Document:

EX-10.2

 Exhibit 10.2 

EMPLOYMENT AGREEMENT 
 This
EMPLOYMENT AGREEMENT (“Agreement”) is entered into as of this 4th day of April, 2016 (the “Effective Date”), by and between Sagent Pharmaceuticals, Inc., a Delaware corporation
(the “Employer” or the “Company”), and Sean Brynjelsen, an individual (the “Executive”). 
 WHEREAS, Company
desires to employ Executive and to set forth certain terms and conditions of Executive’s employment, and Executive desires to be employed by Company on the terms and conditions set forth in this Agreement; and 

WHEREAS, during the course of employment, Executive will learn confidential information regarding Company’s customers and/or Strategic
Partners, and/or will establish, maintain, and improve knowledge of or relationships or goodwill with Company’s customers, Strategic Partners, and/or will learn Company’s Trade Secrets or Confidential Information (as such terms are defined
below); and 
 WHEREAS, Company’s Confidential Information, Trade Secrets, customer relationships, and Strategic Partners have been
developed by Company at considerable expense over a number of years; and 
 WHEREAS, but for Executive’s employment at Company,
Executive would not know the Trade Secrets and Confidential Information, and Executive would not be able to create, improve, and maintain relationships with Company’s customers, Strategic Partners; and 

WHEREAS, Company’s customer relationships, Strategic Partners, Trade Secrets, and Confidential Information are of considerable economic
value to Company; and 
 WHEREAS, Company would not employ Executive if Executive did not accept the terms outlined herein; and 

WHEREAS, EXECUTIVE HAS REVIEWED THE MATTERS RECITED IN THE PARAGRAPHS ABOVE AND CONFIRMS THAT S/HE AGREES WITH THOSE RECITALS. 

NOW, THEREFORE, in consideration of the foregoing recitals and of the promises and covenants set forth herein, and in exchange for a one-time
payment of one thousand dollars ($1,000.00), which shall be paid upon execution of this Agreement; Executive’s access to Company’s customer relationships, Strategic Partners, good will, Confidential Information, or Trade Secrets;
Executive’s employment with Company; Executive’s training; Executive’s receipt of valuable information as a result of Executive’s employment with Company; and for other good and valuable consideration, the sufficiency of which
are hereby acknowledged, the Parties agree as follows: 

  
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 1. Employment Agreement. On the terms and conditions set forth in this Agreement, the
Employer agrees to employ the Executive and the Executive agrees to be employed by the Employer for the Employment Period set forth in Section 2 and in the positions and with the duties set forth in Section 3. 

2. Term. The initial term of employment under this Agreement shall be for a three (3) year period commencing on the Effective Date
(the “Initial Term”). The term of employment shall be automatically extended for an additional consecutive 12-month period (the “Extended Term”) on the third anniversary of the Effective Date and each subsequent anniversary
thereof, unless and until the Employer or Executive provides written notice to the other party in accordance with the Notice provisions provided for below, not less than sixty (60) days before such anniversary date that such party is electing
not to extend the term of employment under this Agreement (“Non- Renewal”), in which case the term of employment shall end as of the end of such Initial Term or Extended Term, unless terminated earlier in accordance with the terms below.
Such Initial Term and all such Extended Terms are collectively referred to herein as the “Employment Period.” Anything herein to the contrary notwithstanding, if on the date of a Change in Control the remaining term of the Employment
Period is less than 24 months, the Employment Period shall be automatically extended to the end of the 24-month period following such Change in Control, as that term is defined in Section 10 of this Agreement. 

3. Position and Duties. During the Employment Period, the Executive shall serve as Executive Vice President, Business Development. In
such capacity, the Executive shall report to the Chief Executive Officer and shall have the duties, responsibilities and authorities customarily associated with such position(s) in a company the size and nature of the Employer. The Executive shall
devote the Executive’s reasonable best efforts and full business time to the performance of the Executive’s duties hereunder and the advancement of the business and affairs of the Employer. 

4. Other Employment. Except in the instances where Executive acts as a trustee for estate planning purposes and for the
Executive’s personal investment purposes, Executive may not be an employee, consultant, director or other agent of any other person, firm or corporation without the prior written approval of the Chief Executive Officer of the Company. 

5. Place of Performance. During the Employment Period, the Executive shall be based primarily at the Employer’s headquarters in
Schaumburg, Illinois, except for reasonable travel on the Employer’s business consistent with the Executive’s position. 
 6.
Compensation and Benefits; Options. 
 (a) Base Salary. During the Employment Period, the Employer shall pay to the Executive
a base salary (the “Base Salary”) at the rate of $315,000 per calendar year, less applicable deductions, and prorated for any partial year. The Base Salary shall be reviewed by the Employer annually and shall be modified in the discretion
of the Employer and any such adjusted Base Salary shall constitute the “Base Salary” for purposes of this Agreement. The Base Salary shall be paid in substantially equal installments in accordance with the Employer’s regular payroll
procedures. 

  
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 (b) Annual Bonus. For each calendar year ending during the Employment Period, the
Executive shall be eligible to be considered for an annual cash performance bonus (an “Annual Bonus”). The performance criteria for any particular calendar year shall be determined in good faith by the Company, after consultation with the
Employer’s Chief Executive Officer. The Executive is eligible for an annual bonus of up to 40% of the Executive’s Base Salary (the “Target Bonus”). The Executive’s Annual Bonus shall be determined by the Company in
accordance with this Section 6(b). To the extent earned, Executive’s Annual Bonus shall be paid to the Executive when annual bonuses for that year are paid to other senior executives of the Employer generally, but in no event later than
March 15 of the year following the year to which such Annual Bonus relates. In carrying out its functions under this Section 6(b), the Company shall at all times act uniformly, reasonably and in good faith. 

(c) Initial Equity Grant; Annual Equity Grant. The Executive shall receive a sign-on equity award (the “Initial
Grant”) with a grant date fair value of $240,000, 50% of which will be granted in the form of stock options (such options, the “Options”) and 50% in the form of restricted stock units; provided that such award will be
subject to forfeiture in the event the Executive does not commence employment with the Employer on the Effective Date for any reason whatsoever. The Options will have a per share exercise price equal to the fair market value of a share of common
stock on the date of grant. Following the Initial Grant, the Executive will be eligible to receive annual grants of equity-based awards on the same basis and terms and conditions as other senior executives. It is anticipated that any such awards
will be comprised of 50% options and 50% restricted stock units. The Executive’s entitlement to any equity grants remains subject to approval by the Compensation Committee of the Board, in its sole discretion. All equity grants will vest
ratably over the four year period, at 25% each year, commencing with the date of grant. 
 (d) Vacation, Paid Time Off (“PTO”);
Benefits. During the Employment Period, the Executive shall be entitled to twenty-four (24) PTO days annually, accrued bi-weekly at the rate of 7.38 hours, in accordance with the Employer’s policies then in effect. The PTO accrual
shall begin on the Effective Date. In addition, the Employer shall provide to the Executive employee benefits and perquisites, including, but not limited to, Company holidays, medical, dental, and disability insurance, and a 401(k) plan, on a basis
that is comparable in all material respects to that provided to other executives of the Employer. Subject to the terms of this Agreement, the Employer shall have the right to change insurance carriers and to adopt, amend, terminate or modify
employee benefit plans and arrangements at any time and without the consent of the Executive. 
 7. Expenses. The Executive is
authorized to incur reasonable, ordinary and necessary expenses in the performance of Executive’s duties hereunder. The Employer will promptly reimburse the Executive for all expenses reasonably, necessarily and actually incurred, as determined
by the Company, in accordance with policies which may be adopted from time to time by the Company. To receive reimbursement, the Executive shall present to the Company an itemized account, including reasonable substantiation, of such expenses. 

8. Confidentiality, Non-Disclosure, Non-Competition Agreement and Duty of Loyalty. 

(a) When used in this Agreement the following terms have the definition set forth below: 

  
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 (i) “Competing Product” means any product, creative solution, or service which
is sold or provided in competition with a product, creative solution, or service: that Executive sold or provided on behalf of Company at some time during the twelve (12) months immediately preceding the point when Executive is no longer
employed by Company, or by any parent, subsidiary, or related entity of Company (such point being the “Ter mination of Ex ecutive’s Employment”); that one or more Company employees or business units managed, supervised, or
directed by Executive sold or provided on behalf of Company at some time during the twelve (12) months immediately preceding the Termination of Executive’s Employment; that was designed, developed, tested, distributed, marketed, provided,
or produced by Executive (individually or in collaboration with other Company employees) or one or more Company employees or business units managed, supervised, or directed by Executive at some time during the twelve (12) months immediately
preceding the Termination of Executive’s Employment; or that was designed, tested, developed, distributed, marketed, produced, sold, or provided by Company with management or executive support from Executive at some time during the twelve
(12) months immediately preceding the Termination of Executive’s Employment. The term Competing Product shall not apply to any product, creative solution, or service which Executive sold or provided prior to his employment with the Company
unless such product, creative solution, or service defined as “Competing Product” in this Paragraph 8(a)(i) resulted in corroborated or documented discussions, during Executive’s employment with the Company, involving offers,
proposals and other commercial arrangements as evidenced by email, letters of intent, memoranda, term sheets, or verbal and executed agreements. 

(ii) “Confidential Information” means information (to the extent it is not a Trade Secret), whether oral, written, recorded
magnetically or electronically, or otherwise stored, and whether originated by Executive or otherwise coming into the possession or knowledge of Executive, which is possessed by or developed for Company, and which relates to Company’s existing
or potential business, which information is not reasonably ascertainable by Company’s competitors or by the general public through lawful means, and which information Company treats as confidential, including but not limited to information
regarding Company’s business affairs, plans, strategies, products, creative solutions, designs, finances, computer programs, research, customers, purchasing, marketing, and other information. The term Confidential Information shall not apply to
any information known to Executive prior to his employment with the Company unless such information is covered by the definition of “Confidential Information” in this Paragraph 8(a)(ii). 

(iii) “Restricted Customer” means a customer of Company to which Executive, or one or more individuals or Company business
units supervised, managed, or directed by Executive, sold or provided products, creative solutions, or services on behalf of Company during the twelve (12) month period immediately preceding the Termination of Executive’s Employment.
However, the term Restricted Customer shall not apply to any persons or entities that Executive either (1) supervised, managed, or directed or (2) sold or provided products, creative solutions or services to in the time period pre-existing
Executive’s employment with Company. 
 (iv) “Strategic Partner” means any entity or person that supplies to the
Company goods or services related to the Company’s products, or manufactures for the Company goods related to the Company’s products, or manufactures the Company’s products, or Group 

  
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Purchasing Organizations (GPOs), with which Executive, or one or more individuals or Company business units supervised, managed, or directed by Executive, did business on behalf of Company during
the twelve (12) month period immediately preceding the Termination of Executive’s Employment. However, the term Strategic Partner shall not apply to any persons or entities that Executive supervised, managed, or directed in the time period
pre-existing Executive’s employment with Company. 
 (v) “Services” means sales, financial, supervisory, management,
engineering, scientific, and other services of the type performed for Company by Executive or one or more Company employees managed, supervised, or directed by Executive during the final twelve (12) months preceding the Termination of
Executive’s Employment, but shall not include clerical, menial, or manual labor. 
 (vi) “Strategic Customer” means a
customer of Company that purchased a product, creative solution, or service from Company during the twelve (12) month period immediately preceding the Termination of Executive’s Employment, but is limited to individuals and entities
concerning which Executive learned, created, or reviewed Confidential Information or Trade Secrets on behalf of Company during the twelve (12) month period immediately preceding the Termination of Executive’s Employment. However, the term
Strategic Customer shall not apply to any persons or entities that Executive either (1) supervised, managed, or directed, or (2) sold or provided products, creative solutions to in the time period pre-existing Executive’s employment
with Company. 
 (vii) “Third Party Confidential Information” means information received by Company from others that
Company has an obligation to treat as confidential. 
 (viii) “Trade Secret” means a Trade Secret as that term is defined
under the Uniform Trade Secrets Act, as amended or judicially construed from time to time. 
 (ix) “Territory” means a
county within the United States of America, the District of Columbia, a territory of the United States of America, and/or a foreign nation. 

(x) “Key Employee” means any person who at the Termination of Executive’s Employment is employed or engaged by Company
and with whom Executive has had material contact in the course of employment during the twelve (12) months immediately preceding the Termination of Executive’s Employment, and (i) is a manager, officer, or director of Company and/or
(ii) is in possession of Confidential Information and/or Trade Secrets of Company and/or (iii) is directly managed by or reports to Executive as of the end of Executive’s employment with Company. 

(xi) “Restricted Territory” means: Territories (as the term “Territor y” is defined below) in which
Executive or one or more Company employees or business units managed, assisted or directed by Executive provided products, creative solutions, or services on behalf of Company during the twelve (12) month period immediately preceding the
Termination of Executive’s Employment; Territories in which one or more Company employees or business units managed or directed by Executive sold or solicited the sale of products, creative 

  
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solutions, or services on behalf of Company during the twelve (12) month period immediately preceding the Termination of Executive’s Employment; Territories in which Executive or one or
more Company employees or business units managed or directed by Executive or receiving management or executive support from Executive provided, sold, or solicited the sale of products, creative solutions, or services on behalf of Company during the
twelve (12) month period immediately preceding the Termination of Executive’s Employment; and Territories in which Company sold or provided products, creative solutions, or services designed, developed, tested, or produced by Executive
(either individually or in collaboration with other Company employees) or by Company employees or business units working under Executive’s direction, management, or control during the twelve (12) month period immediately preceding the
Termination of Executive’s Employment. Notwithstanding the foregoing, the term Restricted Territory is limited to Territories in which Company sold or provided in excess of one hundred thousand dollars (US$100,000) in the aggregate worth of
products, creative solutions, or services in the twelve (12) month period immediately preceding the Termination of Executive’s Employment. 

(b) Nondisclosure of Third Party Confidential Information. During Executive’s employment with Company and after Termination of
Executive’s Employment, Executive shall not use or disclose Third Party Confidential Information for as long as the relevant third party has required Company to maintain its confidentiality, or for so long as required by applicable law,
whichever period is longer. This prohibition does not prohibit Executive’s use of general skills and know-how acquired during and prior to employment by Company, as long as such use does not involve the use or disclosure of Third Party
Confidential Information. This prohibition also does not prohibit the description by Executive of Executive’s employment history and duties, for work search or other purposes, as long as such use does not involve the use or disclosure of Third
Party Confidential Information. 
 (c) Non-disclosure of Trade Secrets. During employment and after Termination of Executive’s
Employment, Executive shall not use or disclose Company’s Trade Secrets so long as they remain Trade Secrets. Nothing in this Agreement shall limit either Executive’s statutory and other duties not to use or disclose Company’s Trade
Secrets, or Company’s remedies in the event Executive uses or discloses Company’s Trade Secrets. 
 (d) Obligations Not to
Disclose or Use Confidential Information . Except as set forth herein or as expressly authorized in writing on behalf of Company, Executive agrees that while Executive is employed by Company and during the one (1) year period commencing at
the Termination of Executive’s Employment, Executive will not use or disclose (except in discharging Executive’s job duties with Company) any Confidential Information, whether such Confidential Information is in Executive’s memory or
it is set forth electronically, in writing or other form. This prohibition does not prohibit Executive’s disclosure of information after it ceases to meet the definition of “Confidential Information,” or Executive’s use of
general skills and know-how acquired during and prior to employment by Company, so long as such use does not involve the use or disclosure of Confidential Information; nor does this prohibition restrict Executive from providing prospective employers
with an employment history or description of Executive’s duties with Company, so long as Executive does not use or disclose Confidential Information. Notwithstanding the foregoing, if Executive learns information in the course of employment
with Company which is subject to a law governing confidentiality or non-

  
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disclosure, Executive shall keep such information confidential for so long as required by law, or for two (2) years, whichever period is longer. However, this Paragraph shall not preclude
employees within the meaning of the National Labor Relations Act from exercising Section 7 rights they might have to communicate about working conditions. 

