Document:

TERMINATION AGREEMENT

EXHIBIT 10.3

AGREEMENT

This Agreement (the “Agreement”), dated as of February 1, 2016, by and between LIGHTWAVE LOGIC, INC. , a Nevada corporation, (the “Company”), and LINCOLN PARK CAPITAL FUND, LLC, an Illinois limited liability company (the “Investor”).

WHEREAS:

A.

The Company and the Investor are parties to a Purchase Agreement dated as of June 6, 2013 (the “Purchase Agreement”), pursuant to which, among other things, the Company has the right to sell to the Investor, at its sole discretion, up to $20,000,000 of the Company’s common stock, par value $0.001 per share (“Common Stock”), upon the terms and subject to the conditions of the Purchase Agreement;

B.

The Company and the Investor are parties to a Registration Rights Agreement dated as of June 6, 2013 (the “Registration Rights Agreement”), pursuant to which, among other things, the Company agreed to file a registration statement with the Securities and Exchange Commission (“SEC”) covering the Purchase Shares and Additional Commitment Shares of  issued and issuable pursuant to the Purchase Agreement; and

C.

The Company and the Investor desire to terminate the Purchase Agreement and the Registration Rights Agreement and all of their respective obligations thereunder by mutual agreement in accordance with the terms and subject to the conditions herein set forth; 

NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Investor hereby agree as follows:

1.

The Company and Investor hereby mutually agree to terminate the Purchase Agreement and the Registration Rights Agreement, and all of the Company’s and the Investor’s respective future covenants, agreements, obligations and commitments thereunder, effective as of the date hereof and any and all rights, duties and obligations arising thereunder or in connection with the Purchase Agreement, and the Transaction Documents (other than this Agreement) are now and hereafter fully and finally terminated, provided, however, that (i) the representations and warranties of the Investor and Company contained in Sections 3 and 4 of the Purchase Agreement, (ii) the indemnification provisions set forth in Section 9 of the Purchase Agreement, and (iii) the agreements and covenants set forth in Section 12 of the Purchase Agreement shall survive such termination in accordance with the Purchase Agreement.  This Agreement, the rights of the parties under and in connection herewith, and all actions arising in whole or part under or in connection herewith will be governed by and construed in accordance with the laws of the State of Illinois. The parties hereby irrevocably and unconditionally submit to the jurisdiction of any federal or state court located sitting in the City of Chicago, County of Cook and State of Illinois over any dispute for purposes of any action, suit or proceeding arising out of or relating to this Agreement. Each party irrevocably waives any objection it may 

have to the venue of any action, suit or proceeding brought in such court or to the convenience of the forum. No modification or waiver of any provision hereof shall be enforceable unless approved by the Investor in writing. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege. This Agreement may be executed in one or more counterparts, and by the different parties 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. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement.

2.

Any notices, consents or other communications required or permitted to be given under the terms of this Agreement 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 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 the Company:

Lightwave Logic, Inc.

1831 Lefthand Circle

Suite C

Longmont, CO. 80501

Telephone:

720-340-4949

Facsimile:

303-681-3378

Attention:  

James S Marcelli / Thomas E Zelibor

With a copy to:

K&L Gates LLP

200 South Biscayne Boulevard, Suite 3900

Miami, Florida 33131-2399

Telephone: 305-539-3306

Facsimile: 305-358-7095

Attention: Clayton E. Parker, Esq.

If to the Investor:

Lincoln Park Capital Fund, LLC

440 North Wells, Suite 410

Chicago, IL 60654

Telephone:

312-822-9300

Facsimile:

312-822-9301

Attention:

Josh Scheinfeld/Jonathan Cope

If to the Transfer Agent:

Nevada Agency and Transfer Company

50 West Liberty Street, Suite 880

Reno, NV 89501 

Tel: 775-322-0626

Fax: 775-322-5623

E-mail:

tiffany@natco.org

Attention: 

Tiffany Baxter

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) business days prior to the effectiveness of such change.  Written confirmation of receipt (A) given by the recipient of such notice, consent or other communication, (B) mechanically or electronically generated by the sender’s facsimile machine containing the time, date, and recipient facsimile number 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) of this Section 2, respectively.

[Signature Page Follows]

IN WITNESS WHEREOF, the Investor and the Company have caused this Agreement to be duly executed as of the date first written above.

			
	 
	THE COMPANY:

	 
	 
	 

	 
	LIGHTWAVE LOGIC, INC.

