Document:

Exhibit

Exhibit 10.2
AMENDED AND RESTATED
INSEEGO CORP.
2000 EMPLOYEE STOCK PURCHASE PLAN
SECTION 1
PURPOSE
Inseego Corp. hereby amends and restates the Novatel Wireless, Inc. 2000 Employee Stock Purchase Plan into this Inseego Corp. 2000 Employee Stock Purchase Plan, in order to provide eligible employees of the Company and its participating Subsidiaries with the opportunity to purchase Common Stock through payroll deductions.  The Plan is intended to qualify as an employee stock purchase plan under Section 423(b) of the Code.
SECTION 2
DEFINITIONS
2.1“1934 Act” means the Securities Exchange Act of 1934, as amended.  Reference to a specific Section of the 1934 Act or regulation thereunder shall include such Section or regulation, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.
2.2“Board” means the Board of Directors of the Company.
2.3“Code” means the Internal Revenue Code of 1986, as amended.  Reference to a specific Section of the Code or regulation thereunder shall include such Section or regulation, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.
2.4“Committee” shall mean the committee appointed by the Board to administer the Plan.  Any member of the Committee may resign at any time by notice in writing mailed or delivered to the Secretary of the Company.  As of the effective date of the Plan, the Committee shall be the Compensation Committee of the Board.
2.5“Common Stock” means the common stock of the Company.
2.6“Company” means Inseego Corp., a Delaware corporation.
2.7“Compensation” means a Participant’s regular wages.  The Committee, in its discretion, may (on a uniform and nondiscriminatory basis) establish a different definition of Compensation prior to an Enrollment Date for all options to be granted on such Enrollment Date.
2.8“Eligible Employee” means every Employee of an Employer, except (a) any Employee who immediately after the grant of an option under the Plan, would own stock and/or hold outstanding options to purchase stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any Subsidiary of the Company (including stock attributed to such Employee pursuant to Section 424(d) of the Code), (b) to the extent that such purchase would cause such Eligible Employee to have options or rights to purchase more than $25,000 in shares of Common Stock under the Plan (and under all other employee stock purchase plans of the Company and its Subsidiaries which qualify for treatment under Section 423 of the Code) for any calendar year in which such rights are outstanding (based on share price, determined as of the date such rights are granted), or (c) as provided in the following sentence.  The Committee, in its discretion, from time to time may, prior to an Enrollment Date for all options to be granted on such Enrollment Date, determine (on a uniform and nondiscriminatory basis) that an Employee shall not be an Eligible Employee if he or she: (1) has not completed at least two years of service since his or her last hire date (or such lesser period of time as may be determined by the Committee in its discretion), (2) customarily works not more than 20 hours per week (or such lesser period of time as may be determined by the Committee in its discretion), (3) customarily works not more than 5 months per calendar year (or such lesser period of time as may be determined by the Committee in its discretion), or (4)  is a highly compensated employee (within the meaning of Section 414(q) of the Code).
2.9“Employee” means an individual who is a common-law employee of any Employer, whether such employee is so employed at the time the Plan is adopted or becomes so employed subsequent to the adoption of the Plan.

2.10“Employer” or “Employers” means any one or all of the Company, and those Subsidiaries which, with the consent of the Board, have adopted the Plan.
2.11“Enrollment Date” means such dates as may be determined by the Committee (in its discretion and on a uniform and nondiscriminatory basis) from time to time.
2.12“Grant Date” means any date on which a Participant is granted an option under the Plan.
2.13“Participant” means an Eligible Employee who (a) has become a Participant in the Plan pursuant to Section 4.1 and (b) has not ceased to be a Participant pursuant to Section 7 or Section 8.
2.14“Plan” means the Inseego Corp. 2000 Employee Stock Purchase Plan, as set forth in this instrument and as hereafter amended from time to time.
2.15“Purchase Date” means such dates as may be determined by the Committee (in its discretion and on a uniform and nondiscriminatory basis) from time to time prior to an Enrollment Date for all options to be granted on such Enrollment Date.
2.16“Subsidiary” means any corporation in an unbroken chain of corporations beginning with the Company if each of the corporations other than the last corporation in the unbroken chain then owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.
SECTION 3
SHARES SUBJECT TO THE PLAN
3.1Number Available.  972,798 shares of Common Stock are currently available for issuance pursuant to the Plan.  Shares sold under the Plan may be newly issued shares or treasury shares.
3.2Adjustments.  In the event of any reorganization, recapitalization, stock split, reverse stock split, stock dividend, combination of shares, merger, consolidation, offering of rights or other similar change in the capital structure of the Company, the Board may make such adjustment, if any, as it deems appropriate in the number, kind and purchase price of the shares available for purchase under the Plan and in the maximum number of shares subject to any option under the Plan.
SECTION 4
ENROLLMENT
4.1Participation.  Each Eligible Employee may elect to become a Participant by enrolling or re-enrolling in the Plan effective as of any Enrollment Date.  In order to enroll, an Eligible Employee must complete, sign and submit to the Company an enrollment form in such form, manner and by such deadline as may be specified by the Committee from time to time (in its discretion and on a nondiscriminatory basis).  Any Participant whose option expires and who has not withdrawn from the Plan automatically will be re-enrolled in the Plan on the Enrollment Date immediately following the Purchase Date on which his or her option expires.  
4.2Payroll Withholding.  On his or her enrollment form, each Participant must elect to make Plan contributions via payroll withholding from his or her Compensation.  Pursuant to such procedures as the Committee may specify from time to time, a Participant may elect to have withholding equal to a whole percentage from 1% to 10%.  A Participant may elect to increase or decrease his or her rate of payroll withholding by submitting a new enrollment form in accordance with such procedures as may be established by the Committee from time to time.  A Participant may stop his or her payroll withholding by submitting a new enrollment form in accordance with such procedures as may be established by the Committee from time to time.  In order to be effective as of a specific date, an enrollment form must be received by the Company no later than the deadline specified by the Committee, in its discretion and on a nondiscriminatory basis, from time to time.  Any Participant who is automatically re-enrolled in the Plan will be deemed to have elected to continue his or her contributions at the percentage last elected by the Participant.
SECTION 5
OPTIONS TO PURCHASE COMMON STOCK
5.1Grant of Option.  On each Enrollment Date on which the Participant enrolls or re-enrolls in the Plan, he or she shall be granted an option to purchase shares of Common Stock.