(e) Return of Property; No Cop yin g or Transfer of Documents . All equipment, books, records, papers, notes, catalogs, compilations of
information, data bases, correspondence, recordings, stored data (including data or files that exist on any personal computer or other electronic storage device), software, and any physical items, including copies and duplicates, that Executive
generates or develops or which come into Executive’s possession or control, which relate directly or indirectly to, or are a part of Company’s (or its customers’) business matters, whether of a public nature or not, shall be and
remain the property of Company, and Executive shall deliver all such materials and items, and any and all copies of them, to Company upon termination of employment. During employment or after Termination of Executive’s Employment, Executive
will not copy, duplicate, or otherwise reproduce, or permit copying, duplicating, or reproduction of Company documents or writings, whether stored on paper, magnetic tape, CD, electronically, or otherwise, including but not limited to notes,
notebooks, letters, blueprints, manuals, drawings, sketches, specifications, formulas, financial documents, business plans, and the like, or any other documentation owned or originated by Company and relating to Company’s business which, from
time to time, may have come into Executive’s possession, custody, or control as a result of, or in the course of, Executive’s employment with Company, without the express written consent of Company, or, as a part of Executive’s duties
performed hereunder for the benefit of Company. Executive expressly covenants and warrants, upon termination of employment for any reason (or no reason), that Executive shall promptly deliver to Company any and all originals and copies in
Executive’s possession, custody, or control of any and all said property, documents, or writings, and that Executive shall not make, retain, or transfer to any third party any copies thereof. In the event any Confidential Information or Trade
Secrets are stored or otherwise kept in or on a computer hard drive or other storage device owned by or otherwise in the possession or control of Executive (each individually an “Executive Storage Device”), upon termination of employment
Executive will present every such Executive Storage Device to Company, and certify that all Executive Storage Device(s) have been provided, for inspection and removal of all information regarding Company (including but not limited to Confidential
Information or Trade Secrets) that is stored on Executive Storage Device. 
 (f) Duty of Loyalty. During Executive’s employment
with Company, Executive shall owe such Company an undivided duty of loyalty, and shall take no action adverse to that duty of loyalty. Executive’s duty of loyalty to Company includes but is not limited to a duty to promptly disclose to Company
any information that might cause Company to take or refrain from taking any action, or which otherwise might cause Company to alter its behavior. Without limiting the generality of the foregoing, Executive shall promptly notify Company at any time
that Executive decides to terminate employment with Company or enter into competition with Company, as Company may decide at such time to limit, suspend, or terminate Executive’s employment or access to one or more of Company’s
Confidential Information, Trade Secrets, or customer relationships. 
 (g) Limited Restriction on Misuse of Goodwill Related To a
Restricted Customer. For one (1) year following the Termination of Executive’s Employment, for whatever reason, Executive shall not sell or solicit the sale of a Competing Product to a Restricted Customer. 

  
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 (h) Limited Restriction on Assisting Misuse of Goodwill Related To a Restricted Customer.
For one (1) year following the Termination of Executive’s Employment, for whatever reason, Executive shall not perform Services as part of or in support of providing, selling, or soliciting the sale of a Competing Product to a Restricted
Customer. 
 (i) Limited Restriction on Misuse of Information Related To a Strategic Customer. For one (1) year following
Termination of Executive’s Employment, for whatever reason, Executive shall not sell or solicit the sale of a Competing Product to a Strategic Customer. 

(j) Limited Restriction on Assisting Misuse of Information Related To a Strategic Customer. For one (1) year following Termination
of Executive’s Employment, for whatever reason, Executive shall not perform Services as part of or in support of providing, selling or soliciting the sale of a Competing Product to a Strategic Customer. 

(k) Limited Restriction on Misuse of Goodwill Related To a Strategic Partner. For one (1) year following the Termination of
Executive’s Employment, for whatever reason, Executive shall not solicit the supply of goods or services to manufacture a Competing Product or the manufacturing of a Competing Product from a Strategic Partner. 

(l) Limited Restriction on Assisting Misuse of Goodwill Related To a Strategic Partner. For one (1) year following the
Termination of Executive’s Employment, for whatever reason, Executive shall not perform Services as part of or in support of soliciting the supply of goods or services to manufacture a Competing Product or the manufacturing of a Competing
Product from a Strategic Partner. 
 (m) Limited Territorial Restriction. For one (1) year following Termination of
Executive’s Employment, for whatever reason, Executive shall not perform Services as part of or in support of the business of selling, soliciting the sale of, or providing Competing Products in the Restricted Territory. 

(n) Non-solicitation of Key Employees . For one (1) year following the Termination of Executive’s Employment, for whatever
reason, Executive shall not, without the prior written consent of Company, solicit a Key Employee to engage in competition with Company, unless such Key Employee has already ceased employment with Company. This shall not bar any employee of Company
from applying for or accepting employment with any person or entity. 
 (o) Ownership of Creations. All records, documents, papers,
inventions and notebooks, drawings, designs, technical information, source code, object code, processes, methods or other copyrightable or otherwise protected works (“IP Assets”), in whatever media, that Executive has conceived, created,
made, invented, or discovered relating to any work Executive performs or has performed or on behalf of Company or that arise from the use of, or 

  
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assistance of, any of its or their premises, facilities, materials, employees, officers, directors, agents, advisors, or representatives, or any of their Confidential Information (whether or not
during usual working hours), whether conceived, created, discovered, made, or invented individually or jointly with others, will, together with all the worldwide patent, copyright, trade secret, or other intellectual property rights in all such
works, be and remain the absolute property of Company. Executive irrevocably and unconditionally waives all rights that may otherwise vest in his authorship (or after the date of this Agreement) in connection with his authorship of any such
copyrightable works, wherever in the world enforceable. Without limitation, Executive waives the right to be identified as the author of any such works and the right not to have any such works subjected to derogatory treatment. Executive recognizes
any such works are “works for hire” of which Company is the author. 
 (p) Disclosure of Creations. Executive will promptly
disclose, grant and assign ownership to Company as directed by Company, for its sole use and benefit, any and all ideas, processes, inventions, discoveries, improvements, technical information, and copyrightable works (whether patentable or not)
that Executive has developed, acquired, conceived or reduced to practice (whether or not during usual working hours) while employed by Company to which Company has any right or interest. In connection therewith: (i) Executive will, without
charge but at Company’s expense, promptly execute and deliver such applications, assignments, descriptions and other instruments as Company may reasonably consider necessary or proper to vest title to any such inventions, discoveries,
improvements, technical information, patent applications, patents, copyrightable work or reissues thereof in Company and to enable it to obtain and maintain the entire worldwide right and title thereto; and (ii) Executive will provide to
Company at Company’s expense all such assistance as Company may reasonably require in the prosecution of applications for such patents, copyrights or reissues thereof, in the prosecution or defense of interferences that may be declared
involving any such applications, patents or copyrights and in any litigation in which Company may be involved relating to any such patents, inventions, discoveries, improvements, technical information or copyrightable works or reissues thereof. 

(q) Personal Creations. Notwithstanding the foregoing, Sections 8(m) and 8(n) shall not apply to any IP Asset for which no equipment,
supplies, premises, facility, Confidential Information, employee, officer, director, agent, advisor or representative of Company (including any of its predecessors or successors) was used and that was developed entirely on Executive’s own time
unless (a) the IP Asset relates (i) directly to the business of Company, to which Company has a right or interest, or (ii) to any actual or anticipated research or development of Company, to which Company has a right or interest, or
(b) the IP Asset results from any work Executive performed as an employee of Company. 
 (r) Publicity. During Executive’s
employment with Company, Executive hereby grants to Company the right to use, in a reasonable and appropriate manner, Executive’s name and likeness, without additional consideration, on, in and in connection with technical, marketing or
disclosure materials, or any combination thereof, published by or for Company. 
 (s) Enforcement. Executive acknowledges that in the
event of any breach of this Section 8, the business interests of Company will be irreparably injured, the full extent of the damages to Company will be impossible to ascertain, monetary damages will not be an adequate

  
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remedy for Company, and Company will be entitled to enforce this Agreement by a temporary, preliminary and/or permanent injunction or other equitable relief, without the necessity of posting bond
or security, which Executive expressly waives. Executive understands that Company may waive some of the requirements expressed in this Agreement, but that such a waiver to be effective must be made in writing and should not in any way be deemed a
waiver of Company’s right to enforce any other requirements or provisions of this Agreement. Executive agrees that each of Executive’s obligations specified in this Agreement is a separate and independent covenant and that the
unenforceability of any of them shall not preclude the enforcement of any other covenants in this Agreement. Executive further agrees that any breach of this Agreement by Company prior to the Date of Termination shall not release Executive from
compliance with Executive’s obligations under this Section 8. Notwithstanding the foregoing sentence, neither party shall be precluded from pursuing judicial remedies as a result of any such breaches. 

9. Termination of Employment. This Agreement may be terminated upon occurrence of any one of the following events: 

(a) Voluntary. The Executive may terminate this Agreement at any time during the term of this Agreement by giving sixty (60) days
written notice of termination to the Employer. In the event of the termination of this Agreement by the Executive, the Executive shall not receive any severance pay. In the event of termination of this Agreement by the Executive, the Employer shall
have the right to immediately remove Executive from Executive’s position. In either case, the Executive shall receive his compensation through the sixty (60) day notice period. By agreement of the Executive and the Company, the Company may
continue to employ the Executive for a period longer than sixty (60) days after the Executive gives notice of Executive’s voluntary resignation. Such an agreement much be in writing and executed by both parties. 

(b) Involuntary With Cause. The Company may, upon written notice effective immediately, terminate this Agreement With Cause at any time
during the term of this Agreement if any one of the following conditions outlined below exist. For purposes of this Agreement, the conditions outlined below constitute “Cause.” 

(i) If the Executive becomes Disabled. For purposes of this Agreement, “Disabled” shall mean the inability to perform essential job
functions with or without a reasonable accommodation, for a period of ninety (90) days or more;. 
 (ii) If the Executive (for reasons
other than illness or injury) is absent from Executives duties without the consent of the Company for more than three (3) consecutive days; 

(iii) If the Executive dies (effective on the date of death); 

(iv) If the Executive should be convicted of a crime punishable by imprisonment; 

(v) If the Executive should willfully breach or habitually neglect the duties required to perform under this Agreement; 

  
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 (vi) If the Executive has committed, undertaken or otherwise been involved in dishonest conduct
in relation to the Company (and “dishonest conduct” is deemed to include, but is not limited to, the theft, embezzlement or other misappropriation of all or any material or significant part of the funds, assets or property (tangible or
intangible) of the Company); 
 (vii) If the Executive violates any Company policy or fails to meet the legitimate expectations of the
Company, and fails to cure such violation(s) to the satisfaction of the Company within ten (10) business days after written notice is given to the Executive by the Company 

(viii) If the Executive has violated or breached the terms and conditions of this Agreement; 

(ix) If the Executive has plead guilty or “no contest” to, or is convicted by a court of a crime involving theft, fraud or
embezzlement or a crime that constitutes a felony or is proceeded with as an indictable offence; 
 (x) If the Executive has knowingly
caused the Company to commit a material violation of any applicable law that has (or is likely to have) a material adverse effect on the Company; 

(xi) If the Executive engagement in anything that reflects poorly on the Company, as determined by the Company, and fails to cure such
violation(s) to the satisfaction of the Company within ten (10) business days after written notice is given to the Executive by the Company; or 

(xii) If the Executive has disregarded a reasonable directive from the Company, and fails to cure such violation(s) to the satisfaction of
the Company within ten (10) business days after written notice is given to the Executive by the Company. Whether the Executive has disregarded a reasonable directive will be determined by the Company. 

In the event Executive is terminated pursuant to this paragraph, Executive will not be offered any severance payments and Executive’s compensation will
cease immediately. 
 (c) Involuntary Without Cause. The Company, in its sole discretion, may terminate this Agreement without
“Cause,” as that term is defined above, at any time during the term of this Agreement upon written notice, at which time Executive’s compensation shall cease immediately. In the event Company terminates this Agreement Without Cause,
Company will offer Executive twelve (12) months’ severance, to be paid at regular on pay dates and contingent on Executive abiding by the terms of this Agreement. To receive severance, Executive must execute a general separation and
release agreementthat would include a release by Executive of any claims against the Company and all “Release Parties” as defined in the release. 

  
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 (d) Change in Control. This Section shall apply if, in the two-year period following a
Change in Control, as that term is defined below, the Executive’s employment with the Company is terminated either: (i) by the Company, “Without Cause,” as that term is defined above; or by the Executive for “Good
Reason,” as that term is defined below. 
 For the purposes of this Agreement, “Good Reason” means Executive’s
resignation within thirty (30) days following the expiration of any Company cure period (discussed below) following the occurrence of one (1) or more of the following, without Executive’s express written consent: 

(i) a material adverse change of Executive’s title, authority, duties, position or responsibilities, or the removal of Executive from such position and
responsibilities, either of which results in a material diminution of Executive’s authority, duties or responsibilities (other than temporarily while Executive is physically or mentally incapacitated or as required by applicable law);
(ii) a material reduction in Executive’s Base Salary; or (iii) a material change in the geographic location of Executive’s primary work facility or location; provided, however, that a relocation of less than fifty (50) miles
from Executive’s then-present location will not be considered a material change in geographic location. Executive will not resign for Good Reason without first providing the Company with written notice of the acts or omissions constituting the
grounds for “Good Reason” within sixty (60) days of the initial existence of the grounds for “Good Reason” and a reasonable cure period of not less than thirty (30) days following the date the Company receives such
notice during which such condition must not have been cured. If any such termination occurs, (A) the Executive shall receive benefits set forth in Section 9(b) in addition to, (B) all outstanding equity- related awards held by the
Executive shall immediately vest and all options, stock appreciation rights or similar awards shall remain exercisable for the full original term of the award. 

