Document:

caba-ex101_10.htm

 

Exhibit 10.1

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF DISCLOSED.

 

AMENDMENT NO. 2 TO SPONSORED RESEARCH AGREEMENT

This Amendment No. 2 to the Sponsored Research Agreement (“Amendment 2”) by and between by and between The Trustees of the University of Pennsylvania, a Pennsylvania nonprofit corporation (“Penn”), with offices located at Penn Center for Innovation, 3600 Civic Center Blvd, 9th Floor, Philadelphia, PA 19104-4310, and Cabaletta Bio, Inc., a Delaware corporation, having a place of business at 2929 Arch Street, Suite 600, Philadelphia, PA 19104 (formerly Tycho Therapeutics, Inc., a Delaware corporation having a place of business at 501 Northwick Lane, Villanova, PA 19085) (“Sponsor”) is effective as of May 1, 2020 (“Amendment Effective Date”).  Penn and Sponsor may be referred to herein as a “Party” or, collectively, as “Parties.”

Penn and Sponsor may be referred to herein as a “Party” or, collectively, as “Parties”.

RECITALS:

WHEREAS, the Parties entered into a Sponsored Research Agreement dated April 23, 2018 (“Agreement”), as amended by Amendment No. 1 dated May 1, 2020 (“Amendment 1”). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Agreement, as amended by Amendment 1; and

WHEREAS, the Parties now desire to amend the Agreement to clarify the aims, funding, and end dates set forth in the Agreement and Amendment 1.

NOW, THEREFORE, in consideration of the various promises and undertakings set forth herein, the Parties agree as follows:

	
 
	
1.
	
Scope of work.  

	
 
	
a.
	
The scope of work detailed in Attachment A to the Agreement shall be referred to herein as the “Original Workplan”.

	
 
	
b.
	
The additional scope of work detailed in Attachment A-1 of Amendment 1 shall be referred to herein as the “Supplemental Workplan”.

	
 
	
2.
	
[***].

	
 
	
3.
	
Term.  Section 7.1 of the Agreement is hereby deleted and replaced with the following:

“Term. (a) The term of this Agreement as it applies to the Original Workplan shall begin on the Effective Date of the Agreement (April 23, 2018) and shall end on [***] unless terminated sooner pursuant to Sections 2.2 or 7.2 of the Agreement.  

(b) The term of this Agreement as it applies to the Supplemental Workplan shall begin on the [***] and shall end on [***] unless terminated sooner pursuant 

 

to Sections 2.2 or 7.2 of the Agreement. The Agreement may be extended or renewed only by mutual written agreement by duly authorized representatives of the Parties.”

	
 
	
4.
	
Payment Terms.  The payment terms set forth in Attachment A-1 to Amendment 1 are intended to govern payments made in connection with work performed under the Supplemental Workplan only, and are not intended to govern payments made in connection with work performed under the Original Workplan.  Invoicing for and payments made in connection with the Original Workplan and the Supplemental Workplan will remain separate.  For clarity, the payment schedule with respect to both the Original Workplan and the Supplemental Workplan are unchanged by this amendment, with the last such payment with respect to the Original Workplan being due and payable on [***] and the last such payment with respect to the Supplemental Workplan being due and payable at the conclusion of the Supplemental Workplan as set forth in Attachment A-1 of Amendment 1.  In the event that, at the conclusion of the Original Workplan, the funding provided by Sponsor in consideration of the Research performed under the Original Workplan are greater than the amount expended in the performance by Penn of the Research performed under the Original Workplan, then the Parties shall discuss in good faith an amendment to the Agreement directed toward utilization of such excess funding.  

	
 
	
5.
	
Entire Agreement of the Parties; Amendments.  The Agreement, including any Exhibits and as amended by Amendment 1 and this Amendment 2, constitutes and contains the entire understanding and agreement of the Parties respecting the subject matter hereof and cancel and supersedes any and all prior negotiations, correspondence, understandings and agreements between the Parties, whether oral or written, regarding such subject matter.  No waiver, modification or amendment of any provision of the Agreement and/or Amendment 1 and/or this Amendment 2 shall be valid or effective unless made in a writing referencing the Agreement and/or this Amendment 1 and/or this Amendment 2 and signed by a duly authorized officer of each Party. 

	
 
	
6.
	
Counterparts.  This Amendment 2 may be executed in counterparts, each of which will be deemed an original, and all of which together will be deemed to be one and the same instrument.  A portable document format (PDF) or electronic copy of this Amendment 2, including the signature pages, will be deemed an original.

