Document:

Master Services and Licensing Agreement

 Exhibit 10.20 

MASTER SERVICES AND LICENSING AGREEMENT 

BETWEEN 

CEDARA SOFTWARE CORP., an Ontario corporation, 

(hereinafter referred to as “Cedara”) 

and 

SURGI-VlSION, INC., a Delaware corporation, 

(hereinafter referred to as “Surgi-Vision”) 

 RECITALS 

WHEREAS, Cedara develops and distributes software applications for use in diagnostic imaging; 

AND WHEREAS, Surgi-Vision has developed a set of products and technologies that enable various MRI-guided procedures and therapeutic
interventions (the “Surgi-Vision Technology”); 
 AND WHEREAS, Surgi-Vision and Cedara wish to establish a
legal relationship under which Cedara will develop software to support the Surgi-Vision technology; 
 NOW,
THEREFORE, in consideration of the mutual covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto have decided to enter into this Master Services and
Licensing agreement (this “Agreement”), dated and effective from the
20th day
 of July, 2007 (the “Effective Date”), under the terms and conditions set forth below; 
  

	1.	 STANDARD DEFINITIONS 

  

	1.1	 Definitions 

  

	 	(a)	 “Agreement” means this Agreement, including the Schedules to this Agreement, and any Statements of Work made hereunder, as it or
they may be amended or supplemented from time to time, and the expressions “hereof”, “herein”, “hereto”, “hereunder”, “hereby” and similar expressions refer to this Agreement and to any particular
Section or other portion of this Agreement. 

  

	 	(b)	 “Business Day” means Monday to Friday except any statutory holiday observed in the Province of Ontario and “Business
Hour” means each hour from 9:00 am to 5:00 pm E.S.T. during a Business Day. 

  

	 	(c)	 “Cedara Software” means software, in object code form, used to develop the Solution that is owned by or in possession of Cedara
prior to the Effective Date or developed or acquired by Cedara during the Term independent of this Agreement or that is developed pursuant to this Agreement and determined to be owned by Cedara in accordance with Section 5.2.

  

	 	(d)	 “Change Request” means a written request for changes to any Custom Engineering Services. 

 

	 	(e)	 “Confidential Information” has the meaning attributed to it in Section 11.1. 

 

	 	(f)	 “Custom Engineering Services” means the custom engineering services offered by Cedara to Surgi-Vision in accordance with
Section 2. 

  

	 	(g)	 “Documentation” means the documentation which facilitates the use of the Cedara Software and that is provided to Surgi-Vision under
the terms of this Agreement. 

  

	 	(h)	 “Effective Date” has the meaning attributed to it in the Recitals. 

 

	 	(i)	 “End User” means any person or organization that is granted rights to a Solution for use in processing its own data in the normal
course of its business activities. 

  

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	 	(j)	 “Engineering Team” means the team of custom engineering resources assigned by Cedara to Surgi-Vision in accordance with the terms
of this Agreement. 

  

	 	(k)	 “Initial Term” has the meaning attributed to it in Section 6.1. 

 

	 	(l)	 “Off-shore Engineer” means an engineer located outside North America. 

 

	 	(m)	 “On-shore Engineer” means an engineer located in North America. 

 

	 	(n)	 “Parties” means Cedara and Surgi-Vision and “Party” means either of them. 

 

	 	(o)	 “Professional Services” means the professional support services offered by Cedara to Surgi-Vision in accordance with Schedule B.

  

	 	(p)	 “Project(s)” means the specific Custom Engineering Services projects undertaken by Cedara at Surgi-Vision’s request from time
to time. 

  

	 	(q)	 “Renewal Term” has the meaning attributed to it in Section 6.1. 

 

	 	(r)	 “Solution” means a customized viewer software solution, Incorporating the Cedara Software, which supports the Surgi-Vision
Technology. 

  

	 	(s)	 “Statement of Work” or “SOW” means any work order made between the Parties which references and incorporates the
terms of this Agreement, and sets out the details of a particular Project including, without limitation, any applicable (i) Solution requirements; (ii) methodologies; (iii) project responsibilities; (iii) delivery milestones;
(iv) support; and (v) costs. 

  

	 	(t)	 “Surgi-Vision Technology” has the meaning attributed to it in the Recitals. 

 

	 	(u)	 “Term” means the period specified in Section 6 of this Agreement. 

 

	2.	 BUSINESS TERMS 

  

	2.1	 Custom Engineering Services 

  

	 	2.1.1	 General 

Surgi-Vision shall engage Cedara in various Custom Engineering Services Projects throughout the Term. Each Project shall
be defined by a Statement of Work signed by both Parties and numbered sequentially. Statement of Work No.1, covering the initial Project of defining the functional requirements for development of the Solution, is attached hereto as Schedule A. The
development of such Solution shall be based on the results of Statement of Work No.1 and shall be covered under a separate SOW. 
  

	 	2.1.2	 Engineering Team 

The Engineering Team shall consist of a combination of On-shore Engineers and Off-shore Engineers. The composition of
On-shore Engineers and Off-shore Engineers for any particular Project shall be specified in the applicable SOW. 
  

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	 	2.1.3	 Project Management 

For each Project, each Party shall assign a project manager who shall be responsible for their respective Party’s
deliverables as defined by the Statement of Work. It is acknowledged and agreed that Cedara’s ability to meet Project milestone dates and deliverable requirements may, in whole or in part, be dependant upon Surgi-Vision’s timely response
to Cedara’s reasonable requests for co-operation made from time to time. 
  

	 	2.1.4	 Change Requests 

  

	 	(a)	 Proposed changes to any Custom Engineering Services may be initiated by Surgi-Vision by giving a Change Request to Cedara. Once a change is
initiated by Surgi-Vision, Cedara shall add a description of the following to the applicable Change Request: (i) the proposed changes to the Solution; (ii) any associated changes to the fees or estimated fees, and any changes to the dates
set out in the applicable SOW; and (iii) any other applicable terms and conditions. Surgi-Vision acknowledges that time required by Cedara to respond to Change Requests may cause delays in achieving milestones. 

 

	 	(b)	 Cedara may initiate a change to any Custom Engineering Services by giving Surgi-Vision a Change Request that includes a description of: (i) the
proposed changes to the Custom Engineering Services; (ii) any associated changes to the fees or estimated fees, and any changes to the dates set out in the applicable SOW; and (iii) any other applicable terms and conditions.

  

	 	(c)	 Once any Change Request is signed by both Parties, it becomes a “Change Order”. The changes set out in any Change Order shall
constitute amendments to this Agreement and any applicable SOWs. Subject to subsection (d) below, if any Change Request is not signed by both Parties within 10 days of its submission by either Party, it is deemed to be withdrawn. Subject to the
provisions of this Agreement, the Parties shall continue to be bound by the terms and conditions of any SOW made hereunder without regard to the provisions of any Change Request until such time as a Change Order is executed by both Parties.

  

	 	(d)	 If a Change Request is delivered by Cedara and indicates that the change(s) are related to unforeseeable deficiencies in the original
specifications, or errors on the part of the Surgi-Vision, and the Change Request is rejected by Surgi-Vision, Cedara may, in its sole discretion, either: 

 

	 	(i)	 immediately terminate the applicable SOW; or 

  

	 	(ii)	 complete the delivery of the SOW, provided that Surgi-Vision shall be deemed to have waived its rights to all warranties and support otherwise
applicable to any part of the Custom Engineering Services directly affected by the specified changes. 

  

	 	2.1.5	 Ongoing Management 

All disputes which may arise with respect to any matter related to any Custom Engineering Services shall, to the extent
possible, be resolved by the project managers for each Party, as soon as practicable and in any event within 10 Business Days of when it arises. If the project managers fail to resolve the dispute within 10 Business Days of when it arises, then
their respective supervisors or other senior executives designated by the Parties shall work to resolve 
  

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the dispute, as soon as practicable and in any event within 10 Business Days of when it was referred to them. Each Party shall ensure that its representative for such discussions has the
necessary authority to resolve any dispute on behalf of that Party. 
  

	 	2.1.6	 Fees and Payment 

Surgi-Vision shall pay Cedara for Custom Engineering Services according to an [***]. Surgi-Vision shall also reimburse
Cedara for all pre-approved travel and living expenses incurred by Cedara that are necessary to enable Cedara to perform the Custom Engineering Services. Unless otherwise specified in the applicable SOW, Cedara shall invoice Surgi-Vision on a
monthly basis for Custom Engineering Services. 
  

	 	2.1.7	 [***] 

  

	2.2	 Licensing Terms and Conditions 

  

	 	2.2.1	 License Terms 

Cedara grants to Surgi-Vision a non-exclusive, worldwide license during the Term to use, make copies of, distribute,
market and sell licenses to the Cedara Software to End Users for use as an integrated component of the Solution and under Surgi-Vision’s trademarks and service marks, and to use the Documentation in support of the foregoing grant of rights.

