Document:

exhibit101-asidistributi

                                                                          Exhibit 10.1                      DISTRIBUTION AND SALES AGREEMENT          This Distribution and Sales Agreement (this “Agreement”) dated September ___,9  2020   (the  “Effective  Date”)  is  made  by  and  between  Soliton,  Inc.,  a  Delaware  corporation   (“Company”),  having  its  principal  place  of  business  at  5304  Ashbrook  Dr.,  Houston,  Texas   77081, and Aesthetic Solutions, Inc. (“Agent”), an Indiana corporation, with an address at 6732   N County Road 1250 W, Norman, IN  47264.  Each of Company and Agent is a “Party” and   both are collectively referred to as the “Parties”.          In consideration of the mutual promises contained herein, the Parties agree as follows:    1.    Definitions.   As used herein, the following terms shall have the meanings set forth below:          A.    “Products”  shall  mean  Company’s  products  set  forth  in  Exhibit  A  attached              hereto, as may be amended and modified by Company from time to time.        B.    “Territory” shall mean the United States of America.   2.    Appointment.   Company hereby appoints Agent as its representative for the sale and marketing of the Products  in the Territory, and Agent hereby accepts such appointment.  As representative, Agent shall, and  is hereby authorized to, (a) market for sale, in the name and on behalf of Company, the Products  in the Territory on a non-exclusive basis in accordance with the terms of this Agreement and (b)  upon  sale  of  a  Product,  install,  set-up  and  train  the  customer  on  the  use  of  such  Product  (collectively, the “Services”).  Except for the Services, Agent shall not have any other authority  to act on behalf of Company, including the authority to make any commitments whatsoever on  behalf of Company.  Agent shall be fully responsible for keeping customers duly informed of the  foregoing limitation.   3.    General Duties.  Agent shall use its best efforts to perform the Services.  In connection therewith, Agent shall also  provide reasonable assistance to Company in promotional activities in the Territory as requested  by  Company,  such  as  trade  shows,  Product  presentations,  sales  calls  and  other  activities  of  Company with respect to the Products.  Agent shall also provide reasonable after-sale support to  Product  customers  and  generally  perform  such  sales-related  activities  as  are  reasonable  to  promote  the  Products  and  the  goodwill  of  Company  in  the  Territory,  in  Company’s  line  of  business.  Agent shall report bi-weekly to Company concerning sales of the Products and any  competitive intelligence and activities of which it is aware.  Agent shall devote adequate time  and  effort  to  perform  its  obligations.   Agent  shall  neither  advertise  the  Products  outside  the  Territory nor solicit sales from purchasers located outside the Territory without the prior written  consent of Company.     CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL   AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED   WITH THREE ASTERISKS [***]

 

 4.    Reserved Rights.   For the avoidance of doubt, Company reserves the right to solicit orders directly from and sell   directly to any customers or other persons within the Territory.      5.    Conflict of Interest.   Agent warrants to Company that it does not currently market, distribute or promote any lines or   products  that  compete  with  the  Products.  Agent  shall  provide  Company  with  a  list  of  the   companies and products that it currently represents and shall notify Company in writing of any   new companies and products at such time as its promotion of those new companies and products   commences.    6.    Independent Contractor.         A.    Agent shall perform any and all of its activities as an independent contractor, and              notwithstanding  anything  to  the  contrary  herein,  nothing  contained  in  this              Agreement  shall  be  construed  to  create  or  imply  a  joint  venture,  partnership,              principal-agent or employment relationship between Company and Agent.  Unless              otherwise expressly authorized in writing by Company, Agent shall have no right              or authority to assume or create any obligations or make any representations or              warranties  on  behalf  of  Company,  whether  express  or  implied,  or  to  bind              Company in any respect whatsoever, and Agent shall not, and shall cause Agent’s              Parties (as hereinafter defined) not to, present itself or themselves to, nor speak to,              any third party with respect to any issue as a representative of, or on behalf of,              Company, beyond the specific scope of the Services and without Company’s prior              written approval with respect to such issue.         B.    Agent and any of its employees, as applicable (“Agent’s Parties”), shall not be              eligible for any employee benefits from Company.         C.    Agent shall be responsible for paying all income taxes and other taxes charged to              Agent  on  amounts  earned  hereunder.   All  financial  and  other  obligations              associated with Agent’s business are the sole responsibility of Agent.         D.    Agent shall be liable to any person or company with whom it, or Agent’s Parties,              has  entered  into  an  agreement  on  its  own  behalf  for  the  performance  of  any              Services particularly with respect to its sub-contractors, suppliers and employees.   7.    Professional Responsibility.         A.    Agent shall perform, and shall cause Agent’s Parties to perform, the Services in a  good  and  workmanlike  manner  to  the  best  of  their  ability  and  dedicate  all  their  expertise,   qualifications, experience, diligence and attention required for the performance of the Services   under this Agreement.  Agent represents, warrants and covenants that any Services performed   hereunder are, and will be, performed in a manner consistent with that level of care and skill   ordinarily  exercised  by  other  professionals  under  similar  circumstances.   Agent  further   represents,  warrants  and  covenants  that  Agent  and  each  Agent’s  Party  performing  any  of  the                                          2   CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL  AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED  WITH THREE ASTERISKS [***]