5.2Duration of Option.  Each option granted under the Plan shall expire on the earliest to occur of (a) the completion of the purchase of shares on the last Purchase Date occurring within 6 months of the Grant Date of such option, (b) such shorter option period as may be established by the Committee from time to time prior to an Enrollment Date for all options to be granted on such Enrollment Date, or (c) the date on which the Participant ceases to be a Participant for any reason.  Until otherwise determined by the Committee for all options to be granted on an Enrollment Date, the period referred to in clause (b) in the preceding sentence shall mean the period from the applicable Enrollment Date through the last business day prior to the immediately following Enrollment Date.
5.3Number of Shares Subject to Option.  The number of shares available for purchase by each Participant under the option will be established by the Committee from time to time prior to an Enrollment Date for all options to be granted on such Enrollment Date, provided that the maximum number of shares available for purchase by each Participant under the option shall not exceed 5,000, subject to adjustment as provided in Section 3.2.
5.4Other Terms and Conditions.  Each option shall be subject to the following additional terms and conditions:
(a)payment for shares purchased under the option shall be made only through payroll withholding under Section 4.2;
(b)purchase of shares upon exercise of the option will be accomplished only in accordance with Section 6.1;
(c)the price per share under the option will be determined as provided in Section 6.1, provided that the price per share shall not be less than the par value per share; and
(d)the option in all respects shall be subject to such other terms and conditions (applied on a uniform and nondiscriminatory basis), as the Committee shall determine from time to time in its discretion.
SECTION 6
PURCHASE OF SHARES
6.1Exercise of Option.  Subject to Section 6.2, on each Purchase Date, the funds then credited to each Participant’s account shall be used to purchase whole shares of Common Stock.  Any cash remaining after whole shares of Common Stock have been purchased shall be carried forward in the Participant’s account for the purchase of shares on the next Purchase Date.  The price per Share of the Shares purchased under any option granted under the Plan shall be eighty-five percent (85%) of the lower of:
(a)the closing price per Share on the Grant Date for such option on the NASDAQ National Market System; and
(b)the closing price per Share on the Purchase Date on the NASDAQ National Market System.
6.2Delivery of Shares.  As directed by the Committee in its sole discretion, shares purchased on any Purchase Date shall be delivered directly to the Participant or to a custodian or broker (if any) designated by the Committee to hold shares for the benefit of the Participants.  As determined by the Committee from time to time, such shares shall be delivered as physical certificates or by means of a book entry system.
6.3Exhaustion of Shares.  If at any time the shares available under the Plan are over-enrolled, enrollments shall be reduced proportionately to eliminate the over-enrollment.  Such reduction method shall be “bottom up,” with the result that all option exercises for one share shall be satisfied first, followed by all exercises for two shares, and so on, until all available shares have been exhausted.  Any funds that, due to over-enrollment, cannot be applied to the purchase of whole shares shall be refunded to the Participants (without interest thereon).
SECTION 7
WITHDRAWAL
7.1Withdrawal.  A Participant may withdraw from the Plan by submitting a completed enrollment form to the Company.  A withdrawal will be effective only if it is received by the Company by the deadline specified by the Committee (in its discretion and on a uniform and nondiscriminatory basis) from time to time.  When a withdrawal becomes effective, the Participant’s payroll contributions shall cease and all amounts then credited to the Participant’s account shall be distributed to him or her (without interest thereon).

SECTION 8
CESSATION OF PARTICIPATION
8.1Termination of Status as Eligible Employee.  A Participant shall cease to be a Participant immediately upon the cessation of his or her status as an Eligible Employee (for example, because of his or her termination of employment from all Employers for any reason).  As soon as practicable after such cessation, the Participant’s payroll contributions shall cease and all amounts then credited to the Participant’s account shall be distributed to him or her (without interest thereon).  If a Participant is on a Company-approved leave of absence, his or her participation in the Plan shall continue for so long as he or she remains an Eligible Employee and has not withdrawn from the Plan pursuant to Section 7.1.
SECTION 9
ADMINISTRATION
9.1Plan Administrator.  The Plan shall be administered by the Committee.  The Committee shall have the authority to control and manage the operation and administration of the Plan.
9.2Actions by Committee.  Each decision of a majority of the members of the Committee then in office shall constitute the final and binding act of the Committee.  The Committee may act with or without a meeting being called or held and shall keep minutes of all meetings held and a record of all actions taken by written consent.
9.3Powers of Committee.  The Committee shall have all powers and discretion necessary or appropriate to supervise the administration of the Plan and to control its operation in accordance with its terms, including, but not by way of limitation, the following discretionary powers:
(a)To interpret and determine the meaning and validity of the provisions of the Plan and the options and to determine any question arising under, or in connection with, the administration, operation or validity of the Plan or the options;
(b)To determine any and all considerations affecting the eligibility of any employee to become a Participant or to remain a Participant in the Plan;
(c)To cause an account or accounts to be maintained for each Participant;
(d)To determine the time or times when, and the number of shares for which, options shall be granted;
(e)To establish and revise an accounting method or formula for the Plan;
(f)To designate a custodian or broker to receive shares purchased under the Plan and to determine the manner and form in which shares are to be delivered to the designated custodian or broker;
(g)To determine the status and rights of Participants and their Beneficiaries or estates;
(h)To employ such brokers, counsel, agents and advisers, and to obtain such broker, legal, clerical and other services, as it may deem necessary or appropriate in carrying out the provisions of the Plan;
(i)To establish, from time to time, rules for the performance of its powers and duties and for the administration of the Plan;
(j)To adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by employees who are foreign nationals or employed outside of the United States;
(k)To delegate to any one or more of its members or to any other person, severally or jointly, the authority to perform for and on behalf of the Committee one or more of the functions of the Committee under the Plan.
9.4Decisions of Committee.  All actions, interpretations, and decisions of the Committee shall be conclusive and binding on all persons, and shall be given the maximum possible deference allowed by law.
9.5Administrative Expenses.  All expenses incurred in the administration of the Plan by the Committee, or otherwise, including legal fees and expenses, shall be paid and borne by the Employers, except any stamp duties or transfer taxes applicable to the purchase of shares may be charged to the account of each Participant.  Any brokerage fees for the purchase of shares by a Participant shall be paid by the Company, but fees and taxes (including brokerage fees) for the transfer, sale or resale of shares by a Participant, or the issuance of physical share certificates, shall be borne solely by the Participant.

