Document:

Exhibit 10.15

 

 

 

METABOLIC DISRUPTION
EXCLUSIVE LICENSE

 

TABLE OF CONTENTS

 

General Terms and Conditions

 

Section 1 Novation

 

Section 2 - Definitions

 

Section 3 - Grant of
Rights and Improvements

 

Section 4 - Financial Consideration

 

Section 5 -
Sublicensing

 

 

Section 6 - U.S.
Government Rights and Requirements

 

Section
7 - Reports, Records, and Audits

 

Section
8 - Proprietary Information and Materials

 

Section 9 - Export

 

Section 10 - Sponsored
Research

 

Section 11 - Due Diligence

 

Section 12 - Patent Prosecution

 

Section 13 - Patent Enforcement

 

Section 14 -
Warranties, Indemnifications, and Insurance

 

Section 15 -
Duration, Termination, and Conversion

 

Section 16 -
General

 

____

 

Appendix
A - Patent Rights

Appendix B - Royalties

Appendix C - Due Diligence

Appendix D -
Diligence Reports

Appendix E - Form of
Royalty Report

Appendix F - Material
Transfer Agreement Template

 

 

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This
Exclusive License Agreement (the "Agreement") between
the Regents of the University of Colorado, a body corporate, having its principal office at 1800 Grant Street, 8th Floor,
Denver, CO 80203 (hereinafter "University") and Viral Genetics, Inc., a Delaware corporation having its principal office
at 2290 Huntington Drive, Suite 100, San Marino, California 91108 (hereinafter "Licensee") is effective on the 22nd
day of November, 2009, (the "Effective Date").

 

WHEREAS
University is either the sole owner or co-owner with the University of Vermont of the Licensed Patents, as defined
hereinafter, and is party to an Institutional Agreement between University and the University of Vermont ("Vermont")
with respect to the co-owned Licensed Patents whereby it is authorized to provide an exclusive license under the Licensed Patents;
and

 

WHEREAS,
University and Licensee have previously entered into an Exclusive Option Agreement dated July 7, 2008 for all fields
relating to, but not exclusive of methods of treating disease through inhibition of cancer cell metabolism, wound healing, and
neuronal cell manipulation (the "Prior Agreement"); and

 

WHEREAS,
University and Licensee now wish to substitute this Agreement for the Prior Agreement; and

 

NOW,
THEREFORE, in consideration of the promises and the mutual covenants contained herein, the parties hereto agree as
follows:

 

GENERAL TERMS AND
CONDITIONS

 

		1.	NOVATION

 

This Agreement is a
novation of, and entirely replaces, the Prior Agreement.

 

		2.	DEFINITIONS

 

For the purposes of
this Agreement, the following words and phrases shall have the following meanings:

 

2.1    "Active Program" shall mean a developmental program advancing a distinct diagnostic or therapeutic application covered
in the Licensed Patents (a) which is the subject of a sublicense or (b) on which Licensee itself is actively pursuing development
or on which an IND Phase I, II or Ill has been issued.

 

2.2    "Affiliate(s)" means any business entity that controls, is controlled by, or is under common control with Licensee.
Control means the direct or indirect ownership of at least fifty percent (50%).

 

2.3
    "Field of Use" means any use of the Metabolic Disruption Technologies.

 

2.4
    "Inventor'' means Dr. Karen Newell.

 

2.5    "Know-How" shall mean, and is limited to: (a) University's proprietary information that has been created,
developed, and fixed in any tangible medium of expression by Inventor prior to or as of the Effective Date and which is
directly related to the use of, or desirable for the practice of, the licensed Patent Rights; and (b) University's
proprietary information that is necessary for the use of, or desirable for the practice of, the licensed Patent Rights
developed by Inventor after the Effective Date while Inventor remains
an employee of University and voluntarily involved as an employee, board member or consultant of Licensee.

 

 

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2.6    "Licensed
Patents means the United States patents and patent applications and invention disclosures listed in Appendix
A together with any and all foreign patent applications and patents based thereon, divisionals, continuations of those
applications and the patents issued therefrom, including any reissues or reexaminations or extensions of such patents, and claims
of any continuations-in-part applications and resulting patents that are directed to subject matter specifically described in
the patents and patent applications listed in Appendix A, and any invention made during
the term of this Agreement by Dr. Karen Newell, or by anybody working in a laboratory under the supervision or direction of Dr.
Newell, that is in the Field of Use.

 

2.7    "Licensed
Process(es)" means any method, procedure, service, or process, the practice of which, in the absence of a license, would
infringe, or contribute to infringement of, a Valid Claim of a Licensed Patent.

 

2.8    "Licensed
Product(s)" means any and all products the making, using, importing, exporting or selling of which, in the absence of a license,
would infringe, or contribute to infringement of, a Valid Claim of a Licensed Patent.

 

2.9    "Metabolic
Disruption Technologies" means the technologies described in the Licensed Patents as defined below.

 

2.10    "Net
Sales" means the amount of gross receipts on sales of any Licensed Products or practice of any Licensed Processes by Licensee,
Affiliates, or Sublicensees. Net Sales excludes the following items, but only to the extent they pertain to the sale of Licensed
Products or the practice of Licensed Processes, are included in gross revenue, and are separately stated on purchase orders, invoices,
or other documents of sale: (a) customary trade, quantity, or cash discounts and non-affiliated brokers' or agents' commissions
actually allowed and taken; (b) amounts repaid or credited by reason of rejection or return; and (c) taxes levied on and other
governmental charges made as to production, sale transportation, delivery or use and paid by or on behalf of Licensee.

 

2.11    "Sublicensee(s)"
means any third party sublicensed by Licensee to make, have made, use, have used, sell, have sold, import, have imported, exported,
or have exported Licensed Product or to practice or have practiced any Licensed Process.

 

2.12    "Sublicense
Income" shall mean any and all consideration received by Licensee or an Affiliate from a third party as consideration for
the grant of a sublicense, or an option for a sublicense, to the Licensed Patents. Such consideration shall include without limitation
any upfront, license or option initiation or signing fees, license maintenance fees, milestone payments, equity, and research
and development funding received by Licensee or Affiliate in excess of the actual costs of performing such research and development.
Sublicense Income shall also include the fair market value of any non cash consideration paid to Licensee for sublicense rights.
Sublicense Income shall not include sums received as royalties on Net Sales by Sublicensees, such Net Sales being subject to the
royalty on Net Sales as set forth in Appendix B, Section 3.

 

2.13    "Territory"
is worldwide

 

 

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2.14    "Valid Claim" means a pending or issued and
unexpired claim of a patent under the Intellectual Property so long as such claim has not been irrevocably abandoned or declared
to be invalid in an unappealable decision of a court or other government agency of competent jurisdiction through no fault of
Licensee.

 

3. GRANT OF RIGHTS AND IMPROVEMENTS

 

3.1    License.
Subject to the terms and conditions of this Agreement, University grants to Licensee and its Affiliates under the Licensed Patents
an exclusive license to the Licensed Patents, and an exclusive license to the Know How, to make, have made, use, import, offer
to sell and sell Licensed Products and to practice the Licensed Process(es) in the Field of Use and Territory.

 

3.2
Reservation of Rights. This license is expressly made subject to the University's reservation, on behalf of itself, the
Inventors of the Licensed Patents, future not-for-profit employers of such Inventors, and all other non-profit academic and research
institutions, of the right to make and use the Licensed Products and Licensed Processes under the Licensed Patents for educational,
research, or non-commercial purposes.

 

3.3
Limitation on Rights. This Agreement confers no license or rights by implication, estoppel, or otherwise under any patent
applications or patents of University other than the Licensed Patents, regardless of whether such patents are dominant or subordinate
to the Licensed Patents.

 

3.4
Future Improvements. Provided that Inventor is at the time obligated to assign intellectual property to University and
voluntarily involved as an employee, board member, or consultant of Licensee, and in the event that Inventor, or anybody working
in a laboratory under the supervision or direction of Inventor develops any patentable invention in the Field of Use, which is
not otherwise subject to third party obligations and the practice of which would infringe any claim of the Licensed Patents or
Licensed Processes as if the claim is in an issued patent and in the absence of a license ("Improvement"), then University
shall disclose each such Improvement to Licensee in reasonable written detail. All Improvements made in the Field of Use will
be considered part of this Agreement under the applicable Appendix(ces) at no additional cost to Licensee. For any other invention
made by Inventor that is within the Field of Use and is available for licensing, Licensee shall be granted, for a one time fee
of five thousand dollars ($5,000.00), a six (6) month option, beginning on the date of University's written disclosure of said
invention to Licensee, to negotiate on commercially reasonable terms license rights to add such invention to this Agreement.

 

3.5
Limits on University Ownership. Notwithstanding any other provision in this Agreement to the contrary, and whether or not
such work is in the Field of Use or outside of it, University shall not own or have (and nothing in this Agreement shall constitute
a grant of) any rights in, to or under any patents, inventions, technology, know how, or other intellectual property:

 

3.5.1
That may be created or developed at any time by any employee of Licensee, or by Inventor working or consulting at Licensee using
Licensee's own facilities, for Licensee's own account and benefit as demonstrated by written records kept in the normal course
of research and independent of her work performed or contemplated under funded research at the University or employment agreement
at the University; or

 

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3.5.2 That may be created or developed at any time
by Licensee, using its own facilities, or under a contract with, or under a grant from, a third party without any contribution
from Inventor while Inventoris at the time obligated to assign intellectual property to University and as demonstrated by written
records kept in the normal course of research.

 

3.6
University Right to Market. University shall have the right to promote and market the Metabolic Disruption Technology for
any use for which Licensee is not then actively negotiating a sublicense and which is not then an Active Program. Should University
successfully deliver to Licensee a prospective sublicensee, then Licensee shall use best commercial efforts to enter into a sublicense
agreement with the sublicensee. In the event Licensee does execute a sublicense agreement with a partner delivered by University,
then University's Sublicensing Income for that agreement shall be fifty percent (50%), with a ten percent (10%) discount granted
for each sublicense already in effect, to a floor of twenty-five percent (25%).

 

4.FINANCIAL CONSIDERATION

 

As
consideration for the license and option rights granted under this Agreement, Licensee agrees to pay to University the economic
consideration specified in Appendix B. In addition, University and License agree to the following:

 

4.1
No Multiple Royalties. No multiple royalties shall be payable because any Licensed Products or Licensed Processes are covered
by more than one of the Licensed Patents.

 

4.2
Reduction in Royalties. In the event that Licensee must enter into a license with a third party and agrees to pay a royalty
thereunder in order to make, use, or sell a Licensed Product or practice a Licensed Process or sublicense a Licensed Patent, then
any such royalty shall be reduced by fifty percent (50%) of the royalty paid to said third party for the same reporting period.
However, in no event shall any such royalty be less than one half the otherwise applicable royalty.

 

4.3
Sales to Related Parties. On sales of Licensed Products by Licensee to sublicensees or on sales made in other than arm's-length
transactions, the value of the Net Sales attributed under this Section 4 to such a transaction shall be that which would have
been received in an arm's-length transaction, based on a like transaction at that time.

 

4.4
Interest. Payments past due shall bear interest at the rate of one percent (1%) per
month compounded, or the maximum interest rate allowed by applicable law, whichever is less.

 

4.5
Payments After License Termination. After the license terminates, Licensee will continue to submit earned royalty payments
and reports required by Section 7 of the Agreement, until all Licensed Products made or imported under this Agreement have been
sold and/or until all sublicense payments have been received by Licensee.

 

4.6 Tax-exempt. All payments due under this Agreement
shall be made without deduction for taxes, assessments, or other charges of any kind that may be imposed on the University by
any government outside of the United States or any political subdivision of such government with respect to any amounts payable
to the University pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee.

