Document:

EX-10.16

 Exhibit 10.16 

Rani Management Services, Inc. - InCube Labs, LLC 

SERVICE AGREEMENT 
 This
service agreement (this “Agreement”), is made and entered into effective as of January 1, 2021 (the “Effective Date”) by and between InCube Labs, LLC, a Delaware limited liability company
(“InCube”), and Rani Management Services, Inc., a Delaware corporation (“RMS”), each a “Party” and collectively the “Parties.” 

WHEREAS, each Party is, or may be, desirous of providing to, and/or receiving from, the other Party certain services; 

NOW, THEREFORE, in consideration of the mutual promises contained herein, the Parties agree as follows: 

1. Services. Either Party (as “Provider” of services) may provide any one or more of the following services to the
other Party (as “Recipient” of the services) during the Term of this Agreement: 
 1.1 Provider (as landlord) may allow
Recipient and/or its affiliates (any and all, collectively, as tenant) to occupy a portion of Provider’s facilities (“Occupancy Services”). Herein, the portion of the facilities agreed upon with respect to Occupancy Services is
referred to as the “Premises”, the portion of the Premises which will be exclusive to Recipient is referred to as the “Exclusive Portion”, and the portion of the Premises which will be shared with Provider or its
affiliates or other tenants is referred to as the “Shared Portion”. 
 1.1.1 So long as there is no Event of Default with
Recipient as the Breaching Party, Recipient will have access to the Premises twenty-four (24) hours a day, seven (7) days a week throughout the Term unless otherwise specified on an exhibit hereto. 

1.1.2 Recipient will not permit the existence, maintenance, or commission, of any act, omission, or condition at the Premises by Recipient, or
by its employees, agents, invitees, contractors, or vendors (“Recipient’s Invitees”), that may constitute nuisance, unlawful acts, or unreasonable annoyance to other persons at or neighboring the Premises. 

1.1.3 To the extent that Provider is not reimbursed by insurance proceeds, Recipient will reimburse Provider for the cost of repairing damage
caused by the acts or omissions of Recipient or Recipient’s Invitees, including an increase in the cost of insurance resulting from the damage if applicable. 

1.1.4 Recipient agrees at all times during the Term, at its own expense, to maintain the Exclusive Portion in good and tenantable condition.

 1.1.5 Recipient agrees at all times during the Term, at its own expense, to maintain (including repairing or replacing as needed) any
item installed or provided for the exclusive use or benefit of Recipient, including as applicable and without limitation any equipment, backup generator, HVAC system, special flooring, fiber and other cabling, phone equipment, and data equipment.

 1.1.6 Recipient will not make any alterations to the Premises without the prior written consent of Provider which consent will not be
unreasonably withheld. Any alterations made by Recipient will be in accordance with the applicable laws, rules, codes, and regulations of the city, county, and state in which the Premises are located. 

1.1.7 Recipient will not allow the Premises to be used in any manner that will harm or impair the structural strength of any building, nor
allow to be installed or operated on the Premises any machinery or apparatus whose size, weight, vibration, or other aspect would harm or impair the structural strength of any building. Recipient will not place a heavy load upon the floor or roof of
any building at the Premises without Provider’s prior written consent. Machines and mechanical equipment used by Recipient which cause vibration or noise that may be transmitted to or within any building structure to such a degree as to be
reasonably objectionable to Provider will be placed and maintained by Recipient at its expense in a manner to prevent/eliminate such vibration or noise. 

  

					
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 1.1.8 Recipient will comply, at its sole cost, with any laws, regulations, ordinances,
codes, certificate of occupancy, certificate of compliance, permit, easement, condition, covenant, or restriction covering or affecting Recipient’s use or occupancy of the Premises. 

1.1.9 Recipient will comply, at its sole cost, with all restrictions imposed by any insurance company insuring the Premises, to the extent
that the restrictions concern Recipient’s use or occupancy of the Premises. 
 1.1.10 Recipient will, at its sole cost, make any
alteration, addition, or change to the Premises as may be required as a result of Recipient’s application or registration for any permit or governmental approval, provided that Provider may elect to make same, in which case Recipient will
reimburse Provider promptly upon demand for all costs of Provider’s making same. 
 1.1.11 Subject to the foregoing provisions,
Provider will keep and maintain in good condition: the roof, exterior walls, structural floor, and other structural parts of the Premises; pipes and conduits outside the Premises that furnish the Premises with various utilities (except to the extent
that the same are the obligations of the appropriate utility company); and HVAC systems which service the Building in common; provided, however, that Provider will not be required to make repairs, and Recipient will pay for any repairs made, if
necessitated by (i) the negligence or willful misconduct of Recipient or Recipient’s Invitees, (ii) the failure of Recipient to perform or observe any terms or conditions of this Agreement, (iii) alterations, additions, or
improvements made by or on behalf of Recipient, or (iv) intentional acts or omissions of Recipient or Recipient’s Invitees. 

1.1.12 Provider will be under no obligation to make any repairs, alterations, renewals, replacements or improvements to and upon the Premises
or the mechanical equipment serving the Premises at any time except as this Agreement expressly provides. 
 1.2 The Parties will share
operating costs to the extent that such operating costs are attributable to the Shared Portion (“Shared Costs”). 
 1.2.1
Interior. Shared Costs will include sums expended for maintenance and repair of (without limitation): floor, wall, and ceiling surfaces; lighting, plumbing, and electrical systems; telephone systems; data networks; security systems; emergency
lighting systems; emergency notification systems; fire protection systems; and directional signs. For a system with portions interior and exterior to a building, sums expended for maintenance and repair of the portion of the system extending outside
any exterior wall of the building are excluded from Shared Costs. 
 1.2.2 Exterior. Shared Costs will include sums expended for
maintenance and repair of (without limitation): building signs; sprinkler systems; landscaping including planters and decorative items; tables and seating; exterior lighting; and parking, sidewalks, and curbs (including resurfacing, painting,
striping, and cleaning but excluding resurfacing). 
 1.2.3 Third-party services. Shared Costs will include sums expended for
continuing third party services such as (without limitation): security services; janitorial services; landscape maintenance services; and onsite healthcare services. 

1.2.4 Office supplies. Shared Costs will include sums expended for office supplies including (without limitation): writing utensils;
writing paper and books; printing and copying paper; printer toner and ink; kitchen supplies; restroom supplies; and decorations (including seasonal). 

  
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 1.2.5 Other. Shared Costs will include sums expended for: emergency services; and
utility connection and use. 
 1.2.6 Exclusions. Shared Costs exclude sums expended for rebuilding or complete replacement of the
structural portions of the buildings of the Premises; provided, however, that to the extent such rebuilding or replacement is due to damage attributable to Recipient or Recipient’s Invitees (but not normal wear and tear), such sums will be
treated under Section 1.1.3 above. 
 1.3 Provider may provide certain general or administrative services to Recipient upon request,
subject to availability of resources (“Administrative Services”). Administrative Services may include but will not be limited to services related to accounting, human resources, recruiting, banking, facilities, office services,
administration, data security, and/or information technology (IT). 
 1.4 Provider may provide personnel services other than those provided
as Administrative Services to Recipient upon request, subject to availability of resources (“Personnel Services”). These services may include but will not be limited to services related to prototype development, manufacturing
process development, formulation of drugs, in-vitro studies, in-vivo studies, project management, documentation, purchasing, quality control, quality assurance,
intellectual property, legal, regulatory, investor relations, and/or business development. 
 1.5 From time to time, one Party may incur
additional costs on behalf of the other Party to accommodate special requests of that other Party (“Special Services”). Non-limiting examples of such requests include purchase of equipment,
modification to existing labs, construction of new labs, construction of clean rooms, construction of office space, other facility modifications, development and/or manufacture of test equipment, development and/or manufacture of components,
development of processes, financial audits, special accounting projects, system implementation and validation, implementation of manufacturing and quality control processes, and securing funding for that other Party. 

1.6 This Agreement is a master agreement, with the agreed Services to be provided set out in Exhibit A attached hereto and made a part hereof.
Neither Party will have an obligation to perform any service unless set forth as an obligation on Exhibit A. 
 2. Changes to the
Services. 
 2.1 If a Party wishes to make a change to the terms of any service, it will provide to the other Party in writing the
details of the requested change, including the proposed timing of the change and its expected impact on the delivery of the service and cost. The Parties will consider the requested change in good faith, but neither Party will be obligated to accept
any requested change to the service. If the Parties are willing to accept the requested change, the Parties will negotiate in good faith the changed terms and conditions, which will be set out on an amended Exhibit A adopted in accordance with
Section 16.2. 
 2.2 Recipient may from time to time request that Provider provide an additional service that is not included on Exhibit
A. Provider will consider each such request in good faith. If Provider is willing to provide such additional service, the Parties will negotiate in good faith the terms and conditions for such additional service. Any such additional service will be
set out on an amended Exhibit A adopted in accordance with Section 16.2. 
 2.3 The obligation of Provider to provide a service to
Recipient will terminate (with respect to that service) on the end date specified on Exhibit A for that service (the “End Date” for that service); provided, however, that Recipient may request continued performance after the
scheduled End Date (an “Extension Request” for that service). Provider will consider any Extension Request in good faith and, if willing to continue performance after the scheduled End Date, the Parties will negotiate in good faith
the terms and conditions for the continuation of that service, which will be set out on an amended Exhibit A adopted in accordance with Section 16.2. If no End Date is specified for a particular service, then the End Date for that service will
be the earlier of the date of expiration or termination of Exhibit A or the date of expiration or termination of this Agreement. 

  
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 3. Invoice and Payment. 

3.1 Charges for services described in Section 1 will be as set forth on Exhibit A. 

3.2 In exchange for services provided as described under Section 1, to the extent that Provider has performed services, Provider can
invoice Recipient for such services in accordance with Exhibit A. Each invoice will include, as applicable, relevant documentation and paperwork substantiating the invoiced charges. 

