Document:

Exhibit 10.9

   

  EMPLOYMENT AGREEMENT

   

  EMPLOYMENT AGREEMENT made this 15th
      day of February, 2010 by and between FEMASYS INC., a Delaware corporation having a principal place of business at 5000 Research Court, Suite 100, Suwanee, Georgia 30024 (hereinafter the “Company”), and Gary E. Thompson, residing at 2315 Cape Courage
      Way, Suwanee, GA 30024 (hereinafter “Executive”).

   

  Recital:

   

  The Company desires to employ Executive and Executive desires to be employed by the Company upon the terms and
      conditions herein set forth.

   

  NOW, THEREFORE, the parties agree as follows:

   

  1.           Definitions. The terms defined in this Section 1 shall
      have the respective meanings indicated:

   

  		(a)	“Affiliate” of a Person shall mean a Person that directly or indirectly through one or more
            intermediaries, controls, is controlled by, or is under common control with, the first Person.

   

  		(b)	“Cause” shall mean any of the following:

   

  		(i)	any intentional or reckless misrepresentation of a material fact to the Board of Directors of the
            Company (the “Board”); breach of a fiduciary duty to the Company; or misappropriation or fraud against the Company;

   

  		(ii)	intentional destruction or theft of the Company’s property or falsification of the Company’s
            documents;

   

  		(iii)	a material breach by Executive of any provision of this Agreement and the failure by Executive to
            cure such breach within thirty (30) days of the date on which the Company gives Executive notice thereof; or

   

  		(iv)	gross negligence in the performance of his duties.

   

  		(c)	“Commencement Date” shall mean February 15, 2010, the date that Executive’s employment hereunder
            commences.

   

  		(d)	“Common Stock” shall mean the Company’s Common Stock, par value $.001 per share.

   

  		(e)	“Control” shall mean the possession, directly or indirectly, of the power to direct or cause the
            direction of the management policies of a Person, whether through the ownership of voting securities, by contract, as trustee or executor, or otherwise.

   

  		(f)	“Date of Termination” shall mean in the case of Executive’s death, the date of death, in the case of
            Disability, thirty (30) days after Notice of Termination is given following the occurrence of a Disability (provided Executive shall not have returned to the full-time performance of his duties during such thirty (30) day period), and in all
            other cases, the date specified in the Notice of Termination. Date of Termination shall also mean the final date of employment if the Term is not extended pursuant to Section 3 below.

   

  
     

    
      
 

  

  
   

  		(g)	“Disability” shall occur if, as a result of Executive’s incapacity because of physical or mental
            illness, Executive shall have been absent from the full-time performance of his duties with the Company for one hundred eighty (180) days in any nine (9) month period.

   

  		(h)	“Good Reason” shall mean any of the following bases for termination of Executive’s employment by
            Executive:

   

  		(i)	the removal of Executive as Vice President, Finance of the Company without Cause;

   

  		(ii)	the assignment to Executive of any duties inconsistent in any material respect with Executive’s
            executive position, authority, duties or responsibilities as contemplated by Section 5(a) of this Agreement; or

   

  		(iii)	a material breach by the Company of any provision of this Agreement and the failure by the Company
            to cure such breach within thirty (30) days of the date on which Executive gives the Company notice thereof.

   

  		(i)	“Inventions” means all inventions, discoveries, concepts and ideas, and the expressions of all
            concepts and ideas, whether or not copyrightable, and whether or not patentable, including but not limited to processes, methods, formulas, software, systems, and techniques, as well as improvements and enhancements.

   

  		(j)	“Notice of Termination” means a written notice of the termination of Executive’s employment by
            either the Company or Executive, except for a termination based on Executive’s death. A notice given pursuant to Section 3 is a Notice of Termination.

   

  		(k)	“Person” shall mean any natural person, corporation, partnership, association, limited liability
            company, trust, governmental authority or other entity.

   

  (1) “Retirement” shall mean termination of Executive’s employment for any reason
      after Executive has reached age sixty five (65).

   

  2.           Employment. The Company hereby employs Executive and
      Executive hereby accepts employment with the Company for the Term defined in Section 3 below, in the position and with the duties and responsibilities set forth in Sections 4 and 5 below, and upon the other terms and conditions hereinafter stated.

   

  3.           Term. Executive’s employment is for the period
      commencing on the Commencement Date and terminating two (2) years from such date, or upon Executive’s earlier death, termination by reason of Disability or termination by either party pursuant to Section 10 (the “Initial Term”). The Initial Term
      shall be automatically extended for successive one (1) year periods (each a “Renewal Term,” with the Initial Term and any Renewal Terms collectively referred to herein as the “Term”), unless at least thirty (30) days prior to the end of the Initial
      Term or any Renewal Term, either party, by notice to the other party, elects not to have the Term automatically extended.

   

  
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  4.           Position. Executive shall serve as Vice President,
      Finance of the Company.

   

  5.           Duties and Responsibilities.

   

  		(a)	Executive shall devote his full business time and best efforts to, and shall perform faithfully and
            loyally, the duties of the office of Vice President, Finance, and shall exercise such powers and fulfill such responsibilities as may be assigned to him by the Company’s Board and the President and Chief Executive Officer.

   

  		(b)	During the Term, Executive will not engage in other employment or consulting work or any trade or
            business for his own account or on behalf of any other Person without prior written consent of the Company’s President and Chief Executive Officer. Notwithstanding the foregoing, Executive may (i) serve on corporate, civic, industry or
            charitable boards or committees, and (ii) manage his own and his immediate family’s personal investments, provided that the activities permitted by clauses (i) and (ii) above shall not, individually or in the aggregate, interfere in any
            material respect with the performance of Executive’s responsibilities hereunder.

   

  6.           Salary. For services rendered by Executive under this
      Agreement, the Company shall pay to Executive an aggregate annual base salary as of one hundred forty-five thousand dollars ($145,000), payable in equal installments, at least monthly, in accordance with the Company’s regular payroll procedures. The
      Compensation Committee of the Board shall in good faith consider increasing Executive’s salary at least annually.

   

  7.           Employee Benefits. Executive shall be eligible for
      disability, medical, dental and other benefits provided to executives of the Company at the Company’s expense once such benefits are offered by the Company to its executives. Executive shall be granted options under the Company’s 2004 Amended and
      Restated Stock Incentive Plan and pursuant to a Incentive Stock Option Agreement in the form attached hereto as Exhibit “A” (the “Option Agreement”) to purchase 30,000 shares of the Company’s Common Stock (the “Option Stock”). The Option Stock shall
      have a term of ten (10) years and an exercise price of $0.45 per share and shall vest ratably over four (4) years commencing February 15, 2010. Any terms contained in this Agreement regarding the exercisability or vesting of such option, including
      without limitation this Section 7, shall be reflected in the terms of the Option Agreement.

   

  8.           Vacation. Executive shall be entitled to three (3)
      weeks vacation (or a pro rata portion thereof) during each consecutive twelve (12) month period of employment beginning on the Commencement Date.

   

  9.           Business Expenses. Executive shall be reimbursed for
      all reasonable business expenses incurred by him in connection with his employment, while he is engaged in Company business, to be supported by such documentation as is required by the Company’s normal procedures.

   

  
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  10.         Termination. Either the Company or Executive may
      terminate the employment of Executive at any time prior to the expiration of the Term of this Agreement, upon a finding of Cause or Good Reason.

   

  11.         Payments During Disability and Upon Termination or
        Expiration. Executive or his estate shall be entitled to the following during a period of Disability, upon Executive’s death, upon termination of Executive’s employment by Executive or the Company, or if the Term of this Agreement is not
      extended by either party pursuant to Section 3 above, as the case may be:

   

  		(a)	During any period that Executive fails to perform his full-time duties with the Company as a result
            of incapacity due to physical or mental illness, until such time as Executive returns to the full-time performance of his duties or the Date of Termination if Executive’s employment is terminated after the occurrence of a Disability, Executive
            shall continue to receive his base salary at the rate in effect at the commencement of any such period, plus all other amounts or benefits to which Executive is entitled through such date under any plan, arrangement or practice in effect at the
            time of such termination, minus any disability benefits received by him under any insurance or disability plan of the Company or maintained at the expense of the Company, but only to the extent that such benefits are paid for periods for which
            Executive also receives the payments described in this Section 11(a).

   

  		(b)	If: (i) Executive’s employment is terminated by Executive without Good Reason prior to Retirement;
            (ii) Executive’s employment is terminated by the Company for Cause; then the Company shall pay Executive his full base salary through the Date of Termination at the rate in effect at the time Notice of Termination is given, plus all other
            amounts or benefits to which Executive is entitled through such date under any plan, arrangement or practice in effect at the time of such termination. The Company shall have no further obligations to Executive under this Agreement (other than
            under COBRA and for vested and accrued benefits under Company-sponsored employee benefit plans and accrued and unpaid vacation.

