Document:

EX-10.12

 Exhibit 10.12 

SALARIUS PHARMACEUTICALS, LLC 

RESTRICTED UNIT AWARD AGREEMENT 

THIS RESTRICTED UNIT AWARD AGREEMENT (this “Agreement”) is dated as of January 21, 2017 (the “Grant
Date”), by and between Salarius Pharmaceuticals, LLC, a Delaware limited liability company (the “Company”), and Sunil Sharma (the “Grantee”). 

WITNESSETH 
 WHEREAS, the
Grantee and the Company have executed that certain Manager Agreement entered into on January 21, 2017 (the “Manager Agreement”) and that certain consultant agreement entered into on December 21, 2016 (the
“Consultant Agreement”); and 
 WHEREAS, the Company has agreed to issue Restricted Units to the Grantee in
connection with his provision of services under the Manager Agreement; and 
 WHEREAS, for the foregoing reasons, the Company desires to
grant the Restricted Units (defined below) to the Grantee on the terms and subject to the conditions set forth herein, and the Grantee desires to acquire said Restricted Units on such terms. 

NOW, THEREFORE, in consideration of the promises set forth herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 1. Award of Units. The
Company hereby grants to the Grantee a total of 72 Profits Interest Common Units of the Company (the “Restricted Units”). The rights, privileges, limitations and obligations of the Restricted Units are set forth in the
Amended and Restated Limited Liability Company Agreement of the Company effective January 1, 2015, as it may be amended and/or restated from time to time (the “LLC Agreement”), and are subject to the further terms and
conditions set forth in this Agreement. In the event of any conflict between the LLC Agreement and this Agreement, the terms of the LLC Agreement shall control. By executing this Agreement in the space provided on the signature page below, the
Grantee acknowledges receipt of a fully executed copy of the LLC Agreement. The Restricted Units are subject to a substantial risk of forfeiture, vesting as provided herein, and as set forth in the LLC Agreement will participate to the extent
provided in the LLC Agreement in the future appreciation in the value of the Company above the fair market value of the Company as of the Grant Date, which is $11,000,000. The Restricted Units are intended to be Profits Interest Units as defined in
the LLC Agreement. 
 2. Closing. The issuance of the Restricted Units (the “Closing”) shall occur
simultaneously with the execution and delivery of this Agreement by Grantee and the Company. At the Closing, the Company shall issue or otherwise memorialize the issuance to Grantee of the Restricted Units. The date of the Closing is hereinafter
referred to as the “Grant Date” 
 3. Vesting. The Restricted Units shall not become Vested Units except as
and to the extent provided for in Section 3(a) below. Until such time as the Restricted Units become Vested Units, they shall be subject to forfeiture in accordance with the provisions of Section 3(b) below. 

 (a) Except as otherwise provided in subsection (b) of this Section 3, the
Restricted Units granted pursuant to this Agreement shall become “Vested Units” as follows: The vesting commencement date for the Restricted Units shall be January 1, 2017 (the “Vesting Commencement
Date”). On the first day of each month following the Vesting Commencement Date, two (2) Restricted Units shall vest, so that all of the Restricted Units shall have vested and been released from restrictions as of January 1,
2019, subject to Grantee continuing to have a Service Relationship (as defined below) with the Company through each such date; provided, however, that the monthly vesting set forth herein shall continue for up to an additional twelve
(12) months following Grantee’s termination of his Service Relationship if Grantee remains in compliance with the surviving provisions of the Consultant Agreement and/or any other contractual agreement governing the provision of
Grantee’s services to the Company in effect at such applicable time (together the “Contractual Agreements”), including without limitation, the requirements of Section 7. Restricted Activities, of the Consultant
Agreement. 
 (b) In the event that (A) Grantee is no longer in compliance with the surviving provisions of the Contractual Agreements
or (B) Grantee’s Service Relationship is terminated for any reason, then Grantee shall automatically, and without the requirement for any action on the part of the Company or the Grantee, forfeit all Restricted Units which are not at such
time Vested Units; and all such Restricted Units which are not Vested Units at the time of such forfeiture shall be deemed to have been tendered to the Company by Grantee for cancellation and cancelled by the Company, in each case without the
requirement for any action on the part of the Company or Grantee to effect such deemed tender and cancellation. The Company shall have no obligation to make any payment to Grantee as a result of any such forfeiture and cancellation of Restricted
Units; and the Company shall be entitled, without the requirement of any action on the part of Grantee, to record the cancellation of the forfeited Restricted Units on the records of the Company. 

