Document:

BOARD ADVISORY AGREEMENT

    

    

    This Board Advisory Agreement (this “Agreement”) is made and entered into as of the 23rd day of December, 2020, by and between Eco Science
      Solutions, Inc., a Nevada corporation (the “Company”), and A. Carl Mudd, an individual (“Advisor”).  In consideration of the mutual promises contained herein, the parties
      agree as follows:

    

    

    1. Services and Compensation.

    

    

    (a) Advisor has agreed to serve as the Chairman of the Board of Directors of the Company (the “Board”) and as Ombudsman for the Company pursuant to Rule 53 of
      the Federal Rules of Civil Procedure, as well as the Stipulation of Settlement Dated September 21, 2020 (the “Stipulation”).

    

    

    (b) As Chairman of the Board, Advisor shall preside at meetings of the Board and meetings of the Company’s stockholders, and shall see that all orders and resolutions of the Board are carried into
      effect, in accordance with the Company’s Bylaws, and have all necessary powers and plenary authority to establish policies for corporate management and oversight, to appoint any and all necessary committees, to participate in operations strategy, and
      to oversee corporate personnel recruiting and retention.  As Ombudsman, Advisor shall have all necessary powers and authority to ensure the full and faithful adoption by the Board, implementation and operation of appropriate corporate governance
      policies, procedures and reforms, and to establish policies for corporate management and oversight for the Company as set forth in the Stipulation.  The Ombudsman shall prepare, or oversee the preparation of, reports on the advisability, viability
      and implementation of the Company’s corporate governance policies, procedures and reforms, which reports shall be included in the Company’s Annual Report on Form 10-K.  As Ombudsman, Advisor shall perform such other duties as the Board may from time
      to time prescribe.

    

    

    (c) In consideration for serving as Ombudsman and Chairman of the Board, the Company will: (i) issue Advisor two million five hundred thousand (2,500,000) shares of Company common stock (the “Restricted Stock”), subject to the conditions hereinafter provided; and (ii) pay Advisor an advisory fee of ten thousand dollars ($10,000) per month in advance, commencing December 24, 2020; provided, however, that at least one-half of the monthly fee, in the amount of five thousand dollars ($5,000), must be paid to Advisor on a monthly basis, and up to one-half of the monthly fee, in the amount of
      five thousand dollars ($5,000), may be accrued on a monthly basis until the Company [has closed a bona fide third party debt and/or equity financing of at least eight hundred thousand dollars ($800,000) (the “Financing”).

      It is expressly agreed and understood that the accruing portion of the cash compensation payable to Advisor pursuant to Section 1(c)(ii) shall accrue on a monthly basis prior to the Financing and that all such accrued amounts shall be payable to
      Advisor within thirty (30) days following the completion of the Financing.

    

    

    (d) Other than as set forth in Section 1(c) above, any and all additional compensation payable to Advisor shall be as approved by the Board and shall be consistent with compensation provided to other
      independent members of the Board and in accordance with Company policy.

    
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    2. Provisions Regarding Restricted Stock.

    

    

    (a)  Vesting of Restricted Stock and Stock Certificates.

    

    

    (i)  Vesting and Registration.  The right to unrestricted ownership in the Restricted Stock granted under this Agreement shall vest immediately upon execution and delivery of this
      Agreement by both Advisor and the Company. Subject to applicable U.S. securities laws, the Company agrees to register the Restricted Stock on a Form S-8 registration statement within ten (10) days of the removal of the caveat emptor symbol affixed to
      the Company by the OTC Marketplace.

    

    

    (iii)  Deliveries by the Company.  A certificate evidencing the Restricted Stock shall be issued by the Company in Advisor’s name, pursuant to which Advisor shall have voting rights
      and shall be entitled to receive all dividends unless and until the shares of Restricted Stock are forfeited pursuant to this Agreement. The certificate shall bear a legend evidencing the nature of the Restricted Stock, and the Company may cause the
      certificate to be delivered upon issuance to the Secretary of the Company or to such other depository as may be designated by the Company for safekeeping until all forfeiture restrictions lapse pursuant to the terms of this Agreement.

    

    

    Notwithstanding any other provisions of this Agreement, the issuance or delivery of the Restricted Stock under this Agreement may be postponed for such period as may be required to comply with
      applicable requirements of any national securities exchange or any requirements under any applicable federal or state securities law or regulation.  The Company shall not be obligated to issue or deliver any Restricted Stock if the issuance or
      delivery thereof shall constitute a violation of any provision of any law or regulation of any governmental authority or any national securities exchange, or to register or qualify the issuance of the Restricted Stock in any jurisdiction or with the
      Securities and Exchange Commission.

    

    

    (b)  Reservation of Shares.  The Company agrees that prior to the issuance of the Restricted Stock represented by this Agreement, there shall be reserved for issuance such number of
      the Company’s authorized and unissued shares as shall be necessary to allow for the issuance of the Restricted Stock issuable hereunder.

    

    

    (c)  Suspension and Cancellation of Stock.

    

    

    (i)  In the event the Company reasonably believes Advisor has committed any act of misconduct, as specified below, the Company may suspend Advisor’s right in the Restricted Stock granted hereunder
      pending final determination by the Board.  If Advisor is determined by the Board to have:

    

    

    (1) committed an act of embezzlement, fraud, dishonesty, breach of fiduciary duty to the Company or a subsidiary;

    

    

    (2) deliberately disregarded the rules or policies of the Company or a subsidiary which resulted in loss, damage or injury to the Company or a subsidiary;

    

    

    (3) made any unauthorized disclosure of any trade secret or confidential information of the Company or a subsidiary;

    

    

    
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    (4) induced any partner, collaborator, client or customer of the Company or a subsidiary to break any contract with the Company or a subsidiary or induced any principal for whom the Company or a
      subsidiary acts as agent to terminate such agency relations;

    

    

    (5) engaged in any substantial conduct which constitutes unfair competition with the Company or a subsidiary; or

    

    

    (6) violated any requirement of the Foreign Corrupt Practices Act or any analogous foreign regulations,

    

    

    neither Advisor nor Advisor’s estate shall be entitled to shares of Restricted Stock hereunder, and such forfeited Restricted Stock shall be immediately transferred to the Company without further action by the Company.
      The determination of the Board shall be final and conclusive. In making its determination, the Board shall give Advisor an opportunity to appear and be heard at a hearing before the full Board and present evidence on Advisor’s behalf.

    

    

    (d)  Advisor Representations.  Advisor hereby represents and warrants to the Company as follows:

    

    

    (i)  Purchase for Own Account. Advisor represents that he is acquiring the Restricted Stock solely for his own account and beneficial interest for investment and not for sale or with
      a view to distribution of the Restricted Stock or any part thereof, has no present intention of selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the same, and does not presently have
      reason to anticipate a change in such intention.

    

    

    (ii) Information and Sophistication.  Advisor hereby: (x) acknowledges that he has received all the information he has requested from the Company and he considers necessary or
      appropriate for deciding whether to acquire the Restricted Stock, (y) represents that he has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Restricted Stock and to
      obtain any additional information necessary to verify the accuracy of such information, and (z) further represents that he has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risk of
      this investment.

    

    

    (iii)  Ability to Bear Economic Risk.  Advisor acknowledges that an investment in the Restricted Stock involves a high degree of risk, and represents that he is able, without
      materially impairing his financial condition, to hold the Restricted Stock for an indefinite period of time and to suffer a complete loss of his investment.

