Document:

Supply Agreement

 Exhibit 10.5 
 Portions of this exhibit marked [*] are requested to be treated confidentially. 

SUPPLY AGREEMENT 
 This Supply Agreement (hereinafter referred to as this “Agreement”), effective as March 15, 2011 (the “Effective Date”), is entered into by and between
Ercros S.A, a Spanish corporation having a place of business at Paseo del Deleite s/n, 28300 Aranjuez-Madrid (Spain) (“Ercros” or “Supplier”), Gyma Laboratories of America, Inc., a New York corporation
having a place of business at 135 Cantiague Rock Road, Westbury, New York 11590 USA (“Gyma” or “Supplier Agent”), and CEM-102 Pharmaceuticals, Inc., a Delaware corporation having a place of business at
Building Four Quadrangle, 6340 Quadrangle Drive, Suite 100, Chapel Hill, North Carolina 27517 USA (“Cempra”). 
 WITNESSETH 
 WHEREAS, Cempra wishes to develop and commercialize certain
pharmaceutical products incorporating Sodium Fusidate (as defined below) and Fusidic Acid (as defined below, and together with Sodium Fusidate, the “Supplied API”) as an API (as defined below); 

WHEREAS, Supplier has the expertise and the facilities suitable for the manufacture and supply of Supplied API for use as an active
pharmaceutical ingredient; 
 WHEREAS, Cempra wishes to have Supplier manufacture and supply clinical and commercial batches of
Supplied API pursuant to the terms and conditions of this Agreement; 
 WHEREAS, Supplier Agent is currently the agent for
Supplier with respect to the distribution of Supplied API in the Exclusive Territory (as defined below). 
 NOW, THEREFORE, for
and in consideration of the covenants, conditions, and undertakings hereinafter set forth, it is agreed by and between the parties as follows. 
 1. Definitions. 
 1.1 “Act” means the United States’ Federal
Food, Drug & Cosmetic Act (21 U.S.C. §§301 et seq.), as amended, and the regulations promulgated thereunder. 
 1.2 “Affiliate” means a person, corporation, partnership, or other entity that controls, is controlled by or is under common control with a party to this Agreement. For the purposes of this
Section 1.2, the word “control” (including, with correlative meaning, the terms “controlled by” or “under the common control with”) means the actual power, either directly or indirectly through one or more
intermediaries, to direct the management and policies of such entity, whether by the ownership of at least fifty percent (50%) of the voting stock of such entity, or by contract or otherwise 

1.3 “API” means active pharmaceutical ingredient. 
 1.4 “Applicable Adjustment Period” shall have the meaning set forth in Section 7.1. 

 1.5 “Applicable Laws” means all applicable provisions of all statutes, laws,
rules, regulations, administrative codes, ordinances, decrees, orders, decisions, guidance documents (including FDA guidance documents), injunctions, awards judgments, and permits and licenses of or from governmental authorities relating to the
manufacture, use, sale, distribution, marketing, or regulation of the subject item. 
 1.6 “Cempra Intellectual
Property” means all intellectual property rights owned, licensed, or controlled by Cempra relating to the use, dosing, manufacture, or composition of Supplied API or Products. 

1.7 “Cempra Products” means Products developed or sold by Cempra, its Affiliates, or their licensees or distributors pursuant
to contracts regarding the same executed between Cempra or its Affiliates and such third parties. 
 1.8 “Cempra
Specifications” shall mean those specifications set forth on Exhibit A, as it may be amended or supplemented from time to time. 
 1.9 “Disclosing Party” shall have the meaning set forth in Section 13.1. 
 1.10 “Exclusive Territory” means the United States of America and its territories and protectorates. 
 1.11 “FDA” means the United States Food and Drug Administration or any successor agency having the administrative authority to regulate the approval for testing or marketing of human
pharmaceutical or biological therapeutic products in the United States. 
 1.12 “Forecast” means the written forecast
describing Cempra’s anticipated requirements with respect to Supplied API for a given time period, including the anticipated delivery schedule with respect to such Supplied API. 

1.13 “Forecast Period” has the meaning set forth at Section 5.3. 

1.14 “Fusidic Acid” means
ent-(17z)-16a-(acetoxy)-3b, 11b-dihydroxy-4b, 8,
14-trimethyl-19-nor-5b, 10a-cholesta-17(20), 24-dien-21-oic acid. 
 1.15 “GMP” means the applicable current good manufacturing practices promulgated from time to time by the FDA in accordance with the Act, including those set forth in 21 C.F.R. Parts 210 and
211, and consistent with ICH guidelines. 
 1.16 “HICP” shall have the meaning set forth in Section 7.1.

 1.17 “ICH” means the International Conference on Harmonisation of Technical Requirements for Registration of
Pharmaceuticals for Human Use. 
 1.18 “IFRS” means International Financial Reporting Standards, as adopted and
amended from time-to-time by the International Accounting Standards Board. 

  
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 1.19 “Manufacturing Costs” means, with respect to the Supplier’s
manufacturing and supply of Supplied API to Cempra hereunder, the reasonable, documented direct costs of all raw materials and direct labor used or consumed in such manufacture, as calculated in accordance with IFRS. 

1.20 “Order” means a written purchase order for Supplied API, which order shall include a delivery schedule specifying the
requested delivery date(s) and quantity(ies) for Supplied API ordered, and the location to which shipment of Supplied API is to be delivered. Orders shall include, but not be limited to, the Initial Order. 

1.21 “Order Period” has the meaning set forth at Section 5.3. 

1.22 “Price” means the applicable prices for Supplied API established in accordance with Section 7. 

1.23 “Product” means any human or animal pharmaceutical product incorporating Supplied API as API. 

1.24 “Product Approvals” means any approvals, licenses, registrations or authorizations granted by any national, federal, state
or local regulatory agency, department, bureau or other government entity, including but not limited to the FDA, necessary for the development, clinical testing, marketing, manufacture, use, storage, import, transport, or sale of Products in any
jurisdiction, any and all regulatory filings or submissions necessary to procure any of the foregoing, including, but not limited to, an investigational new drug application (“IND”), an abbreviated new drug application
(“ANDA”), a new drug application (“NDA”), or any other application acceptable to the FDA or equivalent foreign regulatory authority for the development, clinical testing, and/or marketing approval of a
pharmaceutical or biological product, including any supplements or amendments thereto and any and all correspondence, filings, and documents related to any of the foregoing. 
 1.25 “Receiving Party” shall have the meaning set forth in Section 13.1. 
 1.26 “Regulatory Authority” means any federal, national, supranational, multinational, state, provincial or local regulatory agency, department, bureau or other governmental entity with
authority over the testing, manufacture, use, storage, import, promotion, marketing and sale of a pharmaceutical product in a country, including but not limited to the FDA and EMEA. 

1.27 “Sodium Fusidate” means sodium (Z)-ent-16a-(acetoxy)-3b,11b-dihydroxy-4b,8,14-trimethyl-18-nor-5b,10a-cholesta-17(20),24-dien-21-oate, as further described in the Specifications. 
 1.28
“Specifications” means the description of and specifications for Supplied API described on Exhibit A, attached hereto, and shall include the Cempra Specifications, all of which may be further amended by the parties according to the
terms hereof. 
 1.29 “Supplied API” means Sodium Fusidate and Fusidic Acid. 

2. Effectiveness; Term. This Agreement shall be effective from the execution of this Agreement until the longer of
(i) eighteen (18) years from the date of execution of this Agreement, (ii) the last to expire issued patent owned, controlled or licensed by Cempra related to the Product, (iii) any

  
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period of regulatory exclusivity for a Cempra Product in the Exclusive Territory; subject to earlier termination pursuant to Sections 15 or 16 below. 

3. Product Approval. 
 3.1 Supplier will reasonably assist Cempra in compilation of information for the chemistry, manufacturing and control documentation which Cempra determines in good faith is needed for completion of
Product Approvals or filings or submissions with respect thereto, regulatory or otherwise. Supplier shall (i) provide Cempra with the publicly available portion of any drug master file established, maintained, or referenced by Supplier with
respect to Supplied API supplied hereunder or otherwise related to its performance under this Agreement, (ii) maintain and update all such drug master files in compliance with all Applicable Laws (including but not limited to GMP and all FDA
regulations and guidelines and those requirements included in the Product Approvals), and (iii) grant Cempra a right of reference (including rights of sublicense and assignment of such right of reference) to any such drug master file or related
supporting information. Supplier Agent may perform certain of the Supplier’s foregoing obligations at the request of Supplier. 
 3.2 Supplier or Supplier Agent shall notify Cempra in writing as soon as possible of any notification received by either Supplier or Supplier Agent from FDA or any other applicable Regulatory Authority to
conduct an inspection of Supplier’s manufacturing, development or other facilities directly related to the manufacture or supply of Supplied API under this Agreement. Within five (5) business days of receipt thereof, Supplier or Supplier
Agent shall provide to Cempra a copy of any report and other written communications (including a detailed summary, in English, of any oral comments made by an agent of the FDA or applicable Regulatory Authority) received by them from the FDA or
applicable Regulatory Authority to the extent that such report or communication relates to Supplier’s performance under this Agreement or the manufacture of Supplied API. Supplier or Supplier Agent shall provide Cempra with frequent, prompt
status updates with regard to any audit or inspection conducted by FDA (or other applicable Regulatory Authority) of Supplier which relates directly to Supplied API supplied under this Agreement or which could impact on the ability to make or to
continue to make and supply Supplied API under this Agreement. 
 3A. Diligence; Responsibility. Cempra shall use
commercially reasonable efforts to develop and commercialize a Cempra Product in the Exclusive Territory, provided that the actions of Cempra’s Affiliates and their sublicensees, distributors and other commercial partners shall be deemed the
acts of Cempra for purposes of satisfying Cempra’s obligations under this Section 3A. 
 4. Manufacturing Change
Control. No changes to any methods, processes, procedures or testing protocols and/or methods governing the manufacture, storage, testing (in process, release, stability) of Supplied API to be supplied hereunder or in any manufacturing
equipment, facilities, or site(s) related to the manufacture of Supplied API for Cempra shall be made (i) unless in accordance with GMP and (ii) without the appropriate notification and, if applicable, approval, of FDA. Supplier shall
notify Cempra in the event of any such change but shall not be required to inform Cempra of the particulars of such change if such information is not part of the publicly available portion of the applicable drug master file. In addition, Supplier
shall provide written notice to Cempra of any proposed 

