Document:

2007 Employee Stock Purchase Plan

 Exhibit 10.5 
 DEVAX, INC. 
 2007 EMPLOYEE STOCK PURCHASE PLAN 
 ARTICLE 1. 
 PURPOSES OF THE PLAN

 Section 1.1. Purpose. The purpose of the Plan is to provide employees of the Company and its Designated Subsidiaries with
an opportunity to purchase Common Stock through accumulated payroll deductions. The Company’s intention is to have the Plan qualify as an “employee stock purchase plan” under Section 423 of the Code. The provisions of the Plan,
accordingly, will be construed so as to extend and limit Plan participation in a uniform and nondiscriminatory basis consistent with the requirements of Section 423 of the Code. 
 ARTICLE 2. 
 DEFINITIONS 
 Section 2.1. “Administrator” means the Board or any Committee designated by the Board to administer the Plan pursuant to
Section 14. 
 Section 2.2. “Applicable Laws” means the requirements relating to the administration of
equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or
jurisdiction where Awards are, or will be, granted under the Plan. 
 Section 2.3. “Board” means the Board of
Directors of the Company. 
 Section 2.4. “Change in Control” means the occurrence of any of the following
events: 
 (a) The acquisition, directly or indirectly, in one transaction or a series of related transactions, by any person or group
(within the meaning of Section 13(d)(3) of the Exchange Act) of the beneficial ownership of securities of the Company possessing more than fifty percent (50%) of the total combined voting power of all outstanding securities of the Company;

 (b) A merger or consolidation in which the Company is not the surviving entity, except for a transaction in which the holders of
the outstanding voting securities of the Company immediately prior to such merger or consolidation hold as a result of holding Company securities prior to such transaction, in the aggregate, securities possessing more than fifty percent
(50%) of the total combined voting power of all outstanding voting securities of the surviving entity (or the parent of the surviving entity) immediately after such merger or consolidation; 
 (c) A reverse merger in which the Company is the surviving entity but in which the holders of the outstanding voting securities of the Company
immediately prior to such merger hold, in the aggregate, securities possessing less than fifty percent (50%) of the total combined voting power of all outstanding voting securities of the Company or of the acquiring entity immediately after
such merger; 

 (d) The sale, transfer or other disposition (in one transaction or a series of related
transactions) of all or substantially all of the assets of the Company, except for a transaction in which the holders of the outstanding voting securities of the Company immediately prior to such transaction(s) receive as a distribution with respect
to securities of the Company, in the aggregate, securities possessing more than fifty percent (50%) of the total combined voting power of all outstanding voting securities of the acquiring entity immediately after such transaction(s); or

 (e) The approval by the stockholders of a plan or proposal for the liquidation or dissolution of the Company. 
 Section 2.5. “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
 Section 2.6. “Committee” means a committee of two or more members of the Board appointed to administer the Plan, as set
forth in Section 14 hereof. 
 Section 2.7. “Common Stock” means the common stock of the Company.

 Section 2.8. “Company” means Devax, Inc., a Delaware corporation, or any entity that is a successor to the
Company. 
 Section 2.9. “Compensation” means an Employee’s base straight time gross earnings, commissions
(to the extent such commissions are an integral, recurring part of compensation), overtime and shift premium, but exclusive of payments for incentive compensation, bonuses and other compensation. 
 Section 2.10. “Designated Subsidiary” means any Subsidiary that has been designated by the Administrator from time to time
in its sole discretion as eligible to participate in the Plan. 
 Section 2.11. “Director” means a member of the
Board. 
 Section 2.12. “Eligible Employee” means any individual who is a common law employee of an Employer and
is customarily employed for at least twenty (20) hours per week and more than five (5) months in any calendar year by the Employer. For purposes of the Plan, the employment relationship will be treated as continuing intact while the
individual is on sick leave or other leave of absence that the Employer approves. Where the period of leave exceeds ninety (90) days and the individual’s right to reemployment is not guaranteed either by statute or by contract, the
employment relationship will be deemed to have terminated on the ninety-first (91st) day of such leave. The Administrator, in its discretion, from time to time may, prior to an Offering Date for all options to be granted on such Offering Date,
determine (on a uniform and nondiscriminatory basis) that the definition of Eligible Employee will or will not include an individual if he or she: (i) has not completed at least two years of service since his or her last hire date (or such
lesser period of time as may be determined by the Administrator in its discretion), (ii) customarily works not more than twenty (20) hours per week (or such lesser period of time as may be determined by the Administrator in its
discretion), (iii) customarily works not more than five (5) months per calendar year (or such lesser period of time as may be determined by the Administrator in its discretion), (iv) is an officer or other manager, or (v) is a
highly compensated employee under Section 414(q) of the Code. 
  

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 Section 2.13. “Employer” means any one or all of the Company and its
Designated Subsidiaries. 
 Section 2.14. “Exchange Act” means the Securities Exchange Act of 1934, as amended,
including the rules and regulations promulgated thereunder. 
 Section 2.15. “Exercise Date” means the first
Trading Day on or after June 1 and December 1 of each year. The first Exercise Date under the Plan will be December 1, 2007. 
 Section 2.16. “Fair Market Value” means, as of any date and unless the Administrator determines otherwise the value of Common Stock determined as follows: 
 (a) If the Common Stock is then listed or admitted to trading on a stock exchange which reports closing sale prices, the Fair Market Value shall be
the closing sale price on the date of valuation on such principal stock exchange on which the Common Stock is then listed or admitted to trading, or, if no closing sale price is quoted on such day, then the Fair Market Value shall be the closing
sale price of the Common Stock on such exchange on the next preceding day on which a closing sale price is reported; 
 (b) If the
Common Stock is not then listed or admitted to trading on a stock exchange which reports closing sale prices, the Fair Market Value shall be the average of the closing bid and asked prices of the Common Stock in the over the counter market on the
date of valuation; 
 (c) If neither (a) nor (b) is applicable as of the date of valuation, then the Fair Market Value shall
be determined by the Administrator in good faith using any reasonable method of evaluation, which determination shall be conclusive and binding on all interested parties.; or 
 (d) For purposes of the Offering Date of the first Offering Period under the Plan, the Fair Market Value will be the initial price to the public
as set forth in the final prospectus included within the registration statement on Form S-1 filed with the Securities and Exchange Commission for the initial public offering of the Common Stock (the “Registration Statement”). 

Section 2.17. “Fiscal Year” means the fiscal year of the Company. 
 Section 2.18. “Offering Date” means the first Trading Day of each Offering Period. 
 Section 2.19. “Offering Periods” means the periods of approximately twenty-four months during which an option granted
pursuant to the Plan may be exercised, (i) commencing on the first Trading Day on or after June 1 of each year and terminating on the first Trading Day on or following June 1, approximately twenty-four months later, and (ii) commencing on
the first Trading Day on or after December 1 of each year and terminating on the first Trading Day on or following December 1, approximately twenty-four months later; provided, however, that the first Offering Period under the Plan will commence
with the first Trading Day on or after the date on which the Securities and Exchange Commission declares the Company’s Registration Statement effective and ending on the first Trading Day on or after June 1, 2009; and provided, further, that
the second Offering Period under the Plan will commence on the first Trading Day on or after December 1, 2007. The duration and timing of Offering Periods may be changed pursuant to Sections 4 and 20. 
 Section 2.20. “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code. 
  

