Document:

Exhibit 10.3

 

SERVICES
AGREEMENT

 

THIS
SERVICES AGREEMENT (this “Agreement”) is entered into as of November 4, 2022 (the “Execution Date”)
by and between Morgenesis LLC, a Delaware limited liability company (the “Company”), and Orgenesis Inc., a
Nevada corporation (“Orgenesis Parent”). The Company and Orgenesis Parent are sometimes referred to herein
individually as a “Party” and collectively as the “Parties.”

 

RECITALS

 

WHEREAS,
MM OS Holdings, L.P. (“Investor”), the Company and Orgenesis Parent have entered into that certain Purchase
Agreement, dated November 4, 2022 (as amended, modified or supplemented from time to time in accordance with its terms, the “Purchase
Agreement”), whereby Investor agrees to purchase from the Company, and the Company agrees to issue to Investor, 3,019,651
Class A Preferred Units of the Company; and

 

WHEREAS,
in connection with consummating the transactions contemplated by the Purchase Agreement, the Parties shall enter into this Agreement,
pursuant to which, following the Closing (as defined in the Purchase Agreement), Orgenesis Parent shall provide (or cause to be provided)
certain services to the Company, subject to the terms and conditions of this Agreement.

 

NOW,
THEREFORE, in consideration of the premises and of the mutual promises, representations, warranties, covenants, conditions and agreements
contained herein and in the Purchase Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties, intending to be legally bound by the terms hereof, agree as follows:

 

Article
I

DEFINITIONS

 

Section
1.1 Capitalized Terms. Capitalized terms used but not otherwise defined herein shall have the meanings given such terms in the
Purchase Agreement.

 

Article
II

TERM

 

Section
2.1 Term. The initial term of this Agreement shall commence as of the Execution Date and shall continue until the date that is
three years after the Execution Date, unless earlier terminated pursuant to Article 7 of this Agreement; provided that the term
of this Agreement shall be extended automatically for successive three-year periods, unless (i) terminated by either Party by written
notice to the other Party at least 90 days prior to the expiration of the then-current term or (ii) terminated pursuant to Article
7 of this Agreement (the initial term together with any such extensions, the “Term”).

 

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Article
III

SERVICES

 

Section
3.1 Services.

 

(a)
Upon the terms and subject to the conditions set forth in this Agreement, the Company hereby engages Orgenesis Parent to perform and
provide, or cause to be performed and provided, and Orgenesis Parent hereby agrees to perform and provide, or cause to be performed or
provided, to the Company the services set forth in Schedule I, as may be modified from time to time in accordance with the terms
of this Agreement, attached hereto and hereby made a part hereof (hereinafter referred to individually as a “Service”
or collectively as the “Services”) for the duration of the Term, unless this Agreement is terminated earlier
pursuant to Article 7 of this Agreement.

 

(b)
The Services shall be performed in compliance with all applicable Laws and with a general degree of care that is not less than the degree
of care at which substantially the same services were performed by Orgenesis Parent or its Affiliates during the one-year period immediately
prior to the date hereof. Orgenesis Parent agrees to assign sufficient resources and qualified personnel as are required to perform the
Services in accordance with the standards set forth in the preceding sentence.

 

(c)
The Company agrees to provide or cause to be provided to Orgenesis Parent, its Affiliates or any third-party service providers, as applicable,
access to the facilities, assets, books and records or personnel of the Company (or its Affiliates), as applicable, to the extent reasonably
necessary for the provision of the Services. Orgenesis Parent agrees that all of its and its Affiliates’ employees and any subcontractors,
when on the property of the Company or when given access to any equipment, computer, software, network or files owned or controlled by
the Company, shall conform to the policies and procedures of the Company (generally applicable to the Company employees and outside contractors)
concerning health, safety and security which are made known to Orgenesis Parent in advance.

 

(d)
With respect to the personnel providing the Services, Orgenesis Parent shall be solely responsible for (i) paying all wages, bonuses
and commissions, (ii) providing all employee benefits, (iii) withholding and payment of applicable employment Taxes and other withholdings
in accordance with all applicable Laws, (iv) the maintenance of workers’ compensation insurance and (v) all other employment related
obligations and liabilities.

