Document:

ex_440606.htm

Exhibit 10.2

 

Certain confidential portions of this Exhibit were omitted by means of marking such portions with brackets (“[***]”) because the identified confidential portions (i) are not material and (ii) would be competitively harmful if publicly disclosed.

 

AMENDMENT NO. 5

 

This Amendment No. 5 (the “Amendment”) to the License and Collaboration Agreement dated May 2, 2017, as amended, (the “Agreement”), is made by and between:

 

	 	
			(1)

				
			ASTRAZENECA AB, a company incorporated in Sweden under no. 556011-7482 with its registered office at SE-151 85 Södertälje, Sweden and principal offices at SE-431 83 Mölndal, Sweden (“AstraZeneca”); and

			

 

	 	
			(2)

				
			PIERIS PHARMACEUTICAL, INC. (“Pieris US”), a corporation existing under the laws of the State of Nevada having a principal place of business at 255 State Street, 9th Floor, Boston, MA 02109, PIERIS PHARMACEUTICALS GMBH (“Pieris Germany”), a company existing under the laws of Germany having a principal place of business at Zeppelinstrasse 3, Hallbergmoos 85399, Germany, PIERIS AUSTRALIA PTY. LTD. (“Pieris Australia”), a company existing under the laws of Australia with its registered address at Level 16, 77 Castlereagh St, Sydney NSW 2000, Australia (Pieris US, Pieris Germany, and Pieris Australia are collectively referred to as “Pieris”),

			

 

and is made effective as of 1 August, 2022 (the “Amendment Effective Date”).

 

Recitals         

 

WHEREAS, for this purpose the Parties desire to amend and restate certain terms and conditions of the Agreement.

 

Agreement

 

NOW, THEREFORE, in consideration of the mutual covenants contained in this Amendment, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

 

1.    Definitions

 

Any capitalized term not separately defined in this Amendment shall have the meaning ascribed to it in the Agreement.

 

2.    Amendments 

 

2.1    The Parties hereby extend the Collaboration Term until December 31st, 2023.

 

2.2    The Parties have agreed that Pieris may continue to conduct Research activities and bear all costs associated with identifying Anticalin-based ligands against the [***] CoDev Target (“[***]”). Pieris shall continue to update the Joint Steering Committee (“JSC”) and Joint Development Committee (“JDC”) (collectively, “Joint Governance”) regarding [***] until [***] (Pieris [***]), but the Joint Governance shall not have any decision-making authority with respect to the progression of [***] unless and until AstraZeneca resumes its obligations with respect to [***] as set forth in Section 2.4 of this Amendment. For clarity, costs for [***] as of [***] (inclusive) shall no longer be included in the [***] cap of maximum spend for Collaboration Product Development Costs through Lead Candidate stage for Pieris set forth in Section 4.4.4 (the “Cap”) unless and until AstraZeneca resumes its obligations with respect to [***] as set forth in Section 2.4 of this Amendment.

 

 

 

 

2.3    AstraZeneca is hereby relieved of any and all obligations with respect to [***] under the Agreement (including any Research or Development activities and related costs) and AstraZeneca shall be deemed in full compliance with any and all commercially reasonable efforts it may have related to [***] during the time period from the Amendment Effective Date until AstraZeneca resumes its obligations with respect to [***] as set forth in Section 2.4 of this Amendment.

 

2.4    Upon written notice to Pieris at any time prior to or at the achievement of [***] (Pieris [***]) as set forth in Section 2.5, AstraZeneca may resume all obligations under the Agreement with respect to [***], whereafter Pieris’ Costs associated with Research and Development of [***]until [***] is achieved in accordance with Section 4.4.3.1 of the Agreement shall be reimbursed in full by AstraZeneca [***] (including FTE costs at the FTE Rate). In such a case for forward-looking activities, the cost-sharing structure as agreed upon for [***] under Section 2.7 of this Amendment shall also apply to [***].

 

2.5    Pieris shall provide written notice of the achievement of Pieris’ [***] or its decision to discontinue development of [***], (in each case determined at Pieris’ sole discretion), and shall share all available data to support achievement of Pieris [***] (or in the case of discontinuation, Pieris shall share all available data to date) and a summary of related FTE costs and out of pocket costs. AstraZeneca may provide written notice that it will resume its obligations with respect to [***] as set forth in Section 2.4 within [***] days after receipt of all available data.

 

2.6    To the extent that AstraZeneca does not provide written notice of its intent to resume its obligations with respect to [***] under Section 2.5 of this Amendment within the applicable timeframes, [***] shall be deemed to have been terminated from the Agreement with the consequences set forth in Section 14.3.1 of the Agreement.

 

2.7    The Parties have agreed that any Pieris Costs for Research directed to [***] until [***], prior and after the Amendment Effective Date, shall count towards the Cap.

