Document:

EX-10.29

 Exhibit 10.29 

RIGHT OF USE AGREEMENT 
 This Right of Use
Agreement (“Agreement”), effective as of November 1, 2019 (the “Effective Date”), is by and between Paragon Biosciences, LLC, a Delaware limited liability company (“Paragon”), and Castle Creek Pharmaceuticals, LLC,
a Delaware limited liability company (the “Portfolio Company”). 
 Recitals 

WHEREAS, Paragon and the Portfolio Company are both engaged in the Healthcare industry. 

WHEREAS, the Portfolio Company is one of Paragon’s portfolio companies. 

WHEREAS, there is benefit to both Paragon and the Portfolio Company for the Portfolio Company, together with current and future Paragon portfolio companies,
to use office space in Paragon’s Innovation Center located at 330 N. Wabash Street, Suite 3500, Chicago, Illinois 60611 (the “Paragon Innovation Center”). 

Agreement 
 In consideration of the
foregoing recitals and the covenants and fees set forth herein and subject to the Terms & Conditions attached hereto and the Portfolio Company’s Paragon Innovation Center rules and regulations as in effect during the Term
(“Paragon’s Rules & Regulations”), together with any Addenda hereto, Paragon shall grant the Portfolio Company a license to use on a non-exclusive basis, together with Paragon and other
current and future Paragon portfolio companies, one or more offices in the Paragon Innovation Center (referred to herein as the “Office”), and the facilities and services of the Paragon Innovation Center (together with the Office,
sometimes collectively referred to herein as the “accommodation”), upon and subject to the terms set forth below. 
 The basic terms of this
Agreement are as follows: 
 TERM 
 The term of this
Agreement shall commence on the Effective Date and end on December 31, 2020 (the “Initial Term”), subject to (a) early termination by either party for any or no reason on at least thirty (30) days’ prior written notice
and (b) automatic renewals for subsequent twelve (12) month periods (each, a “Renewal Term”) in the event that neither party provides written notice of non-renewal to the other party at
least thirty (30) days prior to the expiration of the Initial Term or Renewal Term, as the case may be. The “Term” of this Agreement shall mean the Initial Term and any Renewal Term, as the case may be. 

PAYMENTS 
 On or before February 1, 2020, the
Portfolio Company shall pay to Paragon one lump-sum payment of $500,000, together with interest thereon which shall accrue from the Effective Date through the date of payment hereunder at an interest rate of
3% per annum, compounded annually (based on a 365 day year), with respect to the Portfolio Company’s allocation of Paragon’s incremental operating expenses incurred to develop the Paragon Innovation Center. 

 During the Term, the Portfolio Company shall pay to Paragon $25,401 per calendar month (which amount may be
increased or decreased from time to time by mutual written agreement of the parties) (the “Monthly Office Charge”), payable on or before the 15th day of each such calendar month. 

In addition, during the Term, the Portfolio Company shall pay to Paragon $3,333.33 per calendar month for the Portfolio Company’s allocated share of the
Paragon Innovation Center daily operating expenses and utilities (which amount may be increased or decreased from time to time by mutual written agreement of the parties) (the “Monthly Operating Charge”). 

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

 

									
	PARAGON BIOSCIENCES, LLC	 		 	          CASTLE CREEK PHARMACEUTICALS, LLC

									
					
	By:	 	/s/ Patrick J. Morris	 		 	By:	 	/s/ Greg Wujek

									
	Name:	 	Patrick J. Morris	 		 	Name:	 	Greg Wujek

									
	Its:	 	EVP, Legal Affairs & GC	 		 	Its:	 	Chief Executive Officer

 TERMS & CONDITIONS 

1. NATURE OF THE AGREEMENT: 
 1.1. This Agreement is the
commercial equivalent of an agreement for an accommodation in a hotel.    The Paragon Innovation Center remains Paragon’s property and in Paragon’s possession and control. The Portfolio Company acknowledges that this
Agreement is a license agreement and creates no tenancy interest, leasehold estate or other real property interest with respect to the accommodation and shall not be deemed or construed in any way to create a partnership or relationship of landlord
and tenant between the parties hereto. Use of workstations (offices, cubicles or other work spaces) is subject to availability and may change at Paragon’s discretion. The Portfolio Company will not be guaranteed the same or dedicated space
during the contract period. THE PORTFOLIO COMPANY HEREBY WAIVES ANY AND ALL NOTICES TO CURE (EXCEPT AS EXPRESSLY SET FORTH IN SECTION 4.1 HEREOF), VACATE OR QUIT THE OFFICE. 

