Document:

Exhibit
10.7

 

SECOND
INTERCOMPANY REVOLVING LOAN AGREEMENT

 

THIS
SECOND INTERCOMPANY REVOLVING LOAN AGREEMENT (this “Loan Agreement”) is made effective as of March 31, 2021 by and between
Biofrontera Inc., a Delaware corporation with a principal office located at 120 Presidential Way, Woburn, MA 01801 USA (the “Borrower”)
and Biofrontera AG, a German stock corporation registered under HRB 49717 at the lower court of Cologne and having its principal offices
at Hemmelrather Weg 201, 51377 Leverkusen, Germany (the “Lender”) Lender and Borrower may sometimes be referred to as the
“Parties”.

 

BACKGROUND

 

WHEREAS,
the Parties previously entered into a certain Intercompany Revolving Loan Agreement, first dated June 19, 2015 and amended thereafter
(collectively, the “First Loan Agreement”);

 

WHEREAS,
the Parties entered into a certain Debt Conversion Agreement dated December 31, 2020 (the “Debt Conversion”), by which the
parties agreed to convert all outstanding debt owed by Borrower to Lender under the First Loan Agreement into shares of stock in Borrower;

 

WHEREAS,
effective as of the date referenced above, the Parties wish to formally terminate the First Loan Agreement and enter into a new revolving
loan agreement;

 

NOW,
THEREFORE, in exchange for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties
agree as follows:

 

	1.	DEFINITIONS.
	 	 	 
	 	a.	“Advance”
    shall have the meaning given in Section 2(a) of the Loan Agreement.
	 	 	 
	 	b.	“Business
    Day” shall mean any day on which commercial banks are not authorized or required to close in Germany.
	 	 	 
	 	c.	“Change
    in Control” shall mean i) the sale of all or substantially all the assets of a Party; ii) any merger, consolidation or acquisition
    of a Party with, by or into another corporation, entity, or person; or iii) any change in which beneficial ownership of securities
    of the Company representing at least fifty percent (50%) of the combined voting power entitled to vote in the election of directors
    has changed.
	 	 	 
	 	d.	“Commitment”
    shall mean an amount equal to Twenty Million Dollars ($20,000,000.00).
	 	 	 
	 	e.	“Default”
    shall mean any event or circumstance not yet constituting an Event of Default but which, with the giving of any notice or the lapse
    of any period of time or both, would become an Event of Default.
	 	 	 
	 	f.	“Event
    of Default” shall have the meaning given to that term in Section 5(a).
	 	 	 
	 	g.	“GAAP”
    shall mean generally accepted accounting principles and practices as promulgated by the Financial Accounting Standards Board and
    as in effect in Germany from time to time, consistently applied. Unless otherwise indicated in this Loan Agreement, all accounting
    terms used in this Loan Agreement shall be construed, and all accounting and financial computations hereunder or thereunder shall
    be computed, in accordance with GAAP.

 

    	1

     

    

 

	 	h.	“Governmental
    Authority” shall mean any domestic or foreign national, state or local government, any political subdivision thereof, any department,
    agency, authority or bureau of any of the foregoing, or any other entity exercising executive, legislative, judicial, regulatory
    or administrative functions of or pertaining to government.
	 	 	 
	 	i.	“Indebtedness”
    of any Person shall mean and include the aggregate amount of, without duplication (a) all obligations of such Person for borrowed
    money, (b) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (c) all obligations
    of such Person to pay the deferred purchase price of property or services (other than accounts payable incurred in the ordinary course
    of business determined in accordance with GAAP), (d) all obligations under capital leases of such Person, (e) all obligations or
    liabilities of others secured by a lien on any asset of such Person, whether or not such obligation or liability is assumed, (f)
    all guaranties of such Person of the obligations of another Person; (g) all obligations created or arising under any conditional
    sale or other title retention agreement with respect to property acquired by such Person (even if the rights and remedies of the
    seller or lender under such agreement upon an event of default are limited to repossession or sale of such property), (h) net exposure
    under any interest rate swap, currency swap, forward, cap, floor or other similar contract that is not entered to in connection with
    a bona fide hedging operation that provides offsetting benefits to such Person, which agreements shall be marked to market on a current
    basis, (i) all reimbursement and other payment obligations, contingent or otherwise, in respect of letters of credit.
	 	 	 
	 	j.	“Loan
    Agreement” shall have the meaning set forth in the opening paragraph of this document.
	 	 	 
	 	k.	“Loan
    Documents” shall mean and include this Loan Agreement and any other documents, instruments and agreements delivered to Lender
    in connection with this Loan Agreement.
	 	 	 
	 	l.	“Obligations”
    shall mean and include all Advances, debts, liabilities, and financial obligations, howsoever arising, owed by Borrower to Lender
    of every kind and description (whether or not evidenced by any note or instrument), direct or indirect, absolute or contingent, due
    or to become due, now existing or hereafter arising pursuant to the terms of any of the Loan Documents, including, without limitation,
    all interest, fees, charges, expenses, reasonable attorney s’ fees (and expenses) and accountants’ fees (and expenses)
    chargeable to Borrower or payable by Borrower hereunder or thereunder.
	 	 	 
	 	m.	“Person”
    shall mean and include an individual, a partnership, a corporation (including a business trust), a joint stock company, a limited
    liability company, an unincorporated association, a joint venture or other entity or a Governmental Authority.
	 	 	 
	 	n.	“Termination
    Date” shall mean the second anniversary of the date of this Loan Agreement.

 

    	2

     

    

 

	2.	ADVANCES.
	 	 	 	 
	 	a.	Terms.
    Subject to the terms and conditions of this Loan Agreement, Lender agrees to advance to Borrower from time to time and until the
    Termination Date, such sums as Borrower may request (the “Advances”) but which shall not exceed, in the aggregate principal
    amount at any one time outstanding, the Commitment. Advances shall be made in lawful currency of the United States of America and
    shall be made available within three Business Days after request. Each Advance shall be in an amount equal to at least $5,000 or
    any integral multiple of $1,000 in excess thereof and shall be made three Business Days after written request (or telephonic request
    confirmed in writing, email being sufficient). Subject to the terms and conditions hereof, Borrower may borrow pursuant to this Section
    2(a) prepay the Advances and re-borrow pursuant to this Section 2(a).
	 	 	 	 
	 	b.	Payment
    of Outstanding Amounts.
	 	 	 	 
	 	 	i.	If
    not paid earlier, the outstanding principal and interest balance of all Advances shall be due and payable to the Lender on the Termination
    Date.
	 	 	 	 
	 	 	ii.	At
    the Lender’s sole option, the Lender may require the Borrower to pay the principal and interest balance of all Advances then
    outstanding at any time on or after the date that is ten (10) calendar days following the closing of a transaction that reduces the
    voting rights of Borrower in Lender to less than one hundred per cent (100%).
	 	 	 	 
