Document:

Indemnification Agreement

 EXHIBIT 10.15 
 

 
 INDEMNIFICATION AGREEMENT 
 THIS AGREEMENT, made on this 8th day of December, 2006, by and between Biovest International, Inc. (“Biovest”), a Delaware corporation with a place of business at 324 S. Hyde Park Ave., Suite 350, Tampa FL 33606, and Dennis Ryll, with an
address of 2595 Red Springs Drive, Las Vegas, Nevada 89135, (“Guarantor”) is as follows: 
 In consideration of Guarantor performing certain
services for Biovest, to wit, acting as a Guarantor in connection with a New Market Tax Credit loan transaction from U.S. Bank (the “Loan”) to Biovest’s wholly-owned subsidiary, Autovaxid, Inc. (“Autovaxid”) in an aggregate
amount of $1,000,000, Biovest hereby agrees and undertakes to indemnify Guarantor, and to hold Guarantor harmless from and against any and all claims, causes of actions, and liabilities of any kind to the fullest extent permitted by law to the
extent that Guarantor is called upon to pledge and/or advance funds, assets, or collateral in connection with the guarantee being executed by Guarantor in connection with this Loan. 
  

			
	Biovest International, Inc.
		
	By:	 	 /s/ James A. McNulty

		 	 James A. McNulty
 CFO &
Secretary

 324 S. Hyde Park Avenue 
 Suite 350 
 Tampa, FL 33606 
 PH: (813) 864-2554 FAX: (813) 258-6912Indemnification Agreement

 Exhibit 10.16 
 

 
 INDEMNIFICATION AGREEMENT 
 THIS AGREEMENT, made on this 8th day of December, 2006, by and between Biovest International, Inc. (“Biovest”), a Delaware corporation with a place of business at 324 S. Hyde Park Ave., Suite 350, Tampa, FL 33606, and Steven J. Stogel, with
an address of 7777 Bonhomme Ave., Suite 1210, St. Louis, MO 63105, (“Guarantor”) is as follows: 
 In consideration of Guarantor performing
certain services for Biovest, to wit, acting as a Guarantor in connection with a New Market Tax Credit loan transaction from U.S. Bank (the “Loan”) to Biovest’s wholly-owned subsidiary, Autovaxid, Inc. (“Autovaxid”) in an
aggregate amount of $250,000, Biovest hereby agrees and undertakes to indemnify Guarantor, and to hold Guarantor harmless from and against any and all claims, causes of actions, and liabilities of any kind to the fullest extent permitted by law to
the extent that Guarantor is called upon to pledge and/or advance funds, assets, or collateral in connection with the guarantee being executed by Guarantor in connection with this Loan. 
  

			
	Biovest International, Inc.
		
	By:	 	 /s/ James A. McNulty

		 	 James A. McNulty
 CFO &
Secretary

 324 S. Hyde Park Avenue 
 Suite 350 
 Tampa, FL 33606 
 PH: (813) 864-2554 FAX: (813) 258-6912Indemnification Agreement

 Exhibit 10.17 
 

 
 INDEMNIFICATION AGREEMENT 
 THIS AGREEMENT, made on this 8th day of December, 2006, by and between Biovest International, Inc. (“Biovest”), a Delaware corporation with a place of business at 324 S. Hyde Park Ave., Suite 350, Tampa, FL 33606, and Donald Ferguson, with an
address of 11477 Olde Cabin Rd., Suite 110, St. Louis, MO 63141, (“Guarantor”) is as follows: 
 In consideration of Guarantor performing
certain services for Biovest, to wit, acting as a Guarantor in connection with a New Market Tax Credit loan transaction from U.S. Bank (the “Loan”) to Biovest’s wholly-owned subsidiary, Autovaxid, Inc. (“Autovaxid”) in an
aggregate amount of $500,000, Biovest hereby agrees and undertakes to indemnify Guarantor, and to hold Guarantor harmless from and against any and all claims, causes of actions, and liabilities of any kind to the fullest extent permitted by law to
the extent that Guarantor is called upon to pledge and/or advance funds, assets, or collateral in connection with the guarantee being executed by Guarantor in connection with this Loan. 
  

			
	Biovest International, Inc.
		
	By:	 	 /s/ James A. McNulty

		 	 James A. McNulty
 CFO &
Secretary

 324 S. Hyde Park Avenue 
 Suite 350 
 Tampa, FL 33606 
 PH: (813) 864-2554 FAX: (813) 258-6912Indemnification Agreement

 Exhibit 10.18 
 

 
 INDEMNIFICATION AGREEMENT 
 THIS AGREEMENT, made on this 8th day of December, 2006, by and between Biovest International, Inc. (“Biovest”), a Delaware corporation with a place of business at 324 S. Hyde Park Ave., Suite 350, Tampa FL 33606, and Ronald E. Osman, with an
address of 1602 West Kimmel Street, Marion, IL 62959, (“Guarantor”) is as follows: 
 In consideration of Guarantor performing certain
services for Biovest, to wit, acting as a Guarantor in connection with a New Market Tax Credit loan transaction from U.S. Bank (the “Loan”) to Biovest’s wholly-owned subsidiary, Autovaxid, Inc. (“Autovaxid”) in an aggregate
amount of $1,000,000, Biovest hereby agrees and undertakes to indemnify Guarantor, and to hold Guarantor harmless from and against any and all claims, causes of actions, and liabilities of any kind to the fullest extent permitted by law to the
extent that Guarantor is called upon to pledge and/or advance funds, assets, or collateral in connection with the guarantee being executed by Guarantor in connection with this Loan. 
  

