Document:

License Agreement

 EXHIBIT 10.11 
  
 LICENSE AGREEMENT 
  
 This License Agreement (this “Agreement”) is made as of November 15, 1999, by and between Dr. Francesco DiVirgilio and Dr. Carlo Foresta (the
“Inventors”) and Duska Scientific Co., a Delaware corporation (“Duska”), with its principal offices at 24 Dartmouth Lane, Haverford, PA 19041-1020. 
  
 BACKGROUND 
  
 A. Inventors are the sole owners of certain intellectual property developed by them relating to uses of adenosine 5’-triphosphate (ATP) in enhancing
human sperm motility and fertilizing ability and in evaluating the fertilization potential of such sperm, as described more fully in Attachment 1 to this Agreement. 
  
 B. Inventors are the sole owners of the United States letters patent listed in Attachment 1 to this Agreement and any
related United States patent applications or foreign counterparts relating to the intellectual property developed by the Inventors as described above (all such patents, patent applications and intellectual property being hereinafter referred to as
the “Invention”). 
  
 C. Duska is a start-up company
that desires to obtain the worldwide, exclusive right and license to use, market and exploit the Invention. 
  
 D. The Inventors and Duska entered into a preliminary Agreement, dated May 7, 1999, pursuant to which Duska received a worldwide, exclusive license to the
Invention (the “Preliminary Agreement”), and the Inventors and Duska desire to enter into this Agreement as the definitive agreement covering the license of the Invention to Duska. 
  
 NOW, THEREFORE, in consideration of the promises and covenants contained in
this Agreement and intending to be legally bound, the parties agree as follows: 
  
 ARTICLE 1 
  
 LICENSE
GRANT 
  
 1.1 License Grant. The Inventors hereby grant
to Duska for the term of this Agreement an exclusive, worldwide license (the “License”) to the Invention and any related intellectual property owned by them in the area of adenosine or ATP for use in infertility, including without
limitation, U.S. Patent No. 5474890 and any subsequent United States or foreign patents issued based on the Invention and any subsequent improvements thereto made by the Inventors (collectively, the “Invention Licensed Property”). The
License includes the right to develop, make, have made, use, import, sell and offer for sale products based on the Invention Licensed Property and to sublicense third parties with respect to the foregoing. 
  

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 ARTICLE 2 
  

FEES AND ROYALTIES 
  
 2.1 License Initiation Fee and Royalties. 
  
 2.1.1 In consideration of the License, Duska (promptly after the execution of this Agreement) shall issue to Dr. DiVirgilio and Dr.
Foresta such number of shares (the “Purchased Shares”) of Duska Common Stock, no par value per share, (“Common Stock”) as will cause each of them to individually own shares of Common Stock representing 1% of the outstanding
shares of the capital stock of Duska on a fully diluted basis immediately following such issuance, assuming the exercise, conversion and/or exchange of all outstanding securities of Duska for or into shares of capital stock, all on the terms and
conditions as set forth in the stock purchase agreements between Duska and each of the Inventors (“Stock Purchase Agreements”), a copy of which is attached as Attachment 2. The Inventors acknowledge and agree that the issuance to each of
them of 1% of the outstanding capital stock is before the issuance to Drs. Pelleg and Schulman of shares of Duska common stock in consideration of the assignment and license by them to Duska of their ATP inventions, which will then reduce the
percentage of the total outstanding capital stock of Duska held by each of the Inventors to 0.96%. 
  
 2.1.2 In further consideration of the License, Duska shall pay to the Inventors an aggregate royalty equal to 5% of the Net Sales (as
hereinafter defined) of products sold directly by Duska based on the Invention Licensed Property and 5% of any royalty payments received by Duska from its sublicenses based on the Net Sales by such sublicenses. 
  
 2.1.3 Duska shall pay to the Inventors in the aggregate an
amount equal to 5% of any sublicense initiation fee or other similar payment paid by each sublicensee of Duska under this Agreement. Any non-cash consideration received by the Duska from such sublicensees shall be valued at its fair market value as
of the date of receipt. 
  
