Document:

Exhibit 10.1

 

Execution Version

 

FIRST AMENDMENT AGREEMENT

 

FIRST AMENDMENT AGREEMENT dated as of January 24, 2017 (this “First Amendment”) to the Second Amended and Restated Credit Agreement dated as of June 30, 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time and immediately prior to the First Amendment Effective Date (as defined below)) (the “Credit Agreement” and as amended by this First Amendment, the “Amended Credit Agreement”), among, inter alia, NRG Energy, Inc., a Delaware corporation (the “Borrower”), the Lenders from time to time parties thereto and Citicorp North America, Inc., as administrative agent (in such capacity and together with its successors, the “Administrative Agent”) and as collateral agent (in such capacity and together with its successors, the “Collateral Agent”).

 

A.            Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Amended Credit Agreement (as defined below).

 

B.            The Borrower, the Lenders, the Administrative Agent, the Collateral Agent, the Swingline Lender and each Issuing Bank, among others, are parties to the Credit Agreement.  Credit Suisse Securities (USA) LLC, Barclays Bank PLC and Citigroup Global Markets Inc. are acting as joint book runners and joint lead arrangers in connection with this First Amendment (in such capacities, the “Repricing Arrangers”).

 

C.            The Borrower has requested pursuant to Section 9.08(b) of the Credit Agreement that the Required Lenders consent to (i) reduce the Applicable Margin for the Term Loans on the terms and subject to the conditions set forth in in this First Amendment and in the Credit Agreement and (ii) make certain other changes to the Loan Documents as more fully set forth herein.

 

D.            Each Term Lender under the Credit Agreement (collectively, the “Existing Term Lenders”) that fails to execute and deliver a signature page to this First Amendment by 12:00 p.m. (New York City time), on January 19, 2017 (the “Consent Deadline”) (each, a “Non-Consenting Lender”) shall, in accordance with Section 9.08(c) of the Credit Agreement, assign and delegate (in accordance with Section 9.04 of the Credit Agreement), without recourse, all of its interests, rights and obligations under the Credit Agreement and the related Loan Documents in respect of its existing Term Loans to an assignee that shall assume such obligations in accordance with Sections 9.04 and 9.08(c) of the Credit Agreement, as further set forth in this First Amendment.

 

E.            Each Lender that executes and delivers a signature page to this Amendment on or prior to the First Amendment Effective Date (as defined below) (the “Consenting Lenders”) will be deemed to have irrevocably agreed to the terms of this First Amendment and the Amended Credit Agreement, subject to the conditions to effectiveness set forth herein.

 

F.             By executing and delivering a signature page to this First Amendment, the Administrative Agent and the Required Lenders will be deemed upon the First Amendment Effective Date to have irrevocably agreed to the terms of this First Amendment and the Amended Credit Agreement.

 

G.            The amendments to the Credit Agreement set forth below are subject to the satisfaction of the conditions precedent to effectiveness referred to herein and shall become effective as provided herein.

 

 

Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION 1.  Amendments to Credit Agreement.

 

(i) Section 1.01 of the Credit Agreement is hereby amended or, as the case may be, amended and restated by:

 

(A)  adding thereto the following new defined terms in proper alphabetical order:

 

“First Amendment” shall mean the First Amendment Agreement, dated as of January 24, 2017, among the Borrower, each Subsidiary Guarantor, the Administrative Agent and the Lenders party thereto.

 

“First Amendment Effective Date” shall have the meaning assigned to such term in the First Amendment.

 

(B)  amending and restating the following defined terms therein in their entirety as follows:

 

“Applicable Margin” shall mean, for any day, a rate per annum equal to (a)(i) with respect to ABR Term Loans, 1.25% and (ii) with respect to Eurodollar Term Loans, 2.25% and (b)(i) with respect to ABR Revolving Loans, 1.25% and (ii) with respect to Eurodollar Revolving Loans, 2.25%.

 

(ii)            Section 2.12(d) of the Credit Agreement is hereby amended by replacing the words “the Closing Date” in each instance where such words appear therein with the words “the First Amendment Effective Date”.

 

(iii) As used in the Credit Agreement, the terms “Agreement,” “this Agreement,” “herein,” “hereinafter,” “hereto,” “hereof,” and words of similar import shall, unless the context otherwise requires, mean, from and after the First Amendment Effective Date, the Credit Agreement as amended by this First Amendment.

 

SECTION 2.  Non-Consenting Lenders. The Borrower has given notice to each Non-Consenting Lender that, upon receipt of consents to this First Amendment from the existing Lenders constituting the Required Lenders, such Non-Consenting Lender shall, pursuant to Section 9.08(c) of the Credit Agreement, execute or be deemed to have executed a counterpart of an Assignment and Assumption and shall in accordance therewith sell its existing Terms Loans as specified in the applicable Assignment and Assumption or any other similar document.  Pursuant to the applicable Assignment and Assumption or other similar document, each Non-Consenting Lender has sold and assigned the principal amount of its existing Term Loans to Credit Suisse AG, Cayman Islands Branch, as assignee (in such capacity the “Replacement Lender”) under such document, solely upon the consent and acceptance by the Replacement Lender.  The Replacement Lender has executed and delivered a signature page to this First Amendment on or prior to the First Amendment Effective Date as a Consenting Lender.

 

SECTION 3.  Representations and Warranties.  To induce the other parties hereto to enter into this First Amendment, the Borrower and each Subsidiary Guarantor represents and warrants to each of the Lenders, the Swingline Lender, each Issuing Bank, the Administrative Agent and the Collateral Agent that, as of the First Amendment Effective Date:

 

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(a)  The Borrower and each Subsidiary Guarantor has all requisite power and authority, and the legal right, to enter into this First Amendment and the Amended Credit Agreement, and to carry out the transactions contemplated by, and perform its obligations under, this First Amendment, the Amended Credit Agreement and the other Loan Documents.

 

(b)  Each of this First Amendment and the Amended Credit Agreement (i) has been duly authorized, executed and delivered by the Borrower and, with respect to this First Amendment only, each Subsidiary Guarantor, (ii) constitutes the Borrower’s and, with respect to this First Amendment only, each Subsidiary Guarantor’s  legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or other laws now or hereafter in effect affecting creditors’ rights generally and (including with respect to specific performance) subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law and to the discretion of the court before which any proceeding therefor may be brought, (iii) will not violate (A) any applicable provision of any material law, statute, rule or regulation, or of the certificate or articles of incorporation or other constitutive documents or by-laws of the Borrower or any Subsidiary Guarantor, (B) any order of any Governmental Authority or arbitrator or (C) after giving effect to the transactions contemplated by this First Amendment, any provision of any indenture or any material agreement or other material instrument to which the Borrower or any Subsidiary Guarantor is a party or by which any of them or any of their property is or may be bound, (iv) after giving effect to the transactions contemplated by this First Amendment, will not be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under, or give rise to any right to accelerate or to require the prepayment, repurchase or redemption of any obligation under any such indenture or material agreement or other material instrument and (v) will not result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or hereafter acquired by the Borrower or any other Loan Party (other than Liens created under the Security Documents).

 

(c)  No action, consent or approval of, registration or filing with, notice to, or any other action by, any Governmental Authority is or will be required in connection with this First Amendment or the Amended Credit Agreement, except for (i) the filing of UCC financing statements and filings with the United States Patent and Trademark Office and the United States Copyright Office, (ii) recordation of modifications of the Mortgages, if any, (iii) actions specifically described in Section 3.19 of the Credit Agreement or any of the Security Documents, if any, (iv) any immaterial actions, consents, approvals, registrations or filings or (v) such as have been made or obtained and are in full force and effect.

 

(d)  The representations and warranties set forth in the Amended Credit Agreement and each other Loan Document are true and correct in all material respects on and as of the First Amendment Effective Date, with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties were true and correct in all material respects on and as of such earlier date; provided that, in each case, such materiality qualifier is not applicable to any representations and warranties that already are qualified or modified by materiality (or Material Adverse Effect) in the text thereof.

 

SECTION 4.  Conditions to Effectiveness of this First Amendment.