	 	c.	Interest
    Accrual. Interest on the outstanding principal balance under the Advances shall accrue at six percent (6%) per annum. All computations
    of such interest shall be based on a year of 365 days and actual days elapsed for each day on which any principal balance is outstanding
    under the terms of the Loan Agreement.
	 	 	 
	 	d.	Interest
    Payments. All accrued and unpaid interest hereunder shall be credited to an inter-company balance account. If not paid earlier,
    all outstanding accrued interest hereunder shall be due and payable to the Lender on the Termination Date.
	 	 	 
	 	e.	Other
    Payment Terms.
	 	 	 
	 	 	i.	Manner.
    Borrower shall make all payments due to Lender hereunder in lawful money of the United States.
	 	 	 	 
	 	 	ii.	Date.
    Whenever any payment due hereunder shall fall due on a day other than a Business Day, such payment shall be made on the next succeeding
    Business Day, and such extension of time shall be included in the computation of interest or fees, as the case may be.
	 	 	 	 
	 	 	iii.	Default
    Rate. From and after the occurrence of an Event of Default and during the continuance thereof, Borrower shall pay interest on
    all Obligations not paid when due, from the date due thereof until such amounts are paid in full at a per annum rate equal to the
    three (3) percentage points in excess of the rate otherwise applicable to Advances. All computations of such interest shall be based
    on a year of 365 days and actual days elapsed.
	 	 	 	 
	 	f.	Loan
    Account. The Obligations of Borrower to Lender hereunder shall be evidenced by one or more accounts or records maintained by
    Lender in the ordinary course of business. The accounts or records maintained by Lender shall be presumptive evidence of the amount
    of such Obligations, and the interest and principal payments thereon. Any failure to record or any error in so doing shall not, however,
    limit, increase or otherwise affect the obligation of Borrower hereunder to pay any amount owning hereunder. Upon Lender’s
    request, Borrower shall execute a promissory note in favor of Lender.

 

    	3

     

    

 

	3.	REPRESENTATIONS
    AND WARRANTIES OF BORROWER. To induce Lender to enter into this Loan Agreement and to make Advances hereunder, Borrower represents
    and warrants to Lender as follows:
	 	 	 
	 	a.	Due
    Incorporation, etc. Borrower is a corporation duly organized, validly existing and in good standing under the laws of its state
    of incorporation.
	 	 	 
	 	b.	Authority.
    The execution, delivery and performance by Borrower of each Loan Document to be executed by Borrower and the consummation of the
    transactions contemplated thereby (i) are within the power of Borrower and (ii) have been duly authorized by all necessary actions
    on the part of Borrower.
	 	 	 
	 	c.	Enforceability.
    Each Loan Document executed, or to be executed, by Borrower has been, or will be, duly executed and delivered by Borrower and constitutes,
    or will constitute, a legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms,
    except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’
    rights generally and general principles of equity.
	 	 	 
	4.	CONDITIONS
    TO MAKING ADVANCES. Lender’s obligation to make the initial Advance and each subsequent Advance is subject to the prior satisfaction
    or waiver of all the conditions set forth in this Section 4.
	 	 	 
	 	a.	Principal
    Loan Documents. Borrower shall have duly executed and delivered to Lender: (i) the Loan Agreement; and (ii) such other documents,
    instruments and agreements as lender may reasonably request.
	 	 	 
	 	b.	Representations
    and Warranties Correct. The representations and warranties made by Borrower in Section 3 hereof shall be true and correct as
    of the date on which each Advance is made and after giving effect to the making of the Advance. The submission by Borrower to Lender
    of a request for an Advance shall be deemed to be a certification by the Borrower that as of the date of borrowing, the representations
    and warranties made by Borrower in Section 3 hereof are true and correct.
	 	 	 
	 	c.	No
    Event of Default or Default. No Event of Default or Default has occurred or is continuing.
	 	 	 
	 	d.	Total
    Outstanding Advances. The total aggregate principal amount of outstanding Advances does not exceed the Commitment.
	 	5.	EVENTS
    OF DEFAULT.
	 	 	 
	 	a.	Events
    of Default. The occurrence of any of the following shall constitute an “Event of Default” under this Loan Agreement
    and the Note:
	 	 	 
	 	 	i.	Failure
    to Pay. Borrower shall fail to pay (A) the principal amount of all outstanding Advances on the Termination Date hereunder; (Bi)
    any interest, Obligation or other payment required under the terms of this Loan Agreement or any other Loan Document on the date
    due and such failure shall continue for five (5) Business Days after Borrower’s receipt of Lender ‘s written notice thereof
    to Borrower; or (C) any Indebtedness (excluding Obligations) owed by Borrower to Lender on the date due and such failure shall continue
    for five (5) Business Days after Borrower’s receipt of Lender’s written notice thereof to Borrower.

 

    	4

     

    

 

	 	 	ii.	Breaches
    of Covenants. Borrower shall fail to observe or perform any other covenant, obligation, condition or agreement contained in this
    Loan Agreement or any other Loan Document and (A) such failure shall continue for ten (10) Business Days, or (B) if such failure
    is not curable within such ten (10) Business Day period, but is reasonably capable of cure within thirty (30) Business Days, either
    (1) such failure shall continue for thirty (30) Business Days, or (2) Borrower shall not have commenced a cure in a manner reasonably
    satisfactory to Lender within the initial ten (10) Business Day period; or
	 	 	 	 
	 	 	iii.	Representations
    and Warranties. Any representation, warranty, certificate, or other statement (financial or otherwise) made or furnished by or
    on behalf of Borrower to Lender in writing in connection with any of the loan Documents, or as an inducement to lender to enter into
    this Loan Agreement, shall be false, incorrect, incomplete or misleading in any material respect when made or furnished; or
	 	 	 	 
	 	 	iv.	Voluntary
    Bankruptcy or Insolvency Proceedings. Borrower shall (A) apply for or consent to the appointment of a receiver, trustee, liquidation
    or custodian of itself or of all or a substantial part of its property, (B) be unable, or admit in writing its inability, to pay
    its debts generally as they mature, (C) make a general assignment for the benefit of its or any of its creditors, (D) be dissolved
    or liquidated in full or in part, (E) become insolvent (as such term is defined in 11 U.S.C. Section 101 (32), as amended from time
    to time), (F) commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself
    or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to
    the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against
    it, or (G) take any action for the purpose of effecting any of the foregoing; or
	 	 	 	 
	 	 	v.	Involuntary
    Bankruptcy or Insolvency Proceedings. Proceedings for the appointment of a receiver, trustee, liquidator or custodian of Borrower
    or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization
    or other relief with respect to Borrower or the debts thereof under any bankruptcy, insolvency or other similar law now or hereafter
    in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within sixty
    (60) calendar days of commencement.
	 	 	 	 
	 	b.	Rights
    of Lender upon Default.
	 	 	 	 
	 	 	i.	Acceleration.
    Upon the occurrence or existence of any Event of Default described in Sections 5(a)(iv) and 5(a)(v), automatically and without notice
    or, at the option of Lender, upon the occurrence of any other Event of Default, all outstanding Obligations payable by Borrower hereunder
    shall become immediately due and payable, without presentment, demand, protest or any other notice of any kind, all of which are
    hereby expressly waived, anything contained herein or in the other Loan Documents to the contrary notwithstanding.

