Document:

Executive Employment Agreement

 Exhibit 10.19 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 This Executive Employment Agreement (“Agreement”), dated March 8th,
2006 (“Effective Date”), is between Innercool Therapies, Inc., a Delaware corporation (the “Company”) and Mike Magers (“Executive”). 
 1. POSITION, RESPONSIBILITIES, AND TERM 
 a. Position. Executive is employed by the Company to render services to the
Company in the positions of President and Chief Operating Officer. As President of the Company, which is a wholly-owned subsidiary of Cardium Therapeutics, Inc. (“Parent Company”), Executive shall report operationally to the President of
Parent Company. Executive shall perform such duties and responsibilities as are normally related to such positions in accordance with the standards of the industry and any additional duties now or hereafter assigned to Executive by the Company.
Executive shall abide by the rules, regulations, and practices as adopted or modified from time to time in the Company’s sole discretion. 
 b. Other Activities. Except upon the prior written consent of the Company, Executive will not, during the Term (as defined below) of this Agreement, engage, directly or indirectly, in any other business activity (whether or not
pursued for pecuniary advantage) that interferes with Executive’s duties and responsibilities hereunder or create a conflict of interest with the Company. Executive has identified on Attachment A certain defined Other Activities that are
represented to not interfere with Executive’s duties and responsibilities hereunder or to create a conflict of interest with the Company, and the Company hereby consents to such activities provided they do not so interfere or create a conflict
of interest. 
 c. No Conflict. Executive represents and warrants that Executive’s execution of this Agreement, Executive’s
employment with the Company, and the performance of Executive’s proposed duties under this Agreement shall not violate any obligations Executive may have to any other employer, person or entity, including any obligations with respect to
proprietary or confidential information of any other person or entity. 
 d. Term of Employment. Executive shall be retained by the
Company to perform the services set forth in this Agreement commencing on the Effective Date and ending upon the earlier of: (i) three (3) years after the Effective Date of this Agreement (“Initial Term”); or (ii) the date
upon which Executive’s employment is terminated in accordance with Section 3. This Agreement shall be automatically renewed for additional one (1) year terms (each an “Extension Term”) upon the expiration of the Initial Term
and each Extension Term, unless either party gives the other party a written notice of termination not less than thirty (30) days prior to the date of expiration of the Initial Term or any Extension Term (together, the Initial Term and all
Extension Terms are referred to herein as the “Term”). 
  

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 2. COMPENSATION AND BENEFITS 
 a. Base Salary. In consideration of the services to be rendered under this Agreement, the Company shall pay Executive a salary at the rate of Two Hundred and Sixty-Six Thousand Dollars ($266,000) per year
(“Base Salary”). The Base Salary shall be paid in accordance with the Company’s normal payroll practices. Executive’s Base Salary will be reviewed from time to time in accordance with the established procedures of the Company for
adjusting salaries for similarly situated employees and may be adjusted in the sole discretion of the Company. 
 b. Warrants. In
further consideration of the services to be rendered under this Agreement, the Company shall grant to Executive a stock purchase warrant (the “Warrant”) exercisable into up to Two Hundred Fifty Thousand (250,000) shares of Common
Stock of Cardium Therapeutics, Inc., a Delaware corporation and the parent entity of the Company, pursuant to the terms of the Warrant Agreement attached hereto as Exhibit A and incorporated herein by this reference. Executive’s entitlement to
receive the shares of Common Stock underlying the Warrant is conditioned on Executive’s execution of the Warrant Agreement.  
 c. Bonus. Executive will be eligible to participate in an executive incentive compensation program to be administered by the Company’s Board of Directors. The amounts payable thereunder will be based on the Company’s
overall performance as well as Executive’s specific performance. Based on such performance, Executive incentive bonus may be up to a maximum 40% of Executive’s Base Salary (“Bonus”) and will be paid within two-and-one-half months
of the end of the year in which it is earned. 
 d. Benefits. In further consideration of the services to be rendered under
this Agreement, Executive shall be eligible to participate in health benefits and paid time off benefits generally made available by the Company to its employees in accordance with the applicable benefit plans, and as may be amended from time to
time in the Company’s sole discretion; provided that with respect to the calculation of Executive’s paid time off benefits, Executive will be credited with five (5) years of prior service and will also be entitled take an additional
four days per year as “floating holidays”. 
 3. AT-WILL EMPLOYMENT 
 The employment of Executive shall be “at-will” at all times. The Company or Executive may terminate Executive’s employment with the Company at any time, without any advance notice, for any reason or no
reason at all, notwithstanding anything to the contrary contained in or arising from any statements, policies or practices of the Company relating to the employment, discipline or termination of its employees. Following the termination of
Executive’s employment, the Company shall pay to Executive all compensation to which Executive is entitled up through the date of termination, subject to any other rights or remedies of the Company under law. Thereafter, all obligations of the
Company under this Agreement shall cease other than those set forth in Section 4. 
  

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 4. COMPANY TERMINATION OBLIGATIONS 
 a. Termination by Company Without Cause or by Executive for Good Reason. If the Company terminates Executive’s employment without Cause (as defined below) or Executive terminates his employment for Good
Reason (as defined below), Executive will receive severance benefits as follows: (i) continued payment of Base Salary (at the rate then in effect for Base Salary) for twelve (12) months, payable according to the Company’s normal
payroll practices (“Severance Period”); (ii) payment of a pro rata share of the Bonus which Executive would have been eligible to receive during the Severance Period, payable according to the Company’s normal payroll practices;
(iii) acceleration of the Warrant (such that any unvested shares shall become fully vested and immediately exercisable in the same manner and timing as provided for accelerated vesting in a Change of Control, as described under
Section 7(d) of the Warrant Agreement); and (iv) the Company will pay for continuation health benefits for twelve (12) months pursuant to COBRA provided Executive completes all necessary documentation in a timely manner to receive
such benefits (collectively “Severance Benefits”). Executive’s eligibility to receive the Severance Benefits is conditioned on Executive having first signed a general release of all known and unknown claims against the Company. All
other obligations of the Company under this Agreement shall cease upon the termination of Executive’s employment for any reason. 
 i. Cause. For purposes of this Agreement, “Cause” shall mean: (i) Executive commits a crime involving dishonesty, breach of trust, or physical harm to any person; (ii) Executive engages in conduct that is in bad
faith and injurious to the Company, including but not limited to, misappropriation of trade secrets, fraud or embezzlement; (iii) Executive materially breaches this Agreement (and, if such breach is curable, has failed to cure such breach
following a 14-day notice period); (iv) Executive refuses to implement or follow a lawful policy of the Company or a directive of the Company that is reasonably consistent with Executive’s duties and responsibilities; or (v) Executive
engages in misfeasance or malfeasance demonstrated by Executive’s failure to perform Executive’s job duties diligently and professionally. 
 ii. Good Reason. For purposes of this Agreement, “Good Reason” means (i) the diminution of Executive’s duties in any material respect which continues for more than thirty (30) days
following written notice by Executive of his objection to such diminution, (ii) assignment to Executive of duties inconsistent in any material respect with Executive’s position (including status, offices, titles and reporting requirements
(such as a termination of Executive’s direct reporting relationship to the President or CEO of Cardium Therapeutics), (iii) the Company moves Executive’s principal place of employment outside of San Diego County, California; or
(iv) a “Change in Control”. 
 iii. Change of Control. For purposes of this Agreement, “Change of Control”
shall mean a change in ownership or control of the Company effected through a merger, consolidation or acquisition by any person or related group of persons (other than an acquisition by the Company or by a Company-sponsored employee benefit plan or
by a person or persons 
  

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 that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial
ownership (within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934) of securities possessing more than fifty percent of the total combined voting power of the outstanding securities of the Company. 
 b. Termination Due to Death or Disability. Executive’s employment shall terminate automatically upon Executive’s death or if Executive
becomes Disabled. Executive shall be deemed Disabled if Executive is unable for medical reasons to perform his essential job duties for ninety (90) days in a twelve (12) month period. If Executive’s employment is terminated by the
Company due to Executive’s death or Disability, Executive will receive the benefits already due to him under Section 2. All other obligations of the Company under this Agreement shall cease upon termination of this Agreement for any
reason. 
 c. Termination by Company Without Cause Following Change In Control During Term. In addition to the benefits set forth in
Section 4(a) above, if the Company terminates Executive’s employment without Cause following a Change in Control during the Term of this Agreement, Executive will be eligible to become immediately vested in all Warrants granted to
Executive pursuant to Section2 (b) above (“Accelerated Vesting”). Executive’s eligibility to receive the Accelerated Vesting is conditioned on Executive having first signed a general release of all known and unknown claims
against the Company. All other obligations of the Company under this Agreement shall cease upon the termination of Executive’s employment for any reason. 
 d. 409A Tax Issues. Notwithstanding any other provision of this Agreement whatsoever, the Company, in its sole discretion and without Executive’s consent, may amend or modify this Agreement in any manner
to provide for the application and effects of Section 409A of the Code (relating to deferred compensation arrangements) and any related regulatory or administrative guidance issued by the Internal Revenue Service. The Company shall have the
authority to delay the payment of any benefits payable under this Agreement to the extent it deems necessary or appropriate to comply with Section 409A(a)(2)(B)(i) of the Code (relating to payments made to certain “key employees” of
certain publicly-traded companies) and in such event, any such amount to which Executive would otherwise be entitled during the six (6) month period immediately following Executive’s separation from service will be paid on the first
business day following the expiration of such six (6) month period. 
 5. EXECUTIVE TERMINATION OBLIGATIONS 
 a. Return of Property. Executive agrees that all property (including without limitation all equipment, tangible proprietary information, documents,
records, notes, contracts and computer-generated materials) furnished to or created or prepared by Executive incident to Executive’s employment belongs to the Company and shall be promptly returned to the Company upon termination of
Executive’s employment. 
  

