Document:

Exhibit 4.4

 

EMPLOYMENT AGREEMENT

 

THIS PERSONAL EMPLOYMENT AGREEMENT (the “Agreement”)
is made this 20th day of January 2021 by and between BiondVax Pharmaceuticals Ltd. registry number 51343610, a company having
its principal place of business at Jerusalem BioPark, 2nd Floor, Hadassah Ein Kerem Campus, Jerusalem, Israel (the “Company”)
and Amir Reichman (I.D. 032241911) Boomgaardlaan 29,1560 Hoeilaart, Belgium (the “Employee”).

 

		WHEREAS,	the Company wishes to employ an employee in the position set
forth hereunder; and

 

		WHEREAS,	the Employee has declared that he has the required knowledge, experience and expertise to fulfill the
said position under the terms set forth herein; and

 

		WHEREAS,	the Company wishes, based on the Employee’s aforementioned declaration, to employ the Employee, and the
Employee wishes to be employed by the Company, as of the Commencement Date (as such term is defined hereunder); and

 

		WHEREAS	the parties desire to state the entire terms and conditions of the Employee’s employment by the Company,
as set forth below.

 

NOW, THEREFORE, in consideration of the
mutual premises, covenants and other agreements contained herein, the parties hereby agree as follows:

 

		1.	Contents of Agreement/Definitions

 

		1.1.	The preamble and the exhibits to this Agreement constitute an
integral part hereof and are hereby incorporated by reference.

 

		1.2.	The headings in this Agreement are for the purpose of convenience only and shall not be used for the purposes
of interpretation.

 

		1.3.	This Agreement also constitutes a notice pursuant to the Notice to Employee Law (Terms of Employment),
5762-2002, and it includes all the information which the Company is obligated by law to provide to the Employee.

 

		1.4.	The Employee represents that no provision of any law, regulation, agreement or other document prohibits
him from entering into this Agreement.

 

		1.5.	References to the masculine gender shall include the feminine, unless the context otherwise requires.

 

		2.	Employment and Position

 

		2.1.	Employee’s employment with the Company shall commence as of the commencement date set forth in Exhibit
A hereto (the “Commencement Date”) and shall continue for an unfixed period of time, unless terminated in accordance
with the terms of this Agreement.

 

		2.2.	The Company hereby agrees to employ the Employee and the Employee hereby agrees to be employed by the
Company in the position set forth in Exhibit A hereto (the “Position”).

 

		2.3.	Employee shall report regularly to the person set forth in Exhibit A hereto, or to any other
person or position as Company, at its sole discretion, shall instruct in writing the Employee from time to time (the “Supervisor”).

 

		3.	Employee’s Duties

 

The Employee affirms and undertakes throughout the term
of this Agreement:

 

		3.1.	Not to receive, at any time, whether during the term of this Agreement and/or at any time thereafter,
directly or indirectly, any payment, benefit and/or other consideration, from any third party in connection with his employment with the
Company, without the Company’s prior written authorization.

 

     

    

    

 

		3.2.	To travel abroad from time to time if and as may be required pursuant to his Position.

 

		3.3.	To immediately and without delay inform the Company of any affairs and/or matters that might constitute
a conflict of interest with Employee’s Position and/or employment with Company and/or the interests of the Company.

 

		3.4.	Not, without the prior written consent of the Company, to undertake or accept any other paid or unpaid
employment or occupation or engage in or be associated with, directly or indirectly, any other businesses, duties or pursuits except for
de minimis non-commercial or non-business activities.

 

		3.5.	To adhere to any applicable law or provision and all disciplinary regulations, work rules, policies, procedures
and objectives, as may be determined by the Company from time to time, pertaining to his employment including, without limitation, and
HR policies.

 

		3.6.	Agrees to the transfer of any information concerning the Employee and held by the Company to a database
(including a database located abroad) and to third parties in general, as reasonably relating to the business purposes or in pursuit of
the Company’s business interests.

 

		3.7.	To keep the contents of this Agreement confidential and not to disclose the existence or contents of this
Agreement to any third party without the prior written consent of the Company.

 

		4.	Time, Attention and Location

 

		4.1.	Location - The Employee will work at the Company’s executive offices, wherever they shall
be located from time to time, or any other reasonable location, as decided by the Company in its sole discretion.

 

		4.2.	In general, work for the Company shall be performed on Sunday through Thursday, unless determined and
instructed otherwise by the Company, as set forth hereunder. A regular workday with the Company shall consist of 9.6 hours, including
a 60 minute daily break which shall be taken by the Employee on the Employee’s account. Notwithstanding, without derogating from the aforementioned,
the Company’s official “Shortened Day” shall be Sunday and will include 8.6 hours including a 60 minute daily break, which shall
be taken by the Employee on the Employee’s account (the “Shortened Day”). For the avoidance of doubt, the Company
may from time to time, change the Shortened Day per the Company’s business needs. Saturday (Shabbat) shall be the Employee’s recognized
and official rest day.

 

		4.3.	Hours of Work and Rest Law. Notwithstanding the provisions of Section 4..2, Employee agrees and
acknowledges that due to the Employee’s senior managerial position in the Company and the special amount of trust involved in the Position
in which the Employee shall be employed the Hours of Work and Rest Law, 1951 (the “Hours of Work and Rest Law”) does
not apply to the Employee’s employment. Therefore, the Employee shall not be entitled to receive payments or any additional pay for overtime
working hours, or work performed on Fridays, Saturdays or Jewish festival holidays and the Shortened Day shall not apply to the Employee.
Notwithstanding the foregoing, the Employee shall not generally be required to work on Fridays, Saturdays or Jewish holidays.

 

		4.4.	Employment Scope – As of the Commencement Date until March 2, 2021 (the “First Period”)
the Employee’s Employment Scope shall be 20% scope (one working day per week which shall be Sunday). As of March 2, 2021 onwards, the
Employee’s employment scope shall be full time (as described in Section 4.2 above).

 

		4.5.	Recording of Hours: Per the requirements under applicable law, the Employee shall cooperate with
the Company in maintaining a record of the number of hours of work performed, in accordance with the Company’s policy and instructions.

 

    2

    

    

 

		5.	Consideration, Benefits and Payments

 

		5.1.	Salary.

 

		5.1.1.	As payment for the fulfillment of the obligations set forth herein, the Company shall pay the Employee
a gross monthly salary in the amount as set forth in Exhibit A hereto (hereinafter: “Monthly Salary”).
During the First Period the Employee’s Monthly Salary shall be adjusted in accordance with First Period Monthly Salary as set forth
in Exhibit A hereto.

 

		5.1.2.	The Monthly Salary shall be paid to the Employee no later than the 9th day of the following
month.

 

		5.1.3.	An amount equal to 10% of the Monthly Salary of the Employee shall be considered as a special compensation
for the Employee’s obligations Section 6 herein and under the Confidentiality, Non-Compete and Proprietary Rights Agreement (the
“Assignment Agreement”), attached hereto as Exhibit B, including without limitation, in connection with
assignment of inventions and non-competition (the “Special Compensation”). The Employee shall be obligated to return
all Special Compensation amounts received from the Company upon violation of any of the said obligations set forth therein. Company maintains
the right to withhold and set off any amounts due to the Employee following such violation, and all such amounts owed to the Company shall
bear interest and shall be linked to the Cost of Living Index in accordance with the law.

 

		5.1.4.	For the avoidance of doubt, the Monthly Salary shall be calculated based on an annual USD salary (set
forth in Exhibit A hereto) divided by 12 months and shall be converted each month to NIS according to the applicable USD-NIS
exchange rate at the last day of the relevant month. Therefore, the Employee’s Monthly Salary, which will be converted and paid
in NIS, may change from one month to the other according to the then applicable USD-NIS exchange rate.

 

		5.2.	Pension Insurance.

 

		5.2.1.	It is hereby agreed and understood that the insured salary out of which the parties shall maintain and
obtain Pension Insurance as set forth in Exhibit A hereto and will not exceed the limit recognized by the Income Tax Authority
from time to time (the “Insured Salary”) and the Company will not gross up any tax payable in respect of such contributions.
It is agreed and understood that during the First Period the insured salary shall be lower between the Insured Salary and the First Period
Monthly Salary.

 

		5.2.2.	The Company and the Employee will obtain and/or continue to maintain Managers Insurance and/or Pension
Fund according to the Employee’s choice (“Pension Insurance”). The contribution to the Pension Insurance shall
be as follows: (i) the Company shall contribute an amount equal to 6.5% of the Insured Salary for premium payments (the “Company
Contribution”) and an additional 8.33% of the Insured Salary for severance payments; and (ii) the Employee shall contribute
6% of the Insured Salary toward the premiums payable in respect of a Pension Insurance.

 

		5.2.3.	The Employee hereby instructs the Company to transfer to the Pension Insurance the amounts of the Employee’s
and the Company’s contributions from the Insured Salary to the Pension Insurance.

 

		5.2.4.	In the event the Employee elects to obtain Managers Insurance as per Section 5.2.2, the Company Contribution
shall include payments toward a Disability Insurance (“Ovdan Kosher Avoda”), which may be included within the Managers
Insurance Policy, for the exclusive benefit of the Employee, provided that the Company’s contribution towards premium payments shall
not be less than 5% of the Employee’s Insured Salary. For the removal of any doubt, it is hereby clarified that the Company Contribution
together with any payments towards Disability Insurance shall not exceed 7.5% of the Employee’s Insured Salary.

 

		5.2.5.	It is hereby agreed that upon termination of employment under this Agreement, the Company shall release
to the Employee all amounts accrued in the Pension Insurance Policy on account of both the Company’s and Employee’s Contributions.
However, it is hereby agreed that if the Employee is dismissed under the circumstances defined in Section 16 and/or Section 17 of the
Severance Pay Law or in the event that the Employee withdraws monies from the Pension Insurance in circumstances other than an “Entitling
Event”, (i.e., death, disablement or retirement at the age of 60 or over) - the Employee shall not be entitled to any Severance
Pay.

 

		5.2.6.	It is hereby clearly agreed and understood that Section 14 of the Severance Pay Law, and the General Approval
of the Labor Minister, dated June 30, 1998, issued in accordance to the said Section 14, a copy of which is attached hereby as Exhibit
C shall apply to the Insured Salary.

 

    3

    

    

 

		5.3.	Advanced Study Fund - Keren Hishtalmut

 

		5.3.1.	The Company and the Employee shall open and maintain a Keren Hishtalmut (the “Fund”).
Use of these funds shall be in accordance with the by-laws of the fund.

 

		5.3.2.	The Company shall contribute to the Fund an amount equal to seven and a half percent (7.5%) and the Employee
shall contribute to such Fund an amount equal to two and a half percent (2.5%) of each Monthly Salary payment.

 

		5.3.3.	For the avoidance of any doubt, the sums contributed by the parties to the Fund will not exceed the limit
recognized by the Income Tax Authority from time to time and the Company will not gross up any tax payable in respect of such contributions(the
“Fund Insured Salary”). During the First Period the contributions towards the Fund shall be from the lowest between
First Period Monthly Salary and the Fund Insured Salary.

 

		5.4.	Signing Bonus; Restricted Share Units - Together
with the first Monthly Salary the Employee shall be entitled to a one-time signing bonus at the gross lump sum set forth in Exhibit
A hereto (the “Signing Bonus”). The Signing Bonus shall not form as salary for any purpose and shall not be
taken into account for the purpose of calculating any of the Employee’s rights.

 

In addition, effective upon the Commencement
Date and subject to shareholder approval of an increased in the registered share capital of the Company and the grant of RSU’s (as
defined below), the Company will issue to the Employee 600,000 restricted share units (the “RSU’s”). under the
Company’s 2018 Israeli Share Option Plan which will vest over a period of five years, 20% to vest each year on the anniversary date
of the Commencement Date. The Company will convene the shareholders meeting at the earliest practicable date. The American Depositary
Shares underlying the RSU’s may not be sold by the Employee during the term of his employment other than sales under a 10b5-1 plan
during any one year period of a number of American Depositary Shares (“ADSs”), each representing 40 ordinary shares
of the Company, not exceeding five (5%) percent of the vested RSU’s held by the Employee at the time of such sale commencing on
the third anniversary of the Commencement Date (called the “Resale Limits”). If this Agreement is terminated by the
Company for no cause under Section 7 prior to the fifth anniversary of the Commencement Date, the Resale Limits shall terminate. If this
Agreement is terminated by the Employee or terminated by the Company for cause under Section 7 prior to the fifth anniversary of the Commencement
Date, the Resale Limits shall continue until the earlier of (i) one year after such termination or (ii) the fifth anniversary of the Commencement
Date. The RSU’s will be granted pursuant to a separate grant letter (which will include all related documents customarily used by
the Company for such purpose) to be entered into between the Employee and the Company. Any and all tax consequences arising from the grant
or exercise of the RSU’s to the Employee, from the payment for, or the subsequent disposition of, ADSs covered thereby or from any
other event or act of the Company (except for erroneous actions of the Company) or of the Employee hereunder, shall be borne solely by
the Employee, and the Employee will indemnify the Company and hold it harmless against and from any and all liability for any such tax
or interest or penalty thereon, including, without limitation, liabilities relating to the necessity to withhold, or to have withheld,
any such tax. The Employee hereby irrevocably authorizes the Company to deduct from any payment, which may be due to the Employee from
the Company, any amount which the Employee may owe to the Company hereunder. The RSUs shall be subject to the terms of the Company’s
compensation policy from time to time.

 

		5.5.	Annual Performance Bonus - The Employee shall be eligible to receive an annual cash bonus
at the gross amount equal to three to six monthly salaries to the extent the Employee meet the annual objectives that shall be approved
by the Company’s board of directors and shareholders under a specific plan which shall be provided to the Employee as a separate
document. It is currently contemplated that the annual bonus would be (i) four monthly salaries for meeting such annual objectives and
(ii) three monthly salaries in the case of underperforming compared to such annual objectives, provided the Employee meets the baseline
objectives set by the board of directors Under extraordinary circumstances reflecting performance by the Employee significantly above
all such annual objectives, the board of directors may, in its sole discretion, consider an additional cash bonus of not more than an
additional 3 monthly salaries (up to nine monthly salaries in total). The bonus amounts and annual objectives shall be subject to the
terms of the Company’s compensation policy from time to time.

 

    4

    

    

 

		5.6.	Company Car 

 

		5.6.1.	The Company shall cover the monthly cost (the “Car Expenses”) of Employee’s use
of a leased car (the “Company Car”)  up to a monthly employer’s cost set in Exhibit A hereto (the
“Car Expenses Limit”). The Car Expenses shall also include insurance, gas, maintenance and gross up on taxes payable
by Employee which relates to the Company Car, all up to the monthly Car Expenses Limit. For the avoidance of doubt, the Company shall
not bear any further cost above the Car Expenses Limit, and the Employee hereby agree and understand that any additional payment and/or
cost above the Car Expenses Limit shall be beard solely by the Employee.

 

		5.6.2.	Car Expenses Limit paid pursuant to this paragraph will not form part of the Employee’s social benefits
and will not be taken into account for the purpose of calculating the Employee’s social and/or other benefits of any kind, including severance
pay.

 

		5.6.3.	The Employee understands and agree that the Company shall not bear any cost which relates to: (i) breach
of the leasing agreement, (ii) damages to the Company Car or theft ; (iii) fines or parking tickets or payment of toll roads; and other
expenses due to noncompliance by the Employee of any applicable law or any such other expenses as a result of unlawful conduct by the
Employee, all which shall be borne by the Employee, and pursuant to which the Company may withhold and setoff any amounts to which the
Employee may be entitled.

 

		5.6.4.	The Employee declares that at the event of fines or parking tickets or any other felony or damage, he
will execute an assignment letter to be provided by the Company or the car leasing company. Furthermore, it is hereby agreed that the
Company shall assign to the Employees responsibility any and all traffic tickets received. The Employee hereby confirms and declares that:
(a) he shall inform the Company of such traffic tickets and/or fines within 48 hours from the day he received them, and (b) he shall participate
in any court deliberation and perform any action required by the Company in respect of the said tickets and/or fines.

 

		5.6.5.	The Car Expenses Limit shall be calculated based on the Car Expenses Limit (set forth in Exhibit
A hereto) divided by 12 months and shall be converted each month to NIS according to the applicable USD-NIS exchange rate of the
last day of each month. Therefore, the monthly Car Expenses Limit, which will be converted and paid in NIS, may change from one month
to the other according to the applicable USD-NIS exchange rate.

 

		5.6.6.	Receipt of Car Expenses shall be in lieu of travel expenses reimbursement to which the Employee entitled
according to the applicable extension order (“Tsav Harchva”).

 

		5.7.	Cellular Phone Expenses - The Company shall cover Employee’s use of his personal cellular
phone. For the avoidance of any doubt, Cell Phone Expenses paid pursuant to this paragraph will not form part of the Employee’s social
benefits and will not be taken into account for the purpose of calculating the Employee’s social and/or other benefits of any kind, including
severance pay.

 

		5.8.	Dmey Havra’ah (Convalescence Pay) - The employee shall be entitled to “Dmey
Havra’ah” in accordance with any applicable law, which shall be included in the Monthly Salary.

 

		5.9.	Annual Vacation - Employee shall be entitled to paid vacation days during each year of Employee’s
employment in the amount set forth in Exhibit A hereto (the “Annual Vacation Allowance”). Taking of vacation
days shall be coordinated in advance with the Company. Employee shall be obligated to take at least five (5) paid vacation days during
each year of Employee’s employment, as prescribed by law. Employee may accumulate vacation days and carry them forward provided
that the Employee shall not be entitled to accrue and carry forward any more the Maximum Amount set forth in Exhibit A (including
statutory vacation allowance) (the “Maximum Amount”). Notwithstanding, any unused vacation days exceeding the Maximum
Amount shall be forfeited and are not redeemable in any event.

 

		5.10.	Sick Leave - The Employee shall be entitled to pay Sick Leave during each year of employment
in accordance with any applicable law.

 

		5.11.	Shareholder Approval – It is understood that in accordance with the Israeli Companies
Law, the compensation payable under this Agreement will be subject to, and paid following, the prior approval of the Company’s shareholders.
The Company will convene the shareholders meeting at the earliest practicable date.

 

    5

    

    

 

		6.	Confidentiality, Non-Compete and Proprietary Rights

 

		6.1.	The Employee shall, simultaneously herewith, execute the Confidentiality, Non-Compete and Proprietary
Rights Agreement, attached hereto as Exhibit B. For the removal of any doubt, execution of such Confidential, Non-Compete
and Proprietary Rights Undertaking Letter Agreement by the Employee - is a condition precedent to this Agreement becoming effective.

 

		7.	Term and Termination of Employment

 

		7.1.	Either party may terminate the Employee’s employment by providing prior written notice as set forth in
Exhibit A hereto (the “Notice Period”).

 

		7.2.	Without derogating from the rights of the Company under this Agreement and/or any applicable law, the
Company may terminate this Agreement forthwith with immediate effect, at any time, by paying to the Employee the legally required compensation
in lieu of the Notice Period and to the extent applicable, the Termination Grant as defined above.