For purposes of this Agreement “Change in Control” means the occurrence of one or more of the following events: (i) any
“person” (as such terms is used in Sections 3(a)(9) and 13(d) of the Securities Exchange Act of 1934 as amended (the “Act”)) or “group” (as such term is used in Section 14(d)(d) of the Act) is or becomes a
“beneficial owner” (as such term is used in Rule 13d- 3 promulgated under the Act) of more than 30% of the Voting Stock of the Employer (excluding acquisitions pursuant to a Business Combination (as defined below) that is not considered to
be a Change in Control under clause (v) below; (ii) the majority of the Board consists of individuals other than Incumbent Directors, which term means the members of the Board on the Effective Date; provided that any person becoming a
director subsequent to such date whose election or nomination for election was supported by two-thirds of the directors who then comprised the Incumbent Directors shall be considered to be an Incumbent Director (excluding any person who received
such support in connection with the settlement of a proxy contest); (iii) the Employer adopts any plan of liquidation providing for the distribution of all or substantially all of its assets; 

(iv) the Employer transfers all or substantially all of its assets or business (unless the shareholders of the Employer immediately prior to such transaction
beneficially own, directly or indirectly, in substantially the same proportion as they owned the Voting 

  
 12 

 
Stock of the Employer, all of the Voting Stock or other ownership interests of the entity or entities, if any, that succeed to the business of the Employer); or (v) any merger,
reorganization, consolidation or similar transaction (a “Business Combination”) unless, immediately after consummation of such Business Combination, (A) the shareholders of the Employer immediately prior to the Business Combination
hold, directly or indirectly, more than 50% of the Voting Stock of the Employer or the Employer’s ultimate parent company if the Employer is a subsidiary of another corporation, and (B) no person or group beneficially owns more than 50% of
the Voting Stock of the Employer or the ultimate parent company of the Employer if the Employer is a subsidiary of partner corporation. For purposes of this Change in Control definition, the “Employer” shall include any entity that
succeeds to all or substantially all of the business of the Employer and “Voting Stock” shall mean securities of any class or classes having general voting power under ordinary circumstances, in the absence of contingencies, to elect the
directors of a corporation. 
 10. Indemnification. During the Employment Period and thereafter, the Employer agrees to indemnify and
hold the Executive and the Executive’s heirs and representatives harmless, to the maximum extent permitted by law, against any and all damages, costs, liabilities, losses and expenses (including reasonable attorneys’ fees) as a result of
any claim or proceeding (whether civil, criminal, administrative or investigative), or any threatened claim or proceeding (whether civil, criminal, administrative or investigative), against the Executive that arises out of or relates to the
Executive’s service as an officer, director or employee, as the case may be, of the Employer, or the Executive’s service in any such capacity or similar capacity with an affiliate of the Employer or other entity at the request of the
Employer, both prior to and after the Effective Date, and to promptly advance to the Executive or the Executive’s heirs or representatives such expenses upon written request with appropriate documentation of such expense upon receipt of an
undertaking by the Executive or on the Executive’s behalf to repay such amount if it shall ultimately be determined that the Executive is not entitled to be indemnified by the Employer. During the Employment Period and thereafter, the Employer
also shall provide the Executive with coverage under its current directors’ and officers’ liability policy to the same extent that it provides such coverage to its other executive officers. If the Executive has any knowledge of any actual
or threatened action, suit or proceeding, whether civil, criminal, administrative or investigative, as to which the Executive may request indemnity under this provision, the Executive will give the Employer prompt written notice thereof; provided
that the failure to give such notice shall not affect the Executive’s right to indemnification. The Employer shall be entitled to assume the defense of any such proceeding and the Executive will use reasonable efforts to cooperate with such
defense. To the extent that the Executive in good faith determines that there is an actual or potential conflict of interest between the Employer and the Executive in connection with the defense of a proceeding, the Executive shall so notify the
Employer and shall be entitled to separate representation at the Employer’s expense by counsel selected by the Executive (provided that the Employer may reasonably object to the selection of counsel within ten (10) business days after
notification thereof) which counsel shall cooperate, and coordinate the defense, with the Employer’s counsel and minimize the expense of such separate representation to the extent consistent with the Executive’s separate defense. This
Section shall continue in effect after the termination of the Executive’s employment or the termination of this Agreement. 

  
 13 

 11. Notices. All notices, demands, requests, or other communications which may be or are
required to be given or made by any party to any other party pursuant to this Agreement shall be in writing and shall be hand delivered, mailed by first-class registered or certified mail, return receipt requested, postage prepaid, delivered by
overnight air courier, or transmitted by facsimile transmission addressed as follows: 
  

	 	(i)	If to the Employer: 

 Sagent Pharmaceuticals, Inc. 

1901 N. Roselle Road 

Suite 700 

Schaumburg, IL 60195 

Attn: Chief Executive Officer 
  

	 	(ii)	If to the Executive: 

 Each party may designate by notice in writing a new address to which any
notice, demand, request or communication may thereafter be so given, served or sent. Each notice, demand, request, or communication that shall be given or made in the manner described above shall be deemed sufficiently given or made for all purposes
at such time as it is delivered to the addressee (with the return receipt, the delivery receipt, confirmation of facsimile transmission or the affidavit of messenger being deemed conclusive but not exclusive evidence of such delivery) or at such
time as delivery is refused by the addressee upon presentation. 
 12. Severability. In case any one or more of the provisions
contained in this Agreement is, for any reason, held invalid in any respect, such invalidity shall not affect the validity of any other provision of this Agreement. If the final judgment of a court of competent jurisdiction declares that any term or
provision of this Agreement is invalid or unenforceable, the parties agree that the court making the determination of invalidity or unenforceability shall have the power to reduce the scope, duration or area of the term or provision, to delete
specified words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and
this Agreement shall be enforceable as so modified. 
 13. Blue-Penciling. Executive
acknowledges and agrees that the any of the restrictive covenants set forth in this Agreement are reasonable, necessary and valid in duration and geographical scope and in all other respect. If any court of competent jurisdiction determines that any
of the restrictive covenants set forth in this Agreement, or any part hereof, are unenforceable because of the duration or geographical scope of 

  
 14 

 
such provisions or otherwise, such court shall modify such provision so as to be the greatest restriction permitted by law, and such provision, in its modified form, shall then be enforceable.

 14. Effect on Other Agreements. The provisions of this Agreement shall supersede the terms of any plan, policy, agreement, award
or other arrangement of the Employer (whether entered into before or after the Effective Date) to the extent application of the terms of this Agreement is more favorable to the Executive. 

15. Assignment. The Company may assign this Agreement to any parent, subsidiary, affiliate or successor of the Company, or to any
entity that acquires all or substantially of the Company’s assets of the division in which Executive is employed. This Agreement is not assignable by Executive without the Company’s prior written consent, and is binding upon him and his
executors and other legal representatives. 
 16. Entire Agreement. This Agreement constitutes the entire agreement between the
parties respecting the employment of the Executive, there being no representations, warranties or commitments except as set forth herein. 

17. Amendments. This Agreement may not be changed except by a writing signed by the Company and Executive. Except as otherwise stated
herein, Executive represents to the Company that he or she is not presently bound by any agreement with any other person that conflicts with this Agreement. Executive is not relying on any representations, statements, promises or agreements that are
not set forth in writing in this Agreement. 
 18. Waiver. The waiver of a breach of any provision of this Agreement shall not
operate as or be construed to be a waiver of any other provision or subsequent breach of this Agreement. 
 19. Headings. Section and
subsection headings contained in this Agreement are inserted for convenience of reference only, shall not be deemed to be a part of this Agreement for any purpose, and shall not in any way define or affect the meaning, construction or scope of any
of the provisions hereof. 
 20. Governing Law. This Agreement, the rights and obligations of the parties hereto, and any claims or
disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Illinois (but not including any choice of law rule thereof that would cause the laws of another jurisdiction to apply). 

21. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall construe one and the same Agreement. Signature pages may be transmitted by facsimile or via PDF. Upon delivery of the facsimile or PDF, a signature shall be deemed an original and shall be admissible into evidence. 

  
 15 

 22. Withholding. The Employer may withhold from any benefit payment under this Agreement
all federal, state, city or other taxes as shall be required pursuant to any law or governmental regulation or ruling; provided that any withholding obligation arising in connection with the exercise of a stock option or the transfer of stock or
other property shall be satisfied through withholding an appropriate number of shares of stock or appropriate amount of such other property. 

23. Executive Acknowledgement. Executive acknowledges that Executive has fully read this Agreement, understands the contents of this
Agreement, and agrees to its terms and conditions of Executive’s own free will, knowingly and voluntarily, and without any duress or coercion. 

24. Representations and Warranties. Executive hereby represents and warrants, to the best of his knowledge, that: 

(a) other than those agreements disclosed to the Company by Executive in writing on or prior to the date of this Agreement (the “Prior
Agreements”), listed in Attachment A, Executive is not subject to any restrictive covenant in any agreement and no contractual or other commitment or covenant (including, but not limited to, obligations of confidentiality and/or
covenants not to compete with prior employers) exists which would prevent or impair Executive’s full performance of Executive’s duties and responsibilities under this Agreement and as an Executive for the Company; 

(b) Executive’s full performance of Executive’s duties for the Company and as an employee for the Company does not and will not
breach any Prior Agreement, if any; 
 (c) Executive has not, and will not, disclose or use during Executive’s employment with the
Company, any confidential information or trade secrets which Executive acquired as a result of any previous engagement, any employment or under a contractual obligation of confidentiality or secrecy before Executive became engaged by of the Company;

 (d) all prior obligations (written and oral), such as confidentiality agreements or covenants restricting future engagements, consulting
or employment, that Executive has entered into which restrict Executive’s ability to perform any services as an employee for the Company are listed below under the heading Executive’s List of Prior Agreements; 

(e) Executive does not have any obligation to grant rights in any Work Product to a third party that might conflict with Executive’s
obligations or the Company’s rights hereunder; and 
 (f) all of Executive’s contributions to Work Product shall be
Executive’s original work, and will not infringe, misappropriate or violate any intellectual property or other right of any third party. 

  
 16 

 25. Section 409A. The intent of the parties is that payments and benefits under this
Agreement comply with Section 409A of the Code, or an exemption thereunder, and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this
Agreement shall be interpreted to be in compliance therewith. If the Executive notifies the Employer (with specificity as to the reason therefor) that the Executive believes that any provision of this Agreement (or of any award of compensation,
including equity compensation or benefits) would cause the Executive to incur any additional tax or interest under Code Section 409A and the Employer concurs with such belief or the Employer (without any obligation whatsoever to do so)
independently makes such determination, the Employer shall, after consulting with the Executive, reform such provision to attempt to comply with Code Section 409A through good faith modifications to the minimum extent reasonably appropriate to
conform with Code Section 409A. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the
original intent and economic benefit to the Executive and the Employer of the applicable provision without violating the provisions of Code Section 409A. Notwithstanding the foregoing, Employer makes no representation that the payments and
benefits provided under this Agreement comply with Code Section 409A and, in no event whatsoever shall the Employer be liable for any additional tax, interest or penalty that may be imposed on the Executive by Code Section 409A or damages
for failing to comply with Code Section 409A. With respect to any payment or benefit considered to be nonqualified deferred compensation under Section 409A, a termination of employment shall not be deemed to have occurred for purposes of
any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A
and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” Notwithstanding anything to the contrary in this
Agreement, if the Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is
considered nonqualified deferred compensation under Code Section 409A payable on account of a “separation from service,” such payment or benefit shall not be made or provided until the date which is the earlier of (A) the
expiration of the six (6)-month period measured from the date of such “separation from service” of the Executive, and (B) the date of the Executive’s death, to the extent required under Code Section 409A. Upon the expiration
of the foregoing delay period, all payments and benefits delayed pursuant to this Section 25 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the
Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. To the extent

  
 17 

 
that reimbursements or other in-kind benefits under this Agreement constitute “nonqualified deferred compensation” for purposes of Code Section 409A, (A) all expenses or other
reimbursements hereunder shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by the Executive, (B) any right to reimbursement or in-kind benefits shall not be subject to
liquidation or exchange for another benefit, and (C) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for reimbursement, or in-kind
benefits to be provided, in any other taxable year. For purposes of Code Section 409A, the Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and
distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Employer. Notwithstanding any
other provision of this Agreement to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount
unless otherwise permitted by Code Section 409A. 
 [Signature Page Follows] 

  
 18 

 IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Agreement, or have caused this
Agreement to be duly executed and delivered on their behalf as of the Effective Date. 
  

			
	COMPANY:
	
	SAGENT PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Allan Oberman

	Name:	 	Allan Oberman
	Title:	 	Chief Executive Officer
	
	EXECUTIVE:
		
	By:	 	 /s/ Sean Brynjelsen

	Name:	 	Sean Brynjelsen

  
 19EX-10.12

 Subject to Confidential Treatment Request 

Exhibit 10.12 
 LICENSE
AGREEMENT 
 This LICENSE AGREEMENT (“Agreement”) is entered into as of the Effective Date (defined below) by
ELECTROBLATE, INC., a Nevada corporation, having its principal place of business at 401 Wilshire Blvd., Suite 1020, Santa Monica, CA 90401 (“Licensee”), and OLD DOMINION UNIVERSITY RESEARCH FOUNDATION, a Virginia non-stock, IRC 501(c)(3)
corporation (“ODURF”), having offices at 4111 Monarch Way, Norfolk, Virginia and EASTERN VIRGINIA MEDICAL SCHOOL (“EVMS”), a public body politic and corporate and political subdivision of the Commonwealth of Virginia, having
offices at 721 Fairfax A venue, Norfolk, Virginia. ODURF and EVMS are referred to collectively herein as the “Licensor.” Licensee, ODURF and EVMS are referred to individually herein as a “Party” and collectively herein as the
“Parties.” 
 RECITALS 

A. ODURF and EVMS jointly own the Licensed ODURF Patents (defined below), which are registered in the name of ODURF, that relate to
intracellular electro-manipulation and, subject to the terms and conditions of this Agreement, ODURF and EVMS are prepared to grant [*** Confidential] license to Licensee to commercialize, exploit and practice the Licensed ODURF Patents,
throughout the world and in the defined field of use, as defined below. 
 B. ODURF and EVMS also jointly own certain know-how related to
the practice of the Licensed ODURF Patents and related generally to intracellular electro-manipulation and, subject to the terms and conditions of this Agreement, are prepared to grant [*** Confidential] license to Licensee to utilize such
related know-how throughout the world and in the defined field of use, as defined below. 
 C. Licensor is engaged in the development of
medical device technology using bioelectronics to detect and treat disease and had previously entered into license agreements for the Licensed ODURF Patents and know-how related generally to intracellular electro-manipulation in certain defined
fields of use with Thelio-Pulse, Inc. (hereinafter “Thelio-Pulse”) with an effective date of February 28, 2012 (hereinafter “Thelio-Pulse License”), and NanoBlate Corporation (hereinafter “NanoBlate”) dated
May 31, 2012 (hereinafter “NanoBlate License”) 
 D. Licensor acknowledges that it has been advised by Licensee that Licensee
intends to enter into an agreement with Thelio-Pulse that Licensee will acquire certain assets of Thelio-Pulse subject to the 1) termination of the Thelio-Pulse License and 2) the entering into this Agreement by the parties hereto. 

E. Licensor acknowledges that it has been advised by Licensee that Licensee intends to enter into an agreement with NanoBlate that Licensee
will acquire NanoBlate subject to the 1) termination of the NanoBlate License and 2) the entering into this Agreement by the parties hereto. 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

 F. Licensee wishes to acquire (i) [*** Confidential] license, with right of
sublicencing, under the Licensed ODURF Patents solely for the purpose of practicing the Licensed ODURF Patents in the Licensed Field of Use (as defined below) and (ii) [*** Confidential] license to related know-how for the purpose of
developing, producing and selling Licensed Products within the Licensed Field of Use. 
 G. Licensee additionally wishes to acquire license
rights to Jointly-Derived ODURF Patents (as defined below), Licensor-Derived ODURF Patents (as defined below) and Other Licensed ODURF Patents (as defined below) and the related know-how, solely for the purpose of practicing those patents in the
Licensed Field of Use (as defined below) for the purpose of developing, producing and selling Licensed Products subject to the terms of this Agreement. 

H. Licensor and Licensee wish to enter into a Research Agreement attached hereto as Exhibit D which shall be executed concurrently with this
Agreement. 
 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

  

	1.	Definitions. As used in this Agreement, the following terms shall have the meanings set forth below: 

  

	 	1.1	“Affiliate” means any person or entity that owns or controls, is owned or controlled by, or is under common control with the Licensee, where, for purposes of this definition, the term “control” means
the possession, direct or indirect, or the powers to direct or cause the direction of the management and policies of an entity, whether through ownership of voting securities, by contract or otherwise. 

 

	 	1.2	“Claim” shall, unless otherwise specified, mean an issued claim in any of the patents licensed hereunder, which claim has not lapsed, been disclaimed, cancelled or become abandoned and which claim has not been
declared invalid or unenforceable by a final decision of a court of competent jurisdiction or other appropriate body of competent jurisdiction and which decision is not subject to appeal or reversal by a higher court or body. 

 

	 	1.3	 “Confidential Information” means all information concerning the business and proprietary affairs of a
Party which a reasonable person would understand to be confidential, including without limitation, product specifications, data, know-how, formulae, compositions, processes, designs, sketches, photographs, graphs, drawings, samples, inventions and
ideas, past, current, and planned research and development, current and planned manufacturing or distribution methods and processes, market studies, business plans, computer software and programs (including object code and source code), computer
software and database technologies, systems, structures and architectures (and related processes, formulae, composition, devices, inventions, discoveries, concepts, ideas, designs, methods and information); provided, however, that Confidential
Information shall not include (a) information that is in the public domain at the time it is disclosed to a receiving Party or enters the public domain through no fault of a receiving Party; (b) information lawfully obtained by a receiving
Party from a third party not in breach of any obligation of confidentiality or non-use to a disclosing Party; (c) information already known to a receiving Party at the time of 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
disclosure by a disclosing Party as shown by contemporaneous documentation acknowledging same; and (d) information furnished to others by a Party intended not to have restriction on
disclosure. 