  

	 	2.2.2	 Restrictions With Respect to Cedara Software 

The rights to the Cedara Software granted by Cedara to Surgi-Vision herein are subject to the following restrictions:

  

	 	(a)	 Surgi-Vision shall not modify, adapt, alter, translate, copy or otherwise use the Cedara Software or Documentation except as expressly permitted in
this Agreement; 

  

	 	(b)	 Surgi-Vision shall not attempt to reverse engineer, decompile, disassemble or otherwise render the Cedara Software into human readable form in order
to gain access to the source code in any way, or to produce any work derived from the Cedara Software; 

  

	 	(c)	 the Solution may only be distributed subject to the terms and conditions of an End User agreement as specified in Section 2.1.3, and, except as
otherwise expressly permitted in this Agreement, Surgi-Vision shall not transfer the rights granted to it under this Agreement; 

  

	 	(d)	 Surgi-Vision shall take all necessary measures to ensure that persons under its direction and control abide by the terms and conditions of this
Agreement; 

  

	 	(e)	 Surgi-Vision shall only represent the performance of the Cedara Software as stated in the most current Documentation provided to Surgi-Vision by
Cedara from time to time; and 

 [***] Indicates portions of this exhibit that have been omitted and filed
separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 
  

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	 	(f)	 Surgi-vision shall obtain any governmental approvals required to discharge Surgi-Vision’s obligations in this Agreement. In addition,
Surgi-Vision shall obtain any required qualifications as soon as practicable under the applicable governmental requirements. Cedara agrees to use reasonable efforts to assist Surgi-Vision in obtaining such approvals or qualification and to institute
such design changes as may be required for such qualification. 

  

	 	2.2.3	 End User Agreements 

Surgi-Vision shall enter into an agreement with each End User, and shall include provisions in such agreement that are at
a minimum as protective to Cedara as the following: 
  

	 	(a)	 each license to the Solution shall be valid only for a single workstation identified by a serial number. The license may be transferred to another
identified workstation upon prior written consent of Cedara; 

  

	 	(b)	 End Users may use the Cedara Software only as integrated component of the Solution and strictly for their own internal business purposes, and may
not sell, rent, lease, license, time share or otherwise transfer or provide access to the Cedara Software to any third parties; 

  

	 	(c)	 End Users, may not reproduce, modify, adapt, alter, translate, reverse engineer, decompile, disassemble or otherwise render the Cedara Software into
human readable form in order to gain access to the Cedara Software source code in any way, or to produce any work derived from the Cedara Software or translate or create other versions of the Cedara Software; 

 

	 	(d)	 End Users shall not modify or remove any copyright or other proprietary rights notices in or on the Cedara Software or Documentation; and

  

	 	(e)	 Cedara shall have no liability to the End User for any express or implied warranties or any indirect, incidental, special or consequential damages.

 Surgi-Vision’s failure to enforce the terms of the End User agreement shall constitute
a breach of this Agreement 
  

	 	2.2.4	 License Fees and Minimum Commitment 

Surgi-Vision shall pay to Cedara a run-time license fee of [***] for each Solution distributed by Surgi-Vision, provided
that the [***] shall be at no charge. Surgi-Vision agrees to purchase a minimum of [***] licenses during the second year of this Agreement (in addition to the [***] granted at no charge) and [***] during each of the last 3 years of the initial Term
for an annual commitment during the second year of $175,000 and an annual commitment during each of the last 3 years of $525,000 (each, an “Annual Minimum Commitment”). Within 30 days following the end of each of the last 4 years of
the initial Term, Cedara will invoice Surgi-Vision for the difference, if any, between the actual license fees paid and the Annual Minimum Commitment for that year. 
  

	2.3	 Professional Services 

Surgi-Vision may purchase Professional Services for the fees set forth in Schedule B. 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant
to a request for confidential treatment. 
  

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	2.4	 Training 

Cedara shall provide technical and applications training to Surgi-Vision which may require Surgi-Vision to send one or
more persons to Toronto, Canada. All training programs offered by Cedara are designed as “train-the-trainer” courses and are intended for deployment and application specialists as well as the first-line support staff. 

Surgi-Vision shall submit training requests to Cedara through the CustServ@cedara.com email address. 

The fees for training are set out in Schedule B. 

 

	3.	 PAYMENT TERMS 

  

	3.1	 Taxes 

Fees do not include applicable taxes or import duties. Surgi-Vision shall pay such taxes or duties either directly or when
invoiced by Cedara, or shall supply appropriate tax exemption certificates in a form satisfactory to Cedara. 
  

	3.2	 Payment 

Unless otherwise indicated, Cedara invoices shall be due and payable to Cedara within 15 days of receipt of invoice by
Surgi-Vision. Any undisputed payment not paid within such 15-day period shall bear interest from the date payment is due until paid at the lesser of either a monthly compounded interest rate of 1.5% (19.56% per annum) or the highest interest rate
allowed at law. If a dispute over an invoice is not resolved within 30 days of receipt of such invoice by Surgi-Vision, Cedara may suspend all services and licensing rights provided for under this Agreement until such dispute is resolved to the
mutual satisfaction of the Parties. Surgi-vision agrees to reimburse Cedara for all reasonable costs and expenses incurred by Cedara in enforcing payment. 

Payments are to be made by wire transfer or electronic payment through the Automated Clearing House (ACH) to Cedara
according to the terms specified herein, using all of the following banking information exactly as shown: 

First Deposit to: 

[***] 
  

 [***] Indicates portions of this exhibit that have been omitted and filed separately
with the Securities and Exchange Commission pursuant to a request for confidential treatment. 
  

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 [***] 

Alternatively, payment can be made by Cheque payable to Cedara Software Corp. 

 

			
	 Cheques shall be mailed or couriered to:
	  	 Cedara Software Corp.

		  	 6509 Airport Road, Mississauga,

		  	 Ontario, L4V 1S7, Canada

		  	 Attention: Finance Department

 

	3.3	 Currency 

All monetary amounts in this Agreement shall be in US dollars, unless expressly stated to the contrary. 

 

	4.	 RECORDS AND AUDIT 

Surgi-Vision shall maintain written records (“Records”) of all copies made by Surgi-Vision of the Cedara
Software, or any portions thereof, and of all sublicenses of the Cedara Software and on written notice by Cedara, Surgi-Vision shall provide a copy of the Records to Cedara for inspection. 

Cedara shall have the right to direct a qualified agent to audit Surgi-Vision’s compliance with the terms of this
Agreement. The audit shall occur during normal business hours and at Cedara’s expanse, unless the audit reveals that Surgi-Vision is not in material compliance with this Agreement, in which case Surgi-Vision shall pay all expenses associated
with the audit and shall immediately pay to Cedara the fees for any unauthorized copies of the Cedara Software based on Cedara’s product transfer price list from the later of the date of the last audit or the Effective Date of this Agreement.

  

	5.	 PROPRIETARY RIGHTS 

  

	5.1	 Cedara Software 

The Cedara Software owned by or in possession of Cedara prior to the Effective Date or developed or acquired independent
of this Agreement during the Term, and any enhancements or modifications thereto or derivatives thereof, shall be owned exclusively by Cedara or its suppliers, as applicable, and except as expressly provided for in this Agreement, all rights, title
and interest therein are reserved by Cedara or its suppliers, as indicated by Cedara. 
  

	5.2	 Software Development 

Cedara acknowledges and agrees that any and all work product and intellectual property developed or created by Cedara at
the direction of Surgi-Vision and accepted by Cedara or otherwise using Surgi-Vision’s Confidential Information or intellectual property, that is developed specifically for Surgi-Vision and has unique application to the Surgi-Vision Technology
(“Surgi-Vision Work Product”), is the sole and exclusive property of Surgi-Vision and are “works made for hire” within the meaning of the United States Copyright Act of 1976, 17 U.S.C. $101 et seq. To the extent any
Surgi-Vision Work Product does not constitute a “work made for hire” under the United States Copyright Act, Cedara hereby irrevocably assigns, transfers and sets over absolutely to Surgi-Vision, and shall cause each of its employees to
assign to Surgi-Vision, all right, title and interest (whether now in existence or hereafter arising) in and to any Surgi-Vision 

 

 [***] Indicates portions of this exhibit that have been omitted and filed separately
with the Securities and Exchange Commission pursuant to a request for confidential treatment. 
  

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Work Product and any intellectual property related thereto. For greater certainty, the Surgi-Vision Work Product shall not include any components of the Cedara Software. 

 

	6.	 TERM AND TERMINATION 

  

	6.1	 Term of the Agreement 

The initial term of this Agreement is for 5 years commencing on the Effective Date (the “Initial Term”).
Thereafter, this Agreement shall automatically renew for up to 3 successive periods of 12 months (each, a “Renewal Term”), unless Surgi-Vision gives written notice to Cedara of its intention not renew a minimum of 30 days prior to
the expiry of the Initial Term or the then current Renewal Term, as applicable, provided that Cedara may amend the Custom Engineering Services fees and/or Professional Services fees during any Renewal Term with a minimum of 30 days prior written
notice to Surgi-Vision. The Initial Term and any Renewal Terms shall collectively comprise the “Term. 
  

