Document:

Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS
EMPLOYMENT AGREEMENT (the “Agreement”), is entered into as of the 14th day of September, 2007, by and between TRI-S SECURITY
CORPORATION, a Georgia corporation (the “Company”), and JOHN RAYMOND OLIVER, an individual resident of the State of Georgia (“Executive”). 
 WITNESSETH: 
 WHEREAS, the Company and the Executive desire that
the Executive become employed by the Company as provided herein; 
 WHEREAS, the Company desires to provide fair and reasonable
benefits to the Executive on the terms and subject to the conditions set forth in this Agreement; 
 WHEREAS, the Company desires
reasonable protection of its confidential business and customer information which it has developed over the years at substantial expense; and 
 WHEREAS, the Company and the Executive desire to set forth in writing the terms and conditions of the Executive’s employment with the Company; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows: 
 1. Employment and Duties. 
 (a) Upon the terms and subject to the conditions set forth in this Agreement, effective as of the date hereof, the Company hereby employs the Executive as
the Chief Financial Officer of the Company, and the Executive hereby accepts such employment. During the term of this Agreement, the Executive agrees that this position will be his principal employment, that he will serve the Company faithfully and
to the best of his ability and that he will devote his full business time, attention and skills to the operation of the business of the Company, subject to reasonable absences for vacation and illness, and that he will perform such duties, functions
and responsibilities in connection with such position and consistent with the foregoing as are from time to time delegated to the Executive by the Chief Executive Officer of the Company; provided, however, that the foregoing shall not be deemed to
restrict the Executive from devoting a reasonable amount of time and attention to the management of his personal affairs and investments, so long as such activities do not interfere with the responsible performance of the Executive’s duties
hereunder. The Executive shall provide the Chief Executive Officer of the Company with periodic reports on, and keep him informed on a current basis concerning, the business and affairs of the Company. 

 (b) The Company shall provide the Executive with a private office, office equipment, supplies and other
facilities and services suitable to the Executive’s position to be located at the corporate offices of the Company. 
 2.
Term. The term (“Term”) of this Agreement shall commence on the date hereof and shall continue until the earlier of the second anniversary of the date hereof or the date on which this Agreement is terminated pursuant to the
terms hereof. 
 3. Compensation and Benefits. In consideration of the services rendered by the Executive to the Company
hereunder, the Company hereby agrees to pay or otherwise provide the Executive the following compensation and benefits, it being understood that the Company shall have the right to deduct therefrom all taxes which may be required to be deducted or
withheld under any provision of applicable law (including, without limitation, Social Security payments, income tax withholding and other required deductions now in effect or which may become effective by law any time during the Term): 

(a) The Executive shall receive an annual salary of One Hundred Ninety Thousand Dollars ($190,000.00) to be paid in equal installments in accordance
with the Company’s salary payment practices in effect from time to time. On the first anniversary of this Agreement, the annual salary to be received by Executive hereunder shall be increased by five percent (5%). The Company may consider and
declare from time to time additional increases in salary it pays the Executive. As used herein, “Salary” refers to the annual Salary then being paid to the Executive pursuant to this Section 3(a). 
 (b) In addition to Salary, the Executive shall be entitled to receive an annual retention bonus of
$10,000 per year, payable on December 31st of each year during the Term. 
 (c) The Executive also shall be entitled to receive for each fiscal year of the Company (a “Fiscal Year”) during the Term a bonus (the
“Profit Bonus”) equal to two percent (2%) of the Company’s EBITDA, as adjusted (defined as earnings before income taxes, depreciation, amortization, non-cash stock-based compensation and other income/expense), for such Fiscal
Year; provided, that the Profit Bonus for any fiscal year shall not exceed sixty percent (60%) of the Salary for such Fiscal Year The Profit Bonus, if any, for any particular Fiscal Year shall be payable in cash quarterly, based upon the
Company’s unaudited quarterly financial information; provided, however, that if the Company has a net loss for any particular quarter during a Fiscal Year, then no Profit Bonus shall be paid in subsequent quarters of such Fiscal Year until the
Company has achieved net income for such Fiscal Year. The Profit Bonus, if any, for the fourth quarter of any Fiscal Year shall be paid within thirty (30) days after the Company has finalized its audited financial statements for such Fiscal
Year. Notwithstanding anything herein to the contrary, if the Executive’s employment is terminated prior to the end of any Fiscal Year during the Term, then the Executive shall be entitled to receive the Profit Bonus otherwise payable to the
Executive with respect to such Fiscal Year through the date of such termination. 
 (d) During the Term, the Executive shall be included as a
participant in all present and future employee benefit, retirement and compensation plans generally available to executives of the Company, consistent with his Salary and his position with the Company, including, without limitation, the
Company’s pension plan and hospitalization, major medical, 