 

    	5

     

    

 

	 	 	ii.	Cumulative
    Rights, etc. The rights, powers and remedies of Lender under this Loan Agreement shall be in addition to all rights, powers and
    remedies given to Lender by virtue of any applicable law, rule or regulation of any Governmental Authority, any transaction contemplated
    thereby or any other agreement, all of which rights, powers, and remedies shall be cumulative and may be exercised successively or
    concurrently without impairing Lender’s rights hereunder.
	 	 	 	 
	6.	CHANGE
    IN CONTROL
	 	 	 
	 	a.	Change
    in Control of Borrower. In the event of a Change in Control of Borrower at any point prior to the Termination Date:
	 	 	 
	 	 	i.	Lender’s
    obligation to make Advances to Borrower shall be discharged, effective immediately upon the effective date of the Change of Control;
    and
	 	 	 	 
	 	 	ii.	Unless
    otherwise agreed to by the Parties in writing, all outstanding Obligations of Borrower must be paid back in full within twelve (12)
    months of the effective date of the Change of Control.
	 	 	 	 
	7.	TERMINATION
    OF FIRST LOAN AGREEMENT.
	 	 	 	 
	 	a.	Amount
    Owed. As of the effective Date of this Loan Agreement, the total amount owed (principal and interest) by Borrower to Lender under
    the Fist Loan Agreement is $0.00, with all outstanding amounts owed having been satisfied pursuant to the Debt Conversion Agreement
    and no new debt incurred by Borrower between the effective dates of the Debt Conversion Agreement and this Loan Agreement.
	 	 	 
	 	b.	Termination.
    The parties agree that upon effective Date of this Loan Agreement, the Fist Loan Agreement shall be terminated in its entirety, and
    that this Loan Agreement shall represent the only active revolving loan agreement between the Parties.
	 	 	 	 
	8.	MISCELLANEOUS.
	 	 	 	 
	 	a.	Notices.
    Except as otherwise provided herein, all notices, requests, demands, consents, instructions or other communications to or upon Lender
    or Borrower under this Agreement or the other Loan Documents shall be in writing and telecopied, mailed or delivered to each party
    at its telecopier number or address set forth below (or to such other telecopier number or address for any party as indicated in
    any notice given by that party to the other party). All such notices and communications shall be effective (i) when sent by Federal
    Express or other overnight service of recognized standing, on the Business Day following the deposit with such service; (ii) when
    mailed by registered or certified mail, first class postage prepaid and addressed as aforesaid through the United States or German
    Postal Service, upon receipt; (iii) when delivered by hand, upon delivery; and (iv) when telecopied, upon confirmation of receipt;
    provided, however, that any notice delivered to Lender under Section 2 shall not be effective until received by Lender.

 

    	6

     

    

 

	 	 	LENDER:	Biofrontera
    AG
	 	 	 	Hemmelrather
    Weg 201
	 	 	 	51377
    Leverkusen Germany
	 	 	 	Attention:
    Andrea Piotraschke
	 	 	 	 
	 	 	BORROWER:
    	Biofrontera
    Inc.
	 	 	 	120
    Presidential Way, Suite 330
	 	 	 	Woburn,
    MA 01801
	 	 	 	Attention:
    Erica Monaco

 

	 	b.	Waivers;
    Amendments. Any term, covenant, agreement or condition of this Loan Agreement or any other Loan Document may be amended or waived
    if such amendment or waiver is in writing and is signed by Borrower and Lender. No failure or delay by Lender in exercising any right
    hereunder shall operate as a waiver thereof or of any other right nor shall any single or partial exercise of any such right preclude
    any other further exercise thereof or of any other right. A waiver or consent given hereunder shall be effective only if in writing
    and in the specific instance and for the specific purpose for which given.
	 	 	 
	 	c.	Successors
    and Assigns. This Loan Agreement and the other Loan Documents shall be binding upon and inure to the benefit of Borrower, Lender
    and their respective successors and permitted assigns, except that Borrower may not assign or transfer (and any such attempted assignment
    or transfer shall be void) any of its rights or obligations under any Loan Document without the prior written consent of Lender.
	 	 	 
	 	d.	Term
    and Termination. This Loan Agreement shall remain in full force unless terminated by either party on the Termination Date by
    giving written notice to the other party no later than 30 Business days prior to such Termination Date. Thereafter it may be terminated
    by either party by giving 30 days advance written notice, such notice to be provided in written form.
	 	 	 
	 	e.	Set-off.
    In addition to any rights and remedies of Lender provided by law, Lender shall have the right, without prior notice to Borrower,
    any such notice being expressly waived by Borrower to the extent permitted by applicable law, upon the occurrence and during the
    continuance of a Default or an Event of Default, to set-off and apply against any Indebtedness, whether matured or unmatured, of
    Borrower to Lender (including, without limitation, the Obligations), any amount owing from Lender to Borrower. The aforesaid right
    of set-off may be exercised by Lender against Borrower or against any trustee in bankruptcy, debtor-in-possession, assignee for the
    benefit of creditors, receiver or execution, judgment or attachment creditor of Borrower or against anyone else claiming through
    or against Borrower or such trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, receiver, or execution,
    judgment or attachment creditor, notwithstanding the fact that such right of set-off shall not have been exercised by Lender prior
    to the occurrence of a Default or an Event of Default. Lender agrees promptly to notify Borrower after any such set-off and application
    made by Lender, provided that the failure to give such notice shall not affect the validity of such set-off and application.
	 	 	 
	 	f.	No
    Third-Party Rights. Nothing expressed in or to be implied from this Agreement or any other Loan Document is intended to give,
    or shall be construed to give, any Person, other than the parties hereto and thereto and their permitted successors and assigns,
    any benefit or legal or equitable right, remedy or claim under or by virtue of this Agreement or any other Loan Document.

 

    	7

     

    

 

	 	g.	Partial
    Invalidity. If at any time any provision of this Loan Agreement or any of the Loan Documents is or becomes illegal, invalid or
    unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining
    provisions of the Loan Agreement or such other Loan Documents, nor the legality, validity or enforceability of such provision under
    the law of any other jurisdiction, shall in any way be affected or impaired thereby.
	 	 	 
	 	h.	Governing
    Law. This Loan Agreement and each of the other Loan Documents shall be governed by and construed in accordance with the laws
    of Germany without reference to conflicts of law rules.
	 	 	 
	 	i.	Construction.
    Each of this Loan Agreement and the other Loan Documents is the result of negotiations among, and has been reviewed by, Borrower
    and Lender. Accordingly, this Loan Agreement and the other Loan Documents shall be deemed to be the product of all parties hereto,
    and no ambiguity shall be construed in favor of or against Borrower or Lender.
	 	 	 
	 	j.	Counterparts.
    This Agreement may be executed by facsimile signature and in one or more counterparts, all of which shall be considered one and the
    same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to
    the other parties.
	 	 	 
	 	k.	Entire
    Agreement. This Loan Agreement and the other Loan Documents, taken together, constitute and contain the entire agreement of Borrower
    and Lender with respect to the subject matter hereby and supersede any and all prior agreements, negotiations, correspondence, understandings
    and communications among the parties, whether written or oral, respecting the subject matter hereof.

