Document:

Exhibit 10.7

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY [...***...], HAS BEEN OMITTED BECAUSE ARTARA THERAPEUTICS, INC. HAS DETERMINED THE INFORMATION
(I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO ARTARA THERAPEUTICS, INC. IF PUBLICLY DISCLOSED.

 

Agreement

 

This Agreement (this “Agreement”),
dated and effective as of June 17th, 2019 (the “Effective Date”), is entered into by and between
CHUGAI PHARMACEUTICAL CO., LTD., a company organized and existing under the laws of Japan, having its principal office at 1-1 Nihonbashi-Muromachi
2-chome, Chuo-ku, Tokyo 103-8324, Japan (“Chugai”) and ARTARA THERAPEUTICS INC., a corporation organized under
the laws of the state of Delaware, U.S.A., having its principal office at 1 Little West 12th Street, New York, NY 10014
(“ArTara”) (collectively, the “Parties,” or each, individually, a “Party”).

 

WHEREAS, Chugai has developed and commercialized
in the Chugai Territory (as defined in Schedule 1 below) a therapeutic product, OK-432, which is known in the market as
 “Picibanil®” (the “Existing Product”) and owns or controls certain materials and documents
relating to the Existing Product;

 

WHEREAS, ArTara has experience and expertise
in developing and commercializing therapeutic products comparable to the Existing Product in the United States (as defined in Schedule
1 below) and in certain other countries around the world;

 

WHEREAS, ArTara desires to develop a New
Product (as defined in Schedule 1 below) that is a therapeutic product comparable to the Existing Product for commercialization
in the United States and certain other countries on the terms and conditions set forth herein;

 

WHEREAS, Chugai desires to provide to ArTara
certain materials and documents relating to the Existing Product and to provide certain technical services to ArTara for its development
and commercialization of the New Product on the terms and conditions set forth herein; and

 

WHEREAS, Chugai desires to accomplish the
Site Transfer (as defined in Schedule 1 below) on the terms and conditions set forth herein.

 

NOW, THEREFORE, the Parties hereby agree
as follows:

 

1.           Definitions.
For purposes of this Agreement, capitalized terms used in this Agreement shall have the meanings set forth in Schedule 1.

 

2.           Development
Project Activities.

 

    	 	1	 

     

    

 

2.1         Key Roles and Responsibilities. Subject to the development plan set forth in Section 2.2:

 

(a)          Chugai
shall provide ArTara with access to the Chugai Materials and provide technical support during the Chugai Service Period, to the
extent requested by ArTara and deemed reasonably necessary by Chugai for ArTara’s use in the development and commercialization
of the New Product. During the Chugai Service Period, Chugai shall not provide Existing Product or Chugai Materials to any Third
Parties other than for medical, compassionate use and/or non-commercial research purposes. Further, during the period from the
Effective Date until (x) fifth anniversary of the Effective Date or (y) this Agreement is terminated by Chugai for a material
breach or default by ArTara in accordance with Section 8.4(a), insolvency, etc. of ArTara in accordance with Section
8.4(b) or Change of Control in accordance with Section 8.4(c), whichever comes earlier, Chugai shall not provide Chugai
Materials or technical support to any Third Party for the purpose of the development and commercialization in the ArTara Territory
of a therapeutic product comparable to the Existing Product;

 

(b)         ArTara
shall be solely responsible, at its sole cost and expense, for the development and commercialization of the New Product in the
ArTara Territory (including obtaining and maintaining of required licenses and approvals for the New Product, communication and
negotiation with the FDA and other relevant Regulatory Authorities, manufacturing, sales and marketing of the New Product); and
shall give Chugai access, free of charge, to all information, data (including pre-clinical, clinical and manufacturing data),
documentation, materials and know-how related to the New Product that are owned or controlled by ArTara, to the extent reasonably
necessary for Chugai to (x) complete the Site Transfer for the Existing Product and partial change application therefor in the
Chugai Territory and (y) maintain the Marketing Authorization of the Existing Product in the Chugai Territory. Such development
and commercialization of the New Product by ArTara shall be aimed toward securing a product comparable to the Existing Product
that will satisfy Japanese and Taiwanese regulatory requirements for Chugai to complete the Site Transfer for the Existing Product.
ArTara shall not use or permit any Third Parties to use the Chugai Service Deliverables for any purpose other than such development
and commercialization of the New Product;

 

(c)          Chugai
shall perform any regulatory activities in the Chugai Territory necessary for the Site Transfer at its sole cost and expense.
Upon Chugai’s request, ArTara shall conduct for Chugai additional studies, which may be required due to Japanese and Taiwanese
regulatory requirements; provided, however, that the costs therefor shall be borne by Chugai to the extent such studies are required
solely for the Chugai Territory;

 

(d)         So long as Chugai does not exercise the Opt-Out Option and continues with the Site Transfer, ArTara shall provide Chugai,
at no cost (unless otherwise consented to in advance by Chugai), with support services reasonably required for Chugai to (1) complete
the Site Transfer and partial change application therefor in the Chugai Territory and (2) maintain the Marketing Authorization
of the Existing Product in the Chugai Territory; and shall cause the CMO to manufacture and supply to Chugai quantities of the
Existing Product necessary to meet Chugai’s commercial requirements in the Chugai Territory. ArTara shall, or shall cause
the CMO to, enter into a toll manufacturing and supply agreement with Chugai for such Existing Product (“Product Supply
Agreement”); and

 

(e)         The
supply price of the Existing Product under the Product Supply Agreement will be decided using the mark-up method and will not
exceed the CMO’s (if there is no CMO, ArTara’s) direct cost for manufacturing the New Product plus [...***...]
of such cost.

 

    	 	2	 

     

    

 

2.2         Development
Plan. The initial development plan for the New Product is set forth in Schedule 3 attached hereto. The Parties will
discuss and amend the development plan as necessary from time to time subject to the Parties’ mutual agreement.

 

2.3         CMO.

 

(a)         Subject
to Chugai’s prior written consent, which shall not be unreasonably withheld, ArTara may engage one or more CMOs, which meet
the requirements set forth in Schedule 4 attached hereto, to perform the development or manufacturing activities under
this Agreement exclusively for ArTara’s and Chugai’s (and any Third Parties developing and commercializing Product
under contract with ArTara or Chugai) benefit; provided, however, that any contract entered into by ArTara with a CMO will not
relieve ArTara of any of its obligations under this Agreement. ArTara shall keep Chugai informed of each contract entered into
with a CMO, specifying the name of the CMO and the material terms (including duration) of the contract.

 

(b)         Compliance
of CMOs. ArTara is responsible for the compliance of its CMOs with the terms and conditions of this Agreement, and any act
or omission of a CMO that would be a breach of this Agreement if performed by ArTara will be deemed to be a breach by ArTara.
If a CMO no longer meets the requirements set forth in Schedule 4, ArTara shall promptly notify Chugai of such failure,
and ArTara shall terminate such non-qualifying CMO and subcontract a different CMO to develop or manufacture the Product at its
manufacturing facility or plant.

 

(c)          Inspection
or audit of CMO by Chugai. ArTara and Chugai shall each enter into direct quality agreements with the CMO providing standard
provisions regarding all matters related to quality control, cGMP and related regulatory requirements as well as standard audit
and compliance reviews and access to regulatory actions and records. Such standard audit and compliance provisions will include
the right to conduct annual quality audits of the CMO during normal business hours at such times are mutually agreeable. ArTara
and Chugai agree to co-ordinate their audits of the CMO and to jointly conduct the CMO audits in order to avoid unnecessary duplication
and/or disruption of the CMO. In addition, ArTara shall(i) afford Chugai and its representatives full and free access, during
regular business hours, to ArTara’s records and audit findings with respect to the CMO, (ii) furnish Chugai with such additional
financial, operating, and other relevant data available to ArTara as Chugai may reasonably request, and (iii) otherwise cooperate
and assist, to the extent reasonably requested by Chugai, with Chugai’s audit of such CMO’s compliance with the standards
set forth in Schedule 4. If Chugai reasonably determines that any CMO does not comply with such standards, Chugai shall
provide written notice to ArTara of Chugai’s decision, and ArTara shall take appropriate actions to terminate such non-qualifying
CMO and subcontract a different CMO to develop or manufacture the Product at its manufacturing facility or plant in a manner so
as to maintain Product supply.

 

    	 	3	 

     

    

 

2.4         Chugai’s Reserved Rights. Chugai hereby expressly reserves all rights under the Chugai Service Deliverables,
except as expressly permitted in this Agreement or other written agreement between the Parties.

 

2.5         Reporting.

 

(a)          ArTara shall report to Chugai any development and the status of ArTara’s activities under this Agreement, by submitting
documentation and via video or telephonic conference at least once every [...***...] during the Term. In case there is
any Third Party developing and commercializing Product under contract with ArTara, ArTara shall report to Chugai as such. In addition,
ArTara shall report [...***...] to Chugai the status and the results of its consultations with the FDA with regard to
the manufacturing and development plan of the New Product.

 

(b)         From time to time, Chugai shall report to ArTara the status and the results of its consultations with the PMDA that result
in substantial progress with regard to the regulatory requirements for the Site Transfer.

 

2.6         Site
Transfer Opt-Out Option.

 

(a)         Chugai shall have the right to discontinue the Site Transfer at its sole discretion (the “Opt-Out Option”).
The Opt-Out Option may be exercised by Chugai by providing written notice to ArTara within [...***...] after the latter
of the following:

 

(i)          Chugai’s receipt of a final report of the consultations by ArTara with the FDA with regard to the manufacturing and
development plan of the New Product that aims to secure a product comparable to the Existing Product; or

 

(ii)         Completion
of Chugai’s consultations with the PMDA with regard to the regulatory requirements for the Site Transfer.

