Document:

Exhibit 10.7

 

Kaltura                  Master License and Professional Services
Agreement (OTT Package)

 

 

MASTER LICENSE AND

PROFESSIONAL SERVICES AGREEMENT

This MASTER LICENSE AND PROFESSIONAL
SERVICES AGREEMENT together with any Order Form or attachment hereto, is made as of the date of execution (the "Effective
Date") and comprises the entire agreement (the "Agreement") by and between Kaltura, Inc. ("Kaltura"),
and Zonzia Media Inc. ("Licensee"). Kaltura and Licensee are sometimes referred to herein individually as a "Party"
and collectively as the "Parties."

Kaltura and Licensee, intending to be legally bound, hereby
agree as follows:

1. DEFINITIONS.

Capitalized terms throughout
this Agreement shall have the following meaning.

		a.	"Account" means the account(s) established by Kaltura to provide Licensee access to the
Hosted Services in accordance with this Agreement.

		b.	"Affiliate" means any entity controlling, under common control with, or controlled by
either Party, where "control" means ownership of more than 50% of the equity of such entity.

		c.	"Application Programming Interfaces" and "API" shall mean the programmatic
access points to the Hosted Services.

		d.	"Confidential Information" has
the meaning set forth in Section 10.

		e.	"Custom Work" means graphical and user-interface changes to the Kaltura Software and/or
Hosted Services, created in order to adapt the look and feel of the solution to the specific requirements of Licensee, or any other
custom development, implementation and/or integration Professional Services work performed by Kaltura at Licensee's request.

		f.	"Documentation" means installation guides and/or other technical instructions, which
Kaltura provides to Licensee hereunder, in conjunction with the Kaltura Hosted Services, either in hard copy or electronic copy,
and any and all updates thereto.

		g.	"DRM" means digital rights management functionality integrated with the Software and/or
Hosted Services and powered by Microsoft PlayReady, Google Widevine, or any other third party licensor specified in an applicable
Order Form.

		h.	"Kaltura Application" means an application developed by Kaltura that makes use of Kaltura
Software, code and/or Hosted Services to deliver functionality to sites and/or access APIs.

		i.	"Kaltura Hosted Services," "Kaltura Services" or "Hosted Services"
shall mean any of Kaltura's solutions, offered to Licensee as a service that runs from Kaltura's datacenter, including, without
limitation, databases, metadata, files, and data either used to operate the services or incorporated therein, the system and processes,
the Documentation and all corrections, Custom Work, modifications and enhancements (including any and all Intellectual Property
pertaining thereto). Hosted Services may include Kaltura Software that is provided to Licensee in order to facilitate access to
the Hosted Services. The Hosted Services may access third party web-services, and such access may change from time to time based
on the discretion of said third parties or Kaltura.

	 	j.	"Kaltura Software"
means software developed by Kaltura, including without limitation, Applications, the "Kaltura Player", the "Kaltura
Management Console", "MediaHub", "MediaStore", and "MediaGo", including their respective Documentations,
and all corrections, Custom Work, modifications and enhancements thereof, performed or approved by Kaltura.

		k.	"Intellectual Property" shall include, without limitation, copyrights, trade-secrets,
Marks (as defined in Section 7a below), domain names, patents, know-how, formulation, data, technology, designs, inventions, improvements,
discoveries, processes, models or sales, financial, contractual and marketing information and all other intellectual or industrial
property and like rights, whether or not registered, and the applications thereof.

		1.	"Licensee Content" shall mean any content Licensee makes available to its Users via the
Kaltura Hosted Services, except for User Submitted Media.

		m.	"Licensee System" means the system owned or licensed by Licensee underlying Licensee's
Internet service, and including, without limitation, any and all technology, know-how, trade secrets, inventions, standardized
subroutines, computer programs, software tools, processes, coding, works of authorship, development tools and programming techniques
which are incorporated therein (excluding Kaltura Software and Hosted Services).

		n.	"Order Form" means the form supplied by Kaltura in order for Licensee to order Hosted
Services and/or Professional Services under this Agreement. The initial Order Form is attached hereto as Exhibit A.

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		o.	"Professional Services" shall mean any implementation work performed under this Agreement,
including, integration of the Hosted Services with Licensee's System, as well as any Custom Work.

		P.	"Publisher Content" means all of the content uploaded to the Hosted Services via Licensee's
Account, including User Submitted Media and Licensee Content.

		q.	"SLA" means the Service Level Standards document attached hereto as Exhibit B.

		r.	"Specifications" means the criteria for the proper functioning of the Hosted Services
and Software set forth in Exhibit C.

		s.	"User" means a legal entity or natural person that uses the Software and/or the Hosted
Services for online transactions such as viewing, browsing, downloading, uploading, editing and otherwise engaging with the Software
or Hosted Services. The term "Users" may be further defined in an applicable Order Form.

		t.	"User Submitted Media" shall mean any content created and submitted, or imported by Licensee's
Users.

2. SCOPE OF AGREEMENT.

		a.	Licensee and its Affiliates may order new or additional Hosted Services and Professional Services
by executing an Order Form. Unless otherwise specified in a given Order Form, an Order Form shall be effective upon execution by
both Parties.

		b.	Unless any provisions hereof are specifically excluded or modified in a particular Order Form hereto,
each such Order Form shall be deemed to incorporate therein all the terms and conditions of this Agreement and may contain such
additional terms and conditions as the Parties may mutually agree. Unless specifically noted, the terms and conditions contained
in a particular Order Form shall apply exclusively to the particular combination of Hosted Services and Kaltura Software described
in such Order Form and shall have no effect on any other Order Form. In the event of a conflict between any of the provisions of
this Agreement and the terms and conditions of a specific Order Form, the provisions of the specific Order Form shall prevail.
Neither Party shall have any obligation with respect to any Hosted Services, including payment, delivery and/or acceptance thereof
until an Order Form setting forth the specific terms with respect to such Hosted Services has been executed by both Parties.

3. PERSONNEL.

		a.	Service Providers. Each
                                         Party shall remain at all times liable and responsible for the actions and omissions
                                         of all subcontractors that it may use in connection with the Hosted Services or this
                                         Agreement and agrees that such subcontractor(s) shall be subject to substantially similar
                                         obligations, including the confidentiality obligations, as set forth in this Agreement.

4. THE LICENSE; OWNERSHIP.

		a.	License to the Hosted Services
                                         and the Kaltura Software. Subject to the terms and conditions of this Agreement,
                                         upon the execution of an applicable Order Form, Kaltura will grant to Licensee, for the
                                         term of this Agreement, a worldwide, non-exclusive, nontransferable, non-sublicensable
                                         (except to Licensee's Users as set forth herein) limited right and license, the scope
                                         of which shall be defined in the applicable Order Form(s), to access the Kaltura Hosted
                                         Services and the Kaltura Software described in the applicable Order Form(s) in accordance
                                         with their respective specifications, solely (i) for its own internal use; and (ii) for
                                         the purpose of sublicensing Hosted Services to Licensee's Users. Licensee shall make
                                         no other access or use of the Kaltura Hosted Services or the Kaltura Software except
                                         as expressly granted hereunder, without the prior written consent of Kaltura. All rights
                                         not expressly granted herein with respect to the Kaltura Software and the Kaltura Hosted
                                         Services, are reserved to Kaltura. Nothing contained herein shall limit Kaltura's right
                                         to license or otherwise distribute or make available Kaltura Hosted Services, in whole
                                         or in part, to any third party. Licensee hereby grants Kaltura a worldwide, royalty-free,
                                         transferable, non-exclusive license to: (i) deliver Publisher Content in accordance with
                                         the preferences set by Licensee using its Account; (ii) secure, encode, reproduce, host,
                                         cache, route, reformat, analyze and create algorithms and reports based on access to
                                         and use of Publisher Content; (iii) use, exhibit, broadcast, publish, publicly display,
                                         make available, publicly perform, distribute, promote, copy, store or reproduce Publisher
                                         Content on or through the Hosted Services or otherwise perform any action required in
                                         order to fulfill its obligations hereunder; and (iv) utilize Publisher Content to test
                                         Kaltura's internal technologies and processes.

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		b.	Ownership. The Parties expressly understand and agree that: (i) the Kaltura Hosted Services,
the Kaltura Software(s), Kaltura's Confidential Information, and all Intellectual Property with respect to the foregoing, are and
shall remain the sole and exclusive property of Kaltura; and (ii) the Licensee System, Licensee's Confidential Information, Licensee
Content and all Intellectual Property with respect to the foregoing are and shall remain the sole and exclusive property of Licensee.

		c.	Protection of Rights. Both Parties shall cooperate with each other in protecting their respective
rights in the Kaltura Software(s), the Kaltura Hosted Services, Licensee System, and Licensee Content, including their Intellectual
Property and Confidential Information. Without limiting the foregoing, each Party agrees to notify the other Party promptly in
the event that such Party becomes aware of any infringement of any such rights held by the other Party. Each Party shall exclusively
have the right, in its sole discretion, to prosecute lawsuits against any third party for infringement of its rights and the other
Party shall fully cooperate with it, at such Party's (whose rights have been infringed upon) expense, in the prosecution of any
such suit, demand or claim.

		d.	Publisher Content. Kaltura does not endorse any Publisher Content or any opinion,
                                                                recommendation, or advice expressed therein, and Kaltura expressly disclaims any and all liability in connection with
                                                                Publisher Content. Licensee shall ensure that its Accounts are not used in connection with copyright infringing activities,
                                                                any infringement of intellectual property rights, and/or any illegal or offensive content. Licensee acknowledges and agrees
                                                                that Kaltura does not screen or review Publisher Content on the Hosted Services to determine whether it contains false or
                                                                defamatory material, or material that is infringing, inaccurate,
misleading, offensive, indecent, objectionable, invasive of another's privacy or publicity rights. Under no
circumstances will Kaltura be liable in any way for any Publisher Content, including, but not limited to, any defamation,
falsehoods, errors or omissions associated with such Publisher Content, or for any loss or damage of any kind incurred as a
result of the use or publication of any such content posted, delivered, emailed or otherwise transmitted via the Hosted
Services. If notified in writing that such content infringes on any third party's intellectual property rights, Kaltura will
promptly notify (e-mail sufficing) Licensee of such infringement, and provided that such writing includes all of the elements
of notification set forth in 17 U.S.C. § 512(c)(1), Kaltura may remove any allegedly infringing Publisher Content to the
extent necessary to take advantage of the safe harbor provisions of the Digital Millennium Copyright Act (17 U.S. Code §
512).

5. FEES.

		a.	Fees and Payment Schedule. Licensee shall pay Kaltura the fees set forth in the Order Form,
in accordance with any additional payment terms set forth therein. Payment for all invoices is due within thirty (30) days of Licensee's
receipt of a given invoice. Any setup fees shall be invoiced upon execution of the Order Form. Recurring subscription
fees shall be invoiced on the date set forth in the Order Form. All fees are exclusive of VAT and any other applicable sales tax.

		b.	Currency; Interest. Unless otherwise specified in the applicable Order Form, Licensee shall
pay all fees and other amounts due pursuant to this Agreement and applicable Order Forms solely and exclusively in US Dollars.
Any late payment shall accrue interest at the monthly rate of one percent (1%) on any outstanding balance from the due date, or
the maximum rate permitted by law, whichever is less.

		c.	Taxes. All payments hereunder
                                         are exclusive of any and all applicable sales, use, excise, import, export, value-added
                                         and similar taxes and governmental charges.

		d.	Professional Services. Unless otherwise specified in an applicable Order Form, Professional
Services fees will be charged on a fixed fee basis, with payment in full due upon execution of the Order Form. In the case of Professional
Services fees charged on a per hour basis, Licensee shall be responsible for any Professional Services hours it requires beyond
the initial amount purchased in an applicable Order Form. Implementation of final deliverables may be dependent on Licensee making
assets and internal resources available to Kaltura. Professional Services fees shall be non-refundable. Licensee is responsible
for actual and reasonable travel expenses associated with travel to Licensee's premises in connection with any Professional Services
rendered under this Agreement. Kaltura charges effective hourly rates for all travel time in excess of three (3) hours per outgoing
and return journey. Kaltura will bill Licensee for reasonable and necessary incurred expenses through standard invoicing. Travel
and expense costs are not included within any time and materials estimates.