(c) Upon the occurrence of a Change of Control (as defined below) or a Distribution (as defined below) while Grantee remains in Grantee’s
Service Relationship, then the Restricted Units shall vest as to 100% of the Restricted Units. 
 (d) For purposes of this Agreement, the
following terms shall have the meanings set forth below: 
 (i) “Change of Control” shall mean the
first to occur of: (X) any third party (or affiliated third parties), becomes a beneficial owner of securities of the Company representing more than 50% of the voting power of the then-outstanding securities of the Company; (Y) upon the
consummation of a merger or consolidation of the Company with another entity where the equity owners of the Company, immediately prior to the merger or consolidation, will beneficially own, immediately after the merger or consolidation, equity
ownership entitling such persons to less than 50% of all votes to which all equity owners of the surviving entity would be entitled in the election of directors or managers, or (Z) a sale or other disposition of all or substantially all of the
assets of the Company. For the avoidance of doubt. Change in Control excludes any transaction designed to be a-financing transaction for the Company or to raise money for the continuing operations of the
company, even if such financing transaction results in a Change of Control. 

  
 2 

 (ii) “Distribution” means distributions to the
Company’s Members which in the aggregate, exceed $8,000,000. 
 (iii) “Service Relationship”
shall mean Grantee’s contractual service as a member of the Company’s Board of Mangers (or the successor governing body thereto), whether as a voting or a non-voting board observer. Subject to the
foregoing, the Company’s Board of Managers, in its discretion, shall determine whether Grantee’s Service Relationship has terminated and the effective date of such termination. 

4. To the extent any portion of the Restricted Units granted under this Agreement have become Vested Units as provided above, such Vested Units
will thereafter be free of the forfeiture provisions of this Agreement; provided, that all Vested Units shall at all times remain subject to the terms, conditions, restrictions and limitations set forth from time to time in the LLC Agreement,
including without limitation any applicable rights of repurchase set forth in the LLC Agreement. 
 5. Restrictions on Transfer.
Except as otherwise provided for in the LLC Agreement, Grantee may not, directly or indirectly, by operation of law or otherwise, voluntarily or involuntarily, alienate, attach, sell, assign, pledge, hypothecate, encumber, mortgage, charge or
otherwise transfer any of the unvested Restricted Units granted hereunder or any interest therein, except with the prior written consent of the Company, which may be granted or withheld in the Company’s sole discretion. It is understood that
the Company shall not agree to any such transfers during the first two years from and after the Grant Date. 
 6. Restrictive Legend.
In addition to any other restrictions on terms of transfer set .forth herein or in the LLC Agreement. Grantee acknowledges that the Restricted Units granted hereunder have not been registered under the Securities Act of 1933, as amended (the
“Securities Act”), or applicable state securities laws, and may not be offered, sold, assigned, pledged or otherwise transferred in the absence of an effective registration statement under the Securities Act covering such
transfer or an opinion of counsel satisfactory to the Company that registration under the Securities Act is not required. In the event that certificates evidencing the Restricted Units are issued, such certificates shall bear a legend substantially
in the form set forth below: 
 “The transferability of this certificate and the Membership Units represented hereby are subject to the
restrictions, terms, and conditions (including restrictions on transfers) contained in (1) a certain Restricted Unit Award Agreement between the Company and the holder of record of this certificate, and (2) the LLC Agreement of the Company
from time to time in effect, copies of which are available at the offices of the Company for examination.” 
 7. Withholding Taxes
and Section 83(b) Election. The Company shall withhold from distributions to Grantee any federal, state or local taxes payable with respect to the grant under this Agreement of the Restricted Units; it is anticipated that this
amount will be $0.00. As a condition to the grant of the Restricted Units, Grantee hereby agrees to file a Section 83(b) election with the Internal Revenue Service no later than 30 days after the Grant Date. If such election is not filed, the
Company shall have the option to declare this Agreement, and the issuance of the Restricted Units hereunder, void. The form for making this election is attached hereto as Exhibit A. 

