Corindus Vascular
Robotics, Inc. S-1/A


 


Exhibit 10.30


 


[***] Certain information
in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions.




 


DISTRIBUTOR
AGREEMENT





This Distributor Agreement is effective
as of the 22nd day of December, 2010 (the “Effective Date”) by and between Philips Medical Systems Nederland
B.V., having a place of business at Veenpluis 4-6, PO Box 10.000 5680 DA, Best, The Netherlands (“Philips”), and
Corindus Inc., having a place of business at 11 Erie Drive, Natick, MA, USA (“Corindus”) (individually a “Party”
and jointly the “Parties”)


WHEREAS, Distributor is engaged in the development, design,
engineering, manufacturing, marketing, sale and delivery of medical equipment and systems, including certain third party medical
equipment and systems;


WHEREAS, Supplier is engaged in the development design, engineering,
manufacturing, sale, delivery and support of the Products defined in article 1, which Products are currently being developed and
therefore not yet available on the market;


WHEREAS, as of the Effective Date, Corindus and Koninklijke
Philips Electronics N.V., an Affiliate of Philips, are concurrently entering into a Series D Preferred Stock Purchase Agreement
(the “Stock Purchase Agreement”), pursuant to which, among other things, such Philips entity shall make an equity
investment in Corindus, as contemplated under the terms of such Stock Purchase Agreement;


WHEREAS, Distributor and Supplier wish to agree to appoint
Distributor to be Supplier’s distributor of the Products defined herein;


WHEREAS, Distributor and Supplier wish Distributor’s
appointment to be exclusive for the Initial Term of this Agreement as an incentive for Philips to make significant investment in
selling these new Products on the market and to ensure a successful market entry.


WHEREAS, the Parties hereto wish to set forth in this Agreement
the terms and conditions under which Distributor will purchase from Supplier and Supplier will sell and deliver to Distributor
the Products; and


NOW, THEREFORE, in consideration of the premises and mutual
promises, the representations, warranties, covenants and agreements contained herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:


ARTICLE
1. DEFINITIONS


For purposes of this Agreement, the following terms have
the following meanings:


		1.1.	“Affiliate” means a corporation or other business entity controlled by, controlling
or under common control with a Party. For this purpose “control” means that more than 50% of the controlled entity’s
shares or ownership interest representing the right to make decisions for such entity are owned or controlled, directly or indirectly,
by the controlling entity.



		1.2.	“Agreement” means this Agreement including any Attachments hereto.



		1.3.	“Background IPR” shall mean any and all Intellectual Property Rights, other
than Foreground IPR: (a) which are owned or controlled by a Party or any of its Affiliates at the Effective Date or (b) in respect
of which ownership or control is acquired by a Party or any of its Affiliates during the Term of this Agreement as a result of:
(i) activities conducted outside the framework of this Agreement or (ii) any transaction with a third party;



 




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		1.4.	“Change of Control” means with respect to Supplier (a) the sale of all or substantially
all of the assets of the Supplier, or (b) a merger, consolidation or other reorganization of the Supplier which results in more
than 50% of the voting stock of the resulting or surviving entity being owned or held by persons other than those owning or holding
the voting stock in Supplier immediately prior to such transaction, or (c) the sale by one or more stockholders of the Supplier,
in a single transaction or series of related transactions, of more than 50% of the voting stock of the Supplier to one or more
third parties who are at the time of such sale unaffiliated with any stockholders of the Supplier. A “Qualified Public Offering”
(as defined in Corindus’ certificate of incorporation) shall not be a “Change of Control” under this Agreement.



		1.5.	“Competitor Equipment” means the various versions of catheterization labs of
Philips competitors with which the Products can be used.



		1.6.	“Confidential Information” means all documents and other information, provided
by or on behalf of a Party or any of its Affiliates directly or indirectly, before (in accordance with that certain Confidentiality
Agreement, dated as of October 6, 2009, as amended) or after the Effective Date, in whatever form, including orally, relating to
this Agreement, provided that any information will not be Confidential Information to the extent that the information:



		(a)	is or becomes generally available to the public without violation of this Agreement or any other
obligation of confidentiality;



		(b)	is known by the recipient prior to disclosure by the provider;



		(c)	is lawfully obtained by the recipient from a third party without any breach of confidentiality
or violation of law; or



		(d)	is independently developed by the recipient without use or reference to the Confidential Information
of the provider.



		1.7.	“Customer” means the customer of Distributor that purchases and/or uses the
Products delivered by Distributor within the framework of this Agreement, provided that Distributor acknowledges that the Product
is a regulated medical device and so may only be sold in compliance with laws.



		1.8.	“Disposables” means the sterile, disposable cassettes and other disposable items
specific to the Product such as drapes, etc., that are needed to perform clinical procedures with the Product.



		1.9.	“Distributor” means Philips Medical Systems Nederland B.V. and any of its Affiliates,
that form the Philips Healthcare sales organization that participate in the Agreement, by issuing a Purchase Order; provided that
Philips shall be liable for any breach of this Agreement by such Affiliate.



		1.10.	“Distributor Equipment” means the various versions of the Philips catheterization
labs with which the Products can be used.



		1.11.	“Distributor Indemnitees” means Distributor and Distributor’s successors,
permitted assigns, permitted Distributors’ sub distributors and Customers.



		1.12.	“Effective Date” means the date first written above.



		1.13.	“Foreground IPR” shall mean any and all Intellectual Property Rights in any
result of (the activity of either Party or both of them) under this Agreement.



		1.14.	“Philips Integration Kit” and “Integration Kit” means the
Integration Kit package that will be developed for delivery with the Products as further specified in Attachment 1.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 2 of 27



    	 



    

 


		1.15.	“Intellectual Property Rights” or “IPR” shall mean patents, utility
certificates, utility models, industrial design rights, copyrights, database rights, trade secrets, any protection offered by law
to Information, semiconductor IC topography rights and all registrations, applications, renewals, extensions, combinations, divisions,
continuations or reissues of any of the foregoing.



		1.16.	“Force Majeure Event” means any earthquake, flood, fire, riot, war, terrorism,
embargo or any other act of God or any event which is beyond the reasonable control of the Party claiming the force majeure event.



		1.17.	“Local Agreements” means the agreements, if any, as listed in Attachment
5, between Distributor and Supplier with respect to a particular country.



		1.18.	“Minimum Customer Satisfaction Requirements” means the minimum customer satisfaction
targets that Supplier will achieve as described in Attachment 7, for which breach Distributor’s sole remedy is the
termination right as described in article 16.2.



		1.19.	“Minimum Distributor Requirements” means the minimum purchase volume that Distributor
must achieve as described in attachment 7, for which breach Supplier’s sole remedy is the termination right as described
in article 16.3. For clarification purposes, the Minimum Distributor Requirements do not establish minimum purchase obligations
of Distributor.



		1.20.	“Open License Terms” means any and all terms in any license that require as
a condition of use, modification and/or distribution of a work (1) the making available of source code or other materials preferred
for modification, or (2) the granting of permission for creating derivative works, or (3) the granting of a royalty-free license
to any party under intellectual property rights regarding the work and/or any work that contains, is combined with, requires or
otherwise is based on the work.



		1.21.	“Open Source Software” means any software that is licensed under Open License
Terms. 1.22.



		1.22.	“PCI” means percutaneous coronary interventions.



		1.23.	“Price” means the price specified in Attachment 1.



		1.24.	“Product” means the CorPath Systems as specified in Attachment 1 (including
materials, sub-assemblies, accessories or software incorporated therein), but excluding the Disposables.



		1.25.	“Purchase Order” means any written or electronic purchase order issued by Distributor
to Supplier for a Product, each of which will be governed by and subject to the terms of this Agreement.



		1.26.	“Service Part” means a spare, repair or replacement part for a Product, including
any part listed in Attachment 2.



		1.27.	“Specifications” means the specifications, descriptions, design criteria, drawings,
samples, prototypes and other requirements relating to the Products provided in writing by Supplier from time to time to define
the Products.



		1.28.	“Supplier” means Corindus Inc. and its participating Affiliates that provide
Products hereunder; provided that Corindus shall be liable for any breach of this Agreement by such Affiliate.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 3 of 27



    	 



    

 


		1.29.	“Sustainability Agreement” means the Sustainability Agreement between Distributor
and Supplier to be agreed upon no later than May 1, 2011.



		1.30.	“Technical Failure” means the failure to meet the required level of technical
performance of the Products, in terms of the following:



(i) The Products
shall perform in accordance with all regulatory required quality standards and materially conform to the relevant Specifications;


(ii) The Products
shall be free of epidemic failures, meaning technical failures with the same root cause with an occurrence of higher than 10 Products.


(iii)The Products
shall achieve acceptable reliability standards, defined as less than eight (8) technical field calls per unit of Product per year
in average for all Products.


		1.31.	“Territory” means worldwide.



		1.32.	“US Territory” means the fifty states of the United States of America.



ARTICLE
2. SCOPE AND INTENT


		2.1.	Appointment, Exclusivity. Subject to the terms and conditions of this Agreement, Supplier
hereby appoints Distributor to be Supplier’s exclusive distributor for the promotion and sale of the Products in the Territory.



 With
“exclusive” meaning that Supplier will not sell in the Territory any of its Products to other parties during
the term of this Agreement and Distributor will in turn not sell any other robotic systems designed and specifically approved
for use for PCI in the US Territory and, for the rest of the Territory, Distributor will not market and sell any other
robotic systems to the interventional cardiology customer segment for use in PCI. 


Distributor may, upon prior approval
of Corindus, which will not be unreasonably withheld, appoint subdistributors to promote and sell the Products on behalf of Distributor.
Distributor will obligate its subdistributors to adhere to the terms applicable to Distributor under this Agreement and shall be
liable for any breach of this Agreement by such subdistributor.


		2.2.	Sales. Distributor may purchase and shall take delivery of ordered Products from Supplier,
and Supplier will be responsible to design, develop, manufacture, sell the Products in accordance with the terms and conditions
of the Agreement and will use reasonable efforts to deliver to Distributor the volumes and versions of Products ordered by Distributor,
for resale on an exclusive basis in the Territory under the Supplier’s brand name, in combination with or separately from
Distributor Equipment or for use with Competitor Equipment.



Supplier shall notify Distributor
of any leads or inquiries that it receives from parties expressing interest in purchasing or having a demonstration of the Products,
in accordance with a process to be mutually agreed by the Parties. Field marketing and application training will be Supplier’s
responsibility, meaning that Supplier will develop at its own cost a field marketing product specialist team which will be responsible
for:


		(a)	promoting the Product to potential Customers with already installed Distributor Equipment or Competitor
Equipment, after clear alignment on leads and in close cooperation with Philips sales team,



		(b)	sales support to Philips sales team such as product demonstrations and proposition selling to potential
Customers and



[***]
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treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 4 of 27



    	 



    

 


		(c)	designing, developing and conducting a training program for the Philips sales team, provided that
Philips will remain responsible for ensuring that all members of its sales organization that are involved in sales of the Product
are adequately trained on a regular basis on the Product value proposition.



The Parties’ sales and marketing
activities for the US Territory are set forth in Attachment 2 (US Marketing & Sales), as may be amended by mutual agreement
of the Parties. The Parties’ other sales and marketing activities for other countries in the Territory will be negotiated
in good faith and documented in Attachment 3 (ROW Marketing and Sales) and Attachment 6 (Countries for sale of the
Products). Once such sales and marketing activities are finalized and set forth in the applicable Attachment, each Party shall
use reasonable efforts to conduct the activities assigned to such Party in accordance with such Attachment.


		2.3.	Installation, Service, Warranty.



(a) Supplier will
install, warrant, service and support the Products, for its own account and risk and directly to the Customers, subject to Section
2.9, the remainder of this Section 2.3, and Article 11. As between the Parties, Supplier will have the sole right and responsibility
for:


		(a)	managing customer acceptance,



		(b)	preventative and corrective maintenance, including corrective action requests (CAR), field change
orders and upgrades,



		(c)	monitoring quality performance, spare parts usage and call rates, and



		(d)	any other customer support activities (including spare parts sales and product warranty service
for the legally required period in the relevant sales territories) for both the Products and Disposables as may be further described
on Attachment 4, including regulatory reporting for adverse events for the Product and Disposables, it being understood that Supplier
shall use reasonable efforts to undertake such activities in compliance with a process to be mutually agreed by the Parties for
coordinating service support to Customers and for driving timely Customer acceptance, including a process for managing the point-of-sale
service contract.



The Parties may
consider other opportunities for synergy between both Parties’ service organizations and, if Corindus intends to outsource
its service and customer support functions for the Product to any non-Affiliate third party, Corindus will inform Philips and not
outsource such service and customer support functions to any imaging systems competitor of Philips.


(b) With respect
to service support and Service Parts to be provided by Supplier, Supplier will provide such service support, Service parts and
Disposables for no less than 5 years after end-of-life delivery of the Products.


		2.4.	Adoption of the Products. Supplier will be solely authorized and responsible for selling
related Disposables to Customers and to perform such training and application support necessary to assist Customers’ adoption
of the Product and Disposables. In particular, Supplier will develop at its own cost a clinical field organization for Customer
training, education and system use with the goal of executing such adoption plan, maturing the Products value proposition and driving
Customer usage of Disposables. In order to enable Philips’ understanding of the Product value proposition, Corindus shall
periodically share information on the adoption rate and cassette usage as set forth in the Business Metrics – Attachment
7. If Supplier is unable to provide Disposables adequately enough to support the installed base of Products, Corindus and Philips
will mutually discuss appropriate modifications to the distribution requirements set forth in Attachment 7.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




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		2.5.	Conflicts. The Parties will perform their activities in accordance with the terms of this
Agreement, the Sustainability Agreement and the Attachments. In the event of any conflict between any provision of this Agreement
and any provision of any Attachment, the provisions of this Agreement will prevail. In the event of any conflict between any provision
of this Agreement and any provision of the Sustainability Agreement, the provisions of this Agreement will prevail.



