Document:

EX-10.15

 Exhibit 10.15 

[*Confidential Treatment has been requested as to certain portions of this document. Each such portion, which has been omitted herein and replaced with an
asterisk [*], has been filed separately with the Securities and Exchange Commission.] 
 MASTER MANUFACTURING AGREEMENT 

For Medical Products / Finished Device Assembly 

[*] Insulin Inhaler 
 This MASTER
MANUFACTURING AGREEMENT (the “Agreement”) is entered into this 25th day of November, 2013 (the “Effective Date”) between Dance Biopharm Inc. (“Buyer”), a Delaware corporation, having an office located at 2 Mint Plaza
#804, San Francisco, CA 94103, and Phillips Plastics Corporation (“Seller”), a Wisconsin corporation, having its headquarters at 1201 Hanley Road, Hudson, WI 54016. Buyer and Seller may sometimes be referred to individually as a
(“Party”) or collectively as the (“Parties”). 
 WHEREAS, Seller is a contract manufacturer and is in the business of manufacturing and
assembling medical device components and subassemblies for its customers and has considerable engineering, development, and manufacturing experience in the area of injection molded plastic and metal parts; 

WHEREAS, Buyer is an emerging biopharmaceutical and medical device company and has personnel with considerable engineering, development, manufacturing,
testing, marketing and sales experience in the above referenced market(s); 
 WHEREAS, Buyer and Seller are parties to a certain Design and Development
Agreement dated August 8, 2013 (the “Development Agreement”); 
 WHEREAS, Buyer now desires to engage the services of Seller to assist with
the manufacture and/or assembly of the “Product” or “Finished Device” (defined below) for both late-stage clinical and commercial use and Seller has expressed a willingness to assist Buyer with same; 

WHEREAS, at Buyer’s request, Seller has submitted current proposal number(s) 22452-70624-04, dated September 20, 2013, entitled Dance
Pharmaceutcals [*] and 22452-1005-2, dated May 20, 2013, entitled Budget Quotation/Price Indiction (hereinafter the “Proposal(s)”), which Proposal(s) are hereby incorporated by reference and attached hereto as Exhibit C, or if
mutually agreed to by the Parties, consecutively numbered Exhibit C’s (i.e. Exhibit C-1, C-2, etc.); and 
 WHEREAS, the Parties hereby agree that
their efforts shall be governed by the terms and conditions set forth herein. 
 NOW, THEREFORE, in reflection of these affirmations, the mutual covenants
and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties do hereby agree as follows: 

	1.	DEFINITIONS 

 In addition to other terms which may be defined herein, the following
terms, when the first letter is capitalized, whether in singular or plural form, as appropriate, shall have the meanings set forth in this Section. 
  

	 	a.	“Affiliates” shall mean any corporation, association, or other entity that directly or indirectly owns, is owned by, or is under common ownership with Buyer or with Seller, respectively, either currently or
during the term of this Agreement. As used in this definition, the terms “owns”, “owned”, or “ownership” mean the direct or indirect possession of more than fifty percent (50%) of the voting securities, income
interest, or a comparable equity in such business entity. 

  

	 	b.	“Buyer Furnished Material(s)” or “BFM(s)” means those components, subassemblies, substances, parts or materials that (i) are not independently manufactured or sourced by Seller, or (ii) are
provided by or on behalf of Buyer to Seller on consignment or other similar basis for incorporation into a Finished Device. The BFMs are set forth on Schedule F attached hereto. For the avoidance of Doubt, BFMs are not to be considered Products.

  

	 	c.	“Calendar Quarter” or “Quarterly” means the three-month period ending on March 31, June 30, September 30 or December 31. 

 

	 	d.	“Claim(s)” shall mean any third party action, suit, arbitration, hearing, inquiry, proceeding, complaint, charge, allegation, investigation or the like. 

 

	 	e.	“Delivery Date” means the date Products or Finished Devices are scheduled to be delivered to the Delivery Location as specified by the Purchase Order and/or Forecast. 

 

	 	f.	“Delivery Location” means the location to which the Products or Finished Devices must be delivered by the common carrier, as specified by the applicable Statement or Work, Purchase Order and/or Forecast.

  

	 	g.	“Design and Development Responsibility” shall mean: (i) responsibility for obtaining all regulatory clearances from the FDA, comparable foreign regulatory agencies, and/or any other federal, state and
local agencies with regulatory authority (ii) responsibility for registration of the drug-device combination Product through filing an NDA with the FDA and other regulatory authorities; and (iii) responsibility for ensuring that the
specifications and other documents governing the manufacture and/or assembly of Product or Finished Device under this Agreement are consistent with any applicable regulatory requirements established by such regulatory authorities. 

 

	 	h.	“Device History Record” shall have the meaning ascribed in 21 CFR 820. 

  

	 	i.	“Device Master Record” shall have the meaning ascribed in 21 CFR 820. 

	 	j.	“Facility” means the Seller’s manufacturing facility located at 705 Wisconsin Drive, New Richmond, WI 54017 and High Road, Letterkenny, Co. Donegal, Letterkenny, Ireland, together with any additional
facilities approved by Buyer 

  

	 	k.	“FDA” shall mean the U.S. Food and Drug Administration. 

  

	 	l.	“Finished Device(s)” means the finished medical device manufactured and/or assembled by Seller as further set forth in the Statements of Work and/or Proposal(s). The Finished Device may be further defined by
mutually agreed upon specifications or other requirements documents. For the avoidance of doubt, Finished Devices are not Products as defined herein. 

  

	 	m.	“Forecast” means the reasonable estimate of Buyer’s future requirements for Products or Finished Devices after taking into account all reasonably foreseeable circumstances for the timeframe noted herein.

  

	 	n.	“Improvement” means Intellectual Property that is developed by either Party or jointly that incorporates, exploits, or cannot be used without employing all or any part of a Party’s existing Intellectual
Property. 

  

	 	o.	“Intellectual Property” means all patents, applications for patents, discoveries, inventions, trade secrets, know-how, confidential information, works of authorship, including computer programs and software,
industrial design, trade secrets, mask works, and other intellectual property rights recognized in any jurisdiction, including Improvements. 

  

	 	p.	“Kickback” means a direct or indirect offer of money, fee, commission, gift, gratuity, thing of value or compensation for the purpose of improperly obtaining or rewarding favorable treatment.

  

	 	q.	“Lead Time” means the typical period of time between the date a Purchase Order for Product or Finished Device is received by Seller and the date the item can be available for shipment. 

 

	 	r.	“Long Lead Materials” means any parts, components, subassemblies, materials, or supplies that are to be incorporated into the Product or Finished Device which Seller must commit, as of the then current date,
to ensure the Delivery Date. 

  

	 	s.	“Loss” or “Losses” shall mean any and all liabilities, damages, losses,costs, fines, penalties, expenses or the like (including reasonable legal and attorneys’ fees). 

 

	 	t.	“MAA” means the Marketing Authorization Application in Europe for the Buyer’s drug/device combination product, including any subsequent submissions, supplements, or amendments thereto. 

 

	 	u.	“Manufacturing Activity” or “Manufacturing Activities” means respectively, a manufacturing or assembly activity, or the manufacturing or assembly activities, performed by Seller in the manufacture
and supply of Products or Finished Devices hereunder including but not limited to the manufacture, testing, packaging, labeling, storing and delivery of the Product or Finished Device to Buyer or to a party designated by Buyer. 

	 	v.	“Material Breach” means a breach which is so substantial that is makes it financially or temporally impractical or impossible for the non-breaching Party to continue performance under the terms of the
Agreement if not timely cured by the breaching Party, such that the non-breaching party will not be able to obtain what was negotiated without seeking performance elsewhere. 

 

	 	w.	“Medical Device” shall have the meaning defined by the Federal Food, Drug, and Cosmetic Act, 21 United States Code §321(h) which reads substantially as follows, “a medical device is an instrument,
apparatus, implement, machine, contrivance, implant, in vitro reagent, or other similar or related article, including a component part, or accessory which is: (i) recognized in the official National Formulary, or the United States
Pharmacopoeia, or any supplement to them; (ii) intended for use in the diagnosis of disease or other conditions, or in the cure, mitigation, treatment, or prevention of disease, in man or other animals; or (iii) intended to affect the
structure or any function of the body of man or other animals, and which does not achieve any of its primary intended purposes through chemical action within or on the body of man or other animals and which is not dependent upon being metabolized
for the achievement of any of its primary intended purposes”. 

  

	 	x.	“Minimum Buy” means any parts, materials, components, or supplies that are to be incorporated into the Product or Finished Devices which are reasonably obtainable in the marketplace, but only in a minimum
order, package, lot size or the like. 

  

	 	y.	“NDA” means the New Drug Application in the United States for the Buyer’s drug/device combination product, including any subsequent submissions, supplements, or amendments thereto. 

 

	 	z.	“New Product Technology” means new technology that specifically relates to the Product or Finished Device, including without limitation, the design, layout, specifications or component parts, and is solely,
uniquely or specifically related to the Project. 

  

	 	aa.	“Non Cancelable Non Returnable” or “NCNR” means materials or components purchased from suppliers under terms and conditions that prohibit cancellation of the order and/or return of the material.

  

	 	bb.	“Product(s)” means the component parts manufactured or sourced by Seller as further set forth in the Statements of Work and/or Proposal. The Products may be further defined by mutually agreed to specifications
or other requirements documents. For the avoidance of doubt, the portions or components of a Medical Device that is not being manufactured or sourced independently by Seller shall not be considered Products. 

	 	cc.	“Specification(s)” means, as applicable, the specifications listed in the applicable Statement of Work or Exhibit D as amended form time to time by mutual agreement of Buyer and Seller. 

 

	 	dd.	“Price(s)” means the amount paid by Buyer to Seller for Product or Finished Devices as set forth in Section 3(e) or the applicable Statement of Work or Exhibit C. 

 

	 	ee.	“Purchase Order(s)” means a binding order for the purchase of Products, Finished Devices or Tooling issued in accordance with and subordinate to this Agreement. 

 

	 	ff.	“Quality Agreement” means the agreement executed and entered into by the Parties on the 6th day of September, 2013, which shall be incorporated herein by
reference. 

  

	 	gg.	Statement(s) of Work” or “SOW(s)” shall have the meanings set forth below in Section 2(b). 

  

	 	hh.	“Tooling” or “Tool(s)” means any tool, mold, jig, fixture or other personal property used in the manufacture of Product. 

 

	2.	CONTRACT TYPE 

  

	 	a.	Type. This Agreement is a “firm-fixed-price” “build-to-print” contract. This Agreement is not a design, development, or engineering services contract. Save for continuous improvement activities and
routine engineering change orders, no design, development, or engineering services are contemplated or permitted under this Agreement. 

  

	 	b.	Manufacturing Activities. A description of the Manufacturing Activities to be performed may be contained in statements of work attached as individual exhibits to this Agreement in consecutively numbered “Exhibit
A’s”, beginning with Exhibit A-1, A-2, A-3 and so forth (each a “Statement of Work” or “SOW”). Each SOW shall be executed by a duly authorized representative of each Party and shall be subject to and deemed a part of
this Agreement upon execution. To the extent that any terms and conditions set forth in a SOW conflict with the terms and conditions set forth in this Agreement (excluding other SOWs), the terms and conditions of this Agreement shall control, unless
otherwise expressly agreed upon by the Parties in such SOW. 

  

	 	c.	Affiliates. Affiliates may accede to, become bound by, and avail themselves to the rights and remedies of this Agreement by signing or otherwise entering a SOW. Such Affiliates shall (i) then be bound by the terms
and conditions of this Agreement as having entered into the Agreement by themselves, and (ii) shall, with respect to the SOW executed by the Affiliate, be considered either a “Buyer” or “Seller” as defined herein. For the
avoidance of doubt, a Party shall be jointly and severally liable for the obligations of its Affiliates. 

	3.	PURCHASE ORDERS , DELIVERY AND PRICE 

  

	 	a.	Forecast. Upon execution of this Agreement Buyer shall furnish Seller with an initial twelve (12) month rolling Forecast attached as Exhibit E. On the first day of each Calendar Quarter thereafter, Buyer shall
furnish Seller with an updated twelve (12) month rolling Forecast. Should Buyer fail to provide quarterly updates to the Forecast as required above, then the most recent Forecast furnished by Buyer shall auto roll by deleting the first Calendar
Quarter and adding a new last Calendar Quarter with zero (0) quantity in the new Calendar Quarter. 

