Document:

Exhibit 4. 9   

NATIONAL
INSTITUTES OF HEALTH

 

SECOND
AMENDMENT TO L-249-2001/0

 

This
is the second amendment (“Second Amendment”) of the agreement by and between the National Institutes of Health
(“NIH”) or within the Department of Health and Human Services (“HHS”), and Can-Fite BioPharma,
Ltd. having an effective date of January 29, 2003 and having NIH Reference Number L-249-2000/0, as amended by the first
amendment to the agreement, having an effective date of August 15,2005, and having NIH reference Number L-249-2000/1 (“First
Amendment”) (hereinafter collectively referred to as the “Agreement”). This Second Amendment,
having NIH Reference Number L-249-2001/2, is made between the NIH through the Office of Technology Transfer, NIH,
having an address at 6011 Executive Boulevard, Suite 325, Rockville, Maryland 20852-3804, U.S.A., and Can-Fite BioPharma, Ltd.
(“Can-Fite”), having an office at 10 Bareket Street, Kiryat Matalon, P.O.Box 7537, Petach Tikva 49170, Israel, the
(“Licensee”). This second Amendment includes, in addition to the amendments made below, 1) a Signature
Page and 2) Attachment 1 (Royalty Payment Information).

 

Whereas,
the NIH and the Licensee desire that the Agreement be amended a second time as set forth below in order
to accommodate the desire to discontinue or drop Licensed Fields of Use and for modifying Appendix E -
Benchmarks and Performance.

 

NOW,
THEREFORE, in consideration of the mutual covenants and promises contained herein, the NIH and the Licensee, intending
to be bound, hereby mutually agree to the following:

 

Appendix
E - Benchmarks and Performance shall be deleted in its entirety and be replaced with a new Appendix E - Benchmarks and
Performance that shall now read:

 

APPENDIX
E –Benchmarks and Performance

 

Licensee
agrees to the following Benchmarks for its performance under this Agreement and, within thirty (30) days of
achieving a Benchmark, shall notify PHS that the Benchmark has been achieved.

 

Regulatory
Benchmarks for the Prime Indications

 

For the Anti-cancer
therapeutic indication (for C1-IB-MECA):

 

		1.	Initiate FDA Phase I clinical
                                                               trial or foreign equivalent by the end of first quarter 2008.

 

		2.	Initiate
                                                                                 FDA Phase I/II clinical trial or foreign equivalent
                                                                                 by the end of third quarter 2009.

 

		3.	Initiate FDA Phase II clinical
                                                               efficacy trial or foreign equivalent by the end of the second half
                                                               of 2013. (Anti-viral indication will also be evaluated as part of
                                                               this study where patients with Liver Cancer and infected with Hepatitis
                                                               B and C will be enrolled. The plan is to follow the viral load
                                                               in each patient all along the study period).

 

		4.	Initiate FDA Phase III clinical
                                                               trial or foreign equivalent by the end of the first quarter of 2015.

 

		5.	Submit a New Drug Application
                                                               (NDA) (or its equivalent) to the FDA (or its foreign equivalent)
                                                               for a Licensed Product or Process by the end of second quarter
                                                               2017.

 

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Regulatory
Benchmarks for the Non-Prime Indications

 

		I.	For
                                                                                                                                           the
                                                                                                                                           Arthritis
                                                                                                                                           therapeutic
                                                                                                                                           indication:
                                                                                                                                           (Phase
                                                                                                                                           I
                                                                                                                                           and
                                                                                                                                           II
                                                                                                                                           studies
                                                                                                                                           using
                                                                                                                                           IB-MECA
                                                                                                                                           have
                                                                                                                                           already
                                                                                                                                           been
                                                                                                                                           accomplished
                                                                                                                                           for
                                                                                                                                           this
                                                                                                                                           indication):
                                                                                                                                           

 

		1.	Initiate
                                                                                                                                            FDA
                                                                                                                                            Phase
                                                                                                                                            IIb
                                                                                                                                            clinical
                                                                                                                                            efficacy
                                                                                                                                            trials
                                                                                                                                            or
                                                                                                                                            foreign
                                                                                                                                            equivalent
                                                                                                                                            in
                                                                                                                                            rheumatoid
                                                                                                                                            arthritis
                                                                                                                                            by
                                                                                                                                            the
                                                                                                                                            end
                                                                                                                                            of
                                                                                                                                            second
                                                                                                                                            quarter
                                                                                                                                            of 2006.

		2.	Initiate FDA Phase III clinical
                                                                trials or foreign equivalent by the end of second half of 2013.

		3.	Submit
                                                                a New Drug Application (NDA) (or its equivalent) to the FDA (or
                                                                its foreign equivalent) for a Licensed Product or Process by the
                                                                end of fourth quarter 2016.

