CONSIDERING that VaxGen wants to buy in Incheon Metropolitan City some land in Incheon Songdo New City, as shown in Schedule 1 (country), as site for JVC`s production sites, and Incheon Metropolitan City agrees to sell the land to VaxGen, under the conditions below. This agreement, as well as the exhibits attached to it, contains the parties` full understanding of the object contained and replaces all prior written or oral agreements made by the parties in connection with the acquisition of the country, as stated here. There are no other restrictions, promises, pacts or agreements, and no rights or obligations of any of the contracting parties must be concluded or concluded through those expressly provided for. From time to time, the contracting parties may amend, modify or amend the provisions of this agreement, but only by a written agreement duly executed by the parties. Following the transfer of this agreement to the JVC and subject to the terms of this agreement, Incheon Metropolitan City will cede the land to JVC and JVC will purchase the same. No waiver of a party Any violation of this agreement, regardless of the duration of its existence or repetition, is considered to be a waiver of a subsequent violation of this Agreement, nor any delay or omission on the part of any of the contracting parties to exercise a right, power or privilege is not considered a waiver of that right. , to this power or privilege. NOW, THEREFORE, with the intention of being linked, the parties agree that: CONSIDERANT, VaxGen and other investors implemented, on the same day as this agreement, a Special Joint Enterprise Agreement (AIC) by agreeing to the conditions under which they would create and operate the GUC; and IN WITNESS WHEREOF, the parties resulted in this agreement being executed in two copies at the time of the first copy by their duly accredited representatives. Article 9. Prohibition to take the property Article 10. Representations and guarantees of Contractantes In the event of a change (or in the event of any change or additions) to the name, name or address to which communications are to be sent in accordance with this Article 16, this notification must be sent without delay. CONSIDERING that, on October 19, 2001, VaxGen and some other investors (other investors) entered into a Memorandum of Understanding of Common Intent in which they announced their intention to establish in Korea (JVC) a joint venture to build and operate a facility in Korea, the cell culture technology granted by VaxGen for the production of a number of drugs, including , unrestricted, an HIV vaccine with a specific technology that is licensed by La VaxGen of Genentech, Inc.
The inability of a contracting party to fulfill an obligation under this Agreement as a result of God`s actions, acts of government, riots, wars, accidents or equipment or equipment or transportation, or other causes beyond its control, is not considered a violation of this Agreement, provided that the non-compliant or delayed party informs the other party in writing of the existence and nature of such a ground of non-compliance and delay. and that in the event of a force majeure event that lasts unabated for a period of one hundred and eighty days (180) days, the party that is not subject to force majeure has the possibility of terminating the contract. Article 1. Transfer of VaxGens` rights and obligations to JVC This agreement is written in Korean and English and, in the event of discrepancies, the Korean version of this agreement prevails over the English version of this agreement. If a provision of this agreement is found to be unenforceable or contrary to the law of the jurisdiction, that participation does not affect the validity of the other provisions.