Document:

Exhibit
10.24

 

PROMISSORY
NOTE

 

	$89,658
    CAD	Dec
    15, 2014

 

FOR
VALUE RECEIVED, the undersigned, Canadian Cannabis Corp., a corporation organized under the laws of the Province of
Ontario, located at 100 Rutherford Road South Brampton, ON, Canada (the “Maker”), promises to pay to the order of
Scott Keevil, a Province of Ontario Resident, located at 3073 Seneca Drive, Oakville, ON, (hereinafter referred to as “Payee”;
Payee, and any successor holder(s) hereof from time to time, being hereinafter referred to as “Holder”), at such place
as Holder may designate to Maker in writing from time to time, the principal sum of EIGHTY NINE THOUSAND SIX HUNDRED FIFTY
EIGHT and NO/100 CANADIAN DOLLARS (CAD $89,658), together with interest thereon, at the rate hereinafter set forth, in lawful
money of Canada, which shall at the time of payment be legal tender in payment of all debts and dues, public and private, such
principal and interest to be paid in the following manner, to-wit:

 

1.            Interest;
Payments; Maturity. Interest shall accrue at the rate of 0 percent (0%) (the “Applicable Rate”) and shall compound
annually. Interest and principal shall be paid upon the occurrence of certain events, as follows:

 

		(a)	Upon
                                         sufficient capitalization of the Company.

 

This
Note shall mature, if not sooner paid in full, and all principal and accrued interest shall be due and paid in full in a balloon
payment on the date that is sixty (60) days after the date of this agreement as set forth above.

 

2.            Prepayment.
This Note may be prepaid in whole or in part at any time without penalty. Any partial prepayment shall be applied first to interest
and the remaining balance of such payment, if any, to principal.

 

3.            Usury
Laws. If for any circumstances whatsoever fulfillment of any provision of this Note at the time performance of such provision
shall be due, shall involve transcending the limit of validity presently prescribed by any applicable usury statute or any other
applicable law, with regard to obligations of like character and amount, then, ipso facto, the obligation to be fulfilled shall
be reduced to the limit of such validity, so that in no event shall any exaction be possible under this Note or under any other
instrument evidencing or securing the indebtedness evidenced hereby, that is in excess of the current limit of such validity,
but such obligation shall be fulfilled to the limit of such validity.

 

4.            Events
of Default. Each of the following shall be deemed to constitute an “Event of Default” hereunder:

 

		(a)	Failure
                                         to Pay. The nonpayment when due of any interest or principal as provided in this
                                         Note if any such nonpayment shall not be cured within ten (10) days of the date when
                                         due;

 

     

     

    

 

		(b)	Voluntary
                                         Bankruptcy or Insolvency Proceedings. Maker shall (i) apply for or consent to
                                         the appointment of a receiver, trustee, liquidator or custodian of itself or of all or
                                         a substantial part of its property, or voluntarily terminate operations, (ii) make a
                                         general assignment for the benefit of any of its creditors, (iii) be dissolved or liquidated
                                         in full or in part, (iv) commence a voluntary case or other proceeding seeking liquidation,
                                         reorganization or other relief with respect to itself or its debts under any bankruptcy,
                                         insolvency or other similar law now or hereafter in effect or consent to any such relief
                                         or to the appointment of or taking possession of its property by any official in an involuntary
                                         case or other proceeding commenced against it, (v) admit in writing its inability to
                                         pay debts as the debts become due, or (vi) take any action for the purpose of effecting
                                         any of the foregoing; or

 

		(c)	Involuntary
                                         Bankruptcy or Insolvency Proceedings. Proceedings for the appointment of a receiver,
                                         trustee, liquidator or custodian of the Maker of all or a substantial part of the property
                                         thereof, or an involuntary case or other proceedings seeking liquidation, reorganization
                                         or other relief with respect to the Maker or the debts thereof under any bankruptcy,
                                         insolvency or other similar law now or hereafter in effect shall be commenced and an
                                         order for relief entered, or such case or proceeding shall not be dismissed or discharged
                                         within 20 days of commencement.

 

5.            Remedies.
Upon the occurrence of an Event of Default, at the option and upon the written declaration of the Holder (or automatically without
such declaration if an Event of Default set forth in Section 4(c) occurs), and without demand or notice of any kind, the principal
indebtedness evidenced hereby, together with all unpaid interest accrued thereon, shall at once become due and payable and may
be collected forthwith, regardless of the stipulated date of maturity. 

