Document:

Exhibit 10.53

 

AMENDMENT TO LICENSE, DEVELOPMENT AND COMMERCIALIZATION
AGREEMENT

 

This AMENDMENT (the “Amendment”)
to the LICENSE, DEVELOPMENT and COMMERCIALIZATION AGREEMENT (the “Agreement”) dated June 28, 2019 between Acura Pharmaceuticals,
Inc. (“Acura”), a New York corporation, having a place of business at 616 N. North Court, Suite 120, Palatine, IL 60067,
and Abuse Deterrent Pharma, LLC (“AD Pharma”), a Kentucky partnership having a place of business at with offices at
333 E. Main Street, Suite 220, Louisville, Kentucky 40202, is made as of October 16, 2020.

 

RECITALS

 

WHEREAS, Acura and
AD Pharma are parties to the Agreement which became effective on June 28, 2019 and;

 

WHEREAS, the Parties
desire to amend the Agreement as set forth herein to provide for an extension to the LIMITxTM Regulatory Submission Timeline.

NOW THEREFORE, in consideration
of the mutual covenants and promises contained in the Agreement and this Amendment and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Acura and AD Pharma agree as follows:

 

ARTICLE
1

AMENDMENTS TO AGREEMENT

 

1.1             
A new Section 1.50 is hereby added to the Agreement as follows:

 

“Oxycodone Product”
means a pharmaceutical product containing the immediate-release combination of oxycodone hydrochloride and acetaminophen utilizing the
LIMITXTM Technology in the 5/325mg, 7.5/325mg and 10/325mg dosage strengths.

 

1.2             
Section 1.34 is hereby amended and replaced in its entirety as follows:

 

“Product”
means a pharmaceutical product containing the immediate-release combination of hydrocodone bitartrate and acetaminophen utilizing the
LIMITXTM Technology in the 5/325mg, 7.5/325mg and 10/325mg dosage strengths (the “Hydrocodone Product”) along
with the Alprazolam Product and the Oxycodone Product.

 

1.3             
Section 2.3 with respect to “Acura to use CRE” is hereby amended and replaced in its entirety as follows:

 

Acura to use
CRE. Acura shall use Commercially Reasonable Efforts to develop the Product in the United States, provided however, that any
obligation of Acura to develop the Alprazolam Product and the Oxycodone Product will be subject to a separate development agreement
to be negotiated between the Parties. Acura shall comply with all Applicable Laws in the development of the Product. For the
avoidance of doubt, Acura’s obligations to develop a Product and any related development timelines and milestones shall be
strictly limited to the Hydrocodone Product.

 

    Page 1 of 3

     

    

 

1.4             
Section 2.11 is hereby amended by inserting at the end:

 

The foregoing provisions
of this Section 2.11 are limited to the Hydrocodone Product.

 

1.5             
Section 3.1.1 of hereby amended and replaced in its entirety as follows:

 

In an aggregate amount
not to exceed Six Million Five Hundred Thousand Dollars ($6,500,000) (the “Maximum Pre-Regulatory Application Submission Payment”),
each month AD Pharma shall pay Acura in non-refundable, non-creditable payments in immediately available funds as follows:

 

		·	Three Hundred Fifty Thousand Dollars ($350,000) commencing within Five (5) days of the Effective Date
and continuing until April 2020; and

 

		·	Two Hundred Thousand Dollars ($200,000) commencing in May 2020 and continuing on the monthly anniversary
of the Effective Date until the earlier of July 2021 or such monthly payments have occurred or the Maximum Pre-Regulatory Application
Submission Payment is reached (as the timing of the latter, but not the amount, may be adjusted in accordance with Section 3.1.2).

 

1.6             
Section 3.4 is hereby amended and replaced in its entirety as follows, provided however that subsection 3.4.1 and 3.4.2 remain
as in the Agreement:

 

Sales Milestone
Payments. AD Pharma shall make the following one-time, non-refundable, non-creditable payments within forty-five (45) days after the
end of the year to Acura based on the attainment of the Net Sales in such calendar year for each Product and Product Line Extensions individually
(i.e. a separate payment for each of the Hydrocodone Product, the Alprazolam Product and the Oxycodone Product) in the Territory (the
 “Milestone Payments”):

 

1.7             
Section 3.12 “Option under Nexafed® Agreement” is hereby deleted in its entirety.

 

1.8             
Section 3.13 “Option for license to Alprazolam Product” is hereby deleted in its entirety.

 

1.9             
Item 3 of Schedule 1 “LIMITxTM Regulatory Application Submission Timeline” is hereby amended and replaced
in its entirety as follows:

 

3. By the last day
of the calendar month when the last of the monthly payments for the Maximum Pre-Regulatory Application Submission Payment has occurred,
or before, Acura must gain filing acceptance by the FDA of a Regulatory Approval Application for the Product.

