Document:

EX-10.16

 Exhibit 10.16 

EXCLUSIVE LICENSE AGREEMENT 

This Exclusive License Agreement (“Agreement”) is entered into as of January 11, 2010 (“Effective Date”)
by and among VIRENDER SHARMA, M.D. (“Dr. Sharma” or “Licensee”), who is an Arizona resident and ENDOSTIM, INC., a Delaware corporation (“Endostim” or “Licensor”) (individually,
a “Party” and collectively, the “Parties”). 
 RECITALS: 

A. Pursuant to a Patent Assignment Agreement entered into on September 2, 2009, as amended, Dr. Sharma transferred to Endostim all
of his rights, title, and interest in and to each of the U.S. and PCT patent applications listed on Exhibit A to this Agreement, and all applications or patents, whether foreign or domestic, related thereto or relying on such applications for
priority, (“Patents”) subject to an agreement that (I) Endostim limits its practice of the Patents, including any making, using, selling, offering for sale, or importing products claimed in such Patents, to the field of
(a) the treatment or therapy of gastroesophageal reflux or gastroesophageal reflux diseases and all esophageal and extraesophageal conditions caused by gastroesophageal reflux or gastroesophageal reflux disease and/or obesity using
electrostimulation in the stomach alone or in combination with the esophagus or (b) the treatment or therapy of any condition or indication using electrostimulation in the esophagus (collectively, the “Field”) and (II) Endostim
grants back to Dr. Sharma the exclusive, world-wide, royalty-free right to practice the Patents, including any making, using, selling, offering for sale, or importing products claimed in such Patents, so long as such practice is outside the
Field. 
 B. The Parties now wish to formalize their prior agreement by having Endostim grant Dr. Sharma the exclusive, world-wide,
royalty-free right to practice the Patents, including any right to make, use, sell, offer for sale, or import products claimed in such Patents, outside the Field based upon the terms, and subject to the conditions, of this Agreement. 

In consideration of the promises and mutual covenants contained in this Agreement and other good and valuable consideration, the receipt of
which is hereby acknowledged, the Parties agree as follows: 
 AGREEMENTS: 

1. Recitals and Exhibits. The Recitals set forth above and the Exhibits to this Agreement are incorporated herein by this reference as
if fully set forth herein and are acknowledged and agreed to by the Parties. 
 2. Grant. In consideration of the transfer of rights
made pursuant to the Patent Assignment Agreement entered into on September 2, 2009: 
 2.1 Subject to the right of first refusal set
forth in Section 3.2 of that certain Patent Assignment Agreement, dated September 2, 2009, by and among Licensor, Licensee, Sarah Sharma and EndoStim, Inc., an Arizona corporation, Licensor immediately grants Licensee the sole and
exclusive right to make, have made, use, sell, offer for sale, transfer, distribute, import, and/or market any and all inventions claimed by the Patents for therapy and/or treatment outside of the Field (“Technology Outside the
Field”). 

 2.2 The exclusive license grant made in Section 2.1 (“Exclusive License”)
is a worldwide, royalty-free license which requires no further consideration or compensation by Licensee to Licensor to remain in force and valid. 

2.3 Licensee shall further have the sole right to sublicense any and all rights exclusively licensed to Licensee under this Section 2.
Any such sublicense shall be consistent with the terms of this Agreement and shall include an obligation for each such sublicense to comply with the applicable obligations of Licensee as set forth in this Agreement. The granting of a sublicense by
Licensee shall not operate to relieve Licensee from any of its obligations under this Agreement. 
 3. Prosecution of the Patents.
Licensor shall be solely responsible for prosecuting and maintaining the Patents in all domestic and foreign jurisdictions selected by Licensor, if any. Notwithstanding the above, Licensor further agrees to provide Licensee with copies of all
communications with the Patent Office related to the Patents within twenty (20) days of receipt from, or transmission to, the Patent Office. Licensor further agrees that, if Licensee wishes to include, within one or more Patents, claims
specifically directed to Technology Outside the Field and/or pursue Patent claim coverage in any foreign country for Technology Outside the Field, Licensee may submit a written request for such claims to Licensor. Within forty five (45) days,
Licensor shall respond to Licensee’s written request by either a) approving such request, subject to reasonable revisions and Licensee’s payment to Licensor for the legal costs of pursuing such claim coverage, or b) denying such request
based upon its reasonable and good faith belief that the pursuit of the requested claims would be detrimental to obtaining patent claims covering technologies within the Field. 

