Document:

TRUST AGREEMENT

 

ENERPULSE, INC.

(2011 NON-QUALIFIED DEFERRED COMPENSATION
PLAN)

 

This Trust Agreement
(the “Trust Agreement”) is made and entered as of this 20th day of December, 2011 by and between Enerpulse Inc., a
corporation organized under the laws of the State of Delaware (the “Company”) and The First National Bank of Santa
Fe, Corporate Trust Department, Santa Fe, New Mexico as Trustee (the “Trustee”).

 

WHEREAS, the Company has adopted a non-qualified
deferred compensation plan (the “Plan”) which is attached hereto and incorporated herein by reference as Appendix A;
and

 

WHEREAS, the Company
expects to incur liability under the terms of the Plan with respect to the individuals participating in the Plan as more particularly
described in Appendix B which is incorporated by reference herein; and

 

WHEREAS, the Company
desires to establish a trust (the “Trust”) and to contribute to the Trust assets that shall be held therein subject
to the claims of the creditors of the Company in the event of the Company’s Insolvency, as defined herein, until paid to
the Plan participants and their beneficiaries in such a manner and at such times as specified in the Plan; and

 

WHEREAS, it is the
intention of the Company to make contributions of cash or securities to the Trust to provide itself with a source of funds or assets,
to assist it in meeting its liabilities under the Plan.

 

NOW THEREFORE, the
Parties do hereby establish the Trust and agree that the Trust shall be comprised of the following assets and held and disposed
of as follows:

 

Section 1. Creation of Trust. 

 

		(a)	The Company hereby agrees to deposit with the Trustee an amount not to exceed two hundred and sixty
one thousand dollars ($261,000.00 U.S.D.) which shall become the principal of the Trust to be held, administered and disposed of
by the Trustee as provided in this Trust;

		(b)	The Company and the Trustee agree that the Trust hereby established shall be irrevocable;

		(c)	The Trust is intended to be a grantor trust, of which the Company is the grantor, within the meaning
of subpart E, part I, subchapter J, subtitle A of the Internal Revenue Code of 1986, as amended (the “Code”), and shall
be construed accordingly;

 

    	 

    	 

    

 

		(d)	The principal of the Trust, and any earnings thereon, shall be held separate and apart from the
other funds and assets of the Company and shall be used exclusively for the uses and purposes of the Plan participants (the Participants”)
and the general creditors of the Company as set forth herein. The Participants and their beneficiaries (the “Beneficiaries”)
shall have no preferred claim on, or any beneficial ownership or interest in, any assets of the Trust. Any rights created under
the Plan and this Trust Agreement shall be considered to be unsecured contractual rights of the Participants and the Beneficiaries
in any claim against the Company by the Participants or the Beneficiaries. Any assets held by the Trust will be subject to the
claims of the general creditors of the Company under state and federal law in the event of Insolvency, as defined in Section 3
(a) herein;

		(e)	The Company, in its sole discretion, may at any time, or from time to time, make additional deposits
of cash or securities to augment the principal of the Trust to be administered pursuant to this Trust Agreement. Neither the Trustee
nor any Participant or Beneficiary shall have the right to compel the Company to make such additional deposits.

 

Section 2. Payments to Plan Participants and their Beneficiaries.

 

		(a)	The Company shall deliver to the Trustee a schedule (the “Payment Schedule”) that indicates
the amount of cash payable to each Participant (and his or her beneficiaries), that provides a list, formula, or other instructions
acceptable to the Trustee for determining the amount to be paid or delivered (as provided for or available under the Plan) to the
Participants, and the time of payment of such amounts or delivery of Shares, as applicable. Except as otherwise provided herein,
the Trustee shall make payments to the Participants in accordance with the Payment Schedule. The Company shall make provision for
the reporting and withholding of any state, federal or local taxes that may be required to be withheld with respect to the payments
of benefits pursuant to the Plan and shall pay such amounts, as applicable, to the appropriate taxing authorities or determine
that such amounts have been reported, withheld and paid.

		(b)	The entitlement by a Participant to benefits under the Plan and any claim therefore shall be considered
and reviewed under the procedures set forth in the Plan.

		(c)	The Company may make payment of benefits to the Participants or the Beneficiaries as they become
due under the terms of the Plan. The Company shall notify the Trustee of its decision to make payment of benefits directly prior
to the time amounts or Shares are due to Participants or Beneficiaries. In addition, if the principal of the Trust and any earnings
thereon, are not sufficient to make payments or distribute benefits in accordance with the terms of the Plan, the Company shall
make the balance of each payment as may be due when the assets of the Trust are insufficient to do so.

 

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Section 3. Trustee Responsibility Regarding Distributions
from the Trust.

 

		(a)	The Trustee shall cease payment of benefits to the Participants and the Beneficiaries if the Company
is Insolvent. The Company shall be considered “Insolvent” for the purposes of this Trust Agreement if (i) the Company
is unable to pay its debts as they become due, or (ii) the Company is a party to or subject to a proceeding as a debtor under the
United States Bankruptcy Code.

