Document:

Exhibit
10.1

 

Certain
Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

TECHNOLOGY
CO-DEVELOPMENT AGREEMENT

 

This
TECHNOLOGY CO-DEVELOPMENT AGREEMENT (the “Agreement”) is made effective as of the date of last signature (the “Effective
Date”) by and between Microbot Medical, Inc., a Delaware corporation with a place of business located at 25 Recreation
Park Drive, Suite 108, Hingham, MA 02043, on behalf of itself and its Affiliates (“Microbot”), and Stryker Corporation,
acting through its Neurovascular Division, a Michigan corporation with a place of business at 47900 Bayside Parkway, Fremont, CA
94538 (“Stryker”). Stryker and Microbot are referred to herein as either a “Party” individually, or as
the “Parties” collectively.

 

Recitals

 

WHEREAS,
Microbot has expertise in micro-robotic medical technologies including without limitation, their remote-site-controlled robotic platform,
the “LIBERTY® Platform Technology”;

 

WHEREAS,
Stryker has expertise in and is engaged in the development and commercialization of certain medical device products;

 

WHEREAS,
Microbot has developed and owns the micro-robotic medical LIBERTY® System (as defined below) (the “LIBERTY® System”);

 

WHEREAS,
Stryker owns or controls certain intellectual property relating to its medical device products including but not limited to its [***],
and other neurovascular access technology (the “Devices Technology”);

 

WHEREAS,
the Parties now desire to enter into a collaborative development program to explore the use of the LIBERTY System in potential new products
and in combination with the Device Technology as further outlined in Exhibit B which is hereby attached to this Agreement (“Project”);

 

NOW
THEREFORE, in consideration of the mutual agreements and understandings set forth herein, the Parties hereby agree as follows:

 

Definitions

 

	1.1.	“Affiliate”
    means, as to any Person, any other Person which directly or indirectly controls, is controlled by, or is under common control with
    such Person. For purposes of the preceding definition, “control” means beneficial ownership of 50% or more of the outstanding
    voting securities of a Person or the ability to elect a majority of the board of directors or other managing authority of such Person
    or otherwise to control the direction of the management or policies of such Person (whether by contract or otherwise).
	 	 
	1.2.	“Microbot
    Indemnitees” has the meaning set forth in Section 8.2.

 

    	 	1	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

	1.3.	“Microbot
    IP” means all Intellectual Property owned or controlled by Microbot.
	 	 
	1.4.	“Background
    IP” means all Intellectual Property (a) made, invented, developed, conceived, authored, first reduced to practice, licensed,
    acquired, owned or controlled by a Party prior to the effective date of the first Development Plan under this Agreement or outside
    any Development Plan of this Agreement (b) made, invented, developed, conceived, authored or first reduced to practice under this
    Agreement solely by a Party independently, without using nor relying on the other Party’s Confidential Information or (c) licensed,
    acquired, owned or controlled by a Party during the term of this Agreement not under the Development Plan; but excluding any Jointly
    Developed IP. 
	 	 
	1.5.	“Challenges”
    has the meaning set forth in Section 4.3
	 	 
	1.6.	“Confidential
    Information” means, subject to the exceptions set forth in Section 6.2, all information regarding a Party’s technology,
    products or business that is disclosed in such a manner or is of such a character as would put a reasonable person on notice as to
    the confidential and proprietary nature of such information, that such Party discloses or makes available to the other Party under
    this Agreement, or discloses or makes available to the other Party under the Confidentiality Agreement, in each case, whether in
    oral, written, graphic, electronic or other form. The terms and conditions of this Agreement shall be considered Confidential Information
    of both Parties.
	 	 
	1.7.	“Development
    Activities” means any and all development, research, inspection, testing or other activities performed, or to be performed,
    by a Party as part of the Project as described in Exhibit B, with respect to the Products described therein, pursuant to this Agreement,
    as more fully set forth and detailed in a Development Plan; for the sake of clarity, Development Activities shall not include any
    activities to commercialize a Product.
	 	 
	1.8.	“Development
    Plan” has the meaning set forth in Section 2.1.
	 	 
	1.9.	“Field”
    means any interventional robotic assisted neurovascular procedures.
	 	 
	1.10.	“Information”
    means any and all ideas, concepts, data, know-how, discoveries, improvements, methods, techniques, technologies, systems, specifications,
    analyses, products, practices, processes, procedures, protocols, research, tests, trials, assays, controls, prototypes, formulas,
    descriptions, formulations, submissions, communications, skills, experience, knowledge, plans, objectives, algorithms, reports, results,
    conclusions and other information and materials, irrespective of whether or not copyrightable or patentable and in any form or medium
    (tangible, intangible, oral, written, electronic, observational or other) in which such Information may be communicated or subsist.

