Document:

Guaranty

 Exhibit 10.10 
 GUARANTY 

					
	New York, New York	 		 	November 17, 2010

 FOR VALUE RECEIVED, the undersigned “Guarantor” unconditionally guaranties to the Creditor Parties, their successors, endorsees and assigns, the prompt payment when due (whether by
acceleration or otherwise) of all obligations of Accentia Biopharmaceuticals, Inc., a Florida corporation (the “Company”) to the Creditor Parties and of all instruments of any nature evidencing or relating to the obligations of the
Company and any other such obligations and liabilities upon which the Company or one or more parties and the Company is or may become liable to the Creditor Parties, whether incurred by the Company as maker, endorser, drawer, acceptor, guarantor,
accommodation party or otherwise, and whether due or to become due, secured or unsecured, absolute or contingent, joint or several, and however or whenever acquired by the Creditor Parties, arising under, out of, or in connection with (i) that
certain Term Loan and Security Agreement dated as of November 17, 2010 (as amended, restated, modified and/or supplemented from time to time, the “Biovest Security Agreement”) by and between Biovest International, Inc., the
Lenders and LV Administrative Services, Inc., as Administrative and Collateral Agent for the Lenders (“LV” and the Lenders, each a “Creditor Party” and collectively, the “Creditor Parties”),
(ii) that certain Term Loan and Security Agreement dated as of November 17, 2010 (as amended, restated, modified and/or supplemented from time to time, the “Accentia Security Agreement” and together with the Biovest
Security Agreement, the “Security Agreement”) by and between the Company and the Creditor Parties and (iii) each Ancillary Agreement referred to in the Security Agreement (the Security Agreement and each Ancillary Agreement, as
each may be amended, modified, restated or supplemented from time to time, are collectively referred to herein as the “Documents”), or any documents, instruments or agreements relating to or executed in connection with the Documents
or any documents, instruments or agreements referred to therein or otherwise, or any other indebtedness, obligations or liabilities of the Company to the Creditor Parties, whether now existing or hereafter arising, direct or indirect, liquidated or
unliquidated, absolute or contingent, due or not due and whether under, pursuant to or evidenced by a note, agreement, guaranty, instrument or otherwise (all of which are herein collectively referred to as the “Guarantor
Obligations”), and irrespective of the genuineness, validity, regularity or enforceability of such Guarantor Obligations, or of any instrument evidencing any of the Guarantor Obligations or of any collateral therefor or of the existence or
extent of such collateral, and irrespective of the allowability, allowance or disallowance of any or all of the Guarantor Obligations in any case commenced by or against the Company under Title 11, United States Code, including, without limitation,
obligations or indebtedness of the Company for post-petition interest, fees, costs and charges that would have accrued or been added to the Guarantor Obligations but for the commencement of such case. Capitalized terms not otherwise defined herein
shall have the meaning assigned such terms in the Security Agreement. In furtherance of the foregoing, the undersigned hereby agrees as follows: 
 1. No Impairment. The Creditor Parties may at any time and from time to time, either before or after the maturity thereof, without notice to or further consent of the undersigned, extend the time
of payment of, exchange or surrender any collateral for, renew or extend any of the Guarantor Obligations or increase or decrease the interest rate thereon, or enter into any other agreement with the Company or with any other party to or person
liable on any of 

 
the Guarantor Obligations, or interested therein, for the extension, renewal, payment, compromise, discharge or release thereof, in whole or in part, or for any modification of the terms thereof
or of any agreement between any Creditor Party and the Company or any such other party or person, or make any election of rights the Creditor Parties may deem desirable under the United States Bankruptcy Code, as amended, or any other federal or
state bankruptcy, reorganization, moratorium or insolvency law relating to or affecting the enforcement of creditors’ rights generally (any of the foregoing, an “Insolvency Law”) without in any way impairing or affecting this
Guaranty. This Guaranty shall be effective regardless of the subsequent incorporation, merger or consolidation of the Company, or any change in the composition, nature, personnel or location of the Company and shall extend to any successor entity to
the Company, including a debtor in possession or the like under any Insolvency Law. 
 2. Guaranty
Absolute. Subject to Section 5(c) hereof, the undersigned guarantees that the Guarantor Obligations will be paid strictly in accordance with the terms of the Documents and/or any other document, instrument or agreement creating or
evidencing the Guarantor Obligations, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Company with respect thereto. Guarantor hereby knowingly accepts the
full range of risk encompassed within a contract of “continuing guaranty” which risk includes the possibility that the Company will contract additional indebtedness, obligations and liabilities for which Guarantor may be liable hereunder
after the Company’s financial condition or ability to pay its lawful debts when they fall due has deteriorated, whether or not the Company has properly authorized incurring such additional indebtedness, obligations and liabilities. The
undersigned acknowledges that (i) no oral representations, including any representations to extend credit or provide other financial accommodations to the Company, have been made by any Creditor Party to induce the undersigned to enter into
this Guaranty and (ii) any extension of credit to the Company shall be governed solely by the provisions of the Documents. The liability of the undersigned under this Guaranty shall be absolute and unconditional, in accordance with its terms,
and shall remain in full force and effect without regard to, and shall not be released, suspended, discharged, terminated or otherwise affected by, any circumstance or occurrence whatsoever, including, without limitation: (a) any waiver,
indulgence, renewal, extension, amendment or modification of or addition, consent or supplement to or deletion from or any other action or inaction under or in respect of the Documents or any other instruments or agreements relating to the Guarantor
Obligations or any assignment or transfer of any thereof, (b) any lack of validity or enforceability of any Document or other documents, instruments or agreements relating to the Guarantor Obligations or any assignment or transfer of any
thereof, (c) any furnishing of any additional security to the Creditor Parties or their assignees or any acceptance thereof or any release of any security by the Creditor Parties or their assignees, (d) any limitation on any party’s
liability or obligation under the Documents or any other documents, instruments or agreements relating to the Guarantor Obligations or any assignment or transfer of any thereof or any invalidity or unenforceability, in whole or in part, of any such
document, instrument or agreement or any term thereof, (e) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other like proceeding relating to the Company, or any action taken with respect to this
Guaranty by any trustee or receiver, or by any court, in any such proceeding, whether or not the undersigned shall have notice or knowledge of any of the foregoing, (f) any exchange, release or nonperfection of any collateral, or any release,
or amendment or waiver of or consent to departure from any guaranty or security, for all or any of the Guarantor Obligations or (g) any 

  
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other circumstance which might otherwise constitute a defense available to, or a discharge of, the undersigned. Any amounts due from the undersigned to the Creditor Parties shall bear interest
until such amounts are paid in full at the highest rate then applicable to the Guarantor Obligations. Guarantor Obligations include post-petition interest whether or not allowed or allowable. 