 

(a)  This First Amendment shall become effective on the date (the “First Amendment Effective Date”) on which:

 

(i) The Administrative Agent shall have received duly executed and delivered counterparts of this First Amendment that, when taken together, bear the signatures of the Borrower, the Required Lenders, all Term Lenders (after giving effect to the replacement of any Non-Consenting Lenders by the Replacement Lender) and all Subsidiary Guarantors;

 

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(ii) Each of (A) the representations and warranties set forth in Section 3 shall be true and correct in all material respects on and as of the First Amendment Effective Date, with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality (or Material Adverse Effect) in the text thereof, and (B) the conditions in Section 4.01 of the Amended Credit Agreement shall have been satisfied or waived in accordance with the terms of the Amended Credit Agreement;

 

(iii) The Administrative Agent shall have received a certificate, dated as of the First Amendment Effective Date, duly executed by a Financial Officer of the Borrower, confirming compliance with the conditions precedent set forth in Section 4(a)(ii)(A) above and Section 4.01(c) of the Amended Credit Agreement;

 

(iv) The Administrative Agent shall have received (1) a certificate as to the good standing of each Loan Party as of a recent date, from the Secretary of State of the state of its organization; (2) a certificate of the Secretary or Assistant Secretary of each Loan Party dated as of the First Amendment Effective Date and certifying (A) that the by-laws or other similar governing documents, as applicable, of such Loan Party have not been amended or changed since the Closing Date other than those changes attached to such certificate, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors or other similar governing body, as applicable, of such Loan Party authorizing the execution, delivery and performance of the First Amendment and that such resolutions have not been modified, rescinded or amended and are in full force and effect, (C) that the certificate or articles of incorporation or other formation documents of such Loan Party have not been amended or changed since the Closing Date other than those changes attached to such certificate and (D) that there has been no change as to the incumbency and specimen signature of each officer executing the First Amendment or any other document delivered in connection herewith on behalf of such Loan Party since the Closing Date other than any such changed incumbency and specimen signatures attached to such certificate; and (3) a certificate of another officer as to the incumbency and specimen signature of the Secretary or Assistant Secretary executing the certificate pursuant to clause (2) above;

 

(v) The Administrative Agent shall have received all interest accrued but unpaid on all existing Loans through the First Amendment Effective Date;

 

(vi) The Administrative Agent shall have received all documentation and other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act, that has been requested by the Administrative Agent at least three Business Days prior to the First Amendment Effective Date; and

 

(vii) Each of the Repricing Arrangers and the Administrative Agent shall have received all fees and other amounts due and payable on or prior to the First Amendment Effective Date, including, to the extent invoiced, reimbursement or other payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder or under any other Loan Document or other agreement with the Borrower relating to the Transactions.

 

4

 

SECTION 5.  Effect of Amended Credit Agreement.

 

(a)  Except as expressly set forth herein or in the Amended Credit Agreement, this First Amendment and the Amended Credit Agreement shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent, the Collateral Agent or the Issuing Banks under the Credit Agreement, the Amended Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or the Amended Credit Agreement or any other provision of the Credit Agreement, the Amended Credit Agreement or of any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle the Borrower, any Subsidiary Guarantor or any other Person to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement, the Amended Credit Agreement or any other Loan Document in similar or different circumstances.

 

(b)  On the First Amendment Effective Date, the Credit Agreement shall be amended as set forth in Section 1(a) above.  The parties hereto acknowledge and agree that (i) this First Amendment, the Amended Credit Agreement, any other Loan Document or other document or instrument executed and delivered in connection herewith do not constitute a novation, or termination of the obligations of the Borrower and the Subsidiary Guarantors under the Credit Agreement as in effect prior to the First Amendment Effective Date (collectively, the “Obligations”) and (ii) such Obligations are in all respects continuing (as amended by this First Amendment) with only the terms thereof being modified to the extent provided in this First Amendment.  Each of the Borrower and the Subsidiary Guarantors hereby consents to the entering into the First Amendment and each of the transactions contemplated hereby, confirms its respective guarantees, pledges, grants of security interests, Liens and other obligations, as applicable, under and subject to the terms of the Security Documents to which it is a party and each of the other Loan Documents to which it is party, and agrees that, notwithstanding the effectiveness of the First Amendment or any of the transactions contemplated hereby, such guarantees, pledges, grants of security interests, Liens and other obligations, and the terms of each of the other Security Documents to which it is a party and each of the other Loan Documents to which it is a party, are not impaired or affected in any manner whatsoever and shall continue to be in full force and effect and shall continue to secure all Guaranteed Obligations, as amended, reaffirmed and modified pursuant to the First Amendment or any of the transactions contemplated thereby.  Upon the satisfaction of the conditions precedent set forth in Section 4 of this First Amendment, the provisions of this First Amendment will become effective and binding upon, and enforceable against, the Borrower and each of the Administrative Agent, the Collateral Agent and the Lenders.

 

(c)  This First Amendment shall constitute a Loan Document for all purposes under the Amended Credit Agreement and a Security Document (as defined in the Collateral Trust Agreement) for all purposes under the Collateral Trust Agreement, and shall be administered and construed pursuant to the terms of the Amended Credit Agreement and the Collateral Trust Agreement.

 

SECTION 6.  Counterparts.  This First Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract, and shall become effective as provided in Section 4.  Delivery of an executed signature page to this First Amendment by facsimile or other electronic transmission (including “pdf”) shall be as effective as delivery of a manually signed counterpart of this First Amendment.

 

SECTION 7.  Applicable Law; Notices; Waiver of Jury Trial; Severability; Jurisdiction; Consent to Service of Process; Waivers.  THIS FIRST AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

 

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Sections 9.07, 9.11 and 9.15 of the Amended Credit Agreement are hereby incorporated by reference herein, mutatis mutandis.

 

SECTION 8.  Headings.  Headings used herein are for convenience of reference only, are not part of this First Amendment and are not to affect the construction of, or to be taken into consideration in interpreting, this First Amendment.

 

[Signature pages follow]

 

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IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed by their respective officers as of the day and year first above written.

 

	
 
    	
NRG ENERGY, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gaëtan C. Frotté
    
	
 
    	
 
    	
Name:
    	
Gaëtan C. Frotté
    
	
 
    	
 
    	
Title:
    	
Senior Vice   President & Treasurer
    
	
 
    	
 
    
	
 
    	
FOR THE ENTITIES LISTED IN 
    SCHEDULE 1:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Krisshna Koomar
    
	
 
    	
 
    	
Name:
    	
Krisshna Koomar
    
	
 
    	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
FOR THE ENTITIES LISTED IN 
    SCHEDULE 2:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Rachel Smith
    
	
 
    	
 
    	
Name:
    	
Rachel Smith
    
	
 
    	
 
    	
Title:
    	
Treasurer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
FOR THE ENTITIES LISTED IN 
    SCHEDULE 3:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gaëtan C. Frotté
    
	
 
    	
 
    	
Name:
    	
Gaëtan C. Frotté
    
	
 
    	
 
    	
Title:
    	
Treasurer
    

 

NRG Energy, Inc. First Amendment Agreement

 

 

ACKNOWLEDGED AND ACCEPTED BY:

 

CITICORP NORTH AMERICA, INC., as
 Administrative Agent and Collateral Agent

 

 

	
By:
    	
/s/ Kirkwood Roland
    	
 
    
	
 
    	
Name:
    	
Kirkwood Roland
    	
 
    
	
 
    	
Title:
    	
Managing   Director & Vice President
    	
 
    

 

NRG Energy, Inc. First Amendment Agreement

 

 

CITIBANK N.A., as an Issuing Bank and
 Swingline Lender

 

 

	
By:
    	
/s/ Kirkwood Roland
    	
 
    
	
 
    	
Name:
    	
Kirkwood Roland
    	
 
    
	
 
    	
Title:
    	
Managing   Director & Vice President
    	
 
    

 

NRG Energy, Inc. First Amendment Agreement

 

 

SIGNATURE PAGE TO

FIRST AMENDMENT

 

REVOLVING LENDERS SIGNATURE PAGE

 

[On file with the Administrative Agent]

 

NRG Energy, Inc. First Amendment Agreement

 

 

SIGNATURE PAGE TO

FIRST AMENDMENT

 

TERM LENDERS SIGNATURE PAGE

 

[On file with the Administrative Agent]

 

NRG Energy, Inc. First Amendment Agreement

 

 

SCHEDULE 1

 

	
 
    	
 
    	
 
    	
ENTITY
    	
 
    	
Jurisdiction(s)
    
	
 
    	
1.
    	
 
    	
Ace Energy, Inc.
    	
 
    	
NY
    
	
 
    	
2.
    	
 
    	
Allied Home Warranty GP LLC
    	
 
    	
DE
    
	
 
    	
3.
    	
 
    	
Allied Warranty LLC
    	
 
    	
TX
    
	
 
    	
4.
    	
 
    	
Arthur Kill Power LLC
    	
 
    	
DE
    
	
 
    	
5.
    	
 
    	
Astoria Gas Turbine Power LLC
    	
 
    	
DE
    
	
 
    	
6.
    	
 
    	
Bayou Cove Peaking Power, LLC
    	
 
    	
DE
    
	
 
    	
7.
    	
 
    	
Bidurenergy, Inc.
    	
 
    	
NY
    
	
 
    	
8.
    	
 
    	
Cabrillo Power I LLC
    	
 
    	
DE
    
	
 
    	
9.
    	
 
    	
Cabrillo Power II LLC
    	
 
    	
DE
    
	
 
    	
10.
    	
 
    	
Carbon Management Solutions LLC
    	
 
    	
DE
    
	
 
    	
11.
    	
 
    	
Cirro Energy Services, Inc.
    	
 
    	
TX
    
	
 
    	
12.
    	
 
    	
Cirro Group, Inc.
    	
 
    	
TX
    
	
 
    	
13.
    	
 
    	
Clean Edge Energy LLC
    	
 
    	
DE
    
	
 
    	
14.
    	
 
    	
Conemaugh Power LLC
    	
 
    	
DE
    
	
 
    	
15.
    	