 

(b)         In
the event that the Opt-Out Option is exercised, thereafter ArTara will have no obligation to manufacture or supply the Existing
Product to Chugai and may continue to develop the New Product for its own benefit.

 

2.7         New Product Opt-In Option.

 

(a)         Chugai
shall have a right of first refusal on terms to be negotiated between the Parties for a license related to the New Product-relevant
information, data and documentation and Inventions to develop and commercialize the New Product in the Chugai Territory under
a new license and approval to be obtained from the Japanese Regulatory Authorities (the “Opt-In Option”). The
Opt-In Option may be exercised by written notice to ArTara within [...***...] of FDA approval of the New Product.

 

(b)         In
the event that the Opt-In Option is exercised by Chugai,

 

    	 	4	 

     

    

 

(i)          Chugai will be solely responsible, at its sole cost and expense, for the development and commercialization of the New Product
(including the obtaining and maintaining of required licenses and approvals for the New Product, communication and negotiation
with the PMDA and other relevant Regulatory Authorities, sales and marketing of the New Product) in the Chugai Territory. For clarity,
manufacturing of the New Product for the Chugai Territory is excluded from Chugai’s responsibilities; and

 

(ii)         ArTara will be responsible for manufacturing and supplying or causing the CMO to manufacture and supply the New Product
to Chugai, to meet Chugai’s clinical and commercial requirements in the Chugai Territory. ArTara shall, or shall cause the
CMO to, enter into an agreement or agreements for the New Product with Chugai (“New Product Agreement”).

 

(c)         The supply price of the New Product under the New Product Agreement will be decided using the mark-up method and will not
exceed the CMO’s (if there is no CMO, ArTara’s) direct cost for manufacturing the New Products plus [...***...]
of such cost.

 

2.8         Improvements.

 

(a)         During the Term, ArTara shall notify Chugai of any improvements or inventions developed by ArTara, its Affiliates and/or
the CMO arising out of the Chugai Service Deliverables (“Inventions”) and shall enter into good faith discussions
with Chugai on how the ownership and license related to the Inventions will be treated.

 

(b-i)      Chugai will have a non-exclusive,
free-of-charge, license (sublicensable, through multiple tiers, to a Third Party), for the Existing Product to be developed and
commercialized in the Chugai Territory, to any Existing Product manufacturing and/or process improvements, inventions or know-how
(“Existing Product Improvements”) developed by ArTara, its Affiliates and/or the CMO (independent from Chugai)
during the Term (including the Inventions) that would be submissible to the Japanese or the Taiwanese Regulatory Authorities in
connection with the partial change application for Existing Product in the Chugai Territory. For clarity, Chugai is entitled to
non-exclusively use any such improvement, invention or know-how to develop, register, import, use, sell and market the Existing
Product in the Chugai Territory and to use the same to manufacture and have manufactured the Existing Product in and outside the
Chugai Territory for sale of the Existing Product in the Chugai Territory. In the event Existing Product Improvements are available
from a Third Party (other than the CMO) that would be require (i) a new partial change application in the Chugai Territory and/or
(ii) payments of any kind to such Third Parties, ArTara and Chugai will discuss the advantages to the Parties of such Existing
Product Improvements and acquire or license them only upon mutual agreement of the Parties.

 

    	 	5	 

     

    

 

(b-ii)      In
the event Chugai exercises the Opt-In Option with respect to New Product, Chugai will have a non-exclusive, free-of-charge, license
(sublicensable, through multiple tiers, to a Third Party) in the Chugai Territory to any New Product improvements, inventions
or know-how (“New Product Improvements”) developed by ArTara, its Affiliates and/or the CMG (independent from Chugai)
during the Term (including the Inventions). For clarity, Chugai is entitled to non-exclusively use any such New Product Improvements
to develop, register, import, use, sell and market the New Product in the Chugai Territory and to use the same to manufacture
and have manufactured the New Product in and outside the Chugai Territory for sale of the New Product in the Chugai Territory.
In addition, during the Term Chugai will have the option to sublicense from ArTara for the Chugai Territory any New Product Improvements
acquired or licensed from a Third Party (other than the CMG) to develop, register, import, use, sell and market the New Product
in the Chugai Territory and to use the same to manufacture and have manufactured the New Product in and outside the Chugai Territory
for sale of the New Product in the Chugai Territory on substantially the same terms and conditions as applicable to ArTara.

 

(c)         During
the Term, Chugai will have a right of first refusal to a license, for the Products to be developed and commercialized in the Chugai
Territory, to any improvements, inventions or know-how developed by ArTara, its Affiliates and/or the CMO (including the Inventions)
related to the Field (“Field Improvements”) that would require a new regulatory submission to the Japanese or the
Taiwanese Regulatory Authorities outside of the current approval and its maintenance including the site transfer for the Existing
Product. In addition, during the Term Chugai will have the option to sublicense from ArTara for the Chugai Territory any Field
Improvements acquired or licensed from a Third Party (other than the CMG) to develop, register, import, use, sell and market the
Products in the Chugai Territory and to use the same to manufacture and have manufactured the Products in and outside the Chugai
Territory for sale of the relevant Product in the Chugai Territory on substantially the same terms and conditions as applicable
to ArTara.

 

(d)         ArTara shall fully cooperate and take all further actions, as Chugai may reasonably request, to effectuate the allocation
of ownership and license set forth in this Section 2.8.

 

2.9         Pharmacovigilance
for New Product.

 

ArTara will be responsible for
the pharmacovigilance requirements for the New Product. If Chugai is developing or commercializing the New Product in the Chugai
Territory, Chugai will be responsible for the pharmacovigilance reporting therein. ArTara will take the lead on global pharmacovigilance
activity for the New Product. The details of the pharmacovigilance activities for the New Product will be specified in separate
agreements to be entered into between the Parties.

 

    	 	6	 

     

    

 

3.           Governance.

 

3.1         Structure.

 

(a)          A
Joint Steering Committee (the “JSC”) shall be organized by representatives of the Parties and shall oversee,
review and manage all aspects of the development of the New Product in view of comparability between the Existing Product and
the New Product, which include the matters listed below:

 

-    the pre-clinical and clinical
developments and regulatory affairs activities of the New Product;

-    manufacturing development
status of the New Product; and

-    Site Transfer plan.

 

(b)         Meetings
of the JSC shall be held [...***...] per year, in principle, and otherwise on an as needed basis. Meetings may be held
in person or in such form, including by telephone or video conference, as the JSC determines.

 

(c)         The
JSC shall consist of an equal number of [...***...] representatives of each Party. Co-chairpersons of the JSC shall
be appointed by Chugai and ArTara respectively.

 

(d)         The
representatives of the JSC shall endeavor in good faith to reach decisions by consensus; but, in the absence of consensus, decisions
shall be made by vote, with [...***...], and in the event of a tie the co-chairperson representing [...***...]
having the tie-breaking vote, except for matters or activities which costs are to be borne by [...***...] hereunder.

 

3.2         Limitation of Power. The JSC shall have only such powers as are specifically delegated to it hereunder and will not
be a substitute for exercising the rights of the Parties. Without limiting the generality of the foregoing, the JSC shall have
no right to amend this Agreement, or any of the ancillary agreements hereto.

 

4.           Payments.

 

4.1         ArTara
will pay Chugai a total of [...***...] US Dollars (US$[...***...]) as consideration for Chugai’s performance
under this Agreement. Payment shall be made in two (2) one-time payments in the amounts of (a) [...***...] US Dollars
(US$[...***...]) and (b) [...***...] US Dollars (US$[...***...]).

 

4.2         Payment
Terms.

 

(a)          Invoices. Chugai will issue to ArTara invoices of (i) US$[...***...] in July 2020 and (ii) US$[...***...]
upon receipt of notice of the issuance of the FDA approval of the New Product.

 

(b)         Payment
Terms. ArTara shall pay the full amount of each invoice by [...***...]. ArTara shall make all payments in US Dollars
by wire transfer of immediately available funds to a bank account designated in writing by Chugai.

 

(c)         Late
Payments. If any payment or portion thereof is not received by Chugai within [...***...] after becoming due, ArTara
shall pay to Chugai interest on the overdue payment from the date such payment was due to the date of actual payment at [...***...]
percent ([...***...]%) per annum.

 

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(d)         Taxes.
All sums payable under this Agreement are exclusive of taxes. ArTara is responsible for all sales, use, excise, and value added
taxes, and any other similar taxes, duties, and charges of any kind imposed by any national, federal, prefectural, state, or local
governmental authority on any amounts payable by ArTara hereunder, other than any taxes imposed on, or with respect to, Chugai’s
income, revenues, gross receipts, personnel, or real or personal property, or other assets, and shall pay all sums payable hereunder
free and clear of all deductions and withholdings whatsoever, unless the deduction or withholding is required by law. If any deduction
or withholding is required by law, ArTara shall pay to Chugai such sum as will, after the deduction or withholding has been made,
leave Chugai with the same amount as it would have been entitled to receive without any such requirement to make a deduction or
withholding. For avoidance of doubt, ArTara shall not be responsible for consumption and similar taxes in the Chugai Territory.

 

5.           Confidentiality; Publicity.

 

5.1         Confidentiality Obligations. Each Party acknowledges that it may receive or gain access to the other Party’s
Confidential Information during the Transaction. Except as provided in Section 5.2 or otherwise agreed in writing by the
Parties, each Party, as the receiving Party of the other Party’s Confidential Information, shall, during the Term and thereafter:

 

(a)         use
at least the same standard of care to protect and safeguard the confidentiality of the disclosing Party’s Confidential Information
as the receiving Party uses to protect its own Confidential Information (but no less than reasonable care); and

 

(b)         not
use or disclose, nor permit to be used or accessed, the disclosing Party’s Confidential Information for any purpose other
than to exercise the receiving Party’s rights or perform its obligations under this Agreement.

