Consulting Agreement - Joshua Makower, M.D.



 Exhibit 10.14 
 EXPLORAMED NC1, INC. 
 CONSULTING AGREEMENT 
 This Consulting Agreement (“Agreement”) is entered into as of June 7, 2004 by and between ExploraMed NC1, Inc. (the
“Company”) and Joshua Makower (“Consultant”). The Company desires to retain Consultant as an independent contractor to perform consulting services for the Company, and Consultant is willing to perform such services,
on the terms described below. In consideration of the mutual promises contained herein, the parties agree as follows: 
 1. Services and
Compensation. Consultant agrees to perform for the Company the services described in Exhibit A (the “Services”), and the Company agrees to pay Consultant the compensation described in Exhibit A for
Consultant’s performance of the Services. 
 2. Confidentiality. 
 A. Definition. “Confidential Information” means any non-public information that relates to the actual or anticipated business or
research and development of the Company, technical data, trade secrets or know-how, including, but not limited to, research, product plans or other information regarding Company’s products or services and markets therefor, customer lists and
customers (including, but not limited to, customers of the Company on whom Consultant called or with whom Consultant became acquainted during the term of this Agreement), software, developments, inventions, processes, formulas, technology, designs,
drawing, engineering, hardware configuration information, marketing, finances or other business information. Confidential Information does not include information that (i) is rightfully known to Consultant without restriction at the time of
disclosure to Consultant by the Company as evidenced by written records of Consultant, (ii) has become publicly known and made generally available through no wrongful act of Consultant or (iii) has been rightfully received by Consultant
without restriction from a third party who is authorized to make such disclosure. 
 B. Nonuse and Nondisclosure. Consultant will not,
during or subsequent to the term of this Agreement, (i) use the Confidential Information for any purpose whatsoever other than the performance of the Services on behalf of the Company or (ii) disclose the Confidential Information to any
third party. Consultant agrees that all Confidential Information will remain the sole property of the Company. Consultant also agrees to take all reasonable precautions to prevent any unauthorized disclosure of such Confidential Information,
[including, but not limited to, having each of Consultant’s employees and contractors, if any, with access to any Confidential Information execute a nondisclosure agreement in the form of Exhibit B]. Without the
Company’s prior written approval, Consultant will not directly or indirectly disclose to anyone the existence of this Agreement or the fact that Consultant has this arrangement with the Company. 
 C. Former Client Confidential Information. Consultant agrees that Consultant will not, during the term of this Agreement, improperly use or
disclose any proprietary information or trade secrets of any former or current employer of Consultant or other person or entity with which Consultant has an agreement or duty to keep in confidence information acquired by Consultant, if 








 
any. Consultant also agrees that Consultant will not bring onto the Company’s premises any unpublished document or proprietary information belonging to
any such employer, person or entity unless consented to in writing by such employer, person or entity. 
 D. Third Party Confidential
Information. Consultant recognizes that the Company has received and in the future will receive from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such
information and to use it only for certain limited purposes. Consultant agrees that, during the term of this Agreement and thereafter, Consultant owes the Company and such third parties a duty to hold all such confidential or proprietary information
in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out the Services for the Company consistent with the Company’s agreement with such third party. 
 E. Return of Materials. Upon the termination of this Agreement, or upon Company’s earlier request, Consultant will deliver to the Company all
of the Company’s property, including but not limited to all electronically stored information and passwords to access such property, or Confidential Information that Consultant may have in Consultant’s possession or control. 
 3. Ownership. 
 A. Assignment.
Consultant agrees that all materials, notes, records, drawings, designs, inventions, improvements, developments, discoveries and trade secrets conceived, discovered, developed or reduced to practice by Consultant, solely or in collaboration with
others, during the term of this Agreement that relate in any manner to the Company’s Confidential Information or the business of the Company that Consultant may be directed to undertake, investigate or experiment with or that Consultant may
become associated with in work, investigation or experimentation in the Company’s line of business in performing the Services under this Agreement (collectively, “Inventions”), are the sole property of the Company. All
Inventions are works made for hire to the extent allowed by law and, in addition, Consultant agrees to assign (or cause to be assigned) and hereby assigns fully to the Company all Inventions and any copyrights, patents, mask work rights or other
intellectual property rights relating to all Inventions. 
 B. Further Assurances. Consultant agrees to assist Company, or its
designee, at the Company’s expense, in every proper way to further evidence, record, perfect and secure the Company’s rights in Inventions and any copyrights, patents, mask work rights or other intellectual property rights relating to all
Inventions in any and all countries, including the disclosure to the Company of all pertinent information and data with respect to all Inventions, the execution of all applications, specifications, oaths, assignments and all other instruments that
the Company may deem necessary in order to apply for and obtain, perfect, record, evidence, maintain, enforce and defend such rights and in order to assign and convey to the Company, its successors, assigns and nominees the sole and exclusive right,
title and interest in and to all Inventions, and any copyrights, patents, mask work rights or other intellectual property rights relating to all Inventions. Consultant also agrees that Consultant’s obligation to execute or cause to be executed
any such instrument or papers shall continue after the termination of this Agreement. 
  

