SEC Contract Filing

Filing Date: 2017-09-22

Document Content:
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<TYPE>EX-10.3
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<FILENAME>v475578_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
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<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: right"><B>Exhibit 10.3</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right">September 19, 2017</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>STRICTLY CONFIDENTIAL</U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Northwest Biotherapeutics, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">4800 Montgomery Lane, Suite 800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bethesda, MD 20814</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Linda Powers, Chief Executive Officer</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Ms. Powers:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This letter agreement
(this &ldquo;<U>Agreement</U>&rdquo;) constitutes the agreement between Northwest Biotherapeutics, Inc. (the &ldquo;<U>Company</U>&rdquo;)
and Rodman &amp; Renshaw, a unit of H.C. Wainwright &amp; Co., LLC (&ldquo;<U>Rodman</U>&rdquo;) that during the Term Rodman shall
serve as the exclusive placement agent for the Company in the U.S. (&ldquo;<U>Direct Placement</U>&rdquo;) on a reasonable best
efforts basis for a proposed registered direct placement (the &ldquo;<U>Placement</U>&rdquo;) of common stock, par value $0.001
per share (the &ldquo;<U>Common Stock</U>&rdquo;), of the Company and warrants to purchase shares of Common Stock (&ldquo;<U>Warrants&rdquo;)</U>.
Notwithstanding the foregoing or other provisions hereof, the Company will continue pursuing financing (including issuance of
Securities) during the Term hereof, separately from the Placement and not subject to this Agreement, <I>provided</I> that the
Company will not work with any other investment bank or other broker-dealer in connection therewith, and the Company will not
pursue such separate financing from investors who are included in Annex B as provided herein. The Common Stock and the Warrants
are referred to herein as the &ldquo;<U>Securities</U>.&rdquo; The terms of the Placement and the Securities issued in connection
therewith shall be mutually agreed upon by the Company, Rodman and the purchasers (each, a &ldquo;<U>Purchaser</U>&rdquo; and
collectively, the &ldquo;<U>Purchasers</U>&rdquo;) and nothing herein implies that Rodman would have the power or authority to
bind the Company or any Purchaser, and the Company shall not, and nothing herein implies that the Company shall, have an obligation
to issue any Securities or complete the Placement. This Agreement and the documents executed and delivered by the Company and
the Purchasers in connection with the Placement shall be collectively referred to herein as the &ldquo;<U>Transaction Documents</U>.&rdquo;
The date of a closing of the Placement shall be referred to herein as a &ldquo;<U>Closing Date</U>.&rdquo; The Company expressly
acknowledges and agrees that the execution of this Agreement does not constitute a commitment by Rodman or any Purchaser to purchase
the Securities and does not ensure the successful placement of the Securities or any portion thereof or the success of Rodman
with respect to securing any other financing on behalf of the Company. In the event the Placement will consist of unregistered
securities of the Company, Sections 2 and 3 (unless otherwise indicated) of <U>Annex A</U> will apply in addition to the provisions
set forth herein and in the event that a Placement will consist of registered securities of the Company, Sections 1, 2 and 3 of
<U>Annex A</U> will apply in addition to the provisions set forth herein.</P>

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 <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">430 Park Avenue | New York, New York 10022 | 212.356.0500</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P><P STYLE="font: 10pt T