Document:

Exhibit 10.11

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
EXECUTIVE EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of July 18, 2019, by and between MDxHealth,
Inc., a company incorporated in the state of Delaware and with an office located at 15279 Alton Pkwy, Suite 100, Irvine, CA 92618 (“Company”),
and Mr. Ron Kalfus (“Executive”).

 

RECITALS

 

A.
WHEREAS, the Company engages in the business of oncologic molecular diagnostics;

 

B.
WHEREAS, the Company desires to employ Executive as Chief Financial Officer;

 

C.
WHEREAS. the Executive desires to provide employment services to the Company on the terms and conditions set forth in this Agreement;

 

NOW,
THEREFORE, in consideration of the mutual covenants and conditions set forth below, the parties hereby agree as follows:

 

Article I. EMPLOYMENT
AND DUTIES

 

1.1 Position & Duties. Executive shall be employed as the Chief Financial Officer of the Company. As such, Executive shall
be an exempt salaried employee Executive shall report to the Chief Executive Officer (“CEO”) As the Chief Financial
Officer, the tasks of Executive shall include oversight and management of the financial operations of the Company, including but not
limited to the following:

 

		–	Managing
                                            the (internal and external) co-ordination of all finance-related departments such as accounting,
                                            tax and payroll, including implementation and execution of financial policies and practices;

 

		–	Developing
                                            and implementing financial plans in support of operational, commercial and corporate strategy
                                            and objectives, including managing cash positions and cash flows;

 

		–	Preparing
                                            quarterly, annual and other financial reports, filings and disclosures;

 

		–	Oversight
                                            and implementation of coordinated financial communications, supporting financial, operational
                                            and corporate objectives and organizational expenditure requirements; and

 

		–	Active
                                            participation in corporate strategic planning and development, forecasting, resource planning
                                            and budgeting;

 

subject
in each instance to the guidelines, plans or policies as may be established, modified, or approved by the Board of Directors and/or the
Company from time to time.

 

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1.2 Start Date. Executive will commence employment with the Company on July 22, 2019 (“Start Date”) or such
other date as mutually agreed to by the parties.

 

1.3 Location
of Services. Unless the Company determines otherwise in its sole discretion, the principal place of business for the performance
of Executive’s duties hereunder shall be at the Company’s offices located in Irvine, California, subject to such
domestic and international travel as may he required to perform Executive’s duties hereunder. Executive shall relocate to
Southern California, as soon as reasonably possible following the execution of this Agreement.

 

1.4 At-Will Employment. Subject to Articles III and IV, Executive’s employment with the Company is “at-will,”
and either the Company or Executive may terminate this Agreement at any time and for any reason with or without cause. Subject to Articles
III and IV, the Company may also change Executive’s compensation, duties, assignments, responsibilities, and primary work location,
or the other terms and conditions of Executive’s employment at any time without advance notice. Executive acknowledges and agrees
that the Company is his sole employer within the MDxHealth group.

 

1.5 Other Business Affiliations. Subject to the provisions of Section 5.1, Executive agrees that, without the approval of the
CEO, Executive shall not, during the period of employment with the Company, devote any time to any business affiliation which would interfere
with or derogate from Executive’s duties and obligations under this Agreement.

 

1.6
Compliance with Laws. Executive agrees to comply with all applicable governmental laws, rules and regulations, and policies, standards
and regulations of the Company now existing or hereafter promulgated. Among other things, Executive agrees to pay special attention to
the medical fraud and abuse and anti-kickback laws, not just as they apply to the Company and its affiliates, but also as they apply
to Company’s and its affiliates’ relationships with other parties and with healthcare professionals. The Company and its
affiliates are committed to ensuring that their practices and procedures are compliant and that their relationships with other parties
and healthcare professionals benefit patients and enhances the practice of medicine.

 

Article II. COMPENSATION
AND BENEFITS

 

2.1 Base Salary. Executive shall be paid a gross annual base salary of $275,000 (“Base Salary”), less deductions
and withholding required by law or approved by Executive, paid in accordance with the Company’s normal and customary payroll practices.

 

2.2 Annual Bonus. In addition to the Base Salary described in Section 2.1, for each full calendar year of employment with the
Company (“Annual Bonus Period”), Executive shall be eligible to earn an annual bonus of up to 30% of Executive’s
then in effect Base Salary (“Potential Annual Bonus”). For the calendar year 2019, the Potential Annual Bonus will
be pro-rated for the partial year of employment. The amount and calculation of the actual annual bonus will be based on the Executive’s
and the Company’s achievement of performance goals established in advance by the CEO and the Board of Directors (“Annual
Bonus”), subject in certain circumstances to compliance with applicable Belgian corporate governance rules mandating that certain
executive bonuses be partially structured over a two-year and three-year performance period rather than a single year period. The Annual
Bonus, if any, will be earned and paid no later than March 15th of the year following the Annual Bonus Period (“Payment Date”).
In the event Executive’s employment terminates for any reason other than for Cause prior to the end of the Annual Bonus Period,
Executive shall be eligible to receive a pro-rata Annual Bonus based on Executive’s period of employment during the applicable
calendar year and achievement by Executive and the Company of the objectives during that time period. In this case, the prorated Annual
Bonus, if any, will only be deemed earned and paid on the Payment Date. All bonus payments shall be made less deductions and withholdings
required by law or approved by Executive.

 

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2.3 Reimbursable Expenses. Upon submission of expense reports sufficient to substantiate the Company’s federal income
tax deductions for such expenses under the Internal Revenue Code of 1986, as amended (the “Code”), and in compliance
with the expense report procedures as may be established by the Company from time to time, the Company shall reimburse Executive for
all reasonable business expenses incurred in the performance of Executive’s duties hereunder on behalf of the Company.

 

2.4 Benefits. Executive and his dependents will be eligible to participate in all group health, medical, dental, disability
and insurance plans, incentive, savings and retirement plans, and such other employee benefits (collectively, “Plans”),
if any, as the Company may establish for its executives and on the same terms and conditions as are generally applicable to executives
of the Company. Such Plans may be modified or terminated by the Company from time to time in accordance with the terms of the Plans.
Executive’s and his dependents’ participation in such plans may be limited to the extent the Company reasonably determines
it is necessary to avoid adverse tax consequences.

 

2.5 Vacations, Holidays & Sick Leave. Executive shall be eligible to accrue up to thirteen and one third (13 1/3) hours
of vacation per month, which is equivalent to one hundred sixty (160) hours or twenty (20) days per full calendar year. The Company’s
policies and/or practices as are generally applicable to executive employees of the Company shall apply to Executive’s accrual
and use of vacation. Executive will be eligible to earn paid sick leave in accordance with the Company’s standard policy for similarly
situated employees and applicable law. Executive will also be entitled to all paid holidays provided to the Company’s executive
employees in California.

 

2.6 Stock Options.

 

(a) Grant Terms. Subject to approval by the Board of Directors of Company’s affiliate MDxHealth S.A. (the “Parent”)
at its next regularly scheduled meeting of the Parent’s Board of Directors (the “Board”) following the date
of this Agreement, Executive shall be granted an option to purchase 200,000 common shares of the Parent (the “Stock Option”).
The per share exercise price of the Stock Option shall be equal to the higher of (i) average price of the common shares of the Parent
on Euronext during the period of 30 days preceding the date of the grant, or (ii) the closing price on the Euronext of the underlying
shares on the date of grant. The Stock Option will vest over the course of four years, in accordance with the terms of the option plan
of the Parent, and shall be subject to such other terms and conditions set forth in the stock option plan(s) (“Plan”)
pursuant to which it is granted and the agreement evidencing the grant.

 

(b)
Accelerated Vesting. In the event of a Change of Control (as defined below) and provided the Board approves this provision in
connection with the approval of the Stock Option, the Stock Option shall vest in full upon a Change of Control, except that in the case
of a Change of Control that occurs during the first six (6) months following the Start Date, the Stock Option shall only vest with respect
to 50% of the underlying shares subject to the Stock Option.

 

(c) Change of Control. For purposes of this Agreement, “Change of Control” means (i) the occurrence of any
of the following events: the consolidation, merger, reorganization, sale of all or substantially all of the assets or capital stock (including
a control group tender offer) of the Company or Parent, (ii) completion of any other business combination in which Parent is not the
surviving entity, or (iii) the announcement of the launch of public tender offer for all of the Parent’s voting securities that
are not yet owned by the person making the tender offer (“Public Tender Offer”) that is unconditional, or the announcement
that a conditional Public Tender Offer that has previously been launched has become unconditional.

 

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Article III. TERMINATION

 

3.1 Termination Due to Executive’s Death. The Executive’s employment under this Agreement shall automatically terminate
upon the death of the Executive.

 

3.2 Termination Due to Executive’s Disability. To the extent permissible under applicable law, the Company shall have
the right, exercisable at any time, to terminate the Executive’s employment under this Agreement with immediate effect upon the
Executive’s Disability (as defined below) by providing written notice in accordance with Section 6.4. For purposes of this Agreement,
“Disability” shall mean the Executive’s inability to perform, with or without a reasonable accommodation, and
consistent with the requirements of applicable state and federal law, the essential functions of Executive’s position by reason
of any medically determined physical or mental impairment, injury or other medical condition, for a period of time not less than either
one hundred twenty (120) consecutive calendar days or one hundred eighty (180) calendar days in any twelve (12) month period. In the
event of any dispute regarding the existence of a Disability, the matter will be resolved by the determination of a physician qualified
to practice medicine in the State of California (a “Physician”), whose identity is mutually agreed to by both parties,
and whose determination shall be final and binding. If the parties cannot agree on a Physician, each party shall select one Physician,
and those two Physicians shall select a third Physician to make the Disability determination, which shall be final and binding.

 

3.3 Termination by the Company for Cause. The Company shall have the right, exercisable at any time, to terminate the Executive’s
employment under this Agreement with immediate effect for Cause (as defined below) by providing written notice in accordance with Section
6.4. For purposes of this Agreement, “Cause” shall mean: (i) Executive’s gross negligence or willful misconduct
in the performance of Executive’s duties or willful or repeated failure or refusal to perform any duties reasonably requested by
the CEO, provided such duties are consistent with his title and position; (ii) Executive’s act or omission which constitutes misrepresentation
or fraud and which causes, or is reasonably likely to cause, more than de minimis harm to the Company, Parent or its affiliates (together
with Parent, the “Group”), including its or their business or reputation; (iii) Executive’s material violation
of the Company’s or the Group’s lawful and material policies or procedures of which the Executive has had prior written notice
or any laws, regulations or rules that are material to the business of the Company or the Group; (iv) Executive’s material breach
of this Agreement or the Proprietary Information and Inventions Agreement; (v) Executive’s commission, indictment on charges related
to, conviction of, or plea of guilty or no contest to a felony or similar or equivalent charge pursuant to applicable law, involving
dishonesty that caused, or is reasonable likely to cause, more than de minimis harm to the Company or any entity in the Group, including
its or their business or reputation; (vi) Executive’s misappropriation of Company or Group assets or breach of his fiduciary duties
to the Company or the Group; provided, however, that a termination shall not be a termination for Cause with respect to any event or
circumstance described in clauses (i), (iii), or (iv) that is reasonably susceptible of cure (as determined by the Company in its reasonable
discretion) (a “Curable Event”) unless (a) Executive has been given written notice of the Curable Event and at least
ten (10) business days to cure, and (b) the Curable Event or circumstance remains uncured at the end of such ten (10) business day period;
provided, however, that if such failure to cure cannot reasonably be remedied within such ten (10) business day period (as determined
by the Company in its reasonable discretion), it shall not constitute Cause hereunder if the Executive shall commence such remedy within
such ten (10) business day period and thereafter diligently pursues such remedy and causes its completion within thirty (30) days thereafter.

 

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3.4 Resignation by Executive For Good Reason. The Executive may terminate his employment for Good Reason (as defined below)
in accordance with the terms of this Section 3.4. For purposes of this Agreement, “Good Reason” shall mean: (i) a
material diminution in the character or scope of Executive’s duties, responsibilities, or authority, (ii) a material reduction
in Base Salary other than a reduction that is proportionate to any general reduction in base salaries of executive officers of the Company
and/or Parent; or (iii) the Company’s material breach of this Agreement, including, for the avoidance of any doubt, a breach of
Section 6.20 hereof; provided, however, that for an event to constitute an event of Good Reason under this Section 3.4, the Executive
must (a) provide the Company with written notice in accordance with Section 6.4 of Executive’s intent to terminate employment and
a detailed description of the event Executive believes constitutes Good Reason within thirty (30) days after the initial existence of
the event, and (b) the Company shall have sixty (60) days after Executive provides the notice described above to cure the event that
constitutes Good Reason (the “Cure Period”). Provided that the Company has not cured the event reportedly giving rise
to Good Reason, Executive will have ninety (90) days following the end of the Cure Period to terminate Executive’s employment for
Good Reason, after which Good Reason will no longer exist with respect to the event to which such cure period applied.