 

		1)	Within sixty (60) days of the execution
                                                           of this Second Amendment, the Licensee shall pay the
                                                           NIH an amendment issue royalty in the sum of Twenty Five Thousand
                                                           US Dollars ($25,000), and payment options may be found in Attachment
                                                           1.

 

		2)	In the event any provision(s) of the
                                                           Agreement is/are inconsistent with Attachment 1, such provision(s)
                                                           is/are hereby amended to the extent required to avoid such inconsistency
                                                           and to give effect to the payment information in such Attachment 1.

 

		3)	All terms and conditions of the Agreement
                                                           not herein amended remain binding and in effect.

 

		4)	The terms and conditions of this Second
                                                           Amendment shall, at the NIH’ sole option, be considered
                                                           by the NIH to be withdrawn from Licensee’s consideration
                                                           and the terms and conditions of this Second Amendment, and the
                                                           Second Amendment itself, to be null and void, unless this Second
                                                           Amendment is executed by the Licensee and a fully executed
                                                           original is received by the NIH within sixty (60) days from
                                                           the date of the NIH’s signature found at the Signature Page.

 

		5)	This Second Amendment is effective
                                                           upon execution by all parties.

 

SIGNATURES
BEGIN ON NEXT PAGE

 

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SECOND
AMENDMENT TO L-249-2001/0

 

SIGNATURE
PAGE

 

In Witness
Whereof, the parties have executed this Second Amendment on the dates set forth below. Any communication or notice to be
given shall be forwarded to the respective addresses listed below.

 

For the NIH:

 

	/s/ Richard
    U. Rodriguez	 	1-11-13
	Richard U. Rodriguez	 	Date
	Director, Division of Technology Development and
    Transfer	 	 
	Office of Technology Transfer	 	 
	National Institutes of Health	 	 

 

Mailing Address or E-mail Address
for Agreement notices and reports:

 

Chief, Monitoring
& Enforcement Branch, DTDT

Office of
Technology Transfer

National institutes of Health

6011 Executive
Boulevard, Suite 325

Rockville,
Maryland 20852-3804 U.S.A.

 

E-mail: LicenseNotices_Reports@mail.nih.gov

 

For the Licensee (Upon
information and belief, the undersigned expressly certifies or affirms that the contents of any statements of the Licensee
made or referred to in this document are truthful and accurate.);

 

	 /s/ Pnina
    Fishman	 	2-4-13
	Signature of Authorized Offical	 	Date

 

Name: Pnina Fishman

Title: CEO

 

		I.	Official
                                                                                                    and Mailing Address for Agreement
                                                                                                    notices:

 

	Pnina
    Fishman
	Name
	 
	CEO
	Title

 

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Mailing Address:

 

	Can-Fite BioPharma, Ltd.
	 
	10
    Bareket Street
	 
	P.O.Box 7537
	 
	Petach Tikva 49170, Israel

 

	Email Address:	pnina@canfite.co.il
	 	 
	Phone:	+972-3-9241114
	 	 
	Fax:	+972-3-9249378

 

		II.	Official
                                                                                                     and Mailing Address for Financial
                                                                                                     notices (the Licensee’s
                                                                                                     contact person for royalty
                                                                                                     payments):

 

	Motti
Farbstein
	Name
	 
	CFO
	Title
	 
	Mailing Address:
	 
	Can-Fite BioPharma, Ltd.
	 
	10 Bareket Street
	 
	P.O.Box 7537
	 
	Petach Tikva 49170, Israel

 

	Email Address:	motti@canfite.co.il
	 	 
	Phone:	+972-3-9241114
	 	 
	Fax:	+972-3-9249378

 

Any false
or misleading statements made, presented, or submitted to the Government, including any relevant omissions, under this
Agreement and during the course of negotiation of this Agreement are subject to all applicable civil and criminal
statutes including Federal statutes 31 U.S.C. §§3801-3812 (civil liability) and 18 U.S.C. § 1001 (criminal
liability including fine(s) or imprisonment).

 

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ATTACHMENT
1-ROYALTY PAYMENT OPTIONS

 

The OTT License
Number MUST appear on payments, reports and correspondence.

 

Automated Clearing Honse
(ACH) for payments through U.S. banks only

 

The NIH encourages its
licensees to submit electronic funds transfer payments through the Automated Clearing House (ACH). Submit your ACH payment through
the U.S. Treasury web site located at: https://www.pay.gov. Locate the “NIH Agency Form” through the
Pay.gov “Agency List”.

