Licensee, the following activities (clauses
(A) and (B) together, the “Development Activities”): (A) the research and development of chemical synthetic
pathways, unit processes, unit operations, and analytical tests for characterization of materials and the research and development
of all other processes and specifications necessary for the manufacture of Licensed Product; (B) the performance (or arranging
to perform through qualified third parties) of all chemical, production, and synthetic development for laboratory and other non-clinical
studies and clinical trials for the Licensed Product, including the production, manufacture, and distribution of supplies for use
in all such studies and trials (including placebos and comparators) related to the Licensed Product, from pre-clinical development
studies through Phase I, Phase II and Phase III studies. Licensor hereby agrees to use commercially reasonable efforts to perform
the Development Activities. For purposes of this Section, “commercially reasonable efforts” (i) shall mean the diligent,
good faith efforts, and commitment of resources (including the payment of costs, fees and expenses) that are consistent with general
practices and standards used by Persons in the nanomedicines industry of similar size and with similar resources of Licensor as
of the relevant time, and operating wholly within the United States of America, taking into account all scientific, commercial
and other relevant factors, that such Persons would normally use to accomplish a similar objective, it being expressly understood
and acknowledged that external commercial, scientific, regulatory or other factors may prevent achievement of certain goals and
results, despite commercially reasonable efforts by Licensor.

 

(ii)             
Except as explicitly provided herein, Licensor specifically disclaims any representations or warranties. In addition,
Licensor specifically disclaims any guarantee that the Development Activities will be successful, in whole or in part. The failure
of Licensor to successfully develop a Licensed Product shall not constitute a breach by Licensor of any representation or warranty
or its obligations under this Section 2. Licensor does not make any representation or warranty or guaranty that the Development
Activities will be sufficient for the successful development of any Licensed Product. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH HEREIN,
LICENSOR MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OR CONDITIONS OF ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT
TO THE DEVELOPMENT ACTIVITIES, ANY LICENSED PRODUCT OR LICENSOR’S INTELLECTUAL PROPERTY, INCLUDING, BUT NOT LIMITED TO, WARRANTIES
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, VALIDITY OF LICENSOR INTELLECTUAL PROPERTY, WHETHER PATENTED OR UNPATENTED,
OR NON-INFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES.

 

    	 	2	 

     

    

 

(b)              
Payment for Development Activities.

 

(i)                
As payment for the Development Activities, Licensee shall pay Licensor all of Licensor’s direct costs and indirect
costs incurred by Licensor in connection therewith, plus thirty percent (30%) of the total of direct plus indirect costs (“Development
Costs”). Direct costs shall include all salaries and wages including all payroll taxes, workers compensation premiums,
employee benefits, consultants providing services directly related to the development of the licensed product(s), lab supplies
and chemicals, and reasonable and customary charges for items such as future hazardous materials disposal according to local law
and regulations. The costs may also include the costs for protection of all intellectual property rights related to and/or other
costs arising from the Development Activities, including other legal costs. In addition, to the extent not paid pursuant to prior
agreements, the following monthly amounts of expenses may be included in the Development Costs with no need for a voucher: Office
Supplies ($500), Travel and Entertainment ($500), External Consultants ($500), and Miscellaneous Expenses ($500) as pursuant to
prior agreement and not in addition. Notwithstanding the foregoing, salaries, benefits and other compensatory payments to Dr. Jayant
Tatake and Dr. Anil Diwan (without duplication of amounts paid by Licensee to Dr. Diwan directly) from Licensor shall be included
as Development Costs without the 30% mark-up, and such salaries, benefits and other payments shall be reimbursed in full by Licensee
as provided above.

 

(ii)             
Before Development Activities begin, Licensee will pay Licensor a deposit of the estimated Development Costs for
the first two months of Development Activities, as mutually determined in good faith by the Parties (such deposit, as adjusted
pursuant to this Agreement, the “Deposit”). On or before the tenth (10th) business day of each calendar
month, Licensor shall provide an invoice of actual Development Costs for the immediately preceding month (an “Invoice”).
Within thirty (30) days after receipt by Licensee of each Invoice, Licensee shall pay Licensor the Development Costs covered by
such Invoice. Licensor may, but is not required to, use the Deposit to pay any Invoice that is not timely paid, and Licensor may
waive any obligation to pay such Deposit from time to time in its discretion.

 

    	 	3	 

     

    

 

(iii)           
Without limitation of any other remedy of Licensor, if payment of any amount reflected
on any Invoice or Reconciliation as due to one Party or the other is not made within ninety (90) days after the due date thereof,
such payment will be calculated to include interest on the overdue amount at the rate of one percent (1%) per month that such amount
remains outstanding or the highest rate permitted by law, whichever is lower, until such amount is paid in full.

 

(iv)            
On or before the tenth (10th) business day of each calendar quarter, Licensor shall submit to Licensee
a reconciliation of the Deposit with the amount of Development Costs for the immediately preceding available two months (“Reconciliation”).
In the event that any Reconciliation reflects that actual Development Costs for the preceding two (2) months exceeded the then
current amount of the Deposit, Licensee shall pay such shortfall to Licensor within thirty (30) days after Licensee’s receipt
of such Reconciliation. In the event that any Reconciliation reflects that actual Development Costs for the preceding two months
were less than the then current amount of the Deposit, Licensor shall return the excess to Licensee within thirty (30) days after
Licensee’s receipt of such Reconciliation; provided, that the Parties may instead agree that such amounts shall be credited
against future Invoices.

 

(c)                 
Ownership of Developments. Licensor shall, during the Term, promptly inform Licensee as to all Developments
(as defined below). In addition, Licensee shall, during the Term, promptly inform Licensor as to all Developments resulting from
the exercise of its rights hereunder. As used herein, “Developments” means all information, discoveries, improvements,
modifications, processes, methods, protocols, formulas, data, inventions, know-how and trade secrets, patentable or otherwise,
that, as applicable: (i) are conceived, discovered, invented, developed, created, made, generated or reduced to practice by Licensor
(alone or with others) in the performance of the Development Activities and are necessary or reasonably useful in the practice
of the rights granted pursuant to Section 1(a), or (ii) are conceived, discovered, invented, developed, created, made, generated
or reduced to practice by Licensee (alone or with others) in the exercise of the rights granted pursuant to Section 1(a) and are
necessary or reasonably useful in the practice of the Know-How or the disclosed in the Patent Rights.

