Document:

EX-10.8

 Exhibit 10.8 

FIRST AMENDMENT TO LICENSE AGREEMENT 

This FIRST AMENDMENT (“Amendment”) to license agreement is effective as of March 9, 2009 and is made by and between Shalon
Ventures, Inc., a California corporation (“SV”) and AirXpanders, Inc., a Delaware corporation (“Licensee”). 

RECITALS 
 WHEREAS,
Licensee was incorporated in Delaware on March 17, 2005 under the name “Expanders, Inc.”, and subsequently changed its name from “Expanders, Inc.” to “AirXpanders, Inc.” on December 28, 2006. 

WHEREAS, SV entered into the LICENSE AGREEMENT (“License Agreement”) with the Licensee on March 9. 2005. eight (8) days
prior to the Licensee’s incorporation in Delaware. 
 WHEREAS, both SV and Licensee intended to enter into the License Agreement and be
bound by its terms and conditions, both SV and Licensee have abided by the terms and conditions of the License Agreement since March 2005 and both SV and Licensee intend to continue to be bound by the terms and conditions of the License Agreement.

 WHEREAS, SV and Licensee desire to amend the License Agreement to (i) reconfirm that SV and the Company are, and always have been,
the correct parties to the License Agreement, (ii) alter patent prosecution rights and costs described in Section 5.2 and 4.1.2 of the License Agreement, and (iii) alter the rights of SV to terminate for insolvency as described in
Section 9.3 of the License Agreement. 
 NOW THEREFORE, in consideration of the premises and of the covenants contained herein, SV and
Licensee herby agree that SV and Licensee have been bound as the correct parties to the License Agreement since March 17, 2005, and will continue to be bound by the terms and conditions of the License Agreement until the termination of the
License Agreement, and further agree to additional changes in the terms of the License Agreement as follows: 
 ARTICLE 4. PAYMENTS,
REPORTS, RECORDS 
 A. Section 4.1.2 shall be stricken in its entirety. 

ARTICLE 5. INTELLECTUAL PROPERTY OWNERSHIP AND PROTECTION 

A. Section 5.2 shall be stricken in its entirety and replaced with the following: 

5.2 Patent Prosecution: Licensee shall, at Licensee’s expense, have the first right, but not the obligation, on its own or through
its designee, to prepare, file, 

  
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prosecute, and maintain (collectively, “Prosecute”) the Licensed Patent Rights. In the event that Licensee desires to abandon any Licensed Patent Right that is necessary or
useful for developing, making, having made, using, offering for sale, selling, having sold, importing or exporting Products in an Application Area or to decline responsibility for the Prosecution of any such Licensed Patent Right, Licensee shall
provide SV with sufficient written notice of such desired abandonment or declination of responsibility so that SV shall have the opportunity to assume responsibility for the preparation, filing, prosecution or maintenance of such Licensed Patent
Right without the loss of any rights therein. 
 ARTICLE 9. TERM AND TERMINATION 

 

	 	A.	Section 9.3 shall be stricken in its entirety and replaced with the following: 

 9.3
Termination for Insolvency: Licensee may terminate this Agreement if SV becomes insolvent, has a petition in bankruptcy filed against it, which is consented to, acquiesced in or remains undismissed for ninety (90) days, makes a general
assignment for the benefit of creditors, or has a receiver appointed. Notwithstanding Licensee’s right to terminate this Agreement under this Section 9.3, both Parties shall have all legal and equitable remedies available to enforce the
terms and conditions of this Agreement. 
 All other terms of the License Agreement shall remain in full force and effect. 

  
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 IN WITNESS HEREOF, the parties have caused this Amendment to be executed by their duly authorized
officers as of the Effective Date. 
  

			
	SHALON VENTURES, INC.
		
	By:	 	  

	Name:	 	Tadmor Shalon
	Title:	 	CEO
	
	AIRXPANDERS, INC.
		
	By:	 	 

  

	 Chris Jones

	Title:	 	President

  
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 IN WITNESS HEREOF, the parties have caused this Amendment to be executed by their duly authorized
officers as of the Effective Date. 
  

			
	SHALON VENTURES, INC.
		
	By:	 	 

  

	Name:	 	Tadmor Shalon
	Title:	 	CEO
	
	AIRXPANDERS, INC.
		
	By:	 	  

	 Chris Jones 

	Title:	 	President

  
 3EX-10.9

 Exhibit 10.9 

SECOND AMENDMENT TO LICENSE AGREEMENT 

This SECOND AMENDMENT (“Amendment”) to license agreement is effective as of January 9, 2012 (the “Amendment
Effective Date”) and is made by and between Shalon Ventures, Inc., a California corporation (“SV”) and AirXpanders, Inc., a Delaware corporation (“Licensee”). 

RECITALS 
 WHEREAS,
SV and Licensee are parties to a certain license agreement, effective as of March 9, 2005, as amended on March 9, 2009 (collectively, the “Agreement”). 

WHEREAS, SV and Licensee desire to amend the Agreement to provide Licensee with the first right to enforce the Licensed Patent Rights against
potential infringers. 
 WHEREAS, SV and Licensee desire to amend the Agreement to clarify the meaning of the Licensed Patent Rights. 