  

	 	b.	Binding and Non-Binding Forecasts. Quantities of Product and/or Finished Device in the first Calendar Quarter of the Forecast are not cancelable and constitute Buyer’s binding obligation to purchase such items. A
Binding Purchase Order will be issued for the first Calendar Quarter of the forecast. The last three calendar Quarters of the Forecast are non-binding with respect to Product or Finished Device being purchased. Buyer, in its sole discretion, may
cancel or reschedule any scheduled deliveries in the last three Calendar Quarters of the current forecast at any time prior to such forecast becoming binding. Notwithstanding Buyer’s right to cancel or reschedule in the last three Calendar
Quarters of the current Forecast, Buyer acknowledges that Seller will rely upon the Forecasts in scheduling work, and in committing to purchase Long Lead Material, NCNR material, and/or Minimum Buy material, and Buyer shall be liable for the related
non-cancellable liabilities and expenses that Seller necessarily incurs to ensure fulfillment of the Forecast. Seller must get Buyer’s written consent before making any commitment to purchase Long Lead Material, NCNR material, and/or Minimum
Buy material, for which Buyer may be liable. 

  

	 	c.	Purchase Orders. Concurrent with the Quarterly update of the Forecast, Buyer shall issue Purchase Order(s) for new binding obligations not covered by previous Purchase Orders, which Purchase Orders shall include: the
Product or Finished Device, quantity, Specifications, Delivery Date (which shall be in accordance with the applicable Lead Time), Delivery Location and Price. Within five (5) days following Seller’s receipt of a Purchase Order, Seller
shall send a written confirmation of receipt and acceptance of the Purchase Order to Buyer. Seller shall not reject any Purchase order that considered in the aggregate with other purchase orders placed pursuant to the Forecast totaling up to one
hundred twenty percent (120%) of the quantities identified in the Forecast. 

  

	 	d.	THE TERMS OF THIS AGREEMENT AND ALL EXHIBITS ATTACHED HERETO SHALL BE CONTROLLING AND ANY ADDITIONAL OR INCONSISTENT TERMS OR CONDITIONS ON ANY PURCHASE ORDER, SALES ACKNOWLEDGEMENT OR OTHER DOCUMENTATION GIVEN OR
RECEIVED BETWEEN THE PARTIES SHALL HAVE NO EFFECT AND SUCH TERMS AND CONDITIONS ARE EXPRESSLY DISCLAIMED AND EXCLUDED. 

  

	 	e.	Cost. Seller shall calculate actual per unit COGs each year during an annual audit process, and provide the detailed calculations to Buyer for review. The Parties will meet from time to time (but no less than once per
year) as requested by Buyer to discuss cost and quality issues, potential efficiency increases, Seller’s performance hereunder, Buyer’s performance hereunder, supply chain conditions, and all other issues which the Parties may deem
appropriate. 

	 	f.	Price. The price from Seller to Buyer will be based on open-book cost plus a margin described below. In conjunction with the other terms and conditions provided herein, the Parties agree that the mark-up for any
component parts which Seller must purchase to assemble a Finished Device shall be no less than [*] and no greater than [*] of the cost therefore. For clarity, the Seller shall not purchase the Aerogen proprietary aerosol generator
component; this component will be purchased from Aerogen by Buyer and provided to Seller for incorporation into the Finished Device, therefore there will be no mark-up by the Seller on this component. The Parties agree that the line item mark-up for
any component and/or Finished Device manufactured by Seller shall be no less than [*] and no greater than [*] thereof. Cost estimates for Product and/or Finished Device is shown in either the applicable Statement of Work or Exhibit C.
At commercial stage, Price shall remain fixed for the period beginning on the date of the Statement of Work or Exhibit C and continuing thereafter for a period of one (1) year (the “Fixed Fee Period’). Notwithstanding, the foregoing,
if the aggregate cost of materials required to manufacture the Product of Finished Device increases or decreases by more than [*], a Party may make a request for an adjustment to the Price equal to the applicable change in material costs by
providing notice thereof to the other Party and the price adjustment shall take effect beginning with the next affected firm Purchase Order; provided however that any request by Seller of a Price increase under this Section 3(e) shall be
subject to Buyer’s approval of Seller’s supporting documentation which approval shall not be unreasonably delayed or withheld. At or prior to the end of the Fixed Fee Period and each year thereafter, the Parties shall negotiate in good
faith to establish new Prices for each subsequent year. Should the Parties fail to mutually agree on new Prices, either Party may terminate this Agreement for their convenience in accordance with Section 8(a). In the event that Buyer terminates
the Agreement pursuant to the foregoing provision, Seller shall be obligated to accept Purchase Orders for any last-time-buy(s) of Product or Finished Device as set forth in Section 10(c). 

 

	 	g.	Delays. Seller shall: (i) promptly notify Buyer, in writing, about any and all material delays; (ii) promptly discuss any such delays with Buyer; and (iii) work with Buyer to mitigate such delays.

  

	 	h.	Delivery. Domestic shipments shall be delivered F.O.B. Seller’s Facility, loaded on the truck of carrier designated by Buyer. International shipments shall be delivered Ex-Works (Incoterms 2010) Seller’s
plant, loaded on the truck of carrier designated by Buyer. 

  

	 	i.	Payment Terms. Payment terms for all undisputed amounts invoiced are net thirty (30) days from the date of Seller’s invoice. Buyer shall notify Seller immediately if Buyer disputes any invoice or portion
thereof. Upon notice to Seller of such dispute, the Parties will negotiate, in good faith, to rectify the disputed portion of the invoice. 

	4.	REGULATORY COMPLIANCE 

  

	 	a.	Buyer Responsibility. Buyer has Design Responsibility for all Products and Finished Devices under this Agreement. Seller shall not make any change to the Product’s or Finished Device’s design, manufacturing
process, materials, or components without Buyer’s prior written approval. Maintenance of Facility. Seller maintains FDA registered facilities which have controls that comply with 21 CFR Part 820 and 21 CFR Part 210/211. Seller is also certified
to several ISO Standards including: ISO 9001:2008, ISO 13485:2003, and ISO 14001. Seller is compliant with, but not registered or certified to: (i) Pharmaceutical Affairs Law 2002 (PAL) [Japan]; (ii) Medical Device Directive 93/42/EEC
[Europe]; (iii) ISO 60601-1, and (iv) ISO 60601-1-2. During the performance of this Agreement, Seller shall continue to maintain the above registrations and/or certifications applicable to the Products, Finished Devices and/or
Manufacturing Activities and also continue to comply with all applicable laws, including those laws, directives, or standards listed above to which Seller is not currently registered or certified. 

 

	 	b.	Compliance. Seller shall comply with all applicable laws including any applicable anti-bribery and anti-collusion laws, statutes and regulations; and neither Party shall offer, grant, demand or accept bribes, illegal
payments, payoffs or Kickbacks in exchange for business opportunities or favorable treatment by with one another. 

  

	 	c.	Quality. In addition to the regulatory requirements set forth in Sections 4(a) through 4(d) above, Seller shall also comply with the Quality Agreement. 

 

	 	d.	Cooperation. Upon request of Buyer, Seller shall reasonably support any regulatory activities (including pre-Approval inspection) of Buyer necessary for regulatory approval of the Product and/or Finished Device.

  

	5.	CONFIDENTIALITY 

 That certain Non-Disclosure Agreement executed by the Parties and made
effective 1 April 2013 is incorporated herein by reference and made a part of this Agreement. 
  

	6.	INTELLECTUAL PROPERTY 

  

	 	a.	Ownership. Each of the Parties hereto owns Intellectual Property developed or acquired at its own expense which pre-existed or exists independently of this Agreement. Each Party shall continue to own its Intellectual
Property and all Improvements thereto. 

  

	 	b.	No Third Party Intellectual Property. Except as specified or approved in writing in advance by Buyer, Seller will not knowingly incorporate into the Finished Device or Product any Intellectual Property that is owned by
third parties. Buyer acknowledges that Seller has not made and is not obligated to make any independent inquiry or investigation as to whether the Product, Finished Device or Manufacturing Activities infringe upon any patent, copyright or trade
secret. 

	 	c.	Improvements and New Product Technology. Seller hereby assigns and agrees to assign to Buyer all right, title and interest in and to all Improvements to Buyer’s Intellectual Property that Seller may develop in the
performance of this Agreement and any New Product Technology. Buyer hereby assigns and agrees to assign to Seller all right, title and interest in and to all Improvements to Seller’s proprietary methods, processes and know-how developed in the
performance of this Agreement provided that Buyer shall have the non-exclusive right and license to use any such Improvements in the manufacture, sale, distrubution and marketing of the Product and Finished Device. The Parties will cooperate fully
to execute assignments and other documents, and furnish evidence, as may be necessary and appropriate, to effectuate the other’s rights to respective Improvements. 

 

	 	d.	Limited License to Buyer’s Technology. Solely for the purposes of carrying out its obligations under this Agreement, Buyer grants to Seller a limited, revocable, non-exclusive license to use Buyer’s respective
Intellectual Property. 

  

	 	e.	Seller Proprietary Methods, Processes and Know-How. Notwithstanding the foregoing, Buyer acknowledges and agrees that Seller may utilize its proprietary methods, processes and know-how during the Manufacturing
Activities contemplated hereunder and that the ownership of any such proprietary methods, processes and know-how are and will remain solely with Seller. Buyer shall have the non-exclusive right and license to such proprietary methods, processes and
know how for use in the manufacture, sale, marketing and distrubtion of the Product and Finished Device. Unless expressly provided herein, no other rights or licenses in any Intellectual Property shall be provided or conferred from one Party to
another. 

  

	7.	ORDER OF PRECEDENCE 

 All exhibits attached hereto form an integral part of this
Agreement (the “Exhibits”). The provisions of each Exhibit shall be incorporated by reference into and be deemed to be a part of this Agreement. If any conflict exists between the provisions of this Agreement and the following documents,
or among the provisions of the Exhibits themselves, the order of precedence shall be as follows: 
  

	 	i.	This Agreement 

  

	 	ii.	Exhibit A – the Statements of Work or SOWs 

  

	 	iii.	Exhibit B – the Nondisclosure Agreement 

  

	 	iv.	Exhibit C – the Proposal(s) 

  

	 	v.	Exhibit D – Specifications 

  

	 	vi.	Exhibit E – Forecast [as updated pursuant to Section 3(a)] 

  

	 	vii.	Exhibit F – Buyer Furnished Materials (as applicable) 

  

	8.	TERM AND TERMINATION 

  

	 	a.	 Term. Unless terminated earlier in accordance with the provisions set forth below in this Section 8, the initial term of this Agreement shall be
for a period of Eight (8) years commencing from the Effective Date. After the initial term, this Agreement will automatically renew on its yearly anniversary for successive one (1) year increments unless either Party provides the other
Party notice of its intent not to renew at the end of the then current renewal term. In the case Buyer does not wish to 

	 	
renew the Agreement, they must provide Seller with at least 90 days advance notice. In the case Seller does not wish to renew, they must follow the same procedure as the termination for
convenience procedure outlined in Section 8b, below. Notwithstanding the expiration or termination of this Agreement or a SOW, this Agreement shall remain in effect solely with respect to any on-going SOWs that are still operative until those
SOWs terminate or expire. 

  

	 	b.	Termination. This Agreement and/or any SOW may be terminated early by: (i) mutual agreement of the Parties hereto; (ii) either Party upon the other’s Material Breach; provided, the non-breaching Party has
given written notice of such perceived breach and the breaching Party has failed to cure such breach within thirty (30) days of receipt of such notice; (iii) by Buyer on sixty (60) days written notice in the event product development
is halted or discontinued due to technical or regulatory issues; (iv) by Buyer for convenience with ninety days (90) written notice; (v) by Seller for convenience following commercial launch of the Product and/or Finished Device on
twenty four (24) months’ written notice. Upon such termination by Seller pursuant to this Section 8(b)(v), Seller shall continue to perform Manufacturing Activities and manufacture Product and/or Finished Devices for Buyer pursuant to
Section 9(d), below, and assist Buyer in transferring the Manufacturing Activities to an alternate supplier, according to an agreed Technology Transfer Plan as provided below. 