 

  Services  hereunder  are,  and  will  continue  to  be,  authorized  under  and  in  compliance  with all    licenses, certifications, permits or other approvals required by any applicable local, state and/or    federal applicable laws to perform any and all of the Services hereunder in compliance with all    such applicable laws, including without limitation, all applicable laws relating to the marketing,    sale  and  distribution  of  medical  devices  within  the  Territory,  and  that  all  such  licenses,    certifications, permits or other approvals are, and will continue to be, valid and in force.  Subject    to the foregoing, Agent shall determine the manner in which any Services shall be performed and    it  shall  be  entitled  to  delegate  a  portion  of  any  Services  to  Agent’s  Parties  as  it  deems    appropriate.           B.    Agent  shall  not  make  any  representations  or  warranties  with  respect  to  the   Products beyond the product warranties given by Company for the specific Product.           C.    Agent will refrain from taking actions that may tarnish or cause people to hold in   poor regard Company or the Products.  Agent shall establish and maintain a marketing program    and  a  sales  force,  customer  trainers  and  technical  service  representatives,  who  are  properly    trained  in  all  aspects  of  the  distributed  Product.   Company  shall  have  the  right  to  review  and    discuss  with  Agent  at  reasonable  times  and  with  reasonable  frequency  all  aspects  of  the    marketing and service program.     8.    Indemnification.          A.    Agent  shall  defend  and  hold  harmless  Company  and  its  officers,  directors,               employees,  agents,  and  stockholders  (collectively,  “Company  Indemnitees”)               from and against any and all claims, damages, expenses, losses, or other liabilities               whatsoever  and  all  reasonable  attorneys’  fees  and  other  associated  costs               (collectively, the “Claims”), brought against Company Indemnitees by any third               party  and  arising  out  of  or  relating  to  (i)  any  gross  negligence  or  willful               misconduct of Agent or Agent’s Parties, or (ii) any breach by Agent or Agent’s               Parties of any of its obligations under this Agreement; excluding in each of the               foregoing  cases,  any  Claims  attributable  to  any  Company  Indemnitee’s  gross              negligence, willful misconduct, or material breach of its obligations hereunder.         B.    Company  shall  defend  and  hold  harmless  Agent  and  its  officers,  directors,              employees,  agents,  and  stockholders  (collectively,  “Agent  Indemnitees”)  from              and against any and all Claims brought against Agent Indemnitees by any third              party and arising out of or relating to (i) the infringement of any third party patent,              trade  secret,  copyright,  trademark,  or  any  other  proprietary  right  caused  by  the              advertising, commercialization, or legitimate use of the Products, or (ii) any gross              negligence  or  willful  misconduct  of  Company  or  Company  Indemnitees;               excluding  in each  of  the  foregoing  cases,  any  Claim  attributable  to  any  Agent               Indemnitee’s  negligence,  willful  misconduct,  or  breach  of  its  obligations               hereunder.          C.    In  order  for  any  Agent  Indemnitee  or  Company  Indemnitee  (collectively,               “Indemnitee”)  to  be  entitled  to  any  indemnification  provided  for  under  this               Agreement,  Indemnitee  shall  notify  the  indemnifying  Party,  in  writing,  and  in                                          3   CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL  AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED  WITH THREE ASTERISKS [***]

