Document:

License Agreement between the Company and the Dana-Farber Cancer Institute

 Exhibit 10.1 
 Agreement no. 3899 
 LICENSE AGREEMENT 
 This agreement, effective as of October 1st, 2009 (“Effective Date”), is between the Dana-Farber Cancer Institute, Inc., a Massachusetts
non-profit organization having a principal place of business at 44 Binney Street, Boston, Massachusetts, 02115 (“DFCI”) and Transgenomic, Inc., a Delaware corporation having a principal place of business at 12325 Emmet Street, Omaha,
Nebraska 68164 (“Licensee”). 
 Background 
 DFCI is the owner of certain rights in technology as later defined, subject only to a royalty-free, nonexclusive license previously granted to the United States Government; and 
 DFCI desires to have the rights used to promote the public interest by granting a license; 
 Licensee has represented to DFCI that it has the capabilities and/or experience to develop, produce, market and sell products utilizing
technology that is similar to the technology that is the subject of this Agreement and has the financial capacity and the strategic commitment to facilitate the transfer of the technology for the public interest; and 
 Licensee desires to obtain a license to DFCI’s rights and DFCI is willing to grant a license upon the terms and conditions of this
Agreement. 
 DFCI and Licensee therefore agree as follows. 
 Article 1 – Definitions 
  

	1.1	“Agreement” means this License Agreement, including all attached schedules. 

  

	1.2	“Affiliate” means any company, corporation or other business entity that is controlled by, controlling, or under common control with Licensee. For this
purpose “control” means direct or indirect beneficial ownership of at least fifty percent (50%) interest in the voting stock (or the equivalent) of the company, corporation or other business or having the right to direct, appoint or
remove a majority of members of its board of directors (or their equivalents) or having the power to control the general management of the company, corporation or other business, by law or contract. 

  

	1.3	“Field of Use 1” means use of the Licensed Technology to make, have made, use, develop, and sell Licensed Products and Licensed Services in the areas of
mutation detection using DHPLC, Surveyor-endonuclease-based mutation detection, and second generation sequencing techniques, for all research, diagnostic, prognostic and therapeutic uses in humans, animals, viruses, bacteria, fungi, plants or
fossilized material. 

  

	1.4	“Field of Use 2” means use of the Licensed Technology to make, have made, use, develop, and sell Licensed Products and Licensed Services in the areas of
mutation detection using Sanger (di-deoxy) sequencing and mitochondrial DNA analysis for all research, diagnostic, prognostic and therapeutic uses in humans, animals, viruses, bacteria, fungi, plants or fossilized material. 

*The Fields of Use shall specifically exclude use of the Licensed Technology in the Fields of Mass Spectrometry and Real-Time PCR.

  

	1.5	“First Commercial Sale” means the initial transfer of Licensed Product and Licensed Services by or on behalf of Licensee, an Affiliate or Sublicensee for cash
or non-cash consideration to which a fair market value can be assigned for purposes of determining Net Sales, and in any event excludes any transfer for development, research, investigation, trial or evaluation purposes. 

  

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	1.6	“Licensed Products and/or Licensed Services” means any product, service or process 1) the manufacture, use, sale, or offer for sale of which would constitute
an infringement of any Valid Claim in any unexpired patent or patent application included within the Patent Rights; or 2) which is made or developed through the use of Technical Information. 

  

	1.7	“Licensed Technology” means Patent Rights, or Technical Information, individually or collectively. 

  

	1.8	“Net Sales” means the gross income derived by an entity licensed under this Agreement from the sales of Licensed Products and/or Licensed Services to
independent third party customers in bona-fide arms-length transactions less the following deductions, which may not exceed reasonable and customary amounts in the country in which the transaction occurs: 

  

	 	(a)	Transportation charges or allowances actually paid or granted; 

  

	 	(b)	Trade, quantity, cash or other discounts and brokers’ or agents’ commissions, if any, actually allowed and taken; 

  

	 	(c)	Credits or allowances made or given on account of rejects, returns, or retroactive price reductions for any amount not collected that are specifically identifiable to
Licensed Products; 

  

	 	(d)	Any tax or governmental charge directly on sale or transportation, use or delivery of products paid by a licensed entity and not recovered from the purchaser.

 Net Sales includes the fair market value of any non-cash consideration from sale of Licensed Products received
by Licensee, its Affiliates or Sublicenses. 
 Notwithstanding the foregoing, in the event, that Licensee, its Affiliates or
Sublicensees employ Distributors for the sale of Licensed Products, Net Sales shall be based on Licensee’s, Affiliate’s or Sublicensee’s initial sale of Licensed Products to the Distributor. 
 In the event that Licensee, its Affiliates, or Sublicensees sell Licensed Product to a clinical laboratory under a reagent rental program,
then “Net Sales” shall be calculated based on the price of the reagent kit containing the Licensed Product to the clinical laboratory (the reagent kit price is generally a component of what is usually termed the ‘reagent rental
price’), and any income received based on the laboratory’s use of the reagent kit eg. income that is tied to the number of patient reportable results, minus the following: any fees or payments included in the reagent rental price that are
added to the reagent kit pricing for the purchase of an associated instrument system, lease payments for the system, interest payments or fees for the instrument, service contract fees for the instrument(s), warranty fees or other associated
hardware pricing needed to perform the assay employing the Licensed Products. 
 Licensed Products and Licensed Services are
considered “sold” when billed, invoiced, or payment is received, whichever occurs first. 
  

	1.9	 “Patent Rights” means the PCT patent application entitled “Enrichment of a Target Sequence” PCT/US2008/009248 filed July 31
st 2008, with a priority date of August 1st, 2007, and any conversion, continuation, division, or substitution
thereof, any patents issuing thereon, any reissues, reexaminations or extensions of the patents and any foreign counterparts of the patent applications and patents aswell as any previous provisional patent applications. Patent Rights does not
include continuation-in-part applications. 

  

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	1.10	“Sale” or “Sold” means any grant, sale, lease, assignment, transfer, conveyance or other disposition of Licensed Products or Licensed Services for
value by or on behalf of Licensee, any Affiliate(s) or Sublicensee(s). 

  

	1.11	“Sublicensee” means any natural person or legal entity, which is not an Affiliate or Distributor, to which Licensee grants a sublicense of some or all of the
rights granted to Licensee under this Agreement. 

  

	1.12	“Technical Information” means Any and all research data, designs, formulae, process information and other information Dr. Mike Makrigiorgos, or a
researcher in his laboratory at DFCI that is supervised by Dr Makrigiorgos, may have provided or may provide to Licensee on a non-exclusive basis, that is owned by DFCI and was developed by Dr Makrigiorgos or his laboratory personnel while
performing research directly related to the Patent Rights, that falls under the domain of the Patent Rights, that is not exclusively obligated to any other party, that is necessary for practicing the Licensed Technology or useful in researching,
developing, making and or using any Licensed Products. 

  

	1.13	“Territory” means worldwide. 

  

	1.14	“Valid Claim” means any claim of any Patent Right that has not been (i) finally rejected or declared invalid by a patent office or court of competent
jurisdiction in any unappealed and unappealable decision. 

  

	1.15	“Distributor” means an entity contracted by Licensee, its Affiliates or Sublicensees for the purpose of selling Licensed Products to third-party end-users.

 Article 2 – Grant of Licenses, Reserved Rights and Sublicensing 
  

	2.1	License Grants. Subject to all of the terms and conditions of this Agreement and the non-exclusive license granted to the United States government, DFCI
hereby grants to Licensee the following rights to the Licensed Technology: i) an exclusive license with the right to grant sublicenses, to make, have made, use, offer to sell, sell and import Licensed Products and Licensed Services in the Territory
for the Field of Use 2.; and ii) a non-exclusive license to make, have made, use, offer to sell, sell and import Licensed Products and Licensed Services in the Territory for the Field of Use 1. 

 The licenses will continue in perpetuity unless the grant is sooner terminated according to Article 8. 
  

	2.2	Affiliates. Licensee is entitled to extend its licenses under this Article 2 to its Affiliates, consistent with all of the terms and conditions of this
Agreement. If Licensee does extend its licenses and an Affiliate assumes obligations under the Agreement, Licensee guarantees performance by the Affiliate. If DFCI has a claim arising under this Agreement against an Affiliate, DFCI may seek a remedy
directly against Licensee and may, but is not is not required to, seek a remedy against the Affiliate. Any termination of the Agreement under Article 8 as to Licensee also constitutes termination as to any Affiliates. 

  

	2.3	No Implied Licenses. This Agreement confers no license or rights by implication, estoppel or otherwise under any other patent applications or patents owned in
whole or in part by DFCI. 

  

	2.4	Reserved Rights. The licenses granted by DFCI are subject to the following reserved rights. 

  

	 	2.4.1	The rights of the United States of America, as set forth in Public laws 96-517 and 98-620, the regulations promulgated thereunder, and the policy of any funding
agencies. Any rights granted hereunder, which are greater than permitted by Public Laws 96-517 and 98-620, are subject to modification as required to conform to the provisions of those statutes. 

  

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	 	2.4.2 	DFCI’s right to make and use the Licensed Technology in both Field of Use 1 and Field of use 2. for teaching, education and research purposes, both laboratory and
clinical. 

  

	 	2.4.3 	DFCI’s right to supply technical Information and to grant non-exclusive, non-transferable licenses to the Licensed Technology to other academic, governmental or
not- for-profit organizations to make and use Licensed technology for non-commercial research purposes and not for use in human subjects, clinical trials or for diagnostic purposes involving human subjects. 

  

	 	2.4.4 	DFCI’s right to supply Technical Information and to grant non-exclusive licenses to the Licensed Technology to commercial entities in the area of DHPLC and all
other fields of use not specified in Field of Use 2. and to grant exclusive licenses outside of Field of use 1 and Field of use 2. 

  

	2.5	Sublicensing. Licensee has the right to grant sublicenses under this Agreement consistent with the terms and conditions of this Agreement. Licensee remains
responsible for the operations of any Sublicensee under this Agreement, as if the operations were carried out by Licensee. 

  

	 	2.5.1 	Notice and Approval. Licensee shall promptly notify DFCI in writing of the identity of any prospective Sublicensee. 

  

	 	2.5.2 	Form and Content of Sublicenses. Licensee shall issue any sublicense(s) granted by it under this Agreement in writing and shall attach a copy of this Agreement
to all sublicenses. 

 Licensee shall include the equivalent of at least the following provisions in all
sublicenses. 
  

	 	(a)	Sublicensee shall use its best efforts to bring the subject matter of the sublicense into commercial use as quickly as possible and shall report annually to Licensee on
its operations under the sublicense. 

  

	 	(b)	Sublicensee shall make payments due to Licensee in relation to Net Sales of Licensed Products in a timely manner, so that Licensee may comply with its obligations to
make payments to DFCI as set forth in Articles 3 and 4 of this Agreement. 

  

	 	(c)	The terms and conditions of Section 2.4 (Reserved Rights.), paragraphs 4.2.1 (Books and Records ) and 4.2.2 (Inspections), Sections 5.2 – 5.6, (U.S.
Manufacture, Other Government Laws, Patent Marking, Publicity, Other Agreements) Article 6. (Patent Preparation, Filing, Prosecution and Maintenance) Article 7 (Patent Infringement and Enforcement), Sections 8.4.4 (Termination- Sublicenses and
Article 9 (Indemnification, Defense and Insurance), Article 10 (Disclaimer of Warranties) and Article 12 (Dispute Resolution) of this Agreement are binding on the Sublicensee. 

  

	 	(d)	Sublicensees do not have the right to grant further sublicenses. 

  

	 	2.5.3 	Copies of Sublicenses to DFCI. Licensee shall forward to DFCI a copy of any and all fully executed sublicenses. Such copy shall be postmarked within thirty days
of the execution of the sublicense. Licensee shall also forward to DFCI annually a copy of the reports received by Licensee from its Sublicensee during the preceding twelve (12) month period under the sublicenses as shall be pertinent to
(1) its operations under the sublicense and (2) a royalty accounting under the sublicense agreement. 

  

	 	2.5.4 	Licensee’s Continuing Obligations. Nothing in Section 2.5 may be construed to relieve Licensee of its obligations to DFCI under this Agreement,
including but not limited to Licensee’s obligations under Article 9. 

  

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 Agreement no. 3899 
  

 Article 3 – Consideration - Amounts and Time for Payment 
 In partial consideration of the rights granted by DFCI to Licensee under this Agreement, Licensee shall make the following payments to DFCI according to
this Article 3 and Article 4, on behalf of itself, any Affiliate(s) or Sublicensee(s). 
  

	3.1	Reimbursements and Other Financial Consideration 

  

	 	3.1.1 	Past Patent Expenses. Within thirty (30) days of the Effective Date, upon receipt of an invoice from DFCI, Licensee shall reimburse DFCI for twenty five
percent (25%) of all out-of-pocket expenses incurred and/or paid by DFCI before and up until the Effective Date for the filing, prosecution maintenance and enforcement of Patent Rights. Licensee acknowledges that as of the Effective Date the
total amount of these out-of-pocket patent expenses incurred by DFCI is approximately Twenty Thousand Dollars ($20,000) and that this amount may increase slightly if DFCI receives further bills from its law-firm for prosecution of Patent Rights up
until the Effective Date. Upon receipt of invoices from DFCI, Licensee shall make three further payments each at six (6) monthly intervals beginning from the Effective Date, until the amount due is paid in full. 