	 
	 
	 

	 
	By:

	/s/ Thomas E. Zelibor

	 
	Name: 

	Thomas E. Zelibor

	 
	Title: 

	Chairman and Chief Executive Officer

	 
	 
	 

	 
	 
	 

	 
	By:

	/s/ James S. Marcelli

	 
	Name: 

	James S. Marcelli

	 
	Title: 

	President and Chief Operating Officer

	 

	 
	 

	 
	 
	 

	 
	 
	 

	 
	INVESTOR:

	 
	 
	 

	 
	LINCOLN PARK CAPITAL FUND, LLC

	 
	BY: ROCKLEDGE CAPITAL CORPORATION 

	 
	 
	 

	 
	By:

	/s/ Josh Scheinfeld

	 
	Name: 

	Josh Scheinfeld

	 
	Title: 

	PresidentEX-10.1

 Exhibit 10.1 

SUPPORT AND VOTING AGREEMENT 

This SUPPORT AND VOTING AGREEMENT, dated as of January 29, 2016 (the “Agreement”), is entered into by and among
Annapurna Therapeutics SAS, a French simplified joint stock company (the “Company”), and the undersigned, a common stockholder of Avalanche Biotechnologies, Inc., a Delaware corporation (the “Stockholder” and
together with the Company, the “Parties” and each, a “Party”). 
 RECITALS 

WHEREAS, concurrently herewith, the Company, Parent, the Contributors and the Contributors’ Representative are entering into an
Acquisition Agreement (the “Acquisition Agreement”), pursuant to which the Contributors shall effect the Share Contribution in exchange for newly issued shares of Parent Common Stock issued by Parent to the Contributors upon the
terms and subject to the conditions set forth in the Acquisition Agreement (capitalized terms used but not defined herein shall have the meaning ascribed thereto in the Acquisition Agreement); 

WHEREAS, the Stockholder or one of its, his or her controlled affiliates (“Controlled Affiliates”; “controlled” and
“affiliate” as defined under the Exchange Act) is the record or beneficial owner (as determined under Rule 13d-3 of the Exchange Act) of shares of Parent Common Stock (“Shares”) as set forth on Schedule A
hereto (the Shares set forth on Schedule A and any additional Shares of which the Stockholder or any of its Controlled Affiliates acquires record or beneficial ownership after the date hereof, including, without limitation, by direct or
indirect purchase, grant or award, or following any stock split, stock dividend, merger, reorganization, recapitalization or other change in the capital structure of Parent affecting the Parent Common Stock, the Stockholder’s “Covered
Shares”); 
 WHEREAS, as a condition of and inducement to the Company and the Contributors’ willingness to enter into the
Acquisition Agreement and to proceed with the Transactions contemplated thereby, the Company has required the Stockholder to enter into this Agreement; and 

WHEREAS, the Stockholder acknowledges that each of the Company and the Contributors is entering into the Acquisition Agreement in reliance on
the representations, warranties, covenants and other agreements of the Stockholder set forth in this Agreement and would not enter into the Acquisition Agreement but for the execution and delivery of this Agreement by the Stockholder. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing and the covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 

	1.	Agreement to Vote. Subject to the terms hereof, at the Parent Stockholders’ Meeting or any other meeting of the stockholders of the Parent (whether annual or special and whether or not an adjourned or
postponed meeting), however called, except as otherwise approved in writing by the Company, the Stockholder (solely in its, his or her capacity as a stockholder of Parent) irrevocably and unconditionally agrees that it, he or she shall and shall
cause the holder of record of any Covered Shares to (a) appear at such meeting or otherwise cause the Covered Shares to be counted as present thereat for the purpose of establishing a quorum for such meeting and (b) vote, or cause to be
voted at such meeting, all Covered Shares (i) in favor of the Parent Common Stock Issuance and any other matters necessary for consummation of the Transactions contemplated in the Acquisition Agreement (including, for the avoidance of doubt,
following a Parent Board Adverse Recommendation Change), (ii) in favor of any proposal to adjourn the meeting of the stockholders of the Parent to solicit additional proxies to be voted in favor of the Parent Common Stock Issuance and
(iii) against (A) any Acquisition Proposal in respect of Parent (“Parent Acquisition Proposal”) or (B) any other action, agreement or transaction that is intended to or would reasonably be expected to prevent or
nullify any provision of this Agreement or impede, interfere with, delay, postpone or adversely affect the Transactions or any other obligation or agreement of Parent under the Acquisition Agreement. 