		2.6.	Local Agreements. The activities described in this Article 2 shall be carried out directly
by Supplier and Distributor according to (a) the terms and conditions as set out in this Agreement, and (b) the additional terms
and conditions defined for each country or region in Local Agreements, if any. This Agreement sets out the principles and framework
for the underlying Local Agreements. In case of conflict among the Local Agreements and this Agreement, this Agreement will prevail.



		2.7.	Business Metrics, Minimum Requirements. The Parties agree that they will track the performance
of their activities hereunder in accordance with the set of quarterly and annual business metrics (per country) as defined in Attachment
7 in order to set mutual expectations and to provide guidance as to their performance in the US Territory and the rest of the
Territory. Attachment 7 contains a set of Minimum Distributor Requirements per Territory for Distributor as well as a set
of Minimum Customer Satisfaction Requirements for Supplier. Both Parties will use reasonable efforts to meet its respective requirements.
The Parties’ sole remedy for the other Party’s failure to meet these criteria will be the right to terminate this Agreement
in accordance with article 16.3 or article 16.2, as applicable, below.



		2.8.	Product Commercialization Plans. Distributor’s right to sell into certain
                                                                countries is limited by regulatory clearances available for sale of the Products into such country. The countries into which
                                                                the Products will be sold will be mutually agreed upon between the Parties and laid down in Attachment 6 –
                                                                Countries for sale of the Products, provided that Supplier will be solely responsible to drive regulatory clearance of the
                                                                Product and Disposables in such countries, and the Parties agree to enter the US Territory as a first priority. Detailed product
                                                                commercialization plans                                                                 in
                                                                targeted markets will be jointly agreed between the                                                                 Parties
                                                                in Attachments 2 and 3 along with deciding on relevant
                                                                business metrics and minimum requirements for each such territory/market to be documented in Attachment 7. Each
                                                                product commercialization plan may be amended by mutual agreement of the Parties. It is anticipated that each product
                                                                commercialization plan (including any mutually-agreed amendments thereto) shall include anticipated milestones and
                                                                responsibilities to be conducted by the Parties for the applicable territory/market. Once the product commercialization plan
                                                                is mutually-agreed for a particular territory/market, each Party shall use reasonable efforts to conduct the activities
                                                                assigned to such Party under such plan.



		2.9.	Integration Kits. Distributor will develop and manufacture a Philips Integration Kit, which
will be delivered by Distributor to Customers who aim to use the Products in combination with the Distributor Equipment. Corindus
will provide Distributor information about the Products necessary for Distributor to develop the Philips Integration Kit and will
provide Distributor notice of any change to the Product that may affect the functionality of the Philips Integration Kits in accordance
with Paragraphs 5.3 and 5.4 below. Installation of the Philips Integration Kit and the Product will be coordinated between the
Parties in accordance with a process to be mutually agreed by the Parties, including process for readying the Customer site for
installation and coordination with Philips’ installation of the Distributor Equipment (if necessary). Development and availability
of similar Integration Kits for use of the Products in combination with Competitor Equipment will be responsibility of Supplier
in cooperation with imaging and hemodynamic vendors. Such Integration Kits are intended to be available for sale upon regulatory
clearance of the Products, but if Supplier is unable to provide an Integration Kit for certain Competitor Equipment, Corindus and
Philips will mutually discuss appropriate modifications to the distribution requirements.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




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		2.10.	Joint Development. The
                                         Parties may enter into a separate development agreement to jointly develop improvements
                                         that are designed to enhance and improve the functionality of the Products used together
                                         with Distributor Equipment. During the Term, Corindus agrees not to enter any joint development
                                         integrate the Product with any 3rd party x-ray imaging company other than
                                         as necessary to provide the Integration Kit.



		2.11.	The following attachments form an integral part of this Agreement:



		1.	Products, Integration Kits, Specifications and Prices



		2.	Marketing, Sales & Service US



		3.	Marketing, Sales & Service ROW (to be added later)



		4.	Service Parts and Service (to be added later)



		5.	Logistics (to be added later)



		6.	Countries for sale of the Products



		7.	Business Metrics, Minimum Distributor Requirements and Minimum Customer Satisfaction Requirements



		8.	Branding (to be added later)



		9.	Quality



ARTICLE
3. TERM


		3.1.	This Agreement will commence on the Effective Date and will remain in force thereafter for
                                                                two (2) years after the later of (a) Product and Disposables 510(k) clearance by the FDA; or (b) the date on which Corindus
                                                                has                                                                 an inventory of the Product and Disposables that are
                                                                released for shipment to Customers, sufficient in number to meet the Q1
                                                                Minimum Distributor Requirements set forth in Attachment 8 (the “Initial Term”), unless terminated
                                                                earlier                                                                 as provided herein. Thereafter, this Agreement will
                                                                automatically expire, unless both parties negotiate and agree to extend
                                                                the agreement on mutually agreeable terms. The Initial Term plus any renewal term(s) are herein referred to as the
                                                                “Term”.



ARTICLE
4. GOVERNANCE


		4.1.	Distribution Steering Committee. Promptly following the Effective Date, the Parties shall
establish a Distribution Steering Committee composed of two (2) representatives of each Party, who may be re-designated from time
to time upon notice to the other Party. The Distribution Steering Committee is established to oversee the Parties’ performance
under this Agreement consistent with the intent and scope of the Agreement, and resolve disputes arising from performance, consistent
with such intent and scope, as set forth below. The Distribution Steering Committee shall meet at least once per quarter (in person
or by teleconference) during the Term.



		4.2.	Management Committee. Also promptly following the Effective Date, the Parties shall establish
a Management Committee composed of representatives of each party who have expertise in or management responsibility for the operational
aspects of their respective performance obligations, and may, by other mutual agreement, add other members who may represent the
qualifications necessary for these operational aspects. Members may be re-designated from time to time upon notice to the other
Party. The Management Committee shall determine its meeting schedule, with meetings at least monthly (in person or by teleconference).
It shall be responsible for setting, reviewing and revising operational plans, with the intent to meet the Parties’ respective
obligations under this Agreement. Subject to mutual agreement of the Parties on such plans, the Party specifically designated as
being responsible for a particular activity under such plans shall have operational control over such activity. At each meeting
of the Management Committee, each Party shall share updates concerning the activities performed by such Party during the prior
month, including, as applicable, updates on sales funnel, lead generation, potential customers interested in the Product, marketing
and sales activities, and, in the case of Corindus, information about quality performance, spare part usage, call rates and corrective
action requests. Any member of the Management Committee may bring a matter within the scope of the Management Committee to the
Management Committee for review and/or decision.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




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		4.3.	Escalation. If the Management Committee is not able to unanimously agree upon matters, the
dispute shall be referred to the Distribution Steering Committee which shall then promptly meet to address the matter. If the Distribution
Steering Committee cannot unanimously agree upon the matter, then no agreement has been made and either Party may present such
matter for resolution in accordance with article 18.6. In addition, the parties agree to bring all disputes arising from performance
or alleged breach of this Agreement, including without limitation, meeting Minimum Distribution Requirements and Minimum Customer
Satisfaction Requirements, to the Distribution Steering Committee for dispute resolution in accordance with article 18.6 below,
prior to initiating any rights it may have under the Agreement, including terminating the Agreement.



		4.4.	Costs. Each party shall pay for its own expenses in connection with participating in meetings
of the Distribution Steering Committee or Management Committee.



ARTICLE
5. PRODUCT REQUIREMENTS AND PRODUCT CHANGES


		5.1.	Regulatory Ownership and Supplier Responsibilities. As between the Parties, Supplier will
be responsible for obtaining regulatory clearance for the Products and Disposables into the countries to which the Parties agree
for Distributor to sell the Products. Supplier shall retain ownership of all regulatory filings and clearances for Products and
Disposables. Supplier will cooperate with Distributor to perform risk assessment on the combined offering of the Products with
Distributor Equipment and Supplier will share content and status of the Product clinical trial results with Distributor during
the scheduled review meetings. As between the Parties, Supplier is responsible to prepare, design and conduct at its own expense
all clinical science activities with respect to the Products, including but not limited to all required clinical trials required
to gain regulatory clearance in the agreed countries in Attachment 6 and post approval clinical trials and studies to further
collect data and support additional clinical claims of the proposition as well as to provide Product documentation and to comply
with all requirements on localization of the Product. Supplier will use its reasonable efforts to have each clinical site, that
is participating in a Supplier operated clinical trial and that operates Distributor Equipment, use the Product in combination
with the Distributor Equipment during the clinical trials. Supplier will appoint an Authorized Representative or similar where
needed by law in each country where Distributor is authorized to sell the Product.



		5.2.	Regulatory compliance. All regulatory responsibility for the Products and the Disposables,
including but not limited to regulatory reporting, belongs to Supplier. The Parties will immediately inform each other of any adverse
events, including without limitation customer complaints, material product defects or patient injuries related to or reported on
the Product or Disposables that is reported to the FDA or other regulatory authority. Any event that fits the definition in the
previous sentence but is not an event that is reportable to regulatory authorities will be discussed on a monthly basis in the
Management Committee. All regulatory documentation will be shared with Distributor as required for Distributor to fulfil its obligations
under this Agreement.



		5.3.	Change Process. Supplier may change, substitute or modify the Products.



[***]
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treatment has been requested with respect to the omitted portions. 




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		5.3.1	With respect to any substantial change, substitution or modification leading to a substantial change
in the Specifications Supplier shall notify the Distributor as set forth in this Section 5.3.3



		5.3.2	In case of substantially adverse changes and/or the way the Products interact with Distributor’s
Products, Supplier will seek agreement from Distributor by means of a written change request prior to implementing any such changes
which will not be reasonably withheld. Supplier will provide to Distributor a written description of the expected effect of such
changes. Distributor will make reasonable efforts to respond within 5 business days.



		5.3.3	At the monthly Management Committee meetings, Supplier will inform Distributor of any other substantial
changes to the Products.



		5.4.	Mandatory Changes. Supplier will make such changes to the Specifications as are mandated
by the appropriate governmental or legal authorities, and, provided that the Product met applicable safety standards and other
governmental requirements at the time of manufacture, Supplier will bear the costs of any subsequent upgrade, substitution or other
change required.



If any such changes will require
a change to the Integration Kits, Supplier will provide reasonable information to Distributor for it to change the Philips Integration
Kit (and Distributor will change the Philips Integration Kit) and Suppler will use reasonable efforts to update relevant Integration
Kits for Competitor Equipment.


		5.5.	End-of-Life Materials and Components. Changes to the Products required as a result of material
or component obsolescence or non-availability will be completed by Supplier at its sole cost and expense.



ARTICLE
6. PRICES


		6.1.	The Prices to be charged by Supplier to Buyer for the Products are set forth in Attachment 1.
All Prices are fixed prices and may be renegotiated in the fourth quarter after sales. The Parties may agree on a different price
upon negotiation and as to be laid down in a particular Purchase Order. All license fees for the Products are included in the Price.



		6.2.	Prices are exclusive of any federal, state or local sales, use or excise taxes and any, value added
tax (VAT). Supplier will list separately on its invoice any tax lawfully applicable to the relevant Purchase Order and payable
by Distributor, if any, with respect to which Distributor does not furnish evidence of exemption. Supplier is responsible for paying
any applicable VAT, sales tax, consumption tax or any other similar tax to the appropriate tax authorities. Supplier will issue
an invoice containing wording that will allow Distributor to take advantage of any applicable “input” tax deduction.
In addition, Supplier will inform Distributor whether Distributor is allowed to apply for an exemption if and to the extent allowed
under applicable law in such specific situation.



ARTICLE
7. TARGETS, PLANNING AND ORDERING


		7.1.	Planning & Minimum Distributor Requirements. Supplier acknowledges that Distributor’s
ordering of Products is subject to market demands. Distributor is not obligated to meet any minimum purchase commitment. Distributor
will in no way be liable for Supplier’s commitments or production arrangements. However, the Parties agree to the Minimum
Distributor Requirements as laid down in Attachment 7. Other than described in article 16, Supplier will have no other remedy in
case Distributor fails to meet such requirements.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




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		7.2.	Ordering. Only Purchase Orders placed by Distributor (except for blanket purchase orders
placed for estimated annual purposes, which are expressly stated to be not binding on Distributor) and accepted by Supplier will
create a binding obligation on Supplier to ship Product and on Distributor to take delivery and make payment for the Products so
ordered. Supplier will acknowledge acceptance of Purchase Order by returning a signed confirmation of the Purchase Order to Distributor
on the form required by Distributor.