  

	 	1.4	“Effective Date” means the date this Agreement has been signed by all Parties hereto. 

  

	 	1.6	“Insolvent” and “Insolvency” means the inability of a person to pay their debts as such debts become due in the ordinary course of business. 

 

	 	1.7	“License Consideration” means the issuance to ODURF of 1,417,500 shares (par value 0.0001 per share) of common stock in Licensee, which without taking into consideration any shares to be issued to New
BEM, Inc. in consideration for the remaining value of the grants held by New BEM, Inc. funded and held by the U.S. National Institute of Health, represents 31.5% of the issued and outstanding shares of common stock immediately after the acquisition
of New BEM, Inc. It is further recognized that as between ODURF and EVMS, the License Consideration shall then be further assigned or distributed with ODURF holding 80% of the License Consideration and EVMS holding 20% of the License Consideration.

  

	 	1.8	“Licensed Field of Use” means apparatuses, methods, products, devices, and systems intended for all human and animal applications, including, but not limited to, the direct or indirect diagnosis, detection,
prevention, treatment or cure of 1) [*** Confidential] of organs, the [*** Confidential] system or [*** Confidential], including but not limited to [*** Confidential] identified or imaged using laparoscope methodology
and/or endoscopic ultrasound methodology, 2) [*** Confidential] of the patient, and 3) disease, injury, or condition of [*** Confidential]. The parties intend this [*** Confidential] field of use to be broadly construed, such
as, by way of example only, to encompass [*** Confidential] including, but not limited to [*** Confidential]. The parties agree that the technologies covered herein are related to pulses of or less than one microsecond.

  

	 	1.9	“Licensed ODURF Patent(s)” means (a) the patents listed in attached Exhibit B which may be amended from time to time, including any United States or foreign patent, or patent application, derived
therefrom, claiming priority thereto, or claiming an invention disclosed therein, including all counterparts, divisionals, continuations, continuations-in-part, requests for continued examination, continued prosecution applications, reexaminations,
reissues, substitutions, patent term extensions and renewals thereof, and (b) any other patents or patent applications now or later (during the Term) owned, controlled, or licensable by Licensor, ODURF, Old Dominion University, or EVMS, that is
or would be infringed by Licensee in exercising its rights under this Agreement but for the license grants under this Agreement. 

  

	 	1.10	“Licensed Product(s)” shall mean any product, device, system, apparatus, kit, component, method, procedure, application, process or service the manufacture, use, sale, offer for sale, commercialization,
exploitation, disposition, practice or import which is the subject of the licenses granted in this Agreement within the Licensed Field of Use or utilizes the Related Know How. 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	1.11	“Licensed Territory” means the world. 

  

	 	1.12	“Net Sales” means the gross invoice sales price or other gross consideration received from the Sale of Licensed Products based on the Other ODURF Patents by Licensee or its sub-licensees to unaffiliated third
parties, less [*** Confidential]. For clarity, Net Sales does not include Licensed Products that are Otherwise Disposed Of. 

  

	 	1.13	“Non-affiliate” shall mean any person or entity that is not otherwise the Licensee or an Affiliate. 

  

	 	1.14	“Otherwise Disposed Of” means not Sold but delivered to others without receipt of any consideration such as when product is distributed for use in research, product development, clinical or other experimental
non-commercial trials, 

  

	 	1.15	“Prosecution Matters” mean those steps taken in an effort to have a patent registration issued by the relevant registration authority including, without limitation, the drafting and filing of the initial
application and the drafting and filing of any responses to office actions or other communications from the relevant registration authority. 

  

	 	1.16	“Regulatory Body” means a governmental body such as the United States Food and Drug Administration or other legally-recognized entity that must approve or otherwise license the manufacture, use, testing or
sale of a Licensed Product in any jurisdiction in the Licensed Territory. 

  

	 	1.17	“Related Know How” shall mean Licensor’s unpatented know how, technical data, Trade Secrets, or other information of any kind, owned or licensed by Licensor, which relates to or is useful for the design,
manufacture, operation, use, practice, testing or sale of any Licensed Product but which is not the subject of an issued patent within the Licensed ODURF Patents, Jointly-Derived ODURF Patents, Licensor-Derived ODURF Patents, and Other ODURF
Patents. 

  

	 	1.18	“Research Agreement” the agreement between the Licensor and Licensee attached as Exhibit D. 

  

	 	1.19a	“Jointly-Derived ODURF Patents” means any patents with claims derived jointly by the Licensor and the Licensee pursuant to the Research Agreement, including any United States or foreign patent, or patent
application, derived therefrom, claiming priority thereto, or claiming an invention disclosed therein, including all counterparts, divisionals, continuations, continuations-in-part, requests for continued examination, continued prosecution
applications, reexaminations, reissues, substitutions, patent term extensions and renewals thereof. 

  

	 	1.19b	“Licensor-Derived ODURF Patents” means any patents with claims derived solely by the Licensor pursuant to the Research Agreement, including any United States or foreign patent, or patent application, derived
therefrom, claiming priority thereto, or claiming an invention disclosed therein, including all counterparts, divisionals, continuations, continuations-in-part, requests for continued examination, continued prosecution applications, reexaminations,
reissues, substitutions, patent term extensions and renewals thereof. 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	1.19c	“Other ODURF Patents” means any patents with claims in the Licensed Field of Use, other than the Licensed ODURF Patents, the Jointly-Derived Patents and the Licensor-Derived Patents, including any United
States or foreign patent, or patent application, derived therefrom, claiming priority thereto, or claiming an invention disclosed therein, including all counterparts, divisionals, continuations, continuations-in-part, requests for continued
examination, continued prosecution applications, reexaminations, reissues, substitutions, patent term extensions and renewals thereof. 

  

	 	1.20	“Sale” or “Sold” means to sell or lease for consideration Licensed Products. 

  

	 	1.21	“Sublicensee” shall mean a Non-affiliate to whom Licensee has granted a sublicense, subject to the terms of this Agreement, under the Licensed ODURF Patents, the Jointly-Derived Patents, the Licensor-Derived
Patents or the Other ODURF Patents, which are licensed under this Agreement and any Related Know-How to make, use, sell, offer to sell, practice, exploit, dispose or otherwise commercialize Licensed Product. 

 

	 	1.22	“Trade Secrets” means data, formulae, compositions, processes, graphs, samples, forms, inventions and ideas, existing vendor and supplier lists or prospective vendor and supplier lists, pricing and cost data,
market studies, business plans, computer software and programs (including object code and source code), database technologies, systems, structures and architectures (and related processes, formulae, composition, improvements, devices, inventions,
discoveries, concepts, ideas, designs, methods and information), and any other information, however documented, that is a trade secret within the meaning of Virginia Code § 59.1-336 et seq. 

 

	2.	Term and Termination. 

  

	 	2.1	Term. This Agreement shall become effective as of the Effective Date. Unless terminated earlier in accordance with this Section 2, this Agreement shall terminate on the expiration of the last to expire of
the patents licensed herein, on the abandonment of the last to be abandoned patent application licensed herein, or on the expiration of all royalty obligations, whichever occurs later (such period of time from the Effective Date until the date of
termination being referred to herein as the “Term”). For the purpose of this Agreement, “abandonment” is defined with reference to 37 C.F.R. Sections 1.135, 1.138 or any applicable equivalent foreign patent provisions.

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	2.2	Termination By Licensor. In addition to its rights to enforce the provisions of any other Section of this Agreement, Licensor shall have the right, at its option, to terminate this Agreement, in accordance with
the procedures set forth in Section 2.4, on the occurrence of any one or more of the following events after delivery to Licensee of a written notice specifying such event and the passage of the applicable cure periods specified herein or in the
absence of specified cure periods, the failure to remedy such breach within [*** Confidential] of notice thereof: 

  

	 	2.2.1	On the material breach of or default of this Agreement by Licensee; 

  

	 	2.2.2	For purposes of Section 2.2.1, a material breach or default of this Agreement shall include, but not be limited to, each of the following: (i) Licensee attempts to use, sublicense, transfer or assign its
rights or obligations under this Agreement in violation of Section 3.2 of this Agreement or in violation of Licensor’s proprietary rights in the Licensed ODURF Patents; (ii) Licensee fails to secure or maintain the insurance coverage
required by Section 6; (iii) failure by Licensee to pay the License Consideration or any royalty or sublicense fee; (iv) any failure of Licensee to achieve any of the Mandatory Performance Milestones as set forth in Exhibit C
(“Mandatory Performance Milestones”); or (v) any default under the terms of the Research Agreement contained at Exhibit D that remains uncured beyond the allowed cure period or which results in a termination of the Research Agreement.

 2.2.2.1. In the event that Licensor has the right to terminate this Agreement as a result of Licensee’s failure to
achieve the Mandatory Performance Milestones under Exhibit C herein, Licensor at its sole option may, by written notice to Licensee, elect not to terminate this Agreement, but instead to convert Licensee’s rights in the Licensed ODURF Patents
and Related Know-how into non-exclusive rights and ODURF may also sell, transfer, commercialize, exploit and practice the same non-exclusive rights without being in breach of this Agreement and Licensee acknowledges and accepts such joint rights.

  

	 	2.2.3	Notwithstanding any notice periods required for any other termination, Licensor may terminate this Agreement effective immediately on the postmarked date of mailing of written notice to Licensee if Licensee
(i) makes an assignment for the benefit of creditors, (ii) becomes Insolvent, (iii) has a bankruptcy petition filed by or against it which petition is not vacated or stayed within [*** Confidential], or (iv) a receiver or
trustee in bankruptcy or similar officer is appointed to take charge of all or a material part of Licensee’s property. 

  

	2.3	Termination by Licensee. 

  

	 	2.3.1	In addition to its rights to enforce the provisions of any other Section of this Agreement, Licensee shall have the right, at its option, to terminate this Agreement, in accordance with the procedures set forth in
Section 2.4, on Licensor’s material breach and Licensor’s failure to remedy any such material breach within [*** Confidential] after written notice thereof by Licensee. 

 

	 	2.3.2	 In addition, without limiting the forgoing and notwithstanding anything to the contrary including
Section 2.4 below, Licensee may within its sole discretion terminate this Agreement without cause or for its own convenience upon providing [*** Confidential] written notice to Licensor. Upon such a termination for convenience or without
default, the Licensee may cease the payment of any future payments, fees or royalties under this Agreement, except 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
for Licensee’s pro rata share of patent prosecution expenses that were due and payable pre-termination, amounts due under the Research Agreement and other cash amounts due hereunder;
provided, however, that Licensee shall remain liable for any pre-termination obligations under this Agreement. 

  

	2.4	Exercise of Rights By Terminating Party. The Party terminating this Agreement (the “Terminating Party”) may exercise its right of termination, only after giving all notices described herein and the
expiration of all cure periods, if any, by giving the other Party, or its trustees, receivers or assigns, as the case may be (the “Non-Terminating Party”), [*** Confidential] prior written notice of such Terminating Party’s
election to terminate (unless a shorter or longer period is specified in a provision of this Agreement). Such notice shall include a brief description of the basis for such termination, but any inadequacy in the description claimed by the
Non-Terminating Party will not be cause to deny a termination. On expiration of such period, this Agreement shall automatically terminate unless the Non-Terminating Party has elected to pursue the resolution of any controversy in accordance with
Section 13 hereof within the applicable cure period, in which event the question of whether the Terminating Party is entitled to terminate this Agreement shall be determined by the dispute resolution process as provided in Section 13 and
this Agreement shall not be terminated by the Terminating Party until such process has finally determined that the Terminating Party is entitled to terminate this Agreement. 

 

	 	2.5	Other Effects of Termination. 

  

	 	2.5.1	On termination of this Agreement pursuant to Section 2.2 or Section 2.3, Licensee shall destroy all data, writings, and other documents and tangible materials supplied to Licensee by Licensor in respect of the
Licensed ODURF Patents, Licensor-Derived ODURF Patents and Other ODURF Patents and Related Know How, except that Licensee may retain a copy for its archived legal files. In addition, on such termination, Licensor shall have the option for [***
Confidential] to negotiate with Licensee to acquire at [*** Confidential] (x) all drawings and data related to equipment design and manufacture of equipment, which if used by Licensee would infringe on the Licensed ODURF Patents,
Licensor-Derived ODURF Patents and Other ODURF Patents and Related Know How and (y) all equipment, which if used by Licensee would infringe on the Licensed ODURF Patents Licensor-Derived ODURF Patents and Other ODURF Patents and Related Know
How. 

  

	 	2.5.2	Licensee, its Affiliates and Sublicensees shall have [*** Confidential] from the date of the expiration or termination of this Agreement, to sell all Licensed Product on hand or to sell Licensed Product once its
manufacture is completed. On expiration of such [*** Confidential] period, Licensee shall return, or at Licensor’s written direction, destroy, all Licensed Product on hand. 

 

	 	2.5.3	 On any termination of this Agreement, all rights granted to or provided by each Party to the other shall
automatically and irrevocably revert to the granting Party or Parties. If this Agreement is terminated or cancelled (i) by Licensor for any reason other than because of a material breach by Licensee, (ii) is

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
terminated by Licensee because of a material breach by Licensor, or (iii) is mutually terminated by the Licensor and Licensee, then the funding obligations of Licensee under the Research
Agreement will terminate immediately; otherwise, subject to the terms of the Research Agreement, the funding obligations under the Research Agreement will survive termination or cancellation of this Agreement. 

 

	 	2.6	Achievement of Mandatory Performance Milestones. If Licensee fails to reach any of the Mandatory Performance Milestones set forth on attached Exhibit C, then Licensor shall thereafter have the option to
terminate the Agreement on written notice to Licensee, as provided in Section 2.2. This option must be exercised within [*** Confidential] of the milestone completion date, with any applicable extensions. 

 

	 	2.7	Certain Rights After Termination. Upon any termination of this Agreement, Licensee and its Sublicensees shall have the right to sell inventory in stock as of the date of termination, provided that such sales
shall be subject to the payment of royalties in accordance with the provisions of Section 4. 

  

	3.	Licenses. 

  

	 	3.1	License Grants. Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee, [*** Confidential] transferable, sub-licensable license under the Licensed ODURF Patents and
[*** Confidential] transferable, sub-licensable license in the Related Know-How to the extent not otherwise within the scope of the [*** Confidential] under the Licensed ODURF Patents, in order to make, have made, use, offer to sell,
sell, import, manufacture, practice and otherwise exploit, dispose of and commercialize the Licensed Products solely within the Licensed Field of Use in the Licensed Territory. 

Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee, [*** Confidential] transferable,
sub-licensable license under the Jointly-Derived ODURF Patents and [*** Confidential] transferable, sub-licensable license in the Related Know-How to the extent not otherwise within the scope of [*** Confidential] under the
Jointly-Derived ODURF Patents, in order to make, have made, use, offer to sell, sell, import, manufacture, practice and otherwise exploit, dispose of and commercialize the Licensed Products solely within the Licensed Field of Use in the Licensed
Territory. 
  