 

6.            Default
Interest. Interest shall accrue on the outstanding principal balance of this Note from the date of any Event of Default hereunder
and for so long as such Event of Default continues, regardless of whether or not there has been an acceleration of the indebtedness
evidenced hereby as set forth herein, at the rate which is the lower of the highest applicable rate permitted by law or sixteen
percent (16.0%) per annum in excess of the Applicable Rate at the time of such Event of Default. All such interest shall be paid
at the time of and as a condition precedent to the curing of any such Event of Default should Holder, at its sole option, allow
such Event of Default to be cured. In the event this Note, or any part thereof, is collected by or through an attorney-at-law,
Maker agrees to pay all costs of collection including reasonable attorney's fees.

 

7.            Time
is of the Essence. Time is of the essence with respect to all of Maker’s obligations and agreements under this Note.

 

    	Page
                                         2
                                         of 4.	 	 

     

    

 

8.            Delay;
Waiver. Presentment for payment, demand, protest and notice of demand, notice of dishonor and notice of nonpayment and all
other notices not expressly set forth are hereby waived by Maker. No failure to accelerate the debt evidenced hereby by reason
of default hereunder, acceptance of a past due installment, or indulgences granted from time to time shall be construed (i) as
a novation of this Note or as a restatement of the indebtedness evidenced hereby or as a waiver of such right of acceleration
or of the right of Holder thereafter to insist upon strict compliance with the terms of this Note, or (ii) to prevent the exercise
of such right of acceleration or any other right granted hereunder or by applicable law; and Maker hereby expressly waives the
benefit of any statute or rule of law or equity now provided, or which may hereafter be provided, which would produce a result
contrary to or in conflict with the foregoing. No extension of the time for the payment of this Note or any installment due hereunder,
made by agreement with any person now or hereafter liable for the payment of this Note shall operate to release, discharge, modify,
change or affect the original liability of Maker under this Note, either in whole or in part unless Holder agrees otherwise in
writing. This Note may not be changed orally, but only by an agreement in writing signed by the party against whom enforcement
of any waiver, change, modification or discharge is sought.

 

Maker
hereby waives and renounces for itself, its heirs, successors and assigns, all rights to the benefits of any statute of limitations
any moratorium, reinstatement, marshaling, forbearance, valuation, stay, extension, redemption, appraisement and exemption now
provided, or which may hereafter be provided, by the Constitution and laws of the United States of America and of any state thereof,
against the enforcement and collection of the obligations evidenced by this Note. Maker hereby transfers, conveys and assigns
to Holder a sufficient amount of such homestead or exemption as may be set apart in bankruptcy, to pay this Note in full, with
all costs of collection, and does hereby direct any trustee in bankruptcy having possession of such homestead or exemption to
deliver to Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced hereby, or any
renewal thereof, and does hereby appoint Holder the attorney-in-fact for Maker to claim any and all homestead exemptions allowed
by Law.

 

9.            Notices.
Except as otherwise specified herein, all notices and other communications under this Note shall be in writing and shall be deemed
to have been given if personally delivered or if sent by registered or certified United States mail, return receipt requested,
postage prepaid, addressed to (i) Holder at the address set forth in the preamble of this Note, Attn: Joao (John) Esteireiro,
or (ii) Maker at the address set forth in the preamble of this Note, Attn: Benjamin Ward, President & CEO, with a copy, which
shall not constitute notice, to H. Grady Thrasher IV, 5 Concourse Parkway, Suite 2600, Atlanta, Georgia 30328. Either party may
designate any other address to which notices shall be sent by giving notice of the address to the other party in the same manner
as provided therein.

 

10.           Miscellaneous.
This Note is intended as a contract under and shall be construed and enforceable in accordance with the laws of the State of Delaware.
As used herein, the terms “Maker”, “Payee” and “Holder” shall be deemed to include their respective
heirs, successors, legal representatives and assigns, as the case may be, whether by voluntary action of the parties or involuntary
by operation of law.

 

[Signatures
on next page.]

 

    	Page
                                         3
                                         of 4.	 	 

     

    

 

IN
WITNESS WHEREOF, Maker has executed this Note under seal on the date first above written.

 

MAKER:

 

Canadian
Cannabis Corp.

 

	By:	/S/
    Benjamin Ward	 
	 	Benjamin
    Ward, President & CEO	 
	 	 	 
	Attest:	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

 

 

Page 4
of 4.Exhibit
10.1

 

MUTUAL
RELEASE AND SETTLEMENT AGREEMENT

 

This
Mutual Release and Settlement Agreement (the “Agreement”) is made and entered into by and between Joel J. Bellows
of Chicago, Illinois (“Bellows”) and Bellows & Bellows PC (“Bellows PC”) and Icagen, Inc., a Delaware
Corporation (formerly known as XRpro Sciences, Inc. and formerly known as Caldera Pharmaceuticals, Inc.) (“Icagen”
or “Caldera”) (together the “Parties” and each individually, a “Party”).

