SEC Contract Filing

Filing Date: 2019-12-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>tm1924560d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%; text-align: left"><B>$5,000,000</B></TD><TD STYLE="text-align: right; width: 50%"><B>December 5, 2019</B></TD>
</TR></TABLE>

<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-indent: 0.5in; text-align: justify"><B>FOR VALUE RECEIVED</B>, Aevi Genomic
Medicine, Inc., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;) (&ldquo;<B><I>Maker</I></B>&rdquo;) promises to
pay to the order of Cerecor Inc., a Delaware corporation (&ldquo;<B><I>Payee</I></B>&rdquo;), at the address set forth in paragraph
9 below, the lesser of (i) the principal sum of <B>Five Million Dollars</B> ($<B>5,000,000</B>) (the &ldquo;<B><I>Maximum Amount</I></B>&rdquo;),
or (ii) the unpaid principal amount of all advances made by Payee to Maker under this Note (&ldquo;<B><I>Advances</I></B>&rdquo;),
as such Advances are set forth on <U>Exhibit A</U> hereto and updated from time to time, up to the Maximum Amount, together with
interest on the outstanding principal amount of all such Advances at an annual rate of 5.00%, or such lesser rate as shall be the
maximum rate allowable under applicable law. Unless accelerated as provided herein, all unpaid principal and unpaid accrued interest
on this Note shall be due and payable in full on December 5, 2020.</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; text-indent: 0.5in">This Note is subject to the following
additional provisions:</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-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Purpose of Note</U>. This Note is issued to evidence the Maker&rsquo;s obligation to Payee for amounts lent to Maker.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Advances</U>. From the date hereof until April 30, 2019, Maker may request Advances under this Note. Maker may not borrow
under this Note should there exist an Event of Default (as defined below), Maker is in breach (which breach has not been cured)
of any covenant or agreement of the Merger Agreement (as defined below), or the Merger Agreement has been terminated by any party
thereto for any reason. Payee agrees, on the terms and conditions set forth herein, to make an Advance to Maker within four (4)
business days of Maker&rsquo;s submission of a written request for an Advance, which request sets forth (a) the amount of the Advance
requested and (b) the Payee&rsquo;s good faith description of the intended use of proceeds (&ldquo;<B><I>Advance Request</I></B>&rdquo;).
The aggregate amount of the Advances may not exceed the Maximum Amount.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Use of Proceeds</U>. The Borrower will use the proceeds of the Advances solely for purposes directly related to the Option
and License Agreement between the Maker and MedImmune Limited, dated August 6, 2019, as may be amended (the &ldquo;<B><I>MedImmune
Agreement</I></B>&rdquo;), including Maker&rsquo;s payment of the upfront amount due to MedImmune Limited upon exercise of the
option to license intellectual property (as described in the MedImmume Agreement), in each case consistent with the intended use
of proceeds set forth in the Advance Request.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Prepayment</U>.&nbsp; Maker shall have the absolute right to prepay this Note in whole or in part at any time and from
time to time, without prepayment penalty or premium. Any prepayment of this Note will be credited first against accrued interest,
then principal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">5.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Events of Default</U>.<B>&nbsp;</B> This Note immediately shall become due and pay