 

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		e.	Non-Payment and Suspension. In the event of nonpayment, or late payment, Kaltura reserves
the right to suspend or terminate Licensee's access to the Hosted Services following written notice that has not been cured within
thirty (30) days of the date of such notice. Kaltura shall not be liable for any damages suffered by Licensee as a result of such
suspension or termination. Kaltura will continue to invoice Licensee for the fees specified in the applicable Order Form during
any period of service suspension due to Licensee's nonpayment or late payment.

		f.	DRM. Notwithstanding anything to the contrary in this Agreement, if any Kaltura DRM licensor
ceases to provide DRM services, in whole or in part, or otherwise materially changes the manner or scope in which it provides such
services to Kaltura (including, without limitation, by changing the fee structure for usage of such services), Licensee shall be
exclusively responsible for all fees and/or expenses associated with obtaining and implementing replacement DRM services.

6. DELIVERY AND ACCEPTANCE

	 	a. 	Kaltura will perform the implementation and customization Professional Services set forth in Exhibit C, in accordance with
the Specifications and delivery schedule set forth therein. Kaltura shall provide written notice to Licensee (the
"Acceptance Test Procedure ("ATP") Notice") when the relevant deliverables are ready for the commencement
of acceptance tests. Acceptance testing shall be conducted by Licensee starting no later than five (5) business days from the
delivery of the ATP Notice and lasting for a period not to exceed twenty-one (21) days thereafter.

		b.	If a deliverable fails to meet the Specifications, Licensee shall issue to Kaltura a notice of
such failure, including a detailed written explanation of how to reproduce the situation in which the applicable deliverable fails
to comply with the Specifications, and Kaltura, at its expense, shall correct the defects as soon as practicable. Only problems
reported within the initial ATP period will be considered as limiting the acceptance of the deliverable. After the correction of
the deliverable(s), Licensee shall continue the ATP procedure for an additional period of fourteen (14) days only in respect to
problems reported within the initial period of the ATP. The procedures set forth in this paragraph shall repeat until the deliverables
have been accepted in accordance with subsection (c) below.

		c.	Upon completion of the ATP, Licensee shall sign an acceptance acknowledgement in a form to be provided
by Kaltura, evidencing the successful completion of the acceptance test. Such form shall be signed and returned to Kaltura no later
than one (1) business day after the completion of the ATP. Notwithstanding the foregoing, Licensee shall be deemed to have accepted
the deliverables upon the occurrence of the earlier of the following: (i) Licensee has made the deliverables, Software, and/or
Hosted Services, or any part thereof, available to Users in production; (ii) the passing of a period of fourteen (14) days from
the date of the ATP Notice, in the event the acceptance tests did not commence or were not diligently conducted; or (iii) the submission
of an end user application to the applicable third party download portal (i.e., the Apple 'App Store' or similar application download
portal).

7. TRADEMARKS.

		a.	License of Marks. During
                                         the term of this Agreement, each Party hereby grants to the other Party subject to the
                                         terms and conditions of this Agreement, a limited, royalty-free, non-exclusive, non-transferable,
                                         non-sublicensable, worldwide right and license to use and display, solely to the extent
                                         necessary for the other Party to perform its obligations hereunder, such Party's trade
                                         names, trademarks, service marks and associated logos and other promotional materials
                                         ("Marks"). Each Party will attribute the Marks of the other Party used pursuant
                                         to this Section with a statement to the effect that the other Party owns such Marks.

		b.	Reservation of Rights in Marks. Each Party will retain all right, title and interest in
and to its Marks, and all goodwill associated with use of such Marks will inure solely to its benefit. All use of a Party's Marks
by the other Party shall conform to good trademark usage practice or any reasonable trademark usage guidelines or instructions
that such Party may provide to the other Party from time to time.

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8. REPRESENTATIONS AND WARRANTIES.

		a.	Mutual Representations and Warranties. Each Party represents and warrants to the other Party
for the duration of the term hereof that:

	 	i	Authority to Conduct
Business. It has all powers and authority necessary to own, operate and lease its assets and properties and to carry on its
business as now being conducted.

		ii.	Corporate Authority. It has sufficient powers and authority to enter into this Agreement and to
perform its obligations hereunder and grant the rights granted to the other Party hereunder.

		iii.	No Violation. The execution and delivery of this Agreement and the performance and consummation
of the transactions contemplated hereby will not violate or result in a breach by such Party of its articles of incorporation or
bylaws, any other agreement or understanding to which it is a party, or any lien, resolution, legal or administrative order or
statutory provisions to which it is subject.

		iv.	Applicable Law. It will comply with all applicable laws and regulations governing the performance
of its obligations under this Agreement, including without limitation, applicable export regulations and data protection regulations.

		b.	Kaltura's Warranties. Kaltura
                                         represents and warrants to Licensee that (i) it will provide any Professional Services
                                         rendered hereunder with reasonable skill and care, using appropriately qualified personnel;
                                         (ii) the Software and Hosted Services provided hereunder shall perform materially in
                                         accordance with the Documentation and the Specifications; (iii) it will provide support
                                         for the Software and Hosted Services in accordance with the SLA; and (iv) Kaltura owns
                                         or has the legal right to license the combination of Software and Hosted Services set
                                         forth in any applicable Order Form.

		c.	No Warranty to Third Parties.
                                         NOTHING IN THIS AGREEMENT IS INTENDED TO CONSTITUTE OR CREATE ANY REPRESENTATION
                                         OR WARRANTY BY KALTURA TO LICENSEE'S USERS, OR ANY OTHER THIRD PARTY, DIRECTLY OR AS
                                         A THIRD PARTY BENEFICIARY, WITH RESPECT TO THE KALTURA SOFTWARE, HOSTED SERVICES, PUBLISHER
                                         CONTENT, PROFESSIONAL SERVICES OR OTHERWISE.

		d.	Disclaimer of Warranties.
                                         EXCEPT AS EXPRESSLY SET FORTH IN THIS SECTION 8, KALTURA MAKES NO, AND HEREBY SPECIFICALLY
                                         DISCLAIMS, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY, REPRESENTATIONS OR
                                         WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTY OF
                                         MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, QUIET ENJOYMENT, OR NONINFRINGEMENT,
                                         AND ANY IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE.

9. LIMITATION OF LIABILITY; INDEMNIFICATION.

		a.	OTHER THAN IN CONNECTION WITH A BREACH OF LICENSEE'S PAYMENT OBLIGATIONS TO KALTURA HEREUNDER, NEITHER PARTY SHALL BE LIABLE
TO THE OTHER PARTY FOR ANY INCIDENTAL, INDIRECT, CONSEQUENTIAL, SPECIAL OR PUNITIVE DAMAGES OF ANY KIND OR NATURE, INCLUDING
WITHOUT LIMITATION LOST REVENUES OR LOST PROFITS, WHETHER SUCH LIABILITY IS ASSERTED ON THE BASIS OF CONTRACT (INCLUDING,
WITHOUT LIMITATION, THE BREACH OF THIS AGREEMENT OR ANY TERMINATION OF THIS AGREEMENT), TORT (INCLUDING NEGLIGENCE OR STRICT
LIABILITY), OR OTHERWISE, EVEN IF THE OTHER PARTY HAS BEEN WARNED IN ADVANCE OF THE POSSIBILITY OF ANY SUCH LOSS OR DAMAGE.
IN NO EVENT SHALL EITHER PARTY'S MAXIMUM LIABILITY UNDER THIS AGREEMENT (OTHER THAN IN CONNECTION WITH A BREACH OF LICENSEE'S
PAYMENT OBLIGATIONS TO KALTURA HEREUNDER) EXCEED THE AMOUNTS ACTUALLY PAID BY LICENSEE TO KALTURA PURSUANT TO THIS AGREEMENT
DURING THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO SUCH LIABILITY. THE LIMITATION OF LIABILITY SET FORTH IN
THIS PARAGRAPH DOES NOT APPLY IN CASES OF WILLFUL MISCONDUCT, FRAUD, OR GROSS NEGLIGENCE, OR IN CONNECTION WITH EITHER
PARTY'S CONFIDENTIALITY OR INDEMNIFICATION OBLIGATIONS.

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		b.	Indemnification
for Intellectual Property Infringement. Kaltura shall defend, indemnify and hold Licensee (including its
directors, officers and employees) harmless from and against any and all liabilities, damages, judgments, costs and expenses
(including, without limitation, reasonable attorneys' fees) against Licensee that arise in connection with any third party
claim, action, suit, or proceeding alleging that the Kaltura Hosted Services, or the Kaltura Software infringes a valid
copyright, trademark, trade secret, or patent issued as of the Effective Date ("Claim"); provided, however, that
Licensee shall give prompt written notice of any Claim to Kaltura, shall provide such information and assistance as
reasonably requested by Kaltura in its negotiation, defense or settlement of such Claim, and that Kaltura shall have sole
control over the defense of such Claim.

		d.	Disclaimer of Warranties.
                                         EXCEPT AS EXPRESSLY SET FORTH IN THIS SECTION 8, KALTURA MAKES NO, AND HEREBY SPECIFICALLY
                                         DISCLAIMS, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY, REPRESENTATIONS OR
                                         WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTY OF
                                         MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, QUIET ENJOYMENT, OR NONINFRINGEMENT,
                                         AND ANY IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE.

	 	i	Additional Remedy.
                                         If a Claim may be or has been asserted, Kaltura may, in its sole discretion, at its expense
                                         and to the extent reasonably possible: (i) procure Licensee the right to continue using
                                         the Kaltura Software, Hosted Services, or the Kaltura Marks, as the case may be; or (ii)
                                         replace or modify them to eliminate the infringement while providing functionally equivalent
                                         performance.

		ii.	Limitation. Notwithstanding
                                         anything to the contrary herein, Kaltura will have no indemnity obligation to Licensee
                                         for any Claim that results from or relates to: (i) the use of the Kaltura Hosted Services
                                         and/or the Kaltura Software in a manner not in accordance with this Agreement; or (ii)
                                         where the infringement results from the combination of the Kaltura Software and/or the
                                         Hosted Services with a third party's systems, products or services (other than the Licensee
                                         System, if the combination was performed by Kaltura), where the Kaltura Software and/or
                                         Hosted Services, standing alone, would not have infringed upon a third party's rights.

	 	iii.	THIS SECTION 9B STATES
KALTURA'S ENTIRE LIABILITY AND LICENSEE'S EXCLUSIVE REMEDY FOR CLAIMS RELATING TO INTELLECTUAL PROPERTY INFRINGEMENT.

		c.	Notwithstanding Section 9a above, Licensee agrees to indemnify, defend, and hold Kaltura, its subsidiaries
and affiliates, and/or their respective directors, officers, shareholders and employees, harmless to the fullest extent allowed
by law regarding all matters related to Publisher Content, including but not limited to any claims regarding inaccurate, offensive,
indecent, libelous, defamatory, invasive of another's privacy or publicity rights, objectionable or infringing content.

10. CONFIDENTIAL INFORMATION.

		a.	Confidential Information. Each Party acknowledges and agrees that, in the course of this
Agreement and the Parties' relationship, it may be given access to or may otherwise obtain Confidential Information belonging or
pertaining to the other Party. For purposes hereof, the term "Confidential Information" shall include nonpublic information
about the disclosing Party's business or activities that is proprietary and confidential, including, without limitation, all business,
financial, technical and other information of a party marked or designated as "confidential" (or some similar designation)
or that, by its nature or the circumstances surrounding its disclosure, should reasonably be regarded as confidential. Each Party
hereby agrees to (i) use the Confidential Information of the disclosing Party solely for the purpose of performing its obligations
under this Agreement; (ii) hold the other Party's Confidential Information in strict confidence, and; (iii) not disclose such Confidential
Information, or any part thereof, to any third party, except those of its officers, employees or professional advisors with a strict
"need to know" in order for the receiving Party to perform its obligations hereunder; provided that such officers, employees
or professional advisors shall, prior to any disclosure, have agreed by signed writing or otherwise be bound to confidentiality
obligations no less strict than those described herein.

