Document:

Exhibit 10.26

 

LICENSE AGREEMENT

 

THIS LICENSE AGREEMENT
(this “License”), effective as of January __,2020 (the “Effective Date”), by and between
MOTUS GI HOLDINGS, INC., a Delaware corporation (“Licensor”) having an address at 150 Union Square
Drive, New Hope, Pennsylvania 18938, and ORCHESTRA BIOMED, INC., a Delaware corporation (“Licensee”)
having an address at 150 Union Square Drive, New Hope, Pennsylvania 18938.

 

WHEREAS, pursuant to
that certain Lease dated as of April 13, 2017, as amended by that certain Amendment to Lease dated December 20, 2017 (collectively,
as same may be further amended, modified or supplemented from time to time, the “Lease”), by and between Victoriana
Building, LLC, as landlord (“Landlord”). Licensor is the tenant of Suite 310, an approximately six thousand
four hundred ninety six (6,496) square foot portion of the southeast area of the third (3rd) floor (collectively, and together
with any associated appurtenances, improvements and facilities, the “Premises”) located within that certain
building known as the Victoriana Building located at 1301 East Broward Boulevard, Fort Lauderdale, Florida 33301 (the “Building”);
and

 

WHEREAS, Licensor desires
to grant a license to Licensee and Licensee desires to accept a license from Licensor for the use of portions of the Premises not being
used by Licensor and Licensee’s proportionate share of common area of the Premises (the “Licensed Premises”),which
compromises approximately 35% of the Premises as of the Effective Date and shall expand incrementally to approximately 60 to 70%
of the Premises, in the aggregate, during the Term (as hereinafter defined), as more particularly described on Exhibit B
attached hereto (the “Expansion Schedule”), on the conditions, and subject to the terms, hereinafter set forth.

 

NOW THEREFORE, for
good and valuable consideration, the sufficiency and receipt of which is hereby acknowledged, Licensor and Licensee agree as follows:

 

1. Grant.
Licensor hereby grants Licensee a license to use and occupy the Licensed Premises, as same shall expand during the Term (defined below),
subject to the terms of this License during the Term.

 

2. Term.
The term (the “Term”) of the License shall commence on the Effective Date (the “Commencement Date”)
and shall expire on September 14, 2024 (the “Expiration Date”), or upon such earlier date on which the
Term shall end pursuant to any of the other terms, conditions or covenants of this License.

 

3. License
Fee. Licensee shall pay Licensor a monthly license fee (the “License Fee”) in the amounts as set forth
on Exhibit A attached hereto and made a part hereof; it being acknowledged for informational purposes that the License
Fee has been calculated using the estimated size, as of the dates set forth on Exhibit A, of the Licensed Premises
as a percentage of the total Premises, multiplied by the total monthly gross rent to be paid by Licensor under the Lease. The monthly
installments of the License Fee shall be payable in arrears on the first (1st) day of each month during the entire Term with the
first payment being due on March 1, 2020 and the final payment being due October 1, 2024. In addition, Licensee shall pay a
one-time License Fee on the Effective Date in the amount of $28,500.00 in consideration of Licensee’s use and occupancy of the Licensed
Premises prior to the Effective Date and for the month in which the Commencement Date occurs. The parties hereto hereby acknowledge and
agree that the size of the Licensed Premises shall increase during the Term on the dates (each an “Expansion Date”)
set forth on Exhibit B attached hereto and by the approximate size increases set forth Exhibit B
attached hereto. The parties shall mutually agree on the particular location and square footage of the applicable additional premises
(the “Expansion Premises”) prior to each applicable Expansion Date.