  
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change in manufacturing site as soon as reasonably possible, but in any event at least [*] ([*]) [*] in advance of any such proposed change, provided that any such change shall not affect or
limit Supplier’s obligation to comply with the Cempra Specifications or any Specifications or process requirements resulting from Required Manufacturing Changes. 
 5. Supply. 
 5.1 Supplier shall supply Supplied API to Cempra as further
described in this Agreement. 
 5.2 Cempra may from time to time place Orders for Supplied API as more fully described below. No
terms and conditions contained in any Order, acknowledgment, invoice, bill of lading, acceptance or other preprinted form issued by either party shall be effective to the extent they are inconsistent with or modify the terms and conditions contained
herein. 
 5.3 Cempra shall, not less than [*] ([*]) days before the beginning of each Order Period, submit to Supplier Agent
(i) its Order for the Supplied API to be delivered by Supplier to Cempra during that Order Period (if any) and (ii) a Forecast for the Forecast Period (including the Order Period covered by the Order (if any)), provided that,
notwithstanding the foregoing, (a) Cempra shall not be required to order any Supplied API for any Order Period under this Agreement and (b) Forecasts shall not be binding obligations of Cempra (except to the extent Supplied API is ordered
for the first Order Period thereof pursuant to an Order). Supplier Agent shall submit any Order or Forecast to Supplier within [*] ([*]) [*] of receipt and Supplier shall confirm to Cempra in writing receipt of such Order or Forecast within [*]
([*]) [*] of receipt from Supplier Agent. Supplier shall accept any amendment to an Order made by Cempra within [*] ([*]) [*] after such Order is given, provided, however, Supplier shall not be obligated to accept such amendment if quantities are
increased to amounts that exceed the capacity required by Section 5.6 hereof. For any Order, Supplier shall deliver Supplied API no later than the end of the Order Period. An “Order Period” shall mean a [*] until such
time as Cempra elects to make the Order Period a [*], which shall be no later than the date upon which [*]. A Forecast Period shall be the [*] ([*]) Order Periods following the Order Period covered by the applicable Order. 

5.4 Cempra shall be entitled at its option to reject the whole or part of any delivery of Supplied API which does not comply with the
Specifications, GMP, or applicable regulatory requirements of the United States and country of manufacture (including but not limited to those contained in any applicable Product Approvals). Supplier shall, as elected by Cempra in its reasonable
discretion, immediately replace (without additional cost) or refund to Cempra the Price of any Supplied API which does not comply with the Specifications, the requirements of this Agreement, GMP, or applicable regulatory requirements of the United
States and country of manufacture (including but not limited to those contained in Product Approvals). Cempra shall be deemed to have accepted any delivery of Supplied API unless it gives Supplier or Supplier Agent notice of its rejection within [*]
([*]) [*] of delivery. If and as requested by Supplier, Cempra shall return to Supplier Agent, at [*] cost, any Supplied API rejected properly in accordance with this Section 5, in which case [*] shall pay to [*] the actual cost incurred by [*]
in effecting the return of such Supplied API. 
  
  

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 5.5 If, with respect to any Supplied API which has been replaced and/or for which the Price
therefor has been refunded is, following investigation, found by reasonable, independent, neutral, mutually agreeable third party analysis pursuant to generally-accepted scientific methods, to have complied with the Specifications, GMP, and all
Applicable Laws (including but not limited to requirements described in the Product Approvals), Cempra shall: 
 (a) accept
such Supplied API as part of the next order and, if no Order will be placed before the termination of this Agreement, pay Supplier Agent the applicable Price therefor, and 
 (b) refund any additional amount paid by [*] to [*] with respect thereto. 
 5.6
Supplier shall use commercially reasonable efforts to ensure that they have sufficient capacity to enable them to supply [*] percent ([*]%) of the quantity of Supplied API specified in each Forecast, and if Orders are placed for such increased
quantities the Supplier will use best efforts to meet and fulfill Orders. 
 5.7 If Supplier determines that it will not be able
to supply the respective Supplied API to Cempra in material satisfaction of the most recent Orders and/or Forecast, Supplier shall, within [*] ([*]) [*], notify Cempra in writing of such determination, which notice shall provide Cempra with the
details on the extent of the expected shortfall of supply, the causes of such inability to supply, and a proposed solution to the problem. Upon such notice of a supply problem, without limiting any of the remedies available to Supplier and Cempra
set forth in this Agreement, Cempra and the Supplier (and Supplier Agent) will immediately meet and work together, in good faith, to identify an appropriate resolution to the supply problem. Any agreed resolution to the supply problem will be set
forth in a writing executed by all parties. 
 5.8 Neither Supplier nor Supplier Agent shall (i) engage any third party to
perform any portion of its obligations under this Agreement, (ii) directly or indirectly market, sell, or distribute Supplied API, any Product, or any product incorporating Supplied API, including, without limitation, any other salt forms of
Supplied API, to any Affiliate of either Supplier, Supplier Agent or any third party (including but not limited to consumers, end users, or commercial customers) in the Exclusive Territory, (iii) directly or indirectly supply Supplied API, any
Product, or any product incorporating Supplied API including, without limitation, any other salt forms of Supplied API, to any Affiliate of either Supplier or Supplier Agent or any third party (including but not limited to consumers, end users, or
commercial customers) for use, sale, or distribution in the Exclusive Territory, nor (iv) otherwise assist, directly or indirectly, any Affiliate of either Supplier or Supplier Agent or any third party in the manufacture, development,
marketing, distribution, or sale of Products or products incorporating Supplied API in the Exclusive Territory, and neither Supplier nor Supplier Agent shall use commercially reasonable efforts to impose upon either Supplier’s or Supplier
Agent’s Affiliates, distributors, customers, and other contractors, to the extent such relationships involve Supplied API, contractual obligations prohibiting the activities prohibited by (ii), (iii), and (iv) above, provided that Supplier
shall be entitled to engage Supplier Agent and/or sell Supplied API to Supplier Agent as necessary to satisfy Supplier’s obligations under this Agreement. Cempra shall not purchase any Supplied API from any third party for any purposes of
commercially selling Products in the Exclusive Territory, except as permitted by Section 5.9 of this Agreement. The restrictions set forth in clauses (ii), (iii) and (iv) above shall terminate in the event 

 
  

	[*]	Confidential treatment requested; certain information omitted and filed separately with the SEC. 

  
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 that Cempra does not file with the FDA an NDA for the sale of the initial Cempra Product prior to [*];
provided that such delay was not caused in part or in whole by Supplier or Supplier Agent in which case clauses (ii), (iii) and (iv) shall remain in effect; provided, further, that if such delay was not caused in part or in whole by either
Cempra, Supplier or Supplier Agent, Cempra and Supplier shall negotiate in good faith to extend the [*] to a reasonable future date. 
 5.9 Cempra shall have the right to secure a second source of Supplied API from a third party, and to purchase from such second source an amount Cempra reasonably determines is sufficient to sustain such
third party as a viable second source, such amount not to exceed [*] percent ([*]%) of Cempra’s requirements for the respective Supplied API for the Cempra Product in any given calendar year. The foregoing restrictions and quantity limitation
shall not apply to the extent Supplier is not able to adequately supply Cempra on a timely basis with Supplied API in conformance with GMP and the Specifications under the terms set forth herein. 

5.10 Supplier Agent is acting solely as an agent to Supplier with respect to (i) the ordering and payment for the Product,
(ii) for certain communications with the FDA and other Regulatory Authorities, and (iii) the receipt, handling and storage of Product received from Supplier prior to delivery to Cempra. Supplier Agent shall not be responsible for any
obligation of Supplier except as specifically provided herein. Supplier Agent may be replaced or removed as Supplier Agent pursuant to this Agreement by Supplier only with the consent of Cempra. 

6. Quality; Regulatory. 
 6.1 Supplier warrants that all Supplied API supplied pursuant to this Agreement shall (i) be manufactured in accordance with current GMP and (ii) comply with the Specifications and all
Applicable Laws (including but not limited to FDA regulations and requirements included in the Product Approvals), provided that Specifications may be amended as (a) reasonably requested by Cempra and agreed upon by Supplier, such agreement not
to be unreasonably withheld, or (b) necessary to conform such Specifications to the regulatory requirements necessary to obtain and maintain Product Approvals with respect to Cempra Products, including but not limited to the approval of
alternative dosages or indications of Cempra Products. In the event any change in the Specifications materially increases or decreases the Manufacturing Costs, then the parties will meet and negotiate in good faith an increase or decrease in the
Price. 
 6.2 For additions or changes to the Specifications or manufacturing processes that are required by GMP or Applicable
Laws of the United States or other applicable Regulatory Authority (including but not limited to those requirements of the FDA and Product Approvals) (collectively, “Required Manufacturing Changes”), the parties shall
cooperate in making such changes in a timely fashion and amending the Specifications to reflect such additions or changes. Either Cempra or Supplier shall be free to propose changes to the Specifications or manufacturing processes that are not
Required Manufacturing Changes (collectively, “Discretionary Manufacturing Changes”). Any Discretionary Manufacturing Changes proposed by Cempra shall only be effective upon the approval of FDA (or other applicable Regulatory
Authority) and Supplier’s written agreement to such changes and, such approval which shall not unreasonably be withheld, and the Supplier shall implement any such Discretionary Manufacturing Changes agreed upon in writing by the parties as soon
as reasonably practicable. Any 
  
  

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Discretionary Manufacturing Changes proposed by Supplier shall only be effective upon the approval of FDA (or other applicable Regulatory Authority), provided that no Discretionary Manufacturing
Changes affecting any (i) Specifications or process changes that are the result of Required Manufacturing Changes or (ii) Cempra Specifications may be effected unless approved by Cempra in advance and in writing, which approval shall not
be unreasonably withheld. Notwithstanding the foregoing, the commercially reasonable, documented, direct costs, including, without limitation, obsolete raw materials, work-in-process, packaging and labeling materials (i) associated with
implementing any Required Manufacturing Changes shall be born by [*] (ii) associated with implementing any Discretionary Manufacturing Changes shall be borne by [*]. In the event any Required Manufacturing Changes or Discretionary Manufacturing
Changes materially increase or decrease the ongoing Manufacturing Costs, then the parties will negotiate in good faith an increase or decrease in the Price by an amount equal to the increase or decrease in Manufacturing Costs. 