 

	 	c.	Technology Transfer Plan. Within ninety (90) days after entering into a SOW, the Parties shall cooperate to devise and agree upon a technology transfer plan (the “Transfer Plan”), which may be updated
from time to time by mutual written agreement of the Parties. Seller shall provide Buyer with the necessary manufacturing transfer assistance, as further detailed below, for a period of six (6) months. The Transfer Plan shall specify the
obligations of each Party, with respect to the transfer of the necessary manufacturing know-how, Buyer-owned tooling and automation equipment, fixtures and components, and Buyer’s property, excluding Seller’s own capital equipment, to an
alternate manufacturing site designated by Buyer. The Parties shall mutually agree upon and document the reasonable costs of the activities under the Transfer Plan, including those costs for technical, managerial, administrative and engineering
services provided by Seller. The aforementioned transfer services will be provided by Seller at the rate at which Seller charges its other customers. For the avoidance of doubt, if Seller is able to fully transfer all manufacturing activities to
Buyer’s alternate supplier prior to the end of the twenty four (24) month termination notice period, as referenced in Section 8(b), above, this Agreement shall automatically terminate upon such transfer. 

 

	 	d.	Outstanding Purchase Orders. Notwithstanding the foregoing, in the event (i) this Agreement is terminated for convenience by Seller, and (ii) provided Buyer is and remains current in its payment obligations,
Seller shall honor all outstanding Purchase Orders as of the date of termination and Buyer shall have the right to make a last-time-buy of Product or Finished Devices. 

	 	e.	Termination of SOWs. With respect to any SOW being terminated, Buyer’s obligation and liability to Seller shall be payment for: (i) all Manufacturing Activities within the scope of that SOW which were
performed up to the effective date of termination, including any expenses for Long Lead Materials and NCNR materials; (ii) any approved out-of-pocket expenses up to and including the effective date of termination; and (iii) all services
requested by Buyer following notice of termination. 

  

	 	f.	Effect of Termination. Termination or expiration of this Agreement and/or any SOW shall not relieve a Party its obligation incurred prior to the termination or expiration date. The terms, conditions, rights and
obligations of this Agreement that are intended by their natural meaning to survive the expiration or termination of this Agreement or any SOW shall do so. 

  

	9.	FORCE MAJEURE 

 Neither Seller nor Buyer shall be liable for a failure to perform under
this Agreement on account of incidents of force majeure, including but not limited to strikes, lockouts, fires, floods, other casualties, explosions, acts of God, material procurement problems that could not have been reasonably avoided,
governmental actions, state of war or other similar causes beyond the reasonable control of Seller or Buyer; provided, that the Parties shall resume performance as rapidly as possible after the force majeure incident ceases, and each Party’s
obligations to perform under this Agreement shall be suspended only for the reasonable duration of the force majeure incident. Seller shall not be liable to Buyer for delay or failure to perform that is attributable to Buyer’s delay or
inability to provide BFMs, secure regulatory approvals, and/or Buyer’s failure to perform its other obligations and responsibilities. 
  

	10.	INDEPENDENT CONTRACTOR 

 Seller and Buyer are independent contractors. Neither Party
shall be construed to be a partner, joint venturer, franchisee, employee, principal, agent, representative or participant of or with the other for any purpose whatsoever. Neither Party shall have any right or authority to assume or to create any
obligation or responsibility, express or implied, on behalf of or in the name of the other. 
  

	11.	RESPONSIBILITIES 

  

	 	a.	Manufacturing Activities. With respect to the Manufacturing Activities performed hereunder, Seller shall, as applicable, manufacture, supply or assemble the Products or Finished Devices initiated and developed by Buyer
in accordance with the Specifications agreed to by Seller and Buyer. Seller will exercise best efforts in the fulfillment of its obligations hereunder and its performance will be in accordance with the regular practices of the injection molded
plastics industry and medical device contract manufacturing and the terms and conditions contained herein. 

  

	 	b.	 Limited Role. Seller’s role is limited to that of a contract manufacturer and it does not, and has not, engaged in the initiation or the
development of any product, the component parts of any product, a finished device, and/or the related designs and specifications. Accordingly, Buyer shall be responsible for design defects and

	 	
compliance with the requirements of medical or combination device manufactures or sellers as set forth in the Federal Food, Drug and Cosmetic Act; comparable foreign regulatory agencies; and/or
any other federal, state, or local agencies, except to the extent that the aforementioned laws and regulations expressly designate a responsibility to a contract manufacturer. Seller, its employees and contractors may rely upon written instructions
and information provided by Buyer, or any person designated by Buyer, and Seller, its employees, agents and contractors shall not incur any liability for such reliance for the actions they take in reliance upon the instructions and information
provided by Buyer, its employees, agents and contractors. Seller shall provide such reasonable assistance as requested by Buyer in connection with Buyer’s compliance with its obligations under this Section 11(b). 

 

	 	c.	Customer Complaints; Recall. The Parties shall cooperate in the investigation of any customer complaint related to the use of the Product or Finished Device. In addition, each of the Parties shall notify the other
promptly if any batch or lot of the Product or Finished Device is the subject of a recall, market withdrawal or correction, and the Parties shall cooperate in the handling and disposition of such recalled, withdrawn or corrected Product or Finished
Devices. To the extent that a recall, market withdrawal or correction relates to Seller’s failure to deliver the Product or Finished Device in accordance with the Specifications, and to the extent that such recall, market withdrawal or
correction occurs within the applicable warranty period, Seller shall, in addition to the remedies provided below in Section 12, reimburse Buyer for the direct and verifiable costs for the inspection, testing, sorting, quarantine, shipping and
re-installation of the recalled, withdrawn or corrected Product or Finished Device; provided that except in cases of gross negligence or intentional misconduct, Seller’s liability shall not exceed ten percent (10%) of the total amount paid
to Seller by Buyer for all Products or Finished Devices purchased by Buyer in the preceding one (1) year period ending on the date that such Product or Finished Device was recalled, withdrawn or corrected. 

 

	 	d.	Exceptions. To the extent that a recall, market withdrawal or correction is attributable to the acts or omissions of an entity that supplied Seller one or more BFMs, such recall, market withdrawal, or correction shall
not be deemed Seller’s failure to conform to the Specifications or an act or omission of Seller, unless such recall, market withdrawal, or correction is predominately attributable to Seller’s gross negligence or willful misconduct or
Seller’s Material Breach of the “Quality Requirements” set forth inthe Quality Agreement . 

  

	12.	LIMITED WARRANTY 

  

	 	a.	Limited Product Warranty: Upon delivery and for a period of twenty four (24) months from the time of delivery, Seller warrants that the Products shall be manufactured in accordance with the Specifications and be
free from defects in materials and workmanship. In the event that a Product fails to comply with this limited product warranty, Seller shall either: repair, replace, or refund the Purchase Price (including transportation cost) of the non-conforming
Product returned to Seller. 

	 	b.	Limited Finished Device Warranty: If applicable, for a period of r (24) months from the time of delivery, Seller warrants that the Finished Devices shall be assembled in accordance with the Specifications and be
free from defects in materials and workmanship. In the event that a Finished Device fails to comply with this limited finished device warranty, Seller shall either: repair, replace, or refund the Purchase Price (including transportation cost) of the
non-conforming Finished Device returned to Seller. Notwithstanding anything to the contrary, the foregoing limited finished device warranty and remedy shall not apply to any defects and/or nonconformities associated in any BFMs; except to the extent
that Seller failed to discover such defects and/or nonconformities and was in material violation of the the Quality Agreement. 

  

	 	c.	THE FOREGOING LIMITED WARRANTIES AND ASSOCIATED REMEDIES ARE THE SOLE AND EXCLUSIVE WARRANTIES PROVIDED HEREUNDER. SELLER MAKES NO OTHER GUARANTEES OR WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO
WARRANTIES ON DESIGN, PERFORMANCE, NON-INFRINGEMENT, AND/OR ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 

  

	13.	INFRINGEMENT 

  

	 	a.	In the event Buyer is enjoined for using or reselling Product or Finished Devices delivered under this Agreement due to claims that Seller’s methods or processes infringe the intellectual property rights of a third
party, Seller shall remedy such claims by either: (i) re-manufacturing the Product or Finished Device such that it no longer infringes, (ii) procuring a license enabling Buyer to continue to use and resell the Product or Finished Device,
or (iii) if neither of the foregoing is economically feasible, refunding the Price of the infringing Product or Finished Device returned to Seller. 

  

	 	b.	THE FOREGOING REMEDY IS THE SOLE AND EXCLUSIVE REMEDY IN THE EVENT SELLER’S METHODS OR PROCESSES INFRINGE A THIRD PARTY’S INTELLECTUAL PROPERTY. SELLER HAS NO RESPONSIBILITY OR OBLIGATION OF ANY KIND TO REMEDY
CLAIMS THAT THE PRODUCT’S OR FINISHED DEVICE’S DESIGN OR SPECIFICATIONS INFRINGE A THIRD PARTY’S INTELLECTUAL PROPERTY. 

  

	14.	SELLER’S INDEMNIFICATION OF BUYER 

 Seller agrees to defend, indemnify and hold
harmless, at its own cost, Buyer and its Affiliates and their respective employees, directors, officers, agents and permitted assigns (“Buyer Indemnitees”) against Losses that result from third party personal injury Claims, whether actual
or threatened, arising from: Seller’s (i) Failure of Seller or its employees, agents or subcontrators to perform the Manufacturing Activities in accordance with this Agreement or any Statement of Work (ii) failure to manufacture
Product in conformance with Specifications; (iii) Seller’s failure to assemble the Finished Device in conformance with the Specifications and/or (iv) Seller’s gross negligence or willful misconduct. 

	15.	BUYER’S INDEMNIFICATION OF SELLER 

 Subject to: (i) Seller’s warranty
obligations in Section 12; (ii) Seller’s infringement obligations in Section 13; and (iii) Seller’s indemnification obligations in Section 14; Buyer will defend, indemnify and hold harmless, at its own cost, Seller
and its Affiliates and their respective employees, directors, officers, agents and permitted assigns from and against any and all other Losses incurred in connection with any third party Claim, whether actual or threatened, regardless of cause
including but not limited to: (i) defects in the design; claims that Product or Finished Device infringes a third party’s intellectual property; (ii) omissions by Buyer in inspecting, marketing, or distributing Buyer’s final
products; and/or (iii) Buyer’s negligence or willful misconduct. 
  

	16.	LIMITATION OF LIABILITY 

 EXCEPT WITH RESPECT TO THIRD PARTY CLAIMS REQUIRED TO BE
INDEMNIFIED PURSUANT TO EITHER SECTION 14 OR 15, NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES OF ANY KIND REGARDLESS OF HAVING BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 

NOTWITHSTANDING ANY TERM OR CONDITION IN THIS AGREEMENT TO THE CONTRARY, SAVE FOR DAMAGES ARISING OUT OF A SELLER’S GROSS NEGLIGENCE,
WILLFUL MISCONDUCT OR ITS INDEMNIFICATION OBLIGATIONS SET FORTH HEREIN, SELLER’S MAXIMUM LIABILITY HEREUNDER SHALL BE LIMITED TO THE LESSER OF: (A) THE DOLLAR VALUE OF THE PRODUCTS OR FINISHED DEVICES ACTUALLY DELIVERED IN THE PRECEEDING
TWELVE MONTHS; OR (B) TWO MILLION ($2,000,000.00) DOLLARS. 
  

	17.	INSURANCE 

 During the Term of this Agreement and at all times that Seller performs
Manufacturing Activities hereunder, Seller shall maintain in full force and effect, at its own expense, insurance coverage in the forms and amounts set forth below: 
  

	 	a.	Worker’s Compensation and Employers Liability Insurance. Worker’s compensation insurance as required by law or regulation. Additional employer’s liability insurance in amounts not less than $1,000,000 per
accident for bodily injury and $1,000,000 per incident by disease. 

  

	 	b.	Commercial General Liability. Commercial General Liability insurance with minimum combined single limits for bodily injury and property damage of $5,000,000 per occurrence and $10,000,000 aggregate. The Commercial
General Liability coverage shall also include products and completed operations liability with an aggregate limit of $10,000,000. 

 For the avoidance of doubt, the limits provided in Section 17 (a) and (b) above
may be ascertained by Seller’s umbrella and/or excess insurance coverage policies. 
  