 

3.5 Termination by the Company without Cause or Resignation by Executive Without Good Reason. The Company may terminate Executive’s
employment at any time without Cause, and the Executive may terminate the Executive’s employment without Good Reason, in each case
upon thirty (30) days prior written notice to the other party in accordance with Section 6.4.

 

Article IV. COMPENSATION
UPON TERMINATION

 

4.1 Final Pay Upon Termination. Upon the termination of Executive’s employment with the Company for any reason, the Company
shall pay to Executive (or his beneficiaries) in accordance with California law the unpaid portion of the Base Salary earned through
the date of termination, any Annual Bonus earned prior to termination but remaining unpaid, and all accrued but unused paid vacation
leave (“Final Pay”), less deductions and withholdings required by law. Final Pay will be paid in accordance with California
law.

 

4.2 Termination by the Company for Cause, due to Executive’s Death or Disability, or Executive’s Resignation without
Good Reason. If the Company terminates Executive for Cause, or due to Executive’s Death or Disability, or Executive resigns
without Good Reason, Executive shall be entitled to receive the Final Pay only, and no severance, compensation or benefits shall be owed
or paid by the Company.

 

4.3 Termination by the Company without Cause or Executive’s Resignation for Good Reason. Although Executive is employed
at all times on an “at-will” basis, if the Company terminates Executive without Cause or Executive resigns for Good Reason,
Executive shall be eligible to receive as severance upon the execution and non-revocation of a Release (as defined below) an amount equal
to six (6) months of Executive’s Base Salary in effect at the time of the termination, less deductions and withholdings required
by law (“Severance Pay”). As of the first anniversary of the Start Date, the Severance Pay will increase to twelve
(12) months of Base Salary, less deductions and withholdings required by law. For the avoidance of doubt, this provision will continue
to apply following a Change of Control provided that the conditions herein are satisfied.

 

4.4 Timing of Severance Payment and Release Requirement. The Severance Pay shall be paid to Executive in a lump sum within
ten (10) business days following the effective date of a general release of all claims by Executive in a form provided by and acceptable
to the Company (“Release”), which Release must be effective and irrevocable no later than fifty-five (55) days after
the termination of Executive’s employment.

 

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Article V. NONCOMPETITION
DURING EMPLOYMENT

 

5.1 Noncompetition During Employment. During his employment, Executive shall devote his full time and efforts to the business
of the Company and will not directly or indirectly, engage, individually or as an officer, director, employee, consultant, advisor, partner
or co-venturer, or as a stockholder or other proprietor owning more than a five percent (5%) interest in any firm, corporation, partnership
or other organization (in case of any such ownership or participation) in any enterprise or business that competes directly or indirectly
with the products and/or services of the Company or the Group. Executive shall furnish to the CEO a detailed statement of any outside
employment or consulting services in which Executive seeks to engage or invest, and, as from time to time requested by the CEO, resubmit
for approval a detailed statement thereof. In the event the CEO determines in good faith that such violation or conflict exists, Executive
shall refrain from such employment, consulting services or investment. It is intended and agreed that during the term of Executive’s
employment, Executive will knowingly perform no act which may confer any competitive benefit or advantage upon any enterprise or business
competing with Company or the Group.

 

5.2 Non-Solicitation. Executive agrees that during his employment and for a period of one (1) year after the termination of
his employment for any reason, and within the geographical regions in which the Company or the Group does business, Executive shall not
induce or attempt to induce, either directly or indirectly, any employee, agent or consultant of the Company or the Group to terminate
his or her association with the Company or the Group or attempt by any means to persuade or incite such individuals to accept another
employment or engagement or to leave the Company or the Group. The Company and Executive agree that the provisions of this Section 5.2
are necessary to protect the legitimate business interests of the Company.

 

5.3 In the event of the breach or threatened breach by Executive of any of the provisions of this Article 5, the Company, in addition
to all other remedies available to it at law or in equity, shall be entitled to seek preliminary or permanent injunctive relief and/or
specific performance to enforce the provisions set forth in this Article 5.

 

Article VI. MISCELLANEOUS
PROVISIONS

 

6.1 Proprietary Information and Inventions Agreement. In conjunction with the execution of this Agreement, Executive will execute
and enter into the Company’s standard Proprietary Information and Inventions Agreement, attached hereto as Exhibit 1, the
terms of which shall be incorporated into this Agreement.

 

6.2 No Breach of Duty. Executive represents that Executive’s performance of this Agreement and employment with the Company
does not and will not breach any agreement or duty to keep in confidence proprietary information acquired by Executive before his employment
with the Company. Executive has not and will not enter into any agreement, either written or oral, in conflict with this Agreement. Executive
represents that he is not currently restricted from being employed by the Company or entering into this Agreement.

 

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6.3 Arbitration. Except for workers’ compensation claims, disputes solely before government agencies (including but not
limited to the NLRB or EEOC), unemployment insurance claims, and other claims which may not be arbitrated as a matter of law, Executive
and the Company agree that any and all disputes, controversies, or claims, whether based in contract, tort, common or statutory law,
between Executive and the Company and/or its agents, and whether arising under or relating to this Agreement, Executive’s employment
with the Company, the termination of Executive’s employment, or any other manner of the parties’ relationship (“Arbitrable
Claims”) shall be resolved by final and binding arbitration conducted pursuant to the Federal Arbitration Act. Executive and
the Company agree that arbitration shall be exclusive, final and binding remedy for all Arbitrable Claims, and Executive, the Company
and its agents hereby waive any rights each may have to a jury trial in regard to Arbitrable Claims. Executive and the Company further
agree that the arbitrator shall have the sole authority to determine the arbitrability of Arbitrable Claims. The arbitration shall be
conducted by a single arbitrator before JAMS in Irvine, California (or other mutually agreed upon city) under the JAMS Employment Arbitration
Rules and Mediation Procedures and the JAMS Policy on Employment Arbitration Minimum Standards of Procedural Fairness, if applicable,
in effect on the date this Agreement is signed (“JAMS Rules”), except as expressly set forth herein or where such
rules are not in compliance with applicable state or federal law. A copy of the JAMS Rules is available for review through the Company
by submitting a request to the Human Resources Department, by contacting JAMS at telephone number 800¬352-5267, or at JAMS’
website at www.jamsadr.com. Both Executive and the Company shall be entitled to file diapositive motions before the arbitrator to the
same extent as would be allowed had the dispute been heard in a court of law having jurisdiction over the parties’ claims or counterclaims.
The arbitrator shall have the same authority as a court to award equitable relief, damages, costs, and fees as provided by law or the
applicable JAMS Rules for the particular claims asserted. Executive and the Company shall follow the JAMS Rules applicable to initial
filing fees, but in no event will Executive be responsible for any portion of those fees in excess of the filing or initial appearance
fees applicable to court actions in the jurisdiction where the arbitration will be conducted. The Company otherwise shall pay all costs
and expenses unique to arbitration, including without limitation the arbitrator’s fees. The arbitrator must follow applicable law
and may award only those remedies that would have applied had the matter been heard in court. All Arbitrable Claims must be brought within
the statutes of limitations applicable to such claims. The arbitrator’s decision must be in writing and contain findings of fact
and conclusions of law. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction. This Agreement affects
Executive’s ability to participate in class, collective or representative actions. Both the Company and Executive agree to bring
any dispute in arbitration on an individual basis only, and not on a class, collective, or private attorney general representative basis
on behalf of others. There will be no right or authority for any dispute to be brought, heard or arbitrated as a class, collective, representative
or private attorney general action, or as a member in any such class, collective, representative or private attorney general proceeding
(“Class Action Waiver”). This Class Action Waiver does not apply to any claim Executive brings in arbitration as a
private attorney general solely on his own behalf and not on behalf of others. Notwithstanding any other provision of this Agreement
or the JAMS Rules, disputes regarding the validity, enforceability or breach of the Class Action Waiver may be resolved only by a civil
court of competent jurisdiction and not by an arbitrator.

 

6.4 Notices. All Notices and all other communications which are required to be given under this Agreement must be in writing
and shall be deemed to have been duly given when (i) personally delivered, (ii) mailed by United States registered or certified mail
postage prepaid, (iii) sent via a nationally recognized overnight courier service, (iv) sent via e-mail to the recipient, in each case
as follows:

 

	 	If to Company:	MDxHealth, Inc.
	 	 	15279 Alton Parkway, Suite 100
	 	 	Irvine CA 92618,
	 	 	Attn: General Counsel (Confidential)
	 	 	Email: joseph.sollee@mdxhealth.com
	 	 	 
	 	If to Executive:	Ron Kalfus

  

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or
such other address or addresses as either party hereto shall have designated by notice in writing to the other party hereto. Such notices
shall be deemed given on the date on which personally served or emailed, or if by mail or courier on the third (3rd) day after being
posted or on the date of actual receipt, whichever is earlier.

 

6.5 Independent Counsel. Each party acknowledges that it has been represented by independent counsel of its choice, or has
had the opportunity to be represented by independent counsel of its choice, and that to the extent, if any, that it desired, has availed
itself of this right and opportunity throughout all negotiations that have preceded the execution of this Agreement, and that it has
executed the same with the consent and upon the advice of such independent counsel. Accordingly, any rule of law or any legal decision
that would require interpretation of any claimed ambiguities in this Agreement against the drafting party has no application and is expressly
waived, and the parties agree to all of the provisions in this Agreement based on the advice of their respective counsel.

 

6.6 Conditions to Employment. This Agreement and Executive’s employment are also contingent upon Executive’s proof
of identity and work eligibility. Under the Immigration Reform and Control Act of 1986, employers are required to verify the identity
and employment eligibility of all new hires within three (3) business days of their first day of work. To assist the Company in complying
with this requirement, Executive is required to bring appropriate documents with him on his first day. This Agreement and Executive’s
employment are contingent upon successful completion of a reference check and/or background check.

 

6.7 Taxes. All payments under this Agreement will be made less deductions and withholdings required by law.

 

6.8 The Company’s Property. The Executive, upon the termination of Executive’s employment for any reason or, if
earlier, upon the Company’s reasonable request, shall promptly return all Property (as defined below) that had been entrusted or
made available to Executive by the Company. For purposes of this Agreement, “Property” means all records, files, memoranda,
reports, price lists, customer lists, drawings, plans, sketches, keys, codes, computer hardware and software and other property of any
kind or description prepared, developed or acquired by Executive during Executive’s employment by the Company or its predecessors
in interest (and any duplicates of any such property) together with any and all information, ideas, concepts, discoveries, and inventions
and the like conceived, made, developed or acquired at any time by Executive individually or with others during Executive’s employment
that relate to the Company’s business.

 

6.9 Resignation From Corporate Positions. The Executive, upon the termination of Executive’s employment shall promptly
resign from any appointments as an officer or board member of the Company and each of its affiliates, subsidiaries, parent company, successors
and assigns.

 

6.10 Section
409A of the Code. It is the intention of the parties to this Agreement that no payment or entitlement pursuant to this Agreement
will give rise to any adverse tax consequences under Section 409A of the Code (“Section 409A”) and that such payments or
entitlements to which the Executive is or could become entitled to under this Agreement are intended to be exempt from or comply
with Section 409A, with the payments intended to be exempt under the “short-term deferral” and “separation
pay” exceptions to the maximum extent permitted under Section 409A, and this Agreement shall be interpreted and administered
in a manner consistent with such intent. Further, no effect shall be given to any provision herein in a manner that reasonably could
be expected to give rise to adverse tax consequences under Section 409A. Notwithstanding the foregoing, the Company may unilaterally
amend the terms of this Agreement to avoid the application of, or to comply with, Section 409A, in a particular circumstance or as
necessary or desirable to satisfy any of the requirements under Section 409A or to mitigate any additional tax, interest and/or
penalties that may apply under Section 409A if exemption or compliance is not practicable, but the Company shall not be under any
obligation to make any such amendment. For purposes of Section 409A, each installment payment provided under this Agreement shall be
treated as a separate and distinct payment. Nothing in this Agreement shall provide a basis for any person to take action against
the Company or any affiliate thereof based on matters covered by Section 409A, including the tax treatment of any amount paid under
the Agreement, and neither the Company nor any of its affiliates shall under any circumstances have any liability to the Executive
or his estate or any other party for any taxes, penalties or interest due on amounts paid or payable under this Agreement, including
taxes, penalties or interest imposed under Section 409A.