 2.1.4 “Net
Sales” means the consideration or fair market value attributable to the sale of any product, less qualifying costs directly attributable to such sale and actually identified on the invoice and borne by Duska or its sublicensee. Such qualifying
costs shall include without limitation the following: 
  
 (i) discounts, in amounts customary in the trade, for quantity purchases, for prompt payments and for wholesalers and distributors; 
  
 (ii) credits or refunds, not exceeding the original invoice amount, for claims or returns; 
  

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 (iii) prepaid outbound transportation expenses and transportation insurance premiums; and

  
 (iv) sales and use taxes and other fees
imposed by a governmental agency. 
  
 2.2 Diligence.

  
 2.2.1 Duska shall use its commercially
reasonable efforts to develop for commercial use and to market products based on the Invention Licensed Property. 
  
 2.2.2 Duska shall provide to the Inventors under a confidentiality agreement on each anniversary of the effective date of this Agreement,
written progress reports, setting forth: (a) the progress of the development, evaluation, testing and commercialization of each product based on the Invention Licensed Property; and (b) Duska’s strategic alliances with industry counterparts.

  
 2.3 Royalty Reports and Records. 
  
 2.3.1 Duska shall deliver to the Inventors within forty-five
(45) days (or 60 days if Duska has entered into a sublicense) after the end of each semi-annual calendar period a written report, certified by the President or Chief Financial Officer of Duska, setting forth the calculation of the royalties due to
the Inventors for such calendar quarter. 
  
 2.3.2 Duska shall pay the royalties due under Section 3.1 to the Inventors within forty-five (45) days (or 60 days if Duska has entered into a sublicense) following the last day of the semi-annual calendar period in which the royalties
accrue. 
  
 ARTICLE 3 
  
 TERM AND TERMINATION 
  
 3.1 Term. This Agreement, unless sooner terminated as provided in this
Agreement, terminates upon the expiration of the last to expire or become abandoned of the patents included in the Invention Licensed Property. Notwithstanding any provision in this Agreement to the contrary, Duska (and any sublicensee) shall have
no obligation to pay any royalties to the Inventors with respect to Net Sales of products made in any country in which there are no patents or patent applications covering such products comprising part of the Invention Licensed Property currently in
effect at the time of such sales. 
  
 3.2 Termination by
Duska. Duska may, upon sixty (60) days written notice to the Inventors, terminate this Agreement without any liability to the Inventors except as provided for elsewhere in this Agreement. 
  

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 3.3 Termination by Inventors. The Inventors may terminate this Agreement upon written notice to
Duska signed by both Inventors if any of the following events of default (“Default”) occur: 
  
 3.3.1 Duska is more than sixty (60) days late in paying to the Inventors any royalties due under this Agreement and Duska thereafter does
not within five business days pay the Inventors in full upon written demand; or 
  
 3.3.2 Duska breaches a material provision of this Agreement (other than a breach solely under Section 3.3.1) and does not cure the breach
within 60 days after written notice of the breach. 
  
 ARTICLE 4

  
 PATENT MAINTENANCE 
  
 Duska will retain control over, and will diligently prosecute and maintain at its sole
expense the patents and patent applications included in the Invention Licensed Property. Duska will consult with the Inventors prior to the filing of any patent application in any jurisdiction, but decisions as to the filing of patent applications
or maintenance of patents in any jurisdiction will be made by Duska at its sole discretion. Duska will furnish to the Inventors copies of all documents relevant to any such prosecution and maintenance. Duska will have the right at its sole
discretion to transfer the prosecution and maintenance of patents and patent applications to any experienced patent attorney of Duska’s choosing. 
  
 ARTICLE 5 
  
 INFRINGEMENT AND LITIGATION 
  
 5.1 Notification of Infringement. Duska and the Inventors will promptly notify each other promptly of any infringement of any patents and patent applications included in the Invention Licensed Property which
may come to their attention. Duska and the Inventors will consult one another in a timely manner concerning any appropriate response to the infringement. 
  
 5.2 Prosecution by Duska. Duska may prosecute any infringement described in Section 5.1 at its own expense. Duska shall not settle or compromise
any such suit in a manner that imposes any obligations on the Inventors without their prior written permission, which will not be unreasonably withheld. Financial recoveries from any such litigation will first be applied to reimburse Duska for its
litigation expenditures, with additional recoveries being paid to Duska, subject to any royalty due the Inventors based on the provisions of Article 2. 
  