Supplier shall
not be entitled to reject Purchase Orders unless Distributor does not comply with the standard lead times agreed between the Parties
in the Logistics Agreement and as may be updated monthly at the Management Committee meetings, the Purchase Order is not otherwise
in accordance with this Agreement, in case of Force Majeure Event or in case Distributor is in breach of any of its obligations.
The Parties will define reasonable lead-time(s) in the Logistics Attachment and revise them if required for new Purchase Orders
during the Management Committee Meetings for the sake of clarity, in no event will Supplier be required to accept a Purchase Order
if Distributor wishes to purchase for a different Price, in case of a Force Majeure Event, if the Purchase Order is not in compliance
with this Agreement, or in case Distributor is in breach of any of its obligations. If a Purchase Order is not accepted by Supplier,
Supplier will provide Distributor written notice of rejection or acceptance of a Purchase Order within three (3) business days
after receipt of such Purchase Order. Failure by Supplier to deliver a Rejection Notice in a timely fashion will be deemed acceptance
by Supplier of the Purchase Order.


		7.3.	Discontinuation of Production. If Supplier intends to discontinue production of a Product,
Service Parts or Disposables, Supplier will inform Distributor thereof in writing at least twelve (12) months prior to the date
of the planned production stop. Distributor may place an end-of-life Purchase Order for the Products in such quantity as Distributor
may reasonably require, and Supplier will accept such Purchase Order at a price agreed upon by the Parties which will not be higher
than the Price directly preceding the notification of production stop.



ARTICLE
8. DELIVERY


		8.1.	Delivery Conditions. Supplier will comply with all terms and conditions for delivery set
forth in Attachment 5 (Logistics) to the extent agreed upon by the Parties. Unless expressly agreed otherwise in writing, Supplier
will deliver at its cost all Products to the Customer address where the Product(s) shall be installed according to Customer’s
reasonable instructions (as conveyed to Supplier by Distributor).



		8.2.	Packing. Supplier shall be responsible for any loss or damage due to its failure to properly
preserve, package and handle the Products. Products shall be prepared for delivery in conformance with good commercial practice
and labeled with the agreed details such as ship to address, code numbers and packing list, all as set forth in the Attachments
hereto. Products shall be boxed, crated, carted and stored without charge and in a manner that:



		(a)	they arrive undamaged and safe at their ultimate destination;



		(b)	secures reasonable costs for transportation, storage and handling at Customer’s premises;



		(c)	complies with requirements of modes of transport; and



		(d)	complies with the applicable environmental regulations.



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		8.3.	Timely Delivery. Regarding timely delivery of Products, the Parties agree that time is of
the essence under this Agreement subject to Section 17. Supplier shall deliver the Products on the delivery date specified in the
Purchase Order, or within 10 days before (the “Delivery Date”), or the revised Delivery Date if Distributor reasonably
requests so. Supplier will immediately notify Distributor of any prospective inability to meet the Delivery Date.



		8.4.	If Supplier does not deliver the Products on or before the Delivery Date, Distributor may, without
prejudice to any other rights accruing under this Agreement or under applicable law, cancel all or any part of the corresponding
Purchase Order or the Prices of the Products delivered late will be reduced by 1% for each day late, with a maximum reduction of
10% in total.



		8.5.	If Supplier is unable to deliver the Products by the Delivery Date using the specified method of
transportation, the Products affected will be shipped by air transportation or other expedient means accepted by Distributor, for
which any resulting increase in the freight costs are at Supplier’s expense.



		8.6.	Products delivered more than ten business days before the Delivery Date may, at Distributor’s
option either (i) be returned for conforming delivery at Supplier’s risk and expense, including transportation charges for
returned and replacement Products, (ii) have payment therefore withheld with Distributor until the date that payment would
be due based on the Delivery Date set forth in the Purchase Order, or (iii) be placed in storage for Supplier’s account until
Delivery Date specified therein.



		8.7.	Complete Delivery. Supplier may not overship or undership Products. In either case, Supplier
will alert Distributor in a timely manner. Supplier will recover any overshipments or ship additional Products to cover undershipments.
All overshipments returned to Supplier, and all additional Products shipped by Supplier to cover undershipments, will be at Supplier’s
risk and expense, including transportation charges.



ARTICLE
9. INVOICING AND PAYMENT


		9.1.	Invoicing. Supplier may invoice [***] of the price agreed on the Purchase Order at shipment
and the remainder after Customer’s acceptance of the Products and must submit invoices no later than six (6) months after
acceptance of Products. If Distributor causes delay of Customer’s acceptance by more than 10 days, then Supplier may invoice
the remainder after expiration of 10 days after (planned) installation of the Products at the Customer’s site.



		9.2.	Payment.



		9.2.1	Distributor will pay invoices within [***] of the end of the month in which Distributor receives
a correct and complete invoice from Supplier, issued in accordance with this Agreement. If requested by Distributor, Supplier will
take such actions as may be required to allow Distributor to make payments to Supplier hereunder via electronic funds transfer.
Distributor will be entitled to all applicable prompt payment discounts offered by Supplier.



		9.2.2	Payment of the invoice does not imply any admission that the delivery is in conformance with the
Agreement, nor does it release either Party from its obligations under this Agreement.



		9.3.	Currency. All invoicing and payment obligations under this Agreement will be satisfied in
the currency specified in Attachment 1.



 [***]
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treatment has been requested with respect to the omitted portions. 




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ARTICLE
10. DOCUMENTS


		10.1.	[deleted]



ARTICLE
11. REPRESENTATIONS AND WARRANTIES


		11.1.	Representations and Warranties to Customers. Supplier represents and warrants that it will
represent and warrant to Customers that all Products delivered hereunder:



		(a)	materially comply with Supplier’s Specifications;



		(b)	are fit for the purposes for which they are intended;



		(c)	are of sound workmanship, good quality and free from material defects in design, construction,
manufacture and material;



		(d)	at the time of delivery, comply with all applicable laws, regulations, certification requirements
and agreed standards, including all applicable health and safety standards and all other applicable regulatory requirements for
the design, manufacture and shipment of the Products, including United States Food and Drug Administration and, when applicable,
European Community requirements and any other appropriate International standards;



		(e)	at the time of delivery, do not contain any of the restricted substances as listed in the Sustainability
Agreement;



		(f)	at the time of delivery, are free and clear of all liens, encumbrances, and other claims against
title.



This warranty will not extend to
any Products or part thereof: that have been subject to misuse, neglect or accident; that have been damaged by causes external
to the Product, including but not limited to failure of or faulty electrical power; that have been used in violation of Supplier’s
documentation; on which the serial number has been removed or made illegible; that have been modified by anyone other than Supplier
or its authorized designee; or that have been disassembled, serviced or reassembled by anyone other than Supplier, unless authorized
by Supplier. Supplier shall have no obligation to make repairs, replacements, or corrections which result, in whole or in part,
from normal wear and tear.


		11.2.	The foregoing warranties will be enforceable by Customers. It is explicitly
agreed between the Parties that Distributor shall agree with its Customers that all service and warranty obligations will be directly
and solely on Supplier’s side and solely as set forth in this Agreement; provided, however, that, to the extent approved
by Supplier, on a case-by-case basis, Supplier may grant the warranties set forth in this Article 11 directly to Distributor, who
would then be obligated to pass that warranty on to the relevant Customer and the Parties shall ensure that, as a result of such
pass-through warranty, Supplier will bear no more liability than it would have if the warranty in this Article 11 were provided
by Supplier directly to Customer. Distributor shall be solely responsible for any additional warranties that Distributor provides
to Customers. Supplier and Distributor agree that because the provision of Product warranty may be a factor in Distributor’s
sale of Products, Supplier will promptly address requests for pass-through warranties.






		11.3.	Non-Complying Products. Supplier shall under the warranty Supplier provided to Customer,
at Supplier’s option but as Customer’s sole remedy, replace, repair, have repaired or otherwise correct or remedy free
of charge any Product in breach of the representations and warranties set forth in ARTICLE 11. Supplier shall bear all costs, including
transportation and any labor costs, in connection with the repair or replacement of said breaching Products.



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		11.4.	Warranty Term. To the fullest extent permitted by law, the warranties set forth in Sections
11.1 to 11.4 will survive for a period of twelve months (12) months from the date of acceptance of the Product by Customer (the
“Warranty Term”). Products repaired or replaced within the Warranty Term (including Service Parts provided as part
of warranty service) are warranted for the remainder of the original Warranty Term of said Products, or twelve (12) months following
the delivery date of such repaired or replaced Product to Customer, whichever is longer.



		11.5.	Services Warranty. Supplier represents and warrants to Distributor that, as of the date
of first delivery of the Products, it has and at all time during the Term will maintain the requisite personnel, competence, skill
and resources necessary to provide the services under this Agreement and Attachments hereof. Supplier will represent and warrant
to Customers that the services provided by Supplier or its agents or subcontractors to Customers under this Agreement and Attachments
hereof shall be performed in a workmanlike manner and in compliance with all applicable laws and regulations. Supplier further
warrants the availability of service (as will be further defined between the Parties in Attachment 4 to this Agreement), Service
Parts and maintenance services, including repair services and preventative maintenance, for Products during the Term and for five
(5) years after end-of-life delivery of Products to the Customer.



		11.6.	EXCEPT IF EXPRESSLY PROVIDED IN THIS AGREEMENT OR OTHERWISE EXPRESSLY AGREED UPON BY SUPPLIER IN
WRITING, SUPPLIER WILL NOT BE BOUND BY ANY OTHER WARRANTY, WHETHER EXPRESS OR IMPLIED, WRITTEN OR ORAL (INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT) WITH RESPECT TO THE PRODUCTS, DISPOSABLES OR OTHERWISE
UNDER THIS AGREEMENT.



		11.7.	Supplier’s obligations under this Article 11 are a material term of this Agreement and the
warranties are for the benefit of Customers and Philips. Supplier’s material failure to provide the above-stated warranty
to a Customer or Supplier’s material failure to perform under this warranty shall be considered a material breach of this
Agreement, enforceable by Distributor for the benefit of the Customer.



ARTICLE
12. CONFIDENTIALITY


		12.1.	The terms of this Agreement, its execution, and any Confidential Information disclosed hereunder
will be maintained in confidence by the receiving Party, and will not be copied, disclosed, or used, except to the extent disclosure
is required (a) in connection with the exercise of its rights or performance of its obligations under Agreement, (b) due to a court
order or otherwise required by law, in which case the receiving Party shall, if permitted by law, inform the disclosing Party prior
to disclosure and use reasonable efforts to maintain the confidentiality of the Confidential Information without the prior written
consent of the disclosing Party, or (c) to actual or bona fide potential acquirers, stockholders and financing sources who are
bound to protect such information on terms no less protective than those of this Section 12.



		12.2.	Either Party will protect the other Party’s Confidential Information against disclosure in
the same manner and with the same degree of care, but not less than a reasonable degree of care, with which the receiving Party
protects confidential information of its own; and will (except as provided in Section 12.1) limit use of and circulation of the
Confidential Information disclosed by the other to such employees of the Parties and of their Affiliates as have a need to know
in connection with the requirements of this Agreement. The receiving Party will return to the disclosing Party all the disclosing
Party’s Confidential Information promptly upon request upon expiration or termination of this Agreement, except for archival
copies.



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		12.3.	This confidentiality obligation will be in effect until five (5) years from the date of the termination
or expiration of this Agreement.



ARTICLE
13. INTELLECTUAL PROPERTY RIGHTS


		13.1.	Warranty. Supplier represents and warrants to Distributor that, to Supplier’s knowledge
as of the Effective Date and except as may be set forth in the Schedule of Exceptions to the Stock Purchase Agreement, all Products
delivered hereunder will not violate or infringe any third party domestic or foreign patent, copyright, trade secret, trademark
or other intellectual property right. Supplier will defend, indemnify and hold harmless the Distributor Indemnitees from and against
all liability and expenses, including reasonable attorneys’ fees, arising from or related to any actual or claimed infringement
of any domestic or foreign patent, trademark, copyright or other intellectual property rights, misappropriation of trade secrets
or breach of confidential relationship, brought by a third party (other than Distributor or an Affiliate) solely with respect to
the Products. If the use or resale of a Product by one of the Distributor Indemnitees is enjoined as the result of any claimed
infringement, Supplier will, without in any way limiting the foregoing indemnity, and at its expense, use reasonable efforts to:



		(a)	procure for such Distributor Indemnitees the right to continue using or reselling the Product;



		(b)	replace or modify the Product with a Product or equivalent performance so that it becomes non-infringing;
or



		(c)	if such procurement, replacement or modification is not possible, repurchase the Products from
such Distributor Indemnitees (depreciated on a straight-line basis over a five year life).



This indemnification is conditioned
upon: (i) Distributor providing Supplier with prompt written notice of any such claim; (ii) Supplier having sole control and authority
with respect to the defense and settlement of any such claim; and (iii) Distributor cooperating fully with Supplier, at Supplier’s
sole cost and expense, in the defense of any such claim. Supplier shall not, without the prior written consent of Distributor,
agree to any settlement of any such claim that does not include a complete release of Distributor from all liability with respect
thereto or that imposes any liability, obligation or restriction on Distributor.


Supplier shall have no obligation
for any claim of infringement arising from:


		(i)	any combination of the Products with any other product where such infringement would not have occurred
but for such combination;



		(ii)	the adaptation or modification of the Products not performed or not authorized by Supplier;



		(iii)	the misuse of the Products or the use of any Product in an application for which it was not designed
by Supplier.



The terms of this ARTICLE 13.1 will
survive the termination of this Agreement for a period of six (6) years.


This Section 13.1 states Distributor’s
and Distributor Indemnitees’ sole remedy and Supplier’s exclusive liability in the event that the Product infringes
on or misappropriates the intellectual property rights of any third party.