 

     

     

    

 

4. Limited
Representations. Licensee acknowledges and agrees that the Licensed Premises is to be delivered to Licensee on the Commencement
Date and Licensee hereby agrees to accept the Licensed Premises in its “as is” condition as of such date. Except as set forth
in this Section 4, Licensor has not made, nor does it make, any representations or promises with respect to the Licensed Premises
and Licensee agrees that Licensor does not have any obligation to perform any work, or otherwise prepare all or any portion of the Licensed
Premises for Licensee’s use. Notwithstanding the foregoing or anything herein to the contrary, Licensor hereby represents and warrants
(“Licensor Representations”) to Licensee that: (i) Licensor has all requisite right, power and authority
to enter into this License, to license the Licensed Premises to Licensee, and to otherwise carry out its obligations hereunder, (ii) the
transactions contemplated by this License are permitted under the terms of the Lease, and are not otherwise in violation of, in conflict
with, nor does it constitute a default under any agreement or instrument between Licensor and Landlord or to which Licensor is bound,
(iii) the Lease is in full force and effect and has not been amended or modified in any respect, (iv) neither Landlord nor Licensor
is in default (beyond any applicable notice and cure periods) under the terms or conditions of the Lease, (v) to Licensor’s
current actual knowledge, no event has occurred which with the passage of time or giving of notice, or both, could ripen into a default
under the Lease nor has Licensor received or sent any notice of default under the Lease, (vi) to Licensor’s current actual
knowledge, Licensor has not received any notice that the Premises is in violation of any applicable laws or insurance requirements, and
(vii) Licensor holds title to the entire tenant’s interest in the Premises under the Lease. Licensee hereby represents and
warrants to Licensor that: (i) Licensee has all requisite right, power and authority under its organizational documents to enter
into this License, to license the Licensed Premises from Licensor, and to otherwise carry out its obligations hereunder, and (ii) the
transactions contemplated by this License are not in violation of, in conflict with, nor do the transactions constitute a default, under
any agreement or instrument to which Licensee is bound. This Section 4 shall survive the termination of this License.

 

5. Alterations.
Licensee shall not make or cause to be made any alterations, installations, improvements or additions, whether structural or non-structural
in or about the Licensed Premises, without Licensor’s prior written consent in its sole and absolute discretion, and, to the extent
required by the Lease, the consent of Landlord. In the event any such alterations, installations, improvements or additions are consented
to in accordance with this Section 5, Licensee shall restore same at or prior to expiration or sooner termination of the Term.

 

6. Use.
Licensee may only use and occupy the Licensed Premises for such uses as are permitted under the Lease or specifically consented to by
Landlord.

 

7. Services.
Licensor shall have no obligation to supply any services which are generally provided by the Landlord pursuant to the terms and conditions
of the Lease to the Premises; provided, however, Licensor shall use commercially reasonable, good faith efforts to ensure that
Licensee and the Licensed Premises receive all services generally provided by Landlord pursuant to the terms and conditions of the Lease,
including, but not limited to, heating, ventilating and air conditioning, and water; provided, however, if any such services are
disrupted at any time, then Licensor shall not be liable to Licensee for any damages caused thereby (except to the extent same is due
to Licensor’s default under the Lease which does not arise out of the acts, omissions or default hereunder of Licensee, negligence
or willful misconduct). Licensee shall pay to Licensor as an additional charge under this License, within thirty (30) days of receipt
of an invoice therefor, for Additional Vendors (defined below) providing services to the Premises during the Term, which charge shall
equal fifty (50%) of the actual amount payable by Licensor with respect to such Additional Vendors. “Additional Vendors”
means AT&T (fiber network), Comcast (cable and secondary internet), VIP VOIP (phones), Milner (printer lease and printer usage), and
any additional or modified vendors and/or services to which the parties mutually agree. This Section 7 shall survive the expiration
or sooner termination of this License

 

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8. Assignment.
Licensee shall not assign its rights or delegate its duties under this License or permit the Licensed Premises or any part thereof to
be occupied or used by any other person or entity without the prior written consent of Licensor, which may be withheld in Licensor’s
sole discretion, and, to the extent required by the Lease, the consent of Landlord.

 

9. License
and Not a Lease or Subtenancy. This License is not to be construed as in any way granting to Licensee any leasehold or other real
property interest in the Premises; it being intended that this License merely grants to Licensee the license to enter upon and use the
Premises during the Term in accordance with the terms and conditions hereof. In furtherance of the foregoing, in no event shall this License
be deemed to incorporate (nor shall Licensee by subject to, bound by or obligated to comply with) any of the terms, conditions or covenants
of the Lease except as expressly stated in this License, and in the event any such term, condition or covenant is stated to be incorporated
herein, such incorporated terms, conditions or covenants of the Lease shall be deemed modified as appropriate in the circumstances so
as to make each such term, condition or covenant applicable only to the license granted hereunder by Licensor of the Licensed Premises
covered, from time to time, hereby.