 

(e)
The Company may terminate any Service without terminating this Agreement by delivering written notice to Orgenesis Parent at least 60
days in advance of termination of such Service, which termination will be effective on the first day of the calendar month following
the expiration of such 60-day period; provided, however, with respect to a Service relating to management, the Parties acknowledge and
agree that any such notice of termination or actual termination of Service pursuant to this Agreement, or any non-renewal or termination
of this Agreement pursuant to the terms hereof, shall not impact any contractual arrangements that a service provider may have with Orgenesis
Parent or any of its subsidiaries or affiliates, including, without limitation, any agreement that a service provider has with Orgenesis
Services Sàrl. Upon termination of a Service in accordance with this Section 3.1(e), the Company shall no longer be obligated
to pay any charges, fees, costs or Taxes associated with, and Orgenesis Parent shall no longer be obligated to perform or cause the performance
of, such Service, except such charges, fees, expenses or Taxes incurred prior to such termination.

 

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(f)
Notwithstanding the contents of Schedule I, Orgenesis Parent agrees to consider in good faith any reasonable request by the Company
for access to any additional services that are necessary or useful for the operation of the Business and which are not currently contemplated
in Schedule I, at a price to be agreed upon after good faith negotiations between the Parties. Any such additional services provided
by Orgenesis Parent shall constitute Services under this Agreement and shall be subject in all respect to the provisions of this Agreement
as if fully set forth on Schedule I.

 

(g)
Notwithstanding any other provision of this Agreement to the contrary, Orgenesis Parent shall not be obligated to provide or cause to
be provided any Service in a manner that would violate or contravene any applicable Law. To the extent that the provision of any Service
would violate any applicable Law, the Parties agree to work together in good faith to provide such Service in a manner which would not
violate any applicable Law.

 

Article
IV

PAYMENT

 

Section
4.1 Payment. As compensation for providing the Services, the Company shall pay Orgenesis Parent the charges set forth on Schedule
II attached hereto in the column entitled “Morgenesis Charge,” which shall be payable by the Company to Orgenesis Parent
within 60 days of the Company’s receipt of any invoice from Orgenesis Parent. All payments due under this ‎Section
4.1 shall be made to the account designated in writing by Orgenesis Parent in the applicable invoice.

 

Section
4.2 Right to Offset. Each Party shall be permitted to offset amounts owing to such Party pursuant to this Agreement against payments
to be made by such Party pursuant to this Agreement.

 

Article
V

INDEMNIFICATION; LIMITATION OF LIABILITY

 

Section
5.1 Indemnification. Orgenesis Parent shall indemnify, defend and hold harmless the Company and its Affiliates and all of their
respective shareholders, directors, officers, partners, managers, members, agents, employees, successors and assigns against and from
all damages to the extent caused by breach of this Agreement by, or the negligence or willful misconduct of, Orgenesis Parent or any
of its Affiliates and all of their respective shareholders, directors, officers, partners, managers, members, agents, employees, successors
and assigns in the performance of the Services or of any duty, obligation or service under this Agreement.

 

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Section
5.2 Limitation on Liability. NONE OF THE COMPANY, ORGENESIS PARENT OR ANY OF THEIR RESPECTIVE AFFILIATES OR ITS OR THEIR RESPECTIVE
SHAREHOLDERS SHALL BE ENTITLED TO EXEMPLARY, SPECIAL OR PUNITIVE DAMAGES, INCLUDING ANY DIMINUTION IN VALUE, IN CONNECTION WITH THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, AND EACH OF THE COMPANY AND ORGENESIS PARENT, FOR ITSELF AND ON BEHALF OF ITS AFFILIATES
OR ITS OR THEIR RESPECTIVE SHAREHOLDERS, HEREBY EXPRESSLY WAIVES ANY RIGHT TO EXEMPLARY, SPECIAL OR PUNITIVE DAMAGES IN CONNECTION WITH
THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. 