    

    

    (iv)  Further Assurances.  Advisor agrees and covenants that at any time and from time to time he will promptly execute and deliver to the Company such further instruments and
      documents and take such further action as the Company may reasonably require in order to carry out the full intent and purpose of this Agreement and to comply with applicable state or federal laws or other regulatory approvals.

    

    

    
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    (e)  Restricted Securities.  Advisor understands that the Restricted Stock is characterized as “restricted securities” under the Securities Act of 1933, as amended (“Securities Act”) inasmuch as such shares are being acquired from the Company in a transaction not involving a public offering, and that under the Securities Act and applicable regulations thereunder, such
      securities may be resold without registration under the Securities Act only in certain limited circumstances. Accordingly, the Restricted Stock, absent an effective registration statement, can only be sold pursuant to an exemption from registration,
      such as Rule 701 or Rule 144 promulgated under the Securities Act.

    

    

    (f)  Restrictive Legends and Stop-Transfer Orders.

    

    

    (i)  Legends. Advisor understands and agrees that the Company will place the legend set forth below, as applicable, or similar legends on any stock certificate(s) evidencing the
      Restricted Stock, together with any other legends that may be required by applicable state or federal securities laws, the Company’s Articles of Incorporation or Bylaws, any other agreement between Advisor and the Company or any agreement between
      Advisor and any third party:

    

    

    THE SECURITIES  REPRESENTED BY THIS  CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).  THE SHARES REPRESENTED BY THIS
      CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISPOSITION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF
      COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT.

     

    

    (ii) Stop Transfer Instructions.  Advisor agrees that, to ensure compliance with the restrictions imposed by this Agreement, the Company may issue appropriate “stop-transfer”
      instructions to its transfer agent, if any, and if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

    

    

    (iii) Refusal to Transfer.  The Company will not be required (A) to transfer on its books any Restricted Stock that has been sold or otherwise transferred in violation of any of the
      provisions of this Agreement, or (B) to treat as owner of such Restricted Stock, or to accord the right to vote or pay dividends, to any purchaser or other transferee to whom such Restricted Stock has been so transferred.

    

    

    (g)  Securities Law and Other Regulatory Compliance.  The Company shall not be obligated to issue any Restricted Stock with respect to this Agreement unless such shares are at that
      time effectively registered or exempt from registration under the federal securities laws and the offer and sale of the shares are otherwise in compliance with all applicable securities laws. Advisor may be required to furnish representations or
      undertakings deemed appropriate by the Company to enable the offer and sale of the shares or subsequent transfers of any interest in such shares to comply with applicable securities laws. Evidences of ownership of shares acquired with respect to this
      Agreement shall bear any legend required by, or useful for purposes of compliance with, applicable securities laws or this Agreement.

    
      4

      
        

    

    

    

    3. Confidentiality.

    

    

    (a) “Confidential Information” means any Company proprietary information, technical data, trade secrets or know-how, including, but not limited to, research,
      services, current and prospective clients, client lists, markets, processes, financial information, marketing, or other business information developed by Advisor pursuant to this Agreement or disclosed by the Company either directly or indirectly in
      writing, orally or by drawings.

    

    

    (b) Advisor will not, during or subsequent to the term of this Agreement, use the Company’s Confidential Information for any purpose whatsoever other than the performance of services on behalf of the
      Company, or disclose the Company’s Confidential Information to any third party.  It is understood that said Confidential Information shall remain the sole property of the Company. Advisor further agrees to take all reasonable precautions to prevent
      any unauthorized disclosure of such Confidential Information.  Confidential Information does not include information which (i) is known to Advisor at the time of disclosure to Advisor by the Company as evidenced by written records of Advisor, (ii)
      has become publicly known and made generally available through no wrongful act of Advisor, (iii) has been rightfully received by Advisor from a third party who is authorized to make such disclosure, or (iv) has been or is independently developed by
      Advisor, without violating any of its obligations under this Agreement or use of or reference to, in whole or in part, any of the Company’s Confidential Information.  Without the Company’s prior written approval, Advisor will not directly or
      indirectly disclose to anyone the contents of this Agreement.

    

    

    (c) Advisor recognizes that the Company has received and in the future will receive from third parties their confidential or proprietary information subject to a duty on the Company’s part to
      maintain the confidentiality of such information and to use it only for certain limited purposes. Advisor agrees that Advisor owes the Company and such third parties, during the term of this Agreement and thereafter, a duty to hold all such
      confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out his duties for the Company consistent with the Company’s agreement with
      such third party.

    

    

    (d) Upon the termination of this Agreement, or upon the Company’s earlier request, Advisor will deliver to the Company all of the Company’s property or Confidential Information that Advisor may have
      in Advisor’s possession or control.

    

    

    4. Ownership. Advisor agrees that all copyrightable material, notes, records, drawings,
      designs, inventions, improvements, developments, discoveries and trade secrets (“Intellectual Property”) conceived, made or discovered by Advisor, solely or in collaboration with others, in his role as a member
      of the Board during the term of this Agreement, which relates solely to the business of the Company that Advisor may be directed to undertake, investigate or experiment with, or which Advisor may become associated with in work, investigation or
      experimentation in the line of business of the Company in serving on the Board, are the sole property of the Company. 

    

    

    5. Termination.

    

    

    (a) The term of this Agreement shall be four (4) years or as set forth in the Stipulation. This Agreement may be terminated by either party upon thirty (30) days notice for material breach. If the
      caveat emptor symbol affixed to the Company is not removed by the OTC Marketplace by February 28, 2021, that shall constitute a material breach under this Section. In addition, this Agreement shall terminate in the event of the resignation of Advisor
      from the Board.

    
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    (b) Upon such termination all rights and duties of the parties toward each other shall cease, except that Sections 3 (Confidentiality) and 6 (Independent Contractor) shall survive termination of this
      Agreement.

    

    

    6. Independent Contractor. Advisor shall serve on the Board as an independent contractor.
      Advisor acknowledges and agrees that Advisor is obligated to report as income all compensation received by Advisor pursuant to this Agreement, and Advisor agrees to and acknowledges the obligation to pay all self-employment and other taxes thereon.
      Advisor further agrees to indemnify the Company and hold it harmless to the extent of any obligation imposed on the Company (i) to pay in withholding taxes or similar items or (ii) resulting from Advisor’s being determined not to be an independent
      contractor.

    

    

    7. Miscellaneous.

    

    

    (a) Entire Agreement.  This Agreement is the entire agreement of the parties and supersedes any prior or contemporaneous agreements, whether oral or written, between them with
      respect to the subject matter hereof.  This Agreement may be changed only if agreed to in writing by both parties.

    

    

    (b) Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be an original, but all of which together shall constitute one and the same
      instrument.

    

    

    (c) Severability; Conflicts.  If any provision of this Agreement is held to be unenforceable for any reason, such provision shall be adjusted rather than voided, if possible, in
      order to achieve the intent of the parties to the maximum extent possible.  In any event, all other provisions of this Agreement shall be deemed valid and enforceable to the full extent possible.

    

    

    (d) Waiver.  The waiver of any term or condition contained in this Agreement by any party to this Agreement shall not be construed as a waiver of a subsequent breach or failure of
      the same term or condition or a waiver of any other term or condition contained in this Agreement.