6.3 Supplier shall conduct quality control testing of every batch of Supplied API manufactured hereunder and provide Cempra with
certificates of quality assurance and quality control analysis with respect to all deliveries of Supplied API, as customary in the pharmaceutical industry and in compliance with GMP and all applicable regulatory requirements of the United States
(including those of the FDA) and other applicable Regulatory Authority, and with the manufacturing and export documents necessary for (i) import of the Supplied API and (ii) compliance with GMP and all Applicable Laws. Supplier shall keep
complete, accurate and authentic accounts, notes, data and records of the work performed by it under this Agreement and shall maintain complete and adequate records pertaining to the methods and facilities used by it for the manufacture, processing,
testing, packing, labeling, holding and distribution of Supplied API in accordance with the Applicable Laws and GMP. All raw data generated in the manufacturer, testing, and supply of Supplied API under this Agreement shall be maintained by the
Supplier in a readily accessible manner for at least the longer of (i) [*] ([*]) [*] following the expiration date of the final Product into which the Supplied API is incorporated or (ii) such time as may be required by GMP or Applicable
Law. 
 6.4 All facilities utilized by the Supplier to manufacture, store, or otherwise handle Supplied API manufactured for
Cempra under this Agreement or utilized by Supplier Agent to store or otherwise handle Supplied API manufactured by Supplier for Cempra hereunder, or source intermediates therefore, shall comply with and satisfy all requirements under GMP and all
Applicable Laws concerning the manufacture of Supplied API for use in pharmaceutical or biological products for human use (including but not limited to those of the FDA or included in the Product Approvals), including the maintenance of such
standards or requirements sufficient to pass any inspection pursuant to such requirements. Without limiting the generality of the foregoing, the Supplier shall obtain and maintain all licenses, registrations, and other authorizations required to
operate a GMP facility under Applicable Laws (including but not limited to those of the FDA). Supplier shall be responsible for all costs and fees related to obtaining and maintaining regulatory permits, certificates, approvals, or other
authorizations required to manufacture Supplied API, and/or qualify any manufacturing sites for the manufacture of Supplied API, under this Agreement in compliance with all Applicable Laws (including but not limited to GMP and those of the FDA).
Supplier shall comply with all Applicable Laws in performing their obligations hereunder, including but not limited to any applicable environmental, toxic or hazardous waste, or similar regulations. 

 
  

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 6.5 Supplier will be responsible for any reporting of matters regarding the general
manufacture of Supplied API, as applicable, to the FDA and other applicable Regulatory Authority in accordance with GMP and Applicable Laws and may utilize Supplier Agent to perform such responsibilities. Supplier or Supplier Agent shall notify
Cempra of any such matter within [*] ([*]) [*] and furnish copies of such reports to Cempra within [*] ([*]) [*]. Supplier or Supplier Agent also shall advise Cempra of any material occurrence or new information which arises out of the
Supplier’s manufacturing, testing (including in process, release or stability), or other activities which may reasonably be expected to have adverse regulatory compliance and/or reporting consequences concerning any Product. Supplier or
Supplier Agent shall promptly (and in any event, within the time period reasonably necessary to enable Cempra to comply with GMP and any Applicable Laws with respect to the clinical use or commercial sale of Products for human therapeutic use)
report any adverse events, customer complaints, trend analysis, or other circumstances of which either Supplier or Supplier Agent becomes aware that may relate to the safety or efficacy of any Products. 

6.6 Supplier shall, subject to this paragraph, be responsible for handling and responding to any appropriate FDA (or other applicable)
Regulatory Authority inspections with respect to manufacturing of Supplied API during the term of this Agreement and may utilize Supplier Agent to perform such responsibilities. Supplier or Supplier Agent shall promptly provide to Cempra copies of
any (i) request or inquiry made by FDA (or other applicable Regulatory Authority) with respect to Supplied API or its manufacture, testing, or storage for Cempra under this Agreement and (ii) any response thereto or information provided in
response with respect to the foregoing by either Supplier or Supplier Agent, provided that, when reasonably practicable, Cempra shall be provided an opportunity to review and comment on any and all such responses reasonably in advance of their
submission by either Supplier or Supplier Agent to FDA (or other applicable Regulatory Authority), provided that final discretion with respect to any such response remains with Supplier. Supplier and Supplier Agent shall use best efforts to promptly
(but in any event within [*] ([*]) [*]) (i) advise Cempra of any requests by FDA (or other applicable Regulatory Authority) for any inspections with respect to the manufacturing of Supplied API under this Agreement and (ii) provide Cempra
with copies of any correspondence related thereto. 
 6.7 Supplier certifies that they have not and covenant that they will not
use in any capacity in connection with the manufacture of Supplied API under this Agreement the services of any person, including any firm or individual, debarred or subject to debarment under Applicable Laws (including but not limited to GMP or
those of the FDA). Supplier and Supplier Agent agree to notify Cempra immediately in the event any person providing services to either Supplier or Supplier Agent under this Agreement is debarred or becomes subject to debarment. 

6.8 Supplier shall retain a reasonably sufficient quantity of each batch of Supplied API to perform quality control testing and
representative batches of Supplied API will be placed on stability testing as described in the current drug master file for Supplied API and as necessary to comply with GMP and FDA requirements and other Applicable Law. Supplier shall maintain
samples of each batch in a reasonably suitable storage facility until at least the later of (i) the [*] ([*]) [*] or (iii) such longer period as may be required under the Specifications, GMP, and/or Applicable Laws (including but not
limited to those of the FDA and the Product Approvals). Portions of all such samples and representative batches shall be made reasonably available (i) for testing by Cempra upon request and, 

 
  

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 upon Cempra’s prior written consent, such consent not to be unreasonably withheld, (ii) to FDA and
other applicable Regulatory Authority. Samples of any samples provided to FDA and other applicable Regulatory Authority shall be retained by the Supplier in quantities reasonably sufficient to allow quadruplicate replicatory testing by Cempra.

 6.9 Supplier shall maintain all records as are necessary to comply with all Applicable Laws of the United States, including
but not limited to all records reasonably necessary to support all GMP guidelines and requirements. All such records shall be available for inspection, audit and copying by Cempra, its representatives, and FDA upon reasonable request during normal
business hours. All such records shall be maintained for a period as required under GMP and the Applicable Laws of the United States, provided that all records relating to the manufacture, stability and quality control of each batch of Supplied API
shall be retained at least until the later of (i) the [*] ([*]) [*], or (ii) such longer period as may be required under the Specifications, GMP, and all Applicable Laws (including but not limited to those of the FDA and the Product
Approvals). 
 6.10 Supplier and Supplier Agent agree to notify Cempra forthwith of its knowledge or receipt of notice of the
initiation of any inquiries, notices or inspection activity by FDA (or other applicable Regulatory Authority) with respect to Supplied API and shall provide Cempra with a reasonable description of any such inquiries and documentation (including but
not limited to any FDA Establishment Inspection Report Form 483 or FDA warning letter or equivalent if a Regulatory Authority other than the FDA) not later than five (5) working days after such visit or inquiry. 

6.11 Supplier and Supplier Agent shall reasonably assist Cempra in the finalization of the chemistry, manufacturing, and controls portion
of any and all regulatory filings or correspondence (including but not limited to Product Approvals or applications therefor), as requested by Cempra in conjunction with its preparation and submission of such materials with respect to any Products.
Supplier shall provide Cempra with all manufacturing procedures, controls for active and inactive ingredients and finished dosage forms, chemistry and stability information, and any other information to the extent or in a manner reasonably necessary
for the preparation of Product Approvals. 
 6.12 The Supplier and Cempra shall negotiate in good faith and execute a quality
agreement within ninety days after the date hereof concerning additional detailed logistical and regulatory procedures, and allocating responsibility for specific regulatory requirements, between the parties, which agreement shall be reasonable and
consistent with industry standards. 
 7. Price; Payment. 

