Document:

Securities Purchase Agreement

 Exhibit 10.5 

EXECUTION VERSION 

SECURITIES PURCHASE AGREEMENT 

Dated May 15, 2015 

by and between 

HEDGEPATH PHARMACEUTICALS, INC. 

and 
 MAYNE PHARMA
VENTURES PTY LTD 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	  
	 SALE AND PURCHASE OF PURCHASED SECURITIES; CLOSING
	  	 	2	  
			
	 1.1
	 	 Sale and Purchase of Purchased Securities
	  	 	2	  
	 1.2
	 	 Closing
	  	 	2	  
	
	ARTICLE II	  
	 DEFINITIONS
	  	 	3	  
			
	 2.1
	 	 Definitions
	  	 	3	  
	
	ARTICLE III	  
	 REPRESENTATIONS AND WARRANTIES
	  	 	8	  
			
	 3.1
	 	 Representations and Warranties of HPPI
	  	 	8	  
	 3.2
	 	 Representations and Warranties of Mayne Pharma
	  	 	19	  
	
	ARTICLE IV	  
	 CONDITIONS TO CLOSING
	  	 	21	  
			
	 4.1
	 	 Conditions to Mayne Pharma’s Obligations at the Closing
	  	 	21	  
	 4.2
	 	 Conditions to HPPI’s Obligations at the Closing
	  	 	23	  
	
	ARTICLE V	  
	 COVENANTS
	  	 	24	  
			
	 5.1
	 	 Commercially Reasonable Efforts
	  	 	24	  
	 5.2
	 	 Certain Notifications Until Closing
	  	 	24	  
	
	ARTICLE VI	  
	 ADDITIONAL AGREEMENTS
	  	 	24	  
			
	 6.1
	 	 Transfer Restrictions
	  	 	24	  
	 6.2
	 	 Integration
	  	 	25	  
	 6.3
	 	 Securities Laws Disclosure; Publicity
	  	 	25	  
	 6.4
	 	 Shareholder Rights Plan
	  	 	26	  
	 6.5
	 	 Indemnification of Mayne Pharma, Etc
	  	 	26	  
	 6.6
	 	 Use of Proceeds
	  	 	27	  
	 6.7
	 	 Reservation of Common Stock
	  	 	27	  
	 6.8
	 	 Listing of Common Stock
	  	 	27	  
	 6.9
	 	 Certain Transactions and Confidentiality
	  	 	27	  
	 6.10
	 	 Acknowledgment of Dilution
	  	 	28	  
	 6.11
	 	 Equity Incentive Plan
	  	 	28	  
	 6.12
	 	 Registration Rights
	  	 	28	  
	 6.13
	 	 D&O Policy
	  	 	28	  
	 6.14
	 	 Certificate of Amendment to Certificate of Incorporation
	  	 	28	  

  
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 ARTICLE VII 

							
	 MISCELLANEOUS
	  	 	28	  
			
	 7.1
	 	 Termination
	  	 	28	  
	 7.2
	 	 Fees and Expenses
	  	 	29	  
	 7.3
	 	 Entire Agreement
	  	 	29	  
	 7.4
	 	 Notices
	  	 	29	  
	 7.5
	 	 Amendments; Waivers
	  	 	30	  
	 7.6
	 	 Headings
	  	 	30	  
	 7.7
	 	 Successors and Assigns
	  	 	30	  
	 7.8
	 	 No Third-Party Beneficiaries
	  	 	30	  
	 7.9
	 	 Governing Law
	  	 	31	  
	 7.10
	 	 Arbitration of Claims
	  	 	31	  
	 7.11
	 	 Survival
	  	 	31	  
	 7.12
	 	 Execution
	  	 	31	  
	 7.13
	 	 Severability
	  	 	31	  
	 7.14
	 	 Rescission and Withdrawal Right
	  	 	32	  
	 7.15
	 	 Replacement of Securities
	  	 	32	  
	 7.16
	 	 Remedies
	  	 	32	  
	 7.17
	 	 Payment Set Aside
	  	 	32	  
	 7.18
	 	 Saturdays, Sundays, Holidays, etc
	  	 	32	  
	 7.19
	 	 Construction
	  	 	32	  
	 7.20
	 	 WAIVER OF JURY TRIAL
	  	 	33	  

  
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 LIST OF ANNEXES 

 

			
	 ANNEX A:
	  	 FORM OF WARRANT

		
	 ANNEX B:
	  	 DISCLOSURE SCHEDULES

		
	 ANNEX C:
	  	 FORM OF AMENDED AND RESTATED EQUITY HOLDERS AGREEMENT

		
	 ANNEX D:
	  	 FORM OF SECOND AMENDED SUPPLY AGREEMENT

		
	 ANNEX E:
	  	 EHA WAIVER

		
	 ANNEX F:
	  	 SECOND AMENDED AND RESTATED BYLAWS

		
	 ANNEX G:
	  	 REGISTRATION RIGHTS AGREEMENT

		
	 ANNEX H:
	  	 CERTIFICATE OF AMENDMENT TO CERTIFICATE OF INCORPORATION

  
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 SECURITIES PURCHASE AGREEMENT 

THIS SECURITIES PURCHASE AGREEMENT (this “Agreement”) is made and entered into this 15th day of May, 2015 (the
“Signing Date”), by and between MAYNE PHARMA VENTURES PTY LTD, an Australian company ACN 168 896 357 (“Mayne Pharma”) and HEDGEPATH PHARMACEUTICALS, INC., a Delaware corporation
(“HPPI”). 
 RECITALS: 

A. As of the date hereof, HPPI has Three Hundred Forty Million (340,000,000) authorized shares of Common Stock and Ten Million
(10,000,000) authorized shares of Preferred Stock. 
 B. HPPI and Mayne Pharma International Pty. Ltd, an Australian company ACN 007
870 984 and predecessor-in-interest to Mayne Pharma (“MPI”), entered into that certain Supply and License Agreement, dated as of September 3, 2013, as amended, including, without limitation, pursuant to that certain Amendment
No. 1 to Supply and License Agreement and that certain Amendment No. 2 to Supply and License Agreement (collectively, the “Original Supply Agreement”). 

C. MPI later assigned to Mayne Pharma, and Mayne Pharma assumed from MPI, the rights and obligations of MPI under the Original Supply
Agreement. 
 D. Pursuant to the Original Supply Agreement, Mayne Pharma had the right to terminate the Original Supply Agreement if HPPI
did not obtain equity funding of at least Five Million Dollars ($5,000,000), or lesser amount as agreed to by the parties, on or before May 30, 2014 (the “Termination Right”). 

E. The Original Supply Agreement further provided that HPPI was required to issue to Mayne Pharma certain shares of HPPI’s capital stock
so that Mayne Pharma would hold no less than thirty percent (30%) of the capital stock of HPPI on a fully diluted basis after the consummation of certain transactions as contemplated therein. 

F. In consideration for Mayne Pharma not exercising the Termination Right, HPPI agreed to issue to Mayne Pharma, and Mayne Pharma agreed to
purchase from HPPI, in a private placement, Two Hundred Fifty-Eight Thousand Three Hundred Sixty-Three and 280/1,000 (258,363.280) shares of HPPI’s Series A Convertible Preferred Stock (the “Preferred Shares”) and a
warrant to purchase Ten Million Two Hundred Fifty Thousand Five Hundred Sixty-Nine (10,250,569) shares of Common Stock (the “Make-Up Warrant”), pursuant to that certain Securities Purchase Agreement, dated as of June 24,
2014 (the “2014 Purchase Agreement”). 
 G. The Company granted to Mayne Pharma certain registration rights pursuant to
Annex F of the 2014 Purchase Agreement (the “Original Registration Rights Agreement”). 
 H. In connection with the closing
of the transactions contemplated by the 2014 Purchase Agreement, HPPI, Mayne Pharma, HPLLC, Frank E. O’Donnell Jr., M.D. (“FEO”), 

 
and Nicholas J. Virca (“Virca”) entered into that certain Equity Holders Agreement, dated as of June 24, 2014, as extended and amended by that certain letter agreement,
dated November 26, 2014 (the “Equity Holders Agreement”). 
 I. On August 14, 2014, Mayne Pharma exercised its
right to convert all of the Preferred Shares into Eighty-Seven Million Eight Hundred Forty-Three Thousand Eight Hundred Ninety-Seven (87,843,897) shares of Common Stock, and HPLLC exercised its right to convert all of its Preferred Shares into
Eighty-Two Million One Hundred Fifty-Six Thousand Eight Hundred Forty-Two (82,156,842) shares of Common Stock. 
 J. Pursuant to
Section 8.1 of the Equity Holders Agreement, Mayne Pharma has the right to demand the resignation of FEO and/or Virca if HPPI failed or fails to satisfy any of the Performance Goals, including, without limitation, (i) by December 31,
2014, the closing of an equity financing, the gross proceeds of which received by HPPI were at least Five Million Dollars ($5,000,000), and (ii) by January 31, 2015, the commencement of dosing patients in a phase II/III clinical trial for
the treatment of Gorlin’s Syndrome, both of which Performance Goals HPPI failed to satisfy by the respective dates related thereto. 

K. On the terms and subject to the conditions set forth in this Agreement, including, without limitation, Mayne Pharma not exercising its
rights to demand the resignation of FEO and/or Virca, as well as the other agreements and covenants of the parties set forth herein and in the agreements and instruments contemplated hereby, HPPI agrees to issue to Mayne Pharma, in a private
placement, Thirty-Three Million Three Hundred Thirty-Three Thousand Three Hundred Thirty-Three (33,333,333) shares of Common Stock (the “Shares”) and a warrant to purchase Thirty-Three Million Three Hundred Thirty-Three
Thousand Three Hundred Thirty-Three (33,333,333) shares of Common Stock, the substantial form of which is attached hereto as Annex A (the “Warrant” and, together with the Shares, the “Purchased
Securities”), and Mayne Pharma intends to purchase from HPPI the Purchased Securities. 
 NOW, THEREFORE, in consideration
of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, HPPI and Mayne Pharma agree as follows: 

ARTICLE I  

SALE AND PURCHASE OF PURCHASED SECURITIES; CLOSING 

1.1 Sale and Purchase of Purchased Securities. On the terms and subject to the conditions set forth in this Agreement, HPPI agrees to
sell to Mayne Pharma, and Mayne Pharma agrees to purchase from HPPI, at the Closing, the Purchased Securities, in consideration for an aggregate purchase price of Two Million Five Hundred Thousand Dollars ($2,500,000) (the “Purchase
Price”). 
 1.2 Closing. 

(a) On the terms and subject to the conditions set forth in this Agreement, the closing of the sale and purchase of the Purchased Securities
pursuant to Section 1.1 hereof (the “Purchase”) and the transactions contemplated herein (the “Closing”) will take place on the fifth
(5th) Business Day following the Signing Date or earlier with the agreement of the parties, 

  
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provided that all of the conditions set forth in Article IV hereof have been fulfilled or waived. The Closing shall take place at the office of HPPI’s Counsel (or remotely via the
exchange of electronic documents and signatures), or at such other place as HPPI and Mayne Pharma may mutually agree. The time and date on which the Closing occurs is referred to in this Agreement as the “Closing Date”. 

(b) Subject to the fulfillment or waiver of the conditions set forth in Section 4.1 and Section 4.2 hereof,
respectively, at the Closing, (i) HPPI will deliver to Mayne Pharma (x) the Shares, as evidenced by one or more certificates dated the Closing Date and bearing appropriate legends as hereinafter provided for, and (y) the Warrant, and
(ii) Mayne Pharma will deliver to HPPI the Purchase Price, by wire transfer of immediately available funds to an account designated by HPPI. 

ARTICLE II  

DEFINITIONS 
 2.1
Definitions. For all purposes of this Agreement, the following terms will have the following meanings: 
 “2014 Purchase
Agreement” shall have the meaning ascribed to such term in the Recitals. 
 “AAA” shall have the meaning ascribed
to such term in Section 7.10 hereof. 
 “Action” means an action, charge, claim, complaint, dispute, suit,
arbitration, inquiry, notice of violation, investigation, or proceeding (including, without limitation, an informal investigation or partial proceeding, such as a deposition), whether commenced, threatened, legal, administrative or regulatory. 

“Affiliate” or “Affiliated” means any Person that, directly or indirectly through one or more
intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act. 

“Agreement” shall have the meaning ascribed to such term in this first paragraph of this Agreement. 

“Amended Equity Holders Agreement” shall have the meaning ascribed to such term in Section 4.1(g) hereof. 

“Amended Supply Agreement” means that certain Amended and Restated Supply and License Agreement, dated as of June 24,
2014, by and between HPPI and Mayne Pharma, as amended, including, without limitation, pursuant to that certain Amendment No. 1 to the Amended and Restated Supply and License Agreement, dated as of September 17, 2014. 

“BHCA” shall have the meaning ascribed to such term in Section 3.1(ll) hereof. 

“Board of Directors” means the board of directors of HPPI. 

  
 3 

 “Business Day” means any day except any Saturday, any Sunday, any day which is a
federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental Action to close. 

“Certificate of Amendment” shall have the meaning ascribed to such term in Section 6.14 hereof. 

“Closing” shall have the meaning ascribed to such term in Section 1.2(a) hereof. 

“Closing Date” shall have the meaning ascribed to such term in Section 1.2(a) hereof. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Commission” means the United States Securities and Exchange Commission. 

“Common Stock” means the common stock of HPPI, par value $0.0001 per share, and any other class of securities into which such
securities may hereafter be reclassified or changed. 
 “Common Stock Equivalents” means any securities of HPPI or the
Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or
exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock. 
 “D&O Policy” shall have the
meaning ascribed to such term in Section 3.1(p) hereof. 
 “Disclosure Schedules” shall have the meaning
ascribed to such term in Section 3.1 hereof. 
 “Disqualification Event” shall have the meaning ascribed to
such term in Section 3.1(nn) hereof. 
 “EHA Waiver” shall have the meaning ascribed to such term in
Section 4.1(n) hereof. 
 “EIP” means the HPPI 2014 Equity Incentive Plan. 

“Equity Holders Agreement” shall have the meaning ascribed to such term in the Recitals. 

“Evaluation Date” shall have the meaning ascribed to such term in Section 3.1(r) hereof. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “FCPA” means the Foreign Corrupt Practices Act of 1977, as amended. 

“FDA” shall have the meaning ascribed to such term in Section 3.1(ii) hereof. 

“FDCA” shall have the meaning ascribed to such term in Section 3.1(ii) hereof. 

  
 4 

 “Federal Reserve” shall have the meaning ascribed to such term in
Section 3.1(ll) hereof. 
 “FEO” shall have the meaning ascribed to such term in the Recitals. 

“FEO Chairman Agreement” means that certain Executive Chairman Agreement by and between HPPI and FEO, dated as of
June 24, 2014. 
 “GAAP” shall have the meaning ascribed to such term in Section 3.1(h) hereof. 