 

    	 	2	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

	1.11.	“Intellectual
    Property” means (a) inventions (whether or not patentable) and improvements thereto, patents and patent applications and disclosures
    relating thereto (and any patents that issue as a result of those patent applications), and any renewals, reissues, reexaminations,
    utility models, extensions, continuations, continuations-in-part, divisions, certificate of inventions, and substitutions relating
    to any of the patents and patent applications, as well as all related foreign patent and patent applications that are counterparts
    to such patents and patent applications and any other governmental grant for the protection of inventions or industrial designs,
    (b) trademarks, service marks, trade dress, Internet domain names, logos, brand names, trade names and corporate names, whether registered
    or unregistered, and the goodwill associated therewith, together with any registrations and applications for registration thereof,
    (c) copyrights and rights under copyrights, whether registered or unregistered, including moral rights, and any registrations and
    applications for registration thereof, (d) mask works and registrations and applications for registration thereof; (e) computer software,
    including any source code, machine code, or object code, (f) trade secrets and Information, including, for example, know-how, concepts,
    methods, processes, designs, schematics, drawings, formulae, technical data, specifications, research and development information,
    technology, and business plans, and (g) copies and tangible embodiments of the foregoing.
	 	 
	1.12.	“LIBERTY
    Platform Technology” means: [***].
	 	 
	1.13.	“LIBERTY
    System” means a robotic system based upon the LIBERTY Platform Technology [***], as further defined detailed in Exhibit
    A.
	 	 
	1.14.	“Jointly
    Developed IP” means all Intellectual Property first made, invented, conceived, authored, developed, created or reduced to practice
    after the Effective Date as a result of the joint efforts (i.e., at least one inventor from each Party) of the Parties or their Affiliates,
    pursuant to any Development Plan under this Agreement. Inventorship shall be determined by United States patent law. 
	 	 
	1.15.	“Person”
    means an individual, corporation, partnership, joint venture, limited liability entity, governmental authority, unincorporated organization,
    trust, association or other legal person or entity.
	 	 
	1.16.	“Product(s)”
    means the Product for use in the Field that incorporates, or is based on, the combination or the joint use of the LIBERTY System
    and the Devices Technology that result from the Project as set out in the Project (Exhibit B) and any Development Plan associated
    therewith. 
	 	 
	1.17.	“Stryker
    Indemnitees” has the meaning set forth in Section 8.1.
	 	 
	1.18.	“Territory”
    means every country in the world. 
	 	 
	1.19.	“Third
    Party” means any entity other than Stryker or Microbot or an Affiliate of Stryker or Microbot.

 

    	 	3	 

     

    

 

Certain
Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

Joint Development Activities

 

	2.1.	Development
    Plans. The Development Activities with respect to the Project identified in Exhibit B, to be performed by each Party shall be
    specified in writing in one or more Development Plans to be derived from Exhibit B (each, a “Development Plan”)
    to be mutually agreed to and signed by both Parties, which shall include the timeline and schedule for the Development Activities,
    any deliverables and any other relevant terms and conditions. Each Development Plan shall be incorporated herein by this reference
    and shall be subject to all of the terms and conditions of this Agreement. To the extent any terms or conditions of a Development
    Plan conflict with the terms and conditions of this Agreement, the terms and conditions of the Development Plan shall control. Any
    changes to a Development Plan shall be in writing, executed by each Party, and attached to the original Development Plan. The Parties
    shall use commercially reasonable efforts to work together to develop the Products in accordance with the terms and conditions of
    this Agreement and any Development Plan.
	 	 
	2.2.	Records;
    Results. Each Party shall keep accurate and complete records that generally reflect all work done and results achieved in the
    performance of the Development Activities, including all information used or developed in connection therewith. 
	 	 
	2.3.	Costs
    and Expenses. Except as otherwise provided in this Agreement or a Development Plan, each Party will bear its own costs and expenses
    in connection with the performance of this Agreement and its assigned Development Activities, including, but not limited to, labor,
    management, engineering, travel, time, and equipment necessary to carry out its obligations set forth herein.

 

COVENANTS Related TO iP

 

	3.1.	Microbot
    Covenants. Microbot hereby covenants that at no time shall it, directly or indirectly, initiate, induce, assist or participate
    in any action or proceeding against Stryker, its affiliates, successors and assigns, based upon an assertion that Stryker’s
    performance of its Development Activities under a Development Plan infringes any of Microbot’s Background IP. For avoidance
    of doubt, the covenant granted hereunder shall not include the right of Stryker to commercialize any Products or to use any of Microbot’s
    Background IP for any purpose other than the performance of Stryker’s Development Activities hereunder without further written
    agreement between the Parties.
	 	 
	3.2.	Stryker
    Covenants. Stryker hereby covenants that at no time shall it, directly or indirectly, initiate, induce, assist or participate
    in any action or proceeding against Microbot, its affiliates, successors and assigns, based upon an assertion that Microbot’s
    performance of its Development Activities under a Development Plan under this Agreement infringes any of Stryker’s Background
    IP. For avoidance of doubt, the covenant granted hereunder shall not include the right of Microbot to commercialize any Products
    or to use any of Stryker’s Background IP for any purpose other than the performance of Microbot’s Development Activities
    hereunder without further written agreement between the Parties.

 

    	 	4	 

     

    

 

Certain
Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

Ownership and Intellectual Property Rights

 

	4.1.	Background
    IP. The Parties acknowledge and agree that (a) each Party shall retain its right, title and interest, if any, in its Background
    IP and (b) neither this Agreement, nor either Party’s performance hereunder, shall alter the ownership of, or either Party’s
    rights in or to, its Background IP. 
	 	 