	18.	DISPUTE RESOLUTION 

 The Parties recognize that disputes, controversies, causes of
action, or claims relating to the provisions or performance of this Agreement may arise from time to time during the Term of this Agreement or thereafter (hereinafter “Dispute(s)”. Within sixty (60) days of learning or becoming aware
of a Dispute or potential Dispute, the Party shall provide the other Party’s authorized representatives with written notice of the Disputes. The Parties shall then attempt to resolve any such Disputes through good faith negotiations. If
mutually agreeable resolutions are not negotiated within ninety (90) days, the Parties agree that any remaining Disputes may, upon mutual agreement of the Parties, be settled by binding arbitration in accordance with the Commercial Arbitration
Rules of the American Arbitration Association (“AAA”) and its Supplementary Procedures for International Commercial Arbitration, then in effect, as modified or supplemented by this Section 18. If binding arbitration is agreed upon by
the Parties, the following shall apply: 
  

	 	a.	Venue. The arbitration venue will be in the State of New York, United States of America, unless otherwise agreed upon by the Parties. The arbitration shall be conducted in the English language. The arbitration will be
conducted before a panel of three (3) arbitrators. Each arbitrator will be an individual with substantial commercial transactional experience of at least fifteen (15) years in a corporate or judicial legal setting. The arbitration panel
will be selected as follows: the Parties will request a list of ten (10) arbitrators drawn from the AAA’s panel of commercial arbitrators. From this list, both Parties will each choose one arbitrator. After they have been notified of their
panel selection, the two (2) arbitrators will agree on a third arbitrator from the list of ten (10), who will be the chair of the panel, and the panel will be final. 

 

	 	b.	Decision. The decision of the majority of the arbitrators will be the panel’s decision. The arbitrators will not have the authority to add, change, or disregard any term of this Agreement. The arbitrators shall
have the authority to enforce any terms agreed upon by the Parties or otherwise required to be adhered to pursuant to this section of the Agreement. The arbitrators’ decision will be in writing and binding on the Parties, and judgment on the
arbitration award may be entered by a court of competent jurisdiction. 

  

	 	c.	Injunctive Relief. Nothing within this provision shall prevent the Parties from seeking a court order for injunctive relief, if necessary, so as to stop or prevent the misuse or misappropriation of its Confidential
Information, including but not limited to its Intellectual Property and trade secrets. 

	19.	MISCELLANEOUS 

  

	 	a.	Notice. Any notice or other communication in connection with this Agreement shall be in writing, in person, by Federal Express or similar courier service, by fax to a Party’s current fax number or, if within the
United States, by certified U.S. Mail. Such notices shall be deemed to be given (i) if in person, or by national courier service, when received by a Party, (ii) if by certified U.S. Mail, return receipt requested, four (4) days after
posting properly addressed and postage prepaid, or (iii) upon fax transmission, provided that the sender retains electronically dated documentary proof of successful transmission (if the fax transmission is not made on a regular business day or
is made after 5 p.m. it shall be effective on the next business day). Any notice shall be addressed as follows: 

  

	 	If to Buyer:	Dance Biopharm Inc. 

	 	    	Attn: Greg Zante, CFO 

	 	    	2 Mint Plaza #804 

	 	    	San Francisco, CA 94103 

	 	    	Email: gzante@dancepharma.com 

  

	 	If to Seller:	Phillips Plastics Corporation 

	 	    	Attn: Contracts Coordinator 

	 	    	1201 Hanley Road 

	 	    	Hudson, WI 54016 

	 	    	Email: ContractCoordinator@phillipsmedisize.com 

  

	 	b.	No Legal Impediment. Each Party represents to the other that it has the necessary corporate authorization to enter into and perform this Agreement and that it is under no legal impediment that would prevent their
signing this Agreement or performing the same. Performance of Manufacturing Activities. Seller shall perform the Manufacturing Activities in accordance with all applicable laws. 

 

	 	c.	cGMP. The manufacture of Product and/or Finished Devices shall be performed in accordance with cGMP and will meet the Specifications at the date of delivery. 

 

	 	d.	No Debarment. Seller represents and warrants to Buyer that that neither it nor any of its employees is: (a) debarred pursuant to the Generic Drug Enforcement Act of 1992 (21 U.S.C. § 335a), as amended
from time to time; (b) disqualified as a testing facility under 21 C.F.R. Part 58, Subpart K, as amended from time to time; (c) excluded, debarred or suspended from or otherwise ineligible to participate in a “Federal Health
Care Program” as defined in 42 U.S.C. 1320a-7b(f), as amended from time to time, or any other governmental payment, procurement or non-procurement program; or (d) included on the HHS/OIG List of Excluded Individuals/Entities, the
General Services Administration’s List of Parties Excluded from Federal Programs, or the FDA Debarment List. Seller shall notify Buyer immediately if any of the foregoing is not true for any reason at any time. Seller represents and warrants
that it shall not hire or retain as an officer or employee any Person who has been convicted of a misdemeanor or felony under the laws of the United States relating to the regulation of any drug product by the United States Food, Drug, and Cosmetic
Act or relating to the regulation of any federal healthcare program by the U.S. Department of Health and Human Services. If at any time a representation and warranty in this Section 11.1.5 is no longer accurate, Seller shall immediately notify
Buyer of such fact. 

	 	e.	Regulatory Filings. Seller will supply documentation as requested by Buyer to support a regulatory filing for the Product and/or Finished Device or any changes to any filings. 

 

	 	f.	Public Announcement. Except as may be required by applicable law, neither Party shall issue any press release or external announcement without the other’s prior written consent which consent shall not be
unreasonably withheld. 

  

	 	g.	Non-Solicit. During the term of this Agreement and for a period of one (1) year thereafter, neither Party shall, on its own account or that of a third party, solicit, or recruit, either directly or indirectly, any
employee of the other for employment or any other services. 

  

	 	h.	Severability. In case any provision (or portion thereof) of this Agreement shall for any reason be held to be invalid, illegal or unenforceable in any respect, except in those instances where removal or elimination of
such invalid, illegal or unenforceable provision would result in a failure of consideration hereunder, such invalidity, illegality or unenforceability shall not affect the remaining provisions and the remaining provisions shall be construed as if
such invalid, illegal or unenforceable provision had never been contained herein. The captions and headings used in this Agreement are for reference only and shall not be construed in any way as terms or used to interpret the provisions of this
Agreement. 

  

	 	i.	Domestic shipments shall be delivered F.O.B. Seller’s facility, loaded on the truck of the carrier designated by Buyer. International shipments shall be delivered Ex Works (Incoterms 2010) Seller’s facility,
loaded on the carrier designated by Buyer. Title and risk of loss shall pass to Buyer upon deliver by Seller to the carrier designated by Buyer. 

  

	 	j.	Assignment. This Agreement shall not be assigned in whole or in part by either Party without the written consent of the other which consent shall not be unreasonably withheld. Notwithstanding the foregoing, a Party may
assign this Agreement to a purchaser of all or substantially all of that Party’s business to which this Agreement pertains without the prior consent of the other Party. 

 

	 	k.	Entire Agreement. This Agreement, and the Exhibits hereto constitute and contain the entire understanding and agreement between the Parties with respect to the subject matter hereof. 

 

	 	l.	Governing Law. This Agreement shall be construed in accordance with the laws of New York, without regard to its choice of law rules. The jurisdiction and venue shall be the state and federal courts located in the State
of New York. 

	 	m.	Amendment. This Agreement may be modified only by a written document signed by an authorized representative of each Party and which refers to this Agreement. 

 

	 	n.	Other Products. Each Party may be currently or in the future be developing information internally or receiving information in confidence from other parties that may be similar or competitive to the information received
from the other Party herein. Accordingly, nothing in this Agreement shall be construed as a representation or inference that subject to each party’s confidentiality obligations, either Party will not develop information, products or processes,
for itself or others, that either relate to or compete with the products or processes contemplated by the other Party hereto. 

  

	 	o.	Interpretation. Each Party acknowledges that it participated in the negotiation and preparation of this Agreement and that it had the opportunity to consult with an attorney of its choice in connection therewith.
Ambiguities, if any, in this Agreement shall not be construed against either Party, irrespective of which Party may be deemed to have drafted the Agreement or authorized the ambiguous provision. 

 

	 	p.	Waiver. No waiver of the provisions or requirements of this Agreement shall be deemed, or shall constitute, a waiver of any subsequent breach, whether or not similar, nor shall any waiver constitute a continuing waiver.

  

	 	q.	Counterparts. A PDF or other reproduction of this Agreement may be executed by the Parties and shall be considered valid, binding and effective for all purposes. This Agreement may be signed in counterparts, each of
which shall constitute an original, but all of which together shall constitute one and the same Agreement. 

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

							
	Dance Biopharm Inc.	  	Phillips Plastics Corporation
				
	By:	  	/s/ Samantha Miller	  	By:	  	/s/ Gary Willenbrecht
				
	Title:	  	Chief Business Officer	  	Title:	  	CFO
				
	Date:	  	10 Nov 2013	  	Date:	  	11/25/2013

  

 Exhibit A 

Statement of Work Template 

Exhibit A-# Statement of Work No. 00# 

Project Name and Scope of Statement of Work. 

This Statement of Work is entered into and subject to the terms and conditions of the Manufacturing Agreement by and between Dance Biopharm
Inc. (“Buyer”) and Phillips Plastics Corporation (“Seller”) as of             , 2013 (the “Agreement”). Together, this Statement of Work and the Agreement and
all applicable exhibits and amendments thereto constitute the terms and conditions under which Seller will perform the work set forth below. 
  

	I.	Description of Manufacturing Activities: 

  

	II.	Materials and Instruction to be Provided by Buyer: 

  

	III.	Period of Performance: 

 Start Date: 

Anticipated Completion Date: 
  

	IV.	Deliverables: 

  

	V.	Designated Buyer Representative: 

 Name: 

Phone: 
 Email: 

 

	VI.	Designated Seller Representative: 

 Name: 

Phone: 
 Email: 

 

	VII.	Price, Costs and Payment: 

 (as applicable) 

 

	VIII.	Miscellaneous: 

  

	IX.	Attachments: 

 (if any) 

 Exhibit B 

Nondisclosure Agreement 

TRIPARTITE CONFIDENTIAL DISCLOSURE AGREEMENT 

THIS AGREEMENT, made effective as of 1st day of April, 2013 (the “Effective Date”) by and between 

 

	(1)	Aerogen Limited, a private company registered in Ireland with its principal place of business at IDA Business Park, Dangan, Galway, Ireland (“Aerogen”), 

 

	(2)	Dance Biopharm Inc., a Delaware corporation with its principal place of business at 2 Mint Plaza, Suite 804, San Francisco, CA 94103, USA (“Dance”), and 

 

	(3)	Phillips Plastics Corporation, with its principal place of business at 1201 Hanley Road, Hudson, WI 54016 USA (“Phillips”); 

is to ensure the protection and preservation of the confidential and/or proprietary nature of information to be disclosed or made available to each party in
connection with discussions and negotiation of a potential business relationship between the parties hereto, encompassing the supply of proprietary components by Aerogen to Phillips to enable the manufacture, assembly and supply of Dance’s
inhaled insulin delivery device by Phillips for Dance (the “Purpose”). Aerogen, Dance and Phillips may be referred to herein individually as a “Party” and jointly or collectively as the “Parties”. 

WHEREAS, the Parties desire to ensure the confidential status of the information which may be disclosed to each other and agree it is in their mutual
best interest to do so; 
 NOW THEREFORE, in reliance upon and in consideration of the following undertakings, the Parties agree as follows: 

 

	1	 Subject to the limitations set forth in Paragraph 2, “Confidential Information” shall include all information furnished by or on behalf of
one Party, its Affiliates, or any of its or their respective officers, directors, employees, agents, accountants, attorneys, consultants or other professional advisors (collectively “Representatives”) to each of the other Parties, their
Affiliates, or any of their respective Representatives, whether furnished on or after the Effective Date and furnished in any form. Confidential Information includes but is not limited to information in written, verbal, visual, electronic or any
other media, and information acquired by observation or otherwise during any site visit at the other Party’s facility. In 

	 	
particular, Confidential Information may include without limitation all proprietary technologies, know-how, trade secrets and any other intellectual property (whether or not patented), financial
information, any process, technique, algorithm, program, design, drawing, formula or data relating to any research project, information relating to work in process, future developments, business developments, strategies, analyses or plans (including
clinical, marketing and business plans), information relating to engineering, manufacturing, marketing or servicing matters, personnel matters relating to the disclosing Party, and information relating to products, product development plans, sales,
suppliers, customers, investors or employees of the disclosing Party. Confidential Information also includes the existence of this Agreement and its terms and the fact that each Party is evaluating the other Parties’ Confidential Information,
and may include information regarding intellectual properties and third party confidential or proprietary information. 

  

	2	The term “Confidential Information” shall not be deemed to include that portion of information which: (a) is now, or hereafter becomes, through no act or failure to act on the part of a receiving Party,
generally known or available; (b) is known by a receiving Party at the time of receiving such information from the disclosing Party as evidenced by the receiving Party’s records prepared or kept prior to the disclosure and in this instance
the receiving Party shall be obliged to inform the other Parties of their prior knowledge within ten days of receipt of the information; (c) is hereafter furnished to a receiving Party by a third party, as a matter of right and without
restriction on disclosure; (d) is independently developed by a receiving Party without any breach of this Agreement as evidenced by the receiving Party’s records; or (e) is the subject of a written permission to disclose provided by
the disclosing Party. 