  

	 	3.1.2 	Future Patent Expenses. Beginning on the Effective Date, Licensee shall assume direct responsibility for the payment of all expenses for the filing, prosecution,
maintenance and enforcement of Patent Rights according to Articles 6 and 7. Upon receipt of an invoice from the law-firm, Licensee shall pay such expenses within thirty (30) days of receipt of the invoice. 

  

	 	3.1.3 	 Initial License Fee. Over a period of two (2) years, beginning from the Effective Date, Licensee shall pay to DFCI, upon receipt of an
invoice, a non-creditable, non-refundable Initial License Fee in the sum of Two Hundred and Twenty Thousand US dollars ($220,000). This amount shall be payable to DFCI in four (4) payments at six (6) monthly intervals: The first payment of
Fifty Thousand US Dollars ($50,000), shall be due within thirty (30) days of the Effective Date, the second payment of Fifty Thousand US Dollars ($50,000) by march 31st, 2010, the third payment of Sixty Thousand US Dollars ($60,000) by September 30th, 2010 and the final payment of Sixty Thousand US Dollars ($60,000)
shall be due by March 31st, 2011. The Initial License
Fee shall be due and payable in full by Licensee in the event of any termination of this Agreement by Licensee or DFCI. 

  

	 	3.1.4 	Milestone Payments. With respect to each of the first five Licensed Products or Licensed Services developed by either Licensee, its Affiliates, or
Sublicensees, whether covered in whole or in part by the Licensed Technology, Licensee shall pay DFCI the following milestone payments within 45 days of the occurrence of the following events whether Licensee, an Affiliate, Sublicensee achieves the
events: 

 (i) Fifteen Thousand Dollars US Dollars ($15, 000) upon FDA or PMA approval or equivalent for
diagnostic products. 
 (ii) Fifteen Thousand US Dollars ($15,000) upon the first commercial sale of each Licensed Product or
Licensed Service anywhere in the world requiring FDA or PMA approval 
 (iii) Ten Thousand US Dollars ($10, 000) upon the first
commercial sale of each Licensed Product or Licensed Service anywhere in the world where such Licensed Product or Licensed Service does not require FDA or PMA approval. 
 (iv) Cumulative Net Sales of $1 million a lump sum payment of twenty five thousand US Dollars ($25,000). 
  

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 (iv) Cumulative Net Sales of $15 million a lump sum payment of one hundred thousand US
Dollars ($100,000). 
  

	 	3.1.5	Running Royalties. On a quarterly basis, Licensee shall pay to DFCI the following royalties: 

	 	(i)	a royalty of seven percent (7%) of Net Sales on all Licensed Products and Licensed Services for all sales made by Licensee, its Affiliates and Sublicensees.

  

	 	(ii)	A royalty of ten percent (10%) of Net Sales on all Licensed Products and Licensed Services for all sales made by Licensee, its Affiliates and Sublicensees to its
Distributors. 

 All Royalties will not be subject to royalty stacking provisions. 
  

	 	3.1.6 	Sublicensing Running Royalties. Licensee shall pay DFCI an amount equivalent to the sum DFCI would otherwise have received in running royalties if Licensed
Products were sold directly by Licensee. 

 Recording and payment of these royalties by Licensee must be made
according to the provisions of Article 4. 
  

	 	3.1.7 	Sublicensing Fees. In the event Licensee sublicenses any of the Licensed Technology in Field of Use 2, DFCI shall be entitled to receive 25% of all net
Sublicense Fees payable to Licensee in connection with such sublicense. 

 For the sake of clarity, Sublicense
Fees shall exclude 1) any royalties received by Licensee from its sublicensees. 2) bona fide research and development support paid to Licensee by a development partner, and 3) money received as a result of an equity investment in Licensee
from research partners. 
 Further, any Sublicense Fees that Licensee receives from its sublicensees arising from a milestone
event set by Licensee that constitutes a First Commercial Sale (“FCS”) anywhere in the world shall also be excluded from the calculation of Sublicense Fees payable to DFCI. 
 Notwithstanding the foregoing, DFCI shall be entitled to receive the aforementioned applicable percentage of Sublicense Fees as calculated
on any and all milestones (other than the FCS Milestones) set forth by Licensee in any sublicense, including fees payable to Licensee for all other commercial sales milestones. Licensee shall pay the Sublicense Fees to DFCI within forty-five
(45) days of each calendar quarter in which such fees are received from Sublicensees by Licensee. Sublicense Fees are not creditable against any other payment obligations of Licensee. 
  

	3.2	Waiver or Deferral. Waiver or deferral by DFCI of any payment owed under any paragraph under Section 3.1 may not be construed as a waiver or deferral of any
subsequent payment owed by Licensee to DFCI. 

  

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	3.3	Combination Packages. If a Licensed Product or Licensed Service is sold in a combination package or kit containing other active products or processes, then Net
Sales for purposes of determining royalty payments on the combination package will be calculated using one of the following methods, but the royalties payable to DFCI may not be reduced to less than seventy five percent (75%) of that provided
for in paragraph 3.1.5 of this Agreement: 

  

	 	(a)	By multiplying the net selling price of the combination by the fraction A/A+B, where A is the gross selling price, during the royalty-paying period in question, of the
Licensed Product sold separately, and B is the gross selling price during the royalty period in question, of the other active products sold separately; or 

  

	 	(b)	If no separate sales are made of the Licensed Product or any of the active products in such combination package during the royalty-paying period in question, Net Sales
for the purposes of determining royalty payments, must be calculated by dividing the net selling price of the combination by the number of functions performed by the combination sold where such combination contains active agents other than those
licensed under this Agreement. 

  

	3.4	Reduced Rate after Expiration of Patents. Licensee’s obligation to pay running royalties to DFCI under paragraphs 3.1.5 and 3.1.6 shall terminate on a
country-by-country basis upon expiration of the last-to-expire patent in the applicable country. However, in recognition of the ongoing value of the Technical Information, Licensee shall continue to pay DFCI running royalties on Net Sales of
Licensed Products and Licensed Services at a rate of 50% of the value set forth in paragraph 3.1.5 for so long as Licensed Products and Licensed Services are sold in the various country(ies). Following the last-to-expire patent in any applicable
country, in the event that Licensee identifies that a competitor is selling competing products and services that are covered by the Licensed Technology which are significantly affecting Licensee’s sales of any Licensed Products and Licensed
Services and such competitor does not have a license from DFCI to sell such product or service, if Licensee can demonstrate to DFCI that its sales are down more than twenty five percent (25%), in a particular territory, then no royalty shall be due
to DFCI in such specific territory. 

 Article 4 – Royalty Reports, Payments and Financial Records 

  

	4.1	Royalty Reports. Within forty-five (45) days after March 31, June 30, September 30 and December 31, of each year in which this
Agreement is in effect, Licensee shall deliver to DFCI full, true and accurate reports of its activities and those of its Affiliates or Sublicensee(s), if any, relating to this Agreement during the preceding three month period. These reports must
include at least the following: 

  

	 	(a)	Number of Licensed Products and Licensed Services manufactured and sold by Licensee, and any Affiliates or Sublicensees, in each country of the Territory;

  

	 	(b)	Total billings for the Licensed Products and Licensed Services sold; 

  

	 	(c)	Deductions applicable to determining Net Sales; 

  

	 	(d)	The nature and amount of Sublicense Income received by Licensee; 

  

	 	(e)	Total royalties due to DFCI; 

 With each report, Licensee shall pay to DFCI the royalties due and payable. If no royalties are due, Licensee shall so report. If multiple Licensed Products and Licensed Services are covered by the license granted under this Agreement,
Licensee shall separately identify each Licensed Product and Licensed Service in the royalty report. 
  

	4.2	Record Keeping. 

  

	 	4.2.1  	Books and Records. Licensee shall keep, and shall require its Affiliates and Sublicensees to keep, true books of account containing an accurate record (together
with supporting documentation) of all data necessary for determining the amounts payable to DFCI. Licensee shall keep it records at its principal place of business or the principal place of business of the appropriate division of Licensee to which
this Agreement relates and shall require its Affiliates and Sublicenses to keep their books and records in the same manner. 

  

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	 	4.2.2	Inspections. In order for DFCI to determine the correctness of any report or payment made under this Agreement, Licensee shall make its records available to DFCI
for inspection, for a period of three (3) years following the end of the calendar year to which they pertain. Licensee shall also require any Affiliates or Sublicensees to make their records available for inspection by DFCI, in the same manner
as provided in this paragraph 4.2.2. 

 DFCI may inspect the records during regular business hours by a certified
public accountant selected by DFCI and reasonably acceptable to the licensed entity whose records are being inspected. In conducting inspections under this paragraph 4.2.2, Licensee agrees that DFCI’s accountant may have access to all records
which DFCI reasonably believes to be relevant to calculating royalties owed to DFCI under Article 3. 
 DFCI is responsible for
the cost of any inspection, unless the examination shows an underreporting or underpayment by any entity in excess of five percent for any twelve month period, in which case Licensee shall pay the cost of the inspection as well as any additional sum
that would have been payable to DFCI had the Licensee reported correctly, plus interest as set forth in Section 4.5. 
  

	4.3	Form of Payments and Taxes. Licensee must make all payments to be made to DFCI in Boston, Massachusetts, or at such other place or in such other way as DFCI may
reasonably designate. Payments must be paid by check made payable to Dana-Farber Cancer Institute, cite Agreement no. 3899 and sent to: 

 Fiscal Manager 
 Office of Research and Technology Ventures 
 Dana Farber Cancer Institute 
 44 Binney Street, BP304E 
 Boston, MA 02115 
 or if by wire transfer, using the following information: 
 Bank: Bank of America 
 Bank Address: 100 Federal Street, Boston, MA 02110

 Account #431-72001 
 ABA# 011000390 
 Reference: Royalties, S. Ramirez x2-5695 
 Licensee shall pay all amounts payable to DFCI under this Agreement in United States funds without deduction for taxes, exchange, collection
or other charges that may be imposed by any country or political subdivision with respect to any amounts payable to DFCI under this Agreement. Licensee is responsible for paying, or ensuring payment of, such taxes, exchange, collection or other
charges. 
  

	4.4	Currency Conversion. If any currency conversion is required in connection with any payment owed to DFCI, the conversion will be made at the buying rate for the
transfer of such other currency as quoted by the Wall Street Journal on the last business day of the applicable accounting period in the case of any payment payable with respect to a specified accounting period or, in the case of any other payment,
the last business day before the date the payment is due. 

  

	4.5	Interest. Any payment owed to DFCI under this Agreement that is not made when due will accrue interest beginning on the first day following the due date
specified in Article 3. The interest will be calculated at the annual rate of the sum of (a) three percent (3%) plus (b), the prime interest rate quoted by Bank of America on the date the payment is due, the interest being compounded on
the last day of each calendar quarter. However, the annual rate may not exceed the maximum legal interest rate allowed in Massachusetts. The payment of interest as required by this Section does not foreclose DFCI from exercising any other rights or
remedies it has as a consequence of the lateness of any payment. 

  

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 Article 5 – Operations under the License 
  

	5.1	Due Diligence 

  

	 	5.1.1 	General Obligations. Licensee shall use best efforts to bring Licensed Products and Licensed Services to the marketplace as soon as reasonably practicable,
through a diligent and aggressive program of development, production and distribution. Such efforts must not be less than the efforts expended by Licensee in connection with its other high priority projects. After commercialization, Licensee shall
continue active and diligent efforts to keep Licensed Products and Licensed Services available to the public. 

 If at any time in the development or commercialization process Licensee decides not to exploit a particular Licensed Product or Licensed Service in Field of Use 2, either by itself, with an Affiliate or through sublicensing, it shall
promptly inform DFCI in writing. Unless within sixty days of its notice to DFCI, Licensee establishes to DFCI’s satisfaction that the particular Licensed Product or Licensed Service is directly comparable to a Licensed Product or Licensed
Service that Licensee is diligently developing or marketing according to the paragraphs under Section 5.1, DFCI has the right terminate this Agreement insofar as it applies to the particular Licensed Product or Licensed Service by providing
written notice to Licensee. 
  

	 	5.1.2	  Development Plan. Within ninety (90) days of the Effective Date of this Agreement, Licensee shall provide DFCI with a bona fide written development
plan that describes Licensee’s plan for bringing the subject matter of the Licensed Technology to practical application in each of the fields within the Fields of Use, as applicable (“Development Plan”). The Development Plan must set
forth the particular Licensed Products and Licensed Services and practical applications of Licensed Products and Licensed Services that Licensee initially intends to develop, cite Licensee’s specific goals and objectives for the ensuing six
month period for developing or commercializing the Licensed Technology and outline Licensee’s plan for achieving the specific due diligence obligations set forth in Section 5.1.3 below. The outline must include actual or projected
financial resources or strategic alliances that will be required to meet such objectives. 