	4.2.	Reservation
    of Rights. Except as expressly provided in this Agreement, under no circumstances shall a Party acquire or obtain any ownership
    interest or other licenses, right, title or interest in or to any Background IP or Confidential Information of the other Party, whether
    by implication, estoppel or otherwise. Any rights not expressly granted herein are reserved.
	 	 
	4.3.	Jointly
    Developed IP.
	 	 	 
	 	4.3.1.	Ownership.
    Jointly Developed IP shall be owned by one Party and licensed back to the other Party as further detailed below. Ownership will be
    based on the nature of the Jointly Developed IP as it relates to each Parties’ respective business, i.e. in the case of Microbot
    – Microbot will own the Jointly Developed IP in the field of the LIBERTY Platform Technology, and in the case of Stryker –
    Stryker will own the Jointly Developed IP in the field of the Devices Technology (each such business shall be referred to as the
    applicable party’s “Business”). 
	 	 	 
	 	4.3.2.	Each
    Party agrees to execute any documents that the other Party may reasonably request to confirm the other Party’s title to and
    ownership of the Jointly Developed IP.
	 	 	 
	 	4.3.3.	License
    of Jointly Developed IP. The Party assigned the Jointly Developed IP grants to the other Party a worldwide, irrevocable, perpetual,
    royalty-free, paid-up, nonexclusive, sub-licensable license to the Jointly Developed IP. For the avoidance of doubt, this license
    does not extend to the Background IP of the assigning Party, which is not being licensed hereunder. 
	 	 	 
	 	4.3.4.	Prosecution
    and Maintenance of Equal Joint IP. If the Jointly Developed IP relates equally and undividedly both to the LIBERY Platform Technology
    and to the Devices Technology, such that such Jointly Developed IP cannot be identified as pertaining exclusively to either Party’s
    Business (“ Equal Joint IP”), such Jointly Developed IP shall be jointly and equally owned by bother Parties.
    The Parties shall mutually agree upon (a) a patent filing strategy for the Equal Joint IP and (b) which Party shall prosecute any
    patent applications covering Equal Joint IP. Neither Party shall file any patent application covering Equal Joint IP without the
    prior written consent of the other Party. The prosecuting Party for the Equal Joint IP shall consult with the non-prosecuting Party
    on all matters concerning the preparation, filing, prosecution and maintenance of all patent applications, amendments and other documents
    relating to any Equal Joint IP, including the selection of patent counsel to handle any matter concerning Equal Joint IP, and shall
    consider all input and information and implement all reasonable requests provided by the non-prosecuting Party. Except as otherwise
    provided in this Section 4.3.3, the Parties shall share equally the costs of searching, preparing, filing and prosecuting patent
    applications (and maintaining resulting patents) for Equal Joint IP. If a Party desires to file a patent application in a given country
    claiming Equal Joint IP and the other Party declines to participate, the declining Party shall not be required to share in such costs
    but shall assign its ownership rights in such Equal Joint IP in such country to the filing Party and the filing Party shall grant
    to the declining Party an irrevocable, perpetual, royalty free, paid-up, non-exclusive license under such Equal Joint IP. If a Party
    desires to abandon or discontinue its participation in or payment for any patent application or issued patent claiming Equal Joint
    IP, such Party shall inform the other Party at least two (2) months prior to any potential abandonment so that the other Party may
    decide whether to have such patent application or patent maintained, and if so, the Party will assign it rights in such patent application
    or patent to the other Party and the other Party shall grant to the Party an irrevocable, perpetual, royalty-free, paid-up, non-exclusive
    license to the patent application or patent.

 

    	 	5	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

	 	4.3.5.	Enforcement
    of Jointly Developed IP and Equal Joint IP. Each Party shall promptly notify the other Party of an infringement of any Jointly
    Developed IP and Equal Joint IP of which such Party becomes aware. In the case of Equal Joint IP, the Parties shall consult with
    one another to determine which Party, or whether the Parties together, shall initiate action against an infringer, including legal
    action. The non-initiating Party, if any, shall fully cooperate with and assist the initiating Party in any such action and the initiating
    Party shall reimburse the other Party for reasonable out-of-pocket expenses it incurs in providing the requested assistance. The
    initiating Party(ies) shall be entitled to retain all damages that it is awarded in any such action. If the Parties cannot agree
    whether or which Party shall initiate an infringement action, then either Party may independently pursue such action, provided that
    the Party pursuing such action gives the other Party not less than 30 days of prior written notice of its decision to pursue such
    action and the opportunity to share equally in the costs of pursuing such action. If the Parties share equally the costs of the action,
    then all damages awarded in such action shall be shared equally by the Parties. Otherwise, any recovery from such action shall be
    divided between the Parties in proportion to their contributions to the action.
	 	 	 