		(b)	Unless the Trustee has actual knowledge of the Company’s insolvency, or has received notice
from the Company or a bona fide creditor of the Company claiming that the Company is Insolvent, the Trustee shall make the scheduled
distributions for the Trust to the Beneficiaries. The Trustee shall have no duty to inquire as to whether or not the Company is
Insolvent, however, the Trustee may rely on any evidence available and acceptable to the Trustee to make its own decision as to
whether or not the Company is Insolvent.

		(c)	Provided that there are sufficient assets, if the Trustee discontinues the payment of benefits
from the Trust due to the Company’s Insolvency pursuant to Section 3 (b) hereof and subsequently resumes such payments or
distributions, the first payment or distribution following such discontinuance shall include the aggregate amount of all payments
or distributions due to the Participants or the Beneficiaries under the terms of the Plan, less the amount of any payments or distributions
made during a period of discontinuance to the Participants or the Beneficiaries.

		(d)	The Trustee may invest in the securities (including stock or rights to acquire stock) or obligations
issued by the Company. All rights associated with assets of the Trust shall be exercised by the Trustee except that voting rights
and dividend rights shall remain with the Company.

 

Section 4. Disposition of Income.

 

During the term of this Trust, all income
received by the Trust, net of expenses and taxes, shall be accumulated and reinvested.

 

Section 5. Accounting by the Trustee.

 

The Trustee shall keep
accurate and detailed records of all investments, receipts, disbursements, and all other transactions required to be made, including
such specific records as shall be agreed upon in writing between the Company and the Trustee. Within ninety (90) days following
the close of each calendar year and within thirty (30) days after the removal or resignation of the Trustee, the Trustee shall
deliver to the Company a written account of its administration of the Trust during such year or during the period from the close
of the last preceding year to the date of such removal or resignation of the Trustee, setting forth all investment, receipts, disbursements
and other transactions effected by it, including a description of all securities and investments purchased and sold with the cost
or net proceeds of such purchases or sales and showing all cash, securities and other property held in the Trust at the end of
such year or as of the date of such removal or resignation.

 

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Section 6. Responsibility of the
Trustee.

 

		(a)	The Trustee shall act with the care, skill, prudence and diligence, under the circumstances then
prevailing that a prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise
or business of like character and with like aims, provided, however, that the Trustee shall incur no liability to any person for
any action taken pursuant to a direct request or approval given by the Company to the Trustee. In the event of a dispute between
the Company or a Participant, or the Company or the Trustee and, a Participant or Beneficiary, the Trustee shall submit the dispute
to binding arbitration prior to the institution of any litigation by the Trustee.

		(b)	If the Trustee undertakes or defends any litigation, arbitration or mediation arising in connection
with this Trust, the Company agrees to indemnify the Trustee against the Trustee’s costs, expenses and liabilities, including
reasonable attorneys’ fees and expenses.

		(c)	The Trustee shall have all powers conferred on Trustees by applicable law, unless expressly provided
otherwise herein.

		(d)	Notwithstanding any powers granted to the Trustee pursuant to this Trust Agreement or to applicable
law, the Trustee shall not have any power that could give the Trust the objective of carrying on a business and dividing the gains
therefrom, within the meaning of section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the
Internal Revenue Code of 1986, as amended.

 

Section 7. Compensation and Expenses of the Trustee.

 

The Company shall pay
all of the Trustee’s administrative fees and expenses. The Trustee shall not hire outside counsel relating to this Trust
without the approval of the Company. If the Company fails to pay the fees and expenses of the Trustee within thirty (30) days of
the invoice date, whether such fees and expenses are based on the Trustee’s standard fee schedule or whether such fees and
expenses are incurred as a result of litigation or arbitration due to a dispute pursuant to Section 8 (a) of the Trust Agreement,
the Trustee shall pay all such fees and expenses from the assets held in the Trust. In the event the assets of the Trust are insufficient
to pay the Trustee’s fees and expenses in full, the Trustee shall take whatever action it deems necessary to recover from
the Company the balance of unpaid fees and expenses.

 

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Section 8. Resignation and Removal
of the Trustee.

 

		(a)	The Trustee may resign at any time by written notice to the Company, which shall be effective thirty
(30) days after receipt of such notice or such other time as the Company and Trustee may agree.

		(b)	The Trustee may be removed by the Company upon thirty (30) days written notice from the Company
to the Trustee.

		(c)	Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall
be subsequently transferred to the successor Trustee. The transfer shall be completed within thirty (30) days of the effective
date of the appointment of the successor Trustee unless the Company, in its sole discretion extends the time limit.

		(d)	If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section
11 hereof, by the effective date of such resignation or removal under subparagraphs (a) or (b) of this Section 10. If no such appointment
has been made, the Trustee may apply to a court of competent jurisdiction for the appointment of a successor Trustee or for instructions.
All reasonable and necessary expenses of the Trustee in connection with such proceedings shall be allowed as an administrative
expense of the Trust and shall be paid by the Company.

