Document:

Form of Convertible Note & Warrant Purchase Agreement -the other parties thereto

 Exhibit 10.16 

CONVERTIBLE NOTE AND WARRANT PURCHASE AGREEMENT 

This Convertible Note and Warrant Purchase Agreement (the “Agreement”) is made as of
            , 2010, by and between Helix BioMedix, Inc., a Delaware corporation (the “Company”), and the undersigned (the “Investor”). 

1. Purchase and Sale; Closing. 

1.1 Purchase of Note. Subject to the terms and conditions of this Agreement, the Company agrees to sell to the Investor, and the
Investor agrees to purchase from the Company, a Convertible Promissory Note (the “Note”) in substantially the form attached hereto as Exhibit A in the principal amount set forth on the signature page hereto. The Note
will be convertible into equity securities of the Company upon the terms and conditions contained in the form of Note attached hereto as Exhibit A. Shares of equity securities of the Company issued upon conversion of the Note are
referred to herein as the “Note Shares.” 
 1.2 Purchase of Warrant. Subject to the terms and conditions
of this Agreement, the Company agrees to sell to the Investor, and the Investor agrees to purchase from the Company, a Warrant (the “Warrant”) in substantially the form attached hereto as Exhibit B. The Warrant will be
exercisable for shares of the Company’s Common Stock upon the terms and conditions contained in the form of Warrant attached hereto as Exhibit B. Shares of the Company’s Common Stock issued upon exercise of the Warrant are
referred to herein as the “Warrant Shares.” The Note, the Warrant, the Note Shares and the Warrant Shares are sometimes collectively referred to herein as the “Securities.” 

1.3 Closing. The closing of the sale and issuance of the Note and Warrant shall be held at such time and place upon which the
Company and the Investor shall agree (hereinafter referred to as the “Closing”). The date of the Closing is referred to herein as the “Closing Date.” 

2. Representations of the Company. 

The Company represents and warrants to the Investor as follows: 

2.1 Organization and Standing. The Company is a corporation duly organized and existing under, and by virtue of, the laws of the
State of Delaware and is in good standing under such laws. 
 2.2 Corporate Power. The Company will have at the Closing
all requisite legal and corporate power and authority to execute and deliver this Agreement, to sell and issue the Securities and to carry out and perform its obligations under the terms of this Agreement. 

2.3 Authorization. All corporate action on the part of the Company necessary for the authorization, execution, delivery and
performance of this Agreement by the Company, the authorization, sale, issuance and delivery of the Note and the Warrant and the performance of all of the Company’s obligations hereunder and thereunder has been taken or will be taken prior to
the Closing. This Agreement, the Note and Warrant, when executed and delivered by the Company, shall constitute valid and binding obligations of the Company, enforceable in accordance with their respective terms, subject to laws of general
application relating to bankruptcy, insolvency and the relief of debtors and rules of law governing specific performance, injunctive relief or other equitable remedies. The Note Shares, when issued in compliance with the provisions of the Note, will
be validly issued, fully paid and nonassessable, and will be free of any liens or encumbrances, assuming that the Investor takes the Note Shares with no notice thereof, other than any liens or encumbrances created by or imposed upon the Investor;
provided, however, that the Note Shares will be 

 
subject to restrictions on transfer under state and/or federal securities laws. The Warrant Shares, when issued in compliance with the provisions of the Warrant, will be validly issued, fully
paid and nonassessable, and will be free of any liens or encumbrances, assuming that the Investor takes the Warrant Shares with no notice thereof, other than any liens or encumbrances created by or imposed upon the Investor; provided, however, that
the Warrant Shares will be subject to restrictions on transfer under state and/or federal securities laws. 
 2.4 No
Finder’s Fees. No person is entitled, directly or indirectly, to compensation from the Company by reason of any contract or understanding or contact with the Company as a finder or broker in connection with this sale and purchase of the
Note and Warrant contemplated by this Agreement. The Company agrees to indemnify and hold the Investor harmless against and respect of any claim of brokerage or other commissions or similar fees relative to this Agreement or the transactions
contemplated hereby which arises as a result of a contract or understanding made by the Company with any such broker or finder in connection with this sale and purchase of the Note and Warrant contemplated by this Agreement. 

3. Representations of Investors. The Investor hereby represents and warrants to the Company with respect to its purchase of the
Note and Warrant as follows: 
 3.1 Investment. The Investor understands that the investment in the Securities is a
speculative investment and represents that it is aware of the business affairs and financial condition of the Company and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Note and
Warrant, and that it is purchasing the Note and Warrant for investment for its own account only and not with a view to, or for resale in connection with, any “distribution” within the meaning of the Securities Act of 1933, as amended (the
“Securities Act”) or applicable state securities laws. The Investor further represents that it understands that the Securities have not been registered under the Securities Act or applicable state securities laws by reason of
specific exemptions therefrom, which exemptions depend upon, among other things, the bona fide nature of the Investor’s investment intent as expressed herein. The Investor acknowledges and understands that the Securities must be held
indefinitely unless subsequently registered under the Securities Act and qualified under applicable state securities laws or unless exemptions from such registration and qualification requirements are available and that the Company is under no
obligation to register or qualify the Securities. 
 3.2 Accredited Investor. The Investor is an accredited investor as
defined in Rule 501(a) of Regulation D promulgated under the Securities Act. 
 3.3 Access to Data. The Investor
acknowledges that it has received and reviewed this Agreement and exhibits hereto. The Investor has had an opportunity to discuss the Company’s business, management and financial affairs with its officers and directors. The Investor understands
that such discussions as well as any written information issued by the Company were intended to describe the aspects of the Company’s business and prospects which it believes to be material but were not necessarily a thorough or exhaustive
description. 
 3.4 No Finder’s Fees. No person is entitled, directly or indirectly, to compensation from the
Investor by reason of any contract or understanding or contact with the Investor as a finder or broker in connection with the sale and purchase of the Note and Warrant contemplated by this Agreement. Investor agrees to indemnify and hold the Company
harmless against and in respect of any claim for brokerage or other commissions or similar fees relative to this Agreement or the transactions contemplated hereby which arises as a result of a contract or understanding made by the Investor with any
such broker or finder in connection with the sale and purchase of the Note and Warrant contemplated by this Agreement. 
  

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 3.5 Legends. The Investor understands that the Securities, and any securities issued
in respect thereof or exchange therefor, may bear one or all of the following legends: 
 (a) “THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT
AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.” 

(b) Any legend required by the blue sky laws of any state to the extent such laws are applicable to the Securities represented by the
certificate so legended. 
 4. Condition to Investor’s Obligations at Closing. The Investor’s obligation to
purchase the Note and Warrant at the Closing is subject to the fulfillment on or prior to the Closing Date of the following condition: 

4.1 Representations and Warranties Correct. The representations and warranties made by the Company in Section 2 hereof shall
be true and correct when made and shall be true and correct on the Closing Date. 
 5. Conditions to the Company’s
Obligations at Closing. The Company’s obligation to sell and issue the Note and Warrant at the Closing is subject to the fulfillment of the following conditions: 

5.1 Representations and Warranties Correct. The representations and warranties made by the Investor in Section 3 hereof shall
be true and correct when made and shall be true and correct on the Closing Date. 
 5.2 Qualifications. All
authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United States or of any state that are required in connection with the lawful issuance and sale of the Securities pursuant to this Agreement shall
be obtained and effective as of the Closing. 
 5.3 Board Approval. The Company’s Board of Directors shall have
authorized the sale and issuance of the Securities. 
 6. Miscellaneous. 

6.1 Governing Law; Venue. This Agreement, the Note and the Warrant shall in all respects be governed by and construed and enforced
in accordance with the laws of the State of Washington, as such laws apply to contracts entered into and wholly to be performed within such state. The parties expressly stipulate that any litigation under this Agreement shall be brought in the state
courts of King County, Washington or in the United States District Court for the Western District of Washington. The parties agree to submit to the exclusive jurisdiction and venue of those courts. 

6.2 Successors and Assigns. Except as otherwise provided herein, the provisions hereof shall inure to the benefit of, and be
binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto, provided, however, that the rights of the Investor to purchase the Note and Warrant shall not be assignable without the consent of the Company and
provided further that the Company may not assign its rights hereunder. 
  

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 6.3 Entire Agreement; Amendment. This Agreement, the Note, the Warrant and the other
documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subject matter hereof and thereof, and no party shall be liable or bound to any other party in any manner by any
warranties, representations or covenants except as specifically set forth herein or therein. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated other than by a written
instrument signed by the party against whom enforcement of any such amendment, waiver, discharge or termination is sought. 

6.4 Notices, etc. All notices and other communications under this Agreement shall be in writing and shall be delivered in person,
via facsimile machine, sent by documented overnight delivery service, or mailed by registered or certified mail, return receipt requested, postage prepaid, addressed (a) if to the Investor, at the address of the Investor set forth on the
signature page of this Agreement, or (b) if to the Company, to the attention of its President at its principal offices at 22118 20th Avenue SE, Suite 204, Bothell, WA 98021. Unless otherwise specified in this Agreement, all such notices and
other written communications shall be effective (and considered delivered and received for the purposes of this Agreement) (i) if delivered, upon delivery, (ii) if by facsimile machine during normal business hours upon transmission with
confirmation of receipt by the receiving party’s facsimile terminal and if not sent during normal business hours, then on the next day, (iii) if sent by documented overnight delivery service, on the date following the date on which such
notice is delivered to such overnight delivery service for mailing, or (iv) if mailed via first-class regular mail, three (3) day after depositing in the U.S. Mail. 

6.5 Expenses; Attorneys Fees. Each of the Company and the Investor shall each bear its own expenses incurred on its behalf with
respect to this Agreement and the transactions contemplated hereby. Notwithstanding the foregoing, if any action at law or in equity (including arbitration) is necessary to enforce or interpret the terms of this Agreement, the Note or the Warrant,
the prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 

6.6 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be enforceable against the
party or parties actually executing such counterparts, and all of which together shall constitute one instrument. 
 6.7
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not considered in construing or interpreting this Agreement. 

[Remainder of Page Intentionally Left Blank] 
  

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 The foregoing Agreement is hereby executed as of the date first above written. 

 

			
	COMPANY:
	
	HELIX BIOMEDIX, INC.

			
		
	By:	 	  

		 	R. Stephen Beatty, President and
		 	Chief Executive Officer

			
		
	  
 INVESTOR :

 
  
	 	
	  

	Print name
		
	Investment Amount: $        	 	  

			
		
	By:	 	  

			
	Signature

			
		
	Its:	 	  

			
	Title

			
		
	Address:	 	  

			
	
	  

		
	Facsimile:	 	  

			
		
	Soc. Sec. No. or Tax ID:	 	  

[Signature Page to Convertible Note and Warrant Purchase Agreement] 

 

 -5- 

 THIS NOTE AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES
UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR UNLESS (i) SOLD PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS AND (ii) AT THE OPTION OF THE COMPANY, AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED HAS BEEN DELIVERED TO THE COMPANY. 
 HELIX BIOMEDIX, INC.

 CONVERTIBLE PROMISSORY NOTE 

March 5, 2010 
  

			
	$[        ]	  	Bothell, Washington

FOR VALUE RECEIVED, Helix BioMedix, Inc., a Delaware corporation (“Company”), promises to pay to
[        ] (“Holder”), or his registered assigns, the principal sum of [        ] Dollars ($[        ]), or such
lesser amount as shall then equal the outstanding principal amount hereof, together with interest from the date of this Note on the unpaid principal balance at a rate equal to eight percent (8%) per annum, computed on the basis of
the actual number of days elapsed. All unpaid principal, together with any then unpaid and accrued interest and other amounts payable hereunder, shall be due and payable on the earlier of (i) July 1, 2013 (the
“Maturity Date”) or (ii) when such amounts are declared due and payable by the Holder or made automatically due and payable, in each case upon or after the occurrence of an Event of Default (as defined below). This Note is
issued pursuant to the Convertible Note Purchase Agreement of even date herewith (as amended, modified or supplemented, the “Purchase Agreement”) between Company and the Investor (as defined in the Purchase Agreement) and is
one of several convertible promissory notes issued on or about the date hereof (the “Notes”). 
 The following
is a statement of the rights of Holder and the conditions to which this Note is subject, and to which the Holder hereof, by the acceptance of this Note, agrees: 

1. Definitions. As used in this Note, the following capitalized terms have the following meanings: 

(a) “Company” includes the corporation initially executing this Note and any Person which shall succeed to or assume the
obligations of Company under this Note. 
 (b) “Holder” shall mean the Person specified in the introductory
paragraph of this Note or any Person who shall at the time be the registered holder of this Note. 
 (c)
“Person” shall mean and include an individual, a partnership, a corporation (including a business trust), a joint stock company, a limited liability company, an unincorporated association, a joint venture or other entity or a
governmental authority. 
 2. Interest. Accrued interest on this Note shall be payable at such time as the
outstanding principal amount hereof shall be paid in full. 

 3. Events of Default. The occurrence of any of the following shall constitute
an “Event of Default” under this Note: 
 (a) Failure to Pay. Company shall fail in any material respect
to pay any principal payment, any interest or other payment required under the terms of this Note on the date due and such payment shall not have been made within fifteen (15) days of Company’s receipt of Holder’s written notice to
Company of such failure to pay; or 
 (b) Breaches of Covenants. Company shall fail in any material respect to observe or
perform any covenant, obligation, condition or agreement contained in this Note (other than those covenants specified in Section 3(a) hereof) and such failure shall continue for thirty (30) days after Company’s receipt of
Holder’s written notice to Company thereof; or 
 (c) Representations and Warranties. Any representation or warranty
made by Company to Holder in this Note shall be untrue in any material respect when made; or 
 (d) Voluntary Bankruptcy or
Insolvency Proceedings. Company shall (i) apply for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, (ii) admit in writing its inability to pay its
debts generally as they mature, (iii) make a general assignment for the benefit of its or any of its creditors, (iv) be dissolved or liquidated in full or in part, (v) commence a voluntary case or other proceeding seeking liquidation,
reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any
official in an involuntary case or other proceeding commenced against it, or (vi) take any action for the purpose of effecting any of the foregoing; or 

(e) Involuntary Bankruptcy or Insolvency Proceedings. Proceedings for the appointment of a receiver, trustee, liquidator or
custodian of Company or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to Company or the debts thereof under any bankruptcy,
insolvency or other similar law now or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within sixty (60) days of commencement; or 

(f) Cross Default. Upon an “Event of Default” under those certain convertible promissory notes issued by the Company on
February 14, 2008, February 10, 2009 and March 5, 2009 (as defined therein). 
 4. Rights of Holder
upon Default. Upon the occurrence or existence of any Event of Default (other than an Event of Default referred to in Sections 3(d) and 3(e) hereof) and at any time thereafter during the continuance of such Event of Default, Holder may,
by written notice to Company, declare all outstanding obligations payable by Company hereunder to be immediately due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything
contained herein to the contrary notwithstanding. Upon the occurrence or existence of any Event of Default described in Sections 3(d) and 3(e) hereof, immediately and without notice, all outstanding obligations payable by Company hereunder
shall automatically become immediately due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything contained herein to the contrary notwithstanding. In addition to the
foregoing remedies, upon the occurrence or existence of any Event of Default, Holder may exercise any other right, power or remedy permitted to it by law, either by suit in equity or by action at law, or both. 

 

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 5. Conversion. 

(a) Automatic Conversion upon Equity Financing. Upon the closing (or first in a series of closings) of the next equity financing in
which Company sells shares of its equity securities (the “Equity Securities”) for an aggregate consideration of at least $7,500,000 (including the aggregate principal and accrued interest due on the Notes) (the “Equity
Financing”), the principal and accrued interest due on this Note shall automatically be converted into shares of the Equity Securities as set forth in Section 5(d) below. The conversion shall be deemed to have occurred as of the date
of such closing or the date of the first closing in a series of closings. As a condition precedent (which may be waived by the Company) to conversion of this Note as provided for in this Section 5(a), the Holder will be required to execute the
definitive Stock Purchase Agreement and such other agreements prepared in connection with the Equity Financing. The number of shares of Equity Securities into which this Note shall be automatically converted shall be determined by dividing the
principal and accrued interest due on this Note as of the date of conversion by an amount equal to the lesser of (i) the per share price of the Equity Securities issued and sold in the Equity Financing and (ii) $0.80. 

(b) Automatic Conversion upon Corporate Transaction. Upon the closing of a sale of substantially all of the Company’s assets
or a merger or consolidation of the Company in which the Company’s stockholders will hold, in the aggregate, less than 50% of the voting power of the combined entity, the principal and accrued interest due on this Note shall automatically be
converted into shares of the Company’s Common Stock as set forth in Section 5(d) below. The conversion shall be deemed to have occurred as of the date of such closing. The number of shares of Common Stock into which this Note shall be
automatically converted shall be determined by dividing the principal and accrued interest due on this Note as of the date of conversion by an amount equal to the lesser of (i) the per share price attributed to the Company’s Common Stock
in connection with such transaction and (ii) $0.80. 
 (c) Voluntary Conversion at Maturity Date. At and as of the
Maturity Date, to the extent this Note is still outstanding and has not otherwise been converted or repaid in full, the Holder will have the option, in its sole discretion, to convert this Note into shares of the Company’s Common Stock. The
number of shares of Common Stock into which this Note may be voluntarily converted shall be determined by dividing the principal and accrued interest due on this Note as of the date of conversion by $0.80. 

(d) Issuance of Securities on Conversion. As soon as practicable after conversion of this Note, Company, at its expense, will
cause to be issued in the name of and delivered to the Holder a certificate or certificates representing the number of fully paid and nonassessable shares of the Equity Securities or Common Stock (as applicable) to which Holder shall be entitled
upon such conversion. No fractional shares will be issued upon conversion of this Note. 
 (e) Termination of Rights. All
rights with respect to this Note shall terminate upon conversion hereof in accordance with this Section 5, whether or not this Note has been surrendered. Notwithstanding the foregoing, the Holder agrees to surrender this Note to Company for
cancellation as soon as is practicable following conversion of this Note. 
 6. Successors and Assigns. Subject to
the restrictions on transfer described in Section 8 below, the rights and obligations of Company and Holder shall be binding upon and benefit the successors, assigns, heirs, administrators and transferees of the parties. 

7. Waiver and Amendment. Any provision of this Note may be amended, waived or modified upon the written consent of Company
and Holder. 
  

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 8. Transfer of this Note or Securities Issuable Upon Conversion Hereof.
With respect to any contemplated offer, sale or other disposition of this Note or securities into which such Note may be converted, the Holder will first give written notice to Company prior thereto, describing briefly the manner thereof,
together with a written opinion of the Holder’s counsel to the effect that such offer, sale or other disposition may be effected without registration or qualification under any federal or state law then in effect. Promptly upon receiving such
written notice and reasonably satisfactory opinion, if so requested, Company, as promptly as practicable, shall notify the Holder that the Holder may sell or otherwise dispose of this Note or such securities, all in accordance with the terms of the
notice delivered to Company. If a determination has been made pursuant to this Section 8 that the opinion of counsel for the Holder is not reasonably satisfactory to Company, then Company shall so notify the Holder promptly after such
determination has been made. The Note thus transferred and each certificate representing the securities thus transferred shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with the Securities Act
of 1933, as amended (the “Act”), unless in the opinion of counsel for Company such legend is not required in order to ensure compliance with the Act. Company may issue stop transfer instructions to its transfer agent in connection
with such restrictions. 
 9. Notices. All notices and other communications under this Note shall be in writing
and shall be delivered in person, via facsimile machine, sent by documented overnight delivery service, or mailed by registered or certified mail, return receipt requested, postage prepaid, addressed (a) if to the Holder, at the address of the
Holder set forth in the Purchase Agreement, or (b) if to the Company, to the attention of its President at its principal offices at 22118 20th Avenue SE, Suite 204, Bothell, WA 98021. Unless otherwise specified in this Note, all such notices
and other written communications shall be effective (and considered delivered and received for the purposes of this Note) (i) if delivered, upon delivery, (ii) if by facsimile machine during normal business hours upon transmission with
confirmation of receipt by the receiving party’s facsimile terminal and if not sent during normal business hours, then on the next day, (iii) if sent by documented overnight delivery service, on the date following the date on which such
notice is delivered to such overnight delivery service for mailing, or (iv) if mailed via first-class regular mail, three (3) day after depositing in the U.S. Mail. 

10. No Stockholder Rights. Nothing contained in this Note shall be construed as conferring upon the Holder or any
other person the right to vote or to consent or to receive notice as a stockholder in respect of meetings of stockholder for the election of directors of Company or any other matters or any rights whatsoever as a stockholder of Company; and no
dividends or interest shall be payable or accrued in respect of this Note or the interest represented hereby or the equity securities obtainable hereunder until, and only to the extent that, this Note shall have been converted. 

11. Payment; Prepayment. 

(a) Payment shall be made in lawful tender of the United States. 

(b) Company shall have the right to prepay at any time, without penalty, in whole or in part, the unpaid principal and interest due on
this Note. 
 12. Governing Law; Venue. This Note and all actions arising out of or in connection with this Note
shall be governed by and construed in accordance with the laws of the State of Washington, without regard to the conflicts of law provisions of the State of Washington or of any other state. The parties expressly stipulate that any litigation under
this Agreement shall be brought in the state courts of King County, Washington or in the United States District Court for the Western District of Washington. The parties agree to submit to the exclusive jurisdiction and venue of those courts.

  

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 ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR FROM
ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW. 
 IN WITNESS WHEREOF, Company has caused
this Note to be issued as of the date first written above. 
  

			
	HELIX BIOMEDIX, INC.,
	a Delaware corporation
		
	By:	 	  

		 	R. Stephen Beatty, President and
		 	Chief Executive Officer

 Acknowledged and Agreed:

 HOLDER: 
  

			
	
	  

	[                         
   ]

			
		
	 Address:
	 	 

			
	
	  

			
		
	 Facsimile:
	 	
 

[Signature Page to Convertible Promissory Note] 
  

 -5- 

 THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE
SECURITIES UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR UNLESS (i) SOLD PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS AND (ii) AT THE OPTION OF THE COMPANY, AN OPINION OF COUNSEL
REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED HAS BEEN DELIVERED TO THE COMPANY. 
  

			
	Holder(s):
[                            ]	  	Warrant Number: W-[        ]
		  	No. of Shares For Which this Warrant is Initially Exercisable: [        ]
	Issue Date: March 5, 2010	  	Termination Date: March 5, 2015

WARRANT FOR THE 

PURCHASE OF SHARES OF COMMON STOCK 

OF 

HELIX BIOMEDIX, INC. 

THIS CERTIFIES THAT, for valuable consideration, the undersigned, together with her successors and permitted assigns (the
“Holder”) is entitled to purchase, subject to the terms set forth below, up to [    ] shares of duly authorized, validly issued, fully paid and nonassessable shares of common stock, $0.001 par value per share (the
“Common Stock”), of Helix BioMedix, Inc., a Delaware corporation (the “Company”). 
 1. Exercise of
Warrant. The terms and conditions upon which this Warrant may be exercised, and the Common Stock covered hereby (the “Warrant Stock”) may be purchased, are as follows: 

(a) Term. Subject to the terms hereof, the purchase right represented by this Warrant may be exercised in whole or in part, but
not as to a fractional share of Warrant Stock, at any time and from time to time until March 5, 2015. 
 (b) Number of
Shares. The number of shares of Common Stock for which this Warrant is initially exercisable is the amount set forth above the Holder’s signature and on page one of this Warrant, which number is subject to adjustment pursuant to
Section 2 of this Warrant. 
 (c) Purchase Price. The per share purchase price for the shares of Common Stock to be
issued upon exercise of this Warrant shall be equal to $0.80 per share (the “Warrant Price”). 
 (d) Method of
Exercise. The exercise of the purchase rights evidenced by this Warrant shall be effected by (a) the surrender of the Warrant, together with a duly executed copy of the form of a subscription attached hereto, to the Company at its principal
offices at 22118 20th Avenue SE, Suite 204, Bothell, WA 98021 (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company) and (b) the
delivery of the purchase price in an amount equal to the number of shares for which the purchase rights hereunder are being exercised multiplied by the Warrant Price, which amount may be paid by cashier’s check payable to the Company’s
order or by wire transfer to the Company’s account. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business 

 

 1 

 
on the day on which this Warrant shall have been surrendered to the Company together with the purchase price as provided herein or at such later date as may be specified in the executed form of
subscription, and at such time the person or persons in whose name or names any certificate or certificates for shares of Common Stock shall be issuable upon such exercise as provided herein shall be deemed to have become the holder or holders of
record thereof. 
 (e) Exercise by Exchange. In addition to and without limiting the rights of the Holder under the terms
hereof, at the Holder’s option, and if approved by the Company, this Warrant may be exercised during the term specified under Section 1(a) by being exchanged in whole or in part prior to its expiration for a number of shares of Common
Stock having an aggregate fair market value on the date of such exercise equal to the difference between (x) the fair market value of the number of shares of Common Stock subject to this Warrant designated by the Holder hereof on the date of
the exercise and (y) the aggregate Warrant Price for such shares in effect at such times. The following formula illustrates how many shares would then be issued upon exercise pursuant to this Section 1(e): 

 

									
	Let:	  	FMV	  	=	  	Fair market value per share of Common Stock at date of exercise.
				
		  	WP	  	=	  	Warrant Price at date of exercise.
				
		  	N	  	=	  	Number of shares desired to be exercised.
				
		  	X	  	=	  	Number of shares issued upon exercise.
				
	Therefore:	  	X	  	=	  	 (FMV)(N)-(WP)(N)

              FMV

Upon any such exercise, the number of shares of Common Stock purchasable upon exercise of this Warrant shall be reduced by such
designated number of shares of Common Stock and, if a balance of purchasable shares of Common Stock remains after such exercise, the Company shall execute and deliver to the Holder hereof a new warrant for such balance of shares of Common Stock.

 No payment to the Company of any cash or other consideration shall be required from the Holder of this Warrant in connection
with any exercise of this Warrant by exchange pursuant to this Section 1(e). Such exchange shall be effective upon the date of receipt by the Company of the original Warrant surrendered for cancellation and a written request from the Holder
hereof that the exchange pursuant to this section be made, or at such later date as may be specified in such request. 
 For the
purposes of this Warrant, the “fair market value” of any number of shares of Common Stock shall mean: 
 (i) as long
as the Common Stock is traded on the Over-The-Counter Bulletin Board (or equivalent recognized source of quotations), an amount equal to the average of the high and low reported trading prices of one share of such securities for the three
(3) trading days prior to the surrender of this Warrant for exchange in accordance with the terms hereof; or 
 (ii) in
all other cases, the fair value as determined in good faith by the Board of Directors of the Company and reasonably agreed to by the Holder. 

(f) Issuance of Shares. As soon as reasonably practicable after each exercise of this Warrant, in whole or in part, the Company at
its expense will cause to be issued in the name of and delivered to the Holder hereof or as such Holder (upon payment by such Holder of any applicable transfer taxes) may direct, 

 

 2 

 (i) a certificate or certificates for the number of duly authorized validly issued, fully
paid and nonassessable shares of Common Stock to which such Holder shall be entitled upon such exercise, and 
 (ii) in case
such exercise is in part only, a new warrant or warrants of like tenor, calling in the aggregate on the face or faces thereof for the number of shares of Common Stock (without giving effect to any adjustment thereof) to the number of such shares
called for on the face of this Warrant minus the number of such shares designated by the Holder upon such exercise as provided herein. 

2. Certain Adjustments. 

(a) Mergers, Consolidations or Sale of Assets. If at any time after the date hereof while this Warrant remains outstanding and
unexpired there shall be a capital reorganization (other than a combination or subdivision of Warrant Stock otherwise provided for herein), or a merger or consolidation of the Company with or into another corporation, or the sale of the
Company’s properties and assets as, or substantially as, an entirety to any other person, then, as a part of such reorganization, merger, consolidation or sale, lawful provision shall be made so that the Holder shall thereafter be entitled to
receive upon exercise of this Warrant, during the period specified in this Warrant and upon payment of the purchase price, the number of shares of stock or other securities, cash or property of the Company or the successor corporation resulting from
such reorganization, merger, consolidation or sale, to which a Holder of the Common Stock deliverable upon exercise of this Warrant would have been entitled under the provisions of the agreement in such reorganization, merger, consolidation or sale
if this Warrant had been exercised immediately before that reorganization, merger, consolidation or sale. In any such case, appropriate adjustment (as determined reasonably and in good faith by the Company’s Board of Directors) shall be made in
the application of the provisions of this Warrant with respect to the rights and interests of the Holder after the reorganization, merger, consolidation or sale to the end that the provisions of this Warrant (including adjustment of the Warrant
Price then in effect and the number of shares of Warrant Stock) shall be applicable after that event, as near as reasonably may be, in relation to any shares or other property deliverable after that event upon exercise of this Warrant. 

(b) Splits and Subdivisions; Dividends. In the event the Company should at any time or from time to time while this Warrant
remains outstanding and unexpired effect or fix a record date for the effectuation of a split or subdivision of the outstanding shares of its Common Stock or the determination of the holders of Common Stock entitled to receive a dividend or other
distribution payable in additional shares of Common Stock or other securities or warrants, options or other rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional shares of Common Stock (hereinafter
referred to as the “Common Stock Equivalents”) without payment of any consideration by such holder for the additional shares of Common Stock or Common Stock Equivalents (including the additional shares of Common Stock issuable upon
conversion or exercise thereof), then, as of such record date (or the date of distribution, split or subdivision if no record date is fixed), the per share Warrant Price shall be appropriately increased in proportion to such increase (or potential
increase) of outstanding shares. 
 (c) Combination of Shares. If the number of shares of Common Stock outstanding at any
time after the date hereof is decreased by a combination of the outstanding shares of Common Stock, the per share purchase price shall be appropriately increased and the number of shares of Warrant Stock shall be appropriately decreased in
proportion to such decrease in outstanding shares. 
  

 3 

 (d) Certificate as to Adjustments. In the case of each adjustment or readjustment of
the Warrant Price pursuant to this Section 2, the Company at its expense will promptly compute such adjustment or readjustment in accordance with the terms hereof and cause a certificate, signed by the Company’s principal financial
officer, setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based to be delivered to the Holder of this Warrant. The Company will furnish or cause to be furnished to such
Holder a certificate setting forth: 
 (i) Such adjustments and readjustments; 

(ii) The purchase price at the time in effect and how it was calculated; and 

(iii) The number of shares of Warrant Stock and the amount, if any, of other property at the time receivable upon the exercise of the
Warrant. 
 (e) Notices of Record Date, etc. In the event of: 

(i) Any taking by the Company of a record of the holders of any class of securities of the Company for the purpose of determining the
holders thereof who are entitled to receive any dividend (other than a cash dividend payable at the same rate as that of the last such cash dividend theretofore paid) or other distribution, or any right to subscribe for, purchase or otherwise
acquire any shares of stock of any class or any other securities or property, or to receive any other right; or 
 (ii) Any
capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company or any transfer of all or substantially all of assets of the Company to any other person or any consolidation or merger involving the
Company; or 
 (iii) Any voluntary or involuntary dissolution, liquidation or winding-up of the Company; the Company will mail
to the Holder of this Warrant at least ten (10) business days prior to the earliest date specified therein, a notice specifying: 

(1) The date on which any such record is to be taken for the purpose of such dividend, distribution or right, and the amount and
character of such dividend, distribution or right; and 
 (2) The date on which any such reorganization, reclassification,
transfer, consolidation, merger, dissolution, liquidation or winding-up is expected to become effective and the record date for determining stockholders entitled to vote thereon and the time. 

3. Fractional Shares. No fractional shares shall be issued in connection with any exercise of this Warrant. In lieu of the
issuance of such fractional share, the Company shall make a cash payment equal to the then fair market value of such fractional share as determined in good faith by the Company’s Board of Directors. 

4. No Privilege of Stock Ownership. Prior to the exercise of this Warrant, the Holder shall not be entitled, by virtue of holding
this Warrant, to any rights of a stockholder of the Company, including (without limitation) the right to vote, receive dividends or other distributions, exercise preemptive rights or be notified of stockholder meetings, and such Holder shall not be
entitled to any notice or other communication concerning the business or affairs of the Company. Nothing in this Section 4, however, shall limit the right of the Holder to be provided the notices described in Section 2 hereof, or to
participate in distributions described in Section 2 hereof if the Holder exercises this Warrant. 
  

 4 

 5. Limitation of Liability. Except as otherwise provided herein, in the absence of
affirmative action by the Holder hereof to purchase the Warrant Stock, no mere enumeration herein of the rights or privileges of the Holder hereof shall give rise to any obligation of such Holder to purchase any securities or any liability of such
Holder for the purchase price or as a stockholder of the Company, whether such obligation or liability is asserted by the Company or by creditors of the Company. 

6. Representations and Warranties of the Holder. The Holder represents and warrants to the Company as follows: 

(a) Purchase Entirely for Own Account. This Warrant is issued to the Holder in reliance upon such Holder’s representation to
the Company, which by the Holder’s execution of this Warrant the Holder hereby confirms, that the Warrant and Warrant Stock are being acquired for investment for the Holder’s own account, not as a nominee or agent, and not with a view to
the resale or distribution of any part thereof in violation of the federal or state securities laws. 
 (b) Investment
Experience. The Holder represents that it can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Warrant
and the Warrant Stock. If an entity, the Holder also represents it has not been organized solely for the purpose of acquiring the Warrant or the Warrant Stock. 

(c) Restricted Securities. The Holder understands that the Warrant being issued hereunder and the Warrant Stock to be purchased
hereunder are characterized as “restricted securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable
regulations such securities may be resold without registration under the Securities Act of 1933, as amended (the “Securities Act”), only in certain limited circumstances. In this connection, the Holder represents that it is familiar with
Securities and Exchange Commission Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act. 

(d) Legends. It is understood that the certificates evidencing the Warrant Stock may bear a legend substantially in the following
form: 
 “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
ANY STATE SECURITIES LAWS (COLLECTIVELY, THE “SECURITIES LAWS”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES
UNDER THE SECURITIES LAWS (i) UNLESS SOLD PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES LAWS AND (ii) THE COMPANY, IF IT SO REQUESTS, HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED.” 
 In addition, the certificates evidencing the Warrant Stock may bear any legend
required by the Company’s charter documents or the laws of the State of Washington and any other state in which the securities will be issued. 
  

 5 

 7. Transfers and Exchanges. 

(a) The Holder may not sell, hypothecate, pledge or otherwise dispose of any interest in the Warrant or the Warrant Stock unless such
transfer would not violate any provision of this Section 7. 
 (b) Subject to the conditions of this Section 7, upon
delivery to the Company of a duly completed and executed Assignment in substantially the form attached hereto, a new warrant shall be issued to the transferee therein named. All new warrants issued in connection with transfers or exchanges shall not
require the signature of the new Holder hereof and shall be identical in form and provision to this Warrant except as to the number of shares. 

(c) It shall be a condition to any transfer of this Warrant that the transferee shall be an accredited investor, within the meaning of
the Securities Act, and that the Company shall have received, at the time of such transfer or exercise (i) a representation letter, or at the option of the Company, a legal opinion, in form and substance reasonably satisfactory to the Company
and its counsel, reciting the pertinent circumstances surrounding the proposed transfer and stating that such transfer is exempt from the prospectus and registration requirements of the Securities Act and applicable state securities laws and
(ii) a statement in writing from, and signed by, any proposed transferees containing the same representations and warranties as set forth in Section 6 hereof and agreeing to be bound by the provisions of this Section 7, such statement
to be in the form of Assignment attached hereto. Notwithstanding the foregoing, as long as the transfer of this Warrant is in compliance with applicable securities laws and there are no significant issues of fact (such as whether or not the Holder
is an “affiliate,” as such term is defined in Rule 144 of the Securities Act) or unusual questions of law, the requirement of a representation letter or legal opinion shall not apply to (a) the transfer of this Warrant or any part
thereof to a partnership of which the Holder is a partner or to the beneficial owners or affiliates of such partnership, (b) the transfer of this Warrant or any part thereof to beneficial owners, employees or affiliates of the Holder,
(c) bona fide gifts to a member of a Holder’s immediate family or trustee for a member of a Holder’s immediate family, (d) transfers by will upon the death of a Holder, or (e) transfers pursuant to a divorce or dissolution
of the marriage of a Holder. 
 (d) Ownership of Warrants. The Company may treat the person in whose name any Warrant is
registered on the register kept by the Company or its transfer agent as the owner and Holder thereof for all purposes, notwithstanding any notice to the contrary. A Warrant, if properly assigned, may be exercised by a new Holder without a new
Warrant first having been issued. Nothing in this Section 7(d) shall relieve the Holder of his obligations under Section 7(c) hereof. 

8. Successors and Assigns. The terms and provisions of this Warrant shall be binding upon the Company and the Holder and their
respective successors and assigns, subject at all times to the restrictions set forth herein. 
 9. Loss, Theft, Destruction
or Mutilation of Warrant. Upon receipt by the Company of evidence reasonably satisfactory to it and its counsel of the loss, theft, destruction or mutilation of this Warrant, and in case of loss, theft or destruction, of indemnity or security
reasonably satisfactory to the Company, and upon reimbursement to the Company of all reasonable expenses incidental thereto, and upon surrender and cancellation of this Warrant, if mutilated, the Company will make and deliver a new warrant of like
tenor and dated as of such cancellation, in lieu of this Warrant. 
 10. Saturdays, Sundays, Holiday, etc. If the last or
appointed day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday or Sunday or shall be a legal holiday in the State of Washington, then such action may be taken or such right may be exercised
on the next succeeding day not a Saturday, Sunday or legal holiday. 
  

 6 

 11. Amendments and Waivers. Any term of this Warrant may be amended and the
observance of any term of this Warrant may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company and the Holder. Any such amendment or waiver shall be binding
on the parties. 
 12. Governing Law; Venue. The terms and conditions of this Warrant shall be governed by and construed
in accordance with the law of the State of Washington, without regard to conflict of law provisions. The parties expressly stipulate that any litigation under this Warrant shall be brought in the state courts of King County, Washington or in the
United States District Court for the Western District of Washington. The parties agree to submit to the exclusive jurisdiction and venue of those courts. 

13. Notices. All notices and other communications under this Warrant shall be in writing and shall be delivered in person, via
facsimile machine, sent by documented overnight delivery service, or mailed by registered or certified mail, return receipt requested, postage prepaid, addressed (a) if to the Holder, at the registered address of such Holder as set forth in the
register kept at the principal office of the Company, or (b) if to the Company, to the attention of its President at its principal offices at 22118 20th Avenue SE, Suite 204, Bothell, WA 98021, provided that the exercise of any Warrant shall be
effected in the manner provided in Section 1. Unless otherwise specified in this Warrant, all such notices and other written communications shall be effective (and considered delivered and received for the purposes of this Agreement)
(i) if delivered, upon delivery, (ii) if by facsimile machine during normal business hours upon transmission with confirmation of receipt by the receiving party’s facsimile terminal and if not sent during normal business hours, then
on the next day, (iii) if sent by documented overnight delivery service, on the date following the date on which such notice is delivered to such overnight delivery service for mailing, or (iv) if mailed via first-class regular mail, three
(3) day after depositing in the U.S. Mail. 
 [Remainder of Page Intentionally Left Blank] 

 

 7 

 IN WITNESS WHEREOF, the parties have executed this Warrant effective as of the date first
written above. 
  