3.3 If Provider or any of its Subcontractors (as defined herein) incurs reasonable and documented out-of-pocket expenses in providing any service to Recipient (“Out-of-Pocket Costs”), Recipient will reimburse
Provider for such Out-of-Pocket Costs in accordance with the invoicing and payment procedures set out in this Section 3; provided, however, that, except as
otherwise specified on Exhibit A, Out-of-Pocket Costs will exclude any fees payable to any Subcontractor for providing any service.
Non-limiting examples of Out-of-Pocket Costs include recruitment expenses, subscription fees, meals and entertainment expenses,
advisory board meeting expenses, software licensing fees, and banking fees, to the extent necessitated by provision of the services. 
 3.4
Each Party will remit payment on a received invoice within thirty (30) days of the invoice being delivered. An invoice will be deemed to be delivered when sent via email or facsimile or delivered by hand, or three days after submission to a
delivery service for delivery. 
 3.5 If Recipient disputes the amount of an invoice, Recipient will deliver a written statement to Provider
not later than five days before the payment due date listing all disputed items and describing in reasonable detail the reasons for dispute with respect to each item disputed. Any amounts not so disputed will be deemed accepted and payable (despite
disputes on other items) as provided in Section 3.4. The Parties will seek to resolve all such disputes expeditiously and in good faith. 

3.6 Any undisputed invoice not paid within thirty (30) days of the invoice being delivered will accrue interest on the amount past due at
a rate of one percent (1%) per month thereafter, or the highest rate permitted by applicable law, whichever is less, from the due date until the date that the invoicing Party receives payment of such past due amount. Each Party also agrees to pay
reasonable attorneys’ fees and other costs of collection incurred with respect to any past due amount. 
 3.7 During the Term of this
Agreement and for two (2) years thereafter, each Party agrees to maintain accurate books and records related to services provided to the other Party. Upon reasonable written request during the Term of this Agreement and for two (2) years
thereafter, each Party will make such books and records available to the other Party or its representatives (at that other Party’s sole expense) during the regular business hours of the location at which the books and records are made
available. 
 3.8 The prices set out for the services are exclusive of taxes. Recipient will be responsible for all sales, goods, use,
services, excise, value added, and other similar transactions taxes imposed or assessed in connection with the provision of the services. Recipient will pay Provider without any deductions made for taxes of any kind, and will pay any and all taxes
which Provider is required to collect under applicable law. 
 4. Standard of Care. 

4.1 Provider will use commercially reasonable efforts to provide or cause to be provided each service in compliance with applicable law and in
accordance with Exhibit A, and Provider will provide or cause to be provided each service in a manner generally consistent with and using the same standard of care as services Provider provides or causes to be provided to its own business, but no
less than a reasonable standard of care; provided, however, that nothing in this Agreement will be construed as a guaranty or warranty of any type with respect to the adequacy of the services, the skill or fitness of personnel performing the
services for any particular job, or the results achieved as a result of the services performed. 

  
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 4.2 Provider will allocate or cause to be allocated sufficient resources and qualified
personnel as are reasonably required to perform the services agreed and set forth on Exhibit A in accordance with the standards set out in Section 4.1. 

5. Employee and Subcontractor Status. 

5.1 Each Party agrees to perform services pursuant to this Agreement as an independent contractor and not as an employee or agent of the other
Party. 
 5.1.1 Provider will control the manner, means and resources used to provide services, unless otherwise specified on Exhibit A.

 5.1.2 Recipient will not be responsible for the payment and provision of wages, bonuses, commissions, employee benefits, and the
withholding and payment of applicable taxes relating to employees of Provider. 
 5.1.3 Neither Party will have control of employees of the
other Party. For clarity, to the extent that any services include management of Recipient’s employees, Recipient will retain control of said employees although Provider may direct tasks of, and evaluate performance of, said employees. 

5.2 Except as otherwise specified on Exhibit A, Provider may retain a third party as determined by Provider to be needed for full performance
under this Agreement. Such third party (e.g., consultant or subcontractor (which may be an affiliate)) may be referred to as a “Subcontractor” herein; such reference in this Agreement is made for convenience only and will not be
construed as changing the status of such third party with respect to any Party. 
 5.2.1 Provider will remain fully responsible for
satisfactory performance of the services it provides even if such services are performed by a Subcontractor. 
 5.2.2 Recipient will not be
responsible for the payment and provision of wages, bonuses, commissions, employee benefits, and the withholding and payment of all applicable taxes relating to employees of Provider’s Subcontractors. 

5.2.3 Neither Party will have control of employees of the other Party’s Subcontractors. For clarity, to the extent that any services
include management of employees of Provider’s Subcontractors, such Subcontractors will retain control of said employees although Provider may direct tasks of, and evaluate performance of, said employees. 

5.3 No employees of either Party will be fully dedicated to providing services to the other Party under this Agreement unless so specified in
Exhibit A. 
 5.4 Notwithstanding Section 5.1 and Section 5.2, Recipient may reject provision of services by one or more persons or
companies selected by Provider if there is a reasonable business purpose for doing so. 
 6. Confidentiality. 

6.1 Except as otherwise provided herein, each Party will maintain in confidence, and will not use for any purpose or disclose to any third
party information disclosed by the other Party in writing and marked “confidential” or that is disclosed orally and confirmed in writing as confidential within 45 days following such disclosure, or that by its nature would reasonably be
considered to be confidential or proprietary (collectively, “Confidential Information”). Confidential Information will not include any information that: (i) is already known to the receiving Party at the time of disclosure
hereunder, (ii) is now or hereafter becomes publicly known other than through acts or omissions of the receiving Party, (iii) is disclosed to the receiving Party by a third party under no obligation of confidentiality to the disclosing
Party, or (iv) is independently developed by the receiving Party without reference to the Confidential Information of the disclosing Party. 

  
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 6.2 Notwithstanding the provisions of Section 6.1, each Party may use or disclose
Confidential Information in exercising its rights hereunder or fulfilling its obligations and duties hereunder and in prosecuting or maintaining any proprietary rights, prosecuting or defending any legal action, complying with applicable
governmental regulations, and submitting information to tax or other governmental authorities, provided that, if the Party is required by law to make any disclosures of Confidential Information of the other, to the extent it may legally do so, the
Party will give reasonable advance notice to the other of such disclosure, limit the disclosure to only the minimum information necessary, and will use its reasonable efforts to secure confidential treatment of Confidential Information prior to its
disclosure (whether through protective orders or otherwise). 
 7. Intellectual Property. 

7.1 “Intellectual Property Asset” (“IPA”) means any invention, work of authorship, designation, design,
formulation, formula, materials, data, know-how, idea, Patent Asset, copyright, software, firmware, algorithm, trademark, tradename, trade secret, domain name, mask work, original document or compilation, or
other intellectual property including but not limited to all related alterations, improvements, modifications, revisions, adaptations, translations, enhancements or other derivative works thereto. “Patent Asset” means a patent
application filed in any jurisdiction, together with any patent application claiming priority thereto (including but not limited to continuation, divisional, substitution, or national phase and validation applications claiming priority thereto;
provided that, in the case of a continuation-in-part patent application, only with respect to a patent issued thereon and only to the extent that the claims in that
issued patent are supported in the application(s) to which priority is claimed), and patents issuing on said patent application or patent applications claiming priority thereto (where issued patents include without limitation registrations,
reissues, reexaminations and extensions). 
 7.2 Ownership of IPA is to be determined as follows: 

7.2.1 IPA conceived or created by Mir A. Imran is not part of this Agreement. 

7.2.2 Except as set forth in Section 7.2.1, IPA conceived or created during and directly from performance of a service set forth on
Exhibit A, which service is performed by Provider for Recipient under, and during the Term of, this Agreement, will be owned by Recipient. 

7.3 RMS (as Provider) hereby irrevocably assigns to InCube (as Recipient) RMS’s entire right, title and interest in and to IPA owned by
InCube under Section 7.2.2, including all intellectual property rights embodied therein. 
 7.4 InCube (as Provider) hereby irrevocably
assigns to RMS (as Recipient) InCube’s entire right, title and interest in and to IPA owned by RMS under Section 7.2.2, including all intellectual property rights embodied therein. 

7.5 Each Party (as Provider) agrees to assist and to cause each of its employees to assist the other Party (as Recipient) or its designee in
every proper way to secure Recipient’s rights, title and interest in and to IPA assigned to Recipient under Section 7.3 or Section 7.4 in any and all countries, including the disclosure to Recipient of all pertinent information and
data with respect to the assigned IPA, and the execution of all applications, specifications, oaths, assignments and all other instruments that Recipient may reasonably deem necessary to secure Recipient’s intellectual property rights under
this Agreement. 
 7.6 For any IPA assigned to Recipient under Section 7.3 or Section 7.4, Recipient will, upon the request of
Provider, grant a non-exclusive, worldwide license back under terms and conditions as negotiated by the Parties; for the avoidance of doubt, the Parties will negotiate such terms and conditions in good faith,
and Provider will not unreasonably deny terms and conditions proposed by Recipient or delay negotiation or execution of the license agreement. 

7.7 Nothing in this Agreement will be construed as requiring a transfer or license of any IPA from one Party to the other Party which IPA was
conceived or created prior to the Effective Date of this Agreement. 

  
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 8. Limitation of Liability. 

8.1 NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, NEITHER PROVIDER NOR ANY OF ITS AFFILIATES WILL BE LIABLE HEREUNDER (INCLUDING FOR
ANY LIABILITY FOR ANY ACTS OR OMISSIONS OF ITS EMPLOYEES, AGENTS OR SUBCONTRACTORS) FOR ANY INCIDENTAL, PUNITIVE OR INDIRECT DAMAGES, EVEN IF ADVISED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF THE FORM OF ACTION THROUGH WHICH
SUCH DAMAGES ARE SOUGHT. 
 8.2 Except in the case of gross negligence or willful misconduct of Provider, and except for liability arising
under Section 1.1 or Section 9.3, the maximum aggregate amount for which Provider may be liable to Recipient as the result of an action brought in connection with or as a result of this Agreement or the provision of services hereunder at
issue will not exceed the combined aggregate service fees received by the Provider for such services under this Agreement . 
 9.
Indemnification. 
 9.1 Subject to Section 8, Recipient will indemnify and hold harmless Provider, its affiliates and each of
their respective officers, directors, members, agents, employees, and representatives (including Subcontractors) (collectively, the “Provider Indemnified Parties”) from and against any and all losses, liabilities, claims, damages,
actions, fines, penalties, expenses or costs (including court costs and reasonable attorneys’ fees) (“Losses”) suffered or incurred by any Provider Indemnified Party arising from or relating to any claim (including any hearing,
inquiry or investigation that may reasonably lead to the institution of any such action, suit, proceeding or alternative dispute resolution mechanism) by a third party (any, a “Claim”) arising from or in connection with the
performance of a service requested by Recipient and performed by Provider under this Agreement, other than by reason of gross negligence or willful misconduct of Provider or any of its Subcontractors in the provision of that service. 

