Document:

Exhibit 10.2

 

Consultant Agreement

  

Consultant Agreement,
made as of February 3, 2017 between Delta Technology Holdings Limited (the “Corporation”),
and Link Capital Financial Services Ltd. (the “Consultant”).

 

Whereas, the
Corporation wishes to assure itself of the services of the Consultant for the period provided in this Agreement, and the Consultant
is willing to provide its services to the Corporation for the period under the terms and conditions hereinafter provided.

 

Now, Therefore,
Witnesseth, that for and in consideration of the premises and of the mutual promises and covenants herein contained, the parties
hereto agree as follows:

 

		1.	Engagement

 

The Corporation agrees
to and does hereby engage the Consultant, and the Consultant agrees to and does hereby accept engagement by the Corporation in
connection with the operation of the business and affairs of the Corporation, for period commencing on February 3, 2017 and ending
on February 3, 2018. The period during which Consultant shall serve in such capacity shall be deemed the “Engagement Period”
and shall hereinafter be referred to as such. The parties further acknowledge that the Consultant has been engaged by the Corporation
since January 24, 2016.

 

		2.	Services

 

2.1       The
parties acknowledge that the Consultant has rendered, since January 24, 2016, the services below and shall render to the Corporation
the services described below, with respect to which the Consultant shall apply his best efforts and devote such time as shall be
reasonably necessary to perform his duties hereunder and advance the interests of the Corporation. The Consultant shall report
to the chief executive officer of the Corporation and to such persons as the chief executive officer shall direct.

 

2.2       The
services rendered or to be rendered by the Consultant to the Corporation shall under no circumstances include the following:

 

		1.	Any activities which could be deemed by the Securities and Exchange Commission to constitute investment
banking or any other activities required the Consultant to register as a broker-dealer under the Securities Exchange Act of 1934,
as amended.

 

		2.	Any activities which could be deemed to be in connection with the offer or sale of securities in
a capital-raising transaction.

 

2.3       The
services to be rendered by the Consultant to the Corporation shall consist of the following:

 

     

     

    

 

2.3.1       Corporate
Planning

 

		1.	Develop an in-depth familiarization with the Corporation’s business objectives and bring
to its attention potential or actual opportunities which meet those objectives or logical extensions thereof.

 

		2.	Alert the Corporation to new or emerging high potential forms of production and distribution which
could either be acquired or developed internally.

 

		3.	Comment on the Corporation’s corporate development including such factors as position in
competitive environment, financial performances vs. competition, strategies, operational viability, etc.

 

2.3.2       Business
Strategies

 

		1.	Evaluate business strategies and recommend changes where appropriate.

 

		2.	Critically evaluate the Corporation’s performance in view of its corporate planning and business
objectives.

 

		3.	Compensation

 

For the services provided
the Corporation shall issue to the Consultant 385,000 ordinary shares. For duties to be rendered and performed by the Consultant
during the Engagement Period and in consideration of the Consultant’s having entered into his agreement, the Corporation,
upon execution of this Agreement, shall issue to the Consultant 400,000 ordinary shares of the Corporation.

 

		4.	Secrets

 

Consultant agrees that
any trade secrets or any other like information of value relating to the business of the Corporation or any of its affiliates has
an ownership interest of more than twenty-five percent (25%), including but not limited to, information relating to inventions,
disclosures, processes, systems, methods, formulae, patents, patent application, machinery, materials, research activities and
plans, costs of production, contract forms, prices volume of sales, promotional methods, list of names or classes of customers,
which he has heretofore acquired during his engagement by the Corporation or any of its affiliates or which he may hereafter acquire
during the Engagement Period as the result of any disclosures to him, or in any other way, shall be regarded as held by the Consultant
in a fiduciary capacity solely for the benefit of the Corporation, its successors or assigns, and shall not at any time, either
during the term of this Agreement or thereafter, be disclosed, divulged, furnished, or made accessible by the Consultant to anyone,
or be otherwise used by his except in the regular course of business of the Corporation or its affiliates.

 

     

     

    

 

		5.	Assignment

 

This Agreement may
be assigned by the Corporation as part of the sale of substantially all of its business, provided, however, that the purchaser
shall expressly assume all obligations of the Corporation under this Agreement. Further, this Agreement may be assigned by the
Corporation to an affiliate, provided that any such affiliate shall expressly assume all obligation of the Corporation under this
Agreement, and provided further that the Corporation shall then fully guarantee the performance of the Agreement by such affiliate.
Consultant agrees that if this Agreement is so assigned, all the terms and conditions of this Agreement shall be between assignee
and himself with the same force and effect as if said Agreement had been made with such assignee in the first instance. This Agreement
shall not be assigned by the Consultant without the express written consent of the Corporation.