 

    Page 2 of 3

     

    

 

For the avoidance
of doubt, Schedule 1 is strictly limited to activities and timelines related to the Hydrocodone Product.

 

ARTICLE
2

MISCELLANCEOUS

 

2.1             
Governing Law. This Amendment shall be governed by the laws of the State of New York without regard to its conflict of laws
rules or principles.

 

2.2             
Amendments. Except as expressly amended hereby, the Agreement shall remain unmodified and in full force and effect.

 

2.3             
Entire Agreement. This Amendment, the Agreement and the Schedules attached to the Agreement constitute the entire agreement
of the Parties with respect to the subject matter hereof and supersede all prior understandings and writings between the Parties relating
thereto.

 

2.4             
Interpretation. Any capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings provided
in the Agreement.

 

2.5             
Counterparts. This Amendment may be executed manually, electronically in Adobe® PDF file format, or by facsimile by the
Parties, in any number of counterparts, each of which shall be considered one and the same amendment and shall become effective when a
counterpart hereof shall have been signed by each of the Parties and delivered to the other Party.

 

IN WITNESS WHEREOF, the Parties hereto have
caused this Amendment to be executed in their names by their properly and duly authorized officers or representatives as of the date first
written above.

 

	ACURA PHARMACEUTICALS, INC.	 
	 	 
	s/s Robert B. Jones, 10/12/2020	 
	Name:   Robert B. Jones	 
	Title:     CEO and President	 

 

	Abuse Deterrent Pharma, LLC	 
	 	 
	s/s John Schutte, 10/16/2020	 
	Name:   John Schutte	 
	Title:    Managing Partner	 

 

    Page 3 of 3Exhibit 10.1

 

Meten EdtechX Education Group Ltd.

3rd Floor, Tower A Tagen Knowledge & Innovation
Center

2nd Shenyun West Road, Nanshan District

Shenzhen, Guangdong, China

 

March 26, 2021

 

Mr. Libin Ma

 

Piano, No.1 Haijing Road, Shiqi District, Zhongshan
City, Guangdong Province

 

	Re:	Director Appointment Letter 

 

Dear Mr. Ma,

 

Meten EdtechX Education Group
Ltd., a Cayman Islands company (the “Company”), is pleased to offer you a position as member of its board of directors
(the “Board”). We believe your background and experience will be a significant asset to the Company and we look forward
to your participation on the Board. Should you choose to accept this position as a member of the Board, this letter agreement (this “Agreement”)
shall constitute an agreement between you and the Company and contains all the terms and conditions relating to the services you agree
to provide to the Company.

 

1. Term. This
Agreement is effective upon your acceptance and signature below. Your term as a director shall commence upon you being appointed to the
Board. Subject to the Company’s memorandum and articles of association, as amended, and the provisions in Section 8 below, your
term shall continue until your successor is duly elected and qualified. The position shall be up for re-election each year at the annual
shareholder’s meeting, and upon re-election, the terms and provisions of this Agreement shall remain in full force and effect.

 

2. Services.
You shall render services as a member of the Board and the Board committees set forth on Schedule A attached hereto
(hereinafter your “Duties”). During the term of this Agreement, you shall attend and participate in such number of
meetings of the Board and of the Board committee(s) of which you are a member as regularly or specially called. You may attend and participate
at each such meeting via teleconference, video conference, or in person. You shall consult with the other members of the Board and Board
committee(s) as necessary via telephone, electronic mail, or other forms of correspondence.

 

3. Compensation.
As compensation for your services to the Company, you will receive compensation as set forth on Schedule B attached
hereto (hereinafter, the “Compensation”) for serving on the Board during your term as a director. You shall be reimbursed
for reasonable and pre-approved expenses incurred by you in connection with the performance of your Duties.

 

4. No Assignment.
Because of the personal nature of the services to be rendered by you, this Agreement may not be assigned by you without the prior written
consent of the Company.

 

5. Confidential Information;
Non-Disclosure. In consideration of your access to certain Confidential Information (as defined below) of the Company, in connection
with your business relationship with the Company, you hereby represent and agree as follows:

 

a. Definition.
For purposes of this Agreement the term “Confidential Information” means:

 

i. Any information
which the Company possesses that has been created, discovered, or developed by or for the Company, and which has or could have commercial
value or utility in the business in which the Company is engaged; or

 

ii. Any information
which is related to the business of the Company and is generally not known by non-Company personnel. 