	 	3.2	Sublicensing. 

  

	 	3.2.1	 Generally. Subject to the terms and conditions of this Agreement, Licensee is granted the right to grant
sublicenses that are not inconsistent with or which offer terms that are not greater in scope than the licenses granted to Licensee. Prior to the execution of any sublicense, Licensee shall provide Licensor with a confidential one-page summary of
the sublicense agreement to be executed by Licensee and within [*** Confidential] Licensor shall have the right to 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
interview Licensee to confirm for itself prior to execution that the sublicense to be granted by Licensee does not violate the terms of this Agreement and is being granted on terms that are no
greater in scope than the terms of the Agreement. Licensee shall then supply Licensor with a fully executed copy of each such sublicense agreement within [*** Confidential] after the execution of such sublicense agreement. Licensee shall
monitor the performance hereunder of its Sublicensees, if any, but shall not be a guarantor for such Sublicensees. Licensee reserves the right to redact certain portions of the sublicense agreement if reasonably required by the sublicense. In all
sublicenses granted by Licensee hereunder, Licensee shall include a requirement that the Sublicensee use no less than commercially reasonable efforts to bring the subject matter of the sublicense into commercial use. Licensee shall further provide
in such sublicenses that Licensor is named as an intended third party beneficiary of such sublicense, that such Sublicenses shall terminate upon the termination of the License, and that such sublicenses are subject and subordinate to the terms and
conditions of this Agreement. 

  

	 	3.2.2	Assignment of Sublicenses. If this Agreement is terminated prior to Term pursuant to Section 2.2, then Licensee shall seek to promptly assign all of its right, title, and interest to all sublicenses to
Licensor, including the right to receive all income from Sublicensees. Licensee shall expressly include this requirement as part of any sublicense agreement. 

  

	 	3.3	Future Patent Licenses to Licensee. 

  

	 	3.3.1	Licensor Derived ODURF Patents. In respect of any Licensor Derived ODURF Patents, the Licensee shall have [*** Confidential] option, commencing on the date of patent issuance, to either 1) obtain a
non-exclusive, royalty-free license to any such patents and Related Know How, or 2) obtain an exclusive license to such patents and a non-exclusive license to the Related Know How, subject to the Licensor’s right to use for educational,
non-commercial, and research purposes. The terms of either of these licenses shall be subject to the terms of this Agreement in the same basis as the Licensed ODURF Patents, except that in the case of the license to the patents being an exclusive
license, Licensee shall pay to the Licensor a royalty equal to [*** Confidential] of the [*** Confidential] and are based on the Licensor Derived ODURF Patents. 

 

	 	3.3.2	Other ODURF Patents. For any Other ODURF Patents, Licensee shall have rights of first negotiation to a patent license provided that, if not exercised, ODU/ODURF shall not enter into a license with any third party
on substantially equivalent or less favorable terms than the last offer made by Licensee without first offering a license to Licensee on equivalent terms. These rights of first negotiation shall be for a period of [*** Confidential] following
the termination of the last of any Licensee-funded Research Agreement or of the termination of this Agreement. 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

 3.4 Platelet Gel Technology. Licensor agrees that it will, with the advice and counsel of
the Licensor, negotiate in good faith with General Electric Corporation, and/or its subsidiaries, to obtain a sub-license, pursuant to this Agreement, of any patents and Related Know How issued pursuant to PCT/US09/64431 and 2473841 PCT Canada
“Activation and Aggregation of Human Platelets and Formation of Platelet Gels by Nanosecond Pulsed Electric Fields” with terms mutually agreeable to the Licensor and the Licensee. Licensee will be the sub-licensor (under license from
ODURF) to GE of the platelet gel IP as part of the ODURF/EVMS agreements with Licensee. 
 Licensee shall pay to the Licensor [***
Confidential] of the [*** Confidential] derived from any products based on the GE patents and Related Know How as set forth above. 
  

	 	3.5	Reservation of Rights. 

  

	 	3.5.1	Licensor reserves all rights not expressly granted to Licensee in this Agreement. Without limiting the generality of the foregoing, Licensee acknowledges and agrees that (a) except as expressly set forth in this
Agreement, Licensor retains all right, title and interest in and to the Licensed ODURF Patents and Related Know How, and Licensee acknowledges and agrees that, except as expressly provided herein, Licensee does not acquire any rights, express or
implied, in or to the Licensed ODURF Patents and Related Know How; and (b) any configuration or commercialization of the Licensed Products shall not affect or diminish Licensor’s right, title, and interest in and to the Licensed ODURF
Patents and Related Know How. 

  

	 	3.5.2	Notwithstanding any other language to the contrary or arguably to the contrary, all licenses granted in Section 3 of this Agreement, including without limitation even [*** Confidential] licenses so granted,
are specifically subject to a reserved [*** Confidential] right of the Licensor to conduct research activities related, directly or indirectly, to the Licensed ODURF Patents and Related Know How in the Licensed Field of Use for academic
research or for scholarly teaching, but not for Sale or distribution to any third party for commercial purposes. 

  

	 	3.5.3	 As noted on Exhibit B, some of the Licensed ODURF Patents were developed with research subject to partial
federal sponsorship. Notwithstanding anything to the contrary contained herein, the granting and exercise of the license in this Agreement is subject to 35 U.S.C. 200 et seq., implementing regulations thereof (e.g., 37 CFR 401), and Licensors’
obligations under agreements with the U.S. Government for the underlying research. The Licensed ODURF Patents developed from such research are “subject inventions” as that term is defined under Title 35 United States Code Sections 200
through 204. This Agreement, including the rights granted hereunder, is subject to all of the terms and conditions of Title 35 United States Code Sections 200 through 204, including an obligation that Licensed Products sold or produced in the United
States be “manufactured substantially in the United States,” and Licensee agrees to take all reasonable action necessary on its part to enable Licensor satisfy its obligations thereunder. Licensor has granted the U.S. Government a
non-exclusive, nontransferable, irrevocable, paid-up 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
license to practice or have practiced for or on behalf of the United States the “subject inventions” throughout the world, and no grant of licenses to Licensee here shall be deemed to
be inconsistent with such Government rights. 

  

	 	3.6	Technology Transfer Disclosure Efforts of Licensor. On execution of this Agreement, copies of all technical drawings, software, test data, lab notebooks, patents, patent applications, and all other information,
all prototypes and other hardware for inspection and photographing, in the custody or under the control of any Licensor that constitutes, is useful for or relates to the Licensed ODURF Patents, Licensed Products or Related Know How that is relevant
to the Licensed Field of Use shall be made available to Licensee within a reasonable amount of time upon written request. Additionally, with respect to any Jointly-Derived ODURF Patents and Licensor Derived ODURF Patents and Related Know How,
Licensor will provide to Licensee all technical drawings, software, test data, lab notebooks, patents, patent applications, and all other information, all prototypes and other hardware for inspection and photographing, in the custody or under the
control of any Licensor that constitutes, is useful for or relates thereto, relevant to the Licensed Field of Use, which will be made available within a reasonable amount of time upon written request. 

 

	 	3.7	Commercial Efforts of Licensee. Licensee may, from time to time, engage in the conception, development, manufacture, use, practice, or sale of other products, devices, or methods which may compete with Licensed
Products. 

  

	 	3.8	Right of Review to Other Inventions. Except as Licensor may otherwise be restricted by law, governmental rule or governmental regulation or in a good faith agreement with a third party, Licensor agrees to notify
Licensee, within a reasonable period of time, of any other inventions within or relating to the Licensed Field of Use conceived and/or reduced to practice by ODURF, Old Dominion University and/or EVMS, their respective employees, agents or
contractors during the Term, not otherwise covered by this Agreement so that Licensee is given the right to review the above-referenced invention(s) including an opportunity to then negotiate a license to the invention under commercially reasonable
terms. 

  

	4.	Fees and Royalties. 

  

	 	4.1	License Consideration. Upon the acquisition of Thelio-Pulse and Nanoblate by Licensee, Licensee shall pay the License Consideration to Licensor. Licensor’s sole remedy for Licensee’s default in its
obligation to pay the License Consideration when due shall be to terminate this Agreement in accordance with Section 2.2 hereof, without further consideration or damages; provided, however, that such limitation shall not apply to other breaches
of this Agreement by Licensee prior to the payment of the License Consideration. 

  

	 	4.2	Expenses. Except as expressly set forth in this Agreement, each Party will bear its own costs and expenses, including without limitation legal fees, related to the performance of its obligations under this
Agreement. 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	5.	Government Approvals; Conduct of Studies. 

 As among the Parties,
Licensee shall be solely responsible for the filings, costs and other matters related to establishing compliance of the Licensed Products with all current and future laws, statutes, rules and regulations of any Regulatory Body. Without limiting the
generality of the foregoing, all studies, research and testing done by or on behalf of Licensee, its Affiliates or Sublicensees under this Agreement shall be performed in compliance with any applicable federal, state or local laws, rules, policies
and regulations governing the conduct of the studies, research and testing. 
  

	6.	Insurance. 

  

	 	6.1	[*** Confidential] Liability. Licensee shall obtain within [*** Confidential] of the consummation of the acquisition of Thelio-Pulse and Nanoblate and thereafter carry in full force and effect a
policy of [*** Confidential] liability insurance in an amount [*** Confidential] or such [*** Confidential] higher amount that the Licensee determines in its discretion which is reasonable and appropriate in light of its
business operations. 

  

	 	6.2	[*** Confidential] Liability. Licensee shall, to the extent generally available on commercially reasonable terms, obtain and carry in full force and effect, prior to [*** Confidential] relating to
the Licensed Products and [*** Confidential] of this Agreement, [*** Confidential] liability insurance in an amount deemed reasonably necessary by Licensee, but [*** Confidential] prior to start of [*** Confidential]
prior to start of [*** Confidential], and [*** Confidential] Sale of a Licensed Product in the United States covered by a valid Licensed ODURF Patent for [*** Confidential] and [*** Confidential] respectively, in the
aggregate. 

  

	 	6.3	General Provisions. All insurance required by this Agreement must be on an [*** Confidential] basis as those terms are understood in the insurance industry. Coverage shall be obtained by the Licensee only
from insurers who are rated [*** Confidential] or better in the then most recent edition of Best’s Insurance Reports. Each insurance policy shall provide for a waiver of the insurer’s subrogation rights against the Licensor. Each
policy shall name Licensor as an additional insured and be endorsed to provide [*** Confidential] notice of cancellation, nonrenewal, or restriction of coverage. At least annually and at such other times as may be requested by the Licensor,
but in any case prior to the commencement of production, sale, or transfer, whichever occurs first, of any Licensed Product, Licensee shall cause its insurers to deliver to the Licensor certificates of insurance evidencing the existence of the
coverages required under this Agreement. 

  

	7.	Prosecution, Infringement and Enforcement. 

  

	 	7.l	 Prosecution and Maintenance of Licensed ODURF Patents in the United States. Licensor shall have the sole
right to file, prosecute and maintain all Licensed ODURF Patents and Licensor Derived ODURF Patents and patent applications for Licensed ODURF Patents and Licensor Derived ODURF Patents in the United States within the Licensed Field of Use. In
addition, Licensor shall have the right to determine whether 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
or not to file a patent application, abandon the prosecution of any patent application, or discontinue the maintenance of any Licensed ODURF Patent and Licensor Derived ODURF Patents. Licensor
shall promptly provide Licensee with copies of all documents relating to all Prosecution Matters for any licensed or licensable patent hereunder, patent application, or contemplated patent application filed or considered for filing by Licensor
within the Licensed Field of Use prior to the filing of same. Licensee shall have the right for no more than [*** Confidential] to review such material before it is filed and the right to comment upon all Prosecution Matters for any licensed
or licensable patent hereunder or patent application filed by Licensor within the Licensed Field of Use prior to filing, and Licensor shall make revisions and incorporate comments, as requested by Licensee, if there is a reasonable legal and/or
technical basis to do so. 

  

	 	7.2	Right To Assume Prosecution. For any application that is filed anywhere in the world, if Licensor makes a determination that it does not want to file a patent application, continue prosecuting a patent
application or maintain a licensed or licensable patent hereunder within the Licensed Field of Use, Licensor will notify Licensee of same in a timely manner, and Licensee shall have the option, at Licensee’s expense, to assume direction of the
filing, prosecution and/or maintenance of such patent application or licensed or licensable patent without further notification to Licensor. Licensee shall also have the right to bring to Licensor’s attention Licensor inventions relating to
Licensee’s Licensed Field of Use. Licensor may elect not to proceed with the filing of a patent application(s) covering such inventions or to later surrender prosecution or maintenance of a patent based on such invention upon [***
Confidential] written notice to Licensee. If Licensor elects not to proceed with the filing of such patent application or to surrender prosecution or maintenance of a patent, then Licensee may then prosecute and maintain such patent at its own
expense; provided, however, that Licensor shall have the right for no more than [*** Confidential] to review and comment on all Prosecution Matters for any of the licensed or licensable patents hereunder or patent applications to be filed by
Licensee within the Licensed Field of Use. In the event of termination of this Agreement, any such patents shall be promptly transferred or assigned back to Licensor at Licensors’ expense. 

 

	 	7.3	 Prosecution of Licensed ODURF Patents in Countries Other than the United States. Licensor shall only file,
prosecute and maintain all licensed or licensable patents hereunder and patent applications, within the Licensed Field of Use, in those countries other than the United States as requested by Licensee. Licensor shall promptly provide Licensee with
copies of all documents relating to all Prosecution Matters for any such patents, patent application, or contemplated patent application filed or considered for filing by any Licensor outside of the United States within the Licensed Field of Use
prior to filing. Licensee shall have the right to review and the right to comment upon all Prosecution Matters for any such licensed or licensable patents or patent application, and Licensor shall make revisions and incorporate any comments if there
is a reasonable legal and/or technical basis to do so. [*** Confidential] cost of patent preparation and prosecution in such other countries will be assumed by Licensee. Licensee shall reimburse Licensor for all such patent prosecution
expenses reasonably incurred within [*** Confidential] following receipt of invoices from Licensor. [*** 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
Confidential] shall be subject to [*** Confidential]. Licensee may elect to have Licensor surrender prosecution or maintenance of a licensed or licensable patent in any non-US
country upon [*** Confidential] written notice to Licensor. Such notice shall not relieve Licensee from its responsibility to reimburse Licensor for prosecution or maintenance expenses incurred prior to the expiration of the [***
Confidential] notice period (or such longer period specified in Licensee’s notice). Licensor may then prosecute and maintain such licensed or licensable [*** Confidential], and Licensee’s [*** Confidential] shall be
adjusted accordingly to account for Licensee’s decision not to have Licensor pursue or maintain patent protection in certain countries. 

  

	 	7.4	Cooperation in the Prosecution of Licensed ODURF Patents. Licensor shall cooperate fully and use their best efforts in the preparation, filing, prosecution and maintenance of the licensed and licensable patents,
and patent applications licensed to Licensee hereunder, executing all papers and instruments or requiring members and inventors of Licensor to execute such papers and instruments needed to apply for, to prosecute and to maintain patent applications
and patents in any country. Licensor shall provide to Licensee prompt notice as to all matters which come to their attention and which may affect the preparation, filing, prosecution or maintenance of any such patent applications or patents.
Licensee must immediately notify Licensor if Licensee or any Affiliate or Sublicensee (or optionee) does not qualify as a “small entity” as provided by the United States Patent and Trademark Office. 

 

	 	7.5	Patent Expenses Incurred After the Effective Date. Licensee shall be responsible for payment of all reasonable and documented costs incurred by Licensor on or after the Effective Date, continuing for the life of
this Agreement, and associated with the preparation, filing, prosecuting, issuance and maintenance of all patent applications and patents included within the patent rights. Said amounts for on-going patent expenses shall be paid to ODURF within
[*** Confidential] of Licensee’s receipt of an invoice from ODURF; such invoices shall be sent to Licensee on a [*** Confidential] basis. Upon request, Licensor shall provide Licensee for its budgeting purposes, an approximate
written estimate of Licensee’s expected [*** Confidential] cost for the future prosecution and maintenance of the licensed and licensable patents, for a given calendar year. 

 

	 	7.6	Right To Delay Licensor Publication. Should Licensee be permitted the right to prosecute a patent application under sections 7.1, 7.2 or 7.3, Licensor agrees to delay the publication of any subject matter that is
the subject of publication for a period of [*** Confidential] from written notice to the Licensee of the intent to so publish to enable Licensee to prosecute such patent applications. 