3. Waivers. 

(a) This Guaranty is a guaranty of payment and not of collection. The Creditor Parties shall be under no
obligation to institute suit, exercise rights or remedies or take any other action against the Company or any other person or entity liable with respect to any of the Guarantor Obligations or resort to any collateral security held by it to secure
any of the Guarantor Obligations as a condition precedent to the undersigned being obligated to perform as agreed herein and the Guarantor hereby waives any and all rights which it may have by statute or otherwise which would require the Creditor
Parties to do any of the foregoing. The Guarantor further consents and agrees that the Creditor Parties shall be under no obligation to marshal any assets in favor of Guarantor, or against or in payment of any or all of the Guarantor Obligations.
The undersigned hereby waives all suretyship defenses and any rights to interpose any defense, counterclaim or offset of any nature and description which the undersigned may have or which may exist between and among any Creditor Party, the Company
and/or the undersigned with respect to the undersigned’s obligations under this Guaranty, or which the Company may assert on the underlying debt, including but not limited to failure of consideration, breach of warranty, fraud, payment (other
than cash payment in full of the Guarantor Obligations), statute of frauds, bankruptcy, infancy, statute of limitations, accord and satisfaction, and usury. 

(b) The undersigned further waives (i) notice of the acceptance of this Guaranty, of the making of
any such loans or extensions of credit, and of all notices and demands of any kind to which the undersigned may be entitled, including, without limitation, notice of adverse change in the Company’s financial condition or of any other fact which
might materially increase the risk of the undersigned and (ii) presentment to or demand of payment from anyone whomsoever liable upon any of the Guarantor Obligations, protest, notices of presentment, non-payment or protest and notice of any
sale of collateral security or any default of any sort. 
 (c) Notwithstanding any payment or
payments made by the undersigned hereunder, the undersigned shall not be entitled to be subrogated to any of the rights of such Creditor Party against the Company or against any collateral or guarantee or right of offset held by such Creditor Party
for the payment of the Guarantor Obligations, nor shall the undersigned seek or be entitled to seek any contribution or reimbursement from the Company in respect of payments made by the undersigned hereunder, until all amounts owing to the Creditor
Parties by the Company on account of the Guarantor Obligations are indefeasibly paid in full and the Lenders’ obligation to make loans pursuant to the Documents has been irrevocably terminated. If, notwithstanding the foregoing, any amount
shall be paid to the undersigned on account of such subrogation rights at any time when all of the Guarantor Obligations shall not have been paid in full and the Lenders’ 

  
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obligation to make loans pursuant to the Documents shall not have been terminated, such amount shall be held by the undersigned in trust for the Creditor Parties, segregated from other funds of
the undersigned, and shall forthwith upon, and in any event within two (2) Business Days of, receipt by the undersigned, be turned over to LV in the exact form received by the undersigned (duly endorsed by the undersigned to LV, if required),
to be applied against the Guarantor Obligations, whether matured or unmatured, in such order as LV may determine, subject to the provisions of the Documents. Any and all present and future debts, obligations and liabilities of the Company to the
undersigned are hereby waived and postponed in favor of, and subordinated to the full payment and performance of, all present and future debts and Obligations of the Company to the Creditor Parties. 

4. Security. All sums at any time to the credit of the undersigned and any property of the undersigned in any
Creditor Party’s possession or in the possession of any bank, financial institution or other entity that directly or indirectly, through one or more intermediaries, controls or is controlled by, or is under common control with, any Creditor
Party (each such entity, an “Affiliate”) shall be deemed held by the Creditor Party or such Affiliate, as the case may be, as security for any and all of the undersigned’s obligations and liabilities to the Creditor Parties and
to any Affiliate of a Creditor Party, no matter how or when arising and whether under this or any other instrument, agreement or otherwise. 
 5. Representations and Warranties. The undersigned hereby represents and warrants (all of which representations and warranties shall survive until all Guarantor Obligations are indefeasibly
satisfied in full and the Documents have been irrevocably terminated) that: 
 (a) Corporate
Status. It is a corporation, partnership or limited liability company, as the case may be, duly formed, validly existing and in good standing under the laws of its jurisdiction of formation indicated on the signature page hereof and has full
power, authority and legal right to own its property and assets and to transact the business in which it is engaged. 
 (b) Authority and Execution. It has full power, authority and legal right to execute and deliver, and to perform its obligations under, this Guaranty and has taken all necessary corporate,
partnership or limited liability company, as the case may be, action to authorize the execution, delivery and performance of this Guaranty. 
 (c) Legal, Valid and Binding Character. This Guaranty constitutes its legal, valid and binding obligation enforceable in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting the enforcement of creditor’s rights and general principles of equity that restrict the availability of equitable or legal remedies.

 (d) Violations. The execution, delivery and performance of this Guaranty will not
violate any requirement of law applicable to it or any contract, agreement or instrument to which it is a party or by which it or any of its property is bound or result in the creation or imposition of any mortgage, lien or other encumbrance other
than in favor of LV, for the ratable benefit of the Creditor Parties, on any of its property or assets 

  
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pursuant to the provisions of any of the foregoing, which, in any of the foregoing cases, could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect.

 (e) Consents or Approvals. No consent of any other person or entity (including, without
limitation, any creditor of the undersigned) and no consent, license, permit, approval or authorization of, exemption by, notice or report to, or registration, filing or declaration with, any governmental authority is required in connection with the
execution, delivery, performance, validity or enforceability of this Guaranty by it, except to the extent that the failure to obtain any of the foregoing could not reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect. 
 (f) Litigation. No litigation, arbitration, investigation or
administrative proceeding of or before any court, arbitrator or governmental authority, bureau or agency is currently pending or, to the best of its knowledge, threatened (i) with respect to this Guaranty or any of the transactions contemplated
by this Guaranty or (ii) against or affecting it, or any of its property or assets, which, in each of the foregoing cases, if adversely determined, could reasonably be expected to have a Material Adverse Effect. 