9.6Eligibility to Participate.  No member of the Committee who is also an employee of an Employer shall be excluded from participating in the Plan if otherwise eligible, but he or she shall not be entitled, as a member of the Committee, to act or pass upon any matters pertaining specifically to his or her own account under the Plan.
9.7Indemnification.  Each of the Employers shall, and hereby does, indemnify and hold harmless the members of the Committee and the Board, from and against any and all losses, claims, damages or liabilities (including attorneys’ fees and amounts paid, with the approval of the Board, in settlement of any claim) arising out of or resulting from the implementation of a duty, act or decision with respect to the Plan, so long as such duty, act or decision does not involve gross negligence or willful misconduct on the part of any such individual.
SECTION 10
AMENDMENT, TERMINATION, AND DURATION
10.1Amendment, Suspension, or Termination.  The Board, in its sole discretion, may amend or terminate the Plan, or any part thereof, at any time and for any reason.  If the Plan is terminated, the Board, in its discretion, may elect to terminate all outstanding options either immediately or upon completion of the purchase of shares on the next Purchase Date, or may elect to permit options to expire in accordance with their terms (and participation to continue through such expiration dates).  If the options are terminated prior to expiration, all amounts then credited to Participants’ accounts which have not been used to purchase shares shall be returned to the Participants (without interest thereon) as soon as administratively practicable.
10.2Duration of the Plan.  The Plan shall commence on the date specified herein, and subject to Section 10.1 (regarding the Board’s right to amend or terminate the Plan), shall remain in effect until June 18, 2024.
SECTION 11
GENERAL PROVISIONS
11.1Participation by Subsidiaries.  One or more Subsidiaries of the Company may become participating Employers by adopting the Plan and obtaining approval for such adoption from the Board.  By adopting the Plan, a Subsidiary shall be deemed to agree to all of its terms, including (but not limited to) the provisions granting exclusive authority (a) to the Board to amend the Plan, and (b) to the Committee to administer and interpret the Plan.  An Employer may terminate its participation in the Plan at any time.  The liabilities incurred under the Plan to the Participants employed by each Employer shall be solely the liabilities of that Employer, and no other Employer shall be liable for benefits accrued by a Participant during any period when he or she was not employed by such Employer.
11.2Inalienability.  In no event may either a Participant, a former Participant or his or her Beneficiary, spouse or estate sell, transfer, anticipate, assign, hypothecate, or otherwise dispose of any right or interest under the Plan; and such rights and interests shall not at any time be subject to the claims of creditors nor be liable to attachment, execution or other legal process.  Accordingly, for example, a Participant’s interest in the Plan is not transferable pursuant to a domestic relations order.
11.3Severability.  In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included.
11.4Requirements of Law.  The granting of options and the issuance of shares shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or securities exchanges as the Committee may determine are necessary or appropriate.
11.5Compliance with Rule 16b-3.  Any transactions under this Plan with respect to officers (as defined in Rule 16a-1 promulgated under the 1934 Act) are intended to comply with all applicable conditions of Rule 16b-3.  To the extent any provision of the Plan or action by the Committee fails to so comply, it shall be deemed null and void, to the extent permitted by law and deemed advisable by the Committee.  Notwithstanding any contrary provision of the Plan, if the Committee specifically determines that compliance with Rule 16b-3 no longer is required, all references in the Plan to Rule 16b-3 shall be null and void.
11.6No Enlargement of Employment Rights.  Neither the establishment or maintenance of the Plan, the granting of options, the purchase of shares, nor any action of any Employer or the Committee, shall be held or construed to confer upon any individual any right to be continued as an employee of the Employer nor, upon dismissal, any right or interest in any specific assets of the Employers other than as provided in the Plan.  Each Employer expressly reserves the right to discharge any employee at any time, with or without cause.

11.7Apportionment of Costs and Duties.  All acts required of the Employers under the Plan may be performed by the Company for itself and its Subsidiaries, and the costs of the Plan may be equitably apportioned by the Committee among the Company and the other Employers.  Whenever an Employer is permitted or required under the terms of the Plan to do or perform any act, matter or thing, it shall be done and performed by any officer or employee of the Employers who is thereunto duly authorized by the Employers.
11.8Construction and Applicable Law.  The Plan is intended to qualify as an “employee stock purchase plan” within the meaning of Section 423(b) of the Code.  Any provision of the Plan which is inconsistent with Section 423(b) of the Code shall, without further act or amendment by the Company or the Committee, be reformed to comply with the requirements of Section 423(b).  The provisions of the Plan shall be construed, administered and enforced in accordance with such Section and with the laws of the State of California (excluding California’s conflict of laws provisions).
11.9Captions.  The captions contained in and the table of contents affixed to the Plan are inserted only as a matter of convenience, and in no way define, limit, enlarge or describe the scope or intent of the Plan nor in any way shall affect the construction of any provision of the Plan.DARTMOUTH COLLEGE

SPONSORED RESEARCH AGREEMENT

SPONSOR AGREEMENT NO. FP4991

This Sponsored Research Agreement ("Agreement") is made and is effective as of 07/12/2018 ("Effective Date") by and between Trustees of Dartmouth College, a non-profit, private educational and research institution under the laws of the State of New Hampshire ("Dartmouth") and Qrons Inc., a publicly traded, preclinical biotechnology company with a principal place of business at 777 Brickell Avenue, Suite 500, Miami, FL 33131 ("Sponsor").

