Document:

segn_ex102.htm

EXHIBIT 10.2
  
CERTIFICATE OF DESIGNATION OF PREFERENCES, 
RIGHTS AND LIMITATIONS
OF
AMENDED SERIES C PREFERRED STOCK
OF
SUCCESS ENTERTAINMENT GROUP INTERNATIONAL, INC.
 
The undersigned, the President of Success Entertainment Group International, Inc. (the “Corporation”), a Nevada corporation, does hereby certify that, pursuant to authority conferred upon the Board of Directors (the “Board”) by the Corporation’s Articles of Incorporation and pursuant to Section NRS 78.1955 of the Nevada General Corporation Law, the following resolutions creating a series of Series A Preferred Stock was duly adopted by the Board on August 3, 2020:
 
WHEREAS, the Articles of Incorporation of the Corporation provides for a class of its authorized stock known as preferred stock, comprised of Eleven Million Four Hundred Forty Two Thousand Eight Hundred and Fifty-Seven (11,442,857) shares, par value $0.00001 per share, issuable from time to time in one or more series;
 
WHEREAS, the Board is authorized to fix the rights, terms and preferences and the number of shares constituting any series and the designation thereof; and
 
WHEREAS, it is the desire of the Board, pursuant to its authority as aforesaid, to fix the rights, preferences, restrictions and other matters relating to a series of the preferred stock, which shall consist of up to 11,442,857 shares of the preferred stock which the Corporation has the authority to issue, as follows:
 
NOW, THEREFORE, BE IT RESOLVED, that the Board does hereby provide for the issuance of Series C Preferred stock and does hereby fix and determine the rights, preferences, restrictions and other matters relating to such Series C Preferred stock as follows:
 
Section 1. Designation and Amount. The preferred stock subject hereof shall be designated Series C Preferred Stock (“Series C Preferred Stock”) and the number of shares constituting Series C Preferred Stock shall be 11,442,857 shares. No other shares of preferred stock shall be designated as Series C Preferred Stock. 
 
Section 2. Dividends.
 
a) Participating Dividends on As-Converted Basis. Holders of Series C Preferred Stock (“Holders”) shall be entitled to any dividends or other distributions paid by the Corporation on the Common Stock (other than dividends paid in Common Stock). 
 
Section 3. Liquidation Preference. Upon the occurrence of a voluntary or involuntary liquidation, dissolution or winding up of the Corporation, each holder of Series C Preferred Stock shall be entitled to receive, on a pari passu basis with the holders of the Series A and Series B Preferred Stock, the amount such holder of Preferred C shares owned times Seven and No/100 Cents ($.07) a share together with accrued and unpaid dividends thereon, been converted into common stock immediately prior to such liquidation, dissolution or winding up of the Corporation.
   
	 
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Section 4. Voting. Except as otherwise provided herein or by law, Holders of Series C Preferred Stock shall not be entitled to any voting rights. 
 
Section 5. Protective Provisions. The Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or the Certificate of Incorporation) the written consent or affirmative vote of holders of a majority of the then outstanding shares of Series C Preferred Stock and Series A Preferred Stock, given in writing or by vote at a meeting, consenting or voting (as the case may be) together as a separate class: (i) amend, alter or repeal (A) any of the powers, designations, rights or preferences of the Series C Preferred Stock or (B) any other provision of the Certificate of Incorporation or Bylaws of the Corporation, in the case of clause (B) only in a manner adverse to the Series C Preferred Stock; and (ii) authorize or issue any additional shares of Series C Preferred Stock.
 
Section 6. Conversion.
 
a) Conversions at Option of Holder. Each share of Series C Preferred Stock shall be convertible, at any time and from time to time from and after the original issue date at the option of the Holder of any Series C Preferred Stock, into that number of shares of Common Stock (“Conversion Shares”) determined as follows:
     
	  
	 Conversion Shares =
	  
	 (Number of Issued Series C Preferred)
	  

	  
	  
	  
	 $.07 in Common Stock
	  

    
b) Additional Definitions. For the purposes hereof, the following terms shall bear the definitions set forth below:
 
Original Issue Date - The date of the first issue of any shares of this Series C Preferred Stock.
 
Conversion Issuance Date - The date on which the shares of Common Stock to be issued on account of the conversion made on the Conversion Date are actually issued, if the adjustment effected by the relevant Capital Event would not otherwise be applied to the Conversion Shares.
 
Number of Issued Series C Preferred – The sum of (i) 11,442,857, representing the number of shares of Series C Preferred Stock originally issued on or about the date of filing of this Certificate of Designation, and (ii) the number of additional shares of Series C Preferred Stock, if any, issued at any time thereafter through and including the Conversion Date.
 
Capital Event - Each of the following (each howsoever denominated) which has been declared or announced but, as of the Conversion Date, either has not yet been effected or would not otherwise be applied to the Conversion Shares: (w) stock split; (x) reverse stock split; (y) declared stock dividend; or (y) reclassification of shares resulting in the issuance of shares.
  
	 
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c) Conversion Procedures. Holders shall effect conversions by providing the Corporation with the form of conversion notice attached hereto as Annex A (a “Notice of Conversion”). Each Notice of Conversion shall specify the number of shares of Series C Preferred Stock to be converted, the number of shares of Series C Preferred Stock owned prior to the conversion at issue, the number of shares of Series C Preferred Stock owned subsequent to the conversion at issue and the date on which such conversion is to be effected, which date may not be prior to the date the applicable Holder delivers by facsimile such Notice of Conversion to the Corporation (such date, the “Conversion Date”). If no Conversion Date is specified in a Notice of Conversion, the Conversion Date shall be the date that such Notice of Conversion to the Corporation is deemed delivered hereunder. The calculations and entries set forth in the Notice of Conversion shall control in the absence of manifest or mathematical error. To effect conversions of shares of Series C Preferred Stock, a Holder shall not be required to surrender the certificate(s) representing the shares of Series C Preferred Stock to the Corporation, (although the Holder may surrender the Series C Preferred Stock certificate to, and receive a replacement certificate from the Corporation, at Holder’s election) unless all of the shares of Series C Preferred Stock represented thereby are so converted, in which case such Holder shall deliver the certificate representing such shares of Series C Preferred Stock promptly following the Conversion Date at issue. Shares of Series C Preferred Stock converted into Common Stock in accordance with the terms hereof shall be canceled and shall not be reissued.
 
d) Delivery of Certificate Upon Conversion. Not later than five (5) Trading Days after each Conversion Date (the “Share Delivery Date”), the Corporation shall deliver, or cause to be delivered, to the converting Holder a certificate or certificates representing the Conversion Shares. “Trading Day” means a day on which the principal Trading Market is open for trading. “Trading Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE MKT, the NASDAQ Capital Market, the NASDAQ Global Market, the NASDAQ Global Select Market, the New York Stock Exchange, the OTC Pink Marketplace, the OTC Bulletin Board, the OTCQB, or the OTCQX (or any successors to any of the foregoing).
  
	 
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e) Reservation of Shares Issuable Upon Conversion. The Corporation covenants that it will at all times reserve and keep available out of its authorized and unissued shares of Common Stock for the sole purpose of issuance upon conversion of the Series C Preferred Stock and payment of dividends on the Series C Preferred Stock, each as herein provided, free from preemptive rights or any other actual contingent purchase rights of persons other than the Holder (and the other holders of the Series C Preferred Stock), not less than such aggregate number of shares of the Common Stock as shall (subject to the terms and conditions set forth in the Purchase Agreement) be issuable upon the conversion of the then outstanding shares of Preferred Stock and payment of dividends hereunder. The Corporation covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized, validly issued, fully paid and nonassessable.
 
f) Fractional Shares. No fractional shares or scrip representing fractional shares shall be issued upon the conversion of the Series C Preferred Stock. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such conversion, the Corporation shall round down to the next whole share.
 
