Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 1 TO 

SECURITIES PURCHASE AGREEMENT 

AND MARCH 2010 WARRANTS 

This Amendment No. 1 to Securities Purchase Agreement and March 2010 Warrants (this “Amendment”) is made and entered
into as of January 8, 2015, and amends (i) that certain Securities Purchase Agreement, dated as of February 25, 2010, (the “Agreement”), by and among Cleveland Biolabs, Inc., a Delaware corporation (the
“Company”), and the parties (each individually a “Purchaser,” and collectively the “Purchasers”) named on the purchaser signature pages attached thereto, and (ii) those certain Common Stock
Purchase Warrants issued to the Purchasers pursuant to the Agreement. Capitalized terms not otherwise defined herein shall have the meaning given to them in the Agreement. 

WHEREAS, the Company and the undersigned Purchasers desire to amend the Agreement to remove any and all restrictions on the Company’s
ability to effect an issuance involving a Variable Rate Transaction and to amend each of the Warrants to extend the exercise period and provide anti-dilution protection for Variable Rate Transactions; 

WHEREAS, Article 5.5 of the Agreement provides that the terms and provisions of the Agreement may be amended with the written consent of the
Company and the Purchasers having original Subscription Amounts totaling at least 75% of the aggregate original Subscription Amounts at the Closing and Section 5(l) of the Warrants provides that the Warrants may be amended with the written
consent of the Company and Holder of each Warrant (collectively, the “Required Purchasers”); and 
 WHEREAS, the
undersigned are the holders (or their transferees) of the Subscription Amounts issued at the Closing under the Agreement and together the undersigned constitute the Required Purchasers. 

NOW, THEREFORE, IN CONSIDERATION of the foregoing recitals and the mutual covenants contained in this Amendment, and for other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 
 ARTICLE 1 

AMENDMENT TO AGREEMENT 

1.1 Amendment to Section 1.1 of the Agreement. The definition of Variable Rate Transaction is hereby deleted in its
entirety from Section 1.1 of the Agreement. 
 1.2 Amendment to Section 4.12(b) of the Agreement.
Section 4.12(b) of the Agreement is hereby deleted in its entirety from the Agreement. 
 1.3 Amendment to
Section 4.12(c) of the Agreement. Section 4.12(c) of the Agreement is hereby amended and restated in its entirety to read as follow: 

“(c) Notwithstanding the foregoing, this Section 4.12 shall not apply in respect of an Exempt Issuance.” 

  
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 ARTICLE 2 

AMENDMENT TO WARRANTS 

2.1 Amendment to First Paragraph of the Warrants. The “Termination Date” of each of the Warrants (as defined in
the first paragraph of the Warrants) is hereby amended to be “March 2, 2017.” 
 2.2 Amendment to Section 3(b) of
the Warrants. The following sentence is hereby inserted at the end of Section 3(b) in each of the Warrants: 

“Notwithstanding anything to the contrary, if the Company or any Subsidiary thereof, as applicable, at any time while this Warrant is
outstanding, shall issue any Common Stock or Common Stock Equivalents entitled any Person to acquire shares of Common Stock in a Variable Rate Transaction (as defined below), then for every five million shares sold in a Variable Rate Transaction
(i.e. at five million shares sold; ten million shares sold, etc.), the average share price of the last five million shares shall be calculated and that share price shall then become the Exercise Price of the Warrant if such price is lower than the
Exercise Price then in effect on the date of sale of the 5,000,000 (five millionth) share used in the calculation. A “Variable Rate Transaction” means a transaction in which the Company (i) issues or sells any debt or equity
securities that are convertible into, exchangeable or exercisable for, or include the right to receive, additional shares of Common Stock at a conversion price, exercise price or exchange rate or other price that is based upon, and/or varies with,
the trading prices of, or quotations for, the shares of Common Stock at any time after the initial issuance of such debt or equity securities or (ii) enters into any agreement, including, but not limited to, an equity line of credit, whereby
the Company may sell securities at a future determined price.” 
 ARTICLE 3 

MISCELLANEOUS 
 3.1
Severability. In the event one or more of the provisions of this Amendment should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other
provisions of this Amendment, and this Amendment shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. 

3.2 Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same Amendment. 

  
 - 2 - 

 3.3 Conflicts. In the event of any inconsistencies between this Amendment and the
Agreement or Warrants, the terms of this Amendment shall govern. Except as provided for herein, all other terms and conditions of the Agreement and Warrants shall remain unchanged and the parties hereto reaffirm the terms and conditions of such
Agreement and Warrants. This Amendment may only be amended by a document, in writing, of even or subsequent date hereof, executed by the Company and the Required Purchasers. 