1.2. The Agreement is personal to the Portfolio Company and cannot be transferred or assigned to any other party, unless written request of such assignment is
submitted to Paragon and Paragon agrees to such assignment, which will be at Paragon’s sole discretion, and the Portfolio Company will not permit occupancy or use of any part of the Office or the Paragon Innovation Center by any persons other
than the Portfolio Company, its agents and employees. 
 1.3. Subject to all Terms & Conditions, Paragon’s Rules & Regulations and
any Exhibits or Addenda hereto, Paragon is granting the Portfolio Company a license for the use of the accommodations specified in this this Agreement. All utilities, including any telephones and IT/data connection(s) outlined in this Agreement,
shall be provided to the accommodation without additional expense to the Portfolio Company. 
 1.4. In the event the Paragon Innovation Center is no longer
available and Paragon is permanently unable to provide the accommodations at the Paragon Innovation Center as stated in this Agreement, this Agreement will end and the Portfolio Company will only be obligated to pay monthly fees up to the date this
Agreement ends and for the additional services the Portfolio Company has used.. 
 1.5. Paragon can enter the Portfolio Company’s Office at any time.

 1.6. The Portfolio Company, its agents, employees and invitees, agree to abide by and observe the rules and regulations of Paragon’s lease (the
“Lease”) with the owner of the building (“Landlord”) in which the Paragon Innovation Center is located (the “Building”). The Portfolio Company’s Agreement is subordinate to the Lease and to any other agreements to
which the Lease is subordinate. This Agreement terminates, if not earlier, simultaneously with the expiration or sooner termination of the Lease for any reason. The Portfolio Company does not have any rights under the Lease (and all requests for
building services shall be directed solely to Paragon), although the Portfolio Company\ will attorn to Landlord in such cases as may be required by the terms of the Lease or requested by Paragon or Landlord. 

 1.7. Paragon may assign this Agreement and the Portfolio Company agrees to accept any such assignee. Upon
any such assignment, Paragon will be discharged from all liability hereunder. 
 1.8. All notices or other communications, except for service of process,
must be in writing and shall be deemed duly given if delivered in person, or by a nationally-recognized commercial delivery service. 
 1.9. This Agreement
shall be interpreted under the laws of the State of Illinois, without regard to conflicts of law. THE PORTFOLIO COMPANY HEREBY EXPRESSLY AND KNOWINGLY WAIVES ANY AND ALL RIGHT TO A JURY TRIAL IN ANY ACTION OR SUIT ARISING OUT OF THIS AGREEMENT OR
THE PERFORMANCE OR NON-PERFORMANCE HEREOF. 
 1.10. The Portfolio Company must pay any reasonable and proper costs
including legal fees that Paragon incurs in enforcing this Agreement. 
 1.11. This Agreement supersedes any prior agreement and embodies the entire
agreement between the Portfolio Company and Paragon with respect to the subject matter hereof. This Agreement is an arm’s length transaction between disinterested parties. There shall be no presumption of construction against the drafter of
this Agreement. 
 1.12. The Portfolio Company and Paragon acknowledge and agree that neither Landlord, nor Landlord’s agent, are parties to this
Agreement and neither of them shall have any contractual liability or duty to the Portfolio Company by virtue of this Agreement, and that this Agreement shall not affect the rights and obligations between Paragon and Landlord. 

2. USE AND OCCUPANCY: 
 2.1. The Portfolio Company agrees to use
and occupy the Office solely for general office purposes. The Portfolio Company will only conduct business in the name as stated on the first page of this Agreement or some other name that Paragon has previously approved in writing. 

2.2. The Portfolio Company agrees to comply, at its expense, with all applicable laws, orders, regulations and rules, pertaining to the use and occupancy of
the Office, and the conduct of the Portfolio Company’s business. The Portfolio Company must conduct its business so as not to interfere with the use of the Paragon Innovation Center by Paragon or other Paragon portfolio companies or their
respective agents, employees or invitees, and the tenants of the Building and so as not to detract from the appearance of the Paragon Innovation Center. The Portfolio Company must comply with Paragon’s safety standards, with Paragon’s
Rules & Regulations and the Building’s rules and regulations. The Portfolio Company may not cause any nuisance or annoyance, cause the increase of insurance premiums Paragon has to pay, or cause loss or damage to Paragon (including
damage to Paragon’s reputation) or to Paragon’s Landlord. The Portfolio Company acknowledges that (a) the terms of the this Section 2.2 are a material inducement in Paragon’s execution of the Agreement and (b) any
violation by the Portfolio Company of this 

 
Section 2.2 shall constitute a material default by the Portfolio Company hereunder, entitling Paragon to terminate this Agreement without further notice or procedure. 

