Document:

Exhibit 10.69

 

ESCROW DEPOSIT AGREEMENT

 

This ESCROW DEPOSIT
AGREEMENT (this “Agreement”) dated as of this 10th day of February 2016, by and among SHINECO,
INC., a Delaware corporation (the “Company”), having an address at Room 3106, Building B, #39 East 3rd Ring
Middle Road, Chaoyang District, Beijing 100022, People’s Republic of China, BONWICK CAPITAL PARTNERS LLC, a FINRA
member firm as underwriter (the “Underwriter”), as representative of the underwriters, including itself and
Network 1 Financial Securities, Inc., having an address at 40 West 57th Street, 28th Floor, New York, NY
10019, and SIGNATURE BANK (the “Escrow Agent”), a New York State chartered bank, having an office at
565 Fifth Avenue, 12th Floor, New York, New York 10017. All capitalized terms not herein defined shall have the meaning ascribed
to them in that certain Registration Statement on Form S-1 of the Company, as initially publicly filed March 16, 2015 (Registration
No. 333-202803), as amended or supplemented from time-to-time, including all attachments, schedules and exhibits thereto (the “Registration
Statement”).

 

W I T N E
S S E T H:

 

WHEREAS, pursuant
to the terms of the Registration Statement the Company desires to sell (the “Offering”) a minimum of
$8,000,000 (the “Minimum Amount”) and a maximum of $10,000,000 (the “Maximum Amount”) of
its shares (the “Shares”). Each Share is being sold at a price of $5.00 per Share, (share prices and number
of Shares are subject to change pending final effective Registration Statement); and

 

WHEREAS, unless
the Minimum Amount is sold by July 1, 2016 (the “Termination Date”), the Offering shall terminate and all funds
shall be returned to the subscribers in the Offering, and if the Minimum Amount is met, the Offering may continue until the Termination
Date; and

 

WHEREAS, the
Company and Underwriter desire to establish an escrow account with the Escrow Agent into which the Company and Underwriter shall
instruct Investors introduced to the Company by Underwriter (the “Investors”) to deposit checks and other instruments
for the payment of money made payable to the order of “Signature Bank as Escrow Agent for Shineco, Inc.,” and
Escrow Agent is willing to accept said checks and other instruments for the payment of money in accordance with the terms hereinafter
set forth; and

 

WHEREAS, the
Company, as issuer, and Underwriter, as an introducing broker-dealer, represent and warrant to the Escrow Agent that they will
comply with all of their respective obligations under applicable state and federal securities laws and regulations with respect
to sale of the Offering; and

 

WHEREAS, the
Company and Underwriter represent and warrant to the Escrow Agent that they have not stated to any individual or entity that the
Escrow Agent’s duties will include anything other than those duties stated in this Agreement; and

 

    	Escrow Deposit Agreement – Public Offering
	 1	Rev. 05/2015

     

    

 

WHEREAS, the
Company and Underwriter warrant to the Escrow Agent that a copy of each document that has been delivered to Investors and
third parties that include Escrow Agent’s name and duties, has been attached hereto as Schedule I.

 

NOW, THEREFORE,
IT IS AGREED as follows:

 

1.Delivery of Escrow Funds.

 

(a) Underwriter
and the Company shall instruct Investors to deliver to Escrow Agent checks made payable to the order of “Signature Bank,
as Escrow Agent for Shineco, Inc.,” or wire transfer to Signature Bank, 950 Third Avenue, 9th Floor, New York, NY 10022,
ABA No. 026013576 for credit to Signature Bank, as Escrow Agent for Shineco, Inc., Account No. 1502647489, in each case, with the
name and address of the individual or entity making payment. In the event any Investor’s address is not provided to Escrow
Agent by the Investor, then Underwriter and/or the Company agree to promptly provide Escrow Agent with such information in writing.
The checks or wire transfers shall be deposited into a non interest-bearing account at Signature Bank entitled “Shineco,
Inc., Signature Bank, as Escrow Agent” (the “Escrow Account”).

 

(b)The collected
funds deposited into the Escrow Account are referred to as the “Escrow Funds.”

 

(c)The Escrow Agent
shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account.
If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of
the Escrow Agent shall be to return the check to the Investor and advise the Company and Underwriter promptly thereof.

 

(d) Funds
or checks received by the Underwriter shall be forwarded to the Escrow Agent by noon of the next business day following the date
of receipt thereof by the Underwriter.

 

2.Release of Escrow Funds. The
Escrow Funds shall be paid by the Escrow Agent in accordance with the following:

 

(a)In the event
that the Company and Underwriter advise the Escrow Agent in writing that the Offering has been terminated (the “Termination
Notice”), the Escrow Agent shall promptly return the funds paid by each Investor to said Investor without interest or
offset.

 

(b) Reserved.

 

(c) Provided that
the Escrow Agent does not receive the Termination Notice in accordance with Section 2(a) and there is the Minimum Amount deposited
into the Escrow Account on or prior to the Termination Date, the Escrow Agent shall, upon receipt of written instructions, in the
form of Exhibit A, attached hereto and made a part hereof, or in a form and substance satisfactory to the Escrow Agent,
received from the Company and Underwriter, pay the Escrow Funds in accordance with such written instructions, such payment or payments
to be made by wire transfer within one (1) business day of receipt of such written instructions. Such instructions must be received
by the Escrow Agent no later than 3:00 PM Eastern Time on a Banking Day for the Escrow Agent to process such instructions that
Banking Day.

 

    	Escrow Deposit Agreement – Public Offering
	 2	Rev. 05/2015

     

    

 

(d)If by 3:00 P.M.
Eastern time on the later of the Termination Date, the Escrow Agent has not received written instructions from the Company and
Underwriter regarding the disbursement of the Escrow Funds or the total amount of the Escrow Funds is less than the Minimum Amount,
then the Escrow Agent shall promptly return the Escrow Funds to the Investors without interest or offset. The Escrow Funds returned
to each Investor shall be free and clear of any and all claims of the Escrow Agent.

 

(e)The Escrow Agent
shall not be required to pay any uncollected funds or any funds that are not available for withdrawal.

 

(f)If the Termination
Date or any date that is a deadline under this Agreement for giving the Escrow Agent notice or instructions or for the Escrow Agent
to take action is not a Banking Day, then such date shall be the Banking Day that immediately preceding that date. A “Banking
Day” is any day other than a Saturday, Sunday or a day that a New York State chartered bank is not legally obligated
to be opened.

 

3.Acceptance by Escrow Agent.
The Escrow Agent hereby accepts and agrees to perform its obligations hereunder, provided that:

 

(a)The Escrow Agent
may act in reliance upon any signature believed by it to be genuine, and may assume that any person who has been designated by
Underwriter or the Company to give any written instructions, notice or receipt, or make any statements in connection with the provisions
hereof has been duly authorized to do so. Escrow Agent shall have no duty to make inquiry as to the genuineness, accuracy or validity
of any statements or instructions or any signatures on statements or instructions. The names and true signatures of each individual
authorized to act singly on behalf of the Company and Underwriter are stated in Schedule II, which is attached hereto and
made a part hereof. The Company and Underwriter may each remove or add one or more of its authorized signers stated on Schedule
II by notifying the Escrow Agent of such change in accordance with this Agreement, which notice shall include the true signature
for any new authorized signatories.

 

(b)The Escrow Agent
may act relative hereto in reliance upon advice of counsel in reference to any matter connected herewith. The Escrow Agent shall
not be liable for any mistake of fact or error of judgment or law, or for any acts or omissions of any kind, unless caused by its
willful misconduct or gross negligence.

 

(c)Underwriter
and the Company agree to indemnify and hold the Escrow Agent harmless from and against any and all claims, losses, costs, liabilities,
damages, suits, demands, judgments or expenses (including but not limited to reasonable attorney’s fees) claimed against
or incurred by Escrow Agent arising out of or related, directly or indirectly, to this Escrow Agreement unless caused by the Escrow
Agent’s gross negligence or willful misconduct.

 

(d)In the event
that the Escrow Agent shall be uncertain as to its duties or rights hereunder, the Escrow Agent shall be entitled to (i) refrain
from taking any action other than to keep safely the Escrow Funds until it shall be directed otherwise by a court of competent
jurisdiction, or (ii) deliver the Escrow Funds to a court of competent jurisdiction.

 

    	Escrow Deposit Agreement – Public Offering
	 3	Rev. 05/2015

     

    

 

(e)The Escrow Agent
shall have no duty, responsibility or obligation to interpret or enforce the terms of any agreement other than Escrow Agent’s
obligations hereunder, and the Escrow Agent shall not be required to make a request that any monies be delivered to the Escrow
Account, it being agreed that the sole duties and responsibilities of the Escrow Agent shall be to the extent not prohibited by
applicable law (i) to accept checks or other instruments for the payment of money and wire transfers delivered to the Escrow Agent
for the Escrow Account and deposit said checks and wire transfers into the non-interest bearing Escrow Account, and (ii) to disburse
or refrain from disbursing the Escrow Funds as stated above, provided that the checks received by the Escrow Agent have been collected
and are available for withdrawal.

 

4.Escrow Account Statements and
Information. The Escrow Agent agrees to send to the Company and/or the Underwriter a copy of the Escrow Account periodic
statement, upon request in accordance with the Escrow Agent’s regular practices for providing account statements to its non-escrow
clients and to also provide the Company and/or Underwriter, or their designee, upon request other deposit account information,
including Escrow Account balances, by telephone or by computer communication, to the extent practicable. The Company and Underwriter
agree to complete and sign all forms or agreements required by the Escrow Agent for that purpose. The Company and Underwriter each
consent to the Escrow Agent’s release of such Escrow Account information to any of the individuals designated by Company
or Underwriter, which designation has been signed in accordance with Section 3(a) by any of the persons in Schedule II. 
Further, the Company and Underwriter have an option to receive e-mail notification of incoming and outgoing wire transfers. If
this e-mail notification service is requested and subsequently approved by the Escrow Agent, the Company and Underwriter agrees
to provide a valid e-mail address and other information necessary to set-up this service and sign all forms and agreements required
for such service. The Company and Underwriter each consent to the Escrow Agent’s release of wire transfer information to
the designated e-mail address(es). The Escrow Agent’s liability for failure to comply with this section shall not exceed
the cost of providing such information.

 

5.Resignation and Termination of
the Escrow Agent. The Escrow Agent may resign at any time by giving 30 days’ prior written notice of such resignation
to Underwriter and the Company. Upon providing such notice, the Escrow Agent shall have no further obligation hereunder except
to hold as depositary the Escrow Funds that it receives until the end of such 30-day period. In such event, the Escrow Agent shall
not take any action, other than receiving and depositing Investors checks and wire transfers in accordance with this Agreement,
until the Company has designated a banking corporation, trust company, attorney or other person as successor. Upon receipt of such
written designation signed by Underwriter and the Company, the Escrow Agent shall promptly deliver the Escrow Funds to such successor
and shall thereafter have no further obligations hereunder. If such instructions are not received within 30 days following the
effective date of such resignation, then the Escrow Agent may deposit the Escrow Funds held by it pursuant to this Agreement with
a clerk of a court of competent jurisdiction pending the appointment of a successor. In either case provided for in this Section,
the Escrow Agent shall be relieved of all further obligations and released from all liability thereafter arising with respect to
the Escrow Funds.

 

    	Escrow Deposit Agreement – Public Offering
	 4	Rev. 05/2015

     

    

 

6.Termination. The Company and
Underwriter may terminate the appointment of the Escrow Agent hereunder upon written notice specifying the date upon which such
termination shall take effect, which date shall be at least 30 days from the date of such notice. In the event of such termination,
the Company and Underwriter shall, within 30 days of such notice, appoint a successor escrow agent and the Escrow Agent shall,
upon receipt of written instructions signed by the Company and Underwriter, turn over to such successor escrow agent all of the
Escrow Funds; provided, however, that if the Company and Underwriter fail to appoint a successor escrow agent within
such 30-day period, such termination notice shall be null and void and the Escrow Agent shall continue to be bound by all of the
provisions hereof. Upon receipt of the Escrow Funds, the successor escrow agent shall become the escrow agent hereunder and shall
be bound by all of the provisions hereof and Escrow Agent shall be relieved of all further obligations and released from all liability
thereafter arising with respect to the Escrow Funds and under this Agreement.

 

7.Investment and Rule 15c2-4 Compliance.
All funds received by the Escrow Agent shall be held only in non-interest bearing bank accounts at Escrow Agent and disbursed in
compliance with Rule 15c2-4 of the Securities and Exchange Commission promulgated under the Exchange Act of 1934, as amended.

 

8.Compensation. Escrow Agent
shall be entitled, for the duties to be performed by it hereunder, to a fee of $4,000.00, which fee shall be paid by the Company
upon the signing of this Agreement. In addition, the Company shall be obligated to reimburse Escrow Agent for all fees, costs and
expenses incurred or that become due in connection with this Agreement or the Escrow Account, including reasonable attorney’s
fees. Neither the modification, cancellation, termination or rescission of this Agreement nor the resignation or termination of
the Escrow Agent shall affect the right of Escrow Agent to retain the amount of any fee which has been paid, or to be reimbursed
or paid any amount which has been incurred or becomes due, prior to the effective date of any such modification, cancellation,
termination, resignation or rescission. To the extent the Escrow Agent has incurred any such expenses, or any such fee becomes
due, prior to any closing, the Escrow Agent shall advise the Company and the Company shall direct all such amounts to be paid directly
at any such closing.

 

9.Notices. All notices, requests,
demands and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been
duly given if sent by hand-delivery, by facsimile (followed by first-class mail), by nationally recognized overnight courier service
or by prepaid registered or certified mail, return receipt requested, to the addresses set forth below:

 

    	Escrow Deposit Agreement – Public Offering
	 5	Rev. 05/2015

     

    

 

If to Underwriter:

 

Bonwick Capital Partners

40 West 57th Street, 28th Floor

New York, NY 10019

Attention:
Daniel J. McClory, Managing Director

Fax: +1 949
266 5789

 

With a copy
to:

 

Sichenzia
Ross Friedman Ference LLP

61 Broadway,
32nd Floor

New York,
New York 10006

Attention:
Marc J. Ross

Fax: +1 (212)
930- 9725

 

If to the Company:

 

Room 3106,
Building B

#39 East
3rd Ring Middle Road

Chaoyang
District

Beijing 100022

People’s
Republic of China

Attention:
Yuying Zhang, CEO

Fax: +1 (888)
360-9092

 

With a copy
to:

 

 Kaufman
& Canoles, P.C.

Two James Center, 14th
Floor

1021 E. Cary St.

Richmond, VA 23219

Attention: Anthony W.
Basch

Fax: +1 (888) 360-9092

 

If to Escrow Agent:

 

Signature Bank

950 Third Avenue, 9th
Floor

New York, New York 10022

Attention: John Gonzalez,
Senior Vice President

Fax: +1 646 822 1520

 

10.General.

 

(a)This Agreement
shall be governed by and construed and enforced in accordance with the laws of the State of New York applicable to agreements made
and to be entirely performed within such State, without regard to choice of law principles and any action brought hereunder shall
be brought in the courts of the State of New York, located in the County of New York. Each party hereto irrevocably waives any
objection on the grounds of venue, forum nonconveniens or any similar grounds and irrevocably consents to service of process by
mail or in any manner permitted by applicable law and consents to the jurisdiction of said courts. EACH OF THE PARTIES HERETO HEREBY
WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT.

