Document:

Exhibit 10.11

 

HOOKIPA PHARMA INC.

 

[FORM OF] OFFICER INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement (“Agreement”) is made as of [                ] by and between Hookipa Pharma Inc., a Delaware corporation (the “Company”), and [Officer] (“Indemnitee”).(1)

 

RECITALS

 

WHEREAS, the Company desires to attract and retain the services of highly qualified individuals, such as Indemnitee, to serve the Company;

 

WHEREAS, in order to induce Indemnitee to provide or continue to provide services to the Company, the Company wishes to provide for the indemnification of, and advancement of expenses to, Indemnitee to the maximum extent permitted by law;

 

WHEREAS, the Amended and Restated Certificate of Incorporation (as amended and in effect from time to time, the “Charter”) and the Amended and Restated Bylaws (as amended and in effect from time to time, the “Bylaws”) of the Company require indemnification of the officers and directors of the Company, and Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (the “DGCL”);

 

WHEREAS, the Charter, the Bylaws and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification;

 

WHEREAS, the Board of Directors of the Company (the “Board”) has determined that the increased difficulty in attracting and retaining highly qualified persons such as Indemnitee is detrimental to the best interests of the Company’s stockholders;

 

WHEREAS, it is reasonable and prudent for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law, regardless of any amendment or revocation of the Charter or the Bylaws, so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; and

 

WHEREAS, this Agreement is a supplement to and in furtherance of the indemnification provided in the Charter, the Bylaws and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

(1)  To be entered into with all C-level officers and Section 16 officers.

 

 

Section 1.                                           Services to the Company.  Indemnitee agrees to [continue to] serve as [a director and] an officer of the Company.  Indemnitee may at any time and for any reason resign from [any] such position (subject to any other contractual obligation or any obligation imposed by law), in which event the Company shall have no obligation under this Agreement to continue Indemnitee in such position.  This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee.

 

Section 2.                                           Definitions.

 

As used in this Agreement:

 

(a)                                 “Change in Control” shall mean (i) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity, (ii) a merger, reorganization or consolidation pursuant to which the holders of the Company’s outstanding voting power and outstanding stock immediately prior to such transaction do not own a majority of the outstanding voting power and outstanding stock or other equity interests of the resulting or successor entity (or its ultimate parent, if applicable) immediately upon completion of such transaction, (iii) the sale of all of the Stock of the Company to an unrelated person, entity or group thereof acting in concert, or (iv) any other transaction in which the owners of the Company’s outstanding voting power immediately prior to such transaction do not own at least a majority of the outstanding voting power of the Company or any successor entity immediately upon completion of the transaction other than as a result of the acquisition of securities directly from the Company.

 

(b)                                 “Corporate Status” describes the status of a person as a current or former [director or] officer of the Company or current or former director, manager, partner, officer, employee, agent or trustee of any other Enterprise which such person is or was serving at the request of the Company.

 

(c)                                  “Enforcement Expenses” shall include all reasonable attorneys’ fees, court costs, transcript costs, fees of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other out-of-pocket disbursements or expenses of the types customarily incurred in connection with an action to enforce indemnification or advancement rights, or an appeal from such action.  Expenses, however, shall not include fees, salaries, wages or benefits owed to Indemnitee.

 

(d)                                 “Enterprise” shall mean any corporation (other than the Company), partnership, joint venture, trust, employee benefit plan, limited liability company, or other legal entity of which Indemnitee is or was serving at the request of the Company as a director, manager, partner, officer, employee, agent or trustee.

 

(e)                                  “Expenses” shall include all reasonable attorneys’ fees, court costs, transcript costs, fees of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other out-of-pocket disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise

 

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participating in, a Proceeding or an appeal resulting from a Proceeding.  Expenses, however, shall not include amounts paid in settlement by Indemnitee, the amount of judgments or fines against Indemnitee or fees, salaries, wages or benefits owed to Indemnitee.

 

(f)                                   “Independent Counsel” means a law firm, or a partner (or, if applicable, member or shareholder) of such a law firm, that is experienced in matters of Delaware corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company, any subsidiary of the Company, any Enterprise or Indemnitee in any matter material to any such party; or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder.  Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.  The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

 

(g)                                  The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative, regulatory or investigative nature, and whether formal or informal, in which Indemnitee was, is or will be involved as a party or otherwise by reason of the fact that Indemnitee is or was [a director or] an officer of the Company or is or was serving at the request of the Company as a director, manager, partner, officer, employee, agent or trustee of any Enterprise or by reason of any action taken by Indemnitee or of any action taken on his or her part while acting as [a director or] an officer of the Company or while serving at the request of the Company as a director, manager, partner, officer, employee, agent or trustee of any Enterprise, in each case whether or not serving in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement or advancement of expenses can be provided under this Agreement; provided, however, that the term “Proceeding” shall not include any action, suit or arbitration, or part thereof, initiated by Indemnitee to enforce Indemnitee’s rights under this Agreement as provided for in Section 12(a) of this Agreement.

 

Section 3.                                           Indemnity in Third-Party Proceedings.  The Company shall indemnify Indemnitee to the extent set forth in this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor.  Pursuant to this Section 3, Indemnitee shall be indemnified against all Expenses, judgments, fines, penalties, excise taxes, and amounts paid in settlement actually and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal proceeding, had no reasonable cause to believe that his or her conduct was unlawful.

 

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Section 4.                                           Indemnity in Proceedings by or in the Right of the Company.  The Company shall indemnify Indemnitee to the extent set forth in this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor.  Pursuant to this Section 4, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company.  No indemnification for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that the Delaware Court of Chancery (the “Delaware Court”) shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification for such expenses as the Delaware Court shall deem proper.

 

Section 5.                                           Indemnification for Expenses of a Party Who is Wholly or Partly Successful.  Notwithstanding any other provisions of this Agreement and except as provided in Section 7, to the extent that Indemnitee is a party to or a participant in any Proceeding and is successful in such Proceeding or in defense of any claim, issue or matter therein, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or her in connection therewith.  If Indemnitee is not wholly successful in such Proceeding but is successful as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on his or her behalf in connection with each successfully resolved claim, issue or matter.  For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

Section 6.                                           Reimbursement for Expenses of a Witness or in Response to a Subpoena.  Notwithstanding any other provision of this Agreement, to the extent that Indemnitee, by reason of his or her Corporate Status, (i) is a witness in any Proceeding to which Indemnitee is not a party and is not threatened to be made a party or (ii) receives a subpoena with respect to any Proceeding to which Indemnitee is not a party and is not threatened to be made a party, the Company shall reimburse Indemnitee for all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection therewith.

 

Section 7.                                           Exclusions.  Notwithstanding any provision in this Agreement to the contrary, the Company shall not be obligated under this Agreement:

 

(a)                                 to indemnify for amounts otherwise indemnifiable hereunder (or for which advancement is provided hereunder) if and to the extent that Indemnitee has otherwise actually received such amounts under any insurance policy, contract, agreement or otherwise;

 

(b)                                 to indemnify for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state

 

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statutory law or common law, or from the purchase or sale by Indemnitee of such securities in violation of Section 306 of the Sarbanes-Oxley Act of 2002, as amended (“SOX”);

 

(c)                                  to indemnify for any reimbursement of, or payment to, the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company pursuant to Section 304 of SOX or any formal policy of the Company adopted by the Board (or a committee thereof), or any other remuneration paid to Indemnitee if it shall be determined by a final judgment or other final adjudication that such remuneration was in violation of law;

 

(d)                                 to indemnify with respect to any Proceeding, or part thereof, brought by Indemnitee against the Company, any legal entity which it controls, any director or officer thereof or any third party, unless (i) the Board has consented to the initiation of such Proceeding or part thereof and (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law; provided, however, that this Section 7(d) shall not apply to (A) counterclaims or affirmative defenses asserted by Indemnitee in an action brought against Indemnitee or (B) any action brought by Indemnitee for indemnification or advancement from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company in the suit for which indemnification or advancement is being sought as described in Section 12; or

 

(e)                                  to provide any indemnification or advancement of expenses that is prohibited by applicable law (as such law exists at the time payment would otherwise be required pursuant to this Agreement).