 
    	
Connecticut Jet Power LLC
    	
 
    	
DE
    
	
 
    	
16.
    	
 
    	
Cottonwood Development LLC
    	
 
    	
DE
    
	
 
    	
17.
    	
 
    	
Cottonwood Energy Company LP
    	
 
    	
DE
    
	
 
    	
18.
    	
 
    	
Cottonwood Generating Partners I LLC
    	
 
    	
DE
    
	
 
    	
19.
    	
 
    	
Cottonwood Generating Partners II LLC
    	
 
    	
DE
    
	
 
    	
20.
    	
 
    	
Cottonwood Generating Partners III LLC
    	
 
    	
DE
    
	
 
    	
21.
    	
 
    	
Cottonwood Technology Partners LP
    	
 
    	
DE
    
	
 
    	
22.
    	
 
    	
Devon Power LLC
    	
 
    	
DE
    
	
 
    	
23.
    	
 
    	
Dunkirk Power LLC
    	
 
    	
DE
    
	
 
    	
24.
    	
 
    	
Eastern Sierra Energy Company LLC
    	
 
    	
CA
    
	
 
    	
25.
    	
 
    	
El Segundo Power, LLC
    	
 
    	
DE
    
	
 
    	
26.
    	
 
    	
El Segundo Power II LLC
    	
 
    	
DE
    
	
 
    	
27.
    	
 
    	
Energy Alternatives Wholesale, LLC
    	
 
    	
DE
    
	
 
    	
28.
    	
 
    	
Energy Choice Solutions LLC
    	
 
    	
TX
    
	
 
    	
29.
    	
 
    	
Energy Plus Holdings LLC
    	
 
    	
DE
    
	
 
    	
30.
    	
 
    	
Energy Plus Natural Gas LLC
    	
 
    	
DE
    
	
 
    	
31.
    	
 
    	
Energy Protection Insurance Company
    	
 
    	
VT
    
	
 
    	
32.
    	
 
    	
Everything Energy LLC
    	
 
    	
DE
    
	
 
    	
33.
    	
 
    	
Forward Home Security, LLC
    	
 
    	
TX
    

 

NRG Energy, Inc. First Amendment Agreement

 

 

	
 
    	
 
    	
 
    	
ENTITY
    	
 
    	
Jurisdiction(s)
    
	
 
    	
34.
    	
 
    	
GCP Funding Company, LLC
    	
 
    	
DE
    
	
 
    	
35.
    	
 
    	
Green Mountain Energy Company
    	
 
    	
DE
    
	
 
    	
36.
    	
 
    	
Gregory Partners, LLC
    	
 
    	
DE
    
	
 
    	
37.
    	
 
    	
Gregory Power Partners LLC
    	
 
    	
DE
    
	
 
    	
38.
    	
 
    	
Huntley Power LLC
    	
 
    	
DE
    
	
 
    	
39.
    	
 
    	
Independence Energy Alliance LLC
    	
 
    	
DE
    
	
 
    	
40.
    	
 
    	
Independence Energy Group LLC
    	
 
    	
DE
    
	
 
    	
41.
    	
 
    	
Independence Energy Natural Gas LLC
    	
 
    	
DE
    
	
 
    	
42.
    	
 
    	
Indian River Operations Inc.
    	
 
    	
DE
    
	
 
    	
43.
    	
 
    	
Indian River Power LLC
    	
 
    	
DE
    
	
 
    	
44.
    	
 
    	
Keystone Power LLC
    	
 
    	
DE
    
	
 
    	
45.
    	
 
    	
Langford Wind Power, LLC
    	
 
    	
TX
    
	
 
    	
46.
    	
 
    	
Louisiana Generating LLC
    	
 
    	
DE
    
	
 
    	
47.
    	
 
    	
Meriden Gas Turbines LLC
    	
 
    	
DE
    
	
 
    	
48.
    	
 
    	
Middletown Power LLC
    	
 
    	
DE
    
	
 
    	
49.
    	
 
    	
Montville Power LLC
    	
 
    	
DE
    
	
 
    	
50.
    	
 
    	
NEO Corporation
    	
 
    	
MN
    
	
 
    	
51.
    	
 
    	
NEO Freehold-Gen LLC
    	
 
    	
DE
    
	
 
    	
52.
    	
 
    	
NEO Power Services Inc.
    	
 
    	
DE
    
	
 
    	
53.
    	
 
    	
New Genco GP LLC
    	
 
    	
DE
    
	
 
    	
54.
    	
 
    	
Norwalk Power LLC
    	
 
    	
DE
    
	
 
    	
55.
    	
 
    	
NRG Advisory Services LLC
    	
 
    	
DE
    
	
 
    	
56.
    	
 
    	
NRG Affiliate Services Inc.
    	
 
    	
DE
    
	
 
    	
57.
    	
 
    	
NRG Artesian Energy LLC
    	
 
    	
DE
    
	
 
    	
58.
    	
 
    	
NRG Arthur Kill Operations Inc.
    	
 
    	
DE
    
	
 
    	
59.
    	
 
    	
NRG Astoria Gas Turbine Operations Inc.
    	
 
    	
DE
    
	
 
    	
60.
    	
 
    	
NRG Bayou Cove LLC
    	
 
    	
DE
    
	
 
    	
61.
    	
 
    	
NRG Business Services LLC
    	
 
    	
DE
    
	
 
    	
62.
    	
 
    	
NRG Business Solutions LLC
    	
 
    	
DE
    
	
 
    	
63.
    	
 
    	
NRG Cabrillo Power Operations Inc.
    	
 
    	
DE
    
	
 
    	
64.
    	
 
    	
NRG California Peaker Operations LLC
    	
 
    	
DE
    
	
 
    	
65.
    	
 
    	
NRG Cedar Bayou Development Company, LLC
    	
 
    	
DE
    
	
 
    	
66.
    	
 
    	
NRG Connected Home LLC
    	
 
    	
DE
    
	
 
    	
67.
    	
 
    	
NRG Connecticut Affiliate Services Inc.
    	
 
    	
DE
    

 

NRG Energy, Inc. First Amendment Agreement

 

 

	
 
    	
 
    	
 
    	
ENTITY
    	
 
    	
Jurisdiction(s)
    
	
 
    	
68.
    	
 
    	
NRG Curtailment Solutions Holdings LLC f/k/a NRG   Curtailment Solutions LLC
    	
 
    	
DE
    
	
 
    	
69.
    	
 
    	
NRG Curtailment Solutions Inc., f/k/a Energy Curtailment   Specialists, Inc.
    	
 
    	
NY
    
	
 
    	
70.
    	
 
    	
NRG Development Company Inc.
    	
 
    	
DE
    
	
 
    	
71.
    	
 
    	
NRG Devon Operations Inc.
    	
 
    	
DE
    
	
 
    	
72.
    	
 
    	
NRG Dispatch Services LLC
    	
 
    	
DE
    
	
 
    	
73.
    	
 
    	
NRG Distributed Generation PR LLC
    	
 
    	
DE
    
	
 
    	
74.
    	
 
    	
NRG Dunkirk Operations Inc.
    	
 
    	
DE
    
	
 
    	
75.
    	
 
    	
NRG ECOKAP Holdings LLC
    	
 
    	
DE
    
	
 
    	
76.
    	
 
    	
NRG El Segundo Operations Inc.
    	
 
    	
DE
    
	
 
    	
77.
    	
 
    	
NRG Energy Efficiency-L LLC
    	
 
    	
DE
    
	
 
    	
78.
    	
 
    	
NRG Energy Labor Services LLC
    	
 
    	
DE
    
	
 
    	
79.
    	
 
    	
NRG Energy Services Group LLC
    	
 
    	
DE
    
	
 
    	
80.
    	
 
    	
NRG Energy Services International Inc.
    	
 
    	
DE
    
	
 
    	
81.
    	
 
    	
NRG Home & Business Solutions LLC
    	
 
    	
DE
    
	
 
    	
82.
    	
 
    	
NRG Home Services LLC (f/k/a Lone Star   A/C & Appliance Repair, LLC)
    	
 
    	
TX
    
	
 
    	
83.
    	
 
    	
NRG Home Solutions LLC
    	
 
    	
DE
    
	
 
    	
84.
    	
 
    	
NRG Home Solutions Product LLC
    	
 
    	
DE
    
	
 
    	
85.
    	
 
    	
NRG Homer City Services LLC
    	
 
    	
DE
    
	
 
    	
86.
    	
 
    	
NRG HQ DG LLC
    	
 
    	
DE
    
	
 
    	
87.
    	
 
    	
NRG Huntley Operations Inc.
    	
 
    	
DE
    
	
 
    	
88.
    	
 
    	
NRG Identity Protect LLC
    	
 
    	
DE
    
	
 
    	
89.
    	
 
    	
NRG Ilion Limited Partnership
    	
 
    	
DE
    
	
 
    	
90.
    	
 
    	
NRG Ilion LP LLC
    	
 
    	
DE
    
	
 
    	
91.
    	
 
    	
NRG International LLC
    	
 
    	
DE
    
	
 
    	
92.
    	