“Governmental Authority(ies)” means any foreign, domestic, federal, territorial, state or local governmental authority,
quasi-governmental authority, instrumentality, court, legislative body, government or self-regulatory organization, commission, court, tribunal or organization or any regulatory, administrative or other agency, or any political or other subdivision,
department or branch of any of the foregoing. 
 “HPLLC” means Hedgepath, LLC, a Florida limited liability company. 

“HPLLC Warrant” means that certain warrant to purchase an aggregate of Ten Million Two Hundred Fifty Thousand Five Hundred
Sixty-Nine (10,250,569) shares of Common Stock, issued to HPLLC on June 24, 2014. 
 “HPPI” shall have the
meaning ascribed to such term in the first paragraph of this Agreement. 
 “HPPI’s Counsel” means Ellenoff
Grossman & Schole LLP, with offices located at 1345 Avenue of the Americas, New York, New York 10105-0302. 

“Indebtedness” shall have the meaning ascribed to such term in Section 3.1(aa) hereof. 

“Intellectual Property Rights” shall have the meaning ascribed to such term in Section 3.1(o) hereof. 

“Issuer Covered Person” shall have the meaning ascribed to such term in Section 3.1(nn) hereof. 

“JDC” shall have the meaning ascribed to such term in the Second Amended Supply Agreement. 

“Liens” means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other
restriction. 
 “Make-Up Warrant” shall have the meaning ascribed to such term in the Recitals. 

“Material Adverse Effect” means (i) a material adverse effect on the legality, validity or enforceability of any
Transaction Document, (ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of HPPI and the Subsidiaries, or (iii) a material adverse effect on HPPI’s ability to
perform in any material respect on a timely basis its obligations under any Transaction Document. 

  
 5 

 “Mayne Pharma” shall have the meaning ascribed to such term in this first
paragraph of this Agreement. 
 “Mayne Pharma Party(ies)” shall have the meaning ascribed to such term in
Section 6.5 hereof. 
 “Money Laundering Laws” shall have the meaning ascribed to such term in
Section 3.1(mm) hereof. 
 “MPI” shall have the meaning ascribed to such term in the Recitals. 

“OFAC” shall have the meaning ascribed to such term in Section 3.1(jj) hereof. 

“Original Registration Rights Agreement” shall have the meaning ascribed to such term in the Recitals. 

“Original Supply Agreement” shall have the meaning ascribed to such term in the Recitals. 

“Performance Goals” shall have the meaning ascribed to such term in the Equity Holders Agreement. 

“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture,
limited liability company, joint stock company, Governmental Authority or other entity of any kind. 
 “Pharmaceutical
Product” shall have the meaning ascribed to such term in Section 3.1(ii) hereof. 
 “Preferred Shares”
shall have the meaning ascribed to such term in the Recitals. 
 “Preferred Stock” means the preferred stock of HPPI, par
value $0.0001 per share, and any other class of securities into which such securities may hereafter be reclassified or changed. 

“Product” shall have the meaning ascribed to such term in the Second Amended Supply Agreement. 

“Purchase” shall have the meaning ascribed to such term in Section 1.2(a) hereof. 

“Purchase Price” shall have the meaning ascribed to such term in Section 1.1 hereof. 

“Purchased Securities” shall have the meaning ascribed to such term in the Recitals. 

“Registration Rights Agreement”’ shall have the meaning ascribed to such term in Section 6.12 hereof. 

“Regulatory Permit” shall have the meaning ascribed to such term in Section 3.1(m) hereof. 

  
 6 

 “Required Approvals” shall have the meaning ascribed to such term in
Section 3.1(e) hereof. 
 “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities
Act, as such rule may be amended or interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such rule. 

“SEC Report(s)” shall have the meaning ascribed to such term in Section 3.1(h) hereof. 

“Second Amended Bylaws” shall have the meaning ascribed to such term in Section 4.1(o) hereof. 

“Second Amended Supply Agreement” shall have the meaning ascribed to such term in Section 4.1(m) hereof. 

“Securities” means the Purchased Securities and the Warrant Shares. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

“Shares” shall have the meaning ascribed to such term in the Recitals. 

“Signing Date” shall have the meaning ascribed to such term in the first paragraph of this Agreement. 

“Subsidiary(ies)” means any subsidiary of HPPI as set forth on Schedule 3.1(a) and shall, where applicable, also
include any direct or indirect subsidiary of HPPI formed or acquired after the Signing Date. 
 “Termination Right” shall
have the meaning ascribed to such term in the Recitals. 
 “Trading Day” means a day on which the principal Trading Market
is open for trading. 
 “Trading Market” means any of the following markets or exchanges on which the Common Stock is
listed or quoted for trading on the date in question: the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange or the OTC Bulletin Board (or any successors to any of the
foregoing). 
 “Transaction Documents” means this Agreement, the Warrant, the Amended Equity Holders Agreement, all
exhibits, annexes, and schedules hereto and thereto, and any other documents or agreements executed in connection with the transactions contemplated hereunder. 

“Transfer Agent” means Computershare Trust Company, Inc., the current transfer agent of HPPI, with a mailing address of 350
Indiana Street, Suite 800, Golden, Colorado 80401 and a facsimile number of (201) 680-4665, and any successor transfer agent of HPPI. 

“Virca” shall have the meaning ascribed to such term in the Recitals. 

  
 7 

 “Virca Employment Agreement” means that certain Employment Agreement by and
between HPPI and Virca, dated as of June 24, 2014. 
 “Warrant” shall have the meaning ascribed to such term in the
Recitals. 
 “Warrant Shares” means the shares of Common Stock issuable upon exercise, in whole or in part, of the Warrant.

 ARTICLE III  

REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties of HPPI. Except as set forth in the Disclosure Schedules attached hereto as Annex B and
deemed a part hereof (“Disclosure Schedules”), and except as disclosed in the SEC Reports, HPPI hereby represents and warrants to Mayne Pharma that each of the following representations and warranties (i) is true and correct as
of the Signing Date (except as otherwise indicated) and (ii) will be true and correct as of the Closing Date (except as otherwise indicated). 

(a) Subsidiaries. All of the direct and indirect Subsidiaries of HPPI are set forth on Schedule 3.1(a). HPPI owns, directly or
indirectly, all of the capital stock or other equity interests of each Subsidiary (if any) free and clear of any Liens, and all of the issued and outstanding shares of capital stock of each Subsidiary are validly issued and are fully paid,
non-assessable and free of preemptive and similar rights to subscribe for or purchase securities. If HPPI has no subsidiaries, all other references to the Subsidiaries or any of them in the Transaction Documents shall be disregarded. 

(b) Organization and Qualification. Each of HPPI and the Subsidiaries is an entity duly incorporated or otherwise organized, validly
existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither HPPI
nor any Subsidiary is in violation or default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents. Each of HPPI and the Subsidiaries is duly qualified to conduct
business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or
in good standing, as the case may be, could not have or reasonably be expected to result in a Material Adverse Effect, and no Action has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail
such power and authority or qualification. 
 (c) Authorization, Enforcement. HPPI has the requisite corporate power and authority to
enter into and to consummate the transactions contemplated by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder (which includes the issuance of the Securities). The
execution, delivery and performance of each of this Agreement and the other Transaction Documents by HPPI and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of
HPPI and no further approval or authorization is 

  
 8 

 
required by HPPI, the Board of Directors or HPPI’s stockholders in connection herewith or therewith other than in connection with the Required Approvals. This Agreement and each other
Transaction Document to which HPPI is a party has been (or upon delivery will have been) duly executed by HPPI, and when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of HPPI enforceable
against HPPI in accordance with their respective terms. 
 (d) No Conflicts. The execution, delivery and performance by HPPI of this
Agreement and the other Transaction Documents to which it is a party, the issuance and sale of any of the Securities, and the consummation by HPPI of the transactions contemplated hereby and thereby do not and will not: (i) conflict with or
violate any provision of HPPI’s or any Subsidiary’s certificate or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute a default (or an event that with notice or lapse of
time or both would become a default) under, result in the creation of any Lien upon any of the properties or assets of HPPI or any Subsidiary, or give to others any rights of termination, amendment, acceleration or cancellation (with or without
notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a debt of HPPI or a Subsidiary or otherwise) or other understanding to which HPPI or any Subsidiary is a party or by which any property or asset
of HPPI or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any Governmental
Authority to which HPPI or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any property or asset of HPPI or a Subsidiary is bound or affected. 

(e) Filings, Consents and Approvals. HPPI is not required to obtain any consent, waiver, authorization or order of, give any notice to,
or make any filing or registration with, any Governmental Authority or other Person in connection with the execution, delivery and performance by HPPI of the Transaction Documents, other than: (i) the filings required pursuant to
Section 6.3 of this Agreement and (ii) the filing of Form D with the Commission and such filings as are required to be made under applicable state securities laws (collectively, the “Required Approvals”). 

(f) Issuance of Securities. 

(i) The Shares are duly authorized, and, when issued and delivered pursuant to this Agreement, will be duly and validly issued, fully paid and
nonassessable, free and clear of all Liens other than restrictions on transfer provided for in the Transaction Documents. 
 (ii) The
Warrant has been duly authorized and, when executed and delivered as contemplated hereby, will constitute a valid and legally binding obligation of HPPI in accordance with its terms, and the Warrant Shares have been duly authorized and reserved for
issuance upon exercise of the Warrant and when so issued in accordance with the terms thereof will be validly issued, fully paid and non-assessable, free and clear of all Liens other than restrictions on transfer provided for in the Transaction
Documents. 

  
 9 

 (iii) HPPI has reserved from its duly authorized capital stock the maximum number of shares of
Common Stock issuable upon the full exercise of the Warrant. 
 (g) Capitalization. 

(i) The authorized capital stock of HPPI, as of the Signing Date and effective immediately prior to the Closing, consists of (i) Three
Hundred Forty Million (340,000,000) shares of Common Stock, of which (A) Two Hundred Eleven Million Four Hundred Nineteen Thousand Nine Hundred Thirty-Seven (211,419,937) shares are issued and outstanding and (B) no shares are
held in treasury, and (ii) Ten Million (10,000,000) shares of Preferred Stock, of which (A) no shares are issued and outstanding and (B) no shares are held in treasury. As of the Signing Date and effective immediately prior to
the Closing, no shares of Common Stock or Preferred Stock are reserved for issuance, except for (1) Ten Million Two Hundred Fifty Thousand Five Hundred Sixty-Nine (10,250,569) shares of Common Stock reserved for issuance pursuant to the
Make-Up Warrant, and (2) Ten Million Two Hundred Fifty Thousand Five Hundred Sixty-Nine (10,250,569) shares of Common Stock reserved for issuance pursuant to the HPLLC Warrant. 

(ii) Schedule 3.1(g) sets forth the capitalization of HPPI immediately prior to the Closing and immediately following the Closing,
and, in each case, shall include (A) all issued and outstanding Common Stock, including, with respect to any restricted Common Stock, any vesting schedule and repurchase price; (B) all granted stock options, including any vesting schedule
and exercise price; (C) all shares of Common Stock to be reserved for future award grants under the EIP; (D) each series and all shares of issued and outstanding Preferred Stock and shares of Common Stock issuable upon conversion of such
shares of Preferred Stock; (E) all granted warrants or other stock purchase rights, if any; and (F) the number of shares of Common Stock owned beneficially, and of record, by Affiliates of HPPI. 

(iii) HPPI has not issued any capital stock since its most recently filed periodic report under the Exchange Act. No Person has any right of
first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Transaction Documents. Except as set forth on the Disclosure Schedules, there are no outstanding options, warrants,
scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire any
shares of Common Stock or Preferred Stock or any other securities of HPPI, or contracts, commitments, understandings or arrangements by which HPPI or any Subsidiary is or may become bound to issue additional shares of Common Stock, any Common Stock
Equivalents or any other securities of HPPI. The issuance and sale of any of the Securities will not obligate HPPI to issue any shares of Common Stock or Preferred Stock or other securities of HPPI to any Person (other than Mayne Pharma) and will
not result in a right of any holder of HPPI’s securities to adjust the exercise, conversion, exchange or reset price under any of such securities. All of the outstanding shares of capital stock of HPPI are duly authorized, validly issued, fully
paid and nonassessable, have been issued in compliance with all federal and state securities laws, and none of such outstanding shares was issued in violation of any preemptive rights, rights of first refusal or other similar rights to subscribe for
or purchase securities (or is subject to any preemptive rights, rights of first refusal or other similar rights to subscribe for or purchase securities). 

  
 10 

 (iv) No further approval or authorization of any stockholder, the Board of Directors or any
other Person is required for the issuance and sale of any of the Securities. Except for the Equity Holders Agreement, there are no stockholders agreements, voting agreements or other similar agreements with respect to HPPI’s capital stock to
which HPPI is a party or, to the knowledge of HPPI, between or among any of HPPI’s stockholders. 
 (h) SEC Reports; Financial
Statements. HPPI has, since August 12, 2013, filed all reports, schedules, forms, statements and other documents required to be filed by HPPI under the Securities Act and the Exchange Act, including pursuant to Section 13(a), 14(a) or
15(d) thereof (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports” and each an “SEC Report”), on a
timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the
requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when they became effective or were filed, contained any untrue statement of a material fact or omitted to state a material fact required to be
stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements of HPPI included in the SEC Reports comply in all material respects with
applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with United States generally accepted accounting
principles applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all
footnotes required by GAAP, and fairly present in all material respects the financial position of HPPI and its consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended,
subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. 
 (i) Material Changes; Undisclosed
Events, Liabilities or Developments. Since August 12, 2013, except as specifically disclosed in a subsequent SEC Report filed at least three (3) Business Days prior to the Signing Date: (i) there has been no event, liability,
fact, circumstance, occurrence or development that, individually or in the aggregate, has had or could reasonably be expected to result in a Material Adverse Effect, (ii) HPPI has not incurred any liabilities (contingent or otherwise) other
than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in HPPI’s financial statements pursuant to GAAP or disclosed in
filings made with the Commission, (iii) HPPI has not altered its method of accounting, (iv) HPPI has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any
agreements to purchase or redeem any shares of its capital stock and (v) HPPI has not issued any equity securities to any officer, director or Affiliate. HPPI does not have pending before the Commission any request for confidential treatment of
information. No event, liability, fact, circumstance, occurrence or development has occurred or exists, or is reasonably expected to occur or exist, with respect to HPPI or its Subsidiaries or their respective businesses, properties, operations,
assets or financial condition, that would be required to be disclosed by HPPI under applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least one (1) Trading Day prior to the
date that this representation is made. 

  
 11 

 (j) Litigation. Except as described in Schedule 3.1(j), there is no Action active,
pending or, to the knowledge of HPPI, threatened against or affecting HPPI, any Subsidiary or Affiliate of HPPI or any of their respective properties before or by any arbitrator or Governmental Authority which, individually or in the aggregate,
(i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Securities or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material
Adverse Effect. Neither HPPI nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary
duty. There has not been, and to the knowledge of HPPI, there is not pending or contemplated, any investigation by the Commission involving HPPI or any current or former director or officer of HPPI. The Commission has not issued any stop order or
other order suspending the effectiveness of any registration statement filed by HPPI or any Subsidiary under the Exchange Act or the Securities Act. 

