Document:

Exhibit 10.1

 

PROMISSORY
NOTE

 

	Principal	 	Loan
    Date	 	Maturity	 	Loan
    No	 	Call/
    Coll	 	Account	 	Initials
	$
    390,820.0 0	 	04-28-2020	 	04-28-2022	 	-	 	4A
    / 310	 	-	 	 

 

References
in the boxes above are for Lender’s use only and do not limit the applicability of this document to any particular loan
or item.

Any item above containing “***” has been omitted due to text length limitations,

 

	Borrower:	SINTX
        Technologies, Inc

        18
        85 W 21 00 S

        Salt
        Lake City, UT 84119
	Lender:	First
        State Community Bank

        Columbia
        Branch

        300
        Diego Drive

        Columbia,
        MO 65203

 

 

	Principal
    Amount: $390,820.00	Date
    of Note: April 28, 2020

 

PROMISE
TO PAY. SINTX Technologies, Inc (“Borrower”) promises to pay to First State Community Bank (“
Lender”) , or order, In lawful money of the United States of America, the principal amount of Three
Hundred Ninety Thousand Eight Hundred Twenty & 00/10 0 Dollars ($390,820.00), together with Interest on the
unpaid principal balance from April 28, 2020, calculated as described In the “INTEREST CALCULATION METHOD”
paragraph using an interest rate of 1.000% per annum based on a year of 360 days, until paid in
full. The interest rate may change under the terms and conditions of the “INTEREST AFTER DEFAULT”
section.

 

PAYMENT.
Borrower will pay this loan in 18 payments of $21,998.10 each payment. Borrower’s first payment Is due
November 28, 2020, and all subsequent payments are due on the same day of each month after that. Borrower’s
final payment will be due on April 28, 2022, and will be for all principal and all accrued interest not yet
paid. Payments Include principal and Interest. Unless otherwise agreed or required by applicable law,
payments will be applied first to any escrow or reserve account payments as required under any mortgage,
deed of trust, or other security Instrument or security agreement securing this Note; then to any accrued unpaid
Interest; then to principal; and then to any late charges. Borrower will pay Lender at Lender’s address
shown above or at such other place as Lender may designate in writing.

 

INTEREST
CALCULATION METHOD. Interest on this Note is computed on a 365/360 basis; that is, by applying the ratio
of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by
the actual number of days the principal balance Is outstanding. All Interest payable under this Note Is computed
using this method. This calculation method results in a higher effective interest rate than the numeric
Interest rate stated in this Note.

 

PREPAYMENT.
Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless
agreed to by Lender in writing, relieve Borrower of Borrower’s obligation to continue to make payments under the payment
schedule. Rather, early payments will reduce the principal balance due and may result in Borrower’s making fewer payments.
Borrower agrees not to send Lender payments marked “paid in full “, “without recourse”, or similar language.
If Borrower sends such a payment, Lender may accept it without losing any of Lender’s rights under this Note, and Borrower
will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts,
including any check or other payment instrument that Indicates that the payment constitutes “ payment In full “ of
the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be
mailed or delivered to: First State Community Bank , Columbia Branch, 300 Diego Drive, Columbia, MO 65203.

 

LATE
CHARGE. If a payment is more than 15 days late, Borrower will be charged 5.000 % of the regularly scheduled payment or $50.00,
whichever is greater.

 

INTEREST
AFTER DEFAULT. Upon default, including failure to pay upon final maturity, the interest rate on this Note shall be increased by
5.000 percentage points. However, in no event will the interest rate exceed the maximum interest rate limitations under applicable
law,

 

DEFAULT.
Each of the following shall constitute an event of default (“Event of Default”) under this Note:

 

Payment Default.
Borrower fails to make any payment when due under this Note,

 

Other
Default s. Borrower fails to comply with or to perform any other term, obligation, covenant or condition contained in this Note
or in any of the related documents or to comply with or to perform any term, obligation, covenant or condition contained in any
other agreement between Lender and Borrower.

 

Default
In Favor of Third Parties. Borrower or any Granter defaults under any loan, extension of credit. security agreement, purchase
or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower’s
property or Borrower’s ability to repay this Note or perform Borrower’s obligations under this Note or any of the
related documents.

