September 21, 2023 Sorrento Therapeutics, Inc.
Exhibit 10.9
September 21, 2023
Sorrento Therapeutics, Inc.
0000 Xxxxxxxxx Xxxxx
San Diego, CA 92121
Attention: Xxxxxx X. Xxxxxx
Re: Assumption and Assignment of Legal Fees and Expenses
Ladies and Gentlemen:
Reference is hereby made to that certain Stock Purchase Agreement, dated as of September 19, 2023, by and between Scilex Holding Company, a Delaware corporation (“Scilex”), and Sorrento Therapeutics, Inc., a Delaware corporation (“Sorrento”) (as may be amended or restated from time to time, the “Purchase Agreement”). Each capitalized term used in this letter (the “Letter Agreement”) but not otherwise defined herein shall have the meaning ascribed to it in the Purchase Agreement.
Pursuant to and in accordance with Section 1 of the Purchase Agreement, Sorrento hereby assigns, and Scilex hereby irrevocably and unconditionally assumes, all of the obligations of Sorrento to Xxxx Xxxxxxxx LLP for those legal fees and expenses reflected in Xxxx Xxxxxxx LLP’s proof of claim #238 filed with the Bankruptcy Court (attached hereto as Exhibit A) in the amount of $12,249,244.09 (the “Obligations”). Scilex and Xxxx Xxxxxxxx LLP each hereby agree and acknowledge that the Obligations shall be the sole responsibility of Scilex.
Except as expressly set forth herein, this Letter Agreement will not amend, modify or otherwise affect the terms and conditions of the Purchase Agreement, which will remain in full force and effect in accordance with the terms thereof.
This Letter Agreement may be executed electronically and in one or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.
[Signature page follows]
Sincerely, | ||
SCILEX HOLDING COMPANY | ||
By: | /s/ Xxxxxx Xxxx | |
Name: Xxxxxx Xxxx | ||
Title: Chief Executive Officer and President |
[Signature Page to Scilex Assumption of Fees Letter Agreement]
ACKNOWLEDGED AND AGREED: | ||
SORRENTO THERAPEUTICS, INC. | ||
By: | /s/ Xxxxxx X. Xxxxxx | |
Name: Xxxxxx X. Xxxxxx | ||
Title: Chief Restructuring Officer | ||
The undersigned hereby consents to the assignment and assumption of the Obligations as set forth above. | ||
Xxxx Xxxxxxxx LLP | ||
/s/ Xxxx Xxxxxxxx LLP |