 Any combination of features or disclosures shall not be deemed to fall within the foregoing exclusions
merely because individual features are published or available to the general public or in the rightful possession of a receiving Party unless the combination itself and principle of operation are published or available to the general public or are
in the rightful possession of the receiving Party. 
  

	3	 Each Party shall maintain in confidence and not distribute, disseminate, transfer, disclose or otherwise make available to any third party, (excluding
the other Party to this Agreement and any Affiliate or Representative of a receiving Party that is bound by the confidentiality terms substantially similar to those of this Agreement), or use for any unauthorized purpose, any Confidential
Information received from another Party, without the prior written consent of that disclosing Party. For the purposes hereof, an “Affiliate” of a Party is an entity that controls, is controlled by or shares common control with such Party.
Each Party may use such Confidential Information and disclose Confidential information to the other Party 

 
only to the limited extent required to accomplish the Purpose. Confidential Information shall not be used for any purpose or in any manner that would constitute a violation of any laws or
regulations, including without limitation the export control laws of the United States. No rights or licenses, including without limitation to trademarks, inventions, copyrights, patents or any other intellectual properties, are implied or granted
to a Party, whether by implication, estoppel or otherwise, under this Agreement. A Party may not use Confidential Information received from another Party to this Agreement in applying for patents or securing other intellectual property rights.
Further, if any Party provides materials or samples as part of its Confidential Information, the other Parties may not use, copy, distribute, reverse engineer, sell, lease, license or otherwise transfer, modify, adapt or create derivatives of such
Confidential Information. 
  

	4	Confidential Information supplied shall not be reproduced in any form except as required to accomplish the Purpose. 

  

	5	The Parties shall use their reasonable good faith efforts to protect the Confidential Information received with at least the same degree of care used to protect their own Confidential Information (but in no event less
than a reasonable degree of care) from unauthorized use or disclosure. Each Party shall advise its Representatives who might have access to such Confidential Information of the confidential nature thereof, and such Representatives are or will be
bound by obligations of confidentiality and non-use no less restrictive than those set forth in this Agreement. No Confidential Information shall be disclosed to any Representative of any Party who does not have a need for such information for the
Purpose hereof. 

  

	6	All Confidential Information, including all copies and derivations thereof, shall be and remain the sole and exclusive property of the disclosing Party and subject to the restrictions provided for herein, and shall be,
at the option of the disclosing Party, either destroyed or returned to the disclosing Party after the receiving Parties’ need for it has expired, or upon request of the disclosing Party, and in any event, upon completion or termination of this
Agreement, provided that the receiving Parties may retain one (1) copy of the disclosing Party’s Confidential Information in their legal files in order to monitor their continuing obligations hereunder. 

 

	7	Notwithstanding any other provision of the Agreement, disclosure of Confidential Information shall not be precluded if such disclosure is required by law, court, or a governmental agency. With respect to required
disclosure of Confidential Information under this Section 7 the Party disclosing such Confidential Information will give the Party who owns or controls such Confidential Information prompt written notice of such requirement to provide the owner
Party an opportunity to contest or oppose such requirement. 

	8	This Agreement shall continue in full force and effect for a period of three (3) years from the Effective Date but may be terminated at any time upon thirty (30) days written notice by any Party to the other
Parties. The termination or expiration of this Agreement shall not relieve any Party of the obligations imposed by Paragraphs 3, 4, 5, 6, 7, 8, 9, 11 and 14 of this Agreement with respect to Confidential Information disclosed prior to the effective
date of such termination or expiration. The provisions of these Paragraphs shall survive the termination or expiration of this Agreement for a period of five (5) years; provided, the obligations of confidentiality and non-use surrounding any
trade secrets, patents or copyrights shall endure in accordance with applicable law. 

  

	9	This Agreement shall be governed by the laws of England and Wales, without regard to its or any other jurisdiction’s conflict of laws rules. Unless the Parties agree otherwise in writing subsequent to the Effective
Date, all disputes, controversies or disagreements which may arise between the Parties, in relation to or in connection with this Agreement, shall be finally settled by the competent courts of England. 

 

	10	This Agreement contains the final, complete and exclusive agreement of the Parties relative to the Purpose hereof and supersedes all prior agreements and negotiations thereon, written and oral, and may not be changed,
modified, amended or supplemented except by a written instrument signed by all three Parties. 

  

	11	Each Party hereby acknowledges and agrees that in the event of any breach of this Agreement by another Party, including, without limitation, the actual or threatened disclosure of a disclosing Party’s Confidential
Information without the prior express written consent of the disclosing Party, the disclosing Party may suffer an irreparable injury, such that no remedy at law will afford it adequate protection against, or appropriate compensation for, such
injury. Accordingly, each Party hereby agrees that the other Parties shall be entitled to seek specific performance of a receiving Party’s obligations under this Agreement, as well as such further injunctive relief as may be granted by a court
of competent jurisdiction, without necessity of posting a bond. 

  

	12	Each Party represents and warrants that they are under no obligation to any third party that would interfere with its ability to disclose or receive the details of its Confidential Information to the other Party, and
that each Party has the right to disclose any Confidential Information disclosed hereunder. EACH PARTY EXPRESSLY DISCLAIMS ANY AND ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO ITS CONFIDENTIAL INFORMATION. ACCORDINGLY, THE CONFIDENTIAL
INFORMATION IS PROVIDED “AS IS” AND WITHOUT ANY OTHER WARRANTY WHATSOEVER INCLUDING WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY, TITLE, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. 

	13	The waiver by a Party of a default or a breach of any provision of this Agreement by another Party shall not operate or be construed to operate as a waiver of any subsequent default or breach. The continued performance
by a Party with knowledge of the existence of a default or breach shall not operate or be construed to operate as a waiver of any default or breach. 

  

	14	This Agreement may not be assigned or otherwise transferred, nor may any right or obligation hereunder be assigned or transferred by a Party, without the written consent of the other Parties, except that a Party may
assign this Agreement or any of its rights or obligations hereunder to (a) an Affiliate, or (b) a third Party that becomes its successor in interest by way of a merger, acquisition or sale of all or substantially all of its assets or
business. This Agreement shall inure to the benefit of and be binding upon the Parties and their successors and permitted assigns. 

  

	15	This Agreement may be executed in separate counterparts, by facsimile or in Portable Document Format transmitted between Parties by electronic mail, each of which when so executed and delivered shall be an original and
all such counterparts shall together constitute one and the same instrument. 

 IN WITNESS WHEREOF, the Parties hereto have executed
this Tripartite Confidential Disclosure Agreement as of the Effective Date. 
  

									
	 AEROGEN LIMITED
	 		  	DANCE BIOPHARM INC.	  		  	 PHILLIPS PLASTICS

CORPORATION

					
	/s/ Colin Telfer	 		  	/s/ Samantha Miller	  		  	/s/ Gary Willendrecho
	(Signature)	 		  	(Signature)	  		  	(Signature)
					
	Colin Telfer	 		  	Samantha Miller	  		  	Gary Willendrecho
	(Print Name)	 		  	(Print Name)	  		  	(Print Name)
					
	 	 		  	CBO	  		  	CFO
	(Title)	 		  		  		  	
					
	2nd April 2013	 		  	3-23-13	  		  	3/25/2013
	(Date)	 		  	(Date)	  		  	(Date)

 Exhibit C-1 

Proposal(s) 
 [*] [Note: Approximately
nine (9) pages of this Exhibit C-1 for which confidential treatment has been requested have been omitted and filed separately with the Securities and Exchange Commission.] 

 Exhibit C-2 

Proposal(s) 
 [*] [Note: Approximately
seven (7) pages of this Exhibit C-2 for which confidential treatment has been requested have been omitted and filed separately with the Securities and Exchange Commission.]EX-10.16

 Exhibit 10.16 

[*Confidential Treatment has been requested as to certain portions of this document. Each such portion, which has been omitted herein and replaced with an
asterisk [*], has been filed separately with the Securities and Exchange Commission.] 
 MASTER AGREEMENT FOR JOINT VENTURE IN ASIA

 This Master Agreement for a Joint Venture in Asia (“Agreement”) is made and entered into as of February 20,
2013, by and between Dance Biopharm Inc., a Delaware corporation, having its principal offices at 2 Mint Plaza #804, San Francisco, California 94103 (“Dance”) and Harmony Plus Holdings Limited, a Hong Kong corporation, having its
principal offices at Room 1902, Cheung Kong Center, 2 Queen’s Road Central, Hong Kong (“Harmony”). Dance and Harmony are together referred to herein as the “Parties” and each is variously referred to as a
“Party”. 
 RECITALS 

WHEREAS, Dance is a biotechnology company that operates primarily in North America and Europe, and seeks to expand into the
People’s Republic of China, Taiwan, Hong Kong, Macau, India, Indonesia, South Korea, The Philippines, Singapore, Thailand, Bangladesh, Brunei, Cambodia, Laos, Malaysia, Mongolia, Myanmar (Burma), Nepal, Sri Lanka, Vietnam, Pakistan, Australia
and New Zealand (the “Territory”); 
 WHEREAS, Harmony has resources, know-how, experience and expertise with regard
to the business development, clinical and regulatory processes in the Territory, as well as commercial relationships in the Territory; and 

WHEREAS, the Parties desire to create a joint vehicle (“Asia JV”) for the purpose of developing, obtaining market
registration for, and commercializing the Products (as defined below) in the Territory (the “Joint Venture”). 
 NOW,
THEREFORE, in consideration of the premises and mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 

ARTICLE 1 
 DEFINITIONS

 The following capitalized terms shall have the corresponding meanings as used in this Agreement: 

CONFIDENTIAL 

 (A) “Affiliate” means a person, corporation, partnership, or other entity that
controls, is controlled by or is under common control with a Party. For the purposes of this Section (A) , the word “control” (including, with correlative meaning, the terms “controlled by” or “under the common
control with”) means the actual power, either directly or indirectly through one or more intermediaries, to direct the management and policies of such entity, whether by the ownership of at least fifty percent (50%) of the voting stock of
such entity, or by contract or otherwise, and in the case of a non-corporate business entity, if it possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of the corporation or non-corporate
business entity, as applicable, whether through the ownership or control of voting securities, by contract or otherwise. Notwithstanding the foregoing, for the purposes of the Additional Agreements, Asia JV shall not be considered to be an Affiliate
of any Party. 
 (B) “Charter” means the Memorandum and Articles of Association of Asia JV, or the equivalent organizational
documents if Asia JV is not established as a British Virgin Islands company limited by shares. 
 (C) “Confidential
Information” means all confidential and/or proprietary information of a Person, including but not limited to information derived from reports, investigations, research, work in progress, programs, product concepts, marketing and sales
programs, financial projections, cost summaries, pricing formula, contract analyses, financial information, projections, confidential filings with any state or federal agency, and all other confidential concepts, methods of doing business, ideas,
materials or information prepared or performed for, by or on behalf of such Person by its employees, officers, directors, agents, representatives, or consultants; provided, however, Confidential Information shall not include any
information (i) known to the receiving Party prior to disclosure hereunder and not subject to an obligation of confidentiality in favor of the other Party; (ii) generally available to the public or part of the public domain at the time of
its disclosure hereunder; (iii) generally available to the public or part of the public domain after disclosure hereunder, other than through any act or omission in breach of a Additional Agreement; (iv) independently discovered or
developed by a Party without reference to or use of Confidential Information, as demonstrated by documented evidence; or (v) disclosed by a Third Party and not subject to a known (after good faith inquiry) obligation of confidentiality in favor
of a Party hereunder. 
 (D) “Consent” means any approval, consent, ratification, permission, waiver or authorization
(including any Governmental Approval). 
 (E) “Cost of Goods (COGs)” means amounts Dance pays to contract manufacturing
organizations (CMOs) for manufacturing Product components. 
 (F) “Dance License” means a license agreement, substantially
in the form attached hereto as Exhibit A, to be entered into by and between Dance and Asia JV. 

 (G) “Entity” means any corporation (including any non-profit corporation),
general partnership, limited partnership, limited liability partnership, joint venture or joint development vehicle, estate, trust or company (including any limited liability company or joint stock company). 

