Document:

Exhibit 10.1

 

NEITHER THE ISSUANCE NOR SALE OF THE SECURITIES
REPRESENTED BY THIS NOTE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES
MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED
UNDER SAID ACT.

 

	Principal Amount: $100,001.00	Issue Date: January 25, 2022

 

 

	
     

    PROMISSORY NOTE

     

  

FOR VALUE RECEIVED, VPR
Brands, LP, a Delaware limited partnership (the “Company”), hereby promises to pay to the order of Kevin Frija or registered
assigns (the “Holder”) on January 25th, 2023 (the “Maturity Date”), the principal amount set forth above (the
“Principal Amount”), and to pay interest on the outstanding Principal Amount at the rate of Twenty Four percent (24%) per
annum (the “Note”). Interest shall commence accruing on the date hereof (the “Issue Date”), computed on the basis
of a 365-day year and the actual number of days elapsed, provided that any payment otherwise due on a Saturday, Sunday or legal Bank holiday
may be paid on the following business day. All payments due hereunder, shall be made in lawful money of the United States of America.

 

1.       Transfers
of Note to Comply with the 1933 Act. The Holder agrees that this Note may not be sold, transferred,
pledged, hypothecated or otherwise disposed of except as follows:  (a) to a person whom the Note may legally be transferred
without registration and without delivery of a current prospectus under the 1933 Act with respect thereto and then only against receipt
of an agreement of such person to comply with the provisions of this Section 1 with respect to any resale or other disposition of the
Note; or (b) to any person upon delivery of a prospectus then meeting the requirements of the 1933 Act relating to such securities and
the offering thereof for such sale or disposition, and thereafter to all successive assignees.

 

2.       Right
of Prepayment. The Company may repay any amount of the Note at any time. On each business
day, the Holder may deduct one (1) ACH payment from the bank account of the Borrower (as specified on Exhibit “A” of this
Note) in the amount of $500.00 per business day until such time as the Borrower has paid an amount equal to the principal and accrued
interest as set forth in the Note. Each such payment shall be applied first to accrued and unpaid interest and the balance shall be applied
towards the reduction of the principal amount due under this Note.

 

3.       Representations
and Warranties.  The Company represents and warrants to the Holder that:

 

		(a)	such party is duly organized, validly existing and in good standing (if applicable) under the laws of
the jurisdiction of its organization;

 

		(b)	such party has authority to own its property and assets and to carry on its business as now conducted,
except, in each case, where the failure to do so, or so possess, individually or in the aggregate would not reasonably be expected to
result in a material adverse effect;

 

		(c)	such party has all requisite organizational power and authority to execute and deliver and perform all
its obligations under this Note;

 

		(d)	such party is qualified to do business in, and is in good standing (where such concept exists) in, every
jurisdiction in which the nature of its business or the ownership or leasing of its properties makes such

     

     

    

qualification necessary, except where the failure to be so qualified
or in good standing individually or in the aggregate would not reasonably be expected to result in a material adverse effect;

 

		(e)	the transactions contemplated hereby is within such party’s organizational powers and have been
duly authorized by all necessary corporate or limited liability company action;

 

		(f)	this Note has been duly executed and delivered by such party and constitutes a legal, valid and binding
obligation of such party, enforceable in accordance with its terms; and

 

		(g)	the transactions to be entered into and contemplated by this Note (a) do not require any consent or
approval of, registration or filing with, or any other action by, any governmental authority except for the Company’s disclosure
obligations under federal securities laws, (b) will not (i) violate any applicable law or (ii) the organizational documents, bylaws, charter,
operating agreement, certificate of formation or certificate of incorporation of such party, (c) will not violate or result in a
default under any indenture or any other agreement, instrument or other evidence of indebtedness, and (d) will not result in the
creation or imposition of any lien on any asset of such party.

 

4.       Remedies
Upon Default.  In the event that the Company defaults on its payment obligations under
this Note, the Holder may proceed to protect and enforce its rights and remedies under this Note by suit in equity, action at law or other
appropriate proceeding, whether for the specific performance of any covenant or agreement contained in this Note and proceed to enforce
the payment thereof or any other legal or equitable right of the Holder.

 

5.       Cancellation
of Note. Upon the repayment by the Company of all of its obligations hereunder to the Holder,
including, without limitation, the principal amount of this Note, plus accrued but unpaid interest, the indebtedness evidenced hereby
shall be deemed canceled and paid in full.  Payments received by the Holder hereunder shall be applied first against interest
accrued on this Note, and next in reduction of the outstanding principal balance of this Note.

 

6.       Severability.  If
any provision of this Note is, for any reason, invalid or unenforceable, the remaining provisions of this Note will nevertheless be valid
and enforceable and will remain in full force and effect.  Any provision of this Note that is held invalid or unenforceable
by a court of competent jurisdiction will be deemed modified to the extent necessary to make it valid and enforceable and as so modified
will remain in full force and effect.