 

 

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4.7
Payments. All payments to University shall be in United States Dollars, made payable to "The Regents of the University
of Colorado" and mailed to:

 

Office of Technology
Transfer

University of Colorado

Suite 100,4740 Walnut
Street

Campus Box 588

Boulder, CO 80309

ATTN: Accounts Receivable

 

5.SUBLICENSING

 

5.1
Required Sublicense Terms. Licensee may sublicense the rights granted in Section 3. Any sublicense granted by Licensee
shall include royalty payment terms and shall be consistent with and not conflict with this Agreement. Licensee will remain responsible
for the performance of all Sublicensees under any such sublicense as if such performance were carried out by Licensee itself,
including, without limitation, the payment of any Net Sales royalties, minimum annual royalties, milestone payments, and other
license fees or payments provided for a sublicense, regardless of whether the terms of such sublicense provide for such amounts
to be paid by the Sublicensee directly to the University. Any sublicense:

 

5.1.1
Shall be subject to the termination of this Agreement;

 

5.1.2
Will provide that any Sublicensee will not further sublicense, unless such further sublicensee agrees to all relevant terms of
this agreement mutatis mutandis;

 

5.1.3
Will expressly include the provisions of Section 4 Financial Consideration, Section 7 Reports, Records and Audits, and Section
14 Warranties, Indemnification, and Insurance for the benefit of the University and Vermont;

 

5.1.4
State that in the event this Agreement is terminated pursuant to Section 15.2, provide for assignment of the sublicense to University
so long as the Sublicensee complies with Section 5.1 and the Sublicensee is not in breach; and

 

5.1.5 Provide only for cash or marketable
securities consideration from Sublicensee(s) unless University has expressly consented in writing and in advance to other consideration

 

5.2
Sublicensee Royalties. Licensee shall pay royalties on Net Sales by its Sublicensee(s) as specified under Appendix B
Section 3 and on Sublicense Income as specified in Appendix B Section 5.

 

5.3 Copy of Sublicense and Sublicensee Reports.
Licensee will submit to University a copy of each fully executed sublicense agreement and any amendments to sublicenses granted
by Licensee under this Agreement. Sublicense agreements and amendments must be postmarked within thirty (30) days of the execution
of such sublicense. Licensee will submit to University a summary and all copies of reports provided to Licensee by Sublicensees.

 

 

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6.
U.S. GOVERNMENT RIGHTS AND REQUIREMENTS

 

Licensee understands that this Agreement is subject to all of the terms
and conditions of 35 U.S.C. §§ 200-212, ("The Bayh-Dole Act") and 37
C.F.R. § 401. Licensee agrees to take all reasonable action necessary to enable University
to satisfy its obligations thereunder. Licensee shall use commercially diligent efforts to cause any Licensed Products subject
to the Bayh-Dole Act to be manufactured substantially in the United States.

 

7. REPORTS, RECORDS, AND AUDITS

 

7.1 Reports.
Beginning the calendar quarter after the Effective Date, Licensee shall submit to University:

 

7.1.1
Quarterly and annual diligence reports describing Licensee's progress and plans for the development of Licensed Products. Quarterly
reports may be an oral or written (at Licensee's discretion) summary, and an annual report in written form shall be delivered
to the University. All written Diligence Reports, when used, shall conform to those as set forth in Appendix
D, and Licensee shall endeavor to include Inventor whenever possible in any oral diligence report made to University.
Should Licensee fall under the control of, be acquired by or merged with another company, all reports thereafter must be in written
form; and

 

7.1.2
Royalty Reports as set forth in Appendix E for each calendar quarter beginning the
first quarter in which Net Sales occurs or Sublicense Income is received and each quarter thereafter regardless of Net Sales or
Sublicense Income.

 

7.2
Records.

 

7.2.1
Licensee shall keep accurate records and shall compel its Affiliates and Sublicensees to keep accurate records in sufficient detail
to reflect its operations under this Agreement and to enable the royalties accrued and payable under this Agreement to be determined.

 

7.2.2
Such records shall be retained for at least three (3) years after the close of the period to which they pertain, or for such longer
time as may be required to finally resolve any question or discrepancy raised by University.

 

7.3
Audits.

 

7.3.1
Upon the request of University, with reasonable notice, but not more frequently than once a year, Licensee shall permit an independent
public accountant selected and paid by University to have access during regular business hours to such records as may be necessary
to verify the accuracy of royalty payments made or payable hereunder.

 

7.3.2
Said accountant shall disclose information acquired to University only to the extent that it should properly have been contained
in the royalty reports required under this Agreement.

 

7.3.3 If an inspection shows an underreporting or underpayment in excess
of five percent (5%) for any twelve (12) month period, then Licensee shall reimburse University for the cost of the inspection
and pay the amount of the underpayment including any interest as required by this Agreement.

 

 

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7.4
Prosecution Cost Reports. Should Licensee fall behind in required payments to the law firm it designates pursuant to Licensee's
responsibilities as set for in Section 12.1 of this Agreement such that said law firm informs University of deficiencies
in payment, then from that point forward on a semi-annual basis Licensee shall provide University with evidence that is maintaining
an appropriate fund of money as a pre-paid account with said law firm.

 

8.
PROPRIETARY INFORMATION AND MATERIALS

 

8.1
Responsibilities. Both University and Licensee (hereinafter, "Party" or "Parties") shall vigilantly
protect any and all confidential information related to the Licensed Patents from disclosure to third parties. No such disclosure
shall be made by a Party, unless under a non-disclosure agreement commensurate with Section 8.2 to 8.5, without the written permission
of the other Party.

 

8.2
Ownership. All written documents containing confidential information and other material in tangible form received by either
Party ("Recipient") under this Agreement shall remain the property of the disclosing Party. Upon request of the disclosing
Party, the other Party shall return such documents to the disclosing Party or provide evidence of their destruction, except that
a copy may be retained for archival purposes.

 

8.3
Future information and inventions. All invention disclosures, scientific data, and business information received by either
Party under this Agreement shall be considered confidential information.

 

8.4
Exceptions. Confidential Information shall not include:

 

8.4.1
information which at the time of disclosure had been previously published or was otherwise in the public domain through no fault
of Recipient;

 

8.4.2
information which becomes public knowledge after disclosure unless such knowledge results from a breach of this Agreement;

 

8.4.3
information which was already in Recipient's possession prior to the time of disclosure as evidenced by written records kept in
the ordinary course of business or by proof of actual use thereof;

 

8.4.4
information that is independently developed without use of the Confidential Information; and

 

8.4.5
information which is required to be disclosed by law, court order, or government regulation.

 

8.5
CORA. Licensee acknowledges that University is subject to the Colorado Open Records Act (C.R.S. §§
24-72-201, et seq.). All plans and reports marked "Confidential" shall be treated by University as confidential
to the extent permitted under §24-72-204.

 

 

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8.6
Data Rights. Licensee acknowledges the University has a primary mission to secure research grants and disseminate research
results. University shall be free to use scientific and clinical data for the purposes of grant submissions and peer reviewed
publication submissions subject to the provisions of Section 3.5. Such permitted use of data shall not be delayed more than 90
days after written disclosure to Licensee, under any circumstances.

 

8.7
Materials. University shall use a Material Transfer Agreement as attached in Appendix
F for any and all transfer of materials of any kind, including but not limited to nucleic acids, proteins, antibodies,
cells, cell culture supernatants or extracts, bodily fluids or tissues, infectious agents, or any other research reagent or compound,
from University to Licensee

 

9. EXPORT

 

Licensee
will not export or re-export Licensed Patents to any country, individual, or entity except when such export or re-export is in
full compliance with the laws and regulations of the United States of America, as applicable. Applicable laws and regulations may
include but are not limited to the Export Administration Regulations, the International Traffic in Arms Regulations, and the economic
sanctions regulations administered by the U.S. Department of the Treasury.

 

10. SPONSORED RESEARCH

 

10.1
The Sponsored Research Agreement between the parties effective May 30, 2008 shall remain in full force and effect but with respect
to the Metabolic Disruption Technologies.

 

10.2
In addition, Licensee shall, for the life of this Agreement, pay to University for sponsored research on Metabolic Disruption
Technologies, to be governed by the terms of the May 30, 2008 Sponsored Research Agreement except for Article 3 thereof, an amount
equal to the greater of (a) ten percent (10%) of all funds it receives from any source other than Net Sales, funds from or resulting
in debt obligation, and payment for shares in Licensee, or (b) starting April 1, 2012, twenty-five thousand dollars ($25,000.00)
per quarter.

 

10.3 Notwithstanding anything to the contrary in Section 10.1 or 10.2, any payment to University for sponsored research
is subject to the requirement that Dr. Newell is employed by University at the time any such payment is due.

 

11. DUE DILIGENCE

 

11.1
Licensee shall use its best efforts to bring Licensed Products and Licensed Processes to market through a thorough, vigorous and
diligent program for exploitation of the Patent Rights, to develop manufacturing capabilities, to continue active, diligent marketing
efforts, and to satisfy the needs of such market with the Licensed Products and Licensed Processes throughout the life of this
Agreement. Licensee acknowledges and agrees to the performance milestones defined in Appendix
C.

 

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12. PATENT PROSECUTION

 

12.1
Licensee's Responsibilities. Licensee shall assume primary responsibility for preparing, filing and prosecuting broad patent
claims for the Licensed and Optioned Patents (including any interference or reexamination actions) for University's benefit. Within
thirty (30) days of the Effective Date, Licensee shall provide University
written notice of the name of Licensee's patent counsel (or within thirty (30) days of any change of counsel) and a copy of the
engagement letter with patent counsel. Further, Licensee shall assume primary responsibility for all patent activities, including
all costs, associated with the perfection and maintenance of Licensed Patents and shall provide University with copies of all
official documents and correspondence relating to the inventorship, prosecution, maintenance, and validity of the Licensed Patents
prior to the filing of such documents. Licensee shall provide sufficient advance notice and describe the proposed action to University
before taking any actions in filing any nonprovisional patent application, shall keep University informed of prosecution, and
University shall have final approval on how to proceed with any such action. To aid Licensee in this process, University will
provide information, execute and deliver documents and do other acts as Licensee may occasionally reasonably request. Licensee
will reimburse University for University's reasonable costs in complying with such requests. Licensee shall not abandon prosecution
of any U.S. or foreign patent application without first notifying University of Licensee's intention and reason therefore at least
thirty (30) days prior to any bar date and providing University with reasonable opportunity to assume responsibility for prosecution,
maintenance of such patents and patent applications.

 

12.2
Foreign Patent Prosecution. If Licensee will not pursue patents in a foreign country where patent protection may be available,
Licensee shall notify the University thirty (30) days prior to any patent prosecution bar date in that country so that University
may prosecute patents in that country if University so desires. If University pursues such foreign patent protection, then from
that time forward all such patent applications and any patents arising therefrom shall not be considered Licensed Patents under
this Agreement and Licensee shall forfeit any and all rights under this Agreement to such patent applications and any patents
arising therefrom. University shall be responsible for all costs associated with those patent applications and patents it decides
to pursue and maintain.

 

12.3 University's Right to Resume Prosecution. At any time, University may provide Licensee with
thirty (30) days written notice that University wishes to resume control of the preparation, filing, prosecution, and maintenance
of any and all patent applications or patents included in the Licensed Patents. If University elects to resume such responsibilities,
Licensee agrees to cooperate fully with University, its attorneys, and agents in the preparation, filing, prosecution, and maintenance
of any and all patent applications or patents and to provide University with complete copies of any and all documents or other
materials that University deems necessary to undertake such responsibilities. Licensee shall have the right to omit any such patent
application or patent from Licensed Patents of Section 2.6. Licensee shall reimburse University within 30 days of receiving an
invoice from University for patent prosecution expenses for Licensed Patents incurred by University after the University has resumed
prosecution.

 

13. PATENT ENFORCEMENT

 

13.1
Notice of Infringement. University and Licensee agree to inform the other Party promptly in writing of any suspected infringement
of the Licensed Patents by a third party. Such notice shall include any evidence of infringement possessed by the suspecting Party.
Upon such notice and before proceeding with any action (e.g., cease and desist notice}, the parties shall consult with each other
before Licensee proceeds with any action.

 

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13.2
University Suit. University shall have the first right to institute suit, and may name Licensee for standing purposes.
If University decides to institute suit, it will provide written notice
to Licensee within 90 days of the date when a party receives notice of infringement. If within 45 days of such notice, Licensee
does not notify University in writing that it will jointly prosecute the suit, Licensee will assign and hereby does assign to
University all rights, causes of action, and damages resulting from the alleged infringement. University will bear the entire
cost of the litigation and will retain the entire amount of any recovery or settlement.

 

13.3
Joint Suit. If University and Licensee agree to institute suit jointly, the suit shall be brought in both their names,
the out-of-pocket costs thereof shall be borne equally, and any recovery or settlement shall be shared equally. University and
Licensee shall agree to the manner in which they shall exercise control over such suit. Each Party, at its option, may be represented
by separate counsel of its own selection, the fees for which shall be paid by each such party.

