Document:

Exhibit 10.16

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

 

November 1, 2020

 

[***]

[***]

[***]

Attention: [***]

 

Dear [***]:

 

The
purpose of this binding letter agreement (the “Agreement”), effective January 14, 2021 (the “Effective
Date”) is to set forth the mutual understandings and binding agreements of [***] and Nuvo Group USA, Inc. (“Nuvo”)
in respect of the preparation and implementation of the Virtual Prenatal Pilot in which Nuvo’s proprietary and patent-protected
Invu patient platform will be Integrated throughout the [***], all as defined hereunder.

 

Definitions:

 

“Confidential
Information” shall mean any and all trade secrets and other confidential and proprietary information of either party including,
without limitation, the terms of this Agreement and any and all technical, non-technical and proprietary information such as: software
programs, software source documents, customer lists, billing information, patient information, affiliate information, personnel, business
and contractual relationships, business plans and strategies and all reports and summaries which contain or otherwise reflect or are
generated from any of the foregoing, whether or not in written form. Notwithstanding the foregoing Confidential Information does not
include information that: [***].

 

“Integration”
refers to the integration, implementation and operational roll-out of Invu throughout [***] network for the purpose of implementing a
Pilot.

 

“Intellectual
Property Rights” shall mean all worldwide Intellectual Property Rights of any kind, whether arising under statute, common
law, treaty, convention or otherwise, and whether or not vested or inchoate, including, without limitation: (i) any and all patents,
utility models, rights in inventions, patent applications, ideas, concepts, know-how and improvements, (ii) all rights associated with
works of authorship, including copyrights and moral rights, (iii) all trademarks, service marks and rights in designs and logos, (iv)
all rights relating to the protection of trade secrets and confidential information, and (v) any other proprietary rights relating to
intellectual property and/or industrial property.

 

“INVU
by Nuvo, (“Invu”)” refers to Nuvo’s proprietary virtual pregnancy monitoring and management
patient platform (which includes, without limitation, all of components associated therewith as more fully described in Exhibit A).

 

“Pilot”
refers to the virtual prenatal monitoring pilot carried out by [***] utilizing Invu, as described in Exhibit C attached
hereto.

 

[***]

 

     

    CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

Each
of [***] and Nuvo acknowledges and agrees as follows:

 

1. 
Scope. The parties seek to leverage a Department of Health and Human Services Maternal Health grant (the “Grant”)
that was awarded to [***] to effectuate an offering that creates an immediate clinical impact for
remote maternal health in the face of COVID-19. As such, this Agreement outlines the commitments of both Nuvo and [***] to
stand up a pilot (the “Pilot”) that is paid for by the Grant with the broader objectives of (i) growing an installed base
of support for a lasting Nuvo and [***] collaboration and the eventual enterprise-wide adoption for remote maternal health monitoring
over a broad range of use cases, and (ii) unlocking joint value creation, by generating and sharing cost-savings data with payers such
as [***].

 

2. 
[***] Subject to the terms and conditions contained in this Agreement, [***] hereby commits
to Nuvo as follows:

 

2.1 
Until the start of the Pilot, [***] and Nuvo shall jointly and promptly undertake the Integration of Invu within and throughout
the [***] in accordance with the program scope described in Exhibit B attached hereto (which includes the pre-Pilot roadmap
during the pre-Pilot period which is estimated to take no longer than 90 days). The Pilot shall not commence (and no Invu devices will
be supplied to [***]) until [***] and Nuvo have completed each of their respective pre- Pilot activities, as validated by the pre-Pilot
roadmap and as set forth in Exhibit B.

 

2.2 
Following [***] completion of the services described within the pre-Pilot roadmap, [***] will officially implement the Pilot,
as described in more detail in Exhibit C hereto. Exhibit C will be supplemented by a Formal Quote to define
the parameters of the Pilot in more detail, which must be matched by an official Purchase Order to initiate all activities between the
parties. The Pilot will run through July 15th, 2021, but cease accepting new patients by either: (i) [***] enrollment of fifty
(50) patients, or (ii) April 30, 2021, whichever occurs sooner. Additionally, set forth in Exhibit C are the monitored
metrics (the “Pilot Metrics”) that both [***] and Nuvo will employ to design the parties’ potential broader
framework agreement for a more expansive commercial launch of Invu within the [***] (the “Broader Expansion Launch”)
following the expiration of the Pilot. In furtherance of the foregoing:

 

(a) 
If the Pilot Metrics are satisfied and/or exceeded, as mutually confirmed by [***] and Nuvo, [***] will undertake best efforts
to present the findings to a value analysis committee, and will have the right to carry out the full commercial launch of Invu within
the [***]; provided, that, [***] and Nuvo consummate a definitive agreement for the Broader Expansion Launch of Invu (the “Commercial
Agreement”); and

 

(b) 
If the Pilot Metrics are not satisfied by the expiration of the Pilot, [***] and Nuvo shall have the right to: (i) undertake the
implementation of the Broader Expansion Launch notwithstanding the foregoing and subject to the parties’ executing the Commercial
Agreement, or (ii) terminate any further collaborations associated with Invu.

 

(c) 
Either party hereto may exercise its rights under this Section 2.2 by notifying the other party [***].