(g) Financial Benefit. It has derived or expects to derive a financial or other advantage from each
and every loan made under the Documents or other Obligation incurred by the Company to the Creditor Parties. 

6. Acceleration. If an Event of Default shall occur and be continuing under the Security Agreement or the
undersigned should at any time become insolvent, or make a general assignment, or if a proceeding in or under any Insolvency Law shall be filed or commenced by, or in respect of, the undersigned, any and all Guarantor Obligations shall for purposes
hereof, at the Creditor Parties’ option, be deemed due and payable without notice notwithstanding that any such Obligation is not then due and payable by the Company. 

7. Payments from Guarantors. The Creditor Parties, in their sole and absolute discretion, with or without notice
to the undersigned, may apply on account of the Guarantor Obligations any payment from the undersigned or any other guarantors, or amounts realized from any security for the Guarantor Obligations, or may deposit any and all such amounts realized in
a non-interest bearing cash collateral deposit account to be maintained as security for the Guarantor Obligations. 
 8. Costs. The undersigned shall pay, on demand, all costs, fees and expenses (including expenses for legal services of every kind) relating or incidental to the enforcement or protection of the
rights of the Creditor Parties hereunder or under any of the Guarantor Obligations. 
 9. No Termination.
This is a continuing irrevocable guaranty and shall remain in full force and effect and be binding upon the undersigned, and each of the undersigned’s successors and assigns, until all of the Guarantor Obligations have been indefeasibly paid in
full. If any of the present or future Guarantor Obligations are guarantied by persons, partnerships, corporations or other entities in addition to the undersigned, the death, release or discharge in

  
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whole or in part or the bankruptcy, merger, consolidation, incorporation, liquidation or dissolution of one or more of them shall not discharge or affect the liabilities of the undersigned under
this Guaranty. 
 10. Recapture. Anything in this Guaranty to the contrary notwithstanding, if any
Creditor Party receives any payment or payments on account of the liabilities guaranteed hereby, which payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be
repaid to a trustee, receiver, or any other party under any Insolvency Law, common law or equitable doctrine, then to the extent of any sum not finally retained by the Creditor Parties, the undersigned’s obligations to the Creditor Parties
shall be reinstated and this Guaranty shall remain in full force and effect (or be reinstated) until payment shall have been made to the Creditor Parties, which payment shall be due on demand. 

11. Books and Records. Absent bad faith or manifest error, the books and records of LV showing the account between
the Creditor Parties and the Company shall be admissible in evidence in any action or proceeding, shall be binding upon the undersigned for the purpose of establishing the items therein set forth and shall constitute prima facie proof thereof.

 12. No Waiver. No failure on the part of any Creditor Party to exercise, and no delay in exercising,
any right, remedy or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise by any Creditor Party of any right, remedy or power hereunder preclude any other or future exercise of any other legal right, remedy or
power. Each and every right, remedy and power hereby granted to the Creditor Parties or allowed it by law or other agreement shall be cumulative and not exclusive of any other, and may be exercised by the Creditor Parties at any time and from time
to time. 
 13. GOVERNING LAW; JURISDICTION. THIS GUARANTY CANNOT BE CHANGED OR TERMINATED ORALLY, AND
SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. THE UNDERSIGNED HEREBY CONSENTS AND
AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF NEW YORK SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THE UNDERSIGNED, ON THE ONE HAND, AND ANY CREDITOR PARTY, ON THE
OTHER HAND, PERTAINING TO THIS GUARANTY OR ANY OF THE DOCUMENTS OR TO ANY MATTER ARISING OUT OF OR RELATED TO THIS GUARANTY OR ANY OF THE DOCUMENTS; PROVIDED, THAT THE UNDERSIGNED ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE
HEARD BY A COURT LOCATED OUTSIDE OF THE COUNTY OF NEW YORK, STATE OF NEW YORK; AND FURTHER PROVIDED, THAT NOTHING IN THIS GUARANTY SHALL BE DEEMED OR OPERATE TO PRECLUDE THE CREDITOR PARTIES FROM BRINGING SUIT OR TAKING OTHER LEGAL
ACTION IN ANY OTHER JURISDICTION TO COLLECT THE GUARANTOR OBLIGATIONS, TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE GUARANTOR OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF ANY

  
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CREDITOR PARTY. THE UNDERSIGNED EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND HEREBY WAIVES ANY OBJECTION WHICH IT MAY HAVE
BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS. THE UNDERSIGNED HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH
SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO THE UNDERSIGNED IN ACCORDANCE WITH SECTION 18 AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF THE UNDERSIGNED’S ACTUAL RECEIPT
THEREOF OR THREE (3) DAYS AFTER DEPOSIT IN THE U.S. MAIL, PROPER POSTAGE PREPAID. 
 14. WAIVER OF JURY
TRIAL. THE UNDERSIGNED DESIRES THAT ITS DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE UNDERSIGNED WAIVES ALL RIGHTS TO
TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE BETWEEN ANY CREDITOR PARTY AND/OR THE UNDERSIGNED ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THE
RELATIONSHIP ESTABLISHED BETWEEN THEM IN CONNECTION WITH THIS GUARANTY, ANY DOCUMENT OR THE TRANSACTIONS RELATED HERETO OR THERETO. 
 15. Understanding With Respect to Waivers and Consents. Guarantor warrants and agrees that each of the waivers and consents set forth in this Guaranty is made voluntarily and unconditionally after
consultation with outside legal counsel and with full knowledge of its significance and consequences, with the understanding that events giving rise to any defense or right waived may diminish, destroy or otherwise adversely affect rights which
Guarantor otherwise may have against the Company, any Creditor Party or any other person or entity or against any collateral. If, notwithstanding the intent of the parties that the terms of this Guaranty shall control in any and all circumstances,
any such waivers or consents are determined to be unenforceable under applicable law, such waivers and consents shall be effective to the maximum extent permitted by law. 

16. Severability. To the extent permitted by applicable law, any provision of this Guaranty which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 17.
Amendments, Waivers. No amendment or waiver of any provision of this Guaranty nor consent to any departure by the undersigned therefrom shall in any event be effective unless the same shall be in writing executed by the undersigned directly
affected by such amendment and/or waiver and LV. 