4. Improvements. In the event Licensee creates any Improvement (as defined below), Licensee hereby grants Licensor a perpetual,
worldwide, royalty-free, exclusive license, with the right to grant sublicenses, to such Improvements, and any intellectual property rights related thereto, to make, have made, use, sell, offer for sale, transfer, distribute, import, and/or market
any products or services utilizing suh Improvements in the Field. “Improvement” shall mean all patentable and non-patentable inventions, discoveries, technology and information of any type whatsoever, including without limitation,
methods, processes, technical information, knowledge, and know-how which use, incorporate, derive from or are based on inventions disclosed and/or claimed in the Patents or could not be conceived, developed or reduced to practice but for the use of
the inventions disclosed and/or claimed in the Patents. 

  
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 5. Litigation. Upon the express written consent of Licensor (with such consent subject to
Licensor’s reasonable discretion), Licensee shall have the sole right, but not the obligation, to commence any legal action or proceeding, or the filing of any counterclaim (each, an “Action”), related to any alleged
infringement of the Patents with respect to Technologies Outside the Field. In the event that Licensee undertakes such an Action, the Parties agree to reasonably cooperate with each other, including providing access to all necessary documents,
executing all papers and performing such other acts as may be reasonably required for such Action, further including, but not limited to, Licensor consenting to be joined as a party plaintiff in such Action, provided that Licensee compensates
Licensor for all reasonable costs and expenses incurred for such cooperation. To the extent Licensor’s interest in the Patent is not threatened to be adversely effected, Licensee shall control such Action, and Licensee may enter into
settlements, stipulated judgments or other arrangements respecting such infringement; provided, however, Licensee shall not settle or make any agreement that would have an adverse effect on Licensor’s rights under this Agreement and/or
Licensor’s rights in and to the Patents within the Field, without the prior written consent of Licensor. Licensee shall keep Licensor reasonably apprised of the progress of any such Action. Licensor may, at its option and sole expense, be
represented by counsel of its choice, but all other costs associated with any such Action shall be at the sole expense of Licensee. 
 6.
Term and Termination. This Agreement shall continue in full force and effect for the full term of the Patents and shall automatically terminate after the last of the Patent(s) is either expired or abandoned (“Automatic Termination
Date”). Notwithstanding the above, a Party shall have the right to terminate this Agreement before the Automatic Termination Date if, and only if, the other Party has: a) materially breached this Agreement and b) after having received
written notice of the material breach, failed to cure the breach within forty-five (45) days of having received the written notice. Upon termination of this Agreement for any reason: (i) all rights granted under this Agreement will
immediately cease and revert to Licensor, and (ii) all rights granted by Licensee to third parties under sublicenses will immediately cease. Termination of this Agreement shall not limit either Party from pursuing other remedies which may be
available to it under this Agreement or any other agreement between the Parties. Notwithstanding any provision to the contrary, Sections 7 and 8 shall survive termination of this Agreement. 

7. Warranties 
 7.1
Licensor hereby represents and warrants that it has the authority to grant the Exclusive License pursuant to this Agreement. Licensor does not warrant the validity of the Patents and makes no representations whatsoever with regard to the scope of
the Patents or that the Patents may be exploited by Licensee without infringing other patents or the intellectual property rights of third parties. 

7.2 Licensor expressly disclaims any and all implied or express warranties and makes no express or implied warranties of merchantability or
fitness for any particular purpose of the Patents. 

  
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 7.3 Each Party agrees that nothing in this Agreement shall modify, abrogate, or otherwise
diminish its obligations made pursuant to the Patent Assignment Agreement and Restricted Stock Agreement executed on September 3, 2009. 

8. General 
 8.1 Each
Party shall obtain the other Party’s prior written approval, which approval shall not be unreasonably withheld, before using the other Party’s name, the name of the other Party’s product(s), employee(s), director(s), officer(s), or
employer(s), or any adaptation of the same, in any advertising, promotional or sales literature. 
 8.2 This Agreement shall be interpreted
in accordance with and governed by the laws of the State of Missouri, without regard to the conflicts of law provisions thereof. The Parties hereto irrevocably agree that any legal action or proceeding with respect to this Agreement shall only be
brought in the federal or state courts in Missouri encompassing St. Louis County, Missouri, and each Party hereby irrevocably submits with regard to such action or proceeding to the exclusive jurisdiction of the aforesaid courts. 