 

2.3 
[***] acknowledges that Nuvo’s performance of its obligations, including meeting all applicable timelines, is subject to
[***] reasonable cooperation and assistance, as well as [***] provisioning of all [***] and/or required
by Nuvo from time to time from [***].

 

2.4 
To the extent [***] and/or Nuvo encounter unforeseen issues or challenges in respect of the Invu Integration during the pre-Pilot
period and/or the Pilot, they will work collaboratively and in good faith to resolve such issues in a timely and mutually satisfactory
manner.

 

2.5  Nuvo
and [***] shall each appoint a qualified employee to act as its respective project manager (hereinafter the “Project
Managers”) for the work undertaken hereunder. Each party’s respective Project Manager(s) assigned for both the
Pre-Pilot Period and for the Pilot Period are identified in Exhibits B and C, respectively. Each such Project Manager
shall (i) act as the principal contact between the parties, and (ii) ensure that Nuvo personnel coordinate with [***] personnel and
management. [***] Project Manager shall be responsible for the overall technical direction and approval of the Integration, and if
applicable, the Pilot which shall be given at all times on behalf of [***] management.

 

    2

     
CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

2.6 
If due to [***] failure to achieve the Pilot Metrics either party shall elect to terminate this Agreement pursuant to Section
2.2(b)(ii), the parties will comply with the termination provisions set forth in Section 6 below.

 

3.
Fees.

 

3.1 
[***] and Nuvo agree to the payments that [***] will remit to Nuvo in connection with the Pilot pursuant to Exhibit D
attached hereto (the “Pilot Fees”), and as awarded to [***] from the HHS Maternal Health grant. All fees due and payable
under this Agreement shall be remitted by [***] on [***] terms from [***] receipt of an invoice
therefor from Nuvo. All Pilot Fees paid to Nuvo by [***] shall be wired to an account designated by Nuvo. Nuvo and [***] jointly
acknowledge that if no Pilot is implemented by [***], none of the Pilot Fees will be due and owing to Nuvo.

 

3.2 
Provided that prior written notice of any non-payment has been made to [***] and [***] has had a reasonable opportunity to cure,
Nuvo may suspend, discontinue or terminate its provisioning of Invu until any and all overdue fees and charges are paid in full by [***]
to Nuvo.

 

3.3 
Except for the Pilot Fees, each party hereto will be responsible for its own costs and expenses which are incurred by such party
in connection with, or arising from, the performance of its duties and obligations hereunder. The foregoing notwithstanding, if [***]
shall require that Nuvo provides on-site support and/or training to [***] technicians beyond Nuvo’s customary in-person training
either during the pre-Pilot period or thereafter during the Pilot, [***] shall cover or otherwise reimburse Nuvo for such travel- related
costs and expenses. [***]. Nuvo shall invoice [***] for all travel-related costs and expenses separately
from other fees in this Agreement.

 

3.4 
All remuneration paid to Nuvo are exclusive of any taxes, assessments or duties that may be assessed, including, without limitation,
sales, use, excise, value added, and withholding taxes. [***] shall directly pay any such taxes assessed against it and [***] shall promptly
reimburse Nuvo for any such taxes payable or collectable by Nuvo. Such taxes do not include taxes based upon Nuvo’s income, which
shall remain Nuvo’s responsibility.

 

4.
Ownership.

 

4.1 
[***] acknowledges and agrees that, as between [***] and Nuvo, Nuvo will at all times [***] own
and retain all rights, title and interest in and to Invu (including without limitation, the Invu Components) and any all related Intellectual
Property Rights therein and appurtenant thereto. Any improvements, modifications and/or derivative works that are conceived by [***]
regarding Invu, whether such Improvements are conceived alone or jointly with Nuvo, shall constitute the [***] property
of Nuvo.

 

4.2  Nuvo
hereby grants to [***] a limited, non-exclusive, non-assignable, non-sub-licensable, non-transferable right and license to use Invu
for the sole purpose of facilitating the pre-natal remote monitoring and management of enrolled [***] patients during the Term of
this Agreement. [***] may not use Invu, in whole or in part, in any way or for any purpose other than as expressly permitted herein,
and no other licenses or rights may be implied. In addition, [***] may not, during or after the Term hereof, use, copy, distribute,
reverse engineer, decompile, sell, lease, sublease, sublicense or otherwise transfer (including electronic transfer from one
computer to another over a network or otherwise), modify, adapt, translate, network, publish or create derivative works of all or
any portion of Invu.

 

    3

     
CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

4.3
The provisions of this Section 4 notwithstanding and subject to the provisions of Section 5.4 below, [***] and Nuvo agree the data resulting
from patients utilizing Invu (the “Invu Data”) shall be the property of [***]; provided, that, [***]
may use the data for the limited purposes permitted under the business associate agreement, which is attached hereto as Exhibit
E.

 

5.
Confidentiality.

 

5.1 
Each of Nuvo and [***] acknowledges and agrees that the disclosing party’s (the “Disclosing Party”) Confidential
Information constitutes its trade secrets, is valuable and proprietary to the Disclosing Party, and that such party has taken all necessary
steps and will continue to take all necessary steps to maintain the valuable, secret, and proprietary nature of its Confidential Information.
Except as otherwise provided in this Section 5, the party receiving Confidential Information from the Disclosing Party (the “Receiving
Party”) will not disclose to any person or entity or make any unauthorized use of the Disclosing Party’s Confidential
Information, except for the purpose of performing its obligations under this Agreement. If it is necessary for the Receiving Party to
disclose the Disclosing Party’s Confidential Information to a third party in order to perform its duties hereunder and the Disclosing
Party has provided it with written authorization to do so, the Receiving Party shall disclose only such Confidential Information as is
necessary for it to perform its obligations hereunder. All employees, representatives, agents and subcontractors of each party hereto
shall be bound by this Section 5.2 and shall be required to protect the other party’s Confidential Information as required herein.