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 Section 2.21. “Plan” means this Devax, Inc. 2007 Employee Stock Purchase
Plan. 
 Section 2.22. “Purchase Period” means the period during an Offering Period which shares of Common Stock
may be purchased on a participant’s behalf in accordance with the terms of the Plan. Unless and until the Administrator provides otherwise, the Purchase Period will mean the approximately six (6) month period commencing on one Exercise
Date and ending with the next Exercise Date, except that the first Purchase Period of any Offering Period will commence on the Enrollment Date and end with the next Exercise Date. 
 Section 2.23. “Purchase Price” means an amount equal to eighty-five percent (85%) of the Fair Market Value of a share
of Common Stock on the Offering Date or on the Exercise Date, whichever is lower; provided however, that the Purchase Price may be determined for subsequent Offering Periods by the Administrator subject to compliance with Section 423 of the
Code (or any successor rule or provision or any other applicable law, regulation or stock exchange rule) or pursuant to Section 20. 
 Section 2.24. “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Code. 
 Section 2.25. “Trading Day” means a day on which the national stock exchange upon which the Common Stock is listed is open
for trading. 
 ARTICLE 3. 
 ELIGIBILITY 
 Section 3.1. First Offering Period. Any individual who is an Eligible Employee immediately prior
to the first Offering Period will be automatically enrolled in the first Offering Period. 
 Section 3.2. Subsequent Offering
Periods. Any Eligible Employee on a given Offering Date subsequent to the first Offering Period will be eligible to participate in the Plan, subject to the requirements of Section 5. 
 Section 3.3. Limitations. Any provisions of the Plan to the contrary notwithstanding, no Eligible Employee will be granted an option under
the Plan (i) to the extent that, immediately after the grant, such Eligible Employee (or any other person whose stock would be attributed to such Eligible Employee pursuant to Section 424(d) of the Code) would own capital stock of the
Company or any Parent or Subsidiary of the Company and/or hold outstanding options to purchase such stock possessing five percent (5%) or more of the total combined voting power or value of all classes of the capital stock of the Company or of
any Parent or Subsidiary of the Company, or (ii) to the extent that his or her rights to purchase stock under all employee stock purchase plans (as defined in Section 423 of the Code) of the Company or any Parent or Subsidiary of the
Company accrues at a rate which exceeds twenty-five thousand dollars ($25,000) worth of stock (determined at the Fair Market Value of the stock at the time such option is granted) for each calendar year in which such option is outstanding at any
time. 
  

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 ARTICLE 4. 
 OFFERING PERIODS 
 Section 4.1. The Plan will be implemented by consecutive, overlapping
Offering Periods with a new Offering Period commencing on the first Trading Day on or after June 1 and December 1 each year, or on such other date as the Administrator will determine; provided, however, that the first Offering Period under the Plan
will commence with the first Trading Day on or after the date upon which the Company’s Registration Statement is declared effective by the Securities and Exchange Commission and end on the first Trading Day on or after June 1, 2009. The
Administrator will have the power to change the duration of Offering Periods (including the commencement dates thereof) with respect to future offerings without stockholder approval if such change is announced prior to the scheduled beginning of the
first Offering Period to be affected thereafter. 
 ARTICLE 5. 
 PARTICIPATION 
 Section 5.1. First Offering Period. An Eligible
Employee will be entitled to continue to participate in the first Offering Period pursuant to Section 3(a) only if such individual submits a subscription agreement authorizing payroll deductions in a form determined by the Administrator (which
may be similar to the form attached hereto as Exhibit A) to the Company’s designated plan administrator (i) no earlier than the effective date of the Form S-8 registration statement with respect to the issuance of Common Stock under
this Plan and (ii) no later than five (5) business days following the effective date of such S-8 registration statement or such other period of time as the Administrator may determine (the “Enrollment Window”). An Eligible
Employee’s failure to submit the subscription agreement during the Enrollment Window will result in the automatic termination of such individual’s participation in the first Offering Period. 
 Section 5.2. Subsequent Offering Periods. An Eligible Employee may participate in the Plan pursuant to Section 3(b) by
(i) submitting to the Company’s payroll office (or its designee), on or before a date prescribed by the Administrator prior to an applicable Offering Date, a properly completed subscription agreement authorizing payroll deductions in the
form provided by the Administrator for such purpose, or (ii) following an electronic or other enrollment procedure prescribed by the Administrator. 
 ARTICLE 6. 
 PAYROLL DEDUCTIONS 
 Section 6.1. At the time a participant enrolls in the Plan pursuant to Section 5, he or she will elect to have payroll deductions made
on each pay day during the Offering Period in an amount not exceeding ten percent (10%) of the Compensation which he or she receives on each pay day during the Offering Period; provided, however, that should a pay day occur on an Exercise Date,
a participant will have the payroll deductions made on such day applied to his or her account under the subsequent Purchase or Offering Period. A participant’s subscription agreement will remain in effect for successive Offering Periods unless
terminated as provided in Section 10 hereof. 
  

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 Section 6.2. Payroll deductions for a participant will commence on the first pay day
following the Offering Date and will end on the last pay day prior to the Exercise Date of such Offering Period to which such authorization is applicable, unless sooner terminated by the participant as provided in Section 10 hereof, provided,
however, that for the first Offering Period, payroll deductions will commence on the first pay day on or following the end of the Enrollment Window. 
 Section 6.3. All payroll deductions made for a participant will be credited to his or her account under the Plan and will be withheld in whole percentages only. A participant may not make any additional
payments into such account. 
 Section 6.4. A participant may discontinue his or her participation in the Plan as provided in
Section 10, or may increase or decrease the rate of his or her payroll deductions during the Offering Period by (i) properly completing and submitting to the Company’s payroll office (or its designee), on or before a date prescribed
by the Administrator prior to an applicable Exercise Date, a new subscription agreement authorizing the change in payroll deduction rate in the form provided by the Administrator for such purpose, or (ii) following an electronic or other
procedure prescribed by the Administrator; provided, however, that a participant may only make one payroll deduction change during each Purchase Period. If a participant has not followed such procedures to change the rate of payroll deductions, the
rate of his or her payroll deductions will continue at the originally elected rate throughout the Offering Period and future Offering Periods (unless terminated as provided in Section 10). The Administrator may, in its sole discretion, limit
the nature and/or number of payroll deduction rate changes that may be made by participants during any Offering Period. Any change in payroll deduction rate made pursuant to this Section 6(d) will be effective as of the first full payroll
period following five (5) business days after the date on which the change is made by the participant (unless the Administrator, in its sole discretion, elects to process a given change in payroll deduction rate more quickly). 
 Section 6.5. Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of the Code and Section 

3(c), a participant’s payroll deductions may be decreased to zero percent (0%) at any time during a Purchase Period. Subject to Section 423(b)(8) of the Code
and Section 3(c) hereof, payroll deductions will recommence at the rate originally elected by the participant effective as of the beginning of the first Purchase Period which is scheduled to end in the following calendar year, unless terminated
by the participant as provided in Section 10. 
 Section 6.6. At the time the option is exercised, in whole or in part, or
at the time some or all of the Common Stock issued under the Plan is disposed of, the participant must make adequate provision for the Company’s or Employer’s federal, state, or any other tax liability payable to any authority, national
insurance, social security or other tax withholding obligations, if any, which arise upon the exercise of the option or the disposition of the Common Stock. At any time, the Company or the Employer may, but will not be obligated to, withhold from
the participant’s compensation the amount necessary for the Company or the Employer to meet applicable withholding obligations, including any withholding required to make available to the Company or the Employer any tax deductions or benefits
attributable to sale or early disposition of Common Stock by the Eligible Employee. 
  