8.3 The Parties agree to comply with all applicable laws and regulations. In particular, it is understood and acknowledged that the transfer
of certain commodities and technical data is subject to United States laws and regulations controlling the export of commodities and technical data, including all Export Administration Regulations of the United States Department of Commerce. These
laws and regulations, among other things, prohibit or require a license for the export of certain types of technical data to certain specified counties. The Parties agree and give written assurance that they will comply with all United States laws
and regulations controlling the export of commodities and technical data, that they will be solely responsible for any violation by themselves, their affiliates or their sublicensees, and that each Party will defend and hold the other Party harmless
if any legal action of any nature occasioned by the violation. 
 8.4 Any notices required to be given or which shall be given under this
Agreement shall be in writing and shall be deemed to have been duly given if delivered or mailed, certified or registered mail, postage prepaid, as follows: 
  

			
		
	Licensee:	  	 Virender and Sarah Sharma
 #### #######
######
 ######## ######, ####### #####

		
	Licensor:	  	 EndoStim, Inc.
 ##### ####### ####, #####
###
 #########, ######## #####

 8.5 Should a court of competent jurisdiction later consider any provision of this Agreement to be invalid,
illegal, or unenforceable, it will be considered severed from this Agreement. All other provisions, rights, and obligations continue without regard to the severed provision, provided that the remaining provisions of this Agreement are the intention
of the Parties. 

  
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 8.6 No Party is liable for failure to fulfill its obligations if the failure is due to a natural
calamity, act of government, or similar cause beyond the control of the Party. 
 8.7 This Agreement constitutes the entire understanding
between the Parties and no Party is obligated by any condition or representation other than those expressly stated or as may be subsequently agreed to by the Parties in writing. 

8.8 The failure of any Party to assert a right under this Agreement, or to insist upon compliance with any term or condition of this
Agreement, is not constitute a waiver of that right, or excuse a similar subsequent failure to perform any term or condition by the other Parties. 

8.9 The Parties shall do such acts and execute such documents and instruments as may be reasonably required to make effective the transactions
contemplated by this Agreement. 
 8.10 Licensee may only assign, by operation of law or otherwise, its rights, interests, and obligations
under this Agreement to a third party with the written consent of Licensor. 
 8.11 This Agreement may be executed in separate counterparts,
each of which so executed and delivered shall constitute an original, but all such counterparts shall together constitute one and the same instrument. Any such counterpart may comprise one or more duplicates or duplicate signature pages, any of
which may be executed by less than all of the Parties, provided that each Party executes at least one such duplicate or duplicate signature page. The Parties stipulate that a photocopy of an executed original will be admissible in evidence for all
purposes in any proceeding as between the Parties. 
 8.12 The Parties are separate and independent entities. Except as may be expressly and
unambiguously provided in this Agreement, no partnership or joint venture is intended to be created by this Agreement, nor any principal-agent or employer-employee relationship. Except to the extent expressly provided in this Agreement, neither
Party has, and neither Party shall attempt to assert, the authority to make commitments for or to bind the other Party to any obligation. 

Signature page follows. 

  
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 By signing below, Licensor and Licensee hereby agree to this Agreement as of the Effective Date.

  

							
	LICENSEE:	 		 	LICENSOR:
			
		 		 	ENDOSTIM, INC., a Delaware corporation
			
	 /s/ Virender K. Sharma
	 		 	
	VIRENDER SHARMA, M.D.	 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

  
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 EXHIBIT A 

The following patents, patent applications, any divisional, continuation, substitute, renewal or reissue of the applications and/or patents and any extensions
or continuations (in whole or in part) thereof: 
  

									
	 	  	 Patent/Patent

Application No.
	  	 Title
	  	 Date Filed
	  	 Date Issued

					
	 1.
	  	U.S. Patent Application No. 12/359,317	  	Device and Implantation System for Electrical Stimulation of Biological Systems	  	January 25, 2009	  	Not Issued
					
	 2.
	  	PCT Application No. PCT/US09/31935	  	Device and Implantation System for Electrical Stimulation of Biological Systems	  	January 25, 2009	  	Not IssuedEX-10.17

