Document:

Exhibit 10.3

 

 

 

 

 

 

 

 

VOTING AGREEMENT

 

by and between

 

Innoviva,
Inc.

 

and

 

the
stockholder party hereto

 

Dated as of _______, 2020

 

 

 

 

 

 

 

     

     

    

 

VOTING AGREEMENT

 

This Voting Agreement
(this “Agreement”) is entered into as of [______], 2020, between Innoviva, Inc., a Delaware corporation (“Purchaser”),
and the undersigned stockholder (the “Stockholder”).

 

WHEREAS, as of the date
hereof, the Stockholder is the sole record and beneficial owner of, and has the sole power to vote (or to direct the voting of)
the number of shares of common stock, par value $0.01 per share (the “Common Shares”), of Armata Pharmaceuticals
Inc., a Washington corporation (the “Company”), set forth opposite the Stockholder’s name on Schedule
I hereto (such Common Shares, together with any other shares of the Company that are acquired by the Stockholder after the
date hereof, the “Subject Shares”);

 

WHEREAS, the Company
and Purchaser entered into a Securities Purchase Agreement, dated as of January 27, 2020 (as amended from time to time, the “Purchase
Agreement”), pursuant to which Purchaser has agreed to purchase, and the Company has agreed to sell, 8,710,800 Common
Shares of the Company, together with warrants to purchase an additional 8,710,800 Common Shares of the Company;

 

WHEREAS, the consummation
of the transactions contemplated by the Purchase Agreement requires the affirmative vote of the majority of the votes cast at a
duly called meeting of the holders of a majority in voting power of the Common Shares, entitled to vote thereon pursuant to Rules
710 and 713(b) of the New York Stock Exchange American;

 

WHEREAS, Purchaser and
the Stockholder have agreed that the voting power of the Subject Shares will be subject to the restrictions set forth in this Agreement
from the date hereof through the date on which this Agreement is terminated in accordance with its terms (such period, the “Voting
Period”); and

 

WHEREAS, as an inducement
to Purchaser’s willingness to enter into the Purchase Agreement and consummate the transactions contemplated thereby, transactions
from which the Stockholder believes it will each derive substantial benefits through its ownership interests in the Company, the
Stockholder is entering into this Agreement.

 

NOW, THEREFORE, in consideration
of the foregoing and the respective representations, warranties, covenants and agreements set forth herein, the parties agree as
follows:

 

ARTICLE
I

 

DEFINITIONS

 

Section
1.1     Capitalized Terms. For purposes of this Agreement, capitalized terms used and not defined herein shall have
the respective meanings ascribed to them in the Purchase Agreement.

 

    	 	- 1 -	 

     

    

 

ARTICLE
II

 

VOTING
AGREEMENT

 

Section
2.1     Agreement to Vote. Each Stockholder hereby agrees that, during the Voting Period, such Stockholder shall,
if a meeting of stockholders of the Company is held, appear at the meeting, in person or by proxy, and vote (or cause to be voted),
and if an action is to be taken by written consent in lieu of a meeting, provide a written consent, in respect of all its Subject
Shares, in each case (i) in favor of (A) any proposal to adopt and approve or reapprove the Purchase Agreement and the transactions
contemplated thereby, (B) the Charter Amendment, and (C) waiving any notice requirements applicable to the Purchase Agreement or
any of the transactions contemplated thereby pursuant to the Company’s organizational documents or applicable Law, and (ii)
against (X) any action or agreement that would reasonably be expected to prevent or materially delay the consummation of the transactions
contemplated by the Purchase Agreement, (Y) any Acquisition Proposal and any action in furtherance of any such Acquisition Proposal
and (Z) any action, proposal, transaction or agreement that is intended or would result in a breach in any material respect of
any covenant, representation or warranty or any other obligation or agreement of the Company under the Purchase Agreement or the
Stockholder under this Agreement.

 

Section
2.2     Grant of Irrevocable Proxy. If requested by Purchaser, each Stockholder shall appoint Purchaser and any designee
of Purchaser, and each of them individually, as such Stockholder’s proxy, with full power of substitution and resubstitution,
to vote during the Voting Period with respect to any and all of the Subject Shares on the matters and in the manner specified in
Section 2.1. Each Stockholder shall take all further action or execute such other instruments as may be necessary to effectuate
the intent of any such proxy. Each Stockholder affirms that any irrevocable proxy given by it with respect to the Purchase Agreement
and the transactions contemplated thereby shall be given to Purchaser by such Stockholder to secure the performance of the obligations
of such Stockholder under this Agreement. It is agreed that Purchaser (and its officers on behalf of Purchaser) will use the irrevocable
proxy that may be granted by the Stockholder only in accordance with applicable Law and that, to the extent Purchaser (and its
officers on behalf of Purchaser) uses any such irrevocable proxy, it will only vote the Subject Shares subject to such irrevocable
proxy with respect to the matters specified in, and in accordance with the provisions of, Section 2.1.

 

Section
2.3     Nature of Irrevocable Proxy. Any proxy granted pursuant to Section 2.2 to Purchaser by a Stockholder
shall be irrevocable during the term of this Agreement, shall be deemed to be coupled with an interest sufficient in law to support
an irrevocable proxy and shall revoke any and all prior proxies or powers of attorney granted by such Stockholder and no subsequent
proxy or power of attorney shall be given or written consent executed (and if given or executed, shall not be effective) by such
Stockholder with respect thereto. Any proxy that may be granted hereunder shall terminate upon the termination of this Agreement,
but shall survive the death or incapacity of such Stockholder and any obligation of such Stockholder under this Agreement shall
be binding upon the heirs, personal representatives and successors of such Stockholder.