 

5.2         Exceptions. Notwithstanding the foregoing obligations of confidentiality and restrictions on use, the receiving Party
may disclose the disclosing Party’s Confidential Information:

 

(a)          to the receiving Party’s employees, agents, or independent contractors who have a need to know such Confidential Information
to assist the receiving Party or act on its behalf in accordance with Section 5.1(b); provided that the receiving Party
shall ensure compliance with, and be liable for any breach of, Section 5.1 by any such employees, agents, or independent
contractors; and

 

(b)         to
the extent necessary to comply with a court order or other applicable law, including regulations promulgated by security exchanges;
provided that the receiving Party shall provide prompt notice of such required disclosure to the disclosing Party and cooperate
with the disclosing Party’s efforts to obtain a protective order, confidential treatment, or other limitation on such required
disclosure.

 

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5.3          Injunctive
Relief. Given the nature of the Confidential Information and the competitive damage that a Party would suffer upon unauthorized
disclosure, use, or transfer of its Confidential Information, monetary damages may not be a sufficient remedy for any breach of
this Section 5. Therefore, in addition to all other remedies available at law, a Party is entitled to seek specific performance
and injunctive and other relief as a remedy for any breach or threatened breach of this Section 5 in accordance with Section
9.2.

 

5.4         Press Release; Public Announcements.

 

(a)         During
the Chugai Service Period, ArTara will provide Chugai a communication plan related to the New Product at each of the semi-annual
meetings of the JSC. This plan will detail anticipated press releases related to New Product development as well as planned submissions
of publications to scientific journals anticipated over the subsequent six (6)-month period. Chugai will have one (1) month to
comment and approve the plan, which approval shall not be unreasonably withheld, conditioned, or delayed. During the remaining
Term, ArTara will provide Chugai with an annual communication plan for its comment only.

 

(b)         Notwithstanding anything contrary provided herein, ArTara will not, in any case, refer to Chugai in any press release or
communication to media or any Third Party without Chugai’s prior written consent. Further, ArTara shall not directly or indirectly
disclose any data or result relating to the Existing Product without Chugai’s prior written consent. The foregoing shall
not apply to any disclosures required by law, or any legal or regulatory authorities.

 

6.           Representations
and Warranties; Covenants.

 

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

 

(a)         it is duly organized, validly existing, and in good standing, if applicable, under the laws of its jurisdiction of incorporation,
organization, or chartering, and has the full power and authority to enter into this Agreement and to perform its obligations;

 

(b)         the
execution of this Agreement by such Party’s representative whose signature is set forth at the end hereof has been duly
authorized by all necessary corporate or organizational action of such Party;

 

(c)         when
executed and delivered by such Party, this Agreement constitutes the legal, valid, and binding obligation of such Party, enforceable
against such Party in accordance with its terms; and

 

(d)         the execution, delivery, and performance of this Agreement by such Party does not violate, conflict with, require consent
under, or result in any breach of or default under (i) any applicable law or (ii) the provisions of any contract, instrument, or
understanding to which it is a party or by which it is bound.

 

    	 	9	 

     

    

 

6.2         Additional
Representations and Warranties of Chugai. The Chugai Service Deliverables are provided on an “as is” basis and
Chugai makes no representations and warranties as to the Chugai Service Deliverables.

 

6.3         Additional
Representations and Warranties of ArTara. ArTara represents and warrants to Chugai that, as of the Effective Date, ArTara
has not received notice of, nor is subject to, any adverse inspection, investigation, penalty, or other compliance or enforcement
action that could reasonably be expected to have a material adverse effect on the development of the New Product for the Chugai
Territory or other performance of its obligations under this Agreement.

 

6.4         Compliance with Laws. Each Party shall comply and shall ensure that its employees, agents. and independent contractors
(including subcontractors) comply with all applicable laws in the exercise of its rights and performance of its obligations under
this Agreement and any other ancillary agreements related hereto. Without limiting the foregoing, each Party shall, at its sole
expense, obtain and maintain during the Term all certifications, credentials, authorizations, licenses, and permits necessary to
conduct that portion of its business relating to development and commercialization of the New Product.

 

6.5         Disclaimer.
EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, EACH PARTY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES OF ANY KIND, WHETHER EXPRESS,
IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, SAFETY, ABSENCE
OF ERRORS OR OMISSIONS, ACCURACY, OR COMPLETENESS (INCLUDING ANY CONFIDENTIAL INFORMATION OR MATERIALS, TECHNICAL ASSISTANCE,
TECHNIQUES, OR PRACTICES DISCLOSED OR PROVIDED HEREUNDER), THE PROSPECTS OR LIKELIHOOD OF SUCCESS (FINANCIAL OR OTHERWISE) OF
THE TRANSACTION OR THE PRODUCTS, OR THE VALIDITY, SCOPE, OR NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS.

 

7.           Indemnification.

 

7.1         General
Liability.

 

(a)         Chugai
shall not be liable or responsible for any Claim arising out of, in connection with or related to the New Product and the supply
of the New Product and ArTara shall be liable or responsible for any and all the Claims arising out of, in connection with or
related to the New Product and the supply of the New Product, including for product liability in the ArTara Territory.

 

(b)         Notwithstanding
the foregoing (a), if Chugai exercises the Opt-In Option, Chugai shall be responsible for any Claim arising out of, in connection
with or related to the New Product in the Chugai Territory to the extent the Claim is solely attributable to Chugai.

 

    	 	10	 

     

    

 

7.2         Indemnification
by ArTara. ArTara agrees to indemnify, defend and hold harmless Chugai and its Affiliates from and against any and all liabilities,
claims, actions, suits, losses, damages, arbitration and legal proceedings, judgments, settlements, costs or expenses (including
reasonable attorney’s fees and expenses) (collectively, “Claims”) arising out of, resulting from, or
in connection with (i) the development and commercialization of the New Product by ArTara (including use of the Chugai Service
Deliverables), (ii) any breach by ArTara of any warranty, representation, covenant or agreement made by ArTara in this Agreement
or (iii) any negligence, gross negligence or willful misconduct of ArTara or its CMO, except, in each of the foregoing clauses
(i) through (iii), to the extent that any such Claim is attributable to any gross negligence or willful misconduct by Chugai in
the performance of its obligations under this Agreement.

 

7.3         Indemnification by Chugai. Chugai agrees to indemnify, defend and hold harmless ArTara from and against any and all
Claims arising out of, resulting from, or in connection with (i) any breach by Chugai of any warranty, representation, covenant
or agreement made by Chugai in this Agreement, or (ii) any negligence, gross negligence or willful misconduct of Chugai, except,
in each of the foregoing clauses (i) and (ii), to the extent that any such Claim is attributable to any gross negligence or willful
misconduct by ArTara in the performance of its obligations under this Agreement. For clarity, ArTara agrees that Chugai has no
liability or responsibility for any Claims arising out of, resulting from, or in connection with ArTara’s use of the Chugai
Service Deliverables.

 

7.4         Indemnification
Procedure. With respect to any Claim against a Party by a Third Party, the foregoing indemnification shall be conditioned
upon the indemnified Party (i) providing written notice to the indemnifying Party within [...***...] after the indemnified
Party has been given written notice of such Claim; (ii) permitting the indemnifying Party the opportunity to assume full responsibility
for the investigation and defense of any such Claim; and (iii) not settling or compromising any such Claim without the indemnifying
Party’s prior written consent.

 

7.5         Ancillary
Agreement Indemnification. Unless otherwise agreed between the relevant parties, the above indemnification terms in this Section
7 shall apply to the Product Supply Agreement, mutatis mutandis.

 

7.6         Insurance. During the Term, ArTara shall obtain and maintain at its own cost and expense from a qualified and reputable
insurance company liability insurance covering liabilities under this Agreement. During the respective terms of the Product Supply
Agreement and the New Product Agreement, ArTara shall obtain and maintain the same insurance coverage and shall ensure that its
CMO will obtain and maintain insurance coverage consistent with the insurance coverage for each of the agreements described above.

 

8.           Term
and Termination.

 

8.1         Term.
This Agreement is effective as of the Effective Date and shall remain in full force and effect until it naturally expires, for
no cause, on the first anniversary of the date of the FDA’s approval of the New Product (the “Term”).
Following the expiration of the Term, ArTara may continue to use the Chugai Service Deliverables for the purpose of developing
and commercializing the New Product or any improvement or invention for the New Product undertaken by ArTara for its own benefit;
provided, however, that after withdrawal of the New Product Marketing Authorization in all countries of the ArTara Territory,
ArTara shall not use or permit any Third Parties to use the Chugai Service Deliverables for any purpose.

 

    	 	11	 

     

    

 

8.2         Chugai’s Termination for Convenience.

 

(a)         Upon
expiration of the Chugai Service Period and during the Term, Chugai may, without any obligation to ArTara and without prejudice
to any other remedies available to it at law or in equity, terminate this Agreement, in whole or in part, without cause by providing
ninety (90) days prior written notice to ArTara of such termination.

 

(b)         Effect
of Termination for Convenience. Upon termination of this Agreement by Chugai without cause, ArTara may continue to use the
Chugai Service Deliverables for the purpose of developing and commercializing the New Product or any improvement or invention
for the New Product undertaken by ArTara for its own benefit; provided, however, that after withdrawal of the New Product Marketing
Authorization in all countries of the ArTara Territory, ArTara shall not use or permit any Third Parties to use the Chugai Service
Deliverables for any purpose.

