SEC Contract Filing

Filing Date: 2018-05-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>pharmacyte_ex1003.htm
<DESCRIPTION>SECOND AMENDMENT TO LICENSING AGREEMENT
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<P STYLE="margin: 0"><B>Exhibit 10.3</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Second Amendment to Licensing Agreement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Second Amendment
to the Licensing Agreement (&ldquo;<U>Second Amendment</U>&rdquo;) is effective on the date the parties have fully signed the Second
Amendment (&ldquo;<U>Effective Date of the Second Amendment</U>&rdquo;) and memorializes an agreement reached between PharmaCyte
Biotech, Inc., formerly Nuvilex, Inc. (&ldquo;<U>Licensee</U>&rdquo;), and Austrianova Singapore Pte. Ltd. (&ldquo;<U>Licensor</U>&rdquo;)
on 30 August 2017 relating to the Licensing Agreement between the Parties dated as of June 25, 2013, as amended by the First Amendment
to the Licensing Agreement dated as of 24 June 2016 (collectively, &ldquo;<U>Licensing Agreement</U>&rdquo;). Licensee and Licensor
are referred to in this Second Amendment individually as a &ldquo;<U>Party</U>&rdquo; and collectively as the <U>&ldquo;Parties</U>.&rdquo;
Defined terms in the Licensing Agreements have the same meaning in this Second Amendment as they do in the Licensing Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>Recitals</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>A.</B></TD><TD STYLE="text-align: justify">The Parties entered into the Licensing Agreement to, among other things, provide Licensee with
an exclusive worldwide license to use the Cell-in-a-Box<SUP>&reg; </SUP>Trademark and its Associated Technology with genetically
modified non-stem cell lines and IPS stem cells specifically designed to produce insulin or other critical components for the treatment
of diabetes, to conduct research, to use in clinical trials, to obtain market approval and to market and sell products and treatments
utilizing the Cell-in-a-Box<SUP>&reg;</SUP> Trademark and its Associated Technology world-wide;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>B.</B></TD><TD STYLE="text-align: justify">Section 1.11 of the Licensing Agreement defines &ldquo;Scope of the Agreement&rdquo; to mean the
use of cells encapsulated using the Cell-in-a-Box<SUP>&reg;</SUP> Trademark and its Associated Technology that are genetically
modified or non-modified non-stem cell lines and IPS stem cells specifically designed to produce insulin for the treatment of diabetes.
Further, it shall mean the use of cells encapsulated using the Cell-in-a-Box<SUP>&reg;</SUP> Trademark and its Associated Technology
that are other defined adult stem cell phenotypes designed to produce insulin for the treatment of diabetes that are mutually agreed
to in writing by, and are mutually acceptable to, the Parties. The Parties desire to change the definition of &ldquo;Scope of the
Agreement&rdquo; in accordance with the amended Section 1.11 below;</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>C.</B></TD><TD STYLE="text-align: justify">Section 3.1.1 of the Licensing Agreement provides that Licensee shall pay to Licensor royalties
equal to ten percent (10%) of Gross Sales Value of all Products sold by Licensee. The Parties desire to change the amount of royalties
Licensee shall pay to Licensor in accordance with the amended Section 3.1.1 below;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>D.</B></TD><TD STYLE="text-align: justify">Section 3.1.2 of the Licensing Agreement provides that Licensee shall pay to Licensor royalties
equal to twenty percent (20%) of the amount received by Licensee from Sub-Licensees on Sub-Licensees&rsquo; Gross Sales Value.
The Parties desire to change the amount of royalties Licensee shall pay to Licensor pursuant to Section 3.1.2 in accordance with
the amended Section 3.1.2 below;</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>E.</B></TD><TD STYLE="tex