 

Article
VI

CONFIDENTIAL INFORMATION

 

Section
6.1 Confidential Information. The Parties shall, and shall cause their employees, agents and advisors to, use reasonable efforts
to preserve in strict confidence any confidential information obtained from the other Party, and shall refrain from (i) disclosing any
such information without the prior written consent of the other Party, except as required or permitted by Law, legal process or securities
exchange requirements or (ii) using such information other than in the performance of the Services under this Agreement, in each case
unless such information (a) is or hereafter becomes known to the public through no violation of this ‎Section 6.1
by the receiving Party, (b) is provided to the receiving Party by a third party having no confidential obligation to the other Party
to this Agreement with regard to such information, or (c) is developed by the receiving Party independently of such information. Upon
demand by a disclosing Party at any time, or upon expiration or termination of this Agreement with respect to any Service, the Party
receiving information agrees promptly to return or destroy, at its option, all confidential information. If such confidential information
is destroyed, an authorized officer of the Party who received the information shall certify, at the other Party’s request, such
destruction in writing. Notwithstanding the foregoing, the receiving Party’s legal department may maintain a copy of such confidential
information in its restricted access files for actual or anticipated litigation, regulatory compliance or corporate record keeping purposes,
and the receiving Party shall not be required to destroy any computer records or files containing any such confidential information that
have been created pursuant to automatic electronic archiving and back-up procedures in the ordinary course of business where it would
be unduly burdensome to do so or would be contrary to applicable Law or applicable rules or regulations of any national securities exchange.

 

Article
VII

TERMINATION

 

Section
7.1 Termination.

 

(a)
This Agreement may be terminated during the Term (i) by the Company upon 60 days’ prior written notice to Orgenesis Parent, which
termination will be effective on the first day of the calendar month following the expiration of such 60-day period; (ii) at the written
election of the non-breaching Party in the event of a material breach or default by a Party of its obligations hereunder (other than
as contemplated under subparagraph ‎(iii) below) that is not cured within 15 days after written notice of such breach is provided
to the breaching Party by the non-breaching Party; or (iii) by Orgenesis Parent if the Company fails to pay any amount when due hereunder
and such amount remains unpaid for 20 Business Days after written notice of such non-payment is provided by Orgenesis Parent to the Company.

 

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(b)
No termination of this Agreement shall discharge, affect or otherwise modify in any manner the rights or obligations of the Parties that
have accrued or have been incurred prior to such termination, including, without limitation, the obligation of the Company to pay Orgenesis
Parent any and all amounts payable hereunder for, or related to, any Services provided prior to the effective date of such termination.

 

Section
7.2 Insolvency. In the event that either Party (i) files a petition in bankruptcy, (ii) becomes or is declared insolvent, or becomes
the subject of any proceedings (not dismissed within 60 days) related to its liquidation, insolvency or the appointment of a receiver,
(iii) makes an assignment on behalf of all or substantially all of its creditors or (iv) takes any corporate action for its winding up
or dissolution, then the other Party shall have the right to terminate this Agreement by providing written notice.

 

Article
VIII

GENERAL PROVISIONS

 

Section
8.1 Assignment. This Agreement may not be assigned by operation of Law or otherwise by any Party without the express written consent
of the other Party and Investor, and any attempted assignment without such consent shall be null and void.

 

Section
8.2 Acknowledgment. The Parties have participated jointly in the negotiation and drafting of this Agreement and, in the event
an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the Parties and
no presumption or burden of proof shall arise favoring or disfavoring either Party by virtue of the authorship of any provision of this
Agreement.

 

Section
8.3 Entire Agreement. This Agreement, including the Schedules hereto, and the Purchase Agreement constitute the entire agreement
between the Parties with respect to the subject matter hereof. In the event of a conflict between the body of this Agreement and the
Schedules hereto, the body of this Agreement shall take precedence over the Schedules. In the event of a conflict between this Agreement
and the Purchase Agreement, the Purchase Agreement shall take precedence over this Agreement.

 

Section
8.4 Amendment. Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing
and is signed, in the case of an amendment, by the Company, Orgenesis Parent and Investor, or in the case of a waiver, by the Party against
whom the waiver is to be effective.

