Document:

EX-10.1

 Exhibit 10.1 

CONSENT AND WAIVER OF RIGHTS 

THIS CONSENT AND WAIVER OF RIGHTS (this “Consent and Waiver”) is granted effective as of June 18, 2015, by Alpha Capital
Anstalt (“Investor”). Any capitalized term used herein and not otherwise defined shall have the meaning provided in the Purchase Agreement (defined below). 

W I T N E S S E T H: 

WHEREAS, Investor is a party to that certain Purchase Agreement, dated as of July 22, 2013, by and between Provectus Pharmaceuticals,
Inc., a Nevada corporation, now known as Provectus Biopharmaceuticals, Inc., a Delaware corporation (“Provectus”), and each of the investors who are named as Investors therein (the “Purchase Agreement”); 

WHEREAS, pursuant to the terms and conditions of the Purchase Agreement, Investor has the right to buy from the Company, up to Thirty Million
Dollars ($30,000,000) of shares of the Company’s common stock, $0.001 par value (the “Common Stock”). The shares of Common Stock are referred to herein as the “Purchase Shares”; 

WHEREAS, Investor and Provectus wish to reduce (the “Purchase Share Reduction”) the Investor’s right to buy Purchase Shares
from Thirty Million Dollars ($30,000,000) to Ten Million Dollars ($10,000,000) to allow Maxim Group, LLC (“Maxim”) to sell additional securities under the Registration Statement in connection with that certain Underwriting Agreement by and
among Provectus, Maxim (as representative of the underwriters), and any additional underwriters parties thereto, dated as of June 19, 2015, pursuant to which Maxim and any underwriters represented by Maxim have committed to purchase shares of
Common Stock and warrants to purchase shares of Common Stock in an underwritten offering (the “Offering”); and 
 WHEREAS,
Investor consents to the Purchase Share Reduction, waives all rights with respect to the Purchase Shares subject to the Purchase Share Reduction, and hereby consents to the purchase and sale by Maxim (and any underwriters party to the Underwriting
Agreement) of the Purchase Shares subject to the Purchase Share Reduction. 
 NOW THEREFORE, in consideration of good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 1. Consent and
Waiver. Investor hereby consents to the Purchase Share Reduction and waives all rights in connection therewith. Investor retains all rights with respect to, and only with respect to, Investor’s right to buy from the Company, up to Ten
Million Dollars ($10,000,000) of shares of Common Stock. Investor waives any and all notice rights, solely with respect to the Purchase Share Reduction. Investor agrees to enter into any additional written agreements as may be necessary to
effectuate the foregoing. 
 2. Binding Effect. This Waiver shall be binding upon the parties and their respective successors and
assigns. 
 3. Governing Law. This Waiver shall be governed by and construed in accordance with the law of the State of New York.

 4. Counterparts. This Consent and Waiver may be executed in any number of counterparts, each of which will be deemed to be an
original but all of which together shall constitute one and the same instrument. 

 IN WITNESS WHEREOF, Investor and Provectus have executed this Consent and Waiver, as of the date
and year first above written. 
  

			
	INVESTOR:
	
	Alpha Capital Anstalt
		
	By:		 /s/ Konrad Ackermann

	Name:		 Konrad Ackermann

	Title:		 Director

  

			
	AGREED AND ACCEPTED:
	
	PROVECTUS:
	
	Provectus Biopharmaceuticals, Inc.
		
	By:		 /s/ Peter R. Culpepper

	Name:		 Peter R. Culpepper

	Title:		 CFO & COOex4-1.htm

Exhibit 4.1

 

PROMISSORY NOTE

 

	$150,000   	May 31, 2015

 

1.           Principal.    This promissory note (the “Note”) evidences the agreement by ASET Therapeutics, LLC, a Delaware limited liability company (the “Maker”), to pay to MetaStat, Inc., a Nevada corporation (“Payee”) on or before the dates set forth below (the “Maturity Date”), at the address designated in Section 6 hereof, or at such other place as may be designated from time to time by the holder of this Note, and without set-off or counterclaim, the principal aggregate sum of ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($150,000) in accordance with the terms of this Note.

 

2.           Interest Rate.    The principal outstanding under this Note shall not bear interest, unless and until the occurrence of an Event of Default, in which case all principal then outstanding under this Note shall bear interest from the date of the occurrence of the Event of Default until repayment thereof at an annual rate of eight percent (8%) per annum.

