| A. |
WHEREAS, Medlmmune and Compugen are parties to a License Agreement effective as of March 30, 2018, as amended on May 9, 2018, September 16, 2020 and August 4, 2021 (collectively, the “Agreement”).
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| B. |
WHEREAS, the Parties have agreed to amend the royalties payable under the Agreement and further to amend the payment relating to one Development Milestone Event under the Agreement.
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| C. |
WHEREAS, in accordance with Section 18.2 of the Agreement, the Parties hereto desire to amend and modify the Agreement in accordance with the terms and subject to the conditions set forth in this Amendment.
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| 1. |
Additional Upfront. MedImmune shall pay to Compugen a one-time, non-refundable, non-creditable payment of sixty-five million Dollars ($65,000,000) within five (5) Business Days after the Amendment
Effective Date.
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| 2. |
The following language is hereby added at the end of Section 10.2(a) of the Agreement immediately following the Development Milestone Payments table:
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| 3. |
Section 10.4(b) of the Agreement is hereby amended and restated in its entirety to read as follows:
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Aggregate Annual Net Sales of Product in the Territory
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Royalty Rate
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For that portion of aggregate annual Net Sales of such Licensed Product less than or equal to [*]
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[*]%
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For that portion of aggregate annual Net Sales of such Licensed Product greater [*]
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[*]%
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| 4. |
Except as expressly set forth herein, all of the terms and conditions of the Agreement remain unchanged and are in full force and effect. Capitalized terms not otherwise defined in this Amendment shall have the meanings respectively
ascribed to them in the Agreement.
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| 5. |
This Amendment and the Agreement constitute the complete and final and exclusive understanding and agreement of the Parties with respect to the subject matter of the Agreement, and supersede any and all prior or contemporaneous
negotiations, correspondence, understanding and agreements, whether oral or written, between the Parties respecting the subject matter of the Agreement.
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| 6. |
This Amendment may be executed in counterparts, each of which will be deemed an original and both of which will together be deemed to constitute one agreement. The Parties agree that the execution of this Amendment by industry standard
electronic signature software and/or by exchanging PDF signatures shall have the same legal force and effect as the exchange of original signatures.
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MEDIMMUNE LIMITED
By: /s/ Adam McArthur
Name: Adam McArthur
Title: AGC, Business Development & Technology
COMPUGEN LTD.
By: /s/ Eran Ophir
Name: Dr. Eran Ophir
Title: CEO
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