CORAUTUS GENETICS INC
FIRST AMENDMENT TO AMENDED AND RESTATED LICENSE AGREEMENT DATED OCTOBER 10, 2002
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<TYPE>EX-10.2
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<FILENAME>dex102.htm
<DESCRIPTION>FIRST AMENDMENT TO AMENDED AND RESTATED LICENSE AGREEMENT DATED OCTOBER 10, 2002
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<TITLE>First Amendment to Amended and Restated License Agreement dated October 10, 2002</TITLE>
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  <p style=' margin-bottom:0pt;text-align:right; margin-top:8pt;'><b><font SIZE=2>EXHIBIT 10.2</font></b></p> <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font SIZE=2>FIRST AMENDMENT TO
THE</font></b><br><b><font SIZE=2>AMENDED AND RESTATED LICENSE AGREEMENT</font></b></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><b><font SIZE=2>THIS FIRST AMENDMENT TO THE AMENDED AND RESTATED LICENSE
AGREEMENT</font></b><font size=2> (&#147;Amendment&#148;) made as of the 10<sup>th</sup> day of October, 2002, by and between </font><b><font SIZE=2>VASCULAR GENETICS INC.</font></b><font size=2>, a Delaware corporation (the &#147;Licensee&#148;)
and </font><b><font SIZE=2>HUMAN GENOME SCIENCES, INC.</font></b><font size=2>, a Delaware corporation (&#147;HGS&#148;). </font></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><b><font SIZE=2>WHEREAS</font></b><font size=2>,
HGS and the Licensee entered into that certain License Agreement, dated as of October 31, 1997 (&#147;Original License Agreement&#148;), whereunder HGS granted to the Licensee an exclusive license to use the gene Vascular Endothelial Growth Factor 2
in gene therapy treatment of vascular diseases; and </font></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><b><font SIZE=2>WHEREAS</font></b><font size=2>, the parties amended the Original License Agreement in its entirety
with that certain Amended and Restated License Agreement, dated February 28, 2001 (&#147;Amended License Agreement&#148;); and </font></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><b><font SIZE=2>WHEREAS</font></b><font
size=2>, the parties entered into that certain Recapitalization Agreement, dated September 5, 2002 (&#147;Recapitalization Agreement&#148;), whereunder the parties set forth certain obligations between one another, including certain obligations
related to the Amended License Agreement; and </font></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><b><font SIZE=2>WHEREAS, </font></b><font size=2>in connection with the Recapitalization Agreement, and pursuant to Section
12.3 of the Amended License Agreement, the parties desire to herein amend the Amended License Agreement. </font></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><b><font SIZE=2>NOW, THEREFORE, </font></b><font size=2>for and
in consideration of the premises and mutual promises herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>1.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>The Parties acknowledge that all capitalized terms not otherwise defined herein shall
have the meaning ascribed to such terms in the Amended License Agreement.</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>2.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><u><font
size=2>Section 1.3</font></u><font size=2>. Effective upon the Effective Time of the merger of LICENSEE with GenStar Therapeutics Corporation or an affiliate thereof (&#147;Merger&#148;), Section 1.3 of the Amended License Agreement (definition of
Change of Control) shall be deleted in its entirety. </font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>3.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><u><font size=2>Section
1.8</font></u><font size=2>. Effective upon the Effective Time of the Merger, Section 1.8 of the Amended License Agreement (definition of FDA Clinical Hold) shall be deleted in its entirety. </font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>4.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><u><font size=2>Section 3.2</font></u><font size=2>. Section 3.2 of the Amended License Agreement
(minimum use milestones) is hereby deleted in its entirety and replaced with the following:</font></p> <br><p style='margin-bottom:0pt;text-align:left'><font size=2>
</font></p>
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  <p style=' margin-bottom:0pt; margin-left:0.36in; margin-top:8pt;'><font size=2>Effective upon the execution hereof and prior to the Merger Section 3.2 shall read as follows:</font></p> <p style=' margin-bottom:0pt;
margin-left:0.72in; margin-top:8pt;'><font size=2>Subject to Sections 3.3 and 3.4, LICENSEE agrees that it will meet the following minimum use standards either by its own performance or through or in combination with a sublicensee:</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:1.08in;'><font size=2>(a)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:1.08in;text-indent:0.419999957084656in;'><font size=2>Intentionally omitted. </font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:1.08in;'><font size=2>(b)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;text-indent:0.779999971389771in;'><font size=2>Not later than March 30, 2003, LICENSEE shall have