g) Transfer Taxes and Expenses. The issuance of certificates for shares of the Common Stock on conversion of this Series C Preferred Stock shall be made without charge to any Holder for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such certificates, provided that the Corporation shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance and delivery of any such certificate upon conversion in a name other than that of the Holders of such shares of Series C Preferred Stock and the Corporation shall not be required to issue or deliver such certificates unless or until the Person or Persons requesting the issuance thereof shall have paid to the Corporation the amount of such tax or shall have established to the satisfaction of the Corporation that such tax has been paid. The Corporation shall pay all Transfer Agent fees required for same-day processing of any Notice of Conversion.
 
h) Legend. Each Conversion Share will be imprinted with the following legend:
 
“NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS CONVERTIBLE HAS BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE CORPORATION. THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.”
    
	 
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i) Holder’s Conversion Limitations. The Corporation shall not effect any conversion of Series C Preferred Stock, and a Holder shall not have the right to convert any Series C Preferred Stock, to the extent that after giving effect to the conversion set forth on the applicable Notice of Conversion, the Holder (together with the Holder’s Affiliates (as defined in the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any persons acting as a group together with the Holder or any of the Holder’s Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable upon conversion of the shares of Series C Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted shares of Series C Preferred Stock beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of the Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates. Except as set forth in the preceding sentence, for purposes of this Section 6(i), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder. To the extent that the limitation contained in this Section 6(i) applies, the determination of whether and to the extent shares of Series C Preferred Stock are convertible (in relation to other securities owned by the Holder together with any Affiliates) shall be in the sole discretion of the Holder, and the submission of a Notice of Conversion shall be deemed to be the Holder’s determination of whether and to the extent the shares subject to the Notice of Conversion may be converted (in relation to other securities owned by the Holder together with any Affiliates), all subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, the Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 6(i), in determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as stated in the most recent of the following: (i) the Corporation’s most recent periodic or annual report filed with the US Securities and Exchange Commission, as the case may be, (ii) a more recent public announcement by the Corporation, or (iii) a more recent written notice by the Corporation or the Corporation’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Corporation shall within two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Corporation by the Holder or its Affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion Series C Preferred Stock held by the Holder. The Holder upon not less than 61 days’ prior notice to the Corporation, may increase the Beneficial Ownership Limitation provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon conversion of Series C Preferred Stock held by the Holder and the Beneficial Ownership Limitation provisions of this Section 6(i) shall continue to apply. Any such increase will not be effective until the 61st day after such notice is delivered to the Corporation. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 6(i) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to all Holders.
    
	 
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Section 7. Adjustments. All references herein to the number of shares of Series C Preferred Stock issued by the Corporation shall be equitably adjusted to reflect any and all forward or reverse splits of the Series C Preferred Stock and reclassifications having a similar effect on the Series C Preferred Stock generally. 
 
Section 8. Miscellaneous. 
 
	  
	 b) 
	Notices. Notices. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without limitation, any Notice of Conversion, shall be in writing and delivered personally, by facsimile, or sent by a nationally recognized overnight courier service, addressed to the Corporation, at: 601 South Boulder Ave. Suite 600 Tulsa, OK 74119, or such other facsimile number or address as the Corporation may specify for such purposes by notice to the Holders delivered in accordance with this Section 8. Any and all notices or other communications or deliveries to be provided by the Corporation hereunder shall be in writing and delivered personally, by facsimile, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number or address of such Holder appearing on the books of the Corporation, or if no such facsimile number or address appears on the books of the Corporation, at the principal place of business of such Holder, as set forth in the Purchase Agreement. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth in this Section on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice is required to be given.

      
	 
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	 c) 
	Lost or Mutilated Preferred Stock Certificate. If a Holder’s Series C Preferred Stock certificate shall be mutilated, lost, stolen or destroyed, the Corporation shall execute and deliver, in exchange and substitution for and upon cancellation of a mutilated certificate, or in lieu of or in substitution for a lost, stolen or destroyed certificate, a new certificate for the shares of Series C Preferred Stock so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or destruction of such certificate, and of the ownership hereof reasonably satisfactory to the Corporation.
	  
