Document:

License Agreement

 Exhibit 10.9 
 LICENSE AGREEMENT 
 This Agreement is between The Johns
Hopkins University, a corporation of the State of Maryland, having a principal place of business at 2024 E. Monument Street, Suite 2-100, Baltimore, MD 21205 (hereinafter referred to as “JHU”) and Surgi-Vision, Inc., a Delaware corporation
(hereinafter the “Company”), having an address at Suite 601, 150 Gulf Shore Drive, Destin, Florida 32541. 
 WITNESSETH: 
 WHEREAS, as a center for research and education, JHU is interested in licensing PATENT RIGHTS
(hereinafter defined) in a manner that will benefit the public by facilitating the distribution of useful products and the utilization of new methods, but is without capacity to commercially develop, manufacture, and distribute any such products or
methods; and 
 WHEREAS, the following PATENT RIGHTS, as later defined, were developed during the course of research conducted
by [***], all hereinafter, “Inventors”): 
 WHEREAS, JHU has acquired through assignment all rights, title and
interest, with the exception of certain retained rights by the United States, in said PATENT RIGHTS; and 
 WHEREAS, the Company
desires to commercially develop, manufacture, use and distribute such products and processes based on PATENT RIGHTS throughout the world; 
 NOW, THEREFORE, in consideration of the foregoing premises and the following mutual covenants, and other good and valuable consideration, the receipt of which is hereby acknowledged, and intending to be
legally bound hereby, the parties agree as follows: 
 ARTICLE 1 - DEFINITIONS 
 1.1        PATENT RIGHTS” shall mean and include the rights in and to the patents and patent
applications listed in Appendix A and any inventions disclosed and claimed in any of the listed patents in Appendix A and all continuations, continuations-in-part, divisions, reexaminations, and reissues of the listed patents and any corresponding
foreign patent applications, and any patents, patents of addition, or other equivalent foreign patents issuing, granted or registered thereon. 
 1.2        “LICENSED PRODUCT(S)” means any material, compositions, drug, process, equipment, or other product, the manufacture, use or sale of which would
constitute, but for the license granted to the Company pursuant to this Agreement, an infringement of a claim of PATENT RIGHTS (infringement shall include, but is not limited to, direct, contributory, or inducement to infringe). 
  

 [***] 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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 1.3        “LICENSED SERVICE(S)” means the
performance on behalf of a third party of any method which includes the manufacture of any product or the use of any product, process, or composition which would constitute, but for the license granted to the Company pursuant to this Agreement, an
infringement of a claim of the PATENT RIGHTS, (infringement shall include, but not be limited to, direct, contributory or inducement to infringe). 
 1.4        “NET SALES”, subject to Paragraphs 4.9 and 4.11, below, shall mean gross sales revenues and fees billed by the Company or any AFFILIATED
COMPANY from the sale of LICENSED PRODUCT(S) less trade discounts allowed, refunds, returns and recalls, freight and delivery costs, sales taxes, rebates accrued, incurred or paid to Federal Medicaid or State Medicare or other payors and amounts
exactly repaid or credited by reason of rejections or the return of Licensed Products (due to recalls, dating or other reasons) . In the event that the Company, or any AFFILIATED COMPANY sells a LICENSED PRODUCT(S) as part of a kit, the NET SALES
for purposes of royalty payments shall be based on that portion of the sales revenues and fees derived from that component of the kit which could independently be sold as a LICENSED PRODUCT. 
 1.5        “NET SERVICE REVENUES”, subject to Paragraphs 4.9 and 4.11, below, shall mean actual billings for the performance of
LICENSED SERVICE less sales and/or use taxes imposed upon and with specific reference to the LICENSED SERVICE, and rebates accrued, incurred or paid to Federal Medicaid or State Medicare or other payors and amounts exactly repaid or credited by
reason of rejection of services (due to recalls, dating or other reasons). 
 1.6        “SUBLICENSE REVENUES”, shall mean consideration of any kind received by the Company from a sublicensee for sales of LICENSED PRODUCTS or for fees
received, such as upfront fees or milestone fees and including any premium paid by the sublicensee over Fair Market Value for stock of the company in considerations for such sublicense; however, not included in Sublicense Revenues are amounts paid
to the Company by the sublicensee for product development, research work, clinical studies and regulatory approvals performed by the Company, or third parties on its behalf. The term “Fair Market Value” as used in this Paragraph 1.6 shall
mean the average price that the stock in questions is publicly trading at for sixty (60) days prior to the announcement of its purchase by the sublicensee or if the stock is not publicly traded, the value of such stock as determined by the most
recent private financing of the Company. 
 1.7        “AFFILIATED COMPANY” or
“AFFILIATED COMPANIES” shall mean any corporation, company, partnership, joint venture or other entity which controls, is controlled by or is under common control with the Company. For purposes of this Paragraph 1.7, control shall mean the
direct or indirect ownership of at least fifty percent (50%) of the voting securities of a company. 
  

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 1.8        “EXCLUSIVE LICENSE” shall mean
a grant by JHU to the Company of its entire right and interest in the PATENT RIGHTS, subject to rights retained by the United States government in accordance with P.L. 96-517, as amended by P.L. 98-620, and subject to the retained right of JHU to
make, have made, provide and use for its and The Johns Hopkins Health Systems’ internal, non-commercial research purposes LICENSED PRODUCT(S) and LICENSED SERVICES. 
 1.9        EFFECTIVE DATE shall mean the date the Company has issued equity securities representing in the aggregate cash proceeds in the amount of not less than
7,500,000. If the Effective Date does not occur on or before October 1, 1998, this Agreement shall be void abinitio. 
 1.10        “ROYALTY PAYMENT PERIOD” shall mean the period of time beginning on the fourth anniversary of the EFFECTIVE DATE if on such date the JHU SHARES do not have a fair market value of
at least [***] and continuing thereafter until the aggregate payments as described in Paragraph 4.14 below have been paid. 
 1.11        “JHU SHARES” shall mean the [***] shares of the Company’s common stock issued to JHU in consideration of JHU entering into this Agreement together with any securities issued
as a result of the ownership of such shares. 
 1.12        “CORE TECHNOLOGY”
is an intravascular, intralumen, or intratissue miniature magnetic resonance coil detection probe as described in the PATENT RIGHTS. 
 1.13        “IMPROVEMENT” is any invention that results from the Research Agreement funded by the Company and made by a JHU employee in the FIELD OF USE. 
 1.14        “FIELD OF USE” is a diagnostic or therapeutic method, process or device using
CORE TECHNOLOGY and excludes diagnostic or therapeutic methods, processes or devices not using CORE TECHNOLOGY. 
 1.15        “NEW DISCOVERY” means any invention that results from work under the Research Agreement funded by the Company and made by a JHU employee and that is not in the Field of Use.

 1.16        “TERRITORY” means the world 
 1.17        “RESEARCH AGREEMENT” means a certain Research Agreement dated June 30,
1998, between JHU and the Company pertaining to the research directed to the CORE TECHNOLOGY, including specific STATEMENTS OF WORK addressing specific applications and clinical research. 
  

 [***] 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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 ARTICLE 2 - GRANTS 
 2.1        Subject to the terms and conditions of this Agreement, on the EFFECTIVE DATE JHU will grant to the
Company an EXCLUSIVE LICENSE to make, have made, use, and sell the LICENSED PRODUCT(S) and to provide the LICENSED SERVICE(S) in the TERRITORY within the FIELD OF USE under the PATENT RIGHTS. 
 2.2        The Company may sublicense to others under this Agreement and shall provide a copy of each such sublicense agreement to JHU
promptly after it is executed. Each sublicense shall include those previsions contained herein which by their terms are to be binding upon a sublicensee. 
 2.3        The Company shall, at its option, have the right to include within the definition of PATENT RIGHTS any inventions resulting from work under the Research
Agreement funded by the Company and invented by a JHU employee that is an IMPROVEMENT. The exercise of such option shall entitle the Company to receive an EXCLUSIVE LICENSE within the FIELD OF USE with respect to the IMPROVEMENTS, to make, have
made, use, and sell the LICENSED PRODUCT(S) and to provide the LICENSED SERVICE(S) in the TERRITORY under such PATENT RIGHTS. JHU shall promptly notify the Company, in writing, of any such IMPROVEMENTS and the Company shall have sixty (60) days
thereafter in which to elect to exercise such option by providing JHU with written notice. Upon such notice, the elected IMPROVEMENT shall be included in PATENT RIGHTS and governed by the terms of this Agreement. Any such notice from JHU shall
specify if the IMPROVEMENT has been patented or if a patent application has been filed with respect to the same, and such patents or patent applications shall be added to Appendix A. 
 2.4        The Company shall have a first right of negotiation for an exclusive, world-wide, license with respect to any NEW DISCOVERY
resulting from work under the Research Agreement funded by the Company and invented by a JHU employee. The financial considerations to be received by JHU for such inventions shall be reasonable for the nature of the NEW DISCOVERY considering its
market potential and stage of development. JHU shall promptly notify the Company, in writing, of any such IMPROVEMENTS or NEW DISCOVERIES and the Company shall have sixty (60) days thereafter in which to elect to exercise such option. If the
Company elects to exercise such option the parties agree to negotiate in good faith the terms of any such license. 
 ARTICLE 3 -
PATENT INFRINGEMENT 
 3.1        Each party will notify the other promptly in writing
when any infringement by another is uncovered or suspected. 
  