IN WITNESS WHEREOF, the duly authorized representatives of the Parties hereby execute this Amendment as of the date first written above.

 

		
	
THE TRUSTEES OF THE

UNIVERSITY OF PENNSYLVANIA

 

By: /s/ Christine S. Baxter

Name: Christine S. Baxter 

Title:   Sr. Assoc. Dir., Corp. Contracts
	
CABALETTA BIO, INC.

 

 

By: /s/ Steven Nichtberger

Name: Steven Nichtberger, M.D.

Title:   Chief Executive Officer

 

		
	
 

 

I have read and understood the responsibilities of the Principal Investigator:

 

By: /s/ Aimee Payne 

Name: Aimee Payne, M.D., Ph.D.staf-ex103_185.htm

Exhibit 10.3

AMENDMENT NO. 3

to

AMENDED AND RESTATED WARRANT AGREEMENT

THIS AMENDMENT NO. 3 dated October 26, 2020 (this “Amendment”) amends the Warrant (defined below), and is by and between Staffing 360 Solutions, Inc., a Delaware corporation (the “Company”), and Jackson Investment Group, LLC, a Georgia limited liability company (together with its successors and assigns, the “Holder”).

WHEREAS, on April 25, 2018, the Company and Holder entered into an Amended and Restated Warrant Agreement, as amended by that certain Amendment No. 1 dated as of August 27, 2018 and by that certain Amendment No. 2 dated as of November 15, 2018  (as so amended, the “Warrant”), which entitles Holder to purchase 905,508 shares of the Company’s common stock, par value $0.00001 per share (“Common  Stock”), at a current exercise price of $1.66 per share (each subject to adjustment as provided in the Warrant); and

WHEREAS, in connection with the Holder’s execution of that certain Amended and Restated Note Purchase Agreement dated as of the date hereof, between Holder and the Company, the parties desire to further amend the Warrant to decrease the Exercise Price and to extend the Exercise Period.

NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree that the Warrant shall be amended as follows:

1.Capitalized terms used herein and not otherwise defined shall have the meanings ascribed in the Warrant.

2.Section 3.1 of the Warrant is hereby amended and restated in its entirety to read as follows:

“Section 3.1 Exercise Price. The Warrant shall entitle the Registered Holder thereof, subject to the provisions of this A&R Warrant Agreement, the right to purchase from the Company up to 905,508 shares of Common Stock at the price of $1.00 per share, subject to adjustment from time to time as provided in Article IV (the “Exercise Price”).”

3.Section 3.2 of the Warrant is hereby amended and restated in its entirety to read as follows:

“Section 3.2 Exercise Period.  The Warrant may be exercised by the Registered Holder thereof, in whole or in part (but not as to a fractional share of Common Stock), at any time and from time to time commencing six months following the Date of Issuance and prior to 5:00 P.M., New York time on January 26, 2026 (the “Exercise Period”); provided that Registered Holder shall be able to exercise its Warrant only if the exercise of such Warrant is exempt from, or in compliance with, any applicable registration requirements of the Securities Act and the applicable securities laws of the states in which the Registered Holder of the Warrant or other persons to whom it is proposed that the Warrant Exercise Shares be issued, on exercise of the Warrant reside.  To the extent that the Warrant or portion thereof is not exercised prior to the expiration of the Exercise Period, it shall be automatically cancelled with no action by any Person, and with no further rights thereunder, upon such expiration.”

 

US2008 17653818 3 

 

4.On and after the date of this Amendment, the parties agree that the term “A&R Warrant Agreement”, appearing in the Warrant certificate issued to Holder in connection with the Warrant, shall be deemed to refer to the Warrant agreement as amended by this Amendment and as the same may hereafter be amended, restated, supplemented or modified from time to time.

5.This Amendment may be executed in any number of original or facsimile or electronic PDF counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

[Intentionally blank – signatures on next page]

 

 

[Signature Page to Amendment No. 3 to Amended and Restated Warrant Agreement]

 

 

IN WITNESS WHEREOF, this Amendment No. 3 has been duly executed by the undersigned parties hereto, effective as of the date first above written.

COMPANY:

STAFFING 360 SOLUTIONS,  INC.

By:   /s/ Brendan Flood

Brendan Flood, Chairman and Chief Executive Officer

[Signature Page to Amendment No. 3 to Amended and Restated Warrant Agreement]

 

 

Accepted and agreed:

JACKSON INVESTMENT GROUP, LLC

By: /s/ Richard L. Jackson

Richard L. Jackson, Chief Executive Officer

 

 

[Signature Page to Amendment No. 3 to Amended and Restated Warrant Agreement]

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