Document:

Portions of this document have been omitted as permitted by the
rules of the Securities and Exchange Commission. [*] designates the omitted information.

 

Exhibit 10.1

LICENSE
AGREEMENT

 

This LICENSE
AGREEMENT (this “Agreement”), the effective date of which is April 1, 2020 (hereinafter “Effective
Date”) is made by and between Kansas State University Research Foundation, a non-profit Kansas corporation having
its principal office at 2005 Research Park Circle, Manhattan, Kansas, USA, 66502 (hereinafter referred to as “Foundation”)
and Cocrystal Pharma, Inc., a corporation having its principal office at 19805 North Creek Parkway, Bothell, WA 98011 (hereinafter
referred to as “Licensee”) (each of Foundation and Licensee, a “Party” and together the “Parties”).

 

RECITALS

 

		A.	Foundation has been assigned all right, title and interest of Kansas State
University in the patent rights [*], and Foundation has rights to grant licenses under Patent Rights (as hereinafter defined) and
Know-How (as hereinafter defined).

 

		B.	Wichita State University and the University of Iowa (hereinafter the “Other
                                                               Institutions”) have an interest in [*].

 

		C.	Foundation has executed an Inter-Institutional Agreement with the Other Institutions
providing Foundation with the exclusive right to negotiate, grant and sign an exclusive license on behalf of the Other Institutions
for the Patent Rights with an interested commercial partner;

 

		D.	Wichita State University [*];

 

		E.	Foundation and the Other Institutions desire to have products and services
based on the inventions described in the Patent Rights developed and commercialized to benefit the public; and

 

		F.	Licensee desires to obtain a license under the Patent Rights and Know-How.

 

NOW, THEREFORE,
in consideration of the premises and the mutual promises and covenants contained herein, the Parties hereby agree as follows:

 

ARTICLE 1: DEFINITIONS

 

For the purposes of this Agreement,
the following words and phrases shall have the following meanings:

 

	1.1	“Affiliate” means any individual or entity directly or
indirectly controlling, controlled by or under common control with, a Party to this Agreement. For purposes of this Agreement,
the direct or indirect ownership of over fifty percent (50%) of the profits or earnings of an entity shall be deemed to constitute
control. Such other relationship as in fact results in actual control over the management, business and affairs of an entity shall
also be deemed to constitute control. For the limited scope of this Agreement, Kansas State University (hereinafter the “University”)
is deemed to be an Affiliate of Foundation and University of Iowa (“UI”) is deemed an Affiliate of University
of Iowa Research Foundation Iowa (“UIRF”).

 

	1.2	“Confidential Information” as used in this Agreement means
all information in any form whatsoever disclosed in any manner by or on behalf of one Party or its Affiliates to the other Party
or any of its Affiliates before or after the Effective Date and includes without limitation information about products, raw materials,
packaging, manufacturing processes, samples, technical information, scientific information, financial information, business information,
customer and supplier lists, and the terms and conditions of this Agreement .

 

    	1

    	 

    

 

	1.3	“Control” means, with respect to any item of Know-How,
Patent Right, or other intellectual property right, a Party has the ability (whether by sole, joint or other ownership interest,
license, sublicense or otherwise, and including any such abilities which are contingent) (other than by operation of the licenses
granted in this Agreement) to grant a license, sublicense, access or right to use (as applicable) under such item of Know-How,
Patent Right, or other intellectual property right to the other Party on the terms and conditions set forth herein at the time
of such grant, in each case without breaching the terms of any agreement with a third party.

 

	1.4	Omitted

 

	1.5	Omitted

 

	1.6	“Field of Use” means all uses of “Licensed Products”
for all fields, including but not limited to therapeutic, prophylactic and diagnostic uses.

 

	1.7	“Know-How” means any subject matter owned or Controlled
by Foundation relating to the subject matter of the Patent Rights but not claimed in the Patent Rights and otherwise not known
to the general public.

 

	1.8	“Licensed Products” means on a country-by-country basis, any product for use
in the Field of Use.

 

	1.9	“Net Sales” means the gross amount of monies or cash
equivalent or other consideration which is paid by unaffiliated third parties to Licensee, and its sublicensee’s billings
for Licensed Products less the sum of the following:

 

		a.	discounts allowed in amounts customary in the trade;
		b.	sales, tariff duties and/or use taxes directly imposed and with reference to particular sales;
		c.	outbound transportation and insurance prepaid or allowed;
		d.	amounts allowed or credited on returns, rebates, chargebacks and other allowances; and
		e.	retroactive price reductions that are actually allowed or granted.

 

No deductions
shall be made for commissions paid to individuals whether they are with independent sales agencies or regularly employed by Licensee
and on its payroll, or for cost of collection s. Licensed Products shall be considered “sold” when billed out or invoiced.
For the purposes of calculating Net Sales, transfers to a sublicensee or an Affiliate of Licensed Product under this Agreement
for (i) end use (but not resale) by the sublicensee or Affiliate shall be treated as sales by Licensee at list price of Licensee
and (ii) resale by a sublicensee or an Affiliate shall not be treated as Net Sales, but the resale thereof shall be treated as
Net Sales; provided, however, Net Sales shall not include any Licensed Products transferred for use in connection with clinical
trials or other development activity, pre-clinical research and trials, promotional use (including samples), compassionate use
or indigent programs. [For “compassionate use”, see https://www.fda.gov/news-events/public-health-focus/expanded-access
https://www.cancer.org/treatment/treatments-and-side-effects/ clinical-trials/ compassionate-drug-use.html ]

 

    	2

    	 

    

 

	1.10	“Patent Rights” means any subject matter claimed in or
disclosed by [*].

 

	1.11	“Term” the term of this Agreement shall commence on the
Effective Date and, unless earlier terminated as provided in Article 11, shall continue in full force and effect until the expiration
of the last to expire of the Patent Rights.

 

	1.12	“Territory” means worldwide.

 

	1.13	“Valid Patent Claim” means a claim in any issued and
unexpired patent included in the Patent Rights, which claim has not been held invalid or unenforceable by the decision of a court
or government agency or other appropriate body of competent jurisdiction (which decision is not appealable or has not been appealed
within the time allowed for appeal), has not been abandoned or admitted to be invalid or unenforceable through reissue, reexamination
or disclaimer, and has not been made unenforceable due to failure to pay maintenance fees.

 

ARTICLE 2: LICENSE
GRANT

 

	2.1	Subject to the terms and conditions set forth herein, Foundation hereby
grants to Licensee an exclusive, royalty-bearing right and license in the Territory for the Field of Use to practice under the
Patent Rights to make, have made, use, lease, sell, offer to sell, and import Licensed Products in the Territory until the end
of the Term for which the Patent Rights are granted to the Foundation by the responsible agencies, unless this Agreement shall
be sooner terminated according to the terms hereof.

 

	2.2	Foundation also hereby grants to Licensee a non-exclusive right and license
in the Territory for the Field of Use to practice under the Know-How to make, have made, use, lease, sell, offer to sell, and import
Licensed Products in the Territory until the end of the Term for which the Patent Rights are granted to the Foundation by the responsible
agencies, unless this Agreement shall be sooner terminated according to the terms hereof.

 

	2.3	Foundation and the University have a reserved right to practice under the
Patent Rights for non-commercial research and educational purposes within the mission of the University, adhering to the confidentiality
provisions of Article 13.

 

	2.4	Licensee shall have the right to enter into sublicensing agreements for
the rights, privileges and licenses granted hereunder, provided that Licensee shall give Foundation written notice thereof within
thirty (30) days after any such sublicense shall become effective. No such sublicense shall relieve Licensee of its obligations
hereunder and Licensee and each such sublicensee shall execute documents to the foregoing effect, a copy of which and any amendments
thereto will be furnished to Foundation promptly upon execution and delivery. Upon any termination of this Agreement, all sublicensee’s
rights shall also terminate, except as provided in Section 11.7 hereof.

 

    	3

    	 

    

 

	2.5	Licensee agrees that any sublicense granted by it shall be subject in all
respects to restrictions, provisions and obligations in this Agreement and shall be binding upon the sublicensee as if it were
a party to this Agreement and include a provision prohibiting the sublicensee from sublicensing its rights under such sublicense
agreement.

 

	2.6	Licensee shall not receive from sublicensee(s) anything of value in lieu
of cash payments in consideration for any sublicense under this Agreement, without the express prior written permission of Foundation.

 

	2.7	The license granted shall not be construed to confer any rights upon Licensee
by implication, estoppel or otherwise as to any technology not specifically set forth in Patent Rights or Know-How.

 

	2.8	Development of the invention was sponsored in part by the United States
Government, and as a consequence this Agreement, any license agreement and the invention are subject to overriding obligations
to the Federal Government (including a non-exclusive, irrevocable license to use the invention by or on behalf of the Government
throughout the world), under 35 U.S.C. §§200-212 and applicable regulations.

 

ARTICLE 3: DUE DILIGENCE

 

	3.1	Licensee shall use commercially reasonable efforts and shall cause its sublicensees
to use commercially reasonable efforts: (a) to develop Licensed Products; (b) to introduce Licensed Products into the commercial
market; and (c) to market Licensed Products following such introduction into the market; to the extent such Licensed Products are
covered by a Valid Patent Claim.

 

	3.2	Foundation will provide Licensee with all information and data related to
the Patent Rights and Know-How, including the following data upon signing of this Agreement and as developed in the future:

 

		(a)	List of all antiviral compounds described in Patent Rights or Know-How;

 

		(b)	All available in vitro and in vivo data and reports of such antiviral compounds;

 

		(c)	Detailed synthesis routes of such antiviral compounds; and

 

		(d)	Invention disclosures pertaining to the Patent Rights (such disclosures at the Other Institutions
to be provided reasonably soon after the Effective Date).

 

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	3.3	Omitted

 

	3.4	Until reporting begins under Section 5.2, Licensee shall, within sixty (60)
days after the end of each calendar year starting in year 2021, furnish Foundation with a written report summarizing its, its Affiliates’
and its sublicensees’ efforts during the prior year to develop and commercialize Licensed Products, including: (a) research
and development activities completed; (b) commercialization and/or other distribution efforts, including significant corporate
transactions involving Licensed Products; and (c) marketing efforts. Each report must contain a sufficient level of detail for
Foundation to assess whether Licensee is in compliance with its obligations under Section 3.1 and a discussion of intended efforts
for the then current year. Together with each report, Licensee shall provide Foundation with a copy of the then current development
plan for the current year, including an updated schedule of anticipated events or milestones.

 

	3.5	Licensee’s failure to perform in accordance with Section 3.4 above
shall be grounds for Foundation to terminate this Agreement pursuant to Section 11.3 herein, providing such deficiency is not remedied
within ninety (90) days of notice by Foundation to Licensee that such deficiency exists.