 

8.3         Termination by ArTara for New Product Failure.

 

(a)         ArTara
may terminate this Agreement, in whole only, by providing ninety (90) days prior written notice to Chugai of such termination
upon:

 

(i)          ArTara’s decision to discontinue the New Product development; or

 

(ii)         ArTara’s
decision that the FDA’s requirements for the New Product are not likely to be met; or

 

(iii)        the
FDA identifying a safety issue regarding the New Product.

 

(b)         If
ArTara discontinues the New Product development but deems any New Product Improvements acquired from a Third Party or developed
by ArTara or its Affiliates (including the Inventions) may provide a better path forward, then the New Product shall be subject
to terms under Section 2.8 and shall not constitute a termination by ArTara made in accordance with Section 8.3(a).

 

(c)         Effect
of Termination for New Product Failure. Upon termination of this Agreement by ArTara in accordance with Section 8.3(a),
ArTara shall cease to use the Chugai Service Deliverables and return them to Chugai to the extent they still exist. Chugai will
maintain its rights to negotiate with ArTara for any improvements, inventions or know-how acquired from a Third Party or developed
by ArTara or its Affiliates (including the Inventions) during the Term as set forth in Section 2.8. If applicable, ArTara
shall provide reasonable support for Chugai to continue to conduct the Site Transfer; provided, however, that no further payments
under Section 4.1 shall be payable by ArTara following such termination.

 

    	 	12	 

     

    

 

8.4         Termination
for Material Breach, Insolvency or Change of Control.

 

(a)          Either
Party (the “Non-Defaulting Party”) may, without prejudice to any other remedies available to it at law or in
equity, terminate this Agreement, in whole or in part, in the event that the other Party (the “Defaulting Party”)
shall have materially breached or defaulted in the performance of any of its material obligations hereunder or in the event that
any warranty or representation made by the Defaulting Party shall have been untrue in any material respect, and such breach or
default shall have continued for thirty (30) days after written notice thereof was provided to the Defaulting Party by the Non-Defaulting
Party (or, if such default cannot be cured within such thirty (30) day period, if the Defaulting Party does not commence and diligently
continue good faith efforts to cure such default during such thirty (30) calendar day period and thereafter).

 

(b)         Either
Party may terminate this Agreement in its entirety immediately upon notice to the other Party if such other Party: (a) is dissolved
or liquidated or takes any corporate action for such purpose; (b) becomes insolvent or is generally unable to pay, or fails to
pay, its debts as they become due; (c) files or has filed against it a petition for voluntary or involuntary bankruptcy or otherwise
becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; (d)
makes or seeks to make a general assignment for the benefit of creditors; or (e) applies for or has a receiver, trustee, custodian,
or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its
property or business.

 

(c)         In
the event that a Change of Control occurs to ArTara during the Term, Chugai may terminate this Agreement upon ninety (90) days’
written notice to ArTara. Notwithstanding the foregoing, Chugai may not terminate this Agreement in the event ArTara provides
Chugai with a written pledge made by a new controlling party of ArTara or its assets as a result of the Change of Control in ArTara
in which such new party agrees to fulfill and undertake all obligations of ArTara is bound under this Agreement.

 

(d)         Effect of Termination for Material Breach, Insolvency or Change of Control.

 

(i)          Termination
by Chugai. Upon termination of this Agreement by Chugai for a material breach or default by ArTara in accordance with Section
8.4(a), insolvency, etc. of ArTara in accordance with Section 8.4(b) or Change of Control in accordance with Section
8.4(c), ArTara shall cease to use the Chugai Service Deliverables and return them to Chugai. Chugai will continue to
retain its rights to negotiate with ArTara for any improvements, inventions or know-how acquired from a Third Party or
developed by ArTara or its Affiliates (including the Inventions) during the Term as set forth in Section 2.8. If
applicable, ArTara shall provide reasonable support for Chugai to continue to conduct the Site Transfer; provided, however,
that no further payments under Section 4.1 shall be payable by ArTara following such termination.

 

    	 	13	 

     

    

 

(ii)         Termination
by ArTara. Upon termination by ArTara for a material breach or default by Chugai in accordance with Section 8.4(a)
or insolvency, etc. of Chugai in accordance with Section 8.4(b), ArTara may continue to use the Chugai Service Deliverables
for the purpose of developing and commercializing the New Product or any improvement or invention for the New Product undertaken
by ArTara for its own benefit; provided, however, that after withdrawal of the New Product Marketing Authorization in all countries
of the ArTara Territory, ArTara shall not use or permit any Third Parties to use the Chugai Service Deliverables for any purpose.

 

8.5         Effect
of Termination.

 

(a)         Upon
termination of this Agreement for whatever reason, except in the case of termination in accordance with Section 8.1 for expiration
of the Term, or termination by Chugai for convenience in accordance with Section 8.2, or termination by ArTara due to (x) a material
breach or default by Chugai in accordance with Section 8.4(a) or (y) insolvency, etc. of Chugai in accordance with Section
8.4(b), if ArTara or the CMO is expected to supply the Existing Product or the New Product to Chugai and if Chugai requests,
the Parties shall cooperate to prepare and timely agree upon the terms and conditions of the decommissioning of the manufacturing
operation at ArTara or the CMO, including the technical transfer in a timely fashion from ArTara or the CMO to Chugai or its designee.

 

(b)         Confidential
Information. Upon termination of this Agreement for whatever reason, each Party shall promptly return to the other Party,
or delete or destroy, all relevant records and materials in such Party’s possession or control containing Confidential Information
of the other Party; provided, however, that:

 

(i)          unless
otherwise provided elsewhere herein, ArTara shall not be required to return, delete or destroy the Chugai Service Deliverables;

 

(ii)         each
Party shall not be required to return, delete or destroy any Confidential Information of the other Party that the Party needs
to exercise rights or to perform obligations under this Agreement, any Product Supply Agreement or New Product Agreement then
in effect; and

 

(iii)        each
Party may keep one copy of such materials of the other Party for archival purposes only subject to continuing confidentiality
obligations in accordance with Section 5.

 

(c)         Ancillary
Agreements. Except in the case of termination by ArTara due to (x) a material breach or default by Chugai in accordance with
Section 8.4(a) or (y) insolvency, etc. of Chugai in accordance with Section 8.4(b), the then-effective Product Supply
Agreement or New Product Agreement shall survive the termination of this Agreement.

 

    	 	14	 

     

    

 

8.6         Survival.
Expiration or termination of this Agreement will not relieve the Parties of any obligations accruing before the effective date
of expiration or termination. The rights and obligations of the Parties set forth in Schedule 1 (Definitions) and Section
2.1(d) (Product Supply Agreement), Section 2.1(e) (Supply Price), Section 2.3 (CMO), Section 2.4
(Chugai’s Reserved Rights), Section 2.7(b) (New Product Agreement), Section 2.7(c) (Supply Price), Section
2.8 (Improvements), Section 2.9 (Pharmacovigilance for New Product.), Section 5 (Confidentiality; Publicity),
Section 6 (Representations and Warranties; Covenants), Section 7 (Indemnification), Section 8 (Effect of
Termination), Section 9 (Dispute Resolution), Section 11 (Assignment), and Section 12 (Miscellaneous), and
any right, obligation, or required performance of the Parties under this Agreement that, by its express terms or nature and context
is intended to survive expiration or termination of this Agreement, will survive any such expiration or termination.

 

9.           Dispute
Resolution.

 

9.1         Arbitration.

 

(a)         In
the event that a dispute between the Parties arises out of or relating to this Agreement, both Parties, upon written request of
either Party, shall first attempt to settle the same amicably through good faith discussions.

 

(b)         In
the event that such dispute cannot be resolved thereby, such dispute shall be settled by binding and final arbitration in Tokyo,
Japan, using the English language, and in accordance with the rules then in effect of the International Chamber of Commerce (“ICC”).

 

(c)         Arbitration
shall be conducted by three (3) arbitrators, with each Party to this Agreement selecting one (1) arbitrator and the two (2) selected
arbitrators then selecting a third (3rd) arbitrator. If the two (2) selected arbitrators fail to select a third (3rd)
arbitrator within [...***...] after the second (2nd) arbitrator was selected, either Party is entitled to
request the ICC to appoint the third (3rd) arbitrator in accordance with the rules then in effect of the ICC.

 

(d)         Each Party shall submit to any court of competent jurisdiction for purposes of the enforcement of any arbitration award,
order or judgment and hereby waives any rights to object to such enforcement. Any award, order or judgment pursuant to the arbitration
shall be final and binding on the Parties and may be entered and enforced in any court of competent jurisdiction.

 

9.2         Equitable
Remedies: Court Proceedings. Notwithstanding the foregoing or anything to the contrary in this Agreement, either Party may
initiate court proceedings in any court of competent jurisdiction for any claim for injunctive or other relief, including specific
performance, in the event of an actual or threatened breach by the other Party of any of its obligations under this Agreement,
notwithstanding any ongoing discussions between the Parties or any ongoing arbitration under Section 9.1, and the Parties
hereby agree that (a) any such actual or threatened breach would give rise to irreparable harm for which monetary damages would
not be an adequate remedy; and (b) a Party will be entitled to seek such injunctive or other relief, in addition to any and all
other rights and remedies that may be available to such Party at law or in equity or otherwise in respect of such breach, without
the posting of any bond or other security.