 

	2.	No Solicitation. The Stockholder (solely in its, his or her capacity as a stockholder of Parent) hereby covenants and agrees that it shall not and shall not authorize or permit its, his or her Controlled
Affiliates or Representatives to, directly or indirectly, as applicable, (a) solicit, initiate, seek, entertain, knowingly encourage, facilitate, support or induce the making, submission or announcement of any inquiry, expression of interest,
proposal or offer that constitutes, or would reasonably be expected to lead to a Parent Acquisition Proposal, (b) enter into, knowingly participate in, maintain or continue any communications (except solely to provide written notice as to the
existence of these provisions) or negotiations regarding, or deliver or make available to any Person any non-public information with respect to, or take any other action regarding, any inquiry, expression of interest, proposal or offer that
constitutes, or would reasonably be expected to lead to, a Parent Acquisition Proposal, except for the purpose of complying with Applicable Law, (c) agree to, accept, approve, endorse or recommend (or publicly propose or announce any intention
or desire to agree to, accept, approve, endorse or recommend) any Parent Acquisition Proposal, (d) enter into any letter of intent, term sheet, merger agreement, acquisition agreement, option agreement or any other Contract contemplating or
otherwise relating to any Parent Acquisition Proposal, (e) submit any Acquisition Proposal to the vote of any shareholders of the Company or (f) enter into any other transaction or series of transactions, the consummation of which would
impede, interfere with, prevent or delay, or would reasonably be expected to impede, interfere with, prevent or delay, the consummation of the Share Contribution or the other Transactions. Notwithstanding the foregoing, nothing herein shall prevent
any Stockholder or any Representative thereof from taking or participating in any action otherwise precluded pursuant to this Agreement that such person is entitled to take pursuant to the Acquisition Agreement in his or her capacity as an officer
or director of the Parent. 

  
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	3.	No Disposition or Adverse Act. The Stockholder hereby covenants and agrees that, except as contemplated by this Agreement, the Stockholder shall not (a) offer to Transfer (as defined below), Transfer or
consent to any Transfer of any or all of the Covered Shares or any interest therein without the prior written consent of the Company (other than Transfers by operation of law, in which case this Agreement shall bind the transferee), (b) enter
into any contract, option or other agreement or understanding with respect to any Transfer of all or any of the Covered Shares or any interest therein, (c) grant any proxy, power-of-attorney or other authorization in or with respect to any or
all of the Covered Shares or enter into any voting agreement, voting trust or similar agreement with respect to the Covered Shares other than as required to effect the Stockholder’s obligations hereunder. Any attempted Transfer of Covered
Shares or interest therein in violation of this Section 3 shall be null and void. Notwithstanding the foregoing, the Stockholder may Transfer Covered Shares under a trading plan pursuant to Rule 10b5-1 under the Exchange Act that is in
existence as of the date of this Agreement. “Transfer” means, with respect to any Covered Shares, the transfer, pledge, hypothecation, encumbrance, assignment or other disposition (whether by sale, merger, consolidation,
liquidation, dissolution, dividend, distribution or otherwise) of such Covered Share or the beneficial ownership thereof. 

  

	4.	Termination. This Agreement shall terminate upon the earliest of (a) the Closing, (b) the termination of the Acquisition Agreement in accordance with its terms and (c) the date on which none of the
Stockholder nor any of its, his or her Controlled Affiliates beneficially owns any Covered Shares (such earliest date, the “Termination Date”); provided, that the provisions set forth in Sections 7 through 21 shall survive
the termination of this Agreement; provided, further, that any liability incurred by any Party hereto as a result of a breach of a term or condition of this Agreement prior to such termination shall survive the termination of this
Agreement. 

  

	5.	Representations and Warranties of Stockholders. The Stockholder hereby represents and warrants to the Company as follows: 

(a)       Schedule A accurately and completely sets forth as of the date hereof the Shares of Parent
Common Stock of which the Stockholder or any of its, his or her Controlled Affiliates is the record or beneficial owner and the Stockholder or its, his or her Controlled Affiliate, as applicable, has good and valid title to the Shares, free and
clear of all liens, charges, encumbrances, voting agreements and commitments of every kind, except as disclosed on Schedule A, and sole voting power with respect to all of the Covered Shares with no limitations, qualifications or
restrictions. 
 (b)       The Stockholder has full legal power and capacity to execute and deliver this
Agreement and to perform its, his or her obligations hereunder. This Agreement has been duly and validly executed and delivered by the Stockholder and, assuming due authorization, execution and delivery by the Company, constitutes a legal, valid and
binding obligation of the Stockholder, enforceable against the Stockholder in accordance with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’
rights generally and by general principles of equity (regardless of whether considered in a proceeding in equity or at law). 