 

2.8    Should no [***] have been identified for [***] before Pieris has expended the Cap, the Parties have agreed to the following cost-sharing structure for the period up until [***] is achieved:

 

	 	
			(a)

				
			Any Costs for Research directed to the [***] shall be discussed and agreed within the JSC. Any such Costs to be reimbursed by AstraZeneca shall be approved by AstraZeneca in writing prior to any Research being initiated.

			

 

	 	
			(b)

				
			Within [***] days after the end of each Calendar Quarter, Pieris will provide AstraZeneca with a detailed, itemized invoice of agreed Costs actually incurred by Pieris in its performance of the Research directed to the [***] during such Calendar Quarter and AstraZeneca shall pay undisputed invoices within [***] days of the receipt of each invoice.

			

 

2

 

 

	 	
			(c)

				
			AstraZeneca may request additional supporting documentation evidencing that such costs have been incurred and Pieris shall provide such information promptly if requested. Should there be a dispute as to whether such Costs have been incurred, the matter shall be addressed under the dispute resolution provisions in Section 15.1.

			

 

2.9    To the extent that AstraZeneca wishes to further Research, Develop, Manufacture or Commercialize [***] as a [***] beyond the Collaboration Term, then the Parties shall negotiate in good faith a commercially reasonable additional fee for access to the [***] technology, including a license to the corresponding Intellectual Property Rights. Absent such agreement, AstraZeneca shall not continue the Research, Development, Manufacture, or Commercialization of any [***] as part of the [***] program after the conclusion of the Collaboration Term. For clarity, this paragraph shall not be interpreted to affect any right or obligation either Party may have during the Collaboration Term under, or arising from, the Agreement.

 

	
			3.

				
			Modifications

			

 

	
			3.1

				
			Section 1.109 (FTE Rate) of the Agreement is hereby deleted in its entirety and replaced by the following:

			

 

“1.109         “FTE Rate” means, unless otherwise agreed between the Parties, a rate per FTE equal [***] per annum (which may be prorated on a daily or hourly basis as necessary).”

 

	
			4.

				
			Amendment Effective Date

			

 

This Amendment shall become effective on the Amendment Effective Date.

 

	
			5.

				
			Entire Agreement

			

 

This Amendment, together with the Agreement, constitutes the entire agreement between the Parties with respect to the subject matter of the Agreement. The Agreement together with this Amendment supersedes all prior agreements, whether written or oral, with respect to the subject matter of the Agreement, as amended. Each Party confirms that it is not relying on any representations, warranties, or covenants of the Party except as specifically set out in the Agreement as amended. Nothing in this Amendment is intended to limit or exclude any liability or fraud. The Parties hereby agree that subject to the modifications specifically stated in this Amendment, all other terms and conditions of the Agreement shall remain in full force and effect.

 

 

[Remainder of page intentionally blank. Signatures follow.]

 

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Execution

 

THIS AMENDMENT IS EXECUTED by the authorized representatives of the Parties as of the Amendment Effective Date.

 

	
			ASTRAZENECA AB (publ.) 

				 PIERIS PHARMACEUTICAL, INC.
			 

			
	
			 

			 

			Signature:         __/s/ Maria Belvisi_____ 

			 

			Name:         _Maria Belvisi_________    

			 

			Title: SVP & Head of Research & Early Respiratory & Immunology

				
			 

			 

			Signature:         __/s/ Stephen Yoder___

			 

			Name:            ___ Stephen Yoder___

			 

			Title:             _CEO & President____

			

       

 

 

	 	
			PIERIS PHARMACEUTICALS GmbH.

			 

			 

			Signature:         __/s/ Stephen Yoder___

			 

			 

			Name:              ____ Stephen Yoder___

			 

			 

			Title:                Managing Director______

			 

			 

			PIERIS AUSTRALIA PTY LTD.

			 

			 

			Signature:         __/s/ Stephen Yoder___

			 

			 

			Name:         ___ Stephen Yoder___

			 

			 

			Title:         __Director__________

			

 

 