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 b. Resignation and Cooperation. Upon termination of Executive’s employment, Executive shall
be deemed to have resigned from all offices and directorships then held with the Company. Following any termination of employment, Executive shall reasonably cooperate with the Company in the winding up of pending work on behalf of the Company and
the orderly transfer of work to other employees. Executive shall also reasonably cooperate with the Company in the defense of any action brought by any third party against the Company that relates to Executive’s employment by the Company.

 c. Continuing Obligations. Executive understands and agrees that Executive’s obligations under Sections 6 and 7 herein
(including Exhibits B and C) shall survive the termination of Executive’s employment for any reason and the termination of this Agreement. 
 6.
INVENTIONS AND PROPRIETARY INFORMATION 
 Executive agrees to sign and be bound by the terms of the Employee Proprietary Information and Inventions
Agreement, which is attached as Exhibit B (“Proprietary Information Agreement”). 
 7. ARBITRATION 
 Executive agrees to sign and be bound by the terms of the Arbitration Agreement, which is attached as Exhibit C. 
 8. AMENDMENTS; WAIVERS; REMEDIES 
 This Agreement may not be amended
or waived except by a writing signed by Executive and by a duly authorized representative of the Company other than Executive. Failure to exercise any right under this Agreement shall not constitute a waiver of such right. Any waiver of any breach
of this Agreement shall not operate as a waiver of any subsequent breaches. All rights or remedies specified for a party herein shall be cumulative and in addition to all other rights and remedies of the party hereunder or under applicable law.

 9. ASSIGNMENT; BINDING EFFECT 
 a.
Assignment. The performance of Executive is personal hereunder, and Executive agrees that Executive shall have no right to assign and shall not assign or purport to assign any rights or obligations under this Agreement. This Agreement may be
assigned or transferred by the Company; and nothing in this Agreement shall prevent the consolidation, merger or sale of the Company or a sale of any or all or substantially all of its assets. 
 b. Binding Effect. Subject to the foregoing restriction on assignment by Executive, this Agreement shall inure to the benefit of and be binding
upon each of the parties; the affiliates, officers, directors, agents, successors and assigns of the Company; and the heirs, devisees, spouses, legal representatives and successors of Executive. 
  

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 10. NOTICES 
 All
notices or other communications required or permitted hereunder shall be made in writing and shall be deemed to have been duly given if delivered: (a) by hand; (b) by a nationally recognized overnight courier service; or (c) by United
States first class registered or certified mail, return receipt requested, to the principal address of the other party. The date of notice shall be deemed to be the earlier of (i) actual receipt of notice by any permitted means, or
(ii) five business days following dispatch by overnight delivery service or the United States Mail. Executive shall be obligated to notify the Company in writing of any change in Executive’s address. Notice of change of address shall be
effective only when done in accordance with this paragraph. 
 11. SEVERABILITY 
 If any provision of this Agreement shall be held by a court or arbitrator to be invalid, unenforceable, or void, such provision shall be enforced to the fullest extent permitted by law, and the remainder of this
Agreement shall remain in full force and effect. In the event that the time period or scope of any provision is declared by a court or arbitrator of competent jurisdiction to exceed the maximum time period or scope that such court or arbitrator
deems enforceable, then such court or arbitrator shall reduce the time period or scope to the maximum time period or scope permitted by law. 
 12. TAXES

 All amounts paid under this Agreement (including without limitation Base Salary and Severance) shall be paid less all applicable state and federal tax
withholdings and any other withholdings required by any applicable jurisdiction. 
 13. GOVERNING LAW 
 This Agreement shall be governed by and construed in accordance with the laws of the State of California. 
 14. INTERPRETATION 
 This Agreement shall be construed as a whole,
according to its fair meaning, and not in favor of or against any party. Sections and section headings contained in this Agreement are for reference 
  

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 purposes only, and shall not affect in any manner the meaning or interpretation of this Agreement. Whenever the context
requires, references to the singular shall include the plural and the plural the singular. 
 15. OBLIGATIONS SURVIVE TERMINATION OF EMPLOYMENT

 Executive agrees that any and all of Executive’s obligations under this Agreement, including but not limited to Exhibits B and C, shall survive
the termination of employment and the termination of this Agreement. 
 16. COUNTERPARTS 
 This Agreement may be executed in any number of counterparts, each of which shall be deemed an original of this Agreement, but all of which together shall constitute one and the same instrument. 
 17. AUTHORITY 
 Each party represents and warrants that such party has
the right, power and authority to enter into and execute this Agreement and to perform and discharge all of the obligations hereunder; and that this Agreement constitutes the valid and legally binding agreement and obligation of such party and is
enforceable in accordance with its terms. 
 18. ENTIRE AGREEMENT 
 This Agreement (including Exhibits A, B, and C) is intended to be the final, complete, and exclusive statement of the terms of Executive’s employment by the Company and may not be contradicted by evidence of any prior or
contemporaneous statements or agreements. To the extent that the practices, policies or procedures of the Company, now or in the future, apply to Executive and are inconsistent with the terms of this Agreement, the provisions of this Agreement shall
control. Executive hereby acknowledges that any prior employment agreement Executive had with Intercool Therapies, Inc., a California corporation (“Prior Employment Agreement”), has been terminated, the Company has no obligations to
Executive under any Prior Employment Agreement, and Executive hereby waives, releases, and will not assert any claims against the Company based on any Prior Employment Agreement. 
  

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 19. EXECUTIVE ACKNOWLEDGEMENT 
 EXECUTIVE ACKNOWLEDGES EXECUTIVE HAS HAD THE OPPORTUNITY TO CONSULT LEGAL COUNSEL CONCERNING THIS AGREEMENT, THAT EXECUTIVE HAS READ AND UNDERSTANDS THE AGREEMENT, THAT EXECUTIVE IS FULLY AWARE OF ITS LEGAL EFFECT, AND THAT EXECUTIVE HAS
ENTERED INTO IT FREELY BASED ON EXECUTIVE’S OWN JUDGMENT AND NOT ON ANY REPRESENTATIONS OR PROMISES OTHER THAN THOSE CONTAINED IN THIS AGREEMENT. 
 IN WITNESS WHEREOF, the parties have duly executed this Agreement as
of the date first written above. 
  
  

							
	INNERCOOL THERAPIES, INC.	  		  	
	(a Delaware Corporation)	  		  	
		
	  
 By: Tyler M. Dylan
	  	
	Its: Chief Business Officer	  	  
 Executive

				
	Dated:	  	  
	  	Dated:	  	  

  

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 EXHIBIT A 
 WARRANT AGREEMENT 
  

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 EXHIBIT B 
 EMPLOYEE PROPRIETARY INFORMATION 
 AND INVENTIONS AGREEMENT 
 Date:                     
             
 The following confirms an agreement between Innercool Therapies
Inc., a Delaware corporation (the “Company”), and me, which is a material part of the consideration for my employment by the Company: 
  

	1.	I understand that the Company possesses and will possess Proprietary Information that is important to its business. For purposes of this Agreement, “Proprietary
Information” is information that was or will be developed, created, or discovered by or on behalf of the Company, or which became or will become known by, or was or is conveyed to the Company, which has commercial value in the Company’s
business. “Proprietary Information” includes, but is not limited to, information about algorithms, mask works, trade secrets, cell lines, reagents, antibodies, computer programs, designs, technology, ideas, know-how, processes, formulas,
compositions, data, techniques, improvements, inventions (whether patentable or not), works of authorship, business and product development plans, the salaries and terms of compensation of other employees, customers and other information concerning
the Company’s actual or anticipated business, research or development, or which is received in confidence by or for the Company from any other person. I understand that my employment creates a relationship of confidence and trust between the
Company and me with respect to Proprietary Information. 

  

	2.	I understand that the Company possesses or will possess “Company Materials” that are important to its business. For purposes of this Agreement, “Company
Materials” are documents or other media or tangible items that contain or embody Proprietary Information or any other information concerning the business, operations or plans of the Company, whether such documents have been prepared by others
or by me. “Company Materials” include, but are not limited to, blueprints, drawings, photographs, charts, graphs, notebooks, customer lists, computer disks, tapes or printouts, sound recordings and other printed, typewritten or handwritten
documents, as well as samples, prototypes, models, products and the like. 

