SEC Contract Filing

Filing Date: 2020-07-29

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex10-2.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
10.2</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="ex10-2_01.jpg" ALT="" STYLE="height: 109; width: 300">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February
25, 2020</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mateon
Therapeutics, Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29397
Agoura Road</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Suite
107</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agoura
Hills, CA 91501</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Re:
Proposed Financing</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dear
Vuong Trieu, Chief Executive Officer:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
letter will confirm the understanding and agreement (the &ldquo;<U>Agreement</U>&rdquo;) between J H Darbie &amp; Co., Inc. (&ldquo;<U>JHD</U>&rdquo;),
and Mateon Therapeutics, Inc. (the &ldquo;<U>Company</U>&rdquo;), as follows:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
<U>Engagement</U>. The Company has a wholly owned subsidiary called EdgePoint (the &ldquo;<U>Subsidiary</U>&rdquo;). The Company
hereby engages JHD on a nonexclusive basis to conduct a review of the business and financial condition of the Company and the
Subsidiary and the Company&rsquo;s proposed financing (&ldquo;<U>Offering</U>&rdquo;) to be used in connection with the Offering,
with a view toward possibly participating as a sales agent in the private placement of shares of the Subsidiary&rsquo;s Common
Stock (the &ldquo;<U>Subsidiary&rsquo;s Common Stock</U>&rdquo;), notes to be issued by the Company (the &ldquo;<U>Notes</U>&rdquo;),
which will be convertible into the Subsidiary&rsquo;s Common Stock) and the Company&rsquo;s Common Stock (the &ldquo;<U>Company&rsquo;s
Common Stock</U>&rdquo; collectively with the the Subsidiary&rsquo;s Common Stock the (&ldquo;<U>Common Stock</U>&rdquo;) and
warrants exercisable to purchase the Subsidiary&rsquo;s Common Stock and the Company&rsquo;s Common Stock (the &ldquo;<U>Warrants</U>&rdquo;)
all in the form of units (the &ldquo;<U>Units</U>&rdquo;) collectively with the Notes, the Subsidiary&rsquo;s Common Stock, the
Company&rsquo;s Common Stock, and the Warrants referred to as the (&ldquo;<U>Securities</U>&rdquo;). The Securities will be offered
for sale to a limited number of sophisticated investors (&ldquo;<U>Investors</U>&rdquo;) to be introduced to the Company by JHD
and other authorized securities broker-dealers that are members in good standing of The Financial Industry Regulatory Authority,
Inc. (&ldquo;<U>FINRA</U>&rdquo;). Such private placement will be referred to as the &ldquo;<U>Transaction</U>.&rdquo; Each Unit
will consist of 25,000 shares of the Subsidiary&rsquo;s Common Stock, one Note, in the principal amount of $25,000 bearing interest
at the annual rate of 16% and each initially convertible into up to 25,000 shares of the Subsidiary&rsquo;s Common Stock or up
to 138,889 shares of the Company&rsquo;s Common Stock subject to adjustments for reverse and forward split