 

(d)                 
Disclosure. All Developments will be disclosed to the other Party before they are publicly disclosed. In the
event that Licensor deems any Developments to be patentable, Licensor may cause patent applications to be filed in any jurisdictions
it chooses. Licensee shall reasonably cooperate with Licensor to assist as Licensor may reasonably deem necessary or useful in
the prosecution of the applications or to further evidence the assignment thereof pursuant to this Section 2. Licensee represents
and warrants that all of its agreements with contractors, agents, representatives, and employees operate to assign all Developments
to Licensee, which by operation of this Section are hereby assigned to Licensor.

 

(e)                 
Transfer of Data. Without limitation of the remaining provisions of this Section 2, Licensor will be
entitled to (i) receive (upon Licensor’s request), keep and use for regulatory and commercialization purposes all clinical
protocols, registration applications, and other substantive regulatory documents including, but not limited to, all toxicological
and clinical data and (ii) access and reference all regulatory dossiers and filings, produced by or for Licensee pertaining to
a Licensed Product. For clarity, Licensee shall provide to Licensor all Licensee data, and Licensor (including its affiliates and
sublicensees) will have the non-exclusive right to use such data for development and regulatory purposes outside of the Field and
all other licensed fields under existing license agreements between the Parties.

 

    	 	4	 

     

    

 

(f)                  
Milestones. Licensee shall develop Licensed Products according to the following schedule (each bullet point
below constituting a “Milestone”):

 

(i)            Milestone 1. Licensee shall obtain the grant of the approval of Licensee’s Investigational New Drug
(IND) Application by the Food and Drug Administration (“FDA”) for at least one Licensed Product within the Field
on or before twenty-four (24) months from the Effective Date of this Agreement;

 

(ii)           Milestone 2. Licensee shall complete (i.e., dosing of final patient and data lock) Phase I Clinical Trials
for at least one Licensed Product within the Field on or before twelve (12) months from the date of the FDA’s acceptance
of the IND;

 

(iii)          Milestone 3. Licensee shall complete (i.e., dosing of final patient and data lock) Phase II Clinical
Trials for at least one Licensed Product within the Field on or before twenty-four (24) months from the completion of Phase I;
and

 

(iv)          Milestone 4. Licensee shall complete (i.e., dosing of final patient and data lock) Phase III Clinical
Trials for at least one Licensed Product within the Field on or before thirty-six (36) months from the completion of Phase II.

 

(g)              
Commercially Reasonable Efforts. Licensee shall use commercially reasonable efforts to research, develop and
commercialize the Licensed Products within the Field. Without limitation of the foregoing, Licensee shall use commercially reasonable
efforts to complete the Phase I Clinical Trials as promptly as practicable after the Effective Date. However, it is expressly
understood and agreed that Licensee shall have no obligation to continue clinical trials beyond Milestone 2 if Licensee provides
thirty (30) days’ prior written notice of termination of this Agreement to Licensor at any time within ninety (90) days of
achieving Milestone 2. If at any period during the Term (i) prior to the granting of FDA approval for the marketing and sale of
at least one Licensed Product in the Field, Licensee ceases to pursue, or fails to continuously use commercially reasonable efforts
to obtain, such FDA approval for a period of twenty-four (24) consecutive months or (ii) fails to meet any Milestone in a
timely fashion other than as a direct result of circumstances beyond Licensee’s reasonable control then Licensor may, at
its option, terminate this Agreement as further specified in Section 10. If any circumstance beyond Licensee’s reasonable
control occurs as contemplated by the preceding sentence, Licensee shall notify Licensor in writing of such as soon as reasonably
practical, and shall promptly undertake and continue diligently all reasonable efforts necessary to cure such circumstances or
to perform its obligations in spite of the ongoing circumstances. For the avoidance of doubt, failure of the Licensee to have access
to sufficient capital to fulfill its obligations under this Agreement is not to be considered a circumstance beyond Licensee’s
reasonable control.

 

    	 	5	 

     

    

 

(h)              
Development Committee. If during the Term, Anil Diwan, PhD no longer serves as an executive officer or a member
of the Board of Directors of Licensee, the Parties shall, within ten (10) days after such date, form a joint development committee
(the “Committee”) to assist in the oversight of the research and development of the Licensed Products under
this Agreement. The Committee shall be comprised of one (1) member from each of the Parties provided that Dr. Diwan or
a substitute reasonably acceptable to the Parties is required to be the representative of Licensor. The Committee shall meet regularly
(but in no event less than quarterly) at such times and locations and in a manner as shall be mutually agreed by the Parties; provided,
that the Committee shall not be required to meet in person. The Parties agree that the representatives shall use good faith efforts
to facilitate the exchange of information relating to the research, development and commercialization of the Licensed Products
and any Developments. At least ten (10) days prior to each meeting of the Committee, Licensee shall provide a written report to
the Committee members concerning its progress with respect to its activities hereunder.

 

	3.	Consideration.

 

(a)            Milestone Consideration. Licensee shall provide the following consideration to Licensor based on Licensee’s
achievement of the Milestones (whether achieved before or after the dates specified therefor):

 

(i)                
No later than thirty (30) days after the achievement of Milestone 1, Licensee shall issue to Licensor Seventy-Five
Thousand (75,000) shares of Licensee’s Series A Convertible Preferred Stock, par value $0.001 per share (the “Milestone
Shares”) (as such number of shares is adjusted for stock splits, combinations, divisions and other recapitalization events);

 

(ii)             
No later than five (5) business days after the achievement of Milestone 2, Licensee shall pay to Licensor the cash
amount of One Million Five Hundred Thousand Dollars ($1,500,000.00);

 

(iii)           
No later than five (5) business days after the achievement of Milestone 3, Licensee shall pay to Licensor the cash
amount of Two Million Five Hundred Thousand Dollars ($2,500,000.00); and

 

(iv)            
No later than six (6) months after the achievement of Milestone 4, Licensee shall pay to Licensor the cash amount
of Five Million Dollars ($5,000,000.00).