3.4 Successors and Assigns. The provisions hereof shall inure to the benefit of, and be binding upon, the parties hereto and
their respective successors, assigns, heirs, executors and administrators and other legal representatives. 
 3.5 Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Amendment shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof. 
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LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth in
the first paragraph hereof. 
  

			
	 COMPANY:
  

CLEVELAND BIOLABS, INC.

		
	By:	 	/s/ Yakov Kogan
	Name:	 	Yakov Kogan
	Title:	 	Chief Executive Officer

  
 Signature Page to
First Amendment to Securities Purchase Agreement and March 2010 Warrants 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth in
the first paragraph hereof. 
  

			
	REQUIRED PURCHASERS:
	
	Individual:
	
	  

	Name:

  

					
	Entity:	 	
		
	Name:	 	MOG CAPITAL, LLC
		
	By:	 	 /s/ Jason Adler

 

	Name:	 	Jason Adler
	Title:	 	CEO

  
 Signature Page to
First Amendment to Securities Purchase Agreement and March 2010 Warrants 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth in
the first paragraph hereof. 
  

			
	REQUIRED PURCHASERS:
	
	Individual:
	
	  

	Name:

  

					
	Entity:	 	
		
	Name:	 	Hammerman Capital Partners, LP
		
	By:	 	/s/ Jason Hammerman
	Name:	 	Jason Hammerman
	Title:	 	Managing Member of GP

  
 Signature Page to
First Amendment to Securities Purchase Agreement and March 2010 Warrants 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth in
the first paragraph hereof. 
  

			
	REQUIRED PURCHASERS:
	
	Individual:
	
	  

	Name:

  

					
	Entity:	 	
		
	Name:	 	HCP Opportunity Fund, LP
		
	By:	 	/s/ Jason Hammerman
	Name:	 	Jason Hammerman
	Title:	 	Managing Member of GP

  
 Signature Page to
First Amendment to Securities Purchase Agreement and March 2010 Warrants 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth in
the first paragraph hereof. 
  

			
	REQUIRED PURCHASERS:
	
	Individual:
	
	  

	Name:

  

					
	Entity:	 	
		
	Name:	 	2035718 ONTARIO INC
		
	By:	 	/s/ Rick Kung
	Name:	 	Rick Kung
	Title:	 	President

  
 Signature Page to
First Amendment to Securities Purchase Agreement and March 2010 Warrants 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth in
the first paragraph hereof. 
  

			
	REQUIRED PURCHASERS:
	
	Individual:
	
	  

	Name:

  

			
	Entity:	 	
		
	Name:	 	STARWOOD GROUP L.P.
		
	By:	 	 /s/ Robert Green

	Name:	 	 Robert Green

	Title:	 	 General Partner

  
 Signature Page to
First Amendment to Securities Purchase Agreement and March 2010 Warrants 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth in
the first paragraph hereof. 
  

			
	REQUIRED PURCHASERS:
	
	Individual:
	
	  

	Name:

  

			
	Entity:	 	
	
	Name: Highbridge International LLC
	 By: Highbridge Capital Management, LLC, as

Trading Manager

  

			
	By:	 	 /s/ Jonathan Dorfman

	Name:	 	 Jonathan Dorfman

	Title:	 	 Managing Director

  
 Signature Page to
First Amendment to Securities Purchase Agreement and March 2010 Warrants 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth in
the first paragraph hereof. 
  

			
	REQUIRED PURCHASERS:
	
	Individual:
	
	  

	Name:

  

					
	Entity:	 	Rockmore Investment Master Fund Ltd
		
	Name:	 	/s/ Bruce Bernstein
		
	By:	 	Rockmore Investment Master Fund Ltd
	Name:	 	Bruce Bernstein
	Title:	 	President

  
 Signature Page to
First Amendment to Securities Purchase Agreement and March 2010 WarrantsARFirstSupplementalNotePurchaseAgreement10815-FINAL

        

