Document:

Exhibit 10.2

 

AMENDMENT
NO. 1 TO PLEDGE AGREEMENT

 

THIS
AMENDMENT NO. 1 ( this “Amendment”), dated April 6, 2017, to the PLEDGE AGREEMENT, dated as of October
25, 2016 (the “Agreement”) between Amarantus Biosciences Holdings, Inc. (“Borrower”) and
Xpress Group International Limited (“Xpress”) and Dominick Membership, LLC (“Dominick”
and together with Xpress, “Purchasers” and each, a “Purchaser”) for the benefit of
Purchasers, it being understood that subject to the terms of the First Purchase Agreement (as defined below), any right, remedy,
privilege or power of Purchasers shall be exercised by each Purchaser together or individually.

 

RECITALS

 

WHEREAS,
pursuant to that certain Securities Purchase Agreement dated as of October 25, 2016, by and among the (a) the Purchasers on the
one hand, and (b) Borrower, on the other hand (including all annexes, exhibits and schedules thereto, as from time to time amended,
restated, supplemented or otherwise modified, the “First Purchase Agreement,”) the Borrower sold to
the Purchasers the notes in the aggregate amount of $250,000 described in the First Purchase Agreement (the “First Notes”)
upon the terms and subject to the conditions set forth therein;

 

WHEREAS,
pursuant to that certain Securities Purchase Agreement, dated as of even date herewith, by and among (a) Xpress on the one hand;
and (b) the Borrower on the other hand (including all annexes, exhibits and schedules thereto, as from time to time to have amended,
restated, supplemented or otherwise modified, the “Second Purchase Agreement”), the Borrower has agreed to
sell to Xpress, and Xpress has agreed to purchase, the note in the aggregate amount of $100,000 described herein (the “Second
Note”) upon the terms and subject to the conditions set forth therein;

 

WHEREAS,
as a partial inducement to the Purchasers to enter into the First Purchase Agreement, Borrower agreed to provide security for
payment of the obligations thereunder;

 

WHEREAS,
it was a condition precedent to the obligation of the Purchasers to purchase the First Notes that the Borrower shall have executed
and delivered the Agreement to secure payment and performance of the obligations thereunder;

 

WHEREAS,
in order to secure the payment and performance in full of all of the First Note, the Borrower pledged, assigned and granted a
security interest in, transferred and delivered unto the Purchasers, all of the Borrower’s rights, title and interest in
and to 5.5 million restricted shares of Avant Diagnostics, Inc. Common Stock owned by the Borrower (the “Pledged Stock”
or the “Collateral”), together with all other rights appurtenant to the Pledged Stock (excluding voting
rights which shall be maintained by the Borrower), as well as all cash and non-cash proceeds or any and all of the foregoing;

 

WHEREAS,
the Borrower agreed to cause the issuance of certificates totaling 5.5 million shares of the Pledged Stock in pro-rata proportion
to each Purchaser’s investment amount;

 

WHEREAS,
it is a condition precedent the obligation of Xpress to purchase the Second Note that the Borrower shall have executed and delivered
this Amendment to secure payment and performance of the obligations thereunder; and

 

WHEREAS,
as partial inducement to Xpress to enter into the Second Purchase Agreement, Borrower has agreed to provide security for payment
of the obligations.

 

NOW,
THEREFORE, in consideration of the premises and the covenants set forth herein and in the Second Purchase Agreement, the parties
hereto agree as follows:

 

1.           Pledge.
In order to secure the payment and performance in full of all of the Second Note, the Borrower and the Purchasers hereby agree
that the Borrower’s pledge of the Pledged Stock shall include the pledge of the Pledged Stock for the repayment of the Second
Note on the same basis, and to the same extent, as the pledge of the Pledged Stock for payment of the First Note. All rights of
the holder of the Second Note to the Pledged Stock, shall be pari passu with the rights of the holders of the First Notes.