  
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 18. Notice. All notices, requests and demands to or upon the
undersigned, shall be in writing and shall be deemed to have been duly given or made (a) when delivered, if by hand, (b) three (3) days after being sent, postage prepaid, if by registered or certified mail, (c) when confirmed
electronically, if by facsimile, or (d) when delivered, if by a recognized overnight delivery service, in each event to the numbers and/or address set forth beneath the signature of the undersigned. 

19. Successors. Each Creditor Party may, from time to time, without notice to the undersigned, sell, assign,
transfer or otherwise dispose of all or any part of the Guarantor Obligations and/or rights under this Guaranty. Without limiting the generality of the foregoing, each Creditor Party may assign to, or grant participations to, one or more banks,
financial institutions or other entities all or any part of any of the Guarantor Obligations. In each such event, the Creditor Parties, their Affiliates and each and every immediate and successive purchaser, assignee, transferee or holder of all or
any part of the Guarantor Obligations shall have the right to enforce this Guaranty, by legal action or otherwise, for its own benefit as fully as if such purchaser, assignee, transferee or holder were herein by name specifically given such right.
The Creditor Parties shall have an unimpaired right to enforce this Guaranty for their benefit with respect to that portion of the Guarantor Obligations which the Creditor Parties have not disposed of, sold, assigned, or otherwise transferred.

 20. Joinder. It is understood and agreed that any person or entity that desires to become a Guarantor
hereunder, or is required to execute a counterpart of this Guaranty after the date hereof pursuant to the requirements of any Document, shall become a Guarantor hereunder by (x) executing a joinder agreement in form and substance satisfactory
to LV, (y) delivering supplements to such exhibits and annexes to such Documents as LV shall reasonably request and/or as may be required by such joinder agreement and (z) taking all actions as specified in this Guaranty as would have been
taken by such Guarantor had it been an original party to this Guaranty, in each case with all documents required above to be delivered to LV and with all documents and actions required above to be taken to the reasonable satisfaction of LV.

 21. Release. Nothing except indefeasible payment in full of the Guarantor Obligations shall release
the undersigned from liability under this Guaranty. 
 22. Remedies Not Exclusive. The remedies conferred
upon the Creditor Parties in this Guaranty are intended to be in addition to, and not in limitation of, any other remedy or remedies available to the Creditor Parties. 

23. Limitation of Guarantor Obligations under this Guaranty. Each of Guarantor and each Creditor Party (by its
acceptance of the benefits of this Guaranty) hereby confirms that it is its intention that this Guaranty not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Code, the Uniform Fraudulent Conveyance Act or any similar
Federal or state law. To effectuate the foregoing intention, each of Guarantor and each Creditor Party (by its acceptance of the benefits of this Guaranty) hereby irrevocably agrees that the Guarantor Obligations guaranteed by Guarantor shall be
limited to such amount as will, after giving effect to such maximum amount and all other (contingent or otherwise) liabilities of Guarantor that are relevant under such laws and after giving effect to any rights to contribution pursuant to any
agreement providing for an equitable contribution among Guarantor and the other Guarantors 

  
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(including this Guaranty), result in the Guarantor Obligations of Guarantor under this Guaranty in respect of such maximum amount not constituting a fraudulent transfer or conveyance. 

24. Notwithstanding anything herein to the contrary, the total liability of the Guarantor with respect to the
Company’s obligations under the Biovest Security Agreement and the other Ancillary Agreements entered into thereunder (including intellectual property security agreements), as relates solely to the direct obligations of the Company to the
Creditor Parties under the Biovest Security Agreement shall in no event exceed $4,991,360 in the aggregate, and this Agreement shall not be enforceable to the extent that the enforcement hereof would create, cause, or result in liability in excess
of such amount. The limitation set forth in this Section 24 shall in no event relate to the Guarantor’s obligations hereunder with respect to direct obligations of the Company to the Creditor Parties under the Accentia Security Agreement
and the Accentia Term Notes. 
 [REMAINDER OF THIS PAGE IS BLANK. 

SIGNATURE PAGE IMMEDIATELY FOLLOWS] 

  
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 IN WITNESS WHEREOF, this Guaranty has been executed by the undersigned as of
the date and year here above written. 
  

					
	ANALYTICA INTERNATIONAL, INC.
		
	By:	 	 /s/ Samuel S. Duffey

		 	Name:	 	    Samuel S. Duffey
		 	Title:	 	    President
	
	Address:
	324 South Hyde Park Avenue, Suite 350
	Tampa, Florida 33606
	Telephone:	 	    813/864-2554
	Facsimile:	 	    813/258-6912
	State of Formation: FloridaStock Pledge Agreement between Accentia and LV Administrative

 Exhibit 10.11 
 STOCK PLEDGE AGREEMENT 
 (Biovest Common Stock) 

THIS STOCK PLEDGE AGREEMENT (this “Agreement”), dated as of November 17, 2010, by and between LV
Administrative Services, Inc., as Administrative and Collateral Agent for the Lenders (the “Pledgee”), and Accentia Biopharmaceuticals, Inc., a Florida corporation (the “Pledgor”). 

BACKGROUND 
 Pledgor has entered into (a) that certain Term Loan and Security Agreement dated as of November 17, 2010 (as amended, restated, modified and/or supplemented from time to time, the
“Security Agreement”), by and among the Pledgor, the Lenders party thereto and the Pledgee (Pledgee and the Lenders, each a “Creditor Party” and collectively, the “Creditor Parties”), and
(b) certain of the Ancillary Agreements referred to in the Security Agreement. 
 In order to induce the Pledgee to provide
or continue to provide the financial accommodations described in the Security Agreement, the Pledgor has agreed to pledge and grant a security interest in the collateral described herein to the Pledgee, for the ratable benefit of Creditor Parties,
on the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration the receipt of which is hereby acknowledged, the parties hereto agree as follows: 
 1. Defined
Terms. All capitalized terms used herein which are not defined shall have the meanings given to them in the Security Agreement. 
 2. Pledge and Grant of Security Interest. To secure the full and punctual payment and performance of the Pledgor’s Obligations under the Security Agreement and the Ancillary Agreements
referred to in the Security Agreement (the Security Agreement and the Ancillary Agreements, as each may be amended, restated, modified and/or supplemented from time to time, collectively, the “Documents”), the Pledgor hereby
pledges, assigns, hypothecates, transfers and grants a security interest to Pledgee, for the ratable benefit of Creditor Parties, in all of the following (the “Collateral”): 

