SEC Contract Filing

Filing Date: 2015-03-17

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>v404684_ex10-5.htm
<DESCRIPTION>EXHIBIT 10.5
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<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.5</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AMENDMENT NO. 1 TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2011 WARRANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TO PURCHASE COMMON STOCK OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Amendment No. 1 (this &ldquo;<U>Amendment</U>&rdquo;)
to the Warrants with the issue date of April 4, 2011 (the &ldquo;<U>Original Warrants</U>&rdquo;), effective as of March 13, 2015,
is between Champions Oncology, Inc. (the &ldquo;<U>Company</U>&rdquo;) and the other parties hereto, who constitute the holders
of Original Warrants exercisable for a majority of the number of shares of Common Stock of the Company into which all of the Original
Warrants outstanding as of the date hereof are exercisable, and is thus binding upon all of the holders of Original Warrants pursuant
to Section 12 of the Original Warrants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, the parties hereto wish to amend the
terms of the Original Warrants;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the foregoing
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledge, the parties agree as follows.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
5(c) of each of the Original Warrants is deleted in its entirety and replaced with &ldquo;[<I>Reserved</I>]&rdquo;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
last sentence of Section 1(a) is amended and restated in its entirety as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&ldquo;The &ldquo;<U>Exercise Price</U>&rdquo; for each
Warrant Share purchased by the Holder upon the exercise of this Warrant shall be equal to $0.40, subject to adjustment for the
events specified in Section 5 below.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For purposes of this Amendment, the definition of &ldquo;Exercise
Price&rdquo; in the Original Warrants (before giving effect to the amendment in this Section 2) is referred to as the &ldquo;<U>Original
Exercise Price</U>&rdquo;, and the definition of &ldquo;Exercise Price&rdquo; in the Original Warrants (after giving effect to
the amendment in this Section 2) is referred to as the &ldquo;<U>New Exercise Price</U>&rdquo;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
number of shares issuable upon exercise of each of the Original Warrants (as set forth in the Preamble to the Original Warrants)
(the &ldquo;<U>Original Shares Issuable</U>&rdquo;) shall be amended to an amount (the &ldquo;<U>New Shares Issuable</U>&rdquo;)
equal to (x) the Original Exercise Price divided by the New Exercise Price, multiplied by (y) the Original Shares Issuable. For
avoidance of doubt, the New Shares Issuable shall be subject to all limitations, conditions, and adjustments as set forth in the
Original Warrants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
definition of &ldquo;Expiration Date&rdquo; (as set forth in the Preamble to the Original Warrants) of each of the Original Warrants
is amended and restated in its entirety as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&ldquo;&hellip;6:00 p.m., eastern time, on April 4, 2017
(or, if such date is not a Business Day, on the Business Day immediately following such date) (the &ldquo;<U>Expiration Date</U>&rdquo;).&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
other provisions of the Original Warrants shall remain effective.</P>

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

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