 

     

     

    

 

2.           Representations
and Warranties. Borrower hereby agrees the parties hereby agree that all of the representations and warranties set forth in
Section 3 of the Agreement remain accurate and complete, and shall apply to this Amendment, except that Section 3(d) is hereby
as amended as follows:

 

(d)         No
consent, approval, authorization or other order of any person or entity other than the approval of the Collateral Agent pursuant
to the inter-creditor agreement (“Original ICA”) dated as of April 14, 2016, as amended with (i) the inter-creditor
agreement executed concurrently with the First Purchase Agreement (“First Amended ICA”); and (ii) the inter-creditor
agreement executed concurrently with the Second Purchase Agreement with approval having been evidenced, is required for the execution
and delivery of this Agreement by Borrower or the delivery by Borrower of the Collateral to the Purchaser as provided herein except
as may be required in connection with the disposition of the Collateral by laws affecting the offering and sale of securities
generally.

 

3.       The
parties hereto that except as set forth above, all the representations, warranties, covenants, rights, remedies, exonerations
and other agreements set forth in the Agreement shall remain in full force and effect.

 

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

 

[The
rest of the page left intentionally blank]

 

    	 	2	 

     

    

 

DELAFIELD
INVESTMENTS LIMITED, as Collateral Agent

 

	By:	 	 
	 	 	 
	Name: 	 	 
	 	 	 
	Title:	 	 

  

XPRESS
GROUP INTERNATIONAL LIMITED

 

	By:	 	 
	 	 	 
	Name: 	 	 
	 	 	 
	Title:	 	 

 

DOMINICK
MEMBERSHIP, LLC

 

	By:	 	 
	 	 	 
	Name: 	 	 
	 	 	 
	Title:	 	 

 

AMARANTUS
BIOSCIENCE HOLDINGS, INC.

 

	By:	 	 
	 	 	 
	Name: 	 	 
	 	 	 
	Title:	 	 

 

 

3Exhibit 10.3

 

SECOND
AMENDMENT TO INTERCREDITOR AND SUBORDINATION GREEMENT

 

This
SECOND AMENDMENT TO INTERCREDITOR AND SUBORDINATION AGREEMENT (“Second Amendment”), dated as of April
6, 2017, by and among the holders of the Company’s Series E Preferred Stock (the “Series E Holders”)
and the holders of the Company’s Series H Preferred Stock (“Series H Holders”), Amarantus
Bioscience Holdings, Inc. (the “Company”), all of the subsidiaries of the Company (such subsidiaries,
the “Subsidiaries”, the Company jointly and severally, together with their respective successors and assigns,
collectively, the “Debtors”), GEMG LLC (“GEMG”), ANSON INVESTMENTS MASTER FUND LP (“Anson”),
DOMINION CAPITAL, LLC, (“Dominion”) and DELAFIELD INVESTMENTS LIMITED (“Delafield”) the
holders (collectively, the “April 2016 Holders”) of the Company’s 12% OID Senior Secured Convertible
Promissory Notes, in the original aggregate principal amount of $9,125,000 pursuant to the Senior Loan Agreement, Delafield in
its capacity as collateral agent (in such capacity, the “Collateral Agent”) and Dominick Membership LLC and
Xpress Group International Limited.

 

W
I T N E S S E T H:

 

WHEREAS,
Series E Holders, Series H Holders, the Debtors, GEMG, Anson, Dominion, Delafield, the April 2016 Holders and Delafield, in its
capacity as collateral agent, are party to that certain Intercreditor and Subordination Agreement dated as of April 14, 2016,
as amended on October 25, 2016 (the “April 2016 Intercreditor Agreement”);

 

WHEREAS,
the Company obtained financing from Xpress Group International Limited (“Xpress”) and Dominick Membership LLC
(“Dominick”; together with Xpress, collectively, the “October 2016 Holders”) in the aggregate
principal amount of $250,000, on the terms set forth in that certain Securities Purchase Agreement dated as of October 25, 2016
by and among the Company and the October 2016 Holders, which financing shall be secured by shares owned by the Company in Avant
Diagnostics, Inc. (the “Avant Common Stock”) pursuant to a Pledge Agreement dated October 25, 2016;

 

WHEREAS,
the Company has obtained additional financing from Xpress in the aggregate principal amount of $100,000, on the terms set forth
in that certain Securities Purchase Agreement, dated as of April 6, 2017, by and among the Company and Xpress, which financing
shall be secured by the Avant Common Stock pursuant to a Pledge Agreement dated April 6, 2017; and