 

10. WAIVER
OF TRIAL BY JURY. LICENSEE AND LICENSOR HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER
OF LICENSOR OR LICENSEE AGAINST THE OTHER (EXCEPT FOR PERSONAL INJURY OR PROPERTY DAMAGE) ON ANY MATTERS WHATSOEVER ARISING OUT OF, OR
IN ANY WAY CONNECTED WITH, THIS LICENSE. IF LICENSOR SHALL COMMENCE ANY SUMMARY PROCEEDING AGAINST LICENSEE, LICENSEE WILL NOT INTERPOSE
ANY COUNTERCLAIM OF WHATEVER NATURE OR DESCRIPTION IN ANY SUCH PROCEEDING (UNLESS FAILURE TO IMPOSE SUCH COUNTERCLAIM WOULD PRECLUDE LICENSEE
FROM ASSERTING IN A SEPARATE ACTION THE CLAIM WHICH IS THE SUBJECT OF SUCH COUNTERCLAIM). MOREOVER, LICENSEE SHALL NOT SEEK TO CONSOLIDATE
SUCH PROCEEDING WITH ANY OTHER ACTION WHICH MAY HAVE BEEN OR MAY BE BROUGHT IN ANY OTHER COURT BY LICENSEE.

 

11. Access.
Landlord shall have access to the Licensed Premises pursuant to the terms of the Lease. Licensor shall have access to any exclusive areas
of the Licensed Premises pursuant to the terms of the Lease with respect to Landlord access, but the parties further acknowledge that
a portion of use and occupancy rights granted to Licensee hereunder is for common areas of the Premises which Licensor shall have access
to at all times.

 

12. Broker.
Licensor covenants, represents and warrants to Licensee that Licensor has had no dealings with any broker or agent in connection with
the consummation of this License. Licensee covenants, represents and warrants to Licensor that Licensee has had no dealings with any broker
or agent in connection with the consummation of this License. Licensor covenants and agrees to pay, hold harmless and indemnify Licensee
from and against any and all cost, expense (including reasonable attorneys’ fees) or liability for any compensation, commissions
or charges claimed by any broker or agent arising out of this License attributed to a breach by Licensor of its representations under
this Section 12. Licensee covenants and agrees to pay, hold harmless and indemnify Licensor from and against any and all cost,
expense (including reasonable attorneys’ fees) or liability for any compensation, commissions or charges claimed by any broker or
agent, arising out of this License attributed to a breach by Licensee of its representations under this Section 12. This Section 12
shall survive the expiration or sooner termination of this License.

 

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13. Indemnity.
Licensee hereby agrees to indemnify, defend and hold Licensor, its affiliates, directors, offices and employees harmless from and against
any and all liabilities, actual losses, actual damages, or actual reasonable out-of-pocket costs or expenses (including interest, penalties
and reasonable attorneys’ fees and disbursements) arising out of or relating to Licensee’s use and occupancy of the Licensed
Premises or default under this License, including, without limitation, Licensee’s failure to vacate the Licensed Premises upon expiration
or earlier termination, except to the extent of the negligence or willful misconduct of Licensor. Licensor hereby agrees to indemnify,
defend and hold Licensee, its affiliates, directors, offices and employees harmless from and against any and all liabilities, actual losses,
actual damages, or actual reasonable out-of-pocket costs or expenses (including interest, penalties and reasonable attorneys’ fees
and disbursements) arising out of or relating to Licensor’s use and occupancy of the Premises or default under this License, except
to the extent of the negligence or willful misconduct of Licensee. This Section 13 shall survive the expiration or sooner
termination of this License.