 

13.4
Licensee Suit. In the absence of an agreement to institute a suit jointly, and if University either notifies Licensee
that it does not intend to pursue legal action or does not notify Licensee of its intent to pursue legal action as provided in
Sections 13.2 within ninety (90) days of the notice of infringement, Licensee may institute suit. Licensee agrees to keep University
reasonably apprised of the status and progress of any litigation. Licensee shall bear the entire cost of such litigation. Any
recovery shall first be applied to the reimbursement, on a pro-rata basis according to the amounts to be reimbursed, of the royalties
withheld pursuant to Section 13.5 and Licensee's and University's reasonable attorneys fees for outside counsel and court costs
incurred in litigation related to enforcement of the Licensed Patents. Any remaining recovery shall be subject to (i) the then-applicable
sublicense royalty to the extent the damage award is based on lost sublicense income or lost profits due to the infringing sales,
and (ii) the earned royalty to the extent that the damage award is based on lost Net Sales.

 

13.5 Litigation Cost Offset.
If Licensee undertakes to defend the Patent Rights by litigation, Licensee may deduct or defer from its royalty payments to University
with respect to the Patent Rights subject to suit an amount not exceeding fifty (50%) of Licensee's expenses and costs of such
action, including reasonable attorney's fees, provided however, that such reduction shall not exceed fifty percent (50%) of the
total royalty due to University for each calendar year.

 

14. WARRANTIES, INDEMNIFICATIONS, AND INSURANCE

 

14.1
Negation of Warranties. University makes no representations, extends no warranties of any kind, either express or implied,
and assumes no responsibilities whatsoever with respect to use, sale, or other disposition by Licensee or its sublicensee(s),
Affiliates, or vendees or other transferees of Licensed Products or licensed Processes incorporating or made by use of the Licensed
Patents, know-how or optioned intellectual property rights. There are no express or implied warranties of merchantability or fitness
for a particular purpose, or that the use or sale of such products or processes will not infringe any patent, copyright, trademark,
service mark, or other rights. Nothing in this Agreement shall be construed as

(1)
A warranty or representation by University as to the validity or scope of any of the rights included in the Licensed Patents;

 

(2)
A warranty or representation that the Licensed Patents or anything made, used, sold or otherwise disposed of under the License
will or will not infringe patents, copyrights or other rights of third parties;

 

 

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(3)
An obligation to furnish any know-how or services not agreed to in this Agreement, or

 

(4)
An obligation by the University to bring or prosecute actions or suits against third parties for infringement, or to provide any
services other than those specified in this Agreement.

 

14.2
Indemnification. Licensee shall indemnify, defend, and hold University, its regents, employees, students, officers, agents,
affiliates, representatives, and inventors ("University Indemnities") harmless from and against all liability, demands,
damages, losses, and expenses (including attorney fees), for death, personal injury, illness, property damage, noncompliance with
applicable laws and any other claim, proceeding, demand, expense and liability of any kind whatsoever in connection with or arising
out of:

 

(1)
the use by or on behalf of Licensee, its sublicensees, Affiliates, directors, officers, employees, or third parties of any Licensed
Patents;

 

(2)
the design, manufacture, production, distribution, advertisement, consumption, sale, lease, sublicense or use of any Licensed Product(s),
Licensed Process(es) or materials by Licensee, or other products or processes developed in connection with or arising out of the
Licensed Patents; or

 

(3) any right or obligation
of Licensee under this Agreement.

 

14.3 Insurance.
Licensee warrants that, except for obligations relating to any human trial until a human trial is undertaken, it now
maintains and will continue to maintain Comprehensive General Liability Insurance, including Product Liability Insurance, and
any other insurance customary in the industry, and that such insurance coverage lists University and the University
Indemnities as additional insureds. Within ninety (90) days after the execution of this Agreement and thereafter on January
15 of each year, Licensee will present evidence to University that the coverage being maintained with University and the
University Indemnities listed as additional insureds. In addition, Licensee will provide University with at least thirty (30)
days prior written notice of any change in or cancellation of insurance coverage.

 

15.DURATION, TERMINATION, AND CONVERSION

 

15.1
Term. This Agreement shall become effective as of the Effective Date and shall expire on the expiration date of the last
to expire patents within the Licensed Patents or Intellectual Property Rights.

 

15.2 Termination by Licensee. Licensee may
terminate this Agreement in its entirety, if Licensee:

 

(1)
Pays all amounts due as well as all non-cancelable costs to University through the termination date;

 

(2)
Submits final payments with interest as provided in Section 4.4 and a final report of the type described in Section 7;

 

(3)
Returns any confidential materials provided to Licensee by University in connection with this Agreement;

 

(4)
Suspends its use and sales of the Licensed Product(s) and Licensed Process(es); provided however, that subject to making the payments
required by Section 4 and the reports required by Section 7, Licensee may, for a period of ninety
(90) days after the effective date of such termination, sell all Licensed Products which may be in inventory; and

 

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(5)
Provides University the right to access any regulatory information filed with any U.S. or foreign government agency with respect
to Licensed Products and Licensed Processes.

 

15.3 University may terminate the relevant portion of this Agreement if Licensee:

 

(1)
Is delinquent on any report or payment that is not in dispute; is in breach of the diligence obligations described in Appendix
B or C, including the milestone requirements and such missed milestone is not otherwise excused pursuant to
the terms of this Agreement; provides any false report, as determined by Section 16.8 Dispute Resolution of this Agreement, or
is in breach of any other material provision of this Agreement, and fails to cure any of these circumstances within 30 days of
University's written notice to Licensee;

 

(2)
Violates any laws or regulations of applicable governmental entities;

 

(3)
Becomes insolvent, defined by the voluntary filing of a Chapter 7 proceeding under the Bankruptcy Law, or if Licensee shall cease
to carry on its business or development activities pertaining to Licensed Patents; or

 

(4)
Institutes a legal action challenging the validity of any Licensed Patent.

 

15.4 Other Termination. The exclusive license
granted by this Agreement shall terminate if a non-voluntary Chapter 7 proceeding under the Bankruptcy Law is filed that is not
dismissed prior to liquidation. The exclusive license shall NOT pass to a trustee in a Chapter 7 bankruptcy or be held as an asset
of said Chapter 7 bankruptcy.

 

16. GENERAL

 

16.1Assignment.
This Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the Parties hereto.

 

16.1.1
Subject to Section 16.1.4, Licensee may assign this Agreement as part of a sale, regardless of whether such a sale occurs through
an asset sale, stock sale, merger or other combination, or any other transfer of (i) Licensee's entire business; or (ii)
that part of Licensee's business that exercises all rights granted under this Agreement.

 

16.1.2
As licensee currently is exploiting the Metabolic Disruption Technology through MetaCytoLytics Inc., a wholly owned, but separately
incorporated, corporation, Licensee may assign this Agreement to MetaCytoLytics, Inc. upon its spin-off or upon divestiture of
more than 50% interest of MetaCytoLytfcs, Inc. to one or more third parties

 

16.1.3
Any other attempt to assign this Agreement by Licensee is null and void.

 

16.1.4
Prior to any assignment, the following conditions must be met: (i) Licensee must give University ten (10) days prior written notice
of the assignment, including the new assignee's contact information; and (ii) the new assignee must agree in writing to University
to be bound by this Agreement.

 

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16.1.5 In the event of a bankruptcy, assignment is permitted only to a party that can provide adequate
assurance of future performance, including diligent development and sales, of Licensed Patents.

 

16.2Notice.

 

16.2.1 Licensee will provide written
notice to University at least ninety (90) days prior to bringing an action seeking to invalidate any Licensed Patent or a declaration
of non-infringement. Licensee will include in such written notice an identification of all prior art it believes invalidates any
claim of the patent.

 

16.2.2 Notice hereunder shall be
deemed sufficient if given by registered mail, postage prepaid, and addressed to the Party to receive such notice at the address
given below, or such other address as may hereafter be designated by notice in writing. All general notices to Licensee shall
be mailed to:

 

Haig Keledjian, President and CEO

Viral Genetics, Inc.:

2290 Huntington Drive, Suite 100

San
Marino, California 91108

 

16.2.3 All financial invoices
to Licensee (i.e., accounting contact) shall be e-mailed to Haig Keledjian at the above address.

 

16.2.4 All general notices to University
shall bee-mailed or mailed to:

 

License Administrator,
CU Case#- _

Office of Technology Transfer

University of Colorado, 588 SYS

4740 Walnut Street

Boulder, CO 80309

 

16.2.5 Either party may change
its mailing or e-mail address with written notice to the other party.

 

16.3
Use of Names and Marks. Licensee agrees not to identify University in any promotional advertising, press releases, sales
literature or other promotional materials to be disseminated to the public or any portion thereof without University's prior written
consent in each case, except that Licensee may state that it has a license for the Licensed Patents from University. University
may state that it has a license for the Licensed Patents with the Licensee. Licensee further agrees not to use the name of University
or any University faculty member, inventor, employee or student or any trademark, service mark, trade name, copyright or symbol
of University, without the prior written consent of the University, entity or person whose name is sought to be used. Notwithstanding
the foregoing, Licensee or shareholders of Licensee, including Viral Genetics, Inc., may be obligated under applicable law or
have a bonafide interest in identifying University, Licensee and this Agreement through public disclosures, filings, press releases
and other media. University acknowledges and agrees to such disclosures, provided that it has two (2) business days to review
such disclosures in advance. Any such disclosure shall be redacted to exclude information that is sensitive and may reasonably
prejudice the competitive position, future negotiations, or other competitive factors of Licensee, University,
or Viral Genetics, Inc.

 

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16.4
Marking. Licensee agrees to cause Licensed Products or the product of Licensed Processes sold under this license to be
marked with the notice of the patent numbers or patent pending, as may be appropriate.

 

16.5
University Rules and Regulations. Licensee acknowledges that University employees who are engaged by Licensee, whether
as consultants, employees, or otherwise, or who possess a material financial interest in Licensee, are subject to the University's
rule regarding outside activities and financial interests as set forth in the University's intellectual property policy and related
policies regarding conflicts of interest and outside consulting, as may be amended from time to time. Any term or condition of
an agreement between Licensee and a University employee that seeks to vary or override such employee's obligations to the University
may not be enforced against such personnel or the University without the express written consent of the Principal Technology Transfer
Officer.

 

16.6
Compliance with the Law. Licensee shall comply with all commercially material local, state, federal, and international
laws and regulations relating to its obligations under this Agreement regarding the development, manufacture, use, and sale of
Licensed Products and Licensed Processes.

 

16.7
Choice of Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado.

 

16.8
Dispute Resolution. In the event of any dispute arising out of or relating to this Agreement, the affected Party shall
promptly notify the other Party ("Notice Date"), and the Parties shall attempt in good faith to resolve the matter.

 

16.8.1
Any disputes not so resolved shall be referred to the Principal Technology Transfer Officer for the University and to Licensee's
senior executives with settlement authority ("Senior Executives"), who shall meet at a mutually acceptable time and
location within thirty (30) days of the Notice Date and shall attempt to negotiate a settlement.

 

16.8.2
If the Senior Executives fail to meet within thirty (30) days of the Notice Date, or if the matter remains unresolved for a period
of sixty (60) days after the Notice Date, the Parties hereby irrevocably submit to the jurisdiction of a court of competent jurisdiction
in the State of Colorado, and, by execution and delivery of this Agreement, each (i) accepts, generally and unconditionally, the
jurisdiction of such court and any related appellate court, and (ii) irrevocably waives any objection it may now or hereafter
have as to the venue of any such suit, action or proceeding brought in such court or that such court is an inconvenient forum.

 

16.9Modification
of Agreement. The terms and provisions contained in this Agreement constitute the entire Agreement between the Parties
and shall supersede all previous communications, representations, agreements or understandings, either oral or written, between
the Parties hereto with respect to the subject matter hereof, and no agreement or understanding varying or extending this Agreement
will be binding upon either Party hereto, unless in a written amendment to this Agreementsigned by duly authorized officers
or representatives of the respective Parties, and the provisions of this Agreement not specifically amended thereby shall remain
in full force and effect according to their terms.

 

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16.10
Severability. The provisions and clauses of this Agreement are severable, and in the event that any provision or clause
is determined to be invalid or unenforceable under any controlling body of the Jaw, such invalidity or unenforceability will not
in any way affect the validity or enforceability of the remaining provisions and clauses hereof.

 

16.11
Scope. This Agreement does not establish a joint venture, agency or partnership between the Parties, nor create an employer-
employee relationship.