(H) “Governmental Approval” means, with respect to any Person, a Consent of a Governmental Authority required or necessary for
such Person to operate its business in the ordinary course consistent with past practice. 
 (I) “Governmental Authority”
means any: (a) nation, principality, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government; (c) governmental or
quasi-governmental authority of any nature (including any governmental division, subdivision, department, agency, bureau, branch, office, commission, council, board, instrumentality, unit, or body and any court or other legal tribunal); (d) any
governmental multinational organization or body; or (e) individual, Entity or body exercising, or entitled to exercise, any executive, legislative, judicial, administrative, regulatory, police, military, taxing or arbitral authority or power of
any nature. 
 (J) “Knowledge” of a Party means the knowledge after reasonable inquiry of the following individuals
(a) with respect to Dance: Samantha Miller and John Patton and (b) with respect to Harmony: Augustine Chow. 
 (K) “Legal
Requirement” means any federal, state, local, municipal, foreign or other law, statute, legislation, constitution, principle of common law, resolution, ordinance, code, Order, edict, decree, proclamation, treaty, convention, rule,
regulation, permit, ruling, directive, pronouncement, requirement (licensing or otherwise), specification, determination or decision that has been issued, enacted, adopted, passed, approved, promulgated, made, implemented or otherwise put into
effect by or under the authority of any Governmental Authority. 
 (L) “Material Breach” means a Party violates or fails to
perform of its material undertakings, agreements, covenants or obligations under this Agreement, and fails to cure the breach after due process as outlined in Section 6.1(a). 

(M) “Order” means any: (a) temporary, preliminary or permanent order, judgment, injunction, edict, decree, ruling,
pronouncement, determination, decision, opinion, verdict, sentence, stipulation, subpoena, writ or award that is or has been issued, made, entered, rendered or otherwise put into effect by or under the authority of any court, administrative agency
or other Governmental Authority; or (b) contract with any Governmental Authority that is or has been entered into in connection with any Proceeding. 

 (N) “Person” means any individual, corporation, partnership, trust, limited
liability company, association or other entity including Governmental Authority. 
 (O) “Proceeding” means any action, suit,
complaint, litigation, arbitration, proceeding (including any civil, criminal, administrative, investigative or appellate proceeding), prosecution, contest, hearing, inquiry, inquest, audit, examination or investigation that is or has been
commenced, brought, conducted or heard at law or in equity or before any Governmental Authority or any arbitrator or arbitration panel. 

(P) “Products” means inhaled insulin drug-device combination products, including both pulmonary and nasal inhaled insulin
products. 
 (Q) “Representatives” mean officers, directors, attorneys, advisors and agents of a Party, except that Asia JV
shall not be a Representative of any other Party. 
 (R) “Subsidiary” means any corporation, association, partnership,
limited liability company, joint venture or joint development vehicle or other business entity of which more than 50% of the voting stock or other equity interest is owned directly or indirectly by any Person or one or more of the other Subsidiaries
of such Person or a combination thereof. Notwithstanding the foregoing, for the purposes of the Additional Agreements, Asia JV shall not be a Subsidiary of either Harmony or Dance. 

(S) “Third Party” means any Entity or Person other than Dance, Harmony, Asia JV or their respective Affiliates. 

ARTICLE 2 
 THE JOINT
VENTURE 
 2.1 Formation of Asia JV. 

(a) As soon as practicable after the date hereof, in consultation with Dance, Harmony shall cause Asia JV to be formed as a British Virgin
Islands Company limited by shares. Harmony shall not finalize the Charter or any related organizational document of Asia JV, or make any filing with a Governmental Authority related to the Asia JV, without the consent of Dance, which shall not be
unreasonably withheld or delayed. [*] of the external fees and expenses associated with forming Asia JV, including reasonable legal expenses related thereto, shall be borne by Harmony and [*] shall be borne by Dance. 

(b) The Parties agree that the Asia JV shall be formed on the basis of the terms described in this Section 2.1(b). Upon formation
of Asia JV and finalization of its Charter and other related documentation, the terms of the organizational documents shall supersede the following terms in their entirety. 

 (i) Capitalization. There shall be three (3) classes of shares of capital stock
(with an equal number of shares outstanding in each class) owned in the following proportions, which shall be issued to Dance and Harmony in exchange for the capital contributions described in this Agreement: (A) Class A shares: Harmony
70% / Dance 30%; (B) Class B shares: Harmony 50% / Dance 50%; and (C) Class C shares: Harmony 60% / Dance 40%. Under no circumstances shall Dance’s ownership of any class of share of Asia JV fall below 20% (and the organizational
documents and shareholders agreement of Asia JV shall have appropriate anti-dilution protections designed to preserve this ownership position) prior to an initial public offering (IPO) (on a market exchange agreed to by the Parties). Neither Dance
nor Harmony shall be required to make any additional capital contributions/purchases of capital stock beyond what is described in this Agreement. Any additional capital contributions or sales of equity interests in Asia JV to new shareholders shall
require the approval of the board of directors of the Asia JV (as defined below). 
 (ii) Governance. Asia JV shall be managed by a
board of directors (the “Board”) comprised of four (4) directors. Each of Dance and Harmony shall be entitled to designate two (2) Board members (each a “Designee”). Designees may be removed at any time
for any reason or no reason by the shareholder that designated such Board member. The Board shall act through duly constituted meetings at which a quorum is present or by unanimous written consent. A quorum shall exist when all Board members are
present at a meeting. Board decisions shall generally require the consent of one Dance Designee and one Harmony Designee at a meeting at which a quorum is present in person or through teleconference, although unanimous consent shall be required for
Extraordinary Decisions (as defined below). The Board shall hold at least three (3) meetings per year, unless otherwise agreed by the Board. The Board may act by unanimous written consent without a meeting. The Board may appoint officers as it
deems appropriate. 
 (iii) Extraordinary Decisions Requiring Unanimous Board Approval. Unanimous Board approval shall be required
for the approval of any of the following (each of which is referred to as an “Extraordinary Decision”): 
 (A) Any change
to Asia JV’s organizational documents. 
 (B) The creation, issuance, allotment, redemption, repurchase or grant of any share of
capital stock, equity interest or security or instrument convertible into an equity interest in Asia JV. 
 (C) The reorganization of the
capital of Asia JV, including by consolidation, sub-division or conversion. 

 (D) Any sale, merger, reconstruction, reorganization, winding-up, liquidation or other similar
transaction. 
 (E) The taking of any action related to the insolvency or bankruptcy of Asia JV or to the liquidation, dissolution or
winding up of the affairs of Asia JV. 
 (F) The incurrence of any indebtedness, including by the issuance of notes, bonds or other
instruments. 
 (G) The declaration of a dividend or other distribution in respect of any share of capital stock of Asia JV. 

(H) Any increase or decrease in the size of the Board. 

(I) Any license (in-bound or outbound) of any of Asia JV’s owned or licensed intellectual property. 

(J) Entering into any transaction with either Dance or Harmony or any person or entity related thereto. 

(K) The acquisition or disposition of any company or business (or material asset). 

(L) The determination of profits and losses available for allocation. 

(M) The amendment of any of the Additional Agreements. 

(N) Entering into any agreement providing for any transaction that would be an Extraordinary Decision. 

(iv) Dispute Resolution Mechanics. If the Board fails to approve an action, either Dance or Harmony may declare such unapproved action
a “Deadlock Matter”, in which case the Parties shall work together in good faith to resolve the Deadlock Matter. If the Parties are unable to reach a mutually satisfactory solution to a Deadlock Matter within 30 days, each Party
shall have the right to refer the Deadlock Matter to commercial arbitration, under Hong Kong law, for resolution, with the costs borne equally by Parties (rather than Asia JV). If 

 
the Deadlock Matter remains unresolved after arbitration, each Party shall have a buy-out right in respect of the other Party’s Asia JV shares. The buy-out right shall provide each Party the
right to offer to buy the other’s shares at a bid price. If a Party makes a bid, the offeree Party shall then have the right to either sell its shares at the bid price, or acquire the shares of the offering Party at the bid price. 

(v) Shareholder Matters. The Board shall be empowered to make all decisions in respect of the Asia JV to the maximum extent permitted
by applicable Legal Requirements. Matters required by applicable Legal Requirements to be approved by the shareholders shall require the vote of shareholders holding 75% of the outstanding shares (with each class voting together as a single class)
of Asia JV, except that any amendment to the organizational documents of Asia JV shall require unanimous shareholder approval. Shares of Asia JV shall not be transferrable without the approval of the Board. 

(vi) Allocation of Profits and Losses; Expenses. The operations of Asia JV shall be organized into three (3) divisions, according
to the regions included in the Territory: (A) Greater China (“Region A”); (B) Australia and New Zealand (“Region B”); and (C) the remaining countries in the Territory (“Region C”).
Profits and losses arising out of Region A shall be allocated to Class A shares; profits and losses arising out of Region B shall be allocated to Class B shares; and profits and losses arising out of Region C shall be allocated to Class C
shares. All Asia JV expenses shall be allocated [*] to Harmony and [*] to Dance. Internal salaries for Dance and Harmony personnel who may spend time managing the Asia JV shall not be considered Asia JV expenses. 

2.2 Additional Agreements. Following the execution of this Agreement, the Parties shall negotiate in good faith additional agreements in
connection with Asia JV, which documents and agreements shall contain the terms set forth herein and such other terms and conditions (customary for agreements of each type) agreed upon by the Parties (“Additional Agreements”): 

(a) the License Agreement incorporating the terms set forth in Exhibit A, by and between Dance and Asia JV, for Product related patents
and know-how owned or controlled by Dance, which shall be executed within 60 days from the date the Asia JV entity is formed; 
 (b) the
Charter; 
 (c) a shareholders agreement, in a form reasonably acceptable to the Parties, by and between Dance and Harmony, reflecting the
terms set forth in Section 2.1(b); and 

 (d) such other customary documents as the Parties may determine to be necessary in the future,
such as supply agreements, quality agreements and pharmacovigilance agreements. 
 2.3 Initial Deposit. Upon execution of this
Agreement, Harmony shall deposit USD$700,000 and Dance shall deposit USD$300,000 (the “Deposits”) in a segregated account established by the Parties for purpose of setting up the JV according to this Agreement. The Deposits shall be
used as the initial capital contributions for the shares of Asia JV described above. Paid up capital contributed by the Parties shall be no higher than USD[*]. 

2.4 Change of Control. In the case of a sale of all or substantially all of Dance’s assets, Dance’s shares in the Asia JV
shall be included in such sale, and Harmony shall have the option of selling Harmony’s shares of Asia JV in such sale. 
 ARTICLE 3

 PRODUCT DEVELOPMENT AND COMMERCIALIZATION 

3.1 Manufacturing. Asia JV may make or have made finished drug product and device in the Territory, except for the device mouthpiece
cartridge (MPC) containing the vibrating mesh component, which must be imported from Dance’s device partner, Aerogen in Galway Ireland. All Product commercial manufacturing in the Territory shall conform to international cGMP standards for
potential export and sale outside the Territory by Dance. Dance shall facilitate technology transfer from Dance manufacturers to Asia JV manufacturers as needed. Asia JV shall import some or all components of the Products from Dance under a supply
agreement, which will include a transfer price equal to Cost of Goods (COGs) plus a [*] mark-up (for Product components made outside the Territory). 

3.2 Development. Dance shall be responsible for the global development of the Product in the US and EU and other countries outside the
Territory. Asia JV shall be responsible for managing and funding clinical enrollment in the Territory for the global Phase III Program as well as any supplementary clinical studies that may be required for regulatory approval of the Product in each
country of the Territory. All clinical research in the Territory will be conducted according to global cGCP standards. All Product data and information (the Common Technical Document submitted to EMA and/or FDA) shall be shared by Dance with Asia
JV. Dance shall provide Asia JV with all support and information necessary to adequately respond to questions and requests from regulatory authorities in the Territory. 

3.3 Commercialization. Asia JV shall be responsible for the filing of any Regulatory Applications with the Regulatory Authorities in the
Territory. All Regulatory Approvals shall be owned by Asia JV. Asia JV shall be responsible for commercializing the Product in the Territory either directly or through third party partnerships. 

 ARTICLE 4 

REPRESENTATIONS AND WARRANTIES 

4.1 Representations and Warranties of Dance. Dance represents and warrants to Harmony as follows as of the date hereof: 

(a) Organization and Qualification. Dance is a corporation duly organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation, and has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted. 