 

14. Insurance.
Licensee shall maintain all insurance required of Licensor under the Lease with regards to the Licensed Premises, and shall name Licensor,
Landlord, and any other parties required by the Lease as additional insureds. Licensor shall not be liable or responsible for, and Licensee
hereby releases Licensor from, all liability and responsibility to Licensee and any person claiming by, through or under Licensee, by
way of subrogation or otherwise, for any injury, loss or damage to any person or property in or around the Licensed Premises or to Licensee’s
business irrespective of the cause of such injury, loss or damage. Licensor and Licensee shall each procure an appropriate clause in or
endorsement to any property insurance covering the Premises and personal property, fixtures and equipment located therein, wherein the
insurer waives subrogation and consents to a waiver of right of recovery. Licensor and Licensee agree not to make any claim against, or
seek to recover from, the other for any loss or damage to its property or the property of others, to the extent covered by the property
insurance that was required to be carried by that party under the terms of this License.

 

15. Rules
and Regulations. Licensee hereby agrees to comply with any and all rules and regulations established from time to time by Landlord
pursuant to the Lease as the same relate to the use and occupancy of the Licensed Premises and the Building including, without limitation,
all access and security protocols.

 

16. End
of Term. Licensee shall vacate the Licensed Premises on or before the expiration of the License Term leaving such area free of
all of Licensee’s personal property, materials and debris, and shall return all keys to Licensor. If for any reason Licensee fails
to remove any such property or materials upon vacating the Licensed Premises, Licensor shall have the right to remove, at Licensee’s
expense, any such property or materials remaining on the Licensed Premises thereafter. Licensee’s obligations under this Section 16
shall survive the expiration or termination of this Agreement.

 

17. Maintenance.
Licensee shall maintain the Licensed Premises in a good and clean condition consistent with the Lease (casualty, condemnation and ordinary
course wear and tear excepted to the extent permitted under the Lease). Licensee shall obtain and pay for all licenses, permits, approvals
and the like required for the lawful conduct of its use of the Licensed Premises. Licensee shall conduct all of its activities in the
Licensed Premises in compliance with all applicable laws. To the extent that Licensee or its agents or employees causes any damage (casualty,
condemnation and ordinary course wear and tear excepted to the extent permitted under the Lease) to the Licensed Premises, Licensee shall
fully restore the Licensed Premises at its sole cost and expense.

 

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18. Damage
or Destruction. In the event any portion of the Licensed Premises is damaged or destroyed by fire or other casualty or taken by
eminent domain, either party shall have the right to terminate this License upon notice to the other party, whereupon this License shall
come to an end as of the date set forth in such notice of cancellation.

 

19. Default
by Licensee. Should Licensee default in observing any of the terms or conditions of this License, and such default continues for
a period of five (5) business days after written notice of such default is given to Licensee with respect to monetary defaults, and
for a period of twenty (20) days after written notice of such default is given to Licensee with respect to non-monetary defaults
(or if such non-monetary default is of a nature that it cannot be completely remedied within twenty (20) days, failure by Licensee
to commence to remedy such default within said twenty (20) days, and thereafter diligently prosecute to completion all steps necessary
to remedy such default, provided in all events the same is completed within sixty (60) days), following such applicable cure period,
Licensor may terminate this License five (5) business days following delivery of a second written notice to Licensee, whereupon Licensor
may re-take possession of the Licensed Premises by any lawful means, and Licensee shall surrender possession of the same in accordance
with the terms of this License. Should Licensee default in observing in any material respect any of the terms or conditions of this License,
(i) Licensor may, but shall not be obligated to, cure such default at Licensee’s expense and recover the costs incurred by
Licensor in connection therewith as damages, and (ii) Licensee shall pay to Licensor all reasonable, out-of- pocket cost, loss, damage,
liability or expense (including, without limitation, reasonable out-of- pocket attorneys’ fees) actually incurred by Licensor in
connection therewith. Mention herein of any particular right or remedy shall not preclude Licensor from exercising any other right or
remedy available at law or in equity. The provisions of this Section 19 shall survive the expiration or termination of this
License.