 

    	 

    	 

    

 

PROMISSORY
NOTE

(Continued)

	Loan No: -	Page
    2

 

 

False
Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf
under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished
or becomes false or misleading at any time thereafter.

 

Insolvency.
The dissolution or termination of Borrower’s existence as a going business, the insolvency of Borrower, the appointment
of a receiver for any part of Borrower’s property, any assignment for the benefit of creditors, any type of creditor workout,
or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower,

 

Creditor
or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession
or any other method, by any creditor of Borrower or by any governmental agency against any collateral securing the loan. This
includes a garnishment of any of Borrower’s accounts, including deposit accounts, with Lender. However, this Event of Default
shall not apply if there is a good faith dispute by Borrower as to the validity or reasonableness of the claim which is the basis
of the creditor or forfeiture proceeding and if Borrower gives Lender written notice of the creditor or forfeiture proceeding
and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender,
in its sole discretion, as being an adequate reserve or bond for the dispute.

 

Events
Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party
of any of the indebtedness or any guarantor, endorser, sure ty, or accommodation party dies or becomes incompetent, or revokes
or disputes the validity of, or liability under, any guaranty of the indebtedness evidenced by this Note.

 

Change
In Ownership. Any change in ownership of twenty-five percent (25%) or more of the common stock of Borrower,

 

Adverse
Change. A material adverse change occurs in Borrower’s financial condition, or Lender believes the prospect of payment or
performance of this Note is impaired

 

Insecurity.
Lender in good faith believes itself insecure.

 

LENDER’S
RIGHTS. Upon default, Lender may declare the entire unpaid principal balance under this Note and all accrued unpaid interest immediately
due, and then Borrower will pay that amount.

 

ATTORNEYS’
FEES; EXPENSES. Lender may hire or pay someone else to help collect this Note if Borrower does not pay, Borrower will pay Lender
that amount. This includes, subject to any limits under applicable law, Lender’s attorneys’ fees and Lender’s
legal expenses whether or not there is a lawsuit, including attorneys’ fees and expenses for bankruptcy proceedings (including
efforts to modify or vacate any automatic stay or injunction), and appeals, If not prohibited by applicable law, Borrower also
will pay any court costs, in addition to all other sums provided by law.

 

GOVERNING
LAW. This Note will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws
of the State of Missouri without regard to its conflicts of law provisions. This Note has been accepted by Lender in the State
of Missouri.

 

CHOICE
OF VENUE. If there is a lawsuit, Borrower agrees upon Lender’s request to submit to the jurisdiction of the courts of Boone
County, State of Missouri.

 

DISHONORED
ITEM FEE. Borrower will pay a fee to Lender of $31.50 if Borrower makes a payment on Borrower’s loan and the check or preauthorized
charge with which Borrower pays is later dishonored.

 

RIGHT
OF SETOFF. To the extent permitted by applicable law, Lender reserves a right of setoff in all Borrower’s accounts with
Lender (whether checking, savings, or some other account). This includes all accounts Borrower holds jointly with someone else
and all accounts Borrower may open in the future How eve r, this does not include any IRA or Keogh accounts, or any trust accounts
for which setoff would be prohibited by law. Borrower authorizes Lender, to the extent permitted by applicable law. to charge
or setoff all sums owing on the debt against any and all such accounts, and, at Lender’s option, to administratively freeze
all such accounts to allow Lender to protect Lender’s charge and setoff rights provided in this paragraph.

 

    	 

    	 

    

 

PROMISSORY
NOTE

(Continued)

	Loan No: -	Page
    3

 

 

ADDITIONAL
TERMS CLAUSE. Notwithstanding the oral agreements clause below, in addition to the terms contained in this document It is
also agreed that the terms of any documents pursuant to which the loan is made or which secures the loan are also binding on the
undersigned.

 

SUCCESSOR
INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower’s heirs, personal representatives,
successors and assigns, and shall Inure to the benefit of Lender and its successors and assigns.