(a) the shares of stock or other equity interests set forth on Schedule A annexed hereto and expressly made a part hereof (the
“Pledged Stock”), the certificates representing the Pledged Stock and all dividends, cash, instruments and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for
any or all of the Pledged Stock; 
 (b) all additional shares of stock or other equity interests of Biovest International, Inc.
(the “Issuer”) from time to time acquired by the Pledgor in connection with stock dividends on the Pledged Stock or a distribution with respect to the Pledged Stock in connection with any increase or reduction of capital,
reclassification, merger, consolidation, sale of assets, combination of shares, stock split, spin-off or split-off (which shares shall be deemed to be part of the Collateral), and the certificates representing such additional shares, and all

 
dividends, cash, instruments and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such shares; and

 (c) all options and rights, whether as an addition to, in substitution of or in exchange for any shares of any Pledged Stock
and all dividends, cash, instruments and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all such options and rights. 

3. Delivery of Collateral. All certificates representing or evidencing the Pledged Stock shall be delivered to and held by or on
behalf of Pledgee pursuant hereto and shall be accompanied by duly executed instruments of transfer or assignments in blank, all in form and substance satisfactory to Pledgee. The Pledgor hereby authorizes the Issuer upon demand by the Pledgee to
deliver any certificates, instruments or other distributions issued in connection with the Collateral directly to the Pledgee, in each case to be held by the Pledgee, subject to the terms hereof. Upon the occurrence and during the continuance of an
Event of Default (as defined below), the Pledgee shall have the right, during such time in its discretion and without notice to the Pledgor, to transfer to or to register in the name of the Pledgee or any of its nominees any or all of the Pledged
Stock. In addition, the Pledgee shall have the right at such time to exchange certificates or instruments representing or evidencing Pledged Stock for certificates or instruments of smaller or larger denominations. 

4. Representations and Warranties of Pledgor. Pledgor represents and warrants to the Pledgee (which, except as otherwise provided
below, representations and warranties shall be deemed to continue to be made until all of the Obligations have been paid in full and each Document and each agreement and instrument entered into in connection therewith has been irrevocably
terminated) that: 
 (a) the execution, delivery and performance by the Pledgor of this Agreement and the pledge of the
Collateral hereunder do not and will not result in any violation of any agreement, indenture, instrument, license, judgment, decree, order, law, statute, ordinance or other governmental rule or regulation applicable to the Pledgor; 

(b) this Agreement constitutes the legal, valid, and binding obligation of the Pledgor enforceable against the Pledgor in accordance with
its terms; 
 (c)(i) all Pledged Stock owned by the Pledgor is set forth on Schedule A hereto and (ii) the Pledgor
is the direct and beneficial owner of each share of the Pledged Stock; 
 (d) all of the shares of the Pledged Stock have been
duly authorized, validly issued and are fully paid and nonassessable; 
 (e) no consent or approval of any person, corporation,
governmental body, regulatory authority or other entity is or will be necessary for (i) the execution, delivery and performance of this Agreement, (ii) the exercise by the Pledgee of any rights with respect to the Collateral or
(iii) the pledge and assignment of, and the grant of a security interest in, the Collateral hereunder; 

  
 2 

 (f) there are no pending or, to the best of the Pledgor’s knowledge, threatened actions
or proceedings before any court, judicial body, administrative agency or arbitrator which may materially adversely affect the Collateral; 
 (g) the Pledgor has the requisite power and authority to enter into this Agreement and to pledge and assign the Collateral to the Pledgee in accordance with the terms of this Agreement; 

(h) the Pledgor owns each item of the Collateral and, except for the pledge and security interest granted to Pledgee hereunder and under
the Biovest Security Agreement, the Collateral shall be, immediately following the closing of the transactions contemplated by the Documents, free and clear of any other security interest, mortgage, pledge, claim, lien, charge, hypothecation,
assignment, offset or encumbrance whatsoever (collectively, “Liens”); 
 (i) there are no restrictions on
transfer of the Pledged Stock contained in the certificate of incorporation or by-laws (or equivalent organizational documents) of the Issuer or otherwise which have not otherwise been enforceably and legally waived by the necessary parties;

 (j) none of the Pledged Stock has been issued or transferred in violation of the securities registration, securities
disclosure or similar laws of any jurisdiction to which such issuance or transfer may be subject; 
 (k) the pledge and
assignment of the Collateral and the grant of a security interest under this Agreement vest in the Pledgee all rights of the Pledgor in the Collateral as contemplated by this Agreement; and 

(l) the Pledgor holds additional shares of capital stock of the Issuer which have been pledged to the parties set forth on Schedule
B annexed hereto and expressly made a part hereof (the “Third Party Pledged Stock”). Other than the Pledged Stock, the Third Party Pledged Stock and the shares of capital stock of the Issuer to be received under the Biovest
Plan, the Pledgor does not own any shares of capital stock of the Issuer. 
 5. Covenants. The Pledgor covenants that,
until the Obligations shall be indefeasibly satisfied in full and each Document and each agreement and instrument entered into in connection therewith is irrevocably terminated: 

(a) the Pledgor will not sell, assign, transfer, convey, or otherwise dispose of its rights in or to the Collateral or any interest
therein; nor will the Pledgor create, incur or permit to exist any Lien whatsoever with respect to any of the Collateral or the proceeds thereof other than that created by this Agreement; 

(b) the Pledgor will, at its expense, defend Pledgee’s right, title and security interest in and to the Collateral against the
claims of any other party; 
 (c) the Pledgor shall at any time, and from time to time, upon the written request of Pledgee,
execute and deliver such further documents and do such further acts and things as Pledgee may reasonably request in order to effectuate the purposes of this Agreement 