 

ARTICLE 4: CONSIDERATION
FOR GRANT OF LICENSE

 

	4.1	For the rights, privileges and license granted, Licensee agrees to reimburse
Foundation the sum of [*], payable thirty (30) days after the Effective Date, for third-party fees and expenses paid by Foundation
prior to the Effective Date of this Agreement associated with the filing, prosecution and maintenance of the Patent Rights. The
details of these fees are set forth in Appendix A (“Patent Fees”). Licensee shall also make the following payments
to Foundation in the manner hereinafter provided during the Term:

 

		(a)	LICENSE INITIATION FEE:
                                         Licensee shall pay to Foundation a non-refundable License Initiation Fee in the sum of
                                         [*], payable thirty (30) days after the Effective Date. This License Initiation
                                         Fee shall be separate from and unrelated to any other fees, such as, the Annual License
                                         Maintenance Fees, and Royalty payments set forth in this Article 4.

 

		(b)	ANNUAL LICENSE MAINTENANCE FEE: Licensee shall pay the following annual
license maintenance fees (the “Annual License Maintenance Fees”):

 

[*] each year for the first
[*]; and [*] each year thereafter.

 

Such Annual
License Maintenance Fees shall be due on the anniversary date of the Effective Date and are non-refundable.

 

Annual
License Maintenance Fees paid in the years prior to the year of first commercial sale of first Licensed Product by Licensee for
human therapeutic use shall be creditable against future Running Royalties (as hereinafter defined) due in the years after the
first commercial sale. Such credits may be used at a rate of up to 50% of the Running Royalties due in a given year. Unused credits
will carryover and be applied to Running Royalties in future years until exhausted.

 

    	5

    	 

    

 

Beginning
with the year of the first commercial sale of first Licensed Product by Licensee for human therapeutic use, Running Royalties accrued
in the twelve (12) months prior to the due date of each Annual License Maintenance Fee shall be creditable only against such Annual
License Maintenance Fee up to 100% of the Running Royalties accrued by the end of that same twelve (12) month period. For the avoidance
of doubt, this paragraph and the next paragraph shall be applied first to the Annual License Maintenance Fee that is due before
the immediately preceding paragraph is applied.

 

As set
forth in Section 4.l(f), any payment to Foundation pursuant to Section 4.l(e) in the immediately preceding twelve (12) months shall
also be applied to the Annual License Maintenance Fee then due.

 

(c)       RUNNING
ROYALTIES: During the Term, Licensee shall pay Foundation running royalties in an amount equal to [*] of Net Sales of Licensed
Products covered by a Valid Patent Claim (such royalties, the “Running Royalties”); provided, however, that
in the event Licensee or its sublicensee or Affiliate is required to pay a third party in consideration for a license under any
patent rights claiming the composition, use or manufacture of the Licensed Product, Licensee shall then be entitled to credit fifty
percent (50%) of such third party payments against the Running Royalties with respect to the Net Sales of the Licensed Product,
such credit not to exceed fifty percent (50%) of the Running Royalties otherwise due for any calendar quarter for the Licensed
Product.

 

		(d)	DEVELOPMENT MILESTONE PAYM ENTS: Licensee will pay development milestone
payments as set forth below within thirty (30) days after the achievement of the relevant milestone by Licensee, or its affiliates
or sublicensees, as applicable, with respect to a therapeutic Licensed Product for human use.

 

“Major Country” means the United Kingdom, France,
Germany, Italy, Spain or Canada.

 

	Dosing of the first patient with the first Licensed Product in a Phase 1 clinical trial	[*]
	Dosing of the first patient with the first Licensed Product in a Phase 2 clinical trial	[*]
	Dosing of the first patient with the first Licensed Product in a Phase 3 clinical trial	[*]
	Regulatory approval of the first Licensed Product in the United States	[*]
	First commercial sale of the first Licensed Product in the United States	[*]
	First commercial sale of the first Licensed Product in a Major Country outside North America.	[*]

 

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		(e)	I. Sublicensing for Human Health Use - In addition to Running Royalties, a percentage
of any upfront payments received by Licensee from sublicensees in consideration for sublicensing the Patent Rights for human use
(drugs) shall be paid to Foundation based on the following schedule:

 

	 	●	[*]
	 	●	[*]
	 	●	[*]
	 	●	[*]

 

II. [*]

 

	 	●	[*]
	 	●	[*]

 

		(f)	All payments made in accordance with Sections 4.l(c) and 4.l(e) shall be
credited against the Annual License Maintenance Fee provided for in Section 4.l(b), but only with respect to the immediately preceding
twelve (12) months in which they are received by Foundation.

 

	4.2	No multiple Running Royalties shall be payable because any Licensed Product,
its manufacture, use, lease; importation or sale are or shall be covered by more than one Valid Patent Claim in one or more Patent
Rights licensed under this Agreement.

 

	4.3	All Running Royalty payments due hereunder shall be paid in full, without
deduction of taxes or other fees which may be imposed by any government and which shall be paid by Licensee. Non royalty payments
under Section 4.l(e) shall be net of any transaction taxes or fees, not including income tax on profits, which may be imposed by
any government upon receipt by Licensee.

 

	4.4	Running Royalties shall accrue when Licensed Products are invoiced, or if
not invoiced, when delivered to a third party, not an Affiliate or sublicensee whose resale would constitute Net Sales. Licensee
shall within sixty (60) days after March 31, June 30, September 30 and December 31, of each year, pay Running Royalties. Each payment
shall be for Running Royalties accrued within Licensee’s most recently completed calendar quarter.

 

	4.5	Royalty payments shall be paid in United States Dollars (“USD”)
without deduction of exchange, collection or other charges in Manhattan, Kansas, or at such other place as Foundation may reasonably
designate consistent with the laws and regulations controlling in any foreign country. If any currency conversion shall be required
in connection with the payment of Running Royalties, such conversion shall be made by using the exchange rate published in the
Wall Street Journal on the last business day of the calendar quarterly reporting period to which such royalty payments relate.

 

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	4.6	All payments due Foundation shall be made out to “Kansas State University
Research Foundation.” Payment may be remitted via bank wire transfer, at Licensee’s expense, in immediately available
funds to such bank account in the United States designated in writing by Foundation from time to time.

 

	4.7	The Running Royalty and other payments set forth in this Agreement and amounts
due under Article 6 shall, if overdue, bear interest from and including the date payment is due until payment at a per annum rate
equal to [*] percent ([*]%). The payment of such interest shall not foreclose Foundation from exercising any other rights it may
have as a consequence of the lateness of any payment.

 

ARTICLE 5: REPORTS AND
RECORDS

 

	5.1	Licensee shall keep full, true and accurate books of account containing
all particulars that may be necessary for the purpose of showing the amounts payable by Licensee to Foundation. Said books of account
shall be kept at Licensee’s principal place of business or the principal place of business of the appropriate division of
Licensee to which this Agreement relates. Said books and the supporting data shall be open at all reasonable times for three (3)
years following the end of the calendar year to which they pertain, to the inspection by an independent certified public accounting
firm selected by Foundation and reasonably acceptable to Licensee, at Foundation’s expense, for the sole purpose of verifying
Licensee’s royalty statements or compliance in other respects with this Agreement. The accounting firm shall disclose to
Foundation whether the reports are correct or incorrect and the extent of any discrepancy. Should such inspection lead to the discovery
of a greater than five percent (5%) discrepancy in reporting to Foundation’s detriment, Licensee agrees to pay the full cost
of such inspection. Foundation may exercise its rights under this Section 5.1 only once every year per audited entity and only
with reasonable prior notice to the audited entity.

 

	5.2	Before the first commercial sale of a Licensed Product, Licensee shall submit
the reports due under Section 3.4. After the first commercial sale of a Licensed Product, Licensee, within sixty (60) days after
March 31, June 30, September 30 and December 31, of each year, shall deliver to Foundation true and accurate reports of the business
conducted by Licensee and its sublicensee(s) during the preceding three-month period using a format similar to the example shown
in Appendix B (“Royalty Report Form”). These shall include the following:

 

		(a)	amount of Licensed Products manufactured and sold by Licensee and all sublicensees;

 

		(b)	total billings for Licensed Products sold by Licensee and all sublicensees;

 

		(c)	methods used to calculate the Running Royalty;

 

		(d)	the exchange rate used;

 

		(e)	deductions applicable as provided in Section 1.9;

 

		(f)	non-royalty sublicensing payments due under Section 4.l(e);

 

		(g)	total Running Royalties due; and

 

		(h)	names and addresses of all sublicensees of Licensee.

 

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With each such report submitted,
Licensee shall pay to Foundation the royalties due and payable under this Agreement. Licensee shall provide such report even if
no royalties shall be due.

 

ARTICLE 6: PATENT PROSECUTION

 

	6.1	Foundation will be responsible for the preparation, filing, prosecution,
protection, defense and maintenance of all Patent Rights, using independent patent counsel reasonably acceptable to Licensee. However,
Foundation shall give Licensee the opportunity to provide comments on and make requests of Foundation concerning the preparation,
filing, prosecution, protection, defense and maintenance of the Patent Rights, and shall seriously consider such comments and requests;
however, final decision-making authority shall vest in Foundation.

 

	6.2	Foundation, either directly or through its attorneys, shall keep Licensee
or its designated attorneys adequately informed with respect to the filing, prosecution, and maintenance of all patent applications
and patents licensed under this Agreement. Licensee shall have the right to request and receive additional information, as Licensee
or its attorneys may require, including copies of patent applications, patents, patent office actions, and replies thereto.
	 	 
	6.3	Separate from the payments set forth in Article 4, Licensee shall reimburse
Foundation for all reasonable costs associated with the Patent Rights incurred after the Effective Date and paid by Foundation
or its Affiliate without reimbursement by a third party. These reimbursements shall be due within thirty (30) days after receipt
of Foundation’s invoice by Licensee, and shall be non-refundable and non-creditable. To the extent practicable, such expenses
shall be pre-approved by Licensee, and Foundation agrees to consult with Licensee as to the preparation, filing, prosecution and
maintenance of the Patent Rights and shall furnish to Licensee copies of relevant documents in Foundation’s or its counsel’s
possession reasonably in advance of such consultation. If Licensee fails to provide direction before two (2) weeks prior to a deadline,
Foundation will proceed on its own judgment and, provided that Licensee has received two (2) months’ prior notice of the
deadline, Licensee shall be responsible for costs as if pre-approved. If, by two (2) weeks prior to expiration of a filing deadline,
Licensee elects not to make such payment, Foundation may elect to make such payment at Foundation’s own cost, in which case
Licensee shall have no further rights with respect to said specific patent action, any other Section of this Agreement notwithstanding.

