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Document

Exhibit 4.1

AMENDMENT NO. 2 dated as of October 19, 2020 (this “Amendment”), to the SECOND AMENDED AND RESTATED CREDIT AGREEMENT dated as of January 5, 2018 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”; capitalized terms used and not defined herein shall have the meanings assigned to such terms in the Credit Agreement), among ITRON, INC., a Washington corporation (the “Company”), the FOREIGN BORROWERS and GUARANTORS party thereto, the LENDERS and ISSUING LENDERS party thereto and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Wells Fargo”), as Administrative Agent (in such capacity, the “Administrative Agent”).
WHEREAS, pursuant to the Credit Agreement, the Lenders and the Issuing Lenders have agreed to extend credit to the Borrower on the terms and subject to the conditions set forth therein; and
WHEREAS, the Company has requested that certain provisions of the Credit Agreement be amended as set forth herein; and
WHEREAS, the undersigned Lenders are willing to amend such provisions of the Credit Agreement, in each case on the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, and subject to the conditions set forth herein, the parties hereto hereby agree as follows:
SECTION 1.  Rules of Interpretation.  The rules of interpretation set forth in Section 1.2 of the Credit Agreement are hereby incorporated by reference herein, mutatis mutandis.
SECTION 2.  Amendments to the Credit Agreement.  
(a)  Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order:
“Affected Financial Institution” shall mean (a) any EEA Financial Institution or (b) any UK Financial Institution.
“Resolution Authority” shall mean an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

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“Second Amendment Effective Date” shall mean October 19, 2020.
“UK Financial Institution” shall mean any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any Person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.
“UK Resolution Authority” shall mean the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.
(b)  Section 1.1 of the Credit Agreement is hereby amended by (i) replacing the text “Level IV” in the last paragraph of the definition of the term “Applicable Margin” with the text “Level V” and (ii) replacing the pricing grid in the definition of the term “Applicable Margin” with the following pricing grid:
															
	Level	Total Net Leverage Ratio	Eurocurrency Margin & LOC Fee	Base Rate Margin	Commitment Fee
	I	Less than or equal to 2.00 to 1.00	1.00%	0.00%	0.150%
	II	Greater than 2.00 to 1.00 but less than or equal to 2.50 to 1.00	1.25%	0.25%	0.175%
	III	Greater than 2.50 to 1.00 but less than or equal to 3.50 to 1.00	1.50%	0.50%	0.200%
	IV	Greater than 3.50 to 1.00 but less than or equal to 4.00 to 1.00	1.75%	0.75%	0.250%
	V	Greater than 4.00 to 1.00	2.00%	1.00%	0.300%

(c)  Section 1.1 of the Credit Agreement is hereby amended by restating the definition of “Bail-In Action” to read in its entirety as follows:
“Bail-In Action” shall mean the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of any Affected Financial Institution.

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(d)  Section 1.1 of the Credit Agreement is hereby amended by restating the definition of “Bail-In Legislation” to read in its entirety as follows:
“Bail-In Legislation” shall mean (a) with respect to any EEA Member Country which has implemented, or which at any time implements, Article 55 BRRD, the relevant implementing law or regulation as described in the EU Bail-In Legislation Schedule from time to time; and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).
(e)  Section 1.1 of the Credit Agreement is hereby amended by restating the definition of “Write-Down and Conversion Powers” to read in its entirety as follows:
“Write-Down and Conversion Powers” shall mean (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that Person or any other Person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers
(f)  Section 6.13 of the Credit Agreement is hereby amended by replacing the table in paragraph (a) of such Section with the following table:
						
	Date of Fiscal Quarter End	Total Net Leverage Ratio
	March 31, 2018 through June 30, 2019	4.75 to 1.00
	September 30, 2019 through June 30, 2020	4.50 to 1.00
	September 30, 2020	4.25 to 1.00
	December 31, 2020 through March 31, 2021	4.75 to 1.00
	June 30, 2021 through December 31, 2021	4.50 to 1.00
	March 31, 2022 through the Maturity Date	4.00 to 1.00

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(g)  Section 10.27 of the Credit Agreement is hereby amended by adding the following text immediately before the proviso in such Section:  “or the European Union’s blocking statute (Council Regulation (EC) 2271/96)”.
(h) Section 10.28 of the Credit Agreement is hereby amended as follows:  (i) replacing the text “any EEA Financial Institution” in the lead-in paragraph of such Section with the text “any Affected Financial Institution”, (ii) replacing the text “an EEA Resolution Authority” in the lead-in paragraph of such Section with the text “the applicable Resolution Authority”, (iii) replacing the text “an EEA Resolution Authority in clause (a) of such Section with the text “the applicable Resolution Authority”, (iv) replacing the text “an EEA Financial Institution” in clause (a) of such Section with the text “an Affected Financial Institution”, (v) replacing the text “such EEA Financial Institution” in clause (b)(ii) of such Section with the text “such Affected Financial Institution”, (vi) replacing the text “or” at the end of clause (b)(ii) of such Section with the text “and” and (vii) replacing the text “any EEA Resolution Authority” in clause (b)(iii) of such Section with the text “the applicable Resolution Authority”.
SECTION 3.  Representations and Warranties.  Each of the Credit Parties represents and warrants to the Administrative Agent and to each of the Lenders and Issuing Lenders that:
(a)  The execution, delivery and performance by the Credit Parties of this Amendment, and the consummation of the transactions contemplated hereby, (i) are within each of the Credit Party’s company powers, (ii) require no consent or approval of (including any exchange control approval) or action by or in respect of, or registration or filing with, any Governmental Authority, agency or official, except such as have been obtained or made and are in full force and effect, (iii) do not contravene, or constitute a default under, any provision of applicable law, regulation or order of any Governmental Authority or the organizational documents of any Credit Party or of any judgment, injunction, order or decree binding upon any Credit Party, (iv) do not result in the creation or imposition of any Lien on any asset of a Credit Party except Liens in favor of the Administrative Agent and/or the Collateral Agent (for the benefit of the Secured Parties) and (v) will not violate or result in a default under any indenture, loan agreement or other material agreement or instrument binding upon any Credit Party or its assets, or give rise to a right thereunder to require any payment to be made by a Credit Party.
(b)  This Amendment has been duly authorized, executed and delivered by it and each of this Amendment and the Credit Agreement, as amended hereby, constitutes its legal, valid and binding obligation, enforceable against such Credit Party in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