	  
	  

	  
	 d) 
	Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Certificate of Designation shall be governed by and construed and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles of conflict of laws thereof. Each Holder and the Corporation agree that all legal proceedings concerning the interpretation and enforcement of this Certificate of Designation (whether brought against a Holder or the Corporation or their respective Affiliates, directors, officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City of New York, Borough of Manhattan (the “New York Courts”). Each Holder and the Corporation hereby irrevocably submit to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith, and hereby irrevocably waive, and agree not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such New York Courts, or such New York Courts are improper or inconvenient venue for such proceeding. Each Holder and the Corporation hereby irrevocably waive personal service of process and consent to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Certificate of Designation and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable law. Each Holder and the Corporation hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Certificate of Designation. If any Holder or the Corporation shall commence an action or proceeding to enforce any provisions of this Certificate of Designation, then the prevailing party in such action or proceeding shall be reimbursed by the other party or parties for its attorneys’ fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

     
	 
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	 e) 
	Waiver. Any of the rights, powers, preferences and other terms of the Series C Preferred Stock set forth herein may be waived on behalf of all Holders by the affirmative written consent or vote of the holders of at least a majority of the then outstanding shares of Series C Preferred Stock. Any waiver by the Corporation or a Holder of a breach of any provision of this Certificate of Designation shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Certificate of Designation or, except as noted in the prior sentence, a waiver by any other Holders. The failure of the Corporation or a Holder to insist upon strict adherence to any term of this Certificate of Designation on one or more occasions shall not be considered a waiver or deprive that party (or, except as noted in the first sentence of this paragraph, any other Holder) of the right thereafter to insist upon strict adherence to that term or any other term of this Certificate of Designation on any other occasion. Any waiver by the Corporation or a Holder must be in writing.
	  
	  
	  

	  
	 f) 
	Severability. If any provision of this Certificate of Designation is invalid, illegal or unenforceable, the balance of this Certificate of Designation shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances. If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest permitted under applicable law. 
	  
	  
	  

	  
	 g) 
	Next Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a business day, such payment shall be made on the next succeeding business day.
	  
	  
	  

	  
	 h) 
	Headings. The headings contained herein are for convenience only, do not constitute a part of this Certificate of Designation and shall not be deemed to limit or affect any of the provisions hereof.
	  
	  
	  

	  
	 i) 
	Status of Converted Series C Preferred Stock. If any shares of Series C Preferred Stock shall be converted, or shall otherwise be reacquired by the Corporation, such shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated as Series C Preferred Stock.

  
RESOLVED, FURTHER, that the Chairman, the president or any vice-president, and the secretary or any assistant secretary, of the Corporation be and they hereby are authorized and directed to prepare and file this Certificate of Designation of Preferences, Rights and Limitations in accordance with the foregoing resolution and the provisions of Nevada law.
 
[Signature Page Follows]
	 
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IN WITNESS WHEREOF, the undersigned has executed this Certificate this 3rd day of August, 2020.
   
				
	  
	 Name: 
	William Robinson 	 
	 	Title: 	President	 
	 	 	 	 

    
SIGNATURE PAGE TO CERTIFICATE OF DESIGNATION OF PREFERENCES, RIGHTS AND
LIMITATIONS OF SERIES C PREFERRED STOCK
    
	 
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ANNEX A
 
NOTICE OF CONVERSION
 
(To be Executed by the Registered Holder in order to Convert Shares of SERIES C Preferred Stock)
 
The undersigned hereby elects to convert the number of shares of Series C Preferred Stock indicated below into shares of common stock, par value $0.00001 per share (the “Common Stock”), of Success Entertainment Group International, Inc., a Nevada corporation (the “Corporation”), according to the conditions hereof, as of the date written below. If shares of Common Stock are to be issued in the name of a Person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto and is delivering herewith such certificates and opinions as may be required by the Corporation. No fee will be charged to the Holders for any conversion, except for any such transfer taxes.
 