 

    	 	- 2 -	 

     

    

 

ARTICLE
III

 

COVENANTS

 

Section
3.1     Subject Shares.

 

(a)       Each
Stockholder agrees that during the Voting Period, it shall not, and shall not commit or agree to, without Purchaser’s prior
written consent, (i) directly or indirectly, whether by merger, consolidation or otherwise, offer for sale, sell (including
short sales), transfer, tender, pledge, encumber, assign or otherwise dispose of (including by gift or by operation of law) (collectively,
a “Transfer”), or enter into any contract, option, derivative, hedging or other agreement or arrangement or
understanding (including any profit-sharing arrangement, through the granting of any proxies or powers of attorney, in connection
with a voting trust or voting agreement or by operation of Law) with respect to, or consent to or permit, a Transfer of, any or
all of the Subject Shares or any interest therein or (ii) take any action inconsistent with this Agreement, the Purchase Agreement
or the transactions contemplated hereby or thereby (including by granting of any proxy or power of attorney with respect to the
Subject Shares (other than the proxy contemplated by Section 2.2) or agreeing to divest itself of the voting power with
respect to its Subject Shares or vote its Subject Shares on any matter in a manner that would be inconsistent with its obligations
under this Agreement). Notwithstanding the foregoing, this Section 3(a) shall not prohibit a Transfer of the Subject Shares by
the Stockholder to an Affiliate of the Stockholder; provided, that a Transfer referred to in this sentence shall be permitted only
if, as a precondition to such Transfer, the transferee agrees in a writing, reasonably satisfactory in form and substance to Purchaser,
to be bound by all of the terms of this Agreement. Each Stockholder agrees that any Transfer of Subject Shares not permitted hereby
shall be null and void and that any such prohibited Transfer shall be enjoined. If any involuntary transfer of any Subject Shares
covered hereby shall occur (including, but not limited to, a sale by any Stockholder’s trustee in bankruptcy, or a sale to
a purchaser at any creditor’s or court sale), the transferee (which term, as used herein, shall include any and all transferees
and subsequent transferees of the initial transferee) shall take and hold such Subject Shares subject to all of the restrictions,
liabilities and rights under this Agreement, which shall continue in full force and effect.

 

(b)       In
the event of a stock dividend or distribution, or any change in the Subject Shares by reason of any stock dividend or distribution,
split-up, recapitalization, combination, conversion, exchange of shares or the like, the term “Subject Shares” shall
be deemed to refer to and include the Subject Shares as well as all such stock dividends and distributions and any securities into
which or for which any or all of the Subject Shares may be changed or exchanged or which are received in such transaction. Each
Stockholder further agrees that, in the event such Stockholder purchases or otherwise acquires beneficial or record ownership of
or an interest in, or acquires the right to vote or share in the voting of, any additional Common Shares, in each case after the
execution of this Agreement, then any such additional Common Shares shall be subject to the terms of this Agreement, including
all covenants, agreements, obligations, representations and warranties set forth herein as if those additional shares were owned
by such Stockholder on the date of this Agreement.

 

    	 	- 3 -	 

     

    

 

Section
3.2     Capacity. All agreements and understandings made herein shall be made solely in each Stockholder’s capacity
as a holder of the Subject Shares and not in any other capacity. For the avoidance of doubt, notwithstanding anything to the contrary
in this Agreement, the parties acknowledge that if a Stockholder has a nominee or Affiliate on the Company’s board of directors
(the “Board”), the parties agree that (i) such nominee or Affiliate of such Stockholder on the Board (each,
a “Stockholder Designee”) shall be free to act in his/her capacity as a director of the Company solely in accordance
with his duties to the Company and its stockholders, (ii) nothing herein shall prohibit or restrict any Stockholder Designee from
taking any action (or omitting to take any action) in facilitation of the exercise of his/her fiduciary duties pursuant to and
in accordance with the Purchase Agreement or otherwise and (iii) no action taken by a Stockholder Designee or the omission by a
Stockholder Designee to take any action, acting in his or her capacity as a director of the Company, shall be deemed to be a breach
by such Stockholder of this Agreement..

 

Section
3.3     Other Offers. During the Voting Period, none of the Stockholder or its Affiliates (in their capacity as such)
shall, and the Stockholder shall not authorize or permit any of its Representatives to, take any of the following actions: (i)
initiate, solicit, facilitate or knowingly encourage any Acquisition Proposal or the making or submission thereof or the making
of any proposal that could reasonably be expected to lead to any Acquisition Proposal, (ii) participate or engage in any negotiations
regarding, or furnish any third party any non-public information relating to the Company or its Subsidiaries, in connection with
or with a view to induce the making, submission or announcement of an Acquisition Proposal or any inquiries or proposals that could
reasonably be expected to lead to an Acquisition Proposal, or (iii) adopt or approve any Acquisition Proposal or enter into any
agreement or arrangement (including any letter of intent or agreement in principal) with respect to an Acquisition Proposal; provided,
however, that none of the foregoing restrictions shall apply to the Stockholder’s and its Representatives’ interactions
with Purchaser and its Subsidiaries and Representatives. Without limiting the foregoing, it is understood that any violation of
the foregoing restrictions by any Affiliates or Representatives of a Stockholder who are acting at such Stockholder’s direction
or behalf shall be deemed to be a breach of this Section 3.3 by such Stockholder. The Stockholder shall, and shall cause
its Affiliates and Representatives to, cease immediately and cause to be terminated any and all existing activities, discussion
or negotiations, if any, with any third party conducted prior to the date hereof with respect to any Acquisition Proposal.