 

[Remainder
of page intentionally left blank; Signature page follows]

 

    	8

     

    

 

IN
WITNESS WHEREOF, the Parties have executed and delivered this Agreement with the intent that it is effective as of the date first
written above.

 

	BORROWER	 
	Biofrontera,
    Inc.	 
	 	 	 
	By:
    	/s/
    Erica L. Monaco	 
	Name:
    	Erica
    Monaco	 
	Title:
    	Chief
    Financial Officer	 
	 	 	 
	By:
    	/s/
    Christopher Pearson	 
	Name:
    	Christopher
    Pearson	 
	Title:
    	Chief
    Commercial Officer	 
	 	 	 
	LENDER	 
	Biofrontera
    AG	 
	 	 	 
	By:
    	/s/
    Hermann Lübbert	 
	Name:
    	Hermann
    Lübbert	 
	Title:
    	Chief
    Executive Officer	 
	 	 	 
	By:
    	/s/
    Ludwig Lutter	 
	Name:
    	Ludwig
    Lutter	 
	Title:
    	Chief
    Financial Officer	 

 

    	9Exhibit
10.8

 

Biofrontera,
Inc.

Master
Contract Services Agreement 

 

MASTER
CONTRACT SERVICES AGREEMENT

 

THIS
MASTER CONTRACT SERVICES AGREEMENT (together with any Statement(s) of Work, the “Agreement”) is made as of July 2,
2021 (the “Effective Date”) by and between Biofrontera, Inc., a company with an office at 120 Presidential Way, Suite
330, Woburn, MA 01801 (“COMPANY”) and Biofrontera AG, a German corporation with a principal office at Hemmelrather Weg 201,
51377 Leverkusen, together with its wholly owned subsidiaries Biofrontera Pharma GmbH, a German company with a principal office at Hemmelrather
Weg 201, 51377 Leverkusen, and Biofrontera Bioscience GmbH, a German company with a principal office at Hemmelrather Weg 201, 51377 Leverkusen
(collectively, the “Service Provider”). Throughout this Agreement, COMPANY and Service Provider may be referred to as a “Party”
or collectively as the “Parties.”

 

RECITALS

 

WHEREAS,
the Parties previously entered into a certain “Intercompany Services Agreement” dated January 2, 2016 by which Service Provider
agreed to provide certain services to COMPANY, and COMPANY agreed to pay certain fees in consideration of those services;

 

WHEREAS,
despite the expiration of the Intercompany Services Agreement on December 31, 2018, the Parties continued to acknowledge and abide by
the terms of the Intercompany Services Agreement beyond its expiration, and in doing do, expressed a mutual consent to extend the effective
life of the Intercompany Services Agreement indefinitely; 

 

WHEREAS,
the Parties have also engaged in a certain License and Supply Agreement dated October 1, 2016, as amended thereafter (most recently on
June 16, 2021) (collectively, the “LSA”), as well as a certain Quality Assurance Agreement effective November 1, 2016 (the
“QAA”); and

 

WHEREAS,
the Parties now, as of the Effective Date, wish to enter this Agreement as the sole agreement between the Parties regarding Service Provider’s
offering of services to COMPANY. 

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as
follows:

 

AGREEMENT

 

		1.	Agreement
                                            Structure. From time to time, COMPANY may want the Service Provider to provide certain
                                            consulting, preclinical, laboratory and/or clinical research-related services (the “Services”).
                                            This Agreement contains general terms and conditions under which COMPANY would engage the
                                            Service Provider and under which the Service Provider would provide Services. COMPANY and
                                            the Service Provider must complete and execute a work order, project order or statement of
                                            work (“Statement of Work”) before any Services are provided. Each Statement of
                                            Work will include, at a minimum, the information relating to the specific Services outlined
                                            in the sample Statement of Work attached as Appendix A. However, neither COMPANY nor
                                            the Service Provider is obligated to execute any Statement of Work. Once executed, a Statement
                                            of Work becomes part of this Agreement, although the terms in a Statement of Work will govern
                                            only Services described in that Statement of Work. A Statement of Work may not change any
                                            term in this Agreement.

 

		2.	About
                                            the Services. 

 

	 	2.1.	Provision
                                            of Services. The Service Provider agrees to provide all Services identified in any Statement
                                            of Work: (a) promptly; (b) at such times and at such places as COMPANY may reasonably request;
                                            (c) within the time period specified in the relevant Statement of Work, and (d) in accordance
                                            with the highest prevailing industry standards and practices for the performance of similar
                                            services. For each Statement of Work, Service Provider will designate a “Project Leader”
                                            who will be available for frequent communications with COMPANY regarding the Services provided
                                            under that Statement of Work. COMPANY will designate a “Representative” who will
                                            be the point of contact for the Project Leader.

 

    	Page 1	of 12

    	Biofrontera, Inc. – Biofrontra AG
Master Contract Services Agreement

    

 

		2.2.	Transfer
                                            of Obligations. As applicable, with regard to clinical Services performed hereunder,
                                            Service Provider will be responsible for the obligations transferred by COMPANY to Service
                                            Provider in Service Provider’s role as the designated contract research organization
                                            and as described in a document titled “The Transfer of Obligations of Client Under
                                            21 CFR Subpart D,” which will be included in a Statement of Work where appropriate.
                                            Any transfer of obligations will be construed as a transfer of those obligations described
                                            therein in accordance with 21 CFR §312.52.

 

		2.3.	Audits.
                                            After reasonable notice by COMPANY to Service Provider, Service Provider will allow COMPANY
                                            employees and representatives, and representatives of regulatory agencies, during normal
                                            business hours, to review Service Provider’s standard operating procedures and records,
                                            including financial records, pertaining to the Services and to inspect the facilities used
                                            to render the Services under the applicable Statement of Work. In addition, the Project Leader
                                            and Representative and their designees shall participate in meetings to review performance
                                            of the Services and to coordinate such Services as necessary. The Representative shall have
                                            access at reasonable times to observe the Services in progress or review any and all records
                                            generated as a result of Service Provider’s performance of the Services.

 

		2.4.	Data
                                            Verification and Reports. Unless otherwise provided in the applicable Statement of Work,
                                            a copy of all raw data, databases and analytical reports of the data will be provided to
                                            COMPANY in a format mutually agreed upon by COMPANY and Service Provider. At a minimum, a
                                            paper copy of the final work product will be provided along with electronic copies in an
                                            editable and non-editable (pdf) format. Service Provider will verify the accuracy of the
                                            data contained in all databases and/or reports provided by it against the raw data and will
                                            attach a signed statement attesting to such verification to each database and/or report provided
                                            to COMPANY. As per COMPANY’s requirements, Service Provider will ensure that the database
                                            format is compatible with relevant existing databases of COMPANY.