 

iii. Confidential
Information includes, without limitation, trade secrets and any information concerning services provided by the Company, concepts, ideas,
improvements, techniques, methods, research, data, know-how, software, formats, marketing plans, and analyses, business plans and analyses,
strategies, forecasts, customer and supplier identities, characteristics and agreements.

 

b. Exclusions.
Notwithstanding the foregoing, the term “Confidential Information” shall not include:

 

i. Any information
which becomes generally available to the public other than as a result of a breach of the confidentiality portions of this Agreement,
or any other agreement requiring confidentiality between the Company and you;

 

    1

     

    

 

Meten EdtechX Education Group Ltd.

3rd Floor, Tower A Tagen Knowledge & Innovation
Center

2nd Shenyun West Road, Nanshan District

Shenzhen, Guangdong, China

 

ii. Information
received from a third party in rightful possession of such information who is not restricted from disclosing such information; and

 

iii. Information
known by you prior to receipt of such information from the Company, which prior knowledge can be documented.

 

c. Documents. You agree
that, without the express written consent of the Company, you will not remove from the Company's premises, any notes, formulas, programs,
data, records, machines, or any other documents or items which in any manner contain or constitute Confidential Information, nor will
you make reproductions or copies of same. You shall promptly return any such documents or items, along with any reproductions or copies,
to the Company upon the earliest of Company's demand, termination of this Agreement, or your termination or Resignation, as defined in
Section 8 herein.

 

d. Confidentiality. You
agree that you will hold in trust and confidence all Confidential Information and will not disclose to others, directly or indirectly,
any Confidential Information or anything relating to such information without the prior written consent of the Company, except as maybe
necessary in the course of your business relationship with the Company. You further agree that you will not use any Confidential Information
without the prior written consent of the Company, except as may be necessary in the course of your business relationship with the Company,
and that the provisions of this paragraph (d) shall survive termination of this Agreement.

 

e. Ownership. You agree
that Company shall own all right, title, and interest (including patent rights, copyrights, trade secret rights, mask work rights, trademark
rights, and all other intellectual and industrial property rights of any sort throughout the world) relating to any and all inventions
(whether or not patentable), works of authorship, mask works, designations, designs, know-how, ideas, and information made or conceived
or reduced to practice, in whole or in part, by you during the term of this Agreement and that arise out of your Duties (collectively,
“Inventions”) and you will promptly disclose and provide all Inventions to the Company. You agree to assist the Company,
at its expense, to further evidence, record and perfect such assignments, and to perfect, obtain, maintain, enforce, and defend any rights
assigned.

 

6. Non-Competition.
You agree and undertake that you will not, so long as you are a member of the Board and for a period of 12 months following termination
of this Agreement for whatever reason, directly or indirectly as owner, partner, joint venture, shareholder, employee, broker, agent principal,
corporate officer, director, licensor, or in any other capacity whatsoever, engage in, become financially interested in, be employed by,
or have any connection with any business or venture that is engaged in any activities involving services or products which compete, directly
or indirectly, with the services or products provided or proposed to be provided by the Company or its subsidiaries or affiliates in the
People’s Republic of China; provided, however, that you may own securities of any public corporation
which is engaged in such business but in an amount not to exceed at any one time, one percent of any class of stock or securities of such
company, so long as you has no active role in the publicly owned company as director, employee, consultant, or otherwise. 

 

7. Non-Solicitation.
So long as you are a member of the Board and for a period of 12 months thereafter, you shall not directly or indirectly solicit for employment
any individual who was an employee of the Company during your tenure.

 

8. Termination and Resignation.
Your membership on the Board may be terminated for any or no reason by an Ordinary Resolution, as defined in the Company’s Articles
of Association, as amended. Your membership on the Board or on any Board committee shall be terminated if you become of unsound mind or
are prohibited by law from being so. Your membership on any Board committee will be terminated on the same effective date when your membership
on the Board is terminated. You may also terminate your membership on the Board or on any Board committee for any or no reason by delivering
your written notice of resignation to the Company (“Resignation”), and such Resignation shall be effective upon the
time specified therein or, if no time is specified, upon receipt of the notice of Resignation by the Company. Upon the effective date
of the termination or Resignation, your right to compensation hereunder will be subject to the Company’s obligations to pay you
any compensation (including the vested portion of the Shares) that you have already earned and to reimburse you for approved expenses
already incurred in connection with your performance of your Duties as of the effective date of such termination or Resignation. Any Shares
that have not vested as of the effective date of such termination or Resignation shall be forfeited and cancelled.

