Document:

Exhibit
10.2

 

Redactions
with respect to certain portions hereof denoted with “***”

 

Joint
Development and Option Agreement 

 

Preamble

 

This
Joint Development and Option Agreement (“JDA”), effective and binding as of the last date of execution herein
(“EFFECTIVE DATE”), is by and between The Cleveland Clinic Foundation (hereinafter referred to along with its
AFFILIATEs as “CCF”), an Ohio non-profit corporation with offices located at 9500 Euclid Avenue, Cleveland,
Ohio 44195; and Anixa Biosciences, Inc. (hereinafter referred to as “COMPANY”), a Delaware corporation having
its principal office at 3150 Almaden Exp., Suite 250, San Jose, CA 95118.

 

Background

 

WHEREAS,
the PARTIES have an interest in working together to develop vaccines for the prevention and treatment of ovarian cancer.

 

WHEREAS,
the project contemplated hereby is of mutual interest and benefit to CCF and COMPANY and will be consistent with the objectives
of both PARTIES in a manner consistent with the status of CCF as a nonprofit institution.

 

NOW
THEREFORE, in consideration of the mutual covenants and promises herein made, CCF and COMPANY agree as follows:

 

Agreement

 

	1.	Definitions

 

	 	1.1.	“AFFILIATE”
    means any corporation, association or other entity that directly or indirectly controls, is controlled by, or is under
    common control with the PARTY in question. As used in this definition, the term “control” means direct or indirect
    beneficial ownership of more than 50% of the voting or equity interest in such corporation or other business entity.
	 	 	 
	 	1.2.	“BACKGROUND
    IP” means the CCF BACKGROUND IP or the COMPANY BACKGROUND IP, as the case may be.
	 	 	 
	 	1.3.	“COLLABORATION
    FIELD” means vaccines for the prevention or treatment of ovarian cancer and other cancers which express the Anti-Mullerian
    Hormone Receptor 2 (AMHR2) protein, including an Anti-Mullerian Hormone Receptor 2 protein with an extracellular domain (AMHR2-ED),
    corresponding adjuvants and any companion diagnostics.
	 	 	 
	 	1.4.	“CCF”
    is defined in the Preamble.
	 	 	 
	 	1.5.	“CCF
    BACKGROUND IP” means any IP first conceived, developed, reduced to practice, acquired and/or otherwise controlled
    by CCF or its AFFILIATES either (i) prior to the EFFECTIVE DATE or (ii) outside of the scope of this JDA and during the TERM
    of this JDA, including rights arising in the course of prosecution and maintenance of such IP.
	 	 	 
	 	1.6.	“CCF
    INVENTIONS” is defined in Paragraph 5.2.2.
	 	 	 
	 	1.7.	“CCF
    PROJECT TEAM” shall mean the following individuals: Vince Tuohy, Justin Johnson, Chhavi Jain and Suparna Mazumder.
	 	 	 
	 	1.8.	“CLINICAL
    TRIALS” is defined in Paragraph 2.6.
	 	 	 
	 	1.9.	“COMPANY
    BACKGROUND IP” means any IP first conceived, developed, reduced to practice, acquired, and/or otherwise controlled
    by COMPANY or its AFFILIATES either (i) prior to the EFFECTIVE DATE or (ii) outside of the scope of this JDA and during the
    TERM of this JDA, including rights arising in the course of prosecution and maintenance of such IP. 

 

    	1

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	1.10.	“COMPANY
    INVENTIONS” is defined in Paragraph 5.2.1.
	 	 	 
	 	1.11.	“CONFIDENTIAL
    INFORMATION” means all non-public, confidential or proprietary information of a PARTY, or its AFFILIATES or REPRESENTATIVES,
    that is disclosed directly or indirectly from or on behalf of the DISCLOSING PARTY to the RECEIVING PARTY, whether in oral,
    written, electronic or other form or media, whether or not such information is marked, designated or otherwise identified
    as “confidential” and that, due to the nature of its subject matter or circumstances surrounding its disclosure,
    would reasonably be understood to be confidential or proprietary, including, without limitation, the terms and existence of
    this JDA.
	 	 	 
	 	 	CONFIDENTIAL
    INFORMATION does not include information that the RECEIVING PARTY can demonstrate by documentation or other evidence (i) was
    already known to the RECEIVING PARTY without restriction on use or disclosure prior to the receipt of such information directly
    or indirectly from or on behalf of the DISCLOSING PARTY; (ii) was independently developed by the RECEIVING PARTY without use
    of or reference to the DISCLOSING PARTY’s CONFIDENTIAL INFORMATION; (iii) is or becomes generally known to the public
    or otherwise becomes publicly available, other than through a breach of this JDA or the License Agreement by the RECEIVING
    PARTY; or (iv) is or was made available to the RECEIVING PARTY on a non-confidential basis by a THIRD PARTY having the lawful
    right to do so without breaching any obligation of confidentiality to the DISCLOSING PARTY.
	 	 	 
	 	1.12.	“DISPUTE”
    is defined in Paragraph 9.1.
	 	 	 
	 	1.13.	“EFFECTIVE
    DATE” is defined in the Preamble.
	 	 	 
	 	1.14.	“INTELLECTUAL
    PROPERTY” is also referred to as “IP” and means any rights in INVENTIONS, patents, trademarks,
    copyrights or any other proprietary rights relating to intangible property anywhere in the world, and all registrations and
    applications related to any of the foregoing and analogous rights thereto anywhere in the world. 
	 	 	 
	 	1.15.	“INVENTION”
    means any creative or technical idea, design, development, discovery, drawing, data, analysis, trade secret, technology,
    process or method, know-how, material composition, article of manufacture, machine, or work result, including business and
    marketing plans, prototypes, specifications, developed or discovered in performing the PROJECT, whether or not patentable.
	 	 	 
	 	1.16.	“JDA”
    means this Joint Development and Option Agreement, as amended from time to time.
	 	 	 
	 	1.17.	“JOINT
    INVENTIONS” is defined in Paragraph 5.2.3.
	 	 	 
	 	1.18.	“LICENSE
    AGREEMENT” means that certain Exclusive License Agreement between the PARTIES dated October 20, 2020. 
	 	 	 
	 	1.19.	“LOSSES”
    means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties,
    fines, costs or expenses of whatever kind, including reasonable attorneys’ fees and the cost of enforcing any right
    to indemnification hereunder and the cost of pursuing any insurance providers.
	 	 	 
	 	1.20.	“OPTION
    PERIOD” is defined in Paragraph 6.2.1.
	 	 	 
	 	1.21.	“PARTY”
    means either CCF or COMPANY, and “PARTIES” means the two collectively.
	 	 	 
	 	1.22.	“PATENT
    RIGHTS” means foreign and domestic patent and/or design application(s), including continuations, continuations-in-part,
    divisionals, reissues, reexaminations, extensions and renewals thereof, and patents/registrations issuing therefrom. 

 

    	2

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	1.23.	“PRODUCT”
    means any embodiment of an INVENTION. PRODUCT may take the form of, but shall not be limited to, a formula, description
    or performance of a process, device, software program, or service. 
	 	 	 
	 	1.24.	“PROJECT”
    is defined in Paragraph 2.1.
	 	 	 
	 	1.25.	“PROSECUTION”
    means preparing, filing, prosecuting, and/or maintaining a subject patent application(s) and/or patent(s).
	 	 	 
	 	1.26.	“TECHNICAL
    REPRESENTATIVE” is defined in Paragraph 2.3.
	 	 	 
	 	1.27.	“TERM”
    is defined in Paragraph 8.1.
	 	 	 
	 	1.28.	“THIRD
    PARTY” or “THIRD PARTIES” means any individual(s), corporation(s), association(s), government
    agencies, or other entity(ies), which is/are not a PARTY or any of its AFFILIATES.
	 	 	 
	 	1.29.	“WORK
    PLAN” is defined in Paragraph 2.1.

 

	2.	Collaborative
    Project

 

	 	2.1.	PROJECT.
    The PARTIES will collaborate in efforts (undertaken jointly and individually) that are intended to result in the development
    of one or more products in the COLLABORATION FIELD as set forth in this JDA (such efforts referred to as the “PROJECT”).
    Particular goals of the PROJECT will be defined generally by the schedule of activities, responsibilities, milestones, and
    objectives (“WORK PLAN”), which shall be set forth in Schedule A, attached hereto and incorporated herein.
    The PARTIES will review and may update the WORK PLAN by mutual agreement from time to time, provided that any amendment to
    the WORK PLAN made subsequent to the execution of this JDA shall be signed by both PARTIES in accordance with Paragraph 11.4.
	 	 	 
	 	2.2.	Project
    Performance. Each PARTY will promptly undertake performance of the PROJECT. During the TERM of the JDA, the PARTIES will
    endeavor to perform their respective duties and to develop and submit to each other any deliverables identified in the WORK
    PLAN using reasonable efforts. COMPANY acknowledges and agrees that the PROJECT is a research project and successful completion
    of the research is not assured. Each PARTY acknowledges and agrees that as long as the other PARTY uses its reasonable efforts
    to perform its obligations under this JDA, including the WORK PLAN, such other PARTY shall not be in default under this JDA
    for any failure to achieve any particular result or deliverable. Each PARTY will ensure that its respective employees, contractors,
    and students who perform the PROJECT (including the CCF PROJECT TEAM) and/or have access to the CONFIDENTIAL INFORMATION of
    the other PARTY (a) are bound by written non-disclosure and non-use agreements at least as restrictive as those set forth
    in Article 4 and (b) are contractually obligated to assign and transfer to such PARTY all right, title and interest to the
    INVENTIONS and all IP therein.
	 	 	 
	 	2.3.	Technical
Representative. Each PARTY will designate two of the PARTY’s employees as the principal technical representatives (“TECHNICAL
REPRESENTATIVE”) for consultation and communications between the PARTIES. A PARTY may change a TECHNICAL REPRESENTATIVE
at any time, upon written notice to the other PARTY. 
	 	 	 
	 	2.4.	Reports.
    The TECHNICAL REPRESENTATIVES will be reasonably available by telephone, e-mail, or in person to discuss the progress
    and results, as well as ongoing plans, or changes therein, of the work under the PROJECT. 
	 	 	 
	 	2.5.	Funding.
    Except as specifically provided to the contrary in this JDA, all costs, fees and/or expenses incurred in connection with
    this JDA will be paid by the PARTY incurring such costs, fees and/or expenses. 

 

    	3

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	2.6.	Human
Clinical Trials: If the PARTIES identify a need for which COMPANY desires to engage CCF to perform and/or coordinate research
with human subjects (“CLINICAL TRIALS”), then the PARTIES will execute a clinical trial agreement to govern
the CLINICAL TRIALS prior to proceeding.
	 	 	 
	 	2.7.	Non-Employee
    Access. COMPANY, and its personnel, employees, or agents (“COMPANY STAFF”) may visit CCF’s facilities
    and interact with CCF’s employees only if such participation is explicitly provided for in Schedule A. Such visitations
    and interactions shall be at mutually agreed upon times, during normal business hours and subject to COMPANY STAFF’s
    compliance with CCF’s policies and credentialing procedures for non-employee access to its facilities, patients, and/or
    records. COMPANY STAFF will at all times be under COMPANY’s direction and control and will not be deemed employees of
    CCF. COMPANY shall ensure that COMPANY STAFF are covered by general liability, worker’s compensation and unemployment
    insurance and will discharge all other obligations of an employer as applicable. Use of or access to any CCF facilities, equipment
    or materials (collectively “CCF Resources”) by COMPANY STAFF shall be at COMPANY’s sole risk and
    only with the prior written approval of the CCF PROJECT TEAM. COMPANY shall be solely liable for any damages, loss or harm
    caused by COMPANY STAFF while on CCF property, provided COMPANY shall not be liable to the extent such damage, loss or harm
    is directly attributable to the negligence or willful misconduct of CCF or CCF’s personnel. Use of or access by COMPANY
    STAFF cannot conflict with use required by CCF patients or CCF personnel (who shall always have first priority of use). There
    will be no use of radioactive materials by COMPANY STAFF. Restricted materials may be used or accessed only with the express
    written agreement of the CCF PROJECT TEAM and only under conditions that fully comply with CCF regulations and licenses, including
    full disclosure to CCF’s Facility Safety Officials. CCF shall not be liable for failure or interruption of utilities,
    equipment or other CCF Resources in connection with COMPANY’s access rights under this Paragraph 2.7. No COMPANY STAFF
    shall have any supervisory right or authority over any employee, agent or student of CCF. While on CCF’s campus and/or
    using CCF Resources, COMPANY STAFF shall abide by all applicable laws and CCF policies and procedures.

 

	3.	Payments

 

	 	3.1.	Option
    Fee. COMPANY will pay CCF a non-refundable, option fee totaling $*** payable within *** of the EFFECTIVE DATE.
	 	 	 
	 	3.2.	Development
    Funding. COMPANY will provide USD$*** in development funding. The first payment of $*** shall be paid within *** of the
    EFFECTIVE DATE, and the remaining $*** shall be paid on ***. 
	 	 	 
	 	3.3.	Time
    is of the essence with respect to this payment. All payments shall be due and payable in U.S. dollars. Any past due amounts
    shall accrue interest at an annual rate equal to ***.

 

	4.	Confidentiality

 

	 	4.1.	Confidentiality
    Obligations. Each PARTY (the “RECEIVING PARTY”) acknowledges that in connection with this JDA it will
    gain access to CONFIDENTIAL INFORMATION of the other PARTY (the “DISCLOSING PARTY”). As a condition to
    being provided with CONFIDENTIAL INFORMATION, the RECEIVING PARTY shall:

 

	 	4.1.1.	not
    use the DISCLOSING PARTY’s CONFIDENTIAL INFORMATION other than as necessary to exercise its rights and perform its obligations
    under this JDA or the License Agreement; and
	 	 	 
	 	4.1.2.	maintain
    the DISCLOSING PARTY’s CONFIDENTIAL INFORMATION in strict confidence and, subject to Paragraph 4.2, not disclose the
    DISCLOSING PARTY’s CONFIDENTIAL INFORMATION without the DISCLOSING PARTY’s prior written consent, provided, however,
    the RECEIVING PARTY may disclose the CONFIDENTIAL INFORMATION to its employees, officers, directors, consultants and legal
    advisors (“REPRESENTATIVES”) who:

 

    	4

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	4.1.2.1.	have
    a need to know the CONFIDENTIAL INFORMATION for purposes of the RECEIVING PARTY’s performance, or exercise of its rights
    concerning the CONFIDENTIAL INFORMATION, under this JDA or the License Agreement;
	 	 	 
	 	4.1.2.2.	have
    been apprised of this restriction; and
	 	 	 
	 	4.1.2.3.	are
    themselves bound by written non-disclosure and non-use agreements at least as restrictive as those set forth in this Paragraph
    4.1, provided further that the RECEIVING PARTY shall be responsible for ensuring its REPRESENTATIVES’ compliance with,
    and shall be liable for any breach by its REPRESENTATIVES of, this Paragraph 4.1.

 

The
RECEIVING PARTY shall use reasonable care, at least as protective as the efforts it uses for its own confidential information,
to safeguard the DISCLOSING PARTY’s CONFIDENTIAL INFORMATION from use or disclosure other than as permitted hereby.

 

	 	4.2.	Exceptions.
    If the RECEIVING PARTY becomes legally compelled to disclose any CONFIDENTIAL INFORMATION, the RECEIVING PARTY shall:

 

	 	4.2.1.	provide
    prompt written notice to the DISCLOSING PARTY so that the DISCLOSING PARTY may seek a protective order or other appropriate
    remedy or waive its rights pursuant to Paragraph 11.12; and
	 	 	 
	 	4.2.2.	disclose
    only the portion of CONFIDENTIAL INFORMATION that it is legally required to furnish.

 

If
a protective order or other remedy is not obtained, or the DISCLOSING PARTY waives compliance in accordance with Paragraphs 11.10
and 11.12, the RECEIVING PARTY shall, at the DISCLOSING PARTY’s expense, use reasonable efforts to obtain assurance that
confidential treatment will be afforded the CONFIDENTIAL INFORMATION.

 

	 	4.3.	Confidential
    Terms. Notwithstanding anything to the contrary herein, the PARTIES may disclose the terms and existence of this JDA to
    potential or actual investors, acquirers, sublicensees, collaboration partners, consultants, advisors and others on a reasonable
    need to know basis subject to customary confidentiality restrictions, or as required by securities or other applicable laws.
	 	 	 
	 	4.4.	Scientific
    Publications. COMPANY recognizes and accepts the importance of communicating medical study and scientific data and the
    necessity of conveying such information in a timely manner, and, therefore, encourages their publication in reputable scientific
    journals and at seminars or conferences. COMPANY further recognizes and accepts that under CCF’s mission as an academic
    medical center, CCF and its investigators must have a meaningful right to publish without COMPANY’s approval or editorial
    control; provided that CCF shall comply with the requirements in this Paragraph 4.4. CCF shall submit to COMPANY for
    its review a copy of any proposed manuscript *** prior to the estimated date of submission for publication. Within *** of
    receiving such manuscript (the “REVIEW PERIOD”), if COMPANY reasonably determines that the proposed publication
    contains patentable subject matter which requires protection for COMPANY, COMPANY may require the delay of publication for
    a period of time not to exceed *** for the purpose of filing patent applications. Further, CCF and its investigators agree
    to remove from the proposed publication anything that COMPANY identifies within the REVIEW PERIOD as COMPANY’s CONFIDENTIAL
    INFORMATION. If no written response is received from COMPANY within the REVIEW PERIOD, it may be conclusively presumed that
    publication may proceed without delay. For avoidance of any doubt, CCF and the CCF PROJECT TEAM (while employees of CCF) retain
    the right to publish any medical study or scientific data arising from the PERMITTED RESEARCH (as defined in Paragraph 6.4),
    subject to compliance with this Paragraph 4.4.

 

    	5

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	5.	INVENTION
    Rights

 

	 	5.1.	BACKGROUND
    IP. Each PARTY’s BACKGROUND IP will remain the absolute unencumbered property of the respective PARTY. Except for
    the limited rights explicitly set forth in Paragraph 5.8 (Right to Use BACKGROUND IP & INVENTIONS), this JDA does not
    confer any rights under the BACKGROUND IP of either PARTY. 
	 	 	 
	 	5.2.	INVENTION
    Rights. INVENTIONS will be owned as follows:

 

	 	5.2.1.	COMPANY
    INVENTIONS. All INVENTIONS made solely by COMPANY employees or contractors in performance of the PROJECT and during the
    TERM and OPTION PERIOD together with all IP therein will, as between COMPANY and CCF, be owned solely by COMPANY (“COMPANY
    INVENTIONS”).
	 	 	 
	 	5.2.2.	CCF
    INVENTIONS. All INVENTIONS made solely by CCF employees, contractors or students in performance of the PROJECT and during
    the TERM and OPTION PERIOD together with all IP therein will, as between COMPANY and CCF, be owned solely by CCF (“CCF
    INVENTIONS”). 
	 	 	 
	 	5.2.3.	JOINT
    INVENTIONS. All INVENTIONS made jointly by COMPANY employees or contractors and by CCF employees, contractors or students
    in performance of the PROJECT and during the TERM and OPTION PERIOD, in each case together with all IP therein, will be jointly
    owned by COMPANY and CCF (“JOINT INVENTIONS”). Subject to the rights and licenses granted under this JDA
    and the License Agreement, with respect to JOINT INVENTIONS, each PARTY hereby confirms that nothing in this JDA shall operate
    in any way to limit the other PARTY’s indivisible, non-exclusive ownership interest in and to such JOINT INVENTIONS,
    including the right to use and exploit the JOINT INVENTIONS for all purposes on a worldwide basis, without consent of and
    without a duty of accounting to the other PARTY.
	 	 	 
	 	5.2.4.	Cooperation
    in Transferring Title. The PARTIES will cooperate fully with each other and/or the other PARTY’s attorneys in vesting
    title as provided in Article 5 (INVENTION Rights), including executing documents as necessary to effectuate the intent of
    the foregoing.

 

	 	5.3.	Notification
    of INVENTION. Each PARTY will provide the other PARTY with timely notification in writing of each INVENTION developed
    solely or jointly by such PARTY (“INVENTION DISCLOSURE”).
	 	 	 
	 	5.4.	PROSECUTION
    of Patent Applications. During the TERM and the applicable OPTION PERIOD, CCF will have the exclusive responsibility to
    conduct PROSECUTION and enforcement of PATENT RIGHTS within the CCF INVENTIONS and JOINT INVENTIONS at CCF’s sole discretion
    (but using patent counsel reasonably acceptable to COMPANY), subject to Paragraph 5.6 (Abandonment), and COMPANY will be responsible
    for all documented, out-of-pocket costs associated with such PROSECUTION. CCF will keep COMPANY informed of such PROSECUTION,
    consider COMPANY’s comments and suggestions prior to taking material actions for the same, and consider actions reasonably
    recommended which would expand the scope of rights sought. COMPANY will provide written communication of items of commercial
    interest and CCF will cooperate to insure that the PROSECUTION of each CCF INVENTION and JOINT INVENTION reflects, and will
    reflect, to the extent practicable, these items of commercial interest. Final decisions on PROSECUTION of CCF INVENTIONS and
    JOINT INVENTIONS will be at CCF’s sole discretion, subject to Paragraph 5.6 (Abandonment). If COMPANY does not exercise
    the OPTION with respect to a particular CCF INVENTION or JOINT INVENTION during the corresponding OPTION PERIOD, then (i)
    in the case of a CCF INVENTION, COMPANY will thereafter no longer be responsible for any costs associated with PROSECUTION
    of PATENT RIGHTS within such CCF INVENTION, and (ii) in the case of a JOINT INVENTION, the PARTIES will discuss in good faith
    and mutually agree in writing as to which PARTY will have responsibility to conduct further PROSECUTION and enforcement of
    PATENT RIGHTS within such JOINT INVENTION, including the allocation of the costs and any recoveries associated with such PROSECUTION
    and enforcement.

 

    	6

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	5.5.	Review
    of Patent Applications Prior to Filing. A PARTY will not file any patent application that discloses CONFIDENTIAL INFORMATION
    of the other PARTY and/or claims an INVENTION without prior notice to, and review by, the other PARTY. The reviewing PARTY
    will be given at least *** in which to review and comment on the patent application, unless the reviewing PARTY agrees on
    a term which is shorter than ***. The reviewing PARTY will have the right to require that any CONFIDENTIAL INFORMATION of
    the reviewing PARTY be removed from the patent application, in accordance with Article 4 (Confidentiality); with the limited
    exception that those portions of CONFIDENTIAL INFORMATION that are INVENTIONs owned by either PARTY pursuant to Article 5
    (INVENTION Rights) and are required to be disclosed by the filing PARTY in the subject patent application to secure PATENT
    RIGHTS to which the filing PARTY is entitled under this JDA, may remain in the patent application.

 

	 	5.5.1.	Review
    of OFFICE ACTIONS. CCF will instruct its outside counsel to provide to COMPANY or its designated patent counsel copies
    of all materially relevant correspondence to and from the U.S. Patent and Trademark Office, and all correspondence related
    to counterpart foreign patent applications, including correspondence from foreign associates and from government agencies,
    in connection with CCF’s PROSECUTION of PATENT RIGHTS under this Article 5. 

 

	 	5.6.	Abandonment.
    Notwithstanding Paragraph 5.4 (PROSECUTION of Patent Applications), CCF may elect to abandon PROSECUTION at any time,
    including prior to beginning PROSECUTION. If CCF chooses to abandon or not to begin PROSECUTION, then CCF will provide COMPANY
    at least *** prior written notice of such intended abandonment and the right to assume PROSECUTION of the PATENT RIGHTS that
    were to be abandoned. If COMPANY elects to assume PROSECUTION of such PATENT RIGHTS, then COMPANY will be responsible for
    all subsequent costs associated with the PROSECUTION of the subject PATENT RIGHTS; and CCF will assign the subject PATENT
    RIGHTS to COMPANY. Following any such assignment, during the TERM and the applicable OPTION PERIOD, to the extent necessary
    to carry out the PROJECT, COMPANY grants to CCF a worldwide, royalty-free, non-exclusive, license, without the right to sublicense,
    to practice the subject PATENT RIGHTS. CCF will use best efforts not to abandon patents of interest to COMPANY. If, within
    *** of providing such written notice of intended abandonment, CCF does not receive written notice from COMPANY electing to
    assume PROSECUTION, CCF may subsequently proceed with abandonment of the subject PATENT RIGHTS at its discretion. Failure
    to exercise commercially reasonable efforts to enforce PATENT RIGHTS shall be deemed abandonment thereof under this Paragraph.
    
	 	 	 
	 	5.7.	PROSECUTION
    in Countries Not Elected by CCF. If COMPANY desires to file a patent application in countries other than those CCF desires
    to file in, then the subject PATENT RIGHTS (for such country) shall be deemed intended to be abandoned by CCF, and therefore
    treated as such under Paragraph 5.6 (Abandonment). COMPANY will be free to file such patent applications in the desired other
    countries at its own expense; and CCF will assign the subject PATENT RIGHTS for such country to COMPANY. Concurrent with CCF’s
    assignment of the patent application to COMPANY, COMPANY grants CCF during the TERM and OPTION PERIOD, to the extent necessary
    to carry out the PROJECT, a worldwide, royalty-free, non-exclusive, license, without the right to sublicense, to practice
    the subject PATENT RIGHTS. 

 

    	7

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	5.8.	Right
    to Use BACKGROUND IP & INVENTIONS. 

 

	 	5.8.1.	During
    the TERM and OPTION PERIOD. The PARTIES shall have the following license rights. 

 

	 	 	5.8.1.1.	CCFs
    Rights. During the TERM and OPTION PERIOD, to the extent necessary to carry out the PROJECT, COMPANY grants CCF a non-exclusive,
    royalty-free, non-transferable, worldwide license without the right to sublicense to practice COMPANY BACKGROUND IP and COMPANY
    INVENTIONS. 
	 	 	 	 
	 	 	5.8.1.2.	COMPANY’s
    Rights. During the TERM and OPTION PERIOD, to the extent necessary to carry out the PROJECT, CCF grants COMPANY a non-exclusive,
    royalty-free, non-transferable, worldwide license without the right to sublicense to practice CCF BACKGROUND IP and CCF INVENTIONS.

 

		5.9.	No
                                         Implied Rights. Except as expressly set forth herein, neither COMPANY nor CCF transfers
                                         to the other PARTY, by operation of this JDA, rights to any patent, copyright, trademark,
                                         or other IP of any kind.

 

	6.	Option
    to License 

 

	 	6.1.	Option
    Grant. CCF grants COMPANY an exclusive option to take a license under certain IP of CCF in the COLLABORATION FIELD, as
    follows (“OPTION”):

 

	 	6.1.1.	Option
    for Patent License. CCF grants COMPANY an exclusive option to obtain an exclusive, royalty-bearing, worldwide license,
    with the right to sublicense, subject to the terms and conditions of the License Agreement, under any PATENT RIGHTS within
    the CCF INVENTION or JOINT INVENTION. 
	 	 	 
	 	6.1.2.	Exercise
    of OPTION. On a CCF INVENTION-by-CCF INVENTION and JOINT INVENTION-by-JOINT INVENTION basis, COMPANY may exercise the
    OPTION with respect to the PATENT RIGHTS claiming the applicable INVENTION anytime during the the OPTION PERIOD with respect
    to such INVENTION by providing CCF written notice specifically declaring COMPANY’s intent to exercise the OPTION. Upon
    providing such notice, all PATENT RIGHTS claiming the applicable INVENTION are hereby automatically deemed to be Licensed
    Patents under, and subject to the terms and conditions of, the License Agreement, and the definition of Licensed Patents thereunder
    is hereby automatically deemed to be amended to include such PATENT RIGHTS, without any further action by either PARTY. For
    clarity, in such event, the PROSECUTION and enforcement of such PATENT RIGHTS will thereafter be governed by the terms and
    conditions of the License Agreement (and no longer by Article 5 of this JDA).
	 	 	 
	 	6.1.3.	Exclusive
    Option. The OPTION is exclusive in that during the applicable OPTION PERIOD, CCF will neither enter into a transaction
    nor negotiate with a THIRD PARTY for access to the applicable CCF INVENTION or JOINT INVENTION, or the underlying INTELLECTUAL
    PROPERTY (subject only to a reservation of rights for CCF to practice the subject INTELLECTUAL PROPERTY as described below
    in Paragraph 6.4).

 

	 	6.2.	Option
    Period

 

	 	6.2.1.	Initial
    Option Period. With respect to each CCF INVENTION and JOINT INVENTION, the OPTION will remain in effect from COMPANY’s
    receipt of the corresponding INVENTION DISCLOSURE until the earlier of *** after the expiration of the TERM of the JDA or
    until the OPTION is exercised under Paragraph 6.1.2 (Exercise of OPTION) (“OPTION PERIOD”) unless terminated
    earlier under Paragraph 8.2 (Expiration/Termination of JDA and OPTION).

 

    	8

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	6.2.2.	Extending
    the Option Period. The OPTION PERIOD may be extended by any extension of this JDA or any other agreement between the PARTIES.
	 	 	 
	 	6.2.3.	DILIGENCE.
    At all times during the applicable OPTION PERIOD, COMPANY will exercise commercially reasonable diligence to determine
    if COMPANY desires to exercise the applicable OPTION (“DILIGENCE EFFORTS”). At the request of CCF but not
    more often than biannually, COMPANY agrees to report its DILIGENCE EFFORTS to CCF, and any such report will be deemed to be
    COMPANY’s CONFIDENTIAL INFORMATION. If CCF determines that COMPANY is failing to perform reasonable DILIGENCE EFFORTS
    and notifies COMPANY to such effect in writing, the TECHNICAL REPRESENTATIVES shall work together to identify and agree upon
    reasonable development milestones which will thereafter constitute reasonable DILIGENCE EFFORTS. Thereafter, if COMPANY fails
    to perform such reasonable DILIGENCE EFFORTS during the OPTION PERIOD, CCF may elect to terminate the applicable OPTION upon
    written notice to COMPANY as CCF’s sole and exclusive remedy for COMPANY’s failure to perform such DILIGENCE EFFORTS.

 

	 	6.3.	Other
    Subject Matter. All unpatentable or unpatented subject matter within CCF INVENTIONS and JOINT INVENTIONS (including, for
    the avoidance of doubt, unpatentable or unpatented data and know-how) are hereby automatically deemed to be Licensed Know-how
    under, and subject to the terms and conditions of, the License Agreement and the definition of Licensed Know-how thereunder
    is hereby automatically deemed to be amended to include all such subject matter, without any further action by either PARTY.
	 	 	 
	 	6.4.	Reservation
    of Rights for CCF. Upon exercise of the OPTION with respect to any CCF INVENTION or JOINT INVENTION, any and all licenses
    granted pursuant to the License Agreement under the corresponding Licensed Patent(s) (as defined in the License Agreement)
    are subject to the right of CCF, on behalf of itself and its investigators, to practice and use such Licensed Patents and
    the subject matter described and/or claimed therein, and to permit others at academic, government, and not-for-profit institutions
    to practice and use such Licensed Patents and the subject matter described and/or claimed therein, for its and their own research
    (including without limitation, pre-clinical, non-clinical and clinical research), testing, educational, internal or patient-care
    purposes. For avoidance of any doubt, any research previously performed, currently being performed, or performed in the future
    by CCF, at CCF’s facilities or using CCF’s resources, or that CCF or the CCF PROJECT TEAM is in any way related
    to (whether as Principal Investigator, sponsor or otherwise) is subject to the retained rights in this Paragraph 6.4 (the
    “PERMITTED RESEARCH”). PERMITTED RESEARCH includes, without limitation, any research activities of CCF
    or the CCF PROJECT TEAM (while employees of CCF) that are funded in whole or in part by any governmental authorities or any
    philanthropic or similar sources. For clarity, CCF agrees and acknowledges that this Paragraph 6.4 does not give CCF the right
    to practice or use the Licensed Technology (as defined in the License Agreement) in connection with the commercial sale of
    any product or service.
	 	 	 
	 	6.5.	Licensed
    Patent Challenges. Upon exercise of the OPTION with respect to any CCF INVENTION or JOINT INVENTION, COMPANY will be subject
    to the restrictions on Licensed Patent Challenges (as defined in the License Agreement) with respect to the corresponding
    Licensed Patent(s) (as defined in the License Agreement).
	 	 	 
	 	6.6.	No
    License Agreement. If this JDA expires without exercise by COMPANY of any OPTION pursuant to Paragraph 6.1.2 and CCF has
    complied with all of its obligations under Paragraphs 6.1 and 6.2, COMPANY will grant to CCF a non-exclusive, non-sublicenseable,
    non-transferable, royalty-free, worldwide license to practice COMPANY INVENTIONS solely for the purpose of CCF’s own
    research and, for clarity, not in connection with the commercial sale of any product or service. 

 

    	9

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	7.	Work
    with THIRD PARTIES

 

	 	7.1.	Work
    with THIRD PARTIES. Neither COMPANY nor CCF will, during the TERM, subcontract any portion of its responsibilities under
    this JDA or the WORK PLAN to any THIRD PARTY without the prior written consent of the other PARTY. Either PARTY is otherwise
    free to enter into other collaborative and/or service projects with THIRD PARTIES, provided that the confidentiality and invention
    rights provisions of Articles 4 and 5 hereof are not breached thereby and such arrangements do not otherwise conflict with
    the terms and conditions of this JDA. Each PARTY is responsible for the acts and omissions of its permitted subcontractors,
    including any breach of this JDA.

 

	8.	Term
    and Termination

 

	 	8.1.	Term.
    This JDA is effective from the EFFECTIVE DATE and terminates upon the later of (i) *** thereafter and (ii) completion
    by CCF of its activities under the WORK PLAN, unless terminated earlier under Paragraph 8.2 (Expiration/Termination of JDA
    and OPTION) (“TERM”).
	 	 	 
	 	8.2.	Expiration
    / Termination of JDA and OPTION. 

 

	 	8.2.1.	COMPANY
    may terminate this JDA at any time for any reason by giving written notice to CCF at least *** before such termination becomes
    effective. CCF may terminate this JDA if circumstances beyond its control preclude continuation of the PROJECT by giving written
    notice to COMPANY at least *** before such termination becomes effective. COMPANY may terminate any OPTION at any time for
    any reason by giving written notice to CCF. Upon termination of this JDA by COMPANY under this Paragraph 8.2.1, CCF will be
    reimbursed by COMPANY for all costs and non-cancelable commitments incurred by CCF in the performance of the PROJECT for which
    COMPANY has committed to fund.
	 	 	 
	 	8.2.2.	In
    the event that either PARTY (“Breach Party”) shall commit any material breach of or default in any of the
    terms or conditions of this JDA, the other PARTY may provide written notice (“Breach Notice”) of such breach
    or default to the Breach Party. If the Breach Party fails to remedy said default or breach within *** after receipt of the
    Breach Notice, the other PARTY may terminate this JDA by sending written notice of termination (“Termination Notice”)
    to the Breach Party to such effect, and such termination shall be effective as of the date of receipt of the Termination Notice.
    
	 	 	 
	 	8.2.3.	If
    Vince Tuohy becomes unavailable to oversee and support the performance of the WORK PLAN for any reason, CCF may propose another
    member of its faculty who is acceptable to COMPANY, in COMPANY’s sole discretion, to oversee the performance of the
    WORK PLAN. If a substitute faculty member acceptable to COMPANY has not been agreed upon within *** after Vince Tuohy is no
    longer available to oversee and support the performance of the WORK PLAN, either PARTY may terminate this JDA upon written
    notice thereof to the other PARTY.

 

	 	8.3.	Tax
    Exempt Status. The PARTIES recognize that CCF is a non-profit, tax-exempt organization and agree that this JDA will take
    into account and be consistent with CCF’s tax-exempt status. If any part or all of this JDA is determined to jeopardize
    the overall tax-exempt status of CCF and/or any of its tax-exempt AFFILIATES, the PARTIES will negotiate in good faith an
    amendment of this JDA pursuant to Paragraph 11.13 so as to address such tax consideration while effecting the original intent
    of the PARTIES as closely as possible in a mutually acceptable manner. If the PARTIES are unable to amend the JDA to address
    such tax consideration within *** after COMPANY’s receipt of written notice that the JDA jeopardizes the overall tax-exempt
    status of CCF, CCF shall have the right to terminate the JDA immediately upon written notice to COMPANY.

 

    	10

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	8.4.	Surviving
    Rights & Obligations. Except as expressly provided for herein, termination or expiration of this JDA will not relieve
    either PARTY of any obligations accruing prior to such termination or expiration, and the following provisions will survive
    any expiration or termination of this JDA and remain in effect: Articles 4 (Confidentiality), 5 (INVENTION Rights) (excluding
    Paragraph 5.8), 9 (Dispute Resolution) and 11 (Miscellaneous) and Paragraphs 8.4 (Surviving Rights & Obligations), 10.5
    (Liability), 10.6 (Indemnity), 10.7 (DISCLAIMER OF WARRANTIES BY CCF), and 10.8 (DISCLAIMER OF WARRANTIES BY COMPANY). In
    addition, the OPTION with respect to each CCF INVENTION and JOINT INVENTION will survive any expiration or termination of
    this JDA for the duration of the applicable OPTION PERIOD, unless so terminated as provided for under Paragraphs 6.2.3 and
    8.2.1. 

 

	9.	Dispute
    Resolution 

 

	 	9.1.	Exclusive
    Dispute Resolution Mechanism. The PARTIES shall resolve any dispute, controversy or claim arising out of or relating to
    this JDA, or the breach, termination or invalidity hereof (each, a “DISPUTE”), under the provisions of
    this Article 9. The procedures set forth in this Article 9 shall be the exclusive mechanism for resolving any DISPUTE that
    may arise from time to time, subject to Paragraph 9.5.
	 	 	 
	 	9.2.	Good
    Faith Negotiations. If a PARTY believes that a DISPUTE exists, then such PARTY (the “DECLARING PARTY”)
    shall provide notice of such DISPUTE to the other PARTY (the “NOTICE”), which NOTICE shall specify the
    nature and cause of the DISPUTE and the action that the DECLARING PARTY deems necessary to resolve such DISPUTE. Following
    receipt of the NOTICE, the PARTIES shall use good faith efforts to resolve the DISPUTE, including making personnel with appropriate
    decision-making authority available to the other PARTY to discuss resolution of the DISPUTE. If a DISPUTE is not resolved
    within *** of the date of the non-DECLARING PARTY’s receipt of the NOTICE, then the DISPUTE shall be submitted to mandatory,
    final and binding arbitration before the American Arbitration Association, in accordance with the then-current rules of the
    American Arbitration Association, as modified herein.
	 	 	 
	 	9.3.	Arbitration.
    The PARTIES shall use a panel of three arbitrators. The DECLARING PARTY shall select one arbitrator, and the other PARTY
    shall select a second arbitrator, and the two arbitrators so selected shall select a third arbitrator. The three arbitrators
    shall hear the DISPUTE. Such arbitrators shall be knowledgeable in intellectual property law and related matters. The arbitrators
    shall make each determination in a manner that is consistent with this JDA, including the PARTIES’ intent as expressed
    herein. Without limiting the foregoing, the PARTIES agree that the arbitrators are empowered to make determinations regarding
    the reasonableness of a PARTY’s acts or omissions. All decisions of the arbitrators shall be binding upon the PARTIES.
    Each PARTY shall be solely responsible for its own attorneys’ fees and expenses, legal expenses and witness fees and
    expenses. Any other usual and customary expenses incurred by the arbitrators or the expense of such arbitration proceeding
    shall be equally divided between the PARTIES, irrespective of the outcome of such proceeding. The arbitration will be conducted
    in Cleveland, Ohio. The arbitrators are to apply the laws of the State of Ohio, without regard to its conflict of laws’
    provisions. The PARTIES agree that any award, order, or judgment pursuant to the arbitration is final and may be entered and
    enforced in any court of competent jurisdiction. The PARTIES agree that all aspects of the dispute resolution process, including
    the arbitration, shall be conducted in confidence. The PARTIES agree that all statements made in connection with informal
    dispute resolution efforts shall not be considered admissions or statements against interest by any PARTY. The PARTIES further
    agree that they will not attempt to introduce such statements at any later trial, arbitration or mediation between the PARTIES.
	 	 	 
	 	9.4.	Waiver
    of Jury Trial. Each PARTY irrevocably and unconditionally waives any right it may have to a trial by jury for any legal
    action arising out of or relating to this JDA or the transactions contemplated hereby.
	 	 	 
	 	9.5.	Equitable
    Relief. Notwithstanding anything to the contrary herein, each PARTY acknowledges that a breach by the other PARTY of this
    JDA may cause the non-breaching PARTY irreparable harm, for which an award of damages would not be adequate compensation and,
    in the event of such a breach or threatened breach, the non-breaching PARTY shall be entitled to seek equitable relief, including
    in the form of a restraining order, orders for preliminary or permanent injunction, specific performance and any other relief
    that may be available from any court, and the PARTIES hereby waive any requirement for the securing or posting of any bond
    or the showing of actual monetary damages in connection with such relief. These remedies shall not be deemed to be exclusive
    but shall be in addition to all other remedies available under this JDA at law or in equity, subject to any express exclusions
    or limitations in this JDA to the contrary.

 

    	11

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	10.	Representations,
    Warranties, Indemnity, Insurance & Compliance

 

	 	10.1.	Authority.
    Each of the PARTIES represents as of the EFFECTIVE DATE and warrants for the TERM that it has authority to enter into
    this JDA and to perform its obligations under this JDA and that it has been duly authorized to sign and to deliver this JDA.
	 	 	 
	 	10.2.	Compliance
    with LAWS. The PARTIES will comply with all applicable laws, rules and regulations, including, but not limited to: (i)
    the federal anti-kickback statute (42 U.S.C. §1320a-7b) and the related safe harbor regulations and (ii) the Limitation
    on Certain Physician Referrals, also referred to as the “Stark Law” (42 U.S.C. §1395nn); (iii) The Federal
    Food, Drug, and Cosmetic Act (21 U.S.C. §§ 301 et seq.); (iv) the Public Health Service Act (42 U.S.C. § 201
    et seq.); (v) the Health Insurance Portability and Accountability Act of 1996 and the Health Information Technology for Economic
    and Clinical Health Act (collectively, “HIPAA”); (vi) any and all applicable U.S. export control laws and
    regulations, as well any and all embargoes and/or other restrictions imposed by the Treasury Department’s Office of
    Foreign Asset Controls; and (vii) all comparable state and local laws and regulations relating to the conduct of the PROJECT.
    No part of any consideration paid hereunder is a prohibited payment for the recommending or arranging for the referral of
    business or the ordering of items or services, nor are the payments intended to induce illegal referrals of business. In the
    event that any part of this JDA is determined to violate federal, state, or local laws, rules, or regulations, the PARTIES
    agree to negotiate in good faith revisions to the provision or provisions that are in violation. In the event the PARTIES
    are unable to agree to new or modified terms as required to bring the entire JDA into compliance, either PARTY may terminate
    this JDA on *** written notice to the other PARTY.
	 	 	 
	 	10.3.	Conflict
    of Interest. COMPANY acknowledges that CCF maintains and adheres to a Conflict of Interest Policy. In that connection,
    COMPANY represents that, to COMPANY’s knowledge, no CCF employees, officers, or directors are owners, consultants, employees,
    officers or directors of COMPANY or any of its AFFILIATES or serve on any boards or committees of or in any advisory capacity
    with COMPANY or any of its AFFILIATES.
	 	 	 
	 	10.4.	Insurance.
    COMPANY represents and warrants that it has and shall maintain comprehensive general liability insurance coverage on either
    a self-insured or indemnity basis to protect against liability under this provision in amounts equal to *** and, upon request,
    COMPANY agrees to furnish to CCF evidence of insurance acceptable to CCF indicating the required coverage. COMPANY agrees
    to give CCF at least *** prior written notice in the event of any material, adverse change in such insurance. 
	 	 	 
	 	10.5.	Liability.
    Except for damages arising from a breach pf Article 4, fraud, willful misconduct or gross negligence, or as may be payable
    pursuant to a PARTY’s indemnification obligations under Paragraph 10.6, neither PARTY shall be liable to the other PARTY
    for any special, indirect, consequential or punitive damages of any kind, including, but not limited to, loss of profits,
    arising in any manner from this JDA regardless of the forseeability thereof. 
	 	 	 
	 	10.6.	Indemnity.

 

	 	10.6.1.	COMPANY
    Indemnification. Subject to Paragraph 10.6.3, COMPANY will indemnify, defend and hold harmless CCF and its respective
    trustees, directors, officers, medical and professional staff, employees, students, and agents and their respective successors,
    heirs, and assigns (each a “CCF Indemnitee”), against all LOSSES arising from any THIRD PARTY claim, suit,
    action or other proceeding (each, an “COVERED CLAIM”) which may be made or instituted against any CCF Indemnitee
    related to, arising out of or resulting from (a) COMPANY’s material breach of any representation, warranty, covenant
    or obligation under this JDA, (b) use by COMPANY or any of its transferees of any CCF INVENTION or JOINT INVENTION, (c) any
    use, sale, transfer or other disposition by COMPANY or its transferees of a PRODUCT or any other products made by use of CCF
    INVENTION or JOINT INVENTION, except to the extent any such COVERED CLAIM arises from any matter for which CCF is obligated
    to provide indemnification pursuant to Paragraph 10.6.2.
	 	 	 
	 	10.6.2.	CCF
    Indemnification. Subject to Paragraph 10.6.3, to the extent allowed under applicable laws, CCF will indemnify, defend
    and hold harmless COMPANY and its respective directors, officers, employees, consultants, and agents and their respective
    successors, heirs, and assigns (each a “COMPANY Indemnitee”), against all LOSSES arising from any COVERED
    CLAIM which may be made or instituted against any COMPANY Indemnitee related to, arising out of or resulting from (a) CCF’s
    material breach of any representation, warranty, covenant or obligation under this JDA, or (b) a CCF Indemnitee’s negligence,
    willful misconduct, or breach of any applicable law, except to the extent any such COVERED CLAIM arises from any matter for
    which COMPANY is obligated to provide indemnification pursuant to Paragraph 10.6.1. 

 

    	12

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	10.6.3.	Indemnification
    Procedure. An Indemnitee (whether a CCF Indemnitee or a COMPANY Indemnitee) that intends to claim indemnification under
    this Paragraph 10.6 will give notice to the indemnifying PARTY of any COVERED CLAIM which might be covered by this Paragraph
    10.6. The indemnifying PARTY shall immediately take control of the defense and investigation of the COVERED CLAIM, including
    selection of counsel reasonably acceptable to the Indemnitee, at the indemnifying PARTY’s sole cost and expense; provided,
    however, that the indemnifying PARTY will not, without the prior written consent of the Indemnitee, settle or consent to the
    entry of any judgment with respect to such COVERED CLAIM (a) that does not release the Indemnitee from all liability with
    respect to such COVERED CLAIM, or (b) that may adversely affect the Indemnitee or under which the Indemnitee would incur any
    obligation or liability, other than one as to which the indemnifying PARTY has an indemnity obligation hereunder. The Indemnitee
    agrees to cooperate and provide reasonable assistance to such defense at the indemnifying PARTY’s expense. The Indemnitee
    at all times reserves the right to select and retain counsel of its own at its own expense to defend its interests, provided
    that the indemnifying PARTY will remain in control of the defense. The Indemnitee’s failure to perform any obligations
    under this Paragraph 10.6.3 shall not relieve the indemnifying PARTY of its obligation under Paragraph 10.6 except to the
    extent that the indemnifying PARTY can demonstrate that it has been materially prejudiced as a result of the failure.

 

	 	10.7.	DISCLAIMER
    OF WARRANTIES BY CCF. EXCEPT AS PROVIDED HEREIN AND TO THE EXTENT PERMITTED BY APPLICABLE LAW, CCF MAKES NO WARRANTIES,
    EXPRESSED OR IMPLIED, AS TO ANY MATTER WHATSOEVER, INCLUDING, WITHOUT LIMITATION, THE CONDITION OF THE PROJECT (INCLUDING
    ANY RESULTS THEREFROM) OR ANY IP (INCLUDING, BUT NOT LIMITED TO, CCF INVENTIONS, JOINT INVENTIONS OR BACKGROUND IP) OR ANY
    PRODUCT(S), WHETHER TANGIBLE OR INTANGIBLE, CONCEIVED, DISCOVERED, OR DEVELOPED UNDER THIS JDA; OR THE OWNERSHIP, MERCHANTABILITY,
    OR FITNESS FOR A PARTICULAR PURPOSE OF THE PROJECT OR ANY IP OR PRODUCT; OR FREEDOM FROM PATENT, TRADEMARK, OR COPYRIGHT INFRINGEMENT,
    INFORMATIONAL CONTENT, INTEGRATION, OR THEFT OF TRADE SECRETS AND DOES NOT ASSUME ANY LIABILITY HEREUNDER FOR ANY INFRINGEMENT
    OF ANY PATENT, TRADEMARK, OR COPYRIGHT ARISING FROM THE USE OF INFORMATION, RESULTS OR DELIVERABLES OR RIGHTS GRANTED OR PROVIDED
    BY IT HEREUNDER. IN ADDITION, NOTHING IN THIS JDA MAY BE DEEMED A REPRESENTATION OR WARRANTY BY CCF AS TO THE VALIDITY OF
    ANY OF CCF’S PATENT RIGHTS OR THEIR REGISTRABILITY OR OF THE ACCURACY, SAFETY, EFFICACY, OR USEFULNESS, FOR ANY PURPOSE,
    OF ANY IP.
	 	 	 
	 	10.8.	DISCLAIMER
    OF WARRANTIES BY COMPANY. EXCEPT AS PROVIDED HEREIN AND TO THE EXTENT PERMITTED BY THE APPLICABLE LAW, COMPANY MAKES NO
    WARRANTIES OF ANY KIND, EXPRESSED OR IMPLIED, AS TO ANY MATTER WHATSOEVER, INCLUDING WITH RESPECT TO ANY OF COMPANY’S
    TECHNOLOGIES THAT WILL BE SUBJECT TO THIS JDA. IN PARTICULAR, COMPANY MAKES NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY
    OR FITNESS FOR A PARTICULAR PURPOSE, OR THAT THE USE OF THE TECHNOLOGIES WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK
    OR OTHER RIGHTS OF ANY THIRD PARTY. IN ADDITION, NOTHING IN THIS JDA MAY BE DEEMED A REPRESENTATION OR WARRANTY BY COMPANY
    AS TO THE VALIDITY OF ANY OF COMPANY’S PATENTS OR THEIR REGISTRABILITY OR OF THE ACCURACY, SAFETY, EFFICACY, OR USEFULNESS,
    FOR ANY PURPOSE, OF THE TECHNOLOGIES.

 

    	13

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	11.	Miscellaneous

 

	 	11.1.	Agreement
    Negotiated. The form of this JDA has been negotiated by or on behalf of the respective PARTIES, each of which was represented
    by attorneys who have carefully negotiated the provisions hereof. Each PARTY acknowledges that it has been advised to, and
    has had the opportunity to consult with its attorney(s) prior to entering into this JDA. No law or rule relating to the construction
    or interpretation of contracts against the drafter of any particular clause should be applied with respect to this JDA.
	 	 	 
	 	11.2.	Applicable
    Law. All matters arising under or relating to this JDA are governed by the laws of the State of Ohio, without regard to
    any principle of conflict or choice of laws that would cause the application of the laws of any other jurisdiction. Despite
    the above, the substantive law of the country of any PATENT RIGHTS governs the validity and enforceability of the subject
    PATENT RIGHTS.
	 	 	 
	 	11.3.	Counterparts.
    This JDA may be executed in one or more counterparts, each of which will be deemed to be an original, but all of which
    will constitute one and the same instrument. A facsimile or .PDF copy of a signature of a PARTY will have the same effect
    and validity as an original signature.
	 	 	 
	 	11.4.	Entire
    Agreement / Amendments. This JDA, including any attached Schedules, and the License Agreement, including any attached
    appendices or exhibits, constitute the entire understanding between the PARTIES with respect to the subject matter contained
    herein and supersedes all prior agreements, understandings and arrangements whether oral or written between the PARTIES relating
    to the subject matter hereof, except as expressly set forth herein. Nothing in this JDA may be changed or modified, nor may
    anything be added to this JDA, except as may be specifically agreed to in a subsequent writing executed with the same formalities
    as this JDA.
	 	 	 
	 	11.5.	Force
    Majeure. No PARTY will be responsible for delays or failures to perform resulting from events beyond its control but will
    have a responsibility to mitigate any damage which might arise as a result of any such event. Such events will include, but
    not be limited to: acts of nature, epidemics; fire; government restrictions or other government acts; insurrection; power
    failures; strike, union disturbance, or other labor problems; riots; terrorism or threats of terrorism; or war (whether or
    not declared); earthquakes, floods, or other disasters. Upon the occurrence of any event of the type referred to in this Paragraph
    11.5, the affected PARTY will give prompt written notice to the other PARTY, together with a description of the event and
    the duration for which the affected PARTY expects its ability to comply with the provisions of this JDA to be affected. The
    affected PARTY will devote its commercially reasonable efforts to remedy to the extent possible the condition giving rise
    to the failure event and to resume performance of its obligations under this JDA as promptly as possible.
	 	 	 
	 	11.6.	Headings.
    The headings or titles of Articles, Sections, Paragraphs, or Schedules appearing in this JDA are provided for convenience
    and are not to be used in construing this JDA. All references to Articles, Paragraphs, Sections and/or Schedules will be to
    Articles, Paragraphs, Sections, and/or Schedules of this JDA, unless specifically noted otherwise. Reference to an “Article,”
    “Section,” or “Paragraph” includes the referenced Article, Section or Paragraph, and all sub-sections
    and sub-paragraphs included within the referenced Article, Section or Paragraph.

 

    	14

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	11.7.	Joint
    Research Agreement Statement for US Patent Prosecution. A PARTY desiring to invoke 35 USC §103(c)(2) and post American
    Invents Act 35 USC §102(c) during the PROSECUTION of PATENT RIGHTS, will be permitted to disclose the existence of this
    JDA and the names of the PARTIES thereto, and to make the statement required by 37 CFR §1.104(c)(4)(iii) on the record
    during PROSECUTION. Despite the foregoing, neither PARTY will be obligated to execute documents necessary for invoking 35
    USC §103(c)(2) and post American Invents Act 35 USC §102(c). 
	 	 	 
	 	11.8.	No
    Other Rights Granted. Except as may be expressly set forth in this JDA, no PARTY grants, by implication, estoppel, or
    otherwise, any assignment, license or other rights in any of its or its AFFILIATES’ IP or CONFIDENTIAL INFORMATION to
    the other PARTY or its AFFILIATES. 
	 	 	 
	 	11.9.	No
    Third Party Beneficiaries. Despite anything in this JDA to the contrary, nothing in this JDA, expressed or implied, is
    intended to confer on any person or entity other than the PARTIES or their respective permitted successors and assigns, any
    rights, remedies, obligations or liabilities under or by reason of this JDA.
	 	 	 
	 	11.10.	No
    Waiver. No omission or delay by either PARTY at any time to enforce any right or remedy reserved to it, or to require
    performance of any of the terms, covenants, or provisions of this JDA by another PARTY at any time designated, will be a waiver
    of any such right or remedy to which such PARTY is entitled, nor will it in any way affect the right of such PARTY to enforce
    such provisions thereafter.
	 	 	 
	 	11.11.	Non-assignability.
    This JDA will be binding upon and inure to the benefit of the respective PARTIES and successors or assigns of all or substantially
    all of the relevant business or assets of either PARTY to which this JDA relates (whether by merger, consolidation, stock
    purchase, asset purchase or otherwise), and will otherwise be nontransferable and non-assignable to THIRD PARTIES without
    the prior express written consent of the other PARTY; provided, however, CCF may assign its reserved rights under Paragraph
    6.4 to any academic, government, or not-for-profit institution without COMPANY’s consent. 
	 	 	 
	 	11.12.	Notices.
    All notices under this JDA will be sent to the respective PARTIES at the following addresses (or such other addresses
    as a PARTY designates to the other PARTY by written notice) by certified or registered mail, or sent by a nationally recognized
    overnight courier service; and will be deemed to have been given one day after being sent:

 

	 	If
    to CCF: 	The
    Cleveland Clinic Foundation
	 	 	9500
    Euclid Avenue
	 	 	Cleveland,
    OH 44195
	 	 	Attn:
    CCF Innovations (Mail code: GCIC10)
	 	 	email:
    giordat@ccf.org 
	 	 	With
    copy to: ccilicense@ccf.org 

 

	 	with
    a copy to: 	Law
    Department - (Mail Code: AC321)
	 	 	Attn:
    Research Contracts (Innovations)
	 	 	The
    Cleveland Clinic Foundation
	 	 	3050
    Science Park Drive
	 	 	Beachwood,
    OH 44122
	 	 	Attn:
    Chief Legal Counsel, CC Innovations
	 	 	Email:
    legalcontracts@ccf.org
	 	 	With
    copy to: cicarej@ccf.org

 

	 	 Payments
    to:	***

 

    	15

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

	 	If
    to COMPANY:	Anixa
    Biosciences, Inc.
	 	 	3150
    Almaden Expressway, Suite 250
	 	 	San
    Jose, CA 95118
	 	 	Attention:
    Amit Kumar, CEO
	 	 	Email:
    ak@anixa.com

 

	 	11.13.	Partial
    Invalidity. If any covenant, condition or other provision of this JDA is held invalid, void or illegal by any court of
    competent jurisdiction, then the same will be deemed severable from the remainder of the subject agreement and will in no
    way affect, impair or invalidate any other covenant, condition or provision, and will be deemed replaced by a provision which
    comes closest to such unenforceable provision in language and intent, without being invalid, void or illegal.
	 	 	 
	 	11.14.	Use
    of Name and Press Releases. Neither PARTY shall use the name, logo, likeness, trademarks, or image of the other PARTY
    for advertising, marketing, endorsement or any other purposes without the specific prior written consent of an authorized
    representative of the other PARTY as to each such use. Neither PARTY shall make any public announcements, make any public
    statements, issue any press releases or otherwise communicate with any news media in respect of this JDA or the transactions
    contemplated hereby without the specific prior written consent of an authorized representative of the other PARTY. COMPANY
    shall not be required to attain consent under this Paragraph 11.14 for use that, based on the written legal opinion of COMPANY’s
    legal counsel, is required pursuant to applicable law or regulation, including COMPANY’s obligations under disclosure
    rules of the Securities and Exchange Commission (SEC). CCF’s specific prior written consent to one use shall apply only
    to other uses of substantially similar form and content (e.g. various iterations of investor presentations) but not to any
    other uses. Notwithstanding anything to the contrary contained herein, CCF shall have the right to withdraw any consent previously
    provided (e.g., if CCF has previously consented to COMPANY’s use of CCF’s name and logo on COMPANY’s website
    or in investor presentations). For clarity, this Paragraph 11.14 shall not restrict COMPANY (or its AFFILIATES or sublicensees)
    from publicly disclosing information regarding the status of the development, or manufacture or commercialization of any PRODUCT,
    provided that any such disclosure does not use the name, logo, likeness, trademark or image of CCF. 
	 	 	 
	 	11.15.	Export
    Control. It is understood that CCF is subject to United States laws and regulations controlling the export of technical
    data, computer software, laboratory prototypes, and other commodities and that its obligations hereunder are contingent on
    compliance with applicable United States export laws and regulations. It is the expectation of CCF that the work done pursuant
    to this JDA will constitute fundamental research under the applicable export control laws and regulations. CCF does not wish
    to take receipt of export-controlled information except as may be knowingly and expressly agreed to in writing signed by an
    authorized representative of CCF and for which CCF has made specific arrangements. COMPANY acknowledges that CCF has foreign
    nationals on CCF’s campus who may have access to technical data, computer software, laboratory prototypes, and other
    commodities associated with this JDA. COMPANY agrees that it will not provide or make accessible to CCF any non-EAR 99 materials
    (including, without limitation, equipment, information and/or data) without first informing CCF of the export-controlled nature
    of the materials and obtaining from CCF’s RESEARCH OFFICE its prior written consent to accept such materials as well
    as any specific instructions regarding the mechanism pursuant to which such materials should be passed to CCF. COMPANY agrees
    to comply with any and all applicable U.S. export control laws and regulations, as well any and all embargoes and/or other
    restrictions imposed by the Treasury Department’s Office of Foreign Asset Controls.
	 	 	 
	 	11.16.	Relationship
    Between the PARTIES. Both PARTIES are independent contractors under this JDA. This JDA does not constitute making either
    PARTY the agent or legal representative of the other PARTY, for any purpose whatsoever. Neither PARTY is granted any right
    or authority to assume or to create any obligation or responsibility, expressed or implied, on behalf of or in the name of
    the other PARTY or to bind the other PARTY in any manner or thing whatsoever. No employment relationship, agency, joint venture
    or partnership between the PARTIES is intended nor will be inferred. Neither PARTY’s employees will represent themselves
    as being representatives of or otherwise employed by the other PARTY.
	 	 	 
	 	11.17.	Mutual
    Drafting. Each PARTY hereby represents that it has been, or has had the opportunity to be, represented by legal counsel
    of its choice in connection with the negotiation and execution of this JDA. This JDA shall be construed as if drafted jointly
    by the PARTIES hereto and no presumption or burden of proof shall arise favoring or disfavoring any PARTY by virtue of the
    authorship of any provision of this JDA.

 

 

    	16

     

    

 

Redactions
with respect to certain portions hereof denoted with “***”

 

IN
WITNESS WHEREOF, the PARTIES, by their authorized representatives, have evidenced their consent to the terms provided herein by
signing below.

 

	The
    Cleveland Clinic Foundation	 	Anixa
    Biosciences, Inc.
	 	 	 
	/s/
    Steven C. Glass	 	/s/
    Amit Kumar
	Signature	 	Signature
	 	 	 
	Steven
    C. Glass	 	Amit
    Kumar
	Printed
    Name	 	Printed
    Name: Amit Kumar
	 	 	 
	Chief
    Financial Officer	 	CEO
	Title	 	Title:
    CEO
	 	 	 
	1/26/2021	 	1/21/21
	Date	 	Date

 

    	17

     

    

 

Schedule
A – WORK PLAN

 

[see
attached]

 

    	 

     

    

 

 

Statement
of Work for Licensing Agreement with Anixa

 

	1.	Apply
    to NCI for Performing the Ovarian Cancer Vaccine Preclinical Development

 

	 	The
    National Cancer Institute Division of Cancer Prevention has established a Cancer Preclinical Drug Development Program called
    PREVENT. The PREVENT program is a peer-reviewed agent development program designed to support preclinical development
    of innovative interventions and biomarkers for cancer prevention and interception towards clinical trials. All interested
    researchers with novel concepts are eligible to apply. PREVENT is not a grant program, but allocates NCI contract resources
    and expertise to generate data and materials, which are used by the applicants for further development. PREVENT’s
    current research priority areas include immunoprevention, chemoprevention, and clinically translatable biomarkers.
	 	 
	 	https://prevention.cancer.gov/major-programs/prevent-cancer-preclinical-drug-development-program
	 	 
	 	Submission
    deadlines to PREVENT occur twice per year on the second Monday in January and July. The next deadlines are January
    11, 2021 or July 12, 2021. Here are the Instructions for Applying. Here is the latest application template.

 

	 	Available
    Resources Provided by PREVENT

 

	 	●	In
    vitro and in vivo efficacy studies and preclinical pharmacology
	 	●	Various
    carcinogen-induced and genetically engineered animal models of cancer
	 	●	Identification
    and evaluation of intermediate biomarkers
	 	●	PK
    and PK/PD modeling to evaluate efficacy and optimize dosing regimen
	 	●	Characterization
    of immune responses to vaccines and immunomodulatory agents
	 	●	Formulation
    optimization for enhanced bioavailability and clinical usefulness
	 	●	Analytical
    method development for investigational agents in bulk form and in biological fluids and tissues
	 	●	Scale-up
    cGMP and non-cGMP production of an investigational agent
	 	●	Stability
    testing for bulk and formulated material
	 	●	Preclinical
    investigational new drug (IND)-directed GLP toxicology studies
	 	●	Regulatory
    support
	 	●	Other
    resources to support drug development

 

	2.	Data
    Needed for PREVENT Application

 

	 	The
    ID8 ovarian cancer mouse model is the preferred model at NCI for determining ovarian cancer prevention. We know that AMHR2-ED
    is expressed in ID8 tumors, but we need to generate the following data for our application:

 

	 	a.	Generate
    Publishable Quality Data Showing Expression of AMHR2-ED in ID8 Tumors
	 	b.	Determine
    Efficacy of Prophylactic AMHR2-ED Vaccination Using s.c. Inoculation of ID8
	 	c.	Determine
    Efficacy of Therapeutic AMHR2-ED Vaccination Using s.c. Inoculation of ID8
	 	d.	Determine
    Efficacy of Prophylactic AMHR2-ED Vaccination Using i.p. Inoculation of ID8
	 	e.	Determine
    Efficacy of Therapeutic AMHR2-ED Vaccination Using i.p. Inoculation of ID8
	 	f.	Determine
    Long-Term Expression of Serum Antibody Titers to AMHR2-ED

 

	3.	AMHR2-ED
    Vaccination Data to Be Generated Over the Next Two Years

 

	 	a.	Determine
    Compatibility of AMHR2-ED Vaccination and Anti PD-1/Anti-PD-L1 Treatment
	 	b.	Determine
    Compatibility of AMHR2-ED Vaccination and Lucitinab Treatment
	 	c.	Determine
    Compatibility of AMHR2-ED Vaccination and Anti-TIGIT Treatment
	 	d.	Determine
    Compatibility of AMHR2-ED Vaccination and Treatment with PARP Inhibitors
	 	e.	Determine
    Compatibility of AMHR2-ED Vaccination and Treatment with Cisplatin
	 	f.	Determine
    Expression of AMHR2-ED in Endometrial CancerDocument

Exhibit 10.1

EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT by and between Old National Bancorp, an Indiana corporation (“Company”) and              (“Executive”), is made and entered into effective as of              (“Agreement”).
Background
A.The Company wishes to continue the Executive’s employment as             of the Company on the terms and conditions provided herein, and the Executive wishes to serve in such capacity on the terms and conditions provided herein.
B.By the severance and change in control provisions contained herein, the Company wishes to encourage the Executive to devote his/her full time and attention to the faithful performance of his/her management responsibilities and to assist the Board of Directors in evaluating business options and pursuing the best interests of the Company and its shareholders without being influenced by the uncertainties of his/her own employment situation.
C.The Company employs the Executive in a position of trust and confidence, and the Executive has become acquainted with the Company's Business, its officers and employees, its strategic and operating plans, its business practices, processes, and relationships, the needs and expectations of its Customers and Prospective Customers, and its trade secrets and other property, including Confidential Information.
Agreement
NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Executive and the Company agree as follows:
1.    Defined Terms. Throughout this Agreement, when the first letter of a word (or the first letter of each word in a phrase) is capitalized, the word or phrase shall have the meaning specified in Appendix A unless otherwise indicated.
2.    Term. The initial term of this Agreement shall begin on             and shall continue through            , subject to earlier termination as provided in this Agreement (the “Initial Term”). At the conclusion of the Initial Term if this Agreement has not terminated earlier, this Agreement shall automatically renew for successive one (1) year terms (each a “Renewal Term”), unless either the Company or the Executive shall have provided a non-renewal notice to the other at least sixty (60) days before the end of the Initial Term or a Renewal Term, as applicable, and subject to earlier termination as provided in this Agreement. Notwithstanding the preceding provisions of this Section, if a Change in Control occurs during the Term, such Term shall not end before the second anniversary of the Change in Control; provided, however, this sentence shall apply only to the first Change in Control while this 

Agreement is in effect. If the Executive’s employment terminates during the Term, the obligations contained in the Restrictive Covenants shall survive the Term.
3.    Position and Duties. At all times during the Term, the Executive shall  (i) serve as              and, in such capacities, shall perform such duties and have such responsibilities as is typical for such positions, as well as any other duties as the Board may assign to him/her from time to time, (ii) diligently and conscientiously devote his/her full and exclusive business time, energy, and ability to his/her duties and the business of the Employing Company, (iii) serve as a member of any Employer board, as required by the Board, and (iv) comply with all directions by the Board (other than directions that would require an illegal or unethical act or omission) and all applicable policies and regulations of the Employing Company. Notwithstanding the preceding provisions, the Executive may serve as a non-employee director, a volunteer, or in other such capacities for other entities not in competition with the Company’s Business.
4.    Compensation, Benefits, and Expenses. During the Term and before the Termination of Employment, the Company shall compensate (or cause the Bank to compensate) the Executive for his/her services as follows:
(a)  Base Salary. The Executive shall receive a base salary (effective on the first payroll date in             ) at the annual rate of                          (the “Base Salary”), as increased from time to time by the Board. The Base Salary payable to the Executive during the Initial Term shall be prorated in accordance with the total number of calendar days in such calendar year Executive served as             . During the Term, the Board may increase (but not decrease) the Executive's base salary. Base Salary payments shall be made in substantially equal installments pursuant to the Employing Company’s established payroll procedures.
(b)  Incentive Compensation. The Executive shall be entitled to incentive compensation, including equity-based compensation, as determined by the Board from time to time, payable in accordance with the provisions of applicable incentive plans or programs.
(c)  Employee Benefits. The Executive shall be eligible to participate in such benefit plans as are made available to, and on such terms and conditions applicable to, other similarly situated executives and subject to the terms of such benefit plans. The Employing Company may change or terminate any such benefit plan at any time, in its sole discretion, subject to applicable legal requirements.
(d)  Paid Time Off Benefits. The Executive shall be entitled to annual paid time off in accordance with the Employing Company’s policies as in effect from time to time for similarly situated executive employees.
(e)  Reimbursement of Expenses. The Employing Company shall reimburse the Executive for reasonable business expenses incurred by the Executive in connection with the performance of his/her duties. Such reimbursements shall be made in accordance with the Employing Company’s established reimbursement policies, as in effect from 
Page 2

time to time; provided, however, reimbursements for expenses incurred during a calendar year shall be made not later than March 15 of the following year.
5.    Application of Agreement. Under no circumstances shall the Executive be entitled to payments pursuant to both Section 7 and Section 8 of this Agreement.
6.    Termination of Employment; Resignation of Officer and Director Positions. Subject to its payment obligations under this Section and Section 7 or 8, if applicable, the Company may terminate the Executive's employment at any time, with or without Cause. The Executive may voluntarily terminate his/her employment at any time by providing at least thirty (30) days prior notice to the Company. Regardless of whether his/her Termination of Employment is voluntary or involuntary, the Executive shall resign from all director positions with the Employer, effective as of his/her Termination Date.  Upon Termination of Employment, the Executive shall be entitled to the following, in addition to any benefits payable under Section 7 or 8:
(a)  Any earned but unpaid Base Salary, at the Executive’s then effective annual rate, through his/her Termination Date, plus any paid time off due to the Executive under the Employing Company’s paid time off program through his/her Termination Date, which amounts shall be paid to the Executive not later than the payroll date for the payroll period next following his/her Termination Date.
(b)  Provided that the Executive applies for reimbursement in accordance with the Employing Company’s established reimbursement procedures (within the period required by such procedures but under no circumstances later than thirty (30) days after his/her Termination Date), the Employing Company shall pay the Executive any reimbursements to which he/she is entitled under such procedures not later than the payroll date for the payroll period next following the date on which the Executive applies for reimbursement.
(c)  Any benefits (other than severance) payable to the Executive under any of the Employing Company’s incentive compensation or employee benefit plans or programs shall be payable in accordance with the provisions of those plans or programs.
7.    Non-Change in Control Severance Benefit.
(a)  Subject to the following provisions of this Section and Executive executing a Release (as set forth in Section 19) and the statutory period during which the Executive is entitled to revoke the Release has expired on or before that sixtieth (60th) day following the Termination Date, the Employing Company shall provide the Executive with the payments and benefits set forth in this Section, if during the Term and before the occurrence of a Change in Control, either (i) the Employing Company terminates the Executive's employment (other than a termination for Unacceptable Performance, Disability, or death pursuant to Section 10), or (ii) the Executive voluntarily terminates his/her employment for Good Reason pursuant to Section 11. Notwithstanding the preceding provisions of this Subsection, the Executive shall not be entitled to benefits pursuant to this Section if he/she is entitled to benefits pursuant to Section 8. Any amount 
Page 3

payable to the Executive pursuant to this Section is in addition to amounts already owed to the Executive by the Employing Company and is in consideration of the covenants set forth in this Agreement and/or the Release.
(b)  The Employing Company shall pay to the Executive a single lump sum payment equal to the Executive’s Compensation multiplied by          within sixty (60) days following the Executive’s Termination Date provided that the Executive has executed and submitted a Release of claims (as described in Section 19) and the statutory period during which the Executive is entitled to revoke the Release has expired on or before that sixtieth (60th) day; and provided further, that if the sixty (60) day period spans two (2) calendar years the Employing Company shall pay the Executive in the calendar year immediately following the calendar year of the Executive’s Termination Date.
(c)  If COBRA continuation coverage is properly elected under the Employing Company's group medical plan by the Executive (and his/her spouse and dependents, if any, covered by the Employing Company's group medical plan on his/her Termination Date), the Employing Company shall pay the cost of such coverage for the Executive (and such spouse and dependents), for twenty-four (24) months following the Termination Date (or such shorter period during which such person is eligible for COBRA continuation coverage) and, to the extent Section 20(d) is applicable, such payments or provision of benefits shall be in compliance with Section 20(d) herein. For purposes of the preceding sentence, the term “COBRA continuation coverage” shall include coverage substantially similar to the COBRA continuation coverage provided after eighteen (18) months following the Executive's Termination Date, provided that the Executive (and his/her spouse and/or dependents, if applicable) would be eligible for COBRA continuation coverage if the eighteen (18)-month maximum coverage period had not expired. The Executive acknowledges and agrees that the value of this coverage will be includible in his/her gross income for tax purposes. If the Company determines that the foregoing provisions of this Section 7(c) would result in a violation of the nondiscrimination rules under Code Section 105(h) or of any statute or regulation of similar effect or other adverse tax or legal consequences to the Employer, then this Section 7(c) shall be unilaterally reformed by the Company in such manner as is necessary as to not violate the nondiscrimination rules under Code Section 105(h) or of any statute or regulation of similar effect or cause such adverse consequences. 
(d)  If permissible under the Employing Company's group term life insurance plan, whether through conversion or otherwise, the Employing Company shall continue to provide term life insurance coverage substantially the same as that provided for the Executive immediately before the Termination Date and shall pay for the cost thereof for twenty-four (24) months following the Termination Date.
(e)  The Employing Company shall pay the cost of outplacement services incurred by the Executive during the twelve (12) month period following the Termination Date and provided by a firm of the Executives’ choice, up to a total of                         . Reimbursements for outplacement 
Page 4

expenses incurred during a calendar year shall be paid not later than March 15 of the following year.
(f)  To the extent that coverage or benefits under Subsection (c), (d), or (e) result in taxable income to the Executive, the Executive acknowledges and agrees that the Executive is fully responsible for the tax effect of the provision of such coverage or benefits.
(g)  If payments to the Executive pursuant to this Agreement would result in total Parachute Payments to the Executive, whether or not made pursuant to this Agreement, with a value (as determined pursuant to Code Section 280G and the guidance thereunder) equal to or greater than one hundred percent (100%) of the Parachute Payment Limit, the provisions of Section 9 shall apply as if set out in this Section 7.
(h)  Notwithstanding the preceding provisions of this Section, if the Executive is a “specified employee” within the meaning of Code Section 409A(a)(2)(B)(i), to the extent required by such Code Section, payments otherwise required by this Section shall be delayed to the earliest date on which such payments are permitted and shall be paid in a lump sum on the first day following the date that is six months following the Executive's Termination of Employment or, if earlier, the Executive's death. Furthermore, the obligations of the Employing Company to make payments to the Executive hereunder are subject to compliance with any applicable provisions of the Federal Deposit Insurance Corporation regulations found in Part 359 (entitled “Golden Parachute And Indemnification Payments”) of Title 12 of the Code of Federal Regulations (or any successor provisions).
8.    Change in Control Severance Benefit.
(a)  Subject to the following provisions of this Section and Executive executing a Release (as set forth in Section 19) and the statutory period during which the Executive is entitled to revoke the Release has expired on or before that sixtieth (60th) day following the Termination Date, the Employing Company shall provide the Executive with the payments and benefits set forth in this Section, if during the Term and concurrent with or within two (2) years after a Change in Control, either (i) the Employing Company terminates the Executive's employment (other than a termination for Cause, Disability, or death pursuant to Section 10), or (ii) the Executive voluntarily terminates his/her employment pursuant to Section 11 for Good Reason.
(b)  The Employing Company shall pay to the Executive a single lump sum payment in an amount equal to the product of (i)         times (ii) the sum of (A) the Executive’s annual Base Salary, at the greater of the rate in effect on the Change in Control Date or the Termination Date, plus (B) the Executive’s target bonus for the year containing the Change in Control Date or, if greater, for the year preceding the Change in Control Date, within sixty (60) days following the Executive’s Termination Date provided that the Executive has executed and submitted a Release of claims (as described in Section 19) and the statutory period during which the Executive is entitled to revoke 
Page 5

the Release has expired on or before that sixtieth (60th) day; and provided further, that if the sixty (60) day period spans two (2) calendar years the Employing Company shall pay the Executive in the calendar year immediately following the calendar year of the Executive’s Termination Date  .
(c)  The Employing Company shall continue to provide group medical coverage for the Executive (and his/her spouse and dependents, if any, covered by the Employing Company's group medical plan on his/her Termination Date), for the twenty-four (24) month period following the Termination Date. Such coverage shall be under the Employing Company's group medical plans and at the Employing Company's expense, shall be the same as that offered to active employees under the Employing Company's group medical plan and, to the extent Section 20(d) is applicable, shall be in compliance with Section 20(d) herein. If the coverage described in the preceding provisions is not available under the Employing Company's group medical plan, the Employing Company shall provide for substantially similar coverage at their expense. The Executive acknowledges and agrees that, in either case, the value of this coverage will be includible in his/her gross income for tax purposes. Coverage provided pursuant to this Subsection shall be concurrent with any required continuation coverage period under COBRA. If the Company determines that the foregoing provisions of this Section 8(c) would result in a violation of the nondiscrimination rules under Code Section 105(h) or of any statute or regulation of similar effect or other adverse tax or legal consequences to the Employer, then this Section 8(c) shall be unilaterally reformed by the Company in such manner as is necessary as to not violate the nondiscrimination rules under Code Section 105(h) or of any statute or regulation of similar effect or cause such adverse consequences.
(d)  For the twenty-four (24) month period following the Termination Date, the Employing Company shall continue to provide term life insurance coverage substantially the same as that provided for the Executive immediately before his/her Termination Date.
(e)  The Employing Company shall pay the cost of outplacement services incurred by the Executive during the twelve (12) month period following the Termination Date and provided by a firm of the Executives’ choice, up to a total of                         . Reimbursements for outplacement expenses incurred during a calendar year shall be paid not later than March 15 of the following year.
(f)  To the extent that coverage or benefits under Subsection (c), (d), or (e) results in taxable income to the Executive, the Executive acknowledges and agrees that the Executive is fully responsible for the tax effect of the provision of such coverage or benefits.
(g)  All outstanding Company stock options, to the extent not previously vested and exercisable, shall become vested and exercisable upon the Executive's Termination of Employment.
Page 6

(h)  If payments to the Executive pursuant to this Agreement would result in total Parachute Payments to the Executive, whether or not made pursuant to this Agreement, with a value (as determined pursuant to Code Section 280G and the guidance thereunder) equal to or greater than one hundred percent (100%) of the Parachute Payment Limit, the provisions of Section 9 shall apply as if set out in this Section 8.
(i)  Notwithstanding the preceding provisions of this Section, if the Executive is a “specified employee” within the meaning of Code Section 409A(a)(2)(B)(i), to the extent required by such Code Section, payments otherwise required by this Section shall be delayed to the earliest date on which such payments are permitted and shall be paid in a lump sum on the first day following the date that is six months following the Executive's Termination of Employment or, if earlier, the Executive's death. Furthermore, the obligations of the Employing Company to make payments to the Executive hereunder are subject to compliance with any applicable provisions of the Federal Deposit Insurance Corporation regulations found in Part 359 (entitled “Golden Parachute And Indemnification Payments”) of Title 12 of the Code of Federal Regulations (or any successor provisions).
9.    Provisions Relating to Parachute Payments.
(a)  If payments and benefits to or for the benefit of the Executive, whether pursuant to this Agreement or otherwise, would result in total Parachute Payments to the Executive with a value equal to or greater than one hundred percent (100%) of the Parachute Payment Limit, the amount payable to the Executive, shall be reduced so that the value of all Parachute Payments to the Executive, whether or not made pursuant to this Agreement, is equal to the Parachute Payment Limit minus One Dollar ($1.00), accomplished by first reducing any amounts payable pursuant to Subsection 7(b) or 8(b), as applicable, and then reducing other amounts of compensation to the extent necessary; provided that, no such reduction shall be taken if, after reduction for any applicable federal excise tax imposed on the Executive by Code Section 4999, as well as any federal, state and local income tax imposed on the Executive with respect to the total Parachute Payments, the total Parachute Payments accruing to the Executive would be more than the amount of the total Parachute Payments after (a) taking the reduction described in the first clause of this sentence, and (b) further reducing such payments by any federal, state and local income taxes imposed on the Executive with respect to the total Parachute Payments. The Company agrees to undertake such reasonable efforts as it may determine in its sole discretion to prevent any payment or benefit under this Agreement (or any portion thereof) from constituting an Excess Parachute Payment.
(b)  The amount of Parachute Payments and the Parachute Payment Limit shall be determined as provided in this Subsection (b). The Company shall direct its independent auditor (“Auditor”) or such other accounting firm experienced in such calculations and acceptable to the Executive to determine whether any Parachute Payments exceed the Parachute Payment Limit and the amount of any adjustment required by Subsection (a). The Company shall promptly give the Executive notice of the Auditor's determination. 
Page 7

All reasonable determinations made by the Auditor under this Subsection shall be binding on the Employing Company and the Executive and shall be made within thirty (30) days after the Executive's Termination of Employment.
10.    Termination of Employment by the Company for Cause, Unacceptable Performance, Disability, or Death. 
(a)  The Company may cause a Termination of Employment for Unacceptable Performance or Disability at any time before a Change in Control. To do so, the Board must provide the Executive with a notice of termination specifying the Termination Date and either the specific act (s) or failure(s) constituting Unacceptable Performance or the circumstances constituting Disability. If the Board's notice identifies an act or failure constituting Unacceptable Performance that is subject to correction under the definition of Unacceptable Performance and related definitions in this Agreement, the notice shall also specify the period during which the act or failure must be corrected. If the Board determines that the Executive has not corrected the act or failure in all material respects within the required correction period, the Board must then provide a second notice of termination stating the reasons for the termination and the Termination Date, and the Executive's Employment shall terminate on such date.
(b)  The Company may cause a Termination of the Executive's Employment for Cause or Disability at any time concurrent with or after a Change in Control. To do so, the Board must provide the Executive with a notice of termination specifying the Termination Date and either the specific act (s) or failure(s) constituting Cause or the circumstances constituting Disability. If the Board's notice identifies an act or failure constituting Cause, it shall be accompanied by a resolution duly adopted by not less than three-quarters (3/4) of the entire membership of the Board (after reasonable notice to the Executive and an opportunity for the Executive, together with his/her counsel, to be heard by the Board), finding, in the reasonable opinion of the Board, that one or more of the events of Cause listed above has occurred and specifying the details thereof. If the act or failure constituting Cause is subject to correction under the definition of Cause and related definitions in this Agreement, the notice shall also specify the period during which the act or failure must be corrected. If the Board determines that the Executive has not corrected the act or failure in all material respects within the required correction period, the Board must then provide a second notice of termination stating the reasons for the termination and the Termination Date, and the Executive's Employment shall terminate on such date.
(c)  If the Executive dies before his/her Termination of Employment, his/her employment shall terminate automatically on the date of his/her death.
(d)  In the case of a Termination of Employment pursuant to this Section 10, the Executive shall not be entitled to benefits or payments pursuant to Section 7 or 8.
11.    Resignation by Executive for Good Reason. If an event of Good Reason occurs during the Term, the Executive may, at any time within the ninety (90) day period following 
Page 8

such event, provide the Company with a notice of termination specifying the event of Good Reason and notifying the Company of his/her intention to terminate his/her employment upon the Employing Company's failure to correct the event of Good Reason within thirty (30) days following receipt of the Executive's notice of termination. If the Employing Company fails to correct the event of Good Reason and provide the Executive with notice of such correction within such thirty (30) day period, the Executive's employment shall terminate as of the end of such period, and the Executive shall be entitled to benefits as provided in Section 6 and Section 7 or 8, as applicable.
12.    Withholding and Taxes. The Employing Company may withhold from any payment made hereunder (i) any taxes that the Employing Company reasonably determine are required to be withheld under federal, state, or local tax laws or regulations, and (ii) any other amounts that the Employing Company is authorized to withhold. Except for employment taxes that are the obligation of the Employing Company, the Executive shall pay all federal, state, local, and other taxes (including, without limitation, interest, fines, and penalties) imposed on him/her under applicable law by virtue of or relating to the payments and/or benefits contemplated by this Agreement, subject to any reimbursement provisions of this Agreement.
13.    Use and Disclosure of Confidential Information. 
(a)  The Executive acknowledges and agrees that (i) by virtue of his/her employment, he/she will be given access to, and will help analyze, formulate or otherwise use, Confidential Information, (ii) the Employer has devoted (and will devote) substantial time, money, and effort to develop Confidential Information and maintain the proprietary and confidential nature thereof, and (iii) Confidential Information is proprietary and confidential and, if any Confidential Information were disclosed or became known by persons engaging in a business in any way competitive with the Company's Business, such disclosure would result in hardship, loss, irreparable injury, and damage to the Employer, the measurement of which would be difficult, if not impossible, to determine. Accordingly, the Executive agrees that the preservation and protection of Confidential Information is an essential part of his/her duties of employment and that, as a result of his/her employment with the Employing Company, he/she has a duty of fidelity, loyalty, and trust to the Employing Company in safeguarding Confidential Information. The Executive further agrees that he/she will use his/her best efforts, exercise utmost diligence, and take all steps necessary to protect and safeguard Confidential Information, whether such information derives from the Executive, other employees of the Employer, Customers, Prospective Customers, or vendors or suppliers of the Employer, and that he/she will not, directly or indirectly, use, disclose, distribute, or disseminate to any other person or entity or otherwise employ Confidential Information, either for his/her own benefit or for the benefit of another, except as required in the ordinary course of his/her employment by the Employing Company. The Executive shall follow all Employing Company policies and procedures to protect all Confidential Information and shall take any additional precautions necessary under the circumstances to preserve and protect against the prohibited use or disclosure of any Confidential Information.
Page 9

(b)  The confidentiality obligations contained in this Agreement shall continue as long as Confidential Information remains confidential (except that the obligations shall continue, if Confidential Information loses its confidential nature through improper use or disclosure, including but not limited to any breach of this Agreement) and shall survive the termination of this Agreement and/or termination of the Executive's employment with the Employing Company.
(c)  From time to time, the Employer may, for its own benefit, choose to place certain Confidential Information in the public domain. The fact that Confidential Information may be made available to the public in a limited form and under limited circumstances does not change the confidential and proprietary nature of such information, and does not release the Executive from his/her obligations with respect to such Confidential Information.
(d)  Notwithstanding the foregoing, nothing in this Agreement prohibits, limits, or restricts, or shall be construed to prohibit, limit, or restrict, Executive from exercising any legally protected whistleblower rights (including pursuant to Section 21F of the Exchange Act and the rules and regulations thereunder), without notice to or consent from the Company. Moreover, the federal Defend Trade Secrets Act of 2016 immunizes Executive against criminal and civil liability under federal or state trade secret laws - under certain circumstances - if Executive discloses a trade secret for the purpose of reporting a suspected violation of law. Immunity is available if Executive discloses a trade secret in either of these two circumstances: (1) Executive discloses the trade secret (a) in confidence, (b) directly or indirectly to a government official (federal, state or local) or to a lawyer, and (c) solely for the purpose of reporting or investigating a suspected violation of law; or (2) In a legal proceeding, Executive discloses the trade secret in the complaint or other documents filed in the case, so long as the document is filed “under seal” (meaning that it is not accessible to the public).
14.    Ownership of Documents and Return of Materials At Termination of Employment or Upon Demand of Employer. 
(a)  Any and all documents, records, and copies thereof, including but not limited to hard copies or copies stored digitally or electronically, pertaining to or including Confidential Information (collectively, “Company Documents”) that are made or received by the Executive during his/her employment shall be deemed to be property of the Employer. The Executive shall use Company Documents and information contained therein only in the course of his/her employment for the Employing Company and for no other purpose. The Executive shall not use or disclose any Company Documents to anyone except as authorized in the course of his/her employment and in furtherance of the Company's Business.
(b)  Upon Termination of Employment (with or without request), or at any time upon demand, the Executive shall immediately deliver to the Employing Company all Company Documents and all other Employer property in the Executive's possession or under his/her custody or control.  Executive will also certify to the Employer that (s)he 
Page 10

has not retained or transferred any Company Documents, data or information outside of the Employing Company and has deleted any and all Confidential Information from any personal electronic device, cloud storage or email under his/her possession, custody or control.   
15.    Non-Solicitation of Customers and Employees. The Executive agrees that during the Term and during the Standard Restricted Period or the Restricted Period, whichever is applicable, the Executive shall not, directly or indirectly, individually or jointly, (i) solicit in any manner, seek to obtain or service, or accept the business of any Customer for any product or service of the type offered by the Employer or competitive with the Company's Business, (ii) solicit in any manner, seek to obtain or service, or accept the business of any Prospective Customer for any product or service of the type offered by the Employer or otherwise competitive with the Company's Business, (iii) request or advise any Customer, Prospective Customer, or supplier of the Employer to terminate, reduce, limit, or change its business or relationship with the Employer, or (iv) induce, request, or attempt to influence any employee of the Employer to terminate his/her employment with the Employer.
16.    Covenant Not to Compete. The Executive hereby understands and acknowledges that, by virtue of his/her position with the Employing Company, he/she has obtained advantageous familiarity and personal contacts with Customers and Prospective Customers, wherever located, and the business, operations, and affairs of the Employer. Accordingly, during the Term of this Agreement and during the Standard Restricted Period or the Restricted Period, whichever is applicable, the Executive shall not, directly or indirectly:
(a)  as owner, officer, director, stockholder, investor, proprietor, organizer, employee, agent, representative, consultant, independent contractor, or otherwise, engage in the same trade or business as the Company's Business, in the same or similar capacity as the Executive worked for the Employing Company, or in such capacity as would cause the actual or threatened use of the Employer's trade secrets and/or Confidential Information; provided, however, that this Subsection shall not restrict the Executive from acquiring, as a passive investment, less than five percent (5%) of the outstanding securities of any class of an entity that are listed on a national securities exchange or actively traded in the over-the-counter market. The Executive acknowledges and agrees that, given the level of trust and responsibility given to him/her while in the Employing Company's employ, and the level and depth of trade secrets and Confidential Information entrusted to him/her, any immediately subsequent (i.e. within two (2) years) employment with a competitor to the Company's Business would result in the inevitable use or disclosure of the Employer's trade secrets and Confidential Information and, therefore, the restrictions are  reasonable and necessary to protect against such inevitable disclosure; or
(b)  offer to provide employment or work of any kind (whether such employment is with the Executive or any other business or enterprise), either on a full-time or part-time or consulting basis, to any person who then currently is, or who within one (1) year 
Page 11

preceding such offer or provision of employment has been, an employee of the Employer.
The restrictions on the activities of the Executive contained in this Section shall be limited to the following geographical areas:
(a)  within a fifteen (15) mile radius of each banking center location operated by the Employer on the Executive's Termination Date;
(b)  within each county in which a banking center location is operated by the Employer on the Executive's Termination Date;
(c)  within a fifty (50) mile radius of Company's corporate headquarters address in Evansville, Indiana; and/or
(d)  within each city, town, and county in which the Employer began expansion or acquisition planning or efforts during the Executive's employment with the Employing Company, and about which Executive gained knowledge of Confidential Information or bore responsibility for expanding the Company's Business.
17.    Remedies. The Executive agrees that the Company will suffer irreparable damage and injury and will not have an adequate remedy at law if the Executive breaches any provision of the Restrictive Covenants. Accordingly, if the Executive breaches or threatens or attempts to breach the Restrictive Covenants, in addition to all other available remedies, the Company shall be entitled to seek injunctive relief, and no or minimal bond or other security shall be required in connection therewith. The Executive acknowledges and agrees that in the event of termination of this Agreement for any reason whatsoever, the Executive can obtain employment not competitive with the Company's Business (or, if competitive, outside of the geographic and customer-specific scope described herein) and that the issuance of an injunction to enforce the provisions of the Restrictive Covenants shall not prevent the Executive from earning a livelihood. The Restrictive Covenants are essential terms and conditions to the Company entering into this Agreement, and they shall be construed as independent of any other provision in this Agreement or of any other agreement between the Executive and the Company. The existence of any claim or cause of action that the Executive has against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the Restrictive Covenants.
18.    Periods of Noncompliance and Reasonableness of Periods. The Restrictive Covenants described in Sections 15 and 16 shall be deemed not to run during all periods of noncompliance, the intention of the parties being to have such restrictions and covenants apply for the full periods specified in Sections 15 and 16 following the Termination Date. The Company and the Executive acknowledge and agree that the restrictions and covenants contained in Sections 15 and 16 are reasonable in view of the nature of the Company's Business and the Executive's advantageous knowledge of and familiarity with the Company's Business, operations, affairs, and Customers. Notwithstanding anything contained herein to the contrary, if the scope of any restriction or covenant contained in Sections 15 and 16 is found by a court of 
Page 12

competent jurisdiction to be too broad to permit enforcement of such restriction or covenant to its full extent, then such restriction or covenant shall be enforced to the maximum extent permitted by law. The parties hereby acknowledge and agree that a court of competent jurisdiction shall invoke and exercise the blue pencil doctrine to the fullest extent permitted by law to enforce this Agreement.
19.    Release. For and in consideration of the foregoing covenants and promises made by the Company, and the performance of such covenants and promises, the sufficiency of which is hereby acknowledged, the Executive agrees to release the Employer and all other persons named in the Release from any and all causes of action that the Executive has or may have against the Employer or any such person before the effective date of the Release, other than a breach of this Agreement. The Release shall be substantially in the form attached hereto as Exhibit 1. The Company shall provide the Release to the Executive as soon as practicable upon his/her Termination of Employment. THE EXECUTIVE'S RIGHT TO BENEFITS HEREUNDER SHALL BE CONTINGENT ON HIS SIGNING THE RELEASE AND THE STATUTORY REVOCATION PERIOD EXPIRING WITHIN SIXTY (60) DAYS AFTER RECEIVING IT.
20.    Reimbursement of Certain Costs.
(a)  If, during the life of the Executive and for a five (5) year period following his/her death, the Company brings a cause of action to enforce the Restrictive Covenants or to recover damages caused by the Executive's breach of the Restrictive Covenants, the substantially prevailing party in such action shall be entitled to reasonable costs and expenses (including, without limitation, reasonable attorneys' fees, expert witness fees, and disbursements) in connection with such action.
(b)  If, during the life of the Executive and for a five (5) year period following his/her death, a dispute arises regarding the Executive's rights hereunder, and the Executive obtains a final judgment in his/her favor from a court of competent jurisdiction with respect to such dispute, all reasonable costs and expenses (including, without limitation, reasonable attorneys' fees, expert witness fees, and disbursements) incurred by the Executive in connection with such dispute or in otherwise pursuing a claim based on a breach of this Agreement, shall be paid by the Company.
(c)  Any reimbursement by the Company pursuant to this Section shall be subject to compliance with applicable provisions of the Federal Deposit Insurance Corporation regulations found in Part 359 (entitled “Golden Parachute and Indemnification Payments”) of Title 12 of the Code of Federal Regulations (or any successor provisions).
(d)  Notwithstanding anything to the contrary in the foregoing, any reimbursements or in-kind benefits provided under this Agreement that are subject to Code Section 409A shall be made in compliance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and any reimbursements shall be made no later than the end of the Executive's taxable year following the Executive's taxable year in which the expense was incurred. In addition, the amounts eligible for reimbursement, or in-kind benefits to be 
Page 13

provided, during any one taxable year under this Agreement may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year under this Agreement and any right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.
21.    No Reliance. The Executive represents and acknowledges that in executing this Agreement, the Executive does not rely and has not relied upon any representation or statement by the Company and its agents, other than statements contained in this Agreement.
22.    Miscellaneous Provisions.
(a)  Further Assurances. Each of the parties hereto shall do, execute, acknowledge, and deliver or cause to be done, executed, acknowledged, and delivered at any time and from time to time upon the request of any other party hereto, all such further acts, documents, and instruments as may be reasonably required to effect any of the transactions contemplated by this Agreement.
(b)  Binding Effect; Assignment. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns; provided, however, that neither party hereto may assign this Agreement without the prior written consent of the other party. Notwithstanding the foregoing, this Agreement may be assigned without the prior consent of the Executive to a successor to the Company’s rights and obligations hereunder as a result of any Change in Control, merger, consolidation, restructuring or reorganization or to any other successor to all or substantially all of the securities, business and/or assets of the Company or Employer, and Executive shall continue to be bound by the terms and conditions of this Agreement including the Restrictive Covenants.  In connection with any such assignment by Company, following such assignment, references to “Company” in this Agreement, shall mean the successor to all or substantially all of the securities, business and/or assets of Company or any of its affiliates to whom this Agreement is assigned.
(c)  Waiver; Amendment. No provision or obligation of this Agreement may be waived or discharged unless such waiver or discharge is agreed to in writing and signed by the Chairman of the Board of Directors and the Executive. The waiver by any party hereto of a breach of or noncompliance with any provision of this Agreement shall not operate or be construed as a continuing waiver or a waiver of any other or later breach or noncompliance. Except as expressly provided otherwise herein, this Agreement may be amended or supplemented only by a written agreement executed by the Chairman of the Board of Directors and the Executive.
(d)  Headings. The headings in this Agreement have been inserted solely for ease of reference and shall not be considered in the interpretation or enforcement of this Agreement.
Page 14

(e)  Severability. All provisions of this Agreement are severable from one another, and the unenforceability or invalidity of any provision hereof shall not affect the validity or enforceability of the remaining provisions.
(f) Survival.  Anything contained in this Agreement to the contrary notwithstanding, the provisions of Sections 13-23 and corresponding definitions in Appendix A shall survive termination of this Agreement and any Termination of Employment hereunder.
(g)  Notice. Any notice, request, instruction, or other document to be given hereunder to any party shall be in writing and delivered by hand, registered or certified United States mail, return receipt requested, or other form of receipted delivery, with all expenses of delivery prepaid, as follows:
						
	If to the Executive:

            
            
            
	If to the Company:

Old National Bancorp, One Main Street
Evansville, Indiana 47708
ATTN: Chief Legal Counsel

or to such other address as either party hereto may have furnished to the other in writing in accordance with the preceding.
(h)  No Counterparts. This Agreement may not be executed in counterparts.
(i)  Governing Law; Jurisdiction; Venue; Waiver of Jury Trial. This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana, without reference to the choice of law principles or rules thereof. The parties hereto irrevocably consent to the jurisdiction and venue of the state courts for the State of Indiana located in Evansville, Indiana, or the United States District Court for the Southern District of Indiana, Evansville Division, located in Vanderburgh County, Indiana, and agree that all actions, proceedings, litigation, disputes, or claims relating to or arising out of this Agreement shall be brought and tried only in such courts. The Company, in its sole discretion, may, however, bring an action against the Executive in any court where jurisdiction over the Executive may be obtained. EACH OF THE PARTIES EXPRESSLY WAIVES ANY RIGHTS TO A JURY TRIAL THAT IT MAY OTHERWISE HAVE IN ANY COURT WITH RESPECT TO THIS AGREEMENT TO THE MAXIMUM EXTENT PERMITTED BY LAW.
(j)  Entire Agreement. This Agreement constitutes the entire and sole agreement between the Employer and the Executive with respect to the Executive's employment or the termination thereof, and there are no other agreements or understandings either written or oral with respect thereto. The parties agree that any and all prior severance and/or change in control agreements between the parties have been terminated and are of no further force or effect.
Page 15

(k)  Rules of Interpretation. In interpreting this Agreement, the following rules shall apply:
(1)    The rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement.
(2)    Words used in the singular shall be construed to include the plural, where appropriate, and vice versa, and words used in the masculine shall be construed to include the feminine, where appropriate, and vice versa.
(3)    It is the intention and purpose of the Company, Employing Company, Employer and the Executive that this Agreement shall be, at all relevant times, in compliance with (or exempt from) Code Section 409A and all other applicable laws, and this Agreement shall be so interpreted and administered. In addition to the general amendment rights of the Company, Employing Company and Employer with respect to the Agreement, the Company, Employing Company, and Employer specifically retain the unilateral right (but not the obligation) to make, prospectively or retroactively, any amendment to this Agreement or any related document as they deem necessary or desirable to more fully address issues in connection with compliance with (or exemption from) Code Section 409A and such other laws. In no event, however, shall this section or any other provisions of this Agreement be construed to require the Company, Employing Company or Employer to provide any gross-up for the tax consequences of any provisions of, or payments under, this Agreement and the Company, Employing Company and Employer shall have no responsibility for tax or legal consequences to the Executive (or his beneficiary) resulting from the terms or operation of this Agreement. Also, in accordance with Code Section 409A, if the Executive is entitled to a distribution within a period following an event as permitted by Code Section 409A, the Executive will have no right to designate the taxable year of payment. Each installment payment specified in and paid pursuant to this Agreement shall be, and is hereby designated, a separate payment for purposes of Code Section 409A.
(4)    Except as provided in the preceding provisions of this Subsection, this Agreement shall be construed in accordance with the internal laws of the State of Indiana, without regard to conflict of law principles.
23.    Review and Consultation. The Company and the Executive hereby acknowledge and agree that each (i) has read this Agreement in its entirety prior to executing it, (ii) understands the provisions and effects of this Agreement, (iii) has consulted with such attorneys, accountants, and financial and other advisors as it or he/she has deemed appropriate in connection with their respective execution of this Agreement, and (iv) has executed this Agreement voluntarily. THE EXECUTIVE HEREBY UNDERSTANDS, 
Page 16

ACKNOWLEDGES, AND AGREES THAT THIS AGREEMENT HAS BEEN PREPARED BY COUNSEL FOR THE COMPANY AND THAT THE EXECUTIVE HAS NOT RECEIVED ANY ADVICE, COUNSEL, OR RECOMMENDATION WITH RESPECT TO THIS AGREEMENT FROM THE COMPANY OR ITS COUNSEL.

EXECUTIVE

        

Date:     

OLD NATIONAL BANCORP

    

Date: _____________________________

Page 17

APPENDIX A

DEFINED TERMS
For purposes of this Agreement, the following terms shall have the meanings specified below: 
“Bank” means Old National Bank, the Company's principal subsidiary, and any successor to all or substantially all of its business.
“Board” or “Board of Directors” means the Company's Board of Directors or the committee of the Board authorized to act of the Board's behalf.
“Cause” means any of the following:
(1)  the Executive's act or failure to act constituting willful misconduct or gross negligence that is materially injurious to the Employer or its reputation;
(2)  the Executive's willful and material failure to perform the duties of his/her employment (except in the case of a Termination of Employment for Good Reason or on account of the Executive's physical or mental inability to perform such duties) and the failure to correct such failure within five (5) days after receiving notice from the Board of Directors specifying such failure in detail;
(3)  the Executive's willful and material violation of the Employing Company's code of ethics or written discrimination or harassment policies;
(4)  the requirement or direction of a federal or state regulatory agency having jurisdiction over the Company that the Executive's employment be terminated;
(5)  the Executive's arrest or indictment for (i) a felony or (ii) a lesser criminal offense involving dishonesty, breach of trust, or moral turpitude; or
(6)  the Executive's intentional breach of a material term, condition, or covenant of this Agreement and the failure to correct such violation within five (5) days after receipt of written notice from the Board of Directors specifying such breach in detail.
For purposes of this definition, no act or failure to act shall be considered “willful,” if the Executive acted or failed to act either (i) in good faith or (ii) with a reasonable belief that his/her act or failure to act was not opposed to the Employer's best interests.
“Change in Control” means the first occurrence of any of the following events:

Page 18

(1)any “person” (as the term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than any employee benefit plan of the Company or any affiliate, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing twenty-five percent (25%) or more of the combined voting power of Company’s outstanding securities; or

(2)  individuals who constitute the Board of Directors of the Company on the date hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the date hereof whose election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board, or whose nomination for election by the Company’s shareholders was approved by the Corporate Governance and Nominating Committee serving under an Incumbent Board, shall be, for purposes of this clause (2), considered as though such person were a member of the Incumbent Board; or

(3)  the Company consummates a merger, consolidation, share exchange, division or other reorganization or transaction of the Company (a “Fundamental Transaction”) with any other corporation, other than a Fundamental Transaction that results in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the combined voting power immediately after such Fundamental Transaction of (A) the Company’s outstanding securities, (B) the surviving entity’s outstanding securities, or (C) in the case of a division, the outstanding securities of each entity resulting from the division; or

(4)  the shareholders of the Company approve a plan of complete liquidation or winding up of the Company; or

(5)  the consummation of an agreement for the sale or disposition (in one transaction or a series of transactions) of all or substantially all of the Company’s assets.