 

16.12
Preservation of Immunity. The Parties agree that nothing in this Agreement is intended or shall be construed as a waiver,
either express or implied, of any of the immunities, rights, benefits, defenses or protections provided to University under governmental
or sovereign immunity Jaws from time to time applicable to University, including, without limitation, the Colorado Governmental
immunity Act (C.R.S. § 24-10-101, et seq.) and the Eleventh Amendment to the United
States Constitution.

 

16.13
Headings. Headings are included herein for convenience only and shall not be used to construe this Agreement.

 

16.14
Survival. The provisions of Sections 4 Financial Consideration; 7 Reports, Records, and Audits, 8 Proprietary Information
and Materials; 14 Warranties, Indemnifications, and Insurance; 16.3 Use of Names and Marks; 16.7 Choice of Law; 16.12 Preservation
of Immunity; and 16.14 Survival and any other provision of this Agreement that by its nature is intended to survive, shall survive
any termination or expiration of this Agreement.

 

IN
WITNESS WHEREOF the parties hereto have caused this Agreement, to be executed in duplicate by their respective duly authorized
officers.

 

	University:	 	Licensee:
	 	 	 
	By: /s/ David N. Allen	 	By: /s/ Haig Keledjian
	David N. Allen	 	Haig Keledjian
	 	 	 
	Title: Associate Vice President	 	Title: President
	Date: 30NOV09	 	Date: 1-12-2009
	 	 	 
	Office of Technology Transfer	 	____________________
	University of Colorado, 588 SYS	 	____________________
	Suite 100, 4740 Walnut Street	 	____________________
	Boulder, CO 80309	 	____________________
	 	 	 

 

 

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APPENDIX A

Patent Rights

 

Invention Disclosures

 

10031C --Methods
and Uses to Alter Neuronal Stem Cell Fate

 

10037C -- Use of soluble
Fas (CD95) in cyanoacrylate to promote wound healing and as a wound sealant (no patents filed under this number)

 

10038C -- Promotion
of diabetic wound healing by incorporation of insulin in a cyanoacrylate wound sealant (no patents filed under this number)

 

10039C -- Use of soluble
FasL in cyanoacrylate to promote wound healing and as a wound sealant (no patents filed under this number)

 

10040C --Wound healing
promotion by delivery of colloidal silver in a cyanoacrylate wound sealant

 

2002.012C --Use of
Low Frequency Microwave for Repair of Central Nervous System Injury Including Stroke, Trauma, Alzheimers, Parkinson's Disease,
Multiple Sclerosis

 

2002.013C -- Use of
Low Frequency Microwaves to Alter Plasma Membrane Potential in Cells in Diseases (no patents filed under this number)

 

2002.014C --Use of Low
Frequency/Intensity Microwaves in Combination with Metallic Particles to Enhance the Effect of Microwaves on Electron Transport
and Mitochondrial Function (no patents filed under this number)

 

2002.015C --Use of 2-deoxyglucose
to Promote the Effectiveness of Low Frequency/Intensity Microwaves to Alter Mitochondrial Function (no patents filed under this
number)

 

2002.016C --Use of Low
Frequency Microwaves to Alter Electron Transport in Mitochondria of Wounds (no patents filed under this number)

 

2002.017C -- Use of
Low Intensity Microwaves to Modulate Expression and Transport of Costimulatory Molecules (no patents filed under this number)

 

2002.018C --Use of Low
Frequency/Intensity Microwaves as a Method for the Detection of Breast Cancer Cells (no patents filed under this number)

 

2002.019C --Use of Low
Intensity Microwaves to Treat Type I and Type II Diabetic Neuropathies, Nephropathies, Pathologies of the Eye, Muscle Wasting,
and Wound Healing (no patents filed under this number)

 

2002.020C --Use of Low
Frequency Microwaves to Treat Cancers in Concert with Immunological Therapeutics (no patents filed under this number)

 

2002.021C --Use of Low
Frequency Microwaves as a Method of Augmenting Traditional Chemotherapeutic Techniques and/or Traditional Radiation Therapy (no
patents filed under this number)

 

2002.022C --Methods
and Uses of Radio Protection Using Small Acidic Spore Protein and Human and Animal Analogs of Small Acidic Spore Protein (no patents
filed under this number)

 

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2002.023C
-- Method of Promoting, Preventing, Sustaining, or Shortening Neural Synapse by Manipulation of Mitochondrial, Liposomal, or Plasma
Membrane Uncoupled (no patents filed under this number)

 

2002.030C --Methods
and Products to Lower, Increase, or Remove Cell Surface Costimulatory Molecules by Altering Levels of Intracellular Reactive Oxygen
Intermediates (no active patents)

 

2002.031C --Use of
Inhibitors or Promoters of 2, 4 dienoyi-CoA-reductase to Promote or Prevent Reactive Oxygen Production

 

2002.032C --Use of Inhibitors
or Promoters of 2,4 denoyi-CoA-isomerase to Promote or Prevent Reactive Oxygen Production (no patents filed under this number)

 

2002.033C -- Use of
Probiotic Delivery of Self Antigens for Immunological therapy in Autoimmune Diseases/Use of Various Strains of Probiotics to Determine
Cytokine Bias (no patents filed under this number)

 

2002.034C -- Use of
Oral Administration ofT Cell Receptor Peptides Expressed in Probiotic Delivery System to Induce Therapeutic Immune Responses as
Indicated (no patents filed under this number)

 

2002.035C --Use of Ligands
for B7.1, B7.2, CD28, or CTLA4 in Cyanoacrylates to Promote Wound Healing (no patents filed under this number)

 

2002.036C -- Use of
Microwaves and Cyanoacrylate to Promote Wound Healing (no patents filed under this number)

 

2002.081C --Methods
and Uses to Alter Neuronal Stem Cell Fate by Manipulation of Uncoupling Protein(s)

 

2002.119C --A Means
of Preserving Organs, Tissue, and Stem Cells for Transplant, and for Improving the Success of Transplantation (no patents filed
under this number)

 

CU1008C --Methods for
Lowering Costimulatory Molecule Expression on Embryonic Stem Cells through Modulations of Oxidant Levels in the Cell with or without
TCR Peptide or Other Peptide Vaccination (no patents filed under this number)

 

CU1014C --Method to
Determine Rates of Cellular Division, Apoptosis, Oncosis or Growth Arrest through Use of Flow Cytometry (no patents filed under
this number)

 

CU1047C --The use of
saturated and polyunsaturated fatty acids to promote the effectiveness of gamma interferon as an immunogenic agent (no patents
filed under this number)

 

CU1048C --A Diagnostic
Screen of Peripheral Blood as an Indicator of Metabolic Dysfunction and Consequent Altered Immunity Disease (no patents filed
under this number)

 

CU1049C -- Use of polyphosphorylated
nucleotides to change metabolic base states in cells (no patents filed under this number)

 

CU1050C --Methods and
uses to induce or inhibit translocation of uncoupling proteins to and from cellular sites including plasma membrane organelles
(no patents filed under this number)

 

    	18

    	 

    

 

 

CU1063C
--Use of Fas Engagement and Selective Fatty Acids to Promote or Prevent Cell Viability Through Induction of Active Uncoupling
Proteins Activity (no patents filed under this number)

 

CU1065C -- Microinjection
of Mitochondria Into Stem Cells, Growing Cells, or Dysfunctional Cells as a Therapeutic Manipulation in Diseases (no patents filed
under this number)

 

CU1081C --Biochemical
Process for the Separation of Toxic Substances, Including Heavy Metals Contained in Circuit Boards (no active patents)

 

CU1098C --A Therapeutic
Approach to Pathogenesis of Down Syndrome (no patents filed under this number)

 

CU1099C --Blood Test
for Early Detection of Down Syndrome (no patents filed under this number)

 

CU1105C -- Micro/Nano
Devices and Nanoparticles and Implants for Detecting and Altering Cellular and Tissue Metabolism (no patents filed under this
number)

 

CU1125C --Methods and
uses to protect or destroy nuclear DNA by manipulations of a newly discovered nuclear membrane uncoupling protein (UCP) or uncoupling-like
protein/molecule (no patents filed under this number)

 

CU1128C --NUCLEI: Methods
and Uses to Protect or Destroy Nuclear DNA by Manipulations of a Newly Discovered Nuclear Membrane Uncoupling Protein (UCP) or
Uncoupling-Like Protein Molecule (no patents filed under this number)

 

CU1138C -- Novel
Therapies for Tissue Repair, Remodeling, Reconstruction and Regeneration

 

CU1244C --Methods and
Uses to Kill Tumor Cells In Vivo Using a Toxin Derived from the Black Widow Spider, Latrotoxin (no patents filed under this number)

 

CU1245C --The Use of
Genistein to Supplement the Activity of Chemotherapeutic and Metabolic Modifying Agents (no patents filed under this number)

 

CU1246C --Use of Myxococcus
Xanthus to Eliminate the Environmental Toxicity of Methane Production by Methanobacteria (no patents filed under this number)

 

CU1248C --Computer Software
for Improved Flow Cytometric Data Analysis (no active patents)

 

CU1249C -- Cybenetic
Biovitiation (no patents filed under this number) CU1344C --Array for Metabolic Analysis (no active patents)

 

CU1518C -- Myxococcus
xanthus derived oncolytic agent (no patents filed under this number)

 

CU1696H --Induction
of apoptosis in tumor cells (no patents filed under this number)

 

CU1715C --Metabolic
Modifications in Plants as a Mechanism for Increasing Plant derived Ethanol or Oil for Fuel Production

 

CU1968C
--Inhibition of Fatty Acid Oxidation (FAO) to potentiate drug sensitivity in breast cancer

 

CU2407H --Systems
and Methods for Treating Human Inflammatory and Proliferative Diseases and Wounds, with a Combination of Chloroquine and a Glycolytic
Inhibitor

 

    	19

    	 

    

 

 

CU2421H
--Proteins for Use in Diagnosing and Treating Infection and Disease

 

Patents

 

 

 

    	20

    	 

    

 

 

 

    	21

    	 

    

 

 

 

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    	23

    	 

    

 

 

    	24

    	 

    

 

 

 

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    	26

    	 

    

 

APPENDIX B

 

Royalties

 

1. License Fee

 

Licensee agrees to pay, within thirty
(30) days of the Effective Date, a one time license fee of one-hundred fifty-thousand dollars ($150,000.00) which may be paid,
at Licensee's discretion, as cash or as an equity grant. If Licensee chooses to grant University's duly appointed designee, University
License Equity Holdings, Inc. (ULEHI) equity in consideration for the license fee, such equity consideration shall be paid as
follows:

 

Fifty-five percent (55%) of such equity
shall be issued to the University License Equity Holdings, Inc. (ULEHI) pursuant to a stock subscription or other agreement acceptable
to ULEHI.

 

Forty-five percent (45%) of such equity
shall be issued to the University of Vermont State and Agricultural College (Vermont) pursuant to a stock subscription or other
agreement acceptable to Vermont.

 

Any such equity grant shall be equivalent
in value to the license fee at the closing price of Viral Genetics on the date of this agreement.

 

2.  Minimum annual royalty:

 

Twenty Five Thousand Dollars ($25,000.00)
in each calendar year starting January 1, 2010 and annually thereafter until first commercial sales occur.

 

Seventy Five Thousand Dollars ($75,000.00)
in each calendar year after first commercial sales occur.

 

3. Earned royalty:

 

Three Percent (3.0%) of Net Sales from
sales in developed countries, and One Half Percent (0.5%) from sales in underdeveloped countries. Underdeveloped countries shall
mean any country which, at the time the sale occurs, meets the definition of a developing country as defined by the World Bank.
Developed countries shall mean all countries other than underdeveloped countries as defined by the World Bank.

 

4.  Benchmark royalties as follows:

 

Provided that a patent has issued on the
subject matter, the following amounts shall be paid to University within ninety (90) days of the following events, where "indication"
refers to the use of a drug for treating a particular disease:

 

		1.	Thirty Five Thousand Dollars ($35,000.00) upon acceptance
of each Investigational New Drug Application (INDA) with the Food and Drug Administration (FDA) or with the European Agency for
the Evaluation of Medicinal Products (EMEA).

 

		2.	One Hundred Thousand Dollars ($100,000.00) within ninety
(90) days of each first indication at the initiation of Phase I.