			
	THE COMPANY:
	
	 HELIX BIOMEDIX, INC.,

a Delaware corporation

		
	By:	 	  

	Name:	 	R. Stephen Beatty,
		 	President and Chief Executive Officer

			
		
	Address:	 	22118 20th Avenue SE, Suite 204
		 	Bothell, WA 98021
		
	Telephone:	 	(425) 402-8400
		
	Facsimile:	 	(425) 806-2999

					
	
	Number of shares for which this warrant is initially exercisable: [    ]
	
	HOLDER:
	
	  

	
[                            
]

		
	Address:	 	  

	
	  

		
	Facsimile:	 	  

		
	Soc. Sec. No. or Tax ID:	 	  

  

 8 

 SUBSCRIPTION 

Helix BioMedix, Inc. 
 22118 20th Avenue SE,
Suite 204 
 Bothell, WA 98021 
 Ladies
and Gentlemen: 
 The undersigned hereby elects to purchase, pursuant to the provisions of the Warrant dated March 5, 2010,
held by the undersigned,      shares of Common Stock of Helix BioMedix, Inc., a Delaware corporation, and tenders herewith payment of the purchase price of such shares in full. 

The undersigned hereby confirms and acknowledges the investment representations and warranties made in Section 6 of the Warrant and
accepts such shares subject to the restrictions of the Warrant, copies of which are available from the Secretary of the Company. 
  

									
	Date:	 	  
	 		  	Print Name(s):	  	  

		 		 		  		  	  

		 		 		  	Signature:	  	  

		 		 		  	Title if applicable:	  	  

		 		 		  	Signature:	  	  

		 		 		  	Title if applicable:	  	  

		 		 		  	Address:	  	  

		 		 		  		  	  

Warrant Subscription 

 FORM OF ASSIGNMENT 

 

	
	The undersigned hereby assigns this Warrant to
	  

	  

	  

	(Print or type name, address and zip code of assignee)

Please insert Social Security or other identifying number of assignee: 
  

 
 and irrevocably appoints
             as agent to transfer this Warrant on the books of the Company. The agent may substitute another to act for him or it. 

Date:                      

Signed: 
  

 
  

 
 (All owners must sign exactly as
name(s) appear(s) on the front of this Warrant) 
 The undersigned assignee hereby confirms and acknowledges the investment
representations and warranties made in Section 6 of the Warrant and agrees to be bound by the obligations set forth in the Warrant, copies of which are available from the Secretary of the Company. 

 

							
	Date:	 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

Warrant Form of AssignmentInternational Distribution Agreement - RubyDerm Bio Inc.

 Exhibit 10.17 

INTERNATIONAL DISTRIBUTION AGREEMENT 

This International Distribution Agreement (this “Agreement”), dated as of March 3, 2010 (the
“Effective Date”), is made by and between Helix BioMedix, Inc (“Helix”), a company incorporated under the laws of the State of Delaware, USA, with its principal office at 22118
20th Ave SE # 204, Bothell, Washington 98021 USA
(“Helix”), and the company identified below (“Distributor”). 
  

			
	Name of Distributor	  	RubyDerm Bio Inc.
		
	Principal Address of Distributor	  	3F Moojin Building, 60 Nonhyun-Dong, Kangnam-Gu, Seoul, Korea
		
	Phone/Facsimile	  	Phone: 82 2 3446 7588 Facsimile: 82 2 3446 7589
		
	E-mail Address	  	***
		
	Form and Jurisdiction of Distributor’s Business	  	Seoul Korea

 RECITALS 

A. Helix is engaged in the development, manufacture and marketing of skin care, tissue repair and dermatology products. 

B. Distributor desires to distribute certain of Helix’s skin care, wound care and anti-microbial products, and Helix desires to
grant to Distributor the right to distribute such products, all according to the terms set forth in this Agreement. 

AGREEMENTS 

NOW, THEREFORE, in consideration of the mutual promises set forth in this Agreement, Helix and Distributor hereby agree as
follows: 
 1. Definitions 

Capitalized terms used in this Agreement and not otherwise defined will have the meanings set forth below: 

“Confidential Information” means information that has or could have commercial value or other utility in the business or
prospective business of the other party, or information that the receiving party ought in good faith from the circumstances of its disclosure consider to be confidential, including, but not limited to, ideas, methods, design concepts, inventions,
policies, products, technology, business plans, advertising and marketing plans and strategies, formulas, patterns, Helix’s customer lists, financial information, and compilations of information. Confidential Information may be transmitted
orally, in writing, as photocopies, photographs, computer files, notes, memos, faxes, letters, e-mails, files, reports, surveys, presentations, business plans, financial documents, analyses, video and audio tapes, or any other manner or method of
transmitting information whether prepared by the disclosing party to this Agreement or a third party on the disclosing party’s behalf. Confidential Information does not include information that is: (a) known to such party prior to the
receipt from the other party, or (b) generally known or available in the industry or to the general public through no act or fault of such party, or (c) acquired in good faith from a third party that has no obligation of confidentiality
with respect to such information, or (d) subject to the 
 Confidential treatment has been requested for portions of this Distribution
Agreement. This Distribution Agreement omits the information subject to the confidential treatment request. Omissions are designated as ***. A complete version of this exhibit has been filed separately with the Securities and Exchange Commission.

 
provisions of Section 15, required to be disclosed by applicable law, by order of court or the rules, regulations, or order of any governmental agency, or (e) independently developed
for one party by employees or agents of that party who do not have access to the Confidential Information of the other party. 

“Market” means the retail and/or wholesale sectors identified in paragraph 1 of Schedule A, as the same may be
amended from time to time by mutual written agreement of the parties. 
 “Products” means the final proprietary
skin care, wound care and anti-microbial products made by or for Helix identified on Schedule A, which may be modified by Helix from time to time. 

“Terms of Sale” means Helix’s standard terms of sale, which may be modified by Helix from time to time. A copy of
Helix’s current standard terms of sale is attached hereto as Schedule B. 
 “Territory” means the
geographical area identified on Schedule A, as the same is amended from time to time by mutual written agreement of the parties. 

“Trademarks” means the trademarks of Helix identified on Schedule A, as the same may be amended from time to time
by mutual written agreement of the parties. 
 2. Appointment 

Subject to the terms and conditions of this Agreement, Helix hereby appoints Distributor as a distributor of the Products in the Market
and in the Territory, such appointment being exclusive to Distributor with respect to the Market within the Territory. Distributor may distribute Products only to persons and entities located and taking delivery within the Territory. Furthermore,
Products distributed by Distributor for further distribution may be distributed only through subdistributors approved by Helix. Distributor is specifically excluded from selling Products to the accounts listed on Schedule A (“Excluded
Accounts”). Notwithstanding any other provision of this Agreement, Helix may sell Products to any Excluded Account in the Market in the Territory. Further, nothing in this Agreement shall be construed as limiting in any manner Helix’s
marketing or distribution activities, or its appointment of other dealers, distributors, licensees or agents, in each case other than with respect to the Market within the Territory. 

3. Relationship of the Parties 

3.1 Independent Contractors 

Distributor is an independent contractor to Helix and will have no right, authority or power to create any obligation or responsibility,
express or implied, on behalf of or in the name of Helix. This Agreement does not construct any relationship between Distributor and Helix such as agent, partnership, joint venture, or employer and employee. Helix is in no manner associated with or
otherwise connected with the actual performance of this Agreement on the part of Distributor, nor with Distributor’s employment of other persons or incurring of other expenses. Except as expressly provided herein, Helix shall have no right to
exercise any control over the activities or operations of Distributor. 
 3.2 Distributor’s Employees 

Distributor is solely responsible for the employment, direction and control of its employees and agents. Distributor shall indemnify and
hold Helix harmless against any cost or liability arising from, or as a result of, Distributor’s employment, direction or control of its employees and agents. 
  

 

	***	Confidential treatment requested 

  

 2 

 3.3 Distributor’s Taxes 

Helix shall not be liable for any taxes, duties and other government assessments in any jurisdiction which are incurred or arise in
connection with or related to Distributor’s business activities (under this Agreement or otherwise), other than Helix’s US income taxes, and all such taxes will be the financial responsibility of Distributor. Distributor agrees to
indemnify, defend and hold Helix harmless from any such taxes or claims, causes of action, costs (including, without limitation, reasonable attorneys’ fees) and any other liabilities of any nature whatsoever related to such taxes, duties or
other government assessments. 
 4. Purchase of Products by Distributor 

4.1 Terms and Conditions 

All sales of Products by Helix to Distributor will be subject to, and governed by, the terms and conditions of this Agreement and the
Terms of Sale. The terms and conditions of this Agreement, including the Terms of Sale, will supersede the terms and conditions of any purchase order, acknowledgment or similar document at any time submitted by Distributor. 

4.2 Pricing 

All Products will be sold to Distributor at the prices set forth in Helix’s pricing schedule attached hereto as Schedule C
through the date specified on Schedule C. Prices may be increased *** thereafter upon *** written notice by Helix. New prices will apply to all orders made after such notice period. 

4.3 Payments 

Distributor shall make payment to Helix in United States Dollars. Payment for an order shall be made in advance by wire transfer, Visa,
MasterCard or American Express. 
 4.4 Initial Order 

Within *** days after the Effective Date (unless extended by mutually written agreement of the parties), Distributor shall deliver to
Helix a purchase order for at least the quantity or aggregate value of Products described on Schedule A, for delivery as specified on Schedule A. 

4.5 Subsequent Orders; Frequency; Minimum Size 

Distributor shall place orders not more frequently than once per month and each order will specify a minimum of the quantity or aggregate
value of Products described on Schedule A. 
 4.6 Forecasts 

Distributor shall, on a calendar quarterly basis, provide Helix with a good-faith forecast of its requirements for Products, to include
such data and periods as may be reasonably requested by Helix. 
 4.7 Lead Time 

Helix shall not be required to deliver Products ordered by Distributor prior to *** days after receipt of each respective purchase order.

  
  

	***	Confidential treatment requested 

  

 3 

 4.8 Product Changes or Discontinuance 

Helix may at any time make any changes in, or discontinue the sale of, any specific Product or variation thereof. Helix shall give ***
days’ notice to Distributor of any planned discontinuance or *** days’ notice of any planned significant change in the Products, prior to such discontinuance or change. 