 

All milestone payments are non-creditable
and non-refundable and shall be payable upon the initial achievement of such Milestone and no amounts shall be due hereunder for
subsequent or repeated achievement of such milestone for the same indication. Milestones and Milestone Consideration are separately
determined for individual products and for additional indications of the same product.

 

    	 	6	 

     

    

 

(b)              
Royalties and Sublicense Income. Licensee shall pay to Licensor a royalty of (i) fifteen percent (15%) on
Net Sales (as defined below) of Licensed Products and (ii) fifteen percent (15%) of all Sublicense Income. “Net Sales”
shall mean the gross amounts invoiced by Licensee or its affiliates or any sublicensee on sales or other transfers of Licensed
Products less the following deductions, provided no deduction shall be duplicative of another deduction used to determine Net Sales,
to the extent accrued, paid or allowed in accordance with U.S. generally accepted accounting principles:

 

(i)                
Normal and customary cash discounts and quantity discounts;

 

(ii)             
Sales and excise taxes, customs and any other taxes, all to the extent added to the sale price and paid directly
with respect to the production, sale or delivery of Licensed Products and not refundable in accordance with applicable law (but
not including taxes assessed against the income derived from such sale);

 

(iii)           
Freight, insurance and other transportation charges to the extent added to the sales price of the Licensed Products
and actually allowed or paid, and set forth separately as such in the total amount invoiced;

 

(iv)            
Amounts repaid or credited by reason of returns, recalls and returned goods allowances;

 

(v)              
Amounts repaid or credited by reason of normal and customary retroactive corrections, including price adjustments
(including those on customer inventories following price changes) and corrections for billing errors or shipping errors; and

 

(vi)            
Normal and customary chargebacks, billbacks, rebates, administrative fees, any other allowances actually granted
or allowed to any Person, including group purchasing organizations, managed health care organizations and to governments, including
their agencies, or to trade customers, in each case that are not affiliates of Licensee, and that are directly attributable to
the sale of the Licensed Products.

 

No deductions shall be made for
commissions paid to individuals whether they are with independent sales agencies or regularly employed by Licensee, and/or its
affiliates and on its or their payroll, or for cost of collections. A Licensed Product shall be considered “sold” when
billed out or invoiced. Sale or transfer to an affiliate for re-sale by such affiliate shall not be considered a sale for the purpose
of this provision if such affiliate is not the end user, but the resale by such affiliate to a third party shall be a sale for
such purposes.

 

“Sublicense Income”
means all payments or income received by Licensee or its affiliates in consideration of a sublicense or similar right with respect
to the Licensed Technology and/or the Licensed Products or any other agreement providing for a right to obtain a sublicense or
similar right, including upfront payments and milestone payments, and including (a) consideration received for purchase of equity
in Licensee or its affiliates, if related to granting a sublicense, (b) the purchase of any debt instruments in Licensee or its
affiliates, if related to granting a sublicense, and (c) bona fide payments made in consideration for future research, development,
manufacturing, co-promotion, consulting or other services provided by Licensee or its affiliates related to the Licensed Products,
but specifically excluding (x) royalties on the sale or distribution of Licensed Products (or, in the case of a profit-sharing
arrangement, net profits and/or revenue sharing payments that are comprised by the profit-sharing arrangement; provided, that such
amounts are treated as Net Sales).

 

    	 	7	 

     

    

 

(c)              
Payment of Royalties and Sublicense Income.

 

(i)                
All payments of royalties under Section 3(b) shall be paid on a quarterly basis within thirty (30) days following
the end of each calendar quarter (or portion thereof) during the Term in which the applicable Net Sale of Licensed Products occurs.
All payments of Sublicense Income under Section 3(b) shall be paid within thirty (30) days following Licensor’s receipt
thereof. Payments made within this thirty (30) day period shall be deemed timely. Each payment shall be accompanied by a written
report specifying in reasonable detail the calculation of such payment including, for royalties, a summary of the number, description
and aggregate sales of all Licensed Products made and the royalty payable thereon, including a description of any offsets or credits
deducted from such sales, on a Licensed Product-by-Licensed Product and country-by-country basis during the relevant calendar quarter.

 

(ii)             
Royalties shall be payable by Licensee, on a Licensed Product-by-Licensed Product and country-by-country basis, from
the Effective Date until the later to occur of (A) the tenth (10th) anniversary of the date of first commercial sale of such Licensed
Product, (B) the last to expire Patent (including extensions thereof) with a Valid Claim directed to the Licensed Product, or (C)
the expiration of all regulatory exclusivities for the Licensed Product. “Valid Claim” means (x) a claim of
an issued, unexpired patent within the Patents that has not been revoked, disclaimed, abandoned or held invalid or unenforceable
by a court or other body of competent jurisdiction pursuant to an unappealable, final decision and (y) a claim of a pending patent
application that has not been abandoned, finally rejected or expired without the possibility of appeal or refiling and that has
not been pending for more than ten (10) years from its filing date.

 

(iii)           
Licensee agrees to keep and maintain such records as it normally generates in the ordinary course of its business
for a period of five (5) years showing the sale, use, and other disposition of Licensed Products sold or otherwise disposed of
under the license herein granted. Such records shall be kept in sufficient detail to enable the royalties payable hereunder to
be determined. Licensee further agrees to permit its books and records to be examined by an independent certified public accountant
selected by Licensor, at ordinary business hours with reasonable prior notice to Licensee and consent by Licensee (not to be unreasonably
withheld or delayed), and not more than once per year. Such examination is to be made under appropriate confidentiality restrictions,
at the expense of Licensor, except in the event that the results of the audit reveal an underreporting of royalties due Licensor
of five percent (5%) or more in any calendar year, then the audit costs shall be paid by Licensee.

 

    	 	8	 

     

    

 

(iv)            
In the event any payment due under this Agreement is not made when due, the payment shall accrue interest at a rate
of one and one-half percent (1.5%) per month for the period from the due date for payment until the date of actual payment; provided,
however, that in no event shall such rate exceed the maximum applicable legal annual interest rate. The payment of such interest
shall not limit Licensor from exercising any other rights it may have as a consequence of the lateness of any payment.

