Document:

Exhibit 4.5

 

 

 

AMENDMENT NO. 3 TO

FIFTH AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

This Amendment No. 3 (this “Amendment”)
to the Fifth Amended and Restated Registration Rights Agreement, dated August 9, 2013 (the “Registration Rights Agreement”),
by and among the Company and the Holders (as defined therein) is entered into as of the 6th day of March, 2017 by and among Argos
Therapeutics, Inc., a Delaware corporation (the “Company”), and each of the signatories hereto. Capitalized
terms not defined herein shall have the meanings given to such terms in the Registration Rights Agreement.

 

RECITALS

 

WHEREAS, the Company is entering into a payoff
letter with Horizon Technology Finance Corporation and its affiliates (“Horizon”) and entities affiliated with
Fortress Credit Opportunities (“Fortress,” and together with Horizon, the “Lenders”) (the
“Payoff Letter”) with respect to the venture loan and security agreement with Horizon as a lender and collateral
agent and Fortress as a lender, dated September 29, 2014, pursuant to which Payoff Letter the Company has agreed to issue warrants
to each Lender for the purchase of common stock of the Company and to grant certain specified registration rights with respect
to the shares of common stock issuable upon exercise of such warrants;

 

WHEREAS, the Company and the Requisite Holders
(as defined below) desire to amend the Registration Rights Agreement to enable the grant of registration rights;

 

WHEREAS, the Registration Rights Agreement may
be amended pursuant to Section 16.1 thereof only with the written consent of the (a) Company and (b) the Holders holding (i) more
than 60% of the Registrable Securities and (ii) at least 70% of the Series E Registrable Securities (together, the “Requisite
Holders”); and

 

WHEREAS, the Company and the Requisite Holders
desire to amend the Registration Rights Agreement as set forth herein.

 

NOW, THEREFORE, in consideration of the mutual
covenants contained herein and for other valuable consideration, the receipt of which is hereby acknowledged, the parties agree
as follows:

 

		1.	Amendment of Section 2.1.39. Section 2.1.39 of the Registration Rights Agreement is hereby
amended by deleting Section 2.1.39 in its entirety and substituting in lieu thereof the following:

 

“2.1.39 “Warrant Registrable Securities”
shall mean (i) shares of Common Stock issued or issuable pursuant to the exercise of warrants granted to pursuant to the Venture
Loan and Security Agreement, dated as of September 30, 2014, among the Company, entities affiliated with Horizon Technology Finance
Corporation (“Horizon”) and entities affiliated with Fortress Credit Co LLC (“Fortress”),
(ii) shares of Common Stock issued or issuable pursuant to the exercise of warrants granted to pursuant to the Payoff Letter, dated
as of March [__], 2017, among the Company, Horizon and Fortress and (iii) any shares of Common Stock issued or issuable in respect
of such shares upon any stock split, stock dividend, recapitalization, reorganization, merger, consolidation, sale of assets or
similar event.”

 

     

     

    

 

		2.	Holders. The parties hereto acknowledge and agree that each of the Lenders, to the extent
not already a party to the Registration Rights Agreement, shall execute a counterpart signature page to the Registration Rights
Agreement, in the form attached hereto as Schedule 1; that by execution thereof each such Lender shall become party to the
Registration Rights Agreement as a Holder; and that upon such execution Exhibit A of the Registration Rights Agreement shall
be amended to add each Lender to such Exhibit A.

 

		3.	Effectiveness of Amendment. Except as expressly amended hereby, all terms, conditions and
provisions of the Registration Rights Agreement shall remain in full force and effect in accordance with the Registration Rights
Agreement.

 

		4.	Counterparts. This Amendment may be executed in one or more counterparts, each of which
shall for all purposes be deemed to be an original and all of which shall constitute the same instrument.

 

[Remainder of Page Intentionally Left Blank]

 

 

 

 

 

 

     

     

    

 

IN WITNESS WHEREOF, the parties have executed
this Amendment as of the date first written above.

 

	
        COMPANY:

         

        Argos Therapeutics, Inc.

         

        By: /s/ Jeffrey D. Abbey

        Name: Jeffrey D. Abbey

        Title: Chief Executive Officer
	
        

         

 

 

 

 

 

 

     

     

    

 

Schedule 1

 

 

Counterpart Signature Page to Registration Rights Agreement

 

 

By its execution and delivery of this counterpart signature page,
the undersigned hereby agrees to bound by the terms and conditions of the Fifth Amended and Restated Registration Rights Agreement
(the “Agreement”), dated as of August 9, 2013, by and among Argos Therapeutics, Inc., a Delaware corporation
(the “Company”), and the Holders (as defined in the Agreement), as amended from time to time, as a “Holder”
thereunder, and authorizes this signature page to be attached to the Agreement.

 

Executed as of the date set forth below.