 

		6.	Survival of Certain Agreements

 

The covenants and agreements
set forth in Article 4 and Article 5 shall survive the expiration of the Engagement Period and shall all survive termination of
this Agreement and remain in full force and effect regardless of the cause of such termination.

 

		7.	Notices

 

7.1       All
notices permitted to be given hereunder shall be delivered by hand, telecopier, or recognized courier service to the party to whom
such notice is required or permitted to be given hereunder. Any notices delivered to the address designated for such delivery by
such party, notwithstanding the refusal of such party or other person to accept such delivery.

 

7.2       Any
notice to the Corporation or to any assignee of the Corporation shall be addressed as follows:

 

Xin Chao

Chief Executives Officer

Delta Technology Holdings Limited

16 Kaifa Avenue

Danyang, Jiangsu, China 212300

 

     

     

    

 

7.3       Any
notice to Consultant shall be addressed as follows:

 

Taras Vazhnov

22-96 Zoologicheskaya Street

Moscow, Russian Federation 123242

 

7.4       Either
party may change the address to which notice is to be addressed, by notice as provided herein.

 

		8.	Applicable Law

 

This Agreement shall
be interpreted and enforced in accordance with the laws of New York.

 

		9.	Interpretation

 

Whenever possible,
each Article of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any
Article is unenforceable or invalid under such law, such Article shall be ineffective only to the extent of such unenforceability
or invalidity, and the remainder of such Article and the balance of this Agreement shall in such event continue to be binding and
in full force and effect.

 

     

     

    

 

In Witness Whereof,
the parties hereto have executed the above Agreement as of the day and year first above written:

 

	 	Link Capital Financial Services Ltd.
	 	 
	 	 
	 	By: /s/ Taras Vazhnov                                                                     
		Name: Taras Vazhnov
	 	 
	 	 
	 	Delta Technology Holdings Limited
	 	 
	 	By: /s/ Chao Xin
	 	Name: Chao XinExhibit 10.1

 

CONSENT AND AMENDMENT NO. 1 MEMORANDUM

 

	
TO:
    	
Regeneron   Pharmaceuticals, Inc. Lender Group
    
	
 
    	
 
    
	
RE:
    	
Consent   to Amendments re: Purchase by Regeneron Pharmaceuticals, Inc. of Corporate   Headquarters Campus Located in the Towns of Mount Pleasant and Greenburgh, NY   and Related Lease Financing
    
	
 
    	
 
    
	
DATE:
    	
February 2,   2017
    

 

Reference is hereby made to that certain Credit Agreement dated as of March 19, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among Regeneron Pharmaceuticals, Inc. (the “Company”), the Subsidiary Borrowers parties thereto from time to time, the lenders parties thereto (collectively, the “Lenders”) and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”).  Terms used herein and not otherwise defined herein shall have the meanings set forth in the Credit Agreement.  This Consent and Amendment No. 1 Memorandum is referred to herein as the “Consent Memorandum”.

 

The Company has informed the Administrative Agent and the Lenders that:

 

1.              The Company has entered into that certain Purchase Agreement, dated as of December 30, 2016 (as amended or otherwise modified from time to time, the “Purchase Agreement”), with BMR-Landmark at Eastview LLC and BMR-Landmark at Eastview IV LLC, as the sellers (collectively, the “Sellers”), pursuant to which the Company has agreed to purchase from the Sellers the Company’s existing corporate headquarters and other rentable area consisting of approximately 150 acres of predominately office buildings and laboratory space located in the towns of Mount Pleasant and Greenburgh, NY (the “Corporate Campus Facility”).

 

2.              The Company proposes to finance the acquisition of the Corporate Campus Facility, directly or indirectly through a directly or indirectly wholly-owned subsidiary, pursuant to a lease financing transaction.  As part of the contemplated financing, the Company intends to assign some or all of its rights under the Purchase Agreement (including the right to take title to the Corporate Campus Facility) to an affiliate of Bank of America, N.A. (or such other financial institution providing any such lease financing to the Company) at the closing of the financing, as a result of which such financial institution would become the legal owner of the Corporate Campus Facility, subject to the terms and conditions of such financing (such lease financing, the “Corporate Campus Facility Lease Financing”).

