SEC Contract Filing

Filing Date: 2023-02-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>6
<FILENAME>tm237968d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">February 22, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Quoin Pharmaceuticals Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Gordon Dunn</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Azrieli Center, Round Tower, 30th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">132 Menachem Begin Blvd</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel Aviv, 6701101</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr.&nbsp;Gordon Dunn:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the terms and conditions of this
letter agreement (the &ldquo;<B>Agreement</B>&rdquo;) between A.G.P./Alliance Global Partners, as the sole placement agent
(&ldquo;<B>A.G.P.</B>&rdquo;) (A.G.P. is also referred to herein as the &ldquo;<B>Placement&nbsp;Agent</B>&rdquo;), and Quoin
Pharmaceuticals Ltd., a company organized under the laws of Israel (the &ldquo;<B>Company</B>&rdquo;), the parties hereby agree that
the Placement Agent shall serve as the placement agent for the Company, on a &ldquo;reasonable best efforts&rdquo; basis, in
connection with the proposed placement (the &ldquo;<B>Placement</B>&rdquo;) of not less than $10 million of registered securities of
the Company, consisting of: (i)&nbsp;ordinary shares, no par value (the &ldquo;<B>Ordinary Shares</B>&rdquo;) represented by
American Depositary Shares (the &ldquo;<B>ADSs</B>&rdquo;), with each ADS representing five thousand (5,000) Ordinary Shares,
(ii)&nbsp;pre-funded warrants to purchase Ordinary Shares represented by ADSs (the &ldquo;<B>Pre-Funded Warrants</B>&rdquo;), and
(iii)&nbsp;warrants to purchase ADSs (the &ldquo;<B>Common Warrants</B>&rdquo; and collectively with the Pre-Funded Warrants, the
 &ldquo;<B>Warrants</B>&rdquo;). The ADSs and Warrants actually placed by the Placement Agent are referred to herein as the
 &ldquo;<B>Placement Agent Securities</B>.&rdquo; The Placement Agent Securities and Ordinary Shares Represented by ADSs issuable
upon the exercise of the Warrants shall be offered and sold under the Company&rsquo;s registration statement on Form&nbsp;S-1, as
amended (File No.&nbsp;333-269543), which was declared effective by the Securities and Exchange Commission (the
 &ldquo;<B>Commission</B>&rdquo;) on February 10, 2023. The documents executed and delivered by the Company and the Purchasers (as
defined below) in connection with the Placement, including, without limitation, a securities purchase agreement (the
 &ldquo;<B>Purchase</B>&nbsp;<B>Agreement</B>&rdquo;), shall be collectively referred to herein as the &ldquo;<B>Transaction
Documents</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The terms of the Placement shall be mutually agreed
upon by the Company and the purchasers listed in the Purchase Agreement (each, a &ldquo;<B>Purchaser</B>&rdquo; and collectively, the
 &ldquo;<B>Purchasers</B>&rdquo;), and nothing herein constitutes that the Placement Agent would have the power or authority to bind the
Company or any Purchaser, or an obligation for the Company to issue any Placement Agent Securities or complete the Placement. The Company
expressly acknowledges and agrees that the Placement Agent&rsquo;s obligations hereunder are on a reasonable best efforts basis only and
that the execution of this Agreement does not constitute a commitment by the Placement Agent to purchase the Placement Agent Securities
and does not ensure the successful placement of the Placement Agent Securities or any portion thereof or the success of the Placement
Agent with respect to securing any other financing on behalf of the Company. The Placement Agent may retain other brokers or dealers to
act as sub-agents or selected-dealers on its behalf in connection with the Placement.&nbsp; Certain affiliates of the Placement Agent
may participate in the Placement by purchasing some of the Placement Agent Securities. The sale of Placement Agent Securities to any Purchaser
will be evidenced by the Purchase Agreement between the Company and such Purchaser, in a form reasonably acceptable to the Company and
the Purchaser. Capitalized terms that are not otherwise defined herein have the meanings given to such terms in the Purchase Agreement.
Prior to the signing of any Purchase Agreement, officers of the Company will be available to answer inquiries from prospective Purchasers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"><U>SECTION&nbsp;1.</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>REPRESENTATIONS
AND WARRANTIES OF THE COMPANY; COVENANTS OF THE COMPANY</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Representations
of the Company</U>. With respect to the Pla