 

Section 8.                                           Advancement of Expenses.  Subject to Section 9(b), the Company shall advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding, and such advancement shall be made as incurred, and such advancement shall be made within thirty (30) days after the receipt by the Company of a statement or statements requesting such advances (including any invoices received by Indemnitee, which such invoices may be redacted as necessary to avoid the waiver of any privilege accorded by applicable law) from time to time, whether prior to or after final disposition of any Proceeding.  Advances shall be unsecured and interest free.  Advances shall be made without regard to Indemnitee’s (i) ability to repay the expenses, (ii) ultimate entitlement to indemnification under the other provisions of this Agreement, and (iii) entitlement to and availability of insurance coverage, including advancement, payment or reimbursement of defense costs, expenses of covered loss under the provisions of any applicable insurance policy (including, without limitation, whether such advancement, payment or reimbursement is withheld, conditioned or delayed by the insurer(s)).  Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement which shall constitute an undertaking providing that Indemnitee undertakes to the fullest extent required by law to repay the advance if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company.  The right to advances under this paragraph shall in all events continue until final disposition of any Proceeding, including any appeal therein.  Nothing in this Section 8 shall limit Indemnitee’s right to advancement pursuant to Section 12(e) of this Agreement.

 

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Section 9.                                         Procedure for Notification and Defense of Claim.

 

(a)                                 To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request therefor specifying the basis for the claim, the amounts for which Indemnitee is seeking payment under this Agreement, and all documentation related thereto as reasonably requested by the Company.

 

(b)                                 In the event that the Company shall be obligated hereunder to provide indemnification for or make any advancement of Expenses with respect to any Proceeding, the Company shall be entitled to assume the defense of such Proceeding, or any claim, issue or matter therein, with counsel approved by Indemnitee (which approval shall not be unreasonably withheld or delayed) upon the delivery to Indemnitee of written notice of the Company’s election to do so.  After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees or expenses of separate counsel subsequently employed by or on behalf of Indemnitee with respect to the same Proceeding; provided that (i) Indemnitee shall have the right to employ separate counsel in any such Proceeding at Indemnitee’s expense and (ii) if (A) the employment of separate counsel by Indemnitee has been previously authorized by the Company, (B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of such defense, or (C) the Company shall not continue to retain such counsel to defend such Proceeding, then the fees and expenses actually and reasonably incurred by Indemnitee with respect to his or her separate counsel shall be Expenses hereunder.

 

(c)                                  In the event that the Company does not assume the defense in a Proceeding pursuant to paragraph (b) above, then the Company will be entitled to participate in the Proceeding at its own expense.

 

(d)                                 The Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding effected without its prior written consent (which consent shall not be unreasonably withheld or delayed).  The Company shall not, without the prior written consent of Indemnitee (which consent shall not be unreasonably withheld or delayed), enter into any settlement which (i) includes an admission of fault of Indemnitee, any non-monetary remedy imposed on Indemnitee or any monetary damages for which Indemnitee is not wholly and actually indemnified hereunder or (ii) with respect to any Proceeding with respect to which Indemnitee may be or is made a party or may be otherwise entitled to seek indemnification hereunder, does not include the full release of Indemnitee from all liability in respect of such Proceeding.

 

Section 10.                                    Procedure Upon Application for Indemnification.(2)

 

(a)                                 Upon written request by Indemnitee for indemnification pursuant to Section 9(a), a determination, if such determination is required by applicable law, with respect to Indemnitee’s entitlement to indemnification hereunder shall be made in the specific case by one of the following methods: [(x) if a Change in Control shall have occurred and indemnification is

 

(2)  Bracketed portions for CEO Director version only

 

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being requested by Indemnitee hereunder in his or her capacity as a director of the Company, by Independent Counsel in a written opinion to the Board; or (y) in any other case,] (i) by a majority vote of the disinterested directors, even though less than a quorum; (ii) by a committee of disinterested directors designated by a majority vote of the disinterested directors, even though less than a quorum; or (iii) if there are no disinterested directors or if the disinterested directors so direct, by Independent Counsel in a written opinion to the Board.  For purposes hereof, disinterested directors are those members of the Board who are not parties to the action, suit or proceeding in respect of which indemnification is sought.  In the case that such determination is made by Independent Counsel, a copy of Independent Counsel’s written opinion shall be delivered to Indemnitee and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within thirty (30) days after such determination.  Indemnitee shall cooperate with the Independent Counsel or the Company, as applicable, in making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such counsel or the Company, upon reasonable advance request, any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination.  Any out-of-pocket costs or expenses (including reasonable attorneys’ fees and disbursements) actually and reasonably incurred by Indemnitee in so cooperating with the Independent Counsel or the Company shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

(b)                                 If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(a), the Independent Counsel shall be selected by the Board[; provided that, if a Change in Control shall have occurred and indemnification is being requested by Indemnitee hereunder in his or her capacity as a director of the Company, the Independent Counsel shall be selected by Indemnitee].  Indemnitee [or the Company, as the case may be,] may, within ten (10) days after written notice of such selection, deliver to the Company [or Indemnitee, as the case may be,] a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion.  Absent a proper and timely objection, the person so selected shall act as Independent Counsel.  If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or the Delaware Court has determined that such objection is without merit.  If, within twenty (20) days after the later of (i) submission by Indemnitee of a written request for indemnification pursuant to Section 9(a), and (ii) the final disposition of the Proceeding, including any appeal therein, no Independent Counsel shall have been selected without objection, either Indemnitee or the Company may petition the Delaware Court for resolution of any objection which shall have been made by Indemnitee or the Company to the selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall designate.   The person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 10(a) hereof.  Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 12(a) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

 

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Section 11.                                  Presumptions and Effect of Certain Proceedings.

 

(a)                                 To the extent permitted by applicable law, in making a determination with respect to entitlement to indemnification hereunder, it shall be presumed that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 9(a) of this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection with the making of any determination contrary to that presumption.  Neither (i) the failure of the Company or of Independent Counsel to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor (ii) an actual determination by the Company or by Independent Counsel that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

(b)                                 The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of guilty, nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his or her conduct was unlawful.

 

(c)                                  The knowledge and/or actions, or failure to act, of any director, manager, partner, officer, employee, agent or trustee of the Company, any subsidiary of the Company, or any Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.

 

Section 12.                                    Remedies of Indemnitee.