 

Section 9. Appointment of Successor Trustee.

 

If the Trustee resigns
or is removed in accordance with Section 10 (a) or (b) hereof, the Company shall appoint as a successor Trustee any bank or financial
institution with corporate trust powers under the laws of the United States or state of New Mexico and assets of over

$5,000,000. The appointment of the successor
Trustee shall become effective upon the acceptance in writing of the successor Trustee, who shall have all of the rights and powers
of the prior Trustee, including ownership rights in the assets of the Trust. The prior Trustee shall execute any instrument necessary
or reasonably requested by the Company or the successor Trustee to complete the transfer to the successor Trustee.

 

Section 10. Amendment or Termination.

 

		(a)	This Trust Agreement may be amended or supplemented by a written instrument executed by the Trustee
and the Company. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Plan or make the Trust revocable.

		(b)	The Trust shall not terminate until the date on which the Plan’s Participants and Beneficiaries
are no longer entitled to benefits pursuant to the terms of the Plan. Upon termination of the Trust, any assets remaining in the
Trust shall be returned to the Company.

 

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Section 11. Miscellaneous.

 

		(a)	If any provision of this Trust Agreement is found by a court of competent jurisdiction to be contrary
to law, the remaining provisions of this Trust Agreement shall remain in full force and effect.

		(b)	Benefits payable to Plan Participants or Beneficiaries under this Trust Agreement may not be anticipated,
assigned (either in law or equity) alienated, hypothecated, pledged, encumbered or subjected to attachment, garnishment, levy execution
or other legal or equitable process.

		(c)	The interpretation and enforcement of this Trust Agreement and, the provisions thereof shall be
governed by the laws of the State of New Mexico.

		(d)	For the purposes of this Trust Agreement, the term “Change in Control” shall mean:
for purposes of the interpretation of this Plan in conformance with section 409A of the Code and the applicable guidance issued
by the Department of the Treasury with respect to the application of section 409A, with respect to a Plan Participant, a Change
in Control event must relate to: (i) the corporation for which the Participant is performing services at the time of the Change
in Control event, (ii) the corporation that is liable for the payment of the deferred compensation (or all corporations liable
for the payment if more than one corporation is liable), or (iii) a corporation that is a majority shareholder of a corporation
identified in part (i) or part (ii) above, or any corporation in a chain of corporations in which each corporation is a majority
shareholder of another corporation in the chain, ending in a corporation identified in part (i) or part (ii) above. For purposes
of this provision, a majority shareholder is a shareholder owning more than fifty percent (50%) of the total fair market value
and total voting power of such corporation. Also, for purposes of this provision, section 318(a) of the Code applies to determine
stock ownership. Additionally, for purposes of this provision and in conformance with section 409A and the applicable guidance
issued by the Department of the Treasury with respect to the application of section 409A, a change in the ownership of a corporation
or a change in the effective control of a corporation is determined in accordance with the provisions described below in this definition.

 

(i) A change
in the ownership of a corporation shall occur on the date that any one person, or more than one person acting as a group, in one
transaction or a series of transactions, directly or indirectly, acquires ownership of stock of the corporation that, together
with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting
power of the stock of the corporation. However, if any one person or more than one person acting as a group, is considered to own
more than fifty percent (50%) of the total fair market value or total voting power of the stock of the corporation, the acquisition
of additional stock by the same person or persons shall not be considered to cause a change in the ownership of the corporation
(or to cause a change in the effective control of the corporation). An increase in the percentage of stock owned by any one person,
or persons acting as a group, as a result of a transaction, in one transaction or a series of transactions, directly or indirectly,
in which the corporation acquires its stock in exchange for property shall be treated as an acquisition of stock for purposes of
this provision.

 

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(ii) For
purposes of paragraph (i) above, persons will not be considered to be acting as a group solely because they purchase or own stock
of the same corporation at the same time, or as a result of the same public offering. However, persons will be considered to be
acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock,
or similar business transaction with the corporation. If a person, including an entity, owns stock in both corporations that enter
into a merger, consolidation, purchase or acquisition of stock, or similar transaction, such shareholder is considered to be acting
as a group with other shareholders in a corporation prior to the transaction giving rise to the change and not with respect to
the ownership interest in the other corporation.

(iii) A
change in the effective control of a corporation shall occur on the date that either:

(A) any
one person, or more than one person acting as a group, in one transaction or a series of transactions, directly or indirectly,
acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons)
ownership of stock of the corporation possessing thirty-five percent (35%) or more of the total voting power of the stock of the
corporation; or

(B) a majority
of members of the board of directors of the corporation is replaced during any 12-month period by directors whose appointment or
election is not endorsed by a majority of the members of the board of directors of the corporation prior to the date of the appointment
or election, provided that for purposes of this subparagraph (B) the term “corporation” shall be determined in accordance
with the requirements of section 409A of the Code and the applicable guidance issued by the Department of the Treasury with respect
to the application of section.

