Document:

Exhibit 10.5
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LOCK-UP AGREEMENT
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_____________, 2021
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		Re:
	Securities Purchase Agreement, dated as of ________________, 2021 (the “Purchase Agreement”), between RegeneRx Biopharmaceuticals, Inc. (the “Company”) and the purchasers signatory thereto (each, a “Purchaser” and, collectively, the “Purchasers”)

Ladies and Gentlemen:
Defined terms not otherwise defined in this letter agreement (the “Letter Agreement”) shall have the meanings set forth in the Purchase Agreement.  Pursuant to Section 2.2(a) of the Purchase Agreement and in satisfaction of a condition of the Company’s obligations under the Purchase Agreement, the undersigned irrevocably agrees with the Company that, from the date hereof until ninety (90) days after the Closing Date (such period, the “Restriction Period”) the undersigned will not offer, sell, contract to sell, hypothecate, pledge or otherwise dispose of (or enter into any transaction which is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the undersigned or any Affiliate of the undersigned or any person in privity with the undersigned or any Affiliate of the undersigned), directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), with respect to, any shares of Common Stock of the Company or securities convertible, exchangeable or exercisable into, shares of Common Stock of the Company beneficially owned, held or hereafter acquired by the undersigned (the “Securities”).  Beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act.
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Notwithstanding the foregoing, and subject to the conditions below, the undersigned may transfer the Securities provided that (1) the Company receives a signed lock-up letter agreement (in the form of this Letter Agreement) for the balance of the Restriction Period from each donee, trustee, distributee, or transferee, as the case may be, prior to such transfer, (2) any such transfer shall not involve a disposition for value, (3) such transfer is not required to be reported with the Securities and Exchange Commission in accordance with the Exchange Act and no report of such transfer shall be made voluntarily, and (4) neither the undersigned nor any donee, trustee, distributee or transferee, as the case may be, otherwise voluntarily effects any public filing or report regarding such transfers, with respect to transfer:
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		i)
	as a bona fide gift or gifts;

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		ii)
	to any immediate family member or to any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned (for purposes of this Letter Agreement, “immediate family” shall mean any relationship by blood, marriage or adoption, not more remote than first cousin);

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		iii)
	to any corporation, partnership, limited liability company, or other business entity all of the equity holders of which consist of the undersigned and/or the immediate family of the undersigned;

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		iv)
	if the undersigned is a corporation, partnership, limited liability company, trust or other business entity (a) to another corporation, partnership, limited liability company, trust or other business entity that is an Affiliate of the undersigned or (b) in the form of a distribution to limited partners, limited liability company members or stockholders of the undersigned;

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		v)
	if the undersigned is a trust, to the beneficiary of such trust;

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		vi)
	by will, other testamentary document or intestate succession to the legal representative, heir, beneficiary or a member of the immediate family of the undersigned; or

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		vii)
	of securities purchased in open market transactions after the Closing Date.

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In addition, notwithstanding the foregoing, this Letter Agreement shall not restrict the delivery of shares of Common Stock to the undersigned upon (i) exercise any options granted under any employee benefit plan of the Company; provided that any shares of Common Stock or Securities acquired in connection with any such exercise will be subject to the restrictions set forth in this Letter Agreement, or (ii) the exercise of warrants; provided that such shares of Common Stock delivered to the undersigned in connection with such exercise are subject to the restrictions set forth in this Letter Agreement.
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Furthermore, the undersigned may enter into any new plan established in compliance with Rule 10b5-1 of the Exchange Act; provided that (i) such plan may only be established if no public announcement or filing with the Securities and Exchange Commission, or other applicable regulatory authority, is made in connection with the establishment of such plan during the Restriction Period and (ii) no sale of shares of Common Stock are made pursuant to such plan during the Restriction Period.
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The undersigned acknowledges that the execution, delivery and performance of this Letter Agreement is a material inducement to each Purchaser to complete the transactions contemplated by the Purchase Agreement and the Company shall be entitled to specific performance of the undersigned’s obligations hereunder.  The undersigned hereby represents that the undersigned has the power and authority to execute, deliver and perform this Letter Agreement, that the undersigned has received adequate consideration therefor and that the undersigned will indirectly benefit from the closing of the transactions contemplated by the Purchase Agreement.
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This Letter Agreement may not be amended or otherwise modified in any respect without the written consent of each of the Company and the undersigned.  This Letter Agreement shall be construed and enforced in accordance with the laws of the State of New York without regard to the principles of conflict of laws. The undersigned hereby irrevocably submits to the exclusive jurisdiction of the United States District Court sitting in the Southern District of New York and
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the courts of the State of New York located in Manhattan, for the purposes of any suit, action or proceeding arising out of or relating to this Letter Agreement, and hereby waives, and agrees not to assert in any such suit, action or proceeding, any claim that (i) it is not personally subject to the jurisdiction of such court, (ii) the suit, action or proceeding is brought in an inconvenient forum, or (iii) the venue of the suit, action or proceeding is improper. The undersigned hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by receiving a copy thereof sent to the Company at the address in effect for notices to it under the Purchase Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.  The undersigned hereby waives any right to a trial by jury.  Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.  The undersigned agrees and understands that this Letter Agreement does not intend to create any relationship between the undersigned and any Purchaser and that no Purchaser is entitled to cast any votes on the matters herein contemplated and that no issuance or sale of the Securities is created or intended by virtue of this Letter Agreement.
This Letter Agreement shall be binding on successors and assigns of the undersigned with respect to the Securities and any such successor or assign shall enter into a similar agreement for the benefit of the Purchasers.
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*** SIGNATURE PAGE FOLLOWS***
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This Letter Agreement may be executed in two or more counterparts, all of which when taken together may be considered one and the same agreement.
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	Signature
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	Print Name
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	Position in Company, if any
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	Address for Notice:
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By signing below, the Company agrees to enforce the restrictions on transfer set forth in this Letter Agreement.
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	REGENERX BIOPHARMACEUTICALS, INC.
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	By: 
	/s/ J.J. Finkelstein
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	Name: J.J Finkelstein
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	Title: President and Chief Executive Officer
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4EX-4.1