 

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Without
limiting the generality of the foregoing and anything in this Agreement to the contrary notwithstanding, if amounts or benefits payable
by reference to the timing of the Executive’s termination of employment constitute non-qualified deferred compensation subject
to Section 409A, as determined in the Company’s sole discretion, (i) such amounts or benefits shall not be paid unless the Executive
experiences a “separation from service” (within the meaning of Section 409A), (ii) to the extent that any payment period
conditioned on the Executive’s execution of a release commences in one calendar year and ends in the subsequent calendar year,
such amounts or benefits shall be paid in the second calendar year; and (iii) if Executive is a “specified employee” (within
the meaning of Section 409A) as of the date of Executive’s separation from service, such amounts or benefits shall not be paid
until the date that is six months and one day following the date of Executive’s separation from service, or if earlier, the date
of Executive’s death.

 

6.11 Golden Parachute. In the event that the benefits provided for in this Agreement (together with any other
benefits or amounts) otherwise constitute “parachute payments” within the meaning of Section 280G of the Code and would,
but for this Section 6.11 be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”),
then Executive’s benefits under this Agreement shall be reduced to the extent necessary such that no portion of the such benefits
would be subject to the Excise Tax. In the event of a reduction of benefits hereunder, the Consulting Firm (as defined below) shall determine
which benefits shall be reduced so as to achieve the principle set forth in the preceding sentence. In no event shall the foregoing be
interpreted or administered so as to result in an acceleration of payment or further deferral of payment of any amounts (whether under
this Agreement or any other arrangement) in violation of Section 409A. Unless the Company and Executive otherwise agree in writing, all
determinations required to be made under this Section 6.11, including the manner and amount of any reduction in Executive’s
benefits under this Agreement, and the assumptions to be utilized in arriving at such determinations, shall be made in writing in good
by the accounting firm designated by the Company (the “Consulting Firm”). In the event that the Consulting Firm (or
any affiliate thereof) is unable or unwilling to act, Executive may appoint a nationally recognized public accounting firm to make the
determinations required hereunder (which accounting firm shall then be referred to as the Consulting Firm hereunder). All fees and expenses
of the Consulting Firm shall be borne solely by the Company, and the Company shall enter into any agreement requested by the Consulting
Firm in connection with the performance of the services hereunder. For purposes of making the calculations required by this Section
6.11, the Consulting Firm may make reasonable assumptions and approximations concerning the application of Sections 280G and 4999
of the Code. The Company and Executive shall furnish to the Consulting Firm such information and documents as the Consulting Firm may
reasonably request to make a determination under this Section 6.11.

 

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6.12 Legal Representatives. Upon the death or disability of Executive, any payments due under this Agreement shall
be paid to Executive’s legal representatives.

 

6.13 Representations. Executive represents that he has not been debarred nor received notice of any action or
threat with respect to his debarment under the provisions of the Generic Drug Enforcement Act of 1992, 21 U.S.C. § 335 (a). Executive
agrees promptly to notify Company upon receipt of any such notice and further agree, upon Company’s request, to provide a separate
written certification, on a form provided by Company, to this effect.

 

6.14 Shareholder Approval by Parent. The provisions of this Agreement that contain obligations for the Company
and/or create rights for the Executive in function of a change of control over the Parent or the Group are subject to the approval by
the general shareholders meeting of the Parent in accordance with article 556 of the Belgian Companies Code of 7 May 1999 (as amended).
Other provisions in relation to variable remuneration are subject to the approval by the general shareholders meeting of the Parent.

 

6.15 Severability. If any term, provision, covenant or condition of this Agreement is held to be invalid, void,
or unenforceable, the remainder of the provisions of this Agreement shall remain in full force and effect and shall in no way be affected,
impaired or invalidated thereby.

 

6.16 Survival. Articles III, IV, V, and VI shall survive the termination of this Agreement.

 

6.17 Entire Agreement; Employment Amendments; Waiver. This Agreement, together with the Proprietary Information
and Inventions Agreement, is the entire agreement between the parties hereto concerning the subject matter hereof and supersedes and
replaces all prior or contemporaneous agreements or understandings between the parties. This Agreement may not be amended or modified
in any manner, except by an instrument in writing signed by Executive and the President or Vice President of the Company. Failure of
either party to enforce any of the provisions of this Agreement or any rights with respect thereto or failure to exercise any election
provided for herein shall in no way be considered to be a waiver of such provisions, rights or elections or in any way effect the validity
of this Agreement. The failure of either party to exercise any of said provisions, rights or elections shall not preclude or prejudice
such party from later enforcing or exercising the same or other provisions, rights or elections which it may have under this Agreement.

 

6.18
Governing Law. This Agreement shall be governed by and construed in all respects in accordance with the laws of the State of California.
The Executive acknowledges and agrees that the Company is his sole employer, and that his employment relationship is only subject to
California law. With the exception of “Arbitrable Claims” as defined in Section 6.3, the federal courts and/or state courts
of the State of California, Orange County shall have exclusive jurisdiction to adjudicate any dispute arising out of this Agreement and/or
employment relationship or termination thereof and Executive consents to such jurisdiction and venue.

 

6.19 Attorneys’ Fees. In the event of any action for the breach of this Agreement, the prevailing party
shall be entitled to reasonable attorneys’ fees, costs and expenses incurred in connection with such action.

 

6.20 Successors And Assigns. This Agreement and Executive’s obligations hereunder will be binding upon his
heirs, executors, administrators and other legal representatives and will be for the benefit of the Company, its successors, and its
assigns. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all
or substantially all of the business and/or assets of the Company or the Parent to expressly assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

 

	“Executive”	 	“Company”
	 	 	 	 	 
	By: 	/s/ Ron Kalfus	 	By:	/s/ Michael McGarrity
	 	Ron Kalfus	 	 	Michael McGarrity, CEO

 

    10

    

    

 

Exhibit
1

 

PROPRIETARY
INFORMATION AND INVENTIONS AGREEMENT

 

This
PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT (“Agreement”), effective as of _________________, ___, ____,
is executed by me, ________________, in favor of MDxHealth, Inc. (“Company”).

 

As
a condition of my employment by Company, and in consideration of my employment and the compensation previously and hereafter paid to
me by Company, I agree to the following:

 

		1.	PROTECTION
OF CONFIDENTIAL INFORMATION

 

(a) Company Information. I acknowledge that during my employment by the Company I will have access to confidential information
of the Company and its affiliates, subsidiaries, parent company, successors and assigns (collectively, “Affiliated Entities”;
references to Company in this Section 1 include Affiliated Entities). I agree at all times during my employment with the Company and
following termination thereof for any reason, to hold in the strictest confidence, and not use, except for the benefit of the Company,
or to disclose to any person, firm or corporation without written authorization of the Chief Executive Officer, any Company Confidential
Information. I understand that my unauthorized use or disclosure of Company Confidential Information during my employment will lead to
disciplinary action, up to and including immediate termination and legal action by the Company. I understand that “Company Confidential
Information” means any non-public information that relates to the actual or anticipated business, research or development activities
of the Company, or to the Company’s technical data, trade secrets or know-how, including, but not limited to, research, product
plans or other information regarding the Company’s products or services and markets therefor, software, source code, developments,
inventions, discoveries, processes, formulas, technology, documentation, designs, drawings, engineering processes, data, marketing information,
customer lists and customers, suppliers, employees, financial and other business information; provided, however Company Confidential
Information does not include any of the foregoing items to the extent the same have become publicly known and made generally available
through no wrongful act of mine or of others. I understand that nothing herein is intended to preclude or dissuade me from engaging in
activities protected by state and federal law, including the National Labor Relations Act such as discussing wages, benefits, or terms
and conditions of employment, including discussions regarding forming, joining or supporting labor unions, raising complaints about working
conditions for my and my fellow employees’ mutual aid or protection or other legally protected activities under applicable law.

 

(b) Former Employer Information. I agree that during my employment with the Company, I will not improperly use, disclose, or
induce the Company to use any proprietary information or trade secrets of any former or concurrent employer, or any other company, person,
or entity. I further agree that I will not bring onto the premises of the Company or transfer onto the Company’s technology systems
any unpublished document, proprietary information or trade secrets belonging to any such employer, company, person or entity unless consented
to in writing by both the Company and such employer, company, person or entity.

 

    11

    

    

 

(c) Third Party Information. I recognize that the Company may have received and in the future may receive from third parties
associated with the Company, e.g., the Company’s customers, suppliers, licensors, licensees, partners, joint venturers or collaborators
(“Associated Third Parties”) their confidential or proprietary information (“Associated Third Party Confidential
Information”). By way of example, Associated Third Party Confidential information may include the practices, technology and
requirements of Associated Third Parties, and information related to the business conducted between the Company and such Associated Third
Parties. I agree at all times during my employment with the Company and thereafter to hold in the strictest confidence, and not to use
or to disclose to any person, firm or corporation any Associated Third Party Confidential Information, except as necessary in carrying
out my work for the Company consistent with the Company’s agreement with such Associated Third Parties. I understand that my unauthorized
use or disclosure of Associated Third Party Confidential Information during my employment will lead to disciplinary action, up to and
including immediate termination and legal action by the Company.

 

(d) Immunity From Liability For Confidential Disclosure Of Trade Secret(s). Pursuant to the Defend Trade Secrets Act of 2016
(18 U.S.C. 1833(b)), I shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure
of a trade secret that is made in confidence either directly or indirectly to a Federal, State, or local government official, or to an
attorney, solely for the purpose of reporting or investigating, a violation of law. I shall not be held criminally or civilly liable
under any Federal or State trade secret law for the disclosure of a trade secret made in a complaint, or other document filed in a lawsuit
or other proceeding, if such filing is made under seal. If I file a lawsuit alleging retaliation by the company for reporting a suspected
violation of the law, I may disclose the trade secret to my attorney and use the trade secret in the court proceeding, so long as any
document containing the trade secret is filed under seal and does not disclose the trade secret, except pursuant to court order. This
paragraph will govern to the extent it may conflict with any other provision of this Agreement.

 

(e) Protected Rights. No sections in this Agreement, including the sections addressing my confidentiality obligations, is intended
to or shall limit, prevent, impede or interfere in any way with my right, without prior notice to the Company, to provide information
to the government, participate in investigations, testify in proceedings regarding the Company’s past or future conduct, or engage
in any activities protected under whistleblower statutes.

 

		2.	INVENTIONS
AND ORIGINAL WORKS

 

(a) Inventions And Original Works Retained And Licensed To The Company. I have attached hereto as Exhibit A, a list
describing all inventions, discoveries, original works of authorship, developments, improvements, and trade secrets, which were conceived
in whole or in part by me prior to my employment with the Company to which I have any right, title or interest, which are subject to
California Labor Code Section 2870 attached hereto as Exhibit B, and which relate to the Company’s proposed business, products,
or research and development (“Excluded Inventions”); or, if no such list is attached, I represent and warrant that
there are no such Excluded Inventions. Furthermore, I represent and warrant that the inclusion of any Excluded Inventions on Exhibit
A of this Agreement will not materially affect my ability to perform all obligations under this Agreement. If, in the course of my
employment with the Company, I incorporate into or use in connection with any product, process, service, technology or other work by
or on behalf of Company any Excluded Invention, I hereby grant to the Company a nonexclusive, royalty-free, fully paid-up, irrevocable,
perpetual, worldwide license, with the right to grant and authorize sublicenses, to make, have made, modify, use, import, offer for sale,
and sell such Excluded Invention as part of or in connection with such product, process, service, technology or other work and to practice
any method related thereto.

 

    12

    

    

 

(b) Inventions And Original Works Assigned To The Company. I agree that I will promptly make full written disclosure to the
Company, will hold in trust for the sole right and benefit of the Company, and I hereby assign and transfer to the Company, or its designee,
all my worldwide right, title, and interest in and to (i) any and all inventions, original works of authorship, developments, concepts,
improvements, designs, discoveries, know-how, ideas, software, compositions of matter and trade secrets, whether or not patentable or
registrable under patent, copyright or similar laws, which I may solely or jointly conceive, create, develop, reduce to practice, or
otherwise make (or cause to be conceived, created, developed, reduced to practice or made), during the entire period of time I am in
the employ of the Company (including during my off-duty hours), or with the use of Company’s equipment, supplies, facilities, or
Company Confidential Information, except as provided in Section 2(g) below (collectively referred to as “Inventions”)
(ii) any and all trade secrets, patent rights, copyrights, moral rights, and other intellectual property rights anywhere in the world
(collectively referred to as “Intellectual Property Rights”) embodied in or related to such Inventions. I further
acknowledge that all original works of authorship which are made by me (solely or jointly with others) within the scope of and during
the period of my employment with the Company and which are protectable by copyright are “works made for hire,” as that term
is defined in the United States Copyright Act, and the Company will be considered the author and owner of such works. I understand and
agree that the decision whether or not to commercialize or market any Inventions is within the Company’s sole discretion and for
the Company’s sole benefit and that no royalty or other consideration will be due to me as a result of the Company’s efforts
to commercialize or market any such Inventions.