2.3. The Portfolio Company agrees to pay promptly (i) all sales, use, excise, consumption and any other taxes and license fees which the Portfolio
Company is required to pay to any governmental authority (and, at Paragon’s request, will provide evidence of such payment) and (ii) any taxes paid by Paragon to any governmental authority that are attributable to this Agreement, or the
accommodations provided hereunder, including, without limitation, any gross receipts, rent and occupancy taxes, or tangible personal property taxes. 
 2.4.
The Portfolio Company shall make no alterations or modifications in or to the Office, including, without limitation, affixing any signs or postings, and any door locks, without Paragon’s prior written consent (which Paragon may grant or
withhold in its sole discretion). In the event that alterations or modifications are made without Paragon’s prior written consent, Paragon may, at Paragon’s option, correct or remove the same at the Portfolio Company’s sole cost and
expense. 
 2.5. All keys and entry cards remain Paragon’s property and shall not be duplicated or transferred to third parties. The loss of keys or
cards must immediately be reported to Paragon. The Portfolio Company will be responsible for the cost of lost keys or cards as well as the cost of changing locks. 

2.6. The Portfolio Company may not have any advertising of any type using the address of the Paragon Innovation Center without Paragon’s prior written
consent (which Paragon may grant or withhold in its sole discretion). Use of the address on business cards, websites, and other standard business practices are acceptable without written consent. 

2.7. The Portfolio Company shall not, without Paragon’s prior written consent (which Paragon may grant or withhold in its sole discretion), store or
operate any computer equipment (except personal computer equipment) or any other large business machines, reproduction equipment, heating equipment, stove, mechanical amplification equipment, vending or coin-operated machines, refrigerator or coffee
equipment. 
 2.8. The Portfolio Company may not install any cabling, IT or telecom connections without Paragon’s prior written consent (which Paragon
may grant or withhold in its sole discretion). As a condition of Paragon’s consent, the Portfolio Company will permit Paragon to oversee any installations (for example, IT or electrical systems) to verify that such installations do not
interfere with the use of the Paragon Innovation Center by Paragon, other the Paragon portfolio companies or Landlord. Paragon’s consent may also be conditioned upon the payment of additional fees for installation and/or usage of such cabling,
and/or the requirement that the Portfolio Company remove the cabling, etc. All cables in the ceiling or walls of the Paragon Innovation Center shall become Paragon’s property. 

2.9. The electrical current shall be used for ordinary lighting, powering personal computer equipment and small appliances only. If the Portfolio Company
requires any special installation or wiring for electrical use, telephone equipment or otherwise, such wiring shall be done with Paragon’s prior written approval, at the Portfolio Company’s sole expense by a company

 
approved by Paragon. The Portfolio Company shall not install or operate any equipment or machinery that requires a separate electrical circuit or consumes higher than normal and reasonable
quantities of electricity. 
 3. LATE PAYMENTS 
 3.1. Paragon
may charge the Portfolio Company a late payment charge equal to [10%] of the arrearage with respect to any payment that is due and payable under this Agreement but is not paid when due. [DARIEN] 10% is OK  

4. DEFAULT AND TERMINATION: 
 4.1. Paragon may terminate this
Agreement immediately by giving the Portfolio Company notice and without need to follow any additional procedures if: (a) the Portfolio Company becomes insolvent, bankrupt, goes into liquidation or becomes unable to pay its debts as they become
due, or (b) the Portfolio Company is in breach of one of the Portfolio Company’s obligations under this Agreement which cannot be cured or which Paragon has given the Portfolio Company notice to cure and which the Portfolio Company has
failed to cure within thirty (30) days after written notice of such breach. 
 4.2. Paragon shall have the right to terminate the Agreement immediately
if the Portfolio Company is or becomes (i) identified on the Specially Designated Nationals and Blocked Person List maintained by the U.S. Department of the Treasury Office of Foreign Assets Control or any similar list or (ii) a person,
entity, or government with whom a citizen of the United States is prohibited from engaging in transactions by any trade embargo, economic sanction, or other prohibition of United States law, regulation or Executive order of the President of the
United States. 
 4.3. If Paragon terminates the Agreement for any of the reasons described in the immediately preceding paragraphs, the Portfolio Company
shall remain responsible for its outstanding obligations under this Agreement. The Portfolio Company may, in addition to any other obligations contained herein, be required to pay the amounts set forth in this Agreement for the remainder of the Term
if Paragon had not so terminated this Agreement, or for a further period of three months, whichever is longer. In such event, Paragon may also take possession of the Office. 