 

		7.3.	Notwithstanding the aforementioned, the Company shall be entitled to terminate this Agreement with immediate
effect, at any time, where said termination is a termination for Cause (as defined below). In such event, without derogating from the
rights of the Company under this Agreement and/or any applicable law, the Employee shall not be entitled to any Notice Period or any payment
in lieu of any Notice Period.

 

		7.4.	The following reasons shall be deemed Cause:

 

		(i)	The Employee commits a fundamental breach of this Agreement
or substantial lack of performance, including, without limitation, a breach of his covenants in Exhibit B and the above Sections 2, 3,
4 and 6;

 

		(ii)	The Employee performs any act that entitles the Company to dismiss him without paying him severance pay
(in whole or in part) in connection with such dismissal;

 

		(iii)	The Employee breaches his duty of good faith to the Company;

 

		(iv)	The Employee’s conviction of a dishonorable criminal offense; or

 

		(v)	The Employee’s intentional gross misconduct in the performance
of his obligations under this Agreement in a manner that causes (or is likely to cause) material harm to the Company

 

		7.5.	During the Notice Period, whether notice has been given by the Employee or by the Company, the Employee
shall continue to render his services to the Company unless instructed otherwise by the Company and shall cooperate with the Company and
use his best efforts to assist the integration into the Company organization of the person or persons who will assume the Employee’s responsibilities

 

    6

    

    

 

		8.	Separation Grant

 

		8.1.	In the event of termination of Employee’s employment by the Company without Cause (as defined above),
the Company shall pay to the Employee a special separation grant (the “Separation Grant”) under the following terms:

 

		8.1.1.	The Separation Grant shall be calculated as follows: nine monthly salaries minus the Statutory Severance
Pay the Employee shall be entitled to at the termination date of his employment. “Statutory Severance Pay” shall mean the
amount of accrued amounts in the Pension Insurance and supplemental severance pay required under law if any).

 

		8.1.2.	The definition of monthly salaries shall be either Monthly Salary or New Monthly Salary according to the
Employees salary at the termination date.

 

		8.1.3.	The Termination Grant shall be paid as a one-time lump sum together with the account settlement and shall
not be considered a salary component for any purpose including for calculating social rights such as severance pay.

 

		8.1.4.	Payment of the Separation Grant is subject to Employee’s execution of a waiver and release.

 

		9.	General Provisions

 

		9.1.	The Employee represents and warrants to the Company that the execution and delivery of this Agreement
and the fulfillment of the terms hereof (i) will not constitute a default under or breach of any agreement or other instrument to which
he is a party or by which he is bound, including without limitation, any confidentiality or non-competition agreement, (ii) do not require
the consent of any person or entity, and (iii) shall not utilize during the term of Employee’s employment any proprietary information
of any third party, including prior employers of the Employee.

 

		9.2.	Employee shall not be entitled to any additional bonus, payment or other compensation in connection with
Employee’s employment with Company, other than as provided in this Agreement.

 

		9.3.	Company’s failure or delay in enforcing any of the provisions of this Agreement shall not, in any
way, be construed as a waiver of any such provisions, or prevent Company thereafter from enforcing each and every other provision of this
Agreement which were previously not enforced.

 

		9.4.	This Agreement constitutes the entire understanding and agreement between the parties hereto, supersedes
any and all prior discussions, agreements and correspondence with regard to the subject matter hereof, and may not be amended, modified
or supplemented in any respect, except by a subsequent writing executed by both parties hereto.

 

    7

    

    

 

IN WITNESS WHEREOF, the parties have executed
this Agreement as of the date first appearing above.

 

	BiondVax Pharmaceuticals Ltd.	 	Employee

 

	By:	/s/ Ron Babecoff	 	/s/ Amir Reichman
	Title:	Chief Executive Officer	 	 
	 	 	 	 
	By:	/s/ Mark Germain	 	 
	Title:	Chairman of the Board	 	 

 

    8

    

    

 

Exhibit A

 

to the Personal Employment Agreement by and
between BiondVax Pharmaceuticals Ltd. and the Employee whose name is set forth herein subject to the provisions of the Agreement relating
to the matters below

 

	Agreement Date	 	 
	 	 	 
	Employee Personal Details	 	Full Name: Amir Reichman
	 	 	 
	Position in the Company	 	CEO
	 	 	 
	
    Commencement Date
	 	March 2, 2021
	 	 	 
	Supervisor	 	Company’s Board of directors
	 	 	 
	Notice Period 	 	60 days
	 	 	 
	Amount of vacation days per year:	 	21 working days and not less than applicable law (“Annual Allowance”)
	 	 	 
	Maximum Amount of accrued vacation days	 	40
	 	 	 
	Scope of Employment	 	Full time
	 	 	 
	Annual Salary	 	USD 350,000
	 	 	 
	
    Monthly Salary
	 	
    USD 29,166.66 (gross) - NIS 91,408.31 (gross)
(based on exchange rate of NIS 3.134 to 1US$). Employee’s Monthly Salary may change from one month to the other according to the
applicable USD-NIS exchange rate at the last day of the month.

	 	 	 
	First Period Monthly Salary	 	Pro-rated portion of Monthly
    Salary (20% of Monthly Salary according to the then applicable USD-NIS exchange rate at the last day of the month)
	 	 	 
	Insured Salary (for pension fund)	 	NIS 26,378 (gross) [as may change from time to time in accordance with the then applicable tax ceiling regulations]
	 	 	 
	Fund Insured Salary (for Advanced Study Fund)	 	NIS 15,712 (gross) [as may change from time to time in accordance with the then applicable tax ceiling regulations]
	 	 	 
	Car Expenses Limit	 	Up to the Monthly Limit. Monthly Limit shall be calculated at the value of annual cost of USD 24,000 divided by 12 months (USD 2,000 per month) and shall be paid in NIS according to the applicable exchange rate of USD - NIS at the last day of each month 
	 	 	 
	Signing Bonus	 	USD 50,000 (gross) which shall be paid in NIS, according to the official USD-NIS exchange rate in effect at the date of each payment
	 	 	 
	Sick days	 	Per applicable law
	 	 	 
	Convalescence Pay	 	Included in the Monthly Salary 

 

	BiondVax Pharmaceuticals Ltd.	 	Employee

 

	By:	/s/
    Ron Babecoff	 	/s/
    Amir Reichman
	Title:	Chief Executive Officer	 	 

 

	By:	/s/
    Mark Germain	 
	Title:	Chairman of the Board	 

 

 

9Exhibit 4.18

 

CERTAIN INFORMATION IDENTIFIED

BY BRACKETED ASTERISKS ([* * *])

HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE

IT IS BOTH NOT MATERIAL AND WOULD BE

COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

 

Research Collaboration Agreement

 

by and between

 

Max-Planck-Gesellschaft zur Förderung
der Wissenschaften e.V.

a German non-profit research organization
having its postal address at

Hofgartenstr. 8, 80539 München,
Germany

 

represented for the purpose of this
agreement by

Prof. Dr. Patrick Cramer, Managing
Director at the

Max Planck Institute for Multidisciplinary
Sciences in Göttingen, Germany

 

-hereinafter called “MPG”-

 

and

 

Georg-August-Universität Göttingen
Stiftung Öffentlichen Rechts

Universitätsmedizin Göttingen

a German university having its postal address at

Robert-Koch-Str. 40, 37075 Göttingen

 

-hereinafter called “UMG”-

 

and

 

BiondVax Pharmaceuticals Ltd.

an Israeli corporation having a principal
place of business at

Jerusalem BioPark Building, 2nd Floor, Hadassah
Ein Kerem Campus

Jerusalem, Israel

 

-hereinafter called “BiondVax”-

 

-MPG, UMG and BiondVax are hereinafter also individually
called a “Party”,

and collectively called the “Parties”-

 

     

     

    

 

Recitals

 

		0.1	MPG is a German non-profit scientific research organization. The Max Planck Institute for Multidisciplinary
Sciences in Göttingen (the institute was named “Max Planck Institute for Biophysical Chemistry” until December 31, 2021,
and is hereinafter referred to as “MPI-MS”) is a research institute of MPG, and is not a separate legal entity. At the
MPI-MS, Prof. Dirk Görlich is a director and heads the department “Cellular Logistics” (the “Görlich Department”).
The MPI-MS has its own alpaca herd used for its research activities.

 

		0.2	UMG is one of the largest University hospitals in Germany and also a Medical Faculty of the Georg-August-Universität
Göttingen Stiftung Öffentlichen Rechts, and therefore a public teaching and research organization. At UMG, Prof. Matthias Dobbelstein
heads the Institute of Molecular Oncology, and heads a research group within such institute (such research group, the “Dobbelstein
Department”). The UMG has a S3 laboratory which is available for the Dobbelstein Department for its research activities.

 

		0.3	The Görlich Department has, with support of the Dobbelstein Department, developed the General Nanobody
Technology (as later defined herein) for the generation and initial validation and characterization of Nanobodies (as later defined herein).

 

		0.4	By using the General Nanobody Technology, scientists of the Görlich Department have generated certain
Nanobodies against the SARS-CoV-2 corona virus, and scientists of the Dobbelstein Department have validated such Nanobodies, thereby showing
the general feasibility of the General Nanobody Technology for generating new Nanobodies which bind selectively and potently on specific
molecular targets.

 

		0.5	Max-Planck-Innovation GmbH, München, Germany (“MI”) is a 100% subsidiary of MPG,
and acts as MPG’s technology transfer agency. MI is authorized by MPG to sign commercialization agreements concerning intellectual property
owned and controlled by MPG in MI’s own name for the account of MPG. UMG, through involving MBM Science Bridge GmbH (“MBM”),
its technology transfer organization, will commercialize intellectual property owned and controlled by UMG in UMG’s own name.

 

		0.6	BiondVax is a NASDAQ-listed biopharmaceutical company that is currently seeking for business opportunities
in the field of recombinant protein-based vaccines and antibodies, particularly Nanobodies, for medicinal use in prevention and treatment
of various diseases.

 

		0.7	The Parties intend to collaborate jointly on the generation and initial validation and characterization
of new Nanobodies against various molecular targets listed in Appendix 0.7 (the “Target List”, which might
be amended in accordance with this RCA, and each molecular target on the Target List (as might be amended) hereinafter a “Target”).
The research activities relating to a specific Target pursued in said joint collaboration will form a respective Subproject (as further
defined hereinafter), and all Subprojects together will form the Collaboration Project (as further defined hereinafter).

 

		0.8	In light of the negotiations after conclusion of the term sheet between the Parties dated October 19,
2021, the Görlich Department (and/or the Dobbelstein Department, as applicable) have, before signing of this RCA, already started
the generation of Nanobodies against some of the Targets (that were already contained in the target list attached to such term sheet).
During the negotiations of this RCA, the Parties agreed that Nanobodies (and related Know-how) already generated by the Görlich Department
(and/or the Dobbelstein Department, as applicable) through these works before signing of this RCA will be included in this RCA.

 

    Page 2/47

     

    

 

		0.9	In consideration of its collaborative efforts and the funding provided by BiondVax to MPG/MPI-MS and UMG
in connection with the Collaboration Project, BiondVax shall, during the term of this RCA, enjoy exclusivity with respect to the research
collaboration for Nanobodies against the Targets, and shall be granted on a Subproject-by-Subproject basis, an exclusive option to take
a royalty-bearing, worldwide, sublicensable, transferable license, which shall be exclusive under the respective Target-specific Nanobody
Technology, and non-exclusive, but exclusive with respect to the relevant Target pursued in the relevant Subproject, under the respective
Enabling Nanobody Technology, according to the terms and conditions agreed herein and as set forth in the Sample License Agreement (as
further defined herein).

 

Now, therefore, the Parties agree as follows:

 

 1. DEFINITIONS

 

		1.1	“Affiliates”

 

shall mean any legal entity (including,
without limitation, a corporation, partnership, or limited liability company) that controls, is controlled by, or is under common control
with, a Party. For the purpose of this definition, the term “control” means (i) direct or indirect ownership of more than fifty
percent (50%) of the voting securities of a legal entity, or (ii) a greater than fifty percent (50%) interest in the net assets or profits
of a legal entity, or (iii) possession, directly or indirectly, of the power to elect or direct the management of a legal entity.

 

		1.2	“Background Technology MPG/UMG”

 

shall mean any Patent Rights and/or
Know-how in the field of Nanobodies that

 

		(a)	has been generated by or on behalf of the Görlich Department (and/or the Dobbelstein Department,
as applicable) prior to the Effective Date, and

 

		(b)	is Controlled by MPG and/or by UMG, and

 

		(c)	is necessary or useful to perform the Collaboration Project.

 

The Background Technology MPG/UMG
at the Effective Date consists of the General Nanobody Technology, and also includes Intellectual Property Rights Controlled by MPG and/or
UMG generated as Enabling Nanobody Technology (as defined herein) under the Accompanying Research Collaboration Agreement between the
Parties with effective date December 21, 2021 and/or included as Enabling Nanobody Technology (as defined herein) in the license agreement
between BiondVax and MI regarding SARS-CoV-2 with effective date December 21, 2021.

 

		1.3	“Background Technology BiondVax”

 

shall mean any Patent Rights
and/or Know-how that

 

		(a)	has been generated by or on behalf of BiondVax (and/or its Affiliates) prior to the Effective Date, and

 

		(b)	is Controlled by BiondVax (and/or its Affiliates), and

 

		(c)	is necessary or useful to perform the Collaboration Project.

 

The Background Technology BiondVax
at the Effective Date is described or listed in Appendix 1.3.

 

		1.4	“Background Technology”

shall mean collectively the Background
Technology MPG/UMG and the Background Technology BiondVax.

 

    Page 3/47

     

    

 

		1.5	“Collaboration Compounds”

 

shall mean any Nanobodies (e.g. as
monomers or any other construct such as dimers, trimers etc., including any complementarity-determining regions, fragments, derivatives,
modifications, complexes, or conjugates thereof) that

 

		(a)	selectively bind to a Target, and

 

		(b)	are generated in the course of this RCA by or on behalf of the Görlich Department (and/or the Dobbelstein
Department, as applicable), and are Controlled by MPG (and/or UMG, as applicable)

 

For clarity, the Collaboration Compounds
are part of the Collaboration Know-how, to the extent the Collaboration Compounds are not yet disclosed in any Collaboration Patent Rights.

 

For the avoidance of doubt, the term
“in the course of the RCA” under (b) above shall include also those compounds fulfilling the requirement under (a) for which
the activities for their generation have been already started by or on behalf of the Görlich Department (and/or the Dobbelstein Department,
as applicable) before signing of the RCA in light of the negotiations after conclusion of the term sheet between the Parties dated October
19, 2021, or after the exercise of the Option through supporting research activities as set forth in the RCA.

 

		1.6	“Collaboration Know-how”

 

shall mean collectively the Sole MPG/UMG
Collaboration Know-how, the Joint Collaboration Know-how and the Sole BiondVax Collaboration Know-how. For clarity, Collaboration Know-how
includes Collaboration Compounds, and excludes Background Technology and Sideground Technology.

 

		1.7	“Collaboration Patent Rights”

 

shall mean collectively the Sole MPG/UMG
Collaboration Patent Rights, the Joint Collaboration Patent Rights and the Sole BiondVax Collaboration Patent Rights. For clarity, Collaboration
Patent Rights shall exclude Background Technology and Sideground Technology.

 

		1.8	“Collaboration Project”

 

shall mean the research activities
to be performed by or on behalf of the Görlich Department and/or the Dobbelstein Department and/or BiondVax (or its Affiliates),
as the case may be, with respect to the generation and initial validation and characterization of new Nanobodies against the Targets on
the Target List (as might be amended in accordance with this RCA) targeted for use in medicinal or diagnostic products for therapy and/or
prevention (including companion diagnostics for such medicinal products) and/or diagnosis of various diseases in humans in the course
of this RCA. For each Target, the Collaboration Project will from the Effective Date encompass a respective individual Subproject, and
the general activities to be conducted and deliverables to be provided in each Subproject are set forth in the Project Plan (which might
be amended on a Subproject-by-Subproject basis in accordance with this RCA).

 

		1.9	“Collaboration Technology”

 

shall mean collectively the Collaboration
Know-how and the Collaboration Patent Rights.

 

		1.10	“Commencement Date”

 

shall mean the day after the Effective
Date on which the research activities with respect to the first Subproject actually start and which the Parties aim to take place no later
than [***] after the Effective Date. The Commencement Date will be agreed upon by the Parties and documented by the JSC.

 

		1.11	“Complete Invention Disclosure”

 

shall have the meaning ascribed to
it in Section 8.4.1.

 

		1.12	“Compound Acceptance Criteria”

 

shall mean the properties and objectives
to be fulfilled by the Collaboration Compounds generated and researched in the course of any individual Subproject according to the criteria
list in Appendix 1.12, which may be further defined mutually by the Parties in accordance with this RCA for each Target pursued
in the relevant Subproject.

 

    Page 4/47

     

    

 

		1.13	“Confidential Information”

 

		(a)	shall mean any information which is of a confidential and/or proprietary nature and not readily available
to a Third Party (including, without limitation, information in relation to the business of a Party to which this RCA relates, and information
in relation to Intellectual Property Rights Controlled by a Party), which is disclosed by a Party (the “Disclosing Party”)
to another Party (the “Receiving Party”) under or in connection with this RCA.

 

		(b)	Confidential Information specifically excludes any information that the Receiving Party can prove by adequate
proof (i) was known by the Receiving Party prior to the receipt of Confidential Information of the Disclosing Party (for the avoidance
of doubt, any previous disclosure of Confidential Information by or on behalf of the Disclosing Party to the Receiving Party under any
other research collaboration between the Parties shall not result in this exemption), (ii) was disclosed to the Receiving Party by a Third
Party having the right to do so, (iii) was, or subsequently became, part of the public domain through no fault of the Receiving Party,
or (iv) was subsequently and independently developed by or on behalf of the Receiving Party without having had access to, or making use
of, the Disclosing Party’s Confidential Information.

 

		(c)	For the avoidance of doubt, the Background Technology MPG/UMG not yet disclosed shall constitute Confidential
Information of MPG and/or UMG; Background Technology BiondVax not yet disclosed shall constitute Confidential Information of BiondVax;
the Sole MPG/UMG Collaboration Technology shall constitute Confidential Information of MPG and/or UMG; the Joint Collaboration Technology
shall constitute Confidential Information of MPG/UMG and BiondVax, and the Sole BiondVax Collaboration Technology shall constitute Confidential
Information of BiondVax.

 

		1.14	“Control” or “Controlled”

 

shall mean, with respect to any Intellectual
Property Right, the legal authority or right of a Party (whether by full and unrestricted ownership, or by license other than pursuant
to this RCA) to grant a license or sublicense under such Intellectual Property Right, without violating the rights of, or breaching the
terms of any agreement or other arrangement with, any Third Party existing at the time such Party would be required hereunder to grant
such license or sublicense.

 

		1.15	“Disclosing Party”

 

shall have the meaning ascribed to
it in Section 1.13(a).

 

		1.16	“Dispute”

 

shall have the meaning ascribed to
it in Section 11.1.

 

		1.17	“Dobbelstein Department”

 

shall have the meaning ascribed to
it in Recitals 0.2.

 

		1.18	“Effective Date”

 

shall mean the date when this RCA
comes into force and effect, which shall be March 21, 2022.

