SEC Contract Filing

Filing Date: 2023-04-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>krbp-20230425xex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.14.0.96--><!--Created on: 4/28/2023 03:51:50 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 0.15pt 5pt;"><b style="font-size:11pt;font-weight:bold;">Exhibit 10.1</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0.15pt 5pt;"><font style="font-size:11pt;font-weight:bold;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 9pt 5pt;"><b style="font-size:11pt;font-weight:bold;">THIS NOTE AND THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION HEREOF OR UPON THE CONVERSION OF ACCRUED INTEREST AS FURTHER DESCRIBED HEREIN HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, TRANSFERRED, OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND SUCH STATE SECURITIES LAWS.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 9pt 0pt;"><b style="font-size:11pt;font-weight:bold;">KIROMIC BIOPHARMA, INC.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 9pt 0pt;"><b style="font-size:11pt;font-weight:bold;">25% SENIOR SECURED CONVERTIBLE PROMISSORY NOTE AND SECURITY AGREEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 9pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:72pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">$2,000,000</font></font><font style="font-size:11pt;">Dated: April 25, 2023</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:24.45pt;margin:0pt 0pt 9pt 5pt;"><font style="font-size:11pt;">FOR VALUE RECEIVED, Kiromic BioPharma, Inc., a Delaware corporation (the &#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Company</u><font style="font-size:11pt;">&#8221;), promises to pay to the order of the initial registered holder hereof, or its permitted assigns (&#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Holder</u><font style="font-size:11pt;">&#8221;), upon the terms set forth below, the principal sum of TWO MILLION DOLLARS ($2,000,000)(the &#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Principal Amount</u><font style="font-size:11pt;">&#8221;), plus interest on the unpaid principal balance hereof at the rate of twenty-five percent (25%) per annum (the &#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Stated Rate</u><font style="font-size:11pt;">&#8221;).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:24.45pt;margin:0pt 0pt 9pt 5pt;"><font style="font-size:11pt;">The term &#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Note</u><font style="font-size:11pt;">&#8221; and all references thereto, as used throughout this instrument, shall mean this 25% Senior Secured Convertible Promissory Note as originally executed, or if later amended or supplemented, then as so amended or supplemented.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:24.45pt;margin:0pt 0pt 9pt 5pt;"><font style="font-size:11pt;">The aggregate purchase price for this Note pursuant to the terms hereof shall be two million dollars ($2,000,000). The Holder shall pay $1.00 for each $1.00 of Principal Amount. Upon execution and delivery of this Note by the Holder to the Company, the Principal Amount under this Note shall be made in United States Dollars in immediately available funds by wire transfer of funds to the Company&#8217;s account, instructions for which are set forth on </font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Exhibit A</u><font style="font-size:11pt;">.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 9pt 0pt;"><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">DEFINITIONS</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:24.45pt;margin:0pt 0pt 9pt 5pt;"><font style="font-size:11pt;">In addition to the terms defined elsewhere in this Note, the following terms have the meanings indicated in this section of definitions:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:24.45pt;margin:0pt 0pt 9pt 5pt;"><font style="font-size:11pt;">&#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Affiliate</u><font style="font-size:11pt;">&#8221; means any Person that, directly or indirectly throu