(k) Labor Relations. No labor dispute exists or, to the knowledge of HPPI, is imminent with respect to any of the employees of HPPI,
which could reasonably be expected to result in a Material Adverse Effect. None of HPPI’s or its Subsidiaries’ employees is a member of a union that relates to such employee’s relationship with HPPI or such Subsidiary, and neither
HPPI nor any of its Subsidiaries is a party to a collective bargaining agreement, and HPPI and its Subsidiaries believe that their relationships with their employees are good. To the knowledge of HPPI, no executive officer of HPPI or any Subsidiary
is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant
in favor of any third party, and the continued employment of each such executive officer does not subject HPPI or any of its Subsidiaries to any liability with respect to any of the foregoing matters. HPPI and its Subsidiaries are in compliance with
all U.S. federal, state, local and foreign laws and regulations relating to employment and employment practices, terms and conditions of employment and wages and hours. 

(l) Compliance. Neither HPPI nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has
not been waived that, with notice or lapse of time or both, would result in a default by HPPI or any Subsidiary under), nor has HPPI or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any
indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment,
decree, or order of any arbitrator or Governmental Authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any Governmental Authority, including without limitation all foreign, federal, state and local
laws relating to taxes, environmental protection, occupational health and safety, product quality and safety and employment and labor matters except, in the case of clauses (ii) and (iii) above, where the violation would not reasonably be
expected to result in a Material Adverse Effect. 

  
 12 

 (m) Regulatory Permits. HPPI and the Subsidiaries possess all certificates, authorizations
and permits issued by the appropriate Governmental Authorities necessary to conduct their respective businesses as described in the SEC Reports (each a “Regulatory Permit”), and neither HPPI nor any Subsidiary has received any
notice of Actions relating to the revocation or modification of any Regulatory Permit. 
 (n) Title to Assets. HPPI and the
Subsidiaries have good and marketable title in fee simple to all real property owned by them and good and marketable title in all personal property owned by them that is material to the business of HPPI and the Subsidiaries, in each case free and
clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by HPPI and the Subsidiaries and (ii) Liens for the
payment of federal, state or other taxes, for which appropriate reserves have been made therefor in accordance with GAAP and the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by
HPPI and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which HPPI and the Subsidiaries are in compliance. 

(o) Intellectual Property. Subject to the conditional use of the Intellectual Property Rights permitted by Mayne Pharma to HPPI
pursuant to the Amended Supply Agreement, HPPI and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and
other intellectual property rights and similar rights (collectively, the “Intellectual Property Rights”) as necessary or required for use in connection with their respective businesses. None of, and neither HPPI nor any Subsidiary
has received a notice (written or otherwise) that any of, the Intellectual Property Rights of HPPI and the Subsidiaries has expired, terminated or been abandoned, or is expected to expire or terminate or be abandoned, within two (2) years from
the date of this Agreement. Neither HPPI nor any Subsidiary has received, since August 12, 2013, a written notice of a claim or otherwise has any knowledge that the Intellectual Property Rights of HPPI or any of the Subsidiaries violate or
infringe upon the rights of any Person. To the knowledge of HPPI and subject to the conditional use of the Intellectual Property Rights permitted by Mayne Pharma to HPPI pursuant to the Amended Supply Agreement, all Intellectual Property Rights of
HPPI and the Subsidiaries are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights of HPPI and the Subsidiaries. HPPI and its Subsidiaries have taken commercially reasonable security measures
to protect the secrecy, confidentiality and value of all of their Intellectual Property Rights. 
 (p) Insurance. HPPI and the
Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which HPPI and the Subsidiaries are engaged, including, but not limited
to, directors and officers insurance coverage at least equal to Two Million Dollars ($2,000,000) (the “D&O Policy”). Neither HPPI nor any Subsidiary has any reason to believe that it will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost. 

  
 13 

 (q) Transactions With Affiliates and Employees. Except as set forth in the SEC Reports,
none of the officers, directors or employees of HPPI or any Subsidiary is presently a party to any transaction with HPPI or any Subsidiary (other than for services as employees, officers and directors), including any contract, agreement or other
arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, providing for the borrowing of money from or lending of money to or otherwise requiring payments to or from any officer,
director or such employee or any entity in which any officer, director, or any such employee has a substantial interest or is an officer, manager, director, trustee, stockholder, member or partner, other than for: (i) payment of reasonable
salary or consulting fees for services rendered, (ii) reimbursement for reasonable expenses incurred on behalf of HPPI and (iii) other employee benefits, including stock option agreements under any stock option plan of HPPI. 

(r) Sarbanes-Oxley; Internal Accounting Controls. HPPI and the Subsidiaries are in compliance with any and all applicable requirements
of the Sarbanes-Oxley Act of 2002 that are effective as of the Signing Date, and any and all applicable rules and regulations promulgated by the Commission thereunder that are effective as of the Signing Date and as of the Closing Date. HPPI and the
Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are
recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization,
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. HPPI and the Subsidiaries have established disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for HPPI and the Subsidiaries and designed such disclosure controls and procedures to ensure that information required to be disclosed by HPPI in the reports it files or submits
under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. HPPI’s certifying officers have evaluated the effectiveness of the disclosure controls and
procedures of HPPI and the Subsidiaries as of the end of the period covered by the most recently filed periodic report under the Exchange Act (such date, the “Evaluation Date”). HPPI presented in its most recently filed periodic
report under the Exchange Act the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation Date, there have been no changes in
the internal control over financial reporting (as such term is defined in the Exchange Act) of HPPI and its Subsidiaries that have materially affected, or are reasonably likely to materially affect, the internal control over financial reporting of
HPPI or its Subsidiaries. 
 (s) Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by HPPI or
any Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents. Mayne Pharma shall have no obligation with
respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section 3.1(s) that may be due in connection with the transactions contemplated by the Transaction Documents.

  
 14 

 (t) Private Placement. Assuming the accuracy of Mayne Pharma’s representations and
warranties set forth in Section 3.2 hereof, no registration under the Securities Act is required for the offer, sale or issuance of any of the Securities, by HPPI to Mayne Pharma as contemplated hereby. The offer, sale and issuance of
any of the Securities hereunder, or otherwise, do not contravene the rules and regulations of the Trading Market. 
 (u) Investment
Company. HPPI is not, and is not an Affiliate of, and immediately after the Purchase, will not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. HPPI shall conduct
its business in a manner so that it will not become an “investment company” subject to registration under the Investment Company Act of 1940, as amended. 

(v) Registration Rights. Except for the Original Registration Rights Agreement, no Person has any right to cause HPPI to effect the
registration under the Securities Act of any securities of HPPI or any Subsidiary. 
 (w) Listing and Maintenance Requirements. The
Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and HPPI has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Stock under the
Exchange Act nor has HPPI received any notification that the Commission is contemplating terminating such registration. HPPI has not, since August 12, 2013, received notice from any Trading Market on which the Common Stock is or has been listed
or quoted to the effect that HPPI is not in compliance with the listing or maintenance requirements of such Trading Market. HPPI is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such
listing and maintenance requirements. The Common Stock is currently eligible for electronic transfer through the Depository Trust Company or another established clearing corporation and HPPI is current in payment of the fees to the Depository Trust
Company (or such other established clearing corporation) in connection with such electronic transfer. 
 (x) Application of Takeover
Protections. HPPI and the Board of Directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other
similar anti-takeover provision under HPPI’s amended and restated certificate of incorporation (or similar charter documents) or the laws of the State of Delaware that is or could become applicable to
Mayne Pharma as a result of Mayne Pharma and HPPI fulfilling their obligations or exercising their rights under the Transaction Documents, including without limitation as a result of HPPI’s issuance of the Securities and Mayne Pharma’s
ownership of the Securities. 
 (y) Disclosure. All of the disclosures furnished by or on behalf of HPPI to Mayne Pharma regarding
HPPI and HPPI’s Subsidiaries, their respective businesses and the transactions contemplated hereby, including the Disclosure Schedules, and all of the representations and warranties of HPPI contained herein, are true and correct and do not
contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading. The press releases disseminated by
HPPI during the twelve months preceding the 

  
 15 

 
date of this Agreement taken as a whole do not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made and when made, not misleading. HPPI acknowledges and agrees that Mayne Pharma does not make or has not made any representations or warranties with respect to the
transactions contemplated by the Transaction Documents other than those specifically set forth in Section 3.2 hereof. 
 (z)
No Integrated Offering. Assuming the accuracy of Mayne Pharma’s representations and warranties set forth in Section 3.2 hereof, neither HPPI, nor any of its Affiliates, nor any Person acting on its or their behalf has,
directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering of the Purchased Securities to be integrated with prior offerings by HPPI for purposes
of the Securities Act which would require the registration of any such securities under the Securities Act. 
 (aa) Solvency. Based
on the consolidated financial condition of HPPI as of the Closing Date, and after giving effect to HPPI’s receipt of the Purchase Price as contemplated hereby: (i) the fair saleable value of HPPI’s assets exceeds the amount that will
be required to be paid on or in respect of HPPI’s existing debts and other liabilities (including known contingent liabilities) as they mature, (ii) HPPI’s assets do not constitute unreasonably small capital to carry on its business
as now conducted and as proposed to be conducted including its capital needs taking into account the particular capital requirements of the business conducted by HPPI, consolidated and projected capital requirements and capital availability thereof,
and (iii) the current cash flow of HPPI, together with the proceeds HPPI would receive, were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect
of its liabilities when such amounts are required to be paid. HPPI does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt).
HPPI has no knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or reorganization laws of any jurisdiction within one year from the Closing Date. Schedule
3.1(aa) sets forth as of the Signing Date all outstanding secured and unsecured Indebtedness of HPPI or any Subsidiary, or for which HPPI or any Subsidiary has commitments. For the purposes of this Agreement, “Indebtedness”
means (x) any liabilities for borrowed money or amounts owed in excess of Fifty Thousand and 00/100 Dollars ($50,000) (other than trade accounts payable incurred in the ordinary course of business), (y) all guaranties, endorsements and
other contingent obligations in respect of indebtedness of others, whether or not the same are or should be reflected in HPPI’s consolidated balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for
deposit or collection or similar transactions in the ordinary course of business, and (z) the present value of any lease payments in excess of Fifty Thousand and 00/100 Dollars ($50,000) due under leases required to be capitalized in accordance
with GAAP. Neither HPPI nor any Subsidiary is in default with respect to any Indebtedness. 
 (bb) Tax Status. Except for matters
that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, HPPI and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all foreign
income and franchise tax returns, reports and declarations required by any jurisdiction to 

  
 16 

 
which it is subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and
declarations, and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any
material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of HPPI or of any Subsidiary know of no basis for any such claim. 

(cc) No General Solicitation. Neither HPPI nor any Person acting on behalf of HPPI has offered or sold any of the Securities by any
form of general solicitation or general advertising. HPPI has offered the Securities for sale or issuance only to Mayne Pharma. 
 (dd)
Foreign Corrupt Practices. Neither HPPI nor any Subsidiary or, to the knowledge of HPPI or any Subsidiary, any agent or other Person acting on behalf of HPPI or any Subsidiary, has: (i) directly or indirectly, used any funds for unlawful
contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political
parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by HPPI or any Subsidiary (or made by any Person acting on its behalf of which HPPI is aware) which is in violation of any law or (iv) violated
any provision of the FCPA. 
 (ee) Accountants. HPPI’s accounting firm is set forth on Schedule 3.1(ee) of the Disclosure
Schedules. To the knowledge and belief of HPPI, such accounting firm: (i) is a registered public accounting firm as required by the Exchange Act and (ii) shall express its opinion with respect to the financial statements to be included in
HPPI’s annual report for the fiscal year ending December 31, 2015. 
 (ff) No Disagreements with Accountants and Lawyers.
There are no disagreements of any kind presently existing, or reasonably anticipated by HPPI to arise, between HPPI and the accountants and lawyers formerly or presently employed by HPPI and HPPI is current with respect to any fees owed to its
accountants and lawyers which could affect HPPI’s ability to perform any of its obligations under any of the Transaction Documents. 

(gg) Acknowledgment Regarding Purchase of the Purchased Securities. HPPI acknowledges and agrees that Mayne Pharma is acting solely in
the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated thereby. HPPI further acknowledges that Mayne Pharma is not acting as a financial advisor or fiduciary of HPPI (or in any
similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by Mayne Pharma or any of its respective representatives or agents in connection with the Transaction Documents and the
transactions contemplated thereby is merely incidental to Mayne Pharma’s Purchase of the Purchased Securities. HPPI further represents to Mayne Pharma that HPPI’s decision to enter into this Agreement and the other Transaction Documents
has been based solely on the independent evaluation of the transactions contemplated hereby by HPPI and its representatives. 

  
 17 

 (hh) Regulation M Compliance. HPPI has not, and to its knowledge no one acting on its
behalf has, (i) taken, directly or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of HPPI to facilitate the sale or resale of any of the Securities, (ii) sold, bid
for, purchased, or paid any compensation for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of HPPI. 

(ii) FDA. As to each product subject to the jurisdiction of the U.S. Food and Drug Administration (“FDA”) under the
Federal Food, Drug and Cosmetic Act, as amended, and the regulations thereunder (“FDCA”) that is manufactured, packaged, labeled, tested, distributed, sold, and/or marketed by HPPI or any of its Subsidiaries (each such product, a
“Pharmaceutical Product”), such Pharmaceutical Product is being manufactured, packaged, labeled, tested, distributed, sold and/or marketed by HPPI in compliance with all applicable requirements under FDCA and similar laws, rules and
regulations relating to registration, investigational use, premarket clearance, licensure, or application approval, good manufacturing practices, good laboratory practices, good clinical practices, product listing, quotas, labeling, advertising,
record keeping and filing of reports. There is no pending, completed or, to HPPI’s knowledge, threatened, Action against HPPI or any of its Subsidiaries, and none of HPPI or any of its Subsidiaries has received any notice, warning letter or
other communication from the FDA or any other Governmental Authority, which (i) contests the premarket clearance, licensure, registration, or approval of, the uses of, the distribution of, the manufacturing or packaging of, the testing of, the
sale of, or the labeling and promotion of any Pharmaceutical Product, (ii) withdraws its approval of, requests the recall, suspension, or seizure of, or withdraws or orders the withdrawal of advertising or sales promotional materials relating
to, any Pharmaceutical Product, (iii) imposes a clinical hold on any clinical investigation by HPPI or any of its Subsidiaries, (iv) enjoins production at any facility of HPPI or any of its Subsidiaries, (v) enters or proposes to
enter into a consent decree of permanent injunction with HPPI or any of its Subsidiaries, or (vi) otherwise alleges any violation of any laws, rules or regulations by HPPI or any of its Subsidiaries. The properties, business and operations of
HPPI have been and are being conducted in all material respects in accordance with all applicable laws, rules and regulations of the FDA. HPPI has not been informed by the FDA that the FDA will prohibit the marketing, sale, license or use in
the United States of any product proposed to be developed, produced or marketed by HPPI nor has the FDA expressed any concern as to approving or clearing for marketing any product being developed or proposed to be developed by HPPI. 