 
    	
NRG Mextrans Inc.
    	
 
    	
DE
    
	
 
    	
93.
    	
 
    	
NRG MidAtlantic Affiliate Services Inc.
    	
 
    	
DE
    
	
 
    	
94.
    	
 
    	
NRG Middletown Operations Inc.
    	
 
    	
DE
    
	
 
    	
95.
    	
 
    	
NRG Montville Operations Inc.
    	
 
    	
DE
    
	
 
    	
96.
    	
 
    	
NRG New Roads Holdings LLC
    	
 
    	
DE
    
	
 
    	
97.
    	
 
    	
NRG North Central Operations Inc.
    	
 
    	
DE
    
	
 
    	
98.
    	
 
    	
NRG Northeast Affiliate Services Inc.
    	
 
    	
DE
    
	
 
    	
99.
    	
 
    	
NRG Norwalk Harbor Operations Inc.
    	
 
    	
DE
    

 

NRG Energy, Inc. First Amendment Agreement

 

 

	
 
    	
 
    	
 
    	
ENTITY
    	
 
    	
Jurisdiction(s)
    
	
 
    	
100.
    	
 
    	
NRG Operating Services, Inc.
    	
 
    	
DE
    
	
 
    	
101.
    	
 
    	
NRG Oswego Harbor Power Operations Inc.
    	
 
    	
DE
    
	
 
    	
102.
    	
 
    	
NRG PacGen Inc.
    	
 
    	
DE
    
	
 
    	
103.
    	
 
    	
NRG Portable Power LLC
    	
 
    	
DE
    
	
 
    	
104.
    	
 
    	
NRG Power Marketing LLC
    	
 
    	
DE
    
	
 
    	
105.
    	
 
    	
NRG Renter’s Protection LLC
    	
 
    	
DE
    
	
 
    	
106.
    	
 
    	
NRG Retail LLC
    	
 
    	
DE
    
	
 
    	
107.
    	
 
    	
NRG Retail Northeast LLC
    	
 
    	
DE
    
	
 
    	
108.
    	
 
    	
NRG Rockford Acquisition LLC
    	
 
    	
DE
    
	
 
    	
109.
    	
 
    	
NRG Saguaro Operations Inc.
    	
 
    	
DE
    
	
 
    	
110.
    	
 
    	
NRG Security LLC
    	
 
    	
DE
    
	
 
    	
111.
    	
 
    	
NRG Services Corporation
    	
 
    	
DE
    
	
 
    	
112.
    	
 
    	
NRG SimplySmart Solutions LLC
    	
 
    	
DE
    
	
 
    	
113.
    	
 
    	
NRG South Central Affiliate Services Inc.
    	
 
    	
DE
    
	
 
    	
114.
    	
 
    	
NRG South Central Generating LLC
    	
 
    	
DE
    
	
 
    	
115.
    	
 
    	
NRG South Central Operations Inc.
    	
 
    	
DE
    
	
 
    	
116.
    	
 
    	
NRG SPV #1 LLC
    	
 
    	
DE
    
	
 
    	
117.
    	
 
    	
NRG Texas C&I Supply LLC
    	
 
    	
DE
    
	
 
    	
118.
    	
 
    	
NRG Texas Gregory LLC
    	
 
    	
DE
    
	
 
    	
119.
    	
 
    	
NRG Texas Holding Inc.
    	
 
    	
DE
    
	
 
    	
120.
    	
 
    	
NRG Texas LLC
    	
 
    	
DE
    
	
 
    	
121.
    	
 
    	
NRG Texas Power LLC
    	
 
    	
DE
    
	
 
    	
122.
    	
 
    	
NRG Warranty Services LLC
    	
 
    	
DE
    
	
 
    	
123.
    	
 
    	
NRG West Coast LLC
    	
 
    	
DE
    
	
 
    	
124.
    	
 
    	
NRG Western Affiliate Services Inc.
    	
 
    	
DE
    
	
 
    	
125.
    	
 
    	
O’Brien Cogeneration, Inc. II
    	
 
    	
DE
    
	
 
    	
126.
    	
 
    	
ONSITE Energy, Inc.
    	
 
    	
OR
    
	
 
    	
127.
    	
 
    	
Oswego Harbor Power LLC
    	
 
    	
DE
    
	
 
    	
128.
    	
 
    	
RE Retail Receivables, LLC
    	
 
    	
DE
    
	
 
    	
129.
    	
 
    	
Reliant Energy Northeast LLC
    	
 
    	
DE
    
	
 
    	
130.
    	
 
    	
Reliant Energy Power Supply, LLC
    	
 
    	
DE
    
	
 
    	
131.
    	
 
    	
Reliant Energy Retail Holdings, LLC
    	
 
    	
DE
    
	
 
    	
132.
    	
 
    	
Reliant Energy Retail Services, LLC
    	
 
    	
DE
    
	
 
    	
133.
    	
 
    	
RERH Holdings, LLC
    	
 
    	
DE
    
	
 
    	
134.
    	
 
    	
Saguaro Power LLC
    	
 
    	
DE
    

 

NRG Energy, Inc. First Amendment Agreement

 

 

	
 
    	
 
    	
 
    	
ENTITY
    	
 
    	
Jurisdiction(s)
    
	
 
    	
135.
    	
 
    	
Somerset Operations Inc.
    	
 
    	
DE
    
	
 
    	
136.
    	
 
    	
Somerset Power LLC
    	
 
    	
DE
    
	
 
    	
137.
    	
 
    	
Texas Genco Financing Corp.
    	
 
    	
DE
    
	
 
    	
138.
    	
 
    	
Texas Genco Operating Services LLC
    	
 
    	
DE
    
	
 
    	
139.
    	
 
    	
Texas Genco Services, LP
    	
 
    	
TX
    
	
 
    	
140.
    	
 
    	
US Retailers LLC
    	
 
    	
DE
    
	
 
    	
141.
    	
 
    	
Vienna Operations Inc.
    	
 
    	
DE
    
	
 
    	
142.
    	
 
    	
Vienna Power LLC
    	
 
    	
DE
    
	
 
    	
143.
    	
 
    	
WCP (Generation) Holdings LLC
    	
 
    	
DE
    
	
 
    	
144.
    	
 
    	
West Coast Power LLC
    	
 
    	
DE
    

 

SCHEDULE 2

 

	
 
    	
 
    	
 
    	
ENTITY
    	
 
    	
Jurisdiction(s)
    
	
 
    	
145.
    	
 
    	
NRG Construction LLC
    	
 
    	
DE
    
	
 
    	
146.
    	
 
    	
NRG Energy Services LLC
    	
 
    	
DE
    
	
 
    	
147.
    	
 
    	
NRG Maintenance Services LLC
    	
 
    	
DE
    
	
 
    	
148.
    	
 
    	
NRG Reliability Solutions LLC
    	
 
    	
DE
    

 

SCHEDULE 3

 

	
 
    	
 
    	
 
    	
ENTITY
    	
 
    	
Jurisdiction(s)
    
	
 
    	
149.
    	
 
    	
NRG Generation Holdings, Inc.
    	
 
    	
DE
    
	
 
    	
150.
    	
 
    	
NRG Greenco LLC
    	
 
    	
DE
    
	
 
    	
151.
    	
 
    	
NRG South Texas LP
    	
 
    	
TX
    
	
 
    	
152.
    	
 
    	
Texas Genco GP, LLC
    	
 
    	
TX
    
	
 
    	
153.
    	
 
    	
Texas Genco Holdings, Inc.
    	
 
    	
TX
    
	
 
    	
154.
    	
 
    	
Texas Genco LP, LLC
    	
 
    	
DE
    

 

NRG Energy, Inc. First Amendment AgreementText marked [****] has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested for the omitted information.

 

Internal University Use Only

 

OTC Agreement No.:      

OTC Case No.(s):      

Document Revision Date:      

 

EXCLUSIVE PATENT LICENSE AGREEMENT

THIS EXCLUSIVE PATENT LICENSE AGREEMENT (this "Agreement") is made by and between Regents of the University of Minnesota, a constitutional corporation under the laws of the state of Minnesota, having a place of business at 200 Oak Street, SE, Suite 280, Minneapolis, Minnesota 55455 (the "University"), and the Licensee identified below. The University and the Licensee agree that:

The Terms and Conditions of Exclusive Patent License attached hereto as Exhibit A (the "Terms and Conditions") are incorporated herein by reference in their entirety. In the event of a conflict between provisions of this Agreement and the Terms and Conditions, the provisions in this Agreement shall govern. Capitalized terms used in this Agreement without definition shall have the meanings given to them in the Terms and Conditions. The section numbers used in the parentheses below correspond to the section numbers in the Terms and Conditions.

1. Licensee (§1.8): Oxis Biotech, Inc., a corporation under the laws of Delaware, having its principal offices at 100 South Ashley Drive, Suite 600 Tampa, FL 33602

2. Field(s) of Use (§1.3): All

3. Territory (§1.16): Any country or territory where unexpired Licensed Patents exist.

4. Effective Date (§2): Date of the last signature of the Agreement.

1

5. Licensed Patents and Technical Information:

5.1 Patents(s) (§1.4): NONE

5.2 Patent Applications (§1.5):

	
Application

No.