Conversion calculations:
 
	  
	 Date to Effect Conversion: ______________________________________________

	  
	  

	  
	 Number of shares of Series C Preferred Stock owned prior to Conversion: _________

	  
	  

	  
	 Number of shares of Series C Preferred Stock to be Converted: __________________

	  
	  

	  
	 Common Stock Outstanding determined pursuant to Section 6(a): ________________

	  
	  

	  
	 Number of shares of Common Stock to be Issued: ____________________________

	  
	  

	  
	 Number of shares of Series C Preferred Stock subsequent to Conversion: __________

	  
	  

	  
	 Address for Delivery: ______________________
or
DWAC Instructions:
Broker no: _________
Account no: ___________

        
	 	[HOLDER]	
		 	 	 
		By:		
	  
		 Name:
	 
	 		Title:	 

     
	 
	10Exhibit 10.1

 

CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE LINEAGE CELL THERAPEUTICS, INC.
HAS DETERMINED THE INFORMATION: (A) IS NOT MATERIAL AND (B) WOULD LIKELY CAUSE COMPETITIVE HARM TO LINEAGE CELL THERAPEUTICS,
INC. IF PUBLICLY DISCLOSED.

 

SECOND
AMENDMENT TO CLINICAL TRIAL AND OPTION AGREEMENT

 

THIS
SECOND AMENDMENT (this “Amendment”) is made the 6th day of May, 2020 (“Amendment Effective
Date”)

 

BETWEEN:

 

CANCER
RESEARCH UK a company limited by guarantee registered under number 4325234 and a charity registered under number 1089464 of
2 Redman Place, Stratford, London, E20 1JQ, England (the “Charity”);

 

CANCER
RESEARCH TECHNOLOGY LIMITED a company registered in England and Wales with number 1626049 and registered office at 2 Redman
Place, Stratford, London, E20 1JQ, England (“CRT”);

 

ASTERIAS
BIOTHERAPEUTICS, INC., a Delaware corporation and subsidiary of Lineage Cell Therapeutics, Inc., a California corporation,
with its principal place of business at 2173 Salk Avenue, Suite 200, Carlsbad, CA 92008, USA (“Asterias”);
and

 

LINEAGE
CELL THERAPEUTICS, INC., a California corporation with its principal place of business at 2173 Salk Avenue, Suite 200, Carlsbad,
CA 92008, USA (“Lineage Cell” and the “Company,” and, together with Asterias, the Charity
and CRT, the “Parties”).

 

WHEREAS:

 

	 	(A)	The
    Parties entered into that certain Clinical Trial and Option Agreement dated September 8, 2014, as amended by an amendment
    agreement made between the Charity, CRT and Asterias dated September 8, 2014 (the “Agreement”)..
	 	 	 
	 	(B)	The
    Parties desire to amend the Agreement to provide for the Company’s early exercise of the Option (as defined in the Agreement)
    and the Charity’s continued conduct of the Clinical Trial. 

 

NOW
IT IS HEREBY AGREED as follows:

 

	1.	DEFINITIONS
    AND INTERPRETATION

 

	1.1	In
    this Amendment, capitalized terms used but not defined shall have the meaning attributed to them in the Agreement.  
	 	 
	1.2	In
    this Amendment:

 

	 	1.2.1	unless
    the context requires otherwise, all references to a particular Clause, paragraph or Schedule shall be references to that clause,
    paragraph or schedule, of or to this Amendment;
	 	 	 
	 	1.2.2	unless
    the contrary intention appears, words importing the masculine gender shall include the feminine and vice versa and words in
    the singular include the plural and vice versa;
	 	 	 
	 	1.2.3	unless
    the contrary intention appears, words denoting persons shall include any individual, partnership, company, corporation, joint
    venture, trust, association, organisation or other entity, in each case whether or not having separate legal personality;

 

    	 	 	 

     

    

 

	 	1.2.4	reference
    to any statute or regulation includes any modification or re-enactment of that statute or regulation, provided that the modification
    or re-enactment does not diminish the rights or extend the obligations of any Party; and
	 	 	 
	 	1.2.5	references
    to the words “include” or “including” shall be construed without limitation to the generality of the
    preceding words.