 

7.       Amendment
and Waiver.  This Note, or any provision of this Note, may only be amended or waived
if set forth in a writing executed by the Company and Holder.  The waiver by Holder of a breach of any provision of this Note
shall not operate or be construed as a waiver of any other breach.

 

8.       Successors.  Except
as otherwise provided herein, this Note shall bind and inure to the benefit of and be enforceable by the Holder and its permitted successors
and assigns.

 

9.       Assignment.  This
Note shall not be directly or indirectly assignable or delegable by the Company or the Holder, except as provided in a writing executed
by the Company and Holder.

 

10.   Further
Assurances.  The Holder will execute all documents and take such other actions as the
Company may reasonably request in order to consummate the transactions provided for herein and to accomplish the purposes of this Note.

 

11.   Notices,
Consents, etc.  Any notices, consents, waivers or other communications required or
permitted to be given under the terms hereof must be in writing and will be deemed to have been delivered:  (i) upon receipt,
when delivered personally; (ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically
generated and kept on file by the sending party); or (iii) one (1) business day after deposit with a nationally recognized overnight delivery
service, in each case properly addressed to the party to receive the same.  The addresses and facsimile numbers for such communications
shall be:

 

	If to Company:	
    VPR BRANDS, LP

    3001 Griffin Road

    Fort Lauderdale, FL 33312

     

     

    

 

	 	
    Attention: Kevin Frija

    Telephone: 954.715.7001

    Facsimile: Kevin.Frija@vprbrands.com

	 	 
	With a Copy to (which shall not constitute notice):	
     

    Anthony LG, PLLC

    Attention: Laura E. Anthony, Esq.

     

	 	 
	If to the Holder:	
    Kevin Frija

    Attention:

    Telephone:

    Facsimile: ______________________

	 	 

or at such other address and/or facsimile
number and/or to the attention of such other person as the recipient party has specified by written notice given to each other party three
(3) trading days prior to the effectiveness of such change.  Written confirmation of receipt (A) given by the recipient of such
notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender's facsimile machine containing
the time, date, recipient facsimile number and an image of the first page of such transmission or (C) provided by a nationally recognized
overnight delivery service, shall be rebuttable evidence of personal service, receipt by facsimile or receipt from a nationally recognized
overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

12.   Governing
Law.  Except in the case of the Jurisdiction provisions of Section 13 below, this Note
shall be delivered and accepted in and shall be deemed to be contracts made under and governed by the internal laws of the State of Delaware,
and for all purposes all questions concerning the construction, validity and interpretation of this Note and any and all disputes or controversies
arising out of the subject matter hereof (whether by contract, tort or otherwise) shall be governed by and construed in accordance with
the domestic laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision (whether of the State
of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Florida.

 

13.   Jurisdiction.  EACH
PARTY HERETO AGREES THAT JURISDICTION AND VENUE IN ANY ACTION BROUGHT BY THE HOLDER PURSUANT TO THIS NOTE SHALL PROPERLY (BUT NOT EXCLUSIVELY)
LIE IN ANY FEDERAL OR STATE COURT LOCATED IN BROWARD COUNTY, FLORIDA.  BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY
HERETO IRREVOCABLY SUBMITS TO THE JURISDICTION OF SUCH COURTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY WITH RESPECT TO SUCH ACTION.  EACH
PARTY HERETO IRREVOCABLY AGREES THAT VENUE WOULD BE PROPER IN SUCH COURT, AND HEREBY WAIVES ANY OBJECTION THAT SUCH COURT IS AN IMPROPER
OR INCONVENIENT FORUM FOR THE RESOLUTION OF SUCH ACTION.  EACH PARTY HERETO FURTHER AGREES THAT THE MAILING BY CERTIFIED OR
REGISTERED MAIL, RETURN RECEIPT REQUESTED, OF ANY PROCESS REQUIRED BY ANY SUCH COURT SHALL CONSTITUTE VALID AND LAWFUL SERVICE OF PROCESS
AGAINST THEM, WITHOUT NECESSITY FOR SERVICE BY ANY OTHER MEANS PROVIDED BY STATUTE OR RULE OF COURT.

 

14.    No
Inconsistent Agreements.  No party hereto will hereafter enter into any agreement,
which is inconsistent with the rights granted to the Holder in this Note.

 

15.   Third
Parties.  Nothing herein expressed or implied is intended or shall be construed to
confer upon or give to any person or entity, other than the Holder and its permitted successor and assigns, any rights or remedies under
or by reason of this Note.