    

    

    (e) Assignment.  Neither this Agreement nor any right hereunder or interest herein may be assigned or transferred by Advisor without the express written consent of the Company.

    

    

    (f) Governing Law.  This Agreement shall be governed by the laws of the State of Nevada, excluding its conflicts of laws provisions.

    

    

    

    

    [Remainder of Page Intentionally Left Blank; Signature Page Follows]

    
      6

      
        

    

    

    

    IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

     

    

    
      	 	COMPANY

            	 
	

            	

            	 
	 	
              ECO SCIENCE SOLUTIONS, INC., 

              a Nevada corporation

            	 
	 	 	 
	 	 	 	 
	
              

              

            	
              By: 

            	/s/Michael D. Rountree

            	 
	 	 	Michael D. Rountree

            	 
	 	 	Chief Financial Officer 

            	 
	 	 	 	 
	 	ADVISOR

            	 
	 	 	 
	 	A. CARL MUDD

            	 
	 	 	 	 
	 	 	 	 
	 	By:

            	/s/A. Carl Mudd 

            	 
	 	 	A. Carl Mudd 

            	 

    

  

   

    

   

    

  7EX-4.1

 Exhibit 4.1 

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. SUCH EXCLUDED INFORMATION HAS BEEN MARKED WITH “[***]”. 
 UNIVERSITY OF
MINNESOTA 
 EXCLUSIVE PATENT LICENSE AGREEMENT 

THIS EXCLUSIVE PATENT LICENSE AGREEMENT (this “Agreement”) is made by and between Regents of the University of Minnesota, a
constitutional corporation under the laws of the state of Minnesota, having a place of business at 1000 Westgate Drive, Suite 160, St. Paul, Minnesota 55114 (the “University”), and the Licensee identified below. The University and the
Licensee agree that: 
 The Terms and Conditions of Exclusive Patent License attached hereto as Exhibit A (the “Terms and
Conditions”) are incorporated herein by reference in their entirety. In the event of a conflict between provisions of this Agreement and the Terms and Conditions, the provisions in this Agreement shall govern. Capitalized terms used in this
Agreement without definition shall have the meanings given to them in the Terms and Conditions. The section numbers used in the parentheses below correspond to the section numbers in the Terms and Conditions. 

1. Licensee (§1.7): Cellectis SA, a Corporation under the laws of the country of France, having a place of business at 102 Avenue
Gaston Roussel, Romainville, France, 93 235, and its Affiliates. 
 2. Field(s) of Use (§1.3): All 

3. Territory (§1.15): Any country or territory where issued and unexpired Licensed Patent and/or Licensed Patent Application exists.

 4. Effective Date (§2): Date of the last signature of the Agreement. 

5. Licensed Technology: 
 5.1 Licensed
Patents(s) (§1.4): None 
 5.2 Licensed Patent Applications (§1.9): 

 

							
	 Application No.
	  	 Country
	  	 Filing Date
	  	 Title

	61/285,324	  	USA	  	10 December 2009	  	 TAL Effector-Mediated

DNA Recognition and Cleavage

				
	61/352,108	  	USA	  	07 June 2010	  	 Modular Assembly of

TAL Effector Sequences

				
	61/366,685	  	USA	  	22 July 2010	  	 TAL Effector-Mediated

DNA Recognition and Cleavage

				
	US 10/59932	  	PCT	  	10 December 2010	  	 TAL Effector-Mediated

DNA Recognition and Cleavage

				
	US 12/965,590	  	US	  	10 December 2010	  	 TAL Effector-Mediated

DNA Recognition and Cleavage

 6. Patent-Related Expenses (§§1.10 & 6.3): The Licensee shall reimburse the
University for Patent-Related Expenses incurred before and during the Term as provided in section 6.3 of the attached Terms and Conditions. 
 7.
Sublicense Rights (§3.1.2): Yes 
 FORM: OGC-401 

Form Date: 12.18.01 
 Revision Date: 5.03.10 

 8. Federal Government Rights (§3.2): Yes 

9. Performance Milestones (§5.1): The Licensee shall achieve the following milestones within the number of months specified of the
Effective Date: 
 9.1 [***] 

9.1.1 [***] 

9.1.2 [***] 

9.1.3 [***] 
 9.2
Agricultural Biotechnology 
 9.2.1 [***] 

9.2.2 [***] 
 9.3 Any Field 

9.3.1 [***] 
 10.
Commercialization Reports (§5.4): The Licensee shall deliver written commercialization reports to the University as provide in section 5.4 of the Terms and Conditions, on the following schedule: annually on each anniversary of
the Effective Date. 
 11. Payments (§6.1). All amounts are non-refundable, and payable as
defined below or as specified in the University’s invoice. 
 11.1 Upfront Payment: Two hundred fifty thousand and NO/100 dollars
($250,000), payable within fifteen (15) business days after the Effective Date. 
 11.2 Annual Maintenance Fee: None 

11.3 Document Fee: None 
 11.4
Running Royalties and Annual Minimums. 
 11.4.1 Subject to subsection 11.4.2, and 11.4.3, the Licensee shall pay the
University a royalty of [***] subject to Royalty Stacking, of the Net Sales Price of Commercial Sales of Licensed Products protected by a Valid Claim, determined and payable as provided in section 6.4 of the Terms and Conditions. 

 
 FORM: OGC-401 

Form Date: 12.18.01 
 Revision Date: 5.03.10 

  
 2 

 11.4.2 “Royalty Stacking” means that if Licensee, in order to
exploit the Licensed Technology, is required to take a royalty bearing license from a Third Party, Licensee shall be allowed to reduce the royalty due to the University by [***] for each [***] of royalty due to such Third Party. The royalty due to
the University shall however always be at least [***]. 
 11.4.3 The amount of total annual minimum payments owed by the
Licensee to the University under this Agreement shall be sixty thousand and NO/100 dollars ($60,000). 
 11.5 Sublicense Revenues. As
determined and payable as provided in section 6.4 of the Terms and Conditions, the Licensee shall pay to the University [***] of all Sublicense Revenues. This rate applies only to sublicenses that grant the sublicensee the right to practice the
Licensed Technology to make Licensed Products. Sublicenses provided to customers of Licensee who purchase Licensed Products but not the right to practice the Licensed Technology to make Licensed Products shall be reported as royalty by Licensee on
the Net Sales Price as specified in subsection 11.4.1. 
 11.6 Milestone Payments: Within ten (10) business days of each Milestone
below, Licensee shall pay University as follows: 
 11.6.1 [***] 

11.6.2 [***] 

11.6.3 [***] 

11.7 Equity: N/A. 
 11.8
Transfer Payment: [***] 
 11.9 Administrative Handling Fee: None 

11.10 Interest Rate: [***] per annum. 
  

FORM: OGC-401 
 Form
Date: 12.18.01 
 Revision Date: 5.03.10 

  
 3 

 12. Licensee’s Address for Notice (§12.13). Notices will be sent to the
Licensee at: 
 Cellectis S.A. 

Attn: André Choulika (CEO) 

102, Ave, Gaston Roussel 

Romainville Cedex, FRANCE 93 235 

Voice Phone No.: 
 Facsimile
No.: 
 Email: 
 13. Licensee’s Contact
Person for Patent Prosecution Consultation (§4.2.1). The University will, as set forth in this Agreement, communicate with the contact person named below with respect to patent prosecution and maintenance: (Upon ten
(10) days prior written notice to the University, the Licensee may change the person designated below.) 
 Intellectual Property
Manager 
 Cellectis SA 
 102,
Av. Gaston Roussel 
 Facsimile No.: 

Email: 
 IN WITNESS WHEREOF, the
parties hereto have caused their duly authorized representatives to execute this Agreement. 
  