 

Section
8.5 Governing Law. This Agreement and any claim, controversy or dispute arising out of or related to this Agreement and/or the
interpretation and enforcement of the rights and duties of the Parties, whether arising in contract, tort, equity or otherwise, shall
be governed by and construed in accordance with the domestic Laws of the State of Delaware (including in respect of the statute of limitations
or other limitations period applicable to any such claim, controversy or dispute), without giving effect to any choice or conflict of
Law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the Laws of any
jurisdiction other than the State of Delaware.

 

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Section
8.6 Jurisdiction. THE PARTIES AGREE THAT ALL DISPUTES, LEGAL ACTIONS, SUITS AND PROCEEDINGS ARISING OUT OF OR RELATING TO THIS
AGREEMENT MUST BE BROUGHT EXCLUSIVELY IN A FEDERAL DISTRICT COURT LOCATED IN THE DISTRICT OF DELAWARE OR THE DELAWARE CHANCERY COURT
IN NEW CASTLE COUNTY, DELAWARE (COLLECTIVELY THE “DESIGNATED COURTS”). EACH PARTY HEREBY CONSENTS AND SUBMITS
TO THE EXCLUSIVE JURISDICTION OF THE DESIGNATED COURTS. NO LEGAL ACTION, SUIT OR PROCEEDING WITH RESPECT TO THIS AGREEMENT MAY BE BROUGHT
IN ANY OTHER FORUM. EACH PARTY HEREBY IRREVOCABLY WAIVES ALL CLAIMS OF IMMUNITY FROM JURISDICTION AND ANY OBJECTION WHICH SUCH PARTY
MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING IN ANY DESIGNATED COURT, INCLUDING ANY RIGHT TO OBJECT
ON THE BASIS THAT ANY DISPUTE, ACTION, SUIT OR PROCEEDING BROUGHT IN THE DESIGNATED COURTS HAS BEEN BROUGHT IN AN IMPROPER OR INCONVENIENT
FORUM OR VENUE. EACH OF THE PARTIES ALSO AGREES THAT DELIVERY OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT TO A PARTY HEREOF IN COMPLIANCE
WITH SECTION 8.8 SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING IN A DESIGNATED COURT WITH RESPECT TO
ANY MATTERS TO WHICH THE PARTIES HAVE SUBMITTED TO JURISDICTION AS SET FORTH ABOVE.

 

Section
8.7 Waiver of Jury Trial. EACH OF THE PARTIES WAIVES THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING OUT OR RELATED TO THIS AGREEMENT IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE
PARTIES AGAINST ANY OTHER PARTY OR ANY AFFILIATE OF ANY OTHER SUCH PARTY, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS OR OTHERWISE.
THE PARTIES AGREE THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING,
THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM
OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR ANY PROVISION
HEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.

 

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Section
8.8 Notices. All notices, requests, demands, claims, and other communications hereunder will be in writing. Any notice, request,
demand, claim, or other communication hereunder shall be deemed duly given (a) when delivered personally to the recipient, (b) when sent
by electronic mail or facsimile, on the date of transmission to such recipient, (c) one Business Day after being sent to the recipient
by reputable overnight courier service (charges prepaid), or (d) four Business Days after being mailed to the recipient by certified
or registered mail, return receipt requested and postage prepaid, and addressed to the intended recipient as set forth below:

 

	 	If
                                            to Orgenesis	Orgenesis
                 Inc.
		Parent:	20271
                                            Goldenrod Lane

                                            Germantown, MD 20876

                                            Attention: Vered Caplan

                                            Email: vered.c@orgenesis.com

 

	 	Copy
  to:	Pearl
  Cohen Zedek Latzer Baratz LLP

  1500 Broadway

  New York, NY 10036

  Attention: Mark Cohen

  Email: MCohen@PearlCohen.com

 

	 	If
  to the Company:	Morgenesis
  LLC

  c/o Pearl Cohen Zedek Latzer Baratz LLP

  1500 Broadway

  New York, NY 10036

  Attention: Mark Cohen, Esq.

  Email: MCohen@PearlCohen.com

 

	 	Copy
  to:	Pearl
  Cohen Zedek Latzer Baratz LLP

  1500 Broadway

  New York, NY 10036

  Attention: Mark Cohen

  Email: Mcohen@PearlCohen.com

 

Any
Party may change the address to which notices, requests, demands, claims, and other communications hereunder are to be delivered by giving
the other Party notice in the manner herein set forth.