 

	6.4	If Licensee decides that it does not wish to pay for the prosecution or maintenance
of any Patent Rights in a particular country, Licensee shall provide Foundation with prompt written notice of such election. Upon
receipt of such notice by Foundation, Licensee shall be released from its obligation to reimburse Foundation for such expenses
incurred thereafter as to such Patent Rights; provided, however, that expenses authorized prior to the receipt by Foundation of
such notice shall be deemed incurred prior to the notice. In the event of Licensee’s election hereunder to no longer pay
for prosecution or maintenance of any Patent Rights, any license granted by Foundation to Licensee hereunder with respect to such
Patent Rights will terminate, and Licensee will have no rights whatsoever to exploit such terminated Patent Rights. Foundation
will then be free, without further notice or obligation to Licensee, to grant rights in and to such terminated Patent Rights to
third parties in the Field of Use, while Licensee shall retain full rights hereunder with respect to all other patent rights then
within the Patent Rights.

 

ARTICLE 7: INFRINGEMENT

 

	7.1	Either Party shall promptly inform the other Party in writing of any alleged
infringement of the Patent Rights by a third party and shall provide the other Party with any available evidence thereof. Neither
Party shall notify a third party of the infringement of Patent Rights without first consulting with the other Party. Both Parties
shall use reasonable efforts and cooperation to terminate infringement without litigation.

 

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	7.2	During the Term, Licensee shall have the first right, but not the obligation,
to prosecute at its own expense all infringements of the Patent Rights and, in furtherance of such right, Foundation hereby agrees
that Licensee may include Foundation and the Other Institutions as a party plaintiff in any such suit, without expense to Foundation
and the Other Institutions provided, however, that such right to bring such an infringement action shall remain in effect only
for so long as the license granted herein remains exclusive. The total cost of any such infringement action commenced or defended
solely by Licensee shall be borne by Licensee. No settlement, consent judgment or other voluntary final disposition of the suit
may be entered into without the consent of Foundation, which consent shall not unreasonably be withheld. Licensee shall indemnify
Foundation and the Other Institutions against any order for costs that may be made against Foundation or the Other Institutions
in such proceedings.

 

	7.3	In the event that Licensee shall undertake the enforcement and/or defense
of the Patent Rights by litigation, Licensee may withhold up to fifty percent (50%) of the payments otherwise due Foundation under
Article 4 herein and apply the same toward reimbursement of up to half of Licensee’s third-party litigation expenses, including
reasonable attorneys’ fees, in connection therewith. Any recovery of damages by Licensee for each such suit shall be applied
first in satisfaction of any unreimbursed expenses and legal fees of Licensee relating to such suit, and next toward reimbursement
of Foundation for any payments under Article 4 past due or withheld and applied pursuant to this Article 7. Licensee shall receive
sixty percent (60%), and Foundation shall receive forty percent (40%) of the balance of any recovery, damages, or settlement proceeds
after the foregoing allocation is performed.

 

	7.4	If within six (6) months after having been notified of any alleged infringement,
Licensee shall have been unsuccessful in persuading the alleged infringer to desist and shall not have brought and shall not be
diligently prosecuting an infringement action, or if Licensee shall notify Foundation at any time prior thereto of its intention
not to bring suit against any alleged infringer then, and in those events only, Foundation shall have the right, but shall not
be obligated, to prosecute at its own expense any infringement of the Patent Rights, and Foundation may, for such purposes, use
the name of Licensee as party plaintiff.

 

	7.5	In the event that Foundation shall undertake enforcement and/or defense of
the Patent Rights litigation, any recovery, damages or settlement derived from such action shall be applied first in satisfaction
of any unreimbursed expenses and legal fees of Foundation. Foundation shall receive sixty percent (60%), and Licensee shall receive
forty percent (40%) of the balance of any recovery, damages, or settlement proceeds after the foregoing allocation is performed.

 

	7.6	In the event that a declaratory judgment action alleging invalidity or noninfringement
of any of the Patent Rights shall be brought against Licensee, Foundation, at its option, shall have the right, within thirty (30)
days after commencement of such action, to intervene and take over the sole defense of the action at its own expense, provided
that Foundation consults with and keeps Licensee promptly informed regarding such declaratory judgment action.

 

	7.7	In any infringement suit as either Party may institute to enforce the Patent
Rights pursuant to this Agreement, the other Party hereto shall, at the request and expense of the Party initiating such suit,
cooperate in all respects and, to the extent possible, have its employees (and employees of the University) testify when requested
and make available relevant records, papers, information, samples, specimens, and the like.

 

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	7.8	Licensee shall have the sole right in accordance with the terms and conditions
herein to sublicense any alleged infringer for future use of the Patent Rights. Any upfront fees as part of such a sublicense shall
be first be used to reimburse the costs of the Party bringing the infringement action against the infringer and the balance will
be shared with Foundation in accordance with Section 4.l(e); other royalties shall be treated per Article 4.ARTICLE 8: LIABILITIES
AND WARRANTIES

 

	8.1	Licensee represents and warrants that it will comply, and will require that
its Affiliates and sublicensees comply, with all applicable local, state, federal and international laws and regulations relating
to the development, manufacture, use, sale and importation of Licensed Products. Without limiting the foregoing, Licensee represents
and warrants, that is shall comply, and will require its Affiliates and sublicensees to comply, with all applicable United States
laws and regulations controlling the export of certain commodities and technical data, including without limitation all applicable
Export Administration Regulations of the United States Department of Commerce. Among other things, these laws and regulations prohibit
or require a license for the export of certain types of commodities and technical data to specified countries. Licensee hereby
gives written assurance that it will comply with, and will require that its Affiliates and sublicensees comply with, all applicable
United States export control laws and regulations, that it bears sole responsibility for any violation of such laws and regulations
by itself or its Affiliates or sublicensees, and that it will indemnify, defend, and hold the Foundation Indemnitees harmless (in
accordance with Section 8.2) for the consequences of any such violation.

 

	8.2	Licensee shall at all times during the Term and thereafter, indemnify, defend
and hold Foundation, the University and the Other Institutions and their trustees, agents, their directors, officers, employees,
inventors/assignors and Affiliates (collectively, the “Foundation Indemnitees”), harmless against all third-party
claims, proceedings, demands and liabilities of any kind whatsoever, including legal expenses and reasonable attorneys’ fees
(collectively, “Foundation Claims”), arising out of the death of or injury to any person or persons or out of
any damage to property, resulting from the production, manufacture, sale, use, lease, consumption or advertisement of the Licensed
Products by Licensee or its sublicensees or arising from any obligation of Licensee hereunder. The rights and obligations of this
section shall survive termination or expiration of the Agreement with respect to Foundation Claims arising during the Term. Notwithstanding
the foregoing, each of Foundation Indemnitees shall not be entitled to indemnification for any claim, liability, loss, cost, damage,
or expenses to the extent caused by the fraud or willful misconduct of a Foundation Indemnitee or breach of this Agreement by Foundation.

 

	8.3	Foundation shall at all times during the Term and thereafter, indemnify,
defend and hold Licensee, and its, agents, their directors, officers, employees, inventors/assignors and Affiliates (collectively,
the “Licensee Indemnitees”), harmless against all third-party claims, proceedings, demands and liabilities of
any kind whatsoever, including legal expenses and reasonable attorneys’ fees (collectively, “Licensee Claims”),
arising from any obligation of Foundation Indemnitees hereunder. The rights and obligations of this section shall survive termination
or expiration of the Agreement with respect to Licensee Claims arising during the Term. Notwithstanding the foregoing, each of
Licensee Indemnitees shall not be entitled to indemnification for any claim, liability, loss, cost, damage, or expenses to the
extent caused by the fraud or willful misconduct of a Licensee Indemnitee or breach of this Agreement by Licensee.

 

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	8.4	Licensee acknowledges it has or can establish the skill, knowledge, and capability
to develop, produce, manufacture, market, and sell Licensed Products and/or Services.

 

	8.5	Foundation represents and warrants that:

 

		(a)	Foundation Controls the Patent Rights, has been assigned all right, title
and interest of the University in the Patent Rights, and Controls the University’s rights in the Know-How;

 

		(b)	No other party, other than the United States government (pursuant to the
Bayh-Dole Act) or the Other Institutions as described above, has an interest in or right to the Patent Rights;

 

		(c)	Foundation has the right and authority to enter into this Agreement and
to grant the rights and licenses herein granted;

 

		(d)	To the best of Foundation’s knowledge, there are no outstanding assignments,
grants, licenses, encumbrances, obligations or agreements, either written or implied, inconsistent with the rights and licenses
granted to Licensee under this Agreement;

 

		(e)	Foundation has not executed and will not execute any agreement in conflict
herewith and has not granted and will not grant any license rights to the Patent Rights and will not grant any exclusive rights
to the Know-How for the Field of Use;

 

		(f)	To the best of Foundation’s knowledge, the Patent Rights do not infringe
the rights of third parties;

 

		(g)	Foundation’s obligations undertaken under this Agreement are valid and enforceable; and

 

		(h)	To the best of the knowledge of Foundation, without making an inquiry of the
Other Institutions, there are no other invention disclosures or patent filings at or by the Foundation or Other Institutions that
would dominate or would be dominated by the above-mentioned invention disclosures or patent filings with respect to small molecule
inhibitors against picornaviruses, caliciviruses or coronaviruses.

 

	8.6	Nothing in this Agreement shall be construed as: (1) a warranty by Foundation
or the Other Institutions that they can or will be able to obtain patents on patent applications included in the Patent Rights,
or that any of the Patent Rights will afford adequate or commercially worthwhile protection; (2) a warranty or representation that
any or all Patent Rights would be found valid by a court of competent jurisdiction; (3) a warranty or representation that anything
made, used, sold or otherwise disposed of by Licensee under the rights and licenses or sublicenses granted in this Agreement is
or will be free from infringement of patents of third parties (except as expressly provided in Section 8.S(f)); or (4) conferring
by implication or otherwise any license or rights under any patents of Foundation or the Other Institutions other than the Patent
Rights, provided, however, that Foundation shall not invoke any dominant patent or patent application Controlled by the Foundation
to in any way restrict the rights and/or licenses granted to Licensee under this Agreement.