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 C. Pre-Existing Materials. Subject to Section 3.A, Consultant agrees that if, in the
course of performing the Services, Consultant incorporates into any Invention developed under this Agreement any pre-existing invention, improvement, development, concept, discovery or other proprietary information owned by Consultant or in which
Consultant has an interest, (i) Consultant will inform Company, in writing before incorporating such invention, improvement, development, concept, discovery or other proprietary information into any Invention, and (ii) the Company is
hereby granted a nonexclusive, royalty-free, perpetual, irrevocable, worldwide, transferable license to make, have made, modify, use and sell such item as part of or in connection with such Invention. Consultant will not incorporate any invention,
improvement, development, concept, discovery or other proprietary information owned by any third party into any Invention without Company’s prior written permission. 
 D. Attorney-in-Fact. Consultant agrees that, if the Company is unable because of Consultant’s unavailability, dissolution, mental or physical incapacity, or for any other reason, to secure
Consultant’s signature for the purpose of applying for or pursuing any application for any United States or foreign patents or mask work or copyright registrations covering the Inventions assigned to the Company in Section 3.A, then
Consultant hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as Consultant’s agent and attorney-in-fact, to act for and on Consultant’s behalf to execute and file any such applications and
to do all other lawfully permitted acts to further the prosecution and issuance of patents, copyright and mask work registrations with the same legal force and effect as if executed by Consultant. 
 4. Conflicting Obligations. 
 A.
Conflicts. Consultant represents and warrants that Consultant has no outstanding agreement or obligation that is in conflict with any of the provisions of this Agreement or that would preclude Consultant from complying with the provisions of
this Agreement. Consultant will not enter into any such conflicting agreement during the term of this Agreement. Consultant’s violation of this Section 4.A will be considered a material breach under Section 6.B.

 B. Substantially Similar Designs. In view of Consultant’s access to the Company’s trade secrets and proprietary know-how,
Consultant agrees that Consultant will not, without Company’s prior written approval, design identical or substantially similar designs as those developed under this Agreement for any third party during the term of this Agreement and for a
period of 12 months after the termination of this Agreement. Consultant acknowledges that the obligations in this Section 4 are in addition to Consultant’s nondisclosure obligations under Section 2. 
 5. Reports. Consultant also agrees that Consultant will, from time to time during the term of this Agreement or any extension thereof, keep the
Company advised as to Consultant’s progress in performing the Services under this Agreement. Consultant further agrees that Consultant will, as requested by the Company, prepare written reports with respect to such progress. The Company and
Consultant agree that the time required to prepare such written reports will be considered time devoted to the performance of the Services. 
  

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 6. Term and Termination. 
 A. Term. The term of this Agreement will begin on the date of this Agreement and will continue until the earlier of (i) final completion of
the Services or (ii) termination as provided in Section 6.B. 
 B. Termination. Either party may terminate this
Agreement upon giving the other party 14 days’ prior written notice of such termination pursuant to Section 11.E of this Agreement. The Company may terminate this Agreement immediately and without prior notice if Consultant refuses
to or is unable to perform the Services or is in breach of any material provision of this Agreement. 
 C. Survival. Upon such
termination, all rights and duties of the Company and Consultant toward each other shall cease except: 
 (1) The Company will pay, within 30
days after the effective date of termination, all amounts owing to Consultant for Services completed and accepted by the Company prior to the termination date and related expenses, if any, submitted in accordance with the Company’s policies and
in accordance with the provisions of Section 1 of this Agreement; and 
 (2) Section 2 (Confidentiality), Section 3
(Ownership), Section 4 (Conflicting Obligations), Section 7 (Independent Contractor; Benefits), Section 8 (Indemnification), Section 9 (Nonsolicitation) and Section 10 (Arbitration and Equitable Relief) will survive
termination of this Agreement. 
 7. Independent Contractor; Benefits. 
 A. Independent Contractor. It is the express intention of the Company and Consultant that Consultant perform the Services as an independent
contractor to the Company. Nothing in this Agreement shall in any way be construed to constitute Consultant as an agent, employee or representative of the Company. Without limiting the generality of the foregoing, Consultant is not authorized to
bind the Company to any liability or obligation or to represent that Consultant has any such authority. Consultant agrees to furnish (or reimburse the Company for) all tools and materials necessary to accomplish this Agreement and shall incur all
expenses associated with performance, except as expressly provided in Exhibit A. Consultant acknowledges and agrees that Consultant is obligated to report as income all compensation received by Consultant pursuant to this Agreement.
Consultant agrees to and acknowledges the obligation to pay all self-employment and other taxes on such income. 
 B. Benefits. The
Company and Consultant agree that Consultant will receive no Company-sponsored benefits from the Company. If Consultant is reclassified by a state or federal agency or court as Company’s employee, Consultant will become a reclassified employee
and will receive no benefits from the Company, except those mandated by state or federal law, even if by the terms of the Company’s benefit plans or programs of the Company in effect at the time of such reclassification, Consultant would
otherwise be eligible for such benefits. 
  

