SEC Contract Filing

Filing Date: 2023-09-26

Document Content:
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<TYPE>EX-10.9
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<FILENAME>d537034dex109.htm
<DESCRIPTION>EX-10.9
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.9 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">September&nbsp;21, 2023 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sorrento Therapeutics, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4955 Directors Place </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">San Diego, CA 92121 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Mohsin Y. Meghji </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Re: Assumption and Assignment of
Legal Fees and Expenses </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is hereby made to that certain Stock Purchase Agreement, dated as of September&nbsp;19,&nbsp;2023, by and between Scilex Holding
Company, a Delaware corporation (&#147;<B>Scilex</B>&#148;), and Sorrento Therapeutics, Inc., a Delaware corporation (&#147;<B>Sorrento</B>&#148;) (as may be amended or restated from time to time, the &#147;<B>Purchase Agreement</B>&#148;). Each
capitalized term used in this letter (the &#147;<B>Letter Agreement</B>&#148;) but not otherwise defined herein shall have the meaning ascribed to it in the Purchase Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to and in accordance with Section&nbsp;1 of the Purchase Agreement, Sorrento hereby assigns, and Scilex hereby irrevocably and
unconditionally assumes, all of the obligations of Sorrento to Paul Hastings LLP for those legal fees and expenses reflected in Paul Hasting LLP&#146;s proof of claim #238 filed with the Bankruptcy Court (attached hereto as <B>Exhibit A</B>) in the
amount of $12,249,244.09 (the &#147;<B>Obligations</B>&#148;). Scilex and Paul Hastings LLP each hereby agree and acknowledge that the Obligations shall be the sole responsibility of Scilex. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except as expressly set forth herein, this Letter Agreement will not amend, modify or otherwise affect the terms and conditions of the
Purchase Agreement, which will remain in full force and effect in accordance with the terms thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Letter Agreement may be
executed electronically and in one or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature page follows</I>] </P>
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<TD VALIGN="top" COLSPAN="3">Sincerely,</TD></TR>
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<TD VALIGN="top" COLSPAN="3"><B>S<SMALL>CILEX</SMALL> H<SMALL>OLDING</SMALL> C<SMALL>OMPANY</SMALL></B><SMALL></SMALL></TD></TR>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Jaisim Shah</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Jaisim Shah</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:&#8194;&#8201;Chief Executive Officer and President</TD></TR>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[Signature Page to
Scilex Assumption of Fees Letter Agreement] </I></P>

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<TD VALIGN="top" COLSPAN="3">ACKNOWLEDGED AND AGREED:</TD></TR>
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