[***]
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treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 14 of 27



    	 



    

 


		13.2.	Open Source Software. Supplier represents and warrants, to the best of its knowledge after
proper due diligence and inquiry, that the Products do not include any portion of Open Source Software. Supplier represents and
warrants that it will notify Philips concerning any software in the Products that qualifies as Open Source Software. Supplier will
defend, indemnify and hold harmless Distributor Indemnitees against any and all losses, damages, costs and expenses arising from
a third party claim to the extent due to a breach by Corindus of any of its obligations or representations under this Section 13.2.
For the purpose of this representation and warranty, by means of example and without limitation, any software modules or packages
licensed or distributed under any of the following licenses or distribution models will qualify as Open Source Software:



		(a)	GNU’s General Public License or Lesser/Library GPL;



		(b)	the Artistic License;



		(c)	the Mozilla Public License;



		(d)	the Common Public License;



		(e)	the Sun Community Source License; and



		(f)	the Sun Industry Standards Source License.



This indemnification is conditioned
upon: (i) Distributor providing Supplier with prompt written notice of any such claim; (ii) Supplier having sole control and authority
with respect to the defense and settlement of any such claim; and (iii) Distributor cooperating fully with Supplier, at Supplier’s
sole cost and expense, in the defense of any such claim. Supplier shall not, without the prior written consent of Distributor,
agree to any settlement of any such claim that does not include a complete release of Distributor from all liability with respect
thereto or that imposes any liability, obligation or restriction on Distributor.


		13.3.	License. Distributor will have an implied worldwide non-exclusive license under Supplier’s
Intellectual Property Rights in the Products solely to the extent necessary for Distributor’s performance of its obligations
under this Agreement



		13.4.	Branding and trademarks.



(a) Supplier’s
Products and Disposables will be branded by Supplier. Distributor Equipment will be branded by Distributor. In accordance with
branding guidelines to be mutually agreed by the Parties and set forth in Attachment 8 – Branding, the Parties will
grant explicit limited rights to use each other’s brands in e.g. marketing and promotional materials. Outside these detailed
branding guidelines and as otherwise expressly provided in this Agreement, (i) the manufacture and supply of Products by Supplier
does not grant to Supplier any rights in or license to the word mark PHILIPS or any other mark of Distributor or to the use of
such trademarks, either on or relating to Supplier’s products, in Supplier’s sales literature or other publications,
or otherwise, by or for the benefit of Supplier, and (ii) the purchase and resale of Products by Distributor does not grant to
Distributor any rights in or license to the word mark “Corindus”, “CorPath” or any other mark of Supplier
or to the use of such trademarks, either on or relating to Distributor’s products, in Distributor’s sales literature
or other publications, or otherwise, by or for the benefit of Distributor.


(b) Other than
agreed in Attachment 8, neither Party shall make any reference to the other Party whether in press releases, advertisements,
sales literature or otherwise, unless with the other Party’s prior consent; provided, however, that the Parties shall mutually
agree on the timing and language of an press release to be issued with respect to this Agreement and thereafter either Party may
publicize that Distributor is Supplier’s distributor of the Products.


		13.5.	Background IPR (License). For the avoidance of doubt, it is explicitly agreed that ownership
of either Party’s Background IPR will not be affected by this Agreement. For the purpose of the development and sale of the
Philips Integration Kit as agreed between the Parties, each Party and its Affiliates shall have a royalty-free, non-exclusive license
under the other Party’s Intellectual Property Rights limited to such purpose.



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		13.6.	Foreground IPR. Each Party shall own Foreground IPR that it generated within the framework
of this Agreement. Any joint development project will be governed under an agreement separate from this Agreement. In the event
that within the scope of this Agreement an invention is made jointly and indivisibly by employees or agents of both Parties, as
determined in accordance with US inventorship law (“Joint Invention”), the Joint Invention, and resulting IPR therein
shall be jointly owned (“Joint IPR”) , the Parties will jointly determine how and whether to protect the Joint IPR
and shall equally share the cost of such protection, and each Party has the free right to use and transfer the Joint IPR and grant
non-exclusive licenses without consent of and without accounting to the other Party.



ARTICLE
14. LIABILITY


		14.1.	Indemnity.



(A) Supplier
will defend, indemnify and hold harmless the Distributor Indemnitees from and against all liabilities, costs, damages, claims and
expenses, including reasonable attorneys fees, to the extent arising from or related to any third party claim for actual or alleged
(i) breach by Supplier of any express or implied covenant, representation, warranty or other term of this Agreement including Attachments
or the Sustainability Agreement (including any claim against Distributor as a result of Supplier’s breach of the provisions
of Section 11.); or (ii) any negligent act or omission or willful misconduct of Supplier or its agents, employees or subcontractors
or (iii) defective or non-compliant Products, including a defect in Product warnings, labeling, operator’s or service manuals
or other Documents.


(B) Distributor
will defend, indemnify and hold harmless Supplier, its successors and permitted assigns from and against all liabilities, costs,
damages, claims and expenses, including reasonable attorneys fees, to the extent arising from or related to any third party claim
arising from actual or alleged (i) breach by Distributor of any express or implied covenant, representation, warranty or other
term of this Agreement including Attachments or the Related Agreements; or (ii) any negligent act or omission or willful misconduct
of Distributor or its agents, employees or subcontractors or (iii) defective or non-compliant Philips Integration Kits or Distributor
Equipment, including a defect in products warnings, labeling, operator’s or service manuals or other Documents..


This indemnification is conditioned
upon: (i) the indemnified Party providing the indemnifying Party with prompt written notice of any such claim; (ii) the indemnifying
Party having sole control and authority with respect to the defense and settlement of any such claim; and (iii) the indemnified
Party cooperating fully with the indemnifying Party, at the indemnifying Party’s sole cost and expense, in the defense of
any such claim. The indemnifying Party shall not, without the prior written consent of the indemnified Party, agree to any settlement
of any such claim that does not include a complete release of the indemnified Party from all liability with respect thereto or
that imposes any liability, obligation or restriction on the indemnified Party.


		14.2.	LIMITATIONS OF LIABILITY. EXCEPT WITH RESPECT TO CONFIDENTIALITY, INFRINGEMENT OF INTELLECTUAL
PROPERTY RIGHTS, OR BREACH OF OPEN SOURCE SOFTWARE WARRANTY, NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, INDIRECT,
INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF BUSINESS, GOODWILL, REVENUE OR PROFITS WHETHER BASED IN CONTRACT OR TORT
(INCLUDING NEGLIGENCE, STRICT LIABILITY OR OTHERWISE), BY REASON OF ANY ACT OR OMISSION OR ARISING OUT OF OR IN CONNECTION WITH
THIS AGREEMENT. NOTHING IN THIS SECTION 14.2 IS INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF EITHER
PARTY SOLELY WITH RESPECT TO THIRD PARTY CLAIMS TO THE EXTENT SUCH THIRD PARTY CLAIM INCLUDES A CLAIM FOR THE THIRD PARTY’S
CLAIM FOR ITS OWN SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES.



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		14.3.	Limitation of liability. The liability, if any, of Distributor and Distributor Indemnitees
(with the exception of Customers) to Supplier for damages, whether arising from breach of the terms of this Agreement, breach of
warranty, negligence, indemnity, termination, strict liability or other tort, or otherwise, but not the stock purchase agreement
or any other contracts or relationships between the parties, arising from the Parties’ performance under this Agreement,
is limited to a total amount not to exceed the greater of $2 million or the total Price paid or payable by Distributor to Supplier
for all Products under this Agreement in the 12 months preceding such claim. This limitation of liability does not apply to claims
for personal injury or death.



The liability, if any, of Supplier
to Distributor and Distributor Indemnitees (with the exception of Customers) for damages, whether arising from breach of the terms
of this Agreement, breach of warranty, negligence, indemnity, termination, strict liability or other tort, or otherwise, but not
the stock purchase agreement or any other contracts or relationships between the parties, arising from the Parties’ performance
under this Agreement, is limited to a total amount not to exceed the greater of $2 million or the total Price paid or payable by
Distributor to Supplier for all Products under this Agreement in the 12 months preceding such claim. This limitation of liability
does not apply to claims for personal injury or death.


ARTICLE
15. INSURANCE


		15.1.	Supplier’s Insurance. During the Term of the Agreement, Supplier will maintain: (i) comprehensive
or commercial general liability insurance (including premises and operations, broad form contractual liability, broad form property
damage and personal injury liability) with a minimum limit of $1,000,000 combined single limit per occurrence and $2,000,000 in
the aggregate, for claims of bodily injury, including death, and property damage that may arise from acts or omissions of Supplier
in its performance under this Agreement; (ii) workers’ compensation insurance, with statutory limits as required by the various
laws and regulations applicable to the employees of Corindus hereunder; and (iii) employer’s liability insurance, for employee
bodily injuries and deaths, with a limit of $1,000,000 each accident. In addition, immediately prior to any use of a released or
unreleased Product on humans (including any clinical trials or evaluations that may be performed before release), Supplier will
have in force and maintain liability coverage for the Products for claims of bodily injury, including death, that may arise from
use of the products and completed operations with a minimum limit of $1,000,000 combined single limit per occurrence and $2,000,000
in the aggregate. As soon as possible after the Effective Date but no later than two months after the effective date, Supplier
will also establish and maintain excess liability insurance coverage in an amount of not less than $10 million per occurrence.
As of the date the Products are released for shipment, each policy obtained by Supplier will name Distributor, its officers, directors
and employees as additional insured. Such insurance will apply as primary insurance and no other insurance will be called upon
to contribute to a loss covered thereunder. Such insurance policies will be written with appropriately licensed and financially
responsible insurers, and will endeavor to provide for a minimum of 30 days written notice to Distributor of any cancellation or
reduction in coverage. Certificates of insurance evidencing the required coverage and limits is in force and effect will be furnished
to Distributor before any work is commenced hereunder.



		15.2.	“Claims Made” Coverage. If any policies have “claims made” coverage,
Supplier will maintain such coverage with Distributor named as an additional insured for a minimum of three (3) years after termination
of this Agreement. Any such coverage must have a retroactive date no later than the date upon which work commenced under this Agreement.



[***]
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		15.3.	Supplier will inform Distributor in writing of the level of deductibles (and any change thereto)
under any insurance policy above. All deductibles on policies providing coverage will be paid by Supplier. In no event will the
coverage or limits of any insurance required under this ARTICLE 15, or the lack or unavailability of any other insurance, be deemed
to limit or diminish Supplier’s obligations or liability to Distributor under this Agreement.



ARTICLE
16. TERMINATION


		16.1.	Termination for Cause. A Party may terminate this Agreement in whole upon written notice
to the other Party if:



		(a)	The other Party files a voluntary petition in bankruptcy or any voluntary proceeding relating to
insolvency, receivership, liquidation, assignment for the benefit of creditors or similar proceeding;



		(b)	The other Party becomes the subject of a petition in bankruptcy or any proceeding relating to insolvency,
receivership, liquidation, assignment for the benefit of creditors or similar proceeding and such petition or proceeding is not
dismissed within thirty (30) days from filing of such petition or proceeding;



		(c)	The other Party ceases, or in writing to the other Party threatens to cease, to carry on business
in the ordinary course;



		(d)	A Change of Control with respect to the other Party occurs, provided that such termination should
be notified to such Party within 3 months after such Party has given written notice of the Change of Control.



or


		(e)	e. The other Party materially breaches any of its obligations under the Agreement or the Sustainability
Agreement and does not cure such breach within thirty (30) days after receipt of written notice of such breach, during which thirty
(30) days first Party will be allowed to suspend its performance under this Agreement.



		16.2.	Termination for Cause by Distributor. Distributor may terminate this Agreement in whole
with immediate effect upon written notice to Supplier if Distributor determines, after consultation with Supplier, (i) the occurrence
of Technical Failure, adverse Product safety reports or substantial non-compliance notifications for the Product from a certification
body or regulatory authority; (ii) Supplier’s failure to reach the defined Minimum Customer Satisfaction Requirements; or
(iii) 510k clearance for the Products and the Disposables is not obtained by [***], provided the circumstances so determined as
grounds for determination were not in any way caused by or the consequence of any act or omission of Distributor. Distributor will
not be allowed to terminate this Agreement (a) before sending written notification to Supplier of its intention for such termination
and of the grounds for that intention, and (b) then promptly submitting the notification for such termination to the Distribution
Steering Committee with the request to promptly resolve the matter in accordance with article 4 aiming to agree a remedial plan
between the Parties, and (c) before expiration of 3 months after the date of the notification to Supplier of Distributor’s
intention to terminate the Agreement during which 3 months Distributor will no longer be bound by its Minimum Distributor Requirements.
In the event of a situation described in clauses (ii) or (iii), termination of this Agreement shall be Distributor’s sole
remedy.



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treatment has been requested with respect to the omitted portions. 




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		16.3.	Termination for Cause by Supplier. Supplier may terminate this Agreement with immediate
effect in whole upon written notice to Distributor if Distributor has failed to meet the Minimum Distributor Requirements in any
two consecutive quarters, provided that (a) such failure of Distributor was not in any way caused by or the consequence of any
act or omission of Supplier and (b) Supplier notified Distributor in writing of its intention for such termination and of the grounds
for that intention, (c) Supplier has promptly submitted the notification for such termination to the Distribution Steering Committee
with the request to promptly resolve the matter in accordance with article 4 aiming to agree a remedial plan between the Parties,
and (d) within 3 months after the date of the notification to Distributor of Supplier’s intention to terminate the Agreement
or otherwise in accordance with the remedial plan agreed by the Parties, Distributor has not remedied its failure with the Minimum
Distributor Requirements. In the event of a situation described in this Section 16.3, termination of this Agreement shall be Supplier’s
sole remedy.