  

16.   Waiver
of Jury Trial.  EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS NOTE. EACH PARTY HERETO CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE,
AGENT OR ATTORNEY OF THE HOLDER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE HOLDER WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER, (B) EACH PARTY HERETO UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH 

     

     

    

 

PARTY HERETO MAKES THIS WAIVER VOLUNTARILY,
AND (D) EACH PARTY HERETO HAS BEEN INDUCED TO ENTER INTO THIS NOTE BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

17.   Usury
Savings Clause. Notwithstanding any provision in this Note to the contrary, the total
liability for payments of interest and payments in the nature of interest, including, without limitation, all charges, fees, exactions,
or other sums which may at any time be deemed to be interest, shall not exceed the limit imposed by the usury laws of the jurisdiction
governing this Note or any other applicable law. In the event the total liability of payments of interest and payments in the nature of
interest, including, without limitation, all charges, fees, exactions or other sums which may at any time be deemed to be interest, shall,
for any reason whatsoever, result in an effective rate of interest, which for any month or other interest payment period exceeds the limit
imposed by the usury laws of the jurisdiction governing this Note, all sums in excess of those lawfully collectible as interest for the
period in question shall, without further agreement or notice by, between, or to any party hereto, be applied to the reduction of the
outstanding principal balance due hereunder immediately upon receipt of such sums by the Holder hereof, with the same force and effect
as though the Company had specifically designated such excess sums to be so applied to the reduction of the principal balance then outstanding,
and the Holder hereof had agreed to accept such sums as a penalty-free payment of principal; provided, however, that the Holder may, at
any time and from time to time, elect, by notice in writing to the Company, to waive, reduce, or limit the collection of any sums in excess
of those lawfully collectible as interest, rather than accept such sums as a prepayment of the principal balance then outstanding. It
is the intention of the parties that the Company does not intend or expect to pay, nor does the Holder intend or expect to charge or collect
any interest under this Note greater than the highest non-usurious rate of interest which may be charged under applicable law.

 

18.   Entire
Agreement.  This Note (including any recitals hereto) set forth the entire understanding
of the parties with respect to the subject matter hereof, and shall not be modified or affected by any offer, proposal, statement or representation,
oral or written, made by or for any party in connection with the negotiation of the terms hereof, and may be modified only by instruments
signed by all of the parties hereto.

 

 

[Signature page to follow]

     

     

    

 

 

IN WITNESS WHEREOF, this
Note is executed by the undersigned as of the date hereof.

 

  

	VPR BRANDS, LP	 
	
    By: Soleil Capital Management LLC,

    its General Partner
	 
	 	 
	 	 
	By: /s/ Kevin Frija                                       	 
	Name: Kevin Frija	 
	Title:   Manager and Chief Executive OfficerEX-10.1

 Exhibit 10.1 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND
(II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.
 AMENDMENT No. 3 

to the Exclusive License and Collaboration Agreement 

between Novartis Pharma AG and Amgen Inc. 

This Amendment No. 3 (“Amendment”) is entered into as of January 31, 2022, with effect from and after January 1, 2022
(“Amendment No. 3 Effective Date”) by and between Novartis Pharma AG a Swiss corporation having its principal place of business at Lichtstrasse 35, CH-4056 Basel,
Switzerland (“Novartis”) and Amgen Inc., a Delaware corporation having its principal place of business at One Amgen Center Drive, Thousand Oaks, California 91320-1799, USA (“Amgen”). Novartis and Amgen
are each referred to individually as a “Party” and together as the “Parties”. 
 WHEREAS, Novartis and
Amgen are parties to an Exclusive License and Collaboration Agreement dated August 28, 2015 and amended as of April 21, 2017 (the “Agreement”) concerning the development and commercialization of the Licensed Products. 

WHEREAS, Amgen and Novartis are parties to that certain Collaboration Agreement, dated April 21, 2017, as amended and restated as of
June 2, 2021, with respect to the Commercialization of, and Medical Affairs Activities for, Franchise Product 1 in the United States (the “US Collaboration Agreement”). 

WHEREAS, simultaneously herewith, the Parties are entering into a Confidential Settlement Agreement and Release and a Stipulation of Dismissal
to resolve the litigation captioned Novartis Pharma AG v. Amgen, Inc., No. 1:19-CV-2993 (S.D.N.Y.) and Amgen, Inc. v. Novartis Pharma AG, No. 1:19-CV-3003 (the “Settlement”) and (ii) mutually agreeing to terminate the US Collaboration Agreement pursuant to the entry into an agreement to
terminate the US Collaboration Agreement (the “US Termination Agreement”). 
 WHEREAS, the Parties mutually desire to
amend, modify and restate certain terms and conditions of the Agreement in connection with the Settlement and the US Termination Agreement. 

NOW THEREFORE, in consideration of the premises and the mutual covenants herein contained, it is mutually agreed as follows: 

 

	1.	 DEFINITIONS 

Unless otherwise defined herein, capitalized words in this Amendment shall have the meaning attributed to them in the Agreement. 

	2.	 AMENDMENTS 

The Parties agree that, as of the Amendment No. 3 Effective Date, the Agreement is amended as set forth in this Section 2. 

 

	2.1	 Solely with respect to those provisions of the Agreement not hereby amended in this Amendment, Novartis’
and Amgen’s rights and obligations under the Agreement with respect to Franchise Product 1 in the United States are subject to the terms and conditions set forth in the US Termination Agreement. 