							
	Regents of the University of Minnesota	  	Cellectis S.A
				
	By:	  	 /s/ Jay W. Schrankler
	  	By:	  	 /s/ André Choulika

		  	Jay W. Schrankler	  		  	Name:André Choulika
		  	Executive Director	  		  	Title: Chief Executive Officer
		  	Office for Technology Commercialization	  		  	
				
	Date:	  	 1-10-2011
	  	Date:	  	 January the 4th 2011

 FORM: OGC-401 

Form Date: 12.18.01 
 Revision Date: 5.03.10 

  
 4 

 UNIVERSITY OF MINNESOTA 

EXHIBIT A 
 Terms and
Conditions 
 Exclusive Patent License Agreement 

These terms and conditions to the Exclusive Patent License Agreement (“Terms and Conditions”) govern the grant of license by Regents
of the University of Minnesota (“University”) to the Licensee identified in the Exclusive Patent License Agreement (the “EPLA”). These Terms and Conditions are incorporated by reference into the EPLA. All section references in
these Terms and Conditions refer to provisions in these Terms and Conditions unless explicitly stated otherwise. 
 1. Definitions. For purposes of
interpreting this Agreement, the following terms have the following meanings: 
 1.1 “Affiliate” means an entity is an
“Affiliate” of the Licensee or sublicensee if such entity that controls the Licensee or the sublicensee, as the case may be, is controlled by the Licensee or sublicensee, or along with the Licensee or sublicensee, is under the common
control of a third party. An entity shall be deemed to have control of the controlled entity if it (i) owns, directly or indirectly, ten percent (10%) or more of the outstanding voting securities of the controlled entity, or (ii) has the
right, power or authority, directly or indirectly, to direct or cause the direction of the policy decisions of the controlled entity, whether by ownership of securities, by representation on the controlled entity’s governing body, by contract,
or otherwise. 
 1.2 “Commercial Sale” means a bona fide sale, use, lease, transfer or other disposition for value of a Licensed
Product by the 
 Licensee or a sublicensee to a third party that is not an Affiliate of the Licensee. 

1.3 “Field of Use” means the field(s) of use described in section 2 of the EPLA. 

1.4 “Licensed Patent” means the patent(s) described in section 5 of the EPLA, along with any issued and unexpired patent(s) issued
during the Term that arose out of a Licensed Patent Application. “Licensed Patent” also means any reissues or reexaminations of a Licensed Patent that contain one or more claims directed to Licensed Technology. 

1.5 “Licensed Patent Application” means the pending patent application(s) described in section 5 of the EPLA. “Licensed Patent
Application” also means any related applications including, continuations, continuations-in-part, and divisionals of a Licensed Patent Application. 

1.6 “Licensed Product” means any product or good in the Field of Use that is (a) made by, made for, sold, transferred, or
otherwise disposed of by the Licensee, its Affiliates, or its 
 FORM: OGC-401 

Form Date: 12.18.01 
 Revision Date: 5.03.10 

  
 A-1 

 
sublicensees during the Term and the Post-termination Period and that, but for the granting of the rights set forth in this Agreement, would (i) infringe (including under the doctrine of
equivalents) one or more Valid Claims in a Licensed Patent; or (ii) is covered by one or more claims in a Licensed Patent Application; or (b) any product or good that is made using a process or method that, but for the granting of rights
set forth in this Agreement, would (i) infringe (including under the doctrine of equivalents) one or more Valid Claims in a Licensed Patent; or (ii) is covered by one or more claims in a Licensed Patent Application. For purposes of this
Agreement, claims in a Licensed Patent Application are to be treated as if they were allowed as proposed. “Licensed Product” also means any service provided by or for the Licensee or its sublicensees, but for the granting of the rights set
forth in this Agreement, would (i) infringe (including under the doctrine of equivalents) one or more Valid Claims in a Licensed Patent; or (ii) is covered by one or more claims in a Licensed Patent Application. 

1.7 “Licensed Technology” means collectively the inventions claimed in each Licensed Patent and each Licensed Patent 

Application. 
 1.8
“Licensee” means the entity identified in section 1 of the EPLA. 
 1.9 “Net Sales Price” means [***]. 

1.10 “Patent-Related Expenses” means costs and expenses (including
out-of-pocket attorneys’ fees, patent agent fees and governmental filing fees) that the University incurs in prosecuting and maintaining the Licensed Technology.

 1.11 “Performance Milestone” means an act or event specified in section 5.1 and described in section 9 of the EPLA. 

1.12 “Post-termination Period” means the one hundred eighty (180) day period commencing on the date of termination or
expiration of the Term. 
 1.14 “Sublicense Revenues” means [***]. 

1.15 “Territory” means the geographical area described in section 3 of the EPLA. 

1.16 “Third Party” means any party other than the University or Licensee. 

1.17 “Transfer Payment” means the payment to be made by the Licensee to the University specified in section 12.5 and described in
section 11 of the EPLA. 
  
 FORM: OGC-401 

Form Date: 12.18.01 
 Revision Date: 5.03.10 

  
 A-2 

 1.18 “Valid Claim” means (a) a claim in a Licensed Patent, claiming priority
from a Licensed Patent Application, which has not been held unenforceable or invalid by a court or other governmental agency of competent jurisdiction in an unappealed or unappealable decision and which has not been abandoned, disclaimed, or
admitted to be invalid or unenforceable, through reissue or otherwise; or (b) a claim in a Licensed Patent Application which has not been held unenforceable or invalid by a court or other governmental agency of competent jurisdiction in an
unappealed or unappealable decision and which has not been abandoned, disclaimed, or admitted to be invalid or unenforceable, through reissue or otherwise. 

2. Term. The term of this Agreement commences on the Effective Date as defined in section 4 of the EPLA and, unless terminated earlier as provided in
section 8, expires on the date on which both no Licensed Patent is active in the Territory and no Licensed Patent Application is pending in the Territory (the “Term”). 

3. Grant of License. 
 3.1 The
Licensee’s Rights. 
 3.1.1 Subject to the terms and conditions of this Agreement, the University hereby grants to the
Licensee, and the Licensee hereby accepts, an exclusive license to make (including to have made on its behalf), use, offer to sell or sell (including to have sold on its behalf), offer to lease or lease (including to have leased on its behalf),
import, or otherwise offer to dispose or dispose of Licensed Products in the Field of Use in the Territory. No provision of this Agreement is to be construed to grant the Licensee, by implication, estoppel or otherwise, any rights (other than the
rights expressly granted it in this Agreement) to the Licensed Technology, a Licensed Patent or Licensed Patent Application, or to any other University-owned technology, patent applications, or patents. 