 

Section
3.4     Communications. During the Voting Period, each Stockholder shall not, and shall use its commercially reasonable
efforts to cause its Representatives, if any, not to, make any press release, public announcement or other public communication
that criticizes or disparages this Agreement or the Purchase Agreement or any of the transactions contemplated hereby and thereby,
without the prior written consent of Purchaser, provided that the foregoing shall not limit or affect any actions taken by such
Stockholder that would be permitted to be taken by the Company pursuant to the terms of the Purchase Agreement or any Affiliate
of such Stockholder who is a director, officer or employee of the Company from taking any action in his or her capacity as a director,
officer or employee of the Company, including making any filings with the SEC in connection with the Purchase Agreement or any
of the transactions contemplated thereby. Each Stockholder hereby consents to and authorizes the publication and disclosure by
Purchaser and the Company in any publicly filed documents relating to the Purchase Agreement or the transactions contemplated thereby
of: (a) such Stockholder’s identity; (b) such Stockholder’s ownership of the Subject Shares; and (c) the nature of
such Stockholder’s commitments, arrangements and understandings under this Agreement, and any other information that Purchaser
or the Company reasonably determine to be necessary in any SEC disclosure document in connection with the Purchase Agreement or
any transactions contemplated thereby.

 

    	 	- 4 -	 

     

    

 

Section
3.5     Voting Trusts. Each Stockholder agrees that it will not, nor will it permit any entity under its control to,
deposit any of its Subject Shares in a voting trust or subject any of its Subject Shares to any arrangement with respect to the
voting of such Subject Shares other than as provided herein.

 

ARTICLE
IV

 

REPRESENTATIONS
AND WARRANTIES OF STOCKHOLDER

 

The Stockholder hereby
represents and warrants to Purchaser as follows:

 

Section
4.1     Due Authorization, etc. Such Stockholder is an entity duly organized, validly existing and in good standing
under the Laws of its State of organization. Such Stockholder has all necessary power and authority to execute and deliver this
Agreement and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation
of the transactions contemplated hereby by such Stockholder have been duly authorized by all necessary action on the part of such
Stockholder and no other proceedings on the part of such Stockholder are necessary to authorize this Agreement, or to consummate
the transactions contemplated hereby. This Agreement has been duly executed and delivered by such Stockholder and (assuming the
due authorization, execution and delivery by Purchaser) constitutes a valid and binding obligation of such Stockholder, enforceable
against such Stockholder in accordance with its terms, except to the extent enforcement is limited by the General Enforceability
Exceptions.

 

Section
4.2     Ownership of Shares. Schedule I hereto sets forth opposite such Stockholder’s name the Common
Shares over which such Stockholder has record and beneficial ownership as of the date hereof. As of the date hereof, such Stockholder
is the lawful owner of the Common Shares denoted as being owned by such Stockholder on Schedule I hereto, has the sole power
to vote or cause to be voted such Common Shares and the sole power to dispose of or cause to be disposed such Common Shares. Such
Stockholder has good and valid title to the Common Shares denoted as being owned by such Stockholder on Schedule I hereto.

 

Section
4.3     No Conflicts. Except as contemplated by the Purchase Agreement and for the applicable requirements of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), (a) no filing with any Governmental Entity
is necessary for the execution of this Agreement by such Stockholder and (b) none of the execution and delivery of this Agreement
by such Stockholder, the consummation by such Stockholder of the transactions contemplated hereby or compliance by such Stockholder
with any of the provisions hereof shall (i) conflict with or result in any breach of any of the organizational documents of such
Stockholder, (ii) result in, or give rise to, a violation or breach of or a default under any of the terms of any Contract to which
such Stockholder is a party or by which such Stockholder or any of the Subject Shares or its assets may be bound, or (iii) violate
any Law, except for any of the foregoing as would not reasonably be expected to impair such Stockholder’s ability to perform
any of its obligations under this Agreement.

 

    	 	- 5 -	 

     

    

 

Section
4.4     Finder’s Fees. No investment banker, broker, finder or other intermediary is entitled to a fee or commission
from Purchaser or the Company in respect of this Agreement based upon any Contract made by or on behalf of such Stockholder, solely
in such Stockholder’s capacity as a stockholder of the Company.

 

Section
4.5     No Litigation. As of the date of this Agreement, there is no Action pending or, to the knowledge of such Stockholder,
threatened against such Stockholder that would reasonably be expected to impair the ability of such Stockholder to perform its
obligations hereunder or consummate the transactions contemplated hereby.