 

5.2 
Except as otherwise permitted under this Agreement, the parties agree to keep the terms and conditions of this Agreement confidential.
In the event either party receives a subpoena or order issued by, or in conjunction with a litigation, investigation or other pending
proceeding with a court of competent jurisdiction or a governmental body to disclose all or any part of the terms and conditions of this
Agreement and/or the other party’s Confidential Information, the party agrees, to the extent lawful, to (i) immediately notify
the other party of the existence, terms, and circumstances surrounding such a request; (ii) if disclosure of such terms and conditions
and/or other Confidential Information is required, furnish only that portion which, in the opinion of the other party’s counsel,
the party is required to disclose; and (iii) reasonably cooperate with the other party at the other party’s request and expense
to obtain an order or other reliable assurance that confidential treatment will be accorded to the disclosures made pursuant to this
Section 5.3.

 

5.3 
Nuvo and [***] both acknowledge that U.S. federal (including, but not limited to the Health Insurance Portability and Accountability
Act of 1996, Public Law 104-191 (“HIPAA”)) and state laws and regulations may govern the collection, transmission
and use of patient-related data. Both parties agree to abide by any applicable laws and regulations and acknowledge that neither party
shall be liable for the other party’s non-compliance with such laws. In addition to the foregoing, the parties jointly acknowledge
entering into that certain business associates agreement, contemporaneous with the execution of this Agreement and dated of even date
herewith, which is attached hereto as Exhibit E.

 

6.
Term & Termination.

 

6.1
The term of this Agreement shall begin on the Effective Date hereof and will continue until the sooner to occur of: (i) the parties’
dual execution of the Commercial Agreement preceding the Broader Expansion Launch, or (ii) either party’s termination of the Pilot
pursuant to Section 2.2(b)(iii) (the “Term”), unless otherwise terminated by either party pursuant to this Section
6.

 

    4

     
CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

6.2 
Either party may terminate this Agreement upon [***] prior written notice in the event of a material breach by the other party
where the breaching party fails to remedy such breach within such [***] period following such written notification by the non-breaching
party.

 

6.3 
In addition to those obligations which expressly survive the termination of this Agreement, upon termination hereof: (i) [***]
shall promptly remit to Nuvo any and all unpaid fees and other charges incurred prior to the effective date of termination; (ii) [***]
will cooperate with Nuvo in the retrieval and collection of Invu Components that were bundled and supplied to enrolled patients in Invu
by [***] during the Term; and (iii) [***] shall immediately discontinue any use of Invu Components (e.g., the applications, devices,
equipment, interfaces, etc.) and promptly thereafter notify its enrolled patients in writing that Invu is no longer available to them
in any capacity.

 

6.4 
[***] agrees that if any of the Invu units previously supplied by Nuvo during the Term are not retrieved by [***] and delivered
to Nuvo within [***] from the effective date of termination of this Agreement or if any such returned components are so materially damaged
that they cannot be re- used by Nuvo, [***] will pay to Nuvo an Invu bundle fee of [***] which payment shall be made within [***] from
Nuvo’s written request therefor and delivery of photos or other evidence substantiating such damage.

 

6.5
The following provisions shall survive any termination of this Agreement: 3, 4, 5, 6, 8 and 9.

 

7.
Warranties; Limitation of Liability.

 

7.1 
Each party warrants to the other that: (i) it has the power and authority to enter into and perform its obligations under this
Agreement, and (ii) it will comply with all applicable local, state and federal laws, ordinances, regulations and orders with respect
to this Agreement, including without limitation HIPAA and its implementing administrative simplification regulations.

 

7.2 
So long as [***] usage of Invu comports with the requirements set forth in the Invu operational documents (which may be updated
by Nuvo from time to time) (the “Invu Documentation”) that Nuvo will provide to [***] in connection with the pre-Pilot
roadmap, Nuvo warrants that Invu will be free from material defects in materials and workmanship. Nuvo will repair or replace any defective
components within Invu (with the choice to repair or replace being made by Nuvo, at its sole discretion); provided, however,
that the defect is promptly reported in writing to Nuvo in a manner requested by Nuvo for client support purposes. Nuvo’s obligation
to replace or repair any of Invu component(s) will be [***] exclusive remedy for breach of this warranty. The manner and extent of the
repairs that Nuvo shall supply to [***] are set forth in the Invu Documentation.

 

7.3 
The warranty set forth in Section 7.2 above will not apply: (i) if any of the Invu components are modified, misused, repaired,
altered or damaged by [***], a patient or any unauthorized third party, (ii) if Invu is used by [***] or any enrolled patients other
than as expressly contemplated by this Agreement and/or in the Invu Documentation supplied to [***], (iii) to any defects in Invu Components
resulting from the negligence or mistreatment by [***], its patients or third parties, or (iv) to any defects, inoperability or other
malfunctions and problems resulting from events of force majeure, utility, telecommunications or Internet outages or downtime due to
regularly scheduled maintenance or upgrades or any other causes beyond Nuvo’s reasonable control.