  
 3 

 8. Miscellaneous. 

(a) Upon registration of the Restricted Units in Grantee’s name, and the execution and” delivery by Grantee of this Agreement,
Grantee shall have, subject to the terms of this Agreement and the LLC Agreement, all of the rights and duties of, and status as, a holder of Profits Interest Common Units of the Company in respect of the Restricted Units. By executing this
Agreement, Grantee is agreeing to be bound by all of the terms and conditions of the LLC Agreement. 
 (b) The grant of Restricted Units does
not confer upon Grantee any right to continue any Service Relationship with the Company or any Subsidiary or Company Affiliate thereof, and the Grantee shall remain subject to disciplinary action, including, but not limited to, discharge, to the
same extent as if this instrument had never been executed. Nothing contained herein shall be construed as a contract of employment or other Service Relationship. 

(c) This Agreement shall be governed by the laws of the State of Delaware, without regard to the conflict of laws provisions thereof. Each of
the Company and Grantee agrees to submit to the jurisdiction of the state and Federal courts located in the State of Texas and agree that venue properly lies in the State of Texas. 

(d) This Agreement, together with the LLC Agreement, expresses the entire agreement and understanding of the Company and Grantee with respect
to the subject matter hereof and supersedes all prior oral or written agreements, commitments and understandings pertaining to the subject matter hereof. This Agreement may not be orally changed, modified or terminated, nor shall any oral waiver of
any of its terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company and Grantee. 

(f) If any provision(s) of this Agreement shall be determined to be illegal or unenforceable, such determination shall in no manner affect the
legality or enforceability of any other provision hereof, and any such illegal or unenforceable provision shall be construed as narrowly as possible in order to enforce to maximum extent permitted, the remainder of this Agreement. 

(g) All notices, requests, consents and other communications shall be in writing and. be deemed given when delivered personally, by telex or
facsimile transmission or when received if mailed by a nationally recognized overnight carrier or by first class registered or certified mail, postage prepaid. Notices to the Company shall be addressed to its principal offices. Notices to Grantee
shall be delivered to the address set forth underneath Grantee’s signature below, or to such other address or addresses as subsequently be furnished by such party in writing to the other. 

(h) This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their respective successors, assigns, legal
representatives, estates, executors, administrators and heirs. The Company has the right to assign this Agreement, and such assignee shall become entitled to all the rights of the Company hereunder to the extent of such assignment. 

(i) This Agreement is subject to all of the terms, conditions and limitations set forth in the LLC Agreement. 

[Signature Page Follows] 

  
 4 

 SIGNATURE PAGE 

IN WITNESS WHEREOF, the parties have caused this Restricted Unit Award Agreement to be effective as of the day and year first above written.

  

			
	SALARIUS PHARMACEUTICALS, LLC
		
	By:	 	 /s/David Arthur

	Name:	 	David Arthur
	Title:	 	Chief Executive Officer
	
	GRANTEE
		
	By:	 	 /s/ Sunil Sharma

	Name:	 	Sunil Sharma
	
	Address:
	
	[REDACTED]

  
 5 

 PROTECTIVE IRC SECTION 83(B) ELECTION 

The undersigned taxpayer hereby protectively elects pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to
include in the undersigned’s gross income for the 2017 taxable year the excess (if any) of the fair market value of the property described below, over the amount the undersigned paid for such property, and supplies herewith the following
information in compliance with the Treasury regulations promulgated under Section 83(b): 
  

					
	 1.
	  	 The undersigned’s name, address and taxpayer identification (social security)
number are:

			
		  	 Name:
	  	
                   
                         

			
		  	 Address:
	  	
                   
                         

			
		  	 Social Security Number:
	  	
                   
                         

 2. The property with respect to which the election is made consists
of                             of Salarius Pharmaceuticals, LLC, a Delaware limited liability company (the
“Company”). 
 3. The effective date on which the units were transferred to the undersigned
was                            , the date of the imposition on the units of restrictions constituting a
substantial risk of forfeiture was                            , and the taxable year to which this election
relates is the year ending                                . 