4.4. A waiver by either Paragon or the Portfolio Company of a breach (or series of breaches) of any covenant or obligation under this Agreement of the other
party shall not be construed to be a waiver of any other covenant or obligation or of any subsequent breach of the same covenant or obligation. Notwithstanding the Paragon’s reservation of any particular remedy hereunder, Paragon hereby
reserves each and every remedy available at law or in equity in the event of a breach by the Portfolio Company hereunder. 
 4.5. Upon the expiration or
termination of the Agreement, the Portfolio Company’s right to occupy the Office and use the Paragon Innovation Center is revoked and the Portfolio Company will remove all of its property and return the Office and furniture in the same
condition in which it was 

 
delivered to the Portfolio Company, subject to reasonable wear and tear. Any personal property left in the Office will be considered abandoned and Paragon may dispose of it without any liability
to the Portfolio Company. All telephone and facsimile numbers are Paragon’s property and cannot be transferred to the Portfolio Company at the expiration or termination of the Agreement. 

4.6. For a period of 30 days after the expiration or termination of this Agreement, Paragon will redirect the Portfolio Company’s mail upon receipt to an
address provided in writing by the Portfolio Company at no charge and shall place a recorded message on the Portfolio Company’s telephone line providing the Portfolio Company’s new telephone number, as provided by the Portfolio Company in
writing to Paragon, at no charge. Thereafter, Paragon shall have no obligation whatsoever to forward mail to the Portfolio Company or provide phone service. 

4.8. If the Portfolio Company continues to occupy the Office after the Term of this Agreement has ended, the Portfolio Company will be responsible for any
loss, claim or liability Paragon incur as a result of the Portfolio Company’s failure to vacate on time. Paragon may, at Paragon’s discretion, permit the Portfolio Company an extension subject to a surcharge on the Monthly Office Charge
and the Monthly Operating Charge. 
 4.9. If the Paragon Innovation Center is made unusable in whole or in part by fire or other casualty or condemnation,
Paragon may, at Paragon’s option, either terminate this Agreement upon notice to the Portfolio Company, or repair the Paragon Innovation Center. 
 5.
LIABILITY: 
 5.1. To the maximum extent permitted by applicable law, Paragon is not liable to the Portfolio Company in respect of any loss or damage the
Portfolio Company suffers in connection with this Agreement or in connection with the services or the accommodations. Without limitation of the foregoing, Paragon is not liable for any loss or damage as a result of Paragon’s failure to provide
any service or accommodation under this Agreement as a result of mechanical breakdown, strike, termination of Paragon’s Lease, or otherwise. 
 5.2.
PARAGON WILL NOT UNDER ANY CIRCUMSTANCES HAVE ANY LIABILITY FOR LOSS OF BUSINESS, LOSS OF PROFITS, LOSS OF ANTICIPATED SAVINGS, LOSS OF OR DAMAGE TO DATA OR ANY CONSEQUENTIAL DAMAGES. 

5.3. The Portfolio Company assumes all risk of loss with respect to the Portfolio Company’s personal property and the Portfolio Company’s agents,
employees and invitees within the Paragon Innovation Center or the Building. [During the Term of this Agreement, the Portfolio Company will maintain with a respectable insurer licensed to do business in the state and subject to Paragon’s
approval (a) all risk property insurance covering the Portfolio Company’s property and (b) comprehensive general liability insurance of no less than $1,000,000, with Paragon, the Landlord and any other
parties designated by Paragon named as additional insured. The Portfolio Company will deliver certificates of insurance to Paragon evidencing such coverage prior to the commencement of this Agreement and any expiration date of such policy.] 

 5.4. To the extent that the party sustaining a loss by fire or other casualty to its property is compensated
by insurance, Paragon and the Portfolio Company will each waive all rights of recovery against the other party and no third party shall have any right of recovery. 