	6.2	 Termination 

  

	 	6.2.1    	 Termination for Cause 

Notwithstanding the foregoing provisions of Section 6.1, this Agreement and any SOW made hereunder may be terminated
immediately by either Party if: 
  

	 	(a)	 the other Party ceases to carry on business in the normal course, becomes or is declared insolvent or bankrupt, is subject to any proceeding
relating to its liquidation, insolvency or for the appointment of a receiver or similar officer for it, makes a general assignment for the benefit of all or substantially all of its creditors, or enters into an agreement for the composition,
extension or readjustment of all or substantially all of its obligations; or 

  

	 	(b)	 the other Party breaches any material obligation under this Agreement and such breach has continued uncured for a period of 20 days after receiving
written notice of the breach. 

  

	 	6.2.2    	 Procedure on Termination 

Upon expiration or termination of this Agreement for any reason: 

 

	 	(a)	 Surgi-Vision shall promptly cease representing, quoting, selling, sublicensing or otherwise using the Cedara Software (including as part of the
Solutions); 

  

	 	(b)	 Surgi-Vision shall promptly return to Cedara all copies of the Cedara Software. Documentation or data originally provided by Cedara and which are
the property of Cedara; 

  

	 	(c)	 Surgi-Vision shall pay all outstanding invoices or amounts owing to Cedara which shall become immediately due and payable on notice of termination:
and 

  

	 	(d)	 Cedara shall deliver any specifications, designs, technical materials and other instructions developed or provided by Surgi-Vision to Cedara, which
the parties acknowledge and agree are exclusively owned by Surgi-Vision. 

  

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 Termination and the foregoing remedies shall be in addition to, and not in
lieu of, any other remedies that either Party may have at law or in equity and shall not relieve either Party of liability for any breach of contract occurring prior to the effective date of termination. 

 

	 	6.2.3	     Non- Termination of End User Licenses 

Notwithstanding the termination or expiry of this Agreement, all End User licenses granted by Surgi-Vision prior to such
termination or expiry shall continue to be in full force and effect, subject to their terms. 
  

	7.	 BRANDING 

Surgi-Vision shall market the Solutions using its own trademarks, logos, symbols, designs and other designations or
brands. Notwithstanding the foregoing, Surgi-Vision shall not alter, remove or obscure any Cedara copyright, trade-mark or other proprietary rights notices which are incorporated in or on the Cedara Software or Documentation. 

 

	8.	 INDEMNITIES 

  

	8.1	 Intellectual Property Rights Indemnities 

Cedara shall defend, indemnity and hold harmless Surgi-Vision, and its directors, officers, employees, contractors, agents
and suppliers, from any claims, losses, damages, penalties, judgments and liabilities, including all reasonable related costs and expenses, arising in connection with any action or claim that the Cedara Software infringes any Canadian or United
States patent or any other intellectual property and/or proprietary right of a third party, provided that (i) Surgi-Vision cooperates with Cedara’s reasonable requests for assistance in the defence; and (ii) Cedara controls the
defence, negotiation and settlement of any such claim; provided, that Cedara shall not settle or compromise any claim that would adversely affect the rights of Surgi-Vision without the prior written consent of Surgi-Vision, such consent not to be
unreasonably withheld. 
  

	8.2	 Surgi-Vision Remedies 

In addition to any and all remedies provided under Section 8.1 above, it Surgi-Vision cannot use the Cedara Software
because a court of final appeal has held that its use constitutes an infringement of a third party’s intellectual property rights, Cedara shall, in its sole discretion and as Surgi-Vision’s sole recourse, provide Surgi-Vision with one of
the following remedies: 
  

	 	(a)	 without impairing Cedara Software functionality or performance in any material adverse way, (i) modify the infringing portion of the Cedara
Software so that it is non-infringing or (ii) replace the Cedara Software with equally suitable, non -infringing components; or 

  

	 	(b)	 procure for Surgi-Vision the right to continue to use the infringing Cedara Software. 

 

	8.3	 Exclusion 

Cedara shall have no liability to Surgi-Vision with respect to any claim of intellectual property rights infringement
caused by (i) Surgi-Vision’s modifications to the Cedara Software or combination of the Cedara Software with non-Cedara products; (ii) Surgi-Vision’s continued use of the infringing Cedara Software after having been notified of
the alleged infringement; (iii) Surgi- 
  

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Vision’s failure to use modifications to the Cedara Software supplied by Cedara that would have avoided the infringement; or (iv) modifications made to the Cedara Software by any person
or entity other than Cedara or by Cedara at the Surgi-Vision’s directions or specifications. 
  

	8.4	   Distribution of Solutions 

Surgi-Vision agrees to defend, indemnify and hold harmless Cedara and its affiliates, and each of their respective
directors, officers, employees, contractors, agents and suppliers, from any claims, liabilities or damages, and related costs and expenses, arising out of or related to Surgi-Vision’s use or distribution of the Cedara Software that is in breach
of the terms and conditions of this Agreement or any claim that the Surgi-Vision Technology infringes any Canadian or United States patent or any other intellectual property and/or proprietary right of a third party, provided that (i) Cedara
cooperates with Surg-Vision’s reasonable requests for assistance in the defence; and (ii) Surgi-Vision controls the defence, negotiation and settlement of any such claim; provided, that Surgi-Vision shall not settle or compromise any claim
that would adversely affect the rights of Cedara without the prior written consent of Cedara. such consent not to be unreasonably withheld. 
  

	8.5	   Notice 

Each Party shall promptly provide the other with written notice of any claim or information that might lead to a claim for
indemnity under this Section 8. Failure by the Party seeking indemnity to notify the indemnifying Party of such claim or information, which results in the indemnifying Party being materially prejudiced, shall relieve the Indemnifying Party of
its liability under this indemnity provision. 
  

	9.	   NON- SOLICITATION 

Until this Agreement is terminated, and for a period of 1 year following, neither Party shall hire, employ, retain or
solicit any person who is an employee, officer, director of full-time independent contractor of the other Party and who, but for this Agreement, would otherwise be unknown to that Party. The Parties acknowledge that in view of the recruitment
difficulties, costs of training staff in the computer industry and the highly sensitive nature of Intellectual property rights of both Parties, this restriction is reasonable. 

 

	10.	   LEGAL RISK MANAGEMENT 

  

	10.1	   Advisory Device 

IN CIRCUMSTANCES WHERE THE CEDARA SOFTWARE SHIPPED TO SURGI-VISION HAS NOT BEEN MADE COMMERCIALLY GENERALLY AVAILABLE
(“PRE-GMA”) (FOR EXAMPLE, EVALUATION SOFTWARE PRODUCTS), SURGl-VISION ACKNOWLEDGES AND AGREES THAT SUCH PRE-GMA CEDARA SOFTWARE HAS NOT BEEN TESTED OR APPROVED FOR COMMERCIAL OR OPERATIONAL RELEASE OTHER THAN FOR CLINICAL EVALUATION (WHERE
APPLICABLE) IN A CONTROLLED ENVIRONMENT AND THAT IT IS TO BE USED FOR EVALUATION PURPOSES ONLY WITH THE HIGHEST POSSIBLE STANDARD OF CARE. 

SURGI-VISION ACKNOWLEDGES THAT THE CEDARA SOFTWARE AND THE SOLUTION ARE ADVISORY DEVICES AND NOT DESIGNED TO SUBSTITUTE
FOR THE PRIMARY DEFENCES AGAINST DEATH OR INJURY DURING SURGICAL, MEDICAL LIFE SUPPORT OR OTHER POTENTIALLY HAZARDOUS APPLICATIONS WHICH SHALL CONTINUE TO BE 

 

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THE SKILL, KNOWLEDGE AND EXPERIENCE OF THE USERS OF THE CEDARA SOFTWARE AND SOLUTION. 
  

	10.2	   Notice to End-Users 

SURGI-VISION AGREES THAT IT SHALL NOT USE, MARKET, DISTRIBUTE OR RESELL THE CEDARA SOFTWARE OR SOLUTION AS A SUBSTITUTE
FOR THE DEFENCES IDENTIFIED ABOVE IN THIS SECTION 10 OR WITH UNAPPROVED DICOM CONNECTIONS. SURGI-VISION SHALL PROVIDE END USERS WITH A PROMINENT NOTICE, IN THEIR LOCAL LANGUAGE, TO THAT EFFECT. 