 

		4.	Commercial Manufacture and Supply Agreement.

 

(a)              
Manufacture Rights. With respect to the commercial supply and manufacture of the Licensed Products, it is
currently anticipated that, subject to meeting commercially reasonable terms for quality, timing, and cost, Licensor shall be the
exclusive manufacturer and supplier thereof and, accordingly, Licensee is not being granted any right to make or have made any
Licensed Products. Accordingly, if Licensee desires to proceed with commercialization of any Licensed Product, the Parties will
enter into a manufacturing and supply agreement for the commercial manufacture and supply of the applicable Licensed Product by
Licensor to Licensee in accordance with the provisions of this Section 4 (each, a “Manufacturing and Supply Agreement”).

 

(b)              
Terms of Manufacturing and Supply Agreement. Each Manufacturing and Supply Agreement shall include at least
the following terms: (i) pricing at a cost-plus pricing schedule, with the “plus” being a market rate based on then-current
industry standards, and subject to an annual escalator based on PPI and industry standards and norms at the time of manufacture,
(ii) customary backup manufacturing rights, which will explicitly provide for such rights to apply in favor of the Licensee based
on customary trigger events, and with customary cure periods and other conditions, as would be applicable for similarly situated
companies in the relevant industry and (iii) such other commercially reasonable terms regarding forecasting, delivery, specifications,
payment terms, inspection of products, warranties, quality assurance matters, mutual indemnifications, limitations on party liability
and related terms customarily set out in manufacturing agreements within the industry as the Parties shall agree. Any disputes
regarding the terms of any such manufacturing and supply agreement shall be resolved in accordance with Section 11(l).

 

		5.	Term of Agreement. The term of this Agreement (the “Term”)
shall begin on the Effective Date and shall extend for the later of (a) so long as royalties are payable pursuant to this Agreement
anywhere in the Territory, or (b) so long as Development Work in the Field is continued pursuant to this Agreement, unless earlier
terminated in accordance with Section 10.

 

		6.	Representations and Warranties.

 

(a)              
Licensor’s Representations and Warranties. Licensor hereby represents and warrants to Licensee that
(i) the execution, delivery, and performance of this Agreement has been authorized by all necessary corporate action, on the part
of Licensor, (ii) the execution and performance of this Agreement does not violate or conflict in any material respect with the
terms of any other agreement, arrangement or understanding by which Licensor is bound and no consent or approval is necessary on
the part of Licensor for the execution, delivery and performance of this Agreement, and (iii) the manufacture, use or sale of the
Licensed Products does not, to Licensor’s knowledge, infringe or otherwise violate the intellectual property rights of any
other person or entity.

 

    	 	9	 

     

    

 

(b)              
Licensee’s Representations and Warranties. Licensee hereby represents and warrants to Licensor that
(i) the execution, delivery, and performance of this Agreement has been authorized by all necessary corporate action on the part
of Licensee and (ii) the execution and performance of this Agreement does not violate or conflict in any material respect with
the terms of any other agreement, arrangement or understanding by which Licensee is bound and no consent or approval is necessary
on the part of Licensee for the execution, delivery and performance of this Agreement.

 

		7.	Indemnification.

 

(a)              
Indemnification by Licensee. Licensee shall indemnify, defend and hold harmless Licensor from and against
any and all third-party liabilities, damages, claims, deficiencies, costs and expenses, including, without limitation, reasonable
fees and disbursements of counsel (collectively, a “Licensor Loss”), to the extent caused by Licensee’s
research, development, commercialization, manufacture, sale or distribution of the Licensed Products or any breach or violation
by Licensee of any of its material representations, warranties, covenants or agreements contained in this Agreement; but excluding
any Licensor Loss caused by any breach by Licensor of any of its covenants, representations and warranties contained in this Agreement.
Notwithstanding anything to the contrary in this Section 7(a), Licensee shall not be liable for any Licensor Loss to the extent
that the same arises as a result of the gross negligence or willful misconduct of the Licensor.

 

(b)              
Indemnification by Licensor. Licensor shall indemnify, defend and hold harmless Licensee from and against
any and all third-party liabilities, damages, claims, deficiencies, costs and expenses, including, without limitation, reasonable
fees and disbursements of counsel (collectively, a “Licensee Loss”) to the extent caused by any breach or violation
by Licensor of any of its material representations, warranties, covenants or agreements contained in this Agreement; but excluding
any Licensee Loss caused by any breach by Licensee of any of its covenants, representations and warranties contained in this Agreement.
The indemnity obligations of Licensor shall not extend beyond the date that is one year from the Effective Date. Notwithstanding
anything to the contrary in this Section 7(b), Licensor shall not be liable for any Licensee Loss to the extent that the same arises
as a result of the gross negligence or willful misconduct of the Licensee.

 

(c)              
Indemnity Procedure. The obligations and liabilities of Licensor and Licensee in connection with their respective
indemnities pursuant to this Section 7, resulting from any claim or other assertion of liability by a third party (a “Third
Party Claim”), shall be subject to the following terms and conditions:

 

    	 	10	 

     

    

 

(i)                
The Party seeking indemnification under this Section 7 (the “Indemnified Person”) must
give the Party from whom indemnification is sought (the “Indemnifying Person”) written notice of any Third Party
Claim that is asserted against, imposed upon or incurred by the Indemnified Person and that may give rise to liability of the Indemnifying
Person pursuant to this Section 7 stating (to the extent known or reasonably anticipated) the nature and basis of such Third
Party Claim and the amount thereof; provided that the failure to give such notice shall not affect the rights of the Indemnified
Person hereunder except to the extent that the Indemnifying Person shall have been actually prejudiced by reason of such failure.

 

(ii)             
Subject to Section 7(c)(iii) below, if the Indemnifying Person assumes responsibility for all indemnifiable
Losses arising out of such Third Party Claim, then the Indemnifying Person shall have the right to undertake, by counsel or other
representatives of its own choosing (which shall be reasonably satisfactory to the Indemnified Person) the defense of such Third
Party Claim at the Indemnifying Person’s sole risk and expense; provided, that the Indemnifying Person shall assume such
defense within thirty (30) days after receipt of the written notice pursuant to Section 7(c)(iii) and provided, further,
that the Indemnified Person shall in such event have the right to participate in such defense but legal and other defense costs
incurred by the Indemnified Party shall be the Indemnified Party’s responsibility after the assumption of control of the
defense by the Indemnifying Party.

