Document:

Exhibit
10.1

 

Service
pricing information in Section 3 of this agreement has been redacted based on the registrant’s determination the information
is not material and would likely cause competitive harm.

 

 

COVID-19
LABORATORY SERVICES AGREEMENT

 

This
Covid-19 Laboratory Services Agreement (“Agreement”) is made between Co-Diagnostics, Inc., a Utah corporation having
its principal place of business at 2401 South Foothill Drive, Suite D, Salt Lake City, UT 84109 (hereinafter “Client”),
and Arches Research, Inc., a Nevada corporation having its principal place of business at 1960 S 4250 W, Salt Lake City, UT 84104
(hereinafter “Arches”) (each referred to individually as a “Party” and collectively as the “Parties”).
When signed by both Parties, this Agreement will set forth the terms and conditions under which Arches agrees to provide certain
services to Client as set forth herein.

 

Recitals:

 

WHEREAS,
Client is a medical diagnostic products and services company engaged, in part, in the business of marketing test kits (“Kits”)
for SARS-CoV-2 (“CoV-2”);

 

WHEREAS,
Client is pursuing a logistics business pursuant to which Client will manage all aspects of delivering Kits to end users of the
Kits (“Customers”), collecting Kits from Customers after specimens are collected, and delivering Kits to a pre-selected
testing laboratory (the “Logistics Business”);

 

WHEREAS,
Arches is a provider of laboratory testing services and is registered under the Clinical Laboratory Improvement Amendments (CLIA),
CLIA Certificate No.: 46D2182352;

 

WHEREAS,
Arches performs testing for the detection of CoV-2 in specimens collected from individuals; and

 

WHEREAS,
Client desires to engage Arches as a provider of laboratory testing services for the Logistics Business and Arches desires to
provide such services, and to that end the Parties wish to enter into this Agreement to provide the terms and conditions upon
which Client engages Arches to perform validated tests to detect coronavirus RNA following applicable CLIA and FDA standards (the
“Services”).

 

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

 

	1.	PERFORMANCE
    DUTIES OF ARCHES.

 

Arches
shall:

 

	 	A.	Perform
    validated tests to detect CoV-2 RNA (the “Services”) following applicable CLIA standards and standards set by
    the U.S. Food and Drug Administration (“FDA”). The Parties explicitly acknowledge that the duty of Arches to provide
    Services is subject to the availability of governmental Emergency Use Authorizations and other emergency regulatory flexibility.
	 	 	 
	 	B.	Process
    CoV-2 tests on Customer specimens received using commercially reasonable efforts; provided, however, that in no event shall
    Arches be obligated to process more than 500 tests during the period ending November 30, 2020, and 1,000 tests thereafter
    on Customer specimens, in the aggregate, during any 24-hour period beginning at 12:00 a.m. Mountain Time, on the weekdays
    Monday through Friday, excluding U.S. national holidays, Christmas Eve, and New Year’s Eve (the “Test Cap”).
	 	 	 
	 	C.	Retain
    processed specimens for a period of at least 24 hours, or until laboratory test results are provided to the Customer providing
    the specimens.
	 	 	 
	 	D.	Dispose
    of specimens and waste associated with the Services in compliance with law and Arches’ safety policies.
	 	 	 
	 	E.	Establish
    and maintain a system for communicating directly with Customers (the “Customer Portal”) to (i) collect information
    reasonably required to perform Services for the Customers, (ii) obtain the Customers’ orders for Services issued, in
    each case, by an authorized healthcare professional, (iii) deliver reports on specimen test results to Customers, and (iv)
    exchange any other information or documents pertaining to the performance of Services for Customers. Arches has no obligation
    to perform Services for any Customer that does not provide the information and documents reasonably required by Arches, including
    an order for Services issued by an authorized healthcare professional.

 

    	 

     

    

 

	 	F.	Respond
    to Customer communications sent to Arches through the Customer Portal no later than 5:00, p.m., Mountain Time, on the day
    following the day the communication from the Customer is received by Arches and such day following the communication is any
    of Monday through Saturday (excluding U.S. national holidays, Christmas Eve, and New Year’s Eve).
	 	 	 