 

	8.7	EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, FOUNDATION, THE
OTHER INSTITUTIONS, THEIR TRUSTEES, AGENTS, DIRECTORS, OFFICERS, EMPLOYEES, INVENTORS/ASSIGNORS AND AFFILIATES MAKE NO REPRESENTATIONS
AND EXTEND NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS
FOR A PARTICULAR PURPOSE, VALIDITY OF PATENT RIGHTS, CLAIMS, ISSUED OR PENDING, AND THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER
OR NOT DISCOVERABLE. NOTHING IN THIS AGREEMENT SHALL BE CONSTRUED AS A REPRESENTATION MADE OR WARRANTY GIVEN BY FOUNDATION OR THE
OTHER INSTITUTIONS THAT THE PRACTICE BY LICENSEE OF THE LICENSE GRANTED HEREUNDER SHALL NOT INFRINGE THE PATENT RIGHTS OF ANY THIRD
PARTY (EXCEPT AS EXPRESSLY PROVIDED IN SECTION 8.S(f). IN NO EVENT SHALL FOUNDATION, THE OTHER INSTITUTIONS, THEIR TRUSTEES, AGENTS,
DIRECTORS, OFFICERS, EMPLOYEES, INVENTORS/ASSIGNORS AND AFFILIATES OR LICENSEE AND ITS AFFILIATES AND SUBLICENSEES BE LIABLE FOR
INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY KIND, INCLUDING ECONOMIC DAMAGE OR INJURY TO PROPERTY AND LOST PROFITS, REGARDLESS OF
WHETHER FOUNDATION OR LICENSEE SHALL BE ADVISED, SHALL HAVE OTHER REASON TO KNOW, OR IN FACT SHALL KNOW OF THE POSSIBILITY.

 

    	12

    	 

    

 

ARTICLE 9: NON-USE
OF NAMES

 

	9.1	Licensee shall not use the names or trademarks of the University, Foundation
or the Other Institutions, nor any adaptation thereof, nor the names of any of their employees, unless said employee is or was
also an employee of Licensee, in any advertising, promotional or sales literature without prior written consent obtained from the
University, Foundation, the Other Institution or said employee, in each case; except that Licensee may state that it is licensed
by Foundation, including on behalf of the Other Institutions, under one or more of the patents and/or applications comprising the
Patent Rights.

 

	9.2	Foundation, the University and the Other Institutions shall not use the
names or trademarks of Licensee, nor any adaptation thereof, nor the names of any of its employees, in any advertising, promotional
or sales literature without prior written consent obtained from Licensee, in each case; except that Foundation and the Other Institutions
may state that they have licensed Licensee under one or more of the patents and/or applications comprising the Patent Rights, to
the extent required or affirmatively permitted under policies of Foundation, the University or the Other Institutions or state
statute or regulation.

 

ARTICLE 10: GOVERNMENTAL
MATTERS

 

	10.1.	If this Agreement or any associated transaction is required by the law of
any nation to either be approved or registered with any governmental agency, Licensee shall assume all legal obligations to do
so. Licensee shall notify Foundation if it becomes aware that this Agreement is subject to a United States or foreign government
reporting or approval requirement. Licensee shall make all necessary filings and pay all costs including fees, penalties, and all
other out-of-pocket costs associated with such reporting or approval process.

 

	10.2.	Licensee shall observe all applicable United States and foreign laws with respect
to the transfer of Licensed Products and related technical data to foreign countries, including without limitation, the International
Traffic in Arms Regulations and the Export Administration Regulations.

 

    	13

    	 

    

 

ARTICLE 11: TERMINATION

 

	11.1.	Either Party may terminate this Agreement immediately upon filing or institution
by or against the other Party of bankruptcy, reorganization, liquidation or receivership proceedings (unless any involuntary proceeding
that is filed or instituted against the other Party is not dismissed within ninety (90) days), or upon an assignment of a substantial
portion of the assets for the benefit of creditors by either Party.

 

	11.2.	Should Licensee fail to make any payment whatsoever due and payable to Foundation,
Foundation shall have the right to terminate this Agreement effective on thirty (30) days’ written notice, unless Licensee
shall make all such payments to Foundation within said thirty (30) day period or unless Licensee is contesting in good faith the
obligation to make the payment. Upon the expiration of the thirty (30) day period, if Licensee shall not have made all such payments
to Foundation or is not contesting in good faith the obligation to make the payment, the rights, privileges and license granted
shall automatically terminate. Obligations and payments due at the time of termination shall survive termination.

 

	11.3.	Upon any material breach or default of any of the provisions of this Agreement
by Licensee other than those occurrences set out in Sections 11.1 and 11.2 hereinabove, which shall always take precedence in that
order over any material breach or default referred to in this Section 11.3, Foundation shall have the right to terminate this Agreement
and the rights, privileges and license granted hereunder effective on ninety (90) days written notice to Licensee. Such termination
shall become automatically effective unless Licensee shall have cured any such material breach or default prior to the expiration
of the ninety (90) day period and informed Foundation thereof in writing.

 

	11.4.	Licensee shall have the right to terminate this Agreement at any time on
thirty (30) days’ notice for futility, or on ninety (90) days’ notice for any reason to Foundation, and upon payment
of all amounts due Foundation through the Effective Date of the termination.

 

	11.5.	Upon any material breach or default of any of the provisions of this Agreement
by Foundation, Licensee shall have the right to terminate this Agreement effective on sixty (60) days’ written notice to
Foundation. Such termination shall become automatically effective unless Foundation shall have cured such breach prior to the expiration
of the sixty (60) day period and informed Licensee thereof.

 

	11.6.	Upon termination of this Agreement for any reason, nothing herein shall be
construed to release either Party from any obligation that matured prior to the Effective Date of such termination; and Articles
1, 8, 11, and 13 shall survive any such termination. Licensee and any sublicensee thereof may, however, for up to six (6) months
after the effective date of such termination, sell all Licensed Products, and complete Licensed Products in the process of manufacture
at the time of such termination and sell the same, provided that Licensee shall make the payments to Foundation as required by
Article 4 and Article 6 of this Agreement and shall submit the reports required by Article 5 hereof. Upon expiration of the Term
of this Agreement (but not earlier termination), the nonexclusive license granted pursuant to Section 2.2 shall survive.

 

	11.7.	Upon termination of this Agreement for any reason other than by Licensee pursuant to Section 11.4 or 11.5, any sublicensee
not then in default shall have the right to have its sublicense become a direct license from Foundation upon the terms hereof,
as further limited in scope, field and terms set forth in the original sublicense, if the sublicensee pays Foundation all amounts
Foundation would have received from Licensee with respect to the sublicense if this Agreement had not been terminated.

 

    	14

    	 

    

 

ARTICLE 12: NOTICES

 

Any notice,
payments, or reporting required to be given under this Agreement shall be deemed to have been sufficiently given, if mailed by
Certified Mail, postage prepaid, or by special courier, addressed to the Party to be notified at its address shown below, or at
such other address as may later be furnished in writing to the notifying Party.

 

In the case of Foundation:

 

Attention: President

Kansas State University Research
Foundation 

2005 Research Park Circle

Manhattan, Kansas 66502

[*]

 

In case of Licensee:

 

Attention: President

Cocrystal
Pharma, Inc.

19805 North Creek Parkway

Bothell, WA 98011

[*]

 

ARTICLE 13. CONFIDENTIALITY

 

	13.1.	The Parties agree to hold in confidence all Confidential Information; to
not disclose any Confidential Information to any third party, to use Confidential Information solely for the purposes of this Agreement,
and to disclose such Confidential Information only to individuals within receiving Party’s organization that are directly
involved with the Agreement on a need-to know basis, except as set forth in Sections 13.2 and 13.3.

 

	13.2.	Each Party receiving or having access to Confidential Information from the
other Party, whether in oral, written, graphic, computer-generated, or any other form,
shall exercise due care to prevent its unauthorized disclosure. “Confidential Information” hereunder shall not include
or information that:

 

		(a)	is or becomes publicly known through no wrongful act, omission or fault of
the receiving Party;

 

		(b)	the receiving Party can reasonably demonstrate is already in the possession
of the receiving Party as a matter of right;

 

    	15

    	 

    

 

		(c)	is received after the date hereof from a third party without restriction
and without breach of this Agreement; or

 

		(d)	is independently developed by the receiving Party as evidenced by its records
kept in the ordinary course of business.

 

Nothing
herein shall be interpreted to prohibit Licensee from publishing the results of its studies with respect Licensed Products in accordance
with industry practices or from disclosing Foundation’s Confidential Information to third parties that Licensee deems necessary
or advisable in the ordinary course of business on the condition that such third parties agree to be bound by confidentiality and
non-use obligations that substantially are no less stringent than those confidentiality and non-use provisions contained in this
Agreement.

 

	13.3.	The receiving Party may disclose Confidential Information received from
the disclosing Party if it is required to be disclosed pursuant to law or regulation or an order or requirement of a competent
court, administrative agency, or other governmental body, provided that the receiving Party: (i) uses reasonable efforts to disclose
no more of the received Confidential Information than is necessary to comply with such requirement; and (ii) to the extent permitted
promptly notifies the disclosing Party of such requirement so that the disclosing Party may seek a protective order or other remedy.

 

	13.4.	Unless otherwise specified in writing, all Confidential Information remains
the disclosing Party’s property. Upon termination or expiration of this Agreement and request of the disclosing Party, the
receiving Party agrees to return or destroy all Confidential Information received from the disclosing Party, except for one copy,
which the receiving Party may keep solely to monitor its obligations under this Agreement.

 

	13.5.	The secrecy obligations of Company with respect to Confidential Information
shall continue for a period ending five (5) years from the termination date of this Agreement.

 

	13.6.	Foundation shall not, and shall cause the University, not to, publish any
information pertaining to the Patent Rights or Know-How that could constitute Confidential Information of Foundation or the University
without first providing Licensee a copy of the proposed publication or any modification thereof at least thirty (30) days prior
to the proposed publication. Licensee may request a reasonable delay in publication or presentation in order to protect patentable
information. If Licensee requests a delay to protect patentable information, Foundation or the University will delay the proposed
submission for publication for a period not to exceed thirty (30) days to enable a filing with the patent office to protect such
information. Upon expiration of such thirty (30) days, Foundation or the University will be free to proceed with submitting the
proposed publication.

 

ARTICLE 14: MISCELLANEOUS
PROVISIONS

 

	14.1	This Agreement shall be construed, governed, interpreted and applied in accordance
with the laws of the State of Kansas, without giving effect to any choice or conflict of law provision, except that questions affecting
the construction and effect of any patent shall be determined by the law of the country in which the patent shall have been granted.

 

    	16

    	 

    

 

	14.2	The Parties hereto
acknowledge that this Agreement sets forth
the entire Agreement and understanding
of the Parties hereto as to
the subject matter hereof and
shall not be subject to any change
or modification except by the execution of
a written instrument subscribed to by the
Parties hereto.

 

	14.3	This Agreement may not be assigned by either
Party without the written
consent of the other, which consent shall not be unreasonably withheld, except that
each Party may, without such consent,
assign this Agreement and the rights, obligations
and Interests of such Party to any
purchaser of all or substantially all of its asset s or all of its equity, or to any successor corporation resulting from any merger
or consolidation of such Party with or into such corporation; provided, in
each case, that the assignee agrees
in writing to be bound by the terms of this
Agreement. Any assignment purported or at tempted to be made in violation of the terms
of this Section 14.3 shall be null and
void and of no legal effect.

