Document:

ex_202832.htm

 

Exhibit 10.1

 

Amendment No. 2

Assignment and License Agreement

 

This Amendment No. 2 (this “Amendment”) is dated September 2, 2020 (the “Amendment Effective Date”), and is between Vertex Pharmaceuticals Incorporated (“Vertex”) and ViralClear Pharmaceuticals, Inc. (successor-in-interest to Trek Therapeutics, PBC (“Trek”)) and formerly known as NeuroClear Technologies, Inc. (“ViralClear”). Vertex and ViralClear may each be referred to herein individually as a “Party” or collectively as the “Parties.”

 

Whereas, Vertex and ViralClear are parties to that certain Assignment and License Agreement dated July 12, 2016, as amended (the “Original Agreement”);

 

Whereas, on March 24, 2020 ViralClear entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Trek, pursuant to which ViralClear purchased from Trek, amongst other things, all of Trek’s rights, title and interest in the Original Agreement while concurrently assuming Trek’s liabilities under the Original Agreement; and

 

Whereas, Vertex and ViralClear desire to amend the Original Agreement as set forth herein;

 

Now, Therefore, in consideration of the mutual covenants contained in this Amendment, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1.     All references in the Original Agreement to “TREKtx” shall be amended to read “ViralClear.”

 

2.     Section 4.2 of the Original Agreement shall be amended to read in its entirety as follows:

 

4.2 Milestone Payments. In consideration of the rights granted to ViralClear in the Assigned Know-How and Licensed Know-How hereunder, ViralClear will pay VERTEX the milestone payments (each, a “Milestone Payment”) set forth in this Section 4.2 within 30 days after the occurrence of the corresponding milestone event (each, a “Milestone Event”). Each Milestone Payment is payable only once, regardless of the number of Products that achieve the relevant Milestone Event or the number of times the same Product(s) achieve such Milestone Event.

 

	
			Milestone Number

				
			Milestone Event

				
			Milestone Payment

			
	
			1

				
			First receipt of Marketing Authorization in any country for a Product in a non-HCV Indication in the Field of Use.

				
			$10,000,000

			
	
			2

				
			Second receipt of Marketing Authorization in any country for a Product in a non-HCV Indication in the Field of Use.

				
			$5,000,000

			

 

3.     Section 4.3 of the Original Agreement shall be amended to read in its entirety as follows:

 

 

 

 

4.3 Running Royalties. In consideration of the rights granted to ViralClear in the Assigned Know-How and Licensed Know-How hereunder, on a Product-by-Product and country-by-country basis, during the Royalty Term, ViralClear shall pay VERTEX royalties at a rate of 6% of the aggregate Net Sales of each Product sold by ViralClear and any other Seller in the Territory. The obligation to pay royalties will be imposed only once with respect to the same unit of a Product.

 

4.     Section 12.3 of the Original Agreement shall be amended to read in its entirety as follows:

 

12.3 Notices. All demands, notices, consents, approvals, reports, requests and other communications hereunder must be in writing and will be deemed to have been duly given only if delivered personally, by mail (first class, postage prepaid, certified), or by overnight delivery using a globally recognized carrier, to the Parties at the addresses set forth below or to such other address as the addressee shall have last furnished in writing in accord with this provision to the addressor. All notices shall be deemed effective: (a) when delivered if personally delivered on a Business Day (or if delivered or sent on a non-Business Day, then on the next Business Day); or (b) on receipt if sent by mail or overnight courier.

 

If to VERTEX:

Vertex Pharmaceuticals Incorporated     

Attn: Business Development     

50 Northern Avenue     

Boston, Massachusetts 02210

 

With a copy to:

Vertex Pharmaceuticals Incorporated

Attn: Corporate Legal50 Northern Avenue

Boston, Massachusetts 02210

 

If to ViralClear:

ViralClear Pharmaceuticals, Inc.     