Notwithstanding the foregoing, if any payment or benefit pursuant to this Agreement is “nonqualified deferred compensation” under Code Section 409A, and the payment or benefit is triggered by a Change in Control, the events described above shall not constitute a Change in Control with respect to such nonqualified deferred compensation unless they constitute a change in ownership or effective control of the Company, or a change in the ownership of a substantial portion of the assets of the Company, as described under Code Section 409A; or in the case of the liquidation or dissolution of the Company, the provisions of Treasury Regulation Section 1.409A-3(j)(4)(ix)(A) are complied with.

Page 19

“Change in Control Date” means the date on which a Change in Control occurs.
“COBRA” refers to the group health plan continuation requirements in Sections 601 through 607 of the Employee Retirement Income Security Act of 1974, as amended, and Section 4980B of the Code.
“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations promulgated thereunder.
“Company” means Old National Bancorp and any successor to all or substantially all of its business.
“Company's Business” means, collectively, the products and services provided by the Employer, including the following:
(1)  community banking, including lending activities (including individual loans consisting primarily of home equity lines of credit, residential real estate loans, and/or consumer loans, and commercial loans, including lines of credit, real estate loans, letters of credit, and lease financing) and depository activities (including noninterest-bearing demand, NOW, savings and money market, and time deposits), debit and ATM cards, merchant cash management, internet banking, and other general banking services;
(2)  investment and brokerage services, including a full array of investment options and investment advice;
(3)  treasury segment, including investment management, wholesale funding, interest rate risk, liquidity and leverage management, capital markets products (including interest rate derivatives, foreign exchange, and industrial revenue bond financing);
(4)  wealth management, including fiduciary and trust services, fee-based asset management, and mutual fund management; and
(5)  insurance agency services, including full-service insurance brokerage services, such as commercial property and casualty, surety, loss control services, employee benefits consulting and administration, and personal insurance.
“Compensation” means, as of the Termination Date, the Executive's annual Base Salary then in effect, plus the targeted cash incentive that the Executive would have been eligible to receive in the year in which the Termination Date occurs (regardless of whether the cash incentive plan is then in effect). For purposes of the preceding sentence, any reduction in the Executive's annual Base Salary or targeted cash incentive that is an event of Good Reason shall be disregarded.
“Confidential Information” means the following:
Page 20

(1)  materials, records, documents, data, statistics, studies, plans, writings, and information (whether in handwritten, printed, digital, or electronic form) relating to the Company's Business that are not generally known or available to the Company's business, trade, or industry or to individuals who work therein other than through a breach of this Agreement, or
(2)  trade secrets of the Employer (as defined in Indiana Code §24-2-3-2, as amended, or any successor statute).
Confidential Information includes, but is not limited to: (i) information about the Employer's employees; (ii) information about the Employer's compensation policies, structure, and implementation; (iii) hardware, software, and computer programs and technology used by Employer; (iv) Customer and Prospective Customer identities, lists, and databases, including private information related to customer history, loan activity, account balances, and financial information; (v) strategic, operating, and marketing plans; (vi) lists and databases and other information related to the Employer's vendors; (vii) policies, procedures, practices, and plans related to pricing of products and services; and (viii) information related to the Employer's acquisition and divestiture strategy. Information or documents that are generally available or accessible to the public shall be deemed Confidential Information, if the information is retrieved, gathered, assembled, or maintained by the Employer in a manner not available to the public or for a purpose beneficial to the Employer.
“Customer” means a person or entity who is a customer of the Employer at the time of the Executive's Termination of Employment or with whom the Executive had direct contact on behalf of the Employing Company at any time during the period of the Executive's employment with the Employing Company.
“Disability” means that the Executive is disabled within the meaning of the long-term disability policy of the Employing Company, as in effect on the earlier of the Termination Date or the Change in Control Date. Termination of the Executive's employment on account of Disability shall not affect his/her eligibility for benefits under any disability policy or program of the Employer.
“Employer” means the Company and any other employer that is treated as a single employer with the Company pursuant to Code Section 414(b), (c), or (m).
“Employing Company” means the Company or the Bank.
“Excess Parachute Payment” has the meaning given to such term in Code Section 280G(b)(1).
“Good Reason” means, for purposes of Sections 7, 8 and 11 any of the following without the express written consent of the Executive:
(1)  a material reduction in the Executive's duties, responsibilities, or authority with the Employing Company;
Page 21

(2)  a reduction in the Executive's Base Salary or failure to include the Executive with other similarly situated employees in any incentive, bonus, or benefit plans as may be offered by the Employing Company from time to time; 
(3)  a reduction in the Executive’s total compensation opportunity
(4)  a change in the primary location at which the Executive is required perform the duties of his/her employment to a location that is more than fifty (50) miles from the location at which his/her office is located on the effective date of this Agreement; or
(5)  the Company's material breach of this Agreement.

 “Parachute Payment” has the meaning give to such term in Code Section 280G(b)(2).
“Parachute Payment Limit” means three (3) times the “base amount”, as defined by Code Section 280G(b)(3).
“Prospective Customer” means a person or entity who was the direct target of sales or marketing activity by the Executive or whom the Executive knew was a target of the Employer's sales or marketing activities during the one year period preceding the Executive's Termination of Employment.
“Release” means the release referred to in Section 19.
“Restricted Period” shall apply when the Executive’s employment terminates pursuant to Section 7 and shall mean the twelve (12) months immediately following the Termination Date; except that if a court or arbitrator finds that a twelve (12) month Restricted Period is not reasonably necessary to protect legitimate business interests of the Company, the Restricted Period shall be nine (9) months immediately following the Termination Date; except that if a court or arbitrator finds that a nine (9) month Restricted Period is not reasonably necessary to protect legitimate business interests of the Company, the Restricted Period shall be six (6) months immediately following the Termination Date.
“Restrictive Covenants” means the restrictions contained in Sections 13, 14, 15, and 16.
“Standard Restricted Period” shall apply when the Executive’s employment terminates for any reason other than pursuant to Section 7 and shall mean the twenty-four (24) months immediately following the Termination Date, except that if a court or arbitrator finds that a twenty-four (24) month Standard Restricted Period is not reasonably necessary to protect legitimate business interests of the Company, the Standard Restricted Period shall be eighteen (18) months immediately following the Termination Date; except that if a court or arbitrator finds that an eighteen (18) month Standard Restricted Period is not reasonably necessary to protect legitimate business interests of the Company, the Standard Restricted Period shall be twelve (12) months immediately following the Termination Date; except that if a court or arbitrator finds that a twelve (12) month Standard Restricted Period is not reasonably necessary 
Page 22

to protect legitimate business interests of the Company, the Standard Restricted Period shall be nine (9) months immediately following the Termination Date; except that if a court or arbitrator finds that a nine (9) month Standard Restricted Period is not reasonably necessary to protect legitimate business interests of the Company, the Standard Restricted Period shall be six (6) months immediately following the Termination Date.
“Term” means, unless the Agreement is terminated earlier, the Initial Term and any Renewal Term as determined pursuant to Section 2.
“Termination Date” means the date of the Executive's Termination of Employment.
“Termination of Employment,” and capitalized forms and derivations thereof, means the Executive's termination of employment with the Employer and all of the Employing Company pursuant to which the Executive ceases to be an employee and which termination also constitutes a “separation from service” within the meaning of Code Section 409A.
“Unacceptable Performance” means any of the following:
(1)  the Executive's act or failure to act constituting willful misconduct or gross negligence that is materially injurious to the Employer or its reputation;
(2)  the Executive's material failure to perform the duties of his/her employment (except in the case of a Termination of Employment for Good Reason or on account of the Executive's physical or mental inability to perform such duties) and the failure to correct such failure within a reasonable period after receiving written notice from the Board of Directors describing such failure in detail;
(3)  the Executive's violation of any code of ethics or business conduct or written discrimination or harassment policies of the Employing Company that continues after the Board has provided notice to the Executive that the continuation of such conduct will result in termination of the Executive's employment;
(4)  the Executive's failure to comply with the Company's rules, procedures, guidelines, or the Company's Employee Handbook, as may be amended from time-to-time;
(5)  the requirement or direction of a federal or state regulatory agency having jurisdiction over the Company that the Executive be removed from his/her position or the institution by such an agency of a formal enforcement proceeding against the Company or the Executive specifically naming the Executive as a person with substantial involvement in the acts (or omissions) that are the subject of such proceeding, and seeking that the Executive cease and desist from such acts (or omissions) in connection with his/her duties or seeking civil money penalties as a result of his/her past acts (or omissions);
(6)  the Executive's arrest or indictment for (i) a felony or (ii) a lesser criminal offense involving dishonesty, breach of trust, or moral turpitude; or
Page 23

(7)  the Executive's breach of a material term, condition, or covenant of this Agreement and the failure to correct such breach promptly following receipt of written notice from the Board of Directors describing such breach in detail.

Page 24

EXHIBIT I
RELEASE OF ALL CLAIMS
This release of all claims (the “Release”) is entered into in favor of Old National Bancorp (including all subsidiaries and affiliates) (“Company”) by [NAME] (“Executive”) pursuant to the Employment Agreement between the Company and Executive, effective as of [DATE] (the “Employment Agreement”).  This is the Release referenced in Section 19 of the Employment Agreement.  
In exchange for and as a condition of receiving the payments and benefits set forth in Section 7 or 8 of the Employment Agreement, the parties agree as follows:
1.    The Executive releases, waives and discharges the Company and its agents (as defined below) from, and covenants not to bring suit or otherwise institute legal proceedings against any of them arising in whole or in part from, all claims, whether known or unknown, arising out of the Executive's employment relationship with the Company, the termination of that relationship, and all other events, incidents, or actions occurring before the date on which this Release is signed; provided, however, this Release shall not apply to any claim based on the Company's breach of Section 6 of the Employment Agreement. Claims released herein include, but are not limited to, discrimination claims based on age, race, sex, religion, national origin, disability, veteran status, or any other employment claim, including claims arising under the Civil Rights Act of 1866, 42 U.S.C. § 1981; Title VII of the Civil Rights Act of 1964; the Americans with Disabilities Act; the Age Discrimination in Employment Act of 1967; the Federal Rehabilitation Act of 1973; the Older Workers' Benefits Protection Act; the Employee Retirement Income Security Act of 1974; the Fair Labor Standards Act; the Family and Medical Leave Act (to the extent that FMLA claims may be released under governing law); the Workers Adjustment and Retraining Notification Act; the Consolidated Omnibus Budget Reconciliation Act of 1986; the Occupational Health & Safety Act; the Indiana Civil Rights Act; the Indiana Wage Payment and Wage Claims Acts; the Minnesota Human Rights Act; any Federal or State wage and hour laws and all other similar Federal or State statutes; any and all tort or contract claims, including, but not limited to, breach of contract, breach of good faith and fair dealing, infliction of emotional distress, defamation, or wrongful termination or discharge; and claims for damages of any kind and nature including compensatory, general, special or punitive; and/or claims for attorney’s fees and/or costs.
Executive hereby represents and warrants that (s)he has not filed or reported any claims or complaints in any forum and that (s)he has not assigned to any third party or filed with any agency or court any claim released by this paragraph 1, except for any claims, reports or information filed with or provided to the Securities and Exchange Commission (the “SEC”) or other government agency or court confidentially pursuant to Section 21F of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
Executive is not waiving any claim for workers’ compensation, although Executive acknowledges (s)he has not sustained a work-related injury or illness.  Nothing in this Release prohibits Executive from filing a charge with the Equal Employment Opportunity Commission, National Labor Relations Board or a comparable state or local administrative agency related to 
Page 25

Executive’s employment or separation of employment.  Executive does forever waive his/her right to recover or receive any monetary damages, attorneys’ fees, back pay, reinstatement or injunctive relief from the Company and its agents relating to any matter whatsoever up to the date of this Agreement.  However, nothing in this Release (i) prohibits, limits or restricts, or shall be construed to prohibit, limit or restrict, Executive from exercising any legally protected whistleblower rights (including pursuant to Section 21F of the Exchange Act and the rules and regulations thereunder), without notice to or consent from the Company, or (ii) to the extent required by law, prohibits or shall be construed to prohibit Executive from receiving a reward from the SEC or other applicable government agency pursuant to Section 21F of the Exchange Act or other applicable whistleblower or other law or regulation in connection therewith.
2.    The Executive further acknowledges that the Company has advised the Executive to consult with an attorney of the Executive's own choosing and that the Executive has had ample time and adequate opportunity to thoroughly discuss all aspects of this Release with legal counsel prior to executing this Release.
3.    The Executive agrees that the Executive is signing this Release of his/her own free will and is not signing under duress.
4.    In the event the Executive is forty (40) years of age or older, the Executive acknowledges that the Executive has been given a period of twenty-one (21) days to review and consider a draft of this Release in substantially the form of the copy now being executed and has carefully considered the terms of this Release. The Executive understands that the Executive may use as much or all of the twenty-one (21) day period as the Executive wishes prior to signing, and the Executive has done so.
5.    In the event the Executive is forty (40) years of age or older, the Executive has been advised and understands that the Executive may revoke this Release within seven (7) days after acceptance.  In the event the Executive was working in Minnesota, the Executive has been advised and understands that the Executive may revoke this Release within fifteen (15) days after acceptance.  ANY REVOCATION MUST BE IN WRITING AND HAND-DELIVERED OR SENT VIA CERTIFIED MAIL, RETURN RECEIPT REQUESTED TO:

Old National Bancorp 
Attn: Chief Legal Counsel
One Main Street 
Evansville, IN 47708
NO LATER THAN BY CLOSE OF BUSINESS ON THE SEVENTH (7TH) (OR FIFTEENTH (15th) IF IN MINNESOTA) DAY FOLLOWING THE DATE OF EXECUTION OF THIS RELEASE.
6.    The “Company and its agents,” as used in this Release, means the Company, its subsidiaries, affiliated or related corporations or associations, their predecessors, successors, and assigns, and the directors, officers, managers, supervisors, employees, representatives, servants, 
Page 26

agents, and attorneys of the entities above described, and all persons acting, through, under or in concert with any of them.
7.    The Executive agrees to refrain from making any disparaging remarks concerning the Company or its agents. The Company agrees to refrain from providing any information to third parties other than confirming dates of employment and job title, unless the Executive gives the Company written authorization to release other information or as otherwise required by law. With respect to the Company, this restriction pertains only to official communications made by the Company's directors and/or officers and not to unauthorized communications by the Company's employees or agent. This restriction will not bar the Company from disclosing the Release as a defense or bar to any claim made by the Executive in derogation of this Release.  Nothing in this Agreement prohibits, limits or restricts, or shall be construed to prohibit, limit or restrict, the Executive from making disclosures required by the SEC.  
8.    This Release shall have no effect on the provisions of the Employment Agreement which, expressly or by implication including, but not limited to, Sections 13-23, shall survive termination of employment.
PLEASE READ CAREFULLY BEFORE SIGNING. EXCEPT AS EXPRESSLY PROVIDED IN PARAGRAPH 1 ABOVE, THIS RELEASE CONTAINS A RELEASE AND DISCHARGE OF ALL KNOWN AND UNKNOWN CLAIMS AGAINST THE COMPANY AND ITS AGENTS EXCEPT THOSE RELATING TO THE ENFORCEMENT OF THIS RELEASE OR THOSE ARISING AFTER THE EFFECTIVE DATE OF THIS RELEASE.

Page 27

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00323-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00323-of-00352.parquet"}]]