3.1.2 The Licensee shall not sublicense its rights under this Agreement, unless otherwise provided in section 7 of the EPLA.
If so provided, the Licensee may sublicense it rights under this Agreement only as follows: the Licensee shall deliver to the University a true, correct, and complete copy of the sublicense agreement or other agreement under which the Licensee
purports or intends to grant such sublicense rights within ten (10) days after the execution of such agreement. The Licensee shall not enter into such agreement if the terms of the agreement are inconsistent in any respect with the terms of
this Agreement, including without limitation, sections 5.2-5.6, 6.5, 8.3, 9.5, 10.3, and 11.3. Any sublicense made in violation of this subsection is void and constitutes an event of default under subsection
8.1.1. 
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 3.2 The United States Government’s Rights. If the University indicated in section 8 of
the EPLA that the United States federal government funded the development, in whole or in part, of the Licensed Technology, then, (i) the federal government may have certain rights in and to the Licensed Technology as those rights are described
in Chapter 18, Title 35 of the United States Code and accompanying regulations, including Part 401, Chapter 37 of the Code of Federal Regulations, (ii) the parties’ rights and obligations with respect to the Licensed Technology, including
the grant of license set forth in subsection 3.1.1, are subject to the applicable terms of these laws and regulations. 
 3.3 The
University’s Rights. The University retains an irrevocable, world-wide, royalty-free, non-exclusive right to use the Licensed Technology for teaching, research and educational purposes. The University
shall have the specific right to use the Licensed Technology in commercial research projects sponsored by for-profit entities. The University shall have the right to sublicense its rights under this section to
one or more non-profit academic or research institutions. 
 4. Applications and Patents. 

4.1 Pre-EPLA Patent Filings. The Licensee acknowledges that it has reviewed each Licensed Patent and
each Licensed Patent Application and that it will not dispute the inventorship, validity, or enforceability of any of the claims made in a Licensed Patent or a Licensed Patent Application. The Licensee further represents that as of the Effective
Date, it has not and does not manufacture, have manufactured, offer to sell, sell, offer to lease, lease, or import (a) any product or good that infringes (including under the doctrine of equivalents) a claim in any Licensed Patent or Licensed
Patent Application, or (b) any product or good that is made using a process or machine that infringes (including under the doctrine of equivalents) a claim in a Licensed Patent or Licensed Patent Application. Based upon Licensee’s
representations, University has no reason to believe that Licensee’s above statement is incorrect. 
 4.2 Patent Application Filings
during the Term of this Agreement. 
 4.2.1 The University, in consultation with the Licensee, shall determine in which
countries patent application(s) will be filed and prosecuted with respect to the Licensed Technology. The University shall retain counsel of its choice to file and prosecute such patent applications. The University may inform the Licensee of the
status of the prosecution of the patent application, including delivering to the Licensee pertinent notices, written and oral communications with governmental officials, and documents, and shall consult with the Licensee on the prosecution of the
patent application. The Licensee shall cooperate with the University in the filing and prosecution of all patent applications with respect to the Licensed Technology. In furtherance of the foregoing, the Licensee shall notify the University, in
writing, of the individual whom the Licensee has designated to consult and cooperate as provided in this subsection and is identified in section 13 of the EPLA. The Contact Person shall respond to the University’s request for consultation and
cooperation on a pending 
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 matter within five business days or sooner as may be required under the circumstances. If
the Contact Person fails to respond in such time period, the University, exercising its own judgment and discretion, may respond to the matter as it deems appropriate. Except as provided in subsection 4.2.2, the Licensee shall reimburse the
University for all Patent-Related Expenses as provided in section 6.3 and in section 6 of the EPLA. 
 4.2.2 The grant of
license in section 3.1 and the definition of Territory in section 1.15 shall not extend to or include any country in which Licensee elects, in writing to the University, not to pay or reimburse the payment of the cost, in whole or in part, to seek
or maintain intellectual property protection. 
 4.2.3 No provision of this Agreement limits, conditions, or otherwise
affects the University’s right to prosecute a patent application with respect to the Licensed Technology in any country. The University retains the sole and exclusive right to file or otherwise prosecute a patent application with respect to the
Licensed Technology, In no event shall the Licensee file a patent application solely with respect to the Licensed Technology. The Licensee shall cooperate with the University in the filing and prosecution of all patent applications with respect to
the Licensed Technology. 
 4.3 Rights in the Licensed Patents and Licensed Patent Applications. No provision of this Agreement grants the
Licensee any rights, titles, or interests (except for the grant of license in subsection 3.1.1) in the Licensed Patents or Licensed Patent Applications, notwithstanding the Licensee’s payment of all or any portion of the patent prosecution,
maintenance, and related costs. 
 5. Commercialization. 

5.1 Commercialization and Performance Milestones. The Licensee shall use its [***] to commercialize the Licensed Technology and to manufacture
and offer to sell and sell Licensed Products as soon as practicable and to maximize sales thereof. The Licensee shall perform, or shall cause to happen or be performed, as the case may be, all the performance milestones described in section 9 of the
EPLA. 
 5.2 Covenants Regarding the Manufacture of Licensed Products. The Licensee hereby covenants and agrees that (i) the
manufacture, use, sale, or transfer of Licensed Products shall comply with all applicable federal and state laws, including all federal export laws and regulations; and (ii) it will make [***] such that the Licensed Product shall not be
defective in design or manufacture. The Licensee hereby further covenants and agrees that, pursuant to 35 United States Code Section 204, it shall, and it shall cause each sublicensee, to substantially manufacture in the United States of
America all products embodying or produced through the use of an invention that is subject to the rights of the federal government of the United States of America. 
  

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 5.3 Export and Regulatory Compliance. The Licensee understands that the Arms Export Control
Act (AECA), including its implementing International Traffic In Arms Regulations (ITAR,) and the Export Administration Act (EAA), including its Export Administration Regulations (EAR), are some (but not all) of the laws and regulations that comprise
the U.S. export laws and regulations. Licensee further understands that the U.S. export laws and regulations include (but are not limited to): (i) ITAR and EAR product/service/data-specific requirements; (ii) ITAR and EAR ultimate
destination-specific requirements; (iii) LIAR and EAR end user-specific requirements; (iv) Foreign Corrupt Practices Act; and (v) antiboycott laws and regulations. The Licensee shall comply with all then-current applicable export laws
and regulations of the U.S. Government (and other applicable U.S. laws and regulations) pertaining to the Licensed Products (including any associated products, items, articles, computer software, media, services, technical data, and other
information). The Licensee certifies that it shall not, directly or indirectly, export (including any deemed export), nor re-export (including any deemed reexport) the Licensed Products (including any
associated products, items, articles, computer software, media, services, technical data, and other information) in violation of U.S. export laws and regulations or other applicable U.S. laws and regulations. The Licensee shall include an
appropriate provision in its agreements with its authorized sublicensees to assure that these parties comply with all then-current applicable U.S. export laws and regulations and other applicable U.S. laws and regulations. 

5.4 Commercialization Reports. Throughout the Term and during the Post-termination Period, and within thirty (30) days of the date
specified in the schedule set forth in section 10 of the EPLA, the Licensee shall deliver to the University written reports of the Licensee’s and the sublicensees’ efforts and plans to commercialize the Licensed Technology and to
manufacture, offer to sell, or sell Licensed Products. 
 5.5 Use of the University’s Name and Trademarks or the Names of University
Faculty, Staff, or Students. No provision of this Agreement grants the Licensee or sublicensee any right or license to use the name, logo, or any marks owned by or associated with the University or the names, or identities of any member of the
faculty, staff, or student body of the University. The Licensee shall not use and shall not permit a sublicensee to use any such logos, marks, names, or identities without the University’s and, as the case may be, such member’s prior
written approval. 
 5.6 Governmental Markings. 

