Termination Agreement between CB Pharma Acquisition Corp. and Fortress Biotech, Inc. (May 20, 2016)

Contract Categories: Business Operations › Termination Agreements
Summary

CB Pharma Acquisition Corp. and Fortress Biotech, Inc. have mutually agreed to terminate their previous letter agreement dated December 12, 2014. As of May 20, 2016, neither party owes any further payments under the original agreement, and any outstanding amounts accrued up to this date are forgiven. This termination is final and effective immediately.

Read More Arrow
EX-10.7 8 s103305_ex10-7.htm EXHIBIT 10.7

 

Exhibit 10.7

 

TERMINATION

 

Reference is made to the letter agreement, dated as of December 12, 2014 (the “Agreement”), between CB Pharma Acquisition Corp. (the “Company”) and Fortress Biotech, Inc. (formerly Coronado Biosciences, Inc.) (the “Admin Provider”).

 

The parties hereby agree that the Agreement is terminated effective as of the date hereof and that the Company does not owe any further amounts to the Admin Provider pursuant to the Agreement and that any amounts accrued as of the date hereof pursuant to the Agreement shall be forgiven.

 

IN WITNESS WHEREOF, the undersigned have caused this termination to be executed as of May 20, 2016.

 

  CB PHARMA ACQUISITION CORP.
     
  By: /s/ Lindsay A. Rosenwald
  Name: Lindsay A. Rosenwald
  Title: CEO
   
  FORTRESS BIOTECH, INC.
     
  By: /s/ Lindsay A. Rosenwald
  Name: Lindsay A. Rosenwald
  Title: CEO