SEC Contract Filing

Filing Date: 2022-02-02

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>tm225182d2_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></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: right">February 2, 2022</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">200 Pine Street, Suite 400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">San Francisco, California 94104</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reference is made to the At The Market Offering
Agreement, dated as of December 10, 2021 (the &ldquo;<U>ATM Agreement</U>&rdquo;), between Jaguar Health, Inc. (the &ldquo;<U>Company</U>&rdquo;)
and Ladenburg Thalmann &amp; Co., Inc. (the &ldquo;<U>Ladenburg</U>&rdquo;).&nbsp;&nbsp;This letter (the &ldquo;<U>Amendment</U>&rdquo;)
constitutes an agreement between the Company and Ladenburg to amend the ATM Agreement as set forth herein.&nbsp;&nbsp;Defined terms that
are used but not defined herein shall have the meanings ascribed to such terms in the ATM Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
defined term &ldquo;Agreement&rdquo; in the ATM Agreement is amended to mean the ATM Agreement as amended by this Amendment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Section
2 of the ATM Agreement is hereby amended and restated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&ldquo;2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Sale and Delivery of Shares</U>.
The Company proposes to issue and sell through or to the Manager, as sales agent and/or principal, from time to time during the term of
this Agreement and on the terms set forth herein, up to the $75,000,000 of shares (the &ldquo;<U>Shares</U>&rdquo;) of the Company&rsquo;s
common stock, $0.0001&nbsp;par value per share (&ldquo;<U>Common Stock</U>&rdquo;), from time to time during the term of this Agreement
and on the terms set forth herein;&nbsp;<U>provided</U>,&nbsp;<U>however</U><I>,&nbsp;</I>that in no event shall the Company issue or
sell through the Manager such number of Shares that (a) exceeds the number or dollar amount of shares of Common Stock registered on the
Registration Statement, pursuant to which the offering is being made, less the dollar amount of securities issued under the Registration
Statement prior to the date of this Agreement, (b) exceeds the number of authorized but unissued shares of Common Stock (less the number
of shares of Common Stock issuable upon exercise, conversion or exchange of any outstanding securities of the Company or otherwise reserved
from the Company&rsquo;s authorized capital stock), or (c) would cause the Company or the offering of the Shares to not satisfy the eligibility
and transaction requirements for use of Form S-3, including, if applicable, General Instruction I.B.6 of Registration Statement on Form
S-3 (the lesser of (a), (b) and (c), the &ldquo;<U>Maximum Amount</U>&rdquo;).&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Section
8(c) of the ATM Agreement is hereby amended and restated as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&ldquo;This Agreement shall remain in full
force and effect until the date that this Agreement is terminated pursuant to Sections 8(a) or (b) above or otherwise by mutual agreement
of the parties, provided that any such termination by mutual agreement shall in all cases be deemed to provide that Sections 5, 7, 8,
9, 10, 12 and 14 shall remain in full force and effect.&rdquo;</P>

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

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