	
Country

	
Filing Date

	
Title

	
62/237,835

	
USA

	
October 6, 2015     

	
Therapeutic compounds and its uses

5.3 Technical Information:

None

6. Patent-Related Expenses (§§1.10 & 6.3): The Licensee shall reimburse the University for Patent-Related Expenses incurred before and during the Term as provided in section 6.3 of the attached Terms and Conditions.

	7.	Sublicense Rights (§3.1.2): [Select one of the following]

			Yes 		No

2

Text marked [****] has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested for the omitted information.

 

	8.	Federal Government Rights (§3.2): [Select one of the following]

		Yes	No

9. Performance Milestones (§5.1): The Licensee shall achieve the following milestones:

	
Ø

	
Perform First dosing of first patient in a Phase I clinical trial for the Licensed Product within 24 months from the Effective Date;

	
Ø

	
Perform the first dosing of a patient in a Phase II clinical trial for the Licensed Product within 48 months from the Effective Date.

	
Ø

	
Perform the first dosing of a patient in a Phase III clinical trial within 84 months from the Effective Date;

	
Ø

	
Obtain regulatory approval for commercial sale of the Licensed Product in the Territory within 120 months from the Effective Date.

By March 1 of each year, Licensee will submit a written annual report to University covering the preceding calendar year. The report will include information sufficient to enable University to satisfy reporting requirements of the U.S. Government and for University to ascertain progress by Licensee toward meeting this Agreement's diligence requirement. Each report will describe, where relevant: Licensee's progress toward commercialization of Licensed Product, including work completed, key scientific discoveries, summary of work-in-progress, current schedule of anticipated events or milestones, market plans for introduction of Licensed Product, and significant corporate transactions involving Licensed Product. Licensee will specifically describe how each Licensed Product is related to each Licensed Patent.

10. Commercialization Reports (§5.4): On each anniversary of the Effective Date, the Licensee shall deliver written commercialization reports to the University as provided in section 5.4 of the Terms and Conditions.

11. Payments (§6.1). All amounts are non-refundable, and payable as defined below or as specified in the University's invoice.

11.1 Upfront Payment: [****] payable as follows: [****] is payable within 15 calendar days after the Effective Date. The remaining [****] is payable within 6 months of the Effective Date of the Agreement. For clarification, Licensee's obligation to pay the full amount of [****] survives any termination by Licensee pursuant to Section 8.2 of the Terms and Conditions and would be in addition to the early termination fee set forth in Section 8.2 of the Terms and Conditions

3

 

Text marked [****] has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested for the omitted information.

 

11.2 License Maintenance Fee.

	
Ø

	
[****] payable on the first and second anniversary of the Effective Date

	
Ø

	
[****] payable on the third and fourth anniversary of the Effective Date.

	
Ø

	
[****] payable on the fifth anniversary of the Effective Date an on each anniversary of the Effective Date thereafter.

11.3 Document Fee: None.

11.4 Running Royalties on Net Sales. Licensee shall pay the University a royalty of [****] of Net Sales of Licensed Product, determined and payable as provided in section 6.4 of the Terms and Conditions. For clarification, Licensee intends to sponsor research at the University which may result in additional inventions, for which Licensee will have an opportunity to negotiate a license. If Licensee develops products which are covered by a Licensed Patent or Technical Information under this Agreement and also is covered by the claims in a patent for any inventions developed by the University, the maximum royalty for which Licensee will be obligated to pay under a subsequent license agreement or amendment to this Agreement will not exceed 6%.

11.5 Annual Minimum. The annual minimum amount of Royalties owed by the Licensee under subsection 11.4.1, upon commencement of commercial sales, shall be $250,000 beginning in Year 2022; $2,000,000 beginning in year 2025; and $5,000,000 beginning in year 2027 throughout the remainder of the term.).

11.5 Non-Royalty Sublicense Consideration:

	
Ø

	
Licensee shall pay the University [****] of all Non-Royalty Sublicensee Consideration received by Licensee prior to the initiation of a Phase I clinical trial.

	
Ø

	
Licensee shall pay the University [****] of all Non-Royalty Sublicensee Consideration received by Licensee after the initiation of a Phase I clinical trial but prior to the initiation of a Phase III clinical trial

	
Ø

	
Licensee shall pay the University [****] of all Non-Royalty Sublicensee Consideration received by Licensee after regulatory approval of the first Licensed Product for commercial sale in North America, the European Union, Japan, or Australia.

11.8 Change of Control Fee: [****] payable as provided in section 12.5 of the Terms and Conditions.

11.9 Performance Milestone Payments:

11.9.1 Clinical Development Milestones:

4

Text marked [****] has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested for the omitted information.

 

	
Ø

	
[****] upon dosing of the first human subject in a Phase I clinical trial of a Licensed Product;

	
Ø

	
[****] upon dosing of a first human subject in a Phase II clinical trial of a Licensed Product;

	
Ø

	
[****] upon dosing of a first human subject in a Phase III clinical trial of a Licensed Product;

	
Ø

	
[****] upon filing of an BLA with FDA (or EMEA or an equivalent authority in) in any jurisdiction, for a Licensed Product;

	
Ø

	
[****] following the first commercial sale of a Licensed Product;

	
Ø

	
[****] for the second commercial sale of a Licensed Product.

	
Ø

	
[****] for the first commercial sale of a Licensed Product for any non-human use.

11.9.2 Patent issuance milestone:

	
Ø

	
A one-time [****] payment due upon issuance of a Licensed Patent in any of Australia, European Union, Japan, the U.S. or Canada including a valid claim to a Licensed Product.

11.9.3 Sales Milestones (one time):

	
Ø

	
[****] upon reaching 250 Million dollars in cumulative gross sales of Licensed Products.

	
Ø

	
[****] upon reaching 500 Million dollars in cumulative gross sales of Licensed Products.

11.7 Equity: None

12. Licensee's Address for Notice (§12.13). Notices will be sent to the Licensee at:

     

Attn:      

Anthony J. Cataldo

Chairman & Chief Executive Officer

Oxis Biotech, Inc.

4830 West Kennedy Boulevard, Suite 600

Tampa, Florida 33609

     

Facsimile No.:      

Email: cataldo14@aol.com

5

13. Licensee's Contact Person for Patent Prosecution Consultation (§4.2.1). The University will, as set forth in this Agreement, communicate with the contact person named below with respect to patent prosecution and maintenance: (Upon ten (10) days prior written notice to the University, the Licensee may change the person designated below.)

Lisa A. Haile, J.D., Ph.D.

DLA Piper LLP (US)

4365 Executive Drive, Suite 1100

San Diego, California 92121

858.677.1456 T

858.735.2456 C

858.638.5040 F

lisa.haile@dlapiper.com

IN WITNESS WHEREOF, the parties hereto have caused their duly authorized representatives to execute this Agreement.

	Regents of the University of Minnesota	Oxis Biotech, Inc.

By: /s/ Jay W. Schrankler By: /s/ Anthony J. Cataldo

		Jay W. Schrankler 	Name:	Anthony J. Cataldo

		Executive Director 	Title: 	Chairman & Chief Executive Officer

Office for Technology Commercialization

Date: July 15, 2016 Date: July 18, 2016

6

EXHIBIT A

Terms and Conditions

Exclusive Patent License Agreement

These terms and conditions to the Exclusive Patent License Agreement ("Terms and Conditions") govern the grant of license by Regents of the University of Minnesota ("University") to the Licensee identified in the Exclusive Patent License Agreement (the "EPLA"). These Terms and Conditions are incorporated by reference into the EPLA. All section references in these Terms and Conditions refer to provisions in these Terms and Conditions unless explicitly stated otherwise.

1. Definitions. For purposes of interpreting this Agreement, the following terms have the following meanings:

1.1 "Affiliate" means an entity that controls the Licensee or the sublicensee, as the case may be, is controlled by the Licensee or sublicensee, or along with the Licensee or sublicensee, is under the common control of a Third Party. An entity shall be deemed to have control of the controlled entity if it (i) owns, directly or indirectly, fifty percent (50%) or more of the outstanding voting securities of the controlled entity, or (ii) has the right, power or authority, directly or indirectly, to direct or cause the direction of the policy decisions of the controlled entity, whether by ownership of securities, by representation on the controlled entity's governing body, by contract, or otherwise.

1.2 "Change of Control" means (A) acquisition of ownership -- either directly or indirectly. by any person or group -- of the capital stock of Licensee representing more than 50% of either the aggregate ordinary voting power or the aggregate equity value represented by the issued and outstanding capital stock of the Licensee; and/or (B) the sale of all or substantially all the Licensee's assets and/or business in one transaction or in a series of related transactions.

1.3 "Exclusive" means that, subject to Sections 3.2 and 3.3, University will not grant further licenses under the Licensed Patent or Licensed Patent Applications in the Field of Use in the Territory.

1.3 "Field of Use" means the field(s) of use described in section 2 of the EPLA.

