SEC Contract Filing

Filing Date: 2019-11-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>9
<FILENAME>aytu_ex107.htm
<DESCRIPTION>TRANSITION SERVICES AGREEMENT, DATED NOVEMBER 1, 2019
<TEXT>
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<font style="font-weight: bold">&#xA0; <font style="font-family: Times New Roman; font-size: 13px">Exhibit
10.7</font><br></font></div>
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TRANSITION SERVICES AGREEMENT</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">This
Transition Services Agreement (this &#x201C;<font style="text-decoration: underline">Agreement</font>&#x201D;), dated as of
November 1, 2019 (the &#x201C;<font style="text-decoration: underline">Effective Date</font>&#x201D;), is made
by and between Aytu Bioscience, Inc., a Delaware
corporation<font style="font-size: 16px">&#xA0;</font>(&#x201C;<font style="text-decoration: underline">Buyer</font>&#x201D;) and Cerecor,
Inc., a Delaware corporation (&#x201C;<font style="text-decoration: underline">Seller</font>&#x201D;). All capitalized
terms used herein (or in any schedule) but not defined herein have
the meanings given to them in the Purchase Agreement (defined
below).</font></div>
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Recitals</font></div>
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<div style="text-align: justify; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">A. Buyer and Seller
are parties to an Asset Purchase Agreement, dated as of October 10,
2019, (the &#x201C;<font style="text-decoration: underline">Purchase
Agreement</font>&#x201D;), under which Buyer agreed to purchase from
Seller certain assets of Seller used in the operation of the
Business.</font></div>
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<div style="text-align: justify; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">B. In connection
with the Purchase Agreement and transactions contemplated thereby,
and for purposes of easing the transition of the Business to Buyer
and minimizing interruptions to the continuing operations of
Seller, the parties have agreed to enter into this Agreement for
the purpose of providing certain transition services to each
other.</font></div>
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Agreement</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">In
consideration of the mutual covenants contained herein, and other
good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Buyer and Seller agree:</font></div>
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<div style="margin-left: 0px; text-indent: 48px"><font style="font-family: Times New Roman; font-size: 13px">1.</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="text-decoration: underline; font-family: Times New Roman; font-size: 13px">Transition
Services.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(a)</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="text-decoration: underline; font-family: Times New Roman; font-size: 13px">Applicable
Transition Services</font><font style="font-family: Times New Roman; font-size: 13px">. Upon the terms
and subject to the conditions contained herein and in the Schedules
hereto, Seller shall provide, or cause its Affiliates to provide,
to Buyer the services described on <font style="text-decoration: underline">Schedule A-1</font> and <font style="text-decoration: underline">Schedule A-3</font> (together with the
services described in the other provisions of this Agreement that
Seller is obligated to provide to Buyer, collectively, the
&#x201C;<font style="text-decoration: underline">Seller-Provided
Services</font>&#x201D;) and Buyer shall provide, or cause its
Affiliates to provide, to Seller the services described on
<font style="text-decoration: underline">Schedule A-2</font> and
<font style="text-decoration: underline">Schedule A-3</font>
(together with the services described in the other provisions of
this Agreement that Buyer is obligated to provide to Seller
collectively, &#x