 

(a)                                 Subject to Section 12(f), in the event that (i) a determination is made pursuant to Section 10 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10(a) of this Agreement within sixty (60) days after receipt by the Company of the request for indemnification for which a determination is to be made other than by Independent Counsel, (iv) payment of indemnification or reimbursement of expenses is not made pursuant to Section 5 or 6 or the last sentence of Section 10(a) of this Agreement within thirty (30) days after receipt by the Company of a written request therefor (including any invoices received by Indemnitee, which such invoices may be redacted as necessary to avoid the waiver of any privilege accorded by applicable law) or (v) payment of indemnification pursuant to Section 3 or 4 of this Agreement is not made within thirty (30) days after a determination has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication by the Delaware Court of his or her entitlement to such indemnification or advancement.  Alternatively, Indemnitee, at his or her option, may seek an award in arbitration to

 

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be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association.  Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 12(a); provided, however, that the foregoing time limitation shall not apply in respect of a proceeding brought by Indemnitee to enforce his or her rights under Section 5 of this Agreement.  The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.

 

(b)                                 In the event that a determination shall have been made pursuant to Section 10(a) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 12 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.  In any judicial proceeding or arbitration commenced pursuant to this Section 12, the Company shall have the burden of proving Indemnitee is not entitled to indemnification or advancement, as the case may be.

 

(c)                                  If a determination shall have been made pursuant to Section 10(a) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

 

(d)                                 The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 12 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

(e)                                  The Company shall indemnify Indemnitee to the fullest extent permitted by law against any and all Enforcement Expenses and, if requested by Indemnitee, shall (within thirty (30) days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law, such Enforcement Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advancement from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company in the suit for which indemnification or advancement is being sought.  Such written request for advancement shall include invoices received by Indemnitee in connection with such Enforcement Expenses but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditures made that would cause Indemnitee to waive any privilege accorded by applicable law need not be included with the invoice.

 

(f)                                   Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding, including any appeal therein.

 

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Section 13.                                  Non-exclusivity; Survival of Rights; Insurance; Subrogation.

 

(a)                                 The rights of indemnification and to receive advancement as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Charter, the Bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise.  No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration or repeal.  To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement than would be afforded currently under the Charter, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change.  No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

 

(b)                                 To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, managers, partners, officers, employees, agents or trustees of the Company or of any other Enterprise, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, manager, partner, officer, employee, agent or trustee under such policy or policies.  If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies.  The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies.

 

(c)                                  In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

(d)                                 The Company’s obligation to provide indemnification or advancement hereunder to Indemnitee who is or was serving at the request of the Company as a director, manager, partner, officer, employee, agent or trustee of any other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement from such other Enterprise.

 

Section 14.                                    Duration of Agreement.  This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve as [both a director and] an officer of the Company or (b) one (1) year after the final termination of any Proceeding, including any appeal, then pending in respect of which Indemnitee is granted rights of indemnification or advancement hereunder and of any proceeding 

 

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commenced by Indemnitee pursuant to Section 12 of this Agreement relating thereto.  This Agreement shall be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and his or her heirs, executors and administrators.  The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

 

Section 15.                                    Severability.  If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

 

Section 16.                                    Enforcement.

 

(a)                                 The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve or continue to serve as [a director and] an officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as [a director and] an officer of the Company.

 

(b)                                 This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Charter, the Bylaws and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

 

Section 17.                                    Modification and Waiver.  No supplement, modification or amendment, or waiver of any provision, of this Agreement shall be binding unless executed in writing by the parties thereto.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.  No supplement, modification or amendment of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee prior to such supplement, modification or amendment.

 

11

 

Section 18.                                    Notice by Indemnitee.  Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification, reimbursement or advancement as provided hereunder.  The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise.

 

Section 19.                                    Notices.  All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed, (iii) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed or (iv) sent by facsimile transmission, with receipt of oral confirmation that such transmission has been received:

 

(a)                                 If to Indemnitee, at such address as Indemnitee shall provide to the Company.

 

(b)                                 If to the Company to:

 

HOOKIPA Pharma Inc.

430 East 29th Street, 14th Floor

New York, New York 10016

Attention:  Chief Executive Officer

 

or to any other address as may have been furnished to Indemnitee by the Company.

 

Section 20.                                    Contribution.  To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding in such proportion as is deemed fair and reasonable in light of all of the circumstances in order to reflect (i) the relative benefits received by the Company and Indemnitee in connection with the event(s) and/or transaction(s) giving rise to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transactions.

 

Section 21.                                    Internal Revenue Code Section 409A.  The Company intends for this Agreement to comply with the Indemnification exception under Section 1.409A-1(b)(10) of the regulations promulgated under the Internal Revenue Code of 1986, as amended (the “Code”), which provides that indemnification of, or the purchase of an insurance policy providing for payments of, all or part of the expenses incurred or damages paid or payable by Indemnitee with respect to a bona fide claim against Indemnitee or the Company do not provide for a deferral of compensation, subject to Section 409A of the Code, where such claim is based on actions or failures to act by Indemnitee in his or her capacity as a service provider of the Company.  The parties intend that this Agreement be interpreted and construed with such intent.

 

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Section 22.                                    Applicable Law and Consent to Jurisdiction.  This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules.  Except with respect to any arbitration commenced by Indemnitee pursuant to Section 12(a) of this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Delaware Court, and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) consent to service of process at the address set forth in Section 19 of this Agreement with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

 

Section 23.                                    Headings.  The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

 

Section 24.                                    Identical Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.  Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

[Remainder of Page Intentionally Left Blank]

 

13

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year first above written.

 

	
 
    	
HOOKIPA PHARMA INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
[Name of Indemnitee]Exhibit 10.15

 

CONSULTANCY AGREEMENT

 

This consultancy agreement (the “Agreement”) is made among and between:

 

1.              HOOKIPA Biotech GmbH, FN 365895g, c/o Julius-Raab-Platz 4, 1010 Vienna (after the change of corporate form “HOOKIPA Biotech AG”)

 

(the “Company”)

 

and

 

2.              Daniel D. Pinschewer, 17 chemin de Planta, 1223 Cologny

 

(the “Consultant”)

 

(each of them being also designated as a “Party” and together the “Parties”)

 

Preamble

 

WHEREAS

 

A.                          The Company is active in the biotechnological / pharmaceutical industry;

 

B.                          The Company intends to hire the Consultant to perform certain consultancy services as defined in Section 1 below.

 

C.                          The Consultant will have access to confidential and proprietary information, trade secrets, inventions and know-how, including confidential information relating to the business or interests of the Company and of persons and entities with whom the Company may have commercial, technical or scientific relationships, in particular information relating to the Company’s research and development programs and technology platforms;

 

D.                          The Parties desire to further specify the terms and conditions of the Consultant’s functions, in particular his rights and obligations towards the Company;

 

NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1

 

1.              Services

 

The Consultant agrees to perform the consultancy services agreed in the Schedules of Work attached hereto as Exhibit A (the “Services”), within the Consulting Service Term of this Agreement, as stipulated in Section 15. For the purposes of this Agreement, the expected level of effort for provision of consultancy services will be 20% of his time on average (i.e. one day/8 hours per week in average) while the Consultant is not bound to any fixed working hours and is free to choose his place of work. Each Schedule of Work defines the scope of the Services and other details (delivery schedule, etc.) for a separate project. The Company may at any time in liaison with the Consultant decide to assign further projects to the Consultant by establishing further Schedules of Work, it being understood that the terms and conditions of this Agreement will apply to such additional Services. The Company agrees that the Consultant shall have reasonable access to the Company’s representatives as necessary and on a timely manner to perform the Services as per this Agreement.