(b) Authority. Dance has all necessary power and authority to execute and deliver this Agreement and to perform its obligations
hereunder and thereunder. The execution and delivery of this Agreement to which it is a party has been duly and validly authorized by all requisite corporate action and no additional corporate proceedings on the part of Dance are necessary to
authorize this Agreement. This Agreement has been duly and validly executed and delivered by Dance. This Agreement constitutes the legal, valid and binding obligations of Dance, enforceable against Dance in accordance with their respective terms,
except as may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws and equitable principles related to or limiting creditors’ rights generally, by the availability of equitable remedies and defenses. 

(c) No Conflicts; Required Consents. No Third Party or Governmental Authority’s Consent is required either with respect to
Dance’s execution and delivery of the Additional Agreements to which it is a party. The execution, delivery and performance of the Additional Agreements by Dance do not, and will not, either with or without notice or lapse of time: 

(i) conflict with, violate or result in a breach of: (A) Dance’s certificate of incorporation or bylaws; or (B) any Legal
Requirement applicable to Dance or by which its assets or properties are bound or affected; 
 (ii) give any Governmental Authority or other
Person the right to (A) exercise any remedy or obtain any relief under any Legal Requirement or any order, judgment, injunction, decree, or award of any arbitrator to which Dance is subject, (B) declare a default of, exercise any remedy
under, accelerate the performance of, cancel, terminate, modify or receive any payment under any indenture or loan or credit agreement or any other agreement, to which Dance is a party or by which Dance or any of its assets may be bound or affected
or (C) revoke, suspend or modify any Governmental Approval; or 

 (iii) require Dance to make or deliver any filing or notice to, a Governmental Authority, other
than as expressly contemplated by the Additional Agreements. 
 (d) Litigation. There is no claim, action, suit, proceeding,
arbitration, complaint, charge or investigation pending or to Dance’s Knowledge, threatened that questions the validity of this Agreement or the Additional Agreements. 

(e) Broker’s Fees. Dance has no liability or obligation to pay any fees or commissions to any broker, finder, agent or attorney
with respect to this Agreement or Additional Agreements. 
 EXCEPT FOR THE SPECIFIC REPRESENTATIONS AND WARRANTIES CONTAINED IN THIS SECTION 3.1 (AS
MODIFIED BY THE DANCE DISCLOSURE SCHEDULES) DANCE HEREBY EXPRESSLY DISCLAIMS AND NEGATES ANY REPRESENTATION OR WARRANTY, EXPRESSED OR IMPLIED, AT COMMON LAW, BY STATUTE, OR OTHERWISE. 

4.2 Representations and Warranties of Harmony. Harmony represents and warrants to Dance as follows as of the date hereof: 

(a) Organization and Qualification. Harmony is a Hong Kong corporation duly organized, validly existing and in good standing under the
laws of the jurisdiction of its formation, and has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted. 

(b) Authority. Harmony has all necessary power and authority to execute and deliver this Agreement and the other Additional Agreements
and to perform its obligations hereunder and thereunder. The execution and delivery of this Agreement and the other Additional Agreements to which it is a party have been duly and validly authorized by all requisite corporate action and no
additional corporate proceedings on the part of Harmony are necessary to authorize this Agreement or the other Additional Agreements to which it is a party or to consummate the Transactions. This Agreement has been duly and validly executed and
delivered by Harmony. This Agreement constitutes, and the other Additional Agreements to which it is a party will constitute, the legal, valid and binding obligations of Harmony, enforceable against Harmony in accordance with their respective terms,
except as may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws and equitable principles related to or limiting creditors’ rights generally, by the availability of equitable remedies and defenses. 

(c) No Conflicts; Required Consents. No Third Party or Governmental Authority’s Consent is required either with respect to
Harmony’s execution and delivery of the Additional Agreements to which it is a party. The execution, delivery and performance of the Additional Agreements to which it is a party by Harmony do not, and will not, either with or without notice or
lapse of time: 

 (i) conflict with, violate or result in any breach of: (A) Harmony’s certificate of
incorporation or bylaws (or such other similar corporate governance document), or (B) any Legal Requirement applicable to Harmony or by which its assets or properties are bound or affected; 

(ii) give any Governmental Authority or other Person the right to (A) exercise any remedy or obtain any relief under any Legal
Requirement or any order, judgment, injunction, decree, or award of any arbitrator to which Harmony is subject; (B) declare a default of, exercise any remedy under, accelerate the performance of, cancel, terminate, modify or receive any payment
under any indenture or loan or credit agreement or any other agreement, to which Harmony is a party or by which Harmony or any of its assets may be bound or affected or (C) revoke, suspend or modify any Governmental Approval; or 

(iii) require Harmony to make or deliver any filing or notice to, a Governmental Authority, other than as expressly contemplated by the
Additional Agreements. 
 (d) Litigation. There is no claim, action, suit, proceeding, arbitration, complaint, charge or
investigation pending or to Harmony’s Knowledge, threatened that questions the validity of this Agreement or the Additional Agreements. 

(e) Broker’s Fees. Harmony has no liability or obligation to pay any fees or commissions to any broker, finder, agent or attorney,
with respect to this Agreement or Additional Agreements. 
 (f) EXCEPT FOR THE SPECIFIC REPRESENTATIONS AND WARRANTIES CONTAINED IN THIS
SECTION 3.2 (AS MODIFIED BY THE HARMONY DISCLOSURE SCHEDULES) HARMONY HEREBY EXPRESSLY DISCLAIMS AND NEGATES ANY REPRESENTATION OR WARRANTY, EXPRESSED OR IMPLIED, AT COMMON LAW, BY STATUTE, OR OTHERWISE. 

ARTICLE 5 
 COVENANTS

 The Parties covenant and agree as follows: 

5.1 Regulatory Approvals. The Parties shall promptly execute and file, or join in the execution and filing of, any application,
notification or other document that may be necessary in order to obtain the authorization, approval or consent of any Governmental Authority, whether federal, state, local or foreign, which may be reasonably required in connection with the

 
Additional Agreements. The Parties shall use commercially reasonable efforts to obtain, and to cooperate with Asia JV to promptly obtain, all such Consents. [*] of the costs associated
with obtaining such Consents, including reasonable legal expenses related thereto, shall be borne by Harmony and [*] shall be borne by Dance. Each Party shall promptly inform one another of any material communication between such Party and
any Governmental Authority regarding any of the Additional Agreements. If any of the Parties or any of their respective Affiliates receives any formal or informal request for supplemental information or documentary material from any Governmental
Authority with respect to the Additional Agreements, the relevant Party shall make, or cause to be made, as soon as reasonably practicable, a response in compliance with such request. The Party receiving such communication or request shall direct,
in its sole discretion, the making of such response, but shall consider in good faith the views of the other Parties. 
 5.2
Confidentiality. 
 (a) Confidentiality Obligations. Subject to paragraph (b) below and except to the extent otherwise
expressly authorized by the disclosing Party in writing, each Party shall keep confidential and shall not publish or disclose, nor use for any purpose other than to exercise a right or perform an obligation under an Additional Agreement, any
Confidential Information received from the other Party. Confidential Information assigned to Asia JV shall be deemed not to be independently known by the contributing Party after the formation of Asia JV for purposes of this section and such Party
shall be deemed in receipt of Asia JV Confidential Information. For the avoidance of doubt, the terms, conditions, identity of the Parties and the existence of the Additional Agreements shall be considered Confidential Information of all Parties
until such time as disclosed pursuant to Section 5.2(b) or otherwise required to be disclosed by applicable Legal Requirements (subject to a reasonable opportunity for prior review and comment by the other Parties). The obligations set
forth in this Section 5.2(a) shall remain in effect during the term of this Agreement. In the event this Agreement is terminated as provided in Section 6.1, the obligation set forth in this Section 5.2(a) shall
remain in effect for five (5) years following termination of this Agreement. 
 (b) Authorized Disclosure. Each Party may use and
disclose Confidential Information of the other Party as follows: (i) in connection with the performance of its obligations or as reasonably necessary in the exercise of its rights under the Additional Agreements, (ii) to the extent such
disclosure is reasonably necessary in prosecuting or maintaining any patent or other intellectual property in accordance with the Additional Agreements, prosecuting or defending litigation related to the Additional Agreements, complying with
applicable Legal Requirements with respect to performance under the Additional Agreements (including to comply with the applicable rules of any public stock exchange upon which the stock of such Party or its Affiliate is listed). 

 (c) Coordination Regarding Required Disclosures. In the event a Party reasonably
determines that disclosure of the other Party’s Confidential Information is required by a Legal Requirement or applicable stock exchange rule, the Party proposing to disclose such Confidential Information shall promptly notify the owner of the
Confidential Information, so that the owner may seek an appropriate protective order or other appropriate remedy. At any time that such protective order or remedy has not been obtained, the Party proposing to disclose such Confidential Information
may disclose only that portion of the Confidential Information which such Party is legally required to disclose or of which disclosure is required to avoid sanction for contempt or any similar sanction, and such Party shall exercise their
commercially reasonable efforts to obtain assurance that confidential treatment will be accorded to such Confidential Information so disclosed. 

ARTICLE 6 
 TERMINATION

 6.1 Termination. This Agreement may be terminated by either Party: 

(a) If a first Party believes that the other Party is in Material Breach of this Agreement, then such first Party may deliver notice of such
breach to the other Party. In such notice the first Party shall identify the actions or conduct that such Party would accept as an acceptable cure of such breach. The alleged Party in breach shall have sixty (60) days to either cure such breach
or, if cure cannot be reasonably effected within such sixty (60) day period, to deliver to the other Party a plan for curing such breach that is reasonably sufficient to effect a cure. Such a plan shall set forth a program for achieving cure as
rapidly as practicable. Following delivery of such plan, the breaching Party shall use diligent efforts to carry out the plan and cure the breach. If the Party receiving notice of breach fails to cure such breach within the sixty (60) day
period or such longer as reasonably set forth in the Party’s reasonably sufficient plan for curing such breach as applicable, the first Party may terminate this Agreement upon thirty (30) days advance written notice. For clarity, only the
non-breaching Party has the option to terminate, and only after the breaching Party has the opportunity to cure as described above. 
 (b) in
the event that the other Party falls into bankruptcy, notorious insolvency, enters into an agreement for the assignment of assets for the benefit of creditors, commences a winding-up, is nationalised, enters into liquidation or otherwise ceases to
conduct its business as heretofore conducted; 
 6.2 Effect of Termination. If this Agreement is terminated as described in
Section 6.1, this Agreement shall become null and void and of no further force and effect, except that (i) the provisions of Section 5.3 and Article 7 shall survive such termination in accordance with their terms
and (ii) nothing in this Section 6.2 shall be deemed to release any Party from any liability for any breach by such Party of the terms and provisions of this Agreement or to impair the right of any Party to compel specific
performance by the other Party of its obligations under this Agreements. 

 ARTICLE 7 

MISCELLANEOUS 
 7.1
Assignment. This Agreement shall not be assignable or otherwise transferred, in whole or in part, without the written consent of all Parties; except that this Agreement may be assigned, without the consent of any Party, to an entity that
acquires all or substantially all of the business or assets of the assigning Party. Any attempted assignment or transfer of this Agreement in contravention of this provision shall be null and void. The terms and conditions of this Agreement shall be
binding on and inure to the benefit of the permitted successors and assigns of the Parties. 
 7.2 Notices. Any notice, request,
delivery, approval or consent required or permitted to be given under this Agreement shall be in the English language, in writing, shall specifically refer to this Agreement and shall be deemed to have been sufficiently given if delivered in person,
transmitted as a PDF attachment to an email (receipt verified) or by express courier service (signature required) or five (5) Business Days after being sent by registered letter, return receipt requested (or its equivalent) to the Party to
which it is directed at its address or email address shown below or such other address or email address as such Party will have last given by notice to the other Parties. Either Party shall have the right to change its correspondence address through
delivery of a correspondence change notice to the other party. 
 If to Dance, 

2 Mint Plaza #804 
 San
Francisco, CA 94103 
 Attn: John S. Patton 

E-mail: jpatton@dancepharma.com 

with copies (which shall not constitute notice) to: 

Lowenstein Sandler LLP 
 65
Livingston Avenue 
 Roseland, New Jersey 07068 

Attn: Michael J. Lerner 

        Ethan A. Skerry 

E-Mail: mlerner@lowenstein.com 

              eskerry@lowenstein.com 

 If to Harmony, addressed to: 

Room 1008, 10/F Mega Trade Centre 

1-6 Mei Wn Street, Tsuen Wan, Hong Kong 

Attn: Mr LEUNG Kwok Yue Richard 

E-mail: richard@uninetech.com 

with a copy (which shall not constitute notice) to: 

Harmony Asset Limited 
 Room
1902, Cheung Kong Center 
 2 Queen’s Road Central, Hong Kong 

Attn: Ms Vivian YAN 
 Email:
vivian@harmonyasset.com.hk 
 7.3 Amendments and Waivers. This Agreement may be amended, supplemented or changed, and any provision
hereof may be waived, only by a written instrument making specific reference to this Agreement signed by the Party against whom enforcement of any such amendment, supplement, modification or waiver is sought. No action taken pursuant to this
Agreement, including any investigation by or on behalf of any Party, shall be deemed to constitute a waiver by the Party taking such action of compliance with any representation, warranty, covenant or agreement contained herein. The waiver by any
Party of a breach of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of such breach or as a waiver of any other or subsequent breach. No failure on the part of any Party to exercise, and no delay
in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such Party preclude any other or further exercise thereof or the exercise of any other
right, power or remedy. 
 7.4 Severability. If any provision hereof is held invalid, illegal or unenforceable by any arbitrator or
court of competent jurisdiction from which no appeal can be or is taken, the Parties shall negotiate in good faith a valid, legal and enforceable substitute provision that most nearly reflects the original intent of the Parties and all other
provisions hereof shall remain in full force and effect in such tribunal or jurisdiction, as the case may be, and shall be liberally construed in order to carry out the intentions of the Parties as nearly as may be possible. Such invalidity,
illegality or unenforceability shall not affect the validity, legality or enforceability of such provision in any other tribunal or jurisdiction. 