 

Electronic Funds Wire Transfers

 

The following
account information is provided for wire payments. In order to process payment via Electronic Funds Wire Transfer sender MUST
supply the following information within the transmission:

 

Drawn on a U.S.
bank account via FEDWIRE should be sent directly to the following account:

 

	Beneficiary Account:	Federal Reserve Bank of New
    York or TREAS NYC
	Bank:	Federal Reserve Bank of New York
	ABA#	021030004
	Account Number:	75080031
	Bank Address:	33 Liberty Street, New York, NY 10045
	Payment Details:	License Number (L-XXX-XXXX)
	 	Name of the Licensee

 

Drawn on a foreign bank account
should be sent directly to the following account. Payment must be sent in U.S. Dollars (USD) using the following instructions:

 

	Beneficiary Account:	Federal Reserve Bank of New
    York/ITS or FRBNY/ITS
	Bank:	Citibank N.A. (New York)
	SWIFT Code:	CITIUS33
	Account Number:	36838868
	Bank Address:	388 Greenwich Street, New York, NY 10013
	Payment Details (Line 70):	NIH 75080031
	 	License Number (L-XXX-XXXX)
	 	Name of the Licensee
	Detail of Charges (line 7la):	Charge Our

 

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    2012     
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Checks

 

All checks should
be made payable to “NIH Patent Licensing”

 

Checks
drawn on a U.S. bank account and sent by US Postal Service should be sent directly to the following
address:

 

National Institutes
of Health (NIH)

P.O. Box 979071

St. Louis, MO 63197-9000

 

Checks drawn on a U.S.
bank account and sent by overnight or courier should be sent to the following address:

 

US Bank

Government Lockbox SL-MO-C2GL

1005 Convention Plaza

St. Louis, MO 63101

Phone: 314-418-4087

 

Checks drawn on a foreign
bank account should be sent directly to the following address:

 

National Institutes
of Health (NIH)

Office of Technology
Transfer

Royalties Administration
Unit

6011 Executive Boulevard

Suite 325, MSC 7660

Rockville, Maryland
20852

 

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	Model 09-2006 (updated 8-2012)	Page 6 of 6	L-249-2001/2Exhibit 4. 10 

 

	LICENCE
    AGREEMENT

 

between

 

THE UNIVERSITY OF LEIDEN

 

And

 

CAN-FITE

 

Index to Clauses

 

	 	 	Page
	 	 	 
	1.	Definitions	1.
	 	 	 
	2.	Duration	2.
	 	 	 
	3.	Transfer of Technical information	2.
	 	 	 
	4.	Grant of rights	3.
	 	 	 
	5.	Payment	3.
	 	 	 
	6.	Records and reports	4.
	 	 	 
	7.	Confidentiality	5.
	 	 	 
	8.	Indemnity	6.
	 	 	 
	9.	Performance	6.
	 	 	 
	10. 	Patents	8.
	 	 	 
	11. 	Termination	9.
	 	 	 
	12. 	General	9.
	 	 	 
	13. 	Notices	10.
	 	 	 
	14. 	Governing law	10.
	 	 	 
	Schedule Part 1 - Patent Rights	 
	 	 	 
	[Schedule Part 2 – Commercial Development Plan]	 

 

    	 

    	 

    

 

	 	LICENCE AGREEMENT
	 	Among
	 	 
	 	Leiden University, having its administrative office at
	 	Rapenburg 70, 2333 RA Leiden, The Netherlands
	 	(“Leiden”)
	 	Hereinafter also referred to as “the Licensor”
	 	And
	 	Can-Fite Biopharma, Ltd. of 10 Bareket Street, Petach-
	 	Tikva, Israel
	 	incorporated under the laws of the State of Israel (“Can-Fite”)

 

WHEREAS: 

 

		1.	Leiden is the joint owner along with the National Institutes of Health of the Patent Rights (more
fully defined below) and both are entitled to the benefit of the applications for patents. Pursuant to the terms of a separate
inter-institutional agreement between Leiden and the National Institutes of Health, Leiden hereby enters into this licence agreement
on behalf of both joint owners. [ ]

 

		3.	Can-Fite is a biopharmaceutical company with expertise and capability to further develop the Patent
Rights and wishes to have the exclusive right to do so in return for entering the following obligations.

 

		4.	The Licensor has agreed to grant the following licence to Can-Fite, all as subject to the terms hereinafter specified.