(jj) Office of Foreign Assets Control. Neither HPPI nor any Subsidiary nor, to HPPI’s knowledge, any director, officer, agent,
employee or Affiliate of HPPI or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”). 

(kk) U.S. Real Property Holding Corporation. HPPI is not and has never been a U.S. real property holding corporation within the meaning
of Section 897 of the Code, and HPPI shall so certify upon Mayne Pharma’s request. 
 (ll) Bank Holding Company Act.
Neither HPPI nor any of its Subsidiaries or Affiliates is subject to the Bank Holding Company Act of 1956, as amended (the “BHCA”) or to regulation by the Board of Governors of the Federal Reserve System (the “Federal
Reserve”). 

  
 18 

 
Neither HPPI nor any of its Subsidiaries or Affiliates owns or controls, directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities, or
twenty-five percent (25%) or more of the total equity, of a bank or any Person that is subject to the BHCA or to regulation by the Federal Reserve. Neither HPPI nor any of its Subsidiaries or Affiliates exercises a controlling influence over
the management or policies of a bank or any Person that is subject to the BHCA or to regulation by the Federal Reserve. 
 (mm) Money
Laundering. The operations of HPPI and its Subsidiaries are and have been conducted at all times in compliance with applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as
amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money Laundering Laws”), and no Action by or before any Governmental Authority or any arbitrator involving HPPI or any
of its Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of HPPI or any Subsidiary, threatened. 
 (nn)
No Disqualification Events. With respect to the Securities to be offered and sold hereunder in reliance on Rule 506 under the Securities Act, none of HPPI, any of its predecessors, any Affiliated issuer, any director, executive officer, other
officer of HPPI participating in the offering hereunder, any beneficial owner of twenty percent (20%) or more of HPPI’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is
defined in Rule 405 under the Securities Act) connected with HPPI in any capacity at the time of sale (each, an “Issuer Covered Person”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i)
through (viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). HPPI has exercised reasonable care to determine whether any Issuer Covered Person is
subject to a Disqualification Event. HPPI has complied, to the extent applicable, with its disclosure obligations under Rule 506(e), and has furnished to Mayne Pharma a copy of any disclosures provided thereunder. 

(oo) Other Covered Persons. HPPI is not aware of any Person (other than any Issuer Covered Person) that has been or will be paid
(directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of any of the Securities. 
 (pp) Notice
of Disqualification Events. HPPI will notify Mayne Pharma in writing, prior to the Closing Date of (i) any Disqualification Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, become a
Disqualification Event relating to any Issuer Covered Person. 
 Mayne Pharma acknowledges and agrees that the representations contained in
Section 3.1 hereof shall not modify, amend or affect HPPI’s right to rely on Mayne Pharma’s representations and warranties contained in this Agreement or any representations and warranties contained in any other Transaction
Document or any other document or instrument executed and/or delivered in connection with this Agreement or the consummation of the transaction contemplated hereby. 

3.2 Representations and Warranties of Mayne Pharma. Mayne Pharma hereby represents and warrants to HPPI that each of the following
representations and warranties (i) is true and correct as of the Signing Date (except as otherwise indicated) and (ii) will be true and correct as of the Closing Date (except as otherwise indicated). 

  
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 (a) Organization; Authority. Mayne Pharma is a corporation duly organized, validly
existing and in good standing under the laws of Australia with full right, corporate power, and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder
and thereunder. The execution, delivery and performance of the Transaction Documents and performance by Mayne Pharma of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate action on the
part of Mayne Pharma. Each Transaction Document to which it is a party has been duly executed by Mayne Pharma, and when delivered by Mayne Pharma in accordance with the terms hereof, will constitute the valid and legally binding obligation of Mayne
Pharma, enforceable against it in accordance with its terms. 
 (b) Own Account. Mayne Pharma understands that the Purchased
Securities are “restricted securities” and have not been registered under the Securities Act or any applicable state securities law and is acquiring the Purchased Securities as principal for its own account and not with a view to or for
distributing or reselling the Purchased Securities or any part thereof in violation of the Securities Act or any applicable state securities law, has no present intention of distributing the Purchased Securities in violation of the Securities Act or
any applicable state securities law and has no direct or indirect arrangement or understandings with any other Persons to distribute or regarding the distribution of the Purchased Securities in violation of the Securities Act or any applicable state
securities law (this representation and warranty not limiting Mayne Pharma’s right to sell the Purchased Securities in compliance with applicable federal and state securities laws). 

(c) Status of Mayne Pharma. At the time Mayne Pharma was offered the Purchased Securities, it was, and as of the Signing Date it is,
and on the Closing Date and each date on which it exercises the Warrant or any part thereof, it will be either: (i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act or
(ii) a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act. 
 (d) Experience of
Mayne Pharma. Mayne Pharma, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective
investment in the Purchased Securities, and has so evaluated the merits and risks of such investment. Mayne Pharma understands and acknowledges that: (i) an investment in HPPI is subject to substantial risk due to the nature of HPPI’s
business and (ii) Mayne Pharma is able to bear the economic risk of an investment in the Purchased Securities and, at the present time, is able to afford a complete loss of such investment. 

(e) No General Solicitation. Mayne Pharma is not purchasing the Purchased Securities as a result of any advertisement, article, notice
or other communication regarding the Purchased Securities published in any newspaper, magazine or similar media or broadcast over television, radio or the internet or presented at any seminar or any other general solicitation or general
advertisement. 

  
 20 

 (f) No Conflicts. The execution, delivery and performance by Mayne Pharma of this
Agreement and the other Transaction Documents to which it is a party and the consummation by Mayne Pharma of the transactions contemplated hereby and thereby do not and will not: (i) conflict with or violate any provision of Mayne Pharma’s
organizational or charter documents or (ii) subject to the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any Governmental Authority to which
Mayne Pharma or its Affiliates is subject (including federal and state securities laws and regulations), or by which any property or asset of Mayne Pharma or its Affiliates are bound or affected. 

(g) Disqualification Events. Neither Mayne Pharma nor any of its shareholders, members, managers, general or limited partners,
directors, Affiliates or executive officers, are subject to any Disqualification Event, except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). Mayne Pharma’s Purchase of the Purchased Securities will not subject HPPI to any
Disqualification Event. 
 (h) Litigation. There is no Action, pending or, to the knowledge of Mayne Pharma or its Affiliates,
threatened against or affecting MPI, Mayne Pharma or any of their Affiliates or any of their respective properties which, individually or in the aggregate, (i) adversely affects or challenges the legality, validity or enforceability of any of
the Transaction Documents or the Purchased Securities or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect on MPI, Mayne Pharma or its Affiliates. 

HPPI acknowledges and agrees that the representations contained in Section 3.2 hereof shall not modify, amend or affect Mayne
Pharma’s right to rely on HPPI’s representations and warranties contained in this Agreement or any representations and warranties contained in any other Transaction Document or any other document or instrument executed and/or delivered in
connection with this Agreement or the consummation of the transaction contemplated hereby. 
 ARTICLE IV 

CONDITIONS TO CLOSING 

4.1 Conditions to Mayne Pharma’s Obligations at the Closing. The obligation of Mayne Pharma to consummate the Closing is subject
to the fulfillment (or waiver by Mayne Pharma) at or prior to the Closing of each of the following conditions: 
 (a) Representations and
Warranties. The representations and warranties of HPPI contained in Section 3.1 hereof shall be true and correct in all respects as of the Closing (other than representations and warranties that by their terms speak as of another
date, which representations and warranties shall be true and correct as of such date). 
 (b) Performance. HPPI shall have performed
and complied with all covenants, agreements, obligations, and conditions contained in this Agreement that are required to be performed or complied with by HPPI on or before the Closing. 

  
 21 

 (c) Material Adverse Effect. Since the Signing Date, no fact, circumstance, event, change,
occurrence, condition or development shall have occurred that, individually or in the aggregate, has had or would be reasonably likely to have a Material Adverse Effect. 

(d) Compliance Certificate. The Chief Executive Officer and President of HPPI shall have duly executed and delivered to Mayne Pharma a
certificate, dated as of the Closing Date, in form and substance satisfactory to Mayne Pharma, certifying to the fulfillment of the conditions set forth in subsections (a), (b), (c), (e) and (f) of this Section 4.1. 

(e) Qualifications. All authorizations, approvals, or permits, if any, of any Governmental Authority that are required to be made or
obtained by HPPI in connection with the consummation of the transactions contemplated by this Agreement shall have been obtained and effective as of the Closing. 

(f) Litigation; Illegality. None of the transactions contemplated hereby shall have been enjoined by any Governmental Authority, no
Action challenging the transactions contemplated hereby shall have been threatened or instituted and no investigative or other demand shall have been made by any Governmental Authority, and no law shall have been enacted that prohibits, restrains,
or makes illegal the consummation of the transactions contemplated hereby. 
 (g) Amended and Restated Equity Holders Agreement. HPPI
and the other respective parties thereto, other than Mayne Pharma, shall have duly executed and delivered to Mayne Pharma the Amended and Restated Equity Holders Agreement, the substantial form of which is attached hereto as Annex C (the
“Amended Equity Holders Agreement”). 
 (h) Legal Opinion. HPPI shall have delivered to Mayne Pharma a legal
opinion, from HPPI’s Counsel, dated as of the Closing Date, the substantial form of which shall be agreed to by HPPI’s Counsel and Mayne Pharma. 

(i) Secretary’s Certificate. HPPI shall have delivered to Mayne Pharma a certificate executed by the Secretary of HPPI, in form
and substance satisfactory to Mayne Pharma, together with (i) a certified copy of HPPI’s amended and restated certificate of incorporation in effect at the time of the Closing, (ii) HPPI’s bylaws in effect at the time of the
Closing, (iii) certified resolutions of the Board of Directors authorizing the Transaction Documents and the transactions contemplated thereby, (iv) certified resolutions of the Board of Directors and stockholders of HPPI authorizing the
Certificate of Amendment and the Second Amended Bylaws, (v) a good standing certificate with respect to HPPI from the Secretary of State of the State of Delaware, dated a recent date before the Closing, and (vi) a certification as to the
incumbency of the current officers of HPPI. 
 (j) Amendment to Virca Employment Agreement. HPPI and Virca shall have entered into an
amendment to the Virca Employment Agreement, in form and substance satisfactory to Mayne Pharma. 
 (k) Amended and Restated FEO Chairman
Agreement. HPPI and FEO shall have entered into an amendment to the FEO Chairman Agreement, in form and substance satisfactory to Mayne Pharma. 

  
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 (l) Reservation of Shares. HPPI shall have duly authorized and reserved for issuance the
Warrant Shares. 
 (m) Second Amended Supply Agreement. HPPI shall have duly executed and delivered to Mayne Pharma the Second
Amended and Restated Supply and License Agreement, the substantial form of which is attached hereto as Annex D (the “Second Amended Supply Agreement”). 

(n) EHA Waiver. HPPI shall have duly executed and delivered to Mayne Pharma the Waiver concerning certain obligations under the Equity
Holders Agreement, the substantial form of which is attached hereto as Annex E (the “EHA Waiver”). 
 (o) Second
Amended and Restated Bylaws. The Amended and Restated Bylaws of HPPI (adopted effective as of July 18, 2014) shall have been amended and restated pursuant to the Second Amended and Restated Bylaws, the substantial form of which is attached
hereto as Annex F (the “Second Amended Bylaws”). 
 4.2 Conditions to HPPI’s Obligations at the Closing.
The obligation of HPPI to consummate the Closing is subject to the fulfillment (or waiver by HPPI) at or prior to the Closing of each of the following conditions: 

(a) Representations and Warranties. The representations and warranties of Mayne Pharma contained in Section 3.2 hereof
shall be true and correct in all respects as of the Closing (other than representations and warranties that by their terms speak as of another date, which representations and warranties shall be true and correct as of such date). 

(b) Performance. Mayne Pharma shall have performed and complied with all covenants, agreements, obligations, and conditions contained
in this Agreement that are required to be performed or complied with by Mayne Pharma on or before the Closing. 
 (c) Compliance
Certificate. An officer of Mayne Pharma shall have duly executed and delivered to HPPI a certificate, dated as of the Closing Date, in form and substance satisfactory to HPPI, certifying to the fulfillment of the conditions set forth in
subsections (a), (b) and (d) of this Section 4.2. 
 (d) Qualifications. All authorizations, approvals, or
permits, if any, of any Governmental Authority that are required to be made or obtained by Mayne Pharma in connection with the consummation of the transactions contemplated by this Agreement shall have been obtained and effective as of the Closing.

 (e) Amended and Restated Equity Holders Agreement. Mayne Pharma shall have duly executed and delivered to HPPI the Amended Equity
Holders Agreement. 
 (f) Second Amended Supply Agreement. Mayne Pharma shall have duly executed and delivered to HPPI the Second
Amended Supply Agreement. 
 (g) EHA Waiver. Mayne Pharma shall have duly executed and delivered to HPPI the EHA Waiver. 

  
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 ARTICLE V  

COVENANTS 
 5.1
Commercially Reasonable Efforts. Subject to the terms and conditions of this Agreement, each of the parties will use its commercially reasonable efforts in good faith to take, or cause to be taken, all actions, and to do, or cause to be done,
all things necessary, proper or desirable, or advisable under applicable laws, so as to permit consummation of the Purchase as promptly as practicable and otherwise to enable consummation of the transactions contemplated hereby and shall use
commercially reasonable efforts to cooperate with the other party to that end. 
 5.2 Certain Notifications Until Closing. From the
Signing Date until the Closing Date, HPPI shall promptly notify Mayne Pharma of (i) any fact, event or circumstance of which HPPI is aware and which would be reasonably likely to cause any representation or warranty of HPPI contained in this
Agreement to be untrue or inaccurate in any material respect or to cause any covenant or agreement of HPPI contained in this Agreement not to be complied with or satisfied in any material respect and (ii) any fact, circumstance, event, change,
occurrence, condition or development of which HPPI is aware and which, individually or in the aggregate, has had or would be reasonably likely to have a Material Adverse Effect; provided, however, that delivery of any notice pursuant to this
Section 5.2 shall not limit or affect any rights of or remedies available to Mayne Pharma. 
 ARTICLE VI  

ADDITIONAL AGREEMENTS 

6.1 Transfer Restrictions. 

(a) Mayne Pharma acknowledges and agrees that the Securities may only be disposed of in compliance with state and federal securities laws. In
connection with any transfer of the Securities other than pursuant to an effective registration statement or Rule 144 or to HPPI or to an Affiliate of Mayne Pharma, HPPI may require the transferor thereof to provide to HPPI an opinion of counsel
selected by the transferor and reasonably acceptable to HPPI, the form and substance of which opinion shall be reasonably satisfactory to HPPI, to the effect that such transfer does not require registration of the Securities which are transferred by
the transferor under the Securities Act. As a condition of any such transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights and obligations of Mayne Pharma under this Agreement. 