 Exhibit 4.1 

Execution Version 

AMENDMENT NO. 1 

AMENDMENT NO. 1 TO THE AMENDED AND RESTATED CREDIT AGREEMENT, dated as of August 6, 2021 (this
“Amendment”), among THE SHERWIN-WILLIAMS COMPANY, an Ohio corporation (the “Company”), the Lenders party hereto, GOLDMAN SACHS BANK USA (“GS Bank”), as Administrative Agent (in
such capacity, the “Administrative Agent”), and GOLDMAN SACHS MORTGAGE COMPANY (“GSMC”), as Issuing Bank (in such capacity, the “Issuing Bank”). Capitalized terms not otherwise
defined in this Amendment have the same meanings as specified in the Credit Agreement referred to below. 
 PRELIMINARY STATEMENTS:

 (1)    The Company, the Administrative Agent, the Lenders from time to time party thereto and
the Issuing Bank are parties to that certain Amended and Restated Credit Agreement, dated as of August 2, 2021 (the “Existing Credit Agreement”; the Existing Credit Agreement as amended by this Amendment,
the “Credit Agreement”). 
 (2)    The Company has requested, and the
Administrative Agent and the Lenders have agreed, on the terms and conditions set forth herein, to amend the Existing Credit Agreement as specified herein. 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto hereby agree as follows: 

SECTION 1.    Amendments to the Existing Credit Agreement. Upon, and subject to, the
satisfaction or waiver in accordance with Section 9.02 of the Existing Credit Agreement of the conditions precedent set forth in Section 2 below, the Existing Credit Agreement is hereby amended as follows: 

(a)    The following new definition is included in Section 1.01 of the Existing
Credit Agreement in the proper alphabetical order as follows: 
 ““Amendment
No. 1 Effective Date” means August 6, 2021.” 

(b)    Each of the following definitions in Section 1.01 of the Existing Credit
Agreement is hereby amended and restated in its entirety as follows: 

““Commitment” means, with respect to each Lender, the commitment of such Lender
to acquire participations in the Letter of Credit and to make Loans, as such commitment may be (a) reduced from time to time pursuant to Section 2.07, (b) reduced or increased from time to time pursuant to assignments by or to such Lender
pursuant to Section 9.04 or (c) reduced or increased from time to time pursuant to an amendment hereto. The amount of each Lender’s Commitment on the Amendment No. 1 Effective Date is set forth on Schedule 2.01, or in the
Assignment and Acceptance pursuant to which such Lender shall have assumed its Commitment, as applicable.” 

  
 1 

 ““Fee Letter” means the fee
letters, in each case executed and delivered on the date hereof and on each date on which this Agreement is amended to increase or extend the Commitments, between the Company and GSMC, as amended, amended and restated, supplemented or otherwise
modified from time to time.” 
 ““Maturity Date” means June 20, 2026;
provided, however, that (i) with respect to the Commitments in the aggregate amount of $375,000,000, the Maturity Date shall mean December 20, 2022, (ii) with respect to the Commitments in the aggregate amount of $125,000,000, the
Maturity Date shall mean June 20, 2023, and (iii) with respect to the Commitments in the aggregate amount of $125,000,000, the Maturity Date shall mean June 20, 2026.” 

(c)    Schedule 2.01 of the Existing Credit Agreement is hereby amended and restated in
its entirety as set forth in Schedule 2.01 attached hereto. 
 SECTION 2.    Conditions of
Effectiveness. This Amendment shall become effective on the date (the “Amendment No. 1 Effective Date”) on which: 

(a)    the Administrative Agent shall have received a counterpart signature page of this Amendment duly
executed by (i) the Company, (ii) the Administrative Agent, (iii) the Lenders, and (iv) the Issuing Bank or, as to any of the foregoing parties, written evidence reasonably satisfactory to the Administrative Agent that such party
has executed this Amendment; 
 (b)    the Administrative Agent shall have received one or more
counterparts of the Fourth Amended and Restated Letter Agreement, dated as of the date hereof, duly executed by the Company and GSMC; and 

(c)    the representations and warranties set forth in Section 4 of this Amendment shall be true and
correct in all respects. 
 SECTION 3.    Effect of this Amendment, Etc. 