 

RECITALS

 

WHEREAS,
Bellows is the sole legal and beneficial owner of 105,000 Series A redeemable convertible preferred shares of Icagen stock.

 

WHEREAS,
Bellows filed a lawsuit against Icagen and Benjamin P. Warner entitled Joel Bellows v. Caldera Pharmaceuticals, Inc. and Benjamin
P. Warner, bearing docket number 14 CH 13815 (“Redemption Litigation”).

 

WHEREAS,
Bellows filed a lawsuit against Icagen, Benjamin P. Warner, Michael Lyon, Richard Lane, Clive Kabatznik, Mark Korb, Vincent Palmieri
and Edward Roffman entitled Joel Bellows v. Caldera Pharmaceuticals, Inc., Benjamin Warner, Michael Lyon, Richard Lane, Clive
Kabatznik, Mark Korb, Vincent M. Palmieri and Edward Roffman, bearing docket number 14 L 7429 (“Dividend Litigation”).

 

WHEREAS,
Bellows PC maintains an interest in the Redemption Litigation and Dividend Litigation.

 

WHEREAS,
the Parties desire to resolve all pending and outstanding issues between them in the manner set forth in this Agreement.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to
be legally bound hereby, the Parties hereby agree as follows:

 

TERMS

 

1.            PAYMENT
BY ICAGEN. Icagen will pay Bellows and Bellows PC the total sum of One Million Six Hundred Fifty Thousand dollars ($1,650,000)
(the “Settlement Payment”). The Settlement Payment shall be paid by check or wire in the following installments: (i)
Six Hundred Thousand Dollars ($600,000) payable within thirty (30) days of the date of this Agreement (the “Initial Settlement
Payment”); (ii) Four Hundred Thousand Dollars ($400,000) payable on or before December 31, 2015; and (iii) Six Hundred Fifty
Thousand Dollars ($650,000) payable over a six month period in four monthly installments of One Hundred Eight Thousand Three Hundred
Thirty Three Dollars and Thirty Three Cents ($108,333.33) and two monthly installments of One Hundred Eight Thousand Three Hundred
Thirty Three Dollars and Thirty Four Cents ($108,333.34), commencing with the first payment on January 31, 2016 and the next five
payments to be made on the last day of each successive month.

 

    	 	1	 

     

    

 

2.            ATTORNEYS’
FEES AND COSTS. Each Party to this Agreement acknowledges and agrees that it is solely responsible for paying any attorneys’
fees and costs he/she/it incurred and that neither Party nor its attorneys will seek any award of attorneys’ fees or costs
from the other Party except as provided herein.

 

3.            ASSIGNMENT
OF PREFERRED SHARES. Bellows assigns, sells, conveys, transfers and sets over unto Icagen, its successors and assigns, all
right, title and interest of Bellows in and to Bellows’ one hundred and five thousand (105,000) Series A redeemable, convertible
preferred shares of Icagen stock and all accrued dividends thereon (“Conveyed Shares), free and clear of all liens, claims,
charges and encumbrances. Bellows hereby represents and warrants to Icagen that (i) Bellows is the sole legal and beneficial
owner of the Conveyed Shares and no person other than he has any rights or interest in the Conveyed Shares, (ii) Bellows
owns the Conveyed Shares free and clear of all liens, claims, charges and encumbrances and he has not sold, conveyed, transferred,
assigned , mortgaged, pledged, hypothecated or encumbered the Conveyed Shares, and (iii) Bellows has the full power and authority
to assign, sell, convey, transfer and set over to Icagen all of Bellows’ right, title and interest in and to the Conveyed
Shares, no approval or consent of any person, court or other governmental authority or agency is required in connection with this
Agreement and the transfer of the Conveyed Shares to Icagen will not conflict with, or constitute a default (or an event
which with notice or lapse of time or both would become a default) under any agreement, indenture or instrument to which Bellows
is a party; or result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities
laws) applicable to Bellows. Bellows shall deliver the original physical Conveyed Shares
stock certificates to Icagen’s counsel, Blumenthal Law Group PC, upon delivery by Icagen of the first payment under this
Agreement. , which certificates shall be assigned and transferred to Icagen and duly endorsed by Bellows with a medallion guarantee
if Icagen so requests or the certificates shall be accompanied by a stock power that assigns and transfer to Icagen the Conveyed
Shares and the stock power shall be duly executed by Bellows with a medallion guarantee if Icagen so requests. Blumenthal Law
Group PC shall hold the Conveyed Shares in escrow pending completion of the payment schedule in this Agreement. Upon completion
of the payment schedule, Blumenthal Law Group PC shall deliver the Conveyed Shares to Icagen.