 

Section
8.9 Counterparts; Effectiveness. This Agreement may be signed in any number of counterparts, and by each Party on separate counterparts.
Each such counterpart shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.
This Agreement shall become effective when each Party hereto shall have received a counterpart hereof signed by the other Party. Until
and unless each Party has received a counterpart hereof signed by the other Party, this Agreement shall have no effect and no Party shall
have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication). Delivery of
a counterpart hereof by email attachment shall be an effective mode of delivery.

 

Section
8.10 Headings. The section headings contained in this Agreement are inserted for convenience only and shall not affect in any
way the meaning or interpretation of this Agreement.

 

Section
8.11 No Third Party Beneficiaries. Except as expressly set forth herein, no provision of this Agreement is intended to confer
any rights, benefits, remedies, obligations, or liabilities hereunder upon any Person, other than the Parties and their respective successors
and assigns; provided, that the Investor shall be an express third-party beneficiary of this Agreement, this Agreement shall expressly
inure to the benefit of the Investor, and the Investor shall be entitled to rely on and enforce the provisions of this Agreement.

 

Section
8.12 Relationship of the Parties. Orgenesis Parent shall perform all Services described hereunder as an independent contractor,
and this Agreement is not intended to and does not, and any course of dealing contemplated by providing the Services hereunder will not,
create a fiduciary relationship, joint venture, partnership, employment or relationship of trust or agency between the Parties. Neither
Party shall have, nor shall either Party hold itself out as having, any power or right, either express or implied, to bind the other
Party contractually unless such other Party shall consent thereto in writing.

 

Section
8.13 Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction
shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the
offending term or provision in any other situation or in any other jurisdiction.

 

[Signature
page follows.]

 

    	7

     

    

 

IN
WITNESS WHEREOF, authorized representatives of the Parties are signing this Agreement as of the Execution Date.

 

	 	Morgenesis
    LLC 
	 	 
	 	By:	/s/
    Vered Caplan
	 	Name:	Vered
    Caplan
	 	Title:	Chief
    Executive Officer

 

	 	Orgenesis
    Inc.
	 	 
	 	By:	/s/
    Vered Caplan
	 	Name:	Vered
    Caplan
	 	Title:	Chief
    Executive Officer

 

[Signature
Page to Services Agreement]

 

    	 

    	 

    

 

SCHEDULE
I

 

SERVICES

 

    	I-1

    	 

    

 

SCHEDULE
II

 

PAYMENT

 

    	II-1Exhibit 10.4

 

ADVISORY
SERVICES AND MONITORING AGREEMENT

 

This
Advisory Services AND MONITORING Agreement (this “Agreement”) is entered
into as of November 4, 2022, by and between Morgenesis LLC, a Delaware limited liability company (the “Company” and,
together with its subsidiaries, the “Company Group”), and Metalmark Management II LLC (the “Advisor”).

 

WHEREAS,
on November 4, 2022, MM OS Holdings, L.P., a Delaware limited partnership (the “Investor”), the Company and Orgenesis
Inc., a Nevada corporation (the “Purchase Agreement”), entered into that certain Unit Purchase Agreement, pursuant
to which, among other things, the Company agreed to issue 3,019,651 Class A Preferred Units (as defined in the Purchase Agreement) to
the Investor in exchange for the Initial Investment (as defined in the Purchase Agreement) (the “Acquisition”); and

 

WHEREAS,
the Company and Advisor desire to enter into this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

Section
1. Appointment. (a) The Company hereby appoints
the Advisor, or its designees, as one of its advisors with respect to the following services to the extent appropriate and requested
by the Company or any member of the Company Group: (i) assisting the Company or any member of the Company Group in analyzing its operations
and historical performance; (ii) assisting the Company or any member of the Company Group in analyzing future prospects; (iii) assisting
the Company or any member of the Company Group with respect to future proposals for tender offers, acquisitions, sales, mergers, financings,
exchange offers, recapitalizations, restructurings or other similar transactions that may be consummated during the term of this Agreement;
and (iv) providing financial and business monitoring services, including with respect to assisting the Company or any member of the Company
Group in preparing a strategic plan.