 Exhibit 10.17 

PATENT ASSIGNMENT AGREEMENT 

This PATENT ASSIGNMENT AGREEMENT (this “Agreement”), is made and entered into as of the 15th day of December, 2009 (the
“Effective Date”), by and between Edy E. Soffer, an individual residing at #### ###### ######, ###########, ########## ##### (“Dr. Soffer”) and Jeffrey Conklin, an individual residing at ### ############## ###########, ## #####
(“Dr. Conklin”) and EndoStim, Inc., a Delaware corporation (“EndoStim”). 
 RECITALS 

1. Drs. Soffer and Conklin have invented and own all right, title and interest in certain inventions and patent rights embodied in the GERD
Stimulation Patent Family (as defined below). 
 2. EndoStim desires to acquire all right, title and interest in the GERD Stimulation Patent
Family. 
 In consideration of the premises and mutual covenants contained in this Agreement and other good and valuable consideration, the
receipt of which is hereby acknowledged, the parties agree as follows: 
 AGREEMENT 

 

	1.	Definitions. 

 As used in this Agreement, the following terms shall be deemed to
have the following meanings: 
 1.1 “GERD Stimulation Patent Family” shall mean: (a) U.S. Patent Application
No. 121300,614, entitled “Use of electrical stimulation of the lower esophageal sphincter to modulate lower esophageal sphincter pressure,” which was filed on November 12, 2008; (b) Patent Cooperation Treaty Application No.
PCT/US07/68907; (c) any and all continuations, divisions, and continuations-in-part of such patent applications, whether related to such patent applications directly or through one or more intervening applications; (d) any and all foreign
applications for patent or utility model claiming priority in whole or in part from any of such patent applications; and (e) any and all patents and utility models issuing on or registered from any of the applications identified above, together
with any and all reexaminations, reissues, additions, extensions or renewals thereof 
 1.2 “Inventors” shall mean Drs.
Soffer and Conklin, collectively and individually. 
  

	2.	Assignment of GERD Stimulation Patent Family. 

 2.1 Assignment. The
Inventors do hereby sell, assign, transfer, and set over unto EndoStim all of their right, title, and interest in, to and under the GERD Stimulation Patent Family and all inventions described and/or claimed therein, pursuant to both this Agreement
and an assignment in the form attached as Exhibit A to this Agreement. 

 2.2 Assurance of Title. The Inventors agree to execute or procure any further necessary
assurance of their title to the GERD Stimulation Patent Family; and at any time, upon the request and at the expense of EndoStim, will execute and deliver any and all papers that may be necessary or desirable to perfect EndoStim’s rights to the
GERD Stimulation Patent Family in EndoStim, its successors, assigns or other legal representatives; and upon the request of EndoStim, will execute any additional applications for patents for said inventions, or any part or parts thereof, and for the
reissue of any Letters Patents to be granted therefore; and will make all rightful oaths and do all lawful acts requisite for procuring the same or for aiding therein, without further compensation, but at the expense of EndoStim, its successors,
assigns, or other legal representatives. 
 2.3 Assignment Fee. As consideration for the assignment of the GERD Stimulation Patent
Family, EndoStim shall pay the Inventors Sixty-Thousand-Five-Hundred Dollars ($60,500) within one-hundred-twenty (120) days of the Effective Date. This Assignment Fee shall be made in the form of two deferred checks signed for April 15,
2010, one in the amount of $30,250 payable to Dr. Soffer and a second in the amount of $30,250 payable to Dr. Conklin, both deferred checks to be delivered to the Inventors within ten (10) days of execution of this Agreement. 

2.4 First Contingent Assignment Fee. In addition to the Assignment Fee set forth in Section 2.3, EndoStim shall pay the inventors
Fifty-Five-Thousand Dollars ($55,000) within sixty (60) days (but no earlier than April 15, 2010) of the Inventors providing EndoStim with documents confirming to EndoStim’s reasonable satisfaction that neither MetaCure (USA), Inc.
nor MetaCure Ltd. (collectively “MetaCure”), has any rights in the GERD Stimulation Patent Family, whichever comes later. Examples of documents that should be considered reasonably satisfactory to EndoStim include: (i) a written
release from MetaCure; and/or (ii) documents (including all correspondence between Cedars-Sinai Medical Center and Metacure related to this issue) demonstrating that Metacure declined to exercise its right, if any, to negotiate and take a
license to the GERD Stimulation Patent Family pursuant to the Master Pre-Clinical Study Agreement dated as of July 5, 2005 by and between Cedars-Sinai Medical Center and Metacure. In the event that the Inventors have not provided EndoStim with
documents confirming to EndoStim’s reasonable satisfaction that MetaCure does not have any rights in the GERD Stimulation Patent Family, EndoStim shall: (i) no longer be obligated to pay the first contingent assignment fee set forth in
this Section 2.4; and (ii) at the Inventors’ election, either retain its rights in the GERD Stimulation Patent Family (subject to Section 2.5 below) or reassign its rights in the GERD Stimulation Patent Family back to the
inventors within ten (10) days of EndoStim receiving Sixty-Thousand-Five-Hundred Dollars ($60,500) from the Inventors (which was paid to the Inventors pursuant to Section 2.3). 