  
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 (c)       The Stockholder understands and acknowledges that the
Company and the Contributors are entering into the Acquisition Agreement in reliance upon the Stockholder’s execution and delivery of this Agreement and the representations, warranties and covenants of the Stockholder contained herein. 

 

	6.	Non-Survival of Representations and Warranties. The representations and warranties of the Stockholder contained herein shall not survive the Termination Date. 

 

	7.	Capacity as Stockholder. This Agreement is entered into by the Stockholder in its, his or her capacity as owner of the Shares. Notwithstanding any provision of this Agreement to the contrary, nothing in this
Agreement shall limit or restrict the Stockholder, or any of its Controlled Affiliates, Representatives or designees, who serves as a director or officer of Parent in acting in his or her capacity as director or officer of Parent and exercising his
or her fiduciary duties and other legal obligations and responsibilities as a director or officer of Parent. For the avoidance of doubt, the undersigned acknowledges and agrees that nothing in this Section 7 shall permit the Stockholder to take
any action in its, his or her capacity as owner of Shares that is otherwise prohibited by the express terms of this Agreement. 

  

	8.	Amendment. Subject to Applicable Law, the Parties may amend this Agreement by authorized action at any time pursuant to an instrument in writing signed by each of the Stockholder and the Company.

  

	9.	Extension; Waiver. At any time at or prior to the Closing, any Party may, to the extent legally allowed, (a) extend the time for the performance of any of the obligations or other acts of the other Parties
owed to such Party, (b) waive any inaccuracies in the representations and warranties made to such Party contained herein or in any document delivered pursuant hereto or (c) waive any breaches of any of the covenants, agreements,
obligations or conditions for the benefit of such Party contained herein. Without limiting the generality or effect of the preceding sentence, no failure to exercise or delay in exercising any right under this Agreement shall constitute a waiver of
such right, and no waiver of any breach or default shall be deemed a waiver of any other breach or default of the same or any other provision herein. 

  

	10.	Entire Agreement; Parties in Interest. This Agreement and the documents and instruments and other agreements specifically referred to herein or delivered pursuant hereto, including all schedules,
(a) constitute the entire agreement among the Parties with respect to the subject matter hereof and supersede all prior agreements and understandings, both written and oral, among the Parties with respect to the subject matter hereof and
(b) are not intended to confer, and shall not be construed as conferring, upon any Person other than the Parties any rights or remedies hereunder. 

  

	11.	Notices. Any notice or other communication required or permitted to be delivered to any Party under this Agreement shall be in writing and shall be deemed properly delivered, given and received when delivered by
hand, by courier or express delivery service (with tracking capability) or by facsimile to the address or facsimile telephone number set forth beneath the name of such Party below (or to such other address or facsimile telephone number as such Party
shall have specified in a written notice given to the other Parties): 

  
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	 	(i)	If to the Stockholder, to: 

 [STOCKHOLDER] 

[ADDRESS] 
 [TELEPHONE] 

[FACSIMILE] 
 with a copy
(which shall not constitute notice) to: 

[                       
          ] 
  

	 	(ii)	If to the Company, to: 

 Annapurna Therapeutics SAS 

3711 Market Street, Suite 800 

Philadelphia, Pennsylvania 19104 

Attention: President 

Telephone: (610) 659-1098 

with a copy (which shall not constitute notice) to: 

Skadden, Arps, Slate Meagher & Flom LLP 

500 Boylston Street, 23rd Floor 

Boston, MA 02116 
 Attention:
Graham Robinson 
 Facsimile: (617)-573-4822 
  

	12.	Disclosure; Cooperation. The Stockholder hereby authorizes the Company and the Parent to publish and disclose in any announcement or disclosure required by the SEC and in the Proxy Statement the
Stockholder’s identity and ownership of the Covered Shares and the nature of the Stockholder’s obligations under this Agreement. Each Party further agrees to cooperate fully with the other Party and to execute and deliver such further
documents, certificates, agreements and instruments and to take such other actions as may be reasonably requested by the other Party to evidence or reflect the Transactions and to carry out the intent and purposes of this Agreement.