1.4 "Licensed Patent" means the (i) the patent(s) described in section 5.1 and (ii) the patent applications described in Section 5.2 of the EPLA, along with any issued and unexpired patent(s) issued during the Term that arose out of and claim priority to such patent applications, such as for example, continuations, divisionals, continuation-in-part, or foreign applications. "Licensed Patent" also means any reissues or reexaminations of a Licensed Patent that contain one or more valid claims directed to Licensed Technology. Any claim of an unexpired Licensed Patent is presumed to be valid unless it has been held to be invalid by a final judgment of a court of competent jurisdictions from which no appeal can be or is taken.

A - 1

1.6 "Licensed Product(s)" means any product or part of a product in the Field of Use:

(i) the making, using, importing or selling of which, absent this license, infringes, induces infringement, or contributes to infringement of a Licensed Patent; or

(ii) which is made with, uses, was derived from, identified or validated by, incorporates, or was developed in whole or in part using any Technical Information.

1.7 "Licensee" means the entity identified in section 1 of the EPLA.

1.9 "Net Sales" means  all gross derived by Licensee, its Affiliates, or sublicensees, their distributors or designees from the sale, transfer or other disposition of Licensed Product to an end user. Net Sales excludes the following items: (i) all trade, quantity, and cash discounts actually allowed, (ii) all credits and allowances actually granted due to rejections, returns, billing errors, and retroactive price reductions, (iii) applicable duties, and (iv) applicable excise, sale and use taxes.

1.10 "Nonroyalty Sublicensing Consideration" means any consideration received by Licensee from a sublicensee other than (i) royalties on product sales (royalties on product sales by sublicensees will be treated as if Licensee made the sale of such product).

1.10 "Patent-Related Expenses" means costs and expenses (including out-of-pocket attorneys' fees, patent agent fees and governmental filing fees) that the University incurs in prosecuting and maintaining the Licensed Licensed Patents.

1.11 "Performance Milestone" means an act or event specified in section 5.1 and described in section 9 of the EPLA.

1.16 "Territory" means the geographical area described in section 3 of the EPLA.

1.17 "Third Party" means any party other than the University or Licensee.

1.18 "University Indemnitees" means University, its respective regents, officers, employees, students, agents, faculty, representatives, and volunteers.

2. Term. The term of this Agreement commences on the Effective Date as defined in section 4 of the EPLA and, unless terminated earlier as provided in section 8, expires on the date on which both no Licensed Patent is active in the Territory and no Licensed Patent Application is pending in the Territory (the "Term").

A - 2

3. Grant of License.

3.1 The Licensee's Rights.

		3.1.1	Licensed Patent. Subject to the terms and conditions of this Agreement, the University hereby grants to the Licensee an Exclusive license (sub-licensable if Section 7 of the EPLA is marked "Yes") under the Licensed Patent in the Field of Use to make, have made, use, import, offer to sell and sell Licensed Product in the Territory.

		3.1.2	Technical Information (unless "None" is selected in Section 5.3 of the EPLA). Subject to the terms and conditions of this Agreement, the University hereby grants to the Licensee a non-exclusive license to use the Technical Information.

		3.1.3	Specific Exclusion. University does not grant any other rights under this Agreement except as contained in Section 3.1.1 and 3.1.2. Except as may be provided under Section 3.1.2, the University does not agree to furnish to Licensee any technical information. Additionally, the University has not agreed to provide Licensee with any assistance under this Agreement.

		3.2	The University's Retained Rights. The University retains on behalf of itself and all other non-profit research institutions, to practice the Licensed Patent for any non-profit purpose, including research, teaching, and educational purposes. Licensee agrees that, notwithstanding any other provision of this Agreement, it has no right to enforce the Licensed Patent against any such institution using the Licensed Patent for non-profit purposes.

		3.3	Right of U.S. Government. [Applicable if Section 5 of the EPLA is checked "Yes."] This Agreement is subject to Title 35 Sections 200-204 of the United States Code. Among other things, these provisions provide the United States Government with nonexclusive rights in the Licensed Patent. They also impose the obligation that the Licensed Product sold or produced in the United States be "manufactured substantially in the United States." Licensee will ensure all obligations of these provisions are met.

4. Applications and Patents.

4.1 Pre-EPLA Patent Filings. The Licensee acknowledges that it has reviewed each Licensed Patent and each Licensed Patent Application and that it will not dispute the inventorship, validity, or enforceability of any of the claims made in a Licensed Patent or a Licensed Patent Application. The Licensee further represents that as of the Effective Date, it has not and does not manufacture, have manufactured, offer to sell, sell, offer to lease, lease, or import (a) any product or good that infringes (including under the doctrine of equivalents) a claim in any Licensed Patent or Licensed Patent Application, or (b) any product or good that is made using a process or machine that infringes (including under the doctrine of equivalents) a claim in a Licensed Patent or Licensed Patent Application.

A - 3

4.2 Patent Application Filings during the Term of this Agreement.

		4.2.1	The University, in consultation with the Licensee, shall determine in which countries patent application(s) will be filed and prosecuted with respect to the Licensed Technology. The University shall retain counsel of its choice to file and prosecute such patent applications. The University will inform the Licensee of the status of the prosecution of the patent application, including delivering to the Licensee pertinent notices, written and oral communications with governmental officials, and documents, and shall consult with the Licensee on the prosecution of the patent application. The Licensee shall cooperate with the University in the filing and prosecution of all patent applications with respect to the Licensed Technology. In furtherance of the foregoing, the Licensee shall notify the University, in writing, of the individual whom the Licensee has designated to consult and cooperate as provided in this subsection and is identified in section 13 of the EPLA. The Contact Person shall respond to the University's request for consultation and cooperation on a pending matter within five business days or sooner as may be required under the circumstances. If the Contact Person fails to respond in such time period, the University, exercising its own judgment and discretion, may respond to the matter as it deems appropriate. Except as provided in subsection 4.2.2, the Licensee shall reimburse the University for all Patent-Related Expenses as provided in section 6.3 and in section 6 of the EPLA.

		4.2.2	The grant of license in section 3.1 and the definition of Territory in section 1.16 shall not extend to or include any country in which Licensee elects, in writing to the University, not to pay or reimburse the payment of the cost, in whole or in part, to seek or maintain intellectual property protection.

4.2.3 No provision of this Agreement limits, conditions, or otherwise affects the University's right to prosecute a patent application with respect to the Licensed Technology in any country. The University retains the sole and exclusive right to file or otherwise prosecute a patent application with respect to the Licensed Technology. In no event shall the Licensee file a patent application with respect to the Licensed Technology. The Licensee shall cooperate with the University in the filing and prosecution of all patent applications with respect to the Licensed Technology.

4.3 Rights in the Licensed Patents and Licensed Patent Applications. No provision of this Agreement grants the Licensee any rights, titles, or interests (except for the grant of license in subsection 3.1.1) in the Licensed Patents or Licensed Patent Applications, notwithstanding the Licensee's payment of all or any portion of the patent prosecution, maintenance, and related costs.

A - 4

5. Commercialization.

5.1 Commercialization and Performance Milestones. The Licensee shall use its commercially reasonable efforts, consistent with sound and reasonable business practices and judgment, to commercialize the Licensed Technology and to manufacture and offer to sell and sell Licensed Products as soon as practicable and to maximize sales thereof. The Licensee shall perform, or shall cause to happen or be performed, as the case may be, all the performance milestones described in section 9 of the EPLA.

5.2 Covenants Regarding the Manufacture of Licensed Products. The Licensee hereby covenants and agrees that (i) the manufacture, use, sale, or transfer of Licensed Products shall comply with all applicable federal and state laws, including all federal export laws and regulations; and (ii) the Licensed Products shall not be defective in design or manufacture. The Licensee hereby further covenants and agrees that, pursuant to 35 United States Code Section 204, it shall, and it shall cause each sublicensee, to substantially manufacture in the United States of America all products embodying or produced through the use of an invention that is subject to the rights of the federal government of the United States of America.

5.3 Export and Regulatory Compliance. The Licensee understands that the Arms Export Control Act (AECA), including its implementing International Traffic In Arms Regulations (ITAR,) and the Export Administration Act (EAA), including its Export Administration Regulations (EAR), are some (but not all) of the laws and regulations that comprise the U.S. export laws and regulations. Licensee further understands that the U.S. export laws and regulations include (but are not limited to): (i) ITAR and EAR product/service/data-specific requirements; (ii) ITAR and EAR ultimate destination-specific requirements; (iii) ITAR and EAR end user-specific requirements; (iv) Foreign Corrupt Practices Act; and (v) antiboycott laws and regulations. The Licensee shall comply with all then-current applicable export laws and regulations of the U.S. Government (and other applicable U.S. laws and regulations) pertaining to the Licensed Products (including any associated products, items, articles, computer software, media, services, technical data, and other information). The Licensee certifies that it shall not, directly or indirectly, export (including any deemed export), nor re-export (including any deemed re-export) the Licensed Products (including any associated products, items, articles, computer software, media, services, technical data, and other information) in violation of U.S. export laws and regulations or other applicable U.S. laws and regulations. The Licensee shall include an appropriate provision in its agreements with its authorized sublicensees to assure that these parties comply with all then-current applicable U.S. export laws and regulations and other applicable U.S. laws and regulations.

