Document:

Exhibit 10.1

 

Certain identified information has been
excluded from the exhibit because it is both (i) not material and (ii) would likely cause competitive harm to the Company, if publicly
disclosed. Double asterisks denote omissions.

 

EXCLUSIVE
DEVELOPMENT AND DISTRIBUTION AGREEMENT

 

This Exclusive Development
and Distribution Agreement (this “Agreement”) is entered into as of July 20, 2020 (the “Effective Date”),
by and between Zimmer, Inc., a Delaware corporation (“Zimmer”), and NeuroOne Medical Technologies Corporation,
a Delaware corporation (the “Company”). Zimmer and the Company are referred to individually as a “Party”
and together as the “Parties”. Capitalized terms used herein, to the extent not otherwise defined, have the meanings
specified in Exhibit A.

 

BACKGROUND

 

A. Zimmer
and its Affiliates develop, manufacture and sell medical products.

 

B. The
Company has developed technology, including Strip/Grid Products, relating to the use of electrodes for neurosurgical applications,
including the diagnosis of epilepsy.

 

C. The
Parties intend to collaborate in the development of SEEG Products and Electrode Cable Assembly Products for neurosurgical diagnostic
applications, including the diagnosis of epilepsy.

 

D. The
Parties desire for Zimmer and its Affiliates to become the exclusive distributor of certain products of the Company, including
the Strip/Grid Products and the SEEG Products that are developed as a result of the Parties’ efforts under this Agreement, in accordance
with the terms and conditions of this Agreement.

 

AGREEMENT

 

In consideration of
the mutual covenants set forth in this Agreement, and intending to be legally bound, the Parties hereby agree as follows:

 

ARTICLE
I

DEVELOPMENT

 

1.1. Project
Scope. The Parties will collaborate in carrying out a project (the “Project”) to Develop the following Products
for use in neurosurgical applications:

 

(a) Strip/Grid
Products;

 

(b) SEEG
Products; and

 

(c) Electrode
Cable Assembly Products.

 

    1

     

    

 

1.2. Development
Plan. The initial development plan for the Project is set forth in the documents attached as Exhibit B and the documents
referenced therein (collectively, as amended as provided herein, the “Development Plan”). At any time within ninety
(90) days after the Effective Date, Zimmer shall have the right, but not the obligation, to cause the initial Development Plan
to be amended to include an Approved Design Modification by delivering written notice to the Company (a “Design Modification
Notice”). Upon receipt of a Design Modification Notice, the Parties shall mutually determine, in good faith, the amendments
to be made to the Development Plan. Following agreement on the required amendments, the Parties shall continue to implement the
Development Plan, as so amended. The initial Development Plan may be further amended from time to time by the JDC as contemplated
by Section 1.8.

 

1.3. Development
Responsibility; Approval Rights; Project Managers. Except as otherwise expressly stated in this Agreement or the Development
Plan, the Company shall be responsible for performing all development activities contemplated by the Development Plan. Following
the Effective Date, the Company shall not enter into any consulting agreement or other services agreement with, or pay any compensation
to, any health care professional for any purpose related to the Products without the prior written consent of Zimmer (which shall
not be unreasonably withheld). Zimmer shall be responsible for providing reasonable support, assistance and consultation to the
Company with respect to the Project and shall have the right to review and approve any and all aspects of the design of the SEEG
Products and associated instrumentation and Electrode Cable Assembly Products pertaining to the critical features identified for
each such Product on Exhibit C. The Company hereby designates [**] as its project manager for its responsibilities
in connection with the Project and Zimmer hereby designates [**] as its project manager for its responsibilities in connection
with the Project. Either party may designate in writing to the other party an alternative project manager at its sole discretion.

 

1.4. Efforts;
Costs. Each Party will use Commercially Reasonable Efforts to perform and complete in a timely fashion its responsibilities
in connection with the Project. Except as otherwise expressly stated in this Agreement or the Development Plan, each Party shall
be responsible for such costs and expenses incurred by such Party in connection with the Project. For the avoidance of doubt, Zimmer
shall be responsible for all costs and expenses related to the Commercialization of the Products in the Territory and the Company
shall be responsible for all costs and expenses related to the Development of the Products and the submission and prosecution of
all regulatory filings required for Regulatory Approvals in the Territory; provided, however, Zimmer and the Company acknowledge
and agree that the Products for all countries in the Territory outside of United States will be based upon the Products for which
Regulatory Approval has been received by the Company in the United States and to the extent Zimmer or any Regulatory Authority
outside of the United States requires additional changes to the Products or additional actions or requirements beyond the submission
and prosecution of regulatory applications for such Products in such country, then the Company and Zimmer shall negotiate in good
faith and agree to the allocation between the Parties of the costs and expenses related such additional changes to the Products
or such additional actions or requirements. Zimmer acknowledges and agrees that all Regulatory Approvals for the Products in the
Territory will be owned by the Company.

 

    2

     

    

 

1.5. Records.
The Company will maintain records of its activities under the Development Plan in sufficient detail and in a good scientific manner
appropriate for patent and regulatory purposes, including (a) the Design History Files, laboratory notebooks and invention disclosures
in reasonable detail to enable the preparation and submission of patent applications covering all patentable subject matter, and
(b) data and documentation (including instructions for use, user manuals and risk analysis) sufficient in form and substance to
enable the Regulatory Filings contemplated by Section 7.2. The records maintained by the Company shall include all information
required to be included therein by Zimmer’s quality systems.

 

1.6. Audit
Rights. Zimmer will have the right, solely with respect to the Project and the Products, at Zimmer’s sole cost and expense,
upon fifteen (15) days’ prior notice to the Company and during regular business hours, to inspect and audit the Company’s
records, facilities and operations for the purpose of verifying that the Company is using Commercially Reasonable Efforts to develop
the Products. Zimmer shall not be permitted to exercise the audit rights set forth in this Section 1.6 more than twice during
any calendar year of the Term (as defined below).

 

1.7. Exclusivity.
During the Term, the Company and Zimmer shall be exclusive development and commercial partners with respect to the development
and Commercialization of the Products and related components to the Products, and the Company and Zimmer shall not (a) engage in
or perform any development activities with respect to the Products and related components to the Products, with or for the benefit
of any other Person, or (b) manufacture, market, sell or distribute the Products and related components to the Products, to any
other person or entity except as provided under this Agreement; provided, however, that nothing in this Section
1.7 shall prevent the Company or Zimmer from (x) utilizing third-party contract engineering, manufacturing or other development
resources in connection with the internal development of the Products or such related components or (y) acquiring and owning any
entity engaged in the business of developing, manufacturing, marketing, selling or distributing electrodes or other products or
technology that is similar to or competitive with the Products; provided, however, if Zimmer acquires or directly or indirectly
owns a controlling interest in any entity engaged in the business of developing, manufacturing, marketing, selling or distributing
electrodes for the diagnosis of epilepsy (a “Competitive Triggering Event”), the Company shall have the right
to terminate this Agreement, in the Company’s sole discretion pursuant to the terms and conditions of Section 10.3(d)
of this Agreement following such Competitive Triggering Event provided that the Company pays to Zimmer the Competitive Triggering
Event Termination Fee.

 

1.8. Joint
Development Committee.

 

(a) The
Project Participants will coordinate their development activities through a joint development committee (the “JDC”)
comprising two representatives of each Project Participant. The initial representatives of the Company will be [**] and [**] and
the initial representatives of Zimmer will be [**] and [**]. The JDC will be co-chaired by one representative of each Project Participant
selected by such Project Participant. The Project Participants will consult in good faith regarding any changes to the individuals
serving on the JDC. Subject to reasonable advance notice, a Project Participant may invite other members of its organization to
attend a particular meeting, but any such additional attendee shall not have any of the rights or responsibilities of a formally
appointed representative.

 

    3

     

    

 

(b) Authority.
The JDC shall have the authority to approve modifications to the Development Plan, the Regulatory Filing strategy, the Specifications
and the Other Product Specifications; otherwise, the JDC shall be a consultative, rather than decision-making, body. For the avoidance
of doubt, the JDC shall have no authority to amend any of the terms or conditions of this Agreement or the MS Agreement. All approvals
of the JDC shall require unanimous consent; provided that, if the JDC is unable to reach unanimous agreement on a matter within
its authority, then the Company’s CEO and a designated representative to be identified by Zimmer from Zimmer will negotiate
in good faith to decide the matter; provided, however the Parties acknowledge and agree in the event of any modifications to the
Development Plan, the Regulatory Filing strategy, the Specifications or the Other Product Specifications, the Parties shall revise
the deadlines set forth in Section 6.1(c) to reflect such modifications.

 

(c) Meetings.
The JDC will meet in accordance with a schedule established by agreement of the Project Participants, but no less frequently than
quarterly, from the Effective Date until the Date of the First Commercial Sale of the last Product to achieve commercial sales,
and as needed thereafter. Meetings may be held remotely if so agreed. Each Project Participant will use Commercially Reasonable
Efforts to cause its representatives to attend the JDC meetings and will be responsible for the expenses incurred by its own representatives
in participating in the JDC. The co-chairs will be responsible for distributing an agenda for each meeting at least three days
in advance of the meeting. Each Project Participant will have the right to request the co-chairs to include any matter or issue
within the purview of the JDC, which requests will be accommodated by the co-chairs to the extent feasible. The co-chairs will
alternate responsibility for generating and circulating minutes of each meeting (which will include a summary of any actions agreed
at the meeting) to each appointed representative for review and comment. Any corrections or comments must be submitted to the co-chairs
within ten Business Days after the draft minutes have been circulated.

 

(d) Duration.
The JDC will operate until the Date of the First Commercial Sale of the last Product to achieve a First Commercial Sale, and as
needed thereafter.

 

ARTICLE
II

INTELLECTUAL PROPERTY

 

2.1. Development
License Grant. In consideration of the potential benefits to the Company by reason of the Project, during the Term, the Company
hereby grants to Zimmer a non-exclusive, royalty-free license under the IP that is owned by the Company, under the control of the
Company or to which the Company otherwise has access and that is necessary for or otherwise useful to the Project (the “Company
Background IP”), without the right to grant sublicenses (except to its Affiliates), for the sole purpose of conducting
the Project. Such license and any such sublicenses shall survive completion of the Project and shall continue for the remaining
Term of this Agreement and for so long as Zimmer continues to sell or distribute any Products under this Agreement. The Company
shall own and retain all right, title and interest in and to the Company Background IP.

 

    4

     

    

 

2.2. Program
IP.

 

(a) Ownership.
The rights of ownership of Program IP shall be determined in accordance with United States patent and other intellectual property
laws (regardless of where the Program IP was invented, conceived, discovered, created, made, developed, reduced to practice or
otherwise perfected or exists). Notwithstanding the foregoing, as between Zimmer and the Company, all right, title and interest
in and to Program IP shall be determined as follows:

 

(i) Zimmer
shall own all right, title and interest in all Program IP that is invented, conceived, discovered, created, made, developed, reduced
to practice or otherwise perfected solely by one or more employees, agents or consultants of Zimmer, its Affiliates or subcontractors
(“Zimmer Program IP”);

 

(ii) the
Company shall own all right, title and interest in all Program IP that is invented, conceived, discovered, created, made, developed,
reduced to practice or otherwise perfected solely by one or more employees, agents or consultants of the Company, its Affiliates
or subcontractors (“Company Program IP”).

 

(iii) Zimmer
and the Company shall jointly own all right, title and interest in all Program IP that is invented, conceived, discovered, created,
made, developed, reduced to practice or otherwise perfected by one or more employees, agents or consultants of Zimmer, its Affiliates
or subcontractors together with one or more employees, agents or consultants of the Company, its Affiliates or subcontractors (“Joint
Program IP”).

 

(b) Assignment
and Assistance. Each of Zimmer and the Company hereby, on behalf of themselves and each of their respective Affiliates, employees
and contractors, assigns to one another ownership of rights, title and interest in and to such Program IP to effect the ownership
allocation set forth in Section 2.2(a). In furtherance of the foregoing, each such Party shall, upon request by the other,
promptly undertake and perform (and/or cause its Affiliates and its and their respective contractors, employees and/or agents to
promptly undertake and perform) such further actions as are reasonably necessary for Zimmer and the Company (as between them) to
each perfect its title in any such Program IP, including by causing the execution of any assignments or other legal documentation,
and/or providing the other Party or its patent counsel with reasonable access to any contractors, employees or agents who may be
inventors of such Program IP.

 

(c) Rights
of Use in Joint Program IP. For clarity, Zimmer and the Company shall co-own any and all Joint Program IP with the ability
to use and sublicense such Joint Program IP for any and all purposes, in perpetuity, without the need to account to the other (subject,
in all cases, to any other applicable terms of this Agreement).

 

    5

     

    

 

2.3. Program
Patent Rights.

 

(a) Prosecution.
The Company will use Commercially Reasonable Efforts to Prosecute Program Patent Rights claiming Company Program IP of commercial
interest or importance in the Designated Jurisdictions and shall be responsible for all costs and expenses associated therewith.
The Company will use Commercially Reasonable Efforts to Prosecute Program Patent Rights claiming Joint Program IP of commercial
interest or importance in the Designated Jurisdictions, in consultation with Zimmer, and the Company and Zimmer shall equally split
the external costs associated therewith. At the request and expense of the Company, Zimmer shall provide reasonable assistance
in connection with the Prosecution of Program Patent Rights claiming Joint Program IP. The Parties shall actively consult with
each other in connection with the Prosecution of such Program Patent Rights and shall have the right to participate in all strategic
decisions and to review and comment on all filings. The Company shall keep Zimmer informed of all material developments relating
to such Prosecution. Notwithstanding the foregoing, in the event the Company is unwilling or unable to Prosecute Program Patent
Rights as set forth in this Section 2.3(a), the Company shall give Zimmer full control of all such Prosecution efforts and
shall assign any such Program Patent Rights to Zimmer, after which (i) Zimmer shall bear all costs and expenses associated with
the Prosecution of such Program Patent Rights; (ii) the Company shall cooperate with Zimmer to complete, execute, and provide to
Zimmer any and all documents necessary to facilitate such control by Zimmer, including documents sufficient to appoint and convey
powers of attorney to Prosecution counsel of Zimmer’s choosing in each of the foregoing jurisdictions and, if necessary,
to withdraw any Prosecution counsel previously appointed by the Company; (iii) Zimmer shall have no obligation to consult with
the Company or otherwise keep the Company informed in connection with the Prosecution of such Program Patent Rights; and (iv) absent
a request from Zimmer, the Company shall have no right to participate in any strategic decision or to review or comment on any
filings with respect to such Prosecution.

 

(b) Zimmer
Program IP. For the avoidance of doubt, Zimmer shall have the sole and exclusive right, in its discretion, to Prosecute Program
Patent Rights contained within the Zimmer Program IP and the Company shall have no rights in connection therewith.