   

  		(c)	If Executive’s employment is (i) terminated by reason of Executive’s death, or (ii) wrongfully
            terminated by the Company absent Cause, or (iii) terminated by Executive for Good Reason, then Executive shall be entitled to the following:

   

  		(A)	the Company shall pay to Executive any unpaid base salary through the Date of Termination at the
            rate in effect at the time Notice of Termination is given, no later than the end of the pay cycle following the Date of Termination, plus a pro rata portion of his bonus, if any, based on the number of months during which Executive was employed
            during the fiscal year in which his employment was terminated;

   

  		(B)	Executive shall be entitled to receive a lump sum severance payment equal to fifty percent (50%) of
            the then-current base annual salary. The severance payment will be due within thirty (30) days of the last date of employment; and

   

  
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  		(C)	Executive shall be entitled to six (6 months) acceleration of unvested stock options to purchase
            capital stock or restricted stock of Company held by Executive.

   

  		(d)	If Executive’s employment shall be terminated by reason of Executive’s Retirement, then Executive
            shall be entitled to receive the compensation provided for in subsection 11(c)(A).

   

  		(e)	If Executive terminates his employment or if Company (or any successor) terminates Executive’s
            employment without Cause, Executive shall have ninety (90) days from the date of termination to exercise any vested options.

   

  12.         Indemnification. Executive shall be provided
      indemnification protection in his capacity as an officer for actions taken within the scope of his employment, including insurance coverage with customary limits, to the full extent permitted by the Company’s Certificate of Incorporation and By-laws.

   

  13.         Non-Solicitation/No-Hire. Executive agrees that, during
      the Term of his employment and for a period of one (1) year following the Date of Termination or expiration of the Term of his employment, as the case may be, he shall not conduct or participate (directly or indirectly, including through one or more
      Affiliates) in hiring, attempting to hire or assisting any other Person in hiring or attempting to hire, or inducing to leave the employ of the Company, any employee, officer or contractor of the Company, or any person who was an employee, officer or
      contractor of the Company within the six (6) month period prior to the Date of Termination or expiration of the Term of his employment.

   

  14.         Non-Competition; Confidentiality.

   

  		(a)	During the Term and for the Restricted Period (hereinafter defined) after his employment hereunder
            terminates or is terminated, Executive will not in any way, directly or indirectly, manage, operate, control, accept employment or a consulting position with or otherwise advise, participate in, assist or be connected with, or provide any
            services to any Competitive Enterprise (as hereinafter defined); provided, that this Section 14(a) shall not prevent Employee from (A) being an employee of any division of any Entity to the extent that such division does not directly engage in
            the Competitive Enterprise, or (B)owning or having any other interest in, or right with respect to the revenues, receipts, profits or losses of any Competitive Enterprise (other than through ownership of no more than five percent (5%) of the
            outstanding shares of a Person’s stock which is listed on a national securities exchange or in the NASDAQ system). For purposes of this Section 14:

   

  		(i)	“Restricted Period” means the greater of the period of two (2) years next following the termination
            of the Executive’s employment by the Company for Cause or by Executive without Good Reason, or the period of time during which the Executive is receiving payments from the Company pursuant to Section 11 hereof (as the case may be); and

   

  
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  		(ii)	“Competitive Enterprise” means any person, firm or corporation that directly or indirectly produces,
            markets, promotes, or sells contraception products or whose business, activities, products or services are then competitive with any of the business, activities, products or services conducted or offered by the Company.

   

  		(b)	For purposes of this Agreement, “Proprietary Information” shall mean any information relating to the
            business of the Company or its Affiliates that has not previously been publicly released by authorized representatives of the Company without a breach of this Agreement by Executive and shall include (but shall not be limited to) information
            encompassed in all marketing and business plans, customer lists, financial information, costs, pricing information, source code and related information and all methods, concepts, or ideas in or reasonably related to the business of the Company
            or its Affiliates which is treated by the Company as confidential information and any third party or client information received by the Company in confidence.

   

  The Executive agrees to regard and preserve as confidential all Proprietary
      Information that has been or may be developed or obtained by Executive in the course of his employment with the Company or its Affiliates, whether he has such information in his memory or in writing or other physical form. Executive shall not,
      without written authorization from the Company to do so, use for his benefit or purposes, nor disclose to others, either during the Term or thereafter, except as required by the conditions of his employment hereunder, any Proprietary Information.
      This prohibition shall not apply to Proprietary Information which has been voluntarily disclosed to the public by the Company, independently developed and disclosed by others, or otherwise enters the public domain through lawful means. Upon
      termination of his employment, Executive shall promptly deliver to the Company all documents, storage media, and other tangibles containing Proprietary Information.

   

  In the event that Executive is required by judicial process to make a disclosure of
      Proprietary Information, he shall provide the Company with immediate notice thereof, and will make no disclosure until the Company has had the opportunity to seek an appropriate protective order or some other waiver of compliance with the process,
      unless in the opinion of counsel to Executive the failure to make earlier disclosure would make Executive liable for contempt or cause him to suffer some other censure or penalty. In any circumstance where disclosure of Proprietary Information is
      required by valid legal process, Executive shall use his best efforts to obtain an order or other binding assurance that all disclosures will receive confidential treatment by the recipient(s).

   

  
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  		(c)	Except as set forth in the NOTICE below, all Inventions which Executive conceives, develops or first
            actually reduces to practice either alone or with others during the Term of this Agreement shall be the exclusive property of the Company. Executive will disclose all such Inventions to the Company promptly and in writing and will comply with
            applicable Company procedures, if any, or as otherwise requested of Executive by the Company. When requested, and at the Company’s expense, Executive will assist the Company in efforts to protect such Inventions, including without limitation by
            taking any of the following actions:

   

  		(i)	making application for a patent on any such Invention specified by the Company;

   

  		(ii)	executing documents of assignment to the Company of all his right, title and interest in and to any
            such Inventions, all patent applications relating thereto, and all patents granted thereon; and (iii)from time to time, at the request of the Company, executing all instruments and rendering all such assistance as may reasonably be required in
            order to protect the rights of the Company and to vest in the Company all rights to any such Invention, patent application, and patent.

   

  Each of Executive’s duties specified in this paragraph (c) shall survive termination
      of his employment to the extent such duties relate to Inventions made or conceived by him during his employment.

   

  		(d)	The Company will determine, in its sole and absolute discretion, whether an application for a patent
            will be filed on any Invention which is the exclusive property of the Company, as set forth above, and whether such an application will be abandoned prior to issuance of a patent.

   

  NOTICE: This Agreement does not apply to any Invention: (i) for which no equipment, supplies, facility or trade
      secret information of the Company was used, which was developed entirely on Executive’s own time, and (ii) which does not relate directly to the business of the Company or to Executive’s actual or demonstrably anticipated research or development.

   

  15.         Remedies. Executive recognizes the highly competitive
      nature of the industry in which the Company’s business is involved and acknowledges that his services to the Company will be special and unique; his work for the Company will allow him access to the Company’s highly proprietary and confidential
      information; the Company’s business is conducted throughout the world; the Company would not have entered into this Agreement but for the covenants and agreements contained in Sections 13 and 14 hereof; and the agreements and covenants in Sections 13
      and 14 are essential to protect the business and goodwill of the Company. Executive understands and agrees that the Company will be irreparably damaged in the event that Sections 13 and 14 of this Agreement are violated and that such restrictions are
      necessary to protect the business and interests of the Company. Accordingly, Executive agrees that a remedy at law for any breach of such covenants would be inadequate. Executive agrees that the Company shall be entitled (in addition to any other
      remedy to which it may be entitled, at law or in equity) to a temporary, preliminary and permanent injunction to redress actual or threatened breaches of said Sections 13 and 14 and specifically to enforce the terms and provisions thereof, without
      the necessity of proving actual damage, provided that nothing herein contained shall be construed as prohibiting the Company from pursuing any other or additional judicial remedies available to it for any actual or threatened breach, including
      monetary damages or other remedies.

   

  
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  16.         Successors and Assigns. This Agreement is a personal
      contract, and the rights and interests of Executive hereunder may not be sold, transferred, assigned, pledged, encumbered, or hypothecated by him. Payments due Executive hereunder shall be payable to his heirs or fiduciaries upon his death. Except as
      may be expressly provided otherwise herein, this Agreement shall be binding upon the Company and inure to the benefit of the Company and its Affiliates, and its successors and assigns, including (but not limited to) any corporation or other entity
      which may acquire all or substantially all of the Company’s assets or business or into or with which the Company or an Affiliate may be consolidated or merged.