7.1 The Price of Supplied API supplied hereunder shall be as follows (pro rated for any portions thereof): 

 

			
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 For purposes of determining the pricing tier above, purchases of all Supplied API and
Fusidic Acid in any [*] shall be combined. On the date that is [*] ([*]) [*] from the date of [*], and on each subsequent [*] of such date during the term of this Agreement, Supplier and Cempra will revisit the pricing structure set forth above to
reflect the current market conditions and costs to manufacture Supplied API and to consider the impact of any generic competition to the Product; provided that in no case shall any increase to the then current [*] exceed the [*] of (i) [*];
provided, that if [*], and (ii) [*]. For purposes of the foregoing price adjustment mechanism, the [*] shall mean the [*] ([*]) [*] period prior to the [*]. Except as provided in this Agreement, the Price shall not be increased or decreased
without the written consent of Supplier and Cempra. 
 Cempra shall pay Supplier Agent the applicable Price for all Supplied API
delivered to it within [*] ([*]) [*] of Cempra’s receipt of (i) conforming Supplied API delivered in accordance with this Agreement and (ii) a detailed written invoice with respect to such Supplied API. In the event that Cempra
rejects any Supplied API pursuant to Section 5 hereof, Cempra shall pay as provided in the previous sentence for all Supplied API in such shipment that was not rejected. 
 7.2 Any payment by Cempra to Supplier Agent of the full price for any delivered Supplied API shall satisfy any and all payment obligations with respect to Supplier. Supplier shall have no recourse against
Cempra with respect to payment for any supply of Supplied API under this Agreement. Cempra shall not be liable for, and Supplier Agent shall indemnify and hold Cempra harmless for, any failure of Supplier to receive payment from Supplier Agent for
the supply of Supplied API under this Agreement. 
 8. Delivery, Title and Risk. 

8.1 Delivery of the Supplied API shall be effected CIF (Incoterms) the location specified by Cempra in each Order, at which time all risk
of loss and damage to the Supplied API shall pass to Cempra, provided that the Supplier or Supplier Agent shall carry out all customs and export clearances necessary for the shipment, export, and import of Supplied API out of and/or into any
jurisdiction and obtain, at their own expense, any export or import license or other governmental authority required for exportation and/or importation into and/or out of any jurisdiction. 

8.2 Prior to release or shipment to Cempra, the Supplier shall perform release testing, consistent with industry standards, pursuant to
the Specifications, GMP, and all Applicable Laws (including but not limited to those of the FDA and the Product Approvals). 

8.3 If Cempra refuses in writing to take delivery of conforming Supplied API, ordered by Cempra and delivered on time, at the time stated
for delivery, Supplier or Supplier Agent shall be entitled, at their discretion, to store Supplied API at Cempra’s cost, which shall be commercially reasonable, and include insurance with coverage in amounts and types reasonably sufficient to
cover the loss of such Supplied API. 
  
  

	[*]	Confidential treatment requested; certain information omitted and filed separately with the SEC. 

  
 11 

 9. Product Recall. Cempra shall provide prior written notice to Supplier and Supplier
Agent of any Recall planned by Cempra with respect to Products incorporating the Supplied API supplied hereunder. Neither Supplier nor Supplier Agent shall be entitled to effect any Recall with respect Cempra Products without Cempra’s prior
written consent. Supplier and Supplier Agent shall reasonably cooperate with Cempra in connection with any Recall. 
 10.
Manufacturing Rights and Regulatory Assistance. Supplier and Supplier Agent shall, as reasonably requested by Cempra, at Cempra’s expense, assist Cempra’s efforts to maintain and/or obtain Product Approvals for products
incorporating Supplied API, including but not limited to such approvals as may be necessary for marketing and selling products incorporating Supplied API (1) in additional formulations or dosage strengths or (2) for additional indications,
and otherwise provide such information, data, materials, documents, and assistance as may be requested by Cempra in order to satisfy any Regulatory Authority’s request, respond to any inquiry, audit, or correspondence from any Regulatory
Authority, or otherwise seek, maintain, or support any Product Approval or application, amendment, or supplement with respect thereto. 
 11. Inspections; Audit. In order for Cempra to determine whether the Supplier is operating in accordance with the provisions of this Agreement and for Cempra to ensure the adequacy of its supply of
Supplied API, the Supplier and Supplier Agent agree to allow Cempra or an agent or designee of Cempra, upon reasonable prior notice and at Cempra’s expense, to periodically inspect the Supplier’s or Supplier Agent’s respective
facility(ies), technical, quality assurance and quality control records, and associated business functions relating specifically to the supply of Supplied API to be provided pursuant to this Agreement, during normal business hours, subject to
Section 13 of this Agreement. 
 12. Technical Representatives. Each party shall designate a suitably skilled
technical representative, who shall be available for consultation and discussion with respect to regulatory compliance, QA/QC processes and procedures, manufacturing issues, and technology transfer, including but not limited to as needed to enable
and assist (i) in enabling and qualifying additional sites/suppliers for the manufacture of Supplied API in accordance with all legal and regulatory requirements, as may be required pursuant to Section 10.1, or (ii) Cempra’s
efforts to maintain and/or obtain Product Approvals for Products, including but not limited to such approvals as may be necessary for marketing and selling Products (1) in additional formulations or dosage strengths or (2) for additional
indications. 
 13. Confidential Information. 
 13.1 All technical, business, regulatory, and marketing information of either Supplier, Supplier Agent or Cempra provided by one party (in such a case the “Disclosing Party”) to
another party (the “Receiving Party”), including but not limited to that information of Cempra concerning Supplied API, Products, Cempra Intellectual Property, and all information generated in the course of the
Supplier’s and Supplier Agent’s performance under this Agreement or which otherwise concerns Cempra Intellectual Property or Cempra Products, shall be deemed to be “Confidential Information”. Any Receiving Party
agrees to treat any Confidential Information as such, according the Confidential Information the same protections as their own proprietary and confidential information of a similar nature, which shall be no less than reasonable level of such
protection. Any Receiving Party agrees that they shall not disclose Confidential Information to any third party or use any such Confidential Information for any purpose other than for the purposes of fulfilling its obligations under this Agreement.

  
 12 

 13.2 Nothing in this Section 13 shall be construed to prevent a Receiving Party from:

 (a) disclosing Confidential Information to a Regulatory Authority as necessary in connection with its obligations under this
Agreement; or 
 (b) disclosing such information as is required by law or judicial order to be disclosed; 

provided that, in either case such Receiving Party (i) provides advance written notice of such disclosure as soon as reasonably practicable,
(ii) assists Disclosing Party, as reasonably requested by Disclosing Party, in seeking or obtaining confidential or protective treatment of such information, and (iii) minimizes the extent of such disclosure to the extent legally
permissible. 
 13.3 Each party’s confidentiality obligations of this Section 13 shall not extend to information
which: 
 (a) is or becomes known to the public through no fault or action by any Receiving Party; or 

(b) is disclosed to any Receiving Party without restriction on disclosure by a third party not under an obligation of secrecy to
Disclosing Party. 
 13.4 Each party acknowledges and agrees that (i) their obligations under this Section 13 are
necessary and reasonable to protect Disclosing Party and their business, (ii) any violation of these provisions could cause irreparable injury to Disclosing Party for which money damages would be inadequate, and (iii) Disclosing Party
shall be entitled to injunctive relief against the threatened breach of the provisions of this Section 13 without the necessity of proving actual damages. The parties agree to cooperate with respect to requests for confidential treatment to be
submitted to any securities exchange with respect to certain portions of this Agreement. 
 14. Intellectual Property.
All materials, documents, information, and deliverables of any kind supplied to Cempra from either Supplier or Supplier Agent—other than any drug master file, which shall remain the property of Supplier—or generated by either Supplier or
Supplier Agent as a result of the services performed hereunder or access to or knowledge of Cempra Confidential Information shall be the sole and exclusive property of Cempra. 
 15. Termination by Supplier. 
 15.1 If Cempra should materially breach this
Agreement, Supplier shall have the right to terminate this Agreement by written notice to Cempra (given within [*] ([*]) [*] of the initial notice of breach) if Cempra has failed to cure any such breach within [*] ([*]) [*] of Cempra’s receipt
of written notice from the Supplier describing such breach. 
 15.2 Supplier shall have the right to cancel and terminate this
Agreement immediately by written notice to the Cempra in the event Cempra is generally unable to meet its debts when due, or makes a general assignment for the benefit of its creditors, or there shall have been appointed a receiver, 

 
  

	[*]	 Confidential treatment requested; certain information omitted and filed separately with the SEC.

  
 13 

 
trustee or other custodian for Cempra for or a substantial part of its assets, or any case or proceeding shall have been commenced or other action taken by or against Cempra in bankruptcy or
seeking the reorganization, liquidation, dissolution or winding-up of Cempra or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law, and any such event shall have continued for [*] ([*]) [*] undismissed,
unstayed, unbonded and undischarged. 
 16. Termination by Cempra. 

16.1 If either Supplier or Supplier Agent should materially breach this Agreement, Cempra shall have the right to terminate this Agreement
by written notice to Supplier and Supplier Agent (given within [*] ([*]) [*] of the initial notice of breach) if the breaching Supplier has failed to cure any such breach within [*] ([*]) [*] of Supplier’s receipt of written notice from Cempra
describing such breach. 
 16.2 In the event (i) Cempra determines, in its discretion, to cease development of Cempra
Products prior to FDA approval thereof (e.g. due to financial, health, safety, or other business reasons) or (ii) FDA approval of the marketing and sale of the initial Cempra Product is not obtained by [*]. 