(b) Mayne Pharma agrees to the imprinting, so long as is required by this Section 6.1, of a legend on any of the Securities in the
following form: 
 THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OR 

  
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PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS
EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. 

(c) Certificates evidencing the Shares and the Warrant Shares shall not be required to contain any legend (including the legend set forth in
Section 6.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act or (ii) following or in connection with any sale of the Shares or the Warrant Shares pursuant
to Rule 144. HPPI shall cause (at HPPI’s cost) its counsel to issue a legal opinion to the Transfer Agent promptly after the occurrence of either of the foregoing if required by the Transfer Agent to effect the removal of the legend hereunder.
Certificates for the Shares and the Warrant Shares subject to legend removal hereunder shall upon Mayne Pharma’s request be transmitted by the Transfer Agent to Mayne Pharma by crediting the account of Mayne Pharma’s prime broker with the
Depository Trust Company system as directed by Mayne Pharma. 
 (d) Mayne Pharma agrees with HPPI that Mayne Pharma will sell the Securities
pursuant to either the registration requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom, and that if any of the Securities are sold pursuant to a registration statement, they will
be sold in compliance with the plan of distribution set forth therein, and acknowledges that the removal of the restrictive legend from certificates representing the Shares and the Warrant Shares as set forth in this Section 6.1 is
predicated upon HPPI’s reliance upon this understanding. 
 6.2 Integration. HPPI shall not sell, offer for sale or solicit
offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of any of the Securities in a manner that would require the registration under the
Securities Act of the sale of any of the Securities or that would be integrated with the offer or sale of any of the Securities for purposes of the rules and regulations of any Trading Market such that it would require shareholder approval prior to
the closing of such other transaction unless shareholder approval is obtained before the closing of such subsequent transaction. 
 6.3
Securities Laws Disclosure; Publicity. HPPI shall (a) by 9:30 a.m. (New York City time) on the Trading Day immediately following the Signing Date, issue a press release disclosing the material terms of the transactions contemplated
hereby, and (b) file a Current Report on Form 8-K, including the Transaction Documents as exhibits thereto, with the Commission within the time required by the Exchange Act. HPPI and Mayne Pharma shall consult with each other in issuing any
other press releases with respect to the transactions contemplated hereby, and neither HPPI nor Mayne Pharma shall issue any such press release nor otherwise make any such public statement without the prior consent of HPPI, with respect to any press
release of Mayne Pharma, or without the prior consent of Mayne Pharma, with respect to any press release of HPPI, which consent shall not unreasonably be withheld or delayed, except if such disclosure is required by law or any Trading Market, in
which case the disclosing party shall promptly provide the other party with prior notice of such public statement or communication. 

  
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 6.4 Shareholder Rights Plan. No claim will be made or enforced by HPPI or, with the
consent of HPPI, any other Person, that Mayne Pharma is an “acquiring person” under any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or similar anti-takeover plan or
arrangement in effect or hereafter adopted by HPPI, or that Mayne Pharma could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving any of the Securities under the Transaction Documents or under any other
agreement between HPPI and Mayne Pharma. 
 6.5 Indemnification of Mayne Pharma, Etc. Subject to the provisions of this
Section 6.5, HPPI will indemnify and hold Mayne Pharma and Mayne Pharma’s directors, officers, shareholders, members, partners, employees and agents (and any other Person with a functionally equivalent role of a Person holding such
titles notwithstanding a lack of such title or any other title), each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) Mayne Pharma, and the directors, officers, shareholders,
agents, members, partners or employees (and any other Person with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title) of such controlling Persons (each, a “Mayne Pharma
Party” and collectively, the “Mayne Pharma Parties”) harmless from and against any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in
settlements, court costs and reasonable attorneys’ fees and costs of investigation that any Mayne Pharma Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or
agreements made by HPPI in this Agreement or in any other Transaction Document or (b) any Action instituted against the Mayne Pharma Parties in any capacity, or any of them or their respective Affiliates with respect to any of the transactions
contemplated by the Transaction Documents (unless such Action is based upon a breach of such Mayne Pharma Party’s representations, warranties or covenants under the Transaction Documents or any violations by such Mayne Pharma Party of state or
federal securities laws or any conduct by such Mayne Pharma Party which constitutes fraud, gross negligence, willful misconduct or malfeasance). If any Action shall be brought against any Mayne Pharma Party in respect of which indemnity may be
sought pursuant to this Agreement, such Mayne Pharma Party shall promptly notify HPPI in writing, and HPPI shall have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to such Mayne Pharma Party. Any such
Mayne Pharma Party shall have the right to employ separate counsel in any such Action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Mayne Pharma Party except to the extent that
(i) the employment thereof has been specifically authorized by HPPI in writing, (ii) HPPI has failed after a reasonable period of time to assume such defense and to employ counsel or (iii) in such Action there is, in the reasonable
opinion of counsel, a material conflict on any material issue between the position of HPPI and the position of such Mayne Pharma Party, in which case HPPI shall be responsible for the reasonable fees and expenses of no more than one such separate
counsel of such Mayne Pharma Party. HPPI will not be liable to any Mayne Pharma Party under this Agreement (y) for any settlement by a Mayne Pharma Party effected without HPPI’s prior written consent, which shall not be unreasonably
withheld or delayed; or (z) to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any Mayne Pharma Party’s breach of any of the 

  
 26 

 
representations, warranties, covenants or agreements made by such Mayne Pharma Party in this Agreement or in the other Transaction Documents. The indemnification required by this
Section 6.5 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or are incurred. The indemnity agreements contained herein shall be in addition to any
cause of Action or similar right of any Mayne Pharma Party against HPPI or others and any liabilities HPPI may be subject to pursuant to law. 

6.6 Use of Proceeds. HPPI shall use the net proceeds from the Purchase (a) to conduct the Basal Cell Carcinoma Nevus Syndrome
clinical program for the Product, (b) to prepare the appropriate regulatory documents to progress an FDA new drug application for the Product, (c) to develop and progress the intellectual property strategy of HPPI, (d) to conduct any
additional clinical programs recommended by the JDC and approved by the Board of Directors, and (e) for working capital purposes, and shall not use such proceeds: (i) for the satisfaction of any portion of the Company’s debt (other
than payment of trade payables in the ordinary course of the Company’s business and prior practices), (ii) for the redemption of any Common Stock or Common Stock Equivalents, (iii) for the settlement of any outstanding litigation, or
(iv) in violation of FCPA or OFAC regulations. 
 6.7 Reservation of Common Stock. From the Closing Date until the date on which
the Warrant has been fully exercised, HPPI shall at all times have reserved for issuance, free of Liens, a sufficient number of shares of authorized and unissued Common Stock for the purpose of enabling HPPI to issue all of the Warrant Shares. 

6.8 Listing of Common Stock. HPPI agrees, if HPPI applies to have the Common Stock traded on any Trading Market other than its current
Trading Market, it will then include in such application all of the Shares and the Warrant Shares, and will take such other action as is necessary to cause all of the Shares and the Warrant Shares to be listed or quoted on such other Trading Market
as promptly as possible. For so long as the Common Stock trades or is listed for quotation on a Trading Market, HPPI agrees to use its commercially reasonable efforts to maintain the eligibility of the Common Stock for electronic transfer through
the Depository Trust Company or another established clearing corporation, including, without limitation, by timely payment of fees to the Depository Trust Company or such other established clearing corporation in connection with such electronic
transfer. 
 6.9 Certain Transactions and Confidentiality. Mayne Pharma covenants that neither it, nor any Affiliate acting on its
behalf or pursuant to any understanding with it will execute any purchases or sales of any of HPPI’s securities during the period commencing with the Signing Date and ending at such time that the transactions contemplated by this Agreement are
first publicly announced pursuant to the initial press release as described in Section 6.3 hereof. Mayne Pharma covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed by HPPI pursuant to
the initial press release as described in Section 6.3 hereof, Mayne Pharma will maintain the confidentiality of the existence and terms of this transaction and the information included in the Transaction Documents and the Disclosure
Schedules. Notwithstanding the foregoing, and notwithstanding anything contained in this Agreement to the contrary, HPPI expressly acknowledges and agrees that (i) Mayne Pharma makes no representation, warranty or covenant hereby that it will
not engage in effecting 

  
 27 

 
transactions in any securities of HPPI after the time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release as described in
Section 6.3 hereof, (ii) Mayne Pharma shall not be restricted or prohibited from effecting any transactions in any securities of HPPI in accordance with applicable securities laws from and after the time that the transactions
contemplated by this Agreement are first publicly announced pursuant to the initial press release as described in Section 6.3 hereof, and (iii) Mayne Pharma shall have no duty of confidentiality to HPPI or its Subsidiaries after the
issuance of the initial press release as described in Section 6.3 hereof. 
 6.10 Acknowledgment of Dilution. HPPI
acknowledges that the issuance of the Securities may result in dilution of the outstanding shares of Common Stock, which dilution may be substantial under certain market conditions. HPPI further acknowledges that its obligations under the
Transaction Documents, including, without limitation, its obligation to issue the Shares and the Warrant Shares pursuant to the Transaction Documents, are unconditional and absolute and not subject to any right of set off, counterclaim, delay or
reduction, regardless of the effect of any such dilution or any claim HPPI may have against Mayne Pharma and regardless of the dilutive effect that such issuance may have on the ownership of the other stockholders of HPPI. 

6.11 Equity Incentive Plan. HPPI covenants and agrees that, without the prior written consent of Mayne Pharma, the shares authorized to
be issued, granted or purchased under the EIP shall not exceed 32,583,475 shares of Common Stock. 
 6.12 Registration Rights. HPPI
agrees to provide to Mayne Pharma the rights and privileges set forth in the Registration Rights Agreement, more specifically set forth in the form attached hereto as Annex G (the “Registration Rights Agreement”). Each of
HPPI and Mayne Pharma agrees to be bound by the Registration Rights Agreement. 
 6.13 D&O Policy. HPPI agrees that it will
review the appropriate amount of insurance coverage under the D&O Policy at least once every six (6) months and promptly increase such amount if approved by the Board. 

6.14 Certificate of Amendment to Certificate of Incorporation. No later than thirty (30) days after the Effective Date, HPPI shall
have executed and filed, or caused to be executed and filed, the Certificate of Amendment to Certificate of Incorporation of HPPI, the form of which is attached hereto as Annex H (the “Certificate of Amendment”). 

ARTICLE VII 

MISCELLANEOUS  
 7.1
Termination. 
 (a) Notwithstanding anything in this Agreement to the contrary, this Agreement and the obligations of the parties
hereunder may be terminated on or prior to the Closing as follows: 
 (i) by HPPI or Mayne Pharma if the Closing shall not have taken place
within five (5) Business Days after the Signing Date or by such later date as shall be agreed upon by an appropriate amendment to this Agreement; provided that a party shall not have the 

  
 28 

 
right to terminate under this Section 7.1(a)(i) if the conditions precedent to such party’s obligation to close have been fully satisfied and such party has failed or refused to
close after being requested in writing to close by the other party; or 
 (ii) by HPPI and Mayne Pharma upon their mutual written consent.

 (b) In the event of the termination of this Agreement as provided in Section 7.1(a), this Agreement shall forthwith become
void and there shall be no liability on the part of either party hereto, except that nothing herein shall relieve either party from liability for any breach of this Agreement by such party. 

7.2 Fees and Expenses. Except as expressly set forth in the Transaction Documents, each party shall pay the fees and expenses of its
advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. HPPI shall pay all Transfer Agent fees
(including, without limitation, any fees required for same-day processing of any instruction letter delivered by HPPI and any exercise notice delivered by Mayne Pharma), stamp taxes and other taxes and duties levied in connection with the delivery
of any of the Securities to Mayne Pharma. 
 7.3 Entire Agreement. This Agreement, together with the annexes, exhibits, and schedules
hereto, and the other Transaction Documents, together with the annexes, exhibits and schedules thereto, contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and
understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. 

7.4 Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in
writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered via facsimile at or prior to 5:30 p.m. (New York City time) on a Business Day, (b) the next
Business Day after the date of transmission, if such notice or communication is delivered via facsimile on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Business Day, (c) the second (2nd) Business Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be
given. All notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice. 

If to Mayne Pharma: 

Mayne Pharma Ventures Pty Ltd 

Level 14, 474 Flinders Street 

Melbourne, Vic 3000 
 Australia

 Attention: General Counsel 

Telephone: 61 3 8614 7711 

Facsimile: 61 3 9614 7022 

  
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 with a copy (which shall not constitute notice) to its counsel: 

Miller & Martin PLLC 

1180 West Peachtree Street, N.E., Suite 2100 

Atlanta, Georgia 30309 

Attention: A. Josef DeLisle, Esq. 

Facsimile: (404) 962-6338 

If to HPPI: 
 HedgePath
Pharmaceuticals, Inc. 
 324 Hyde Park Avenue #350 

Tampa, Florida 33606 

Attention: Nicholas Jon Virca 

Facsimile: (813) 258-6912 

with a copy (which shall not constitute notice) to its counsel: 

Ellenoff Grossman & Schole LLP 

1345 Avenue of the Americas, 11th Floor 

New York, New York 10105 

Attention: Barry I. Grossman, Esq. 

Facsimile: (212) 370-7889 

7.5 Amendments; Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument
signed, in the case of an amendment, by the duly authorized representatives of HPPI and Mayne Pharma or, in the case of a waiver, by the duly authorized representative of the party against whom enforcement of any such waived provision is sought. No
waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or
requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right. 

7.6 Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit
or affect any of the provisions hereof. 
 7.7 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit
of the parties and their successors and permitted assigns. HPPI may not assign this Agreement or any rights or obligations hereunder without the prior written consent of Mayne Pharma. Mayne Pharma may assign any or all of its rights under this
Agreement to any Person to whom Mayne Pharma assigns or transfers any of the Securities, provided that such transferee agrees in writing to be bound, with respect to the transferred Securities, by the provisions of the Transaction Documents that
apply to “Mayne Pharma.” 
 7.8 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties
hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth in Section 6.5 hereof. 

  
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 7.9 Governing Law. Each of the Transaction Documents and any dispute arising thereunder
shall be governed by and construed and enforced in accordance with the laws of the State of Delaware applicable to agreements made and to be performed wholly within such State, without regard to its conflict of law rules. 

7.10 Arbitration of Claims. In the event of any Action, question or disagreement arising from or relating to any Transaction Document
or the breach thereof, the parties hereto agree to settle such Action, question or disagreement by arbitration before a single arbitrator in Atlanta, Georgia, selected by, and such arbitration to be administered by, the American Arbitration
Association (“AAA”) in accordance with its International Arbitration Rules, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Each of the parties hereto agrees and
acknowledges that all Actions, questions or disagreements between or among them are subject to the alternative dispute resolution procedures of this Section 7.10. Each of the parties hereto agrees that any aspect of alternative dispute
resolution not specifically covered in this Agreement shall be covered, without limitation, by the applicable AAA rules and procedures. Each of the parties hereto further agrees that any determination by the arbitrator regarding any Action, question
or disagreement arising from or relating to this Agreement shall be final and binding upon the parties hereto and shall not be subject to further appeal. 