   

  17.         Governing Law. Any controversy or claim arising out of
      or relating to this Agreement, or any breach thereof shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of laws thereof.

   

  18.         Arbitration. Any controversy or claim arising out of or
      relating to this Agreement shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgment upon the award rendered by the arbitration panel, which shall consist of three (3)
      members, may be entered in any court having jurisdiction. Any arbitration shall be held in Atlanta, Georgia. One (1) arbitrator shall be selected by Executive, one (1) arbitrator shall be selected by the Company, and the third arbitrator shall be
      selected by the two (2) arbitrators selected by Executive and the Company.

   

  19.         Entire Agreement. This Agreement contains all the
      understandings between the parties hereto pertaining to the matters referred to herein, and supersedes all undertakings and agreements, whether oral or in writing, previously entered into by them with respect thereto. The Company and the Executive
      are not relying on any such prior agreements or understandings in entering into this Agreement.

   

  20.         Amendment or Modification, Waiver. No provision of this
      Agreement may be amended or waived unless such amendment or waiver is agreed to in writing, signed by Executive and by authorized officers of the Company. No waiver by any party hereto of any breach by another party hereto of any condition or
      provision of this Agreement to be performed by such other party shall be deemed a waiver of a similar or dissimilar condition or provision at the same time, any prior time or any subsequent time.

   

  21.         Notices. Any notice to be given hereunder shall be in
      writing and delivered personally or by overnight courier or sent by registered or certified mail, postage prepaid, return receipt requested, addressed to the party concerned at the address indicated below or to such other address as such party may
      subsequently give notice of hereunder in writing:

   

  	
          To Executive:

           

          To the Company:

           

          With a copy to:

        	
          2315 Cape Courage Way, Suwanee, Georgia 30024

            

           5000 Research Court, Suite 100, Suwanee, Georgia 

          30024

            

           Guanming Fang, Esq., Womble Carlyle Sandridge 

          & Rice PLLC, One Atlantic Center, Suite 3500, 

          1201 West Peachtree Street, Atlanta, GA 30309

        

   

  
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  Any notice delivered personally shall be deemed given on the date delivered, any notice delivered by overnight
      courier shall be deemed given the day after deposit with a courier, and any notice sent by registered or certified mail, postage prepaid, return receipt requested, shall be deemed given on the date delivered as evidenced by the return receipt.

   

  22.         Severability. If any provision of this Agreement or the
      application of any such provision to any party or circumstances shall be determined by any court of competent jurisdiction to be invalid and unenforceable to any extent, the remainder of this Agreement or the application of such provision to such
      person or circumstances other than those to which it is so determined to be invalid and unenforceable shall not be affected thereby, and each provision hereof shall be validated and shall be enforced to the fullest extent permitted by law.

   

  23.         Survivorship. The respective rights and obligations of
      the parties hereunder shall survive any termination of this Agreement to the extent necessary to the intended preservation of such rights and obligations.

   

  24.         Headings. All descriptive headings of sections and
      paragraphs in this Agreement are intended solely for convenience, and no provision of this Agreement is to be construed by reference to the heading of any section or paragraph.

   

  25.         Acknowledgment. The restrictions contained in Sections
      13 and 14 of this Agreement are considered reasonable by the Company and Executive, and it is the desire of both parties that such restrictions and the other provisions of this Agreement be enforced to the fullest extent permissible under the laws
      and the public policies applied in each jurisdiction in which enforcement is sought. Accordingly, in the event that any such restriction or provision shall be found to be void or invalid but would be valid if some part thereof were deleted or the
      period or area of application reduced, such restriction or provisions shall apply with such modification as shall be necessary to make it valid and effective. A deletion resulting from any adjudication shall occur only with respect to the operation
      of the provision or a portion thereof affected in the particular jurisdiction in which such adjudication is made, and each court or other body having jurisdiction with respect to the enforcement of the provisions of Section 13 and 14 of this
      Agreement are hereby empowered to modify by reduction, rather than deletion, the time periods or other restrictions referred to therein. Executive has had an opportunity independently to consult with counsel and has had an opportunity to be advised
      in all respects concerning the reasonableness and propriety of such restrictions and the other provisions of this Agreement, and represents that the Agreement is intended to be fully enforceable and effective in accordance with its terms.

   

  26.         Counterparts. This Agreement may be executed in
      counterparts, each of which shall be deemed an original and both of which together shall be one (1) and the same agreement.

   

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

   

  	 	 /s/ Gary E. Thompson
	 	Gary E Thompson 
	 	 
	 	FEMASYS INC.
	 	 
	 	By:	/s/ Kathy Lee-Sepsick
	 	Kathy Lee-Sepsick, President and
	 	Chief Executive Officer

    

  

  

  - 10 -Exhibit 10.10

   

  EMPLOYMENT AGREEMENT

   

  This Employment Agreement (this “Agreement”) is entered into as of June 1, 2021 by and between Femasys Inc., a Delaware corporation (the “Company”),
    and Lexy Kelley, MD (also known as Violet Alexandria Kelley Hoskin) (the “Executive”). This Agreement shall become effective on the date on which the Company’s securities become publicly traded on a national securities exchange or quoted on an
    automated quotation system, which shall include the closing of a transaction pursuant to which the Company is acquired by, or merged with, another company and immediately following such transaction, the Company’s, such acquiror’s or any of their
    respective parent company’s securities are publicly traded on a national securities exchange or quoted on an automated quotation system. If such date does not occur on or prior to September 30, 2021, this Agreement shall be null and void ab initio. The
    date on which this Agreement becomes effective shall be referred to herein as the “Effective Date.”

   

  Recitals

   

  WHEREAS, the Company desires to employ the Executive as a full-time employee of the Company and the Executive desires to accept employment with the
    Company upon the terms and conditions hereinafter set forth.

   

  NOW THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, and intending
        to be legally bound hereby, it is hereby agreed as follows:

   

  Agreement

   

  1.        Definitions.

   

  1.1.     “Affiliate” means as to any Person, any other Person that directly or indirectly controls, is under common control with,
    or is controlled by, such first Person. As used in this definition, “control” (including, with its correlative meanings, “controlled by” and “under common control with”) shall mean possession, directly or indirectly, of power to direct or cause the
    direction of management or policies (whether through ownership of voting equity interests, by contract or otherwise). For the avoidance of doubt, each member of the Company Group (other than the Company) is an Affiliate of the Company.

   

  1.2.     “Board” means the Board of Directors of the Company.

   

  1.3.     “Cause” means the Executive’s (i) indictment for, conviction of, or entering of a plea of guilty or nolo contendere (or
    its equivalent under any applicable legal system) with respect to (A) a felony or (B) any crime involving moral turpitude; (ii) commission of fraud, misrepresentation, embezzlement or theft against any Person; (iii) engaging in any intentional activity
    in bad faith that injures or would reasonably be expected to injure (monetarily or otherwise), in any material respect, the reputation, the business or a business relationship of the Company or any of its Affiliates; (iv) gross negligence or willful
    misconduct in the performance of the Executive’s duties to the Company or its Affiliates under this Agreement, or willful refusal or failure to carry out the lawful instructions of the Company’s Chief Executive Officer (the “CEO”) that are consistent
    with the Executive’s title and position; (v) violation of any fiduciary duty owed to the Company or any of its Affiliates; or (vi) breach of any Restrictive Covenant (as defined below) or material breach or violation of any other provision of this
    Agreement, of a written policy or code of conduct of the Company or any of its Affiliates or any other agreement between the Executive and the Company or any of its Affiliates. Except when such acts constituting Cause which, by their nature, cannot
    reasonably be expected to be cured, the Executive shall have ten (10) days following the delivery of written notice by the Company of its intention to terminate the Executive’s employment for Cause within which to cure any acts constituting Cause. If,
    after any termination of the Executive’s employment, the Company becomes aware of facts that could have resulted in the Executive’s termination of employment being treated as a termination for Cause, then (x) such termination shall be re-characterized
    as a termination for Cause, (y) all severance payments and benefits, if any, immediately shall cease and (z) all severance previously paid or provided, if any, shall be immediately repayable to the Company.