 

2.              Payment for Services

 

As consideration for the performance of the Services defined in the Schedules of Work (Exhibit A), the Company agrees to pay the Consultant, as follows

 

2.1 Fees. Fees for services provided within the Consulting Service Term of this Agreement, as stipulated in Section 15, will be a lump sum of EUR 50,000.—(Fifty thousand euros), VAT (“Umsatzsteuer”), if applicable, included. Such lump sum shall be paid by the Company to Consultant in 4 installments (EUR 12,500.—each installment) on the last day of March 2012, June 2012, September 2012 and December 2012, upon receiving an invoice and work report from the Consultant.

 

2.2 Reimbursable Expenses. In addition to the payments outlined in Section 2.1 of this Agreement, the Company will reimburse Consultant for all reasonable travel costs incurred while traveling to and from the Consultant’s place of business and the location specified by the Company. These costs include airfare, train, lodging, food, rental automobile, taxis, parking, other ground transportation. In addition, Company will reimburse Consultant for all reasonable costs associated with the services provided to the Company at his place of business and when traveling, proportionate to the level of effort specified in Section 1 (one day/8 hours per week in average), including telephone, fax, and internet charges, postage and courier charges, and office supplies. Receipts for these expenses will be attached to invoices submitted to the Company for reimbursement.

 

3.              Payment Terms

 

The Consultant shall send quarterly invoices for the Services rendered and for reimbursable expenses in accordance with this Agreement. The Company agrees that all invoiced fees and expenses payable under this Agreement shall be paid to the Consultant within thirty (30) business days of receipt of said invoice. Payments shall be made in Euros by wire transfer to the Consultant’s designated bank account.

 

2

 

All taxes and fees relating to amounts payable under this Agreement shall be deducted and transferred by Consultant to the competent authority.

 

4.              Reporting

 

The Consultant shall give to the Company such information regarding the performance and results of the Services as required by the Company. He is not obliged to comply with any instructions of the Company. The Company shall, however, be entitled to more closely specify the scope of work of the Consultant and to suspend or terminate the Consultant services for one or more projects.

 

5.              Subcontractors

 

The Consultant may, in providing the Services to the Company, engage the services of professionals (e.g., subcontractors and associates). At least one week prior to such engagement, the Consultant shall notify the Company in writing and shall abstain from the engagement in case that the Company objects to the engagement due to substantive concerns against the person of the professional.

 

6.              Work equipment, use of premises

 

The Consultant will use his own work equipment when providing the Services to the Company.

 

The Consultant will not use Company facilities as his place of business, except for occasional meetings.

 

7.              Confidentiality

 

“Information” shall mean all confidential information relating to the Company, including without limitation its products, business, operations, ideas, formulas, compositions, generally, including without limitation financial, technical, medical, biological, legal and commercial information, know-how, manufacturing and production processes, techniques, research and development information and trade secrets relating to the Company which may be disclosed to the Consultant for the purpose of providing the Services. The failure to identify the information as being confidential shall not relieve the Consultant from the obligations of confidentiality with respect to such information.

 

The Consultant hereby undertakes to keep the Information confidential and to use the Information solely for the purposes of providing the Services and not to disclose or reveal the Information to any third party, following the receipt of the Information.

 

Exclusions - Information shall not be deemed confidential and Consultant shall have no obligation with respect to any information which:

 

(i)                           at the time of the disclosure, is rightfully in the public domain;

(ii)                        subsequently becomes available to the public other than by a breach of this Agreement;

 

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(iii)                     is rightfully in the possession of the Consultant at the time such information is disclosed by the Company, without any limitation on use or disclosure prior to its receipt from the Consultant, as shown by documents or other tangible evidence in the Consultant’s possession;

(iv)                    has been fully received by the Consultant from a third party, who did not obtain the same from the Company, directly or indirectly;

(v)                       has been independently developed by the Consultant without assistance, application or use of the Information, as evidenced by written records of the Consultant; or

(vi)                    has been approved for release by a written authorization of the Company.

 

The Consultant undertakes to use the Information only for the purpose of providing the Services and not for any other purposes.

 

Following receipt of a written request from the Company, the Consultant must deliver to the Company, all tangible materials containing or embodying the Information within thirty (30) working days following the receipt of such request. The Information shall be sent by registered mail or by courier and the Consultant shall retain proof of such mailing.

 

The Parties acknowledge that the disclosure of the Information, without the express written consent of the Company, may cause damages to the Company. It is understood and agreed that money damages would not be a sufficient remedy for any breach of this Agreement by the Consultant and that the Company shall be entitled to seek other relief, including injunction or order of a competent court or administrative agencies and specific performance, as a remedy of such breach.

 

The Consultant will use the Information for the sole purpose of rendering the Services. The Information will be disclosed to the Consultant with the express understanding that neither the Consultant nor the Company will be obligated to enter into any further agreement relating to the Information.

 

It is understood and agreed that any and all proprietary rights, including, but not limited to, patent rights, trademarks and proprietary rights, in and to the Information disclosed to the Consultant shall be and remain in the possession of the Company and the Consultant shall have no right, title or interest in or to any of the Information.

 

The Article shall apply for the full term of this Agreement and for an unlimited time period after termination of this Agreement.

 

8.              Intellectual Property

 

8.1 Definition of “Proprietary Information”. Consultant understands that the Company possesses and will possess Proprietary Information, which is important to its business. For purposes of this Agreement, “Proprietary Information” is all information, whether or not in writing or other tangible form, that was or will be developed, created, or discovered by or on behalf of the Company, or which became or will become known by, or was or is conveyed to the Company, and which has commercial value to the Company. “Proprietary Information” includes, but is not limited to, information about trade secrets, designs, methodologies, technology, know-how, processes, data, ideas, techniques, inventions (whether patentable or not), trademarks, registered designs, features and modes of operation, internal documentation,

 

4

 

works of authorship, technical, business, financial, client, marketing, and product development plans, forecasts, the salaries and terms of compensation of employees, client and supplier lists, contacts and other information concerning the Company’s actual or anticipated products or services, business, research or development, or any information which is received in confidence by or for the Company from any other person.

 

8.2 Consultant’s obligations. The Consultant acknowledges that, because of the nature of the Consultant’s duties and the particular responsibilities arising as a result of such duties, the Consultant owes to the Company an obligation to further the interests of the Company.

 

The Consultant shall promptly disclose to the Company any idea or invention created or developed by the Consultant or his subcontractors and ensuing from the Services performed by the Consultant or his subcontractors during the term of this Agreement, which is actually or potentially relevant to the business of the Company.

 

The Consultant acknowledges that any Proprietary Information whether in existence now or coming into existence at any time in the future, on creation either during the normal course of Service or by using materials, tools or knowledge made available through Service to the Company shall vest in and be the exclusive property of the Company which the Company shall nominate and, if required to do so (whether before or after the termination of this Agreement), the Consultant will execute all instruments and do all things necessary to vest ownership in the above rights in the Company as sole beneficial owner. The Consultant may not, without the Company’s written consent, disclose, multiply, use, manufacture, bring on the market or sell, lease, deliver or otherwise trade, offer, or register the results of his Services.

 

The Consultant appoints the Company to be the Consultant’s attorney in the Consultant’s name and on the Consultant’s behalf to execute any such instrument or do any such thing necessary for the purpose of giving to the Company or its nominee the full benefit of the provisions of this clause 8. It is a condition of the Service that the Consultant executes as a deed the Power of Attorney attached as Exhibit B to this Agreement. Upon the Company’s request, the Consultant shall issue further powers of attorney to the Company within the same scope of the Power of Attorney Exhibit B, in particular if the Company requires a special Power of Attorney or a Power of Attorney with certain form requirements.