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 ARTICLE 7. 
 GRANT OF OPTION 
 Section 7.1. On the Offering Date of each Offering Period, each
Eligible Employee participating in such Offering Period will be granted an option to purchase on each Exercise Date during such Offering Period (at the applicable Purchase Price) up to a number of shares of Common Stock determined by dividing such
Eligible Employee’s payroll deductions accumulated prior to such Exercise Date and retained in the Eligible Employee’s account as of the Exercise Date by the applicable Purchase Price; provided that in no event will an Eligible Employee be
permitted to purchase during each Purchase Period more than 2,500 shares of the Common Stock (subject to any adjustment pursuant to Section 19), and provided further that such purchase will be subject to the limitations set forth in
Sections 3(c) and 13. The Eligible Employee may accept the grant of such option with respect to the first Offering Period by submitting a properly completed subscription agreement in accordance with the requirements of Section 5(a) on or
before the last day of the Enrollment Window, and (ii) with respect to any future Offering Period under the Plan, by electing to participate in the Plan in accordance with the requirements of Section 5(b). The Administrator may, for future
Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock that an Eligible Employee may purchase during each Purchase Period of an Offering Period. Exercise of the option will occur as provided
in Section 8, unless the participant has withdrawn pursuant to Section 10. The option will expire on the last day of the Offering Period. 
 ARTICLE 8. 
 EXERCISE OF OPTION 
 Section 8.1. Unless a participant withdraws from the Plan as provided in Section 10, his or her option for the purchase of shares of Common Stock will be exercised automatically on the Exercise Date,
and the maximum number of full shares subject to option will be purchased for such participant at the applicable Purchase Price with the accumulated payroll deductions in his or her account. No fractional shares of Common Stock will be purchased;
any payroll deductions accumulated in a participant’s account which are not sufficient to purchase a full share will be retained in the participant’s account for the subsequent Purchase Period or Offering Period, subject to earlier
withdrawal by the participant as provided in Section 10. Any other funds left over in a participant’s account after the Exercise Date will be returned to the participant. During a participant’s lifetime, a participant’s option to
purchase shares hereunder is exercisable only by him or her. 
 Section 8.2. If the Administrator determines that, on a given
Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed (i) the number of shares of Common Stock that were available for sale under the Plan on the Offering Date of the applicable
Offering Period, or (ii) the number of shares of Common Stock available for sale under the Plan on such Exercise Date, the Administrator may in its sole discretion provide that the Company will make a pro rata allocation of the shares of Common
Stock available for purchase on such Offering Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all participants exercising options to purchase
Common Stock on such Exercise Date, and continue all Offering Periods then in effect or terminate all Offering Periods then in effect pursuant to Section 20. The Company may make a pro rata allocation of the shares available on the Offering
Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company’s stockholders subsequent to such Offering Date. 
  

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 ARTICLE 9. 
 DELIVERY 
 Section 9.1. As soon as reasonably practicable after each Exercise Date on
which a purchase of shares of Common Stock occurs, the Company will arrange the delivery to each participant the shares purchased upon exercise of his or her option in a form determined by the Administrator (in its sole discretion) and pursuant to
rules established by the Administrator. The Company may permit or require that shares be deposited directly with a broker designated by the Company or to a designated agent of the Company, and the Company may utilize electronic or automated methods
of share transfer. The Company may require that shares be retained with such broker or agent for a designated period of time and/or may establish other procedures to permit tracking of disqualifying dispositions of such shares. No participant will
have any voting, dividend, or other stockholder rights with respect to shares of Common Stock subject to any option granted under the Plan until such shares have been purchased and delivered to the participant as provided in this Section 9.

 ARTICLE 10. 
 WITHDRAWAL 
 Section 10.1. A participant may withdraw all but not less than all the payroll deductions credited
to his or her account and not yet used to exercise his or her option under the Plan at any time by (i) submitting to the Company’s payroll office (or its designee) a written notice of withdrawal in the form prescribed by the Administrator
for such purpose, or (ii) following an electronic or other withdrawal procedure prescribed by the Administrator. All of the participant’s payroll deductions credited to his or her account will be paid to such participant promptly after
receipt of notice of withdrawal and such participant’s option for the Offering Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made for such Offering Period. If a participant
withdraws from an Offering Period, payroll deductions will not resume at the beginning of the succeeding Offering Period, unless the participant re-enrolls in the Plan in accordance with the provisions of Section 5. 
 Section 10.2. A participant’s withdrawal from an Offering Period will not have any effect upon his or her eligibility to participate in
any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the participant withdraws. 
 ARTICLE 11. 
 TERMINATION OF
EMPLOYMENT 
 Section 11.1. Upon a participant’s ceasing to be an Eligible Employee, for any reason, he or she will be
deemed to have elected to withdraw from the Plan and the payroll deductions credited to such participant’s account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will be returned to such
participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15, and such participant’s option will be automatically terminated. 
  

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 ARTICLE 12. 
 INTEREST 
 Section 12.1. No interest will accrue on the payroll deductions of a
participant in the Plan. 
 ARTICLE 13. 
 STOCK 
 Section 13.1. Subject to adjustment upon changes in capitalization of the Company
as provided in Section 19 hereof, the maximum number of shares of Common Stock which will be made available for sale under the Plan will be 200,000 shares, plus an annual increase to be added on the first day of each Fiscal Year beginning with
the 2008 Fiscal Year, equal to the least of (i) two percent (2%) of the outstanding shares of Common Stock on such date or (ii) an amount determined by the Administrator. 
 Section 13.2. Until the shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company), a participant will only have the rights of an unsecured creditor with respect to such shares, and no right to vote or receive dividends or any other rights as a stockholder will exist with respect to such shares. 

Section 13.3. Shares of Common Stock to be delivered to a participant under the Plan will be registered in the name of the participant or
in the name of the participant and his or her spouse. 
 ARTICLE 14. 
 ADMINISTRATION 
 Section 14.1. The Plan will be administered by the
Board or a Committee appointed by the Board, which Committee will be constituted to comply with Applicable Laws. The Administrator will have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan, to
determine eligibility and to adjudicate all disputed claims filed under the Plan. Every finding, decision and determination made by the Administrator will, to the full extent permitted by law, be final and binding upon all parties. Notwithstanding
any provision to the contrary in this Plan, the Administrator may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific requirements of local laws and procedures for jurisdictions outside of
the United States. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding eligibility to participate, the definition of Compensation, handling of payroll deductions,
making of contributions to the Plan (including, without limitation, in forms other than payroll deductions), establishment of bank or trust accounts to hold payroll deductions, payment of interest, conversion of local currency, obligations to pay
payroll tax, determination of beneficiary designation requirements, withholding procedures and handling of stock certificates which vary with local requirements. 
  

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 ARTICLE 15. 
 DESIGNATION OF BENEFICIARY 
 Section 15.1. A participant may file a designation of a
beneficiary who is to receive any shares of Common Stock and cash, if any, from the participant’s account under the Plan in the event of such participant’s death subsequent to an Exercise Date on which the option is exercised but prior to
delivery to such participant of such shares and cash. In addition, a participant may file a designation of a beneficiary who is to receive any cash from the participant’s account under the Plan in the event of such participant’s death
prior to exercise of the option. If a participant is married and the designated beneficiary is not the spouse, spousal consent will be required for such designation to be effective. 
 Section 15.2. Such designation of beneficiary may be changed by the participant at any time by notice in a form determined by the
Administrator. In the event of the death of a participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such participant’s death, the Company will deliver such shares anchor cash to the
executor or administrator of the estate of the participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one
or more dependents or relatives of the participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 
 Section 15.3. All beneficiary designations will be in such form and manner as the Administrator may designate from time to time. 

ARTICLE 16. 
 TRANSFERABILITY

 Section 16.1. Neither payroll deductions credited to a participant’s account nor any rights with regard to the
exercise of an option or to receive shares of Common Stock under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 15 hereof)
by the participant. Any such attempt at assignment, transfer, pledge or other disposition will be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering Period in accordance with Section 10
hereof. 
 ARTICLE 17. 
 USE OF FUNDS 
 Section 17.1. The Company may use all payroll deductions received or held by it under the Plan
for any corporate purpose, and the Company will not be obligated to segregate such payroll deductions. Until shares of Common Stock are issued, participants will only have the rights of an unsecured creditor with respect to such shares. 