  

	 	5.1.3 	Specific Diligence Benchmarks. Licensee shall use its best efforts to meet the following specific effort and achievement benchmarks (“Diligence
Benchmarks”) by the dates specified in this paragraph. For purposes of this paragraph 5.1.3, DFCI will consider efforts of an Affiliate or Sublicense as efforts of Licensee. 

  

	 	(i)	Within ninety (90) days of the Effective Date of this Agreement, Licensee shall provide DFCI with the Development Plan containing the information described in
5.1.2. The Development Plan will also contain additional Diligence Benchmarks for the development of specific Licensed Products and Licensed Services in addition to those set forth in 5.1.3 (ii) and (iii) below. 

 

	 	(ii)	Within three (3) months of the Effective Date Licensee will launch a K-Ras mutation assay kit employing its proprietary Surveyor endonuclease technology both in
Europe and the U.S. Both Licensed Products and Licensed Services will be offered for K-Ras mutation detection. 

  

	 	(iii)	Within two (2) years of the Effective Date, Licensee will complete its evaluation of its K-Ras kit using Cold-PCR on circulating DNA to further improve the
sensitivity of finding cancer associated mutations earlier in cancer development. 

  

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	 	(iv)	Within fifteen (15) days after each six (6) month anniversary of the Effective Date, Licensee shall provide DFCI with a written report describing the efforts
and progress by Licensee, or any Affiliates or Sublicensees, during the prior six month period, and its goals and objectives for the ensuing six months, to develop and commercialize Licensed Products and Licensed Services. The report must be in
sufficient detail to permit DFCI to monitor Licensee’s compliance with the due diligence provisions of this Agreement. The progress report must provide the information set forth above for each Licensed Product and Licensed Service.

 Specifically, Licensee shall include at least the following in these reports: 
  

	 	(a)	a summary of Licensee’s progress toward meeting the goals and objectives that had been established for the previous six month period, including research and
development efforts, efforts to obtain regulatory approval, marketing efforts and sales figures. 

  

	 	(b)	a summary of Licensee’s goals and objectives for the ensuing six month period for developing and commercializing the Licensed Technology and an identification of
additional Licensed Products and Licensed Services that Licensee intends to develop, if any and timelines for development and commercialization of such Licensed Products and Licensed Services. 

  

	 	(c)	to the extent not covered by the foregoing, a summary of Licensee’s progress in meeting the Diligence Benchmarks of Section 5.1.3. 

For purposes of this paragraph 5.1.3, DFCI will consider efforts of an Affiliate or Sublicensee as efforts of Licensee. 
  

	 	5.1.4	  Adjustments. The Diligence Benchmarks or dates set forth above may be adjusted by mutual agreement by the parties. 

 If at any time Licensee determines that it is unlikely to meet one or more of the Diligence Benchmarks, it may so notify DFCI in writing and
explain the technical, regulatory or other reasons therefore. At that time, Licensee may also ask DFCI for a reasonable adjustment of the Diligence benchmark(s) or dates specified for the Diligence Benchmarks. 
 DFCI may accept or reject Licensee’s proposed adjustment(s). However, if Licensee establishes to DFCI’s satisfaction that an
adjustment of one or more Diligence Benchmarks or dates (a) is necessary because of pre-clinical technical difficulties or delays in clinical or regulatory processes that Licensee, acting reasonably, could not have avoided or (b) that
Licensee has expended significant effort and resources toward meeting the Diligence Benchmark, then DFCI shall negotiate in good faith with Licensee in an effort to reach mutually acceptable, adjusted Diligence Benchmarks or dates for achieving the
same. If, despite their good faith negotiation, the parties have not reached an agreement on an adjustment within sixty days of the date specified in paragraph 5.1.3 and Licensee has not otherwise met the Diligence Benchmark, then DFCI may terminate
the Agreement immediately by giving Licensee written notice of termination. Alternatively, at DFCI’s option, with input from Licensee, DFCI may convert the exclusive licenses granted under this Agreement to a non-exclusive license, as further
provided in paragraph 5.1.7. 
  

	 	5.1.5  	Failure to Perform. Licensee’s failure to perform with any due diligence requirement provided in any paragraph in this Section 5.1 is grounds for DFCI
to terminate this Agreement according to Section 8.2.3. or to convert this Agreement to a non-exclusive license agreement, at DFCI’s option. Note - Termination or conversion to a non-exclusive license may be with respect to the entire
subject matter of the Agreement, a specific field within the Field of Use or a particular Licensed Product or Licensed Service, depending upon the nature and extent of Licensee’s failure to perform. 

  

 10 

 Agreement no. 3899 
  

	 	5.1.6 	Conversion to Non-exclusive License. If the exclusive license granted under this Agreement is converted to a non-exclusive license, this Agreement is
automatically amended as follows; (a) the exclusive license of Section 2.1 becomes a non-exclusive license, (b) Licensee loses the right to grant sublicenses under Section 2.5, (c) the obligations of paragraphs 5.1.1. 5.1.2
and 5.1.5 continue to apply but the other paragraphs of Section 5.1 are waived, (d) the obligation under Section 5.2 no longer applies, (e) Licensee has no further rights under Section 6.1 and 6.2, and (f) DFCI has the
sole right to pursue apparent infringements and the terms of Article 7 no longer apply. 

  

	5.2	U.S. Manufacture. Licensee shall manufacture Licensed Products leased, used or sold in the United States substantially in the United States as required by 35
U.S.C. 204 and 37 C.F.R. 401 et. seq., as amended. Licensee shall also require any Affiliate(s) or Sublicensee(s) to comply with this U.S. manufacture requirement. 

  

	5.3	Other Government Laws. Licensee shall comply with, and ensure that its Affiliates and Sublicensees comply with, all government statutes and regulations that
relate to Licensed Products. These include but are not limited to FDA statutes and regulations, the Export Administration Act of 1979, as amended, codified in 50 App. U.S.C. 2041 et seq. and the regulations promulgated thereunder or other applicable
export statutes or regulations. 

  

	5.4	Patent Marking. Licensee shall mark, and shall require its Sublicensees and Affiliates to mark, all Licensed Products sold in the United States with the word
“Patent” and the number or numbers of Patent Rights applicable to the Licensed Product. 

  

	5.5	Publicity – Use of Name. Licensee, its Affiliate and Sublicensees are not permitted to use the names of DFCI, its related entities or its employees, or any
adaptations thereof, in any advertising, promotional or sales literature, or in any securities report required by the Securities and Exchange Commission (except as required by law), without the prior written consent of DFCI in each case. However
Licensee may (a) refer to publications in the scientific literature by employees of DFCI or (b) state that a license from DFCI has been granted as provided in this Agreement. 

  

	5.6	Confidentiality. Any information that is provided to Licensee in connection with patent filing and prosecution under the terms of Section 6 below is deemed
to be DFCI Confidential Information. Licensee agrees that, during the term of this Agreement, and for five (5) years thereafter, to employ all reasonable efforts to maintain the information secret and confidential, such efforts to be no less
than the degree of care employed by Licensee to preserve and safeguard its own confidential information. The information shall not be disclosed or revealed to anyone except employees or agents of or consultants to the Licensee who have a need to
know the information and who have entered into a secrecy agreement with the licensee under which such employees, agents, or consultants are required to maintain confidential the DFCI Confidential Information and such employees, agents, or
consultants shall be advised by the Licensee of the confidential nature of the information and that the information shall be treated accordingly. The Licensee’s obligations under this Section shall not extend to any part of the information:

  

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

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

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

  

 11 

 Agreement no. 3899 
  

	 	(d)	that is demonstrated from written records to have been developed by or for the Licensee without reference to confidential information disclosed by the DFCI; or

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

 Licensee may publish manuscripts, abstracts or the like describing the Patent Rights and inventions contained therein, provided DFCI Confidential Information as defined in this Section, is not included
without first obtaining written approval from DFCI to include such DFCI Confidential Information. Such approval not to be unreasonably withheld. 
 Article 6 – Patent Preparation, Filing, Prosecution and Maintenance 
  

	6.1	Responsibility. As of the Effective Date of this Agreement, DFCI will transfer to Licensee, the responsibility for preparing, filing, prosecuting, and
maintaining the patent applications and patents included within Patent Rights. For purposes of this Agreement, patent prosecution includes ex parte prosecution, interference proceedings, reissues, reexaminations and oppositions. As long as the
license remains exclusive, Licensee shall have the lead in preparing, filing, prosecuting and maintaining the patent applications and patents included within Patent Rights and shall provide, or cause its agent to provide, copies of relevant
correspondence between Licensee and the United States Patent Office, or the various foreign patent offices, to DFCI and give DFCI reasonable opportunity to advise Licensee and Licensee’s counsel on such matters. DFCI designates the following
individual or department for receiving the patent-related correspondence: 

 Pamela D. Ariniello, Esq 

Associate General Counsel for Intellectual Property 
 Dana Farber Cancer Institute, Inc. 
 Office of General Counsel 
 44 Binney Street 
 Boston, MA 02115 
 Upon DFCI’s request, Licensee shall be available to consult with DFCI on matters relating to
preparing, filing, prosecuting or maintaining any of the applications or patents within Patent Rights, which matters may be of particular interest to DFCI. Licensee, shall consider the legitimate interests of DFCI in performing its responsibility
under this Section 6.1. Licensee designates the following individual or department to receive such requests by DFCI. 
 Craig Tuttle 
 President and CEO 
 Transgenomic Inc. 
 12325 Emmet Street 
 Omaha, NE 68164 
 Cooperation. DFCI shall cooperate with Licensee in preparing, filing, prosecuting and maintaining the patent applications and patents within Patent Rights. Each party shall provide prompt notice to the other party of any matter that
comes to its attention that may affect the patentability, validity or enforceability of any patent application or patent within Patent Rights. 
  

	6.2	Relinquishing Rights. Licensee may surrender its licenses under any, of the patents or patent applications within Patent Rights in any country of the licensed
Territory by giving ninety (90) days advance written notice to DFCI. However, if Licensee is surrendering any patent or application within Patent Rights on which an interference proceeding or opposition has been declared or filed, the notice
period is one hundred and eighty (180) days. If Licensee so surrenders its rights, it will remain responsible for all patent-related expenses incurred during the applicable notice period. Thereafter, Licensee will have no further obligation to
pay any patent expenses for the patents or patent applications that it surrendered. Not withstanding the foregoing, if such surrender results in termination of all rights under this agreement, then the termination notice provision in
Section 8.3, below, shall apply. 

  

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 Agreement no. 3899 
  

 Article 7 – Patent Infringement and Enforcement 
  

	7.1	Notice. If at any time during the term of this Agreement, Licensee becomes aware of an apparent Substantial Infringement (as defined in Section 7.2) in a
particular country of a patent within Patent Rights, it will promptly notify DFCI. 

  

	7.2	Action by DFCI 

  

	 	7.2.1  	Procedure. DFCI is responsible for enforcing its Patent Rights and prosecuting apparent infringers when, in its judgment, such action may be reasonably necessary
and justified. Licensee may request DFCI to take steps to protect the Patent Rights from an apparent infringement covering an Invention. However, before DFCI must respond to the request, Licensee shall supply DFCI (i) an opinion of qualified
legal counsel demonstrating to DFCI’s reasonable satisfaction that an infringement of the Patent Rights exists in a particular country and (ii) written evidence demonstrating to DFCI’s reasonable satisfaction that a Substantial
Infringer of the Patent Rights exists in a particular country (“Substantial Infringement”) 

  

	 	7.2.2  	DFCI has three months from the date of receiving satisfactory written evidence from Licensee of a Substantial Infringement to decide whether it will seek to terminate
the Substantial Infringement. DFCI shall give Licensee notice of its decision by the end of this three-month period. If DFCI notifies Licensee that it intends to prosecute the alleged infringer, then DFCI has SIX (6) months from the date of its
notice to Licensee to either (a) cause the Substantial Infringement to terminate or (b) initiate legal proceedings against the alleged infringer. If any such suit is brought by DFCI in its own name, or jointly with Licensee if required by
law, it will be at DFCI’s expense and on its own behalf, but DFCI shall not be obligated to bring more than one such suit at a time. 

  

	 	7.2.3  	If DFCI notifies Licensee that it does not intend to prosecute an alleged Substantial Infringer and there is not at least one suit pending against an alleged infringer
of the Patent Rights then in such case, Licensee shall be relieved of the obligation to pay 50% of royalties that would otherwise accrue from the time of notice until the day DFCI shall bring suit against the alleged infringer or shall obtain
discontinuance of said infringement, with respect only as to the patent rights as alleged to be Substantially Infringed. 

  

	 	7.2.4  	Cooperation. Licensee shall cooperate with and supply all assistance reasonably requested by DFCI, at DFCI’s request and expense. 

 

	 	7.2.5  	Licensee’s Right to Join. Licensee independently has the right to join any legal proceeding brought by DFCI under this Section 7.2 and fund up to fifty
percent of the cost of the legal proceeding from the date of joining. If Licensee elects to join as a party plaintiff pursuant to this paragraph 7.2.2, Licensee may jointly participate in the action with DFCI, but DFCI’s counsel will be lead
counsel. 