 

		2.5.	Standard
                                            Operating Procedures. Service Provider will, upon request and under confidentiality,
                                            supply copies to COMPANY of all standard operating procedures of Service Provider relevant
                                            to the Services under a Statement of Work.

 

		2.6.	Regulatory
                                            Contacts. Unless specified otherwise in an SOW by which COMPANY delegates such responsibilities
                                            to Service Provider, COMPANY will be solely responsible for all contacts and communications
                                            with any regulatory authorities with respect to matters relating to any of the Services.
                                            Unless required by applicable law or written agreement with COMPANY, Service Provider will
                                            have no contact or communication with any regulatory authority regarding any Services without
                                            the prior written consent of COMPANY, which consent will not be unreasonably withheld. Except
                                            when duly authorized to engage in such communications, Service Provider will notify COMPANY
                                            immediately, and in no event later than one (1) day, after Service Provider receives any
                                            contact or communication from any regulatory authority relating in any way to the Services
                                            and will provide COMPANY with copies of any such communication within one (1) day of receipt
                                            of such communication by Service Provider. Service Provider will consult with COMPANY regarding
                                            the response to any inquiry or observation from any regulatory authority relating in any
                                            way to the Services and will allow COMPANY at its discretion to control and/or participate
                                            in any further contacts or communications relating to the Services. Service Provider will
                                            comply with all reasonable requests and comments by COMPANY with respect to all contacts
                                            and communications with any regulatory authority relating in any way to the Services.

 

Notwithstanding
the forgoing in this Section 2.6, nothing in this Agreement shall be construed as prohibiting Service Provider from fulfilling its obligations
under the LSA or Quality Assurance Agreements.

 

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		2.7.	Subcontracting.
                                            With COMPANY’s prior written consent, Service Provider may subcontract the performance
                                            of certain of its obligations under a specific Statement of Work to qualified third parties,
                                            provided that (a) Service Provider notifies COMPANY of the proposed subcontractor and identifies
                                            the specific Services to be performed by the subcontractor, (b) the subcontractor performs
                                            those Services in a manner consistent with the terms and conditions of this Agreement, and
                                            (c) Service Provider remains liable for the performance of the subcontractor.

 

		3.	Representations
                                            by Service Provider. The Service Provider makes the following representations and warranties
                                            and agrees to notify COMPANY immediately upon any future breach of these representations
                                            and warranties:

 

		3.1.	Organization
                                            of Service Provider. Service Provider is and will remain a corporation duly organized,
                                            validly existing and in good standing under the laws of its jurisdiction of organization.

 

		3.2.	Enforceability
                                            of this Agreement. The execution and delivery of this Agreement has been authorized by
                                            all requisite corporate action. This Agreement is and will remain a valid and binding obligation
                                            of Service Provider, enforceable in accordance with its terms, subject to laws of general
                                            application relating to bankruptcy, insolvency and the relief of debtors.

 

		3.3.	Absence
                                            of Other Contractual Restrictions. Service Provider is under no contractual or other
                                            obligation or restriction that is inconsistent with Service Provider’s execution or
                                            performance of this Agreement. Service Provider will not enter into any agreement, either
                                            written or oral, that would conflict with Service Provider’s responsibilities under
                                            a Statement of Work.

 

		3.4.	Qualifications
                                            of Service Provider Personnel. Service Provider has, and will engage, employees, subcontractors
                                            and/or consultants (“Service Provider Personnel”) with the proper skill, training
                                            and experience to provide the Services. Service Provider will be solely responsible for paying
                                            Service Provider Personnel and providing any employee or other benefits that they are owed.
                                            Before providing Services, all Service Provider Personnel must have agreed in writing to
                                            (a) confidentiality obligations consistent with the terms of this Agreement, and (b) assign
                                            and otherwise effectively vest in Service Provider any and all rights that such personnel
                                            might otherwise have in the results of their work.

 

		3.5.	Legal
                                            Compliance. Service Provider will comply, in all material respects, with all federal
                                            and state laws, regulations and orders applicable to its operations, including but not limited
                                            to the federal anti-kickback statute, set forth at 42 U.S.C § 1320a-7b(b) (“Anti-Kickback
                                            Statute”), the federal “Stark Law,” set forth at 42 U.S.C § 1395nn,
                                            the Public Contracts Anti-Kickback Law, and §6002 of the Affordable Care Act of 2010
                                            (the “Sunshine Act”) and other similar laws, with respect to the performance
                                            of its obligations under this Agreement. If specified in a Statement of Work, Services will
                                            be rendered in accordance with applicable Good Laboratory Practices (GLP) and/or Good Clinical
                                            Practices (GCP). In addition, Service Provider will comply with all reasonable and applicable
                                            COMPANY guidelines, such as standard operating procedures, that COMPANY provides in writing.

 

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		3.6.	Conflicts
                                            with Rights of Third Parties. The conduct and provision of the Services will not violate
                                            any patent, trade secret or other proprietary or intellectual property right of any third
                                            party.

 

		3.7.	Absence
                                            of Debarment.

 

		(a)	Service
                                            Provider hereby represents, warrants, and certifies that it has not been and will not be
                                            debarred under Section 306 of the Federal Food, Drug and Cosmetic Act, 21 U.S.C §335a(a)
                                            or (b), or similar local law. In the event that Service Provider becomes debarred, Service
                                            Provider agrees to notify COMPANY immediately.

 

		(b)	Service
                                            Provider hereby represents, warrants, and certifies that it has not and will not use in any
                                            capacity the services of any individual, corporation, partnership, or association (including
                                            without limitation any Service Provider Personnel) which has been debarred under Section
                                            306 of the Federal Food, Drug and Cosmetic Act, 21 U.S.C §335a(a) or (b), or similar
                                            local law. In the event that Service Provider becomes aware of or receives notice of the
                                            debarment of any individual, corporation, partnership, or association (including without
                                            limitation Service Provider Personnel) providing services to Service Provider, which relate
                                            to the Services being provided under this Agreement, Service Provider agrees to notify COMPANY
                                            immediately.

 

		4.	Compensation.
                                            As full consideration for the Services, COMPANY will pay Service Provider in accordance
                                            with the applicable Statement of Work. The compensation for Services rendered under each
                                            Statement of Work shall be based on the fee structure set forth in the Statement of Work.
                                            Service Provider will invoice COMPANY for all amounts due under a Statement of Work. All
                                            undisputed payments will be made by COMPANY within thirty (30) days of its receipt of an
                                            invoice. In the event that the Services provided under a Statement of Work do not meet the
                                            specifications agreed to by Service Provider and COMPANY, Service Provider will, at COMPANY’s
                                            option, either (a) reperform, at its cost, the Services which do not meet the specifications,
                                            or (b) refund to COMPANY all amounts paid by COMPANY to Service Provider in connection with
                                            those Services.