 

NOW THEREFORE IT IS HEREBY AGREED AS FOLLOWS:-

 

		1.	Definitions 

 

In this Agreement the following terms shall have
the following meanings unless the context otherwise requires:

 

	 	“Commencement Date ” 	 	means the date of final signature of this Agreement by all parties;
	 	 	 	 
	 	“Effective Date” 	 	means the priority filing date of the first of the Patent Rights;
	 	 	 	 
	 	“Net Sales Value”	 	means the invoiced sales value of the Products in an arm’s length transaction exclusively for money after deduction of normal trade discounts actually granted and of any credits actually given by Can-Fite for defective goods and excluding or making proper deductions for any costs of packing, insurance, carriage and freight and Value Added Tax or other sales tax and, in the case of export orders, any import duties or similar applicable governmental levies or export insurance costs subject in all cases to the same being separately charged on customer invoices. In  any sale or other disposal of any Products or part thereof otherwise than in any arm’s length transaction exclusively for money, the fair market price (if higher) in the relevant country of disposal shall be substituted for the Net Sales Value; 

 

    	1

    	 

    

 

	 	“Patent Rights”	 	means (i) the patents and applications, short particulars whereof are set out in Part 1 of the Schedule hereto; 
	 	 	 	 
	 	 	 	(ii) all patent applications that may hereafter be filed in the Territory by or on behalf of The Licensor which either are based on or claim priority from any of the foregoing patents and applications; and 
	 	 	 	 
	 	 	 	(iii) all patents which may be granted pursuant to any of the foregoing patent applications; 
	 	 	 	 
	 	“Inventors”	 	means Prof. Adriaan Ijzerman, Zhan-Guo Gao, Aniko Goblyos, Johannes Brussee and Prof. Kenneth Jacobson; 
	 	 	 	 
	 	“Practical Application” 	 	means to manufacture, in the case of a composition or product, under such conditions as to establish that the invention is being utilized; 
	 	 	 	 
	 	“Products”	 	means all therapeutic or diagnostic agents whose manufacture, development or use is covered by the Patent Rights; 
	 	 	 	 
	 	“Schedule”	 	means the Schedule annexed hereto; 
	 	 	 	 
	 	“Technical Information”	 	means all know-how, experience, drawings, designs, circuit diagrams, computer programs and all other technical information relating to the Products and which might reasonably be of commercial interest to either party in the design, manufacture or supply of the Products ; 
	 	 	 	 
	 	“Territory”	 	means the countries of the world where Patent Rights are pending or subsist; 
	 	 	 	 
	 	“Agreement Date”	 	The last of the dates in which this Agreement was signed by Licensor or Can-Fite. 

 

		2.	Duration 

 

		2.1	This Agreement shall commence on the Commencement Date and shall continue in force in each country
of the Territory until the expiry of the last to expire of the Patent Rights in such country unless earlier terminated in accordance
with the later provisions of this Agreement..

 

		3.	Transfer of Technical Information 

 

		3.1	Upon specific request made by Can-Fite to Leiden, at any time during the pendency of this agreement, Leiden will provide all
Technical Information that has not previously been disclosed and that is reasonably necessary or desirable to enable Can-Fite to
exercise its rights under this Agreement or will cause the Inventors to provide such Technical Information. Can-Fite can also approach
the Inventors directly for such Technical Information.

 

    	2

    	 

    

 

		4.	Grant of Rights 

 

		4.1	Subject to Articles 4.4-4.6 below, the Licensor hereby
grants to Can-Fite:

 

		4.1.1	an exclusive licence under the Patent Rights to develop and manufacture Products; and

 

		4.1.2	an exclusive licence to use, sell or otherwise deal in Products manufactured under the licence of Clause 4.1.1 anywhere in
the Territory.

 

		4.2	If requested by Can-Fite, the parties hereto agree to execute a formal licence agreement for the
purposes of registering any patent licence granted pursuant to Clause 4.1 above in the respective official register of one or more
patents or patent applications within the Patent Rights.

 

		4.3	Can-Fite shall be entitled to sub-license to third parties under the rights granted provided that
any such third party will execute an undertaking by which he shall abide by all terms and conditions as stipulated herein . Can-Fite
shall notify the Licensor of any sub-licence granted within thirty days of entering such a sub-licence and shall send a copy of
all such sub-licences entered into, which copy shall be held in confidence. In addition, Can-Fite shall share revenue with the
Licensor from such sub-licensing activity in accordance with Clause 5 below.

 

		4.4	The parties acknowledge that the United States Government shall have the irrevocable, royalty-free, paid-up right to practice
and have practiced the Patent Rights throughout the Territory by or on behalf of the United States Government and on behalf of
any foreign government or international organization pursuant to any existing or future treaty or agreement to which the United
States Government is a signatory. Any license granted by the Licensor under the terms of this Agreement shall be subject to this
right of the United States Government.

 

		4.5	The Parties acknowledge that the United States Government (acting through its agent National Institutes of Health) reserves
the right to require the Licensor, or Can-Fite, to grant sublicenses to responsible applicants, on terms that are reasonable under
the circumstances when necessary to fulfill health or safety needs or when necessary to meet requirements for public use specified
by United States Federal regulations.