   

  
     

    
      
 

  

  
   

  1.4.     “Change of Control” means (a) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange
    Act of 1934, as amended (the “Exchange Act”)), other than a trustee or other fiduciary holding securities of the Company under an employee benefit plan of the Company, becomes the “beneficial owner” (as defined in Rule 13d-3 promulgated under the
    Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of (A) the outstanding shares of common stock of the Company or (B) the combined voting power of the Company’s then-outstanding securities; (b) the Company is
    party to a merger or consolidation, or series of related transactions, which results in the voting securities of the Company outstanding immediately prior thereto failing to continue to represent (either by remaining outstanding or by being converted
    into voting securities of the surviving or another entity) at least fifty (50%) percent of the combined voting power of the voting securities of the Company or such surviving or other entity outstanding immediately after such merger or consolidation;
    or (c) the sale or disposition of all or substantially all of the Company’s assets (or consummation of any transaction, or series of related transactions, having similar effect).

   

  1.5.     “Code” means the Internal Revenue Code of 1986, as amended.

   

  1.6.     “Company Group” means the Company and the direct and indirect Subsidiaries of the Company.

   

  1.7.     “Company Invention”     means any Invention (including Confidential Information) that is Invented by the Executive (alone
    or jointly with others) (i) in the course of, in connection with, or as a result of the Executive’s employment or other service with any member of the Company Group (whether before, on, or after the Effective Date), (ii) at the direction or request of
    any member of the Company Group (whether before, on, or after the Effective Date), or (iii) through the use of, or that is related to, facilities, equipment, Confidential Information, other Company Inventions, Intellectual Property or other resources
    of any member of the Company Group, whether or not during the Executive’s work hours (whether before, on, or after the Effective Date).

   

  
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  1.8.     “Confidential Information” shall mean all information of a sensitive, confidential or proprietary nature respecting the
    business and activities of any member of the Company Group or any of their respective Affiliates, or the predecessors and successors of any member of the Company Group or any of their respective Affiliates, including, without limitation, the terms and
    provisions of this Agreement (except for the terms and provisions of Sections 4.4 through 4.16), and the clients, customers, suppliers, computer or other files, projects, products, computer disks or other media, computer hardware or
    computer software programs, marketing plans, financial information, methodologies, Inventions, know-how, research, developments, processes, practices, approaches, projections, forecasts, formats, systems, data gathering methods and/or strategies of any
    member of the Company Group or any of their respective Affiliates. “Confidential Information” also includes all information received by the Company or any other member of the Company Group under an obligation of confidentiality to a third party.
    Notwithstanding the foregoing, Confidential Information shall not include any information that is generally available, or is made generally available, to the public other than as a result of a direct or indirect unauthorized disclosure by the Executive
    or any other Person subject to a confidentiality obligation.

   

  1.9.     “Disability” has the meaning set forth in the long term disability policy maintained by the Company Group from time to
    time applicable to the Executive or, if no such policy is then in effect, “Disability” means that the Executive has been unable, as determined by the Board in good faith, to perform the Executive’s duties under this Agreement for a period of ninety
    (90) consecutive days or for a total of one hundred and twenty (120) days (whether or not consecutive) during any period of twelve (12) consecutive months, as a result of injury, illness or any other physical or mental impairment.

   

  1.10.   “Good Reason” means, without the prior express written consent of the Executive, (i) a material reduction in the
    Executive’s duties, responsibilities or authority; (ii) a material reduction of the Executive’s Base Salary (as defined below), other than a reduction that is applied consistently to all similarly situated executives; (iii) a material breach of this
    Agreement by the Company or (iv) a relocation of the Executive’s place of employment by more than sixty (60) miles from the Executive’s place of employment as of the date hereof, provided that such relocation materially increases the Executive’s
    commute. Notwithstanding the foregoing, Good Reason shall not be deemed to exist unless (x) the Executive gives the Company written notice within thirty (30) days after the occurrence of the event which the Executive believes constitutes the basis for
    Good Reason, specifying the particular act or failure to act which the Executive believes constitutes the basis for Good Reason, (y) the Company fails to cure such act or failure to act within thirty (30) days after receipt of such notice and (z) the
    Executive terminates the Executive’s employment within thirty (30) days after the end of the period specified in clause (y).

   

  1.11.   “Intellectual Property” means any and all intellectual and industrial property rights and other similar proprietary
    rights, in any jurisdiction throughout the world, whether registered or unregistered, including all rights pertaining to or deriving from patents, trademarks, copyrights, software, trade secrets know-how and confidential or proprietary information, and
    including all associated past, present and future enforcement rights and rights of priority therein or associated therewith.

   

  1.12.   “Invented” means made, conceived, created, discovered, invented, authored, first actually reduced to practice, or
    otherwise developed, whether solely or jointly with a third party.

   

  
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  1.13.   “Invention” means any invention, modification, design, documentation, procedure, development, formula, therapy, diagnostic
    technique, discovery, improvement, idea, technique, design, method, art, process, methodology, algorithm, machine, development, product, service, technology, strategy, software (including source code and object code), work of authorship or other Works
    (as defined in Section 4.12), trade secret, innovation, trademark, data, database, including all improvements, versions, modifications, enhancements and derivative works of the foregoing, in each case whether or not patentable, together with
    all Intellectual Property therein.

   

  1.14.   “Person” means an individual, partnership, limited liability company, corporation, association, joint stock company,
    trust, joint venture, unincorporated organization, investment fund, any other business entity and a governmental entity or any department, agency or political subdivision thereof.

   

  1.15.   “Subsidiary” means, with respect to any Person, any other Person in which such first Person has a direct or indirect
    equity ownership interest in excess of 50%.

   

  1.16.   “Term of Employment” means the period of the Executive’s employment under this Agreement.

   

  1.17.   “Termination Date” means the date the Executive’s employment with the Company terminates for any reason.

   

  2.        Employment.

   

  2.1.     Executive’s Representations. The Executive represents that (i) the Executive is entering into this Agreement
    voluntarily and that the Executive’s employment hereunder and compliance with the terms and conditions hereof will not conflict with or result in the breach by the Executive of any agreement to which the Executive is a party or by which the Executive
    may be bound and (ii) in connection with the Executive’s employment or other service with the Company or any other member of the Company Group, the Executive will not (A) violate any non-competition, non-solicitation or other similar covenant or
    agreement by which the Executive is or may be bound or (B) use any confidential or proprietary information that the Executive may have obtained in connection with the Executive’s employment or engagement with any other Person.

   

  2.2.     Position; Duties and Responsibilities. During the Term of Employment, the Executive shall be employed as the Company’s
    Vice President, Clinical & Medical Affairs, with such duties and responsibilities that are consistent with such position as may be assigned by the CEO from time to time. In addition, during the Term of Employment, and for so long as the Executive
    is employed as the Company’s Vice President, Clinical & Medical Affairs, the Executive shall serve in such other officer and/or director positions with any member of the Company Group (for no additional compensation) as may be determined by the
    Board from time to time.

   

  2.3.     Reporting; Outside Activities. During the Term of Employment, the Executive shall report to the CEO, and the
    Executive shall diligently and conscientiously devote the Executive’s full business time, attention, energy, skill and best efforts to the business and affairs of the Company Group. Notwithstanding the foregoing, the Executive may (i) continue to serve
    as a member of the board of any organization listed in Exhibit A hereto, (ii) serve on other boards as may be approved by the Board in its sole discretion, (iii) engage in educational, charitable and civic activities and (iv) manage the Executive’s
    personal and business investments and affairs, so long as such activities under clause (i) through (iv) (A) do not, individually or in the aggregate, interfere with the performance of the Executive’s duties under this Agreement and (B) are not contrary
    to the interests of the Company Group or competitive in any way with the Company Group. Subject to the foregoing, during the Term of Employment, the Executive shall not, directly or indirectly, render any services of a business, commercial, or
    professional nature to any other Person, whether for compensation or otherwise, without the prior written consent of the Board.

   

  
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  3.        Compensation and Other Benefits.

   

  3.1.     Base Salary. During the Term of Employment, the Executive shall receive an initial base
    salary per annum of $250,000 (pro-rated for partial years), payable in accordance with the Company’s normal payroll practices as in effect from time to time. During the Term of Employment, the Board (or a committee thereof) may review the Executive’s
    base salary and the Board (or a committee thereof) may, in its sole discretion, adjust such base salary by an amount it determines to be appropriate. The Executive’s base salary, as may be in effect from time to time, is referred to herein as “Base
      Salary.”

   

  3.2.     Annual Bonus. With respect to each calendar year during the Term of Employment, the Executive shall be eligible to be
    awarded an annual discretionary bonus based on such factors as the Board (or a committee thereof) may determine in its discretion (the “Annual Bonus”). Any Annual Bonus awarded with respect to a calendar year shall be paid in a lump sum not
    later than the 15th of March of the immediately following calendar year. Except as set forth in Section 4.2, the Executive must be employed by the Company on the
    bonus payment date in order to receive an earned Annual Bonus with respect to any calendar year.