Attn: Chief Operating Officer

54 Wilton Road, 2nd Floor

Westport, CT 06880

 

5.     All capitalized terms used herein but not otherwise defined will have the meaning attributed to such terms in the Original Agreement.

 

6.     Except as amended by this Amendment, the Original Agreement will remain in full force and effect in accordance with the terms thereof.

 

2

 

 

7.     The laws of The Commonwealth of Massachusetts will govern this Amendment and all proceedings arising out of this Amendment notwithstanding any conflicts of laws principles that require the application of the law of another jurisdiction.

 

8.     This Amendment may be executed in counterparts, each of which will be deemed an original, and all of which will constitute a single agreement. The Parties may execute this Amendment by electronically transmitted signature and such electronically transmitted signature will be as effective as an original executed signature page.

 

 

[Signature Page Follows]

 

 

3

 

 

In Witness Whereof, the Parties have entered into this Amendment by their duly authorized representatives as of the Effective Date.

 

 

	
			Vertex Pharmaceuticals Incorporated 

			 

			 

			By: /s/ Michael Parini

			Name: Michael Parini

			Title: Chief Administrative, Legal and BD Officer

			Date: September 3, 2020

				
			ViralClear Pharmaceuticals, Inc. 

			 

			 

			By: /s/ Steve King

			Name: Steve King

			Title: COO

			Date: September 2, 2020

			
	 	 

 

	
			 

			 

			By: /s/ Ken Londoner

			Name: Ken Londoner

			Title: CEO, BioSig Technologies, Inc.

			Date: September 2, 2020Exhibit
10.1

 

ESPORTS
ENTERTAINMENT GROUP, INC.

170
Pater House, Psaila Street

Birkirkara,
Malta, BKR 9077

 

Date:

 

To:

Isle
of Man

 

Dear

 

This
is to confirm the terms of your appointment as a Non-Executive Director of Esports Entertainment Group, Inc. (the “Company”)
and Chair of the Compensation committee.

 

Overall,
in terms of time commitment, we expect your attendance at all the Board of Directors (the “Board”) meetings,
meetings of the audit, compensation and nomination committees of the Board (as applicable) and the General Meetings (if requested).
In addition, you will be expected to devote appropriate preparation time ahead of each meeting. Board meetings may be held within
or outside Malta as the Company may decide.

 

By
accepting this appointment, you have confirmed that you are able to allocate sufficient time to meet the expectations of this
position.

 

For
and in consideration of the services to be performed by you, Company agrees to pay you as follows:

 

	1.1
    	 	Fee.
    An annual fee equal to the amount of $20,000 (Twenty Thousand U.S. Dollars), payable on a quarterly basis, subject to your
    continuous service as a member of the Board (the “Annual Fee”). 1,000 shares of restricted common stock
    per quarter, fully vested on date of grant 

 

	1.2
    	 	Stock
    Options. Subject to all approvals required by law, the Company will grant you options to purchase shares of common
    stock each year that you remain in service as a Non-Executive Director. 20,000 options per year, vesting quarterly at 110%
    of the stock price on the date of grant.

 

Certain
Representations. You represent and agree that you are accepting the shares of common stock being issued to you pursuant
to this Agreement for your own account and not with a view to or for sale of distribution thereof. You understand that the securities
are restricted securities and you understand the meaning of the term “restricted securities.” You further represent
that you were not solicited by publication of any advertisement in connection with the receipt of the shares and that you have
consulted tax counsel as needed regarding the shares.

 

    	1

    	 

    

 

	1.3
    	 	Company
    agrees to reimburse you for out-of-pocket expenses incurred by you in connection with your service (including out-of-pocket
    expenses and “Business Class” transportation expenses, provided that such expenses are against original and valid
    receipts and pre-approved by the Company in writing (the “Expenses”).

 

	1.4
    	 	Payment
    of the Expenses, as applicable, shall be made against your itemized invoice following the receipt of the relevant invoice,
    which invoice shall be submitted to the Company within seven (7) days of the end of each calendar month during the term of
    this letter of appointment.