 

		5.	Proprietary
                                            Rights. 

 

		5.1.	Materials.
                                            All documentation, information, and biological, chemical or other materials (collectively,
                                            the “Materials”) controlled by either Party and furnished to the other Party
                                            (respectively, the “Disclosing Party” and the “Receiving Party”)
                                            and all associated intellectual property rights will remain the exclusive property of the
                                            Disclosing Party. The Receiving Party will use Materials provided by the Disclosing Party
                                            only as necessary to perform the Services. The Receiving Party agrees that it shall not use
                                            or evaluate such Materials or any portions thereof for any purpose other than to fulfill
                                            its obligations under this Agreement. Without Disclosing Party’s express written consent
                                            first obtained, the Receiving Party agrees that it shall not have such Materials analyzed,
                                            or make the Materials available to third parties.

 

		5.2.	Deliverables.
                                            Service Provider agrees to assign and hereby assigns to COMPANY all rights to information,
                                            data, documentation, reports, works of authorship, discoveries, improvements, inventions
                                            and other products arising from or made in the performance of the Services (the “Deliverables”).
                                            All work products resulting from the Services that are “Works Made for Hire”
                                            as defined in the U.S. Copyright Act and other copyrightable works will be deemed, upon creation,
                                            to be assigned to COMPANY. COMPANY will be free to use Deliverables for any and all purposes.
                                            Service Provider will retain ownership of any pre-existing products, materials, tools, methodologies,
                                            technologies or intellectual property rights of Service Provider embodied in the Deliverables
                                            or to any improvements made to these items as a result of rendering the Services (“Service
                                            Provider Technology”). Service Provider agrees not to incorporate any Service Provider
                                            Technology into Deliverables that would prevent COMPANY from using Deliverables for any and
                                            all purposes. In the event that Deliverables incorporate any Service Provider Technology,
                                            Service Provider will grant COMPANY a royalty-free, non-exclusive license to said Service
                                            Provider Technology for COMPANY’s use of Deliverables.

 

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		5.3.	Work
                                            at Third Party Facilities. Service Provider will not transfer Materials or use any third-party
                                            facilities or COMPANY intellectual property in performing the Services without COMPANY’s
                                            prior written consent.

 

		5.4.	Records;
                                            Records Storage. Service Provider will maintain all materials and all other data and
                                            documentation obtained or generated by Service Provider in the course of preparing for and
                                            providing Services hereunder, including all computerized records and files (the “Records”)
                                            in a secure area reasonably protected from fire, theft and destruction. These Records will
                                            be “Works Made for Hire” under United States copyright law and will remain the
                                            exclusive property of COMPANY.

 

		5.5.	Record
                                            Retention. Upon written instruction of COMPANY, all Records will, at COMPANY’s
                                            option either be (a) delivered to COMPANY or to its designee in such form as is then currently
                                            in the possession of Service Provider, (b) retained by Service Provider for a period of five
                                            (5) years, or as otherwise required under applicable law or regulation, or (c) disposed of,
                                            at the direction and written request of COMPANY, unless such Records are otherwise required
                                            to be stored or maintained by Service Provider as a matter of law or regulation. In no event
                                            will Service Provider dispose of any such Records without first giving COMPANY sixty (60)
                                            days’ prior written notice of its intent to do so. Service Provider may, however, retain
                                            copies of any Records as is reasonably necessary for regulatory or insurance purposes, subject
                                            to Service Provider’s obligation of confidentiality. 

 

		5.6.	Conformance
                                            with LSA. For the avoidance of doubt, and consistent with Section 9.5 of this Agreement,
                                            nothing in this Section 5 shall be construed as superseding or otherwise impacting the Parties
                                            respective rights to intellectual property under the LSA, including but not limited to the
                                            “Pharma IP” as defined by Section 1.3 of the LSA. In the event of a conflict
                                            between this Section 5 and any section of the LSA, the LSA shall prevail.

 

		6.	Confidential
                                            Information. 

 

		6.1.	Definitions.
                                            The term “COMPANY Confidential Information” includes all non-public information
                                            that COMPANY considers confidential or proprietary, including the Materials and Deliverables,
                                            whether or not labeled “Confidential.” However, the term “Confidential
                                            Information” does not include information that (a) is known to Service Provider at
                                            the Effective Date and is not subject to another confidentiality obligation to COMPANY as
                                            reasonably documented by its written records, (b) is publicly known at the Effective Date
                                            or later becomes publicly known under circumstances involving no breach of this Agreement,
                                            (c) is lawfully and in good faith disclosed to Service Provider by a third party who is not
                                            subject to a confidentiality obligation to COMPANY, or (d) is independently developed by
                                            Service Provider without any reference to Confidential Information as reasonably documented
                                            by its written records.

 

The
term “Service Provider Confidential Information” includes all non-public information that Service Provider considers confidential
or proprietary, whether or not labeled “Confidential.” However, the term “Confidential Information” does not
include information that (a) is known to COMPANY at the Effective Date and is not subject to another confidentiality obligation to Service
Provider as reasonably documented by its written records, (b) is publicly known at the Effective Date or later becomes publicly known
under circumstances involving no breach of this Agreement, (c) is lawfully and in good faith disclosed to COMPANY by a third party who
is not subject to a confidentiality obligation to Service Provider, or (d) is independently developed by COMPANY without any reference
to Confidential Information as reasonably documented by its written records.

 

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The
term “Confidential Information” shall collectively refer to COMPANY Confidential Information and Service Provider Confidential
Information.

 

		6.2.	Confidentiality
                                            Obligations. Service Provider acknowledges that COMPANY is and will remain the sole owner
                                            of COMPANY Confidential Information. Service Provider will take all commercially reasonable
                                            precautions to protect the confidentiality of COMPANY Confidential Information, and will
                                            not disclose any COMPANY Confidential Information except with COMPANY’s prior written
                                            consent and will use COMPANY Confidential Information only as necessary to perform the Services.
                                            Service Provider may disclose COMPANY Confidential Information to Service Provider Personnel
                                            who need to know such COMPANY Confidential Information in order to provide the Services and
                                            who are obligated to protect the confidentiality of such COMPANY Confidential Information
                                            under terms at least as stringent as those set forth in this Section 6. If required by law,
                                            Service Provider may disclose COMPANY Confidential Information to a governmental authority,
                                            provided that reasonable advance notice is given to COMPANY and Service Provider reasonably
                                            cooperates with COMPANY to obtain confidentiality protection of such information.

 

COMPANY
acknowledges that Service Provider is and will remain the sole owner of Service Provider Confidential Information. COMPANY will take
all commercially reasonable precautions to protect the confidentiality of Service Provider Confidential Information, and will not disclose
any Service Provider Confidential Information except with Service Provider’s prior written consent. If required by law, COMPANY
may disclose Service Provider Confidential Information to a governmental authority, provided that reasonable advance notice is given
to Service Provider and COMPANY reasonably cooperates with Service Provider to obtain confidentiality protection of such information.