  

	7.3	Declaratory Judgment Actions. 

 In the event that any third party initiates a declaratory judgment action alleging the invalidity or unenforceability of the Patent Rights, or if any third party brings an infringement action against Licensee or its Affiliates or
Sublicensees because of the exercise of the rights granted Licensee under this Agreement, then Licensee shall have the right to defend such action under its own control and at its own expense; provided, however, that DFCI shall have the right to
intervene and assume sole control of such defense, at its own expense. Neither party shall enter into any settlement, consent judgment or other voluntary final disposition of any action under this Section 7.3 without the consent of the other
party, which consent shall not be unreasonably

  

 13 

 Agreement no. 3899 
  

 
withheld unless the settlement includes any express or implied admission of liability or wrongdoing on DFCI’s part, in which case DFCI’s right to grant or deny consent is absolute and
at its sole discretion. Any recovery shall be first applied to reimburse each party pro rata for any out-of pocket expenses it may have incurred with respect to defense of such action and the remainder shall be retained entirely by the party
controlling the action; provided, however, that any recovery for infringement will be distributed as described in Section 7.4. 
  

	7.4	Distribution of Amounts Paid by Third Parties. In any legal proceeding brought by DFCI under Section 7.2 and funded solely by DFCI, any damages or other
amounts recovered as a result of the proceeding will be retained by DFCI. In any legal proceeding brought by DFCI under Section 7.2 and funded jointly by DFCI and Licensee, any damages or other amounts will first be used to reimburse each party
pro rata for any out-of pocket expenses it may have incurred with respect to defense of such action. The balance, if any, will be divided equally between the parties. 

 Article 8 – Term and Termination 
  

	8.1	Term. Unless terminated earlier under the provisions of this Agreement, this Agreement will terminate when Licensee ceases to sell Licensed Products and/or
Licensed Services. 

  

	8.2	Termination by Licensor. DFCI has the right to immediately terminate this Agreement and all licenses granted hereunder by providing Licensee with written notice
of termination, upon the occurrence of any of the following events. 

  

	 	8.2.1 	Licensee ceases to carry on its business with respect to Licensed Products and Licensed Services. 

  

	 	8.2.2 	Licensee fails to pay on schedule any royalty or other payment that has become due and is payable under Articles 3 or 4 of this Agreement and has not cured the
default by making the required payment, together with interest due, within thirty days of receiving a written notice of default from DFCI requesting such payment.. 

  

	 	8.2.3 	Licensee fails to comply with any due diligence obligation provided for in Section 5.1, unless Licensee has cured the default by meeting the obligation
within sixty days of receiving written notice of default from DFCI. 

  

	 	8.2.4 	Licensee defaults in its obligations to procure and maintain insurance under Section 9.2. 

  

	 	8.2.5 	An officer of the Licensee is convicted of a felony relating to the manufacture, use, sale or importation of Licensed Products. 

  

	 	8.2.6 	Licensee materially breaches any other provision of this Agreement, unless Licensee has cured the breach within ninety of receiving written notice from DFCI specifying
the nature of the breach. 

  

	 	8.2.7 	Termination for Insurance and Insolvency. DFCI may terminate this Agreement immediately upon written notice, with no further notice obligation or opportunity to
cure, if Licensee fails to obtain and maintain the insurance required by Section 9. DFCI or Licensee may terminate this Agreement immediately upon written notice, with no further notice obligation or opportunity to cure, if DFCI or Licensee
shall become insolvent, shall make an assignment for the benefit of creditors, or shall have a petition in bankruptcy filed for or against it. 

  

 14 

 Agreement no. 3899 
  

	8.3	Termination by Licensee. Licensee has the right to terminate this Agreement without cause by giving DFCI one hundred and eighty days prior written notice. Upon
such termination by Licensee, any and all unpaid Initial License Fees, Milestone Payments, Running Royalties, Sublicense Fees and all past patent expenses incurred by DFCI prior to the Effective Date of the Agreement and patent expenses incurred by
Licensee up until the official date of termination shall be payable in full by Licensee. 

  

	8.4	Effect of Termination. 

  

	 	8.4.1  	No release. Upon termination of this Agreement for any reason, nothing in this Agreement may be construed to release either party from any obligation that
matured prior to the effective date of the termination. 

  

	 	8.4.2  	Survival. The provisions of Section 3.1.2 (patent expenses) Article 4 (Royalty Reports, Payments and Financial Records), Section 5.5 (Publicity –
Use of Names), paragraph 8.4.3 (Inventory), Sections 9.1 – 9.5 (Indemnification and Defense), Sections 9.6 – 9.9 (Insurance), Article 11 (Warranty Disclaimers) and Article 12 (Dispute Resolution) survive termination or expiration of this
Agreement. 

  

	 	8.4.3  	Inventory. Licensee, any Affiliate(s) and any Sublicensees whose sublicenses are not converted as provided in paragraph 8.4.4, may, after the effective date of
termination, sell all Licensed Products and Licensed Services that are in inventory as of the date of written notice of termination, and complete and sell Licensed Products and Licensed Services which the licensed entity(ies) can clearly demonstrate
were in the process of manufacture as of the date of written notice of termination, provided that Licensee shall pay to DFCI the royalties thereon as required by Article 3 and shall submit the reports required by Article 4 on the sales of Licensed
Products and Licensed Services. 

  

	 	8.4.4  	Sublicenses. Any sublicenses will terminate contemporaneously with this Agreement. However, any Sublicensee not in default under its sublicense may request
conversion of the sublicense to a license directly between DFCI and Sublicensee. DFCI shall not unreasonably withhold its acceptance of such conversion, however, as a condition of DFCI’s acceptance, the Sublicensee must first agree to be bound
by all of the provisions of this Agreement. 

 Article 9 – Indemnification, Defense and Insurance

 Indemnification and Defense. 
  

	9.1	Licensee shall indemnify, defend and hold harmless DFCI and its trustees officers, medical and professional staff, employees, and agents and their respective
successors, heirs and assigns (the “Indemnitees”), against any liability, damage, loss or expense (including reasonable attorneys’ fees and expenses of litigation) incurred by or imposed upon the Indemnitees, or any one of them, in
connection with any claims, suits, actions, demands or judgments (a) arising out of the design, production, manufacture, sale, use in commerce, lease, or promotion by Licensee or by a Sublicensee, Affiliate or agent of Licensee, or any product,
process or service relating to, or developed pursuant to, this Agreement or (b) arising out of any other activities to be carried out pursuant to this Agreement. 

  

	9.2	Licensee’s indemnification under Section 9.1 (a) applies to any liability, damage, loss or expense whether or not it is attributable to the negligent
activities of the Indemnitees. Licensee’s indemnification under 9.1 (b) does not apply to any liability, damage, loss or expense to the extent that it is attributable to (a) the negligent activities of the Indemnitees, or (b) the
intentional wrongdoing or intentional misconduct of the Indemnitees. 

  

 15 

 Agreement no. 3899 
  

	9.3	Licensee shall, at its own expense, provide attorneys reasonably acceptable to DFCI to defend against any actions brought or filed against any party indemnified
hereunder with respect to the subject of indemnity contained herein, whether or not such actions are rightfully brought. 

  

	9.4	If any such action is commenced or claim made or threatened against DFCI or other Indemnitees as to which Licensee is obligated to indemnify it (them) or hold it (them)
harmless, DFCI or the other Indemnitees shall promptly notify Licensee of such event. Licensee shall assume the defense of, and may settle, that part of any such claim or action commenced or made against DFCI (or other Indemnitees) which relates to
Licensee’s indemnification and Licensee may take such other steps as may be necessary to protect it. Licensee will not be liable to DFCI or other Indemnitees on account of any settlement of any such claim or litigation affected without
Licensee’s consent. The right of Licensee to assume the defense of any action is limited to that part of the action commenced against DFCI and/or Indemnitees that relates to Licensee’s obligation of indemnification and holding harmless.

  

	9.5	Licensee shall require any Affiliates or Sublicensee(s) to indemnify, hold harmless and defend DFCI under the same terms set forth in Sections 9.1 – 9.4.

 Insurance. 
  

	9.6	At such time as any product, process or service relating to, or developed pursuant to, this Agreement is being commercially distributed or sold (other than for the
purpose of obtaining regulatory approvals) by Licensee or by a Sublicensee, Affiliate or agent of Licensee, Licensee shall, at its sole cost and expense, procure and maintain policies of commercial general liability insurance in amounts not less
than $2,000,000 per incident and $2,000,000 annual aggregate and naming the Indemnitees as additional insureds. Such commercial general liability insurance must provide (a) product liability coverage and (b) contractual liability coverage
for Licensee’s indemnification under Sections 9.1 through 9.3 of this Agreement. If Licensee elects to self-insure all or part of the limits described above (including deductibles or retentions which are in excess of $250,000 annual aggregate),
such self-insurance program must be acceptable to the DFCI and the DFCI’s associated Risk Management Foundation. The minimum amounts of insurance coverage required under these provisions may not be construed to create a limit of Licensee’s
liability with respect to its indemnification obligation under Sections 9.1 through 9.3 of this Agreement. 

  

	9.7	Licensee shall provide DFCI with written evidence of such insurance upon request of DFCI. Licensee shall provide DFCI with written notice at least fifteen
(15) days prior to the cancellation, non-renewal or material change in such insurance; if Licensee does not obtain replacement insurance providing comparable coverage within such fifteen (15) day period, DFCI has the right to terminate
this Agreement effective at the end of such fifteen (15) day period without any notice or additional waiting periods. 

  

	9.8	Licensee shall maintain such comprehensive general liability insurance beyond the expiration or termination of this Agreement during (a) the period that any
product, process, or service, relating to, or developed pursuant to, this Agreement is being commercially distributed or sold (other than for the purpose of obtaining regulatory approvals) by Licensee or by a Sublicensee, Affiliate or agent of
Licensee and (b) a reasonable period after the period referred to in 9.8 (a) above which in no event shall be less than fifteen (15) years. 

  

	9.9	Licensee shall require any Affiliates or Sublicensee(s) to maintain insurance in favor of DFCI and the Indemnitees under the same terms set forth in Sections 9.6 –
9.8. 

  

 16 

 Agreement no. 3899 
  

 Article 10 – Disclaimer of Warranties 
  

	10.1	DFCI MAKES NO WARRANTY, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR OF FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT
TO ANY PATENT, TRADEMARK, SOFTWARE, NON-PUBLIC OR OTHER INFORMATION, OR TANGIBLE RESEARCH PROPERTY, LICENSED OR OTHERWISE PROVIDED TO LICENSEE HEREUNDER AND HEREBY DISCLAIMS THE SAME. 

  

	10.2	DFCI DOES NOT WARRANT THE VALIDITY OF THE PATENT RIGHTS LICENSED HEREUNDER AND MAKES NO REPRESENTATION WHATSOEVER WITH REGARD TO THE SCOPE OF THE LICENSED PATENT RIGHTS
OR THAT SUCH PATENT RIGHTS MAY BE EXPLOITED BY LICENSEE, AFFILIATE OR SUBLICENSEE WITHOUT INFRINGING OTHER PATENTS. IF BIOLOGICAL MATERIALS ARE LICENSED HEREUNDER, DFCI MAKES NO REPRESENTATION THAT SUCH MATERIALS OR THE METHODS USED IN MAKING OR
USING SUCH MATERIALS ARE FREE FROM LIABILITY FOR PATENT INFRINGEMENT. 

  

	10.3	THE LIABILITY OF DFCI, ITS AGENTS, OR ITS EMPLOYEES, WITH RESPECT TO ANY AND ALL SUITS, ACTIONS, LEGAL PROCEEDINGS, CLAIMS, DEMANDS, DAMAGES, COSTS AND EXPENSE ARISING
OUT OF THE PERFORMANCE OR NON PERFORMANCE OF ANY OBLIGATION UNDER THIS AGREEMENT WHETHER BASED ON CONTRACT, WARRANTY, TORT (INCLUDING WITHOUT LIMITATION NEGLIGENCE), STRICT LIABILITY, STATUTORY OR OTHERWISE SHALL BE LIMITED TO DIRECT, ACTUAL DAMAGES
INCURRED AS A RESULT OF DFCI’s FAILURE TO PERFORM ITS OBLIGATIONS AS REQUIRED BY THIS AGREEMENT AND SHALL NOT EXCEED IN THE AGGREGATE A SUM EQUAL TO THE TOTAL AMOUNTS PAID TO DFCI UNDER THIS AGREEMENT. 

 Article 11 – Notices 
  

	11.1	Notices to DFCI. Unless otherwise specified in this Agreement, reports, notices and other communications from Licensee to DFCI as provided hereunder must be sent
to: 

 Vice-President, Research and Technology Ventures 
 Dana-Farber Cancer Institute 
 44 Binney Street, BP304E 
 Boston, MA 02115 
 or other individuals or addresses as DFCI subsequently furnish by written notice to Licensee. 
 A copy of the notice must also be sent to the attention of DFCI’s Senior Vice-President for Research, as the same address as provided
above. 
  