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

7.4 
Prior to making any warranty claim(s) under Section 7.2, [***] shall notify Nuvo in writing of the specific component(s) or feature(s)
within Invu that [***] claims to be defective, and follow the recommendations of Nuvo’s technical support staff to resolve the
technical issue.

 

7.5 
EXCEPT FOR THE LIMITED WARRANTIES CONTAINED IN THIS SECTION 7, INVU (INCLUDING, WITHOUT LIMITATION, INVU COMPONENTS) IS PROVIDED
“AS IS” AND “AS AVAILABLE”, AND ALL OTHER WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED OR STATUTORY, ARE
HEREBY DISCLAIMED. NUVO DOES NOT WARRANT THAT INVU WILL BE UNINTERRUPTED OR ERROR FREE.

 

7.6 
Neither party (including each party’s principals, directors, officers, employees, consultants and representatives) shall
be responsible or liable to the other in any event for indirect, incidental, consequential, special or exemplary damages or penalties
(including without limitation, damages resulting from interruption or loss of business, interruption or loss of use, loss of profits
or other economic loss), even if such party had or should have had any knowledge, actual or constructive, of the possibility of such
damages, unless such an amount is recovered from an indemnified party pursuant to a claim by a third party. This limitation of liability
applies equally to any third parties (e.g., enrolled patients in Invu) with whom either party enters into a binding agreement, directly
or indirectly, related to this Agreement and/or Invu.

 

7.7
Intentionally deleted.

 

7.8 
[***] ACKNOWLEDGES AND AGREES THAT INVU / INVU COMPONENTS DO NOT REPLACE THE PROFESSIONAL MEDICAL JUDGMENT OF A PATIENT’S
HEALTH CARE PROVIDER, AND NUVO IS NOT ENGAGED IN ANY ACTIVITY THAT COULD BE DEEMED TO BE THE PRACTICE OF MEDICINE. [***] UNDERSTANDS
AND AGREES THAT ITS USE AND/OR RECOMMENDATIONS, AND ANY USE BY ITS PATIENTS, OF ANY ASPECT OF INVU, IS AT [***] OWN RISK.

 

7.9 
During the Term of this Agreement, Nuvo will maintain insurance coverage in conformance with the requirements set forth in Exhibit
F attached hereto.

 

8.
Indemnification.

 

8.1 
[***] will defend, indemnify and hold harmless Nuvo and its affiliates and their respective officers, directors, employees, agents,
successors and assigns from and against any third party liability, loss, claim, damage, cost or expense (including, without limitation,
as a result of personal injury, death or property damage) and including, without limitation, litigation-related costs and attorneys’
fees, regardless of outcome (collectively, “Liabilities”), arising out of (i) [***] grossly negligent or willful misconduct
or improper use of Invu, or (ii) any material breach by [***] of its duties and obligations herein.

 

8.2  Nuvo
will defend, indemnify and hold harmless [***] and its affiliates and their respective officers, directors, employees, agents,
successors and assigns from and against any Liabilities arising out of (i) any material breach by Nuvo to perform an obligation
hereunder, or (ii) the grossly negligent or willful misconduct of Nuvo in performing its obligations under this Agreement.

 

8.3 
A party entitled to be indemnified pursuant to this Section 8 (the “Indemnified Party”), shall provide prompt
written notice to the party liable for such indemnification (the “Indemnifying Party”) of any claim or demand which
the Indemnified Party has determined has given or could give rise to a right of indemnification under this Agreement. The Indemnifying
Party shall promptly undertake to discharge its obligations hereunder. Additionally, the Indemnifying Party shall employ counsel reasonably
acceptable to the Indemnified Party to defend any such claim or demand asserted against the Indemnified Party. The Indemnified Party
shall have the right to participate in the defense of any such claim or demand at its own expense. The Indemnified Party shall cooperate
with the Indemnifying Party in any such defense. The Indemnifying Party may not settle or compromise any claim or demand without the
Indemnified Party’s prior written consent. The Indemnified Party shall make available to the Indemnifying Party or its agents all
records and other materials in the Indemnified Party’s possession reasonably required by it for its use in contesting any third
party claim or demand.

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

9.
Miscellaneous.

 

9.1 
Compliance with Laws. Each party shall comply with any and all applicable federal, state and local laws and regulations
including, without limitation, export control laws and regulations and applicable federal, state and local laws and regulations regarding
confidentiality of medical records and other patient information. [***] acknowledges its responsibility for compliance with the Health
Care Finance Administration and/or Medicare requirements pertaining to the promotion of its services to Medicare beneficiaries.

 

9.2 
Press Releases. Promptly following the consummation of this Agreement by the parties, the parties will jointly issue a
press release describing the collaboration contemplated hereunder, which press release will require the mutual written agreement of the
parties. Both Nuvo and [***] shall have the right to mention the existence of this Agreement (but not its terms) after the Effective
Date hereof solely while the Agreement remains in force, in their respective marketing materials or as a reference for current and future
customers and/or patients. This right is given on the condition that: (i) any such marketing materials accurately reflect the nature
of the business relationship created by this Agreement, and (ii) any such marketing materials do not disclose any Confidential Information
pursuant to the terms set forth in Section 5 hereof. Any press releases or public statements by either party that pertains to this Agreement
and/or the relationship of the parties contemplated herein shall require the mutual written consent of both parties, which shall not
be unreasonably withheld or delayed.