 

GENERAL
PROVISIONS. If any part of this Note cannot be enforced, this fact will not affect the rest of the Note. lender may delay
or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs,
guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor.
Upon any change in the terms of this Note, and unless otherwise expressly stated In writing, no party who signs this Note, whether
as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that lender may
renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair,
fail to realize upon or perfect Lender’s security interest in the collateral: and take any other action deemed necessary
by Lender without the consent of or notice to anyone. All such parties also agree that lender may modify this loan without the
consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint
and several.

 

ORAL
OR UNEXECUTED AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO
FORBEAR FROM ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW
SUCH DEBT ARE NOT ENFORCEABLE, REGARDLESS OF THE LEGAL THEORY UPON WHICH IT
IS BASED THAT IS IN ANY WAY RELATED TO THE CREDIT AGREEMENT. TO PROTECT YOU (BORROWER(S))
AND US (CREDITOR) FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS
WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE
AGREEMENT Between US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT.

 

JURY
WAIVER. Lender and Borrower hereby waive the right to any jury trial In any action, proceeding, or counterclaim brought
by either Lender or Borrower against the other.

 

PRIOR
TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE
PROVISIONS OF THIS NOTE. BORROWER AGREES TO
THE TERMS OF THE NOTE.

 

BORROWER
ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE.

 

	BORROWER:	 
	 	 	 
	SINTX TECHNOLOGIES, INC	 
	 	 	 
	By:	 	 
	 	Dr. Bhajanjit S. Bal, Chief Executive Officer
    of SINTIC Technologies, IncExhibit

EXHIBIT 10.1

Certain identified information has been marked in the exhibit because it is both (i) not material and (ii) would likely cause competitive harm to the Company, if publicly disclosed. 
Double asterisks denote omissions.

SECOND AMENDMENT TO LEASE AGREEMENT
This Second Amendment (“Second Amendment”) to the Lease Agreement ( “Lease”) is
made on this 25th day of March 2020 by and between BRISTOL-MYERS SQUIBB COMPANY, a Delaware corporation, having an office at 3551 Lawrenceville Princeton Road, Princeton, New Jersey 08540 (“Landlord”), and PTC THERAPEUTICS, INC., a Delaware Corporation, having an office at 100 Corporate Court, South Plainfield, NJ 07080-2449 (“Tenant”).
WHEREAS, Landlord and Tenant entered into a certain Lease dated August 3, 2019 pursuant to which Landlord agreed to lease to Tenant and Tenant agreed to lease from Landlord a portion of 311 Pennington Rocky Hill Road, Hopewell Township, Mercer County, New Jersey, designated in the Lease as the Premises and further described in Exhibit A to the Lease; and
WHEREAS, Landlord and Tenant entered into a certain First Amendment to Lease Agreement dated October 7, 2019 (“First Amendment”) whereby the terms of the Lease were amended to change the definition of Controllable CAM Expenses set forth in Section 4.2(a)(iii) and to incorporate the Letter of Credit issued by HSBC Bank USA, N.A. as an exhibit to the Lease in connection with Section 39(a) of the Lease (hereinafter the term “Lease” will refer to the original Lease as modified by the First Amendment); and
WHEREAS, Tenant has not yet taken occupancy of the Premise; and
WHEREAS, Landlord and Tenant have agreed to further amend the Lease to change the size and location of a portion of the Premises by providing that Tenant will no longer lease Building 13, consisting of [**] Rentable Square Fee (“RSF”) and but will instead lease Buildings 3A, 3B and 5, consisting of [**] RSF; and
WHEREAS, this Second Amendment is executed by Landlord and Tenant to memorialize the change in the Premises by the substitution of Buildings 3A, 3B and 5 for Building 13 and to address the other modifications to the Lease necessitated by this change.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant agree to amend the Lease as follows:
1.The WHEREAS clauses set forth above are incorporated into this Second Amendment by reference.
2.In Section 1.2, the description of the Premises is amended to remove the reference to “Building 13” in Section 1.2(c) and replace it with “Buildings 3A, 3B and 5”.
3.In Section 1.3, the total rentable area of the Premises is changed from 183,667 RSF to 220,517 RSF. Section 1.3.c. is removed and replaced as follows:
c.    Building 3A, 3B and 5    [**] RSF
4.Section 1.7.c is removed and replaced as follows:

1

		
	c.
	For Buildings 3A, 3B and 5, the Base Rent Commencement Date shall be six (6) months after the Commencement Date.