 

	2.2	 The following sentence shall be added to the Recitals: 

“WHEREAS, Amgen and Novartis have mutually agreed to terminate the US Collaboration Agreement as of the Amendment No. 3 Effective
Date.” 
  

	2.3	 The following definitions shall be added to Article 1 in appropriate alphabetical order: 

“Costs” means both internal and external costs and expenses (including the cost of allocated FTEs at the applicable U.S. FTE
Rate). 
 “FP1 Development Costs” has the meaning set forth in Section 9.7.2(a). 

“FP1 Development Cost Cap” has the meaning set forth in Section 9.7.2(a). 

“MSL Cap” has the meaning set forth in Section 9.7.2(b). 

“United States Brand Plan” means the high-level cross-functional Commercialization plan developed by Amgen (subject to review
of the JSC) for Franchise Product 1 in the United States and consistent with the Global Brand Plan. 
 “U.S. FTE Rate” means
[***] per FTE per year (as of the Amendment No. 3 Effective Date), increasing by [***] of the then-current U.S. FTE Rate on [***] and each subsequent Calendar Year. The U.S. FTE Rate includes costs associated with salaries, payroll
taxes, bonuses, benefits, recruiting, relocation, employee stock option programs or stock grants, retirement programs, and applicable overhead (e.g., facilities, operating supplies, travel and training). 

“U.S. Medical Affairs Activities Costs” means Costs incurred by Amgen and its Affiliates during the Term associated with
Medical Affairs Activities in the United States to the extent incurred in accordance with the applicable Development Budget. 
 “U.S.
Medical Affairs Completion Date” has the meaning set forth in Section 9.7.2(b). 
 “U.S. Medical Affairs Non-MSL Costs” means the U.S. Medical Affairs Activity Costs that are not related to the FTE costs of the Medical Liaisons for Franchise Product 1 in the United States, which includes by way of example the
activities set forth in subclauses (ii) and (iii) of Section 1.103 (Medical Affairs Activities). 

	2.4	 Section 1.33 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “1.33 “Development Costs” means the direct costs incurred by a Party and its
Affiliates during the Term and pursuant to this Agreement for the Development of and Medical Affairs Activities with respect to a Licensed Product(s), calculated as the sum of
(i) Out-of-Pocket Development Expenses, (ii) Development FTE Costs and (iii) Other Development Expenses, each only to the extent incurred in accordance
with the Development Plan and Development Budget after the Effective Date. For clarity, “Development Costs” does not include any costs associated with conducting any Phase 4 Clinical Trials or lifecycle management activities unless
the Parties otherwise agree to include a Phase 4 Clinical Trial or lifecycle management activities in the Development Plan.” 
  

	2.5	 Section 3.2.5 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “3.2.5 JSC Oversight of the United States. The JSC shall review and discuss the United States Brand Plan,
solely to ensure alignment with the Global Brand Plan. 
  

	2.6	 The final sentence of Section 3.2.6 of the Agreement is hereby deleted in its entirety and replaced with
the following: 

 “In connection with the transition of the Commercialization and Medical Affairs Activities with
respect to Franchise Product 1 in the Field in the United States solely to Amgen, each of the Joint US Leadership Team, US Collaboration Team, US Medical Affairs JPT, US Committee and Joint Compliance Contacts (each, as defined in the US
Collaboration Agreement) have been disbanded as of June 2, 2021.” 
  

	2.7	 Section 3.5.3.1 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “3.5.3.1 The Amgen Co-Chair shall have the deciding vote with respect to
the Global Brand Plans and all Commercialization matters with respect to the Licensed Products outside the Territory.” 
  

	2.8	 The final sentence of Section 3.7 of the Agreement is hereby deleted in its entirety.

  

	2.9	 Section 3.8 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “3.8 Outside the Territory. Unless expressly set forth in this Agreement otherwise, Amgen shall have sole
decision-making authority with regard to Development, regulatory, Medical Affairs Activities, Manufacturing and Commercialization of Licensed Products outside the Territory. Novartis and its Affiliates shall not Commercialize or conduct Medical
Affairs Activities with respect to Licensed Products in any country outside the Territory.” 

	2.10	 The last sentence of Section 4.6 of the Agreement is hereby deleted in its entirety and replaced with the
following: 

 “Amgen agrees that it shall not seek to register or obtain ownership rights in any Novartis Housemark or
Licensed Novartis Trademark (or confusingly similar trademark) and Novartis agrees that it shall not seek to register or obtain ownership rights in any Amgen Housemark or Licensed Amgen Trademark or any trademark used by Amgen in connection with the
applicable Licensed Product outside the Territory in any indication (or confusingly similar trademark to any of the foregoing).” 
  