 

		4.6	For the avoidance of doubt, the Licensor reserves the right to grant research licenses on reasonable terms and conditions.
The purpose of these research licenses is to encourage basic research, whether conducted at an academic or corporate facility.

 

		4.7	Can-Fite acknowledges that its licence granted hereunder for the Patent Rights is subject to the provisions of 37 C.F.R. Part
401 and the rights retained by the United States Government, including the requirement for substantial manufacture in the United
States as stated in Paragraph 11.1 of 37 C.F.R Part 401.

 

    	3

    	 

    

 

		5.	Payment 

 

		5.1	Within thirty (30) days of the Commencement Date, Can-Fite shall pay to the Licensor a license signing fee (“Signing Fee”)
of twenty five thousand Euros (Euro 25,000).

 

		5.2	In addition, as of the year of 2009, Can-Fite shall pay to the Licensor an annual
                                                            non-refundable minimum royalty of ten thousand Euros (Euro 1 0,000) (“Minimum Annual Royalty”) within sixty (60)
                                                            days of the start of each calendar year.

 

		5.3	Can-Fite agrees to pay to the Licensor a royalty of three percent (3%) on Net Sales Value
                                                            provided that Can-Fite shall be entitled to a credit of one-half percent (0.5%) against the royalty rate for each percent
                                                            point in excess of two percent (2.0%) that Can-Fite must pay to an unaffiliated licensor for the manufacture and sale of
                                                            Products. Said credit, however, shall not reduce the earned royalty due to the Licensor below two percent (2.0%) of Net Sales
                                                            value.

 

Can-Fite agrees to pay the Licensor milestone payments
in relation to the undernoted key milestones being achieved by Can-Fite or a sublicensee as follows:

 

	 	1. Start of Phase I studies	EURO 50,000
	 	2. Start of Phase II studies	EURO 100,000
	 	3. Upon initiation of Phase III studies	EURO 200,000
	 	4. Upon marketing approval	EURO 500,000

 

Each of these milestone payments will be due only
once per patent contained in the Patent Rights.

 

		5.4	Can-Fite agrees to pay the Licensor sublicensing royalties
as follows:

 

(a)     Two percent (2%) of the Net Sales Value
generated by a sublicensee;

 

(b)    Ten percent (10%) of
all non-creditable and non-refundable consideration received for granting a sublicense. Fees paid expressly for research and development
of Products and Processes, such as clinical trial support, shall be excluded.

 

		5.5	In the event that Can-Fite shall transfer to a transferee that aspect of its business involving
this agreement, Can-Fite agrees to pay the Licensor an assignment royalty of ten percent 10%) of all payments received for such
a transfer of this agreement, provided, however, that no such royalty shall be owed to the Licensores in the event that the
foregoing transfer is part of or results from a merger, consolidation or other reorganization of the Can-Fite or from a sale, exchange
or other transfer of all or substantially all of its assets. For the removal of any doubt, for any transaction in which an assignment
royalty as stipulated in this clause 5.5 will be due, no sublicensing royalty will be payable, as set out in Clause 5.4; and vice
versa. Further Can-Fite will ensure that the transferee will be bound by the terms of this agreement, including, but not limited
to, the payment of royalties set out in Clauses 5.1 to 5.4 above as well as that set out in this clause 5.5..

 

		5.7	Payments due under Clauses 5.3 and 5.5 shall be made to Leiden within [30] days of the end of each
calendar year in respect of royalties accruing on Products invoiced in that calendar year failing which interest shall be payable
at the rate of three per centum above the Base Lending Rate.

 

    	4

    	 

    

 

		5.8	All sums due under this Agreement shall be made in full without deduction of taxes, charges and
other duties that may be imposed except in so far as any such deduction may be credited in full by the Licensor against the Licensor’s
own tax liabilities. The parties agree to cooperate in all respects necessary to take advantage of such double taxation agreements
as may be available.

 

		5.9	For the avoidance of doubt, Leiden shall make arrangements to share the revenue received under this Clause 5 with National
Institutes of Health, all in accordance with the terms of a separate interinstitutional agreement.

 

		6.	Records and Reports
                                                                

 

		6.1	Can-Fite agrees to keep true and accurate records and books of account containing all data necessary
for the determination of sums payable under Clause 5 which records and books of account shall upon reasonable notice by the Licensor
be open at all reasonable times during business hours for inspection by the Licensor or their duly authorised agent for the purpose
of verifying the accuracy of Can-Fite’s reports hereunder. The accountant may take copies of the records and books of account but
shall not disclose to the Licensor any information relating to the business or affairs of Can-Fite other than such information
as properly should have been contained in any statement required to be furnished by Can-Fite to the Licensor. The Licensor shall
be solely responsible for the costs of the accountant unless he certifies that any reports are inaccurate in any material respect
in which event Can-Fite shall reimburse the Licensor for all his costs.