 

The Company, on behalf of itself and the Subsidiary Borrowers, has requested that the Administrative Agent and the Required Lenders consent to and agree (i) that any obligations of the Company or its Subsidiaries in connection with the Corporate Campus Facility Lease Financing shall not constitute “Capital Lease Obligations” or “Indebtedness” of the Company or any Subsidiary under the Credit Agreement, and (ii) to amend certain provisions of the Credit Agreement in furtherance of the foregoing as set forth on Schedule A hereto (clauses (i) and (ii) collectively, the “Consent”).  Notwithstanding anything contained in the Credit Agreement and the other Loan Documents to the contrary, the Administrative Agent and the Lenders hereby 

 

1

 

grant the Consent, with retroactive effect to December 30, 2016, by the execution of this Consent Memorandum by the Administrative Agent and the Required Lenders.

 

In connection with the Consent, the Company and each Subsidiary Borrower hereby represent and warrant to the Administrative Agent and the Lenders party hereto that (i) the representations and warranties of the Borrowers set forth in the Credit Agreement (excluding the representations and warranties set forth in Sections 3.04(b) and 3.06(a) thereof) are true and correct in all material respects (or, in the case of any representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or, in the case of any representation or warranty qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date and (ii) on the date hereof and immediately after giving effect to this Consent Memorandum, no Default or Event of Default has occurred and is continuing.

 

Please indicate your Consent, as soon as possible but in no event later than 5:00 p.m. (New York City time) on January 30, 2017, by executing two (2) counterparts of your attached signature page to this Consent Memorandum and, upon execution, return one copy by fax or e-mail to the attention of Jennifer Hirst at Latham & Watkins LLP, counsel to the Administrative Agent (fax number: +1.312.993.9767; e-mail: jennifer.hirst@lw.com) and return two (2) originals to Jennifer Hirst at Latham & Watkins LLP, 330 North Wabash Avenue, Suite 2800, Chicago, IL 60611.  Please make any necessary corrections or adjustments to your signature block prior to execution and delivery.  This Consent Memorandum will be effective, with retroactive effect to December 30, 2016, upon receipt of executed signature pages via facsimile or e-mail from the Company, the Administrative Agent and the Required Lenders pursuant to Section 9.02 of the Credit Agreement.

 

Each reference in the Credit Agreement to “this Credit Agreement,” “this Agreement,” “hereunder,” “hereof,” “herein,” and words of like import, and each reference in the other Loan Documents to the Credit Agreement (including, without limitation, by means of words like “thereunder”, “thereof”, “therein” and words of like import), shall mean and be a reference to the Credit Agreement after giving effect to this Consent Memorandum; and this Consent Memorandum and the Credit Agreement shall be read together and construed as a single instrument.  This Consent Memorandum is a Loan Document.  Except as expressly set forth herein, (i) all of the terms and provisions of the Credit Agreement and all other Loan Documents are and shall remain in full force and effect and are hereby ratified and confirmed and (ii) the execution, delivery and effectiveness of this Consent Memorandum shall not operate as a waiver of any right, power or remedy of the Lenders or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.

 

This Consent Memorandum may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Consent Memorandum by telecopy, e-mailed .pdf or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Consent Memorandum.  This Consent Memorandum and the rights and obligations of the parties hereunder shall be construed and enforced in accordance with and governed by the laws of the State of New York.

 

2

 

[Signature Pages Follow]

 

3

 

	
 
    	
JPMORGAN   CHASE BANK, N.A.,
    
	
 
    	
individually   as a Lender and as Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   D. Scott Farquhar
    
	
 
    	
Name:
    	
D.   Scott Farquhar
    
	
 
    	
Title:   
    	
Executive   Director
    
				

 

[Lenders’ signature pages on file with the Company and the Administrative Agent]

 

Signature Page to Consent and Amendment No. 1 Memorandum

Regeneron Pharmaceuticals, Inc.

 

 

	
Acknowledged   and Agreed:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
REGENERON   PHARMACEUTICALS, INC.,
    	
 
    
	
as   the Company
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Dominick Agron
    	
 
    
	
Name:
    	
Dominick Agron
    	
 
    
	
Title:
    	
Vice   President & Treasurer
    	
 
    
				

 

Signature Page to Consent and Amendment No. 1 Memorandum

Regeneron Pharmaceuticals, Inc.

 

 

	
REGENERON   HEALTHCARE SOLUTIONS, INC.,
    	
 
    
	
as   a Subsidiary Borrower
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Robert J. Terifay
    	
 
    
	
Name:
    	
Robert J. Terifay
    	
 
    
	
Title:
    	
General   Manager
    	
 
    
				

 

Signature Page to Consent and Amendment No. 1 Memorandum

Regeneron Pharmaceuticals, Inc.