	2.11	 Section 4.8 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “4.8 Retained Rights and Limitations. No rights to either Party’s patents, trademarks or other
proprietary rights are granted pursuant to this Agreement except as expressly set forth herein, and all other rights are reserved. Subject to Section 2.3 (Development Prior to Option Exercise Date), Novartis shall not research, Develop,
Manufacture, conduct Medical Affairs Activities with respect to or Commercialize Franchise Product 3 prior to the Option Exercise Date or any Licensed Product outside the Territory and Amgen shall not research, Develop, conduct Medical Affairs
Activities with respect to or Commercialize any Licensed Product inside the Territory, in each case, other than as expressly set forth in this Agreement (including under a Development Plan). Notwithstanding the licenses granted in this Article 4
(Grant of License), each Party retains rights to perform (itself or through its Affiliates or contractors) its obligations under this Agreement.” 
  

	2.12	 The proviso in the third to last sentence of Section 5.1 of the Agreement is hereby deleted in its
entirety. 

  

	2.13	 Section 5.4.5 of the Agreement is hereby deleted in its entirety. 

 

	2.14	 Section 6.3 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “6.3 Commercialization Outside the Territory. Except as expressly set forth in this Agreement, and
subject to the US Termination Agreement, Amgen shall be solely responsible for the Commercialization of the Licensed Products outside the Territory and the costs thereof and Novartis shall have no rights or obligations with respect thereto.”

  

	2.15	 Section 7.4 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “7.4 [***] Divestiture. The notice provided pursuant to Section 7.3
(Post-Effective Date Affiliates) shall include a notification as to whether such Party intends to: (i) Divest the Distracting Program, in which case such Party shall hold separate such Distracting Program (including Segregating such Distracting
Program from the Collaboration) and use its commercially reasonable, good-faith efforts to Divest such Distracting Program; (ii) [***] such Distracting Program, in which case such Party shall [***] all activities of such program within [***] after
the closing of the Distracting Transaction, during which period such Party shall hold separate such Distracting Program (including Segregating such Distracting Program from the Collaboration); or (iii) in the case of Amgen only, [***] or, in
the case of Novartis, [***], in each case within [***] after the closing of the Distracting Transaction. In the event such Party selects to Divest the Distracting Program under subsection (i) and fails to complete such Divestiture within [***]
of the closing of the Distracting Transaction, then such Party shall be deemed to have chosen to terminate such Distracting Program and shall promptly, and no later than within [***] days, comply with the requirements of subsection
(ii) above.” 
  

	2.16	 The first sentence of Section 9.7.1 of the Agreement is hereby deleted in its entirety and replaced with
the following: 

 “In addition to the other payments referenced herein with respect to each Licensed Product, and
subject to Section 9.7.2 (Franchise Product 1 Development Cost Cap) with respect to Franchise Product 1, Novartis shall bear the percentage of Amgen Development Costs set forth in the “Novartis Share” column of the applicable chart
below and Amgen shall bear the percentage of Novartis Development Costs set forth in the “Amgen Share” column of the chart below, in each case, that are included in the applicable Development Budget.” 

 

	2.17	 The following language shall be added as a new Section 9.7.2 of the Agreement (and the remainder of
Section 9.7 to be renumbered accordingly): 

 “Franchise Product 1 Development Cost Cap. 

 

	 	(a)	 Subject to the provisions of this Section 9.7.2: 

(i) Novartis shall pay [***] of the Franchise 1 Product Development Costs (including U.S. Medical Affairs Activities Costs) (“FP1
Development Costs”) until such time as the FP1 Development Costs otherwise allocated to Amgen under the “Amgen Share” column of the chart in Section 9.7.1 (Development Cost Sharing) equals [***] in the aggregate (the
“FP1 Development Cost Cap”); and 
 (ii) After the FP1 Development Cost Cap has been reached, each Party shall pay
[***] of the FP1 Development Costs otherwise allocated to Amgen under the “Amgen Share” column of the chart in Section 9.7.1 (Development Cost Sharing). For clarity, after the FP1 Development Cost Cap has been reached, Novartis will
effectively pay [***] of all Development Costs for Franchise Product 1 (which includes (1) [***] of all Development Costs under the “Novartis Share” column of the chart in Section 9.7.1 (Development Cost Sharing) for Franchise Product
1 and (2) [***] of all Development Costs under the “Amgen Share” column of the chart in Section 9.7.1 (Development Cost Sharing) for Franchise Product 1) and Amgen will effectively pay [***] of all Development Costs for Franchise
Product 1. 
  

	 	(b)	 Notwithstanding the provisions of Section 9.7.2(a): 

 (i) Novartis shall have no obligation to fund Development Costs (A) solely relating to
Development of Franchise Product 1 for Regulatory Approval in Japan to the extent such costs are not included in the Development Budget as of the Amendment No. 2 Effective Date, or (B) [***]; and 

(ii) upon the later of (A) the FP1 Development Cost Cap having been achieved, and (B) [***] (such later time, the “U.S. Medical
Affairs Completion Date”), [***] shall no longer be considered Development Costs and all [***] shall be borne [***] by Amgen. 