	 	4.3.6.	Defense
    of Jointly Developed IP and Equal Joint IP. Each Party shall promptly notify the other Party of any action, threat of action,
    lawsuit, proceeding, litigation or other allegations challenging the validity of any Jointly Developed IP or Equal Joint IP (collectively
    “Challenges”), regardless of whether the Challenges arise or may arise in a judicial or administrative forum, including
    without limitation any petition for inter partes review. In the case of Equal Joint IP, the Parties shall consult with one
    another to determine which Party, or whether the Parties together, will defend against such Challenges. The non-defending Party,
    if any, shall fully cooperate with and assist the defending Party in any such proceedings. The defending Party shall reimburse the
    non-defending Party for reasonable out-of-pocket expenses it incurs in providing the requested assistance. If a Party or the Parties
    together choose to defend against any Challenges, the Parties shall consult with one another in good faith to determine an arrangement
    for paying the costs of defending against any such Challenges. 

 

	 	4.3.7.	License
    Out of Equal Joint IP. Each Party shall have the right to use the Equal Joint IP as it deems fit, without the consent of, and
    without accounting to, the other Party.

 

    	 	6	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

Termination

 

	5.1.	Term.
    The term of this Agreement shall commence on the Effective Date and continue until the completion of the last Development Plan agreed
    upon, unless the Agreement is terminated earlier by either Party in accordance with this Article 5.
	 	 
	5.2.	Termination.
    The Parties shall initially attempt to resolve all claims, disputes or controversies arising under, out of or in connection with
    this Agreement by conducting good faith negotiations with their respective management. This Agreement may be terminated as follows:
	 	 	 
	 	5.2.1.	By
    either party upon written notice to the other Party if such other Party materially breaches any provision of this Agreement and,
    if such breach is curable, fails to cure such breach within 30 days of delivery of written notice of such breach;
	 	 	 
	 	5.2.2.	By
    either Party upon written notice to the other Party if such other Party: (a) becomes insolvent or admits its inability to pay its
    debts generally as they become due; (b) becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign
    bankruptcy or insolvency law, which is not stayed within 60 days after filing; (c) is dissolved or liquidated or takes any corporate
    action for such purpose; (d) makes a general assignment for the benefit of creditors; or (e) 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.
	 	 	 
	 	5.2.3.	By
    either Party upon written notice reasonably in advance to the other Party if reasonably necessary to facilitate regulatory approval
    of a merger or other acquisition transaction; or
	 	 	 
	 	5.2.4.	By
    the non-assigning Party, immediately upon written notice, in the event the other Party undergoes a merger, change of control, acquisition
    of its assets pertaining to this Agreement. 
	 	 	 
	 	5.2.5.	By
    either Party for any reason or no reason upon 60 days written notice to the other Party.
	 	 	 
	5.3.	Effect
    of Termination.
	 	 	 
	 	5.3.1.	Upon
    notice of termination of this Agreement for any reason, the Parties shall continue to perform in accordance with the Agreement until
    the termination date. On the termination date, ownership of any work-in-process shall be determined in good faith by the Parties
    in accordance with Article 4, and any and all information, including, without limitation, designs, methods, know-how, research, documentation
    and data related to such work-in-process and which may be developed utilizing such work-in-process as of the termination date shall
    be provided to each Party. Any costs associated with reproduction of such information shall be shared equally by the Parties regardless
    of which Party is in possession of such information.

 

    	 	7	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

	 	5.3.2.	Termination
    of this Agreement shall not relieve the Parties of any obligations accruing prior to the effective date of termination. Any termination
    of this Agreement shall not preclude either Party from pursuing all rights and remedies it may have hereunder at law or in equity
    with respect to any breach of this Agreement nor prejudice either Party’s right to obtain performance of any obligation.
	 	 	 
	5.4.	Survival.
    The rights and obligations of the Parties set forth in Articles 3, 4, 7, 8, 9 and 10 and Sections 6.3 and 6.4, and any right, obligation
    or required performance of the Parties in this Agreement which, by its express terms survives termination of this Agreement, shall
    survive any such termination.
	 	 	 
	Confidentiality
	 	 	 
	6.1.	Confidentiality.
    Each Party agrees that during the term of this Agreement and for a period of five (5) years thereafter, such Party will protect and
    hold the other Party’s Confidential Information in trust and confidence, that it will not use such Confidential Information
    in any manner or for any purpose not expressly set forth in this Agreement, and will not disclose any such Confidential Information
    to any party other than to its personnel who has a “need to know” such Confidential Information for the purpose of performing
    this Agreement. without first obtaining the other Party’s consent on a case-by-case basis. However, with respect to Confidential
    Information that constitutes a trade secret under applicable law, such rights and obligations will survive such expiration until,
    if ever, such Confidential Information loses its trade secret protection other than due to an act or omission of Receiving Party
    or its Representatives. The Parties hereto understand and agree that this Article 7 is reasonable and necessary to protect each Party’s
    business interests and in addition to any other rights or remedies it may have at law or in equity, each Party shall be entitled
    to seek injunctive relief with respect to any breach or threatened breach of this Article 7 without the necessity of the proof of
    actual damages or the posting of a bond or other security.
	 	 
