<SEC-DOCUMENT>0001144204-15-054033.txt : 20150908
<SEC-HEADER>0001144204-15-054033.hdr.sgml : 20150907
<ACCEPTANCE-DATETIME>20150908161526
ACCESSION NUMBER:		0001144204-15-054033
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150901
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150908
DATE AS OF CHANGE:		20150908

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOVAVAX INC
		CENTRAL INDEX KEY:			0001000694
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				222816046
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26770
		FILM NUMBER:		151097006

	BUSINESS ADDRESS:	
		STREET 1:		20 FIRSTFIELD ROAD
		CITY:			GAITHERSBURG
		STATE:			MD
		ZIP:			20878
		BUSINESS PHONE:		240-268-2000

	MAIL ADDRESS:	
		STREET 1:		20 FIRSTFIELD ROAD
		CITY:			GAITHERSBURG
		STATE:			MD
		ZIP:			20878
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v419912_8-k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C.&nbsp;20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION&nbsp;13 OR 15(d)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): September 1, 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOVAVAX, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 34%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</td>
    <TD STYLE="width: 32%">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top; text-align: center"><b>Delaware</b></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center"><b>0-26770</b></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center"><b>22-2816046</b></td></tr>
<tr>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(State or Other Jurisdiction</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>of Incorporation)</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center"><font style="font-size: 10pt"><b>(Commission File Number)</b></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(I.R.S. Employer</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Identification No.)</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>20 Firstfield Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Gaithersburg, Maryland 20878</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of Principal Executive Offices,
including Zip Code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(240) 268-2000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Registrant&rsquo;s telephone number,
including area code) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>(Former name or former
address, if changed since last report.) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 33%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
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pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Item 1.01. Entry into a Material Definitive
Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">On September 1,
2015, Novavax, Inc. (the &ldquo;Company&rdquo;), entered into a Second Amendment to the License Agreement (the &ldquo;License Amendment&rdquo;)
with Wyeth Holdings LLC (formerly known as Wyeth Holdings Corporation, &ldquo;Wyeth&rdquo;), which amends that certain License
Agreement dated July 5, 2007 between the Company and Wyeth (as previously amended by the First Amendment to the License Agreement,
dated March 17, 2010, the &ldquo;License Agreement&rdquo;). The License Amendment, among other things, restructures a $3 million
milestone payment owed as a result of the Company&rsquo;s Indian joint venture, CPL Biologics Private Limited, initiation of a
Phase 3 clinical trial for its recombinant trivalent seasonal virus-like particle (&ldquo;VLP&rdquo;) influenza vaccine candidate
in 2014. Under the License Amendment the milestone payment, which may increase slightly over time, shall be due in connection with
the initiation of a Phase 3 clinical trial for the initial seasonal influenza VLP vaccine candidate being developed outside India,
but in any case such payment shall be due no later than December 31, 2017. The License Amendment also restructures the final milestone
payment to apply to the initial seasonal influenza VLP vaccine candidate being developed outside India. Thus, the aggregate milestone
payments for a seasonal influenza VLP vaccine candidate developed and commercialized is increased from $14 million to up to $15
million. In connection with the execution of the License Amendment, the Company agreed to pay a one-time only, upfront payment
to Wyeth. The License Amendment also increases annual license maintenance fees associated with  VLP vaccine candidates
from $0.2 to $0.3 million per year. The License Agreement as amended will remain effective as long as at least one claim of the
licensed patent rights covers the manufacture, sale or use of any product; unless terminated sooner at the Company&rsquo;s option
or by Wyeth for an uncured breach by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The foregoing
description of the License Amendment is qualified in its entirety by reference to the Company&rsquo;s License Amendment, a copy
of which is attached to this Current Report on Form 8-K as Exhibit 10.1, incorporated by reference into this Item 1.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Item 9.01. Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>Exhibits</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt"><b>Exhibit No.</b></font></td>
    <td style="vertical-align: top; width: 5%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 12%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt"><b>Description</b></font></td>
    <td style="vertical-align: bottom; width: 75%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td colspan="2" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">10.1*</font></td>
    <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td colspan="2" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><font style="font-size: 10pt; background-color: white">Second Amendment to License Agreement between Wyeth Holdings LLC and Novavax, Inc., dated as of September 1, 2015</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><BR>