5.5. Notwithstanding any term to the contrary, Paragon shall not be held liable to the Portfolio Company under this Agreement if Paragon is prevented from, or
delayed in, performing Paragon’s obligations under this Agreement or from carrying on Paragon’s business by acts, events, omission or accidents beyond Paragon’s reasonable control, including (without limitation): strikes, failure of a
utility service or network; act of God, war, riot, civil commotion, disease or quarantine restrictions in compliance with any law or governmental rule, regulation or direction, accident, fire, floor or storm or default of suppliers or
subcontractors.    Paragon’s obligation to perform its obligations under this Agreement shall be suspended during the period required to remove such force majeure event. 

5.6. To the fullest extent permitted by law, the Portfolio Company agrees to hold Paragon and its other portfolio companies and their respective agents,
employees, contractors, officers, directors and Landlord harmless from and against any and all claims of loss, costs, liability and expense, including reasonable attorneys’ fees and disbursements (the “Claims”), arising from or
alleged to arise from (a) any default by the Portfolio Company hereunder, (b) the use or occupancy of the Paragon Innovation Center by the Portfolio Company or any person claiming under the Portfolio Company, or (c) the Portfolio
Company’s negligence or the negligence of the Portfolio Company’s agents, employees, contractors, officers or directors.EX-10.30

 Exhibit 10.30 

 
 

 
 CONFIDENTIAL 

June 9, 2021 
 Castle Creek Biosciences, Inc. 

405 Eagleview Blvd 
 Exton, PA 19341 

 

			
	Attention:	 	Matt Gantz, CEO
		 	Pat Morris, General Counsel, Paragon Biosciences

 Dear Matt and Pat: 

This letter (the “Agreement”) will confirm our understanding that Paragon Health Capital, LLC (“PHC”) has been hired to
serve as the financial advisor to Castle Creek Biosciences, Inc. and/or its affiliates, subsidiaries or related companies that exist today or which may be created by you (“CCB” or the “Company”). This Agreement supersedes all
prior agreements with CCB including the letter dated November 2, 2020. 
 1. Services. In its capacity as financial advisor, PHC’s primary
objectives may include providing strategic, tactical and/or financial advisory services relating to one or more acquisitions, debt financings, equity financings, initial public offering and/or sale transactions (referred to hereinafter, individually
or collectively, as a “Transaction”). 
 2. Fees. CCB agrees to pay to PHC as compensation for its services under this engagement the
following fees: 
  

	 	(i)	 Upfront Retainer and Monthly Fees. PHC shall waive its customary upfront cash retainer and monthly fees.

  

	 	(ii)	 Transaction Fees. In the event of a Transaction, including an equity financing (other than a public
offering), sale, merger, acquisition, debt financing, and/or other type of Transaction where consideration (defined below in 2(iv)) is conveyed to or by the Company (or any of its security holders, creditors, shareholders and/or other constituents),
the Company shall pay to PHC a fee for each transaction (a “Transaction Fee”) determined as follows: 

  

	 	(A)	 For consideration from new investors or purchasers: 

 

	 	a.	 4.0% of consideration up to and including $50.0 million; plus 

 

	 	b.	 2.5% of consideration in excess of $50.0 million up to and including $250.0 million; plus

  

	 	c.	 1.0% of consideration in excess of $250.0 million. 

Plus: 
  

	 	(B)	 For consideration from existing investors or purchasers or their affiliated entities (including
(i) Jeffrey S. Aronin, Marshman Fund Trust I, Marshman Fund Trust II, or other related or affiliated parties, and (ii) with respect to Valor Equity Partners and Fidelity, their various investing
entities) at the time of a Transaction: 

  

	 	a.	 2.0% of consideration up to and including $50.0 million; plus 

  
 Paragon Health Capital,
LLC 
 330 N. Wabash Ave., Suite 3500 

Chicago, Illinois 60611 

 Castle Creek Biosciences, Inc. 

June 9, 2021 
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 of 5 
  

	 	b.	 1.25% of consideration in excess of $50.0 million up to and including $250.0 million; plus

  

	 	c.	 0.5% of consideration in excess of $250.0 million. 