 

            reasonable  detail,  of  the  Claim  within  twenty  (20)  days  after  receipt  by              Indemnitee of written notice of the Claim; provided, however, that failure to give              such notification shall not affect the indemnification provided hereunder except              (i) to the extent that the ability to defend such Claim or demand shall have been             prejudiced as a result of such failure, and (ii) that, without limiting the foregoing             in  Section  8(C)(i)  hereof,  the  indemnifying  Party  shall  not  be  liable  for  any             Claims incurred during the period prior to the giving of such notice by Indemnitee             if  notice  is  not  timely  given.   Thereafter,  Indemnitee  shall  deliver  to  the             indemnifying  Party  within  twenty  (20)  days  after  Indemnitee’s  receipt  thereof,             copies  of  all  notices  and  documents  (including  court  papers)  received  by             Indemnitee relating to the Claim.        D.    If a Claim is made against Indemnitee, the indemnifying Party shall be entitled to             participate in the defense thereof and, if it so chooses, assume the defense thereof             with counsel selected by and compensated by the indemnifying Party.        E.    Upon the assumption of the defense of the Claim by the indemnifying Party, the             indemnifying  Party  shall  not  be  liable  to  the  Indemnitee  for  legal  expenses             subsequently incurred by the Indemnitee in connection with the defense thereof             arising from or related to the Claim.        F.    All of the applicable parties shall cooperate with the Party assuming the defense,             in  defense  of  the  Claim.   Such  cooperation  shall  include  the  retention  and  the             provision, to the Party assuming the defense, of records and information which             are  reasonably  relevant  to  such  Claim  and  making  employees  available  on  a             mutually  convenient  basis  to  provide  additional  information  and  explanation  of             any material provided hereunder.        G.    The  Party  assuming  the  defense  shall  keep  the  applicable  Indemnitee  and             indemnifying Party fully informed regarding the progress and status thereof.        H.    The  Party  assuming  the  defense  shall  not  settle,  compromise,  or  discharge  any             Claim, if such settlement, compromise, or discharge could increase the amount of             any indemnity obligation, without the prior written consent of any indemnifying             Party or, in the case where the indemnifying Party has assumed the defense, any             Indemnitee,  if  such  settlement,  compromise,  or  discharge  requires  such             Indemnitee to cease any activity or to take any action (other than entering into an             agreement setting forth the terms of such settlement, compromise, or discharge).        I.    Indemnitee,  from  whom  the  defense  was  assumed,  shall  reimburse  the  Party             assuming  the  defense  for  all  legal  fees  and  expenses  reasonably  incurred  in             defending against such Claim if it is subsequently determined that the Claim is a             claim for which indemnification is not required under this Section 8.  9.    Compensation.          A. Commission.  Agent’s compensation under the terms of this Agreement shall be a            commission equal to [***]% of Agent’s Gross Sales of Products.  “Agent’s            Gross                                       4   CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL  AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED  WITH THREE ASTERISKS [***]

 