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(c)  The representations and warranties made by the Credit Parties in the Credit Agreement and the other Credit Documents shall (i) with respect to representations and warranties that contain a materiality qualification or are qualified by Material Adverse Effect, be true and correct and (ii) with respect to representations and warranties that do not contain a materiality qualification and are not qualified by Material Adverse Effect, be true and correct in all material respects, in each case as of the Amendment Effective Date as if made on and as of such date, except for any representation or warranty made as of an earlier date, which representation and warranty shall (x) with respect to representations and warranties that contain a materiality qualification or are qualified by Material Adverse Effect, be true and correct as of such earlier date and (y) with respect to representations and warranties that do not contain a materiality qualification and are not qualified by Material Adverse Effect, be true and correct in all material respects as of such earlier date.
(d)  At the time of and immediately after giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing on and as of the Amendment Effective Date.
(e)  As of the Amendment Effective Date, to the best knowledge of each Credit Party, the information included in the Beneficial Ownership Certification provided on or prior to the Amendment Effective Date to the Administrative Agent or any Lender as set forth herein is true and correct in all respects.
SECTION 4.  Effectiveness.  This Amendment shall become effective as of the date first above written (the “Amendment Effective Date”) when (a) the Administrative Agent shall have received counterparts of this Amendment that, when taken together, bear the signatures of (i) the Company and each other Credit Party party hereto and (ii) Lenders comprising the Required Lenders immediately prior to the Amendment Effective Date, (b) each of the representations and warranties set forth in Section 4 hereof shall be true and correct, (c) the Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of each Credit Party, the authorization of this Amendment and the transactions contemplated hereby and any other legal matters relating to the Credit Parties, the Credit Documents or the transactions contemplated hereby (including certified resolutions from the board of directors (or similar governing body) of each Credit Party authorizing the execution, delivery and performance of this Amendment), all in form and substance reasonably satisfactory to the Administrative Agent, (d) the Administrative Agent and the Lenders shall have received all documentation and other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act and the Beneficial Ownership Regulation, in each case to the extent requested in writing to the Company not later than five Business Days prior to the proposed Amendment Effective Date, including, without limitation, a Beneficial Ownership Certification with respect to each Credit Party that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation and (e) 

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the Administrative Agent shall have received payment of all fees and expenses required to be paid or reimbursed by the Company under or in connection with this Amendment, including those fees and expenses set forth in Section 9 hereof.
SECTION 5.  Reaffirmation.  Each of the Company and each other Credit Party hereby (a) reaffirms its obligations under the Credit Agreement and each other Credit Document to which it is a party, in each case as amended by this Amendment, (b) reaffirms all Liens on the Collateral which have been granted by it in favor of the Administrative Agent and/or the Collateral Agent (for the benefit of the Secured Parties) pursuant to the Credit Documents and (c) acknowledges and agrees that the grants of security interests by and the guarantees of the Credit Parties contained in the Security Agreement and the other Security Documents are, and shall remain, in full force and effect immediately after giving effect to this Amendment.
SECTION 6.  Credit Agreement.  Except as expressly set forth herein, this Amendment (a) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Issuing Lenders, the Administrative Agent or any Credit Party under the Credit Agreement or any other Credit Document and (b) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Credit Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle any Credit Party to any future consent to, or waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Credit Document in similar or different circumstances.  After the Amendment Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Credit Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified hereby.  This Amendment shall constitute a “Credit Document” for all purposes of the Credit Agreement and the other Credit Documents.
SECTION 7.  Applicable Law; Waiver of Jury Trial.  (a)  THIS AMENDMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING OUT OF OR RELATING TO THIS AMENDMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
(b)  EACH PARTY HERETO HEREBY AGREES AS SET FORTH IN SECTIONS 10.13 AND 10.16 OF THE CREDIT AGREEMENT (AS IN EFFECT ON THE DATE HEREOF) AS IF SUCH SECTIONS WERE SET FORTH IN FULL HEREIN. 

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SECTION 8.  Counterparts; Amendment.  This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile transmission or other electronic imaging shall be effective as delivery of an original executed counterpart of this Amendment.  This Amendment may not be amended nor may any provision hereof be waived except pursuant to a writing signed by the Credit Parties, the Administrative Agent, the Issuing Lenders and the Lenders party hereto.  The words “execution”, “signed”, “signature”, “delivery” and words of like import in or relating to this Amendment and/or any documents to be signed in connection with this Amendment and the transactions contemplated hereby shall be deemed to include Electronic Signatures (as defined below), deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature page, physical delivery thereof or the use of a paper-based recording system, as the case may be.  As used herein, “Electronic Signatures” means any electronic symbol or process attached to, or associated with, any contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record.
SECTION 9.  Fees and Expenses.
(a)  The Company hereby agrees to pay to the Administrative Agent on the Amendment Effective Date, for the account of each applicable party, all fees separately agreed to by the Company and Wells Fargo (or any of its Affiliates) in respect of this Amendment.
(b)  The Company agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Amendment to the extent required under Section 10.5(a) of the Credit Agreement.
SECTION 10.  Headings.  The Section headings used herein are for convenience of reference only, are not part of this Amendment and are not to affect the construction of, or to be taken into consideration in interpreting, this Amendment.

[Signature Pages Follow]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first written above.

						
	ITRON, INC.
	By
		/s/ JOEL VACH
		Name: Joel Vach
		Title: VP Tax and Corporate Treasurer

						
	ITRON NETWORKED SOLUTIONS, INC.
	By
		/s/ JOEL VACH
		Name: Joel Vach
		Title: Director

						
	ITRON METERING SOLUTIONS LUXEMBOURG
	By
		/s/ CHRISTOPHER W. HARTMAN
		Name: Christopher W. Hartman
		Title: Manager

						
	ITRON GLOBAL
	By
		/s/ CHRISTOPHER W. HARTMAN
		Name: Christopher W. Hartman
		Title: Manager

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and a Lender

	By
		/s/ JESSY W. HUMMEL
		Name: Jessy W. Hummel
		Title: VP & Relationship Manager/Commercial Banker
		

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	BANK OF THE WEST
	
	
	By
		/s/ LENI PRECIADO
		Name: Leni Preciado
		Title: Director & Market Manager

For institutions that require a second signature:

						
	
	By
		
	Name:
	Title:

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	BMO Harris Bank N.A.
	
	
	By
		/s/ ANDREW BERRYMAN
		Name: Andrew Berryman
		Title: Vice President

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	BNP PARIBAS
	
	
	By
		/s/ GEORGE KO
		Name: George Ko
		Title: Director

For institutions that require a second signature:

						
	
	By
		/s/ DAVID BERGER
		Name: David Berger
		Title: Managing Director

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	Citibank, N.A.
	
	
	By
		/s/ HANS LIN
		Name: Hans Lin
		Title: Director

For institutions that require a second signature:

						
	
	By
		
		Name:
		Title:

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

							
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

	
			
	Name of Institution:	
		
	CITIZENS BANK, N.A.	
		
		
	By	
		/s/ A. PAUL DAWLEY	
		Name: A. Paul Dawley	
		Title: Senior Vice President	

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	Fifth Third Bank, National Association
	
	
	By
		/s/ YVONNE MONDRAGON
		Name: Yvonne Mondragon
		Title: Officer

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	HSBC Bank USA, National Association
	
	
	By
		/s/ CHRIS BURNS
		Name: Chris Burns
		Title: Senior Vice President

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	ING Bank
	
	
	By
		/s/ WOUTER JANSEN
		Name: Wouter Jansen
		Title: Director

For institutions that require a second signature:

						
	
	By
		/s/ MAXIMILIAN CUPRIAK
		Name: Maximilian Cupriak
		Title: Vice President

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	ING Bank N.V., Dublin Branch
	
	
	By
		/s/ SEAN HASSETT
		Name: Sean Hassett
		Title: Director

For institutions that require a second signature:

						
	
	By
		/s/ PADRAIG MATTHEWS
		Name: Padraig Matthews
		Title: Director

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	JP Morgan Chase, N.A.
	
	
	By
		/s/ LYNN BRAUN
		Name: Lynn Braun
		Title: Executive Director

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	KEYBANK NATIONAL ASSOCIATION
	
	
	By
		/s/ TAD L. STAINBROOK
		Name: Tad L. Stainbrook
		Title: Vice President

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	MUFG Union Bank, N.A.
	
