SEC Contract Filing

Filing Date: 2015-10-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<TEXT>
<HTML>
<HEAD>
 <TITLE>EXHIBIT 10.1</TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>BONE
BIOLOGICS CORPORATION</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">September <FONT STYLE="font: 10pt Times New Roman, Times, Serif">
24, 2015</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bone Biologics
Corporation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">321 Columbus
Ave.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Boston,
MA 02116</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Attention:
Founders</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dear Drs.
Soo, Ting and Wu:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
 letter agreement has been written to confirm our understanding regarding the past work
 product and past data related to Nell-1. By executing this Agreement Ben Wu, Chia Soo
 and Eric Kang Ting (the &ldquo;Founders&rdquo;) hereby agree to deliver all past work
 product and past data related to Nell-1 (the &ldquo;Data&rdquo;) which Bone Biologics
 Corporation (&ldquo;Bone Bio&rdquo;) deems to have value to Bone Bio as it progresses
 to and commences the manufacturing of Nell-1 (the &ldquo;Data&rdquo;), as set forth on
 Schedule I attached hereto. The Founders are not asked to perform additional research
 or produce new data. The Founders agree that Bone Biologics shall have the right to use
 the Data in its sole discretion, within the applicable licensing rights granted by the
 University of California, beginning as of the date hereof and that such right shall not
 be subject to termination in any way by the Founders. Absent any additional agreement
 between Bone Bio and the Founders, it is understood that the Founders will have no further
 obligation to Bone Bio to provide work product or any other services beyond what is contained
 herein as defined in Schedule I.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bone
Bio agrees to issue 1,153,846 shares of restricted common stock to the Founders in the percentages set forth on Annex I attached
hereto (the &ldquo;Shares&rdquo;) on the earlier to occur of (i) the third anniversary of the date hereof and (ii) a &ldquo;Liquidity
Event&rdquo; which shall mean Bone Bio&rsquo;s initial public offering or APO/OTCB/PIPE/PPM/PREFERRED CONVERT or sale in exchange
for reasonable efforts by Founders to provide the work product and data set forth in Schedule I attached hereto. For transactions
and liquidity events that involve customary lockup periods, the Shares shall vest on the expiration date of the lock-up period.
The Founders agree to accept the Shares in full satisfaction for the delivery of the Data.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Founders understand that the Shares are restricted and may not be sold, transferred or otherwise disposed of without registration
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) or an exemption therefrom, and that in the absence
of an effective registration statement covering the Shares or an available exemption from registration under the Securities Act,
the Shares must be held indefinitely. Bone Bio will register these Shares on behalf of the Founders at the earliest opportunity
as permitted under the Securities Act of 1933 (the &ldquo;Act&rdquo;). The certificate or certificates representing the Shares
shall bear the following legends (as well as any legends required by applicable state and federal corporate and securiti