		16.4.	Consequences of Termination. Supplier shall honour all Purchase Orders received prior to
termination or expiration of this Agreement subject to Distributor’s compliance with the payment terms of this Agreement
and provided that such Purchase Orders were accepted by Supplier prior to the expiration or termination of the Agreement. Upon
expiration or termination of the Agreement, the Parties will reasonably cooperate to ensure that there is a smooth unwinding of
their relationship and an orderly transition of all aspects of the business that is the subject of the Agreement.



		16.5.	Limitation of Liability in Event of Termination. In the event of termination by either Party
in accordance with any of the provisions of this Agreement, neither Party shall be liable to the other because of such termination,
for compensation, reimbursement, indemnity, payment or damages on account of the loss of prospective profits or anticipated sales
or on account of expenditures, development costs, investments, leases, inventory or commitments incurred or made by either Party
in connection with the business or goodwill of Supplier or Distributor. The Parties hereby expressly waive the benefits of, and
agree not to assert, any statutory or other rights available under applicable law which might (i) limit the exercise of the other
Party’s rights under this section 16, (ii) require a longer period or longer term for such Party’s termination rights
hereunder, or (iii) provide for additional compensation not consistent with this Agreement to either Party upon termination.



ARTICLE
17. FORCE MAJEURE


		17.1.	Neither Party will be liable for any failure to perform solely caused by a Force Majeure Event
and if either Party is prevented from performing or is unable to perform any of its obligations (except payment obligations) under
this Agreement due to a Force Majeure Event, its performance will be excused, and the time for performance will be extended for
the period of delay or inability to perform due to such Force Majeure Event, provided that such Party will give promptly written
notice thereof to the other Party:



		(a)	describing the Force Majeure Event;



		(b)	describing the obligations which it is unable to perform due to the Force Majeure Event; and



		(c)	giving a projection of the expected period of delay or inability to perform due to the Force Majeure
Event, and such Party will have used reasonable commercial efforts to mitigate its effects and to cure any non-performance.



		17.2.	If a Party is not or does not reasonably expect to be able to perform any material obligation under
this Agreement due to a Force Majeure Event for a period of sixty (60) days or more, the other Party may terminate this Agreement
without liability.



		17.3.	Notwithstanding the foregoing, Distributor may cancel without liability any affected Purchase Orders
if the Force Majeure Event would result in a delay in delivery of more than ten (10) days.



 [***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 19 of 27



    	 



    

 


ARTICLE
18. GENERAL PROVISIONS


		18.1.	Amendments. This Agreement may be amended only by a written instrument explicitly referring
to this Agreement, duly executed by authorized representatives of both Parties.



		18.2.	Binding Agreement and Assignment. This Agreement will be binding upon and inure to the benefit
of the Parties and their respective successors and permitted assigns. Either Party, only upon the other Party’s prior written
approval, not to be unreasonably withheld, will be permitted to assign rights and delegate the performance of its obligations hereunder
to any third party; however, Distributor agrees and acknowledges that Supplier may develop, manufacture and service the Products
through third parties, but use of such third parties shall not absolve Supplier from its obligations under this Agreement. For
purposes of clarity and without limiting Philips’ right to terminate this Agreement in accordance with Section 16.1(d), Corindus
shall have the right to assign this Agreement in connection with a Change of Control of Corindus, subject to Corindus’ compliance
with the Stock Purchase Agreement and except for any termination of this Agreement in accordance with Section 16.1(d) by Philips.



		18.3.	Agreement. This Agreement, the Sustainability Agreement and any Purchase Order issued hereunder
constitute the entire agreement and understanding of the Parties and merges all prior discussions and negotiations between them
and supersedes any previous agreement whether oral or written, including that certain Confidentiality Agreement, dated as of October
6, 2009, as amended. Course of performance, course of dealing and usage of trade will not apply to this Agreement. The attachments
listed in article 2.11 form an integral part of this Agreement.



		18.4.	Country of Origin. The provisions of this Section 18.4 shall apply only to the extent required
by applicable law or regulations:



		18.4.1	Upon Distributor’s request, Supplier will provide Distributor with an acceptable and auditable
certification stating the country of origin for the Products, sufficient to satisfy the requirements of (i) customs authorities
of the country of receipt; and (ii) applicable export licensing regulations. Supplier will mark each Product (or the Product’s
container if there is no room on the Product) with the country of origin. Supplier will, in marking Products, comply with the requirements
of the customs authorities of the country of receipt.



		18.4.2	If the Products are export controlled, Supplier will inform Distributor accordingly and to indicate
the applicable export control classification number (“ECCN”).



		18.4.3	Distributor will develop the Products in such a way that the Product can be supplied with preferential
origin status and provide appropriate customs documentation for Products that may be imported.



		18.4.4	Supplier will: organize its administration and manufacturing in such a way, that the Products can
be supplied with preferential origin status and supply the Products with the appropriate documentary evidence of the preferential
origin status. Supplier will provide the appropriate customs documentation for Products which may be imported and/or exported by
Distributor, including NAFTA Certificate, Certificate of Origin (renewed on a two (2) year basis), FDA Accession Number, FDA 510K
number, and Harmonized Tariff System Classification Codes. Supplier will support Distributor with import and export regulatory
issues so that regulatory compliance will be met.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 20 of 27



    	 



    

 


		18.4.5	This Agreement has been executed and the Prices of the Product have been agreed upon taking into
consideration the asserted origin of the Products as well as the delivery by Supplier of the appropriate documentary evidence of
the preferential origin status requested by custom authorities. It is expressly understood that the preferential origin status
of the Product and the accuracy thereof for any supplied Product hereunder are essential under this Agreement.



		18.4.6	If Products delivered under this Agreement are imported, Supplier will when possible allow Distributor
to be the importer of record. If Distributor is not the importer of record and Supplier obtains duty drawback rights to the Products,
Supplier will, upon Distributor’s request, provide Distributor with documents required by the customs authorities of the
country of receipt to prove importation and to transfer duty drawback rights to Distributor.



		18.5.	General Rules of Construction. In this Agreement, unless the context otherwise requires:



		(a)	words in the singular number or in the plural number will each include the singular number or the
plural number;



		(b)	references to “days” will, unless otherwise specified, mean calendar days;



		(c)	reference to any agreement (including this Agreement) or other contract or any document means such
agreement, contract or document as amended or modified and in effect from time to time in accordance with the terms thereof and,
if applicable, the terms hereof;



		(d)	“including” (and with correlative meaning “include”) means
including without limiting the generality of any description preceding or succeeding such term;



		(e)	“hereto”, “herein”, “hereof”, “hereinafter”
and similar expressions refer to this Agreement in its entirety, and not to any particular article or other part of this Agreement;



		(f)	reference to any “Section” or “Attachment” means the corresponding
Section or Attachment of or to this Agreement; and



		(g)	the descriptive headings of articles, paragraphs and other parts of this Agreement are included
for convenience only and will not affect in any way the meaning or interpretation of this Agreement or any of the terms or provisions
hereof.



		18.6.	Governing Law; Dispute Resolution, Jurisdiction.



(a) This Agreement
will be deemed to be made in and in all respects will be interpreted, construed and governed by and in accordance with the law
of the Commonwealth of Massachusetts without regard to the conflict of law principles. The United Nations Convention on Contracts
for the International Sale of Goods (the Vienna Sales Convention) is not applicable to this Agreement.


(b) EACH PARTY
ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED
HEREBY.


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 21 of 27



    	 



    

 


(c) Arbitration.
Subject to compliance with article 18.6(d), Any dispute, controversy or claim arising out of or relating to this Agreement, or
the breach, termination or invalidity thereof, shall be finally settled by binding arbitration conducted in the English language
in Boston, Massachusetts under the commercial arbitration rules of the American Arbitration Association (“AAA”),
which shall administer the arbitration and act as appointing authority. Each Party shall appoint an arbitrator and the two arbitrators
so appointed shall jointly appoint a third arbitrator; provided, however, that if they cannot agree (or if one Party refuses to
appoint an arbitrator) within thirty (30) days after the initiation of the arbitration, then the third arbitrator shall be appointed
by the President of the AAA. Disputes about arbitration procedure shall be resolved by the arbitrators or failing agreement, by
the AAA. The arbitrators may proceed to an award notwithstanding the failure of the other Party to participate in the proceedings.
The arbitrators shall be authorized to grant interim relief, including to prevent the destruction of goods or documents involved
in the dispute, protect trade secrets and provide for security for a prospective monetary award. The limitations on liability set
out in Section 14.2 shall apply to an award of the arbitrators. The prevailing Party shall be entitled to an award of reasonable
attorney fees incurred in connection with the arbitration in such amount as may be determined by the arbitrators. The award of
the arbitrators shall be the sole and exclusive remedy of the Parties and shall be enforceable in any court of competent jurisdiction.
At any time, a Party may seek or obtain preliminary, interim or conservatory measures from the arbitrators or from a court.


(d) The Parties
agree to escalate any all disputes between them arising out of or relating to this Agreement, whether or not arising from any matter
before the Management Committee, to the Distribution Steering Committee and to attempt to solve such dispute amicably for a period
of no more than thirty (30) days before commencing legal action under the previous paragraph 18.6(c) provided, however, that at
any time, a Party may seek or obtain preliminary, interim or conservatory measures from the arbitrators or from a court.


		18.7.	Compliance with Laws. Both Parties will at all times comply with all laws, rules, regulations
and ordinances applicable to the Agreement, the Sustainability Agreement and each Purchase Order, including but not limited to
all applicable anti trust laws, fair labor, equal opportunity and environmental compliance laws, and import and export rules, regulations
and ordinances. Either Party will furnish to the other Party any information required to enable it to comply with such laws, rules,
and regulations. If the Products and/or Services are sold by Distributor under U.S. federal contract or subcontract, all applicable
procurement regulations required by federal statute or regulation to be inserted in contracts or subcontracts are hereby incorporated
by reference.



		18.8.	Personal data. If a Party receives or has access to personal data, as defined in any applicable
personal data protection legislation or similar law or regulation (“Personal Data”), in the performance of this Agreement,
then that Party will:



		(a)	not use or further disclose Personal Data other than as permitted by this Agreement or required
by law;



		(b)	use appropriate safeguards to prevent the use or disclosure of the Personal Data other than as
permitted by this Agreement, and



		(c)	implement administrative, physical, and technical safeguards that reasonably and appropriately
protect the Personal Data against unauthorized or unlawful processing of the Personal Data.



To the extent that either Party
uses an authorized subcontractor with access to the Personal Data, such Party will obtain subcontractor’s written agreement
to this provision. Both Parties will comply with the applicable data protection legislation and all further reasonable instructions
provided by the other Party with regard to the processing and protection of the Personal Data. Either Party will use reasonable
efforts to mitigate any harmful effect that is known to it of its use or disclosure of Personal Data in violation of the law or
this Agreement. The Parties will, upon the termination of this Agreement, return to the other Party or securely destroy all records
or documents containing the Personal Data. The Parties will remain bound by the provisions of this Section with respect to any
Personal Data that remain in its possession.


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 22 of 27



    	 



    

 


Insofar images or other health related
records that will be provided by a Party to the other Party under this Agreement contain Personal Data or references thereto, the
first party will ensure that all such Personal Data and references are removed or made illegible or inaccessible prior to the disclosure
to the receiving party. Where the Personal Data cannot be removed, or be made illegible or inaccessible, but it cannot be avoided
to share this Personal Data with the other Party, the transferring Party warrants that it has obtained the explicit consent of
the data subject concerned with regard to the disclosure of the Personal Data or reference thereto to the other Party as well as
the use of those Personal Data or references thereto by the other Party for business, research and marketing purposes.


		18.9.	HIPAA Compliance. In connection with providing services hereunder, a Party or a Customer
may disclose to the other Party individually identifiable health information (“PHI”) as defined in and subject to protection
under the Health Insurance Portability and Accountability Act of 1996 and the regulations promulgated pursuant thereto (“HIPAA”).
The Customers include “Covered Entities,” which are subject to HIPAA. This paragraph is to allow Customers to comply
with HIPAA. “PHI” and “ePHI” will mean Protected Health Information and Electronic Protected Health Information,
respectively, as defined in 45 C.F.R. §160.103, limited to the information the other Party received from or created or received
on behalf of a Party.