(iv) A
change in the ownership of a substantial portion of the assets of a corporation shall occur on the date that any one person, or
more than one person acting as a group acquires (or has acquired during the 12-month period ending on the date of the most recent
acquisition by such person or persons) assets from the corporation that have a total gross fair market value equal to or more than
forty percent (40%) of the total gross fair market value of all of the assets of the corporation immediately prior to such acquisition
or acquisitions. For this purpose, gross fair market value means the value of the assets of the corporation, or the value of the
assets being disposed of, determined without regard to any liabilities associated with such assets.

 

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(v) The
provisions of this subsection (e) regarding the definition of the term “Change in Control,” shall be determined and
administered in accordance with section 409A and the applicable guidance issued by the Department of the Treasury with respect
to the application of section 409A.

 

		(e)	No officer, director, employee, attorney or agent of the Company shall have any personal liability
for any act or omission of the Trustee or the Company relating to this Trust and the Company agrees to indemnify and hold harmless
any such officer, director, attorney, employee or agent from all liability including reasonable attorney’s fees and costs
in the event that any action is brought against such persons relating to the enforcement or interpretation of this Trust.

 

Section 12. Effective Date.

 

The effective date of this Trust Agreement
shall be December 20, 2011.

  

	ENERPULSE, INC.	 	THE FIRST NATIONAL BANK OF SANTA FE, 
	 	 	 
	 	 	Trust Department

  

	By:	 	 	By:	 

 

    	8INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (this “Agreement”), dated as of __________, 2013, is made by and between L2 Medical Development Company,
a Nevada corporation (the “Company”), and the undersigned, who is either a director or an officer (or both) of the
Company (the “Indemnitee”), with this Agreement to be deemed effective as of the date that the Indemnitee first assumed
either such capacity at the Company.

 

RECITALS

 

A.          The
Company is aware that competent and experienced persons are reluctant to serve as directors or officers of corporations unless
they are protected by comprehensive liability insurance and indemnification, due to the exposure to litigation costs and risks
resulting from their service to such corporations, and due to the fact that the exposure frequently bears no reasonable relationship
to the compensation of such directors and officers;

 

B.          The
Board of Directors of the Company (the “Board”) has concluded that, to retain and attract talented and experienced
individuals to serve as officers or directors of the Company, it is necessary for the Company contractually to indemnify certain
of such persons and to assume for itself maximum liability for expenses and damages in connection with claims against such persons
in connection with their service to the Company;

 

C.          Section
7502 of Chapter 78 of the Nevada General Corporation Law, under which the Company is organized (“Section 7502”), empowers
the Company to indemnify by agreement its present and former officers and directors and persons who serve, at the request of the
Company, as directors or officers of other corporations, partnerships, joint ventures, trusts, or other enterprises and expressly
provides that the indemnification provided by Section 7502 is not exclusive; and

 

D.          The
Company desires and has requested the Indemnitee to serve or continue to serve as a director or an officer of the Company free
from undue concern for claims for damages arising out of or related to such services to the Company.

 

NOW, THEREFORE, the
parties hereto, intending to be legally bound, hereby agree as follows:

 

		1.	Definitions

 

1.1            Agent.
For the purposes of this Agreement, “agent” of the Company means any person who is or was a director or an officer
of the Company or a subsidiary of the Company; or is or was serving at the request of the Company or a subsidiary of the Company
as a director or an officer of another foreign or domestic corporation, partnership, joint venture, trust, or other enterprise
or an affiliate of the Company. The term “enterprise” includes any employee benefit plan of the Company, its subsidiaries,
affiliates, and predecessor corporations.

 

    	 

    	 

    

 

1.2            Company.
For purposes of this Agreement, the “Company” includes, in addition to the resulting corporation, any constituent corporation
(including any constituent of a constituent) absorbed in a consolidation or merger that, if its separate existence had continued,
would have had power and authority to indemnify its directors or officers so that any person who is or was a director or an officer
of such constituent corporation, or is or was serving at the request of such constituent corporation as a director or an officer
of another corporation, partnership, joint venture, trust, or other enterprise, shall stand in the same position under this Agreement
with respect to the resulting or surviving corporation as such person would have with respect to such constituent corporation if
its separate existence had continued.

 

1.3            Expenses.
For the purposes of this Agreement, “expenses” includes all direct and indirect costs of any type or nature whatsoever
(including, without limitation, all attorneys’ fees and related disbursements and other out-of-pocket costs) actually and
reasonably incurred by the Indemnitee in connection with the investigation, defense, or appeal of a proceeding or establishing
or enforcing a right to indemnification or advancement of expenses under this Agreement, Section 7502 or otherwise; provided,
however, that expenses shall not include any judgments, fines, ERISA excise taxes or penalties, or amounts paid in settlement
of a proceeding.

 

1.4            Fines.
For purposes of this Agreement, references to “fines” includes any excise taxes assessed on a person with respect to
any employee benefit plan.

 

1.5            Liabilities.
For purposes of this Agreement, “liabilities” means judgments, fines, ERISA execute taxes or penalties, and amounts
paid in settlement in connection with a proceeding.