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 3.2        The Company shall have the first right to
enforce any patent within PATENT RIGHTS against any infringement or alleged infringement thereof, and shall at all times keep JHU informed as to the status thereof. The Company may, in its sole judgment and at its own expense, institute suit against
any such infringer or alleged infringer and control, settle, and defend such suit in a manner consistent with the terms and provisions hereof and recover, for its account, any damages, awards or settlements resulting therefrom, subject to Paragraph
3.4. This right to sue for infringement shall not be used in an arbitrary or capricious manner. JHU shall reasonably cooperate in any such litigation at its own expense. 
 3.3        If the Company elects not to enforce any patent within the PATENT RIGHTS, then it shall so notify JHU in writing within six (6) months of receiving
notice that an infringement exists, and JHU may, in its sole judgment and at its own expense, take steps to enforce any patent and control, settle, and defend such suit in a manner consistent with the terms and provisions hereof, and recover, for
its own account, any damages, awards or settlements resulting therefrom. The Company shall reasonably cooperate in any such litigation at its own expense. 
 3.4        Any recovery by the Company under Paragraph 3.2 shall be deemed to reflect loss of commercial sales and the Company shall pay to JHU the same percent of
the recovery net of all reasonable costs and expenses associated with each suit or settlement as if such net constituted Net Sales. If the cost and expenses exceed the recovery, then [***] of the excess shall be credited against royalties payable by
the Company to JHU hereunder in connection with sales in the country of such legal proceedings, provided, however, that any such credit under this Paragraph 3.4 shall not exceed [***] of the royalties otherwise payable to JHU with regard to sales in
the country of such action in any one calendar year, with any excess credit being carried forward to future calendar years. 
 ARTICLE 4 - PAYMENTS, ROYALTY, RESEARCH SUPPORT AND EQUITY 
 4.1        The Company will reimburse JHU for the reasonable costs and efforts of preparing, filing, maintaining and prosecuting PATENT RIGHTS through June 30, 1998 provided that such costs shall
not exceed [***] in the aggregate. The Company shall reimburse JHU within thirty (30) days of receipt of invoice from JHU. The Company shall also reimburse JHU out of pocket expenses to have the corporate formation documents and fund raising
documents reviewed by outside counsel not to exceed [***]. 
 4.2        The Company
shall pay to JHU within thirty (30) days of the EFFECTIVE DATE, a processing fee of [***]. This payment is nonrefundable and shall not be credited against royalties or other fees. 
 4.3        The Company shall pay to JHU a [***] annual maintenance fee due within thirty (30) days of each anniversary of the EFFECTIVE
DATE. Such fees are nonrefundable and shall not be credited against royalties or other fees. 
  

 [***] 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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 4.4        Subject to the limitations set forth in
Paragraph 4.14 below, the Company shall pay to JHU, as a running royalty during the ROYALTY PAYMENT PERIOD, for each LICENSED PRODUCT sold, and for each LICENSED SERVICE provided by the Company and AFFILIATED COMPANIES, [***] of NET SALES and NET
SERVICE REVENUES. Such payments shall be made quarterly as provided in Paragraph 4.7. 
 4.5        Subject to the limitations set forth in Paragraph 4.14 below, the Company shall pay to JHU, as a running royalty during the ROYALTY PAYMENT PERIOD, [***] of SUBLICENSE REVENUES received by
the Company and any AFFILIATED COMPANY. Such payments shall be made quarterly as provided in Paragraph 4.7. 
 4.6        The Company shall pay to JHU [***] upon the first commercial sale of a LICENSED PRODUCT or LICENSED SERVICE following receipt of FDA marketing approval. Such fee shall be non-refundable and
will be credited against future royalties. 
 4.7        During the ROYALTY PAYMENT
PERIOD the Company shall provide to JHU within forty-five (45) days of the end of each March, June, and September and within ninety (90) days of the end of each December, a written report to JHU of the amount of LICENSED PRODUCTS sold,
LICENSED SERVICES sold, the total NET SALES, NET SERVICE REVENUES of such LICENSED PRODUCTS and LICENSED SERVICES, and the running royalties due to JHU as a result of NET SALES, NET SERVICE REVENUES and SUBLICENSE REVENUES received by the Company
and AFFILIATED COMPANIES. Payment of any such royalties due shall accompany such report. Until the Company, an AFFILIATED COMPANY or a sublicensee has achieved a first commercial sale of a LICENSED PRODUCT and received FDA market approval, a report
shall be submitted at the end of every June and December after the EFFECTIVE DATE and will include a full written report describing the Company’s, AFFILIATED COMPANIES or sublicensee’s technical efforts towards meeting the milestones in
Article 6. 
 4.8        The Company shall make and retain, for a period of three
(3) years following the period of each report required by Paragraph 4.7, true and accurate records, files and books of account containing all the data reasonably required for the full computation and verification of sales and other information
required in Paragraph 4.7. Such books and records shall be in accordance with generally accepted accounting principles consistently applied. The Company shall permit the inspection and copying of such records, files and books of account by JHU or
its agents during regular business hours upon ten (10) business days’ written notice to the Company. Such inspection shall not be made more than once each calendar year. All costs of such inspection and copying shall be paid by JHU,
provided that if any such inspection shall reveal that an error has been made in the amount equal to ten percent (10%) or more of such payment, such costs shall be borne by

  

 [***] 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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the Company. The Company shall include in any agreement with its AFFILIATED COMPANIES or its sublicensees which permits such party to make, use or sell the LICENSED PRODUCT(S) or provide LICENSED
SERVICES, a provision requiring such party to retain records of sales of LICENSED PRODUCT(S) and records of LICENSED SERVICES and other information as required in Paragraph 4.7 and permit JHU to inspect such records as required by this Paragraph
4.8. 
 4.9          No royalties shall be payable on LICENSED PRODUCT sales
or LICENSED SERVICE activities between the Company and any AFFILIATED COMPANIES, in which event the royalty shall be based upon the NET SALES or NET SERVICE REVENUES of the AFFILIATED COMPANY. 
 4.10        No multiple royalties shall be due and payable because any LICENSED PRODUCTS or LICENSED SERVICES are covered by more than one
patent which is within the definition of PATENT RIGHTS. 
 4.11        In order to
insure JHU the full royalty payments contemplated hereunder, the Company agrees that in the absence of a written consent by JHU to the terms of any agreement, understanding, or arrangement between the Company or any AFFILIATED COMPANY and a
corporation, firm or association (hereinafter referred to as an “Inside Customer”) under which the Company or an AFFILIATED COMPANY has or will receive other consideration (such as, among other things, an option to purchase stock or actual
stock ownership, or an arrangement involving division of profits or special rebates or allowances) any royalties on LICENSED PRODUCT sold or LICENSED SERVICE provided by the Company or an AFFILIATED COMPANY to such Inside Customer shall be based
upon the greater of: 1) the net selling price at which the Insider Customer resells LICENSED PRODUCTS, 2) the net service revenue received by the Inside Customer from using the LICENSED PRODUCT in providing a service, 3) the fair market value of the
LICENSED PRODUCT or 4) the net selling price of LICENSED PRODUCTS paid by the Inside Customer. In the event JHU is requested to consent to an agreement with an Inside Customer, JHU agrees to act promptly in the matter. 
 4.12        JHU agrees that no royalties shall be due for the internal use of the LICENSED PRODUCTS
for research and commercial development purposes by the Company and AFFILIATED COMPANIES or for use by third parties in seeking governmental and professional approvals, certifications or endorsements, or for training purposes, except where the
Company or any AFFILIATED COMPANY receives revenues for the sale of the LICENSED PRODUCT to the organization using the device for such stated proposes. 
 4.13        All payments under this Agreement shall be made in U.S. Dollars. 
 4.14        The cumulative royalty payments to be paid by the Company under Paragraphs 4.4 and 4.5 above shall not exceed in the aggregate [***] less the fair
market value of the JHU SHARES on the fourth anniversary of the EFFECTIVE 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. 
  

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 4.15        The Company shall pay to JHU, as a
running royalty [***] of NET SALES and/or NET SERVICE REVENUES and/or [***] of SUBLICENSE REVENUES received by the Company and any AFFILIATED COMPANY for the term of this Agreement for any IMPROVEMENTS that are covered by a patent granted in the
country from which the LICENSED PRODUCT or LICENSED SERVICE is made, used or practiced. Such royalty shall not be accumulative based on the number of patented IMPROVEMENTS but will be [***] of NET SALES or NET SERVICE REVENUES or [***] of SUBLICENSE
REVENUES of each product covered by one or more such patented IMPROVEMENTS. Such payments shall be made quarterly as provided in Paragraph 4.7. For IMPROVEMENTS not covered by a patent no royalty shall be paid by the Company. 
 4.16        The Company shall not pay to JHU any royalty on any IMPROVEMENTS that are not covered by
a patent granted in the country from which the LICENSED PRODUCT or LICENSED SERVICE is made, used, sold or practiced. 
 ARTICLE 5 - PATENT RIGHTS AND CONFIDENTIAL INFORMATION 
 5.1        The
Company, at its own expense, shall file, prosecute and maintain all patents and patent applications specified under PATENT RIGHTS and the Company shall be licensed thereunder. Title to all such patents and patent applications shall reside in JHU.
The Company shall have control over all patent matters in connection therewith under the PATENT RIGHTS, subject to review and approval by JHU, such approval not to be unreasonably withheld, and shall keep JHU informed of its actions by sending
copies of all filings with the PTO to JHU. In any country where the Company elects not to have a patent application filed or fails to prosecute or maintain a patent application or patent, JHU may file, prosecute, and/or maintain a patent application
or patent at its own expense and for its own exclusive benefit and the Company thereafter shall not be licensed under such patent or patent application. 
 5.2        The Company agrees that all packaging containing individual LICENSED PRODUCT(S) sold by the Company, AFFILIATED COMPANIES and sublicensees of the Company
will be marked with the number of the applicable patent(s) licensed hereunder in accordance with each country’s patent laws. 
 5.3        If necessary, the parties will exchange information which they consider to be confidential. The recipient of such information agrees to accept the disclosure of said information which is
marked as confidential at the time it is sent to the recipient, and to employ all reasonable efforts to maintain the information secret and confidential, such efforts to be no less than the degree of care employed by the recipient to preserve and
safeguard its own confidential information. The information shall not be disclosed or revealed to anyone except employees of the recipient who have a need to know the information and who have entered into a confidentiality agreement with the
recipient under which such employees are required to maintain confidential the proprietary information of the recipient and such employees shall be advised by the recipient of the

  

 [***] 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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confidential nature of the information and that the information shall be treated accordingly. The recipient’s obligations under this Paragraph 5.3 shall not extend to any part of the
information: 
 a.    that can be demonstrated to have been in the public domain or publicly
known and readily available to the trade or the public prior to the date of the disclosure; or 
 b.    that can be demonstrated, from written records to have been in the recipient’s possession or readily available to the recipient from another source not under obligation of confidentiality to the disclosing
party prior to the disclosure; or 
 c.    that becomes part of the public domain or publicly
known by publication or otherwise, not due to any unauthorized act by the recipient; or 
 d.    that is demonstrated from written records to have been developed by or for the receiving party without reference to confidential information disclosed by the disclosing party. 
 The obligations of this Paragraph 5.3 shall also apply to AFFILIATED COMPANIES and/or sublicensees provided such information by the Company.
JHU’s, the Company’s, AFFILIATED COMPANIES, and sublicensees’ obligations under this Paragraph 5.3 shall extend until three (3) years after the termination of this Agreement. 
 ARTICLE 6 - TERM, MILESTONES AND TERMINATION 
 6.1        This Agreement shall expire in each country on the date the last patent included within PATENT RIGHTS expires or is rendered invalid in that country or
if no patents issue, twenty (20) years from the EFFECTIVE DATE. 
 6.2        After
an NDA or PLA has been obtained from the FDA, the Company shall exercise commercially reasonable efforts to market a product included in LICENSED PRODUCTS in the TERRITORY, conditioned upon obtaining regulatory approval in each particular foreign
nation or region. 
 6.3        [***] 
  

 [***] 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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 6.4        Upon breach or default of any of the
terms and conditions of this Agreement, the defaulting party shall be given written notice of such default in writing and a period of sixty (60) days after receipt of such notice to correct the default or breach. If the default or breach is not
corrected within said sixty (60) day period, the party not in default shall have the right to terminate this Agreement. 
 6.5        The Company may terminate this Agreement and the license granted herein, for any reason, upon giving JHU sixty (60) days written notice. 
 6.6        Termination shall not affect JHU’s right to recover unpaid royalties or fees or
reimbursement for patent expenses incurred pursuant to Paragraph 4.1 prior to termination. Upon termination all rights in and to the licensed technology shall revert to JHU at no cost to JHU, except as provided in Paragraph 6.7 below. 
 6.7        In the event the Company sublicenses any of the rights granted it herein, JHU agrees that
such sublicense shall survive termination of this Agreement if the default or breach causing termination did not occur under such sublicense and the sublicensee agrees to substitute JHU as the sublicensor and to pay the royalties due thereunder
without imposing upon JHU any of the sublicensor’s obligations under the sublicense. 
 ARTICLE 7 - MISCELLANEOUS

 7.1 All notices pertaining to this Agreement shall be in writing and sent certified mail, return receipt requested, to the
parties at the following addresses or such other address as such party shall have furnished in writing to the other party in accordance with this Paragraph 7.1: 
 FOR JHU: 
 Howard Califano, Esq. 
 Assistant Dean and Director 
 Office of Technology Licensing 
 The Johns Hopkins University 
 School of Medicine 
 2024 E. Monument St., Suite. 2-100

 Baltimore, MD 21205 
  

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 FOR the Company: 
 Steve Gorlin 
 Chairman of the Board 
 Surgi-Vision, Inc. 
 150 Gulf Shore Drive 
 Unit 601 
 Destin FL 32541 
 7.2        All written
progress reports, royalty and other payments, and any other related correspondence shall be in writing and sent to: 
 FOR JHU:

 Howard Califano, Esq. 
 Assistant Dean and Director 
 Office of Technology Licensing 
 The Johns Hopkins University 
 School of Medicine 
 2024 E. Monument St., Suite. 2-100 
 Baltimore, MD 21205 
 or such other addressee which JHU may designate in writing from time to time. Checks are to be made payable to “The Johns Hopkins University”. 
 7.3        This Agreement is binding upon and shall inure to the benefit of JHU, its successors and assignees and shall not be assignable to another party without
the written consent of JHU, which consent shall not be unreasonably withheld, except that the Company shall have the right to assign this Agreement to another party without the consent of JHU in the case of the sale or transfer by the Company of
all, or substantially all, of its assets relating to the LICENSED PRODUCT or LICENSED SERVICE, to that party. 
 7.4        In the event that any one or more of the provisions of this Agreement should for any reason be held by any court or authority having jurisdiction over this Agreement, or over any of the
parties hereto to be invalid, illegal or unenforceable, such provision or provisions shall be reformed to approximate as nearly as possible the intent of the parties, and if unreformable, shall be divisible and deleted in such jurisdictions;
elsewhere, this Agreement shall not be affected. 
 7.5        The construction, performance, and
execution of this Agreement shall be governed by the laws of the State of Maryland. 
 7.6        The Company shall not use the name of THE JOHNS HOPKINS UNIVERSITY or THE JOHNS HOPKINS HEALTH SYSTEM or any of its constituent parts, such as the Johns Hopkins Hospital or any contraction
thereof or the name of Inventors of PATENT RIGHTS in any advertising, promotional, sales literature or fundraising

  

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documents without prior written consent from an officer of JHU except to the extent that such disclosures are determined by counsel for the Company to be necessary or desirable to comply with
applicable laws and governmental regulations. The Company shall allow at least seven (7) business days notice of any proposed public disclosure for JHU’s review and comment or to provide written consent. 
 7.7        JHU warrants that it has good and marketable title to its interest in the inventions
claimed under PATENT RIGHTS WITH THE EXCEPTION OF CERTAIN RETAINED RIGHTS OF THE UNITED STATES GOVERNMENT. JHU DOES NOT WARRANT THE VALIDITY OF ANY PATENTS OR THAT PRACTICE UNDER SUCH PATENTS SHALL BE FREE OF INFRINGEMENT. EXCEPT AS EXPRESSLY SET
FORTH IN THIS PARAGRAPH 7.7, COMPANY, AFFILIATED COMPANIES AND SUBLICENSEES AGREE THAT THE PATENT RIGHTS ARE PROVIDED “AS IS”, AND THAT JHU MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE PERFORMANCE OF LICENSED PRODUCT(S) AND
LICENSED SERVICES INCLUDING THEIR SAFETY, EFFECTIVENESS, OR COMMERCIAL VIABILITY. JHU DISCLAIMS ALL WARRANTIES WITH REGARD TO PRODUCT(S) AND SERVICES LICENSED UNDER THIS AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES, EXPRESS OR IMPLIED,
OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, JHU ADDITIONALLY DISCLAIMS ALL OBLIGATIONS AND LIABILITIES ON THE PART OF JHU AND INVENTORS, FOR DAMAGES, INCLUDING, BUT NOT LIMITED
TO, DIRECT, INDIRECT, SPECIAL, AND CONSEQUENTIAL DAMAGES, ATTORNEYS’ AND EXPERTS’ FEES, AND COURT COSTS (EVEN IF JHU HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, FEES OR COSTS), ARISING OUT OF OR IN CONNECTION WITH THE MANUFACTURE,
USE, OR SALE OF THE PRODUCT(S) AND SERVICES LICENSED UNDER THIS AGREEMENT. THE COMPANY, AFFILIATED COMPANIES AND SUBLICENSEES EACH ASSUME ALL RESPONSIBILITY AND LIABILITY FOR LOSS OR DAMAGE CAUSED BY A PRODUCT AND SERVICE MANUFACTURED, USED, OR SOLD
BY THAT ENTITY WHICH IS A LICENSED PRODUCT OR LICENSED SERVICE AS DEFINED IN THIS AGREEMENT. 
 7.8        JHU and the Inventors of LICENSED PRODUCT(S) and LICENSED SERVICES will not, under the provisions of this Agreement or otherwise, have control over the manner in which the Company or its
AFFILIATED COMPANIES or its sublicensees or those operating for its account or third parties who purchase LICENSED PRODUCT(S) or LICENSED SERVICES from any of the foregoing entities, practice the inventions of LICENSED PRODUCT(S) and LICENSED
SERVICES. The Company shall defend and hold JHU, The Johns Hopkins Health Systems, their present and former trustees, officers, Inventors of PATENT RIGHTS, agents, faculty, employees and students harmless as against any judgments, fees, expenses, or
other costs arising from or incidental to any product liability or other lawsuit, claim, demand or other action brought as a consequence of the practice of said inventions by any of the foregoing entities,

  

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whether or not JHU or said Inventors, either jointly or severally, is named as a party defendant in any such lawsuit. Practice of the inventions covered by LICENSED PRODUCT(S) and LICENSED
SERVICES, by an AFFILIATED COMPANY or an agent or a sublicensee or a third party on behalf of or for the account of the Company or by a third party who purchases LICENSED PRODUCT(S) and LICENSED SERVICES from the Company, shall be considered the
Company’s practice of said inventions for purposes of this Paragraph 7.8. The obligation of the Company to defend and indemnify as set out in this Paragraph 7.8 shall survive the termination of this Agreement. 
 7.9        Prior to initial human testing or first commercial sale of any LICENSED PRODUCT or
LICENSED SERVICE as the case may be in any particular country, the Company shall, to the best of its ability, establish and maintain, in each country in which the Company, an AFFILIATED COMPANY or sublicensee shall test or sell LICENSED PRODUCT(S)
and LICENSED SERVICES, product liability or other appropriate insurance coverage appropriate to the risks involved in marketing LICENSED PRODUCT(S) and LICENSED SERVICES and will annually present evidence to JHU that such coverage is being
maintained. Upon JHU’s request, the Company will furnish JHU with a Certificate of Insurance of each product liability insurance policy obtained and agrees to increase or change the kind of insurance pertaining to the LICENSED PRODUCT(S) and
LICENSED SERVICES at the request of JHU. JHU shall be listed as an additional insured in the Company’s said insurance policies. 
 7.10        JHU may publish manuscripts, abstracts or the like describing the PATENT RIGHTS and inventions contained therein provided the necessary filings for protection of any such rights under
applicable patent laws have been made and confidential information of the Company as defined in Paragraph 5.3, is not included or without first obtaining approval from the Company to include such matters for which patents have not been filed or
confidential information. Otherwise, unless otherwise agreed to by the parties, JHU and the Inventors shall be free to publish manuscripts and abstracts or the like directed to the work done at JHU related to the licensed technology without prior
approval, provided, however, in any such materials the author will note that the Company has been granted the exclusive license to the PATENT RIGHTS. 
 7.11        JHU represents that the PATENT RIGHTS include all potential patents and patent applications owned or controlled by JHU that describe the CORE TECHNOLOGY
as of the EFFECTIVE DATE and that such patents and patent applications are in force or are pending in the appropriate patent offices or being prepared as of the EFFECTIVE DATE. 
 7.12        This Agreement constitutes the entire understanding between the parties with respect to the obligations of the parties with
respect to the subject matter hereof, and supersedes and replaces all prior agreements, understandings, writings, and discussions between the parties relating to said subject matter. 
 7.13        This Agreement may be amended and any of its terms or conditions may be waived only by a written instrument executed by the
authorized officials of the parties or, in the case of a waiver, by the party waiving compliance. The failure of either party at

  

 13 

 
any time or times to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same. No waiver by either party of any condition or term in any
one or more instances shall be construed as a further or continuing waiver of such condition or term or of any other condition or term. 
 7.14        This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted
assigns. 
 7.15        Upon termination of this Agreement for any reason, Paragraphs
5.3, 7.6,7.7, 7.8, 7.9, and 7.14 shall survive termination of this Agreement. 
 7.16        This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same
instrument. 
 IN WITNESS WHEREOF the respective parties hereto have executed this Agreement by their duly authorized officers
on the date appearing below their signatures. 
  

													
	THE JOHNS HOPKINS UNIVERSITY	 	 	 	SURGI-VISION, INC.	 	 
							
	 By:
	 	             /s/ Edward D. Miller, M.D.
	 		 		 	 By:
	 	 /s/ Steve Gorlin
	 	
	 	 		 		 	 	 	
	 Edward D. Miller, M.D.
	 		 	 Steve Gorlin
	 	
	 Chief Executive Officer, Johns Hopkins Medicine
 Dean of Medical Faculty, School of Medicine
	 		 	 Title: President
	 	

  

							
	 Date:
	  	 as of June 30, 1998
	  	     Date:
	  	 as of June 30, 1998

 I HAVE READ AND AGREE TO ABIDE BY THE TERMS OF THIS AGREEMENT 
  

			
	 By
	 	 : /s/ [***]

			
		
	 Printed Name:
	 	 [***]

			
		
	 Date
	 	 : as of June 30, 1998

  

 [***] 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. 
  

 14 

			
	 By:
	 	             /s/ [***]

	
	 Printed Name: [***]

		
	 Date:
	 	                 7/6/98

		
	 By:
	 	             /s/ [***]

	
	 Printed Name: [***]

		
	 Date:
	 	                 7/6/98

		
	 By:
	 	             /s/ [***]

	
	 Printed Name: [***]

		
	 Date:
	 	                 7/8/98

		
	 By:
	 	             /s/ [***]

	
	 Printed Name: [***]

		
	 Date:
	 	                 7/13/98

		
	 By:
	 	             /s/ [***]

	
	 Printed Name: [***]

		
	 Date:
	 	                 7/7/98

  

 [***] 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. 
  

 15 

			
	 By:
	 	             /s/ [***]

	
	 Printed Name: [***]

		
	 Date:
	 	                 7/16/98

		
	 By:
	 	             /s/ [***]

	
	 Printed Name: [***]

		
	 Date:
	 	                 7/7/98

		
	 By:
	 	             /s/ [***]

	
	 Printed Name: [***]

		
	 Date:
	 	                 7/13/98

  

 [***] 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 A 
 PATENT RIGHTS 
 [***] 
  

 [***] 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. 

 AMENDMENT TO LICENSE AGREEMENT 
 THIS AMENDMENT TO LICENSE AGREEMENT (this “Agreement”) is made on this 15th day of January 2000, to be effective as of
June 30, 1998, by and between The Johns Hopkins University, a non-profit educational institution, having a principal place of business at 3400 N. Charles Street, Baltimore, Maryland, (the “JHU”), and Surgi-Vision, Inc. a Delaware
corporation, having an address at Suite 601, 150 Gulf Shore Drive, Destin, Florida 32541 (the “Company”). Unless otherwise defined herein, all capitalized terms have the meanings set forth in the License Agreement dated as of June 30,
1998 by and between JHU and the Company (the “License Agreement”). 
 EXPLANATORY STATEMENT 
 WHEREAS, JHU and the Company are parties to the License Agreement for certain PATENT RIGHTS involving magnetic resonance coil detection
probes; and 
 WHEREAS, subsequent to the EFFECTIVE DATE of the License Agreement, JHU acquired through assignment rights, title
and interest to an invention developed by [***], employees of JHU, entitled [***] for which patent applications have been filed (the “Invention”); and 
 WHEREAS, JHU and the Company desire to amend the License Agreement to include the Invention within the PATENT RIGHTS set forth on Appendix A of the License Agreement subject to the terms and conditions of
the License Agreement as amended as set forth below. 
 AGREEMENT 
 NOW THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, and intending to be legally bound hereby, the parties agree as follows: 
 1.        License of Invention. JHU and the Company hereby amend the License Agreement to include the Invention under the PATENT RIGHTS licensed to the Company. 
 2.        Amendment of Appendix A. JHU and the Company hereby amend Appendix A of the
License Agreement to incorporate the following description of the Invention: 
 6.        [***] 
  

 [***] 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.        Patent Cost Reimbursement. The
Company will reimburse JHU for the reasonable costs and efforts of preparing, filing, maintaining, and prosecuting the patent applications for the Invention through the date of this Agreement. The Company shall reimburse JHU within thirty
(30) days of receipt of an invoice from JHU. 
 4.        Payments under the
License Agreement. The Company acknowledges that the Invention falls within the definition of LICENSED PRODUCT(s) and/or LICENSED SERVICE(s) under the License Agreement and that all payment provisions pertaining to the sale LICENSED PRODUCT(s)
or LICENSED SERVICE(s) containing of Article 4 of the License Agreement will apply to the Invention. 
 5.        Statement of Work for Research Agreement. 
 Contemporaneously with the
execution of this Agreement, the Company and JHU are entering into a Statement of Work under the terms of the Research Agreement dated as of June 30, 1998 by and between the Company and JHU which Statement of Work provides for the nonrefundable
payment by the Company to JHU of [***] to fund research in the laboratories of [***] for a period of twelve months. 
 6.        Warrant to Purchase Shares of Common Stock. 
 Contemporaneously with the
execution of this Agreement, the Company is issuing to JHU a warrant to purchase [***] shares of the Company’s Common Stock at an exercise price of [***] per share (the “Warrant”) which Warrant shall be exercisable for a period of ten
(10) years. 
 7.        Miscellaneous 
 (a)        Binding Effect. This Agreement shall be binding upon and inure to the benefit of
and be enforceable by the parties hereto and their respective successors and permitted assigns. 
 (b)        Entire Agreement. The License Agreement together with this Agreement, constitute the entire understanding between the parties with respect to the obligations of the parties with
respect to the subject matter hereof, and supersedes and replaces all prior agreements, understandings, writings, and discussions between the parties relating to the subject matter of those agreements. Except as modified by this Agreement, all other
terms and conditions of the License Agreement remain in full force and effect. 
  

 [***] 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. 
  

 -2- 

 IN WITNESS WHEREOF, the respective parties hereto have executed this
Agreement by their duly authorized officers on the date appearing below their signatures. 
 SURGI-VISION, INC 
  

			
	 By:
	  	     /s/ Nancy E. Taylor

	 Name:
	  	
	 Title:
	  	
	
	 THE JOHNS HOPKINS UNIVERSITY

		
	 By:
	  	     /s/ Estelle A. Fishbein

	 Name:
	  	     Estelle A. Fishbein.

	 Title:
	  	     Vice President and General Counsel

  

 -3- 

 I HAVE READ AND AGREE TO ABIDE BY THE TERMS OF THIS AGREEMENT: 
  

	
	   /s/ [***]

	   [***]

	
	   /s/ [***]

	   [***]

	
	   /s/ [***] 1/14/2000

	   [***]

  

 [***] 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. 
  

 -4- 

 ATTACHMENT A 
 PATENT RIGHTS 
  
  
 [***] 
  

 [***] 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. 

 ADDENDUM TO LICENSE AGREEMENT 
 This Addendum to License Agreement between The Johns Hopkins University, a corporation of the State of Maryland, having
a principal place of business at 100 N. Charles Street, 5th Floor, Baltimore, MD 21201 (hereinafter referred to as “JHU”) and Surgi-Vision, Inc., a Delaware corporation (hereinafter “SVI”), having an address at 200 N Cobb Parkway, Suite 140, Marietta, Georgia, is being executed
on the date set forth below to clarify and amend that License Agreement entered into by these parties on or about June 30, 1998 and as first Amended on or about January 14, 2000 (hereafter “Agreement”). 
 WITNESSETH: 
 WHEREAS, JHU and SVI
wish to clarify and update the PATENT RIGHTS licensed under the Agreement as outlined in Appendix A of the Agreement; 
 THE
PARTIES HEREBY AGREE AS FOLLOWS: 
 Licensed PATENT RIGHTS shall include the issued U.S. Patents and pending U.S. Patent Applications listed
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. 

 IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
signed in duplicate by their duly authorized officers. 
  

									
	 THE JOHNS HOPKINS UNIVERSITY
	 		 	 SURGI-VISION, INC.

					
	 By
	 	 /s/ R. Keith Baker, Ph.D.
	 		 	 By
	 	 /s/ Kim Jenkins

		 	 R. Keith Baker, Ph.D.
	 		 		 	 Kim Jenkins

		 	 Senior Director,
	 		 		 	 CEO Surgi-Vision, Inc.

		 	 Technology Licensing
	 		 	 Date:
	 	 12/09/04License Agreement

 Exhibit 10.10 
 LICENSE AGREEMENT 
 THIS LICENSE
AGREEMENT (the “Agreement”) is entered into by and between THE JOHNS HOPKINS UNIVERSITY, a Maryland corporation having an address at 3400 N. Charles Street, Baltimore, Maryland, 21218-2695 (“JHU”) and Surgi-Vision, Inc. a
Delaware corporation having an address at 200 N. Cobb Parkway, Suite 140, Marietta, Georgia (“Company”), with respect to the following: 
 RECITALS 
 WHEREAS, as a center for research and education,
JHU is interested in licensing PATENT RIGHTS (hereinafter defined) in a manner that will benefit the public by facilitating the distribution of useful products and the utilization of new processes, but is without capacity to commercially develop,
manufacture, and distribute any such products or processes; and 
 WHEREAS, valuable invention(s) entitled [***]
developed during the course of research conducted by [***]; and [***] developed during the course of research conducted by [***] (all hereinafter, “Inventors”); and 
 WHEREAS, JHU has acquired through assignment all rights, title and interest, with the exception of certain retained rights by the United States Government, in its interest in said
valuable inventions; and 
 WHEREAS, Company desires to obtain certain rights in such inventions as herein
provided, and to commercially develop, manufacture, use and distribute products and processes based upon or embodying said valuable inventions throughout the world; 
 NOW THEREFORE, in consideration of the premises and the mutual promises and covenants contained in this Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE 1 
 DEFINITIONS 
 All references to particular Exhibits, Articles or Paragraphs shall mean the Exhibits to, and Paragraphs and Articles of, this Agreement, unless otherwise specified. For the purposes of this Agreement and
the Exhibits hereto, the following words and phrases shall have the following meanings: 
 1.1
“AFFILIATED COMPANY” as used herein in either singular or plural shall mean any corporation, company, partnership, joint venture or other entity, which controls, is controlled

  

 [***] 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. 
  

 Page 1 

 
by or is under common control with Company. For purposes of this Paragraph 1.1, control shall mean the direct or indirect ownership of at least fifty- percent (50%). 
 1.2    “EFFECTIVE DATE” of this License Agreement shall mean the date the last party hereto has
executed this Agreement. 
 1.3    “EXCLUSIVE LICENSE” shall mean a grant by JHU to Company
of its entire right and interest in the PATENT RIGHTS subject to rights retained by the United States Government, if any, in accordance with the Bayh-Dole Act of 1980 (established by P.L. 96-517 and amended by P.L. 98-620, codified at 35 USC §
200 et. seq. and implemented according to 37 CFR Part 401), and subject to the retained right of JHU to make, have made, provide and use for its and The Johns Hopkins Health Systems’ non-commercial purposes LICENSED PRODUCT(S) and LICENSED
SERVICE(S). 
 1.4    “LICENSED FIELD” shall mean all fields. 
 1.5    “LICENSED PRODUCT(S)” as used herein in either singular or plural shall mean any process or
method, material, compositions, drug, medical devices or other product, the manufacture, use, import, offer for sale or sell of which would constitute, but for the license granted to Company pursuant to this Agreement, an infringement of a claim of
PATENT RIGHTS (infringement shall include, but is not limited to, direct, contributory, or inducement to infringe). 
 1.6    “LICENSED SERVICE(S)” as used herein in either singular or plural shall mean the performance by Company, AFFILIATED COMPANY or SUBLICENSEE(S) of any method, including drug discovery or screening,
or the manufacture of any product or the use of any product or composition which would constitute, but for the license granted to Company pursuant to this Agreement, an infringement of a claim of the PATENT RIGHTS, (infringement shall include, but
not be limited to, direct, contributory or inducement to infringe). 
 1.7    “NET SALES”
shall mean gross sales revenues and fees billed by Company and/or AFFILIATED COMPANY from the sale of LICENSED PRODUCT(S) less trade discounts allowed, refunds, returns and recalls, freight and delivery costs, sales taxes, rebates accrued, incurred
or paid to State or Federal agencies such as Medicaid or Medicare or other payors. In the event that Company and/or AFFILIATED COMPANY sells a LICENSED PRODUCT(S) as part of a kit, the NET SALES for purposes of royalty payments shall be based on
that portion of the sales revenues and fees derived from that component of the kit which could independently be sold as a LICENSED PRODUCT(S). 
 1.8    “NET SERVICE REVENUES” shall mean gross service revenues and fees billed by Company and/or AFFILIATED COMPANY for the performance of LICENSED SERVICE(S) less
sales and/or use taxes imposed upon and with specific reference to the LICENSED SERVICE(S), but only where LICENSED SERVICES are sold or used separately from manufacture or sale of a LICENSED PRODUCT. In the event that Company and/or AFFILIATED
COMPANY or sells a LICENSED SERVICE(S) in combination with other services or substances or as part of a kit that does not include a LICENSED PRODUCT, the NET SERVICE REVENUES for purposes of royalty payments shall be based on the sales revenues and
fees received from the kit. 
  

 Page 2 

 1.9      “PATENT RIGHTS”
shall mean the PCT patent application Serial No. [***], filed on [***], and assigned to JHU entitled [***]; and US Patent No. [***], issued [***], and assigned to JHU entitled [***] and the invention disclosed and claimed therein, and all divisions,
continuations, and continuations-in-part (to the extent that such continuations-in-part are not encumbered by third party rights and the claims in the continuations-in-part are supported by the original disclosures of the parent applications) and
reissues based thereof, and any corresponding foreign patent applications, and any patents, or other equivalent foreign PATENT RIGHTS issuing, granted or registered thereon. 
 1.10   “SUBLICENSEE(S)” as used herein in either singular or plural shall mean any person or entity other than an AFFILIATED COMPANY to which Company
has granted a sublicense to the Patent Rights under this Agreement. 
 1.11   “1998
JHU-SURGIVISION LICENSE AGREEMENT” shall mean the Exclusive License Agreement entered into by JHU and Company on or about June 30, 1998 and as amended by the Addendum to License Agreement executed on or about December 9, 2004.

 ARTICLE 2 
 LICENSE GRANT 
 2.1      Grant. Subject to the terms and conditions of this Agreement, JHU hereby grants to Company an EXCLUSIVE LICENSE to make, have made, use, import, offer for sale and sell the LICENSED PRODUCT(S)
and to provide and practice the LICENSED SERVICE(S) in the United States and worldwide under the PATENT RIGHTS in the LICENSED FIELD each of the above license grants including the right to sublicense and the right to collect for past, present and
future damages. This Grant shall apply to the Company and any AFFILIATED COMPANY, except that any AFFILIATED COMPANY shall not have the right to sublicense others as set forth in Paragraph 2.2 below. If any AFFILIATED COMPANY exercises rights under
this Agreement, such AFFILIATED COMPANY shall be bound by all terms and conditions of this Agreement, including but not limited to indemnity and insurance provisions and royalty payments, which shall apply to the exercise of the rights, to the same
extent as would apply had this Agreement been directly between JHU and the AFFILIATED COMPANY. In addition, Company shall remain fully liable to JHU for all acts and obligations of AFFILIATED COMPANY such that acts of the AFFILIATED COMPANY shall be
considered acts of the Company for purposes of this Agreement. 
 2.2      Sublicense. Company may sublicense to others under this Agreement, subject to the terms and conditions of this Paragraph and subject to JHU’s prior written approval of the sublicense
agreement. Such approval shall not be unreasonably withheld. As a condition to its validity and enforceability, each sublicense agreement shall: (a) incorporate by reference the

  

 [***] 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. 
  

 Page 3 

 
terms and conditions of this Agreement, (b) be consistent with the terms, conditions and limitations of this Agreement, (c) prohibit SUBLICENSEE’S further sublicense of the rights
delivered hereunder except that such prohibition shall not preclude SUBLICENSEE’S right to use third parties to manufacture or distribute devices on behalf of SUBLICENSEE, (d) name JHU as an intended third party beneficiary of the
obligations of SUBLICENSEE without imposition of obligation or liability on the part of JHU or its Inventors to the SUBLICENSEE, (e) specifically incorporate Paragraphs 6.2 “Representations by JHU”, 7.1 “Indemnification”,
10.1 “Use of Name”, 10.4 “Product Liability” into the body of the sublicense agreement, and cause the terms used in therein to have the same meaning as in this Agreement, and, (f) bear signature from JHU indicating
JHU’s review and approval of the sublicense agreement. Company shall provide to JHU each proposed sublicense agreement, executed by both Company and proposed SUBLICENSEE, for review, approval and signature by JHU. To the extent that any terms,
conditions or limitations of any sublicense agreement are inconsistent with this Agreement, those terms, conditions and limitations are null and void against JHU, even though JHU has approved the sublicense in writing. 
 2.3    Government Rights.  The United States Government may have acquired a
nonexclusive, nontransferable, irrevocable, paid-up license to practice or have practiced for or on behalf of the United States the inventions described in PATENT RIGHTS throughout the world. The rights granted herein are additionally subject to:
(i) the requirement that any LICENSED PRODUCT(S) produced for use or sale within the United States shall be substantially manufactured in the United States (unless a waiver under 35 USC § 204 or equivalent is granted by the appropriate
United States government agency), (ii) the right of the United States government to require JHU, or its licensees, including Company, to grant sublicenses to responsible applicants on reasonable terms when necessary to fulfill health or safety
needs, and, (iii) other rights acquired by the United States government under the laws and regulations applicable to the grant/contract award under which the inventions were made. 
 ARTICLE 3 
 FEES, ROYALTIES, & PAYMENTS 

 3.1    License Fee. Company shall pay to JHU a license fee as set forth in Exhibit
A. Five thousand dollars shall be due within thirty (30) days following the execution of this License Agreement and the remaining balance shall be due within one hundred eighty (180) days following the execution of this License Agreement.
JHU will not submit an invoice for the license fee, which is nonrefundable and shall not be credited against royalties or other fees. 
 3.2    Minimum Annual Royalties. Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice
from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the second anniversary. Running royalties accrued under Paragraph 3.3 and paid to JHU during the one year period preceding an anniversary of the
EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date. 
  

 Page 4 

 3.3    Running
Royalties.    Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES, based on NET SALES
and NET SERVICE REVENUES for the term of this Agreement. Such payments shall be made quarterly. All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S) sold under this Agreement shall be paid by Company and shall not be deducted from
royalty or other payments due to JHU. 
 In order to insure JHU the full royalty payments contemplated
hereunder, Company agrees that in the event any LICENSED PRODUCT(S) shall be sold to an AFFILIATED COMPANY or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement with
respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) the royalties to be paid hereunder for such LICENSED
PRODUCT(S) shall be based upon the greater of: 1) the net selling price (per NET SALES) at which the purchaser of LICENSED PRODUCT(S) resells such product to the end user, 2) the NET SERVICE REVENUES received from using the LICENSED PRODUCT(S) in
providing a service, 3) the fair market value of the LICENSED PRODUCT(S) or 4) the net selling price (per NET SALES) of LICENSED PRODUCT(S) paid by the purchaser. 
 No multiple royalty shall be due or payable because any LICENSED PRODUCT(S) or LICENSED SERVICE(S) is covered by more than one patent of the PATENT RIGHTS whether in this License
Agreement or the 1998 License Agreement. The royalty shall not be cumulative based on the number of patents covering a product or service, but rather shall be capped at [***] of NET SALES REVENUES and/or NET SERVICE REVENUES. 
 3.4    Sublicense Consideration. Company shall pay to JHU a percentage of consideration received
for sublicenses under this Agreement as set forth in Exhibit A. This sublicense consideration shall be due, without the need for invoice from JHU, within forty-five (45) days of the effective date of each sublicense agreement. Such
consideration shall mean consideration of any kind received by the Company or AFFILIATED COMPANIES from a SUBLICENSEE(S) for the grant of a sublicense under this Agreement, such as upfront fees or milestone fees, running royalties and including any
premium paid by the SUBLICENSEE(S) over Fair Market Value for stock of the Company or an AFFILIATED COMPANY in consideration for such sublicense. However, not included in such sublicense consideration are amounts paid to the Company or an AFFILIATED
COMPANY by the SUBLICENSEE(S) for product development, research work, clinical studies and regulatory approvals performed by or for the Company or AFFILIATED COMPANIES (including third parties on their behalf), each pursuant to a specific agreement
including a performance plan and commensurate budget. The term “Fair Market Value” shall mean the average price that the stock in question is publicly trading at for twenty (20) days prior to the announcement of its purchase by the
SUBLICENSEE(S) or if the stock is not publicly traded, the value of such stock as determined by the most recent private financing through a financial investor (an entity whose sole interest in the Company or AFFILIATED COMPANY is financial) of the
Company or AFFILIATED COMPANY that issued the shares. 
  

 [***] 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. 
  

 Page 5 

 The sublicensing income payable to JHU shall be capped such that the aggregate amount payable to JHU shall
be capped at [***] of all sublicensing income whether such income is attributed to technology licensed under this License Agreement and/or the 1998 Agreement, each as may be amended from time to time. 
 3.5    Patent Reimbursement. Company will reimburse JHU, within thirty (30) days of the receipt of an
invoice from JHU, for all costs associated with the preparation, filing, maintenance, and prosecution of PATENT RIGHTS incurred by JHU on or before the EFFECTIVE DATE of this Agreement. In accordance with Paragraph 4.1 below, Company will reimburse
JHU, within thirty (30) days of the receipt of an invoice from JHU, for all costs associated with the preparation, filing, maintenance, and prosecution of PATENT RIGHTS incurred by JHU subsequent to the EFFECTIVE DATE of this Agreement.

 3.6    Form of Payment. All payments under this Agreement shall be made in U.S. Dollars. Checks
are to be made payable to “The Johns Hopkins University”. Wire transfers may be made through: 
 [***] 
 Company shall be responsible for any and all costs associated with wire transfers. 
 3.7    Late Payments. In the event that any payment due hereunder is not made when due, the payment shall accrue
interest beginning on the tenth day following the due date thereof, calculated at the annual rate of the sum of (a) two percent (2%) plus (b) the prime interest rate quoted by The Wall Street Journal on the date said payment is due,
the interest being compounded on the last day of each calendar quarter, provided however, that in no event shall said annual interest rate exceed the maximum legal interest rate for corporations. Each such payment when made shall be accompanied by
all interest so accrued. Said interest and the payment and acceptance thereof shall not negate or waive the right of JHU to seek any other remedy, legal or equitable, to which it may be entitled because of the delinquency of any payment including,
but not limited to termination of this Agreement as set forth in Paragraph 9.2. 
  

 [***] 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. 
  

 Page 6 

 ARTICLE 4 
 PATENT PROSECUTION, MAINTENANCE, & INFRINGEMENT 
 4.1     Prosecution & Maintenance.    Company, at its own expense, shall file, prosecute and maintain all patens and patent applications specified under PATENT RIGHTS and Company
shall be licensed thereunder. Title to all such patents and patent applications shall reside in JHU. Company shall control over all patent matters in connection therewith under the PATENT RIGHTS, subject to review and approval by JHU, such approval
not to be unreasonably withheld, and shall keep JHU informed of its actions by sending copies of all filings with the PTO to JHU. In any country where Company elects not to have a patent application filed or fails to prosecute or maintain a patent
application or patent, JHU may file, prosecute, and/or maintain a patent application or patent at its own expense and for its own exclusive benefit and Company thereafter shall not be licensed under such patent or patent application. 
 4.2    Notification.    Each party will notify the other promptly in writing
when any infringement by another is uncovered or suspected. 
 4.3    Infringement.    Company shall have the first right to enforce any patent within PATENT RIGHTS against any infringement or alleged infringement thereof, and shall at all times keep JHU
informed as to the status thereof. Before Company commences an action with respect to any infringement of such patents, Company shall give careful consideration to the views of JHU and to potential effects on the public interest in making its
decision whether or not to sue. Thereafter, Company may, at its own expense, institute suit against any such infringer or alleged infringer and control and defend such suit in a manner consistent with the terms and provisions hereof and recover any
damages, awards or settlements resulting therefrom, subject to Paragraph 4.5. However, no settlement, consent judgment or other voluntary final disposition of the suit may be entered into without the prior written consent of JHU, which consent shall
not be unreasonably withheld. This right to sue for infringement shall not be used in an arbitrary or capricious manner. JHU shall reasonably cooperate in any such litigation at Company’s expense. 
 If Company elects not to enforce any patent within the PATENT RIGHTS, then it shall so notify JHU in writing within ninety (90) days of
receiving notice that an infringement exists, and JHU may, in its sole judgment and at its own expense, take steps to enforce any patent and control, settle, and defend such suit in a manner consistent with the terms and provisions hereof, and
recover, for its own account, any damages, awards or settlements resulting therefrom. 
 4.4    Patent Invalidity Suit.    If a declaratory judgment action is brought naming Company as a defendant and alleging invalidity of any of the PATENT RIGHTS, JHU may elect to take over the
sole defense of the action at its own expense. Company shall cooperate fully with JHU in connection with any such action. 
 4.5    Recovery.    Any recovery by Company under Paragraph 4.3 shall be deemed to reflect loss of commercial sales, and Company shall pay to JHU [***] of
the recovery net of all reasonable costs and expenses associated with each suit or settlement. If the cost and expenses exceed the recovery, then [***] of the excess shall be credited against royalties payable by Company to JHU hereunder in
connection with sales of LICENSED PRODUCT

  

 [***] 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. 
  

 Page 7 

 
covered in the PATENT RIGHTS which are the subject of the infringement suit, in the country of such legal proceedings, provided, however, that any such credit under this Paragraph shall not
exceed [***] of the royalties otherwise payable to JHU with regard to sales in the country of such action in any one calendar year, with any excess credit being carried forward to future calendar years. 
 ARTICLE 5 
 OBLIGATIONS OF THE PARTIES 
 5.1     Reports.    Company shall provide to JHU the following written reports according to the following schedules. 
 (a) Company shall provide quarterly Royalty Reports, substantially in the format of Exhibit B and due within thirty
(30) days of the end of each calendar quarter following the EFFECTIVE DATE of this Agreement. Royalty Reports shall disclose the amount of LICENSED PRODUCT(S) and LICENSED SERVICE(S) sold, the total NET SALES and NET SERVICE REVENUES of such
LICENSED PRODUCT(S) and LICENSED SERVICE(S), and the running royalties due to JHU as a result of NET SALES and NET SERVICE REVENUES by Company, AFFILIATED COMPANIES and SUBLICENSEE(S) thereof. Payment of any such royalties due shall accompany such
Royalty Reports. 
 (b) Until Company, an AFFILIATED COMPANY or a SUBLICENSEE(S) has achieved a first commercial
sale of a LICENSED PRODUCT or LICENSED SERVICE, or received FDA market approval, Company shall provide semiannual Diligence Reports, due within thirty (30) days of the end of every June and December following the EFFECTIVE DATE of this
Agreement. These Diligence Reports shall describe Company’s, AFFILIATED COMPANIES or any SUBLICENSEE(S)’s technical efforts towards meeting its obligations under the terms of this Agreement. 
 (c) Company shall provide Annual Reports within thirty (30) days of the end of every December following the EFFECTIVE
DATE of this Agreement. Annual Reports shall include: 
 (i) evidence of insurance as required under Paragraph
10.4, or, a statement of why such insurance is not currently required, and 
 (ii) identification of all
AFFILIATED COMPANIES which have exercised rights pursuant to Paragraph 2.1, or, a statement that no AFFILIATED COMPANY has exercised such rights, and 
 (iii) notice of all FDA approvals of any LICENSED PRODUCT(S) or LICENSED SERVICE(S) obtained by COMPANY, AFFILIATED COMPANY or SUBLICENSEE, the patent(s) or patent application(s) licensed under this
Agreement upon which such product or service is based, and the commercial name of such product or service, or, in the alternative, a statement that no FDA approvals have been obtained. 
 5.2    Records. Company shall make and retain, for a period of three (3) years following the period of each
report required by Paragraph 5.1, true and accurate records, files and books of account containing all the data reasonably required for the full computation and verification of

  

 [***] 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. 
  

 Page 8 

 
sales and other information required in Paragraph 5.1. Such books and records shall be in accordance with generally accepted accounting principles consistently applied. Company shall permit the
inspection and copying of such records, files and books of account by JHU or its agents during regular business hours upon ten (10) business days’ written notice to Company. Such inspection shall not be made more than once each calendar
year. All costs of such inspection and copying shall be paid by JHU, provided that if any such inspection shall reveal that an error has been made in the amount equal to five percent (5%) or more of such payment, such costs shall be borne by
Company. As a condition to entering into any such agreement, Company shall include in any agreement with its AFFILIATED COMPANIES or its SUBLICENSEE(S) which permits such party to make, use, sell or import the LICENSED PRODUCT(S) or provide LICENSED
SERVICE(S), a provision requiring such party to retain records of sales of LICENSED PRODUCT(S) and records of LICENSED SERVICE(S) and other information as required in Paragraph 5.1 and permit JHU to inspect such records as required by this
Paragraph. 
 5.3    Reasonable Efforts.      Company
shall exercise commercially reasonable efforts to develop and to introduce the LICENSED PRODUCT(S) and/or LICENSED SERVICE(S) into the commercial market as soon as practicable, consistent with sound and reasonable business practice and judgment;
thereafter, until the expiration or termination of this Agreement, Company shall endeavor to keep LICENSED PRODUCT(S) and/or LICENSED SERVICE(S) reasonably available to the public. Company shall also exercise reasonable efforts to develop LICENSED
PRODUCT(S) suitable for different indications within the LICENSED FIELD, so that the PATENT RIGHTS can be commercialized as broadly and as speedily as good scientific and business judgment would deem possible. 
 5.4    [***] 
 5.5    Patent Acknowledgement. Company agrees that all packaging containing individual LICENSED PRODUCT(S) sold by Company, AFFILIATED COMPANIES and
SUBLICENSEE(S) of Company will be marked with the number of the applicable patent(s) licensed hereunder in accordance with each country’s patent laws. 
  

 [***] 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. 
  

 Page 9 

 ARTICLE 6 
 REPRESENTATIONS 
 6.1  Duties of the
Parties.    JHU is not a commercial organization. It is an institute of research and education. Therefore, JHU has no ability to evaluate the commercial potential of any PATENT RIGHTS or LICENSED PRODUCT or other license or
rights granted in this Agreement. It is therefore incumbent upon Company to evaluate the rights and products in question, to examine the materials and information provided by JHU, and to determine for itself the validity of any PATENT RIGHTS, its
freedom to operate, and the value of any LICENSED PRODUCTS or SERVICES or other rights granted. 
 6.2  Representations by JHU. JHU warrants that it has good and marketable title to its interest in the inventions claimed under PATENT RIGHTS with the exception of certain retained rights of the United States Government,
which may apply if any part of the JHU research was funded in whole or in part by the United States Government. JHU does not warrant the validity of any patents or that practice under such patents shall be free of infringement. EXCEPT AS EXPRESSLY
SET FORTH IN THIS PARAGRAPH 6.2, COMPANY, AFFILIATED COMPANIES AND SUBLICENSEE(S) AGREE THAT THE PATENT RIGHTS ARE PROVIDED “AS IS”, AND THAT JHU MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE PERFORMANCE OF LICENSED PRODUCT(S)
AND LICENSED SERVICE(S) INCLUDING THEIR SAFETY, EFFECTIVENESS, OR COMMERCIAL VIABILITY. JHU DISCLAIMS ALL WARRANTIES WITH REGARD TO PRODUCT(S) AND SERVICE(S) LICENSED UNDER THIS AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES, EXPRESSED OR
IMPLIED, OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, JHU ADDITIONALLY DISCLAIMS ALL OBLIGATIONS AND LIABILITIES ON THE PART OF JHU AND INVENTORS, FOR DAMAGES, INCLUDING, BUT NOT
LIMITED TO, DIRECT, INDIRECT, SPECIAL, AND CONSEQUENTIAL DAMAGES, ATTORNEYS’ AND EXPERTS’ FEES, AND COURT COSTS (EVEN IF JHU HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, FEES OR COSTS), ARISING OUT OF OR IN CONNECTION WITH THE
MANUFACTURE, USE, OR SALE OF THE PRODUCT(S) AND SERVICE(S) LICENSED UNDER THIS AGREEMENT. COMPANY, AFFILIATED COMPANIES AND SUBLICENSEE(S) ASSUME ALL RESPONSIBILITY AND LIABILITY FOR LOSS OR DAMAGE CAUSED BY A PRODUCT AND/OR SERVICE MANUFACTURED,
USED, OR SOLD BY COMPANY, ITS SUBLICENSEE(S) AND AFFILIATED COMPANIES WHICH IS A LICENSED PRODUCT(S) OR LICENSED SERVICE(S) AS DEFINED IN THIS AGREEMENT. 
 ARTICLE 7 
 INDEMNIFICATION 
 7.1 Indemnification. JHU and the Inventors will have no legal liability exposure to third parties if JHU does not
license the LICENSED PRODUCT(S) and LICENSED SERVICE(S), and any royalties JHU and the Inventors may receive is not adequate compensation for such legal liability exposure. Therefore, JHU requires Company to protect JHU and Inventors from such

  

 Page 10 

 
exposure to the same manner and extent to which insurance, if available, would protect JHU and Inventors. Furthermore, JHU and the Inventors will not, under the provisions of this Agreement or
otherwise, have control over the manner in which Company or its AFFILIATED COMPANIES or its SUBLICENSEE(S) or those operating for its account or third parties who purchase LICENSED PRODUCT(S) or LICENSED SERVICE(S) from any of the foregoing
entities, develop, manufacture, market or practice the inventions of LICENSED PRODUCT(S) and LICENSED SERVICE(S). Therefore, Company, AFFILIATED COMPANY and SUBLICENSEE shall indemnify, defend with counsel reasonably acceptable to JHU, and hold JHU,
The Johns Hopkins Health Systems, their present and former trustees, officers, Inventors of PATENT RIGHTS, agents, faculty, employees and students harmless as against any judgments, fees, expenses, or other costs arising from or incidental to any
product liability or other lawsuit, claim, demand or other action brought as a consequence of the practice of said inventions by any of the foregoing entities, whether or not JHU or said Inventors, either jointly or severally, is named as a party
defendant in any such lawsuit and whether or not JHU or the Inventors are alleged to be negligent or otherwise responsible for any injuries to persons or property. Practice of the inventions covered by LICENSED PRODUCT(S) and LICENSED SERVICE(S), by
an AFFILIATED COMPANY or an agent or a SUBLICENSEE(S) or a third party on behalf of or for the account of Company or by a third party who purchases LICENSED PRODUCT(S) and LICENSED SERVICE(S) from Company, shall be considered Company’s practice
of said inventions for purposes of this Paragraph. The obligation of Company to defend and indemnify as set out in this Paragraph shall survive the termination of this Agreement, shall continue even after assignment of rights and responsibilities to
an affiliate or sublicensee, and shall not be limited by any other limitation of liability elsewhere in this Agreement. 
 ARTICLE 8 
 CONFIDENTIALITY 
 8.1    Confidentiality. If necessary, the parties will exchange information, which they consider to be confidential. The recipient of such information
agrees to accept the disclosure of said information which is marked as confidential at the time it is sent to the recipient, and to employ all reasonable efforts to maintain the information secret and confidential, such efforts to be no less than
the degree of care employed by the recipient to preserve and safeguard its own confidential information. The information shall not be disclosed or revealed to anyone except employees of the recipient who have a need to know the information and who
have entered into a secrecy agreement with the recipient under which such employees are required to maintain confidential the proprietary information of the recipient and such employees shall be advised by the recipient of the confidential nature of
the information and that the information shall be treated accordingly. 
 The obligations of this Paragraph
shall also apply to AFFILIATED COMPANIES and/or SUBLICENSEE(S) provided such information by Company. JHU’s, Company’s, AFFILIATED COMPANIES, and SUBLICENSEES’ obligations under this Paragraph shall extend until three (3) years
after the termination of this Agreement. 
 8.2    Exceptions. The recipient’s
obligations under Paragraph 8.1 shall not extend to any part of the information: 
  

	 	a.	 that can be demonstrated to have been in the public domain or publicly known and readily available to the trade or the public prior to the
date of the disclosure; or 

  

 Page 11 

	 	b.	 that can be demonstrated, from written records to have been in the recipient’s possession or readily available to the recipient from
another source not under obligation of secrecy to the disclosing party prior to the disclosure; or 

  

	 	c.	 that becomes part of the public domain or publicly known by publication or otherwise, not due to any unauthorized act by the recipient; or

  

	 	d.	 that is demonstrated from written records to have been developed by or for the receiving party without reference to confidential information
disclosed by the disclosing party. 

  

	 	e.	 that is required to be disclosed by law, government regulation or court order. 

 8.3 Right to Publish. JHU may publish manuscripts, abstracts or the like describing the PATENT RIGHTS and
inventions contained therein provided confidential information of Company as defined in Paragraph 8.1, is not included or without first obtaining approval from Company to include such confidential information. Otherwise, JHU and the Inventors shall
be free to publish manuscripts and abstracts or the like directed to the work done at JHU related to the licensed technology without prior approval. 
 ARTICLE 9 
 TERM & TERMINATION 
 9.1    Term. The term of this Agreement shall commence on the EFFECTIVE DATE and shall continue,
in each country, until the date of expiration of the last to expire patent included within PATENT RIGHTS in that country or if no patents issue then for a term of twenty (20) years from the EFFECTIVE DATE of this Agreement. 

9.2    Termination By Either Party. This Agreement may be terminated by either party, in the
event that the other party (a) files or has filed against it a petition under the Bankruptcy Act, makes an assignment for the benefit of creditors, has a receiver appointed for it or a substantial part of its assets, or otherwise takes
advantage of any statute or law designed for relief of debtors or (b) fails to perform or otherwise breaches any of its obligations hereunder, if, following the giving of notice by the terminating party of its intent to terminate and stating
the grounds therefor, the party receiving such notice shall not have cured the failure or breach within thirty (30) days. In no event, however, shall such notice or intention to terminate be deemed to waive any rights to damages or any other
remedy which the party giving notice of breach may have as a consequence of such failure or breach. 
 9.3    Termination by Company. Company may terminate this Agreement and the license granted herein, for any reason, upon giving JHU ninety (90) days written notice. 
  