 

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 ARTICLE 18. 
 REPORTS 
 Section 18.1. Individual accounts will be maintained for each participant in
the Plan. Statements of account will be given to participating Eligible Employees at least annually, which statements will set forth the amounts of payroll deductions, the Purchase Price, the number of shares of Common Stock purchased and the
remaining cash balance, if any. 
 ARTICLE 19. 
 ADJUSTMENTS, DISSOLUTION, LIQUIDATION, 
 MERGER OR CHANGE IN CONTROL 
 Section 19.1. Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Common Stock, other securities,
or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Common Stock or other securities of the Company, or other change in the
corporate structure of the Company affecting the Common Stock such that an adjustment is determined by the Administrator (in its sole discretion) to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits
intended to be made available under the Plan, then the Administrator will, in such manner as it may deem equitable, adjust the number and class of Common Stock which may be delivered under the Plan, the Purchase Price per share and the number of
shares of Common Stock covered by each option under the Plan which has not yet been exercised, and the numerical limits of Sections 7 and 13. 
 Section 19.2. Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, any Offering Period then in progress will be shortened by setting a new Exercise Date (the “New Exercise
Date”), and will terminate immediately prior to the consummation of such proposed dissolution or liquidation, unless provided otherwise by the Administrator. The New Exercise Date will be before the date of the Company’s proposed
dissolution or liquidation. The Administrator will notify each participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the participant’s option has been changed to the New Exercise
Date and that the participant’s option will be exercised automatically on the New Exercise Date, unless prior to such date the participant has withdrawn from the Offering Period as provided in Section 10 hereof. 
 Section 19.3. Merger or Change in Control. In the event of a merger or Change in Control, each outstanding option will be assumed or an
equivalent option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the option, the Offering Period with respect to which
such option relates will be shortened by setting a new Exercise Date (the “New Exercise Date”) and will end on the New Exercise Date. The New Exercise Date will occur before the date of the Company’s proposed merger or Change in
Control. The Administrator will notify each participant in writing prior to the New Exercise Date, that the Exercise Date for the participant’s option has been changed to the New Exercise Date and that the participant’s option will be
exercised automatically on the New Exercise Date, unless prior to such date the participant has withdrawn from the Offering Period as provided in Section 10 hereof. 
  

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 ARTICLE 20. 
 AMENDMENT OR TERMINATION 
 Section 20.1. The Administrator, in its sole discretion, may
amend, suspend, or terminate the Plan, or any part thereof, at any time and for any reason. If the Plan is terminated, the Administrator, in its discretion, may elect to terminate all outstanding Offering Periods either immediately or upon
completion of the purchase of shares of Common Stock on the next Exercise Date (which may be sooner than originally scheduled, if determined by the Administrator in its discretion), or may elect to permit Offering Periods to expire in accordance
with their terms (and subject to any adjustment pursuant to Section 19). If the Offering Periods are terminated prior to expiration, all amounts then credited to participants’ accounts which have not been used to purchase shares of Common
Stock will be returned to the participants (without interest thereon, except as otherwise required under local laws) as soon as administratively practicable. 
 Section 20.2. Without stockholder consent and without limiting Section 20(a), the Administrator will be entitled to change the Offering Periods, limit the frequency and/or number of changes in the
amount withheld during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a participant in order to adjust for
delays or mistakes in the Company’s processing of properly completed withholding elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of
Common Stock for each participant properly correspond with amounts withheld from the participant’s Compensation, and establish such other limitations or procedures as the Administrator determines in its sole discretion advisable which are
consistent with the Plan. 
 Section 20.3. In the event the Administrator determines that the ongoing operation of the Plan may
result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the extent necessary or desirable, modify, amend or terminate the Plan to reduce or eliminate such accounting consequence including, but not
limited to: 
 (a) amending the Plan to conform with the safe harbor definition under Statement of Financial Accounting Standards

 123(R), including with respect to an Offering Period underway at the time; 
 (b) altering the Purchase Price for any Offering Period including an Offering Period underway at the time of the change in Purchase Price; 
 (c) shortening any Offering Period so that Offering Period ends on a new Exercise Date, including an Offering Period underway at the time of the
Board action; 
 (d) reducing the maximum percentage of Compensation a participant may elect to set aside as payroll deductions; and

 (e) reducing the maximum number of Shares a participant may purchase during any Offering Period or Purchase Period. 
 Such modifications or amendments will not require stockholder approval or the consent of any Plan participants. 
  

 12 

 ARTICLE 21. 
 NOTICES 
 Section 21.1. All notices or other communications by a participant to the
Company under or in connection with the Plan will be deemed to have been duly given when received in the form and manner specified by the Company at the location, or by the person, designated by the Company for the receipt thereof 
 ARTICLE 22. 
 CONDITIONS ON ISSUANCE
OF SHARES 
 Section 22.1. Shares of Common Stock will not be issued with respect to an option unless the exercise of such
option and the issuance and delivery of such shares pursuant thereto will comply with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and
regulations promulgated thereunder, and the requirements of any stock exchange upon which the shares may then be listed, and will be further subject to the approval of counsel for the Company with respect to such compliance. 
 Section 22.2. As a condition to the exercise of an option, the Company may require the person exercising such option to represent and warrant
at the time of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation is required by any of
the aforementioned applicable provisions of law. 
 ARTICLE 23. 
 TERM OF PLAN 
 Section 23.1. The Plan will become effective upon the
earlier to occur of its adoption by the Board or its approval by the stockholders of the Company. It will continue in effect for a term of twenty (20) years, unless sooner terminated under Section 20. 
 ARTICLE 24. 
 STOCKHOLDER APPROVAL

 Section 24.1. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months after
the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 
 ARTICLE 25. 
 AUTOMATIC TRANSFER TO LOW PRICE OFFERING PERIOD 
 Section 25.1. To the extent permitted by Applicable Laws, if the Fair Market Value of the Common Stock on any Exercise Date in an Offering
Period is lower than the Fair Market Value of 

  

 13 

 
the Common Stock on the Offering Date of such Offering Period, then all participants in such Offering Period will be automatically withdrawn from such
Offering Period immediately after the exercise of their option on such Exercise Date and automatically re-enrolled in the immediately following Offering Period. 
  

 14 

 EXHIBIT A 
 DEVAX, INC. 
 2007 EMPLOYEE STOCK PURCHASE PLAN 
 SUBSCRIPTION AGREEMENT 
              Original Application Offering Date:
                             
              Change in Payroll Deduction Rate 
              Change of Beneficiary(ies) 
  

	1.	                            
hereby elects to participate in the Devax, Inc. 2007 Employee Stock Purchase Plan (the “Plan”) and subscribes to purchase shares of the Company’s Common Stock in accordance with this Subscription Agreement and the Plan.

  

	2.	I hereby authorize payroll deductions from each paycheck in the amount of         % of my Compensation on each payday (from 0 to 15%)
during the Offering Period in accordance with the Plan. (Please note that no fractional percentages are permitted.) 

  

	3.	I understand that said payroll deductions will be accumulated for the purchase of shares of Common Stock at the applicable Purchase Price determined in accordance with the Plan. I
understand that if I do not withdraw from an Offering Period, any accumulated payroll deductions will be used to automatically exercise my option and purchase Common Stock under the Plan. 

  

	4.	I have received a copy of the complete Plan and its accompanying prospectus. I understand that my participation in the Plan is in all respects subject to the terms of the Plan.

  

	5.	Shares of Common Stock purchased for me under the Plan should be issued in the names of Eligible Employee or Eligible Employee and Spouse only. 