 

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	 	b.	Exclusions. Confidential Information shall not include (i) 
                          any information already rightfully in the public domain at the time of its disclosure, or subsequently
                          released into the public domain by the disclosing Party; (ii)any information already rightfully in the
                          possession of the receiving Party at the time of its disclosure by the disclosing Party without an obligation
                          to maintain its confidentiality; (iii) any information that is independently developed by the receiving
                          Party without use of or reference to any Confidential Information of the disclosing Party, in either
                          case such fact being proven through documentary evidence; (iv) information obtained by the receiving
                          Party from a third party not in breach of any confidentiality obligations to the disclosing Party; or
                          (v) information required to be disclosed by law, a court order or competent government authority, provided
                          that in such case the receiving Party shall promptly inform the disclosing Party of such requirement
                          of disclosure prior to the disclosure such that the disclosing Party has an opportunity to object to
                          the production or disclosure through seeking a protective order.

		c.	Each Party (as the receiving Party) acknowledges that the disclosing Party considers its
                                                                Confidential Information to contain trade
secrets of the disclosing Party and that any unauthorized use or disclosure of such information would cause the disclosing Party
irreparable harm for which its remedies at law would be inadequate. Accordingly, each Party (as receiving party) acknowledges and
agrees that the disclosing Party will be entitled, in addition to any other remedies available to it at law or in equity, to seek
the issuance of injunctive relief, without bond, enjoining any breach or threatened breach of the receiving Party's obligations
hereunder with respect to the Confidential Information of the disclosing Party, in addition to such further injunctive relief as
any court of competent jurisdiction may deem just and proper.

11. TERM AND TERMINATION.

		a.	Term of this Agreement. This Agreement shall be effective as of the Effective Date and shall
remain in force for as long as there is an executed Order Form in effect, unless terminated as set forth herein ("Master Agreement
Term"). Notwithstanding the above it is acknowledged by the Parties that each Order Form may be in effect only for a specific
period of time ("Order Form Initial Term") as set out in each respective Order Form. Furthermore, it is acknowledged
that the Parties may set out such period of time for which the Hosted Services and/or Professional Services under such Order Form
may be extended ("Order Form Renewal Term") after the expiry of the Initial Term or Renewal Term, as the case may be.

		b.	Termination. This Agreement and its applicable Order Forms may be terminated as follows:

		i.	By either Party, upon thirty (30) days' prior written notice to the other Party (specifying in
reasonable detail the nature of the material breach), if such other Party materially breaches this Agreement and fails to cure
such breach within such thirty (30) day period.

		ii.	By either Party, immediately upon written notice to the other Party, if: (i) a receiver is appointed
for such other Party or its property, (ii) such other Party makes a general assignment for the benefit of its creditors, (iii)
any proceedings are commenced by, for, or against such other Party under any bankruptcy, insolvency or debtor's relief law for
the purpose of seeking a reorganization of such other Party's debts, and such proceeding affects the quality of services such Party
provides under this Agreement, or (iv) such other Party is liquidated or dissolved.

		c.	Effect
                                         of Termination. Immediately upon any termination of this Agreement or its applicable
                                         Order Forms: (i) Licensee shall pay to Kaltura any and all amounts then due and outstanding
                                         under this Agreement; (ii) all rights and licenses granted hereunder, and all obligations
                                         and covenants imposed hereunder, shall immediately cease, except as otherwise expressly
                                         provided herein; and (iii) each Party shall: (a) stop using all Confidential Information,
                                         Marks and/or any other proprietary materials of the other Party then under its possession
                                         or control (including, without limitation, the Kaltura Software and Licensee System,
                                         as applicable); (b) erase or destroy all such Confidential Information, Marks and/or
                                         any other proprietary materials residing in any computer memory or data storage apparatus;
                                         and (c) at the option of such other Party, either destroy or return to
such other Party all such Confidential Information, Marks and/or any other proprietary materials in tangible form and all copies
thereof. Any such destruction referenced in (b) or (c) above shall be, upon request, certified in writing to the disclosing Party
by an authorized officer of the receiving Party supervising such destruction. Notwithstanding anything to the contrary in this
Agreement, neither Party shall be obligated to return or destroy Confidential Information of the other Party if, and only to the
extent that, the retention of such Confidential Information is required by any applicable law, regulation, policy, or internal
compliance procedure relating to the retention or automatic archiving of files and data. For the avoidance of doubt, any such retained
Confidential Information shall remain subject to the confidentiality obligations set forth in this Agreement.

 

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		d.	Survival. The following
                                         provisions shall survive any termination of this Agreement: Sections 3, 4b, and 912.

12. GENERAL TERMS.

		a.	Marketing and Press Release.
                                         Licensee agrees that Kaltura may list Licensee as a customer on the Kaltura website.
                                         The Parties shall issue a mutually agreed upon press release following the signing of
                                         this Agreement. No news releases or public announcements relating to this Agreement,
                                         its existence, its subject matter, or its terms and conditions shall be made by either
                                         Party without the prior written consent of the other Party.

		b.	Compliance with Export Control Laws. Licensee shall not download, access, use, or otherwise
export or re-export the Software, the Hosted Services or any underlying information or technology related to the Software and/or
Hosted Services except in full compliance with all United States export control laws and their implementing regulations.

		c.	Relationship of the Parties. Each Party to this Agreement shall be deemed to be an independent
contractor of the other Party. Nothing contained herein or in any other writing shall imply any partnership, joint venture, agency
or master/servant relationship between the Parties and neither Party shall have the power to obligate or bind the other in any
manner whatsoever.

		d.	Force Majeure. Except as otherwise expressly provided in this Agreement, neither Party shall
be liable for any breach of this Agreement, other than any default in payment obligations, for any delay or failure of performance
resulting from any cause beyond such Party's reasonable control.

		e.	Amendment. No amendment or modification of any provision of this Agreement shall be effective unless
in writing and signed by duly authorized signatories of Kaltura and Licensee.

		f.	Assignment. Neither Party may assign this Agreement or any of its rights or obligations
hereunder, whether by contract, operation of law or otherwise, without the other Party's prior written approval. Any attempt to
do so without such approval shall be void. Subject to the foregoing restriction, this Agreement shall inure to the benefit of,
and be binding upon, the Parties and their respective successors and assigns. Notwithstanding anything to the contrary in this
Agreement, neither Party need obtain the consent of the other Party prior to assigning the right to receive payment
under this Agreement, or prior to assigning this Agreement (a) to an Affiliate of the assigning Party, or (b) to any third party
acquiring all or substantially all of the assets relating to this Agreement or a controlling interest in the voting stock or voting
interest of the assigning Party or any controlling Affiliate of the assigning Party.

		g.	Notice. All notice required
                                         to be given under this Agreement must be given in writing and delivered either by hand,
                                         e-mail, certified mail (return receipt requested, postage pre-paid) or nationally recognized
                                         overnight delivery service (all delivery charges prepaid) and addressed, if to Licensee,
                                         to the contact identified in the Order Form completed by Licensee and, if to Kaltura,
                                         to Kaltura, Inc., 250 Park Avenue South, 10th Floor, New York, NY 10003, Attn:
                                         General Counsel.

		h.	Severability. If the application
                                         of any provision or provisions of this Agreement to any particular facts or circumstances
                                         shall be held to be invalid or unenforceable by any court of competent jurisdiction,
                                         then (i) the validity and enforceability of such provision or provisions as applied to
                                         any other particular facts or circumstances and the validity of other provisions of this
                                         Agreement shall not in any way be affected or impaired thereby, and (ii) such provision
                                         or provisions shall be reformed without further action by the Parties hereto to and only
                                         to the extent necessary to make such provision or provisions valid and enforceable when
                                         applied to such particular facts and circumstances.

		i.	Governing Law; Jurisdiction. The validity, interpretation, enforceability, and performance
of this Agreement shall be exclusively governed by and construed in accordance with the laws of the State of New York. The Parties
hereby agree to submit to the exclusive jurisdiction of the courts of New York.

    	 	8	 

     

    

	 	j.	Third Parties. Except as specifically set forth or referred to
                          herein, nothing herein expressed or implied is intended or shall be construed to confer upon or give
                          to any individual or entity other than the Parties hereto and their successors and permitted assigns
                          any rights or remedies under or by reason of this Agreement.

		k.	Titles and Headings. The titles and headings of the Sections and other subdivisions of this Agreement
are for convenience of reference only and shall not modify, define or limit any of the terms or provisions of this Agreement.

		1.	Entire Agreement. This Agreement: (i) constitutes the final and complete agreement between
the Parties; and (ii) represents the entire agreement between the Parties and supersedes all prior agreements, conversations, negotiations,
understandings, term sheets, letters of intent, and confidentiality agreements relating to the subject matter contained herein,
including any preprinted terms on any ordering documents. Each Party acknowledges and agrees that, other than those expressly set
forth in this Agreement, neither Party has made or will make any representation, and neither Party has relied or will rely on any
representation.

		m.	Counterparts. This Agreement may be executed in any number of counterparts. All counterparts,
taken together, will constitute one agreement.

		n.	Waiver. The failure of either Party to enforce at any time, or for any period of time, the
provisions of this Agreement shall not be interpreted to be a waiver of such provisions or of the right of such Party to enforce each and every such provision.

 

 13. This Agreement shall come into effect between the Parties only upon execution by both Parties.

 

IN WITNESS WHEREOF,
intending to be legally bound, the Parties have caused this Agreement to be executed by their authorized representatives as of
the date indicated below.

 

	Kaltura, Inc.	Zonzia Media, Inc.
	 	 
	Signature: /s/ Michal Tsur	Signature: /s/ Myles A. Pressey III
	 	 
	Name: Michal Tsur	Name: Myles A. Pressey III
	 	 
	Title: President	Title: Chairman
	 	 
	Date: 8/2/15	Date: 8/4/15

 

    	 	9Exhibit 10.14

 

[*] = Certain confidential information contained
in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant
to Rule 406 of the Securities Act of 1933, as amended.

 

 

AND

 

Oncobiologics, Inc.

 

Commercial License Agreement

 

April 11, 2013

 

     

     

    

  

CONFIDENTIAL

 

This Commercial License Agreement (this “Agreement”)
is made effective on April 11, 2013 (the “Effective Date”)

 

by and between

 

Selexis SA, a company
incorporated under the laws of Switzerland, with its registered office at 18 chemin des Aulx, 1228 Plan-les-Ouates, Geneva,
Switzerland (“SELEXIS”)

 

and

 

Oncobiologics, Inc., a
company incorporated under the laws of the United States, with its registered office at 7 Clarke Drive, Cranbury, New
Jersey 08512 (“COMPANY”) (SELEXIS and COMPANY, collectively the “PARTIES” and,
individually, a “PARTY”).

 

Preamble

 

		A.	Whereas,
COMPANY is a biopharmaceutical company engaged in the research, development, manufacturing and sale of biopharmaceutical products;

 

		B.	Whereas,
SELEXIS is a biotechnology company engaged in the development and sale of recombinant cell lines based on the SELEXIS Technology;

 

		C.	Whereas,
SELEXIS is the owner of certain Confidential Information, the SELEXIS Know-How and the SELEXIS Patent Rights;

 

		D.	Whereas,
pursuant to a Research License Agreement between the PARTIES dated October 3, 2011 (the “Research License Agreement”)
COMPANY has developed certain recombinant cell line(s) and/or COMPANY Material using the SELEXIS Technology, SELEXIS Know-How
and SELEXIS Patent Rights, and COMPANY has evaluated such cell Line(s); and

 

		E.	Whereas,
SELEXIS is willing to grant COMPANY, and COMPANY is willing to receive from SELEXIS, a commercial license to the SELEXIS Know-How
and the SELEXIS Patent Rights with respect to the SELEXIS Technology, on the terms and conditions set forth in this Agreement.