	6.2.	Knowledge
    of the relationship between Stryker and Microbot is considered Confidential Information between the Parties, and neither party may
    disclose the terms of this Agreement or any Development Plan without the prior written consent of the Other Party, such consent shall
    not be unreasonably withheld. Notwithstanding the above, disclosure of such existence and/or terms of this Agreement (including a
    reproduction of and/or summary of the terms of this Agreement) may be disclosed by a Party hereunder (a) to a Third Party, without
    the consent of the other Party, in customary due diligence processes with respect to such Party and/or its respective business and
    (b) in accordance with applicable United States securities laws and the rules and regulation thereunder, and the rules and regulations
    of any stock exchange a Party’s securities are then listed, traded or quoted, all as reasonably determined by the disclosing
    Party.

 

    	 	8	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

	6.3.	Exceptions.
    Confidential Information of a disclosing Party shall not include information which the receiving Party can demonstrate by competent
    evidence: (a) is now or hereafter becomes part of the public domain through no breach of this Agreement by the receiving Party, (b)
    is known by the receiving Party at the time of receiving such information from the disclosing Party, as evidenced by its written
    records, (c) is rightfully received by the receiving Party from a Third Party without a duty of confidentiality or other restriction
    on disclosure, or (d) is independently developed by the receiving Party without the use of or reference to Confidential Information
    of the disclosing Party, as evidenced by the receiving Party’s written records.
	 	 
	6.4.	Authorized
    Disclosure. Each Party may disclose Confidential Information belonging to the other Party to the extent such disclosure is reasonably
    necessary in the following instances: (a) complying with applicable court orders or applicable laws, rules or regulations; and (b)
    disclosure to a Party’s Affiliates, provided that Confidential Information so disclosed shall remain subject to this Article
    7. In the event a Party is required to make a disclosure of the other Party’s Confidential Information pursuant to the preceding
    clause (a), it will, (i) to the extent permitted by applicable law, provide prompt written notice to the other Party so that such
    other Party may seek a protective order or other appropriate remedy, and (ii) disclose only the portion of Confidential Information
    that it is legally required to furnish. If a protective order or other remedy is not obtained, or the disclosing Party waives compliance
    under this Article 7, the receiving Party shall use reasonable efforts to obtain assurance that confidential treatment will be afforded
    the Confidential Information.
	 	 
	6.5.	Pre-existing
    Projects. Each of the Parties, as a disclosing Party, understands that the other Party, as a receiving Party, may currently or
    in the future be developing information internally, or receiving information from others that may be similar to the disclosing Party’s
    Confidential Information. Nothing in this Agreement shall limit a receiving Party’s existing research and/or development, plans
    or programs in existence when the Confidential Information is disclosed to the extent that the receiving Party does not use the Confidential
    Information belonging to the disclosing Party as part of its existing research and/or development plans or programs. Nothing in this
    Agreement shall be construed as a representation or inference that the receiving Party shall not develop products or services or
    have products or services developed for the receiving Party that, without violation of this Agreement, compete with the products
    or systems contemplated by the disclosing Party’s Confidential Information. Nothing in this Agreement shall be construed or
    interpreted to prevent the receiving Party from filing a patent application on the receiving Party’s own inventions that were
    conceived independently of the disclosing Party’s Confidential Information.

 

    	 	9	 

     

    

 

Certain
Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

Representations, Warranties and COVENANTS; disclaimer

 

	7.1.	Mutual
    Representations and Warranties. Each Party represents and warrants that (a) such Party is duly organized, validly existing and
    in good standing under the laws of the place of its establishment or incorporation, (b) such Party has taken all action necessary
    to authorize it to enter into this Agreement and perform its obligations under this Agreement, (c) this Agreement will constitute
    the legal, valid and binding obligation of such Party, (d) neither the execution of this Agreement nor the performance of such Party’s
    obligations hereunder will conflict with, result in a breach of, or constitute a default under any provision of the organizational
    documents of such Party, or of any law, rule, regulation, authorization or approval of any government entity, or of any agreement
    to which it is a party or by which it is bound, and (e) such Party is financially solvent and has sufficient working capital to perform
    all of its duties and obligations under this Agreement.
	 	 
	7.2.	Covenants.
    Each Party represents, warrants and agrees that: (a) it will perform all of its obligations under this Agreement in a professional
    and workmanlike manner according to industry standards; and (b) it will comply in all material respects with all applicable laws
    governing this Agreement and its performance hereunder.
	 	 
	7.3.	Disclaimer.
    Except as expressly set forth herein, each Party expressly disclaims any and all warranties
    of any kind, express or implied, including without limitation, any warranty of design, merchantability, fitness for a particular
    purpose, non-infringement of the intellectual property rights of third parties, or arising from a course of dealing, usage or trade
    practices, in respect of the Intellectual Property furnished or Development Activities provided by such Party pursuant to this Agreement.
	 	 
	7.4.	Limitation
    of Liability. Except for liability for breach of Article 6 and Section 4.1, neither Party
    shall be liable to the other Party for any DIRECT, incidental, indirect, special, punitive or consequential damages, or for lost
    profits, savings or revenues of any kind, or for loss ARISING OUT OF THIS AGREEMENT ; provided, however, that this Section
    ‎7.4 shall not be construed to limit either Party’s indemnification rights or obligations under Article 8.
	 	 