16.3 Cempra shall have the right to cancel and terminate this Agreement immediately by written notice to the Supplier and Supplier Agent
in the event either Supplier or Supplier Agent is generally unable to meet its debts when due, or makes a general assignment for the benefit of its creditors, or there shall have been appointed a receiver, trustee or other custodian for either
Supplier or Supplier Agent for or a substantial part of their assets, or any case or proceeding shall have been commenced or other action taken by or against either Supplier or Supplier Agent in bankruptcy or seeking the reorganization, liquidation,
dissolution or winding-up of such Supplier or Supplier Agent or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law, and any such event shall have continued for [*] ([*]) [*] undismissed, unstayed, unbonded
and undischarged. 
 17. Effects of Termination. 
 17.1 In the event of termination of this Agreement, Cempra shall have no further obligation to purchase Supplied API from the Supplier and Supplier Agent, provided that (i) Cempra shall, except in
the event of a termination pursuant to Section 16.1, (a) be obligated to purchase, and Supplier shall be obligated to deliver, any Supplied API ordered by Cempra prior to the date of termination and (b) Cempra shall reimburse Supplier
Agent for the reasonable, documented, noncancelable cost of any raw materials reasonably purchased by Supplier for purposes of fulfilling Cempra’s reasonably anticipated future Orders of Supplied API to the extent expressed in the most recent
Forecast, except to the extent such raw materials may reasonably be used for Supplier’s business activities beyond the performance of this Agreement, (ii) Cempra shall, in the event of a termination pursuant to Section 16.1, have the
option, upon written notice to Supplier and Supplier Agent given in Cempra’s sole discretion, to cause the Supplier to satisfy any Orders to the extent outstanding and unfulfilled as of the effective date of such termination (provided that
Cempra’s payment obligations—and Supplier’s obligations with respect to nonconforming or defective Supplied API—shall apply with respect to such Orders). 

 
  

	[*]	Confidential treatment requested; certain information omitted and filed separately with the SEC. 

  
 14 

 17.2 Any termination or cancellation under any provision of this Agreement shall not relieve
Cempra of its obligation to pay any amounts due or owing at the time of such cancellation, expiration, or termination. 
 17.3
In the event of termination of this Agreement by Cempra pursuant to Section 16.1 or 16.3 in connection with Supplier’s inability or refusal to manufacture or supply Supplied API to Cempra, including, but not limited to, in the case of a
sale or assignment of the assets related to the production of Supplied API to a third party, Supplier or such third party assignee shall provide to Cempra reasonable technical assistance and documentation to enable a third party to manufacture and
supply Supplied API to Cempra, including for such purpose, but not limited to, the transfer of the techniques, methods, materials and processes required to produce Fusidic Acid. 

18. Waiver. It is agreed that no waiver by either party hereto of any breach or default of any of the covenants or agreements
herein set forth shall be deemed a waiver as to any subsequent and/or similar breach or default. 
 19. Assignments. No
party may without written approval of the other parties, such approval not to be unreasonably withheld, assign this Agreement or transfer its interest or any part thereof under this Agreement to any third party, provided that Cempra shall be
entitled, without the Supplier’s or Supplier Agent’s prior written consent, to assign this Agreement to any affiliate of Cempra or to any other third party in the event of Cempra’s merger, sale, consolidation, reorganization, or sale
or transfer of the portion of its business or assets relating to Products. 
 20. Insurance. 

20.1 Cempra. Prior to administering any Product incorporating any Supplied API supplied hereunder to human subjects, Cempra shall
obtain comprehensive general liability insurance and clinical trials insurance coverage with reputable and financially secure insurance carrier(s) covering, in a commercially reasonable fashion, such risks as are reasonably appropriate to sound
business judgment and Cempra’s obligations and activities contemplated by this Agreement. At a Supplier’s written request, Cempra shall furnish a Certificate of Insurance evidencing such coverage. 

20.2 Suppliers. Each of Supplier and Supplier Agent shall maintain comprehensive general liability insurance and products
liability insurance coverage with reputable and financially secure insurance carrier(s) covering, in a commercially reasonable fashion, such risks as are reasonably appropriate to sound business judgment and their obligations and activities
contemplated by this Agreement. At Cempra’s written request, each of Supplier and Supplier Agent shall furnish a Certificate of Insurance evidencing such coverage. 
 21. Independent Contractors. It is understood that the parties hereto are independent contractors and engage in the operation of their own respective businesses and no party is to be considered the
agent of the other party for any purpose whatsoever and no party has any authority to enter into any contract or assume any obligation for the other parties or to make any warranty or representation on behalf of the other party(ies). Each party
shall be fully responsible for its own employees and consultants, and the employees of one party shall not be deemed to be employees of either other party for any purpose whatsoever. 

  
 15 

 22. Representations and Warranties. Each party (the “Representing
Party”) hereby represents and warrants to the other parties that as of the Effective Date and any period otherwise indicated below, the following statements are true and correct: 

(a) It is duly organized and validly existing under the laws of the jurisdiction of its formation noted in the preamble, and has the
power and authority to enter into and perform this Agreement. 
 (b) All corporate action on the part of the Representing Party
necessary for the authorization, execution and delivery of this Agreement and for the performance of all of its obligations hereunder has been taken, and this Agreement, when fully executed and delivered, shall constitute a valid, legally binding
and enforceable obligation of the Representing Party. 
 (c) No consent, authorization, license, permit, registration or
approval of, or exemption or other action by, any governmental authority, or any other third party, is required in connection with the Representing Party’s execution, delivery and performance of this Agreement or, if any such consent is
required, the Representing Party has satisfied any applicable requirements. 
 (d) There are no outstanding written or oral
agreements binding on the Representing Party or its assets that conflict with this Agreement or restrict it from entering into this Agreement. This Agreement is enforceable against such party in accordance with the terms of this Agreement, subject
to the effect of bankruptcy, insolvency, or similar laws affecting the rights and remedies of creditors generally and the effects of general principles of equity (whether applied by a court of law or equity) and the effect of public policy. There
are no actions, suits or proceedings pending or, to the Representing Party’s knowledge, threatened, against the Representing Party before any governmental authority which question its right to enter into or perform this Agreement, or which
question the validity of this Agreement. 
 23. Miscellaneous. 

23.1 Governing Law; Dispute Resolution. The validity, construction and enforceability of this Agreement and the resolution of
disputes arising out of and relating to this Agreement and all related agreements, collectively or separately, shall be governed by and construed in accordance with the laws of the State of New York without regard to conflicts of laws or choice of
law provisions thereof and without regard to the United Nations Convention on Contracts for the International Sale of Goods. The parties shall attempt to resolve all disputes between the parties arising out of or relating to this Agreement amicably
through good faith discussions upon the written request of any party. In the event that any such dispute cannot be resolved thereby within a period of [*] ([*]) [*] after such notice has been given (the last day of such [*] ([*]) [*] period being
herein referred to as the “Arbitration Date”), such dispute shall be finally settled by binding arbitration in New York, New York, and using the English language in accordance with the JAMS International Arbitration Rules
then in effect (the “Rules”). Arbitration shall be commenced by filing a Request for Arbitration in accordance with the Rules within [*] ([*]) [*] of the Arbitration Date. A party’s failure to timely file a Request for
Arbitration in accordance with this Section 23.1 shall constitute a waiver and release of the claim or dispute at issue. Following the filing of the Request for Arbitration, the parties shall attempt to mutually agree on one or 

 
  

	[*]	 Confidential treatment requested; certain information omitted and filed separately with the SEC.

  
 16 

 
more commercial arbitrator(s) with substantial experience in resolving complex commercial contract disputes in the pharmaceutical industry, who may or may not be selected from the appropriate
list of JAMS arbitrators. If the parties cannot agree upon the number and identity of the arbitrators within [*] ([*]) [*] following the filing of the Request for Arbitration, then a single arbitrator shall be selected on an expedited basis in
accordance with the Rules, provided that any arbitrator so selected shall have substantial experience in resolving complex commercial contract disputes in the pharmaceutical industry. The arbitrator(s) shall have the authority to grant specific
performance and to allocate between the parties the costs of arbitration (including service fees, arbitrator fees and all other fees related to the arbitration) in such equitable manner as the arbitrator(s) may determine. The prevailing party in the
arbitration shall be entitled to receive reimbursement of its reasonable expenses (including reasonable attorneys’ fees, expert witness fees and all other expenses) incurred in connection therewith. Judgment upon the award so rendered may be
entered in a court having jurisdiction or application may be made to such court for judicial acceptance of any award and an order of enforcement, as the case may be. Notwithstanding the foregoing, each party shall have the right to institute an
action in a court of proper jurisdiction for preliminary injunctive relief pending a final decision by the arbitrator(s), provided that a permanent injunction and damages shall only be awarded by the arbitrator(s). In any action or proceeding to
enforce rights under this Agreement, the prevailing party shall be entitled to recover costs and attorneys’ fees. For all purposes of this Section 23.1, the parties consent to exclusive jurisdiction and venue in the United States federal
courts located in New York, New York. For the avoidance of doubt, the validity, construction, and enforceability of this Agreement and the resolution of disputes arising out of and relating to this Agreement and any related agreements, collectively
or separately, shall be governed solely by this Section 23.1. 
 23.2 Notices. Any and all notices given under this
Agreement shall be in writing and to the respective parties at the following addresses by confirmed facsimile or express courier: 
 If to Ercros: 
 Ercros S.A. 

Paseo del Deleite, s/n 
 28300 Aranjuez (Madrid) 
 Spain 

If to Gyma: 

Gyma Laboratories of America, Inc. 
 135 Cantiague Rock Road 
 Westbury, New York 11590 

USA 
  

 

	[*]	Confidential treatment requested; certain information omitted and filed separately with the SEC. 

  
 17 

 If to Cempra: 
 CEM-102 Pharmaceuticals, Inc. 
 Building Four Quadrangle 

6340 Quadrangle Drive, Suite 100 
 Chapel Hill, North Carolina 27517 
 USA 

Attn: Chief Executive Officer 
 Fax: (919) 313-6620 
 or to such other addresses as may be subsequently furnished by one
party to the other in writing. Any such notice if given by facsimile or express courier shall be deemed to have been given on the day following the dispatch. 
 23.3 Severability. In the event one or more terms of this Agreement are declared by any individual or competent authority to be void, voidable, illegal or otherwise unenforceable, the remaining
provisions of this Agreement shall remain in full force and effect. The invalid or unenforceable part or provision shall be replaced with a provision which accomplishes, to the extent possible, the original business purpose of such invalid or
unenforceable part or provision in a commercially reasonable, valid and enforceable manner, and the remainder of this Agreement shall remain binding upon the parties hereto. The parties hereto shall negotiate in good faith to modify this Agreement,
but only to the extent necessary to make the terms of this Agreement valid and enforceable, having full regard for all applicable laws and the intent and purposes of the parties entering into this Agreement. 