 

	10.3	   Legal Risk Management 

EACH OF THE PARTIES AGREES THAT THE LIMITATIONS OF LIABILITY SET OUT IN THIS SECTION ARE FAIR AND REASONABLE IN THE
COMMERCIAL CIRCUMSTANCES OF THIS AGREEMENT AND THAT IT WOULD NOT HAVE ENTERED INTO THIS AGREEMENT BUT FOR THE OTHER PARTY’S AGREEMENT TO LIMIT ITS LIABILITY IN THE MANNER, AND TO THE EXTENT, PROVIDED FOR HEREIN. SAVE AND EXCEPT FOR CLAIMS
ARISING FROM BREACH OF RESTRICTIONS ON USE AND DISTRIBUTION OF THE CEDARA SOFTWARE, BREACH OF THE PAYMENT OBLIGATIONS, BREACH OF THE CONFIDENTIALITY OBLIGATIONS OR CLAIMS FOR WHICH AN INDEMNITY HAS BEEN PROVIDED UNDER THIS AGREEMENT, GROSS
NEGLIGENCE, FRAUD, OR WILLFUL OR INTENTIONAL MISCONDUCT, THE PARTIES AGREE THAT EACH OF THE PARTIES’ AND THEIR RESPECTIVE SUPPLIERS’ LIABILITY TO THE OTHER FOR ANY AND ALL DIRECT, COMPENSATORY LOSS OR DAMAGES, UNDER ANY THEORY OF LAW OR
EQUITY, WHETHER FOR BREACH OF CONTRACT, TORT OR OTHERWISE, ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT OR THE INTENDED FULFILLMENT OF ANY OF ITS OBLIGATIONS UNDER THIS AGREEMENT, SHALL BE STRICTLY LIMITED IN THE AGGREGATE TO $1,000,000.
IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY LOSS OR INJURIES TO EARNINGS, PROFITS OR GOODWILL, OR FOR ANY INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY PERSON OR ENTITY WHETHER ARISING IN CONTRACT, TORT OR
OTHERWISE, EVEN IF EITHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS SECTION SHALL APPLY EVEN IN THE EVENT OF A BREACH OF CONDITION, A BREACH OF AN ESSENTIAL OR FUNDAMENTAL TERM. OR AN ESSENTIAL OR FUNDAMENTAL BREACH OF THIS
AGREEMENT. 
  

	10.4	   Exclusion 

THE OBLIGATIONS OF CEDARA EXPRESSLY STATED IN THIS AGREEMENT ARE IN LIEU OF ALL OTHER WARRANTIES OR CONDITIONS EXPRESS
OR IMPLIED. WITHOUT LIMITATION, TO THE FULLEST EXTENT ALLOWABLE BY LAW, THIS EXCLUSION OF ALL OTHER WARRANTIES AND CONDITIONS EXTENDS TO IMPLIED WARRANTIES OR CONDITIONS OF SATISFACTORY QUALITY, MERCHANTABLE QUALITY AND FITNESS FOR A PARTICULAR
PURPOSE, AND THOSE ARISING BY STATUTE OR OTHERWISE IN LAW, OR FROM A COURSE OF DEALING OR USAGE OF TRADE. CEDARA MAKES NO GUARANTEES REGARDING NON-INFRINGEMENT OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS OR THAT USE OF THE CEDARA SOFTWARE WILL BE
UNINTERRUPTED OR ERROR FREE. 
  

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	11.	   CONFIDENTIALITY 

  

	11.1	   Definition 

In this Section. “Confidential Information” means all information that the disclosing Party designates as
confidential or which ought to be considered as confidential from its nature or from the circumstances surrounding its disclosure, including without limitation all regulatory, commercial, financial, administrative and technological information of
either Party and any information concerning this Agreement, but does not Include information which: 
  

	 	  (a)	 is known to the receiving Party before receipt from the other Party, as substantiated by cogent and reliable evidence; 

 

	 	  (b)	 is disclosed to the receiving Party in good faith by a third party who had a right to make such disclosure; 

 

	 	  (c)	 is made public by the originating Party, or is established to be a part of the public domain otherwise than as a consequence of a breach by the
receiving Party of Its obligations hereunder; or 

  

	 	  (d)	 can be substantiated, based on cogent and reliable evidence, to have been independently developed by the receiving Party.

  

	11.2	   Limited Use 

All Confidential Information of each Party shall be used by the other Party strictly and only for the purposes in this
Agreement. 
  

	11.3	   Reasonable Care 

Each Party shall hold all Confidential Information of the other Party in confidence strictly for. and on behalf of the
other Party and treat the Confidential Information of the other Party as it does its own valuable and sensitive information of a similar nature and, in any event, with not less than a reasonable degree of care. 

 

	11.4	   Obligations of the Parties 

Each Party shall have an obligation to prevent the other Party’s Confidential Information in its possession or
control from being misappropriated, or wrongfully communicated by any employee, consultant or other person under the obliged Party’s control. If the receiving Party is required by a court or government authority to disclose Confidential
Information, the receiving Party shall provide the disclosing Party with prompt notice, including the circumstances of such requirement, so that the disclosing Party may seek an appropriate protective order, and shall reasonably cooperate with the
disclosing Party in an action by the disclosing Party to obtain an appropriate protective order. Upon termination of this Agreement, the Parties shall promptly return or destroy the other Party’s Confidential Information. 

 

 -13- 

	12.	   GENERAL 

  

	12.1	   Governing Law 

The construction, validity and performance of this Agreement shall be governed by the laws of the State of New York
without reference to conflict of laws principles. 
  

	12.2	   Sale of Goods Act 

This Agreement shall not be governed by either the provisions of the International Sale of Goods Act or the United
Nation’s Convention for Contracts on the International Sale of Goods, regardless of that Convention’s legal or statutory adoption by any jurisdiction. 
  

	12.3	   Assignment 

Neither party may assign or otherwise transfer rights or obligations under this Agreement whether in whole or in part,
except with the prior written consent of the other party. Notwithstanding the foregoing, either party may assign this Agreement in its entirety in the event of a merger, change of control, corporate reorganization, or a sale of all or substantially
all of the assets of such party. 
  

	12.4	   Notices 

Any notices provided for under this Agreement shall be deemed received when delivered in person, on the first Business Day
following electronic transmission by facsimile or five (5) days after being mailed by registered mail or reputable courier service: 

To Cedara: 

Cedara Software Corp. 

6509 Airport Road 

Mississauga. Ontario 

L4V 1S7 CANADA 

Fax: (905) 671-7955 

Attention: VP Sales 

To Surgi-Vision: 

Surgi-Vision, Inc. 

1101 East
33rd Street, Suite B307 

Baltimore, Maryland 

21218l USA 

Fax; (901) 579-4979 

Attention: Kimble L. Jenkins 
  

	12.5	   Public Notices 

The Parties agree to issue a press release publicizing this Agreement subject to mutual agreement, to be evidenced in
writing, on appropriate content and timing of said release. Subject to the foregoing, neither Party will use the other Party’s name in any publicity, publication, 

 

 -14- 

 
announcement, marketing or press release or otherwise make use of its association with the other Party or this Agreement, without the other Party’s written consent. 

 

	12.6	   Case Study 

Upon Surgi-Vision’s prior written consent in each Instance, Cedara may devise a case-study of any Custom Engineering
Services Projects, and may use such case-study for marketing of its engineering services to third parties. 
  

	12.7	   Entire Agreement 

This Agreement, including the Schedules listed below and any Statements of Work made hereunder, constitutes the entire
agreement between the Parties pertaining to the subject matter hereof and supersedes all prior agreements and understandings, collateral, oral, or otherwise. No modification of this Agreement shall be binding upon the Parties to this Agreement
unless in writing and executed by an authorized signing officer for each of the Parties. 
 In the event of
conflict or inconsistency between the provisions of this Agreement and any of the Schedules or Statements of Work made hereunder, or any other document incorporated by reference herein, the terms of this Agreement shall prevail, unless in the case
of any Statement of Work, the Parties expressly state that any terms contained therein are to prevail over any inconsistent terms contained in the provisions of this Agreement. 

The Schedules to this Agreement Are: 

Schedule A: Statement of Work No. 1 

Schedule B: Professional Services 
  

	12.8	   Amendments 

Any amendment or modification of any provision of this Agreement must be in writing, dated and signed by a duty authorized
representative of each Party hereto. 
  

	12.9	   Successors and Assigns 

All successors, receivers, managers, trustees and permitted assigns of the Parties shall be bound by the rights and
liabilities set out in this Agreement. 
  

	12.10	   Force Majeure 

Neither Party shall be liable for any failure or delay in its performance under this Agreement due to causes of force
majeure, including without limitation, tires, floods, storms, earthquakes, civil disturbances, or labour matters, provided that Surgi-Vision shall continue to be obligated to pay any fees that have accrued up until the event of force majeure.
If a party is so delayed or prevented from performing its obligations under this Agreement for a period of thirty (30) consecutive days, the other party shall have the immediate right to terminate this Agreement at the end of such thirty
(30) consecutive-day period, without any right of cure on the party so delayed. 
  

 -15- 

	12.11	   Amicable Resolution 

All controversies or claims arising out or relating to this Agreement, or any breath thereof, shall be finally settled
amicably, if possible, by negotiation between the Parties. 
  

	12.12	   No Waiver 

No failure on the part of any Party to this Agreement to exercise, and no delay in exercising any right, power or single
or partial exercise of any right, power or remedy by any Party shall preclude any other or further exercise thereof of the exercise of any other right, power or remedy. 