 

All information including, but not limited to notes, memoranda, computer discs, data sticks, software, databases, spreadsheets, files, reports, minutes, plans and records concerning the business of the Company or any of its, or their suppliers, agents, distributors, clients or customers which are received or made by the Consultant in the course of Service will be the property of the Company and must be surrendered by the Consultant to the Company at any time and in any event on the termination of Agreement.

 

The provisions of this clause 8 shall survive termination of this Agreement insofar as they relate to discoveries, inventions, secret processes, and improvements in procedure, trademarks, registered designs, design rights, copyright, database rights and all other intellectual property rights which were created before the termination of this Agreement.

 

The Company shall have the right to file applications for intellectual property rights containing the Consultant’s name. The Company will acknowledge the Consultant’s role as an inventor on patent applications, according to applicable rules of inventorship.

 

5

 

Insofar as rights that are mentioned above and are related to the intellectual property rights, are not vested in the Company by operation of law or based on this Agreement, the Consultant covenants that he will transfer and hereby transfers to the Company such rights provided, however, that the Company may at its sole discretion renounce such transfer or transfer back to the Consultant any such intellectual property rights at any time. If a transfer should not be possible under the applicable law, then the Consultant shall grant to the Company a perpetual, transferable, royalty-free license to use such Intellectual Property.

 

The Consultant acknowledges that his consultancy fees under Section 2.1 include reasonable compensation for the loss of intellectual property rights.

 

The Company is entitled to transfer the intellectual property rights in full or in part to any third party. Subject to mandatory applicable law, the Company and such third parties are not obliged to mention the Consultant as the author if they publish any inventions, computer programs or other works. They are free to make any modifications, translations and/or other adaptations and/or can refrain from making any publications.

 

With regard to intellectual property that cannot be entirely transferred to the Company, in particular intellectual property under the Austrian Copyright Act (Urheberrechtsgesetz) the Consultant shall transfer, upon the Company’s request, any and all rights that can be derived from such intellectual property rights (in particular rights to use the intellectual property / Werknutzungsrechte) to the Company.

 

9.              Vacation

 

The Consultant is not entitled to any paid vacation.

 

10.       Non-Competition and Non-Solicitation Undertaking

 

During the term of this Agreement and for a period of 10 years after termination hereof, the Consultant shall not act as a consultant for any competitor of the Company, that uses a recombinant arenavirus vector as a vaccine candidate. In particular, Consultant shall not directly or indirectly support the development, improvement and manufacture of any product of any competitor of the Company that uses a recombinant arenavirus vector as a vaccine candidate or support the distribution of such product. In addition, during the term of this Agreement and for a period of 3 years after termination hereof, the Consultant shall not act as a consultant for any competitor of the Company that is developing a vaccine against the Company’s targets, cytomegalovirus and/or others (to be defined).

 

6

 

Nothing in this Agreement shall be construed to restrict Consultant’s activity as a professor in the Department of Pathology and Immunology and the W.H.O. Collaborating Centre for Vaccine Immunology of the University of Geneva or in any other mere scientific and non-commercial activity, or his ability to enter into new agreements; provided that (a) Consultant’s new agreements in the field of vaccines shall be disclosed in advance and in writing to the Company; (b) in carrying out any such activities, Consultant shall at all times adhere to his confidentiality obligations and non-competition clauses of this Agreement; (c) the totality of such outside activities shall not affect the time committed by the Consultant to Company under this Agreement (1 days per week) unless with the prior consent of the Company; and (c) Consultant shall be bound by any confidentiality agreements pertaining to such outside activities and will not disclose confidential information of third parties to the Company.

 

11.       Approval

 

The Consultant declares that this Agreement has been notified to the Consultant’s employer(s) and that his employer(s) have approved of this Agreement. Should the Consultant be obliged under applicable laws and regulations or employment contracts to pay any portion of the remuneration under this Agreement to his or her employer or any other third party, the Consultant shall be solely responsible for such payments.

 

12.       Independent Contractors

 

It is the express intention of the parties that Consultant is an independent contractor, and is classified by the Company as such for all tax and employee benefit purposes, and is not an employee, agent, or partner of the Company. Nothing in this Agreement shall be construed as granting to the Consultant any license or right under any patent rights or as representing any commitment by either Party to enter into any license or other agreement by implication or otherwise.

 

Consultant acknowledges and agrees that Consultant is obligated to report as income all compensation received by Consultant pursuant to this Agreement and that Consultant is solely responsible for all taxes, withholdings, and other similar statutory obligations including, but not limited to, self-employment tax and social security. In the event that Consultant, employs assistants or subcontractors to aid in the performance of the Services, the parties agree that such assistants or subcontractors are employed or retained solely by Consultant, and that Consultant alone is responsible for providing workers’ compensation insurance for, paying the compensation, salaries and wages of, and ensuring that all required tax withholdings are made for such assistants or subcontractors. Consultant agrees to ensure that any such assistants or subcontractors shall abide by all of the terms of this Agreement. Consultant agrees to defend, indemnify and hold the Company harmless from any and all claims made by any entity on account of an alleged failure by Consultant to satisfy any tax or withholding obligations of Consultant.

 

13.       Entire Agreement

 

This Agreement and the Exhibits hereto, contain the entire Agreement between the Parties hereto with respect to the matters covered herein. No other agreements, representations, warranties, or other matters, oral or written, purportedly agreed to or represented by or on

 

7

 

behalf of the Consultant, shall be deemed to bind the Parties hereto with respect to the subject matter hereof. The Company acknowledges that it is entering into this Agreement solely on the basis of representations contained herein. In the event of a conflict in the provisions of the Exhibits hereto and the provisions set forth in the Agreement, the provisions of the Exhibits shall prevail.

 

14.       Applicable Law and competent jurisdiction

 

This Agreement is subject to Austrian law and the competent court in the First district of the City of Vienna, Austria, shall have exclusive jurisdiction for all disputes between the parties arising out of or in connection with this Agreement.

 

15.       Term and Termination

 

The Agreements shall be effective from January 1st, 2012 (Effective Date) and shall remain in force for a period of One year until December 31st, 2012 (Consulting Service Term) unless earlier terminated by the Consultant in case the University of Geneva would in the future withdraw its consent to this side activity of the Consultant for the Company. The extension of this Agreement shall be subject to mutual written agreement by both Parties and the Parties shall review the services to be provided and determine whether the level of effort specified in Section 1 and the scope of work require changes to reflect the on-going needs of the Company.

 

This Agreement may be terminated by either Party at any time on cause (aus wichtigem Grund) with immediate effect as well as without cause upon a thirty (30) day written notice delivered to the other Party. In the event a notice of termination is issued, the Company shall promptly pay to the Consultant any monies due and owing to the Consultant in relation to any Services performed by the Consultant prior to the date of such termination and any costs associated with the termination itself and the Consultant will promptly return to the Company all tangible materials containing or embodying the Information.

 

16.       Severability

 

The illegality, invalidity or unenforceability in any jurisdiction of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement in that or any other jurisdiction. The Parties undertake to negotiate in good faith to replace the relevant provision by another provision reflecting as closely as possible the original intention and purpose of the Parties.

 

17.       Disclaimer

 

Each party to this agreement hereby disclaims any and all warranties, either express or implied, including without limitation any warranties of merchantability, fitness for a particular purpose, and non-infringement. Without limiting the foregoing, Consultant hereby disclaims any and all representations pertaining to (a) the efficacy, safety, market potential and/or other characteristics or qualities of any product developed in the course of the services provided and/or (b) whether any product can be designed, developed, marketed or sold without infringing any third party intellectual property rights.