 

ARTICLE
V

 

REPRESENTATIONS
AND WARRANTIES OF Purchaser

 

Purchaser hereby represents and
warrants to the Stockholder as follows:

 

Section
5.1     Due Organization, etc. Purchaser is a corporation duly organized, validly existing and in good standing under
the Laws of the State of Delaware. Purchaser has all necessary corporate power and authority to execute and deliver this Agreement
and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation of the
transactions contemplated hereby by Purchaser have been duly authorized by all necessary action on the part of Purchaser and no
other proceedings on the part of Purchaser are necessary to authorize this Agreement, or to consummate the transactions contemplated
hereby. This Agreement has been duly executed and delivered by Purchaser and (assuming the due authorization, execution and delivery
by each of the Stockholder Parties) constitutes a valid and binding obligation of Purchaser, enforceable against Purchaser in accordance
with its terms, except to the extent enforcement is limited by the General Enforceability Exceptions.

 

Section
5.2     No Conflicts. Except as contemplated by the Purchase Agreement and for the applicable requirements of the
Exchange Act, (a) no filing with any Governmental Entity, and no authorization, consent or approval of any other person is necessary
for the execution of this Agreement by Purchaser and (b) none of the execution and delivery of this Agreement by Purchaser, the
consummation by Purchaser of the transactions contemplated hereby or compliance by Purchaser with any of the provisions hereof
shall (i) conflict with or result in any breach of the organizational documents of Purchaser, (ii) result in, or give rise to,
a violation or breach of or a default under any of the terms of any Contract to which Purchaser is a party or by which Purchaser
or any of its assets may be bound or (iii) violate any Law, except for any of the foregoing as would not reasonably be expected
to impair Purchaser’s ability to perform its obligations under this Agreement.

 

    	 	- 6 -	 

     

    

 

ARTICLE
VI

 

TERMINATION

 

Section
6.1     Termination. This Agreement shall automatically terminate, and neither Purchaser nor the Stockholder shall
have any rights or obligations hereunder and this Agreement shall become null and void and have no effect upon the earliest to
occur of: (a) the mutual written consent of Purchaser and the Stockholder; (b) the Second Closing; or (c) the termination of the
Purchase Agreement in accordance with its terms. The parties acknowledge that upon termination of this Agreement as permitted under
and in accordance with the terms of this Article VI, no party to this Agreement shall have the right to recover any claim
with respect to any losses suffered by such party in connection with such termination, except that, subject to Section 7.11,
the termination of this Agreement shall not relieve either party to this Agreement from liability for such party’s intentional
breach of any terms of this Agreement. Notwithstanding anything to the contrary herein, the provisions of this Article VI
and Article VII shall survive the termination of this Agreement. Notwithstanding anything contained herein to the contrary,
nothing in this Agreement shall be deemed to constitute a waiver, modification or amendment to any rights or remedies any party
may have under the Purchase Agreement.

 

ARTICLE
VII

 

MISCELLANEOUS

 

Section
7.1     Further Actions. Subject to the terms and conditions set forth in this
Agreement, the Stockholder agrees to take any and all actions and to do all things reasonably
necessary or appropriate to effectuate this Agreement.

 

Section
7.2     Fees and Expenses. Except as otherwise specifically provided herein or in the Purchase Agreement, each party
shall bear its own expenses in connection with this Agreement and the transactions contemplated hereby.

 

Section
7.3     Amendments, Waivers, etc. This Agreement may not be amended except
by an instrument in writing signed by the parties hereto and specifically referencing this Agreement. At any time during the Voting
Period, any party hereto may (a) for the benefit of the other parties hereto extend the time for the performance of any of the
obligations or other acts of the other parties hereto, (b) waive any inaccuracies in the representations and warranties contained
herein or in any document delivered pursuant hereto, and (c) subject to the requirements of applicable Law, waive compliance with
any of the agreements or conditions contained herein. Any such extension or waiver shall be valid if set forth in an instrument
in writing signed by the party or parties to be bound thereby and specifically referencing this Agreement. The failure of any party
to assert any rights or remedies shall not constitute a waiver of such rights or remedies.

 

Section
7.4     Notices. All notices and other communications hereunder shall be in writing and shall be deemed given if delivered
personally, sent via electronic mail (with confirmation), mailed by registered or certified mail (return receipt requested) or
delivered by an express courier (with confirmation) to the Parties at the following addresses (or at such other address for a party
as may be specified by like notice):

 

    	 	- 7 -	 

     

    

 

If to Purchaser, to:

 

Innoviva, Inc.

1350 Old Bayshore Highway Suite 400

Burlingame, CA 94010

Attention: Chief Executive Officer

Email: Geoffrey.hulme@inva.com

 

with a copy (which shall not constitute notice)
to:

Willkie Farr & Gallagher LLP

787 Seventh Avenue

New York, New York 10019

Attn: Russell Leaf

          Jared Fertman

Tel: (212) 728-8593

        (212) 728-8670

Email: rleaf@willkie.com

           jfertman@willkie.com

 

If to Stockholder: At the address set forth
next to the name of Stockholder on the signature pages hereto.

 

Section
7.5     Headings. The headings contained in this Agreement are for reference purposes only and shall not affect in
any way the meaning or interpretation of this Agreement..