 

	12.13	   Counterparts and Delivery 

This Agreement may be executed in several counterparts, each of which so executed shall be deemed to be an original, and
such counterparts together shall constitute but one and the same instrument. Delivery of this Agreement by fax shall constitute valid and effective delivery. 
  

	12.14	   Severability 

If any provision of this Agreement is declared invalid or unenforceable by a court of competent jurisdiction, that
provision shall bo deemed to be severed from the Agreement, and the remaining provisions shall not be affected. 
  

	12.15	   Legal Relationship 

The Parties to this Agreement are independent contractors and separate entities. No other legal relationship is intended
or implied. Except as specifically specified in this Agreement, neither Party shall be responsible for acts of the other Party or its agents or employees and neither Party shall assume or create any obligation in the name of or on behalf of the
other Party. 
  

	12.16	   Export Control 

Surgi-Vision agrees to comply with the export laws and regulations of Canada and the United States of America in
exercising the rights granted to it under this Agreement in respect of the Cedara Software. 
  

	12.17	   Survival 

Sections 1, 3, 4, 5, 6.2.2, 6.2.3, 8, 9, 10, 11 and 12 shall survive termination of this Agreement. 

 

 -16- 

 IN WITNESS WHEREOF the Parties hereto have executed this Agreement by their duly
authorized representatives. 
  

			
	 SURGI-VISION INC:
	  	 CEDARA SOFTWARE CORP:

		
	 /s/ Kim Jenkins
	  	 /s/ Antonia Wells

		
	 Signature
	  	 Signature

		
	 KIM JENKINS
	  	 ANTONIA WELLS

		
	 Name
	  	 Name

		
	 Pres / CEO
	  	 U.P. CUSTOMER OPERATIONS

		
	 Title
	  	 Title

		
	 July 20, 2007
	  	 July 20, 2007

		
	 Date
	  	 Date

  

 -17- 

 SCHEDULE A 

STATEMENT OF WORK NO.1 

This Statement of Work is entered into pursuant to and forms part of the Master Services and Licensing Agreement between Cedara Software
Corp. and Surgi-Vision Inc. effective July 20, 2007 (the “Agreement”). Capitalized terms used in this Statement of Work and not otherwise defined herein shall have the meanings assigned to them in the Agreement. In the event of
conflict or inconsistency between the terms of this Statement of Work and the Agreement, the terms of this Statement of Work shall prevail. 

Introduction 
 This
Statement of Work No. 1 describes the objectives and deliverables of the initial development phase (Phase 1) for the Solution. 
 Goals 

 The objective of Phase 1 is to investigate Surgi-Vision’s needs and requirements, and to develop a detailed specification
and project plan for the ensuing project phases pursuant to the following planning guidelines: 
  

	 	1.	 A development phase, including alpha and beta periods, for the first version extending from the end of this Phase 1 to March 31st 2008.

  

	 	2.	 A rapid prototyping phase extending from 1st April 2008 to June 30th 2008 for the purposes of responding to feedback and making follow-on
software releases. 

  

	 	3.	 To investigate and plan using the preliminary list of requirements given below: 

 
 [***] 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant
to a request for confidential treatment. 
 
 Activities

  

	 	•	 	 Consultation. Discuss and consult with Surgi-Vision to understand Surgi-Vision’s business goals; Surgi-Vision’s interventional procedure,
interventional devices and hardware, clinical workflow, imaging integration needs, and end-user needs, Cedara staff may visit Surgi-Vision’s offices or collaborating clinical sites as mutually agreed and as may be helpful to these goals,

  

	 	•	 	 Prototypes. During Phase 1 Cedara staff may develop mock-ups, prototypes, or demonstrators as they determine may best help achieve the goals of the
phase. 

 Deliverables 

The purpose of Phase 1 is to develop a detailed specification and project plan: 

[***] 
 Duration

 Phase 1 is expected to be completed within 2 months of the Effective Date of the Agreement, 

AGREED: 
  

			
	 SURGI-VISION INC:
	  	 CEDARA SOFTWARE CORP;

		
	 /s/ Kim Jenkins
	  	 /s/ Antonia Wells

		
	 Signature
	  	 Signature

		
	 KIM JENKINS
	  	 ANTONIA WELLS

		
	 Name
	  	 Name

		
	 Pres / CEO
	  	 V.P. CUSTOMER OPERATIONS

		
	 Title
	  	 Title

		
	 July 20, 2007
	  	 July 20, 2007

		
	 Date
	  	 Date

 [***]
Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 

 -18- 

 SCHEDULE B 

PROFESSIONAL SERVICES SCOPE AND FEE SCHEDULE 
  

									
	 
	Professional Services

	 				 
	Consulting	 	Presales	 	Implementation	 	Connectivity &
integration	 	Training
	
Technical

- Site Survey

  Assessment

- Develop

  Architecture Design

- Reengineering

  Technical Workflow

- Cost/benefits

  analysis
	 	 Sales

- Demo
 - Sales support

- Reference Site Setup
 - Demo Licenses

	 	 Project Management

- Implementation Plan
 - Training
Plan
 - Acceptance Criteria
	 	 Connectivity

- Scanner DICOM V &

  V
 - Printer V &V

- Acceptance Plan &
   Testing

 - Networking
 - Node setup
&
   configuration
	 	 Techincal

- Installation &

Continuation

- Troubleshooting

	
Clinical

- Needs Analysis

- Reengineering

  Clinical Workflow

- HIPPA requirements

- Cost/benefits

  analysis
	 	 	 	 Installation & Configuration

- On site Technical

- On site Applications

- Pre-staging site
	 	 Integration

- HIS/RIS - PAC’s

  interface
 - 3rd Party
Application
   Integration

- System Engineering
   Services

	 	 Application

- Instruction &

Configuration
 - Viewing
Protocols
 Advanced 2D
 Functionality

 - Clinical Packages 3D

Ortho

	 	 	 	 	 Scalability

- Product upgrades
 - System upgrades

 - Hardware upgrades
	 	 	 	 Sales

- Applications
 - Production

Positioning
 Refresher Web

- Technical updates &

upgrades
 - Application updates

& upgrades
 -Sale
updates

	  

Pricing

- [***] per day

- Travel days included as part of daily rate

 
 Default Hourly Rates -9x5
EST
 - [***] per hour

 
 Default overtime Rates

- [***] per hour

- 5:00 PM to 8:00 AM; Weekends & Holidays
	 	  

Pricing
 [***] per day

Travel days included in
 day rate

 Capacity/Facility

Max 6 person(s) attend

once
 Cedara’s Training

facility
  

See notice for more

information

	
Notice:
  

- A Cancellation Surcharge of [***] will be applied to any support request cancelled without (7) Business Days notice. In
addition any un-recoverable expenses arising due to the cancellation will be the responsibility of Surgi-Vision.
  

- Travel, accommodation & extraordinary expenses are the responsibility of Surgi-Vision unless otherwise agreed to by
Cedara.

 [***] Indicates portions of this exhibit that have been
omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 
  

 -19- 

 SCHEDULE C 

STATEMENT OF WORK NO. 2 

2009-02573 
 SOW
for CED solution for SurgiVision 

MERGE
TM
 
 Healthcare 

STATEMENT OF WORK NO.2 

This Statement of Work No.2 is entered into pursuant to and forms part of the Master Services and Licensing Agreement between Cedara Software Corp. d/b/a
Merge OEM and Surgi-Vision Inc. effective July 20, 2007 (the “Agreement”). Capitalized terms used in this Statement of Work and not otherwise defined herein shall have the meanings assigned to them in the Agreement. In the event of
conflict or inconsistency between the terms of this Statement of Work and the Agreement, the terms of this Statement of Work shall prevail. 

1 Project Scope 
 1.1
Background and Requirements 
 Merge has recently built an MRi based deep brain navigation package for
SurgiVision that is marketed under the ClearPoint trade mark. The ClearPoint solution is used for planning and placement of electrodes into deep brain structures. 

In an effort to expand the offerings in this sector, SurgiVision is exploring new areas of deep brain surgical navigation, drug delivery
applications in particular. This statement of work presents the details associated with the development activities needed to deliver such a solution. 

[***] 
 This
document is prepared to outline the scope of work, deliverables and schedules for the development work needed to create a tool that could aid in the navigation and tracking component associated with this procedure. 

1.2 Solution and Scope of Work 

The solution is expected to contain multiple phases: 
  

	 	•	 	 Prototype phase –[***] 

  

	 	•	 	 Enhanced phase – [***] 

  

	 	•	 	 Wide market solution – [***] 

  

	 	•	 	 Improvements – [***] 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant
to a request for confidential treatment. 
 
 [***]

 1.3 Implementation model 

The solution will be licensed using a node locked licensing model similar to the current ClearPoint solution where installations will
require a MAC address specific license file that can be generated on demand. 
 The solution presented in this SOW is scoped out
to be developed using a team of: 
  

	 	i.	 One full time Merge OEM engineer, 

  

	 	ii.	 One part time Merge OEM segmentation expert - on demand, 

 

	 	iii.	 One full time architect, 

  

	 	iv.	 One full time test resource for the test and validation phase 

 

	 	v.	 10% part time project manager. 