* Certain information omitted pursuant to a request for confidential treatment filed with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt">&nbsp;</td>
    <TD COLSPAN="4" STYLE="padding-bottom: 5pt"><font style="font-size: 10pt">Novavax, Inc.</font><br>
<font style="font-size: 10pt">(Registrant)</font></td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-bottom: 5pt">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="width: 50%"><font style="font-size: 10pt">Date: September 8, 2015</font></td>
    <TD STYLE="width: 6%"><font style="font-size: 10pt">By:</font></td>
    <TD STYLE="width: 1%"><font style="font-size: 10pt">&nbsp;</font></td>
    <TD STYLE="width: 33%; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ John A. Herrmann III</FONT></td>
    <TD STYLE="width: 10%"><font style="font-size: 10pt">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Name:</font></td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2"><font style="font-size: 10pt">John A. Herrmann III</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Title:</font></td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2"><font style="font-size: 10pt">Senior Vice President, General Counsel and Corporate Secretary</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr>
    <TD STYLE="vertical-align: top; width: 9%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt"><b>Exhibit No.</b></font></td>
    <td style="vertical-align: top; width: 5%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt"><b>Description</b></font></td>
    <td style="vertical-align: bottom; width: 73%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td colspan="2" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">10.1*</font></td>
    <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td colspan="2" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><font style="font-size: 10pt; background-color: white">Second Amendment to License Agreement between Wyeth Holdings LLC and Novavax, Inc., dated as of September 1, 2015</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* Certain information omitted pursuant to a request for confidential
treatment filed with the SEC.</P>


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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v419912_10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[**] = Portions of this exhibit have been
omitted pursuant to a confidential treatment request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">An unredacted version of this exhibit has
been filed separately with the Commission.</P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amendment No. 2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>To the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LICENSE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Amendment is effective as of September
1, 2015 and amends the License Agreement dated as of July 5, 2007 (as previously amended, the &ldquo;Agreement&rdquo;), by and
between Wyeth Holdings LLC (formerly known as Wyeth Holdings Corporation, &ldquo;Wyeth&rdquo;), and Novavax, Inc. (&ldquo;Novavax&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Novavax has entered into a joint venture,
CPL Biologics Ltd. (the &ldquo;JV&rdquo;), with Cadila Pharmaceuticals Limited to develop and commercialize certain products in
India whereby Novavax took a minority equity position in the JV and Novavax has granted certain sublicenses under the Agreement
to the JV for India only (the &ldquo;Sublicenses&rdquo;). Novavax and Wyeth desire to amend the Agreement as set forth below in
connection with Novavax&rsquo;s participation in the JV. Capitalized terms used but not defined herein shall have the meanings
set forth in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of Wyeth and Novavax hereby agrees
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The parties acknowledge and agree that, prior to the date hereof, Novavax has terminated the Agreement
with respect to [**], and accordingly as of the date here, &ldquo;Indication&rdquo; means each of Pandemic Flu and Seasonal Flu.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Prior to the date hereof Novavax has provided to Wyeth a true and complete copy of the Sublicenses
as required by Section 2.2.3 of the Agreement. Novavax represents and warrants to Wyeth that neither Novavax nor any of its affiliates
has received or has a right to receive any payment or any other consideration for the grant of the Sublicense to the JV or for
the establishment of the JV and the contributions thereto by Novavax or its Affiliates, other than the issuance to Novavax of ownership
shares in the JV and the future payment of cash dividends and distributions to Novavax as holder of such ownership shares. Based
on the preceding sentence, Wyeth acknowledges that it is not entitled under Section 2.2.3 of the Agreement to any portion of such
ownership shares or such future dividends or distributions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Wyeth acknowledges that Novavax has granted the Sublicenses to the JV. Novavax hereby represents
and warrants to Wyeth that the JV is currently developing under the Sublicenses (a) a certain monovalent H1N1 vaccine (the &ldquo;Monovalent
JV Product&rdquo;) for Seasonal Flu and (b) a certain trivalent influenza vaccine (the &ldquo;Trivalent JV Product&rdquo; and,
together with the Monovalent JV Product, the &ldquo;JV Products&rdquo;) for Seasonal Flu, in each case for [**] in India. Novavax
represents and warrants to Wyeth that (a) neither the Monovalent JV Product nor the Trivalent JV Product is currently being developed
or studied for Pandemic Flu in any country and (b) the JV is not currently developing or studying any other Product for Pandemic
Flu. The JV Products are &ldquo;Products&rdquo; for purposes of the Agreement. Novavax further represents and warrants to Wyeth
that the JV is not currently developing a quadrivalent influenza vaccine.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">An unredacted version of this exhibit has been filed separately with the Commission.</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The parties acknowledge that (a) Novavax has already paid to Wyeth the milestone payments set forth