 

	14.4	The provisions
of this Agreement are severable, and in the event that any provisions of this
Agreement shall be determined to be invalid or unenforceable under any controlling body of
the law, such invalidity or unenforceability shall not in any way affect the validity
or enforceability of the remaining provisions
hereof.

 

	14.5	The failure of either Party to assert a right hereunder
or to insist upon compliance with any term or condition of this Agreement shall not
constitute a waiver of that right or excuse a similar subsequent failure to perform
any such term or condition by the other Party.
	 	 
	14.6	This
Agreement is the joint product of the Parties hereto and their respective counsel. Each provision hereof has been subject to the
mutual consultation, negotiation, and agreement of the Parties and shall not be construed for or against either Party hereto on
the basis of authorship thereof.

 

IN WITNESS WHERE
OF, the Parties hereto have executed this Agreement by proper persons thereunto duly authorized as of the Effective Date.

 

	Cocrystal Pharma, Inc.	 	Kansas State University Research
	 	 	Research Foundation
	 	 	 
	By:	/s/ Sam Lee	 	By:	/s/ Kent Glasscock
	Name:	Sam Lee	 	Name:	Kent Glasscock
	Title:	President	 	Title:	President and CEO
	Date:	April 17, 2020	 	Date:	April 19, 2020

 

    	17

    	 

    

 

APPENDIX A - PATENT FEES

 

[*]

 

    	 

     

    

 

APPENDIX
B - ROYALTY REPORT FORM

Please
also complete a separate form for each Affiliate and sublicensee for each product sold.

 

	Submitted
    by:	(Cocrystal
    Pharma, Inc.)

 

	Submit
    to:	Kansas
    State University Research Foundation
	 	 
	Report
    Period:	Beginning
    date: __________________	Ending
    date: __________________

 

 

	Product
Number and Description
	 
	 
	 

 

Licensee
submits the following royalty report for the period indicated above.

 

	 	A.	Annual
    License Maintenance Fee due for this license year	 	 	$	                          
	 	 	 	 	 	 	 
	 	B.	Less
    royalties previously paid this license year	 	 	 	 
	 	 	 	 	 	 	 
	 	 	(1)
    January – March	$                          	 	 	 
	 	 	 	 	 	 	 
	 	 	(2)
    April – June	$                          	 	 	 
	 	 	 	 	 	 	 
	 	 	(3)
    July – September	$                          	 	 	 
	 	 	 	 	 	 	 
	 	 	(4)
    October - December	$                          	 	 	 
	 	 	 	 	 	 	 
	 	 	(5)
    Total payments to date	 	 	$	(                          )
	 	 	 	 	 	 	 
	 	C.	REPORT
    PERIOD	 	 	 	 
	 	 	 	 	 	 	 
	 	 	(1)
    Units of product sold	                            	 	 	 
	 	 	 	 	 	 	 
	 	 	(2)
    Sales price per unit	$                          	 	 	 
	 	 	 	 	 	 	 
	 	 	(3)
    Gross sales of product (1 x 2)	$                          	 	 	 
	 	 	 	 	 	 	 
	 	 	(4)
    Less allowable deductions	$(                         )	 	 	 
	 	 	 	 	 	 	 
	 	 	(5)
    Net Sales of product sold (3 – 4)	$                          	 	 	 
	 	 	 	 	 	 	 
	 	 	(6)
    Running royalty rate	                            	 	 	 
	 	 	 	 	 	 	 
	 	 	(7)
    Royalty payment due this period (5 x 6)	$                          	 	$	(                          )
	 	 	 	 	 	 	 
	 	(Enclose remittance made payable to Kansas State University Research Foundation)	 	 	 
	 	 	 	 	 	 	 
	 	D.	Remaining
    Annual License Maintenance Fee due: (A – B(5) –C(7))	 	 	$	                          

 

	 	For
    Office Use Only	 	 	 
	 	 	 	 	 
	 	 	 	Authorized
                                         Signature
	 
	 	 	 	 	 
	 	 	 	Printed
                                         Name, Title
	 
	 	 	 	 	 
	 	Account
    no. – Disc. no. 	 	 	 	Date
	 
	 	Check
    number	 	 	 	 	 
	 	Check
    dateExhibit 10.1

 

[Certain identified information has been
excluded from the exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed]

 

LICENSING AGREEMENT

 

This LICENSING AGREEMENT (the “Agreement”)
is entered into by and between SONOMA PHARMACEUTICALS, inc., a corporation
incorporated under the laws of Delaware hereinafter referred to as “Licensor” and MicroSafe Group DMCC,
an organization under the laws of the United Arab Emirates, hereinafter referred to as “Licensee” (all Parties
jointly referred to as the “Parties”) as of July 27, 2020 (the “Effective Date”).

 

WHEREAS, Licensor is the sole
holder of any and all right, title and interest in and to Licensor Intellectual Property and Know-how related to the Licensed Products
(as such term is defined below).

 

WHEREAS, Licensee wishes to obtain from
Licensor a non-exclusive license to commercialize the licensed products in the Territory pursuant to the terms hereunder.

 

WHEREAS, Licensor and Licensee entered
into an asset purchase agreement for the sale of certain disinfectant, wound care and animal health care product rights and assets
for the Middle East and disinfectant rights and assets for the European and Australian markets and the exclusive right to sell
hard surface disinfectant products in certain territories in Europe and Australia dated February 21, 2020 (the “Asset
Purchase Agreement”).

 

WHEREAS, Licensor and Licensee seek to
obtain regulatory approval from the U.S. Environmental Protection Agency (“EPA”) for the Licensed Product for
the claim that the Licensed Product fights certain viruses;

 

The Parties hereby, in consideration of
the foregoing and the representations, warranties, covenants and agreements contained herein, intending to be legally bound, agree
on the following:

 

CLAUSES

 

FIRST. Definitions.

 

1.01       For
all purposes of this Agreement, unless the context otherwise requires, the following definitions shall apply and shall include
the plural as well as the singular:

 

“Affiliate” means
with respect to any Person or entity (i) any other Person or corporation directly or indirectly controlling, controlled by, or
under common control with a Party to this Agreement or (ii) any partnership, joint venture, or other entity directly or indirectly
controlled by, controlling, or under common control with, a Party to this Agreement, but in each case only for so long as such
ownership or control shall continue. For purposes of this definition, the term “control” as applied to any Person or
entity means the possession, directly or indirectly, of the power to direct or cause the direction of the management of that Person
or entity, whether through ownership of voting securities or otherwise.

 

“Agreement” means
this Licensing Agreement, together with the exhibits hereto, and any certificate, Consent, representation, instrument or any other
document executed and delivered pursuant to the provisions hereunder.

 

 

 

 

    	 	1	 

     

    

 

“Applicable Laws”
means all applicable provisions of all (i) constitutions and treaties subscribed by any Governmental Authority; (ii) all statutes,
laws (whether federal, state or local law (including the common and civil law)), codes, rules, regulations, ordinances or orders
of any Governmental Authority, (iii) orders, decisions, injunctions, judgments, awards and decrees of or agreements with any Governmental
Authority and (iv) any administrative rule or order of general application issued by any Governmental Authority.

 

“Business Day”
means a day (excluding Saturdays, Sundays and public holidays) on which banks are generally open for business in the United States
for the transaction of normal banking business.

 

“Claim”
means any and all litigation, claims, demands, actions, causes of action, suits, injunctions, judgments, decrees, settlements,
investigations, proceedings (administrative, arbitral, mediated or otherwise) and audits of any nature (other than audits voluntarily
performed in the ordinary course of business).

 

“Commercialize”
means all activities undertaken relating to the use, pre-marketing, marketing, sale, distribution, and import of the Licensed
Product.

 

“Consent” means
any consent, approval, authorization or similar affirmation by or notice to any Person under any agreement, Applicable Law or Governmental
Authorization.

 

“Confidential Information”
has the meaning set forth in Section 12 of this Agreement.

 

“Dollars”
or “US$” means United States of America dollars.

 

“EPA” means
the United States Environmental Protection Agency.

 

“Equipment”
means the equipment described in the Exhibit 2.

 

“Field” means
hard surface disinfectant use.

 

“Governmental Authority”
means any federal, state or public authority, domestic or foreign, exercising governmental powers and having jurisdiction in connection
with this Agreement; and all statutes, laws, ordinances, regulations, orders, decrees, permits, licenses approvals, writs, process
and rules issued thereby that may operate in connection with this Agreement.

 

“Governmental Approvals”
means, with respect to the Licensed Products, any and all approvals (including applications and supplements and amendments thereto),
licenses, product registrations (except manufacturing establishment registrations) permits, orders, certificates, approvals or
other similar authorization of any Governmental Authority solely related to the Products and necessary to commercially distribute,
sell or market such Product in the Territories.

 

“Governmental Order”
shall mean any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental
Authority.

 

“Intellectual Property”
means all intellectual property rights worldwide arising under statutory or common law or by contract and whether or not perfected,
now existing or hereafter filed, issued, or acquired, including all (a) patent, (b) Know-how, (c) rights associated with works
of authorship including copyrights and mask work rights, (d) trademarks, (e) trade secrets, and (f) any right analogous to those
set forth herein and any other proprietary rights relating to intangible property.

 

 

 

 

    	 	2	 

     

    

 

“Know-how”
means (a) techniques, data and information relating to the Microcyn Technology or the Licensed Products , including but not limited
to, inventions, practices, methods, manufacturing processes, knowledge, know-how, skill, trade secrets, experience, test data (including
pharmacological, toxicological, and clinical test data), data, records, and information derived from studies, regulatory submissions,
adverse reactions, analytical and quality control data, marketing, pricing, distribution, cost, sales and manufacturing data or
descriptions, and (b) compound compositions of matter and assays relating to the Microcyn technology or the Licenses Products.

 

“Label” or
“Labelling” means all labels and other written, printed or graphic matter upon the Licensed Products or any
container or wrapper utilized with a Licensed Product, and/or any written material accompanying a Licensed Product, including without
limitation, package inserts.

 

“Law” means
any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment, decree, other requirement
or rule of law of any Governmental Authority.

 

“Licensed Products”
means the products listed in Exhibit 1.

 

“Microcyn Technology”
means Licensor’s patented performance stabilized hypochlorous acid technology.

 

“Party” means
each of the Licensor and/or Licensee, as the context so requires, or Licensor and Licensee jointly.

 

“Permitted Use”
means the use in accordance with applicable Product label claims.

 

“Person” means
any individual, partnership, limited partnership, limited liability company, joint venture, syndicate, sole proprietorship, corporation,
unincorporated association, trust, trustee, executor, administrator or other legal personal representative, or any other legal
entity, including a government or political subdivision, department or agency of a government.

 

“Tax” means
all federal, state, local, foreign and other income duties as provided by applicable laws together with any interest, additions
or penalties with respect thereto and any interest in respect of such additions or penalties.