 

    	 	15	 

     

    

 

10.         Force
Majeure. Neither Party will be liable or responsible to the other Party, nor be deemed to have defaulted under or breached
this Agreement, for any failure or delay in fulfilling or performing any term of this Agreement (except for ArTara’s obligations
to make payments when due to Chugai hereunder), when and to the extent such failure or delay is caused by or results from events
beyond the affected Party’s reasonable control (each, a “Force Majeure Event”). The affected Party shall
use commercially reasonable efforts to end the failure or delay and ensure the effects of such Force Majeure Event are minimized.
The affected Party shall resume the performance of its obligations as soon as reasonably practicable after the removal of the
cause. If the affected Party’s failure or delay remains uncured for a period of sixty (60) days following notice given by
it under this Section 10, either Party may terminate this Agreement upon thirty (30) days’ notice to the other Party.
Unless either Party terminates this Agreement pursuant to the preceding sentence, all timelines in the then-current development
plan will automatically be extended for a period up to the duration of the Force Majeure Event.

 

11.         Assignment.
Except as otherwise expressly provided in this Agreement, neither Party may assign or otherwise transfer all or any of its rights,
or delegate or otherwise transfer all or any of its obligations, hereunder without the prior written consent of the other Party
(which consent may not be unreasonably withheld, conditioned, or delayed); provided, however, that either Party may make such
an assignment, delegation, or other transfer, in whole or in part, without the other Party’s consent to an Affiliate; provided
that the assigning Party shall remain liable and responsible for the performance of all obligations and compliance with all other
terms and conditions of this Agreement by such Affiliate.

 

12.         Miscellaneous.

 

12.1       Further
Assurances. Each Party shall, upon the reasonable request of the other Party, promptly execute such documents and perform
such acts as may be necessary to give full effect to the terms of this Agreement.

 

12.2       Relationship
of the Parties. The relationship between the Parties is that of independent contractors. Nothing contained in this Agreement
will be construed as creating any agency, partnership, joint venture, or other form of joint enterprise, employment, or fiduciary
relationship between the Parties, and neither Party will have authority to contract for or bind the other Party in any manner
whatsoever.

 

12.3       Notices.
Each Party shall deliver all notices, requests, consents, claims, demands, waivers, and other communications under this
Agreement (each, a “Notice”) in writing and addressed to the other Party at its address set out below (or
to any other address the receiving Party may designate from time to time in accordance with this Section). Each Party shall
deliver all Notices by personal delivery, internationally recognized overnight courier (with all fees prepaid), facsimile
(with confirmation of transmission), or registered mail (in each case, return receipt requested, postage prepaid). Except as
otherwise provided in this Agreement, a Notice is effective only (a) upon receipt by the receiving Party; and (b) if the
Party giving the Notice has complied with the requirements of this Section.

 

    	 	16	 

     

    

 

	If to Chugai:	1-1 Nihonbashi-Muromachi 2-chome, Chuo-ku,
	 	Tokyo 103-8324, Japan
	 	Facsimile: [...***...]
	 	Attention: General Manager, Corporate Planning Department
	 	 
	 	With a copy to :
	 	1-1 Nihonbashi-Muromachi 2-chome, Chuo-ku,
	 	Tokyo 103-8324, Japan
	 	Facsimile: [...***...]
	 	Attention: General Manager, Legal Department
	 	 
	If to ArTara:	1 Little West 12th Street
	 	Facsimile:N/A
	 	Attention: CEO

 

12.4       Interpretation.
For purposes of this Agreement, (a) the words “include,” “includes,” and “including” will
be deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive; and (c)
the words “herein,” “hereof,” “hereby,” “hereto,” and “hereunder”
refer to this Agreement as a whole.

 

12.5       Headings. The headings in this Agreement are for reference only and do not affect the interpretation of this Agreement.

 

12.6       Entire Agreement. This Agreement and all related Schedules, constitutes the sole and entire agreement of the Parties
with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations,
and warranties, both written and oral, with respect to such subject matter.

 

12.7       Expenses. Except as otherwise expressly provided herein or in any development plan, each Party is responsible for
all of its own costs and expenses in performing its obligations under this Agreement and neither Party is obligated to reimburse
the other Party for any costs or expenses a Party incurs in performing such obligations.

 

12.8       No Third-Party Beneficiaries. Except for any indemnified Party under Section 7, this Agreement is for the sole benefit
of the Parties and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or
will confer upon any other person or entity any legal or other right, benefit, or remedy of any nature whatsoever, under or because
of this Agreement.

 

12.9       Amendment;
Modification; Waiver. This Agreement may only be amended, modified, or supplemented by an agreement in writing signed by each
of the Parties. No waiver by any Party of any of the provisions hereof will be effective unless expressly set forth in writing
and signed by the waiving Party. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising,
any rights, remedy, power, or privilege arising from this Agreement will operate or be construed as a waiver thereof; nor will
any single or partial exercise of any right, remedy, power, or privilege hereunder preclude any other or further exercise thereof
or the exercise of any other right, remedy, power, or privilege.

 

    	 	17	 

     

    

 

12.10     Cumulative
Remedies. All rights and remedies provided in this Agreement are cumulative and not exclusive and are in addition to and not
in substitution for any other rights or remedies that may now or subsequently be available at law or in equity or otherwise.

 

12.11     Severability.
If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality,
or unenforceability will not affect any other term or provision of this Agreement or invalidate or render unenforceable such term
or provision in any other jurisdiction. Upon a determination that any term or other provision is invalid, illegal, or unenforceable,
the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely
as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated
to the greatest extent possible.

 

12.12     Governing Law. This Agreement and all related documents, and all matters arising out of or relating to this Agreement,
are governed by, and construed in accordance with, the laws of Japan, without regard to the conflict of laws provisions thereof
to the extent such principles or rules would require or permit the application of the laws of any jurisdiction other than those
of Japan.

 

12.13     Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but all of
which together will be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email,
or other means of electronic transmission (to which a PDF copy is attached) will be deemed to have the same legal effect as delivery
of an original signed copy of this Agreement.

 

IN WITNESS WHEREOF, the Parties have executed
this Agreement effective as of the Effective Date.

 

	 	Chugai Pharmaceutical Co., Ltd.
	 	 
	 	 
	 	By	/s/ Tatsuro Kosaka
	 	Name:	Tatsuro Kosaka
	 	Title:	President and CEO
	 	 	 
	 	ArTara Therapeutics Inc.
	 	 
	 	 
	 	By	/s/ Jesse Shefferman
	 	Name:	Jesse Shefferman
	 	Title:	CEO

 

    	 	18	 

     

    

 

SCHEDULE 1

 

DEFINITIONS

 

For purposes of this Agreement, the following
terms have the following meanings:

 

“Affiliates” means,
with respect to a Party, any corporation or other legal entity Controlled by, Controlling, or under common Control with such Party.
For the purpose of this definition, the term “Control” means owning, directly or indirectly, more than fifty
percent (50%) of the issued voting stock of a corporation or other legal entity, or having otherwise the power to govern the management
thereof.

 

“Agreement” has the
meaning set forth in the preamble.

 

“ArTara” has the meaning
set forth in the preamble.

 

“ArTara Territory” means
any country, other than the Chugai Territory.

 

“Change of Control”
means, with respect to any Party, (a) the sale of all or substantially all of the assets of such Party, (b) the merger or consolidation
of such Party with or into any other person where the shareholders of such Party fail to own more than fifty percent (50%) of the
voting power of the surviving entity, (c) an entity other than an affiliate of a Party during any period of time after the date
hereof acquires more than fifty percent (50%) of the capital stock (by voting power) of such Party, or (d) any other transaction
which results in a Party becoming an entity controlled by, or under common control with, a third party. In each case in this definition
where there is a reference to a Party, such reference shall also include a controlling Affiliate of such Party.

 

“Chugai” has the meaning
set forth in the preamble.

 

“Chugai Materials” means
the master cell bank of the Existing Product (“MCB”), [...***...]. A detailed list of the Chugai Materials
is set forth in Schedule 2 attached hereto.

 

“Chugai Service Deliverables”
means the [...***...].

 

“Chugai Service Period”
means the period of time from the Effective Date until June 30, 2020, or any other date to be agreed by the Parties as the period
during which Chugai shall provide ArTara with the Chugai Materials and technical support.

 

“Chugai Territory” means
Japan and Taiwan.

 

“Claims” has the meaning
set forth in Section 7.2.

 

    	 	19	 

     

    

 

“CMO” means any contract
manufacturing organization subcontracted by ArTara to develop or manufacture the New Product at its manufacturing facility or
plant. As an example, as of the Effective Date, ArTara expects to subcontract the development or manufacture of the New Product
to Novex Innovations LLC at its plant at Winston-Salem, North Carolina, U.S.A. Novex Innovations is not a party to this agreement.

 

“Confidential Information”
means all non-public, confidential, or proprietary information and materials of a Party (including its Affiliates in this definition,
if the Party is Chugai), whether in oral, written, electronic, or other form or media, whether or not such information and materials
are marked, designated, or otherwise identified as “confidential” and includes any information and materials that,
due to the nature of the subject matter or circumstances surrounding the disclosure thereof, would reasonably be understood to
be confidential or proprietary. Without limiting the foregoing, Confidential Information includes: (a) the terms and existence
of this Agreement, including correspondence, communications, and notices provided hereunder; and (b) with respect to Chugai, the
Chugai Service Deliverables.

 

Confidential Information does not include
information or materials that the receiving Party can demonstrate by documentation: (w) was already known to the receiving Party
without restriction on use or disclosure prior to the disclosure of such information directly or indirectly by or on behalf of
the disclosing Party; (x) was or is independently developed by the receiving Party without reference to or use of any Confidential
Information of the disclosing Party; (y) was or becomes generally known by the public other than by breach of this Agreement by,
or other wrongful act of, the receiving Party; or (z) was disclosed to the receiving Party by a Third Party who was not, at the
time of disclosure, under any obligation to the disclosing Party or any other person or entity to maintain the confidentiality
of such information.