23.4 Complete Agreement. This Agreement, including the Exhibits, whether appended at the time of execution of this Agreement or
later, as provided herein constitutes the entire Agreement between parties hereto relating to the subject matter hereof, and this Agreement may not be varied except by an instrument in writing signed by each party hereto by a duly authorized officer
or representative; provided, that, Cempra and Supplier may amend or waive any portion of the Agreement without the consent of Supplier Agent so long as such amendment or waiver does not modify the obligations and responsibilities of Supplier Agent.

 23.5 Force Majeure. Neither party shall be liable in damages for, nor shall this Agreement be terminable or cancelable
by reason of, any delay or default in such party’s performance hereunder if such default or delay is caused by events beyond such party’s reasonable control including, but not limited to, acts of God, any regulation or law imposed
following the Effective Date or other action or failure to act of any government or agency thereof, war or insurrection, civil commotion, destruction of production facilities or materials by earthquake, fire, flood or storm, labor strikes, epidemic,
or failure of public utilities or common carriers; provided however, that the party seeking relief hereunder shall immediately notify the other party of such cause(s) beyond such party’s reasonable control. The party which may invoke this
Section 23.5 shall use all reasonable endeavors to reinstate its ongoing obligations to the other. If the cause(s) shall continue unabated for sixty (60) days then both parties shall meet to discuss and negotiate in good faith what
modifications to this Agreement, if any, should result from this force majeure. 

  
 18 

 23.6 Counterparts. This Agreement may be executed in one or more counterparts, all of
which shall comprise the original instrument 
 23.7 Survival. The provisions of Sections 1, 3, 5.4, 5.5, 5.6, 5.7, 6.1,
6.3, 6.4, 6.5, 6.6, 6.8, 6.9, 6.10, 7.2, 9, 11, 12, 13, 14, 17, 18, 19, 21, and 23 shall survive the expiration or termination of this Agreement. 
 23.8 Publicity. Save as required by law, no public announcement or circular in connection with the subject matter of this Agreement shall be made by or on behalf of any party thereto without the
prior written approval of the other parties, such approval not to be unreasonably withheld. 
 [Signature page to follow.]

  
 19 

 IN WITNESS WHEREOF, Ercros, Gyma, and Cempra have executed this Manufacturing Agreement by
their respective officers hereunto duly authorized, the day and year first above written. 
  

									
	ERCROS S.A.	 		 	CEM-102 PHARMACEUTICALS, INC.
					
	By:	 	 /s/ M. Carmen Cruzado
	 		 	By:	 	 /s/ Prabhavathi Fernandes PhD

	Name:	 	M. Carmen Cruzado	 		 	Name:	 	Prabhavathi Fernandes PhD
	Title:	 	Manager	 		 	Title:	 	President & CEO

  

					
	GYMA LABORATORIES OF AMERICA, INC.	 	
			
	By:	 	 /s/ Hal Lipton
	 	
	Name:	 	Hal Lipton	 	
	Title:	 	President	 	

 Signature page to Supply Agreement 

 Exhibit A 

Cempra Specifications 
 [NOTE: To include particle size to be determined following signing.] 
 Sodium
Fusidate 
 

 
 Chemical Formula: C31H47
NaO6 
       Molecular Weight: 538.69 

[NOTE: Additional specifications to be attached.] 
 Fusidic Acid 
 

 
 Chemical Formula: C31H48
O6 
       Molecular Weight: 516.71 

[*] 
 [NOTE: Additional specifications
to be attached.] 
  
  

	[*]	Confidential treatment requested; certain information omitted and filed separately with the SEC.Exhibit 10.2

 Exhibit 10.2 
 INDEMNIFICATION AGREEMENT 
 THIS INDEMNIFICATION AGREEMENT
(“Agreement”) is made and entered into as of the          day of
                        , 20         , by and between Wheeler
Real Estate Investment Trust, Inc., a Maryland corporation (the “Company”), and                         
(“Indemnitee”). 
 WHEREAS, at the request of the Company, Indemnitee currently serves as [a director] [and] [an
officer] of the Company and may, therefore, be subjected to claims, suits or proceedings arising as a result of [his][her] service; and 
 WHEREAS, as an inducement to Indemnitee to serve or continue to serve as [a director] [and] [an officer], the Company has agreed to indemnify and to advance expenses and costs incurred by
Indemnitee in connection with any such claims, suits or proceedings, to the maximum extent permitted by law; and 
 WHEREAS, the
parties by this Agreement desire to set forth their agreement regarding indemnification and advance of expenses; 
 NOW,
THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows: 
 Section 1. Definitions. For purposes of this Agreement: 
 (a)
“Change in Control” means a change in control of the Company occurring after the Effective Date of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any
similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), whether or not the Company is then subject to such reporting requirement; provided, however, that,
without limitation, such a Change in Control shall be deemed to have occurred if, after the Effective Date (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 15% or more of the combined voting power of all of the Company’s then-outstanding securities entitled to vote
generally in the election of directors without the prior approval of at least two-thirds of the members of the Board of Directors in office immediately prior to such person’s attaining such percentage interest; (ii) the Company is a party
to a merger, consolidation, sale of assets, plan of liquidation or other reorganization not approved by at least two-thirds of the members of the Board of Directors then in office, as a consequence of which members of the Board of Directors in
office immediately prior to such transaction or event constitute less than a majority of the Board of Directors thereafter; or (iii) at any time, a majority of the members of the Board of Directors are not individuals (A) who were
directors as of the Effective Date or (B) whose election by the Board of Directors or nomination for election by the Company’s stockholders was approved by the affirmative vote of at least two-thirds of the directors then in office who
were directors as of the Effective Date or whose election for nomination for election was previously so approved. 
 (b)
“Corporate Status” means the status of a person as a present or former director, officer, employee or agent of the Company or as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other
foreign or domestic corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of the Company. As a clarification and
without limiting the circumstances in which Indemnitee may be serving at the request of the Company, service by Indemnitee shall be deemed to be at the request of the Company if Indemnitee serves or served as a director, trustee, officer, partner,
manager, managing member, fiduciary, employee or agent of any corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise (i) of which a majority of the voting power or equity interest is
owned directly or indirectly by the Company or (ii) the management of which is controlled directly or indirectly by the Company. 
 (c) “Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification and/or advance of Expenses is sought by
Indemnitee. 
 (d) “Effective Date” means the date set forth in the first preamble of this Agreement. 

 (e) “Expenses” means any and all reasonable and out-of-pocket attorneys’ fees
and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, federal, state, local or foreign taxes imposed on
Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties and any other disbursements or expenses incurred in connection with prosecuting, defending, preparing to prosecute or
defend, investigating, being or preparing to be a witness in or otherwise participating in a Proceeding. Expenses shall also include Expenses incurred in connection with any appeal resulting from any Proceeding including, without limitation, the
premium, security for and other costs relating to any cost bond, supersedeas bond or other appeal bond or its equivalent. 
 (f)
“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any
matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement or of other indemnitees under similar indemnification agreements), or (ii) any other party to or participant or witness in the
Proceeding giving rise to a claim for indemnification or advance of Expenses hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct
then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 
 (g) “Proceeding” means any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other
proceeding, whether brought by or in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims), criminal, administrative or investigative (formal or informal) nature, including any appeal
therefrom, except one pending or completed on or before the Effective Date, unless otherwise specifically agreed in writing by the Company and Indemnitee. If Indemnitee reasonably believes that a given situation may lead to or culminate in the
institution of a Proceeding, such situation shall also be considered a Proceeding. 
 Section 2. Services by
Indemnitee. Indemnitee [will serve][serves] as [a director] [and] [an officer] of the Company. However, this Agreement shall not impose any independent obligation on Indemnitee or the Company to continue Indemnitee’s service
to the Company. This Agreement shall not be deemed an employment contract between the Company (or any other entity) and Indemnitee. 
 Section 3. General. The Company shall indemnify, and advance Expenses to, Indemnitee (a) as provided in this Agreement and (b) otherwise to the maximum extent permitted by Maryland
law in effect on the Effective Date and as amended from time to time; provided, however, that no change in Maryland law shall have the effect of reducing the benefits available to Indemnitee hereunder based on Maryland law as in effect on the
Effective Date. The rights of Indemnitee provided in this Section 3 shall include, without limitation, the rights set forth in the other sections of this Agreement, including any additional indemnification permitted by Section 2-418(g) of
the Maryland General Corporation Law (the “MGCL”). 
 Section 4. Standard for Indemnification. If, by
reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be, made a party to any Proceeding, the Company shall indemnify Indemnitee against all judgments, penalties, fines and amounts paid in settlement and all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any such Proceeding unless it is established that (a) the act or omission of Indemnitee was material to the matter giving rise to the Proceeding
and (i) was committed in bad faith or (ii) was the result of active and deliberate dishonesty, (b) Indemnitee actually received an improper personal benefit in money, property or services or (c) in the case of any criminal
Proceeding, Indemnitee had reasonable cause to believe that [his][her] conduct was unlawful. 
 Section 5.
Certain Limits on Indemnification. Notwithstanding any other provision of this Agreement (other than Section 6), Indemnitee shall not be entitled to: 
 (a) indemnification hereunder if the Proceeding was one by or in the right of the Company and Indemnitee is adjudged to be liable to the Company; 

  
 2 

 (b) indemnification hereunder if Indemnitee is adjudged to be liable on the basis that
personal benefit was improperly received in any Proceeding charging improper personal benefit to Indemnitee, whether or not involving action in the Indemnitee’s Corporate Status; or 

(c) indemnification or advance of Expenses hereunder if the Proceeding was brought by Indemnitee, unless: (i) the Proceeding was
brought to enforce indemnification under this Agreement, and then only to the extent in accordance with and as authorized by Section 12 of this Agreement, or (ii) the Company’s charter or Bylaws, a resolution of the stockholders
entitled to vote generally in the election of directors or of the Board of Directors or an agreement approved by the Board of Directors to which the Company is a party expressly provide otherwise. 