 

    	Escrow Deposit Agreement – Public Offering
	 6	Rev. 05/2015

     

    

 

(b)This Agreement
sets forth the entire
agreement and understanding of the parties with respect to the matters contained herein and supersedes all prior agreements, arrangements
and understandings relating thereto.

 

(c)All of the terms
and conditions of this Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the parties hereto,
as well as their respective successors and assigns.

 

(d)This Agreement
may be amended, modified, superseded or canceled, and any of the terms or conditions hereof may be waived, only by a written instrument
executed by each party hereto or, in the case of a waiver, by the party waiving compliance. The failure of any party at any time
or times to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same.
No waiver of any party of any condition, or of the breach of any term contained in this Agreement, whether by conduct or otherwise,
in any one or more instances shall be deemed to be or construed as a further or continuing waiver of any such condition or breach
or a waiver of any other condition or of the breach of any other term of this Agreement. No party may assign any rights, duties
or obligations hereunder unless all other parties have given their prior written consent.

 

(e)If any provision
included in this Agreement proves to be invalid or unenforceable, it shall not affect the validity of the remaining provisions.

 

(f)This Agreement
and any modification or amendment of this Agreement may be executed in several counterparts or by separate instruments and all
of such counterparts and instruments shall constitute one agreement, binding on all of the parties hereto.

 

11.Form of Signature. The parties
hereto agree to accept a facsimile transmission copy of their respective actual signatures as evidence of their actual signatures
to this Agreement and any modification or amendment of this Agreement; provided, however, that each party who produces
a facsimile signature agrees, by the express terms hereof, to place, promptly after transmission of his or her signature by fax,
a true and correct original copy of his or her signature in overnight mail to the address of the other party.

 

12. No Third-Party Beneficiaries.  This
Agreement is solely for the benefit of the parties and their respective successors and permitted assigns, and no other person has
any right, benefit, priority, or interest under or because of the existence of this Agreement.

 

[Signature Page Follows]

 

    	Escrow Deposit Agreement – Public Offering
	 7	Rev. 05/2015

     

    

 

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

 

	SHINECO, INC.	 	BONWICK CAPITAL PARTNERS LLC
	 	 	 	 	 	 	 
	By:  	/s/ Yuying Zhang	 	By:	/s/ Daniel J. McClory
	 	Name:  	Yuying ZHANG	 		Name:	Daniel J. McClory
	 	Title:	Chief Executive Officer	 		Title:	Managing Director
	 	 	 	 	 	 	 
	 	 	 	 	By:  	/s/ Rashaun Williams
	 	 	 	 		Name:     	Rashaun Williams
	 	 	 	 		Title:	Partner

 

SIGNATURE BANK

 

	By:  	/s/ John D. Gonzalez	 	 	 	 
	 	Name:  	John D. Gonzalez	 	 	 	 
	 	Title:	Group Director / SVP	 	 	 	 
	 	 	 	 	 	 	 
	By:	/s/ Stephen Fay	 	 	 	 
	 	Name:	Stephen Fay	 	 	 	 
	 	Title:	Senior Client Associate	 	 	 	 

  

    	Escrow Deposit Agreement – Public Offering
	 8	Rev. 05/2015

     

    

 

Schedule
I

 

OFFERING DOCUMENTS

 

    	Escrow Deposit Agreement – Public Offering
	 9	Rev. 05/2015

     

    

 

Schedule
II

 

The Escrow Agent is
authorized to accept instructions signed or believed by the Escrow Agent to be signed by any one of the following on behalf of
the Company and Underwriter.

 

SHINECO, INC.