 

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

 

“Effective Date” has
the meaning set forth in the preamble.

 

“Existing Product” has
the meaning set forth in the recitals.

 

“FDA” means the United
States Food and Drug Administration, which is a federal agency of the Department of Health and Human Services of the United States.

 

“Field” means the use
of attenuated bacteria as the main mechanism of action of a therapeutic agent in humans.

 

“Force Majeure Event”
has the meaning set forth in Section 10.

 

“ICC” has the meaning
set forth in Section 9.1(b).

 

“Inventions” has the
meaning set forth in Section 2.8(a).

 

“JSC” has the meaning
set forth in Section 3.1(a).

 

    	 	20	 

     

    

 

“Marketing Authorization”
means any authorization, approval, licensees or registrations by a Regulatory Authority that are necessary for the manufacture
and sale of a Product in the Field in a relevant jurisdiction and the “Regulatory Authority” means any national,
supranational, regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity
with responsibility for granting authorizations, approvals, licenses or registrations necessary for the manufacturing and sale
of pharmaceutical products in a territory, including FDA and PMDA.

 

“New Product” means
a therapeutic product comparable to the Existing Product resulting from pre-clinical, clinical, manufacturing and regulatory activities
undertaken by ArTara, using the Chugai Materials to be provided by Chugai to ArTara, which is currently referred to by ArTara as
 “Tara002”.

 

“New Product Agreement”
has the meaning set forth in Section 2.7(b)(ii).

 

“Non-Defaulting Party”
has the meaning set forth in Section 8.4(a).

 

“Opt-In Option” has
the meaning set forth in Section 2.7(a).

 

“Opt-Out Option” has
the meaning set forth in Section 2.6(a).

 

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

 

“PMDA” means the Pharmaceuticals
and Medical Devices Agency of Japan, which works together with the Ministry of Health, Labor and Welfare of Japan.

 

“Product” means either
or both of the Existing Product and the New Product.

 

“Product Supply Agreement”
has the meaning set forth in Section 2.1(d).

 

“Site Transfer” means
the contemplated transfer of the site of the manufacture of the Existing Product from Chugai’s [...***...] to ArTara’s
or its CMO’s plant [...***...] that may be made by partial change application keeping the existing Manufacturing
Authorization for the Existing Product.

 

“Taiwan” means the Republic
of China.

 

“Term” has the meaning
set forth in Section 8.1.

 

“Third Party” means
a person or entity other than a Party or a Party’s Affiliate.

 

“Transaction” means
the provision of materials and documents by Chugai to ArTara and the development and commercialization of the New Product by ArTara
pursuant to this Agreement and the other transactions contemplated hereunder.

 

“United States” means
the United States of America.

 

    	 	21	 

     

    

 

SCHEDULE 2

 

CHUGAI MATERIALS

 

	
        n 
        [...***...]

         

        n 
        [...***...]

         

	n  [...***...]

 

    	 	22	 

     

    

 

SCHEDULE 3

 

DEVELOPMENT PLAN

 

 [...***...]

 

    	 	23	 

     

    

 

SCHEDULE 4

 

CMO STANDARDS

 

[...***...]

 

    	 	24Exhibit 10.8

 

INDEMNITY AGREEMENT

 

This
Indemnity Agreement (this “Agreement”) dated as of ___________ _____, 20__, is made by and
between ArTara Therapeutics, Inc., a Delaware corporation (the “Company”),
and _________________ (“Indemnitee”).

 

Recitals

 

A.           The
Company desires to attract and retain the services of highly qualified individuals as directors, officers, employees and agents.

 

B.           The
Company’s Amended and Restated Bylaws (the “Bylaws”) require that the Company indemnify its directors
and officers, and empowers the Company to indemnify its employees and other agents, as authorized by the Delaware General Corporation
Law, as amended (the “Code”), under which the Company is organized and such Bylaws expressly provide
that the indemnification provided therein is not exclusive and contemplates that the Company may enter into separate agreements
with its directors, officers and other persons to set forth specific indemnification provisions.

 

C.            Indemnitee
does not regard the protection currently provided by applicable law, the Bylaws, the Company’s other governing documents,
and available insurance as adequate under the present circumstances, and the Company has determined that Indemnitee and other directors,
officers, employees and agents of the Company may not be willing to serve or continue to serve in such capacities without additional
protection.

 

D.           The
Company desires and has requested Indemnitee to serve or continue to serve as a director, officer, employee or agent of the Company,
as the case may be, and has proffered this Agreement to Indemnitee as an additional inducement to serve in such capacity.

 

E.            Indemnitee
is willing to serve, or to continue to serve, as a director, officer, employee or agent of the Company, as the case may be, if
Indemnitee is furnished the indemnity provided for herein by the Company.

 

Agreement

 

Now
Therefore, in consideration of the mutual covenants and agreements set forth herein, the parties hereto, intending to
be legally bound, hereby agree as follows:

 

1.            Definitions.

 

(a)              Agent.
For purposes of this Agreement, the term “Agent” of the Company means any person who: (i) is or
was a director, officer, employee, agent, or other fiduciary of the Company or a subsidiary of the Company; or (ii) is
or was serving at the request or for the convenience of, or representing the interests of, the Company or a subsidiary of the
Company, as a director, officer, employee, agent, or other fiduciary of a foreign or domestic corporation, partnership, joint
venture, trust or other enterprise.

 

    	 	 1	 

     

    

 

(b)              Change
in Control. For purposes of this Agreement, a “Change in Control” shall be deemed to have occurred
if (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), other than a trustee or other fiduciary holding securities under an employee benefit
plan of the Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same
proportions as their ownership of stock of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3
under the Exchange Act), directly or indirectly, of securities of the Company representing 20% or more of the total voting power
represented by the Company’s then outstanding Voting Securities, (ii) individuals who on the date of this Agreement are
members of the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority
of the members of the Board (provided, however, that if the appointment or election (or nomination for election) of any
new Board member was approved or recommended by a majority vote of the members of the Incumbent Board then still in office, such
new member shall be considered as a member of the Incumbent Board), or (iii) the stockholders of the Company approve a merger
or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the Voting
Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by
being converted into Voting Securities of the surviving entity) at least 80% of the total voting power represented by the Voting
Securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders
of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company
of (in one transaction or a series of transactions) all or substantially all of the Company’s assets.

 

(c)              Expenses.
For purposes of this Agreement, the term “Expenses” shall be broadly construed and shall include, without
limitation, all direct and indirect costs of any type or nature whatsoever, including, without limitation, all attorneys’,
witness, or other professional fees and related disbursements, and other out-of-pocket costs of whatever nature, actually and
reasonably incurred by Indemnitee in connection with the investigation, defense or appeal of a proceeding or establishing or enforcing
a right to indemnification under this Agreement, the Code or otherwise. The term “Expenses” shall also
include reasonable compensation for time spent by Indemnitee for which he or she is not compensated by the Company or any subsidiary
or third party: (i) for any period during which Indemnitee is not an Agent, in the employment of, or providing services for compensation
to, the Company or any subsidiary; and (ii) if the rate of compensation and estimated time involved is approved by the directors
of the Company who are not parties to any action with respect to which Expenses are incurred, for Indemnitee while an Agent of,
employed by, or providing services for compensation to, the Company or any subsidiary.

 

(d)              Independent
Counsel. For purposes of this Agreement, the term “Independent Counsel” means a law firm, or a partner
(or, if applicable, member) of such a law firm, that is experienced in matters of corporation law and neither presently is, nor
in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such
party, or (ii) any other party to the proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term “Independent Counsel” shall not include any person who, under the applicable standards of professional
conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. The Company will pay the reasonable fees and expenses of the Independent Counsel
referred to above and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out
of or relating to this Agreement or its engagement pursuant hereto.

    	 	 2	 

     

    

 

(e)              Liabilities. For purposes of this Agreement, the term “Liabilities” shall be broadly construed
and shall include, without limitation, judgments, damages, deficiencies, liabilities, losses, penalties, excise taxes, fines, assessments
and amounts paid in settlement, including any interest and any federal, state, local or foreign taxes imposed as a result of the
actual or deemed receipt of any payment under this Agreement.

 

(f)               Proceedings.
For purposes of this Agreement, the term “proceeding” shall be broadly construed and shall include,
without limitation, any threatened, pending, or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing, or any other actual, threatened or completed
proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative
nature, and whether formal or informal in any case, in which Indemnitee was, is or will be involved as a party, potential party,
non-party witness, or otherwise by reason of: (i) the fact that Indemnitee is or was a director or officer of the Company; (ii)
the fact that any action taken by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act)
on Indemnitee’s part while acting as an Agent; or (iii) the fact that Indemnitee is or was serving at the request of the
Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit
plan, or other enterprise, and in any such case described above, whether or not serving in any such capacity at the time any liability
or Expense is incurred for which indemnification, reimbursement, or advancement of Expenses may be provided under this Agreement.
If the Indemnitee believes in good faith that a given situation may lead to or culminate in the institution of a proceeding, this
shall be considered a proceeding under this paragraph.

 

(g)              Subsidiary.
For purposes of this Agreement, the term “subsidiary” means any corporation, limited liability company,
or other entity, of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly,
by the Company and one or more of its subsidiaries, and any other corporation, limited liability company, partnership, joint venture,
trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as an Agent.

 

(h)              Voting
Securities. For purposes of this Agreement, “Voting Securities” shall mean any securities of the
Company that vote generally in the election of directors.