	
	By
		/s/ MENG ZHANG
		Name: Meng Zhang
		Title: Vice President

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	PNC BANK, NATIONAL ASSOCIATION
	
	
	By
		/s/ ANA GAYTAN
		Name: Ana Gaytan
		Title: Assistant Vice President

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	Silicon Valley Bank
	
	
	By
		/s/ JACKSON MORROW
		Name: Jackson Morrow
		Title: Vice President

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	TD BANK, N.A.
	
	
	By
		/s/ MATT WASZMER
		Name: Matt Waszmer
		Title: Senior Vice President

For institutions that require a second signature:

						
	TD BANK USA, N.A.
	By
		/s/ MATT WASZMER
		Name: Matt Waszmer
		Title: Senior Vice President of TD Bank, N.A. as Servicing Agent for TD Bank USA, N.A.

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]

						
	LENDERS

SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF JANUARY 5, 2018, AMONG ITRON, INC., THE FOREIGN BORROWERS AND GUARANTORS PARTY THERETO, THE LENDERS AND ISSUING LENDERS PARTY THERETO AND WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT

		
	Name of Institution:
	
	U.S. BANK NATIONAL ASSOCIATION
	
	
	By
		/s/ EDWARD B. HANSON
		Name: Edward B. Hanson
		Title: Senior Vice President

[Amendment No. 2 to Second Amended and Restated Credit Agreement Signature Page]Exhibit 10.1

 

HEALTHIMATION LICENSE
AGREEMENT

 

This Healthimation License Agreement
(“Agreement”), dated as of September 16, 2020 (the
“Effective Date”), is by and between Healthimation, LLC, a Delaware
limited liability company, with offices located at _59 Sagamore Street, Dorchester,
MA,02125 (“Licensor”) and Nemaura Medical Inc. a Nevada corporation,
with offices located at Advanced technology Centre, Oakwood Drive, Loughborough, Leics, LE11
3QF, UK (“Licensee”).

WHEREAS, Licensor is the sole and exclusive
owner of and has the right to license to Licensee the Licensed Assets (as defined below) and Licensed Know-how (as defined below);
and

WHEREAS, Licensee wishes to use the Licensed
Assets and Licensed Know-how in the Field of Use (as defined below) in the Territory (as defined below) in connection with the
Licensed Assets (as defined below) and Licensor is willing to grant to Licensee a license to and under the Licensed Assets and
Licensed Know-how on the terms and conditions set out in this Agreement.

WHEREAS, The parties will agree on a Statement
of Work to adapt the licensed asset for use by the licensee in the territory, for direct to consumer, corporate and healthcare
insurer product offerings. This shall be the subject of a standalone statement of work.

NOW, THEREFORE, in consideration of the mutual
covenants, terms and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

 

		1.	Definitions. For purposes of this Agreement, the following terms shall have the following
meanings:

		1.1	“Action” has the meaning set forth in Section 15.1.

		1.2	“Affiliate” of a Person means any other Person that directly or indirectly, through
one or more intermediaries, controls, is controlled by, or is under common control with, such Person. The term “control”
for purposes of this Agreement means the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract or otherwise/direct or indirect ownership of more than fifty percent (50%)
of the voting securities of a Person, and “controlled by” and “under common control with” have correlative
meanings.

		1.3	“Agreement” has the meaning set forth in the preamble.
“Auditor” has the meaning set forth in Section 7.2(a).

		1.4	“Business Day” means a day other than a Saturday,
Sunday or other day on which commercial banks in Boston, MA are authorized or required by Law to be closed for business.

		1.5	“Change of Control” means with respect to a party, a change of the Person that
has control, directly or indirectly, of that party. For the purposes of this definition, “control” has the meaning
given to it in the definition of “Affiliate”.

		1.6	“Confidential Information” means all non-public,
confidential or proprietary information of Licensor, or its Affiliates or Representatives, whether in oral, written, electronic
or other form or media, whether or not such information is marked, designated or otherwise identified as “confidential”
as well as any information that, due to the nature of its subject matter or circumstances surrounding its disclosure, would reasonably
be understood to be confidential or proprietary, including, specifically: (a) the Licensed Know-how; (b) Licensor’s other
unpatented inventions, ideas, methods and discoveries, know-how, trade secrets, unpublished patent applications, invention disclosures,
invention summaries and other confidential intellectual property; (c) all other designs, specifications, documentation, components,
source code, object code, images, icons, audiovisual components and objects, schematics, drawings, protocols, processes, and other
visual depictions, in whole or in part, of any of the foregoing; and (d) all notes,
analyses, compilations, reports, forecasts, studies, samples, data, statistics, summaries, interpretations and other materials
prepared by or for the Licensee, its Affiliates or its Representatives that contain, are based on, or otherwise reflect or are
derived from any of the foregoing in whole or in part.

    	  

    	 

    

 

Confidential Information does
not include information that Licensee can demonstrate by documentation: (w) was already
known to Licensee without restriction on use or disclosure prior to the receipt of such information directly or indirectly from
or on behalf of Licensor; (x) was or is independently developed by Licensee without reference to or use of any Confidential Information;
(y) was or becomes generally known by the public other than by breach of this Agreement
by, or other wrongful act of, Licensee,
its Affiliates or any of its Representatives; or (z) was received by Licensee from
a third party who was not, at the time, under any obligation to Licensor or any other Person to maintain the confidentiality of
such information.

No Confidential Information
is included in any of the foregoing exceptions merely because it comprises or relates to the same general subject matter as a specific
item of disclosure falling within such exceptions, nor is any general subject matter of Confidential Information within any of
the foregoing exceptions merely because one or more specific items comprising or relating to such subject matter fall within such
exceptions.

		1.7	“Effective Date” has the meaning set forth in the
preamble.

		1.8	“Field of Use” means health and weight management
for people diagnosed with or suffering from Type 1, Type 2 diabetes or prediabetes, or non-diabetics seeking to improve their health.

		1.9	“GAAP” means United States generally accepted accounting
principles consistently applied.

		1.10	“Governmental Authority” means any federal, state,
national, supranational, local or other government, whether domestic or foreign, including any subdivision, department, agency,
instrumentality, authority (including any regulatory authority), commission, board or bureau thereof, or any court, tribunal or
arbitrator.

		1.11	“Improvement” means any modification of any Licensed
Asset, provided that the manufacture, use, offer for sale, sale or importation by Licensee of the modified product incorporates,
uses or is derived from any Licensed Know-how.

		1.12	“Law” means any statute, law, ordinance, regulation,
rule, code, order, constitution, treaty, common law, judgment, decree, other requirement or rule of law of any federal, state,
local or foreign government or political subdivision thereof, or any arbitrator, court or tribunal of competent jurisdiction.

		1.13	“Licensed Assets” means the Assets listed in Schedule
2.

		1.14	“Licensed Know-how” means any and all technical
information, trade secrets, formulas, prototypes, specifications, directions, instructions, test protocols, procedures and results,
studies, analyses, raw material sources, data, manufacturing data, formulation or production technology, conceptions, ideas, innovations,
discoveries, inventions, processes, methods, materials, machines, devices, formulae, equipment, enhancements, modifications, technological
developments, techniques, systems, tools, designs, drawings, plans, software, documentation, data, programs and other knowledge,
information, skills and materials controlled by Licensor pertaining to the Licensed Assets and useful in the manufacture, sale
or use of the same.

		1.15	“Licensed Know-how Term” has the meaning set forth
in Section 17.1(b).

		1.16	“Licensed Asset Challenge” has the meaning set
forth in Section 9.

		1.17	“Licensee” has the meaning set forth in the preamble.

    	  

    	 

    

 

		1.18	“Licensor” has the meaning set forth in the preamble.

		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	“Payment Statement” has the meaning set forth in
Section 6.5.3.

		1.21	“Person(s)” means an individual, corporation, partnership,
joint venture, limited liability company, governmental authority, unincorporated organization, trust, association or other entity.

		1.22	“Representatives” means a party’s and its
Affiliates’ employees, officers, directors, consultants and legal advisors.

		1.23	“Sublicensee or Sublicensees” means any
Person to whom or which Licensee grants a sublicense, in whole or in part, under this Agreement.

		1.24	“Term” has the meaning set forth in Section 17.1.

		1.25	“Territory” means those countries identified in
Schedule 4.

		2.	Grant.

 

		2.1	Asset and Know-how License. Subject to the terms and conditions
of this Agreement, Licensor hereby grants to Licensee during the Term a nontransferable, nonsublicensable, except as expressly
permitted under Section 4, right and license under the Licensed Know-how to make, have made, use, offer to sell, sell and import
Licensed Assets representing specific upgrades to existing digital applications and Nemaura specific CGM digital applications in
the Field of Use in the Territory.

		2.2	Licensor Reservation of Rights. Licensor reserves the right to continue to make,
use, modify, improve, offer to sell, sell, and import products in the Field
of Use in the Territory, which do not arise from any collaboration with Licensee nor any Confidential Information belonging to
Licensee, but which nonetheless may be deemed competitive with the Licensed Assets. Notwithstanding the exclusive character of
certain licenses granted in this Agreement, Licensee takes such licenses subject to any rights granted to third parties set forth
in Schedule 1, which shall be limited to agreements entered into by Licensor before the Effective Date and all renewals and extensions
thereof.

		2.3	Licensee Reservation of Rights to Improvements. Licensee shall solely retain all right,
title and interest in any to any Improvements, adaptations or modifications to any of the Licensed Assets, including improvements,
adaptations or modifications arising from cooperation or coordination between Licensor and Licensee. For avoidance of doubt, Licensee
shall own all right, title and interest in and to the new adaptations of the Why WAIT program described in Section 5.

		2.4	Limited Grant. Except for the rights and licenses granted by Licensor under Section 2,
this Agreement does not grant to Licensee or any other Person any right, title or interest, including any license, by implication,
estoppel, or otherwise. All rights, titles and interests not specifically and expressly granted by Licensor hereunder are hereby
reserved.

		3.	Transfer of Licensed Know-how. Licensor shall, within fifteen
(15) Business Days after the Effective Date, disclose the Licensed Know-how(not part of IP owned by HI) to Licensee. During the
first three (3) months after the Effective Date, upon reasonable notice and during Licensor’s normal business hours, Licensor
shall, without assessing a fee, (a) designate one (1) qualified technical liaison for
communications with Licensee’s technical staff, and (b) provide Licensee with
five (5) hours of technical assistance from Licensor’s technical liaison by telephone or e-mail, to answer Licensee’s
questions concerning the use or manufacture of the Licensed Assets, as Licensee reasonably requests. Licensee shall reimburse Licensor
for its reasonable costs for such technical assistance by its technical liaison in excess of the five (5) hours provided herein,
including the technical liaison’s time, together with such reasonable out-of-pocket travel and other expenses incurred by
Licensor’s technical liaison in providing the additional technical assistance.

    	  

    	 

    

 

 

		4.	Sublicensing.

		4.1	Sublicense Grant. Subject to the terms and conditions
of this Agreement, Licensor hereby grants to Licensee the right to sublicense
all or any of its licensed rights to and under the Licensed Assets and Licensed Know-how
subject to the express limitations set forth in Section 4.

		4.2	No Sublicensing Royalty. Licensee shall not be required pay to Licensor a sublicensing
royalty. .

		4.3	Scope of Sublicense. No sublicense shall exceed the scope of rights granted to Licensee
hereunder. Licensee shall require all sublicensees to be in writing and to: (a) include
an agreement by the sublicensee to be bound by the terms and conditions of this Agreement, including an audit right by Licensor
of the same scope as provided in Section 7.2; (b)
include Licensor’s right to enforce its rights in the Licensed Assets and Licensed Know-how; (c)
provide that the term of the sublicense thereunder shall not extend beyond the Term;
and (d) indicate that Licensor is a third party beneficiary and entitled to
enforce the terms and conditions of the sublicense. Licensee shall enforce all sublicenses at its cost and shall be responsible
for the acts and omissions of its Sublicensees with respect to such sublicenses. In the event of the termination or expiration
of this Agreement, all sublicense rights shall terminate effective as of the termination or expiration of this Agreement.

		4.4	Licensee Liability. Notwithstanding any sublicense agreement, Licensee shall remain primarily
liable to Licensor for all of Licensee’s duties and obligations contained in this Agreement, including the payment of all
Royalties due pursuant to Section 6.2. Any act or omission of a Sublicensee that would be a breach of this Agreement if committed
or omitted by Licensee will be a breach by Licensee. Each sublicense agreement shall contain a right of termination by Licensee
for the Sublicensee’s: (a) breach of any payment or reporting obligations affecting
Licensor; or (b) breach of any other terms or conditions of the sublicense agreement
that is also set forth, in substance, in this Agreement, which breach would constitute a breach of this Agreement if Licensee failed
to comply therewith. In the event of a Sublicensee breach of these obligations, and if after a reasonable cure period provided
in the sublicense agreement, not to exceed thirty (30) Business Days, the Sublicensee fails to cure the Sublicensee breach, then
Licensee shall terminate the sublicense agreement by written notice to the Sublicensee within thirty (30) Business Days thereafter
and concurrently provide a copy of such notice to Licensor.

		4.5	Sublicensee Records. Licensee shall require its Sublicensees: (a)
to keep records and submit reports to Licensee of the same type and at the same time as required by Section 6.5; and (b)
to submit to Licensor at the same time Licensee is required to submit a Payment Statement under Section 6.5.3, a report
of all uses and dispositions of products licensed under any sublicense agreement and the amount of payments made to Licensee in
connection with each such use or disposition.

		4.6	Notice of Sublicense Agreement. Licensee shall deliver to Licensor a true, complete, and
correct copy of each sublicense agreement entered into by Licensee, and any modification or termination thereof, within thirty
(30) Business Days following the applicable execution, modification, or termination of the sublicense agreement.

		5.	Royalties.

		5.1	Up-front Payment. In consideration of its license to the Licensed Know-how under this Agreement,
Licensee shall issue restricted common stock (subject to SEC rule 144) to the value of $100,000
(one hundred thousand USD), whereby the amount of stock to be issued shall be calculated based on the 30 prior days volume weighted
average share price, from the date of final signature. This is not a prepayment of any royalties, or any other sums payable
to Licensor under this Agreement.

    	  

    	 

    

 

		5.2	Royalty. The Licensee will not be liable for payment of any royalties to the Licensor.
A fixed user fee shall be payable by the licensee to the licensor, per user registered on the Why Wait program, as shall be mutually
negotiated between the parties from time to time.

		5.3	Taxes. Royalties and other sums payable under
this Agreement are exclusive of taxes. Licensee shall be responsible for all sales, use, excise and value added taxes and any other
similar taxes, duties and charges of any kind imposed by any federal, state or local Governmental Authority on any amounts payable
by Licensee hereunder other than any taxes imposed on, or with respect to, Licensor’s income, revenues, gross receipts, personnel
or real or personal property or other assets and shall pay all such royalties and other sums payable hereunder free and clear of
all deductions and withholdings whatsoever, unless the deduction or withholding is required by law. If any deduction or withholding
is required by law, Licensee shall pay to Licensor such sum as will, after the deduction or withholding has been made, leave Licensor
with the same amount as it would have been entitled to receive without any such requirement to make a deduction or withholding.