 

2.4. Zimmer
Distribution Licenses.

 

(a) The
Company hereby grants to Zimmer and its Affiliates the exclusive right and license under the Company IP to use, promote,
market, sell, offer for sale, distribute, import/export and otherwise Commercialize and to have others do any of the
foregoing on their behalf the Strip/Grid Products and the Electrode Cable Assembly Products in the Territory for all uses and
applications in the Field (the “Strip/Grid Distribution License”). The Strip/Grid Distribution License shall
remain exclusive for the Strip/Grid Exclusive License Period as provided in Section 10.2(a) unless this Agreement is
terminated earlier by a Party in accordance with the terms set forth in this Agreement. In addition to the Strip/Grid
Distribution License, the Company hereby grants to Zimmer and its Affiliates the exclusive right and license under the
Company IP to use, promote, market, sell, offer for sale, distribute, import/export and otherwise Commercialize and to have
others do any of the foregoing on their behalf the SEEG Products in the Territory for all uses and applications in the Field
(the “SEEG Distribution License” and, together with the Strip/Grid Distribution License, individually, a
“Zimmer Distribution License” and collectively, the “Zimmer Distribution Licenses”). The
SEEG Distribution License shall remain exclusive for the SEEG Exclusive License Period as provided in Section 10.2(a); provided
that the SEEG Distribution License shall become non-exclusive immediately following the sixtieth (60th) day after
the Product Availability Date for SEEG Products (the “SEEG Exclusivity Confirmation Date”), unless Zimmer
pays to the Company the SEEG Exclusivity Maintenance Fee on or prior to the SEEG Exclusivity Confirmation Date; and provided, further,
that, if (i) Zimmer timely delivers a Design Modification Notice, and (ii) the Product Availability Date for SEEG Products
occurs on or prior to [**], the portion of the SEEG Exclusivity Maintenance Fee consisting of the Interim Fee Bonus provided
for in Section 6.1(c)(iv) shall not be required to be paid prior to the SEEG Exclusivity Confirmation Date, and such
portion shall be payable, if earned, no later than [**]. During the Term, the Company shall grant Zimmer and its Affiliates
access to the Intellectual Property included in the Company IP to the extent necessary to facilitate their ability to exploit
the Zimmer Distribution Licenses.

 

    6

     

    

 

(b) During
the Term, each Zimmer Distribution License shall be exclusive, even as to the Company itself. So long as a Zimmer Distribution
License is exclusive, the Company will not, directly or indirectly, promote, market, sell, distribute or otherwise Commercialize
the Products in the Territory for any use in the Field, either on its own behalf or through any Affiliate or Third Party without
Zimmer’s prior written consent.

 

(c) Zimmer
shall have the right to grant sublicenses under the Zimmer Distribution Licenses, including the right to authorize its Affiliates
and Distributors to participate (each a “Subdistributor”), subject to the terms of this Agreement, in the use,
promotion, marketing, sale, distribution and Commercialization of the Products in accordance with this Agreement and all Applicable
Laws anywhere in the Territory for any use in the Field. In the event that any Subdistributor takes any action that would constitute
a breach of the terms of this Agreement or violates any laws relating to the sale, marketing, promotion or distribution of the
Product in any country within the Territory, then Zimmer shall use its Commercially Reasonable Efforts to cause such Subdistributor
to remedy such breach or violation.

 

(d) The
Company shall not grant distribution rights with respect to SEEG Products to any Third Party during the SEEG Exclusive License
Period, or make any commitment or enter into any contract, license or agreement that would conflict with, frustrate, impede or
adversely impact, diminish the benefit of, or render ineffective Zimmer’s rights under this Section 2.4(d).

 

2.5. Third
Party Intellectual Property. Except as specifically provided for in this Agreement, in a written agreement between the Company
and a Third Party existing on the date hereof, or as may be specifically agreed between the Company and Zimmer during the Term
of the Project, the Company shall not use any third party intellectual property rights in undertaking its development efforts.

 

    7

     

    

 

2.6. Enforcement
of Rights. If either Party learns of any infringement or violation by a Third Party of any Program IP, it shall notify the
other Party as soon as practicable. Thereafter, the Parties shall consult on a course of action with respect to such infringement
or violation. Unless otherwise agreed to by the Parties in the course of their consultations, the Company shall have the first
right to bring and control any claim, action or proceeding against such Third Party for such infringement or violation of the Program
IP (an “Enforcement Action”) by counsel of its own choice. If the Company fails to initiate any such Enforcement
Action within the earlier of 90 days following notice of the basis therefor or 30 days before the expiration of any applicable
time limit for bringing such Enforcement Action, then Zimmer shall have the right to bring and control any such Enforcement action
by counsel of its own choice. If Zimmer lacks standing to bring such Enforcement Action, then the Company shall be obligated to
bring such Enforcement Action if so requested by Zimmer. In all events, the non-controlling Party shall have the right to be represented
in any such Enforcement Action by counsel of its own choice. If the Party bringing any such Enforcement Action is unable to initiate
or Prosecute it solely in its own name, the other Party shall join in voluntarily and shall execute all documents necessary to
enable the initiating Party to Prosecute and maintain such Enforcement Action. In connection therewith, the Parties shall cooperate
fully and provide each other with any information or assistance reasonably requested. Each Party shall keep the other informed
of developments, including the status of settlement negotiations. Neither Party shall settle such Enforcement Action without the
prior written consent of the other Party, which consent shall not be unreasonably withheld, conditioned or delayed. Each Party
shall bear its own costs and expenses in connection with the Enforcement Action, but shall be entitled to full reimbursement thereof
out of any recovery or monetary award realized in connection therewith. After such reimbursement, the balance of any recovery or
monetary award shall be allocated between the Parties in proportion to the relative economic losses suffered by each, as determined
by the Parties in good faith.

 

2.7. Defense
of Infringement Claims. If any Third Party asserts a Claim against a Party (or any of its Affiliates or Distributors) alleging
that any Product, the use or practice of the Program IP or any activity pursuant to this Agreement infringes, misappropriates or
violates the Intellectual Property Rights of any Third Party (any such Claim being referred to as an “Infringement Claim”),
the Party first having notice of the Infringement Claim shall promptly notify the other Party thereof in writing specifying the
facts, to the extent known, in reasonable detail. The Company shall indemnify Zimmer with respect to Infringement Claims pursuant
to Section 8.4.

 

2.8. Use
of Zimmer Trademarks. If directed by Zimmer in writing, the Company shall place onto the Products shipped to Zimmer (or the
packaging for such Products) the designated Zimmer Trademarks and part numbers. In the event that any Products so labeled are not
delivered to Zimmer, whether due to scrap, rejection, cancellation of orders or otherwise, the Company shall promptly remove and
destroy or, at the request of Zimmer, return to Zimmer, any and all labels, name plates, or other Trademarks placed on the Products.
The Company shall not use the “Zimmer Biomet”, “Zimmer” or “Biomet” names or any Zimmer Trademarks
except as provided in this Agreement and in accordance with Zimmer’s policies regarding the use of such names or Trademarks, and
any use of the names “Zimmer Biomet “, “Zimmer” or “Biomet” by the Company in labeling, advertisements
and other similar usages shall be subject to the prior written approval of Zimmer. Upon termination of this Agreement or upon the
request of Zimmer, the Company will discontinue the use of all Zimmer Trademarks, including the names “Zimmer Biomet”,
“Zimmer” and “Biomet”, and, thereafter, will not use any of the Zimmer names or Trademarks in any manner except
as may be expressly permitted by other agreements between the Company and Zimmer.

 

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2.9. Promotion
Limitation. The Company covenants that it shall not use the “Zimmer Biomet”, “Zimmer” or “Biomet”
names or any Zimmer Trademarks, in any advertising or promotion by the Company (whether by including reference to Zimmer in any
list of customers, advertising that its services and products are used by Zimmer, denying or confirming the foregoing or for any
other purposes) without advance written permission from Zimmer. Notwithstanding the above, the Company can use the “Zimmer
Biomet”, “Zimmer” or “Biomet” names or any Zimmer Trademarks, for: (a) press announcements or other communications
consistent with Zimmer’s own public announcements or regulatory filings or this Agreement; (b) press announcements or other
communications consistent with medical publications and/or abstracts related to the Product; and (c) as required by law or regulation.

 

2.10. Trademark
License. Zimmer and its Affiliates and Distributors will have the right to use the Company’s Trademarks associated with
the Products as required by applicable Regulatory Laws or as otherwise necessary in connection with Zimmer’s marketing and
distribution of the Products. Zimmer and its Affiliates and Distributors shall comply with the reasonable quality control instructions
of the Company as to the form and manner in which such Trademarks are used. Other than as expressly provided in this Agreement,
no Party shall acquire or have any right to use the name or Trademarks of the other Party without its prior written consent.

 

2.11. Rights
upon Company Insolvency. Each of the Zimmer Distribution License and the licenses granted under Section 2.1 herein shall
be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code (and any similar laws of other countries),
a license of rights to “intellectual property” as defined therein. Zimmer and its Affiliates, as licensees of such rights,
shall have the rights and elections with respect thereto as specified in the United States Bankruptcy Code (and any similar laws
of other countries). If a bankruptcy or similar proceeding is commenced by or against the Company and the Company (or a trustee
or other Person acting on its behalf) thereafter rejects this Agreement or fails to perform all of its obligations hereunder, then
Zimmer and its Affiliates shall be entitled to retain their rights under this Agreement (and under any agreement supplementary
hereto) as such rights existed prior to commencement of such proceeding.

 

2.12. No
Reverse Engineering. The Parties agree not to reverse engineer any Products, except to the extent permitted by this Agreement
or to the extent enforcement of the foregoing is prohibited by Applicable Law.

 

2.13. Development
of Related Instruments. Zimmer shall have the sole right (at Zimmer’s sole cost and expense) to design, Develop and Commercialize
Related Instruments itself or through third-party developers or vendors, which may include the Company. No Intellectual Property
created, discovered or developed directly related to the design, Development or Commercialization of the Related Instruments shall
be Program IP for purposes of this Agreement and all Intellectual Property Rights with respect thereto shall belong to Zimmer.
To the extent requested by Zimmer, the Company shall include one or more of the Related Instruments in its Regulatory Filings and
Regulatory Approvals, and Zimmer shall provide to the Company all information reasonably requested by the Company for the purpose
of making such Regulatory Filings or obtaining such Regulatory Approvals and with respect to such Related Instruments that are
included by the Company in any such Regulatory Filings and Regulatory Approvals, Zimmer hereby grants to the Company a non-exclusive
license to the Intellectual Property Rights related to the Related Instruments during the Term and for a period of nine (9) months
following the expiration or termination of this Agreement.

 

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ARTICLE
III

DATA PRIVACY AND SECURITY

 

3.1. Company
Data Privacy and Security Program. The Company shall establish and maintain a data privacy and security program that complies
with all Applicable Laws regarding data privacy and security and is consistent with industry standards for privacy, confidentiality
and data security in industries involving the collection, storage and processing of Protected Data. Zimmer, together with its outside
counsel and an independent, third-party auditor, shall have the right to review and assess the Company’s data privacy and
security program to assess its compliance with Applicable Laws. Zimmer shall not be permitted to exercise the audit rights set
forth in this Section 3.1 more than twice during any calendar year of the Term.

 

ARTICLE
IV

DISTRIBUTION

 

4.1. Marketing
and Sales Activities. From and after the Product Availability Date for each Product, Zimmer will make such Product available
to its sales force and will use its Commercially Reasonable Efforts to promote, market and sell such Product. Notwithstanding the
foregoing, Zimmer will have sole discretion to establish the pricing and other terms and conditions of sale of the Products to
its customers.

 

4.2. Branding.
The Parties acknowledge that Zimmer may establish separate brand(s) and Trademark(s) for use and association exclusively with the
Products to be marketed and sold by Zimmer pursuant to this Agreement. Zimmer shall own the associated Trademark(s). The Company
shall be responsible for the development, quality and regulatory efforts required in conjunction with labeling changes for the
Products required under Applicable Law as a result of branding decisions. The Company shall cooperate as requested by Zimmer to
obtain approval of such brand names as may be required by Regulatory Laws and shall package the Products consistent with the branding
specifications for such brand(s). Until any new Zimmer brand(s) are established and at any time thereafter, the Parties acknowledge
that Zimmer and its Affiliates and Distributors may distribute and sell Products using the brand(s) associated with such Products.

 

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4.3. Training,
Marketing and Education Support.

 

(a) Company
Training for Zimmer. Throughout the Term, the Company will provide, for no additional consideration, (i) periodic product sales
training sessions for sales personnel of Zimmer, its Affiliates and Distributors, at times and locations as shall be mutually agreed,
(ii) a system for real-time advice regarding the Products for Zimmer’s sales personnel, (iii) reasonable customer and field
support (including a system to respond effectively to Product Complaints and warranty claims), and (iv) reasonable assistance in
developing training and sales/marketing literature as needed to facilitate the marketing, sale and distribution of the Products.

 

(b) Training
Compliance. All Company training sessions for Zimmer personnel and all Product informational materials created or used by the
Company with respect thereto shall comply with all Zimmer corporate policies, practices and procedures related to advertising,
promotional and informational materials. In addition, all surgeon education and training events and programs conducted by either
party online or in person shall comply with all Zimmer compliance policies, practices and procedures related to arrangements with
healthcare professionals.

 

4.4. Right
to Product Improvements. Zimmer shall have the right to any and all Product Improvements developed or produced by the Company
during the Term. The Company shall promptly notify Zimmer of the completion of each Product Improvement and shall collaborate with
Zimmer to integrate such Product Improvement into the Products.

 

4.5. [**]

 

ARTICLE
V

MANUFACTURING AND SUPPLY

 

5.1. Manufacturing
and Supply Agreement. On or prior to the date of the LMR Order for the Strip/Grid Products, the Parties shall enter into a
Manufacturing and Supply Agreement in substantially the form attached hereto as Exhibit D (the “MS Agreement”).
The Parties agree to amend the MS Agreement on or prior to the date of the LMR Order for each Product to include such additional
Product as a product to be manufactured and supplied by the Company under the MS Agreement. Following the execution or amendment
thereof, the Parties shall comply at all times with the requirements set forth in the MS Agreement (as so amended, if applicable).
In the event of conflict between the provisions of this Agreement and the MS Agreement (as so amended, if applicable), this Agreement
shall control.

 

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5.2. Manufacturing
Permits and Approvals. At all times during the Term of this Agreement, the Company shall obtain and maintain in full force
and effect (at the Company’s expense) all permits, certifications, approvals and licenses required by Applicable Laws (including,
as applicable, ISO certification, FDA registration, and all other U.S. or international permits and approvals required), and shall
make all filings with Governmental Authorities, that are necessary and/or legally required to conduct any business involving the
development, manufacture, sale, distribution or promotion of the Products and otherwise for the performance of the Company’s
duties and obligations under this Agreement. The Company shall notify Zimmer as soon as practicable after receiving notice of any
claim or action by the FDA or other Governmental Authority with respect to its permits, certifications or licenses that could adversely
affect the Company’s performance of its obligations under this Agreement.

 

5.3. Quality
Agreement. On the date of execution of the MS Agreement, the Company and Zimmer shall enter into a supplier quality agreement
similar to the form Quality Agreement attached hereto as Exhibit E (the “Quality Agreement”). Following
the execution thereof, the Parties shall comply at all times with the quality requirements set forth in the Quality Agreement.
In the event of conflict between the provisions of this Agreement and the Quality Agreement, this Agreement shall control.

 

ARTICLE
VI

FEES AND TRANSFER PRICING

 

6.1. Exclusivity
Fees.

 

(a) In
consideration for the exclusive distribution rights granted to Zimmer hereunder, Zimmer shall make an initial payment to the Company
in the amount of $2,000,000 (the “Initial Exclusivity Fee”) in immediately available funds on the tenth (10th)
Business Day after the Effective Date. The Company agrees to use the proceeds from the Initial Exclusivity Fee first, to pay expenses
associated with the Project and thereafter for general working capital purposes.

 

(b) In
addition to the Initial Exclusivity Fee, in order to maintain the exclusivity of the SEEG Distribution License, Zimmer must pay
the SEEG Exclusivity Maintenance Fee to the Company, on or prior to the SEEG Exclusivity Confirmation Date, in immediately available
funds.

 

(c) Except
where Zimmer timely delivers a Design Modification Notice pursuant to Section 1.2, if one or more of the events set
forth in the table below occurs on or before the deadline indicated for such event and the Product Availability Date for the
SEEG Products occurs on or before [**], then the Company shall receive the additional amount indicated for such event as part
of the SEEG Exclusivity Maintenance Fee.

