Document:

Collaborative agreement

  12/10/2015
 COLLABORATIVE AGREEMENT 
 

 Made and entered into as of this 29th day of December 2015 ("the Effective Date")
 

 BY AND BETWEEN
 

 BioLite Inc., a company incorporated under the laws of Taiwan and having its principal place of business at 3rd Floor, 248, Nei-Hu Road, Sec. 1, Taipei, 11493 Taiwan (“BioLite”)
 

 AND
 

 American BriVision Corporation, a company incorporated under the laws of USA and having it principle place of business at 11, Sawyer Park Drive, Goshen, New York 10294 USA (“ABVC”)
 

 WITNESSETH:
 

 WHEREAS, BioLite has been granted licensing rights and/or established its own technology to develop and use proprietary technology and confidential information for the following products (“Product”):
 1.
 BLI-1005  CNS-Major Depressive Disorder
 2.
 BLI-1008  CNS-Attention Deficit Hyperactivity Disorder
 3.
 BLI-1401-1 Anti-Tumor Combination Therapy-Solid Tumor with Anti-PD-1
 4.
 BLI-1401-2 Anti-Tumor Combination Therapy-Triple Negative Breast Cancer
 5.
 BLI-1501  Hematology-Chronic Lymphocytic Leukemia 
 

 And their related intellectual property rights, and has developed them for medicinal use in collaboration with outside researchers. 
 

 WHEREAS, ABVC is a biotech company, and is in the business of research, development and marketing of, among others, new drugs and innovative medical devices;
 

 WHEREAS, ABVC is willing to collaboratively develop and commercialize 
 

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 Product in certain Territory (as defined hereafter);
 

 WHEREAS, the Parties agree to jointly cooperate and commercialize Product in such Territory and enter into the Collaborative Agreement. The parties agree this jointly Collaborative Agreement will be led by ABVC. Herein, it is agreed as follows:
 1. Definitions and Interpretation
 1.1 "Confidential Information" shall mean all confidential, proprietary, trade secret, or non-public information, data and experience, whether of scientific, technical, engineering, operational or economic nature, disclosed by one of the Parties (the "Disclosing Party") to the other Party (the "Recipient") for the purpose of this Collaborative Agreement.
 

 1.2 "Confidential Materials" shall mean any document, diskette, tape, writing or other tangible item to the extent that such item contains or embodies any Confidential Information, whether in printed, handwritten, electronic, coded, magnetic or other form and whether delivered by a Disclosing Party or made by a Recipient.
 

 1.3 "Data" shall mean any and all research data, technical data, test and development data, CMC (chemistry, manufacturing and control), pre-clinical and clinical data, formulations, processes, ideas, protocols, regulatory files and the like which are developed by either Party under the Development Program in connection with its performance of this Collaborative Agreement.
 

 1.4 “Field” shall mean drug and therapeutic use of the Product based upon the Health Registration Approval and in no event include the use of the Product for functional food, health food nor health supplement.
 

 1.5 "Intellectual Property" shall mean any patent, copyright, mask work, trade secret, trademark or other proprietary right; including, without limitation, all domestic and foreign applications and registrations therefore, and all renewals and extensions relating thereto; with respect to patent application and patents, all domestic and foreign divisional, continuations, continuations-in-part, substitutions, reissues, re-examinations, renewals and extensions relating thereto; all goodwill associated therewith, and all benefits, privileges, causes of action and 
 

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 remedies relating to any of the foregoing proprietary rights (including, without limitation, the right to use for all past, current or future infringements or violations of the foregoing proprietary rights, and the right to settle and retain proceeds from any such actions).
 

 1.6 "Territory" shall mean North America (USA and Canada).  
 

 2. Agreement Grants to ABVC. 
 BioLite hereby grants sole licensing rightsto ABVC, in the Field and in the Territory under the Intellectual Property, Confidential Information, Data and Trademark, to develop Product.
 

 3.
 Milestone Payment
 3.1 Total payment shall be One Hundred (100) Million US Dollars (non-refundable, before tax), paid in cash or stock of ABVC with equivalent value.
 3.2 The payment shall be paid according to the following milestones:
 

 3.2.1 upfront payment shall upon the signing of this Collaborative Agreement: 3.5% of total payment.
 3.2.1.1 after receiving upfront payment from ABVC, BioLite has to deliver all data to ABVC in one week.
 3.2.2 upon the first IND submission, ABVC shall pay, but no later than Dec. 15th, 2016: 6.5% of total payment.
   3.2.2.1 after receiving second payment from ABVC, BioLite has to deliver IND package to ABVC in one week.
 3.2.3 at the completion of first phase II clinical trial, ABVC shall pay, but no later than Sep.15th, 2017: 15% of total payment.
   3.2.3.1 after receiving third payment from ABVC, BioLite has to deliver phase II clinical study report to ABVC in three months.
 3.2.4 upon the phase III IND submission, ABVC shall pay, but no later than Dec. 15th, 2018: 20% of total payment.
 3.2.4.1 after receiving forth payment from ABVC, BioLite has to deliver IND package to ABVC in one week.
 3.2.5 at the completion of phase III, ABVC shall pay, but no 
 