		5.4	Payment Terms and Royalty Statements.

		5.4.1	Licensee shall pay all Royalties and any other sums payable under this Agreement within fifteen
(15) Business Days of the dates due as described in this Agreement. Licensee shall make all payments in US dollars by wire transfer
of immediately available funds to a bank account to be designated in writing by Licensor. For the purpose of converting the local
currency in which any royalties or other payments arise into US dollars, the rate of exchange to be applied shall be the rate of
exchange in effect on the last Business Day of the due date to which the payment relates as reported in the Wall Street Journal.

		5.4.2	On or before the due date for all payments to Licensor pursuant to Section 6.2, Licensee shall
provide Licensor with a statement (“Payment Statement”) showing:

		5.4.2.1	the time period to which the Royalty payment relates;

		5.4.2.2	the exchange rate, if any, used for calculating any Royalties; and

		5.4.2.3	such other particulars as are reasonably necessary for an accurate accounting of the payments
made pursuant to this Agreement.

		5.4.3	If payments are not received by Licensor within fifteen (15) Business Days after becoming due,
Licensee shall pay to Licensor interest on the overdue payment from the date such payment was due to the date of actual payment
at a rate of one percent (1%) per month, or if lower, the maximum amount permitted under applicable Law.

		6.	Records and Audit.

		6.1	Records. For a period of three (3) years from the Effective Date, Licensee shall keep complete
and accurate records of its and its Sublicensees’ sales, uses, transfers and other dispositions of Licensed Assets reasonably
necessary for the calculation of payments to be made to Licensor hereunder.

		6.2	Audit.

		6.2.1	Licensor, at its own expense, may at any time within
one (1) year after receiving any Payment Statement
from Licensee, nominate an independent Certified Public Accountant
(“Auditor”) who shall have access to Licensee’s records during
Licensee’s normal business hours for the purpose of verifying all payments made
under this Agreement.

		6.2.2	Licensor shall provide to Licensee a copy of the Auditor’s audit report
within ten (10) Business Days of Licensor’s receipt of the report. If
the report shows that payments made by Licensee are deficient, Licensee shall pay Licensor
the deficient amount plus interest on the deficient amount, as calculated pursuant to Section
6.5, within thirty (30) Business Days after Licensee’s receipt of the audit report.
If payments made by Licensee are found to be deficient by more than twenty percent (20%), Licensee shall pay for the cost
of the audit.

    	  

    	 

    

 

 

		7.	Right of First Refusal. Within the first six months of this
agreement and upon receiving a written offer from a third party for the sale, assignment, lease or other transfer of any of Licensor’s
right, title or interest in or to intellectual property or know-how underlying Licensor’s grant to Licensee of the Licensed
Assets, and prior to accepting the offer, Licensor shall: (a) present a copy of the offer to Licensee and (b) wait for ten (10)
Business Days from the date Licensee confirms receipt of the offer presented by Licensor, prior to accepting the offer. So long
as, within such ten-day waiting period, Licensee agrees to meet or improve upon the terms of the third party offer, Licensor shall
accept Licensor’s offer over the third party offer, to the extent Licensor elects to accept an offer from either. Licensee
has paid Licensor $1,000 as non-refundable consideration specifically for the right of first refusal described in this paragraph,
and Licensor acknowledges receipt of the same. This payment may be referenced herein as the “Right of First Refusal Consideration”.

		8.	Challenges to Licensed Assets.

		8.1	License Termination.
If, during the Term, Licensee or a
Licensee Affiliate institutes or actively participates as an adverse party in, or otherwise provides material support to, any action,
suit or other proceeding in the Territory to invalidate or limit the scope of any Licensed Asset or obtain a ruling that any Licensed
Asset is infringing on the intellectual property rights of a third party (“Licensed Asset Challenge”), Licensor has
the right to terminate this Agreement with notice to Licensee and with no opportunity for Licensee to cure, effective as of the
first date of Licensee’s or its Affiliate’s first filing in the Licensed Asset Challenge.

		8.2	Sublicensee Challenges to Licensed Assets. Licensee shall include provisions in all sublicense
agreements permitted under Section 4 providing that if the Sublicensee, or an Affiliate of the Sublicensee, brings or participates
in a Licensed Asset Challenge, the sublicense agreement will immediately terminate effective as of the first date of the Sublicensee’s,
or its Affiliate’s, first filing in the Licensed Asset Challenge. The failure to include such automatic termination provision
in a sublicense agreement hereunder shall constitute a material breach of this Agreement. If a Sublicensee (or an Affiliate of
the Sublicensee) undertakes a Licensed Asset Challenge, Licensee, upon receipt of notice from Licensor, shall terminate the applicable
sublicense agreement. Any failure to terminate the sublicense agreement as required by this Section 9.2 shall constitute a material
breach of this Agreement.

		8.3	Royalty After Challenge. If Licensee or any Licensee Affiliate institutes or participates
in a Licensed Asset Challenge, the Royalty owed to Licensor under this Agreement shall increase to two hundred percent (200%) of
annual Royalty effective as of the first date of Licensee’s or its Affiliate’s first filing or participation in the
Licensed Asset Challenge.

		9.	Enforcement of Licensed Assets and Licensed Know-how and Third-party
Infringement Claims.

		9.1	Notice of Infringement or Third-party Claims. If (a)
either party believes that a Licensed Know-how is being infringed or misappropriated by a third party in the Territory,
or (b) if a third party alleges that any Licensed Asset or its use, development, manufacture
or sale infringes such third party’s intellectual property rights in the Territory, the party possessing such belief or awareness
of such claims shall promptly provide written notice to the other party and provide it with all details of such infringement or
claim, as applicable, that are known by such Party.

		9.2	Right to Bring Action or Defend.

		9.2.1	Other than claims pertaining to an Improvement, Licensor has the sole right and discretion to
prevent or abate any actual or threatened misappropriation or infringement and attempt to resolve any claims relating to the Licensed
Assets and Licensed Know-how, including by (a) prosecuting or defending any opposition,
derivation, interference, declaratory judgment, federal district court, US International Trade Commission or other proceeding of
any kind, and (b) taking any other lawful action that Licensor, in its sole discretion, believes is reasonably necessary, to protect,
enforce or defend any Licensed Asset or Licensed Know-how. Licensor has the right to prosecute or defend any such proceeding in
Licensor’s own name or, if required by applicable Law or otherwise necessary or desirable for such purposes, in the name
of Licensee and may join Licensee as a party if a court of competent jurisdiction determines Licensee is an indispensable party
to such proceeding. Licensor shall bear its own costs and expenses in all such proceedings and have the right to control the conduct
thereof and be represented by counsel of its own choice therein.

 

    	  

    	 

    

 

		9.2.2	Licensee shall and hereby does irrevocably and unconditionally waive any objection to Licensor’s
joinder of Licensee to any proceeding described in Section 10.2(a) on any grounds whatsoever, including on the grounds of personal
jurisdiction, venue or forum non conveniens. If Licensor brings or defends any such proceeding, Licensee shall cooperate
in all respects with Licensor in the conduct thereof, and assist in all reasonable ways, including having its employees testify
when requested and make available for discovery or trial exhibit relevant records, papers, information, samples, specimens, and
the like subject to Licensor’s reimbursement of any out-of-pocket expenses incurred on an on-going basis by Licensee in providing
such assistance.