	 	G.	Deliver
    a report on specimen test results to each Customer within 72 hours of Arches’ receipt of the specimen.
	 	 	 
	 	H.	Report
    data for all testing completed, for each individual tested, within 24 hours of results being known or determined, on a daily
    basis to the appropriate state or local public health department based on the individual’s residence in accordance with
    federal, state, and local law.

 

	2.	PERFORMANCE
    DUTIES OF CLIENT.

 

Client
shall:

 

	 	A.	Manage
    all aspects of its Logistics Business except for the Services provided by Arches to Customers hereunder, including but not
    limited to providing at Client’s sole cost all Kits required by Customers, and arranging at Client’s sole cost
    all shipping and delivery of Kits to Customers and shipping and delivery of specimens collected with the Kits from Customers
    to Arches. Customer Kits shall be delivered to Arches’ facility at 1960 S 4250 W, Salt Lake City, UT 84104. Delivery
    hours are between 7:00 a.m. and 5:00 p.m., Mountain Time, Monday through Saturday, excluding U.S. national holidays.
	 	 	 
	 	B.	Provide
    to Arches a work order for each Customer of the Logistics Business in the form attached hereto as Exhibit A (“Work Order”),
    that lists the name and address of the Customer of the Logistics Business, an estimate of the number of Kits the Customer
    will order from Client, the estimated date of delivery of Kits by Client to the Customer, and the contact information for
    Customer, including name, title, phone number, and email address. At the time each Work Order is issued by Client to Arches,
    Client will send to the Customer (with a copy to Arches) an email with instructions for accessing the Customer Portal. The
    foregoing notwithstanding, Arches may reject or terminate any Work Order in its sole discretion with no further duty to provide
    Services and no liability to Client or Customer if Customer does not provide to Arches the information, order for Services
    issued by an authorized healthcare professional, or other documents required of Customer through the Customer Portal.
	 	 	 
	 	C.	Bill
    Customers for the use of the Logistics Business. Client has the sole right to bill for specimen testing provided in connection
    with the Logistics Business, and Arches has no right to bill or collect any amount from Customers for the Services. Client
    has sole responsibility and risk with respect to the collection of billings to Customers, and the obligation of Client to
    make payment to Arches for the Services provided to Customers pursuant to this Agreement is not contingent upon, or in any
    way related to, whether Client bills Customers or collects on its bills to Customers.
	 	 	 
	 	D.	Use
    commercially reasonable efforts to manage the timing and flow of Work Orders from Client to Arches so that the number of Customer
    CoV-2 tests requested from time to time does not exceed the Test Cap.
	 	 	 
	 	E.	Not
    pay commissions earned through this Agreement to any referring healthcare provider or make any payments prohibited by law.

 

	3.	Payment
    of Fees

 

Client
will pay Arches for testing at the rate of $[ ] per test if 500 tests or fewer are processed on a single day between the hours
of 12:00 a.m. and 11:59 p.m. Mountain Time. Client will pay Arches for testing at the rate of $[ ] per test if more than 500 tests
are processed on a single day between the hours of 12:00 a.m. and 11:59 p.m. Mountain Time. If Client requests results within
24 hours of Arches’ receipt of the specimen, an additional $[ ] per test STAT fee will be added to the per test rate. Arches
will invoice Client on or around the first dayt of each month for the Services performed and Client shall pay each
invoice within 15 days of receipt of the invoice. If any portion of an invoice is disputed, then Client shall pay the undisputed
amounts as set forth in the preceding sentence and the Parties shall use good faith efforts to reconcile the disputed amount as
soon as practicable. Client shall pay Arches interest in an amount equal to one percent per month (or the maximum lesser amount
permitted by law) of all undisputed amounts owing hereunder and not paid within 30 days of the date of the invoice.