	11.2	Notices to Licensee. Unless otherwise specified in this Agreement, reports, notices and other communications from DFCI to Licensee as provided hereunder must be
sent to: 

 Craig Turtle 
 President and CEO 
 Transgenomic Inc. 
 12325 Emmet Street 
 Omaha, NE 68164 
 or other individuals or addresses as Licensee subsequently furnish by written notice to DFCI.

  

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 Agreement no. 3899 
  

 Article 12 – Dispute Resolution 
  

	12.1	Negotiation between the Parties. The parties shall first attempt to resolve any controversy that arises from this Agreement, or claim for breach of the
Agreement, by good faith negotiations, first between their respective business development representatives and then, if necessary, between senior representatives for the parties, such as the Senior Vice-President for Research or President of DFCI
and the CEO or President of Licensee. 

  

	12.2	Non-Binding Mediation. If the controversy or claim cannot be settled through good faith negotiation between the parties, the parties agree first to try in good
faith to settle their dispute by non-binding mediation under the Mediation Rules of the American Arbitration Association, before resorting to arbitration, litigation or other dispute resolution procedure. 

 Article 13 – Independent Contractor 
  

	13.1	For the purpose of this Agreement and all services to be provided hereunder, both parties are and will be deemed to be, independent contractors and not agents or
employees of the other. Neither party has authority to make any statements, representations or commitments of any kind, or to take any action, that will be binding on the other party. 

 Article 14 – Severability 
  

	14.1 	If any one or more of the provisions of this Agreement is held to be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining
provisions of this Agreement will not in any way be affected or impaired thereby. 

 Article 15 – Force
Majeure 
  

	14.1 	Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in
fulfilling or performing any term of this Agreement when such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, including without limitation, fire, floods, embargoes, war, acts of war (whether
war is declared or not), insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority or the other Party. Performance shall be excused only to
the extent of and during the reasonable continuance of such disability 

 Article 15 – Non-assignability

  

	15.1 	Neither this Agreement nor any part of the Agreement is assignable by either party without the express written consent of the other, which consent a party will
not unreasonably withhold. However, Licensee may assign this agreement in conjunction with the sale of essentially all of its related business assets. Any attempted assignment without such consent is void. 

 Article 16 – Entire Agreement 
  

	16.1 	This instrument contains the entire Agreement between the parties. No verbal agreement, conversation or representation between any officers, agents, or employees
of the parties either before or after the execution of this Agreement may affect or modify any of the terms or obligations herein contained. 

  

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 Agreement no. 3899 
  

 Article 17 – Modifications in Writing 
  

	17.1	No change, modification, extension, or waiver of this Agreement, or any of the provisions herein contained is valid unless made in writing and signed by a duly
authorized representative of each party. 

 Article 18 – Governing Law 
  

	18.1	The validity and interpretation of this Agreement and the legal relations of the parties to it are governed by the laws of the Commonwealth of Massachusetts without
regard to any choice of law principle that would dictate the application of the law of another jurisdiction. 

 Article 19 – Captions 
  

	19.1	The captions are provided for convenience and are not to be used in construing this Agreement. 

 Article 20 – Construction 
  

	20.1	The parties agree that they have participated equally in the formation of this Agreement and that the language herein should not be presumptively construed against
either of them. 

 IN WITNESS WHEREOF, the parties hereto have caused this agreement to be executed in duplicate by their
duly authorized representatives as of the date first above written. 
  

			
	DANA-FARBER CANCER INSTITUTE, INC. (DFCI)
		
	By:	 	/s/ Anthony A. del Campo
		 	Anthony A. del Campo, M.B.A.
	Title:	 	 Vice President
 Research and Technology Ventures
 Dana Farber Cancer Institute

	Date:	 	9/29/09
	
	 TRANSGENOMIC, INC. (Licensee)

		
	By:	 	/s/ Craig J. Tuttle
		 	
	Title:	 	 President & CEO

		
	Date:	 	9/30/09

  

 19License Agreement between the Company and Power3 Medical Products, Inc.

 Exhibit 10.2 
 COLLABORATION AND EXCLUSIVE LICENSE AGREEMENT 
 This Collaboration and Exclusive License Agreement, dated as of January 23, 2009 (this “Agreement”), is entered into between Transgenomic, Inc., a Delaware corporation (“Transgenomic”), and Power3 Medical Products, Inc.,
a New York corporation (“Power3”). 
 W I T N E S S E T H : 
 WHEREAS, Power3 has rights in and is developing the Licensed Technology as a diagnostic tool for the early detection of neurodegenerative
diseases, including Alzheimer’s disease, Amyotrophic lateral sclerosis (ALS), and Parkinson’s disease; 
 WHEREAS,
Power3 is currently conducting clinical validation studies of the Licensed Technology in order to commercialize the Licensed Technology; 
 WHEREAS, Transgenomic is willing to provide certain funds to Power3 for use in the reimbursement of costs incurred by Power3 in the clinical validation studies of the Licensed Technology necessary to
commercialize the Licensed Technology; 
 WHEREAS, Transgenomic may also desire to collaborate in the performance of clinical
validation studies of the Licensed Technology; and 
 WHEREAS, Transgenomic desires to obtain, and Power3 is willing to grant,
an exclusive license in the Licensed Technology on the terms and conditions of this Agreement. 
 NOW, THEREFORE, in
consideration of the foregoing premises and the mutual covenants herein contained, the parties, intending to be legally bound, agree as follows: 
 ARTICLE 1 
 DEFINITIONS 
 For purposes of this Agreement, the terms defined in this Article 1 shall have the respective meanings set forth below: 
 1.1     “Affiliate”     means with respect to any Person, any other Person that
directly or indirectly controls, is controlled by, or is under common control with, such Person. A Person shall be regarded as in control of another Person if it owns, or directly or indirectly controls, at least fifty percent (50%) of the
voting stock or other ownership interest of the other Person, or if it directly or indirectly possesses the power to direct or cause the direction of the management and policies of the other Person by any means whatsoever. 
 1.2     “First Commercial Sale”     means, with respect to a Licensed Product, the
first bona fide transaction in a country in the Territory for which consideration is received for the sale, use, lease, transfer or similar disposition of such Licensed Product by Transgenomic, its Affiliate or (sub)licensee to customers who are not
Affiliates in such country after all applicable marketing and pricing approvals (if any) have been granted by the applicable governing health authority of such country or, prior to any pricing approval by any applicable governing health authority,
the first bona fide transaction in a country in the Territory for which consideration (revenue) is received for performing an assay of the Licensed Product by Transgenomic. 
  

 1.3     “Improvements”     means
Power3 Improvements and Transgenomic Improvements. 
 1.4     “Licensed
Know-How”     means proprietary information or other know-how, whether or not patentable, and whether stored or transmitted in oral, documentary, electronic, or other form, including without limitation, ideas, concepts,
formulas, methods, procedures, designs, compositions, plans, documents, data, inventions, discoveries, developments, works of authorship, biological and chemical materials, and any information relating to research and development plans, experiments,
results, compounds, products, preclinical and clinical data, trade secrets, chemical synthesis, scale-up and manufacturing, toxicology, regulatory, stability, and any other information relevant to Neurodegenerative Diagnostic Tests. 
 1.5     “Licensed Patent Rights”     means (a) all patents and patent
applications listed on Exhibit A hereto which are owned by or licensed to Power3, and have application in connection with Neurodegenerative Diagnostic Tests; (b) all patents that have issued or in the future shall issue therefrom,
including utility, model and design patents and certificates of invention; and (c) all divisionals, continuations, continuations-in-part, reissues, renewals, reexaminations, extensions or additions to any such patent applications and patents.

 1.6     “Licensed Product”     means test kits or systems for
performing Neurodegenerative Diagnostic Tests using the Licensed Technology. 
 1.7     “Licensed
Technology”     means, collectively, the Licensed Patent Rights, the Licensed Know-How, the Improvements and as related to the foregoing items, all laboratory notebooks, research plans, inventions, proteins and protein
fragments, biomarkers, assay methodology, processes, materials and methods for production, recovery and purification of natural products, formulae, plans, specifications, characteristics, marketing surveys and plans and business plans. 

1.8     “Net Sales”     means, with respect to any Licensed Product or Reference
Laboratory Service, the gross sales price of such Licensed Product or Reference Laboratory Service invoiced by Transgenomic, its Affiliate, or its (sub)licensee to customers who are not Affiliates (or are Affiliates but are the end users of such
Licensed Product) less, to the extent actually paid or accrued by Transgenomic or its Affiliate (as applicable), (a) credits, allowances, discounts and rebates to, and chargebacks from the account of, such customers for spoiled, damaged,
out-dated or returned Licensed Product or for Reference Laboratory Services erroneously performed; (b) freight and insurance costs incurred by Transgenomic or its Affiliate (as applicable) in transporting such Licensed Product; (c) cash,
quantity and trade discounts, rebates and other price reductions for such Licensed Product or Reference Laboratory Service given to customers under price reduction programs that are consistent with industry practices; (d) sales, use,
value-added and other direct taxes incurred on the sale of such Licensed Product and Reference Laboratory Service; (e) customs duties, surcharges and other governmental charges incurred in exporting or importing such Licensed Product and
(f) reimbursement decreases from list price 
  

 2 

 
due to insurance company, hospital or government reimbursement price reductions. Notwithstanding anything to the contrary in this Agreement, if any reusable instrument (that is itself a Licensed
Product) is used in combination with a separate diagnostic device (that is itself a Licensed Product) to detect or measure one or more analytes from a patient sample on or in such device, then for purposes of calculating Net Sales, such diagnostic
device shall constitute a Licensed Product, but such instrument shall not constitute a Licensed Product. 
 1.9     “Neurodegenerative Diagnostic Tests”     means proteomic neurodegenerative diagnostic screening tests performed as a series of blood serum tests designed to diagnose motor
neuron, cognitive, and other neurodegenerative disorders including, but not limited to, Alzheimer’s, Parkinson’s, Lou Gehrig’s disease (ALS), psychiatric diseases or movement disorders in individuals. The test monitors the
concentration of selected biomarkers residing in a panel of blood serum protein biomarkers to distinguish normal patients from those with neurodegenerative diseases, by applying a statistical model that evaluates the quantitative information of the
protein biomarkers and automatically assigning a probability score for the individual. 
 1.10    
“Person”     means an individual, corporation, partnership, limited liability company, trust, business trust, association, joint stock company, joint venture, pool, syndicate, sole proprietorship, unincorporated
organization, governmental authority or any other form of entity not specifically listed herein. 
 1.11    
“Power3”     means Power3 Medical, Inc., a New York corporation, and its Affiliates. 
 1.12     “Power3 Improvement”     means any and all intellectual property developed, created, reduced to practice, conceived, or otherwise made by Power3, its employees, agents or
independent contractors that are derived from or based upon the Licensed Technology. 
 1.13    
“Publications”     means the publicly available information describing Power3’s work with respect to Neurodegenerative Diagnostic Tests, including but not limited to published patents and patent applications
listed in Exhibit A, conference presentations and peer-reviewed publications. 
 1.14    
“Reference Laboratory Services”     shall mean use of a laboratory developed and laboratory validated test service that (a) is offered or sold by reference laboratories and/or service laboratories and
(b) is developed and validated in accordance with regulations promulgated under the Clinical Laboratory Improvement Amendments of 1988 (CLIA) (or under an equivalent subsequent legislation) for the evaluation of a Neurodegenerative Diagnostic
Test performed using a Licensed Product. 
 1.15     “Territory”    
means the entire world except for those territories listed on Exhibit B hereto. 
 1.16    
“Third Party”     means any Person other than Power3 and Transgenomic and their respective Affiliates. 
  

 3 

 1.17     “Transgenomic”     means
Transgenomic, Inc., a Delaware corporation. 
 1.18     “Transgenomic Common Stock”
    means the Common Stock, par value $0.01, of Transgenomic. 
 1.19
    “Transgenomic Improvements”     means any and all intellectual property developed, created, reduced to practice, conceived, or otherwise made by employees or independent contractors of
Transgenomic, in the course of performing any activities pursuant to this Agreement or under the license granted thereunder, and that are specific to the Licensed Technology. 
 ARTICLE 2  
 REPRESENTATIONS AND WARRANTIES OF POWER3

 Power3 hereby represents and warrants to Transgenomic as follows: 
 2.1     Corporate Existence and Power.     Power3 (a) is a corporation duly organized,
validly existing and in good standing under the laws of New York (b) has the corporate power and authority and the legal right to own and operate its property and assets, to lease the property and assets it operates under lease, and to carry on
its business as it is now being conducted and (c) is in compliance with all requirements of applicable law, except to the extent that any noncompliance would not have a material adverse effect on the properties, business, financial or other
condition of Power3 and would not materially adversely affect its ability to perform its obligations under this Agreement. 
 2.2     Authorization and Enforcement of Obligations.     Power3 (a) has the corporate power and authority to enter into this Agreement and to perform its obligations hereunder and
(b) has taken all necessary corporate action on its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder. This Agreement has been duly executed and delivered on behalf of Power3, and
constitutes a legal, valid, binding obligation, enforceable against Power3 in accordance with its terms. 
 2.3     No Consents.     All necessary consents, approvals and authorizations of all governmental authorities and other Persons required to be obtained by Power3 in connection with this
Agreement have been obtained. 
 2.4     Rights in Licensed Technology.
    Power3 is the legal and beneficial owner of all right, title and interest in and to the Licensed Technology or has sufficient rights thereto (including, without limitation, the rights under that certain license agreement
referred to in the next succeeding sentence), having good title or a valid license thereto, free and clear of any and all mortgages, liens, and security interests created by Power3. Power3 previously has delivered to Transgenomic a full and complete
copy, together with all amendments thereto, of the BCM License (defined in Section 4.7 of this Agreement). The BCM License is in full force and effect and neither party thereto is in default under the BCM License. Power3 shall comply with all
applicable laws, rules, and regulations of any governmental authority in the performance of its obligations under this Agreement. 
  