3.           Payments.    Principal due under this Note is payable as follows: (a) June 1, 2015 - $50,000; (b) July 1, 2015 - $50,000; and (c) August 1, 2015 - $50,000. All principal shall be due and payable as of the respective Maturity Date, without demand, offset or deduction.  Maker may prepay at any time without penalty any portion of the principal due under this Note.

4.           Default.    Each of the following shall constitute an Event of Default under this Note:  (a) the failure to make any payment required by this Note within five (5) days when due hereunder; (b) Maker dissolves or is wound up; or (c) Maker makes an assignment for the benefit of creditors, or commences or becomes subject to any case or proceeding under the Federal Bankruptcy Code or any other insolvency, receivership, reorganization, arrangement of debt, liquidation or debtor’s relief law wherein Maker is the debtor.

5.           Acceleration.    Upon the occurrence of any Event of Default under this Note, the entire unpaid principal sum of this Note, together with all other sums due hereunder, shall become immediately due and payable at the election of the holder of this Note, without presentment, demand, protest or notice of protest of any kind, all of which are hereby expressly waived.

6.           Notices.    Any notice, demand, request or other communication under this Note shall be in writing and shall be deemed to have been duly given: (a) on the date of service if served personally on the party to whom notice is to be given; (b) on the date of transmittal of such notice to such party by telecopier device capable of creating a written record of such notice and its receipt, with an original of such notice deposited in first class mail addressed as set forth below; or (c) forty-eight (48) hours following deposit of such notice in registered or certified mail, postage prepaid and return receipt requested, and addressed to such party at its address as hereinafter set forth or such other address as the parties may hereafter designate:

To Payee:              MetaStat, Inc.

Chief Executive Officer

27 Drydock Avenue

2nd Floor

Boston, MA 02210

To Maker:              ASET Therapeutics, LLC

1350 Treat Blvd., Suite 400

Walnut Creek, CA 94597

7.           Assignment.    Payee or any other holder of this Note shall have the right to sell, assign or otherwise transfer, in whole or in part, this Note, without consent of or notice to anyone.  Each purchaser, assignee or transferee of this Note shall be entitled to all rights and remedies of Payee hereunder.  Maker may not sell, assign or otherwise transfer all or any part of its rights or obligations hereunder without the prior written consent of the holder of this Note, and any such attempted transfer without such consent shall constitute an Event of Default hereunder and shall be null and void.

8.           Further Assurances.    Maker promptly shall make, execute, acknowledge and deliver, in form and substance satisfactory to the holder of this Note, all such additional instruments, agreements and other documents, and Maker shall do all other acts as may at any time be requested by holder, to effectuate and carry out the purpose of this Note.

9.           Successors and Assigns.    This Note shall be binding on and inure to the benefit of the respective legal and personal representatives, devisees, heirs, executors, successors and assigns of Payee and Maker.

10.           Severability.    If any term or provision of this Note, or the application of it to any party or circumstance, is held to be invalid or unenforceable, the remainder of this Note, and the application of such term or provision to any other party or circumstance, shall not be affected thereby, the provisions of this Note being severable in any such instance.

11.           Time of Essence.    Unless otherwise expressly set forth herein, all references in this Note to “days” shall mean and refer to calendar days.  Time is of the essence of this Note and each and every provision and obligation hereunder.

  

  

  

 

12.           Lawful Money.    Principal and any other sums payable hereunder shall be paid in lawful and immediately available money of the United States.

13.           Jurisdiction/Venue.    Maker and Payee hereby irrevocably submit to the jurisdiction and venue of federal court sitting in New York, New York, in any action or proceeding brought to enforce or otherwise arising out of or related to this Note, and each irrevocably waives to the fullest extent permitted by law any objection which either may now or hereafter have to the resting of such jurisdiction and venue in such forum, and hereby further irrevocably waives any claim that such forum is an inconvenient forum.  In the event any action is brought to enforce the terms hereof, the prevailing party shall be entitled to attorneys’ fees and costs.

14.           Governing Law.    This Note shall be governed by and construed in accordance with the internal laws of the State of New York, without reference to the provisions thereof regarding conflicts of laws.

 

	 	
 MAKER:

 

ASET Therapeutics, LLC,

a Delaware limited liability company

 

 

	 	/s/ David Epstein
	 	
By: David Epstein

Title: Manager

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