 

9.3
Governing Law; Arbitration.

 

9.3.1
Intentionally Deleted.

 

9.3.2 
All claims, demands, disputes, differences, controversies, and misunderstandings arising under, out of, in connection with, or
in relation to this Agreement, including the Appendices, shall be submitted to, and shall be determined by binding arbitration in accordance
with the latest Commercial Arbitration Rules of the American Arbitration Association, in the event that mediation or other informal methods
of dispute resolution fail to resolve such claims and disputes. All arbitration proceedings arising under this Agreement shall be brought
exclusively in the State of HawaiiThe provisions of this Section 9.3.2 notwithstanding, it is expressly agreed that a material breach
of the provisions of Section 5 hereof by a party could cause irreparable harm to the non-breaching party and that a remedy at law would
be inadequate. Therefore, in addition to any and all remedies available at law, the non-breaching party shall be entitled to seek an
injunction or other equitable remedies (temporary, preliminary and/or permanent) in all legal proceedings in the event of any threatened
or actual violation of any or all of the provisions hereof. In the event of such a proceeding, the law of the venue in which the proceeding
is commenced shall be the governing law. The arbitrator shall have no right to award any equitable relief of any kind.

 

9.4 
Severability and Waiver. If any provision, in part or whole, of this Agreement is or becomes illegal, unenforceable, or
invalidated, by operation of law, rule, regulation or otherwise, that provision or part will to that extent be deemed omitted, and the
remainder of this Agreement will remain in full force and effect. Any waiver by either party of any condition, term, part or provision
of this Agreement will not be construed as a waiver of any other condition, term, part or provision of this Agreement, nor will the waiver
be construed as a waiver of such condition, term, part or provision in any future event or circumstance.

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

9.5  Independent
Contractor. Each party’s relationship with the other party is that of an independent contractor, and not that of an agent,
joint venture or partner of the other party. Neither party nor its agents and employees are the representatives of the other party
for any purpose and will not have, and will not represent that they have, any right or authority to bind the other party or to
assume or create any obligation, express or implied, on behalf of the other party.

 

9.6 
Third Parties. Except as otherwise set forth in this Agreement, this Agreement is solely between the parties hereto and
is not intended to be enforceable by any third parties, nor to create any express or implied rights hereunder of any nature whatsoever
for any third parties.

 

9.7 
Notices.All formal notices and contractual communications required or permitted under this Agreement shall be in writing
and delivered personally, mailed by certified, first class mail, return receipt required and full postage prepaid, or sent using a nationally
recognized overnight courier with ability to track receipt, to the following address(es) and addressee(s):

 

If
to NUVO:

 

NUVO GROUP USA INC.

252 Nassau St.

Princeton, NJ 08542 Attention: Oren Oz, CEO

Email: [***]

 

With
a copy to:

 

Greenberg Traurig LLP 200 Park
Avenue

New York, NY 10076

Attention:
[***]

[***]

 

If
to [***]:

 

[***]

[***]

[***]

Attention: Legal Dept.

Email: [***]

 

With
a copy to:

 

[***]

[***]

Email: [***]

 

Notices shall be deemed given on the date delivered
or when receipt, in the manner specified, is recorded. Each party may change or supplement the address(es) or addressee(s) for notice
hereunder, by written notice.

 

9.8 
Force Majeure. Neither party will be liable to the other, nor will either party have the right to terminate this Agreement,
as a result of the other party’s delay or failure to perform any of its obligations hereunder during any period in which its performance
is delayed or prevented by circumstances beyond its reasonable control.

 

9.9 
Entire Agreement. This Agreement constitute the complete agreement of the parties and supersedes any other agreement, representations,
warranties, understandings and any negotiations or other communications, written or oral, between the parties relating to the subject
matter of this Agreement. This Agreement can only be modified by a writing signed by the authorized representatives of [***] and Nuvo,
and none of the terms and conditions of any other purchase or order form, invoice or similar document will change this Agreement unless
signed by both parties and indicating they intended to vary the terms hereof.

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

9.10 
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same Agreement. This Agreement shall not become valid or effective or a binding obligation
on any party until duly executed by all of the parties.

 

Please
confirm your agreement to the terms and conditions contained in this Agreement (including those provided in each Exhibit appended hereto)
by executing below.

 

	 	Very truly yours,

	 	 
	 	NUVO GROUP USA INC.
	 	 
	 	By: 	[***]
	 	 	[***]

 

	ACCEPTED AND AGREED

AS OF THE DATE SET FORTH
ABOVE:
	 
	 	 
	[***]
	 
	 	 
	By: 
	/s/ Authorized Signatory
	 
	 
	[***]
	 

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

EXHIBIT A – DESCRIPTION OF
Invu by Nuvo

 

The following components are included within Invu and
will be deployed in connection with the Pilot:

 

		1.	Device Bundle

 

		a.	Invu Sensor Band – a wearable, self-administrable band
that wraps the pregnant patient’s abdomen and captures high-fidelity raw biopotential, acoustic, and movement signals from mother
and fetus

 

		b.	[***]

 

		2.	Cloud Engine

 

		a.	Cloud computation of the processing of raw signals for the
expressed purpose of wellness visit (fetal and maternal heart tone capture, and BP readings).