 

(c) Moral Rights. To the extent permitted by applicable law, I assign to the Company all “moral rights” I may have
in any Inventions, except as provided in Section 2(g) below. If and to the extent an assignment or transfer of any Moral Rights is not
valid or enforceable under any applicable law, I grant the Company a worldwide, unlimited, royalty-free right and license in and to,
and I hereby forever waive and agree never to assert, any and all Moral Rights I may have in or with respect to any Inventions even after
termination of my employment or work on behalf of the Company. “Moral Rights” mean any rights to attribution or claim
authorship of a work of authorship, to object to or prevent the modification of any work of authorship, or to withdraw from circulation
or control the publication or distribution of any work, and any similar right, existing under judicial or statutory law of any country
or jurisdiction in the world, or under any treaty, regardless of whether or not such right is denominated or generally referred to as
a “moral right.”

 

(d) Assignment of Claims. I further perpetually, irrevocably, and unconditionally assign, transfer, and convey to Company and
its successors and assigns all claims for past, present and future infringement or misappropriation of the Inventions, including all
rights to sue for and to receive and recover all past, present and future profits and damages accruing from any infringement, misappropriation
or violation of Intellectual Property Rights in the Inventions.

 

    13

    

    

 

(e) Maintenance of Records. I agree to keep and maintain adequate, accurate and current written records of all Inventions made
by me (solely or jointly with others) during the term of my employment with the Company. These records will be in the form of notes,
sketches, drawings, electronic files, reports and any other format that may be specified by the Company. Such records will be available
to and remain the sole property of the Company at all times.

 

(f) Further Assurances. I agree to assist the Company, or its designee, at the Company’s expense, in every proper
way to secure the Company’s rights in the Inventions and any rights relating thereto in any and all countries, including the disclosure
to the Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths,
assignments and all other instruments which the Company shall deem proper or necessary in order to apply for, register, obtain, maintain,
defend, and enforce such rights and in order to assign and convey to the Company, its successors, assigns, and nominees the sole and
exclusive rights, title and interest in and to such Inventions and any rights relating thereto, and testifying in a suit or other proceeding
relating to such Inventions and any rights relating thereto. I further agree that my obligation to execute or cause to be executed, when
it is in my power to do so, any such instrument or papers shall continue after the termination of this Agreement. If the Company is unable
because of my mental or physical incapacity or for any other reason to secure my signature with respect to any Inventions including,
without limitation, to apply for or to pursue any application for any United States or foreign patents or copyright registrations covering
such Inventions, then I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent
and attorney in fact, to act for and in my behalf and stead to execute and file any papers, oaths and to do all other lawfully permitted
acts with respect to such Inventions with the same legal force and effect as if executed by me.

 

(g) Exception to Assignments. I understand that the provisions of this Agreement requiring assignment to the Company do not
apply to any invention which qualifies fully under the provisions of Section 2870 of the California Labor Code, a copy of which is attached
hereto as Exhibit B. I will advise the Company promptly in writing of any inventions, original works of authorship or trade secrets
that I believe meet the criteria in California Labor Code Section 2870; and I will at that time provide to the Company in writing all
evidence necessary to substantiate that belief.

 

		3.	NO
                                            BREACH OF DUTY

 

I
represent that my performance of all the terms of this Agreement and as an employee of the Company does not, and to the best of my present
knowledge and belief, will not breach any agreement or duty to keep in confidence proprietary information acquired by me in confidence
or in trust prior to my employment by the Company. I agree I will not enter into any agreement either written or oral in conflict with
the terms of this Agreement. I am not at the present time restricted from being employed by the Company or entering into this Agreement.
I represent that I have no other agreements, relationships or commitments to any other person or entity that conflict with my obligations
to the Company under this Agreement or my ability to become employed and perform the services for which I am being hired by the Company.
I further agree that if I have signed a confidentiality agreement or similar type of agreement with any former employer or other entity,
I will comply with the terms of any such agreement to the extent that its terms are lawful under applicable law. I represent and warrant
that after undertaking a careful search (including searches of my computers, cell phones, electronic devices and documents), I have returned
all property and confidential information belonging to all prior employers.

 

    14

    

    

 

		4.	TERMINATION
                                            CERTIFICATION

 

Upon
separation from employment with the Company, I agree to immediately sign and deliver to the Company the “Termination Certification”
attached hereto as Exhibit C. I also agree to keep the Company advised of my home and business address for a period of three (3)
years after termination of my employment with the Company, so that the Company can contact me regarding my continuing obligations provided
by this Agreement.

 

		5.	NOTIFICATION
                                            OF NEW EMPLOYER

 

In
the event that I leave the employ of the Company, I hereby grant consent to notification by the Company to my new employer about my obligations
under this Agreement.

 

		6.	USE
                                            AND RETURN OF COMPANY PROPERTY

 

I
will not remove (either physically or electronically) any property belonging to the Company or MDxHealth group, from the Company’s
or MDxHealth group’s premises, except as required in the ordinary course of my employment, unless the Company grants me authorization
to do so. I agree that upon separation from employment with the Company or on demand by the Company during my employment, I will immediately
deliver to the Company (and will not keep in my possession, recreate or deliver to anyone else) any and all Company and MDxHealth group
property, including, but not limited to, Company Confidential Information, Associated Third Party Confidential Information, as well as
all devices and equipment belonging to the Company and MDxHealth group (including computers, handheld electronic devices, telephone equipment,
and other electronic devices), Company credit cards, records, data, notes, notebooks, reports, files, proposals, lists, correspondence,
specifications, drawings, blueprints, sketches, materials, photographs, charts, all other documents and property, and reproductions of
any of the aforementioned items that were developed by me pursuant to my employment with the Company, obtained by me in connection with
my employment with the Company, or otherwise belonging to the Company or its Affiliates, including, without limitation, those records
maintained pursuant to Section 2(e). I also consent to an exit interview to confirm my compliance with this Section 6.

 

		7.	NO
                                            EMPLOYMENT AGREEMENT

 

Nothing
in this Agreement changes my status as an express at-will employee. I agree that unless specifically provided in another writing signed
by me and the Chief Executive Officer, my employment by the Company is not for a definite period of time. Rather, my employment relationship
with the Company is one of employment at will and may be terminated by either myself or the Company at any time, with or without cause.

 

    15

    

    

 

		8.	GENERAL
                                            PROVISIONS

 

(a) Governing Law and Jurisdiction. This Agreement will be governed by the laws of the State of California without giving effect
to any choice of law rules or principles that may result in the application of the laws of any jurisdiction other than California. I
expressly agree that the federal courts and/or state courts of the State of California, Orange County, shall have exclusive jurisdiction
to adjudicate any dispute arising out of this Agreement, including any lawsuit filed against me by the Company.

 

(b) Entire Agreement. This Agreement, together with the Exhibits herein, sets forth the entire agreement and understanding
between the Company and me relating to the subject matter herein and supersedes all prior discussions, representations and agreements,
written or oral, between us. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will
be effective unless in writing signed by the Chief Executive Officer and me. Any subsequent change or changes in my duties, salary or
compensation will not affect the validity or scope of this Agreement.

 

(c) Severability. If one or more of the provisions in this Agreement are deemed void by law, then the remaining provisions
will continue in full force and effect.

 

(d) Successors And Assigns. This Agreement and my obligations hereunder will be binding upon my heirs, executors, administrators
and other legal representatives and will be for the benefit of the Company, its successors, and its assigns.

 

(e) Remedies. By virtue of the duties and responsibilities attendant with my engagement by the Company, I understand that great
loss and irreparable damage would be suffered by the Company if I should breach any of the terms of this Agreement. I acknowledge that
each such term is reasonably necessary to protect and preserve the interests of the Company. Therefore, in addition to all other remedies
available to the Company at law or in equity, the Company shall be entitled to, without posting a bond, specific performance, a temporary
restraining order and a permanent injunction to prevent a breach or the continuation of a breach of any of the terms of this Agreement.

 

(f) Waiver. Waiver by the Company of a breach of any provision of this Agreement will not operate as a waiver of any
other or subsequent breach.

 

(g) Survivorship. My obligations under this Agreement, and the rights of the Company hereunder, will survive termination of
my employment with the Company.

 

(h) Agreement Read, Understood and Fair. I have carefully read and considered the provisions of this Agreement and agree that
all of the restrictions set forth are fair and reasonable and are reasonably required for the protection of the interests of the Company.
The Company acknowledges that the goodwill and value of the Company is enhanced by these provisions and that said enhancement is desired
by me.

 

(i) Effective Date. The Agreement shall be deemed retroactive to the first day of my employment by the Company.

 

[The
remainder of this page intentionally left blank]

 

    16

    

    

 

(j) Signatures. This Agreement may be signed in two counterparts, each of which shall be deemed an original, with
the same force and effectiveness as though executed in a single document.

 

	Ron Kalfus	 
	 	 	 
	 	 
	(Signature)	 
	 	 	 
	Date: 	 	 
	 	 	 
	ACCEPTED AND AGREED TO:	 
	 	 	 
	MDxHealth, Inc.	 
	 	 	 
	By: 	 	 
	 	 	 
	Name: 	          	 
	 	 	 
	Title: 	 	 
	 	 	 
	Date: 	 	 

 

    17

    

    

 

EXHIBIT
A

 

LIST
OF EXCLUDED INVENTIONS AND ORIGINAL WORKS OF AUTHORSHIP

 

	TITLE	 	DATE	 	IDENTIFYING NUMBER OR BRIEF DESCRIPTION
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

____
No inventions or improvements

 

____
Additional sheets attached

 

	Signature of Employee:	 	 
	 	 	 
	Print Name of Employee:	 	 
	 	 	 
	Date:	 	 

 

    18

    

    

 

EXHIBIT
B

 

CALIFORNIA
LABOR CODE SECTION 2870

 

EMPLOYMENT
AGREEMENTS, ASSIGNMENT OF RIGHTS

 

California
Labor Code § 2870. Invention on Own Time - Exemption from Agreement.

 

		(a)	Any
                                            provision in an employment agreement which provides that an employee shall assign, or offer
                                            to assign, any of his or her rights in an invention to his or her employer shall not apply
                                            to an invention that the employee developed entirely on his or her own time without using
                                            the employer’s equipment, supplies, facilities, or trade secret information except
                                            for those inventions that either:

 

		(1)	Relate
                                            at the time of conception or reduction to practice of the invention to the employer’s
                                            business, or actual or demonstrably anticipated research or development of the employer.

 

		(2)	Result
                                            from any work performed by the employee for the employer.

 

		(b)	To
                                            the extent a provision in an employment agreement purports to require an employee to assign
                                            an invention otherwise excluded from being required to be assigned under subdivision (a),
                                            the provision is against the public policy of this state and is unenforceable.

 

    19

    

    

 

EXHIBIT
C

 

MDxHealth,
Inc.

 

TERMINATION
CERTIFICATION

 

This
is to certify that I do not have in my possession, nor have I failed to return, any devices, records, software, data, notes, reports,
proposals, lists, and sources of customers, lists of employees, proposals to customers, drafts of proposals, business plans and projections,
reports, job notes, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property,
or reproductions of any aforementioned items belonging to MDxHealth, Inc. (“Company”), its parent, subsidiaries, affiliates,
successors or assigns (together “Affiliated Entities”).

 

I
further certify that I have complied with all terms of the Company’s Proprietary Information and Inventions Agreement signed by
me, including the reporting of any inventions and original works of authorship (as defined therein) conceived or made by me (solely or
jointly with others) covered by that Agreement.

 

I
further agree that, in compliance with the Proprietary Information and Inventions Agreement, I will preserve as confidential all trade
secrets, confidential knowledge, data or other proprietary information relating to products, processes, know-how, designs, formulas,
developmental or experimental work, computer programs, data bases, other original works of authorship, customer lists, business plans,
financial information or other subject matter pertaining to any business of the Company and Affiliated Entities, and their customers,
consultants or licensees.