	Indemnification
	 	 
	8.1.	Microbot
    Indemnification Obligations. Microbot shall defend Stryker and its officers, directors, employees, consultants and agents (“Stryker
    Indemnitees”) from and against any and all Third Parties’ claims, demands, action or proceeding by any Third Party (“Claims”)
    which arise out of (a) a material breach of the confidentiality obligations hereunder; (b) the gross negligent or intentional misconduct
    of Microbot, or (c) the violation of any applicable law or regulation by Microbot and shall indemnify and hold harmless Stryker Indemnitees
    from and against losses, damages, liabilities, claims, costs, charges, judgments and expenses (including reasonable attorneys’
    fees) awarded in such Claims by a competent jurisdiction or in a settlement to which Microbot is a party”) .

 

    	 	10	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

	8.2.	Stryker
    Indemnification Obligations. Stryker shall defend Microbot and its officers, directors, employees, consultants and agents (“Microbot
    Indemnitees”) from and against any and all Claims which arise out of (a) a material breach of the confidentiality obligations
    hereunder; (b) the gross negligent or intentional misconduct of Stryker, or (c) the violation of any applicable law or regulation
    by Stryker and shall indemnify and hold harmless Microbot Indemnitees from and against losses, damages, liabilities, claims, costs,
    charges, judgments, and expenses (including reasonable attorneys’ fees) awarded in such Claims by a competent jurisdiction
    or in a settlement to which Stryker is a party.
	 	 
	Miscellaneous
	 	 
	9.1.	Force
    Majeure. Neither Party shall be liable, or be deemed to be in default, to the other Party hereunder by reason or on account of
    any delay or omission caused by epidemic, fire, power outages, action of the elements, strikes, lockouts, labor disputes, governmental
    law, regulations, ordinances, order of a court of competent jurisdiction, executive decree or order, act of God or public enemy,
    terrorism, war, riot, civil commotion, earthquake, flood, accident, explosion, casualty, embargo or any other cause beyond the control
    of such Party, or any act, delay or omission not due to the negligence or default of such Party. The time of performance for each
    Party’s obligations under this Agreement shall be extended by such period of enforced delay; provided, however, that in the
    event such period of extended delay exceeds 60 days with respect to a Party, the other Party may terminate this Agreement upon notice
    to such Party.
	 	 
	9.2.	Notices.
    All notices or demands in connection with this Agreement given to or made upon either Party shall be in writing and sent to the Party
    at the following address, as may be modified from time to time by written notice:

 

	 	Microbot
    Medical, Inc	Stryker
    Corporation
	 	25
    Recreation Park Drive, Suite 108	47900
    Bayside Parkway
	 	Hingham,
    MA 02043	Fremont,
    CA 94538
	 	Ph:
    (781) 875-3605	Ph:
    (510) 413-2500
	 	Facsimile:
    (781) 556 -5347	Facsimile:
    (844) 325-6664
	 	Attn:
    Harel Gadot	Attn:
    Legal Department
	 	Email:harel@microbotmedical.com
    	Email:
    NVLegal@stryker.com

 

	9.3.	Assignment.
    Neither this Agreement nor any of the rights or obligations created herein may be assigned by either Party, in whole or in part (including
    any assignment by operation of law), without the prior written consent of the other Party, except that each Party shall be free to
    assign this Agreement without the prior consent of the other Party (a) to an Affiliate, or (b) in connection with any merger, sale
    of a Party or sale of all or substantially all of the assets or stock of a Party that relate to this Agreement, (but subject to the
    right of the other Party to terminate this Agreement in the circumstances described in Section ‎5.2.4). This Agreement
    shall bind and inure to the benefit of the successors and permitted assigns of the Parties. Any assignment of this Agreement in contravention
    of this Section 9.3 shall be null and void.

 

    	 	11	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

	9.4.	Entire
    Agreement. This Agreement sets forth the entire understanding of the Parties hereto with respect to the subject matter hereof,
    and may not be modified, amended, supplemented or waived, except by a writing signed by both Parties. This Agreement supersedes and
    replaces in its entirety any prior or contemporaneous agreement, whether written or oral, between the Parties with respect to the
    subject matter hereof.
	 	 
	9.5.	No
    Waiver. A waiver, express or implied, by either Party of any right of such Party hereunder or of any breach hereof by the other
    Party will not constitute or be deemed to be a waiver of any other right hereunder or of any breach hereof by such other Party, whether
    of a similar or dissimilar nature thereto.
	 	 
	9.6.	Independent
    Contractors. The relationship between Stryker and Microbot created by this Agreement is solely that of independent contractors.
    This Agreement does not create any agency, distributorship, employer-employee, partnership, joint venture or similar business relationship
    between the Parties. Neither Party is a legal representative of the other Party, and neither Party can assume or create any obligation,
    representation, warranty or guarantee, express or implied, on behalf of the other Party for any purpose whatsoever. Each Party shall
    use its own discretion and shall have complete and authoritative control over its employees and the details of performing its obligations
    under this Agreement. 
	 	 