  

	3.	In consideration of my employment by the Company and the compensation received by me from the Company from time to time, I hereby agree as follows: 

  

	 	a.	All Proprietary Information and all title, patents, patent rights, copyrights, mask work rights, trade secret rights, and other intellectual property and rights anywhere in the
world (collectively “Rights”) in connection therewith shall be the sole property of the Company. I hereby assign to the Company any Rights I may have or acquire in such Proprietary Information. At all times, both during my employment by
the Company and after its 

  

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 termination, I will keep in confidence and trust and will not use or disclose any Proprietary Information
or anything relating to it without the prior written consent of an officer of the Company. Disclosure restrictions of this Agreement shall not apply to any information that I can document is generally known to the public through no fault of mine. In
addition, nothing contained herein will prohibit me from disclosing to anyone the amount of my wages. 
  

	 	b.	All Company Materials shall be the sole property of the Company. I agree that during my employment by the Company, I will not remove any Company Materials from the business premises
of the Company or deliver any Company Materials to any person or entity outside the Company, except that I may on occasion utilize Company Materials in my home solely in the performance of the duties of my employment. I further agree that,
immediately upon the termination of my employment by the Company or by me for any reason, or during my employment if so requested by the Company, I will return all Company Materials, apparatus, equipment and other physical property, and any
reproduction of such property, excepting only (i) my personal copies of records relating to my compensation; (ii) my personal copies of any materials previously distributed generally to shareholders of the Company; and (iii) my copy
of this Agreement. 

  

	 	c.	I will promptly disclose in writing to my immediate supervisor or to any alternative person as designated by the Company all “Inventions” (which term includes
improvements, inventions, works of authorship, trade secrets, technology, computer programs, formulas, compositions, ideas, designs, processes, techniques, know-how and data, whether or not patentable) made or conceived or reduced to practice or
developed by me, either alone or jointly with others, during the term of my employment. Upon receipt of a written request from the Company, I will also disclose to the President of the Company Inventions conceived, reduced to practice, or developed
by me within six (6) months of the termination of my employment with the Company; such disclosures shall be received by the Company in confidence (to the extent they are not assigned in paragraph 3(d) below and do not extend the assignment made
in paragraph 3(d) below). I will not disclose Inventions covered by paragraph 3(d) to any person outside the Company unless I am requested to do so by management personnel of the Company. 

  

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	 	d.	I agree that all Inventions that I make, conceive, reduce to practice or develop (in whole or in part, either alone or jointly with others) during my employment shall be the sole
property of the Company to the maximum extent permitted by Section 2870 of the California Labor Code, a copy of which is attached, and I hereby assign such Inventions and all Rights therein to the Company. No assignment in this Agreement shall
extend to inventions, the assignment of which is prohibited by Labor Code section 2870. The Company shall be the sole owner of all Rights in connection therewith. 

  

	 	e.	I agree to perform, during and after my employment, all acts deemed necessary or desirable by the Company to permit and assist it, at the Company’s expense, in evidencing,
perfecting, obtaining, maintaining, defending, and enforcing Rights and/or my assignment with respect to such Inventions in any and all countries. Such acts may include, but are not limited to, execution of documents and assistance or cooperation in
legal proceedings. I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as my agents and attorneys-in-fact to act for and in my behalf and instead of me, to execute and file any documents and to do all
other lawfully permitted acts to further the above purposes with the same legal force and effect as if executed by me. 

  

	 	f.	Any assignment of copyright hereunder includes all rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known as or referred to as “moral
rights” (collectively “Moral Rights”). To the extent such Moral Rights cannot be assigned under applicable law and to the extent the following is allowed by the laws in the various countries where Moral Rights exist, I hereby waive
such Moral Rights and consent to any action of the Company that would violate such Moral Rights in the absence of such consent. I will confirm any such waivers and consents from time to time as requested by the Company. 

  

	 	g.	I have attached hereto a complete list of all existing Inventions to which I claim ownership as of the date of this Agreement and that I desire to specifically clarify are not
subject to this Agreement, and I acknowledge and agree that such list is complete. If no such list is attached to this Agreement, I represent that I have no such Inventions at the time of signing this Agreement. 

  

	 	h.	During the term of my employment and for one (1) year thereafter, I will not encourage or solicit any employee or consultant of the Company to leave the Company for any reason.
However, this obligation shall not affect any responsibility I may have as an employee of the Company with respect to the bona fide hiring and firing of Company personnel. 

  

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	 	i.	I agree that during my employment with the Company I will not engage in any employment, business, or activity that is in any way competitive with the business or any proposed
business of the Company, and I will not assist any other person or organization in competing with the Company or in preparing to engage in competition with the business or any proposed business of the Company. The provisions of this paragraph shall
apply both during normal working hours and at all other times including, but not limited to, nights, weekends and vacation time while I am employed by the Company. 

  

	 	j.	I represent that my performance of all the terms of this Agreement will not breach any agreement to keep in confidence proprietary information acquired by me in confidence or in
trust prior to my employment by the Company. I have not entered into, and I agree I will not enter into, any agreement either written or oral in conflict herewith or in conflict with my employment with the Company. 

  

	4.	I represent that my performance of the terms of this Agreement and as an employee of the Company does not and will not breach any agreement to keep in confidence proprietary
information, knowledge, or data acquired by me in confidence or in trust prior to becoming an employee of the Company, and I will not improperly use or disclose to the Company, or induce the Company to use or disclose, any confidential or
proprietary information or material belonging to any previous employer or others. I will not bring into the premises of the Company any unpublished documents or any property belonging to any former employer or any other person to whom I have an
obligation of confidentiality unless consented to in writing by that former employer or person. 

  

	5.	I agree that this Agreement is not an employment contract and that I have the right to resign and the Company has the right to terminate my employment at any time, for any reason,
with or without cause. 

  

	6.	I agree that this Agreement does not purport to set forth all of the terms and conditions of my employment, and that as an employee of the Company I have obligations to the Company
that are not set forth in this Agreement. 

  

	7.	I agree that my obligations under paragraphs 3(a) through 3(f) and paragraph 3(h) of this Agreement shall continue in effect after termination of my employment, regardless of the
reason or reasons for termination, and whether such termination is voluntary or involuntary on my part, and that the Company is entitled to communicate my obligations under this Agreement to any future employer or potential employer of mine.

  

	8.	I agree that any dispute in the meaning, effect or validity of this Agreement shall be resolved in accordance with the laws of the State of California without regard to the conflict
of law provisions thereof. I further agree that if one or more provisions of this Agreement are held to be illegal or unenforceable under applicable California law, such 

  

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 illegal or unenforceable portion(s) shall be limited or excluded from this Agreement to the minimum
extent required so that this Agreement shall otherwise remain in full force and effect and shall be enforceable in accordance with its terms. 
  

	9.	This Agreement shall be effective as of the date I execute this Agreement and shall be binding upon me, my heirs, executors, assigns, and administrators and shall inure to the
benefit of the Company, its subsidiaries, successors and assigns. 

  

	10.	This Agreement can only be modified by a subsequent written agreement executed by the President of Cardium Therapeutics, Inc.. 

  

	11.	I acknowledge that I have been advised to, and have had an opportunity to, consult with my own attorney in connection with this Agreement. 

 I HAVE READ THIS AGREEMENT CAREFULLY AND I UNDERSTAND AND ACCEPT THE OBLIGATIONS THAT IT IMPOSES UPON ME WITHOUT RESERVATION. NO PROMISES OR
REPRESENTATIONS HAVE BEEN MADE TO ME TO INDUCE ME TO SIGN THIS AGREEMENT. I SIGN THIS AGREEMENT VOLUNTARILY AND FREELY, IN DUPLICATE, WITH THE UNDERSTANDING THAT ONE COUNTERPART WILL BE RETAINED BY THE COMPANY AND THE OTHER COUNTERPART WILL BE
RETAINED BY ME. 
  

			
	  
 Employee’s Signature
	 	  
 Date

		
	  
 Printed Name
	 	

 Accepted and Agreed to: 
 INNERCOOL THERAPIES, INC. 
 (a Delaware Corporation) 
  

			
	  
 By: Tyler M.
Dylan

	Its: Chief Scientific Officer

  

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 ATTACHMENT A 
 To: Innercool Therapies, Inc. 
  

	1.	The following is a complete list of Inventions relevant to the subject matter of my employment by Innercool Therapies, Inc. (the “Company”) that have been made or
conceived or first reduced to practice by me alone or jointly with others prior to my employment by the Company that I desire to clarify are not subject to the Company’s Proprietary Information and Inventions Agreement.

  

	        	No Inventions 

  

	        	See below: 

  

	        	Additional sheets attached 

  

	2.	I propose to bring to my employment the following materials and documents of a former employer: 

  

	        	No materials or documents 

  

	        	See below: 

  

	3.	Other Activities: 

 a. I have a Consulting Agreement
in place with Tyco, Inc. (Mallinckrodt Medical) for defense of their patent suit. 
 b. I provide advice and assistance to CardioSync,
Inc. 
  

			
	  
 Employee’s Signature
	 	  
 Date

		
	  
 Printed Name
	 	

  

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 ATTACHMENT B 
 Section 2870 Employment Agreements; Assignment of Rights 
 (a) Any provision in an employment agreement
which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the
employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either: 
 (1)
Relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or 
 (2) Result from any work performed by the employee for his employer. 
 (b) To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to
be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable. 
  