 

(b)
The Advisor does not make any representations or warranties, express or implied, in respect of the services to be provided by the Advisor
or any of its designees hereunder. In no event shall the Advisor or any of its affiliates be liable to the Company, any other member
of the Company Group or any of their respective affiliates for any act, alleged act, omission or alleged omission that does not constitute
gross negligence or willful misconduct of the Advisor or its designee as determined by a final, non-appealable determination of a court
of competent jurisdiction.

 

Section
2. Payment of Fees. (a) Quarterly Fee.
In consideration of the ongoing management and other advisory services to be provided by the Advisor to the Company and any other member
of the Company Group under this Agreement, the Advisor shall be entitled to a quarterly fee in cash in an amount equal to 0.25% of the
total amount invested by the Investor in the Company as of the date of payment. The Company shall (or shall cause one of its subsidiaries
to) promptly pay, to the extent permissible under the Company’s financing arrangements or, in the case of a subsidiary, such subsidiary’s
financing arrangements (and to the extent not permissible, such amounts shall continue to accrue and accumulate in accordance with Section
2(c)), the quarterly fees on each January 1, April 1, July 1 and October 1 (or the next business day thereof if such date is not a business
day) throughout the duration of this Agreement, with the balance of the accrued but unpaid quarterly fees to be paid upon the termination
of this Agreement.

 

    	 

    	 

    

 

(b)
Payments and reimbursements made to the Advisor pursuant to this Section 2 will be paid by check or wire transfer of immediately available
funds to an account specified by the Advisor in writing to the Company.

 

(c)
For the avoidance of doubt, to the extent the Company does not pay (or cause to be paid) any fees contemplated by this Agreement if such
payment is prohibited pursuant to the terms of any credit agreement, or indenture or debt instrument binding on the any member of the
Company Group, the payment by the Company to the Advisor of any accrued and payable fees will be payable immediately on the earlier of
(i) the first date on which the Company is permitted to make such payment and (ii) the termination of this Agreement; provided,
that in the event any such lender so requires, the fees shall continue to accrue and shall be payable on such future date when the Company
is permitted to pay the fees under such loan agreement. The Advisor shall agree to subordinate its rights to receive payment of fees
to any indebtedness of the Company to a third party lender, to the extent required by such lender.

 

Section
3. Reimbursement of Expenses. In consideration
of the time, effort and expense that has been and will be expended or incurred by or on behalf of the Advisor in connection with the
Acquisition or otherwise under this Agreement, the Company agrees to reimburse the Advisor from time to time upon request for all reasonable
out-of-pocket costs, fees and expenses incurred by or on behalf of the Advisor in connection with or related thereto, whether incurred
before or after the date hereof, including with respect to: (i) accountants, attorneys, recruitment firms and other consultants hired
by the Advisor, to the extent not otherwise paid by the Company, (ii) performance of due diligence investigations by the Advisor or any
such external consultants, (iii) the preparation, negotiation and execution of any agreements between the Advisor and any member of the
Company Group or any of their respective senior executives and/or any other shareholders of any member of the Company Group relating
thereto, (iv) any subsequent amendments or waivers (whether or not the same become effective) under or in respect of any such agreements,
(v) governmental and regulatory filings made by or on behalf of the Advisor in connection therewith, (vi) ongoing matters affecting any
member of the Company Group, such as equity incentive plans, acquisitions or financing transactions and (vii) the Advisor’s ongoing
monitoring of the affairs of the Company Group (including all reasonable travel and related expenses and ongoing industry and company
analyses); provided, however, that such expenses (other than any reasonable travel and related expenses) shall not exceed $50,000 per
year (provided that, for the avoidance of doubt, such cap shall not apply to any expenses pursuant to Section 6).