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 5.3 Prosecution by Inventors. If Duska fails to prosecute any infringement, then the Inventors may
prosecute such infringement at their own expense. In such event, financial recoveries will first go to reimburse the Inventors for their litigation expense and then to Duska, subject to any royalties due to the Inventors pursuant to Article 2.

  
 5.4 Cooperation. In any action to enforce any of the
patent rights, either party, at the request and expense of the other party shall cooperate promptly and to the fullest extent reasonably possible. 
  
 ARTICLE 6 
  
 REPRESENTATIONS AND WARRANTIES; INDEMNIFICATION 
  
 6.1 Representations and Warranties. The Inventors represent and warrant that they are the sole owners of the Invention Licensed Property and that
they have the authority to enter into and perform this Agreement. To the best knowledge of the Inventors, none of the Invention Licensed Property infringes any patent, trade secret or other property or proprietary rights of any third party. The
Inventors hereby acknowledge that (i) Duska and its officers and directors have made no representations to them concerning the timing or probabilities of obtaining any governmental marketing approvals for any products covered by this Agreement or
the potential markets for these products; (ii) there is no assurance that any products will be successfully developed by Duska or governmental marketing approvals will be obtained or that commercially viable markets for such products will exist,
either with respect to the products covered by this Agreement or any other products as to which Duska may now or in the future have developmental rights; and (iii) development of the products covered by this Agreement will require expenditures
substantially in excess of Duska’s current financial resources and that there is no assurance that Duska will be able to generate sufficient capital to fund development of any of the products covered by the agreement. The Inventors also
represent that they have been advised by their own counsel (which is independent of Troy & Gould or any other counsel representing Duska) in connection with this Agreement. 
  
 6.2 Indemnification. The Inventors will indemnify, defend and hold Duska and Duska’s officers, directors,
shareholders, agents and employees harmless from and against any and all liability, loss, damage, action, claim or expense incurred by any of the foregoing parties excluding any consequential damages or lost opportunity profits or costs) resulting
from any breach of the Inventors’ representations, warranties or covenants under this Agreement, including without limitation any claims asserted by the Universita Degli Studi DeFerrare relating in any manner to the Invention Licensed Property.
Duska may offset amounts owed to it or its affiliated parties pursuant to the preceding sentence against royalties otherwise payable by Duska to the Investors or by cancellation of Purchased Shares having a fair market value equal to such amounts to
be offset. Duska will indemnify, defend and hold harmless to the extent of Duska’s assets (including any insurance policies) the Inventors, from and against any and all liability, loss, damage, action, claim or expense suffered or incurred by
them (including reasonable attorneys’ fees and expenses but excluding any consequential damages or lost opportunity profits or costs) that results from any breach by Duska of its covenants under this Agreement. 
  

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 ARTICLE 7 
  

ADDITIONAL PROVISIONS 
  
 7.1 No Agency. Nothing in this Agreement shall be deemed to establish a relationship of principal and agent between the Inventors and Duska or its
sublicensees, nor any of their agents or employees for any purpose whatsoever, nor shall this Agreement be construed as creating any other form of legal association or arrangement which would impose liability upon one party for the act or failure to
act of the other party. 
  
 7.2 Assignment. Duska and any
sublicensees are permitted to assign this Agreement or any part of it, either directly or by merger or other operation of law. 
  
 7.3 No Waiver. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other subsequent breach or condition,
whether of like or different nature. 
  
 7.4 Notices. All
notices, requests, consents and other communications hereunder shall be in writing and shall be delivered in person or sent overnight delivery by Federal Express or by certified or registered mail, return receipt requested, or telexed in the case of
non-U.S. residents, and shall be deemed to have been given when hand delivered, one (1) day after mailing when mailed by overnight courier (e.g. Federal Express or Express Mail) or five (5) days after mailing by registered or certified mail, as
follows (provided that notice of change of address shall be deemed given only when received): 
  
 If to the Inventors: 
  

			
	Dr. Francesco DiVirgilio	  	Dr. Carlo Foresta
	Universita Degli Studi DiFerrera	  	Universita Degli Studi DiFerrera
	Via L Bosari	  	Via L Bosari
	46-I-44100 Ferrara, Italia	  	46-I-44100 Ferrara, Italia