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 EXHIBIT C 
 ARBITRATION AGREEMENT 
 The Company and Executive hereby agree that, to the fullest extent permitted by law, any and
all claims or controversies between them (or between Executive and any present or former officer, director, agent, or employee of the Company or any parent, subsidiary, or other entity affiliated with the Company) relating in any manner to the
employment or the termination of employment of Executive shall be resolved by final and binding arbitration. Except as specifically provided herein, any arbitration proceeding shall be conducted in accordance with the National Rules for the
Resolution of Employment Disputes of the American Arbitration Association (“the AAA Rules”). 
 Claims subject to arbitration shall include,
without limitation: contract claims, tort claims, claims relating to compensation and warrants, as well as claims based on any federal, state, or local law, statute, or regulation, including but not limited to any claims arising under Title VII of
the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, and the California Fair Employment and Housing Act. However, claims for unemployment benefits, workers’ compensation claims, and claims
under the National Labor Relations Act shall not be subject to arbitration. 
 A neutral and impartial arbitrator shall be chosen by mutual agreement of the
parties; however, if the parties are unable to agree upon an arbitrator within a reasonable period of time, then a neutral and impartial arbitrator shall be appointed in accordance with the arbitrator nomination and selection procedure set forth in
the AAA Rules. The arbitrator shall prepare a written decision containing the essential findings and conclusions on which the award is based so as to ensure meaningful judicial review of the decision. The arbitrator shall apply the same substantive
law, with the same statutes of limitations and same remedies, that would apply if the claims were brought in a court of law. The arbitrator shall have the authority to rule on a motion to dismiss and/or summary judgment by either party, and the
arbitrator shall apply the standards governing such motions under the California Code of Civil Procedure. 
 Either the Company or Executive may bring an
action in court to compel arbitration under this Agreement and to enforce an arbitration award. Otherwise, neither party shall initiate or prosecute any lawsuit of claim in any way related to any arbitrable claim, including without limitation any
claim as to the making, existence, validity, or enforceability of the agreement to arbitrate. Nothing in this Agreement, however, precludes a party from filing an administrative charge before an agency that has jurisdiction over an arbitrable claim.
Moreover, nothing in this Agreement prohibits either party from seeking provisional relief pursuant to Section 1281.8 of the California Code of Civil Procedure. 
  

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 All arbitration hearings under this Agreement shall be conducted in San Diego, California, unless otherwise agreed by the
parties. The arbitration provisions of this Arbitration Agreement shall be governed by the Federal Arbitration Act. In all other respects, this Arbitration Agreement shall be construed in accordance with the laws of the State of California, without
reference to conflicts of law principles. 
 Each party shall pay its own costs and attorney’s fees, unless a party prevails on a statutory claim, and
the statute provides that the prevailing party is entitled to payment of its attorneys’ fees. In that case, the arbitrator may award reasonable attorneys’ fees and costs to the prevailing party as provided by law. The Company agrees to pay
the costs and fees of the arbitrator, to the extent required by law. 
 If any provision of this Agreement shall be held by a court or the arbitrator to be
invalid, unenforceable, or void, such provision shall be enforced to the fullest extent permitted by law, and the remainder of this Agreement shall remain in full force and effect. The parties’ obligations under this Agreement shall survive the
termination of Executive’s employment with the Company and the expiration of this Agreement. 
 The Company and Executive understand and agree that this
Arbitration Agreement contains a full and complete statement of any agreements and understandings regarding resolution of disputes between the parties, and the parties agree that this Arbitration Agreement supersedes all previous agreements, whether
written or oral, express or implied, relating to the subjects covered in this agreement. The parties also agree that the terms of this Arbitration Agreement cannot be revoked or modified except in a written document signed by both Executive and an
officer of the Company. 
 THE PARTIES ALSO UNDERSTAND AND AGREE THAT THIS AGREEMENT CONSTITUTES A WAIVER OF THEIR RIGHT TO A TRIAL BY JURY OF ANY CLAIMS OR
CONTROVERSIES COVERED BY THIS AGREEMENT. THE PARTIES AGREE THAT NONE OF THOSE CLAIMS OR CONTROVERSIES SHALL BE RESOLVED BY A JURY TRIAL. 
 THE PARTIES
FURTHER ACKNOWLEDGE THAT THEY HAVE BEEN GIVEN THE OPPORTUNITY TO DISCUSS THIS AGREEMENT WITH THEIR LEGAL COUNSEL AND HAVE AVAILED THEMSELVES OF THAT OPPORTUNITY TO THE EXTENT THEY WISH TO DO SO. 
  

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	INNERCOOL THERAPIES, INC.	 		 	
	(a Delaware Corporation)	 		 	
			
	  
 By: Tyler M. Dylan
	 		 	
	Its: Chief Business Officer	 	  
 Executive

				
	Dated:	 	  
	 	Dated:	 	  

  

 4Master License Agreement

 Exhibit 10.20 
 MASTER LICENSE AGREEMENT 
 THIS AGREEMENT by and between SurModics, Inc., a corporation of the State of Minnesota,
which has an office at 9924 West 74th Street, Eden Prairie, MN 55344, (hereinafter referred to as SURMODICS), and Innercool Therapies, Inc., a corporation of the State of California, which has an office at 3931 Sorrento Valley Blvd., San
Diego, CA 92121 (hereinafter referred to as INNERCOOL). 
 WHEREAS, SURMODICS is engaged in biological, chemical and technical research and has
developed a body of technology and know-how, including reagents, processes and devices which the parties believe will improve the performance of various products and processes of INNERCOOL. 
 WHEREAS, the technology of SURMODICS includes confidential information (including trade secrets and other know-how) which is proprietary to SURMODICS and SURMODICS is in
the process of securing patent coverage for certain items of its technology, and continues to maintain the confidentiality of other portions of its technology. 
 WHEREAS, INNERCOOL (formerly known as Del Mar Medical Technologies) and SURMODICS are parties to a Mutual Confidential Disclosure Agreement dated December 18, 1998 (“Prior Disclosure Agreement”); 
 WHEREAS, INNERCOOL may desire to acquire additional licenses under SURMODICS’ know-how and patent rights, such licenses to be added to this Master Agreement;

 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below and for other good and valuable consideration of which receipt is
acknowledged, the parties agree as follows: 
 1. DEFINITIONS 
 The following definitions apply to this Agreement and to all addenda thereto: 
 a. “Affiliate”
means any entity which owns at least 50% of, is at least 50% owned by, or is under common (at least 50%) ownership with INNERCOOL. 
 b.
“Effective Date” means the date upon which this Agreement is fully executed. 
 c. “Know-how” means SURMODICS’ trade
secrets and other technical information relating to the surface-treatment of medical devices and which SURMODICS has the right to transmit to others. Know-how includes but is not limited to information contained in pending patent applications of
Patent Rights and information that is Confidential Information as defined in Paragraph 13. 
  

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 d. “Licensed Products” means each of the separately sold Medical Products specifically
described in Attachment Bl, B2, and so forth, and which: 
 i. but for the license granted herein the manufacture, use or sale would infringe
(or a surface treatment process employed to produce a product or a reagent used in such process would infringe) any claim of Patent Rights, or 
 ii. are produced through the use of SURMODICS’ Know-how. 
 e. “Licensed Product Effective Date” for each license
granted herein shall mean the date specified in the respective Attachment Bl, B2, and so forth. 
 f. “Manufacturer” means a
non-Affiliate third party which manufactures Licensed Products for INNERCOOL pursuant to a separate agreement with INNERCOOL, and subject to the execution by the Manufacturer and SURMODICS of the document entitled “Manufacturer Agreement and
SurModics’ Consent” attached hereto as Attachment C. 
 g. “Medical Products” means products that are specifically
described and defined in Attachment B1, B2, and so forth. 
 h. “Net Sales” means the total actual billing for sales of Licensed
Products, less the following deductions where they are applicable with respect to such billings and when separately shown on invoices: 
 i.
discounts actually allowed and taken; 
 ii. any customs, duties, taxes or other governmental excise or charge upon or measured by the
production, sale, transportation, delivery or use of Licensed Product and actually paid by INNERCOOL; 
 iii. amounts allowed or credited on
rejections or returns; 
 iv. transportation charges prepaid or allowed. 
 Notwithstanding the above, if any Licensed Product is sold both separately and as an integral part of a combination product containing one or more
integral components in addition to that Licensed Product, then Net Sales of that Licensed Product resulting from sales of that combination product will be calculated by multiplying the Net Sales for the combination product as calculated above by the
fraction A/B where A is the invoice price of the Licensed Product as sold separately and B is the invoice price of the combination product. 
 A Licensed Product shall be considered sold when it is shipped or when it is invoiced, whichever is earlier. To assure SURMODICS the full royalty payment contemplated in this Agreement, INNERCOOL agrees that in the event any Licensed
Product is sold to an 
  

 2 

 Affiliate for purposes of resale, Earned Royalties for that Licensed Product shall be computed upon the
selling price at which such Licensed Product would ordinarily be sold to a non-Affiliate, rather than on the selling price of INNERCOOL to the Affiliate. 
 i. “Patent Rights” means the patent application(s) and patent(s) identified in Attachment A hereof, together with all foreign counterparts, divisions, and continuation applications based thereon, any patent
issuing on any of said applications, and any reissues or extensions based on any of such patents. 
 j. “Valid Claim” means a claim
of Patent Rights that has not been held invalid or unenforceable by a court of competent jurisdiction beyond possibility of appeal, or which has not expired due to non-payment of maintenance fees beyond possibility of reinstatement based on
unintentional delay. 
 2. LICENSE 
 a. With respect to the Licensed Product defined in each of Attachments B1, B2, and so forth, SURMODICS grants to INNERCOOL, a separate worldwide license under SURMODICS’ Patent Rights and Know-how to make, have
made for it by a Manufacturer as defined herein, use and sell that Licensed Product. The license granted herein is expressly limited to the specific Licensed Products defined herein, and does not include the right to sublicense. Additional terms of
each license are set out in the respective Attachments Bl, B2, and so forth. To the extent of any inconsistency between the terms set forth in the text of this Agreement and the terms set forth in Attachments Bl, B2, and so forth, the terms set
forth in the text of this Agreement shall be controlling. Each such license shall be effective as of its Licensed Product Effective Date. 
 b. Subject to the limited license granted herein, SURMODICS shall retain all rights to the Patent Rights and Know-how. SURMODICS shall retain the right to use Patent Rights and Know-how for its own research purposes. 
 c. INNERCOOL shall notify SURMODICS, in advance and in writing, of any change in the location of the production of a Licensed Product or any new location
to be used for the production of a Licensed Product. 
 3. LICENSE FEES 
 For each license granted by SURMODICS, INNERCOOL shall pay to SURMODICS a License Fee as set out in the respective Attachment Bl, B2, and so forth.