  

	6.	 I understand that if I dispose of any shares received by me pursuant to the Employee Stock Purchase Plan within two (2) years after the Offering Date (the
first day of the Offering Period during which I purchased such shares) or one (1) year after the Exercise Date, I will be treated for federal income tax purposes as having received ordinary income at the time of such disposition in an amount
equal to the excess of the fair market value of the shares at the time such shares were purchased by me over the price which I paid for the shares. I hereby agree to notify the Company in writing within thirty (30) days after the date of any
disposition of my shares and I will make adequate provision for Federal, state or other tax withholding obligations, if any, which arise upon the disposition of the Common Stock. The Company may, but will not be obligated to, withhold from my
compensation the amount necessary to meet any applicable withholding obligation including any withholding necessary to make available to the Company any tax deductions or benefits attributable to sale or early disposition of Common Stock by me. If I
dispose of such shares at any time after the expiration of the two (2)-year and one (1)-year holding periods, I understand that I will be treated for federal income tax purposes as having received income only at the time of such disposition, and
that such income will be taxed as ordinary income only to the extent of an amount equal to the lesser of (a) the excess of the fair market value of the shares at the time 

  

 A-1 

 
of such disposition over the purchase price which I paid for the shares, or (b) 15% of the fair market value of the shares on the first day of the
Offering Period. The remainder of the gain, if any, recognized on such disposition will be taxed as capital gain. 
  

	7.	I hereby agree to be bound by the terms of the Plan. The effectiveness of this Subscription Agreement is dependent upon my eligibility to participate in the Plan.

  

	8.	In the event of my death, I hereby designate the following as my beneficiary(ies) to receive all payments and shares due me under the Employee Stock Purchase Plan:

  

							
	NAME: (Please print)	  	  

		  	(First)	  	(Middle)	  	(Last)
				
	  
	  		  		  	
	Relationship	  		  		  	
		
	  
	  	  

	Percentage Benefit	  	(Address)
		
	NAME: (please print)	  	  

		  	(First)	  	(Middle)	  	(Last)
				
	  
	  		  		  	
	Relationship	  		  		  	
		
	  
	  	  

	Percentage Benefit	  	(Address)
		
	Employee’s Social Security Number:	  	  

			
	Employee’s Address:	  		  	  

		  	  
  

	
	 I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT WILL REMAIN IN EFFECT THROUGHOUT SUCCESSIVE OFFERING PERIODS UNLESS TERMINATED BY
ME.

				
	Dated:                             	  		  	  
	  	
		  		  	Signature of Employee	  	
		  		  	  
  
	  	
		  		  	Spouse’s Signature (If beneficiary other than spouse)	  	

  

 A-2 

 EXHIBIT B 
 DEVAX, INC. 
 2007 EMPLOYEE STOCK PURCHASE PLAN 
 NOTICE OF WITHDRAWAL 
 The undersigned
participant in the Offering Period of the Devax, Inc. 2007 Employee Stock Purchase Plan that began on
                            ,
             (the “Offering Date”) hereby notifies the Company that he or she hereby withdraws from the Offering Period. He or she hereby directs the Company to pay
to the undersigned as promptly as practicable all the payroll deductions credited to his or her account with respect to such Offering Period. The undersigned understands and agrees that his or her option for such Offering Period will be
automatically terminated. The undersigned understands further that no further payroll deductions will be made for the purchase of shares in the current Offering Period and the undersigned will be eligible to participate in succeeding Offering
Periods only by delivering to the Company a new Subscription Agreement. 
  

	
	 Name and Address of Participant:

	  
  

	  
  

	  
  

	
	 Signature:

	
	  

			
		
	 Date:
	 	  

  

 B-1Amended and Restated Patent and Know-How Exclusive License Agreement

 Exhibit 10.6 
 AMENDED AND RESTATED PATENT AND KNOW-HOW 
 EXCLUSIVE LICENSE AGREEMENT 
 AS BETWEEN THE UNDERSIGNED: 
 Mr. Jacques SEGUIN

 Mr. Jean-Claude LABORDE 
 Hereinafter
designated together as the “GRANTORS” 
 AND: 
 DEVAX Inc., a Delaware corporation 
 Hereinafter designated as the “LICENSEE”. 
 BACKGROUND: 
 Mr. Jacques SEGUIN and Jean-Claude LABORDE are joint title owners of a patent issued on November 20, 1998 by the National Institute of Industrial Property of France, under the number 96 07245, entitled
“Device permitting the treatment of bodily conducts at the level of a bifurcation” (“Underlying Patent”)1 
 It was published in the Official Bulletin of Industrial Property
of France N# 98/47, November 20, 1998.2 
 The Underlying Patent is for the invention of a medical device called a “bifurcated stent” specially conceived for treating cardiovascular
illnesses which require an intervention at the level of branching blood vessels. 
 A patent application was filed with the United States
Patent and Trademarks Office on April 3, 1998 under application number 09/011,214 (“U.S. Patent Application”). 
 A patent application was filed under PCT/FR97/00999, under the following title:
“Endoprosthesis for vascular bifurcation” and a patent application was filed having International Application No. PCT/EP2002/012509, titled “Endoprosthesis for Vascular Bifurcation” (collectively “the PCT Patent
Applications”).3 
 Other patent applications related to the Underlying Patent and PCT Patent Application were filed before the European Union, Canada, Japan and the South African Union and are presently pending (“Other Patent
Applications”). 

	 1
	 Dispositif permettant le treatment de conduits corporels au niveau d'une bifurcation, Institut National
de la Propriete Industrielle, brevet n# 96 07245 

  

	 2
	 Bulletin Officiel de k Propriete Industrielle n3 98/47 du 20 novembre 1998.

  

	 3
	 “Endoprothese pour bifurcation vasculaire” 

 Licensee has been organized under the laws of the State of Delaware (USA) for the purpose of, among other
things, research, development and marketing of medical devices including those based on the Licensed Technology and the Grantors desire to grant to Licensee the present exclusive license, according to the terms set forth below. 
 A Patent and Know-How Exclusive License Agreement was entered by and between the Grantors and the Licensee on August 18, 1999 (the “Effective
Date”). 
 The parties now wish to amend and restate the Patent and Know-How Exclusive License Agreement as of April 30, 2007.

 IT IS AGREED THAT: 
 DEFINITIONS 
 “Licensed Patents” means: (a) Underlying Patent; (b) the U.S. Patent Application,
the PCT Patent Application and the Other Patent Applications; (c) any and all corresponding foreign patent applications based on the Underlying Patent or PCT Patent Application, the U.S. Patent Application or the Other Patent Applications,
whether now existing or hereafter filed; (d) any divisionals, reissues, continuations, continuations-in-part, or substitute applications and inventors’ certificates arising from, or based upon, any of the foregoing patents and patent
applications and any other patent applications claiming priority to any to the foregoing patents or patent applications or any other patents or patent applications referenced in this definition; (e) any patents issuing from any of the
foregoing; and (f) any reissues, re-examinations, renewals, extensions and supplemental protection certificates of any of the foregoing. 
 “Grantors.” “Grantors” are Mr. Jacques Seguin and Mr. Jean-Claude Laborde, each referred to herein as a “Grantor.” 
 “Licensed Technology.” “Licensed Technology” means the Licensed Patents and the Know-How. 
 “Know How.” “Know-How” means (a) the Bifurcated Stent Technology and (b) all information, and data which is not generally known, including (without limitation) formulae, designs,
procedures, protocols, techniques and results of experimentation and testing, which is necessary or useful to make, use, sell, develop or seek regulatory approval in any country to market the Licensed Products. For the avoidance of doubt,
“Know-How” does not include any technology or intellectual property assigned by Mr. Seguin to Licensee pursuant to the Technology Transfer Agreement dated September 2, 1999. 
 “Bifurcated Stent Technology.” “Bifurcated Stent Technology” means (a) all ideas, abstracts, diagrams, designs,
improvements, inventions, modification, know-how, trade secrets, data, prototypes, techniques, and plans and any other proprietary rights (the “Proprietary Rights”) as set forth or described in the document titled “Description of the
Development of the Bifurcated Stent and any attachments thereto, a copy of which is attached hereto as Exhibit A (the “Bifurcated Stent Description”) and (b) all Proprietary Rights arising out of any animal studies or other
experiments described in the Bifurcated Stent Description; excluding, however, the Licensed Patents. 
  