           Sales of Products” shall mean gross sales of the Products in the Territory made by             Agent (as a result of orders approved by Company) that are collected by Company             during each calendar month of the Term.         B.    Specification  Credit.  In  the  event  Company  accepts  an  order  for  the  sale  of            Products originating from Agent but relating to a referral to Agent from another            Company sales representative (“Referral Representative”), then the commission            set  forth  in  Section  9(A)  hereof  shall  be  equally  shared  between  Referral             Representative and Agent.  Without limitation, and in addition, to the foregoing,             in  the  event  that  a  dispute  arises  between  Agent  and  one  or  more  third  parties             relating  to  a  claim  for  payment  of  the  commissions,  Company  may,  in  its  sole             discretion,  determine  which  party  is  entitled  to  said  commissions,  and  Agent             agrees not to dispute such determination.        C.    Basis  of  Commission.  Unless  as  otherwise  agreed  in  writing  by  Company,  no             commissions shall be paid on sales that Company, in its sole discretion, does not             wish to fulfill.        D.    Time  of  Payment.   Company  shall  pay  the  applicable  commissions  to  Agent             within thirty (30) days after the close of the month following payment in full by             the customer.        E.    Commission Charge-Back.  Company shall have the absolute right to write off as             bad debts such overdue customer accounts as it deems advisable, in which case,             Company shall charge back to Agent’s account any amounts previously paid or             credited to it.  10.   Sale of the Products.        A.    Prices  and  Terms  of  Sale.   Company  shall  provide  Agent  with  copies  of  its             current  price  list,  delivery  schedules,  and  standard  terms  and  conditions  of  sale             (“Terms  of  Sale”),  as  may  be  modified  from  time  to  time  in  Company’s  sole             discretion.  Agent shall quote to customers, and all orders shall be controlled by,             only those authorized prices, delivery schedules, and Terms of Sale as provided             by Company.  Agent shall promptly furnish to Company copies of all quotations             submitted to customers.  Agent shall modify, add to or discontinue the offering of             certain Products immediately following written notice by Company.        B.    Customers.  Agent agrees and acknowledges that Products may only be marketed             and  sold  to  customers  that  are  medical  professionals  or  professional  medical             facilities  licensed  and  in  good  standing  in  the  state  in  which  such  medical             professional  or  medical  facility  practices  or  operates  (collectively,  “Qualified             Customers”).  Accordingly,  Agent  shall  not  market  or  sell  any  Products  to  any             customers that are not Qualified Customers, and any time Agent markets or sells             Products to customers, Agent shall verify, and upon Company’s request provide             documentation of such verification, that each such customer, at the time of such             marketing or sale, is a Qualified Customer.                                        5    CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL   AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED   WITH THREE ASTERISKS [***]

 

       C.    Acceptance.  All orders submitted to Company by Agent shall be subject to final              acceptance  by  Company  at  its  principal  office  and  all  quotations  by  Agent  to              customers shall contain a statement to that effect.  Agent shall have no authority              to  make  any  acceptance  or  delivery  commitments  to  customers.  Company              specifically reserves the right to reject any order or any part thereof for any reason              or no reason.         D.    Credit Approval.  Company shall have the sole right of credit approval or credit              refusal for customers in all cases, with or without cause.         E.    Collection.  Full responsibility for collection from customers rests with Company,              provided that Agent shall, at Company’s request, assist in such collection efforts.         F.    Inquiries from Outside the Territory.  Agent shall promptly submit to Company,              for Company’s attention and handling, the originals of all inquiries received by              Agent from customers outside the Territory.   11.   Compliance with Laws.   Agent acknowledges and recognizes that the Products are subject to regulation by local, state and   federal laws of the United States of America and its agencies, including, without limitation, the   Food and Drug Administration (the “FDA”).  Agent shall comply, and shall cooperate fully with   Company’s  compliance,  with all  governmental  laws,  ordinances,  rules,  and  regulations   applicable  in  connection  with  (i)  the  marketing,  sale,  installation,  set-up  and  training  of   customers on the usage of any Product in the Territory, and (ii) the fulfillment of any of Agent’s   obligations  under  this  Agreement,  including,  without  limitation,  compliance  with  the   requirements of the FDA and any other relevant authority having jurisdiction over the subject  matter hereof.     12.   Term and Termination.        A.    Term.  This Agreement shall commence on the Effective Date and continue for             two years thereafter, unless terminated earlier as provided herein (the “Term”).             Notwithstanding the foregoing, (i) either Party may terminate this Agreement at              any  time  for  any  reason  or  no  reason  upon  thirty  (30)  days’  written  notice  to              Agent, and (ii) either Party may terminate this Agreement at any time upon ten              (10) days’ written notice to the other Party if the other Party is in breach of this              Agreement  and  such  breach  has  not  been  cured  within  five  (5)  days  from              notification of such breach to the breaching Party.         B.    Return  of  Materials.   All  of  Company’s  trademarks,  trade  names,  patents,              copyrights,  designs,  drawings,  formulas  or  other  data,  photographs,              demonstrators, literature, and sales aids of every kind shall remain the property of              Company.   Within  ten  (10)  days  after  the  expiration  or  termination  of  this              Agreement, Agent shall, and shall cause Agent’s Parties to, return all such items              to Company at Agent’s expense. Agent shall not make or retain any copies of any              confidential  items  or  information  (including  Confidential  Information  (as  such              term is hereinafter defined)) that may have been entrusted to it.  Effective upon                                        6   CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL  AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED  WITH THREE ASTERISKS [***]