 

    	2

     

    

 

	4.	CONFIDENTIALITY

 

As
used in this Agreement, the term “Confidential Information” means any and all proprietary nonpublic information, knowledge,
data, and all other content and materials belonging to either Party hereto and disclosed or provided to the other Party either
directly or indirectly in any manner whatsoever, including, without limitation, in writing, orally, electronically, in all types
of hard drives, disks, diskettes, computer memory or storage, or other media, or by drawings or inspection of physical items,
and whether or not modified or merged into other materials. Confidential Information disclosed under this Agreement shall be used
by the receiving Party and its employees only for purposes of performing the receiving Party’s obligations hereunder. Each
Party agrees that it will not reveal, publish or otherwise disclose the Confidential Information of the other Party to any third
party without the prior written consent of the disclosing Party. Each Party agrees that it will not disclose the terms of this
Agreement to any third party without the written consent of the other Party, which shall not unreasonably be withheld. These obligations
of confidentiality and nondisclosure shall remain in effect for a period of one year after the completion or termination of this
Agreement. The foregoing obligations shall not apply to Confidential Information to the extent that it: (a) is or becomes generally
available to the public other than as a result of a disclosure by the receiving Party; (b) becomes available to the receiving
Party on a non-confidential basis from a source which is not prohibited from disclosing such information; (c) was developed independently
of any disclosure by the disclosing Party or was known to the receiving Party prior to its receipt from the disclosing Party,
as shown by contemporaneous written evidence; or, (d) is required by law or regulation to be disclosed.

 

	5.	Independent
    Contractor Relationship.

 

For
the purposes of this Agreement, the Parties hereto are independent contractors and nothing contained in this Agreement shall be
construed to place them in the relationship of partners, principal and agent, employer/employee or joint venturers. Neither Party
shall have the power or right to bind or obligate the other Party, and neither Party shall hold itself out as having such authority.

 

	6.	Compliance
    with laws AND POLICIES.

 

	 	A.	Both
    Parties shall be responsible for complying with any and all applicable laws, regulations, obligations and guidelines in relation
    to the Services, including those established under or by CLIA, FDA, and of all other regulatory agencies having jurisdiction
    over the Logistics Business and Services.
	 	 	 
	 	B.	Medicare
    payment for a clinical diagnostic laboratory test may be made only to the person or entity that performs or supervises the
    performance of the test, subject to certain exceptions. 42 U.S.C. § 1395l(h). One of these exceptions permits Medicare
    payment to be made in the case of a test performed at the request of a laboratory (a “referring laboratory”) by
    another laboratory (a “reference laboratory”) if certain conditions are satisfied, but only if the reference laboratory
    is a Medicare-enrolled laboratory. Client acknowledges that Arches is not a Medicare-enrolled laboratory and, therefore, Medicare
    payment may not be made for the Services. Client further acknowledges that it has provided written notification to any of
    its contracted providers who may bill third-party payors for the Logistics Business (including the Services) that Arches is
    not a Medicare-enrolled laboratory and that Medicare payment may not be made for the Services.
	 	 	 
	 	C.	Client
    shall comply with applicable third-party payor rules and policies with regard to reimbursement for the Services. In addition,
    Client shall seek representations from its contracted providers who may bill third-party payers for the Services that they
    will also comply with applicable third-party payor rules and policies with regard to reimbursement for the Services.
	 	 	 
	 	D.	Client
    shall comply with applicable federal and state anti-markup payment limitations with regard to reimbursement for the Services.
    In addition, Client shall seek representations from its contracted providers who may bill third-party payors for the Services
    that they will also comply with applicable federal and state anti-markup payment limitations with regard to reimbursement
    for the Services.

 

    	3

     

    

 

	 	E.	Neither
    Party, nor its principals, is a Sanctioned Person or Entity. For purposes of this Agreement, the term “Sanctioned Person
    or Entity” means a person or entity that: (i) has been, or currently is, excluded pursuant to 42 U.S.C. §1320a-7
    or similar state exclusion authority, suspended, debarred, or otherwise ineligible to participate in any federal health care
    program as that term is defined in 42 U.S.C. §1320a-7b(l) or comparable state programs; (ii) has been convicted of a
    criminal offense related to the provision of health care items or services or any other offense that may lead to exclusion
    under 42 U.S.C. §1320a-7 or investigation or otherwise aware of any circumstances (including the receipt of any notice,
    warning or reprimand) which may result in being excluded from participation in any federal or state health care program. If
    any change in circumstance occurs to make the foregoing statement inaccurate, one Party must notify the other Party in writing
    immediately and the other Party shall have the right to immediately terminate this Agreement.