5.6.1 The Licensee shall mark all Licensed Products, where feasible, with patent notice appropriate under Title 35, United
States Code. 
 5.6.2 The Licensee is responsible for obtaining all necessary governmental approvals for the development,
production, distribution, sale, and use of any Licensed Product, at the Licensee’s expense, including, without limitation, any safety studies. The 

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 Licensee is responsible for including with the Licensed Product any warning labels,
packaging and instructions as to the use and the quality control for any Licensed Product. 
 5.6.3 The Licensee agrees to
register this Agreement with any foreign governmental agency that requires such registration, and the Licensee shall pay all costs and legal fees in connection with such registration. The Licensee shall comply with all foreign laws affecting this
Agreement or the sale of Licensed Products. 
 6. Payments, Reimbursements, Reports, and Records. 

6.1 Payments. The Licensee shall pay all amounts due under this Agreement by check (payable to the “Regents of the University of
Minnesota and sent to the address specified in section 12.13), wire transfer, or any other mutually agreed-upon method of payment. 
 6.2
Interest. All amounts due under this Agreement shall bear interest as provided in section 11 of the EPLA on the entire unpaid balance computed from the due date until the amount is paid. 

6.3 Reimbursement of Patent-Related Expenses. The Licensee shall pay invoices for Patent-Related Expenses under this Agreement within thirty
(30) days of its receipt of the University’s invoice. With respect to each invoice, the University shall use reasonable efforts to specify the date on which the Patent-Related Expense was incurred and the purpose of the expense (including,
as applicable, a summary of patent attorney services giving rise to the expense); provided, however, the University is not required to disclose to the Licensee any information that is protected by the University’s attorney-client privilege.
Patent-Related Expenses incurred as of the Effective Date are set forth in section 6 of the EPLA. The University reserves the right to require that Licensee provide and maintain a reasonable advance deposit with the University or some other form of
security to ensure payment of Patent- Related Expenses. 
 6.4 Royalty Payments/Sales Reports. Within sixty (60) days after the last
day of a calendar quarter during the Term and the Post-termination Period, the Licensee shall deliver to the University a written sales report in the form acceptable to the University, recounting the number and Net Sales Price amount (expressed in
U.S. dollars) of all sales, leases, or other dispositions of Licensed Products, whether made by the Licensee or a sublicensee, during such calendar quarter. The Licensee shall deliver such written report to the University even if the Licensee is not
required hereunder to pay to the University a payment for sales, leases, or other dispositions of Licensed Products during the calendar quarter. The Licensee shall deliver along with such sales reports its payment for royalties owed on all
Commercial Sales of Licensed Products by the Licensee and the sublicensees during such quarter. 
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 6.5 Records Retention and Audit Rights. 

6.5.1 Throughout the Term and the Post-termination Period and for [***] thereafter, the Licensee, at its expense, shall keep and maintain and
shall cause each sublicensee and each non-affiliated third party that manufactures, sells, leases, or otherwise disposes of Licensed Products on behalf of the Licensee to keep and maintain complete and
accurate records of all sales, leases, and other dispositions of Licensed Products during the Term and the Post-termination Period and all other records related to this Agreement. 

6.5.2 In connection with an audit, the Licensee, upon written request, shall deliver to the University and its representatives true, correct
and complete copies of all documents and materials (including electronic records) reasonably relevant to the Licensee’s and sublicensees’ performance of this Agreement, including, without limitation, all sublicenses granted. 

6.5.3 To determine the Licensee’s compliance with the terms of this Agreement, the University, at its expense (except as set forth in
this subsection), may inspect and audit the Licensee’s records referred to in subsection 6.5.1. at the Licensee’s address as set forth in this Agreement or such other location(s) as the parties mutually agree during the Licensee’s
normal business hours. The Licensee shall cooperate in the audit, including providing at no cost, commodious space in the Licensee’s place of business for the auditor. The Licensee shall reimburse the University for all its out-of-pocket expenses to inspect and audit such records if the University, in accordance with the results of such inspection and audit, determines that the Licensee has
underpaid amounts owed to the University by at least [***] or [***], whichever is smaller, in a reporting period. The Licensee shall cause each sublicensee and each non-affiliated third party that
manufactures, sells, leases, or otherwise disposes of licensed Products on behalf of the Licensee to grant a right to inspect and audit the sublicensee’s or third party’s records substantially similar to the rights granted the University
in this subsection, if so requested by University, but no more frequently than every second year. In connection with, and before the commencement of, an audit, if the Licensee requests in writing to the University, then prior to conducting such
audit, the Licensee, the University and the auditor must enter into an agreement prohibiting the auditor and the University from disclosing the Licensee’s nonpublic, proprietary information to any third party without the Licensee’s prior
written consent; provided, however, that consistent with generally accepted auditing standards and the auditor’s professional judgment, the auditor may disclose such information to the University and its agents, counsel, or consultants. The
Licensee acknowledges that such an agreement is adequate to protect its legitimate interests, and the parties agree that there shall be no additional nondisclosure agreement demanded as a condition to the commencement of an audit and the
University’s exercising its rights under this subsection. 
  
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 6.6 Currency and Checks. All computations and payments made under this Agreement shall be in
United States dollars. To determine the dollar value of transactions conducted in non-United States dollar currencies, the parties shall use the exchange rate for the currency into dollars as reported in the
Wall Street Journal as the New York foreign exchange mid-range rate on the last business day of the month in which the transaction occurred. 

7. Infringement. 
 7.1 If a party learns
of substantial, credible evidence that a third party is making, using, or selling a product in the Field of Use in the Territory that infringes a Licensed Patent, such party shall promptly notify the other party in writing of the possible
infringement and in such notice describe in detail the information suggesting infringement of the Licensed Patent. Prior to commencing any action to enforce a Licensed Patent, the parties shall enter into good faith negotiations on the desirability
of bringing suit, the parties to the action, the selection of counsel, and such other matters as the parties may agree to discuss. No provision of this Agreement limits, conditions, or otherwise affects a party’s statutory and common-law rights to commence an action to enforce a Licensed Patent. In any such action, the parties agree to cooperate fully with each other and will use reasonable efforts to permit access to relevant personnel,
records, papers, information, samples and specimens during regular business hours. Any amounts recovered (less amounts actually paid for reasonable attorney’s fees and legal expenses) by Licensee in any such action or settlement that constitute
compensation for lost profits or sales will be considered subject to the royalty rate in subsection 11.4.1 of the EPLA. All other amounts recovered (less amounts actually paid for reasonable attorney’s fees and legal expenses) by Licensee in
such action or settlement shall be considered subject to the rate for Sublicense Revenues in subsection 11.5 of the EPLA. 
 7.2 If any
suit, action or proceeding is brought or commenced against the Licensee alleging the infringement of a patent or other intellectual property right owned by a third party by reason of the manufacture, use or sale of Licensed Products, the Licensee
shall give the University prompt notice thereof. If the validity of a Licensed Patent is questioned in such suit, action or proceeding, the Licensee shall have no right to make any settlement or compromise which affects the scope, validity,
enforceability or otherwise the Licensed Patent without the University’s prior written approval. University shall provide reasonable assistance to Licensee in the defense of the Licensed Patent. 