  

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 4. ROYALTIES 
 For each license granted herein, INNERCOOL shall pay to SURMODICS a royalty for each quarter calendar year during the term of this License Agreement which will be the greater of the royalties of Paragraphs 4(a) or
4(b). 
 a. Earned Royalties shall be calculated as provided for in the respective Attachment Bl, B2, and so forth. No more than one Earned
Royalty shall be paid by INNERCOOL for any Licensed Product. However, if any Licensed Product is covered by more than one Attachment B1, B2, and so forth, then the Earned Royalty rate shall be the highest rate specified for such Licensed Product.

 b. Minimum Royalties shall be paid for each Licensed Product as provided for in the respective Attachment Bl, B2, and so forth. 

5. ROYALTY PAYMENTS, REPORTS, RECORDS 
 a. During the term of this Agreement, and for each license granted hereunder, INNERCOOL will make written reports and payments to SURMODICS within thirty (30) days after the last day of each calendar quarter ending March 31,
June 30, September 30, and December 31. Each such report shall state the Net Sales, unit volumes, Earned Royalty, corrections of error in prior royalty payments, and data and calculations used by INNERCOOL to determine such payments
for each of the licenses corresponding to the respective Attachments B1, B2, and so forth. Each report shall be accompanied by payment in full of the royalty due SURMODICS for that quarter. The December 31 quarterly report shall also include a
summary progress report regarding INNERCOOL’s relevant developmental, manufacturing scale-up, regulatory affairs, and marketing activities with respect to all Licensed Products along with a summary forecast of projected sales of Licensed
Products and a nonbinding forecast of reagent usage for the next calendar year. 
 b. INNERCOOL will maintain, for a period of five
(5) years following each sale of Licensed Product, true and accurate records supporting the reports and payments made under this Agreement. SURMODICS shall have the right to carry out an audit of such records no more frequently than once per
calendar year by a certified public accountant of its choice. Such accountant shall have reasonable access to INNERCOOL’s offices and the relevant records, files and books of account, and such accountant shall have the right to examine any
other records reasonably necessary to determine the accuracy of the calculations provided by INNERCOOL under Paragraph 5(a). Such audit shall be at SURMODICS’ expense except that if an underpayment error is found for any twelve month period
that exceeds 5% of the payment made to SURMODICS for that period, then INNERCOOL will bear the cost of such audit. 
 c. All royalties on
sales of each Licensed Product to be paid to SURMODICS by INNERCOOL under this Agreement shall be paid in U.S. Dollars to SURMODICS in the 
  

 4 

 United States. For the purpose of calculating Earned Royalties on sales outside the United States for any
calendar quarter, INNERCOOL shall utilize the average rate of exchange on the last business day of that calendar quarter as quoted in the Wall Street Journal. 
 d. Any sum required under U.S. tax laws (or the tax laws of any other government) to be withheld by INNERCOOL from payment for the account of SURMODICS shall be promptly paid by INNERCOOL for and on behalf of
SURMODICS to the appropriate tax authorities, and INNERCOOL shall furnish SURMODICS with official tax receipts or other appropriate evidence issued by the appropriate tax authorities sufficient to enable SURMODICS to support a claim for income tax
credit in respect to any sum so withheld. 
 6. DEVELOPMENT FEES 
 INNERCOOL agrees to pay SURMODICS for development efforts (“Development Fees”) while working on INNERCOOL’s products at SURMODICS’ then standard hourly rate for development efforts provided,
however, that such development effort is pursuant to a mutually agreed upon project plan. SURMODICS’ standard hourly rate includes direct labor costs plus direct labor overhead. SURMODICS shall additionally charge direct materials plus direct
materials overhead of fifteen percent (15%). Direct materials may include expenses such as travel and special equipment, but only as mutually agreed upon in writing. SURMODICS shall invoice INNERCOOL monthly for such Development Fees and payment
shall be made within thirty (30) days thereafter. 
 Notwithstanding the above, SURMODICS will not charge INNERCOOL for the initial
disclosure of such Know-how. Such initial disclosure of Know-how shall include the preparation and delivery to INNERCOOL of a ‘Technology Transfer Document” which shall contain information relating to the procedures and techniques used by
SURMODICS to coat such Licensed Product. SURMODICS will provide up to two days of training in the use of SURMODICS’ coating procedures covered in the Technology Transfer Document. Such training shall be at SURMODICS’ facility and be
offered to a reasonable number (three or less) of INNERCOOL employees who will be using or implementing such coating procedures. Travel and accommodations for such INNERCOOL employees will be at INNERCOOL’s expense. At INNERCOOL’s request,
SURMODICS will send a coating engineer to the INNERCOOL manufacturing facility or to one designated Manufacturer facility in the United States for up to two days to review the production line, advise on reagent handling and to provide other advice
that may assist INNERCOOL in the implementation of the coating process into INNERCOOL’s manufacturing process. Travel and accommodations for such SURMODICS employee will be at SURMODICS’ expense. 
 7. TERM 
 a. Unless earlier terminated, each
license herein granted shall begin upon the Licensed Product Effective Date set out in the respective Attachment Bl, B2, and so forth, and shall 
  

 5 

 extend for each Licensed Product so licensed until expiration of the last to expire patent of Patent
Rights that covers that product or for a period of fifteen (15) years following the first bona fide commercial sale of such Licensed Product, whichever is longer. 
 b. Upon expiration of the full term of the license granted herein for any Licensed Product, and upon full payment by INNERCOOL to SURMODICS of any monies due under this Agreement, the license with respect to Know-how
licensed herein for that Licensed Product shall be deemed paid up and non-exclusive (if any such license was exclusive), and SURMODICS may negotiate additional license agreements with any other party for SURMODICS’ surface modifications.

 8. PATENTS 
 a. INNERCOOL shall
see to it that all Licensed Products sold by INNERCOOL shall be appropriately marked with the applicable patent numbers, in conformity with applicable law. 
 b. SURMODICS recognizes that it is an objective of INNERCOOL to obtain patents on technology that it develops concerning chemicals having latent reactive groups and their uses. INNERCOOL recognizes that a vital part
of SURMODICS’ business involves the licensing of others under SURMODICS’ patents and know-how to make, use and sell products, and that it is an objective of SURMODICS to enable its present and future licensees to exploit patent licenses
from SURMODICS to produce and sell products without interference from any patent that INNERCOOL might obtain. A purpose of this Paragraph 8(b) is to establish a system under which each party may accomplish its respective objective. 
 i. “INNERCOOL Latent Reactive Chemical Patents” (INNERCOOL LRC Patents) means patents which (a) claim inventions conceived or first reduced
to practice during the term of this Agreement solely by one or more INNERCOOL employees or others who are required to assign inventions to INNERCOOL, and (b) claim inventions relating to chemical species having photo-reactive or other latent
reactive groups for the purpose of bonding chemicals such as synthetic polymers and biologically active materials onto surfaces or into matrices or to other molecules, the use of such chemical species, or the products resulting from such use, and
(c) which could be infringed by the manufacture, use or sale of any product or process covered by any claim of any patent that SURMODICS has the right to license to others or may have licensed to others. 
 ii. During the term of this Agreement, INNERCOOL will provide SURMODICS with a copy of each proposed patent application for a INNERCOOL LRC Patent, and
SURMODICS will provide comments concerning such application, including comments regarding inclusion of SURMODICS’ Confidential Information, prior work done by SURMODICS in connection with the claimed invention, and the state 
  

 6 

 of the art. No application for an INNERCOOL LRC Patent shall be made without SURMODICS’ prior
written permission. If SURMODICS can fairly show that it had substantial knowledge of the invention of any INNERCOOL LRC Patent application before receiving from INNERCOOL that patent application, SURMODICS shall promptly notify INNERCOOL and the
parties shall cooperate in comparing records of conception of that invention to determine in good faith which party was the earliest to conceive the invention. 
 iii. SURMODICS shall have and is hereby granted a noncancelable, nonexclusive, worldwide license, with the right to sublicense, to make, have made for it, use and sell products and processes covered by each INNERCOOL
LRC Patent to the extent that such manufacture, use or sale also is covered by any claim of any patent that SURMODICS has the right to license to others or may have licensed to others. If INNERCOOL was the earliest to conceive the invention of that
patent, then the license granted to SURMODICS, and SURMODICS’ right to sublicense, shall exclude the right to manufacture, use or sell Medical Products. 
 iv. In return for such license, SURMODICS will pay INNERCOOL a total of five percent (5%) of the royalties (regardless of the number of INNERCOOL LRC Patents that are licensed to SURMODICS or the number of
licenses involved) that SURMODICS receives from its sublicensees based on sales by its sublicensees of products that but for such sublicenses would infringe any Valid Claim of INNERCOOL LRC Patents. Notwithstanding the above, if SURMODICS was the
earliest to conceive the invention of any INNERCOOL LRC Patent, then the license granted to SURMODICS shall be considered paid-up. 
 c. The
parties agree to execute and exchange upon request such documents as may be necessary or desirable to carry out the provisions of Paragraph 8(b). 
 d. Notwithstanding the provisions of Paragraph 12(c), in the event that any third party infringes or threatens to infringe the Patent Rights, a party shall notify the other party in writing of such infringement which becomes known to it and
the parties shall discuss together by whom and what action shall be taken, if any. This paragraph shall not obligate either party to undertake, join in, or fund any litigation. Either party shall undertake to provide the other party with any
documents or other reasonable, non-financial assistance, as may be required should the other party choose to undertake, join in, or fund any litigation. 
 9. ALLOCATION OF ROYALTIES 
 It is agreed that royalties payable under the applicable Attachment B shall be allocated
seventy percent (70%) to Know-how licensed herein and thirty percent (30%) to Patent Rights licensed herein. The Earned Royalty rate with respect to any Licensed Product shall be prospectively reduced to seventy percent (70%) of the
Earned Royalty rate set out in Paragraph 4(a) and the respective Attachments Bl, B2, and so forth, to the extent that and 
  