  

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disability and group life insurance plans. Without limiting the generality of the foregoing, the Company shall reimburse the Executive for one hundred
percent (100%) of the costs to the Executive of the health insurance coverage purchased by the Executive for himself and his family, with such reimbursement to be made in accordance with the Company’s policies and procedures relating to
the incurrence and reimbursement of such costs as shall, from time to time, be established by the Company. 
 (e) The Executive shall be
entitled to receive reimbursement for all reasonable expenses incurred by him in connection with the fulfillment of his duties hereunder, upon receipt of appropriate vouchers therefor, provided that the Executive has complied with all reasonable
policies and procedures relating to the incurrence and reimbursement of such expenses as shall, from time to time, be established by the Company. The reimbursement to which the Executive is entitled pursuant to this Section 3(e) shall include
reimbursement to the Executive by the Company for the Executive’s monthly automobile allowance up to $500 per month. 
 (f) The
Executive shall be entitled to three (3) weeks vacation with pay during each Fiscal Year of the Company, and such vacation to be taken by the Executive at such times as shall be consistent with the business requirements of the Company. Such
vacation time allowance shall be a cumulative accrual, and any unused vacation time for each year of the Term shall not be forfeited by the Executive if not used during such year, provided that at no time shall the Executive take more than two weeks
of vacation consecutively. 
 (g) The Company shall grant to the Executive pursuant to
the Company’s 2004 Stock Incentive Plan, as amended (the “Incentive Plan”), a ten (10) year qualified stock option (the “Option”) to purchase 100,000 shares of the Company’s common stock, par value $0.001 per share
(the “Common Stock”), at an exercise price equal to the Fair Market Value (as defined in the Incentive Plan) of the Common Stock on the date of grant (the “Date of Grant”). The Option shall vest and first become exercisable with
respect to one-half ( 1/2) of the underlying shares of Common Stock on each of the first anniversary of the Date
of Grant and the second anniversary of the Date of Grant. The Date of Grant shall be the date on which the Compensation Committee of the Company’s Board of Directors approves the issuance of the Option. The Executive understands and
acknowledges that, if at the time the Executive elects to exercise the Option or any portion thereof, a Registration Statement on Form S-8 filed by the Company with the Securities and Exchange Commission is not effective or otherwise available to
cover the issuance of the underlying shares upon such exercise, then such exercise and subsequent issuance may be delayed until such issuance is registered pursuant to the Securities Act of 1933, as amended, or an exemption from registration
requirements thereof is available. 
 4. Termination. 
 (a) This Agreement and the Executive’s employment hereunder shall terminate on the earliest to occur of the following events: (i) on the mutual
agreement of the Company and the Executive; (ii) the death of the Executive; (iii) the Executive becoming unable to perform a substantial portion of his duties as described herein, even with a reasonable accommodation, due to injury,
illness or disability (mental or physical) as determined by an independent physician selected by the Company and reasonably satisfactory to the Executive for a period of six (6) consecutive months or any aggregate period of six (6) months
in any twelve (12) month period 

  