 

	7.	Indemnification.

 

	 	A.	Client
    shall indemnify, defend and hold harmless Arches and its parent, subsidiaries, affiliates, co-venturers, representatives,
    and contractors along with their respective directors, officers, shareholders, employees, subcontractors and agents from and
    against any and all claims, demands, actions, causes of actions, losses, damages, costs, expenses and other liabilities, and
    expenses, costs of litigation and attorneys’ fees (collectively, the “Liabilities”) related to, resulting
    from, or arising out of (a) any breach by Client of any of its obligations under this Agreement, or (b) the negligence of
    Client. Arches shall indemnify, defend and hold harmless Client from and against any and all Liabilities to the extent resulting
    from or arising out of (a) any breach by Arches of its obligations under this Agreement or (b) the negligence of Arches.
	 	 	 
	 	B.	If
    either Party intends to claim indemnification under Section 9.A, the Party seeking indemnification (“Claiming Party”)
    shall promptly notify the other Party (“Indemnifying Party”) in writing of any Liabilities in respect of which
    the Claiming Party intends to claim such indemnification. Claiming Party shall permit Indemnifying Party, at its discretion,
    to settle any such Liabilities and agrees to the complete control of such defense or settlement by Indemnifying Party. Claiming
    Party shall cooperate fully with Indemnifying Party and its legal representatives in the investigation and defense of any
    of the Liabilities covered by this indemnification. Claiming Party shall have the right, but not the obligation, to be represented
    by counsel of its own selection and expense. Claiming Party shall not negotiate, compromise or settle any claim, action, suit
    or judgment without Indemnifying Party’s prior written consent.
	 	 	 
	 	C.	NEITHER
    PARTY WILL BE LIABLE FOR LOSS OF USE, LOSS OF PROFITS OR OTHER COLLATERAL, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES. ARCHES’
    TOTAL LIABILITY ARISING UNDER THIS AGREEMENT SHALL BE LIMITED TO THE TOTAL AMOUNT OF COMPENSATION PAID BY CLIENT TO ARCHES
    HEREUNDER DURING THE 12 MONTHS IMMEDIATELY PRECEDING ANY CLAIM, ACTION OR SUIT CREATING THE LIABILITY.
	 	 	 
	 	D.	Each
    Party acknowledges that the mutual promises contained in this Section 9 reflect the allocation of risk set forth in this Agreement,
    that each Party would not enter into this Agreement without these limitations on liability, and such limitations shall remain
    in full effect even if any of the remedies provided in this Agreement are deemed by a court of competent jurisdiction to have
    failed of their essential purpose.

 

	8.	Termination.

 

Either
Party may terminate this Agreement without cause at any time during the term of the Agreement on sixty (60) days’ prior
written notice to the other Party. Either Party may terminate this Agreement for material breach upon thirty (30) days’
written notice specifying the nature of the breach, if such breach has not been substantially cured within the thirty (30) day
period. During the 30-day cure period for termination due to breach, each Party will continue to perform its obligations under
the Agreement. If the termination notice is not due to a breach, or if the cure period has expired without a substantial cure
of the breach, then the Parties shall promptly meet to prepare a close-out schedule, and Arches shall cease performing all work
not necessary for the orderly close-out of the Services or required by applicable laws or regulations. If Arches determines, in
its sole discretion, that its continued performance of the Services would constitute a potential or actual violation of regulatory
or scientific standards of integrity or violate complaince with applicable laws or regulations, then Arches may terminate the
Services by giving written notice stating the effective date (which may be less than thirty days from the notice date) of such
termination. Either Party may terminate this Agreement immediately upon provision of written notice if the other Party becomes
insolvent or files for bankruptcy. This Agreement shall be deemed to be terminated upon the occurrence of any of the following:
(i) the suspension, revocation or cancellation of Arches’ CLIA registration; or (ii) the imposition of any restrictions
or limitations by any governmental authority having jurisdiction over either Arches or the Client to such an extent that either
Party cannot provide the Services or obligations contemplated by this Agreement, specifically the end of Emergency Use Authorizations
or other Covid-19 regulatory flexibility.