			
	Biovest International, Inc.
		
	By:	 	 /s/ James A. McNulty

		 	 James A. McNulty,
 CFO &
Secretary

 324 S. Hyde Park Avenue 
 Suite 350 
 Tampa, FL 33606 
 PH: (813) 864-2554 FAX: (813) 258-6912Indemnification Agreement

 Exhibit 10.19 
 

 
 INDEMNIFICATION AGREEMENT 
 THIS AGREEMENT, made on this 8th day of December, 2006, by and between Biovest International, Inc. (“Biovest”), a Delaware corporation with a place of business at 324 S. Hyde Park Ave., Suite
350, Tampa FL 33606, and Francis E. O’Donnell Jr., M.D., Hopkins Capital Group II, LLC and The O’Donnell Irrevocable Trust with an address of 709 The Hamptons Lane, Town and Country, MO 63017, (“Guarantor”) is as follows:

 In consideration of Guarantor performing certain services for Biovest, to wit, acting as a Guarantor in connection with a New Market Tax Credit loan
transaction from U.S. Bank (the “Loan”) to Biovest’s wholly-owned subsidiary, Autovaxid, Inc. (“Autovaxid”) in an aggregate amount of $1,150,000, Biovest hereby agrees and undertakes to indemnify Guarantor, and to hold
Guarantor harmless from and against any and all claims, causes of actions, and liabilities of any kind to the fullest extent permitted by law to the extent that Guarantor is called upon to pledge and/or advance funds, assets, or collateral in
connection with the guarantee being executed by Guarantor in connection with this Loan. 
  

			
	Biovest International, Inc.
		
	By:	 	 /s/ James A. McNulty

		 	 James A. McNulty
 CFO &
Secretary

 324 S. Hyde Park Avenue 
 Suite 350 
 Tampa, FL 33606 
 PH: (813) 864-2554 FAX: (813) 258-6912Indemnification Agreement

 Exhibit 10.20 
 

 
 INDEMNIFICATION AGREEMENT 
 THIS AGREEMENT, made on this 8th day of December, 2006, by and between Biovest International, Inc. (“Biovest”), a Delaware corporation with a place of business at 324 S. Hyde Park Ave., Suite 350, Tampa, FL 33606, and Alan Pearce, with an
address of 324 S. Hyde Park Ave., Suite 350, Tampa, FL 33606, (“Guarantor”) is as follows: 
 In consideration of Guarantor performing
certain services for Biovest, to wit, acting as a Guarantor in connection with a New Market Tax Credit loan transaction from U.S. Bank (the “Loan”) to Biovest’s wholly-owned subsidiary, Autovaxid, Inc. (“Autovaxid”) in an
aggregate amount of $500,000, Biovest hereby agrees and undertakes to indemnify Guarantor, and to hold Guarantor harmless from and against any and all claims, causes of actions, and liabilities of any kind to the fullest extent permitted by law to
the extent that Guarantor is called upon to pledge and/or advance funds, assets, or collateral in connection with the guarantee being executed by Guarantor in connection with this Loan. 
  

			
	Biovest International, Inc.
		
	By:	 	 /s/ James A. McNulty

		 	 James A. McNulty
 CFO &
Secretary

 324 S. Hyde Park Avenue 
 Suite 350 
 Tampa, FL 33606 
 PH: (813) 864-2554 FAX: (813) 258-6912Indemnification Agreement

 Exhibit 10.21 
 

 
 INDEMNIFICATION AGREEMENT 
 THIS AGREEMENT, made on this 8th day of December, 2006, by and between Biovest International, Inc. (“Biovest”), a Delaware corporation with a place of business at 324 S. Hyde Park Ave., Suite 350, Tampa, FL 33606, and Steven Arikian, with an
address of 151 Beach 147th, Neponsit, NY 11694, (“Guarantor”) is as follows: 
 In consideration of Guarantor performing certain services for Biovest, to wit, acting as a Guarantor in connection with a New Market Tax Credit loan transaction from U.S.
Bank (the “Loan”) to Biovest’s wholly-owned subsidiary, Autovaxid, Inc. (“Autovaxid”) in an aggregate amount of $50,000, Biovest hereby agrees and undertakes to indemnify Guarantor, and to hold Guarantor harmless from and
against any and all claims, causes of actions, and liabilities of any kind to the fullest extent permitted by law to the extent that Guarantor is called upon to pledge and/or advance funds, assets, or collateral in connection with the guarantee
being executed by Guarantor in connection with this Loan. 
  

			
	Biovest International, Inc.
		
