Document:

aecomfifthamend110109.htm

    FIFTH AMENDMENT
AGREEMENT<?xml:namespace
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      />
 

    
    
 

               
This Fifth Amendment Agreement is made effective November ___, 2009 by
and between Albert Einstein College of Medicine of Yeshiva University, a
Division of Yeshiva University, a corporation organized and existing under the
laws of the State of New York, having an office and place of business at 1300
Morris Park Avenue, Bronx, New York 10461 ("AECOM") and Applied NeuroSolutions,
Inc. (formerly known as Molecular Geriatrics Corp.), a corporation organized and
existing under the laws of the State of Delaware, having an office and place of
business at 50 Lakeview Parkway, Suite 111, Vernon Hills, Illinois  60061
("Licensee").
     
 

                                                                            Statement
 

               
AECOM and
Licensee are parties to (1) a License and Collaborative Research Agreement dated
February 1, 1994, as amended by an Amendment Agreement executed on March 20,
2002, a Second Amendment Agreement effective September 21, 2002, a Third
Amendment Agreement effective October 30, 2006, and a Fourth Amendment Agreement
effective December 1, 2008, (collectively, "the 1994 Agreement") and (2) a
License and Collaborative Research Agreement effective July 1, 1993, as amended
by an Amendment Agreement executed on July 9, 1993, an Amendment Agreement
executed on March 20, 2002, a Second Amendment Agreement effective September 21,
2002, a Third Amendment Agreement effective October 30, 2006, and a Fourth
Amendment Agreement effective December 1, 2008, (collectively, "the 1993
Agreement").  The parties now wish
to make changes to certain terms that were added to both the 1993 Agreement and
the 1994 Agreement by the Amendment Agreement executed on March 20, 2002 (“the
March 2002 Amendment Agreement”), the Second Amendment Agreement effective
September 21, 2002 (“the September 2002 Amendment Agreement”), the Third
Amendment Agreement effective October 30, 2006 (“the October 2006 Amendment
Agreement”) and the Fourth Amendment Agreement effective December 1, 2008 (“the
December 2008 Amendment Agreement”).
 

     
 

               
NOW, THEREFORE, in consideration of the mutual covenants contained in the
1993 Agreement, the 1994 Agreement, the March 2002 Amendment Agreement, the
September 2002 Amendment Agreement, the October 2006 Amendment Agreement, the
December 2008 Amendment Agreement and in this Fifth Amendment Agreement and
other good and valuable consideration the receipt and sufficiency of which is
hereby acknowledged, the parties agree as
follows:
 

     
 

    1.                
Paragraph 1 of the December 2008 Amendment Agreement is
hereby amended as follows:  The
license maintenance payments due January 1, 2009 and July 1, 2009 are deferred
until December 31, 2011.
 

    2.                
Paragraph 3 of the March 2002 Amendment Agreement is
hereby amended as follows:  The
license maintenance payments due January 1, 2010, July 1, 2010, January 1, 2011
and July 1, 2011 are deferred until December 31,
2011.
 

    3.                
Paragraph 9(e) of the March 2002 Amendment Agreement is
hereby amended so that the due date for the November 1, 2009 quarterly research
support payment is changed to February 1,
2010.
 

    4.                
AECOM may, at its option, accept a) shares of common
stock or b) Units (convertible debt and warrants) in the Licensee’s current
funding, to reduce all or a portion of the deferred license maintenance payments
in paragraphs 1 and 2 above.  The
remaining balance of deferred license maintenance payments, if any, will be
repaid, at AECOM’s option 1) in cash by December 31, 2011 or 2) over a 24-month
period, plus interest, beginning in December
2011.
 

    5.                
Any revenues received or net proceeds received by
Licensee that would have required Licensee to make payment to AECOM from January
1, 2010 to December 31, 2011 will be deferred until December 31, 2011.  These deferred payments, if any, can be
repaid, at AECOM’s option on the same terms as discussed in Paragraph 4
above.
 

    6.                
Licensee’s failure to make any of the payments required
by paragraphs 1, 2, 3 and 5 above shall constitute a material breach of both the
1993 Agreement and the 1994 Agreement.
 