9.2 Subject to Section 8, Provider will indemnify and hold harmless Recipient, its Affiliates and each of their respective officers,
directors, members, agents, and representatives (collectively, the “Recipient Indemnified Parties”) from and against any and all Losses suffered or incurred by any Recipient Indemnified Party arising from or relating to any Claim
arising from or in connection with the negligence or willful misconduct of Provider or any of its Subcontractors in the provision of a service. 

9.3 Recipient (as tenant) will indemnify and hold Provider (as landlord) harmless from any Losses incurred or suffered by Provider arising from
the bringing, allowing, using, permitting, generating, creating, emitting or disposing of toxic materials if by Recipient or its invitees or agents during the Term even if discovered after the Term. Recipient’s indemnification and hold harmless
obligations include, without limitation, Losses (i) resulting from or based upon administrative, judicial (civil or criminal), or other action, legal or equitable, brought by any private or public person under common law or any federal, state,
county or municipal law, ordinance or regulation, and (ii) pertaining to the cleanup or containment of toxic materials, the identification of the pollutants in toxic materials, the identification of the scope of any environmental contamination,
the removal of pollutants from soils, riverbeds or aquifers, the provision of an alternative public drinking water source, or the long term monitoring of ground water and surface waters. Recipient will comply, at its sole cost, with all laws
pertaining to such toxic materials. Recipient’s hold harmless and indemnity obligations hereunder will survive the expiration or termination of this Agreement. 

10. Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, PROVIDER EXPRESSLY DISCLAIMS ANY AND ALL
REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED, OR STATUTORY, WITH RESPECT TO THE SERVICES, INCLUDING WARRANTIES OF MERCHANTABILITY, SUITABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND ANY WARRANTIES ARISING FROM COURSE OF DEALING, COURSE OF
PERFORMANCE OR TRADE USAGE. 
 11. Term and Termination. 

11.1 This Agreement will be effective for a twelve (12) month period starting from the Effective Date (the “Term”), and
will automatically renew on each anniversary of the Effective Date for another twelve (12) month period unless terminated in accordance with this Section 11. 

  
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 11.2 The Parties may terminate one or more services. 

11.2.1 The Parties may terminate any one or more ongoing services at any time by mutual written agreement, with invoice and payment for any
services partially performed prior to such termination to be determined according to that mutual written agreement. 
 11.2.2 Recipient may
terminate Occupancy Services upon six (6) months’ notice or may terminate any of the other services, but not all services, upon sixty (60) days’ notice to Provider prior to any performance of that service; Recipient will
reimburse Provider for actual non-recoverable costs arising prior to termination of that service, which costs arose when, and to the extent that, Provider reasonably obtained or contracted in advance for
personnel, resources, supplies, and/or materials reasonably needed to perform that terminated service. 
 11.2.3 A termination of an
individual service will not terminate this Agreement or any other service being provided under this Agreement. 
 11.3 This Agreement will
automatically terminate in its entirety on the date six (6) months after the date on which Provider will have no further obligation to perform any services as a result of the completion, expiration or termination of all services in accordance
with the terms of this Agreement. 
 11.4 The Parties may terminate this Agreement. 

11.4.1 The Parties may terminate this Agreement by written agreement. 

11.4.2 Either Party may terminate this Agreement upon six (6) months’ prior written notice for any or no reason. 

11.4.3 Either Party may, without limitation of any other remedies that may be available to it, terminate this Agreement at the occurrence of
an Event of Default of the other Party. An “Event of Default” with respect to a Party (the “Breaching Party”) will be deemed to occur if: (i) the Breaching Party has failed to perform any of its material
obligations under this Agreement; (ii) the other Party (the “Non-Breaching Party”) provides notice to the Breaching Party that the Breaching Party has failed to perform a material
obligation under this Agreement; and (iii) such failure will have continued without cure (as reasonably determined by the Non-Breaching Party) for a period of thirty (30) days after delivery of such
notice. 
 11.5 Termination of this Agreement under Section 11.3 or Section 11.4 will be without prejudice to any rights that will
have accrued to either Party pursuant to this Agreement prior to such termination and will not relieve responsibilities that will have accrued to either Party pursuant to this Agreement prior to such termination. 

11.6 Any rights, obligations and duties that by their nature extend beyond the expiration or earlier termination of this Agreement, including
without limitation obligations and duties arising under Sections 3, 6, 7, 8, 9, 10, 11.5, 11.6, 13, 14, and 15, will survive any such expiration or termination and remain in effect. 

12. Force Majeure. A Party (the “Affected Party”) will not be liable for any interruption, delay or failure to perform
any obligation under this Agreement when such interruption, delay or failure is due to causes beyond its reasonable control, including any strikes, lockouts, acts of any government, riot, insurrection or other hostilities, embargo, fuel or energy
shortage, fire, flood, acts of God, pandemic, or a general inability not specific to the Affected Party or its Subcontractors to obtain necessary labor, materials or utilities. In any such event, obligations hereunder will be postponed for such time
as the Affected Party’s performance is suspended or delayed on account thereof and it will have no liability to the other Party in connection therewith. The Affected Party will promptly notify the other Party, in writing, upon learning of the
occurrence of such event of force majeure. Upon the cessation of the force majeure event, the Affected Party will use commercially reasonable efforts to resume its performance promptly. The other Party, however, may terminate this Agreement,
terminate any future service in whole, or terminate any partially-performed service if the Affected Party has not resumed full performance of that service within 90 days from the start of the interruption, delay, or failure to perform under this
Section 12; provided, however, that the terminating Party must provide at least thirty (30) days’ notice of impending termination prior to such termination. 

  
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 13. Transfer, Delegation, Assignment. 

13.1 Neither this Agreement nor any of the rights, interests, or obligations hereunder will be transferred, assigned or delegated, in whole or
in part, including by operation of law, by either Party without the prior written consent of the other Party. 
 13.2 This Agreement will be
binding on and will inure to the benefit of the Parties hereto and their respective successors and permitted assigns. 
 13.3 This Agreement
is for the sole benefit of the Parties hereto and their respective successors and permitted assigns. Nothing in this Agreement, express or implied, is intended to or will confer on any other person (other than the Provider Indemnified Parties and
Recipient Indemnified Parties) any legal or equitable right, benefit, or remedy of any nature whatsoever. 
 14. Governing Law. To the
extent state law is applicable, this Agreement will be interpreted and construed in accordance with the laws of the state of California without regard to conflict of laws principles or to which party drafted particular provisions of this Agreement.

 15. Dispute Resolution. 

15.1 Any dispute or controversy relating to the inventorship, ownership, scope, validity, enforceability, or infringement of any intellectual
property rights will be submitted to a court of competent jurisdiction in the country or regional authority in which such intellectual property rights were granted or arose. In the United States of America (USA), the court of competent jurisdiction
for patents and trademarks will be a federal court. 
 15.2 All disputes will be conducted in the English language, and the English original
version of this Agreement (if subsequently translated) will be considered the only legal version. 
 15.3 For actions which fall outside of
the arbitration provisions of Section 15.4, venue will be within Santa Clara County in the state of California, USA, and the Parties agree to personal jurisdiction of the courts within Santa Clara County. 

15.4 Subject to Section 15.1, any dispute arising out of or relating in any way to this Agreement and/or the relationship between the
Parties, including without limitation, claims for breach of contract, will be submitted to binding arbitration. By agreeing to arbitrate, the Parties are agreeing to waive their right to a jury trial. The arbitration will be conducted in accordance
with this Agreement, the Federal Arbitration Act, and the JAMS Comprehensive Arbitration Rules & Procedures as in effect on the date of this Agreement (the “JAMS Rules”). In the event of a conflict, the provisions of the
JAMS Rules will control, except where those JAMS Rules conflict with this Agreement, in which case this Agreement will control. The arbitration will be conducted before a three-arbitrator panel (the “Panel”), regardless of the size
of the dispute, to be selected as provided in the JAMS Rules. Each arbitrator will be a former state or federal judge with at least five years of judicial experience. The arbitration will be commenced and held in Santa Clara County, California. Any
issue concerning the location of the arbitration, the extent to which any dispute is subject to arbitration, the applicability, interpretation, or enforceability of these procedures, including any contention that all or part of these procedures are
invalid or unenforceable, and any discovery disputes, will be resolved by the Panel. No potential arbitrator may serve unless he or she has agreed in writing to be bound by these procedures. Each Party will, upon the written request of the other
Party, promptly provide the other with copies of all documents on which the producing Party may rely in support of or in opposition to any claim or defense and a report of any expert whom the producing Party may call as a witness in the arbitration
hearing. At the request of a Party, and upon the showing of good cause, the Panel will have the discretion to order production by the other Party or by a third party of other documents relevant to any claim or defense. Each Party will be entitled to
take a maximum of three depositions, plus depositions of all experts designated to be witnesses at the arbitration. The depositions will be limited to a maximum of six hours per deposition. All objections are reserved for the

  
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arbitration hearing, except for objections based on privilege and proprietary or confidential information. The Panel upon a showing of good cause may order additional depositions or deposition
hours. All aspects of the arbitration will be treated as confidential and neither the Parties nor the arbitrators may disclose the existence, content or results of the arbitration, except as necessary to comply with legal or regulatory requirements.
Before making any such disclosure, a Party will give written notice to all other parties and will afford such parties a reasonable opportunity to protect their interests. The result of the arbitration will be binding on the Parties and judgment on
the Panel’s award may be entered in any court having jurisdiction. Nothing in this Section 15.4 will affect any Party’s ability to seek from a court temporary or interim injunctive or equitable relief to protect a Party’s rights
under this Agreement or otherwise. Each Party will share equally the cost of the arbitration filing and hearing fees, the cost of an independent expert retained by the Panel, the cost of the Panel, and administrative fees of JAMS. Each Party will
bear its own costs including its attorney and witness fees and associated costs and expenses. The Parties intend that these provisions will be valid, binding, enforceable, exclusive and irrevocable and will survive any termination of this Agreement.
BY SIGNING THIS AGREEMENT, THE PARTIES ARE AGREEING TO HAVE ANY ISSUE ARISING OUT OF OR RELATING IN ANY WAY TO THIS AGREEMENT OR THE RELATIONSHIP BETWEEN THE PARTIES DECIDED IN ARBITRATION, AND THE PARTIES ARE GIVING UP THEIR RIGHT TO A JURY OR
COURT TRIAL. 
 16. Miscellaneous. 

