Material Agreement Form 8 K

On September 15, 2024, International Stem Cell Corporation (the "Company") and Dr. Andrey Semechkin agreed to extend (until September 15, 2025) the maturity date of the loan (in the principal amount of $2,900,000) from Dr. Semechkin to the Company that had been reflected in a promissory note dated September 15, 2023 (the "Original Note"), and which would have been due on September 15, 2024. In exchange for the Original Note, the Company agreed to repay $200,000 of principal amount and issued to Dr. Semechkin an unsecured, non-convertible promissory note in the principal amount of $2,700,000 (the "Note") with the extended maturity date. Dr. Semechkin is the Company's Co-Chairman and Chief Executive Officer.

The outstanding principal amount under the Note accrues interest at a rate of five and a half percent (5.5%) per annum. The Note is due and payable September 15, 2025 but may be pre-paid by the Company without penalty at any time.

The foregoing summary of the Note is qualified in its entirety by reference to the full text of the form of Note filed as Exhibit 10.1 to this Current Report on Form 8-K.