AMENDED AND RESTATED
FIRST SUPPLEMENTAL NOTE PURCHASE AGREEMENT
AMENDED AND RESTATED FIRST SUPPLEMENTAL NOTE PURCHASE AGREEMENT, dated as of January 8, 2015 (this “Supplemental Note Purchase Agreement”), among FARMER MAC MORTGAGE SECURITIES CORPORATION (the “Purchaser”), a wholly owned subsidiary of FEDERAL AGRICULTURAL MORTGAGE CORPORATION, a federally-chartered instrumentality of the United States and an institution of the Farm Credit System (“Farmer Mac” or the “Guarantor”); NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION, a cooperative association existing under the laws of the District of Columbia (“National Rural”); and Farmer Mac, as Guarantor.
RECITALS
WHEREAS National Rural, the Purchaser and the Guarantor have heretofore executed and delivered the Amended and Restated Master Note Purchase Agreement dated as of March 24, 2011, among National Rural, the Purchaser and the Guarantor (the “Master Agreement”);
WHEREAS, pursuant to the Master Agreement, National Rural, the Purchaser and the Guarantor entered into the First Supplemental Note Purchase Agreement dated as of March 24, 2011 (the “Original Supplement”), providing for the terms of a series of Notes issued by National Rural and purchased by the Purchaser; and
WHEREAS, the parties wish to amend and restate the Original Supplement, as provided herein.
NOW, THEREFORE, in consideration of the mutual agreements herein contained, Farmer Mac, the Purchaser and National Rural agree as follows:
1.Capitalized Terms.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Master Agreement.
2.Title of Series.  The Pricing Agreement for any Notes and each such Note issued hereunder on or after the date hereof may identify the name (if any name is designated) of such series of Notes.  Failure to make a notation of the name of a series within any Pricing Agreement or on the applicable Note shall not affect the validity and effect of such Note.
3.Purchase of Notes.  The Purchaser agrees to purchase Notes, at 100% of their principal amount, from time to time during the Draw Period, as requested by National Rural by written notice or notice given by electronic mail to Farmer Mac at Robert_Owens@farmermac.com, or such other address as may be provided in writing (each, a “Notice of Borrowing”), in an aggregate principal amount, for all Notes issued prior to the date hereof or to be issued under this Supplemental Note Purchase Agreement at any 

        

one time, not in excess of $4.5 billion (the “Maximum Purchase Amount”), subject to the conditions set forth in the Master Agreement.  For purposes hereof, “Draw Period” means the period from the date hereof through January 11, 2020; provided, however, on January 11th of each year beginning January 11, 2020, the Draw Period shall be deemed automatically extended for one (1) additional year without further action, unless at least sixty (60) days prior to any such anniversary date, Farmer Mac or the Purchaser provides National Rural with written notice that the Draw Period will not be extended beyond the then-remaining term.  National Rural may borrow, repay (subject to the terms of the applicable Notes being repaid) and reborrow funds at any time or from time to time during the Draw Period.  Each borrowing under this Supplemental Note Purchase Agreement (or, in the case of Notes issued prior to the date hereof, the applicable Original Note Purchase Agreement and/or Original Supplement) shall be made in accordance with the Note applicable thereto.
Each advance under this Supplemental Note Purchase Agreement shall be disbursed in a minimum amount of $50 million and additional increments of $5 million in excess thereof or such other amounts as agreed to in the applicable Pricing Agreement.
4.Amendment and Restatement.  This Supplemental Note Purchase Agreement amends and restates in its entirety all of the terms, conditions and provisions of the Original Supplement.
5.GOVERNING LAW.  EXCEPT AS SET FORTH IN SECTION 9.01 OF THE MASTER AGREEMENT, THIS SUPPLEMENTAL NOTE PURCHASE AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, FEDERAL LAW.  TO THE EXTENT FEDERAL LAW INCORPORATES STATE LAW, THAT STATE LAW SHALL BE THE LAWS OF THE DISTRICT OF COLUMBIA APPLICABLE TO CONTRACTS MADE AND PERFORMED THEREIN.
6.Counterparts.  This Supplemental Note Purchase Agreement may be executed in two or more counterparts, each of which shall be an original, but all of which together shall constitute one and the same instrument.
7.Inconsistency.  In the event of any inconsistency between the terms of this Supplemental Note Purchase Agreement and the Master Agreement, the terms of this Supplemental Note Purchase Agreement shall apply.
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IN WITNESS WHEREOF, each party hereto has caused this Supplemental Note Purchase Agreement to be executed by an authorized officer as of the day and year first above written.
	
		
	FARMER MAC MORTGAGE SECURITIES CORPORATION

	 
	 

	By:
	/s/ R. Dale Lynch

	Name:
	R. Dale Lynch

	Title:
	Vice President and Treasurer

	 
	 

	
		
	FEDERAL AGRICULTURAL 
MORTGAGE CORPORATION

	 
	 

	By:
	/s/ R. Dale Lynch

	Name:
	R. Dale Lynch

	Title:
	Senior Vice President – Chief Financial Officer

	
		
	NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION

	 
	 

	By:
	/s/ J. Andrew Don

	Name:
	J. Andrew Don

	Title:
	Senior Vice President and
Chief Financial Officer

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