2.5 Second Contingent Assignment Fee. In addition to the Assignment Fee set forth in Section 2.3 and the First Contingent
Assignment Fee set forth in Section 2.4, EndoStim shall pay the inventors One-Hundred-Fifty-Thousand Dollars ($150,000), contingent upon the following three items: 

(a) a first-in-human clinical study performed overseas using the techniques described in the GERD Stimulation Patent Family
results in favorable clinical results; and 

  
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 (b) the favorable results from the clinical study are the direct result of
delivering an electrical signal to the lower esophageal sphincter or a region proximate thereto to stimulate the lower esophageal sphincter, in which the electrical signal is characterized as in original claims 7-12, 19-24, 29-30, 32-35 and/or 38-40
of pending U.S. Patent Application No. 12/300,614 (as shown in U.S. Patent Application Publication No. US2009/0132001); and 

(c) EndoStim closes its “B Round” funding. 

EndoStim shall pay the second contingent assignment fee within ten (10) days of the satisfaction of all items in Sections
2.5(a) — (c). 
 In addition to the requirements set forth above, the amount of the contingent assignment fee shall be
renegotiated by the parties in the event EndoStim provides the Inventors with prior art references, other than previously identified U.S. Patent Nos. 6,097,984 to Douglas and 6,901,295 to Sharma, which reasonably demonstrate that the claims
identified in Section 2.5(b) above will not be allowed. 
 2.6 Cooperation. EndoStim shall have the sole responsibility for
prosecuting and maintaining the GERD Stimulation Patent Family with patent counsel of its choosing. The Inventors shall cooperate with EndoStim and its counsel in connection with such prosecution, for example, by providing all pertinent information
and data with respect thereto, assisting in reviewing and responding to any actions issued by any patent office, and executing applications, specifications, declarations, oaths, assignments and all similar instruments which EndoStim shall deem
necessary. The Inventors further agree that their obligation to execute or cause to be executed any such instrument or papers shall continue after the termination of this Agreement. If EndoStim is unable for any reason to secure the Inventors’
signature to apply for or to pursue any application for any United States or foreign patents assigned hereunder to EndoStim, then each Inventor hereby irrevocably designates and appoints EndoStim and its duly authorized officers and agents as such
Inventor’s agent and attorney-in-fact, to act for and in his/her name, place and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent thereon with
the same legal force and effect as if executed by such Inventor. Any action required of the Inventors under this Section shall be at the expense of EndoStim. 
  

	3.	Warranties and Limitations 

 3.1 The Inventors represent and warrant that
collectively they are the owner of all rights, title, and interest in GERD Stimulation Patent Family, and that the Inventors have full authority to convey the rights in the GERD Stimulation Patent Family pursuant to this Agreement and the attached
Assignment. The Inventors do not warrant the validity of the GERD Stimulation Patent Family and make no representations whatsoever with regard to the scope of the GERD Stimulation Patent Family or that the GERD Stimulation Patent Family may be
exploited by EndoStim without infringing other patents or the intellectual property rights of third parties. 

  
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 3.2 The Inventors represent and warrant that any and all grants of rights to the GERD Stimulation
Patent Family, or promises to perform such grants in the future, made pursuant to this Agreement do not, and will not, violate any agreements that the Inventors may have with existing or future employers (including without limitation, Cedars-Sinai
Medical Center), or with other parties with whom the Inventors may have a contracted obligation to assign intellectual property rights. 