 

		b.	Cloud computation available during predefined Virtual Visit
hours (e.g. 9am – 2pm EST, and defined in the Pre-Pilot Activities)

 

		3.	Interfaces

 

		a.	Invu (patient-facing application) – available on iOS
and Android. Invu displays meaningful, but not actionable, data.

 

		b.	Invu Pro (provider-facing application) – web-based
application, for patient management portal of all patients using Invu to conduct remote prenatal visits, and to view inbound data during
Virtual Prenatal Visits

 

		4.	Shipping/logistics

 

		a.	Direct shipping of Device Bundle to patient’s home

 

		b.	Shipping label for patient to return Device Bundle to Nuvo

 

		5.	Customer/Technical Support

 

		a.	Customer/technical support available during the predefined
Virtual Clinic hours

 

		b.	Support available related to both the Device Bundle and the
Interfaces (patient- facing and provider-facing)

 

		c.	Support available for both [***] patients as well as [***]
personnel

 

    10

     
CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

A visual display of the Offering included for the Pilot is
outlined below:

 

[***]

 

[***]

 

[***]

 

[***]

 

    11

     
CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

EXHIBIT B

Pre-Pilot Roadmap

 

The following initiatives, described below, outline
preliminary activities required from both parties before pilot run-time.

 

		1.	Documentation:

 

		·	Nuvo to deliver a Formal Quote that will be matched by a
Purchase Order from its procurement department

 

		·	Nuvo and [***] to move towards a Letter of Intent that will
position the Pilot defined here as part of an overarching mutual ambition and intention. The goal will be to sign the LOI prior to the
completion of the project.

 

		2.	Pre-Pilot Activities:

 

		·	Change Management Session: Nuvo to conduct a Learning and
Feedback session with the intended [***] prescribers and users of the Invu platform to gauge questions and concerns.

 

		·	Interface training- teaching nurses/physicians how to use
Invu Pro, add new patients, review remote sessions, provide remote diagnosis. Review what the patient is viewing on her end via patient-facing
mobile Invu app;

 

		·	Customer/Technical support training – exploration of
the question/answer matrix Nuvo will be delivering to patients during Pilot. Methodology of how to revert clinical questions from Nuvo
to [***], and technical questions from [***] to Nuvo.

 

		3.	Validation Trial

 

		·	5 patients trial of end-to-end data transfer, supplemental
to standard of care routine procedures, to ensure that data capture and delivery functions as advertised. Each of the 5 patients may
conduct up to 5 home sessions, for a total of [***] sessions total, maximum.

 

All abovementioned activities are subject to modification
assuming both activities.

 

Project Manager:

 

		·	Nuvo: [***]

 

		·	[***]: [***]

 

    12

     
CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

EXHIBIT C – PILOT

 

[***]

 

[***]

 

[***]

 

The following metrics will be evaluated by the parties
in assessing transition to the Broader Expansion Launch:

 

		1.	Reduction of patient transportation. Instances where
patients are not required to travel to a physical clinic and instead conduct remote sessions (i.e. all successful remote monitoring sessions)
will be extrapolated for payers’ use, including Medicaid, to determine saved sharing opportunities by reducing flights and airlifts
for prenatal care.

 

		2.	Provider acceptance. At conclusion of the project
run-time, nurses, physicians and physician assistants that used the platform will be asked to fill out a pre-defined usability and functionality
survey.

 

		3.	Patient acceptance. A subset of the enrolled patients
during Pilot, of up to [***] patients, will be asked to fill out a predefined survey, to assess the patient’s overall experience
and improved convenience/satisfaction from using Invu.

 

		4.	Reduced attributable operational inefficiencies and certain
costs. [***] to evaluate the comparable time and resources allocated for in-clinic prenatal visits as opposed to prenatal visit conducted
using the Invu platform, as time/resource allocation that could otherwise be allocated towards additional or alternative billable procedures.
[***] to evaluate the reduction in PPE and other related disposable components by conducting prenatal visits via a remote platform compared
to the otherwise in-clinic prenatal visit.

 

		5.	Reduction of exposure from COVID-19 positive or suspected
positive patients to [***] personnel. All confirmed positive or suspected positive COVID-19 patients that are issued Invu will be
documented, and every instance that a prenatal visit is conducted remotely as opposed to in-clinic will be recorded as a discrete instance.
This metric will be met with n�1 instances.

 

		6.	Parity health outcomes. The patients enrolled in Invu
may not have worse health outcomes, of statistically significant relevant, than comparable patient counterparts.

 

Metrics
will be jointly monitored by [***] and Nuvo. Any disagreement over the interpretation of the metrics will be escalated to senior data
scientists in both organizations who will work collaboratively establish a joint understanding and position.

 

The
primary metric that will determine the transition to Broader Expansion will be the reduction in transportation instances for patients,
that will be extrapolated for payers including Medicaid to determine saved sharing opportunities by reducing flights and airlifts. All
other metrics will be monitored as foundational evidence for broader [***] acceptance.