 

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18.       Indemnification

 

18.1                        Indemnification by Consultant. Unless otherwise provided herein, Consultant agrees to indemnify, hold harmless, and defend the Company, its affiliates, and any of their respective directors, officers, employees, and agents (collectively, the “Company Indemnitees”) from and against any and all liability, damages, loss, cost or expense (including reasonable attorneys’ fees) (“Losses”) arising out of third party claims, actions, proceedings, or suits (“Claims”), to the extent resulting from: a breach by Consultant of an obligation set forth in this Agreement; or the willful misconduct of the Consultant or and of his employees or subcontractors. Such indemnity shall not apply if the Company fails to comply with the indemnification procedures set forth in Section 18.2 or to the extent that a Loss results from (i) breach by Company of its obligations under this Agreement; or (ii) the negligence, recklessness or willful misconduct of any Company Indemnitee.

 

18.2                        Indemnification by Company. Unless otherwise provided herein, the Company agrees to indemnify, hold harmless, and defend Consultant and his employees, and subcontractors if any (collectively, the “Assignor Indemnitees”) from and against any and all Losses arising out of Claims, to the extent resulting from: (a) research, development, manufacture, possession, storage, transport, importation, use, sale, marketing, or distribution of products arising out of the services provided by the Consultant in the territory by Company or its affiliates or licensees; (b) breach by the Company of any obligation set forth in this Agreement; or (c) the willful misconduct of the Company, any of its affiliates, or any of their respective employees or agents. Such indemnity shall not apply if the Consultant fails to comply with the indemnification procedures set forth in Section 18.1 or to the extent that a Loss results from (i) a breach by Consultant of any obligation of this Agreement; or (ii) the negligence, recklessness or willful misconduct of the Consultant or any of his employees or subcontractors (if any)

 

18.3                        Control of Defense. Any entity entitled to indemnification under this Article 18 shall give written notice to the indemnifying Party of any Claims that may be subject to indemnification, promptly after learning of such Claim. Within a reasonable time after receiving such notice, the indemnifying Party shall assume the defense of such Claim with counsel reasonably satisfactory to the indemnified Party. The indemnified Party shall cooperate with the indemnifying Party in such defense. The indemnified Party may, at his or its option and expense, be represented by counsel of his or its choice in any action or proceeding with respect to such Claim. The indemnifying Party shall not be liable for any litigation costs or expenses incurred by the indemnified Party without the indemnifying Party’s written consent, such consent not to be unreasonably withheld. The indemnifying Party shall not settle any such Claim if such settlement (a) does not fully and unconditionally release the indemnified Party from all liability relating thereto or (b) adversely impacts the rights granted to the indemnified Party under this Agreement, unless the indemnified Party otherwise agrees in writing.

 

9

 

19.       Notices

 

Any notice in connection with this Agreement shall be sent by registered mail, delivery or fax as follows:

 

	
Company:
    	
 
    	
Consultant:
    
	
CEO
    	
 
    	
Daniel Pinschewer
    
	
HOOKIPA Biotech GmbH
    	
 
    	
17 chemin de Planta
    
	
 
    	
 
    	
1223 Cologny
    
	
c/o Julius-Raab-Platz 4
    	
 
    	
Switzerland
    
	
1010 Vienna
    	
 
    	
 
    

 

or to such other address or facsimile number as is notified in writing from time to time by any Party to this Agreement to the other Party hereto.

 

20.  Assignment

 

A Party may not assign this Agreement without the prior written consent of the other Party.

 

 

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement.

 

	
Company:
    	
 
    
	
Hookipa Biotech GmbH
    	
 
    
	
Dr. Katherine   Cohen
    	
 
    
	
 
    	
 
    
	
Signature
    	

    	
 
    
	
 
    	
 
    	
 
    
	
Date
    	
Nov   13, 2011
    	
 
    

 

 

	
Consultant:
    	
 
    
	
Daniel Pinschewer
    	
 
    
	
 
    	
 
    
	
Signature
    	

    	
 
    
	
 
    	
 
    	
 
    
	
Date
    	
Nov 16th 2011
    	
 
    

 

10

 

EXHIBIT A

 

Schedules of Work

 

The Consultant will in particular report to Dr Katherine Cohen, CEO who will monitor the Services provided to the Company.

 

Scope of the Services:

 

·                  Provide consultancy to the development plan with respect to:

 

·                  Vector production strategy;

·                  Choice of target diseases / antigens.

·                  Specialized expertise on the arenavirus vector platform

 

·                  Consult Company’s IP strategy

 

·                  Provide technology advice on Company’s wetlab activities

 

·                  Advise company on international funding opportunities provided by organizations such as the Gates Foundation and NIH.

 

3. General Tasks:

 

·                  Supporting the Project Teams

·                  Participate in Project Meetings/teleconferences

·                  Undertake specific project tasks, as specified and agreed

·                  Consulting on timelines and budgets

·                  Serve as the Company’s scientific advisor (for example as member of SAB)

·                  Providing consultation to manufacturing and vector design

 

11

 

EXHIBIT B

 

POWER OF ATTORNEY

 

By this Power of Attorney Daniel Pinschewer, 17 chemin de Planta, 1223 Cologny, Switzerland, in accordance with the terms of my Consultancy Agreement with Hookiba Biotech GmbH (the “Company”) dated today (the “Consultancy Agreement”) HEREBY APPOINT the Company to act as my attorney with authority in my name and on my behalf:

(a)                                                                                 during my service or after it has terminated, to do anything and sign or execute any document and generally to use my name for the purpose of giving to the Company or its or their nominee(s) the full benefit of clauses 8; and

(b)                                                                                 to appoint any substitute and to delegate to that substitute all or any powers conferred by this Power of Attorney.

 

I declare that this Power of Attorney, having been given by me to secure my obligations under clause 8 of the Consultancy Agreement, shall be irrevocable in accordance with Section 1002 following of the Austrian Civil Code (as amended from time to time).

 

Hookiba Biotech GmbH (“the Company”) is released from the restrictions regarding self-contracting and also entitled to multiple representations (Doppelvertretung).

 

 

IN WITNESS whereof this Power of Attorney has been duly executed.

EXECUTED as a deed by:

 

	
Signature:
    	

    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
16 Nov 2011
    	
 
    

 

Witness

 

	
Signature:
    	

    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
Doron Merkler
    	
 
    
	
 
    	
 
    	
 
    
	
Address:
    	
Route De Valleiry 28A
    	
 
    
	
 
    	
 
    	
 
    
	
1284   Chancy CH
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
16 Nov 2011
    	
 
    

 

12

 

AMENDMENT TO THE AGREEMENT

 

between

 

1.              HOOKIPA Biotech GmbH, FN 365895g, Helmut-Qualtinger-Gasse 2, 1030 Vienna, Austria (“HOOKIPA Biotech AG”)

 

(the “Company”)

 

and

 

2.              Daniel D. Pinschewer, 17 chemin de Planta, 1223 Cologny

 

(the “Consultant”)

 

(each of them being also designated as a “Party” and together the “Parties”)

 

RECITALS

 

WHEREAS, the Parties entered into a Consultancy Agreement signed by the Company on November 13, 2011 and by the Consultant on November 16, 2011, (the “Agreement”) whereby the Company hired Daniel Pinschewer as Consultant.

 

WHEREAS, the Parties now wish to extend the Agreement in accordance with the terms and conditions of this amendment (the “Amendment”).