Distributor and Supplier agree that:
(1) The receiving Party will not use or further disclose PHI other than as permitted by this Agreement or required by law; (2)
the receiving Party will use appropriate safeguards to prevent the use or disclosure of the PHI other than as permitted by this
Agreement, and will implement administrative, physical, and technical safeguards that reasonably and appropriately protect the
confidentiality, integrity, and availability of ePHI (“Safeguards”); (3) the receiving Party will report to
the transferring Party: (a) any use or disclosure of the PHI not permitted by this Agreement or by law of which the receiving Party
becomes aware; and (b) any Security Incident (as defined by law) of which the receiving Party becomes aware; (4) To the extent
that the receiving Party uses one or more subcontractors or agents to provide services under this Agreement, and such subcontractors
or agents receive or have access to the PHI, each such subcontractor or agent will: (a) enter into a written agreement with the
receiving Party containing the same restrictions and conditions set forth in the business associate provisions of HIPAA that apply
through the receiving Party; and (b) implement reasonable and appropriate Safeguards to protect ePHI; (5) the receiving Party agrees
to make (a) its internal practices, books and records relating to the use and disclosure of PHI and (b) its policies, procedures
and documentation required by the Security Rule relating to the Safeguards, available to the Secretary of the U.S. Department of
Health and Human Services or his designee to the extent necessary to determine the receiving Party’s compliance with HIPAA;
(6) the receiving Party agrees to make available to the other Party (or at its direction to a Customer) the information in its
possession required to provide an accounting of the receiving Party’s disclosures of PHI as required by HIPAA (7) the receiving
Party will use reasonable commercial efforts to mitigate any harmful effect that is known to the receiving Party of a use or disclosure
of PHI by the receiving Party in violation of this Agreement; and (8) Upon the termination of this Agreement for any reason, the
receiving Party will return to the transferring Party (or at its direction to a Customer) or destroy all PHI received from the
transferring Party or a Customer that the receiving Party maintains in any form, recorded on any medium, or stored in any storage
system, unless said information is no longer PHI or if the return or destruction is not feasible. Following termination of this
Agreement, the receiving Party will remain bound by the provisions of this Paragraph 18.9 with respect to any PHI that remains
in its possession.


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 23 of 27



    	 



    

 


		18.10.	Excluded Provider. Each Party represents and warrants that it, and, to the best of its knowledge,
its employees and subcontractors providing or marketing the Products are not debarred, excluded, suspended or otherwise ineligible
to participate in a U.S. federal health care program, nor have they been convicted of any U.S. health care related crime (an “Excluded
Provider”). Each Party will promptly notify the other Party in writing if it becomes aware that any of its employees
or subcontractors providing or marketing the Products has become an Excluded Provider. Either Party may terminate this Agreement
upon written notice to the other Party if such other Party or any of its employees or subcontractors providing or marketing the
Products becomes an Excluded Provider.



		18.11.	Availability of Records. This Section 18.11 shall apply to the extent required by law. Each
Party will make available, upon written request of the Secretary of the U.S. Department of Health and Human Services (“DHHS”),
or upon request of the U.S. Comptroller General, or any of their authorized representatives, each Purchase Order and the books,
documents and records of such Party that are necessary to certify the nature and extent of the costs for which the other Party
seeks reimbursement. Each Party further agrees that if it carries out any of the duties of this Agreement through a subcontract
with a value or cost of ten thousand dollars ($10,000) or more over a twelve (12) month period, with a related organization, such
subcontract will contain a clause to the effect that until the expiration of four (4) years after the furnishing of such Products
pursuant to such subcontract, the related organization will make available, upon written request to the Secretary, or upon request
to the Comptroller General, or any of their authorized representatives, the subcontract, and books and documents and records of
such organization that are necessary to verify the nature and extent of such costs.



		18.12.	Waivers. Neither the failure nor delay of any Party to this Agreement to assert or exercise
any right, power, privilege or remedy under this Agreement or to enforce any term or provision hereof or thereof, will constitute
a waiver of such right, power, privilege or remedy, and no single or partial exercise of any such right, power, privilege or remedy
will preclude any other or further exercise of such right, power, privilege or remedy or the exercise of any other right, power,
privilege or remedy.



		18.13.	Notices. Any notice, request, instruction or other document to be given hereunder by any
Party to the other will be in writing and delivered personally or sent by registered or certified mail, postage prepaid, by facsimile
or by overnight courier:



	If to Distributor:	
        Nigel Prince [Sr Director Purchasing]

        VS 4B 106E, Vreedeoord 105

        5621 CX Eindhoven, The Netherlands

        nigel.prince@philips.com,

        Tel: +31 40 27 82196, Fax: +31 40 27 89600

         

	With copy to	
        Florian Schneeberger [Sr Dir Venture Management]

        Building QY, Veenpluis 4-6

        5684PC Best, The Netherlands

        florian.schneeberger@philips.com,

        Tel: +31 402764064, Fax +31 40 27 69100

         

	And copy to	
        Philips Medical Systems Nederland B.V.

        Legal Department, PO Box 10.000

        5680 DA Best, The Netherlands

        Tel: +31 40 2763442, Fax +31 40 2762651

        




 


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 24 of 27



    	 



    

 

	If to Supplier:	
        Tal Wenderow [EVP Marketing & Bus Development]

        11 Erie Drive

        Natick, MA 01760, USA

        tal.wenderow@corindus,com,

        Tel: +1 508 653 3335 x 205, Fax 508-653-3355

         



or to such other persons or addresses
as may be designated in writing by the Party to receive such notice as provided above. Any notice, request, instruction or other
document given as provided above will be deemed given to the receiving Party upon actual receipt, if delivered personally; three
business days after deposit in the mail, if sent by registered or certified mail; upon confirmation of successful transmission
if sent by facsimile; or on the next business day after deposit with an overnight courier, if sent by an overnight courier.


		18.14.	Publicity. Except as set forth in article 13.4 of this Agreement or in Attachment 8 to this
Agreement, neither Party will, without the prior written consent of the other Party, make any news release, public announcement,
relating to this Agreement or its subject matter, unless to the extent Distributor considers it necessary to do so in the ordinary
course of its business.



		18.15.	Independent Contractors. Each Party is an independent contractor, not an agent, employee
or representative of the other. Neither Party has authority to make any statement, representation or commitment of any kind or
to take any action binding upon the other, without the other Party’s prior, written authorization.



		18.16.	Authority; Due Execution. Each Party represents and warrants to the other, that (i) it has
full power and authority to enter into this Agreement and any agreements related hereto and, subject to the terms and conditions
hereof, this Agreement, when executed, will be a valid and legally binding obligation of such Party according to its provisions;
(ii) the execution and performance of this Agreement will not constitute a breach of or an event of default under any agreement,
contract, law or regulation to which such Party is or may be bound; and (iii) the execution and performance of this Agreement has
been duly authorized by all necessary corporate action.



		18.17.	Severability. The provisions of this Agreement are severable and the invalidity or unenforceability
of any provision will not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement,
or the application thereof to any person or entity or any circumstance, is invalid or unenforceable, (a) a suitable and equitable
provision will be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of
such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of such provision to other
persons or entities or circumstances will not be affected by such invalidity or unenforceability, nor will such invalidity or unenforceability
affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction.



		18.18.	Supply Chain Security. Supplier will be responsible to follow any applicable governmental
requirements for supply chain security and make reasonable efforts to support Distributor’s Supply Chain Security Programs
(if different and to the extent the relevant information is provided to Supplier), and will inform Distributor of any relevant
event. Distributor will be entitled to audit the supply chain security of Supplier for compliance with this Section.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 25 of 27



    	 



    

 


		18.19.	Export Compliance. The provisions of this Section 18.19 shall apply only to the extent required
by applicable law or regulations: Upon Distributor’s request, Supplier will provide Distributor and/or Customer with an acceptable
and auditable certification stating the country of origin for the Product sufficient to satisfy the requirements of customs authorities
of the country of receipt and applicable export licensing regulations. Supplier will mark each Product with the country of origin,
and when marking the Product, Supplier shall comply with the requirements of the customs authorities of the country of receipt.
If the Product is import or export controlled, Supplier will inform Distributor accordingly and indicate the applicable import/export
control classification numbers. Supplier is responsible for obtaining all necessary and proper customs or export licenses and/or
governmental authorizations in order to complete delivery of Products purchased by Distributor.



Distributor shall
ensure that no party involved in any aspect of a sales transaction hereunder may be considered to be a restricted or denied party
as identified by the United States or any other government having jurisdiction over the transaction.


		18.20.	Survival. All terms and conditions of this Agreement which are intended (whether expressed
or not) to survive the duration or termination of this Agreement will so survive, including without limitation the articles 2.3(b),
11, 12, 13.1, 13.2, 13.6, 14, 15.2, 16.4, 16.5, 18.1, 18.2, 18.3, 18.5, 18.6, 18.12, 18.15, 18.17 and 18.20.



 


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 26 of 27



    	 



    

 


IN WITNESS WHEREOF, this Agreement has
been duly executed and delivered by the duly authorized officers of the parties hereto as of the date first written above.





	Philips Medical System Nederland B.V.	 	Corindus Inc.
	 	 	 
	 	 	 
	 	 	 
	/s/ Bert van Meurs	 	/s/ David Handler
	Signature	 	Signature
	 	 	 
	Name:	Bert van Meurs	 	Name:	David Handler
	Title:	SVP & GM BU iXR	 	Title:	President & CEO
		GM Philips Medical System Nederland B.V.	 	Date:	 
	Date:	 	 	 	 


 


 


	/s/ Maxine Moor	 	 	 
	Signature	 	 	 
	 	 	 	 	 
	Name:	Maxine Moor	 	 	 
	Title:	Senior Director, Commercial Purchasing	 	 	 
	Date:	 	 	 	 







 


 [***]
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treatment has been requested with respect to the omitted portions. 




    	Corindus Philips Distributor Agreement	Page 27 of 27



    	 



    

 


Attachment 1 – Products, Integration
Kit and Prices


		1.	“CorPath System” as used in the Distributor Agreement means the CorPath 200 vascular robot and its successors
for PCI.



		2.	“Philips Integration Kit” shall mean, additionally to the definition in the Distributor Agreement, the kit
necessary to adapt the Distributor Equipment to work with the Product containing:



i. Viewing monitors (Life and reference)
and the connection of the monitors to the relevant Distributor Equipment


ii. foot pedals for the relevant Distributor
Equipment


iii. basic non-integrated controls
for use of the Product with the relevant Distributor Equipment


but excludes any advanced integration
features, including but not limited to software integration, integration of controls for use of the Product with the relevant Cath
Lab.


		3.	“Integration Kit” means the package that will be developed by Supplier to be delivered with the Products
to Customers who aim to use the Products in combination with the Competitor Equipment, containing a) viewing monitors and the connection
of the monitors to the relevant Cath Lab, b) foot pedals for the relevant Cath Lab, and c) basic non-integrated controls for use
of the Product with the relevant Cath Lab.



		4.	“Price” shall mean the agreed upon transfer price which will include the Product, shipment, packaging, unpacking,
installation, training and warranty cost to be charged by Supplier to Distributor per product purchased by Distributor.



		5.	“List Price” shall mean the price the Distributor determines to list the products in it’s catalog.
Distributor will independently determine the sales price to be charged per Product by Distributor to Customers.



		6.	Price for the US Territory



		(a)	The Price at product introduction will be set at [***],- US$



		(b)	It is agreed between the Parties that Distributor’s possibilities to meet the desired market penetration depend on this
pricing of the Products in the market. Therefore, as part of the Market Introduction Plan, the Parties will jointly conduct a market
price study into the pricing of the Products as input into Distributor’s determination of the List Price before market introduction.



		(c)	In case the market study shows substantial difference to initial pricing/penetration assumptions, and both parties mutually
agree, Pricing will be re-negotiated in good faith.



		7.	Price for the rest of the Territory: The Parties will negotiate and agree on a Transfer Price for the rest of
Territory later.



 [***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 1 to Corindus Philips Distributor Agreement	Page 1 of 1



    	 



    

 


Attachment 2 - Marketing & Sales
US


1.


Introduction


		1.1	This Attachment to the Distributor Agreement describes the way of working between Distributor and
Supplier for the US Territory for marketing and sales activities necessary for successful market introduction and quality improvement
of the Product. Unless otherwise mentioned, all the definitions and references of the Distributor Agreement shall apply in full
in this Attachment.



2.


Definitions


		2.1	“Lead” means an identified potential Customer for the Product who did not yet
purchase the Product.



		2.2	“Lead Pipeline” means the full amount of identified Leads at the respective
maturity stages in the sales process.



		2.3	“Market Introduction Plan” shall mean a combined plan between the Parties to
define the activities and responsibilities necessary for successful market introduction and quality improvement of the Product



		2.4	“Reference Site” shall mean strategically chosen Customer sites where the site
has agreed to use the Product during the product introduction phase and later to mature the sales, marketing, training and adoption
approach and to host site visits to enable Distributor to demonstrate the Product to potential Customers and Leads in the site’s
clinical setting.



3.


Organization


		3.1	Distributor will, at its own expense, appoint a dedicated US Marketing manager who will be responsible
for coordinating and executing all marketing and sales activities related to the Products, such as sales force training and communication,
management of the Lead Pipeline and generating marketing materials. Distributor will assign adequate budget for the US marketing
effort in order to perform Distributor responsibilities set out in this attachment.



		3.2	Supplier will, at its own expense, set up its own Product field marketing and clinical specialist
team (Field Marketing Team) which will be responsible for performing Supplier responsibilities set out in this Attachment 2.



4.


Marketing


		4.1	The Parties will work together on a detailed Market Introduction Plan to avoid discrepancies between
each Party’s marketing activities. The Market Introduction Plan will be milestone based and define Product introduction and
Product adoption plans and marketing strategy.



		4.2	Supplier will be responsible for global Product management and development of the Product’s
integral value proposition.



		4.3	Supplier will provide marketing and sales tools (for instance, brochures, demonstration equipment,
Customer testimonial videos) for Distributor’s sales force to be agreed between the Parties as described in Market Introduction
Plan, and will make reasonable efforts to provide necessary documentation to fulfill Distributor’s NPI checklists.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 2 to Corindus Philips Distributor Agreement	Page 1 of 4



    	 



    

 


		4.4	Distributor will identify sites currently having Distributor Equipment installed and Distributor
and Supplier will jointly identify from that list an agreed-to number of those sites with which Distributor will negotiate for
such site to become a Reference Site. The intention is to identify and secure Reference Sites that are geographically spread.