 

	Event	 	Deadline	 	 	Interim Fee Bonus	 
	[**]	 		[**]	 	 		[**]	 
	[**]	 		[**]	 	 		[**]	 

 

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Notwithstanding the foregoing,
if Zimmer timely delivers a Design Modification Notice to the Company pursuant to Section 1.2, and one or more of the events
set forth in the table below occurs on or before the deadline indicated for such event and the Product Availability Date for the
SEEG Products occurs on or before [**], then the Company shall receive the additional amount indicated for such event as part
of the SEEG Exclusivity Maintenance Fee:

 

	Event	 	Deadline	 	 	Interim Fee Bonus	 
	[**]	 		[**]	 	 		[**]	 
	[**]	 		[**]	 	 		[**]	 

 

Each additional amount described
in clauses (i) through (iv) of this Section 6.1(c) is referred to in this Agreement as an “Interim Fee Bonus”.
For purposes of this Agreement, each of the foregoing events shall have occurred only if the Company has demonstrated the achievement
of the event to Zimmer’s reasonable satisfaction. Notwithstanding the foregoing, the events in Sections 6.1(c)(ii),
(iii) and (iv) shall not be deemed to be met if FDA Approval for the SEEG Products is not received prior to the
applicable deadline.

 

(d) Notwithstanding
any other provision of this Agreement, if the Product Availability Date for the SEEG Products has not occurred on or before
[**], Zimmer shall have the right to terminate the SEEG Distribution License by delivering written notice to the Company to
that effect and, upon delivery of such notice, Zimmer shall be relieved of all of its obligations hereunder with respect to
SEEG Products, including any obligation to pay the SEEG Exclusivity Maintenance Fee or to purchase, market, distribute or
sell any SEEG Products.

 

(e) The
Initial Exclusivity Fee and the SEEG Exclusivity Maintenance Fee (including any Interim Fee Bonus(es)), once paid, are non-refundable.

 

6.2. Transfer
Pricing; Initial Orders.

 

(a) Transfer
Prices. Except as otherwise provided in this Section 6.2, (i) the transfer price for each Product (other than the
Electrode Cable Assembly Products) purchased by Zimmer, or its Affiliates or Subdistributors, under the MS Agreement or
otherwise during the Term and the term of the MS Agreement will be equal to [**] and (ii) the transfer prices for the
Electrode Cable Assembly Products shall be as set forth on Exhibit F attached hereto. No later than sixty (60) days
following the expiration of the twelve (12) month period following the placement of the Initial Stocking Order, the parties
agree to negotiate a potential change to the calculation of the transfer price for the Products; provided that the transfer
price for the Products (other than the Electrode Cable Assembly Products) shall not exceed [**]; and provided, further, that
if the Parties cannot agree on a change to the calculation of the transfer price prior to the end of such 60-day period, then
the transfer price shall be [**]. The transfer prices applicable for purchases by Zimmer under the MS Agreement or otherwise
will not exceed any other distributor pricing charged by the Company for similar products. The Parties acknowledge and agree
that for the purposes of calculating [**].

 

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(b) Initial
Orders. Not later than thirty (30) days following the execution of the MS Agreement (in the case of Strip/Grid Products) and
no later than thirty (30) days following the Acceptance of all Deliverables for SEEG Products under the Development Plan, Zimmer,
or its Affiliates or Distributors, will place an initial order or orders under the MS Agreement to purchase a sufficient number
of Strip/Grid Products or SEEG Products, as applicable, to conduct a Limited Market Release of such Products (an “LMR Order”).
Thereafter, Zimmer will have the right with respect to each Product to place an initial stocking order (an “Initial Stocking
Order”) for such Product in a quantity determined by Zimmer in its sole discretion to be sufficient to support the commercial
launch of such Product. The transfer price for the Initial Stocking Order shall be equal to [**] of the transfer price as set forth
in Section 6.2 above, provided, however, the transfer prices for the Electrode Cable Assembly Products included in the Initial
Stocking Order shall be as set forth on Exhibit F attached hereto.

 

(c) [**] Reconciliation.
No later than forty-five (45) days after the end of (i) the calendar quarter in which the First Commercial Sale of a Product
by Zimmer, or its Affiliates or Distributors occurs and (ii) each calendar quarter thereafter through the calendar quarter in
which the first anniversary of the First Commercial Sale of such Product occurs, Zimmer will prepare and deliver to the
Company a written report (the “[**] Reconciliation”), showing the [**] during such quarterly period and a
reconciliation of the transfer price for each order, showing the difference between the transfer price paid for each order
and a transfer price equal to [**]. The Company shall have 30 days after receipt of the [**] Reconciliation to agree or
disagree with the information in the [**] Reconciliation. In the event of a disagreement, the Parties will negotiate in good
faith to resolve the disagreement. If, based on the [**] Reconciliation as finally agreed, the transfer price paid for the
orders placed during such quarterly period is greater than the transfer price calculated using the [**] Reconciliation, then
the Company shall pay to Zimmer the amount of such difference; if, based on the [**] Reconciliation as finally agreed, the
transfer price paid for the orders placed during such quarterly period is less than the transfer price calculated using the
[**] Reconciliation, then Zimmer shall pay to the Company the amount of such difference. Payments under this Section
6.2(c) shall be made within ten (10) Business Days after the amount is finally determined.

 

6.3. Taxes.
Zimmer shall pay all sales, use and transfer taxes and other charges arising out of the purchase and sale of the Products, including
any VAT and personal property taxes and all inspection fees and duties, applicable to the sale and transport of the Products by
Zimmer or any Subdistributors in the Territory which are applicable thereto. The Company shall not be responsible for any business,
occupation, withholding or similar tax, or any taxes of any kind, relating to the purchase and sale of the Products.

 

6.4. Customer
Support. Zimmer shall be solely responsible for providing, and shall provide the customers in the Territory with, all training
with respect to the Products that is necessary to support the normal use of the Products by customers. Zimmer shall, at its cost,
cause all of its sales force personnel to become sufficiently knowledgeable and competent with respect to the Products, to allow
Zimmer to meet its customer support obligations under this Section 6.4. The Company will provide required training
on the Products at the Company’s expense pursuant to Section 4.3 above, although Zimmer is responsible for travel
and lodging and other expenses related to attending such required training.

 

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ARTICLE
VII

COMPLIANCE AND QUALITY CONTROL

 

7.1. Compliance
with Laws.

 

(a) Each
Party shall comply in all material respects with all Applicable Laws that pertain to its activities under this Agreement and, except
as otherwise provided for herein, will bear the entire cost and expense of such compliance.

 

(b) To
the extent the Company retains Health Care Professionals to assist with Development of the Products, those Health Care Professionals
will be engaged (i) through a written consulting agreement that requires the Health Care Professional to abide by the laws and
regulations enumerated herein under the definition of Applicable Laws, (ii) following completion of needs assessment and due diligence
processes, and (iii) compensated hourly at a fair market value rate. All related compensation must be accurately recorded and reported
under the Physician Payments Sunshine Act and other Applicable Laws.

 

(c) The
Company will ensure that its employees receive anti-bribery and anti-corruption compliance training.

 

7.2. Regulatory
Approvals.

 

(a) Company
Responsibilities. The Company will make all Regulatory Filings and obtain and maintain all required Regulatory Approvals (including
all required FDA Approvals) for the Products in the Designated Jurisdictions. The Company will have primary responsibility for
all communications, submissions and interactions with Regulatory Authorities for the purpose of obtaining and maintaining Regulatory
Approvals; provided, however, that Zimmer will have the right to (i) review and provide input into each Regulatory
Filing, including the preparation of each Regulatory Filing and the proposed indications and instructions for use (or equivalent
labeling) included in each Regulatory Filing, (ii) require the Company to include one or more Related Instruments in each Regulatory
Filing, and (iii) participate generally in the regulatory process at its own expense. To facilitate such participation, the Company
will (x) notify Zimmer of all planned Regulatory Filings and regulatory actions, communications and meetings sufficiently in advance
to allow Zimmer a reasonable opportunity to review, comment and/or participate, as applicable; and (y) provide Zimmer copies of
all relevant communications, correspondence and documents received from Regulatory Authorities promptly after receipt, including,
where applicable, copies of the following items and equivalent information for non-U.S. jurisdictions: FDA clearance letters, 510(k)
submissions, Declarations of Conformity, ISO 13485 certification, redacted Essential Requirements verification checklists, and
any licenses or evidence of registration of Products in its possession and control as applicable for sale in the Territory. The
Company will be responsible for all costs and expenses relating to obtaining and maintaining Regulatory Approvals for the Products
(including, if requested by Zimmer, any Related Instruments included in the applicable Regulatory Filing) in the Designated Jurisdictions.
The Company hereby grants to Zimmer the fully paid-up right and license to use any and all Regulatory Approvals related to the
Products in the Territory owned by or licensed to the Company and existing as of the date of this Agreement or obtained during
the Term.

 

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(b) Material
Communications. The Company will keep Zimmer informed on a regular and timely basis of all material communications and filings
with, to or from all Regulatory Authorities relating to the Products or the Regulatory Approvals.

 

(c) Other.
Zimmer will have primary responsibility for all communications, submissions and interactions with the FDA and other applicable
Regulatory Authorities for the purpose of obtaining and maintaining regulatory approvals for any devices or products associated
with the Products, including, as applicable, any mobile applications designed by Zimmer using information from the Products, any
Related Instruments that are not included in the Company’s Regulatory Filings, or, to the extent relevant, other medical devices
incorporating the Products. The Company shall provide all information and support necessary to enable Zimmer to obtain and maintain
such approvals.

 

7.3. Regulatory
Proceedings. The Company shall be responsible to Regulatory Authorities throughout the Territory as the manufacturer of the
Products. If either Party receives notice of an actual or threatened inspection, investigation, inquiry, import or export ban,
product seizure, enforcement proceeding or similar action by a Regulatory Authority with respect to a Product or a Party’s
activities in connection with a Product, it will notify the other Party within two Business Days after its receipt of notice of
the action and will promptly deliver to the other Party, within a further one Business Day, copies of all relevant documents received
from the Regulatory Authority. The Parties shall cooperate in response to the action, including providing information and documentation
as requested by the Regulatory Authority. If the action primarily concerns Zimmer’s activities, then Zimmer will have primary
responsibility to respond to the Regulatory Authority; otherwise, the Company will have primary responsibility to respond. In either
case, upon request of the responding Party, the other Party shall cooperate in good faith and provide consulting advice and assistance
with the response.

 

7.4. Product
Labels. All Products will be labeled to reflect the Company as the manufacturer and Zimmer as the distributor. The Company
will work with Zimmer to ensure Product Part numbers avoid conflicts for Zimmer. Zimmer shall have the right to review and approve
all labeling for the Products (including package inserts/IFUs, product brochures, surgical techniques and web-site materials),
and the Company agrees to make modifications to such labeling for the Products as reasonably requested by Zimmer. If applicable,
the Company will have sole responsibility for obtaining all necessary Product labels and for negotiating the language of the Product
labels and package insert/IFU with the applicable Regulatory Authorities in the Territory; however, the Company will not propose
or agree to specific content without Zimmer’s prior approval.

 

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7.5. Debarment.
The Company certifies that it has not and will not use in any capacity in connection with the performance of its obligations under
this Agreement, the services of any individual or entity debarred, excluded, suspended or disqualified by the Office of Inspector
General of the Department of Health and Human Services or otherwise deemed ineligible to participate in any federal or state healthcare
program.

 

7.6. Federal
EEO and Affirmative Action Obligations. In as much as Zimmer is a federal contractor, federal law requires that Zimmer notify
the Company of its equal employment opportunity and affirmative action obligations. This Section 7.6 applies only to the
performance of this Agreement in the United States of America. When applicable, the Company shall comply with the EO Clause in
Section 202 of Executive Order 11246, as amended, which is incorporated herein by specific reference. When applicable, the Company
shall abide by the requirements of 41 C.F.R. § 60-300.5(a). This regulation prohibits discrimination against qualified protected
veterans, and requires affirmative action by covered prime contractors and subcontractors to employ and advance in employment qualified
protected veterans. When applicable, the Company shall abide by the requirements of 41 C.F.R. § 60-741.5(a). This regulation
prohibits discrimination against qualified individuals on the basis of disability, and requires affirmative action by covered prime
contractors and subcontractors to employ and advance in employment qualified individuals with disabilities.

 

7.7. Reporting.
Each Party shall maintain a system of collecting and recording Product Complaints and reportable events under Applicable Laws relating
to the Products in accordance with its standard procedures and policies in effect from time to time and shall provide to the other
Party reports of such complaints and events within two Business Days after receipt. Each Party shall immediately notify the other
of any material information such Party learns concerning the accuracy, performance, safety or efficacy of the Products, regardless
of whether formal reporting to any Regulatory Authority is required. The Company shall be responsible for investigating all Product
Complaints and reportable events and reporting to Zimmer, Regulatory Authorities and customers, as appropriate; provided, however,
that Zimmer will provide reasonable assistance and cooperation in all communications with customers. The Company will be responsible
for all post-market surveillance required by a Regulatory Authority or Applicable Laws and for submitting to applicable Regulatory
Authorities all required reports and other materials, including annual reports, distribution reports, product performance reports,
medical device reports, safety reports and similar reports.

 

7.8. Field
Actions. If either Party in good faith determines that a Field Action involving a Product or its labeling is warranted (whether
or not required by a Regulatory Authority), such Party will immediately notify the other Party in writing and will advise the other
Party of the reasons underlying its determination that a Field Action is warranted. The Parties will consult with each other as
to any action to be taken in regard to such Field Action. If, after consultation, either Party in good faith believes that a Field
Action should be undertaken with respect to a Product or its labeling, the Parties will cooperate in carrying out the same. The
Company will be responsible for all of Zimmer’s reasonable out of pocket costs and expenses, including the cost of the Products
and the replacement cost of the Products, in the event of Field Action with respect to any Product unless such Field Action was
due to an intentional act or omission of Zimmer. The Company will be responsible for any required reporting to Regulatory Authorities
with respect to any Field Action involving a Product or its labeling.

 

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ARTICLE
VIII

REPRESENTATIONS AND WARRANTIES; INDEMNIFICATION.

 

8.1. Mutual
Representations and Warranties. Each Party hereby represents and warrants to the other that:

 

(a) it
is a corporation duly organized, validly existing and, if relevant in its jurisdiction of organization, in good standing under
the laws of its jurisdiction of organization and has all requisite power and authority to enter into this Agreement and to perform
its obligations hereunder;

 

(b) the
execution, delivery and performance by it of this Agreement and the consummation by it of the transactions contemplated hereby
have been duly authorized and approved by all necessary corporate or equivalent action on its part;

 

(c) this
Agreement has been duly executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against
it in accordance with its terms;

 

(d) the
execution, delivery and performance by it of this Agreement and the consummation by it of the transactions contemplated hereby
do not and will not: (i) violate any Applicable Laws; (ii) conflict with, or result in the breach of any provision of its organizational
documents; (iii) result in the creation of any lien or encumbrance of any nature upon any property being transferred by it pursuant
to this Agreement; or (iv) violate, conflict with, result in the breach or termination of, or constitute a default under (or event
which, with notice, lapse of time or both, would constitute a default under) any permit, contract or agreement to which it is a
party or by which any of its properties or businesses are bound;

 

(e) no
authorization, consent or approval of, or notice to or filing with, any Person is required for the execution, delivery and performance
by it of this Agreement (excluding approvals of Regulatory Authorities as contemplated herein); and

 

(f) neither
it nor any of its Affiliates is debarred under the FFDCA or on the U.S. Department of Health and Human Service’s List of
Excluded Individuals/Entities or the U.S. General Services Administration’s Lists of Parties Excluded from Federal Procurement
and Non-Procurement Programs.