 

	Date:	 	 	 
	 	 	 	Ron Kalfus
	 	 	 	 
	 	 	 	 
	 	 	 	Signature

 

 

20Exhibit 10.12

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED
FROM THIS EXHIBIT IN ACCORDANCE WITH REGULATION S-K ITEM 601(B)(10)(IV). ASTERISKS DENOTE OMISSIONS. SUCH INFORMATION IS BOTH (i) IMMATERIAL
AND (ii) IS OF A TYPE REGULARLY TREATED AS PRIVATE OR CONFIDENTIAL BY THE REGISTRANT.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AMENDED AND RESTATED

EXCLUSIVE LICENSE AGREEMENT

 

BETWEEN

 

THE JOHNS HOPKINS UNIVERSITY

 

&

 

ONCOMETHYLOME SCIENCES SA

 

JHU Ref. No.: 3970

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

AMENDED AND RESTATED

LICENSE AGREEMENT

 

This Amended and Restated
License Agreement (the “Agreement”) dated September 1, 2004 is entered into by and between The Johns Hopkins University, a
Maryland corporation having an address at 3400 N. Charles Street, Baltimore, Maryland, 21218-2695 (“JHU”) and OncoMethylome
Sciences SA, a corporation having an address at Niveau +2, Tour 4 de Pharmacie (batiment 36), Ulg CHU, Av. de l’Hopital no.
1, 4000 Sart-Tilman (Liege), Belgium (“Company”), with respect to the following:

 

RECITALS

 

WHEREAS, JHU and Company are
parties to a Collaborative Research Agreement (the “CRA”) dated as of the 8th day of September, 1999, pursuant
to which JHU has granted an option to Company to license certain rights and technology developed pursuant to the CRA, a copy of which
is incorporated herein by reference; and

 

WHEREAS, as a center for research
and education, JHU is interested in licensing PATENT RIGHTS and TECHNOLOGY RIGHTS (both hereinafter defined) in a manner that will benefit
the public by facilitating the distribution of useful products and the utilization of new processes, but is without capacity to commercially
develop, manufacture, and distribute any such products or processes; and

 

WHEREAS, a valuable invention(s)
entitled “Method of Detection of Prostate Cancer” (JHU Ref. No. 3970) was developed during foe course of the RESEARCH PROJECT
(as this term is defined herein) by Dr. David Sidransky (hereinafter, “Inventor”); and

 

WHEREAS, JHU has acquired
through assignment all rights, title and interest, with the exception of certain retained rights by the United States government, in its
interest in said valuable inventions; and

 

WHEREAS, Company obtained
certain rights in such inventions pursuant to the terms of that certain License Agreement dated as of August 29, 2003 by and between JHU
and the Company (the “Prior Agreement”); and

 

WHEREAS, JHU and Company desire
to amend and restate in its entirety the Prior Agreement.

 

NOW THEREFORE, in consideration
of the premises and the mutual promises and covenants contained in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto agree that all provisions of, rights granted and covenants
made in the Prior Agreement are extinguished by the execution hereof and that such Prior Agreement shall be superseded and replaced in
its entirety by this Agreement, and the parties hereto further agree as follows:

 

Article
1

DEFINITIONS

 

All definitions included in
the CRA and used in this Agreement are incorporated by reference. All references to particular Exhibits, Articles or Paragraphs shall
mean the Exhibits to, and Paragraphs and Articles of, this Agreement, unless otherwise specified. For the purposes of this Agreement and
the Exhibits hereto, the following words and phrases shall have the following meanings:

 

1.1 “AFFILIATED
COMPANY” as used herein in either singular or plural shall mean any corporation, company, partnership, joint venture or other
entity, which controls, is controlled by or is under common control with Company. For purposes of this Paragraph 1.1, control shall mean
the direct or indirect ownership of at least fifty-percent (50%).

 

    Page 1 of 20

     

    

 

1.2 “EFFECTIVE
DATE” of this Agreement shall mean August 29, 2003.

 

1.3 “EXCLUSIVE
LICENSE” shall mean a grant by JHU to Company of its entire right and interest in the PATENT RIGHTS subject to rights retained
by the United States Government, if any, in accordance with the Bayh-Dole Act of 1980 (established by P.L. 96-517 and amended by P.L.
98-620, codified at 35 USC § 200 et. seq. and implemented according to 37 CFR Part 401), and subject to the retained right of
JHU to make, have made, provide and use for its and The Johns Hopkins Health Systems’ purposes LICENSED PRODUCT(S) and LICENSED
SERVICE(S), including the ability to distribute any biological material disclosed and/or claimed in PATENT RIGHTS for nonprofit academic
research use to non-commercial entities as is customary in the scientific community.

 

1.4 “EXCLUSIVE
LICENSED FIELD” shall mean (a) diagnostics, including but not limited to tests performed at Company’s and its customers’
service laboratories, clinical research, clinical grade reagents, and kits for diagnostic tests and (b) research grade reagents and kits
for research. For the avoidance of doubt, diagnostics does not include the sale or offer for sale of therapeutics.

 

1.5 “LICENSED
FIELD” shall mean (a) the EXCLUSIVE LICENSED FIELD and (b) the field of SCIENTIFIC RESEARCH, to the extent not already included
in the EXCLUSIVE LICENSED FIELD.

 

1.6 “LICENSED
PRODUCT(S)” as used herein in either singular or plural shall mean any process or method, material, compositions, drug, or other
product, the manufacture, use or sale of which would constitute, but for the license granted to Company pursuant to this Agreement, an
infringement of a claim of PATENT RIGHTS (infringement shall include, but is not limited to, direct, contributory, or inducement to infringe).

 

1.7 “LICENSED
SERVICE(S)” as used herein in either singular or plural shall mean the performance on behalf of a third party of any method
including any diagnostic tests or the use of any product or composition which would constitute, but for the license granted to Company
pursuant to this Agreement, an infringement of a claim of the PATENT RIGHTS, (infringement shall include, but not be limited to, direct,
contributory or inducement to infringe).

 

1.8 “NET
SALES” shall mean gross revenues and fees actually received by Company, AFFILIATED COMPANY and/or SUBLICENSEE(S) from the sale
and/or provision of LICENSED PRODUCT(S), less trade discounts allowed, refunds, rebates (price reductions, including Medicaid and similar
types of rebates, e.g. chargebacks), returns and recalls, sales and use taxes, duties and similar governmental assessments and , to the
extent actually paid by seller and/or charged by seller to the buyer, transportation, packing and shipping insurance; provided, however,
that if Company, AFFILIATED COMPANY and/or SUBLICENSEE(S) sells a PANEL, the gross sales revenues and fees attributable to such PANEL
shall be allocated on a pro rata basis among each assay comprising such PANEL, and NET SALES for purposes of royalty payments shall be
determined and calculated separately for each such assay hereunder (as independent products, services or, if an individual assay includes
Other Components (as defined below), combination products and/or services). In the event that Company, AFFILIATED COMPANY and/or SUBLICENSEE(S)
sells a LICENSED PRODUCT(S) in combination with other active components or services which are not LICENSED PRODUCT(S) (“Other Components”),
the NET SALES for purposes of royalty payments on the combination shall be calculated as follows:

 

(a) If
all LICENSED PRODUCT(S) and Other Components contained in the combination are available separately, the NET SALES for purposes of royalty
payments will be calculated by multiplying the NET SALES of the combination by the fraction A/A+B, where A is the separately available
price of all LICENSED PRODUCT(S) in the combination, and B is the separately available price for all Other Components in the combination.

 

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(b) If
the combination includes Other Components which are not sold separately (but all LICENSED PRODUCT(S) in the combination are available
separately), the NET SALES for purposes of royalty payments will be calculated by multiplying the NET SALES of the combination by A/C,
where A is the separately available price of all LICENSED PRODUCT(S) in the combination and C is the invoiced price of the combination
(or pro rata portion thereof attributable to the assay, if applicable); provided that COMPANY may elect instead, in its discretion, to
calculate NET SALES in accordance with Section 1.8(a), where B is the separately available price for all Other Components for which a
separately available price can be determined (thereby excluding from B any Other Components for which a separately available price is
not available).

 

(c) If
the LICENSED PRODUCTS contained in the combination are not sold separately, the NET SALES for such combination shall be NET SALES of such
combination as defined in the first sentence of this Paragraph 1.8. [***].

 

The term “Other Components”
shall include, without limitation, genetic or protein markers/reagents, amplification enzymes, DNA extraction tools, processing and detection
instruments and methods not covered in the PATENT RIGHTS; but shall exclude solvents, diluents, carriers, excipients or the like used
in formulating a product. By way of example only, set forth in Exhibit C hereto is a hypothetical calculation of NET SALES for purposes
of this Section 1.8 in connection with sales of a PANEL that includes a combination of Other Components.

 

1.9 “NET
SERVICE REVENUES” shall mean gross service revenues and fees actually received by Company, AFFILIATED COMPANY and/or SUBLICENSEE(S)
for the performance of LICENSED SERVICE(S) less trade discounts allowed, refunds, rebates (price reductions, including Medicaid and similar
types of rebates, e.g. chargebacks), returns and recalls, sales and use taxes, duties and similar governmental assessments imposed upon
and with specific reference to the LICENSED SERVICE(S) and transportation, packing and shipping insurance actually paid by seller and/or
charged by seller to the buyer; provided, however, that if Company, AFFILIATED COMPANY and/or SUBLICENSEE(S) provides a LICENSED SERVICE(S)
utilizing a PANEL, the gross sales revenues and fees attributable thereto shall be allocated on a pro rata basis among each assay comprising
such PANEL, and NET SERVICE REVENUES for purposes of royalty payments shall be determined and calculated separately for each such assay
hereunder (as independent products, services or, if an individual assay includes Other Components, combination products and/or services).
In the event that Company, AFFILIATED COMPANY and/or SUBLICENSEE(S) sells a LICENSED SERVICE(S) in combination with other services or
Other Components or as part of a kit (“Other Items”), the NET SERVICE REVENUES for purposes of royalty payments shall be calculated
as follows:

 

(a) If
all LICENSED SERVICE(S) and Other Items contained in the combination are available separately, the NET SERVICE REVENUES for purposes of
royalty payments will be calculated by multiplying the NET SERVICE REVENUES of the combination by the fraction A/A+B, where A is the separately
available price of all LICENSED SERVICE(S) in the combination, and B is the separately available price for all Other Items in the combination.

 

(b) If
the combination includes Other Items which are not sold separately (but all LICENSED SERVICE(S) in the combination are available separately),
the NET SERVICE REVENUES for purposes of royalty payments will be calculated by multiplying the NET SERVICE REVENUES of the combination
by A/C, where A is the separately available price of all LICENSED SERVICE(S) in the combination and C is the invoiced price of the combination
(or pro rata portion thereof attributable to the assay, if applicable); provided that COMPANY may elect instead, in its discretion, to
calculate NET SERVICE REVENUES in accordance with Section 1.9(a), where B is the separately available price for all Other Items for which
a separately available price can be determined (thereby excluding from B any Other Items for which a separately available price is not
available).

 

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(c) If
the LICENSED SERVICE(S) contained in the combination are not sold separately, the NET SERVICE REVENUES for such combination shall be NET
SERVICE REVENUES of such combination as defined in the first sentence of this Paragraph 1.9. [***]

 

1.10 “PANEL”
shall mean a panel or kit that includes multiple assays of different markers, which panel includes a LICENSED PRODUCT(S) and/or is utilized
in the provision of a LICENSED SERVICE(S).

 

1.11 “PATENT
RIGHTS” shall mean the U.S. patent application Serial No. 10,295,483 filed on November 15, 2002, and the PCT patent application
Serial No. PCT/US02/367 filed on November 15, 2002, and both assigned to JHU entitled “Method of Detection of Prostate Cancer”,
and the inventions disclosed and claimed therein, and all continuations, divisions, and reissues based thereof, and continuations-in-part
to the extent the claims of the continuation-in-part are supported by the disclosure in the parent application and any new matter added
to the continuation-in-part is unencumbered by a third party and supports the claims of the parent application, and any corresponding
foreign patent applications, and any patents, patents of addition or other equivalent foreign patent rights issuing, granted or registered
thereon.

 

1.12 “RESEARCH
PROJECT” shall mean the collaborative research program between JHU and Company described and funded in accordance with the CRA.

 

1.13 “SCIENTIFIC
RESEARCH” shall mean basic scientific research, including, without limitation, (a) in vitro or in vivo research (but not clinical)
studies directed to understanding biological sciences, (b) research directed to the identification and discovery of genetic targets for
therapeutic or diagnostic purposes, including, without limitation, high throughput screening and screening for new genetic targets for
genetic polymorphisms or product development, and (c) research studies directed to understanding environmental sciences, agricultural
sciences, forensic sciences, chemical sciences, cosmetic sciences, and related industrial applications. For avoidance of doubt, SCIENTIFIC
RESEARCH excludes the development of any therapeutic or diagnostic products or clinical trials for any diagnostic, pharmaceutical or other
therapeutic products.

 

1.14 “SUBLICENSEE(S)”
as used herein in either singular or plural shall mean any person or entity other than an AFFILIATED COMPANY to which Company has granted
a sublicense under this Agreement pursuant to which such entity is required to pay to Company royalties or other remuneration based on
such entity’s revenues or other income of any kind received in connection with the sale or distribution of LICENSED PRODUCTS or
provision of LICENSED SERVICES.