 

		1.19	“Enabling Nanobody Know-how”

 

shall mean any Know-how in the field
of Nanobodies that

 

		(a)	is not directly relating to the Collaboration Compounds generated in the relevant Subproject,

 

    Page 5/47

     

    

 

		(b)	has been created before the Effective Date of this RCA, or will be created during the Term of this RCA,
by or on behalf of the Görlich Department (and/or the Dobbelstein Department, as applicable) (either solely, or jointly with and
by or on behalf of BiondVax or its Affiliates, as the case may be),

 

		(c)	is necessary for the use of Collaboration Compounds generated in the relevant Subproject in the development
or commercialization of medicinal or diagnostic products for the therapy and/or prevention and/or diagnosis of various diseases in humans,
and

 

		(d)	is Controlled by MPG (and/or UMG, as applicable) (either solely, or jointly with BiondVax or its Affiliates,
as the case may be).

 

The Enabling Nanobody Know-how will
be identified and described for each relevant Subproject in a Subproject Technology Compilation Document in accordance with Section 2.10.

 

It is the common understanding of
the Parties that “directly relating” as used under (a) means any item of the Know-how which relates to the composition of matter
of the Collaboration Compounds, or the use of the Collaboration Compounds in relation to the relevant Target pursued in the relevant Subproject,
or otherwise addresses properties of the Collaboration Compounds specific for said Target (e.g. complementary-binding regions). An item
of Know-how which is reasonably to be expected to also address properties of Nanobodies (e.g. backbone structure) that are designed to
bind to targets other than the relevant Target pursued in the relevant Subproject, and/or the generation, manufacture and use of such
Nanobodies outside the field of prevention or therapy or diagnosis of human diseases related to the relevant Target pursued in the relevant
Subproject, shall be regarded to “not directly relating to the Collaboration Compounds” in the meaning of (a).

 

		1.20	Enabling Nanobody Patent Rights

 

shall mean any Patent Rights in the
field of Nanobodies that

 

		(a)	are claiming inventions that (i) do not directly relate to the Collaboration Compounds generated in the
relevant Subproject, and (ii) have been created before the Effective Date of this RCA, or will be created during the Term of this RCA,
by or on behalf of the Görlich Department (and/or the Dobbelstein Department, as applicable) (either solely, or jointly with and
by or on behalf of BiondVax or its Affiliates, as the case may be),

 

		(b)	are necessary for the use of Collaboration Compounds generated in the relevant Subproject in the development
or commercialization of medicinal or diagnostic products for the therapy and/or prevention and/or diagnosis of various diseases in humans,
and

 

		(c)	are Controlled by MPG (and/or UMG, as applicable) (either solely, or jointly with BiondVax or its Affiliates,
as the case may be).

 

The Enabling Nanobody Patent Rights
will be listed for each relevant Subproject in a Subproject Technology Compilation Document in accordance with Section 2.10.

 

It is the common understanding of
the Parties that “directly relating” as used under (a) means any item protected under any patent claim of the relevant Patent
Right which relates to the composition of matter of the Collaboration Compounds, or the use of the Collaboration Compounds in relation
to the relevant Target pursued in the relevant Subproject, or otherwise addresses properties of the Collaboration Compounds specific for
said Target (e.g. complementary-binding regions). An item covered by any patent claim of the relevant Patent Right which is reasonably
to be expected to also address properties of Nanobodies (e.g. backbone structure) that are designed to bind to targets other than the
Target, and/or the generation, manufacture and use of such Nanobodies outside the field of prevention or therapy or diagnosis of human
diseases related to the relevant Target pursued in the relevant Subproject, shall be regarded to “not directly relating to the Collaboration
Compounds” in the meaning of (a).

 

    Page 6/47

     

    

 

		1.21	“Enabling Nanobody Technology”

 

shall mean, with respect to each relevant
Subproject, collectively the Enabling Nanobody Know-how and the Enabling Nanobody Patent Rights.

 

		1.22	“General Nanobody Technology”

 

shall mean all Patent Rights and Know-how
that are Controlled by MPG and/or UMG that are necessary or useful for creating and researching any Nanobodies against various molecular
targets. General Nanobody Technology shall include, without limitation, (i) the immunization of the alpacas, the generation of immune
libraries, the phage display selection and purification of Nanobodies (each performed by the Görlich Department), and (ii) the development
of cell-based assays for the testing and screening of Nanobodies for their initial validation and characterization (each performed by
the Dobbelstein Department). For the avoidance of doubt, it shall not be excluded per se that any item of General Nanobody Technology
might be qualified mutually by the Parties in accordance with this RCA as Enabling Nanobody Technology with respect to a Subproject.

 

		1.23	“Görlich Department”

 

shall have the meaning ascribed to
it in Recitals 0.1.

 

		1.24	“Intellectual Property Rights”

 

shall mean all rights with respect
to (i) Patent Rights, (ii) trademarks (all registrations and applications therefor), (iii) all copyrightable works of authorship (whether
published or unpublished), all registered or unregistered copyrights, all copyright registrations, applications for registration and renewals,
and all rights corresponding to the foregoing throughout the world; (iv) utility models, design rights, and (v) Know-how.

 

		1.25	“Intended Publication”

 

shall have the meaning ascribed to
it in Section 7.1.

 

		1.26	“Joint Collaboration Know-how”

 

shall mean any Know-how that

 

		(a)	is generated in the course of this RCA jointly (i) by or on behalf of the Görlich Department and/or
the Dobbelstein Department, and (ii) by or on behalf of BiondVax (or its Affiliates), and

 

		(b)	is Controlled jointly by (i) MPG and/or UMG, and (ii) BiondVax (or its Affiliates).

 

The Joint Collaboration Know-how will
be identified and described for each Subproject in a Subproject Technology Compilation Document in accordance with Section 2.10.

 

For clarity, Joint Collaboration Know-how
excludes Background Technology, Sideground Technology, Sole BiondVax Collaboration Know-how and Sole MPG/UMG Collaboration Know-how. For
the avoidance of doubt, the term “in the course of the RCA” under (a) above shall include also Know-how fulfilling also the
requirement under (b) for which the activities for its generation has been already started by or on behalf of the Görlich Department
(and/or the Dobbelstein Department, as applicable) and/or BiondVax before signing of the RCA in light of the negotiations after conclusion
of the term sheet between the Parties dated October19, 2021, or after the exercise of the Option through supporting research activities
as set forth in the RCA.

 

    Page 7/47

     

    

 

		1.27	“Joint Collaboration Patent Rights”

 

shall mean any
Patent Rights that

 

		(a)	are claiming inventions that have been created in the course of this RCA jointly (i) by or on behalf of
the Görlich Department and/or the Dobbelstein Department, and (ii) by or on behalf of BiondVax (or its Affiliates), and

 

		(b)	are Controlled jointly by (i) MPG and/or UMG, and (ii) BiondVax (or its Affiliates).

 

The Joint Collaboration Patent Rights
will be listed for each Subproject in a Subproject Technology Compilation Document in accordance with Section 2.10.

 

For clarity, Joint Collaboration Patent
Rights shall exclude Background Technology, Sideground Technology, Sole BiondVax Collaboration Patent Rights and Sole MPG/UMG Collaboration
Patent Rights. For the avoidance of doubt, the term “in the course of the RCA” under (a) above shall include also inventions
fulfilling also the requirement under (b) for which the activities for their generation has been already started by or on behalf of the
Görlich Department (and/or the Dobbelstein Department, as applicable) and/or BiondVax before signing of the RCA in light of the negotiations
after conclusion of the term sheet between the Parties dated October 19, 2021, or after the exercise of the Option through supporting
research activities as set forth in the RCA.

 

		1.28	“Joint Collaboration Technology”

 

shall mean collectively the Joint
Collaboration Know-how and the Joint Collaboration Patent Rights.

 

		1.29	“Joint Steering Committee” or “JSC”

 

shall have the meaning as ascribed
to them in Section 3.1.

 

		1.30	“Know-how”

 

shall mean collectively

 

		(a)	any scientific or technical information, results, data, experience and knowledge of any type whatsoever,
in any tangible or intangible form whatsoever, including without limitation discoveries, inventions not yet patented, trade secrets, databases,
practices, protocols, regulatory filings, methods, processes, techniques, biological, chemical and other materials (including, without
limitation, targets, hits and leads), reagents, specifications, formulations, formulae, data (including pharmacological, biological, chemical,
medicinal chemistry, structural, toxicological and clinical information) analytical, quality control, and stability data, studies and
procedures and development information, results and data not patentable, all to the extent not claimed or disclosed in a Patent Right,
and

 

		(b)	that is secret (i.e., not generally known or easily accessible), substantial (i.e., significant and/or
necessary for the development and/or commercialization of compounds or products) and identified (i.e., described in a sufficiently comprehensive
manner so as to make it possible to verify that it fulfills the criteria of secrecy and substantiality).

 

For clarity, if clause (b) is no longer
satisfied because any of the items in clause (a) are no longer secret due to a breach of the confidentiality and/or publication provisions
of this RCA by any Party, then such items in clause (a) shall no longer be classified as Know-how, notwithstanding any potential legal
(damages) claims and rights the non-breaching Party might have against the breaching Party based on any breach of contractual and/or statutory
obligation of confidentiality.

 

		1.31	“Material”

 

shall mean collectively (i) the Collaboration
Compounds, and (ii) any other biological or chemical materials or other reagents, including related documentation, that is provided by
a Party to another Party in the course of this RCA.

 

		1.32	“Nanobodies”

 

shall mean VHH antibodies (i.e. the
single domain variable region of the heavy chain of camelid-derived antibodies).

 

		1.33	“Nomination Of Pre-clinical Development Candidate”

 

shall mean the decision of BiondVax
or its Affiliates to nominate a Collaboration Compound as a candidate for toxicological pre-clinical studies in animals (also commonly
referred to as “GLP TOX studies”) as required by competent Regulatory Authorities as pre-requisite for submission of an IND
for such Collaboration Compound.

 

    Page 8/47

     

    

 

		1.34	“Option”

 

shall have the meaning ascribed to
it in Section 9.1.

 

		1.35	“Patent Rights”

 

shall mean collectively

 

		(a)	any national, regional and international patent application(s) filed in any jurisdiction of the world,
including provisional patent applications, having a specific priority date and directed to a specific inventive subject matter, and the
resulting issued patents,

 

		(b)	any subsequent patent application(s) in any jurisdiction claiming the same priority date and directed
to the same inventive subject matter as the patent application(s) described in (a) above, and any divisionals, continuations, continuation-in-part
applications, and continued prosecution applications (and their relevant international equivalents) of the patent application(s) described
in (a) above, and the resulting issued patents, and

 

		(c)	any patents resulting from reissues, re-examinations, or patent term extensions (including supplemental
protection certificates) (and their relevant international equivalents) of the patents and patent application(s) described in (a) and
(b) above.

 

		1.36	“Project Plan”

 

shall mean the scientific and technical
description of the research activities to be conducted by the Parties in performance of any Subproject in the course of the Collaboration
Project. The general activities to be conducted and deliverables to be provided in each Subproject of the Collaboration Project are set
forth Appendix 1.36. This general Project Plan will be refined and adapted for each individual Subproject in accordance with this
RCA in order to determine inter alia, but not limited to, the individual work packages assigned to the respective Party, time frames and
deadlines, responsibilities, deliverables, milestones, goals and the like specific for the relevant Subproject. In case of any discrepancies
between the Project Plan as refined and adapted for each individual Subproject from time to time and any other provision of this RCA,
this RCA shall prevail unless this is explicitly agreed otherwise by the Parties in accordance with this RCA.

 

		1.37	“RCA”

 

shall mean this research collaboration
agreement between MPG (acting through the Görlich Department at MPI-MS), UMG (acting through the Dobbelstein Department) and BiondVax
(acting through its Affiliates, as the case may be), including all of its appendices. In case of any discrepancies between the main text
of this RCA and its appendices, the main text shall prevail.

 

		1.38	“Receiving Party”

 

shall have the meaning ascribed to
it in Section 1.13(a).

 

		1.39	“Regulatory Authority”

 

shall mean any local, state, federal,
national, supranational or international regulatory agency, department, bureau or other governmental entity with authority over the clinical
testing, manufacture, marketing, use, and/or sale of a medicinal product in a country, including, without limitation, the FDA and the
EMA.

 

		1.40	“Sample License Agreement”

 

shall mean the sample license agreement
attached to this RCA as Appendix 1.40, that contains the pre-agreed terms and conditions of a license for the Target-specific Nanobody
Technology and Enabling Nanobody Technology of a relevant Subproject in the event BiondVax exercises its Option for the relevant Subproject.

 

    Page 9/47

     

    

 

		1.41	“Sideground Technology BiondVax”

 

shall mean any Patent Rights and/or
Know-how in the field of Nanobodies that

 

		(a)	will be generated by or on behalf of BiondVax or its Affiliates after the Effective Date during the Term
of this RCA but outside of the Collaboration Project,

 

		(b)	is Controlled by BiondVax or its Affiliates, and

 

		(c)	is necessary to perform the Collaboration Project.

 

		1.42	“Sideground Technology MPG/UMG”

 

shall mean any Patent Rights and/or
Know-how in the field of Nanobodies that

 

		(a)	will be generated by or on behalf of the Görlich Department (and/or the Dobbelstein Department, as
applicable) after the Effective Date during the Term of this RCA but outside of the Collaboration Project,

 

		(b)	is Controlled by MPG and/or by UMG, and

 

		(c)	is necessary to perform the Collaboration Project.

 

		1.43	“Sideground Technology”

 

shall mean collectively the Sideground
Technology MPG/UMG and the Sideground Technology BiondVax.

 

		1.44	“Sole BiondVax Collaboration Know-how”

 

shall mean any Know-how that is (i)
generated in the course of this RCA solely by or on behalf of BiondVax or its Affiliates, and (ii) Controlled solely by BiondVax or its
Affiliates. The Sole BiondVax Collaboration Know-how will be identified and described for each Subproject in a Subproject Technology Compilation
Document in accordance with Section 2.10.

 

For clarity, Sole BiondVax Collaboration
Know-how excludes Background Technology, Sideground Technology, Joint Collaboration Know-how and Sole MPG/UMG Collaboration Know-how.

 

		1.45	“Sole BiondVax Collaboration Patent Rights”

 

shall mean any Patent Rights that
(i) claim inventions made in the course of this RCA solely by or on behalf of BiondVax or its Affiliates, and (ii) are Controlled solely
by BiondVax or its Affiliates.

 

The Sole BiondVax Collaboration Patent
Rights will be listed for each Subproject in a Subproject Technology Compilation Document in accordance with Section 2.10.

 

For clarity, Sole BiondVax Collaboration
Patent Rights shall exclude Background Technology, Sideground Technology, Joint Collaboration Patent Rights and Sole MPG/UMG Collaboration
Patent Rights.

 

		1.46	“Sole BiondVax Collaboration Technology”

 

shall mean collectively the Sole BiondVax
Collaboration Know-how and the Sole BiondVax Collaboration Patent Rights.

 

		1.47	“Sole MPG/UMG Collaboration Know-how”

 

shall mean any Know-how that (i) is
generated in the course of this RCA solely by or on behalf of the Görlich Department and/or the Dobbelstein Department, and (ii)
is Controlled solely by MPG and/or UMG.

 

    Page 10/47

     

    

 

The Sole MPG/UMG Collaboration Know-how
will be identified and described for each Subproject in a Subproject Technology Compilation Document in accordance with Section 2.10.

 

For clarity, the Sole MPG/UMG Collaboration
Know-how excludes Background Technology, Sideground Technology, Joint Collaboration Know-how and Sole BiondVax Collaboration Know-how.
For the avoidance of doubt, the term “in the course of the RCA” under (i) above shall include also Know-how for which the activities
for its generation has been already started by or on behalf of the Görlich Department (and/or the Dobbelstein Department, as applicable)
before signing of the RCA in light of the negotiations after conclusion of the term sheet between the Parties dated October 19, 2021,
or after the exercise of the Option through supporting research activities as set forth in the RCA.

 

		1.48	“Sole MPG/UMG Collaboration Patent Rights”

 

shall mean any Patent Rights that
(i) are claiming inventions that have been created in the course of this RCA solely by or on behalf of the Görlich Department and/or
the Dobbelstein Department, and (ii) are Controlled solely by MPG and/or UMG.

 

The Sole MPG/UMG Collaboration Patent
Rights will be listed for each Subproject in a Subproject Technology Compilation Document in accordance with Section 2.10.

 

For clarity, Sole MPG/UMG Collaboration
Patent Rights shall exclude Background Technology, Sideground Technology, Joint Collaboration Patent Rights and Sole BiondVax Collaboration
Patent Rights. For the avoidance of doubt, the term “in the course of the RCA” under (i) above shall include also inventions
for which the activities for their generation has been already started by or on behalf of the Görlich Department (and/or the Dobbelstein
Department, as applicable) before signing of the RCA in light of the negotiations after conclusion of the term sheet between the Parties
dated October 19, , or after the exercise of the Option through supporting research activities as set forth in the RCA.

 

		1.49	“Sole MPG/UMG Collaboration Technology”

 

shall mean collectively the Sole MPG/UMG
Collaboration Know-how and the Sole MPG/UMG Collaboration Patent Rights.

 

		1.50	“Subcontractors”

 

shall mean any Third Party contractor
that is involved by a Party in the performance of the Collaboration Project, and that will perform certain work packages and/or activities
on behalf of such Party, as set forth in Section 4.2.

 

		1.51	“Subproject”

 

shall mean all research activities
conducted with respect to the generation and initial validation and characterization of Nanobodies against 1 (one) Target of the Target
List (as may be amended in accordance with this RCA). The Parties will in accordance with this RCA on an on-going basis refine and adapt
the general Project Plan with respect to the specific requirements of each individual Subproject, in order to determine inter alia, but
not limited to, the individual work packages assigned to the respective Party, time frames and deadlines, responsibilities, deliverables,
milestones, goals and the like specifics for the relevant Subproject.

 

		1.52	“Subproject Technology Compilation Document”

 

shall have the meaning as ascribed
to it in Section 2.10.4.

 

		1.53	“Target”

 

shall have the meaning as ascribed
to it in Recitals 0.7.

 

		1.54	“Target-specific Nanobody Know-how”

 

shall mean any Know-how that

 

		(a)	is directly relating to the Collaboration Compounds generated in the relevant Subproject,

 

		(b)	is created in the course of this RCA by or on behalf of the Görlich Department (and/or the Dobbelstein
Department, as applicable) (either solely, or jointly with and by or on behalf of BiondVax or its Affiliates, as the case may be), and

 

    Page 11/47

     

    

 

		(c)	is Controlled by MPG (and/or UMG, as applicable) (either solely, or jointly with BiondVax or its Affiliates,
as the case may be).

 

For clarity, the term “Target-specific
Nanobody Know-how” includes the Collaboration Compounds generated in the relevant Subproject, to the extent the Collaboration Compounds
are not yet disclosed in any Target-specific Nanobody Patent Rights at the relevant point in time. For the avoidance of doubt, the term
“in the course of the RCA” under (b) above shall include also Know-how fulfilling the requirements under (a) for which the activities
for its generation has been already started by or on behalf of the Görlich Department (and/or the Dobbelstein Department, as applicable)
(either solely, or jointly with BiondVax or its Affiliates, as the case may be) before signing of the RCA in light of the negotiations
after conclusion of the term sheet between the Parties dated October 19, 2021, or after the exercise of the Option through supporting
research activities as set forth in the RCA.