 

             the expiration or termination of this Agreement, Agent shall immediately cease to               use all trademarks, marks and trade name of Company.          C.    Obligations After Expiration or Termination.  The expiration or termination of              this Agreement shall not release either Party from any of its obligations under this              Agreement  which  by  their  nature  survive  termination  or  which  were  incurred              prior to the date of the termination.   12.   Limitation of Liability.   Upon expiration or termination by either Party in accordance with any of the provisions of this   Agreement, neither Party shall be liable to the other because of such expiration or termination for   compensation,  reimbursement  or  damages  on  account  of  the  loss  of  prospective  profits  or   anticipated  sales  or  on  account  of  expenditures,  investments,  leases  or  commitments  in   connection with the business or goodwill of Company or Agent.  In such a case, Company’s sole   liability under the terms of this Agreement shall be for any unpaid commissions.    13.   Confidentiality.   During  the  Term, Agent and Agent’s  Parties  may  have  access  to,  and  be  entrusted  with,   technical, proprietary, sales, legal, intellectual property and financial data and information with   respect  to  the  affairs  and  business  of Company,  its  affiliates,  subsidiaries,  customers,  partners   and  suppliers,  all  of  which  such  data  and  information,  whether  documentary,  written,  oral,  or   computer generated, shall be deemed to be, and referred to as, collectively, the “Confidential   Information,” except for such information which is now, or hereafter becomes, available in the   public domain, or is generally known, or hereafter becomes known, in the industry, through no   fault of Agent. Agent shall not, and shall cause Agent’s Parties not to, during the Term and at   any time thereafter, use the Confidential Information for its own use or for any purpose except   the performance of the Services performed under this Agreement.  Agent further agrees that it   will not, and shall cause Agent’s Parties not to, disclose Confidential Information to any person   without  the  prior  written  consent  of Company.  If  such  consent  to  disclosure  of  Confidential   Information  is  granted  to Agent,  then Agent shall  require  all  individuals,  to  whom  such  Confidential Information is disclosed, to sign a nondisclosure agreement acceptable to Company,  containing terms no less restrictive than the terms and conditions contained in this Agreement.  Such agreements shall be provided by Agent upon request by Company, and Agent shall notify   Company, in writing, of the names of such signatories to such agreements promptly after such   agreements are signed.  Agent agrees to, and shall cause Agent’s Parties to agree to, use not less   than a reasonable degree of care to protect the secrecy of the Confidential Information.  Agent   agrees to promptly advise Company in writing of any misappropriation or misuse by any person  of such Confidential Information which may come to its attention.  Any materials or documents  of Company  which  have  been  provided  to Agent shall  be  promptly  returned  by Agent to  Company,  accompanied  by  all  copies  of  such  documentation,  at  any  time  upon Company’s  request.  Agent acknowledges  that  a  breach  of  this  provision  may  cause  irreparable  harm  to  Company, for which the remedy at law shall be inadequate and the damages may be difficult to  ascertain,  and  therefore Agent hereby  agrees  that Company shall  be  entitled to  seek  equitable  relief by means of mandatory injunctions without being required to post bond or other security  and  without  having  to  prove  the  inadequacy  of  the  available  remedies  at  law.   This  right  of                                          7  CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND  (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED WITH  THREE ASTERISKS [***]