 

20. Licensor
Defaults. Should Licensor default in observing any of the terms or conditions of this License, and such default continues for
a period of five (5) business days after written notice of such default is given to Licensor with respect to monetary defaults, and
for a period of twenty (20) days after written notice of such default is given to Licensor with respect to non-monetary defaults
(or if such non-monetary default is of a nature that it cannot be completely remedied within twenty (20) days, failure by Licensor
to commence to remedy such default within said twenty (20) days, and thereafter diligently prosecute to completion all steps necessary
to remedy such default, provided in all events the same is completed within sixty (60) days), following such applicable cure period,
Licensee may terminate this License five (5) business days following delivery of a second written notice to Licensor, whereupon Licensee
shall surrender possession of the Licensed Premises in accordance with the terms of this License. Mention herein of any particular right
or remedy shall not preclude Licensee from exercising any other right or remedy available at law or in equity. The provisions of this
Section 20 shall survive the expiration or termination of this License.

 

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21. Notices.
All notices or other communications required or provided to be sent by either party shall be in writing and shall be sent: (i) by
United States Postal Service, certified mail, return receipt requested, (ii) by any nationally known overnight delivery service for
next day delivery, (iii) by delivery in person, or (iv) email, provided that a copy of any notice transmitted by email is transmitted
by a method permitted by clause (i), (ii) or (iii) on the next succeeding business day. Email notices to Licensee shall
be sent to: C. Evan Ballantyne at [Omitted pursuant Item 601(a)(6)]; email notices to Licensor shall be sent to Andrew Taylor at [Omitted
pursuant Item 601(a)(6)]. Licensor shall send a copy of any default notices to Licensee to: Paul Hastings LLP, 200 Park Avenue, New York,
NY 10166, Attn: Seth Fersko, Esq.; Licensee shall send a copy of any default notice to Licensor to: Lowenstein Sandler LLP, 1251
Avenue of the Americas, New York, NY 10020, Attn: Steven Skolnick, Esq. Notices shall be deemed delivered on the date received as
noted on the return receipt or on the date delivered by courier or overnight carrier as evidenced by the courier’s or carrier’s
records. Notices shall be sent to the addresses of the parties as set forth above. The inability to deliver notice because of a changed
address of which no notice was given as provided above, or because of rejection or other refusal to accept any notice, shall be deemed
to be the receipt of the notice as of the date of such inability to deliver or rejection or refusal to accept.

 

22. Furniture.
Licensor shall leave in the Licensed Premises, and Licensee shall be entitled to use, in its current as-is condition and at no cost to
Licensee, all of Licensor’s furniture currently located therein (excluding specialized lab equipment). Licensee shall keep all such
furniture in good condition and repair, normal wear and tear and damage by casualty excepted, and shall maintain insurance thereon.

 

23. Holding
Over. If Licensee fails to surrender the Licensed Premises, or any part thereof, on the expiration or termination of the Term
and Licensee remains in possession of the Licensed Premises without the express written consent of Licensor, then the monthly License
Fee shall be increased to 200% of the License Fee for the final month of the Term during such period of holdover, provided that such
amount shall be prorated for any partial month of holdover based on the actual number of days during such month in which Licensee remains
in possession of the Licensed Premises. For purposes of this Section, Licensee shall be deemed to be in possession of the Licensed Premises
and owe the increased License Fee under this Section until such time as Licensee has surrendered possession of the Licensed Premises to
Licensor in the condition required by this License. The parties agree that the increased License Fee shall not be deemed special, punitive,
exemplary and consequential damages.

 

24. No
Nuisance. In connection with its use of the Licensed Premises hereunder, Licensee shall, and shall cause all authorized personnel,
not to create any nuisance, or interfere with, annoy or disturb any tenants in the Building.

 

25. Counterparts.
This License may be executed in any number of counterparts, all of which together shall constitute one agreement binding on all parties
hereto notwithstanding that all the parties have not signed the same counterpart. All counterparts shall be construed together and shall
constitute one instrument. In order to expedite the execution of this License, the parties hereto agree that this License may be executed
in counterparts by email in .PDF format and that an email of this License and signatures thereto transmitted by email may be utilized
with the same force and effect as an original and shall constitute the original of this License. The parties hereto intend to be bound
by the signatures on the emailed document, are aware that the other party will rely on the emailed signatures, and hereby waive any defenses
to the enforcement of the terms of this License based on the form of signature.