3.3 EndoStim acknowledges that, pursuant to an Assignment and Non-Exclusive License Agreement dated December 14, 2007 between the
Inventors and Cedars-Sinai Health System, a d/b/a/ of Cedars-Sinai Medical Center (“Cedars-Sinai”), the Inventors granted Cedars-Sinai a royalty-free, fully paid-up, worldwide and perpetual non-exclusive license under the GERD Stimulation
Patent Family for Cedars-Sinai’s research, teaching, educational, and clinical purposes. The Inventors represent, warrant and agree that they shall fully and completely comply with all obligations under such agreements with Cedars-Sinai. 

3.4 The Inventors shall jointly and severally indemnify, defend, and hold harmless EndoStim and it directors, officers, agents, shareholders
attorneys, successors and assigns (“Assignee Indemnities”) against any liability, damage, loss, or expenses (including reasonable attorneys’ fees and expenses of litigation) incurred by or imposed upon the Assignee Indemnities
or any one of them with respect to any judgments in a court of law or by an arbitrator (it being understood that EndoStim shall have no obligation to pursue any appeal or additional remedy unless EndoStim, in its sole discretion, makes a
determination to pursue such appeal or additional remedy) arising out any fraud, misrepresentation, or breach of this Agreement by the Inventors (including without limitation any representation or warranty made by the Inventors pursuant to this
Agreement); provided, however, that the maximum amount of such indemnification shall not exceed the amount of the payments from EndoStim to the Inventors actually paid hereunder. 

3.5 EndoStim shall indemnify, defend, and hold harmless the Inventors (“Inventor Indemnities”), against any liability, damage, loss,
or expenses (including reasonable attorneys’ fees and expenses of litigation) incurred by or imposed upon the Inventor Indemnities or any one of them about any claims, suits, actions, demands, or judgments arising out of any product, process,
method or service made, used, or sold by EndoStim, its directors, employees, contractors, subcontractors or agents or by third parties pursuant to any right or license granted under this Agreement. The rights and obligations of this section shall
survive termination or expiration of this Agreement. 
 3.6 The Inventors expressly disclaim any and all implied or express warranties and
make no express or implied warranties of merchantability or fitness for any particular purpose of the rights conveyed by this agreement. 
  

	4.	Miscellaneous 

 4.1 This Agreement shall be interpreted in accordance with and
governed by the laws of the State of Missouri, without regard to the conflicts of law provisions thereof. The parties hereto irrevocably agree that any legal action or proceeding with respect to this Agreement shall only be brought in the federal or
state courts in Missouri encompassing St. Louis County, Missouri, and each party hereby irrevocably submits with regard to such action or proceeding to the exclusive jurisdiction of the aforesaid courts. 

  
 4 

 4.2 Any notices required to be given or which shall be given under this Agreement shall be in
writing and shall be deemed to have been duly given if delivered or mailed, certified or registered mail, postage prepaid, as follows: 
  

			
	Inventors:	  	 Edy E. Soffer
 #### ##### #####

###########, ########## #####

		
		  	 Jeffrey Conklin
 ### ##############

###########, ########## #####

		
		  	 With a copy to:
 Miles Yamanaka

Berliner & Associates
 ### #### ##### ######

###########, ########## #####

		
	EndoStim:	  	 EndoStim, Inc.
 Center for Emerging
Technologies
 #### ###### #### ###, ##### ###
 #########,
######## #####

		
		  	 With a copy to:
 Daniel A. Crowe

Bryan Cave LLP
 ### ############ ######

### ###########, #### ####
 #########, ########
#####

 4.3 Should a court of competent jurisdiction later consider any provision of this Agreement to be invalid,
illegal, or unenforceable, it will be considered severed from this Agreement. All other provisions, rights, and obligations continue without regard to the severed provision, provided that the remaining provisions of this Agreement are the intention
of the parties. 
 4.4 No party is liable for failure to fulfill its obligations if the failure is due to a natural calamity, act of
government, or similar cause beyond the control of the party. 
 Stimulation Family; and upon the request of EndoStim, will execute any additional
applications for patents for the inventions, or any part or parts thereof, and for the reissue of any patents within the GERD Patent Stimulation Family; and will make all rightful oaths and do all lawful acts requisite for procuring the same or for
aiding therein, without further compensation, but at the expense of EndoStim, its successors, assigns, or other legal representatives 

  
 5 

 IN WITNESS WHEREOF, the undersigned have hereunto set their hands having fully read the above and
fully understanding the contents and/or provisions thereof. 
  

