EXCLUSIVE OPTION AGREEMENT by and between B.G. NEGEV TECHNOLOGIES AND APPLICATIONS LTD., an Israeli Company and SORRENTO THERAPEUTICS, INC., a Delaware (US) corporationExclusive Option Agreement • August 13th, 2013 • Sorrento Therapeutics, Inc. • Services-commercial physical & biological research • New York
Sorrento, and (iii) with respect to a Sublicensee, shall mean any entity or individual which directly or indirectly controls, is controlled by, or is under common control with, Sublicensee. For purposes of this clause 1.1, the term “control” means (i) in the case of corporate entities, the power to direct or manage the affairs of the relevant entity, or the direct or indirect ownership of at least fifty percent (50%) of such entity by voting share, equity interest, partnership interests, the right to vote for the election of directors, or otherwise; or (ii) in the case of non-corporate entities, the power to direct the management and policies of such non-corporate entities, or the direct or indirect ownership of at least fifty percent (50%) of the equity interest, of such non-corporate entities. Unless otherwise expressly specified, (i) the term Sorrento, as used in this Agreement, includes Sorrento’s Affiliates; and (ii) the term Sublicensee, as used in this Agreement, includes Sublic