 7.5 Entire Agreement. The Additional Agreements (including Exhibits thereto) set forth all
the covenants, promises, agreements, warranties, representations, conditions and understandings between the Parties with respect to the subject matter hereof and thereof, and supersede all prior agreements and understandings between the Parties with
respect to such subject matter. 
 7.6 Relationship of the Parties. The Parties agree that the relationship of Dance and Harmony
established by this Agreement is that of independent contractors. Except as may be specifically provided herein, no Party shall have any right, power or authority, nor shall they represent themselves as having any authority to assume, create or
incur any expense, liability or obligation, express or implied, on behalf of any other Party, or otherwise act as an agent for any other Party for any purpose. 

7.7 Third Party Beneficiaries. All rights, benefits and remedies under this Agreement are solely intended for the benefit of the
Parties and no Third Party shall have any rights whatsoever under this Agreement. 
 7.8 Further Assurances. At any time or from
time-to-time on and after the date of this Agreement, any Party shall at the request of the other Parties (i) deliver to the requesting Party such records, data or other documents as may be reasonably necessary to give effect to the provisions
of this Agreement or any of the Additional Agreements, (ii) execute, and deliver or cause to be delivered, all such consents, documents or further instruments of assignment, transfer or license as may be reasonably necessary to give effect to
this Agreement or any of the Additional Agreements, and (iii) take or cause to be taken all such actions, as the requesting Party may reasonably deem necessary or desirable in order for the requesting Party to obtain the full benefits of this
Agreement any of the Additional Agreements. 
 7.9 Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together, shall constitute one and the same instrument. 
 7.10 Interpretation.
Unless otherwise indicated herein, with respect to any reference made in this Agreement to a Section (or Article, Subsection, Paragraph, Subparagraph or Clause), Exhibit or Schedule, such reference shall be to a section (or article, subsection,
paragraph, subparagraph or clause) of, or an exhibit or schedule to, this Agreement. The table of contents and any article, section, subsection, paragraph or subparagraph headings contained in this Agreement and the recitals at the beginning of this
Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall
be deemed, as the context indicates, to be followed by the words “but (is/are) not limited to.” Words used herein, regardless of the number and gender specifically used, shall be deemed and construed to include any other number, singular
or plural, and any other gender, masculine, feminine or 

 
neuter, as the context indicates is appropriate. Where specific language is used to clarify or illustrate by example a general statement contained herein, such specific language shall not be
deemed to modify, limit or restrict the construction of the general statement which is being clarified or illustrated. 
 7.11
Construction. The interpretation of this Agreement shall not take into consideration the identity of the Party drafters of this Agreement, and no canon of construction shall be applied that resolves ambiguities against the drafter of a
document. Each Party acknowledges that: (a) it has read this Agreement; (b) it has been represented in the preparation, negotiation and execution of this Agreement by legal counsel of its own choice or has voluntarily declined to seek such
counsel; and (c) it understands the terms and consequences of this Agreement and is fully aware of the legal and binding effect of this Agreement. 

7.12 Governing Law; Submission of Jurisdiction; Selection of Forum; Waiver of Jury Trial. 

(a) This Agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this
Agreement, or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement or as an
inducement to enter into this Agreement), shall be governed by and construed in accordance with the laws of Hong Kong. 
 (b) Each of the
Parties (i) irrevocably agrees that all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including any
claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement or as an inducement to enter into this Agreement) shall be exclusively resolved by a court located in Hong
Kong, and (ii) waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the resolution of any such claims or causes of action by any such court. 

(c) EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT
TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE ADDITIONAL AGREEMENTS, INCLUDING WITH RESPECT TO ANY LITIGATION THAT INVOLVES EITHER PARTY’S REPRESENTATIVES. 

7.13 Specific Performance. The Parties agree that irreparable damage would occur in the event that the provisions of this Agreement
were not performed in accordance with their specific terms. Accordingly, it is agreed that the Parties shall be entitled to an injunction or injunctions to enforce specifically the terms and provisions hereof in any court of Hong Kong, this being in
addition to any other remedy to which they are entitled at law or in equity. 

 IN WITNESS WHEREOF, the Parties have executed this Agreement in duplicate originals by
their duly authorized representatives as of the date first written above. 
  

			
	DANCE BIOPHARM INC.
		
	By:	 	/s/ John S. Patton
	Name: John S. Patton
	Title:
	
	HARMONY ASSETS LIMITED
		
	By:	 	/s/ Augustine Chow
	Name:
	Title:

 Exhibit A 

Material Terms of License Agreement 

between Dance and Asia JV 
  

			
	 Section
	  	 Comments

	Recitals	  	 •   Dance Biopharm Inc (“Dance”) owns or Controls certain
assets, rights, intellectual property and know-how relating to its lead product Dance 01 an insulin drug product and device combination (the Product’)
  

•   Dance also owns or Controls certain assets, rights, intellectual property and know-how
relating to the development and manufacture of inhaled formulations of insulin.
  

•   Harmony Assets Limited (“Harmony”) has experience and resources for
developing and manufacturing pharmaceutical products in the Territory (as hereinafter defined).
  

•   Harmony and Dance have formed a Joint Development Vehicle (“Asia JV”) for the
development and commercialization of the Product in the Territory.

		
	I. Selected Definitions	  	 •   Control or Controlled shall mean with respect to a particular item,
materials, information or intellectual property, the possession of the right whether through ownership or license (other than by operation of this Agreement or any of the Transaction Agreements) to grant licenses as contemplated herein and in the
Transaction Agreements.
  

•   Know-How: All know-how, show-how, technical and non-technical information, trade
secrets, formulae, techniques, sketches, drawings, materials, models, inventions, designs, specifications, processes, apparatus, equipment, databases, research, experimental work, development, pharmacology and clinical data, software programs and
applications, software source documents, third-party licenses, and any related type of proprietary intellectual property right or other information other than the Patents.
  

•   Master Agreement shall mean the Master Agreement for Joint Development Vehicle between
Dance and Harmony.

			
		  	 •   Patents: (a) The patents and patent applications in the Territory
owned or Controlled by Dance relating to or that cover, in whole or part, the composition, use, manufacture, distribution, marketing, promotion, sale, administration or formulation of the Product, and any substitutions, extensions, additions,
reissues, reexaminations, renewals, divisions, continuations, continuations-in-part or supplementary protection certificates thereof, and all foreign counterparts of any of the foregoing, existing as of the consummation of the Agreement (the
“Closing”, and the date upon which the Closing occurs, the “Closing Date”) or thereafter during the Term of the License or that is licensed or acquired by Dance from a third party during the Term of the License and
that is necessary or useful for or used in connection with the activities to be performed by Asia JV and Patents Controlled by Dance that claim or are directed to the foregoing. The Patents are set forth on Exhibit B hereto.

 
 •   Dance Background
Intellectual Property means (a) Know-How that relates to the Product and the formulations of inhaled insulin and their method of production and/or use controlled by Dance as of the Effective Date or thereafter during the term of the License
which is either conceived by Dance independently during the term of the License or that is licensed or acquired by Dance from a third party during the term of the License and that is necessary or useful for or used in connection with the activities
performed by Dance under the Transaction Agreements and (b) Patents Controlled by Dance that claim or are directed to be the foregoing know-how.
  

•   Dance Foreground Intellectual Property means all Know-How arising from activities
performed by Dance under the Transaction Agreements relating to the manufacture, methods of production and use of the Dance Analogs and/or Oral Formulation whether conceived, discovered, reduced to practice or writing generated or developed by the
employees, agents or consultants of Dance, Harmony or Asia JV and (ii) Patents that are claimed or are directed to the Know-How described in the foregoing clause (i).

			
		  	 •   Dance Intellectual Property Rights: The Dance Background Intellectual
Property and the Dance Foreground Intellectual Property.
  

•   Territory: Greater China (PRC, Taiwan, Hong Kong) India, Indonesia, South Korea, The
Philippines, Singapore, Thailand, Bangladesh, Brunei, Cambodia, Laos, Malaysia, Mongolia, Myanmar(Burma), Nepal, Sri Lanka, Vietnam, Australia and New Zealand..

	II. License Grant	  	  
 •   Dance
will grant to Asia JV an exclusive license (with the right to sublicense with the consent of Dance not to be unreasonably withheld) in the Territory under the Dance Intellectual Property Rights to develop the Product and, to make, have made (except
for the device mouthpiece cartridge) use, market and sell the Product(s) and any improvements thereof.
  

•   The License shall include all Dance Intellectual Property Rights and other rights owned or
Controlled by Dance as of the Effective Date that are useful or necessary for Asia JV to develop the Products and to make, have made, market, use and sell the Products in the Territory.

 
 •   Dance shall retain all
appropriate rights under the Dance Intellectual Property Rights necessary for Dance to perform its obligations under the Agreement and to make and have made the Product(s) for both inside the Territory as well as outside the Territory.

 
 •   Dance shall also retain
all rights necessary to develop and commercialize the Product outside of the Territory
  

•   Dance shall also grant such sublicenses to third party intellectual property as necessary to
enable Asia JV to exercise its rights under the Agreement.
  

	III. Financial Terms	  	 •   Milestones of [*] payable quarterly in arrears based upon [*]
of sales following the first commercial sale of Product in the Territory until such time as the full amount has been paid in full.
  

•   Royalty of [*] of Gross Sales Margin (Net Sales of Product minus Product Transfer Cost)
in the Territory, except in Australia and New Zealand, where the royalty may be [*] of Gross Sales Margin, to be negotiated at the time Asia JV negotiates commercialization partnerships for the
Territory.

			
	IV. Intellectual Property	  	 •   Dance shall be responsible for the prosecution of any patent applications
and maintenance of any patents related to the Dance Intellectual Property Rights and any Joint Inventions in the Territory. All patent prosecution, maintenance and other patent related costs in the Territory shall be paid [*] by Harmony and [*] by
Dance.
  
 •   Asia JV and/or
Harmony shall as necessary support Dance in such prosecution by making applicable personnel available, providing existing requested data/records and executing documents, in each case at no charge to Dance.

 
 •   Dance Intellectual
Property Rights shall continue to be owned by Dance subject to the terms of the License Agreement.
  

•   Joint Inventions shall be owned by Dance and patent applications related to such Joint
Inventions shall be prosecuted in the name of Dance but subject to the License.
  

	V. Other Terms	  	 •   The License Agreement will also contain such other terms and conditions as are customary in such agreements,
including without limitation, diligence and reporting obligations, confidentiality, indemnification and, representations and warranties. Additional and ancillary agreements may also be executed over time as required.

 Exhibit B 

DANCE PATENTS ISSUED AND PENDING 

January 2013 
  

							
	
	DEVICE PATENTS
	 US Patent No
	  	 Title
	  	Country and Patent
No/Issue Date	  	Expiration & Brief Summary
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]

							
	
	FORMULATION PATENTS
	 US Patent No
	  	 Title
	  	Country and Patent
No/Issue Date	  	Expiration & Brief Summary
				
	[*]	  	[*]	  	[*]	  	[*]
	
	DISPENSER PATENTS
	 US Patent No
	  	 Title
	  	Country and Patent
No/Issue Date	  	Expiration & Brief Summary
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]
				
	[*]	  	[*]	  	[*]	  	[*]

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