Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 878

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 878
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 and formal complaints
filed with the Intellectual Property Office claiming the Company was not the sole owner of the AZD 1656 co-crystal patent. See note 15
for additional details on the claim.

SARBORG
Service Agreement

On
December 12, 2024, the Company entered into a Services Agreement (the “Sarborg Service Agreement”) with SARBORG Limited
(“Sarborg”), a Cayman Islands company and related party of the Company. See Note 16 for further reference to the
relationship between the Company and Sarborg. Under the terms of the Sarborg Service Agreement, Sarborg will provide algorithmic and
cybernetic technology services to Conduit, including the development of decision-support tools and advanced cybernetic systems
tailored to enhance Conduit’s decision-making processes and maximize the value of its pharmaceutical asset
portfolio.

    F-25

Sarborg
will perform the services to Conduit comprised of three phases: the Initial Phase (0-24 weeks) focuses on establishing a foundation for
collaboration and aligning Sarborg’s services with Conduit’s strategic goals; the Development Phase (24-36 weeks) involves
building technological infrastructure, including dashboards and predictive models; and the Ongoing Services Phase (36-52 weeks) ensures
the sustained functionality and relevance of Sarborg’s deliverables while supporting Conduit’s growth through iterative improvements
and updates. Sarborg will create specific deliverables, including reports, computer programs, software applications, APIs, mobile applications,
source code, written technical specifications and designs, operating and maintenance manuals, and other recorded data and information
arising from or relating to the services. Sarborg will provide all necessary resources to perform the services and deliver the deliverables
in accordance with the Sarborg Service Agreement.

The
Sarborg Service Agreement has an initial term of 12 months, which commenced on the effective date, and may be renewed or extended
upon mutual written agreement of the parties. Either party may terminate the Sarborg Service Agreement for any reason upon 90
days’ written notice or immediately upon written notice if the other party breaches any material term of the Sarborg Service
Agreement and fails to cure such breach within thirty days or becomes insolvent, files for bankruptcy, or is placed under the
control of a receiver, trustee, or similar authority.

The
Sarborg Service Agreement includes provisions for the ownership and use of intellectual property. Sarborg will own its pre-existing