 

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Section
4. No Exclusive Duty to the Company Group. (a)
In recognition that (i) the Advisor currently has, and will in the future have or will consider acquiring, investments in numerous companies
with respect to which the Advisor may serve as an advisor, a director or in some other capacity, (ii) the Advisor may have duties to
various investors, stockholders and partners, (iii) the Advisor (or one or more affiliates, associated investment funds or portfolio
companies) may engage in the same or similar activities or lines of business as the Company or any other member of the Company Group
and have an interest in the same areas of corporate opportunities, (iv) the members of the Company Group will derive certain benefits
hereunder and (v) the Advisor, in desiring and endeavoring fully to satisfy its duties, may confront difficulties in determining the
full scope of such duties in any particular situation, the provisions of this ‎Section 4 are set forth to regulate, define and guide
the conduct of certain affairs of the Company and other members of the Company Group as they may involve the Advisor.

 

(b)
Notwithstanding anything to the contrary contained herein, (i) the Advisor shall not be required to manage, monitor or advise the Company
or any member of the Company Group as its sole and exclusive function and it, and any of its affiliates, may have other business interests
and may engage in other activities in addition to those relating to the Company and the Company Group, and such other business interests
or activities may be of any nature or description, may be competitive with the Company or any member of the Company Group and may be
engaged in independently or with others, and (ii) neither the Company nor any other member of the Company Group shall have any right,
by virtue of this Agreement or the relationship created hereby, in or to such other ventures or other activities of the Advisor or any
of its affiliates, or to the income or proceeds derived therefrom, and the pursuit of such ventures, even if competitive with any member
of the Company Group’s business, shall not be deemed wrongful or improper.

 

Section
5. Non-Recourse. No past, present or future director,
officer, employee, incorporator, member, partner, stockholder, affiliate, agent, attorney or representative of the Advisor, any member
of the Company Group or any of their respective affiliates shall have any liability for any obligations or liabilities of the Advisor,
any member of the Company Group or any of their respective affiliates under this Agreement or for any claim based on, in respect of,
or by reason of, the transactions or other matters contemplated hereby.

 

Section
6. Indemnity and Liability.

 

(a)
The Company hereby indemnifies, defends and agrees to exonerate and hold the Advisor and each of its partners, shareholders, members,
affiliates, directors, officers, fiduciaries, employees and agents and each of the partners, shareholders, members, affiliates, directors,
officers, fiduciaries, employees and agents of each of the foregoing (collectively, the “Indemnitees”) free and harmless
from and against any and all actions, causes of action, suits, claims and liabilities and expenses in connection therewith, including
without limitation reasonable attorneys’ fees and charges (collectively, the “Indemnified Liabilities”), incurred
by the Indemnitees or any of them as a result of, arising out of, or in any way relating to (A) this Agreement, the Acquisition or any
related transactions or (B) operations of, or services provided by the Advisor to the Company Group or its affiliates from time to time
(including but not limited to any indemnification obligations assumed or incurred by any Indemnitee to or on behalf of any member of
the Company Group, or any of its accountants or other representatives, agents or affiliates) except for any such Indemnified Liabilities
arising on account of such Indemnitee’s gross negligence or willful misconduct, and if and to the extent that the foregoing undertaking
may be unenforceable for any reason, the Company hereby agrees to make the maximum contribution to the payment and satisfaction of each
of the Indemnified Liabilities which is permissible under applicable law. Save as set out in any express agreement entered into after
the date of this Agreement, none of the Indemnitees shall be liable to the Company or any of its affiliates for any act or omission suffered
or taken by such Indemnitee that does not constitute gross negligence or willful misconduct.

 