 

		3.	Two Hundred Thousand Dollars ($200,000.00) within ninety
(90) days of each first indication at the initiation of Phase II

 

		4.	Three Hundred Thousand Dollars ($300,000.00) within ninety
(90) days of each first indication at the initiation of Phase III

 

		5.	Five Hundred Thousand Dollars ($500,000.00) within ninety
(90) days of FDA approval of a first indication.

 

 

    	27

    	 

    

 

		6.	One-half of all aforementioned milestones for each second
and subsequent indications.

 

5. Payment of sublicensing royalties
as follows:

 

Sublicensing royalties payable to the
University shall be, with respect to each sublicense, in accordance with the following:

 

		1.	For sublicense agreements executed within the first twelve
(12) months, fifty percent (50%) of Sublicense Income.

 

		2.	For sublicense agreements executed in the second
and third years after the Effective Date, thirty-five percent (35%) of Sublicense Income.

 

		3.	For sublicense agreements executed after the third year
after the Effective Date, twenty percent (20%) of Sublicense Income.

 

 

 

 

 

 

 

    	28

    	 

    

 

 

APPENDIX
C

 

Due Diligence

 

Licensee shall use
commercially reasonable efforts to develop, manufacture, market and sell the Licensed Products and Licensed Processes in the Field
of Use and Territory in accordance with the below milestones.

 

a. Licensee shall
show evidence of the initiation of at least two Active Programs in (2) types of cancers (e.g., Glioblastoma multiform, melanoma,
non-small cell lung cancer, etc.) and at least one (1) plant or biofuels or non therapeutic field within three (3) years of the
Effective Date.

 

b. On or before
six months from the Effective Date of this Agreement, Licensee shall secure at least half time employment of an officer level
employee, or engage a senior outside consultant, with drug development experience to oversee clinical trials in the Field of Use.

 

c.Licensee shall
reach a pre-clinical stage by September 15, 2010.

 

d.Licensee shall file its first IND by September 15, 2011.

 

e. Licensee shall
be at Phase I by September 15, 2012.

 

f. Licensee shall be at Phase Ill by September 15, 2015,
but shall be afforded more time if such is due to the nature of the requirements met in Phase I or II.

 

 

 

    	29

    	 

    

 

 

 

APPENDIX D

 

Diligence Report

 

Licensee shall submit
the Diligence Report and mark it as confidential as provided in Section 7 of the Agreement. The Diligence Report shall include
the following:

 

		a.	Date development plan initiated and time period covered
by this report.

 

		b.	Development Report (4-8 paragraphs)

 

1. Activities completed
since last report including the object and parameters of the development, when initiated, when completed and the results.

 

2. Activities currently
under investigation, i.e., ongoing activities including object and parameters of such activities, when initiated, and projected
date of completion.

 

		c.	Future development activities (4-8 paragraphs)

 

1. Activities to be
undertaken before next report including, but not limited to, the type and object of any studies conducted and their projected
starting and completion dates.

 

2. Estimated total development
time remaining before a product will be commercialized.

 

		d.	Changes to initial development plan (2-4 paragraphs)

 

1. Reasons for change.

 

2. Variables that may
cause additional changes.

 

3. Rationale for delay
in or termination of development plans or product lines, including financial, strategic, and legal reasons.

 

4. Rationale for non-termination
of Agreement or retention of Field of Use

 

		e.	Items to be provided if applicable:

 

1. If the Licensee receives
funding from the State of Colorado,. including funds received through the University of Colorado, Licensee shall provide a summary
of capital investments and an employee growth chart (# of FTEs, etc.)

 

2. Information relating
to Product that has become publicly available, e.g., published articles, competing products, patents, etc.

 

3. Development work
being performed by third parties other than Licensee to include name of third party, reasons for use of third party, planned future
uses of third parties including reasons why and type of work.

 

4. Update of competitive
information trends in industry, government compliance (if applicable) and market plan.

 

5. Information and copies of relevant materials
evidencing the status of any patent applications or other protection relating to Licensed Products, Licensed Processes, or the
Licensed Patents.

 

 

 

    	30

    	 

    

 

APPENDIX E

 

Form of Royalty Report

 

 

 

 

 

    	31

    	 

    

 

 

 

 APPENDIX F

 

Material Transfer Agreement Template

 

THIS
MATERIAL TRANSFER AGREEMENT, together with its Attachments, (the "Agreement") is made and entered into this
22nd day of November, 2009 (the "Effective Date") by and between the Regents of the University of Colorado, a body corporate,
having its principal office at 1800 Grant Street, 8th Floor, Denver, CO 80203 (hereinafter "University") and the Institution
receiving the Material,   ___________________ the "Recipient").

 

WHEREAS,
University possesses certain materials as specified in  Exhibit A attached
hereto and more specifically defined herein;

 

WHEREAS,
Recipient is conducting the specific research activities described in the Research Plan set forth in Exhibit
A (the "Research"), at Recipient's facilities (the "Facility"); and

 

WHEREAS,
University desires to supply, and Recipient desires to obtain, samples of the Materials solely for use by the Investigator
(as defined herein) in the Research in accordance with the terms and conditions of this Agreement;

 

NOW
THEREFORE, to protect University's proprietary interests with respect to the Materials, University agrees to provide
Materials to Recipient for the purposes of conducting the Research, subject to the following terms and conditions:

 

SECTION
1. DEFINITIONS

 

		1.1	"Commercial Purposes" shall mean the sale, lease,
license, or other transfer of the Material or Modifications to a for-profit organization. Commercial Purposes shall also include
uses of the Material or Modifications by any organization, including Recipient, to perform contract research, to screen compound
libraries, to produce or manufacture products for general sale, or to conduct research activities that result in any sale, lease,
license, or transfer of the Material or Modifications to a for-profit organization. However, industrially sponsored academic research
shall not be considered a use of the Material or Modifications for Commercial Purposes per se, unless any of the above conditions
of this definition are met.

 

		1.2	"Material" or "Materials" shall mean
all material provided to Recipient, Progeny, Unmodified Derivatives, and any modification to Material, if such modified Material
is substantially based on or incorporates a substantial element of original Material), or any modification that is not new or
not obviously distinct from the original Material.

 

		1.3	"Modifications" shall mean substances created
by Recipient that do not contain/incorporate the Material.

 

		1.4	"Progeny" shall mean unmodified descendant from
the Material, such as virus from virus, cell from cell, organism from organism.

 

		1.5	"Unmodified Derivatives" shall mean substances
created by Recipient that constitute an important unmodified functional sub-unit of the Original Material.

 

 

    	32

    	 

    

 

 

Examples
of Unmodified Derivatives include, but shall not be limited to, subclones of unmodified cell lines, purified or fractionated sub-sets
of the original Material when those were known to University, proteins expressed by RNNDNA supplied by University, DNNRNA sequences
for a protein with an activity known to or suspected by University, monoclonal antibodies secreted by a hybridoma cell line, sub-sets
of the Original Material such as novel plasmids or vectors.

 

SECTION 2. OWNERSHIP, USE AND TRANSFER

 

		2.1	Ownership of Material:
Legal title to the Material shall remain with University. Nothing in this Agreement grants any rights under any patents
or in any know-how of University nor any rights in the Material or any product or process related thereto or derived therefrom
other than those rights specifically set forth herein. Except as expressly provided in this Agreement, no rights are provided
to Recipient under any patents, patent applications, copyrights, trade secrets or other proprietary rights of University. In particular,
no rights are provided to use the Material or any related patents of University for any profit-making or Commercial Purposes.

 

		2.2	Use of Material: University
will use commercially reasonable efforts to provide Recipient with the quantity of the material described in 
Exhibit A. Recipient will use the Material exclusively for the non-commercial research described
in Exhibit A and for no other purpose. The Research will be conducted solely by or
under the direction of the designated investigator at Recipient's research facilities (the "Investigator"). In addition,
Recipient shall only allow employees and agents underi ts direct control and supervision to have
access to the Material. Recipient will not use the Material for testing in or treatment
of human subjects. Recipient agrees to use the Material in compliance with all applicable laws, governmental regulations, and
guidelines. The Material will not be distributed further to third parties for any purpose without the prior written consent of
University.

 

		2.3	Transfer of Material:

 

		a.	Recipient shall have the right, without restriction, to
distribute substances created by Recipient through the use of the Material only if those substances do not include the Material
or Modifications that incorporate the Material. Recipient shall not attempt to reverse engineer, deconstruct, or in any way determine
the structure or composition of the Material.

 

		b.	Upon written permission from University, Recipient may
distribute Modifications that incorporate Material for commercial use. It is recognized by Recipient that such commercial use
may require a license from University and University has no obligation to grant such a license. Nothing in this paragraph, however,
shall prevent Recipient from granting commercial licenses under Recipient's patent rights claiming Modifications as defined herein.

 

SECTION 3. INVENTIONS

 

		3.1	Tangible Property: Ownership
of tangible property between University and Recipient, as may or may not be applicable, is defined in Exhibit
A.

 

 

    	33

    	 

    

 

		3.2	Disclosure:
Recipient will promptly and fully disclose in writing to University
any and all Inventions (as defined herein), know-how and other rights (whether or not protectable under state, federal, or foreign
intellectual property Jaws) related to the Material or its use, or developed using the Material, which are conceived and/or reduced
to practice by Recipient, alone or jointly with others, in the course of its research (the "Inventions"). Recipient
shall be free to file patent applications claiming Inventions made through the use of the Material but agrees to notify University
in advance of such filing if it files patent applications claiming Modifications that incorporate or use the Material in any way.

 

		3.3	lnventorship: lnventorship
shall be determined according to U.S. patent law.

 

		3.4	Joint Inventions: Any
patent applications necessary to protect the proprietary positions of the parties in any Inventions made jointly by University
and Recipient shall be prepared, filed and prosecuted by University, jointly in its and Recipient's names, with expenses shared
equally by the parties. If University elects not to prepare, file, prosecute or maintain an application or patent arising from
any joint Invention, University shall promptly notify Recipient, and Recipient shall have the right to prepare, file, prosecute
and maintain such applications or patents, in Recipient's and University's names, and at Recipient's expense. Subject only to
Recipient's grant of an option to University under Section 4, each of University and Recipient's
shall have the right to license, transfer, and/or sell its rights in such joint inventions without the consent of the other.

 

		3.5	Recipient's Sole Inventions:
Any patent applications necessary to protect the proprietary positions of the parties in any Inventions made solely
by Recipient shall be prepared, filed and prosecuted by Recipient, solely in Recipient's name, with the expenses paid by Recipient.
If Recipient elects not to prepare, file, prosecute, or maintain an application or patent arising from any sole Inventions, Recipient
shall promptly notify University, and University shall have the right to prepare, file, prosecute, and maintain such applications
or patents, in Recipient's name and at University's expense. In return for University's support of patent prosecution and maintenance,
the parties agree to good faith negotiation regarding University's share of any and all consideration received under any licenses
resulting from such patentable subject matter.

 

		3.6	Patent Cooperation: Each party shall provide
                                                                                                                   the other party with copies of all substantive communications from all patent offices regarding applications or patents on
                                                                                                                   any joint Inventions and Recipient's sole Inventions promptly after the receipt thereof. Each party shall provide the other
                                                                                                                   party with copies of all proposed substantive communications to such patent offices regarding applications or patents on any
                                                                                                                   such Inventions in sufficient time before the due date in order to enable the other party an opportunity to comment on the
                                                                                                                   content thereof. Each party shall make available to the other party or its authorized attorneys, agents, or
                                                                                                                   representatives, such of its employees whom the other party in its reasonable judgment deems necessary in order to assist it
                                                                                                                   in obtaining patent protection for such Inventions. Each party shall sign or use its best efforts to have signed all legal
                                                                                                                   documents necessary to file and prosecute patent applications or to obtain or maintain patents at no cost to the other
                                                                                                                   party.

 

		3.7	Reimbursement of Patent
Expenses: In the event University exercises its option and executes an exclusive license to Recipient's interest in
an Invention under Section 4 herein, University shall reimburse Recipient
for its reasonable patent expenses related to such Invention and thereafter, the prosecution and maintenance of such patent applications
and patents shall be as provided in the license agreement.

 

 

    	34

    	 

    

 

SECTION 4. COMMERCIAL USE

 

		4.1	Option for Exclusive License:·
Recipient hereby grants to University an option to obtain an exclusive, royalty-bearing license to Recipient's interests
in all Inventions. For each Invention, University's option must be exercised within ninety (90) days of the written disclosure
of that Invention to University by Recipient. The royalty rates payable for the exclusive license to such Inventions, together
with the other terms thereof, will be negotiated by the parties in good faith. If any prior agreements between Recipient and a
third party would preclude Recipient from granting an exclusive license to University, then such license shall include the broadest
possible rights licensable to University.