 

		6.3.	Irreparable
                                            Injury. The Parties agree that money damages would not be a sufficient remedy for any
                                            breach of the confidentiality obligations hereunder and that, in addition to all other remedies,
                                            the aggrieved Party will be entitled to seek injunctive or other equitable relief as a remedy
                                            for any such breach. The breaching Party will notify other Party in writing immediately upon
                                            the occurrence of any unauthorized release of Confidential Information or other breach of
                                            the confidentiality obligations hereunder of which it is or becomes aware.

 

		7.	Indemnification
                                            and Insurance.

 

		7.1.	Indemnification
                                            by Service Provider. Service Provider agrees to indemnify COMPANY for any third party
                                            claims, including reasonable attorneys’ fees for defending those claims, arising out
                                            of Service Provider’s (a) performance of the Services, (b) negligence or willful misconduct,
                                            or (c) breach of this Agreement, except to the extent such claims result from COMPANY’s
                                            negligence, willful misconduct or breach of this Agreement. As a condition of this indemnification
                                            obligation, COMPANY must promptly notify Service Provider of a covered claim, must tender
                                            to Service Provider (and/or its insurer) full authority to defend or settle the claim, and
                                            must reasonably cooperate with the defense.

 

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		7.2.	Indemnification
                                            by COMPANY. COMPANY agrees to indemnify Service Provider for any third party claims,
                                            including reasonable attorneys’ fees for defending those claims, arising out of (a)
                                            COMPANY’s use of the Deliverables, (b) COMPANY’s negligence or willful misconduct
                                            in connection with this Agreement or (c) COMPANY’s breach of this Agreement, except
                                            to the extent such claims result from Service Provider’s negligence, willful misconduct
                                            or breach of this Agreement. As a condition of this indemnification obligation, Service Provider
                                            must promptly notify COMPANY of a covered claim, must tender to COMPANY (and/or its insurer)
                                            full authority to defend or settle the claim, and must reasonably cooperate with the defense.

 

		7.3.	Insurance.
                                            During the Term of the Agreement, Service Provider will maintain insurance coverage with
                                            financially sound and nationally reputable insurers against such losses and risks and in
                                            such amounts reasonably judged as being prudent and customary in the businesses in which
                                            Service Provider is engaged. Upon the request of COMPANY, Service Provider will provide COMPANY
                                            with a Certificate of Insurance evidencing such coverage and will providing thirty (30) days
                                            advance written notice to COMPANY of any material change or cancellation in coverage or limits.

 

		8.	Expiration
                                            and Termination. 

 

		8.1.	Expiration.
                                            This Agreement will expire on the later of (a) three (3) years from the Effective Date
                                            or (b) the completion of all Services under the last Statement of Work executed by the parties
                                            prior to the second anniversary of the Effective Date. The Agreement may be extended by mutual
                                            agreement of the parties or earlier terminated in accordance with Section 8.2 or 8.3 below.

 

		8.2.	Termination
                                            by COMPANY. Unless agreed upon otherwise in a SOW, COMPANY may immediately terminate
                                            this Agreement at any time upon written notice to Service Provider in the event of a breach
                                            of this Agreement by Service Provider which cannot be cured (e.g. breach of the confidentiality
                                            obligations). Further, COMPANY may terminate this Agreement or any Statement of Work at any
                                            time upon thirty (30) days’ prior written notice to Service Provider.

 

		8.3.	Termination
                                            by Service Provider. Unless agreed upon otherwise in a SOW, Service Provider may terminate
                                            this Agreement or any Statement of Work upon one hundred and twenty (120) days’ prior
                                            written notice to COMPANY if COMPANY breaches this Agreement or any Statement of Work and
                                            fails to cure the breach during the notice period. Further, following the expiration of the
                                            initial three (3) year Term of this Agreement, Service Provider may terminate this Agreement
                                            or any Statement of Work at any time upon one hundred and twenty (120) days’ prior
                                            written notice to COMPANY.

 

		8.4.	Effect
                                            of Termination or Expiration. Upon termination or expiration of this Agreement, neither
                                            Service Provider nor COMPANY will have any further obligations under this Agreement, or in
                                            the case of termination or expiration of a Statement of Work, under that Statement of Work,
                                            except that:

 

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		(a)	Service
                                            Provider will terminate all Services in progress in an orderly manner as soon as practical
                                            and in accordance with a schedule agreed to by COMPANY, unless COMPANY specifies in the notice
                                            of termination that Services in progress should be completed;

 

		(b)	Service
                                            Provider will deliver to COMPANY or, at COMPANY’s option, dispose of, any Materials
                                            in its possession or control and all Deliverables developed through termination or expiration,

 

		(c)	COMPANY
                                            will pay Service Provider any monies due and owing Service Provider, up to the time of termination
                                            or expiration, for Services actually performed and all authorized expenses actually incurred
                                            (as specified in the applicable Statement of Work),

 

		(d)	Service
                                            Provider will promptly refund any monies paid in advance by COMPANY for Services not rendered;

 

		(e)	Service
                                            Provider will promptly return to COMPANY all Confidential Information and copies thereof
                                            provided to Service Provider under this Agreement or under any Statement of Work which has
                                            been terminated or has expired, except for one (1) copy which Service Provider may retain
                                            in its confidential files solely to monitor Service Provider’s surviving obligations
                                            of confidentiality; and

 

		(f)	The
                                            terms, conditions and obligations under Sections 2.3, 2.6, 3, 5, 6, 7, 8.4 and 9 will survive
                                            any such termination or expiration.

 

		9.	Miscellaneous.

 

		9.1.	Independent
                                            Contractor. All Services will be rendered by Service Provider as an independent contractor
                                            and this Agreement does not create an employer-employee relationship between COMPANY and
                                            Service Provider. Service Provider shall not in any way represent itself to be a partner
                                            or joint venturer of or with COMPANY.

 

		9.2.	Publicity.
                                            Neither party may use the other party’s name in any form of advertising, promotion
                                            or publicity, including press releases, without the prior written consent of the other party.
                                            This term does not restrict a party’s ability to use the other party’s name in
                                            filings with the Securities and Exchange Commission, the Food and Drug Administration, any
                                            patent office, or other governmental or regulatory agencies, when required to do so.

 

		9.3.	Notices.
                                            All notices required or permitted under this Agreement must be written and sent to the address
                                            or facsimile number identified in this Agreement or a subsequent notice. All notices must
                                            be given (a) by personal delivery, with receipt acknowledged, (b) by facsimile followed by
                                            hard copy delivered by the methods under (c) or (d), (c) by prepaid certified or registered
                                            mail, return receipt requested, or (d) by prepaid recognized next business day delivery service.
                                            Notices will be effective upon receipt or as stated in the notice. Notices to COMPANY must
                                            be marked “Attention: Corporate Counsel”. Notices to Service Provider must be
                                            marked “Attention: ________________”.