 4 

 2.5     Non-Infringement.     To the best
knowledge of Power3, the Licensed Technology does not infringe upon or unlawfully or wrongfully use any proprietary rights, including but not limited to patent rights, owned or claimed by a Third Party. Power3 has not received any notice of any
claim of infringement relating to the Licensed Technology. 
 ARTICLE 3  
 REPRESENTATIONS AND WARRANTIES OF TRANSGENOMIC 
 Transgenomic hereby represents and warrants to Power3 as follows: 
 3.1     Corporate Existence and Power.     Transgenomic (a) is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware; (b) has the
corporate power and authority and the legal right to own and operate its property and assets, to lease the property and assets it operates under lease, and to carry on its business as it is now being conducted and (c) is in compliance with all
requirements of applicable law, except to the extent that any noncompliance would not have a material adverse effect on the properties, business, financial or other condition of Transgenomic and would not materially adversely affect its ability to
perform its obligations under this Agreement. 
 3.2     Authorization and Enforcement of
Obligations.     Transgenomic (a) has the corporate power and authority and the legal right to enter into this Agreement and to perform its obligations hereunder and (b) has taken all necessary corporate action on
its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder. This Agreement has been duly executed and delivered on behalf of Transgenomic, and constitutes a legal, valid, binding obligation,
enforceable against Transgenomic in accordance with its terms. 
 3.3     No Consents.
    All necessary consents, approvals and authorizations of all governmental authorities and other Persons required to be obtained by Transgenomic in connection with this Agreement have been obtained. 
 3.4     Compliance with Laws.     Transgenomic shall comply with all applicable laws, rules,
and regulations of any governmental authority in the performance of its obligations under this Agreement. 
 ARTICLE 4

 LICENSE GRANT 
 4.1     Exclusive License.     On the terms and subject to the conditions of this Agreement, Power3 hereby grants to Transgenomic an exclusive,
royalty-bearing license for the Territory (together with the right to grant sublicenses) to research, develop, obtain regulatory approval for, commercialize, make, have made, use, have used, offer for sale and sell the Licensed Technology, the
Licensed Products, and the Reference Laboratory Services in connection with performing or having performed Neurodegenerative Diagnostic Tests. On the terms and subject to the conditions of this Agreement, the exclusive license granted (i)

  

 5 

 
with respect to Licensed Patent Rights, continues until the earlier of the expiration of such patents or the expiration or termination of this Agreement (provided that upon the expiration of any
such patent Transgenomic shall have a perpetual license in the technology covered by such patent in the Territory) and (ii) with respect to unpatented Licensed Technology, continues until the expiration or termination of this Agreement.

 4.2     Trademark Licensed.     Power3 hereby grants to
Transgenomic a license to use Power3’s NuroPro® trademark registered with the United States Patent and
Trademark Office in connection with the license granted in Section 4.1 and shall execute a license agreement for such trademark in the form of Exhibit C to this Agreement. 
 4.3.     Licensed Know How.     After the effective date of this Agreement, Power3 will make
available to Transgenomic all relevant Licensed Know How relating to the Licensed Patent Rights. 
 4.4    
Reservation of Rights.     Power3 retains all right, title and interest in and to the Licensed Technology other than those expressly granted in this Agreement. 
 4.5     365(n) of Bankruptcy Code.     All rights and licenses now or hereafter granted under
or pursuant to any Section of this Agreement, are rights to “intellectual property” (as defined in Section 101 (35A) of Title 11 of the United States Code, as amended (such Title 11, the “Bankruptcy Code”)). Power3
grants to Transgenomic and its Affiliates a right of access and to obtain possession of, and to benefit from copies of, (i) pre-clinical and clinical research data and results, (ii) laboratory and compound samples required to be delivered
to Transgenomic to the extent not previously delivered, all of which ((i) and (ii)) constitute “embodiments” of intellectual property pursuant to Section 365(n) of the Bankruptcy Code), and (iii) all other embodiments of such
intellectual property, whether any of the foregoing are in Power3’s possession or control or in the possession and control of Third Parties. 
 4.6     Sublicenses.     The right of Transgenomic to sublicense under this Agreement is subject to the following conditions: (a) in each such
sublicense, the sublicensee shall be prohibited from granting further sublicenses and shall be subject to the applicable terms and conditions of the license granted to Transgenomic under this Agreement; (b) in each such sublicense, Transgenomic
shall use its best efforts to obtain limitations of liability and indemnity protection for Power3 that are at least as comprehensive as that granted to Transgenomic; (c) Transgenomic shall forward to Power3, within thirty (30) days
following execution, a complete and accurate copy written in the English language of each sublicense granted hereunder; and (d) notwithstanding any such sublicense, Transgenomic shall remain primarily liable to Power3 for all of the duties and
obligations of Transgenomic contained in this Agreement. 
 4.7     Sublicense of Baylor College of
Medicine License.     For the avoidance of doubt, as a part of the Licensed Patent Rights included in the Licensed Technology, Power3 sublicenses to Transgenomic all technology licensed by Power3 as licensee under that
certain Exclusive License Agreement between Baylor College of Medicine (“BCM”) and Power 3, dated June 28, 2004, attached

  

 6 

 
hereto as a part of Exhibit A (the “BCM License”), subject to and in accordance with the terms and provisions of the BCM License. Transgenomic agrees to comply with the
requirements of the BCM License as applicable to sublicensees; provided that in the event that Power3 breaches any provision of the BCM License or receives any notice of default from BCM relating to a possible termination of the BCM License, Power3
shall immediately notify Transgenomic of such breach or notice and Transgenomic shall have the right, but not the obligation, to cure such default or to perform an act or duty of Power3 under the BCM License necessary to cure such default, and the
cost of such performance by Transgenomic, including but not limited to reasonable attorneys’ fees, shall be deducted from any payments otherwise due to Power3 under this Agreement. In the event of the termination of the BCM License as a result
of any insolvency, dissolution, bankruptcy or receivership proceedings of Power3, Power3 acknowledges that Transgenomic shall have the right, but not the obligation, to seek to enter into a new license agreement for all patents and technology
covered by the BCM License, directly with BCM, but subject to BCM’s consent and the payment by Transgenomic of any additional fees required by BMC; provided that Transgenomic shall continue to comply with its obligations to Power3 under this
Agreement, subject to its right to deduct the cost of any payments or performance required under the new license with BCM from any payments otherwise due to Power3 under this Agreement. Power3 shall not take any action to amend or terminate the BCM
License without the express advance written consent of Transgenomic. Power3 covenants to Transgenomic to duly and faithfully observe all terms and restrictions and perform all of the obligations imposed on Power3 under the BCM License, including
without limitation payment of all royalties, license fees and other payments. Power3 shall neither do nor permit anything to be done which would cause the BCM License to be terminated or forfeited by reason of any right of termination or forfeiture
reserved or vested in BCM under the BCM License. 
 ARTICLE 5  
 COMPENSATION 
 5.1    
Royalties.     In partial consideration for the license granted hereunder, during the term of this Agreement, Transgenomic shall pay to Power3 royalties as follows: 
 5.1.1     Transgenomic shall pay to Power3 royalties for the license granted in Section 4.1 at a rate (the
“Royalty Rate”) of 20% of Net Sales, but not to exceed 25% of the gross profit (as calculated pursuant to U.S. generally accepted accounting principles) derived by Transgenomic from such Net Sales; provided, however, such royalties shall
in no case be less than 10% of Net Sales. Such royalties shall be due and payable on a calendar quarterly basis and shall be submitted by Transgenomic along with the report as specified in Section 6.1 below. 
 5.2     Third Party Licenses.     If Transgenomic is reasonably required to take a license
under any Third Party patents to use the Licensed Technology as reasonably determined by Transgenomic, and Transgenomic’s total royalty burden for Net Sales exceeds the applicable Royalty Rate plus four percent (4%) (in sum, the
“Royalty Cap”), the Royalty Rate payable hereunder shall be reduced proportionally in accordance with the following formula: 
 R2 = Rlx (Royalty Cap/T) 
 Where: 
 Rl is the Royalty Rate 
 R2 is the adjusted reduced Royalty Rate hereunder

 T is the total royalty rates (on a percentage basis) due to all licensors 
  

 7 

 By way of example, if the Royalty Rate owed under Section 5.1.1. is 20% (Rl) and two additional patent
licenses are needed from two Third Parties and these two other royalty rates are 3% and 3.25% (total of 6.25%), the value of T is 26.25%, the Royalty Cap is 24% and the Royalty Rate due under this Agreement, as adjusted (R2), is 20 x (24% /26.25%)
or 18.29 %. 
 Notwithstanding the foregoing, in no event will the Royalty Rate due under this Agreement be reduced to less than
ten percent (10%) of Net Sales. 
 5.3     License Execution Fee. 
 5.3.1     Within three (3) days following execution of this Agreement Transgenomic shall deliver to Power3 via wire
transfer the amount of $100,000. 
 5.3.2     Within thirty (30) days following execution of this
Agreement Transgenomic shall create an account for funding Power3’s clinical validation efforts. These funds, referred to in Section 8.1 of this Agreement, shall be disbursed in the manner and subject to the conditions set forth in
Section 8.1 and the Disbursement Control Agreement referred to therein. 
 5.4     Milestone
Fees.     Transgenomic shall pay to Power3 the following milestone fees within thirty (30) days of the occurrence of the applicable milestone event: 
  

	 	•	 	 $15,000 upon publication of peer reviewed scientific journal article(s) on biomarkers, clinical validations, medical and scientific findings and
implications of the Alzheimer’s, Parkinson’s, and Lou Gehrig’s disease blood tests. 

	 	•	 	 Shares of Transgenomic Common Stock with an aggregate Fair Market Value of $100,000 upon the First Commercial Sale 

	 	•	 	 Shares of Transgenomic Common Stock with an aggregate Fair Market Value of $500,000 upon reaching a cumulative total of $15,000,000 of Net Sales

 For purposes of this Section 5.4, the “Fair Market Value” of each share of Transgenomic Common Stock means
the average of its market prices on each of the 20 trading days prior to the date for which the determination is being made, with each market price being the average of the high and low sale prices of the Transgenomic Common Stock as quoted on the
Nasdaq National Market System on such trading day, or, in the event that no such sale takes place on such day, the average of the reported closing bid and asked prices on such day, or, if the Transgenomic Common Stock is listed on a national
securities exchange, the average of the high and low sale prices reported on the principal national securities exchange on which the Transgenomic Common Stock is listed or admitted to trading on such trading day, or, if no such reported sale takes
place on such day, the average of the closing bid and asked prices on

  

 8 

 
such day on the principal national securities exchange on which the Transgenomic Common Stock is listed or admitted to trading, or, if the Transgenomic Common Stock is not quoted on such National
Market System nor listed or admitted to trading on a national securities exchange, the average of the closing bid and asked prices in the over-the-counter market on such day as reported through Nasdaq, or, if bid and asked prices for the
Transgenomic Common Stock on such day are not reported through Nasdaq, the average of the bid and asked prices for such day as furnished by any New York Stock Exchange member firm regularly making a market in the Transgenomic Common Stock selected
in good faith for such purpose by Transgenomic, or, if none of the foregoing is applicable, then the fair market value of the Transgenomic Common Stock as mutually determined in good faith by Transgenomic and Power3. 
 5.5     Sample Use and Reimbursement.     Power3 shall provide to Transgenomic samples for
use in its concordance and validation studies, such sample amounts and properties to be further specified by Transgenomic and to be agreed by Power3. Transgenomic shall reimburse Power3 for its full cost incurred as a result of such sample use;
provided, however, the payment referred to in Section 5.3.1 of this Agreement represents payment in full for all samples delivered to Transgenomic prior to the execution of this Agreement. 
 ARTICLE 6  
 ROYALTY REPORTS AND ACCOUNTING 
 6.1     Reports.     During the
term of this Agreement following the First Commercial Sale of a Licensed Product, Transgenomic shall furnish to Power3 a report for each calendar quarter showing in reasonably specific detail (a) the gross sales of Licensed Product sold by
Transgenomic or its Affiliates during the reporting period and the calculation of Net Sales from such gross sales; (b) the royalties payable in United States dollars, if any, which shall have accrued hereunder based upon Net Sales; (c) the
withholding taxes, if any, required by law to be deducted in respect of such sales; and (d) the date of the First Commercial Sale of the Licensed Product during the reporting period. Reports shall be due on the forty-fifth (45th) day
following the close of each calendar quarter. Transgenomic shall keep, and shall cause its Affiliates to keep, complete and accurate records in sufficient detail to properly reflect all gross sales and Net Sales and to enable the royalties payable
hereunder to be determined. Such records shall be maintained for a minimum of five (5) years from the end of the subject calendar year. 
 6.2     Audits.     Upon the written request of Power3, and not more than once in each calendar year, Transgenomic shall permit an independent certified
public accounting firm of nationally recognized standing, selected by Power3 and reasonably acceptable to Transgenomic, to have access during normal business hours to such of the records of Transgenomic and its Affiliates as may be reasonably
necessary to verify the accuracy of the reports delivered by Transgenomic hereunder for any year ending not more than thirty-six (36) months prior to the date of such request. The accounting firm shall disclose to Power3 only whether the
records and calculation of royalties are correct and the details concerning any specific discrepancies other than the amount of such discrepancy. No other information shall be shared. In the event that any audit report reveals an underpayment to
Power3, Transgenomic will immediately pay to Power3 the amount of such underpayment. Any such audit will be performed at Power3’s expense, provided that