 

The Target-specific Nanobody Know-how
will be identified and described for each Subproject in a Subproject Technology Compilation Document in accordance with Section 2.10.

 

It is the common understanding of
the Parties that “directly relating” as used under (a) means any item of the Know-how which relates to the composition of matter
of the Collaboration Compounds, or the use of the Collaboration Compounds in relation to the relevant Target pursued in the relevant Subproject,
or otherwise addresses properties of Collaboration Compounds specific for said Target (e.g. complementary-binding regions). An item of
Know-how which is reasonably to be expected to also address properties of Nanobodies (e.g. backbone structure) that are designed to bind
to targets other than the relevant Target pursued in the relevant Subproject, and/or the generation, manufacture and use of such Nanobodies
outside the field of prevention or therapy or diagnosis of human diseases related to the relevant Target pursued in the relevant Subproject,
shall be regarded to “not directly relating to the Collaboration Compounds” in the meaning of (a).

 

		1.55	“Target-specific Nanobody Patent Rights”

 

shall mean any Patent Rights that

 

		(a)	are claiming inventions that (i) directly relate to the Collaboration Compounds generated in the relevant
Subproject, and (ii) are created in the course of this RCA by or on behalf of the Görlich Department (and/or the Dobbelstein Department,
as applicable) (either solely, or jointly with and by or on behalf of BiondVax or its Affiliates, as the case may be), and

 

		(b)	are Controlled by MPG (and/or UMG, as applicable) (either solely, or jointly with BiondVax or its Affiliates,
as the case may be).

 

For the avoidance of doubt, the term
“in the course of the RCA” under (a) (ii) above shall include also inventions fulfilling the requirements under (a) (i)
for which the activities for their generation has been already started by or on behalf of the Görlich Department (and/or the Dobbelstein
Department (either solely, or jointly with BiondVax or its Affiliates, as the case may be), as applicable) before signing of the RCA in
light of the negotiations after conclusion of the term sheet between the Parties dated October 19, 2021, or after the exercise of the
Option through supporting research activities as set forth in the RCA.

 

The Target-specific Nanobody Patent
Rights will be listed for each Subproject in a Subproject Technology Compilation Document in accordance with Section 2.10.

 

It is the common understanding of
the Parties that “directly relating” as used under (a) means any item protected under a patent claim of the relevant Patent
Right which relates to the composition of matter of the Collaboration Compounds, or the use of the Collaboration Compounds in relation
to the relevant Target pursued in the relevant Subproject, or otherwise addresses properties of the Collaboration Compounds specific for
said Target (e.g. complementary-binding regions). An item covered by a patent claim of the relevant Patent Right which is reasonably to
be expected to also address properties of Nanobodies (e.g. backbone structure) that are designed to bind to targets other than the relevant
Target pursued in the relevant Subproject, and/or the generation, manufacture and use of such Nanobodies outside the field of prevention
or therapy or diagnosis of human diseases related to the relevant Target pursued in the relevant Subproject, shall be regarded to “not
directly relating to the Collaboration Compounds” in the meaning of (a).

 

    Page 12/47

     

    

 

		1.56	“Target-specific Nanobody Technology”

 

shall mean collectively the Target-specific
Nanobody Know-how and the Target-specific Nanobody Patent Rights.

 

		1.57	“Term”

 

shall have the meaning ascribed to
it in Section 12.1.

 

		1.58	“Third Party”

 

shall mean any person or entity other
than MPG, MI, UMG and BiondVax, and their respective Affiliates.

 

2. OBJECTIVES AND SCOPE OF THE
COLLABORATION PROJECT

 

		2.1	General Principles of the Collaboration Project. The Parties work jointly together to advance the
Collaboration Project for each Subproject, and to perform research with the goal to generate and initially validate and characterize new
Nanobodies against the Targets on the Target List (as might be amended in accordance with this RCA), in order to create Collaboration
Compounds targeted for use in medicinal and/or diagnostic products for therapy and/or prevention and/or diagnosis of various diseases
in humans. For each Target, the Collaboration Project will encompass an individual Subproject and the general activities to be conducted
in each Subproject are set forth in the general Project Plan attached to this RCA as Appendix 1.36 (as might be amended in accordance
with this RCA). BiondVax will fund the respective research work of the Görlich Department and the Dobbelstein Department. BiondVax
acknowledges that (i) neither MPG/MPI-MS nor UMG is allowed to perform contract research for or on behalf of a company, (ii) MPG/MPI-MS
and UMG always need to pursue their own scientific interests when collaborating with a company. The Parties further have the common understanding
that (iii) the Parties will use reasonable efforts to perform their respective work packages, but are not obliged to achieve the intended
specific goals set forth in the Project Plan for each individual Subproject, particularly MPG/MPI-MS and UMG do not warrant to deliver
certain Nanobodies against the relevant Target pursued in any Subproject, (iv) the joint research of the Parties is subject to a performance
risk, and (v) the responsibility for a successful pre-clinical and clinical development and commercialization of pharmaceutical products
lies solely with BiondVax as licensee under the relevant license agreement, if BiondVax exercises the Option for the respective Target-specific
Nanobody Technology and Enabling Nanobody Technology of a specific Subproject.

 

		2.2	Scope of Subprojects. The scope of each individual Subproject pursued in the Collaboration Project
is defined by the Project Plan for the relevant Subproject. The Parties will in accordance with this RCA refine and adapt on an on-going
basis the general Project Plan attached to this RCA as Appendix 1.36 for each individual Subproject in order to determine inter
alia, but not limited to, the individual work packages assigned to the respective Party, time frames and deadlines, responsibilities,
deliverables, milestones, goals and the like specific for the relevant Subproject in accordance with Section 3.2 until the relevant Subproject
is completed or terminated.

 

    Page 13/47

     

    

 

		2.3	Contributions to the Subprojects. The Parties agree to perform their respective research work diligently
by state-of-the art research, in due time and by applying quality criteria and quality control in accordance with applicable standards.
The research activities of MPG/MPI-MS will be conducted by or on behalf of the Görlich Department and the research activities of
UMG will be conducted by or on behalf of the Dobbelstein Department. The Parties understand that the research activities of the Görlich
Department and Dobbelstein Department are based on the General Nanobody Technology. It is the Parties’ further current understanding that
the research activities in the Collaboration Project will be conducted initially solely by the Görlich Department and Dobbelstein
Department, and that the Görlich Department will, as a first step, attempt to simultaneously generate Nanobodies for all Targets
included in the Target List. BiondVax will support these research activities with its Know-how regarding conduct of pharmaceutical research
and development programs and requirements for successful pre-clinical and clinical development for pharmaceutical product commercialization,
including BiondVax’s state-of-the art documentation common and required in the pharmaceutical industry. The Parties may also discuss
to reduce their joint research activities to 1 (one) Subproject for a specific period of the time during the conduct of the Collaboration
Project if there are reasons to concentrate available resources.

 

		2.4	Compound Acceptance Criteria. The Parties will jointly conduct the research work in each individual
Subproject, and the Parties will use reasonable efforts to achieve the Compound Acceptance Criteria applicable for the relevant Subproject.
The list of Compound Acceptance Criteria set forth in Appendix 1.12 may be further defined for each Target pursued in the
relevant Subproject mutually by the Parties in accordance with this RCA.

 

		2.5	Completion or Termination of Subprojects.

 

		2.5.1	A Subproject will be completed (without any further action, e.g. a completion letter, required) upon the
decision of the JSC that the Compound Acceptance Criteria applicable for the relevant Subproject have been achieved.

 

		2.5.2	A Subproject will be terminated (without any further action, e.g. a termination letter, required) if:

 

		2.5.2.1	the JSC decides to abandon a Subproject (i) because it has failed to achieve the Compound Acceptance Criteria
applicable for the relevant Subproject within the agreed timelines (as may be extended from time to time in accordance with this RCA)
or for other important reasons, or (ii) upon request of BiondVax, or

 

		2.5.2.2	BiondVax exercises its Option for a Subproject prior to achieving the Compound Acceptance Criteria applicable
for the relevant Subproject, or

 

		2.5.2.3	Prof. Görlich and Prof. Dobbelstein recommend in writing to discontinue a Subproject prior to achieving
the Compound Acceptance Criteria applicable for the relevant Subproject based on their written statement that the goals and/or objectives
of the relevant Subproject cannot be achieved based on a reasonably detailed scientific and/or technical reasoning, but BiondVax disagrees
and wishes to continue such Subproject on its own, or

 

		2.5.2.4	this RCA expires or is terminated and the JSC has not made a decision that a Subproject has achieved the
Compound Acceptance Criteria applicable for the relevant Subproject until expiry or termination of this RCA (without prejudice to BiondVax’s
right to exercise its Option for any such Subproject at any time in accordance with Section 9).

 

    Page 14/47

     

    

 

		2.5.3	In any case of completion or termination of a Subproject, the joint research activities of the Parties
in the course of the Collaboration Project with respect to such Subproject shall be terminated, and any funds provided by BiondVax for
the Collaboration Project shall be used henceforth for the remaining Subprojects. The completion or termination of a Subproject shall
have no impact on the term or termination of another Subproject.

 

		2.5.4	In case of termination of a Subproject according to Section 2.5.2.1, or if BiondVax does not exercise
its Option for a Subproject, Section 9.4 shall apply.

 

		2.5.5	In case of termination of a Subproject according to Section 2.5.2.3, BiondVax may request from MPG
and UMG (aa) the assignment of their ownership shares in any Target-specific Nanobody Technology within Sole MPG/UMG Collaboration Technology
and Joint Collaboration Technology created in the relevant Subproject, and (bb) the grant of a non-exclusive license, which shall be exclusive
for the Target pursued in the relevant Subproject, under any item of Enabling Nanobody Technology within the Background Technology MPG/UMG,
the Sideground Technology MPG/UMG introduced for the relevant Subproject in accordance with Section 2.10.3, Sole MPG/UMG Collaboration
Technology and Joint Collaboration Technology created in the relevant Subproject, both in return for a fair and reasonable participation
of MPG and UMG in future revenues received by BiondVax from the commercialization of the relevant Subproject. For the avoidance of doubt,
when determining the fair and reasonable participation of MPG and UMG, it shall be considered inter alia the importance of Intellectual
Property Rights of MPG/UMG relative to Intellectual Property Rights of BiondVax as well as the activities, costs and expenses undertaken
by BiondVax to achieve the level of maturity of the relevant Subproject at the time of commercialization of the relevant Subproject. The
Parties understand that said participation of MPG and UMG shall not exceed [***]% of the payments received by BiondVax from the commercialization
of the relevant Subproject in case BiondVax sublicenses the Product resulting from such Subproject, or [***]% of the royalties that should
have been received by MPG and UMG under the Sample License Agreement in case BiondVax or its Affiliates commercializes a Product resulting
from such Subproject by their own. Such request shall be made by BiondVax within [***] of receipt, in writing, by BiondVax of (i) the
reasoning in reasonable detail by Prof. Görlich and Prof. Dobbelstein for the termination of the said Subproject as per Section 2.5.2.3,
(ii) the complete Subproject Technology Compilation Document (including the “Tech File”) to be compiled together for such Subproject
according to Section 2.10, and (iii) the complete Subproject documentation, all to the extent generated and/or available at the time
of the respective written statement of Prof. Görlich and Prof. Dobbelstein pursuant to Section 2.5.2.3.

 

		2.6	Amendment of Target List. If a Subproject fails to achieve the Compound Acceptance Criteria within
the agreed timeline and/or is abandoned by the decision of the JSC, the Parties may, upon mutual written agreement, replace such Target
by adding a new specific molecular target (which shall, upon such replacement, qualify as “Target” for the purpose of this RCA)
to the Target List and by adding a respective Project Plan for such new Target. BiondVax is entitled to request a refill of the Target
List by new specific molecular targets if less than 4 (four) Subprojects have achieved the Compound Acceptance Criteria applicable for
the relevant Subprojects, provided, however, that a maximum of 3 (three) refills by new specific molecular targets shall apply. For the
avoidance of doubt, any Subproject terminated in accordance with Section 2.5.2.3 shall qualify as a Subproject which has not achieved
the Compound Acceptance Criteria irrespective if BiondVax makes or has made the request according to Section 2.5.5 for such Subproject.
The Parties will discuss in good faith and agree on any reasonable adjustments of the funding amount caused by such refills, and if despite
such good faith discussions, no agreement on funding is reached, the respective new specific molecular target in question may not be used
as replacement or refill. In any case of such replacement of a Target by a new specific molecular target to be pursued in the course of
the Collaboration Project, the Target List shall be updated in writing and the updated Target List (that contains such new specific molecular
target) shall be added to this RCA.

 

    Page 15/47

     

    

 

		2.7	Exclusivity. During the term of this RCA, (i) MPG (only with respect to the Görlich Department)
and UMG (only with respect to the Dobbelstein Department) grant BiondVax exclusivity with respect to the generation and initial validation
and characterization of Nanobodies against/relating to all Targets on the Target List (as might be amended in accordance with this RCA),
and (ii) the Görlich Department and the Dobbelstein Department will collaborate only with BiondVax regarding the generation, research
and development of Nanobodies against/relating to the Targets on the Target List (as might be amended in accordance with this RCA). For
the avoidance of doubt, if a Target is no longer covered by the Target List because it was replaced by a new specific molecular target
according to Section 2.6, or the relevant Target is no longer pursued in the course of the Collaboration Project because of completion
or termination of the relevant Subproject according to Section 2.5, BiondVax’s exclusivity shall end for such Target; provided,
however, that in case of termination of a Subproject according to Section 2.5.2.3, the exclusivity for such Target shall continue
to apply for 1 (one) year after receipt of the respective transfer and/or license request of BiondVax with respect to the respective Target-specific
Nanobody Technology and respective Enabling Nanobody Technology of the relevant Subproject pursuant to Section 2.5.5. For the further
avoidance of doubt, if any new specific molecular target is added to the Target List (as refill or replacement) according to Section 2.6,
BiondVax’s exclusivity shall extend to such Target from the date of the respective decision/mutual agreement of the Parties to add it
to the Target List until the completion or termination of the relevant Subproject in accordance with this RCA.

 

		2.8	Mutual Noticing. The Parties agree to keep each other timely informed on any material information,
issues, problems or other developments that they get aware of and that may have a material impact on the Collaboration Project and/or
any Subproject.

 

		2.9	Material Transfer. In the case that a Party provides to another Party Material under this RCA,
the following shall apply:

 

		2.9.1	Except to the extent otherwise provided for in this RCA, the receiving Party acknowledges and accepts
that any Material is experimental in nature and may have hazardous properties, and is provided without warranty of merchantability or
fitness for a particular purpose or any other warranty, express or implied, and without any guarantee that the use of such Material will
not infringe any Intellectual Property Right of Third Parties, and, notwithstanding compliance with any obligation under this RCA (including
under Section 2.8), agrees that in no event shall the providing Party be liable for any use of the Material or for any damages, of
whatsoever kind or nature, which may arise from or in connection with receiving Party ́s receipt, use, handling or storage of the
Material, except to the extent that such damages are caused by the providing Party ́s gross negligence or willful misconduct.

 

		2.9.2	Except to the extent otherwise provided for in this RCA, the receiving Party shall keep the providing
Party indemnified against any damages which might be incurred in the course of or as a result of the receipt, use, handling or storage
of the Material by the receiving Party, except to the extent that such damages are caused by the providing Party ́s gross negligence
or willful misconduct.

 

		2.9.3	The providing Party shall inform the receiving Party of any hazardous properties of the Material known
to the providing Party at the date of the transfer of the Material.

 

    Page 16/47

     

    

 

		2.10	Identification and Qualification of Collaboration Technology, Background Technology MPG/UMG and Sideground
Technology MPG/UMG in each Subproject.

 

		2.10.1	Identification and Qualification of Collaboration Technology. The Parties shall for each Subproject,
as a general rule on a quarterly basis, but at the latest within 60 (sixty) days after the completion or termination of the relevant Subproject,
in good faith (i) identify and describe the respectively generated Sole MPG/UMG Collaboration Know-how, the respective Sole BiondVax Collaboration
Know-how, and the respective Joint Collaboration Know-how, and (ii) list the respective Sole MPG/UMG Collaboration Patent Rights,
the Sole BiondVax Collaboration Patent Rights and the respective Joint Collaboration Patent Rights in the Subproject Technology Compilation
Document. The Parties shall agree in good faith on an on-going basis if and to what extent any such item of Collaboration Technology for
the relevant Subproject qualifies as Target-specific Nanobody Technology or Enabling Nanobody Technology according to the criteria set
forth in the respective definitions of these terms, and shall include it into the Subproject Technology Compilation Document for the relevant
Subproject. Such Collaboration Technology that has been mutually qualified as Target-specific Nanobody Technology or Enabling Nanobody
Technology will be included into the relevant license agreement upon BiondVax’s respective exercise of the Option in accordance with Section 9

 

		2.10.2	Identification and Qualification of Background Technology. MPG and UMG shall, in in good faith
and using reasonable efforts, during the conduct of each Subproject and at the latest upon the completion or termination of the relevant
Subproject according to the relevant Project Plan, identify and describe items of Background Technology MPG/UMG that might, in their reasonable
view, be qualified as Enabling Nanobody Technology for each relevant pursued Subproject according to the criteria set forth in the respective
definition of this term. After such identification, the Parties shall agree in good faith if and to what extent such items of Background
Technology MPG/UMG for the relevant Subproject qualifies as Enabling Nanobody Technology according to the criteria set forth in the respective
definition of this term, and shall include it into the Subproject Technology Compilation Document for the relevant Subproject. The Subproject
Technology Compilation Document for each Subproject shall be updated during the course of a Subproject if necessary, and shall be finalized,
also with respect to such Background Technology MPG/UMG that has been mutually qualified as Enabling Nanobody Technology, at the latest
within 60 (sixty) days after the completion or termination of the relevant Subproject. Such Background Technology MPG/UMG that has been
mutually qualified as Enabling Nanobody Technology will be included into the relevant license agreement upon BiondVax’s respective exercise
of the Option in accordance with Section 9.

 

		2.10.3	Identification, Introduction and Qualification of Sideground Technology. As a general rule, MPG
and/or UMG will not introduce Sideground Technology MPG/UMG into a Subproject. If MPG and/or UMG intend to introduce Sideground Technology
MPG/UMG into a Subproject, during the term of the relevant Subproject, they shall identify and describe items of Sideground Technology
MPG/UMG that might, in their reasonable view, be necessary for the performance of the relevant Subproject and that might, in their reasonable
view, be qualified as Enabling Nanobody Technology according to the criteria set forth the respective definition of this term. Such Sideground
Technology MPG/UMG may be introduced by MPG and UMG into the relevant Subproject, provided that BiondVax has not objected to such introduction
within 60 (sixty) days after being notified in writing of such Sideground Technology MPG/UMG. During said 60 (sixty) days objection period,
the Parties shall mutually agree in good faith on fair market terms (by adapting the license fees scheme contained in the Sample License
Agreement) that shall apply in case BiondVax exercises its Option for such Sideground Technology MPG/UMG mutually qualified as Enabling
Nanobody Technology. In case such agreement on fair market terms has been reached, such Sideground Technology MPG/UMG shall be introduced
into the relevant Subproject and shall be included into the Subproject Technology Compilation Document for the relevant Subproject.