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(“Disability”); (iv) immediately upon the Company giving written notice (referred to herein as the “Notice of Termination”) to the
Executive of termination for any reason or for no reason; (v) immediately upon the Executive giving a Notice of Termination, which Notice of Termination shall specify in reasonable detail the reason (or lack thereof) for such termination
hereunder, to the Company of termination (1) due to a material breach by the Company of, or a material failure by the Company to perform, the terms and conditions of this Agreement and, after written notice from the Executive of such breach or
failure, the Company at any time thereafter again so breaches or fails to perform, or (2) for any other reason or for no reason; or (vi) immediately and at any time upon the Company giving a Notice of Termination to the Executive of a
termination for Cause (as defined herein), which Notice of Termination shall specify in reasonable detail the Cause for such termination hereunder. 
 (b) For purposes of this Agreement, “Cause” for termination hereof shall exist if: (i) the Executive is convicted of, or pleads guilty or nolo contendere to, any act of fraud, misappropriation or embezzlement, or any
felony; (ii) in the reasonable determination of the Board of Directors of the Company, the Executive has engaged in conduct or activity materially damaging to the business of the Company (it being understood, however, that unintentional
physical damage to any property of the Company by the Executive shall not be a ground for such a determination by the Board of Directors of the Company); or (iii) the Executive has failed, without reasonable cause, to devote his full business
time and best efforts to the business of the Company as provided in Section 1(a) hereof and, after written notice from the Company of such failure, the Executive at any time thereafter again so fails. 
 5. Compensation Upon Termination. In the event of the termination of the Executive’s employment with the Company pursuant to
Section 4 hereof, the Company shall continue to pay compensation and benefits to the Executive as follows: 
 (a) In the event of a
termination pursuant to Section 4(a)(v)(2) or Section 4(a)(vi) hereof, compensation provided for herein shall continue to be paid, and the Executive shall continue to participate in the employee benefit, retirement, compensation plans and
other perquisites as provided in Section 3 hereof, through and including, without limitation, the date of termination specified in the Notice of Termination (the “Date of Termination”). Any benefits payable under insurance, health,
retirement and bonus plans as a result of the Executive’s participation in such plans through the Date of Termination shall be paid when due under such plans. 
 (b) In the event of a termination pursuant to Section 4(a)(iv) or Section 4(a)(v)(1) hereof, compensation and benefits provided for herein shall continue to be paid and provided to the Executive for a period
of six (6) months after the Date of Termination, so long as the Executive is not in breach of the terms and conditions of Section 7 hereof; provided, however, that in the event of a termination pursuant to Section 4(a)(iv) at anytime
from the date hereof through January 1, 2008, compensation and benefits provided for herein shall continue to be paid and provided to the Executive for a period of only three (3) months after the Date of Termination. Notwithstanding the
first proviso in the immediately preceding sentence, any benefits payable under insurance, health, retirement and bonus plans as a result of the Executive’s participation in such plans through the Date of Termination shall be paid when due
under such plans. 
  

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 (c) In the event of a termination pursuant to Section 4(a)(ii) or Section 4(a)(iii) hereof,
compensation provided for herein shall continue to be paid, and Executive shall continue to participate in the employee benefit, retirement, and compensation plans and other perquisites as provided in Section 3 hereof (i) in the event of
the Executive’s death, through the date of death, or (ii) in the event of the Executive’s Disability, through the Date of Termination pursuant to Section 4(a)(iii) hereof. Any benefits payable under insurance, health, retirement
and bonus plans as a result of the Executive’s participation in such plans through the date of death or the Date of Termination pursuant to Section 4(a)(iii) hereof, as the case may be, shall be paid when due under those plans. 

6. Representations and Warranties. 
 (a) The Executive represents and warrants to the Company that: (i) he has the full power and authority to execute, deliver and perform this Agreement, and that he has taken all actions necessary to secure all approvals required in
connection herewith and therewith; (ii) this Agreement has been duly authorized, executed and delivered by him and constitutes his valid and binding agreement, enforceable against him in accordance with its terms; and (iii) the execution,
delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not, with the passage of time or the giving of notice or both, violate or conflict with, constitute a breach of or default under, result in
the loss of any material benefit under, or permit the acceleration of or entitle any party to accelerate any obligation under or pursuant to, any material mortgage, lien, leases, agreement, instrument, order, arbitration award, judgment or decree to
which he is a party or by which he or any of his assets are bound. 
 (b) The Company hereby represents and warrants to the Executive that:
(i) this Agreement has been duly authorized, executed and delivered by it, and constitutes the valid and binding agreement of it, enforceable against it in accordance with its terms; (ii) it has the full power authority to execute, deliver
and perform this Agreement and has taken all necessary action to secure all approvals required in connection herewith; and (iii) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated
hereby will not, with the passage of time or the giving of notice or both, violate or conflict with, constitute a breach of or default under, result in the loss of any material benefit under, or permit the acceleration of or entitle any party to
accelerate any obligation under or pursuant to, its charter or bylaws or any material mortgage, lien, lease, agreement, instrument, order, arbitration award, judgment or decree to which it is a party or by which it or any of its assets are bound.