 7 

 during the term that neither the manufacture, nor the use, nor the sale of that specific Licensed Product
(or a surface treatment process or a reagent used in such process) is covered by any Valid Claim of Patent Rights. The provisions of this Paragraph 9 shall not apply to payment of Minimum Royalties as provided in Paragraph 4(b) and the respective
Attachments Bl, B2, and so forth. 
 10. TERMINATION 
 a. For each license granted herein: 
 i. INNERCOOL shall have the right to terminate the respective
Attachment B1, B2, and so forth, under which such license was granted, but only in its entirety, at any time upon ninety (90) days advance written notice. Upon termination of such license, INNERCOOL shall have no further rights under Patent
Rights or Know-how. However, INNERCOOL shall be allowed to sell any inventory of Licensed Products existing at the time of termination for a period of twelve (12) months thereafter (thereafter destroying any remaining inventory), provided
INNERCOOL accounts for such sales of inventory and pays SURMODICS the appropriate Earned Royalty for such sales as set out in Paragraph 4(a) of this Agreement. 
 ii. SURMODICS may terminate this Agreement in whole or with respect to any license granted herein upon thirty (30) days written notice for any material breach or default by INNERCOOL, including without
limitation, failure to comply with the confidentiality provisions of Paragraph 13, failure to make reports and payments when due, failure to pay Minimum Royalties, and withholding or notice of intent to withhold any royalties provided for in this
Agreement. Said termination under this Paragraph 10(a)(ii) shall become effective at the end of the thirty (30) day period unless during that period INNERCOOL shall first cure such breach or default. 
 iii. Upon termination of any license under any of the provisions of this Paragraph 10, but subject to the provisions of Paragraph l0(a)(i), referring to
the sale of inventory, INNERCOOL shall cease making, having made for it, using and selling the Licensed Products of such license that are produced through the use of SURMODICS’ Know-how. SURMODICS shall have the right to seek equitable relief
to enforce the provisions of this Paragraph 10(a)(iii). 
 b. Either party may terminate this Agreement if the other party hereto is involved
in insolvency, dissolution, bankruptcy or receivership proceedings affecting the operation of its business. 
 c. Notwithstanding the
provisions of Paragraph 20, failure of INNERCOOL to initiate bona fide commercial sales of any Licensed Product by the date set out for that Licensed Product in the respective Attachment B1, B2, and so forth, to this Agreement shall permit SURMODICS
to terminate the license for that Licensed Product upon thirty (30) days written notice at any time prior to the date INNERCOOL begins bona fide commercial sales of that Licensed Product. 
  

 8 

 d. In the event that all licenses granted herein are terminated, SURMODICS shall have the right to
terminate this Agreement in its entirety upon written notice. 
 11. CONTINUING OBLIGATIONS SUBSEQUENT TO TERMINATION 
 a. Upon any termination of this Agreement or any of the licenses granted herein, the following rights and obligations shall continue to the degree
necessary to permit their complete fulfillment or discharge: 
 i. SURMODICS’ right to receive and INNERCOOL’s obligation to pay
royalties to the extent owed; and 
 ii. INNERCOOL’s obligation to maintain records and SURMODICS’ right to audit under Paragraph 5,
with respect to sales made and to be made under Paragraph 10(a)(i); and 
 iii. Any cause of action or claim of either party, accrued or to
accrue, because of any breach or default by the other party; and 
 iv. The parties’ obligation to maintain confidentiality under
Paragraph 13; and 
 v. INNERCOOL’s obligation to forebear from use of SURMODICS’ Know-how as provided in Paragraph 10(a)(iii); and

 vi. The parties’ obligations under Paragraph 8(b), with respect to filing patent applications and under Paragraph 8(b) and Attachment
Bl - Paragraph 7 with respect to the payment of royalties on issued patents. 
 b. Within thirty (30) days of the date of termination of
this Agreement, each party shall return to the other party all copies of documents and other materials containing or disclosing any of the other party’s Confidential Information; provided, however, that each party shall be entitled to retain
one copy of such Confidential Information for archival purposes only. 
 12. REPRESENTATIONS AND WARRANTIES 
 a. Each party warrants to the other that it has not accepted and will not accept commitments or restrictions with respect to its rights or obligations
under this Agreement which will materially affect the value of the rights granted by SURMODICS nor the obligations undertaken by INNERCOOL. 
  

 9 

 b. Each party has the full and unrestricted right to enter into this Agreement. 
 c. Nothing in this Agreement shall be construed as: 
 i. A warranty or representation by SURMODICS as to the validity or scope of any Patent Rights; or 
 ii. A warranty or representation
that anything made, used, sold, or otherwise disposed of, or any process practiced, under any License granted in this Agreement is or will be free from infringement of patents of third persons; or 
 iii. A requirement that SURMODICS file any patent application, secure any patent, or maintain any patent in force; or 
 iv. An obligation to bring or prosecute actions or suits against third parties for infringement of any patent; or 
 v. An obligation to furnish any manufacturing or technical information not encompassed within Know-how; or 
 vi. Conferring any right on either party to use in advertising, publicity, or otherwise any trademark or trade name of the other; or 
 vii. Granting by implication, estoppel, or otherwise any licenses or rights under patents or other proprietary information of SURMODICS other than those
included within Patent Rights and Know-how. 
 d. WITH RESPECT TO PHOTO-REACTIVE REAGENTS SUPPLIED AT ANY TIME BY SURMODICS, SURMODICS
DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR A PARTICULAR PURPOSE. NOTWITHSTANDING ANYTHING TO THE CONTRARY, SURMODICS SHALL NOT BE LIABLE FOR INCIDENTAL,
CONSEQUENTIAL, SPECIAL, EXTRAORDINARY OR PUNITIVE DAMAGES OF ANY DESCRIPTION, WHETHER FOR DAMAGE TO REPUTATION OR GOODWILL, LOST PROFITS, CLAIMS OF THIRD PARTIES OR OTHERWISE, WHETHER SUCH ASSERTED DAMAGE PURPORTS TO BE BASED ON WARRANTY OR
GUARANTEE, INDEMNITY OR OTHER CONTRACT, CONTRIBUTION, NEGLIGENCE OR OTHER TORT, OR OTHERWISE. 
 e. SURMODICS does not make any
representations, extend any warranties of any kind, either express or implied, or assume any responsibilities whatever with respect to use, sale, or other disposition by INNERCOOL or its vendees or transferees of Licensed Products incorporating or
made by use of the Patent Rights and Know-how licensed under this Agreement. 
  

 10 

 f. INNERCOOL represents that it will take action to reasonably bring to market and to sell Licensed
Product throughout INNERCOOL’s world-wide marketing territory during the term of this Agreement. Failure to adequately promote and market Licensed Product may, at SURMODICS’ option, be interpreted as a material breach or default of this
Agreement. SURMODICS expects INNERCOOL to demonstrate appropriate product development activities, participate in clinical trials, submit appropriate regulatory or governmental filings for appropriate marketing clearances, integrate the Licensed
Product into INNERCOOL’s manufacturing operations, educate appropriate sales and marketing staff, and introduce and actively market the Licensed Product upon completion of product development and obtaining appropriate regulatory approvals.

 13. CONFIDENTIALITY 
 a. Each
party agrees to retain in confidence all Know-how and other information received from the other, including without limitation, information required to be maintained in confidence under prototype development or manufacturing scale-up or post scale-up
relationships between the parties, for a period of fifteen (15) years from the date of disclosure or five (5) years from the date of termination of this Agreement, whichever is longer. Each party agrees not to disclose any of such Know-how
or other information to third parties nor to use the same except in accordance with this Agreement. Each party’s obligation of non-disclosure and non-use shall not apply to information which: 
 i. at the time of its disclosure to the receiving party is available to the public; 
 ii. after disclosure becomes available to the public through no fault of the receiving party; 
 iii. the receiving party can show was in its possession at the time of disclosure to it by the other; 
 iv. the receiving party can show was received by it from a third party without breach of a confidential obligation; or 
 v. the receiving party is compelled by application of law or legal process to divulge, but the receiving party shall provide the disclosing party with
advance written notice before divulging the information to enable the disclosing party to seek a protective order or employ other means to preserve the confidential nature of that information. 
  

 11 

 Even after any of such information becomes available to the public, each party shall not disclose without
the other’s prior written approval the fact that such information was furnished by or originated with the other. 
 b. For the purpose of
this entire Paragraph 13, Know-how or other information which is specific shall not be deemed to be within any of the specified exceptions merely because it is embraced by more general information in such exception. In addition, any combination of
features shall not be deemed to be within any of the specified exceptions merely because individual features are in such exception, but only if the combination itself and its principle of operation are in such exception. 
 c. Notwithstanding the above, INNERCOOL specifically agrees that it will not disclose to any Affiliates or other third party any of SURMODICS’
Know-how relating to the manufacture of SURMODICS’ chemical reagents, the precise chemical composition of such reagents, how such reagents are tested, how they are quality controlled, and any other specific information concerning the production
of such reagents. 
 d. The provisions of this entire Paragraph 13 shall survive termination of this Agreement for any reason. 
 e. Nothing herein shall in any way affect the obligations of the parties under any prior secrecy or confidential disclosure agreements, including the
Prior Disclosure Agreement, which obligations shall continue in accordance with the terms of each such agreement to the extent not inconsistent with the present Agreement. 
 14. ASSIGNMENT 
 This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their successors and permitted assigns. Either party may assign its rights and obligations under this Agreement to a financially responsible third party, but only in connection with a complete transfer to the third party of the business
to which this Agreement pertains. The assigning party will so inform the other party to this Agreement without delay of any assignment made in accordance with the conditions of this Agreement. This Agreement shall not otherwise be assignable by
either party without the prior written consent of the other party. Any and all assignments of this Agreement or any interest therein not made in accordance with this paragraph shall be void. 
 15. GOVERNMENT APPROVAL 
 INNERCOOL shall have
the sole responsibility, at INNERCOOL’s sole expense, for obtaining any government approvals that may be required for the investigation or marketing of Licensed Products. 
  

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 16. PRODUCT LIABILITY 
 INNERCOOL will defend and indemnify SURMODICS against all losses, liabilities, lawsuits, claims, expenses (including attorney’s fees), costs, and judgments incurred through personal injury, property damage, or
other claims of third parties, arising from the design, manufacture, use, or sale of Licensed Products, except which are proximately caused solely by SURMODICS’ negligent conduct. 
 17. NO WAIVER 
 Any waiver of any term or condition of this Agreement by either party shall not
operate as a waiver of any other or continued breach of such term or condition, or any other term or condition, nor shall any failure to enforce a provision hereof operate as a waiver of such provision or of any other provision hereof. 

18. NOTICES 
 All communications or other
notices required or permitted under this Agreement shall be in writing and shall be deemed to be given when personally delivered, or when mailed by registered or certified mail, postage prepaid, and addressed as follows: 
 If to SURMODICS: 
 License
Administration 
 SurModics, Inc. 
 9924 West 74th Street 
 Eden Prairie, MN 55344 
 If to INNERCOOL: 
 License
Administration 
 Innercool Therapies, Inc. 
 3931 Sorrento Valley Blvd. 
 San Diego, CA 92121 
 Either party shall have the right to change the person and/or address to which notices hereunder shall be given, by notice to the other party in the
manner set out above. 
 19. CAPTIONS 
 The captions and headings of this Agreement are for convenience only and shall in no way limit or otherwise affect any of the terms or provisions contained herein. 
  

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 20. FORCE MAJEURE 
 Neither party shall be liable for failure to perform as required by any provisions of this Agreement where such failure results from a cause beyond such party’s reasonable control such as acts of God, regulation
or other acts of civil or military authority, required approval(s) of government bodies, fires, strikes, floods, epidemics, quarantine restrictions, riot, delays in transportation and inabilities to obtain necessary labor, materials, or
manufacturing facilities. In the event of any delay attributable to any of the foregoing causes, the time for performance affected thereby shall be extended for a period equal to the time lost by reason of such delay. The cumulative effect of all
such delays under this Paragraph 20 shall not exceed one (1) year. 
 21. NO AGENCY 
 Nothing in this Agreement authorizes either SURMODICS or INNERCOOL to act as agent for the other as to any matter, or to make any representations to any
third party indicating or implying the existence of any such agency relationship. SURMODICS and INNERCOOL shall each refrain from any such representations. The relationship between SURMODICS and INNERCOOL is that of independent contractors.

 22. SEVERABILITY 
 Should any
provision of this Agreement, or the application thereof, to any extent be held invalid or unenforceable, the remainder of this Agreement and the application thereof other than such invalid or unenforceable provisions shall not be affected thereby
and shall continue valid and enforceable to the fullest extent permitted by law or equity. 
 23. GOVERNING LAW 
 This Agreement shall for all purposes be governed and interpreted in accordance with the laws of the State of Minnesota, except for its conflict of laws
provisions. 
 24. ARBITRATION 
 a.
In the event of any dispute concerning this Agreement, including its interpretation, performance, breach or termination, the procedures of this Paragraph 24 shall apply; provided, however, that either party shall have the unrestricted right at any
time to seek a court injunction prohibiting the other party from making unauthorized disclosure or use of Confidential Information as provided for in Paragraph 13 or unauthorized use of SURMODICS’ Know-how as provided for in Paragraph
10(a)(iii). 
  

 14 

 b. Both parties will use good faith and reasonable efforts to resolve any dispute informally and as soon
as practical. If any such dispute is not resolved informally within a reasonable period, then an officer from each party, having authority to resolve the dispute, will meet at a mutually agreeable time and place to attempt to resolve the dispute.

 c. If the parties are unable to resolve a dispute as provided immediately above, either party may submit the dispute for resolution by
mandatory, binding arbitration in the city of Minneapolis, MN (or such other place as the parties may mutually agree) under the auspices of the American Arbitration Association under its Commercial Arbitration Rules. Each party shall select one
independent, qualified arbitrator and the two arbitrators so selected shall then select a third arbitrator in accordance with the Commercial Rules. Each party reserves the right to object to any individual arbitrator (no matter by whom chosen) who
has been employed by or affiliated with a competing organization. 
 d. The arbitrators, who shall act by majority vote, shall be empowered
to decree any and all relief of an equitable nature, including but not limited to temporary restraining orders, temporary injunctions, and/or permanent injunctions, and shall also be able to award damages, with or without an accounting of costs.
Judgment on the award rendered by the arbitrator(s) may be entered into any court having jurisdiction thereof. Each party shall bear its own costs and divide other reasonable arbitrator costs equally. 
 25. ENTIRE AGREEMENT 
 This Agreement, together
with the Prior Disclosure Agreement and all addenda, attachments, and writings required or contemplated hereby, constitutes the entire agreement between the parties with respect to the Licenses granted herein, and no party shall be liable or bound
to the other in any manner by any warranties, representations or guarantees except as specifically set forth herein. This Agreement shall not be altered or otherwise amended except by an instrument in writing signed by both parties. 
 IN WITNESS WHEREOF, the parties have executed this Agreement on the date last written below. 
  

					
	SurModics, Inc.	 		 	Innercool Therapies, Inc.
			
	 /s/ Walter H. Diers Jr
	 		 	 /s/ John Dobak

	Signature	 		 	Signature
			
	 Walter H. Diers Jr
	 		 	 John Dobak

	Printed Name	 		 	Printed Name
			
	 Vice President
	 		 	 CEO

	Title	 		 	Title
			
	 1 December 1999
	 		 	 11/29/99

	Date	 		 	Date

  

 15 

 ATTACHMENT A 
 SurModics, Inc. U.S. Patents (may be listed under previous name, BSI Corporation) 
  

	1.	METHOD OF IMPROVING THE BIOCOMPATIBILITY OF SOLID SURFACES 

	 	U.S.	Patent No. 4,973,493 issued 11/27/90 

  

	2.	BIOCOMPATIBLE COATINGS FOR SOLID SURFACES 

	 	U.S.	Patent No. 4,979,959 issued 12/25/90 

  

	3.	PREPARATION OF POLYMERIC SURFACES VIA COVALENTLY ATTACHING POLYMERS 

	 	U.S.	Patent No. 5,002,582 issued 3/26/91 

  

	4.	BIOMOLECULE ATTACHMENT TO HYDROPHOBIC SURFACES 

	 	U.S.	Patent No. 5,217,492 issued 6/8/93 

  

	5.	METHOD OF BIOMOLECULE ATTACHMENT TO HYDROPHOBIC SURFACES 

	 	U.S.	Patent No. 5,258,041 issued 11/2/93 

  

	6.	BIOCOMPATIBLE DEVICE WITH COVALENTLY BONDED BIOCOMPATIBLE AGENT 

	 	U.S.	Patent No. 5,263,992 issued 11/23/93 

  

	7.	RESTRAINED MULTIFUNCTIONAL REAGENT FOR SURFACE MODIFICATION 

	 	U.S.	Patent No. 5,414,075 issued 5/9/95 

  

	8.	SUBSTRATE SURFACE PREPARATION 

	 	U.S.	Patent No. 5,512,329 issued 4/30/96 

  

	9.	PREPARATION OF CROSSLINKED MATRICES CONTAINING COVALENTLY IMMOBILIZED CHEMICAL SPECIES AND UNBOUND RELEASABLE CHEMICAL SPECIES 

	 	U.S.	Patent No. 5,563,056 issued 10/08/96 

  