 

“Term” means
the term of this Agreement as defined in Section 7.01.

 

“Territory”
means the Unites States of America.

 

“Third Party”
means any Person other than Licensor or Licensee, their respective Affiliates and permitted successors and assigns.

 

“Trademarks”
means any trademarks, logos or other words or symbols identifying or making reference to the products, services or technology of
a Party used in its business or its Affiliates.

 

“Transfer Price”
means the prices listed in Exhibit 3.

 

1.02       Construction.
Except where the context otherwise requires, wherever used, the singular includes the plural, the plural the singular, the use
of any gender shall be applicable to all genders. The captions of this Agreement are for convenience of reference only and in no
way define, describe, extend or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement.
Except as otherwise specifically indicated, all references to Exhibit numbers refer to Exhibits of this Agreement, and all references
to Exhibits refer to Exhibits attached hereto and incorporated herein. The words “herein”, “hereof”, “hereinafter”,
“hereunder”, and words of similar import refer to this Agreement as a whole and not to any particular Exhibit hereof.
The term “including” as used herein means including, without limiting the generality of any description preceding such
term. The language of this Agreement shall be deemed to be the language mutually chosen by the Parties and no rule of strict construction
shall be applied against any Party.

 

 

 

 

    	 	3	 

     

    

 

SECOND. Grant of License.

 

2.01       As
of the Effective Date of this Agreement, Licensor hereby grants to Licensee the non-exclusive right and license under the Licensor
Intellectual Property and the Licensor Know-how to sell and Commercialize the Licensed Product solely using the Equipment in the
Territory and within the Field during the Term of this Agreement (the “License”). For the purpose of clarity,
under no circumstances, do the Parties intend to transfer any Intellectual Property.

 

2.02       Licensee
shall be permitted to grant sublicenses only with the prior written approval of Licensor. Each sublicense agreement shall be in
writing and shall contain obligations of the Third Party materially similar to the obligations of Licensee hereunder, and no less
favourable to Licensor’s rights than the provisions contained in this Agreement. Licensee shall be liable to Licensor for
acts or omissions of any sublicensee not in conformity with the terms of this Agreement or any agreement between Licensee and any
sub-licensee. In any case, any sublicense agreement signed by Licensee shall include a section providing that Licensor shall authorize
the terms and conditions of any such sublicense agreement within the following ten (10) Business Days after execution. If Licensor
does not grant such authorization, the sublicense agreement may not enter into effect and shall be null and void. Licensee shall
deliver to Licensor an original of any such sublicense agreement duly signed by the Parties, within ten (10) calendar days after
signature so that Licensor may grant its authorization; if such authorization is not given in writing with the referred term, the
authorization shall be considered as withheld. Licensee shall remain liable for all the work, acts and omissions of the sublicenses
or Third Parties, including compliance with the terms of this Agreement. No use of any sublicensee or Third Party will release
Licensee from its responsibilities and liabilities under this Agreement, including, but not limited to, its indemnification obligations.
Licensor shall have to right to request that Licensee terminate any sublicense upon discovery of any violation of this Agreement.

 

2.03       The
License is limited to and may be exercised by Licensee and/or its permitted sublicensees solely for the purpose of Commercializing
the Licensed Product in the Territory for the Permitted Use in the Field during the Term of this Agreement.

 

2.04       Except
for those licenses expressly granted pursuant to this Section 2, each of the Parties acknowledges and agrees that no other license
is granted, by implication or otherwise.

 

THIRD. Regulatory Approvals.

 

3.01       Licensor
shall be solely responsible to prepare, file and maintain the Approval Applications with the EPA for the Licensed Product in the
Field in the Territory, including preparing all reports necessary as part of the Approval Applications. Licensor shall be solely
responsible to interact with and correspond with the EPA. Licensor shall use commercially reasonable efforts to file the Approval
Applications for the Licensed Product in due time.

 

3.02       Promptly
after the Effective Date, Licensee shall disclose and provide to Licensor all Know-how that is available to Licensee and required
to file the Approval Applications with the EPA, in particular the data underlying the Australian register for therapeutic goods
designation of Nanocyn. Licensee shall provide Licensor with reasonable support directed towards securing and maintaining the Regulatory
Approvals.

 

3.03.       Licensee
shall pay the fees and expenses for the Approval Applications, including filing, registration and any required testing fees. If
Licensor prepays or pays such fees or expenses, it shall be reimbursed by Licensee within 30 calendar days.

 

3.04       Licensor
shall be the legal and beneficial owner of the Approval Application and related Regulatory Approvals in the Territory.

 

 

 

 

    	 	4	 

     

    

 

FOURTH. Commercialization.

 

4.01       Licensee
shall have the non-exclusive right to Commercialize the Licensed Product in connection with the Equipment, either by itself or
through its Affiliates or Third Parties, subject to compliance with Section 2.02, in the Field in the Territory during the Term
of the Agreement. Licensee shall use commercially reasonable efforts to Commercialize Licensed Products in connection with the
Equipment in the Field in the Territory, as soon as Regulatory Approvals have been obtained. Licensee shall determine the pricing
for the Licensed Product and the Equipment at its sole discretion.

 

4.02          
Licensee agrees to ascertain and materially comply with all Applicable Laws and standards of industry or professional conduct
in connection with the Commercialization of the Licensed Products; including, without limitation, those applicable to product claims,
Labelling, approvals, registrations and notifications. Licensee agrees to work with Licensor to market and Label the Licensed Product
consistent with all applicable regulatory Label Claims. Licensee shall not, and shall cause its Affiliates and sublicensees not,
to make any representations or warranties relating to the Licensed Product except for those representations contained in this Agreement.
Licensee agrees not to make, and agrees to cause its Affiliates and sublicensees not to make, any representation or warranty, whether
oral or in writing, regarding the Licensed Product that is not consistent with the Label Claims authorized in the Territory. Licensee
will pay Licensor a fee of U.S.$[___] to cover the cost of label design and printing and to ensure such labelling complies with
U.S. law. Subsequent design changes whether due to changes in marketing or changes in legal compliance may incur additional fees.
If Licensor determines the label needs to be modified for legal reasons whether it is a change in law or a change in other situations
such as a change in the U.S. regulatory clearances, Licensor shall charge Licensee the actual costs of changing such label.

 

4.03          
Neither Licensee nor any of its Affiliates, either directly or through Third Parties, will knowingly supply Licensed Products
to any customer outside the Field or outside the Territory or to any customer in the Territory for resale outside the Territory,
unless permitted by the Asset Purchase Agreement. If Licensed Products are sold outside of the Territory and such breach of this
contract is not cured in 30 calendar days following written notice to Licensee, Licensor will have the right to terminate this
Agreement including fees paid pursuant to this Agreement.

 

4.04          
Licensor shall have the non-exclusive right to Commercialize the Licensed Product, either by itself or through its Affiliates
or Third Parties in the Field in the Territory and outside the Territory, except where Licensee holds an exclusive license under
the Asset Purchase Agreement.

 

4.05          
If Licensor enters into a licensing agreement for the right to Commercialize the Licensed Product in the Field in the Territory
with a Third Party not already utilized as a sublicensee by Licensee (a “Third Party Licensing Agreement”),
during the period that is five years following the execution of this Agreement, Licensee shall receive a [___] percent commission
on any up-front lump-sum payment excluding any payment or part of a payment that relates to Licensor’s set up fees or covering
Licensor’s regulatory compliance costs. If Licensor enters into an exclusive Third Party Licensing Agreement, Licensee shall
also receive a [___] percent commission on any net revenue collected by Licensor during the Term under any such Third Party Licensing
Agreement. Net revenue shall exclude returns and credits for any reason including recalls and contractual allowances. Net revenue
shall also exclude bad debts. Licensor shall pay such any commissions within 60 calendar days of receiving payment. For the avoidance
of doubt, no payments under this Section shall be due to Licensee for any Third Party Licensing Agreements entered into by Licensor
after the expiration of the Term of this Agreement, whether or not the Third Party Licensing Agreement was entered into before
the expiration of such Term or not. Additionally, there is a cap of $1,000,000 that can be received by Licensee under this Section
covering in aggregate all fees due under this Section.

 

 

 

 

    	 	5	 

     

    

 

FIFTH. Supply of Products.

 

5.01          
Licensor shall supply Licensee with the Licensed Product for Commercialization in the Territory from time to time. Licensor
shall not be liable for non-performance or delay in performance to supply Licensed Products caused by any event reasonably beyond
the control of Licensor, including, but not limited to wars, hostilities, revolutions, riots, civil commotion, national emergency,
strikes, lockouts, epidemics, fire, flood, earthquake, force of nature, explosion, embargo, pandemic or any other Act of God, or
any law, proclamation, regulation, ordinance, or other act or order of any court, government or governmental agency.

 

5.02          
Licensee shall pay the Transfer Prices detailed in Exhibit 3 for all Licensed Products shipped to Licensee. If a
tariff, tax, duty or other fee (the “Tariff”) is imposed on the delivery any of the Licensed Products to Licensee,
the Transfer Prices shall increase by the actual cost of such Tariff.

 

5.03          
All Transfer Prices are exclusive of any taxes, shipping expenses, and insurance. Licensee shall pay to Licensor the Transfer
Prices by wire transfer within thirty (30) calendar days after each Licensed Product delivery date. Licensor shall have the right
to charge Licensee interest on late payments. Interest shall accrue at a rate of 5% on an annual basis. Should Licensor need to
take action to collect past due amounts, Licensee shall reimburse Licensor for any actual expenses incurred in the collection,
including reasonable attorney’s fees.

 

5.04          
Licensee shall order Licensed Products at least eight (8) weeks prior to scheduled delivery by written purchase orders which
shall be expressly accepted by OTM. No shipments will be made without a written purchase order. Purchase orders shall be sent directly
to Licensor’s subsidiary Oculus Technologies de Mexico (“OTM”). There shall be no returns of any Licensed
Products, except for any Licensed Products damaged during shipping. Licensee shall notify Licensor in writing of any such damages
and obtain authorization to return damaged Licensed Products to OTM. Licensor shall ensure that such authorization shall not be
unreasonably withheld by OTM. Licensor, at its sole discretion, shall either credit Licensee for damaged Licensed Products or send
replacement Licensed Products.

 

5.05          
Location of manufacturing of Licensed Products by OTM and delivery of such Licensed Products shall be FCA Oculus Technologies
de Mexico, Industria Vidriera 81, Zapopan Industrial Norte, Zapopan, Jalisco, 45135, Mexico (Incoterms 2010). Licensor may relocate
manufacturing of the Licensed Products to another location at any time, provided that the new manufacturing facility has the same
registrations and approvals as the current facility.