 7. Confidentiality. 
 (a) The Executive hereby acknowledges that (i) he has intimate knowledge of the business of the Company and the Company which, if exploited by him, in contravention of this Agreement, would seriously adversely and irreparably affect
the value of the Company and its operations; (ii) the provisions of this Section 7 are reasonable and necessary to protect the legitimate interests of the Company; (iii) any violation of this Section 7 will result in irreparable
injury to the Company and that damages at law would not be reasonable or adequate compensation to the Company for a violation of this Section 7; and (iv) in the course of his employment with the Company, as contemplated by this Agreement,
and as a result of the 

  

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position of trust that he will hold under this Agreement, he will obtain private and confidential information, trade secrets and proprietary data relating to
the Company and its subsidiaries and affiliates, including, without limitation, financial information, customer information and other data that are valuable assets and property rights of the Company and its subsidiaries and affiliates (collectively
referred to as “Confidential Information”). The Executive hereby covenants and agrees with the Company that he will not, directly or indirectly, while he is in the Company’s employ and through the period ending one (1) year after
the termination of his employment for any reason whatsoever (whether voluntarily or involuntarily), disclose or use or otherwise exploit for his own benefit, or the benefit of any other person, except as may be necessary in the performance of his
duties hereunder, any Confidential Information disclosed to the Executive or of which the Executive became aware by reason of his employment with the Company. 
 (b) In addition to all other remedies provided at law or in equity, the Company may petition and obtain from a court of law or equity both temporary and permanent injunctive relief without the necessity of proving
actual damages and without posting bond or other security to prevent a breach by the Executive of any covenant contained in this Section 7, as well as to an equitable accounting of all earnings and profits and other benefits arising out of any
such violations. 
 (c) The Executive agrees that upon the termination of his employment for any reason whatsoever (whether voluntarily or
involuntarily) he will not take with him or retain without written authorization, and he will promptly deliver to the Company, originals and all copies of all papers, files or other documents containing any Confidential Information and all other
property belonging to the Company and in his possession or under his control. 
 8. Notices. Any notice or other communication
required or permitted to be given hereunder shall be in writing and deemed to have been given when delivered in person or when dispatched by telegram or electronic facsimile transfer (confirmed in writing by mail, registered or certified, return
receipt requested, postage prepaid, simultaneously dispatched) to the addresses specified below. 
  

			
	 If to the Executive:
	 	John Raymond Oliver
		 	121 Cloister Drive
		 	Peachtree City, Georgia 30269
		
	 If to the Company:
	 	Tri-S Security Corporation
		 	Royal Centre One
		 	11675 Great Oaks Way, Suite 120
		 	Alpharetta Georgia 30022
		 	Attention: Chief Executive Officer
		 	Facsimile: (678) 808-1551

 or to such other address or fax number as either party may from time to time designate in writing to the other.

 9. Compliance with Code Section 409A. The Company and the Executive acknowledge and agree that (i) it is their
mutual intent that no benefit arising under this 

  

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Agreement shall be subject to the provisions of Section 409A(a)(1)(B) of the Internal Revenue Code of 1986, as amended (the “Code”); and
(ii) notwithstanding any provision of this Agreement to the contrary, this Agreement shall be interpreted, operated and administered consistent with this intent and any inconsistent provision of this Agreement may be modified or amended by the
Company in its sole discretion and without further consent of the Executive; provided, however, that the Company shall have no liability whatsoever to the Executive or any other person in the event that any benefit hereunder is
determined to be subject to and not in compliance with Section 409A of the Code. In furtherance, and not limitation, of the foregoing, the Company and the Executive agree that in the event that it is determined by the Company that, as a result
of Section 409A of the Code (and any related regulations or other pronouncements thereunder), any of the payments that the Executive is entitled to under the terms of this Agreement may not be made at the time contemplated by the terms thereof
without causing the Executive to be subject to excise tax and interest under Section 409A(1)(B) of the Code, the Company will make such payment on the first day determined to be permissible by the Company under Section 409A of the Code
without the Executive incurring such a penalty. 
 10. Entire Agreement. This Agreement constitutes the entire agreement
between the parties hereto relating to the subject matter hereof, and supersedes all prior or contemporaneous agreements and understandings, whether oral or written, with respect to the same. Except as provided in Section 9 hereof, no
modification, alteration, amendment or rescission of or supplement to this Agreement shall be valid or effective unless the same is in writing and signed by both parties hereto. 
 11. Governing Law. This Agreement and the rights and duties of the parties hereunder shall be governed by, construed under and enforced in
accordance with the laws of the State of Georgia. 
 12. Assignment. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, personal representatives, successors and permitted assigns. The rights, duties and obligations under this Agreement are assignable by the Company to a successor of all or substantially all
of the business or assets of the Company. The rights, duties and obligations of the Executive under this Agreement shall not be assignable. 
 13. Survival. The respective obligations of the parties under Sections 5 and 7 hereof shall survive the termination of this Agreement. 
 [SIGNATURE PAGE FOLLOWS] 
  

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 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed and delivered, and the
Executive has executed and delivered this Agreement, all as of the day and year first above written. 
  