   

  3.3.     Expense Reimbursement. During the Term of Employment, the Company shall reimburse the Executive’s reasonable and
    necessary business expenses incurred in connection with performing the Executive’s duties hereunder in accordance with its then-prevailing policies and procedures for expense reimbursement (which shall include appropriate itemization and substantiation
    of expenses incurred).

   

  3.4.     Benefit Plans; Vacation. During the Term of Employment, the Executive shall be eligible to
      participate in, and be covered on the same basis as other senior management of the Company under, all broad-based employee benefit plans and programs maintained from time to time for the benefit of the Company’s employees, subject to the Executive’s
      satisfaction of the eligibility requirements of such plans or programs and subject to applicable law and the terms and conditions of such plans or programs; provided, however, that the Company may amend, modify and/or terminate any such plans
    or programs at any time in its discretion.

   

  4.        Termination; Restrictive Covenants.
      Upon the Termination Date, the Executive shall be deemed to have immediately resigned from any and all officer, director and other positions the Executive then holds with the Company and its Affiliates
      (and this Agreement shall constitute notice of resignation by the Executive without any further action by the Executive), and the Executive agrees to execute and deliver such further instruments as are requested by the Company in furtherance of the
      foregoing. Except as expressly provided in Section 4.2, all rights the Executive may have to compensation and employee benefits from the Company or its Affiliates shall terminate immediately upon
      the Termination Date.

   

  
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  4.1.     General. The Company may terminate the Term of Employment and the Executive’s employment at any time, with or without
    Cause or due to Disability, upon written notice to the Executive. The Executive may terminate the Term of Employment and the Executive’s employment for Good Reason or for any other reason at any time upon not less than sixty (60) days’ advance written
    notice to the Company; provided, that following its receipt of the Executive’s notice of termination, the Company may elect to reduce the notice period and cause the Termination Date to occur earlier, and no such action by the Company shall entitle the
    Executive to notice pay, severance pay or benefits or pay in lieu of notice or lost wages or benefits. In addition, the Term of Employment and the Executive’s employment with the Company shall terminate immediately upon the Executive’s death.

    

  4.2.     Separation Payments.

   

  4.2.1.  General. Except as otherwise provided in this Section 4.2, in the event that the Executive’s employment
    with the Company terminates for any reason, the Executive (or the Executive’s estate or legal representative, as applicable) shall be entitled to receive only (i) the Base Salary earned but unpaid through the Termination Date, paid in accordance with
    the Company’s normal payroll policies (or at such earlier time as required by applicable law), (ii) any accrued but unused vacation in accordance with the Company’s policies and applicable law, (iii) any unreimbursed business expenses incurred prior to
    the Termination Date that are otherwise reimbursable, with such expenses to be reimbursed in accordance with the Company’s expense reimbursement policies (as may be in effect from time to time), and (iv) any vested benefits earned by the Executive
    under any employee benefit plan of the Company or its Affiliates under which the Executive was participating immediately prior to the Termination Date, with such benefits to be provided in accordance with the terms of the applicable employee benefit
    plan (the items described in the foregoing clauses (i) through (iv), collectively, the “Accrued Benefits”). All other rights the Executive may have to compensation and employee benefits from the Company and its Affiliates, other than as set
    forth in Section 4.2.2 or 4.2.3, shall immediately terminate upon the Termination Date.

   

  4.2.2.  Death and Disability. In the event that the Executive’s employment is terminated due to the Executive’s death or by
    the Company due to Disability, in either case, during the Term of Employment, then in addition to the Accrued Benefits, the Executive (or the Executive’s estate or legal representative, as applicable) shall be entitled to receive the Annual Bonus
    awarded for the calendar year immediately preceding the calendar year in which such termination occurred, to the extent that such Annual Bonus is unpaid as of the Termination Date, with such amount to be payable at the same time as if no such
    termination had occurred (the “Unpaid Prior Year Bonus”). All other rights the Executive may have to compensation and employee benefits from the Company and its Affiliates, other than as set forth in this Section 4.2.2, shall immediately
    terminate upon the Termination Date.

   

  
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  4.2.3.  Termination Without Cause or for Good Reason. If, during the Term of Employment, the Executive’s employment is
    terminated by the Company without Cause (and not due to death or Disability) or due to resignation by the Executive for Good Reason, then the Executive shall be entitled to receive the Accrued Benefits and, subject to Section 4.2.4: (i)
    continuation of the Base Salary as of the Termination Date for six (6) months following the Termination Date, with such Base Salary to be paid in substantially equal installments in accordance with the Company’s normal payroll policies, with the first
    such payment to be made on the first payroll date following the effective date of the release (as described in Section 4.2.4) and to include a catch-up covering any payroll dates between the Termination Date and the date of the first payment;
    and (ii) employer-subsidized COBRA health premiums at active employee rates (subject to the Executive’s timely selection of, and continued eligibility for, COBRA continuation coverage) for six (6) months following the Termination Date (subject to
    earlier cessation in the event that the Executive secures subsequent employment providing for health coverage). If, during the Term of Employment, the Executive’s employment is terminated by the Company without cause (and not due to death or
    disability), within the twelve-month period following a Change of Control, then the Executive shall be entitled to receive the Accrued Benefits and, subject to Section 4.2.4: (i) seventy-five percent (75%) of the Unpaid Prorated Prior Year
    Bonus, with such amount to be payable at the same time as if no such termination had occurred; (ii) continuation of the Base Salary as of the Termination Date for nine (9) months following the Termination Date, with such Base Salary to be paid in
    substantially equal installments in accordance with the Company’s normal payroll policies, with the first such payment to be made on the first payroll date following the effective date of the release (as described in Section 4.2.4) and to
    include a catch-up covering any payroll dates between the Termination Date and the date of the first payment; and (iii) employer-subsidized COBRA health premiums at active employee rates (subject to the Executive’s timely selection of, and continued
    eligibility for, COBRA continuation coverage) for nine (9) months following the Termination Date (subject to earlier cessation in the event that the Executive secures subsequent employment providing for health coverage). All other rights the Executive
    may have to compensation and employee benefits from the Company and its Affiliates, other than as set forth in this Section 4.2.3, shall immediately terminate upon the Termination Date.

   

  4.2.4.  Release Requirement. Payment of the benefits set forth in Sections 4.2.2 and 4.2.3 (in each case,
    other than the Accrued Benefits) is subject to the Executive’s (or, as applicable, the Executive’s estate’s or legal representative’s) execution of a general release of claims and covenant not to sue in favor of the Company and related persons and
    entities in form and substance satisfactory to the Company (the “Release”) during the time period specified therein (which shall be either 21 or 45 days after the Release is provided to the Executive) and the Executive’s non-revocation of the
    Release (with the Release to be provided to the Executive within 7 days after the Termination Date). If the Release is not effective and does not become irrevocable in the time period described in the immediately preceding sentence, then the Executive
    shall forfeit the payments and benefits set forth in Section 4.2.2 or Section 4.2.3, as applicable (in each case, other than the Accrued Benefits). Notwithstanding the foregoing, if payment of any amounts set forth in Section 4.2.2
    or Section 4.2.3 (other than the Accrued Benefits) are treated as “non-qualified deferred compensation” under Code Section 409A, then if such payments could commence in more than one taxable year depending on when the Release is executed
    (regardless of when the Release is actually executed), then such payments and benefits that otherwise would have been payable in the calendar year in which the Termination Date occurs shall be withheld and shall instead be payable on the first payroll
    date in the calendar year immediately following the calendar year in which the Termination Date occurs (with all remaining payments to be made as if no such delay had occurred).

   

  
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  4.3.     Violation of Restrictive Covenants. Without limiting the remedies provided to the Company and its Affiliates as
    set forth in this Article 4, upon the Executive’s breach of any of the Restrictive Covenants, then notwithstanding anything contained in this Agreement to the contrary, the Company will have no obligation to continue to pay or provide any of the
    compensation or benefits under Section 4.2 (other than the Accrued Benefits) and the Executive shall promptly repay to the Company after any such breach any amounts received under Section 4.2 (other than the Accrued Benefits) and shall
    continue to be bound by all such Restrictive Covenants.

   

  4.4.     Restrictive Covenants. As an inducement and as essential consideration for the Company to enter into this
    Agreement, and in exchange for other good and valuable consideration, the Executive hereby agrees to the restrictive covenants contained in Sections 4.5 through 4.16 (the “Restrictive Covenants”). The Company and the Executive agree that
    the Restrictive Covenants are essential and narrowly tailored to preserve the goodwill of the business of the Company and its Affiliates, to maintain the confidential and trade secret information of the Company and its Affiliates, and to protect other
    legitimate business interests of the Company and its Affiliates, and that the Company would not have entered into this Agreement without the Executive’s agreement to the Restrictive Covenants. For purposes of the Restrictive Covenants, each reference
    to “Company,” “Company Group” and “Affiliate,” shall also refer to the predecessors and successors of the Company, the members of the Company Group and any of their Affiliates (as the case may be).