 

Now,
Therefore, the PARTIES agree as follows:

 

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	[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

     

    

 

CONFIDENTIAL

 

		1.	Definitions

 

In addition to the terms defined above, the following
terms, whether used in the singular or plural, shall have the following meanings as used in this Agreement, unless otherwise specifically
indicated:

 

		1.1.	“Affiliate” shall mean any Person
that, as of the Effective Date, directly or indirectly, controls, is controlled by, or is under common control with the relevant
Person. For the purposes of this definition only, “control” shall mean the possession, directly or indirectly,
of the power to cause the direction of the management and policies of a Person, whether through ownership of voting securities
of such Person, by contract or otherwise. A Person shall only be considered an Affiliate for so long as such control exists.

 

		1.2.	“BLA” shall mean a Biologic License
Application for the Final Product filed with the FDA or any comparable filing made with a Regulatory Authority in another country.

 

		1.3.	“Calendar Quarter” shall mean,
for each Calendar Year, each of the three month periods ending March 31, June 30, September 30 and December 31, respectively.

 

		1.4.	“Calendar Year” shall mean the
period commencing on January 1 and ending twelve (12) consecutive calendar months later on December 31.

 

		1.5.	“Cell Line” shall mean a mammalian
cell line that is developed using the SELEXIS Technology. Cell Line shall include, without limitation, any Company-Specific Cell
Line(s) developed by COMPANY under the Research License Agreement which have employed SELEXIS Technology, SELEXIS Know-How and/or
SELEXIS Patent Rights.

 

		1.6.	“Clinical Trials” shall mean
human studies designed to measure the safety and/or efficacy of the Product. Clinical Studies include Phase I Clinical Trials,
Phase II Clinical Trials, and Phase Ill Clinical Trials.

 

		1.7.	“Collaboration Partner” shall
mean a Third Party with which COMPANY collaborates on the development and/or commercialization of a Licensed Product or to which
COMPANY has granted a license for the development and/or commercialization of a Licensed Product, provided that [*] or [*] or
[*] for [*].

 

		1.8.	“Combination Product Adjustment”
shall mean the adjustment of: Net Sales for any combination product done by multiplying actual Net Sales of such combination product
by the fraction A/(A + B) where A is the weighted (by sales volume) average invoice price of the Product, if sold separately,
and B is the weighted (by sales volume) average invoice price of any other active ingredient, device or component in the combination,
if sold separately. If, on a country-by-country basis, the other active ingredient, device or component in the combination is
not sold separately, Net Sales shall be calculated by multiplying actual Net Sales of the combination product in such country
by the fraction A/C where A is the invoice price of the Product, if sold separately, in such country and C is the invoice price
of the combination product in such country.

 

		1.9.	“Commercial License” shall have
the meaning set out in Article 2.1.

 

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CONFIDENTIAL

  

		1.10.	    “Commercial License Option” shall
mean the option granted to Company in the Research License Agreement to obtain a non-exclusive commercial license.

 

		1.11.	   “Company Protein” shall mean
the recombinant protein listed in Exhibit 2.

 

		1.12.	   “Company-Specific Cell Line”
shall mean a Cell Line that has been modified by Company under the Research License Agreement to specifically express the Company
Protein.

 

		1.13.	   “COMPANY Technology” shall mean
any Technology owned or controlled by COMPANY, including, without limitation, any such Technology related to Licensed or Final
Product, but excluding any SELEXIS Technology related thereto.

 

		1.14.	   “Confidential Information” shall
mean any technical and business information pertaining to materials and production techniques, products, processes and services,
including without limitation physical working models and samples of the products, research, development, patentable and unpatentable
inventions, manufacturing, purchasing and product development plans, forecasts, strategies and information, engineering, marketing,
merchandising, selling, customer lists, customer prospects, software codes, algorithms, names and expertise of employees and consultants,
blueprints, technical information, trade secrets or know-how or other related proprietary business information and data, in any
case whether such information is provided in tangible or intangible form, written, oral, graphic, pictorial or recorded form or
stored on computer discs, hard drives, magnetic tape or digital or any other electronic medium. Confidential Information disclosed
in any tangible format will be labelled “Confidential” or words to similar effect, and all non-tangible disclosures
will be declared to be “Confidential” or words to similar effect at the time of disclosure. Confidential Information
shall include any and all material and data created by the receiving party based on, containing or otherwise reflecting Confidential
Information. Confidential Information shall also include any such information or documents which may be disclosed hereunder which
the disclosing party received in confidence from a Third Party.

 

		1.15.	   “Contract Manufacturing Organization”
shall mean an entity of which at least fifty percent (50%) of the business is directed toward the provision of biologic manufacturing
services or products for non-affiliate third parties.

 

		1.16.	   “Contractor” shall mean a Third
Party contractor who: (i) develops the production process for Licensed Products by or on behalf of COMPANY, or (ii) manufactures
and supplies Licensed Products by using such production process by or on behalf of COMPANY.

 

		1.17.	   “Default” shall have the meaning
set out in Article 9.2.

 

		1.18.	   “Defaulting Party” shall have
the meaning set out in Article 9.2.

 

		1.19.	   “FDA” shall mean the United States
Food and Drug Administration, or any successor agency.

 

		1.20.	   “Final Product” shall mean any
pharmaceutical preparation in final form containing any Licensed Product(s) for sale by prescription, over-the-counter or any
other method, in any dosage form, formulation,

 

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CONFIDENTIAL

 

presentation, line
extension or package configurations, including without limitation such Licensed Product in development where the context so requires
in this Agreement.

 

1.21.    “First
Commercial Sale” shall mean, with respect to any Final Product in any country, the first sale of such Final Product
for use or consumption by the general public in such country after Regulatory Approval as well as Pricing and Reimbursement Approval
for such Final Product has been obtained in such country. For the avoidance of doubt, sales prior to receipt of all Regulatory
Approvals and Pricing and Reimbursement Approvals necessary to commence regular commercial sales, such as so-called “treatment
IND sales”, “named patient sales” and “compassionate use sales”, shall not be construed as a First
Commercial Sale.

 

1.22.     “Force
Majeure” shall mean conditions beyond the control of a PARTY, including without limitation, an act of God, war, civil
commotion, terrorist act, labor strike or lock-out, epidemic, failure or default of public utilities or common carriers, destruction
of facilities or materials by fire, earthquake, storm or the like catastrophe, and failure of plant or machinery (provided that
such failure could not have been prevented by the exercise of skill, diligence and prudence that would be reasonably and ordinarily
expected from a skilled and experienced person engaged in the same type of undertaking under the same or similar circumstances).

 

1.23.     “IND”
shall mean an Investigational New Drug Application for the Final Product filed with the FDA or any comparable filing made with
a Regulatory Authority in another country.

 

1.24.     “Insolvent
Party” shall have the meaning set out in Article 9.3.

 

1.25.     “Invention”
shall mean any invention, idea, innovation, enhancement, improvement or feature, whether or not patentable or registrable, together
with any intellectual property rights relating thereto (including without limitation, the Patent Rights and rights to confidentiality
and proprietary information).

 

1.26.     “Know-How”
shall mean information in whatever form, tangible or intangible and on whatever medium, including without limitation, information
and materials relating to Inventions and other know-how, trade secrets, data (including without limitation, all data from pre-clinical
and clinical studies and other studies intended for regulatory submission), results, formulae, DNA and amino acid sequence information
and related developments.

 

1.27.     “Licensed
Field of Use” shall mean the development, manufacture and sale of Final Products for any field of use.

 

1.28.     “Licensed
Product” shall mean Company Protein made or derived from any Selexis Materials, including, without limitation, the
Company-Specific Cell Lines.

 

1.29.     “Losses”
shall mean all and any liability, damage, loss or expense.

 

1.30.      “Net
Sales” shall mean the amount collected by COMPANY, its Affiliates, its Sublicensees and/or any Collaboration Partner
with whom the Parties enter into a tri-party agreement pursuant to Section 2.3, on account of sales of Final Product to Third Parties
in the Territory, less the following deductions:

 

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CONFIDENTIAL

  

		(i)	sales and excise taxes and duties paid or allowed by the
selling PARTY and any other governmental charges imposed upon the production, importation, use or sale of the Final Products;

 

		(ii)	customary trade, quantity and cash discounts allowed on
Final Products;

 

		(iii)	compulsory government rebates;

 

		(iv)	allowances or credits to customers on account of rejection
or return of Final Product or on account of retroactive price reductions affecting the Final Product;

 

		(v)	freight and insurance costs, if they are included in the
selling price for the Final Product invoiced to Third Parties, provided always that such deduction shall not be greater than the
balance between the selling price actually invoiced to the Third Party and the standard selling price which would have been charged
to such Third Party for such Final Product exclusive of freight and insurance in the respective country or in a comparable country;
and

 

		(vi)	in the event that a Final Product is sold in any country
in the form of a combination product containing one or more other therapeutically active ingredients, the Net Sales for any such
Final Product shall be computed using the Combination Product Adjustment for such country.

 

1.31.      “Non-Defaulting
Party” shall have the meaning set out in Article 9.2.

 

1.32.      “Notice
of Default” shall have the meaning set out in Article 9.2.

 

1.33.      “Patent
Rights” shall mean any and all of the following: (i) patent applications (including without limitation provisional
patent applications) and patents (including without limitation the inventor’s certificates); (ii) any substitution, extension
(including without limitation patent term extensions and supplementary protection certificates), registration, confirmation, reissue,
continuation, divisional, continuation-in-part, re-examination, renewal, patent of addition or the like thereof or thereto; (iii)
any foreign counterparts of any of the foregoing; and (iv) any utility model applications and utility models (whether or not corresponding
to any of the foregoing).

 

1.34.      “Person”
shall mean an individual, a partnership, a joint venture, a corporation, a limited liability company, a trust, an estate, an unincorporated
organization, or any other entity, or a government or any department or agency thereof, whether acting in an individual, fiduciary
or other capacity.

 

1.35.      “Phase
I Clinical Trial” shall mean a Clinical Trial conducted in humans which is principally intended to obtain data on
the safety, tolerability, pharmacokinetic or pharmacodynamic properties of a product. Phase I shall be deemed to have commenced
when the first patient in the study has been treated. Phase I shall be deemed to have completed when the last patient has completed
his or her treatment being investigated by that Clinical Trial as described in its protocol, the database is locked, and data from
all patients, according to protocol, has been analyzed for the primary endpoint.

 

1.36.      “Phase
II Clinical Trial” shall mean a Clinical Trial conducted in humans in which the primary objective is a preliminary
determination of therapeutic efficiency and/or to find an optimal dose range in patients with

 

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CONFIDENTIAL

  

the disease target
being studied. Phase II shall be deemed to have commenced when the first patient in the study has been treated. Phase II shall
be deemed to have completed when the last patient has completed his or her treatment being investigated by that Clinical Trial
as described in its protocol, the database is locked, and data from all patients, according to protocol, has been analyzed for
the primary endpoint.

 

1.37.     “Phase
Ill Clinical Trial” shall mean a Clinical Trial conducted in humans in which the primary objective is a determination
of therapeutic efficiency in patients with the disease target being studied. Phase Ill shall be deemed to have commenced when the
first patient in the study has been treated. Phase Ill shall be deemed to have completed when the last patient has completed his
or her treatment being investigated by that Clinical Trial as described in its protocol, the database is locked, and data from
all patients, according to protocol, has been analyzed for the primary endpoint.

 

1.38.     “Price
and Reimbursement Approval” shall mean any approvals, licenses, registrations or authorizations of any supranational,
national, regional, state or local Regulatory Authority or other regulatory agency, department, bureau or governmental entity,
necessary to determine or set the pricing of a Product, and/or its reimbursement level by the relevant health authorities, providers
or other funding institutions, at supranational, national, regional, state or local level.