4. The Company has a right of first refusal with respect to any proposed transfer of the units. If the taxpayer‘s employment with the Company is
terminated, the taxpayer must sell any unvested units back to the Company at an aggregate purchase price of
$                            . 

5. The fair market value of the units at the time of transfer (determined without regard to any restrictions other than those which by their terms will never
lapse) is an aggregate price of $                            . 

6. The amount paid for the units by the undersigned is an aggregate price of
$                        . 
 7. A
copy of this election has been furnished to the Company. 
  

							
	Date:
                                         
       	  		  	By:EX-10.43

 Exhibit 10.43 

ROYALTY AGREEMENT 

THIS ROYALTY AGREEMENT (the “Agreement”) is entered
into as of January         , 2019 (the “Effective Date”), by and among FLEX INNOVATION GROUP
LLC, a Delaware limited liability company, having offices at 800 Boylston Street, 24th Floor, Boston, MA 02199 (the “Company”), Bruce Bean, an individual with an address of *****
(“Bean”), Donald MacKinnon, an individual with an address of ***** (“D. MacKinnon”), Roderick MacKinnon, an individual with an address of *****
(“R. MacKinnon,” and together with Bean and D. MacKinnon, the “Scientific Founders”) and Christoph Westphal, an individual with an
address of ***** (“Westphal,” and together with the Scientific Founders, the “Founders”). Each of Company, Bean, D. MacKinnon, R. MacKinnon and Westphal may be referred to in this Agreement as a
“Party” and collectively as the “Parties.” 
 WHEREAS, pursuant to that certain Founders
Agreement between Westphal on behalf of Flex Pharma, Inc. (“Flex Pharma”) and the Scientific Founders dated as of February 25, 2014 and in consideration for the mutual covenants set forth therein, and the
agreements executed pursuant thereto, including, without limitation, that certain Patent Assignment Agreement dated March 20, 2014, and that certain Technology Assignment Agreement dated March 20, 2014, Flex Pharma, Inc. agreed to pay the
Founders certain royalty payments in accordance with the terms and conditions of that certain Royalty Agreement dated as of March 20, 2014; and 

WHEREAS, the Company has been granted exclusive rights to certain intellectual property as set forth in the License Agreement (as defined
below) by Flex Pharma, and, in connection with such grant, the Company is willing to assume the obligation to make certain payments to the Founders as provided in this Agreement; 

NOW, THEREFORE, in consideration of the foregoing premises and the covenants and promises set forth below, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows: 
  

	1.	 DEFINITIONS 

1.1 “Affiliate” with respect to any entity, shall mean any
company or entity controlled by, controlling, or under common control with such referenced entity and shall include any company more than 50% of whose voting stock or participating profit interest is owned or controlled, directly or indirectly, by
such referenced entity, and any company which owns or controls, directly or indirectly, more than fifty percent (50%) of the voting stock of such entity. 

1.2 “Competitive Activity” has the meaning set forth
in Section 3.4(a).  
 1.3 “Gross Sales”
shall mean the gross amount invoiced by the Company or its Affiliates or Licensees for sales of a Product to Third Parties, including sales to distributors, reduced by any amounts actually paid for product returns, damaged products, refunds, invoice
discounts, freight charges, sales taxes and chargebacks (including but not limited to chargebacks related to shipping, theft, loss, or damaged products), in each case that are directly related to sales of the Product. 

 1.4 “License
Agreement” means that certain License Agreement dated as of the date hereof by and between Flex Pharma and the Company. 

1.5 “Licensee” shall mean any person or entity that
licenses or sublicenses assets or rights (including intellectual property) from the Company or an Affiliate of the Company to develop, manufacture, or sell Products. 

1.6 “Product” shall mean any and all products sold by
Company, its Affiliates or Licensees (whether or not covered by patents licensed under the License Agreement) that both: (i) is marketed for use in stopping, preventing, relieving or otherwise treating muscle cramping or muscle soreness, or
aiding muscle recovery after exercise, and (ii) contains a TRPV1, TRPA1 or ASIC ion channel activator. 
 1.7
“Term” has the meaning set forth in Section 4. 
 1.8
“Third Party” shall mean any person or entity other than the Company, the Company’s Affiliates or the Founders. 