 

WHEREAS,
the parties to the April 2016 Intercreditor Agreement wish to further amend the April 2016 Intercreditor Agreement to include
(i) that $100,000 in financing provided pursuant to the Securities Purchase Agreement dated as of April 6, 2017 by and among the
Company and Xpress, and (ii) any subsequent amounts that shall be invested by Xpress pursuant to the terms and conditions of a
subsequent securities purchase agreement that shall be pursuant to substantially the same terms and conditions as the Securities
Purchase Agreement dated as of April 6, 2017;

 

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

 

1.           Definitions.
Capitalized terms not otherwise defined herein shall have them meaning ascribed to them in the April 2016 Intercreditor Agreement.

 

    	 	1	 

     

    

 

2.           Amendments.
The following specific provisions of the April 2016 Intercreditor Agreement are hereby amended as follows:

 

         Section
4(e) of the April 2016 Intercreditor Agreement is deleted and restated as follows:

 

(e)
Any money, property or securities realized upon the sale, disposition or other realization by the Senior Lender upon all or any
part of the Collateral, shall be applied by the Senior Lender in the following order:

 

(i)         First,
to the payment in full of all costs and expenses (including, without limitation, attorneys’ fees and disbursements) paid
or incurred by the Senior Lender in connection with the realization on the Collateral or the protection of their rights and interests
therein;

 

(ii)         Second,
to the payment in full of all Senior Obligations in such order as the Senior Lender may elect in its sole discretion;

 

(iii)        Third,
to the payment in full of the notes issued pursuant to (i) that certain Securities Purchase Agreement dated as of October 25,
2016 by and among the Company and the October 2016 Holders, (ii) that certain Securities Purchase Agreement dated as of April
6, 2017 by and among the Company and Xpress, and (iii) any subsequent securities purchase agreement entered into between the Company
and Xpress on substantially the same terms and conditions as the terms and conditions of the Securities Purchase Agreement dated
as of April 6, 2017;

 

(iv)        Fourth,
to the payment in full of all Subordinated Obligations in such order as the Subordinated Lenders may elect in its sole discretion
which are secured by such Collateral, which shall be paid to the Subordinated Lenders; and

 

(vi)        Fifth,
to pay to the Debtors, or its representative or as a court of competent jurisdiction may direct, any surplus then remaining.

 

    	 	2	 

     

    

 

(e)       Schedule
I attached to the April 2016 Intercreditor Agreement is hereby deleted entirely replaced with the “Amended Schedule I”
attached to this Second Amendment.

 

3.           Amendments
in Writing; No Waiver; Cumulative Remedies.

 

(a)         None
of the terms or provisions of this Second Amendment may be waived, amended, supplemented or otherwise modified except by a written
instrument executed by the Senior Lender, the Debtors and each of the Subordinated Lenders; provided that any provision of this
Second Amendment may be waived by the Senior Lender in a letter or agreement executed by the Senior Lender or by telex or facsimile
transmission from the Senior Lender.

 

(b)         No
failure to exercise, nor any delay in exercising, on the part of either the Senior Lender or the Subordinated Lenders, any right,
power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege
hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege.

 

(c)         The
rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other
rights or remedies provided by law.

 

4.           Counterparts.
This Second Amendment may be executed in any number of counterparts, but all of such counterparts shall together constitute but
one and the same agreement. In making proof of this Second Amendment, it shall not be necessary to produce or account for more
than one counterpart thereof signed by each of the parties hereto. Delivery of an executed counterpart of this Second Amendment
by telecopier or other electronic means shall have the same force and effect as delivery of an original executed counterpart of
this Second Amendment. Any party delivering an executed counterpart of this Second Amendment by telecopier or other electronic
means also shall deliver an original executed counterpart of this Second Amendment, but the failure to deliver an original executed
counterpart shall not affect the validity, enforceability, and binding effect of this Second Amendment as to such party or any
other party.