		9.3	No Obligation to Sue. Licensor shall have no obligation to bring any suit, action or other
proceeding against any alleged infringer of any Licensed Asset unless (a) Licensee
provides Licensor with an opinion from an independent patent attorney reasonably acceptable to Licensor that the alleged infringer
is infringing any intellectual property of the Licensed Asset and (b) the alleged infringer’s sales of products purportedly
covered by a lawsuit are likely to result in a favorable judicial opinion or settlement generating in excess of One Million Dollars
($1,000,000).

		9.4	Recovery and Settlement. If Licensor undertakes the enforcement or defense of any Licensed
Asset:

		9.4.1	any recovery, damages or settlement derived from such suit, action or other proceeding shall be
retained in its entirety by Licensor; and

		9.4.2	Licensor may settle any such suit, action or other proceeding, whether by consent order, settlement
or other voluntary final disposition, without the prior written approval of Licensee or any Sublicensee, provided that Licensor
shall not settle any such suit, action or other proceeding in a manner that adversely affects the rights of any of Licensee or
any Sublicensee without Licensee’s prior written consent.

		9.5	March-in Rights. If any suit, action or other proceeding alleging infringement by any Licensed
Asset is brought against Licensee or any Sublicensee, Licensor, with Licensee’s prior written consent, may, within fifteen
(15) Business Days after commencement of such suit, action or other proceeding, intervene and take over the sole defense of the
suit, action or other proceeding at its own expense.

		10.	Compliance with Laws.

		10.1	Patent Marking. Licensee and any Sublicensee shall comply with the patent marking provisions
of 35 USC § 287(a) by marking the Licensed Assets with the word “patent”
or the abbreviation “pat.” and either the numbers of the relevant patents
or a web address that is freely accessible to the public and that associates the Licensed Assets with the relevant patents, in
the event any of the Licensed Assets become subject to a registered patent. Licensee shall include in all sublicense agreements
a patent marking requirement substantially identical to Section 11.1. Licensee and
any Sublicensee shall also comply with the patent marking laws of the relevant countries in the Territory.

		10.2	Regulatory Clearance. Licensee itself or through any of its Sublicensees shall, at Licensee’s
or Sublicensees’ expense, comply with all regulations and safety standards concerning Licensed Assets developed and commercialized
by or under the authority of Licensee and obtain all necessary governmental approvals for the development, production, distribution,
sale and use of Licensed Assets developed and commercialized by or under the authority of Licensee, including any safety or clinical
studies. Licensee shall have responsibility for and provide suitable warning labels, packaging and instructions as to the use for
such Licensed Assets.

 

    	  

    	 

    

 

		10.3	Recordation of
License. If recordation of this Agreement
or any part of it by a national
or supranational agency is necessary for
Licensee or Licensor to fully enjoy
the rights, privileges and
benefits of this Agreement, Licensee shall
at its own expense and within
one hundred eighty (180) Business Days of the
Effective Date, record
this Agreement or all such parts of
this Agreement and information concerning
the license granted hereunder with each
such appropriate national or supranational
patent agency. Licensee shall (a)
provide to Licensor for Licensor’s review and
approval all documents or information
it proposes to record at
least one (1) Business Day prior
to the recordation
thereof, and (b)
notify Licensor with verification of Licensee’s recordation or any
related agency ruling. In making any
such disclosures, Licensee shall maintain, to
the fullest extent permitted by
Law, the confidentiality
of this Agreement, the terms and
conditions of this Agreement and
any other Licensor Confidential Information.
Any specific disclosure made in
accordance with Section 11.3 and
not objected to by Licensor
shall not constitute
a breach of the Licensee’s
obligations under Section 12.

		10.4	Export Compliance. Neither Licensee nor any of its Sublicensees shall, directly or indirectly,
export (including any “deemed export”), nor re-export (including any “deemed re-export”) the Licensed Assets
(including any associated products, items, articles, computer software, media, services, technical data, and other information)
in violation of any applicable U.S. Laws. Licensee and each Sublicensee shall include a provision identical in substance to Section
11.4 in its agreements with its Sublicensees, third party wholesalers, distributors, customers and end-users requiring that these
Persons comply with all applicable U.S. Laws, including all applicable U.S. export Laws. For the purposes of Section 11.4, the
terms “deemed export” and “deemed re-export” have the meanings
set forth in Section 734.13(b) and Section 734.14(b), respectively, of the Export Administration Regulations (EAR) (15 CFR §§
734.13(b) and 734.14(b)).

		11.	Confidentiality.

		11.1	Confidentiality Obligations. Each party (the “Receiving Party”) acknowledges
that in connection with this Agreement 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, during the Term
and for three (3) years thereafter:

		11.1.1	not use the Disclosing Party’s Confidential Information other than as necessary to exercise
its rights and perform its obligations under this Agreement; and

		11.1.2	maintain the Disclosing Party’s Confidential Information in confidence and, subject to Section
12.2, 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 Representatives who:

		11.1.2.1	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 Agreement;

		11.1.2.2	have been apprised of this restriction; and

		11.1.2.3	are themselves bound by written nondisclosure agreements at least as restrictive as those set
forth in Section 12.1, 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,
Section 12.1.

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.

		11.2	Exceptions. If the Receiving Party becomes
legally compelled to disclose any Confidential Information, the Receiving Party shall:

		11.2.1	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 under Section 12; and

 

    	  

    	 

    

 

		11.2.2	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 under Section 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.

		12.	Representations and Warranties.

		12.1	Mutual Representations and Warranties. Each party represents and warrants to the other
party that as of the date of this Agreement:

		12.1.1	it is duly organized, validly existing and in good standing as a corporation or other entity as
represented herein under the laws and regulations of its jurisdiction of incorporation, organization or chartering;

		12.1.2	it has, and throughout the Term shall retain, the
full right, power and authority to enter into this Agreement and to perform its obligations hereunder;

		12.1.3	the execution of this Agreement by its representative whose signature is set forth at the end
hereof has been duly authorized by all necessary corporate action of the party; and

		12.1.4	when executed and delivered by such party, this Agreement shall constitute the legal, valid and
binding obligation of that party, enforceable against that party in accordance with its terms.

		12.1.5	It is not aware of and, other than as set forth in Schedule 3, has never received any notice or
threat of any claim, suit, action or proceeding, and has no knowledge or reason to know of any information, that could: (a)
invalidate Licensor’s rights in or to the Licensed Assets; (b) prove
that the Licensed Assets infringe any third party’s intellectual property rights; or (c)
restrict or impair use of the Licensed Assets based on grounds of safety, misleading marketing claims, or investigation launched
by a governmental agency or regulatory body.

		12.2	Disclaimer of Licensor Representations and Warranties. LICENSOR EXPRESSLY DISCLAIMS ALL
REPRESENTATIONS AND WARRANTIES, WHETHER WRITTEN, ORAL, EXPRESS, IMPLIED, STATUTORY OR
OTHERWISE, CONCERNING THE VALIDITY, ENFORCEABILITY AND SCOPE OF THE LICENSED ASSETS, THE
ACCURACY, COMPLETENESS, SAFETY, USEFULNESS FOR ANY PURPOSE OR, LIKELIHOOD OF SUCCESS (COMMERCIAL, REGULATORY OR OTHER) OF THE LICENSED
ASSETS, LICENSED KNOW-HOW AND ANY OTHER TECHNICAL INFORMATION, TECHNIQUES, MATERIALS, METHODS, PRODUCTS, PROCESSES OR PRACTICES
AT ANY TIME MADE AVAILABLE BY LICENSOR INCLUDING ALL IMPLIED WARRANTIES OF MERCHANTABILITY,
QUALITY, FITNESS FOR A PARTICULAR PURPOSE AND WARRANTIES ARISING FROM A COURSE OF DEALING, COURSE OF PERFORMANCE, USAGE OR TRADE
PRACTICE.