 

	2.	 ROYALTY 

 

	 	2.1	 Royalty. 

(a) For the period commencing on of the Effective Date and expiring on the tenth (10th) anniversary of the Effective
Date, within forty-five (45) days after the end of each calendar quarter during which Products are sold commercially, the Company shall pay to each Founder a royalty at the rate set forth opposite the applicable Founder’s name below on
Gross Sales of Products during such calendar quarter: 
  

					
	 Founder
	  	Royalty Rate	 
	 Bean
	  	 	0.417	% 
	 D. MacKinnon
	  	 	0.417	% 
	 R. MacKinnon
	  	 	0.417	% 
	 Westphal
	  	 	0.75	% 

 (b) For the period commencing on the tenth (10th) anniversary of the Effective Date and
expiring on the twentieth (20th) anniversary of the Effective Date, within forty-five (45) days after the end of each calendar quarter during which Products are sold commercially, the Company shall pay to each Founder a royalty at the rate set
forth opposite the applicable Founder’s name below on Gross Sales of Products during such calendar quarter: 
  

					
	 Founder
	  	Royalty Rate	 
	 Bean
	  	 	0.25	% 
	 D. MacKinnon
	  	 	0.25	% 
	 R. MacKinnon
	  	 	0.25	% 
	 Westphal
	  	 	0.25	% 

  
 2. 

 2.2 Reports. Royalty payments and reports for the sale of Products
shall be calculated and reported for each calendar quarter. Each payment of royalties shall be accompanied by a report of sales of Products in sufficient detail to permit confirmation of the accuracy of the royalty payment made, including, without
limitation, the number of Products sold, the Gross Sales of Products, the royalties payable and the method used to calculate the royalty. 

2.3 Manner and Place of Payment. All payments hereunder shall be payable in U.S. dollars. All payments owed under this
Agreement shall be made by wire transfer to a bank and account designated in writing by the Party receiving such payment. 

2.4 Income Tax Withholding. Each Founder will pay any and all taxes levied on account of any payments made to him under
this Agreement. If any taxes are required to be withheld by the Company, the Company will (a) deduct such taxes from the payment made to such Founder, (b) timely pay the taxes to the proper taxing authority, and (c) send proof of
payment to such Founder and certify its receipt by the taxing authority within 30 days following such payment. 
 2.5
Audits. During the term of this Agreement and for a period of three years thereafter, the Company shall keep (and shall cause its Affiliates and Licensees to keep) complete and accurate records pertaining to the sale or other disposition of
Products in sufficient detail to permit the Founders to confirm the accuracy of all royalty payments due hereunder. The Founders holding a majority in interest of the royalties payable hereunder shall have the right to cause an independent,
certified public accountant reasonably acceptable to the Company to audit any such records in the Company’s or its Affiliate’s possession to confirm sales and royalties for a period covering not more than the preceding three years. Such
audits may be exercised during normal business hours upon reasonable prior written notice to the Company. Prompt adjustments shall be made by the Parties to reflect the results of such audit. The Founders requesting such audit shall bear the full
cost of such audit unless such audit discloses an underpayment by the Company of more than 10% of the amount of royalties due under this Agreement during the audited period, in which case, the Company shall bear the full cost of such audit and shall
promptly remit to the Founders the amount of any underpayment. The Founders may only exercise their audit rights under this Section 2.5 once in any twelve (12) month period. 

2.6 Licensees. Any license or sublicense granted by the Company will, to the extent related to Products, be consistent
with the terms and conditions of this Agreement, and Company shall include in any licenses or sublicenses sufficient provisions to enable it to comply with the royalty provisions contained in this Agreement, including without limitation, audit
provisions substantially similar to those set forth in Section 2.5. As requested by the Founders, the Company shall enforce the provisions of its licenses and sublicenses applicable to the payment of royalties hereunder, including conducting
audits of Licensee records pertaining to the sale of Products. Company shall remain primarily responsible for any failures by its Licensees to comply with the applicable terms of this Agreement, and of the terms of license and sublicense agreements
that enable compliance with the terms of this Agreement. The Company will furnish a copy of all such licenses and sublicenses executed by the Company to the Founders promptly following the execution thereof; provided, however, that such copies may
be redacted by the Company except as necessary to ensure compliance with the terms of this Agreement. 