	
	ASSIGNORS:
	
	 /s/ Edy E. Soffer

	EDY E. SOFFER, M.D.
	
	 /s/ Jeffrey Conklin

	JEFFREY CONKLIN, M.D.

  
 6 

 EXHIBIT A 

ASSIGNMENT AGREEMENT 

THIS ASSIGNMENT AGREEMENT (the “Agreement”), effective as of December 15, 2009, is hereby entered into by and
between Edy E. Soffer, an individual residing at #### ###### ######, ###########, ########## ##### (“Dr. Soffer”) and Jeffrey Conklin, an individual residing at ### ############## ###########, ## ##### (“Dr. Conklin”) (Drs.
Soffer and Dr. Conklin collectively referred to as “Assignors”) and EndoStim, Inc., a Delaware corporation (“EndoStim”). 

WHEREAS, Assignors and EndoStim entered into a certain Patent Assignment Agreement, in which Assignors conveyed to EndoStim the entire
right, title and interest in and to U.S. Patent Application No. 12/300,614, entitled “Use of electrical stimulation of the lower esophageal sphincter to modulate lower esophageal sphincter pressure,” which was filed on
November 12, 2008; (b) Patent Cooperation Treaty Application No. PCT/US07/68907; (c) any and all continuations, divisions, and continuations-in-part of such patent applications, whether related to such patent applications directly or
through one or more intervening applications; (d) any and all foreign applications for patent or utility model claiming priority in whole or in part from any of such patent applications; (e) any and all patents and utility models issuing
on or registered from any of the applications identified above, together with any and all reexaminations, reissues, additions, extensions or renewals thereof (collectively, “the GERD Patent Stimulation Family”). 

WHEREAS, the Patent Assignment Agreement contains certain confidential terms and provisions; and 

WHEREAS, Assignors and EndoStim wish to enter into this Agreement for the sole purpose of confirming and memorializing the terms of the Patent
Assignment Agreement that are not confidential and making said terms of record in the U.S. Patent & Trademark Office. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Assignors hereby sell, assign, transfer, and set over unto EndoStim all of their right, title, and interest in, to and under the GERD Patent
Stimulation Family and all inventions described and/or claimed therein, in and for the United States of America and all foreign countries, including all treaty and convention rights, and the right to sue for present, past, and future infringement,
enforce any rights and file any causes of action related thereto (either in law or equity), and to all income, royalties, fees, damages, and payments now or hereafter due or payable in respect thereto, the same to be held and enjoyed by EndoStim,
its successors and assigns, to the full extent permissible under any applicable laws, as fully and entirely as the same would have been held and enjoyed by the undersigned if this assignment had not been made. 

And by this covenant the Assignors agree to execute or procure any further necessary assurance of his title to the GERD Patent Stimulation
Family; and at any time, upon the request and at the expense of EndoStim, or its successors or assigns, will execute and deliver any and all papers that may be necessary or desirable to perfect EndoStim’s rights in the GERD Patent 

 4.5 This Agreement constitutes the entire understanding between the parties and no party is
obligated by any condition or representation other than those expressly stated or as may be subsequently agreed to by the parties in writing. 

4.6 The failure of any party to assert a right under this Agreement, or to insist upon compliance with any term or condition of this
Agreement, does not constitute a waiver of that right, or excuse a similar subsequent failure to perform any term or condition by the other parties. 

4.7 This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their heirs, administrators, successors and
assigns. 
 4.8 This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which
taken together shall constitute one and the same instrument. 
 4.9 In the event of the death of Jeffrey Conklin or Edy E. Soffer, the
deceased inventor’s payments under this Agreement shall be made to the Conklin Family Trust or the heirs of Edy E. Soffer specified in the Edy E. Soffer’s will, respectfully. 

By signing below, the Inventors and EndoStim hereby agree to this Agreement as of the Effective Date. 

 

							
	INVESTORS:	 		 		 	ENDOSTIM:
				
		 		 		 	ENDOSTIM, INC., a Delaware corporation
				
	 /s/ Edy E. Soffer
	 		 		 	
	EDY E. SOFFER, M.D.	 		 		 	
				
	 /s/ Jeffery Conklin
	 		 		 	
	JEFFREY CONKLIN, M.D.	 		 		 	
				
		 		 	By:	 	 /s/ Michael Lightfoot

		 		 		 	Michael Lightfoot, Director of Operations

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