 

		4.2	Commercial License to
Material: If Recipient desires to use the Material for profit making or commercial purposes, Recipient agrees, in advance
of such use, to negotiate in good faith with University to establish the terms of a commercial license. It is understood by Recipient
that University shall have no obligations to grant such a license to Recipient, and may grant exclusive or non-exclusive commercial
licenses to others. In consideration of University's supporting those costs and supplying the Material, Recipient hereby grants
University a ninety (90) day period (after the filing of a US patent application claiming the Invention or Modification or after
the supply of a sample of the Modification if no patent application is to be filed) to negotiate the terms of a worldwide commercial
license. Such a license shall include a reasonable royalty based on the respective parties' contributions and relevant industry
standards and, subject to University's policies, shall include such terms as are typical in licenses of similar technology from
non profit organizations to for-profit organizations.

 

SECTION 5. NOTIFICATION OF RISKS

 

		5.1	University shall inform Recipient of any toxicity, health
risks, etc. associated with the Material that are reasonably known to University. Recipient's Investigator shall inform University
of any toxicity, health risks, etc. discovered through the use of the Material.

 

SECTION 6. WARRANTIES. INDEMNIFICATION,
INSURANCE

 

		6.1	Any Material delivered pursuant to this Agreement is understood
to be experimental in nature, and will be used with prudence and appropriate caution, since not all of its characteristics are
known.

 

		6.2	Negation of Warrantees:
UNIVERSITY MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES, EITHER EXPRESS OR IMPLIED. THE MATERIAL IS PROVIDED
WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE
OR ANY OTHER WARRANTY, EXPRESS OR IMPLIED OR THAT THE USE OF THE BIOLOGICAL MATERIALS WILL NOT INFRINGE ANY PATENT, COPYRIGHT,
TRADEMARK, OR ANY OTHER PROPRIETARY RIGHT.

 

    	35

    	 

    

 

 

		6.3	Indemnification: Recipient
agrees to indemnify University for liability, loss, or damage they may suffer as a result of claims, demands, costs or judgments
against University arising out of the activities to be carried out pursuant to this Agreement.

 

		6.4	Insurance: Recipient
shall obtain general liability insurance, including product liability insurance, on such terms and in such amounts as are reasonable
and customary within its industry.

 

SECTION 7. RECIPIENT'S ASSUMPTION
OF LIABILITY

 

		7.1	Assumption of Liability:
To the extent permitted by applicable law, Recipient assumes all liability for damages that may arise from its use,
storage, or disposal of the Material. University shall not be liable to Recipient for any loss, claim or demand made by the Recipient,
or made against the Recipient by any other party, due to or arising from the use, storage or handling of the Material by Recipient,
except to the extent caused by the gross negligence or willful misconduct of the University.

 

SECTION 8. PUBLICATION RIGHTS

 

		8.1	This Agreement shall not be interpreted to prevent or delay
publication of research resulting from the use of the Material or Modifications. Recipient shall have the right to publish and
disclose the results of the Research.

 

		8.2	In order to balance this right with the University's proprietary
interests, Recipient shall submit any proposed disclosure or publication to University for its review at least thirty (30) days
prior to the earlier of the date of submission to any journal for review or the date of publication or disclosure. University
shall complete its review within thirty (30) days of receipt of the submitted documents. University may require that Recipient
delete from its documents any reference to the University's confidential information.

 

		8.3	If, during the thirty (30) day review period, University
notifies Recipient that it desires to file a patent application on any Inventions disclosed in the documents, Recipient will defer
publication/disclosure for up to sixty (60) additional days from the date of submission of the document to permit University to
prepare and file a patent application.Recipient's Investigator agrees to provide copies of research results related to the
Material and appropriate acknowledgment of University as the source of the Material in all publications.

 

SECTION 9. TERM AND TERMINATION

 

		9.1	This Agreement shall terminate on the earliest of the following
dates:

 

		a.	when the Material becomes generally available from third
parties, for example, through reagent catalogs or from a public repository;

 

    	36

    	 

    

 

		b.	on
completion of Recipient's current research with the Material;

 

		c.	on
thirty (30) days written notice by either party to the other; or

 

		d.	one
year from the last signature date.

 

		9.2	If termination should occur as a result of 9.1(a), Recipient
shall be bound to the University by the least restrictive terms applicable to Material obtained from the then-available sources.

 

		9.3	Upon termination of this Agreement, Recipient shall discontinue
its use of the Material and shall, upon direction of University, return or destroy any remaining Material. Recipient shall also
either destroy Modifications or remain bound by the terms of this Agreement as they apply to Modifications.

 

		9.4	In the event University terminates this Agreement for its
convenience, University will defer the effective date of termination for a period of up to one (1) year, upon request from Recipient
to complete research in progress.

 

SECTION 10. REIMBURSEMENT

 

		10.1	The Material is provided for a fee,
                                                                                                                                               which is solely to reimburse University for its production and distribution costs. The amount of the fee is __________ U.S.
                                                                                                                                               dollars ($), due contemporaneously upon execution of this Agreement. At the request of
                                                                                                                                               the University, Recipient shall provide its courier name and account number to University in advance of distribution of
                                                                                                                                               Material. Courier Name: __________ Billing account number: _________________.

 

SECTION
11. CONFIDENTIALITY

 

		11.1	Recipient agrees to use reasonable efforts (which shall
be at least as great as the efforts to maintain the confidentiality of its own confidential information) to maintain the Material
and information in confidence, and to use the same only in accordance with this Agreement. Such obligation of confidentiality
shall not apply to information that Recipient can demonstrate:

 

		a.	was at the time of disclosure in the public domain;

 

		b.	has come into the public domain after disclosure through
no fault of Recipient or its employees or agents;

 

		c.	was known to Recipient or its employees prior to disclosure
thereof by University;

 

		d.	was lawfully disclosed to Recipient without prior obligation
of confidence by a third party that was not under an obligation of confidence to Recipient with respect thereto;

 

		e.	was independently developed without use of or reference
to the confidential material or

 

		f.	is required to be disclosed by law, government regulation,
or court order, and is disclosed only to the extent it satisfies that requirement.

 

 

    	37

    	 

    

 

		11.2	Recipient acknowledges that University is subject to the
Colorado Open Records Act (C.R.S. § 24-72-201, et seq.). All documents marked "Confidential" shall be treated by
University as confidential to the extent permitted under§ 24-72-204.

 

SECTION 12. GENERAL

 

		12.1	Assignment: This
Agreement is not assignable, whether by operation of law or otherwise, and sets forth the entire agreement and understanding of
the parties and cannot be changed or amended except by written agreement executed by both parties.

 

		12.2	Notice: Notice
hereunder shall be deemed sufficient if given by registered mail, postage prepaid, and addressed to the Party to receive such
notice at the address given below, or such other address as may hereafter be designated by notice in writing.

 

	 	University:	 	Recipient:
	 	 	 	 
	 	License Administrator	 	__________________
	 	Office of Technology Transfer	 	__________________
	 	University of Colorado, 588 SYS	 	__________________
	 	Suite 100, 4740 Walnut Street	 	__________________
	 	Boulder, CO 80309	 	__________________

 

		12.3	Use of Names and Marks:
Recipient agrees not to identify University in any promotional advertising, press releases, sales literature or other
promotional materials to be disseminated to the public or any portion thereof without University prior written consent in each
case, except that Recipient may state that it has an agreement with University. Recipient further agrees not to use the name of
University or any University faculty member, inventor, employee or student or any trademark, service mark, trade name, copyright
or symbol of University, without the prior written consent of the University, entity or person whose name is sought to be used.

 

		12.4	Marking: Recipient
agrees to:

 

		a.	Cause any products which may be sold as a result of this
MTA to be marked with the notice of the patent numbers or patent pending, as may be appropriate.

 

		b.	Comply with all laws and regulations of the United States
and any other country as appropriate concerning or controlling the import or export of the Licensed Products, data, software,
laboratory prototypes or other commodities. University makes no representation that a license or consent for export will not be
required by applicable governmental agencies, or if required, that it will be issued.

 

 

    	38

    	 

    

 

		c.	Comply with all applicable statutes, regulations, and guidelines,
including applicable governmental regulations, policies, and guidelines in its use of any University-supplied materials. Recipient
agrees not to use the materials for research involving human subjects
or clinical trials in the United States without complying with 21 C.F.R. Part 50 and 45 C.F.R. Part 46 (as those regulations may
be amended from time to time). Recipient agrees not to use the materials for research involving human subjects or clinical trials
outside of the United States without notifying University in writing, of such research or trials and complying with the applicable
regulations of the appropriate national control authorities. Written notification to University of research involving human subjects
or clinical trials outside of the United States shall be given no later than sixty (60) days prior to commencement of such research
or trials.

 

		12.5	Compliance with the Law:
Recipient shall comply with all commercially material local, state, federal, and international laws and regulations
relating to its obligations under this Agreement regarding the development, manufacture, use, and sale of any products incorporating
the Materials.

 

		12.6	Choice of Law: This
Agreement shall be governed by and construed in accordance with the laws of the State of Colorado.

 

		12.7	Dispute Resolution: In
the event of any dispute arising out of or relating to this Agreement, the affected Party shall promptly notify the other Party
("Notice Date"), and the Parties shall attempt in good faith to resolve the matter.

 

		a.	Any disputes not so resolved shall be referred to senior
executives, who shall meet at a mutually acceptable time and location within thirty (30) days of the Notice Date and shall attempt
to negotiate a settlement.

 

		b.	If the senior executives fail to meet within thirty (30)
days of the Notice Date, or if the matter remains unresolved for a period of sixty (60) days after the Notice Date, the Parties
hereby irrevocably submit to the jurisdiction of a court of competent jurisdiction in the State of Colorado, and, by execution
and delivery of this Agreement, each (i) accepts, generally and unconditionally, the jurisdiction
of such court and any related appellate court, and (ii) irrevocably waives any objection it may now or hereafter have as to the
venue of any such suit, action or proceeding brought in such court or that such court is an inconvenient forum.

 

		12.8	Merger and Modification
of Agreement: The terms and provisions contained in this Agreement constitute the entire Agreement between the Parties
and shall supersedeall previous communications, representations, agreements or understandings, either oral or written, between
the Parties hereto with respect to the subject matter hereof, and no agreement or understanding varying or extending this Agreement
will be binding upon either Party hereto, unless in writing which specifically refers to this Agreement, signed by duly authorized
officers or representatives of the respective Parties, and the provisions of this Agreement not specifically amended thereby shall
remain in full force and effect according to their terms.

 

		12.9	Severability: The
provisions and clauses of this Agreement are severable, and in the event that any provision or clause is determined to be invalid
or unenforceable under any controlling body of the law, such invalidity or unenforceability will not in any way affect the validity
or enforceability of the remaining provisions and clauses hereof.

 

 

    	39

    	 

    

 

		12.10	Scope:
This Agreement does not establish a joint venture, agency,
or partnership between the Parties, nor create an employer- employee relationship.

 

		12.11	Preservation of Immunity:
The Parties agree that nothing in this Agreement is intended or shall be construed as a waiver, either express or implied,
of any of the immunities, rights, benefits, defenses or protections provided to University under governmental or sovereign immunity
laws from time to time applicable to University, including, without limitation, the Colorado Governmental Immunity Act (C.R.S.
§ 24-10-101, et seq.) and the Eleventh Amendment to the United States Constitution.

 

		12.12	Headings: Headings
are included herein for convenience only and shall not be used to construe this Agreement.

 

		12.13	Survival. The
provisions of Sections 3 Inventions, 4 Commercial Use, 6 Warranties, Indemnifications and Insurance, 7 Recipient's Assumption
of Liability, 8 Publication Rights, 11 Confidentiality, 12.11 Preservation of Immunity, 12.13 Survival, , and any other provision
of this Agreement that by its nature is intended to survive, shall survive any termination or expiration of this Agreement.

 

IN
WITNESS WHEREOF the parties hereto have caused this Agreement, to be executed in duplicate by their respective duly
authorized officers.