 

1.6            Other
Enterprises. For purposes of this Agreement, “other enterprises” includes employee benefit plans.

 

1.7            Proceeding.
For the purposes of this Agreement, “proceeding” means any threatened, pending, or completed action, suit, or other
proceeding, whether civil, criminal, administrative, or investigative.

 

1.8            Subsidiary.
For purposes of this Agreement, “subsidiary” means any corporation of which more than 50% of the outstanding voting
securities is owned directly or indirectly by the Company, by the Company and one or more of its subsidiaries, or by one or more
of the Company’s subsidiaries.

 

1.9            Serving
at the Request of the Company. For purposes of this Agreement, “serving at the request of the Company” includes
any service as a director or an officer of the Company that imposes duties on, or involves services by, such director or officer
with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner
such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be
deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement.

 

2.           Agreement
to Serve. The Indemnitee agrees to serve and/or continue to serve as an agent of the Company, at the will of the Company (or
under separate agreement, if such agreement exists), in the capacity the Indemnitee currently serves as an agent of the Company,
faithfully and to the best of his ability, so long as he is duly appointed or elected and qualified in accordance with the applicable
provisions of the charter documents of the Company or any subsidiary of the Company; provided, however, that the
Indemnitee may at any time and for any reason resign from such position (subject to any contractual obligation that the Indemnitee
may have assumed apart from this Agreement), and the Company and any subsidiary shall have no obligation under this Agreement to
continue the Indemnitee in any such position.

 

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3.           Directors’
and Officers’ Insurance. The Company shall, to the extent that the Board determines it to be economically reasonable,
maintain a policy of directors’ and officers’ liability insurance (“D&O Insurance”), on such terms
and conditions as may be approved by the Board.

 

4.           Mandatory
Indemnification. Subject to Section 9 below, the Company hereby agrees to hold harmless and indemnify the Indemnitee to the
fullest extent permitted by law, as such may be amended from time to time. In furtherance of the foregoing indemnification, and
without limiting the generality thereof:

 

4.1            Third-Party
Actions. If the Indemnitee is a person who was or is a party or is threatened to be made a party to any proceeding (except
an action by or in the right of the Company) by reason of the fact that the Indemnitee is or was an agent of the Company, or by
reason of anything done or not done by the Indemnitee in any such capacity, against any and all expenses and liabilities of any
type whatsoever incurred by the Indemnitee in connection with such proceeding if (a) the Indemnitee acted in good faith and in
a manner the Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company and, with respect to
any criminal action or proceeding, had no reasonable cause to believe the Indemnitee’s conduct was unlawful, or (b) the Indemnitee,
if a director or an officer of the Company, did not act or fail to act in a manner that constituted a breach of the Indemnitee’s
fiduciary duties as a director or an officer or such Indemnitee’s breach of those duties did not involve intentional misconduct,
fraud, or a knowing violation of law; and

 

4.2            Derivative
Actions. If the Indemnitee is a person who was or is a party or is threatened to be made a party to any proceeding by or in
the right of the Company to procure a judgment in its favor by reason of the fact that the Indemnitee is or was an agent of the
Company, or by reason of anything done or not done by the Indemnitee in any such capacity, against any and all expenses and liabilities
incurred by the Indemnitee in connection with such proceeding if (a) the Indemnitee acted in good faith and in a manner the Indemnitee
reasonably believed to be in, or not opposed to, the best interests of the Company, or (b) the Indemnitee, if a director or an
officer of the Company, did not act or fail to act in a manner that constituted a breach of the Indemnitee’s fiduciary duties
as a director or an officer or such Indemnitee breach of those duties involved intentional misconduct, fraud, or a knowing violation
of law; except that no indemnification under this subsection shall be made in respect of any claim, issue, or matter as
to which the Indemnitee shall have been adjudged by a court of competent jurisdiction, after the exhaustion of all appeals therefrom,
to be liable to the Company or for amounts paid in settlement to the Company, unless and only to the extent that the court in which
such proceeding was brought or another court of competent jurisdiction determines upon application that, in view of all the circumstances
of the case, the Indemnitee is fairly and reasonable entitled to indemnity for such expenses as the court deems proper; and

 

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4.3            Exception
for Amounts Covered by Insurance. Notwithstanding the foregoing, the Company shall not be obligated to indemnify the Indemnitee
for expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties,
and amounts paid in settlement) to the extent such have been paid to the Indemnitee by D&O Insurance.

 

4.4            Indemnification
for Expenses as a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason
of the Indemnitee’s status as an agent of the Company, a witness, or is made (or asked) to respond to discovery requests,
in any proceeding to which Indemnitee is not a party, the Indemnitee shall be indemnified against all expenses and liabilities
of any type whatsoever actually and reasonably incurred by him or her or on his or her behalf in connection therewith.