 

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

 

Section
7.7     Entire Agreement; Assignment. This Agreement constitutes the entire agreement, and supersedes all other prior
agreements and understandings, both written and oral, between the parties, or any of them, with respect to the subject matter hereof.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto
(whether by operation of law or otherwise) without the prior written consent of the other parties, except that without consent,
Purchaser may assign all or any of its rights and obligations hereunder to any of its Subsidiaries or Affiliates that assume the
rights and obligations of Purchaser under the Purchase Agreement. Subject to the preceding two sentences, this Agreement will be
binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns.
Notwithstanding anything to the contrary set forth herein, each Stockholder agrees that this Agreement and the obligations hereunder
shall be binding upon any Person to which record or beneficial ownership of such Stockholder’s Subject Shares shall pass,
whether by operation or law or otherwise, including such Stockholder’s heirs, guardians, administrators or successors and
assigns, and each Stockholder agrees to take all commercially actions necessary to effect the foregoing.

 

    	 	- 8 -	 

     

    

 

Section
7.8     Parties in Interest. This Agreement shall be binding upon and inure solely to the benefit of each party hereto,
and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any rights, benefits or
remedies of any nature whatsoever under or by reason of this Agreement, including the right to rely upon the representations and
warranties set forth herein. The representations and warranties in this Agreement are the product of negotiations among the parties
hereto and are for the sole benefit of the parties hereto. Notwithstanding the foregoing, the Company shall be an express third
party beneficiary solely of the provisions of Section 3.4 hereof. Any inaccuracies in such representations and warranties
are subject to waiver by the parties hereto in accordance with Section 7.3 without notice or liability to any other person.
In some instances, the representations and warranties in this Agreement may represent an allocation among the parties hereto of
risks associated with particular matters regardless of the knowledge of any of the parties hereto. Consequently, Persons other
than the parties hereto may not rely upon the representations and warranties in this Agreement as characterizations of actual facts
or circumstances as of the date of this Agreement or as of any other date (except the Company solely with respect to Section
3.4 hereof).

 

Section
7.9     Interpretation. When a reference is made in this Agreement to an Article or Section, such reference shall
be to an Article or Section of this Agreement unless otherwise indicated. Whenever the words “include,” “includes”
or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”
The words “hereof,” “herein” and “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. All terms defined in
this Agreement shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto
unless otherwise defined therein. The definitions contained in this Agreement are applicable to the singular as well as the plural
forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. Any agreement, instrument
or statute defined or referred to herein or in any agreement or instrument that is referred to herein means such agreement, instrument
or statute as from time to time amended, modified or supplemented in accordance with the terms hereof, including (in the case of
agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and
references to all attachments thereto and instruments incorporated therein. References to a Person are also to its permitted successors
and assigns. Each of the parties has participated in the drafting and negotiation of this Agreement. If an ambiguity or question
of intent or interpretation arises, this Agreement must be construed as if drafted by all the parties and no presumption or burden
of proof shall arise favoring or disfavoring any party by virtue of authorship of any of the provisions of this Agreement. This
Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party
drafting or causing any instrument to be drafted.

 

    	 	- 9 -	 

     

    

 

Section
7.10     Governing Law. THIS AGREEMENT AND ALL QUESTIONS RELATING TO THE INTERPRETATION OR ENFORCEMENT OF THIS AGREEMENT
SHALL BE DEEMED TO BE MADE IN AND IN ALL RESPECTS SHALL BE INTERPRETED, CONSTRUED AND GOVERNED BY AND IN ACCORDANCE WITH THE LAW
OF THE STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF TO THE EXTENT THAT SUCH PRINCIPLES WOULD DIRECT
A MATTER TO ANOTHER JURISDICTION.

 

Section
7.11     Specific Performance. Each Stockholder acknowledges that any breach of
this Agreement would give rise to irreparable harm for which monetary damages would not be an adequate remedy and each of the Company
and Purchaser shall be entitled to a decree of specific performance and to temporary, preliminary and permanent injunctive relief
to prevent breaches or threatened breaches of any of the provisions of this Agreement, without the necessity of proving the inadequacy
of monetary damages as a remedy, which shall be the sole and exclusive remedy for any such breach. Notwithstanding anything contained
herein to the contrary, nothing in this Agreement shall be deemed to constitute a waiver, modification or amendment to any rights
or remedies any party may have under the Purchase Agreement.

 

Section
7.12     Submission to Jurisdiction. The parties hereby irrevocably submit to the exclusive personal jurisdiction
of the Court of Chancery of the State of Delaware, or, if the Chancery Court declines jurisdiction, the United States District
Court for the District of Delaware or the courts of the State of Delaware solely in respect of the interpretation and enforcement
of the provisions of this Agreement and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for
the interpretation or enforcement hereof, that it is not subject thereto or that such action, suit or proceeding may not be brought
or is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement may not be enforced
in or by such courts, and the parties hereto irrevocably agree that all claims relating to such action, suit or proceeding shall
be heard and determined in such courts. The parties hereby consent to and grant any such court jurisdiction over the person of
such parties and, to the extent permitted by law, over the subject matter of such dispute and agree that mailing of process or
other papers in connection with any such action or proceeding in the manner provided in Section 7.4 or in such other manner
as may be permitted by Law shall be valid and sufficient service thereof.

 

Section
7.13     Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS
AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER,
(iii) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (iv) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.13.

 

    	 	- 10 -	 

     

    

 

Section
7.14     Counterparts. This Agreement may be executed in two or more counterparts (including by facsimile transmission
or other means of electronic transmission, such as by electronic mail in “pdf” form), each of which shall be an original,
with the same effect as if the signatures thereto and hereto were upon the same instrument, and shall become effective when one
or more counterparts have been signed by each of the parties and delivered (by facsimile or otherwise) to the other parties.

