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PIK Dividend as

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a % of fully

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diluted

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outstanding

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Class of Stock

Partner Company/Subsidiary

Effective Date ¹

capitalization

Issued

Avenue

​

February 17, 2015

2.5

%

Common Stock

Cellvation

​

October 31, 2016

2.5

%  

Common Stock

Checkpoint

​

March 17, 2015

-

%²  

Common Stock

Cyprium

​

March 13, 2017

2.5

%  

Common Stock

Helocyte

​

March 20, 2015

2.5

%  

Common Stock

Mustang

​

March 13, 2015

2.5

%  

Common Stock

Oncogenuity

​

April 22, 2020 ³

​

2.5

%

Common Stock

Urica

​

November 7, 2017 ³

2.5

%  

Common Stock

Note 1:

Represents the effective date of the Founders Agreement of each subsidiary/partner company. Each PIK dividend and equity fee is payable on the annual anniversary of the effective date of the original Founders Agreement or has since been amended to January 1 of each calendar year.

Note 2:

Instead of a PIK dividend, Checkpoint pays the Company an annual equity fee in shares of Checkpoint’s common stock equal to 2.5% of Checkpoint’s fully diluted outstanding capitalization.

Note 3:

Represents the Trigger Date, the date that the Fortress partner company/subsidiary first acquires, whether by license or otherwise, ownership rights in a product.