The parties wish to establish terms and conditions for Sponsor's support and funding of research conducted by Dartmouth, which is of mutual interest to the parties and furthers Dartmouth's educational and research objectives, consistent with Dartmouth's tax exempt status.

Sponsor is engaged in developing treatment for neuronal injuries with a focus on traumatic brain injuries. Sponsor has conducted extensive research independent of Dartmouth, to which it has Intellectual Property ownership which it retains and is not a subject matter of this Agreement.

The sponsored research is to advance the license or ownership of additional Intellectual Property, which Sponsor may elect to choose to use as part of its treatments. Nothing herein shall obligate Sponsor to make use of the research or incorporate it as part of its treatments, solutions or products.

In consideration of the mutual covenants and promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties agree as follows:

 

SECTION 1.  DEFINITIONS

	
1.1

	
 "Field of Use" means human and animal healthcare.

	
1.2

	
"Intellectual Property" means all patentable or copyrightable inventions, discoveries, software, formulae, processes, methods, techniques, and databases created in the performance of the Project under this Agreement. For clarity, Intellectual Property excludes Research Information as defined herein.

	
1.3

	
"IP Protection" shall means registration, application, filing, prosecution or maintenance of a patent or copyright for Intellectual Property.

	
1.4

	
"Patent(s)" means United States and international patents, patent applications and provisional applications, and: (i) the patents resulting from any of the foregoing applications; (ii) any divisions, continuations, and continuations-in-part to the foregoing (but only to the extent the claims are directed to subject matter specifically described in the said patent applications and for which the named inventors are identical to such applications); (iii) any foreign patent applications or patents that are equivalent to the foregoing; and (iv) any reissues, reexaminations or extensions of any of the foregoing.

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1.5

	
"Personnel" means employees, agents, contractors, or subcontractors of a party, and in the case of Dartmouth, includes faculty, researchers and/or students of Dartmouth.

	
1.6

	
"Principal Investigator" means Professor Chenfeng Ke of the Chemistry Department at Dartmouth.

	
1.7

	
"Project" means the research project set out in the "Statement of Work" that is Exhibit A to this Agreement, as amended from time to time in writing by duly authorized representatives of the parties.

	
1.8

	
"Project Funds" means those funds to be paid by Sponsor to Dartmouth for the Research Project in the amount of * ($*.) as set out in the Budget and Payment Schedule that is Exhibit B to this Agreement.

	
1.9

	
"Project Period" shall mean the period commencing as of 07/15/2018, and ending on 07/14/2019.  The Project Period may be extended by in writing by duly authorized representatives of the parties.

	
1.10

	
"Research Information" shall mean any research results produced by Personnel in the performance of the Project during the Project Period.  For clarity, Research Information shall not include research results that are included in the Intellectual Property as defined herein; rather, Research Information is intended to include information and reports relating to the Intellectual Property.

 

SECTION 2.  THE PROJECT

2.1 Research. Dartmouth shall use reasonable efforts to perform the Project in accordance with the Statement of Work during the Project Period.

2.2 Principal Investigator. Principal Investigator shall supervise the Project. If Principal Investigator is unable to supervise, the parties may agree in writing on a successor. Principal Investigator is not authorized to modify any term of this Agreement without prior written authorization of Dartmouth.

SECTION 3.  PROJECT FUNDS

3.1 Budget. Sponsor shall pay Dartmouth the Project Funds for direct and indirect costs incurred in the conduct of the Project in accordance with the Budget and Payment Schedule set out in Exhibit B to this Agreement. Dartmouth shall notify Sponsor of any anticipated funding deficiencies, and an estimate of additional funds required, and Sponsor may, in its discretion, provide Dartmouth all or part of such additional funds. Project Funds may not be increased without written authorization from Sponsor, and Dartmouth shall not be obligated to incur costs in excess of the Project Funds paid by Sponsor to Dartmouth.

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3.2 Payment. Commencement of the Project is conditioned on timely receipt of payment of Project Funds owed in advance of commencement pursuant to the Budget and Payment Schedule, which Sponsor shall pay upon execution of this Agreement and receipt of invoice from Dartmouth.

Invoices shall be sent to:

Todd Berube

Sponsored Research Manager

Dartmouth College

Office of Sponsored Projects

11 Rope Ferry Rd., #6210

Hanover, NH 03755-1420

Todd.J.Berube@Dartmouth.edu

Payment Instructions.  All Project Funds and other payments due to Dartmouth under this Agreement shall be paid in United States dollars and all checks shall be made payable to "Trustees of Dartmouth College," referencing Dartmouth's taxpayer identification number, 02-0222111, and sent to Dartmouth according to Section 11.5 (Notices), OR by electronic transfer as follows:

Wire to:

Bank Name:  Bank of America Merrill Lynch

Bank Address:  63 South Main Street Hanover, NH  03755

Name on Account:  Dartmouth College

Beneficiary on Account:  Trustees of Dartmouth College

Account Number:  

WIRE Routing Number:  0260-0959-3

or Swift Code (if foreign):  BOFAUS3N

Reference:  Jill Mortali, OSP Case No. FP4991

 

SECTION 4.  CONFIDENTIAL INFORMATION

	4.1	
Definition. The term "Confidential Information" shall include all information disclosed by one party "the Disclosing Party," to the other party "the Receiving Party," in any manner or media, which the Disclosing Party treats as confidential and is not publicly available, and which is marked as 'confidential' at the time of disclosure or, if disclosed orally or visually, is identified as confidential at the time of disclosure, reduced to written, printed, or other tangible form, marked as 'confidential',  and delivered to the other party within ten (10) days from the date of disclosure.