		13.	Exclusion of Consequential and Other Indirect Damages. TO
THE FULLEST EXTENT PERMITTED BY LAW, NEITHER PARTY SHALL BE LIABLE TO THE OTHER OR
TO ANY OTHER PERSON FOR ANY INJURY TO OR LOSS OF GOODWILL, REPUTATION,
BUSINESS, PRODUCTION, REVENUES, PROFITS, ANTICIPATED PROFITS, CONTRACTS OR OPPORTUNITIES (REGARDLESS OF HOW THESE ARE CLASSIFIED
AS DAMAGES), OR FOR ANY CONSEQUENTIAL, INCIDENTAL, INDIRECT, EXEMPLARY, SPECIAL, PUNITIVE OR ENHANCED DAMAGES WHETHER ARISING OUT
OF BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, PRODUCT LIABILITY OR OTHERWISE (INCLUDING THE ENTRY INTO,
PERFORMANCE OR BREACH OF THIS AGREEMENT), REGARDLESS OF WHETHER SUCH LOSS OR DAMAGE WAS FORESEEABLE OR THE PARTY AGAINST WHOM SUCH
LIABILITY IS CLAIMED HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED
OR OTHER REMEDY OF ITS ESSENTIAL PURPOSE.

 

    	  

    	 

    

 

		14.	Indemnification.

		14.1	Licensee Indemnification. Licensee shall indemnify, defend and hold harmless Licensor and
its officers, directors, employees, agents, successors and assigns against all Losses arising out of or resulting from any third
party claim, suit, action or other proceeding related to or arising out of or resulting from (a)
Licensee’s breach of any representation, warranty, covenant or obligation under this Agreement, or (b) use by Licensee or
its Sublicensee of Licensed Assets or Licensed Know-how, or (c) any use, sale, transfer or other disposition by Licensee of Licensed
Assets or any other products made by use of Licensed Assets or Licensed Know-how (each an “Action”).

		14.2	Indemnification Procedure. Licensor shall notify Licensee in writing of any Action and
cooperate with Licensee at Licensee’s sole cost and expense. Subject to Section 10, Licensee shall immediately take control
of the defense and investigation of the Action and shall employ counsel of its choice
to handle and defend the Action, at Licensee’s sole cost and expense. Licensor’s failure to perform any obligations
under Section 15.2 shall not relieve Licensee of its obligation under Section 15 except to the extent that Licensee can demonstrate
that it has been prejudiced as a result of the failure. Licensor may participate in and observe the proceedings at its own cost
and expense with counsel of its own choosing.

		15.	Insurance. Throughout the Term and for a period of three (3)
years after the Term, Licensee shall, at its sole cost and expense, obtain, pay for and maintain in full force and effect commercial
general liability and professional liability (Errors and Omissions) insurance in commercially reasonable and appropriate amounts
that (a) provides product liability coverage concerning the Licensed Assets and contractual
liability coverage for Licensee’s defense and indemnification obligations under this Agreement, and (b)
in any event, provide commercial general liability limits of not less than One Million US dollars ($1,000,000) and professional
liability insurance limits of not less than One Million US dollars ($1,000,000), in each case as an annual aggregate for all claims
each policy year. To the extent any insurance coverage required under Section 16 is
purchased on a “claims-made” basis, such insurance shall cover all prior acts of
Licensee during the Term, and be continuously maintained until at least three (3) years beyond the expiration or termination of
the Term, or Licensee shall purchase “tail” coverage, effective upon termination of any such policy or upon termination
or expiration of the Term, to provide coverage for at least three (3) years from the occurrence of either such event. Upon request
by Licensor, Licensee shall provide Licensor with certificates of insurance or other reasonable written evidence of all coverages
described in Section 16. Additionally, Licensee shall provide Licensor with written notice at least sixty (60) Business Days prior
to Licensee cancelling, not renewing, or materially changing the insurance.

		16.	Term and
Termination.

		16.1	Term. This Agreement shall commence on the Effective Date and, unless terminated earlier
in accordance with Section 17.2, remain in force for each Licensed Asset and country
in the Territory on a Licensed-Product-by-Licensed-Product and country-by-country basis, for rights and obligations concerning
the Licensed Know-how, until five years after such time as the Licensed Know-how ceases to be protectable as a trade secret or
otherwise under applicable Law in such country other than as a result of any act or omission of Licensee or any Sublicensee (“Licensed
Know-how Term”).

16.2           
Termination for Cause. Licensor shall have the right to terminate this Agreement immediately
by giving written notice to Licensee if:

16.2.1      
Licensee fails to pay any amount due under this Agreement on the due date for payment and
remains in default not less than thirty (30) Business Days after Licensor’s written notice to make such payment, including
the payment of interest in accordance with Section 6.5.4;

16.2.2      
Licensee materially breaches this Agreement (other than through a failure to pay any amounts
due under this Agreement) and, if such breach is curable, fails to cure such breach within forty-five (45) Business Days of Licensor’s
written notice of such breach;

    	  

    	 

    

 

16.2.3      
Licensee: (i) becomes insolvent or admits its inability to pay its debts generally as they
become due; (ii) becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency
law, which is not fully stayed within ninety (90) Business Days or is not dismissed or vacated within ninety (90) Business Days
after filing; (iii) is dissolved or liquidated or takes any corporate action for such purpose; (iv) makes a general assignment
for the benefit of creditors; or (v) has a receiver, trustee, custodian or similar agent appointed by order of any court of competent
jurisdiction to take charge of or sell any material portion of its property or business; or

16.2.4      
Licensee undergoes a Change in Control.

		16.3	Effect of Termination. Within sixty (60) Business Days after termination or expiration
of this Agreement, Licensee shall: (a) submit a Payment Statement to Licensor, and
any payments due Licensor shall become immediately payable with submission of the final Payment Statement; (b)
immediately cease all activities concerning, including all practice and use of, the
Licensed Assets and Licensed Know-how; and (c) within sixty (60) Business Days after
termination or expiration: (i) return to Licensor all documents and tangible materials (and any copies) containing, reflecting,
incorporating or based on Licensor’s Confidential Information; (ii) permanently erase such Confidential Information from
its computer systems; and (iii) certify in writing to Licensor that it has complied with the requirements of Section 17.3(c).

		16.4	Survival. The rights and obligations of the parties set forth in Section 17.4
and Section 1 (Definitions), Section 6 (Royalties), Section 9 (Challenges to Licensed Assets), Section 12 (Confidentiality),
Section 13 (Representations and Warranties), Section 15 (Indemnification), Section 17.3 (Effect
of Termination) and Section 18 (Miscellaneous), and any right, obligation or required performance of the parties in this Agreement
which, by its express terms or nature and context is intended to survive termination or expiration of this Agreement, shall survive
any such termination or expiration.

