Document:

EX-10.5

 Exhibit 10.5 

THIS AMENDED AND RESTATED TRANSACTION FEE AGREEMENT (this “Agreement”) is made as of the 1st day of October 2018. 

BETWEEN: 
 EMMAUS LIFE SCIENCES, INC.

 21250 Hawthorne Blvd. 

Suite 800 
 Torrance, CA 90503

 (the “Company”) 
 OF
THE FIRST PART 
 AND: 
 T.R.
WINSTON & COMPANY, LLC 
 376 Main Street 

Bedminster, New Jersey 07921 

(the “Broker”) 
 OF THE
SECOND PART 
 W H E R E A S: 

A.    This Agreement amends and restates in its entirety that certain Transaction Fee Agreement, dated as of
August 24, 2018, between the Company and the Broker. 
 B.    The Company will enter into a Securities Purchase
Agreement (the “Purchase Agreement”) with the purchasers to be identified on the signature pages of the Purchase Agreement (collectively, the “Investors”) in connection with the placement of senior debentures in Emmaus Life
Sciences, Inc., and warrants in the Company, in the aggregate amount up to $12,200,000; 
 C.    The Broker is a licensed
broker-dealer with the Financial Industry Regulatory Authority; 
 D.    The Broker introduced the Company to the
Investors and assisted the Company in the transactions contemplated by the Notes; 
 E.    If the Company closes the
transaction contemplated herein, the Company wishes to reward the Broker for its services in the manner hereinafter set forth. 
 NOW,
THEREFORE, in consideration of the mutual covenants, promises, conditions, warranties and representations hereinafter set forth, the parties hereto agree as follows: 

1.    The Company agrees to compensate the Broker as follows: (i) five percent (5%) of the gross proceeds raised in
the offering, payable at the Closing (as defined in the Purchase Agreement), 

  
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and (ii) one hundred twenty thousand (120,000) 5-year warrants, identical to the Investor Warrants (the “Broker Warrants”) to Broker or its
designees at the Closing to purchase shares of common stock of Emmaus Life Sciences, Inc. with a strike price of $11.30 at the Closing of the transaction. The Broker Warrant shall vest immediately upon issuance. Fees and Broker Warrants shall be
paid to Broker in the manner and in the name designated by Broker. The Company agrees to reimburse the Broker $35,000 for its legal fees and expenses (provided, however, that such reimbursement amount in no way limits or impairs the
indemnification and contribution provisions of this Agreement). 
 2.    The parties hereto, and each of them, covenant
and agree that each of them shall and will upon reasonable request by the other party, make, do, execute or cause to be made, done or executed all such further and other lawful acts, deeds, things, devices and assurances whatsoever for the better or
more perfect and absolute performance of the terms and conditions of this Agreement. 
 3.    By execution hereof, the
Company acknowledges that the Broker does not provide investment advice or financial planning services. In that regard, the Broker is not registered as an investment adviser under the Investment Advisers Act of 1940, as amended, and cannot therefore
provide any advice regarding the desirability or value of purchasing, selling, transacting in, investing in, or holding any security. Rather, the Broker’s services will be limited to those properly provided by a licensed broker-dealer (T.R.
Winston & Company, LLC is registered with the FINRA as an “Introducing Broker/Dealer” or “K” broker/ dealer in accordance with Section 15 of the Securities and Exchange Act of 1934, as amended.) 

4.    The Company hereby agrees to indemnify and hold harmless the Broker, its managers, members, agents and employees
(collectively referred to as the Broker for purposes of this Section 4) from and against any and all claims, actions, suits, proceedings (including those of shareholders), damages, liabilities and expenses as incurred by any of them (including
the fees and expenses of counsel) which are related to or arise out of any actions taken or omitted to be taken (including any untrue statements made or omitted to be made) by the Company or any actions taken or omitted to be taken by the Broker
(except in the case of gross negligence or willful misconduct on the part of such Broker) in connection with the transactions contemplated by the Purchase Agreement or otherwise related to or arising out of the Broker’s activities on behalf of
the Company. The Company shall reimburse Broker for all expenses (including the fees and expenses of counsel) incurred by such Broker in connection with investigating, preparing or defending any such claim, action, suit or proceeding, including in
connection with pending or threatened litigation to which Broker is a party, except in the case of gross negligence or willful misconduct on the part of such Broker. 