met with the FDA and received concurrence for the design of a clinical program for at least one LICENSED PRODUCT that will support licensure in the United States, such occurrence to be evidenced by minutes of such meeting.</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:1.08in;'><font size=2>(c)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;text-indent:0.779999971389771in;'><font size=2>Within twenty-four (24) months following the date of
notification from the FDA that the FDA CLINICAL HOLD is removed (but no later than June 30, 2003), LICENSEE shall have prepared and submitted a BLA for at least one LICENSED PRODUCT.</font></p> <p style=' margin-bottom:0pt; text-indent:0.36in;
margin-top:8pt;'><font size=2>On and after the Merger, Section 3.2 shall read as follows:</font></p> <p style=' margin-bottom:0pt; margin-left:0.72in; margin-top:8pt;'><font size=2>LICENSEE agrees that it will meet the following minimum use
standards either by its own performance or through or in combination with a sublicensee</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:1.08in;'><font size=2>(a)</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;text-indent:0.779999971389771in;'><font size=2>LICENSEE shall have initiated a Phase IIb or Phase III clinical trial within 3 months of validating that it has CLINICAL TRIAL MATERIAL
acceptable for such clinical trial, but in no event later than June 30, 2004. </font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:1.08in;'><font size=2>(b)</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;text-indent:0.779999971389771in;'><font size=2>LICENSEE shall have had an official end of Phase II meeting with FDA no later than September 30, 2005. </font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:1.08in;'><font size=2>(c)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;text-indent:0.779999971389771in;'><font size=2>If both a Phase IIb and Phase III clinical trial are
required by FDA, LICENSEE shall have initiated the Phase III clinical trial no later than 6 months after the end of the Phase II meeting, but not later than March 31, 2006. </font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:1.08in;'><font size=2>(d)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;text-indent:0.779999971389771in;'><font size=2>LICENSEE shall have filed a BLA for at least one
LICENSED PRODUCT no later than December 31, 2009. </font></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><font size=2>LICENSEE will give notice of meeting each milestone within ten (10) business days of its occurrence.
LICENSEE will provide semi-annual updates to HGS on clinical trial progress. For purposes of the above milestones, initiate shall mean when the first patient is dosed with CLINICAL TRIAL MATERIAL. If FDA imposes unexpected requirements unrelated to
actions by LICENSEE, LICENSEE and HGS will negotiate in good faith extension of these milestones. </font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>5.</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><u><font size=2>Section 3.3</font></u><font size=2>. Effective upon the Merger, Section 3.3 of the Amended License Agreement (Delay of Minimum Use Requirements) shall be deleted in its
entirety. </font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>6.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><u><font size=2>Section 3.4</font></u><font size=2>. Effective upon the
Merger, Section 3.4 of the Amended License Agreement (Termination of Minimum Use Requirement) shall be deleted in its entirety. </font></p> <br><p style='margin-bottom:0pt;text-align:left'><font size=2>
</font></p>
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  <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>7.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><u><font size=2>Section 6</font></u><font size=2>. Effective upon
the Merger, Section 6 of the Amended License Agreement (Option for Additional Genes) shall be deleted in its entirety. </font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>8.</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><u><font size=2>Section 8.2</font></u><font size=2>. Effective upon the Merger, Section 8.2 of the Amended License Agreement (reimbursement of patent expenses) shall be deleted in its
entirety and replaced with the following:</font></p> <p style=' margin-bottom:0pt; margin-left:0.72in; margin-top:8pt;'><font size=2>LICENSEE shall be obligated to reimburse HGS fifty percent (50%) of the reasonable expenses HGS incurs after the
Merger for the preparation, filing, prosecution and maintenance of LICENSED PATENTS. </font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>9. </font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><u><font size=2>Section 10.8.</font></u><font size=2> Effective upon the Effective Date of the Merger, a new section 10.8 shall be added as follows:</font></p> <p style='
margin-bottom:0pt; margin-left:0.72in; margin-top:8pt;'><font size=2>Upon termination by HGS on account of the failure of LICENSEE to satisfy the minimum use standards under Section 3.2, LICENSEE hereby grants to HGS an exclusive, worldwide license
to any and all information, data, technology, patents, inventions, documents, and information generated by LICENSEE under this Agreement to research, develop, import, export, use, distribute, market, promote, offer for sale and sell products.
Promptly after such termination but not to exceed thirty (30) days, LICENSEE will disclose to HGS in writing and/or provide any and all data, know-how, inventions, and technology necessary to enable HGS to fully exploit the license granted herein.