7.11 Survival. The representations, warranties and covenants contained herein shall survive the Closing and the delivery of the
Purchased Securities. 
 7.12 Execution. This Agreement may be executed in two or more counterparts, all of which when taken together
shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart. In the event that
any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with
the same force and effect as if such facsimile or “.pdf” signature page were an original thereof. 
 7.13 Severability. If
any term, provision, covenant or restriction of this Agreement or any of the Transaction Documents is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and
restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve
the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions,
covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

  
 31 

 7.14 Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained
in (and without limiting any similar provisions of) any of the other Transaction Documents, whenever Mayne Pharma exercises a right, election, demand or option under a Transaction Document and HPPI does not timely perform its related obligations
within the periods therein provided, then Mayne Pharma may rescind or withdraw, in its sole discretion from time to time upon written notice to HPPI, any relevant notice, demand or election in whole or in part without prejudice to its future Actions
and rights; provided, however, that in the case of a rescission of an exercise of the Warrant or any part thereof, Mayne Pharma shall be required to return any shares of Common Stock subject to any such rescinded exercise notice concurrently with
the return to Mayne Pharma of the aggregate exercise price paid to HPPI for such shares and the restoration of Mayne Pharma’s right to acquire such shares pursuant to the Warrant (including, issuance of a replacement warrant certificate
evidencing such restored right). 
 7.15 Replacement of Securities. If any certificate or instrument evidencing any of the Securities
is mutilated, lost, stolen or destroyed, HPPI shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but
only upon receipt of evidence reasonably satisfactory to HPPI of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including customary
indemnity) associated with the issuance of such replacement securities. 
 7.16 Remedies. In addition to being entitled to exercise
all rights provided herein or granted by law, including recovery of damages, each of Mayne Pharma and HPPI will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may not be adequate
compensation for any loss incurred by reason of any breach of obligations contained in the Transaction Documents and hereby agree to waive and not to assert in any Action for specific performance of any such obligation the defense that a remedy at
law would be adequate. 
 7.17 Payment Set Aside. To the extent that HPPI makes a payment or payments to Mayne Pharma pursuant to any
Transaction Document or Mayne Pharma enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or
preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to HPPI, a trustee, receiver or any other Person under any law (including, without limitation, any bankruptcy law, state or federal
law, common law or equitable cause of Action), then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made
or such enforcement or setoff had not occurred. 
 7.18 Saturdays, Sundays, Holidays, etc. If the last or appointed day for the
taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day. 

7.19 Construction. The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise
the Transaction Documents and, therefore, the 

  
 32 

 
normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents or any
amendments thereto. In addition, each and every reference to shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions
of the Common Stock that occur after the date of this Agreement. When a reference is made in this Agreement to “Recitals”, “Articles”, “Sections” or “Annexes”, such reference shall be to a Recital, Article or
Section of, or Annex to, this Agreement unless otherwise indicated. The terms defined in the singular have a comparable meaning when used in the plural, and vice versa. References to “herein”, “hereof”, “hereunder” and
the like refer to this Agreement as a whole and not to any particular section or provision, unless the context requires otherwise. All references to “$” or “dollars” mean the lawful currency of the United States of America.
Except as expressly stated in this Agreement, all references to any statute, rule or regulation are to the statute, rule or regulation as amended, modified, supplemented or replaced from time to time (and, in the case of statutes, include any rules
and regulations promulgated under the statute) and to any section of any statute, rule or regulation include any successor to the section. 

7.20 WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY EITHER PARTY HERETO AGAINST THE OTHER
PARTY HERETO, THE PARTIES HERETO EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

[Remainder of page intentionally left blank. 

Signature page immediately follows.] 

  
 33 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized signatories as of the date first indicated above. 
  

			
	HEDGEPATH PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Nicholas J. Virca

	Name:	 	Nicholas J. Virca
	Title:	 	President and Chief Executive Officer
	
	MAYNE PHARMA VENTURES PTY LTD
		
	By:	 	 /s/ Scott A. Richards

	Name:	 	Scott A. Richards
	Title:	 	Director

  
 Signature Page to
Securities Purchase AgreementMaster Clinical Services Agreement

 Exhibit 10.6 

FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 

 

***CONFIDENTIAL TREATMENT REQUESTED*** 

Note: Confidential treatment requested with respect to certain portions hereof denoted with “***”

  
 

 
 MASTER CLINICAL SERVICES AGREEMENT 

This Master Clinical Services Agreement (this “Agreement”) is executed as of 15 June, 2015 and made effective as of
29 September, 2014 (“Effective Date”), by and between SciQuus, Inc., a Delaware corporation, having a place of business at 4250 Executive Square, Suite 450, La Jolla, CA 92037 (hereinafter “SciQuus”), and HedgePath
Pharmaceuticals, Inc., a Delaware corporation having a place of business at 324 S. Hyde Park Avenue, Ste. 350 Tampa, Florida 33606 (hereinafter “Sponsor”). Sponsor and SciQuus are sometimes referred to herein individually as a
“Party” and together as the “Parties.” 
  

	 	A.	Sponsor may conduct one or more studies (each, a “Study”) involving one or more of Sponsor’s proprietary compounds (each, a “Study Drug”); and 

 

	 	B.	Sponsor wishes to retain the services of SciQuus to provide certain services to Sponsor with respect to one or more Studies, subject to the terms and conditions of this Agreement; and 

 

	 	C.	SciQuus is willing to provide such services to Sponsor in accordance with the terms and conditions of this Agreement. 

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

	1.	SCOPE OF THE AGREEMENT; SERVICES 

  

	 	1.1.	Scope of the Agreement 

 As a “master” form of contract, this Agreement allows
the parties to contract for multiple projects through the issuance of multiple Statements of Work (as discussed in Section 1.2 below), without having to re-negotiate the basic terms and conditions contained herein. This Agreement covers the
provision of services by SciQuus and, accordingly, this Agreement represents a vehicle by which Sponsor can efficiently contract with SciQuus and its corporate affiliates for a broad range of services. 

 

	 	1.2.	Services 

 The specific details of each project under this Agreement shall be negotiated and specified in
writing on terms and in a form acceptable to the parties (each such writing, a “Statement of Work”). Each Statement of Work shall specify the nature of the applicable Study, the Study Drug(s) being tested in 

  
  

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IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

 
the Study, the protocol under which the Study is to be conducted (as amended from time to time, in accordance with this Agreement, the “Protocol”), the Services to be performed by
SciQuus and any deliverables to be provided by SciQuus in connection with such Services (the “Deliverables”), as well as the terms and conditions (including, to the extent applicable, the scope of work, specifications, delivery and
performance schedules, budget and payment schedule, and fees) under which SciQuus will perform such Services. Additionally, each Statement of Work shall describe any Sponsor obligations with respect to such Study that are transferred to SciQuus. No
Statement of Work shall be binding unless approved in a writing signed by authorized representatives of both SciQuusand Sponsor. Each Statement of Work shall be subject to all of the terms and conditions of this Agreement, in addition to the
specific details set forth in the Statement of Work. To the extent any terms or provisions of a Statement of Work conflict with the terms and provisions of this Agreement, the terms and provisions of this Agreement shall control, except to the
extent that the applicable Statement of Work expressly and specifically states an intent to supersede the Agreement on a specific matter. All Statement of Works and other exhibits hereto shall be deemed to be incorporated herein by reference.
Without limiting the foregoing, SciQuus may also perform any incidental services, functions or responsibilities not specifically described in a Statement of Work, but that are nevertheless reasonably required for the proper performance and provision
of the Services. Any changes to the scope of an executed Statement of Work shall be negotiated in good faith and approved in a writing signed by authorized representatives of both SciQuus and Sponsor. 

 

	 	1.3.	Change Orders 

 Any change in the details of Statement of Work or changes in an agreed
starting date for Services) may require changes in the budget and/or timelines, and shall require a written amendment to the Statement of Work (a “Change Order”). Sponsor may initiate a Change Order on notice to SciQuus. Each Change Order
shall detail the requested changes to the applicable task, responsibility, duty, budget, timeline or other matter. The Change Order will become effective upon the execution of the Change Order by both Parties, and SciQuus will be given a reasonable
period of time within which to implement the changes. Both Parties agree to act in good faith and promptly when considering a Change Order requested by the other Party. Without limiting the foregoing, Sponsor agrees that it will not unreasonably
withhold approval of changes in pricing or timelines reasonably requested by SciQuus in connection with a Change Order, even if it involves a fixed price contract, if the proposed changes in budgets or timelines result from, among other appropriate
reasons, forces outside the reasonable control of SciQuus or changes in the assumptions upon which the initial budget or timelines are based, including, but not limited to, the assumptions set forth in the budget or timelines. For any Change Order
that affects the scope of the regulatory obligations that have been transferred to SciQuus, SciQuus and Sponsor shall execute a corresponding amendment to the Transfer of Obligations Form. Sponsor shall file such amendment where appropriate, or as
required by law or regulation. 
  

	 	1.4.	Deliverables 

 SciQuus shall perform the Services and provide all Deliverables and
related documentation in accordance with this Agreement, the applicable Statement of Work, Current Good Clinical Practice, all applicable laws, regulations and guidelines (including with respect to the conduct of clinical trials and the collection
of personal information), all applicable regulatory agency requirements (including any specified by the U.S. Food and Drug Administration (“FDA”) or any other domestic or 

  
  

4275 Executive Square, Suite 440 ● La Jolla ● CA 92037 ● (858) 642-0386 ● www.sciquus.com 

 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

 
international governmental or regulatory authority (collectively with FDA, each, an “Agency” and collectively the “Agencies”) and Sponsor’s instructions. All Deliverables
shall be deemed accepted and approved by Sponsor unless Sponsor provides written notice to SciQuus of specific non-performance and a list of what should be corrected and how. SciQuus shall promptly dispute Sponsor’s findings of non-conformity
or should SciQuus not promptly dispute Sponsor’s findings of non-conformity, then, without limitation, SciQuus shall correct any non-conformance, at SciQuus’ cost, within thirty (30) days of notice thereof. In the event of a dispute,
the Parties shall enter into good faith discussions to resolve the dispute. Should dispute resolution yield confirmation of any such non-conformity, SciQuus shall correct such non-conformance, at SciQuus’ cost, within thirty (30) days of
the date of such dispute resolution, or, at SciQuus’s election, remit to Sponsor the amount actually received by SciQuus for the non-conforming item. 
  

	 	1.5.	Personnel 

 SciQuus shall have the right to provide Services hereunder through its
affiliates, provided that SciQuus remains fully responsible to Sponsor for the performance of, and acts and omissions of, such affiliates. SciQuus shall check on the performance of all employees (including the Project Manager as defined below),
agents, SciQuus selected subcontractors, and affiliates who provide Services hereunder (collectively “Personnel”, with any Personnel who are not direct employees of SciQuus being subject to Sponsor’s prior written approval prior to
providing any Services hereunder). SciQuus shall seek to assign Personnel who are trained, qualified, and experienced in providing the Services, and shall instruct any Personnel assisting with the Services to comply with all applicable laws and
regulations and all provisions of this Agreement, including without limitation, by requiring Personnel to sign intellectual property assignment and confidentiality and nondisclosure agreements sufficient to enable SciQuus to comply with this
Agreement. SciQuus shall make reasonable efforts to ensure that Personnel do not have any conflict of interest, are not ineligible to participate in any federal and/or state healthcare programs or federal procurement or not procurement programs, are
not disqualified from performing specific services, and have not been convicted of a criminal offense related to the provision of healthcare items or services. SciQuus shall provide immediate notice to Sponsor if SciQuus becomes aware that any
Personnel is subject to any such circumstance or action, or if it is pending or, to SciQuus’ knowledge, threatened. 
  

	 	1.6.	Project Manager 

 SciQuus shall appoint one of its employees as the “Project
Manager” for each Statement of Work. The Project Manager shall be responsible for interacting with the Sponsor on all aspects of the Services under such Statement of Work through completion of such Services. Such Project Manager shall
coordinate with the Sponsor contact named in such Statement of Work for the performance of the Services. 
  

	 	1.7.	Reports and Assistance 

 At the cost and expense of Sponsor (i.e., charged to Sponsor in
accordance with Section 3), SciQuus shall provide Sponsor with written and/or oral reports as Sponsor may reasonably request, on the status of the Services under this Agreement and Personnel from SciQuus shall attend all meetings as reasonably
requested by Sponsor, including meetings with the FDA or other applicable Agency, and will provide Sponsor with all cooperation and assistance reasonably required in connection with informal 

  
  

4275 Executive Square, Suite 440 ● La Jolla ● CA 92037 ● (858) 642-0386 ● www.sciquus.com 

 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

 
presentations and administrative hearings with any Agency as related to the Services. In no event shall SciQuus or any Personnel provide any information relating to the Study or the Study Drug to
any Agency without Sponsor’s prior written approval except for information that has been previously provided to an Agency with Sponsor’s written approval. SciQuus should promptly notify Sponsor of any significant deviation from the
Protocol and any serious adverse drug experience (including within any titneframe specified by applicable laws, regulations and guidelines). SciQuus should keep Sponsor informed, on a regular and frequent basis, of the progress of the Study and any
relevant information regarding the Study. 
  

	 	1.8.	Records and Audit Rights 

 SciQuus shall, and shall cause its Personnel to, preserve its
accurate records, accounts, notes, reports and data obtained or generated in the course of providing the Services and its activities hereunder, including all computerized records and files, in a secure area reasonably protected from fire, other
natural hazards, theft, and destruction. During the term of this Agreement and for a period of two (2) years thereafter, and upon reasonable advance notice and during normal business hours, SciQuus will permit Sponsor or representatives of
Sponsor to examine or audit the work performed hereunder, the books and records directly relating to the Study and the Services, any Costs (as defined below), and the facilities at which the Study and Services are conducted to determine that the
Study and Services are being conducted in accordance with this Agreement, that the facilities and personnel are adequate, and to verify amounts charged to Sponsor hereunder. SciQuus shall fully cooperate in any audit conducted hereunder, and shall
provide reasonable access to any and all employees, agents and other representatives of SciQuus, including Personnel. SciQuus acknowledges that Sponsor shall also have the right to copy and remove such copies of any Study documents referred to
herein at any time. SciQuus shall be entitled, at its own expense, to retain a single copy of the books and records as is reasonably necessary to comply with its regulatory obligations or to demonstrate the satisfaction of its obligations hereunder,
all subject to the confidentiality obligations set forth in Section 3. 
  