5. Efforts, Resources and Other Obligations of Distributor 

In addition to its other obligations under this Agreement, Distributor shall: 

5.1 Achieve the performance standards set forth on Schedule A (the “Performance Standards”). 

5.2 Use its best efforts to successfully publicize, advertize and otherwise market (including, without limitation, inclusion of
the Products in Distributor’s catalogs and other promotional materials) and distribute the Products on a continuing basis in the Market in the Territory. 

5.3 Provide and maintain, at Distributor’s expense, all personnel, facilities, equipment and other resources necessary in
order to effectively market and distribute the Products in the Market in the Territory. 
 5.4 Maintain adequate stock
levels of Products to meet the needs of its customers. 
 5.5 Train its sales personnel so that they are knowledgeable of
the Products and capable of effectively presenting, promoting, demonstrating and supporting the Products in the Market in the Territory. 

5.6 Provide prompt attention to, and resolution of, inquiries from customers in the Market in the Territory. 

5.7 Respond to all customer leads supplied by Helix in a timely fashion, and bid only Helix Products for all such leads and, if
requested, provide an audit of all leads supplied by Helix. 
 5.8 Conduct business in a manner that reflects favorably
at all times on the Products and the good name, goodwill and reputation of Helix. 
 5.9 As requested by Helix and at
Distributor’s sole expense, (a) secure and maintain in its own name (unless directed by Helix to secure, in the name of Helix), any and all registrations, permits, licenses, approvals, and other governmental actions required to import,
handle, market, sell, demonstrate, use and distribute Products in the Market in the Territory, and (b) provide to Helix quarterly progress reports on any such action, and provide to Helix copies of all registrations, permits, licenses,
approvals, certificates, correspondence and other documentation related to any such action. 
 5.10 Provide all customer
service and support for the Products in the Market in the Territory. Distributor agrees and acknowledges that Helix will have no obligation to provide customer service and support of any kind in the Market in the Territory. 

5.11 To keep Helix informed as to any problems encountered with the Products and any resolutions arrived at for those problems,
and to communicate promptly to Helix any and all modifications, design changes or improvements of the Products suggested by any customer, employee or agent. Distributor further agrees that Helix shall have and is hereby assigned any and all right,
title and interest in and to any such suggested modifications, design changes, or improvements of the Products, without the payment of any additional consideration therefor either to Distributor, or its employees, agents or customers. 

 
  

	***	Confidential treatment requested 

  

 4 

 6. Restrictions 

In addition to its other restrictions under this Agreement, Distributor shall not: 

6.1 Sell, use or transfer any Products outside the Market or Territory. Distributor shall not sell or transfer any Products to a
party if Distributor knows or has reason to know that such party intends to directly or indirectly market, sell, transfer or use the Products outside the Market or Territory. 

6.2 Make any representations or warranties to any third party that purport to bind Helix. 

6.3 Modify, reformulate or alter the composition of any Product or its packaging in any way without Helix’s prior written
approval. Distributor is expressly forbidden from altering, removing, obscuring or modifying any label, Trademark or other Helix symbol from any Product or printed materials provided under this Agreement, including, but not limited to, Product
marketing and training materials provided by Helix. Furthermore, Distributor shall solely use Product marketing and training materials that have been approved and authorized by Helix in writing. 

6.4 Distribute in the Market in the Territory any third party product that Helix reasonably considers is competitive to any Helix
Product. A complete list of all skin care, tissue repair and dermatology products currently distributed by Distributor is set forth on Schedule D and Helix acknowledges that such products shall be deemed not to compete with the Products.

 6.5 Engage in any deceptive, misleading or unethical practices that are detrimental to Helix, the Products or the
public. 
 6.6 Make false or misleading representations, advertisements or claims with regard to the Products or Helix.

 7. Obligations of Helix 

In addition to its other obligations under this Agreement, Helix shall: 

7.1 Provide to Distributor such amounts of Product marketing and training materials as Helix determines reasonable in its sole
discretion, all in the English language unless otherwise agreed by Helix. 
 7.2 Keep Distributor informed of any Product
complaints that are, in Helix’s reasonable judgment, important concerning the quality and performance of Products. 

7.3 Provide technical specifications and other information currently available and reasonably required to support
Distributor’s securing of registrations, permits, licenses, approvals and other governmental actions required to import, handle, market, sell, demonstrate, use or distribute Products in the Territory. 

8. Reports; Quality Assurance 

8.1 Reports 

Distributor shall provide to Helix the written reports in the form and frequency described on Schedule E. 

 
  

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 8.2 Quality Assurance 

Distributor shall maintain a quality assurance program that is acceptable to Helix. Helix shall have the right during the term of this
Agreement, upon reasonable notice and during regular business hours, to visit Distributor to inspect records and data directly related to the distribution and sale of Products for the purpose of confirming compliance with this Agreement and the
quality assurance program. Distributor agrees to implement any reasonable corrective action requested by Helix resulting from such review. 

9. Intellectual Property 

9.1 Helix’s Rights 

The Products involve valuable patent, copyright, trade secret, trade name, trademark and other proprietary rights of Helix, including, but
not limited to, the Trademarks. No title to or ownership of any such proprietary right is transferred to Distributor under this Agreement or by use of any Trademark, patent or other proprietary right. Helix reserves all such proprietary rights.
Distributor will not infringe, misappropriate or violate any proprietary rights of Helix. Without limiting the generality of the foregoing, Distributor will not register or attempt to register, directly or indirectly, within the Territory or
elsewhere, any such patents, copyrights, trade names, trademarks or other proprietary rights (including URLs that utilize, or that are substantially similar to, the Trademarks) other than in the name of Helix and as expressly directed by Helix in
writing. 
 9.2 Nonexclusive License Grant 

Subject to the terms and conditions of this Agreement, Helix hereby grants to Distributor a nonexclusive license to use the Trademarks
solely in connection with the sale and offering for sale of Products in the Market in the Territory. 
 9.3 Use of Trademarks
and Trade Names 
 Distributor shall not use the name of Helix or its trade names, Trademarks, logos or any equivalent
thereof in any publicity or advertising, or in any other manner whatsoever, without the prior written consent of Helix. 

9.4 Enforcement 

Distributor will immediately notify Helix of any infringement, misappropriation or violation of any of Helix’s proprietary rights
relating to Products, Trademarks or the activities of Distributor hereunder. In the event of any such infringement, misappropriation or violation relating to the activities of Distributor or any of its employees, agents, representatives or
customers, Distributor will, at Distributor’s expense but subject to Helix’s consent, take all steps reasonably necessary to terminate said infringement, misappropriation, or violation. Distributor will obtain Helix’s consent before
initiating any legal proceeding in connection with such infringement, misappropriation or violation. Helix may, at its option, expense and recovery (if any), assume control of any such proceeding. If Helix assumes such control, Helix will have
exclusive control over the prosecution and settlement of the proceeding and Distributor will provide such assistance related to such proceeding as Helix may reasonably request and assist Helix in enforcing any settlement or order made in connection
with such proceeding. 
 9.5 Assignments 

On the termination or expiration of this Agreement, Distributor will assign to Helix or such other person or entity as Helix may designate
all rights, registrations, reservations, licenses, permits and similar items made or obtained by Distributor relating to the Products or any proprietary rights of Helix. 

 
  

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 6 

 9.6 Translation 

Distributor may translate the Product sales literature, training materials and other documentation provided by Helix only with
Helix’s prior written consent Distributor hereby assigns to Helix all proprietary rights in and to any such translated versions of the documentation. Distributor agrees to, and shall cause its employees, agents and consultants to, execute such
documents and to perform such acts as may be reasonably necessary to perfect and/or register such assignment in all relevant jurisdictions. 

10. Term of Agreement; Termination; Appointment of Successor 

10.1 Term 

Unless earlier terminated as provided herein, the term of this Agreement will commence on the Effective Date of this Agreement and will
terminate on the date set forth on Schedule A. 
 10.2 Termination 

This Agreement may be terminated: 

(a) by Helix for convenience upon ninety (90) days’ prior notice; or 

(b) by either party if the other party breaches this Agreement and fails to cure such breach within thirty (30) days of written
notice from the other party describing such breach; or 
 (c) by Helix giving ten (10) days’ prior notice in the event
(i) the Distributor fails to achieve the Performance Standards or (ii) there is a proposed or completed change in control or management of Distributor which is unacceptable to Helix; or 

(d) by either party giving the other party ten (10) days’ prior notice in the event (i) the other party ceases to function
as an ongoing concern and conduct its operations in the normal course of business, (ii) the other party becomes insolvent or bankrupt, (iii) the other party makes an assignment for the benefit of creditors, or (iv) a trustee or
receiver shall be appointed for the other party. 
 10.3 Inventory 

Helix shall deliver, and Distributor shall pay to Helix the purchase price and other expenses of, all Products for which orders were
accepted prior to termination of this Agreement. Within thirty (30) days after the date of termination or expiration of this Agreement (the “Termination Date”), Distributor shall provide Helix with a written inventory of all Products
in its stock as of the Termination Date (the “Inventory”). Except in the event of a termination by Helix for breach pursuant to Section 10.2(b), Distributor shall have the right to sell off the Inventory in the Market in the Territory
at its normal prices for a period of six (6) months after the Termination Date. Following such six (6) month period, Distributor shall either destroy, or surrender to Helix at no cost to Helix, all remaining Inventory. 

10.4 Survival 

All accrued obligations and the provisions of Sections 3, 4.3, 5.8, 5.11, 6.1, 6.2, 6.3, 6.5, 6.6, 9.1, 9.3, 9.4, 9.5, 10.3, 10.4, 10.5,
and 14 through 21 will survive expiration or termination of this Agreement and will remain effective in accordance with their terms. 

10.5 Acknowledgment 

Any expiration or termination of this Agreement will be final and absolute. Distributor waives any right, either express or implied by
applicable law or otherwise, to renewal of this Agreement or to any damages or compensation for any expiration or termination of this Agreement in accordance with this Section 10. Each of the parties have considered the possibility of such
expiration or termination and the possibility of loss and damage resulting there from in making expenditures pursuant to the performance of this Agreement. It is the express intent and agreement of the parties that neither will be liable to the
other for damages or otherwise by reason of the expiration or termination of this Agreement as provided for herein. 
  