 

		9.4.	Assignment.
                                            This Agreement may not be assigned by either Party without the prior written consent
                                            of the other Party, and any attempted assignment not in compliance with the foregoing will
                                            be of no force or effect. No assignment will relieve either party of the performance of any
                                            accrued obligation that such party may then have under this Agreement.

 

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		9.5.	Entire
                                            Agreement and Consistency with LSA and QAA. This Agreement is intended to be consistent
                                            with the Parties obligations duly agreed to under the LSA and QAA. In the event that any
                                            terms within this Agreement i) conflicts with a term of the LSA or QAA, or ii) could be construed
                                            in any way as prohibiting COMPANY or Service Provider from meeting their obligations under
                                            the LSA or QAA, then the term of the LSA or QAA shall prevail.

 

With
the exception of the LSA and QAA (as noted above), this Agreement constitutes the entire agreement of the parties with regard to its
subject matter, and supersedes all previous written or oral representations, agreements and understandings between COMPANY and Service
Provider. This includes but is not limited to the Intercompany Services Agreement referenced in the recitals to this Agreement. In the
event of any conflict, discrepancy, or inconsistency between this Agreement and any Statement of Work, the terms of this Agreement will
control.

 

		9.6.	Force
                                            Majuere. Each party hereto shall be excused from performing its obligations under this
                                            Agreement if its performance is delayed or prevented by any event beyond such party’s
                                            reasonable control and without its fault or negligence, including, but not limited to, acts
                                            of God, acts of the public enemy, insurrections, riots, embargoes, labor disputes, including
                                            strikes, lockouts, job actions, or boycotts, fires, explosions or floods, provided that such
                                            performance shall be excused only to the extent of and during the reasonable continuance
                                            of the effect of such force majeure. Any time specified for completion or performance in
                                            the applicable work order, study order or statement of work falling due during or subsequent
                                            to the occurrence of any such events shall be automatically extended accordingly.
	 	 	 

		9.7.	No
                                            Modification. This Agreement and/or any Statement of Work may be changed only by a writing
                                            signed by authorized representatives of both parties.

 

		9.8.	Severability;
                                            Reformation. Each and every provision set forth in this Agreement is independent and
                                            severable from the others, and no restriction will be rendered unenforceable by virtue of
                                            the fact that, for any reason, any other or others of them may be invalid or unenforceable
                                            in whole or in part. If any provision of this Agreement is invalid or unenforceable for any
                                            reason whatsoever, that provision will be appropriately limited and reformed to the maximum
                                            extent provided by applicable law. If the scope of any restriction contained herein is too
                                            broad to permit enforcement to its full extent, then such restriction will be enforced to
                                            the maximum extent permitted by law so as to be judged reasonable and enforceable.

 

		9.9.	Governing
                                            Law. This Agreement will be construed and interpreted and its performance governed by
                                            the laws of the Commonwealth of Massachusetts, without giving effect to the principles thereof
                                            relating to the conflict of laws and excluding the 1980 United Nations Convention on Contracts
                                            for the International Sale of Goods.

 

		9.10.	Waiver.
                                            No waiver of any term, provision or condition of this Agreement (whether by conduct or
                                            otherwise) in any one or more instances will be deemed to be or construed as a further or
                                            continuing waiver of any such term, provision or condition of this Agreement.

 

		9.11.	Counterparts.
                                            This Agreement may be executed in any number of counterparts, each of which will be deemed
                                            to be an original and all of which together will constitute one and the same instrument.

 

		9.12.	Headings.
                                            This Agreement contains headings only for convenience and the headings do not constitute
                                            or form a part of this Agreement, and should not be used in the construction of this Agreement.

 

[Remainder
of page intentionally left blank; Signature page follows]

 

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IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized representatives as of the Effective
Date.

 

	BIOFRONTERA,
    INC.	 	BIOFRONTERA,
    AG. 
	 	 	 
	By:
	 

    
	 	By:	 
	Print
                                            Name:
	 

    
	 	Print
    Name:	 
	

    Title:
    
	 	 	Title:
    	 

 

	BIOFRONTERA
    BIOSCIENCE, GmbH.	 	BIOFRONTERA
    PHARMA, GmbH. 
	 	 	 
	By:
	 

    
	 	By:	 
	Print
                                            Name:
	 

    
	 	Print
    Name:	 
	Title:
                                            
	 	 	Title:
    	 

 

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APPENDIX
A

 

SAMPLE
STATEMENT OF WORK

 

THIS
STATEMENT OF WORK (the “Statement of Work”) is by and between Biofrontera, Inc. (“COMPANY”) and [SERVICE
PROVIDER NAME] (the “Service Provider”), and upon execution will be incorporated into the Master Contract Services
Agreement between COMPANY and Service Provider dated [EFFECTIVE DATE OF MASTER CONTRACT SERVICES AGREEMENT] (the “Agreement”).
Capitalized terms in this Statement of Work will have the same meaning as set forth in the Agreement.

 

COMPANY
hereby engages Service Provider to provide Services, as follows:

 

	1.	Services.
    Service Provider will render to COMPANY the following Services:
	 	 
	 	Describe
    specific Service to be provided including all Deliverables. 
	 	 
	 	Any
    Deliverables will be provided to COMPANY in a mutually agreeable format.
	 	 
	 	[Attach
    Transfer of Obligations document, if applicable.]
	 	 
	2.	Materials.
    COMPANY will provide to Service Provider the following Materials for the Services:
	 	 
	 	Describe
    specific materials being provided by COMPANY
	 	 
	3.	Completion.
    The Services will be completed within INSERT TIME PERIOD.
		 
	4.	Service
    Provider Project Leader. Name
    and Title
	 	 
	5.	COMPANY
    Contact. Name
    and Title
	 	 
	6.	Compensation.
    The total compensation due Service Provider for Services under this Statement of Work is INSERT WRITTEN AMOUNT (numerical
    amount). Such compensation will be paid INSERT PAYMENT SCHEDULE. COMPANY and Service Provider
    must agree in advance of either party making any change in compensation. Service Provider will invoice COMPANY to the attention of
    INSERT NAME for Services rendered hereunder. Service Provider will invoice COMPANY for all amounts due under a Statement
    of Work. All undisputed payments will be made by COMPANY within thirty (30) days of its receipt of an invoice.

 

All
other terms and conditions of the Agreement will apply to this Statement of Work.

 

STATEMENT
OF WORK AGREED TO AND ACCEPTED BY:

 

	BIOFRONTERA,
    INC.	 	[SERVICE
    PROVIDER NAME] 
	 	 	 
	By:
	 

    
	 	By:
	 
	Print
Name:
	 

     
	 	Print
                                            Name:
	
	Title:
	 

    
	 	Title:
	 
	Date	 	 	Date:	 

 

    	Page 11	of 12

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