5.    Section 1.9.c is removed and replaced as follows:
c.    Buildings 3A, 3B and 5: $[**] per RSF on a triple net basis (NNN).
6.    In Section 1.15, all reference to Landlord’s Base Building Work in connection with Building 13 is deleted. The only Landlord’s Base Building Work that will be completed by Landlord in connection with Buildings 3A, 3B and 5 is the installation of a submeter for Utilities as required pursuant to Section 12.5(a) of the Lease.
7.    In Section 1.17, the first sentence is removed and replaced as follows:
On the Commencement Date of this Lease, the “Tenant’s Share” is Nineteen and Eighty-Eight One Hundredths Percent (19.88%) which represents the RSF of the Premises (220,517 square feet, subject to the terms of Section 2.2), calculated as a percentage of the aggregate rentable area of the buildings located within the CAM Area of the Campus (see Section 2.3 below and Exhibit D). 
8.    Section 1.18 is amended to state that the total number of parking spaces allocated to Tenant is increased from 360 to 434. Section 1.18(a) through (e) are removed and replaced as set forth below to provide the allocation of the parking spaces, which spaces are shown on the replacement Exhibit E attached to this Second Amendment:
(a)    [**] spaces, including [**] handicapped spaces, shall be allocated exclusively to Tenant, comprising all of Parking Area 1 adjacent to Buildings 9 and 10.
(b)    [**] spaces shall be allocated exclusively to Tenant in Parking Area 2.
(c)    [**] spaces shall be allocated exclusively to Tenant in Parking Area
6.
(d)    [**] spaces shall be allocated exclusively to Tenant in Parking Area
7.
(e)    [**] spaces shall be allocated exclusively to Tenant in Parking Area 8. 
(f)    The remaining [**] spaces shall be unassigned and unreserved spaces allocated to Tenant in Parking Areas 3, 4, 5, and 9. 
9.    In Section 2.2(i), the RSF for the Premises Buildings is changed from 183,667 RSF to 220,517 RSF.
2

10.In Section 2.4, the total number of parking spaces comprising “Tenant’s Parking” is increased from [**] to [**]. The following sentences are added to the end of the last paragraph of Section 2.4:
As set forth in Section 1.18, Tenant shall also have exclusive rights to certain parking areas in Parking Area 6, Parking Area 7 and Parking Area 8 as shown on Exhibit E. Tenant may not install gates in these parking areas but may install such signage as it deems reasonable necessary to ensure that this parking is retained for the exclusive use of Tenant.
11.In Section 2.5(a), add the following sentence after the first sentence: “All fixed hoods and chambers, and furniture, laboratory benches, freezers and related equipment located in Buildings 3A, 3B and 5 shall be delivered to Tenant with the Premises and shall be considered “FF&E under this Lease, but not “Exception Equipment”.
12.In Section 4.2(a)(iii), all references to “calendar year” shall be changed to “Lease Year.”
13.In Section 11.3(a), the first sentence is replaced as follows:
“Tenant’s Share is Nineteen and Eighty-Eight One Hundredths Percent (19.88%), which figure is calculated based upon Tenant’s proportionate share of the Rentable Area of the Premises (approximately 220,517 square feet, subject to the terms of Section 2.2) as a percentage of the aggregate rentable area of the buildings located in both the CAM Area and the CAM Exclusion Area of the Campus.”
14.The first sentence of Section 12.7 is replaced as follows: “Buildings 3A/3B/5 and 18 have existing diesel back-up generators (the “Existing Generators”) that provide back-up power solely to those buildings.” It is the intent of this provision that Tenant will be responsible for the existing diesel back-up generator serving Building 3A/3B/5 instead of the existing diesel back-up generator serving Building 13. A second paragraph is added to Section 12.7 as follows:
Landlord will conduct testing of the generators for Building 9/10 in accordance with good industry practices and is currently conducting testing on a monthly basis. Landlord agrees to provide Tenant the results of Landlord’s testing of the generators that service Building 9/10 within thirty (30) days of the completion of said testing. Landlord and Tenant agree and acknowledge that Tenant must submit the generator testing results for these buildings Building 9/10 to the Food and Drug Administration (“FDA”) on a periodic basis and that if additional testing is required to satisfy FDA requirements and Landlord, after reasonable notice from Tenant, does not agree to undertake said testing, Tenant may undertake said testing at its own cost. Copies of the results of the testing, if undertaken by Tenant, will be submitted to Landlord within thirty (30) days of the completion of said testing.
15.The phrase “modify Tenant’s exclusive parking in Parking Area 1 and Parking Area 3 or reduce Tenant’s parking in Parking Area 2 and Parking Area 3 more than to a de minimis extent” in clause (i) of Section 26(d) is replaced with “modify Tenant’s exclusive parking in Parking Area 1 and Parking Area 2 or reduce Tenant’s parking in Parking Area 3, Parking Area 4, Parking Area
3