 

		6.2	Can-Fite shall submit to Leiden within [30] days of the end of each calendar year a statement setting
forth the quantity of Products made, used or sold, the Net Sales Value of Products and all income associated with sublicensing
activity, for the immediately preceding calendar year.

 

		6.3	The Licensor agree to maintain confidential all commercially sensitive information received with
respect to Can-Fite’s operations pursuant to the foregoing Clauses 6.1 and 6.2, while reserving the right to publicly disclose
all sums due and/or payable under Clause 5.

 

		7.	Confidentiality

 

		7.1	Each party agrees to maintain secret and confidential all Technical Information obtained from the
others pursuant to this Agreement, to respect the other’s proprietary rights therein, to use the same exclusively for the purposes
of this Agreement, and to disclose the same only to those of its employees and sub-licensees pursuant to this Agreement (if any)
to whom and to the extent that such disclosure is reasonably necessary for the purpose of this Agreement.

 

		7.2	The foregoing obligations of Clause 7.1 above shall not apply to Technical Information or other information which:

 

		(1)	prior to receipt thereof from one party was in the possession of the other and at its free disposal;

 

		(2)	is subsequently disclosed to the recipient party without any obligations of confidence by a
third party who has not derived it directly or indirectly from the other parties;

 

    	5

    	 

    

 

		(3)	is or becomes generally available to the public in printed publications in general circulation through no act or default of
the recipient party or its agents or employees.

 

		7.3	Notwithstanding the foregoing provisions, the parties and any sub-licensees pursuant to this Agreement
shall be entitled to disclose Technical Information of the other to actual or potential customers for Products in so far as such
disclosure is reasonably necessary to promote the sale or use of Products.

 

		7.4	Each party shall procure that all its employees and sub-licensees pursuant to this Agreement (if
any) who have access to any information of the other to which the obligations of Clause 7 apply shall be made aware of and subject
to these obligations.

 

		8.	Indemnities 

 

		8.1	The Licensor warrant that at the Commencement Date all Technical Information disclosed or to be
disclosed to Can-Fite hereunder is or will be, to the best of the Licensor’s knowledge and belief, accurate (provided always that
the Licensor will promptly correct any significant errors in the Technical Information subsequently discovered by the Licensor),
but subject the Licensor shall be under no further liability to Can-Fite in respect of the Technical Information or of the manufacture,
use, sale or other disposition of Products.

 

		8.2	Can-Fite shall be exclusively responsible for the technical and commercial development of the Products
and for incorporating any modifications or developments thereto that might be necessary or desirable and for all Products sold
or supplied by Can-Fite and accordingly Can-Fite shall indemnify each of the joint owners in respect of all costs, damages and
expenses incurred as a result of use by Can-Fite, its employees, agents or sub-licensees of the Patent Rights or any claims by
third parties in tort or otherwise against either or both the joint owners or arising in any way out of the use of any of the Technical
Information or Products by Can-Fite.

 

		8.3	Can-Fite hereby undertakes and agrees to be solely responsible at its own cost and expense for
dealing with and for any liability arising from any contractual, tort or other claims or proceedings concerning the Products or
their development, production, marketing, distribution or sale in particular product liability claims or proceedings.

 

		9.	Performance

 

		9.1	During the continuance of this Agreement:

 

		9.1.1	Can-Fite shall use its reasonable commercial efforts to develop the Products. Can-Fite will submit
a commercial development plan within 12 months from the Agreement Date. The commercial development plan will then be incorporated
into this Agreement as Part 2 of the Schedule. It is understood
that it is within the nature of research and development that development route and the expected timelines may change and that
the commercial development plan may have to be modified. Accordingly, Can-Fite may request Licensor from time to time to amend
the commercial development plan, a request which will not be unreasonable denied.

 

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		9.1.2	Can-Fite shall use its best endeavours to implement the commercial development plan submitted under
Art 9 .1.1 above , and to implement Parctical Application of the
Patent Rights failing which the provisions of Art 11.3 shall apply;

 

		9.1.3	Can-Fite shall not act as agent of The Licensor and specifically not give any indication that it
is acting otherwise than as principal and in advertising or selling Products not make any representation or give any warranty on
behalf of The Licensor.

 

		9.1.4	Any sublicenses granted by Can-Fite shall provide
for the termination of the sublicense, or the conversion to a license directly between the sublicensees and Leiden, at the option
of the sublicensee, upon termination of this agreement.

 

		9.1.5	Can-Fite agrees that Products used or sold in the United States shall be manufactured substantially
in the United States, unless a written waiver is obtained in advance from National Insitutes of Health

 

		9.1.6	Prior to the first commercial sale, Can-Fite agrees to provide the Licensor with reasonable quantities
of Products for research use by each of the Licensor and National Institutes of health. In order to safeguard the Patent Rights,
however, each of the joint owners shall consult with Can-Fite before providing to commercial entities research samples of Products.

