Common use of Adherence with 13-Week Cash Flow Budget Clause in Contracts

Adherence with 13-Week Cash Flow Budget. Loan Parties shall not permit total cash uses for any two week period to exceed the amount set forth in the 13-Week Cash Flow Budget for such two week period, as applicable by more than 10% without prior written approval by Administrative Agent, provided that for purposes of the foregoing, Lender Expenses and any legal expenses of the Loan Parties incurred in connection with the Loan Documents or other fees and expenses as approved by Administrative Agent as of the Effective Date or from time to time thereafter may be disregarded. [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.24)] This updated Schedule 2 is approved by the undersigned as of the Effective Date set forth above. BORROWERS: VARIATION BIOTECHNOLOGIES INC., a Canadian federal corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VBI VACCINES INC., a British Columbia corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer GUARANTORS: SCIVAC LTD., an Israeli corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VBI VACCINES (DELAWARE) INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VARIATION BIOTECHNOLOGIES (US), INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.24)] ADMINISTRATIVE AGENT: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director LENDER: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director

Adherence with 13-Week Cash Flow Budget. Loan Parties shall not permit total cash uses for any two week period to exceed the amount set forth in the 13-Week Cash Flow Budget for such two week period, as applicable by more than 10% without prior written approval by Administrative Agent, provided that for purposes of the foregoing, Lender Expenses and any legal expenses of the Loan Parties incurred in connection with the Loan Documents or other fees and expenses as approved by Administrative Agent as of the Effective Date or from time to time thereafter may be disregarded. [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.2412.26.23)] This updated Schedule 2 is approved by the undersigned as of the Effective Date set forth above. BORROWERS: VARIATION BIOTECHNOLOGIES INC., a Canadian federal corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VBI VACCINES INC., a British Columbia corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer GUARANTORS: SCIVAC LTD., an Israeli corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VBI VACCINES (DELAWARE) INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VARIATION BIOTECHNOLOGIES (US), INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.2412.26.23)] ADMINISTRATIVE AGENT: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director LENDER: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director

Adherence with 13-Week Cash Flow Budget. Loan Parties shall not permit total cash uses for any two week period to exceed the amount set forth in the 13-Week Cash Flow Budget for such two week period, as applicable by more than 10% without prior written approval by Administrative Agent, provided that for purposes of the foregoing, Lender Expenses and any legal expenses of the Loan Parties incurred in connection with the Loan Documents or other fees and expenses as approved by Administrative Agent as of the Effective Date or from time to time thereafter may be disregarded. [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.2412.12.23)] This updated Schedule 2 is approved by the undersigned as of the Effective Date set forth above. BORROWERS: VARIATION BIOTECHNOLOGIES INC., a Canadian federal corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VBI VACCINES INC., a British Columbia corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer GUARANTORS: SCIVAC LTD., an Israeli corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VBI VACCINES (DELAWARE) INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VARIATION BIOTECHNOLOGIES (US), INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.2412.12.23)] ADMINISTRATIVE AGENT: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director LENDER: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director

Adherence with 13-Week Cash Flow Budget. Loan Parties shall not permit total cash uses for any two week period to exceed the amount set forth in the 13-Week Cash Flow Budget for such two week period, as applicable by more than 10% without prior written approval by Administrative Agent, provided that for purposes of the foregoing, Lender Expenses and any legal expenses of the Loan Parties incurred in connection with the Loan Documents or other fees and expenses as approved by Administrative Agent as of the Effective Date or from time to time thereafter may be disregarded. [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.2402.06.24)] This updated Schedule 2 is approved by the undersigned as of the Effective Date set forth above. BORROWERS: VARIATION BIOTECHNOLOGIES INC., a Canadian federal corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VBI VACCINES INC., a British Columbia corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer GUARANTORS: SCIVAC LTD., an Israeli corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VBI VACCINES (DELAWARE) INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VARIATION BIOTECHNOLOGIES (US), INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.2402.06.24)] ADMINISTRATIVE AGENT: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director LENDER: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director

Adherence with 13-Week Cash Flow Budget. Loan Parties shall not permit total cash uses for any two week period to exceed the amount set forth in the 13-Week Cash Flow Budget for such two week period, as applicable by more than 10% without prior written approval by Administrative Agent, provided that for purposes of the foregoing, Lender Expenses and any legal expenses of the Loan Parties incurred in connection with the Loan Documents or other fees and expenses as approved by Administrative Agent as of the Effective Date or from time to time thereafter may be disregarded. [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.2411.28.23)] This updated Schedule 2 is approved by the undersigned as of the Effective Date set forth above. BORROWERS: VARIATION BIOTECHNOLOGIES INC., a Canadian federal corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer CEO VBI VACCINES INC., a British Columbia corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer CEO GUARANTORS: SCIVAC LTD., an Israeli corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer CEO VBI VACCINES (DELAWARE) INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer CEO VARIATION BIOTECHNOLOGIES (US), INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer CEO [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.2411.28.23)] ADMINISTRATIVE AGENT: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director LENDER: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director

Adherence with 13-Week Cash Flow Budget. Loan Parties shall not permit total cash uses for any two week period to exceed the amount set forth in the 13-Week Cash Flow Budget for such two week period, as applicable by more than 10% without prior written approval by Administrative Agent, provided that for purposes of the foregoing, Lender Expenses and any legal expenses of the Loan Parties incurred in connection with the Loan Documents or other fees and expenses as approved by Administrative Agent as of the Effective Date or from time to time thereafter may be disregarded. [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.2401.23.24)] This updated Schedule 2 is approved by the undersigned as of the Effective Date set forth above. BORROWERS: VARIATION BIOTECHNOLOGIES INC., a Canadian federal corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VBI VACCINES INC., a British Columbia corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer GUARANTORS: SCIVAC LTD., an Israeli corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VBI VACCINES (DELAWARE) INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer VARIATION BIOTECHNOLOGIES (US), INC., a Delaware corporation By: /s/ Jxxxxxx Xxxxxx Name: Jxxxxxx Xxxxxx Title: Chief Executive Officer [APPROVAL OF UPDATED FORBEARANCE TERMS (01.09.2401.23.24)] ADMINISTRATIVE AGENT: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director LENDER: K2 HEALTHVENTURES LLC By: /s/ Axxx Xxxxx Name: Axxx Xxxxx Title: Chief Investment Officer and Managing Director