16.1 This Agreement constitutes the entire agreement, and supersedes all prior agreements and understandings (both written and oral), among the
Parties regarding the subject matter hereof. This Agreement specifically terminates all prior service agreements between the Parties, if applicable. Exhibit A annexed hereto or referred to herein is hereby incorporated in and made a part of this
Agreement as if fully set forth herein. Each Party acknowledges that the other has made no statement, representation, or warranty, and that it has not relied on any statement, representation, or warranty, regarding the services other than those
specifically set out in this Agreement. To the extent that confirmations, invoices or other documentation or paperwork conflict with terms or conditions of this Agreement, the terms and conditions of this Agreement will control. 

16.2 This Agreement may only be amended, modified, or supplemented by an agreement in writing signed by each Party. No waiver by any Party of
any of the provisions of this Agreement will be effective unless explicitly set out in writing and signed by the waiving Party. No failure to exercise, or delay in exercising, any right, remedy, power, or privilege under this Agreement will operate
or be construed as a waiver thereof, nor will any single or partial exercise of any right, remedy, power, or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege. An
amendment, modification, or supplement under this Section 16.2 may be in the form of a replacement or amended Exhibit A; such replacement or amended Exhibit A will only be effective when executed by an authorized representative of both Parties.

 16.3 All section headings herein are for convenience only and are in no way to be construed as part of this Agreement or as a limitation
or expansion of the scope of the particular sections to which they refer. 
 16.4 If any term or provision of this Agreement is deemed
invalid, illegal, or unenforceable by a court of competent jurisdiction, such invalidity, illegality, or unenforceability will not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in
any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal, or unenforceable, the Parties will negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely
as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible. 

16.5 All notices, requests, consents, claims, demands, waivers, and other communications hereunder will be in writing and will be deemed to
have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or email of a PDF
document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified
or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the addresses provided for notice on the signature page (or at such other address for a party as will be specified in a
notice given in accordance with this Section 16.5). 

  
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 16.6 This Agreement may be executed in counterparts, each of which will be deemed an
original, but all of which together will be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email, or other means of electronic transmission will be deemed to have the same legal effect as delivery of
an original signed copy of this Agreement. 
 [The remainder of this page is intentionally left blank. A signature page follows.] 

  
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14 

 [Signature page] 

This Agreement will be binding on the Parties as of the Effective Date when signed below on behalf of each Party. 

IN WITNESS WHEREOF, both Parties have executed this Agreement by their respective and duly authorized representatives. 

 

					
	 INCUBE LABS, LLC
 By:
	  	                	  	 RANI MANAGEMENT SERVICES, INC.

By:

			
	 /s/ Gary Dang
	  		  	 /s/ Svai Sanford

	Signature	  		  	Signature
			
	 Gary Dang
	  		  	 Svai Sanford

	Printed Name	  		  	Printed Name
			
	 VP, Finance and Accounting
	  		  	 Chief Financial Officer

	Title	  		  	Title
			
	Addresses for notice under Section 16.5:	  		  	
			
	 InCube Labs, LLC
 Attn: Legal Department

2051 Ringwood Ave.
 San Jose, CA 95131
	  		  	 Rani Management Services, Inc.
 Attn: Legal
Department
 2051 Ringwood Ave.
 San Jose, CA
95131

  
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 Exhibit-A 

Service Rates – 2021 
 This original
version of Exhibit A is effective beginning January 1, 2021 except as noted with respect to Occupancy Services. Any modification to, or replacement of, this Exhibit A must be made in accordance with Section 16.2 of this Agreement. 

Definitions: 
 • The “InCube
Facility” is the building and grounds (including parking spaces) at 2051 Ringwood Ave., San Jose, CA 95131. 
 •
“Markup” = 25% = 0.25 
 • “Fringe” = 22% = 0.22 

• “Hourly Billing Rate”: 
  

	 	•	 	 for salaried employees, Hourly Billing Rate = (salary/2080) x (1 + Markup + Fringe) 

 

	 	•	 	 for hourly employees, Hourly Billing Rate = (hourly wage) x (1 + Markup + Fringe) 

• “Actual Hours” = actual hours incurred by Provider’s employees on the requested Services, limited for salaried
employees to 40 hours total per week per individual for all provided Services combined; and PTO, Flex, sick, holiday, bereavement, jury duty, or other time-off hours are not to be included in Actual Hours 

 

			
	 Service
	  	 Obligations; Charges

		
	Occupancy	  	The effective date for Occupancy Services is May 1, 2021.
		
		  	 Premises: InCube will make available to RMS approximately 23,000 square feet of an Exclusive Portion of the building at the InCube Facility
(including offices, work cubicles, laboratories, and manufacturing areas), along with access to a Shared Portion of the InCube Facility (including conference rooms, interior and exterior common areas, and parking, all subject to availability).

 
 Invoice: InCube can invoice to RMS an amount equal to $57,500 per month
(calculated at $2.50 per square foot).

		
		  	 Tax and insurance: RMS will pay to InCube a pro rata share of insurance and real property tax on the InCube Facility. Real property tax
includes any charge, levy, assessment, or fee imposed by any authority having direct or indirect power to tax, including, without limitation, any city, county, state or federal government, or any improvement district.

 
 Invoice: InCube can invoice to RMS an amount equal to $6,648 per month initially.
The Parties will true-up the actual tax and insurance at least quarterly and may then adjust the monthly payment to reflect estimated costs for the next quarter.

		
		  	Additional parking: InCube will provide RMS with extended parking capability under the parking license agreement between InCube and McNeal Enterprises, Inc. (“McNeal”). RMS agrees to execute a parking sublicense
agreement at InCube’s request. RMS will take over the payments owed by InCube to McNeal under the parking license agreement: initially, RMS will directly pay McNeal the sum of $1,850 per month, and RMS agrees to pay any increased amount that
may be charged by McNeal, or any additional amount McNeal may charge for additional parking spaces that may be requested by RMS. Time of access to the extended parking may be limited by McNeal as acknowledged by
RMS.

  
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	Shared Costs	  	 Either Party or both Parties may incur Shared Costs with respect to the Shared Portion at the InCube Facility. Shared Costs will be estimated
according to a formula to be agreed on between the Parties at least quarterly. The formula will be pro rata based at least in part on percentage of head count and/or square footage. The Parties will true-up
the actual Shared Costs at least quarterly. For clarity, Shared Costs include those attributable to the additional parking (e.g., maintenance and restriping), but the cost of the additional parking itself is not a Shared Cost.

 
 Invoice: Each Party (as Provider) may invoice monthly the other Party (as
Recipient) any Shared Costs incurred, in accordance with the then-current agreed formula.

		
	Administrative	  	None specified.
		
	Personnel (other than Administrative)	  	 RMS may provide Personnel Services to InCube upon request subject to availability of resources.

 
 Invoice:
  

•  RMS can invoice InCube for all Personnel Services performed by its employees, using the following
formula: Invoiced amount = (Actual Hours) x (Hourly Billing Rate).
  

•  RMS can invoice InCube all amounts paid to a Subcontractor of RMS to perform the Personnel
Services, without markup.
  

•  RMS can invoice InCube for
Out-of-Pocket Costs related to performance of the Personnel Services, without markup.

		
	Special	  	 Either Party (as Provider) may provide Special Services to the other Party (as Recipient) upon request subject to availability of
resources.
  
 Invoice:

 
 •  Provider can invoice for all
Special Services performed by its employees using the following formula: Invoiced amount = (Actual Hours) x (Hourly Billing Rate).
  

•  Provider can invoice Recipient all amounts paid to a Subcontractor of Provider to perform the
Special Services, without markup.
  

•  Provider can invoice Recipient for
Out-of-Pocket Costs related to performance of the Special Services, without markup.

 IN WITNESS WHEREOF, the Parties hereto have caused this Exhibit A to be duly executed by their
authorized representatives. 
  

					
	 InCube Labs, LLC

By:
	 	             

	  	 Rani Management Services, Inc.

By:

			
	 Signed: /s/ Gary
Dang                                         
   
	 		  	 Signed: /s/ Svai
Sanford                                        
    

			
	 Name: Gary
Dang                                         
         
	 		  	 Name: Svai
Sanford                                        
          

  
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 Exhibit 10.17 

Amended and Restated Exclusive License Agreement 

This exclusive license agreement (this “Agreement”) is made by and between InCube Labs, LLC (“InCube” or
“Licensor”) a Delaware limited liability company having an address at 2051 Ringwood Ave., San Jose, CA 95131, and Rani Therapeutics, LLC (“Rani” or “Licensee”), a California limited liability
company having an address at 2051 Ringwood Ave., San Jose, CA 95131. InCube and Rani may be referred to herein individually as a “Party” and collectively as the “Parties”. 

BACKGROUND 
  

	A.	 Rani and InCube entered into that certain Exclusive License Agreement, dated June 14, 2012, as amended by
that certain letter agreement, dated June 13, 2013 (“Prior Agreement”) and that certain Intellectual Property Agreement, dated June 14, 2012, as amended by that certain letter agreement, dated June 13, 2013
(“IP Agreement”); and 

  

	B.	 Rani and InCube now desire to amend and restate the Prior Agreement in its entirety to clarify the scope of the
intellectual property licensed by InCube to Rani and to provide for certain payments from Rani to InCube, all subject to the terms and conditions as provided herein. 