   

  Non-Competition. During the period commencing on the Effective Date and ending twelve (12) months after the Termination Date,
    regardless of the reason for the Executive’s termination of employment (the “Non-Competition Period”), the Executive shall not, anywhere in (x) the United States or (y) any other country in which any member of the Company Group conducts or plans
    to conduct business, either directly or indirectly, as a proprietor, partner, stockholder, director, executive, employee, consultant, joint venturer, member, investor, lender or otherwise, engage or assist others to engage in, or own, manage, operate
    or control, or participate in the ownership, management, operation or control of, or become employed or engaged by, or provide services to (i) any women’s healthcare company providing minimally-invasive, non-surgical product technologies for
    contraception or infertility or (ii) any Person that is, or has taken demonstrable steps to become, engaged in any business or activity competitive with the business, activities, products or services conducted, authorized, offered, or provided by any
    member of the Company Group within two years prior to the Executive’s termination, or with respect to which any member of the Company Group (with the Executive’s knowledge or involvement) has
    spent significant time or resources analyzing for the purposes of expansion by any member of the Company Group during the twelve (12) month period immediately prior to the Termination Date (the “Competitive Business”). Notwithstanding the
    foregoing, nothing in this Section 4.5 shall prevent the Executive from owning, as a passive investor, up to two percent (2%) of the securities of any entity that are publicly traded on a national securities exchange.

   

  4.5.     Customer Non-Solicitation. During the period commencing on the Effective Date and ending twelve (12) months after
    the Termination Date, regardless of the reason for the Executive’s termination of employment (the “Non-Solicitation Period”), the Executive shall not (except on the Company’s behalf during the Executive’s employment with the Company), for
    purposes of providing products or services that are competitive with those provided by any member of the Company Group, directly or indirectly, on the Executive’s own behalf or on behalf of any other Person, contact, solicit, divert, induce, call on,
    or take away (or attempt to do any of the foregoing) any customer or client of any member of the Company Group (or any Person who, during the twelve (12) months prior to the Termination Date, was solicited to be a customer or client of any member of
    the Company Group) with whom the Executive had contact or about whom the Executive possessed confidential information within the twelve (12) months prior to the Termination Date.

   

  
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  4.6.     Employee and Independent Contractor Non-Solicitation. During the Non-Solicitation Period, the Executive shall not
    (except on the Company’s behalf during the Term of Employment), directly or indirectly, on the Executive’s own behalf or on behalf of any other Person, (i) solicit for employment or engagement or interfere with the employment or engagement of (or
    attempt to do any of the foregoing) any individual who (A) is employed by, or an independent contractor of, any member of the Company Group at the time of such solicitation, interference or attempt thereof or (B) was employed by, or an independent
    contractor of, any member of the Company Group within 12 months prior to such solicitation, interference or attempt thereof, or (ii) employ or engage (or attempt to employ or engage) any individual who (A) is employed by, or an independent contractor
    of, any member of the Company Group at the time of such employment, engagement or attempt thereof or (B) was employed by, or an independent contractor of, any member of the Company Group within twelve (12) months prior to such employment, engagement or
    attempt thereof.

   

  4.7.     Non-Disparagement. During the Term of Employment and at all times thereafter, the Executive shall not, directly
    or through any other Person make any public or private statements (whether orally, in writing, via electronic transmission, or otherwise) that disparage, denigrate or malign (i) the Company or any of the Company’s Affiliates; or (ii) any of the
    businesses, activities, operations, affairs, reputations or prospects of any of the Persons described in clause (i); or (iii) any of the officers, employees, directors, managers, partners (general and limited), agents, members or shareholders of any of
    the Persons described in clause (i) or clause (ii). For purposes of clarification, and not limitation, a statement shall be deemed to disparage, denigrate or malign a Person if such statement could be reasonably construed to adversely affect the
    opinion any other Person may have or form of such first Person. The foregoing limitations shall not be violated by truthful statements made by the Executive (x) to any governmental authority, (y) which are in response to legal process, or in connection
    with required governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation, depositions in connection with such proceedings) or (z) as may be necessary to defend or prosecute any claim.

   

  
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  4.8.     Confidentiality; Return of Property. During the Term of Employment and at all times thereafter, the Executive shall not,
    except as required to do so in good faith to perform the Executive’s duties or responsibilities on behalf of any member of the Company Group or with the prior express written consent of the Company, directly or indirectly, use on the Executive’s behalf
    or on behalf of any other Person, or divulge, disclose or make available or accessible to any Person, any Confidential Information. Notwithstanding the foregoing, the Executive may disclose Confidential Information when required to do so by a lawful
    order of a court of competent jurisdiction, any governmental authority or agency, or any recognized subpoena power, or in connection with reporting possible violations of federal law or regulation to any governmental agency or entity, or making other
    disclosures that are protected under the whistleblower provisions of applicable law or regulation. In the event that the Executive becomes legally compelled (by oral questions, interrogatories, request for information or documents, subpoena, criminal
    or civil investigative demand or similar process) to disclose any Confidential Information, then prior to such disclosure, the Executive will provide the Board with prompt written notice so that the Company may seek (with the Executive’s cooperation) a
    protective order or other appropriate remedy and/or waive compliance with the provisions of this Agreement. In the event that such protective order or other remedy is not obtained, the Executive will furnish only that portion of the Confidential
    Information which is legally required to be furnished, and will cooperate with the Company in the Company’s efforts to obtain reliable assurance that confidential treatment will be accorded to the Confidential Information. In addition, the Executive
    shall not create any derivative work or other product based on or resulting from any Confidential Information (except in the good faith performance of the Executive’s duties under this Agreement while employed by any member of the Company Group). The
    Executive shall also proffer to the Board’s designee, no later than the Termination Date (or upon the earlier request of the Company), and without retaining any copies, notes or excerpts thereof, all property of the Company and its Affiliates,
    including, without limitation, memoranda, computer disks or other media, computer programs, diaries, notes, records, data, customer or client lists, marketing plans and strategies, and any other documents consisting of or containing Confidential
    Information, that are in the Executive’s actual or constructive possession or which are subject to the Executive’s control at such time. To the extent the Executive has retained any such property or Confidential Information on any electronic or
    computer equipment belonging to the Executive or under the Executive’s control, the Executive agrees to so advise Company and to follow Company’s instructions in permanently deleting all such property or Confidential Information and all copies.
    Notwithstanding any other provision of this Agreement, in accordance with the federal Defend Trade Secrets Act of 2016, (I) the Executive shall not be held criminally or civilly liable under any federal or state trade
      secret law for the disclosure of a trade secret that: (A) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a
      suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal and (II) if the Executive files a lawsuit for retaliation by any member of the Company Group for
      reporting a suspected violation of law, the Executive may disclose a trade secret to his attorney and use the trade secret information in the court proceeding, if the Executive filed any document containing the trade secret under seal and does not
      disclose the trade secret except pursuant to court order.

   

  4.9.     Prior Inventions. The Executive has attached hereto, as Exhibit B, a list describing with particularity all
    Inventions that were Invented by the Executive prior to the commencement of the Term of Employment (collectively, “Prior Inventions”) which: (i) are owned in whole or part by the Executive or in which the Executive has an interest, (ii) relate
    in any way to any of the Company’s actual or proposed businesses, products or research and development, and (iii) are not assigned to the Company hereunder. If no such list is attached, the Executive represents that there are no such Prior Inventions.
    The Executive agrees not to incorporate into any Company product, process or machine any Prior Invention, or any Invention owned by a third party. If notwithstanding the foregoing during the Term of Employment, the Executive incorporates any Prior
    Invention into any Company product, process or machine, then the Executive hereby grants to the Company a non-exclusive, royalty-free, irrevocable, perpetual, worldwide license (with the right to sublicense) to make, have made, copy, modify, make
    derivative works of, use, sell, offer to sell, import, and otherwise distribute such Prior Invention as part of or in connection with such product, process or machine.