 

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8.2. Company
Representations and Warranties. The Company hereby represents and warrants to, and covenants with, Zimmer as follows:

 

(a) neither
it nor any of its Affiliates has employed (or used any contractor or consultant that employs) any Person who is debarred under
the FFDCA or under investigation by the FDA or other governmental authority for debarment thereunder; and

 

(b) no
health care professional holds any equity interest in the Company or any of its Affiliates, other than in compliance with Applicable
Laws;

 

(c) the
Company’s operation of its business has complied (and will continue to comply), and the Company is currently in compliance,
in each case in all material respects, with all Applicable Laws, and no event or state of facts has occurred or exists that (with
or without notice or lapse of time or both) would constitute or result in a material violation by the Company of, or a material
failure on the part of the Company to comply with, any Applicable Law;

 

(d) neither
the Company nor any Person acting on its behalf has or will, directly or indirectly, (i) used or agree to use any funds for unlawful
contributions, gifts, entertainment or expenses relating to political or government activity; (ii) made or agree to make, or attempt
to make or agree to make, any unlawful payment to any Government Official or violated any provision of any Anti-Corruption Law;
(iii) take(en) any action that would constitute a violation of any Anti-Corruption Law; (iv) made or agreed to make, or attempted
to make or agree to make, any other unlawful payment; or (v) have knowledge of a third party violating any provision of any Anti-Corruption
Law on behalf of the Company;

 

(e) neither
the Company nor any Person acting on its behalf has taken or will take any action in furtherance of making an offer, payment, gift,
promise to pay, or authorization of the giving of anything of value, to any Government Official (or to any Person while knowing
or having reason to know that all or some portion of the consideration remitted to that Person will be offered, given, or promised
to a Government Official) for the purpose of (i) influencing any act, decision, or failure to act by a Government Official in his
or her official capacity; (ii) inducing such Government Official to use his or her influence to affect any act or decision of a
Governmental Entity; (iii) obtaining, retaining or directing any business; or (iv) pursuing the issuance of any consent or any
other commercial or regulatory benefits in connection with the establishment or operation of the Company;

 

(f) the
Company has obtained FDA Approval for the Strip/Grid Products and such approval is in full force and effect on the date hereof;
and

 

(g) there
are no circumstances that may affect the accuracy of the foregoing representations and warranties, including FDA or similar investigations
of, or debarment proceedings against, Company or any Person performing services or rendering assistance relating thereto and Company
will promptly notify Zimmer if it becomes aware of any such circumstances during the Term. Further Zimmer will have the right,
solely with respect to the Project and the Products, at Zimmer’s sole cost and expense, upon reasonable prior notice to the
Company and during regular business hours, to inspect and audit the Company’s records, facilities and operations for the
purpose of verifying its compliance with the Applicable Law and provisions in this Paragraph.

 

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8.3. Intellectual
Property Matters. The Company hereby represents and warrants to, and covenants with, Zimmer as follows:

 

(a) Ownership.
Each of the following statements are true and correct as of the Effective Date and shall remain true and correct for the duration
of the Term: (i) the Company has sole and exclusive ownership of, or the unqualified right to use the Company IP; (ii) the Company
has not granted to any Person other than Zimmer a license, covenant not to sue or similar right with respect to any component of
the Company IP in the Field in the Territory that would be inconsistent with or conflict with the grant of the exclusive distribution
rights and license under this Agreement; (iii) the Company IP is free of any lien, encumbrance, security interest, mortgage or
claim of any nature; (iv) except for payments due under the WARF License, which shall be the sole responsibility of the Company,
the Company has no obligation to make any royalty, license or other payment in respect of the use or practice of the Company IP,
or in respect of the development, design, use, operation, manufacture, distribution or Commercialization of the Products; and (v)
all Intellectual Property Rights required for the development, design, use, operation, manufacture, distribution and Commercialization
of the Products in accordance with the Specifications for the Field in the Territory are included in the Company IP.

 

(b) Right
to Make Grant of License. The Company has the right to make any grants of Company IP to Zimmer that it makes or is required
to make under this Agreement. Without limitation of the foregoing, each of the employees, agents, consultants, contractors and
others who may contribute to or participate in the invention, discovery, creation or development of any Company IP is under a valid
and enforceable legal obligation to assign to the Company, all right, title and interest in such Company IP. The Company shall
not grant to any Person other than Zimmer a license, covenant not to sue or similar right with respect to any component of the
Company IP that would be inconsistent with or conflict with Zimmer’s exercise of its rights under any license granted to
Zimmer hereunder in any manner.

 

(c) Protection.
The Company has administered and maintained all Patent Rights, Trademarks, Copyrights, Industrial Designs and other components
of the Company IP, and has made and will continue to make all filings with Governmental Agencies, whether U.S. or foreign, arising
from or associated with any Company IP or related Intellectual Property Rights to protect the Intellectual Property of the Products
in accordance with commercially reasonable intellectual property portfolio filing and maintenance practices. The Company is current
in payment of all patent maintenance fees and similar costs related to such portfolio maintenance. The Company has taken responsible
and prudent steps to safeguard and maintain the secrecy and confidentiality of all Proprietary Information included in the Company
Background IP.

 

(d) Non-Infringement.
The use and practice of the Company IP for the development, design, use, operation, manufacture, distribution and Commercialization
of the Products in accordance with the Specifications for the Field in the Territory do not infringe, violate or misappropriate
the Intellectual Property Rights of any Person.

 

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(e) Claims.
No Person has asserted a Claim against the Company with respect to any of the Company IP, which Claim (i) challenges the ownership,
validity or enforceability of any of the Company IP, (ii) alleges that the Company’s use or practice of the Company IP infringes,
misappropriates or violates the Intellectual Property Rights of any Person, or (iii) seeks to enjoin or restrain the Company’s
use or practice of the Company IP in any manner that would interfere with the transactions contemplated by this Agreement. The
Company has no knowledge that any Person intends to assert such a Claim or that any Person has a valid basis to do so.

 

(f) Infringement
by Others. Except as disclosed by the Company to Zimmer prior to the Effective Date, The Company has no reason to believe that
any Person has infringed, violated or misappropriated any granted patents in the Company IP as it relates to the Product in the
Field.

 

8.4. Indemnification.

 

(a) Scope.

 

(i) Each
Party shall indemnify and hold harmless the other Party (and its Affiliates and their respective shareholders, officers, directors,
employees and agents) from any liability, damage, loss, action, cause of action, tax, cost or expense (whether or not arising out
of a Third Party legal claim or action) (including reasonable attorneys’, consultants’ and experts’ fees and
expenses and all amounts paid in investigation, defense and settlement of any of the foregoing) (collectively, “Losses”)
arising out of, in connection with or relating to (x) any breach or inaccuracy of any representation or warranty made by such indemnifying
Party in this Agreement; (y) any noncompliance with or breach or nonperformance of any agreement, covenant or obligation to be
performed by such indemnifying Party pursuant to this Agreement; or (z) any violation of Applicable Law or negligence or willful
misconduct in connection with this Agreement by the indemnifying Party or any of its Affiliates or their respective representatives,
employees or agents. If the Parties have indemnification obligations to one another in connection with a single Third Party legal
claim or action, they shall contribute to the aggregate damages and costs in proportion to their relative responsibilities therefor
based upon all relevant equitable considerations.

 

(ii) In
addition to its obligations under Section 8.4(a)(i), the Company shall indemnify and hold harmless Zimmer (and its Affiliates
and their respective shareholders, officers, directors, employees and agents) from any Losses arising out of, in connection with
or relating to (x) any Infringement Claim and (y) any claim of a failure to pay royalties or other amounts due to Third Parties
under license agreements between the Company and such Third Parties, including any such claims made under or in connection with
the WARF License.

 

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(b) Notice.
The indemnified Party shall promptly notify the indemnifying Party in writing and in reasonable detail of each indemnity claim,
but any delay or deficiency of such notice shall not excuse the indemnifying Party’s indemnification obligations except to
the extent that its legal position is materially prejudiced due to the delay or deficiency.

 

(c) Defense.
The indemnifying Party shall have the right to assume and control the defense and settlement of any Third Party legal claim or
action if the predominant claims therein are covered by its indemnity, unless the Parties have a conflict of interest with respect
to such legal claim or action or the claimant is seeking relief that, if awarded, could have an adverse effect on the indemnified
Party’s ongoing business (other than an award of money damages). If the indemnifying Party assumes the defense, it shall
employ counsel reasonably acceptable to the indemnified Party and shall defend the claim or action with diligence. In all events,
the Party not controlling the defense shall reasonably cooperate with the controlling Party and shall be permitted to participate
in the defense at its own expense.

 

(d) Settlement.
Neither Party shall settle a Third Party legal claim or action covered by indemnification under this Section 8.4 without
the other Party’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed, except that the
Party controlling the defense shall have the right to do so if (i) it will pay in full all monetary elements of the settlement,
(ii) the settlement does not include non-monetary elements, findings or admissions that would be detrimental to the other Party’s
ongoing business, and (iii) the settlement includes a full release in favor of the other Party from all Losses arising out of,
in connection with or relating to such legal claim or action.

 

ARTICLE
IX

CONFIDENTIALITY AND PUBLICITY

 

9.1. Scope.
In the course of their activities pursuant to this Agreement, the Parties anticipate that they may disclose Confidential Information
to one another and that either Party may, from time to time, be a disclosing Party or a recipient of Confidential Information.
The Parties wish to protect such Confidential Information in accordance with this ARTICLE IX. The provisions of this ARTICLE
IX will apply to disclosures furnished to or received by a Party and its agents and representatives (which may include agents
and representatives of its Affiliates). Each Party will (a) advise its employees, agents and representatives of the requirements
of this ARTICLE IX and ensure that its employees, agents and representatives are bound by confidentiality obligations substantially
consistent with those set forth in this ARTICLE IX; and (b) be responsible to ensure their compliance with such provisions
and be responsible for any breach of such provisions. The provisions of this ARTICLE IX will supersede and replace any prior
agreements between the Parties relating to Confidential Information covered hereby. In addition to any other remedies available
in law or equity, the disclosing Party will be entitled to temporary and permanent injunctive relief in the event of a breach by
the recipient under this ARTICLE IX.

 

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9.2. Definition
of Confidential Information. For purposes hereof, “Confidential Information” with respect to a disclosing
Party means all Proprietary Information, in any form or media, concerning the disclosing Party or its Affiliates that the disclosing
Party or its Affiliates furnishes to the recipient, whether furnished before or after the date hereof, and all notes, analyses,
compilations, studies and other materials, whether prepared by the recipient or others, that contain or reflect such Proprietary
Information and Zimmer’s Confidential Information includes all Program IP and all data, deliverables and other information
developed by either Party in connection with this Agreement; provided, however, that Confidential Information does not include
information that (a) is or hereafter becomes generally available to the public other than as a result of a disclosure by the recipient
in violation of this Agreement, (b) was already known to the recipient prior to receipt from the disclosing Party as evidenced
by prior written documents in its possession not subject to an existing confidentiality obligation to the disclosing Party, (c)
is disclosed to the recipient on a non-confidential basis by a Person who is not in default of any confidentiality obligation to
the disclosing Party, or (d) is independently developed by or on behalf of the recipient without reliance on or use of information
received hereunder. The contents of this Agreement will be deemed to be Confidential Information of each Party.

 

9.3. Confidentiality
Obligations. The recipient of Confidential Information will (a) use such Confidential Information solely and exclusively in
connection with the exercise of its rights and the discharge of its obligations under this Agreement, and (b) not disclose such
Confidential Information without the prior written consent of the disclosing Party to any Person other than those of its agents
and representatives who need to know such Confidential Information for such permitted use and who are bound by appropriate written
obligations of confidentiality with respect thereto. Notwithstanding the foregoing, the recipient of Confidential Information may
disclose it to the extent necessary to comply with Applicable Laws or with an order issued by a court or regulatory body with competent
jurisdiction; provided that, in connection with such disclosure, the recipient will (A) provide, if allowable, reasonable advance
notice of such disclosure to the disclosing Party; (B) limit the disclosure to the information that is legally required to be disclosed,
and (C) use Commercially Reasonable Efforts to obtain confidential treatment or an appropriate protective order, to the extent
available, with respect to such Confidential Information. The obligations under this Section 9.3 will remain in effect from
the Effective Date through the fifth anniversary of the termination or expiration of this Agreement. Notwithstanding the foregoing,
the obligations to protect Confidential Information identified by the disclosing Party as a trade secret shall extend until such
information becomes publicly available. In addition to the foregoing, each Party may disclose Confidential Information belonging
to the other Party as expressly permitted by this Agreement or if and to the extent such disclosure is reasonably necessary in
the following instances:

 

(a) filing,
prosecuting, or maintaining Patents as permitted by this Agreement;

 

(b) regulatory
filings for the Products that such Party has a license or right to Develop or Commercialize hereunder in a given country or Territory;

 

(c) prosecuting
or defending litigation as permitted by this Agreement;

 

(d) complying
with applicable court orders or governmental regulations, including regulations promulgated by securities exchanges and the SEC,
provided that any Party making such disclosure shall promptly notify such other Party of such order or regulation upon the receipt
thereof, and provide reasonable assistance to such other Party in seeking confidential treatment of such Confidential Information;

 

    23

     

    

 

(e) disclosure
to its and its Affiliates’ employees, consultants, contractors, and agents, to its licensees and sublicensees, in each case
on a need-to-know basis in connection with the Development or Commercialization of the Products in accordance with the terms of
this Agreement, in each case under written obligations of confidentiality and non-use at least as stringent as those herein; and

 

(f) disclosure
to actual and bona fide potential investors, acquirors, licensees, and other financial or commercial partners solely for the purpose
of evaluating or carrying out an actual or potential investment, acquisition, or collaboration, in each case under written obligations
of confidentiality and non-use at least as stringent (except with respect to duration, which may be shorter as long as not less
than two (2) years) as those herein, provided that if this Agreement is being disclosed the disclosing Party redacts the financial
terms and other provisions of this Agreement that are not reasonably required to be disclosed in connection with such potential
investment, acquisition, or collaboration, which redaction shall be prepared in consultation with the other Party.

 

Notwithstanding the
foregoing, in the event a Party is required to make a disclosure of the other Party’s Confidential Information pursuant to
Section 9.3(c) or 9.3(d), it will, except where impracticable, give reasonable advance notice to the other Party
of such disclosure and use the same diligent efforts to secure confidential treatment of such Confidential Information as such
Party would use to protect its own confidential information, but in no event less than reasonable efforts. In any event, the Parties
agree to take all reasonable action to avoid disclosure of Confidential Information hereunder. Any information disclosed pursuant
to Section 9.3(c) or 9.3(d) shall remain Confidential Information and subject to the restrictions set forth in this
Agreement, including the foregoing provisions of this Article IX.

 

9.4. Limitations
on Obligations. Except as otherwise required by Applicable Law, upon the termination or expiration of this Agreement, if requested
by the disclosing Party, the recipient of Confidential Information:

 

(a) will
promptly return or destroy, at the recipient’s election, all Confidential Information of the disclosing Party, including
all notes or other work product prepared by the recipient based upon or incorporating Confidential Information of the disclosing
Party;

 

(b) will
not retain any copies, extracts or other reproductions, in whole or in part, of such Confidential Information, notes or other work
product; provided, however, that the recipient will be permitted to retain (but not use) (i) one file copy of all Confidential
Information on a confidential basis to evidence the scope of and to enforce the Party’s obligation of confidentiality under
this ARTICLE IX; and (ii) all back up electronic media maintained in the ordinary course of business for archival purposes;
and

 

(c) will
certify in writing to the disclosing Party that the recipient has complied with this Section 9.4.

