Document:

Exhibit 10.4

 

AMENDMENT TO DEVELOPMENT, MANUFACTURING

AND COMMERCIALIZATION AGREEMENT

 

This is an Amendment to the Development, Manufacturing
and Commercialization Agreement (the “Agreement”) dated April 27, 2015, between Perrigo UK Finco Limited Partnership,
a United Kingdom limited partnership (“Perrigo UK”), and Sol-Gel Technologies Ltd., a limited liability company
incorporated in Israel (“Sol-Gel”). Perrigo UK and Sol-Gel may hereafter be referred to collectively as
the “Parties” and individually as a “Party.” The Effective Date of this Amendment is October
26, 2015 (the “Effective Date”).

 

BACKGROUND

 

A.           Perrigo
UK and Sol-Gel entered into the Agreement on April 27, 2015.

 

B.           The
parties desire to amend the Agreement on the terms and subject to the conditions set forth herein.

 

Accordingly, the parties
agree as follows:

 

		1.	Amend Section 3.2b to now read as follows:

 

b. Sol-Gel shall be responsible for
100% of the out-of-pocket clinical study costs (including materials); provided that in the event that the results of the clinical
study are insufficient for obtaining FDA approval for the commercialization of the Product, Perrigo shall participate in Sol-Gel's
losses by reimbursing Sol-Gel, upon cessation of the clinical study, an amount equal to 40% of the out-of-pocket clinical study
costs paid by Sol-Gel pursuant to this Section 3.2(b).

 

		2.	Amend Section 3.2c to now read as follows:

 

Perrigo shall be responsible
for 100% of all expenses related Litigation, until such time as the Litigation costs incurred by Perrigo equals [***]% of the amount
that Sol-Gel has paid pursuant to Section 3.2b, and, thereafter, each of Perrigo and Sol-Gel shall be responsible for [***]% all
expenses related to Litigation (subject to Section 7.4 below).

 

		3.	Add Section 3.2e to now read as follows:

 

In the event that, as of the cessation
of Litigation proceedings, the Litigation related expenses incurred by Perrigo are less than [***]% of the amount that Sol-Gel
has paid pursuant to Section 3.2b, Perrigo will pay to Sol-Gel [***]% of the positive difference between such amount and the amount
of Litigation expenses actually incurred by Perrigo.

 

    [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

     

    

  

		3.	No Other Modification; Conflict. On and after the date of this Amendment each reference
in the Agreement to "this Agreement," "hereunder," "hereof," or words of like import referring to
the Agreement shall mean and be a reference to the Agreement as amended by this Amendment. The Agreement, as amended by this Amendment,
is and shall continue to be in full force and effect in accordance with its terms, and except as expressly set forth in this Amendment
no other amendment or modification to the Agreement is agreed to or implied. If there is any conflict between the provisions of
this Amendment at the provisions of the Agreement, the provisions of this Amendment will control.

 

		4.	Governing Law. This Amendment shall be governed by, and construed in accordance with, the
laws of the State of New York, without regard to choice or conflict of law principles that would result in the application of any
laws other than the laws of the State of New York.

 

		5.	Counterparts. This Amendment may be executed and delivered (including by facsimile or electronic
transmission) in one or more counterparts, and by each party hereto in separate counterparts, each of which when executed shall
be deemed to be an original but all of which taken together shall constitute one and the same agreement.

 

The parties have executed this Amendment as
of the Effective Date. 

 

	PERRIGO UK FINCO	 	SOL-GEL TECHNOLOGIES LTD.
	 LIMITED PARTNERSHIP	 	 	 
	 	 	 	 
	By:	Perrigo International Holdings II, Inc.	 	 	 
	 	General Partner	 	 	 
	 	 	 	 	 
	Signature:	/s/ Douglas Boothe	 	Signature:	/s/ Alon Seri-Levy
	 	 	 	 	 
	Name:	 Douglas Boothe	 	Name:	Alon Seri-Levy
	 	 	 	 	 
	Title:	Executive Vice President and General Manager, Rx Pharmaceuticals for Perrigo	 	Title:	Chief Financial Officer
	 	 	 	 	 
	Date:	10/26/2015	 	Date:	10/26/2015

 

    [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.Exhibit 10.1 

 

AMENDMENT
NO. 1 TO INTERCOMPANY REVOLVING LOAN AGREEMENT

 

This
Amendment No. 1 to Intercompany Revolving Loan Agreement (this "Amendment") is entered into as of August 31, 2017
by and between Apollo Medical Management, Inc. ("Lender") and Maverick Medical Group, Inc. ("Borrower") with
reference to the following facts:

 