 

	1.5
    	 	For
    the avoidance of any doubt, the Fee and the aforementioned Expenses constitute the full and final consideration for your appointment,
    and you shall not be entitled to any additional consideration, of any form, for your appointment and service.

 

	2.	The
    term of your appointment as a Non-Executive Director of the Company shall be for one year or until the next Annual Meeting
    of Stockholders.

 

	3.
    	You
    will undertake such travelling as may reasonably be necessary for the performance of your duties, including travelling overseas
    for Board meetings and site visits if required.

 

	4.
    	You
    will undertake such duties and powers relating to the Company, and any subsidiaries or associated companies of the Company
    (the “Group”) as the Board may from time to time reasonably request. Directors have the same general legal
    responsibilities to the Company as any other director. The Board as a whole is collectively responsible for promoting the
    success of the Company by directing and supervising the Company’s affairs, inter alia, as follows:

 

	●	 	Providing
    entrepreneurial leadership of the Group within a framework of prudent and effective controls which enable risk to be assessed
    and managed; and
	 	 
	●	 	Setting
    the Group’s strategic aims, ensures that the necessary financial and human resources are in place for the Group to meet
    its objectives and reviews management performance; and
	 	 
	●	 	Setting
    the Group’s values and standards and ensures that its obligations to its shareholders and others are understood and
    met.

 

	5.
    	Confidential
    Information

 

You
undertake to the Company that you shall maintain in strict confidentiality all trade, business, technical or other information
regarding the Company, the Group, its affiliated entities and their business affairs including, without limitation, all marketing,
sales, technical and business know-how, intellectual property, trade secrets, identity and requirements of customers and prospective
customers, the Company’s methods of doing business and any and all other information relating to the operation of the Company
(collectively, the “Confidential Information”). You shall at no time disclose any Confidential Information
to any person, firm, or entity, for any purpose unless such disclosure is required in order to fulfil your responsibilities as
director. You further undertake that you shall not use such Confidential Information for personal gain.

 

    	2

    	 

    

 

“Confidential
Information” shall not include information that (i) is or becomes part of the public domain other than as a result of
disclosure by you, (ii) becomes available to you on a non-confidential basis from a source other than the Company, provided that
the source is not bound with respect to that information by a confidentiality agreement with the Group or is otherwise prohibited
from transmitting that information by a contractual legal or fiduciary obligation, or (iii) can be proven by you to have been
in your possession prior to disclosure of the information by the Company. In the event that you are requested or required (by
oral questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or other process)
to disclose any Confidential Information, it is agreed that you, to the extent practicable under the circumstances, will provide
the Company with prompt notice of any such request or requirement so that the Company may seek an appropriate protective order
or waive compliance with this paragraph 6. If a protective order or the receipt of a waiver hereunder has not been obtained, you
may disclose only that portion of the Confidential Information which you are legally compelled to disclose.

 

Blackout
Period. You understand that we have a policy pursuant to which no officer, director or key executive may not engage in
transactions in our stock during the period commencing two weeks prior to the end of a fiscal quarter and ending the day after
the financial information for the quarter and year have been publicly released. As a member of the audit committee, if you have
information concerning our financial results at any time, you may not engage in transactions in our securities until the information
is publicly disclosed.