 

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 7 

 10.6 Appointment of Successor Distributor 

(a) If Distributor terminates this Agreement, Helix may, at any time prior to the effective date of such termination, announce a successor
distributor, if any, and both Helix and Distributor agree to allow such successor distributor to take all actions necessary or helpful to make itself known as Helix’s distributor in the Market in the Territory, able to do business from a
specified date, that date being the day after the effective termination of this Agreement. 
 (b) If Helix terminates this
Agreement, Helix may, no earlier than twenty (20) days prior to the effective date of such termination, announce a successor, if any, and allow such successor distributor to make itself known as Helix’s distributor in the Market in the
Territory, able to do business from a specified date, that date being the day after termination hereof. 
 11. Compliance with Laws; Foreign
Corrupt Practices Act 
 11.1 General 

Distributor shall at all times comply with all applicable laws and regulations in selling Products and in otherwise exercising rights or
performing obligations hereunder. Neither party shall have to perform any obligations set forth in this Agreement if such performance would violate applicable law. 

11.2 Foreign Corrupt Practices Act 

In performance of its activities, duties and obligations under this Agreement, Distributor shall comply with the U.S. Foreign Corrupt
Practices Act (“FCPA”). Distributor represents and warrants that it is familiar with the obligations and restrictions of the FCPA, and that it and its employees and agents will comply with the provisions of the FCPA. 

11.3 Compliance With Export Laws 

Distributor will comply with all applicable export laws, restrictions, and regulations of any United States or foreign agency or authority
and not to export or re-export, or allow the export or re-export of any product, technology or information it obtains or learns pursuant to this Agreement (or any direct product thereof) in violation of any such laws, restrictions or regulations.
Distributor shall obtain and bear all expenses relating to any necessary licenses and/or exemptions with respect to the export from the U.S. of the Products to the Territory in compliance with all applicable laws and regulations. 

12. Assignment 
 Neither
this Agreement nor any rights or obligations hereunder may be assigned or transferred by Distributor, either voluntarily or by operation of law, without Helix’s written consent. Any purported assignment or transfer in violation of this section
shall be void. This Agreement will be binding upon and inure to the benefit of the parties and their permitted successors and assigns. 
 13.
Insurance 
 At all times that Distributor is purchasing Products from Helix, Helix and Distributor shall maintain
appropriate insurance coverage for Distributor’s activities under this Agreement (including, without limitation, comprehensive general liability and automobile liability insurance with limits of not less than ***). Such insurance will name
Helix as an additional insured, contain a waiver of any rights of the insurer 
  

 

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 8 

 
to subrogation against Helix and afford Helix not less than thirty (30) days advance notice of any cancellation or material change. Upon Helix’s request, Distributor shall provide Helix
with such certificates of insurance and other evidence of such insurance as Helix may reasonably request. 
 14. Indemnification

 14.1 By Distributor 

Distributor shall indemnify, defend and hold Helix and its officers, directors, agents and employees harmless from and against any and all
third party and governmental claims, including related suits, losses, liabilities, damages, expenses and court costs (including reasonable attorneys’ fees), that may arise on account of Distributor’s activities, or those of its employees
or agents (including, without limitation, direct and indirect subdistributors), including without limitation, providing unauthorized representations or warranties to its customers or breaching any term, representation or warranty of this Agreement,
provided Distributor is promptly notified of any and all threats, claims and proceedings related thereto and given reasonable assistance and the opportunity to assume sole control over the defense and all negotiations for a settlement or compromise;
Distributor will not be responsible for any settlement it does not approve in writing. 
 14.2 By Helix 

Helix shall indemnify, defend and hold Distributor and its officers, directors, agents and employees harmless from liability to a third
party resulting from infringement by a Product of any United States patent issued as of the first date of delivery the applicable Product or any United States copyright, provided Helix is promptly notified of any and all threats, claims and
proceedings related thereto and given reasonable assistance and the opportunity to assume sole control over the defense and all negotiations for a settlement or compromise; Helix will not be responsible for any settlement it does not approve in
writing. THE FOREGOING IS IN LIEU OF ANY WARRANTIES OF NONINFRINGEMENT, WHICH ARE HEREBY DISCLAIMED. The foregoing obligation of Helix does not apply with respect to Product or portions or components thereof (i) that are not supplied by Helix,
(ii) that are made in whole or in part in accordance to Distributor specifications, (iii) that are modified after shipment by Helix, if the alleged infringement relates to such modification, (iv) that are combined with other products,
processes or materials where the alleged infringement relates to such combination, (v) where the allegedly infringing activity continues after notification thereof or of modifications that would have avoided the alleged infringement,
(vi) where use of the Product is incident to an infringement not resulting primarily from the Product or (vii) where use is not strictly in accordance with this Agreement and all applicable grants of rights, documentation and restrictions;
Distributor will indemnify Helix and its officers, directors, agents, and employees from all damages, settlements, attorneys’ fees and expenses related to a claim of infringement or misappropriation excluded from Helix’s indemnity
obligation by this sentence. This Section 14.2 shall not be interpreted to grant to Distributor any rights not expressly granted under this Agreement. 

15. Confidentiality 

15.1 General 

Each party acknowledges that the Confidential Information of the other party is confidential in nature and contains trade secrets
belonging to the other party. Each party understands and agrees that the disclosing party will suffer irreparable harm in the event of any unauthorized disclosure of any portion of any of such party’s Confidential Information to a third party
without the prior written consent of the disclosing party. Each party shall keep the Confidential Information received from the other party in confidence, shall use such Confidential Information only for the purposes of this Agreement, and shall not
disclose such Confidential Information to any person or entity, other than to its employees, agents or contractors on a need-to-know basis, without the disclosing party’s prior written consent. Each party agrees to take measures to protect the
confidentiality of the other party’s Confidential Information that, in 
  

 

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 9 

 
the aggregate, are no less protective than those measures it uses to protect the confidentiality of its own confidential or proprietary information of similar kind and import (in no event, less
than commercially reasonable measures), and to advise its employees of the confidential nature of such Confidential Information and of the prohibitions on revealing such Confidential Information contained herein, and to require its agents and
contractors to execute a confidentiality agreement at least as restrictive as these provisions. 
 15.2 Effect of Termination

 Upon the discontinuance, termination or cancellation of this Agreement, the affected Confidential Information and all
copies in whatever medium or form will be returned to the disclosing party or, with the disclosing party’s prior written consent, will be destroyed and the receiving party shall certify as to such destruction. 

15.3 Previous Confidential Information 

The provisions of this Section 15 will apply to Confidential Information provided by one party to the other party prior to the date
of this Agreement. 
 16. Notices 

Any notice, demand or communication required or permitted to be given by any provision of this Agreement shall be deemed to have been
sufficiently given or served for all purposes if (a) delivered personally, (b) deposited with a pre-paid messenger, express or air courier or similar courier, or (c) transmitted by telecopier, facsimile, email or other communication
equipment that transmits a facsimile of the notice to like equipment that receives and reproduces such notice. Notices will be addressed to a party at the party’s address, facsimile number or email address as set forth below. Notices shall be
deemed to have been received (i) in the case of personal delivery, upon receipt, (ii) in the case of messenger, express or air courier or similar courier, two days after being deposited, and (iii) in the case of telecopier, facsimile,
email or other communication equipment, the day of receipt as evidenced by a telecopier, facsimile, email or similar communication equipment confirmation statement. 
  

			
	If to Helix:	  	 Helix BioMedix, Inc.
 22118
- 20th Ave SE #204

Bothell, Washington 98021

		  	 Attn: President
 Fax:
425-806-2999

		
	If to Distributor:	  	 RubyDerm Bio Inc.
 3F Moojin
Building, 60 Nonhyun-Dong
 Kangnam-Gu, Seoul, Korea

Attn: President

		  	Fax: 82 2 3446 7589

 Either party may
change the individual designated above or its contact information or both by notice in accordance with this Section 16. 
 17. Governing
Law 
 This Agreement will be governed by the laws of the state of Washington, without regard to its or any other
jurisdiction’s principles of conflict of law. The provisions of the United Nations Convention on Contracts for the International Sale of Goods will not apply to this Agreement. 

 
  

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 18. Arbitration 

Any and all disputes or controversies arising out of or in connection with this Agreement will be settled by final and binding
arbitration, unless otherwise agreed to by both parties. The arbitration will be held in Seattle, Washington, U.S.A., in accordance with the Commercial Arbitration Rules of the American Arbitration Association (the “AAA Rules”) before a
single arbitrator. The arbitrator appointed pursuant to the AAA Rules will be fluent in English (U.S. usage) and will be an attorney with at least ten (10) years’ experience in the cosmetic or pharmaceutical industry. All documents
submitted to the arbitrator will be in English or accompanied by a certified English translation. Judgment upon the award may be entered in any court having jurisdiction, or application may be to such court for a judicial acceptance of the award and
an order of enforcement, as the case may be. All costs, fees and expenses, including attorneys’ fees, for the arbitration hearing and the costs of enforcement, and upon appeal, if any, will be borne by the party against whom the judgment is
rendered or will be apportioned by the arbitrator. The provisions of this Section 18 will not preclude the application to any court for injunctive or other equitable relief to prevent breach of the Agreement by either party or to prevent the
misuse or unauthorized disclosure of Confidential Information and will not preclude the issuance of such relief by any court. 
 19.
Separability 
 If any provision of this Agreement is held to any extent invalid or unenforceable, such provision will be
deemed amended to conform to applicable laws and to accomplish the intentions of the parties. The existence of any invalid or unenforceable provision will not void the entire Agreement. 