 

	 	7.7	Infringement and Enforcement Actions. 

  

	 	7.7.1	Each Party shall notify the other Party of any suspected infringement(s) of the patents licensed hereunder or Related Know-How and shall inform the other Party of any evidence of such infringement(s). 

 

	 	7.7.2	 During the Term, Licensee shall have the first right but not the obligation to institute suit for third party
infringement of any Claim in any of the licensed 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
patents hereunder or Related Know-How within the Licensed Field of Use in the Licensed Territory [*** Confidential]; provided, however, Licensee notifies Licensor no later than [***
Confidential] prior to filing suit or provides notice as soon as practicable when seeking a preliminary or temporary injunction. The failure to provide any of the foregoing notices will not be a breach hereunder. If Licensee does not institute
suit for infringement(s) within [*** Confidential] after receipt of written notice from Licensor of Licensor’s request that a suit for infringement be filed, then Licensor may[*** Confidential] bring suit or take any other
appropriate action. Licensor agrees to join as a party plaintiff [*** Confidential] in any section 7.7 or 7.8 lawsuit initiated or controlled by Licensee, if requested by Licensee or ordered by a court. 

 

	 	7.7.3	Licensee shall control any litigation, claim, action or proceeding it initiates, including the selection of counsel. Licensor may retain additional counsel of its own selection and at its own expense to observe the
litigation and to advise or assist Licensor. Licensee and its counsel will cooperate with and seek the input of Licensor’s counsel in such matters. 

  

	 	7.7.4	Any Party that initiates an affirmative infringement action [*** Confidential] under section 7.7.2 [*** Confidential]. 

 

	 	7.7.5	Neither Party may settle with an infringer without the prior approval of the other Party (with such approval not to be unreasonably withheld or delayed) if such settlement would prejudice the rights of the other Party.

  

	 	7.7.6	Licensor shall provide Licensee with reasonable cooperation in any and all litigation matters or other claim, action or proceedings arising from or relating to the licensed and licensable patents and Related Know How
subject to this Agreement [*** Confidential]. Licensee will [*** Confidential] Licensor with respect to any litigation cooperation. 

  

	 	7.8	Claims of Third Party Infringement and Invalidity. 

  

	 	7.8.1	Licensee shall have the right in its sole discretion to control the defense of any claim, action or proceeding (i) where a third party charges or notifies Licensee of a claim of infringement due to Licensee’s
manufacture, use, sale or offer for sale of the Licensed Products, or Licensee’s practice of the licensed and licensable patents and Related Know-How, (ii) where a declaratory judgment action or other related proceeding alleging
invalidity, unenforeceability or noninfringement of any licensed or licensable patent or Related Know How hereunder which is brought, or (iii) when the Licensee becomes aware of the need to obtain a license from a third party. In any of these
circumstances, Licensee may [*** Confidential] Licensor under this Agreement by [*** Confidential] or Licensee may instead [*** Confidential] Licensee in connection with its handling of (i), (ii) and/or (iii).

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	8.	Confidentiality. 

  

	 	8.1	Protected Information. Each Party shall regard and preserve as confidential all Trade Secrets and other Confidential Information pertaining to the other Party that has been or may be obtained by a Party by reason
of this Agreement. Except in accordance with this Agreement, a Party shall not disclose, use for its own benefit or purpose, deliver, reproduce or in any way allow any Trade Secrets or Confidential Information to be delivered to, or used by, any
third party without the specific written direction or written consent of a duly authorized representative of the disclosing Party. During or after the termination of this Agreement, no Party shall publish, release or otherwise make available to any
third party any information describing any Trade Secret, or for a period of [*** Confidential] after the termination of this Agreement other Confidential Information without prior specific written authorization of the Disclosing Party. Except
as required by this Agreement, a Party shall not appropriate, retain or copy any Confidential Information or Trade Secrets of another Party. 

  

	 	8.2	Audit Verification Rights. For the purpose of verifying the promises of section 8.1 and for [*** Confidential] period beginning after the termination of this Agreement, Licensor shall have the right
[*** Confidential] to engage an independent third party inspector, not involved with the commercial application of the patents licensed hereunder, Licensed Products or the Licensed Field of Use, to inspect the facilities of Licensee during
regular business hours and on reasonable advance notice, if it has a reasonable and justifiable belief that Licensee is using any part of Licensor’s Trade Secrets or Confidential Information in violation of the terms of this Agreement. All
information uncovered during the inspection shall be regarded as Confidential Information subject to the protection of Section 8; provided, however, that it may be released or utilized in any disputes resolution proceeding between the parties
without the permission of the Disclosing Party. 

  

	 	8.3	Compelled Disclosure. In the event a receiving Party is required by legal process or applicable law (such as the Federal or Virginia’s or California’s Freedom of Information Acts or other similar
“sunshine” acts or provisions) to disclose such Trade Secrets or Confidential Information, a receiving Party shall provide the disclosing Party with prompt notice of such request or requirement in order to enable the disclosing Party
(a) to seek an appropriate protective or other remedy or (b) to consult with the receiving Party with respect to the disclosing Party’s taking steps to resist or narrow the scope of such request or legal process. The receiving Party
that is subject to the disclosure request or requirement shall always seek to disclose only that portion of the disclosed information that is legally required to be disclosed. 

 

	9.	Patent Marking; Trademarks; Conflict of Interest. 

  

	 	9.1	Patent Marking. Prior to the issuance of a patent on pending or applied for patents licensed hereunder, Licensee shall mark Licensed Products (or their containers or labels) with the words “Patent
Pending.” Following the issuance of one or more patents, Licensee shall mark Licensed Products as set forth in Section 9.2. 

  

	 	9.2	 Patent Notice. Licensee shall place in a conspicuous location on Licensed Products patent notice in
accordance with 35 U.S.C. §287 and in accordance with the applicable 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
laws in each jurisdiction of the Licensed Territory in which the Licensed Products are made, used, sold, offered for sale or Otherwise Disposed Of. Licensee agrees to mark any Licensed Products
with the word “patent” or “pat.” and the number of each applicable licensed patent hereunder, and, with respect to such licensed patents, to respond to any request for disclosure under 35 U.S.C. §287(b)(4)(B) by only
notifying Licensor of the request for disclosure. 

  

	 	9.3	Use of Licensor Names and Trademarks. 

  

	 	9.3.1	Licensee shall not, without the prior written consent of Licensor, identify Licensor in any advertising or other promotional materials to be disseminated to the public or use any trademark, service mark, trade name, or
symbol owned by or associated with Licensor. Notwithstanding the foregoing, Licensee may state that it is licensed by Licensor under one or more of the ODURF patents. 

 

	 	9.3.2	If Licensee also wishes to make any use of the name(s) of Licensor in its promotional or marketing materials, then Licensee shall first submit such materials in writing for approval to Licensor which approval shall not
be unreasonably withheld or delayed. 

  

	 	9.3.3	It is understood that Licensee shall not have the right to use the names of any faculty members, students, employees or agents of Licensor in connection with any sales or promotional activities without the express
written consent of the persons involved. 

  

	 	9.4	Conflict of Interest. Licensee acknowledges and agrees that it will notify Licensor when it enters into any contractual relationship with any employee or group of employees of Licensor and provides compensation
to such individual or group for expertise or work that relates to any rights referenced or licensed under this Agreement. 

  

	10.	Representations, Warranties and Exclusions. As of the respective date of execution by a duly authorized officer, as is hereinafter set forth, ODURF and EVMS each hereby represent and warrant the following:

  

	 	10.1	Title; No Prior or Future Conflicting Licenses. Licensor hereby represents and warrants that Licensor owns all right, title and interest in the Licensed ODURF Patents (except as to the U.S. Government’s
non-exclusive and limited rights in such intellectual property arising from sponsorship of prior research) and during the Term no license or covenant not to sue under any Licensed ODURF Patent, Jointly-Derived ODURF Patents, Licensor-Derived ODURF
Patents or Other ODURF Patents has been or will granted to any third party in the Licensed Field of Use in the Licensed Territory, unless otherwise permitted by the terms of this Agreement. Licensor further represents and warrants that each of the
Licensed ODURF Patents is validly registered with any public authority and is registered in the name of ODURF and no other such and that the public records will demonstrate ODURF as the record owner. The Licensor has obtained from all persons that
were engaged in the development of the Licensed ODURF Patents proper agreements and other documentation that provides that ODURF is the owner of the Licensed ODURF Patents and such persons engaged in the development have no interests in the Licensed
ODURF Patents. 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	10.2	Litigation. Licensor hereby represents and warrants that, as of the Effective Date, it is not aware of any claims or pending or threatened litigation alleging that the Related Know How or subject matter of the
Licensed ODURF Patents infringe on the proprietary rights of any third party, nor does Licensor have any specific reason to suspect that such a claim may be made or litigation instituted. 

 

	 	10.3	Authority. Each Party represents and warrants to the other Parties that such Party has full right, power and authority to enter into this Agreement. 

 

	 	10.4	No Additional ODURF Patents. Licensor hereby represents that as of September 15, 2014 and to the best of its knowledge, Exhibit A contains all patents and patent applications that are owned,
controlled, or sub-licensable by Licensor and that include a claim related to the technologies being licensed under this Agreement. Licensee hereby represents that it has evaluated the technologies, patents and patent applications listed in
Exhibit A and after performing due diligence has decided that it only needs and wants to license the Licensed ODURF Patents listed in Exhibit B. This section is not intended to and does not reduce the scope of the definition of
Licensed Product or the definition of Licensed ODURF Patents. 

  

	 	10.5	Rights and Commitments. Licensor represents that it has, and at all times during the Term will have, all necessary rights and interests in the Licensed ODURF Patents required to grant Licensee the rights and
licenses granted to Licensee hereunder, that it will not commercially practice or permit others to practice the Licensed ODURF Patents in the Licensed Field of Use for commercial purposes, and that it has not made and will not make, any commitments
to third parties that are inconsistent with or in violation of this Agreement. 

  

	 	10.6	Merchantability and Exclusion of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE PARTIES MAKE NO OTHER REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. THERE ARE NO EXPRESS
OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OF VALIDITY OF INTELLECTUAL PROPERTY RIGHTS, ISSUED OR PENDING, OR THAT THE USE OR PRACTICE OF THE LICENSED ODURF PATENTS OR RELATED KNOW-HOW WILL NOT INFRINGE ANY PATENT,
COPYRIGHT, TRADEMARK, OR OTHER RIGHTS OR ANY OTHER EXPRESS OR IMPLIED WARRANTIES. LICENSOR ASSUMES NO RESPONSIBILITIES WHATEVER WITH RESPECT TO DESIGN, DEVELOPMENT, MANUFACTURE, USE, SALE OR OTHER DISPOSITION OF LICENSED PRODUCTS. 

 

	 	10.7	Infringement and Validity. Licensor hereby represents and warrants, to the best of its knowledge, that all Claims in the Licensed ODURF Patents are valid, that no Claim is currently being infringed, and that no
Claim prior to the Effective Date has been infringed. However, the Parties acknowledge that Licensor has not undertaken, and shall not be required to undertake, any outside independent investigation to confirm the accuracy of this representation.

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	10.8	Validity. Except as set forth in Section 10.2, 10.6, and 10.7, nothing in this Agreement shall be deemed to be a representation or warranty by Licensor of the validity of any of the Licensed ODURF Patents.

  

	11.	Limitation of Liability. In no event shall Licensor be liable for personal injury or tangible property damages, whether direct or otherwise, arising out of Licensee’s practice of the Licensed ODURF Patents,
or Licensee’s commercialization of Licensed Products, whether arising from use by Licensee or any third party of the Licensed ODURF Patents or the Licensed Products. In no event shall a Party be liable for lost or prospective profits, special,
incidental, punitive or consequential damages, whether or not a Party has been advised of the possibility of such damages, nor for any claim by a third party against Licensee for such damages. Notwithstanding the provisions of this Section 11,
Licensor is not relieved of any liability for breaches of the terms of this Agreement, including breaches of the warranties and representations made herein. The foregoing limitations of liability and exclusion of certain damages shall apply
regardless of the success of effectiveness of other remedies and regardless of the expiration or termination of this Agreement for any reason. 

  

	12.	Indemnification. Licensee shall indemnify and hold Licensor and its officers, directors, agents and employees harmless from and against any and all costs, expenses, settlements and judgments, including reasonable
attorney’s fees, and costs and expenses incidental thereto, (an “Action”) which may be suffered by, accrued against, charged to or recoverable from the indemnified party or any of its officers, directors, agents or employees, arising
out of any personal injuries, death or tangible property damage liability claim related to the manufacture, distribution or use of any Licensed Product or the practicing of the Licensed ODURF Patents, except to the extent such claim arises out of a
breach of this Agreement by Licensor or out of the gross negligence or willful misconduct of Licensor, its officers, directors, employees or agents. Licensee’s indemnification obligations hereunder shall be subject to (i) receiving prompt
written notice of the existence of any Action; (ii) being able to, at its option, control the defense of such Action and its own expense; (iii) permitting the indemnified party to participate in the defense of any Action; and
(iv) receiving reasonable cooperation of the indemnified parties in the defense thereof. 

  

	13.	Dispute Resolution. 

  

	 	13.1	 Negotiation. In the event of any dispute arising out of or in connection with this Agreement, as a
condition precedent to any further action brought by either Licensor or Licensee against the other, the aggrieved party (“Aggrieved Party”) shall give the other party (the “Non-Aggrieved Party”) written notice of the matter which
the Aggrieved Party considers to be in dispute. The notice will describe the issue in dispute in reasonable detail to apprise the Non-Aggrieved Party about the issue in dispute. Within [*** Confidential] of the receipt of the notice
(“Notice Date”) delivered in accordance with the notice provisions of this Agreement, the Executive Director of the ODURF, the Dean of Research of EVMS or, if none, of the Department involved and the Chief Executive Officer of Licensee
will meet (either telephonically or in person) in an attempt to resolve the dispute. The parties to this Agreement agree that they will make reasonable effort to resolve the dispute within [*** Confidential] of the Notice Date so as to avoid
arbitration as herein provided. If the dispute is not fully settled by 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
negotiation among the parties as provided in this section within the thirty day period, then the condition precedent to arbitration shall be deemed satisfied and the dispute (to the extent not
resolved) may be submitted to arbitration as herein provided. For clarity, any documents, discussions and partial settlements exchanged or agreed upon in the negotiations for settlement of the dispute may be admitted or provided to the arbitrators
as evidence or statement of facts and position in any arbitration. 

  

	 	13.2	Arbitration. Any dispute arising out of or relating to this Agreement, not otherwise resolved, including the interpretation, breach, termination or validity thereof, shall be finally resolved by arbitration in
accordance with the International Institute for Conflict Prevention and Resolution (“CPR”) Rules for Administered Arbitration (“Rules”) by three arbitrators, of whom each party shall designate one, with the third arbitrator to be
designated by the two party-appointed arbitrators. The arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C. §§ 1 et seq. and judgment upon the award rendered by the arbitrators may be entered by any court having
jurisdiction thereof. If the parties do not provide for different notice in respect of any arbitration commenced, then notice under Section 2 of the Rules will be to the persons as provided in Section 13 of this Agreement, otherwise the
balance of Section 2 of the Rules will apply. 

 Notwithstanding anything to the contrary in the Rules, the Licensee and
Licensor agree that the place of arbitration will be in the Clark County, Nevada and each waives any objection to that venue for the arbitration for any action that arises out of the arbitration. The choice of law used in the interpretation of this
Agreement shall be governed by the general laws of the United States with respect to any intellectual property issues and any other issues under this Agreement and, to the extent that such United States law is not clearly defined or is not
applicable, then by the laws of the State of Nevada. 
  

	 	13.3	Sovereign Immunity. Notwithstanding anything to the contrary contained in Section 13.1, nothing in this Agreement, including the use of mediation, shall be construed to waive the sovereign immunity of the
Commonwealth of Virginia or any entities thereof. 

  

	14.	Export Controls. Licensor and Licensee will each comply with all applicable United States or foreign export or import laws and regulations in connection with the licensing of any of the patents and patentable
technology and Related Know How, Sale of the Licensed Products or sub-license of any technology or technical data relating to the Licensed Products. 

  

	15.	Assignment. 

  

	 	15.1	This Agreement, including its rights and obligations, may not be assigned by a Party without the prior written consent of the Licensor. which consent will not be unreasonably withheld or delayed. Notwithstanding the
foregoing prohibition, Licensee may, without the consent of Licensor, merge into, consolidate with, or transfer substantially all of its assets, business or stock to any entity, so long as the successor-surviving entity in any such merger,
consolidation, reorganization or transfer, assumes in writing the Licensee’s obligations of this Agreement and of the related Research Agreement. Such merger, consolidation, reorganization or transfer shall not constitute a breach of this
Article or default under this Agreement. 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	16.	Miscellaneous. 

  

	 	16.1	Severability. The Parties agree that if any part, term, or provision of this Agreement shall be found illegal or in conflict with any valid controlling law, the validity of the remaining provisions shall not be
affected thereby. 

  

	 	16.2	Survival. Sections 2.5, 2.7, 3.2.2, 3.3, 4.4.3, 4.4.4, 4.6, 7.8.1, 8, 10, 11, 12, 13 and 16 shall survive expiration or termination of this Agreement. 

 

	 	16.3	Notices. All notices under this Agreement shall be deemed to have been fully given when done in writing, with reference to this Agreement, and when (a) delivered personally; (b) five (5) days after
having been sent by United States mail, registered or certified, return receipt requested, postage prepaid; or (d) one (1) day after deposit with a nationally recognized commercial overnight carrier, with written verification of receipt.
Communications or notices by other means such as emails, facsimile or email, shall only be effective when received and the sending or notifying party shall have the burden of proving receipt of such communication. All communications will be sent to
the addresses or facsimile numbers set forth below or to such other address as may be designated by a Party by giving written notice to the other Party. 

Old Dominion University Research Foundation 

4111 Monarch Way 
 Norfolk,
Virginia 23508 
 Attention: Executive Director 

Facsimile Number: (757) 683-5290 

Email: 
 Eastern Virginia
Medical School 
 721 Fairfax Avenue 

Norfolk, Virginia 23508 

Attention: President 
 Facsimile
Number: (757) 446-7424 
 Email: 

Chief Executive Officer 

Electroblate, Inc. 
 849 Mitten
Rd. Ste. 104 
 Burlingame, CA 94010 

650-697-3939 tel 
 650-697-3737
fax 
 Email: 
  

	 	16.4	 Public Statements. Neither Party will issue any news release, publicity, advertising or other form of
public announcement relating to this Agreement without the prior written approval of the other Parties which approval shall not be unreasonably withheld 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

	 	
or delayed. Notwithstanding the foregoing, Licensee may make any required public announcement without the prior written approval of any other Party which relates to its business, the terms of
this Agreement, and the patents and Related Know How subject to this Agreement as required by law or determined to be in the best interests of the Licensee to comply with any and all disclosure laws applicable to the Licensee. 

 

	 	16.5	Entire Agreement, Amendment. This Agreement, along with the referenced Research Agreement and other agreements referred to herein, represents the entire understanding between the Parties, and supersedes all other
agreements, express or implied, among the Parties concerning the subject matter hereof. A provision of this Agreement may be altered or amended only by a writing signed by the Parties. 

 

	 	16.6	Waiver. No waiver by a Party of any breach of this Agreement, no matter how long continuing or how often repeated, shall be deemed a waiver of any subsequent breach thereof, nor shall any delay or omission on the
part of a Party to exercise any right, power, or privilege hereunder be deemed a waiver of such right, power or privilege. 

  

	 	16.7	No Agency. The relationship among the Parties is that of independent contractors. Except as otherwise stated herein, neither Party shall be deemed to be an agent of the other in connection with the exercise of
any rights hereunder, and neither shall have any right or authority to assume or create any obligation or responsibility on behalf of the other. 

  

	 	16.8	Construction. This Agreement shall not be construed more strictly against a Party than any other by virtue of the fact that it may have been prepared by counsel for one of the Parties, it being recognized that
all Parties have contributed substantially and materially to the preparation of this Agreement. 

  

	 	16.9	Counterparts. This Agreement may be executed simultaneously in more than one counterpart, and each of which shall be deemed an original, but all of which together shall constitute one (1) and the same
instrument. The Agreement will be considered executed when original signatures have been exchanged or when signatures have been exchanged via facsimile or electronic transmission, including, without limitation, signatures delivered in portable
document format (pdf). 

  

	 	16.10	Headings. The headings of the several sections are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 

IN WITNESS WHEREOF the parties have caused this Agreement to be executed by their duly authorized officers on the respective dates hereinafter
set forth. 
  

											
	OLD DOMINION UNIVERSITY RESEARCH FOUNDATION	 	EASTERN VIRGINIA MEDICAL SCHOOL
				
	By:	 	/S/ Julian F. Fachende	 	By:	 	/S/ Mark Babashanian
				
	Its:	 	Executive Director	 	Its:	 	V.P. For Administration and Finance

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

							
	Dated: 10-1-2014	 	Dated: 9-30-2014
	
	ELECTROBLATE, INC.(“Licensee”)
	
	By: /S/ Christopher A. Marlett
		 	Christopher A. Marlett
	Its:	 	President
	Dated:	 	11-6-2014

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

 EXHIBIT A 

List of ODURF’s patents related to Intracellular Electro-manipulation Technology as of September 15, 2014 

 

							
	 ODU Ref

#
	  	 Technology Title
	 	 Patent/Application Number
	 	 Country

	99005	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	03001	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	05006	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

							
	06002	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	06003	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	07004	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	07018	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	07020	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	07021	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	09013	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	10001	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	10010	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	10015	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

							
	10022	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	11014	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	11017	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	12026	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	04014	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	08015 / 13010	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	13022	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	14077	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]

 EXHIBIT B 

LICENSED ODURF PATENT(S) 
  

							
	 ODU Ref #
	  	 Technology Title
	 	 Patent/Application

Number
	 	 Country

	99005	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

							
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	03001	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	05006	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	06002	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	06003	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	07004	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

							
	07018	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	07020	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	07021	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	09013	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	10001	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	10010	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	10015	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	10022	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	11014	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
				
	11017	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	12026	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
				
	04014	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

							
	08015 / 13010	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
		  		 	[*** Confidential]	 	[*** Confidential]
	13022	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]
	14077	  	[*** Confidential]	 	[*** Confidential]	 	[*** Confidential]

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

 EXHIBIT C 

Mandatory Performance Milestones 
  

	•	 	Execution of a research agreement (the Research Agreement defined in the License Agreement) with ODURF (Reidy Institute) 

  

	•	 	Management/BOD identified by [*** Confidential]  

  

	•	 	Submission of business plan to BOD by [*** Confidential] 

  

	•	 	At least $[*** Confidential] private funding raised by [*** Confidential] 

  

	•	 	Either [*** Confidential] registration statement or [*** Confidential] by [*** Confidential] 

  

	•	 	Submission of an FDA application, and, to the extent practical, one or more appropriate applications for any related technologies, by December 15, 2018. 

  
 [*** Confidential] indicates
material omitted and subject to a confidential information request, which has been filed separately with the SEC. 

 Exhibit D: Research Agreement 

SPONSORED RESEARCH AGREEMENT 

This Agreement is made by and between Old Dominion University Research Foundation, a Virginia non-profit corporation with principal offices in
Norfolk, Virginia and under contract with Old Dominion University to perform certain administrative and fiscal functions, hereinafter referred to as the “FOUNDATION,” and Electroblate, Inc., a Nevada corporation with its principals offices
in Santa Monica, CA, hereinafter referred to as the “SPONSOR” (each a “Party”, and collectively, the “Parties”). 

RECITALS 
  

	A.	THE FOUNDATION is pursuing research related to the use of sub-microsecond pulsed electric field technology for bio-medical applications (the “Research Activity”). 

 

	B.	SPONSOR is willing to sponsor the Studies (as defined below) within the Research Activity. 

  

	C.	SPONSOR desires to obtain certain rights to intellectual property resulting from the research pursuant to a separate intellectual property license agreement. 

 

	D.	FOUNDATION is willing to grant certain rights to intellectual property that result from the Research Activity and other research not funded by SPONSOR, in accordance with a separate, yet related, intellectual property
license agreement by and between SPONSOR, FOUNDATION, and Eastern Virginia Medical School (the “Intellectual Property Agreement”). 

NOW THEREFORE, in consideration of the mutual covenants and promises herein made, FOUNDATION and SPONSOR agree as follows: 

 

	1.	EFFECTIVE DATE AND SCOPE OF AGREEMENT 

 a. This Agreement shall be entered into and effective
for one (1) year upon full execution of both parties (the “Effective Date”) unless extended by mutual agreement, in writing, or terminated as provided in Article 12 of this Agreement. Notwithstanding the forgoing, the concurrent
execution and delivery of the Intellectual Property Agreement by SPONSOR, FOUNDATION, and Eastern Virginia Medical School is a necessary condition to the Parties’ execution and delivery of this Agreement. 

b. The Parties intend for this Agreement to allow them to contract multiple studies (each a “Study”, and collectively, the
“Studies”) associated with the Research Activity through the issuance of “Task Orders” (as defined in Section 2) without having to renegotiate the basic terms and conditions set forth herein. 

  
 Page 1 

 c. SPONSOR understands that FOUNDATION’S primary mission is education and advancement of
knowledge and the Studies will be designed to carry out that mission. 
 d. The Studies will be supervised by Richard Heller, Ph.D. (the
“Principal Investigator”) on behalf of the FOUNDATION. The Principal Investigator may be changed only upon the mutual agreement of FOUNDATION and SPONSOR, which change has to be agreed upon with ninety (90) days of any notice that the
then Principal Investigator is not continuing in such position and which replacement Principal Investigator is provided by the FOUNDATION on a full time basis within one hundred twenty (120) days of the foregoing notice. If, (a) for any
reason, the Principal Investigator is unable to continue to serve as Principal Investigator and there is no agreed upon replacement, or (b) there is a substantial change in the personnel under the direction of the Principal Investigator during
any three month period during the term of this Agreement such that the Principal Investigator is unable to adequately conduct any SPONSOR funded Studies, or (c) the FOUNDATION for any other reason is unable to fulfill its obligations pursuant
to this Agreement or adequately conduct any SPONSOR funded Studies, then this Agreement may be terminated as provided in Article 12 by SPONSOR. 

e. FOUNDATION shall use its reasonable best efforts to fulfill its obligations pursuant to this Agreement, but cannot and does not guarantee
specific research outcomes. 
 f. SPONSOR understands that FOUNDATION may be involved in similar research through other researchers on
behalf of itself and others. FOUNDATION shall be free to continue such research provided that such research is conducted separately, no funding from the SPONSOR is utilized, and SPONSOR limits the dissemination of information related to the Studies
to those members of SPONSOR’s faculty, students, and staff who are authorized to work on the Studies in accordance with the Task Orders. SPONSOR shall not gain any rights to the results of such other research that are unrelated to the Studies
except as provided in the Intellectual Property Agreement. 
 g. FOUNDATION does not guarantee that any intellectual property rights will
result from the Studies, that the scope of any intellectual property rights will cover SPONSOR’s commercial interest and be subject to the Intellectual Property Agreement, or that any patent rights will not interfere with the patents rights of
others outside of the scope of this Agreement and the Intellectual Property Agreement, including those based on inventions made by other inventors in FOUNDATION. 
  

	2.	TASK ORDERS AND COMPENSATION 

 a. The specific details of each Study under this Agreement shall
be separately negotiated by the Parties and specified in writing, on terms and in a form mutually acceptable to the Parties (each such writing, a “Task Order”). Each Task Order will include the specific aims and a list of experiments
proposed to accomplish those aims, along with a time line, budget (“Budget”) and payment schedule for such Study. A Task Order template is attached hereto as Appendix A, a Statement of Work template is attached hereto as Appendix B, and a
Budget template is attached hereto as Appendix C. Each Task Order shall be accompanied by a specific Statement of Work and Budget following these templates as mutually agreed by the Parties. 

  
 Page 2 

 
Each of the forms of Appendices are part of this Agreement and each of the Task Orders, Statements of Work and Budges when completed for a Study will become a part of this Agreement. If any
amount of a Budget is not used for a Task Order, the excess amount will be returned to SPONSOR or upon the SPONSOR’s written agreement applied to any other Task Orders that are then in progress. 

b. FOUNDATION shall conduct each Study covered by each mutually-agreed upon Task Order in accordance with the terms and conditions of such
Task Order, Statement of Work, and Budget. Each mutually-agreed upon Task Order, Statement of Work, and Budget shall be deemed to be a part of this Agreement; provided that, to the extent any terms or provisions of a Task Order, Statement of Work,
or Budget conflict with the terms and provisions of this Agreement, the terms and provisions of this Agreement shall control, except to the limited extent that the applicable Task Order, Statement of Work, or Budget expressly and specifically states
an intent to supersede this Agreement on a specific matter. 
 c. FOUNDATION will be compensated by SPONSOR for its conduct of each Study in
accordance with the Budget and payment terms set forth in the applicable Task Order provided that on a cumulative basis all the Studies shall provide for a minimum of one million dollars ($1,000,000) in total payments from the SPONSOR to the
FOUNDATION for each twelve (12) month period or pro-rata portion thereof for a period of less than twelve (12) months immediately preceding the first sale of stock by SPONSOR to the general public (“Initial Public Offering” or
“IPO”). Each payment from the SPONSOR to the FOUNDATION shall be made within thirty (30) days of receipt by the SPONSOR of a payment request from the FOUNDATION certifying, to the SPONSOR’s reasonable satisfaction, that the
FOUNDATION has met its obligations pursuant to the specified Task Order and Statement of Work. The Principal Investigator may transfer funds within the budget as needed without SPONSOR’s approval so long as the obligations of the FOUNDATION
under the Task Order and Statement of Work remain unchanged and unimpaired. 
 d. FOUNDATION shall retain title to all equipment purchased
and/or fabricated by it with funds provided by SPONSOR under this Agreement. 
  

	3.	COMMUNICATION AND REPORTS 

 a. SPONSOR’s designated representative for communications with
the Principal Investigator initially will be Richard Nuccitelli, Ph.D., Chief Scientific Officer of SPONSOR or any other person SPONSOR may designate in writing to FOUNDATION and the Principal Investigator (“Designated Representative”).

 b. The Principal Investigator will provide SPONSOR with quarterly reports outlining the progress of the Study during the period of the
Study and notwithstanding any termination of this Agreement. In addition, during the periods set forth in the preceding sentence, the Principal Investigator or the SPONSOR can request a video conference between Sponsor and participating scientists
in the Foundation at which the research efforts can be discussed and problems brainstormed. Within 30 days after the completion of a Task Order, a complete report summarizing the findings shall be submitted to the Sponsor along with publication
plans. The Principal Investigator shall also submit a comprehensive final report within thirty (30) days after termination of the Agreement. 