	 	1.9.	Inspection Rights 

 If the FDA or any Agency conducts, or gives notice to SciQuus of its
intent to conduct an inspection related to the Study or the Services at SciQuus’ facilities, or at any other facilities conducting the Study or providing Services under this Agreement, or takes any other regulatory action related to the Study
or the Services, SciQuus shall promptly give Sponsor notice thereof, including all information reasonably required in connection therewith. SciQuus shall cooperate with any Agency and allow them access to all applicable records and data. Sponsor and
its representatives shall have the right to be present at any such inspection or other regulatory action. In any event, if any Agency issues a notice of observations or other similar document related to the Study or the Services, SciQuus shall send
a copy of such document promptly to Sponsor, along with the draft response to such document before it is sent to the applicable Agency. SciQuus shall provide Sponsor with copies of all information, materials, correspondence and documents that
SciQuus or any Personnel receives, obtains, or generates pursuant to any such inspection or in connection with any inquiries, communications or correspondence from any Agency related to the Study or the Services. SciQuus shall make reasonable
efforts to segregate, and not disclose, any Sponsor Confidential Information and other materials, correspondence and documents that are not required to be disclosed during such an inspection, including financial data and pricing information. All of
this shall be at Sponsor’s expense. 

  
  

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HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

	 	1.10.	Investigator Payments 

 If SciQuus will be paying Investigators on behalf of Sponsor, the
Parties will agree in the applicable Statement of Work as to a schedule of amounts to be paid to Investigators. Sponsor acknowledges and agrees SciQuus will only pay Investigators from advances or pre-payments received from Sponsor for
Investigators’ services, and that SciQuus will not make payments to Investigators prior to receipt of sufficient funds from Sponsor. Sponsor acknowledges and agrees that SciQuus will not be responsible for delays in a study or Project to the
extent that such delays are caused by Sponsor’s failure to make adequate pre-payment for Investigators’ services or Investigators’ delays. Sponsor further acknowledges and agrees that payments for Investigators’ services are
pass-through payments to third parties and are separate from payments for SciQuus’ Services. SciQuus agrees that it will not withhold Investigator payments except to the extent that it has reasonable questions about the services performed by a
particular Investigator. 
  

	 	1.11.	Patient Enrollment 

 Although enrollment numbers are good faith estimates, SciQuus shall
exercise all reasonable diligent efforts to meet such enrollment estimates. 
  

	2.	COMPENSATION 

  

	 	2.1.	Fees and Expenses 

 Sponsor shall pay SciQuus the fees specified in each Statement of
Work (“Fees”) as SciQuus’ sole and complete compensation for all Services, Deliverables, and Intellectual Property rights provided by SciQuus under this Agreement. Except as otherwise stated in this Agreement, no other fees or
reimbursements shall be owed by Sponsor under this Agreement. 
  

	 	2.2.	Invoicing and Payment 

 Unless a different billing cycle is approved by SciQuus in
writing, SciQuus generally will issue its invoices on a monthly basis. The amounts due as stated on SciQuus’ statements shall be deemed to be correct, conclusive and binding on Sponsor unless Sponsor notifies SciQuus in writing, within thirty
(30) days from the date the particular billing is mailed, that Sponsor disputes such charge. SciQuus’ statements are due and payable upon receipt. All unpaid amounts for more than *** bear interest at the rate of *** on the unpaid amount.
If Sponsor fails to pay SciQuus’ statements within *** of the statement date, SciQuus reserves the right to require an additional deposit in an amount determined by SciQuus or to terminate the term of this Agreement. Payment shall be mailed to:

 SciQuus, Inc. 
 4250
Executive Square, Suite 450 
 La Jolla, CA 92037 

Any changes to the payee information set forth above require written notice signed by SciQuus’ chief financial officer. 

  
  

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 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

	 	2.3.	Currency; Taxes 

 All payments shall be made in U.S. Dollars and are inclusive of
all sales, use, value added, withholding and other taxes and duties. 
  

	3.	CONFIDENTIALITY 

  

	 	3.1.	Definitions 

 Sponsor’s “Confidential Information” means any and all
proprietary and confidential information disclosed to SciQuus or its Personnel by or on behalf of Sponsor, in the conduct of the Study or generated by SciQuus or its Personnel in providing the Services hereunder (and by any clinical sites conducting
the Study under an agreement with SciQuus or Personnel), including but not limited to the Study Drug, technical information relating to the Study Drug, the Protocol, research, or communications to and from the FDA or other applicable regulatory
authorities or other third parties, including any clinical data or other information received from sites participating in any clinical studies or any data safety monitoring boards. Sponsor’s “Confidential Information” also includes
Data and Inventions as defined in Section 4.1. SciQuus’ “Confidential Information” shall mean, other than Sponsor’s Confidential Information, any other proprietary and confidential information disclosed to Sponsor by or on
behalf of Personnel regarding SciQuus’ business or financial information, SciQuus’ business methodologies and processes, SciQuus proposals and pricing, and Personnel information (other than as necessary to make use of Sponsor Confidential
Information). Further, any proprietary and confidential information of a third party disclosed, obtained, or observed by Sponsor or its representatives during an audit of SciQuus or an affiliate of SciQuus, or the facilities of either, with the
exception of Sponsor’s Confidential Information, shall be treated as confidential by Sponsor in accordance with the terms contained herein. In each case, Confidential Information shall not include information of a disclosing party that
(i) as evidenced by written documentation, was already known to the receiving Party prior to disclosure by the owning Party; (ii) is in or has entered the public domain through no breach of this Agreement or other wrongful act of the
receiving Party; (iii) has been rightly received from a third party who is not under any obligation of confidentiality with respect to such information; or (iv) subject to Section 3.3 below, is required by applicable laws, rule,
regulation (including, without limitation, the rules and regulations of the U.S. Securities and Exchange Commission, the FDA or any other Agency or judicial or administrative action to be disclosed by the disclosing party. 

 

	 	3.2.	Obligations 

 SciQuus shall use Sponsor Confidential Information only as necessary to perform the
Services under this Agreement, and Sponsor shall use SciQuus Confidential Information only as necessary to receive the benefit and make use of the Services. To protect Confidential Information, each Party shall (i) limit dissemination of the
other Party’s Confidential Information to only those of its personnel having a “need to know”; (ii) advise all personnel who receive such Confidential Information of the confidential nature of such information; (1) obtain
agreements from personnel containing confidentiality and nondisclosure obligations at least as strict as those set forth in this Agreement prior to disclosure of such Confidential Information and ensure compliance of such agreements by such
personnel; and (iv) hold all of the other Party’s Confidential Information in strict confidence and take all action reasonably necessary to protect such Confidential Information from unauthorized use, access, duplication, disclosure, loss
or damage. 

  
  

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	 	3.3.	Compelled Disclosure 

 If a Party is required to disclose the other Party’s
Confidential Information by order of any Agency, applicable laws or regulations (including, without limitation, the rules and regulations of the U.S. Securities and Exchange Commission), or judicial or administrative order, such compelled Party
shall promptly notify the owning Party so that the owning Party may seek a protective order or other remedy (it being agreed that Sponsor is a U.S. publicly listed and reporting company and as such is required (and shall be permitted without
notification to SciQuus or the right of SciQuus to seek any protective or other order) to make legally required public disclosures). In the event that such protective order or other remedy is not obtained, disclosure shall be permitted but shall be
limited to only that portion of the Confidential Information which is legally required to be disclosed. 
  

	 	3.4.	Publicity 

 SciQuus shall not issue press releases or engage in any interviews or other
contacts with the media, including but not limited to newspapers, radio, television, and the Internet (including through any social network sites) related to the Study, the Study Drug, or the Services, without Sponsor’s prior written and
express approval. The Parties shall not use the name, insignia, symbol, trademark, trade name or logotype of the other Party (or any abbreviation or adaptation thereof), without the other Party’s prior written and express approval.
Notwithstanding the foregoing, each Party may use the name or trade name of the other Party as permitted by this Agreement, or when required by law, rule or regulation as reasonably determined by the Party making the disclosure. SciQuus shall not
publish any articles or make any presentations relating to the non-public Study or Services provided to Sponsor hereunder or referring to non-public data, information or materials generated as part of the Study Services without the prior written
consent of Sponsor. 
  

	 	3.5.	Remedy 

 Each Party agrees and acknowledges that any such violation or threatened
violation of Section 3 by such Party may cause irreparable injury to the other Party, and that, in addition to any other remedies that may be available, in law, in equity or otherwise, the other Party shall be entitled to seek injunctive relief
against the threatened breach of this Agreement or the continuation of any such breach. 
  

	4.	INTELLECTUAL PROPERTY 

  

	 	4.1.	Sponsor Data and Inventions 

 All data, information, reports, analyses, results and other work product
(including all Deliverables) generated, derived or prepared by SciQuus or Personnel (or any clinical sites conducting the Study under an agreement with SciQuus or Personnel) as a result of the Services performed under this Agreement, in whole or in
part, and whether alone or in conjunction with others (collectively,“Data”) shall be the sole and exclusive property of Sponsor, and shall be treated by SciQuus and 

  
  

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Personnel as Sponsor Confidential Information. All discoveries, inventions, improvements, new uses, processes, techniques, and compounds, whether patentable or not, made, conceived or reduced to
practice as a direct result of the Services performed under this Agreement whether by SciQuus or Personnel (or clinical sites conducting the Study under an agreement with SciQuus or Personnel), whether in whole or in part, and whether alone or in
conjunction with others (collectively referred to hereinafter as “Inventions”), shall also be the sole and exclusive property of Sponsor with full right of ownership, title, and interest thereto and therein. SciQuus shall promptly and
fully disclose to Sponsor any Inventions arising under this Agreement. SciQuus agrees that, to the extent permissible under applicable law, all copyrightable works in the Data and Inventions shall constitute “work made for hire” for which
Sponsor shall hold the exclusive copyright. SciQuus, on behalf of itself and Personnel, hereby unconditionally assigns, and agrees to assign, to Sponsor, any and all right, title and interest in and to any such Data and Inventions, including,
without limitation, all patents, copyrights, and other intellectual property and proprietary rights therein and all rights of action and claims for damages and benefits arising due to past and present infringement of said rights by third parties.
SciQuus shall, and shall cause Personnel (and any clinical sites conducting the Study under an agreement with SciQuus or Personnel), to (i) fully cooperate with Sponsor and its designees in obtaining and maintaining in Sponsor’s name, and
at Sponsor’s sole cost and expense, any patent or other intellectual property protection as may be available with respect to such Data and Inventions, and (ii) execute all documents reasonably deemed necessary by Sponsor and designees for
purposes of procuring and maintaining in Sponsor’s name such patent or other intellectual property protection, and all documents necessary for effectuating assignment of Data or Inventions to Sponsor and/or perfecting, recording, or otherwise
giving effect to such assignment. SciQuus, on behalf of itself and Personnel (and any clinical sites conducting the Study under an agreement with SciQuus or Personnel) also hereby (x) irrevocably transfers and assigns to Sponsor any and all
Moral Rights that SciQuus and Personnel (and any such clinical sites) may have in any Data and Inventions; and (y) forever waives and agrees to never assert against Sponsor, its successors or licensees any and all Moral Rights SciQuus and
Personnel (and any such clinical sites) may have in any Data and Inventions, even after expiration or termination of this Agreement. The term “Moral Rights” shall mean any right to claim authorship of Data or an Invention, any right to
object to any distortion or other modification of Data or an Invention, and any similar right, existing under the law of any country in the world or under any treaty. SciQuus shall obtain from all Personnel agreements enabling it to carry out
SciQuus’ obligations under this Section. Notwithstanding the foregoing, Sponsor shall be estopped from asserting its rights in such data and inventions against SciQuus as provided in this Section or otherwise unless and until SciQuus has been
paid in full. 
  

	 	4.2.	SciQuus Property 

 SciQuus possesses certain inventions, processes, technology, know-how, trade secrets,
improvements, other intellectual property and assets, including, without limitation, those related to business or product plans or proposals, marketing strategies, standard operating procedures, composition of matter, research, experimental results,
personnel data, financial information and conditions, pricing information, third party customer information, supplier/vendor information, raw materials, data collection and data management processes, laboratory analysis techniques, analytical,
biotechnology and clinical methods, procedures and techniques, computer technical expertise and software (including code), in each case which have been developed independently from the Services 

  
  

4275 Executive Square, Suite 440 ● La Jolla ● CA 92037 ● (858) 642-0386 ● www.sciquus.com 

 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

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IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

 
and without the benefit of any Confidential Information of Sponsor (collectively, “SciQuus Property”). Sponsor and SciQuus agree that any SciQuus Property or revisions, improvements or
enhancements thereto shall be the sole and exclusive property of SciQuus, and Sponsor shall have no rights, title and interest to such SciQuus Property. Notwithstanding the foregoing, nothing herein shall give SciQuus any rights in, and SciQuus
Property shall exclude, any Confidential Information of Sponsor, including without limitation any Data, Invention, data or information specific and exclusive to the Study or the Study Drug, even if it is incorporated into a revision, improvement or
enhancement to SciQuus Property. Subject to this Agreement, Sponsor is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, and use any SciQuus Property that is
incorporated into any Invention or Data to the extent as is reasonably necessary to obtain the benefit of the Invention or Data. Sponsor may freely sublicense and/or transfer the rights granted in the preceding sentence in connection with the
development, manufacturing, or commercialization of the Study Drug or other Sponsor products. 
  

	 	4.3.	No License 

 Neither anything contained to the contrary herein, nor the delivery of any
information to a Party hereto, shall be deemed to grant the other Party any right or license under any patent or patent application or to any know-how, technology or invention of the owning Party who discloses such information other than as
expressly set forth herein. 
  

	5.	TERMINATION 

  

	 	5.1.	Term 

 This Agreement shall take effect as of the Effective Date, and unless earlier
terminated pursuant to Section 5.2, shall terminate upon the completion of the Services. 
  

	 	5.2.	Termination Process 

 Either Party may terminate this Agreement for material breach by
the other Party thereof, if such breach continues uncured for a period of *** after written receipt of notice thereof. Sponsor may terminate the Services in whole or in part, with or without cause, effective upon *** written notice. 

 

	 	5.3.	Effects of Termination 

 Upon notice of termination or expiration of this Agreement,
SciQuus shall use reasonable efforts to reduce or eliminate further costs and expenses. Sponsor shall pay SciQuus for those Services performed and expenses incurred (including future third party expenses to which SciQuus is irrevocably committed, to
the extent reasonably incurred and consistent with the applicable Budget) through the effective date of termination. In no event shall either party be responsible for any lost profits or lost opportunities. SciQuus shall promptly refund any funds or
advances received for Services not yet rendered upon the effective date of termination. SciQuus shall assist Sponsor with the orderly transfer of any SciQuus obligations and the Services to Sponsor or its designee as expeditiously as possible, at
Sponsor’s expense, and render all assistance reasonably requested in 

  
  

4275 Executive Square, Suite 440 ● La Jolla ● CA 92037 ● (858) 642-0386 ● www.sciquus.com 

 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

 
connection therewith. In addition, each Party, in its role as a receiving Party, shall return all Confidential Information of the other Party and all copies thereof in such Party’s control
or possession, including, to the extent reasonably practicable, purging all electronic copies from any computer systems; provided, however, that each Party may retain a single copy of certain Confidential Information of the other Party as required
by law, which copy shall remain subject to the confidentiality obligations contained herein. The election by either Party to terminate this Agreement in accordance with its terms shall not be deemed an election of remedies, and all other remedies
provided by this Agreement or available at law or in equity shall survive any termination. 
  