(iii) Until the occurrence of the U.S. Medical Affairs Completion Date, (1) Amgen may [***]; (2) Amgen may [***] at the time of the
Amendment No. 3 Effective Date, on a pro rata basis for partial Calendar Years; and (3) Novartis is obligated to fund the foregoing [***] attributable to clauses (1) and (2) as part of its Development Cost funding obligations
under this Section 9.7.2. 
  

	2.18	 Section 9.7.3 of the Agreement (which, for clarity, is renumbered from Section 9.7.2 of the Agreement
pursuant to Section 2.17 above) is hereby deleted in its entirety and replaced with the following: 

 Annual
Development Budget Overruns. With respect to each Licensed Product, each Party shall promptly notify the other Party upon becoming aware that its Development Costs to be incurred in performing the applicable Development Plan for a Calendar Year
will be in excess of the amounts budgeted to be incurred by or on behalf of such Party for its activities in the applicable Annual Development Budget. If the aggregate Development Costs incurred by a Party for performing the applicable Development
Plan for a Calendar Year exceed the amounts budgeted to be incurred by or on behalf of such Party for its activities in the applicable Annual Development Budget, the other Party shall reimburse the performing Party for (i) the applicable
percentage set forth above of such excess, and (ii) in the case of Franchise Product 1, the applicable percentage set forth in Section 9.7.2 of such excess (i.e., Novartis reimbursing for [***] and thereafter, Novartis reimbursing
for [***] and Amgen reimbursing for [***]); provided that (a) in no event shall Novartis be responsible for reimbursement for such excesses to the extent the Amgen Development Costs in performing the Development Plan (I) for [***],
exceed the amounts budgeted to be incurred by or on behalf of Amgen for its activities in the applicable Annual Development Budget for [***], and (II) for [***], exceed the amounts budgeted to be incurred by or on behalf of Amgen for its
activities in the applicable Annual Development Budget for such Calendar Year by more than [***] percent ([***]%) and (b) in no event shall Amgen be responsible for reimbursement for such excesses to the extent the Novartis Development Costs in
performing the Development Plan for a Calendar Year exceed the amounts budgeted to be incurred by or on behalf of Novartis for its activities in the applicable Annual Development Budget for such Calendar Year by more than [***] percent ([***]%);
provided that a Party shall be responsible for reimbursement for such excesses to the extent that the Amgen Development Costs or Novartis Development Costs, as the case may be, are attributable to (I) a change in applicable Law,
(II) a Force Majeure event, (III) [***], (IV) [***], or (V) a mutually agreed amendment to the applicable Development Plan. 

	2.19	 Section 9.7.4 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “9.7.4 Payments. Based on the report received from the other Party pursuant to Section 9.7.3 (Reports),
the Party which has borne more than its share of Development Costs as determined pursuant to Section 9.7.1 (General) and, solely with respect to Development Costs with respect to Franchise Product 1, Section 9.7.2 (Franchise Product 1
Development Cost Cap) shall issue an invoice to the owing Party for such excess amount in accordance with Section 9.10 (Payment Method) within [***] after receiving the other Party’s report pursuant to Section 9.7.3 (Reports).”

  

	2.20	 The first two sentences of Section 9.11 (Audits) of the Agreement is hereby deleted in its entirety and
replaced with the following: 

 “Novartis shall keep complete and accurate records pertaining to Novartis Development
Costs and to the underlying revenue and expenses data relating to the calculation of Net Sales for the Licensed Products in the Territory in sufficient detail to permit Amgen to reasonably confirm the accuracy of all payments due hereunder,
including Amgen’s obligation to reimburse Novartis for Amgen’s share of Novartis Development Costs pursuant to Section 9.7 (Development Cost Sharing), including, solely with respect to Development Costs with respect to Franchise
Product 1, Section 9.7.2 (Franchise Product 1 Development Cost Cap). Amgen shall keep complete and accurate records pertaining to Amgen Development Costs of Licensed Products in sufficient detail to permit Novartis to reasonably confirm the
accuracy of all payments due hereunder with respect to Novartis’s obligation to reimburse Amgen for Novartis’s share of Amgen Development Costs pursuant to Section 9.7 (Development Cost Sharing), including, solely with respect to
Development Costs with respect to Franchise Product 1, Section 9.7.2 (Franchise Product 1 Development Cost Cap).” 
  

	2.21	 Section 10.2.2 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “10.2.2 Outside Territory. Amgen shall control and be solely responsible for all Patent and
Trademark Matters with respect to its patent rights, trademark rights and other intellectual property outside the Territory, at its sole cost and expense. Amgen shall control and be solely responsible for Patent and Trademark Matters with respect to
Joint Patents outside the Territory, at its sole cost and expense. Notwithstanding the other provisions of this Section 10.2.2 (Outside Territory), without the prior written consent of Novartis, Amgen shall not take any action (or fail to take
any action) with respect to such intellectual property or Joint Patents [***] that would reasonably be expected to [***] the Licensed Amgen Patents or the research, Development, conduct of Medical Affairs Activities with respect to, use or
Commercialization of Licensed Products [***].” 