20. Miscellaneous 
 The
headings or titles in this Agreement are for the purposes of reference only and will not in any way affect the interpretation or construction hereof. All schedules and other attachments hereto are hereby incorporated herein and made a part of this
Agreement. The failure at any time to enforce any of the terms, provisions or conditions of this Agreement will not constitute or be construed as a waiver of the same, and any single or partial exercise of any right under this Agreement will not
preclude any further or other exercise of the same or the exercise of any other right. This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes and cancels all prior and contemporaneous
agreements, claims, representations and understandings of the parties in connection with such subject matter. This Agreement will not be modified or amended except by written agreement signed on behalf of Distributor and Helix by their respective
duly authorized representatives. This Agreement may be executed in one or more counterparts, each of which will be deemed an original, and all of which together will constitute one and the same instrument. This Agreement will not be construed
against the party preparing it, but will be construed as if all the parties jointly prepared the Agreement, and any uncertainty or ambiguity will not be interpreted against any one party. 

21. Basis of Bargain 
 EACH PARTY
RECOGNIZES AND AGREES THAT THE WARRANTY DISCLAIMERS AND LIABILITY AND REMEDY LIMITATIONS IN THIS AGREEMENT ARE MATERIAL BARGAINED FOR BASES OF THIS AGREEMENT AND THAT THEY HAVE BEEN TAKEN INTO ACCOUNT AND REFLECTED IN DETERMINING THE CONSIDERATION
TO BE GIVEN BY EACH PARTY UNDER THIS AGREEMENT AND IN THE DECISION BY EACH PARTY TO ENTER INTO THIS AGREEMENT. 
 Signature
page follows. 
  
  

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 11 

 The parties have caused this Agreement to be executed in duplicate originals by their duly
authorized representatives, effective as of the date set forth above. 
  

									
	HELIX BIOMEDIX, INC.	 		 	DISTRIBUTOR / RubyDerm Bio Inc.
			
	 March 3, 2010
	 		 	 Mar. 03, 2010

					
	By	 	 /s/ Robin Carmichael
	 		 	By	 	 /s/ Jerry Jung

	Name	 	Robin Carmichael	 		 	Name	 	Jerry Jung
	Title	 	VP Marketing & Business Development	 		 	Title	 	President

  

 
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 12 

 SCHEDULE A 

Market, Products, Territory, Etc. 

1. Market 
 Cosmetic
businesses such as spas, boutiques, and beauty stores, and hospitals, clinics and Physician dispensed, medical non-prescription skin care. 

2. Products 
 Cerakine
Eye, Serum, Moisturizer, Vitamin Cleanser, Oily Skin Cleanser & Acne Control Lotion and future products that may be added to the line through mutual consent. 

3. Territory 
 Initially,
South Korea, China & Japan. Based on performance, Territory may be amended through mutual consent to cover other countries where the Distributor does business 

4. Trademarks 

The “Helix
BioMedix®” mark, the SmartPeptideTM mark and the CerakineTM mark. 

5. Excluded Accounts 

None 
 6. Initial Order
Quantity and Delivery Timeframe 
 *** initial order to be delivered by a date to be agreed upon by the parties. 

7. Minimum Order Quantities 

Orders will be placed generally monthly or quarterly, noting that for the first 6 months of the agreement the Distributor may need to
order more frequently until a sales history can be established. 
 8. Performance Standards 

Distributor shall purchase from Helix a minimum purchase requirement of Products during the time periods described below: 

 

									
	March 1, 2010	  	through	  	March 31, 2011	  	:	  	***
	April 1, 2011	  	through	  	March 31, 2012	  	:	  	***
	April 1, 2012	  	through	  	March 31, 2013 and	  	:	  	***
	 and each subsequent period of

April 1,
	  	through	  	March 31 thereafter	  	:	  	***

 9. Expiration Date of Term 

March 31, 2014. Thereafter, this Agreement may be renewed for one year terms upon mutual agreement. 

10. Other Matters 
 None

  
  

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 SCHEDULE B 

Standard Terms of Sale 

1. Agreement. These Standard Terms of Sale (“Terms of Sale”) govern all purchase and sale transactions between
Helix and Distributor involving Products supplied by Helix. Helix will not be bound by, and specifically objects to, any term, condition or other provision which is different from or in addition to the provisions of this Agreement which is proffered
by Distributor in any purchase order, receipt, acceptance, confirmation, correspondence, or otherwise, unless Helix specifically agrees to such provision in a written instrument signed by Helix. 

2. Acceptance. Helix shall deliver to Distributor and Distributor shall accept and pay for, all Products ordered by Distributor
pursuant to an order which has been accepted by Helix, insofar as such Product complies with specifications. All orders are subject to acceptance by Helix either in writing or by shipping Product. Helix may accept any order in full or in part, and
Helix’s shipment of less than all Product ordered will constitute acceptance only as to those quantities of Product shipped. 

3. Firm Orders. Distributor may not modify, rescind or cancel any order, in whole or in part, without Helix’s written
consent. 
 4. Taxes. Prices do not include sales, excise, use or other taxes, duties or fees now in effect or hereafter
levied which Helix may be required to pay, excluding Helix’s local, State or Federal income taxes, or collect in connection with the sale of Product to Distributor; all such taxes, duties and fees will be for the account of Distributor who
shall promptly pay Helix upon demand therefor. 
 5. Delivery. Helix shall use commercially reasonable efforts to meet
any delivery date specified in an order. If Helix cannot meet the specified delivery date, Helix shall promptly notify Distributor of the delay and take all reasonable steps to expedite delivery. Unless otherwise specified by Helix, Product shall be
delivered to Distributor F.O.B. Helix’s warehouse, Redmond, Washington or other Helix manufacturing facility. If Distributor requests shipments and/or deliveries in separate lots, Distributor shall be responsible for excess shipping charges, if
any. Distributor is responsible for all transportation costs, including, but not limited to, shipping charges, premiums for freight insurance, inspection fees, customs, duties, import or export fees, assessments, and all other costs incurred in
transporting the Product to the destination. Distributor shall be responsible for prosecuting any claims against any carrier arising from or relating to shipment. Helix will reasonably cooperate with Distributor with respect to such claims
prosecution at Helix’s sole cost and expense. 
 6. Inspection. Distributor shall promptly inspect shipments of
Product upon receipt and either accept or reject them for failure to conform to applicable specifications. Helix shall reimburse Distributor for any expenses related to the return of any Product that, in Helix’s reasonable determination, fails
to conform to applicable specifications. Distributor will give Helix prompt written notice of rejection of nonconforming Product. Distributor shall be deemed to have accepted the Product if Distributor fails to give written notice of rejection
within five (5) days of delivery of Product. 
 7. Warranty and Disclaimer; Returns and Limitation of Remedy. Helix
warrants that all Product sold to Distributor pursuant to this Agreement, at the time of delivery to Distributor, will be substantially in accordance with the applicable specifications for the Product in effect at the time of sale by Helix to
Distributor. Helix further warrants that all Product manufactured by Helix for Distributor will be free and clear of all liens and encumbrances. 
  

 

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 In order to bring a claim under this warranty, Distributor must give Helix written notice of
any nonconformance within thirty (30) days after delivery of the Product. 
 This warranty shall not apply to any Product
that (a) has been altered by unauthorized personnel, (b) has been misused, abused or damaged, or (c) handled contrary to Helix’s Product storage and transportation guidelines after delivery. 

HELIXMAKES NO OTHER WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO ANY PRODUCT, INCLUDING WARRANTIES OF MERCHANTABILITY
OR FITNESS FOR A PARTICULAR PURPOSE, OR WARRANTIES ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING, USAGE OF TRADE OR SAMPLES PREVIOUSLY SUPPLIED. 

Distributor’s sole remedy and Helix’s sole obligation and liability under this warranty is limited, at Helix’s option, to
(a) repair or replacement of any nonconforming Product, which will be returned to Helix pursuant to Helix’s then-current returns policy and procedures, or (b) repayment of, or reduction in, a reasonable portion of the Product’s
purchase price. Helix will be under no obligation to accept the return of nonconforming Product contrary to this provision, or to accept return of Product that conforms to the applicable specifications for such Product. 

8. Limitation of Liability. NOTWITHSTANDING ANYTHING ELSE IN THIS AGREEMENT OR OTHERWISE, EXCEPT AS MAY BE OTHERWISE REQUIRED BY
LAW, HELIX WILL NOT BE LIABLE WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT UNDER ANY CONTRACT, NEGLIGENCE, STRICT LIABILITY, OR OTHER LEGAL OR EQUITABLE THEORY FOR (I) AMOUNTS THAT IN THE AGGREGATE ARE IN EXCESS OF THE AMOUNTS PAID TO
HELIX HEREUNDER WITH RESPECT TO THE PRODUCT GIVING RISE TO LIABILITY OR (II) ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES OR LOST PROFITS OR (III) COST OF PROCUREMENT OF SUBSTITUTE GOODS, TECHNOLOGY, OR SERVICES. 

9. Force Majeure. Helix will not be responsible or liable for any losses or damages caused by any delay or failure to provide
Product hereunder due to strikes, differences with workers or other labor disputes, war, acts of terrorism, insurrection, revolution, riots, commotions, disorders, fires, floods, acts of God, embargoes, governmental authorizations and instructions,
governmental restrictions or other acts or delays of governmental authorities, unavailability of power supplies, unavailability of materials, delays or failures attributable to Distributor, or any other cause beyond its reasonable control.

  
  

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 SCHEDULE C 

Pricing 
 

 
  

													
	 Reorder #
	  	 Retail Products
	  	***	 	***	 	***	 	***	 	***
							
	 CKR0801
	  	Rejuvenating Eye Creme with SmartPeptidesTM	  	***	 	***	 	***	 	***	 	***
							
	 CKR0802
	  	Restorative Moisture Crème with SmartPeptidesTM	  	***	 	***	 	***	 	***	 	***
							
	 CKR0803
	  	Multi-Peptide Serum with SmartPeptidesTM	  	***	 	***	 	***	 	***	 	***
							
	 CKR0804
	  	Multi-Vitamin Creme Cleanser	  	***	 	***	 	***	 	***	 	***

 Prices valid through March 31,
2012 
  
  

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 SCHEDULE D 

Third Party Products Distributed by Distributor 
  

 

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 SCHEDULE E 

Reports 
  

 

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