 

    Page 17/47

     

    

 

The Subproject Technology Compilation
Document for each relevant Subproject shall be updated within 60 (sixty) days after any Sideground Technology MPG/UMG has been introduced
in accordance with this Section 2.10.3, and shall be finalized also with respect to such Sideground Technology MPG/UMG that has been
mutually qualified as Enabling Nanobody Technology. Such Sideground Technology MPG/UMG that has been mutually qualified as Enabling Nanobody
Technology will be included into the relevant license agreement upon BiondVax’s respective exercise of the Option in accordance with Section 9.

 

		2.10.4	Documentation. The document containing the technology information compiled together for each Subproject
according to this Section 2.10 (the “Subproject Technology Compilation Document”) shall have substantially the format
as attached as Appendix 2.10, and shall also serve as basis for the respective appendices of the Sample License Agreement
if BiondVax exercises its Option with respect to the relevant Subproject and the respective Target-specific Nanobody Technology and Enabling
Nanobody Technology. As a general rule, the JSC shall compile an update of such Subproject Technology Compilation Document for each Subproject
on a quarterly basis, even if it is still blank or unamended.

 

3. PROJECT GOVERNANCE

 

		3.1	Joint Steering Committee / JSC. In due time after the Effective Date, the Parties will constitute
a joint steering committee (the “Joint Steering Committee” or “JSC”). The JSC will have up to 6 (six)
members, up to 3 (three) nominated by BiondVax, and up to 3 (three) nominated jointly by MPG and UMG.

 

The initial JSC members are:

 

		●	for MPG/UMG: Prof. Dr. Dirk Görlich (MPI-MS) and Prof. Dr. Matthias Dobbelstein (UMG), and, as they
deem appropriate, a person from MPI-MS performing the Collaboration Project and

 

		●	for BiondVax: its CEO Mr. Amir Reichman, CSO Dr. Tammy Ben YedidyaYedidia and Chairman of the Board of
Director Mark Germain

 

Each of BiondVax and MPG/UMG may,
in its sole discretion and at any time, upon written notice to the other Parties, withdraw one or more of the JSC members nominated by
it, and nominate new members as replacement. Upon mutual agreement, the JSC may invite additional representatives from each of the Parties,
or external persons, to join the JSC meetings in accordance with the actual agenda and needs. In its first meeting, the JSC shall agree
upon a member that chairs the JSC.

 

		3.2	JSC Responsibilities. The JSC is responsible for the supervision of the conduct of the Collaboration
Project, as well as for a coordinated communication between the Parties.

 

The JSC shall be responsible and competent
for the following:

 

		3.2.1	Exchange scientific and technical information relating to the Collaboration Project, and review and discuss
research data for each Subproject;

 

    Page 18/47

     

    

 

		3.2.2	Approve the presentation of the results of the Collaboration Project per each Subproject for seeking the
decision for the start of the next phase of the relevant Subproject according to the Project Plan for such Subproject;

 

		3.2.3	Discuss the workflow and, in case a Subproject faces major obstacles, discuss in good faith an appropriate
re-allocation of scientific resources for carrying out the Subprojects according to the Project Plan in the course of the Collaboration
Project;

 

		3.2.4	Ensure the timely execution of the Subprojects and the overall Collaboration Project;

 

		3.2.5	Discuss and approve the outsourcing and/or subcontracting of any activity to be conducted in the relevant
Subproject or the overall Collaboration Project to any Third Party as appropriate;

 

		3.2.6	Advise and assist in the resolution of scientific or technical difficulties;

 

		3.2.7	Compile and update on an on-going basis the Subproject Technology Compilation Document for each Subproject
according to Section 2.10;

 

		3.2.8	After successful completion or termination of a Subproject, compile the final Subproject Technology Compilation
Document (including the “Tech File” as specified in Appendix 2.10) and the final report according to Section 4.5;

 

		3.2.9	Discuss and make suggestions for amendments and further definition of the Compound Acceptance Criteria
for any Subproject;

 

		3.2.10	Discuss and decide on cost-neutral and lab resource-neutral changes or amendments of the Project Plan
for any Subproject (for clarity, cost-bearing or lab resource changes or amendments of the Project Plan for any Subproject require the
agreement of the Parties), and properly document the respective changes or amendments of the Project Plan for each Subproject;

 

		3.2.11	Decide on achievement of the Compound Acceptance Criteria applicable to a Subproject;

 

		3.2.12	Decide to abandon a Subproject (i) because it has failed to achieve the Compound Acceptance Criteria applicable
for the relevant Subproject within the agreed timelines or for other important reasons, or (ii) upon request of BiondVax; and

 

		3.2.13	Discuss and make suggestions for the patent filing and publication strategy for any Collaboration Technology
in consultation with the Parties’ patent attorneys, unless a patent committee is formed by the Parties upon suggestion of the JSC.

 

The JSC shall have no authority to
(i) amend this RCA; (ii) determine whether or not a breach of this RCA has occurred; (iii) alter the rights and obligations of the Parties
as set out in this RCA; (iv) make decisions about cost-bearing or non-neutral lab resource changes or amendments of the Project Plan of
any Subproject, which decisions require an amendment of the Project Plan of the relevant Subproject by approval of the Parties, (v) amend
or further define the Compound Acceptance Criteria for any Subproject, or (vi) make decisions about the patent filing and publication
strategy, which decisions are the sole right of the Parties in accordance with this RCA.

 

    Page 19/47

     

    

 

		3.3	Voting. The JSC members nominated by BiondVax shall together have 1 (one) vote, and the JSC members
nominated by MPG/UMG shall together have 1 (one) vote. The JSC shall make its decisions unanimously. Decisions may be made in meetings,
or outside of meetings in writing through circular procedure if no JSC member objects to such circular procedure. In case of disagreement
between the JSC members nominated by BiondVax and the JSC members nominated by MPG/UMG on a certain topic, the matter shall be referred
to the Parties for resolution in accordance with the dispute resolution mechanism under this RCA; provided, however, that BiondVax will
have the final say regarding decisions that have an impact on the target product profile, and/or on the research funding to be provided
by BiondVax under this RCA, ensuring that any such veto decision does not interfere with MPG’s and UMG’s academic freedom
and ethical standards.

 

		3.4	Meetings. The JSC shall meet 4 (four) times per calendar year, unless otherwise agreed by the Parties.
Each JSC member may, in case of urgent matters, invite for an extra-ordinary JSC meeting. A JSC meeting may be held in person as well
as by phone, internet-based conference systems or videoconference. The venue of the meeting shall be at the premises of MPI-MS/UMG, unless
otherwise agreed on between the Parties. In case of unavailability, a Party shall nominate a member of his/her team, who is sufficiently
qualified and experienced in the field of the Collaboration Project, to attend the JSC meeting as a one-time replacement, provided that
this replacement person is bound to confidentiality and is sufficiently briefed before participation.

 

		3.5	Organization of Meetings and Minutes. The chair of the JSC shall organize the JSC meetings and
draft an agenda in due time in advance before the respective JSC meeting is scheduled, on the basis of topics proposed by JSC members.
Such agenda shall include timely updates on the work being performed in the course of the Collaboration Project in each Subproject according
to the Project Plan applicable to the relevant Subproject (as might be amended from time to time in accordance with this RCA). The chair
shall circulate the agenda and slides containing such updates, including all relevant data, at least 48 (forty-eight) hours before each
meeting of the JSC. The chair is also responsible to draft the minutes of the JSC meeting to be provided to the other JSC members within
1 (one) week after a JSC meeting has taken place, and the other JSC members may request changes or amendments to the draft minutes within
1 (one) week after receipt of the draft minutes. The draft minutes shall be supplemented by all presentations held at the meeting or other
relevant documentation presented during the meeting. The minutes shall include a summary of the matters discussed, decisions made and
actions/to-do’s agreed, and shall be considered final, once approved by the JSC, which approval shall be deemed to be given if no JSC
member objects to the draft minutes within 1 (one) week after receipt. If changes or amendments to the Project Plan for a Subproject are
approved by the JSC in accordance with this Section 3, such changed or amended Project Plan shall be signed by all members of the JSC,
and shall be attached to the respective meeting minutes. For the avoidance of doubt, the chair of the JSC may, in its reasonable discretion,
involve his/her personal assistant or secretary for the purpose of organizing and taking the minutes of JSC meetings.

 

 

4. COLLABORATION PERFORMANCE AND
DOCUMENTATION

 

		4.1	Performance of Work Packages. Each Party will perform its work packages in each Subproject in the
course of the Collaboration Project in accordance with the Project Plan applicable to the relevant Subproject (which might be amended
from time to time in accordance with this RCA) at its own responsibility using its resources. Each Party will use reasonable efforts to
provide deliverables in the timeframes proposed in the Project Plan applicable to the relevant Subproject (which might be amended from
time to time in accordance with this RCA). Each Party shall, in the performance of its obligations under this RCA, comply with all applicable
legal provisions, especially safety regulations and laws for the protection of animals.

 

    Page 20/47

     

    

 

		4.2	Subcontractors. A Party may, in its reasonable discretion, have some of its allocated work packages
performed by one or more Subcontractors (e.g. contract research organizations, service providers or collaboration partners), provided
that (i) none of the rights of the Parties under this RCA are adversely affected as a result of such subcontracting, (ii) any Subcontractor
to whom Confidential Information is disclosed shall be bound by confidentiality and restricted use obligations at least as restrictive
as those contained in this RCA, (iii) the subcontracting Party (or its Affiliates) shall use reasonable efforts to achieve that (aa) the
Subcontractor performs its respective services for the subcontracting Party (or its Affiliates) on a fee-for-service or substantially
similar basis, and (bb) the Subcontractor is obliged, fully paid-up by the service fee or similar, to assign, or exclusively license,
to the subcontracting Party (or its Affiliates), subject to customary retained rights for research purposes, any Patent Rights for inventions
generated by the Subcontractor in performing its services for the subcontracting Party (or its Affiliates). If the subcontracting Party
(or its Affiliates) is not able to achieve the requirements described in (iii), it shall first, before entering into any agreement with
the Subcontractor, inform the other Parties hereof, and the Parties shall discuss in good faith if and under what terms such Subcontractor
may be involved into the Collaboration Project. For clarity, any activity performed by Subcontractors shall, for the purpose of this RCA,
be considered to have been performed by the subcontracting Party.

 

		4.3	Documentation. The Parties will maintain appropriate documentation about their conduct of each
Subproject in the course of the Collaboration Project, and shall comply with all applicable laws, rules and regulations in this respect.
In particular, each Party shall ensure that on a Subproject-by-Subproject basis and relating to the generated Nanobodies, all data, results
and tasks to be performed or procured by or on behalf of such Party in conduct of its activities in the course of the Collaboration Project
are promptly documented in experimental lab-books in accordance with the applicable standards and in other form in order to ensure that
the information required for the Compound Acceptance Criteria applicable for the relevant Subproject, and for the relevant Subproject
Technology Compilation Document (including the “Tech File”) as specified in Appendix 2.10, can be compiled jointly
by the JSC members in due time, and, upon reasonable request of the other Parties, such documentation shall be provided by such Party
in due time.

 

		4.4	Communication. The Parties shall use reasonable efforts to execute their tasks defined in the Project
Plan applicable to the relevant Subproject (which might be amended from time to time in accordance with this RCA) within the timelines
as indicated in the Project Plan. In case of necessary deviations from the Project Plan (including delays, if any), the JSC shall promptly
inform the Parties accordingly, and provide suitable suggestions for solving these problems.

 

		4.5	Reporting. The project teams of the Parties shall work together in good faith in order to, on a
quarterly basis and on a Subproject-by-Subproject basis, provide to the JSC reports showing the research performed, the research results
obtained (if any), the research goals achieved (if any), the deliverables (foreseen in the Project Plan applicable for the relevant Subproject)
generated (if any), and any obstacles and roadblocks. The format and details of such research reports have to be agreed in good faith
between the Parties. In due time, but at the latest 60 (sixty) days after the completion or termination of any Subproject according to
Section 2.5, the JSC members shall jointly compile together (with assistance of the Parties’ project teams) and provide a final written
report to the Parties summarizing in reasonable and meaningful detail the work packages performed in such Subproject under the applicable
Project Plan and the results achieved (including a final version of the Subproject Technology Compilation Document for the Subproject
compiled together and updated in accordance with Section 2.10).

 

    Page 21/47

     

    

 

5. FINANCIAL FUNDING OF COLLABORATION
PROJECT AND PAYMENT TERMS

 

		5.1	Project Costs of BiondVax. During the Collaboration Project, BiondVax shall fully bear its own
project costs for the activities performed by or on behalf of BiondVax as outlined in the Project Plan, including costs of BiondVax’
Affiliates and Subcontractors.

 

		5.2	Funding of Project Costs of MPG and UMG. [***]

 

		5.3	Payment Procedure. [***]

 

		5.4	Value Added Tax. Any amounts mentioned under this RCA and to be paid by BiondVax to MPG/MPI-MS
are net and exclusive of any value added tax (VAT) or similar tax. If any such tax is imposed upon any payments to be made by BiondVax
to MPG/MPI-MS under this RCA, BiondVax shall pay such tax to MPG/MPI-MS in addition to the amount mentioned in this RCA, upon receipt
of a proper tax invoice from MPG/MPI-MS where any value added tax (VAT) amount is shown separately in accordance with the requirements
of applicable laws.

 

		5.5	Audit. BiondVax shall have the right to arrange for an audit of the books and records of MPG (MPI-MS,
Görlich Department), and MPG/MPI-MS shall have the right to arrange for an audit of the books and records of UMG (Dobbelstein Department),
by an independent certified public accounting firm for purposes of confirming the appropriateness of the spending of the research funding
provided by BiondVax for the Subprojects conducted in the course of the Collaboration Project. BiondVax acknowledges that certain resources
already existing at MPI-MS and/or UMG may also be used for the Collaboration Project, that the funding provided by BiondVax will be used
to expand the capacities of MPI-MS and UMG to allow the performance of the Collaboration Project, and that certain resources funded by
BiondVax under this RCA may also be used by MPI-MS and/or UMG outside of the Collaboration Project; provided, however, that the aforementioned
use of resources provided by MPG, by BiondVax and by Third Parties to MPI-MS will be in compliance with MPI-IS’ internal auditing rules.
Any audit may only be made once per calendar year during normal business hours and upon mutually agreed dates. Any breach of MPG/MPI-MS
or UMG in the relationship between MPG and UMG shall not give them a right to terminate this RCA. Any audit by BiondVax of MPG (MPI-MS,
Görlich Department), and any audit by MPG/MPI-MS of UMG (Dobbelstein Department) requested by BiondVax, shall be at BiondVax’
expense; any audit by MPG of UMG (Dobbelstein Department) conducted by MPG on its own decision (i.e. without request of BiondVax) shall
be at MPG’s expense. MPG (MPI-MS, Görlich Department) and UMG (Dobbelstein Department) are required to retain original invoices of
Subcontractors for a period of 2 (two) years after the termination or expiration of this RCA.

 

6. CONFIDENTIALITY

 

		6.1	Confidentiality Obligation. The Receiving Party shall treat confidential the Confidential Information
of the Disclosing Party during the Term and for 5 (five) years thereafter. In maintaining in confidence the Confidential Information of
the Disclosing Party, the Receiving Party shall use not less than the efforts it uses to maintain in confidence its own information of
a confidential and/or proprietary nature of similar kind and value; however, the Receiving Party shall in no event use less than reasonable
efforts. The Receiving Party may not disclose the Confidential Information of the Disclosing Party to any Third Party without the prior
written consent of the Disclosing Party, except for expressly permitted disclosures as set forth in Section 6.3 below. The Receiving Party
may not use the Confidential Information of the Disclosing Party for any purposes other than those necessary to directly further the purpose
of this RCA. For the avoidance of doubt, any Confidential Information pertaining or relating to the Target-specific Nanobody Know-how
or the Enabling Nanobody Know-how shall be solely and exclusively treated in accordance with the provisions of the relevant license agreement
from the date of its conclusion after exercise of the Option for the relevant Subproject in accordance with Section 9.

 

    Page 22/47

     

    

 

		6.2	Appropriate Measures. The Receiving Party shall take all appropriate steps, and shall implement
all appropriate safeguards, to prevent the unauthorized use or disclosure of any of the Disclosing Party’s Confidential Information.
The Receiving Party shall furnish the Disclosing Party with immediate written notice of any unauthorized use or disclosure of any of the
Disclosing Party’s Confidential Information and shall take all actions that the Disclosing Party reasonably requests in order to
prevent any further unauthorized use or disclosure of the Disclosing Party’s Confidential Information.

 

		6.3	Permitted Disclosures. The Receiving Party may disclose the Confidential Information of the Disclosing
Party:

 

		6.3.1	to its employees (including its members of the management or board) on a need-to-know basis, provided
that such individuals are bound by confidentiality obligations at least as restrictive as those set forth in this RCA;

 

		6.3.2	[***];

 

		6.3.3	to regulatory authorities in connection with filings for regulatory approval, provided that such disclosures
may be made only to the extent reasonably necessary to make such filings;

 

		6.3.4	to Affiliates and Subcontractors on a need-to-know basis, provided that such Affiliates and Subcontractors
are bound by confidentiality obligations at least as restrictive as those set forth in this RCA;

 

		6.3.5	to Third Party individuals with a professional obligation of secrecy (e.g. patent attorneys, attorneys-at-law,
certified public accountants);

 

		6.3.6	[***];

 

		6.3.7	if such disclosure is required by court order, order of competent authorities, law, rules or regulations
(including, without limitation, by rules or regulations of any securities exchange); in such case and prior to such disclosure, the obligated
Party promptly notifies the Disclosing Party of such requirement, and provided further that the obligated Receiving Party shall assist
the Disclosing Party in any objection against and attempt to limit the relevant disclosure order and that the obligated Receiving Party
will furnish only that portion of the Disclosing Party’s Confidential Information that Receiving Party’s legal counsel reasonably
determines is legally required to furnish.

 

		6.4	Terms of this RCA. The Parties acknowledge that the existence and all terms and conditions of this
RCA shall be treated as Confidential Information of the Parties. Notwithstanding the foregoing, BiondVax may disclose this RCA on a confidential
basis to its Affiliates and in accordance with Sections 6.3.5, 6.3.6 and 6.3.7, MPG may disclose this RCA on a confidential basis
to MPI-MS and to MI, and UMG may disclose this RCA on a confidential basis to Georg-August-Universität Göttingen Stiftung Öffentlichen
Rechts and to MBM.