		4.5	Supplier will have its own marketing program and will be responsible for developing, funding and
maintaining its own website, advertising, tradeshows exhibits, education and training center.



		4.6	Supplier will provide and install Products and Disposables, at its expense, for Distributor to
demonstrate at agreed upon trade shows.



		4.7	To increase visibility of the Product, Supplier will deliver and install on loan at no charge to
Distributor two (2) demo Products with Disposables in agreed Distributor’s customer education and visitor centers.



		4.8	Supplier will provide reasonable efforts to organize a specialized service and support team for
the Reference Sites.



		4.9	Supplier will further drive the value proposition by performing clinical development activities
determined by Supplier with input from Distributor based on its marketing activities to further support additional clinical claims
of the proposition in line with regulatory requirements.



5.


Sales process


		5.1	Distributor will use its existing sales and marketing organization and tools to drive Lead generation,
Lead prioritization and sales towards new Equipment customers and potential Customers with installed Distributor Equipment, or
installed base of Competitor Equipment.



		5.2	Distributor and Supplier will agree on criteria to prioritize identified Leads in order to ensure
that both companies’ efforts in sales and marketing are in line with the Market Introduction Plan. Distributor will utilize
its existing Lead pipeline process to manage prioritization and target of Customers.



		5.3	Distributor sales force will coordinate the sales process for all leads, requesting the
                                                               Supplies Field Marketing Team, if necessary, to perform site visits to articulate the proposition and perform Product
                                                               presentations at end customer locations as mutually agreed for Distributor to try to reach sales projections. The cost of
                                                               Supplier field marketing activites, including but not limited to Product demonstrations, demonstration equipment and travel
                                                               will be at the sole expense of the Supplier.



		5.4	Supplier’s Field Marketing Team is responsible to assist in promoting the Product and to
promote related Disposables to installed base Distributor or Competitor Equipment customers. Supplier shall notify Distributor
of any Leads or inquiries that it receives from potential Customers.



		5.5	Quote process - Distributor will determine timing for quotation to Customer. In case of
                                                               Leads which are not interested in purchasing Distributor Equipment, Distributor will use reasonable efforts to reply to
                                                               a request for quotation from a Customer in a timely manner.



		5.6	Distributor will ensure adequate sales compensation towards the sales teams to focus on Products
in order to reach the agreed upon Minimum Distributor Requirements.



		5.7	Distributor will be responsible to list the Products in its sales catalogue and to quote and sell
the Product to the Customer.



		5.8	Supplier will develop a clinical field organization for end customer application training, education
and system use to execute the adoption plan, mature the value proposition and drive Disposable cassette usage.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 2 to Corindus Philips Distributor Agreement	Page 2 of 4



    	 



    

 


		5.9	Both companies will meet on a monthly basis to share updates on each company’s sales, Lead
generation, inform each other about customers interested in the Product and coordinate the marketing and sales process to address
operational matters necessary to enable supply and service of the Product, as part of the governance process described in Section
4 of the Distribution Agreement.



6.


Rules of Engagement of Sales force


		6.1	[***]



		6.2	For the avoidance doubt, nothing in this Agreement/Attachment restricts either Party’s discretion
to independently decide to supply any particular Customers.



7.


Sales Training


		7.1	Supplier will be responsible to design, develop and conduct a training program and training materials
free of charge for the Distributor sales and marketing organization. Each Party will bear its own travel and living cost.



		7.2	Distributor will be responsible to ensure that all members of its sales organization that are involved
in sales of the Product are adequately trained to perform their activities under this Agreement.



8.


Installation and Customer acceptance


		8.1	Both Parties will agree in the Management Committee on a detailed installation and Customer acceptance
schedule (including coordinating duties) for the following installation scenarios



		8.1.1	Installation with new Distributor Equipment



		8.1.2	Installation with existing Distributor Equipment



		8.1.3	Installation with existing Competitor Equipment



		8.2	Supplier is obliged to perform its obligations in line with the timing mutually agreed in the initial
project planning. It is expected that Supplier will complete Customer acceptance within 5 days after completion of Distributor
Equipment customer acceptance if applicable.



		8.3	Each Party will notify the other Party promptly if it they cannot meet the scheduled timeline.



		8.4	Supplier is responsible to install, perform customer training of the Products and ensure all requirements
are met for the Customer to sign the acceptance form for the Product, subject to Distributor installing any new Distributor Equipment,
if applicable.



9.


Product Introduction Strategy
for US Territory


Regulatory [anticipated
timeframe: [***]]:


		•	Corindus will use reasonable efforts to execute clinical trials to gain regulatory clearance for
the CorPath System and Disposable cassettes. CE mark for the CorPath System is anticipated by end of [***] and FDA regulatory clearance
is anticipated by end of [***].



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 2 to Corindus Philips Distributor Agreement	Page 3 of 4



    	 



    

 


Phase 0 [anticipated
timeframe: [***]]:


		•	Corindus will develop training plans, generate materials and run training programs in order to
properly train and educate Philips marketing and sales force, post FDA 510(k) submission. These activities will be aligned with
Philips’ iXR marketing team in Best and Philips’ NA sales and marketing management in Bothell. Both companies will
work towards introducing the CorPath System as part of Philips’ iXR catalogue.



		•	Philips will support educational activities to its US sales organization and customers regarding
the CorPath System value proposition.



		•	First draft Market Introduction Plan in Q1



		•	Parties will mutually conduct and fund a market research to assist Distributor in determining on
pricing strategy for the Product launch.



Phase 1 [anticipated
timeframe: [***]]:


		•	Immediately after receiving 510k approval, Philips and Corindus will start commercializing the
CorPath System to a defined number of reference and early adopter sites. The parties will work together to:



		•	Enable a successful launch basis for the Philips distribution of the CorPath System;



		•	Adequately deploy marketing and sales efforts to generate Leads;



		•	Field testing of the training, field implementation and adoption process of the CorPath System;



		•	Gain further insight in customer feedback before a full commercial launch of the CorPath System;



		•	Enable Corindus to determine further clinical studies it may conduct at its own cost to underpin
additional value proposition claims



Phase 2 [anticipated
timeframe: [***]]:


		•	Philips will use reasonable efforts to promote CorPath System and generate Leads, and work together
with Corindus to maximize Lead conversion into quotes and sales of the CorPath Systems.



 [***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 2 to Corindus Philips Distributor Agreement	Page 4 of 4



    	 



    

 


Attachment 6 – Countries


Countries where Supplier and Distributor
agree to commercialize the Product:


		1.	 US Territory as defined in the Distribution agreement



		2.	Additional countries will be added after mutual consent



 [***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 6 to Corindus Philips Distributor Agreement	Page 1 of 1



    	 



    

 


Attachment 7 – Business Metrics


1.


Generic Business Metrics


		1.1	Both parties agree to monitor the business based on the following parameters which are being reviewed
in the joint business review meetings of the Management Committee



	Metric	Description	Frequency	
        Owner

         

	Lead pipeline	
        Pipeline of # of leads after application of qualification
        criteria

         
	Monthly	Shared
	Cassette Sales	
        Disposable cassette Sales quantities per quarter

         
	Quarterly	Corindus
	Field Failure Rate	
        Technical field calls per unit of Product per year in average
        for all Products

         
	Monthly	Corindus


 


2.


Minimum Distributor requirements
for US Territory


		2.1	Both Parties agree on the following quarterly minimum requirements for Distributor:



		Q1	Q2	Q3	Q4	Q5	Q6	Q7	Q8
	# of purchase orders placed with Supplier	[***]	[***]	[***]	[***]	[***]	[***]	[***]	[***]


 


		2.2	Q1 -> Q8 mean three consecutive calendar months,



		2.3	Q1 starting with the 1st day of the month following the later of either (a) Product and Disposables
510(k) clearance by the FDA; or (b) the date on which Corindus has an inventory of the Product and Disposables that are released
for shipment to Customers, sufficient in number to meet the Q1 Minimum Distributor Requirements.



		2.4	It is explicitly understood and agreed that the Parties will revise these Minimum Distributor Requirements
for Q5 to Q8 during Q4, based on the Parties’ mutual experience during the first year of the Term. If both parties do not
mutually agree on such sales requirements during Q4, the Q5-Q8 sales value stated above will apply until the parties agree to revised
numbers.



		2.5	The Minimum Distributor Requirements are subject to sections 2.7 (second sentence), 2.9, and article
16 of the Distributor Agreement.



3.


Minimum Customer Satisfaction
Requirements


		3.1	Both Parties agree the following Minimum Customer Satisfaction Requirements, to be measured during
Q4 and Q6 above:



NPS score >[***]%


		3.2	The Minimum Customer Satisfaction Requirements are subject to sections 2.7, (second sentence) and
16 of the Distributor Agreement.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 7 to Corindus Philips Distributor Agreement	Page 1 of 1



    	 



    

 


Attachment 9 Quality


1.


Applicability and Scope


This Attachment sets forth certain
minimum quality, regulatory, and reliability requirements for the Products, as defined in the Distributor Agreement.


2.


Definitions


“CAPA”
shall mean Corrective Action Preventive Action as defined by FDA 


“MDR”
shall mean Medical Device Reporting as defined by FDA


3.


Quality Management System


Supplier must maintain a documented,
efficient and up to date quality management system according to the applicable regulations and standards. Additionally, Supplier’s
quality management system must be


		(i)	compliant with the FDA 21 Code of Federal Regulation Part 820 and other parts of CFR as applicable;



		(ii)	and certified to the relevant requirements of



		a.	the standard ISO 13485/2003,



		b.	the Medical Device directive 93/42/EEC and amendments (EU), if and when both Parties agree to commercialize
the Product in Europe (as specified in Attachment 6);



		c.	any other regulation, as applicable to those countries in which both Parties agree to commercialize
the Product as specified in Attachment 6, such as the Medical Device regulations (Canada), the JPAL regulation (Japan) or SFDA/CCC
regulations (China).



For each certification, Supplier
shall maintain the corresponding certificate issued by the accredited certification body. Upon request, Supplier shall provide
Distributor copies of such certificates free of charge in cases (a) necessary for Distributor to execute its obligations under
the Distributor Agreement and (b) if required by applicable laws or regulations. Supplier shall immediately inform Distributor
in writing of any material change to its quality management system, and certification status.


In particular, when Supplier has
received a notice of substantial non-compliance from a certification body or regulatory authority and this non-compliance may affect
its ability to provide Distributor with the Product, Supplier shall promptly notify Distributor in writing of such situation


4.


Product Control


Supplier shall ensure that that
each unit of Product shall, at the time of its shipment materially comply with the Specifications. In the event of any failure
for such unit to materially comply with the Specifications, Supplier shall repair or replace such unit to conform to the Specifications,
as set forth in Article 11 of the Distributor Agreement. Supplier shall provide Distributor the Specifications, which shall include
(without limiting the definition in the Agreement) performance and reliability specifications.


Before commercial launch at a
time and on conditions to be mutually agreed by the Parties, Supplier shall provide evidence that the Products materially comply
with the Specifications including but not limited to the performance and reliability specification, by Product demonstrations,
sharing of test, verification and validation reports or similar means. Supplier shall consider any advice from Distributor in good
faith.


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 9 to Corindus Philips Distributor Agreement	Page 1 of 8



    	 



    

 


Distributor must authorize the
initial shipment of new Products within three (3) business days after Supplier releases the Products and provides a certificate
to Distributor with a signature of its Quality Manager that the Products comply with


		(a)	their Specifications



		(b)	all relevant quality and regulatory requirements of safety & effectiveness in the country of
distribution (at minimum FDA 510(k) clearance, UL (or CSA) certification for US, and all applicable IEC standards).



This certificate will contain
all references to the obtained product safety testing approvals.


In addition to article 5.3 (Change
Process) of the Distribution Agreement, in case of changes which affect the way the Product interacts with Distributor Equipment
both Parties will mutually investigate Product compatibility and mutually approve, before shipment of Products with the change.
Supplier shall make reasonable efforts to support any Distributor request for compatibility tests and provide all relevant documentation.
As long as this Product change is not approved by Distributor, Supplier will ensure the availability of the previous Product version.


Notwithstanding the fact that
Distributor may have worked with Supplier in the preparation of the Specifications for Products, Distributor is relying on the
technical expertise of Supplier with respect to the adequacy of the Specifications and with respect to the proper manufacture of
the Product. Therefore Supplier shall be responsible for the Products materially meeting the Specifications, but also to the Products
achieving a quality level consistent with normal expectations of products in the medical industry.


5.


Process Control


Supplier shall control the quality
and strive for the continuous improvement of its manufacturing processes and those of its subcontractors through the use of monitoring
techniques and tools in Supplier’s reasonable business judgment, which may include: process-flows, Root Cause Analysis, capability
studies, risk analysis, failure mode and effect analysis, reliability calculations, measurement system analysis, gage R&R studies,
statistical process control (SPC), corrective actions and preventative actions, and process and product audits. Supplier shall
establish and maintain a quality measurement system and quality analysis process as determined in Supplier’s reasonable business
judgment, executed by appropriately skilled personnel. Supplier approach and results will be communicated to Distributor in a mutually
agreed format on a quarterly basis. This report at minimum shall contain mutually agreed data, CAPA plans and results.


Supplier will be fully responsible
to ensure that all process changes affecting Products, including process or design changes, changes to manufacturing processes
(including geographic location) changes affecting electrical performance, mechanical form or fit, function, environmental compatibility,
chemical characteristics, life, reliability or quality of Products or changes that could have significant impact upon Supplier’s
quality system will be in accordance with this Attachment.