  

	13.	 Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect
the validity or enforceability of the remaining terms and provisions of this Agreement or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction. If a final judgment of a court of
competent jurisdiction declares that any term or provision of this Agreement is invalid or unenforceable, the Parties hereto agree that the court making such determination shall have the power to limit such term or provision, to delete specific
words or phrases or to replace such term or provision with a term or provision that is 

  
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valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be valid and enforceable as so modified. In
the event such court does not exercise the power granted to it in the prior sentence, the Parties hereto agree to replace such invalid or unenforceable term or provision with a valid and enforceable term or provision that will achieve, to the extent
possible, the economic, business and other purposes of such invalid or unenforceable term or provision. 

  

	14.	Specific Performance. Except as otherwise provided herein, any and all remedies herein expressly conferred upon a Party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by
law or equity upon such Party, and the exercise by a Party of any one remedy will not preclude the exercise of any other remedy. The Parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the Parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the
terms and provisions hereof in any court of the United States or any state having jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity, and each of the Parties hereto waives any bond, surety or
other security that might be required of any other Party with respect thereto. 

  

	15.	Governing Law. This Agreement, all acts and transactions pursuant hereto and all obligations of the Parties shall be governed by and construed in accordance with the laws of the state of Delaware (except where
mandatory provisions of law, such as “dispositions d’ordre public” under French law, or any equivalent notion under other Applicable Law, would require the application of a different Applicable Law in order to adjudicate a
particular dispute) without reference to such state’s principles of conflicts of law that would refer a matter to a different jurisdiction.  

  

	16.	Arbitration. ANY DISPUTE (INCLUDING A DISPUTE RELATING TO ANY NON-CONTRACTUAL OBLIGATION) ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT (INCLUDING A DISPUTE RELATING TO ITS EXISTENCE, VALIDITY OR
TERMINATION OR THE CONSEQUENCES OF ITS NULLITY) (A “DISPUTE”) SHALL BE EXCLUSIVELY AND DEFINITIVELY SETTLED BY ARBITRATION PURSUANT TO THE RULES OF ARBITRATION OF THE INTERNATIONAL CHAMBER OF COMMERCE (ICC) (THE
“RULES”), WHICH RULES ARE INCORPORATED BY REFERENCE INTO THIS SECTION 16. THE ARBITRAL TRIBUNAL SHALL CONSIST OF THREE ARBITRATORS, ALL OF WHOM ARE ALSO FLUENT IN FRENCH, APPOINTED ACCORDING TO THESE RULES. THE ARBITRATORS
SHALL DECIDE ACCORDING TO THE GOVERNING LAW SPECIFIED IN SECTION 15 ABOVE. THE LANGUAGE OF THE ARBITRATION SHALL BE ENGLISH. THE PLACE OF ARBITRATION SHALL BE PARIS, FRANCE. 

 

	17.	Attorneys’ Fees. Except as provided herein, if any Legal Proceeding relating to this Agreement or the enforcement of any provision of this Agreement is brought against any Party, the prevailing Party shall
be entitled to recover reasonable attorneys’ fees, costs and disbursements (in addition to any other relief to which the prevailing Party may be entitled). 

  
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	18.	Headings. Headings of the sections of this Agreement and the schedules are for convenience of the Parties only and shall be given no substantive or interpretative effect whatsoever. 

 

	19.	Assignment; Successors. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the Parties (whether by operation of law or otherwise) without the prior
written consent of the other Parties. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the Parties and their respective permitted successors and assigns. 

 

	20.	Counterparts. This Agreement may be executed in multiple counterparts, all of which shall together be considered one and the same agreement. The exchange of a fully executed Agreement (in counterparts or
otherwise) by facsimile or by electronic delivery in .pdf format shall be sufficient to bind the Parties to the terms and conditions of this Agreement. 

  

	21.	Interpretation. The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed
as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provisions of this Agreement. 

[The remainder of this page intentionally is left blank.] 

  
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 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed as of the
date first written above. 
  

			
	ANNAPURNA THERAPEUTICS SAS
		
	By: 	 	  

		 	 Name:
 Title:

	
	  

		 	[STOCKHOLDER]

  
  

[SIGNATURE PAGE TO SUPPORT AND VOTING AGREEMENT] 

 SCHEDULE A 

 

			
	 Record Owner/Address

 
	  	
    Shares of Parent Common
Stock1    
  

	 	 
	 	  	 
	 	 
	 	  	 
	 	 
	 	  	 
	 	 
	 	  	 

  
  
  

 

	1 	Includes Restricted Stock Units and options exercisable at July 29, 2016.

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