 

 

	
REGENERON   GENETICS CENTER LLC,
    	
 
    
	
as   a Subsidiary Borrower
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Christopher Fenimore
    	
 
    
	
Name:
    	
Christopher   Fenimore
    	
 
    
	
Title:
    	
Manager
    	
 
    
				

 

Signature Page to Consent and Amendment No. 1 Memorandum

Regeneron Pharmaceuticals, Inc.

 

 

	
REGENERON   IRELAND HOLDINGS UNLIMITED COMPANY,
    	
 
    
	
as   a Subsidiary Borrower
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Kerry Reinertsen
    	
 
    
	
Name:
    	
Kerry   Reinertsen
    	
 
    
	
Title:
    	
Director
    	
 
    
				

 

Signature Page to Consent and Amendment No. 1 Memorandum

Regeneron Pharmaceuticals, Inc.

 

 

	
REGENERON   IRELAND UNLIMITED COMPANY,
    	
 
    
	
as   a Subsidiary Borrower
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Niall O’Leary
    	
 
    
	
Name:
    	
Niall   O’Leary
    	
 
    
	
Title:
    	
Vice   President and Site Head for IOPS
    	
 
    
				

 

Signature Page to Consent and Amendment No. 1 Memorandum

Regeneron Pharmaceuticals, Inc.

 

 

	
REGENERON   INTERNATIONAL UNLIMITED COMPANY,
    	
 
    
	
as   a Subsidiary Borrower
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Aaron Ondrey
    	
 
    
	
Name:
    	
Aaron   Ondrey
    	
 
    
	
Title:
    	
Director
    	
 
    
				

 

Signature Page to Consent and Amendment No. 1 Memorandum

Regeneron Pharmaceuticals, Inc.

 

 

	
REGENERON   CAPITAL INTERNATIONAL B.V.,
    	
 
    
	
as   a Subsidiary Borrower
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Carina Helsloot—van Riemsdijk
    	
 
    
	
Name:
    	
Carina   Helsloot—van Riemsdijk
    	
 
    
	
Title:
    	
Director   A
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Leonard N. Brooks
    	
 
    
	
Name:
    	
Leonard   N. Brooks
    	
 
    
	
Title:
    	
Director   B
    	
 
    
				

 

Signature Page to Consent and Amendment No. 1 Memorandum

Regeneron Pharmaceuticals, Inc.

 

 

Schedule A to Consent and Amendment No. 1 Memorandum

 

Amendments to Credit Agreement

 

1.                                      Section 1.01 of the Credit Agreement is hereby amended by adding the following new definitions in the appropriate alphabetical order:

 

“Amendment No. 1” means that certain Consent and Amendment No. 1 Memorandum, dated as of February 2, 2017, among the Company, the Subsidiary Borrowers party thereto, the Lenders party thereto and the Administrative Agent.

 

“Corporate Campus Facility” has the meaning assigned to such term in Amendment No. 1, together with assets related thereto, improvements thereon, replacements and products thereof, additions and accessions thereto or proceeds from the disposition of such property or assets and customary security deposits.

 

“Corporate Campus Facility Financing Documents” means the definitive documentation to which the Company and/or any Subsidiary is a party governing or otherwise evidencing the Corporate Campus Facility Lease Financing (including, if applicable, any participation agreement, lease agreement, other finance documents, related security documents and similar or related agreements or documents), in each case, as amended, restated, supplemented, modified, extended, refinanced, renewed or replaced from time to time.

 

“Corporate Campus Facility Financing Obligations” means all obligations (monetary or otherwise) of the Company and any of its Subsidiaries arising under or in connection with any of the Corporate Campus Facility Financing Documents.

 

“Corporate Campus Facility Lease Financing” has the meaning assigned to such term in Amendment No. 1, as such financing may be amended, restated, supplemented, modified, extended, refinanced, renewed or replaced from time to time.

 

“Corporate Campus Facility Purchase Agreement” means that certain Purchase Agreement, dated as of December 30, 2016, among BMR-Landmark at Eastview LLC and BMR-Landmark at Eastview IV LLC, as the sellers, and the Company, as the buyer, as amended, restated, supplemented or otherwise modified from time to time.

 

“Existing Corporate Campus Facility Leases” means the leases dated as of December 21, 2006 and April 3, 2013, respectively, by and between BMR-Landmark at Eastview LLC, as landlord, and the Company, as tenant, each as amended.

 

“Operating Lease” means any Specified Lease Arrangement or other arrangement that is accounted for as an operating lease for purposes of the Loan Documents pursuant to Section 1.04.

 

“Specified Lease Arrangements” means, to the extent any of the following constitute Capital Lease Obligations (but for the provisions set forth in Section 1.04) or other obligations reflected as a liability on the consolidated balance sheet of the Company, (a)

 

Schedule A-1

Consent and Amendment No. 1 Memorandum

Regeneron Pharmaceuticals, Inc.