 

2.            Agreement
to Serve. Indemnitee will serve, or continue to serve, as the case may be, as an Agent, faithfully and to the best of his
or her ability, at the will of such entity designated by the Company and at the request of the Company (or under separate agreement,
if such agreement exists), in the capacity Indemnitee currently serves such entity, so long as Indemnitee is duly appointed or
elected and qualified in accordance with the applicable provisions of the governance documents of such entity, or until such time
as Indemnitee tenders his or her resignation in writing; provided, however, that nothing contained in this Agreement is intended
as an employment agreement between Indemnitee and the Company or any of its subsidiaries or to create any right to continued employment
of Indemnitee with the Company or any of its subsidiaries in any capacity.

 

    	 	 3	 

     

    

 

The Company acknowledges
that it has entered into this Agreement and assumes the obligations imposed on it hereby, in addition to and separate from its
obligations to Indemnitee under the Bylaws, to induce Indemnitee to serve, or continue to serve, as an Agent, and the Company acknowledges
that Indemnitee is relying upon this Agreement in serving as an Agent.

 

3.            Indemnification.

 

(a)               Indemnification
in Third Party Proceedings. Subject to Section 10 below, the Company shall indemnify Indemnitee to the fullest extent
permitted by the Code, as the same may be amended from time to time (but, to the fullest extent of the law, only to the extent
that such amendment permits Indemnitee to broader indemnification rights than the Code permitted prior to adoption of such amendment),
if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any proceeding, other than a proceeding
by or in the right of the Company to procure a judgment in its favor, for any and all Expenses and Liabilities (including all
interest, assessments and other charges paid or payable in connection with or in respect of such Expenses and Liabilities) incurred
by Indemnitee in connection with the investigation, defense, settlement or appeal of such proceeding, if Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the
case of a criminal proceeding had no reasonable cause to believe that Indemnitee's conduct was unlawful. The parties hereto intend
that this Agreement shall provide to the fullest extent permitted by law for indemnification in excess of that expressly permitted
by statute, including, without limitation, any indemnification provided by the Certificate of Incorporation of the Company, the
Bylaws, vote of its stockholders or disinterested directors, or applicable law.

 

(b)              Indemnification
in Derivative Actions and Direct Actions by the Company. Subject to Section 10 below, the Company shall indemnify Indemnitee
to the fullest extent permitted by the Code, as the same may be amended from time to time (but, fullest extent permitted by applicable
law, only to the extent that such amendment permits Indemnitee to broader indemnification rights than the Code permitted prior
to adoption of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any proceeding
by or in the right of the Company to procure a judgment in its favor, against any and all Expenses actually and reasonably incurred
by Indemnitee in connection with the investigation, defense, settlement, or appeal of such proceedings, if Indemnitee acted in
good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. No indemnification
for Expenses shall be made under this Section 3(b) in respect of any claim, issue or matter as to which Indemnitee shall have
been finally adjudged by a court competent jurisdiction to be liable to the Company, unless and only to the extent that the Chancery
Court of the State of Delaware or any court in which the proceeding was brought shall determine upon application that, despite
the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to
indemnification.

 

4.            Indemnification
of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, in circumstances where indemnification
is not available under Section 3(a) or 3(b), as the case may be, to the fullest extent permitted by law and to the extent that
Indemnitee is a party to (or a participant in) any proceeding and has been successful on the merits or otherwise in defense of
any proceeding or in defense of any claim, issue or matter therein, in whole or part, including the dismissal of any action without
prejudice, the Company shall indemnify Indemnitee against all Expenses and Liabilities in connection with the investigation, defense
or appeal of such proceeding. If Indemnitee is not wholly successful in such proceeding but is successful, on the merits or otherwise,
as to one or more but less than all claims, issues or matters in such proceeding, the Company shall indemnify Indemnitee against
all Expenses and Liabilities incurred by Indemnitee or on Indemnitee’s behalf in connection with or related to each successfully
resolved claim, issue or matter to the fullest extent permitted by law.

 

    	 	 4	 

     

    

 

5.            Partial
Indemnification; Witness Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for some or a portion of any Expenses and Liabilities incurred by Indemnitee in the investigation, defense, settlement
or appeal of a proceeding, but is precluded by applicable law or the specific terms of this Agreement to indemnification for the
total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.
Notwithstanding any other provision of this Agreement, to the fullest extent permitted by applicable law and to the extent that
Indemnitee is, by reason of Indemnitee’s acting as an Agent, a witness or otherwise asked to participate in any proceeding
to which Indemnitee is not a party, Indemnitee shall be indemnified against all Expenses incurred by Indemnitee or on Indemnitee’s
behalf in connection therewith.

 

6.            Advancement
of Expenses. To the extent not prohibited by law, the Company shall advance the Expenses incurred by Indemnitee in connection
with any proceeding, and such advancement shall be made within twenty (20) days after the receipt by the Company of a statement
or statements requesting such advances (which shall include invoices received by Indemnitee in connection with such Expenses but,
in the case of invoices in connection with legal services, any references to legal work performed or to expenditures made that
would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice) and upon request
of the Company, an undertaking to repay the advancement of Expenses if and to the extent that it is ultimately determined by a
court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified
by the Company. Advances shall be unsecured, interest free and without regard to Indemnitee’s ability to repay the Expenses.
Advances shall include any and all Expenses incurred by Indemnitee pursuing an action to enforce Indemnitee’s right to indemnification
under this Agreement or otherwise and this right of advancement, including expenses incurred preparing and forwarding statements
to the Company to support the advances claimed. Indemnitee acknowledges that the execution and delivery of this Agreement shall
constitute an undertaking providing that Indemnitee shall, to the fullest extent required by law, repay the advance (without interest)
if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to
appeal, that Indemnitee is not entitled to be indemnified by the Company. The right to advances under this Section shall continue
until final disposition of any proceeding, including any appeal therein. This Section 6 shall not apply to any claim made by Indemnitee
for which indemnity is excluded pursuant to Section 10(b).

 

7.            Notice
and Other Indemnification Procedures.

 

(a)              Notification
of Proceeding. Indemnitee will notify the Company in writing promptly upon being served with any summons, citation, subpoena,
complaint, indictment, information or other document relating to any proceeding or matter which may be subject to indemnification
or advancement of Expenses covered hereunder. The written notification to the Company shall include a description of the nature
of the proceeding and the facts underlying the proceeding. The failure of Indemnitee to so notify the Company shall not relieve
the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise and any delay in so notifying
the Company shall not constitute a waiver by Indemnitee of any rights under this Agreement.

 

    	 	 5	 

     

    

 

(b)              Request
for Indemnification Payments. To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written
request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably
necessary to determine whether and to what extent Indemnitee is entitled to indemnification under the terms of this Agreement,
and shall request payment thereof by the Company.

 

(c)              Determination
of Right to Indemnification Payments. Upon written request by Indemnitee for indemnification pursuant to the Section 7(b)
hereof, a determination with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the
following four methods, which shall be at the election of the Board of Directors: (1) by a majority vote of the disinterested
directors, even though less than a quorum, (2) by a committee of disinterested directors designated by a majority vote of the
disinterested directors, even though less than a quorum, (3) if there are no disinterested directors or if the disinterested directors
so direct, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee,
or (4) if so directed by the Board of Directors, by the stockholders of the Company; provided, however, that if there has
been a Change in Control, then such determination shall be made by Independent Counsel selected by Indemnitee and approved by
the Company (which approval shall not be unreasonably withheld). For purposes hereof, disinterested directors are those members
of the board of directors of the Company who are not parties to the action, suit or proceeding in respect of which indemnification
is sought by Indemnitee. Indemnification payments requested by Indemnitee under Section 3 hereof shall be made by the Company
no later than sixty (60) days after receipt of the written request of Indemnitee. Claims for advancement of Expenses shall be
made under the provisions of Section 6 herein.

 

(d)              Application
for Enforcement. In the event the Company fails to make timely payments as set forth in Sections 6 or 7(b) above, Indemnitee
shall have the right to apply to any court of competent jurisdiction for the purpose of enforcing Indemnitee’s right to
indemnification or advancement of Expenses pursuant to this Agreement. In such an enforcement hearing or proceeding, the burden
of proof shall be on the Company to prove that indemnification or advancement of Expenses to Indemnitee is not required under
this Agreement or permitted by applicable law. Any determination by the Company (including its Board of Directors, a committee
thereof, Independent Counsel) or stockholders of the Company, that Indemnitee is not entitled to indemnification hereunder, shall
not be a defense by the Company to the action nor create any presumption that Indemnitee is not entitled to indemnification or
advancement of Expenses hereunder.

 

(e)              Indemnification
of Certain Expenses. The Company shall indemnify Indemnitee against all Expenses incurred in connection with any hearing or
proceeding under this Section 7 unless the Company prevails in such hearing or proceeding on the merits in all material respects.

 

    	 	 6	 

     

    

 

8.            Assumption
of Defense. In the event the Company shall be requested by Indemnitee to pay the Expenses of any proceeding, the Company,
if appropriate, shall be entitled to assume the defense of such proceeding, or to participate to the extent permissible in such
proceeding, with counsel reasonably acceptable to Indemnitee. Upon assumption of the defense by the Company and the retention
of such counsel by the Company, the Company shall not be liable to Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same proceeding, provided that Indemnitee shall have the right to employ separate counsel
in such proceeding at Indemnitee’s sole cost and expense. Notwithstanding the foregoing, if Indemnitee’s counsel delivers
a written notice to the Company stating that such counsel has reasonably concluded that there may be a conflict of interest between
the Company and Indemnitee in the conduct of any such defense or the Company shall not, in fact, have employed counsel or otherwise
actively pursued the defense of such proceeding within a reasonable time, then in any such event the fees and Expenses of Indemnitee’s
counsel to defend such proceeding shall be subject to the indemnification and advancement of Expenses provisions of this Agreement.