 

1.15 “TECHNOLOGY
RIGHTS” shall mean JHU’s rights not covered under PATENT RIGHTS in any technical information, know-how, process, procedure,
composition, device, method, formula, protocol, technique, software, design, drawing or data developed by Inventor in the performance
of the collaborative research program between JHU and Company described and funded in accordance with the CRA.

 

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1.16 “VALID
CLAIM” shall mean any claim of any issued or pending patent within PATENT RIGHTS that has not been (i) finally rejected or (ii)
declared invalid by a patent office or court of competent jurisdiction in any unappealed or unappealable decision.

 

Article
2

LICENSE GRANT

 

2.1 Grant.
Subject to the terms and conditions of this Agreement, JHU hereby grants to Company (i) an EXCLUSIVE LICENSE to make, have made, use,
import, offer for sale and sell the LICENSED PRODUCT(S) and to provide the LICENSED SERVICE(S) in the United States and worldwide under
the PATENT RIGHTS in the EXCLUSIVE LICENSED FIELD. (ii) a license on the most exclusive basis available to TECHNOLOGY RIGHTS to make,
have made, use, import, offer for sale and sell the LICENSED PRODUCT(S) and to provide the LICENSED SERVICE(S) in the United States and
worldwide in the EXCLUSIVE LICENSED FIELD and (iii) a non-exclusive license to make, have made, use, import, offer for sale and sell the
LICENSED PRODUCT(S) and to provide the LICENSED SERVICE(S) in the United States and worldwide under the PATENT RIGHTS in the field of
SCIENTIFIC RESEARCH, to the extent not included in the EXCLUSIVE LICENSE granted in clauses (i) or (ii) of this sentence. It is agreed
and understood that Company will make available on reasonable terms research reagents and research kits to the academic research community
for non-commercial research purposes. This Grant shall apply to the Company and any AFFILIATED COMPANY, except that any AFFILIATED COMPANY
shall not have the right to sublicense others as set forth in Paragraph 2.2 below. If any AFFILIATED COMPANY exercises rights under this
Agreement, such AFFILIATED COMPANY shall be bound by all terms and conditions of this Agreement, including but not limited to indemnity
and insurance provisions and royalty payments, which shall apply to the exercise of the rights, to the same extent as would apply had
this Agreement been directly between JHU and the AFFILIATED COMPANY. In addition, Company shall remain fully liable to JHU for all acts
and obligations of AFFILIATED COMPANY such that acts of the AFFILIATED COMPANY shall be considered acts of the Company.

 

2.2 Sublicense.
Company may sublicense to others under this Agreement, subject to the terms and conditions of this Paragraph and subject to JHU’s
prior written approval of the sublicense agreement or form thereof as applicable. Such approval shall not be unreasonably withheld, delayed
or conditioned. As a condition to its validity and enforceability, each sublicense agreement with a SUBLICENSEE shall: (a) incorporate
by reference the terms and conditions of this Agreement, (b) be consistent with the terms, conditions and limitations of this Agreement,
(c) prohibit SUBLICENSEE’s further sublicense of the rights delivered hereunder, (d) name JHU as an intended third party beneficiary
of the obligations of SUBLICENSEE without imposition of obligation or liability on the part of JHU or its Inventors to the SUBLICENSEE,
(e) specifically incorporate Paragraphs 6.2 “Representations by JHU”, 7.1 “Indemnification”, 10.1 “Use of
Name”, 10.4 “Product Liability” into the body of the sublicense agreement, and cause the terms used in therein to have
the same meaning as in this Agreement, and, (f) bear signature from JHU indicating JHU’s review and approval of the sublicense agreement.
Company shall provide to JHU each proposed sublicense agreement with a SUBLICENSEE, executed by both Company and proposed SUBLICENSEE,
for review, approval and signature by JHU. To the extent that any terms, conditions or limitations of any sublicense agreement are inconsistent
with this Agreement, those terms, conditions and limitations are null and void against JHU, even though JHU has approved the sublicense
in writing.

 

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2.3 Government
Rights. The United States Government may have acquired a nonexclusive, nontransferable, irrevocable, paid-up license to practice or
have practiced for or on behalf of the United States the inventions described in PATENT RIGHTS throughout the world. The rights granted
herein are additionally subject to: (i) the requirement that any LICENSED PRODUCT(S) produced for use or sale within the United States
shall be substantially manufactured in the United States (unless a waiver under 35 USC § 204 or equivalent is granted by the appropriate
United States government agency), (ii) the right of the United States government to require JHU, or its licensees, including Company,
to grant sublicenses to responsible applicants on reasonable terms when necessary to fulfill health or safety needs, and, (iii) other
rights acquired by the United States government under the laws and regulations applicable to the grant/contract award under which the
inventions were made.

 

Article
3

FEES, ROYALTIES, & PAYMENTS

 

3.1 License
Fee. Company shall pay or shall have paid to JHU within thirty (30) days of the EFFECTIVE DATE of this Agreement a license fee as
set forth in Exhibit A. JHU will not submit an invoice for the license fee, which is nonrefundable and shall not be credited against royalties
or other fees.

 

3.2 Minimum
Annual Royalties. Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties
shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary.
Running royalties accrued under Paragraph 3.3 and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE
shall be credited against the minimum annual royalties due on that anniversary date.

 

3.3 Running
Royalties. Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and
for each LICENSED SERVICE(S) provided, by Company, AFFILIATED COMPANIES and SUBLICENSEE(S), based on NET SALES and NET SERVICE REVENUES
for the term of this Agreement. Such payments shall be made quarterly. All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S)
sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU. No multiple royalties
are intended to be paid with respect to the same unit of LICENSED PRODUCT or because the manufacture, use or sale of a LICENSED PRODUCT
is covered by more than one VALID CLAIM under the PATENT RIGHTS.

 

In order to insure JHU the
full royalty payments contemplated hereunder, Company agrees that in the event any LICENSED PRODUCT(S) shall be sold to an AFFILIATED
COMPANY or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement
with respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving
division of profits or special rebates or allowances) without which agreement, understanding or arrangement, prices paid by such corporation,
firm or association for a LICENSED PRODUCT would be higher than the net selling price (per NET SALES) reported by Company, or if such
agreement, understanding or arrangement results in extending to such corporation, firm or association lower prices for LICENSED PRODUCT(S)
than those charged to outside concerns buying similar merchandise in similar amounts and under similar conditions, then, and in any such
event, the royalties to be paid hereunder for such LICENSED PRODUCT(S) shall be based upon the greater of: 1) the net selling price (per
NET SALES) at which the purchaser of LICENSED PRODUCT(S) resells such product to the end user, 2) the NET SERVICE REVENUES received from
using the LICENSED PRODUCT(S) in providing a LICENSED SERVICE, 3) the fair market value of the LICENSED PRODUCT(S) or 4) the net selling
price (per NET SALES) of LICENSED PRODUCT(S) paid by the purchaser.

 

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3.4 Patent
Reimbursement. Company will reimburse JHU, within thirty (30) days of the receipt of an invoice from JHU, for all costs associated
with the preparation, filing, maintenance, and prosecution of PATENT RIGHTS incurred by JHU on or before the EFFECTIVE DATE of this Agreement.
In accordance with Paragraph 4.1 below, Company will reimburse JHU, within thirty (30) days of the receipt of an invoice from JHU, for
all costs associated with the preparation, filing, maintenance, and prosecution of PATENT RIGHTS incurred by JHU subsequent to the EFFECTIVE
DATE of this Agreement.

 

3.5 Form
of Payment. All payments under this Agreement shall be made in U.S. Dollars. Checks are to be made payable to “The Johns Hopkins
University”. Wire transfers may be made through:

 

[***]

 

Company shall be responsible for any and all costs associated
with wire transfers.

 

3.6 Late
Payments. In the event that any payment due hereunder is not made when due, the payment shall accrue interest beginning on the tenth
day following the due date thereof; calculated at the annual rate of the sum of [***], the interest being compounded on the last day of
each calendar quarter, provided however, that in no event shall said annual interest rate exceed the maximum legal interest rate for corporations.
Each such payment when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall
not negate or waive the right of JHU to seek any other remedy, legal or equitable, to which it may be entitled because of the delinquency
of any payment including, but not limited to termination of this Agreement as set forth in Paragraph 9.2.

 

Article
4

PATENT PROSECUTION, MAINTENANCE, & INFRINGEMENT

 

4.1 Prosecution
& Maintenance. JHU, at Company’s expense, shall file, prosecute and maintain all patents and patent applications specified
under PATENT RIGHTS and, subject to the terms and conditions of this Agreement, Company shall be licensed thereunder. Title to all such
patents and patent applications shall reside in JHU. JHU shall have full and complete control over all patent matters in connection therewith
under the PATENT RIGHTS, provided however, that JHU shall (a) cause its patent counsel to timely copy Company on all official actions
and written correspondence with any patent office, and (b) allow Company an opportunity to comment and advise JHU. JHU shall consider
and reasonably incorporate all comments and advice. By concurrent written notification to JHU and its patent counsel at least thirty (30)
days in advance (or later at JHU’s discretion) of any filing or response deadline, or fee due date, Company may elect not to have
a patent application filed in any particular country or not to pay expenses associated with prosecuting or maintaining any patent application
or patent, provided that Company pays for all costs incurred up to JHU’s receipt of such notification. Failure to provide such notification
can be considered by JHU to be Company’s authorization to proceed at Company’s expense. Upon such notification, JHU may file,
prosecute, and/or maintain such patent applications or patent at its own expense and for its own benefit, and any rights granted hereunder
or license granted hereunder held by Company, AFFILIATED COMPANIES or SUBLICENSEE(S) to PATENT RIGHTS which comprise the subject of such
patent applications or patent and/or apply to the particular country, shall terminate. If JHU decides to abandon or allow to lapse any
patent application or patent within the PATENT RIGHTS or discontinue any other patent prosecution activities in respect thereof in any
country, JHU shall inform Company and Company shall be given the opportunity to assume patent prosecution activities in respect thereof
at Company’s expense.

 

4.2 Notification.
Each party will notify the other promptly in writing when any infringement by another is uncovered or suspected.

 

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4.3 Infringement.
Company shall have the first right to enforce any patent within PATENT RIGHTS against any infringement or alleged infringement thereof;
and shall at all times keep JHU informed as to the status thereof Before Company commences an action with respect to any infringement
of such patents, Company shall give careful consideration to the views of JHU and to potential effects on the public interest in making
its decision whether or not to sue. Thereafter, Company may, at its own expense, institute suit against any such infringer or alleged
infringer and control and defend such suit in a manner consistent with the terms and provisions hereof and recover, for its account, any
damages, awards or settlements resulting therefrom, subject to Paragraph 4.5. However, no settlement, consent judgement or other voluntary
final disposition of the suit may be entered into without the prior written consent of JHU, which consent shall not be unreasonably withheld.
This right to sue for infringement shall not be used in an arbitrary or capricious manner. JHU shall reasonably cooperate in any such
litigation at Company’s expense.

 

If Company elects not to enforce
any patent within the PATENT RIGHTS, then it shall so notify JHU in writing within ninety (90) days of receiving notice that an infringement
exists, and JHU may, in its sole judgment and at its own expense, take steps to enforce any patent and control, settle, and defend such
suit in a manner consistent with the terms and provisions hereof; and recover, for its own account, any damages, awards or settlements
resulting therefrom.

 

4.4 Patent
Invalidity Suit. If a declaratory judgement action is brought naming Company as a defendant and alleging invalidity of any of the
PATENT RIGHTS, JHU may elect to take over the sole defense of the action at its own expense. Company shall cooperate fully with JHU in
connection with any such action. In the event that all applicable claims of a patent or patent application included within the PATENT
RIGHTS under which Company is selling or actively developing a LICENSED PRODUCT or LICENSED SERVICE shall be held invalid or not infringed
by the LICENSED PRODUCTS or LICENSED SERVICE that Company is selling or actively developing, by a court of competent jurisdiction in a
given country, whether or not there is a conflicting decision by another court of competent jurisdiction in such country, Company may
cease all royalty payments on its, its AFFILIATES’ or its SUBLICENSEES’ sales of such LICENSED PRODUCT covered by such claims
and, if it does so, shall deposit such royalty payments in an interest-bearing escrow account until such judgment is finally reversed
by an unappealed or unappealable decree of a court of competent jurisdiction of higher dignity in such country or is otherwise unappealable
or is unappealed within the time allowed therefor; provided, however, that if such judgment is finally reversed by an unappealed or unappealable
decree of a court of competent jurisdiction of higher dignity in such country, the former royalty payments shall be resumed and the royalty
payments not theretofore made and interest earned thereon shall become due and payable to JHU.