  
 If to Duska:

  
 Duska Scientific Co. 
 c/o Dr. Amir Pelleg 
 24 Dartmouth Lane

 Haverford, PA 19041-1020 
  

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 With a required copy to: 
  
 Dale Short, Esq. 
 Troy & Gould 
 Suite 1600 
 1801 Century Park East 
 Los Angeles, CA 90067 
  
 or to such other names or addresses as Duska or the Inventors, as the case may be, shall designate by notice to each other
person entitled to receive notices in the manner specified in this Section 7.4. 
  
 7.5 Governing Law and Jurisdiction. This Agreement shall be construed and governed in accordance with the laws of the Commonwealth of Pennsylvania, without giving effect to conflict of law provisions of any
jurisdiction. 
  
 7.6 Binding Nature of Agreement. This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors and assigns. 
  
 7.7 Integration and Amendment. This Agreement and the Stock Purchase Agreements embody the entire agreement and understanding among the parties
hereto and thereto and supersede all prior agreements and understandings relating to the subject matter hereof or thereof (including the Preliminary Agreement). This Agreement may not be changed, modified, extended or terminated except by written
amendment executed by an authorized representative of each party. 
  
 7.8 Severability. If any provision of this Agreement shall be held to be illegal, invalid or unenforceable, then such illegality, invalidity or unenforceability shall attach only to such provision and shall not in any manner affect
or render illegal, invalid or unenforceable any other provision of this Agreement, and this Agreement shall be carried out as if any such illegal, invalid or unenforceable provision were not contained herein. 
  
 7.9 Force Majeure. Any delay or failure to perform any part of this
Agreement arising from causes beyond the reasonable control of the party concerned shall not be deemed to be a default under this Agreement. Causes beyond the reasonable control of a party shall include, without limitation, acts of God, labor
disturbances or labor disputes of any kind, civil disorders or commotions, accidents, failure of any governmental approval required for full performance, acts of aggression, energy or other conservation measures imposed by law or regulation,
explosions, failure of utilities, mechanical breakdowns, material shortages, disease, year 2000 computer-related disruptions or other such occurrences. 
  

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 7.10 Scientific Advisory Board. Each of the Inventors agrees to serve on Duska’s Scientific
Advisory Board at no charge to Duska, except for reimbursement of the Inventors’ travel and other out-of-pocket expenses that are authorized in advance in writing by Duska. 
  
 IN WITNESS WHEREOF, the parties, intending to be legally bound, have caused this Agreement to be executed by their duly
authorized representatives. 
  

									
	 	 	 	 	 
				
	 	 	 /s/ Francesco DiVirgilia
	 	 	 	 DUSKA SCIENTIFIC CO.

	 DR. FRANCESCO DI VIRGILIO
	 	 	 	 	 	 
				
	 	 	 	 	By:	 	 /s/ Manfred Mosk

					
	 	 	 /s/ Carlo Foresta
	 	 	 	 Name:
	 	 Dr. Manfred Mosk

	 DR. CARLO FORESTA
	 	 	 	 Title:
	 	 Chairman of the Board

	 	 	 	 	 Date:
	 	 11-15-99

  

 -8-Development and Assignment Agreement

 EXHIBIT 10.12 
  
 DEVELOPMENT AND ASSIGNMENT AGREEMENT 
  
 This Development and Assignment Agreement (this “Agreement”) is made as of August 29, 2003, by and between Dr.
Francesco DiVirgilio, Dr. Davide Ferrari and Dr. Roberto Baricordi (collectively, the “Inventors”) and Duska Scientific Co., a Delaware, U.S.A. corporation (“Duska”). 
  
 BACKGROUND 
  
 A. Inventors are the sole owners of certain intellectual property developed by them relating to uses of adenosine 5’-triphosphate (ATP) in
combination with an antibiotic to eliminate tumor cells, as described more fully in Exhibit A to this Agreement (all such intellectual property being hereinafter referred to as the “Invention”). 
  