 

Section
7.15     Relationship of the Parties. This Agreement has been negotiated on an arm’s length basis between the
parties and is not intended to create a partnership, joint venture or agency relationship between the parties.

 

[signature page follows]

 

    	 	- 11 -	 

     

    

 

 

IN WITNESS WHEREOF, Purchaser and the Stockholder
have caused this Agreement to be duly executed as of the day and year first above written.

 

 

	 	INNOVIVA, INC.
	 	 	 
	 	 	 
	 	By:	     	 
	 	 	Name: 
	 	 	Title: 

 

 

 

 

 

 

[Signature
Page to Voting Agreement]

     

     

    

 

	 	[STOCKHOLDER]
	 	 	 
	 	 	 
	 	By:	     	 
	 	Name: 
	 	Title: 

 

 

 

 

 

 

 

 

 

[Signature
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Schedule I

Ownership of Common Shares

 

 

	Name and Address of Stockholder	Number of Common Shares 
	 	 
	Total:EX-10.33

   
  
  
  
 MOBILE APPLICATION DEVELOPMENT AGREEMENT 
  
  
  
  
 (Agreement No: VAL/MAD/PVTINV/DC/190305/1)
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 EDT (Electronic document transmissions)
  
 EDT (Electronic document transmissions) shall be deemed valid and enforceable in respect of any provisions of this Contract. As applicable, this agreement shall be:-
 1-Incorporate U.S. Public Law 106-229, ‘‘Electronic Signatures in Global and National Commerce Act’’ or such other applicable law conforming to the UNCITRAL Model Law on Electronic Signatures (2001) and 
 2-ELECTRONIC COMMERCE AGREEMENT (ECE/TRADE/257, Geneva, May 2000) adopted by the United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT). 
 3-EDT documents shall be subject to European Community Directive No. 95/46/EEC, as applicable. Either Party may request hard copy of any document that has been previously transmitted by electronic means provided however, that any such request shall in no manner delay the parties from performing their respective obligations and duties under EDT instruments. 
 
 PRIVATE & CONFIDENTIAL
 
  
Mobile Application Development Agreement
 Agreement No: VAL/MAD/PVTINV/DC/190305/1
 
 Mobile Application Development Agreement
  
  
 This Mobile Application Development Agreement (the “Agreement”) is made and effective from 5th Day of March, 2019
  
 BETWEEN:
  
 VGrab Asia Ltd. (hereinafter called as the “VAL”), located at Room E, 6th Floor, Eastern Commercial Center, 397 Hennessy Road, Hong Kong.
  
 AND:
  
 Mr. Zheng Qing, Mr. Gu Xianwin and Ms. Chen Weijie (hereinafter called as the "Developer"), a group of private software developers individuals’ lead and coordinated by Ms. Chen Weijie with its operations in P.R.China.
  
 And hereinafter, the parties hereto shall be referred to as “Party” or “Parties”.
  
  
 RECITALS
  
 Whereas, VAL wishes to engage the Developer for services as an independent contractor for the sole purpose of designing the Duesey Coffee Chinese Mobile Apps and backend software contained for iPhone, iPad, Android (Hereinafter called as the “Project”) developed as per the requirements specifications by VAL within this mobile application development agreement 
  
 Whereas, the “Developer” is engaged in the making of such applications and holds all the necessary tools to obtain the needed results of this Project for VAL.
  
  
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties hereto, intending, to be legally bound, agree as follows:
  
  
 1.SCOPE OF WORK 
  
 The high level scope of work is the development of the Project on the requirements specifications as per Clause 6. Creative designs and graphics development is covered in the scope of work of this Agreement; Developer may recommend or create their own designs for the betterment of the App.
  
 2.COMMENCEMENT DATE 
  
 This Agreement shall commence on 5th March 2019
  
  
 3.AGREEMENT PERIOD 
  
 This Agreement will be for the maximum period of six (6) months beginning for the commencement date, renewable in accordance with the terms hereof, unless earlier terminated pursuant to this Agreement.
 
 Page 1 of 7
 
  
Mobile Application Development Agreement
 Agreement No: VAL/MAD/PVTINV/DC/190305/1
 
 4.ESTIMATION AND COMMERCIALS 
  
 	 Platform
	 iOS, Android

	 Development
	 Chinese WeChat’s Online Store, Social Media, Website, Online Promotion/Marketing and Online Payment for the P.R.China market.

	 Total Delivery Time
	 Min - 4 Calendar Months, Max - 6 Calendar Months

	 Quotation (In USD)
	 $ 200,000.00

  
 Notes:
 -Payments for this Agreement will be transferred by VAL via Bank Wire Transfer Method in US Dollars Currency as per Clause 5. 
  
  
 5.PAYMENT TERMS 
  
 All Parties agreed the payment listed below are fair and just for the services being provided. Payment to the following individual below within 7 days upon completion and handover on the Project to VAL.
  