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	4.2	
Limitations on Disclosure and Use. The Receiving Party shall, for a period of seven (7) years after receipt of the Confidential Information, hold all Confidential Information in strictest confidence and shall not reproduce, disseminate, or disclose any part thereof in any manner or media without the prior written consent of the Disclosing Party.  The Receiving Party shall use all Confidential Information solely for the purpose of fulfilling its obligations pursuant to this Agreement and not for the benefit of any other person or entity.  Sponsor shall inform Dartmouth prior to the disclosure of any Confidential Information of Sponsor that is restricted from export from the United States (including, but not limited to, deemed export to foreign nationals in the US) and Dartmouth shall have the option to refuse receipt of such Sponsor Confidential Information, or any other Sponsor Confidential Information.

	4.3	
Permitted Disclosures. Confidential Information shall not include information disclosed by the Disclosing Party that (i) is already available without restriction to the general public, (ii) becomes available without restriction to the general public through no act or omission of the Receiving Party or any breach of this Agreement, (iii) is independently obtained by the Receiving Party without being subject to any confidentiality obligation, (iv) is independently developed or discovered by Receiving Party without use of Disclosing party's Confidential Information, as demonstrated by tangible records, or (v) is required to be disclosed by the Receiving Party in order to comply with any subpoena or other mandatory legal process or requirement.  Prior to disclosing any information pursuant to clause (v) above, the Receiving Party shall provide (if legally permitted under the circumstances) the Disclosing Party with prompt written notice of such request or requirement prior to disclosing the Confidential Information, disclose Confidential Information only to the extent specifically required, and cooperate reasonably with Disclosing Party's efforts to contest or limit the scope of the required disclosure.

 

SECTION 5.  PUBLICATIONS AND PRESENTATIONS; OTHER RESEARCH RIGHTS

5.1 Publications and Presentations. Dartmouth and Dartmouth Personnel shall have the right to publish or otherwise publicly disclose Research Information and information relating to Intellectual Property resulting from the Project, in accordance with this Section 5.

5.2 Sponsor Review. Dartmouth shall provide to Sponsor for prior review a draft of any manuscript, abstract or presentation that first publicly discloses Research Information or information relating to Intellectual Property resulting from the Project.  Within thirty (30) days of receipt of such  manuscript abstract or presentation ("Review Period"), Sponsor shall notify Dartmouth of any Sponsor Confidential Information contained in such proposed publication or presentation, and Dartmouth shall make modifications as necessary to avoid disclosure of Sponsor Confidential Information, except to the extent that such Confidential Information is required for meaningful publication of Research Information in accordance with generally accepted research and educational standards.  Subject to Section 5.3 below, Dartmouth shall then have the right to submit such Disclosure for publication without further delay.

 

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5.3 Delay of Publication for Patent Filings.  If Sponsor reasonably determines that such proposed publication or presentation reveals potentially patentable Intellectual Property to which Sponsor has rights under  Section 7, Sponsor shall notify Dartmouth in writing during the Review Period, and Dartmouth  shall delay submission of such proposed publication or presentation until the earliest to occur of the following:  (i) a patent application has been filed with respect to such Intellectual Property; (ii) Dartmouth and Sponsor have agreed in writing that no patentable invention exists or that a patent application should not be filed even if a patentable invention exists.

5.4 Other Research Rights.  Sponsor acknowledges that this Agreement shall not be construed to limit the freedom of Dartmouth or Dartmouth Personnel to engage in any research.  Notwithstanding any license that may be granted to Sponsor with respect to Intellectual Property owned by Dartmouth resulting from the Project, Dartmouth shall retain an irrevocable worldwide right to use such Intellectual Property on a non-exclusive royalty-free basis for research and education purposes, including in collaborations with other researchers, and Dartmouth shall retain the right to publish and disclose Research Information, subject to the provisions of Sections 4 and 5.

 

SECTION 6.  INTELLECTUAL PROPERTY

6.1 Ownership.Any Intellectual Property invented, reduced to practice, created, or developed solely by Dartmouth Personnel shall be owned by Dartmouth. Any Intellectual Property invented, reduced to practice, created, or developed solely by Sponsor Personnel shall be owned by Sponsor. Any Intellectual Property invented, reduced to practice, created, or developed jointly by Dartmouth and Sponsor Personnel shall be owned jointly by Dartmouth and Sponsor.

6.2 Disclosures.  Dartmouth will notify Sponsor, in confidence and in writing, of any Intellectual Property resulting from the Project that is reported to Dartmouth pursuant to Dartmouth's policies regarding Intellectual Property then in effect ("Disclosure"). Disclosures made by Dartmouth pursuant to this section and any documents and discussions between Sponsor and Dartmouth directly relating to the Disclosures shall be kept confidential and shall not be disclosed to third parties or used in any manner except in connection with the performance of obligations under this Agreement, unless and until they become publicly available through no fault of Sponsor. Upon receipt of Disclosure, Sponsor may request that Dartmouth pursue IP Protections in any country at Sponsor's expense in accordance with Section 7.3 below.

6.3 Joint Intellectual Property.  In the event that either party desires to obtain any IP Protection for Intellectual Property, such party will notify the other party and the parties shall agree upon Patent strategy and cost allocation.  Each party agrees to execute documentation necessary in connection therewith.  Title to all Patents issued on Intellectual Property jointly owned pursuant to Section 6.1 shall be joint and each party shall have the right to grant licenses under such jointly owned Patents to third parties, with the right to sublicense thereunder, without accounting to the other and without seeking the consent of the other party; except to the extent that Sponsor has exercised its License Option for an exclusive license or entered into a License Agreement  for an exclusive license as provided in Section 7, in which case, subject to Section 5.4 above, such licensing rights shall belong exclusively to Sponsor.  In the event that consent by each joint owner is deemed necessary for a party to non-exclusively license such a jointly owned patent, each party hereby consents to the other party's grant of licenses to third parties under the jointly owned patent and agrees it shall execute any document or do any other reasonable act deemed necessary to evidence such consent.