 

4.5 Recovery.
Any recovery by Company under Paragraph 4.3 shall be deemed to reflect loss of commercial sales, and Company shall pay to JHU [***]. If
the cost and expenses exceed the recovery, then [***] of the excess shall be credited against royalties payable by Company to JHU hereunder
in connection with sales of LICENSED PRODUCT(S) and/or LICENSED SEVICE(S) covered in the PATENT RIGHTS which are the subject of the infringement
suit, in the country of such legal proceedings, provided, however, that any such credit under this Paragraph shall not exceed [***], with
any excess credit being carried forward to future calendar years.

 

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Article
5

OBLIGATIONS OF THE PARTIES

 

5.1 Reports.
Company shall provide to JHU the following written reports according to the following schedules.

 

(a) Company
shall provide quarterly Royalty Reports, substantially in the format of Exhibit B and due within thirty (30) days of the end of each calendar
quarter following the EFFECTIVE DATE of this Agreement. Royalty Reports shall disclose the amount of LICENSED PRODUCT(S) and LICENSED
SERVICE(S) sold, the total NET SALES and NET SERVICE REVENUES of such LICENSED PRODUCT(S) and LICENSED SERVICE(S), any adjustment(s) to
NET SALES and NET SERVICE REVENUES for the purposes of royalty calculation pursuant to Sections 1.8 and 1.9 hereof, respectively, any
adjustments to reported amounts from prior quarters as a result of “true-up” corrections or for other reasons, and the running
royalties due to JHU as a result of NET SALES and NET SERVICE REVENUES by Company, AFFILIATED COMPANIES and SUBLICENSEE(S) thereof. Payment
of any such royalties due shall accompany such Royalty Reports. Company shall use reasonable best efforts to collect information each
quarter from SUBLICENSEES in such detail and accuracy so as to enable determination of the amounts payable to JHU hereunder. In the event
a SUBLICENSEE fails to timely report such information, Company shall include in its report for such quarter a reasonable estimate of NET
SALES and NET SERVICE REVENUES and the basis for such estimate, subject to a “true up” correction in the subsequent quarter.

 

(b) Until
Company, an AFFILIATED COMPANY or a SUBLICENSEE(S) has achieved a first commercial sale of a LICENSED PRODUCT or LICENSED SERVICE, or
received FDA market approval, Company shall provide semiannual Diligence Reports, due within thirty (30) days of the end of every June
and December following the EFFECTIVE DATE of this Agreement. These Diligence Reports shall describe Company’s, AFFILIATED COMPANIES
or any SUBLICENSEE(S)’s technical efforts towards meeting its obligations under the terms of this Agreement.

 

(c) Company
shall provide Annual Reports within thirty (30) days of the end of every December following the EFFECTIVE DATE of this Agreement. Annual
Reports shall include:

 

		(i)	evidence of insurance as required under Paragraph 10.4, or, a statement of why such insurance is not currently
required, and

 

		(ii)	identification of all AFFILIATED COMPANIES which have exercised rights pursuant to Paragraph 2.1, or,
a statement that no AFFILIATED COMPANY has exercised such rights, and

 

		(iii)	notice of all FDA approvals of any LICENSED PRODUCT(S) or LICENSED SERVICE(S) obtained by COMPANY, AFFILIATED
COMPANY or SUBLICENSEE, the patent(s) or patent application(s) licensed under this Agreement upon which such product or service is based,
and the commercial name of such product or service, or, in the alternative, a statement that no FDA approvals have been obtained.

 

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5.2 Records.
Company shall make and retain, for a period of three (3) years following the period of each report required by Paragraph 5.1, true and
accurate records, files and books of account containing all the data reasonably required for the full computation and verification of
sales and other information required in Paragraph 5.1. Such books and records shall be in accordance with generally accepted accounting
principles consistently applied. Company shall permit the inspection and copying of such records, files and books of account by JHU or
its agents during regular business hours upon ten (10) business days’ written notice to Company. Such inspection shall not be made
more than once each calendar year. All costs of such inspection and copying shall be paid by JHU, provided that if any such inspection
shall reveal that an error has been made in the amount equal to five percent (5%) or more of such payment, such costs shall be borne by
Company. As a condition to entering into any such agreement, Company shall include in any agreement with its AFFILIATED COMPANIES or its
SUBLICENSEE(S) which permits such party to make, use, sell or import the LICENSED PRODUCT(S) or provide LICENSED SERVICE(S), a provision
requiring such party to retain records of sales of LICENSED PRODUCT(S) and records of LICENSED SERVICE(S) and other information as required
in Paragraph 5.1 and permit JHU to inspect such records as required by this Paragraph.

 

5.3 Best
Efforts. Company shall exercise reasonable best efforts to develop and to introduce the LICENSED PRODUCT(S) and LICENSED SERVICE(S)
into the commercial market as soon as practicable, consistent with sound and reasonable business practice and judgement; thereafter, until
the expiration or termination of this Agreement, Company shall endeavor to keep LICENSED PRODUCT(S) and LICENSED SERVICE(S) reasonably
available to the public. Company shall also exercise reasonable efforts to develop LICENSED PRODUCT(S) suitable for different indications
within the LICENSED FIELD, so that the PATENT RIGHTS can be commercialized as broadly and as speedily as good scientific and business
judgement would deem possible.

 

5.4 Other
Products. After clinical or other evidence, provided in writing by JHU to Company, demonstrating the practicality of a particular
market or use within the LICENSED FIELD which is not being developed or commercialized by Company, Company shall either provide JHU with
a reasonable development plan and start development or attempt to reasonably sublicense the particular market or use to a third party.
If within six (6) months of such notification by JHU, Company has not initiated such development efforts or sublicensed that particular
market or use, JHU may terminate this license for such particular market or use. This Paragraph shall not be applicable if Company reasonably
demonstrates to JHU that commercializing such LICENSED PRODUCT(S) or LICENSED SERVICE(S) or granting such a sublicense in said market
or use would have a potentially adverse commercial effect upon marketing or sales of the LICENSED PRODUCT(S) or LICENSED SERVICE(S) developed
and being sold by Company.

 

5.5 Patent
Acknowledgement. Company agrees that all packaging containing individual LICENSED PRODUCT(S) sold by Company, AFFILIATED COMPANIES
and SUBLICENSEE(S) of Company will be marked with the number of the applicable patent(s) licensed hereunder in accordance with each country’s
patent laws.

 

Article
6

REPRESENTATIONS

 

6.1 Duties
of the Parties. JHU is not a commercial organization. It is an institute of research and education. Therefore, JHU has no ability
to evaluate the commercial potential of any PATENT RIGHTS or LICENSED PRODUCT or other license or rights granted in this Agreement. It
is therefore incumbent upon Company to evaluate the rights and products in question, to examine the materials and information provided
by JHU, and to determine for itself the validity of any PATENT RIGHTS, its freedom to operate, and the value of any LICENSED PRODUCT(S)
or LICENSED SERVICE(S) or other rights granted.

 

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6.2 Representations
by JHU. JHU warrants that it has good and marketable title to its interest in the inventions claimed under PATENT RIGHTS with the
exception of certain retained rights of the United States Government, which may apply if any part of the JHU research was funded in whole
or in part by the United States government. JHU does not warrant the validity of any patents or that practice under such patents shall
be free of infringement. EXCEPT AS EXPRESSLY SET FORTH IN THIS PARAGRAPH 6.2, COMPANY, AFFILIATED COMPANIES AND SUBLICENSEE(S) AGREE THAT
THE PATENT RIGHTS ARE PROVIDED “AS IS”, AND THAT JHU MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE PERFORMANCE OF
LICENSED PRODUCT(S) AND LICENSED SERVICE(S) INCLUDING THEIR SAFETY, EFFECTIVENESS, OR COMMERCIAL VIABILITY. JHU DISCLAIMS ALL WARRANTIES
WITH REGARD TO PRODUCT(S) AND SERVICE(S) LICENSED UNDER THIS AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES, EXPRESSED OR IMPLIED,
OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, JHU ADDITIONALLY DISCLAIMS
ALL OBLIGATIONS AND LIABILITIES ON THE PART OF JHU AND INVENTORS, FOR DAMAGES, INCLUDING, BUT NOT LIMITED TO, DIRECT, INDIRECT, SPECIAL,
AND CONSEQUENTIAL DAMAGES, ATTORNEYS’ AND EXPERTS’ FEES, AND COURT COSTS (EVEN IF JHU HAS BEEN ADVISED OF THE POSSIBILITY
OF SUCH DAMAGES, FEES OR COSTS), ARISING OUT OF OR IN CONNECTION WITH THE MANUFACTURE, USE, OR SALE OF THE PRODUCT(S) AND SERVICE(S) LICENSED
UNDER THIS AGREEMENT. COMPANY, AFFILIATED COMPANIES AND SUBLICENSEE(S) ASSUME ALL RESPONSIBILITY AND LIABILITY FOR LOSS OR DAMAGE CAUSED
BY A PRODUCT AND/OR SERVICE MANUFACTURED, USED, OR SOLD BY COMPANY, ITS SUBLICENSEE(S) AND AFFILIATED COMPANIES WHICH IS A LICENSED PRODUCT(S)
OR LICENSED SERVICE(S) AS DEFINED IN THIS AGREEMENT.

 

Article
7

INDEMNIFICATION

 

7.1 Indemnification.
JHU and the Inventors will have no legal liability exposure to third parties if JHU does not license the LICENSED PRODUCT(S) and LICENSED
SERVICE(S), and any royalties JHU and the Inventors may receive is not adequate compensation for such legal liability exposure. Therefore,
JHU requires Company to protect JHU and Inventors from such exposure to the same manner and extent to which insurance, if available, would
protect JHU and Inventors. Furthermore, JHU and the Inventors will not, under the provisions of this Agreement or otherwise, have control
over the manner in which Company or its AFFILIATED COMPANIES or its SUBLICENSEE(S) or those operating for its account or third parties
who purchase LICENSED PRODUCT(S) or LICENSED SERVICE(S) from any of the foregoing entities, develop, manufacture, market or practice the
inventions of LICENSED PRODUCT(S) and LICENSED SERVICE(S). Therefore, Company, AFFILIATED COMPANY and SUBLICENSEE shall indemnify, defend
with counsel reasonably acceptable to JHU, and hold JHU, The Johns Hopkins Health Systems, their present and former trustees, officers,
Inventors of PATENT RIGHTS, agents, faculty, employees and students harmless as against any judgments, fees, expenses, or other costs
arising from or incidental to any product liability or other lawsuit, claim, demand or other action brought as a consequence of the practice
of said inventions by any of the foregoing entities, whether or not JHU or said Inventors, either jointly or severally, is named as a
party defendant in any such lawsuit and whether or not JHU or the Inventors are alleged to be negligent or otherwise responsible for any
injuries to persons or property. Practice of the inventions covered by LICENSED PRODUCT(S) and LICENSED SERVICE(S), by an AFFILIATED COMPANY
or an agent or a SUBLICENSEE(S) or a third party on behalf of or for the account of Company or by a third party who purchases LICENSED
PRODUCT(S) and LICENSED SERVICE(S) from Company, shall be considered Company’s practice of said inventions for purposes of this
Paragraph. The obligation of Company to defend and indemnify as set out in this Paragraph shall survive the termination of this Agreement,
shall continue even after assignment of rights and responsibilities to an affiliate or sublicensee, and shall not be limited by any other
limitation of liability elsewhere in this Agreement.

 

    Page 11 of 20

     

    

 

Article
8

CONFIDENTIALITY

 

8.1 Confidentiality.
If necessary, the parties will exchange information, which they consider to be confidential. The recipient of such information agrees
to accept the disclosure of said information which is marked as confidential (the “Confidential Information”) at the time
it is sent to the recipient, and to employ all reasonable efforts to maintain the Confidential Information secret and confidential, such
efforts to be no less than the degree of care employed by the recipient to preserve and safeguard its own confidential information. The
information shall not be disclosed or revealed to anyone except employees of the recipient who have a need to know the information and
who have entered into a secrecy agreement with the recipient under which such employees are required to maintain confidential the Confidential
Information of the recipient and such employees shall be advised by the recipient of the confidential nature of the information and that
the Confidential Information shall be treated accordingly.

 

The obligations of this Paragraph
shall also apply to AFFILIATED COMPANIES and/or SUBLICENSEE(S) provided such Confidential Information by Company. JHU’s, Company’s,
AFFILIATED COMPANIES, and SUBLICENSEES’ obligations under this Paragraph shall extend until three (3) years after the termination
of this Agreement.

 

8.2 Exceptions.
The recipient’s obligations under Paragraph 8.1 shall not extend to any part of the Confidential Information:

 

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

 

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

 

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

 

(d) that
is demonstrated from written records to have been developed by or for the receiving party without reference to Confidential Information
disclosed by the disclosing party; or

 

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

 

8.3 Right
to Publish. JHU may publish manuscripts, abstracts or the like describing the PATENT RIGHTS and inventions contained therein provided
Confidential Information of Company as defined in Paragraph 8.1, is not included or without first obtaining approval from Company to include
such Confidential Information. Otherwise, JHU and the Inventors shall be free to publish manuscripts and abstracts or the like directed
to the work done at JHU related to the licensed technology without prior approval.