 

	University:	 	Recipient:
	 	 	 
	By: ____________________	 	By: ____________________
	 	 	 
	Title: ____________________	 	Title: ____________________
	 	 	 
	Date: ___________________	 	Date: ___________________
	 	 	 
	Office of Technology Transfer	 	________________________
	University of Colorado, 588 SYS	 	________________________

	Suite 100, 4740 Walnut Street	 	________________________
	Boulder, CO 80309	 	________________________

 

Recipient’s Investigator:

 

___________________________________

 

 

    	40

    	 

    

 

 

EXHIBIT A

 

Materials, Contact
Information and Research Plan

 

Materials:

 

Amount of Materials
to Be Provided:

 

Facilities Address:

 

_____________________________________

_____________________________________

_____________________________________

 

 

Investigator:

 

Name: ______________________________

Title: _______________________________

 

Address: _____________________________

____________________________

 

Phone: ______________________________

Fax: ________________________________

Email: _______________________________

Account
Number of FedEx or DHL: ___________________________

 

Research Plan:

 

Title:

 

Aims:

 

Research Plan:

 

Anticipated Research
Completion Date: _______________, 2000_

 

 

    	41

    	 

    

 

 

EXHIBIT B

 

University
describes any preexisting obligations that University has to third parties (other than the federal government or non-profit
foundations) that would affect Recipient.

 

 

 

 

 

 

    	42Exhibit 10.16

 

BUSINESS SERVICES AGREEMENT

 

THIS BUSINESS SERVICES AGREEMENT (the "Agreement")
is effective this 8th day of January 2010, by and between John Michael Johnson with principal offices at 500 Koheo Road,
Kula, Hawaii 96790 (the "Advisor") and Viral Genetics, Inc., a Delaware corporation with principal offices at 1321 Mountain
View Circle, Azusa, California 91702 (the "Company").

 

NOW THEREFORE FOR GOOD AND LAWFUL CONSIDERATION
THE RECEIPT AND SUFFICIENCY OF WHICH IS HEREBY ACKNOWLWDGED THE PARTIES AGREE AS FOLLOWS:

 

1. Services Provided By Advisor. In consideration
of the Fee (as hereinafter described), Advisor shall provide the Services as follows.

 

A. INVESTOR RELATIONS

Provided that the success of Advisor's
services shall be limited to various factors outside of Advisor's control, including that the Company must generate interest and
a reason to buy its stock to keep its existing investors and to attract new investors looking for opportunities, Advisor shall
advise and assist with the Company's overall investor relations efforts including performing the following specific actions:

 

i)  
Sell-side Analysts (banking and independent)

Establish coverage by new sell-side analysts and firms

Identify key sell-side
and independent analysts covering biotech sector

 

ii)
Institutional Investment Community

Target investment in company stock by institutional
investors not holding company stock

Identify potential institutional investors

Schedule meetings with potential institutional investors

Increase holdings of company stock by current institutional
investors if applicable

 

iii)     
Retail investment community

Review website for the retail community (ease of navigation,
etc.)

Seek opportunities to leverage institutional investor
efforts for retail audiences

Leverage relationships to target "active"
brokers

Identify high net worth brokers

Conduct broker meetings - one-on-ones and/or conference
calls with management

 

iv)
Senior management interaction with investment community

Prepare materials and anticipated Q&A before meetings
and presentations

Provide feedback on meeting and presentations —
conduct follow-up calls to evaluate

impact of presentation and gain relevant feedback

Provide guidance to management on potential or actual
investor reactions

 

    	1

    	 

    

 

Provide guidance to
management on investor relations issues and trends

 

v) Third party investor relations
service providers.

Advisor shall assist the Company
in the origination and management of other investor relations service providers including reviewing and making recommendations
on candidates proposed by the Company. On a case-by-case basis, and only with the prior written consent of the Company including
review of any contracts or agreements in place between Advisor and such third parties and approval of the cost of such services,
Advisor may retain and engage third parties to perform such service providers provided that all such engagements shall be subject
to termination without advance notice by the Company. The cost of such third party service providers shall be borne by Advisor
and Company shall reimburse Advisor for same plus a fee of 15% of the cost of earned services.

 

2.01 Fee; Issuance and Delivery of the
Shares to Advisor. The Company shall pay the Fee in consideration of the Services. The Fee for the initial six months of the Term
shall be one million (1,000,000) restricted shares of the Company's common stock, and, if both parties agree in writing to extend
the Term an additional six (6) months as described in Section 7.01, the Fee shall be increased by (i) an additional one million
(1,000,000) shares of the Company's common stock for the second 6 months and (ii) the warrant attached hereto as Exhibit A. All
shares payable to Advisor as part of the Fee shall be delivered by the Company within twenty (20) days of their becoming due.

 

3.0.1 Representations of the Company. The Company warrants and
represents that:

 

3.0.1.1 Organization, Qualification,
and Corporate Power. The Company is a corporation duly organized, validly existing, and in good standing under the laws of the
state of Delaware. The Company has full corporate power and authority to enter into this Agreement and to render all performances
set forth in this Agreement.

 

3.0.1.2 Capitalization. The Shares
to be issued to Advisor shall be duly issued from the authorized capital stock of the Company. All of the Shares will be, upon
issuance and delivery to Advisor, shares of the Company's Common Stock that have been duly authorized, validly issued, fully paid,
and non-assessable.

 

3.0.1.3 Non-contravention. Neither
the execution and the delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will (i) violate
any injunction, judgment, order, decree, ruling, charge, or other restriction of any government, governmental agency, or court
to which of the Company is subject or any provision of the charter or bylaws of the Company or (ii) conflict with, result in a
breach of, constitute a default under, result in the acceleration of, create in any party the right to accelerate, terminate, modify,
or cancel, or require any notice under any agreement, contract, lease, license, instrument, or other arrangement to which the Company
is a party or by which it is bound or to which any of its assets is subject.

 

    	2

    	 

    

 

 

3.0.1.4
Brokers' Fees. The Company has no liability or obligation to pay any fees or commissions to any broker, finder, or agent with
respect to any later sale of the Shares by Advisor; the Company agrees, however, to provide Advisor promptly and upon request,
with any documentation reasonably needed by Advisor to support the issuance of the Shares to Advisor in accordance with this Agreement.

 

4.01 Cooperation RE: Any Future
Re-Sale of Shares. If, following the issuance of the Shares to Advisor hereunder, Advisor later elects to effect a public
re-sale of the Shares (in one or more such transactions) pursuant to the holding period requirements of Rule 144 of the 1933
Act (the 144 Re-Sale) or any successor provision of then applicable law, Advisor shall deliver to the Company the following
(or as required by then applicable law): (i) a notice of intention to effect a public re-sale in accordance with Rule 144 of
the 1933 Act, (ii) a copy of the Form 144 filed by Advisor with the US Securities and Exchange Commission; (iii) a copy of a
customary broker's representation letter as completed and executed by Advisor's broker; and (iv) any other customary
documents then required by Rule 144 of the 1933 Act (collectively, the Documents). Within five (5) business days after
receipt of the Documents, the Company will use its best efforts to cause its legal counsel to review all such documents for
the purposes of issuing instructions to the Company's stock transfer agent instructing said stock transfer agent to effect
the 144 Re-Sale as requested by Advisor and Advisor's stock broker, provided that the determination of facts and
interpretation of applicable regulations required to issue such opinion shall be at the sole discretion of the legal counsel.
In addition, the Company agrees that it shall cooperate and assist Advisor in all such matters and the parties acknowledge
and agree that time is and will be at all times of the essence in all such 144 Re-Sale transactions. Similarly and in the
event that Advisor should later elect to effect a private re-sale or private transfer of the Shares (in one or more such
transactions), the Company and its legal counsel shall, on the same basis and subject to the Company's receipt of customary
documents used in connection with private resales of restricted stock under the 1933 Act and subject to Advisor's
adherence to the requirements of the 1933 Act, issue instructions to the Company's stock transfer agent instructing said
stock transfer agent to effect any such private re-sales as requested by Advisor within the Response Period following receipt
of customary documentation provided by Advisor and Advisor's transferee. In the event that the Company believes or has reason
to believe that any Documents or said documentation is deficient to support any sale or transfer of the Shares (in any public
re-sale or private re-sale transaction) the Company shall, by telecopy, promptly and without delay inform Advisor of any said
deficiencies within the Response Period. However, notwithstanding the terms of this Section 4.01, Advisor shall be solely
responsible for all fees, commissions, or other costs paid to Advisor's stock broker.

 

5.01 Duties of Advisor RE: Confidential
Information. In consideration of the disclosures and transfer of Confidential Information by the Company to Advisor (Confidential
Information is any information, business plan, formula, expectation, financial projection, estimate, data or other information
provided by Company to Advisor that is marked "confidential" or that the Company verbally indicates to Advisor is confidential),
Advisor agrees to the following:

 

5.0.1.1 Duty of Non-Disclosure.
Advisor shall not disclose or transfer the Confidential Information to any third party or entity nor reproduce same without the
Company's prior written consent.

 

    	3

    	 

    

 

5.0.1.2
Duty of Non-Use. Advisor shall not use or exploit, for any commercial, business, investment, academic or other purposes, the Confidential
Information except as allowed by Section 5.01 of this Agreement The parties hereby deem any such unauthorized use or exploitation
as detrimental to the Company.

 

5.0.1.3 Return of Confidential
Information. All written Confidential Information provided to Advisor or which Advisor receives from the Company, shall remain,
at all times, the sole property of the Company and shall be returned to the Company within thirty (30) days upon the Company's
written request.

 

5.0.1.4 Responsibility for Employees
of Advisor. The actions or negligence of the Advisor's employees shall be deemed the actions of Advisor with respect to the obligations
of Advisor under this Agreement. This provision shall not be construed as limiting any rights or remedies that the Company has
or may have against any such third parties.

 

5.0.1.5 Limitation of Advisor's
Obligations. Advisor's obligation under this Agreement shall not apply to:

 

(a)      
Information which, at the time of its disclosure or transfer to Advisor, is in the public domain through no act or failure
to act by Advisor.

 

(b)     
Information which Advisor had prior to any disclosure or transfer by the Company and which was not acquired directly or
indirectly from the Company.

 

(c)      
Information which is rightly disclosed to Advisor by any third party who has no obligation of confidentiality to the Company
or who did not acquire such information from the Company.

 

(d)     
Information independently developed by Advisor prior to disclosure or transfer of the Confidential Information to Advisor
from the Company.

 

6.01. Adherence to Federal and State Securities
Laws. Both Advisor and the Company agree that the parties shall adhere to state and federal securities laws in connection with
the actions to be taken by each party under this Agreement.

 

7.01. Term and Termination. The
services to be rendered by Advisor shall be rendered for a period of six (6) months from the date of this Agreement. The
Company and Advisor may in writing extend the Agreement an additional six (6) months on the terms specified herein. This
Agreement may be terminated at any time by either party by written notice to the other party, but such termination shall not
affect the obligation of the Company to issue the Shares due Advisor hereunder provided that if Advisor terminates the
Agreement prior to the end of the initial Term or any 6-month extension for any reason they shall only be entitled to retain
the pro-rated portion of the Fee for the amount of time actually served under this Agreement up to the date of termination.
The obligations of the Company to issue the Shares to Advisor shall not otherwise be affected by any such termination or by
the extent of the work or services rendered by Advisor.

 

    	4

    	 

    

 

8.01. Indemnification by Company. The Company
shall indemnify and hold the Advisor and each employee and agent of Advisor harmless against any and all loss, liability, claim,
damage and expense whatsoever arising out of any untrue statement or alleged untrue statement of a material fact contained in any
disclosure documents, offering memorandum and other disclosure memoranda or, any amendment or supplement thereto, or, the omission
or alleged omission there from of a material fact required to be stated therein or necessary in order to make the statements therein
in the light of the circumstances under which they were made not misleading.

 

9.01. Responsibility for Filings. The Company
agrees that it shall be solely and exclusively responsible for filing any notices, reports, or making any application for permits
or qualifications under applicable state and federal securities laws in connection with the issuance of the Shares to Advisor and
that the Company will provide Advisor, upon Advisor's request, with all copies of the same within five (5) business days of the
Company's receipt of a written request from Advisor.

 

10.01. Invalid Provisions. If any one or
more of the provisions of this Agreement, or the applicability of any such provision to a specific situation, shall be held invalid
or unenforceable, such provision shall be modified to the minimum extent necessary to make it or its application valid and enforceable,
and the validity and enforceability of all other provisions of this Agreement and all other applications of any such provision
shall not be affected thereby.

 

11.01. Binding Effect. This Agreement shall
be binding upon and inure to the benefit of the Company and Advisor and their respective heirs, successors, and assigns.

 

12.01. Advice of Counsel. Each party has
received independent legal advice from its respective attorneys concerning the advisability of entering into this Agreement.