  

	 	vi.	 5% part time system administrator responsible for release activities 

The solution includes complete development, documentation and engineering validation activities. Product validation activities (Alpha and
Beta) are not included in this scope because of the unknowns associated with the timing and potential regulatory requirements associated with the market launch of this product. 

2 Deliverables 
  

			
	Deliverable	  	Description

 [***] 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant
to a request for confidential treatment. 
 
 3 Assumptions

 [***] 
 4
Delivery schedule 
 4.1 Delivery Schedule for Prototype Solution 

Project Duration: [***] 

Delivery Schedule: 
  

			
	Timeline	  	Deliverable

 [***] 

4.2 Delivery Schedule for additional solutions 

Project Duration: [***] 

Delivery Schedule: 
  

			
	Timeline	  	Deliverable

 [***] 

[***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant
to a request for confidential treatment. 
 
 5 Summary

 5.1 Standard Solution: 
  

	 	•	 	 estimated effort: [***] 

  

	 	•	 	 estimated project duration: [***] 

5.2 Additional Solutions: 
  

	 	•	 	 estimated additional effort: [***] 

  

	 	•	 	 estimated project duration: [***] 

Note: 

The estimate is based on correctness of the assumptions made above, if these are not correct, the price and/or delivery
dates might be affected 
 6 Fees and Pricing Summary 

6.1 Consulting Engineering Fees 

The project is proposed to be executed on a time and materials basis at [***] to be invoiced on a monthly basis. 

6.2 Payment Schedule 

Monthly billing of the actual time spent on the project. 

6.3 Run-Time License fees 

Quotes for run-time licenses associated with the resulting application will need to be negotiated before the product will be market
launched. 
 6.4 Professional Services 

Additional services required by SurgiVision for installation, training and onsite technical support shall be provided in accordance with
the Agreement at a rate of [***] not including travel and accommodation. Professional Services will be billed within the same calendar quarter as they are provided. 

AGREED: 
  

					
	 SURGI-VISION INC.:
	 		 	 CEDARA SOFTWARE CORP. D/B/A

MERGE OEM:

			
	
                  /s/ Peter
Piferi
	 		 	
                  /s/ Justin
Dearborn

	 Signature
	 		 	 Signature

			
	
                  Peter Piferi

	 		 	
                  Justin
Dearborn

	 Name
	 		 	 Name

			
	
                  
COO
	 		 	
                 
 CEO

	 Title
	 		 	 Title

			
	
                  
11-13-09
	 		 	
                 
 11-16-09

	 Date
	 		 	 Date

 [***] Indicates
portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 

 -20-Exclusive License Agreement

 Exhibit 10.21 

LICENSE AGREEMENT 

THIS LICENSE AGREEMENT (the “Agreement”) is entered into by and between THE JOHNS HOPKINS UNIVERSITY, a
Maryland corporation having an address at 3400 N. Charles Street, Baltimore, Maryland, 21218-2695 (“JHU”) and Surgi-Vision, Inc., a Delaware corporation having an address at One Commerce Square, Suite 2550, Memphis, Tennessee 38103
(“Company”), with respect to the following: 
 RECITALS 

WHEREAS, as a center for research and education, JHU is interested in licensing PATENT RIGHTS (hereinafter defined) in a
manner that will benefit the public by facilitating the distribution of useful products and the utilization of new processes, but is without capacity to commercially develop, manufacture, and distribute any such products or processes; and

 WHEREAS, a valuable invention entitled [***] was developed during the course of research conducted by [***]
(all hereinafter, “Inventors”); and 
 WHEREAS, JHU has acquired through assignment all rights, title
and interest, with the exception of certain retained rights by the United States Government, in its interest in said valuable inventions; and 

WHEREAS, Company desires to obtain certain rights in such inventions as herein provided, and to commercially develop,
manufacture, use and distribute products and processes based upon or embodying said valuable inventions throughout the world; 

NOW THEREFORE, in consideration of the premises and the mutual promises and covenants contained in this Agreement, and
for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

ARTICLE 1 

DEFINITIONS 

All references to particular Exhibits, Articles or Paragraphs shall mean the Exhibits to, and Paragraphs and Articles of,
this Agreement, unless otherwise specified. For the purposes of this Agreement and the Exhibits hereto, the following words and phrases shall have the following meanings: 

1.1        “AFFILIATED COMPANY” as used herein in either
singular or plural shall mean any corporation, company, partnership, joint venture or other entity, which controls, is controlled by or is under common control with Company. For purposes of this Paragraph 1.1, control shall mean the direct or
indirect ownership of at least fifty- percent (50%). 
 1.2        
“EFFECTIVE DATE” of this License Agreement shall mean the date the last party hereto has executed this Agreement. 

1.3         “EXCLUSIVE LICENSE” shall mean a grant by JHU to
Company of its entire right and interest in the PATENT RIGHTS subject to rights retained by the United States Government, if any, in accordance with the Bayh-Dole Act of 1980 (established by P.L. 96-517 and amended by P.L. 98-620, codified at 35 USC
§ 200 et. seq. and implemented according to 37 CFR Part 401), and subject to the retained right of JHU to make, have made, provide and use for its and The Johns Hopkins Health Systems’ non-commercial purposes LICENSED PRODUCT(S) and
LICENSED SERVICE(S), including the ability to distribute any biological material disclosed and/or claimed in PATENT RIGHTS for nonprofit academic research use to non-commercial entities as is customary in the scientific community. 

1.4         “LICENSED FIELD” shall mean all fields. 

 

 [***] Indicates portions of this exhibit that have been omitted and filed separately
with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 1.5         “LICENSED
PRODUCT(S)” as used herein in either singular or plural shall mean any process or method, material, compositions, drug, or other product, the manufacture, use or sale of which would constitute, but for the license granted to Company
pursuant to this Agreement, an infringement of a claim of PATENT RIGHTS (infringement shall include, but is not limited to, direct, contributory, or inducement to infringe). 

1.6         “LICENSED SERVICE(S)” as used herein in either
singular or plural shall mean the performance on behalf of a third party of any method or the manufacture of any product or the use of any product or composition which would constitute, but for the license granted to Company pursuant to this
Agreement, an infringement of a claim of the PATENT RIGHTS, (infringement shall include, but not be limited to, direct, contributory or inducement to infringe). 

1.7        “NET SALES” shall mean gross sales revenues and fees
billed by Company or any AFFILIATED COMPANY from the sale of LICENSED PRODUCT(S) less trade discounts allowed, refunds, returns and recalls, freight and delivery costs, sales, use and other similar taxes, and rebates accrued, incurred or paid to
federal or state agencies (such as Medicare or Medicaid) or other payors. In the event that Company or any AFFILIATED COMPANY sells a LICENSED PRODUCT(S) in combination with other ingredients or substances or as part of a kit, the NET SALES for
purposes of royalty payments shall be based on that portion of the sales revenue and fees derived from that component of the combination or kit which could independently be sold as a LICENSED PRODUCT. 

1.8        “NET SERVICE REVENUES” shall mean gross service
revenues and fees billed by Company or any AFFILIATED COMPANY for the performance of LICENSED SERVICE(S) less sales, use or other similar taxes imposed upon and with specific reference to the LICENSED SERVICE(S), but only where LICENSED SERVICES are
sold or used separately from the manufacture or sale of a LICENSED PRODUCT. In the event that Company or any AFFILIATED COMPANY sells a LICENSED SERVICE(S) in combination with other services or substances or as part of a kit that does not include a
LICENSED PRODUCT, the NET SERVICE REVENUES for purposes of royalty payments shall be based on that portion of the sales revenues and fees derived from that component of the combination or kit which could independently be sold as a LICENSED SERVICE.

 1.9        “PATENT RIGHTS” shall mean the U.S.
patent application Serial No. [***] filed on[***], and assigned to JHU entitled [***] and the invention disclosed and claimed therein, and all continuations, divisions, and reissues based thereof, and any corresponding foreign patent applications,
and any patents, or other equivalent foreign PATENT RIGHTS issuing, granted or registered thereon. 

1.10        “SUBLICENSEE(S)” as used herein in either singular
or plural shall mean any person or entity other than an AFFILIATED COMPANY to which Company has granted a sublicense under this Agreement. 

