Exhibit 10.2
AMENDMENT NO. 6 TO CONSULTING AGREEMENT
This Amendment No. 6 to Consulting Agreement (“Amendment No. 6”) is made as of December 30, 2024, by and between Organovo, Inc., a Delaware corporation, with its principal place of business being 11555 Sorrento valley Road, Suite 100, San Diego, CA 92121 (“Company”) and Danforth Advisors, LLC, a Massachusetts limited liability company, with a principal place of business being 91 Middle Road, Southborough, MA 01772 (“Danforth”). Capitalized terms used but not defined herein shall have the respective meaning set forth in the Consulting Agreement by and between Danforth and the Company dated as of August 25, 2020, as amended on September 25, 2020. November 23, 2020, March 3, 2020, May 13, 2021 and October 6, 2021 (collectively “Agreement”).
WHEREAS, Danforth is engaged by the company under the terms and conditions of the Agreement and the parties hereto desire to revise the terms of the Agreement on the terms and conditions set forth more fully herein; and
WHEREAS, the Company and Danforth mutually desire to amend the scope of the Agreement.
NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained and for the other good and valuable consideration, receipt of which is hereby acknowledge, the parties hereby agree as follows:
1.Exhibit A to the Agreement is hereby modified to replace the CFO services from Thomas Hess with Norman Staskey
2.Exhibit A to the Agreement is hereby modified to allow Danforth to add the services of various Danforth employees to perform the Services required and approved, such approval to be provided verbally or by email, by the Company at each such Danforth employee’s billable rate in effect at the time they are added to the Agreement. The billable rates in effect as of the date of this Amendment No.6 are as described in Exhibit A-6.
3.Except as specifically provided for in this Amendment, the terms of the Agreement shall be unmodified and shall remain in full force and effect.
This Amendment No. 6 may be executed in one or more counterparts, each of which shall be considered an original instrument, but all of which shall be considered one and the same Amendment and shall become binding when one or more counterparts have been signed by each of the parties and delivered to the other.
IN WITNESS WHEREOF, this Amendment No. 6 has been executed by the Company and Danforth Advisors, LLC to be effective as of the date first above written.
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DANFORTH ADVISORS, LLC | | Organovo, Inc. |
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/s/ Chris Connors | | /s/ Keith Murphy |
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Chris Connors | | Keith Murphy |
Name | | Name |
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CEO | | President |
Title | | Title |
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12/30/2024 | | |
Date | | Date |
Exhibit A-6
Revised as of 12/28/2024
Description of Services and Schedule of Fees
Danforth will perform mutually agreed to finance and accounting functions which are necessary to support the management and operations of the Company including, but not limited to, the functions set forth below:
Danforth financial management and oversight services will include equity/cap table management, GAAP financial reporting, audit and tax coordination, financial modeling, budgets and forecasts, investor relations and board communication. In addition, Danforth’s services will include day to day accounting support including treasury, cash management and bank reconciliations, accounts receivable and accounts payable, journal entries and monthly financial statement preparation, streamlining of accounting procedures, systems and controls.
CFO Services ($450/hour): Norman Staskey
CFO Consultant may provide the following services:
•Serve as an officer of the Company
•Participate in longer-term strategic planning process
•Participate in financing activities, including additional capital raises and/or debt and equity restructurings
•Oversee the finance and accounting functions, including the Danforth engagement team
•Board, Audit, Compensation, and Corporate Governance committee meeting preparation, support and attendance
•Provide finance support for operational planning
•Participate in supplier contract negotiation and cost reduction planning
•Assist with corporate and business development/licensing initiatives
•Perform financial modeling, planning and analysis
•Strategic opportunity assessment
•Stock option plan management
•Capitalization table management