  

 9 

 
the reasonable fees and expenses of such audit will be paid by Transgenomic if such audit reveals an underpayment by Transgenomic of more than ten percent (10%) or $10,000 (whichever is
greater) of the amounts payable by Transgenomic to Power3 in any twelve (12) month period. 
 6.3    
Confidential Financial Information.     Power3 shall treat all financial information subject to review under this Article 6 as Confidential Information pursuant to Article 9 below, and shall cause its accounting firm to
retain all such financial information in confidence. 
 ARTICLE 7  
 PAYMENTS 
 7.1     Payment
Terms.     Royalties shown to have accrued by each royalty report provided for under Article 6 of this Agreement shall be due and payable on the date such royalty report is due. 
 7.2     Payment Method.     All payments by Transgenomic to Power3 under this Agreement shall
be paid in United States Dollars, and all such payments shall be made by bank wire transfer in immediately available funds to such account as Power3 shall designate before such payment is due. 
 7.3     Taxes.     All payments under this Agreement will be made without any deduction or
withholding for or on account of any tax unless such deduction or withholding is required by applicable laws or regulations. If Transgenomic is so required to deduct or withhold, Transgenomic will (a) promptly notify Power3 of such requirement,
(b) pay to the relevant authorities the full amount required to be deducted or withheld promptly upon the earlier of determining that such deduction or withholding is required or receiving notice that such amount has been assessed against
Power3, and (c) promptly forward to Power3 an official receipt (or certified copy) or other documentation reasonably acceptable to Power3 evidencing such payment to such authorities, and provide any further assistance reasonably requested by
Power3 to enable Power3 to obtain the benefit of any such deduction. 
 7.4     Late
Fees.     Any payments required to be made by Transgenomic pursuant to this Agreement shall, if overdue, bear interest at the “prime rate” of interest as published by the Wall Street Journal for the first business
day following the due date, plus one percent (1%), or the maximum rate permitted by applicable law, whichever is less. The payment of such interest shall not preclude Power3 from exercising any other rights it may have because any payment is
overdue. 
 ARTICLE 8  
 DEVELOPMENT AND COMMERCIALIZATION OBLIGATIONS 
 8.1.     Continued Development.     Within thirty (30) days following the execution of this Agreement, Transgenomic shall create a bank account funded with the amount of One Hundred Fifty
Thousand Dollars ($150,000), said account to be owned by Transgenomic, and which funds will be used by Power3, with prior agreement by Transgenomic, to fund Power3’s clinical 
  

 10 

 
validation activities of the Neurodegenerative Diagnostic Tests; provided that the availability of such funds to Power3 shall be governed by the terms and conditions set forth in the Disbursement
Control Agreement attached hereto as Exhibit D. Clinical validation of the Neurodegenerative Diagnostic Tests shall be the responsibility of Power3 until such time, if any, as Transgenomic shall assume some or all of the future responsibility
for clinical validation of the Neurodegenerative Diagnostic Tests pursuant to Section 8.2. Power3 shall use commercially reasonable efforts for said development and shall keep Transgenomic informed about its progress in regular reports. Power3
shall disclose to Transgenomic the available technical and clinical performance data of the then-current version of its tests on regular basis, but in no event less often than monthly. 
 8.1.1     During the period of continued development of the Neurodegenerative Diagnostic Tests by Power3, Power3 shall:

  

	 	(a)	prepare an Operating Plan and Budget for the clinical validation activities; 

  

	 	(b)	provide suitable laboratory facilities, equipment and personnel for the work to be done in carrying out the clinical validation activities; 

  

	 	(c)	coordinate and obtain the approval of Transgenomic prior to the publication of research results obtained from such continued development activities;

  

	 	(d)	discuss with Transgenomic whether a license(s) need be obtained from any Third Person(s) in order to make, use or sell the Licensed Product; 

 

	 	(e)	determine, subject to the approval of Transgenomic, the priority of assays to be commercialized; 

  

	 	(f)	discuss the patent/intellectual property strategy and implementation plan for development and commercialization; 

  

	 	(g)	furnish Transgenomic with summary reports within fifteen (15) days after the end of each calendar quarter, describing its progress under the Operating Plan and
Budget; and 

  

	 	(h)	prepare and furnish to Transgenomic comprehensive written reports within thirty (30) days after the end of each calendar quarter describing in detail the work
accomplished by Power3 during such quarter and evaluating the results of such work. 

  

	 	(i)	Discuss the plan and timing of development by Transgenomic of next-generation high-throughput immunoassays and platforms, and the plan, timing and budget for the
supporting role to be taken by Power3 in these efforts. 

  

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 8.1.2     Power3 shall keep complete and accurate records of its
expenditures under the Operating Plan and Budget. Transgenomic shall have the right, at its own expense, to appoint an independent certified public accountant to examine such records, during regular business hours at the place or places where such
records are customarily kept, upon reasonable notice from Transgenomic, to the extent reasonably necessary to verify the accuracy of the expenditures and required reports. Transgenomic agrees to hold in confidence all information concerning such
expenditures, other than their total amounts, and all information learned in the course of any audit or inspection, except to the extent that it is necessary for Transgenomic to reveal the information in order to enforce any rights it may have
pursuant to this Agreement or if disclosure is required by law. Failure by Transgenomic to request verification of any expenditures within two years after such expenditure has been made shall be considered acceptance of the accuracy of such
expenditure, and Power3 shall have no obligation to maintain any records pertaining to such report or statement beyond the two-year period. 
 8.2     Assumption of Development by Transgenomic.     If, at any time during the term of this Agreement, Power3 breaches its obligations under this
Agreement or the Disbursement Control Agreement attached hereto as Exhibit D or Transgenomic is dissatisfied with Power3’s clinical validation activities of the Neurodegenerative Diagnostic Tests pursuant to this Agreement or such
Disbursement Control Agreement, Transgenomic may assume some or all of the responsibility for future development of the Neurodegenerative Diagnostic Tests if Power3 has not cured such breaches or the reasons for Transgenomic’s dissatisfaction
within forty-five (45) days after notice thereof by Transgenomic, which notice will specifically state the nature of such breaches or the reasons for such dissatisfaction in reasonable detail. In addition, Transgenomic may, in its discretion,
assume some or all of the responsibility for future development of the Neurodegenerative Diagnostic Tests at any time after the entire $150,000 referred to in Section 8.1 of this Agreement has been disbursed to Power3. At such time as
Transgenomic assumes responsibility for development of the Neurodegenerative Diagnostic Tests, Power3 shall transfer to Transgenomic the physical embodiment of all Licensed Technology useful or necessary for use in such future development
activities, including but not limited to (i) pre-clinical and clinical research data and results, (ii) laboratory and compound samples, (iii) all other embodiments of the Licensed Technology, whether any of the foregoing are in
Power3’s possession or control or in the possession and control of Third Parties. 
 ARTICLE 9  
 CONFIDENTIALITY 
 9.1     Confidential Information.     During the term of this Agreement, and for a period of five (5) years following the expiration or earlier termination hereof, each party shall
maintain in confidence all written information and data provided by one party to the other hereunder and marked “Confidential” or, if information disclosed orally, visually or in some other form, which is summarized in writing, is
confirmed in writing as “Confidential” to the other party within thirty (30) days of such disclosure (the “Confidential Information”), and shall not use, disclose or grant the use of the Confidential Information of the other
except on a need-to-know basis to those directors, officers, employees, agents, attorneys, accountants, advisors, counterparties and permitted assignees of it and its Affiliates, to the extent such disclosure is reasonably necessary in connection
with such party’s activities as expressly authorized by this Agreement. To the extent that disclosure is authorized by this Agreement, prior to disclosure, each party hereto shall obtain

  

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agreement of any such Person to hold in confidence and not make use of the Confidential Information for any purpose other than those permitted by this Agreement. Notwithstanding the foregoing,
all orally disclosed Licensed Know-How shall be deemed the Confidential Information of Power3 without marking or other designation. 
 9.2     Permitted Disclosures.     The confidentiality obligations contained in Section 9.1 of this Agreement shall not apply to the extent that (a) any receiving party (the
“Recipient”) is required (i) to disclose information by law, order or regulation of a governmental agency or a court of competent jurisdiction, or (ii) to disclose information to any governmental agency for purposes of obtaining
approval to test or market a product, provided in either case that the Recipient shall provide written notice thereof to the other party and sufficient opportunity to object to any such disclosure or to request confidential treatment thereof; or
(b) the Recipient can demonstrate that (i) the disclosed information was public knowledge at the time of such disclosure to the Recipient, or thereafter became public knowledge, other than as a result of actions of the Recipient in
violation hereof; (ii) the disclosed information was rightfully known by the Recipient (as shown by its written records) prior to the date of disclosure to the Recipient by the other party hereunder; or (iii) the disclosed information was
disclosed to the Recipient on an unrestricted basis from a source unrelated to any party to this Agreement and not under a duty of confidentiality to the other party. 
 9.3     Equitable Relief.     Each party hereby acknowledges and agrees that, in the event of any breach or threatened breach of this Article 9 by the
Recipient, the disclosing party may suffer irreparable injury for which damages at law may not be an adequate remedy. Accordingly, without prejudice to any other rights and remedies otherwise available to the disclosing party, the disclosing party
shall be entitled to seek equitable relief, including injunctive relief and specific performance, for any breach or threatened breach of this Article 9 by the Recipient, its Affiliates, or any of its or their employees, directors, officers, members,
agents, or representatives. 
 9.4     Non-Use of Names; Confidentiality of
Agreement.     Subject to Section 9.5, neither party shall make any public announcement, issue any press release or publish any study (collectively, all such communications, “Publication”) concerning the
transactions contemplated herein, or make any Publication which includes the name of the other party or any of its Affiliates, or otherwise use the name or names of the other party or any of their employees or any adaptation, abbreviation or
derivative of any of them, whether oral or written, related to the terms, conditions or subject matter of this Agreement, without the prior written permission of such other party, except as may be required by applicable law, regulation or judicial
order (and then only following consultation with the other party). Such permission may not unreasonably be withheld. 
  

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 9.5     Press Release.     The parties shall
issue a press release substantially in the form attached hereto as Exhibit E promptly after the execution of this Agreement. 
 ARTICLE 10  
 INTELLECTUAL PROPERTY 
 10.1     Ownership. 
 10.1.1     Assignment of Transgenomic Improvements.     Subject to a perpetual, exclusive, royalty-free (other than Transgenomic’s continuing
obligations to pay royalties as provided in Article 5 of this Agreement), world-wide license, with the right to sub-license, hereby retained by Transgenomic, Transgenomic hereby irrevocably assigns and agrees to assign to Power3 all worldwide right,
title and interest in and to Transgenomic Improvements. Transgenomic agrees that Transgenomic shall sign, execute and acknowledge or cause to be signed, executed and acknowledged (any out-of-pocket costs for which shall be at Power3’s sole
cost) any and all documents and to perform such acts as may be necessary, useful or convenient for the purposes of perfecting the foregoing assignment and obtaining, enforcing and defending intellectual property rights with respect to Transgenomic
Improvements. 
 10.1.2     Retention of Rights.     Except for the rights and
licenses expressly provided herein, Power3 and Transgenomic retain all of their respective worldwide right, title and interest in and to any intellectual property made, conceived or reduced to practice by or on behalf of Power3 and Transgenomic,
respectively. No licenses are granted by implication, estoppel or otherwise. 
 10.2     Actual or
Threatened Disclosure or Infringement.     If information comes to the attention of Transgenomic to the effect that any patent rights relating to a Licensed Product or Reference Laboratory Service, have been or are threatened
to be infringed, Transgenomic shall have the right, at its expense, to take such action as it may deem necessary to prosecute or prevent such infringement, including the right to bring or defend any suit, action or proceeding involving any such
infringement. Transgenomic shall notify Power3 promptly of the receipt of any such information and of the commencement of any such suit, action or proceeding. If Transgenomic determines that it is necessary or desirable for Power3 to join any such
suit, action or proceeding, Power3 shall execute all papers and perform such other acts as may be reasonably required to permit Transgenomic to act in Power3’s name. In the event that Transgenomic brings a suit, it shall be entitled to all sums
recovered in such suit or in its settlement without any further obligation to Power3. If Transgenomic does not, within 120 days after giving notice to Power3 of the above-described information, notify Power3 of Transgenomic’s intent to bring
suit against any infringer, Power3 shall have the right to bring suit for such alleged infringement, but it shall not be obligated to do so. Power3 may join Transgenomic as party plaintiff, if appropriate, in which event Power3 shall hold
Transgenomic free, clear and harmless from any and all costs and expenses of such litigation, including reasonable attorneys’ fees, and all sums recovered in any such suit or in its settlement shall belong to Power3 without any further
obligation to Transgenomic. Each party shall always have the right to be represented by counsel of its own selection and at its own expense in any suit instituted by the other for infringement, under the terms of this Section. If Transgenomic lacks
standing to bring any such suit, action or proceeding, then Power3 shall do so at the request of Transgenomic and at Transgenomic’s expense. 
  