 

26. Prevailing
Party. In any action or proceeding between Licensor and Licensee arising out of this License, the prevailing party (as determined
by the final order of a court of competent jurisdiction) in such action or proceeding shall be entitled to recover all costs of such action
or proceeding incurred by it, including reasonable attorneys’ fees.

 

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27. Miscellaneous.
The parties hereto agree that this License shall not be deemed binding or effective until duly executed by and delivered to both parties.
This License may not be modified or amended, nor any of its provisions waived, except by a written instrument executed by the party against
whom enforcement of the modification, amendment or waiver is sought. This License shall be governed by and construed in accordance with
the laws of the State of Florida. If any provision of this License is held illegal, invalid, or unenforceable, the same shall not affect
any other provision of this License. This License shall, in such circumstances, be deemed modified to the extent necessary to render enforceable
the remaining provisions of this License. Time is of the essence in the performance of all obligations of Licensor and Licensee under
this License. This License shall be subordinate to the Lease.

 

28. Licensor
Covenants. Licensor covenants and agrees that (i) it shall pay all sums due under the Lease as and when due, and shall not
do or fail to do anything which would result in a default under the Lease or cause the Lease to be terminated (excluding, however, if
arising out of any action, inaction or default of this License by Licensee), (ii) it will not amend, modify, terminate, surrender
or cancel the Lease or Licensor’s rights and estates thereunder, in each case, without Licensee’s prior written consent, unless
pursuant to a termination or cancellation right stated in the Lease, and (iii) within five (5) business days following receipt
thereof (or prior to sending any response to Landlord, if sooner), it shall deliver to Licensee a true, correct and complete copy of any
written notice or demand received from Landlord relating to the Licensed Premises. Further, and notwithstanding anything contained herein
to the contrary, on the request of Licensee, Licensor shall make a written demand on Landlord to perform its obligations under the Lease
with respect to the Licensed Premises if Landlord fails to perform same within the time frame and in the manner required under the Lease;
it being agreed that Licensee and Licensor shall cooperate with each other in seeking to obtain the performance of Landlord under the
Lease. If Landlord shall default in any of its obligations with respect to the Licensed Premises, or there shall exist a bona fide dispute
with Landlord under the terms, covenants, conditions, provisions and agreements of this License and/or the Lease and Licensee notifies
Licensor in writing that Licensee has previously notified Landlord of such dispute and that such default or notice has been disregarded
or not reasonably satisfactorily acted upon, then upon Licensee’s written request Licensor shall use reasonable efforts to enforce
its rights under the Lease for Licensee’s benefit, including, but not limited to, giving notices, claims and demands to and on Landlord,
except that Licensor shall not be required to commence any legal proceedings or arbitration or to terminate the Lease.

 

29. Confidentiality.
Each party shall treat this License as confidential and shall not disclose same or permit its employees or agents to disclose same to
any other person or entity (other than Landlord, and such party’s lenders (or potential lenders), investors (or potential investors),
attorneys, accountants and agents) except to the extent required by law and then, unless prohibited by law, only after notice to the other
party.

 

30. Limitation
on Damages. In no event shall Licensor be liable for, and Licensee hereby waives any claim for, any special, punitive, exemplary
and consequential damages, including loss of profits or business opportunity, arising under or in connection with this License. In no
event shall Licensee be liable for, and Licensor hereby waives any claim for, any special, punitive, exemplary and consequential damages,
including loss of profits or business opportunity, arising under or in connection with this License (unless such amounts are actually
asserted by Landlord under the Lease against Licensor due to Licensee holding over in violation of this License).

 

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IN WITNESS WHEREOF,
the parties have executed this License Agreement on the day and year first written above.