  
 3 

 
including, but without limitation, delivering to Pledgee, upon the occurrence of an Event of Default, irrevocable proxies in respect of the Collateral in form satisfactory to Pledgee. Until
receipt thereof, upon an Event of Default that has occurred and is continuing beyond any applicable grace period, this Agreement shall constitute the Pledgor’s proxy to Pledgee or its nominee to vote all shares of Collateral then registered in
the Pledgor’s name; and 
 (d) the Pledgor will not consent to or approve the issuance (i) to the Pledgor of any
additional shares of any class of capital stock or other equity interests of the Issuer, except as provided in the Biovest Plan; or (ii) to the Pledgor of any securities convertible either voluntarily by the holder thereof or automatically upon
the occurrence or nonoccurrence of any event or condition into, or any securities exchangeable for, any such shares, unless, in either case, such shares (excluding any shares received by the Pledgor pursuant to the Biovest Plan) are pledged as
Collateral pursuant to this Agreement. 
 6. Voting Rights and Dividends. In addition to the Pledgee’s rights and
remedies set forth in Section 8 hereof, in case an Event of Default shall have occurred and be continuing, beyond any applicable cure period, the Pledgee shall (i) be entitled to vote the Collateral, (ii) be entitled to give consents,
waivers and ratifications in respect of the Collateral (the Pledgor hereby irrevocably constituting and appointing the Pledgee, with fill power of substitution, the proxy and attorney-in-fact of the Pledgor for such purposes) and (iii) be
entitled to collect and receive for its own use cash dividends paid on the Collateral. The Pledgor shall not be permitted to exercise or refrain from exercising any voting rights or other powers if, in the reasonable judgment of the Pledgee, such
action would have a material adverse effect on the value of the Collateral or any part thereof; and, provided, further, that the Pledgor shall give at least five (5) days’ written notice of the manner in which the Pledgor intends to
exercise, or the reasons for refraining from exercising, any voting rights or other powers other than with respect to any election of directors and voting with respect to any incidental matters. Following the occurrence of an Event of Default, all
dividends and all other distributions in respect of any of the Collateral shall be delivered to the Pledgee to hold as Collateral and shall, if received by the Pledgor, be received in trust for the benefit of the Pledgee, and be forthwith delivered
to the Pledgee as Collateral in the same form as so received (with any necessary endorsement). 
 7. Event of Default. An
“Event of Default” under this Agreement shall occur upon the happening of any of the following events: 
 (a)
An “Event of Default” under and as defined in any Document shall have occurred and be continuing beyond any applicable cure period; 
 (b) The Pledgor shall default in the performance of any of its obligations under any Document, including, without limitation, this Agreement, and such default shall not be cured during the cure period
applicable thereto, and the result of which has had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; 
 (c) Any representation or warranty of the Pledgor made herein, in any Document or in any agreement, statement or certificate given in writing pursuant hereto or thereto or in connection herewith or
therewith shall be false or misleading in any material respect, and the result of which, in the case of a breach of the representations and warranties 

  
 4 

 
contained in Section 4(a) or (f), has had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; 

(d) Any portion of the Collateral is subjected to a levy of execution, attachment, distraint or other judicial process or any portion of
the Collateral is the subject of a claim (other than by the Pledgee) of a Lien or other right or interest in or to the Collateral and such levy or claim shall not be cured, disputed or stayed within a period of thirty (30) days after the
occurrence thereof; or 
 (e) The Pledgor shall (i) apply for, consent to, or suffer to exist the appointment of, or the
taking of possession by, a receiver, custodian, trustee, liquidator or other fiduciary of itself or of all or a substantial part of its property, (ii) make a general assignment for the benefit of creditors, (iii) commence a voluntary case
under any state or federal bankruptcy laws (as now or hereafter in effect), (iv) be adjudicated a bankrupt or insolvent, (v) file a petition seeking to take advantage of any other law providing for the relief of debtors,
(vi) acquiesce to, or fail to have dismissed, within thirty (30) days, any petition filed against it in any involuntary case under such bankruptcy laws, or (vii) take any action for the purpose of effecting any of the foregoing.

 8. Remedies. In case an Event of Default shall have occurred and is continuing, the Pledgee may: 

(a) Transfer any or all of the Collateral into its name, or into the name of its nominee or nominees; 

(b) Exercise all corporate rights with respect to the Collateral including, without limitation, all rights of conversion, exchange,
subscription or any other rights, privileges or options pertaining to any shares of the Collateral as if it were the absolute owner thereof, including, but without limitation, the right to exchange, at its discretion, any or all of the Collateral
upon the merger, consolidation, reorganization, recapitalization or other readjustment of the Issuer thereof, or upon the exercise by the Issuer of any right, privilege or option pertaining to any of the Collateral, and, in connection therewith, to
deposit and deliver any and all of the Collateral with any committee, depository, transfer agent, registrar or other designated agent upon such terms and conditions as it may determine, all without liability except to account for property actually
received by it; and 
 (c) Subject to any requirement of applicable law, sell, assign and deliver the whole or, from time to
time, any part of the Collateral at the time held by the Pledgee, at any private sale or at public auction, with or without demand, advertisement or notice of the time or place of sale or adjournment thereof or otherwise (all of which are hereby
waived, except such notice as is required by applicable law and cannot be waived), for cash or credit or for other property for immediate or future delivery, and for such price or prices and on such terms as the Pledgee in its sole discretion may
determine, or as may be required by applicable law. 
 The Pledgor hereby waives and releases any and all right or equity of
redemption, whether before or after sale hereunder. At any such sale, unless prohibited by applicable law, the Pledgee may bid for and purchase the whole or any part of the Collateral so sold free from any

  
 5 

 
such right or equity of redemption. All moneys received by the Pledgee hereunder, whether upon sale of the Collateral or any part thereof or otherwise, shall be held by the Pledgee and applied by
it as provided in Section 10 hereof. No failure or delay on the part of the Pledgee in exercising any rights hereunder shall operate as a waiver of any such rights nor shall any single or partial exercise of any such rights preclude any other
or future exercise thereof or the exercise of any other rights hereunder. The Pledgee shall have no duty as to the collection or protection of the Collateral or any income thereon nor any duty as to preservation of any rights pertaining thereto,
except to apply the funds in accordance with the requirements of Section 10 hereof. The Pledgee may exercise its rights with respect to property held hereunder without resort to other security for or sources of reimbursement for the
Obligations. In addition to the foregoing, Pledgee shall have all of the rights, remedies and privileges of a secured party under the Uniform Commercial Code of New York (the “UCC”) regardless of the jurisdiction in which
enforcement hereof is sought. 
 9. Private Sale. The Pledgor recognizes that the Pledgee may be unable to effect (or to
do so only after delay which would adversely affect the value that might be realized from the Collateral) a public sale of all or part of the Collateral by reason of certain prohibitions contained in the Securities Act, and may be compelled to
resort to one or more private sales to a restricted group of purchasers who will be obliged to agree, among other things, to acquire such Collateral for their own account, for investment and not with a view to the distribution or resale thereof. The
Pledgor agrees that any such private sale may be at prices and on terms less favorable to the seller than if sold at public sales provided that such private sales shall have been made in a commercially reasonable manner. The Pledgor agrees that the
Pledgee has no obligation to delay sale of any Collateral for the period of time necessary to permit the Issuer to register the Collateral for public sale under the Securities Act. 

