Amendment No. 2 to Supply Agreement, dated effective as of September 30, 2022, by and between the Company and Biological E. Limited
[*] = Certain confidential information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential.
Exhibit 10.3
Amendment No. 2
to Supply Agreement
This Amendment No. 2, (“Amendment No. 2”) effective as of September 30, 2022 (the “Effective Date”) amends that certain Supply Agreement having an effective date of July 1, 2021, as amended to date (the “Agreement”) by and between the parties hereto (each a “Party” and collectively the “Parties”).
WHEREAS, pursuant to the Agreement, Biological E. Limited (“Customer”) ordered, and Dynavax Technologies Corporation (“Dynavax”) delivered, and/or shipped, and/or committed to supplying certain quantities of Dynavax Adjuvant to Customer;
WHEREAS, pursuant to the Agreement, Customer submitted, among other things, purchase order numbered [*] (“PO [*]”) covering [*] kilograms of Dynavax Adjuvant and, following acceptance of such PO [*] by Dynavax, pursuant to the terms of the Agreement and PO [*], PO [*] became non-cancelable by Customer;
WHEREAS, the Agreement specifies invoicing and payment terms for the deliveries of Dynavax Adjuvant to Customer;
WHEREAS, the Parties now wish to amend the Agreement in order to establish a payment schedule for (i) certain past due amounts receivable as of the Effective Date for deliveries of Dynavax Adjuvant pertaining to certain Non-CEPI allocated materials totaling [*] (the “Past Due Non-CEPI Payments”) and (ii) amounts receivable for deliveries to be made of Dynavax Adjuvant pertaining to certain Non-CEPI allocated materials (the “Remaining Non-CEPI Payments”), each as set forth herein;
WHEREAS, notwithstanding the non-cancelable nature of the order and the related costs incurred by Dynavax, Customer now desires to cancel its obligations with respect to [*] kilograms from PO [*] (the “Cancelled Portion”);
WHEREAS, in connection with PO [*], Customer made the required pre-payment of the requisite percentage of the order value, representing [*] (the “Prepayment”) applicable to the Cancelled Portion; and
WHEREAS, the Parties now desire to make a modification to PO [*] and certain other changes to payment terms as described in greater detail below.
NOW, THEREFORE, in exchange for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:
3. Upon receipt of the Credit Memo but no later than [*], Customer shall pay in cash an amount equal to the Past Due Non-CEPI Payments (i.e. [*]) less the credit set forth on the Credit Memo (i.e. [*]) for a total of [*]. In the event that Customer fails to comply with the payment terms of this Section 3, then (i) the Credit Memo shall be deemed null and void and PO [*] shall be reinstated in full and remain a non-cancelable obligation of Customer, (ii) Dynavax shall supply [*] kilograms of the Dynavax Adjuvant pursuant to the said PO, and (iii) Customer shall make the payment for the quantity of the Dynavax Adjuvant supplied as set forth in (ii) immediately preceding.
[*] = Certain confidential information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential.
(***Signature Page(s) to Follow***)
Dynavax Technologies Corporation Biological E. Limited
By: /s/ David Novack By: /s/ Mahima Datla
Title: President and COO Title: Managing Director
Date: 10/18/2022 Date: 17-Oct-2022
[*] = Certain confidential information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential.
Exhibit A
Remaining Non-CEPI Amounts
[*] shipped in [*]
[*] to be shipped on or before [*]
[*] = Certain confidential information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential.