Document:

Patent License Agreement

 Exhibit 10.19 

PUBLIC HEALTH SERVICE 

PATENT LICENSE AGREEMENT-NONEXCLUSIVE 

COVER PAGE 
 For
PHS internal use only: 
 License Number: 
  

			
	 License Application Number:
	 	 A-067-2009

Serial Number(s) of Licensed Patent(s) or Patent Application(s): 

                [***] 

 

			
	 Licensee:
	 	 SurgiVision, Inc.

Cooperative Research and Development Agreement (CRADA) Number (if a subject invention): 

 

			
		 	 N/A

		
	 Additional Remarks:
	 	 none

		
	 Public Benefit(s):
	 	 Minimally invasive medical procedures

This Patent License Agreement, hereinafter referred to as the “Agreement”, consists of this Cover Page, an attached Agreement, a
Signature Page, Appendix A (List of Patent(s) or Patent Application(s)), Appendix B (Fields of Use and Territory), Appendix C (Royalties), Appendix D ((Benchmarks and Performance), Appendix E (Commercial Development Plan), Appendix F (Example
Royalty Report), and Appendix G (Royalty Payment Options). The Parties to this Agreement are: 
  

	 	1)	The National Institutes of Health (“NIH”) or the Food and Drug Administration (“FDA”), hereinafter singly or collectively referred to
as “PHS”, agencies of (he United States Public Health Service within the Department of Health and Human Services (“HHS”); and 

 

	 	2)	The person, corporation, or institution identified above and on the Signature Page, having offices at the address indicated on the Signature Page, hereinafter referred
to as “Company.” Company and its Affiliates are hereinafter referred to as “Licensee.” 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request
for confidential treatment. 
  

 1 

 PHS PATENT LICENSE AGREEMENT-NONEXCLUSIVE  

PHS and Licensee agree as follows: 
  

	1.	 BACKGROUND 

  

	 	   1.1	In the course of conducting biomedical and behavioral research, PHS investigators made inventions that may have commercial applicability.

  

	 	   1.2	By assignment of rights from PHS employees and other inventors, HHS, on behalf of the Government, owns intellectual property rights claimed in any
United States or foreign patent applications or patents corresponding to the assigned inventions. HHS also owns any tangible embodiments of these inventions actually reduced to practice by PHS. 

 

	 	   1.3	The Secretary of HHS has delegated to PHS the authority to enter into this Agreement for the licensing of rights to these inventions under 35
U.S.C. §§200-212, the Federal Technology Transfer Act of 1986, 15 U.S.C. §3710(a), and the regulations governing the licensing of Government-owned inventions, 37 CFR Part 404. 

 

	 	   1.4	PHS desires to transfer these inventions to the private sector through commercialization licenses to facilitate the commercial development of products and
processes for public use and benefit. 

  

	 	   1.5	Licensee desires to acquire commercialization rights to certain of these inventions in order to develop processes, methods, or marketable products for public use
and benefit. 

  

	2.	 DEFINITIONS 

  

	 	   2.1	“Affiliate(s)” means a corporation or other business entity, which directly or indirectly is controlled by or controls, or is under common control with
Licensee. For this purpose, the term “control” shall mean (a) having ownership of more than fifty percent (50%) of the voting stock or other ownership interest of the corporation or other business entity, (b) having
the power to elect or appoint more than fifty percent (50%) of the members of the governing body of the corporation or other business entity, or (c) otherwise having the power to direct the management of the corporation or other business
entity. 

  

	 	   2.2	“Benchmarks” mean the performance milestones that are set forth in Appendix D. 

 

	 	   2.3	“Commercial Development Plan” means the written commercialization plan attached as Appendix E. 

 

	 	   2.4	“First Commercial Sale” means the initial transfer by or on behalf of Licensee or its sublicensees of Licensed Products or the initial
practice of a Licensed Process by or on behalf of Licensee or its sublicensees in exchange for cash or some equivalent to which value can be assigned for the purpose of determining Net Sales. 

 

	 	   2.5	“Government” means the Government of the United States of America. 

 

	 	   2.6	“Licensed Fields of Use” means the fields of use identified in Appendix B. 

 

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	 	   2.7	“Licensed Patent Rights” shall mean: 

  

	 	    (a)	Patent applications (including provisional patent applications and PCT patent applications) or patents listed in Appendix A, all divisions and continuations of these
applications, all patents issuing from these applications, divisions, and continuations, and any reissues, reexaminations, and extensions of all these patents; 

 

	 	    (b)	to the extent that the following contain one or more claims directed to the invention or inventions disclosed in 2.7(a): 

 

	 	  (i)	 continuations-in-part of 2.7(a); 

  

	 	  (ii)	 all divisions and continuations of these continuations-in-part; 

 

	 	  (iii)	 all patents issuing from these continuations-in-part, divisions, and continuations; 

 

	 	  (iv)	 priority patent application(s) of 2.7(a); and 

  

	 	  (v)	 any reissues, reexaminations, and extensions of all these patents; 

 

	 	    (c)	to the extent that the following contain one or more claims directed to the invention or inventions disclosed in 2.7(a): all counterpart foreign and U.S. patent
applications and patents to 2.7(a) and 2.7(b), including those listed in Appendix A; and 

  

	 	    (d)	Licensed Patent Rights shall not include 2.7(b) or 2.7(c) to the extent that they contain one or more claims directed to new matter which is not the
subject matter disclosed in 2.7(a). 

  

	 	   2.8	“Licensed Process(es)” means methods, processes or software implementations thereof, which in the course of being practiced, would be or derived from
the Materials or would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent
jurisdiction. 

  

	 	   2.9	“Licensed Product(s)” means tangible materials, products, or systems or devices which in the course of manufacture, use, sale, or importation, enable
the Licensed Process(es) derived from the Materials or would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable
judgment of a court of competent jurisdiction. 

  

	 	   2.10	“Material(s)” means documentation and software, including without limitation, any computer readable or executable object or source code, that enable,
carry out or support a Licensed Process or that is used to produce or operate a Licensed Product. For the avoidance of any doubt, the Materials include, without limitation, any software that enables, carries out or supports
(a) the inventions included in the Licensed Patent Rights, (b) the invention(s) disclosed and described in [***] and (c) the invention(s) disclosed and described in [***] 

 

	 	   2.11	“Licensed Territory” means the geographical areas identified in Appendix B. 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request
for confidential treatment. 
  

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	 	   2.12	“Net Sales” means the total gross receipts for sales of Licensed Products, unmodified Materials or the practice of Licensed Processes
by or on behalf of Licensee or its sublicensees, and from leasing, renting, or otherwise making Licensed Products available to others without sale or other dispositions, whether invoiced or not, less returns and allowances, packing
costs, insurance costs, freight out, taxes or excise duties imposed on the transaction (if separately invoiced), and wholesaler and cash discounts in amounts customary in the trade to the extent actually granted. No deductions shall be made for
commissions paid to individuals, whether they are with independent sales agencies or regularly employed by Licensee, or sublicensees and on its payroll, or for the cost of collections. Transactions excluded from Net Sales are the
transfer of Licensed Products or the practice of a Licensed Process for the purpose of obtaining regulatory approval thereof or for use in non-commercial research by Licensee. 

 

	 	   2.13	“Practical Application” means to manufacture in the case of a composition or product, to practice in the case of a process or method, or to operate in
the case of a machine or system; and in each case, under these conditions as to establish that the invention is being utilized and that its benefits are to the extent permitted by law or Government regulations available to the public on
reasonable terms. 

  

	3.	 GRANT OF RIGHTS 

  

	 	   3.1	PHS hereby grants and Licensee accepts, subject to the terms and conditions of this Agreement, a nonexclusive license under the Licensed Patent
Rights in the Licensed Territory as set forth in Appendix B(II)(a) and in the Materials in the Licensed Territory as set forth in Appendix B(II)(b); to make and have made, to use and have used, to sell and have sold, to
offer to sell, and to import any Licensed Products and Materials in the Licensed Fields of Use and to practice and have practiced any Licensed Processes and Materials in the Licensed Fields of Use.

  

	 	   3.2	This Agreement confers no license or rights by implication, estoppel, or otherwise under any patent applications or patents of PHS other than the
Licensed Patent Rights regardless of whether these patents are dominant or subordinate to the Licensed Patent Rights. 

  

	 	   3.3	Upon receipt by PHS of the license issue royalty herein set forth in Article 6 and Appendix C and the verification of this royalty, PHS agrees to provide
Licensee with copies of the Materials in a computer readable format, as available, and to replace these Materials, as available, at reasonable cost, in the event of their unintentional destruction. 

 

	 	   3.4	It is understood that any improvements, enhancements, modifications, or derivative works made to the Materials by Licensee shall be owned by Licensee
and maybe subject to the Government’s right to use to the extent provided by applicable law. 

  

	4.	 SUBLICENSING 

  

	 	   4.1	Upon written approval, which shall include prior review of any sublicense agreement by PHS and which shall not be unreasonably withheld, Licensee may
enter into sublicensing agreements under the Licensed Patent Rights only when it concurrently licenses proprietary or in-licensed intellectual property rights. For the avoidance of doubt, Licensee does not have the right to solely
sublicense the Licensed Patent Rights or the Materials. 

  

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	 	   4.2	Licensee agrees that any sublicenses granted by it shall provide that the obligations to PHS of Paragraphs 5.1,8.1, 10.1, 10.2, 12.5, and 13.7-13.9 of
this Agreement shall be binding upon the sublicensee as if it were a party to this Agreement Licensee further agrees to attach copies of these Paragraphs to all sublicense agreements. 

 

	 	   4.3	Any sublicenses granted by Licensee shall provide for the termination of the sublicense, or the conversion to a license directly between the sublicensees and
PHS, at the option of the sublicensee, upon termination of this Agreement under Article 13. This conversion is subject to PHS approval and contingent upon acceptance by the sublicensee of the remaining provisions of this
Agreement. 

  

	 	   4.4	Licensee agrees to forward to PHS a complete copy of each fully executed sublicense agreement postmarked within thirty (30) days of the execution of
the agreement. To the extent permitted by law, PHS agrees to maintain each sublicense agreement in confidence. 

  

	5.	 STATUTORY AND PHS REQUIREMENTS AND RESERVED GOVERNMENT RIGHTS 

 

	 	   5.1	Licensee agrees that products used or sold in the United States embodying Licensed Products or produced through use of Licensed Processes shall be
manufactured substantially in the United States, unless a written waiver is obtained in advance from PHS. 

  

	6.	 ROYALTIES AND REIMBURSEMENT 

  

	 	   6.1	Licensee agrees to pay PHS a noncreditable and nonrefundable amount as reimbursement for patent expenses associated with obtaining the Licensed Patent
Rights as set forth in Appendix C. 

  

	 	   6.2	Licensee agrees to pay PHS a minimum annual royalty as set forth in Appendix C. 

 

	 	   6.3	Licensee agrees to pay PHS earned royalties as set forth in Appendix C. 

 

	 	   6.4	Licensee agrees to pay PHS benchmark royalties as set forth in Appendix C. 

 

	 	   6.5	Licensee agrees to pay PHS sublicensing royalties as set forth in Appendix C. 

 

	 	   6.6	A patent or patent application licensed under this Agreement shall cease to fall within the Licensed Patent Rights for the purpose of computing earned
royalty payments in any given country on the earliest of the dates that: 

  

	 	    (a)	 the application has been abandoned and not continued; 

 

	 	    (b)	 the patent expires or irrevocably lapses; or 

  

	 	    (c)	 the patent has been held to be invalid or unenforceable by an unappealed or unappealable decision of a court of competent jurisdiction or
administrative agency. 

  

	 	   6.7	No multiple royalties shall be payable because any Licensed Products or Licensed Processes are covered by more than one of the Licensed Patent
Rights. 

  

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	 	   6.8	On sales of Licensed Products by Licensee to sublicensees or on sales made in other than an arms-length transaction, the value of the Net Sales
attributed under this Article 6 to this transaction shall be that which would have been received in an arms-length transaction, based on sales of like quantity and quality products on or about the time of this transaction. 

 

	 	   6.9	Licensee may elect to surrender its rights in any country of the Licensed Territory under any of the Licensed Patent Rights upon sixty
(60) days written notice to PHS and owe no payment obligation under Paragraph 6.9 for patent-related expenses incurred in that country after the effective date of the written notice. 

 

	 	   6.10	PHS agrees that the royalty terms in any third party license of the Licensed Patent Rights and Materials in a field of use that includes all or a
substantial portion of the Licensed Fields of Use executed after the effective date of this Agreement will be at least equal to the royalty terms set forth in this Agreement under Article 6 and Appendix C. During the term of
this Agreement, PHS will advise Licensee about terms granted in any third party licenses to the Licensed Patent Rights or Materials in a field of use that includes all or a substantial portion of the Licensed
Fields of Use that are more favorable to the third party licensee than those agreed to herein. During the term of this Agreement, PHS will consider the views of Licensee in determining whether the terms granted to said third party
licensee under the Licensed Patent Rights and Materials in the Licensed Fields of Use are more favorable than those granted to Licensee herein, and Licensee shall be entitled, upon written notice to PHS
within sixty (60) days after receipt, to have this Agreement amended to substitute those terms, in their entirety, as of the date those terms became effective with the third party. 

 

	7.	 PATENT FILING. PROSECUTION. AND MAINTENANCE 

 

	 	   7.1	PHS agrees to take responsibility for the preparation, filing, prosecution, and maintenance of any and all patent applications or patents included in the
Licensed Patent Rights. PHS (a) will cause its patent counsel to timely copy Licensee on all official actions and written correspondence with any patent office and timely provide Licensee advance written notice of
any filing deadline, (b) allow Licensee an opportunity to comment and advise PHS, and (c) consider and reasonably incorporate comments and advice from Licensee. The extent to which the comments and advice will be
incorporated may be affected by third party licenses, if any, executed by PHS for the Licensed Patent Rights. 

  

	8.	 RECORD KEEPING 

  

	 	   8.1	Licensee agrees to keep accurate and correct records of Licensed Products made, used, sold, or imported and Licensed Processes practiced under this
Agreement appropriate to determine the amount of royalties due PHS. These records shall be retained for at least three (3) years following a given reporting period and shall be available during normal business hours for
inspection, at the expense of PHS, by an accountant or other designated auditor selected by PHS for the sole purpose of verifying reports and royalty payments hereunder. The accountant or auditor shall only disclose to PHS
information relating to the accuracy of reports and royalty payments made under this Agreement. If an inspection shows an underreporting or underpayment in excess of five percent (5%) for any twelve (12) month period, then
Licensee shall reimburse PHS for the cost of the inspection at the time Licensee pays the unreported royalties, including any additional royalties as required by Paragraph 9.7. All royalty payments required under this Paragraph
shall be due within sixty (60) days of the date PHS provides Licensee notice of the payment due. 

  

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	 	   8.2	Licensee agrees to have an audit of sales and royalties conducted by an independent auditor at least every two (2) years if annual Net Sales of the
Licensed Products or Licensed Processes are over ten (10) million dollars. The audit shall address, at a minimum, the amount of gross sales by or on behalf of Licensee during the audit period, the amount of royalties owed
to the Government under this Agreement, and whether the royalties owed have been paid to the Government and is reflected in the records of the Licensee. The audit shall also indicate the PHS license number,
product, and the time period being audited. A report certified by the auditor shall be submitted promptly by the auditor directly to PHS on completion. Licensee shall pay for the entire cost of the audit. 

 

	9.	 REPORTS ON PROGRESS. BENCHMARKS. SALES. AND PAYMENTS 

 

	 	   9.1	Prior to signing this Agreement, Licensee has provided PHS with the Commercial Development Plan in Appendix E, under which Licensee intends
to bring the subject matter of the Licensed Patent Rights to the point of Practical Application. This Commercial Development Plan is hereby incorporated by reference into this Agreement. Based on this plan, performance
Benchmarks are determined as specified in Appendix D. 

  

	 	   9.2	Licensee shall provide written annual reports on its product development progress or efforts to commercialize under the Commercial Development Plan for
each of the Licensed Fields of Use within sixty (60) days after December 31 of each calendar year. These progress reports shall include, but not be limited to: progress on research and development, status of applications for
regulatory approvals, manufacturing, marketing, importing, and sales during the preceding calendar year, as well as, plans for the present calendar year. PHS also encourages these reports to include information on any of Licensee’s
public service activities that relate to the Licensed Patent Rights. If reported progress differs from that projected in the Commercial Development Plan and Benchmarks, Licensee shall explain the reasons for such
differences. In any annual report, Licensee may propose amendments to the Commercial Development Plan, acceptance of which by PHS may not be denied unreasonably. Licensee agrees to provide any additional information
reasonably required by PHS to evaluate Licensee’s performance under this Agreement Licensee may amend the Benchmarks at any time upon written approval by PHS. PHS shall not unreasonably withhold approval of
any request of Licensee to extend the time periods of this schedule if the request is supported by a reasonable showing by Licensee of diligence in its performance under the Commercial Development Plan and toward bringing the
Licensed Products to the point of Practical Application. 

  

	 	   9.3	Licensee shall report to PHS the dates for achieving Benchmarks specified in Appendix D and the First Commercial Sale in each country in the
Licensed Territory within thirty (30) days of such occurrences. 

  

	 	   9.4	Licensee shall submit to PHS, within sixty (60) days after each calendar half-year ending June 30 and December 31, beginning the year of
the First Commercial Sale, a royalty report, as described in the example in Appendix F, setting forth for the preceding half-year period the amount of the Licensed Products sold or Licensed Processes practiced by or on behalf of
Licensee or its sublicensees in each country within the Licensed Territory, the Net Sales, and the amount of royalty accordingly due. With each royalty report, Licensee shall submit payment of earned royalties due. If no
earned royalties are due to PHS for any reporting period, the written report shall so state. The royalty report shall be certified as correct by an authorized officer of Licensee and shall include a detailed listing of all deductions
made under Paragraph 2.11 to determine Net Sales made under Article 6 to determine royalties due. 

  

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	 	   9.5	Royalties due under Article 6 shall be paid in U.S. dollars and payment options are listed in Appendix G. For conversion of foreign currency to U.S. dollars, the
conversion rate shall be the New York foreign exchange rate quoted in The Wall Street Journal on the day that the payment is due, and any loss of exchange, value, taxes, or other expenses incurred in the transfer or conversion to U.S. dollars
shall be paid entirely by Licensee. The royalty report required by Paragraph 9.4 shall be mailed to PHS at its address for Agreement Notices indicated on the Signature Page. 

 

	 	   9.6	Licensee agrees to forward semi-annually to PHS a copy of these reports received by Licensee from its sublicensees during the preceding half-year
period as shall be pertinent to a royalty accounting to PHS by Licensee for activities under the sublicense. 

  

	 	   9.7	Licensee shall be solely responsible for determining if any tax on royalty income is owed outside the United States and shall pay this tax and be responsible for
all filings with appropriate agencies of foreign governments. 

  

	 	   9.8	Additional royalties may be assessed by PHS on any payment that is more than ninety (90) days overdue at the rate of one percent (1%) per month. This
one percent (1%) per month rate may be applied retroactively from the original due date until the date of receipt by PHS of the overdue payment and additional royalties. The payment of any additional royalties shall not prevent
PHS from exercising any other rights it may have as a consequence of the lateness of any payment. 

  

	 	   9.9	All plans and reports required by this Article 9 and marked “confidential” by Licensee shall, to the extent permitted by law, be treated by PHS
as commercial and financial information obtained from a person and as privileged and confidential, and any proposed disclosure of these records by the PHS under the Freedom of Information Act (FOIA), 5 U.S.C. §552 shall be subject to the
pre-disclosure notification requirements of 45 CFR §5.65(d). 

  

	10.	 PERFORMANCE 

  

	 	   10.1	Licensee shall use its reasonable commercial efforts to bring the Licensed Products and Licensed Processes to Practical Application.
“Reasonable commercial efforts” for the purposes of this provision shall include adherence to the Commercial Development Plan in Appendix E and taking reasonable commercial efforts to achieve the Benchmarks in Appendix D.

  

	 	   10.2	Upon the First Commercial Sale, until the expiration or termination of this Agreement, Licensee shall use its reasonable commercial efforts to make
Licensed Products and Licensed Processes reasonably accessible to the United States public. 

  

	 	   10.3	Licensee agrees, after its First Commercial Sale and as part of its marketing and product promotion, to develop educational materials (e.g., brochures,
website, etc.) directed to patients and physicians detailing the Licensed Products or medical aspects of the prophylactic and therapeutic uses of the Licensed Products. 

 

	 	   10.4	Licensee agrees to retain control over the Materials, and not to distribute them to third parties without the prior written consent of PHS except
as provided in Article 4. 

  

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	11.	 INFRINGEMENT AND PATENT ENFORCEMENT 

  

	 	   11.1	PHS and Licensee agree to notify each other promptly of each infringement or possible infringement of the Licensed Patent Rights, as well as, any
facts which may affect the validity, scope, or enforceability of the Licensed Patent Rights of which either Party becomes aware. Subject to Paragraph 11.2 below, Licensee will have the right, but not the obligation, at its own expense
and with legal counsel of its own choice, to bring suit against any actual, alleged or threatened infringement of the Licensed Patent Rights. In any action brought under this Paragraph 11.2 the expenses including costs, fees, attorney fees,
and disbursements, shall be paid by Licensee. The value of any recovery made by Licensee through court judgment or settlement shall be treated as Net Sales and subject to earned royalties. 

 

	 	   11.2	In the event that a declaratory judgment action alleging invalidity of any of the Licensed Patent Rights shall be brought against PHS, PHS agrees
to notify Licensee that an action alleging invalidity has been brought. PHS does not represent that it shall commence legal action to defend against a declaratory action alleging invalidity. Licensee shall take no action to
compel the Government either to initiate or to join in any declaratory judgment action. Should the Government be made a party to any suit by motion or any other action of Licensee, Licensee shall reimburse the
Government for any costs, expenses, or fees, which the Government incurs as a result of the motion or other action. Upon Licensee’s payment of all costs incurred by the Government as a result of
Licensee’s joinder motion or other action, these actions by Licensee shall not be considered a default in the performance of any material obligation under this Agreement. 

 

	12.	 NEGATION OF WARRANTIES AND INDEMNIFICATION 

  

	 	   12.1	PHS offers no warranties other than those specified in Article 1. 

  

	 	   12.2	PHS does not warrant the validity of the Licensed Patent Rights and makes no representations whatsoever with regard to the scope of the Licensed Patent
Rights, or that the Licensed Patent Rights may be exploited without infringing other patents or other intellectual property rights of third parties. 

 

	 	   12.3	PHS MAKES NO WARRANTIES, EXPRESSED OR IMPLIED, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF ANY OF THE MATERIALS OR SUBJECT MATTER DEFINED BY
THE CLAIMS OF THE LICENSED PATENT RIGHTS. 

  

	 	   12.4	PHS does not represent that it shall commence legal actions against third parties infringing the Licensed Patent Rights. 

 

	 	   12.5	Licensee shall indemnify and hold PHS, its employees, students, fellows, agents, and consultants harmless from and against all liability, demands,
damages, expenses, and losses, including but not limited to death, personal injury, illness, or property damage in connection with or arising out of: 

  

	 	     (a)	the use by or on behalf of Licensee, its sublicensees, its directors, employees, or third parties of any Licensed Patent Rights; or 

 

	 	     (b)	the design, manufacture, distribution, or use of any Licensed Products, Licensed Processes or Materials by Licensee, or other products or processes
developed in connection with or arising out of the Licensed Patent Rights. 

  

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	 	   12.6	Licensee agrees to maintain a liability insurance program consistent with sound business practice. 

 

	13.	 TERM, TERMINATION, AND MODIFICATION OF RIGHTS 

 

	 	   13.1	This Agreement is effective when signed by all parties, unless the provisions of Paragraph 14.15 are not fulfilled, and shall extend to the expiration of the
last to expire of the Licensed Patent Rights or if no patents issue then for twenty (20) years from the effective date of this Agreement, unless sooner terminated as provided in this Article 13. Upon expiration of the term of this
Agreement, the license granted hereunder to make and have made, to use and have used, to sell and have sold, to offer to sell, and to import the Materials shall be a royalty-free and paid up license. 

 

	 	   13.2	In the event that Licensee is in default in the performance of any material obligations under this Agreement, including but not limited to the obligations
listed in Paragraph 13.5, and if the default has not been remedied within ninety (90) days after the date of notice in writing of the default, PHS may terminate this Agreement by written notice and pursue outstanding royalties
owed through procedures provided by the Federal Debt Collection Act. 

  

	 	   13.3	In the event that Licensee becomes insolvent, files a petition in bankruptcy, has such a petition filed against it, determines to file a petition in bankruptcy,
or receives notice of a third party’s intention to file an involuntary petition in bankruptcy, Licensee shall immediately notify PHS in writing. Furthermore, PHS shall have the right to terminate this Agreement
immediately upon Licensee’s receipt of written notice upon the occurrence of any of the foregoing events. 

  

	 	   13.4	Licensee shall have a unilateral right to terminate this Agreement in its entirety by giving PHS sixty (60) days written notice to that
effect. In addition, Licensee shall have a unilateral right to terminate this Agreement with respect to any country or territory by giving PHS sixty (60) days written notice to that effect. 

 

	 	   13.5	PHS shall specifically have the right to terminate or modify, at its option, this Agreement, if PHS determines that the Licensee:

  

	 	     (a)	is not executing the Commercial Development Plan submitted with its request for a license and the Licensee cannot otherwise demonstrate to PHS’
satisfaction that the Licensee has taken, or can be expected to take within a reasonable time, commercially reasonable steps to achieve Practical Application of the Licensed Products or Licensed Processes;

  

	 	     (b)	has not exercised commercially reasonable efforts toward achieving the Benchmarks as may be modified under Paragraph 9.2; 

 

	 	     (c)	has willfully made a false statement of, or willfully omitted, a material fact in the license application or in any report required by this Agreement;

  

	 	     (d)	has committed a material breach of a covenant or agreement contained in this Agreement; 

 

	 	     (e)	is not keeping Licensed Products or Licensed Processes reasonably available to the public after commercial use commences; 

 

	 	     (f)	cannot reasonably satisfy unmet health and safety needs; or 

  

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	 	      (g)	cannot reasonably justify a failure to comply with the domestic production requirement of Paragraph 5.2, unless waived. 

 

	 	   13.6	In making the determination referenced in Paragraph 13.5, PHS shall take into account the normal course of such commercial development programs conducted with
sound and reasonable business practices and judgment and the annual reports submitted by Licensee under Paragraph 9.2. Prior to invoking termination or modification of this Agreement under Paragraph 13.5, PHS shall give written
notice to Licensee providing Licensee specific notice of, and a ninety (90) day opportunity to respond to, PHS’ concerns as to the items referenced in 13.5(a)-13.5(g). If Licensee fails to alleviate
PHS’ concerns as to the items referenced in 13.5(a)-13.5(g) or fails to initiate corrective action to PHS’ satisfaction, PHS may terminate this Agreement. 

 

	 	   13.7	PHS reserves the right according to 35 U.S.C. §209(d)(3) to terminate or modify this Agreement if it is determined that the action is necessary to
meet the requirements for public use specified by federal regulations issued after the date of the license and these requirements are not reasonably satisfied by Licensee. 

 

	 	   13.8	Within thirty (30) days of receipt of written notice of PHS’ unilateral decision to modify or terminate this Agreement, Licensee may, consistent
with the provisions of 37 CFR §404.11, appeal the decision by written submission to the designated PHS official. The decision of the designated PHS official shall be the final agency decision. Licensee may thereafter
exercise any and all administrative or judicial remedies that may be available. 

  

	 	   13.9	Within ninety (90) days of expiration or termination of this Agreement under this Article 13, a final report shall be submitted by Licensee. Any
royalty payments, including those incurred but not yet paid (such as the full minimum annual royalty), and those related to patent expense, due to PHS shall become immediately due and payable upon termination or expiration. If terminated
under this Article 13, sublicensees may elect to convert their sublicenses to the Licensed Patent Rights to direct licenses with PHS pursuant to Paragraph 4.3. 

 

	14.	 GENERAL PROVISIONS 

  

	 	   14.1	Neither party may waive or release any of its rights or interests in this Agreement except in writing. The failure of the Government or Licensee to
assert a right hereunder or to insist upon compliance with any term or condition of this Agreement shall not constitute a waiver of that right by the Government or Licensee, as applicable, or excuse a similar subsequent failure
to perform any of these terms or conditions by Licensee or the Government, as applicable. 

  

	 	   14.2	This Agreement constitutes the entire agreement between the Parties relating to the subject matter of the Licensed Patent Rights, Licensed Products and
Licensed Processes, and all prior negotiations, representations, agreements, and understandings are merged into, extinguished by, and completely expressed by this Agreement. 

 

	 	   14.3	The provisions of this Agreement are severable, and in the event that any provision of this Agreement shall be determined to be invalid or unenforceable
under any controlling body of law, this determination shall not in any way affect the validity or enforceability of the remaining provisions of this Agreement. 

 

 11 

	 	   14.4	If either party desires a modification to this Agreement, the parties shall, upon reasonable notice of the proposed modification by the party desiring the
change, confer in good faith to determine the desirability of the modification. No modification shall be effective until a written amendment is signed by the parties hereto. 

 

	 	   14.5	The construction, validity, performance, and effect of this Agreement shall be governed by Federal law as applied by the Federal courts in the District of
Columbia. 

  

	 	   14.6	All Agreement notices required or permitted by this Agreement shall be given by prepaid, first class, registered or certified mail or by an
express/overnight delivery service provided by a commercial carrier, properly addressed to the other party at the address designated on the Signature Page, or to any other address as may be designated in writing by such other party. Agreement
notices shall be considered timely if such notices are received on or before the established deadline date or sent on or before the deadline date as verifiable by U.S. Postal Service postmark or dated receipt from a commercial carrier. Parties
should request a legibly dated U.S. Postal Service postmark or obtain a dated receipt from a commercial carrier or the U.S. Postal Service. Private metered postmarks shall not be acceptable as proof of timely mailing. 

 

	 	   14.7	This Agreement shall not be assigned or otherwise transferred (including any transfer by legal process or by operation of law, and any transfer in bankruptcy or
insolvency, or in any other compulsory procedure or order of court) except to Licensee’s Affiliate(s) without the prior written consent of PHS, which shall not be unreasonably withheld, conditioned or delayed. The parties agree
that the identity of the parties is material to the formation of this Agreement and that the obligations under this Agreement are nondelegable 

 

	 	   14.8	Licensee agrees in its use of any PHS-supplied materials to comply with all applicable statutes, regulations, and guidelines, including PHS and
HHS regulations and guidelines. Licensee agrees not to use the materials for research involving human subjects or clinical trials in the United States without complying with 21 CFR Part 50 and 45 CFR Part 46. Licensee agrees not
to use the materials for research involving human subjects or clinical trials outside of the United States without notifying PHS, in writing, of the research or trials and complying with the applicable regulations of the appropriate national
control authorities. Written notification to PHS of research involving human subjects or clinical trials outside of the United States shall be given no later than sixty (60) days prior to commencement of the research or trials.

  

	 	   14.9	Licensee acknowledges that it is subject to and agrees to abide by the United States laws and regulations (including the Export Administration Act of 1979 and
Arms Export Control Act) controlling the export of technical data, computer software, laboratory prototypes, biological materials, and other commodities. The transfer of these items may require a license from the appropriate agency of the
Government or written assurances by Licensee that it shall not export these items to certain foreign countries without prior approval of the agency. PHS neither represents that a license is or is not required or that, if
required, it shall be issued. 

  

	 	   14.10	Licensee agrees to mark the Licensed Products or their packaging sold in the United States with all applicable U.S. patent numbers and similarly to
indicate “Patent Pending” status, if appropriate. All Licensed Products manufactured in, shipped to, or sold in other countries shall be marked in a manner to preserve PHS patent rights in those countries, if any.

  

 12 

	 	   14.11	By entering into this Agreement, PHS does not directly or indirectly endorse any product or service provided, or to be provided, by Licensee whether
directly or indirectly related to this Agreement. Licensee shall not state or imply that this Agreement is an endorsement by the Government, PHS, any other Government organizational unit, or any Government
employee. Additionally, Licensee shall not use the names of NIH, PHS, FDA or HHS or the Government or their employees in any advertising, promotional, or sales literature without the prior written approval of
PHS. 

  

	 	   14.12	The Parties agree to attempt to settle amicably any controversy or claim arising under this Agreement or a breach of this Agreement, except for appeals of
modifications or termination decisions provided for in Article 13. Licensee agrees first to appeal any unsettled claims or controversies to the designated PHS official, or designee, whose decision shall be considered the final agency
decision. Thereafter, Licensee may exercise any administrative or judicial remedies that may be available. 

  

	 	   14.13	Nothing relating to the grant of a license, nor the grant itself, shall be construed to confer upon any person any immunity from or defenses under the antitrust laws or
from a charge of patent misuse, and the acquisition and use of rights pursuant to 37 CFR Part 404 shall not be immunized from the operation of state or Federal law by reason of the source of the grant. 

 

	 	   14.14	Paragraphs 3.4, 8.1, 9.7-9.9, 12.1-12.5, 13.1, 13.8, 13.9, 14.12 and 14.14 of this Agreement shall survive termination of this Agreement.

  

	 	   14.15	The terms and conditions of this Agreement shall, at PHS’ sole option, be considered by PHS to be withdrawn from Licensee’s
consideration and the terms and conditions of this Agreement, and the Agreement itself to be null and void, unless this Agreement is executed by the Licensee and a fully executed original is received by PHS within
sixty (60) days from the date of PHS signature found at the Signature Page. 

 SIGNATURES BEGIN ON
NEXT PAGE 
  

 13 

 PHS PATENT LICENSE AGREEMENT - NONEXCLUSIVE 

SIGNATURE PAGE 

For PHS: 
  

					
	 /s/ Richard U. Rodriguez
	  	 4.22.09
	  	
	 Richard U. Rodriguez
	  	 Date
	  	
	 Director, Division of Technology Development and Transfer
	  		  	
	 Office of Technology Transfer
	  		  	
	 National Institutes of Health
	  		  	

 Mailing Address for Agreement notices:

 Chief, Monitoring & Enforcement Branch 

Office of Technology Transfer 

National Institutes of Health 

6011 Executive Boulevard, Suite 325 

Rockville, Maryland 20852-3804 U.S.A. 

For Licensee (Upon, information and belief, the undersigned expressly certifies or affirms that the contents of any statements of
Licensee made or referred to in this document are truthful and accurate.): 
  

					
	 By:
	  		  	
	 /s/ Oscar Thomas
	  	 4-27-09
	  	
	 Signature of Authorized Official
	  	 Date
	  	
			
	 Oscar Thomas
	  		  	
	 Printed Name
	  		  	
			
	 VICE PRESIDENT, BUSINESS AFFAIRS

Title
	  		  	

  

	 	I.	 Official and Mailing Address for Agreement notices: 

Oscar Thomas 

Name 

Vice President, Business Affairs 

Title 

Mailing Address 

One Commerce Square 

Suite 2550 

Memphis, TN 38103 

Email Address:      othomas@surgivision.com 

 

			
	 Phone:
	  	 (901)522-9344

		
	 Fax:
	  	 (901)522-9400

 

 14 

	 	II.	 Official and Mailing Address for Financial notices (Licensee’s contact person for royalty payments) 

 

			
	 Oscar Thomas
	  	
	Name	  	
		
	 Vice President, Business Affairs
	  	
	Title	  	
		
	Mailing Address:	  	
		
	 One Commerce Square
	  	
		
	 Suite 2550
	  	
		
	 Memphis, TN 38103
	  	

			
		
	 Email Address:
	  	 othomas@surgivision.com

		
	 Phone:
	  	     (901)522-9344

		
	 Fax:
	  	     (901)522-9400

Any false or misleading statements made, presented, or submitted to the Government, including any relevant omissions, under this Agreement
and during the course of negotiation of this Agreement are subject to all applicable civil and criminal statutes including Federal statutes 31 U.S.C. §§3801-3812 (civil liability) and 18 U.S.C. §1001 (criminal liability
including fine(s) and/or imprisonment). 
  

 15 

 APPENDIX A - PATENT(S) OR PATENT APPLICATION(S)

 Patent(s) or Patent Application(s): 

 [***] 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request
for confidential treatment. 
  

 16 

 APPENDIX B - LICENSED FIELDS OF USE AND TERRITORY 

 

	I.	 Licensed Fields of Use: 

 Devices and systems for MRI-guided medical procedures 

 

	II.	 Licensed Territory: 

  

	 	(a)	 United States, Commonwealths, Territories and Possessions 

 

	 	(b)	 Europe, Canada, China, Japan, Israel, Australia 

 

 17 

 APPENDIX C - ROYALTIES 

Royalties: 
  

	 	I.	With regard to unreimbursed expenses associated with the preparation, filing and prosecution of the U.S. patent applications specifically identified in Appendix A and
incurred by PHS prior to the effective date of this Agreement, Licensee shall pay PHS, Thirty Four Thousand Nine Hundred Fifty U.S. Dollars (USD $34,950) as an additional royalty, within sixty (60) days of
PHS’ submission of a statement and request for payment to Licensee. 

  

	 	II.	 Licensee agrees to pay to PHS a nonrefundable minimum annual royalty in the amount of [***] beginning on
January 1st of the year following the date of the
First Commercial Sale. Minimum annual royalties paid pursuant to this Paragraph may be credited against any earned royalties due for sales made in the year in which the minimum annual royalty is paid. 

 

	 	III.	Licensee agrees to pay PHS earned royalties of [***] on Net Sales by or on behalf of Licensee or a sublicensee. 

 

	 	IV.	Licensee agrees to pay PHS a one-time Benchmark royalty within sixty (60) days as set forth below: 

[***] 
  

	 	V.	Licensee agrees to pay PHS additional sublicensing royalties of [***] on the fair market value of any consideration received for granting each sublicense,
except for royalties received on sales of a Licensed Product or a Licensed Process sold by a sublicense, within sixty (60) days of the execution of each sublicense. 

 

	 	VI.	With regard to unreimbursed expenses associated with the preparation, filing, prosecution, and maintenance of all patent applications and patents included within the
Licensed Patent Rights and incurred by PHS on or after the effective date of this Agreement, PHS, at its sole option, may require Licensee to pay PHS on an annual basis, within sixty (60) days of
PHS’ submission of a statement and request for payment, a royalty amount equivalent to a pro rata share, based on the number of licensees of the Licensed Patent Rights, of these unreimbursed expenses incurred during the previous
calendar year(s). Any payments made under Paragraph VI, at the time of the request for payment under this Paragraph VII shall be factored into Licensee’s pro rata share. 

 

	 	VII.	PHS agrees, upon written request, to provide Licensee with summaries of patent prosecution invoices for which PHS has requested payment from the
Licensee under Paragraph 6.8 and this Appendix C. Licensee agrees that all information provided by PHS related to patent prosecution costs shall be treated as confidential commercial information and shall not be released to a
third party except as required by law or a court of competent jurisdiction or with the consent of PHS. 

 [***] Indicates
portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 

 18 

 APPENDIX D - BENCHMARKS AND PERFORMANCE 

Licensee agrees to the following Benchmarks for its performance under this Agreement and, within sixty (60) days of achieving a
Benchmark, shall notify PHS that the Benchmark has been achieved. 
  

	 	   I.	     [***] 

  

	 	   II.	     [***] 

  

	 	   III.	     [***] 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request
for confidential treatment. 
  

 19 

 APPENDIX E - COMMERCIAL DEVELOPMENT PLAN 

Licensee is a Delaware corporation formed in 1998. The Licensee’s mission is to harness the power of MRI to drive the
next generation of minimally invasive surgical procedures. 
 Licensee currently has 20 employees and offices situated in
three (3) states. The company’s development, manufacturing and distribution facility is located in Irvine, California, its advanced research and development facility is located in Baltimore, Maryland, and its corporate offices are centrally
located in Memphis, Tennessee. 
 From 1998 to 2002, Licensee deployed significant resources to fund research and product
development efforts. During that period, among other accomplishments, Licensee 
  

	 	•	 	 developed a series of miniature, disposable catheter-based coils that, that when used in conjunction with standard MRI technology, were capable of
generating breakthrough images, 

  

	 	•	 	 filed numerous patent applications, 

  

	 	•	 	 received multiple FDA approvals, and 

  

	 	•	 	 designed, developed and manufactured a range of devices (such as intravascular guidewire coils, esophageal coils, urethral coils, mapping and
ablation catheters and MRI-active needles) that incorporated the company’s proprietary loopless and loop MRI antenna technology. 

Licensee’s coils have been used for numerous research studies at sites across the U.S., including Johns Hopkins University
and the NIH. In 2003, Licensee’s focus shifted to identifying and building out commercial applications for the technologies the company developed in the prior years. Licensee first identified the field of neuromodulation for the
application of its technologies. Licensee anticipates commencing the commercial launch of its comprehensive interventional MRI system (designed to address the major hurdles associated with the current deep brain stimulation (DBS) lead
placement procedure) in 2009. 
 In addition, Licensee is also focused on MRI-guided therapeutic interventions for
cardiac electrophysiology, biopsies, tumor ablation, cell therapy and other biologics (such as gene therapy) and highly localized drug delivery, as well as MRI-safety for implantable medical devices. 

[***] 
 [***] Indicates
portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 

 20 

 APPENDIX F - EXAMPLE ROYALTY REPORT 

Required royalty report information includes: 
  

	•	 	 OTT license reference number (L-XXX-200X/0) 

	•	 	 Reporting period 

	•	 	 Catalog number and units sold of each Licensed Product (domestic and foreign) 

	•	 	 Gross Sales per catalog number per country 

	•	 	 Total Gross Sales 

	•	 	 Itemized deductions from Gross Sales 

	•	 	 Total Net Sales 

	•	 	 Earned Royalty Rate and associated calculations 

	•	 	 Gross Earned Royalty 

	•	 	 Adjustments for Minimum Annual Royalty (MAR) and other creditable payments made 

	•	 	 Net Earned Royalty due 

Example 

									
	Catalog Number	  	Product Name	  	Country	  	Units Sold	  	
Gross Sales

(US$)

	          
    1	  	        A	  	    US	  	      250	  	             62,500

	          
    1	  	        A	  	    UK	  	        32	  	             16,500

	          
    1	  	        A	  	 France	  	        25	  	             15,625

	          
    2	  	        B	  	    US	  	          0	  	              
    0
	          
    3	  	        C	  	    US	  	        57	  	             57,125

	          
    4	  	        D	  	    US	  	        12	  	             1,500

  

					
		 	     Total Gross Sales
	  	153,250              
		 	 Less Deductions:
	  	
		 	         Freight
	  	3,000              
		 	         Returns
	  	7,000              
		 	     Total Net Sales
	  	143,250              
			
		 	         Royalty Rate
	  	[***]         
		 	         Royalty Due
	  	[***]                 
		 	 Less Creditable Payments
	  	10,000               
		 	     Net Royalty Due
	  	[***]               

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request
for confidential treatment. 
  

 21 

 APPENDIX G - ROYALTY PAYMENT OPTIONS 

NIH/PHS License Agreements 

*ln order to process payment via Electronic Funds Transfer sender MUST supply the following information: 

Procedure for Transfer of Electronic Funds to NIH for Royalty Payments 

[***] 
 NOTE: Only U.S. banks can wire directly
to the Federal Reserve Bank. Foreign banks cannot wire directly to the Federal Reserve Bank, but must go through an intermediary U.S. bank. Foreign banks may send the wire transfer to the U.S. bank of their choice, who, in turn forwards the wire
transfer to the Federal Reserve Bank. 
 Checks drawn on a U.S. bank account should be sent directly to the following address: 

 National Institutes of Health (NIH) 

P.O. Box 979071 
 St. Louis, MO 63197-9000

 Overnight or courier deliveries should be sent to the following address: 

US Bank 
 Government Lockbox SL-MO-C2GL

 1005 Convention Plaza 
 St. Louis, MO
63101 
 Phone:314-418-4087 

Checks drawn on a foreign bank account should be sent directly to the following address: 

National Institutes of Health (NIH) 

Office of Technology Transfer 

Royalties Administration Unit 

6011 Executive Boulevard 

Suite 325, MSC 7660 

Rockville, Maryland 20852 

Phone: 301-496-7057 
 All
checks should be made payable to “NIH Patent Licensing”. 
 The OTT Reference Number MUST appear on checks, reports
and correspondence 
 [***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and
Exchange Commission pursuant to a request for confidential treatment. 
  

 22Master Services and Licensing Agreement

 Exhibit 10.20 

MASTER SERVICES AND LICENSING AGREEMENT 

BETWEEN 

CEDARA SOFTWARE CORP., an Ontario corporation, 

(hereinafter referred to as “Cedara”) 

and 

SURGI-VlSION, INC., a Delaware corporation, 

(hereinafter referred to as “Surgi-Vision”) 

 RECITALS 

WHEREAS, Cedara develops and distributes software applications for use in diagnostic imaging; 

AND WHEREAS, Surgi-Vision has developed a set of products and technologies that enable various MRI-guided procedures and therapeutic
interventions (the “Surgi-Vision Technology”); 
 AND WHEREAS, Surgi-Vision and Cedara wish to establish a
legal relationship under which Cedara will develop software to support the Surgi-Vision technology; 
 NOW,
THEREFORE, in consideration of the mutual covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto have decided to enter into this Master Services and
Licensing agreement (this “Agreement”), dated and effective from the
20th day
 of July, 2007 (the “Effective Date”), under the terms and conditions set forth below; 
  

	1.	 STANDARD DEFINITIONS 

  

	1.1	 Definitions 

  

	 	(a)	 “Agreement” means this Agreement, including the Schedules to this Agreement, and any Statements of Work made hereunder, as it or
they may be amended or supplemented from time to time, and the expressions “hereof”, “herein”, “hereto”, “hereunder”, “hereby” and similar expressions refer to this Agreement and to any particular
Section or other portion of this Agreement. 

  

	 	(b)	 “Business Day” means Monday to Friday except any statutory holiday observed in the Province of Ontario and “Business
Hour” means each hour from 9:00 am to 5:00 pm E.S.T. during a Business Day. 

  

	 	(c)	 “Cedara Software” means software, in object code form, used to develop the Solution that is owned by or in possession of Cedara
prior to the Effective Date or developed or acquired by Cedara during the Term independent of this Agreement or that is developed pursuant to this Agreement and determined to be owned by Cedara in accordance with Section 5.2.

  

	 	(d)	 “Change Request” means a written request for changes to any Custom Engineering Services. 

 

	 	(e)	 “Confidential Information” has the meaning attributed to it in Section 11.1. 

 

	 	(f)	 “Custom Engineering Services” means the custom engineering services offered by Cedara to Surgi-Vision in accordance with
Section 2. 

  

	 	(g)	 “Documentation” means the documentation which facilitates the use of the Cedara Software and that is provided to Surgi-Vision under
the terms of this Agreement. 

  

	 	(h)	 “Effective Date” has the meaning attributed to it in the Recitals. 

 

	 	(i)	 “End User” means any person or organization that is granted rights to a Solution for use in processing its own data in the normal
course of its business activities. 

  

 -2- 

	 	(j)	 “Engineering Team” means the team of custom engineering resources assigned by Cedara to Surgi-Vision in accordance with the terms
of this Agreement. 

  

	 	(k)	 “Initial Term” has the meaning attributed to it in Section 6.1. 

 

	 	(l)	 “Off-shore Engineer” means an engineer located outside North America. 

 

	 	(m)	 “On-shore Engineer” means an engineer located in North America. 

 

	 	(n)	 “Parties” means Cedara and Surgi-Vision and “Party” means either of them. 

 

	 	(o)	 “Professional Services” means the professional support services offered by Cedara to Surgi-Vision in accordance with Schedule B.

  

	 	(p)	 “Project(s)” means the specific Custom Engineering Services projects undertaken by Cedara at Surgi-Vision’s request from time
to time. 

  

	 	(q)	 “Renewal Term” has the meaning attributed to it in Section 6.1. 

 

	 	(r)	 “Solution” means a customized viewer software solution, Incorporating the Cedara Software, which supports the Surgi-Vision
Technology. 

  

	 	(s)	 “Statement of Work” or “SOW” means any work order made between the Parties which references and incorporates the
terms of this Agreement, and sets out the details of a particular Project including, without limitation, any applicable (i) Solution requirements; (ii) methodologies; (iii) project responsibilities; (iii) delivery milestones;
(iv) support; and (v) costs. 

  

	 	(t)	 “Surgi-Vision Technology” has the meaning attributed to it in the Recitals. 

 

	 	(u)	 “Term” means the period specified in Section 6 of this Agreement. 

 

	2.	 BUSINESS TERMS 

  

	2.1	 Custom Engineering Services 

  

	 	2.1.1	 General 

Surgi-Vision shall engage Cedara in various Custom Engineering Services Projects throughout the Term. Each Project shall
be defined by a Statement of Work signed by both Parties and numbered sequentially. Statement of Work No.1, covering the initial Project of defining the functional requirements for development of the Solution, is attached hereto as Schedule A. The
development of such Solution shall be based on the results of Statement of Work No.1 and shall be covered under a separate SOW. 
  

	 	2.1.2	 Engineering Team 

The Engineering Team shall consist of a combination of On-shore Engineers and Off-shore Engineers. The composition of
On-shore Engineers and Off-shore Engineers for any particular Project shall be specified in the applicable SOW. 
  

 -3- 

	 	2.1.3	 Project Management 

For each Project, each Party shall assign a project manager who shall be responsible for their respective Party’s
deliverables as defined by the Statement of Work. It is acknowledged and agreed that Cedara’s ability to meet Project milestone dates and deliverable requirements may, in whole or in part, be dependant upon Surgi-Vision’s timely response
to Cedara’s reasonable requests for co-operation made from time to time. 
  

	 	2.1.4	 Change Requests 

  

	 	(a)	 Proposed changes to any Custom Engineering Services may be initiated by Surgi-Vision by giving a Change Request to Cedara. Once a change is
initiated by Surgi-Vision, Cedara shall add a description of the following to the applicable Change Request: (i) the proposed changes to the Solution; (ii) any associated changes to the fees or estimated fees, and any changes to the dates
set out in the applicable SOW; and (iii) any other applicable terms and conditions. Surgi-Vision acknowledges that time required by Cedara to respond to Change Requests may cause delays in achieving milestones. 

 

	 	(b)	 Cedara may initiate a change to any Custom Engineering Services by giving Surgi-Vision a Change Request that includes a description of: (i) the
proposed changes to the Custom Engineering Services; (ii) any associated changes to the fees or estimated fees, and any changes to the dates set out in the applicable SOW; and (iii) any other applicable terms and conditions.

  

	 	(c)	 Once any Change Request is signed by both Parties, it becomes a “Change Order”. The changes set out in any Change Order shall
constitute amendments to this Agreement and any applicable SOWs. Subject to subsection (d) below, if any Change Request is not signed by both Parties within 10 days of its submission by either Party, it is deemed to be withdrawn. Subject to the
provisions of this Agreement, the Parties shall continue to be bound by the terms and conditions of any SOW made hereunder without regard to the provisions of any Change Request until such time as a Change Order is executed by both Parties.

  

	 	(d)	 If a Change Request is delivered by Cedara and indicates that the change(s) are related to unforeseeable deficiencies in the original
specifications, or errors on the part of the Surgi-Vision, and the Change Request is rejected by Surgi-Vision, Cedara may, in its sole discretion, either: 

 

	 	(i)	 immediately terminate the applicable SOW; or 

  

	 	(ii)	 complete the delivery of the SOW, provided that Surgi-Vision shall be deemed to have waived its rights to all warranties and support otherwise
applicable to any part of the Custom Engineering Services directly affected by the specified changes. 

  

	 	2.1.5	 Ongoing Management 

All disputes which may arise with respect to any matter related to any Custom Engineering Services shall, to the extent
possible, be resolved by the project managers for each Party, as soon as practicable and in any event within 10 Business Days of when it arises. If the project managers fail to resolve the dispute within 10 Business Days of when it arises, then
their respective supervisors or other senior executives designated by the Parties shall work to resolve 
  

 -4- 

 
the dispute, as soon as practicable and in any event within 10 Business Days of when it was referred to them. Each Party shall ensure that its representative for such discussions has the
necessary authority to resolve any dispute on behalf of that Party. 
  

	 	2.1.6	 Fees and Payment 

Surgi-Vision shall pay Cedara for Custom Engineering Services according to an [***]. Surgi-Vision shall also reimburse
Cedara for all pre-approved travel and living expenses incurred by Cedara that are necessary to enable Cedara to perform the Custom Engineering Services. Unless otherwise specified in the applicable SOW, Cedara shall invoice Surgi-Vision on a
monthly basis for Custom Engineering Services. 
  

	 	2.1.7	 [***] 

  

	2.2	 Licensing Terms and Conditions 

  

	 	2.2.1	 License Terms 

Cedara grants to Surgi-Vision a non-exclusive, worldwide license during the Term to use, make copies of, distribute,
market and sell licenses to the Cedara Software to End Users for use as an integrated component of the Solution and under Surgi-Vision’s trademarks and service marks, and to use the Documentation in support of the foregoing grant of rights.

  

	 	2.2.2	 Restrictions With Respect to Cedara Software 

The rights to the Cedara Software granted by Cedara to Surgi-Vision herein are subject to the following restrictions:

  

	 	(a)	 Surgi-Vision shall not modify, adapt, alter, translate, copy or otherwise use the Cedara Software or Documentation except as expressly permitted in
this Agreement; 

  

	 	(b)	 Surgi-Vision shall not attempt to reverse engineer, decompile, disassemble or otherwise render the Cedara Software into human readable form in order
to gain access to the source code in any way, or to produce any work derived from the Cedara Software; 

  

	 	(c)	 the Solution may only be distributed subject to the terms and conditions of an End User agreement as specified in Section 2.1.3, and, except as
otherwise expressly permitted in this Agreement, Surgi-Vision shall not transfer the rights granted to it under this Agreement; 

  

	 	(d)	 Surgi-Vision shall take all necessary measures to ensure that persons under its direction and control abide by the terms and conditions of this
Agreement; 

  

	 	(e)	 Surgi-Vision shall only represent the performance of the Cedara Software as stated in the most current Documentation provided to Surgi-Vision by
Cedara from time to time; and 

 [***] Indicates portions of this exhibit that have been omitted and filed
separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 
  

 -5- 

	 	(f)	 Surgi-vision shall obtain any governmental approvals required to discharge Surgi-Vision’s obligations in this Agreement. In addition,
Surgi-Vision shall obtain any required qualifications as soon as practicable under the applicable governmental requirements. Cedara agrees to use reasonable efforts to assist Surgi-Vision in obtaining such approvals or qualification and to institute
such design changes as may be required for such qualification. 

  

	 	2.2.3	 End User Agreements 

Surgi-Vision shall enter into an agreement with each End User, and shall include provisions in such agreement that are at
a minimum as protective to Cedara as the following: 
  

	 	(a)	 each license to the Solution shall be valid only for a single workstation identified by a serial number. The license may be transferred to another
identified workstation upon prior written consent of Cedara; 

  

	 	(b)	 End Users may use the Cedara Software only as integrated component of the Solution and strictly for their own internal business purposes, and may
not sell, rent, lease, license, time share or otherwise transfer or provide access to the Cedara Software to any third parties; 

  

	 	(c)	 End Users, may not reproduce, modify, adapt, alter, translate, reverse engineer, decompile, disassemble or otherwise render the Cedara Software into
human readable form in order to gain access to the Cedara Software source code in any way, or to produce any work derived from the Cedara Software or translate or create other versions of the Cedara Software; 

 

	 	(d)	 End Users shall not modify or remove any copyright or other proprietary rights notices in or on the Cedara Software or Documentation; and

  

	 	(e)	 Cedara shall have no liability to the End User for any express or implied warranties or any indirect, incidental, special or consequential damages.

 Surgi-Vision’s failure to enforce the terms of the End User agreement shall constitute
a breach of this Agreement 
  

	 	2.2.4	 License Fees and Minimum Commitment 

Surgi-Vision shall pay to Cedara a run-time license fee of [***] for each Solution distributed by Surgi-Vision, provided
that the [***] shall be at no charge. Surgi-Vision agrees to purchase a minimum of [***] licenses during the second year of this Agreement (in addition to the [***] granted at no charge) and [***] during each of the last 3 years of the initial Term
for an annual commitment during the second year of [***] and an annual commitment during each of the last 3 years of [***] (each, an “Annual Minimum Commitment”). Within 30 days following the end of each of the last 4 years of the
initial Term, Cedara will invoice Surgi-Vision for the difference, if any, between the actual license fees paid and the Annual Minimum Commitment for that year. 
  

	2.3	 Professional Services 

Surgi-Vision may purchase Professional Services for the fees set forth in Schedule B. 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant
to a request for confidential treatment. 
  

 -6- 

	2.4	 Training 

Cedara shall provide technical and applications training to Surgi-Vision which may require Surgi-Vision to send one or
more persons to Toronto, Canada. All training programs offered by Cedara are designed as “train-the-trainer” courses and are intended for deployment and application specialists as well as the first-line support staff. 

Surgi-Vision shall submit training requests to Cedara through the CustServ@cedara.com email address. 

The fees for training are set out in Schedule B. 

 

	3.	 PAYMENT TERMS 

  

	3.1	 Taxes 

Fees do not include applicable taxes or import duties. Surgi-Vision shall pay such taxes or duties either directly or when
invoiced by Cedara, or shall supply appropriate tax exemption certificates in a form satisfactory to Cedara. 
  

	3.2	 Payment 

Unless otherwise indicated, Cedara invoices shall be due and payable to Cedara within 15 days of receipt of invoice by
Surgi-Vision. Any undisputed payment not paid within such 15-day period shall bear interest from the date payment is due until paid at the lesser of either a monthly compounded interest rate of 1.5% (19.56% per annum) or the highest interest rate
allowed at law. If a dispute over an invoice is not resolved within 30 days of receipt of such invoice by Surgi-Vision, Cedara may suspend all services and licensing rights provided for under this Agreement until such dispute is resolved to the
mutual satisfaction of the Parties. Surgi-vision agrees to reimburse Cedara for all reasonable costs and expenses incurred by Cedara in enforcing payment. 

Payments are to be made by wire transfer or electronic payment through the Automated Clearing House (ACH) to Cedara
according to the terms specified herein, using all of the following banking information exactly as shown: 

First Deposit to: 

[***] 
  

 [***] Indicates portions of this exhibit that have been omitted and filed separately
with the Securities and Exchange Commission pursuant to a request for confidential treatment. 
  

 -7- 

 [***] 

Alternatively, payment can be made by Cheque payable to Cedara Software Corp. 

 

			
	 Cheques shall be mailed or couriered to:
	  	 Cedara Software Corp.

		  	 6509 Airport Road, Mississauga,

		  	 Ontario, L4V 1S7, Canada

		  	 Attention: Finance Department

 

	3.3	 Currency 

All monetary amounts in this Agreement shall be in US dollars, unless expressly stated to the contrary. 

 

	4.	 RECORDS AND AUDIT 

Surgi-Vision shall maintain written records (“Records”) of all copies made by Surgi-Vision of the Cedara
Software, or any portions thereof, and of all sublicenses of the Cedara Software and on written notice by Cedara, Surgi-Vision shall provide a copy of the Records to Cedara for inspection. 

Cedara shall have the right to direct a qualified agent to audit Surgi-Vision’s compliance with the terms of this
Agreement. The audit shall occur during normal business hours and at Cedara’s expanse, unless the audit reveals that Surgi-Vision is not in material compliance with this Agreement, in which case Surgi-Vision shall pay all expenses associated
with the audit and shall immediately pay to Cedara the fees for any unauthorized copies of the Cedara Software based on Cedara’s product transfer price list from the later of the date of the last audit or the Effective Date of this Agreement.

  

	5.	 PROPRIETARY RIGHTS 

  

	5.1	 Cedara Software 

The Cedara Software owned by or in possession of Cedara prior to the Effective Date or developed or acquired independent
of this Agreement during the Term, and any enhancements or modifications thereto or derivatives thereof, shall be owned exclusively by Cedara or its suppliers, as applicable, and except as expressly provided for in this Agreement, all rights, title
and interest therein are reserved by Cedara or its suppliers, as indicated by Cedara. 
  

	5.2	 Software Development 

Cedara acknowledges and agrees that any and all work product and intellectual property developed or created by Cedara at
the direction of Surgi-Vision and accepted by Cedara or otherwise using Surgi-Vision’s Confidential Information or intellectual property, that is developed specifically for Surgi-Vision and has unique application to the Surgi-Vision Technology
(“Surgi-Vision Work Product”), is the sole and exclusive property of Surgi-Vision and are “works made for hire” within the meaning of the United States Copyright Act of 1976, 17 U.S.C. $101 et seq. To the extent any
Surgi-Vision Work Product does not constitute a “work made for hire” under the United States Copyright Act, Cedara hereby irrevocably assigns, transfers and sets over absolutely to Surgi-Vision, and shall cause each of its employees to
assign to Surgi-Vision, all right, title and interest (whether now in existence or hereafter arising) in and to any Surgi-Vision 

 

 [***] Indicates portions of this exhibit that have been omitted and filed separately
with the Securities and Exchange Commission pursuant to a request for confidential treatment. 
  

 -8- 

 
Work Product and any intellectual property related thereto. For greater certainty, the Surgi-Vision Work Product shall not include any components of the Cedara Software. 

 

	6.	 TERM AND TERMINATION 

  

	6.1	 Term of the Agreement 

The initial term of this Agreement is for 5 years commencing on the Effective Date (the “Initial Term”).
Thereafter, this Agreement shall automatically renew for up to 3 successive periods of 12 months (each, a “Renewal Term”), unless Surgi-Vision gives written notice to Cedara of its intention not renew a minimum of 30 days prior to
the expiry of the Initial Term or the then current Renewal Term, as applicable, provided that Cedara may amend the Custom Engineering Services fees and/or Professional Services fees during any Renewal Term with a minimum of 30 days prior written
notice to Surgi-Vision. The Initial Term and any Renewal Terms shall collectively comprise the “Term. 
  

	6.2	 Termination 

  

	 	6.2.1    	 Termination for Cause 

Notwithstanding the foregoing provisions of Section 6.1, this Agreement and any SOW made hereunder may be terminated
immediately by either Party if: 
  

	 	(a)	 the other Party ceases to carry on business in the normal course, becomes or is declared insolvent or bankrupt, is subject to any proceeding
relating to its liquidation, insolvency or for the appointment of a receiver or similar officer for it, makes a general assignment for the benefit of all or substantially all of its creditors, or enters into an agreement for the composition,
extension or readjustment of all or substantially all of its obligations; or 

  

	 	(b)	 the other Party breaches any material obligation under this Agreement and such breach has continued uncured for a period of 20 days after receiving
written notice of the breach. 

  

	 	6.2.2    	 Procedure on Termination 

Upon expiration or termination of this Agreement for any reason: 

 

	 	(a)	 Surgi-Vision shall promptly cease representing, quoting, selling, sublicensing or otherwise using the Cedara Software (including as part of the
Solutions); 

  

	 	(b)	 Surgi-Vision shall promptly return to Cedara all copies of the Cedara Software. Documentation or data originally provided by Cedara and which are
the property of Cedara; 

  

	 	(c)	 Surgi-Vision shall pay all outstanding invoices or amounts owing to Cedara which shall become immediately due and payable on notice of termination:
and 

  

	 	(d)	 Cedara shall deliver any specifications, designs, technical materials and other instructions developed or provided by Surgi-Vision to Cedara, which
the parties acknowledge and agree are exclusively owned by Surgi-Vision. 

  

 -9- 

 Termination and the foregoing remedies shall be in addition to, and not in
lieu of, any other remedies that either Party may have at law or in equity and shall not relieve either Party of liability for any breach of contract occurring prior to the effective date of termination. 

 

	 	6.2.3	     Non- Termination of End User Licenses 

Notwithstanding the termination or expiry of this Agreement, all End User licenses granted by Surgi-Vision prior to such
termination or expiry shall continue to be in full force and effect, subject to their terms. 
  

	7.	 BRANDING 

Surgi-Vision shall market the Solutions using its own trademarks, logos, symbols, designs and other designations or
brands. Notwithstanding the foregoing, Surgi-Vision shall not alter, remove or obscure any Cedara copyright, trade-mark or other proprietary rights notices which are incorporated in or on the Cedara Software or Documentation. 

 

	8.	 INDEMNITIES 

  

	8.1	 Intellectual Property Rights Indemnities 

Cedara shall defend, indemnity and hold harmless Surgi-Vision, and its directors, officers, employees, contractors, agents
and suppliers, from any claims, losses, damages, penalties, judgments and liabilities, including all reasonable related costs and expenses, arising in connection with any action or claim that the Cedara Software infringes any Canadian or United
States patent or any other intellectual property and/or proprietary right of a third party, provided that (i) Surgi-Vision cooperates with Cedara’s reasonable requests for assistance in the defence; and (ii) Cedara controls the
defence, negotiation and settlement of any such claim; provided, that Cedara shall not settle or compromise any claim that would adversely affect the rights of Surgi-Vision without the prior written consent of Surgi-Vision, such consent not to be
unreasonably withheld. 
  

	8.2	 Surgi-Vision Remedies 

In addition to any and all remedies provided under Section 8.1 above, it Surgi-Vision cannot use the Cedara Software
because a court of final appeal has held that its use constitutes an infringement of a third party’s intellectual property rights, Cedara shall, in its sole discretion and as Surgi-Vision’s sole recourse, provide Surgi-Vision with one of
the following remedies: 
  

	 	(a)	 without impairing Cedara Software functionality or performance in any material adverse way, (i) modify the infringing portion of the Cedara
Software so that it is non-infringing or (ii) replace the Cedara Software with equally suitable, non -infringing components; or 

  

	 	(b)	 procure for Surgi-Vision the right to continue to use the infringing Cedara Software. 

 

	8.3	 Exclusion 

Cedara shall have no liability to Surgi-Vision with respect to any claim of intellectual property rights infringement
caused by (i) Surgi-Vision’s modifications to the Cedara Software or combination of the Cedara Software with non-Cedara products; (ii) Surgi-Vision’s continued use of the infringing Cedara Software after having been notified of
the alleged infringement; (iii) Surgi- 
  

 -10- 

 
Vision’s failure to use modifications to the Cedara Software supplied by Cedara that would have avoided the infringement; or (iv) modifications made to the Cedara Software by any person
or entity other than Cedara or by Cedara at the Surgi-Vision’s directions or specifications. 
  

	8.4	   Distribution of Solutions 

Surgi-Vision agrees to defend, indemnify and hold harmless Cedara and its affiliates, and each of their respective
directors, officers, employees, contractors, agents and suppliers, from any claims, liabilities or damages, and related costs and expenses, arising out of or related to Surgi-Vision’s use or distribution of the Cedara Software that is in breach
of the terms and conditions of this Agreement or any claim that the Surgi-Vision Technology infringes any Canadian or United States patent or any other intellectual property and/or proprietary right of a third party, provided that (i) Cedara
cooperates with Surg-Vision’s reasonable requests for assistance in the defence; and (ii) Surgi-Vision controls the defence, negotiation and settlement of any such claim; provided, that Surgi-Vision shall not settle or compromise any claim
that would adversely affect the rights of Cedara without the prior written consent of Cedara. such consent not to be unreasonably withheld. 
  

	8.5	   Notice 

Each Party shall promptly provide the other with written notice of any claim or information that might lead to a claim for
indemnity under this Section 8. Failure by the Party seeking indemnity to notify the indemnifying Party of such claim or information, which results in the indemnifying Party being materially prejudiced, shall relieve the Indemnifying Party of
its liability under this indemnity provision. 
  

	9.	   NON- SOLICITATION 

Until this Agreement is terminated, and for a period of 1 year following, neither Party shall hire, employ, retain or
solicit any person who is an employee, officer, director of full-time independent contractor of the other Party and who, but for this Agreement, would otherwise be unknown to that Party. The Parties acknowledge that in view of the recruitment
difficulties, costs of training staff in the computer industry and the highly sensitive nature of Intellectual property rights of both Parties, this restriction is reasonable. 

 

	10.	   LEGAL RISK MANAGEMENT 

  

	10.1	   Advisory Device 

IN CIRCUMSTANCES WHERE THE CEDARA SOFTWARE SHIPPED TO SURGI-VISION HAS NOT BEEN MADE COMMERCIALLY GENERALLY AVAILABLE
(“PRE-GMA”) (FOR EXAMPLE, EVALUATION SOFTWARE PRODUCTS), SURGl-VISION ACKNOWLEDGES AND AGREES THAT SUCH PRE-GMA CEDARA SOFTWARE HAS NOT BEEN TESTED OR APPROVED FOR COMMERCIAL OR OPERATIONAL RELEASE OTHER THAN FOR CLINICAL EVALUATION (WHERE
APPLICABLE) IN A CONTROLLED ENVIRONMENT AND THAT IT IS TO BE USED FOR EVALUATION PURPOSES ONLY WITH THE HIGHEST POSSIBLE STANDARD OF CARE. 

SURGI-VISION ACKNOWLEDGES THAT THE CEDARA SOFTWARE AND THE SOLUTION ARE ADVISORY DEVICES AND NOT DESIGNED TO SUBSTITUTE
FOR THE PRIMARY DEFENCES AGAINST DEATH OR INJURY DURING SURGICAL, MEDICAL LIFE SUPPORT OR OTHER POTENTIALLY HAZARDOUS APPLICATIONS WHICH SHALL CONTINUE TO BE 

 

 -11- 

 
THE SKILL, KNOWLEDGE AND EXPERIENCE OF THE USERS OF THE CEDARA SOFTWARE AND SOLUTION. 
  

	10.2	   Notice to End-Users 

SURGI-VISION AGREES THAT IT SHALL NOT USE, MARKET, DISTRIBUTE OR RESELL THE CEDARA SOFTWARE OR SOLUTION AS A SUBSTITUTE
FOR THE DEFENCES IDENTIFIED ABOVE IN THIS SECTION 10 OR WITH UNAPPROVED DICOM CONNECTIONS. SURGI-VISION SHALL PROVIDE END USERS WITH A PROMINENT NOTICE, IN THEIR LOCAL LANGUAGE, TO THAT EFFECT. 

 

	10.3	   Legal Risk Management 

EACH OF THE PARTIES AGREES THAT THE LIMITATIONS OF LIABILITY SET OUT IN THIS SECTION ARE FAIR AND REASONABLE IN THE
COMMERCIAL CIRCUMSTANCES OF THIS AGREEMENT AND THAT IT WOULD NOT HAVE ENTERED INTO THIS AGREEMENT BUT FOR THE OTHER PARTY’S AGREEMENT TO LIMIT ITS LIABILITY IN THE MANNER, AND TO THE EXTENT, PROVIDED FOR HEREIN. SAVE AND EXCEPT FOR CLAIMS
ARISING FROM BREACH OF RESTRICTIONS ON USE AND DISTRIBUTION OF THE CEDARA SOFTWARE, BREACH OF THE PAYMENT OBLIGATIONS, BREACH OF THE CONFIDENTIALITY OBLIGATIONS OR CLAIMS FOR WHICH AN INDEMNITY HAS BEEN PROVIDED UNDER THIS AGREEMENT, GROSS
NEGLIGENCE, FRAUD, OR WILLFUL OR INTENTIONAL MISCONDUCT, THE PARTIES AGREE THAT EACH OF THE PARTIES’ AND THEIR RESPECTIVE SUPPLIERS’ LIABILITY TO THE OTHER FOR ANY AND ALL DIRECT, COMPENSATORY LOSS OR DAMAGES, UNDER ANY THEORY OF LAW OR
EQUITY, WHETHER FOR BREACH OF CONTRACT, TORT OR OTHERWISE, ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT OR THE INTENDED FULFILLMENT OF ANY OF ITS OBLIGATIONS UNDER THIS AGREEMENT, SHALL BE STRICTLY LIMITED IN THE AGGREGATE TO $1,000,000.
IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY LOSS OR INJURIES TO EARNINGS, PROFITS OR GOODWILL, OR FOR ANY INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY PERSON OR ENTITY WHETHER ARISING IN CONTRACT, TORT OR
OTHERWISE, EVEN IF EITHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS SECTION SHALL APPLY EVEN IN THE EVENT OF A BREACH OF CONDITION, A BREACH OF AN ESSENTIAL OR FUNDAMENTAL TERM. OR AN ESSENTIAL OR FUNDAMENTAL BREACH OF THIS
AGREEMENT. 
  

	10.4	   Exclusion 

THE OBLIGATIONS OF CEDARA EXPRESSLY STATED IN THIS AGREEMENT ARE IN LIEU OF ALL OTHER WARRANTIES OR CONDITIONS EXPRESS
OR IMPLIED. WITHOUT LIMITATION, TO THE FULLEST EXTENT ALLOWABLE BY LAW, THIS EXCLUSION OF ALL OTHER WARRANTIES AND CONDITIONS EXTENDS TO IMPLIED WARRANTIES OR CONDITIONS OF SATISFACTORY QUALITY, MERCHANTABLE QUALITY AND FITNESS FOR A PARTICULAR
PURPOSE, AND THOSE ARISING BY STATUTE OR OTHERWISE IN LAW, OR FROM A COURSE OF DEALING OR USAGE OF TRADE. CEDARA MAKES NO GUARANTEES REGARDING NON-INFRINGEMENT OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS OR THAT USE OF THE CEDARA SOFTWARE WILL BE
UNINTERRUPTED OR ERROR FREE. 
  

 -12- 

	11.	   CONFIDENTIALITY 

  

	11.1	   Definition 

In this Section. “Confidential Information” means all information that the disclosing Party designates as
confidential or which ought to be considered as confidential from its nature or from the circumstances surrounding its disclosure, including without limitation all regulatory, commercial, financial, administrative and technological information of
either Party and any information concerning this Agreement, but does not Include information which: 
  

	 	  (a)	 is known to the receiving Party before receipt from the other Party, as substantiated by cogent and reliable evidence; 

 

	 	  (b)	 is disclosed to the receiving Party in good faith by a third party who had a right to make such disclosure; 

 

	 	  (c)	 is made public by the originating Party, or is established to be a part of the public domain otherwise than as a consequence of a breach by the
receiving Party of Its obligations hereunder; or 

  

	 	  (d)	 can be substantiated, based on cogent and reliable evidence, to have been independently developed by the receiving Party.

  

	11.2	   Limited Use 

All Confidential Information of each Party shall be used by the other Party strictly and only for the purposes in this
Agreement. 
  

	11.3	   Reasonable Care 

Each Party shall hold all Confidential Information of the other Party in confidence strictly for. and on behalf of the
other Party and treat the Confidential Information of the other Party as it does its own valuable and sensitive information of a similar nature and, in any event, with not less than a reasonable degree of care. 

 

	11.4	   Obligations of the Parties 

Each Party shall have an obligation to prevent the other Party’s Confidential Information in its possession or
control from being misappropriated, or wrongfully communicated by any employee, consultant or other person under the obliged Party’s control. If the receiving Party is required by a court or government authority to disclose Confidential
Information, the receiving Party shall provide the disclosing Party with prompt notice, including the circumstances of such requirement, so that the disclosing Party may seek an appropriate protective order, and shall reasonably cooperate with the
disclosing Party in an action by the disclosing Party to obtain an appropriate protective order. Upon termination of this Agreement, the Parties shall promptly return or destroy the other Party’s Confidential Information. 

 

 -13- 

	12.	   GENERAL 

  

	12.1	   Governing Law 

The construction, validity and performance of this Agreement shall be governed by the laws of the State of New York
without reference to conflict of laws principles. 
  

	12.2	   Sale of Goods Act 

This Agreement shall not be governed by either the provisions of the International Sale of Goods Act or the United
Nation’s Convention for Contracts on the International Sale of Goods, regardless of that Convention’s legal or statutory adoption by any jurisdiction. 
  

	12.3	   Assignment 

Neither party may assign or otherwise transfer rights or obligations under this Agreement whether in whole or in part,
except with the prior written consent of the other party. Notwithstanding the foregoing, either party may assign this Agreement in its entirety in the event of a merger, change of control, corporate reorganization, or a sale of all or substantially
all of the assets of such party. 
  

	12.4	   Notices 

Any notices provided for under this Agreement shall be deemed received when delivered in person, on the first Business Day
following electronic transmission by facsimile or five (5) days after being mailed by registered mail or reputable courier service: 

To Cedara: 

Cedara Software Corp. 

6509 Airport Road 

Mississauga. Ontario 

L4V 1S7 CANADA 

Fax: (905) 671-7955 

Attention: VP Sales 

To Surgi-Vision: 

Surgi-Vision, Inc. 

1101 East
33rd Street, Suite B307 

Baltimore, Maryland 

21218l USA 

Fax; (901) 579-4979 

Attention: Kimble L. Jenkins 
  

	12.5	   Public Notices 

The Parties agree to issue a press release publicizing this Agreement subject to mutual agreement, to be evidenced in
writing, on appropriate content and timing of said release. Subject to the foregoing, neither Party will use the other Party’s name in any publicity, publication, 

 

 -14- 

 
announcement, marketing or press release or otherwise make use of its association with the other Party or this Agreement, without the other Party’s written consent. 

 

	12.6	   Case Study 

Upon Surgi-Vision’s prior written consent in each Instance, Cedara may devise a case-study of any Custom Engineering
Services Projects, and may use such case-study for marketing of its engineering services to third parties. 
  

	12.7	   Entire Agreement 

This Agreement, including the Schedules listed below and any Statements of Work made hereunder, constitutes the entire
agreement between the Parties pertaining to the subject matter hereof and supersedes all prior agreements and understandings, collateral, oral, or otherwise. No modification of this Agreement shall be binding upon the Parties to this Agreement
unless in writing and executed by an authorized signing officer for each of the Parties. 
 In the event of
conflict or inconsistency between the provisions of this Agreement and any of the Schedules or Statements of Work made hereunder, or any other document incorporated by reference herein, the terms of this Agreement shall prevail, unless in the case
of any Statement of Work, the Parties expressly state that any terms contained therein are to prevail over any inconsistent terms contained in the provisions of this Agreement. 

The Schedules to this Agreement Are: 

Schedule A: Statement of Work No. 1 

Schedule B: Professional Services 
  

	12.8	   Amendments 

Any amendment or modification of any provision of this Agreement must be in writing, dated and signed by a duty authorized
representative of each Party hereto. 
  

	12.9	   Successors and Assigns 

All successors, receivers, managers, trustees and permitted assigns of the Parties shall be bound by the rights and
liabilities set out in this Agreement. 
  

	12.10	   Force Majeure 

Neither Party shall be liable for any failure or delay in its performance under this Agreement due to causes of force
majeure, including without limitation, tires, floods, storms, earthquakes, civil disturbances, or labour matters, provided that Surgi-Vision shall continue to be obligated to pay any fees that have accrued up until the event of force majeure.
If a party is so delayed or prevented from performing its obligations under this Agreement for a period of thirty (30) consecutive days, the other party shall have the immediate right to terminate this Agreement at the end of such thirty
(30) consecutive-day period, without any right of cure on the party so delayed. 
  

 -15- 

	12.11	   Amicable Resolution 

All controversies or claims arising out or relating to this Agreement, or any breath thereof, shall be finally settled
amicably, if possible, by negotiation between the Parties. 
  

	12.12	   No Waiver 

No failure on the part of any Party to this Agreement to exercise, and no delay in exercising any right, power or single
or partial exercise of any right, power or remedy by any Party shall preclude any other or further exercise thereof of the exercise of any other right, power or remedy. 