AGREEMENT 
 The Parties agree as follows:

  

	1.	 DEFINITIONS 

As used herein, 
  

	 	1.1.	 “Affiliate” means, with respect to any entity, any other entity that controls, is controlled
by, or is under common control with such entity. For purposes of this Agreement, an entity will be deemed to control another entity if it owns, directly or indirectly, at least fifty percent (50%) of the equity securities of such other entity
entitled to vote in the election of directors (or, in the case that such other entity is not a corporation, for the election of the corresponding managing authority), or otherwise has the power to direct the management and policies of such other
entity. 

  

	 	1.2.	 “Cover” means, with respect to specified IPA and a country, that a Violation of such IPA would
occur by Exploitation of a Product in such country absent a license under, or ownership of, such IPA; provided, however, that in determining whether a Valid Claim of a pending patent application would be infringed, it will be treated as if issued in
the form then currently being prosecuted, where infringement for purposes of this Section 1.2 is determined without considering the effect of any safe harbor provision. Lexical cognates of the word “Cover” (e.g., Covered or Covering)
will have correlative meanings. 

  

	 	1.3.	 “Exploit” means to develop, make, use, promote, provide, offer to sell, sell, market,
distribute, import, export, or otherwise commercialize. Lexical cognates of the word “Exploit” (e.g., Exploited, Exploiting, or Exploitation) will have correlative meanings. 

 

	 	1.4.	 “Field of Use” means oral delivery of sensors, small molecule drugs or biologic drugs
including, any peptide, antibody, protein, cell therapy, gene therapy or vaccine. 

  

	 	1.5.	 “IPA” (intellectual property asset) means any invention, work of authorship, designation,
design, formulation, formula, materials, data, know-how, idea, Patent Asset (defined herein), copyright, software, firmware, algorithm, trademark, tradename, trade secret, domain name, mask work, original
document or compilation, or other intellectual property, including but not limited to all related alterations, improvements, modifications, revisions, adaptations, translations, enhancements or other derivative works thereto. 

 

	 	1.6.	 “Licensed IPA” means the IPA listed on Exhibit A of this Agreement. For clarity, any Patent
Asset listed on Exhibit A includes patents or patent applications that claim priority thereto as per the definition of Patent Asset. 

	 	1.7.	 “Licensed Product” means any Product the Exploitation of which would constitute a Violation of
Licensed IPA but for the license granted Licensee by Licensor herein. 

  

	 	1.8.	 “Patent Asset” means a patent application filed in any jurisdiction, together with any patent
application claiming priority thereto (including but not limited to continuation, divisional, substitution, or national phase and validation applications claiming priority thereto, but in the case of a continuation-in-part application only to the extent that all claims in a patent issued on the continuation-in-part application
are supported in the application(s) to which priority is claimed) and together with patents issuing on said patent application or said patent application claiming priority thereto (where issued patents include without limitation registrations,
reissues, reexaminations and extensions). 

  

	 	1.9.	 “Product” means a service, technique, composition, product, system, or method of treatment.

  

	 	1.10.	 “Sublicensee” means a third party to whom Licensee grants a sublicense under the license in
Section 2 of this Agreement. 

  

	 	1.11.	 “Territory” means worldwide. 

 

	 	1.12.	 “Valid Claim” means (a) a claim of an issued and unexpired patent, or a supplementary
protection certificate thereof, that has not been held permanently and unappealably revoked, unenforceable or invalid by a decision of a court, patent office or other forum of competent jurisdiction, and that is not admitted to be invalid or
unenforceable through reissue, disclaimer or otherwise, or (b) a claim of a pending patent application that has not been abandoned, finally rejected or expired without the possibility of appeal or
re-filing. 

  

	 	1.13.	 “Violation” means an infringement, misappropriation, and/or other violation of any valid and
unexpired portion of specified IPA (e.g., infringement of a Valid Claim of a specified Patent Asset). 

  

	 	1.14.	 “Will” means a requirement or obligation; “may” means optionally.

  

	2.	 LICENSE 

Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee an exclusive, royalty-free license under all of its rights in
Licensed IPA to Exploit any Licensed Products, but solely within the Territory and solely within the Field of Use. Licensor will provide to Licensee upon request any know-how explicitly specified as Licensed
IPA. All intellectual property rights of Licensor not expressly granted in this Agreement are hereby reserved. For clarity, Licensee is Rani (Rani Therapeutics, LLC or its permitted successor or assignee under Section 16 (Assignability)); no
affiliate or spinoff of Rani is granted a license under this Agreement. 
  

	3.	 SUBLICENSE 

  

	 	3.1.	 Except as specified in Section 3.2.3, Rani must implement a separate sublicense for each Affiliate or
Sublicensee in accordance with this Section 3 (Sublicense). 

  

	 	3.2.	 Licensee may sublicense all or any portion of its rights set forth in Section 2 to one or more Affiliates
or Sublicensees under the following conditions: 

  

	 	3.2.1.	 Each sublicense must be in writing and signed by both applicable parties, enforceable according to its terms,
and subject to this Agreement. 

  

	 	3.2.2.	 No sublicense will grant, or purport to grant, any broader rights than those set forth in Section 2.

  

	 	3.2.3.	 Sublicensees will not have the right to further sublicense; provided that, subject to Section 3.3.1, a
Sublicensee of Licensee will have the right to sublicense to a wholly-owned subsidiary of the Sublicensee without prior consent of Licensor. 

  
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15 

	 	3.2.4.	 To the extent applicable, each sublicense must include all of the rights of and obligations due to Licensor
contained in this Agreement. Without limiting the foregoing, each Sublicensee must at least agree to: 

  

	 	3.2.4.1.	 maintain insurance at the levels set forth in Section 12 (Insurance); 

 

	 	3.2.4.2.	 maintain in confidence Licensor’s Confidential Information as defined in Section 9 (Confidentiality);

  

	 	3.2.4.3.	 acknowledge that termination of this Agreement will terminate all sublicenses; provided that, a Sublicensee may
request to convert to a status of a licensee upon termination of this Agreement to the extent allowed under Section 13 (Term and Termination); 

  

	 	3.2.4.4.	 also comply with the obligations on Licensee as set forth in Section 4 (Products); and

  

	 	3.2.4.5.	 also comply with the obligations on Licensee as set forth in Section 7.1. 

 

	 	3.3.	 For each Sublicensee: 

 

	 	3.3.1.	 Licensee will within thirty (30) days of execution of a sublicense provide Licensor with a copy of that
sublicense (which copy may be redacted with respect to information not pertinent to compliance with the terms and conditions of this Agreement). 

  

	4.	 PATENT ASSET BUY-OUT. For each U.S. Patent Asset Family listed in
Table 2 of Exhibit A - Section A.2 (including patents or patent applications that claim priority thereto) (each, a “U.S. Patent Asset Family”), on the fifth anniversary of the Effective Date, Licensee will have the right to
acquire such U.S. Patent Asset Family by paying Licensor a one-time patent acquisition fee of two hundred fifty thousand dollars ($250,000) per U.S. Patent Asset Family (the “U.S. Patent Asset
Acquisition Fee”) within thirty (30) days following the fifth anniversary of the Effective Date. With respect to each U.S. Patent Asset Family for which Licensee pays Licensor the U.S. Patent Asset Acquisition Fee, Licensor will, and
hereby does effective upon receipt of such payment, assign to Licensee all of Licensor’s right, title, and interest in and to such U.S. Patent Asset Family, and, effective upon the date of such assignment, such U.S. Patent Asset
Family shall cease to be Licensed IPA and shall be deemed a “Rani Patent Asset”. Licensor will assist Licensee, at Licensee’s request and expense, to evidence such assignment to Licensee, which assistance will include, without
limitation, signing, verifying and delivering any documents and performing any other acts, for Licensee to obtain and enforce intellectual property rights relating to each Rani Patent Asset. For clarity, there are a total of four (4) U.S.
Patent Asset Families listed on Table 2 of Exhibit A-Section A.2 and the Patent Assets having the following application numbers are all within the same U.S. Patent Asset Family: 62/305,878; 15/455,075; 15/455,080; 16/701,552; and
16/255,020. The maximum amount payable by Licensee to Licensor under this Section 4 is one million dollars ($1,000,000) if Licensee elects to acquire all four (4) U.S. Patent Asset Families. With respect to each U.S. Patent Asset Family,
if Licensee declines to exercise its right under this Section 4 to acquire such U.S. Patent Family, such U.S. Patent Asset Family shall, effective on the date that is thirty (30) days following the fifth anniversary of the Effective
Date, cease to be Licensed IPA and shall be excluded from the license granted to Licensee by Licensor under Section 2. 

  

	5.	 PRODUCTS 

  

	 	5.1.	 Licensee will make all commercially reasonable efforts to comply with all applicable laws, rules and
regulations with respect to the Exploitation of Licensed Products. 

  

	 	5.2.	 Licensee will mark or cause to be marked, in accordance with the applicable patent marking laws, Licensed
Products that are Exploited under the license granted in Section 2. 

  

	 	5.3.	 Licensee will make all commercially reasonable efforts to comply with all applicable U.S. and foreign laws with
respect to the transfer of Licensed Products and related technical data to foreign countries, including without limitation, the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations. 

 

	6.	 PROSECUTION AND MAINTENANCE OF IPA 

 

	 	6.1.	 Licensor will diligently endeavor to prosecute and maintain Licensed IPA using counsel of its choice, and
Licensor will provide Licensee with copies of relevant documentation upon request so that Licensee may be informed of the continuing prosecution, and Licensee agrees to keep this documentation confidential. Licensor’s counsel will take
instructions only from Licensor. 

  
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15 

	 	6.2.	 As reasonably requested by Licensee to protect the Licensed Products that Licensee may Exploit under this
Agreement, and all with respect to the Licensed IPA and only upon request: Licensor will use reasonable efforts to amend any patent application and file new patent applications claiming priority to the Licensed IPA, anywhere in the world, and these
amended and new patent applications will become part of the Licensed IPA. 