 

13.01. Integration; Modification; Waiver.
This Agreement constitutes the complete and final expression of the agreement of the parties relating to the business services
described in this Agreement to be provided by Advisor to the Company and this Agreement supersedes all previous contracts, agreements,
and understandings of the parties, either oral or written, relating thereto. This Agreement cannot be modified, or any of the terms
hereof waived, except by an instrument in writing (referring specifically to this Agreement) executed by the party against whom
enforcement of the modification is sought.

 

14.01. Governing Law; Arbitration. This
Agreement shall be governed by and construed in accordance with the laws of the State of California. Both parties hereto further
agree that any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by arbitration
in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgment upon the award rendered
by the arbitrator(s) may be entered in any court having jurisdiction thereof. Both parties further agree that any arbitration entered
into or arising out of this Agreement shall take place in Los Angeles, California.

 

    	5

    	 

    

 

15.01. Attorney's Fees. If any action at
law or equity is necessary to enforce or interpret the terms of this Agreement or otherwise arises out of this Agreement, the prevailing
party shall be entitled to reasonable attorney's fees, costs, and necessary disbursements in addition to any other relief to which
it may be entitled.

 

16.01. Notice. Any approval, disapproval,
demand, document, or other notice or communication ("Notice") required or permitted to be given hereunder, shall be in
writing and sent by certified mail (return receipt requested, postage prepaid) or by overnight express delivery or by telecopy.
Any Notice shall be effective when received as indicated by the date on the return invoice or receipt showing delivery.

 

17.01. Survival. The representations and
warranties made by the parties to this Agreement, and their respective obligations to be performed under its terms shall survive
the termination of this Agreement but shall expire six (6) years from the date this Agreement is terminated.

 

18.01. Authority of Executing Officers.
The Company and Advisor warrant, acknowledge, and agree, that the individual executing this Agreement on their behalf has been
duly authorized to execute this Agreement with full power and authority.

 

19.01. Counterpart Execution. This Agreement
may be executed in several counterparts, each of which shall be fully effective as an original and all of which shall constitute
one and the same instrument.

 

THIS AGREEMENT has been executed and entered into effective
the first date written above.

 

FOR THE COMPANY:

 

 

By: /s/ Haig Keledjian                     

Haig Keledjian

Chief Executive Officer

 

FOR ADVISOR:

 

 

By: /s/ John Michael Johnson             

John Michael Johnson

 

    	6

    	 

    

 

EXHIBIT A

 

VIRAL GENETICS,
INC.

 

Warrant for the Purchase of

Shares of Common Stock

Par Value $0.0001 

 

WARRANT AGREEMENT

 

THE HOLDER OF THIS WARRANT, BY ACCEPTANCE
HEREOF, BOTH WITH RESPECT TO THE WARRANT AND COMMON STOCK ISSUABLE UPON EXERCISE OF THE WARRANT, AGREES AND ACKNOWLEDGES THAT THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE TRANSFERRED
OR SOLD IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT OR OTHER COMPLIANCE UNDER THE SECURITIES ACT OR THE LAWS OF THE APPLICABLE
STATE OR A "NO ACTION" OR INTERPRETIVE LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE ISSUER, AND ITS COUNSEL, TO THE EFFECT THAT THE SALE OR TRANSFER IS EXEMPT FROM REGISTRATION UNDER THE SECURITIES
ACT AND SUCH STATE STATUTES.

 

This is to certify
that, for value received, John Michael Johnson (the "Holder") is entitled to purchase from VIRAL GENETICS, INC.,
a Delaware corporation (the "Company"), on the terms and conditions hereinafter set forth, all or any part of 1,000,000
shares ("Warrant Shares") of the Company's common stock, par value $0.0001 (the "Common Stock"), at the purchase
price of $0.01 per share ("Warrant Price"). Upon exercise of this warrant in whole or in part, a certificate for the
Warrant Shares so purchased shall be issued and delivered to the Holder. If less than the total warrant is exercised, a new warrant
of similar tenor shall be issued for the unexercised portion of this warrant. By acceptance hereof, the Holder agrees to be bound
by the terms and conditions of this warrant.

 

This warrant is granted subject to the following further
terms and conditions:

 

		1.	This warrant shall vest and be exercisable immediately,
and shall expire at 5:00 pm Pacific Time on the two-year anniversary of the date affixed hereof. In order to exercise this warrant
with respect to all or any part of the Warrant Shares for which this warrant is at the time exercisable, Holder must take the
following actions:

 

		(a)	Deliver to the Corporate Secretary of the Corporation an
executed notice of exercise in substantially the form of notice attached to this Agreement (the "Exercise Notice") in
which there is specified the number of Warrant Shares that are to be purchased under the exercised warrant.

 

		(b)	Pay the aggregate Warrant Price for the purchased shares
through full payment in cash or by check made payable to the Corporation’s order.

 

 

    	7

    	 

    

 

		(c)	Furnish to the Corporation appropriate documentation that
the person or persons exercising the warrant (if other than Holder) have the right to exercise this warrant.

 

		(d)	For purposes of this Agreement, the Exercise Date shall
be the date on which the executed Exercise Notice shall have been delivered to the Company. Except to the extent the sale and
remittance procedure specified above is utilized in connection with the warrant exercise, payment of the Warrant Price for the
purchased shares must accompany such Exercise Notice.

 

		(e)	Upon such exercise, the Company shall issue and cause to
be delivered with all reasonable dispatch (and in any event within three business days of such exercise) to or upon the written
order of the Holder at its address, and in the name of the Holder, a certificate or certificates for the number of full Warrant
Shares issuable upon the exercise together with such other property (including cash) and securities as may then be deliverable
upon such exercise. Such certificate or certificates shall be deemed to have been issued and the Holder shall be deemed to have
become a holder of record of such Warrant Shares as of the Exercise Date.

 

2.               
The Warrant Shares have not and may not be registered as of the date of exercise of this warrant under the Securities Act
or the securities laws of any state. This warrant and the Warrant Shares issuable on exercise of the warrant, when and if issued,
are and may be "restricted securities" as defined in Rule 144 promulgated by the Securities and Exchange Commission and
must be held indefinitely unless subsequently registered under the Securities Act and any other applicable state registration requirements,
or an exemption from such registration requirements for resale is available. The Company is under no obligation to register the
securities under the Securities Act or under applicable state statutes. In the absence of such a registration or an available exemption
from registration, sale of the Warrant Shares will be prohibited. The Holder shall confirm to the Company the representations set
forth above in connection with the exercise of all or any portion of this warrant.

 

3.               
The Company, during the term of this Agreement, will obtain from the appropriate regulatory agencies any requisite authorization
in order to issue and sell such number of shares of its Common Stock as shall be sufficient to satisfy the requirements of the
Agreement.

 

4.               
The number of Warrant Shares purchasable upon the exercise of this warrant and the Warrant Price per share shall be subject
to adjustment from time to time subject to the following terms. If the outstanding shares of Common Stock of the Company are increased,
decreased, changed into or exchanged for a different number or kind of shares of the Company through reorganization, recapitalization,
reclassification, stock dividend, stock split or reverse stock split, the Company or its successors and assigns shall make an appropriate
and proportionate adjustment in the number or kind of shares, and the per-share Warrant Price thereof, which may be issued to the
Holder under this Agreement upon exercise of the warrants granted under this Agreement. The purchase rights represented by this
warrant shall not be exercisable with respect to a fraction of a share of Common Stock. Any fractional shares of Common Stock arising
from the dilution or other adjustment in the number of shares subject to this warrant shall be rounded up to the nearest whole
share.

 

5.               
The Company covenants and agrees that all Warrant Shares which may be delivered upon the exercise of this warrant will,
upon delivery, be free from all taxes, liens, and charges with respect to the purchase thereof; provided, that the Company shall
have no obligation with respect to any income tax liability of the Holder.

 

    	8

    	 

    

 

6.               
The Company agrees at all times to reserve or hold available a sufficient number of shares of Common Stock to cover the
number of Warrant Shares issuable upon the exercise of this and all other warrants of like tenor and other convertible securities
then outstanding.

 

7.               
This warrant shall not entitle the Holder hereof to any voting rights or other rights as a shareholder of the Company, or
to any other rights whatsoever, except the rights herein expressed, and no dividends shall be payable or accrue in respect of this
warrant or the interest represented hereby or the Warrant Shares purchasable hereunder until or unless, and except to the extent
that, this warrant shall be exercised.

 

8.               
The Company may deem and treat the registered owner of this warrant as the absolute owner hereof for all purposes and shall
not be affected by any notice to the contrary.

 

9.               
In the event that any provision of this Agreement is found to be invalid or otherwise unenforceable under any applicable
law, such invalidity or unenforceability shall not be construed as rendering any other provisions contained herein invalid or unenforceable,
and all such other provisions shall be given full force and effect to the same extent as though the invalid or unenforceable provision
were not contained herein.

 

10.            
This Agreement shall be governed by and construed in accordance with the internal laws of the state of Delaware, without
regard to the principles of conflicts of law thereof.

 

11.            
In case this warrant shall be mutilated, lost, stolen, or destroyed, the Company may at its
discretion issue and deliver in exchange and substitution for and on cancellation of the mutilated warrant, or in lieu of and substitution
for the warrant lost, stolen, or destroyed, a new warrant of like tenor and representing an equivalent right or interest; but only
on receipt of evidence satisfactory to the Company of such loss, theft, or destruction of this warrant and indemnity satisfactory
to the Company. The Holder shall also comply with such other reasonable regulations and pay such other reasonable charges as the
Company may prescribe.

 

12.            
This Agreement shall be binding on and inure to the benefit of the Company and the person to whom a warrant is granted hereunder,
and such person's heirs, executors, administrators, legatees, personal representatives, assignees, and transferees.

 

IN WITNESS WHEREOF,
the Company has caused this warrant to be executed by the signature of its duly authorized officer, effective this ~~~~day of ~~~~~~~~~~~2010.

 

 

VIRAL GENETICS, INC.

 

 

By__________________

Duly Authorized Officer

 

 

    	9

    	 

    

 

Exercise Notice

(to be signed only upon exercise of warrant)

 

TO: VIRAL GENETICS, INC.

 

The Holder of the attached warrant
hereby irrevocable elects to exercise the purchase rights represented by the warrant for, and to purchase thereunder, ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~shares
of common stock of Viral Genetics, Inc., and herewith makes payment therefor, and requests that the certificate(s) for such shares
be delivered to the Holder at:

 

__________________________________________________________________________________

 

__________________________________________________________________________________

 

If acquired without registration under
the Securities Act of 1933, as amended ("Securities Act"), the Holder represents that the Common Stock is being
acquired without a view to, or for, resale in connection with any distribution thereof without registration or other compliance
under the Securities Act and applicable state statutes, and that the Holder has no direct or indirect participation in any such
undertaking or in the underwriting of such an undertaking. The Holder understands that the Common Stock has not been registered,
but is being acquired by reason of a specific exemption under the Securities Act as well as under certain state statutes for transactions
by an issuer not involving any public offering and that any disposition of the Common Stock may, under certain circumstances,
be inconsistent with these exemptions. The Holder acknowledges that the Common Stock must be held and may not be sold, transferred,
or otherwise disposed of for value unless subsequently registered under the Securities Act or an exemption from such registration
is available. The Company is under no obligation to register the Common Stock under the Securities Act, except as provided in
the Agreement for the warrant. The certificates representing the Common Stock will bear a legend restricting transfer, except
in compliance with applicable federal and state securities statutes.

 

The Holder agrees and acknowledges
that this purported exercise of the warrant is conditioned on, and subject to, any compliance with requirements of applicable federal
and state securities laws deemed necessary by the Company.

 

 

	DATED this ~~~~~~~~day of	 	, ~~~~~~~~~~.
	 	Signature	 

 

 

    	10

    	 

    

Transfer Form

FOR VALUE RECEIVED, ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~hereby
sell, assign, and transfer unto

 

__________________________________________________________________________________

 

__________________________________________________________________________________

 

 

warrants to purchase shares of the Common Stock
of Viral Genetics, Inc., represented by the within instrument, and do hereby irrevocably constitute and appoint:

 

 

to transfer said warrants stock
on the books of the within named Corporation with full power of substitution in the premises.

 

 

Dated~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~, ~~~~~~~~~~~~~~~.

 

 

In presence of

 

 

                                                                                                   _________________________________________

 

____________________________________

 

    	11

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