 

	2.	AMENDMENTS

 

	2.1	Clause
    1.1 of the Agreement is hereby revised to delete in its entirety the definition of “Signature Period.”
	 	 
	2.2	The
    following two clauses are hereby added to the Agreement as Clauses 3.14 and 3.15 respectively:

 

	 	3.14	Promptly following the Amendment Effective Date, the
Charity and the Company acting reasonably and in good faith shall agree a plan (“3.14 Plan”) under which the
Charity shall provide to the Company: 

 

	 	3.14.1	all
    manufacturing Know-How, information, and regulatory information in the Charity’s Control that is related to the Product
    Manufacturing Process, including batch records (collectively, the “Product Manufacturing Process Information”);
	 	 	 
	 	3.14.2	reasonable
    access to personnel responsible for the conduct and control of the Clinical Trial and the generation and implementation of
    the Product Manufacturing Process Information;

 

	 	3.14.3 	all Clinical Trial Results existing as of the Amendment
Effective Date; 

 

	 	3.14.4	copies
    of all material regulatory filings (including clinical trial authorisations) and correspondence with any Regulatory Authority
    regarding the Product; and
	 	 	 
	 	3.14.5	the
    3.14 Plan shall include a methodology for the periodic identification and provision to the Company of all data and information
    that are generated as a result of the Charity continuing to conduct the Clinical Trial under the Agreement and Controlled
    by the Charity.
	 	 	 
	 	3.14.6	The
    3.14 Plan shall be reviewed and amended as the Parties acting reasonably may from time to time agree so as to facilitate the
    implementation of this clause 3.14. The Charity shall at all times during the Clinical Trial use its Commercially Reasonable
    Efforts to faithfully adhere to the 3.14 Plan.
	 	 	 
	 	3.14.7	The
    Company acknowledges and agrees that save in respect of Data Listings, the Final Report, and data arising from the Clinical
    Trial that are provided by the Charity to the Company after the Clinical Trial Database Lock Date, the Clinical Trial Results
    that are provided to the Company under the 3.14 Plan will not be cleaned or validated and therefore should not be relied upon
    and the Company uses those Clinical Trial Results at its own risk. 

 

    	 	 	 

     

    

  

	 	3.15	The
    Company hereby elects pursuant to clause 3.11 of the Agreement to receive a Full Clinical Study Report instead of a Report
    Synopsis. For the avoidance of doubt, the Charity will provide a Full Clinical Study Report within [***] after the Clinical
    Trial Database Lock Date and the Company’s payment of the Option Fee pursuant to clause 4.1.2 of that certain License
    Agreement entered into by CRT and the Company on even date herewith shall be credited against the Full CS Report Fee.

 

	2.3	Clauses
    7.4 and 7.5 of the Agreement are hereby deleted in their entirety and replaced with the following:

 

	 	7.4.	Effective on the Amendment Effective Date: (i) the Company
hereby submits its Exercise Notice to CRT to exercise the Option to enter into the License; and (ii) the Parties agree to execute
and enter into the License on the Amendment Effective Date (the “License Agreement”).

 

	2.4	Clause
    11.1 of the Agreement is hereby deleted in its entirety and replaced with the following:

 

	 	11.1	Unless terminated earlier pursuant to the provisions
hereunder, and except as otherwise provided hereunder, this Agreement shall remain in full force and effect from the Commencement
Date until the date that the Company receives the Final Report or, if later, the Full Clinical Study Report.

 

	2.5	The
    following is hereby added to the end of Clause 11.5:

 

	 	11.5	Upon either Party’s reasonable request, and without
affecting the Charity’s rights and powers under this Agreement the Parties shall discuss in good faith the merits of continuing
versus winding down the Clinical Trial, taking into consideration, without limitation, the results of the trial data generated
to date, trial recruitment, and resource allocation.