 

		5.	Partial Indemnification and Contribution.

 

5.1            Partial
Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for
some or a portion of any expenses or liabilities of any type whatsoever incurred by the Indemnitee in connection with a proceeding
but is not entitled, however, to indemnification for all of the total amount thereof, then the Company shall nevertheless indemnify
the Indemnitee for such total amount except as to the portion thereof to which the Indemnitee is not entitled to indemnification.

 

5.2            Contribution.
If the Indemnitee is not entitled to the indemnification provided in Section 4 for any reason other than the statutory limitations
set forth in the Nevada General Corporation Law, then in respect of proceeding in which the Company is jointly liable with the
Indemnitee (or would be if joined in such proceeding), the Company shall contribute to the amount of expenses and liabilities paid
or payable by the Indemnitee in such proportion as is appropriate to reflect (a) the relative benefits received by the Company
on the one hand and the Indemnitee on the other hand from the transaction from which such proceeding arose and (b) the relative
fault of the Company on the one hand and of the Indemnitee on the other hand in connection with the events that resulted in such
expenses, as well as any other relevant equitable considerations. The relative fault of the Company on the one hand and of the
Indemnitee on the other hand shall be determined by reference to, among other things, the parties’ relative intent, knowledge,
access to information, and opportunity to correct or prevent the circumstances resulting in such expenses, judgments, fines, or
settlement amounts. The Company agrees that it would not be just and equitable if contribution pursuant to this Section 5 were
determined by pro rata allocation or any other method of allocation which does not take account of the foregoing equitable considerations.

 

		6.	Mandatory Advancement of Expenses.

 

6.1            Advancement.
Subject to Section 9 below, the Company shall pay as incurred and in advance of the final disposition of a civil or criminal proceeding
all expenses incurred by the Indemnitee in connection with defending any such proceeding to which the Indemnitee is a party or
is threatened to be made a party by reason of the fact that the Indemnitee is or was an agent of the Company or by reason of anything
done or not done by the Indemnitee in any such capacity. The Indemnitee hereby undertakes to promptly repay such amounts advanced
only if, and to the extent that, it shall ultimately by determined that the Indemnitee is not entitled to be indemnified by the
Company under the provisions of this Agreement, the Articles of Incorporation or Bylaws of the Company, the Nevada General Corporation
Law, or otherwise. The advances to be made hereunder shall be paid by the Company to the Indemnitee within thirty (30) days following
delivery of a written request therefor by the Indemnitee to the Company.

 

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6.2            Exception.
Notwithstanding the foregoing provisions of this Section 6, the Company shall not be obligated to advance any expenses to the Indemnitee
arising from a lawsuit filed directly by the Company against the Indemnitee if an absolute majority of the members of the Board
reasonably determines in good faith, within thirty (30) days of the Indemnitee’s request to be advanced expenses, that the
facts known to them at the time such determination is made demonstrate clearly and convincingly that the Indemnitee acted in bad
faith. If such a determination is made, the Indemnitee may have such decision reviewed in the manner set forth in Section 8.5 hereof,
with all references therein to “indemnification” being deemed to refer to “advancement of expenses,” and
the burden of proof shall be on the Company to demonstrate clearly and convincingly that, based on the facts known at the time,
the Indemnitee acted in bad faith. The Company may not avail itself of this Section 6.2 as to a given lawsuit if, at any time after
the occurrence of the activities or omissions that are the primary focus of the lawsuit, the Company has undergone a change in
control. For this purpose, a “change in control” shall mean a given person of group of affiliated persons or groups
increasing their beneficial ownership interest in the Company by at least twenty (20) percentage points without advance Board approval.

 

		7.	Notice and Other Indemnification Procedures.

 

7.1            Notification.
Promptly after receipt by the Indemnitee of notice of the commencement of or the threat of commencement of any proceeding,
the Indemnitee shall, if the Indemnitee believes that indemnification with respect thereto may be sought from the Company under
this Agreement, notify the Company of the commencement or threat of commencement thereof.

 

7.2            Insurance.
If, at the time of the receipt of a notice of the commencement of a proceeding pursuant to Section 7.1 hereof, the Company has
D&O Insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance
with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with
the terms of such D&O Insurance policies.

 

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7.3            Defense.
In the event the Company shall be obligated to advance the expenses for any proceeding against the Indemnitee, the Company, if
appropriate, shall be entitled to assume the defense of such proceeding, with counsel approved by the Indemnitee (which approval
shall not be unreasonably withheld), upon the delivery to the Indemnitee of written notice of its election to do so. After delivery
of such notice, approval of such counsel by the Indemnitee and the retention of such counsel by the Company, the Company will not
be liable to the Indemnitee under this Agreement for any fees of counsel subsequently incurred by the Indemnitee with respect to
the same proceeding, provided that (a) the Indemnitee shall have the right to employ the Indemnitee’s own counsel
in any such proceeding at the Indemnitee’s expense; (b) the Indemnitee shall have the right to employ the Indemnitee’s
own counsel in connection with any such proceeding, at the expense of the Company, if such counsel serves in a review, observer,
advice, and counseling capacity and does not otherwise materially control or participate in the defense of such proceeding; and
(c) if (i) the employment of counsel by the Indemnitee has been previously authorized by the Company, (ii) the Indemnitee shall
have reasonably concluded that there may be conflict of interest between the Company and the Indemnitee in the conduct of any such
defense, or (iii) the Company shall not, in fact, have employed counsel to assume the defense of such proceeding, then the fees
and expenses of the Indemnitee’s counsel shall be at the expense of the Company.