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 8. Indemnification. Consultant agrees to indemnify and hold harmless the Company and its
directors, officers and employees from and against all taxes, losses, damages, liabilities, costs and expenses, including attorneys’ fees and other legal expenses, arising directly or indirectly from or in connection with (i) any
negligent, reckless or intentionally wrongful act of Consultant or Consultant’s assistants, employees or agents, (ii) a determination by a court or agency that the Consultant is not an independent contractor, (iii) any breach by the
Consultant or Consultant’s assistants, employees or agents of any of the covenants contained in this Agreement, (iv) any failure of Consultant to perform the Services in accordance with all applicable laws, rules and regulations, or
(v) any violation or claimed violation of a third party’s rights resulting in whole or in part from the Company’s use of the work product of Consultant under this Agreement. 
 9. Nonsolicitation. From the date of this Agreement until 12 months after the termination of this Agreement (the “Restricted
Period”), Consultant will not, without the Company’s prior written consent, directly or indirectly, solicit or encourage any employee or contractor of the Company or its affiliates to terminate employment with, or cease providing
services to, the Company or its affiliates. During the Restricted Period, Consultant will not, whether for Consultant’s own account or for the account of any other person, firm, corporation or other business organization, intentionally
interfere with any person who is or during the period of Consultant’s engagement by the Company was a partner, supplier, customer or client of the Company or its affiliates. 
 10. Arbitration and Equitable Relief 
 A. Arbitration. Consultant agrees that any and all controversies, claims or disputes with anyone (including the Company and any employee, officer, director, shareholder or benefit plan of the Company, in its capacity as such or
otherwise) arising out of, relating to or resulting from Consultant’s performance of the Services under this Agreement or the termination of this Agreement, including any breach of this Agreement, shall be subject to binding arbitration under
the Arbitration Rules set forth in California Code of Civil Procedure Section 1280 through 1294.2, including Section 1283.05 (the “Rules”) and pursuant to California law. CONSULTANT AGREES TO ARBITRATE, AND THEREBY AGREES
TO WAIVE ANY RIGHT TO A TRIAL BY JURY WITH RESPECT TO, ALL DISPUTES ARISING FROM OR RELATED TO THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO: ANY STATUTORY CLAIMS UNDER STATE OR FEDERAL LAW, CLAIMS UNDER TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, THE
AMERICANS WITH DISABILITIES ACT OF 1990, THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, THE OLDER WORKERS BENEFIT PROTECTION ACT, THE CALIFORNIA FAIR EMPLOYMENT AND HOUSING ACT, THE CALIFORNIA LABOR CODE, CLAIMS OF HARASSMENT, DISCRIMINATION OR
WRONGFUL TERMINATION AND ANY STATUTORY CLAIMS. Consultant understands that this Agreement to arbitrate also applies to any disputes that the Company may have with Consultant. 
 B. Procedure. Consultant agrees that any arbitration will be administered by the American Arbitration Association (“AAA”), and
that a neutral arbitrator will be selected in a manner consistent with its National Rules for the Resolution of Employment Disputes. Consultant agrees that the arbitrator will have the power to decide any motions brought by any party to the
arbitration, including discovery motions, motions for summary judgment and/or adjudication and motions to 

  