 

4.            NO
OTHER REPRESENTATIONS. Except as expressly set forth in this Agreement, neither Icagen
nor any of Icagen’s current and former shareholders, directors, officers,
agents, attorneys, representatives, trustees and employees nor Bellows or Bellows PC have made, or make, any representations or
warranty, express or implied, of any kind, including but not limited to representations and warranties relating to:

 

		a.	The
                                         subject matter of the Redemption Litigation;
	 	 	 

		b.	The
                                         subject matter of the Dividend Litigation;
	 	 	 

		c.	Icagen’s
                                         past, present or future
                                         business practices;
	 	 	 

		d.	The
                                         past, present or anticipated value of Icagen’s
                                         stock;
	 	 	 

		e.	Icagen’s
                                         financial condition;
	 	 	 

		f.	The
                                         nature and extent of Icagen’s dispute
                                         with SNR Denton and the likelihood of settlement with SNR Denton;
	 	 	 

		g.	The
                                         Estate of Sigmund Eisenschenk and any litigation pertaining thereto.

 

    	 	2	 

     

    

 

Any
such other representations and warranties are hereby expressly disclaimed. Bellows and Icagen expressly acknowledge and agree
that neither Bellows nor any of Bellows agents, employees, attorneys or representatives is relying on any other representation
or warranty of Icagen or any of its current and former shareholders, directors, officers,
agents, attorneys, representatives, trustees and employees including the accuracy or completeness of any such other representation
and warranties, whether express or implied and Bellows and Icagen expressly acknowledge and agree that neither Icagen nor any
of Icagen agents, employees, attorneys or representatives is relying on any other representation or warranty of Bellows
or any of its current and former shareholders, directors, officers, agents, attorneys, representatives, trustees and employees
including the accuracy or completeness of any such other representation and warranties, whether express or implied

 

5.            RELEASE
OF BELLOWS AND BELLOWS PC. Except for the obligations in this Agreement, Icagen,
on behalf itself, its predecessors, successors, past, present, and future officers, directors, shareholders, interest holders,
members, partners, attorneys, trustees, agents, employees, managers, representatives, assigns, and successors in interest, and
all persons acting by, through, under, or in concert with it, and each of them, hereby releases and discharges Bellows and Bellows
PC, together with his attorneys, agents, representatives, assigns and successors in interest, and all persons acting by, through,
under or in concert with them, and each of them, from all known and unknown charges, complaints, claims, grievances, liabilities,
obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, judgments, demands, accountings,
costs, losses, debts, interest, penalties, fees, expenses (including attorneys’ fees and costs actually incurred), compensatory
damages, damages for breach of contract, bad faith damages, reliance damages, liquidated damages, statutory damages, and punitive
damages, of any nature whatsoever, known or unknown, suspected or unsuspected, which Icagen
has, or may have had, against Bellows and Bellows PC, whether or not apparent or yet to be discovered, or which may hereafter
develop, for any acts or omissions of any kind and nature whatsoever occurring on or before the date of this Agreement including
without limitation any claims raised, or which could have been raised in the Redemption Litigation, in the Dividend Litigation,
pursuant to any agreement between the parties, and pursuant to Icagen’s June
24, 2011 Private Placement Memorandum.

 

6.            RELEASE
OF ICAGEN. Except for the obligations in this Agreement, Bellows and Bellows PC, on behalf of themselves, their predecessors,
successors, attorneys, agents, employees, managers, representatives, assigns, and successors in interest, and all persons acting
by, through, under, or in concert with them (collectively, the “Bellows Parties”), and each of them, hereby releases
and discharges Icagen, together with its predecessors, successors, past, present,
and future officers, directors, shareholders, interest holders, members, partners, attorneys, trustees, agents, employees, managers,
representatives, assigns and successors in interest, and all persons acting by, through, under or in concert with them, and each
of them (collectively, the “Icagen Parties”), from all known and unknown charges, complaints, claims, duties, grievances,
liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, judgments, demands,
accountings, costs, losses, debts, interest, penalties, fees, expenses (including attorneys’ fees and costs actually incurred),
compensatory damages, damages for breach of contract, bad faith damages, reliance damages, liquidated damages, statutory damages,
and punitive damages, of any nature whatsoever, known or unknown, suspected or unsuspected which any Bellows Party has, or may
have had, against any Icagen Party, whether or not apparent or yet to be discovered, or which may hereafter develop, for any acts
or omissions of any kind and nature whatsoever occurring on or before the date of this Agreement including without limitation
any claims raised, or which could have been raised in the Redemption Litigation, in the Dividend Litigation, pursuant to any agreement
between the parties, arising from or based on Icagen’s public filings or Icagen’s
June 24, 2011 Private Placement Memorandum.