 

		8.	Determination of Right to Indemnification.

 

8.1            Success
on Merits. To the extent the Indemnitee has been successful on the merits or otherwise in defense of any proceeding referred
to in Section 4.1 or 4.2 of this Agreement or in the defense of any claim, issue, or matter described therein, the Company shall
indemnify the Indemnitee against expenses actually and reasonably incurred by the Indemnitee in connection with the investigation,
defense, or appeal of such proceeding, or such claim, issue, or matter, as the case may be.

 

8.2            Proof
by Company. In the event that Section 8.1 is inapplicable, or does not apply to the entire proceeding, the Company shall nonetheless
indemnify the Indemnitee unless the Company shall prove by clear and convincing evidence to a forum listed in Section 8.4 below
that the Indemnitee has not met the applicable standard of conduct required to entitle the Indemnitee to such indemnification.

 

8.3            Termination
of Proceeding. The termination of any proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere
its equivalent, does not, of itself, create a presumption that a person (a) did not act in good faith and in a manner the person
reasonably believed to be in or not opposed to the best interests of the Company, (b) with respect to any criminal action or proceeding,
that the person had reasonable cause to believe that the person’s conduct was unlawful, or (c) the person’s act or
failure to act constituted a breach of the person’s fiduciary duties as a director or an officer or the person’s breach
of those duties involved intentional misconduct, fraud, or a knowing violation of law.

 

8.4            Applicable
Forums. The Indemnitee shall be entitled to select the forum in which the validity of the Company’s claim under Section
8.2 hereof that the Indemnitee is not entitled to indemnification will be heard from among the following, except that the
Indemnitee can select a forum consisting of the stockholders of the Company only with the approval of the Company and, if the Indemnitee
is a director or an officer at the time of such determination, the determination shall be made in accordance with (a), (b), (c)
or (d) below at the election of the Company:

 

(a)            A
majority vote of the directors who are not parties to the proceeding for which indemnification is being sought even though less
than a quorum;

 

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(b)            By
a committee of directors who are not parties to the proceeding for which indemnification is being sought designated by a majority
vote of such directors, even though less than a quorum;

 

(c)            If
there are no directors who are not parties to the proceeding for which indemnification is sought, or if such directors so direct,
by independent legal counsel in a written opinion;

 

(d)            The
stockholders of the Company;

 

(e)            A
panel of three arbitrators, one of whom is selected by the Company, another of whom is selected by the Indemnitee and the last
of whom is selected by the first two arbitrators so selected; or

 

(f)            A
court having jurisdiction of subject matter and the parties.

 

8.5            Submission.
As soon as practicable, and in no event later than thirty (30) days after the forum has been selected pursuant to Section 8.4 above,
the Company shall, at its own expense, submit to the selected forum its claim that the Indemnitee is not entitled to indemnification,
and the Company shall act in the utmost good faith to assure the Indemnitee a complete opportunity to defend against such claim.

 

8.6            Appeals.
If the forum selected in accordance with Section 8.4 hereof is not a court, then after the final decision of such forum is rendered,
the Company or the Indemnitee shall have the right to apply to a court of Nevada, the court in which the proceeding giving rise
to the Indemnitee’s claim for indemnification is or was pending, or any other court of competent jurisdiction, for the purpose
of appealing the decision of such forum, provided that such right is executed within sixty (60) days after the final decision
of such forum is rendered. If the forum selected in accordance with Section 8.4 hereof is a court, then the rights of the Company
or the Indemnitee to appeal any decision of such court shall be governed by the applicable laws and rules governing appeals of
the decision of such court.

 

8.7            Expenses
for Interpretation. Notwithstanding any other provision in this Agreement to the contrary, the Company shall indemnify the
Indemnitee against all expenses incurred by the Indemnitee in connection with any hearing or proceeding under this Section 8 involving
the Indemnitee and against all expenses incurred by the Indemnitee in connection with any other proceeding between the Company
and the Indemnitee involving the interpretation or enforcement of the rights of the Indemnitee under this Agreement unless a court
of competent jurisdiction finds that each of the material claims and/or defenses of the Indemnitee in any such proceeding was frivolous
or not made in good faith.