 

	 	LICENSOR:
	 	 
	 	MOTUS GI HOLDINGS, INC., a
	 	Delaware corporation
	 	 	 	 
	 	By:	/s/ Andrew Taylor
	 	 	Name: 	Andrew Taylor
	 	 	Title:	CFO
	 	 	 	 
	 	LICENSEE:
	 	 
	 	ORCHESTRA BIOMED, INC., a
	 	Delaware corporation
	 	 	 	 
	 	By:	/s/ David Hochman
	 	 	Name:	David Hochman
	 	 	Title:	CEO

 

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Exhibit A

License Fee Schedule

 

	Time Period	 	Monthly 

License Fee	 
	February 1, 2020 through and including February 29, 2020	 	$	11,500	 
	March 1, 2020 through and including March 31, 2020	 	$	12,500	 
	April 1, 2020 through and including April 30, 2020	 	$	13,500	 
	May 1, 2020 through and including May 31, 2020	 	$	14,500	 
	June 1, 2020 through and including June 30, 2020	 	$	15,500	 
	July 1, 2020 through and including December 31,2021	 	$	15,750	 
	January 1, 2022 through and including December 31, 2022	 	$	16,250	 
	January 1, 2023 through and including December 31, 2023	 	$	16,500	 
	January 1, 2024 through and including the Expiration Date	 	$	16,750	 

 

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Exhibit B

Expansion Space Schedule

 

	Expansion Date	 	Expansion Premises (expressed as a percentage of the Premises which is added to the Licensed Premises)	 
	February 1, 2020	 	 	5	%
	March 1, 2020	 	 	5	%
	April 1, 2020	 	 	5	%
	May 1, 2020	 	 	5	%
	June 1, 2020	 	 	5	%
	July 1, 2020	 	 	1.25	%
	January 1, 2022	 	 	2.5	%
	January 1, 2023	 	 	1.25	%
	January 1, 2024	 	 	1.25	%

 

 

-10-Exhibit 10.27

 

AMENDMENT TO LICENSE AGREEMENT

 

This AMENDMENT TO LICENSE AGREEMENT (this
“Amendment”) is made and entered into as of the 1st day of May, 2022 (the “Effective Date”),
by and between MOTUS GI HOLDINGS, INC., a Delaware corporation (“Licensor”) having an address at 1301 East
Broward Boulevard, Suite 310, Fort Lauderdale, Florida 33301 and ORCHESTRA BIOMED, INC., a Delaware corporation (“Licensee”)
having an address at 150 Union Square Drive, New Hope, Pennsylvania 18938.

 

WHEREAS, pursuant to the License Agreement dated
January 2020 between Licensor and Licensee (the “Original License Agreement”), Licensee is licensing from Licensor
Suite 310, an approximately six thousand four hundred ninety six (6,496) square foot portion of the southeast area of the third
(3rd) floor (the “Premises”) of the building known as the Victoriana Building located at 1301
East Broward Boulevard, Fort Lauderdale, Florida 33301 (the “Building”) as more particularly set forth in the
Original License Agreement (such licensed space, the “Licensed Premises”).

 

WHEREAS, Licensee is desirous of licensing a larger
portion of the Premises, and Licensor is willing to license same to Licensee, subject to and in accordance with the terms hereof.

 

NOW THEREFORE, Licensor and Licensee agree as
follows:

 

		1.	Capitalized Terms. Capitalized terms used herein and not otherwise defined herein shall have the
meaning ascribed to such terms in the License Agreement. From and after the Effective Date, the term “License Agreement” shall
mean the Original License Agreement, as amended hereby.

 

		2.	Licensed Premises.

 

		(a)	Effective as of the Effective Date, the Expansion Schedule attached as Exhibit B to the Original
License Agreement is hereby deleted in its entirety.

 

		(b)	Beginning on the Effective Date and continuing through and including November 14, 2024 (the “Expiration
Date”), the Licensed Premises shall include 95% of the Premises.

 

		3.	No Representations/Condition of Licensed Premises. Upon the Effective Date, the Licensed Premises
shall be delivered to Licensee, and Licensee agrees to accept same, in its “as is” condition. Except as otherwise expressly
set forth herein, Licensor has not made nor does Licensor make any representations or promises with respect to the Licensed Premises,
and Licensee agrees that Licensor does not have any obligation to perform any work, pay any amount or otherwise prepare the Licensed Premises
for Licensee’s use and occupancy.

 

		4.	License Fee.

 

		(a)	Effective as of the Effective Date, the License Fee Schedule attached as Exhibit A to the Original
License Agreement is hereby deleted in its entirety.