	2.22	 The first sentence of Section 10.3.2 of the Agreement is hereby deleted in its entirety and replaced with
the following: 

 “From and after the Effective Date, with respect to Licensed Amgen Patents, Licensed Amgen
Trademarks and Joint Patents, in each case outside the Territory, (collectively, the “Ex-Territory Patents and Trademarks”) specific to Franchise Product 1 and Franchise Product
2, and from and after the Option Exercise Date, with respect to Ex-Territory Patents and Trademarks specific to Franchise Product 3, if a Third Party asserts that a patent right or other right owned by it is
infringed by the manufacture, use, offer for sale, sale, or importation of the Licensed Product outside the Territory, by Amgen, Amgen shall have the sole right to defend against any such assertions at its sole cost.” 

 

	2.23	 Section 10.4.2 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “10.4.2 Outside Territory. Amgen shall have the sole right, but not the obligation, to enforce its
patent rights, trademark rights and other intellectual properties, and the Joint Patents outside the Territory against any actual, alleged or threatened infringement or misappropriation by Third Parties outside the Territory, and to settle any such
matters in its sole discretion subject to Section 10.3 (Defense and Settlement of Third Party Claims). Novartis shall have no right to enforce such rights outside the Territory.” 

 

	2.24	 The last sentence of Section 10.6 of the Agreement is hereby deleted in its entirety and replaced with the
following: 

 “Amgen shall have the sole right to retain (i) any and all Recoveries from actions brought by Amgen
with respect to Territory Patents and Trademarks related to Franchise Product 3 prior to the Option Exercise Date, (ii) any and all recoveries with respect to the enforcement of any Amgen intellectual property or proprietary right or Joint
Patents outside the Territory, (iii) any and all Recoveries with respect to enforcement of Licensed Amgen Patents to the extent not specifically related to a Licensed Product and (iv) any and all Recoveries from actions brought by Amgen
after termination of this Agreement.”  
  

	2.25	 The second sentence of Section 11.1 of the Agreement is hereby deleted in its entirety and replaced with
the following: 

 “Novartis shall have no right to and shall not utilize any Confidential Information of Amgen for
activities outside the Territory except as required under the applicable Development Plan.” 
  

	2.26	 Section 11.6.1 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “present findings with respect to any Licensed Product at symposia and other meetings of healthcare professionals,
and international, national or regional congresses, conferences or meetings organized by a professional society or organization (any such occasion, a “Scientific Meeting”); provided, however, unless otherwise agreed by
the Parties, that (i) the Party presenting at any such Scientific Meeting shall have complied with the provisions of Section 11.6 (Publications and Presentations) and Section 11.7 (Scientific

 
Papers, Abstracts and Posters) with respect to such presentation, and, with respect to any such Scientific Meeting at which a Party is presenting, such presenting Party shall inform the other
Party of such Scientific Meeting and where invitation is required, invite the other Party to attend such Scientific Meeting; and (ii) a Party shall not organize or sponsor any satellite symposia in a country (a) in the case of Novartis,
outside the Territory, or (b) in the case of Amgen, within the Territory, without the other Party’s prior written consent, not to be unreasonably withheld;” 
  

	2.27	 Section 12.3 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “Disclaimer of Warranties. EXCEPT AS SET FORTH IN THIS ARTICLE 12 (REPRESENTATIONS, WARRANTIES AND
COVENANTS), NOVARTIS AND AMGEN EXPRESSLY DISCLAIM ANY AND ALL REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, WITH RESPECT TO THE COLLABORATION, THE LICENSED PRODUCTS, THE LICENSED AMGEN PATENTS, LICENSED AMGEN TRADEMARKS,
LICENSED AMGEN KNOW-HOW, LICENSED NOVARTIS PATENTS, LICENSED NOVARTIS TRADEMARKS, LICENSED NOVARTIS KNOW-HOW, THIS AGREEMENT, OR ANY OTHER SUBJECT MATTER RELATING TO
THIS AGREEMENT, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, VALIDITY OR NONINFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS. Except as set forth in this Article 12 (Representations, Warranties and Covenants), all
licenses by Novartis to Amgen under the Licensed Novartis Know-How and Licensed Novartis Patents shall be granted “as-is” and all licenses by Amgen to Novartis
under the Licensed Amgen Know-How, Licensed Amgen Trademarks and Licensed Amgen Patents shall be granted “as-is”.” 