 

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9.           Exceptions.
Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement
in the following circumstances:

 

9.1            Claims
Initiated by Indemnitee. To indemnify or advance expenses to the Indemnitee with respect to proceedings or claims initiated
or brought voluntarily by the Indemnitee and not by way of defense, except with respect to proceedings specifically authorized
by the Board or brought to establish or enforce a right to indemnification and/or advancement of expenses arising under this Agreement,
the charter documents of the Company or any subsidiary, or any statute or law or otherwise, but such indemnification or advancement
of expenses may be provided by the Company in specific cases if the Board finds it to be appropriate; or

 

9.2            Unauthorized
Settlements. To indemnify the Indemnitee hereunder for any amounts paid in settlement of a proceeding unless the Company consents
in advance in writing to such settlement, which consent shall not be unreasonably withheld; or

 

9.3            Securities
Law Actions. To indemnify the Indemnitee on account of any suit in which judgment is rendered against the Indemnitee for an
accounting of profits made from the purchase or sale by the Indemnitee of securities of the company pursuant to the provisions
of Section 16(b) of the Securities Exchange Act of 1934 and amendments thereto or similar provisions of any federal, state, or
local statutory law; or

 

9.4            Unlawful
Indemnification. To indemnify the Indemnitee if a final decision by a court having jurisdiction in the mater shall determine
that such indemnification is not lawful. In this respect, the Company and the Indemnitee have been advised that the Securities
and Exchange Commission takes the position that indemnification for liabilities arising under the federal securities laws is against
public policy and is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate courts for
adjudication.

 

10.         Non-Exclusivity.
The provisions for indemnification and advancement of expenses set forth in this Agreement shall not be deemed exclusive of any
other rights that the Indemnitee may have under any provision of law, the Company’s Certificate of Incorporation or Bylaws,
the vote of the Company’s stockholders or disinterested directors, other agreements, or otherwise, both as to action in the
Indemnitee’s official capacity and to action in another capacity while occupying the Indemnitee’s position as an agent
of the Company, and the Indemnitee’s rights hereunder shall continue after the Indemnitee has ceased acting as an agent of
the Company and shall inure to the benefit of the heirs, executors, and administrators of the Indemnitee.

 

		11.	General Provisions.

 

11.1          Interpretation
of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced so as to provide
indemnification and advancement of expenses to the Indemnitee to the fullest extent now or hereafter permitted by law, except as
expressly limited herein.

 

11.2          Severability.
If any provision or provisions of this Agreement shall be held to be invalid, illegal, or unenforceable for any reason whatsoever,
then: (a) the validity, legality, and enforceability of the remaining provisions of this Agreement (including, without limitation,
all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal, or unenforceable that
are not themselves invalid, illegal, or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest
extent possible, the provisions of this Agreement (including, without limitation, all portions of any paragraphs of this Agreement
containing any such provision held to be invalid, illegal, or unenforceable, that are not themselves invalid, illegal, or unenforceable)
shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal, or unenforceable and to
give effect to Section 11.1 hereof.

 

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11.3          Modification
and Waiver. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by the
parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other
provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver.

 

11.4          Subrogation.
In the event of full payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the
rights of recovery of the Indemnitee, who shall execute all documents required and shall do all acts that may be necessary or desirable
to secure such rights and to enable the Company effectively to bring suit to enforce such rights.

 

11.5          Counterparts.
This Agreement may be executed in one or more counterparts, which shall together constitute one agreement.

 

11.6          Successors
and Assigns. The terms of this Agreement shall bind, and shall inure to the benefit of, the successors and assigns of the parties
hereto. The indemnification and advancement of expenses provided by, or granted pursuant to, this section shall, unless otherwise
provided when authorized or ratified, continue as to a person who has ceased to be a director or an officer and shall inure to
the benefit of the heirs, executors, and administrators of such a person.

 

11.7          Notice.
All notices, requests, demands, and other communications under this Agreement shall be in writing and shall be deemed duly given
if (a) delivered by hand and receipted for by the party addressee, or (b) mailed by certified or registered mail, with postage
prepaid, on the third business day after the mailing date. Addresses for notice to either party are as shown on the signature page
of this Agreement or as subsequently modified by written notice.

 

11.8          Governing
Law. This Agreement shall be governed exclusively by and construed according to the laws of the state of Nevada, as applied
to contracts between Nevada residents entered into and to be performed entirely within Nevada .

 

11.9          Consent
to Jurisdiction. The Company and the Indemnitee each hereby irrevocably consent to the jurisdiction of the courts of the state
of Nevada for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement.

 

11.10        Attorneys’
Fees. In the event Indemnitee is required to bring any action to enforce rights under this Agreement (including, without limitation,
the expenses of any proceeding described in Section 4), the Indemnitee shall be entitled to all reasonable fees and expenses in
bringing and pursuing such action, unless a court of competent jurisdiction finds each of the material claims of the Indemnitee
in any such action was frivolous and not made in good faith.

 

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IN WITNESS WHEREOF,
the parties hereto have entered into this Indemnification Agreement effective as of the date first written above.

 

	L2 Medical Development	 	INDEMNITEE:
	Company	 	 
	 	 	 	 
	By:	 	 	 
	 	 	 	 
	Name:	 	 	[            ]
	 	 	 	 
	Title:	 	 	 

 

[Signature Page to Indemnification Agreement]

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