 

9.            Insurance.
To the extent that the Company maintains an insurance policy or policies providing liability insurance for Agents (“D&O
Insurance”), Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the
maximum extent of the coverage available for any such Agent under such policy or policies. If, at the time of the receipt of a
notice of a claim pursuant to the terms hereof, the Company has D&O Insurance in effect or otherwise potentially available,
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 Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies.

 

10.          Exceptions.

 

(a)              Certain
Matters. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of
this Agreement to indemnify Indemnitee on account of any proceeding with respect to: (i) remuneration paid to Indemnitee
if it is determined by final judgment or other final adjudication that such remuneration was in violation of law (and, in this
respect, both the Company and Indemnitee have been advised that the Securities and Exchange Commission believes 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, as indicated in Section 10(d) below); (ii) a
final judgment rendered against Indemnitee for an accounting, disgorgement or repayment of profits made from the purchase or sale
by Indemnitee of securities of the Company against Indemnitee or in connection with a settlement by or on behalf of Indemnitee
to the extent it is acknowledged by Indemnitee and the Company that such amount paid in settlement resulted from Indemnitee's
conduct from which Indemnitee received monetary personal profit, pursuant to the provisions of Section 16(b) of the Exchange
Act or other provisions of any federal, state or local statute or rules and regulations thereunder; (iii) a final judgment
or other final adjudication that Indemnitee’s conduct was in bad faith, knowingly fraudulent or deliberately dishonest or
constituted willful misconduct (but only to the extent of such specific determination); or (iv) on account of conduct that is
established by a final judgment as constituting a breach of Indemnitee’s duty of loyalty to the Company or resulting in
any personal profit or advantage to which Indemnitee is not legally entitled. For purposes of the foregoing sentence, a final
judgment or other adjudication may be reached in either the underlying proceeding or action in connection with which indemnification
is sought or a separate proceeding or action to establish rights and liabilities under this Agreement.

 

    	 	 7	 

     

    

 

(b)              Claims
Initiated by Indemnitee. Any provision herein to the contrary notwithstanding, the Company shall not be obligated to indemnify
or advance Expenses to Indemnitee with respect to proceedings or claims initiated or brought by Indemnitee against the Company
or its Agents and not by way of defense, except (i) with respect to proceedings brought to establish or enforce a right to indemnification
or advancement under this Agreement or under any other agreement, provision in the Bylaws or the Certificate of Incorporation
or applicable law, or (ii) with respect to any other proceeding initiated by Indemnitee that is either approved by the Board of
Directors or Indemnitee’s participation is required by applicable law. However, indemnification or advancement of Expenses
may be provided by the Company in specific cases if the Board of Directors determines it to be appropriate.

 

(c)               Unauthorized
Settlements. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms
of this Agreement to indemnify Indemnitee under this Agreement for any amounts paid in settlement of a proceeding effected without
the Company’s written consent. Neither the Company nor Indemnitee shall unreasonably withhold consent to any proposed settlement;
provided, however, that the Company may in any event decline to consent to (or to otherwise admit or agree to any liability for
indemnification hereunder in respect of) any proposed settlement if the Company is also a party in such proceeding and determines
in good faith that such settlement is not in the best interests of the Company and its stockholders.

 

(d)              Securities
Act Liabilities. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the
terms of this Agreement to indemnify Indemnitee or otherwise act in violation of any undertaking appearing in and required by
the rules and regulations promulgated under the Securities Act of 1933, as amended (the “Securities Act”),
or in any registration statement filed with the SEC under the Securities Act. Indemnitee acknowledges that paragraph (h) of
Item 512 of Regulation S-K currently generally requires the Company to undertake in connection with any registration statement
filed under the Securities Act to submit the issue of the enforceability of Indemnitee’s rights under this Agreement in
connection with any liability under the Securities Act on public policy grounds to a court of appropriate jurisdiction and to
be governed by any final adjudication of such issue. Indemnitee specifically agrees that any such undertaking shall supersede
the provisions of this Agreement and to be bound by any such undertaking.

 

(e)              Prior
Payments Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of
this Agreement to indemnify or advance Expenses to Indemnitee under this Agreement for which payment has actually been made to
or on behalf of Indemnitee under any insurance policy or other indemnity provision, expect with respect to any excess beyond the
amount paid under any insurance policy or indemnity policy.

 

    	 	 8	 

     

    

 

11.          Nonexclusivity
and Survival of Rights. The provisions for indemnification and advancement of Expenses set forth in this Agreement shall not
be deemed exclusive of any other rights which Indemnitee may at any time be entitled under any provision of applicable law, the
Company’s Certificate of Incorporation, the Bylaws or other agreements, both as to action in Indemnitee’s official
capacity and Indemnitee’s action as an Agent, in any court in which a proceeding is brought, and Indemnitee’s rights
hereunder shall continue after Indemnitee has ceased acting as an Agent and shall inure to the benefit of the heirs, executors,
administrators and assigns of Indemnitee. The obligations and duties of the Company to Indemnitee under this Agreement shall be
binding on the Company and its successors and assigns until terminated in accordance with its terms. The Company shall require
any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the
business or assets of the Company, expressly to assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform if no such succession had taken place.

 

No amendment, alteration
or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in
respect of any action taken or omitted by such Indemnitee in his or her corporate status prior to such amendment, alteration or
repeal. To the extent that a change in the Code, whether by statute or judicial decision, permits greater indemnification or advancement
of Expenses than would be afforded currently under the Company’s Certificate of Incorporation, the Bylaws and this Agreement,
it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change.
No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy
shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity
or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, by Indemnitee shall not prevent the concurrent
assertion or employment of any other right or remedy by Indemnitee.

 

12.          Term.
This Agreement shall continue until and terminate upon the later of: (a) five (5) years after the date that Indemnitee shall have
ceased to serve as an Agent; or (b) one (1) year after the final termination of any proceeding, including any appeal then pending,
in respect to which Indemnitee was granted rights of indemnification or advancement of Expenses hereunder.

 

No legal action shall
be brought and no cause of action shall be asserted by or in the right of the Company against an Indemnitee or an Indemnitee's
estate, spouse, heirs, executors or personal or legal representatives after the expiration of five (5) years from the date of accrual
of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted
by the timely filing of a legal action within such five-year period; provided, however, that if any shorter period of limitations
is otherwise applicable to such cause of action, such shorter period shall govern.

 

13.          Subrogation.
In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who, at the request and expense of the Company, shall execute all papers required and shall do everything
that may be reasonably necessary to secure such rights, including the execution of such documents necessary to enable the Company
effectively to bring suit to enforce such rights.

 

    	 	 9	 

     

    

 

14.          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 Indemnitee to the fullest extent now or hereafter permitted by
law.

 

15.          Severability.
If any provision of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, (a) the
validity, legality and enforceability of the remaining provisions of the 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 paragraph 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 14 hereof.

 

16.          Amendment
and Waiver. No supplement, modification, amendment, or cancellation 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.

 

17.          Notice.
Except as otherwise provided herein, any notice or demand which, by the provisions hereof, is required or which may be given to
or served upon the parties hereto shall be in writing and, if by electronic transmission, shall be deemed to have been validly
served, given or delivered when sent, if by overnight delivery, courier or personal delivery, shall be deemed to have been validly
served, given or delivered upon actual delivery and, if mailed, shall be deemed to have been validly served, given or delivered
three (3) business days after deposit in the United States mail, as registered or certified mail, with proper postage prepaid
and addressed to the party or parties to be notified at the addresses set forth on the signature page of this Agreement (or such
other address(es) as a party may designate for itself by like notice). If to the Company, notices and demands shall be delivered
to the attention of the Secretary of the Company.

 

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

 

19.          Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but
all of which together shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence
the existence of this Agreement.

 

20.          Headings. The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to
constitute part of this Agreement or to affect the construction hereof.

 

    	 	 10	 

     

    

 

21.          Entire
Agreement. Subject to Section 11 hereof, this Agreement constitutes the entire agreement between the parties with respect
to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, written and oral, between the
parties with respect to the subject matter of this Agreement; provided, however, that this Agreement is a supplement to and in
furtherance of the Company’s Certificate of Incorporation, the Bylaws, the Code and any other applicable law, and shall
not be deemed a substitute therefor, and does not diminish or abrogate any rights of Indemnitee thereunder.

 

22.          Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to
Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred
by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses,
in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and
reasonable in light of all of the circumstances of such proceeding in order to reflect (i) the relative benefits received by the
Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such proceeding; and/or (ii) the relative
fault of the Company and Indemnitee in connection with such event(s) and/or transaction(s).

 

23.          Consent
to Jurisdiction. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding
arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware (the
 “Delaware Court”), and not in any other state or federal court in the United States of America or any
court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action
or proceeding arising out of or in connection with this Agreement, (iii) agree to appoint, to the extent such party is not otherwise
subject to service of process in the State of Delaware, an agent in the State of Delaware as such party's agent for acceptance
of legal process in connection with any such action or proceeding against such party with the same legal force and validity as
if served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such
action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or
proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

 

    	 	 11	 

     

    

 

In
Witness Whereof, the parties hereto have entered into this Agreement effective as of the date first above written.

 

	 	ARTARA THERAPEUTICS, INC.

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	 	INDEMNITEE  
	 	 
	 	 
	 	Signature of Indemnitee
	 	 
	 	 
	 	Print or Type Name of Indemnitee

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}]]