   

  
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  4.10.   Ownership of Inventions. The Executive acknowledges and agrees that all Company Inventions hereby are and shall be the
    sole and exclusive property of the Company. The Executive further acknowledges and agrees that any rights arising in the Executive in any Invention Invented by the Executive, whether alone or jointly with others, during the one year period following
    the Termination Date and relating in any way to work performed by the Executive for any member of the Company Group during the Executive’s employment with or service for any member of the Company Group (“Post-employment Inventions”), shall
    hereby be deemed to be Company Inventions and the sole and exclusive property of the Company; provided, however, that the Board in its sole discretion may elect to compensate the Executive for any Post-employment Inventions. For consideration
    acknowledged and received, the Executive hereby irrevocably assigns, conveys and sets over to the Company all of the Executive’s right, title and interest in and to all Company Inventions. The Executive acknowledges and agrees that the compensation
    received by the Executive for employment or services provided to the Company is adequate consideration for the foregoing assignment. The Executive further agrees to disclose in writing to the Board any Company Inventions (including, without limitation,
    all Post-employment Inventions), promptly following their conception or reduction to practice. Such disclosure shall be sufficiently complete in technical detail and appropriately illustrated by sketch or diagram to convey to one skilled in the art of
    which the Company Invention pertains, a clear understanding of the nature, purpose, operations, and other characteristics of the Company Invention. The Executive agrees to execute and deliver such deeds of assignment or other documents of conveyance
    and transfer as the Company may request to confirm in the Company or its designee the ownership of the Company Inventions, without compensation beyond that provided in this Agreement. The Executive further agrees, upon the request of the Company and at
    its expense, that the Executive will execute any other instrument and document necessary or desirable in applying for and obtaining patents in the United States and in any foreign country with respect to any Company Invention. The Executive further
    agrees, whether or not the Executive is then an employee or other service provider of any member of the Company Group, upon request of the Company, to provide reasonable assistance with respect to the perfection, recordation or other documentation of
    the assignment of Company Inventions hereunder, and the enforcement of the Company’s rights in any Company Inventions, and to cooperate to the extent and in the manner reasonably requested by the Company in any litigation or other claim or proceeding
    (including, without limitation, the prosecution or defense of any claim involving a patent) involving any Company Inventions covered by this Agreement, without further compensation but all reasonable out-of-pocket expenses incurred by the Executive in
    satisfying the requirements of this Section 4.11 shall be paid by the Company or its designee. Without limiting the foregoing, the Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as
    the Executive’s agent and attorney-in-fact, to act for and on the Executive’s behalf to execute and file any application or applications or other documents for patents, copyrights or trademark registrations or any other legal protection thereon, and to
    do all other lawfully permitted acts to further the prosecution and issuance of such patent, copyright or trademark registrations or any other legal protection thereon with the same legal force and effect as if executed by the Executive. The Executive
    shall not, on or after the date of this Agreement, directly or indirectly challenge the validity or enforceability of the Company’s ownership of, or rights with respect to, any Company Invention, including, without limitation, any patent issued on, or
    patent application filed in respect of, any Company Invention. For the avoidance of doubt, the term “Company Invention” is deemed not to include any Invention to the extent it is non-assignable under the provisions of applicable law, including in the
    case of employees in California, California Labor Code Section 2870.

   

  
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  4.11.   Works for Hire. The Executive also acknowledges and agrees that all works of authorship, in any format or medium, and
    whether published or unpublished, created wholly or in part by the Executive, whether alone or jointly with others, (i) in the course of, in connection with, or as a result of the Executive’s employment or other service with any member of the Company
    Group (whether before or after the Effective Date), (ii) at the direction or request of any member of the Company Group (whether before or after the Effective Date), or (iii) through the use of, or that is related to, facilities, equipment,
    Confidential Information, other Company Inventions, Intellectual Property or other resources of any member of the Company Group, whether or not during the Executive’s work hours (whether before or after the Effective Date) (“Works”), are works
    made for hire as defined under United States copyright law, and that the Works (and all copyrights arising in the Works) are owned exclusively by the Company and all rights therein will automatically vest in the Company without the need for any further
    action by any party. To the extent any such Works are not deemed to be works made for hire, for consideration acknowledged and received, the Executive hereby waives any “moral rights” in such Works and the Executive hereby irrevocably assigns,
    transfers, conveys and sets over to the Company, without compensation beyond that provided in this Agreement, all right, title and interest in and to such Works, including without limitation all rights of copyright arising therein or thereto, and
    further agrees to execute such assignments or other deeds of conveyance and transfer as the Company may request to vest in the Company or its designee all right, title and interest in and to such Works, including all rights of copyright arising in or
    related to the Works.

   

  4.12.   Cooperation. During and after the Term of Employment, the Executive agrees to cooperate with the Company Group (and its
    counsel) in any internal investigation, any administrative, regulatory, or judicial proceeding or any dispute with a third party concerning issues about which the Executive has knowledge or that may relate to the Executive or the Executive’s employment
    or service with any member of the Company Group (or the termination thereof). The Executive’s obligation to cooperate hereunder includes, without limitation, being available to the Company Group upon reasonable notice for interviews and factual
    investigations, appearing in any forum at the Company Group’s request to give testimony (without requiring service of a subpoena or other legal process), volunteering to the Company Group pertinent information, and turning over to the Company Group all
    relevant documents which are or may come into the Executive’s possession. The Company shall promptly reimburse the Executive for the reasonable pre-approved out-of-pocket expenses incurred by the Executive at the Company Group’s request in connection
    with such cooperation. For the avoidance of doubt, the immediately preceding sentence shall not require the Company to reimburse the Executive for any attorneys’ fees or related costs the Executive may incur absent prior written approval by the
    Company.

   

  
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  4.13.   Remedies; Injunctive Relief. The Executive acknowledges and agrees that the Company and its Affiliates will have no
    adequate remedy at law and will be irreparably harmed if the Executive breaches or threatens to breach any of the Restrictive Covenants. The Executive agrees that the Company, its Affiliates and the other members of the Company Group shall be entitled
    to equitable and/or injunctive relief to prevent any breach or threatened breach of any of the Restrictive Covenants, and to specific performance of each of the terms thereof, in each case, in addition to any other legal or equitable remedies that the
    Company and its Affiliates may have, as well as the costs and reasonable attorneys’ fees it/they incur in enforcing any of the Restrictive Covenants. The Executive further agrees that (i) any breach or claimed breach of the provisions set forth in this
    Agreement by, or any other claim the Executive may have against, the Company or any of its Affiliates will not be a defense to enforcement of any Restrictive Covenant and (ii) the circumstances of the Executive’s termination of employment with the
    Company will have no impact on the Executive’s obligations to comply with any Restrictive Covenant. The Restrictive Covenants are intended for the benefit of the Company and each of its Affiliates and other members of the Company Group. Each Affiliate
    of the Company and each member of the Company Group is an intended third party beneficiary of the Restrictive Covenants, and each Affiliate of the Company and member of the Company Group, as well as any successor or assign of the Company or such
    Affiliate or member of the Company Group, may enforce the Restrictive Covenants. The Executive further agrees that the Restrictive Covenants are in addition to, and not in lieu of, any non-competition, non-solicitation, protection of confidential
    information or intellectual property, or other similar covenants in favor of the Company or any of its Affiliates or member of the Company Group by which the Executive may be bound, and any such non-competition, non-solicitation, protection of
    confidential information or intellectual property, or other similar covenants shall not supersede, or be superseded by, the Restrictive Covenants.

   

  4.14.   Tolling During Periods of Breach. The parties hereto agree and intend that the Restrictive Covenants (to the extent
    not perpetual) be tolled during any period that the Executive is in breach of any such Restrictive Covenant, so that the Company and its Affiliates are provided with the full benefit of the restrictive periods set forth herein.

   

  4.15.   Notification of New Employer. In the event that the Executive is employed or otherwise engaged by any other
    Person following the Termination Date, the Executive agrees to notify, and consents to the notification by Company and its Affiliates of, such Person of the Restrictive Covenants through the applicable time period of such Restrictive Covenant, as set
    forth herein in Article 4.

   

  5.        Miscellaneous.

   

  5.1.     Applicable Law; Venue; WAIVER OF JURY TRIAL. This Agreement shall be governed by and construed in accordance with the
    laws of the State of Georgia, applied without reference to principles of conflicts of law. Both the Executive and the Company agree to appear before and submit exclusively to the jurisdiction of the United States District Court for the Northern
    District of Georgia with respect to any controversy, dispute, or claim arising out of or relating to this Agreement, the Executive’s employment or service with any member of the Company Group or the termination thereof (or if such controversy, dispute
    or claim may not be brought in federal court, to the state courts located in Forsyth County, Georgia). Both the Executive and the Company also agree to waive, to the fullest possible extent, the defense of an inconvenient forum or lack of jurisdiction.
    THE COMPANY AND THE EXECUTIVE HEREBY WAIVE, TO THE EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY LITIGATION IN ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF THE EXECUTIVE’S EMPLOYMENT BY, OR SERVICE WITH, ANY MEMBER OF
      THE COMPANY GROUP OR THE TERMINATION THEREOF, OR THIS AGREEMENT OR THE VALIDITY, PROTECTION, INTERPRETATION, COLLECTION OR ENFORCEMENT THEREOF (WHETHER ARISING IN CONTRACT, EQUITY, TORT OR OTHERWISE).