 	 No.
	 Name
	 Function
	 Amount

	 1.
	 Ms. Chen Weijie
	 Coordinator/Lead Developer
	 USD100,000.00

	 2. 
	 Mr. Zheng Qing
	 Developer
	 USD50,000.00

	 3.
	 Mr. Gu Xianwin
	 Developer
	 USD50,000.00

  
  
 6.ENGAGEMENT PROCESS & MILESTONE 
  
 The Engagement Process and Milestone corresponding for this Fixed Price Project Agreement are as follows:
  
 6.1Graphic Design/ UI/ Creative Design/ multimedia  
 The VAL is responsible for, and will supply any graphics/ design/ artwork/ multimedia (sound/ video) required for the project to the Developer at either the beginning of the project, or partially during the development. Developer will however put its recommendations; assist in graphic creation for the betterment of the App.
  
 6.2Collaboration, coordination  
 A status update on the progress of the work will be shared with VAL by the lead on milestones basis formally by developer, and informally on weekly/ fortnight/ or as and when required basis. Weekly status calls will also happen to discuss and review the work in progress. 
  
 6.3WeChat’s Official Account Setup 
 Developer will register a WeChat Official Account on behalf of VAL, which has access to all advanced APIs for the development of WeChat Online Duesey Coffee Store in P.R.China.
  
 6.4WeChat’s Official Social Media and Moments Setup 
 Developer will develop and registered a Duesey Coffee Social Media Platform within the WeChat Official Account on behalf of VAL.
  
 6.5WeChat’s Mini Program and WeChat Pay Compliance 
 
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Mobile Application Development Agreement
 Agreement No: VAL/MAD/PVTINV/DC/190305/1
 
 Developer will develop the Duesey Coffee Mini Program which incorporates the website, products storefront, inventory, ordering systems and payment system. Developer shall ensure the app is technically compliant to WeChat’s App guidelines, and VAL’s business compliance. Being Developer of the project, Developer will be responsible and liable for the product’s business compliance with WeChat Mini Program and Payment guidelines.
  
 6.6Simple tabular representation of the Milestone’s definition schedule as per the points mentioned above: 
  
 	 No
	 Definition
	 Timeline

	 1
	 ·Setup WeChat Official Account for Duesey Coffee 
 ·App design and Architecture completed. 
 ·Backend API partially done. 
 ·Front end Apps Alpha release initiated. 
 ·Sent for test/ review by VAL 
  
	 6 weeks upon signing of Agreement

	 2
	 ·WeChat Store Front and Backend development 
 ·Social Medial and WeChat Moments  Front and Backend development 
 ·Backend API fully done. 
 ·Front end Apps Alpha release completed. 
 ·Sent for test/ review by VAL. 
 ·Previously reported bugs fixed. 
  
	 Week 7 - 13

	 3
	 ·Bugs or feedback escaped in Alpha release fixed. 
 ·Front end Apps beta release completed. 
 ·Sent for test/ review by VAL 
 ·Live run of Duesey Coffee Apps in WeChat  
  
	 Week 14 - 18

	 4
	 ·All Apps fully completed. 
 ·Sent for test/ review by VAL. 
 ·All bugs or feedback resolved and incorporated. 
 ·Submission to the stores if all tests are passed. 
  
	 Week 19 - 21

	 5
	 ·Bug Fixing Warranty Time. 
 ·If any bug is reported then it will be resolved on priority. 
  
	 Week 22 - 23

	 6
	 ·Live and Handover Project  to VAL 
	 Week 24

	  
	 100 % Completed

  
  
 7.CHANGE ORDERS 
  
 Definition of Change Order: 
 Any change or modification in functionality or feature or UI of the App required by VAL which is beyond agreed functional requirements considered in this Agreement will be considered as a “Change” in the original specifications, and that shall be agree by Developer to VAL or vice versa as a “Change Order” in writing. 
 
 Page 3 of 7
 
  
Mobile Application Development Agreement
 Agreement No: VAL/MAD/PVTINV/DC/190305/1
 
 Change Orders do not however cover any bug or glitch fixing produced out of the code written by Developer as any “bug” will be fixed by Developer for free up to 3 months after final delivery (Bug Fixing Warranty).
  
  
 8.SCOPE OF DELIVERABLES 
  
 	  
 No.
  
	 Deliverable Name
	 Scope

	 1.
	 Duesey Coffee WeChat Functionality Development
	 WeChat Mobile App functionality to be developed across both platforms, API development.

	 2. 
	 Functional requirements & UI/ Multimedia, backend access.
	 VAL will supply products, logo, pricing and final design approval, multimedia, CMS access.

	 3.
	 Application package
	 App package to be shared with the VAL for testing and review.

	 4.
	 WeChat Official Account upload
	 Apps to be uploaded in WeChat for public viewing and downloading.

  
  
 9.DEVELOPMENT TECHNOLOGIES & TARGET DEVICES AND OS 
  
 The proposed technologies are as follows:
 Development Technologies: iOS SDK, Android, app.json, PHP 
 Target Device and OS:iPhone and iPad running OS versions 5 to 8; Android devices running 3.0 and above. 
 10.ASSUMPTIONS AND DEPENDENCIES 
 ·The development and unit testing of the products will be done online for actual live functionality. 
  
 ·The Developer shall on own cost use its credentials of its WeChat Developer Account to develop this Project for VAL. 
  
  
 11.INTELLECTUAL PROPERTY RIGHTS AND OWNERSHIP 
  
 11.1All Intellectual Property during the project is owned by VAL, and will be turned over to VAL at the conclusion of the project by Developer and after the fulfillment of all commercial obligations by the VAL. 
  