	9.7.	Governing
    Law. The Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York without
    regard to its conflicts of laws principles. 
	 	 
	9.8.	Equitable
    Relief. Each Party acknowledges that a breach by the other party of this Agreement may cause the non-breaching Party irreparable
    harm, for which an award of damages would not be adequate compensation and, in the event of such a breach or threatened breach, the
    non-breaching Party shall be entitled to seek equitable relief, including in the form of a restraining order, orders for preliminary
    or permanent injunction, specific performance and any other relief that may be available from any court. These remedies shall not
    be deemed to be exclusive but shall be in addition to all other remedies available under this Agreement at law or in equity, subject
    to any express exclusions or limitations in this Agreement to the contrary.
	 	 
	9.9.	No
    Third Party Beneficiaries. This Agreement is for the sole benefit of the Parties hereto and their respective successors and permitted
    assigns and nothing herein, express or implied, is intended to or shall confer upon any other Persons any legal or equitable right,
    benefit or remedy of any nature whatsoever, under or by reason of this Agreement.
	 	 
	9.10.	Severability.
    If any provision of this Agreement shall be declared invalid or illegal for any reason whatsoever, then notwithstanding such invalidity
    or illegality, the remaining terms and provisions of this Agreement shall remain in full force and effect in the same manner as if
    the invalid or illegal provision had not been contained herein; provided that the illegal, invalid or unenforceable provisions are
    not material to the overall purposes or operation of the Agreement, and such invalid, unenforceable or illegal provision shall be
    valid, enforceable and legal to the maximum extent permitted by law.
	 	 
	9.11.	Counterparts.
    This Agreement may be executed in any number of counterparts (including those delivered by facsimile or other electronic means),
    each of which shall be considered an original and all of which taken together shall constitute one and the same instrument.

 

[Signature
Page Follows]

 

    	 	12	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

IN
WITNESS, WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the Effective
Date.

 

	STRYKER CORPORATION acting through its
    NEUROVASCULAR DIVISION	 	MICROBOT MEDICAL, INC
	 	 	 	 	 
	By:	/s/
    Bill Roskopf	 	By:	/s/
    Harel Gadot
	 	 	 	 	 
	Name:	Bill
    Roskopf	 	Name:	Harel
    Gadot
	 	 	 	 	 
	Title:	Vice
    President, Business Development and Strategic Planning 	 	Title:	Chief
    Executive Officer
	 	 	 	 	 
	Date:	December
    22, 2021	 	Date:	December
    14, 2021

 

Exhibit
A – The LIBERTY System

 

Exhibit
B – Product Development Plan

 

    	 	13	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

EXHIBIT
A

 

LIBERTY
SYSTEM

 

[***]

 

    	 	14	 

     

    

 

Certain
                                            Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

EXHIBIT
B

 

PRODUCT
DEVELOPMENT PLAN

 

The
following Development Plan is an Exhibit to the Technology Co-Development Agreement (“Agreement”) entered into by
and between Stryker Corporation, acting through its Neurovascular Division (“Stryker”), and Microbot
Medical, Inc (“Microbot”). This Development Plan will be governed by the Agreement and as set forth below. Capitalized
terms used in this Development Plan without definition will have the respective meanings given to them in the Agreement.

 

STRYKER
DIVISION: Neurovascular

 

PROJECT
DESCRIPTION OR NAME: Robotic Neurovascular Access Project involving the LIBERTY System and the Devices Technology (as
defined in the Agreement)

 

	 	1.	Scope
    of Development Plan

 

Stryker
desires to partner with Microbot to collaborate in the development of NV applications that integrate the LIBERTY System of Microbot and
the Devices Technology of Stryker (as such terms are defined in the Agreement) (the “Project”). Products created from
the Project, if any, shall be for use in the Field in the Territory.

 

Stryker
will dedicate non-cash resources to the Project that include, but are not limited to:

 

	 	●	[***]
	 	●	[***]
	 	●	[***]
	 	●	[***]
	 	●	[***]
	 	●	[***]
	 	●	[***]
	 	●	[***]
    

 

Microbot
will dedicate non-cash resources to the Project that include, but are not limited to:

 

	 	●	[***]
	 	●	[***]
	 	●	[***]
	 	●	[***]

 

This
Project will be completed in phases as outlined in Table 1 below.

 

    	 	15	 

     

    

 

Certain
Identified Information Has Been Excluded From The Exhibit Because It Is Both (I)

Not
Material And (Ii) Would Be Competitively Harmful If Publicly Disclosed

 

Table
1. Project Phases

 

	Design
    and Development Phase	 	Summary
    of Activities	 	Estimated
    Timing
	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]

 

	 	2.	Term

 

The
term of this Development Plan shall be from the Effective Date until the completion of the Project or as otherwise terminated in accordance
with the Agreement.

 

	 	3.	Regulatory

 

Both
Stryker and Microbot shall provide documentation, and other reasonable support as requested to assist with regulatory filings as may
be needed in Phase II and/or Phase III. However, Microbot will not provide any documentation to Stryker without the written request from
Stryker and will limit such documentation to the minimal amount reasonable.