 

(iii)           
In the event that (i) the Indemnifying Person shall elect not to undertake such defense; (ii) the Indemnifying
Person shall fail to undertake to defend such Third Party Claim, or diligently pursue or maintain such defense, within a reasonable
time after notice from the Indemnified Person of such Third Party Claim; (iii) it could reasonably be expected that such Third
Party Claim may materially and adversely affect the Indemnified Person other than as solely a result of money damages or other
money payments; or (iv) the Indemnified Person reasonably concludes that the Indemnifying Person and Indemnified Person have conflicting
interests with respect to such Third Party Claim, then the Indemnified Person (upon further written notice to the Indemnifying
Person) shall have the right to undertake the defense, compromise and/or settlement of such Third Party Claim, by counsel or other
representatives of its own choosing, on behalf of and for the sole account and risk of the Indemnifying Person.  In the event
that the Indemnified Person undertakes the defense of a Third Party Claim under this Section 7, the Indemnifying Person
shall pay to the Indemnified Person, in addition to all other amounts required to be paid hereunder, the reasonable costs and expenses
(including reasonable attorneys’ fees) incurred by the Indemnified Person in connection with the defense, compromise and/or
settlement thereof as and when such costs and expenses are so incurred.

 

(d)              
Anything in this Section 7 to the contrary notwithstanding, the Indemnifying Person shall not, without the
Indemnified Person’s written consent, settle or compromise any Third Party Claim or consent to the entry of any order unless
(i) the Indemnifying Person agrees in writing to pay the amounts payable pursuant to such settlement, compromise or order
as provided in this Agreement, (ii) such settlement, compromise or order includes as an unconditional term thereof the giving
by the claimant or the plaintiff to the Indemnified Person of an irrevocable release from all liability in respect of such Third
Party Claim in form and substance reasonably satisfactory to the Indemnified Person, and (iii) such settlement, compromise
or order does not impose any injunctive relief or operational restrictions on the Indemnified Person, or admit to any wrongdoing
by or on behalf of the Indemnified Party.

 

    	 	11	 

     

    

 

(e)              
Licensee will include Licensor as an additional insured on any and all product liability insurance coverage that
it obtains with respect to the research, development or commercialization of any Licensed Products.

 

		8.	No Liability for Consequential or Punitive Damages. Except as to a Party’s liability
under Section 7 or in the case of a breach by such Party of its obligations pursuant to Section 9(b), no Party hereto
shall be liable for any indirect, special, consequential or punitive damages under this Agreement, even if it has been alerted
to the possibility of such damages.

 

		9.	Prosecuting Infringement Actions; Confidentiality. 

 

(a)              
Infringements. In the event either Party becomes aware of a product that infringes or potentially infringes
the Patents, said Party shall promptly notify the other Party in writing within two (2) business days. Licensor shall have
the right, but not the obligation to prosecute any infringement of the Patents. Licensee shall cooperate to the full extent reasonably
requested by Licensor in all legal actions initiated by Licensor. Such cooperation shall include without limitation the naming
of Licensee as a party in interest and the submission of affidavits and testimony. Licensor may, at its sole option and in its
reasonable discretion, decline to prosecute any infringers of the Patents if Licensor deems it appropriate to do so. Licensor shall
inform Licensee in writing of any decision not to prosecute an infringer of the Patents. In the event that Licensor shall decline
to prosecute an infringer, Licensee may, after receiving Licensor’s express written consent, prosecute such infringer, and
Licensor shall cooperate to the full extent reasonably requested by Licensee in such action, including without limitation the naming
of Licensor as a party in interest and the submission of affidavits and testimony.

 

(b)              
Confidentiality.

 

(i)                
“Confidential Information” means any and all confidential and/or proprietary knowledge, data or
information of a Party, regardless of whether any of the foregoing are marked “confidential” or “proprietary”
or communicated to the other by the disclosing Party in oral, written, graphic, or electronic form. By way of illustration but
not limitation, “Confidential Information” includes a Party’s trade secrets, know-how, improvements, developments,
designs and techniques, ideas, theories, hypotheses, conjectures, postulates, premises, inventions, discoveries, processes, machines,
articles of manufacture, compositions of matter, applications or uses, methods of use, chemistries, chemical substances including
small chemicals, polymeric and nanomaterial substances, chemical structures and modifications including small chemicals, polymers
and nanomaterials, methods of manufacture, methods of quality control and quality assurance, analytical methods, techniques, and
technologies, chemical synthesis pathways and processes, work-up and purification processes, composition and formulation processes
and formulations, chemical process control, worksheets, process plans, characterization of substances, scale-up methodology and
practices, techniques, data, draft procedures, standard operating procedures (SOPs), protocols, implementations, manufacturing
facility design and practices, c-GMP-like and c-GMP methods and implementations, information regarding development of pharmaceuticals,
laboratory procedures and know-how including designs and techniques, mathematical formulas, bioinformatics know-how, including
methods of design and criteria of design and of selection of chemicals for a target, informatics know-how including process models,
use-cases, software architecture and design, design patterns and modifications thereof, source and object codes, data, programs,
mask works, images, trademarks whether registered or not, other works of authorship, other modifications, and information, strategies
and plans for research, design and development, new products, marketing and selling, business plans, research proposals, grant
proposals, contract proposals, third party proposals, quotes and proposals received from third parties, budgets and unpublished
financial information or financial statements, pricing strategies, licenses, prices and costs, suppliers and customers, information
regarding the skills and compensation of other service providers (including employees, consultants, and other persons or firms)
of a Party and all inventions, know-how, trade secrets, methods, concepts or ideas used in or reasonably related to the business
of a Party.

 

    	 	12	 

     

    

 

(ii)             
Each Party shall (A) maintain in confidence Confidential Information of the other Party using not less than the efforts
such Party uses to maintain in confidence other proprietary information of similar kind and value; (B) not disclose such Confidential
Information to any other Person without the prior written consent of the other Party; and (C) not use such Confidential Information
for any purpose except those expressly permitted by this Agreement or otherwise as necessary to perform its obligations under this
Agreement. The obligations in this Section 9(b) shall survive during the Term and for a period of ten (10) years thereafter;
provided, that as to any information that qualifies as a trade secret under applicable law, such obligations shall survive for
such longer period as such information continues to qualify as such.