Consideration shall be calculated based on the aggregate consideration paid irrespective of the number of Transactions or tranches of
Transactions. 
 Other Terms. Notwithstanding the fees set forth above, but subject to 2(iii) below, the parties agree that: 

 

	 	i.	 PHC shall not be paid Transaction Fees on new capital invested by Jeffrey Aronin, Paragon, or any related
parties thereto, affiliated with, or created by them; 

  

	 	ii.	 In the event of a bank financing Transaction, if PHC facilitates such a Transaction at the Company’s
request, then the Company shall pay to PHC a Transaction Fee equal to 0.5% of the amount of such bank financing; 

  

	 	iii.	 In the event the Company pursues a public offering transaction with an underwriter, and PHC provides general
advisory services to the Company (e.g., providing analytical support and resources, helping oversee the underwriter’s activities from the Company’s perspective, and working as a resource on behalf of the Company’s management and board
to ensure the best outcome), then the Company shall pay to PHC a flat advisory fee (“Advisory Fee”) equal to $250,000. 

  

	 	(iii)	 Notwithstanding the provisions set forth above, any Transaction Fee paid to PHC pursuant to Section 2(ii),
but excluding 2(ii)(iii), with respect to a Transaction shall be subject to a minimum amount of $625,000. 

  

	 	(iv)	 “Consideration” shall mean the total value of all cash, securities, repurchase or buy-out of any stock options, warrants, property and any other consideration paid or payable, directly or indirectly, in connection with a Transaction, including, without limitation, consideration paid or payable
to, or for the benefit of, the Company or to any security holder of the Company, including any consideration held in escrow, future payments which are contingent upon the performance of the Company or any successor to the Company, and any dividends
or distributions paid to the holders of the Company’s equity securities after the date hereof, other than usual recurring cash dividends in amounts materially greater than currently paid, or any other consideration paid or payable, directly or
indirectly, in connection with a Transaction. Any consideration held pursuant to an escrow account established before or in connection with the consummation of a Transaction shall be deemed Consideration hereunder irrespective of whether such
consideration is being held in escrow to satisfy future claims. If the Transaction provides for the transfer of only a portion of the assets or business of the Company and the retention of other assets relating to such entity or business, including,
but not limited to, cash, cash equivalents, securities, investments, inventories or receivables, such retained assets shall be deemed to be part of the Consideration received in connection with such a Transaction. If the Transaction provides for the
transfer of only a portion of the capital stock or comparable equity interests of the Company, then the value of the capital stock or equity interests not transferred shall also be deemed to be a part of the Consideration, and the value thereof
shall be based on the same value per share or other unit as used in the Transaction. 

 All Transaction Fees shall be paid
in cash by wire transfer at the time of closing each Transaction, and all fees shall be deemed fully earned when paid. PHC may elect, in its sole discretion, to receive any portion of its cash fees in securities of the Company (at the same valuation
and terms of any third-party investor). 
 3. Expense Reimbursement. Regardless of whether a Transaction is proposed or completed, and in addition to
the compensation described in paragraph 2, the Company shall regularly, and immediately upon request, reimburse PHC for all reasonable expenses (including any travel expenses, information services and reasonable fees and disbursements of legal
counsel if appropriate) incurred in the performance of this engagement. 

 Castle Creek Biosciences, Inc. 

June 9, 2021 
  Page
 3
 of 5 
  

 4. Information Disclosure. The Company will furnish, or cause to be furnished, such information as PHC
believes appropriate to its engagement hereunder (the “Information”), and the Company represents that all such Information will be accurate and complete in all material respects to the best of its knowledge. PHC may rely on the accuracy
and completeness of the Information without independent verification. 
 5. No Fiduciary Responsibilities. It is specifically understood that the
Company’s decision-makers will not base its decisions regarding whether and how to pursue any Transaction solely on PHC’s advice, but will also consider the advice of the Company’s other advisors and such other factors which they
consider appropriate. PHC, as an independent contractor under this letter agreement, shall not assume the responsibilities of a fiduciary to the Company or its stockholders in connection with the performance of PHC’s services hereunder. 

6. Indemnification. The Company and PHC agree to the provisions with respect to the Company’s indemnity of PHC and other matters set forth in
Schedule I, the terms of which are incorporated herein in their entirety. Schedule I is an integral part of this letter agreement and shall survive any termination or expiration of this letter agreement. 