			
	TRI-S SECURITY CORPORATION
		
	By:	 	 /s/ Ronald G. Farrell

	Its:	 	RONALD G. FARRELL,
		 	CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER
		
	By:	 	 /s/ John R. Oliver

		 	JOHN R. OLIVERBinding Letter of Intent

 Exhibit 10.1 
 Binding Letter of Intent 
 July 20, 2007 
 GlaxoSmithKline Biologicals SA 
 89 rue de l’Institut 
 B-1330 Rixensart, BELGIUM 
 Attention: President and General Manager 
 Dear Sir: 
 Reference is made to that certain Manufacturing Technology Transfer and Supply Agreement by and
between Antigenics Inc., a Massachusetts corporation (“Antigenics”) and GlaxoSmithKline Biologicals SA (“GSK”) dated July 6, 2006 (the “Supply Agreement”). This binding letter of intent
(“Letter”) will confirm our prior discussions regarding amending the Supply Agreement and entering into a business arrangement to relieve the Parties of their respective purchase and supply obligations under the Supply Agreement
(the “Proposed Transaction”). This Letter supersedes any prior letters or discussions regarding the Proposed Transaction. This Letter is intended to create binding legal and contractual obligations of the Parties with respect to
matters set forth herein, and upon the breach by a Party of its obligations in any material respect, the injured Party shall have such rights and remedies with respect thereto as are available to it under applicable law. Capitalized terms not
defined herein shall have the meaning set forth in the Supply Agreement. 
 1. Definitive Agreement; Binding Effect. The Parties have engaged in
negotiations and reached agreement in principle to amend the Supply Agreement and the Quality Agreement (the “Amendment”) to reflect the Proposed Transaction. The terms and conditions attached hereto as Exhibit A sets forth the
agreement of the Parties in principal with respect to the Proposed Transaction, and will form the basis of the Amendment. The Parties acknowledge and agree that Antigenics has been negotiating in good faith with a [**] to [**] for [**] in accordance
with the provisions of the Supply Agreement. The Parties further acknowledge and agree that [**] has [**] its [**] on [**] on [**]. In order to enable Antigenics to [**] while the Parties are [**] a [**], the Parties are entering into this Letter.
The Amendment will contain mutually agreeable terms and conditions consistent with this Letter. 
 2. Negotiation of Amendment. The Parties shall use
commercially reasonable efforts to complete negotiations and execute the Amendment as quickly as reasonably possible. Until the Amendment is executed, the Parties agree that to the extent that the provisions of this Letter (including the attached
Exhibit A) conflict with any provision of the Supply Agreement and/or the Quality 
  
 [**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Commission. 

 
Agreement, the Supply Agreement and/or the Quality Agreement is/are hereby amended to render it/them consistent with this Letter (including the attached
Exhibit A). Upon execution and delivery of the Amendment, this Letter shall be superseded thereby and the rights and obligations of the Parties with respect to the Proposed Transaction shall thereafter be governed by the Amendment.

 3. Expenses. Each Party shall pay its own fees and expenses and those of its agents, advisors, attorneys and accountants with respect to the
negotiation of the Amendment. 
 4. No Other Agreements; No Third Party Beneficiary. The Parties agree that as of this date there are no oral or
written representations, agreements or understandings concerning the subject matter of this Letter or the transactions contemplated herein. No person or entity other than the Parties to this Letter shall have any rights under this Letter.

 5. Governing Law. This Letter shall be governed by and construed in accordance with the laws of The Commonwealth of Massachusetts, without regard
to any choice of law principles that would dictate the application of the laws of another jurisdiction. 
 If the foregoing accurately
reflects your understanding, please so indicate by signing a copy of this Letter in the space provided below and returning it to me. 
  

	
	Sincerely yours,
	
	 /s/  Garo Armen
 Garo
Armen

	Antigenics, Inc., a Massachusetts corporation

  

			
	Confirmed and agreed to this 6th day of July, 2007.
		