 

Article
9

TERM & TERMINATION

 

9.1 Term.
The term of this Agreement shall commence on the EFFECTIVE DATE and shall continue, in each country, until the date of expiration of the
last to expire patent included within PATENT RIGHTS in that country or if no patents issue then for a term of twenty (20) years from the
EFFECTIVE DATE of this Agreement.

 

    Page 12 of 20

     

    

 

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

 

9.3 Termination
by Company. Company may terminate this Agreement and the license granted herein, for any reason, upon giving JHU ninety (90) days
written notice.

 

9.4 Obligations
and Duties upon Termination. If this Agreement is terminated, both parties shall be released from all obligations and duties imposed
or assumed hereunder to the extent so terminated, except as expressly provided to the contrary in this Agreement. Upon termination, both
parties shall cease any further use of the confidential information disclosed to the receiving party by the other party. Termination of
this Agreement, for whatever reason, shall not affect the obligation of either party to make any payments for which it is liable prior
to or upon such termination. Termination shall not affect JHU’s right to recover unpaid royalties, fees, reimbursement for patent
expenses, or other forms of financial compensation incurred prior to termination. Upon termination Company shall submit a final royalty
report to JHU and any royalty payments, fees, unreimbursed patent expenses and other financial compensation due JHU shall become immediately
payable. Furthermore, upon termination of this Agreement, all rights in and to the PATENT RIGHTS shall revert immediately to JHU at no
cost to JHU. Upon termination of this Agreement, any SUBLICENSEE(S) shall become a direct licensee of JHU, provided that JHU’s obligations
to SUBLICENSEE(S) are no greater than JHU’s obligations to Company under this Agreement. Company shall provide written notice of
such to each SUBLICENSEE(S) with a copy of such notice provided to JHU.

 

Article
10

MISCELLANEOUS

 

10.1 Use
of Name. Company, AFFILIATED COMPANIES and SUBLICENSEE(S) shall not use the name of The Johns Hopkins University or The Johns Hopkins
Health System or any of its constituent parts, such as the Johns Hopkins Hospital or any contraction thereof or the name of Inventors
in any advertising, promotional, sales literature or fundraising documents without prior written consent from an authorized representative
of JHU. Company, AFFILIATED COMPANIES and SUBLICENSEE(S) shall allow at least seven (7) business days notice of any proposed public disclosure
for JHU’s review and comment or to provide written consent.

 

10.2 Registration
of License. Company, at its expense, may register the license granted under this Agreement in any country where the use, sale or manufacture
of a LICENSED PRODUCT or LICENSED SERVICE in such country would be covered by a VALID CLAIM of the PATENT RIGHTS. Upon request by Company,
JHU shall agree to promptly execute any “short form” licenses submitted to it by Company in order to effect the foregoing
registration in such country.

 

10.3 No
Partnership. Nothing in this Agreement shall be construed to create any agency, employment, partnership, joint venture or similar
relationship between the parties other than that of a licensor/licensee. Neither party shall have any right or authority whatsoever to
incur any liability or obligation (express or implied) or otherwise act in any manner in the name or on the behalf of the other, or to
make any promise, warranty or representation binding on the other.

 

    Page 13 of 20

     

    

 

10.4 Notice
of Claim. Each party shall give the other or its representative immediate notice of any suit or action filed, or prompt notice of
any claim made, against them arising out of the performance of this Agreement or arising out of the practice of the inventions licensed
hereunder.

 

10.5 Product
Liability. Prior to initial human testing or first commercial sale of any LICENSED PRODUCT(S) or LICENSED SERVICE(S) as the case may
be in any particular country, Company shall establish and maintain, in each country in which Company, an AFFILIATED COMPANY or SUBLICENSEE(S)
shall test or sell LICENSED PRODUCT(S) and LICENSED SERVICE(S), product liability or other appropriate insurance coverage in the minimum
amount of [***] per claim and will annually present evidence to JHU that such coverage is being maintained. Upon JHU’s request,
Company will furnish JHU with a Certificate of Insurance of each product liability insurance policy obtained. JHU shall be listed as an
additional insured in Company’s said insurance policies. If such Product Liability insurance is underwritten on a ‘claims
made’ basis, Company agrees that any change in underwriters during the term of this Agreement will require the purchase of ‘prior
acts’ coverage to ensure that coverage will be continuous throughout the term of this Agreement.

 

10.6 Governing
Law. This Agreement shall be construed, and legal relations between the parties hereto shall be determined, in accordance with the
laws of the State of Maryland applicable to contracts solely executed and wholly to be performed within the State of Maryland without
giving effect to the principles of conflicts of laws. Any disputes between the parties to the Agreement shall be brought in the state
or federal courts of Maryland. Both parties agree to waive their right to a jury trial.

 

10.7 Notice.
All notices or communication required or permitted to be given by either party hereunder shall be deemed sufficiently given if mailed
by registered mail or certified mail, return receipt requested, or sent by overnight courier, such as Federal Express, to the other party
at its respective address set forth below or to such other address as one party shall give notice of to the other from time to time hereunder.
Mailed notices shall be deemed to be received on the third business day following the date of mailing. Notices sent by overnight courier
shall he deemed received the following business day.

 

		If to Company:	Attn: Herman Spolders BVBA, CEO
 OncoMethylome Sciences
SA
 Niveau +2, Tour 4 de Pharmacie (batiment 36)
 Ulg CHU, Av. de l’Hopital no. 1
 4000 Sart-Tilman (Liege)
 Belgium

 

		With a copy to:	OncoMethylome Sciences SA

2505 Meridian Parkway, Suite 310

Durham, NC 27713

Attn.: Legal Dept.

 

		If to JHU:	Licensing and Technology Development

Johns Hopkins University

100 N. Charles Street

5th Floor

Baltimore, MD 21201

Attn.: Director

 

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

 

    Page 14 of 20

     

    

 

10.9 Successors
and Assigns. Neither this Agreement nor any of the rights or obligations created herein, except for the right to receive any remuneration
hereunder, may be assigned by either party, in whole or in part, without the prior written consent of the other party, which approval
shall not be unreasonably withheld; provided, however that either party shall be free to assign this Agreement in connection with any
sale of substantially all of its assets without the consent of the other. . This Agreement shall bind and inure to the benefit of the
successors and permitted assigns of the parties hereto.

 

10.10 No
Waivers; Severability. No waiver of any breach of this Agreement shall constitute a waiver of any other breach of the same or other
provision of this Agreement, and no waiver shall be effective unless made in writing. Any provision hereof prohibited by or unenforceable
under any applicable law of any jurisdiction shall as to such jurisdiction be deemed ineffective and deleted herefrom without affecting
any other provision of this Agreement. It is the desire of the parties hereto that this Agreement be enforced to the maximum extent permitted
by law, and should any provision contained herein be held by any governmental agency or court of competent jurisdiction to be void, illegal
and unenforceable, the parties shall negotiate in good faith for a substitute term or provision which carries out the original intent
of the parties.

 

10.11 Entire
Agreement; Amendment. Company and JHU acknowledge that they have read this entire Agreement and that this Agreement, including the
attached Exhibits constitutes the entire understanding and contract between the parties hereto and supersedes any and all prior or contemporaneous
oral or written communications with respect to the subject matter hereof, all of which communications are merged herein. It is expressly
understood and agreed that (i) there being no expectations to the contrary between the parties hereto, no usage of trade, verbal agreement
or another regular practice or method dealing within any industry or between the parties hereto shall be used to modify, interpret, supplement
or alter in any manner the express terms of this Agreement; and (ii) this Agreement shall not be modified, amended or in any way altered
except by an instrument in writing signed by both of the parties hereto.

 

10.12 Delays
or Omissions. Except as expressly provided herein, no delay or omission to exercise any right, power or remedy accruing to any party
hereto, shall impair any such right, power or remedy to such party nor shall it be construed to be a waiver of any such breach or default,
or an acquiescence therein, or in any similar breach or default be deemed a waiver of any other breach or default theretofore or thereafter
occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this
Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective
only to the extent specifically set forth in such writing. All remedies either under this Agreement or by law or otherwise afforded to
any party, shall be cumulative and not alternative.

 

10.13 Force
Majeure. If either party fails to fulfill its obligations hereunder (other than an obligation for the payment of money), when such
failure is due to an act of God, or other circumstances beyond its reasonable control, including but not limited to fire, flood, civil
commotion, riot, war (declared and undeclared), revolution, or embargoes, then said failure shall be excused for the duration of such
event and for such a time thereafter as is reasonable to enable the parties to resume performance under this Agreement, provided however,
that in no event shall such time extend for a period of more than one hundred eighty (180) days.

 

10.14 Further
Assurances. Each party shall, at any time, and from time to time, prior to or after the EFFECTIVE DATE of this Agreement, at reasonable
request of the other party, execute and deliver to the other such instruments and documents and shall take such actions as may be required
to more effectively carry out the terms of this Agreement.

 

    Page 15 of 20

     

    

 

10.15 Survival.
All representations, warranties, covenants and agreements made herein and which by their express terms or by implication are to be performed
after the execution and/or termination hereof, or are prospective in nature, shall survive such execution and/or termination, as the case
may be. This shall include Paragraphs 3.6 (Late Payments), 5.2 (Records), and Articles 6, 7, 8, 9, and 10.

 

10.16 No
Third Party Beneficiaries. Nothing in this Agreement shall be construed as giving any person, firm, corporation or other entity, other
than the parties hereto and their successors and permitted assigns, any right, remedy or claim under or in respect of this Agreement or
any provision hereof

 

10.17 Headings.
Article headings are for convenient reference and not a part of this Agreement. All Exhibits are incorporated herein by this reference.

 

10.18 Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which when taken together shall be
deemed but one instrument.

 

IN WITNESS WHEREOF, this Amended
and Restated License Agreement shall take effect as of the EFFECTIVE DATE when it has been executed below by the duly authorized representatives
of the parties.

 

    Page 16 of 20

     

    

 

	THE JOHNS HOPKINS UNIVERSITY	 	ONCOMETHYLOME SCIENCES SA
	 	 	 
	 	 	By:	Herman H. Spolders BVBA
	 	 	 	Chief Executive Officer
	 	 	 
	/s/ R. Keith Baker	 	/s/ Herman H. Spolders
	R. Keith Baker, MBA, Ph.D. 	 	Drs. Herman H. Spolders, 
	Director	 	Managing Director
	Licensing and Technology Development	 	 
	 	 	 
	08/31/2004	 	08/31/2004
	(Date)	 	(Date)

 

Acknowledged by

 

	/s/ Dr. David Sidransky	 
	Dr. David Sidransky	 
	 	 
	08/25/2004	 
	(Date)	 

 

EXHIBIT A. LICENSE FEE & ROYALITIES.

EXHIBIT B. SALES & ROYALTY REPORT FORM.

EXHIBIT C. NET SALES CALCULATION EXAMPLE

 

    Page 17 of 20

     

    

 

EXHIBIT A

 

LICENSE FEE & ROYALTIES

 

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

 

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

 

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

 

		[***]	

 

    Page 18 of 20

     

    

 

EXHIBIT B

 

QUARTERLY SALES & ROYALTY REPORT

 

FOR LICENSE AGREEMENT BETWEEN Company AND

 

THE JOHNS HOPKINS UNIVERSITY DATED

 

[EFFECTIVE DATE OF AGREEMENT]

 

FOR PERIOD OF ______________ TO _________________

 

TOTAL ROYALTIES DUE FOR THIS PERIOD $_______________

 

	PRODUCT 

ID	PRODUCT NAME	*JHU 

REFERENCE	1st COMMERCIAL 

SALE DATE	TOTAL NET 

SALES/SERVICES	ROYALTY 

RATE	AMOUNT 

DUE
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

* Please provide the JHU Disclosure Number or Patent
Reference

 

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

 

    Page 19 of 20

     

    

 

EXHIBIT C

 

NET SALES CALCULATION EXAMPLE

 

By way of example only, and without amending or otherwise limiting
the terms of the agreement, if COMPANY were to realize commercial sales of $100,000 for the applicable quarter with respect to a Panel
that includes four assays with the following characteristics:

 

		Assay A:	Includes the LICENSED PRODUCT and one Other Component;

		Assay B:	Includes only the LICENSED PRODUCT;

		Assay C:	Includes only the LICENSED PRODUCT, but requires intellectual
property of a third party in order to obtain freedom to operate; and

		Assay D:	Does not include any LICENSED PRODUCT;

 

then the royalty calculation for the Panel (for that quarter) would
be as follows:

 

[***]

 

 

Page 20 of 20

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