7. Termination Any Time. PHC’s engagement hereunder may be terminated at any time by either PHC or the Company, it being understood that upon
termination, this letter agreement shall have no further force or effect, except that any termination of PHC’s engagement hereunder for any reason shall not affect the Company’s obligations to pay to PHC fees accruing prior to such
termination, to provide indemnification as provided in Schedule I hereto, and to reimburse expenses as set forth herein. In addition, provisions relating to the status of PHC as an independent contractor, the limitation on to whom PHC shall owe any
duties, governing law, choice of forum, successors and assigns, and the waiver of the right to trial by jury shall survive any termination of this letter agreement. If the Company terminates this letter agreement, and within 18 months following the
termination of this letter agreement the Company signs a definitive agreement with respect to a Transaction, PHC shall, at the time of the consummation of such Transaction, be entitled to its full fees as set forth in this letter agreement, unless
PHC elects, in its sole discretion, to waive this provision. 
 8. Written Consent; No Impairment. This letter agreement, Schedule I and any rights,
duties or obligations hereunder may not be waived, amended, modified or assigned, in any way, in whole or in part, including by operation of law, without the prior written consent of, and shall inure to the benefit of and be binding upon the
successors, assigns and personal representatives of, each of the parties hereto. In case any provision of this letter agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this
letter agreement shall not in any way be affected or impaired thereby. 
 9. Registered Broker-Dealer With FINRA. The Company acknowledges that PHC
is a member of the Financial Regulatory Authority, Inc. (“FINRA”). Notwithstanding anything to the contrary in this agreement, PHC shall maintain full rights to ensure compliance with all applicable laws, rules and regulations including
those set forth by FINRA and the Securities and Exchange Commission. The Company also acknowledges that emails, electronic communications and correspondences through the systems of PHC are subject to being archived, reviewed and monitored in
accordance with PHC’s policies, applicable laws, rules and regulations. 
 10. Confidentiality. PHC agrees that all information it receives from
the Company will be treated as strictly confidential unless the information is publicly available, and shall only be used by PHC for the purposes set forth herein. 

11. Governance. This letter agreement supersedes any prior agreements, if any, made by and among the Company and its affiliates and PHC. This letter
agreement and any claim or dispute of any kind or nature whatsoever arising out of, or relating to, this letter agreement or PHC’s engagement hereunder, directly or indirectly (including any claim concerning advice provided pursuant to this
letter agreement), shall be governed by and construed in accordance with the laws of the State of Illinois. Any rights to trial by jury with respect to any claim, action or proceeding, directly or indirectly, arising out of, or relating to, this
letter agreement or PHC’s engagement hereunder are waived by PHC and the Company. 

 Castle Creek Biosciences, Inc. 

June 9, 2021 
  Page
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 of 5 
  

 We are pleased to accept this engagement and look forward to working with the Company. Please confirm that
the foregoing is in accordance with your understanding by countersigning signing and returning this letter, or a scanned or duplicate copy, by any means of transmission, which shall thereupon constitute a binding agreement. 

 

			
	Sincerely,
	
	PARAGON HEALTH CAPITAL, LLC
		
		 	 /s/ Kerensa Jimenez

	By:	 	Ms. Kerensa Jimenez
	Title:	 	CEO

  

			
	Accepted and Agreed to
	as of the date first written above:
	
	CASTLE CREEK BIOSCIENCES, INC.
	
	 /s/ Matt Gantz

	By:	 	Mr. Matt Gantz
	Title:	 	CEO

 Castle Creek Biosciences, Inc. 