  

    	 	3	 

     

    

 

7.            RELEASE
OF CRANE, RZEPCZYNSKI, LYON, LANE, WARNER, KABATZNIK, KORB, PALMIERI AND ROFFMAN. Except for the obligations in this Agreement,
Bellows and Bellows PC on behalf of themselves, their predecessors, successors, attorneys, agents, employees, managers, representatives,
assigns, and successors in interest, and all persons acting by, through, under, or in concert with them, and each of them hereby
releases and discharges Aaron Crane, Gregg Rzpeczynski, Michael Lyon, individually and as trustee of the Michael T. Lyon Profit
Sharing Plan, Richard Lane, Benjamin P. Warner, Clive Kabatznik, Mark Korb, Vincent Palmieri and Edward Roffman, together with
their attorneys, agents, representatives, assigns and successors in interest, and all persons acting by, through, under or in
concert with them, and each of them (collectively, the “Released Parties”), from all known and unknown charges, complaints,
claims, duties, grievances, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action,
suits, rights, judgments, demands, accountings, costs, losses, debts, interest, penalties, fees, expenses (including attorneys’
fees and costs actually incurred), compensatory damages, damages for breach of contract, bad faith damages, reliance damages,
liquidated damages, statutory damages, and punitive damages, of any nature whatsoever, known or unknown, suspected or unsuspected,
which any Bellows Party has, or may have had, against the Released Parties, whether or not apparent or yet to be discovered, or
which may hereafter develop, for any acts or omissions of any kind and nature whatsoever occurring on or before the date of this
Agreement including without limitation any claims raised, or which could have been raised in the Redemption Litigation, in the
Dividend Litigation, pursuant to any agreement between the parties, or arising from or based on Icagen’s public filings
or Icagen’s June 24, 2011 Private Placement Memorandum. This release shall
not be effective as to Michael Lyon, Richard Lane, Aaron Crane, Gregg Rzepcynzski until Bellows receives a release releasing Bellows
in the same form as the release of Bellows by Icagen.

 

8.            NO
OUTSTANDING OR KNOWN FUTURE CLAIMS/CAUSES OFACTION. Each Party affirms that is has not filed with any governmental agency
or court any type of action or report against the other Party, and currently knows of no existing act or omission by the other
Party that may constitute a claim or liability excluded from the release in Paragraph 5, 6, and 7 of this Agreement.

 

9.            ACKNOWLEDGMENT
OF SETTLEMENT. The Parties, as broadly described in paragraphs 5, 6 and 7 above, acknowledge that (i) the consideration set
forth in this Agreement, which includes, but is not limited to, the Settlement Payment, is in full settlement of all claims or
losses of whatsoever kind or character that they have, or may ever have had, against the other Party, as broadly described in
paragraphs 5, 6 and 7 above, including by reason of the Redemption Litigation and the Dividend Litigation and (ii) by signing
this Agreement, and accepting the consideration provided herein and the benefits of it, they are giving up forever any right to
seek further monetary or other relief from the other Party, as broadly described in paragraph 5, 6 and 7 above, for any acts or
omissions up to and including the Effective Date, as set forth in paragraph 5,6, 7 and 24, including, without limitation, claims
raised in the Redemption Litigation and the Dividend Litigation.

  

    	 	4	 

     

    

 

10.            DISMISSAL
OF LITIGATION: The Parties stipulate to a dismissal with prejudice of the entire pending Redemption Litigation against Icagen
and Benjamin P. Warner and the entire pending Dividend Litigation against Icagen,
Michael Lyon, individually and as trustee of the Michael T. Lyon Profit Sharing Plan, Richard Lane, Benjamin Warner, Clive Kabatznik,
Vincent Palmieri, Mark Korb and Edward Roffman. The parties shall execute stipulations to dismiss in the format annexed hereto
as Exhibit A and B upon tender by Icagen of the first installment to Bellows and
delivery by Bellows of the original physical Conveyed Shares stock certificates to Icagen.

 

11.           COVENANTS
BY BELLOWS AND BELLOWS PC. Bellows covenants as follows:

 

		(a)	that
                                         he shall not seek any sanctions and/or relief of any kind against Icagen,
                                         its past, present, and future officers, directors, shareholders, interest holders, members,
                                         partners, attorneys, trustees, agents, employees, managers, representatives, assigns,
                                         and successors, Aaron Crane, Michael Lyon, individually, and as trustee of the Michael
                                         T. Lyon Profit Sharing Plan, Richard Lane, Gregg Rzepczynski, Benjamin P. Warner, Clive
                                         Kabatznik, Mark Korb, Vince Palmieri and Edward Roffman for any act or omission occurring
                                         on or before the date of this Agreement;

 

		(b)	that
                                         he shall not oppose or object in any manner to an application by any person or entity
                                         to vacate the March 16, 2015 and May 29, 2015, orders entered in the probate proceeding
                                         in Cook County, Illinois, entitled Estate of Sigmund Eisenschenk and bearing docket number
                                         12 P 4829.