	 	5.4.	Return of Materials 

 Upon the termination or expiration of this Agreement and payment in
full of SciQuus, SciQuus shall deliver to Sponsor all data and materials provided by or on behalf of Sponsor to SciQuus for the conduct of the Study and the Services. All statistical data, all statistical reports, all data entries, and any other
documentation produced as the result of the Study and all Services, including all Deliverables (whether or not complete) shall be delivered to Sponsor as soon as possible after termination unless the Parties agree in writing that SciQuus shall
retain certain data and materials as specified in writing for a period of time, in which case such items shall continue to be subject to the confidentiality obligations set forth herein. 

 

	 	5.5.	Survival 

 Sections 1.7-1.9, 2-4, 5.3-5.5, and 6-10 shall survive expiration or
termination of this Agreement for any reason. 
  

	 	5.6.	Wind Down 

 Upon the termination of this Agreement, SciQuus shall cooperate with Sponsor
and its designee to provide for an orderly wind-down of the Services provided by SciQuus and Personnel hereunder. 
  

	6.	INDEMNIFICATION 

  

	 	6.1.	By SciQuus 

 SciQuus shall indemnify, defend, and hold harmless Sponsor, its affiliates,
and their respective officers, directors, employees, and agents (“Sponsor Indemnified Parties”) from and against any third party claims, actions, or proceedings (“Claims”) against a Sponsor Indemnified Party, to the extent
related to or arising from this Agreement and caused by: (i) a SciQuus Indemnified Party’s (as defined below) grossly negligent acts or omissions or willful misconduct; (ii) breach of this Agreement by SciQuus; (iii) a SciQuus
Indemnified Party’s grossly negligent failure to comply with applicable laws, rules and regulations (including without limitation any applicable data privacy laws) and any instructions provided by or on behalf of Sponsor; (iv) any
government or regulatory audits of SciQuus or Personnel; or (v) any claim that the Services or SciQuus Property used in the Services infringe the 

  
  

4275 Executive Square, Suite 440 ● La Jolla ● CA 92037 ● (858) 642-0386 ● www.sciquus.com 

 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

 
intellectual property rights of a third party; provided, however, that SciQuus shall not be liable for any Claims to the extent such Claims arise out of any Sponsor provided items or Sponsor
Indemnified Party’s negligent acts or omissions or willful misconduct or failure to comply with applicable laws, rules or regulations or Sponsor’s breach of this Agreement. 

 

	 	6.2.	By Sponsor 

 Sponsor shall indemnify, defend, and hold harmless SciQuus, its affiliates,
and their respective officers, directors, employees, and agents (collectively, the “SciQuus Indemnified Parties”) from and against any Claims against a SciQuus Indemnified Party, to the extent resulting from this Agreement and caused by:
(i) a Sponsor Indemnified Party’s negligent acts or omissions or willful misconduct, or (ii) breach of this Agreement by Sponsor; (iii) Sponsor’s failure to comply with applicable laws, rules or regulations governing its
obligations under this Agreement; (iii) bodily injury or death of any research subject participating in the Study, which injury was caused by (a) the Study Drug or other compounds required to be administered under the Protocol; or
(b) any procedures required to be performed on a research subject participating in the Study pursuant to the Protocol; or (iv) any claims for patent infringement related to the Study Drug or any compound required to be administered under
the Protocol in connection with this Agreement provided, however, that Sponsor is not liable for any Claims to the extent such Claims arise out of SciQuus Indemnified Party’s grossly negligent acts or omissions or willful misconduct or failure
to comply with applicable laws, rules or regulations or SciQuus breach of the Agreement. 
  

	 	6.3.	Conditions of Indemnity 

 The indemnitee shall give the indemnitor prompt notice of any
Claim (including a CODY thereof) as to which it claims a right of indemnification hereunder and shall fully cooperate with the indemnitor and its legal representatives in the investigation, negotiation and/or resolution of any matter that is the
subject of the other Party’s indemnification. The indemnitor shall have the right to exercise sole control over the defense and settlement of any such Claim, including the sole right to select defense counsel and to direct the defense or
settlement of any such Claim; provided that the indemnitor shall not enter into any settlement or admit fault or liability on the indemnitee’s behalf without the prior written consent of the indemnitee, which consent shall not be unreasonably
withheld, delayed, or conditioned. The indemnitee shall have the right to participate in, but not control, the defense and settlement of a claim and to employ separate legal counsel of its own choice provided, however, that such employment shall be
at the indemnitee’s own expense, unless the indemnitor has failed to assume the defense and employ counsel (in which case the indemnitee shall control the defense and settlement of such claim). The indemnitor shall be relieved of any
indemnification obligation hereunder if any Sponsor Indemnified Party or SciQuus Indemnified Party (as applicable) either (i) fails to follow the procedures set forth herein; (ii) negotiates, compromises or settles any Claim without the
indemnitor’s prior written approval; or (iii) makes any admission or takes any other action with respect to any such Claim that is prejudicial to the defense of such Claim the indemnitor’s prior written approval. 

  
  

4275 Executive Square, Suite 440 ● La Jolla ● CA 92037 ● (858) 642-0386 ● www.sciquus.com 

 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

	 	6.4.	Limitation of Liability 

 EXCEPT FOR LIABILITY ARISING FROM A PARTY’S WILLFUL
IMPROPER DISCLOSURE OR SPONSOR’S INFRINGEMENT OF ANOTHER’S INTELLECTUAL PROPERTY, NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL OR INDIRECT DAMAGES ARISING OUT OF OR IN CONNECTION WITH THIS
AGREEMENT, THE STUDY, OR THE STUDY DRUG (WHETHER IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, BY STATUTE OR OTHERWISE) EXCEPT FOR THE REGARDING INDEMNITY IN SECTION 6.1 OR 6.2, PERSONAL INJURY CLAIMS, NOR TO ANY ACTS OF GROSS NEGLIGENCE OR
WILLFUL MISCONDUCT. IT IS INTENDED THAT THIS LIMITATION SHALL APPLY EVEN IF SUCH PARTY HAS BEEN ADVISED OR IS AWARE OF THE POSSIBILITY OF SUCH DAMAGES. NOT WITHSTANDING ANY PROVISION TO THE CONTRARY, SCIQUUS’ TOTAL LIABILITY THEREUNDER SHALL
NEVER EXCEED THE AMOUNT SCIQUUS ACTUALLY RECEIVES UNDER THIS AGREEMENT. NOTWITHSTANDING ANY PROVISION TO THE CONTRARY, THE LIABILITY OF SCIQUUS SHALL NOT EXCEED THE AMOUNT SCIQUUS ACTUALLY RECEIVES FROM SPONSOR UNDER THIS AGREEMENT. 

 

	7.	INSURANCE 

 Each Party will maintain, for the duration of this Agreement, appropriate
insurance in an amount commercially adequate to cover such Party’s obligations, including Sponsor’s insurance obligations under its Supply and License Agreement with Mayne Pharma, hereunder and as may be required by applicable laws, and,
upon request, each Party will provide to the other Party a certificate of insurance showing that such insurance is in place. Such insurance, if on a claims-made basis, shall be maintained for the duration of the term of this Agreement and for not
less than the applicable statute of limitations pertaining to any third party claim. SciQuus shall take all reasonable steps to give Sponsor at least sixty (60) days prior written notice of the cancellation of such insurance. 

 

	8.	NOTICES 

 Any notices or payments under this agreement shall be in writing and delivered
to the Parties at the addresses set forth below, by (i) hand delivery, with notice deemed given upon receipt; (ii) first class certified mail, return receipt requested, with notice deemed given upon receipt; or (iii) a
nationally-recognized overnight courier service, with notice deemed given as of the date on the courier’s receipt. 
 If to SciQuus:

 SciQuus, Inc. 
 4250
Executive Square, Suite 450 
 La Jolla, California 92037 

Attention: Kevin de la Torre, CFO 

Tel: (858) 642-0386 

  
  

4275 Executive Square, Suite 440 ● La Jolla ● CA 92037 ● (858) 642-0386 ● www.sciquus.com 

 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

 If to Sponsor: 

HedgePath Pharmaceuticals, Inc. 

Address: 324 S. Hyde Park Ave, Suite 350 Tampa, 

Florida 33606 
 Attention:
Nicholas J. Virca 
 Tel: 813-864-2559 
  

	9.	INDEPENDENT CONTRACTOR 

 Each Party shall act solely as an independent contractor, and
nothing in this Agreement shall be construed to give either Party the power or authority to act for, bind, or commit the other Party in any way. Nothing herein shall be construed to create the relationship of partners, principal and agent, or
joint-venture partners between the Parties. 
  

	10.	MISCELLANEOUS 

  

	 	10.1.	Entire Agreement; Amendment 

 This Agreement, including the recitals and any Exhibits
attached hereto, all of which are incorporated herein by reference, constitutes the entire agreement among the Parties with respect to the subject matter herein and supersedes all prior and contemporaneous agreements, whether written or oral, of the
Parties hereto, relating to the subject matter herein. This Agreement may be modified, supplemented or amended only by a writing signed by authorized representatives of the Parties. 

 

	 	10.2.	Assignment 

 Neither Party may assign or transfer any of its rights or obligations under
this Agreement to any third party without the prior written consent of the other Party. Notwithstanding the foregoing, (i) SciQuus may use subcontractors to the extent permitted in Section 1.4; (ii) Sponsor may freely use
subcontractors to perform its obligations under exercise its rights under this Agreement and, in such event, Sponsor shall contract directly with such subcontractor; and (iii) either Party may transfer or assign its rights and obligations under
this Agreement to a successor to all or substantially all of its business or assets pertaining to the subject matter of this Agreement whether by sale, merger, operation of law or otherwise. This Agreement shall be binding upon, and shall inure to
the benefit of, the Parties, their legal representatives, and permitted successors, and assigns. Any attempted sale, pledge, assignment, or other transfer in violation of this Section shall be void and of no force or effect. Any party subcontracting
obligations under this Agreement remains fully responsible to the other party for the performance of, and acts and omissions of, such subcontractors. 

  
  

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 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

	 	10.3.	Governing Law; Severability 

 This Agreement and any disputes arising hereunder shall be
governed by and construed in accordance with the substantive laws of the State of California, without regard to its conflict of law rules. Exclusive jurisdiction of any disputes arising under or relating to this Agreement will lie in the Federal and
state courts located in San Diego, California. All proceedings and documents provided and generated in connection with any disputes hereunder shall be in the English language. If any provision of this Agreement is for any reason found to be
unenforceable, the remainder of this Agreement shall continue in full force and effect. 
  

	 	10.4.	No Waiver 

 Failure to enforce any rights hereunder, regardless of the length of time
such failure continues, shall not constitute a waiver of those or any other rights, unless in a writing signed by an authorized representative of the waiving Party. 
  

	 	10.5.	Data Privacy 

 Each Party shall comply with its obligations under any data privacy laws
that are applicable to the Study or this Agreement. 
  

	 	10.6.	Execution in Counterparts 

 This Agreement may be executed in counterparts, each of which
shall be deemed an original and all of which together shall constitute one and the same instrument. Each Party may execute this Agreement by facsimile transmission or in Portable Document Format (PDF) sent by electronic means. Signatures of
authorized signatories of the Parties transmitted by facsimile or sent by electronic means in Portable Document Format shall be deemed to be original signatures, shall be valid and binding, and, upon delivery, shall constitute due execution of this
Agreement. 
  

	 	10.7.	Force Majeure 

 To the extent either Party shall be delayed or hindered in or prevented
from the performance of any act required hereunder other than a payment obligation by reason of governmental or judicial orders or decrees, riots, insurrection, war, acts of God, or other causes reasonably beyond such Party’s control (each a
“Disability”), then performance of such act shall be excused for the period and to the extent of such Disability; provided that the Party incurring such Disability shall (i) provide prompt written notice to the other Party of the
commencement of such alleged Disability; and (ii) take all reasonable actions to resume performance of the affected acts as soon as possible thereafter. Any timelines affected by a Disability shall be extended for a period equal to that of the
Disability. 
  

	 	10.8.	Foreign Corrupt Practices Act 

 SciQuus and Personnel shall avoid any conflicts of
interest in performing the Services. SciQuus covenants and agrees on behalf of itself and Personnel, to adhere to and comply with all applicable U.S. and non-U.S. 

  
  

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 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

 
laws, including but not limited to anti-bribery measures such as the U.S. Foreign Corrupt Practices Act (the “FCPA”), and will not give, offer, agree or promise to give, or authorize
the giving directly or indirectly through any other person or firm, of any money or thing of value to any employee or official of any government, any employee or official of any public international organization, any political party or official or
employee of the same, or any candidate for political office, for the purpose of inducing or rewarding favorable action or the exercise of influence by such official, party or candidate in any governmental matter. Further, SciQuus and Personnel will
not give, offer or promise to give, or authorize the giving directly or indirectly through any person or firm, of any money or thing of value to any foreign party or its representative as an inducement or reward for the party or representative doing
or forbearing to do any act in relation to the business or affairs of SciQuus, Personnel or Sponsor, or for showing or forbearing to show favor or disfavor to any person in relation to the business or affairs of SciQuus, Personnel or Sponsor, in
connection with this Agreement or the business or affairs of Sponsor. SciQuus further represents and warrants that neither it nor Personnel nor any of their employees, partners, or agents are, or will become during the term of this Agreement,
government officials or employees, or candidates for political office in the government. SciQuus’ failure to comply with the provisions of all applicable Laws, including but not limited to the FCPA, may result in immediate termination of this
Agreement for cause by Sponsor at its election. 
 [Signature page follows.] 

  
  

4275 Executive Square, Suite 440 ● La Jolla ● CA 92037 ● (858) 642-0386 ● www.sciquus.com 

 FOIA CONFIDENTIAL TREATMENT REQUEST BY 

HEDGEPATH PHARMACEUTICALS, INC. 

IRS EMPLOYER IDENTIFICATION NUMBER 30-0793665 
  

 IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be duly executed as of
the date first written above, and effective as of the Effective Date, by their authorized representatives. 
 Executed for and on behalf of: 

 

									
	SCIQUUS, INC.	 		 	HEDGEPATH PHARMACEUTICALS, INC.
					
	By:	 	 

  
	 		 	By:	 	 

  

		 	John C. Gutheil, MD	 		 		 	Nicholas J. Virca
		 	Chief Executive Officer	 		 		 	President & CEO

  
  

4275 Executive Square, Suite 440 ● La Jolla ● CA 92037 ● (858) 642-0386 ● www.sciquus.com

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