 B. Duska is an early stage biopharmaceutical company that is willing to
provide certain patent filing support to the Inventors and to carry the financial burden of completing the later stages of development and commercialization of products that are based on the Invention in exchange for acquiring ownership of the
Invention on the terms described herein. 
  
 NOW, THEREFORE, in
consideration of the promises and covenants contained in this Agreement and intending to be legally bound, the parties agree as follows: 
  
 ARTICLE 1 
  
 DEVELOPMENT OBLIGATIONS 
  
 1.1 Preliminary Patent Filing. As a first step, Duska will at its own expense promptly file a provisional patent application covering the Invention in the United States and for any other territory that Duska in
its sole discretion elects to file reflecting the Inventors as the inventors and Duska as the assignee of the Invention (the “Provisional Patent Application”). The Provisional Patent Application shall cover the claims for the Invention
described in Exhibit A to this Agreement. Duska shall be responsible for selecting patent counsel to file the Provisional Patent Application and for prosecuting the Provisional Patent Application. The Inventors shall provide all reasonable
assistance to Duska in preparing, filing and prosecuting the Provisional Patent Application and subsequent Final Patent Application (as defined in Section 1.2). 
  

1.2 Inventors Development Obligations. The Inventors shall use their best efforts to develop at their own expense appropriate in vivo
data supporting the safety and efficacy of the Invention (the “Supporting Data”) so as to enable Duska to file a patent application subsequent to the Provisional Patent Application in the United States and for any other territory that
Duska, in its discretion, elects to file reflecting the Inventors as the inventors of the Invention and Duska as the assignee of the Invention (the “Final Patent Application”). The Final Patent Application shall cover the claims for the
Invention described in Exhibit A to this Agreement. The Inventors will deliver the Supporting Data to Duska within not more than eight months from the date of 

  

 
this Agreement. The Inventors will coordinate their research plan for generating the Supporting Data with Duska and will carry out their research in a manner
that permits Duska to utilize the Supporting Data in the Final Patent Application and otherwise without the permission of any third party or claim by any third party to that data. The Inventors will not publish any of their findings in the field of
the Invention without first reviewing the proposed publication with Duska, and the Inventors will not publish or otherwise disclose any of their findings in the field that could adversely affect Duska’s ability to obtain patent coverage for the
Invention in the United States or any other territory. 
  
 1.3
Termination of Development Obligations. In the event the Inventors do not deliver the Supporting Data to Duska within eight months from the date of this Agreement that Duska believes is sufficient to support the filing and issuance of the
Final Patent Application, Duska shall have the right to terminate this Agreement by giving written notice of such termination to the Inventors. Upon termination of this Agreement pursuant to this Section 1.3, Duska will have no obligation to
continue to maintain or prosecute the Provisional Patent Application or any other obligation to the Inventors. In the event the Inventors fail to deliver the Supporting Data as required by this Section 1.3, Duska shall have the right, in lieu of
terminating this Agreement, to generate such Supporting Data at its own expense, in which case Duska shall be entitled to offset all of its direct and overhead costs in developing this data against the first amounts that it owes the Inventors under
Section 2.2. 
  
 ARTICLE 2 
  
 ASSIGNMENT OF INVENTION 
  
 2.1 Assignment. In consideration for Duska’s performance of its
obligations under this Agreement, the Inventors hereby jointly and severally assign to Duska effective as of the date of this Agreement all of their right, title and interest in and to the Invention and any related intellectual property owned by
them, including without limitation any interest they may have in the Provisional Patent Application, the Final Patent Application and any other related patents, patent applications or subsequent improvements thereto, whether United States or
foreign, which at any time may be granted, including any and all renewals, reissues, divisionals, and prolongations thereof or based thereon, including the right to sue for and recover all damages for past infringements (collectively, the
“Assigned Invention Property”). The Inventors will execute a form of assignment and otherwise cooperate with Duska in effecting the assignment of the Assigned Invention Property. 
  
 2.2 Payment for Assigned Invention Property. 
  
 2.2.1 In consideration of the assignment to Duska of the
Assigned Invention Property, Duska shall pay to the Inventors an aggregate royalty equal to 5% of the Net Sales (as hereinafter defined) of products sold directly by Duska in the United States based on the Assigned Invention Property and 2 1⁄2%
of the Net Sales of products sold directly by Duska outside the United States based on the Assigned Invention Property and 5% of any royalty payments received by Duska from its licensees based on the Net Sales of products in the United States based
on the Assigned Invention Property by such licensees and 2 1/2% of any royalty 

  

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payments received by Duska from its licensees based on the Net Sales of products outside the United States based on the Assigned Invention Property by such
licensees. 
  