   

  
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  5.2.     Amendments. This Agreement may not be amended otherwise than by a written agreement executed by the parties hereto or
    their respective successors and legal representatives that specifies the provision being amended.

   

  5.3.     Waivers. The waiver by either party of any right hereunder or of any breach by the other party will not be deemed
    a waiver of any other right hereunder or of any other breach by the other party. No waiver will be deemed to have occurred unless set forth in a writing. No waiver will constitute a continuing waiver unless specifically stated, and any waiver will
    operate only as to the specific term or condition waived.

   

  5.4.     Notices. All notices and other communications hereunder shall be in email or in writing, and if in writing, shall
    be given by hand-delivery to the other party by reputable overnight courier, or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

   

  	
           

        	
          To the Company:

        	
           

        	
          Femasys Inc.

        
	
           

        	
           

        	
           

        	
          3950 Johns Creek Court

        
	
           

        	
           

        	
           

        	
          Suite 100

        
	
           

        	
           

        	
           

        	
          Suwanee, GA 30024

        
	
           

        	
           

        	
           

        	
          Email: kleesepsick@femasys.com

        
	
           

        	
           

        	
           

        	
          Attention: Kathy Lee-Sepsick, President & CEO

        
	
           

        	
           

        	
           

        	
           

        
	
           

        	
          and

        	
           

        	
           

        
	 	 	 	 
	
           

        	
           

        	
           

        	
          Dechert LLP

        
	
           

        	
           

        	
           

        	
          3 Bryant Park

        
	
           

        	
           

        	
           

        	
          1095 Avenue of the Americas

        
	
           

        	
           

        	
           

        	
          New York, NY 10036

        
	
           

        	
           

        	
           

        	
          Email: david.rosenthal@dechert.com

        
	
           

        	
           

        	
           

        	
          Attention: David S. Rosenthal

        
	
           

        	
           

        	
           

        	
           

        
	
           

        	
          To the Executive:

        	
           

        	
          at the residence address most recently filed with the Company;

        

   

  or to such other address as any party shall have furnished to the other in writing in accordance herewith. All such notices shall be deemed to
    have been duly given: (i) when delivered personally to the recipient or when sent if by email (unless the message is returned as undelivered), (ii) one (1) business day after being sent to the recipient by reputable overnight courier service (charges
    prepaid); or (iii) four (4) business days after being mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid.

   

  
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  5.5.     Withholding. The Company may withhold from any amounts payable under this Agreement such federal, state, local and
    other taxes as are required to be withheld pursuant to any applicable law or regulation.

   

  5.6.     Code Section 409A Compliance. This Agreement is intended to comply with, or be exempt from, Code Section 409A (to
    the extent applicable) and the parties hereto agree to interpret this Agreement in the least restrictive manner necessary to comply therewith or be exempt therefrom and without resulting in any increase in the amounts owed hereunder by the Company. To
    the maximum extent possible, any severance owed under this Agreement shall be construed to fit within the “short-term deferral rule” under Code Section 409A and/or the “two times two year” involuntary separation pay exception under Code Section 409A.
    Notwithstanding any other provision of this Agreement to the contrary, if the Executive is a “specified employee” within the meaning of Code Section 409A and the regulations issued thereunder, and a payment or benefit provided for in this Agreement
    would be subject to additional tax under Code Section 409A if such payment or benefit is paid within six (6) months after the Executive’s “separation from service” (within the meaning of Code Section 409A), then such payment or benefit required under
    this Agreement (i) shall not be paid (or commence) during the six-month period immediately following the Executive’s separation from service (except as provided in clause (ii)(B) of this Section 5.6) and (ii) shall instead be paid to the Executive in a
    lump-sum cash payment on the earlier of (A) the first regular payroll date of the seventh month following the Executive’s separation from service or (B) the 10th business
    day following the Executive’s death (but not earlier than such payment would have been made absent such death). If the Executive’s termination of employment hereunder does not constitute a “separation from service” within the meaning of Code Section
    409A, then any amounts payable hereunder on account of a termination of the Executive’s employment and which are subject to Code Section 409A shall not be paid until the Executive has experienced a “separation from service” within the meaning of Code
    Section 409A. In addition, no reimbursement or in-kind benefit shall be subject to liquidation or exchange for another benefit and the amount available for reimbursement, or in-kind benefits provided, during any calendar year shall not affect the
    amount available for reimbursement, or in-kind benefits to be provided, in a subsequent calendar year. Any reimbursement to which the Executive is entitled hereunder shall be made no later than the last day of the calendar year immediately following
    the calendar year in which such expenses were incurred. Notwithstanding anything herein to the contrary, neither the Company nor any of its Affiliates shall have any liability to the Executive or to any other Person if the payments and benefits
    provided in this Agreement that are intended to be exempt from or compliant with Code Section 409A are not so exempt or compliant. Each payment payable hereunder shall be treated as a single payment in a series of payments within the meaning of, and
    for purposes of, Code Section 409A.

   

  5.7.     Indemnification. The Executive will be entitled to any indemnification rights that may be applicable to the Executive
    under the Company’s and/or any other member of the Company Group’s by-laws or other governing documents.

   

  5.7.      Severability. The terms and provisions of this Agreement are intended to be separate and divisible provisions and if, for any
    reason, any one or more of them is held to be invalid or unenforceable, neither the validity nor the enforceability of any other provision of this Agreement shall thereby be affected. It is the intention of the parties to this Agreement that the
    Restrictive Covenants be reasonable in duration, geographic scope and in all other respects. The Executive agrees that the Restrictive Covenants, including, without limitation, the duration, geographic scope and activity restrictions of each
    restriction, are reasonable in light of the Executive’s position. However, if for any reason any court of competent jurisdiction shall find any provision of the Restrictive Covenants unreasonable in duration or geographic scope or otherwise, it is the
    intention of the parties that the restrictions and prohibitions contained therein shall be modified by the court to be effective to the fullest extent allowed under applicable law in such jurisdiction.

   

  
    15 

    
      
 

  

   

  5.8.      Captions. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect.

   

  5.9.     Counterparts. This Agreement may be executed in counterparts and delivered by facsimile transmission or electronic transmission
    in “portable document format,” each of which shall be an original and which taken together shall constitute one and the same document.

   

  5.10.   Entire Agreement. This Agreement contains the entire agreement concerning the subject matter hereof and supersedes
    all prior and contemporaneous agreements, understandings, discussions, negotiations and undertakings, whether written or oral, between the parties and their respective Affiliates relating to such subject matter (including any term sheet or offer
    letter).

   

  5.11.     Survivorship. The provisions of Article 1, Article 5, Section 2.1 and Sections 4.4 through 4.16 shall
    survive the termination of the Executive’s employment with the Company and this Agreement in accordance with their terms.

   

  5.12.     Successors and Assigns. The Company may assign its rights and/or delegate its obligations under this Agreement to
    any entity within the Company Group or to any purchaser or other successor of any entity within the Company Group, whether by operation of law, agreement or otherwise (including, without limitation, any Person who acquires all or a substantial portion
    of the business of the Company Group (whether direct or indirect and whether structured as a stock sale, asset sale, merger, recapitalization, consolidation or other transaction)) and, in connection with any such delegation of its obligations hereunder
    (but only so long as such assignee or delegee has consented in writing to be bound by the obligations hereunder) shall be released from such obligations hereunder. This Agreement may not be assigned by the Executive. Except as otherwise provided
    herein, this Agreement shall bind and inure to the benefit of and be enforceable by the Executive, the Company and their respective successors and permitted assigns.

   

  [Signature page follows]

   

  
    16 

    
      
 

  

   

  IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and the Company has caused this
    Agreement to be executed on its behalf, each as of the date first above written.

   

  	
           

        	
          FEMASYS INC.

        
	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
          /s/ Kathy Lee-Sepsick

        
	
           

        	
           

        	
          Name: Kathy Lee-Sepsick

        
	
           

        	
           

        	
          Title:   President & CEO

        

   

  	
           

        	
          EXECUTIVE

        
	 	 
	
           

        	
          /s/ Lexy Kelley

        
	
           

        	
          Lexy Kelley, MD

        

   

  
     

    
      
 

  

   

  EXHIBIT A

   

  OUTSIDE ACTIVITIES

   

  
     

    
      
 

  

   

  EXHIBIT B

   

  PRIOR INVENTIONS

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