	By:	 	 /s/  Michel J. Boijot

	Title:	 	 Vice President Business Development

  
 [**] = Portions of this exhibit have
been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Commission. 

 EXHIBIT A 
 The Parties acknowledge and agree as follows: 
  

	 	1.	From the date of this Letter, GSK shall have no further obligation to purchase QS-21 from Antigenics (or its Affiliates or Third Party designee), and Antigenics (or its Affiliates
or Third Party designee) shall have no further obligation to supply GSK and its Sublicensees QS-21, subject to the remaining provisions of this Letter. 

  

	 	2.	Notwithstanding point 1 above or any other provision of this Exhibit A or the Letter, GSK shall purchase from Antigenics (or its approved Third Party manufacturer) and
Antigenics (or its approved Third Party manufacturer) shall supply to GSK, pre-commercial grade QS-21 in the following amounts and timelines: 

  

	 	•	 	 Q3 2007: [**] 

  

	 	•	 	 Q4 2007: [**] 

  

	 	•	 	 Q1 2008: [**] 

  

	 	•	 	 Q2 2008: [**] 

  

	 	•	 	 Q3 2008: [**] (but up to [**] pending [**] of a [**] with [**])* 

  

	 	•	 	 Q4 2008: [**] (but up to [**] pending [**] of a [**] with [**])* 

 GSK may request additional quantities from Antigenics QS-21 in 2009, subject to the below provisions*. 
 Antigenics will inform GSK by [**] if Antigenics [**] provide in excess of [**] of QS-21 for the periods [**] through [**], and/or any quantities of QS-21 after [**] (but in no event more than [**] per quarter unless otherwise agreed by
Antigenics). In any such event, GSK would be obligated to provide forecasts in accordance with Section 3.4 of the Supply Agreement for any additional quantities within Antigenics’ capacity. For the avoidance of doubt, the provisions of
Exhibit C shall not longer apply. 
 GSK shall pay Antigenics for such quantities in accordance with the provisions of the Supply
Agreement. Unless otherwise elected by Antigenics, any QS-21 orders [**] shall be [**]. 
  

	 	3.	GSK shall [**] the location of site for QS-21 Manufacturing for its and Antigenics (and Antigenics’ Affiliates, licensees and customers) needs, for the latter up to the
quantity specified in paragraph 5 below, either at a GSK site or another site, subject to paragraph 5 below. Quality aspects will be managed [**] in accordance with cGMP, the Quality Agreement (as 

  
 [**] = Portions of this exhibit have been omitted pursuant to a confidential treatment
request. An unredacted version of this exhibit has been filed separately with the Commission. 

	 	 
amended to be reciprocal between the Parties), and the specifications agreed to between the Parties and pursuant to guidelines and recommendations issued
from time to time by the Regulatory Authorities. 

 Antigenics will use commercially reasonable efforts to assist GSK in
[**] for the [**] of [**] from [**] or another [**] of Antigenics to GSK at [**] to those applicable to [**]. In the event that GSK [**] from another [**], upon Antigenics’ request, GSK will use commercially reasonable efforts to [**] in [**]
for [**] from such [**] at [**] to those applicable to [**]. 
 GSK shall retain the right to cross-reference Antigenics’ BMF pursuant to
the Supply Agreement. GSK shall also have the right to file its own BMF, and shall provide and hereby provides Antigenics (and its Third Party manufacturer, Affiliates, licensees and customers) with an automatic, blanket right to cross-reference
such BMF of GSK for all indications, and shall promptly cooperate with Antigenics and provide Antigenics with any necessary documentation to effectuate the foregoing. 
  

	 	4.	Antigenics reserves the right to manufacture (or have manufactured) and supply QS-21 for itself, Affiliates and/or any Third Parties. 

  

