Document:

Exhibit
10.4

 

“Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) the type that the registrant treats as private or confidential.”

 

MASTER
RESEARCH SERVICES AGREEMENT

 

THIS
AGREEMENT is made on the...5th..day of December 2019

 

BETWEEN

 

MONASH
UNIVERSITY (ABN 12 377 614 012) of Wellington Road, Clayton, Victoria 3800

(Monash)

 

AND

 

MYHYPO
PTY LTD (ABN 31 619 501 254) of 647 Glenhuntly Road, Caulfield, Victoria 3162

 

(MyHypo)

 

 

BACKGROUND

 

		A.	MyHypo
                                            wishes to engage Monash to provide the Research Services described in each Statement of Work
                                            in accordance with the terms of this Agreement. 

 

		B.	Monash
                                            agrees to perform the Research Services on the terms of this Agreement.

 

IT
IS AGREED AS FOLLOWS:

 

		1.	Definitions

 

In
this document unless expressed or implied to the contrary:

 

Australian
Sanctions Law means any law prohibiting or restricting dealings with proscribed states, persons or entities or seeking to prevent
the proliferation of weapons, including but not limited to laws implementing the sanctions imposed by the United Nations Security Council.

 

Background
IP means Intellectual Property owned or controlled by a Party at the Commencement Date or created or acquired independently of this
Agreement, that a Party makes available for the performance of the Research Services, and includes Improvements and any Background IP
specified in a Statement of Work.

 

Business
Day means Monday to Friday excluding public holidays in Victoria.

 

Commencement
Date means the date specified as such in Schedule 1.

 

Completion
Date means the date specified as such in Schedule 1.

 

Confidential
Information means information disclosed to a Party (Receiving Party) in any material form by the other Party (Disclosing
Party) in relation to the Research Services which is by its nature confidential, which is designated by the Disclosing Party as confidential,
or which the Receiving Party knows or ought to know is confidential, but does not include (or, as the case requires, ceases to include)
information which:

 

		(a)	is
                                            in the public domain at the time of disclosure;

 

		(b)	is
                                            published or otherwise becomes part of the public domain through no fault of the Receiving
                                            Party;

 

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		(c)	was
                                            in the possession of the Receiving Party at the time of disclosure without an obligation
                                            of non-disclosure to the Disclosing Party;

 

		(d)	is
                                            received from a third party without an obligation of non-disclosure;

 

		(e)	is
                                            independently created by or on behalf of the Receiving Party by persons who had no knowledge
                                            of the Confidential Information; or

 

		(f)	is
                                            required to be disclosed by law.

 

Deliverables
means the deliverables specified in Item 1B of each Statement of Work.

 

Developed
IP means Intellectual Property created or developed by or on behalf of Monash in the course of performing the Research Services,
including the Deliverables, but expressly excluding Background IP.

 

Discloser
means a Party disclosing Confidential Information to the other Party under this Agreement.

 

Expenses
means those expenses specified in Item 7 of each Statement of Work.

 

Force
Majeure Event has the meaning given in clause ‎17.

 

GST
means GST as defined in the A New Tax System (Goods and Services Tax) Act 1999 (Cth) as amended (GST Act) or any replacement
or other relevant legislation and regulations.

 

Insolvency
Event means any of the following events:

 

		(a)	a
                                            party, being an individual, commits an act of bankruptcy;

 

		(b)	a
                                            party becomes insolvent;

 

		(c)	a
                                            receiver, receiver and manager, administrator, controller, provisional liquidator or liquidator
                                            is appointed to a party or a party enters into a scheme of arrangement with its creditors
                                            or is wound up;

 

		(d)	a
                                            party assigns any of its property for the benefit of creditors or any class of them;

 

		(e)	an
                                            encumbrancer takes any step towards taking possession or takes possession of any assets of
                                            a party or exercises a power of sale; or

 

		(f)	a
                                            distress, attachment or other execution is levied or enforced against a party in excess of
                                            $10,000.00.

 

Improvements
means any improvements, enhancements, modifications, adaptations, extensions, developments, mutations, application of Background
IP, and all other technical advances made by or on behalf of Monash to Background IP, whether or not protected by statute, in the course
of providing the Research Services.

 

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Intellectual
Property means all rights resulting from intellectual activity whether capable of protection by statute, common law or in equity
and including copyright, discoveries, inventions, patent rights, registered and unregistered trademarks, design rights, circuit layouts
and plant varieties and all rights and interests of a like nature, together with any and all documentation relating to such rights and
interests.

 

Item
means an item in the Statement of Work.

 

Milestones
means the milestones specified in Item 1C of each Statement of Work.

 

Party
means Monash or MyHypo and Parties means both of them.

 

Personal
Information means ‘personal information’ as defined in the Privacy and Data Protection Act 2014 (Vic) and ‘health
information’ as defined in the Health Records Act 2001 (Vic).

 

Recipient
means a Party receiving Confidential Information from the other Party under this Agreement.

 

Schedule
means a Schedule annexed to and forming part of this Agreement.

 

Research
Services means the services specified in Item 1A of each Statement of Work.

 

Services
Fee means the amount specified in Item 5 of each Statement of Work calculated in accordance with the Services Rate.

 

Services
Rate means the rate for the provision of the Research Services specified in Item 5 of Schedule 1.

 

Specified
Persons means those persons specified in Schedule 1.

 

Statement
of Work means a document in the form set out in Schedule 2 which details the specific Research Services to be performed and which
has been executed by both parties.

 

Term
means that period of time described in clause ‎2.1.

 

		2.	Term

 

		2.1	This
                                            Agreement commences on the Commencement Date and will continue until the Completion Date
                                            unless extended under clause ‎2.2 or terminated earlier under clauses ‎5.2 or ‎18.

 

		2.2	This
                                            Agreement may be extended by mutual agreement of the parties in writing.

 

		3.	Performance
                                            of Services

 

		3.1	Monash
                                            will provide the Research Services pursuant to individual Statements of Work from time to
                                            time developed and agreed by MyHypo and Monash during the Term. Each Statement of Work will
                                            only be binding on both Parties when signed by both Parties.

 

		3.2	In
                                            relation to each Statement of Work agreed and executed in accordance with clause ‎3.1,
                                            Monash will provide: 

 

		(a)	the
                                            Research Services described in Item 1A; and

 

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		(b)	the
                                            Deliverables described in Item 1B, of that Statement of Work in accordance with the Milestones
                                            specified in Item 1C of that Statement of Work from the Start Date in Item 2 of that Statement
                                            of Work until the End Date in Item 3 of that Statement of Work.

 

		3.3	Monash
                                            will provide the Research Services in a proper and professional manner and with all due care,
                                            skill and diligence.

 

		3.4	Monash
                                            will supply all personnel, equipment, materials and other things necessary to perform the
                                            Research Services excepting only those items expressed in Item 4 of each Statement of Work
                                            to be supplied by MyHypo (MyHypo Items). Monash will return or destroy (at MyHypo’s
                                            election) all MyHypo Items upon completion of the Research Services under each Statement
                                            of Work.

 

		3.5	In
                                            relation to each Statement of Work, MyHypo acknowledges agrees that to the extent that Monash
                                            is unable to perform the Research Services specified in that Statement of Work, or there
                                            is a change in the scope of the Research Services specified in the Statement of Work, due
                                            to any act or omission of MyHypo or any Force Majeure Event, Monash may, acting reasonably,
                                            propose amendments to the Statement of Work, including the Services Fee. Monash will promptly
                                            provide MyHypo with notice of such proposed amendments, whereupon the Parties will agree
                                            on changes (if any). If the Parties are unable to agree on the changes, then that Statement
                                            of Work will be terminated on a date agreed between the Parties (acting reasonably) and Monash
                                            will be paid for the Services Fee and Expenses for that Statement of Work up to the date
                                            of termination of that Statement of Work, including any committed Services Fees and Expenses.

 

		3.6	MyHypo
                                            will promptly provide Monash with the MyHypo Items, in additional to all information and
                                            assistance reasonably required to enable Monash to carry out the Research Services.

 

		3.7	MyHypo
                                            will:

 

		(a)	ensure
                                            that the MyHypo Items are accurate, complete and current;

 

		(b)	ensure
                                            that it is entitled to supply the MyHypo Items to Monash for the purpose of the Research
                                            Services;

 

		(c)	ensure
                                            that the use of the MyHypo Items in connection with the Research Services is lawful and all
                                            required consents, permissions or authorisations relating to such use have been obtained;

 

		(d)	be
                                            responsible for arranging for the packaging and delivery of all MyHypo Items to Monash and
                                            for all associated costs. Monash will not be responsible for any damage to the MyHypo Items
                                            prior to delivery to it;

 

		(e)	unless
                                            specified by written notice to Monash, ensure that the MyHypo Items, when used by Monash
                                            for the Research Services, are not reasonably capable of constituting a threat to safety,
                                            health, life, property or the environment; and

 

		(f)	ensure
                                            that it provides Monash all relevant information regarding the MyHypo Items, including, without
                                            limitation, information relating to the safe, secure and appropriate transportation, use,
                                            storage and disposal of the MyHypo Items.

 

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		3.8	If
                                            a 12 month plan is outlined in Schedule 3 to this Agreement, then this clause ‎3.8 applies.
                                            Over the Term of this Agreement it is anticipated that Monash will undertake the work outlined
                                            in Schedule 3 to this Agreement. It is acknowledged by both Parties that the outline in Schedule
                                            3 may be amended over the Term of this Agreement by the mutual agreement of both Parties,
                                            and Monash is not required to perform any of the work outlined in Schedule 3 unless a Statement
                                            of Work has been agreed in accordance with clause ‎3.1.

 

		4.	Services
                                            Fee

 

		4.1	In
                                            consideration of the performance of the Research Services, MyHypo agrees to pay the Services
                                            Fee and Expenses for each Statement of Work to Monash in accordance with the provisions of
                                            this clause ‎4 and Items 5, 6 and 7 of the relevant Statement of Work.

 

		4.2	Monash
                                            shall submit invoices for amounts payable according to Items 6 and 7 of the Statement of
                                            Work and MyHypo agrees and undertakes to pay such amounts within 30 days of receipt of the
                                            tax invoice.

 

		4.3	The
                                            Services Fee are expressed exclusive of GST. If any amount payable by MyHypo for the Research
                                            Services is subject to GST, then the amount of the GST will be itemised in the tax invoice
                                            that Monash shall submit to MyHypo and MyHypo undertakes to pay such amount within 30 days
                                            of receipt of the tax invoice.

 

		5.	Personnel

 

		5.1	Monash
                                            shall appoint the Specified Persons set out in Schedule 1 as having primary responsibility
                                            for the provision of the Research Services.

 

		5.2	Monash
                                            agrees to use reasonable endeavours to ensure that the Specified Persons are actively involved
                                            in delivering the Research Services. Where the Specified Persons leave the employ of Monash
                                            or are unable to perform the Research Services, Monash will use reasonable endeavours to
                                            provide a replacement subject to MyHypo’s approval which will not be unreasonably withheld
                                            or delayed. If a suitable replacement cannot be found or is not agreed to by the Parties,
                                            the Parties will communicate with each other and decide whether to terminate this Agreement.
                                            If the Parties agree to terminate this Agreement under this clause, Monash will be entitled
                                            to payment for work done and Expenses up to the date of termination, and reasonable costs
                                            necessarily incurred arising from such termination.

 

		6.	Confidentiality

 

		6.1	Each
                                            party (Receiving Party) receiving, possessing or otherwise acquiring Confidential
                                            Information of the other party (Disclosing Party) acknowledges that the Disclosing
                                            Party's Confidential Information is the property of and confidential to or a trade secret
                                            of the Disclosing Party. The Receiving Party must:

 

		(a)	keep
                                            the Disclosing Party's Confidential Information confidential and not directly or indirectly
                                            disclose, divulge or communicate that Confidential Information to, or otherwise place that
                                            Confidential Information at the disposal of, any other person without the prior written approval
                                            of the Disclosing Party;

 

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		(b)	take
                                            all reasonable steps to secure and keep secure all Disclosing Party's Confidential Information
                                            in its possession or control; and

 

		(c)	not
                                            deliberately memorise, use, modify, reverse engineer or make copies, notes or records of
                                            the Disclosing Party's Confidential Information for any purpose other than in connection
                                            with the performance by the Receiving Party of its obligations under this Agreement.

 

		6.2	MyHypo
                                            shall not publish, or make a public statement about, any findings, results, outcomes or recommendations
                                            arising from the Research Services in association with the name, trade marks or logos of
                                            Monash or the name of Monash staff, without the express written approval of Monash.

 

		6.3	MyHypo
                                            shall not represent that Monash or any Monash staff in any way endorse, support or approve
                                            of, any products, services, intellectual property or business of the MyHypo, unless Monash
                                            has given its express written consent to such representation.

 

		7.	Background
                                            Intellectual Property

 

		7.1	Each
                                            Party agrees that it will not have any claim, ownership or interest in the other Party’s
                                            Background IP, except as specified in this Agreement.

 

		7.2	Where
                                            Background IP is contributed by MyHypo, MyHypo grants Monash a non-exclusive, royalty-free
                                            licence for the Term to use, reproduce, communicate, modify and adapt that Background IP
                                            solely for the purpose of providing the Research Services.

 

		7.3	To
                                            the extent that Improvements have been made by Monash to MyHypo’s Background IP in
                                            performing the Research Services pursuant to a Statement of Work (MyHypo Improvements),
                                            Monash agrees that title to, and all Intellectual Property Rights (including future copyright)
                                            in the MyHypo Improvements will automatically be transferred and assigned to MyHypo, encumbrance
                                            free, such transfer and assignment to be effective on payment in full of the Services Fee
                                            and Expenses for that Statement of Work.

 

		7.4	Monash
                                            agrees to execute all such further documents and do all such further acts, at MyHypo’s
                                            expense, that are necessary to effect the assignment in clause ‎7.3. 

 

		8.	Ownership
                                            of Developed IP

 

		8.1	Title
                                            to, and all Intellectual Property (including future copyright) in, the Developed IP created
                                            or developed pursuant to a Statement of Work will automatically be transferred and assigned
                                            to MyHypo, encumbrance free, such transfer and assignment to be effective on payment in full
                                            of the Services Fee and Expenses for that Statement of Work.

 

		8.2	Monash
                                            agrees to execute all such further documents and do all such further acts, at MyHypo’s
                                            expense, that are necessary to effect the assignment of the Developed IP to MyHypo under
                                            clause ‎8.1

 

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		8.3	Where
                                            the use of any Monash Background IP is necessary for MyHypo to be able to fully utilise the
                                            Developed IP, Monash will grant MyHypo a non-exclusive licence, on reasonable commercial
                                            terms to be negotiated in good faith, to use, reproduce, communicate, publish, adapt and
                                            exploit that Background IP in conjunction with the Developed IP to the extent necessary and
                                            solely for the purpose of utilising the Developed IP.

 

		9.	Acknowledgement

 

		9.1	MyHypo
                                            acknowledges and agrees that:

 

		(a)	while
                                            Monash will exercise reasonable care and diligence in carrying out the Research Services,
                                            research work is by its nature uncertain and that the outcomes of the Research Services and
                                            its ability to produce commercially useful results cannot be assured;

 

		(b)	Monash
                                            makes no representation and gives no warranties that any Developed IP will be patentable;

 

		(c)	Monash
                                            is not required to make enquiries or undertake patent searches to ascertain whether any Developed
                                            IP or Background IP infringes any third party Intellectual Property;

 

		(d)	the
                                            Developed IP is a result of experimental research and as such, MyHypo must use its own judgement
                                            as to the applicability and appropriateness of the Developed IP for MyHypo’s intended
                                            use;

 

		(e)	MyHypo
                                            assumes sole responsibility and risk in interpreting, using, exploiting and protecting the
                                            Developed IP (including any findings, results and recommendations contained within); and

 

		(f)	given
                                            the above, to the maximum extent permitted by law, subject to clause ‎‎15.1 and notwithstanding
                                            anything else in this Agreement, Monash will not be liable to MyHypo for any loss or damage
                                            arising from:

 

		(i)	MyHypo’s
                                            (or any of its users) use of any Developed IP (including any findings, results and recommendations
                                            contained within); or

 

		(ii)	Monash's
                                            failure to perform work on time or within estimated costs, provided that Monash has exercised
                                            reasonable care and diligence in carrying out the Research Services.

 

		10.	Developed
                                            IP and Background IP limitation on warranty

 

		10.1	Monash
                                            makes no representations and gives no warranties that the Developed IP, Monash Background
                                            IP, or any Improvements to MyHypo’s Background IP when used by MyHypo in accordance
                                            with the terms of this Agreement or otherwise, will not infringe upon any third party Intellectual
                                            Property.

 

		11.	Limitation
                                            on condition, guarantee or warranty

 

		11.1	Monash
                                            will exercise all reasonable care and diligence in carrying out the Research Services but
                                            where permitted by law (including, without limitation, under the Competition and Consumer
                                            Act 2010) specifically excludes any condition, guarantee or warranty either express or
                                            implied, as to the standard or timeliness of work, the accuracy of, or fitness for a particular
                                            purpose of, the Research Services.

 

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		12.	Limitation
                                            of liability

 

		12.1	To
                                            the fullest extent permitted by law (including, without limitation, the Competition and
                                            Consumer Act 2010), Monash’s liability under any condition, guarantee or warranty
                                            which cannot legally be excluded is limited, at the option of Monash, to supplying the Research
                                            Services again or paying the cost of having the Research Services supplied again.

 

		12.2	Monash’s
                                            liability under this Agreement is reduced to the extent that any damage, liability, loss
                                            or cost arises from or is attributable to any act or omission of MyHypo, its officers, employees,
                                            agents or contractors.

 

		13.	MyHypo
                                            to bear responsibility and risk

 

		13.1	MyHypo
                                            assumes sole responsibility and risk in interpreting, using and exploiting the Developed
                                            IP and any Improvements to its Background IP (including any findings, results and recommendations
                                            therein) and shall indemnify Monash and its officers, employees and agents against any actions,
                                            proceedings, suits, claims and demands arising from such interpretation, use or exploitation
                                            by MyHypo, its officers, employees, contractors, agents, successors, licensees or assigns;
                                            save to the extent such loss, damage or expense is directly attributable to any breach of
                                            this Agreement by Monash or any negligent, fraudulent, or unlawful act or omission by Monash.

 

		14.	Special,
                                            indirect or consequential loss or damage

 

		14.1	To
                                            the fullest extent permitted by law, Monash will not be liable to MyHypo or any third party
                                            for any special, indirect or consequential loss or damage, or loss of anticipated profits,
                                            revenue, data or opportunity, arising from or in any way relating to this Agreement, whether
                                            in tort (including negligence), contract, statute, equity or otherwise.

 

		15.	Maximum
                                            liability

 

		15.1	Notwithstanding
                                            any other clause in this Agreement and to the fullest extent permitted by law, Monash’s
                                            liability arising from its obligations under this Agreement or in any other manner related
                                            to this Agreement, whether in tort (including negligence), contract, statute, equity or otherwise,
                                            will not in the aggregate exceed the Services Fees and Expenses paid under this Agreement.

 

		16.	Privacy

 

		16.1	Each
                                            Party must handle any Personal Information relating to the Research Services or under this
                                            Agreement in accordance with the Privacy and Data Protection Act 2014 (Vic) and the
                                            Health Records Act 2001 (Vic), including the Information Privacy Principles and Health
                                            Privacy Principles, and any code of practice or guidelines made under these Acts, and must
                                            co-operate with all efforts by either Party to comply with these laws, codes and guidelines,
                                            including in response to a complaint or a suspected privacy breach.

 

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		16.2	Where
                                            MyHypo discloses any Personal Information it receives from Monash, or it receives, creates
                                            or holds in connection with this Agreement, to any third party for the purposes of this Agreement,
                                            MyHypo must ensure that the third party is subject to enforceable obligations requiring the
                                            third party to comply with the obligations in this clause as if the third party were MyHypo,
                                            and to enforce these obligations against the third party if required to do so by Monash.

 

		16.3	To
                                            the extent that:

 

		(a)	the
                                            European Union’s General Data Protection Regulation (2016/679) (GDPR) is applicable
                                            to Monash or MyHypo (or both) in the context of this Agreement; and

 

		(b)	GDPR
                                            provisions impose obligations on Monash or MyHypo (or both) which are additional to the obligations
                                            in clauses ‎16.1 and ‎16.2 in respect of personal data as that term is defined in
                                            the GDPR, MyHypo shall comply with those GDPR provisions in addition to its obligations under
                                            clauses ‎‎‎16.1 and ‎16.2.

 

		16.4	MyHypo
                                            will indemnify and will continue to indemnify, defend and hold harmless Monash, its officers
                                            and employees from and against all claims, losses, liabilities, damages, settlements, expenses
                                            and costs (including reasonable legal costs) arising out of or relating to MyHypo’s
                                            breach of this clause ‎‎16 or a breach by any third party of the obligations it undertakes
                                            under clause ‎‎16.2.

 

		17.	Force
                                            Majeure

 

		17.1	Notwithstanding
                                            any other provision of this Agreement, neither Party will be liable for any failure to fulfil
                                            any term of this Agreement where that fulfilment is delayed, prevented, restricted or interfered
                                            with for any reason outside that Party's reasonable control (Force Majeure Event).

 

		17.2	The
                                            Party unable to perform its obligations as a result of a Force Majeure Event must:

 

		(a)	notify
                                            the other Party promptly of any delay referred to in clause ‎‎17.1; and

 

		(b)	use
                                            reasonable endeavours to resume performance in accordance with this Agreement as soon as
                                            possible.

 

		18.	Default
                                            and termination

 

		18.1	This
                                            Agreement may be terminated by mutual agreement of the Parties in writing.

 

		18.2	Either
                                            Party may terminate this Agreement immediately by giving notice in writing to the other Party
                                            upon the other Party suffering an Insolvency Event. This termination by notice does not affect
                                            any claim either Party may have against the other arising out of the terms of this Agreement
                                            at the date of the termination.

 

		18.3	Either
                                            party (First Party) may terminate this Agreement by notice in writing to the other
                                            if the other Party commits any breach of the terms of this Agreement and that breach is not
                                            remedied within 30 days of notice in writing from the First Party requiring the breach to
                                            be remedied.

 

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		18.4	A
                                            Statement of Work may be terminated by mutual agreement of the Parties in writing if the
                                            Parties agree that the Milestones in relation to that Statement of Work will not be met,
                                            whether because it appears the outcomes will not be attained or for technical reasons the
                                            work should not continue.

 

		18.5	All
                                            unpaid Services Fees become due and payable upon termination of this Agreement.

 

		18.6	Upon
                                            termination of this Agreement for any reason each Party must immediately cease using the
                                            other Party’s Confidential Information and immediately return to the other Party its
                                            Confidential Information or, if requested by the other Party, destroy it.

 

		18.7	In
                                            the case of termination pursuant to clause ‎18.4 or where Monash is terminating this
                                            Agreement pursuant to clauses ‎18.2 or ‎18.3, MyHypo will meet payments due to Monash
                                            up to the effective date of termination, plus the reasonable costs and committed expenses
                                            of Monash which cannot be avoided notwithstanding the termination.

 

		18.8	The
                                            obligations under clauses ‎1, ‎4, ‎6, ‎7, ‎8, ‎9, ‎10, ‎11,
                                            ‎12, ‎13, ‎14, ‎15, ‎16, ‎18, ‎19, ‎20, ‎21 and ‎22
                                            shall survive termination or expiry of this Agreement.

 

		19.	Dispute
                                            Resolution

 

		19.1	If
                                            any dispute arises between the Parties out of or in connection with this Agreement, the Parties
                                            shall endeavour to resolve that dispute by negotiation in good faith.

 

		19.2	If
                                            the dispute is not mutually resolved within 20 Business Days of a Party serving on the other
                                            Party a written dispute notice, each Party must nominate one senior representative who shall
                                            meet as soon as practicable for the purpose of endeavouring to resolve the dispute.

 

		19.3	If
                                            within 20 Business Days after submitting the dispute to senior representatives the Parties
                                            fail to resolve the dispute then the Parties shall have the right to seek the determination
                                            of the dispute in a court or tribunal exercising jurisdiction over such matters in Victoria,
                                            Australia.

 

		19.4	The
                                            provisions of this clause ‎‎19 shall not preclude a Party from seeking urgent interlocutory
                                            relief in a court of competent jurisdiction.

 

		20.	Notices

 

Notices
under this Agreement must be delivered in legible writing in English by prepaid postage, by hand or by email to each of the Parties at
the address set out in Schedule 1 or such other address as either Party may specify by notice in writing to the other. Notices will be
deemed to be given:

 

		20.1	two
                                            (2) Business Days after deposit in the mail with postage prepaid;

 

		20.2	when
                                            delivered by hand; or

 

		20.3	if
                                            sent by email, four hours after the time sent unless the sender receives an automated message
                                            that the email has not been delivered.

 

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		21.	Interpretation

 

		21.1	This
                                            Agreement is governed by and is to be construed in accordance with the laws of Victoria.
                                            Each Party irrevocably and unconditionally submits to the exclusive jurisdiction of the courts
                                            of Victoria and waives any right to object to proceedings being brought in those courts.

 

		21.2	The
                                            rights, duties, obligations and liabilities of the Parties under this Agreement shall in
                                            every case be several and not joint nor joint and several. If a Party consists of more than
                                            one person, this Agreement binds them jointly and each of them severally.

 

		21.3	In
                                            this Agreement, a reference to a statute includes regulations under it and consolidations,
                                            amendments, re-enactments or replacements of any of them.

 

		21.4	If
                                            a provision in this Agreement is held to be illegal, invalid, void, voidable or unenforceable,
                                            that provision must be read down to the extent necessary to ensure that it is not illegal,
                                            invalid, void, voidable or unenforceable. If it is not possible to read down a provision
                                            as required in this clause then that provision shall be deemed void and shall be severed
                                            from this Agreement without affecting the validity or enforceability of the remaining part
                                            of that provision or the other provisions in this Agreement.

 

		21.5	This
                                            Agreement may be executed in any number of counterparts all of which taken together constitute
                                            one instrument.

 

		21.6	If
                                            a payment or other act is required by this Agreement to be made or done on a day which is
                                            not a Business Day, the payment or act must be made or done on the next following Business
                                            Day.

 

		21.7	In
                                            this Agreement, a reference to:

 

		(a)	the
                                            singular includes the plural and vice versa; and

 

		(b)	a
                                            gender includes the other genders.

 

		22.	General

 

		22.1	This
                                            Agreement, including the Schedules, may only be varied or replaced by a document duly executed
                                            by the Parties.

 

		22.2	This
                                            Agreement contains the entire understanding between the Parties with regard to the subject
                                            matter of this Agreement. All previous agreements, representations, warranties, explanations
                                            and commitments, express or implied, are superseded by this Agreement and have no effect.

 

		22.3	Neither
                                            Party may assign any right or obligation under this Agreement to any person without the prior
                                            written consent of the other Party.

 

		22.4	Each
                                            person who executes this Agreement on behalf of a Party under a power of attorney declares
                                            that he or she is not aware of any fact or circumstance that might affect his or her authority
                                            to do so under that power of attorney.

 

		22.5	The
                                            Parties acknowledge their obligations under Australian Sanctions Laws, including but not
                                            limited to those arising under the Charter of the United Nations Act 1945 (Cth) and
                                            the Autonomous Sanctions Act 2011 (Cth), and undertakes to comply with those obligations.

 

    - 11 -

     

    

 

	EXECUTED as an Agreement	 
	 	 
	Signed for and on behalf of 	 
	Monash University by its 	 
	Authorised Officer:	/S/Authorized Signatory
	 	(signature)
	 	 
	 	Authorized Signatory
	 	Director, Monash Institute of Pharmaceutical Sciences
	 	 
	 	(name of authorised officer)
	 	12/5/2019
	 	 
	 	(date)
	 	 
	Signed for and on behalf of 	 
	myhypo pty LIMITED 	 
	by its Authorised Officer:	/S/Nathan Givoni
	 	(signature)
	 	 
	 	Nathan Givoni
	 	(name of authorised officer)
	 	 
	 	12/5/2019
	 	(date)

 

    - 12 -

     

    

  

SCHEDULE
1

 

	1.	Commencement Date	 	The date on which this Agreement is signed by the last party
	 	 	 	 
	2.	Completion Date	 	One year from the Commencement Date.
	 	 	 	 
	3.	Specified Persons	 	
    -Professor [*****], Centre Director

     

    -[*****], Centre Manager

	 	 	 	 
	4.	
    Address for Service of Notices

     
	 	 
	 	
    Monash

     
	 	
    Attention: [*****], Centre Manager

    Address:

    Medicines Manufacturing Innovation Centre

    Monash University

    399 Royal Parade

    Parkville VIC 4052

    Email : [*****]

     

	 	MyHypo	 	
    Attention: Nathan Givoni

    Address: HyHypo Pty Ltd, 647 Glenhuntly Road, Caulfield, Victoria 3162

    Email : [*****]

	 	 	 	 
	5.	Services Rate	 	$[*****] per year, calculated on the basis of one Full Time Equivalent Research Officer, and pro-rated as necessary for each Statement of Work. 

 

 

    - 13 -

     

    

 

SCHEDULE
2

Statement
of Work

 

PROJECT
CODE & SHORT TITLE[insert]

 

FINANCIAL
YEAR[insert]

 

This
Statement of Work is issued under the Master Research Services Agreement between MyHypo Pty Ltd (ABN 31 619 501 254) and Monash University
(ABN 12 377 614 012) dated [insert]. The terms of the Master Research Services Agreement apply to the Research Services set out in this
Statement of Work and must be read in conjunction with those terms. To the extent that the terms of the Master Research Services Agreement
and this Statement of Work conflict, the terms of the Statement of Work shall take precedence.

 

	Item
                                            1A: Research Services to be performed by Monash

     

	[insert
                                            details of the specific project to be undertaken by Monash. If the Research Services are
                                            set out in a Research Proposal or Project Plan, insert the words ‘As described in the
                                            attached [Research Proposal/Project Plan]’ and attach the relevant Research Proposal/Project
                                            Plan to the Statement of Work]

     

	Item
                                            1B: Deliverables

     

	[insert
                                            the reports or other deliverables to be provided by Monash and due dates (unless these are
                                            to be set out in the Milestones section]

     

	Item
                                            1C: Milestones

     

	[insert
                                            milestone][insert completion date]

     

    [insert
    milestone][insert completion date]

     

    [insert
    milestone][insert completion date]

	Item
                                            2: Start Date

     

	[insert
                                            the start date for the Research Services or otherwise insert the words ‘The date on
                                            which this Statement of Work is signed by the last Party’]

     

	Item
                                            3: End Date

     

	[insert
                                            the end date for the completion of the Research Services]

     

	Item
                                            4: MyHypo Items

     

	[insert
                                            any items including personnel, equipment, materials or other items MyHypo is required to
                                            supply in order for Monash to perform the Research Services. If there are no items, insert
                                            the words ‘Not applicable’ here]

    

 

    - 14 -

     

    

 

	Item
    5: Services Fee (exclusive of GST)
	[insert
                                            the total Services Fee payable by MyHypo to Monash for the Research Services, noting that
                                            during the one year Term MyHypo is expected to spend at least $[*****], which can be prorated
                                            as required – e.g., $[*****]for a one month project or $[*****] for three months] (exclusive
                                            of GST).

     

	Item
                                            6: Payment Schedule (all amounts are exclusive of GST)

     

	[insert the dates/milestones when specific amounts of the Services Fee are to be paid to Monash along with the relevant amount (ensure this adds up to the total Services Fee). For example:

                                                                                 

                                                                                1
July 2020 [*****]

                                                                                Submission of final report [*****]    

	Item
                                            7: Expenses

     

	[insert
    comprehensive description of the types of expenses MyHypo will cover (eg travel and accommodation expenses), when these expenses
    are payable (eg subject to prior written approval) and on what basis (eg provision of written evidence/receipts]
	Item
                                            8: Background IP

     

	[insert
                                            Background IP to be provided by either Party (if any)]

     

    Monash
    Background IP:

     

    MyHypo
    Background IP:

 

	Signed for and on behalf of MONASH UNIVERSITY by its Authorised Officer:	 	Signed for and on behalf of myhypo pty ltd by its Authorised Officer:
	 	 	 
	 	 	 
	(signature)	 	(signature)
	 	 	 
	(name of authorised officer)	 	(name of authorised officer)
	 	 	 
	(date)	 	(date)

 

    - 15 -

     

    

 

SCHEDULE
3

 

Summary
of proposed 12-month activity 

 

Not
applicable.

 

 

 -
16 -Exhibit
10.5

 

"Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) the type that the registrant treats as private or confidential."

 

Variation Agreement

 

THIS AGREEMENT is made between 

 

		Monash University
                                                                             (ABN: 12 377 614 012) of Wellington Road, Clayton, Victoria	(Monash)

 

		AND the party named in Item 1 of the Schedule	(Contracting Party)

 

Background:

 

		A.	Monash and the Contracting Party entered into the document named in Item 2 of the Schedule (Document).

 

		B.	Monash and the Contracting Party wish to vary the Document in accordance with this Agreement.

 

In consideration
of the mutual promises and covenants contained in this Agreement, it is agreed as follows:

 

		1.	Definitions 

 

		1.1	Terms which are defined in the Document and used in this Agreement have the meaning given to them in the
Document, unless stated otherwise.

 

		2.	Effective date of variation

 

		2.1	The effective date of this Agreement is the date set out in Item 3 of the Schedule (Effective Date).

 

		2.2	Clause 2.1 does not affect any right or obligation arising before the Effective Date.

 

		3.	Variation

 

		3.1	The parties agree that from the Effective Date, the Document will be varied in accordance with Item 4
of the Schedule.

 

		3.2	Save for varying the Document as specified in this Agreement, all other provisions in the Document remain
unchanged.

 

		4.	General

 

		4.1	Costs: Each party remains responsible for its own costs and expenses in entering into this Agreement.

 

		4.2	Signatories: The signatories to this Agreement warrant that they have the authority to enter into
this Agreement on behalf of the party they are stated to represent.

 

    	Variation Agreement (OGC ref: 20/1770)	Page 1

     

    

 

		5.	Electronic Signing & Counterparts

 

		5.1	Each Party agrees that this Agreement may be executed by electronic signature (regardless of the form
of electronic signature utilised) and that this method of signature is conclusive of the parties’ intention to be bound by this
Agreement as if physical signing had occurred.

 

		5.2	This Agreement may be executed in any number of counterparts and by the parties on separate counterparts.
Each counterpart constitutes the agreement of each party who has executed and delivered that counterpart. Each party may communicate its
execution of this Agreement by successfully transmitting an executed copy of the Agreement by an electronic method to each party.

 

EXECUTED as
an agreement

 

SIGNED for and on behalf of

MONASH UNIVERSITY by

its authorised officer: 

 

	Authorized Signatory	/S/Authorized Signatory
	Print Name	Signature
	 	 
	Director MIPS	15 May, 2021
	Title	Date

 

SIGNED for and on behalf of the

CONTRACTING PARTY by

its authorised officer: 

 

	Nathan Givoni	/S/ Nathan Givoni
	Print Name	Signature
	 	 
	Director	5/13/2021
	Title	Date

 

    	Variation Agreement (OGC ref: 20/1770)	Page 2

     

    

 

SCHEDULE

 

	Item	 	Description
	1.	Contracting Party	 	MYHYPO PTY LTD (ABN 31 619 501 254) of 647 Glenhuntly Road, Caulfield VIC 3162
	2.	Document	 	Master Services Agreement dated 5 December 2019
	3.	Effective Date	 	From the date of the signature of the last party to sign
	4.	Variations	 	
    In Schedule 1 the Document is varied as follows:

     

    1.   In
    Item 2 Completion Date the words “One year from the Commencement  Date” is deleted and replaced with “31 January 2023.”;

     

    2.   In
    Item 5 Services Rate add the following text:

     

     “Services Rates for a full
year, half year and quarterly commitment periods  are shown in Table A. Rates are calculated on the basis of one Full Time  Equivalent
(FTE) Research Officer and, as necessary, shall be prorated for  across the commitment period for each statement of work.

     

    Table A.

	 	Project Commencement Year*	 	Full year commitment
 (12 months fee excl. GST)
	 	 	Half yearly commitment
 (6 months fee excl. GST)
	 	 	Quarterly commitment
 (3 months fee excl. GST)
	 
	 	2019/20	 	 	[*****]	 	 	 	[*****]	 	 	 	[*****]	 
	 	2020/21	 	 	[*****]	 	 	 	[*****]	 	 	 	[*****]	 
	 	2021/22	 	 	[*****]	 	 	 	[*****]	 	 	 	[*****]	 

 

	 	 	 	Fees
that, in aggregate, are likely to represent an FTE commitment less than 3 months in a single year shall be charged at the standard single
engagement service rates of MMIC and are available upon request. 

    

 

	 	 	*	Project Commencement Year is the financial year in which new
    rates commence and occurs annually on the anniversary of the Effective Date above (2).”

 

	Variation Agreement (OGC ref: 20/1770)	Page
3

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