 

    Page 23/47

     

    

 

		6.5	Return of Confidential Information. After the termination or expiration of this RCA, each Party
shall, upon request of the Disclosing Party, return or destroy all documents (including copies) of the Confidential Information received
from the Disclosing Party, except that each Party may retain 1 (one) copy for legal and archiving purposes. For the avoidance of doubt,
this return and destruction obligation shall not apply to BiondVax to the extent the documents (including copies thereof) contain information
which are pertaining or relating to the Target-specific Nanobody Technology or the Enabling Nanobody Technology licensed to BiondVax under
the relevant license agreement concluded after exercise of the Option for the relevant Subproject in accordance with Section 9 or
transferred or licensed to BiondVax upon BiondVax’s request in accordance with Section 2.5.5. Each Party shall not be required to
return or destroy any Confidential Information that is stored in any automatic electronic archiving or back-up system where it is not
reasonably practicable to retrieve and delete the same, provided that such information is kept confidential in accordance with the terms
of this RCA.

 

		6.6	Use of Names. Except as expressly set forth otherwise by this RCA or necessary for the conduct
of this RCA or the Collaboration Project (including any Subproject), respectively, no Party may use the other Party ́s name, trademark,
logo, or tradenames, or similar, in any press release or public announcement, or in promotion of any product or service, without prior
written consent of the respective other Party. Either Party does not need to obtain explicit prior approval for each individual use of
another Party’s name, trademark or logo if the Party uses the name, trademark or logo of such other Party substantially consistent with
the presentation and format and in similar context as previously approved by such other Party. However, the other Party may reasonably
object against such use for important reason and the relevant Parties shall discuss in good faith any amendment the using Party shall
make.

 

		6.7	Transparency. UMG intends to ensure transparency in the (clinical) research field. Therefore, UMG
will publish the following information of this RCA on its homepage in the internet: 1. University (=University Medical Center Göttingen),
2. Participating Department/Institute, 3. Name of Contractor, 4. Project Title, 5. Term of this RCA, and 6. Transfer of Values in
case of participation of UMG as trial site in clinical trials.

 

		6.8	Press Release. Subject to the prior written approval of the other Parties, not to be unreasonably
withheld or delayed, each Party may make public announcements with respect to the nature, the general subject matter and the general structure
of this RCA (including the terms of the potential license agreement as well as the number of intended Subprojects). Each Party shall provide
to the other Parties a copy of any such intended public announcement as soon as reasonably practicable under the circumstances, but not
less than 2 (two) weeks, prior to its scheduled release. The other Parties may review and request changes to any announcement, and the
Parties shall work together in good faith to come to a mutually acceptable version of such public announcement. Notwithstanding anything
to the contrary herein, if the Parties do not agree on a mutually acceptable version of such public announcement, no public announcement
may be made. However, MPG and UMG acknowledge that BiondVax as a company listed at the NASDAQ has to comply with certain publication,
information and transparency obligations under the applicable laws and nothing herein shall prevent BiondVax from making any public announcement
to the extent and at the time required under any publication, information or transparency obligation according to the applicable laws
(e.g. public company obligations under U.S. SEC Rules) and such public announcement shall not be regarded a breach of this Agreement,
even if BiondVax has not obtained explicit prior consent of MPG and/or UMG for such public announcements.

 

    Page 24/47

     

    

 

7. PUBLICATIONS

 

With respect to any item of Collaboration Know-how
pertaining or relating to the Target-specific Nanobody Know-how or the Enabling Nanobody Know-how which are licensed under the relevant
license agreement concluded after exercise of the Option for the relevant Subproject in accordance with Section 9, the provisions
relating to intended publications and presentations of such license agreement shall be solely and exclusively apply from the date of its
conclusion. For all other items of Collaboration Know-how and after expiration or termination of the relevant license agreement also with
respect to items of Collaboration Know-how previously licensed under such license agreement, the following shall apply:

 

		7.1	Intended Publication. The Parties recognize that (i) MPG and/or UMG, as applicable, have a significant
scientific interest in publishing the Sole MPG/UMG Collaboration Know-how and/or the Joint Collaboration Know-how, and (ii) BiondVax has
a significant business interest in maintaining the confidentiality of the Sole MPG/UMG Collaboration Know-how and the Joint Collaboration
Know-how as well its own Sole BiondVax Collaboration Know-how. In order to reasonably balance such interests, MPG and UMG acknowledge
that it requires BiondVax’s prior review of publications that MPG (through the MPI-MS) and/or UMG, as applicable, intend to make
that would include the Sole MPG/UMG Collaboration Know-how and/or the Joint Collaboration Know-how, and BiondVax acknowledges that it
may delay only for good cause. MPG (through the MPI-MS) and/or UMG, as applicable, shall therefore make available to BiondVax a copy of
any intended abstract, manuscript or presentation that would include any Sole MPG/UMG Collaboration Know-how and/or Joint Collaboration
Know-how (the “Intended Publication”) no less than 12 (twelve) days prior to the intended submission of the manuscript
or other draft of its Intended Publication to the relevant Third Party (e.g. editorial board or conference organizer).

 

		7.2	Review. BiondVax shall have 10 (ten) days from its receipt of the Intended Publication to notify
MPG (through the MPI-MS) and/or UMG, as applicable, in writing of any specific reasonable objections to the disclosure. In the event BiondVax
makes such reasonable objections, MPG (through the MPI-MS) and/or UMG, as applicable, agrees to not submit and publish the Intended Publication,
or to not submit and make the presentation containing the objected-to information, as applicable, for additional 30 (thirty) days from
its receipt of BiondVax’s notice. During such 30-day-period, the Parties will agree in good faith on reasonable redactions and/or revisions
to the Intended Publication to satisfy BiondVax’s reasonable concerns. Specifically, if the Intended Publication (i) would result
in the disclosure of Confidential Information of BiondVax (including any item of Sole BiondVax Collaboration Know-how or any item of Know-how
included in Background Technology BiondVax or Sideground Technology BiondVax), upon request of BiondVax, MPG (through the MPI-MS) and/or
UMG, as applicable, shall modify the Intended Publication to avoid such disclosure, but the Parties shall use reasonable efforts to provide
scientifically meaningful equivalent information in such Intended Publication, or (ii) would jeopardize the patentability of any inventions
that may lead to Collaboration Patent Rights, upon request of BiondVax, MPG (through the MPI-MS) and/or UMG, as applicable, shall delay
the Intended Publication for a period of 60 (sixty) instead of 30 (thirty) days, in order to allow BiondVax (and/or MPG and/or UMG, as
applicable) to file a patent application.

 

		7.3	Revised Intended Publication. MPG (through the MPI-MS) and/or UMG, as applicable, shall delete
from the originally proposed Intended Publication any Confidential Information of BiondVax (including any item of Sole BiondVax Collaboration
Know-how or any item of Know-how included in Background Technology BiondVax or Sideground Technology BiondVax), and any other reasonably
objected-to information, and shall provide to BiondVax such revised Intended Publication in due time after the applicable delay periods
as set forth in Section 7.2 for final review. BiondVax shall inform MPG (through the MPI-MS) and/or UMG, as applicable, in writing within
10 (ten) days after receipt of such revised Intended Publication whether or not BiondVax has further objections. If BiondVax does not
object within such time period, MPG (through the MPI-MS) and/or UMG, as applicable, may submit such revised Intended Publication for publication,
or present such revised Intended Publication. If BiondVax objects within such time period, BiondVax shall inform MPG (through the MPI-MS)
and/or UMG, as applicable, in its objection notice of the good cause-reasons for objecting, and BiondVax and MPG (through the MPI-MS)
and/or UMG, as applicable, shall discuss in good faith, within 10 (ten) days after such further objection notice, reasonable and meaningful
redactions and/or revisions to the revised Intended Publication. MPG (through the MPI-MS) and/or UMG, as applicable, shall take into due
consideration the redactions and/or revisions reasonably proposed by BiondVax. After such 10-day-period, MPG (through the MPI-MS) and/or
UMG, as applicable, may submit and publish the revised Intended Publication (as further redacted or revised in MPI-MS’s and/or UMG’s,
as applicable, reasonable discretion), provided that any Confidential Information of BiondVax (including any item of Sole BiondVax Collaboration
Know-how or any item of Know-how included in Background Technology BiondVax or Sideground Technology BiondVax) is deleted from the submitted
Intended Publication.

 

    Page 25/47

     

    

 

		7.4	Intended Publication by BiondVax. If BiondVax has a reasonable interest in publishing the Sole
MPG/UMG Collaboration Know-how and/or the Joint Collaboration Know-how, BiondVax shall inform the Görlich Department and the Dobbelstein
Department of such intent in due time. Sections 7.1 through 7.3 shall apply accordingly.

 

8. INTELLECTUAL PROPERTY RIGHTS AND
COMMERCIAL EXPLOITATION

 

		8.1	Background Technology. 

 

		8.1.1	Ownership of Background Technology. MPG and/or UMG, as applicable, is/are, and shall remain, the
sole/joint owner of all right, title and interest in and to the Background Technology MPG/UMG, and BiondVax agrees that, except as explicitly
set forth in this RCA (especially with respect to BiondVax’s Option covering any item of Background Technology MPG/UMG which is qualified
mutually by the Parties in good faith as Enabling Nanobody Technology according to the criteria set forth in the respective definition),
nothing contained in this RCA shall provide to BiondVax any right, title or interest in or to the Background Technology MPG/UMG. BiondVax
is, and shall remain, the sole owner of all right, title and interest in and to the Background Technology BiondVax, and MPG and UMG agree
that, except as explicitly set forth in this RCA, nothing contained in this RCA shall provide to MPG and UMG any right, title or interest
in or to the Background Technology BiondVax.

 

		8.1.2	Patenting of Background Technology. The Party/Parties owning the Background Technology shall be
and remain solely entitled, in its/their sole discretion and on its/their own cost and expense, to file applications for Patent Rights
for any inventions within its/their Background Technology, and to prosecute, maintain, abandon, defend and enforce such Patent Rights
within the Background Technology. Upon and to the extent Background Technology MPG/UMG has been mutually qualified as Enabling Nanobody
Technology in accordance with Section 2.10.2, MPG and UMG will inform BiondVax about any applications for Patent Rights within such Background
Technology MPG/UMG. As a general rule, MPG and UMG will, to the extent reasonably practicable, file, prosecute and maintain the Patent
Rights within such Background Technology MPG/UMG in the following countries: (i) United States of America, (ii) Japan, and (iii) Europe
(with Italy, Spain, France, Germany and the United Kingdom). In case MPG and/or UMG decide (together or each of them separately) to abandon
any Patent Rights within the Background Technology MPG/UMG that has been mutually qualified by the Parties as Enabling Nanobody Technology
related to a Subproject, BiondVax shall, except for the case that MPG and/or UMG does not intend to validate a granted European patent
for any country other than the countries mentioned before under (iii), be notified thereof in writing in a timely manner, and shall have
the right to further prosecute, maintain and abandon such Patent Rights in such countries within the Background Technology MPG/UMG during
the term of the relevant Subproject. If BiondVax exercises its Option for the relevant Subproject for which such Patent Rights of Background
Technology MPG/UMG has been mutually qualified as Enabling Nanobody Technology, also such Patent Rights in countries for which BiondVax
has assumed responsibility and patent costs shall become part of the respective Enabling Nanobody Technology of the respective license
agreement.

 

    Page 26/47

     

    

 

		8.1.3	Mutual Project Licenses for Collaboration Project. During the Term, MPG and UMG herewith grant
to BiondVax a non-exclusive, royalty-free, fully paid-up license under the Background Technology MPG/UMG for the purpose to perform BiondVax’s
respective work packages under the Collaboration Project as set forth in the Project Plans applicable for the Subprojects. During the
Term, BiondVax herewith grants to MPG and UMG a non-exclusive, royalty-free, fully paid-up license under the Background Technology BiondVax
for the purpose of performing MPG’s/UMG’s respective work packages under the Collaboration Project as set forth in the Project Plans applicable
for the Subprojects.

 

		8.1.4	Option Exercise, Licensing. Upon and to the extent BiondVax exercises the Option for any Background
Technology MPG/UMG, which is, upon such Option exercise, still qualified mutually by the Parties as Enabling Nanobody Technology in accordance
with Section 2.10.2, it shall be included into the relevant license agreement, and the pre-agreed financial terms contained in the Sample
License Agreement shall apply.

 

		8.2	Sideground Technology

 

		8.2.1	Ownership of Sideground Technology. MPG and/or UMG, as applicable, is/are, and shall remain, the
sole/joint owner of all right, title and interest in and to the Sideground Technology MPG/UMG, and BiondVax agrees that, except as explicitly
set forth in this RCA (especially with respect to BiondVax’s Option covering any item of Sideground Technology MPG/UMG which is qualified
mutually by the Parties as Enabling Nanobody Technology according to the criteria set forth in the respective definition), nothing contained
in this RCA shall provide to BiondVax any right, title or interest in or to the Sideground Technology MPG/UMG.

BiondVax is, and shall remain, the
sole owner of all right, title and interest in and to the Sideground Technology BiondVax, and MPG and UMG agree that, except as explicitly
set forth in this RCA, nothing contained in this RCA shall provide to MPG and UMG any right, title or interest in or to the Sideground
Technology BiondVax.

 

		8.2.2	Patenting of Sideground Technology. The Party/Parties owning the Sideground Technology shall be
and remain solely entitled, in its/their sole discretion and on its/their own cost and expense, to file applications for Patent Rights
for any inventions within its/their Sideground Technology, and to prosecute, maintain, abandon, defend and enforce such Patent Rights
within the Sideground Technology. Upon and to the extent Sideground Technology MPG/UMG has been introduced to the Collaboration Project
in accordance with the provisions in Section 2.10.3 and has been mutually qualified as Enabling Nanobody Technology in accordance with
Section 2.10.3, MPG and UMG will inform BiondVax about any applications for Patent Rights within the Sideground Technology MPG/UMG. As
a general rule, MPG and MPG will, to the extent reasonably practicable, file, prosecute and maintain the Patent Rights within such Sideground
Technology MPG/UMG in the following countries: (i) United States of America, (ii) Japan, and (iii) Europe (with Italy, Spain, France,
Germany and the United Kingdom). In case MPG and/or UMG decide (together or each of them separately) to abandon any Patent Rights within
the Sideground Technology MPG/UMG that has been introduced to the Collaboration Project in accordance with the provisions in Section 2.10.3
and has been mutually qualified by the Parties as Enabling Nanobody Technology related to a Subproject, BiondVax shall, except for the
case that MPG and/or UMG does not intend to validate a granted European patent for any country other than the countries mentioned before
under (iii), be notified thereof in writing in a timely manner, and shall have the right to further prosecute, maintain and abandon such
Patent Rights in such countries within the Sideground Technology MPG/UMG during the term of the relevant Subproject. If BiondVax exercises
its Option for the relevant Subproject for which such Patent Right of Sideground Technology MPG/UMG has been mutually qualified as Enabling
Nanobody Technology, also such Patent Rights in countries for which BiondVax has assumed responsibility and patent costs shall become
part of the respective Enabling Nanobody Technology of the respective license agreement.

 

    Page 27/47

     

    

 

		8.2.3	Mutual Project Licenses for Collaboration Project. During the Term, MPG and UMG herewith grant
to BiondVax a non-exclusive, royalty-free, fully paid-up license under the Sideground Technology MPG/UMG, which is introduced to the Collaboration
Project in accordance with Section 2.10.3, for the purpose of performing BiondVax’s respective work packages under the Collaboration
Project as set forth in the Project Plans applicable for the Subprojects. During the Term, BiondVax herewith grants to MPG and UMG a non-exclusive,
royalty-free, fully paid-up license under the Background Technology BiondVax for the purpose to perform MPG’s/UMG’s respective work packages
under the Collaboration Project as set forth in the Project Plans applicable for the Subprojects.

 

		8.2.4	Option Exercise, Licensing. Upon and to the extent BiondVax exercises the Option for any Sideground
Technology MPG/UMG, which has been introduced to the Collaboration Project in accordance with the provisions in Section 2.10.3 and is,
upon such Option exercise, still qualified mutually by the Parties acting in good faith as Enabling Nanobody Technology according to the
criteria set forth in the respective definition of this term, it shall be included into the relevant license agreement, and the financial
terms pre-agreed mutually between the Parties for inclusion of the relevant Sideground Technology MPG/UMG into the license before introduction
of the relevant Sideground Technology MPG/UMG in accordance with the provisions in Section 2.10.3 shall apply.

 

		8.3	Collaboration Technology. 

 

		8.3.1	Ownership of Collaboration Technology. Ownership of Collaboration Technology shall be determined
in accordance with the “ownership follows inventorship” rule. MPG and/or UMG, as applicable, shall own any Sole MPG/UMG Collaboration
Technology. The Parties shall jointly own any Joint Collaboration Technology in accordance with their respective inventorship or intellectual
contribution shares. BiondVax shall solely own any Sole BiondVax Collaboration Technology. In case a Party has / the Parties have generated
Collaboration Know-how, or patentable inventions that may lead to Collaboration Patent Rights, such Party / Parties shall promptly disclose
to the other Party / Parties in writing such Collaboration Know-how or inventions to determine inventorship thereof. The inventorship
shall be determined in accordance with German patent law. For any invention within Joint Collaboration Technology the Parties shall facilitate
the agreement of the inventors on their relevant co-inventor share; if neither the relevant inventors nor the relevant Parties can agree
on the co-inventor shares, they shall be final and legally binding determined by a reputable patent attorney jointly appointed by the
Parties in good faith.

 

    Page 28/47

     

    

 

		8.3.2	Claim and Remuneration of Employee Inventions. Each Party has to ensure that, to the extent legally
possible, its employees, Subcontractors and Affiliates will assign any and all rights in and to the Collaboration Technology to such Party.
Each Party will comply with all applicable procedures relating to such assignments mandated by applicable law (including, by way of example,
the German Employees’ Invention Act (Arbeitnehmererfindungsgesetz – ArbErfG, as amended)). Each Party will be
solely responsible for the remuneration of its employees with regard to any inventions made under this RCA.

 

		8.3.3	Non-employed Participants. Each Party has to ensure that each person who performs work for, or
is otherwise directly involved in, the Collaboration Project, is either an employee of such Party, or, if it is not an employee (a “Non-employed
Participant”)

 

		(a)	follows such Party’s policies and procedures for reporting any Intellectual Property Rights generated
in the course of the Collaboration Project (collectively, the “Non-employed Participant IP”);

 

		(b)	to the extent legally possible, assigns to such Party the Non-employed Participant’s right, title,
and interest in and to all Non-employed Participant IP, in accordance with such Party’s policies and procedures;

 

		(c)	cooperates with such Party in the preparation, filing, prosecution and maintenance of any Patent Right
or other rights in the Non-employed Participant IP; and

 

		(d)	is bound by obligations of confidentiality and non-use no less restrictive than those set out in this
RCA.

 

Each Party shall be solely responsible
for any inventor’s remuneration due to Non-employed Participants involved by such Party in the performance of the Collaboration Project.

 

		8.3.4	Mutual Project Licenses for Collaboration Project. During the Term, MPG and UMG herewith grant
to BiondVax a non-exclusive, royalty-free, fully paid-up license under the Sole MPG/UMG Collaboration Technology and its share in the
Joint Collaboration Technology for the purpose of performing BiondVax’s respective work packages under the Collaboration Project as set
forth in the Project Plans applicable for the Subprojects. During the Term, BiondVax herewith grants to MPG and UMG a non-exclusive, royalty-free,
fully paid-up license under the Sole BiondVax Collaboration Technology and its share in the Joint Collaboration Technology for the purpose
to perform MPG’s/UMG’s respective work packages under the Collaboration Project as set forth in the Project Plans applicable for the Subprojects.