  
 3. 

	3.	 REPRESENTATIONS AND WARRANTIES 

3.1 Mutual Representations and Warranties. Each Party represents and warrants to the others that: (a) it has full
power and authority to enter into this Agreement and to carry out the provisions hereof; (b) it is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder; and (c) this Agreement is legally binding
upon it, enforceable in accordance with its terms, and does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any material law or regulation of any court,
governmental body or administrative or other agency having jurisdiction over it. 
 3.2 Disclaimer of Warranties.
Except as expressly set forth in this Agreement, NO PARTY MAKES ANY REPRESENTATION OR WARRANTY TO THE OTHER PARTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF TITLE,
NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
 3.3
Limitation of Liability. EXCEPT FOR PAYMENTS UNDER ARTICLE 2, NO PARTY SHALL BE ENTITLED TO RECOVER FROM THE OTHER PARTIES ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES IN CONNECTION WITH THIS AGREEMENT. 

3.4 Non-Competition. 

(a) Subject to Section 3.4(b) and Section 3.4(c), each Founder agrees that he will not sell or participate in
the sale of products during the Term that are (i) marketed for use in stopping, preventing, relieving or otherwise treating muscle cramping or muscle soreness, or aiding muscle recovery after exercise, and (ii) contain a TRPV1, TRPA1 or
ASIC ion channel activator (the “Competitive Activity”). 
 (b) It shall not be a violation of
Section 3.4(a) for a Founder to, directly or indirectly: (i) invest or hold an investment in any business or entity that conducts a Competitive Activity, so long as the Founder’s investment is less than 25% of the outstanding
ownership interest in such business or entity, (ii) be employed by or provide consulting services to a business that conducts a Competitive Activity so long as such Founder is not actively involved in conducting the Competitive Activity;
(iii) own any securities through any employee benefit plan, or (iv) perform any Competitive Activity for the benefit or at the request of Company or any of its Affiliates. 

(c) The obligations set forth in Section 3.4(a) shall terminate if Company ceases to actively market products
containing a TRPV1, TRPA1 or ASIC ion channel activator for cramp prevention and relief. 

  
 4. 

	4.	 TERM 

The term of this Agreement shall commence as of the Effective Date and shall continue for twenty (20) years (the “Term”).

  

	5.	 CONFIDENTIALITY 

Each Founder will treat the royalty reports, the terms of this Agreement, and any other confidential or proprietary information of the Company
disclosed to the Founders hereunder, as confidential information of the Company, will only use such information for the purposes of this Agreement, will protect it from unauthorized use, access, or disclosure in the same manner as the Founder
protects its own confidential or proprietary information of a similar nature and with no less than reasonable care, will disclose it only to the employees or agents of the Founder who have a need to know such information, if any, for purposes of
this Agreement and who are under a duty of confidentiality no less restrictive than the Founder’s duties hereunder, and will return to the Company or destroy all such information after expiration or termination of this Agreement. Each Founder
will be allowed to disclose confidential information of the Company to the extent that such disclosure is (a) approved in writing by the Company or (b) required by law or by the order or a court of similar judicial or administrative body,
provided that each Founder notifies the Company of such required disclosure promptly and in writing and cooperates with the Company, at the Company’s request and expense, in any lawful action to contest or limit the scope of such required
disclosure. 
  