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 later than Sep. 15th, 2019 : 25% of total payment.
   3.2.5.1 after receiving fifth payment from ABVC, BioLite has to deliver phase III clinical study report to ABVC in three months
 3.2.6 upon the NDA submission, ABVC shall pay, but no later than Dec. 15th, ABVC shall pay, 2020: 30% of total payment.
   3.2.6.1 after receiving sixth payment from ABVC, BioLite has to deliver NDA package to ABVC in one week
 

 

 4.  Royalty Charge: 5% of the net sales.
 

 5.  Confidentiality
 The Parties agree that during the term of this Collaborative Agreement and thereafter ten (10) years Confidential Information exchanged during the course of this Collaborative Agreement and will be accorded confidential treatment and shall not be used for any other purpose than the performance of this Collaborative Agreement and the exercise of the rights herein provided.
 

 The Recipient’s obligation hereunder shall not apply to:
 (a) Information which is now or hereafter becomes part of the public domain in other ways than by faults, acts or omissions of the Recipient;
 (b) Information which the Recipient can show by sufficient evidence was in its own possession prior to the time of receipt from the Disclosing Party or is independently developed by or for the Recipient without reliance upon or use of any of the Disclosing Party's Confidential Information or Confidential Materials;
 (c) Information which is required to be disclosed by statute or governmental rule or regulation or by a court or administrative body.
 

 Nothing herein shall prevent BioLite or ABVC from disclosing any of such Confidential Information to the extent that (i) such Confidential Information is disclosed in connection with the securing of the IND or NDA, (ii) such information is disclosed for the purpose of obtaining a governmental approval for the manufacture and/or sale of or effectuating 
 

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 the development, marketing and promotion of any Product and/or API or (iii) such information is disclosed to the Sub-licensee(s) of BioLite or ABVC for the use thereof upon executing a separate confidentiality disclosure agreement.
 

 6. Duration and Termination
 6.1 Duration
 This Collaborative Agreement shall, once signed by both Parties, remain in effect for fifteen (15) years as of the first commercial sales of the Product in the Territory and automatically renew for 5 more years unless either Party gives the other Party six (6) month written notice of termination prior to the expiration date of the term.
 

 6.2 Termination for Cause
 This Collaborative Agreement can be terminated by either Party for any of the following causes by giving to the other Party (“Breaching Party”) thirty (30) day written notice of its intention to terminate for such causes as follows:
 
 (a)
 If Breaching Party materially breaches any provision of this Agreement and such breach is not cured within thirty (30) day following the written notice by Non-breaching Party; or
 
 (b)
 If a Party is the subject of a voluntary petition in bankruptcy or any voluntary proceeding relating to insolvency, receivership, liquidation, or composition for the benefit of creditors, if such petition or proceeding is not dismissed within thirty (30) days of filing, or becomes the subject of any involuntary petition in bankruptcy or any involuntary proceeding relating to insolvency, receivership, liquidation, or composition for the benefit of creditors, if such petition or proceeding is not dismissed within thirty (30) days of filling.
 Termination is not the sole or exclusive remedy under this Agreement and, whether or not termination is effected, all other rights and remedies at law or equity will remain available.
 

 

 

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 7. Miscellaneous
 7.1 Notice
 All notices, requests, demands and other communications to be given in accordance with this Agreement shall be given in writing and/or by prepaid registered mail or receipt return requested to the other Party at the following addresses:
 

 If to BioLite: 
 BioLite. Inc.
 3rd Floor, 248, Nei-Hu Road, Sec. 1, Taipei, 11493 Taiwan 
 Attention: Webster Kiang
 Title: President
 

 If to ABVC:
 American BriVision Corporation
 11, Sawyer Park Drive, Goshen, New York 10294 USA Attention: Kazunori Kameyama
 Title: Chief Business Officer 
  
 7.2 Applicable Law
 This Agreement and any disputes arising out of or relating thereto, including, without limitation, its interpretation, construction, performance, and enforcement shall be governed by and construed in accordance with the laws of Taiwan.
 

 7.3 Dispute Dissolution
 Both Parties shall endeavor to settle amicably and promptly any disputes, controversies and differences which may arise between the Parties out of or in relation to this Agreement or any breach thereof.  In case such an amicable settlement is not attained, the matter shall be finally settled by arbitration according to the Rules of Conciliation and Arbitration of the International Chamber of Commerce, which rules shall be deemed 
 

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 incorporated into this paragraph. The place of arbitration will be Taipei (Taiwan).
 