 

    24

     

    

 

9.5. Publicity.
It is understood that each Party may desire or be required to issue press releases relating to this Agreement or activities hereunder.
The Parties agree to consult with each other reasonably and in good faith with respect to the text and timing of such press releases
prior to the issuance thereof, to the extent practicable, and not to issue any such release without the other Party’s consent,
provided that a Party may not unreasonably withhold, condition, or delay consent to such releases by more than four (4)
Business Days, and that either Party may issue such press releases or make such disclosures as it determines, based on advice of
counsel, is required to comply with Applicable Laws or with the rules and regulations promulgated by the SEC or any exchange on
which such Party’s securities are listed. Each Party shall provide the other Party with advance notice of, and an opportunity
to review, legally required disclosures to the extent practicable. The Parties will consult with each other on the provisions of
this Agreement to be redacted in any filings required by Applicable Laws; provided that each Party shall have the right
to make any such filing as it reasonably determines is required under Applicable Laws. In addition, either Party shall be free
to disclose, without the other Party’s prior written consent, the existence of this Agreement, the identity of the other
Party and those terms of the Agreement which have already been publicly disclosed in accordance with this Section 9.5, each
of the Parties may make internal announcements to their respective employees regarding the transactions contemplated by this Agreement,
subject to the other Party’s review and approval of the announcing Party’s announcement, which approval shall not be
unreasonably withheld. Nothing herein shall prohibit or prevent either Party or any of its Affiliates from disclosing any information
of a nature that would typically be provided by companies to their investors or prospective investors.

 

ARTICLE
X

TERM AND TERMINATION

 

10.1. Term.
The term of this Agreement (the “Term”) will begin on the Effective Date and will remain in effect until the tenth
anniversary of the date of the First Commercial Sale of the last of the Products to achieve a First Commercial Sale. Upon the expiration
of the Term, this Agreement may be renewed upon the mutual written agreement of the Parties. This Agreement may be terminated before
expiration of the Term only by agreement of the Parties or in accordance with Section 10.3.

 

10.2. Term
of Exclusivity.

 

(a) The
license rights granted to Zimmer under the Strip/Grid Distribution License shall be exclusive from the Effective Date until the
tenth anniversary of the date of the First Commercial Sale of Strip/Grid Products (the “Strip/Grid Exclusive License Period”).
The Strip/Grid Distribution License shall become non-exclusive upon the expiration of the Strip/Grid Exclusive License Period.

 

(b) The
license rights granted to Zimmer under the SEEG Distribution License shall be exclusive from the Effective Date until (i) if Zimmer
makes the SEEG Exclusivity Payment prior to the SEEG Exclusivity Confirmation Date, then the tenth anniversary of the date of the
First Commercial Sale of SEEG Products; or (ii) if Zimmer does not make the SEEG Exclusivity Payment prior to the SEEG Exclusivity
Confirmation Date, then the first day following the SEEG Exclusivity Confirmation Date (the “SEEG Exclusive License Period”).
The SEEG Distribution License shall become non-exclusive upon the expiration of the SEEG Exclusive License Period.

 

    25

     

    

 

10.3. Termination.
This Agreement may be terminated before the end of the Term or any renewal term as follows:

 

(a) If
either Party believes the other Party is in material breach of this Agreement, it may give written notice of such breach to the
other Party, which notice shall specify the breach in reasonable detail. If the alleged breach is not remedied within 60 days after
such written notice, the non-breaching Party may terminate this Agreement immediately upon delivery to the other Party of a written
notice of termination. The termination right provided herein will not constitute an exclusive remedy for the material breach.

 

(b) Either
Party may terminate this Agreement by delivering written notice of its decision to do so if the other Party is dissolved under
applicable corporate law or becomes subject to an Insolvency Event.

 

(c) Zimmer
may terminate this Agreement for any reason or no reason by delivering written notice to the Company specifying the effective date
of such termination, which notice must be provided at least 90 days prior to such effective date.

 

(d) The
Company may terminate this Agreement immediately upon delivery of written notice to Zimmer upon the occurrence of a Competitive
Triggering Event and the payment by the Company to Zimmer of the Competitive Triggering Event Termination Fee; provided
that any such notice must be delivered and the Competitive Triggering Event Termination Fee must be paid by the Company no later
than six (6) months following the occurrence of the Competitive Triggering Event. Upon the termination of this Agreement pursuant
to this Section 10.3(d), Zimmer and its Affiliates and Subdistributors shall have the right, for a period of nine (9) months
after the termination of this Agreement (the “Transition Period”), to continue to place orders (including bulk
orders) and purchase Products under the MS Agreement for sale to their respective then-existing customers and to sell off all inventory
of the Products held or purchased for sale by Zimmer or its Affiliates or Subdistributors in the Territory during the Transition
Period and wind down the accounts for the Territory. The Company shall continue to manufacture Products and sell Products to Zimmer
pursuant to the MS Agreement during the Transition Period. At the end of the Transition Period, the Company shall repurchase any
non-expired Products previously purchased and not resold by Zimmer and its Affiliates and Subdistributors at a price equal to [**].

 

10.4. Survival.
The following provisions will survive termination or expiration of this Agreement: (a) Section 2.2, relating to Program
IP, Section 2.12, and the first two sentences of Section 2.13; (b) ARTICLE VIII, relating to representations
and warranties and indemnification; (c) ARTICLE IX, relating to confidentiality and publicity; (d) ARTICLE X, relating
to termination and post-termination rights and obligations; and (e) any provisions required for the interpretation or enforcement
of any of the foregoing.

 

10.5. Accrued
Obligations. Termination or expiration of this Agreement will not relieve any Party of any obligation that is expressly indicated
to survive termination and will be without prejudice to any rights that have accrued to the benefit of any Party prior to such
termination.

 

    26

     

    

 

ARTICLE
XI

MISCELLANEOUS

 

11.1. Interpretive
Conventions. Whenever the words “include,” “includes” or “including” are used in this Agreement,
they will be understood to be followed by the words “without limitation.” Pronouns, including “he,” “she”
and “it,” when used in reference to any Person, will be deemed applicable to entities or individuals, male or female,
as appropriate in any given case. Standard variations on defined terms (such as the plural form of a term defined in the singular
form, and the past tense of a term defined in the present tense) will be deemed to have meanings that correlate to the meanings
of the defined terms. Article, Section and other headings contained in this Agreement are for reference purposes only and are not
intended to describe, interpret, define or limit the scope, extent or intent of any provision of this Agreement. When a reference
is made in this Agreement to a Recital, an Article, a Section, a Schedule, an Attachment or an Exhibit, such reference is to a
Recital, Article or Section of, or a Schedule, Attachment or Exhibit to, this Agreement, unless otherwise indicated. All references
to “dollars” or “$” will be deemed to be references to the lawful currency of the United States.

 

11.2. Compliance;
Conflicts. Each Party and its Affiliates and their respective employees and agents will comply in all material respects with
all Applicable Laws that pertain to its activities under this Agreement and, except as otherwise provided herein, will bear the
entire cost and expense of such compliance. The Parties will not, directly or indirectly, take any action (including the grant
of any right or the undertaking of any obligation) that is in conflict with any provision of this Agreement.

 

11.3. Entire
Agreement; Amendments. This Agreement constitutes the entire agreement among the Parties concerning the subject matter hereof
and supersedes all previous negotiations, agreements and commitments with respect thereto, including, without limitation, that
certain Term Sheet dated February 13, 2020 entered into by and between the Company and Zimmer’s Affiliate. This Agreement
will not be amended or modified in any manner except by a written instrument signed by duly authorized officers or representatives
of each of the Parties.

 

11.4. Governing
Law. Any claim or controversy relating in any way to this Agreement will be governed by and interpreted exclusively in accordance
with the laws of the State of Indiana, without regard to the conflicts of law principles thereof.

 

11.5. Dispute
Resolution. Any claim, dispute, or controversy as to the breach, enforcement, interpretation or validity of this Agreement
(each, a “Dispute”) will be referred to the Chief Executive Officer of the Company and the [•] for Zimmer
for attempted resolution prior to the institution of litigation. In the event such executives are unable to resolve such Dispute
within 30 days of such Dispute being referred to them, then either Party may commence an action in the Chosen Courts seeking resolution
of the Dispute.

 

    27

     

    

 

11.6. Jurisdiction;
Court Proceedings; Waiver of Jury Trial.

 

(a) Any
Claim, litigation, proceeding hearing or other action (collectively, “Proceeding”) against any Party arising out
of, in connection with or relating to this Agreement shall be brought solely in any federal court sitting in the Northern District
of Indiana (the “Chosen Courts”) and each of the Parties submits to the exclusive jurisdiction of the Chosen Courts
for the purpose of any such Proceeding; provided that a final judgment in any such Proceeding may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by Applicable Law. Each Party irrevocably and unconditionally agrees not
to assert any (i) objection that it may ever have to the laying of venue of any such Proceeding in any Chosen Court, (ii) Claim
that any such Proceeding brought in any Chosen Court has been brought in an inconvenient forum and (iii) Claim that any Chosen
Court does not have personal jurisdiction over such Party with respect to such Proceeding.

 

(b) Each
Party agrees that service of process in any Proceeding may be made by mailing a copy thereof by registered or certified mail or
by overnight courier service, postage prepaid, to it at its address specified herein. Nothing in this Agreement will affect the
right of any Party to serve process in any other manner permitted by Applicable Law.

 

(c) EACH
OF THE PARTIES TO THIS AGREEMENT HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY ACTION
(I) ARISING UNDER THIS AGREEMENT OR (II) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES, OR
ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER AT LAW OR IN EQUITY,
BASED IN CONTRACT OR IN TORT OR OTHERWISE. EACH PARTY HEREBY FURTHER AGREES AND CONSENTS THAT ANY SUCH ACTION SHALL BE DECIDED
BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES MAY FILE A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE
CONSENT OF THE PARTIES TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

 

11.7. Partial
Illegality. If any provision of this Agreement or the application thereof to either Party or any circumstances will be declared
void, illegal or unenforceable, the remainder of this Agreement will be valid and enforceable to the extent permitted by Applicable
Laws. In such event, the Parties will use their best efforts to replace the invalid or unenforceable provision by a provision that,
to the extent permitted by the Applicable Laws, achieves the purposes intended under the invalid or unenforceable provision. Any
deviation by either Party from the terms and provisions of this Agreement in order to comply with Applicable Laws will not be considered
a breach of this Agreement.

 

11.8. Waiver
of Compliance. No provision of this Agreement will be waived by any act, omission or knowledge of a Party or its agents or
employees, except by an instrument in writing expressly waiving such provision and signed by a duly authorized officer of the waiving
Party, which waiver will be effective only with respect to the specific obligation and instance described therein.

 

    28

     

    

 

11.9. Notices.
All notices and other communications in connection with this Agreement shall be in writing and shall be sent to the respective
Parties at the following addresses, or to such other addresses as may be designated by the Parties in writing from time to time
in accordance with this Section 11.9, by (i) registered or certified mail, postage prepaid, (ii) express courier service,
service fee prepaid, or (iii) electronic mail:

 

To the Company:

 

NeuroOne Medical Technologies Corporation

7599 Anagram Drive

Eden Prairie, MN 55344

Attn: Dave Rosa

Email: DaveR@N1MTC.com

 

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

 

Honigman LLP

650 Trade Centre Way, Suite 200

Kalamazoo, MI 49002

Attention: Phillip D. Torrence

Email: ptorrence@honigman.com

 

To Zimmer:

 

Zimmer, Inc.

c/o General Manager

Zimmer Biomet CMF and Thoracic LLC

1520 Tradeport Drive

Jacksonville, FL 32218

Email: brian.hatcher@zimmerbiomet.com

 

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

 

Zimmer, Inc.

345 East Main Street

Warsaw, Indiana 46580

Attn: General Counsel

Email: legal.americas@zimmerbiomet.com

 

All notices shall be deemed given and received
(i) if delivered by hand, immediately, (ii) if sent by mail, five Business Days after posting, or (iii) if delivered by email or
express courier service, the next Business Day in the jurisdiction of the recipient.

 

    29

     

    

 

11.10. Counterparts;
Electronic or Facsimile Transmission. This Agreement may be executed in counterparts, each of which will be deemed to be an
original and all of which together will be deemed to be one and the same instrument. This Agreement may be delivered by one or
both Parties by facsimile or electronic transmission with the same effect as if delivered personally.

 

11.11. Further
Assurances. From time to time, as and when requested by either Party, the other Party will execute and deliver, or cause to
be executed and delivered, all such documents and instruments and will take, or cause to be taken, all such further actions as
such other Party may reasonably deem necessary or desirable to carry out the intentions of the Parties embodied in this Agreement.

 

11.12. Jointly
Prepared. This Agreement has been prepared jointly and will not be strictly construed against either Party.

 

11.13. Assignment.
Except as expressly provided hereunder, neither this Agreement nor any rights or obligations hereunder may be assigned or otherwise
transferred by either Party without the prior written consent of the other Party (which consent shall not be unreasonably withheld);
provided, however, that either Party may assign or otherwise transfer this Agreement and its rights and obligations hereunder without
the other Party’s consent:

 

(a) in
connection with the transfer or sale of all or substantially all of the business or assets of such Party relating to the Products
to a Third Party, whether by merger, consolidation, divesture, restructure, sale of stock, sale of assets, or otherwise; or

 

(b) to
an Affiliate, provided that the assigning Party shall remain liable and responsible to the non-assigning Party hereto for the performance
and observance of all such duties and obligations by such Affiliate, and provided further that if the entity to which this Agreement
is assigned ceases to be an Affiliate of the assigning Party, the Agreement shall be automatically assigned back to the assigning
Party or its successor.

 

The rights and obligations
of the Parties under this Agreement shall be binding upon and inure to the benefit of the successors and permitted assigns of the
Parties specified above, and the name of a Party appearing herein will be deemed to include the name of such Party’s successors
and permitted assigns to the extent necessary to carry out the intent of this Section 11.13. Any assignment not in accordance
with this Section 11.13 shall be null and void.

 

11.14. Relationship
of Parties. Each Party to this Agreement is an independent contractor. Employees and agents of one Party are not employees
or agents of the other Party, will not hold themselves out as such, and will not have any authority or power to bind the other
Party to any contract or other obligation.

 

11.15. Third-Party
Beneficiaries. Nothing in this Agreement, whether express or implied, is intended to confer any rights or remedies under or
by reason of this Agreement on any Persons other than the Parties hereto and their respective successors, assigns and Affiliates.

 

    30

     

    

 

11.16. Force
Majeure. Neither Party shall be deemed to breach this Agreement to the extent that such Party is prevented from or delayed
in performing its obligations hereunder due to any causes that are, and that would notwithstanding the exercise of reasonable diligence
be expected to be, beyond such Party’s reasonable control (such causes, “Force Majeure Events”), but only
to the extent that (a) the effects of such Force Majeure Events upon the functions, activities and efforts of the affected
Party to perform its obligations hereunder is not greater or more than its effects on such similar or related functions, activities
or efforts of such Party or its vendors performed in connection with the Party’s own business and (b) the affected Party
uses its Commercially Reasonably Efforts to mitigate the effects of the Force Majeure Events, including without limitation, by
working around any constraints on such Party’s ability to perform its obligations hereunder that arise as a result of such
Force Majeure Event (“Work-Around Efforts”). Upon any Force Majeure Event, the affected Party shall give notice
of such event as soon as reasonably practicable to the other Party stating the extent and duration of the impact that such event
will have on its performance of its obligations hereunder and the cause thereof, and the affected Party shall resume the performance
of its obligations as soon as reasonably practicable. Neither Party shall be liable for the nonperformance or delay in performance
of its obligations under this Agreement when such failure is due to a Force Majeure Event, provided that the affected Party implements
any feasible Work-Around Efforts.

 

The following Exhibits form an integral
part of the Agreement:

 

	Exhibit A	Definitions
	Exhibit B	Development Plan
	Exhibit C	Critical Features
	Exhibit D	Form of Supply Agreement
	Exhibit E	Form of Quality Agreement
	Exhibit F	[**] Transfer Price

 

[remainder
of page intentionally blank; signature page follows]

 

    31

     

    

 

The Parties have executed
this Agreement as of the Effective Date to evidence their agreement to the terms and provisions set forth herein.

 

	
        
	Zimmer, Inc.
	 	 	 