 

		8.3.5	Option Exercise, Licensing. Upon and to the extent BiondVax exercises the Option for any Sole MPG/UMG
Collaboration Technology or any Joint Collaboration Technology, which is, upon such Option exercise, still qualified mutually by the Parties
as Target-specific Nanobody Technology or as Enabling Nanobody Technology in accordance with Section 2.10.1, it shall be included into
the relevant license agreement, and the pre-agreed financial terms contained in the Sample License Agreement shall apply.

 

		8.3.6	Use and Exploitation of Sole MPG/UMG Collaboration Technology by MPG and UMG. During the Term and
until BiondVax has exercised its Option, MPG and/or UMG must not grant any rights to the benefit of any Third Party with regard to any
Sole MPG/UMG Collaboration Technology, which would adversely affect the use of such Sole MPG/UMG Collaboration Technology in the course
of the Collaboration Project, or the license of such Sole MPG/UMG Collaboration Technology that qualifies as Target-specific Nanobody
Technology or as Enabling Nanobody Technology to BiondVax upon exercise of the Option for a relevant Subproject.

 

    Page 29/47

     

    

 

		8.3.7	Use and Exploitation of Joint Collaboration Technology. During the Term and until BiondVax has
exercised its Option:

 

		(a)	the relevant Parties shall be entitled to use the relevant item of Joint Collaboration Technology solely
for internal research purposes;

 

		(b)	none of the relevant Parties may (i) sell or assign its share in the relevant item of Joint Collaboration
Technology to any Third Party, or (ii) grant any licenses under the relevant item of Joint Collaboration Technology to any Third Party;
and

 

		(c)	each relevant Party is entitled to grant licenses to its Affiliates and to transfer its share in any invention
of the Joint Collaboration Technology or Joint Collaboration Patent Right to any of its Affiliates, provided that such Affiliate is bound
on the same terms as set forth herein.

 

Without prejudice to either Party’s
right to request the assignment of the other Party/Parties share in any Target-specific Nanobody Technology and grant of a license with
respect to the other Party/Parties share in Enabling Nanobody Technology with respect to a relevant Subproject as set forth in this RCA
for specific scenarios, the Parties having a co-ownership share in any Joint Collaboration Technology may enter into an assignment agreement
with respect to the co-ownership share(s) to 1 (one) Party, in return for a fair and reasonable participation of the assignor Party/Parties
in future licensing revenues received by the assignee Party from the commercialization of such Joint Collaboration Technology.

 

		8.3.8	Retained Use Rights for MPG/UMG. Without prejudice to the exclusivity granted to BiondVax according
to Section 2.7, each of MPG (including, without limitation, MPI-MS) and UMG retain the cost-free right to use the Collaboration Technology
(i) for internal scientific research, teaching, education and publication purposes (subject to compliance with the confidentiality and
publication provisions of this RCA), (ii) for scientific research collaboration purposes with academic Third Parties (subject to compliance
with the confidentiality provisions of this Agreement); provided that in case of an intended research collaboration with a non-for-profit
organization aiming to develop and manufacture a medicinal product in the field of any Target within the Target List (as might be amended
in accordance with this RCA), BiondVax has not objected to such research collaboration for good reason within 1 (one) month after receipt
of a notice from MPG or UMG, as applicable, and (iii) for patient care within the facilities of UMG (subject to compliance with the confidentiality
provisions of this Agreement). If BiondVax has notified MPG and UMG that a Collaboration Compound has successfully passed the Nomination
Of Pre-clinical Development Candidate, including up to 2 (two) Collaboration Compounds nominated as pre-clinical development back-up candidates,
the use rights of MPG and UMG in accordance with (i) shall remain unaffected, and MPG and UMG (as applicable) shall, prior to any use
of such Collaboration Compounds in accordance with (ii), discuss with BiondVax in good faith reasonable limitations, e.g. discussion of
results related to such Compounds before disclosure to academic Third Parties and/or blinding of the structure of such nominated compounds
(to the extent such structures are not already publicly available, e.g. through the public disclosure of Collaboration Patent Rights,
or in accordance with the publication provisions of this RCA) towards academic Third Parties. For the avoidance of doubt, any retained
rights for MPG and/or UMG with respect to Collaboration Technology licensed to BiondVax under the relevant license agreement concluded
after exercise of the Option for the relevant Subproject by BiondVax in accordance with Section 9 shall be solely and exclusively
granted according to the respective provisions in such license agreement.

 

    Page 30/47

     

    

 

		8.4	Patenting of Collaboration Patent Rights.

 

		8.4.1	General. The Parties shall agree in good faith on an appropriate patent strategy for the Collaboration
Patent Rights; as a general rule, if reasonably practicable, the Parties shall separate the patent proceedings for Collaboration Patent
Rights that qualify as Target-specific Nanobody Patent Rights and that qualify as Enabling Nanobody Patent Rights, by filing separate
priority applications. The Parties shall inform each other without undue delay upon receipt of the respective notice from their inventors
of any invention made in the course of this RCA within the Collaboration Technology, if reasonably practicable by providing a Complete
Invention Disclosure. For the purpose of this RCA the term “Complete Invention Disclosure” shall mean a description of
the invention which shall include (i) the names of the inventors and, if applicable, the inventive contribution shares of the Parties
to the invention, (ii) the identification of new features that may be patentable, and (iii) a reasonably detailed description of experiments
made and of materials and methods used in connection with the generation of the invention. All applications for Collaboration Patent Rights
shall be filed in the name and on behalf of the Party/ Parties who own the underlying invention. The Parties will consider and discuss
in good faith whether such notified invention fulfills the requirements of a patentable invention, and whether and where and when an application
for a Collaboration Patent Right shall be filed. To the extent Joint Collaboration Patent Rights are mutually qualified as Target-specific
Nanobody Technology, BiondVax shall have the final say. In all other cases of Collaboration Patent Rights, MPG and UMG shall not unreasonably
withhold their timely consent to a reasonable proposal of BiondVax after its discussion in good faith, if such proposal by BiondVax is
reasonable in order to preserve MPG’s and UMG’s interests, and BiondVax’s commercial interests in the envisaged product development and
commercialization under the license agreement to be concluded after BiondVax has exercised the Option. In the case the Parties have decided
to apply for Collaboration Patent Rights for a notified invention, a priority patent application shall be filed at the European Patent
Office, unless the Parties agree on a different patent office. Unless the Parties agree on a different patent strategy, in due time prior
to the expiration of the priority year, a PCT-filing at the European Patent Office shall be made in the name of all relevant Parties designating
all PCT member states using the priority of the priority European patent application, and the Parties shall further discuss in good faith
on the patent strategy and subsequent patent applications arising from the PCT-filing. In light of BiondVax’s Option and of BiondVax’s
payment of respective patent costs, BiondVax is entitled to request that applications for Collaboration Patent Rights are filed in specific
jurisdictions.

 

		8.4.2	Patent Drafting, Filing, Prosecution and Defense. BiondVax shall be primarily responsible, in close
coordination with the Party/Parties owning the underlying invention, to prepare and draft patent applications for inventions within the
Collaboration Patent Rights. Such applications for Collaboration Patent Rights will be filed and prosecuted, and granted Collaboration
Patent Rights will be maintained and defended, through an external reputable patent attorney firm who will be mutually agreed upon by
BiondVax and the Party/Parties owning the underlying invention, and will be retained and paid solely by BiondVax. To the extent Joint
Collaboration Patent Rights are mutually qualified as Target-specific Nanobody Technology, if the Parties cannot agree in good faith discussions
on such external reputable patent attorney firm within a reasonable time, BiondVax shall choose and retain the external reputable patent
law firm in its reasonable discretion. In all other cases of Collaboration Patent Rights, MPG and UMG shall not unreasonably withhold
their timely consent to a reasonable proposal of BiondVax after its discussion in good faith, if such proposal by BiondVax is reasonable
in order to preserve MPG’s and UMG’s interests, and BiondVax’s commercial interests in the envisaged product development and commercialization
under the license agreement to be concluded after BiondVax has exercised the Option. BiondVax shall procure that such external patent
attorney firm provides the other Party/Parties in due time with copies of all material correspondence with the patent offices in relation
with the preparation, filing, prosecution, maintenance and defense of any Collaboration Patent Right. BiondVax shall bear all costs arising
from the preparing, drafting, filing, prosecution, maintenance and defense of any Collaboration Patent Right, regardless of whether such
Collaboration Patent Rights comprise Sole MPG/UMG Collaboration Patent Rights or Joint Collaboration Patent Rights or Sole BiondVax Collaboration
Patent Rights. In the event that any Collaboration Patent Right would cover or would disclose any Collaboration Know-how or Know-how within
the Background Technology or Know-how within the Sideground Technology, prior written approval of the Party Controlling such Collaboration
Know-how or Know-how within the Background Technology or Know-how within the Sideground Technology is required for filing such Collaboration
Patent Right, such approval not to be unreasonably withheld by the respective Party.

 

    Page 31/47

     

    

 

		8.4.3	Cooperation. MPG and UMG on the one side, and BiondVax on the other side, will consult and cooperate
with each other in the process of the preparation, drafting, prosecution, maintenance and defending of Collaboration Patent Rights, including
without limitation, through the following:

 

		(d)	Providing to the other Party a Complete Invention Disclosure without undue delay after it has received
an appropriate invention disclosure from its inventors;

 

		(e)	Claiming or undertaking within the timelines any act required under applicable laws which is necessary
to acquire complete right and interest in any invention, and executing all papers and instruments, or requiring its employees or agents,
to execute such papers and instruments, so as to effectuate the ownership of the Collaboration Patent Rights, and to enable the filing
and prosecution of applications for Collaboration Patent Rights in any country;

 

		(f)	Providing copies of any applications and papers filed in connection with any Collaboration Patent Right;

 

		(g)	Promptly informing each other of any matters coming to their attention that may adversely affect the preparation,
filing, prosecution or maintenance of any Collaboration Patent Right, including office actions which seem to make a grant of the claims
covering other Party’s interests unlikely;

 

		(h)	Providing any and all information to aid the drafting of Collaboration Patent Right applications, the
prosecution of such Collaboration Patent Right applications to patent grant and the defense of granted Collaboration Patent Rights;

 

		(i)	Completion, as necessary, of the inventorship documentation;

 

		(j)	Discussing and cooperating, as far as possible, on the obtaining of patent term extensions in all possible
jurisdictions;

 

		(k)	Promptly informing the other Parties of any Third Party rights which may adversely affect the use of any
Collaboration Patent Right.

 

		8.4.4	Duty to Offer and Transfer Collaboration Patent Rights. In the event that during the Term either
Party decides to not file, or to abandon, any Collaboration Patent Right owned or co-owned by such Party, this Party shall promptly inform
the other Party/Parties in writing thereof, and shall, upon written request of such other Party/Parties to be delivered within sixty (60)
days of receipt of such notice from such other Party/Parties, assign and transfer all of its rights and title in and to such Collaboration
Patent Right) to the Party/Parties requesting the transfer. If BiondVax notifies MPG and UMG according to the foregoing sentence, BiondVax
shall also transfer the prosecution to MPG and/or UMG, as applicable, if any of them requests the assignment of BiondVax’s ownership share
in such Collaboration Patent Right, and upon such transfer, BiondVax’s obligation to bear the patent costs shall end. The assignor Party
shall assist the assignee Party/Parties in the record of such assignment in the patent registers, including without limitation, shall
execute all necessary documents to record the assignment at the patent offices. The assignor Party shall provide the assignee Party/Parties
with all documents relating to the invention subject matter of the assigned Collaboration Patent Right, unless such assignee Party is
not already in possession of such documents. The assignee Party/Parties shall bear all costs and expenses of the record of such assignment
and shall solely bear all future patent costs becoming due and payable after such assignment.

 

    Page 32/47

     

    

 

		8.4.5	Enforcement of Collaboration Patent Rights. The Parties shall inform each other immediately and
in reasonable detail about any infringement or reasonably expected infringement of a Collaboration Patent Right they become aware of.
The Parties shall immediately consult and discuss in good faith the actions to be taken against the infringer. The Party/Parties solely
owning the relevant infringed Collaboration Patent Right shall have the final say if an infringement action shall be initiated on its/their
sole costs and expenses, while all monetary awards or settlement payments will be to the sole benefit of such Party/Parties; if MPG and/or
UMG are the Party/Parties solely owning the relevant infringed Collaboration Patent Right and do not intend to initiate an infringement
action, BiondVax may request to initiate such infringement action on its sole costs and expenses, subject to the approval of MPG and/or
UMG (as applicable) which shall not be unreasonably withheld. In case of Joint Collaboration Patent Rights, the Parties shall discuss
and agree in good faith on a joint strategy, the allocation of responsibilities, the bearing of costs, settlements, and the allocation
and distribution of damages; after such agreement is reached, BiondVax may initiate an infringement action. In case of Joint Collaboration
Patent Rights that are mutually qualified as Target-specific Nanobody Patent Rights, BiondVax shall have the final say if an infringement
action shall be initiated on its sole costs and expenses.

 

		8.5	Prevailing of Provisions of License Agreement. Provided that any item of Background Technology
MPG/UMG, Sideground Technology MPG/UMG, Sole MPG/UMG Collaboration Technology or Joint Collaboration Technology fulfils the applicable
criteria of Target-specific Nanobody Technology or Enabling Nanobody Technology according to the criteria set forth in the respective
definition, and is licensed to BiondVax under a license agreement concluded after BiondVax has exercised the Option for the relevant
Subproject in accordance with Section 9, the relevant provisions regarding use rights, patenting, filing, prosecution, maintenance,
abandonment, defense and enforcement in the relevant license agreement shall solely and exclusively govern such licensed items of Background
Technology MPG/UMG, Sideground Technology MPG/UMG, Sole MPG/UMG Collaboration Technology and Joint Collaboration Technology during the
term of the relevant license agreement.

 

9. EXCLUSIVE OPTION FOR
BIONDVAX

 

		9.1	Option Grant. MPG and UMG hereby grant to BiondVax on a Subproject-by-Subproject basis the exclusive
option to take a royalty-bearing, worldwide, sublicensable, transferable license, which shall be (i) exclusive under all right, title
and share in the respective Target-specific Nanobody Technology Controlled by MPG and/or UMG at the time of option exercise, and (ii)
non-exclusive, but exclusive with respect to the relevant Target pursued in the relevant Subproject, under all right, title and share
in the respective Enabling Nanobody Technology Controlled by MPG and/or UMG at the time of option exercise (the “Option”).

 

    Page 33/47

     

    

 

		9.2	Option Exercise. BiondVax may, in its sole discretion, exercise the Option on a Subproject-by-Subproject
basis for the relevant Background Technology MPG/UMG, the relevant Sideground Technology MPG/UMG, the relevant Sole MPG/UMG Collaboration
Technology and the relevant Joint Collaboration Technology Controlled by MPG and/or UMG, each to the extent mutually qualified as Target-specific
Nanobody Technology or Enabling Nanobody Technology at the time of Option exercise. BiondVax shall exercise the Option by written notice
to MPG and UMG at any time during the conduct of a relevant Subproject until the expiry of the 6th (sixth) month following
the completion of the relevant Subproject according to Section 2.5.1 (i.e. decision of the JSC that the Compound Acceptance Criteria
for the relevant Subproject have been achieved; for clarity, BiondVax may exercise its Option for a Subproject prior to achieving the
Compound Acceptance Criteria applicable for the relevant Subproject). In the case of termination of a Subproject according to Section 2.5.2.4,
BiondVax shall remain entitled to exercise the Option within 6 (six) months of receipt by BiondVax of (i) the final version of the relevant
Subproject Technology Compilation Document (including the “Tech File”) to be compiled together for such Subproject according
to Section 2.10, (ii) the final report to be compiled together according to Section 4.5, and (iii) the information to be provided
as deliverable according to the Project Plan (as might be amended for the relevant Subproject) to the extent generated and/or available
at the time of expiry or termination of this RCA.

 

		9.3	Consequences of Option Exercise. Upon exercise of the Option by BiondVax in accordance with Section 9.2,
MPG and UMG on the one side, and BiondVax on the other side, shall conclude a license agreement with the content and format as the Sample
License Agreement attached as Appendix 1.40 for (and only adapted to specifics of) the relevant Subproject within sixty (60)
days starting from the receipt by MPG and UMG of the Option exercise notice. The Parties agree and acknowledge that, in accordance with
the qualifications pursuant to Section 2.10, the relevant Background Technology MPG/UMG, the relevant Sideground Technology MPG/UMG, which
has been introduced to the Collaboration Project in accordance with the provisions in Section 2.10.3, the relevant Sole MPG/UMG Collaboration
Technology and the relevant Joint Collaboration Technology Controlled by MPG and/or UMG, each to the extent mutually qualified by the
Parties in good faith as Target-specific Nanobody Technology or Enabling Nanobody Technology at the time of Option exercise for the relevant
Subproject, shall be defined with more particularity in said license agreement based on the respective Subproject Technology Compilation
Document compiled together for the relevant Subproject in accordance with Section 2.10. In order to enable the preparation of the
execution version of said license agreement for the relevant Subproject, MPG and/or UMG shall provide BiondVax with draft schedules/appendixes
to said license agreement for identification of the relevant licensed Target-specific Nanobody Technology or Enabling Nanobody Technology
for the relevant Subproject within forty-five (45) days after receipt of the Option exercise notice. For the avoidance of doubt, the pre-agreed
financial terms and conditions contained in the Sample License Agreement attached Appendix 1.40 shall apply to all Subprojects
for which BiondVax exercises the Option in accordance with Section 9.2, and irrespective of the point in time BiondVax exercises
the Option in accordance with Section 9.2. Notwithstanding the foregoing, in the event that BiondVax has exercised the Option for
Sideground Technology MPG/UMG, which has been introduced to the Collaboration Project in accordance with the provisions in Section 2.10.3
and has, in accordance with Section 2.10.3, been mutually qualified as Enabling Nanobody Technology, any such Sideground Technology MPG/UMG
may only be included as Enabling Nanobody Technology into the relevant license agreement subject to the financial terms pre-agreed by
the Parties in good faith before introduction of such Sideground Technology MPG/UMG as set forth in Section 2.10.3.

 

If BiondVax has exercised its Option
for a Subproject before the Compound Acceptance Criteria applicable for the relevant Subproject have been achieved, BiondVax is, during
the Term of this RCA, entitled to request from MPG and/or UMG follow-up research activities with respect to generation, initial validation
and characterization of Nanobodies against the relevant Target under this RCA, to the extent such research activities would be reasonably
required to achieve the Compound Acceptance Criteria applicable for the relevant Subproject, considering the scientific and technical
capabilities and resources of the Görlich Department and/or the Dobbelstein Department, without additional funding for such follow-up
research activities. Upon such request of BiondVax, BiondVax is not entitled to request a refill for such Subproject, although it would
formally be regarded as terminated.