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SUPPLEMENTAL AGREEMENT
SUPPLEMENTAL AGREEMENT (the “Supplemental Agreement”), dated as of August 31, 2022, by and among El Pollo Loco Holdings, Inc. (formerly known as Chicken Acquisition Corp.), a Delaware corporation (the “Company”) and FS Equity Partners V, L.P. (“FSEP V”), and FS Affiliates V, L.P. (“FSA V”) (collectively, the “New Stockholders”).  All capitalized terms used herein without meaning shall have the meanings ascribed to such terms in the Stockholders Agreement (as defined below). 
RECITALS
WHEREAS, the Company entered into a Stockholders Agreement, dated as of November 18, 2005, with Trimaran Pollo Partners, L.L.C. and certain other stockholders of the Company party thereto, as amended by Amendment No. 1 to the Stockholders Agreement dated April 20, 2006 and Amendment No. 2 to the Stockholders Agreement dated December 26, 2007 (as amended or otherwise modified from time to time, the “Stockholders Agreement”); 
WHEREAS, the Company and the New Stockholders desire to execute this Supplemental Agreement pursuant to Section 9.1 of the Stockholders Agreement in order that the New Stockholders may be a party to the Stockholders Agreement. 
NOW THEREFORE, in consideration of the foregoing and the agreements set forth below, the parties hereto agree as follows:
1.Agreement by the New Stockholders. By executing this agreement, the New Stockholders hereby agree to be bound, as a party to the Stockholder Agreement, to all of the provisions of the Stockholder Agreement applicable to a Stockholder, in the same manner as if each of the New Stockholders had executed the Stockholder Agreement.
2.Agreement by the Company. 
(a)The Company hereby accepts each of the New Stockholders as a party to the Stockholders Agreement with all of the rights and privileges, and subject to all of the obligations, to which a Stockholder is entitled or subject to under the Stockholders Agreement.
(b)If within six months from the date hereof, the Company consummates a merger, reclassification or consolidation (but for the avoidance of doubt, excluding any acquisition of Common Stock pursuant to any share buyback, tender offer or otherwise) (the “Merger”), and in connection with such consummation of the Merger, upon the written request of FS, the Company agrees to adopt the resolutions substantially in the form attached hereto as Exhibit A prior to the consummation of such Merger . 
3.Governing Law.  This Agreement and the rights and obligations of the parties hereunder and the parties subject hereto shall be governed by, and construed and interpreted in accordance with, the law of the state of Delaware, without giving effect to any contrary result otherwise required under applicable choice of law principles.

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4.Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which shall constitute one and the same Agreement.
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IN WITNESS WHEREOF, the undersigned have executed this Supplemental Agreement as of the date first set forth above. 
EL POLLO LOCO HOLDINGS, INC.
	

	By: /s/ Anne Jollay

	Name: Anne Jollay
Tittle: Chief Legal Officer, General Counsel 

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FS Equity Partners V, L.P.
By:  FS Capital partners V, LLC
	

	By: /s/ John M Roth

	Name: John M Roth

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FS Affiliates V, L.P.
By: FS Capital Partners V, LLC
	

	By: /s/ John M Roth

	Name: John M Roth

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Exhibit A
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WHEREAS, the Board has determined that the disposition of shares of [Company Stock, Company Stock Options, Company Restricted Shares, Company RSUs, Company PSUs and Company SARs] held by each of the persons listed in Annex I hereto (who are officers, directors (including “directors by deputization”) and other employees of the Company) (“Company Insiders”) pursuant to the Merger should have the benefit of an exemption from Section 16 of the Exchange Act.
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WHEREAS, the Board is aware that John Roth has relationships with affiliates (such affiliates, the “FS Sponsor Entities”) of [FS Funds that hold the shares] (the “FS Funds”), and that Mr. Roth and the FS Sponsor Entities have certain direct or indirect pecuniary interests in the [list relevant securities] held through the FS Funds, and that the FS Sponsor Entities (including, for the avoidance of doubt, the FS Funds) are “directors by deputization” of the Company for purposes of Section 16 under the Securities Exchange Act of 1934 (as amended, the “Exchange Act”) by virtue of such relationships.
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NOW, THEREFORE, BE IT RESOLVED, that the Board hereby approves the disposition in the Merger of the shares of [Company Stock, Company Stock Options, Company Restricted Shares, Company RSUs, Company PSUs and Company SARs] held by each of the Company Insiders named in Annex I hereto, pursuant to and in accordance with the terms of the Merger Agreement and approves any and all other transactions involving the Company Insiders relating to the Merger that may be considered “acquisitions” or “dispositions” by such persons under Section 16 of the Exchange Act. 
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RESOLVED, FURTHER, that the foregoing approval of the disposition of the shares of [Company Stock, Company Stock Options, Company Restricted Stock, Company RSUs, Company PSUs and Company SARs] held by the Company Insiders named in Annex I in connection with the Merger is intended to exempt such dispositions and any related transactions from Section 16(b) under the Exchange Act, as provided for in Rule 16b-3 promulgated under the Exchange Act, including with respect to the disposition of direct or indirect pecuniary interests of Mr. Roth and the FS Sponsor Entities in the Shares held through the FS Funds.
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Annex I
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		●	FS Equity Partners V, L.P., FS Affiliates V, L.P., Mr. John Roth and their respective Affiliates that are Company Insiders

		●	[Others – to be determined in the Company’s sole discretion]

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