 

	2.28	 Clause (viii) of Section 15.3.2 of the Agreement is hereby deleted in its entirety and replaced with
the following: 

 “(viii) Section 4.2 (Licensed Novartis Know-How and
Patents) (solely to the extent such intellectual property has been or is incorporated into or used in the Development, Manufacture, Medical Affairs Activities, regulatory activities or Commercialization of Licensed Products as of the date of
termination) shall survive [***];” 
  

	2.29	 The last sentence of Section 15.3.2 of the Agreement is hereby deleted in its entirety and replaced with
the following: 

 “In the event of any termination of this Agreement by Amgen pursuant to and as set forth in
Section 7.4 ([***] Divestiture), (a) the licenses granted to Novartis under Section 4.1 (Licensed Amgen Patents and Know-How) and under Section 4.5.1 (Grant to Novartis) (solely to the extent
such intellectual property has been or is incorporated into or used in the Development, Medical Affairs Activities, regulatory activities or Commercialization of Licensed Products as of the date of termination) shall survive, (b) Amgen shall
continue to Manufacture and supply Licensed Product for the Territory for a period of up to [***] months in accordance with the Supply Agreement, (c) Novartis shall continue to pay to Amgen royalties on annual Net Sales of each Licensed Product
in the Territory for each 

 
Calendar Year (or portion thereof) during the applicable Royalty Term pursuant to Section 9.1 (Royalty Payments); provided, that the royalties set forth in Section 9.1 (Royalty
Payments) shall [***] provided that in no event shall the royalties payable to Amgen for Franchise Product 1 [***] and for each of Franchise Product 2 and Franchise Product 3 [***], and (d) the Parties shall negotiate in good faith a process
for the transition of ongoing activities necessary to allow Novartis to exercise its rights under such license and allow Novartis to continue to Develop, Manufacture and Commercialize the Licensed Product in the Territory, including assistance from
Amgen for the transfer of Manufacturing to a contract manufacturing organization mutually agreed by the Parties.” 
  

	2.30	 Section 15.4 of the Agreement is hereby deleted in its entirety and replaced with the following:

 “15.4 Additional Surviving Provisions. In addition and without prejudice to the provisions of
Section 15.3 (Effect of Termination) and the provisions that are expressly stated to survive termination, in the event of any expiration or termination of this Agreement the following provisions shall survive: Articles 1 (Definitions), 11
(Confidentiality and Publications) (except with respect to Section 11.6 (Publications and Presentations), 11.7 (Scientific Papers; Abstracts and Posters), 11.8 (Deferral of Disclosures) and 11.9 (Failure to Object to Disclosure)); 13
(Limitations of Liability; Insurance); 14 (Indemnification); 15 (Term and Termination) and 16 (Miscellaneous); 9.1 (Royalty Payments) through 9.6 (No Wrongful Reductions) (inclusive) (with respect to sales made prior to such termination or, if
later, prior to completion of the transition by Novartis pursuant to Section 15.5 (Transition Period)); 9.7 (Development Cost Sharing) (with respect to Development Costs reasonably incurred prior to such termination); 9.8 (Sublicense Payments)
(with respect to amounts incurred prior to such termination); 9.10 (Payment Method) through 9.16 (Late Payment) (inclusive); 10.1 (Ownership and Cooperation); 10.6 (Allocation of Recoveries) (with respect to periods prior to termination); and 12.3
(Disclaimer of Warranties).” 
  

	3.	 INTEGRATION 

Except for the sections of the Agreement specifically amended hereunder, all terms and conditions of the Agreement remain and shall remain in
full force and effect. This Amendment shall hereafter be incorporated into and deemed part of the Agreement and any future reference to the Agreement shall include the terms and conditions of this Amendment. 

 

	4.	 APPLICABLE LAW & JURISDICTION 

This Amendment shall be governed by, and construed in accordance with, the laws which govern the Agreement, and the Parties submit to the
jurisdiction and dispute resolution provisions as set forth in the Agreement. 

	5.	 COUNTERPARTS 

This Amendment may be executed in counterparts with the same effect as if both Parties had signed the same document. All such counterparts
shall be deemed an original, shall be construed together and shall constitute one and the same instrument. Signature pages of this Amendment may be exchanged by facsimile or other electronic means without affecting the validity thereof. 

[Remainder of Page Intentionally Left Blank – Signature Page to Follow] 

 IN WITNESS WHEREOF, the Parties intending to be bound have caused this Amendment to be executed by their
duly authorized representatives. 
  

									
	NOVARTIS PHARMA AG	 		 	AMGEN INC.
					
	By:	 	 /s/ Neil Johnston
	 		 	By:	 	 /s/ Murdo Gordon

	Name:	 	Neil Johnston	 		 	Name:	 	Murdo Gordon
	Title:	 	Global Head BD&LPharma	 		 	Title:	 	Executive Vice President, Global Commercial Operations
	Date:	 	January 31, 2022	 		 		 	
		 		 		 	Date: January 31, 2022
					
	By:	 	 /s/ Gregor von Arx
	 		 		 	
	Name:	 	Gregor von Arx	 		 		 	
	Title:	 	Global Head Legal Neuroscience	 		 		 	
	Date:	 	January 31, 2022

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