 

    Page 34/47

     

    

 

If BiondVax has exercised its Option
for a Subproject after the Compound Acceptance Criteria have been achieved, BiondVax may request, in addition to the license agreement,
the conclusion of an accompanying research collaboration agreement for specific follow-up research activities to be conducted by the Görlich
Department and/or the Dobbelstein Department with respect to generation, initial validation and characterization of Nanobodies against
the relevant Target. Such agreement should have, except for research funding amounts, UMG having and retaining its ownership position
in any Intellectual Property Right generated in the course of such accompanying research collaboration, and other relevant topics to be
reasonably discussed, substantially the terms and conditions as the Accompanying Research Collaboration Agreement (aRCA) concluded between
the Parties with effective date December 21, 2021, which shall be adapted by the Parties in good faith to the specifics of the relevant
Target, considering the scientific and technical capabilities and resources of the Görlich Department and/or the Dobbelstein Department,
and MPG and UMG shall not unreasonably withhold its consent to such accompanying research collaboration agreement.

 

		9.4	Consequences of Non-Exercise of the Option. In case the JSC decides to discontinue a Subproject
in accordance with Section 2.5.2.1, or BiondVax does not exercise the Option for any Subproject in accordance with Section 9.2,
MPG and UMG (i) shall be free to decide to further develop and commercialize the Collaboration Compounds as well as the Sole MPG/UMG Collaboration
Technology and their share in Joint Collaboration Technology with respect to such Subproject and (ii) are entitled to request from BiondVax
(aa) the assignment of its ownership share in any Target-specific Nanobody Technology within Sole BiondVax Collaboration Technology and
Joint Collaboration Technology created in the relevant Subproject, and (bb) grant of a non-exclusive license, which shall be exclusive
for the Target pursued in the relevant Subproject, under any item of Enabling Nanobody Technology within the Sole BiondVax Collaboration
Technology and Joint Collaboration Technology created in the relevant Subproject, both in return for a fair and reasonable participation
of BiondVax in any future licensing revenues received by MPG and/or UMG from the commercialization of the relevant Subproject.

 

10. REPRESENTATIONS AND WARRANTIES /
LIABILITY

 

		10.1	No Representation and Warranties.

 

		10.1.1	OTHER THAN AS EXPRESSLY PROVIDED IN THIS RCA, NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES OF
ANY KIND, EXPRESS OR IMPLIED.

 

		10.1.2	Specifically, and not to limit Section 10.1.1, neither Party makes any representations or warranties (i)
that the intended goals or results of the Collaboration Project can be achieved, (ii) that Nanobodies against the Targets can be delivered
or, if delivered, will meet certain criteria, (iii) regarding the merchantability or fitness for a particular purpose of the Collaboration
Technology, (iv) regarding the patentability, scope, validity or enforceability of the Collaboration Patent Rights, (v) that products
based on or using the Collaboration Technology can be developed or commercialized, (vi) that the use of the Background Technology, the
Sideground Technology or the Collaboration Technology will not infringe any Intellectual Property Rights of any Third Party, and (vii)
that the use of the Background Technology, the Sideground Technology or the Collaboration Technology will not cause any damages of any
kind to a Party or to any Third Party.

 

    Page 35/47

     

    

 

		10.2	Limitation of Liabilities

 

		10.2.1	Limited Liability. Each Party shall be solely responsible and liable for any loss incurred by,
or damage or injury to any Third Party, resulting from the carrying out by it or on its behalf of the Collaboration Project, and/or from
its use of the Background Technology or the Collaboration Technology under this RCA, unless any other Party has an indemnification obligation
pursuant to Section 2.9 or applicable law. No Party shall have any liability towards any other Party in respect of infringement of any
Intellectual Property Rights of any Third Party resulting from said other Party’s use of the Background Technology or the Collaboration
Technology under this RCA. However, either Party shall promptly inform the other Parties if it becomes aware that use of any Background
Technology or any Collaboration Technology would infringe any Intellectual Property Rights of any Third Party.

 

		10.2.2	Exclusion. TO THE EXTENT LEGALLY PERMISSIBLE, IN NO EVENT SHALL EITHER PARTY (OR THEIR TRUSTEES,
DIRECTORS, OFFICERS AND EMPLOYEES) BE LIABLE FOR INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE, MULTIPLE OR CONSEQUENTIAL DAMAGES OF ANY KIND
(INCLUDING, WITHOUT LIMITATION, ECONOMIC DAMAGES CONSISTING OF LOST PROFITS, LOSS OF USE, DAMAGE TO GOODWILL, OR LOSS OF BUSINESS), REGARDLESS
OF WHETHER ANY OF THE AFOREMENTIONED PERSONS OR ENTITIES SHALL BE ADVISED, SHALL HAVE OTHER REASON TO KNOW, OR IN FACT SHALL KNOW OF THE
POSSIBILITY OF THE FOREGOING.

 

		10.2.3	Limitation. To the extent legally permissible, the aggregate liability for all claims of a Party
against another Party arising out of or under this RCA shall not exceed EUR [***].

 

		10.2.4	Unlimited Liability. The exclusions and limitations of Sections 10.2.1, 10.2.2 and 10.2.3 shall
not apply:

 

		(a)	to cases of mandatory statutory liability (e.g. under the Produkthaftungsgesetz);

 

		(b)	to damages to the life or health of human beings;

 

		(c)	to damages caused by gross negligence or willful intent of a Party or its Affiliates; and

 

		(d)	to the indemnification obligations pursuant to Section 2.9 or applicable law.

 

    Page 36/47

     

    

 

11. APPLICABLE LAW / DISPUTE
RESOLUTION

 

		11.1	Applicable Law / Dispute. This RCA, and any dispute, controversy or claim arising under, out of
or relating to this RCA (and any subsequent amendments of this RCA), including, without limitation, its formation, validity, binding effect,
interpretation, performance, breach, termination or enforcement, and any remedies relating thereto, as well as non-contractual claims
(collectively, a “Dispute”) shall be governed by the laws of the Federal Republic of Germany, without regard to conflict
of law principles, except that questions affecting the construction and effect of any Patent Rights shall be determined by the law of
the country in which such Patent Right shall have been granted.

 

		11.2	Dispute Resolution by Management. The Parties recognize that a Dispute may from time to time arise
between the Parties during the Term. In the event of a Dispute, a Party, by written notice to the other Parties, may have such Dispute
referred to the Parties’ respective officers or directors designated below or their successors, for attempted resolution by good
faith negotiations within 60 (sixty) days after such notice is received. Said designated officers or directors are as follows:

 

	 	For MPG:	Managing Director at MPI-MS
	 	For UMG:	Head of Stabsstelle Recht
	 	For BiondVax:	Chair of the Board
of Directors

 

MI may, in its sole discretion, nominate
1 (one) person as observer to the resolution by good faith negotiations. Such observer shall receive the agenda and other material provided
to the designated officers or directors, may attend meetings and speak, but have no right to vote or decide.

 

		11.3	Mediation. In the event the designated officers or directors are not able to resolve such Dispute
as set forth in Section 11.2 within 60 (sixty) days following the notice, then each Party may submit such Dispute to mediation in accordance
with the Deutsche Institution für Schiedsgerichtsbarkeit (DIS) Mediation Rules. The number of mediators shall be 1 (one),
appointed in accordance with such mediation rules, the place of mediation shall be Göttingen, Germany, and the language of the mediation
shall be English.

 

		11.4	Jurisdiction. If and to the extent the Dispute has not been settled pursuant to mediation as set
forth in Section 11.3 within 60 (sixty) days following the commencement of the mediation, then each Party may initiate court proceedings;
to the extent legally permissible, the district court of Göttingen, Germany (Landgericht Göttingen) shall have exclusive
jurisdiction over such Dispute. To the extent the Dispute relates specifically to questions of technology, intellectual property and/or
inventions/patents, the Parties will use reasonable efforts to have heard the case in the competent chamber for patent disputes (Patentstreitkammer)
and to the extent Know-how and/or other trade secrets are concerned to exclude the public and/or have ordered secrecy measures.

 

12. TERM AND TERMINATION

 

		12.1	Term. This RCA shall enter into force and effect on the Effective Date and, unless terminated earlier
in accordance with its termination provisions, shall continue to be in full force and effect until the expiry of the 5th (fifth)
year starting from the Commencement Date (the “Term”). The Parties may agree on a mutual prolongation of the Term for
2 (two) times 1 (one) year, it being understood that the annual funding amount to be provided by BiondVax for the research activities
to be conducted by MPG/MPI-MS (Görlich Department) and UMG (Dobbelstein Department) for each prolongation year shall be [***] (or
such other amount as agreed between the Parties in case of a refill or replacement of Targets in accordance with this RCA), increased
by an amount equal to the inflation occurred between the Effective Date and the start of the relevant prolongation year according to official
annual inflation rate documented and announced for Germany by the Statistisches Bundesamt plus VAT (if applicable). MPG and UMG
shall not unreasonably withhold their consent to a prolongation of the Term requested by BiondVax in light of a refill or replacement
of Targets in accordance with this RCA close to the end of the regular Term of this RCA.

 

    Page 37/47

     

    

 

		12.2	Termination for Failure of Collaboration Project. In case that after 3 (three) years from the Commencement
Date, all Subprojects failed to generate a Collaboration Compound which meet the Compound Acceptance Criteria applicable for the relevant
Subproject, and the Parties have not mutually agreed on refill Targets in accordance with Section 2.6, then MPG and UMG together
on the one side, and BiondVax on the other side, are each entitled to terminate this RCA by 3 (three) months prior written notice to be
sent within the 3 (three) months following the 3rd (third) anniversary of the Commencement Date.

 

		12.3	Termination for Cause. Each Party may terminate this RCA for good cause, upon 30 (thirty) days
prior written notice to the other Parties.

 

Such good cause shall be, but is not
limited to,

 

		(a)	if another Party is in breach of its material obligations under this RCA, and does not remedy such breach
within 90 (ninety) days after having received notice from the Party requiring remedying such breach and complying with the obligations
under this RCA. A breach of a material obligation includes, but is not limited to, the inability of a Party to carry out the work packages
allocated to it under the Project Plans for all Subprojects. If a Party reasonably disputes the existence or materiality of a breach specified
in a notice pursuant to this Section 12.3, and the breaching Party provides notice to the non-breaching Party of such dispute within the
applicable 90 (ninety) days cure period, the non-breaching Party may not terminate this RCA unless and until the existence or materiality
of such breach has been determined in accordance with Section 11, and the breaching Party fails to cure such determined breach within
90 (ninety) days following such determination. It is understood and agreed that during the pendency of such Dispute, all of the terms
and conditions of this RCA shall remain in effect, and the Parties shall continue to perform all of their respective obligations hereunder;
or

 

		(b)	if any approvals by competent authorities that are required by a Party to perform the Collaboration Project
are finally and legally binding revoked or withdrawn.

 

		12.4	Consequences of Termination and Expiration. In the event of termination or expiration of this RCA,
the final report shall be provided at the latest within 60 (sixty) days after the termination or expiration of this RCA in accordance
with Section 4.5 (which shall remain in force for this purpose). In the event of an early termination of this RCA (regardless of
whether by MPG, UMG or by BiondVax) pursuant to Sections 12.2 or 12.3, upon the effective date of such termination, each Party may immediately
cease to carry out its respective research work in the Collaboration Project without prejudice to any obligation regarding documentation
and reporting accruing with respect to termination or expiry. In the case of early termination by BiondVax pursuant to Section 12.3(a),
MPG shall pay-back to BiondVax the pro rata amount of the last annual tranche of the funding equivalent to the complete months
remaining in the then running contract year, but only to the extent such pro rata amount has not been already used or undertaken
as financial obligations specifically with respect to the performance of the Collaboration Project in the then running contract year,
which cannot be cancelled prior to the date of receipt of the termination notice (e.g. labor costs for lab personnel that has been hired
for the Term of this RCA, costs relating to lab or general infrastructure leased or acquired for the Term of this RCA). The expiration
or termination of this RCA shall not release a Party from any liability or obligation that became due on or before the effective date
of expiration or termination, nor shall it preclude a Party from pursuing all rights and remedies it may have under or arising out of
this RCA with respect to any breach, nor shall it prejudice a Party’s right to obtain specific performance of any obligation and/or damages.
Further, in the event of termination or expiration of this RCA, the last paragraph of Section 8.3.7 shall apply.

 

		12.5	Survival. Termination or expiration of this RCA shall not affect the provisions of Sections 1,
2.5, 2.10, 4.5, 6, 7, 8, 9, 10, 11, 12.4, 12.5 and 13 and to the extent the aforementioned provisions refer to another provision of this
RCA such referred provision shall continue in full force and apply in accordance with their terms.

 

    Page 38/47

     

    

 

13. MISCELLANEOUS

 

		13.1	Headings. All headings are for convenience only and shall not affect the meaning, and shall not
be used in the interpretation, of any provision of this RCA.

 

		13.2	Amendment and Waiver. This RCA may be amended, supplemented, or otherwise modified (including a
waiver of performance of any obligation under this RCA) only by means of a written document signed by the Parties. Any waiver of any rights,
or failure to act in a specific instance, shall relate only to such instance and shall not be construed as an agreement to waive any rights,
or fail to act in any other instance, whether or not similar.

 

		13.3	Assignment. This RCA is personal to the Parties, and neither this RCA, nor any rights and/or obligations
under this RCA, may be assigned or otherwise transferred by a Party to a Third Party without the prior written consent of the other Parties,
such consent not to be unreasonably withheld or delayed. For the avoidance of doubt, Affiliates are not considered Third Parties under
this RCA.

 

		13.4	Relationship of the Parties. It is expressly agreed that MPG, UMG and BiondVax will each be an
independent contractor, and that the relationship among the Parties will not constitute a partnership (specifically, no Gesellschaft
des bürgerlichen Rechts or similar), joint venture or agency. Notwithstanding any of the provisions of this RCA, neither Party
shall have any express or implied right or authority to assume or create any obligations on behalf of or in the name of the other Parties.

 

		13.5	Severability. Should one or more of the provisions of this RCA be void, invalid or unenforceable
under applicable law, the remaining provisions of this RCA will not cease to be effective. In case the void, invalid or unenforceable
provision does not qualify as general term (Allgemeine Geschäftsbedingung) according to §§ 305 et seq. German Civil
Code (Bürgerliches Gesetzbuch – BGB), the Parties shall negotiate in good faith to replace such void, invalid or unenforceable
provision by a new provision that reflects, to the extent possible, the original intent of the Parties.

 

		13.6	Notices. All notices and other communications provided for under this RCA will be addressed to
the Parties at the following addresses:

 

	If to BiondVax:	Attn.: Chief Executive Officer
	 	BiondVax Pharmaceuticals Ltd.
	 	Jerusalem BioPark Building, 2nd Floor
	 	Hadassah Ein Kerem Campus
	 	Jerusalem, Israel
	 	Email: [***]
	 	 
	 	With copy to
	 	CMS Hasche Sigle Partnerschaft von Rechtsanwälten und Steuerberatern mbB
	 	Attn.: Dr. Thomas Hirse
	 	Kasernenstraße 43-45
	 	40213 Düsseldorf
	 	Germany
	 	Email: [***]
	 	 
	If to MPG:	Attn: Prof. Dr. Dirk Görlich
	 	Director
	 	Max Planck Institute for Multidisciplinary Sciences
	 	Am Faßberg 11, 37077 Göttingen, Germany
	 	Email: [***]
	 	 
	If to UMG:	Attn.: Prof. Dr. Matthias Dobbelstein
	 	Department Head
	 	Universitätsmedizin Göttingen
	 	Robert-Koch-Str. 40, 37075 Göttingen, Germany
	 	Email: [***]

 

Either Party may
by written notice specify or change an address to which notices and communications will thereafter be sent. Notices sent by e-mail, mail
or overnight delivery will be effective on receipt, and notices given personally will be effective when handed-over.

 

[Remainder of this page intentionally left blank
/ signatures follow on next page]

 

    Page 39/47

     

    

 

In witness whereof, the Parties have caused this
RCA to be executed by their duly authorized representatives.

 

	Max-Planck-Gesellschaft zur 	 
	Förderung der Wissenschaften e.V.	 
	 	 
	By:	                                         	 
	Name: 	Prof. Dr. Patrick Cramer	 
	Title:	Managing Director at the Max Planck Institute	 
	 	for Biophysical Chemistry	 
	 	 	 
	Date:	 	 
	 	 	 
	Georg-August-Universität Göttingen 	 
	Stiftung Öffentlichen Rechts	 
	Universitätsmedizin Göttingen 	 
	 	 
	 	 
	Göttingen, Datum	 
	 	 
	 	 
	Prof. Dr. Wolfgang Brück, Dekan der	 
	Medizinischen Fakultät und Vorstand	 
	für Forschung und Lehre	 
	 	 
	 	 
	Jens Finke, Leiter Finanzen	 
	Vorstand für	 
	Wirtschaftsführung und Administration	 

 

ACKNOWLEDGED & AGREED by UMG Project Leader:

 

Regarding Section 7, signing this RCA renounces
my right to remain silent about any of my employee ́s inventions within the Collaboration Project according to § 42 Nr. 2 ArbNErfG
towards UMG, MPG and BiondVax:

 

	By:	                      	 
	Name: 	Prof. Dr. Matthias Dobbelstein	 
	Title:	Department Head	 
	 	 	 
	Date:	 	 
	 	 	 
	BiondVax Pharmaceuticals Ltd.	 
	 	 
	By:	 	 
	Name:	Amir Reichman	 
	Title:	Chief Executive Officer	 
	 	 	 
	Date:	 	 

 

    Page 40/47

     

    

 

List of Appendices:

 

Appendix 0.7 (Target List)

Appendix 1.3 (Background Technology BiondVax)

Appendix 1.12 (Compound Acceptance Criteria)

Appendix 1.36 (Project Plan)

Appendix 1.40 (Sample License Agreement)

Appendix 2.10 (Sample Subproject Technology Compilation
Document)

 

    Page 41/47

     

    

 

Appendix 0.7

 

Target List

 

[***]

 

 

 

 

 

 

 

 

 

 

 

 

    Page 42/47

     

    

 

Appendix 1.3 

 

Background Technology BiondVax

 

[***]

 

 

 

 

 

 

 

 

 

 

 

 

    Page 43/47

     

    

 

Appendix 1.12

 

Compound Acceptance Criteria

 

[***]

 

 

 

 

 

 

 

 

 

 

 

 

    Page 44/47

     

    

 

Appendix 1.36

 

Project Plan

(general plan applicable to all Subprojects of the Target List)

 

In general, the works in the course of each Subproject conducted
under the RCA will be as follows:

 

[***]

 

The Parties of the RCA may, on a per Subproject basis, mutually agree
on further details of the Project Plan for the respective Subproject.

 

    Page 45/47

     

    

 

Appendix 1.40

 

Sample License Agreement

 

(separate document)

 

 

 

 

 

 

 

 

 

 

 

    Page 46/47

     

    

 

Appendix 2.10

 

Sample Subproject Technology Compilation Document

for Subproject [Name of pursued Target]

 

(to be filled by the Parties
in accordance with Section 2.10 after the conclusion of the RCA) 2.10.22.10.3[***]

 

 

 

 

 

 

 

 

Page 47/47

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]