6.4          Existing and Future Intellectual Property.  During the term of this Agreement, each of the parties may use the existing intellectual property of the other party that exists as of the Effective Date, or which may be created outside of the Project, solely for the purpose of performing the Project. Unless expressly stated herein, nothing contained in this Agreement shall cause the transfer or license of any ownership rights in such separate intellectual property, and each party shall continue to maintain such separate ownership. Subsequent to the expiration or termination of this Agreement the parties may create future additional intellectual property. Nothing contained in this Agreement shall cause the transfer or license of any ownership rights in such future additional intellectual property

 

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SECTION 7.  OPTIONS and LICENSES

7.1 Research Licenses.  Each party will have a non-exclusive, non-transferable, non-royalty bearing license to use and make derivative works of the Intellectual Property of the other party solely for the purpose of fulfilling its obligations to complete the Project, and Sponsor may further use Dartmouth Intellectual Property solely for internal research purposes to evaluate whether or not Sponsor is interested in licensing the Intellectual Property from Dartmouth.

7.2 Use of Research Information.  Sponsor shall have the right to use Research Information to the extent that such use (a) does not pre-empt Dartmouth Personnel's publication or public disclosure of Research Information and (b) is not covered by any Dartmouth intellectual property, including but not limited to copyrights and/or Patents that have not been expressly licensed to Sponsor.

7.3 License Option.  Dartmouth hereby grants to Sponsor an exclusive right to elect an option to license Dartmouth Intellectual Property and/or Dartmouth's ownership interest in jointly owned Intellectual Property in the Field of Use , such exclusive right to be exercised within sixty (60) days after notification to Sponsor by Dartmouth that such license is available; however, such option shall not be available to Sponsor if Sponsor is in breach of this Agreement, if Sponsor or any of Sponsor's affiliates, parents or subsidiaries is in breach of any license agreement with Dartmouth, or if this Agreement has been terminated because of a breach by Sponsor. If Sponsor elects an option under this Section, Sponsor shall notify Dartmouth of those foreign countries in which it desires IP Protection in sufficient time to satisfy the patent law requirements of those countries, and shall reimburse Dartmouth for the out-of-pocket costs, including patent filing, prosecution, maintenance, and attorneys fees, related to all patent filings.

 

7.4 License Agreement.  If Sponsor exercises its option under Section 7.3, the parties shall reasonably and in good faith negotiate the terms and conditions of a license based on mutually-agreeable economic conditions based on the prevailing market standards and rates at the time and which are usual and customary in the industry and subject to Dartmouth's policies and standard terms and conditions. The license will be subject to Sponsor's agreement to (a) reimburse Dartmouth for the costs of patent prosecution and maintenance in the United States and any foreign country elected under Section 7.3, (b) demonstrate reasonable efforts to commercialize the technology in the public interest, and (c) comply with any applicable laws and regulations.  Dartmouth will negotiate exclusively with Sponsor for up to one hundred eighty (180)  days from the date of written notification to Dartmouth of Sponsor's election, or such additional period as is agreed by the parties in writing ("Negotiation Period"), if Sponsor reimburses Dartmouth for all IP Protection costs and related expenses during the Option and Negotiation Periods.

 

     If the parties do not enter into a license agreement within the Negotiation Period, or if Sponsor fails to reimburse Dartmouth for all IP Protection costs and related expenses during the Option and Negotiation Periods, Sponsor's exclusive rights under Section 7.3 will expire.

7.5 Rights to Use Names and Marks.  Neither Sponsor nor Dartmouth shall use the other party's name, trademarks or other logos, or the names of any individuals involved in the Project, including, but not limited to, the Principal Investigator and other Personnel, without the prior written consent of the other party; however, Sponsor's funding may be acknowledged in any publication or public presentation concerning the Project, and each party has the right to publish the fact that Sponsor has made an award to Dartmouth with a brief public abstract.

7.6 No Additional Rights.  The Parties acknowledge and agree that nothing in this Agreement shall be construed to grant Sponsor any license or rights other than the rights expressly granted in accordance with this Section 7.

 

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SECTION 8.  DISCLAIMER OF WARRANTIES; LIABILITY LIMITS; INDEMNIFICATION

8.1 DISCLAIMER OF WARRANTIES.  NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY, DARTMOUTH MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, CONCERNING THE PERFORMANCE OR RESULTS OF RESEARCH RELATING TO THE PROJECT OR ANY RELATED INTELLECTUAL PROPERTY, INCLUDING, BUT NOT LIMITED TO, REPRESENTATIONS AND WARRANTIES AS TO NON‐INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE.

8.2 LIABILITY LIMITATION.  NEITHER SPONSOR NOR DARTMOUTH SHALL BE LIABLE FOR ANY INCIDENTAL, CONSEQUENTIAL, SPECIAL OR OTHER ECONOMIC DAMAGES, SUCH AS LOSS OF ANTICIPATED BUSINESS OR PROFITS, SUFFERED BY THE OTHER PARTY IN CONNECTION WITH THIS AGREEMENT, THE PROJECT OR ANY RELATED INTELLECTUAL PROPERTY, INCLUDING, BUT NOT LIMITED TO, ANY USE OR COMMERCIALIZATION THEREOF.

8.3 INDEMNIFICATION. SPONSOR SHALL INDEMNIFY, HOLD HARMLESS AND DEFEND DARTMOUTH, ITS TRUSTEES, OFFICERS, REPRESENTATIVES, AND PERSONNEL ("INDEMNITEES") AGAINST ANY AND ALL  DAMAGES, LOSSES, LIABILITIES, LOSS, JUDGMENT, OR COSTS (INCLUDING REASONABLE ATTORNEY'S FEES AND EXPENSES OF LITIGATION) INCURRED BY OR IMPOSED ON ANY OF THE INDEMNITEES IN CONNECTION WITH ANY CLAIMS, SUITS, ACTIONS, OR DEMANDS BROUGHT BY A THIRD PARTY UNDER ANY THEORY OF LIABILITY DIRECTLY OR INDIRECTLY ARISING AS A RESULT OF OR IN CONNECTION WITH SPONSOR'S USE OR COMMERCIALIZATION OF THE RESULTS OF THE RESEARCH PROJECT OR ANY RELATED INTELLECTUAL PROPERTY ("Claims").