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dismiss and demurrers, prior to any arbitration hearing. Consultant agrees that the arbitrator will issue a written decision on the merits. Consultant also
agrees that the arbitrator will have the power to award any remedies, including attorneys’ fees and costs, available under applicable law. Consultant understands that the Company will pay for any administrative or hearing fees charged by the
arbitrator or AAA, except that Consultant shall pay the first $200.00 of any filing fees associated with any arbitration Consultant initiates. Consultant agrees that the arbitrator will administer and conduct any arbitration in a manner consistent
with the Rules and that, to the extent that the AAA’ s National Rules for the Resolution of Employment Disputes conflict with the Rules, the Rules will take precedence. 
 C. Remedy. Except as provided by the Rules, arbitration will be the sole, exclusive and final remedy for any dispute between the Company and
Consultant. Accordingly, except as provided for by the Rules, neither the Company nor Consultant will be permitted to pursue court action regarding claims that are subject to arbitration. Notwithstanding the foregoing, the arbitrator will not have
the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator shall not order or require the Company to adopt a policy not otherwise required by law which the Company has not adopted. 
 D. Availability of Injunctive Relief. In addition to the right under the Rules to petition the court for provisional relief, Consultant agrees
that any party may also petition the court for injunctive relief where either party alleges or claims a violation of Sections 2 (Confidentiality), 3 (Ownership) or 4 (Conflicting Obligations) of this Agreement or any other agreement regarding
trade secrets, confidential information, nonsolicitation or Labor Code §2870. In the event either the Company or Consultant seeks injunctive relief, the prevailing party will be entitled to recover reasonable costs and attorneys’
fees. 
 E. Administrative Relief. Consultant understands that this Agreement does not prohibit Consultant from pursuing an
administrative claim with a local, state or federal administrative body such as the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission or the workers’ compensation board. This Agreement does, however,
preclude Consultant from pursuing court action regarding any such claim. 
 F. Voluntary Nature of Agreement. Consultant acknowledges
and agrees that Consultant is executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else. Consultant further acknowledges and agrees that Consultant has carefully read this Agreement and has asked
any questions needed to understand the terms, consequences and binding effect of this Agreement and fully understand it, including that Consultant is waiving its right to a jury trial. Finally, Consultant agrees that Consultant has been provided an
opportunity to seek the advice of an attorney of its choice before signing this Agreement. 
 11. Miscellaneous. 
 A. Governing Law. This Agreement shall be governed by the laws of California without regard to California’s conflicts of law rules.

  

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 B. Assignability. Except as otherwise provided in this Agreement, Consultant may not sell, assign
or delegate any rights or obligations under this Agreement. 
 C. Entire Agreement. This Agreement constitutes the entire agreement
between the parties with respect to the subject matter of this Agreement and supersedes all prior written and oral agreements between the parties regarding the subject matter of this Agreement 
 D. Headings. Headings are used in this Agreement for reference only and shall not be considered when interpreting this Agreement. 
 E. Notices. Any notice or other communication required or permitted by this Agreement to be given to a party shall be in writing and shall be
deemed given if delivered personally or by commercial messenger or courier service, or mailed by U.S. registered or certified mail (return receipt requested), or sent via facsimile (with receipt of confirmation of complete transmission) to the party
at the party’s address or facsimile number’ written below or at such other address or facsimile number as the party may have previously specified by like notice. If by mail, delivery shall be deemed effective 3 business days after mailing
in accordance with this Section 11 (E). 
 (1) If to the Company, to: 
 ExploraMed NC1, Inc. 
 2570 W. El Camino
Real 
 Mountain View, CA 94040 
 Attention: William Facteau 
 Telephone: 650 472 0308 
 Facsimile: 650 472 0338 
 (2) If to Consultant, to the address for notice on the signature page to this
Agreement or, if no such address is provided, to the last address of Consultant provided by Consultant to the Company. 
 F.
Attorneys’ Fees. In any court action at law or equity that is brought by one of the parties to this Agreement to enforce or interpret the provisions of this Agreement, the prevailing party will be entitled to reasonable attorneys’
fees, in addition to any other relief to which that party may be entitled. 
 G. Severability. If any provision of this Agreement is
found to be illegal or unenforceable, the other provisions shall remain effective and enforceable to the greatest extent permitted by law. 
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 IN WITNESS WHEREOF, the parties hereto have executed this Consulting Agreement as of the date first
written above. 
  

									
	CONSULTANT	 		 	EXPLORAMED NC1, INC.
					