NOW THEREFORE, in consideration of the premises and of the covenants contained herein, SV and Licensee agree as follows: 

1. AMENDMENTS OF THE AGREEMENT. 

1.1 Section 5.3.2 of the Agreement is hereby deleted and replaced in its entirety with the following: 

5.3.2 Enforcement of the Licensed Patent Rights. Licensee or its designee shall have the first right, but not the obligation,
under its own or its designee’s control and at its own or its designee’s expense, to bring an enforcement action against any alleged Third Party infringement of the Licensed Patent Rights and/or to defend the Licensed Patent Rights in any
declaratory judgment action brought by a Third Party which alleges invalidity, unenforceability, or non-infringement of the Licensed Patent Rights. Upon request of the Licensee, SV shall cooperate with
Licensee in connection with such enforcement and/or defense and permit Licensee to prosecute such action, at Licensee’s expense, including, without limitation, being a named party if required to bring or maintain such action. If Licensee or its
designee recovers any damages, by way of settlement or otherwise, in connection with such prosecution or defense, such recovery shall be retained by Licensee or its designee. Should Licensee and its designee elect not to bring any such enforcement
action, defend any such declaratory judgment action or engage in sublicense negotiations with an alleged infringer within one hundred eighty (180) days after Licensee being notified of such infringement or action by SV, then SV or its designee
shall have the right to do so under its own control and at its own expense. Upon request of SV, Licensee shall cooperate with SV in connection with such enforcement, at SV’s expense. If SV or its designee recovers any damages, by way of
settlement or otherwise, in connection with such prosecution or defense, such recovery shall be retained by SV. 

 1.2 Section 1.5 of the Agreement is hereby deleted and replaced in its entirety with the
following: 
 1.5 “Licensed Patent Rights” shall mean the Patent Rights listed on Exhibit A hereto and all patents
and patent applications claiming priority to such patents and patent applications, including all extensions, registrations, confirmations, reissues, divisions, continuations,
continuations-in-part, reexaminations and renewals thereof, and any foreign filings corresponding to any of the foregoing and all patents issuing from any of the
foregoing, as may be amended from time to time. 
 1.3 Exhibit A of the Agreement is hereby deleted and replaced in its entirety with
the following: 
 EXHIBIT A 

Licensed Patent Rights 
  

									
	 Country
	  	 App. No.
	  	 Filing Date
	  	 Pub. No.
	  	 Pub.

Date

	U.S.	  	60/612,018	  	9/21/2004	  		  	
	U.S.	  	60/688,964	  	6/9/2005	  		  	
	U.S.	  	11/231,482	  	9/21/2005	  	2006-0069403-A1	  	3/30/2006
	WIPO	  	US2005/033664	  	9/21/05	  	W02006/034273	  	3/30/06
	U.S.	  	12/560,160	  	9/15/2009	  	2010-0010531-A1	  	1/14/2010
	U.S.	  	61/288,197	  	12/18/2009	  		  	
	U.S.	  	12/973,693	  	12/20/2010	  	2011-0152913-A1	  	6/23/2011
	WIPO	  	US2010/061340	  	12/20/2010	  	WO 2011/075731	  	6/23/2011
	Australia	  	2005286840	  	9/21/2005	  		  	
	Canada	  	2,581,320	  	9/21/2005	  		  	
	Europe	  	5798758.8	  	9/21/2005	  	1811914	  	8/1/2007
	Japan	  	2007-533585	  	9/21/2005	  	2008-513182	  	5/1/2008
	U.S.	  	13/313,904	  	12/7/2011	  		  	
	U.S.	  	13/313,919	  	12/7/2011	  		  	

  
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 2. MISCELLANEOUS 

2.1 Full Force and Effect. This Amendment amends the terms of the Agreement and is deemed incorporated into the Agreement, effective as
of the Amendment Effective Date. Where the Agreement is not explicitly amended, the terms of the Agreement will remain in full forth and effect. Capitalized terms used in this Amendment that are not otherwise defined herein shall have the meanings
such terms are given in the Agreement. 
 2.2 Entire Agreement. The Agreement and this Amendment constitute the entire agreement,
both written and oral, between the parties with respect to the subject matter hereof, and any and all prior agreements with respect to the subject matter hereof, either written or oral, expressed or implied, are superseded hereby, merged and
canceled, and are null and void and of no effect. 
 2.3 Counterparts. This Amendment may be executed in one or more counterparts,
each of which will be an original and all of which together will constitute one instrument. 

  
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 IN WITNESS WHEREOF, SV and Licensee have
executed this Amendment by their respective duly authorized representatives as of the Amendment Effective Date. 
  

					
	SHALON VENTURES, INC.
		
	By:	 	

		 	  

 
					
		 	Name:	 	T. Shalon
		 	Title:	 	CEO

 
					
	
	AirXpanders, Inc.
		
	By:	 	 

		 	  

 
					
		 	Name:	 	Scott Dodson
		 	Title:	 	President / CEO

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