10. Proceeds of Sale. The proceeds of any collection, recovery, receipt, appropriation, realization or sale of the Collateral
shall be applied by the Pledgee as follows: 
 (a) First, to the payment of all costs, reasonable expenses and charges of the
Pledgee and to the reimbursement of the Pledgee for the prior payment of such costs, reasonable expenses and charges incurred in connection with the care and safekeeping of the Collateral (including, without limitation, the reasonable expenses of
any sale or any other disposition of any of the Collateral), attorneys’ fees and reasonable expenses, court costs, any other fees or expenses incurred or expenditures or advances made by Pledgee in the protection, enforcement or exercise of its
rights, powers or remedies hereunder; 
 (b) Second, to the payment of the Obligations, in whole or in part, in such order as
the Pledgee may elect, whether or not such Obligations are then due; 
 (c) Third, to such persons, firms, corporations or other
entities as required by applicable law including, without limitation, Section 9-61 5(a)(3) of the UCC; and 
 (d) Fourth,
to the extent of any surplus to the Pledgor or as a court of competent jurisdiction may direct. 

  
 6 

 In the event that the proceeds of any collection, recovery, receipt, appropriation.
realization or sale are insufficient to satisfy the Obligations, the Pledgor shall be liable for the deficiency plus the costs and fees of any attorneys employed by Pledgee to collect such deficiency. 

11. Waiver of Marshaling. The Pledgor hereby waives any right to compel any marshaling of any of the Collateral. 

12. No Waiver. Any and all of the Pledgee’s rights with respect to the Liens granted under this Agreement shall continue
unimpaired, and the Pledgor shall be and remain obligated in accordance with the terms hereof, notwithstanding (a) the bankruptcy, insolvency or reorganization of the Pledgor, (b) the release or substitution of any item of the Collateral
at any time, or of any rights or interests therein, or (c) any delay, extension of time, renewal, compromise or other indulgence granted by the Pledgee in reference to any of the Obligations. The Pledgor hereby waives all notice of any such
delay, extension, release, substitution, renewal, compromise or other indulgence, and hereby consents to be bound hereby as fully and effectively as if the Pledgor had expressly agreed thereto in advance. No delay or extension of time by the Pledgee
in exercising any power of sale, option or other right or remedy hereunder, and no failure by the Pledgee to give notice or make demand, shall constitute a waiver thereof, or limit, impair or prejudice the Pledgee’s right to take any action
against the Pledgor or to exercise any other power of sale, option or any other right or remedy. 
 13. Expenses. The
Collateral shall secure, and the Pledgor shall pay to Pledgee on demand, from time to time, all reasonable costs and expenses, (including but not limited to, reasonable attorneys’ fees and costs, taxes, and all transfer, recording, filing and
other charges) for, or incidental to, the custody, care, transfer, administration of the Collateral or any other collateral, or in any way relating to the enforcement, protection or preservation of the rights or remedies of the Pledgee under this
Agreement or with respect to any of the Obligations. 
 14. The Pledgee Appointed Attorney-In-Fact and Performance by the
Pledgee. Upon the occurrence of an Event of Default, the Pledgor hereby irrevocably constitutes and appoints the Pledgee as the Pledgor’s true and lawful attorney-in-fact, with full power of substitution, to execute, acknowledge and deliver
any instruments and to do in the Pledgor’s name, place and stead, all such acts, things and deeds for and on behalf of and in the name of the Pledgor, which the Pledgor could or might do or which the Pledgee may deem necessary, desirable or
convenient to accomplish the purposes of this Agreement, including, without limitation, to execute such instruments of assignment or transfer or orders and to register, convey or otherwise transfer title to the Collateral into the Pledgee’s
name. The Pledgor hereby ratifies and confirms all that said attorney-in-fact may so do and hereby declares this power of attorney to be coupled with an interest and irrevocable. If the Pledgor fails to perform any agreement herein contained, the
Pledgee may itself perform or cause performance thereof, and any costs and expenses of the Pledgee incurred in connection therewith shall be paid as provided in Section 10 hereof. 

15. Recapture. Notwithstanding anything to the contrary in this Agreement, if the Pledgee receives any payment or payments on
account of the Obligations, which payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver, or any other party under

  
 7 

 
the United States Bankruptcy Code, as amended, or any other federal or state bankruptcy. reorganization, moratorium or insolvency law relating to or affecting the enforcement of creditors’
rights generally, common law or equitable doctrine, then to the extent of any sum not finally retained by the Pledgee, the Pledgor’s obligations to the Pledgee shall be reinstated and this Agreement shall remain in full force and effect (or be
reinstated) until payment shall have been made to Pledgee, which payment shall be due on demand. 
 16. Captions. All
captions in this Agreement are included herein for convenience of reference only and shall not constitute part of this Agreement for any other purpose. 
 17. Miscellaneous. 
 (a) This Agreement constitutes the entire and final
agreement among the parties with respect to the subject matter hereof and may not be changed, terminated or otherwise varied except by a writing duly executed by the parties hereto. 