  
 Page 3 

	4.	PUBLICATION 

 a. SPONSOR recognizes the importance of communicating research data and,
therefore, encourages their publication in reputable scientific journals and at seminars or conferences. SPONSOR further acknowledges that FOUNDATION is an academic institution and has as part of its mission the publication of research results
without approval or editorial control by any sponsoring company, regardless of the Study’s outcome. Any results of the Study and manuscripts thereon shall be exchanged and discussed by the Principal Investigator and SPONSOR prior to submission
for publication and shall be subject to any obligations or limitations set forth in the Intellectual Property Agreement. 
 b. Any proposed
publications which are to make public any findings, data, or results of the Study shall be submitted to SPONSOR for SPONSOR’s review and comment at least forty five (45) days prior to submission of a manuscript for publication, or at least
fourteen (14) days prior to submission for an abstract. If SPONSOR reasonably determines that the proposed publication contains patentable subject matter, including proprietary know-how, that requires protection, SPONSOR may require the delay
of publication for a period of time not to exceed ninety (90) days for the purpose of filing patent applications by notifying FOUNDATION or, in the case of proprietary know-how, publication of such know-how shall be delayed until it becomes,
through no fault of the Parties, either generally known to the public or no longer of economic value to the SPONSOR. If no written response is received from SPONSOR within the applicable review period, it may be conclusively presumed that
publication may proceed without delay. 
  

	5.	CONFIDENTIAL INFORMATION 

 a. The parties may wish to disclose confidential information to each
other in connection with work contemplated by this Agreement (“Confidential Information”). Each party will use reasonable efforts to prevent the disclosure of the other party’s Confidential Information to third parties for a period of
five (5) years after the termination of this Agreement, provided that the recipient party’s obligation shall not apply to information that: 

i. is already in the recipient party’s possession at the time of disclosure; 

ii. is or later becomes part of the public domain through no fault of the recipient party; 

iii. is received from a third party having no obligations of confidentiality to the disclosing party; 

iv. is independently developed by the recipient party; or 

v. is required by law, administrative or judicial order to be disclosed. 

b. In the event that information is required to be disclosed pursuant to subsection (v), the party required to make disclosure shall notify
the other to allow that party to assert whatever exclusions or exemptions may be available to it under such law or administrative or judicial regulation. 

  
 Page 4 

	6.	INTELLECTUAL PROPERTY RIGHTS 

 a. Ownership of Existing Technology: 

“Existing Technology” refers to any existing inventions and discoveries of SPONSOR and FOUNDATION developed prior to the date of
this Agreement. Unless provided otherwise by the Intellectual Property Agreement, Existing Technology shall remain the separate property of SPONSOR or FOUNDATION after the date of their Agreement, whether or not protected by patent or other
intellectual property rights. Neither party shall have any claims to or rights in such “Existing Technology” of the other party pursuant to this Agreement, but the claims and rights of either party remain subject to the terms of the
Intellectual Property Agreement. 
 b. All other intellectual property rights and obligations of the FOUNDATION and SPONSOR shall be defined
and determined by the Intellectual Property Agreement. 
  

	7.	[RESERVED] 

  

	8.	LIABILITY 

 Each party (the “Indemnifying Party”) shall indemnify, defend, and hold
harmless the other party (the “Indemnified Party”), its employees, agents, officers, directors, affiliated entities and representatives from and against any and all damages, costs, penalties and expenses, including reasonable
attorneys’ fees, incurred by the Indemnified Party in connection with third-party claims, suits, actions, investigations, proceedings, which may arise or result (i) by reason of the Indemnifying Party’s act or omission, whether
negligent, willful or otherwise culpable, in the performance or failure to perform its duties pursuant to this Agreement; or (ii) as a result of the Indemnifying Party’s violation of federal, state or local statutes, laws or regulations.
The indemnity obligations contained herein are contingent upon the Indemnified Party giving the Indemnifying Party prompt written notice of any such claim, full cooperation in the defense of any such claim, and the assignment of the right to defend
against any such claim with counsel of the Indemnifying Party’s choosing and to settle and/or compromise any such claim as the Indemnifying Party deems appropriate. The obligations under this provision shall survive the termination of this
Agreement. 
  

	9.	EXPORT CONTROLS 

 It is understood that FOUNDATION is subject to United States laws and
regulations controlling the export of technical data, computer software, laboratory prototypes and other commodities (such laws include the Arms Export Control Act, as amended and the Export Administration Act), and that its obligations hereunder
are contingent on compliance with applicable United States export laws and regulations. The transfer of certain technical data and commodities by either Party may require a license from the cognizant agency of the United States Government and/or
written assurances by the Parties that the Parties shall not export data 

  
 Page 5 

 
or commodities to certain foreign countries without prior approval of such agency. Neither Party shall engage in any activity in connection with this Agreement that is in violation of any
applicable U.S. law. 
  

	10.	COMPLIANCE WITH REGULATIONS 

 FOUNDATION will conduct the Studies in accordance with application
provisions of the U.S. Code of Federal Regulations (CFR), state and local regulations, and, with regard to clinical studies, will further comply with the CFR Good Clinical Practice Guidelines (“GCPs”) and the International Conference on
Harmonization (ICH) guidelines. The FOUNDATION will use reasonable efforts to conduct the Studies according to the protocol and to deliver all related documents to the SPONSOR according to the provisions of this agreement. The FOUNDATION is
responsible for ensuring compliance of the Studies to all applicable FDA and other regulations. 
 The FOUNDATION will permit, at reasonable
intervals and times, inspection of the research facilities and all related documentation and data. Such inspections may be conducted by representatives of the U.S. Food and Drug Administration (“FDA”), or representatives of the SPONSOR.

  

	11.	INDEPENDENT CONTRACTOR 

 For the purposes of this Agreement and all services to be provided
hereunder, the parties are independent contractors and not agents or employees of the other party. Neither party shall have authority to make any statements, representations, or commitments of any kind, or to take any action which shall be binding
on the other party, except as expressly provided herein or authorized in writing. Notwithstanding the foregoing, the activities performed under this Agreement by FOUNDATION, will be deemed to be “work for hire” for SPONSOR. 

 

	12.	TERM AND TERMINATION 

 a. Either party may terminate this Agreement at any time upon thirty
(30) days written notice to the other party. 
 b. SPONSOR may terminate this Agreement immediately as of the date of the post mark or
delivery to a courier of written notice of termination to the FOUNDATION if there is a change in the Principal Investigator who is not acceptable to SPONSOR or there is a substantial change in the personnel under the direction of the Principal
Investigator in accordance with Section 1.d. 
 c. In the event that either party shall be in default of its material obligations under
this Agreement and shall fail to remedy such default within thirty (30) days after receipt of written notice thereof, this Agreement shall terminate upon expiration of the thirty (30) day period. 

d. Termination or cancellation of this Agreement shall not affect the rights and obligations of the parties actually accrued prior to
termination. Upon termination, SPONSOR shall pay FOUNDATION for all reasonable expenses (including supplies, salaries and equipment) actually incurred (but not committed or contemplated) as of the effective termination date, including salaries for
appointees for the remainder of their appointment. 

  
 Page 6 

 e. Sections 3, 4, 5, 6, 8, 9, 10, 11, 12, and 13 of this Agreement shall survive its termination.
Additionally, any of the relevant provisions for the carrying out of Studies under Task Orders, Statements of Work and Budgets that continue after the termination of this Agreement will not be terminated until such time as the Studies are completed,
provided that (i) the Intellectual License Agreement continues in full force and effect and that license agreement is not subject to any notice of termination or cancellation or is not otherwise terminated, other than for breach by SPONSOR or
for the convenience of SPONSOR, (ii) this Agreement has not been terminated by the FOUNDATION pursuant to Section 12.a, (iii) this Agreement has not been terminated by SPONSOR pursuant to Section 12.b, or (iv) this Agreement
has not been terminated by SPONSOR pursuant to Section 12.c due to a breach by FOUNDATION. 
  

	13.	GENERAL 

 a. This Agreement may not be assigned by either party without the prior written
consent of the other party; provided, however, that SPONSOR may assign this Agreement to any purchaser or transferee of all or substantially all of SPONSOR’s assets or stock upon prior written notice to FOUNDATION, and FOUNDATION may assign its
right to receive payments hereunder. 
 b. Any notice required by this Agreement shall be given by prepaid, first class, certified mail,
return receipt requested, or by a courier or hand delivery service (such as messenger or Federal Express) where the delivery is signed for by the recipient and recorded by the service, addressed in the case of FOUNDATION to: 

Notices regarding Agreement: 
 FOUNDATION 

Julian F. Facenda 
 Executive Director 

P.O. Box 6369 
 Norfolk, VA 23508 

Telephone: 757.683.7210 
 Fax: 757.683.5290 

Email: jfacenda@odu.edu 
 Notices regarding Technical
Information: 
 As set forth in applicable Task Order 

or in the case of SPONSOR to: 
 Notice regarding Agreement: 

Chief Executive Officer 
 Electroblate, Inc. 

849 Mitten Rd. Ste. 104 
 Burlingame, CA 94010 

650-697-3939 tel 
 650-697-3737 fax 

Notices regarding Technical Information: 
 As set
forth in applicable Task Order 

  
 Page 7 

 c. In the event of any dispute arising out of or in connection with this Agreement, as a
condition precedent to any further action brought by either FOUNDATION or SPONSOR against the other, the aggrieved party (“Aggrieved Party”) shall give the other party (the “Non- Aggrieved Party”) written notice of the matter
which the Aggrieved Party considers to be in dispute. The notice will describe the issue in dispute in reasonable detail to apprise the Non- Aggrieved Party about the issue in dispute. Within seven (7) days of the receipt of the notice
(“Notice Date”) delivered in accordance with the notice provisions of this Agreement, the Executive Director of the FOUNDATION and the Chief Executive Officer of SPONSOR will meet (either telephonically or in person) in an attempt to
resolve the dispute. The parties to this Agreement agree that they will make reasonable effort to resolve the dispute within twenty (20) days of the Notice Date so as to avoid arbitration as herein provided. If the dispute is not fully settled
by negotiation among the parties as provided in this section within the thirty day period, then the condition precedent to arbitration shall be deemed satisfied and the dispute (to the extent not resolved) may be submitted to arbitration as herein
provided. For clarity, any documents, discussions and partial settlements exchanged or agreed upon in the negotiations for settlement of the dispute may be admitted or provided to the arbitrators as evidence or statement of facts and position in any
arbitration. 
 Any dispute arising out of or relating to this Agreement, not otherwise resolved through negotiation, including the
interpretation, breach, termination or validity thereof, shall be finally resolved by arbitration in accordance with the International Institute for Conflict Prevention and Resolution (“CPR”) Rules for Administered Arbitration
(“Rules”) by three arbitrators, of whom each party shall designate one, with the third arbitrator to be designated by the two party- appointed arbitrators. The arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C.
§§ 1 et seq., and judgment upon the award rendered by the arbitrators may be entered by any court having jurisdiction thereof. If the parties do not provide for different notice in respect of any arbitration commenced, then notice under
Section 2 of the Rules will be to the persons as provided in Section 13 of this Agreement, otherwise the balance of Section 2 of the Rules will apply. 

Notwithstanding anything to the contrary in the Rules, the SPONSOR AND FOUNDATION agrees that if it commences arbitration, the place of
arbitration will be in Clark County, Nevada and each waives any objection to the venue for the arbitration and for any action that arises out of the arbitration. The interpretation of this Agreement shall be governed as to 

  
 Page 8 

 
validity, interpretation, construction, effect and in all other respects by the laws of the United States and if such United States law is not defined or applicable, then by the internal laws of
the State of Nevada. 
 d. Unless otherwise specified, this Agreement and its Attachments embody the entire understanding between the
FOUNDATION and the SPONSOR for the Research, and any prior or contemporaneous representations, either oral or written, are hereby superseded. No amendments or changes to this Agreement, including without limitation, changes in the statement of work,
total estimated cost, scheduled dates for reports or deliverables, and period of performance, shall be effective unless made in writing and signed by authorized representatives of the parties. Notwithstanding the foregoing, the licensing of any of
the results of the Research Activity and in respect of any other intellectual property of or relating to the FOUNDATION and certain funding requirements are embodied in that certain Intellectual License Agreement among the FOUNDATION, and EASTERN
VIRGINIA MEDICAL SCHOOL and SPONSOR. 
 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized
representatives. 
  

	
	SPONSOR
	
	DocuSigned by:
	
	
	 /s/ Christopher A. Marlett

	By: Christopher A. Marlett
	Title: President
	
	Date: 11/6/2014
	
	FOUNDATION
	
	 /s/ Julian F. Facenda

	By: Julian F. Facenda
	Title: Executive Director
	
	Date November 6, 2014

  
 Page 9 

 Appendix A 

TASK ORDER #      

This Task Order is issued pursuant to the Sponsored Research Agreement (the “Agreement”), dated as of
                     by and between, Old Dominion University Research Foundation, a Virginia non-profit corporation with principal offices in
Norfolk, Virginia and under contract with Old Dominion University to perform certain administrative and fiscal functions (“FOUNDATION”) and Electroblate, Inc. (“SPONSOR”). 

Any capitalized terms not otherwise defined herein shall have the same meaning ascribed to them in the Agreement. 

Statement of Work: 
 The Statement of Work is
attached hereto as Schedule 1. 
 Principal Investigator: 

The Principal Investigator will be Dr. Richard Heller, Professor, Medical Laboratory and Radiation Services, College of Health Sciences at 4211 Monarch
Way, Norfolk, VA 23508. Correspondence to Investigator can be addressed to the following: 
 Dr. Richard Heller 

Director, Bioelectrics 
 Professor, Medical Diagnostics and
Translational Sciences 
 Frank Reidy Research Center for Bioelectrics 

4211 Monarch Way 
 Norfolk, VA 23508 

Email: rheller@odu.edu 
 Telephone: 757.683.2690 

Fax: 757.451.1010 
 SPONSOR’s Contact: 

Correspondence to SPONSOR can be addressed to the following: 

Richard Nuccitelli 
 Chief Scientific Officer 

Electroblate, Inc. 
 849 Mitten Rd. Ste. 104 

Burlingame, CA 94010 
 650-697-3939 tel 

650-697-3737 fax 

  
 Page 10 

 Period of Performance: 

The Period of Performance of the task order is from
                     to                     
(“Period of Performance”) 
 Study Budget and Payment Terms 

The Study Budget is attached hereto as Schedule 2 and incorporated herein by this reference. 

SPONSOR shall pay FOUNDATION twenty-five percent (25%) of the fixed Budget for a Study in the aggregate amount of
$         for the performance of the Research Activity within ten (10) working days of the commencement of the Period of Performance. SPONSOR shall pay FOUNDATION the remaining seventy-five percent
(75%) of the fixed Budget for a Study in fixed monthly installments equal to the number of months remaining in the Period of Performance after the first month of the Period of Performance, payable at the beginning of each month during the
Period of Performance. FOUNDATION shall not initiate the Study Schedule until payment is received. While it is estimated that this amount is sufficient to perform the services, FOUNDATION may submit to the SPONSOR a revised budget requesting
additional funds. The SPONSOR is not liable for any costs in excess of the amount specified herein without written authorization from the SPONSOR. Subject to the funding obligations of the SPONSOR in the Research Agreement, if any amount of the
budget is not used for the Research Activity, the amount will be returned to SPONSOR or upon the SPONSOR’s agreement applied to any other Studies. 

This Work Order is entered into and made effective after signature of both parties (“Effective Date”). 

 

									
	Accepted and Agreed to by:	 		 	
			
	SPONSOR	 		 	FOUNDATION
			
	  
	 		 	  

	Signature	 		 	Signature
				
	Name:	 		 	Name:	 	Julian F. Facenda
	Title:	 		 	Title:	 	Executive Director
					
	Date:	 	  
	 		 	Date:	 	  

			
		 		 	Acknowledged by (but not a signatory)
			
		 		 	Principal Investigator
			
		 		 	Dr. Richard Heller
				
		 		 	Date:	 	  

  
 Page 11 

 Appendix B 

Task Order # Statement of Work 
  

			
	Title:	 	  

	
	Rationale:
	
	  

	
	Research Plan:

  
 Page 12 

 Appendix C 

Task Order # Budget 
 Personnel 

 

							
	Name	  	Role	  	% effort	  	Amount
		  		  		  	
		  		  		  	
		  		  		  	

  
 Page 13

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