 2.2.2 Duska shall pay to the
Inventors in the aggregate an amount equal to 5% of any license initiation fee or other similar payment paid by each licensee of Duska under this Agreement. Any non-cash consideration received by the Duska from such licensees shall be valued at its
fair market value as of the date of receipt. 
  
 2.2.3 “Net Sales” means the consideration or fair market value attributable to the sale of any product, less qualifying costs directly attributable to such sale and actually identified on the invoice and borne by Duska or its
licensee. Such qualifying costs shall include without limitation the following: 
  
 (i) discounts, in amounts customary in the trade, for quantity purchases, for prompt payments and for wholesalers and distributors;

  
 (ii) credits or refunds, not exceeding the
original invoice amount, for claims or returns; 
  
 (iii) prepaid outbound transportation expenses and transportation insurance premiums; and 
  
 (iv) sales and use taxes and other fees imposed by a governmental agency. 
  
 2.3 Diligence. 
  
 2.3.1 Duska shall use its commercially reasonable efforts to develop for commercial use and to market in the United States and such other
countries as Duska shall determine products based on the Assigned Invention Property, including being responsible for the clinical development, all regulatory matters and all commercialization issues relating to such products. 
  
 2.3.2 Duska shall provide to the Inventors under a
confidentiality agreement on each anniversary of the effective date of this Agreement, written progress reports, setting forth: (a) the progress of the development, evaluation, testing and commercialization of each product based on the Assigned
Invention Property; and (b) Duska’s strategic alliances with industry counterparts. 
  
 2.4 Royalty Reports and Records. 
  
 2.4.1 Duska shall deliver to the Inventors within 45 days (or 60 days if Duska has entered into a license) after the end of each semi-annual calendar period a written report, certified by the President or Chief
Financial Officer of Duska, setting forth the calculation of the royalties due to the Inventors for such calendar quarter. 
  

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 2.4.2 Duska shall pay the royalties due under Section 2.2 to the Inventors within 45 days
(or 60 days if Duska has entered into a license) following the last day of the semi-annual calendar period in which the royalties accrue. 
  
 ARTICLE 3 
  
 TERM AND TERMINATION 
  
 3.1 Term. This Agreement, unless sooner terminated as provided in this Agreement, terminates upon the expiration of the last to expire or become abandoned of the patents included in the Assigned Invention
Property. Notwithstanding any provision in this Agreement to the contrary, Duska (and any licensee) shall have no obligation to pay any royalties to the Inventors with respect to Net Sales of products made in any country in which there are no
patents or patent applications covering such products comprising part of the Assigned Invention Property currently in effect at the time of such sales. 
  
 3.2 Termination by Duska. Duska may, upon 60 days written notice to the Inventors, terminate this Agreement without any liability to the Inventors,
except as provided for elsewhere in this Agreement. 
  
 3.3
Termination by Inventors. The Inventors may terminate this Agreement upon written notice to Duska signed by all of the Inventors if any of the following events of default (“Default”) occur: 
  
 3.3.1 Duska is more than 60 days late in paying to the
Inventors any royalties due under this Agreement and Duska thereafter does not within five business days pay the Inventors in full upon written demand; or 
  
 3.3.2 Duska breaches a material provision of this Agreement (other than a breach solely under Section 3.3.1) and does not cure the breach
within 60 days after written notice of the breach. 
  
 ARTICLE 4

  
 PATENT MAINTENANCE 
  
 Duska will retain control over, and will diligently prosecute and maintain at
its sole expense the patents and patent applications included in the Assigned Invention Property. Duska will consult with the Inventors prior to the filing of any patent application in any jurisdiction, but decisions as to the filing of patent
applications or maintenance of patents in any jurisdiction will be made by Duska at its sole discretion. Duska will furnish to the Inventors copies of all documents relevant to any such prosecution and maintenance. Duska will have the right at its
sole discretion to transfer the prosecution and maintenance of patents and patent applications to any experienced patent attorney of Duska’s choosing. 
  