8.4 Procedures. Sponsor shall provide attorneys reasonably acceptable to Dartmouth to defend against any Claims, whether or not rightfully brought; provided, however, that any Indemnitee shall have the right to retain its own counsel, at Sponsor's expense, if representation of the Indemnitee by counsel retained by Sponsor would create actual or potential conflicts of interests of the Indemnitee and any other party represented by such counsel. Sponsor shall keep Dartmouth informed of the progress and Dartmouth shall cooperate with Sponsor in the defense and disposition of Claims.  Sponsor shall not settle any Claim without Dartmouth's prior written consent, which consent will not be unreasonably withheld, conditioned or delayed. If Sponsor does not accept the defense of any Claims, Dartmouth shall have the right to defend such Claims and Sponsor will promptly reimburse all of Dartmouth's costs, expenses, liabilities and damages (including any amounts payable in settlement).

SECTION 9.  EXPORT COMPLIANCE.

Sponsor shall inform Dartmouth prior to the disclosure of any information of Sponsor that is restricted from export from the U.S. (including, but not limited to, deemed export to foreign nationals in the U.S.).  All rights granted to Sponsor in connection with this Agreement, the Project and the Intellectual Property resulting from the Project are subject to compliance with U.S. laws and regulations controlling the export of technical data, computer software, laboratory prototypes and other commodities.  Sponsor shall not, directly or indirectly, export any such controlled commodities in connection with this Agreement, the Project or the Intellectual Property resulting from the Project, unless the required authorization and/or license is obtained from the proper governmental authorities prior to export.  By granting Sponsor rights in this Agreement, the Project and the Intellectual Property resulting from the Project, Dartmouth does not represent that an export authorization and/or license will not be necessary or, if necessary, that such authorization and/or license will be granted.

 

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SECTION 10.  TERM; TERMINATION; ACTIONS UPON TERMINATION; SURVIVAL OF OBLIGATIONS

10.1 Termination.  This Agreement will terminate at the end of the Project Period, or may be terminated prior to the expiration of the Project Period as follows:

(a) By written agreement of the parties, effective upon the date set forth in such agreement;

(b) By either party in the event the other party fails to cure any material breach of this Agreement within thirty (30) days after receipt from the terminating party of written notice reasonably describing such breach, such termination to be effective upon receipt of written notice from the terminating party after the expiration of the 30-day cure period;

(c) By either Sponsor or Dartmouth in the event the Principal Investigator is no longer able to conduct the Research Project on behalf of Dartmouth and a reasonable successor acceptable to both parties is not available, effective upon receipt of written notice from the terminating party; or

(d) Pursuant to Section 11.4, in the event of unauthorized assignment.

10.2 Actions upon Termination.  Upon any termination of this Agreement:

(a) Sponsor shall not be obligated to make any further payments of Project Funds to Dartmouth pursuant to Exhibit B;

(b) Notwithstanding termination of the Agreement, Dartmouth shall be entitled to  payments of Project Funds by Sponsor for direct and indirect costs incurred in connection with the Research Project prior to termination of this Agreement, including non-cancelable commitments for property or services.

(c) Dartmouth shall deliver to Sponsor within ninety (90) days after termination of this Agreement a final accounting report of all Project Funds received and direct and indirect costs incurred in connection with the Research Project, including non-cancelable commitments for property or services, such as student or postdoctoral support and

 

10.3 Survival of Obligations.  Notwithstanding anything in this Agreement to the contrary, the provisions of Sections 4, 5, 6, 7, 8, 9, 10, 11.1, 11.2, and 11.5 shall survive any expiration or termination of this Agreement, and each party shall remain obligated under any other provisions that expressly or by their nature survive any expiration or termination of this Agreement.

SECTION 11.  MISCELLANEOUS

11.1 Dispute Resolution; Remedies Cumulative.  If any dispute or disagreement arises between the Parties, then, prior to initiating any litigation or formal dispute resolution, they will follow the following procedures in an attempt to resolve the dispute or disagreement: upon the written request of either party, each of the parties will appoint a designated representative to attempt to resolve such dispute or disagreement.  The designated representatives will discuss the problem and negotiate in good faith in an effort to resolve the dispute without any formal proceedings.  The specific format of such discussion shall be left to the discretion of the designated representatives.  No litigation for the resolution of such dispute may be commenced until the designated representatives have met and either party has concluded in good faith that amicable resolution through continued negotiation does not appear likely (unless either party fails or refuses to appoint a designated representative and schedule a meeting of such representatives within thirty (30) days after a request to do so by the other party). The rights and remedies provided in this Agreement are cumulative in nature and shall be in addition to any such other rights and remedies available at law and in equity.

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11.2 Governing Law; Venue and Consent to Jurisdiction.  This Agreement, and all disputes arising in connection with this Agreement and the subject matter herein, will be governed by and construed in accordance with the laws of the State of New Hampshire, without giving effect to its conflict of laws principles, except that questions affecting the construction and effect of any patent shall be determined by the law of the country in which the patent shall have been granted. Sponsor agrees that it shall not bring any suit against Dartmouth, its trustees, officers, or Personnel with respect to this Agreement in any court other than a court of the State of New Hampshire in Grafton County or the United States Federal District Court for the State of New Hampshire in Concord, NH. Sponsor consents to the jurisdiction of such courts in the event that Dartmouth shall bring any suit against Licensee with respect to this Agreement and Sponsor expressly waives all claims and defenses of Forum Non Conveniens or inappropriate venue.