 2 

 “Licensed Product.” “Licensed Product” means any product or device based upon
or comprising the Licensed Patents and developed by Licensee, its affiliates or sublicensees that, when made, used or sold would, but for the rights granted to Licensee hereunder constitute an infringement of a Valid Claim in the country in which
such manufacture, use or sale occurs. 
 “Valid Claim.” “Valid Claim” means a claim of an issued patent within the
Licensed Patents which claim has not lapsed, been cancelled, or become abandoned, has not been declared invalid by a final judgment of a court of competent jurisdiction from which no appeal can be or is taken, and has not been admitted to be invalid
or unenforceable through reissue or disclaimer. 
 “Net Sales.” ‘Net Sales” means the gross revenue derived by
Licensee, its affiliates and sublicensee from sales of Licensed Products to customers who are not affiliates, less: 
 (a) prompt payment or
other trade or quantity discounts as are customary in the trade; 
 (b) commissions paid or allowed to distributors and agents who are
independent third parties (and not affiliates); 
 (c) amounts repaid or credited by reason of rejections or returns of Licensed Products;

 (d) taxes, customs duties and other governmental charges actually paid or withheld; 
 (e) allowances actually granted, including any allowances for bad debt, provided that upon the extinguishment of any such allowance, the extinguishment
will be determined to be a receipt; and 
 (f) transportation and delivery charges, including insurance premiums, actually incurred.

 In the event that a product sold by Licensee, its affiliates or sublicensees is comprised in part of a Licensed Product and in part done
or more other products or devices, Net Sales shall be determined by multiplying the amount calculated pursuant to the immediately preceding paragraph for such combination product by the Combination Allocated Portion (as defined below). The
“Combination Allocated Portion” shall mean a fraction, the numerator of which is the average selling price of the Licensed Product included in such combination product and the denominator which is the sum of the average selling price of
such Licensed Product and the average selling price of the other products or devices that are part of such combination product. In the event that the average selling price for a product is not available, then the fair market value for the product
shall be used instead. 
 TERMINATION OF PRIOR AGREEMENTS 
 That certain license agreement dated August 18, 1999, between the Grantors and DEVAX S.A. (a French Company) (the “Prior Agreement”) shall
be superseded and replaced in its entirety by this Agreement and the Prior Agreement shall be of no further force or effect. 
 ARTICLE 1.

 NATURE AND EXTENT OF THE LICENSE 
 The Grantors hereby grant to the Licensee and its affiliates, and the Licensee and its affiliates hereby accept, an exclusive worldwide license under the Licensed Technology (the “License”) for any and all
purposes. 
  

 3 

 The License shall be exclusive even as to the Grantors and the License rights shall include, without
limitation, the right to make, have made, use, import or sell and offer for sale the Licensed Products or any other product based on the Licensed Technology. 
 The Grantors relinquish the right to directly exploit or grant to a third party any rights to the Licensed Technology during the validity of the present agreement. 
 ARTICLE 2. 
 SUB-LICENSES

 The License shall include the right to grant sublicenses and the Licensee shall be free to make, have made, use, import, sell or offer
for sale any products covered by the Licensed Technology either directly or through its affiliates, sublicenses, agents, distributor or any other means it deems appropriate. 
 ARTICLE 3. 
 TECHNICAL ASSISTANCE 
 The Grantors agree, at the request of Licensee, to provide the Licensee without charge technical assistance to commence the exploitation of the Licensed
Technology for a term of one (1) year starting from the Effective Date. Reasonable travel, living, and accommodation expenses, incurred by the Grantors engaged in this capacity will be borne by the Licensee. Any work or other product
Proprietary Rights resulting or otherwise arising out of any technical assistance or work performed for or on behalf of the Licensee by Grantor under this Agreement shall be assigned to and owned by the Licensee for the purpose of clarification,
except as specifically set forth in Article 7 of this Agreement or any other contract or agreement that may be entered between the Licensee and a Grantor, each Grantor shall own all Proprietary Rights resulting or otherwise arising out of any
ideas, inventions or work that Grantor has developed or conceived independent of the Company and outside the scope of this Agreement. 
 Beyond this one (1) year period, the Grantors will provide, upon the request of Licensee, and in a manner consistent with their other professional obligations, technical assistance, for which their compensation shall be determined on a
case by case basis, and reasonable food, travel and lodging expenses incurred in this capacity shall be borne by the Licensee. 
 ARTICLE
4. 
 CONFIDENTIALITY 
 4.1 Confidential Information. Each party hereunder shall maintain the secret and confidential nature of all technical documents, information and studies related to the Licensed Technology and any other
Proprietary Rights of the other party for so long as (a) such information was not in the public domain before its communication to the other party; (b) such information subsequently entered into the public domain after its communication to
the receiving party (through no fault of the receiving party); (c) such information was not known lawfully by the receiving party prior to its communication; (d) such information was not received by a third party in a lawful manner without
any restrictions on its disclosure; or (e) the disclosure of such information was not authorized by the other party. 
  

 4 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 
 4.2 Employee
Agents. Each party is responsible to ensure that its employees, agents, affiliates and sublicensees observe and comply with the confidentiality obligations of this Article 4. 
 4.3 Survival of Confidentiality Obligations. The confidentiality obligations shall remain in effect after the termination of this
Agreement. 
 ARTICLE 5. 
 COMMERCIALIZATION 
 The Licensee shall take all commercially reasonable steps to effectively exploit the Licensed Technology
and commercialize the Licensed Products. The Licensee shall use commercially reasonable efforts to promptly avail itself of funds necessary to develop the Licensed Products and gain regulatory approval for marketing of the Licensed Products. For
avoidance of doubt, the parties agree that this Article 5 does not require Licensee to exploit each and every Licensed Technology or to commercialize each and every Licensed Product but only those Licensee in good faith determines to commercialize.

 ARTICLE 6. 
 FINANCIAL
CONDITIONS 
 The license is subject to the following financial conditions: 
 6.1 Royalty Payments. The Licensee will pay the Grantors royalty fees based as follows: 
 (a) [***] of the Net Sales of all Licensed Products sold by Licensee, its affiliates and its sublicensees in any country where the
manufacture, use or sale of such Licensed Product would absent the License grant set forth herein, infringe on Valid Claims of Licensed Patent; the royalty provision under this Section 6.1(a) shall be applicable until the total royalty fees
paid or payable to Grantors under this Section 6.1(a) have reached [***]; and 
 (b) Once the aggregate royalty
fees pursuant to Section 6.1(a) has reached [***], the total royalty rate [***] of the Net Sales of all Licensed Products sold by Licensee, its affiliates and it sublicensees in any country where the manufacture, use or sale of
such Licensed Product would absent the License grant set forth herein, infringe on Valid Claims of Licensed Patent. 
 6.2 Due Date. The licensee will calculate and pay the Grantors the royalty
fees above on a quarterly basis, within thirty (30) days of the end of each payable quarter and payable on or prior to the 30th day of the months of January, April, July, and October, by check to the order of Mr. Jacques Seguin and Mr. Jean-Claude Laborde. 
 All royalty fees earned and not paid by such due date will bear interest at the rate of [***] until paid, without prejudice to the Grantors’ right to terminate the License as provided for in
Section 12.5. 
  