 

    	4

     

    

 

	9.	Relationship
    with Affiliates.

 

Client
agrees that Arches may use the services of its corporate affiliates to fulfill Arches’ obligations under this Agreement.
Any affiliate so used shall be subject to all of the terms and conditions applicable to Arches under this Agreement, and entitled
to all rights and protections afforded Arches under this Agreement. Arches agrees that Client’s affiliates may use the services
of Arches (and its affiliates) under this Agreement. In such event, such Client’s affiliates shall be bound by all the terms
and conditions of this Agreement and entitled to all rights and protections afforded Client under this Agreement. The term “affiliate”
shall mean all entities controlling, controlled by or under common control with Client or Arches. The term “control”
shall mean the ability to vote fifty percent (50%) or more of the voting securities of any entity or otherwise having the ability
to influence and direct the polices and direction of an entity.

 

	10.	Force
    Majeure.

 

In
the event either Party shall be delayed or hindered in or prevented from the performance of any act required hereunder by reasons
of strike, lockouts, labor troubles, inability to procure materials or services, failure of power or restrictive government or
judicial orders, or decrees, riots, insurrection, war, Acts of God, inclement weather or other reason or cause beyond that Party’s
control, then performance of such act (except for the payment of money owed) shall be excused for the period of such delay. Both
Parties recognize that this Agreement is to help address the Covid-19 pandemic and will excuse late or non-performance related
to Covid-19.

 

	11.	Notices
    and Deliveries.

 

Any
notice required or permitted to be given hereunder by either Party hereunder shall be in writing and shall be deemed given on
the date received if delivered personally or by a reputable overnight delivery service, or three (3) days after the date postmarked
if sent by registered or certified mail, return receipt requested, postage prepaid to the following address identified below,
as follows:

 

	If
    to Arches:	If
    to Client:
	Arches
                                         Research, Inc.

        1960
        S 4250 W

        Salt
        Lake City, UT 84104

        With
        a Copy to:

        contracts@archesresearch.com
	Co-Diagnostics,
                                         Inc.

        2401
        South Foothill Drive, Suite D

        Salt
        Lake City, UT 84109

 

	12.	Binding
    Agreement and Assignment.

 

This
Agreement shall be binding upon and inure to the benefit of Client and Arches and their respective successors and permitted assigns.
Except as stated above in Section 11 regarding Affiliates, neither Party may assign any of its rights or obligations under this
Agreement to any party without the express, written consent of the other Party.

 

	13.	Choice
    of Law, Waiver and Enforceability.

 

This
Agreement shall be construed, governed, interpreted, and applied in accordance with the laws of the State of Utah, exclusive of
its conflicts of law provisions. The failure to enforce any right or provision herein shall not constitute a waiver of that right
or provision. Any waiver of a breach of a provision shall not constitute a waiver of any subsequent breach of that provision.
If any provisions herein are found to be unenforceable on the grounds that they are overly broad or in conflict with applicable
laws, it is the intent of the Parties that such provisions be replaced, reformed or narrowed so that their original business purpose
can be accomplished to the extent permitted by law, and that the remaining provisions shall not in any way be affected or impaired
thereby.

 

    	5

     

    

 

	14.	REAGENT
    RENTAL AGREEMENT.

 

Client
and Arches are parties to the Rental Agreement for LGC Oktopure Extraction Machine of even date herewith (the “Rental Agreement”).
In the event the Rental Agreement is terminated for any reason and not replaced with a new agreement of like tenor, Arches shall
not be deemed to be in breach of, or have any liability for, any delay in performing the Services described in Sections 1.B or
1.G of this Agreement. In the event this Agreement is terminated for any reason, Arches may, at its election, terminate the Rental
Agreement without further obligation to Client under the Rental Agreement by written notice given by Arches to Client within 60
days following the date this Agreement terminates, and termination of the Rental Agreement will be effective as of the date specified
in the notice given by Arches to Client.

 

	15.	Survival.

 

The
rights and obligations of Client and Arches, which by intent or meaning have validity beyond such termination (including, but
not limited to, rights with respect to inventions, confidentiality, discoveries and improvements, indemnification and liability
limitations) shall survive the termination of this Agreement.