June 9, 2021 
  Page
 5
 of 5 
  

 Schedule I - Indemnification Agreement 

In connection with PHC’s engagement to advise and to assist the Company pursuant to the Agreement dated June 9, 2021, to which Schedule I is
attached, the Company and its owners agree to indemnify PHC, any controlling person of PHC and each of their respective directors, officers, employees, agents, affiliates, and representatives (each, an “Indemnified Party”) and hold each of
them harmless against any and all losses, claims, damages, expenses, liabilities, joint or several (collectively, “Liabilities”) to which the Indemnified Parties may become liable, directly or indirectly, arising out of, or relating to,
the letter agreement to which this Schedule I is attached (the “Letter Agreement”). The Company further agrees to reimburse each Indemnified Party immediately upon request for all expenses (including reasonable attorneys’ fees and
expenses) as they are incurred in connection with the investigation of, preparation for, defense of, or providing evidence in, any action, claim, suit, proceeding or investigation, directly or indirectly, arising out of, or relating to, the Letter
Agreement or PHC’s services thereunder, whether or not pending or threatened and whether or not any Indemnified Party is a party to such proceeding. In this regard, if any time is required of an Indemnified Party in connection with PHC’s
participation in any court-related activities associated with the Company, PHC shall receive a fee of $1,000 per hour per Partner or Managing Director, $500 per hour per Principal/Vice President, and/or $250 per hour per Associate/Analyst based on
the number of hours PHC’s professionals are involved with such court-related activities or in preparation for such activities. The Company also agrees that no Indemnified Party shall have any liability (whether direct or indirect, in contract
or tort or otherwise) to the Company or any person asserting claims on behalf of or in right of the Company, directly or indirectly, arising out of, or relating to, the Letter Agreement or PHC’s services thereunder. Moreover, in no event,
regardless of the legal theory advanced, shall any Indemnified Party be liable to the Company or any person asserting claims on behalf of or in the right of the Company for any consequential, indirect, incidental or special damages of any nature. In
the event that an Indemnified Party is requested or required to appear as a witness in any action brought by or on behalf of or against the Company or any affiliate of the Company, or otherwise relating to this Letter Agreement, in which such
Indemnified Party is not named as a defendant, the Company agrees to reimburse PHC for all expenses incurred by it in connection with such Indemnified Party’s appearing and preparing to appear as such a witness, including, without limitation,
the reasonable fees and disbursements of its legal counsel. 
 Promptly after receipt by an Indemnified Party of notice of any complaint or the commencement
of any action, proceeding or investigation in respect of which a claim hereunder for indemnity, reimbursement or hold harmless may be sought as provided above, the Indemnified Party will notify the Company in writing of such complaint or of the
commencement of such action, proceeding or investigation. The Company shall select legal counsel to represent the Indemnified Party in such action, which may include counsel for the Company, unless such counsel has a conflict of interest in
representing both, in which event, the Indemnified Party shall be entitled to participate with counsel of its choice in the defense of any such action, proceeding or investigation described in the preceding paragraphs, provided such counsel is
reasonably satisfactory to the Company, and provided further, that the Company shall not in such event be responsible hereunder for the fees and expenses of more than one firm of separate counsel in connection with any action, proceeding or
investigation in the same jurisdiction. The Company shall not be liable for any settlement of any action, proceeding or investigation effected without its written consent, which shall not be unreasonably withheld. 

The Company agrees that, without PHC’s prior written consent, it will not settle, compromise or consent to the entry of any judgment in or otherwise seek
to terminate any claim, action, suit, proceeding or investigation in respect of which indemnification could be sought hereunder (whether or not PHC or any other Indemnified Party is an actual or potential party to such claim, action, suit,
proceeding or investigation), unless (a) such settlement, compromise, consent or termination includes an unconditional release of each Indemnified Party from any liabilities arising out of such claim action, suit, proceeding or investigation
and (b) the parties agree that the terms of such settlement shall remain confidential. 
 The Company and PHC agree that if any indemnification or
reimbursement sought pursuant to the first paragraph of this Schedule I is for any reason unavailable or insufficient to hold any Indemnified Party harmless (except by reason of the gross negligence or willful misconduct of the Indemnified Party)
then, whether or not PHC is the person entitled to indemnification or reimbursement, the Company and PHC shall contribute to the Liabilities for which such indemnification or reimbursement is held unavailable in such proportion as is appropriate to
reflect (a) the relative benefits to the Company on the one hand and PHC on the other hand, in connection with the transaction to which such indemnification or reimbursement relates or (b) if the allocation provided by clause
(a) above is not available, in such proportion as is appropriate to reflect not only the relative benefits referred to in such clause (a), but also the relative fault of the parties as well as any other relevant equitable considerations,
provided, however, that in no event shall the amount to be contributed by PHC exceed the fees actually received by PHC under the Letter Agreement. The Company agrees that, for the purposes of this paragraph, the relative benefits to the Company and
PHC of the contemplated transaction (whether or not such transaction is consummated) shall be deemed to be in the same proportion that the aggregate consideration payable, exchangeable or transferable (or contemplated to be payable, exchangeable or
transferable) in such transaction bears to the fees paid or payable to PHC as financial advisor under the Letter Agreement. 
 The rights of the Indemnified
Parties referred to above shall be in addition to any rights that any Indemnified Party may otherwise have; and shall remain in full force and effect regardless of the expiration or any termination of PHC’s engagement.

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