 

(iii)           
The obligations in this Section 9 shall not apply with respect to a Party and to any portion of the Confidential
Information received from the other Party that the Party can show by competent proof: (a) is now, or hereafter becomes, through
no fault of the Party, known or available to the public; (b) was known to the Party, without any obligation to keep it confidential
or any restriction on its use, prior to disclosure by the other Party; (c) is subsequently disclosed to the Party by a Person lawfully
in possession thereof and without any obligation to keep it confidential or any restriction on its use; or (d) is independently
discovered or developed by the Party without reference to or the use of Confidential Information of the other Party, as evidenced
by the receiving Party’s written records.

 

(iv)            
Either Party may disclose Confidential Information of the other to the extent (and only to the extent) such disclosure
is reasonably necessary in the following instances: (A) filing or prosecuting (including defending before patent agencies) of patents
as contemplated under this Agreement; (B) performing obligations under this Agreement; (C) prosecuting or defending litigation
or otherwise establishing or enforcing rights or obligations pursuant to this Agreement; (D) complying with applicable governmental
laws and with judicial process, if in the reasonable opinion of the receiving Party’s counsel, such disclosure is necessary
for such compliance; and (E) if and to the extent required by applicable law, regulation, or order of a court or governmental agency
of competent jurisdiction. If and whenever any such Confidential Information is disclosed in accordance with this Section 9,
the Party making the disclosure shall provide written notice in advance of the disclosure to the extent reasonably possible and
cooperate with the other Party at the other Party’s request and expense in seeking any protective orders, confidential treatment
or the like, and such disclosure shall not cause any such information to cease to be Confidential Information unavoidably enters
the public domain.

 

    	 	13	 

     

    

 

(v)              
Neither Party shall disclose the existence, terms or expiration or termination of this Agreement to any person without
the consent of the other Party. Notwithstanding the foregoing, either Party may disclose the terms of this Agreement without such
consent (A) to its legal and accounting representatives; (B) to government agencies with authority over such Party that request
to review this Agreement in connection with a review, audit or investigation of the operations of such Party by such agency (and
provided that review of the terms of this Agreement are reasonably pertinent to such review, audit or investigation); (C) if required
by applicable law, regulation, or an order of a court or governmental agency of competent jurisdiction; and (D) to an entity (and
its financial consultants) with which a Party is in discussions to merge or which a Party may acquire or be acquired by or with
respect to diligence investigations conducted by such entity or any other investor, lender, partner or collaborator; provided that,
in each of the foregoing cases, the receiving party is subject to confidentiality obligations no less restrictive than those set
forth in this Section 9.

 

(vi)            
Nothing contained in this Section 9 shall restrict Licensor’s exercise of its rights under Section
2(e) or Section 10.

 

		10.	Termination.

 

(a)              
Termination. In addition to the termination events specified in Section 2(g), this Agreement may be
terminated prior to the expiration of the Term hereof as specified in this Section 10.

 

(i)                
Termination by Licensor. Licensor may terminate this Agreement upon written notice to Licensee if Licensee
commits a material breach of this Agreement or fails to timely meet any Milestone in Section 2(f) and fails to cure said material
breach or to meet such milestone within ninety (90) days of written notice by Licensor.

 

(ii)             
Termination for Bankruptcy or Receivership . Either Party may terminate this Agreement immediately upon delivery
of written notice to the other Party (a) upon the institution by or against the other Party of insolvency, receivership or bankruptcy
proceedings or any other proceedings for the settlement of the other Party’s debts, provided, however, with respect to involuntary
proceedings, that such proceedings are not dismissed within one hundred twenty (120) days after commencement; (b) upon the other
Party’s making an assignment for the benefit of creditors; or (c) upon the other Party’s dissolution or adoption of
a plan of complete liquidation.

 

    	 	14	 

     

    

 

(iii)           
Bankruptcy of Licensor. It is the express intent of the Parties that the licenses granted under this Agreement
are, and will otherwise be deemed to be, licenses of rights to intellectual property as set forth in Section 365(n) of Chapter
11 of Title 11 of the United States Code 11 U.S.C. §§101-1330 (the “Bankruptcy Code”), and that all of the
Patent(s) constitute “intellectual property” under Section 365(n) of the Bankruptcy Code.

 

(iv)            
Effect of Expiration or Termination.

 

(1)              
Upon the expiration or earlier termination of this Agreement, all licenses granted to Licensee under this Agreement
shall terminate. The following provisions shall survive any expiration or termination of this Agreement: Section (2)(a)(ii), Section
2(c), Section 2(d), Section 2(e), Section 6, Section 7, Section 8, Section 9(b), Section 10(a)(iv), Section 10(a)(v) and Section
11. In addition, Section 9(b) shall survive in accordance with the provisions of Section 9(b)(ii).

 

(2)              
Expiration or termination of this Agreement shall not relieve the Parties of any liability that accrued hereunder
prior to the effective date of such expiration or termination nor preclude either Party from pursuing all rights and remedies it
may have hereunder or at law or in equity with respect to any breach of this Agreement nor prejudice either Party’s right
to obtain performance of any obligation. Upon expiration or termination of this Agreement for any reason, each Party shall immediately
return to the other Party or delete or destroy all relevant records and materials in such Party’s possession or control containing
any Confidential Information disclosed by the other Party; provided that such Party may keep one copy of such materials for archival
purposes only subject to continuing confidentiality obligations.