 

 equitable relief is in addition to any other rights (such as a right to damages and interest) that   may be available to Company.    14.   Non-Solicitation         A.    During the Term and for a period of one (1) year thereafter, Agent shall not, and              shall cause Agent’s Parties not to, whether in its or their own name and on its or              their behalf or in the name and on behalf of others, in any manner whatsoever,              offer, solicit, interfere with or endeavor to entice away from Company or any of             its  affiliates,  any  person,  firm  or  company  with  whom  Company  or  any  of  its             affiliates  has  any  contractual  or  commercial  relationship  as  an  employer,             consultant, licensor, licensee, joint-venture, supplier, customer, distributor, agent             or contractor of any nature.        B.    During the Term and for a period of one (1) year thereafter, Company shall not,             and shall cause Company’s employees not to, whether in its or their own name             and on its or their behalf or in the name and on behalf of others, in any manner             whatsoever, offer, solicit, interfere with or endeavor to entice away from Agent or             any of its affiliates, any person, firm or company with whom Agent or any of its             affiliates  has  any  contractual  or  commercial  relationship  as  an  employer,             consultant, licensor, licensee, joint-venture, supplier, customer, distributor, agent             or contractor of any nature.        C.    Agent  hereby  represents  and  warrants  to  Company  that  neither  it  nor  any  of             Agent’s Parties is a party to any non-competition or non-solicitation agreement,             and that it is not subject to any restriction or legal obligation, that would prohibit             or  prevent Agent  from  fulfilling  its  obligations  hereunder  and  performing  the             Services pursuant to the terms and conditions of this Agreement.  15.   Miscellaneous        A.    Assignment.  No rights or obligations of Agent hereunder or arising out of this             Agreement  may  be  assigned  by  merger,  reorganization,  change  of  control,             operation  of  law,  sale  of  all  or  substantially  all  assets  or  a  majority  of  capital             stock,  or  otherwise  without  the  prior  written  consent  of  Company.   Any  such             assignment  without  Company’s  prior  written  consent  shall  be  null  and  void.             Company’s  rights  and  obligations  hereunder  may  be  assigned  and  Company’s             duties hereunder may be delegated to any one or more affiliates or third parties in             whole or in part.  Company reserves the right to assign, and Agent acknowledges             and  consents  to  any  assignment  of,  the  accounts  receivable  resulting  from  this             Agreement,  to  one  or  more  third  parties  as  part  of  a  factoring  arrangement  or             otherwise.        B.    Entire  Agreement.   This  Agreement  constitutes  the  complete  understanding             between the Parties with respect to the subject matter hereof, supersedes all prior             oral  or  written  understandings  and  agreements  relating  thereto  and  shall  not  be             modified,  amended  or  terminated  except  as  provided  herein  or  by  written                                         8    CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL   AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED   WITH THREE ASTERISKS [***]

 

            instrument signed by all of the Parties and identifying itself as an amendment to             this  Agreement.  Neither  Party  is  acting  in  reliance  upon  any  representation  or              guarantee of the other besides those explicitly provided for in this Agreement.         C.    No Waiver.  No failure or delay on the part of either Party in the exercise of any             right  hereunder  shall  impair  such  right  or  be  construed  to  be  a  waiver  of,  or             acquiescence in, any breach of any representation, warranty or agreement herein,             nor  shall  any  single  or  partial  exercise  of  any  such right preclude  any  other  or             further exercise thereof or of any other right.        D.    Notices.  All  notices,  demands  or  other  communications  required  or  provided             hereunder shall be in writing and shall be deemed to have been given and received             (i) upon delivery, when delivered in person or by a nationally reputable overnight             courier; (ii) upon transmission, when transmitted by electronic (including e-mail)             or  facsimile  transmission  to  the  respective  Party  (with  confirmation  of             transmission by the transmitting equipment); or (iii) five (5) days after dispatch,             when  sent  by  certified  or  registered  mail,  postage  prepaid,  return  receipt             requested; in each of the foregoing cases, addressed to the respective Party at the             addresses set forth below or at such other address as such Party may designate by            notice to the other Party, in accordance with the provisions of this Section 15(D).              If to Company:               Soliton, Inc.              5304 Ashbrook Dr.              Houston, Texas 77081              Attention:  Lori Bisson              Email:  lbisson@soliton.com               with a copy to (which shall not constitute notice):               Schiff Hardin LLP              100 N. 18th Street               Suite 300               Philadelphia, PA 19103               Attention: Cavas S. Pavri              Email:  cpavri@schiffhardin.com               If to Agent:               Aesthetic Solutions, Inc.              6732 N. County Road 1250 W              Norman, IN  47264              Attention:  Tim Howder              Email:  tim@asilasers.com                                          9   CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL  AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED  WITH THREE ASTERISKS [***]