 

	6.
    	Term
    and Termination

 

	6.1
    	Subject
    to paragraph 6.1 hereunder, this appointment shall terminate immediately and without claim for compensation on the occurrence
    of any of the following events:

 

	 	6.1.1	if
    you resign as a director of the Company for any reason; and/or

 

	 	6.1.2	if
    this appointment is cancelled by the holder or the holders of the shares by which you were appointed; and/or

 

	 	6.1.3	if
    you were appointed by other directors in order to temporary fill vacancy on the Board and said appointment is cancelled by
    the Board; and/or

 

	 	6.1.4	if
    you are removed or not re-appointed as a director of the Company at a General Meeting of the Company in accordance with the
    requirements of Chapter 78 of the Nevada and/or any other applicable law or regulation (the “Law”) and/or
    the Company’s Articles of Incorporation; and/or

 

    	3

    	 

    

 

	 	6.1.5	if
    you have been declared bankrupt or made an arrangement or composition with or for the benefit of your creditors; and/or

 

	 	6.1.6	if
    you have been disqualified from acting as a director (including, but not limited to, an event in which you are declared insane
    or become of unsound mind or become physically incapable of performing your functions as director for a period of at least
    60 days) ; and/or
	 	 	 
	 	6.1.7	with
    your death and if you are a corporation or either entity, with your liquidation.
	 	 	 
	 	6.1.8	if
    an order of a court having jurisdiction over the Company requires you to resign.

 

	6.2	Any
    termination of this letter of appointment shall be without payment of damages or compensation (except that you shall be entitled
    to any accrued Fees or Expenses properly incurred under the terms of this letter of appointment prior to the date of such
    termination).

 

	6.3	On
    termination of this appointment, you shall return all property belonging to a Group company, together with all documents,
    papers, disks and information, howsoever stored, relating to a Group company and used by you in connection with this position
    with the Company.

 

	7.
    	Subject
    to the proper performance of your obligations to the Company under this letter of appointment and any applicable law, the
    Company agrees that you will be free to accept other appointments and directorships provided that:

 

	7.1
    	 	They
    do not in any way conflict with the interests of the Company or any member of the Group; and

 

	7.2
    	 	They
    do not restrict you from devoting the necessary time and attention properly to services to be performed under this letter
    of appointment; and

 

	7.3
    	 	In
    the event that you become aware of any potential conflicts of interest, these must be disclosed to the Chairman and/or the
    Chief Executive Officer (the “CEO”) of the Company as soon as they become apparent.

 

	7.4
    	 	The
    Company acknowledges that you are currently on the Board of Directors of the following companies: 

 

	8.
    	 	The
    Company will put directors’ and officers’ liability insurance in place as soon as possible and will use commercial
    reasonable effort to maintain such coverage for the full term of your appointment.

 

	9.
    	 	The
    performance of individual directors and the Board and its committees is evaluated annually. If, in the interim, there are
    any matters which cause you concern about your position, you should discuss them with the Chairman and/or the CEO as soon
    as is appropriate.

 

    	4

    	 

    

 

	10.
    	 	In
    addition to any right pursuant to applicable law, occasions may arise when you consider that you need professional advice
    in the furtherance of your duties as a director. Circumstances may occur when it will be appropriate for you to seek such
    advice from independent advisors at the Company’s expense, to the extent provided under applicable law and subject to
    the prior written approval of a majority of the independent directors of the Company and the CEO, such consent shall not be
    unreasonably withheld.

 

	11.
    	 	This
    letter refers to your appointment as a director of the Company and your membership of the audit, nomination and the remuneration
    committees of the board.

 

	12.
    	 	You
    shall procure that you comply at all times with the Company’s inside trading policies as in effect from time to time.

 

	13.
    	 	You
    shall discharge your general duties as a director pursuant to the Company’s Articles of Association of the Company and
    applicable law.

 

	14.
    	 	This
    letter of appointment shall be governed by and construed in accordance with the law of the State of Nevada.

 

Please
sign the attached copy of this letter and return it to the Company to signify your acceptance of the terms set out above.

 

Sincerely
yours,

 

	 	By:	 
	 	 	Grant
    Johnson
	 	 
	 	 	Chief
    Executive Officer
	 	 
	 	 	ESPORTS
    ENTERTAINMENT GROUP, INC.

 

    	5

    	 

    

 

	 	By:	          
	 	 	Name
    of Director
	 	 
	 	 	Address:

 

    	6

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