 

    	7

    	 

    

 

		10.	Patents

 

		10.1	It
                                                            is acknowledged by all parties that Can-Fite has borne all
                                                            costs associated with the prosecution of the Patent Rights since the
                                                            Effective Date. In addition it is now agreed that this responsibility
                                                            shall continue from the Commencement Date such that for the duration
                                                            of this Agreement, Can-Fite shall at its own cost diligently prosecute
                                                            to grant all subsisting patent applications within the Patent Rights
                                                            in at least the Primary Territories, as defined below, so as to secure
                                                            the broadest monopoly reasonably obtainable consistent with avoiding
                                                            serious prejudice to the validity of such granted patents and shall
                                                            maintain all patents within the Patent Rights in force for the full
                                                            terms thereof. Said Primary Territories include the US, UK,
                                                            France, Germany, Italy, Switzerland, Japan, Canada and Australia.

 

		10.2	In the event of any infringement by
                                                            a third party of any of the Patent Rights in the Territory on such
                                                            a scale as to affect prejudicially Can-Fite’s business in the Products
                                                            to a substantial extent, Can-Fite may take all legitimate steps to
                                                            halt such infringement. Can-Fite may request the Licensor or
                                                            any of the Inventors or any other inventor of the Patent
                                                            Rights to lend its names to such proceedings and provide reasonable
                                                            assistance subject to Can-Fite giving them an indemnity in respect
                                                            of all costs, damages and expenses that they may incur including any
                                                            award of costs against them [in so far as the aggregate of all such
                                                            costs and damages may exceed that recoverable under the next following
                                                            provisions]. Where such infringement proceedings are conducted by
                                                            Can-Fite under the name of the Licensor, Can-Fite may apply all royalties
                                                            due under Clauses 5.2 and 5.3 subsequent to the date of notification
                                                            by Can-Fite to the Licensor of the relevant infringement to defray
                                                            any costs directly incurred by Can-Fite (excluding award of costs
                                                            in favour of third parties) provided however that the total liabilities
                                                            or waiver of royalties of the Licensor hereunder shall in no circumstances
                                                            exceed the sum of all royalties due subsequent to that date and up
                                                            to the date of the delivery of the final decision in the relevant
                                                            infringement proceedings and provided further that this provision
                                                            shall only apply subject to Can-Fite exercising all due diligence
                                                            in pursuing the proceedings to a conclusion. Any damages recovered
                                                            shall be dealt with in a manner which shall be fair and reasonable
                                                            as between the Licensor and Can-Fite.

 

		10.3	As at the Commencement Date, to the best of the Licensor’s knowledge and belief the exercise of
the rights granted or to be granted to Can-Fite hereunder will not result in the infringement of valid patents of third parties.
Subject thereto, the Licensor gives no warranty in this respect and do not give Can-Fite any indemnity against costs, damages,
expenses or royalties arising out of proceedings brought against Can-Fite or any customer of Can-Fite by any third party. Should
Can-Fite be sued for infringement of any patent or patents of the third party by reason of its operation of the Process or manufacture,
use or sale of the Products, the Licensor shall, on request, assist Can-Fite in its defence to such action to the extent that in
all the circumstances it is reasonable to do so but shall otherwise be under no obligations in respect thereof. All costs of any
such action shall be borne by Can-Fite to whom shall belong all sums that may be recovered from the third party.

 

		10.4	If at any time during this Agreement Can-Fite directly or indirectly opposes or assists any third
party to oppose the grant of letters patent on any patent application within the Patent Rights or disputes or directly or indirectly
assists any third party to dispute the validity of any patent within the Patent Rights or any of the claims thereof, the Licensor
shall be entitled at any time thereafter to terminate all or any of the licences granted hereunder forthwith by notice thereof
to Can-Fite.

 

    	8

    	 

    

 

		11.	Termination 

 

		11.1	If any party is in breach of any of its obligations and, in the case of a breach capable of remedy,
it shall not have been remedied by the defaulting party within 90 days of written notice specifying the breach and requiring its
remedy, or if Can-Fite becomes apparently insolvent, has a receiver or administrator appointed over the whole or any part of its
assets, enters into any compound with creditors, or has an order made or resolution passed for it to be wound up (otherwise than
in furtherance of a scheme for amalgamation or reconstruction) then the Licensor or, in the case of breach, the party not in breach
of the obligation or condition, may forthwith terminate this Agreement by written notice without prejudice to the accrued rights
of either party.