 

1.39.     “Regulatory
Approval” shall mean any approvals, licenses, registrations or authorizations of any supranational, national, regional,
state or local Regulatory Authority or other regulatory agency, department, bureau or governmental entity, necessary for the manufacture,
marketing or sale of a Product or conduct of Clinical Trials in a regulatory jurisdiction, excluding Price and Reimbursement Approval.

 

1.40.     “Regulatory
Authority” shall mean (i) the FDA or (ii) any and all governmental or supranational agencies, ministries, authorities
or other bodies with similar regulatory authority with respect to approval or registration of pharmaceutical or biologic products
in any other jurisdiction anywhere in the world.

 

1.41.     “Royalty
Term” shall mean with respect to each Final Product sold in a particular country, the period beginning on the date
of the First Commercial Sale in such country and terminating on the expiration of the last-to-expire or lapse of any Valid Claims
in such country covering [*].

 

1.42.     “SELEXIS
Know-How” shall mean SELEXIS’ Confidential Information and Know-How owned, controlled by SELEXIS, or to which
SELEXIS has received a license which includes a right to grant sublicenses consistent with the Commercial License relating to,
without limitation, the construction and development of recombinant cell lines for the manufacture of biopharmaceutical products
and existing as of the Effective Date or obtained thereafter during the Term.

 

1.43.     “SELEXIS
Materials” shall mean the materials provided by SELEXIS to COMPANY under this Agreement and all modifications and
improvements thereof made by SELEXIS during the Term.

 

1.44.     “SELEXIS
Patent Rights” shall mean Patent Rights which: (i) are owned or controlled by SELEXIS, or to which SELEXIS has received
a license which includes a right to grant sublicenses consistent with the

 

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CONFIDENTIAL

 

Commercial License
(ii) are necessary or useful for the use of SELEXIS Materials or the construction, development and use of Cell Lines and (iii)
are existing as of the Effective Date or obtained thereafter during the Term. Without limiting the generality this Article, the
SELEXIS Patent Rights as of the Effective Date are listed in Exhibit 1 hereto.

 

1.45.     “SELEXIS
Technology” shall mean the SELEXIS Patent Rights, the SELEXIS Know-How and the SELEXIS Materials.

 

1.46.     “Tax
Authority” shall mean the relevant governing tax authority as defined in Article 4.2.

 

1.47.     “Taxes”
shall mean all excises, taxes and duties with the exception of VAT.

 

1.48.     “Technology”
shall mean all inventions (whether or not patentable or patented) and intellectual property rights therein, including without limitation,
patents, patent applications, know-how, trade secrets, copyrights, trademarks, designs, concepts, registered and unregistered design
rights, data, work product, results, reports, improvements, business and research plans, analytic methods and results, experimental
methods and results, manufacturing processes, developments, technologies, technical information, composites of genes and gene constructs,
cell lines, manuals, standard operating procedures, instructions and specifications.

 

1.49.     “Term”
shall have the meaning set out in Article 9.1.

 

1.50.     “Territory’’
shall mean the entire world.

 

1.51.     “Third
Party” shall mean a Person other than SELEXIS, COMPANY or an Affiliate of SELEXIS or COMPANY.

 

1.52.     “Transferee”
shall have the meaning set out in Article 2.3.

 

1.53.     “Valid
Claim” shall mean any issued or granted claim of the SELEXIS Patent Rights that has not been revoked or held unenforceable
or invalid by a decision of a court or other governmental agency of competent jurisdiction, that is unappealable or remains unappealed
at the end of the time allowed for appeal, or that has not been disclaimed, denied or admitted to be invalid or unenforceable through
reissue, re-examination, disclaimer or otherwise.

 

1.54.     “VAT”
shall mean value added tax and any other similar turnover, sales or purchase, tax or duty levied by any other jurisdiction whether
central, regional or local.

 

		2.	Commercial Licenses

 

		2.1.	Commercial Licenses.
Subject to payment by COMPANY of the amounts provided for below and COMPANY’s compliance with the other terms and conditions
of this Agreement, SELEXIS hereby grants to COMPANY a non-exclusive license under the SELEXIS Patent Rights and SELEXIS Know-How,
in the Territory, with the limited right to sublicense in accordance with Article 2.2, to use (and have used only by permitted
Sublicensees in accordance with Sections 2.2 and 2.3) Company-Specific Cell Lines and

 

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CONFIDENTIAL

 

SELEXIS
Materials for the manufacture of Licensed and/or Final Products in the Licensed Field of Use and to make, have made, use, offer
for sale, sell, import and otherwise exploit Licensed and/or Final Products, including, without limitation, the use of Licensed
and Final Products in Clinical Trials (the “Commercial License”).

 

		2.2.	Sublicenses.

 

		2.2.1.	COMPANY may solely, without prior written consent from SELEXIS,
grant sublicenses under the Commercial License to (i) a Contractor or a Collaboration Partner for and only with respect to [*]
or [*], or (ii) a Collaboration Partner for and only with respect to [*] or [*]. In the event that [*] any sublicense of any rights
granted under the Commercial License to a Collaboration Partner or a Contractor [*], [*] thereof and the parties [*] sublicenses
under this Section 2.2.1 [*].

 

		2.2.2.	Any sublicenses other than those expressly permitted without
consent pursuant to Section 2.2.1, including, without limitation, with respect to [*], shall require the prior written consent
of SELEXIS, which consent will not be unreasonably withheld, conditioned or delayed.

 

		2.2.3.	If COMPANY grants any sublicenses permitted or consented
to hereunder, it shall notify SELEXIS within thirty (30) days of any such sublicense grant and report the name and address of
any such sublicensee (each, a “Sublicensee”) together with written certification by an officer of COMPANY that
the Sublicensee has agreed in writing to adhere to the relevant provisions of this Agreement. Notwithstanding the above, COMPANY
is and remains fully liable and responsible for any breach of this Agreement committed or any Losses caused by any Sublicensee,
or any other Third Party or Affiliate to whom the Company-Specific Cell Lines, SELEXIS Materials and the SELEXIS Know How or parts
thereof are made available under any such sublicense.

 

		2.3.	Tri-Party Agreements. In the event that SELEXIS is
unable, due to restrictions on its rights to permit COMPANY to grant any sublicense of any rights granted under the Commercial
License to a Collaboration Partner or a Contractor, to consent to any sublicense pursuant to Section 2.2.1, then the parties agree
to use diligent efforts to negotiate a tri-party agreement among SELEXIS, COMPANY and such Collaboration Partner or Contractor
(each a “Tri-Party Agreement”), pursuant to which: (a) SELEXIS will grant a non-transferable, non-sublicenseable,
royalty-free, non-exclusive license to such Collaboration Partner or Contractor, under the SELEXIS Know-How and the SELEXIS Patent
Rights, to use the Company-Specific Cell Lines: (i) solely for uses that are reasonably related to the development, manufacture,
use, commercialization and/or sale of the Licensed or Final Products in the relevant territory; and (ii) in accordance with Applicable
Laws; (b) such license shall be subject to obligations and restrictions comparable to those set forth in this Agreement, provided
that such Tri-Party Agreement will not include any payment obligations comparable to those set forth in Article 3 or otherwise;
and (c) COMPANY will remain responsible for all financial obligations to SELEXIS under this Agreement for the entire Territory,
including the territory granted to such Collaboration Partner or Contractor and including, without limitation, payment with respect
to any Net Sales therein.

 

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CONFIDENTIAL

 

		2.4.	Transfer of SELEXIS Materials. COMPANY shall not
transfer the Cell Lines, SELEXIS Materials or SELEXIS Know-How to any Third Party, except that during and for the Term only, COMPANY
may transfer SELEXIS Know-How to Contractors or Collaboration Partners (the “Transferees”) solely for their
use in connection with their development of the production process and/or manufacturing of Licensed Products with, or on behalf
of, COMPANY, pursuant either to a sublicense as permitted or consented to under Section 2.2 or a Tri-Party Agreement. If COMPANY
makes any such transfer, it shall notify SELEXIS within thirty (30) days of any such transfer and report the name and address
of any Transferee together with confirmation that the Transferee has agreed in writing to adhere to the confidentiality obligations
and use restrictions set out in this Agreement.

 

		3.	Consideration

 

		3.1.	Payments.

 

3.1.1.     Commercial
License Execution Payment. As partial consideration for the rights and licenses granted by SELEXIS to COMPANY under this Agreement,
COMPANY shall pay SELEXIS a one-time fee of CHF 65,000.00 (Sixty-Five Thousand Swiss Francs), due within ten (10) business days
of execution of this Agreement.

 

3.1.2.     Commercial
License Milestone Payments. As partial consideration for the rights and licenses granted by SELEXIS to COMPANY under this Agreement,
COMPANY shall make the following milestone payments to SELEXIS with respect to the first occurrence of each such milestone event
for each Licensed Product:

 

(i)    [*]
CHF 65,000.00 (Sixty-Five Thousand Swiss Francs); and

 

(ii)   [*]
CHF 300,000 (Three Hundred Thousand Swiss Francs).

 

3.1.3.    Commercial
License Royalty Payments: In addition to the milestone payments under Article 3.1.2, during the Royalty Term, COMPANY shall
pay SELEXIS on a Product-by-Product and country-by-country basis a royalty of [*] of Net Sales of all Final Products sold worldwide.
Where royalties are due for the sale of Final Products directly by COMPANY, such royalties shall be paid for each Calendar Quarter
within [*] of the end of that Calendar Quarter. Where royalties are due for the sales of Final Product by a Sublicensee, payment
shall be made within [*] of the end of that Calendar Quarter. For the avoidance of doubt, no royalty payments shall be due for
a Final Product in a specific country after the Royalty Term has expired for such Final Product in such country. Where royalties
are no longer due in accordance with the foregoing, the Commercial License granted to COMPANY under this Agreement shall become
perpetual, irrevocable, fully paid up and royalty free with respect to such Final Product in such country.

 

3.1.4.    Royalty
Buyout. At any time during the Term, COMPANY shall have the right to terminate its obligation to pay a royalty pursuant to
Section 3.1.3 of this Agreement with respect to all Final Product

 

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containing a specific
Licensed Product by paying to SELEXIS the sum of CHF 1,750,000 (One Million One Hundred Seventy-Five Thousand Swiss Francs) (a
“Royalty Termination Fee”). In order to exercise this right, COMPANY shall notify SELEXIS in accordance with
Section 11.10 of this Agreement that it is paying the Royalty Termination Fee for all Final Product containing the specified Licensed
Product in such notice. Provided that the Royalty Termination Fee is paid to SELEXIS within five (5) business days of such notice
in accordance with Section 3.2 of this Agreement, the notice shall be effective as of the first day of the Calendar Quarter in
which the notice was delivered, thereby terminating the royalty obligation for all Final Product containing the specified Licensed
Product for that Calendar Quarter and thereafter. Payment of a Royalty Termination Fee shall apply only to all Final Product containing
a single Licensed Product [*]. For avoidance of doubt, upon COMPANY paying a Royalty Termination Fee under this Agreement, no
royalties shall thereafter be due to SELEXIS under this Agreement.

 

		3.2.	Mechanism of Payment. The payments due to SELEXIS
under this Agreement shall be made either by check or by wire transfer or electronic fund transfer to the credit and account of
SELEXIS, as follows:

 

Bank Name:         [*]

 

Account:              [*]

 

		To:	Selexis S.A.

18, chemin des Aulx

1228 Plan-les-Ouates

Geneva, Switzerland

 

		3.3.	Payment Terms. Except with respect to royalties due
pursuant to Article 3.1.3, COMPANY shall make payments due to SELEXIS under this Agreement at the latest [*] business days after
receipt of invoice. All fees and payments, including without limitation under Article 3.1.3, do not include any applicable VAT
or Taxes.