8. Termination. 
 8.1 By the University.

 8.1.1 If the Licensee breaches or fails to perform one or more of its obligations under this Agreement, the University
may deliver a written notice of default to the Licensee. 
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 Without further action by a party, this Agreement shall terminate if (a) the University
has not been paid the full amount of the Administrative Handling Fee set forth in section 11 of the EPLA, and (b) the default has not been cured in full within [***] after the delivery to the Licensee of the notice of default if the default
relates to a payment or reimbursement obligation under this Agreement or [***] after the delivery to the Licensee of the notice of default if the default relates to any other matter. 

8.1.2 The University may terminate this Agreement by delivering to the Licensee a written notice of termination at least ten
(10) days before the date of termination if the Licensee (i) becomes insolvent; (ii) voluntarily files or has filed against it a petition under applicable bankruptcy or insolvency laws that the Licensee fails to have released within
thirty (30) days after 
 filing; (iii) proposes any dissolution, composition, or financial reorganization with creditors or if a
receiver, trustee, custodian, or similar agent is appointed; or (iv) makes a general assignment for the benefit of creditors. 

8.1.3 The University may terminate this Agreement immediately by delivering to the Licensee a written notice of termination if
the Licensee or its agents or representatives commences or maintains an action in any court of competent jurisdiction or a proceeding before any governmental agency asserting or alleging, in any respect, the invalidity or unenforceability of any of
the Licensed Technology. The Licensee shall notify the University, in writing, at least [***] prior to the commencement of any such action or the institution of any such proceeding. 

8.2 By the Licensee. If the University breaches or fails to perform one or more of its duties under this Agreement, the Licensee may deliver
to the University a written notice of default. The Licensee may terminate this Agreement by delivering to the University a written notice of termination if the default has not cured in full within ninety (90) days of the delivery to the
University of the notice of default. 
 8.3 Post-termination Period. The Licensee shall not use, or permit others to use, the Licensed
Technology or manufacture or have manufactured Licensed Products after this Agreement terminates. If the Licensee terminates this Agreement under section 8.2, the Licensee may continue to offer to sell and sell, offer to lease and lease, and
otherwise offer to dispose of or dispose of Licensed Products in the Territory that were manufactured before such termination. The Commercial Sales of Licensed Products during the Post-termination Period shall be governed by the terms of this
Agreement, including the obligation to pay royalties on such Commercial Sales as provided in this Agreement. If the University terminates this Agreement under section 8.1, after the date of termination, the Licensee shall not offer to sell or sell,
offer to lease or lease, or otherwise offer to dispose of or dispose of a Licensed Product in the Territory. 
  

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 9. Release, Indemnification, and insurance. 

9.1 The Licensee’s Release. For itself and its employees, the Licensee hereby releases the University and its regents, employees, and
agents forever from any and all suits, actions, claims, liabilities, demands, damages, losses, or expenses (including reasonable attorneys’ and investigative expenses) relating to or arising out of the manufacture, use, lease, sale, or other
disposition of a Licensed Product. 
 9.2 The Licensee’s Indemnification. Throughout the Term and thereafter, the Licensee shall
indemnify, defend, and hold the University and its regents, employees, and agents harmless from all suits, actions, claims, liabilities, demands, damages, losses, or expenses (including reasonable attorneys’ and investigative expenses),
relating to or arising out of [***] 
 9.3 The University’s Indemnification. Subject to the limitations on liability set forth in
section 11, throughout the Term and thereafter, the University shall indemnify, defend, and hold the Licensee and its directors, employees, and agents harmless from all suits, actions, claims, liabilities, demands, damages, losses, or expenses
(including reasonable attorneys’ and investigative expenses) relating to or arising out of [***]. 
 9.4 The Licensee’s Insurance.

 9.4.1 Throughout the Term, or during such other period as the parties agree in writing, the Licensee shall maintain, and
shall cause each sublicensee to maintain, in full force and effect comprehensive general liability (“CGL”) insurance, with single claim limits acceptable to the University. Such insurance policy shall include coverage for claims that may
be asserted by the University against the Licensee under section 9.2 and for claims by a third party against the Licensee or the University arising out of the purchase or use of a Licensed Product. Such insurance policy must (I) name the
University as an additional insured if the University so requests in writing and (ii) require the insurer to deliver written notice to the University at the address set forth in section 12.13, at least thirty (30) days before the
termination of the policy. Upon receipt of the University’s written request, the Licensee shall deliver to the University a copy of the certificate of insurance for such policy. 

9.4.2 The provisions of subsection 9.4.1 do not apply if the University agrees in writing to accept the Licensee’s or a
sublicensee’s, as the case may be, self-insurance plan as adequate insurance. 
 9.5 Sublicensees – Release. The Licensee shall
cause each sublicensee to grant the University a release from liabilities substantially similar to the release granted in favor of the University in section 9.1. 
  

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 10. Warranties. 

10.1 Authority. Each party represents and warrants to the other party that it has full corporate power and authority to execute, deliver, and
perform this Agreement, and that no other corporate proceedings by such party are necessary to authorize the party’s execution or delivery of this Agreement. 

10.2 Disclaimers. 

10.2.1 EXCEPT FOR THE EXPRESS WARRANTY SET FORTH ABOVE IN SECTION 10.1, THE UNIVERSITY DISCLAIMS AND EXCLUDES ALL
WARRANTIES, EXPRESS AND IMPLIED, CONCERNING THE LICENSED TECHNOLOGY, EACH LICENSED PATENT, EACH LICENSED PATENT APPLICATION, AND EACH LICENSED PRODUCT, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF
NON-INFRINGEMENT, OF MERCHANTABILITY AND OF FITNESS FOR A PARTICULAR PURPOSE. 

10.2.2 The University expressly disclaims any warranties concerning and makes no representations: 

 

	 	(i)	 that the Licensed Patent Applications will be allowed or granted or that a patent will issue from any Licensed
Patent Application; 

  

	 	(ii)	 concerning the validity, enforceability, interpretation of claims or scope of any Licensed Patent; or

  

	 	(iii)	 that the exercise of the rights or licenses granted to the Licensee under this Agreement will not infringe a
third party’s patent or violate its intellectual property rights. 

 10.3 Sublicensees – Warranties. The Licensee
shall cause each sublicensee to give the University warranties and disclaimers and exclusions of warranties substantially similar to the warranty and disclaimers and exclusions of warranties in favor of the University in section 10.1 and subsections
10.2.1 and 10.2.2. 
 11. Damages. 

11.1 Remedy Limitation. EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, THE UNIVERSITY SHALL NOT BE LIABLE FOR
(A) PERSONAL INJURY OR PROPERTY DAMAGES (EXCEPT TO THE EXTENT OF THE UNIVERSITY’S WILLFUL, WANTON, OR INTENTIONAL ACTS) OR (B) LOST PROFITS, LOST BUSINESS OPPORTUNITY, INVENTORY LOSS, WORK STOPPAGE, LOST
DATA OR ANY OTHER RELIANCE OR EXPECTANCY, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, OF ANY KIND. 
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 11.2 Damage Cap. THE UNIVERSITY’S TOTAL LIABILITY FOR THE BREACH OR NONPERFORMANCE
OF THIS AGREEMENT [***] IMMEDIATELY PRECEDING THE COMMENCEMENT OF ANY SUIT OR ACTION. THIS LIMITATION APPLIES TO CONTRACT, TORT, AND ANY OTHER CLAIM OF WHATEVER NATURE. 