 Page 12 

 9.4  Obligations and Duties upon Termination. If this
Agreement is terminated, both parties shall be released from all obligations and duties imposed or assumed hereunder to the extent so terminated, except as expressly provided to the contrary in this Agreement. Upon termination, both parties shall
cease any further use of the confidential information disclosed to the receiving party by the other party. Termination of this Agreement, for whatever reason, shall not affect the obligation of either party to make any payments for which it is
liable prior to or upon such termination. Termination shall not affect JHU’s right to recover unpaid royalties, fees, reimbursement for patent expenses, or other forms of financial compensation incurred prior to termination. Upon termination
Company shall submit a final royalty report to JHU and any royalty payments, fees, unreimbursed patent expenses and other financial compensation due JHU shall become immediately payable. Furthermore, upon termination of this Agreement, all rights in
and to the licensed technology shall revert immediately to JHU at no cost to JHU. Upon termination of this Agreement, any SUBLICENSEE(S) shall become a direct licensee of JHU, provided that JHU’s obligations to SUBLICENSEE(S) are no greater
than JHU’s obligations to Company under this Agreement. Company shall provide written notice of such to each SUBLICENSEE(S) with a copy of such notice provided to JHU. 
 ARTICLE 10 
 MISCELLANEOUS 
 10.1    Use of Name. Company, AFFILIATED COMPANIES and SUBLICENSEE(S) shall not use the
name of The Johns Hopkins University or The Johns Hopkins Health System or any of its constituent parts, such as the Johns Hopkins Hospital or any contraction thereof or the name of Inventors in any advertising, promotional, sales literature or
fundraising documents without prior written consent from an authorized representative of JHU. Company, AFFILIATED COMPANIES and SUBLICENSEE(S) shall allow at least seven (7) business days notice of any proposed public disclosure for JHU’s
review and comment or to provide written consent. 
 10.2  No Partnership. Nothing in
this Agreement shall be construed to create any agency, employment, partnership, joint venture or similar relationship between the parties other than that of a licensor/licensee. Neither party shall have any right or authority whatsoever to incur
any liability or obligation (express or implied) or otherwise act in any manner in the name or on the behalf of the other, or to make any promise, warranty or representation binding on the other. 
 10.3  Notice of Claim. Each party shall give the other or its representative immediate notice of any
suit or action filed, or prompt notice of any claim made, against them arising out of the performance of this Agreement or arising out of the practice of the inventions licensed hereunder. 
 10.4  Product Liability. Prior to initial human testing or first commercial sale of any LICENSED
PRODUCT(S) or LICENSED SERVICE(S) as the case may be in any particular country, Company shall establish and maintain, in each country in which Company, an AFFILIATED COMPANY or SUBLICENSEE(S) shall test or sell LICENSED PRODUCT(S) and LICENSED
SERVICE(S), product liability or other appropriate insurance coverage in the

  

 Page 13 

 
minimum amount of five million dollars ($5,000,000) per claim and will annually present evidence to JHU that such coverage is being maintained. Upon JHU’s request, Company will furnish JHU
with a Certificate of Insurance of each product liability insurance policy obtained. JHU shall be listed as an additional insured in Company’s said insurance policies. If such Product Liability insurance is underwritten on a ‘claims
made’ basis, Company agrees that any change in underwriters during the term of this Agreement will require the purchase of ‘prior acts’ coverage to ensure that coverage will be continuous throughout the term of this Agreement.

 10.5  Governing Law. This Agreement shall be construed, and legal relations between the
parties hereto shall be determined, in accordance with the laws of the State of Maryland applicable to contracts solely executed and wholly to be performed within the State of Maryland without giving effect to the principles of conflicts of laws.
Any disputes between the parties to the Agreement shall be brought in the state or federal courts of Maryland. Both parties agree to waive their right to a jury trial. 
 10.6  Notice. All notices or communication required or permitted to be given by either party hereunder shall be deemed sufficiently given if mailed by registered
mail or certified mail, return receipt requested, or sent by overnight courier, such as Federal Express, to the other party at its respective address set forth below or to such other address as one party shall give notice of to the other from time
to time hereunder. Mailed notices shall be deemed to be received on the third business day following the date of mailing. Notices sent by overnight courier shall be deemed received the following business day. 
  

			
	 If to Company:
	  	   Attn: Kim Jenkins

		  	   200 N. Cobb Parkway, Suite 140

		  	   Marietta, Georgia 30062-3585

		
		  	 Cc: Julie H. Richardson
 Myers Bigel Sibley & Sajovec, P.A.
 4140 Parklake Ave., Suite 600
 Raleigh, NC 27612

		
	 If to JHU:
	  	   Technology Transfer
   Johns Hopkins University
   100 N.Charles Street

  5th Floor
   Baltimore, MD 21201
   Attn: Director

 10.7  Compliance with All Laws. In all activities
undertaken pursuant to this Agreement, both JHU and Company covenant and agree that each will in all material respects comply with such Federal, state and local laws and statutes, as may be in effect at the time of performance and all valid rules,
regulations and orders thereof regulating such activities.

  

 Page 14 

 
Successors and Assigns. Neither this Agreement nor any of the rights or obligations created herein, except for the right to receive any remuneration hereunder, may be assigned by either
party, in whole or in part, without the prior written consent of the other party, except that either party shall be free to assign this Agreement in connection with any sale of substantially all of its assets without the consent of the other. Such
assignment shall be subject to JHU approval, which approval shall not be unreasonably withheld. This Agreement shall bind and inure to the benefit of the successors and permitted assigns of the parties hereto. 
 10.8  No Waivers; Severability. No waiver of any breach of this Agreement shall constitute a waiver
of any other breach of the same or other provision of this Agreement, and no waiver shall be effective unless made in writing. Any provision hereof prohibited by or unenforceable under any applicable law of any jurisdiction shall as to such
jurisdiction be deemed ineffective and deleted herefrom without affecting any other provision of this Agreement. It is the desire of the parties hereto that this Agreement be enforced to the maximum extent permitted by law, and should any provision
contained herein be held by any governmental agency or court of competent jurisdiction to be void, illegal and unenforceable, the parties shall negotiate in good faith for a substitute term or provision which carries out the original intent of the
parties. 
 10.10    Entire Agreement; Amendment. Company and JHU acknowledge
that they have read this entire Agreement and that this Agreement, including the attached Exhibits constitutes the entire understanding and contract between the parties hereto and supersedes any and all prior or contemporaneous oral or written
communications with respect to the subject matter hereof, all of which communications are merged herein. It is expressly understood and agreed that (i) there being no expectations to the contrary between the parties hereto, no usage of trade,
verbal agreement or another regular practice or method dealing within any industry or between the parties hereto shall be used to modify, interpret, supplement or alter in any manner the express terms of this Agreement; and (ii) this Agreement
shall not be modified, amended or in any way altered except by an instrument in writing signed by both of the parties hereto. 
 10.11    Delays or Omissions. Except as expressly provided herein, no delay or omission to exercise any right, power or remedy accruing to any party hereto, shall impair
any such right, power or remedy to such party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or in any similar breach or default be deemed a waiver of any other breach or default theretofore or
thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement,
must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 
 10.12    Force Majeure. If either party fails to fulfill its obligations hereunder (other
than an obligation for the payment of money), when such failure is due to an act of God, or other circumstances beyond its reasonable control, including but not limited to fire, flood, civil commotion, riot, war (declared and undeclared),
revolution, or embargoes, then said failure shall be excused for the duration of such event and for such a time thereafter as is reasonable to enable

  

 Page 15 

 
the parties to resume performance under this Agreement, provided however, that in no event shall such time extend for a period of more than one hundred eighty (180) days. 
 10.13      Further Assurances. Each party shall, at any time, and from time to time,
prior to or after the EFFECTIVE DATE of this Agreement, at reasonable request of the other party, execute and deliver to the other such instruments and documents and shall take such actions as may be required to more effectively carry out the terms
of this Agreement. 
 10.14      Survival. All representations,
warranties, covenants and agreements made herein and which by their express terms or by implication are to be performed after the execution and/or termination hereof, or are prospective in nature, shall survive such execution and/or termination, as
the case may be. This shall include Paragraphs 3.7 (Late Payments), 5.2 (Records), and Articles 6, 7, 8, 9, and 10. 
 10.15      No Third Party Beneficiaries. Nothing in this Agreement shall be construed as giving any person, firm, corporation or other entity, other than the parties
hereto and their successors and permitted assigns, any right, remedy or claim under or in respect of this Agreement or any provision hereof. 
 10.16      Headings. Article headings are for convenient reference and not a part of this Agreement. All Exhibits are incorporated herein by this reference. 

 10.17      Counterparts. This Agreement may be executed in counterparts,
each of which shall be deemed an original and all of which when taken together shall be deemed but one instrument. 
 IN WITNESS WHEREOF, this Agreement shall take effect as of the EFFECTIVE DATE when it has been executed below by the duly authorized representatives of the parties. 
  

					
	 THE JOHNS HOPKINS UNIVERSITY
	 		  	   -COMPANY NAME–

		 		  	   SurgiVision

	 /s/ Wesley D. Blakeslee
	 		  	   /s/ Kim Jenkins

	 Wesley D. Blakeslee
	 		  	   Name: Kim Jenkins

	 Director
	 		  	   Title: President

	 Johns Hopkins Technology Transfer
	 		  	
	 11/30/06
	 		  	   12/7/06

	 (Date)
	 		  	   (Date)

 EXHIBIT A. LICENSE FEE & ROYALITIES. 
 EXHIBIT B. SALES & ROYALTY REPORT FORM. 
  

 Page 16 

 EXHIBIT A 
 LICENSE FEE & ROYALTIES 
  

	1.	 License Fee: The license fee due under Paragraph 3.1 is [***]. 

  

	2.	 Minimum Annual Royalties: The minimum annual royalties pursuant to Paragraph 3.2 is [***]. 

  

	3.	 Royalties: The running royalty rate payable under Paragraph 3.3 is [***]. 

  

	4.	 Sublicense consideration: The percent sublicense consideration payable under Paragraph 3.4 is [***].

 [***] 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. 
  

 Page 17 

 EXHIBIT B 
 QUARTERLY SALES & ROYALTY REPORT 
 FOR
LICENSE AGREEMENT BETWEEN                                  AND

 THE JOHNS HOPKINS UNIVERSITY DATED 
  
  
 FOR PERIOD
OF                                  TO     
                      
 TOTAL ROYALTIES DUE FOR THIS PERIOD $                                

  

													
	 PRODUCT  
 ID
	  	PRODUCT NAME 	  	 *JHU
 REFERENCE  
	  	1st COMMERCIAL  
SALE DATE	  	TOTAL
NET
SALES/SERVICES  	  	 ROYALTY  
 RATE
	  	AMOUNT  
DUE
	      
	  	 	  	 	  	 	  	 	  	 	  	 
	      
	  	 	  	 	  	 	  	 	  	 	  	 
	      
	  	 	  	 	  	 	  	 	  	 	  	 
	      
	  	 	  	 	  	 	  	 	  	 	  	 
	      
	  	 	  	 	  	 	  	 	  	 	  	 
	      
	  	 	  	 	  	 	  	 	  	 	  	 

 * Please provide the JHU Reference Number or Patent Reference

 This report format is to be used to report quarterly royalty statements to JHU. It should be placed on
Company letterhead and accompany any royalty payments due for the reporting period. This report shall be submitted even if no sales are reported. 
  

 Page 18

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