(b) No waiver of any term or condition of this Agreement, whether by delay, omission or otherwise, shall be effective unless in writing
and signed by the party sought to be charged, and then such waiver shall be effective only in the specific instance and for the purpose for which given. 
 (c) In the event that any provision of this Agreement or the application thereof to the Pledgor or any circumstance in any jurisdiction governing this Agreement shall, to any extent, be invalid or
unenforceable under any applicable statute, regulation, or rule of law, such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform to such statute, regulation or rule of law, and
the remainder of this Agreement and the application of any such invalid or unenforceable provision to parties, jurisdictions, or circumstances other than to whom or to which it is held invalid or unenforceable shall not be affected thereby, nor
shall same affect the validity or enforceability of any other provision of this Agreement. 
 (d) This Agreement shall be
binding upon the Pledgor, and the Pledgor’s successors and assigns, and shall inure to the benefit of the Pledgee and its successors and assigns. 
 (e) Any notice or other communication required or permitted pursuant to this Agreement shall be given in accordance with the Security Agreement. 

(f) THIS AGREEMENT AND THE OTHER DOCUMENTS SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. 
 (g) THE
PLEDGOR HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF NEW YORK SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THE PLEDGOR, ON THE ONE HAND, AND

  
 8 

 
THE PLEDGEE, ON THE OTHER HAND, PERTAINING TO THIS AGREEMENT OR ANY OF THE OTHER DOCUMENTS OR TO ANY MATTER ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY OF THE OTHER DOCUMENTS,
PROVIDED, THAT THE PLEDGOR ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE COUNTY OF NEW YORK, STATE OF NEW YORK; AND FURTHER PROVIDED, THAT NOTHING IN THIS AGREEMENT SHALL BE
DEEMED OR OPERATE TO PRECLUDE THE PLEDGEE FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO COLLECT THE INDEBTEDNESS, TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE INDEBTEDNESS, OR TO ENFORCE A JUDGMENT OR
OTHER COURT ORDER IN FAVOR OF THE PLEDGEE. THE PLEDGOR EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND THE PLEDGOR HEREBY WAIVES ANY OBJECTION THAT IT MAY HAVE BASED UPON LACK OF
PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS. THE PLEDGOR HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND
OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO THE PLEDGOR AT THE ADDRESS SET FORTH IN THE SECURITY AGREEMENT AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF THE PLEDGOR’S ACTUAL RECEIPT THEREOF OR
THREE (3) DAYS AFTER DEPOSIT IN THE U.S. MAIL, PROPER POSTAGE PREPAID. 
 (h) Waivers. THE PARTIES HERETO DESIRE
THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE PARTIES HERETO WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT,
OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE BETWEEN PLEDGEE AND/OR THE PLEDGOR ARISING OUT OF, CONNECTED WITH, RELATED OR. INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN CONNECTION WITH
THIS AGREEMENT, ANY OTHER DOCUMENT OR THE TRANSACTIONS RELATED HERETO OR THERETO. 
 (i) It is understood and agreed that any
person or entity that desires to become a Pledgor hereunder, or is required to execute a counterpart of this Agreement after the date hereof pursuant to the requirements of any Document, shall become a Pledgor hereunder by (i) executing a
Joinder Agreement in form and substance satisfactory to the Pledgee, (ii) delivering supplements to such exhibits and annexes to such Documents as the Pledgee shall reasonably request and/or set forth in such joinder agreement and
(iii) taking all actions as specified in this Agreement as would have been taken by the Pledgor had it been an original party to this Agreement, in each case with all documents required above to be delivered to the Pledgee and with all
documents and actions required above to be taken to the reasonable satisfaction of the Pledgee. 

  
 9 

 (j) This Agreement may be executed in one or more counterparts, each of which shall be
deemed an original, and all of which when taken together shall constitute one and the same agreement. Any signature delivered by a party by facsimile transmission or other electronic transmission shall be deemed an original signature hereto.

 [Remainder of Page Intentionally Left Blank] 

  
 10 

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

			
	ACCENTIA BIOPHARMACEUTICALS, INC.
		
	By:	 	 /s/ Samuel S. Duffey

	Name: Samuel S. Duffey
	Title: President
	
	LV ADMINISTRATIVE SERVICES, INC.
		
	By:	 	 /s/ Patrick Regan

	Name: Patrick Regan
	Title: Authorized Signatory

  
 11 

 SCHEDULE A 

Pledged Stock* 
  

											
	 Pledgor
	  	 Issuer
	  	 Class of

Stock
	  	Stock Certificate No.	  	Par Value	  	 Number of

Shares

	Accentia Biopharmaceuticals, Inc.	  	Biovest International, Inc.	  	Common Stock	  	BI2228
 BI2229

BI2230

BI2449
	  	$.01
 $.01

$.01

$.01
	  	 5,000,000
 5,000,000
 10,000,000

115,818

Total:

20,115,818

  

	*	Following the Effective Date, the Pledged Stock will be evidenced by one (1) certificate for 20,115,818 shares of Common Stock of Biovest International, Inc.

  
 12 

 SCHEDULE B 

Third Party Pledged Stock 
  

													
	 Pledgor
	  	 Third Party Pledgee/Set
Aside For
	  	 Issuer
	  	 Class of Stock
	  	Stock
Certificate No.	  	Par
Value	  	Number of
Shares
	Accentia Biopharmaceuticals, Inc.	  	Southwest Bank	  	Biovest International, Inc.	  	Common Stock	  	B12385	  	$.01	  	15,000,000
							
	Accentia Biopharmaceuticals, Inc.	  	McKesson Corporation	  	Biovest International, Inc.	  	Common Stock	  	B12384	  	$.01	  	18,000,000
							
	Accentia Biopharmaceuticals, Inc.	  	September 2006 Debenture Holders	  	Biovest International, Inc.	  	Common Stock	  	B12230	  	$.01	  	18,000,000
							
	Accentia Biopharmaceuticals, Inc.	  	BDSI Warrant	  	Biovest International, Inc.	  	Common Stock	  	B12451	  	$.01	  	2,000,000

  
 13 

 STOCK POWER 
 The undersigned, for good and valuable consideration, does hereby transfer and assign      shares of common stock of Biovest International, Inc. (the
“Company”), represented by the attached certificate numbers      ( the “Shares”) to
                             and does hereby irrevocably appoint
                     as its attorney in fact to transfer said Shares on the books of the Company with full power of substitution in the
premises. 
 Dated:
                     
  

			
	Accentia Biopharmaceuticals, Inc.
		
	By:	 	  

	Name:
	Title:

  
 14 

 Stock Certificate 
 See attached. 

  
 15

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