A - 5

5.4 Commercialization Reports. Throughout the Term and during the Post-termination Period, and within thirty (30) days of the date specified in the schedule set forth in section 10 of the EPLA, the Licensee shall deliver to the University written reports of the Licensee's and the sublicensees' efforts and plans to commercialize the Licensed Technology and to manufacture, offer to sell, or sell Licensed Products.

5.5 Use of the University's Name and Trademarks or the Names of University Faculty, Staff, or Students. No provision of this Agreement grants the Licensee or sublicensee any right or license to use the name, logo, or any marks owned by or associated with the University or the names, or identities of any member of the faculty, staff, or student body of the University. The Licensee shall not use and shall not permit a sublicensee to use any such logos, marks, names, or identities without the University's prior written approval.

5.6 Governmental Markings.

		5.6.1	The Licensee shall mark all Licensed Products, where feasible, with patent notice appropriate under Title 35, United States Code.

		5.6.2	The Licensee is responsible for obtaining all necessary governmental approvals for the development, production, distribution, sale, and use of any Licensed Product, at the Licensee's expense, including, without limitation, any safety studies. The Licensee is responsible for including with the Licensed Product any warning labels, packaging and instructions as to the use and the quality control for any Licensed Product.

		5.6.3	The Licensee agrees to register this Agreement with any foreign governmental agency that requires such registration, and the Licensee shall pay all costs and legal fees in connection with such registration. The Licensee shall comply with all foreign laws affecting this Agreement or the sale of Licensed Products.

6. Payments, Reimbursements, Reports, and Records.

6.1 Payments. The Licensee shall pay all amounts due under this Agreement by check (payable to the "Regents of the University of Minnesota" and sent to the address specified in section 12.13), wire transfer, or any other mutually agreed-upon method of payment.

6.2 Interest. All amounts due under this Agreement shall bear interest at 12% per annum on the entire unpaid balance computed from the due date until the amount is paid.

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6.3 Reimbursement of Patent-Related Expenses. The Licensee shall pay invoices for Patent-Related Expenses under this Agreement within thirty (30) days of its receipt of the University's invoice. With respect to each invoice, the University shall use reasonable efforts to specify the date on which the Patent-Related Expense was incurred and the purpose of the expense (including, as applicable, a summary of patent attorney services giving rise to the expense); provided, however, the University is not required to disclose to the Licensee any information that is protected by the University's attorney-client privilege. Patent-Related Expenses incurred as of the Effective Date are set forth in section 6 of the EPLA. The University reserves the right to require that Licensee provide and maintain a reasonable advance deposit with the University or some other form of security to ensure payment of Patent-Related Expenses.

6.4 Royalty Payments/Sales Reports. Within sixty (60) days after the last day of the second and fourth calendar quarters during the Term and the Post-termination Period, the Licensee shall deliver to the University a written sales report in the form acceptable to the University, recounting the number and Net Sales Amount (expressed in U. S. dollars) of all sales, leases, or other dispositions of Licensed Products, whether made by the Licensee or a sublicensee, during such semi-annual period. The Licensee shall deliver such written report to the University even if the Licensee is not required hereunder to pay to the University a payment for sales, leases, or other dispositions of Licensed Products during the semi-annual period. The Licensee shall deliver along with such sales reports its payment for royalties owed on all Net Sales of Licensed Products by the Licensee and the sublicensees during such semi-annual period.

6.5 Records Retention and Audit Rights.

		6.5.1	Throughout the Term and the Post-termination Period and for five (5) years thereafter, the Licensee, at its expense, shall keep and maintain and shall cause each sublicensee and each non-affiliated Third Party that manufactures, sells, leases, or otherwise disposes of Licensed Products on behalf of the Licensee to keep and maintain complete and accurate records of all sales, leases, and other dispositions of Licensed Products during the Term and the Post-termination Period and all other records related to this Agreement.

		6.5.2	In connection with an audit, the Licensee, upon written request, shall deliver to the University and its representatives true, correct and complete copies of all documents and materials (including electronic records) reasonably relevant to the Licensee's and sublicensees' performance of this Agreement, including, without limitation, all sublicenses granted.

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		6.5.3	To determine the Licensee's compliance with the terms of this Agreement, the University, at its expense (except as set forth in this subsection), may inspect and audit the Licensee's records referred to in subsection 6.5.1 at the Licensee's address as set forth in this Agreement or such other location(s) as the parties mutually agree during the Licensee's normal business hours. The Licensee shall cooperate in the audit, including providing at no cost, commodious space in the Licensee's place of business for the auditor. The Licensee shall reimburse the University for all its out-of-pocket expenses to inspect and audit such records if the University, in accordance with the results of such inspection and audit, determines that the Licensee has underpaid amounts owed to the University by at least three percent (3%) or twenty-five thousand dollars ($25,000), whichever is smaller, in a reporting period. The Licensee shall cause each sublicensee and each non-affiliated Third Party that manufactures, sells, leases, or otherwise disposes of Licensed Products on behalf of the Licensee to grant the University a right to inspect and audit the sublicensee's or Third Party's records substantially similar to the rights granted the University in this subsection. In connection with, and before the commencement of, an audit, if the Licensee requests in writing to the University, then prior to conducting such audit, the Licensee, the University and the auditor must enter into an agreement prohibiting the auditor and the University from disclosing the Licensee's nonpublic, proprietary information to any Third Party without the Licensee's prior written consent; provided, however, that consistent with generally accepted auditing standards and the auditor's professional judgment, the auditor may disclose such information to the University and its agents, counsel, or consultants. The Licensee acknowledges that such an agreement is adequate to protect its legitimate interests, and the parties agree that there shall be no additional nondisclosure agreement demanded as a condition to the commencement of an audit and the University's exercising its rights under this subsection.

6.6 Currency and Checks. All computations and payments made under this Agreement shall be in United States dollars. To determine the dollar value of transactions conducted in non-United States dollar currencies, the parties shall use the exchange rate for the currency into dollars as reported in the Wall Street Journal as the New York foreign exchange mid-range rate on the last business day of the month in which the transaction occurred.

7. Infringement.

7.1 If a party learns of substantial, credible evidence that a Third Party is making, using, or selling a product in the Field of Use in the Territory that infringes a Licensed Patent, such party shall promptly notify the other party in writing of the possible infringement and in such notice describe in detail the information suggesting infringement of the Licensed Patent. Prior to commencing any action to enforce a Licensed Patent, the parties shall enter into good faith negotiations on the desirability of bringing suit, the parties to the action, the selection of counsel, and such other matters as the parties may agree to discuss. No provision of this Agreement limits, conditions, or otherwise affects a party's statutory and common-law rights to commence an action to enforce a Licensed Patent. In any such action, the parties agree to cooperate fully with each other and will use reasonable efforts to permit access to relevant personnel, records, papers, information, samples and specimens during regular business hours. Any amounts recovered (less amounts actually paid for reasonable attorney's fees and legal expenses) by Licensee in any such action or settlement that constitute compensation for lost profits or sales will be considered subject to the royalty rate in subsection 11.4.1 of the EPLA. All other amounts recovered (less amounts actually paid for reasonable attorney's fees and legal expenses) by Licensee in such action or settlement shall be considered subject to the rate for Sublicense Revenues in subsection 11.5.2 of the EPLA.

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7.2. If any suit, action or proceeding is brought or commenced against the Licensee alleging the infringement of a patent or other intellectual property right owned by a Third Party by reason of the manufacture, use or sale of Licensed Products, the Licensee shall give the University prompt notice thereof. If the validity of a Licensed Patent is questioned in such suit, action or proceeding, the Licensee shall have no right to make any settlement or compromise which affects the scope, validity, enforceability or otherwise the Licensed Patent without the University's prior written approval.

8. Termination.

8.1 University may terminate this Agreement if Licensee

(A) is delinquent on any report or payment;

(B) is not diligently developing and commercializing Licensed Product;

(C) misses a milestone under Section 11.9 of the EPLA;

(D) is in breach of any provision of this Agreement;

(E) provides any false report; or

(F) fails to enter into any of the following agreements by the dates indicated below; or having so entered in to the following agreements, defaults on any of the terms contained therein, or terminates the agreement(s).

	
Ø

	
Sponsored research agreement within 90 days of the Effective Date of this Agreement with the University to carry out further research on (1) the TriKE platform including the cytokine linker and the best target antigens on cancer targets and (2) building on higher production systems that generate higher concentrations of TriKEs for expanded use beyond the initial bacterial production used for phase I testing.

Termination under this Section 8.1 will take effect 30 days after written notice by University unless Licensee remedies the default in that 30-day period.

8.2 Licensee may terminate this Agreement

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Text marked [****] has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested for the omitted information.

 

(A)  any time prior to the dosing of the first patient in a Phase I clinical trial upon payment of [****] to the University; or

(B) any time after the dosing of the first patient in a Phase I clinical trial upon payment of [****] to the University.