    7.                
The applicable provisions of this Fifth Amendment
Agreement shall be deemed to be incorporated into the 1993 Agreement, the 1994
Agreement, the March 2002 Amendment Agreement, the September 2002 Amendment
Agreement, the October 2006 Amendment Agreement and the December 2008 Amendment
Agreement in full and to be an integral part thereof as though fully set forth
therein.  With the exception of the
above amendments, all other provisions of the 1993 Agreement, the 1994
Agreement, the March 2002 Amendment Agreement, the September 2002 Amendment
Agreement, the October 2006 Amendment Agreement and the December 2008 Amendment
Agreement shall remain in full force and
effect.
 

     
 

     
 

     
 

               
IN WITNESS WHEREOF, the parties hereto have entered into and executed
this Fourth Amendment Agreement on the date first above
written.
 

     
 

     
 

    ALBERT EINSTEIN COLLEGE            
           
           
APPLIED NEUROSOLUTIONS, INC.
 

    OF MEDICINE OF YESHIVA                       
           

 

    UNIVERSITY
 

     
 

     
 

    By:  
_________________________            
By:  
___________________________
 

     
 

    Name:________________________               
Name:__________________________
 

     
 

    Title:_________________________               
Title:___________________________
 

     
 

     
 

     
 

     
 

    Agreed to and accepted by: 
 

     
 

     
 

     
 

    ______________________                   
Date:_____________________
 

    Dr. Peter
Davieslillyfirstamendment112509.htm

    
      CONFIDENTIAL
PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE
COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. 
 

       
 

       
 

       
 

       
 

      AMENDMENT
 

      This Amendment (the "Amendment") to
the Collaboration Agreement dated as of November 27, 2006 (the
"Agreement"), is effective as of November 25, 2009 (" Amendment Effective Date"), between Eli Lilly and Company, a corporation
organized and existing under the laws of the State of Indiana ("Lilly"),
and Applied NeuroSolutions, Inc., a corporation organized and existing
under the laws of the State of Delaware ("APNS").
 

      Whereas,
the
Parties desire to amend the Agreement to clarify certain provisions thereof;
 

      Now, THEREFORE,
for good and lawful consideration, the sufficiency of which is acknowledged and
agreed, the parties, intending to be legally bound, hereby agree as
follows:
 

      Article
1.
 

      A.
LILLY hereby exercises its option under Section 4 to extend the
Collaboration for
 

      2010.
 

      B. 
Delete Section 9. (a) and substitute therefor the following:
 

      (a)                 
Research Licenses to LILLY. Subject to the terms and conditions of
this
Agreement, APNS hereby grants to LILLY a co-exclusive,
non-sublicensable, royalty free
license during the Collaboration Term under
APNS IP solely to the extent necessary or
appropriate to carry out LILLY'S
responsibilities under the Research Plan; provided, however,
that the license to LILLY for the Antibodies set
forth on page 26 of the Research Plan (Appendix
A) shall be
non-exclusive.
 

      C. 
Delete Section 10. (b) and substitute therefor the following:
 

      (b)       Annual
payments of [***]
per year annually from
[***] and [***] annually for [***] (payable only if LILLY exercises its
option under Section 4 to extend the Collaboration for [***]), with the payment [***] be paid by LILLY [***], for research and development support,
starting with the first payment due and payable [***], for work during the Collaboration Term
and subsequent payments due and payable [***].
 

      Article 2,      
Effect on
Agreement. Except as
amended by this Amendment the Agreement shall remain in full force and effect. After the
Amendment Effective Date, every reference in the
 

      Agreement to the
''Agreement'' shall mean the Agreement as amended by this Amendment.
 

      Article 3.      
Counterparts. This Amendment may be executed in counterparts, each
of which shall be deemed an original, but all of which will constitute one and
the same instrument.
 

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                  [***]  THE CONFIDENTIAL PORTION OF THIS
      AGREEMENT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION
      PURSUANT TO A REQUEST FOR
  CONFIDENTIALITY.
 

              

            

 
       
 

       
 

    

    
    

               
IN WITNESS WHEREOF, the Parties have
executed this Amendment as of the Amendment Effective
Date.
 

     
 

                                                            
Eli Lilly and Company
 

     
 

                                                            
By:      
/s/David S. Bredt                      
           
11/25/09
 

                                                            
     
Name: David Bredt, MD, Ph.D
 

                                                            
      
Title:  V.P. Neuroscience
Discovery Research
 

     
 

                                                            
Applied NeuroSolutions, Inc.
 

     
 

                                                            
By:      
/s/Craig S. Taylor                     
           
11/27/09
 

                                                            
     
Name: Craig Taylor
 

                                                            
      
Title:  President and
CEO

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