	By:	 	 /s/ Joshua Makower
	 		 	By:	 	 /s/ William M. Facteau

	Name:	 	Joshua Makower	 		 	Name:	 	William M. Facteau
	Title:	 	Consultant	 		 	Title:	 	President & CEO
				
	Address for Notice:	 		 		 	
				
	  
	 		 		 	
	  
	 		 		 	
	  
	 		 		 	

  

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 EXHIBIT A 
 Services and Compensation 
  

	 	1.	Contact. Consultant’s principal Company contact: 

 Name: William Facteau 
 Title: President and CEO 
  

	 	2.	Services. The Services shall include, but shall not be limited to, the following: 

 Provide services as requested by the company. 
  

	 	3.	Compensation. 

 A. The Company will pay Consultant
$60,000 per year. 
 B. The Company will reimburse Consultant for all reasonable expenses incurred by Consultant in performing the Services
pursuant to this Agreement, if Consultant receives written consent from an authorized agent of the Company prior to incurring such expenses and submits receipts for such expenses to the Company in accordance with Company policy. 
 C. Subject to the approval of the Company’s Board of Directors (the “Board”), the Company shall grant Consultant a nonqualified stock
option to purchase 2,959,936 shares of the Company’s Common Stock at a price per share equal to the fair market value per share of the Common Stock on the date of grant, as determined by the Company’s Board. 12/36 of the Shares subject to
the option shall vest 12 months after the date your vesting begins and no shares shall vest before such date and no rights to any vesting shall be earned or accrued prior to such date and the remaining shares shall vest monthly over the following 24
months in equal monthly amounts subject to Consultant’s continuing eligibility. This option grant shall be subject to the terms and conditions of the Company’s Stock Option Plan and Stock Option Agreement, including vesting requirements.

 Every two weeks, Consultant shall submit to the Company a written invoice for Services and expenses, and such statement shall be subject
to the approval of the contact person listed above or other designated agent of the Company. 








									
	Accepted and agreed as of [            ],
[            ].
			
	Exploramed NC1, Inc.	 		 	Consultant
					
	By:	 	 /s/    William M. Facteau
	 		 	By:	 	 /s/    Joshua Makower

	Name:	 	William M. Facteau	 		 	Name:	 	Joshua Makower
	Title:	 	President & CEO	 		 	Title:	 	Chairman & Founder

  

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 EXHIBIT B 
 Form of Confidential Information and Assignment Agreement 
 N/A 







 ACCLARENT, INC. 
 FIRST AMENDMENT TO CONSULTING AGREEMENT 
 This First Amendment to the Acclarent Inc Consulting Agreement (the
“Agreement”) originally dated June 7, 2004 between Acclarent Inc (the “Company”) and Joshua Makower (“Consultant”), is effective as of October 19, 2007 and replaces exhibit A to the Agreement with the
following: 
 EXHIBIT A 
 Services and Compensation 
  

	 	1.	Contact. Consultant’s principal Company contact: 

 Name: William Facteau 
 Title: President & CEO 
  

	 	2.	Services. The Services shall include, but shall not be limited to, the following: 

 No change from original agreement 
  

	 	3.	Compensation. 

 A. The Company paid / will pay
Consultant in the following schedule: 
 June 2004 - December 2005 at $5,0000 (five thousand dollars) per month 
 January 2006 - December 2006 at $7,500 (seven thousand, five hundred dollars) per month 
 As of January 2007 the rate will be $8,500 (eight thousand, five hundred dollars) per month 
 B. The Company will reimburse Consultant for all reasonable expenses incurred by Consultant in performing the Services pursuant to this Agreement, if
Consultant receives written consent from an authorized agent of the Company prior to incurring such expenses and submits receipts for such expenses to the Company in accordance with Company policy. 
 Every two weeks, Consultant shall submit to the Company a written invoice for Services and expenses, and such statement shall be subject to the approval
of the contact person listed above or other designated agent of the Company. 








									
	CONSULT	 		 	ACCLARENT, INC.
					
	By:	 	 /s/    Joshua Makower
	 		 	By	 	 /s/    Bill Facteau

	Name:	 	Joshua Makower	 		 	Name:	 	Bill Facteau
	Title:	 	Consultant	 		 	Title:	 	President & CEO
				
	Address for Notice:	 		 		 	
				
	  
	 		 		 	
	  
	 		 		 	
	  
	 		 		 	

 For year end tax reporting purposes, we are requesting your social security/taxpayer
identification number should a payment transpire for the services you render to the Company. 
 SSN/TIN
                                        
                     
  

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