		17.	Miscellaneous.

		17.1	Force Majeure. Neither party shall be in default hereunder by reason of any failure or
delay in the performance of its obligations hereunder, except for Licensee’s payment obligations, where such failure or delay
is due to any cause beyond its reasonable control, including strikes, labor disputes, civil disturbances, riot, rebellion, invasion,
epidemic, hostilities, war, terrorist attack, embargo, natural disaster, acts of God, flood, fire, sabotage, fluctuations or non-availability
of electrical power, heat, light, air conditioning or Licensee equipment, loss and destruction of property or any other circumstances
or causes beyond such party’s reasonable control.

		17.2	Further Assurances. Each party shall, and shall cause their respective Affiliates to, upon
the reasonable request, and at the sole cost and expense, of the other party, promptly execute such documents and take such further
actions as may be necessary to give full effect to the terms of this Agreement.

		17.3	Independent Contractors. The relationship between the parties is that of independent contractors.
Nothing contained in this Agreement shall be construed as creating any agency, partnership, joint venture or other form of joint
enterprise, employment or fiduciary relationship between the parties, and neither party shall have authority to contract for or
bind the other party in any manner whatsoever.

		17.4	No Public Statements. Neither party shall issue or release any announcement, statement,
press release or other publicity or marketing materials relating to this Agreement, or, unless
expressly permitted under this Agreement, otherwise use the other party’s trademarks, service marks, trade names, logos,
domain names or other indicia of source, association or sponsorship, in each case, without the prior written consent of the other
party, which shall not be unreasonably withheld or delayed.

 

    	  

    	 

    

 

		17.5	Notices. All notices, requests, consents, claims, demands, waivers and other communications
hereunder shall be in writing and shall be deemed to have been given in accordance with this Section:

If to Licensor:   Healthmation,
LLC

 

E-mail: seavey@healthimation.com]

Attention: Seavey Bowdoin,
Chief Operating Officer

59 Sagamore Street
Dorchester, MA 02125[J]

If to Licensee:  Nemaura
Medical Inc.

Facsimile: [FAX NUMBER]

E-mail: [E-MAIL ADDRESS

Attention: [TITLE OF OFFICER
TO RECEIVE NOTICES]

with copy to:Anthony,
L.G., PLLC

Attention:
Laura Anthony, Esq.

625 N. Flager
Drive, Suite 600

West Palm
Beach, FL 33401

E-mail: lanthony@anthonypllc.com

Notices
sent in accordance with Section 18.5 shall be deemed effectively given: (a) when received,
if delivered by hand (with written confirmation of receipt); (b) when received, if
sent by a nationally or regionally recognized expedited courier (receipt requested); (c)
on the date sent by facsimile (with confirmation of transmission), if sent during normal business hours of the recipient, and on
the next Business Day if sent after normal business hours of the recipient; or (d) on the date opened, if sent by e-email to the
email address of a specific, appropriate and intended recipient (with confirmation of the opening of the email).

18.6       Interpretation.
For purposes of this Agreement: (a) the words “include,” “includes”
and “including” shall be deemed to be followed by the words “without limitation”; (b)
the word “or” is not exclusive; and (c) the words “herein,”
“hereof,” “hereby,” “hereto” and “hereunder” refer to this Agreement as a whole.

Unless the context otherwise
requires, references herein: (x) to Sections and Schedules refer to the Sections of and Schedules attached to, this Agreement;
(y) to an agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and
modified from time to time to the extent permitted by the provisions thereof; and (z) to a statute means such statute as amended
from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. This Agreement shall
be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument
or causing any instrument to be drafted. Any Schedules referred to herein shall be construed with, and as an integral part of,
this Agreement to the same extent as if they were set forth verbatim herein.

		18.7	Headings. The headings in this Agreement are for reference
only and shall not affect the interpretation of this Agreement.

		18.8	Entire Agreement. This Agreement, together with all Schedules
and any other documents incorporated herein by reference, constitutes the sole and entire agreement of the parties to this Agreement
with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings and agreements,
both written and oral, with respect to such subject matter. In the event of any conflict between the terms and provisions of this
Agreement and those of any Schedule or other document, the following order of precedence shall govern: (a) first, this Agreement,
excluding its Schedules; (b) second, the Schedules to this Agreement as of the Effective Date; and (c) third, any other documents
incorporated herein by reference.

 

    	  

    	 

    

 

		18.9	Assignment. Licensee shall not assign or otherwise transfer any of its rights, or delegate
or otherwise transfer any of its obligations or performance, under this Agreement, in each case whether voluntarily, involuntarily,
by operation of law or otherwise, without Licensor’s prior written consent, which consent Licensor shall not unreasonably
withhold, condition or delay. No delegation or other transfer will relieve Licensee of any of its obligations or performance under
this Agreement. Any purported assignment, delegation or transfer in violation of Section 18.9 is void. Licensor may freely assign
or otherwise transfer all or any of its rights, or delegate or otherwise transfer all or any of its obligations or performance,
under this Agreement without Licensee’s consent. This Agreement is binding upon and inures to the benefit of the parties
hereto and their respective permitted successors and assigns.

		18.10	No Third Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto
and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon
any other Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Agreement.

		18.11	Amendment; Modification; Waiver.
This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No
waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the
waiving party. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any rights, remedy,
power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any
other right, remedy, power or privilege.

		18.12	Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable
in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement
or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon a determination that any term or other
provision is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as
to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the greatest extent possible.

		18.13	Governing Law; Submission to Jurisdiction.

		18.13.1	This Agreement and all related documents, and all matters arising out of or relating to this Agreement,
are governed by, and construed in accordance with, the laws of the State of Massachusetts,
United States of America, as applied to agreements performed wholly within the State of Massachusetts.

		18.13.2	Any action, suit or other proceeding arising out of or related to
this Agreement shall be instituted exclusively in the federal courts of the United States or the courts of the State of Massachusetts
in each case located in the city of Boston, and each party irrevocably submits to the exclusive jurisdiction of such courts in
any such suit, action or proceeding. Service of process, summons, notice or other document by mail to such party’s address
set forth herein shall be effective service of process for any action, suit or other proceeding brought in any such court.

		18.14	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 Agreement or the transactions contemplated hereby.

		18.15	Equitable Relief. Each party acknowledges that a breach by the other party of this Agreement
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. These remedies shall not be deemed to be exclusive but shall be in addition to all other remedies
available under this Agreement at law or in equity, subject to any express exclusions or limitations in this Agreement to the contrary.

		18.16	Attorneys Fees. In the event that any action, suit or other legal or administrative proceeding
is instituted or commenced by either party hereto against the other party arising out of or related to
this Agreement, the prevailing party shall be entitled to recover its actual attorneys’ fees and court costs from
the non-prevailing party.

		18.17	Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed
an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered
by facsimile, e-mail or other means of electronic transmission (to which a PDF copy is attached) shall be deemed to have the same
legal effect as delivery of an original signed copy of this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

 

FOR HEALTHIMATION,
LLC:

 

By: /s/ John P. Troup

Name: John P. Troup, Ph.D.

Title: C.E.O.

 

 

FOR NEMAURA MEDICAL INC.:

 

By: /s/ D.F. Chowdhury

Name: D F Chowdhury

Title: Chairman and CEO

 

 

 

    	  

    	 

    

 

 

SCHEDULE 4

TERRITORY

 

The Licensee shall have a license grant
in all territories outside of the USA under the Agreement.

In the USA Healthimation and Nemaura shall
work jointly to deliver a revised version of the WhyWait program in conjunction with Nemaura’s proBEAT product and service
offering.

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