	10.	RESTRAINED MULTIFUNCTIONAL REAGENT FOR SURFACE MODIFICATION 

	 	U.S.	Patent No. 5,637,460 issued 6/10/97 

  

	11.	PHOTOACTIVATABLE WATER SOLUBLE CROSSLINKING AGENTS CONTAINING AN ONIUM GROUP 

	 	U.S.	Patent No. 5,714,360 issued 02/03/98 

  

 16 

 SurModics, Inc. U.S. Patent Applications (may be listed under previous name, BSI Corporation) 
  

	1.	VIRUS INACTIVATING COATINGS 

 Filed 6/7/95 
  

	2.	METHOD AND IMPLANTABLE ARTICLE FOR PROMOTING ENDOTHELIALIZATION 

 Filed 5/26/95 
 SurModics, Inc. Foreign Patents (may be listed under previous name, BSI Corporation) 
  

	1.	IMPROVEMENT OF THE BIOCOMPATIBILITY OF SOLID SURFACES 

 Canadian Patent No. 1305068, issued 7/14/92 
 Australian Patent No. 615637, issued 10/16/87 
 EPO Patent No. 0326579, issued 1/11/95 
  

	2.	BIOMOLECULE ATTACHED TO A SOLID SURFACE BY MEANS OF A SPACER AND METHODS OF ATTACHING BIOMOLECULES TO SURFACES 

 Canadian Patent No. 1335721, issued 5/30/95 
 SurModics, Inc. Foreign Patent Applications (may be listed under previous name, BSI Corporation) 
  

	1.	BIOCOMPATIBLE COATINGS 

 Filed in Canada, Europe, Japan,
Denmark, and Norway 
  

	2.	PREPARATION OF POLYMERIC SURFACES 

 Filed in Canada,
Europe, Japan, Denmark, and Norway 
  

	3.	IMMOBILIZATION OF CHEMICAL SPECIES IN CROSSLINKED MATRICES 

 Filed in Canada, Europe, Australia, Japan 
  

	4.	IMPROVEMENT OF THE BIOCOMPATIBILITY OF SOLID SURFACES 

 Filed in Japan 
  

	5.	RESTRAINED MULTIFUNCTIONAL REAGENTS FOR SURFACE MODIFICATION 

 Filed in Canada, Europe, Australia and Japan 
  

 17 

 ATTACHMENT B1 
 Heating/Cooling Catheter 
  

	1.	MEDICAL PRODUCTS 

 “Medical Products”
means a single-use, temporary (less than 7 days) catheter placed within the vascular system that is designed, labeled and approved (as may be required by appropriate governmental authority prior to sale) for the purpose of in situ heating or cooling
of blood. For the avoidance of doubt, such catheters shall not be designed, labeled or approved for the purpose of infusing or delivering any therapeutic or embolic agents or for the delivery or placement of permanently implantable therapeutic
devices (including embolic devices), while the distal tip of such catheter resides at or above the common carotid artery. For purposes of this Attachment B1, saline solutions and contrast media (for placement or diagnostic purposes) are not
considered therapeutic agents. 
  

	2.	LICENSED PRODUCT 

 “Licensed Products”
means Medical Products which are surface-treated with photo-reactive polyvinylpyrrolidone, photo-reactive heparin, diphoto diquat (photo-reactive crosslinking compound) or any combination of these photo-reactive reagents. 
  

	3.	GRANT OF LICENSE 

 The license granted under this
Attachment is non-exclusive. 
  

	4.	LICENSE FEES 

 INNERCOOL will pay to SURMODICS a
total of $50,000 in nonrefundable License Fees for this Attachment due according to the following schedule: 
 $25,000 upon execution of this
Attachment. 
 $25,000 upon first commercial sale of Licensed Product or two years from the date of execution of this Attachment, whichever is
earlier. 
  

	5.	ROYALTY PAYMENTS 

 INNERCOOL shall pay to SURMODICS
a royalty, for the Patent Rights and Know-how license granted herein, which will be the greater of Paragraphs 5(a) or 5(b) as follows: 
 a.
Earned Royalties calculated as a percentage of Net Sales ($U.S.) of Licensed Products sold in each calendar year. The percentage to be used in each calculation during each calendar year shall be based upon the cumulative Net Sales of Licensed
Product in the calendar year as follows: 
  

 18 

				
	 Net Sales in Each Calendar Year
	  	Earned Royalty Rate	 
	On the first $15,000,000	  	2.50	%
	On the next $15,000,000	  	2.25	%
	On Net Sales over $30,000,000	  	2.00	%

 b. Quarterly Minimum Royalties for all Attachment B1 Licensed Products during the periods specified as follows:

  

				
	 Minimum Royalty Periods
	  	Quarterly Minimum Royalty
	January 1, 2002 to December 31, 2002	  	$	5,000
	January 1, 2003 to December 31, 2003	  	$	10,000
	January 1, 2004 to December 31, 2004	  	$	20,000

 For the quarter calendar year commencing with January 1, 2005, and each year thereafter, the
quarter calendar year Minimum Royalty shall be the prior year’s quarterly Minimum Royalty adjusted by a percentage equal to the percentage change in the “Consumer Price Index For All Urban Consumers” for the prior calendar year as
reported by the U.S. Department of Labor. 
  

	6.	PERFORMANCE 

 a. Failure of INNERCOOL to begin bona
fide commercial sales by January 1, 2003, of a Licensed Product as defined in this Attachment, shall permit SURMODICS to terminate the license for that Licensed Product upon thirty (30) days written notice at any time prior to the date
INNERCOOL begins bona-fide commercial sales of that Licensed Product. 
 b. If, after January 1, 2003, there are four
(4) consecutive quarters in which INNERCOOL fails to generate Earned Royalties under Paragraph 5(a) of this Attachment then upon thirty (30) days written notice given to INNERCOOL, the license granted herein shall, at SURMODICS’
option, be terminated. 
  

	7.	ADDITIONAL LICENSE 

 With respect to patentable
inventions related to Medical Products, exclusive of surface modifications, conceived or first reduced to practice during the term of this Attachment Bl solely by SURMODICS employees, SURMODICS hereby agrees to provide INNERCOOL with a
non-exclusive, worldwide license to make, have made for it by a Manufacturer as defined herein, use and sell products and processes covered by such patent. Such license provides no rights to sublicense. In return for such license, any such patent
shall be considered a part of Patent Rights. Such license, and INNERCOOL’s obligation to pay royalties thereunder, shall survive termination of this Agreement, except termination for breach by INNERCOOL of royalty obligations hereunder.

  

 19 

	8.	OTHER 

 SURMODICS represents that it currently owns
no other or further patents or patent applications not included in Patent Rights that would be infringed by the manufacture, use, offer for sale or sale of the Licensed Products of this Attachment B1. 
 The Licensed Product Effective Date of this Attachment shall be the date last written below or the date on which SURMODICS receives all payments due upon execution of
this Attachment, whichever is later. 

					
			
	 SurModics, Inc.
	 		 	 Innercool Therapies, Inc.

			
	 /s/ Walter H. Diers Jr
  
	 		 	 /s/ John Dobak
  

	 Signature
	 		 	 Signature

			
	 Walter H. Diers Jr
  
	 		 	 John Dobak
  

	 Printed Name
	 		 	 Printed Name

			
	 Vice President
  
	 		 	 CEO
  

	 Title
	 		 	 Title

			
	 1 December 1999
  
	 		 	 11/29/99
  

	 Date
	 		 	 Date

  

 20 

 ATTACHMENT C 
 Manufacturer Agreement and SurModics’ Consent 
                                       
                                        
                                        
                                   (“Manufacturer”) which is
located at 
 ________________________________________________________________________________________________________________________________________________

 states, that it has read and understands the Master License Agreement between SurModics, Inc. (“SURMODICS”) and Innercool Therapies, Inc.
(“INNERCOOL”), and that it desires to manufacture Licensed Product as permitted in that Master License Agreement. In return for SURMODICS’ consent to manufacture Licensed Product solely for sale by INNERCOOL, and for other valuable
consideration of which receipt and sufficiency are acknowledged, Manufacturer agrees with SURMODICS that Manufacturer shall faithfully carry out and be bound by the obligations imposed on INNERCOOL, including, without limitation, Paragraphs 8, 10,
11, 13, 14, 16 and 24 of the Master License Agreement, to the extent applicable to Manufacturer’s activities. 
 Manufacturer further agrees: 
  

	 	1.	SURMODICS confidential information and SURMODICS Know-how will be provided only to employees with the above identified facility who have a need to know such information for the
specific purpose of manufacturing Licensed Products. 

  

	 	2.	Photo-reactive chemical compounds manufactured by SURMODICS shall not be transferred by Manufacturer to any other facility of Manufacturer without the express written permission of
SURMODICS. 

  

	 	3.	Employees of Manufacturer will make no attempt to reverse engineer, in whole or in part, any confidential information (including photo-reactive compounds) of SURMODICS.

 This Agreement shall be effective upon the last date written below, and shall terminate automatically and without notice upon the
termination or expiration of the relevant license under the Master License Agreement. 
  

					
	 Consented to by
 SurModics, Inc.
	 		 	 Agreed to by
 Manufacturer

	  
	 		 	  

	Signature	 		 	Signature
			
	  
	 		 	  

	Printed Name	 		 	Printed Name
			
	  
	 		 	  

	Title	 		 	Title
			
	  
	 		 	  

	Date	 		 	Date

  

 21

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