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 10.3     Infringement Claims. 
 10.3.1     Defense of Infringement Claims.     Each party will cooperate with the other in
the defense of any suit, action or proceeding against either such party or any sublicensee of such party alleging the infringement of the intellectual property rights of a Third Person by reason of the use of the Licensed Technology in the
manufacture, use or sale of a Licensed Product or a Reference Laboratory Service. Each party shall give the other party prompt written notice of the commencement of any such suit, action or proceeding or claim of infringement and will furnish the
other party with a copy of each communication relating to the alleged infringement. The party defending any such suit or action shall have full authority (including the right to exclusive control of defense of any such suit, action or proceeding and
the exclusive right to compromise, litigate, settle or otherwise dispose of any such suit, action or proceeding), to defend or settle any such suit, action or proceeding. If the parties agree that the other party should institute or join any suit,
action or proceeding pursuant to this Section 10.3.1, the non-moving party may join the other party as a defendant if necessary or desirable, and each such party shall execute all documents and take all other actions, including giving
testimony, which may reasonably be required in connection with the prosecution of such suit, action or proceeding. 
 10.3.2     Costs of Infringement Claims.     With regard to a suit, action or proceeding brought against Transgenomic for infringement arising out of the use of the Licensed Technology by
Transgenomic, Power3 will be responsible for the costs incurred by Transgenomic under Section 10.3.1 above (“Infringement Litigation Costs”). Transgenomic may recover Infringement Litigation Costs from Power3 to the extent of all
royalties and milestone previously paid under this and Agreement and may recoup any excess amount of Infringement Litigation Costs from future royalties and milestones due to Power3. 
 10.4     Additional Patents. 
 10.4.1     Power3 shall decide whether (and where) to file any patent application relating to Improvements. Power3 may select counsel, prepare and prosecute such applications. Power3
shall be responsible for in all expenses incurred by such counsel. 
 10.4.2     In the event Power3 elects
not to file or elects not to continue prosecution of an application on any Improvement, Transgenomic may file and prosecute any such application(s) at its own expense. 
 10.4.3     In the event that Power3 determines that it is no longer interested in prosecuting or maintaining a particular patent application or granted patent included in Licensed
Patents, Power3 shall so inform Transgenomic in sufficient time to permit Transgenomic to assume the responsibility and expense for the further prosecution and/or maintenance of such application or patent. If Transgenomic assumes such responsibility
and expense, any expenses incurred by Transgenomic in prosecuting or maintaining such patent shall be deducted from future royalties or milestone payments due to Power3. 
  

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 ARTICLE 11  
 TERMINATION 
 11.1    
Expiration.     Subject to the provisions of Sections 11.2, 11.3 and 11.4 of this Agreement, this Agreement shall expire on the termination of Transgenomic’s obligation to pay royalties to Power3 under Article 5 of
this Agreement. 
 11.2     Termination by Transgenomic.     Transgenomic may
terminate this Agreement, in its sole discretion, upon ninety (90) days prior written notice to Power3. 
 11.3     Termination by Power3.     Power3 may terminate this Agreement, in its sole discretion, upon ninety (90) days prior written notice to Transgenomic if (i) the First Commercial
Sale has not occurred within 12 months after execution of this Agreement, unless such failure is due to events of force majeure referred to in Article 13 of this Agreement, or (ii) Power3 has not received at least $10,000 in royalties under
Section 5.1 prior to 18 months after execution of this Agreement, unless such failure is due to events of force majeure referred to in Article 13 of this Agreement; provided, however, Transgenomic may avoid the occurrence of the event described
in this clause by paying to Power3 prior to the expiration of such 90-day period an amount which, when added to the royalties paid to Power3 under Section 5.1, totals $10,000. 
 11.4     Termination for Cause.     Except as otherwise provided in Article 13 of this
Agreement, a party may terminate this Agreement upon or after the breach of any material provision of this Agreement by the other party if the other party has not cured such breach within forty five (45) days after notice thereof by the
non-breaching party. 
 11.5     Effect of Expiration or Termination.    
Expiration or termination of this Agreement shall not relieve the parties of any obligation accruing prior to such expiration or termination, and the provisions of Articles 9, 10, 12, 14 and 15 shall survive the expiration or termination of this
Agreement. 
 ARTICLE 12  
 INDEMNIFICATION 
 Transgenomic shall defend, indemnify and hold Power3
harmless from all losses, liabilities, damages, fines, penalties and expenses (including reasonable attorneys’ fees and costs) incurred by Power3 as a result of any Third Party claim, demand, action or other proceeding arising out of the
manufacture, use, sale, performance or other exploitation of the Licensed Technology by Transgenomic, or their respective customers or a breach of the warranty set forth in Section 3.4. Power3 shall defend, indemnify and hold Transgenomic
harmless from all losses, liabilities, damages, fines, penalties and expenses (including reasonable attorneys’ fees and costs) incurred by Transgenomic as a result of any Third Party claim, demand, action or other proceeding arising from a
breach by Power3 of the warranties set forth in Sections 2.4 or 2.5. If either party proposes to seek indemnification from the other party under the provisions of this Section 12.1, it shall notify the indemnifying party within thirty
(30) days of receipt of notice of any such claim or suit; provided, that the failure to notify shall not preclude a party’s obligations under this Section unless the failure to timely

  

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notify the other party materially prejudices the other party. The indemnified party shall have the right but not the obligation to participate in the defense of such claim, and the parties shall
mutually agree upon counsel and settlement terms with respect to any such claim. 
 ARTICLE 13  
 FORCE MAJEURE 
 Neither party shall be held liable or responsible to the other party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent, and for so long
as, such failure or delay is caused by or results from causes beyond the reasonable control of the affected party including but not limited to fire, floods, embargoes, war, acts of terror, acts of war (whether war be declared or not), insurrections,
riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority (including the FDA) or other party. The foregoing shall not apply to monetary obligations.

 ARTICLE 14  
 LIMITATION OF LIABILITY; WARRANTY DISCLAIMER 
 14.1    
Limitation of Liability.     EXCEPT FOR CLAIMS ARISING FROM BREACH OF ARTICLE 9 OR INFRINGEMENT OR MISAPPROPRIATION OF A PARTY’S INTELLECTUAL PROPERTY RIGHTS OR CLAIMS INDEMNIFIED HEREUNDER, IN NO EVENT SHALL
EITHER PARTY BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOSS OF PROFITS, REVENUE, DATA OR USE, INCURRED BY EITHER PARTY OR ANY THIRD PARTY, WHETHER IN AN ACTION IN CONTRACT OR TORT, EVEN IF THE OTHER
PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 
 14.2     Disclaimer of
Warranties.     EXCEPT AS EXPRESSLY WARRANTED IN THIS AGREEMENT, POWER3 DISCLAIMS AND TRANSGENOMIC HEREBY WAIVES ANY AND ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION REGARDING
THE SCOPE, COVERAGE, VALIDITY OR ENFORCEABILITY OF ANY OF THE LICENSED TECHNOLOGY AND REGARDING THE INTENDED USE BY TRANSGENOMIC OF THE LICENSED TECHNOLOGY OR LICENSED PRODUCTS (INCLUDING, BUT NOT LIMITED TO, ANY INFRINGEMENT, MISAPPROPRIATION OR
VIOLATION OF ANY INTELLECTUAL PROPERTY RIGHT OF ANY THIRD PARTY AND ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE). FURTHER, POWER3 MAKES NO REPRESENTATION OR WARRANTY THAT TRANSGENOMIC CAN SUCCESSFULLY MAKE, SELL OR USE
ANY LICENSED PRODUCTS. 
  

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 ARTICLE 15  
 MISCELLANEOUS 
 15.1    
Notices.     Any consent, notice or report required or permitted to be given or made under this Agreement by one of the parties hereto to the other party shall be in writing, delivered by any lawful means, and addressed to
such other party at its address indicated below, or to such other address as the addressee shall have last furnished in writing to the addressor and (except as otherwise provided in this Agreement) shall be effective upon receipt by the addressee as
evidenced by the delivery receipt. 
 If to Power3: 
 Power3 Medical Products, Inc. 
 3400 Research Forest Drive 
 Suite B2-3 
 The Woodlands, Texas 77381 
 Facsimile: 281-466-1481 
 If to Transgenomic: 
 Transgenomic, Inc. 
 12325 Emmet Street 
 Omaha, Nebraska 68164 
 Attn: Legal Department 
 Facsimile: 402-452-5461 
 15.2     Governing Law.     This Agreement
shall be governed by and construed in accordance with the laws of the State of Nebraska, without regard to the conflicts of law principles thereof. 
 15.3     Assignment.     Neither party shall assign its rights or obligations under this Agreement, in whole or in part, by operation of law or otherwise,
without the prior written consent of the other party, which consent shall not be unreasonably withheld; provided, however, that either party may assign this Agreement to the successor to all or substantially all of its assets or business to which
this Agreement relates or to a successor through a merger. Any purported assignment in violation of this Section 15.3 shall be void. 
 15.4     Waivers and Amendments.     No change, modification, extension, termination or waiver of this Agreement, or any of the provisions herein contained,
shall be valid unless made in writing and signed by duly authorized representatives of the parties hereto. 
 15.5     Entire Agreement.     This Agreement embodies the entire understanding between the parties and supersedes any prior understanding and agreements between and among them respecting the
subject matter hereof. There are no representations, agreements, arrangements or understandings, oral or written, between the parties hereto relating to the subject matter of this Agreement which are not fully expressed herein. 
  

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 15.6     Severability.     Any of the
provisions of this Agreement which are determined to be invalid or unenforceable in any jurisdiction shall be ineffective to the extent of such invalidity or unenforceability in such jurisdiction, without rendering invalid or unenforceable the
remaining provisions hereof and without affecting the validity or enforceability of any of the terms of this Agreement in any other jurisdiction. 
 15.7     Waiver.     The waiver by either party hereto of any right hereunder or the failure to perform or of a breach by the other party shall not be deemed
a waiver of any other right hereunder or of any other breach or failure by said other party whether of a similar nature or otherwise. 
 15.8     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 constitute one and the same
instrument. 
 15.9     Relationship of Parties.     Nothing in this Agreement or
in the course of business between Power3 and Transgenomic shall make or constitute either Party a partner, employee or agent of the other and the relationship between the Parties is not a partnership, joint venture or agency. Neither Party shall
have any right or authority to commit or legally bind the other in any way whatsoever including, without limitation, the making of any agreement, representation or warranty. 
 15.10     Resolution of Disputes.     In the event of any dispute or disagreement between the
parties either in interpreting any provision of this Agreement or about the performance of either party and upon the written request of either party (“Dispute Notice”), each of the parties will appoint a designated representative to
attempt to resolve such dispute or disagreement. The designated representatives will discuss the problem and negotiate in good faith in an effort to resolve the dispute without any formal proceedings. The specific format of such discussion shall be
left to the discretion of the designated representatives. In the event a dispute is not resolved within thirty (30) days following the date of the Dispute Notice, the parties agree to proceed to mediation under the Mediation Rules of the
American Arbitration Association and to conclude such mediation within ninety (90) days following the date of the Dispute Notice. If the parties are unable to agree upon a mutually convenient place for the mediation, the mediation shall take
place in Omaha, Nebraska. Each party will pay its own costs, plus an equal share of the cost of the mediator and mediation facilities. If any dispute is not resolved by mediation, then either party in its sole discretion may invoke litigation,
provided that failure to invoke litigation shall not be a waiver of any such dispute. During any mediation or litigation which arises out of a dispute, all parties will continue to proceed pursuant to the provisions of this Agreement without
prejudice to the rights of such parties under this Agreement. Notwithstanding the foregoing, either party shall have the right, without waiving any right or remedy available to such party under this Agreement or otherwise, to seek and obtain from
any court of competent jurisdiction any interim or provisional relief that is necessary or desirable to protect the rights or property of such party, pending the discussions and negotiations set forth above. 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth
above. 
  

			
	P0WER3 MEDICAL PRODUCTS, INC.
		
	By	 	/s/ Helen R. Park
	Title	 	Interim CEO
	
	TRANSGENOMIC, INC.
		
	By	 	/s/ Craig J. Tuttle
	Title	 	President & CEO

  

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