ARTICLE 2 

LICENSE GRANT 

2.1        Grant. Subject to the terms and conditions of this Agreement,
JHU hereby grants to Company an EXCLUSIVE LICENSE to make, have made, use, import, offer for sale and sell the LICENSED PRODUCT(S) and to provide the LICENSED SERVICE(S) in the United States and worldwide under the PATENT RIGHTS in the LICENSED
FIELD. This Grant shall apply to the Company and any AFFILIATED COMPANY, except that any AFFILIATED COMPANY shall not have the right to sublicense others without the prior written approval of JHU as set forth in Paragraph 2.2 below. If any
AFFILIATED COMPANY exercises rights under this Agreement, such AFFILIATED COMPANY shall be bound by all terms and conditions of this Agreement, including but not limited to indemnity and insurance provisions and royalty payments, which shall apply
to the exercise of the rights, to the same extent as would apply had this Agreement been directly between JHU and the AFFILIATED COMPANY. In addition, Company shall remain fully liable to JHU for all acts and obligations of AFFILIATED COMPANY such
that acts of the AFFILIATED COMPANY shall be considered acts of the Company. 
 [***] Indicates portions of this exhibit that
have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 2.2        Sublicense.
Company may sublicense to others under this Agreement, subject to the terms and conditions of this Paragraph 2.2 and subject to JHU’s prior written approval of the sublicense agreement. Such approval shall not be unreasonably withheld. As a
condition to its validity and enforceability, each sublicense agreement shall: (a) incorporate by reference the terms and conditions of this Agreement, (b) be consistent with the terms, conditions and limitations of this Agreement,
(c) prohibit SUBLICENSEE’s further sublicense of the rights delivered hereunder without JHU’s prior written approval, (d) name JHU as an intended third party beneficiary of the obligations of SUBLICENSEE without imposition of
obligation or liability on the part of JHU or its Inventors to the SUBLICENSEE, (e) specifically incorporate Paragraphs 6.2 “Representations by JHU”, 7.1 “Indemnification”, 10.1 “Use of Name”, 10.4 “Product
Liability” into the body of the sublicense agreement, and cause the terms used in therein to have the same meaning as in this Agreement, and, (f) bear signature from JHU indicating JHU’s review and approval of the sublicense
agreement. Company shall provide to JHU each proposed sublicense agreement, executed by both Company and proposed SUBLICENSEE, for review, approval and signature by JHU. To the extent that any terms, conditions or limitations of any sublicense
agreement are inconsistent with this Agreement, those terms, conditions and limitations are null and void against JHU, unless JHU has approved the sublicense in writing. 

2.3        Government Rights. The United States Government may have
acquired a nonexclusive, nontransferable, irrevocable, paid-up license to practice or have practiced for or on behalf of the United States the inventions described in PATENT RIGHTS throughout the world. The rights granted herein are additionally
subject to: (i) the requirement that any LICENSED PRODUCT(S) produced for use or sale within the United States shall be substantially manufactured in the United States (unless a waiver under 35 USC § 204 or equivalent is granted by the
appropriate United States government agency), (ii) the right of the United States government to require JHU, or its licensees, including Company, to grant sublicenses to responsible applicants on reasonable terms when necessary to fulfill
health or safety needs, and, (iii) other rights acquired by the United States government under the laws and regulations applicable to the grant/contract award under which the inventions were made. 

ARTICLE 3 

FEES, ROYALTIES, & PAYMENTS 

3.1        License Fee. Company shall pay to JHU within thirty
(30) days of the EFFECTIVE DATE of this Agreement the initial license fee as set forth in Exhibit A. JHU will not submit an invoice for the license fee, which is nonrefundable and shall not be credited against royalties or other fees.

 3.2        Minimum Annual Royalties. Company shall pay to JHU
minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary.
Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due
on that anniversary date. 
 3.3        Running Royalties.
Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES, based on NET SALES and NET SERVICE REVENUES for the term
of this Agreement. Such payments shall be made quarterly. All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S) sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU.

 In order to insure JHU the full royalty payments contemplated hereunder, Company agrees that in the event any
LICENSED PRODUCT(S) shall be sold to an AFFILIATED COMPANY or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement with respect to consideration (such as, among other
things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) the royalties to be paid hereunder for such LICENSED PRODUCT(S) shall be based upon the greater of: 1)
the net selling price (per NET SALES) at which the purchaser of LICENSED PRODUCT(S) resells such product to the end user, 2) the NET SERVICE REVENUES received from using the LICENSED PRODUCT(S) in providing a service, or 3) the net selling price
(per NET SALES) of LICENSED PRODUCT(S) paid by the purchaser. 

 No multiple royalties shall be due or payable because any LICENSED
PRODUCT(S) or LICENSED SERVICE(S) is covered by more than one claim of the PATENT RIGHTS or by claims of both the PATENT RIGHTS under this Agreement and “PATENT RIGHTS” under any other license agreement between Company and JHU. The royalty
shall not be cumulative based on the number of patents or claims covering a product or service, but rather shall be capped at the rate set forth in Exhibit A. 

3.4        Sublicense Consideration. Company shall pay to JHU a percentage
of consideration received for sublicenses under this Agreement as set forth in Exhibit A. This sublicense consideration shall be due, without the need for invoice from JHU, within forty-five (45) days of Company’s receipt. Such
consideration shall mean consideration of any kind received by the Company or AFFILIATED COMPANIES from a SUBLICENSEE(S) for the grant of a sublicense under this Agreement, such as upfront fees or milestone fees, running royalties and including any
premium paid by the SUBLICENSEE(S) over Fair Market Value for stock of the Company or an AFFILIATED COMPANY in consideration for such sublicense. However, not included in such sublicense consideration are amounts paid to the Company or an AFFILIATED
COMPANY by the SUBLICENSEE(S) for product development, research work, clinical studies and regulatory approvals performed by or for the Company or AFFILIATED COMPANIES (including third parties on their behalf), each pursuant to a specific agreement
including a performance plan and commensurate budget. The term “Fair Market Value” shall mean the average price that the stock in question is publicly trading at for twenty (20) days prior to the announcement of its purchase by the
SUBLICENSEE(S) or if the stock is not publicly traded, the greater of (a) the value of such stock as determined by the most recent private financing through a financial investor (an entity whose sole interest in the Company or AFFILIATED
COMPANY is financial) of the Company or AFFILIATED COMPANY that issued the shares, or (b) the value of such stock as determined by the most recent appraisal conducted by an independent appraiser regularly engaged in the business of valuing
businesses of the nature of Company or AFFILIATED COMPANY, as applicable. 
 In the event of a sublicense under
both this Agreement and any other license agreement between Company and JHU, the sublicensing consideration payable to JHU under this Agreement and such other license agreement(s) shall be capped such that the aggregate amount payable to JHU shall
not exceed the percentage set forth in Exhibit A of all sublicensing consideration. 

3.5        Patent Reimbursement. Company will reimburse JHU, within thirty
(30) days of the receipt of an invoice from JHU, for all costs associated with the preparation, filing, maintenance, and prosecution of PATENT RIGHTS incurred by JHU on or before the EFFECTIVE DATE of this Agreement, which costs will not
exceed[***]. In accordance with Paragraph 4.1 below, Company will reimburse JHU, within thirty (30) days of the receipt of an invoice from JHU, for all costs associated with the preparation, filing, maintenance, and prosecution of PATENT RIGHTS
incurred by JHU subsequent to the EFFECTIVE DATE of this Agreement. 

3.6        Form of Payment. All payments under this Agreement shall be
made in U.S. Dollars by either check or wire transfer. 

3.7        Payment Information. All check payments from Company to JHU
shall be sent to: 
     Director 

    Johns Hopkins Technology Transfer 

    The Johns Hopkins University 

    100 N. Charles Street, 5th Floor 

    Baltimore, MD 21201 

    Attn: JHU Agrmt# A13611 

or such other addresses which JHU may designate in writing from time to time. Checks are to be made payable to “The
Johns Hopkins University”. Wire transfers may be made through: 
 [***] 

 

 [***] Indicates portions of this exhibit that have been omitted and filed separately
with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 Company shall be responsible for any and all costs associated with wire
transfers. 
 3.7        Late Payments. In the event that any
payment due hereunder is not made when due, the payment shall accrue interest beginning on the tenth day following the due date thereof, calculated at the annual rate of the sum of (a) two percent (2%) plus (b) the prime interest rate
quoted by The Wall Street Journal on the date said payment is due, the interest being compounded on the last day of each calendar quarter, provided however, that in no event shall said annual interest rate exceed the maximum legal interest rate for
corporations. Each such payment when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not negate or waive the right of JHU to seek any other remedy, legal or equitable, to which it may
be entitled because of the delinquency of any payment including, but not limited to termination of this Agreement as set forth in Paragraph 9.2. 