 

5.06          
On each anniversary of the Effective Date, the Parties shall renegotiate the Transfer Prices within thirty (30) calendar
days in good faith. The Transfer Price shall be increased for (a) any change in actual cost of goods produced, (b) by the percentage
change based on the U.S. Producer price index – final demand goods published by the Bureau of Labor Statistics for the period
from the Effective Date through each subsequent 12 months-period, respectively, and (c) the actual cost of any Tariff or other
tax imposed on Licensor if not already applied pursuant to Section 5.02. Notwithstanding the foregoing, the parties agree that
maximum annual increase in the Transfer Price of a Licensed Product shall be capped at [___]%.

 

SIXTH. Ownership of Intellectual
Property.

 

6.01       Licensor
shall retain and own all right, title and interest in and to its Intellectual Property.

 

6.02       Licensor
shall have the sole responsibility and obligation to prosecute, defend and maintain existing Intellectual Property against all
infringements and alleged infringements in the Territory.

 

 

 

 

    	 	6	 

     

    

 

6.03       Each
Party will own all right, title, and interest in and to the inventions made solely by its employees or agents.

 

6.04       The
Parties will jointly own all right, title, and interest in and to the inventions made jointly by the employees or agents of each
Party (“Joint Inventions”). Subject to the terms of this Agreement, the Parties will negotiate in good faith
a policy for protecting (including patent prosecution) and exploiting (including sharing of any related revenues) the Joint Inventions,
whether by way of licensing or by establishment of a related business relationship. Unless the Parties otherwise agree and except
as otherwise expressly provided in this Agreement, neither Party will have any obligation to account to the other for profits,
or to obtain the other Party’s approval to license or exploit any Joint Invention. Authorship, inventorship, and other indicia
of which Party developed an Invention will be determined in accordance with United States intellectual property laws in effect
at the time of development.

 

SEVENTH. Term and Termination.

 

7.01       Term.
The term of this Agreement shall be of five years (5) from the Effective Date (the “Term”).

 

7.02       Termination.
Either Party may terminate this Agreement upon material breach that is subject to cure that is not cured within thirty (30) calendar
days of written notice of breach (the “Cure Period”). Such termination shall be without prejudice to the terminating
Party’s claims for damages, reimbursement indemnification for the losses incurred by reason of such termination or non-compliance
of the Agreement and, as the case may be, payment of liquidated damages in accordance with that provided herein.

 

7.03       In
the event any Party is legally declared in bankruptcy, insolvency, moratorium of payment, reorganization or liquidation, or if
either Party makes any assignment for the benefit of its creditors, then this Agreement may be, to the extent permitted under applicable
law, terminated forthwith by the other Party through written notice to the other Party subject to proceedings covered by this Section
of the Agreement.

 

7.04       In
the event that any of the representations and warranties expressed by the Parties in Section 8 of this Agreement or in any other
of its Sections, is incorrect, false, fraudulent, negligent, incomplete or misleading or in any manner whatsoever, then this Agreement
may be terminated forthwith by the other Party through written notice to the other Party.

 

7.05       Except
to the extent expressly provided to the contrary, the following provisions shall survive the termination of this Agreement: Section
6, Section 11, Section 12 and Section 13.

 

EIGHTH. Representations and Warranties.

 

8.01       Mutual
Representations. Licensor and Licensee hereby individually represent and warrant the following:

 

(a) Each of them is a corporation duly
organized, validly existing and in good standing under the laws of the jurisdiction of its formation;

 

(b) Each of them has the legal power and
authority to enter into and be bound by the terms and conditions of this Agreement and to perform its obligations under this Agreement;

 

(c) Each of them has taken all necessary
action on its part to authorize the execution and delivery of this Agreement. This Agreement has been duly executed and delivered
on behalf of them and constitutes a legal, valid, binding obligation, enforceable against each of them in accordance with its terms;

 

(d) Each of them is not object to any legal,
contractual or other restrictions, limitations or conditions which conflict with its rights and obligations under this Agreement
or which might affect adversely its ability to perform under this Agreement;

 

 

 

 

    	 	7	 

     

    

 

(e) To the best of their knowledge, there
are no investigations, adverse Third Party allegations, claims or actions against them, including any proceedings or any pending
or threatened action against any of them by or before any Government Authority, relating to the Licensed Product;

 

(f) The execution and delivery of this
Agreement will not (i) violate the certificate of formation, operating agreement, certificate of incorporation, by-laws or any
other organizational document of each of them, (ii) conflict with or result in a violation or breach of, or constitute a default
under, any contract, agreement or instrument to which any of them is a party or by which any of them are bound, or result in the
creation or imposition of any lien upon any of Intellectual Property, or (iii) violate or conflict with any law, rule, regulation,
judgment, order or decree of any court applicable to each of them;

 

(g) As of the Effective Date there are
no claims pending or, to its knowledge, threatened against it or any of its Affiliates by any Third Party, which might affect adversely
its ability to perform under this Agreement. It has not been notified of, nor does it have knowledge of, any circumstances or set
of circumstances that would put it in any such situation.

 

(h) The Parties understand and agree to
comply with the U.S. Foreign Corrupt Practices Act, as revised, which prohibits the promise, payment or giving of anything of value
either directly or indirectly to any government official for the purpose of obtaining or retaining business or any improper advantage.
For purposes of this Section, “government official” means:

 

i. any official, officer, representative,
or employee of, including any doctor employed by, any non-U.S. government department, agency or instrumentality (including any
government-owned or controlled commercial enterprise), or

 

ii. any official of a public international
organization or political party or candidate for political office.

 

The Parties shall furthermore ensure that
their Affiliates which have rights or obligations under this Agreement understand and agree to comply with the U.S. Foreign Corrupt
Practices Act, as revised with regard to activities performed under this Agreement.

 

(i) The Parties, its Affiliates and its
shareholders are not engaged or in any manner whatsoever related to illegal or illicit acts or activities and that the financial
resources used for the compliance of the obligations undertaken hereunder derive from legal activities and sources. The Parties
further represent that they are in full compliance with all applicable laws, rules and regulations that are applicable to their
activities.

 

8.02       Licensor’s
Representations. Licensor hereby represents and warrants the following:

 

(a) There are no claims pending or threatened
against Licensor or any of its Affiliates or current distributors or licensees by any Third Party with respect to ownership, validity
or enforceability of any of the Intellectual Property in the Territory. Licensor represents that it has not been notified of, nor
does it have knowledge of, any circumstances or set of circumstances that would put Licensor on notice that use of any of the Intellectual
Property is subject to contest in the Territory.

 

(b) Licensor represents and warrants that
all Licensed Product will be manufactured in accordance with good manufacturing practices and when supplied will comply with Regulatory
Approvals.

 

(c) As of the Effective Date, there is
no claim, action or proceeding pending or, to Licensor knowledge, threatened against Licensor or its Affiliates, in respect of
the Intellectual Property or the distribution or Commercialization of the Licensed Products in the Territory, or the transactions
contemplated by this Agreement, in respect of which Licensee would become liable as a result of the consummation of the transactions
contemplated hereby. Should any claim, action or proceeding arise involving the Intellectual Property or the distribution or Commercialization
of the Licensed Products in the Territory, Licensor shall unconditionally cooperate, at its expense, with Licensee as requested,
to fully assert or defend Licensee’s rights under this Agreement.

 

 

 

 

    	 	8	 

     

    

 

8.03       Licensee’s
Representations. Licensee hereby represents and warrants the following:

 

(a) As of the Effective Date, there is
no claim, action or proceeding pending or, to Licensee’s knowledge, threatened against Licensee or its Affiliates, in respect
of which Licensor would become liable as a result of the consummation of the transactions contemplated hereby. Should any claim,
action or proceeding arise involving the Licensor or the Manufacturing, Licensee shall unconditionally cooperate, at its expense,
with Licensor or Manufacturer as requested, to fully assert or defend Licensor and Manufacturer’s rights under this Agreement;
and

 

(b) Licensee represents and warrants that
Licensed Product will be used, promoted, marketed, imported, offered for sale, sold and/or distributed in accordance with good
practices and in material compliance with Applicable Law and the terms of this Agreement.

 

NINTH. Taxes, Fees and Expenses.
Except as otherwise provided in this Agreement, each Party shall be solely responsible for payment of Taxes caused to each of them
in accordance with their corresponding tax applicable Law. Each Party shall bear its own expenses and fees (including without limitation,
if incurred, fees and expenses of legal counsel, investment bankers, brokers, auditors, or other consultants) incurred in connection
with any matter whether or not relating to or arising out of this Agreement or the Transaction contemplated hereby.

 

TENTH. Insurance. Each Party
agrees to maintain product liability insurance consistent with industry standards for a product of this nature, and shall name
the other as an additional insured under such policy for bodily injury and property damage for commercial general liability, including
product liability. Neither Party’s liability under this Agreement shall be limited by the amount of insurance that it maintains.

 

ELEVENTH. Indemnity.

 

11.01       Indemnification
by Licensor. Licensor agrees to defend, hold harmless and indemnify Licensee, its Affiliates and its and their agents, directors,
officers and employees from and against any liability or loss or liability for any and all judgments, claims, causes of action,
suits, proceedings, losses, damages, demands, fees, expenses, fines, penalties or costs (including reasonable attorney’s
fees, costs and disbursements) resulting from suits, claims, actions and demands, in each case brought by a third party arising
out of: (a) a breach of any of Licensor’s representations and warranties under Section 8 or , (b) any bodily harm or death
caused by the on-label use of the Licensed Product, including without limitation recalls, warranty claims and product liability
claims.

 

11.02       Indemnification
by Licensee. Licensee hereby agrees to defend, hold harmless and indemnify Licensor, its Affiliates and its agents, directors,
officers and employees from and against any liability or loss or liability for any and all judgments, claims, causes of actions,
suits, proceedings, losses, damages, demands, fees, expenses, fines, penalties or costs (including reasonable attorney ́s
fees, costs, and disbursements), resulting from suits, claims, actions and demands, in each case brought by a third-party arising
out of: (a) a breach of any of Licensee’s representations and warranties under this Section 8, (b) any bodily harm or death
caused by the off-label promotion of the Licensed Product by Licensee, (c) any liability in connection with the marketing, sale
or distribution by Licensee of the Licensed Products, including without limitation recalls, warranty claims and product liability
claims.

 

11.03       Indemnification
Procedure. If the indemnitee becomes aware of a third-party claim that (if successful) will result in a loss to be indemnified
under this Section, the indemnitee will promptly notify the indemnitor in writing. Failure or delay in giving such notice shall
not affect the right to be indemnified except to the extent that it prejudices the defense of the claim. If the indemnitor acknowledges
that the claim (if successful) will result in a loss within its obligation to indemnify under this Section, it may assume the defense
by giving the indemnitee written acknowledgement of its indemnity obligation and notice of its election to assume the defense within
five (5) calendar days after receiving the notice of the claim. If the indemnitor acknowledges its obligation to indemnify and
assumes the defense, it will have both the duty to defend and the right to control the defense. The indemnitor will conduct the
defense in a prudent manner and will keep the indemnitee reasonably informed as to the status of the defense. The indemnitee will
cooperate with the defense and may retain separate counsel at its own expense to participate in, but not control, the defense.
The indemnitor shall not settle a claim without the consent of the indemnitee, and that consent may not be unreasonably withheld
or delayed. If the indemnitor does not timely assume the defense, the indemnitee will have the right (but no duty) to defend or
settle the claim at the risk of the indemnitor. The indemnitor will reimburse the indemnitee for its expenses (including reasonable
attorney’s fees) of defending or settling the claim.