 

 

any obligations of the Company and its Subsidiaries owed to any Affiliates of the Company related to leases of assets (whether pursuant to a Sale and Leaseback Transaction or otherwise), (b) any arrangement similar to either of the Existing Corporate Campus Facility Leases (each as in effect immediately prior to the date of the Corporate Campus Facility Purchase Agreement), (c) the Corporate Campus Facility Financing Obligations and (d) any lease or other obligation that was or would have been categorized as “facility lease obligations” or “facility financing obligations” on the Company’s consolidated balance sheet as of the Effective Date.

 

2.                                      Section 1.01 of the Credit Agreement is hereby further amended by amending the definition of “Consolidated Interest Expense” by:

 

(a)         deleting the word “and” immediately prior to the beginning of clause (b)(iii) of such definition; and

 

(b)         inserting the phrase “, and (iv) any interest expense in respect of any Operating Lease, including any interest, yield, rent or break funding payment (or similar obligations) paid or payable pursuant to any Corporate Campus Facility Financing Documents” immediately after the end of clause (b)(iii) of such definition.

 

3.                                      Section 1.01 of the Credit Agreement is hereby further amended by amending the final sentence of the definition of “Indebtedness” by:

 

(a)         deleting the word “and” immediately prior to the beginning of subclause (vi) of the last sentence of such definition and inserting a “,” immediately prior to the beginning of such subclause; and

 

(b)         inserting the phrase “, (vii) the Corporate Campus Facility Financing Obligations and (viii) all obligations of such Person under or relating to any Operating Lease” immediately after the end of subclause (vi) of the last sentence of such definition.

 

4.                                      Section 1.04(a) of the Credit Agreement is hereby amended by restating clause (ii) of such section in its entirety as follows:

 

“(ii) notwithstanding any modification or interpretative change to GAAP after the Effective Date (including without giving effect to any treatment of leases under Accounting Standards Codification 842 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect)), any obligations relating to (x) a lease that was or would have been accounted for by such Person as an operating lease as of the Effective Date, (y) any Specified Lease Arrangements of such Person or (z) any lease or arrangement similar to any of the foregoing entered into after the Effective Date by such Person or an Affiliate thereof, in each case of the foregoing, shall be deemed to be obligations relating to an operating lease and shall not constitute Capital Lease Obligations under the Loan Documents”.

 

Schedule A-2

 

5.                                      Section 6.02 of the Credit Agreement is hereby amended by:

 

(a)         deleting the word “and” at the end of clause (v) of such section;

 

(b)         deleting the “.”at the end of clause (w) of such section and inserting the phrase “; and” at the end of such clause; and

 

(c)          inserting the following new clause (x) at the end of such section:

 

“(x)                                                   Liens on any rights, title or interest of the Company and its Subsidiaries in the Corporate Campus Facility and any related property described as “Collateral” or “Leased Property” (or a similar defined term) in the Corporate Campus Facility Financing Documents (i) to secure any Corporate Campus Facility Financing Obligations or (ii) that are otherwise permitted by the Corporate Campus Facility Financing Documents.”

 

6.                                      Section 6.03(a) of the Credit Agreement is hereby amended by:

 

(a)         deleting the word “and” at the end of subclause (vii) of such section;

 

(b)         deleting the “.”at the end of subclause (viii) of such section and inserting the phrase “; and” at the end of such clause; and

 

(c)          inserting the following new subclause (ix) at the end of such section:

 

“(ix)                                                with respect to any rights, title or interest of the Company and its Subsidiaries in the Corporate Campus Facility and the Corporate Campus Facility Purchase Agreement, leases, subleases, assignments and other transfers pursuant to or permitted by the Corporate Campus Facility Financing Documents, including (A) the assignment by the Company of some or all of its rights under the Corporate Campus Facility Purchase Agreement (including the right to take title to the Corporate Campus Facility) to one or more participants party to the Corporate Campus Facility Financing Documents and (B) the assignment or other transfer by the Company to a directly or indirectly wholly-owned subsidiary as an affiliate transferee pursuant to the Corporate Campus Facility Financing Documents;”

 

7.                                      Section 6.05 of the Credit Agreement is hereby amended by:

 

(a)         deleting the word “and” immediately prior to the beginning of subclause (l) of such section and inserting a “,” immediately prior to the beginning of such subclause; and

 

(b)         inserting the phrase “and (m) with respect to the Corporate Campus Facility, subleases and assignments permitted by the Corporate Campus Facility Financing Documents.”

 

Schedule A-3

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