 

	2.6	The
    address of the Company in Clause 16.1 is hereby deleted in its entirety and replaced with the following:

 

Lineage
Cell Therapeutics, Inc.

2173
Salk Avenue, Suite 200

Carlsbad,
CA 92008

Contact:
Legal

Email:
legal@lineagecell.com

 

	3.	assignment

 

	3.1	For
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Asterias hereby assigns to Lineage
Cell, and Lineage Cell hereby accepts and assumes, all of Asterias’ rights and obligations under the Agreement, including
all rights, claims, and causes of action of Asterias under the Agreement existing as of the Amendment Effective Date.  All
such assigned rights shall inure to the benefit of and be enforceable by Lineage Cell, and all such obligations shall be binding
on and be enforceable against Lineage Cell by the Charity and CRT, in each case in accordance with the terms of the Agreement.  All
references in the Agreement to “the Company” shall, as of the Amendment Effective Date, be references to Lineage Cell.  

 

	3.2	CRT
and the Charity hereby agree and consent to the assignment and transfer set forth in clause 3.1.

 

    	 	 	 

     

    

 

	4.	ENTIRE
    AGREEMENT

 

	4.1	Except
    as expressly modified herein, all terms and conditions set forth in the Agreement, as in effect on the Amendment Effective
    Date, shall remain in full force and effect.  The Agreement as modified by this Amendment, together with the License
    Agreement, embodies and sets forth the entire agreement and understanding of the Parties and supersedes all prior oral or
    written agreements, understandings or arrangements relating to the subject matter of this Amendment. No party has relied on
    any statement in deciding to enter into this Amendment that is not expressly set out in this Amendment. 

 

	5.	SEVERABILITY

 

	5.1	If
    and to the extent that any court or tribunal of competent jurisdiction holds any of the terms, provisions or conditions or
    parts thereof of this Amendment, or the application hereof to any circumstances, to be invalid or to be unenforceable in a
    final non-appealable order, the remainder of this Amendment and the application of such term, provision or condition or part
    thereof to circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby, and
    each of the other terms, provisions and conditions of this Amendment shall be valid and enforceable to the fullest extent
    permissible by law.

 

	6.	EXECUTION

 

	6.1	This
    Amendment may be executed in any one or more number of counterpart agreements, and as scanned email attachments, and all signatures
    and counterparts so exchanged shall be considered as original and shall be deemed to form part of and together constitute
    this Agreement.

 

	7.	GOVERNING
    LAW AND JURISDICTION

 

	7.1	This
    Amendment is governed by and construed in accordance with English Law and each Party hereby agrees to submit to the exclusive
    jurisdiction of the English Courts in respect of any claim or dispute arising out of this Amendment or its subject matter.

 

    	 	 	 

     

    

 

IN
WITNESS whereof this Agreement has been executed by duly authorised officers of the Parties on the day first above written.

 

	Signed
    by: 	/s/
    Tony Hickson	 
	Name:	Tony
    Hickson	 
	Title:	Chief
    Business Officer	 
	 	 	 
	 	For
    and on behalf of 	 
	 	CANCER
    RESEARCH TECHNOLOGY LIMITED	 

 

	Signed
    by:	/s/
    Dr Nigel A Blackburn	 
	Name:	Dr
    Nigel A Blackburn	 
	Title:	Director
    of Drug Development	 
	 	 	 
	 	For
    and on behalf of 	 
	 	CANCER
    RESEARCH UK	 

 

	Signed
    by:	/s/
    Brandi Roberts	 
	Name:	Brandi
    Roberts	 
	Title:	Chief
    Financial Officer	 
	 	 	 
	 	For
    and on behalf of	 
	 	ASTERIAS
    BIOTHERAPEUTICS, INC. 	 

 

	Signed
    by:	/s/
    Brian M. Culley	 
	Name:	Brian
    M. Culley	 
	Title:	Chief
    Executive Officer	 
	 	 	 
	 	For
    and on behalf of	 
	 	LINEAGE
    CELL THERAPEUTICS, INC.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}]]