5, Parking Area 6, Parking Area 7, Parking Area 8 and Parking Area 9 more than to a de minimis extent”.
16.The phrase “one (1) sign on the parapet wall of each of Buildings 9, 10, 13 and 18 (the “Building Exterior Signage”)” in clause (i) of Section 40(a) is replaced with “one (1) sign on the parapet wall of each of Buildings 3A, 3B, 5, 9, 10 and 18 (the “Building Exterior Signage”)”. 
17.The Schedules and Exhibits to the Lease are amended as follows:
		
	a.
	Schedule I (Rent Schedule) is replaced with the revised Schedule I attached hereto.

		
	b.
	Exhibit A (Campus and Premises Site Map) is replaced with the revised Exhibit A attached hereto.

		
	c.
	Exhibit D (CAM Inclusion and Exclusion Area) is revised to remove and replace the chart showing the calculation of Tenant’s Share attached hereto. The CAM Inclusion and Exclusion Area remains unchanged.

		
	d.
	Exhibit E (Parking Plan) is replaced with the revised Exhibit E attached hereto.

		
	e.
	Exhibit J (Initial Tenant Improvements) is amended to delete all reference to Initial Tenant Improvements to Building 13. No revised Exhibit J is attached hereto.

		
	f.
	Exhibit K (Utility Services Terms) is amended to replace Schedule A to that exhibit with the revised Schedule A attached hereto.

		
	g.
	Exhibit M (Existing Telecommunication Systems Wiring and Conduits) is replaced with the revised Exhibit M attached hereto.

		
	h.
	Exhibit N (Pass-Through Utilities) is amended delete all reference to Building 13 as set forth in the revised Exhibit N attached hereto.

		
	i.
	Exhibit T (Building 13, 17 & 21 Elevation) is deleted from the lease because none of the referenced buildings (13, 17 & 21) will be leased to Tenant.

18.Tenant shall have access to the loading dock and lavatory located in Building 18 as shown on Schedule A attached to this Amendment on a twenty four (24) hour per day, seven (7) day per week basis. Landlord shall be responsible for the maintenance and repair of such loading dock and lavatory.
19.This Second Amendment may be executed in one or more counterparts, which shall be deemed an original, and all of which together shall be deemed one and the same instrument. A facsimile or pdf transmission of an original signature shall be deemed an original signature.
20.Except as modified hereby, all terms of the Lease remain in full force and effect. In the event of a conflict between the terms of the Lease and this Second Amendment, the terms of this Second Amendment shall prevail.
4

[SIGNATURE PAGE TO FOLLOW]

5

IN WITNESS WHEREOF, Landlord and Tenant, intending to be legally bound, execute this First Amendment as of the dates set forth below.
LANDLORD:
BRISTOL-MYERS SQUIBB COMPANY, a Delaware corporation
By: /s/ Bruce K. Mayer     
Name: Bruce K. Mayer
Title: Head Global Real Estate
TENANT:
PTC THERAPEUTICS, INC., a Delaware corporation
By: /s/ Mark Boulding     
Name: Mark Boulding
Title: Chief Legal Officer and Executive Vice President

6

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