 

	Name	 	True Signature
	 	 	 
	 	 	 

 

BONWICK CAPITAL PARTNERS LLC

 

	Name	 	True Signature
	 	 	 
	 	 	 
	 	 	 
	 	 	 

  

    	Escrow Deposit Agreement – Public Offering
	 10	Rev. 05/2015

     

    

 

Exhibit A

 

FORM OF ESCROW RELEASE NOTICE

 

Date:

 

Signature Bank

950 Third Avenue, 9th Floor

New York, New York 10022

 

Attention: [name & title
of Group Director]

 

Dear _________:

 

In accordance with the terms of Section
2(c) of an Escrow Deposit Agreement dated as of ________ __, 2016 (the "Escrow Agreement"), by and between SHINECO,
INC. (the "Company"), Signature Bank (the "Escrow Agent") and BONWICK CAPITAL PARTNERS LLC (the
"Underwriter"), the Company and Underwriter hereby notify the Escrow Agent that the ________ closing will be held on
___________ for gross proceeds of $_________.

 

PLEASE DISTRIBUTE FUNDS BY WIRE TRANSFER
AS FOLLOWS (wire instructions attached):

 

________________________:       $ 

 

________________________:       $ 

 

________________________:       $ 

 

Very truly yours,

 

SHINECO, INC.

 

	By:	 	 
	Name: 	 	 
	Title:	 	 

 

BONWICK CAPITAL PARTNERS LLC

 

	By:	 	 
	Name: 	 	 
	Title:	 	 

  

    	Escrow Deposit Agreement – Public Offering
	 11	Rev. 05/2015EX-10.1

 Exhibit 10.1 
  

 
 SERVICES AGREEMENT 

This Agreement is entered into March 31, 2016 between Signature Analytics San Diego LLC (“SA”) and MediciNova, Inc.
(“Client”). 
 1. Services. During the term of this Agreement, SA will provide financial and accounting services as agreed from time
to time by Client and SA (“Services”). The Services shall initially include Service by Ryan Selhorn, SA’s employee, as Chief Financial Officer of Client and service by another employee of SA reasonably acceptable to Client as
Client’s Controller. All such Services shall be performed by SA and its agents in conformity with the highest professional and ethical standards generally accepted as applicable to such Services. The initial term of this Agreement will be from
the date hereof until March 31, 2017 with automatic annual renewals thereafter. However, Client or SA may terminate this Agreement at any time upon delivery of termination notice. Any notices under this Agreement may be delivered by hand, email,
U.S. mail or courier. SA will hire, fire and control its Service Providers, and will report and pay all of their applicable income tax withholdings, disability, unemployment, workers’ compensation, employee benefits, and similar items. 

2. Fees. Client will pay fees to SA in the amounts and on the terms stated below. 

 

					
	 Service Providers
	  	Pre-paid Rate	  	Rate Net 20
	 CFO
	  	$225-$275/hr	  	$250-305/hr
	 Controller
	  	$140-$195/hr	  	$155-220/hr
	 Accounting Manager
	  	$120-$135/hr	  	$135-150/hr
	 Senior Accountant
	  	$100-$110/hr	  	$110-125/hr
	 Staff Accountant
	  	$65-$85/hr	  	$75-95/hr

 To be eligible for the Pre-Payment Rate, Client must provide a credit card to be charged approximately the 5th of each month. A minimum of $10,000 will be charged each month as a Pre-Payment for the current month’s services plus any amount due for the work performed the previous month greater than the
Pre-Payment amount. Invoices will be delivered on approximately the 1st of each month. A 3% processing fee will be added for credit card charges.    Delinquent payments
past the 30 day period will be subject to a 10% per annum late fee and Client will be responsible to pay any collection or related legal expenses. SA may change pricing upon delivery of notice to Client. 

3. Nondisclosure. SA will not transfer, use, publish or disclose Client’s financial data and records (“Confidential Information”)
except for the purposes of this Agreement. These restrictions will not apply to information that: (a) is already known by SA at the time of receipt; (b) becomes publicly known through no wrongful act of SA; (c) is rightfully received from a third
party without obligation of confidentiality; or (d) is required to be disclosed by applicable law. 
 4. Placement. During the term of this Agreement
and for 6 months thereafter, if Client directly or indirectly hires any Service Provider assigned to Client, either as a full-time or part-time employee or independent contractor, it is agreed Client will pay SA the following placement fee(s): CFO
$85,000; Controller $60,000; Accounting Manager $40,000; Senior Accountant $25,000; and Staff Accountant $20,000. Client acknowledges that if Client hires any of the Service Providers: (a) SA invested substantial time and money to locate, hire and
train its Service Providers, and SA will be required to do so again, (b) each of SA’s Service Providers perform similar, concurrent services for multiple SA clients, so SA will be required to cover its other clients, and (c) the unique nature
of SA’s business model creates additional risks and costs. Therefore, Client and SA agree these fees accurately reflect the reasonable value of SA’s time, costs and other financial considerations. 