 11.2.All rights and title to Duesey Coffee Intellectual Property created pursuant to the Project shall belong to VAL and shall be subject to the terms and conditions of this Agreement. 
  
  
  
 
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Mobile Application Development Agreement
 Agreement No: VAL/MAD/PVTINV/DC/190305/1
 
 12.CONFIDENTIALITY  
  
 12.1 Any information, data and/or contents of documents made available by a party hereto to the other for the purposes of this Agreement hereby contemplated shall not, without the prior written consent of such party, be disclosed to any person, firm or corporation (and to only such extent for) the implementation of the Agreement. Such information, data and/or contents of documents may be disclosed to officers, employees, auditors, solicitors and other professional advisors of this Agreement but only to the extent required in each instance for the implementation of the Agreement hereby contemplated. 
  
 12.2 Each party hereto hereby undertakes with the other party hereto, and to the intent that such undertaking shall have full force and effect notwithstanding that such party shall cease to participate in the Agreement, that it will not, without the prior written consent of the other party hereto, divulge to any person, firm or corporation, any information on technical, economic, financial and marketing matters and any material, data and/or contents of documents received by such party hereto from the other party hereto relating to the Agreement except where (but only to the extent that) disclosure is required by law and will ensure that its employees and agents shall at all times observe this clause. 
  
  
 13.TERMINATION 
  
 VAL shall, in the event of Developer committing any breach of any of the terms and conditions of this agreement or for any other reason considered as sufficient, be entitled to terminate this agreement by giving two (2) weeks’ notice in writing and it is applicable only when the project is not completed. If the customer terminates the agreement, then VAL shall compensate the Developer up to the date of termination with a fee calculated on Pro-rata basis. Developer may also terminate this Agreement by giving two (2) weeks’ notice in writing to VAL. It is applicable only when the project is not completed. In case Developer terminates the agreement, it shall handover the entire project related IPR, work done till date to VAL.
  
  
 14.TERM OF AGREEMENT  
  
 This Agreement commences on the date it is executed and shall continue until full performance by both parties, or until earlier terminated by one party under the terms of this Agreement.
  
  
 15.ENTIRE AGREEMENT AND GOVERNING LAW AND JURISDICTION 
  
 This agreement supersedes all oral and written representations and agreements between the parties including, but not limited to any earlier agreement relating to the subject matter thereof.
  
 This agreement shall be construed, interpreted and governed by and in accordance with the laws of Hong Kong. In case the arbitration proceedings fail, an unresolved dispute between Developer and VAL is subject to the binding laws of Hong Kong as a first attempt at formal resolution.  Should arbitration fail to reach a resolution and either party wish to pursue the dispute further, this shall be conducted within the binding laws of Hong Kong.
  
  
 16.LANGUAGE 
  
 The English language shall be the medium used in all correspondence and legally binding tender.
 
 Page 5 of 7
 
  
Mobile Application Development Agreement
 Agreement No: VAL/MAD/PVTINV/DC/190305/1
 
 17.NOTICE 
  
 Any notice or other communication required or permitted to be given between the parties under this agreement shall be given in writing at the following address or such other addresses may be intimated from time to time:-
  
 For VAL
 Kind Attn: Mr. Charles Liong, CFO
 Located at Room E, 6th Floor, Eastern Commercial Center, 397 Hennessy Road, Hong Kong.
  
 For Developer
 Kind Attn: Ms. Chen Weijie, Coordinator/Lead Developer
 No 12-12-1, City Gardens Condo, Persiaran Raja Chulan, 50200 Kuala Lumpur, Malaysia
  
  
 18.ENTIRE AGREEMENT AND AMENDMENTS 
  
 18.1 Save insofar as the terms herein contained are supplemented by the articles of association of the Cooperation, this Agreement represents the complete and entire understanding between the parties to the exclusion of all agreements to the contrary, whether oral or written, made prior to the date hereof. 
  
 18.2 Any modification, amendment or alteration of this Agreement shall be made only with the written consent duty signed by all parties and shall be effective from the date of the revision or such other date as may be agreed upon between the parties. 
  
  
 19.EFFECT OF HEADINGS 
  
 The headings of the Clauses hereof have been inserted for convenience only and shall not affect the interpretation of the provisions of this Agreement.
  
  
 20.BINDING EFFECT 
 This Agreement shall be binding on the successors in title and permitted assigns of the parties hereto.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
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Mobile Application Development Agreement
 Agreement No: VAL/MAD/PVTINV/DC/190305/1
 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first above written.
  
 Represented legally by
 For and on behalf of VGRAB ASIA LTD.
 Represented by:
  
 /s/ Liong Fook Weng
 Liong Fook Weng (Charles)
 Executive Director/Chief Financial Officer
  
  
 Represented legally by 
 DEVELOPER
  
  
  
 	 /s/ Chen Weijie
	  
	 /s/ Zheng Qing

	 Chen Weijie
	  
	 Zheng Qing

	 Passport No: [REDACTED]
	  
	 Passport No: [REDACTED]

	  
	  
	  

	  
	  
	  

	  
	  
	  

	 /s/ Gu Xianwin
	  
	  

	 Gu Xianwin
	  
	  

	 Passport No: [REDACTED]
	  
	  

  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
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