 

(3)              
In the event of a termination of this Agreement under Section 2(g) or a termination by Licensor pursuant to Section
10(a)(i), or termination by Licensor under Section 10(a)(ii) due to the institution of proceedings of insolvency, receivership,
or bankruptcy against the Licensee, Licensee shall upon the request of Licensor, (i) assign and transfer to Licensor or its designee
all of Licensee’s rights, title, and interests in and to all clinical study agreements, manufacturing and supply agreements,
and distribution agreements (to the extent assignable and not cancelled), confidentiality and other agreements, data and other
know-how (including commercial information) in Licensee’s control, in each case, relating to the Licensed Products and that
are necessary or useful for the research, development or commercialization of the Licensed Products, (ii) disclose to Licensor
or its designee all documents, records, and materials related to the Licensed Products that are controlled by Licensee or that
Licensee is able to obtain using reasonable efforts, and that embody the foregoing; (iii) assign and transfer to Licensor or its
designee all of Licensee’s rights, title, and interests in and to any promotional materials, training materials, medical
education materials, packaging and labeling, and all other literature or other information related solely to the Licensed Products
and copyrights and any registrations for the foregoing; and (iv) pay all non-cancellable commitments of the Licensor under this
Agreement, and all unpaid Invoices to the extent the total of such non-cancellable commitments and unpaid Invoices exceed the amount
of the then current security deposit. Under this Section (10)(a)(iv)(3), the security deposit is non-refundable. To the extent
that any agreement or other asset described in this Section 10 is not assignable by Licensee, then such agreement or other asset
will not be assigned, and upon the request of Licensor, Licensee will use commercially reasonable efforts to allow Licensor to
obtain and to enjoy the benefits of such agreement or other asset, without additional payment therefor, in the form of a license
or other right to the extent Licensee has the right and ability to do so. In the event of a termination of this Agreement by the
Licensee or termination of this Agreement due to material breach by the Licensee, Licensee shall deliver to Licensor all data and
information (including registration dossiers) obtained for or in pursuing regulatory approvals, and all regulatory approvals (to
Licensor or its designee in the Territory as permitted under the applicable law) for Licensed Products in the Territory received
as of such termination date. In addition, Licensee will provide such consultation or other assistance as Licensor may reasonably
request in furtherance of the transfer of rights and materials to it pursuant to this Section 10.

 

    	 	15	 

     

    

 

		11.	Miscellaneous. 

 

(a)              
Further Assurances. Each Party shall, upon request by the other, execute and deliver all such further documents
or instruments as may be required in order to give effect to the purpose and intent of this Agreement, including without limitation
documents to record this Agreement with the United States Patent and Trademark Office if deemed necessary by the Parties.

 

(b)              
Relationship of Parties. The relationship established by this Agreement between Licensor and Licensee is that
of a licensor and licensee. Neither of the Parties hereto or any of their respective agents, employees, or representatives shall:
(i) be considered an agent, employee, representative, or partner of the other Party hereto for any purpose, (ii) have any authority
to make any agreement or commitment for, or to incur any liability or obligation in, any other Party’s name or for or on
its behalf, nor (iii) represent to any third party that they have any right to bind the other Party hereto.

 

(c)              
Assignment and Delegation. Neither this Agreement, nor any rights or obligations hereunder, shall be transferable,
delegable or otherwise assignable (voluntarily, by operation of law or otherwise) by either Party without the prior written consent
of the other Party, except to an affiliate or to a successor to all or substantially all of the business of the assignor in connection
with the sale, merger or transfer of all or substantially all of its business to which this Agreement relates; provided, that such
assignee shall agree to be bound by the assignor’s obligations hereunder pursuant to a written agreement reasonably acceptable
to the non-assigning Party. Any transfer or assignment of this Agreement in violation of this Section 11(c) shall be null
and void. No assignment shall release either Party from responsibility for the performance of any accrued obligation of such Party
hereunder.

 

    	 	16	 

     

    

 

(d)              
Sub-License. Licensee shall have the right to grant sublicenses of its rights hereunder to its customers in
each case without prior notice of selected sublicensee to Licensor or without the need for consent or approval by Licensor. All
other sublicenses shall require the prior written consent of Licensor. Licensor shall not unreasonably withhold consent for Licensee
to sublicense to a Qualified Party provided terms of this subsection are met. A Qualified Party is defined herein as a Party experienced
in the Field with commercialization of related pharmaceutical products, and with demonstrated resources including financial resources
to fulfill all obligations under the sublicense. In no event will Licensee grant a sublicense to any sublicensee that has been
debarred or disqualified by a regulatory authority. The right of Licensee to grant sublicenses is subject to the following: (i)
the execution of a sublicense shall not in any way diminish, reduce or eliminate any of Licensee’s obligations to Licensor,
and Licensee shall remain primarily liable for such obligations; (ii) Licensee shall provide an English translation copy of the
sublicense agreement to Licensor; and (iii) Licensee shall only grant a sublicense under a written agreement that is consistent
with the terms of this Agreement. Without limiting the generality of the foregoing, each sublicense agreement must include, to
the extent permitted by applicable law an assignment back to Licensee of all know-how and patent rights developed, invented, or
filed (as applicable) by or on behalf of the sublicensee. Licensor will have the right to audit (either by itself or through Licensee
or Licensor’s designee) the books and records of each such sublicensee to the same extent as it has the right to audit Licensor’s
books and records in accordance with this Agreement, and each sublicense shall state as such.

 

(e)              
Severability. If any provision of this Agreement, or the application thereof to any person or circumstance,
is invalid or unenforceable in any jurisdiction, (i) a substitute and equitable provision shall be substituted therefor in order
to carry out, so far as may be valid and enforceable in such jurisdiction, the intent and purpose of the invalid and unenforceable
provision and (ii) the remainder of this Agreement and the application of such provisions to other persons, circumstances and jurisdictions
shall not be affected by such invalidity or unenforceability.

 

(f)               
Choice of Law and Venue. This Agreement and the rights and obligations of the Parties hereto shall be governed
by, and construed and interpreted in accordance with, the laws of the State of New York without reference to the choice of law
principles thereof. The Parties hereto irrevocably consent to the exclusive jurisdiction of the federal and state courts located
in the State of New York for any claim for injunctive relief, indemnification and/or contribution. All other claims in connection
with any action or proceeding arising out of or relating to this Agreement shall be decided by binding arbitration as set forth
in Section 11(l).

 

(g)              
Notice. Any notices and communications hereunder shall be in writing in the English language, shall be deemed
made on receipt, and shall be sent either (i) in person, (ii) by facsimile transmission (with confirmation by telephone conversation
with the recipient), (iii) by registered or certified United States Mail, postage prepaid and return receipt requested, or (iv)
by national overnight courier service, and addressed to the Party to receive such notice or communication at the address given
below, or such other address as may hereafter be designated by notice in writing:

 

    	 	17	 

     

    

	
        Notices to Licensee:

         

        NanoViricides, Inc.