 

    2

     

    

 

Meten EdtechX Education Group Ltd.

3rd Floor, Tower A Tagen Knowledge & Innovation
Center

2nd Shenyun West Road, Nanshan District

Shenzhen, Guangdong, China

 

9. Governing Law.
All questions with respect to the construction and/or enforcement of this Agreement, and the rights and obligations of the parties hereunder,
shall be determined in accordance with the internal laws of the State of New York without regard to conflict of laws provisions therein.

 

10. Entire Agreement;
Amendment; Waiver; Counterparts. This Agreement expresses the entire understanding with respect to the subject matter hereof and
supersedes and terminates any prior oral or written agreements with respect to the subject matter hereof. Any term of this Agreement may
be amended and observance of any term of this Agreement may be waived only with the written consent of the parties hereto. Waiver of any
term or condition of this Agreement by any party shall not be construed as a waiver of any subsequent breach or failure of the same term
or condition or waiver of any other term or condition of this Agreement. The failure of any party at any time to require performance by
any other party of any provision of this Agreement shall not affect the right of any such party to require future performance of such
provision or any other provision of this Agreement. This Agreement may be executed in separate counterparts each of which will be an original
and all of which taken together will constitute one and the same agreement, and may be executed using facsimiles of signatures, and a
facsimile of a signature shall be deemed to be the same, and equally enforceable, as an original of such signature.

 

11. Indemnification.
The Company shall, to the maximum extent provided under applicable law, indemnify and hold you harmless from and against any expenses,
including reasonable attorney’s fees, judgments, fines, settlements, and other legally permissible amounts (“Losses”),
incurred in connection with any third-party proceeding arising out of, or related to, your performance of your Duties, other than any
such Losses incurred as a result of your negligence, fraud, or willful misconduct. The Company shall advance to you any expenses, including
reasonable attorneys’ fees and costs of settlement, incurred in defending any such proceeding to the maximum extent permitted by
applicable law. Such costs and expenses incurred by you in defense of any such proceeding shall be paid by the Company in advance of the
final disposition of such proceeding promptly upon receipt by the Company of (a) written request for payment; (b) appropriate documentation
evidencing the incurrence, amount, and nature of the costs and expenses for which payment is being sought; and (c) an undertaking adequate
under applicable law made by or on your behalf to repay the amounts so advanced if it shall ultimately be determined pursuant to any non-appealable
judgment or settlement that you are not entitled to be indemnified by the Company.

 

12. Not an Employment
Agreement. This Agreement is not an employment agreement, and shall not be construed or interpreted to create any right for you
to continue employment with the Company.

 

13. Acknowledgement.
You accept this Agreement subject to all the terms and provisions of this Agreement. You agree to accept as binding, conclusive, and final
all decisions or interpretations of the Board of the Company of any questions arising under this Agreement.

 

[Signature Page Follows]

 

    3

     

    

 

Meten EdtechX Education Group Ltd.

3rd Floor, Tower A Tagen Knowledge & Innovation
Center

2nd Shenyun West Road, Nanshan District

Shenzhen, Guangdong, China

 

This Agreement has been executed
and delivered by the undersigned and is made effective as of the date set first set forth above.

 

	 	Sincerely,
	 	 
	 	Meten EdtechX Education Group Ltd.
	 	 
	 	/s/ Siguang Peng  
	 	By: Siguang Peng
	 	Title: Chief Executive Officer

 

AGREED AND ACCEPTED:

 

	/s/ Libin Ma	 
	By: Libin Ma  	 

 

    4

     

    

 

Meten EdtechX Education Group Ltd.

3rd Floor, Tower A Tagen Knowledge & Innovation
Center

2nd Shenyun West Road, Nanshan District

Shenzhen, Guangdong, China

 

Schedule A

 

The Director is offered to serve on the following
Board committee(s):

 

	Committee	 	Title
	Audit Committee	 	N/A
	Nominating and Corporate Governance Committee	 	N/A
	Compensation Committee	 	N/A

 

    5

     

    

 

Meten EdtechX Education Group Ltd.

3rd Floor, Tower A Tagen Knowledge & Innovation
Center

2nd Shenyun West Road, Nanshan District

Shenzhen, Guangdong, China

 

Schedule B

Compensation

 

During your term as a member of the Board, you
will receive cash compensation in the amount of US$0 per year.

 

 

6

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