SEC Contract Filing

Filing Date: 2017-11-09

Document Content:
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<TYPE>EX-10.14
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<FILENAME>d491638dex1014.htm
<DESCRIPTION>EX-10.14
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<TITLE>EX-10.14</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.14 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>S<SMALL>ECOND</SMALL> A<SMALL>MENDMENT</SMALL> <SMALL>TO</SMALL> S<SMALL>TOCK</SMALL> I<SMALL>SSUANCE</SMALL> A<SMALL>GREEMENT</SMALL>
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This<B> S<SMALL>ECOND</SMALL> A<SMALL>MENDMENT</SMALL> <SMALL>TO</SMALL> S<SMALL>TOCK</SMALL> I</B><B><SMALL>SSUANCE</SMALL>
A<SMALL>GREEMENT</SMALL></B><SMALL><B></B></SMALL><B> </B>(the &#147;<B>Amendment</B>&#148;) is effective as of November&nbsp;8, 2017 (the &#147;<B>Amendment</B> <B>Effective Date</B>&#148;) by and between
<B>I<SMALL>NTREXON</SMALL></B><SMALL><B></B></SMALL><B> C<SMALL>ORPORATION</SMALL></B><SMALL></SMALL>, a Virginia corporation with offices at 20374 Seneca Meadows Parkway, Germantown, MD 20876 (&#147;<B>Intrexon</B>&#148;), and
<B>O</B><B><SMALL>RAGENICS</SMALL></B><SMALL><B></B></SMALL><B>, I</B><B><SMALL>NC</SMALL></B><SMALL><B></B></SMALL><B>., </B>a Florida corporation having its principal place of business at 4902 Eisenhower Boulevard, Suite 125, Tampa, FL 33634,
U.S.A. (the &#147;<B>Company</B>&#148;). Intrexon on the one hand and the Company on the other hand may be referred to herein individually as a &#147;<B>Party</B>&#148;, and collectively as the &#147;<B>Parties</B>.&#148; </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>R<SMALL>ECITALS</SMALL> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>A. </B><B>W<SMALL>HEREAS</SMALL> </B>Intrexon, Intrexon&#146;s wholly-owned subsidiary Intrexon Actobiotics NV, and the Company are parties
to that certain Exclusive Channel Collaboration Agreement, effective June&nbsp;9, 2015, as amended by that certain Amendment to Exclusive Channel Collaboration Agreement, effective May&nbsp;10, 2017 (the &#147;<B>ECC</B> <B>Agreement</B>&#148;),
pursuant to which Intrexon and Actobiotics collectively appointed the Company as their exclusive channel collaborator for developing and commercializing certain products in an exclusive field as defined by the ECC Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>B. </B><B>W<SMALL>HEREAS</SMALL> </B>Intrexon and the Company are also parties to that certain Stock Issuance Agreement, effective
June&nbsp;9, 2015, as amended by that certain Amendment to Stock Issuance Agreement, effective May&nbsp;10, 2017 (the &#147;<B>Stock</B> <B>Agreement</B>&#148;), pursuant to which Intrexon and the Company further defined certain rights and
obligations of Intrexon and the Company in regards to equity of the Company potentially payable under the ECC Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>C.
</B><B>W<SMALL>HEREAS</SMALL> </B>Intrexon and the Company, in conjunction with concurrent amendment of the ECC Agreement effectuated under separate instrument of even date herewith (the &#147;<B>ECC</B> <B>Amendment</B>&#148;), now mutually desire
to amend the Stock Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>D. </B><B>N<SMALL>OW</SMALL>, <SMALL>THEREFORE</SMALL>,</B> Intrexon and the Company agree to amend the
terms of the Stock Agreement as provided below, effective as of the Amendment Effective Date. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1. G<SMALL>ENERALLY</SMALL> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.1 </B>Capitalized terms present within this Amendment that are not proper names or titles, that are not conventionally capitalized, or
that are not otherwise defined within this Amendment shall have the meaning set forth in the Stock Agreement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2. A<SMALL>MENDMENTS</SMALL>
<SMALL>TO</SMALL> <SMALL>THE</SMALL> A<SMALL>GREEMENT</SMALL> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.1 Purchase and Sale of Shares; Authorization of Issuance of Shares.
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>(a) </B>Section&nbsp;1.2 of the Stock Agreement is hereby replaced in its entirety with the following new Section&nbsp;1.2: </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>1.2 </B><U>Issuance of Shares upon Achievement of Commercialization Milestone Event</U>.
Subject to the terms and conditions of this Agreement and the Channel Agreement, upon the first attainment of Commercialization Milestone Event (as defined in the Channel Agreement), the Company has agreed to make certain milestone payments (each a
&#147;<B>Milestone Payment</B>&#148; and together &#147;<B>Milestone Payments</B>&#148;), at the Company&#146;s option either in the form of shares of Company Common Stock (based upon the Fair Market Value of the shares). In the event that the
Company so elects to pay any one or more of the Milestone Payments in shares of Company Common Stock instead of in cash the terms of this Section&nbsp;1.2 shall govern. </P>
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