11.3 Force Majeure.  Either party's delayed performance under this Agreement may be temporarily excused without liability, if such delay is a result of causes or conditions beyond that party's control and without that party's fault or negligence (such causes or conditions specifically do not include the financial incapacity to pay); provided, however, that such party must diligently pursue actions to remedy such cause or condition.

11.4 Assignment. This Agreement is personal to Sponsor and no rights or obligations may be assigned by Sponsor without the prior written consent of Dartmouth, except to a successor in connection with the merger, consolidation, or sale of all or substantially all of its assets or equity or that portion of its business to which this Agreement relates; provided, however, that  this Agreement shall immediately terminate if the proposed assignee fails to agree in writing to be bound by the terms and conditions of this Agreement on or before the effective date of the assignment.

11.5 Notices.  All notices or other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been delivered to a party upon: (i) personal delivery to that party; (ii) if simultaneously mailed as provided herein, upon: (a) electronically confirmed delivery by facsimile to the telephone number provided by the party for such purposes; or (b) electronic mail transmission to the electronic mailbox provided by the party for such purposes; (iii) upon deposit for overnight delivery with a bonded courier holding itself out to the public as providing such services, with charges prepaid:

 

DARTMOUTH:            SPONSOR:

ATTN: Jill M. Mortali, Director  ATTN: Jonah Meer, CEO

Dartmouth College                       50 Battery Pl, #7F

Office of Sponsored Projects                                                                                                    New York, NY 10280

11 Rope Ferry Road, #6210

Hanover, NH 03755

Phone: 603-646-3007      Phone: 786-620-2410

Fax: 603-646-9694                                                                                                           Fax:     508-629-0074

Email: sponsored.projects@dartmouth.edu                                                                             Email: jmeer@qrons.com

11.6 Entire Agreement; Order of Precedence. This Agreement, including all exhibits hereto, constitutes the entire agreement of the Parties, and supersedes any prior and contemporaneous agreements, either oral or written, between the Parties hereto with respect to the subject matter hereof.  For clarity sake the parties acknowledge that they are parties to Option Agreement # A-2017-0145 dated as of September 27, 2017, which is unaffected by this Agreement and remains in full force and effect. Each Party acknowledges that no representations, inducements, promises, or agreements, oral or otherwise, have been made by the other Party, or anyone acting on behalf of the other Party, that are not embodied herein, and that no other agreement, statement, or promise not contained in this Agreement shall be valid or binding.  The terms of this Agreement take precedence over the terms of any purchase order or similar document issued by a Party, which may be accepted by the other Party for administrative convenience only.

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11.7 Counterparts; Validity of Electronic Copies; Amendments; Waivers.  This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together shall constitute one and the same instrument.  An executed copy of this Agreement that is delivered by facsimile or other electronic means shall be sufficient to show execution and delivery thereof. This Agreement may be amended only by a written document signed by authorized representatives of both parties.  No waiver of any provision of this Agreement will be valid or binding unless set forth in writing and signed by the party granting the waiver.  No failure by a party to exercise, and no delay by a party in exercising, any right hereunder will operate as a waiver of such right, nor will any single or partial exercise by a party of any right hereunder preclude any future exercise of that right, or any other right, by that party. The provisions of this Agreement shall not be construed more favorably toward one party than the other party as a result of one party being the primary drafter of the Agreement.  Section and other headings in this Agreement are for convenience of reference only and shall not affect, expressly or by implication, the meaning or interpretation of any of the provisions hereof.

11.8 Binding Effect; No Third Parties Beneficiaries.  This Agreement shall be binding upon, and inure to the benefit of, the Parties and their respective successors and permitted assigns.  Nothing in this Agreement is intended to confer on any person or entity, other than the Parties and their respective successors and permitted assigns.

11.9 Severability.  If any term or condition of this Agreement is determined to be invalid or unenforceable in whole or in part for any reason, this Agreement shall be reformed to be valid and enforceable consistent with the intention of the parties as expressed herein to the greatest extent permitted by law.

11.10 Independent Contractor Relationship; No Third Party Beneficiaries.  Sponsor and Dartmouth intend to be independent contractors under this Agreement, and neither party shall conduct itself in a manner inconsistent with such independent contractor status or shall have the authority to enter into contracts on behalf of the other party.  Nothing in this Agreement nor any performance hereunder is intended, or shall be construed, to create a partnership, joint venture or other form of business enterprise, or relationship of agency or employment, between the parties, or between the Personnel of one party and the other party. Nothing in this Agreement, express or implied, is intended to confer, any benefits, rights or remedies on any person, other than the parties hereto and their successors and permitted assigns.

[Signature page follows.]

 

 

 

10

 

 

IN WITNESS WHEREOF, both Dartmouth and Sponsor have executed this Agreement, in duplicate originals, by their respective and duly authorized officers on the day and year written.

	
QRONS, INC.

	 	
TRUSTEES OF DARTMOUTH COLLEGE:

	 	 	 
	
By: /s/Jonah Meer

	 	
By: /s/ Heather A. Arnold

	
Name: Jonah Meer

	 	
Name: Heather A. Arnold M.Ed.

	
Title: CEO

	 	
Title: Associate Director

	
Date:July 12, 2018

	 	
Date: July 12, 2018

	 	 	 

ACKNOWLEDGED AND AGREED:

By signing below, I acknowledge and agree that (i) I have read and understand the terms of the Research Agreement between Qrons and Dartmouth including all Exhibits and Attachments  (ii) I shall at all times conduct myself in a manner consistent with Dartmouth's duties and obligations under this Agreement, including the confidentiality, intellectual property and publication provisions of this Agreement.

Principal Investigator:

	
/s/Chenfeng Ke

	 	
Chenfeng Ke

	
July 12, 2018

	
Signature

	 	
Printed Name

	
Date

 

Others on Project team:

____________________________   _________________________    ____________

Signature Printed Name       Date

____________________________   _________________________    ____________

Signature Printed Name       Date

____________________________   _________________________    ____________

Signature Printed Name       Date

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