WHEREAS,
Lender and Borrower originally entered into that certain Intercompany Revolving Loan Agreement dated as of November 22, 2016 (the
"Original Agreement"); and

 

WHEREAS,
the Original Agreement provided, among other things, for a Commitment equal to Two Million Dollars ($2,000,000) extended by Lender
in favor of Borrower; and

 

WHEREAS,
Borrower has requested that Lender increase the Commitment; and

 

WHEREAS,
Lender is willing to increase the Commitment on the terms and conditions provided for in this Amendment.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto hereby
agree as follows:

 

1.       All
terms not defined in this Amendment shall have the meanings ascribed to them in the Original Agreement.

 

2.       Section
1.3 of the Original Agreement is deleted in its entirety and replaced with the following: "1.3 "Commitment" shall
mean an amount equal to Three Million Dollars ($3,000,000.00)".

 

3.       Except
to the extent expressly provided for herein, all terms and conditions of the Original Agreement remain in full force and effect.

 

IN
WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

  

	 	MAVERICK MEDICAL GROUP, INC.
	 	 
	 	By:	/s/ Warren Hosseinion
	 	Name: Warren Hosseinion
	 	Title: Chief Executive Officer
	 	 
	 	APOLLO MEDICAL MANAGEMENT, INC.
	 	 
	 	By:	/s/ Mihir Shah
	 	Name: Mihir Shah
	 	Title: Chief Financial OfficerExhibit 10.2

 

AMENDMENT
NO. 1 TO SUBORDINATION AGREEMENT

 

This
Amendment No. 1 to Subordination Agreement (this "Amendment") is entered into as of August 31, 2017 by and between
Apollo Medical Management, Inc. ("Lender") and Maverick Medical Group, Inc. ("Borrower") with reference to
the following facts:

 

WHEREAS,
Lender and Borrower originally entered into that certain Subordination Agreement dated as of November 22, 2016 (the "Original
Agreement"); and

 

WHEREAS,
the Original Agreement provided, among other things, that Lender would subordinate, to all other present and future creditors,
all right, title and interest in and to repayment of a revolving loan in an amount not to exceed Two Million Dollars ($2,000,000)
extended by Lender in favor of Borrower (the “Loan”) pursuant to that certain Intercompany Revolving Loan Agreement,
dated as of November 22, 2016 (the “Loan Agreement”); and

 

WHEREAS,
Lender and Borrower are entering into that certain Amendment No. 1 to the Intercompany Revolving Loan Agreement on or about the
date hereof, a copy of which is attached hereto as Exhibit “A” (the “Loan Agreement Amendment”), pursuant
to which the amount of the Loan commitment will be increased to Three Million Dollars ($3,000,000); and

 

WHEREAS,
Lender and Borrower desire to amend the Original Agreement to reflect the Loan Agreement Amendment and the increase in the Loan
commitment to Three Million Dollars ($3,000,000). 

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto hereby
agree as follows:

 

1.       All
terms not defined in this Amendment shall have the meanings ascribed to them in the Original Agreement.

 

2.       Recital
C of the Original Agreement is hereby amended and restated to read in full as follows:

 

In order to assist Borrower,
as an RBO, in meeting the financial solvency requirements of the Act and Rules, Lender has loaned or will loan to Borrower, from
time to time, an amount or amounts not to exceed Three Million Dollars ($3,000,000) outstanding at any one time (the “Loan”),
under the terms and conditions specified in that certain Intercompany Revolving Loan Agreement dated as of even date herewith,
as amended by that certain Amendment No. 1 to Intercompany Revolving Loan Agreement dated as of August 31, 2017 (the “Loan
Agreement”), a copy of which is attached hereto as Exhibit “A” and incorporated herein by this reference.

 

3.       Exhibit
“A” of the Original Agreement is amended by adding to the end of such exhibit a copy of the Loan Agreement Amendment
attached to this Amendment as Exhibit “A”.

 

4.       Notwithstanding
anything in this Agreement or the Loan Agreement to the contrary, this Amendment shall not become effective unless and until the
Director of DMHC consents in writing to this Amendment.

 

5.       Except
to the extent expressly provided for herein, all terms and conditions of the Original Agreement remain in full force and effect.

 

     

     

    

  

IN
WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

  

	 	MAVERICK MEDICAL GROUP, INC.
	 	 
	 	By:	/s/ Warren Hosseinion
	 	Name: Warren Hosseinion
	 	Title: Chief Executive Officer
	 	 
	 	APOLLO MEDICAL MANAGEMENT, INC.
	 	 
	 	By:	/s/ Mihir Shah
	 	Name: Mihir Shah
	 	Title: Chief Financial Officer

 

     

     

    

  

Exhibit “A”

 

Amendment No. 1 to Intercompany Loan Agreement

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