	 	By: 	 
	 	 	Chad F. Phipps, 

Senior Vice President
	 	 	 
	 	NeuroOne Medical Technologies Corporation
	 	 	 
	 	By: 	 
	 	 	David Rosa, 

President and Chief Executive Officer

 

[Signature page to Exclusive Development
and Distribution Agreement]

 

    

     

    

EXHIBIT
A

 

DEFINITIONS

 

“Acceptance”
means, with respect to Deliverables, confirmation by Zimmer, acting reasonably, that such Deliverables satisfy the applicable Acceptance
Criteria.

 

“Acceptance
Criteria”, with respect to any Deliverables, has the meaning set forth in the Development Plan for such Deliverables.

 

“Adverse Risk”
means any risk of an adverse effect on the Development, procurement or maintenance of Regulatory Approval or Commercialization
of a Product.

 

“Affiliate”
means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by or is under common control
with such Person. A Person shall be deemed to control another Person if such Person (i) possesses the power to direct or cause
the direction of the management, business and policies of such Person, whether by contract or otherwise, and/or (ii) owns fifty
percent (50%) or more of the voting securities of such Person.

 

“Agreement”
has the meaning set forth in the opening paragraph.

 

“Anti-Corruption
Law” means the U.S. Foreign Corrupt Practices Act of 1977, as amended, and all anti-corruption or anti-bribery Applicable
Laws of any jurisdiction where any Company directly or indirectly designs, develops, manufactures, markets, distributes or sells
products or that is otherwise applicable to the business of the Company.

 

“Applicable
Law(s)” means all applicable laws, ordinances, rules and regulations of any kind whatsoever of any governmental (including
international, foreign, federal, state and local) or Regulatory Authority, including HIPAA and all other data privacy and security
laws and laws governing the use, disclosure and protection of information and the U.S. Foreign Corrupt Practices Act of 1977; the
U.S. Travel Act, 18 U.S.C. § 1952; the Anti-Kickback Statute, 42 U.S.C. § 1320a-7b(b); the Physician Self-Referral Law,
42 U.S.C. § 1395nn; the U.K. Bribery Act 2010; any applicable Law enacted in connection with, or arising under, the OECD Convention
on Combating Bribery of Foreign Public Officials in International Business Transactions; or any other applicable Law or regulation
of any foreign or domestic jurisdiction relating to bribery or corruption.

 

“Approved Design
Modification” means [**].

 

“[**]”.

 

    A-1

     

    

 

“Business Day”
means any day other than a Saturday, a Sunday or a day on which banks in New York City are authorized or obligated by law or executive
order to remain closed.

 

“Chosen Courts”
has the meaning set forth in Section 11.6(a).

 

“Change in
Control Transaction” means: (a) the sale of all or substantially all of the assets of the Company to an unrelated person
or entity; (b) a merger, reorganization, consolidation or similar transaction pursuant to which the holders of the Company’s
outstanding voting power immediately prior to such transaction do not own a majority of the outstanding voting power of the resulting
or successor entity (or its ultimate parent, if applicable) immediately upon completion of such transaction; or (c) the sale of
all of the stock of the Company to an unrelated person or entity.

 

“Claim”
means any and all manner of claims, actions, suits, damages, demands and liabilities whatsoever in law or equity, whether known
or unknown, liquidated or unliquidated, fixed, contingent, direct or indirect.

 

“Commercialize”
or “Commercialization” means the conduct of all activities undertaken before and after Regulatory Approval relating
to the promotion, sales, marketing, medical support, and distribution (including importing, exporting, transporting, customs clearance,
warehousing, invoicing, handling, and delivering Products to customers) of Products in the Field, including sales force efforts,
detailing, advertising, market research, medical education and information services, marketing, sales force training, and sales
(including receiving, accepting and filling Product orders) and distribution.

 

“Commercially
Reasonable Efforts” means, with respect to a Party and its obligations under this Agreement, those commercially reasonable
efforts and resources consistent with the usual practices of a similarly situated company for the development and commercialization
of a product originating from its own research and development department without a royalty obligation to others, which is at a
similar stage of research, development, or commercialization, taking into account that product’s profile of efficacy and
safety; proprietary position, including patent exclusivity; regulatory status, including anticipated or approved labeling and anticipated
or approved post-approval requirements; present and future market and commercial potential, including competitive market conditions
(but not taking into account any payment owed to the other Party under this Agreement), and all other relevant factors, including
technical, legal, scientific and/or medical factors.

 

“Company”
has the meaning set forth in the opening paragraph.

 

“Company Background
IP” has the meaning set forth in Section 2.1.

 

“Company
IP” means, collectively, the Company Background IP, the Company Program IP and all rights of the Company in the Joint
Program IP (which, for the avoidance of doubt, does not include any rights of Zimmer in the Joint Program IP).

 

“Company Program
IP” has the meaning set forth in Section 2.2(a)(ii).

 

    A-2

     

    

 

“Competitive
Triggering Event” has the meaning set forth in Section 1.7.

 

“Competitive
Triggering Event Termination Fee” means [**].

 

“Confidential
Information” has the meaning set forth in Section 9.2.

 

“Copyrights”
means all rights in original works of authorship fixed in any tangible medium of expression under the copyright laws of the United
States or any other country (and including all rights accruing by virtue of bilateral or international copyright treaties and conventions),
including, but not limited to, all renewals, extensions, reversions or restorations of copyrights now or hereafter provided for
by law and all rights to make applications for copyright registrations and recordations, regardless of the medium of fixation or
means of expression.

 

“Deliverables”
means, with respect to a Product, the Deliverables for such Product set forth in the Development Plan.

 

“Design History
File” means, with respect to any Product, each of the following (i) design control process and revision, (ii) design and
development plan, (iii) user needs / intended uses / design inputs, DCTM (inputs), (iv) design review I meeting minutes and attachments,
(v) design outputs, DCTM (outputs), (vi) design review II meeting minutes and attachments, (vii) design verification protocols
/ reports, (viii) design validation protocols / reports, (ix) design verification / validation, DCTM (complete), (x) design review
III meeting minutes and attachments, (xi) additional design review minutes and attachments (if applicable), (xii) final responses
to design review observations, (xiii) risk management file, (xiv) usability engineering file, (xv) design transfer activities (specification
review and checklist), (xvi) design transfer checklist, (xvii) design closure checklist and (xviii) the information required to
be created and/or maintained under the Company’s SOP-01004, as amended from time to time.

 

“Designated
Jurisdictions” means (a) the United States and (b) any jurisdictions other than the United States where Zimmer determines,
after consultation with the Company, to market and sell one or more Products.

 

“Development”
or “Develop” means any act or process for the purposes of (i) creating or causing something to be created; or
(ii) making something more advanced. For clarity, Development does not include marketing or sales of a commercial product.

 

“Development
Plan” has the meaning set forth in Section 1.2.

 

“Distributor”
means a Third Party that markets, distributes, promotes and/or sells a Party’s products under a contractual arrangement with
the Party.

 

“Effective
Date” has the meaning set forth in the opening paragraph.

 

“Electrode
Cable Assembly Products” means an assembly consisting of EEG cables and a ZIF connector box, which serves to connect cortical
electrodes or SEEG electrodes to an EEG recording headbox.

 

    A-3

     

    

 

“Enforcement
Action” has the meaning set forth in Section 2.6.

 

“Exclusivity
Fees” has the meaning set forth in Section 6.1(b).

 

“FDA”
means the United States Food and Drug Administration and any successor agency.

 

“FDA Approval”
means, with respect to any Product, clearance by the FDA of a 510(k) application for such Product.

 

“FFDCA”
means the United States Federal Food, Drug, and Cosmetic Act, 21 U.S.C. 301, et. seq., as amended, and the rules, regulations,
guidance, guidelines and requirements promulgated or issued thereunder.

 

“Field”
means neurosurgery.

 

“Field Action”
means any action by a Party that meets the criteria of “recall,” “correction,” or “removal” or similar
field or customer action as defined by applicable Regulatory Law.

 

“Final Bonus
Deadline” means (a) if Zimmer timely delivers a Design Modification Notice, then [**]; and (b) if Zimmer does not timely
deliver a Design Modification Notice, then [**].

 

“First Commercial
Sale” means the first commercial sale by Zimmer or its Affiliates on an arms’ length basis to an end user of a Product
in any country following receipt of Regulatory Approval to do so. For avoidance of doubt, sales for purposes of test marketing
(including a Limited Market Release), sampling, or promotion shall not constitute a First Commercial Sale.

 

“Force Majeure
Events” has the meaning set forth in Section 11.16.

 

“Governmental
Authority” means any country in which any of the Products is manufactured, marketed, sold, tested, investigated or otherwise
regulated, and all states or other political subdivisions thereof and supranational bodies applicable thereto, including the European
Union, and all agencies, commissions, officials, courts or other instrumentalities of the foregoing.

 

“Governmental
Entity” means any:

 

(i) U.S.
federal, state, local or municipal government or non-U.S. government or subdivision thereof;

 

(ii) governmental
or quasi-governmental authority of any nature (including any governmental agency, branch, department, official, instrumentality
or entity and any court or other tribunal);

 

(iii) multi-national
organization or body; or

 

(iv) body
exercising, or entitled to exercise, any administrative, executive, judicial, legislative, police, regulatory or taxing authority
or power.

 

    A-4

     

    

 

“Government
Official” means any (i) officer, employee or agent of any Governmental Entity; (ii) any official, employee or agent of
a public international organization; (iii) any Person acting in an official capacity on behalf of such government, instrumentality
or public international organization; (iv) any political party official or candidate for political office; (v) a member of a royal
family; or (vi) any officer or employee of a government-owned or controlled enterprise, company or organization. In many instances,
Health Care Professionals who work at or are otherwise affiliated with public hospitals or universities may be considered Government
Officials.

 

“Health Care
Professional” means an individual, entity, or employee of such entity, within the continuum of care of patients, which
may purchase, lease, recommend, use, prescribe, or arrange for the purchase or lease of medical device products and services.

 

“HIPAA”
means the Health Insurance Portability and Accountability Act of 1996, as amended, and the rules and regulations implementing the
same.

 

“Industrial
Designs” means all features of shape, configuration, pattern, ornament and the like that are or can be registered as designs
or industrial designs under Applicable Laws and all applications, registrations and renewals in connection therewith.

 

“Infringement
Claim” has the meaning set forth in Section 2.6.

 

“Initial Exclusivity
Fee” has the meaning set forth in Section 6.1(a).

 

“Initial Stocking
Order” has the meaning set forth in Section 6.2(b).

 

“Insolvency
Event” means that the Party has (i) commenced a voluntary proceeding under any insolvency law, or (ii) had an involuntary
proceeding commenced against it under any insolvency law which has continued undismissed or unstayed for 60 consecutive days, or
(iii) had a receiver, trustee or similar official appointed for it or for any substantial part of its property, or (iv) made an
assignment for the benefit of creditors, or (v) had an order for relief entered with respect to it by a court of competent jurisdiction
under any insolvency law. For purposes hereof, the term “insolvency law” means any applicable bankruptcy, insolvency
or other similar law now or hereafter in effect.

 

“Intellectual
Property” means Patent Rights, Copyrights, Trademarks, Industrial Designs, and Proprietary Information.

 

“Intellectual
Property Rights” means all forms of legal rights and protections that may be obtained under Applicable Laws for Intellectual
Property.

 

“Interim Fee
Bonus” has the meaning set forth in Section 6.1(c).

 

“IP”
means Patent Rights and Know-How.

 

“JDC”
has the meaning set forth in Section 1.8.

 

“Joint Program
IP” has the meaning set forth in Section 2.2(a)(iii).

 

    A-5

     

    

 

“Know-How”
means information and materials (including but not limited to ideas, discoveries, improvements, inventions, know-how, trade secrets,
processes, methods, protocols, formulas, data and designs), whether patentable or not, that are in the possession or under the
control of a Party and are not generally known or publicly available.

 

“Limited Market
Release” means, with respect to a Product, the sale or transfer of such Product by Zimmer or its Affiliates or Distributors
to one or more Third Parties or end-users to conduct the initial clinical cases. For context, this occurs in a limited number of
centers and patients over a limited time (estimated twenty-five (25) patients over three (3) months.

 

“LMR Order”
has the meaning set forth in Section 6.2(b).

 

“Losses”
has the meaning set forth in Section 8.4(a).

 

“Medical Device
Tax” means an excise tax on the sale of certain medical devices by the manufacturer or importer of the device imposed
by Section 4191 of the Internal Revenue Code of 1986, as amended.

 

[**].

 

“Other Product
Specifications” means, with respect to any Product, the specifications and requirements for the Development of such Product
as set forth in Exhibit B or as otherwise determined by the JDC by amendment of the Development Plan in accordance with
Section 1.8.

 

“Party”
or “Parties” has the meaning set forth in the opening paragraph.

 

“Patent Rights”
means patents and patent applications, including (i) certificates of invention and applications therefor; (ii) divisionals, continuations,
continuations-in-part, reissues, renewals, substitutions, registrations, re-examinations, post-grant reviews, revalidations, extensions,
supplementary protection certificates, and the like of any of the foregoing; and (iii) foreign equivalents of any of the foregoing.

 

“Person”
means a natural person, a corporation, a partnership, a trust, a joint venture, a limited liability company, any Governmental Authority,
or any other entity or organization.

 

“Proceeding”
has the meaning set forth in Section 11.6(a).

 

“Product Availability
Date” means, with respect to a Product, the first date on which all of the following have occurred: (a) FDA Approval of
the Product has been received, (b) the MS Agreement has been entered into or amended to provide for the manufacturing and supply
of the Product by the Company; (c) Zimmer has placed the LMR Order for the Product under the MS Agreement, and (d) the units of
the Product included in the LMR Order have been received and accepted by Zimmer following inspection as contemplated by the MS
Agreement.

 

“Product Complaint”
means any written, electronic or oral communication that alleges deficiencies related to the identity, quality, durability, reliability,
safety, efficacy or performance of any Product, including actual or suspected product tampering, contamination, mislabeling or
misformulation.

 

    A-6

     

    

 

“Product Improvement”
means any changes, optimizations or improvements to any Product or any of its components, whether or not patentable or subject
to a claim of copyright; provided, however, Product Improvements do not include any therapeutics devices or products used for treatment.

 

“Products”
means Strip/Grid Products, SEEG Products and Electrode Cable Assembly Products, and “Product” means any of them.

 

“Product Transaction”
has the meaning set forth in Section 4.5.

 

“Program Copyrights”
means all Copyrights authored by or on behalf of a Party or its Affiliates or subcontractors in the course of the Project.

 

“Program IP”
means all Program Copyrights, Program Know-How and Program Patent Rights.

 

“Program Know-How”
means all Know-How invented, conceived, discovered, created, made, developed, reduced to practice or otherwise perfected in the
course of the Project.

 

“Program Patent
Rights” means all Patent Rights that claim or disclose Program Know-How.

 

“Project”
has the meaning set forth in Section 1.1.

 

“Project Participant”
means each of Zimmer and the Company.

 

“Proprietary
Information” means a Party’s trade secrets, know how, business plans, manufacturing processes, source code, clinical
strategies, product specifications, scientific data, market analyses, formulae, designs, training manuals and other non-public
information (whether business, financial, commercial, scientific, clinical, regulatory or otherwise) that the Party treats as proprietary
and uses commercially reasonable efforts to protect.

 

“Prosecute”
means, in relation to any Patent Rights, (i) to prepare and file patent applications (including re-examinations or re-issues thereof)
and to represent applicant(s) or assignee(s) before relevant patent offices or other relevant authorities during examination, re-examination
and re-issue thereof in appeal processes and interferences or any equivalent proceedings, (ii) to secure the grant of any Patent
Rights arising from such patent applications, (iii) to maintain in force any issued Patent Right (including through payment of
any relevant maintenance fees), and (iv) to make all decisions with regard to any of the foregoing activities. “Prosecution”
has a corresponding meaning.