 

	16.	Entire
    Agreement, Headings and Modification.

 

This
Agreement, together with any attachment(s) contains the entire understandings of the Parties with respect to the subject matter
herein, and supersedes all previous agreements (oral and written), negotiations and discussions. The descriptive headings of the
sections of this Agreement are inserted for convenience only and shall not control or affect the meaning or construction of any
provision hereof. Any modifications to the provisions herein must be in writing and signed by the Parties.

 

Signature
Page Follows

 

    	6

     

    

 

IN
WITNESS WHEREOF, this Agreement has been executed by the Parties hereto through their duly authorized officers on the date(s)
set forth below.

 

	Arches
    Research, Inc. 	 	Co-Diagnostics,
    Inc.
	 	 	 	 	 
	Name:
    	Richard
    Hague	 	Name:
    	Reed
    Benson
	 	 	 	 	 
	Title:
    	COO	 	Title:	CFO
	 	 	 	 	 
	Signature:
    	/s/
    Richard Hague	 	Signature:	/s/
    Reed Benson
	 	 	 	 	 
	Date:
    	September
    2, 2020	 	Date:
    	September
    2, 2020

 

    	7

     

    

 

Exhibit
A

Work
Order No. [  ]

Arches
Project Code: [  ]

 

This
Work Order is issued under the COVID-19 Laboratory Services Agreement dated September 2, 2020, between Co-Diagnostics, Inc. (“Client”)
and Arches Research, Inc. (“Arches”), as the same may be amended from time to time (the “Agreement”).
To the extent there is any conflict between any terms and conditions of this Work Order and the Agreement, the terms and conditions
of the Agreement shall control. Conflicting or differing terms set forth in this Work Order shall be of no force or effect. Capitalized
terms used herein shall have the same meaning ascribed thereto in the Agreement.

 

	Effective
    Date of Work Order:	 	 
	Type
    of Testing:	 	[  ] One Time Testing

        [  ] Ongoing Testing

	Estimated
    Number of Tests per Week*:	 	 
	State
    of Origin of Specimens to be Tested:	 	 
	 	 	 
	Customer
    Name:	 	 
	Customer Address:

                                                                               

                                                                                

                                                                                
	 	 

	Customer
    Contact:	 	 
	Name		 
	Phone
    Number	 
	Email
    Address	 
	 	 	 
	Remarks:

                                                                                            

                                                                                            

                                                                                            

	Authorized
    Client Representative:	 	 
	Print
    Name		 
	Signature

                                                                                

                                                                                 
		 

 

*Client
is billed under the Agreement for the total number of Kits tested by Arches for the Customer and not on the basis of any estimate.

 

    	8Exhibit
10.2

 

 

Pricing
information in Exhibit B to this agreement has been redacted based on the registrant’s determination the information is
not material and would likely cause competitive harm.

 

Rental
Agreement for LGC Genomics Oktopure Extraction Machine

 

Agreement
made on this 2nd day of September, 2020, between Co-Diagnostics, Inc., a Utah corporation (herein after called “CoDx”)
with offices at 2401 S. Foothill Dr., Suite D, Salt Lake City, Utah 84109 and Arches Research, Inc., a Utah corporation (“Arches”),
with a lab located at 1960 S. 4250 W. Salt Lake City, Utah 84104.

 

WHEREAS,
CoDx sells testing reagents for use with hardware to provide real-time polymerase chain reaction testing (“PCR”) for
COVID-19 and various diseases and Arches conducts testing services including PCR based tests; and,

 

WHEREAS,
from time to time businesses, governmental agencies, schools and other entities contact CoDx regarding testing services and CoDx
desires to engage Arches pursuant to the COVID-19 Laboratory Services Agreement of even date herewith (“Services Agreement”)
to provide testing services for customers which desire such services; and,

 

WHEREAS,
Arches desires to increase its capacity to test for COVID using CoDx Logix Smart COVID-19 tests, but needs to have a high throughput
extraction machine and CoDx has agreed to provide such a machine to facilitate the purchase of more of its tests on the following
terms and conditions.

 

Terms
and Conditions

 

1.
       Appointment & Acceptance – CoDx agrees to purchase and place
a LGC Genomics manufactured high throughput extraction machine (“Oktopure”) at the Arches lab. Arches agrees to use
the Oktopure to increase the number of COVID tests it can perform. The details of Oktopure is described more completely in Exhibit
A.