8.2  Surviving Provisions. Surviving any termination or expiration are:

	
(A)

	
Licensee's obligation to pay royalties accrued or accruable;

	
(B)

	
any claim of Licensee or University, accrued or to accrue, because of any breach or default by the other party; and

	
(C)

	
the provisions of Articles 8, 9, and 10 and any other provision that by its nature is intended to survive.

9. Indemnification, and Insurance.

Licensee shall indemnify, hold harmless, and defend all University Indemnitees against any claim of any kind arising out of or related to the exercise of any rights granted Licensee under this Agreement or the breach of this Agreement by Licensee.

9.4 The Licensee's Insurance.

		9.4.1	Throughout the Term, or during such other period as the parties agree in writing, the Licensee shall maintain, and shall cause each sublicensee to maintain, in full force and effect comprehensive general liability ("CGL") insurance, with single claim limits acceptable to the University. Such insurance policy shall include coverage for claims that may be asserted by the University against the Licensee under section 9.2 and for claims by a Third Party against the Licensee or the University arising out of the purchase or use of a Licensed Product. Such insurance policy must (i) name the University as an additional insured if the University so requests in writing and (ii) require the insurer to deliver written notice to the University at the address set forth in section 12.13, at least thirty (30) days before the termination of the policy. Upon receipt of the University's written request, the Licensee shall deliver to the University a copy of the certificate of insurance for such policy.

		9.4.2	The provisions of subsection 9.4.1 do not apply if the University agrees in writing to accept the Licensee's or a sublicensee's, as the case may be, self-insurance plan as adequate insurance.

9.5 Sublicensees - Release. The Licensee shall cause each sublicensee to grant the University a release from liabilities substantially similar to the release granted in favor of the University in section 9.1.

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10. Disclaimer of Warranties.

UNIVERSITY PROVIDES LICENSEE THE RIGHTS GRANTED IN THIS AGREEMENT AS IS AND WITH ALL FAULTS. UNIVERSITY MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. AMONG OTHER THINGS, THE UNIVERSITY EXPRESSLY DISCLAIMS ANY WARRANTIES CONCERNING AND MAKES NO REPRESENTATIONS:

		(i)	that the Licensed Patent Applications will be allowed or granted or that a patent will issue from any Licensed Patent Application;

		(ii)	concerning the validity, enforceability, interpretation of claims or scope of any Licensed Patent; or

		(iii)	that the exercise of the rights or licenses granted to the Licensee under this Agreement will not infringe a Third Party's patent or violate its intellectual property rights;

		(iv)	that the exploitation of Licensed Patent or Technology will be successful

10.3 Sublicensees - Warranties. The Licensee shall cause each sublicensee to give the University warranties and disclaimers and exclusions of warranties substantially similar to the warranty and disclaimers and exclusions of warranties in favor of the University in section 10.1 and subsections 10.2.1 and 10.2.2.

11. Damages.

11.1 No Indirect Liability. University is not liable for any special, consequential, lost profit, expectation, punitive or other indirect damages in connection with any claim arising out of or related to this Agreement,

12. General Terms

12.1 Access to University Information.

12.1.1 Data Practices Act. The parties acknowledge that the University is subject to the terms and provisions of the Minnesota Government Data Practices Act, Minnesota Statutes §13.01 et seq. (the "Act"), and that the Act requires, with certain exceptions, the University to permit the public to inspect and copy any information that the University collects, creates, receives, maintains, or disseminates.

12.1.2 Confidentiality. To the extent permitted by law, including as provided in the Act, the University shall hold in confidence and disclose only to University employees, agents and contractors who need to know the reports described in sections 5.4 and 6.4 and the records inspected in accordance with section 6.5 of the Terms and Conditions. No provision of this Agreement is to be construed to further prohibit, limit, or condition the University's right to use and disclose any information in connection with enforcing this Agreement, in court or elsewhere.

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12.2 Amendment and Waiver. The Agreement may be amended from time to time only by a written instrument signed by the parties. No term or provision of this Agreement may be waived and no breach excused unless such waiver or consent is in writing and signed by the party claimed to have waived or consented. No waiver of a breach is to be deemed a waiver of a different or subsequent breach.

12.3 Applicable Law and Forum Selection. The internal laws of the state of Minnesota, without giving effect to its conflict of laws principles, govern the validity, construction, and enforceability of this Agreement. A suit, claim, or other action to enforce the terms of this Agreement may be brought only in the state courts of Hennepin County, Minnesota. The Licensee hereby submits to the jurisdiction of that court and waives any objections it may have to that court asserting jurisdiction over the Licensee or its assets and property.

12.4 Assignment and Sublicense. Except as permitted under subsection 3.1.2 and section 12.5 of the Terms and Conditions, the Licensee shall not assign or sublicense its interest or delegate its duties under this Agreement. Any assignment, sublicense, or delegation attempted to be made in violation of this section is void. Absent the consent of all the parties, an assignment or delegation will not release the assigning or delegating party from its obligations. The Agreement inures to the benefit of the Licensee and the University and their respective permitted sublicensees and trustees.

12.5 Change of Control. Licensee may assign this Agreement as part of a Change of Control upon prior and complete performance of the following conditions:

(A) Licensee must give University 30 days prior written notice of the assignment, including the new assignee's contact information;

(B) the new assignee must agree in writing to University to be bound by this Agreement; and

(C) University must have received the full Change of Control Fee.

12.6 Collection Costs and Attorneys' Fees. If a party fails to perform an obligation or otherwise breaches one or more of the terms of this Agreement, the other party may recover from the non-performing breaching party all its reasonable costs (including actual attorneys' and investigative fees) to enforce the terms of this Agreement.

12.7 Consent and Approvals. Except as otherwise expressly provided, in order to be effective, all consents or approvals required under this Agreement must be in writing.

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12.8 Construction. The headings preceding and labeling the sections of this Agreement are for the purpose of identification only and are not to be employed or used for the purpose of construction or interpretation of any portion of the EPLA. As used herein and where necessary, the singular includes the plural and vice versa, and masculine, feminine, and neuter expressions are interchangeable.

12.9 Enforceability. If a court of competent jurisdiction adjudges a provision of this Agreement to be unenforceable, invalid, or void, such determination is not to be construed as impairing the enforceability of any of the remaining provisions hereof and such provisions will remain in full force and effect.

12.10 Entire Agreement. The parties intend this Agreement (including all attachments, exhibits, and amendments hereto) to be the final and binding expression of their contract and agreement and the complete and exclusive statement of the terms thereof. The Agreement cancels, supersedes, and revokes all prior negotiations, representations and agreements among the parties, whether oral or written, relating to the subject matter of this Agreement.

12.11 Language and Currency. Unless otherwise expressly provided in this Agreement and in order to be effective, all notices, reports, and other documents and instruments that a party elects or is required to deliver to the other party must be in English, and all notices, reports, and other documents and instruments detailing revenues and earned under this Agreement or expenses chargeable to a party must be United States dollar denominated.

12.12 No Third-Party Beneficiaries. No provision of this Agreement, express or implied, is intended to confer upon any person other than the parties to this Agreement any rights, remedies, obligations, or liabilities hereunder. No sublicensee may enforce or seek damages under this Agreement.

12.13 Notices. In order to be effective, all notices, requests, and other communications that a party is required or elects to deliver must be in writing and must be delivered personally, or by facsimile or electronic mail (provided such delivery is confirmed), or by a recognized overnight courier service or by United States mail, first-class, certified or registered, postage prepaid, return receipt requested, to the other party at its address set forth below or to such other address as such party may designate by notice given under this section:

If to the University: University of Minnesota

Office for Technology Commercialization

200 Oak Street, SE

Suite 280

Minneapolis, MN 55455

Phone: 612.624.0550

Fax: 612.624.6554

E-mail: otcagree@umn.edu

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For notices sent University of Minnesota

under section 8, Office of the General Counsel

with a copy to: Attn: Transactional Law Services

360 McNamara Alumni Center

200 Oak Street S.E.

Minneapolis, MN 55455-2006

Facsimile No.: 612.626.9624

E-mail: contracts@mail.ogc.umn.edu

If to the Licensee: As indicated in section 12 of the EPLA.

12.14 Relationship of Parties. In entering into, and performing their duties under this Agreement, the parties are acting as independent contractors and independent employers. No provision of this Agreement creates or is to be construed as creating a partnership, joint venture, or agency relationship between the parties. No party has the authority to act for or bind the other party in any respect.

12.15 Security Interest. In no event may the Licensee grant, or permit any person to assert or perfect, a security interest in the Licensee's rights under this Agreement.

12.16 Survival. Immediately upon the termination or expiration of this Agreement, except for certain rights granted for the Post-termination Period, all the Licensee's rights under this Agreement terminate; provided, however, the Licensee's obligations that have accrued before the effective date of termination or expiration (e.g., the obligation to report and make payments on sales, leases, or dispositions of Licensed Products and to reimburse the University for costs) and the obligations specified in section 6.1 survive. The obligations and rights set forth in sections 6.4 and 8.3 and sections 9, 10, and 11 also survive the termination or expiration of this Agreement.

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