 

		(b)	Beginning on the Effective Date and continuing through and including August 31, 2022, the License
Fee shall be $21,941.01. Beginning on September 1, 2022 and continuing through and including August 31, 2023, the License Fee
shall be $22,350.71. Beginning on September 1, 2023 and continuing through and including August 31, 2024, the License Fee shall
be $22,771.67. Beginning on September 1, 2024 and continuing through and including September 30, 2024, the License Fee shall
be $23,204.20. Beginning on October 1, 2024 and continuing through and including the Expiration Date, the License Fee shall be $7,043.06.
The License Fee shall be paid in accordance with the terms of the License Agreement and Licensee further acknowledges and agrees that
the License Fees set forth in this Section 4(b) are subject to reasonable adjustment based on actual expenses incurred by the Landlord
and billed to Licensor.

 

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		5.	Brokers. Each party covenants, warrants and represents that no broker or agent was instrumental
in bringing about or consummating this Amendment. Each party agrees to indemnify and hold the other party harmless against and from any
claims for any brokerage commissions and all costs, expenses, and liabilities in connection therewith, including, without limitation,
reasonable attorneys’ fees and expenses, arising out of any conversations or negotiations had by the indemnifying party with any
broker or agent. The provisions of this Section will survive the termination of this Amendment.

 

		6.	Counterparts. This Amendment may be executed in counterparts, each of which shall be an original
and all of which, when taken together, shall constitute one agreement. Landlord and Tenant expressly agree that if the signature of Landlord
and/or Tenant and/or the subscribing witnesses on this Amendment is not an original, but is a digital, mechanical or electronic reproduction
(such as, but not limited to, a photocopy, fax, e-mail, PDF, Adobe image, JPEG, telegram, telex, telecopy or a DocuSign executed document),
then such digital, mechanical or electronic reproduction shall be as enforceable, valid and binding as, and the legal equivalent to, an
authentic and traditional ink-on-paper original wet signature penned manually by its signatory.

 

		7.	Miscellaneous.

 

		(a)	Except as expressly amended hereby, all other items and provisions of the Original License Agreement remain
unchanged and continue to be in full force and effect.

 

		(b)	Licensee represents that it has no rights of defense, abatement or set-off with respect to the License
Fee or any additional sums payable under the Original License Agreement. Licensee represents to Licensor that, to the best of Licensee’s
knowledge, neither Licensee nor Licensor is in default of any of their respective obligations under the Original License Agreement.

 

		(c)	The Original License Agreement (as amended hereby) constitutes the entire agreement of the parties with
respect to the subject matter hereof, and all prior correspondence, memoranda, agreements, or understandings (written or oral) with respect
hereto are merged into and superseded by the Original License Agreement (as amended hereby).

 

		(d)	This Amendment shall be governed by and be construed in accordance with the laws of the State of Florida.

 

		(e)	In the event that any sentence, section, or article of this Amendment is found to be void or unenforceable,
then the balance of this Amendment shall nevertheless be legal and binding with the same force and effect as though the void or voidable
parts were deleted.

 

		(f)	To the extent of any inconsistency between the terms and provisions of the Original License Agreement
and the terms or provisions of this Amendment, the terms and provisions of this Amendment shall govern.

 

		(g)	This Amendment shall be binding upon the Licensor and the Licensee and their respective successors and
assigns and shall inure to the benefit of the Licensor and Licensee and their respective successors and assigns.

 

[SIGNATURES APPEAR ON NEXT PAGE]

 

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IN WITNESS WHEREOF, Licensor and Licensee have
executed this Amendment as of the day and year first above written.

 

	 	LICENSOR:
	 	 
	 	MOTUS GI HOLDINGS, INC., a
	 	Delaware corporation
	 	 	 
	 	By:	/s/ Timothy P. Moran
	 	Name: 	Timothy P. Moran
	 	Title:	Chief Executive Officer
	 	 	 
	 	LICENSEE:
	 	 
	 	ORCHESTRA BIOMED, INC., a
	 	Delaware corporation
	 	 	 
	 	By:	/s/ Darren Sherman
	 	Name:	Darren Sherman
	 	Title:	President & COO

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