 

2.
       Term of Agreement – The term of this agreement is 12 months. Following
the end of the Term, the agreement may be extended for a specific period of time subject to the written mutual agreement and understanding
of both parties or until terminated by either party in writing upon 30 days prior notice.

 

3.       Minimum
Exclusive Purchase – Arches agrees that it will only use reagents supplied by CoDx in performing PCR tests for its
customers in testing for COVID. Arches agrees to purchase a minimum of 10,000 tests per calendar month from CoDx. In addition,
Arches will purchase all of the consumables required for operation of the Oktopure from CoDx and listed on Exhibit B. The purchase
of reagents and extraction consumables will be at mutually agreed purchase prices as shown in Exhibit B. Tests acquired to perform
services under the Services Agreement will count towards the 10,000 tests per month required under this Agreement.

 

    	 

     

    

  

 

4.       Oktopure.
(a) Due Care of Oktopure. Arches warrants and represents that the Oktopure shall be used only in the manner intended
and Arches will exercise reasonable care to prevent loss or damage to the Oktopure and not permit the Oktopure or any part thereof
to be used by anyone other than employees of Arches or its affiliates; (b) Ownership. The Oktopure is, and shall at all
times remain, the sole and exclusive property of CoDx, and Arches shall have no right, title or interest therein except as expressly
set forth in these terms and conditions; (c) Assignment or Transfer prohibited. Arches agrees that the Oktopure is not
for resale. Resale or attempted resale of the Oktopure shall result in the immediate termination of this Agreement; and (d) Return
of Oktopure. Arches agrees to return the Oktopure listed in Exhibit A at its cost within 10 days of the expiration or termination
of this agreement in good working order, reasonable wear and tear accepted. If the Oktopure is lost or damaged, Arches shall be
liable for the cost of repair or if lost for the full depreciated cost of the Oktopure.

 

5.       Price
– Test Reagents and extraction consumables will be supplied throughout the duration of this Agreement as mentioned
in Exhibit B. The prices are subject to change by mutual agreement of the parties based on market fluctuations but shall not increase
earlier than six months from the date hereof.

 

6.
       Ordering, Delivery, Credit Policy and Terms of Payment – Orders
are to be placed by Arches via Purchase Order to CoDx 30 days in advance of the anticipated delivery date. Payment terms will
be Net 30 days from date of invoice. In the event the invoice is paid in full in 15 days a cash discount of 2% of the invoice
price will allowed. 18% per annum interest rate shall be automatically applied to all outstanding balances not paid on or before
the due date from the due date to the date paid in full.

 

7.       Reagent
Usage – Arches agrees to share results of reagent usage with CoDx; provided that this obligation is limited by the
limits and restrictions imposed under applicable privacy and health information laws. CoDx shall not be held accountable for Reagents
contaminated after receipt by Arches, and the Reagent Usage clause shall not be affected by any such contamination. Arches will
be responsible to maintain the inventory after receiving the test reagent as recommended by CoDx.

 

8.       CoDx
Oktopure Warranty – CoDx will be responsible for the repair or replacement of malfunctioning Oktopure without charge
during the term as long as Arches Oktopure has not damaged the Oktopure through improper use or care. CoDx makes no other warranties,
express or implied, or of merchantability or fitness for use, for the Oktopure. CoDx will not be responsible for any consequential
or incidental damages resulting from the use, or improper functioning of the Oktopure. Such damages, for which CoDx will not be
responsible include, but are not limited to, loss of revenue or profit, down time costs, loss of use of the Oktopure, contamination
of Oktopure resulting from improper or insufficient decontamination measures, cost of any substitute Oktopure or services or claims
of Arches’s customers for such damages.

 

9.       Trademarks,
Trade Names, and Trade Dress – All sales and rentals are made with the understanding that the CoDx trademarks, Trade
Names, Trade Dress, and original packaging will not be misused.