 

		3.4.	Records. COMPANY and its Affiliates and Sublicensees
shall keep true accounts of Net Sales of Licensed Products and COMPANY shall deliver to SELEXIS at the same time as the payments
due under Article 3.1.3, a written account, including quantities of Net Sales of each such Licensed Product, broken down
on a country-by-country basis with respect to those payments. SELEXIS is entitled to have such accounts audited by an independent
expert of its choice. Such independent expert shall be bound by confidentiality terms at least as restrictive as the terms of
Article 8 and shall be authorized to disclose to SELEXIS only the results of its audit. COMPANY shall provide access to all information
reasonably requested by such expert. The cost of any audit shall be borne by SELEXIS unless the audit shows that COMPANY underpaid
SELEXIS by more than [*] of the amounts due, in which case, the cost of the audit shall be borne by COMPANY.

 

		3.5.	Single Royalty and Milestone. For Final Products
covered by more than one SELEXIS Patent Rights, COMPANY will make one payment to SELEXIS for royalties on any unit of Final Product
sold by COMPANY or Sublicensees, irrespective of how many SELEXIS Patent Rights may cover such Final

 

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Product. Each milestone
described in Article 3 shall be payable only once in relation to each Licensed Product, irrespective of the number of Final Products
which incorporate that Licensed Product and undergo the events triggering the payment. All fees and payments, including without
limitation under Article 3.1, do not include any applicable VAT or Taxes.

 

		4.	Taxes

 

		4.1.	General. All Taxes levied on account of any payment
made by COMPANY to SELEXIS pursuant to this Agreement (other than Taxes on income, gains or profits levied against SELEXIS by
any competent Swiss tax authority) will be the responsibility of, and shall be paid by, COMPANY pursuant to Article 4.2.

 

		4.2.	Character of Payments. The PARTIES agree that, for
purposes of determining the applicability of any Taxes, the payments to be made under this Agreement constitute payments for tangible
property and the license of intellectual property. However, in the event that the governing tax authority (the “Tax Authority”)
qualifies such payment differently, any additional taxes that may be applied (including without limitation, any interest and penalties
that may be unpaid) shall [*].

 

		4.3.	Withholding by COMPANY.

 

		(i)	All payments by COMPANY hereunder shall be made in full
without any deduction or withholding whatsoever, and free and clear of and without any deduction or withholding for or on account
of any Taxes, except to the extent that any such deduction or withholding is required by any law in effect at the time of payment.
Subject to paragraph (ii) of this Article, if any Taxes or amounts with respect to Taxes must be deducted or withheld, or any
other deductions or withholdings must be made, from any amounts payable or paid by COMPANY, [*] and [*] deduction or withholding.

 

		(ii)	[*] pursuant to paragraph (i) of this Article with respect
to any deduction or withholding [*] if [*] or [*].

 

		5.	Intellectual Property

 

		5.1.	Ownership. Each PARTY shall retain all right, title
and interest in and to its Inventions and Know-How which exist on the Effective Date or which are thereafter developed independently
of the performance of this Agreement.

 

		5.2.	COMPANY and SELEXIS Inventions. Any Invention developed
hereunder by or for either Party, solely or jointly with the other PARTY or any Affiliate or agent thereof, shall belong exclusively
(i) to COMPANY, to the extent it relates specifically to any COMPANY Technology, including, without limitation, any improvement
or modification thereto (“COMPANY Invention”); or (ii) to SELEXIS, to the extent it relates specifically to
any SELEXIS Technology, including, without limitation, any improvements or modifications thereto (“SELEXIS Invention”).
Any SELEXIS Inventions shall be included within the scope of the SELEXIS Technology licensed to COMPANY under this Agreement as
provided for within Article 5.5. Notwithstanding the foregoing, such ownership shall not be construed to transfer to either PARTY

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ownership of or any
license or other rights in or to any of the other PARTY’s underlying Technology which may be included or embodied therein,
or useful or necessary to use in connection with exploiting such Invention.

 

		5.3.	Other Inventions. Except as set forth in Article
5.2, any other Invention developed hereunder solely by COMPANY shall be COMPANY’s sole property and any other Invention
developed hereunder solely by SELEXIS shall be SELEXIS’ sole property. The PARTIES do not anticipate that there will be
any jointly developed Inventions hereunder, but if there are any other such jointly developed Inventions which do not relate to
either the SELEXIS Technology or the COMPANY Technology, such Inventions shall be owned jointly by COMPANY and SELEXIS (“Joint
Inventions”). In the event any such Joint Inventions arise, the PARTIES will use commercially reasonable efforts to
cooperate to protect and/or exploit such Joint Inventions, including, without limitation, sharing those costs incurred
through protection of such Joint Inventions and sharing in revenues generated by the use or sublicense of such Joint Inventions.

 

		5.4.	Notification. Each PARTY shall promptly notify the
other PARTY of any Invention arising in connection with this Agreement, provided, however, that COMPANY has no obligation
to notify SELEXIS with respect to any COMPANY Inventions developed solely by or on behalf of COMPANY.

 

		5.5.	Improvements. In the event SELEXIS possesses, acquires,
creates or is licensed (with the right to grant a sublicense consistent with the terms of the Commercial License) any improvements
to the SELEXIS Technology which are necessary or useful for COMPANY to use in connection with the development of Cell Lines as
licensed hereunder, such improvements shall automatically be included in the SELEXIS Patent Rights and/or the SELEXIS Know-How
and thereby disclosed and licensed at no extra cost to COMPANY in accordance with this Agreement; provided, however,
that any rights granted by the foregoing will be subject to COMPANY’s compliance with any bona fide obligations owed to
Third Parties (with respect to which, SELEXIS has notified COMPANY of such obligations), including, without limitation, [*].

 

		5.6.	Third Party Patent Rights. SELEXIS covenants that if SELEXIS becomes aware that
                                                                              COMPANY’s use of the SELEXIS Technology in accordance with the terms hereunder would or would likely infringe any Third
                                                                              Party proprietary rights, SELEXIS shall use its reasonable commercial efforts to resolve such potential infringement at
                                                                              SELEXIS’ cost to ensure COMPANY’s freedom to continue to exercise the licenses granted under this Agreement,
                                                                              including without limitation, by using its reasonable commercial efforts to obtain a license from such Third Party owner of
                                                                              proprietary rights which entitles SELEXIS to continue to grant the rights to COMPANY as provided for herein. Should
                                                                              such efforts not be successful, SELEXIS shall inform COMPANY in writing and thereafter, subject to such notification, either
                                                                              PARTY may terminate this Agreement with immediate effect, save that SELEXIS shall not have such right if COMPANY agrees to
                                                                              waive any liability SELEXIS would otherwise have to COMPANY hereunder with respect to the infringement of such Third Party
                                                                              proprietary rights. The obligations set forth in this Article pertain solely to Third Party rights specifically and solely
                                                                              related to the SELEXIS Technology or SELEXIS Materials licensed hereunder, and do not apply to any other technology or
                                                                              materials used by COMPANY at its discretion in

 

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connection with its
exercise of the license rights granted hereunder, and specifically exclude any such Third Party rights which relate to the Licensed
Product(s) produced by any Cell Lines hereunder.

 

		5.7.	Enforcement of SELEXIS Patent Rights. If, during
the Term, either PARTY becomes aware of any infringement or potential infringement of the SELEXIS Technology, it shall promptly
notify the other PARTY in writing and the PARTIES shall immediately consult with each other to decide the best way to respond
to such infringement or misuse, provided that SELEXIS shall remain free to take any action it deems fit and in its sole discretion.

 

		5.8.	COMPANY Publications. COMPANY shall have the unrestricted
right to publish or otherwise disclose the results and data obtained by the practice of the SELEXIS Technology in accordance with
the terms hereof, provided, however, that such publication or disclosure does not include any Confidential Information
of SELEXIS. The name of SELEXIS shall be given proper recognition in such publication(s) as scientifically appropriate.

 

		5.9.	Further Assurance. Each PARTY agrees to execute and
effect all necessary steps at the cost of the other PARTY (if not specifically agreed to otherwise) and as the other PARTY may
reasonably require to give the other PARTY the full benefit of the provisions of this Article 5.

 

		6.	Representations, Warranties, and Covenants

 

		6.1.	General. Except for the representations, warranties
and covenants set forth in this Article 6, the PARTIES do not make any other representations, nor give any other warranties, express
or implied, nor undertake to any other covenants. The PARTIES expressly exclude any and all other representations, warranties
and covenants.

 

		6.2.	Representations and Warranties by the PARTIES. Each
PARTY hereby represents and warrants to the other PARTY that:

 

6.2.1.    Corporate
Power. It is duly organized and validly existing under the laws of the state (or country or other jurisdiction, as the case
may be) of its incorporation and has full corporate power and authority to enter into this Agreement and to carry out the provisions
hereof.

 

6.2.2.    Due
Authorization. It is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the
persons executing this Agreement on its behalf have been duly authorized to do so by all requisite corporate actions.

 

6.2.3.    Binding
Agreement. This Agreement is a legal and valid obligation binding upon it and is enforceable in accordance with its terms,
except as enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium and other
laws relating to or affecting creditors’ rights generally and by general equitable principles and public policy.

 

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6.2.4.    No
Conflicts. The execution, delivery and performance of this Agreement by itself does not conflict with any agreement, instrument
or understanding, oral or written, to which it is a PARTY or by which it may be bound.

 

6.2.5.    Intellectual
Property Rights. Each PARTY represents that it has valid and sufficient arrangements and agreements with its directors, officers
and employees (which term shall include agents, consultants and subcontractors) such that ownership of intellectual property rights
in and to any Inventions made by its directors, officers and employees vests in such PARTY.

 

		6.3.	Additional Representations and Warranties by SELEXIS.
SELEXIS hereby represents and warrants that, to the best of its knowledge, as of the Effective Date:

 

6.3.1.    There
is no pending litigation asserting that the use of the SELEXIS Technology or the SELEXIS Know-How constitutes an infringement or
misappropriation of any intellectual property rights of a Third Party;

 

6.3.2.    SELEXIS
has the right in and to the SELEXIS Technology, SELEXIS. Know-How and the SELEXIS Patents to grant COMPANY the rights which are
granted to COMPANY under this Agreement; and

 

6.3.3.    SELEXIS
has the rights necessary to grant a non-transferable, non-sublicenseable royalty-free, non-exclusive license to a Collaboration
Partner or Contractor, under the SELEXIS Know-How and the SELEXIS Patent Rights, to use the Company-Specific Cell Lines solely
for uses that are reasonably related to the development, manufacture, use, commercialization and/or sale of the Licensed or Final
Products in part of the Territory, as contemplated by Section 2.3.

 

		6.4.	Additional Warranties
                                         by COMPANY. COMPANY hereby represents and warrants to SELEXIS that:

 

6.4.1.    There
are no Third Party intellectual property rights or any other rights that may be asserted against SELEXIS claiming that SELEXIS
was or is directly infringing or is helping or assisting COMPANY in infringing such Third Party’s rights in connection with
COMPANY’s exercise of the Commercial License granted by SELEXIS hereunder (except to the extent that any such Third Party
rights relate solely and specifically to the SELEXIS Technology and/or SELEXIS Materials), including, without limitation, the development,
manufacture and commercialization of Licensed Products and/or Final Products as permitted hereunder; and

 

6.4.2.    As
of the Effective Date, to the best of its knowledge, there is no litigation pending against COMPANY in connection with the use
or ownership of the Company Protein and/or Licensed Product, including, without limitation, the infringement or misappropriation
of any intellectual property rights of a Third Party relating to the Company Protein and/or Licensed Product, and COMPANY has not
received any written claim that the use thereof infringes on any intellectual property rights of a Third Party or a request or
demand from any Third Party for the licensing of any intellectual property rights to such Third Party in connection with the use
of the Company Protein and/or Licensed Product.