 

“Protected
Data” means information protected by Applicable Laws, including but not limited to all data related to patients, all protected
health information, as defined by HIPAA, personal data as defined by the General Data Protection Regulation, and any other personal
and identifiable data that is produced, analyzed, collected or stored using or within Products, regardless of the form or location
of the storage, provided that such Protected Data was made available in accordance with Applicable Laws for use by the Company
and/or Zimmer.

 

    A-7

     

    

 

“Quality Agreement”
has the meaning set forth in Section 5.3.

 

“Regulatory
Approval” means, with respect to any country or region, any approval, product and establishment license, registration
or authorization of any Regulatory Authority required for the manufacture, use, storage, importation, exportation, transport, distribution
or sale of the Product in such country or region.

 

“Regulatory
Authority” or “Regulatory Authorities” means, with respect to any country or jurisdiction, any Governmental
Authority, entity or agency involved in granting regulatory approval for the manufacture, marketing, sale, reimbursement and/or
pricing of the Product, or in administering Regulatory Laws in that country or jurisdiction, including the FDA in the United States.

 

“Regulatory
Filings” means all applications, dossiers, notifications, requests and other documents that may be filed with a Regulatory
Authority seeking approval to engage in development, manufacturing or Commercialization activities with respect to the Product
or seeking any regulatory designation or status with respect to the Product, as well as all supplements and amendments to the foregoing.

 

“Regulatory
Laws” means all Applicable Laws governing the import, export, testing, investigation, manufacture, marketing or sale of
a product, or establishing recordkeeping or reporting obligations for product complaints or adverse events, or relating to product
recalls or similar regulatory matters.

 

“Related Instruments”
means a ruler, a stylet, drill bits, a driver and a coagulator to be used with the SEEG Products.

 

“ROFN Notice”
has the meaning set forth in Section 4.5.

 

“ROFN Period”
has the meaning set forth in Section 4.5.

 

“SEEG Distribution
License” has the meaning set forth in Section 2.4(a).

 

“SEEG Exclusive
License Period” has the meaning set forth in Section 10.2(a).

 

“SEEG Exclusivity
Confirmation Date” has the meaning set forth in Section 2.4(a).

 

“SEEG Exclusivity
Maintenance Fee” means (a) if the Product Availability Date for the SEEG Products occurs on or before [**], then $[**],
plus the amount of any Interim Fee Bonuses earned pursuant to Section 6.1(c), including any such Interim Fee Bonus
earned after [**] pursuant to Section 6.1(c)(iv) following the delivery of a Design Modification Notice; (b) if the Product
Availability Date for the SEEG Products occurs after [**], but on or before [**], then $[**], plus if Zimmer timely issues
a Design Modification Notice, any Interim Fee Bonus earned pursuant to Section 6.1(c)(iv); (c) if the Product Availability
Date for the SEEG Products occurs after [**], but on or before [**], then $[**]; and (d) if the Product Availability Date for the
SEEG Products occurs after [**], then $[**].

 

    A-8

     

    

 

“SEEG Products”
means depth electrodes of any size or configuration, consisting of implants placed into the brain for monitoring or mapping the
subsurface levels of the brain for the surgical diagnosis of neurological conditions, including epilepsy, together with anchor
bolts, caps and associated instrumentation; provided, however, SEEG Products do not include any therapeutics devices or products
used for treatment.

 

“Specifications”
means, collectively, (i) the Company’s design and functionality specifications relating to the Products in the Company’s
sales literature and other Product documentation made available to Zimmer, and (ii) any specifications for manufacturing, testing,
storing, packaging, shipping or labeling the Products set forth in any approved application for Regulatory Approval and any supplements
and amendments thereto.

 

“Strip/Grid
Distribution License” has the meaning set forth in Section 2.4(a).

 

“Strip/Grid
Exclusive License Period” has the meaning set forth in Section 10.2(a).

 

“Strip/Grid
Products” means cortical electrodes (strips and grids) of any size or configuration, consisting of implants placed onto
the surface of the brain for monitoring or mapping surface levels of the brain for the surgical diagnosis of neurological conditions,
including epilepsy; provided, however, Strip/Grid Products do not include any therapeutics devices or products used for treatment.

 

“Subdistributor”
has the meaning set forth in Section 2.4(c).

 

“Taxes”
means any and all federal, state and local taxes, including the Medical Device Tax, excise or gross receipts taxes, personal property
taxes, customs, duties or levies, and any foreign taxes.

 

“Term”
has the meaning set forth in Section 10.1.

 

“Territory”
means the entire world.

 

“Third Party”
means Persons other than the Parties or Affiliates thereof.

 

“Trademarks”
means all trademarks, service marks, trade dress, logos, labels, domain names, websites and trade names, together with all translations,
adaptations, derivations and combinations thereof (including all goodwill associated therewith), and all applications, registrations
and renewals in connection therewith.

 

“Transition
Period” has the meaning set forth in Section 10.3(d).

 

“WARF License”
means that certain Amended and Restated Exclusive Start-Up Company License Agreement, dated January 21, 2020 entered into by and
between the Company and Wisconsin Alumni Research Foundation, as amended, restated, supplemented or otherwise modified from time
to time.

 

“Work-Around
Efforts” has the meaning set forth in Section 11.16.

 

“Zimmer”
has the meaning set forth in the opening paragraph.

 

“Zimmer Distribution
License(s)” has the meaning set forth in Section 2.4(a).

 

“Zimmer Program
IP” has the meaning set forth in Section 2.2(a)(i).

 

 

 

A-9Exhibit 10.1

 

 

 

July 20, 2020

  

Dear Anne,

 

It is my pleasure to confirm the offer by
Summit Materials, Inc., a Delaware corporation (“Summit”), to you for the position of President and Chief Executive
Officer of Summit, reporting to the Board of Directors of Summit (the “Board”). Your appointment has been approved
by the Board, and your compensation package as outlined herein has been approved by the Board’s Compensation Committee (the
 “Compensation Committee”) as well as the Board. This offer is contingent upon your completing all applicable
pre-employment screening and paperwork as further detailed below. The terms of our offer are as follows:

 

1.                  
Start Date and Appointment Date: Your employment with Summit will commence on July 20, 2020, or such other date as
mutually agreed between you and Summit (the “Start Date”). You will be appointed President and Chief Executive
Officer of Summit effective September 1, 2020, or such other date as mutually agreed between you and Summit (the “Appointment
Date”). In addition, you will be elected by the Board to serve as a member of the Board effective as of the Appointment
Date. You and Summit will enter into Summit’s standard form of indemnification agreement with its executive officers and
directors. Upon termination of your employment for any reason, you agree to resign, as of the date of such termination and to the
extent applicable, from the Board (and any committees thereof) and the board of directors (and any committees thereof) of any of
Summit’s affiliates.

 

2.                  
Annual Base Salary: Commencing on the Start Date, your annual base salary will be $925,000, payable in accordance
with Summit’s customary payroll practices. Your annual base salary is subject to increase but not decrease, other than in
connection with an across the board reduction in compensation of similarly situated employees of, on an individual-by-individual
basis, less than ten percent (10%).

 

3.                  
Annual Incentive Award Opportunity: Your target annual incentive award will be one hundred twenty-five percent (125%)
of annual base salary, with performance metrics to be established in accordance with the Compensation Committee’s policies
applicable to Summit’s executive officers and after consultation with you. Your actual 2020 annual incentive award will be
pro-rated based on the number of days from the Start Date until the end of the 2020 fiscal year and will be determined by the Board
in its good faith discretion, and after consultation with you, based on corporate and individual performance.

 

    1

     

    

 

 

 

4.                  
Long-Term Equity Incentive Plan: You will be eligible to participate in and receive long-term equity incentive awards
each year of your employment under the Summit Materials, Inc. 2015 Omnibus Incentive Plan (as such may be amended, restated or
replaced) (the “Incentive Plan”), at the discretion of the Board or the Compensation Committee. The target grant
date values and equity vehicles for your awards will be reviewed on an annual basis and established annually commensurate with
your position, as determined by the Compensation Committee.

 

		a.	For 2020, the aggregate target grant date value (the “2020 Equity Target”) for your initial equity awards
will be three hundred and five percent (305%) of annual base salary, or $2,821,250, to be split evenly (based on the most recent
average 20-day price of Summit’s stock at the time of grant) between Performance Share Units (“PSUs”)
and Restricted Stock Units (“RSUs”). Such awards will be granted on or promptly following the Start Date. Except
as set forth in clause (a)(i) and (a)(ii) below, the initial PSUs and RSUs will be subject to the standard terms utilized for grants
to Summit’s executive officers.

 

		i.	The initial PSUs will be earned after the three (3)-year performance period established for awards granted to Summit’s
executive officers in 2020 and subject to the same financial targets. Subject to your continued employment, earned shares will
be prorated based on the number of days between the Start Date and the end of the three (3)-year performance period that is December
31, 2022. If your employment is terminated by Summit without Cause or should you resign from Summit as a result of Constructive
Termination, a pro-rated number of the PSUs shall remain outstanding and eligible to vest based on whether (and to the extent)
the Compensation Committee determines that the applicable performance conditions have been satisfied on the Determination Date,
so long as no Restrictive Covenant Violation occurs, as determined by the Compensation Committee, or its designee, in its sole
discretion, prior to the applicable vesting date, with such pro-rated number of PSUs which remain outstanding calculated based
on the number of days in the performance period prior to the date of your termination of employment relative to the number of the
days in the full performance period. A number of PSUs equal to the target number of PSUs shall become vested immediately prior
to a Change in Control if the PSUs would not otherwise be continued, converted, assumed or replaced by Summit or a successor entity
in connection with such Change in Control. If your employment with Summit (or a successor) is terminated by Summit (or a successor)
without Cause or should you resign from Summit (or a successor) as a result of Constructive Termination during the two (2)-year
period following a Change in Control, a pro-rata portion of the target number of PSUs shall become vested as of the date of your
termination of employment.

 

		ii.	The number of initial RSUs awarded to you will be prorated at seventy-five percent (75%) of the 2020 Equity Target and will
vest in equal annual installments over three (3) years, subject to your continued employment through each such vesting date. If
your employment is terminated by Summit without Cause or should you resign from Summit as a result of Constructive Termination
(other than in connection with a Retirement), a pro-rata portion of the number of RSUs which would otherwise vest on the next applicable
vesting date shall become vested based on the number of days elapsed since the prior vesting date (or the date of grant if there
has been no prior vesting date). The RSUs shall become vested immediately prior to a Change in Control if the RSUs would not otherwise
be continued, converted, assumed or replaced by Summit or a successor entity in connection with such Change in Control. If your
employment with Summit (or a successor) is terminated by Summit (or a successor) without Cause or should you resign from Summit
(or a successor) as a result of Constructive Termination during the two (2)-year period following a Change in Control, one hundred
percent (100%) of the RSUs shall become vested.

 

    2

     

    

 

 

 

		b.	PSUs and RSUs granted to you following the initial awards described above will be subject to the standard terms utilized for
grants to Summit’s other executive officers; provided, that unless such standard terms are more favorable, the terms
set forth above in clause (a)(i) and (a)(ii) of this paragraph 4 shall apply with respect to vesting in connection with a Change
in Control or termination without Cause or a Constructive Termination, including following a Change in Control. For this paragraph
4, all capitalized terms shall have the meanings set forth in the applicable form of award notice and award agreement, except that
 “Change in Control” shall have the meaning set forth in the Incentive Plan and “Cause” and
 “Constructive Termination” shall have the meanings set forth in the Summit Materials, Inc. Executive Severance
Plan (the “Executive Severance Plan”); provided further, that in the case of “Constructive Termination,”
such definition shall be modified as reflected in the Participation Notice and Agreement set forth in Exhibit A to this
offer letter (the “Severance Plan Participation Agreement”).

 

5.                  
Sign-on Bonus: On or within thirty (30) days following the Start Date, Summit will pay you a one-time, lump sum sign-on
bonus of $100,000 (the “Sign-on Bonus”); provided, that should your employment be terminated by Summit
for Cause or should you resign from Summit other than as a result of Constructive Termination within twelve (12) months following
the Start Date, you will be required to repay the full Sign-On Bonus or, if such employment termination occurs on or after
January 1, 2021, the after-tax amount of the Sign-On Bonus. “Cause” and “Constructive
Termination” shall have the meanings set forth in the Executive Severance Plan, except that for purposes of this paragraph
5, the definition of “Constructive Termination” shall be modified as reflected in the Severance Plan Participation
Agreement.

 

6.                  
Executive Severance Plan: You will participate in the Executive Severance Plan subject to the terms and conditions
applicable to the Chief Executive Officer except that, as reflected in the Severance Plan Participation Agreement, the definition
of “Constructive Termination” applicable to you shall be modified, the applicable “Post-Termination Period”
will be twenty-four (24) months and the non-solicit covenant will cover any client or prospective client with whom you had personal
contact or dealings on behalf of Summit during the two-year period preceding the termination of your employment. On or before the
Start Date, the Company and you will enter into the Severance Plan Participation Agreement.

 

7.                  
Employee Benefits:  You will be eligible to participate in Summit’s health, life and disability insurance,
retirement and other employee benefits plans and programs as in effect and made available from time to time, on the same basis
as those benefits are generally made available to other executive officers of Summit. Medical benefits will commence on the first
day of the month following the sixtieth (60th) day after the Start Date. In addition to your eligibility to participate in Summit’s
other employee benefits plans and programs, Summit will provide you a $4,000,000 term life insurance policy during the term of
your employment with Summit.

 

8.                  
Relocation: In connection with your employment by Summit, you hereby agree to relocate your primary residence to
the Denver, Colorado area. In connection with such relocation, Summit will reimburse you for the following expenses:

 

		a.	One seven (7)-day house hunting trip to the Denver, Colorado area for you and your significant other including airfare, lodging,
meals and car rental.

 

		b.	Reimbursement for costs associated with terminating the lease of your current primary residence.

 

		c.	Direct payment for reasonable expenses associated with the packing, shipping and unpacking of your household goods from your
current primary home, including full replacement insurance.

 

		d.	Reimbursement for reasonable expenses associated with the physical move of your family including airfare, lodging, meals and
car rental.

 

		e.	Shipment of one vehicle to the Denver, Colorado area with associated vehicle shipment insurance.

 

		f.	Up to three (3) months of temporary living expenses in the Denver, Colorado area.

 

		g.	Up to three (3) months of storage for household goods subsequent to your permanent relocation to the Denver, Colorado area.

 

All of the expenses listed above in this paragraph 8 must be
documented and submitted to Summit in accordance with its ordinary reimbursement practices. At its discretion, Summit may utilize
a third-party relocation services provider to coordinate with you directly and manage your relocation to the Denver, Colorado area.

 

Any taxable reimbursements and/or payments by Summit described
above in this paragraph 8 will be “grossed up” by Summit using an assumed rate for Federal, state and/or local income
taxes that Summit reasonably determines to be applicable to your situation.

 

    3

     

    

 

 

 

9.                  
Executive Representation: By signing this letter you represent that: (1) you are not a party to any agreement that
would prohibit you from entering into employment with Summit; (2) no trade secret or proprietary information belonging to your
previous employers will be disclosed by you at Summit and that no such information, whether in the form of documents, memoranda,
software, drawings, etc., will be retained by you or brought with you to Summit; (3) you have brought to Summit’s attention
and provided Summit with a copy of any agreement, order of any court or administrative body or any other similar item that may
affect your future employment at Summit, including but not limited to any non-disclosure, non-competition, non-solicitation or
invention assignment agreements containing future work restrictions; and (4) you have never been terminated, suspended, or otherwise
disciplined by an employer or organization for conduct that was alleged to be in violation of that employer/organization’s
personnel policies, including but not limited to policies concerning harassment, discrimination, or other misconduct.