 

	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	By:	 	 
	 	 	By:	 	 
	 	 	 	Name:	 
	 	 	 	Title:	 
	 	 	Date:	 	 
	 	 	Contact Person:	 	 
	 	 	Telephone No.:	 	 
	 	 	Telecopy No.:	 	 
	 	 	Email Address:  	 	 
	 	 	Address:Exhibit 10.28

 

Confidential Materials omitted and filed separately with the

Securities and Exchange Commission. Double asterisks denote omissions.

 

SECOND AMENDMENT 

 

THIS SECOND AMENDMENT TO DEVELOPMENT AGREEMENT (the “Second
Amendment”) is entered into by and between SAINT-GOBAIN PERFORMANCE PLASTICS CORPORATION, a California corporation
having an office at 31500 Solon Road, Solon, OH 44139 (“SGPPL”), and ARGOS THERAPEUTICS, INC., a Delaware corporation
having an office at 4233 Technology Drive, Durham, NC 27704 (“Argos”). SGPPL and Argos are hereafter referred to collectively
as the “Parties,” “Other Party,” or individually as a “Party”, as applicable.

 

WHEREAS:

 

A.          
SGPPL and Argos entered into that certain Development Agreement, dated as of January 5, 2015 (the “Development Agreement”).

B.          
SGPPL and Argos entered into that certain Development Agreement, with an effective date of dated as of December 31, 2015
(the “First Amendment Agreement”).

C.          
SGPPL and Argos desire to amend the Development Agreement and the First Amendment upon all of the terms and conditions set
forth herein.

 

 

AGREEMENT:

 

NOW, THEREFORE, in consideration of the foregoing and other good
and valuable consideration, SGPPL and Argos hereby amend the Development Agreement as follows:

 

1.           
Amendment of Section 9.1. Section 9.1 of the Development Agreement is hereby deleted in its entirety and replaced with the
following language:

 

9.1 Term. This Agreement will commence on the
Effective Date and will remain in force until December 31, 2017 unless prior to such date the term of this Agreement is (a) mutually
extended or terminated by written agreement of the Parties or (b) terminated pursuant to the provisions of Section 9.3 (the “Term”).
Notwithstanding the foregoing sentence, this Agreement will automatically terminate on March 1, 2017, unless the Parties (y) have
entered into the Supply Agreement by such date or (z) mutually agree in writing to waive such automatic termination.

 

2.           
Ratification; Miscellaneous. The Development Agreement, as amended by this First Amendment, shall remain in full force and
effect. , All of the terms, conditions and provisions of the Development Agreement are hereby ratified and affirmed in all respects.
This First Amendment shall control to the extent any terms, conditions and obligations contained in this First Amendment conflict
with the terms in the Development Agreement. This First Amendment may be executed in multiple counterparts, all of which taken
together shall constitute one and the same instrument.

 

    	 	1	 

     

    

3.           
Amendment of Section 3.5 (f). Section 3.5 (f) of the Development Agreement is hereby deleted in its entirety and
replaced with the following language:

 

(f) The deferred tooling amounts as of the effective date of this Agreement are
$[**]. The repayment structure will be as follows:

 

		1.	Argos will pay an SGPPL $[**] on or before March 1, 2017.

		2.	Argos will pay SGPPL $[**] on or before June 1, 2017.

		3.	In consideration for deferring the tooling amounts above, Argos will pay SGPPL a tooling stocking fee of $[**] to be paid no
less than [**] after receipt of invoice and in no case later than December 20, 2016.

		4.	In the event both Parties agree to further defer items 3.1 and or 3.2, a [**]% interest rate will apply.

 

(g) For engineering and validation services rendered to date, Argos
will pay SGPPL $[**] to be paid [**] days after receipt of invoice and in no case later than March 1, 2017.

 

(h) Argos will purchase $[**] of product from SGPPL in 2017
in form of take or pay.

 

4.        Amendment of Section
5.2 (D) (i) and (ii). Section 5.2 (D) (i) and (ii) of the Development Agreement is hereby amended with the following (i) [**]
percent for Products and (ii) [**] percent for specified components which are acquired but nor manufactured by SGPPL. All other
language in section 5.2 remains.

 

IN WITNESS WHEREOF, the undersigned have duly executed this First
Amendment effective as of December 1, 2016.

 

SAINT-GOBAIN PERFORMANCE PLASTICS CORPORATION

 

 

By: /s/ Stephen Maddox                  

 

Name: Stephen Maddox                   

 

Title: GM Life Sciences

 

Date: 12/23/2016

 

 

 

 

 

 

 

 

 

    	 	2	 

     

    

ARGOS THERAPEUTICS, INC.

 

 

 

By: /s/ Jeff
Abbey                          

 

Name: Jeff Abbey                           

 

Title: President and CEO               

 

Date: December 27, 2016               

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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