  

	 	6.3.	 Licensee will notify Licensor of its decision to obtain or maintain foreign patents not less than 30 days prior
to the deadline for any payment, filing or action to be taken in connection therewith. This notice concerning foreign filing must be in writing, must identify the countries desired, and must reaffirm Licensee’s obligation to underwrite the
costs thereof. The absence of such a notice from Licensee to Licensor may be considered by Licensor an election not to obtain or maintain foreign rights. 

  

	 	6.4.	 Licensor may file, prosecute or maintain patent applications at its own expense in any country in which
Licensee has not elected to file, prosecute or maintain patent applications in accordance with this Section 6 (Prosecution and Maintenance of IPA) and those applications and resultant patents will not be subject to this Agreement.

  

	 	6.5.	 If Licensor fails to prosecute or maintain any item of IPA when obligated to do so under this Section 6,
Licensee may first request that Licensor take immediate action and, if no action is taken by Licensor in a timely manner relative to an impending deadline, Licensee may proceed to prosecute, maintain, or revive such item of IPA.

  

	 	6.6.	 Licensee will not make any statement disparaging, or admitting the invalidity or unenforceability of, any
Licensed IPA during prosecution of any IPA. 

  

	7.	 ENFORCEMENT OF INTELLECTUAL PROPERTY RIGHTS 

 

	 	7.1.	 Each Party will promptly notify the other Party, in writing, of any (i) known Violation of any Licensed
IPA by a third party within the Field of Use and will provide the other Party with available information relating to such Violation, and (ii) any allegation or action by a third party indicating that any Licensed IPA is invalid or unenforceable
(e.g., a declaratory judgment action, a post-grant review action, or a communication from the third party) and will provide the other Party with available information relating to such allegations or action. 

 

	 	7.2.	 Licensor will have exclusive rights to initiate and control any enforcement proceeding with respect to a
Violation of Licensed IPA (such enforcement proceeding, an “Action”) outside the Field of Use at its own expense. Licensee will not have a right to initiate, participate in, or share recovery from, an Action outside the Field of
Use. 

  

	 	7.3.	 Licensee will have the first right to initiate and control any Action in the Field of Use at its own expense.
If Licensee does not bring any such Action within 120 days following notice of the alleged Violation or 30 days before the time limit, if any, set forth in the appropriate laws and regulations for filing of such Action, whichever comes first, then
Licensor will have the right, to initiate and control such Action at its own expense. 

  

	 	7.4.	 Each Party will cooperate with the other Party in an Action brought by that other Party, at that other
Party’s expense, including but not limited to providing materials and information reasonably requested as being reasonably necessary for purposes of the Action. 

 

	 	7.5.	 For an Action in the Field of Use brought by either Party in accordance with this Section 7 that is fully
participated in by both Parties, the Parties will share Costs and recoveries as follows: any recovery will first be applied equally to reimburse those Costs agreed to be shared between the Parties in writing before such Costs were incurred (any
other Costs will be at the expense of the Party incurring them); and then any remaining recovery will be shared equally. For Actions in the Field of Use brought by either Party in 

  
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accordance with this Section 7 and not fully participated in by both Parties: any recovery will first be applied to reimburse the Costs of the Party that brought and controlled such Action
and then to reimburse the Costs of the other Party; then any recovery remaining after such reimbursement will be allocated 75% to the Party bringing the Action and 25% to the other Party or as otherwise agreed between the Parties. For the purposes
of this Section 7, “fully participated in” means being actively involved in a material manner in most or all aspects of the Action and “Costs” refers to costs, fees, and expenses (including attorney fees)
incurred in participating in the Action. 

  

	 	7.6.	 Any Action brought in accordance with this Section 7 will be controlled by the Party bringing the Action;
the other Party may be represented by counsel of its choice. 

  

	 	7.7.	 For any non-cash settlement or
non-cash cross-license, Licensee and Licensor will negotiate in good faith an appropriate monetary value of such settlement or cross-license to use when calculating the recovery from an Action when the
recovery is to be shared. 

  

	 	7.8.	 Licensee will not settle, compromise, or discharge any Action brought in accordance with this Section 7
without prior written consent of Licensor; provided, that, written consent of Licensor will not be required for a settlement, compromise or discharge of such Action that does not admit the invalidity or unenforceability of Licensed IPA or have a
material adverse effect on Licensor. 

  

	 	7.9.	 Licensee will not make any statement disparaging, or admitting the invalidity or unenforceability of, any
Licensed IPA. 

  

	 	7.10.	 Licensee and its Sublicensees will not challenge in any forum or any jurisdiction the validity or
enforceability of any Licensed IPA; any such challenge will be void ab initio. Upon the occurrence of such a challenge, Licensor will have the right to terminate this Agreement immediately upon notice. Licensee will reimburse all Costs that Licensor
may incur addressing any such challenge (whether under contract law, patent law, or any other law). 

  

	8.	 INVOICING AND PAYMENT 

 

	 	8.1.	 Licensor will invoice Licensee a pro rata share for costs incurred under Section 6 (Prosecution and
Maintenance of IPA) of this Agreement. 

  

	 	8.1.1.	 The pro rata share may vary between individual patents and patent applications of Licensed IPA depending on the
number of licensees having a license to each such patent or patent application. Licensee’s pro rata share for a given patent or patent application will be based solely on the number of licensees having a license with respect to that patent or
patent application and not on an actual or perceived relative value of Licensee’s license as compared to other licenses. The pro rata share with respect to a patent or patent application will not be affected by the number of claims in the
patent or patent application. 

  

	 	8.1.2.	 If not otherwise specified in a separate agreement between the Parties (e.g., a service agreement):

  

	 	8.1.2.1.	 Licensee’s pro-rata share of costs arising under this
Section 8.1 other than for in-house counsel services (including but not limited to costs for outside counsel services, foreign counsel services, United States Patent and Trademark Office (USPTO) fees,
foreign patent office fees, and foreign trademark office fees) to the extent initially paid by Licensor will be billed to Licensee on a pass-through basis with no markup by Licensor. 

  
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	 	8.1.2.2.	 Licensee agrees to pay each invoice received from Licensor within thirty (30) days of the date of the
invoice. 

  

	9.	 CONFIDENTIALITY 

  

	 	9.1.	 Except as otherwise provided herein, each Party will maintain in confidence, and will not use for any purpose
or disclose to any third party information disclosed by the other Party in writing and marked “confidential” or that is disclosed orally and confirmed in writing as confidential within 45 days following such disclosure, or that by its
nature would reasonably be considered to be confidential or proprietary (collectively, “Confidential Information”). Confidential Information will not include any information that: (i) is already known to the receiving Party at
the time of disclosure hereunder, (ii) is now or hereafter becomes publicly known other than through acts or omissions of the receiving Party, (iii) is disclosed to the receiving Party by a third party under no obligation of
confidentiality to the disclosing Party, or (iv) is independently developed by the receiving Party without reference to the Confidential Information of the disclosing Party. 

 

	 	9.2.	 Notwithstanding the provisions of Section 9.1, each Party may use or disclose Confidential Information in
exercising its rights hereunder or fulfilling its obligations and duties hereunder and in prosecuting or maintaining any proprietary rights, prosecuting or defending any legal action, complying with applicable governmental regulations, and
submitting information to tax or other governmental authorities, provided that, if the Party is required by law to make any disclosures of Confidential Information of the other, to the extent it may legally do so, the Party will give reasonable
advance notice to the other of such disclosure, limit the disclosure to only the minimum information necessary, and will use its reasonable efforts to secure confidential treatment of Confidential Information prior to its disclosure (whether through
protective orders or otherwise). 

  

	10.	 USE OF NAMES AND TRADEMARKS 

Nothing contained in this Agreement confers any right to use in advertising, publicity or other promotional activities any name, trade name, trademark or other
designation of either Party hereto (including contraction, abbreviation or simulation of any of the foregoing). 
  

	11.	 INDEMNIFICATION 

  

	 	11.1.	 Licensee will indemnify, hold harmless and defend Licensor, its officers, employees, and agents (individually
or collectively, the “Indemnified”) against any and all claims, legal actions, losses, liabilities, damages, costs, fees and expenses (including attorney fees), each as regards product liability or Violation of third-party IPA with
respect to Licensed Products; provided that, the Indemnified (i) promptly notifies Licensee of an applicable claim, and (ii) provides Licensee, at Licensee’s expense, with reasonable assistance and information upon reasonable request.

  

	 	11.2.	 Licensee will keep Licensor informed on a current basis regarding any proceeding for which Licensee has an
obligation to an Indemnified under Section 11.1. 

  

	 	11.3.	 Licensee will not settle, compromise, or discharge any proceeding for which Licensee has an obligation to an
Indemnified under Section 11.1 without prior written consent of Licensor; except that no consent is required if the settlement, compromise, or discharge is limited to payment of monetary damages and does not admit fault or otherwise impair
Licensor’s rights under this Agreement. 

  

	12.	 INSURANCE 

Licensee, at its sole cost and expense, will obtain, keep in force, and maintain commercially reasonable general and product liability insurance as applicable
for any Licensed Products. 

  
 Page 6 of
15 

	13.	 TERM AND TERMINATION 

 

	 	13.1.	 Unless otherwise terminated by operation of law, or by acts of the Parties in accordance with the terms of this
Agreement, this Agreement will be in force perpetually from the Effective Date. Notwithstanding the foregoing, this Agreement will terminate at the earlier of: 

 

	 	13.1.1.	 an attempted assignment of this Agreement that is not a permitted assignment under Section 16
(Assignability); 

  

	 	13.1.2.	 sixty (60) days after institution of bankruptcy proceedings of Licensee which are not dismissed within the
sixty (60) days; 

  

	 	13.1.3.	 discontinuation of business operations of Licensee; or 

 

	 	13.1.4.	 all Patent Assets included in Licensed IPA and their included claims, and all other Licensed IPA other than know-how have expired, been abandoned, been finally and unappealably invalidated or rendered unenforceable, or otherwise are no longer in effect; provided that, after termination under this Section 13.1.4,
Licensee and its Sublicensees may continue to use know-how provided as a result of being included on Exhibit A. 