Section 6. Court-Ordered Indemnification. Notwithstanding any other provision of this Agreement, a court of appropriate
jurisdiction, upon application of Indemnitee and such notice as the court shall require, may order indemnification of Indemnitee by the Company in the following circumstances: 
 (a) if such court determines that Indemnitee is entitled to reimbursement under Section 2-418(d)(1) of the MGCL, the court shall order indemnification, in which case Indemnitee shall be entitled to
recover the Expenses of securing such reimbursement; or 
 (b) if such court determines that Indemnitee is fairly and reasonably
entitled to indemnification in view of all the relevant circumstances, whether or not Indemnitee (i) has met the standards of conduct set forth in Section 2-418(b) of the MGCL or (ii) has been adjudged liable for receipt of an
improper personal benefit under Section 2-418(c) of the MGCL, the court may order such indemnification as the court shall deem proper. However, indemnification with respect to any Proceeding by or in the right of the Company or in which
liability shall have been adjudged in the circumstances described in Section 2-418(c) of the MGCL shall be limited to Expenses. 
 Section 7. Indemnification for Expenses of an Indemnitee Who is Wholly or Partially Successful. Notwithstanding any other provision of this Agreement, and without limiting any such provision,
to the extent that Indemnitee was or is, by reason of [his][her] Corporate Status, made a party to (or otherwise becomes a participant in) any Proceeding and is successful, on the merits or otherwise, in the defense of such Proceeding,
Indemnitee shall be indemnified for all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or
otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee under this Section 7 for all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection with each such claim, issue or matter, allocated on a reasonable and proportionate basis. For purposes of this Section 7 and, without limitation, the termination of any claim, issue or matter in such a Proceeding by
dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

Section 8. Advance of Expenses for Indemnitee. If, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is
threatened to be, made a party to any Proceeding, the Company shall, without requiring a preliminary determination of Indemnitee’s ultimate entitlement to indemnification hereunder, advance all reasonable Expenses incurred by or on behalf of
Indemnitee in connection with such Proceeding within ten days after the receipt by the Company of a statement or statements requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such
statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by a written affirmation by Indemnitee of Indemnitee’s good faith belief that the standard of conduct
necessary for indemnification by the Company as authorized by law and by this Agreement has been met and a written undertaking by or on behalf of Indemnitee, in substantially the form attached hereto as Exhibit A or in such form as may be
required under applicable law as in effect at the time of the execution thereof, to reimburse the portion of any Expenses advanced to Indemnitee relating to claims, issues or matters in the Proceeding as to which it shall ultimately be established
that the standard of conduct has not been met by Indemnitee and which have not been successfully resolved as described in Section 7 of this Agreement. To the extent that Expenses advanced to Indemnitee do not relate to a specific claim, issue
or matter in the Proceeding, such Expenses shall be allocated on a reasonable and proportionate basis. The undertaking required by this Section 8 shall be an unlimited general obligation by or on behalf of Indemnitee and shall be accepted
without reference to Indemnitee’s financial ability to repay such advanced Expenses and without any requirement to post security therefor. 

  
 3 

 Section 9. Indemnification and Advance of Expenses as a Witness or Other
Participant. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is or may be, by reason of Indemnitee’s Corporate Status, made a witness or otherwise asked to participate in any Proceeding, whether
instituted by the Company or any other party, and to which Indemnitee is not a party, Indemnitee shall be advanced all reasonable Expenses and indemnified against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection therewith within ten days after the receipt by the Company of a statement or statements requesting any such advance or indemnification from time to time, whether prior to or after final disposition of such Proceeding. Such
statement or statements shall reasonably evidence the Expenses incurred by Indemnitee. 
 Section 10. Procedure for
Determination of Entitlement to Indemnification. 
 (a) To obtain indemnification under this Agreement, Indemnitee shall
submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to
indemnification. Indemnitee may submit one or more such requests from time to time and at such time(s) as Indemnitee deems appropriate in Indemnitee’s sole discretion. The officer of the Company receiving any such request from Indemnitee shall,
promptly upon receipt of such a request for indemnification, advise the Board of Directors in writing that Indemnitee has requested indemnification. 
 (b) Upon written request by Indemnitee for indemnification pursuant to Section 10(a) above, a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall
promptly be made in the specific case: (i) if a Change in Control shall have occurred, by Independent Counsel, in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee, which Independent Counsel shall be
selected by the Indemnitee and approved by the Board of Directors in accordance with Section 2-418(e)(2)(ii) of the MGCL, which approval shall not be unreasonably withheld; or (ii) if a Change in Control shall not have occurred,
(A) by the Board of Directors by a majority vote of a quorum consisting of Disinterested Directors or, if such a quorum cannot be obtained, then by a majority vote of a duly authorized committee of the Board of Directors consisting solely of
one or more Disinterested Directors, (B) if Independent Counsel has been selected by the Board of Directors in accordance with Section 2-418(e)(2)(ii) of the MGCL and approved by the Indemnitee, which approval shall not be unreasonably
withheld, by Independent Counsel, in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee or (C) if so directed by a majority of the members of the Board of Directors, by the stockholders of the Company.
If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect
to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is
reasonably available to Indemnitee and reasonably necessary to such determination in the discretion of the Board of Directors or Independent Counsel if retained pursuant to clause (ii)(B) of this Section 10(b). Any Expenses incurred by
Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company shall indemnify and
hold Indemnitee harmless therefrom. 
 (c) The Company shall pay the reasonable fees and expenses of Independent Counsel, if one
is appointed. 
 Section 11. Presumptions and Effect of Certain Proceedings. 

(a) In making any determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such
determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 10(a) of this Agreement, and the Company shall have the burden
of proof to overcome that presumption in connection with the making of any determination contrary to that presumption. 
 (b)
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, upon a plea of nolo contendere or its equivalent, or entry of an order of probation prior to

  
 4 

 
judgment, does not create a presumption that Indemnitee did not meet the requisite standard of conduct described herein for indemnification. 

(c) The knowledge and/or actions, or failure to act, of any other director, officer, employee or agent of the Company or any other
director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise shall
not be imputed to Indemnitee for purposes of determining any other right to indemnification under this Agreement. 

Section 12. Remedies of Indemnitee. 
 (a) If (i) a determination is made pursuant to Section 10(b) of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advance of Expenses is not
timely made pursuant to Sections 8 or 9 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10(b) of this Agreement within 60 days after receipt by the Company of the request
for indemnification, (iv) payment of indemnification is not made pursuant to Sections 7 or 9 of this Agreement within ten days after receipt by the Company of a written request therefor, or (v) payment of indemnification pursuant to any
other section of this Agreement or the charter or Bylaws of the Company is not made within ten days after a determination has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication in an appropriate
court located in the State of Maryland, or in any other court of competent jurisdiction, of Indemnitee’s entitlement to such indemnification or advance of Expenses. Alternatively, Indemnitee, at Indemnitee’s option, may seek an award in
arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence a proceeding seeking an adjudication or an award in arbitration within 180 days
following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 12(a); provided, however, that the foregoing clause shall not apply to a proceeding brought by Indemnitee to enforce
[his][her] rights under Section 7 of this Agreement. Except as set forth herein, the provisions of Maryland law (without regard to its conflicts of laws rules) shall apply to any such arbitration. The Company shall not oppose
Indemnitee’s right to seek any such adjudication or award in arbitration. 
 (b) In any judicial proceeding or arbitration
commenced pursuant to this Section 12, Indemnitee shall be presumed to be entitled to indemnification or advance of Expenses, as the case may be, under this Agreement and the Company shall have the burden of proving that Indemnitee is not
entitled to indemnification or advance of Expenses, as the case may be. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 12, Indemnitee shall not be required to reimburse the Company for any advances
pursuant to Section 8 of this Agreement until a final determination is made with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed). The Company shall, to the fullest
extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 12 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall
stipulate in any such court or before any such arbitrator that the Company is bound by all of the provisions of this Agreement. 

(c) If a determination shall have been made pursuant to Section 10(b) of this Agreement that Indemnitee is entitled to
indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12, absent a misstatement by Indemnitee of a material fact, or an omission of a material fact
necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification. 

(d) In the event that Indemnitee is successful in seeking, pursuant to this Section 12, a judicial adjudication of or an award in
arbitration to enforce Indemnitee’s rights under, or to recover damages for breach of, this Agreement, Indemnitee shall be entitled to recover from the Company, and shall be indemnified by the Company for, any and all Expenses actually and
reasonably incurred by him in such judicial adjudication or arbitration. If it shall be determined in such judicial adjudication or arbitration that Indemnitee is entitled to receive part but not all of the indemnification or advance of Expenses
sought, the Expenses incurred by Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated. 
 (e) Interest shall be paid by the Company to Indemnitee at the maximum rate allowed to be charged for judgments under the Courts and Judicial Proceedings Article of the Annotated Code of Maryland for
amounts which 

  
 5 

 
the Company pays or is obligated to pay for the period (i) commencing with either the tenth day after the date on which the Company was requested to advance Expenses in accordance with
Sections 8 or 9 of this Agreement or the 60th day after
the date on which the Company was requested to make the determination of entitlement to indemnification under Section 10(b) of this Agreement, as applicable, and (ii) ending on the date such payment is made to Indemnitee by the Company.