11.3 Sublicensees – Damages. The Licensee shall cause each sublicensee to agree to limitations of remedies and damages substantially
similar to the limitations of remedies and damages set forth in sections 11.1 and 11.2. 
 12. General Terms 

12.1 Access to University Information. 

12.1.1 Data Practices Act. The parties acknowledge that the University is subject to the terms and provisions of the Minnesota
Government Data Practices Act, Minnesota Statutes §13.01 et seq. (the “Ace), and that the Act requires, with certain exceptions, the University to permit the public to inspect and copy any information that the University collects, creates,
receives, maintains, or disseminates. 
 12.1.2 Confidentiality. To the extent permitted by law, including as provided in the
Act, the University shall hold in confidence and disclose only to University employees, agents and contractors who need to know the reports described in sections 5.4 and 6.4 and the records inspected in accordance with section 6.5 of the Terms and
Conditions. No provision of this Agreement is to be construed to further prohibit, limit, or condition the University’s right to use and disclose any information in connection with enforcing this Agreement, in court or elsewhere. 

12.2 Amendment and Waiver. The Agreement may be amended from time to time only by a written instrument signed by the parties. No term or
provision of this Agreement may be waived and no breach excused unless such waiver or consent is in writing and signed by the party claimed to have waived or consented. No waiver of a breach is to be deemed a waiver of a different or subsequent
breach. 
 12.3 Applicable Law and Forum Selection. The internal laws of the state of Minnesota, without giving effect to its conflict of
laws principles, govern the validity, construction, and enforceability of this Agreement. A suit, claim, or other action to enforce the terms of this Agreement may be brought only in the state courts of Hennepin County, Minnesota. The Licensee
hereby submits to the jurisdiction of that court and waives any objections it may have to that court asserting jurisdiction over the Licensee or its assets and property. 
  

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 12.4 Assignment and Sublicense. Except as permitted under subsection 3.1.2 and section 12.5
of the Terms and Conditions, the Licensee shall not assign or sublicense its interest or delegate its duties under this Agreement. Any assignment, sublicense, or delegation attempted to be made in violation of this section is void. Absent the
consent of all the parties, an assignment or delegation will not release the assigning or delegating party from its obligations. The Agreement inures to the benefit of the Licensee and the University and their respective permitted sublicensees and
trustees. 
 12.5 Change of Control. Notwithstanding section 12.4, the Licensee, without the prior approval of the University, may assign
all, but no less than all, its rights and delegate all its duties under this Agreement to another if (i) the Licensee delivers to the University written notice of the proposed assignment (along with pertinent information about the terms of the
assignment and assignee) at least [***] before the effective date of the event described in part iii of this paragraph, (ii) pay to the University the Transfer Payment prior to the effective date of the event described in part iii of this
paragraph, and (iii) the assignment is made as a part of and in connection with (a) the sale by the Licensee of all or substantially all of its assets to a single purchaser, (b) the sale, transfer, or exchange by the shareholders,
partners, or equity owners of the Licensee of a majority interest in the Licensee to a single purchaser, or (c) the merger of the Licensee into another corporation or other business entity. Any assignment attempted to be made or made in
violation of this subsection is void. 
 12.6 Collection Costs and Attorneys’ Fees. If a party fails to perform an obligation or
otherwise breaches one or more of the terms of this Agreement, the other party may recover from the non-performing breaching party all its reasonable costs (including actual attorneys’ and investigative
fees) to enforce the terms of this Agreement. 
 12.7 Consent and Approvals. Except as otherwise expressly provided, in order to be
effective, all consents or approvals required under this Agreement must be in writing. 
 12.8 Construction. The headings preceding and
labeling the sections of this Agreement are for the purpose of identification only and are not to be employed or used for the purpose of construction or interpretation of any portion of the EPLA. As used herein and where necessary, the singular
includes the plural and vice versa, and masculine, feminine, and neuter expressions are interchangeable. 
 12.9 Enforceability. If a court
of competent jurisdiction adjudges a provision of this Agreement to be unenforceable, invalid, or void, such determination is not to be construed as impairing the enforceability of any of the remaining provisions hereof and such provisions will
remain in full force and effect. 
 12.10 Entire Agreement. The parties intend this Agreement (including all attachments, exhibits, and
amendments hereto) to be the final and binding expression of their contract and 
  

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 agreement and the complete and exclusive statement of the terms thereof. The Agreement cancels, supersedes,
and revokes all prior negotiations, representations and agreements among the parties, whether oral or written, relating to the subject matter of this Agreement. 

12.11 Language and Currency. Unless otherwise expressly provided in this Agreement and in order to be effective, all notices, reports, and
other documents and instruments that a party elects or is required to deliver to the other party must be in English, and all notices, reports, and other documents and instruments detailing revenues and earned under this Agreement or expenses
chargeable to a party must be United States dollar denominated. 
 12.12 No Third-Party Beneficiaries. No provision of this Agreement,
express or implied, is intended to confer upon any person other than the parties to this Agreement any rights, remedies, obligations, or liabilities hereunder. No sublicensee may enforce or seek damages under this Agreement. 

12.13 Notices. In order to be effective, all notices, requests, and other communications that a party is required or elects to deliver must be
in writing and must be delivered personally, or by facsimile or electronic mail (provided such delivery is confirmed), or by a recognized overnight courier service or by United States mail, first-class, certified or registered, postage prepaid,
return receipt requested, to the other party at its address set forth below or to such other address as such party may designate by notice given under this section: 
  

			
	If to the University:	  	University of Minnesota
		  	Office for Technology Commercialization
		  	Attn: Contracts Manager
		  	1000 Westgate Drive, Suite 160
		  	St. Paul, MN 55114
		  	 

            

		  	Web site: http://www.research.umn.eduitechcomm
		
	For notices sent under	  	University of Minnesota
	section 8, with a copy to:            	  	Office of the General Counsel
		  	Attn: Transactional Law Services
		  	360 McNamara Alumni Center
		  	200 Oak Street S.E.
		  	Minneapolis, MN 55455-2006
		  	 

            

		
	If to the Licensee:	  	As indicated in section 12 of the EPLA.

  
 FORM: OGC-401

 Form Date: 12.18.01 
 Revision Date: 5.03.10 

  
 A-15 

 12.14 Relationship of Parties. In entering into, and performing their duties under this
Agreement, the parties are acting as independent contractors and independent employers. No provision of this Agreement creates or is to be construed as creating a partnership, joint venture, or agency relationship between the parties. No party has
the authority to act for or bind the other party in any respect. 
 12.15 Security Interest. In no event may the Licensee grant, or permit
any person to assert or perfect, a security interest in the Licensee’s rights under this Agreement. 
 12.16 Survival. Immediately upon
the termination or expiration of this Agreement, except for certain rights granted for the Post-termination Period, all the Licensee’s rights under this Agreement terminate; provided, however, the Licensee’s obligations that have accrued
before the effective date of termination or expiration (e.g., the obligation to report and make payments on safes, leases, or dispositions of Licensed Products and to reimburse the University for costs) and the obligations specified in section 6.1
survive. The obligations and rights set forth in sections 6.4 and 8.3 and sections 9, 10, and 11 also survive the termination or expiration of this Agreement. 

FORM: OGC-401 
 Form
Date: 12.18.01 
 Revision Date: 5.03.10 

  
 A-16

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