Upon termination in accordance with this Section, LICENSEE hereby grants HGS full access to and the right to refer to and cross-reference LICENSEE&#146;s INDs (including all equivalents and supplements thereto), Drug Master Files and any other
regulatory submissions to the FDA (or any similar regulatory agency(ies) of any other country) for LICENSED PRODUCTS including any clinical and other data contained therein,</font><b><font size=2> </font></b><font size=2>consistent with the purpose
of this Section. LICENSEE agrees to provide all reasonably appropriate documentation necessary to achieve such rights of reference and all other purposes herein. Upon request by HGS, LICENSEE shall further use reasonably prompt efforts to transfer
and assign any Investigational New Drug Application (INDs) (including all equivalents and supplements thereto) covering LICENSED PRODUCTS to HGS.</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>10.</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><u><font size=2>Section 12.5.</font></u><font size=2> Section 12.5 of the Amended License Agreement is hereby amended by striking the addresses of the Licensee and HGS and inserting in
their place the following:</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0.6in;'><font size=2>If to the Licensee:</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:1.8in;'><font size=2>Richard E.
Otto</font><br><font size=2>Chief Executive Officer</font><br><font size=2>430 10<sup>th</sup> Street, N.W., Suite S-204</font><br><font size=2>Atlanta, Georgia 30318</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0.6in;'><font
size=2>If to HGS:</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:1.8in;'><font size=2>Ellen S. Baron, PhD</font><br><font size=2>Senior Vice President, Business Development</font><br><font size=2>Human Genome Sciences,
Inc.</font><br><font size=2>9410 Key West Avenue</font><br><font size=2>Rockville, MD 20850</font></p> <br><p style='margin-bottom:0pt;text-align:left'><font size=2>
</font></p>
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  <p style='margin-bottom:0;margin-top:6pt;text-indent:0.6in;'><font size=2>With a Copy to:</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:1.8in;'><font size=2>James H. Davis, PhD</font><br><font
size=2>Senior Vice President and General Counsel</font><br><font size=2>Human Genome Sciences, Inc.</font><br><font size=2>9410 Key West Avenue</font><br><font size=2>Rockville, MD 20850</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>11.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>Except as otherwise expressly stated herein, all provisions of the Amended License
Agreement remain in full force and effect.</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>12.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>This Amendment may be signed
in one or more counterparts, which when taken together shall constitute one and the same Amendment.</font></p> <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font size=2>(Signatures on Following Page)</font></b></p> <br><p
style='margin-bottom:0pt;text-align:left'><font size=2>
</font></p>
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  <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><b><font SIZE=2>IN WITNESS WHEREOF,</font></b><font size=2> the parties have executed and delivered this Agreement as of the date first written above.
</font></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
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<td width="5%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><b><font SIZE=2>HGS:</font></b><br > <br > </p> </td> </tr>
<tr>
<td width="5%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><b><font SIZE=2>HUMAN GENOME SCIENCES, INC.</font></b><br > <br > </p> </td> </tr>
<tr>
<td width="5%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="37%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br > <br > </p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>By:&nbsp;</font></p> </td>
<td width="37%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br > <br > <font face="Times New Roman, Times, serif" size="2">/s/&nbsp;&nbsp;E<font size="1">LLEN</font> S. B<font size="1">ARON</font></font></p> </td> </tr>
<tr>
<td width="5%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="37%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td> </tr>
<tr>
<td width="5%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="37%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Name:&nbsp;</font></p> </td>
<td width="37%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>Ellen S. Baron</font></b></p> </td> </tr>
<tr>
<td width="5%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="37%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Title:&nbsp;</font></p> </td>
<td width="37%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>Senior Vice President, Business Development</font></b></p> </td> </tr> </table> <br> <p style=' margin-bottom:0pt; margin-top:0pt;'><font
size=2>&nbsp;</font></p>
<table align=center width="65%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
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<td width="5%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><b><font SIZE=2>LICENSEE:</font></b><br > <br > </p> </td> </tr>
<tr>
<td width="5%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><b><font SIZE=2>VASCULAR GENETICS INC.</font></b><br > <br > </p> </td> </tr>
<tr>
<td width="5%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="37%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br > <br > </p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>By:&nbsp;</font></p> </td>
<td width="37%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br > <br > <font size="2"><font face="Times New Roman, Times, serif">/s/ &nbsp;R<font size="1">ICHARD</font> E. O<font size="1">TTO</font></font></font></p> </td> </tr>
<tr>
<td width="5%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="37%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td> </tr>
<tr>
<td width="5%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="37%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Name:&nbsp;</font></p> </td>
<td width="37%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>Richard E. Otto</font></b></p> </td> </tr>
<tr>
<td width="5%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="37%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Title:&nbsp;</font></p> </td>
<td width="37%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>Chief Executive Officer</font></b></p> </td> </tr> </table> <br> <br>
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