 

       E.    Severability.  If any term or other provision of this Agreement is invalid, illegal or              incapable  of  being  enforced  by  any  rule  of  law  or  public  policy,  all  other              conditions  and  provisions  of  this  Agreement  shall  nevertheless  remain  in  full              force  and effect  so  long  as  the  economic  or  legal  substance  of  the  transaction              contemplated  hereby  is  not  affected  in  any  manner  materially  adverse  to  either              Party.         F.    Counterparts.  This Agreement may be executed in one (1) or more counterparts              (including  via  PDF  or  facsimile)  and  by  the  different  Parties  in  separate              counterparts, each of which when executed shall be deemed to be an original but              all of which taken together shall constitute one and the same Agreement.         G.    Governing Law; Jurisdiction; and Wavier of Jury Trial.  This Agreement shall              be governed by, and construed in accordance with, the internal laws of the State              of Texas applicable to contracts executed and fully performed within the State of              Texas,  excluding  any  conflicts  of  law  or  principles  that  might refer the              governance or construction of this Agreement to the laws of any jurisdiction other              than  the State  of Texas.   The  Parties  agree  to  submit  any  matter  or  dispute              resulting  from,  arising  out  of  or  related  to  the  execution,  performance,              interpretation,  breach,  or  termination  of  this  Agreement  to  the  non-exclusive              jurisdiction of Federal or state courts within Harris County, Texas.  Each of the              Parties  agrees  that  service  of  any  process,  summons,  notice  or  document  in  the              manner  set  forth  in Section  15(D) hereof,  or  in  such  other  manner  as  may  be              permitted  by  law,  shall  be  effective  service  of  process  for  any  action,  suit,  or              proceeding  in  the State  of Texas with  respect  to  any  matters  to  which  it  has             submitted to jurisdiction in this Section 15(G).  Each of the Parties irrevocably              and  unconditionally  agrees  that  it  is  subject  to,  and  hereby  submits  to,  the              personal  jurisdiction  of  the  courts  located  in the Harris  County,  Texas for  any              action,  suit,  or  proceeding  arising  out  of  this  Agreement  or  the  transactions              contemplated  hereby,  and  waives  any  objection  to  the  laying  of  venue  in  the              United States District Court for the Southern District of Texas, or Harris County,             Texas courts if the Federal jurisdictional standards are not satisfied, and hereby             further irrevocably and unconditionally waives and agrees not to plead or claim in             any such court that any such action, suit, or proceeding brought in any such court             has  been  brought  in  an  inconvenient  forum.   To  the  fullest  extent  permitted  by             applicable law, the Parties hereby irrevocably waive all their rights to a trial by             jury and the right to interpose counterclaims or setoffs of any kind and description             in any litigation arising hereunder.        H.    Use of name.  Agent agrees that, without the advanced express written consent of             Company, it (or any Agent’s Parties) may not (i) use the name of Company or (ii)              refer to any of the technologies, medical devices, or intellectual property subject              to this Agreement, in  each  of  the  foregoing  cases, on  its  website  or  in  any of              Agent’s press releases, marketing or promotional materials.         I.    Interpretation.   The  Parties  agree  that  this  Agreement  is  the  product  of              negotiation  between  sophisticated  parties  and  individuals,  all  of  whom  were                                         10   CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND  (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED WITH  THREE ASTERISKS [***]