 

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6.4.3.    COMPANY
will not knowingly misappropriate or infringe the intellectual property or other rights of any Third Party in connection with its
exercise of its licensed rights hereunder, including, without limitation, use of any SELEXIS Technology, Cell Line, or development,
manufacture or sale of Licensed and/or Final Product hereunder, and understands and agrees that SELEXIS will have no liability
whatsoever for any such misappropriation or infringement to the extent they do not relate solely and specifically to the use of
the SELEXIS Technology and/or SELEXIS Materials hereunder.

 

		6.5.	Disclaimer of Warranties
by SELEXIS. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT AND WITHOUT LIMITING THE GENERALITY OF ARTICLE 6.1, SELEXIS DOES
NOT MAKE NOR GIVE ANY REPRESENTATION OR WARRANTY TO COMPANY OF ANY NATURE, EXPRESS OR IMPLIED, THAT THE SELEXIS TECHNOLOGY WILL
BE USEFUL FOR, OR ACHIEVE ANY PARTICULAR RESULTS AS A RESULT OF ANY USE THEREOF BY SELEXIS OR BY COMPANY PURSUANT TO ANY LICENSE
GRANTED TO COMPANY UNDER THIS AGREEMENT. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, SELEXIS SPECIFICALLY DISCLAIMS ANY WARRANTY
OF NONINFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

 

		7.	Liability and Indemnification

 

		7.1.	Indemnification by
SELEXIS. During the Term and thereafter, SELEXIS hereby agrees to save, defend and hold COMPANY, its Affiliates, and their
respective officers, directors, employees, consultants and agents harmless from and against any and all Losses resulting directly
from (i) any Third Party claim alleging that Customer’s use of the SELEXIS Technology and/or the SELEXIS Materials in strict
accordance with the terms of this Agreement infringes or misappropriates such Third Party’s intellectual property or other
property right (except to the extent such claim relates to the use of the SELEXIS Technology and/or SELEXIS Materials in combination
with any technologies or materials not supplied by SELEXIS or any modifications made by anyone other than SELEXIS to the SELEXIS
Technology or SELEXIS Materials); or (ii) any material breach of SELEXIS’ representations, warranties and covenants set
forth in Article 6; except in each case to the extent that such Losses were caused by willful misconduct or gross negligence of
COMPANY or any of its Affiliates, Collaborators or Sublicensees. In the event COMPANY seeks indemnification under this Article
7.1, COMPANY shall notify SELEXIS of any claim as soon as reasonably practicable after it receives notice of the claim. COMPANY
shall then allow SELEXIS to conduct and control the defense against the claim (including without limitation to settle the claim
solely for monetary consideration), shall (at SELEXIS’ expense) execute and deliver such documents and other papers and
take such further actions as may be reasonably required to defend against the claim (including without limitation to settle the
claim solely for monetary consideration) and shall (at SELEXIS’ expense) cooperate as requested by SELEXIS in the defense
of the claim, provided always that SELEXIS may not settle any such claim or otherwise consent to an adverse judgment or

 

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order
in any relevant action or other proceeding which includes any admission as to liability or fault without the prior express written
consent of COMPANY, which consent will not be unreasonably withheld.

 

		7.2.	Indemnification by
COMPANY. During the Term and thereafter, COMPANY hereby agrees to save, defend and hold SELEXIS and its officers, directors,
employees, consultants and agents harmless from and against any and all Losses resulting directly from (i) Third Party claims
in connection with personal injury or damages to property caused by the Company Protein, Licensed Products and/or Final Products,
including, without limitation, any product liability claims however stated; (ii) Third Party claims relating to any use of the
Cell Lines, SELEXIS Technology and/or SELEXIS Materials outside the scope of the license granted herein or otherwise not in strict
compliance with the terms hereof, or any use of the Cell Lines, SELEXIS Technology and/or SELEXIS Materials in conjunction with
technology or materials not provided by SELEXIS, or any modifications to the SELEXIS Technology and/or SELEXIS Materials (except
in each of the foregoing cases, to the extent SELEXIS is obligated to indemnify COMPANY pursuant to Article 8.1 above); or (iii).
any material breach of COMPANY’s representations, warranties and covenants set forth in Article 6; in each case, except
to the extent that such Losses result from the willful misconduct or gross negligence of SELEXIS or its Affiliates. In the event
SELEXIS seeks indemnification under this Article, SELEXIS shall notify COMPANY of any claim as soon as reasonably practicable
after it receives notice of the claim. SELEXIS shall then allow COMPANY to assume direction and control of the defense of the
claim (including without limitation the right to settle the claim solely for monetary consideration), and shall (at COMPANY’s
expense) execute and deliver such documents and other papers and take such further actions as may be reasonably required to defend
against the claim (including without limitation to settle the claim solely for monetary consideration). SELEXIS shall (at COMPANY’s
expense) cooperate as requested by COMPANY in the defense of the claim, provided always that COMPANY may not settle any such claim
or otherwise consent to an adverse judgment or order in any relevant action or other proceeding which includes any admission as
to liability or fault without the prior express written consent of SELEXIS, which consent will not be unreasonably withheld.

 

		7.3.	No Incidental or Consequential Damages. In no event
shall either PARTY be responsible for any incidental or consequential damages, including without limitation, lost profits or opportunities;
provided that the foregoing shall in no event limit a PARTY’s indemnification obligation under Article 7.1 or Article 7.2 hereinabove.

 

		7.4.	Limitation of Liability. Except with respect to its
indemnification obligations under Article 7.1, [*] cumulative liability under this Agreement, whether in contract, in tort, or
otherwise, shall in no event exceed [*]. With respect to its indemnification obligations under Article 7.1, [*] cumulative liability
shall in no event exceed [*].

 

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		8.	Confidentiality

 

		8.1.	Non-disclosure.
                                         During the Term of this Agreement and for [*] thereafter, each PARTY shall keep Confidential
                                         Information of the other PARTY confidential and shall not (i) use the other PARTY’s
                                         Confidential Information for any purpose not expressly permitted under this Agreement,
                                         nor (ii) disclose the other PARTY’s Confidential Information to any Person other
                                         than those of its agents, employees, and consultants (collectively, “Representatives”)
                                         who need to know such Confidential Information for a use or purpose expressly permitted
                                         under this Agreement. Any such Representative who receives Confidential Information pursuant
                                         to this Article 8.1 shall be bound by written obligations of confidentiality and non-use
                                         with respect to the Confidential Information that are no less stringent than the obligations
                                         set forth in this Agreement.

 

		8.2.	Exceptions. The confidentiality obligations set forth
in Article 8.1 shall not apply to Confidential Information that (i) is, or becomes, public information other than as the result
of the violation of this Agreement or other act or omission by the receiving PARTY or its Representatives; (ii) was lawfully known
to the receiving PARTY or its Representatives without restriction on use or disclosure at the time of disclosure hereunder; (iii)
is hereafter lawfully received by the receiving PARTY or its Representatives from a Third Party authorized to make such disclosure
and without restriction on use or disclosure; or (iv) is approved for release by prior written consent from the disclosing Party.

 

		8.3.	Authorized Disclosures. Notwithstanding any provision
of this Agreement to the contrary:

 

8.3.1.       COMPANY
may disclose this Agreement to any potential Contractor or Collaboration Partner in connection with its discussions relating to
a possible arrangement with such Contractor or Collaboration Partner, provided, however, that such potential Contractor
or Collaboration Partner is subject to confidentiality obligations with reasonable scope and duration and no less stringent than
the obligations set forth in this Agreement; and (ii) such Contractor or Collaboration Partner is contractually restricted from
using this Agreement for any purpose other than as reasonably necessary to carry out the discussions with COMPANY.

 

8.3.2.       Each
PARTY may disclose Confidential Information of the other PARTY to the extent such disclosure is required by law, provided,
however, that the receiving PARTY gives the disclosing PARTY reasonable prior written notice to enable the disclosing PARTY
to take appropriate measures to protect its Confidential Information and fully cooperates, subject to commercially reasonable efforts,
with the disclosing PARTY to prevent or limit, to the greatest extent possible, the disclosure of Confidential Information.

 

		8.4.	Use of Name. No right, express or implied, is granted
to either PARTY by this Agreement to use in any manner any trademark or trade name of the other PARTY, including the names “Oncobiologics”
and “SELEXIS” without the prior written consent of the PARTY entitled to use such trademark or trade name.

 

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		9.	Term and Termination

 

		9.1.	Term. This Agreement is effective as of the Effective
Date. Unless earlier terminated pursuant to Articles 9.2, 9.3 or 9.4, this Agreement shall remain in full force and effect until
expiration of the last-to-expire of the SELEXIS Patent Rights (the “Term”).

 

		9.2.	Termination for Default. In addition to any other
remedies which may be available at law or equity, in the event of any material breach of this Agreement (the “Default”)
by a PARTY (the “Defaulting Party”), the PARTY not in default (the “Non-Defaulting Party”)
shall have the right to give the Defaulting Party a written notice thereof (the “Notice of Default”), whereby
such notice must state the nature of the Default in reasonable details and request that the Defaulting Party cure such Default
within [*]. If such Default is not cured within [*] after receipt of a Notice of Default by the Defaulting Party or if such Default
cannot be cured, the Non-Defaulting Party may, at its sole discretion, terminate this Agreement by written notice effective upon
receipt

 

		9.3.	Termination for Bankruptcy. In the event that a PARTY
shall become insolvent or make any arrangement with its creditors or has a receiver or administrator appointed to the whole or
any part of its assets, or if an order shall be made or a resolution passed for its winding up unless such order or resolution
is part of a scheme for its amalgamation or reconstruction (the “Insolvent Party”), the other PARTY shall have
the right, at its sole discretion, to serve immediate notice of termination of this Agreement, effective upon receipt.

 

		9.4.	Termination by COMPANY. COMPANY may terminate this
Agreement for convenience at any time by giving [*] written notice to SELEXIS.

 

		9.5.	Consequences of Expiration or Termination.

 

9.5.1.     Termination
of Licenses. In the event of a termination of this Agreement by COMPANY pursuant to Article 9.2. 9.3 or 9.4 or by SELEXIS pursuant
to Article 9.2 or 9.3, all and any rights and licenses granted under this Agreement shall terminate upon termination of this Agreement,
except for the licenses which have become perpetual pursuant to Article 3.1.3.

 

9.5.2.     SELEXIS
Technology and Confidential Information. Upon termination of this Agreement under Article 9.2 or Article 9.3 where COMPANY
is the Insolvent Party, or Article 9.4, COMPANY shall dispose of all tangible embodiments of the SELEXIS Technology and SELEXIS
Confidential Information, including without limitation the SELEXIS Materials and Cell Lines, and render inaccessible or useless
all electronic embodiments, of SELEXIS Confidential Information provided to COMPANY by SELEXIS hereunder, except that (a) COMPANY
may retain one copy of the SELEXIS Confidential Information delivered hereunder in its secured legal files only for ensuring compliance
with the terms of this Agreement and (b) such obligation shall not apply with respect to SELEXIS Technology and SELEXIS Confidential
Information necessary or useful with respect to the practice of any licenses that have become perpetual pursuant to Article 3.1.3.

 

9.5.3.     COMPANY
Confidential Information. Upon any expiration or termination of this Agreement, SELEXIS shall dispose of all tangible embodiments,
and render inaccessible or useless all electronic

 

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embodiments, of COMPANY
Confidential Information provided to SELEXIS by COMPANY hereunder, except that SELEXIS may retain one copy of the COMPANY’s
Confidential Information delivered hereunder in its secured legal files only for ensuring compliance with the terms of this Agreement.

 

9.5.4.      Accrued
Obligations. Expiration or termination of this Agreement shall not relieve the PARTIES of any obligation or liability accruing
prior to such expiration or termination.