 

The
terms set forth in this Development Plan may be amended as mutually agreed and signed by both Parties.

 

IN
WITNESS WHEREOF, the Parties hereto have caused this Development Plan to be executed by their duly authorized corporate officers
or representative as of the date signed below.

 

 

	STRYKER CORPORATION acting through its
    NEUROVASCULAR DIVISION	 	MICROBOT MEDICAL, INC
	 	 	 	 	 
	By:	/s/
    Bill Roskopf	 	By:	/s/
    Harel Gadot
	 	 	 	 	 
	Name:	Bill
    Roskopf	 	Name:	Harel
    Gadot
	 	 	 	 	 
	Title:	Vice
    President, Business Development & Strategic Planning	 	Title:	President,
    CEO & Chairman 
	 	 	 	 	 
	Date:	December
    22, 2021	 	Date:	December
    14, 2021

 

    	 	16Exhibit 10.2

 

AMENDMENT NO. 1 TO STOCKHOLDER’S AGREEMENT

 

This Amendment No. 1
(this “Amendment”) to the Stockholder’s Agreement, dated as of January 7, 2021 (the “Stockholder’s Agreement”),
by and between Landsea Homes Corporation (f/k/a LF Capital Acquisition Group), a Delaware corporation (the “Company”),
and Landsea Holdings Corporation, a Delaware corporation (“Stockholder”), is made and entered into as of December
21, 2021, by and between the Company and the Stockholder (together each a “Party” and collectively the “Parties”).
Capitalized terms used but not defined herein shall have the meanings given to them in the Stockholder’s Agreement.

 

WHEREAS, the Parties desire
to amend the Stockholder’s Agreement as provided below.

 

NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

 

	 	1.	Amendments.

 

		 	a.	Section 2.1(a) of the Stockholder’s Agreement is hereby amended and restated to read as set forth below: 

 

“(a)       The
Company and Stockholder shall take all Necessary Action to ensure that the authorized number of directors on the Board of Directors
of the Company (the “Board”) be eleven (11). Stockholder shall, subject to Section 2.2, initially have
the right to nominate eight (8) directors to serve on the Board, two (2) of whom shall satisfy the independent director requirements
under Nasdaq Equity Rule 5605(c)(2)(A) (such Person, an “Independent Director”).”

 

b.           Section 2.2(a) of the Stockholder’s
Agreement is hereby amended and restated to read as set forth below:

 

“2.2        Board Nomination

 

(a)                
For so long as the Combined Ownership Percentage is equal to or greater than the percentage
indicated in the left hand column of the table below, Stockholder shall have the right to nominate for election to the Board that
number of directors indicated in the right hand column of the table below (each a “Director Designee”) or such
higher number of directors to the extent permitted under applicable Law and under the rules of any stock exchange on which the
Class A Common Stock is then listed.”

 

	Combined
Ownership Percentage    	Director
Designees
	50%
plus one share	8
	39%	5
	28%	3
	17%	2
	6%	1

 

 

c.            Section 2.2(b) of the Stockholder’s
Agreement is hereby amended and restated to read as set forth below:

 

    	 

    	 

    

 

“(b)        In
the event a decrease in the Combined Ownership Percentage reduces the number of Director Designees that Stockholder is entitled
to nominate herein, the parties hereto agree that the reduction in the number of Director Designees of Stockholder shall be reduced
in number in accordance with Section 2.2(a). For the avoidance of doubt, in the event that there is a vacancy on the Board
and Stockholder is not entitled to nominate a Director Designee for such vacancy, such nomination shall be made in accordance
with the policies and procedures of the Nominating and Governance Committee (as defined below).”

 

		2.	Effectiveness. This Amendment shall be effective upon the
adoption and execution by the Parties pursuant to Section 5.9 of the Stockholder’s Agreement. 

 

		3.	Governing Law. This Amendment shall be governed in all respects
by the laws of the State of Delaware without regard to any choice of laws or conflict of laws provisions that would require the
application of the laws of any other jurisdiction.

 

		4.	Counterparts. This Amendment may be executed in any number
of counterparts and signatures may be delivered by facsimile or in electronic format, each of which may be executed by less than
all the parties, each of which shall be enforceable against the parties actually executing such counterparts and all of which together
shall constitute one instrument.

 

		5.	General. Except as expressly amended hereby, the Stockholder’s
Agreement shall continue in full force and effect, without any waiver, amendment or modification of any provision thereof. Capitalized
terms used in this Amendment and not otherwise defined in this Amendment will have the meaning given to them in the Stockholder’s
Agreement. 

 

[Signature page follows]

 

    	2

    	 

    

 

IN WITNESS WHEREOF, each
of the Parties has caused this Amendment to be executed as of the date first written above.

 

	 	LANDSEA HOMES CORPORATION
	 	 	 
	 	By:	/s/ John Ho
	 	Name:	John Ho
	 	Title:	CEO
	 	 	 
	 	LANDSEA HOLDINGS CORPORATION
	 	 	 
	 	By:	/s/ Qin Zhou
	 	Name:	Qin Zhou
	 	Title:	CEO

 

Signature
Page to Amendment No. 1 to Stockholder’s Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}]]