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 ARTICLE 5 
  

INFRINGEMENT AND LITIGATION 
  
 5.1 Notification of Infringement. Duska and the Inventors will promptly notify each other promptly of any infringement of any patents and patent
applications included in the Assigned Invention Property which may come to their attention. Duska and the Inventors will consult one another in a timely manner concerning any appropriate response to the infringement, with Duska to determine what
action, if any, to be taken in response to the infringement. 
  
 5.2 Prosecution by Duska. Duska may prosecute any infringement described in Section 5.1 at its own expense. Duska shall not settle or compromise any such suit in a manner that imposes any obligations on the Inventors without their
prior written permission, which will not be unreasonably withheld. Financial recoveries from any such litigation will first be applied to reimburse Duska for its litigation expenditures, with additional recoveries being paid to Duska, subject to any
royalty due the Inventors based on the provisions of Article 3. 
  
 5.3 Prosecution by Inventors. If Duska fails to prosecute any infringement, then the Inventors may prosecute such infringement at their own expense. In such event, financial recoveries will first go to reimburse the Inventors for
their litigation expense and then to Duska, subject to any royalties due to the Inventors pursuant to Article 2. 
  
 5.4 Cooperation. In any action to enforce any of the patent rights, either party, at the request and expense of the other party, shall cooperate
promptly and to the fullest extent reasonably possible. 
  
 ARTICLE 6 
  
 REPRESENTATIONS AND WARRANTIES;
INDEMNIFICATION 
  
 6.1 Representations and Warranties.
The Inventors represent and warrant that they are the sole owners of the Assigned Invention Property and that they have the authority to enter into and perform this Agreement. To the best knowledge of the Inventors, none of the Assigned Invention
Property infringes any patent, trade secret or other property or proprietary rights of any third party. The Inventors hereby acknowledge that (i) Duska and its officers and directors have made no representations to them concerning the timing or
probabilities of obtaining any governmental marketing approvals for any products covered by this Agreement or the potential markets for these products; (ii) there is no assurance that any products will be successfully developed by Duska or
governmental marketing approvals will be obtained or that commercially viable markets for such products will exist, either with respect to the products covered by this Agreement or any other products as to which Duska may now or in the future have
developmental rights; and (iii) development of the products covered by this Agreement will require expenditures substantially in excess of Duska’s current financial resources and that there is no assurance that Duska will be able to generate
sufficient capital to fund development of any of the products covered by the agreement. The Inventors also represent that they have been advised by their own counsel (which is independent of Troy & Gould or any other counsel representing Duska)
in connection with this Agreement. 
  

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 6.2 Indemnification. The Inventors will indemnify, defend and hold Duska and Duska’s
officers, directors, shareholders, agents and employees harmless from and against any and all liability, loss, damage, action, claim or expense incurred by any of the foregoing parties excluding any consequential damages or lost opportunity profits
or costs) resulting from any breach of the Inventors’ representations, warranties or covenants under this Agreement, including without limitation any claims asserted by the Universita Degli Studi DeFerrare relating in any manner to the Assigned
Invention Property. Duska may offset amounts owed to it or its affiliated parties pursuant to the preceding sentence against royalties otherwise payable by Duska to the Inventors. Duska will indemnify, defend and hold harmless to the extent of
Duska’s assets (including any insurance policies) the Inventors, from and against any and all liability, loss, damage, action, claim or expense suffered or incurred by them (including reasonable attorneys’ fees and expenses but excluding
any consequential damages or lost opportunity profits or costs) that results from any breach by Duska of its covenants under this Agreement. 
  
 ARTICLE 7 
  
 ADDITIONAL PROVISIONS 
  
 7.1 No Agency. Nothing in this Agreement shall be deemed to establish a relationship of principal and agent between the Inventors and Duska or its licensees, nor any of their agents or employees for any purpose
whatsoever, nor shall this Agreement be construed as creating any other form of legal association or arrangement which would impose liability upon one party for the act or failure to act of the other party. 
  