 

		(c)	that
                                         he shall not join in or adopt QTM Ventures, LLC, American Millings LP or the Estate of
                                         Eisenschenk’s existing or future citations to recover against Icagen, its past,
                                         present, and future officers, directors, shareholders, interest holders, members, partners,
                                         attorneys, agents, employees, managers, representatives, assigns, and successors, Aaron
                                         Crane, Michael Lyon, individually, and as trustee of the Michael T. Lyon Profit Sharing
                                         Plan, Richard Lane and Gregg Rzepczynski, in the matter of Estate of Sigmund Eisenschenk,
                                         12 P 4829;

 

		(d)	that
                                         he shall not pursue any claims nor participate in any manner in any capacity in the Estate
                                         of Eisenschenk, 12 P 4829, and, except as provided for herein, shall not assign his claims
                                         in the Estate of Eisenschenk, 12 P 4829, whether approved or unapproved, to any third
                                         person.

 

    	 	5	 

     

    

 

12.           RIGHT
TO ENFORCE RELEASE. Icagen’s past, present, and future officers, directors, shareholders, interest holders, members,
partners, attorneys, agents, employees, managers, representatives, assigns, and successors, Aaron Crane, Michael Lyon, individually,
and as trustee of the Michael T. Lyon Profit Sharing Plan, Richard Lane, Gregg Rzepczynski, Benjamin P. Warner, Clive Kabatznik,
Mark Korb, Vince Palmieri and Edward Roffman have the right to enforce the release provisions of this Agreement but only to the
same extent as the Parties.

 

13.
          NO ADMISSION OF LIABILITY. No Party to this Agreement admits any liability or wrongdoing, and all liability and/or
wrongdoing is hereby expressly denied. This Agreement is an agreement to amicably resolve disputed issues of law and fact.

 

14.           RELIANCE
ON OWN COUNSEL. In entering into this Agreement, the Parties acknowledge that they have relied upon the legal advice of their
respective attorneys, who are the attorneys of their own choosing, that such terms are fully understood and voluntarily accepted
by them, and that, other than the consideration set forth herein, no promises or representations of any kind have been made to
them by the other Party. The Parties represent and acknowledge that in executing this Agreement they did not rely, and have not
relied, upon any representation or statement, whether oral or written, made by the other Party or by that other Party’s
agents, representatives or attorneys with regard to the subject matter, basis or effect of this Agreement or otherwise.

 

15.           ENTIRE
AGREEMENT. This Agreement contains the entire agreement between and among the Parties relating to the subject matter hereof,
and may not be modified except by a written instrument signed by all Parties. The terms contained herein are contractual and not
mere recitals. This Agreement is executed without reliance upon any representation by any Party or any representative thereof.
The Parties hereto warrant and represent that they are fully authorized and empowered to enter into and execute this Agreement,
and that no further authorization, whether individual or corporate, is necessary or required.

 

16.           BINDING
EFFECT. All of the terms and conditions of this Agreement shall be binding upon and inure to the benefit of the Parties’
successors, administrators, legal representatives, heirs, assigns and Estates, as the case may be, of the Parties hereto.

 

17.           NEW
OR DIFFERENT FACTS; NO EFFECT. Except as provided herein, this Agreement shall be, and remain, in effect despite any alleged
breach of this Agreement or the discovery or existence of any new or additional fact, or any fact different from that which either
Party now knows or believes to be true. Notwithstanding the foregoing, nothing in this Agreement shall be construed as, or constitute,
a release of any Party’s rights to enforce the terms of this Agreement

 

18.           INTERPRETATION.
Should any provision of this Agreement be declared or be determined by any court to be illegal or invalid, the validity of
the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid part, term or provision shall
be deemed not to be a part of this Agreement. The headings within this Agreement are purely for convenience and are not to be
used as an aid in interpretation.

 

19.           NOT
TO BE CONSTRUED AS DRAFTED BY ONE PARTY. The text of this Agreement is the product of negotiation among all Parties and is
not be construed as having been prepared by one Party or the other Party, but shall be construed as if all Parties jointly prepared
this Agreement, and any ambiguity or uncertainty shall not be interpreted against any one Party.

 

    	 	6	 

     

    

 

20.           GOVERNING
LAW AND CHOICE OF FORUM. This Agreement is made and entered into within and shall be governed by, construed and enforced in
accordance with the laws of the State of Illinois without regards to its conflicts of law provisions. Any action to enforce this
Agreement shall be brought exclusively in a state or federal court situated in Cook County, Illinois.