 

 

 

    	 	9	 

     

    

 

TWELVETH. Confidentiality.
All Confidential Information provided by one Party (the “Disclosing Party”)
to the other Party (the “Receiving Party”) shall be subject to and treated
in accordance with the terms of this Clause. As used in this Clause, “Confidential Information” means (a) all
information disclosed to the Receiving Party by the Disclosing Party in connection with this Agreement or any Ancillary Agreements,
including all information with respect to the Disclosing Party, and (b) all memoranda, notes, analyses, compilations, studies
and other materials prepared by or for the Receiving Party to the extent containing or reflecting the information in the preceding
Subsection (a), in each case, whether written or oral. Notwithstanding the foregoing, Confidential Information shall not include
information that, in each case as demonstrated by competent written documentation:

 

		(i)	is subject to this Transaction or is related
to the Assets;

 

		(ii)	was already known to the Receiving Party
other than under an obligation of confidentiality, at the time of disclosure by the Disclosing Party;

 

		(iii)	was generally available to the public or
otherwise part of the public domain at the time of its disclosure to the Receiving Party;

 

		(iv)	became generally available to the public
or otherwise part of the public domain after its disclosure to the Receiving Party other than through any act or omission of the
Receiving Party in breach of this Agreement;

 

		(v)	is subsequently disclosed to the Receiving
Party by a Third Party without obligations of confidentiality with respect thereto; or

 

		(vi)	is subsequently independently discovered
or developed by the Receiving Party without the aid, application or use of Confidential Information.

 

THIRTEENTH. Miscellaneous.

 

13.01       Liability.
Nothing in this Agreement shall be effective to limit or restrict any liability of any Party in respect of:

 

i. Death, personal injury, loss or claim
resulting from fraud, gross negligence or wilfull misconduct as otherwise prohibited by law; or

 

ii. Any fraudulent or negligent misrepresentation.

 

Subject to paragraphs (i) and (ii) herein
above, the Parties will not be liable to the other for any punitive, incidental, special, indirect or consequential damages, including
loss of profits, revenue or income, diminution in value or loss of business reputation or opportunity relating to the breach or
alleged breach of this Agreement.

 

For the avoidance of doubt, the provisions
of each sub-section of this Section 13.01 shall each be construed as a separate exclusion of liability.

 

The Parties acknowledge that monetary damages
may be inadequate for a breach of this Agreement by any Party. Accordingly, the Parties agree that any other Party may seek the
granting of injunctive relief as one of the remedies available to it in respect of any breach by any Party.

 

13.02       Assignment
of Rights, Third Party Rights. This Agreement is strictly personal to the Parties and shall be binding and to the benefit
of the Parties concluding it. Neither this Agreement nor any rights, benefits or obligations hereunder may be assigned by either
Party without the prior written Consent of the other Party. Successors and assigns of a Party (including through administration,
liquidation or other analogous process) shall be bound by this Agreement and any Person acquiring control of a Party (including
through administration, liquidation or other analogous process) shall not interfere with this Agreement or its performance in
any way which is adverse to the other Party's interests. Except as expressly provided for in this Agreement, none of the provisions
of this Agreement will grant any right, interest or action in favour of any Person (other than the Parties) or will benefit any
Person (other than the parties who appear to this Agreement).

 

 

 

 

    	 	10	 

     

    

 

13.03       Entire
Agreement. This Agreement together with its Exhibits represents the entire agreement between Licensor and Licensee with respect
to the subject-matter thereof and, therefore, supersedes any verbal or written agreement, understandings and negotiations between
the Parties, which may have related to the subject matter hereof prior to the date hereof.

 

13.04       Amendments.
Any modification or amendment to this Agreement will only be effective when the Parties have agreed in advance in writing. The
Parties may not change the terms of this Agreement unless in writing signed by them. Any waiver of any term or condition of this
Agreement shall be effective only if in writing. A waiver of any breach or failure to enforce any of the terms or conditions of
this Agreement shall not in any way affect, limit or waive a Party’s rights hereunder at any time to enforce strict compliance
thereafter with every term or condition of this Agreement. No amendments or variations to this Agreement shall be effective unless
made in writing and signed by the duly authorized representative of the Parties.

 

13.05       Severability.
The invalidity or unenforceability of any provision of this Agreement shall not affect other provisions of this Agreement. Every
provision shall be construed and interpreted in all cases as being effective and valid according to the Law. In the event that
one or more provisions of this Agreement become invalid, illegal or unenforceable in any manner, such provision or provisions shall
be ineffective only with respect to invalidity, illegality or unenforceability in question, without implying such invalidity, illegality
or unenforceability of such provision or any other contained in this Agreement, unless such interpretation is not reasonable.

 

13.06       Force
Majeure. A Party shall not be liable for non-performance or delay in performance (other than obligations regarding confidentiality)
caused by any event reasonably beyond the control of such party including, but not limited to wars, hostilities, revolutions, riots,
civil commotion, national emergency, strikes, lockouts, epidemics, fire, flood, earthquake, force of nature, explosion, embargo,
or any other Act of God, or any law, proclamation, regulation, ordinance, or other act or order of any court, government or governmental
agency.

 

13.07       Statutory
references. Any references to any statue, law, regulation, or ordinance shall be deemed to include any amendments thereto from
time to time or any successor statue, law, regulation or ordinance thereof.

 

13.08       Notifications.
Any notice or other communications which are required or permitted hereunder shall be in writing and shall be delivered either
personally, by registered or certified mail (postage prepaid and return receipt requested), or by express courier or delivery service
or by email, addressed as follows:

 

	Licensor	Licensee
	
        645 Molly Lane, Suite 150

        Woodstock, GA 30189

        Attn. Bruce Thornton

        Email:
	
        MicroSafe Group DMCC

        Liwa Heights Bldg

        Cluster W, Office 3908

        Jumeirah Lake Towers, Dubai

        Email:

        Phone:  

         

	
        With a copy to (which shall not constitute
        Notice):

         

        Amy Trombly, Esq.

        Trombly Business Law, PC

        1314 Main St., Suite 102

        Louisville, CO, 80027

        Email:
	 

 

 

 

 

    	 	11	 

     

    

 

Notices shall be deemed given when received
if hand-delivered, and when delivered and receipted for (or upon the date of attempted delivery where delivery is refused), if
sent by express courier or delivery service, or sent by certified or registered mail or email, or at latest 72 hours after being
sent.

 

13.09       Applicable
Law and Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State
of Delaware applicable to agreements entered into and performed entirely therein by residents thereof, without regarding to any
provisions relating to choice of laws among different jurisdictions. Each of the Parties irrevocably agrees that any legal action
or proceeding arising out of or relating to this Agreement brought by any other party or its successors or assigns shall be brought
and determined in the Delaware Court of Chancery and any state appellate court therefrom within the State of Delaware (unless the
Delaware Court of Chancery shall decline to accept jurisdiction over a particular matter, in which case, in any federal court within
the State of Delaware), and each of the parties hereby irrevocably submits to the exclusive jurisdiction of the aforesaid courts
for itself and with respect to its property, generally and unconditionally, with regard to any such action or proceeding arising
out of or relating to this Agreement. Each of the parties agrees not to commence any action, suit or proceeding relating thereto
except in the courts described above in Delaware, other than actions in any court of competent jurisdiction to enforce any judgment,
decree or award rendered by any such court in Delaware as described herein. Each of the parties further agrees that notice as provided
herein shall constitute sufficient service of process and the parties further waive any argument that such service is insufficient.
Each of the parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense,
counterclaim or otherwise, in any action or proceeding arising out of or relating to this Agreement or the transactions contemplated
hereby, (a) any claim that it is not personally subject to the jurisdiction of the courts in Delaware as described herein for any
reason, (b) that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced
in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution
of judgment or otherwise) and (c) that (i) the suit, action or proceeding in any such court is brought in an inconvenient forum,
(ii) the venue of such suit, action or proceeding is improper, or (iii) this Agreement, or the subject matter hereof, may not be
enforced in or by such courts.

 

13.10       Counterparts.
This Agreement may be executed in four counterparts, in original all of which shall be considered one and the same agreement, and
all of which shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to
the other Party.

 

13.11       Expenses.
Except as otherwise specifically provided herein, the Parties shall each bear their own legal fees, accounting fees and other costs
and expenses with respect to the negotiation, execution and the delivery of this Agreement and the consummation of the transaction
hereunder.

 

13.12       Cost
of Litigation. If any legal action or other proceeding is brought for the enforcement of this Agreement or because of an alleged
dispute, breach, default or misrepresentation in connection with this Agreement or the transactions contemplated hereby, the successful
or prevailing Party or Parties shall be entitled to recover reasonable attorneys’ fees and other costs incurred in connection
with such action or proceeding, in addition to any other relief to which it or they may be entitled.

 

13.13       No
Presumption Against Drafter. The Parties agree understand and agree that (i) this Agreement and the Ancillary Agreements are
freely negotiated by both Parties, and (ii) in any controversy, dispute or contest over the meaning, interpretation, validity or
enforceability of this Agreement or any Ancillary Agreement or any of its or their terms or conditions, there shall be no inference,
presumption or conclusion drawn against either Party by virtue of that Party having drafted this Agreement or any portion thereof.

 

[Signature Page follows.]

 

 

 

 

 

 

 

    	 	12	 

     

    

 

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

 

Licensor

 

/s/ Amy Trombly                                               

By: Mrs. Amy Trombly, CEO Sonoma Pharmaceuticals,
Inc.

 

 

Licensee

 

/s/ Safa Qadumi                                                 

By: Mrs. Safa Qadumi, CEO MicroSafe Group
DMCC

 

 

 

 

 

 

 

 

 

 

 

 

    	 	13	 

     

    

 

EXHIBIT
1

 

Licensed
products

 

 

Microsafe Disinfectant and Sanitizer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	14	 

     

    

 

EXHIBIT
2

 

EQUIPMENT

 

 

Acquired from Third Party: Nebulizer, Aerosol
sprayer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	15	 

     

    

 

EXHIBIT
3

 

TRANSFER
PRICES

 

Microsafe Disinfectant and Sanitizer, 5 liter

 

each Transfer Price subject to increase in accordance with Section
5.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	16

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