 5 

 6.3 Accounting. If and when, Licensee develops commercial applications for the
Licensed Technology, and subsequently sells a Licensed Product, Licensee will keep, and will cause its affiliates and/or sublicensees to keep, complete an accurate records pertaining to the sale of Licensed Products in sufficient detail to permit
Grantors to confirm the accuracy of calculations of all payments hereunder. Such records will be maintained for a two (2) year period following the year in which any such payments were made hereunder. No more frequently than once a year,
Grantors will have the right to engage, at its own expense, an independent, certified public account reasonably acceptable to Licensee, to examine Licensee’s records from time to time as may be necessary to determine, with respect to any
calendar year, the correctness of any report or of payment made under this Agreement. Grantor shall treat all financial information subject to review under this Section 6.3 or 6.4 or under any sublicense agreement as confidential, and shall
cause its accounting firm and other agents to retain all such financial information in strict confidence under Article 4, above. 
 6.4 Reports. Beginning with the first sale of a Licensed Product, Licensee shall provide written reports of the earned royalty payments to Grantors within thirty (30) days after the end of each calendar
quarter. This report shall state the number, description and aggregate Net Sales of Licensed Products during such completed calendar quarter and resulting calculation pursuant to Section 6.1 of earned royalty due to Grantors for such completed
calendar quarter. Concurrent with the making of each such report, Licensee shall include the payment due to Grantors of royalty fees for the calendar quarter covered by such report. 
 6.5 Payments in U.S. Dollar. The remittance of any and all royalty fees shall be payable to Grantors in United States Dollars. Net
Sales in foreign currency shall be converted into U.S. Dollars at the official rate of exchange of the currency of the country from which the royalties are payable, as quoted by the Wall Street Journal for the last business day of the calendar
quarter in which the royalties are payable. If the conversion into the U.S. Dollars of any such remittance in any such instance is not lawful or reasonably possible, the payment of such royalties shall be made by the deposit thereof, in the currency
of the country where the sale was made, to the credit and account of Grantors or its nominee in any commercial bank or trust company of Grantors’ choice located in that country, prompt notice of which shall be given by License to Grantors.

 ARTICLE 7. 
 UPHOLDING
OF THE PATENT RIGHTS 
 AND OTHER PROPRIETARY RIGHTS 
 7.1 Ownership. Licensee acknowledges and agrees that Grantors are and shall remain the sole owners of the Licensed Technology
which name Grantors as the sole inventors and that Licensee has no rights in or to the Licensed Technology which name Grantors as the sole inventors other than the License and other rights specifically granted herein. 
 7.2 Filing, Prosecution and Maintenance of Patents. Licensee shall have the sole and exclusive right, but not the obligation, to
file, prosecute and maintain all patent applications in the Licensed Patents and to pursue and comply with all requirements and activities Licensee deems necessary to receive issuance of patents from such applications. Licensee shall be responsible
for all costs, fees and expenses incurred from and after the Effective Date in connection with the filing, prosecution and maintenance of such patent applications and the maintenance of any patents issuing therefrom. 
  

 6 

 7.3 Prosecution Assistance. Grantors shall provide all the assistance as
reasonably requested by Licensee to aid Licensee in its efforts and activities as set forth in this Article 7. Licensee shall pay Grantors for the reasonable labor and material costs of such assistance providing that all such costs are
pre-approved by Licensee in writing. 
 7.4 Patent Enforcement. Licensee shall have the sole and exclusive right, but
not the obligation, to enforce the Licensed Patents in infringement, interference or other proceedings and to file suit in its own name and in the forum of Licensee’s choice. As such, Licensee shall have the sole and exclusive right to settle
and compromise any such controversy with third parties on terms that it, in its sole discretion, deems proper. Grantors will cooperate with Licensee, at Licensee’s request, in enforcing the Licensed Patents, including joining Licensee as a
party to a suit or action if requested by Licensee. The parties hereto agree that all costs, fees and/or expenses incurred in connection with enforcement of the Licensed Patents shall be borne by Licensee. To the extent that damages are awarded to
Licensee for any infringement and/or to the extent that monies are paid to Licensee by way of settlement of a claim for any infringement, such damages and/or monies shall be retained solely by Licensee, provided that any amounts remaining after
reimbursement to Licensee of its costs and expenses will be considered Net Sales Revenue for purposes hereunder. 
 7.5
Third Party Infringement Claims. In the event any Licensed Product becomes the subject of a claim for patent or other proprietary right infringement anywhere in the world by virtue of the incorporation of the Licensed Technology therein, the
Parties shall promptly give notice to the other. Licensee shall have the exclusive right to conduct the defense of any such suit brought against Licensee, provided, however, if requested by Licensee, that Grantor shall cooperate with Licensee in the
defense and participate in any such suit, at Licensee’s expense. Neither party shall enter into any settlement that affects the other party’s rights or interests without such other party’s written consent. In the event that Licensee,
or its affiliate or sublicensee is required to pay a third party a royalty because the manufacture, use or sale of a Licensed Product infringes such third party’s patent or other intellectual property right, then Licensee may deduct 50% of such
royalty payment to such third party from the royalties owed by Licensee to Grantor under Section 6.1 based on sale of such Licensed Product. 
 7.6 Patent Indemnity. Licensee shall indemnify and hold Grantor harmless from and will defend against any action brought against Grantor to the extent that it is based on a claim that the manufacture, use or
sale of a Licensed Product infringes any patent or other proprietary rights of any third party (except for claims that the Licensed Technology was misappropriated by Grantor or its agents). Grantor shall cooperate with and shall provide all
reasonable assistance to the Licensee in the defense of such action. 
 ARTICLE 8. 
 REPRESENTATIONS AND WARRANTIES 
 8.1 Grantors represents and warranties: 
 (a) Patent Ownership. Each Grantor represents and warrants that:

 (i) It has not granted any license under the Licensed Technology except to Licensee pursuant to this Agreement or the
Prior Agreements, and is under no obligation to grant any such license; 
  

 7 

 (ii) Together with the other Grantor, or the other Grantor and Licensee, he is the owner
of the entire right, title and interest in and to the Licensed Technology; 
 (iii) There are no outstanding liens,
encumbrances, agreements or understandings of any kind, either written, oral or implied which are inconsistent or conflict with any provision of this Agreement; and 
 (iv) He has disclosed and will continue to promptly disclose to Licensee all material information relating to the Licensed Technology,
and has authorized Licensee’s patent counsel to discuss any issues relating to Licensed Patents. 
 (b) Patent
Proceedings. Each Grantor represents and warrants that to the best of his knowledge, no patent application within the Licensed Patent is the subject of any pending interference, opposition, cancellation or other protest proceeding. 

(c) Knowledge of Third Party Patents. Each Grantor represents and warrants that he has no knowledge of any foreign or domestic
patent or patent application which is reasonably expected by Grantor to restrict Licensee from manufacturing, using or selling any Licensed Product. 
 (d) Grantor Authorization. Each Grantor represents and warrants that he has the full authority and capability to execute and perform this Agreement, and such execution and performance is not inconsistent with
any agreement or arrangement it has with any third party or any rules or regulations applicable to him. 
 8.2 Licensee
Representation and Warranty. Licensee represents and warrants that it has the authority and capability to execute and perform this Agreement, and such execution and performance will not violate any restriction obtained in any law or regulation,
or in any agreement between Licensee and any third person. 
 ARTICLE 9. 
 IMPROVEMENTS 
 Any improvements made by, conceived or created solely by Jean
Claude Laborde after the Effective Date shall be owned by Jean Claude Laborde. “Improvements” for the purposes hereunder shall be defined as any inventions, discoveries, designs, or other Proprietary Rights, whether or not patentable,
which is (i) not covered by a Valid Claim under any Licensed Patents, (ii) not Licensed Technology, and (iii) not otherwise assigned or assignable to Licensee pursuant to Article 3 of this Agreement. The Licensee shall have the
right of first offer to negotiate the terms of a license or any other rights for any Improvements made by, conceived or created by Jean Claude Laborde. Licensee may elect to at its own cost and expense file patent applications in the name of Jean
Claude Laborde covering the Improvements made by Jean Claude Laborde. If such Improvements are not patentable, such Improvements shall be included in the definition of Know-How for the purposes hereunder without any additional fees. If the
Improvements are patentable and Licensee desires to use or other have rights to such Improvements, then Licensee and Jean Claude Laborde shall promptly notify Licensee of any Improvements related to the Bifurcated Stent Technology or useful for the
purpose of developing, manufacturing or marketing any bifurcated stent device or related delivery system. 
  