 

21.            COUNTERPARTS.
This Agreement, if so desired, may be executed in counterparts, each of which, when so executed, shall be deemed to be an
original, and such counterparts together shall constitute one and the same instrument. A copy, facsimile copy or PDF copy of this
Agreement shall be as valid and binding as the original.

 

22.           LIMITATION
ON DAMAGES. Notwithstanding anything to the contrary in this Agreement or provided under any applicable law, no Party (including
any of its current and former shareholders, directors, officers, agents, attorneys, representatives, trustees and employees) shall
be liable to any other Party, either in contract or in tort, for any consequential, incidental, indirect, special or punitive
damages, including any lost profits, relating to the breach or alleged breach hereof, whether or not the possibility of such damages
has been disclosed to the other party in advance or could have been reasonably foreseen by such other party.

 

23.           MODIFICATION
BY WRITING ONLY. This Agreement shall not be modified by any Party by oral representation made before or after the execution
of this Agreement. All modifications must be in writing and signed by all of the Parties hereto.

 

24.           EFFECTIVE
DATE. The effective date of this Agreement is September 28, 2015.

 

25.           ASSIGNMENT
OF LYON AND LANE CLAIMS AND JUDGMENT. Bellows assigns, sells, conveys, transfers and sets over unto Icagen, its successors
and assigns, all right, title and interest he has or ever had in (A) the federal judgment against Sigmund Eisenschenk dated August
17, 2010 (“the Lyon and Lane Judgment”), annexed hereto as Exhibit A, acquired by Bellows by virtue of paragraph 5
of the Parties’ settlement agreement in Case No. 08 L 9801 (formerly pending in Cook County, Illinois) from Caldera Pharmaceuticals,
annexed hereto as Exhibit B, and (B) the two probate claims dated October 9, 2012, acquired by Bellows from Lyon and Lane (“Probate
Claims”), annexed hereto as Exhibit C, by way of assignments agreement dated June 4, 2013, annexed hereto as Exhibit D,
pending in the matter of Estate of Eisenschenk, 12 P 4829, free and clear of all liens, claims, charges and encumbrances by virtue
of Bellows actions. Bellows hereby represents and warrants to Icagen that from the effective date of the assignment to Bellows:
(i) Bellows warrants that he has taken no action to diminish, transfer, convey or encumber the title of the Probate Claims
and Lyon and Lane Judgment that he received from Icagen. (ii) Bellows has not sold, conveyed, transferred, assigned , mortgaged,
pledged, hypothecated or encumbered the Lyon and Lane Judgment, (iii) Bellows has not sold, conveyed, transferred, assigned, mortgaged,
pledged, hypothecated or encumbered the Probate Claims, (iv) Bellows has the full power and authority to assign, sell, convey,
transfer and set over to Icagen all of Bellows’ right, title and interest in and to the Lyon and Lane Judgment, and (v)
Bellows has the full power and authority to assign, sell, convey, transfer and set over to Icagen all of Bellow’s right,
title and interest in and to the Probate Claims, (vi) no approval or consent of any person, court or other governmental authority
or agency is required in connection with this Agreement and the transfer of the Lyon and Lane Judgment to Icagen will not conflict
with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under any agreement,
indenture or instrument to which Bellows is a party; or result in a violation of any law, rule, regulation, order, judgment or
decree (including federal and state securities laws) presently applicable to Bellows; (vii)
no approval or consent of any person, court or other governmental authority or agency is required in connection with any obligation
of Bellows or Bellows PC under this Agreement and the transfer of the probate Claims to Icagen will not conflict with,
or constitute a default (or an event which with notice or lapse of time or both would become a default) under any agreement, indenture
or instrument to which Bellows is a party; or result in a violation of any law, rule, regulation, order, judgment or decree (including
federal and state securities laws) applicable to Bellows.

 

    	 	7	 

     

    

 

26.          ASSIGNMENT OF CLAIMS AGAINST SIGMUND EISENSHCENK AND ESTATE OF
SIGMUND EISENSCHENK. Bellows and Bellows PC assigns, sells, conveys, transfers and sets
over unto Icagen, its successors and assigns, all right, title and interest in all of his claims, not otherwise assigned under
this agreement, against Sigmund Eisenschenk and the Estate of Eisenschenk (“Other Claims”), 12 P 4829, free and clear
of all liens, claims, charges and encumbrances. Bellows and Bellows PC hereby represents and warrants to Icagen that (i) Bellows
and Bellows PC are the sole legal and beneficial owner of the Other Claims , (ii) no person other than he has any rights or interest
in the Other Claims, (iii)Bellows and Bellows PC owns the Other Claims free and clear of all liens, claims, charges and encumbrances
and he has not sold, conveyed, transferred, assigned , mortgaged, pledged, hypothecated or encumbered the Other Claims, (iv) Bellows
has the full power and authority to assign, sell, convey, transfer and set over to Icagen all of Bellow’s right, title and
interest in and to the Other Claims, and (v) no approval or consent of any person, court or other governmental authority or agency
is required in connection with this Agreement and the transfer of the Other Claims to Icagen will not conflict with, or
constitute a default (or an event which with notice or lapse of time or both would become a default) under any agreement, indenture
or instrument to which Bellows and Bellows PC is a party; or result in a violation of any law, rule, regulation, order, judgment
or decree (including federal and state securities laws) applicable to Bellows and Bellows PC.
Icagen agrees to indemnify Bellows for claims that arise out of any claims pursued by Icagen against the Estate of Sigmund Eisenschenk.