in Sections 3.1.3.1 and 3.1.3.2 of the Agreement with respect to a Product for Seasonal Flu, (b) Novavax has informed Wyeth that
the JV has conducted a Phase III trial for the Monovalent JV Product for Seasonal Flu in India, (c) to date Novavax has not paid
any milestone payment pursuant to Section 3.1.3.3 of the Agreement for a Seasonal Flu Product, but as of the date hereof the milestone
payment under Section 3.1.3.3 of the Agreement is due, payable and overdue with respect to the Monovalent JV Product (such payment
with respect to the Monovalent JV Product, the &ldquo;Overdue Phase III Payment&rdquo;), and (d) Novavax has informed Wyeth that
the Monovalent JV Product has received [**] in India and may achieve [**] in India in the near future, at which time the milestone
payment under Section 3.1.3.4 of the Agreement will become due and payable with respect to the Monovalent JV Product.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">Subject to the terms and conditions hereof, Wyeth and Novavax agree that payment of the Overdue
Phase III Payment, together with accrued and unpaid interest thereon under Section 3.4 of the Agreement, is waived and in lieu
thereof Novavax shall make payment to Wyeth as set forth in paragraph 5.1, 5.2, 5.3 or 5.4 below, as applicable:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt">5.1.</TD><TD STYLE="text-align: justify">If a Phase III trial of the Monovalent JV Product or any Product that is substantially the same
as the Monovalent JV Product (whether developed by Novavax or any of its Affiliates or sublicensees, such Product a &ldquo;Similar
Monovalent Product&rdquo;), or of the Trivalent JV Product or any Product that is substantially the same as the Trivalent JV Product
(whether developed by Novavax or any of its Affiliates or sublicensees, such Product a &ldquo;Similar Trivalent Product&rdquo;)
is commenced in any country other than India, and if initiation of such Phase III clinical trial (for purposes hereof, initiation
shall mean the first administration of such Product in such a trial) occurs on or prior to December 31, 2015, or if the Agreement
is terminated in its entirety or with respect to the Seasonal Flu Indication for any reason on or prior to December 31, 2015, then
in either case Novavax shall immediately pay to Wyeth [**];</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt">5.2.</TD><TD STYLE="text-align: justify">If a Phase III trial of the Monovalent JV Product, any Similar Monovalent Product, the Trivalent
JV Product or any Similar Trivalent Product is commenced in any country other than India, and if initiation of such Phase III clinical
trial (for purposes hereof, initiation shall mean the first administration of such Product in such a trial) occurs on or after
January 1, 2016 but on or prior to December 31, 2016, or if the Agreement is terminated in its entirety or with respect to the
Seasonal Flu Indication for any reason on or after January 1, 2016 but on or prior to December 31, 2016, then in either case Novavax
shall immediately pay to Wyeth [**];</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">An unredacted version of this exhibit has been filed separately with the Commission.</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt">5.3.</TD><TD STYLE="text-align: justify">If a Phase III trial of the Monovalent JV Product, any Similar Monovalent Product, the Trivalent
JV Product or any Similar Trivalent Product is commenced in any country other than India, and if initiation of such Phase III clinical
trial (for purposes hereof, initiation shall mean the first administration of such Product in such a trial) occurs on or after
January 1, 2017, or if the Agreement is terminated in its entirety or with respect to the Seasonal Flu Indication for any reason
on or after January 1, 2017, then in either case Novavax shall immediately pay to Wyeth [**]; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt">5.4.</TD><TD STYLE="text-align: justify">If Novavax has not paid any amount to Wyeth pursuant to paragraph 5.1, 5.2 or 5.3 above prior to
December 31, 2017, then Novavax shall pay to Wyeth [**] on December 31, 2017. Notwithstanding the foregoing, Novavax may voluntarily
elect, at any time prior to December 31, 2017 to pay Wyeth the Overdue Phase III Payment in the amount specified in paragraph 5.1
if paid prior to December 31, 2015, paragraph 5.2 if on or after January 1, 2016 and on or before December 31, 2016 or paragraph
5.3 if paid on or after January 1, 2017.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For the avoidance of doubt,
termination of the Agreement in its entirety or with respect to the Seasonal Flu Indication for any reason shall not relieve Novavax
of the obligation to make a payment under paragraph 5.1, 5.2, 5.3 or 5.4 above, as applicable, regardless of whether a Phase III
Trial of the Monovalent JV Product, any Similar Monovalent Product, the Trivalent JV Product or any Similar Trivalent Product has
been initiated in any country other than India as of the date of termination, and such obligation to make payment to Wyeth shall
survive any termination of the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Subject to the terms and conditions hereof, Wyeth and Novavax agree that the milestone payment
set forth in Section 3.1.3.4 of the Agreement shall not be triggered and become due and payable by the [**] of a JV Product in
India, but such milestone payment shall become payable upon [**] of a Product indicated for Seasonal Flu in any country other than
India. In consideration of the foregoing, Novavax shall make a one-time only payment of [**] to Wyeth within ten (10) days of the
effective date of this Amendment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Parties further agree for
each applicable year starting on July 5, 2015 that the annual license maintenance fee described in Section 3.1.2 of the Agreement