 

10.              
Restrictive Covenants: As a condition of your employment, you agree to be bound by the provisions (including restrictive
covenants) set forth in Appendix A of the Severance Plan Participation Agreement. Such terms are in addition to any restrictive
covenant obligations to which you may otherwise be subject.

 

11.              
Legal Fees: Summit will also reimburse you for your legal fees incurred in connection with your review and finalization
of the terms of your employment with Summit, not to exceed $30,000.

 

12.              
Additional Terms: All compensation provided to you, including any cash or equity-based compensation, will be subject
to Summit’s collection of the applicable withholding taxes, and except as otherwise specifically stated in paragraph 8 of
this letter, Summit will not gross-up or make whole for any such taxes.

 

13.              
Conditional Offer: This letter is a confirmation of a conditional employment offer and should not be construed as
an employment contract. Summit may elect to have Summit, Summit Materials Holdings L.P. or Summit Materials, LLC serve as your
actual employer, but any such determination shall not otherwise affect Summit’s or your obligations under this letter. Upon
acceptance, we will provide you with new-hire paperwork, including an acknowledgement of your agreement to abide by Summit’s
Code of Conduct, a Director and Officer’s Questionnaire, and an I-9 form, which is required by the United States government
to verify employment eligibility. Our offer is further subject to satisfactory completion of a background check, drug screening
and reference checks. You agree by signing below that Summit has made no other promises other than what is outlined in this letter
and that this letter contains the entire offer Summit is making to you. You also agree that should you accept a position at Summit,
the employment relationship is based on the mutual consent of you and Summit. Accordingly, either you or Summit can terminate the
employment relationship at will, at any time, with or without cause or advance notice.

 

Please acknowledge your agreement with the
terms of this letter, including the provisions of Appendix A of the Severance Plan Participation Agreement, by signing and
returning this letter for our files by email to anne.benedict@summit-materials.com.

 

    4

     

    

 

 

 

Anne, the Board is excited for our future
and we are delighted to welcome you to Summit.

 

Sincerely,

 

	/s/ Howard L. Lance	 

Howard L. Lance

Chairman of the Board of Directors

  

	 	Accepted:	/s/ Anne P. Noonan
	 	
         

        Date:
	
        Anne P. Noonan
July 20, 2020

 

    5

     

    

 

Exhibit A

 

SUMMIT MATERIALS, INC.

EXECUTIVE SEVERANCE PLAN

 

  

Participation Notice and Agreement

 

  

	Participant: 	Anne P. Noonan 	 

  

Qualifying Termination / Qualifying

 Change
in Control Termination

	 	 
	Severance
    Multiple:	Tier
    1: 2.5x
	 	 
	Welfare
    Continuation Period:	Tier
    1: 30 months
	 	 
	Severance
    Payment Period:	Tier
    1: 30 months

 

Pursuant
to the letter agreement between Participant and Summit Materials, Inc., a Delaware corporation (“Summit” or the “Company”),
dated July 20, 2020 (the “Offer Letter”), I hereby agree to the terms and conditions of the Summit Materials, Inc.
Executive Severance Plan (as amended from time to time subject to the terms hereof, the “Plan”), including
the terms set forth in this Participation Notice and Agreement and the Restrictive Covenants attached as Appendix A
hereto. Capitalized terms used but not defined in this Participation Notice and Agreement shall have the meanings given to such
terms in the Plan.

 

I understand
that as a Participant under the Plan (a “Participant”), the terms of the Plan, to the extent not altered
by the Offer Letter and this Participation Notice, will exclusively govern all subject matters addressed by the Plan and that the
Plan, except as expressly provided in the Plan, is in lieu of and supersedes, as applicable, any and all agreements, plans, policies,
guidelines, and other arrangements, with respect to all subject matters covered under the Plan and my rights to severance upon
any Qualifying Termination or Qualifying Change in Control Termination.

 

The Company
and I agree that clause (vi) of the definition of “Constructive Termination” shall apply to any fiscal year for purposes
of my participation in the Plan only after I have completed one full fiscal year of service as an executive of the Company and
clause (v) of the definition of “Constructive Termination” shall read as follows: “(v) any amendment, termination
or discontinuance of either the Plan or any provision of the Plan that has the effect of reducing or diminishing the potential
benefits the Participant may receive under the Plan, regardless of whether any such amendment, termination or discontinuance has
become effective, or any material breach by the Company of this Plan (including the exhibits thereto) or the Participant’s
Participation Notice and Agreement (including Appendix A thereto) or any agreement between the Company and the Participant
relating to the Participant’s compensation (including any equity awards), or”, and I will be entitled to receive my
severance payments and benefits under the Plan in connection with my resignation as a result of such Constructive Termination.

 

    Exhibit A-1 

     

    

 

The Company
and I further agree that notwithstanding Section 5 of the Plan, no amendment, termination, or discontinuance of either the Plan
or any provision of the Plan that has the effect of reducing or diminishing the potential benefits I may receive under the Plan
shall be effective until the first (1st) anniversary of such amendment, termination, or discontinuance, except for any amendment
to the administrative provisions of the Plan that is considered by counsel to be required pursuant to applicable law.

 

I acknowledge
and recognize the highly competitive nature of the businesses of the Company Group, and that I will be allowed access to confidential
and proprietary information (including, but not limited to, trade secrets) about those businesses, as well as access to the prospective
and actual customers, suppliers, investors, clients, and partners involved in those businesses, and the goodwill associated with
the Company Group.

 

Accordingly,
I agree (and the Company agrees with respect to its obligations under Appendix A) to be bound by the provisions of
Appendix A to this Participation Notice and Agreement, which provisions are incorporated into this Participation
Notice and Agreement and made a part hereof.

  

Dated:                                      

	 	 
	 	PARTICIPANT
	 	 
	 	Anne
    P. Noonan
	 	 

  

COMPANY

 

		 

Name: 

Title: 

 

    Exhibit A-2

     

    

 

APPENDIX A

Restrictive Covenants

 

The
Participant acknowledges and recognizes the highly competitive nature of the businesses of the Company, that the Participant will
be allowed access to confidential and proprietary information (including, but not limited to, trade secrets) about those businesses,
as well as access to the prospective and actual customers, suppliers, investors, clients, and partners involved in those businesses,
and the goodwill associated with the Company. The Participant accordingly agrees to the provisions of this Appendix A
to the Participant’s Participation Notice and Agreement under the Summit Materials, Inc. Executive Severance Plan (as amended
from time to time, the “Plan”) (such provisions, the “Restrictive Covenants”).
For the avoidance of doubt, the Restrictive Covenants contained herein are in addition to, and not in lieu of, any other restrictive
covenants or similar covenants or agreements between the Participant and the Company or any of its Affiliates.

 

		1.	Confidentiality; Non-Compete; Non-Solicit; Non-Disparagement.

 

(a)              
For the purposes of this Appendix A, any reference to the “Company” shall
mean the Company and/or its Affiliates (as applicable), collectively. In view of the fact that the Participant’s work for
the Company brings the Participant into close contact with many confidential affairs of the Company not readily available to the
public, and plans for further developments, the Participant agrees that:

 

(i)                
the Participant will not at any time (whether during or after the Participant’s Employment): (1) retain or
use for the benefit, purposes, or account of the Participant or any other Person or (2) disclose, divulge, reveal, communicate,
share, transfer, or provide any Person outside the Company (other than its professional advisers who are bound by confidentiality
obligations) access to, any non-public, proprietary, or confidential information – including, without limitation, trade secrets,
know-how, research and development, software, databases, inventions, processes, formulae, technology, designs, and other intellectual
property, information concerning finances, investments, profits, pricing, costs, products, services, vendors, customers, clients,
partners, investors, personnel, recruiting, training, advertising, sales, marketing, promotions, government and regulatory activities
and approvals – concerning the past, current or future business, activities, and operations of the Company and/or any third
party that has disclosed or provided any of same to the Company on a confidential basis (collectively, “Confidential
Information”) without the prior written authorization of the Board, except as specifically necessary during the term
of the Participant’s Employment in order to perform the duties of the Participant’s position and in the best interests
of the Company. For purposes of this Appendix A, “Employment” shall mean, without any inference
for federal and other tax purposes, service as a part- or full-time officer, employee, consultant, or advisor or Board member of
or to the Company.

 

(ii)             
Confidential Information shall not include any information that is: (1) generally known to the industry or the public
other than as a result of the Participant’s breach of this covenant or any breach of other confidentiality obligations by
third parties, (2) made legitimately available to the Participant by a third party without breach of any confidentiality obligation,
or (3) required by law to be disclosed; provided, that the Participant shall give prompt and to the extent possible advance
written notice to the Company of such requirement, disclose no more information than is so required, and cooperate with any attempts
by the Company to obtain a protective order or similar treatment.

 

    Appendix A-1

     

    

 

(iii)            Upon
the Participant’s Termination, the Participant shall (1) cease and not thereafter commence use of any Confidential
Information or intellectual property (including, without limitation, any patent, invention, copyright, trade secret,
trademark, trade name, logo, domain name, or other source indicator) owned or used by the Company, (2) immediately destroy,
delete, or return to the Company, at the Company’s option, all originals and copies in any form or medium (including
memoranda, books, papers, plans, computer files, e-mail, text messages, letters, and other data) in the Participant’s
possession or control (including any of the foregoing stored or located in the Participant’s office, home, or laptop or
other computer, whether or not Company property) that contain Confidential Information or otherwise relate to the business of
the Company, except that the Participant may retain only those portions of any personal notes, notebooks, and diaries that do
not contain any Confidential Information, and (3) notify and fully cooperate with the Company regarding the delivery or
destruction of any other Confidential Information of which the Participant is or becomes aware.

 

(b)              
The Participant acknowledges and recognizes the highly competitive nature of the businesses of the Company and accordingly
agrees as follows:

 

(i)                
Participant will not, within twenty-four (24) months following the Participant’s Termination (the “Post-Termination
Period”) or during Participant’s Employment (together with the Post-Termination Period, the “Restricted
Period”), directly or indirectly:

 

(1)  
engage in any business involved in the U.S. and Canadian aggregates and related downstream product sectors (including,
but not limited to, asphalt, paving, cement, concrete, and concrete products) (any such business, a “Business”)
in any Restricted Area (any such business, a “Competitive Business”). For the purposes of this Appendix
A, “Restricted Area” shall mean any geographic area where each and any Employer of the Participant
during the Participant’s employment conducts or conducted, within the six-month period immediately preceding the Participant’s
Termination, Business; provided, that if the Employer with respect to a Participant is Summit Materials Holdings L.P., Summit
Materials, LLC, or any of their respective successors thereto at any time during the Participant’s Employment, the Restricted
Area shall be the United States and Canada.

 

(2)  
acquire a financial interest in, or otherwise become actively involved with, any Competitive Business, as an individual,
partner, shareholder, officer, director, principal, agent, trustee, or consultant; or

 

    Appendix A-2

     

    

 

(3)  
interfere with, or attempt to interfere with, business relationships (whether formed before, on, or after the date
of the Participant’s Participation Notice and Agreement) between the Company or any of its Affiliates and customers, clients,
suppliers, partners, members, investors, or acquisition targets.

 

(ii)             
During the Restricted Period, the Participant will not, whether on the Participant’s own behalf or on behalf
of or in conjunction with any Person, directly or indirectly:

 

(1)  
solicit or encourage any employee of the Company to leave the employment of the Company; or

 

(2)  
hire any such employee who was employed by the Company as of the date of the Participant’s Termination or who
left the employment of the Company coincident with, or within six months prior to or after, the Participant’s Termination.

 

(iii)           
During the Restricted Period, the Participant will not, whether on the Participant’s own behalf or on behalf
of or in conjunction with any Person, directly or indirectly solicit or assist in soliciting in competition with the Company the
business of any person who was a client or prospective client during the two-year period preceding the Participant’s Termination:

 

(1)  
with whom the Participant had personal contact or dealings on behalf of the Company during such two-year period;
or

 

(2)  
with whom employees reporting to the Participant have had personal contact or dealings on behalf of the Company during
such two-year period.

 

Notwithstanding
anything to the contrary in this Appendix A, the Participant may, directly or indirectly, own, solely as an investment,
securities of any Person which are publicly traded on a national or regional stock exchange or on the over-the-counter market if
the Participant (a) is not a controlling person of, or a member of a group which controls, such Person and (b) does not, directly
or indirectly, own five percent or more of any class of securities of such person.

 

(c)               
During the Restricted Period, the Participant will not, directly or indirectly, solicit or encourage to cease to
work with the Company any consultant then under contract with the Company.

 

(d)              
The Participant will not, other than as required by law or by order of a court or other competent authority, make
or publish, or cause any other person to make or publish, any statement that is disparaging or that reflects negatively upon the
Company, or that is or reasonably would be expected to be damaging to the reputation of the Company. The Company will direct its
executive officers and the members of its Board not to, other than as required by law or by order of a court or other competent
authority, make or publish, or cause any other person to make or publish, any statement that is disparaging or that reflects negatively
upon the Participant, or that is or is reasonably expected to be damaging to the reputation of the Participant.

 

(e)              
It is expressly understood and agreed that although the Participant and the Company consider the restrictions contained
in this Appendix A to be reasonable, if a final judicial determination is made by a court of competent jurisdiction
that the time or territory or any other restriction contained in this Appendix A is an unenforceable restriction
against the Participant, the provisions of this Appendix A shall not be rendered void but shall be deemed amended
to apply as to such maximum time and territory and to such maximum extent as such court may judicially determine or indicate to
be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Appendix
A is unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding shall not affect
the enforceability of any of the other restrictions contained herein.

 

    Appendix A-3

     

    

 

(f)               
The period of time during which the provisions of this Appendix A shall be in effect shall be extended
by the length of time during which the Participant is in breach of the terms hereof as determined by any court of competent jurisdiction
on the Company’s application for injunctive relief.

 

		2.	Specific Performance; Survival.

 

(a)           
The Participant acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach
of any of the provisions of this Appendix A would be inadequate and the Company would suffer irreparable damages
as a result of such breach or threatened breach. In recognition of this fact, the Participant agrees that, in the event of a breach
of any of the provisions of this Appendix A, in addition to any remedies at law, the Company, without posting any
bond, shall be entitled to the fullest extent permitted by law to suspend making any payments or providing any benefit otherwise
required by the Participant’s Participation Notice and Agreement (including this Appendix A). In addition,
the Participant agrees that, in the event of such a breach or threatened breach, the Company shall be entitled to seek equitable
relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable
remedy which may then be available.

 

		(b)	The provisions of this Appendix A shall survive the Participant’s Termination.

 

		3.	Protected Activities.

 

(a)              
Nothing in this Appendix A shall prohibit or impede the Participant from communicating, cooperating,
or filing a complaint on possible violations of U.S. federal, state, or local law or regulation to or with any governmental agency
or regulatory authority (collectively, a “Governmental Entity”), including, but not limited to, the Securities
and Exchange Commission, Financial Industry Regulatory Authority, Equal Employment Opportunity Commission, or National Labor Relations
Board, or from making other disclosures to any Governmental Entity that are protected under the whistleblower provisions of U.S.
federal, state, or local law or regulation; provided, that, in each case, such communications and disclosures are consistent
with applicable law. The Participant shall not be held criminally or civilly liable under any U.S. federal or state trade secret
law for the disclosure of a trade secret that is made (i) in confidence to a U.S. federal, state, or local government official
or to an attorney solely for the purpose of reporting or investigating a suspected violation of law or (ii) in a complaint or other
document filed in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation
by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use
the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal
and does not disclose the trade secret, except pursuant to court order. Moreover, the Participant shall not be required to give
prior notice to (or get prior authorization from) the Company regarding any such communication or disclosure.

 

(b)              
Except as otherwise provided in Paragraph 3(a) of this Appendix A or under applicable law, under
no circumstance is the Participant authorized to disclose any information covered by the Company’s attorney-client privilege
or attorney work product or the Company’s trade secrets without the prior written consent of the Company.

  

    Appendix A-4

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