 

10.       Governing
Law – The Agreement is governed by the laws of the State of Utah without regard to any applicable conflicts or choice
of law provisions. The exclusive venue for any judicial action or proceeding arising out of this Agreement shall be the state
or federal courts located in Salt Lake City, Utah. The parties hereby consent to the jurisdiction of said courts and waive any
objection that venue in such courts is inconvenient. The prevailing party in any judicial action or proceeding arising out of
this Agreement shall be entitled to recover from the non-prevailing party, in addition to any other rights and remedies hereunder,
at law or in equity, its reasonable costs, fees, and expenses, including reasonable attorneys fees and court costs.

 

11.       Termination
of Agreement – CoDx reserves the right to terminate this agreement if any one of the conditions stated in this agreement
is not met by Arches including, but not limited to, the minimum monthly purchase requirement or failure to make timely payments
on reagents or extraction consumables ordered by Arches.

 

12.       Notice
– Any notice required to be given hereunder shall be given in writing, by personal delivery, or by certified or
registered mail, return receipt requested, sent to the party at its address set forth on the signature page hereto, or such other
address as may be specified by notice given in accordance herewith. Notice shall be deemed given upon receipt by the party to
which it is sent or refusal to accept delivery.

 

13.       Entire
Agreement - This document is the entire agreement between the parties with respect to the subject matter hereof.

 

 

Innovating
Revolutionary Molecular Diagnostics

 

2401
S Foothill Dr. Ste D Salt Lake City, UT 84109 USA (801) 438-1036 www.codiagnostics.com

 

    	 

     

    

 

 

IN
WITNESS WHEREOF, this Agreement has been executed by the Parties hereto through their duly authorized officers on the date(s)
set forth below.

 

	Arches
    Research, Inc. 	 	Co-Diagnostics,
    Inc.
	 	 	 	 	 
	Name:
    	Richard
    Hague	 	Name:
    	Reed
    Benson
	 	 	 	 	 
	Title:
    	COO	 	Title:	CFO
	 	 	 	 	 
	Signature:
    	/s/
    Richard Hague	 	Signature:
    	/s/
    Reed Benson
	 	 	 	 	 
	Date:
    	September
    2, 2020	 	Date:
    	September
    2, 2020

 

Innovating
Revolutionary Molecular Diagnostics

 

2401
S Foothill Dr. Ste D Salt Lake City, UT 84109 USA (801) 438-1036 www.codiagnostics.com

 

    	 

     

    

 

 

Exhibit
A

 

Details
of Oktopure:

Serial
Numbers: 09-00191

 

Instruction
for use will provided.

 

CoDx
will be responsible for the Installation and Qualification of the machine and providing necessary documentation support.

 

Installation
report will be signed by both the parties upon successful installation and qualification.

 

Required
training will be provided by CoDx to the operating personnel and also will be responsible for trouble-shooting in the case of
any time during the contract period.

 

Innovating
Revolutionary Molecular Diagnostics

 

2401
S Foothill Dr. Ste D Salt Lake City, UT 84109 USA (801) 438-1036 www.codiagnostics.com

 

    	 

     

    

 

 

Exhibit
B

 

	Test
    Reagents	 	Price
	A
    Logix Smart COVID-19 test	 	$[  ] per reaction *
	B
    sbeadex RNA extraction (LGC)	 	$[  ] per reaction
	C	 	 
	D	 	 
	E	 	 

 

Sales
taxes will be charged on sales of all reagents and extraction consumables.

Prices
subject to change upon 30 days prior written notice.

 

*Volume
purchase at one time will receive price break for Logix Smart COVID-19 Test.

 

250
Reaction Size Kit:

40-99
kits (10,000-24,750 reaction) = $[  ]

100-199
kits (25,000-49,750 reactions) = $[  ]

200-
399 kits (50,000-99,750 reactions) = $[  ]

400
or more kits (100,000 or more reactions) = $[  ]

 

5000
Reaction Size Kit:

2-4
kits (10,000-20,000 reactions) = $[  ]

5-9
kits (25,000-45,000 reactions) = $[  ]

10-19
kits (50,000-95,000 reactions) =$[  ]

20-49
kits (100,000-245,000 reactions) = $[  ]

50
or more kits (250,000 or more reactions) = $[  ]

 

Innovating
Revolutionary Molecular Diagnostics

 

2401
S Foothill Dr. Ste D Salt Lake City, UT 84109 USA (801) 438-1036 www.codiagnostics.com

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