	By:	 	 /s/ James A. McNulty

		 	 James A. McNulty
 CFO &
Secretary

 324 S. Hyde Park Avenue 
 Suite 350 
 Tampa, FL 33606 
 PH: (813) 864-2554 FAX: (813) 258-6912Subscription Agreement

 Exhibit 10.27 
 SUBSCRIPTION AGREEMENT 
 1. SUBSCRIPTION. Pursuant to Rule 506 of Regulation D under the Securities Act
of 1933, as amended (the “Securities Act”), the St. Louis Development Corporation (“SLDC”) hereby purchases Three Hundred Twenty-Six Thousand and Ninety-Eight (326,098) shares of common stock (the “Stock”) of
Biovest International, Inc (the “Company”) at a purchase price of $1.10 per Share for a total purchase price of $358,707.80 (the “Purchase Price”). 
 2. REPRESENTATIONS AND WARRANTIES.  
 (a) SLDC acknowledges that the Stock has not been
registered under the Securities Act of 1933, as amended, or under any state securities laws, and represents and warrants to the Company as follows: 
 (i) It is a non-profit corporation duly organized and validly existing under the laws of the State of Missouri, with a principal place of business in the State of Missouri, and has full power and authority to acquire and own its interest in
the Stock in accordance with the terms of this Agreement; 
 (ii) It is acquiring the Stock of the Company for investment and not with a view
for resale or distribution of the Shares; 
 (iii) It agrees that the right to transfer the Stock is restricted in accordance with state and
federal securities laws; 
 (iv) The per-share purchase price of the Stock was established by negotiation between the Company and SLDC and
SLDC acknowledges that it may experience substantial dilution to its investment and can afford a complete loss of such investment; 
 (v)
SLDC is able and prepared to bear the economic risk of investing in and holding the Stock, and has such knowledge and experience in business and financial matters as to be capable or evaluating the risks and merits of an investment in the Stock
based on the Company’s public securities filings; 
 (vi) SLDC is (A) a non-profit corporation duly organized and validly existing
under the laws of the State of Missouri with total assets as of the date hereof in excess of $5,000,000, and (B) was not formed for the purpose of acquiring the Stock; and 
 (vii) SLDC has relied upon its own independent investigation in connection with the purchase of the Stock and SLDC has had access to all books and
records of the Company and had a chance to review all applicable public filings made by the Company with the SEC. 
 (b) The Company
represents and warrants to SLDC as follows: 
 (i) The Company is a corporation duly organized, validly existing and in good standing under
the laws of the State of Delaware; 
 (ii) The Company has all requisite legal and corporate power (A) to execute and deliver this
Agreement, (B) to sell and issue the Shares hereunder, and (C) to carry out and perform its obligations under the terms of this Agreement; and 
 (iii) The Stock, when issued, sold and delivered in accordance with the terms hereof for the consideration expressed herein, will be duly and validly issued, fully paid, non assessable and free of any liens or
encumbrances and free of restrictions on transfer other than restrictions on transfer under this Agreement and applicable state and federal securities laws. 

 3. RESTRICTIVE LEGENDS. SLDC acknowledges that the Stock has not been registered under the Securities Act
or under any state securities laws and may only be transferred pursuant to an applicable exemption from the registration requirements of the Securities Act and state securities laws, and the Company has no obligation to register the Stock under the
Securities Act or state securities laws. In furtherance thereof, SLDC acknowledges that the certificates representing the Stock shall bear the following legend: 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, ASSIGNED OR TRANSFERRED
EXCEPT PURSUANT TO (I) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (II) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT, OR (III) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN
EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE. 
 4. AMENDMENT OR WAIVER. No provision of this Subscription Agreement may be waived or
amended except in a written instrument signed by the Borrower and the Lender. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of
any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right. 
 5. ENTIRE AGREEMENT. This Subscription Agreement contains the entire understanding of the parties with respect to the subject matter hereof and supersedes
all prior agreements, understandings, discussions and representations, oral or written, with respect to such matters. 
 6. SUCCESSORS AND
ASSIGNS. This Subscription Agreement shall be binding upon and inure to the benefit of the Company, SLDC and their successors and permitted assigns. Neither party hereto may assign this Agreement or any rights or obligations hereunder
without the prior written consent of the other party. 
 7. GOVERNING LAW. This Subscription Agreement shall be governed by and construed and
enforced in accordance with the internal laws of the State of Delaware, without regard to the principles of conflicts of law thereof. 
 [Remainder of Page Intentionally Left Blank] 
  

 - 2 - 

 IN WITNESS WHEREOF, the parties execute this Agreement for good and valuable consideration in hand
received set their hand and seal as of this 8th day of December 2006. 
  

									
	Biovest International, Inc.	 		  	St. Louis Development Corporation
					
	By:	 	 /s/ Steven Arikian
	 		  	By:	 	 /s/ Rodney Crim

	Name:	 	Steven Arikian, M.D.	 		  		 	Rodney Crim
	Title:	 	Chairman & CEO	 		  		 	Executive Director

 Subscription Agreement Signature Page

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