5.    This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs,
administrators, successors and assigns. 
 6.    This Agreement shall be enforced, governed by and construed in
accordance with the laws of the State of New York applicable to agreements made and to be performed entirely within such State. In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of
law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law
shall not affect the validity or enforceability of any other provision hereof. The parties hereto hereby submit to the exclusive jurisdiction of the state courts or the United States Federal Courts located in New York with respect to any dispute
arising under this Agreement or the transactions contemplated hereby. The party which does not prevail in any dispute arising under this Agreement shall be responsible for all fees and expenses, including attorneys’ fees, incurred by the
prevailing party in connection with such dispute. 

  
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 7.    This Agreement consists of a total of three (3) pages. This
Agreement may be signed in any number of counterparts and the combination of the same shall constitute a binding agreement. A signed copy of this Agreement received via facsimile shall be deemed an original signature of a party for purposes of
making this Agreement a binding agreement. 
 Signature page to follow 

  
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 IN WITNESS WHEREOF the parties hereto have hereunto executed this Agreement as of and from
the day first above written. 
  

					
	EMMAUS LIFE SCIENCES, INC.
		
	By:	 	        /s/ YUTAKA NIIHARA
		 	Name:	 	Yutaka Niihara
		 	Title:	 	Chief Executive Officer
	
	T.R. WINSTON & COMPANY, LLC
		
	By:	 	        /s/ G. TYLER RUNNELS
		 	Name:	 	G. Tyler Runnels
		 	Title:	 	Chairman & Chief Executive Officer

  
 4EX-10.6

 Exhibit 10.6 

SECOND AMENDMENT TO SECURITIES PURCHASE AGREEMENT 

This Second Amendment (“Amendment”) amends that certain Securities Purchase Agreement dated September 13, 2018 (“SPA”) by and between
Emmaus Life Sciences, Inc., a Delaware corporation (“Emmaus”) and the Purchasers signatory thereto, as amended on September 24, 2018. Capitalized terms not otherwise defined herein have the meanings ascribed to them in the SPA. 

WHEREAS, Emmaus and the Purchasers desire to amend and restate the first sentence of Section 2.1 of the SPA in order to increase the
principal amount of Debentures being sold to $12,200,000. 
 WHEREAS, Emmaus and the Purchasers desire to amend and restate the definition
of Monthly Redemption Amount in the form of Debenture, attached as Exhibit A to the SPA to increase the aggregate dollar amount being redeemed per month to $1,000,000. 

NOW, THEREFORE, in consideration of the mutual promises, conditions, representations and warranties hereinafter set forth and for other good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto have mutually agreed as follows: 

1.    The foregoing recital is true and correct and incorporated herein. 

2.    The first sentence of Section 2.1 of the SPA is hereby amended to read, in its entirety, as follows: 

“On the Closing Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with the execution and delivery of
this Agreement by the parties hereto, the Company agrees to sell, and the Purchasers, severally and not jointly, agree to purchase, up to an aggregate of $12,200,000 in principal amount of the Debentures.” 

3.    The definition of “Monthly Redemption Amount” in the form of Debenture, attached as Exhibit A to the SPA, is
hereby amended to read, in its entirety as follows: 
 “‘Monthly Redemption Amount’ means, as to a Monthly Redemption,
$________1, plus accrued but unpaid interest and any other amounts then owing to the Holder in respect of this Debenture.” 

With the following footnote: 
 “1 such Holder’s pro
rata portion of $1,000,000 based on such Holder’s Subscription Amount divided by the aggregate Subscription Amount” 

4.    Except as set forth herein, all other terms and conditions contained in the Agreement and the form of Debenture that are not changed,
amended or modified through this Amendment shall remain unchanged and in full force and effect. 
 5.     In the case of conflict between
the provisions of the SPA and/or other Transaction Documents, on the one hand, and this Amendment on the other hand, the provisions of this Amendment will prevail. 

 6.    This Amendment may be executed in counterparts, all of which, when so executed and
delivered, shall be deemed an original, but all counterparts together shall constitute but one agreement. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or in electronic (i.e., “pdf”) format shall be
effective as delivery of a manually executed counterpart signature page. 
 [Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, this Second Amendment has been duly executed by or on behalf of
each of the parties as of the date first written above. 
  

			
	EMMAUS LIFE SCIENCES, INC.,
	a Delaware corporation
		
	By:	 	        /s/ WILLIS LEE
	Name: Willis Lee
	Title: Chief Operating Officer

  

	
	 AGREED AND ACCEPTED:

	 PURCHASERS:

	
	   

	
	   

	
	   

	
	   

	
	   

	
	   

	
	   

  
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