 7.2 Assignment. Duska may grant licenses to third parties to any of
its rights in the Assigned Invention Property. Duska and any licensees are permitted to assign this Agreement or any part of it, either directly or by merger or other operation of law. 
  
 7.3 No Waiver. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other
subsequent breach or condition, whether of like or different nature. 
  
 7.4 Notices. All notices, requests, consents and other communications hereunder shall be in writing and shall be delivered in person or sent overnight delivery by Federal Express or by certified or registered mail, return receipt
requested, or telexed in the case of non-U.S. residents, and shall be deemed to have been given when hand delivered, one (1) day after mailing when mailed by overnight courier (e.g. Federal Express or Express Mail) or five (5) days after mailing by
registered or certified mail, as follows (provided that notice of change of address shall be deemed given only when received): 
  

			
	If to the Inventors:	 	 Dr. Francesco DiVirgilio
 Universita Degli Studi DiFerrera
 Via L Bosari
 46-I-44100 Ferrara, Italia

  

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	 	 	 Dr. Davide Ferrari

		
	 	 	 
	 	 	 
	 	 	 
		
	 	 	 Dr. Roberto Baricordi

		
	 	 	 
	 	 	 
	 	 	 
		
	 If to Duska:
	 	 Duska Scientific Co.
 Two Bala Plaza, Suite 300
 Bala Cynwyd, Pennsylvania 19004
 Attention: Dr. Amir Pelleg

		
	 With a required copy to:
	 	 Dale Short, Esq.
 Troy & Gould
 Suite 1600
 1801 Century Park East
 Los Angeles, CA 90067

  
 or to such other names or addresses as
Duska or the Inventors, as the case may be, shall designate by notice to each other person entitled to receive notices in the manner specified in this Section 7.4. 
  
 7.5 Governing Law and Jurisdiction. This Agreement shall be construed and governed in accordance with the laws of the
Commonwealth of Pennsylvania, without giving effect to conflict of law provisions of any jurisdiction. Any dispute under this Agreement shall be resolved in the federal or state courts located in Philadelphia, Pennsylvania. 
  
 7.6 Binding Nature of Agreement. This Agreement shall be binding upon
and inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors and assigns. 
  
 7.7 Integration and Amendment. This Agreement embodies the entire agreement and understanding among the parties hereto and thereto and supersede
all prior agreements and understandings relating to the subject matter hereof or thereof. This Agreement may not be changed, modified, extended or terminated except by written amendment executed by an authorized representative of each party.

  
 7.8 Severability. If any provision of this Agreement
shall be held to be illegal, invalid or unenforceable, then such illegality, invalidity or unenforceability shall attach only to such provision and shall not in any manner affect or render illegal, invalid or unenforceable any other provision of
this Agreement, and this Agreement shall be carried out as if any such illegal, invalid or unenforceable provision were not contained herein. 
  

 - 7 - 

 7.9 Force Majeure. Any delay or failure to perform any part of this Agreement arising from causes
beyond the reasonable control of the party concerned shall not be deemed to be a default under this Agreement. Causes beyond the reasonable control of a party shall include, without limitation, acts of God, labor disturbances or labor disputes of
any kind, civil disorders or commotions, accidents, failure of any governmental approval required for full performance, acts of aggression, energy or other conservation measures imposed by law or regulation, explosions, failure of utilities,
mechanical breakdowns, material shortages, disease, or other such occurrences. 
  
 IN WITNESS WHEREOF, the parties, intending to be legally bound, have caused this Agreement to be executed by their duly authorized representatives. 
  

									
	 	 	 	 	 DUSKA SCIENTIFIC CO.

				
	 /s/ Dr. Francesco Di Virgilio
	 	 	 	 By:
	 	 /s/ Dr. Manfred Mosk

	 DR. FRANCESCO DI VIRGILIO
	 	 	 	 Name:
	 	 Dr. Manfred Mosk

				
	 /s/ Dr. David Ferrari
	 	 	 	 Title:
	 	 Chief Executive Officer

	 DR. DAVID FERRARI
	 	 	 	 	 	 
	 	 	 	 	 Date:
	 	 
				
	 /s/ Dr. Robert Baricordi
	 	 	 	 	 	 
	 DR. ROBERTO BARICORDI
	 	 	 	 	 	 

  

 - 8 -

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