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(b)
Notwithstanding anything to the contrary contained herein or in the articles of association, certificate of incorporation, bylaws or
any other organizational documents of any member of the Company Group, the Company acknowledges and agrees that although under certain
circumstances certain Indemnitees may be entitled to indemnification and expense advancement and/or reimbursement from affiliates of
such Indemnitee (including without limitation, the general partner, management company or their respective affiliates of any Indemnitee)
(collectively, “Related Parties”) in connection with claims made against any such Indemnitee, the obligations of the
Company hereunder and/or under the articles of association, certificate of incorporation, bylaws, any director indemnification agreement
or other organizational documents of the Company with respect to any claim by an Indemnitee are primary to any obligations of any Related
Party with respect thereto and the Indemnitee will not be obligated to seek indemnification from or expense advancement or reimbursement
by any Related Party with respect to any claim. In addition: (A) the Company, on behalf of itself, the other members of the Company Group
and any insurers providing liability insurance, hereby waives any rights of contribution or subrogation or any other right from or against
each and every Related Party and every insurer providing liability insurance to any Related Party and/or any Indemnitee with respect
to any claim and (B) the Company acknowledges and agrees that if any Related Party provides indemnification, expense advancement, expense
reimbursement or otherwise to an Indemnitee with respect to any liabilities, including Indemnified Liabilities, such Related Party(ies)
shall be subrogated to the extent of such payment to all rights of recovery of Indemnitee under this Agreement or the articles of association,
certificate of incorporation, bylaws, any director indemnification agreement or other organizational documents of the Company, as applicable.
Each of the Indemnitees and Related Parties is an intended third party beneficiary of this Section 6(b) and the Company agrees to take
such further action as may be requested by any Indemnitee or Related Party to effectuate the contractual arrangement between the Company
and the Indemnitees and Related Parties as set forth herein.

 

Section
7. Governing Law; Submission to Jurisdiction; Waiver
Of Jury Trial. (a) This Agreement shall be governed by, and construed under, the laws of the State of Delaware, and all rights
and remedies shall be governed by said laws, without regard to conflict of laws principles. To the fullest extent permitted by law, the
parties hereto agree that any claim, suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out
of or in connection with, this Agreement or the other agreements or transactions contemplated hereby shall only be brought in the Chancery
Court of the State of Delaware (or other appropriate state court in the State of Delaware) or the Federal courts located in the State
of Delaware and not in any other State or Federal courts located in the United States of America or any court in any other country, and
each of the parties hereby consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such
suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter
have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding
which is brought in any such court has been brought in an inconvenient forum. To the fullest extent permitted by law, process in any
such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such
court.

 

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(b)
EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED
TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section
8. Miscellaneous. 

 

(a)
Severability. If in any judicial or arbitral proceedings a court or arbitrator shall refuse to enforce any provision of this Agreement,
then such unenforceable provision shall be deemed eliminated from this Agreement for the purpose of such proceedings to the extent necessary
to permit the remaining provisions to be enforced. To the full extent, however, that the provisions of any applicable law may be waived,
they are hereby waived to the end that this Agreement be deemed to be valid and binding agreement enforceable in accordance with its
terms, and in the event that any provision hereof shall be found to be invalid or unenforceable, such provision shall be construed by
limiting it so as to be valid and enforceable to the maximum extent consistent with and possible under applicable law.

 

(b)
Counterparts. This Agreement may be executed in any number of counterparts and by each of the parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of which together shall constitute one and the same agreement.
A signed copy of this Agreement delivered by facsimile, email or other means of electronic transmission shall be deemed to have the same
legal effect as delivery of an original signed copy of this Agreement.

 

(c)
Amendments and Waivers. No amendment or waiver of any term, provision or condition of this Agreement shall be effective, unless
in writing and executed by the Advisor and the Company. No waiver on any one occasion shall extend to or effect or be construed as a
waiver of any right or remedy on any future occasion. No course of dealing of any person nor any delay or omission in exercising any
right or remedy shall constitute an amendment of this Agreement or a waiver of any right or remedy of any party hereto.

 

(d)
Assignment. The provisions of this Agreement will be binding upon and inure to the benefit of the parties hereto and their successors
and permitted assigns. No party shall assign this Agreement to any other person hereunder without the prior written consent of the other
party; provided that any assignment by the Advisor of its rights, interests or obligations under this Agreement to any of its
affiliates shall be expressly permitted hereunder and shall not require the prior written consent of the Company.

 

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IN
WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its behalf by its duly authorized officer or representative
as of the date first above written.

 

	 	Morgenesis
    LLC 
	 	 	 
	 	By:	/s/
    Howard Hoffen
	 	Name:	Howard
    Hoffen
	 	Title:	Authorized
    Signatory

 

	 	Metalmark
    Management II LLC
	 	 	 
	 	By:	/s/
    Vered Caplan
	 	Name:	Vered
    Caplan
	 	Title:	Chief
    Executive Officer

 

[Signature
Page to Advisory Services and Monitoring Agreement]

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