 

		11.2	On termination of this Agreement for any reason, Can-Fite shall continue to have the right
                                                            for a period of twelve (12) months from the date of termination to complete deliveries on contracts in force at that date and
                                                            to dispose of Products already manufactured subject to payment to the Licensor of royalties thereon in accordance with Clause
                                                            5 above.

 

11.3

 

11.3 .1 During the term of this Agreement, the Licensor
may terminate this Agreement when:

 

		(a)	it is determined by the Licensor in discussion with National Institutes of Health Office of Technology Transfer that:

 

		(i)	Termination is necessary to alleviate health or safety needs which are not reasonably satisfied by Can-Fite;

 

		(ii)	Termination is necessary to meet requirements for public use specified by Federal law or regulations
and these requirements are not reasonably satisfied by Can-Fite; or

 

		(iii)	Termination is necessary because the requirements of 35 U.S.C. §204 have not been satisfied
or waived or because a licensee of the exclusive right to use or sell the Patent Rights in the United States is in breach of its
agreement obtained pursuant to Section 204; and

 

		(b)	Can-Fite has been notified of this determination and has been given at least ninety (90) days to
provide a response to this determination, and the response is deemed to be unsatisfactory by the Licensor, in consultation with
National Institutes of Health.

 

		11.4	A copy of the fully executed inter-institutional agreement between the Licensor and the National Institutes of Health shall
be sent to Can-Fite no later than six months from the Agreement Date, failing which Can-Fite shall be entitled to terminate the
Licence Agreement with immediate effect on giving written notice to the Licensor and thus will transfer all management of the Patent
Rights to the Licensor, for the future expense of the Licensor. Patent costs incurred by Can-Fite prior to termination under this
Article 11.4 shall be promptly reimbursed by the Licensor.

 

		12.	General

 

		12.1	This Agreement shall be binding upon and ensure to the benefit of the parties hereto and their
respective legal successors but shall not otherwise be assignable by Can-Fite without the written consent of the Licensor, which
consent shall not be unreasonably withheld.

 

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		12.3	Each and every provision of this Agreement shall be read (where possible) as entirely independent
and severable from the other provisions. In all cases where a provision of this Agreement is reducible, invalid or unenforceable
in terms of any legislation or other legal authority, such provision shall not affect the validity of the remaining portion of
this Agreement which shall remain in force and effect as if this Agreement had been granted with no such provision and it is hereby
declared the intention of the parties that they would have executed the remaining portion of this Agreement without including therein
any such provisions.

 

		12.4	A failure by a party to exercise or enforce any rights conferred upon it by this Agreement shall
not be deemed to be a waiver of any such rights or operate so as to bar the exercise or enforcement thereof at any subsequent time
or times.

 

		12.7	The text of any press release or other communication to be published by or in the media concerning the subject matter of this
Agreement shall require the approval of each party.

 

		13.	Notices

 

		13.1	Any notice required to be given hereunder by any party shall be in writing and shall be served by sending the same by registered
post to the address of the other party as given herein.

 

		13.2	Any notice to the
Licensor shall be sufficiently served if addressed to:

 

Leiden, marked for the attention of the Director
of Research & Innovation Services, LURIS, Poortgebouw Noord,
Rijnsburgerweg 10, 2333A Leiden , The Netherlands; and

 

		13.3	Any notice to Can-Fite shall be sufficiently served if addressed to Can-Fite Biopharma, Ltd., P.O. Box 7537, Petach-Tikva 49170,
Israel and marked for the attention of Chief Operating Officer.

 

		14.	Governing Law

 

This Agreement and all matters
relating thereto shall be governed by the laws of the Netherlands.

 

	Signed on behalf of the Licensor 	 	 	 
	 	 	 	 	 
	Signed	/s/ H. Wite Best	 	Date	11/02/2009
	 	 	 	 	 
	Name	H. Wite Best	 	 	 
	 	 	 	 	 
	Designation 	Vice Chair Executive Board		 	 

 

    	10

    	 

    

 

	SIGNED on behalf of Can Fite	 	 	 
	 	 	 	 	 
	Signed	/s/ Pnina Fishman	 	Date	30.12.08
	 	 	 	 	 
	Name	Pnina Fishman, Ilan Cohn

	 	 	 
	 	 	 	 	 
	Designation	CEO, Vice Chairman	 	 	 

  

    	11

    	 

    

 

This is the
Schedule referred to in the foregoing Agreement 

 

Part 1          -         Patent
Rights

 

	1.	PCT/US2007/001930, entitled “A3 Adenosine Receptor Allosteric Modulators”
	 	 
	 	
                                                                                               Priority Date 26 January 2006

 

Part 2 Commercial Development Plan

 

To be submitted to Licensor within 12 months of the
Agreement Date.

 

    	12

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