5. Limiting Conditions. All Services will be subject to the following conditions: (a) all statements, communications, results, reviews, reports and
other deliverables provided by SA (the “SA Reports”) will be provided for the use of Client with respect to Client’s disclosure and reporting obligations under The Securities Act of 1933 and The Securities Exchange Act of 1934,
in each case as amended (the “Acts”), the rules and regulations promulgated under the Acts and Client’s obligations as the issuer of securities listed on one or more stock exchanges; and (b) SA has not been engaged to express
an opinion as independent auditor regarding Client’s financial statements. 
 6. Limits on Liability; Indemnification. (a) SA WILL NOT BE LIABLE
FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES RELATING IN ANY WAY TO THIS AGREEMENT. ADDITIONALLY, SA’s LIABILITY RELATING IN ANY WAY TO THIS AGREEMENT WILL NOT EXCEED THE FEES ACTUALLY PAID TO SA BY CLIENT DURING THE
6-MONTH PERIOD IMMEDIATELY PRECEDING THE DISPUTE. (IF FEES HAVE BEEN PAID FOR LESS THAN 6 MONTHS, THEN THE AVERAGE MONTHLY FEES ACTUALLY PAID FOR EACH FULL CALENDAR MONTH WILL BE MULTIPLIED BY 6 TO CALCULATE THE MAXIMUM LIABILITY.) THESE LIMITATIONS
APPLY REGARDLESS OF WHETHER THE CLAIM IS MADE IN CONTRACT, TORT OR OTHERWISE, OR THE PARTY HAS BEEN ADVISED THAT SUCH DAMAGES MAY ARISE. (b) Client is concurrently herewith entering into an Indemnity Agreement (the “Indemnity
Agreement”) with Ryan Selhorn, who will serve as Client’s chief financial officer in connection with the Services to be provided by SA hereunder. Client shall indemnify and otherwise provide benefits to SA and each of its officers,
directors, managers, members, employees, agents, affiliates, successors and assigns (collectively, the “SA Indemnitees”) to the same extent as if each such SA Indemnitee was the “Indemnitee” under the Indemnity Agreement
and such SA Indemnitee qualified as an “agent” of Client under the Indemnity Agreement. 
 7. Other Provisions. This Agreement (a) does not
create any partnership or joint venture or relationship; (b) together with the Indemnity Agreement, embodies the entire understanding between the parties pertaining to its subject matter, and any modifications must be in writing with signatures
of both parties; (c) cannot be waived by failure to enforce any provision except in writing; (d) may be signed in counterparts including facsimiles, each of which will be valid as originals; (e) will be construed as severable, so the invalidity or
unenforceability of any provision will not affect any other provisions of this Agreement; (f) is governed by California law excluding its conflict of laws provisions, and all legal proceedings will be subject to the exclusive jurisdiction of the
state or federal courts located in San Diego County, California; (g) is signed by the persons below with the full power and authority of the respective parties. The obligation to pay fees and late fees, and Sections 3, 4, 5, 6 and 7 will
survive any termination of this Agreement. 
  

									
	Signature Analytics San Diego LLC	 		 	MediciNova, Inc.
					
	By:	 	 /s/ Jason J. Kruger
	 		 	By:	 	 /s/ Yuichi Iwaki

	Name & Title: Jason J. Kruger, President	 		 	Name & Title: Yuichi Iwaki, M.D., Ph.D., President and Chief Executive Officer

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