 

[signature
page follows]

 

    	 	8	 

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the Effective Date:

 

	ICAGEN, INC. f/k/a CALDERA	 
	PHARMACEUTICALS, INC, a	 
	Delaware Corporation	 
	 	 	 
	By:	/s/
    Timothy Tyson	 
	 	Timothy
    Tyson, Chairman of the Board	 
	 	 	 
	JOEL J. BELLOWS	 
	 	 	 
	By:	/s/
    Joel J. Bellows	 
	 	Joel
    J. Bellows	 

 

    	 	9	 

     

    

 

Exhibit A

 

IN
THE CIRCUIT COURT OF COOK COUNTY

COUNTY
DEPARTMENT, CHANCERY DIVISION

 

	JOEL
    BELLOWS,	)	 
	 	)	 
	Plaintiff,	)	No.
    2014 CH 13815
	 	)	 
	v.	)	 
	 	 	 
	CALDERA
    PHARMACEUTICALS, INC.,	)	 
	n/k/a
    XRpro Sciences, Inc., and BENJAMIN	)	 
	P.
    WARNER, individually,	)	 
	 	)	 
	Defendants.	)	 

 

STIPULATION
TO DISMISS

 

The undersigned
hereby stipulate to dismissal of this matter with prejudice as to all defendants pursuant to settlement with each side to bear
their own costs and attorneys’ fees.

 

	 	 	 
	Grant
    Blumenthal	 	Schuyler
    Geller
	Blumenthal
    Law Group PC	 	Bellows
    & Bellows PC
	180
    N. LaSalle Street	 	209
    S. LaSalle Street
	Suite
    3700	 	Suite
    800
	Chicago,
    Illinois 60601	 	Chicago,
    Illinois 60604
	 	 	 
	Attorneys
    for Caldera Pharmaceuticals	 	Attorneys
    for Joel J. Bellows
	n/k/a
    Icagen, Inc. and Benjamin P. Warner	 	 

  

	 	ENTER:	 	 
	 	 	Judge	Judge’s
    No.
	 	 	 	 

 

    	 	10	 

     

    

 

Exhibit
B

 

IN
THE CIRCUIT COURT OF COOK COUNTY

COUNTY
DEPARTMENT, LAW DIVISION

 

	JOEL
    BELLOWS,	)	 
	 	)	 
	Plaintiff,	)	No.
    2014 L 007429
	 	)	 
	v.	)	 
	 	 	 
	CALDERA
    PHARMACEUTICALS, INC., n/k/a	)	 
	XRPRO
    SCIENCES, INC., BENJAMIN P. WARNER,	)	 
	MICHAEL
    LYON, RICHARD LANE, CLIVE	)	 
	KABATZNIK,
    MARK KORB, VINCENT M.	)	 
	PALMIERI,
    and EDWARD R. ROFFMAN.	)	 
	 	)	 
	Defendants.	)	 

 

DISMISSAL
ORDER

 

The undersigned
hereby stipulate to dismissal of this matter with prejudice as to all defendants pursuant to settlement with each side to bear
their own costs and attorneys’ fees.

 

	 	 	 
	Grant
    Blumenthal	 	Schuyler
    Geller
	Blumenthal
    Law Group PC	 	Bellows
    & Bellows PC
	180
    N. LaSalle Street	 	209
    S. LaSalle Street
	Suite
    3700	 	Suite
    800
	Chicago,
    Illinois 60601	 	Chicago,
    Illinois 60604
	 	 	 
	Attorneys
    for Caldera Pharmaceuticals	 	Attorneys
    for Joel J. Bellows
	n/k/a
    Icagen, Inc., Benjamin P. Warner,	 	 
	Michael
    Lyon, Richard Lane, Clive	 	 
	Kabatznik,
    Mark Korb, Vincent Palmieri	 	 
	and
    Edward Roffman.	 	 

 

	 	ENTER:	 	 
	 	 	Judge	Judge’s
    No.
	 	 	 	 

 

 

 11

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