  

	 	13.2.	 Termination of this Agreement will terminate all licenses and all sublicenses hereunder, and all rights granted
by such licenses and sublicenses will revert to Licensor; provided that, each Sublicensee may request to convert to a status of a licensee, which request Licensor will not unreasonably deny. 

 

	 	13.2.1.	 To convert a Sublicensee to a licensee, Licensor and Sublicensee will execute a license on the same terms and
conditions as set forth in this Agreement, or modifications thereto for which both parties agree. 

  

	 	13.2.2.	 Licensee will notify its Sublicensees at least sixty (60) days in advance of a known or expected
termination of this Agreement; Licensee will notify its Sublicensees within ten (10) days of an unexpected termination of this Agreement. 

  

	 	13.3.	 Following termination of this Agreement, Licensor will be under no continuing or further obligation to
prosecute or maintain any patent or patent application under any provision of this Agreement. 

  

	 	13.4.	 For an enforcement action brought in accordance with Section 7 (Enforcement of Intellectual Property
Rights), which action is in progress at termination of this Agreement (or partial termination with respect to Licensed IPA that is asserted in the action): such action will move forward under the control of Licensor, and Licensee will no longer be
part of such action; Licensee will make all commercially reasonable efforts to effectuate transfer of the action to the control of Licensor in a timely, proper, and legally effective manner. This section 13.4 does not apply if termination is under
Section 13.1.4. 

  

	 	13.5.	 Termination of this Agreement does not relieve either Party of any obligation or liability accrued under this
Agreement prior to termination or rescind any payment made or anything done by a Party prior to the time termination becomes effective. Termination does not affect in any manner any rights of the Parties arising under this Agreement prior to
termination. 

  

	 	13.6.	 All rights and obligations arising under this Agreement which by their nature should survive termination of
this Agreement will survive, including without limitation rights and obligations arising under the following provisions: 

  
 Page 7 of
15 

 
			
	Section 8	  	Invoicing and Payment
	Section 9	  	Confidentiality
	Section 10	  	Use of Names and Trademarks
	Section 11	  	Indemnification
	Section 13	  	Termination
	Section 15	  	Limitations and Limited Warranty
	Section 16	  	Assignability
	Section 17	  	Failure to Perform
	Section 18	  	Governing Law
	Section 19	  	Dispute Resolution
	Section 20	  	Limitation of Liability
	Section 21	  	Miscellaneous (as applicable)

  

	 	13.7.	 Additional Licensor Rights 

 

	 	13.7.1.	 If Licensee materially fails to perform, or materially violates, any material term of this Agreement, then
Licensor may give written notice of default (“Notice of Default”) to Licensee. If Licensee fails to cure the default within 60 days of the effective date of the Notice of Default, then Licensor may terminate this Agreement
immediately by a second written notice (“Notice of Termination”); provided, however, that if Licensee disputes the breach identified in the Notice of Default by initiating arbitration under Section 19 (Dispute Resolution)
within the 60 day cure period, this Agreement will not be immediately terminated by the Notice of Termination, and instead this Agreement will terminate on the date and under the terms specified by the arbitrator. The Notice of Default and Notice of
Termination are subject to Section 14 (Notices). 

  

	 	13.7.2.	 In addition to the procedures set forth in Section 13.7.1, Licensor has the following right: Licensor may,
at its option, give Licensee thirty (30) days’ notice of intent to terminate (the “Notice of Intent”) in the event that Licensee fails to pay one or more invoice(s) for patent prosecution under Section 8.1 of this
Agreement with respect to any Licensed IPA, and such failure to pay continues for at least six (6) months past the submission date of the first of such invoice(s). During the thirty (30) day period after the Notice of Intent is delivered
(the “Notice Period”), Licensee will have an opportunity to cure by paying all overdue invoices. 

  

	 	13.7.2.1.	 Licensor may, at its option, rescind the Notice of Intent in writing at any time during the Notice Period.

  

	 	13.7.2.2.	 If the Notice of Intent is not rescinded within the Notice Period, and if Licensee does not make a full cure by
paying all overdue invoices within the Notice Period, this Agreement will terminate at the conclusion of the Notice Period. 

  

	 	13.7.3.	 In the event of a conflict between any terms in Section 13.7.1 and Section 13.7.2,
Section 13.7.2 will control. 

  

	 	13.8.	 Additional Licensee and Sublicensee Rights 

 

	 	13.8.1.	 Licensee may terminate this Agreement at will in its entirety or as to any portion of Licensed IPA licensed to
Licensee under this Agreement by giving notice to Licensor under Section 14 (Notices). Such termination will be effective sixty (60) days from the effective date of such notice, or at the date specified in a writing by Licensor accepting
the termination and specifying an earlier termination date. In the event of such termination by Licensee, all rights so terminated will revert back to Licensor. 

 

	 	13.8.2.	 In the event that Licensee terminates this Agreement under Section 13.8.1 with respect to a portion of
Licensed IPA without termination of the entire Agreement: 

  
 Page 8 of
15 

	 	13.8.2.1.	 Licensor will be under no continuing or further obligation to prosecute or maintain any patent or patent
application with respect to the terminated portion of Licensed IPA under any provision of this Agreement; and 

  

	 	13.8.2.2.	 any Sublicensee affected by such termination may request to convert to a status of a licensee for that portion
of the Licensed IPA, which request Licensor will not unreasonably deny. To convert a Sublicensee to a licensee, Licensor and Sublicensee will execute a license on the same terms and conditions as set forth in this Agreement, or modifications thereto
for which both parties agree. 

  

	14.	 NOTICES 

Any notice required to be given will be deemed to have been properly given if delivered to the respective address or facsimile number given on the Signature
Page, or to another address or facsimile number of a Party as designated by written notice given by that Party to the other Party. All notices should be sent to the attention of the Legal Department. Notice will be effective on: (i) the date of
delivery if delivered in person; (ii) three days after the date of mailing if mailed via first-class certified mail, postage paid or if mailed via any global express courier service that requires a recipient signature demonstrating the delivery
of such notice; or (iii) the date of transmission if sent by facsimile with confirmation of transmission. 
  

	15.	 LIMITATIONS AND LIMITED WARRANTY 

 

	 	15.1.	 Licensor represents and warrants to Licensee that: (i) it has the lawful right to enter into this
Agreement and grant the rights and licenses hereunder, (ii) Licensor is and will be the owner of the entire right, title, and interest in and to Licensed IPA, (iii) Licensor has not previously granted and will not grant any rights in
Licensed IPA that are inconsistent with the rights and licenses granted to Licensee herein, (iv) to Licensor’s knowledge, there are no claims of any third parties that would call into question the rights of Licensor to grant to Licensee
the rights and licenses granted hereunder, (v) to Licensor’s knowledge, practice of Licensed IPA will not infringe intellectual property rights of third parties, and (vi) except for Licensed IPA, and the inventions disclosed therein,
as of the Effective Date, Licensor does not own or control rights to any invention or any patent or patent application the claims of which would dominate any practice of Licensed IPA. 

 

	 	15.2.	 Without limiting Licensor’s obligations under any other agreements, Licensor is under no obligation under
this Agreement to assign or otherwise transfer title of any Licensed IPA to Licensee. 

  

	 	15.3.	 This Agreement does not (i) express or imply a warranty or representation as to the validity or scope of
any Licensed IPA; (ii) express or imply a warranty or representation that any Licensed Product is or will be free from Violation of IPA of third parties; (iii) obligate either Party to bring any Action against a third party;
(iv) confer by implication, estoppel or otherwise any license or rights other than licenses to Licensed IPA as defined in this Agreement; or (v) obligate Licensor to furnish any know-how not
specified as part of Licensed IPA. 

  

	 	15.4.	 EXCEPT AS EXPRESSLY SET FORTH HEREIN, LICENSOR DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING
BUT NOT LIMITED TO ANY AND ALL IMPLIED WARRANTIES OF MERCHANTABILITY, TITLE, AND FITNESS FOR A PARTICULAR PURPOSE. 

  

	16.	 ASSIGNABILITY 

  

	 	16.1.	 This Agreement, and any obligation or benefit arising hereunder, will not be assignable by either Party to any
third party without the prior written consent of the other Party, such consent not to be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, each Party shall have the right, without the other Party’s prior written
consent, to assign this Agreement to a third party who acquires all or substantially all of the business or assets of such Party to which this Agreement relates, whether by merger, sale of stock, sale of assets or other similar transaction.

  
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15 

	 	16.2.	 No permitted assignment of this Agreement will be valid and effective unless and until the assignee agrees in
writing to be bound by the provisions of this Agreement. Any other attempt to transfer or assign will be void. 

  

	 	16.3.	 The terms and conditions of this Agreement will be binding on and inure to the benefit of the permitted
successors and assigns of the Parties unless otherwise specified herein. 

  

	 	16.4.	 Upon a permitted assignment of this Agreement by a Party, all references herein to such Party will be deemed a
reference to the assignee. 

  

	17.	 FAILURE TO PERFORM 

  

	 	17.1.	 No waiver by either Party of any default of this Agreement will be deemed a waiver of any subsequent or similar
default. 

  

	 	17.2.	 A suspension of duty under this Agreement due to force majeure will not be for a period longer than six
(6) months. 

  

	 	17.3.	 Subject to Section 19 (Dispute Resolution), if either Party finds it necessary to undertake legal action
against the other on account of failure of performance due under this Agreement, then the prevailing Party is entitled to reasonable attorney’s fees in addition to costs and necessary disbursements. 

 

	18.	 GOVERNING LAW 

To the extent state law is applicable, this Agreement will be interpreted and construed in accordance with the laws of the state of California without regard
to conflict of laws principles or to which party drafted particular provisions of this Agreement. 
  

	19.	 DISPUTE RESOLUTION 

  

	 	19.1.	 Any dispute or controversy relating to the inventorship, ownership, scope, validity, enforceability, or
infringement of any intellectual property rights will be submitted to a court of competent jurisdiction in the country or regional authority in which such intellectual property rights were granted or arose. In the United States of America (USA), the
court of competent jurisdiction for patents and trademarks will be a federal court. 