 Section 13. Defense of the Underlying Proceeding. 

(a) Indemnitee shall notify the Company promptly in writing upon being served with any summons, citation, subpoena, complaint,
indictment, request or other document relating to any Proceeding which may result in the right to indemnification or the advance of Expenses hereunder and shall include with such notice a description of the nature of the Proceeding and a summary of
the facts underlying the Proceeding. The failure to give any such notice shall not disqualify Indemnitee from the right, or otherwise affect in any manner any right of Indemnitee, to indemnification or the advance of Expenses under this Agreement
unless the Company’s ability to defend in such Proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced thereby, and then only to the extent the Company is thereby actually so prejudiced. 

(b) Subject to the provisions of the last sentence of this Section 13(b) and of Section 13(c) below, the Company shall have the
right to defend Indemnitee in any Proceeding which may give rise to indemnification hereunder; provided, however, that the Company shall notify Indemnitee of any such decision to defend within 15 calendar days following receipt of notice of any such
Proceeding under Section 13(a) above. The Company shall not, without the prior written consent of Indemnitee, which shall not be unreasonably withheld or delayed, consent to the entry of any judgment against Indemnitee or enter into any
settlement or compromise which (i) includes an admission of fault of Indemnitee, (ii) does not include, as an unconditional term thereof, the full release of Indemnitee from all liability in respect of such Proceeding, which release shall
be in form and substance reasonably satisfactory to Indemnitee or (iii) would impose any Expense, judgment, fine, penalty or limitation on Indemnitee. This Section 13(b) shall not apply to a Proceeding brought by Indemnitee under
Section 12 of this Agreement. 
 (c) Notwithstanding the provisions of Section 13(b) above, if in a Proceeding to
which Indemnitee is a party by reason of Indemnitee’s Corporate Status, (i) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld, that Indemnitee may
have separate defenses or counterclaims to assert with respect to any issue which may not be consistent with other defendants in such Proceeding, (ii) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company,
which approval shall not be unreasonably withheld, that an actual or apparent conflict of interest or potential conflict of interest exists between Indemnitee and the Company, or (iii) if the Company fails to assume the defense of such
Proceeding in a timely manner, Indemnitee shall be entitled to be represented by separate legal counsel of Indemnitee’s choice, subject to the prior approval of the Company, which approval shall not be unreasonably withheld, at the expense of
the Company. In addition, if the Company fails to comply with any of its obligations under this Agreement or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any
Proceeding to deny or to recover from Indemnitee the benefits intended to be provided to Indemnitee hereunder, Indemnitee shall have the right to retain counsel of Indemnitee’s choice, subject to the prior approval of the Company, which
approval shall not be unreasonably withheld, at the expense of the Company (subject to Section 12(d) of this Agreement), to represent Indemnitee in connection with any such matter. 

Section 14. Non-Exclusivity; Survival of Rights; Subrogation. 

(a) The rights of indemnification and advance of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights
to which Indemnitee may at any time be entitled under applicable law, the charter or Bylaws of the Company, any agreement or a resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors, or
otherwise. Unless consented to in writing by Indemnitee, no amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted
by such Indemnitee in [his][her] Corporate Status prior to such amendment, alteration or repeal, regardless of whether a claim with respect to such action or inaction is raised prior or subsequent to such amendment, alteration or repeal. No
right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right or remedy shall be 

  
 6 

 
cumulative and in addition to every other right or remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion of any right or remedy hereunder, or
otherwise, shall not prohibit the concurrent assertion or employment of any other right or remedy. 
 (b) In the event of any
payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 
 Section 15.
Insurance. The Company will use its reasonable best efforts to acquire directors and officers liability insurance, on terms and conditions deemed appropriate by the Board of Directors, with the advice of counsel, covering Indemnitee or any
claim made against Indemnitee by reason of [his][her] Corporate Status and covering the Company for any indemnification or advance of Expenses made by the Company to Indemnitee for any claims made against Indemnitee by reason of
[his][her] Corporate Status. Without in any way limiting any other obligation under this Agreement, the Company shall indemnify Indemnitee for any payment by Indemnitee arising out of the amount of any deductible or retention and the amount
of any excess of the aggregate of all judgments, penalties, fines, settlements and Expenses incurred by Indemnitee in connection with a Proceeding over the coverage of any insurance referred to in the previous sentence. The purchase, establishment
and maintenance of any such insurance shall not in any way limit or affect the rights or obligations of the Company or Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement by the
Company and the Indemnitee shall not in any way limit or affect the rights or obligations of the Company under any such insurance policies. If, at the time the Company receives notice from any source of a Proceeding to which Indemnitee is a party or
a participant (as a witness or otherwise) the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the respective
policies. 
 Section 16. Coordination of Payments. The Company shall not be liable under this Agreement to make any
payment of amounts otherwise indemnifiable or payable or reimbursable as Expenses hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. 

Section 17. Reports to Stockholders. To the extent required by the MGCL, the Company shall report in writing to its
stockholders the payment of any amounts for indemnification of, or advance of Expenses to, Indemnitee under this Agreement arising out of a Proceeding by or in the right of the Company with the notice of the meeting of stockholders of the Company
next following the date of the payment of any such indemnification or advance of Expenses or prior to such meeting. 

Section 18. Duration of Agreement; Binding Effect. 
 (a) This Agreement shall continue until and terminate on the later of (i) the date that Indemnitee shall have ceased to serve as a director, officer, employee or agent of the Company or as
a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, real estate investment trust, partnership, limited liability company, joint venture, trust,
employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of the Company and (ii) the date that Indemnitee is no longer subject to any actual or possible Proceeding (including any rights of
appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 12 of this Agreement). 
 (b) The
indemnification and advance of Expenses provided by, or granted pursuant to, this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by
purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, trustee,
officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was
serving in such capacity at the request of the Company, and shall inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors and administrators and other legal representatives. 

  
 7 

 (c) The Company shall require and cause any successor (whether direct or indirect by
purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to
perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. (d) The Company and Indemnitee agree that a monetary remedy for breach of this Agreement, at
some later date, may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto agree that Indemnitee may enforce this Agreement by seeking
injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining
any other relief to which Indemnitee may be entitled. Indemnitee shall further be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the
necessity of posting bonds or other undertakings in connection therewith. The Company acknowledges that, in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a court, and the Company hereby waives any such requirement
of such a bond or undertaking. 
 Section 19. Severability. If any provision or provisions of this Agreement shall
be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or
sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the
fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest
extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself
invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby. 
 Section 20.
Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. One such counterpart
signed by the party against whom enforceability is sought shall be sufficient to evidence the existence of this Agreement. 

Section 21. Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be
deemed to constitute part of this Agreement or to affect the construction thereof. 
 Section 22. Modification and
Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
 Section 23.
Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication
shall have been directed, on the day of such delivery, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed: 

(a) If to Indemnitee, to the address set forth on the signature page hereto. 

(b) If to the Company, to: 
 Wheeler Real Estate Investment Trust, Inc. 
 Riversedge North 

2529 Virginia Beach Blvd., Suite 200 
 Virginia Beach, VA 23452 
 Attn: Secretary 

  
 8 

 or to such other address as may have been furnished in writing to Indemnitee by the Company or to the
Company by Indemnitee, as the case may be. 
 Section 24. Governing Law. This Agreement shall be governed by, and
construed and enforced in accordance with, the laws of the State of Maryland, without regard to its conflicts of laws rules. 

[SIGNATURE PAGE FOLLOWS] 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written. 
  

			
	 WHEELER REAL ESTATE

INVESTMENT TRUST, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	  

INDEMNITEE

	
	  

	 Name:
	 	
	 Address:
	 	

  
 10 

 EXHIBIT A 
 AFFIRMATION AND UNDERTAKING TO REPAY EXPENSES ADVANCED 
 The Board of Directors of Wheeler Real
Estate Investment Trust, Inc. 
 Re: Affirmation and Undertaking 
 Ladies and Gentlemen: 
 This Affirmation and Undertaking is being provided
pursuant to that certain Indemnification Agreement dated the          day of
                        , 20         , by and between Wheeler
Real Estate Investment Trust, Inc., a Maryland corporation (the “Company”), and the undersigned Indemnitee (the “Indemnification Agreement”), pursuant to which I am entitled to advance of Expenses in connection with
[Description of Proceeding] (the “Proceeding”). 
 Terms used herein and not otherwise defined shall have the
meanings specified in the Indemnification Agreement. 
 I am subject to the Proceeding by reason of my Corporate Status or by
reason of alleged actions or omissions by me in such capacity. I hereby affirm my good faith belief that at all times, insofar as I was involved as [a director] [an officer] of the Company, in any of the facts or events giving rise to the
Proceeding, I (1) did not act with bad faith or active or deliberate dishonesty, (2) did not receive any improper personal benefit in money, property or services and (3) in the case of any criminal proceeding, had no reasonable cause
to believe that any act or omission by me was unlawful. 
 In consideration of the advance of Expenses by the Company for
reasonable attorneys’ fees and related Expenses incurred by me in connection with the Proceeding (the “Advanced Expenses”), I hereby agree that if, in connection with the Proceeding, it is established that (1) an act or omission
by me was material to the matter giving rise to the Proceeding and (a) was committed in bad faith or (b) was the result of active and deliberate dishonesty or (2) I actually received an improper personal benefit in money, property or
services or (3) in the case of any criminal proceeding, I had reasonable cause to believe that the act or omission was unlawful, then I shall promptly reimburse the portion of the Advanced Expenses relating to the claims, issues or matters in
the Proceeding as to which the foregoing findings have been established. 
 IN WITNESS WHEREOF, I have executed this Affirmation
and Undertaking on this          day of                         
, 20         . 
  
  

			
		 	  

		 	Name:

  
 11

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