 

Pilot Project Manager:

 

		·	Nuvo: [***]

 

		·	[***]: [***]

 

    13

     
CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

EXHIBIT D – PILOT
FEES

 

For
each [***] patient that is enrolled in Invu, [***] will pay to Nuvo a per patient fee of $[***]. The maximum fee payable to Nuvo (based
on 50 patients) is $[***]. The Invu Fee shall be paid as follows:

 

		(i)	Nuvo to invoice [***] for the entirety of the 50 patients
at the start of the Pre-Pilot Period, following a Purchase Order from [***];

 

		(ii)	[***] to pay [***] up front based on the payment terms set
forth in Section 3;

 

		(iii)	[***] to pay [***] upon completion of the Pilot Period (subject
to any adjustments if there are ultimately less than 50 patients enrolled at the end of the period)

 

Nuvo
hereby acknowledges that the Invu Fee shall cover all of the components comprising the Invu bundle/protocol that each enrolled patient
will receive, as outlined in Exhibit A

 

    14

     
CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

EXHIBIT E – BUSINESS
ASSOCIATE AGREEMENT

 

-Attached Hereto-

 

    15

     
CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED AS [***].

    

 

EXHIBIT F – INSURANCE REQUIREMENTS

 

During
the Term of this Agreement, Nuvo shall maintain at its own expense, product liability insurance coverage (including an extension for
human clinical trials) for bodily injury, death and property loss and damage on a claims made basis covering Nuvo for damages arising
out of its products, with [***] and each applicable Affiliate member listed as an additional insured (subject to the insurer’s
prior approval). All policies of insurance shall provide for coverage on a claims-made basis in the minimum amount of [***] per occurrence
with an aggregate of [***] for the policy period. Upon [***] written request, Nuvo shall provide [***] with a copy of all certificates
of insurance, evidencing Nuvo’s insurance coverage.

 

    16Exhibit 10.17

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

	FDP Data Transfer and Use Agreement (“Agreement”)
	Provider: University of Utah	Recipient: NUVO-GROUP LTD.
	
    Provider Scientist

Name: [***]

Email: [***]

	
    Recipient

Name:[***]

Email:[***]

	
    Agreement Term

     

    Start Date: Date of last signature below

     
	
    Project Title: 
	Emotion dysregulation across
    generations: Identifying early developmental and clinical indicators of risk

     

	End Date: Three (3) Years after the Start Date	
    Attachment 2 Type:
	De-identified Data about
    Human Subjects

     

 

Terms and Conditions

 

		1)	Provider shall provide the data set described in Attachment
1 (the “Data”) to Recipient for the research purpose set forth in Attachment 1 (the “Project”). [***].

 

		2)	If applicable, reimbursement of any costs associated with
the preparation, compilation, and transfer of the Data to the Recipient will be addressed in Attachment 1.

 

		3)	Recipient shall not use the Data except as authorized under
this Agreement. The Data will be used solely to conduct the Project and solely by Recipient Scientist and Recipient’s faculty,
employees, fellows, students, and agents (“Recipient Personnel”) and Collaborator Personnel (as defined in Attachment 3)
that have a need to use, or provide a service in respect of, the Data in connection with the Project and whose obligations of use are
consistent with the terms of this Agreement (collectively, “Authorized Persons”).

 

		4)	Except as authorized under this Agreement or otherwise required
by law, Recipient agrees to retain control over the Data and shall not disclose, release, sell, rent, lease, loan, or otherwise grant
access to the Data to any third party, except Authorized Persons, without the prior written consent of Provider. Recipient agrees to
establish appropriate administrative, technical, and physical safeguards to prevent unauthorized use of or access to the Data and comply
with any other special requirements relating to safeguarding of the Data as may be set forth in Attachment 2.

 

		5)	Recipient agrees to use the Data in compliance with all applicable
laws, rules, and regulations, as well as all professional standards applicable to such research.

 

		6)	Recipient is encouraged to make publicly available the results
of the Project. Before Recipient submits a paper or abstract for publication or otherwise intends to publicly disclose information about
the results of the Project, the Provider will have [***] from receipt to review proposed manuscripts and [***] from receipt to review
proposed abstracts to ensure that the Data is appropriately protected. Provider may request in writing that the proposed publication
or other disclosure be delayed for up to thirty (30) additional days as necessary to protect proprietary information.

     

     

    
 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		7)	Recipient agrees to recognize the contribution of the Provider
as the source of the Data in all written, visual, or oral public disclosures concerning Recipient’s research using the Data, as
appropriate in accordance with scholarly standards and any specific format that has been indicated in Attachment 1.

 

		8)	Unless terminated earlier in accordance with this section
or extended via a modification in accordance with Section 13, this Agreement shall expire as of the End Date set forth above. Either
party may terminate this Agreement prior to the End Date either (i) upon the mutual written agreement of the parties to terminate this
Agreement or (ii) upon the material breach of the other party which remains uncured for [***] after such breaching party is put on notice
of such breach. Upon expiration or early termination of this Agreement, Recipient shall follow the disposition instructions provided
in Attachment 1; provided, however, that Recipient may retain one (1) copy of the Data to the extent necessary to comply with the records
retention requirements under any law, and for the purposes of research integrity and verification.