  

	 	19.2.	 All disputes will be conducted in the English language, and the English original version of this Agreement (if
subsequently translated) will be considered the only legal version. 

  

	 	19.3.	 For actions which fall outside of the arbitration provisions of Section 19.4, venue will be within Santa
Clara County in the state of California, USA, and the Parties agree to personal jurisdiction of the courts within Santa Clara County. 

  

	 	19.4.	 Subject to Section 19.1, any dispute arising out of or relating in any way to this Agreement and/or the
relationship between the Parties, including without limitation, claims for breach of contract, will be submitted to binding arbitration. By agreeing to arbitrate, the Parties are agreeing to waive their right to a jury trial. The arbitration will be
conducted in accordance with this Agreement, the Federal Arbitration Act, and the JAMS Comprehensive Arbitration Rules & Procedures as in effect on the date of this Agreement (the “JAMS Rules”). In the event of a conflict,
the provisions of the JAMS Rules will control, except where those JAMS Rules conflict with this Agreement, in which case this Agreement will control. The arbitration will be conducted before a three-arbitrator panel (the “Panel”),
regardless of the size of the dispute, to be selected as provided in the JAMS Rules. Each arbitrator will be a former state or federal judge with at least 

  
 Page 10 of
15 

	 	
five years of judicial experience. The arbitration will be commenced and held in Santa Clara County, California. Any issue concerning the location of the arbitration, the extent to which any
dispute is subject to arbitration, the applicability, interpretation, or enforceability of these procedures, including any contention that all or part of these procedures are invalid or unenforceable, and any discovery disputes, will be resolved by
the Panel. No potential arbitrator may serve unless he or she has agreed in writing to be bound by these procedures. Each Party will, upon the written request of the other Party, promptly provide the other with copies of all documents on which the
producing Party may rely in support of or in opposition to any claim or defense and a report of any expert whom the producing Party may call as a witness in the arbitration hearing. At the request of a Party, and upon the showing of good cause, the
Panel will have the discretion to order production by the other Party or by a third party of other documents relevant to any claim or defense. Each Party will be entitled to take a maximum of three depositions, plus depositions of all experts
designated to be witnesses at the arbitration. The depositions will be limited to a maximum of six hours per deposition. All objections are reserved for the arbitration hearing, except for objections based on privilege and proprietary or
confidential information. The Panel upon a showing of good cause may order additional depositions or deposition hours. All aspects of the arbitration will be treated as confidential and neither the Parties nor the arbitrators may disclose the
existence, content or results of the arbitration, except as necessary to comply with legal or regulatory requirements. Before making any such disclosure, a Party will give written notice to all other parties and will afford such parties a reasonable
opportunity to protect their interests. The result of the arbitration will be binding on the Parties and judgment on the Panel’s award may be entered in any court having jurisdiction. Nothing in this Section 19.4 will affect any
Party’s ability to seek from a court temporary or interim injunctive or equitable relief to protect a Party’s rights under this Agreement or otherwise. Each Party will share equally the cost of the arbitration filing and hearing fees, the
cost of an independent expert retained by the Panel, the cost of the Panel, and administrative fees of JAMS. Each Party will bear its own costs including its attorney and witness fees and associated costs and expenses. The Parties intend that these
provisions will be valid, binding, enforceable, exclusive and irrevocable and will survive any termination of this Agreement. BY SIGNING THIS AGREEMENT, THE PARTIES ARE AGREEING TO HAVE ANY ISSUE ARISING OUT OF OR RELATING IN ANY WAY TO THIS
AGREEMENT OR THE RELATIONSHIP BETWEEN THE PARTIES DECIDED IN ARBITRATION, AND THE PARTIES ARE GIVING UP THEIR RIGHT TO A JURY OR COURT TRIAL. 

  

	20.	 Limitation of Liability. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, NEITHER PARTY NOR ANY OF
ITS AFFILIATES WILL BE LIABLE HEREUNDER (INCLUDING FOR ANY LIABILITY FOR ANY ACTS OR OMISSIONS OF ITS EMPLOYEES, AGENTS OR SUBCONTRACTORS) FOR ANY INCIDENTAL, PUNITIVE OR INDIRECT DAMAGES, EVEN IF ADVISED IN ADVANCE OF THE POSSIBILITY OF SUCH
DAMAGES AND REGARDLESS OF THE FORM OF ACTION THROUGH WHICH SUCH DAMAGES ARE SOUGHT. 

  

	21.	 MISCELLANEOUS 

  

	 	21.1.	 This Agreement embodies the entire understanding of the Parties and supersedes all previous communications,
representations or understandings between the Parties, either oral or written, relating to the subject matter hereof. Without limiting this Section 21.1, this Agreement specifically supersedes the Prior Agreement and the IP Agreement, both of
which are hereby terminated. 

  

	 	21.2.	 No amendment or modification of this Agreement is valid or binding on the Parties unless made in writing and
signed on behalf of each Party. 

  

	 	21.3.	 Headings are inserted for convenience of reference only and are not intended to be a part of or to affect the
meaning or interpretation of this Agreement. 

  

	 	21.4.	 In case any of the provisions contained in this Agreement is held to be invalid, illegal or unenforceable in
any respect, that invalidity, illegality or unenforceability will not affect any other provisions of this Agreement and this Agreement will be construed as if the invalid, illegal or unenforceable provisions had never been contained in it.

  
 Page 11 of
15 

	 	21.5.	 None of the provisions of this Agreement is intended to create any form of joint venture between the Parties,
rights in third parties, or rights that are enforceable by any third party. 

  

	 	21.6.	 This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which
together will be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email, or other means of electronic transmission will be deemed to have the same legal effect as delivery of an original signed copy of
this Agreement. 

 [The remainder of this page is intentionally left blank. A signature page follows.] 

  
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15 

 [Signature page] 

This Agreement will be binding on the Parties as of the last date entered in the signature blocks below (the “Effective Date”) when it has
been signed below on behalf of each Party. 
 IN WITNESS WHEREOF, both Licensor and Licensee have executed this Agreement by their respective and duly
authorized representatives on the day and year written. 
  

									
	INCUBE LABS, LLC	 	        	  	RANI THERAPEUTICS, LLC
	By:	 		  	By:
	 /s/ Mir Imran
	 		  	 /s/ Svai Sanford

	Signature	 		  	Signature
	 Mir Imran
	 		  	 Svai Sanford

	Printed Name	 		  	Printed Name
	 Owner
	 		  	 Chief Financial Officer

	Title	 		  	Title
	 June 22, 2021
	 		  	 June 22, 2021

	Date	 		  	Date
			
	Addresses for notice under Section 14:	 		  	
			
	 InCube Labs, LLC
 Attn: Legal
Department
 2051 Ringwood Ave.
 San Jose, CA 95131

 
 With copy to legal@incubelabs.com
	 		  	 Rani Therapeutics, LLC
 Attn: Legal
Department
 2051 Ringwood Ave.
 San Jose, CA 95131

 
 With copy to rani-legal@ranitherapeutics.com

  
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15 

 EXHIBIT A – Section A.1 

A. Patent Assets listed in Table 1. 
 Table 1 

 

							
	 JX
	  	 TITLE
	  	 APPLICATION NO.
	  	DATE FILED
	US	  	METHOD FOR MANUFACTURING MICROTABLETS AND RELATED MACHINES	  	62/776,826	  	12/7/2018
	US	  	METHOD AND APPARATUS FOR MANUFACTURING MICROTABLETS	  	16/704,822	  	12/5/2019
	WO	  	METHOD AND APPARATUS FOR MANUFACTURING MICROTABLETS	  	PCT/US2019/064932	  	12/6/2019
	US	  	DEVICES AND METHODS FOR ADMINISTERING A THERAPEUTIC SUBSTANCE	  	62/854,101	  	5/29/2019
	WO	  	DEVICES AND METHODS FOR ADMINISTERING A THERAPEUTIC PREPARATION	  	PCT/US2020/034883	  	5/28/2020
	US	  	SMALL FORM-FACTOR BATTERY WITH HIGH POWER DENSITY	  	62/905,950	  	9/25/2019
	WO	  	SMALL FORM-FACTOR BATTERY WITH HIGH POWER DENSITY	  	PCT/US2020/002526	  	9/24/2020

 B. Know-how that is reasonably necessary for Exploitation of a Licensed Product that
is Covered by any Patent Asset listed in Table 1. 

  
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15 

 EXHIBIT A – Section A.2 

A. Patent Assets listed in Table 2. 
 Table 2 

 

							
	 JX
	  	 TITLE
	  	 APPLICATION NO.
	  	DATE FILED
	US	  	CONTROLLED RELEASE FORMULATION DELIVERY DEVICE	  	62/912,581	  	10/8/2019
	WO	  	CONTROLLED RELEASE FORMULATION DELIVERY DEVICE	  	PCT/US2020/054559	  	10/7/2020
	US	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	62/305,878	  	3/9 2016
	US	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	15/455,075	  	3/9/2017
	US	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	15/455,080	  	3/9/2017
	US	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	16/701,552	  	12/3/2019
	US	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	16/255,020	  	1/23/2019
	WO	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	PCT/US2017/021692	  	3/9/2017
	EP	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	177641578	  	3/9/2017
	AU	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	2017230737	  	3/9/2017
	CA	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	3016673	  	3/9/2017
	CN	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	2017800283178	  	3/9/2017
	IN	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	201817037401	  	3/9/2017
	JP	  	METHODS AND ARTICLES FOR DELIVERING VIABLE CELLS INTO SOLID TISSUE	  	2018546875	  	3/9/2017
	US	  	ENCAPSULATED CELL DEVICE	  	62/960,536	  	1/13/2020
	US	  	CELL DELIVERY ARTICLE AND METHODS OF ADMINISTRATION	  	63/017,519	  	4/29/2020
	PCT	  	CELL DELIVERY ARTICLES AND METHODS OF ADMINISTRATION	  	PCT/US2021/013210	  	1/13/2021

 B. Know-how that is reasonably necessary for Exploitation of a Licensed Product that
is Covered by any Patent Asset listed in Table 2. 

  
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15

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