= CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. RESEARCH LICENSE AND COMMERCIAL OPTION AGREEMENTResearch License and Commercial Option Agreement • May 5th, 2020
This Research License and Commercial Option Agreement (this “Agreement”) is entered into as of the 1st day of October, 2013 (“Effective Date”) by and among 22nd Century Limited, LLC (“22nd Century”) and 22nd Century Group, Inc. (“22nd Century Group”), each with its corporate headquarters at 9530 Main Street, Clarence, New York 14031, United States of America, and British American Tobacco (Investments) Limited (“BAT”), Reg. No. 00074974, with its registered office at Globe House, 1 Water Street, London WC2R 3LA, United Kingdom.
EXHIBIT 99.2 UNCERTAINTIES RELATING TO THE PERFORMANCE OF THE RESEARCH LICENSE AND COMMERCIAL OPTION AGREEMENT MAY CAUSE THE BENEFITS UNDER THIS AGREEMENT TO BE LIMITED. The Research License and Commercial Option Agreement between Sangamo BioSciences,...Research License and Commercial Option Agreement • October 5th, 2005 • Sangamo Biosciences Inc • Biological products, (no disgnostic substances)
This agreement will terminate after 3 years if DAS fails to exercise its option for a commercial license. In addition, it may terminate after only two years if the joint committee determines that disappointing research results make it unlikely for DAS to exercise its commercial license option. The initial cash payment of $7.5 million, $4.0 million purchase of Sangamo's common stock and $4.0 million in research funding are the only payment obligations under this agreement not subject to achievement of milestones or actions at the sole discretion of DAS.