 

NOW THEREFORE THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1.              The Agreement is hereby extended for one more year from January 1, 2013 to December 31, 2013 (“Extension Period”).

 

2.              The Consultant confirms that he has received all Fees and Reimbursable Expenses governed in Section 2 of the Agreement for January 1, 2012 to December 31, 2012. The Payment dates specified in Section 2 of the Agreement will be changed to the corresponding dates for Extension Period for the service during such period.

 

3.              All terms and conditions in Agreement remain in force for the Amendment.

 

1

 

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement.

 

	
Company:
    	
 
    	
 
    
	
Hookipa Biotech AG
    	
 
    
	
Dr. Katherine   Cohen, CEO
    	
 
    
	
 
    	
 
    	
 
    
	
Signature
    	

    	
 
    
	
 
    	
 
    	
 
    
	
Date
    	
7 Jan 2013
    	
 
    

 

 

	
Consultant:
    	
 
    
	
Dr. Daniel Pinschewer
    	
 
    
	
 
    	
 
    	
 
    
	
Signature
    	

    	
 
    
	
 
    	
 
    	
 
    
	
Date
    	
7 January 2013
    	
 
    

 

2

 

AMENDMENT NO. 2 TO THE CONSULTANCY AGREEMENT

 

between

 

1.              HOOKIPA Biotech AG, FN 365895g, Helmut-Qualtinger-Gasse 2, 1030 Vienna, Austria

 

(the “Company”)

 

and

 

2.              Prof. Dr. Daniel Pinschewer, Im Zehntenfrei 21 A, 4102 Binningen, Switzerland

 

(the “Consultant”)

 

(each of them being also designated as a “Party” and together the “Parties”)

 

RECITALS

 

WHEREAS, the Parties entered into a Consultancy Agreement signed by the Company on November 13, 2011 and by the Consultant on November 16, 2011 (the “Agreement”) whereby the Company hired Daniel Pinschewer as Consultant. The Parties signed an amendment (the “Amendment No. 1”) to the Agreement on January 7, 2013.

 

WHEREAS, the Parties now wish to extend the Agreement in accordance with the terms and conditions of this amendment (the “Amendment No. 2”).

 

NOW THEREFORE THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1.              The Agreement is hereby extended for one year from January 1, 2014 to December 31, 2014 (the “Extension Period”).

 

2.              The address of the Consultant shall be amended to: Im Zehntenfrei 21A, 4102 Binningen, Switzerland

 

3.              The Payment dates specified in Section 2 of the Agreement will be changed to the corresponding dates for the Extension Period for the Consultant’s service during such period.

 

4.              In Section 10 of the Agreement the words “Department of Pathology and Immunology and the W.H.O. Collaborating Centre for Vaccine Immunology of the University of Geneva” shall be deleted and replaced by “Department of Biomedicine of the University of Basel.” All other texts in Section 10 remain unchanged.

 

5.              The first sentence of Section 11 of the Agreement (“Approval”) shall be amended to read: “The Consultant declares that this Agreement is notified to the Consultant’s employer, the University of Basel, in accordance with the latter institutions regulations.”

 

1

 

6.              All other terms and conditions in the Agreement remain in force for the Amendment No. 2.

 

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement.

 

	
Company:
    	
Consultant:
    
	
Hookipa   Biotech AG
    	
Prof.   Dr. Daniel Pinschewer
    
	
Dr. Katherine   Cohen, CEO
    	
 
    
	
 
    	
 
    
	
Signature   
    	

    	
 
    	
Signature
    	

    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date   
    	
Dec   13, 2013
    	
 
    	
Date 
    	
Dec.16th 2013
    	
 
    

 

2

 

AMENDMENT NO. 3 TO THE CONSULTANCY AGREEMENT

 

between

 

1.              HOOKIPA Biotech AG, FN 365895g, Helmut-Qualtinger-Gasse 2, 1030 Vienna, Austria

 

(the “Company”)

 

and

 

2.              Prof. Dr. Daniel Pinschewer, Im Zehntenfrei 21A, 4102 Binningen, Switzerland

 

(the “Consultant”)

 

(each of them being also designated as a “Party” and together the “Parties”)

 

RECITALS

 

WHEREAS, the Parties entered into a Consultancy Agreement signed by the Company on November 13, 2011 and by the Consultant on November 16, 2011 (the “Agreement”) whereby the Company hired Daniel Pinschewer as Consultant. The Parties signed an amendment (the “Amendment No. 1”) to the Agreement on January 7, 2013 and a further amendment (the “Amendment No. 2”) on December 13th, 2013 and December 16th, 2013, respectively.

 

WHEREAS, the Parties now wish to extend the Agreement, as amended, in accordance with the terms and conditions of this amendment (the “Amendment No. 3”).

 

NOW THEREFORE THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1.              The Agreement, as amended, is hereby extended for one year from January 1, 2015 to December 31, 2015 (the “Extension Period”).

 

2.              The Payment dates specified in Section 2 of the Agreement, as amended, will be changed to the corresponding dates for the Extension Period for the Consultant’s service during such period.

 

3.              All other terms and conditions in the Agreement, as amended, remain in force for the Amendment No. 3.

 

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement.

 

	
Company:
    	
 
    	
Consultant:
    
	
Hookipa Biotech AG
    	
 
    	
Prof. Dr. Daniel Pinschewer
    
	
Dr. Katherine Cohen, CEO
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Signature
    	

    	
 
    	
Signature
    	

    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date
    	
December 18, 2014
    	
 
    	
Date
    	
December 15th 2014
    

 

1

 

AMENDMENT NO. 4 TO THE CONSULTANCY AGREEMENT

 

between

 

1.              HOOKIPA Biotech AG, FN 365895g, Helmut-Qualtinger-Gasse 2, 1030 Vienna, Austria

 

(the “Company”)

 

and

 

2.     Prof. Dr. Daniel Pinschewer, Im Zehntenfrei 21A, 4102 Binningen, Switzerland

 

(the “Consultant”)

 

(each of them being also designated as a “Party” and together the “Parties”)

 

RECITALS

 

WHEREAS, the Parties entered into a Consultancy Agreement signed by the Company on November 13, 2011 and by the Consultant on November 16, 2011 (the “Agreement”) whereby the Company hired Daniel Pinschewer as Consultant. The Parties signed an amendment (the “Amendment No. 1”) to the Agreement on January 7, 2013, a further amendment (the “Amendment No. 2”) on December 13, 2013 and December 16, 2013. and a further amendment (the “Amendment No. 3”) on December 15, 2014 and December 18, 2014, respectively.

 

WHEREAS, the Parties now wish to extend the Agreement, as amended, in accordance with the terms and conditions of this amendment (the “Amendment No. 4”).

 

NOW THEREFORE THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1.              The Agreement, as amended, is hereby extended for one year from January 1, 2016 to December 31, 2016 (the “Extension Period”).

 

2.              The Payment dates specified in Section 2 of the Agreement, as amended, will be changed to the corresponding dates for the Extension Period for the Consultant’s service during such period.

 

3.              All other terms and conditions in the Agreement, as amended, remain in force for the Amendment No. 4.

 

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement.