 

	12.13	   Counterparts and Delivery 

This Agreement may be executed in several counterparts, each of which so executed shall be deemed to be an original, and
such counterparts together shall constitute but one and the same instrument. Delivery of this Agreement by fax shall constitute valid and effective delivery. 
  

	12.14	   Severability 

If any provision of this Agreement is declared invalid or unenforceable by a court of competent jurisdiction, that
provision shall bo deemed to be severed from the Agreement, and the remaining provisions shall not be affected. 
  

	12.15	   Legal Relationship 

The Parties to this Agreement are independent contractors and separate entities. No other legal relationship is intended
or implied. Except as specifically specified in this Agreement, neither Party shall be responsible for acts of the other Party or its agents or employees and neither Party shall assume or create any obligation in the name of or on behalf of the
other Party. 
  

	12.16	   Export Control 

Surgi-Vision agrees to comply with the export laws and regulations of Canada and the United States of America in
exercising the rights granted to it under this Agreement in respect of the Cedara Software. 
  

	12.17	   Survival 

Sections 1, 3, 4, 5, 6.2.2, 6.2.3, 8, 9, 10, 11 and 12 shall survive termination of this Agreement. 

 

 -16- 

 IN WITNESS WHEREOF the Parties hereto have executed this Agreement by their duly
authorized representatives. 
  

			
	 SURGI-VISION INC:
	  	 CEDARA SOFTWARE CORP:

		
	 /s/ Kim Jenkins
	  	 /s/ Antonia Wells

		
	 Signature
	  	 Signature

		
	 KIM JENKINS
	  	 ANTONIA WELLS

		
	 Name
	  	 Name

		
	 Pres / CEO
	  	 U.P. CUSTOMER OPERATIONS

		
	 Title
	  	 Title

		
	 July 20, 2007
	  	 July 20, 2007

		
	 Date
	  	 Date

  

 -17- 

 SCHEDULE A 

STATEMENT OF WORK NO.1 

This Statement of Work is entered into pursuant to and forms part of the Master Services and Licensing Agreement between Cedara Software
Corp. and Surgi-Vision Inc. effective July 20, 2007 (the “Agreement”). Capitalized terms used in this Statement of Work and not otherwise defined herein shall have the meanings assigned to them in the Agreement. In the event of
conflict or inconsistency between the terms of this Statement of Work and the Agreement, the terms of this Statement of Work shall prevail. 

Introduction 
 This
Statement of Work No. 1 describes the objectives and deliverables of the initial development phase (Phase 1) for the Solution. 
 Goals 

 The objective of Phase 1 is to investigate Surgi-Vision’s needs and requirements, and to develop a detailed specification
and project plan for the ensuing project phases pursuant to the following planning guidelines: 
  

	 	1.	 A development phase, including alpha and beta periods, for the first version extending from the end of this Phase 1 to March 31st 2008.

  

	 	2.	 A rapid prototyping phase extending from 1st April 2008 to June 30th 2008 for the purposes of responding to feedback and making follow-on
software releases. 

  

	 	3.	 To investigate and plan using the preliminary list of requirements given below: 

 
 [***] 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant
to a request for confidential treatment. 
 
 Activities

  

	 	•	 	 Consultation. Discuss and consult with Surgi-Vision to understand Surgi-Vision’s business goals; Surgi-Vision’s interventional procedure,
interventional devices and hardware, clinical workflow, imaging integration needs, and end-user needs, Cedara staff may visit Surgi-Vision’s offices or collaborating clinical sites as mutually agreed and as may be helpful to these goals,

  

	 	•	 	 Prototypes. During Phase 1 Cedara staff may develop mock-ups, prototypes, or demonstrators as they determine may best help achieve the goals of the
phase. 

 Deliverables 

The purpose of Phase 1 is to develop a detailed specification and project plan: 

[***] 
 Duration

 Phase 1 is expected to be completed within 2 months of the Effective Date of the Agreement, 

AGREED: 
  

			
	 SURGI-VISION INC:
	  	 CEDARA SOFTWARE CORP;

		
	 /s/ Kim Jenkins
	  	 /s/ Antonia Wells

		
	 Signature
	  	 Signature

		
	 KIM JENKINS
	  	 ANTONIA WELLS

		
	 Name
	  	 Name

		
	 Pres / CEO
	  	 V.P. CUSTOMER OPERATIONS

		
	 Title
	  	 Title

		
	 July 20, 2007
	  	 July 20, 2007

		
	 Date
	  	 Date

 [***]
Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 

 -18- 

 SCHEDULE B 

PROFESSIONAL SERVICES SCOPE AND FEE SCHEDULE 
  

									
	 
	Professional Services

	 				 
	Consulting	 	Presales	 	Implementation	 	Connectivity &
integration	 	Training
	
Technical

- Site Survey

  Assessment

- Develop

  Architecture Design

- Reengineering

  Technical Workflow

- Cost/benefits

  analysis
	 	 Sales

- Demo
 - Sales support

- Reference Site Setup
 - Demo Licenses

	 	 Project Management

- Implementation Plan
 - Training
Plan
 - Acceptance Criteria
	 	 Connectivity

- Scanner DICOM V &

  V
 - Printer V &V

- Acceptance Plan &
   Testing

 - Networking
 - Node setup
&
   configuration
	 	 Techincal

- Installation &

Continuation

- Troubleshooting

	
Clinical

- Needs Analysis

- Reengineering

  Clinical Workflow

- HIPPA requirements

- Cost/benefits

  analysis
	 	 	 	 Installation & Configuration

- On site Technical

- On site Applications

- Pre-staging site
	 	 Integration

- HIS/RIS - PAC’s

  interface
 - 3rd Party
Application
   Integration

- System Engineering
   Services

	 	 Application

- Instruction &

Configuration
 - Viewing
Protocols
 Advanced 2D
 Functionality

 - Clinical Packages 3D

Ortho

	 	 	 	 	 Scalability

- Product upgrades
 - System upgrades

 - Hardware upgrades
	 	 	 	 Sales

- Applications
 - Production

Positioning
 Refresher Web

- Technical updates &

upgrades
 - Application updates

& upgrades
 -Sale
updates

	  

Pricing

- [***] per day

- Travel days included as part of daily rate

 
 Default Hourly Rates -9x5
EST
 - [***] per hour

 
 Default overtime Rates

- [***] per hour

- 5:00 PM to 8:00 AM; Weekends & Holidays
	 	  

Pricing
 [***] per day

Travel days included in
 day rate

 Capacity/Facility

Max 6 person(s) attend

once
 Cedara’s Training

facility
  

See notice for more

information

	
Notice:
  

- A Cancellation Surcharge of [***] will be applied to any support request cancelled without (7) Business Days notice. In
addition any un-recoverable expenses arising due to the cancellation will be the responsibility of Surgi-Vision.
  

- Travel, accommodation & extraordinary expenses are the responsibility of Surgi-Vision unless otherwise agreed to by
Cedara.

 [***] Indicates portions of this exhibit that have been
omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 
  

 -19- 

 SCHEDULE C 

STATEMENT OF WORK NO. 2 

2009-02573 
 SOW
for CED solution for SurgiVision 

MERGE
TM
 
 Healthcare 

STATEMENT OF WORK NO.2 

This Statement of Work No.2 is entered into pursuant to and forms part of the Master Services and Licensing Agreement between Cedara Software Corp. d/b/a
Merge OEM and Surgi-Vision Inc. effective July 20, 2007 (the “Agreement”). Capitalized terms used in this Statement of Work and not otherwise defined herein shall have the meanings assigned to them in the Agreement. In the event of
conflict or inconsistency between the terms of this Statement of Work and the Agreement, the terms of this Statement of Work shall prevail. 

1 Project Scope 
 1.1
Background and Requirements 
 Merge has recently built an MRi based deep brain navigation package for
SurgiVision that is marketed under the ClearPoint trade mark. The ClearPoint solution is used for planning and placement of electrodes into deep brain structures. 

In an effort to expand the offerings in this sector, SurgiVision is exploring new areas of deep brain surgical navigation, drug delivery
applications in particular. This statement of work presents the details associated with the development activities needed to deliver such a solution. 

[***] 
 This
document is prepared to outline the scope of work, deliverables and schedules for the development work needed to create a tool that could aid in the navigation and tracking component associated with this procedure. 

1.2 Solution and Scope of Work 

The solution is expected to contain multiple phases: 
  

	 	•	 	 Prototype phase –[***] 

  

	 	•	 	 Enhanced phase – [***] 

  

	 	•	 	 Wide market solution – [***] 

  

	 	•	 	 Improvements – [***] 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant
to a request for confidential treatment. 
 
 [***]

 1.3 Implementation model 

The solution will be licensed using a node locked licensing model similar to the current ClearPoint solution where installations will
require a MAC address specific license file that can be generated on demand. 
 The solution presented in this SOW is scoped out
to be developed using a team of: 
  

	 	i.	 One full time Merge OEM engineer, 

  

	 	ii.	 One part time Merge OEM segmentation expert - on demand, 

 

	 	iii.	 One full time architect, 

  

	 	iv.	 One full time test resource for the test and validation phase 

 

	 	v.	 10% part time project manager. 

  

	 	vi.	 5% part time system administrator responsible for release activities 

The solution includes complete development, documentation and engineering validation activities. Product validation activities (Alpha and
Beta) are not included in this scope because of the unknowns associated with the timing and potential regulatory requirements associated with the market launch of this product. 

2 Deliverables 
  

			
	Deliverable	  	Description

 [***] 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant
to a request for confidential treatment. 
 
 3 Assumptions

 [***] 
 4
Delivery schedule 
 4.1 Delivery Schedule for Prototype Solution 

Project Duration: [***] 

Delivery Schedule: 
  

			
	Timeline	  	Deliverable

 [***] 

4.2 Delivery Schedule for additional solutions 

Project Duration: [***] 

Delivery Schedule: 
  

			
	Timeline	  	Deliverable

 [***] 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant
to a request for confidential treatment. 
 
 5 Summary

 5.1 Standard Solution: 
  

	 	•	 	 estimated effort: [***] 

  

	 	•	 	 estimated project duration: [***] 

5.2 Additional Solutions: 
  

	 	•	 	 estimated additional effort: [***] 

  

	 	•	 	 estimated project duration: [***] 

Note: 

The estimate is based on correctness of the assumptions made above, if these are not correct, the price and/or delivery
dates might be affected 
 6 Fees and Pricing Summary 

6.1 Consulting Engineering Fees 

The project is proposed to be executed on a time and materials basis at [***] to be invoiced on a monthly basis. 

6.2 Payment Schedule 

Monthly billing of the actual time spent on the project. 

6.3 Run-Time License fees 

Quotes for run-time licenses associated with the resulting application will need to be negotiated before the product will be market
launched. 
 6.4 Professional Services 

Additional services required by SurgiVision for installation, training and onsite technical support shall be provided in accordance with
the Agreement at a rate of [***] not including travel and accommodation. Professional Services will be billed within the same calendar quarter as they are provided. 

AGREED: 
  

					
	 SURGI-VISION INC.:
	 		 	 CEDARA SOFTWARE CORP. D/B/A

MERGE OEM:

			
	
                  /s/ Peter
Piferi
	 		 	
                  /s/ Justin
Dearborn

	 Signature
	 		 	 Signature

			
	
                  Peter Piferi

	 		 	
                  Justin
Dearborn

	 Name
	 		 	 Name

			
	
                  
COO
	 		 	
                 
 CEO

	 Title
	 		 	 Title

			
	
                  
11-13-09
	 		 	
                 
 11-16-09

	 Date
	 		 	 Date

 [***] Indicates
portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 

 -20-

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