for the Indication of Seasonal Flu, and only that Indication, shall be $200,000 until the [**] of a Product for Seasonal Flu (other
than [**] in India as referred to above). The annual license maintenance fee for Pandemic Flu under Section 3.1.2 of the Agreement
is not affected by the foregoing. Accordingly, the total annual license maintenance fees for the period beginning July 5, 2015
is $300,000 under Section 3.1.2 of the Agreement. Wyeth hereby acknowledges that Novavax has paid $200,000 to Wyeth and will therefore
pay the additional $100,000 within ten (10) days of the effective date of this Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">An unredacted version of this exhibit has been filed separately with the Commission.</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">Novavax hereby represents to Wyeth that, to the knowledge of Novavax, the JV does not currently
intend to market, sell or distribute the Monovalent JV Product and the Trivalent JV Product simultaneously long-term in India and
that the JV intends to replace the Monovalent JV Product with the Trivalent JV Product in the market in India over time. Accordingly,
subject to the terms and conditions hereof, if Novavax pays to Wyeth on a timely basis the payments required pursuant to paragraphs
5 and 6 of this Amendment No. 2 and if the JV discontinues all direct marketing, sales and distribution of the Monovalent JV Product
in India within 24 months after the [**] of the Trivalent JV Product in India, then Novavax shall not be obligated to make any
further payments with respect to the initiation of any clinical trial of the Trivalent JV Product in or for India or the [**] of
the Trivalent Product in India. For the purposes of this Amendment, the phrase &ldquo;direct marketing, sales and distribution&rdquo;
refers to activities undertaken by or on behalf of Novavax, its Affiliates, the JV or any of their respective sublicensees, distributors,
wholesalers, resellers or similar commercial collaborators.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">Subject to paragraph 7 of this Amendment No. 2, the Parties understand that for the single Indication
of Seasonal Flu only, there may be multiple Seasonal Flu Products in development and subsequently offered for commercial sale by
Novavax or any of its Affiliates or sublicensees (e.g. a monovalent Seasonal Flu Product, a trivalent Seasonal Flu Product, a quadrivalent
Seasonal Flu Product, etc.). The Parties agree that the milestone payments set forth in Sections 3.1.3.1, 3.1.3.2, and 3.1.3.4
of the Agreement are deemed owed only on the first instance of any Seasonal Flu Product triggering such payment but may not be
owed in certain circumstances for any subsequent Seasonal Flu product or products subject to the following sentences of this paragraph
8. The Parties agree that the milestone payment set forth in Section 3.1.3.3 of the Agreement, described herein as the Overdue
Phase III Payment and owed by Novavax pursuant to the terms of Section 5 of this Amendment, shall be deemed applicable to the first
Phase III clinical trial of a Seasonal Flu Product. Notwithstanding the foregoing sentences of this paragraph 8, if in a particular
country other than India, Novavax or any of its Affiliates or sublicensees achieve a [**] of a Seasonal Flu Product (a &ldquo;Prior
Seasonal Flu Product&rdquo;), regardless of the number of influenza strains contained in such Seasonal Flu Product, and any of
them later introduces one or more additional Seasonal Flu Products in the same country (a &ldquo;Later Seasonal Flu Product&rdquo;),
regardless of the number of strains contained in such Seasonal Flu Product, Novavax shall pay to Wyeth the amount of $14 million,
which will be deemed payment of the Milestone Payments for the additional Seasonal Flu Product unless Novavax and its Affililates
and Sublicensees discontinue all marketing, sales and distribution of the Prior Seasonal Flu Product in that country within 24
months of [**] of the Later Seasonal Flu Product. For purposes of clarification, in the event that a Seasonal Flu Product is sold
in a country by Novavax or any of its Affiliates or sublicensees and any of these parties introduces an additional Seasonal Flu
Product in such country, unless all marketing, sales and distribution of any previously launched Seasonal Flu Product are discontinued
within 24 months of the [**] of the succeeding Seasonal Flu Product, then Novavax owes the $14M in Milestone Payments for the second
Seasonal Flu Product referred to above. Furthermore, this same principle applies for any subsequent Seasonal Flu Products and unless
the marketing, sales and distribution of any previously launched Seasonal Flu Product are discontinued within 24 months of the
[**] in the country of the next Seasonal Flu Vaccine, then a $14M milestone is owed for each additional Seasonal Flu Product that
achieves [**].</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">An unredacted version of this exhibit has been filed separately with the Commission.</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify">As amended and supplemented hereby, the parties confirm that the Agreement remains in full force
and effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS HEREOF, the parties hereto have
caused their duly authorized representatives to execute this Amendment No. 2 to the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>NOVAVAX, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>WYETH HOLDINGS LLC</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ John A. Herrmann</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Robert J. Smith</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:</TD>
    <TD>John A. Herrmann III</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Robert J. Smith</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD>SVP, General Counsel</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Senior Vice President</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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