Supplier shall provide to its
employees training courses to ensure that Supplier’s employees keep abreast of technical, regulatory and other developments
as determined in Supplier’s reasonable business judgment.


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 9 to Corindus Philips Distributor Agreement	Page 2 of 8



    	 



    

 


6.


Document Control


Supplier must have a suitable
document control and record retention policy that complies with applicable regulatory requirements for the Products. Supplier shall
establish and maintain design records, manufacturing records and quality records for each type of Product in accordance with applicable
regulatory requirements. Supplier shall provide Distributor upon request with copies of such records free of charge, in cases (a)
necessary for Distributor to execute its obligations under the Distributor Agreement and (b) in a timely manner, if required by
applicable laws or regulations


Supplier shall establish and maintain
a Design History File (“DHF”), as described in article 17, for each type of Product. In case of changes, the DHF grows
further during the maintenance phase of the Product. All changes, including all related applicable information such as revised
specifications, (new) calculations, hazard analyses and test reports, must be continually added to the DHF during this phase.


Supplier shall establish and maintain
a Device Master Record (“DMR”), as described in article 17, for each type of Product. The DMR must be in place at start
of regular production, including pre-production.


Supplier shall establish and maintain
a Device History Record (“DHR”), as described in article 17, for each individual Product. For each manufactured Product,
including those from pre-production, a DHR must be in place before delivery to the Customer.


Supplier shall archive these records
for a period of 15 years unless other retention time is needed by local regulatory requirements, and on request, provide Distributor
with a copy thereof free of charge in cases (a) necessary for Distributor to execute its obligations under the Distributor Agreement
and (b) in a timely manner, if required by applicable laws or regulations.


7.


Supply Chain Management


Supplier is responsible for its
supply chain. Supplier shall ensure that its suppliers have adequate quality management systems to ensure quality and delivery
performance throughout the entire supply chain as Supplier deems reasonably necessary. Supplier shall have adequate agreements
in place with its suppliers and ensure the quality of incoming goods.


8.


Product Quality


Distributors’ quality target
is zero defects for Products delivered by Supplier. Supplier shall ensure that the Products comply with medical industry standard
reliability requirements. Supplier shall execute and analyze all necessary reliability measurements, to produce evidence of reliability
requirements. In the event a potential reliability problem is discovered, Supplier shall notify Distributor immediately in writing;
likewise, Distributor shall inform Supplier in such an event.


Supplier shall be responsible
and bear all cost for the resolution of reliability for all delivered Products as determined by Supplier.


Supplier will process in a timely
manner all Product complaints reported to the Distributor (which Distributor will promptly report to Supplier) or directly to Supplier,
or reported by Distributor using the agreed complaint management system. Adequate corrections and corrective actions will be defined
by Supplier.


Complaints, malfunctions, defects
leading to MDR’s / adverse events reporting or recalls will comply with requirements of §15. Supplier will keep these
records on file for a minimum of 15 years unless longer retention time is required by applicable regulatory requirements.


Supplier will, upon request, provide
Distributor with a synthesized report of field failures/complaints trending on a periodic basis (monthly) so that Distributor is
aware of general Product performance and reliability and request Supplier corrections and/or corrective actions as necessary which
action will be determined by Supplier.


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 9 to Corindus Philips Distributor Agreement	Page 3 of 8



    	 



    

 


9.


Rejects and Corrective & Preventive
Actions


Distributor and/or Customers may
reject deliveries of Products that are not in material conformance with the Specifications In the event of any rejection, Supplier
shall repair or replace rejected Products to conform to the Specifications, as set forth in Article 11 of the Distributor Agreement.
Supplier shall inform Distributor of all actions to be taken by Supplier to comply with this Section.


10.


Recall Program


In case of recall program or failure
of the Product that may cause or contribute to injury or death or that, should it recur, may result in risk of injury or death,
the recall program will comply with requirements of §15. Supplier will be fully responsible to bear cost of the recall program
(except to the extent recall of Product is due to Distributor’s breach of the Distributor Agreement, negligence or wilful
misconduct) including, to the extent provided in Section 14.1 of the Distributor Agreement, the damages claimed by third parties
from Distributor and related labour and transportation cost, and perform the program in line with all applicable regulatory requirements.


11.


Traceability; Quality Records


Supplier shall ensure the traceability
of the Products such that, in the event an error is discovered, all other possible defective Products can be identified promptly
and may be restricted until such time as corrective measures can be taken.


Supplier is obliged to immediately
inform the Distributor in writing about any materially defective Products which has been delivered.


12.


Performance Measurement in the
Global Supplier Rating System (GSRS)


Distributor will measure the ongoing
performance of Supplier using the Global Supplier Rating System (“GSRS”) in the areas of Innovation, Responsiveness/Support,
Cost/Pricing, Delivery and Quality based on mutually to be agreed upon targets.


Both Parties goal is to have Supplier
be a “Green” Supplier as set forth in Distributor’s applicable GSRS scorecard. Distributor shall provide Supplier
with the applicable GSRS specification and notify Supplier in the event of changes to such specifications and targets in GSRS.


13.


Auditing


Distributor or its designee may
conduct, upon reasonable prior notice, audits or assessments at Supplier’s premises in order to verify and inspect Supplier’s
quality management system and capabilities in accordance with this Attachment.


In the event of quality problems
caused by goods supplied by Supplier’s subcontractors, Supplier is obliged to use reasonable efforts to develop and implement
correction and/or effective corrective action, which may include performing an audit at the subcontractor’s premises. Results
of such audit will be revealed to Distributor upon request. Audits of Supplier’s subcontractors by Distributor will only
be performed with Supplier’s agreement and only after Supplier could not resolve an issue in reasonable time. Results of
such audit will be revealed to Distributor upon request.


Any non conforming findings resulting
from Distributor audit has to be addressed by the Supplier within a timeline agreed between Supplier and Distributor and the corrective
action must be registered, documented and provided to Distributor. Evidence of the implementation will be provided to Distributor.


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 9 to Corindus Philips Distributor Agreement	Page 4 of 8



    	 



    

 


Supplier agrees to conduct periodic
and systematic internal audits of its operations against its quality management system. In the event that an audit determines substantial
non-compliance which might have an effect on Suppliers ability to perform under the Distributor Agreement, Supplier will promptly
notify Distributor of the nature of the non-compliance and will identify and implement reasonable corrective measures within a
reasonable time following the date on which non-compliance is first determined. In response to Supplier’s notice, Distributor
may suggest additional corrective measures.


CAPA Records associated with the
non compliance and resolution will be maintained for 15 years unless longer retention time is required by locally applicable regulation.


14.


Communications


Both Parties will designate individuals
as quality assurance representative to administer the implementation of this Attachment and perform the coordinating activities
required within its scope. Each Party will advise the other Party of any change of representatives or contact persons in writing.


15.


Adverse Events and Field Corrections
and Removals


If Supplier becomes aware of complaints
leading or that might lead to risk to health, injury or death, or is contacted by the FDA or other national regulatory authorities
with authority over the Product about its Products, Supplier shall notify Distributor’s quality officer (names to be defined
later) within three (3) business days after Supplier became aware of the complaint or the contact.


Supplier is responsible for filing
regulatory notifications and reports (e.g. Product adverse event reports, recall reports, etc.) with regulatory agencies within
the timescale as required by regulation; notification of Product adverse event reports and recall reports to authorities and Customers
must be copied to Distributor.


Supplier shall provide Distributor
with a copy of any written or electronic communication that it receives from FDA or any other governmental authority that threatens
or seeks enforcement action, including, but not limited to, a voluntary or mandatory recall, detention, seizure, injunction, prosecution,
or civil fines, and is reasonably related to the Products covered by this Agreement (e.g. an FDA Warning Letter).


It shall be the responsibility
of the Supplier to submit any Mandatory Problem Reporting required by regulatory authorities for the Product. Distributor will
assist the Supplier in Product failure investigation (and vice versa) in case (a) the Product is used in combination with the Distributor
Equipment, (b) has led to a compatibility statement and (c) Distributor Equipment or Supplier’s Product may have contributed
to the failure of the other product. Additionally, the term “Manufacturer” as referred to in Chapter 21 of the CFR
(or its foreign equivalents), and all requirements thereof, shall mean ‘Supplier’ or ‘Distributor’ for
their own respective finished products.


16.


Requirements for Sterile Products


Supplier shall use reasonable
efforts to ensure that all related sterile Disposables sold by Supplier to Customer for use with the Product are processed by Supplier’s
subcontractor in accordance with applicable sterilization standards.


Device History Records for sterile
Disposables shall identify the specific process parameters for the sterilization process(es) that was used for each batch/lot of
Disposable. Sterilization records shall be traceable to each production batch / lot of Disposables. DHR’s for sterile Disposables
shall be archived / maintained per the Document Control section (§6) of this Agreement.


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 9 to Corindus Philips Distributor Agreement	Page 5 of 8



    	 



    

 


Supplier or its sub-contractor
shall maintain documented procedures for the validation of sterilization processes for the sterile Disposables. Sterilization processes
shall be validated or show evidence of sterility per applicable standards prior to initial use and per the agreed upon revalidation
period. Records of validation of each sterilization process shall be maintained and shared with Distributor upon request in cases
(a) necessary for Distributor to execute its obligations under the Distributor Agreement and (b) in a timely manner if required
by applicable laws or regulations.


17.


Document Requirement 


Design
History File (DHF)


These files contain all relevant
documents generated during creation and implementing of the design. The DHF shall contain or reference the records necessary to
demonstrate that the design was developed in accordance with the approved design plan and the requirements of standards cited in
Section 2. Quality Management System.


		1.	Design and development plans: Continually updated plans for the design and development of a Product that describes all
the activities and responsibilities according to applicable standards.



		2.	Design input: Establish the requirements for the Product to be developed. This should include appropriate hazard analysis
outputs.



		3.	Design review: Reviews conducted with and approved by all applicable personnel to assure that the development is progressing
according to plan.



		4.	Design verification: Verification that Product meets requirements as defined in applicable standards



		5.	Design validation: Validation that Product meets requirements as defined in applicable standards



		6.	Design transfers: Ensure design is correctly described in the production process.



		7.	Design changes: Ensure controlled iteration of design changes with appropriate approvals and verification / validation.



		8.	Design output: Specifications that are measurable references of the Product requirements.



Device Master Record (DMR) (required
for all Suppliers)


These files cover the Product
specifying documents and the manufacturing documents.


		1.	Device specification: All relevant documented drawings and list of components, describing the product for regular production.



		2.	Production process specification: Instructions used for manufacturing and assembling the Product, including equipment
and environmental requirements.



		3.	Quality assurance procedures and specifications: Instructions used for testing the Product, including equipment requirements.



		4.	Packaging and labeling specifications: Including generation methods.



[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 9 to Corindus Philips Distributor Agreement	Page 6 of 8



    	 



    

 


		5.	Installation, maintenance and servicing: Procedures and methods, as appropriate



Device History Record (DHR )
(required for all Suppliers)


These files cover the history
of all manufactured Products, to guarantee its traceability and demonstrate it is manufactured in accordance with the DMR and Product
requirements.


		6.	Dates of manufacture 



		7.	Quantity manufactured 



		8.	Quantity released 



		9.	Acceptance records 



These records will demonstrate
Product was manufactured in accordance with DMR (see DMR point 4). This will include documentation of any non-conformances to the
DMR.


		10.	Identification label/labeling: For each unit.



		11.	Device identification and control #’s



		•	Batch #



		•	Lot #



		•	Serial #’s



		12.	Additional: _________________



18.


Supplier quality system standards


Supplier will list the following
quality system standards the Supplier comply with:


ISO 13485 (specify the version
:           )


	Revision: 2003	Accredited Certifying Body:  	       BSI


 


	Certification No.:   	FM 549271	 	Certification Date:   	9/9/2009


 


	Expiration Date:   	     9/8/2012


 


	Site covered by certification:  	     Natick, MA


 


Product scope covered by certification:   Design,
Development, Manufacture and Servicing of Robotic Systems to assist physicians and facilitate the performance of minimally invasive
interventional procedures.


 


EC Directive 93/42/EEC (MDD) Annex
II


 


	Revision:   	 	 	Accredited Certifying Body:   	       BSI


 


	Certification No.: 	 	 	Certification Date:   	 


 


	Expiration Date:   	 


 


	Site covered by certification:   	     Natick, MA


 


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 




    	Attachment 9 to Corindus Philips Distributor Agreement	Page 7 of 8



    	 



    

 


Product scope covered by certification:
Design, Development, Manufacture and Servicing of Robotic Systems to assist physicians and facilitate the performance of minimally
invasive interventional procedures.


FDA Registration


Registration No.: _____________      Registration
Date: __________________________


Expiration Date: __________________________


Site covered by registration:
__________________________


Product scope covered by registration:
________________________________


Other Quality System standard(s):
________________________________________


Accredited Certifying Body _______________________________________________


Certification No.____ __________________Certification
Date__________________________


Expiration Date __________________________


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 



    	Attachment 9 to Corindus Philips Distributor Agreement	Page 8 of 8



    	 



    

 


 


[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 



    	 



    	 



    

 





[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 



    	 



    	 



    








[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 



    	 



    	 



    




  


 


[***] Certain information in this document has been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions. 



    	 



    	 



    




 








[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 



    	 



    	 



    







[***]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.