 8 

 ARTICLE 10. 
 NULLITY 
 Should the Licensed Patents be declared null and void in its entirety by a definite court
ruling, the Licensee shall not make a claim against the Grantors for any damages, reimbursement of licensing fees already paid to Grantors, provided, however, such ruling is not based or related to Grantor’s breach of the representations under
this Agreement. 
 ARTICLE 11. 
 EUROPEAN COMMUNITY LAW 
 If one of the clauses on the contract were to be contrary to European Union law, the parties shall
proceed without delay to the necessary modifications, respecting in all other measures, the intent of the parties existing at the time of the signature of the present contract. All other clauses of the contract will remain in full force and effect.

 ARTICLE 12. 
 TERM;
TERMINATION 
 12.1 Term. This Agreement will commence as of the Effective Date of this Agreement and, unless
sooner terminated as provided hereunder, will terminate upon the later of (a) eight (8) years from the first commercial sale of any Licensed Product; or (b) the date of expiration of the last to expire patent of the Licensed Patents.

 12.2 Default. The term “Default” shall, with respect to either party, mean any of the following events
occurring during the Term: 
 (a) Any material breach of this Agreement consisting of the failure to make a payment required
hereunder, which breach remains uncured after sixty (60) days notice specifying the amount then due; 
 (b) Any material
nonfinancial breach of this Agreement, which breach remains uncured after ninety (90) days notice specifying the nature of the breach; or 
 (c) The commencement of bankruptcy proceedings, dissolution or liquidation by or against either party. 
 12.3 Termination by Licensee Without Cause. Licensee will have the right to terminate this Agreement, for any reason, upon six (6) months’ written notice to Grantors. In the event of such termination,
Licensee will pay Grantors any and all accrued payments due to Grantors through the effective date of termination. 
 12.4
Termination by Licensee. In the event of a Default by Grantors, Licensee may at its election (without prejudice to any other legal or equitable remedies that Licensee may have), exercisable upon notice to Grantors, either (i) terminate
this Agreement, or (ii) continue to exploit commercially the License, but thereafter the Licensee’s obligations under this Agreement shall be limited solely to those royalty payment obligations arising under this Agreement as set forth in
Sections 6.1. 
  

 9 

 12.5 Termination by Grantors. In the event of a Default by Licensee, Grantors may
at its election (without prejudice to any other legal or equitable remedies that Grantors may have), exercisable upon notice to Licensee, declare the License immediately terminated, in which event Licensee shall forfeit entirely all rights and
interest in and to the Licensed Technology (including, without limitation, all Licensed Patents), and this Agreement shall terminate. Notwithstanding the foregoing, if a Default is based on Licensee’s failure to comply with Article 5, Grantors
shall provide at least six months’ prior written notice of such Default to Licensee and shall only have the right to terminate if any such Default is not cured or waived within such six month period and then only with respect to the licenses
for any Licensed Technology not being exploited or commercialized at such time as to which a Default was earlier declared, and not the entire License or this entire Agreement. 
 12.6 Sublicenses. Upon termination of this Agreement for Default of Licensee, notwithstanding any other language contained in this
Agreement, any and all sublicenses granted by Licensee prior to such termination shall automatically be assigned to Grantor, shall continue in effect in accordance with their terms, and shall thereafter (during the respective terms of such
sublicenses) be subject in all respects to the provisions of this Agreement, in addition to any provisions contained in such sublicenses. 
 12.7 Return of Material. In the event of a termination under Section 12.5, the Licensee will remit within thirty (30) days of such termination date, all documents in its possession of any nature
relating to the Licensed Patents and Know-How. 
 ARTICLE 13. 
 INVENTORY AT TERM OF CONTRACT 
 In the event of termination, the Licensee shall
be obligated to sell the Licensed Products after an inventory is taken in the presence of the parties. The unsold Licensed Product at the expiration of a six (6) month following the termination of this agreement shall be destroyed at
Licensee’s expense, in the presence of Grantors, or their duly appointed representatives. 
 ARTICLE 14. 
 ASSIGNMENT 
 Except as otherwise
provided herein, neither this Agreement nor any interest hereunder will be assignable in part or in whole by any party without the prior written consent of the other; provided, however, that Licensee may assign this Agreement, in whole or in part,
to any of its affiliates or to any successor in interest by merger, sale or other acquisition (including the assignee of all or substantially all of its assets), or to its sublicensees. In the event of such assignment, this Agreement shall, to the
extent of the interest transferred, automatically be binding upon and insure to the benefit of such assignees and successors in interest, and such assignees shall be required to undertake in writing (a copy of which is to be provided to Grantors) to
perform this Agreement in accordance with their applicable responsibilities hereunder. 
 ARTICLE 15. 
 INTENTIONALLY OMITTED 
  

 10 

 ARTICLE 16. 
 NOTICES 
 Any notice to be given under this Agreement shall be in writing and shall be presumptively
deemed given (i) when personally delivered; (ii) when sent by facsimile, with confirmation of receipt; (iii) one (1) business day if domestic, or three (3) business days if international, after having been sent by commercial
overnight courier with written verification of receipt; or (iv) five (5) business days after having been sent by first class mail, proper postage prepaid. All such notices shall be addressed to the receiving party at the address or
addresses set forth below or at such other addresses as either party may specify from time to time by written notice in accordance herewith. 
 If to Licensee: 
 Devax, Inc. 
 20966 Bake Parkway, Suite 106 
 Lake Forest, CA 92630 
 Attention:
                                 
 Fax:
                                        

 If to Grantors: 
 Jacques Seguin, M.D., Ph.D. 
 _______________________ 
 _______________________ 
 Fax: ____________________ 
 Jean-Claude Laborde, M.D. 
 _______________________ 
 _______________________ 
 Fax: ____________________ 
 ARTICLE 17. 
 MISCELLANEOUS
PROVISIONS 
 17.1 Dispute Resolution. In the event of a dispute relating to this Agreement, the Parties shall
endeavor to settle such dispute amicably. Failing amicable resolution, either party may seek resolution in the federal court. 
 17.2 Governing Law. The enforcement and construction of this Agreement shall be governed by law of the State of Delaware, United States, without regards to conflicts of laws principles. 
 17.3 Relationship of the Parties. Neither party is, nor will be deemed to be, an agent or legal representative of the other Party
for any purpose. Neither party will be entitled to enter into any contracts in the name of or on behalf of the other party, and neither party will be entitled to pledge the credit of the other party in any way hold itself out as having authority to
do so. No party will incur any debs or make any commitments for the other, except to the extent, if at all, specifically provided herein. 
  

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 17.4 Entire Agreement. This Amended and Restated Patent and Know-How Exclusive
License Agreement constitutes the entire agreement between Grantors and Licensee with respect to the subject matter thereof, and has not been modified or amended and supersedes all prior agreements relating to the subject matter hereof. 

17.5 Amendment. No amendment, modification or supplement of any provision of the Agreement will be valid or effective unless
made in writing and signed by a duly authorized officer of each Party. 
 17.6 Waiver. No provision of the Agreement
unless such provision otherwise provides will be waived by any act, omission or knowledge of a Party or its agents or employees except by an instrument in writing expressly waiving such provision and signed by a duly authorized officer of the
waiving Party. 
 17.7 Full Force and Effect, No Default. As of the date of the this Amended and Restated Patent and
Know-How Exclusive License Agreement, no event of default exists and is continuing under this Agreement and, to Grantors’ knowledge, there is no event that with the giving of notice, the passage of time, or both, would constitute an event of
default under this Agreement 
 IN WITNESS WHEREOF, the parties, intending to be bound hereby, have executed this Amended and Restated Patent and Know-How
Exclusive License Agreement as of the date first set forth above. 
  

	
	
	/s/ Jacques Seguin
	JACQUES SEGUIN, M.D., Ph.D.
	
	/s/ Jean-Claude Laborde
	JEAN CLAUDE LABORDE, M.D.

  

			
	DEVAX INC.
		
	By:	 	/s/ Jeffrey Thiel
	Its:	 	President and Chief Operating Officer

  

 12

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