 

5.           Successors
and Assigns.

 

(a)         This
Second Amendment shall be binding upon the successors, heirs, administrators, executors and assigns of the Debtors and the Subordinated
Lenders and shall inure to the benefit of the Senior Lender and their successors and assigns.

 

    	 	3	 

     

    

 

(b)         Upon
a successor Senior Lender becoming the Senior Lender under the Senior Loan Agreement, such successor Senior Lender automatically
shall become the Senior Lender hereunder with all the rights and powers of the Senior Lender hereunder without the need for any
further action on the part of any party hereto.

 

6.           Severability.
Any provision of this Second Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

 

7.           Integration.
This Second Amendment represents the agreement of the Senior Lender and the Subordinated Lenders with respect to the subject
matter hereof and there are no promises or representations by the Senior Lender or the Subordinated Lenders relative to the subject
matter hereof not reflected herein.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 	4	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be duly executed and delivered as of the day and year
first above written.

 

SENIOR
LENDERS:

 

GEMG
LLC

 

	By:	 	 
	 	 	 
	Title:	 	 

Amount
of Preferred Stock:______

Amount
of Debt:______________

 

[SIGNATURE
PAGES OF THE SUBORDINATED LENDERS AND DEBTORS FOLLOW]

 

Signature
Page to Second Amendment to Intercreditor and Subordination Agreement

 

     

     

    

 

[SIGNATURE
PAGES OF THE SUBORDINATED LENDERS]

 

HOLDERS
OF SERIES E PREFERRED STOCK:

 

DOMINION
CAPITAL, LLC

 

	By:	 	 
	 	 	 
	Title:	 	 

Amount
of Preferred Stock:______

Amount
of Equity:_____________

 

[________________________]

  

	By:	 	 
	 	 	 
	Title:	 	 

Amount
of Preferred Stock:______

Amount
of Equity:_____________

 

[________________________]

 

	By:	 	 
	 	 	 
	Title:	 	 

Amount
of Preferred Stock:______

Amount
of Equity:_____________

 

HOLDERS
OF SERIES H PREFERRED STOCK:

 

ANSON
INVESTMENTS MASTER FUND LP

 

	By:	 	 
	 	 	 
	Title:	 	 

Amount
of Preferred Stock:______

Amount
of Equity:_____________

 

[________________________]

 

	By:	 	 
	 	 	 
	Title:	 	 

Amount
of Preferred Stock:______

Amount
of Equity:_____________

 

Signature
Page to Second Amendment to Intercreditor and Subordination Agreement

 

     

     

    

 

[SIGNATURE
PAGES OF THE SUBORDINATED LENDERS, CONT’D]

 

ANSON
INVESTMENTS MASTER FUND LP

 

	By:	 	 
	 	 	 
	Title:	 	 

Amount
of Preferred Stock:______

Amount
of Debt:______________

 

DELAFIELD
INVESTMENTS LIMITED, on behalf of itself and as Collateral Agent

 

	By:	 	 
	 	 	 
	Title:	 	 

Amount
of Preferred Stock:______

Amount
of Debt:______________

Amount
of Equity:_____________

 

DOMINION
CAPITAL, LLC

 

	By:	 	 
	 	 	 
	Title:	 	 

Amount
of Preferred Stock:______

Amount
of Debt:______________

Amount
of Equity:____________

 

[SIGNATURE
PAGES OF THE DEBTORS FOLLOW]

 

Signature
Page to Second Amendment to Intercreditor and Subordination Agreement

 

     

     

    

 

DEBTORS:

 

	AMARANTUS
    BIOSCIENCE HOLDINGS, INC.	 
	 	 	 
	By:	                       	 
	Name: 	 	 
	Title:	 	 
	 	 	 
	AMARANTUS
    THERAPEUTICS, INC.	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	AMARANTUS
    THERAPEUTICS, INC.	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	AMARANTUS
    MA, INC.	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	CUTANOGEN
    CORPORATION	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

Signature
Page to Second Amendment to Intercreditor and Subordination Agreement

 

     

     

    

 

AMENDED
SCHEDULE I

 

[TO
BE COMPLETED]

 

 

Signature
Page to Second Amendment to Intercreditor and Subordination Agreement

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