 7.4 Addendum or amendment may be added upon mutual agreement of the parties.
 

 

 IN WITNESS WHEREOF the Parties hereto have caused this Collaborative Agreement to be executed, in duplicate, each Party taking a copy, as of the Effective Date.
 

 

 

 

 	 	
	 BIOLITE, INC.
	 American BriVision Corporation

	 

	 

	 

	 

	 By:               
	 By:              

	    Frank Liu
	    Kira Huang

	    Supervisor
	    CFO

	 Date: 
	 Date: 

 

 

 7Employment agreement

  American Brivision Corporation     Employment Agreement 
 

 THIS AGREEMENT made as of the First day of February, 2016 , between American BriVision Corporation, a corporation incorporated under the laws of the State of Delaware U.S.A. ,  and having its principal place of business at Taipei, Taiwan Republic of China ROC (the "Employer"); and Fan-Ling Huang,  (the "Employee"). WHEREAS the Employer desires to obtain the benefit of the services of the Employee, and the Employee desires to render such services on the terms and conditions set forth. IN CONSIDERATION of the promises and other good and valuable consideration (the sufficiency and receipt of which are hereby acknowledged) the parties agree as follows: 
 

 1. Employment 
 The Employee agrees that at all times faithfully, industriously, and to the best of skill, ability, experience and talents, perform all of the duties required of job position. In carrying out these duties and responsibilities, the Employee shall comply with all Employer policies, procedures, rules and regulations, both written and oral, as are announced by the Employer from time to time. It is also understood and agreed to by the Employee that his assignment, duties and responsibilities and reporting arrangements may be changed by the Employer in its sole discretion without causing termination of this agreement.
 2. Position 
 Title as Chief Financial Officer, the Employee is required to perform duties and undertake the following responsibilities in a professional manner. 
 (a) – Report all the financials related matters to Company Board of Directors.
 (b) – Develop financial planning and oversee tax reporting activities.   
 (c) – Monitor and submit all required reports to SEC on timely basis. 
 (d) – Plan and oversee annual budgets.
 (e) – Other duties as may arise from time to time and as may be assigned to the employee.
 3. Compensation 
 (a) As full compensation for all services provided the employee shall be paid at the rate of USD 3,000 per month. Such payments shall be subject to such normal statutory deductions by the Employer. 
 (b) Additional bonus calculations or stock options issuance will be determined regularly by Board of Directors. 
 (c) The salary mentioned in paragraph 3 (a) shall be review on an annual basis. 
 

 (d) All reasonable expenses arising out of employment shall be reimbursed assuming same have been authorized prior to being incurred and with the provision of appropriate receipts.
 4. Vacation 
 The Employee shall be entitled to vacations in the amount of  3 weeks per annum.
 5. Benefits 
 The Employer shall at its expense provide the Employee with the Health Plan that is currently in place or as may be in place from time to time. 
 6. Probation Period 
 It is understood and agreed that the first thirty days of employment shall constitute a probationary period during which period the Employer may, in its absolute discretion, terminate the Employee's employment, for any reason without notice or cause. 
 7. Performance Reviews 
 The Employee may be provided with a written performance appraisal at least once per year and said appraisal will be reviewed at which time all aspects of the assessment can be fully discussed. 
 8. Termination 
 (a) The Employee may at any time terminate this agreement and his employment by giving not less than three weeks written notice to the Employer. (b) The Employer may terminate this Agreement and the Employee’s employment at any time, without notice or payment in lieu of notice, for sufficient cause. (c) The Employer may terminate the employment of the Employee at any time without the requirement to show sufficient cause pursuant to (b) above, provided the Employer pays to the Employee an amount as required by the government legislation as may be in effect at the time of termination.  This payment shall constitute the employees entire entitlement arising from said termination. (d) The employee agrees to return any employer property at the time of termination.
 9. Laws 
 This agreement shall be governed by the laws of the State of Delaware.
 10. Entire Agreement This agreement contains the entire agreement between the parties, superseding in all respects any and all prior oral or written agreements or understandings pertaining to the employment of the Employee by the Employer and shall be amended or modified only by written instrument signed by both of the parties hereto. 
 11. Severability The parties hereto agree that in the event any article or part thereof of this agreement is held to be unenforceable or invalid then said article or part shall be struck and all remaining provision shall remain in full force and effect.
 

 

 IN WITNESS WHEREOF the Employer has caused this agreement to be executed by its duly authorized officers and the Employee has set his hand as of the date first above written. 
 

 SIGNED, SEALED AND DELIVERED in the presence of: 
 

 Fan Ling Huang
 [Name of employee]
 

  ________________________________________ 
 [Signature of Employee]
 

 

 Eugene Jiang 
 [Name of Employer Rep]
 

 ________________________________________ 
 [Signature of Employer Rep] [Title]

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