	6.	 MISCELLANEOUS 

6.1 Assignment. Each Founder may assign this Agreement and his rights and obligations hereunder to a Third Party upon
prior written notice to the Company. Except as expressly provided hereunder, neither this Agreement nor any rights or obligations hereunder may be assigned or otherwise transferred by the Company without the prior written consent of the Founders
(which consent shall not be unreasonably withheld, conditioned or delayed); provided, however, that, subject to the remaining provisions of this Section 6.1, the Company may assign this Agreement and its rights and obligations hereunder
without the Founders’ consent (a) in connection with the transfer or sale of all or substantially all of the Company’s business to which this Agreement relates to a Third Party, whether by merger, sale of stock, sale of assets or
otherwise (such Third Party, an “Acquirer”), or (b) to any Affiliate of the Company. The Company shall give the Founders prompt written notice of any such assignment. The rights and obligations of the Parties under this
Agreement shall be binding upon and inure to the benefit of the successors and permitted assigns of the Parties. As a condition to the effectiveness of any assignment hereunder, any Acquirer, successor or assignee of rights or obligations permitted
hereunder shall, prior to the effectiveness of such assignment, expressly assume in writing to the other Parties hereto the obligation to perform the assigning Party’s obligations hereunder. For the avoidance of doubt, the Company may not
assign, license or otherwise transfer the License Agreement or other material assets (including intellectual property) that may be used for the manufacture or sale of Products to any Third Party or Affiliate unless such Third Party or Affiliate
agrees to be bound by the terms of this Agreement as if it were the Company hereunder. Any assignment not in accordance with this Agreement shall be void. 

  
 5. 

 6.2 Governing Law. This Agreement shall be governed by, and construed
and enforced in accordance with, the laws of the Commonwealth of Massachusetts, without regard to its choice of law provisions. Any legal suit, action, or proceeding arising out of or related to this Agreement shall be instituted exclusively in the
federal courts of the United States located in the Commonwealth of Massachusetts or the courts of the Commonwealth of Massachusetts, and each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action, or
proceeding. 
 6.3 Waiver. Except as specifically provided for herein, the waiver from time to time by any Party of
any right or failure to exercise any remedy shall not operate or be construed as a continuing waiver of the same right or remedy or of any other of such Party’s rights or remedies provided under this Agreement. 

6.4 Severability. In case any provision of this Agreement shall be invalid, illegal or unenforceable, (a) the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby to the maximum extent possible and (b) in lieu of such invalid, illegal or unenforceable provision, there will be added
automatically as a part of this Agreement a legal, valid and enforceable provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible to effectuate the intents and purposes of such provision. 

6.5 Notices. All notices and other communications provided for hereunder shall be in writing and shall be mailed by
first-class, registered or certified mail, postage paid, or delivered personally, by overnight delivery service or by facsimile, with confirmation of receipt, addressed to the address set forth for such Party in the introduction hereto. Any Party
may by like notice specify or change an address to which notices and communications shall thereafter be sent. Notices sent by facsimile shall be effective upon confirmation of receipt, notices sent by mail or overnight delivery service shall be
effective upon receipt, and notices given personally shall be effective when delivered. 
 6.6 Entire Agreement;
Amendment. This Agreement sets forth all of the agreements and understandings between the Parties hereto with respect to the subject matter hereof, and supersedes and terminates all prior agreements and understandings between the Parties with
respect to the subject matter hereof. There are no agreements or understandings with respect to the subject matter hereof, either oral or written, between the Parties other than as set forth herein. Except as expressly set forth in this Agreement,
no subsequent amendment, modification or addition to this Agreement shall be binding upon the Parties hereto unless reduced to writing and signed by the Company and the Founders holding a majority in interest of the royalties payable hereunder.
Notwithstanding the foregoing, this Agreement may not be amended or modified and the observance of any term hereof may not be waived with respect to any Founder without the written consent of such Founder, unless such amendment, modification, or
waiver applies to all Founders in the same fashion. 

  
 6. 

 6.7 Headings. The captions contained in this Agreement are not a part
of this Agreement, but are merely guides or labels to assist in locating and reading the several Articles hereof. 
 6.8
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. An executed signature page of this Agreement delivered
by facsimile transmission, including signatures in a fixed electronic format such as a PDF, will be as effective as an original executed signature page. 

[Signature page follows] 

  
 7. 

 IN WITNESS
WHEREOF, the Parties have executed this Agreement as of the date first set forth above. 
  

			
	FLEX INNOVATION GROUP, LLC

			
		
	By:	 	 /s/ William McVicar

		
	Name:	 	 William McVicar

		
	Title:	 	 Chief Executive Officer

			
	
	THE FOUNDERS:
	
	 /s/ Bruce Bean

	Bruce Bean
	
	 /s/ Donald MacKinnon

	Donald MacKinnon
	
	 /s/ Roderick MacKinnon

	Roderick MacKinnon
	
	 /s/ Christoph Westphal

	Christoph Westphal

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}]]