 

		10.	Miscellaneous

 

		10.1.	Assignment. Neither this Agreement nor any interest
hereunder shall be assignable by either PARTY without the prior written consent of the other PARTY; provided, however,
that either PARTY may assign this Agreement and all of its rights and obligations hereunder, without such prior written consent,
to an entity” which acquires all or substantially all of the business or assets of such PARTY (or the business or assets
to which this Agreement pertains) whether by merger, consolidation, reorganization, acquisition, sale or otherwise; and COMPANY
may assign this Agreement and all of its rights and obligations hereunder, without such consent, to an Affiliate if COMPANY remains
liable and responsible for the performance and observance of all of the Affiliate’s duties and obligations hereunder, and
provided that such Affiliate is not a Contract Manufacturing Organization. This Agreement shall be binding upon the successors
and permitted assigns of the PARTIES and the name of a PARTY appearing herein shall be deemed to include the names of such PARTY’s
successors and permitted assigns to the extent necessary to carry out the intent of this Agreement. Any assignment not in accordance
with this Article 10.1 shall be null and void.

 

		10.2.	Compliance with Governmental Obligations. Each PARTY
shall comply, upon reasonable notice from the other PARTY, with all governmental requests directed to either PARTY relating to
this Agreement and provide all information and assistance necessary to comply with the governmental requests.

 

		10.3.	Counterparts. This Agreement may be executed in any
number of counterparts, each of which need not contain the signature of more than one PARTY but all such counterparts taken together
shall constitute one and the same agreement, and may be executed through the use of electronic .PDF’s or facsimiles.

 

		10.4.	Dispute Resolution. The PARTIES agree that in the
event of a dispute between them arising from, concerning or in any way relating to this Agreement, the PARTIES shall undertake
good faith efforts to resolve any such dispute, with the matter being referred at the request of either PARTY to the General Counsel
(or chief legal officer) of each PARTY and, if remaining unresolved after [*], then to the Chief Executive Officers of each PARTY
(or their designees). If after [*] of the matter first being referred to the General Counsel, the PARTIES are unable to resolve
such dispute, either PARTY may, pursuant to Article 10.16, seek any remedy available at law.

 

		10.5.	Entire Agreement.
This Agreement sets forth all of the covenants, promises, agreements, representations, warranties, conditions and understandings
between the PARTIES with respect to the subject matter hereof,

 

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and
constitutes and contains the complete, final, and exclusive understanding and agreement of the PARTIES with respect to the subject
matter hereof, and cancels, supersedes and terminates all prior agreements and/or understanding between the PARTIES with respect
to the subject matter hereof. There are no covenants, promises, agreements, representations, warranties, conditions or understandings,
whether oral or written, between the PARTIES other than as set forth herein. No subsequent alteration, amendment, change or addition
to this Agreement shall be binding upon the PARTIES hereto unless reduced to writing
and signed by the respective authorized officers of the PARTIES. For the avoidance of doubt, and to the extent of any inconsistency
between this Agreement and the Research License Agreement, the terms of this Agreement shall govern and prevail.

 

		10.6.	Force Majeure. Neither PARTY shall be liable to the
other for loss, damages, default or delay due to Force Majeure, provided that the PARTY affected by a case of Force Majeure gives
prompt notice of such case to the other PARTY. The PARTY giving such notice shall thereupon be excused from its obligations hereunder
as it is thereby disabled from performing for so long as it is so disabled, provided, however, that such affected
PARTY commences and continues to take reasonable and diligent actions to cure such cause; and provided further that if any Force
Majeure delays or prevents the performance of the obligations of either PARTY for a continuous period in excess of [*] days, the
PARTY not affected shall then be entitled to terminate this Agreement, which termination shall be effective upon [*] written notice
to the affected PARTY. Such a termination shall be irrevocable, except otherwise provided by the PARTIES and upon termination,
the provisions of Article 9.5 shall apply.

 

		10.7.	Further Actions. Each PARTY agrees to execute, acknowledge
and deliver such further instruments, and to effect all such other acts, as may be necessary or appropriate in order to carry
out the purposes and intent of the Agreement.

 

		10.8.	Independent Contractors. The relationship between
SELEXIS and COMPANY created by this Agreement is one of independent contractors and neither PARTY shall have the power or authority
to bind or obligate the other PARTY except as expressly set forth in this Agreement.

 

		10.9.	Interpretation of Agreement. Articles and other descriptive
headings used in this Agreement are for reference purposes only and shall not constitute a part hereof or affect the meaning or
interpretation of this Agreement. Whenever the context so requires, the use of the singular shall be deemed to include the plural
and vice versa.

 

		10.10.	License Obligations. Nothing in this Agreement imposes
any obligation upon a PARTY to enter into any other license or agreement with the other PARTY.

 

		10.11.	Notices. All notices and other communications required
by this Agreement shall be in writing in the English language and shall be deemed transmitted if delivered personally or by electronic
or facsimile transmission (receipt verified), mailed by registered or certified mail (return receipt requested), postage prepaid,
or sent by express courier service, to the PARTIES at the following addresses (or at such other

 

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addresses that a
PARTY specifies by like notice, provided, however, that notices of a change of address shall be effective only upon
written receipt thereof):

 

	 	If to COMPANY, addressed to:
	 	 	Oncobiologics, Inc.
	 	 	7 Clarke Drive
	 	 	Cranbury, NJ 08512
	 	Attention:	Stephen J. McAndrew, Ph.D.
	 	 	VP, Business Development
	 	With a copy to:	CEO, Pankaj Mohan, Ph.D., MBA
	 	Facsimile:	(609) 619-3980
	 	 	 
	 	If to SELEXIS, addressed to:
	 	 	Selexis S.A.
	 	 	18 Chemin des Aulx
	 	 	1228 Plan-les-Ouates
	 	 	Geneva, Switzerland
	 	 	 
	 	Attention:	Sophie Vock
	 	 	 
	 	With a copy to:	CEO, Igor Fisch, Ph.D.
	 	 	 
	 	Facsimile:	+41 22 308-9361

 

		10.12.	Binding Effect. This Agreement shall be binding upon
and inure solely to the benefit of COMPANY and SELEXIS (and their permitted successors and assigns) and nothing in this Agreement
(express or implied) is intended to or shall confer upon any Third Party any rights, benefits or remedies of any nature whatsoever
under or by reason of this Agreement.

 

		10.13.	Severability. If any term, covenant or condition
of this Agreement or the application thereof to any PARTY or circumstance shall, to any extent, be held to be invalid or unenforceable,
then the remainder of this Agreement, or the application of such term, covenant or condition to PARTIES or circumstances other
than those as to which it is held invalid or unenforceable, shall therefore not be affected and each term, covenant or condition
of this Agreement shall be valid and be enforced to the fullest extent permitted by applicable law.

 

		10.14.	Waiver. The failure on the part of a PARTY to exercise
or enforce any rights conferred upon it hereunder shall not be deemed to be a waiver of any such rights nor operate to bar the
exercise or enforcement thereof at any time or times hereafter.

 

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CONFIDENTIAL

 

		10.15.	Survival. Articles 1, 3.1.3, 3.4, 4, 5, 6, 7, 8,
9.5 and 10 shall survive any termination or expiration of this Agreement in accordance with their terms.

 

		10.16.	Governing Law and Jurisdiction. This Agreement shall
be governed by and construed in accordance with the substantive laws of [*], without regard to principles of conflict of laws.
Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of
[*].

 

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CONFIDENTIAL

 

IN WITNESS WHEREOF, the PARTIES, having read
the terms of this Agreement and intending to be legally bound, do hereby execute this Agreement:

 

	SELEXIS SA	 	ONCOBIOLOGICS, INC.
	 	 	 	 	 
	Signature:	  /s/ Girod Pierre-Alain	 	Signature:	  /s/ Pankaj Mohan
	 	 	 	 	 
	Place, Date:  April 16, 2013	 	Place, Date:	7 Clarke Drive, Cranbury, NJ 08512
	 	 	 	April 11, 2013
	 	 	 	 
	Name:  GIROD Pierre-Alain	 	Name:  Pankaj Mohan, Ph.D., MBA
	 	 	 
	Title: Chief Scientific Officer	 	Title:  Chief Executive Officer
	 	 	 	 
	Signature:	  /s/ Regine Brokamp	 	Signature:	  /s/ Stephen J. McAndrew
	 	 	 	 	 
	Place, Date:  PLO, April 15th, 2013	 	Place, Date:	7 Clarke Drive, Cranbury, NJ 08512
		 	 	April 11, 2013
	Name:  Regine Brokamp	 	Name:  Stephen J. McAndrew, Ph.D.
	 	 	 
	Title: COO	 	Title:  Vice President, Business Development

 

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CONFIDENTIAL

 

EXHIBIT 1

 

[*]

 

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EXHIBIT 2

 

LICENSED PRODUCTS

 

		1.	ONS-3010, Humira Biosimilar

 

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CONFIDENTIAL

 

AMENDMENT
NO. 1

TO

COMMERCIAL LICENSE AGREEMENT

 

This Amendment No. 1 to the Commercial License Agreement
(the “Amendment”), effective as of May 21, 2014 (the “Amendment Effective Date”), is by and between Selexis
SA (“Selexis”) and Oncobiologics, Inc. (“Company”).

 

WHEREAS, Company and Selexis entered into and executed
the Commercial License Agreement dated April 11, 2013 (the “Agreement”) relating to Company’s Licensed and/or
Final Product referred to as ONS-3010; and

 

WHEREAS, the parties desire to modify the Agreement
to revise Company’s sublicense rights.

 

NOW, THEREFORE, in consideration of the mutual obligations
and covenants set out herein and for good consideration, the parties agree as follows:

 

1.         Section
2.2.1 of the Agreement is deleted in its entirety and replaced with the following:

 

2.2.1           COMPANY
may, without prior written consent from SELEXIS, grant sublicenses under the Commercial License to a Contractor or to a Collaboration
Partner and only with respect to (i) [*], or (ii) [*]. A Collaboration Partner may further grant a sub-sublicense, only with prior
written consent from SELEXIS where such consent is not to be unreasonably withheld, conditioned or delayed, under the Commercial
License to a Contractor only with respect to [*].

 

2.         Section
2.2.2 of the Agreement is deleted in its entirety and replaced with the following:

 

2.2.2           Any
sublicenses other than those expressly permitted without consent pursuant to Section 2.2.1 shall require the prior written consent
of SELEXIS, which consent will not be unreasonably withheld, conditoned or delayed.

 

3.         Section
2.3 is deleted in its entirety.

 

4.         Section
2.4 is renumbered as Section 2.3, and the last clause of the first sentence (beginning with “...pursuant either to...”)
is deleted and replaced with “pursuant to a sublicense as permitted or consented to under Section 2.2.”

 

5.         In Section
1.30, the reference to the tri-party agreement is removed, so that the sentence begins: “...shall mean the amount collected
by COMPANY, its Affiliates and its Sublicensees, on account of sales of Final Product to Third Parties in the Territory, less the
following deductions:”

 

6.         All capitalized
terms used in the Agreement will have the same meaning where used in this Amendment. In the event of a conflict or inconsistency
between this Amendment and the Agreement, the applicable terms and conditions of this Amendment shall prevail. All terms and

 

     

     

    

 

CONFIDENTIAL

 

conditions of the Agreement that are not amended herein shall remain
unchanged and in full force and effect.

 

7.         This Amendment
may be executed in one or more counterparts, each of which shall be deemed an original but all of which taken together shall constitute
one and the same document. In addition, this document may be executed by facsimile, and the parties agree that facsimile copies
of signatures shall have the same effect as original signatures.

 

In Witness
Whereof, the Parties have executed this Amendment by their proper officers as of the Effective Date.

 

	SELEXIS SA	 	ONCOBIOLOGICS, INC.
	 	 	 
	By:	  /s/ Regine Brokamp	 	By:	 
	 	 	 	 	 
	Name:	      Regine Brokamp	 	Name:	   Stephen J. McAndrew, Ph.D.
	 	 	 	 	 
	Title:	     COO	 	Title:	   Vice President, Business Development
	 	 	 	 	 
	Date:	     May 23rd, 2014	 	Date:	   May 21, 2014
	 	 	 	 	 
	 	     /s/ Igor Fisch	 	 	 
	 	     Igor Fisch	 	 	 
	 	     CEO	 	 	 
	 	     May 23rd, 2014

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