(a)    Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit,
impair, constitute a waiver of, or otherwise affect the rights and remedies of the Issuing Bank, the Lenders or the Administrative Agent under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect
any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. 

(b)    Nothing herein shall be deemed to entitle the Company to a consent to, or a waiver, amendment,
modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. 

  
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 (c)    After the Amendment No. 1 Effective Date,
each reference in any Loan Document to the Credit Agreement, to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Existing Credit
Agreement, as modified hereby. This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents. 

SECTION 4.    Representations and Warranties. The Company represents and warrants to the
Administrative Agent and the Lenders that, on and as of the date hereof and on and as of the Amendment No. 1 Effective Date: 

(a)    (i) The execution, delivery and performance by the Company of this Amendment and the transactions
contemplated hereby have been duly authorized by all necessary corporate action, and (ii) this Amendment has been duly executed and delivered by the Company and constitutes a legal, valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or similar laws of general applicability relating to or affecting creditors’ rights
generally and subject to general principals of equity, regardless of whether considered in a proceeding in equity or at law. 

(b)    The representations and warranties of the Company contained in the Credit Agreement and any other
Loan Document are true and correct in all material respects, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties are true and correct in all material
respects as of such earlier date). 
 (c)    Both before and after giving effect to this Amendment, no
Default or Event of Default has occurred and is continuing. 
 SECTION 5.    Execution in
Counterparts. This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract, it
being understood and agreed that the words “execution,” “signed,” “signature,” and words of similar import in, or with respect to, this Amendment shall be deemed to include electronic signatures or the keeping of
records in electronic form (including, without limitation, the execution by means of “DocuSign”, or other similar platform or service approved by the Administrative Agent), each of which shall be of the same effect, validity and
enforceability as manually executed signatures or a paper-based recordkeeping system, as the case may be, to the extent and as provided for under applicable law, including the Electronic Signatures in Global and National Commerce Act of 2000 (15 USC
§ 7001 et seq.), the Electronic Signatures and Records Act of 1999 (NY State Technology Law §§ 301-309), or any other similar state laws based on the Uniform Electronic Transactions Act;
provided, that any electronic signature delivered by means of “DocuSign”, or other similar third-party platform by one party shall be at the request of any other party hereto promptly followed by an email attestation by such party to the
recipient party confirming that such electronic signature so delivered is the signature of such party; provided, further, that upon the request of the Administrative Agent, any electronic signature shall be followed by a manually executed
counterpart as promptly as reasonably practicable. 

  
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 SECTION 6.    Governing Law. This Amendment
shall be governed by, and construed in accordance with, the laws of the State of New York. 
 SECTION
7.    WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 SECTION 8.    Jurisdiction; Consent to Service
of Process. 
 (a)    The Company hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any
thereof, in any action or proceeding arising out of or relating to this Amendment, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such
action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and
may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Amendment shall affect any right that the Administrative Agent or any Lender or the Issuing Bank may otherwise have to bring any
action or proceeding relating to this Amendment against the Company or its properties in the courts of any jurisdiction. 

(b)    The Company hereby irrevocably and unconditionally waives, to the fullest extent it may legally
and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Amendment in any court referred to in subsection (b) of this Section. Each of
the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be executed by their respective officers thereunto duly authorized, as of the date first above written. 
  

			
	 THE SHERWIN-WILLIAMS COMPANY

		
	 By:
	 	 /s/ Jeffrey J. Miklich

		 	 Name: Jeffrey J. Miklich

		 	 Title: Vice President and Treasurer

 [SIGNATURE PAGE OF AMENDMENT TO SHERWIN-WILLIAMS A&R CREDIT AGREEMENT] 

 
			
	 GOLDMAN SACHS BANK USA,

as Administrative Agent and as Lender

		
	 By:
	 	 /s/ Rebecca Kratz

		 	 Name: Rebecca Kratz

		 	 Title: Authorized Signatory

	
	 GOLDMAN SACHS MORTGAGE COMPANY,

as Issuing Bank

	
	By: Goldman Sachs Real Estate Funding Corp., its General Partner
		
	 By:
	 	 /s/ Charles Johnston

		 	 Name: Charles Johnston

		 	 Title: Authorized Signatory

 [SIGNATURE PAGE OF AMENDMENT TO SHERWIN-WILLIAMS A&R CREDIT AGREEMENT] 

 SCHEDULE 2.01 

To 
 Credit Agreement

 Commitments 
  

					
	 Lender
	  	Commitment	 
	 Goldman Sachs Bank USA
	  	$	625,000,000.00	 
	 Total:
	  	$	625,000,000.00	 

 (continued below) 

Scheduled Reductions in the Aggregate Commitments 
  

			
	Aggregate Scheduled Reduction ($) in the Total Commitment(s) and
Commitment of the Issuing Bank (without duplication)	 	Date on Which Scheduled Reduction Takes Effect
	 $375,000,000
	 	December 20, 2022
	 $125,000,000
	 	June 20, 2023
	 $125,000,000
	 	June 20, 2026

  
 Schedule 2.01 – 1

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