 

	
Company:
    	
 
    	
Consultant:
    
	
Hookipa Biotech AG
    	
 
    	
Prof. Dr. Daniel Pinschewer
    
	
Dr. Katherine Cohen, CEO
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Signature
    	

    	
 
    	
Signature
    	

    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date
    	
Feb 25, 2016
    	
 
    	
Date
    	
Feb 24th 2016
    

 

1

 

AMENDMENT NO. 5 TO THE CONSULTANCY AGREEMENT

 

between

 

1.              HOOKIPA Biotech AG, EN 365895g, Helmut-Qualtinger-Gasse 2, 1030 Vienna, Austria

 

(the “Company”)

 

and

 

2.              Prof. Dr. Daniel Pinschewer, Im Zehntenfrei 5, 4102 Binningen, Switzerland

 

(the “Consultant”)

 

(each of them being also designated as a “Party” and together the “Parties”)

 

RECITALS

 

WHEREAS, the Parties entered into a Consultancy Agreement signed by the Company on November 13, 2011 and by the Consultant on November 16, 2011 (the “Agreement”) whereby the Company hired Daniel Pinschewer as Consultant. The Parties signed an amendment (the “Amendment No. 1”) to the Agreement on January 7, 2013, a further amendment (the “Amendment No. 2”) on December 13, 2013 and December 16, 2013, a further amendment (the “Amendment No. 3”) on December 15, 2014 and December 18, 2014, and a further amendment (the “Amendment No. 4”) on February 24, 2016 and February 25, 2016, respectively.

 

WHEREAS, the Parties now wish to extend the Agreement, as amended, in accordance with the terms and conditions of this amendment (the “Amendment No. 5”).

 

NOW THEREFORE THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1.              The Agreement, as amended, is hereby extended for one year from January 1, 2017 to December 31, 2017 (the “Extension Period”).

 

2.              The Payment dates specified in Section 2 of the Agreement, as amended, will be changed to the corresponding dates for the Extension Period for the Consultant’s service during such period.

 

3.              All other terms and conditions in the Agreement, as amended, remain in force for this Amendment No. 5.

 

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement.

 

	
Company:
    	
 
    	
Consultant:
    
	
Hookipa Biotech AG
    	
 
    	
Prof. Dr. Daniel Pinschewer
    
	
Jörn Aldag, CEO
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Signature
    	

    	
 
    	
Signature
    	

    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date
    	
7.12.16
    	
 
    	
Date
    	
7.12.2016
    

 

1

 

AMENDMENT NO. 6 TO THE CONSULTANCY AGREEMENT

 

between

 

1.              HOOKIPA Biotech AG, FN 365895g, Helmut-Qualtinger-Gasse 2, 1030 Vienna, Austria

 

(the “Company”)

 

and

 

2.              Prof. Dr. Daniel Pinschewer, Im Zehntenfrei 5, 4102 Binningen, Switzerland

 

(the “Consultant”)

 

(each of them being also designated as a “Party” and together the “Parties”)

 

RECITALS

 

WHEREAS, the Parties entered into a Consultancy Agreement signed by the Company on November 13, 2011 and by the Consultant on November 16, 2011 (the “Agreement”) whereby the Company hired Daniel Pinschewer as Consultant. The Parties signed an amendment (the “Amendment No. 1”) to the Agreement on January 7, 2013, a further amendment (the “Amendment No. 2”) on December 13, 2013 and December 16, 2013, a further amendment (the “Amendment No. 3”) on December 15, 2014 and December 18, 2014, a further amendment (the “Amendment No. 4”) on February 24, 2016 and February 25, 2016, and a further amendment (the “Amendment No. 5”) on December 7, 2016, respectively.

 

WHEREAS, the Parties now wish to extend the Agreement, as amended, in accordance with the terms and conditions of this amendment (the “Amendment No. 6”).

 

NOW THEREFORE THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1.              The Agreement, as amended, is hereby extended for one year from January 1, 2017 to December 31, 2017 (the “Extension Period”).

 

2.              Section 2 of the Agreement shall be amended such that the fees for the Services provided within the Extension Period defined above, will be a lump sum of EUR 60,000 (sixty thousand euros), VAT, if applicable, included. Such lump sum shall be paid by the Company to Consultant in 4 installments (EUR 15,000 each installment) on the last day of March 2017, June 2017, September 2017 and December 2017, upon receiving an invoice and work report from the Consultant.

 

3.              The Schedules of Work as defined in Exhibit A of the Agreement, shall be changed so that the Consultant shall now report to Jörn Aldag, CEO of the Company. General tasks defined in Exhibit A of the Agreement, shall be amended to also include the « representation of the Company, including presentation of Company technologies, in meetings with investors and/or potential business partners of Company ».

 

4.              In consideration of the amended Schedules of Work as defined above the parties agree that the Consultant shall hold the title of CSO (Chief Scientific Officer) of the Company when representing the Company in meetings with third parties.

 

1

 

5.              The Consultant shall further be granted 6375 stock options of the Company, subject to the terms and conditions of the Company’s stock option plan 2016.

 

6.              All other terms and conditions in the Agreement, as amended, remain in force for this Amendment No. 6.

 

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement.

 

	
Company:
    	
 
    	
Consultant:
    
	
Hookipa Biotech AG
    	
 
    	
Prof. Dr. Daniel Pinschewer
    
	
Jörn Aldag, CEO
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Signature
    	

    	
 
    	
Signature
    	

    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
December 14,   2016
    	
 
    	
Date
    	
16.Dec.2016
    

 

2

 

AMENDMENT NO. 7  TO THE CONSULTANCY AGREEMENT

 

between

 

1.              HOOKIPA Biotech AG, FN 365895g, Helmut-Qualtinger-Gasse 2, 1030 Vienna, Austria

 

(the “Company”)

 

and

 

2.              Prof. Dr. Daniel Pinschewer, Im Zehntenfrei 5, 4102 Binningen, Switzerland

 

(the “Consultant”)

 

(each of them being also designated as a “Party” and together the “Parties”)

 

RECITALS

 

WHEREAS, the Parties entered into a Consultancy Agreement signed by the Company on November 13, 2011 and by the Consultant on November 16, 2011 (the “Agreement”) whereby the Company hired Daniel Pinschewer as Consultant. The Parties signed an amendment (the “Amendment No. 1”) to the Agreement on January 7, 2013, a further amendment (the “Amendment No. 2”) on December 13, 2013 and December 16, 2013, a further amendment (the “Amendment No. 3”) on December 15, 2014 and December 18, 2014, a further amendment (the “Amendment No. 4”) on February 24, 2016 and February 25, 2016, a further amendment (the “Amendment No. 5”) on December 7, 2016, and a further amendment (the “Amendment No. 6”) on December 14, 2016 and December 16, 2016, respectively.

 

WHEREAS, the Parties now wish to extend the Agreement, as amended, in accordance with the terms and conditions of this amendment (the “Amendment No. 7”).

 

NOW THEREFORE THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1.              The Agreement, as amended, is hereby extended for one year from January 1, 2018 to December 31, 2018 (the “Extension Period”).

 

2.              The Payment dates specified in Section 2 of the Agreement, as amended, will be changed to the corresponding dates for the Extension Period for the Consultant’s service during such period.

 

3.              All other terms and conditions in the Agreement, as amended, remain in force for this Amendment No. 7.

 

1

 

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement.

 

	
Company:
    	
 
    	
Consultant:
    
	
Hookipa Biotech AG
    	
 
    	
Prof. Dr. Daniel Pinschewer
    
	
Jörn Aldag, CEO
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Signature
    	

    	
 
    	
Signature
    	

    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date:
    	
4-Dec-2017
    	
 
    	
Date
    	
4.12.2017
    

 

2

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