 

		9)	Except as provided below or prohibited by law, any Data delivered
pursuant to this Agreement is understood to be provided “AS IS.” PROVIDER MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES
OF ANY KIND, EITHER EXPRESSED OR IMPLIED. THERE ARE NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FORA PARTICULAR PURPOSE,
OR THAT THE USE OF THE DATA WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK, OR OTHER PROPRIETARY RIGHTS. Notwithstanding, Provider,
to the best of its knowledge and belief, has the right and authority to provide the Data to Recipient for use in the Project.

 

		10)	Except to the extent prohibited by law, the Recipient assumes
all liability for damages which may arise from its use, storage, disclosure, or disposal of the Data. The Provider will not be liable
to the Recipient for any loss, claim, or demand made by the Recipient, or made against the Recipient by any other party, due to or arising
from the use of the Data by the Recipient, except to the extent permitted by law when caused by the gross negligence or willful misconduct
of the Provider. No indemnification for any loss, claim, damage, or liability is intended or provided by either party under this Agreement.

 

		11)	Neither party shall use the other party’s name, trademarks,
or other logos in any publicity, advertising, or news release without the prior written approval of an authorized representative of that
party. The parties agree that each party may disclose factual information regarding the existence and purpose of the relationship that
is the subject of this Agreement for other purposes without written permission from the other party provided that any such statement
shall accurately and appropriately describe the relationship of the parties and shall not in any manner imply endorsement by the other
party whose name is being used.

    2

     

    
 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		12)	Unless otherwise specified, this Agreement and the below
listed Attachments embody the entire understanding between Provider and Recipient regarding the transfer of the Data to Recipient for
the Project:

 

		I.	Attachment 1: Project Specific Information

 

		II.	Attachment 2: Data-specific Terms and Conditions

 

		III.	Attachment 3: Identification of Permitted Collaborators (if
any)

 

		13)	No modification or waiver of this Agreement shall be valid
unless in writing and executed by duly-authorized representatives of both parties.

 

		14)	The undersigned Authorized Officials of Provider and Recipient
expressly represent and affirm that the contents of any statements made herein are truthful and accurate and that they are duly authorized
to sign this Agreement on behalf of their institution.

 

	By an Authorized Official of Provider:	By an Authorized Official of Recipient:
	 	 	 	 
	[***] /s/ Authorized Signatory

	/s/ Oren Oz

	 	 	 	 
	Name:	[***]	Name:	Oren Oz
	Title:	Director, Office of Sponsored Projects	Title:	CEO
	 	 	 	 
	Contact Information for Formal Notices:	Contact Information for Formal
    Notices:
	Name:	[***]	Name:	[***] 

	Address: 	75 South 2000 East, RAB 
 Salt Lake City, UT 84112-8930

 

	Address: 	Yigal Alon 94 
 Alon Tower 1 
 Tel Aviv, Israel 6789155

	[***]:	[***]	Email:	[***] 

	[***]:	[***]	 	 

    3

     

    
 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

	
    Attachment 1

Data Transfer and Use Agreement

Project Specific Information

 

		1.	Description of Data:

 

All
data derived from the Project (e.g., data subject usage of Recipient’s INVU system and beyond) including without limitation, fetal
and maternal heart rate that is obtained from pregnant women in their third trimester. These women have no major medical complications.
We will obtain data from [***]. The data are obtained under the IRB-approved study: “Emotion dysregulation across generations:
Identifying early developmental and clinical indicators of risk”.

 

		2.	Description of Project

 

NUVO has developed and owns a proprietary prenatal remote
monitoring system known as “INVU” (the “System”) which, generates/collects various forms of diagnostic fetal data
arising from patient usage and can be made available to research facilities and institutions for the purpose of carrying out pregnancy-related
research. The University of Utah will recruit pregnant women with a wide range of emotion dysregulation during their third trimester,
conduct physiological assessments of mood and stress in the home, conduct newborn neurobehavioral exams at birth, and follow-up with mothers
and infants postpartum at 7 and 18 months.

 

		3.	Provider Support and Data Transmission:

 

Provider
shall transmit the Data to Recipient: (select one) ☒ electronically
or ☐ by mail to:

 

	Name:	 
	Address:	 
	Email:	 
	Phone:	 

 

Upon
execution of this Agreement, Provider shall send any specific instructions necessary to complete the transfer of the Data to the contact
person listed above, if not already included below in this section of Attachment 1.

 

Subject
to payment INVU will during the DTA term (1) provide the system (by way of three (3) devises and all supporting System components) to
institution for use by Study Participants, and additional components, such as technical support and access to digital tools, shall be
determined pursuant to a SOW or Addendum, as applicable, (2) make available to institution the INVU Data comprised of the maternal/fetal
heartrates collected from Study Participants’ usage of the System (collectively, the “Participant HR Data”).

 

    4

     

    

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		4.	Reimbursement of Costs:

 

[***]

 

	[***]	 

 

	[***]	 

 

	[***]	 

 

		☐	As set forth herein:

 

 

 

 

 

		5.	Disposition Requirements upon the termination or expiration of
the Agreement: 

 

Instructions
to the drafter; delete after completion of this section:

 

Upon
any termination: [***]

 

    5

     

    

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

	

Attachment 3

Data
Transfer and Use Agreement 

Identification of Permitted Collaborators (if any)

 

For
all purposes of this Agreement, the definition of “Collaborator Personnel” checked below will pertain:

 

[***]

 

[***]

 

[***]

 

[***]

 

    6

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