        1 Controls Drive

        Shelton, CT 06484

        Attention: General Counsel

         

	
        with a copy to:

         

        McCarter & English, LLP

        Two Tower Center Boulevard

        East Brunswick, New Jersey 08816

        Attention: Peter Campitiello, Esq.

        Email: pcampitiello@mccarter.com

         

	
        Notices to Licensor:

         

        TheraCour Pharma, Inc.

        135 Wood Street, Suite 205

        West Haven, CT 06516

        Attention: Anil R. Diwan, PhD

        Email: anil.diwan@allexcel.com

         

	
        with a copy to:

         

        Duane Morris LLP

        30 South 17th Street

        Philadelphia, PA 19103

        Attention: Sandra G. Stoneman

        Email: sgstoneman@duanemorris.com

 

(h)              
Any Party may change its address by giving notice to the other Party in the manner herein provided.

 

(i)                
Entire Agreement. This Agreement constitutes the entire Agreement between the Parties and supersedes all prior
written or oral agreements or understandings concerning the subject matter hereof. This Agreement may not be amended without the
written consent of each of the Parties hereto.

 

    	 	18	 

     

    

 

(j)                
Modification and Waiver. No modification or waiver of any of the terms of this Agreement shall be deemed valid
unless it is in writing and signed by the Party against whom such modifications or waivers are sought to be enforced. The failure
by either Party to insist upon the strict performance of any Term or the waiver of any breach under this Agreement shall not prevent
the subsequent strict enforcement of such term nor be deemed a waiver of any subsequent breach.

 

(k)              
Counterparts. This Agreement may be executed in counterparts, which taken together shall constitute one single
agreement of the Parties.

 

(l)                
Costs and Expenses. Each Party shall bear its own costs and expenses incurred in connection with the performance
of its obligations hereunder; provided, that Licensee shall reimburse Licensor for all of its legal costs incurred in the negotiation,
execution and delivery of this Agreement upon request.

 

(m)            
Dispute Resolution.

 

(i)    
Attempt to Settle. The Parties agree to take all reasonable efforts to resolve any and all disputes between
them concerning material matters in connection with this Agreement (each, a “Dispute”) in an amicable manner.

 

(ii) 
Binding Arbitration. Except in the event of alleged breach, default or lack of diligence by a bankrupt or
insolvent Party, the Parties agree that any Dispute that cannot be amicably resolved by the Parties shall be resolved by binding
arbitration as set forth in this Section 11(l), conducted in accordance with the Commercial Arbitration Rules of the American Arbitration
Association by three arbitrators.

 

(iii)   Written
Notice. If a Party intends to begin an arbitration to resolve a Dispute, such Party shall provide written notice to the other
Party informing the other Party of such intention and the issues to be resolved. Within twenty (20) business days after its receipt
of such notice, the other Party may, by written notice to the Party initiating arbitration, add additional issues to be resolved.

 

(iv)
Selection of Arbitrators. Within forty-five (45) days following the receipt of the notice of arbitration, the Parties shall
agree on the arbitrators, or if the Parties are unable to agree the arbitrators shall be selected as provided in the AAA Commercial
Arbitration Rules. The arbitrators shall not be employees, directors or stockholders of either Party or of an Affiliate and shall
be selected in accordance with AAA rules. Where applicable, the arbitrators shall be independent experts in pharmaceutical product
development (including clinical development and regulatory affairs) in the U.S.

 

(v)  
Location. The arbitration shall take place in New York, NY.

 

(vi)
Costs. The costs of the arbitration, including administrative and arbitrator fees, shall be shared equally by the Parties.
Each Party shall bear its own costs and attorney and witness fees.

 

    	 	19	 

     

    

 

(vii)     Written Decision. The arbitrators shall render a written decision with their resolution of the dispute. The
decision of the arbitrators shall be final and not subject to appeal and binding on the Parties hereto.

 

(viii)    Final Decision Within Six Months. Any arbitration subject to this Section 11(l) shall be completed within
six (6) months from the filing of notice of a request for such arbitration.

 

(ix)
Limitations. Either Party may apply to the arbitrators for interim injunctive relief until the arbitration award is rendered
or the controversy is otherwise resolved. Either Party also may, without waiving any remedy under this Agreement, seek from any
court having jurisdiction any injunctive or provisional relief necessary to protect the rights or property of that Party pending
the arbitration award. The arbitrators shall have no authority to award punitive or any other type of damages not measured by a
Party’s compensatory damages.

 

(n)              
Construction. This Agreement has been negotiated and prepared by the Parties, each of which has been represented
by its own respective counsel. Neither Party shall be considered to be the drafter of any particular provision of this Agreement,
and should any provision of this Agreement require interpretation, the rule of construction that a provision can be construed more
strictly against one party shall not be applied.

 

(o)              
No Third-Party Beneficiaries. No person or entity other than Licensee and Licensor and Licensee’s affiliates
and permitted Sublicensees and assignees hereunder shall be deemed an intended beneficiary hereunder or have any right to enforce
any obligation of this Agreement.

 

[Signature blocks appear on next page]

 

    	 	20	 

     

    

 

 

IN WITNESS WHEREOF,
the Parties hereto have executed this Agreement as of the Effective Date.

  

	 	THERACOUR PHARMA, INC.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	 
	 	NANOVIRICIDES, INC.
	 	 
	 	By:	 
	 	Name: Stanley Glick
	 	Title: Special Director

 

 

 

    	 	21	 

     

    

 

SCHEDULE
A

 

PATENTS

 

 

	Patent or Application	 	Date of Issue/

Application	 	US Expiry

Date	 	 	Owners
	 	 	 	 	 	 	 	 
	PCT/US06/01820

(SOLUBILIZATION AND TARGETED DELIVERY OF DRUGS WITH SELF-ASSEMBLING AMPHIPHILIC POLYMERS).	 	Applied: Jan 19, 2006 PCT U.S. Issuance: May 8, 2012.	 	October 2028 (estimated)	 	 	TheraCour Pharma, Inc. [Exclusive License].
	 	 	 	 	 	 	 	 
	PCT/US2007/001607

SELF-ASSEMBLING AMPHIPHILIC POLYMERS AS ANTIVIRAL AGENTS	 	Applied: Jan 22, 2007	 	Ca. 2029 (estimated)	 	 	TheraCour Pharma, Inc. [Exclusive License].

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}]]