 

             represented  by  counsel,  and  each  of  whom  had an  opportunity  to  participate  in              and  did  participate  in,  the  drafting  of  each  provision  hereof.  Accordingly,              ambiguities in this Agreement, if any, shall not be construed strictly or in favor of              or against either Party and no presumption or burden of proof shall arise forgiving              or  disfavoring  either  Party  by  virtue  of  the  authoring  of  any  provision  of  this              Agreement.         J.    Third  Party  Beneficiaries.   Except  as  set  forth  in Section  15(A) hereof,  this              Agreement shall not confer any rights or remedies upon any person or entity other             than the Parties and their respective successors and permitted assigns, and no such             person or entity shall be entitled to rely hereon.        K.    Headings.   The  headings  and  subheadings  contained  in  this  Agreement  are  for             reference  purposes  only  and  shall  not  affect  in  any  way  the  meaning  or             interpretation of this Agreement.                                [Signature Page Follows]                                           11   CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND  (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED WITH  THREE ASTERISKS [***]

 

         IN WITNESS WHEREOF, Company and Agent have caused this Distribution and Sale     Agreement to be executed by their duly authorized officers as of the Effective Date.      Soliton, Inc.      By: __________________________________/s/ Lori Bisson             Name:  Lori Bisson           Title:   EVP and Chief Financial Officer      Aesthetic Solutions, Inc.      By:  __________________________/s/ Timothy Howder _______        Name:  Timothy Howder        Title:  President                                      [Signature Page]   CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL  AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED  WITH THREE ASTERISKS [***]

 

                                                           EXHIBIT A                                                                Products      Rapid Acoustic Pulse device console (“RAP Device”)      Disposable tattoo removal cartridges for the RAP Device      Disposable cellulite reduction cartridges for the RAP Device    CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL  AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE REDACTED TERMS HAVE BEEN MARKED  WITH THREE ASTERISKS [***]Document

Exhibit 10.2

FIRST AMENDMENT TO THE
SOLITON, INC. 2018 STOCK PLAN
(AMENDED AND RESTATED)

WHEREAS, Soliton, Inc., a Delaware corporation (the “Company”), maintains the Soliton, Inc. 2018 Stock Plan (Amended and Restated) (the “Plan”); and 
WHEREAS, the Board of Directors of the Company has reserved the authority to amend the Plan and now deems it appropriate to do so.
NOW THEREFORE, the Plan is hereby amended, effective as of November 10, 2020, as follows:
Section 12 is amended to read as follows:
Section 12.    Nontransferability.

    (a)    Except as set forth in Section 12(b) below, Awards granted under the Plan, and any rights and privileges pertaining thereto, may not be transferred, assigned, pledged or hypothecated in any manner, or be subject to execution, attachment or similar process, by operation of law or otherwise, other than by will or by the laws of descent and distribution.  

    (b)    Notwithstanding Section 12(a), a Participant, at any time prior to his or her death, may assign all or any portion of an outstanding NSO to (i) his or her spouse or lineal descendant, (ii) the trustee of a trust for the primary benefit of his or her spouse or lineal descendant, (iii) a partnership of which his or her spouse and lineal descendants are the only partners, or (iv) a tax exempt organization as described in Section 50l(c)(3) of the Code. In such event, the transferee shall be entitled to all of the rights of the Participant with respect to the assigned portion of such NSO, and such portion of the NSO shall continue to be subject to all of the terms, conditions and restrictions applicable to the NSO, as set forth herein, and in the related Stock Option Agreement, immediately prior to the effective date of the assignment. Any such assignment will be permitted only if the Participant does not receive any consideration therefor, and the assignment is expressly approved by the Company. Any such assignment shall be evidenced by an appropriate written document executed by the Participant, and a copy thereof shall be delivered to the Company on or prior to the effective date of the assignment.

IN WITNESS WHEREOF, this First Amendment has been executed on this 10th day of November, 2020.
SOLITON, INC.

By:   /s/ Lori Bisson    
Executive Vice-President,
Chief Financial Officer

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