	 	5.	At and upon Antigenics’ election but not before the Capacity Date (as hereinafter defined) and in line with a rolling forecasts and ordering process reasonably similar to the
rolling forecasts and ordering process in place under the Supply Agreement, as amended by the Amendment, GSK shall supply Antigenics (and Antigenics’ Affiliates, licensees and customers) with up to [**] per [**] of commercial grade QS-21 for up
to [**] from the [**] of [**] from Antigenics to GSK. As used herein “Capacity Date” shall mean the date upon which [**] has [**], but in no event later than [**]. The transfer price for QS-21 supplied by GSK shall be in accordance with
the QS-21 supply transfer pricing mechanism based on a [**] of [**] of the Fully Burdened Costs, provided that in the event that GSK has more than one QS-21 manufacturing facility (itself or through a Third Party), then for purposes of determining
the Fully Burdened Costs of QS-21 manufacture by GSK, the Fully Burdened Cost components shall not exceed the average of such costs among the various facilities, and provided further that in no event shall the Fully Burdened Cost components
exclusive of the manufacturing direct labor and direct material costs exceed [**]. GSK shall keep Antigenics informed as to its timelines for having commercial grade QS-21 manufacturing capabilities. In addition and without limiting the foregoing,
the Parties shall meet quarterly starting [**] to discuss GSK’s progress, developments, and timelines with respect to QS-21 manufacturing to ensure that GSK will meet the Capacity Date deadline of [**]. In such meetings, GSK shall provide
Antigenics with detailed summaries and updates with respect to the foregoing. In the event that GSK determines that there is a possibility that it will not be able to supply QS-21 to Antigenics by [**], or thereafter have an inability to supply
Antigenics with quantities requested by Antigenics, GSK shall immediately notify Antigenics and cooperate with Antigenics to address such inability. 

  
 [**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has
been filed separately with the Commission. 

	 	6.	Antigenics’ right to grant sublicenses to any Manufacturing Improvements of GSK conceived and reduced to practice after the effective date of this Letter shall be limited to
[**] of [**] provided that such [**] may in no event be a party listed on Appendix A attached to this Letter. In the event that GSK identifies a party not listed on Appendix A for whom GSK does not want Antigenics to grant sublicense rights
hereunder in the future, and such third party is a GSK Direct Competitor (as hereinafter defined), such party may be added to Appendix A upon mutual agreement of the Parties. In such an event, GSK shall notify Antigenics and shall provide Antigenics
with reasonable basis for identifying such party as a GSK Direct Competitor. In the event that Antigenics disagrees with GSK’s determination, then the matter shall be resolved in accordance with Section 12.1 of the License Agreement. A
“GSK Direct Competitor” shall be defined as any company active in [**] and/or [**] of [**] and/or [**]. For the avoidance of doubt, not all parties listed in Appendix A as of the effective date of this Letter are Direct Competitors of GSK.
For further clarification, for purpose of this paragraph 6 the following entities are not to be regarded as a GSK Direct Competitor: (a) [**], or its [**], or (b) third party contract manufacturers whose primary business is contract
manufacturing, including without limitation, the parties listed on Appendix B attached to this Letter. 

  

	 	7.	The Quality Agreement shall be amended to make all rights and obligations of the Parties reciprocal thereunder effective as of the date of this Letter. 

  

	 	8.	As consideration for Antigenics entering into the Letter and agreeing to the terms hereof, GSK shall compensate Antigenics as follows: 

  

	 	(A)	[**] (U.S.) to be paid by [**], in lieu of the Supply Agreement milestone initially associated with completion of three consistency lots. 

  

	 	(B)	GSK shall pay Antigenics (non-refundable, non-creditable) lost manufacturing profits of [**] (U.S.), reflecting a substantial portion of the anticipated lost profits for Antigenics
for QS-21 sales to GSK for 2008 through 2014 (“Lost Profits Compensation”). Such Lost Profits Compensation shall be payable to Antigenics in three equal installments of [**] each, payable on [**], and [**]. 

  

	 	9.	All adjuvant isolated from Quillaja saponaria extract, or any structural equivalents thereof, manufactured by or on behalf of GSK after the date of this Letter, shall
constitute QS-21 for purposes of the Supply Agreement and the License Agreement between the Parties (collectively, the “Agreements”). 

  

	 	10.	Further for the avoidance of doubt, except as expressly provided herein, all other financial obligations of GSK under the Agreements shall remain unchanged. Without in any way
limiting the generality of the foregoing, in no event shall this Letter or the Amendment be deemed to relieve GSK of any royalty or other payment obligations under the Agreements with respect to Licensed Vaccines or QS-21 Vaccines.

  
 [**] = Portions of this exhibit have been omitted pursuant to a
confidential treatment request. An unredacted version of this exhibit has been filed separately with the Commission. 

 Appendix A 
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 [**] = Portions of this exhibit have been omitted pursuant to a confidential treatment
request. An unredacted version of this exhibit has been filed separately with the Commission. 

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 [**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the
Commission. 

 Appendix B 
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 [**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the
Commission.

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