ARTICLE 4 

PATENT PROSECUTION, MAINTENANCE, & INFRINGEMENT 

4.1        Prosecution & Maintenance. JHU, at Company’s
expense, shall file, prosecute and maintain all patents and patent applications specified under PATENT RIGHTS and, subject to the terms and conditions of this Agreement, Company shall be licensed thereunder. Title to all such patents and patent
applications shall reside in JHU. JHU shall have full and complete control over all patent matters in connection therewith under the PATENT RIGHTS, provided however, that JHU shall (a) cause its patent counsel to timely copy Company on all
official actions and written correspondence with any patent office and timely provide Company advance notification of any filing deadline, and (b) allow Company an opportunity to comment and advise JHU. JHU shall consider and reasonably
incorporate all comments and advice from Company and JHU shall comply with foreign filing decisions provided by Company. Upon request by Company, JHU shall consider allowing Company’s patent counsel to prosecute patent applications relating to
the PATENT RIGHTS. By concurrent written notification to JHU and its patent counsel at least thirty (30) days in advance (or later at JHU’s discretion) of any filing or response deadline, or fee due date, Company may elect not to have a
patent application filed in any particular country or region or not to pay expenses associated with prosecuting or maintaining any patent application or patent, provided that Company pays for all costs incurred up to JHU’s receipt of such
notification. Failure to provide such notification can be considered by JHU to be Company’s authorization to proceed at Company’s expense. Upon such notification, JHU may file, prosecute, and/or maintain such patent applications or patent
at its own expense and for its own benefit, and any rights or license granted hereunder held by Company, AFFILIATED COMPANIES or SUBLICENSEE(S) relating to the PATENT RIGHTS which comprise the subject of such patent applications or patent solely
with respect to the particular country or region, shall terminate. For the avoidance of any doubt, such termination shall not affect any rights or license granted hereunder held by Company, AFFILIATED COMPANIES or SUBLICENSEE(S) relating to the
PATENT RIGHTS which comprise the subject of patent applications or patents in any other country or region. 

4.2        Notification. Each party will notify the other promptly in
writing when any infringement by another is uncovered or suspected. 

 4.3        Infringement.
Company shall have the first right to enforce any patent within PATENT RIGHTS against any infringement or alleged infringement thereof, and shall at all times keep JHU informed as to the status thereof. Before Company commences an action with
respect to any infringement of such patents, Company shall give careful consideration to the views of JHU and to potential effects on the public interest in making its decision whether or not to sue. Thereafter, Company may, at its own expense,
institute suit against any such infringer or alleged infringer and control and defend such suit in a manner consistent with the terms and provisions hereof and recover any damages, awards or settlements resulting therefrom, subject to Paragraph 4.5.
However, no settlement, consent judgment or other voluntary final disposition of the suit may be entered into without the prior written consent of JHU which consent shall not be unreasonably withheld. This right to sue for infringement shall not be
used in an arbitrary or capricious manner. JHU shall reasonably cooperate in any such litigation at Company’s expense. 

If Company elects not to enforce any patent within the PATENT RIGHTS, then it shall so notify JHU in writing within ninety (90) days
of receiving notice that an infringement exists, and JHU may, in its sole judgment and at its own expense, take steps to enforce any patent and control, settle, and defend such suit in a manner consistent with the terms and provisions hereof, and
recover, for its own account, any damages, awards or settlements resulting therefrom. 

4.4        Patent Invalidity Suit. If a declaratory judgment action is
brought naming Company as a defendant and alleging invalidity of any of the PATENT RIGHTS, JHU may elect to take over the sole defense of the action at its own expense. Company shall cooperate fully with JHU in connection with any such action.

 4.5        Recovery. Any recovery by Company under Paragraph
4.3 shall be deemed to reflect loss of commercial sales, and Company shall pay to JHU [***] of the recovery net of all reasonable costs and expenses associated with each suit or settlement. If the cost and expenses exceed the recovery, then [***] of
the excess shall be credited against royalties payable by Company to JHU hereunder in connection with sales of LICENSED PRODUCT covered in the PATENT RIGHTS which are the subject of the infringement suit, in the country of such legal proceedings,
provided, however, that any such credit under this Paragraph shall not exceed [***] of the royalties otherwise payable to JHU with regard to sales in the country of such action in any one calendar year, with any excess credit being carried forward
to future calendar years. 
 ARTICLE 5 

OBLIGATIONS OF THE PARTIES 

5.1        Reports. Company shall provide to JHU the following written reports according
to the following schedules. 
      (a) Company shall provide quarterly Royalty
Reports, substantially in the format of Exhibit B and due within thirty (30) days of the end of each calendar quarter following the EFFECTIVE DATE of this Agreement. Royalty Reports shall disclose the amount of LICENSED PRODUCT(S) and
LICENSED SERVICE(S) sold, the total NET SALES and NET SERVICE REVENUES of such LICENSED PRODUCT(S) and LICENSED SERVICE(S), and the running royalties due to JHU as a result of NET SALES and NET SERVICE REVENUES by Company, AFFILIATED COMPANIES and
SUBLICENSEE(S) thereof. Payment of any such royalties due shall accompany such Royalty Reports. 

     (b) Until Company, an AFFILIATED COMPANY or a SUBLICENSEE(S) has achieved a first
commercial sale of a LICENSED PRODUCT or LICENSED SERVICE, or received FDA market approval, Company shall provide semiannual Diligence Reports, due within thirty (30) days of the end of every June and December following the EFFECTIVE DATE of
this Agreement. These Diligence Reports shall describe Company’s, AFFILIATED COMPANIES or any SUBLICENSEE(S)’s technical efforts towards meeting its obligations under the terms of this Agreement. 

     (c) Company shall provide Annual Reports within thirty (30) days of the end of every
December following the EFFECTIVE DATE of this Agreement. Annual Reports shall include: 
 (i) evidence of
insurance as required under Paragraph 10.4, or, a statement of why such insurance is not currently required, and 

(ii) identification of all AFFILIATED COMPANIES which have exercised rights pursuant to Paragraph 2.1, or, a statement
that no AFFILIATED COMPANY has exercised such rights, and 
  

 [***] Indicates portions of this exhibit that have been omitted and filed separately
with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 (iii) notice of all FDA approvals of any LICENSED PRODUCT(S) or LICENSED
SERVICE(S) obtained by COMPANY, AFFILIATED COMPANY or SUBLICENSEE, the patent(s) or patent application(s) licensed under this Agreement upon which such product or service is based, and the commercial name of such product or service, or, in the
alternative, a statement that no FDA approvals have been obtained. 

5.2        Records. Company shall make and retain, for a period of three
(3) years following the period of each report required by Paragraph 5.1, true and accurate records, files and books of account containing all the data reasonably required for the full computation and verification of sales and other information
required in Paragraph 5.1. Such books and records shall be in accordance with generally accepted accounting principles consistently applied. Company shall permit the inspection and copying of such records, files and books of account by JHU or its
agents during regular business hours upon ten (10) business days’ written notice to Company. Such inspection shall not be made more than once each calendar year. All costs of such inspection and copying shall be paid by JHU, provided that
if any such inspection shall reveal that an error has been made in the amount equal to five percent (5%) or more of such payment, such costs shall be borne by Company. As a condition to entering into any such agreement, Company shall include in
any agreement with its AFFILIATED COMPANIES or its SUBLICENSEE(S) which permits such party to make, use, sell or import the LICENSED PRODUCT(S) or provide LICENSED SERVICE(S), a provision requiring such party to retain records of sales of LICENSED
PRODUCT(S) and records of LICENSED SERVICE(S) and other information as required in Paragraph 5.1 and permit JHU to inspect such records as required by this Paragraph. 

5.3        Reasonable Efforts. Company shall exercise commercially
reasonable efforts to develop and to introduce the LICENSED PRODUCT(S) and LICENSED SERVICE(S) into the commercial market as soon as practicable, consistent with sound and reasonable business practice and judgement; thereafter, until the expiration
or termination of this Agreement, Company shall endeavor to keep LICENSED PRODUCT(S) and LICENSED SERVICE(S) reasonably available to the public. 

5.4        Other Products. After clinical or other evidence, provided in
writing [***] to Company, demonstrating the practicality of a particular market or use within the LICENSED FIELD which is not being developed or commercialized by Company, Company shall either provide JHU with a reasonable development plan and start
development or attempt to reasonably sublicense the particular market or use to a third party. If within six (6) months of such notification [***] Company has not initiated such development efforts or sublicensed that particular market or use, JHU
may terminate this license for such particular market or use. This Paragraph shall not be applicable if Company reasonably demonstrates to JHU that commercializing such LICENSED PRODUCT(S) or LICENSED SERVICE(S) or granting such a sublicense in said
market or use would have a potentially adverse commercial effect upon marketing or sales of the LICENSED PRODUCT(S) developed and being sold by Company. 

5.5        Patent Acknowledgement. Company agrees that all packaging
containing individual LICENSED PRODUCT(S) sold by Company, AFFILIATED COMPANIES and SUBLICENSEE(S) of Company will be marked with the number of the applicable patent(s) licensed hereunder in accordance with each country’s patent laws.

 ARTICLE 6 

REPRESENTATIONS 

6.1        Duties of the Parties. JHU is not a commercial organization. It
is an institute of research and education. Therefore, JHU has no ability to evaluate the commercial potential of any PATENT RIGHTS or LICENSED PRODUCT or other license or rights granted in this Agreement. It is therefore incumbent upon Company to
evaluate the rights and products in question, to examine the materials and information provided by JHU, and to determine for itself the validity of any PATENT RIGHTS, its freedom to operate, and the value of any LICENSED PRODUCTS or SERVICES or
other rights granted. 
  

 [***] Indicates portions of this exhibit that have been omitted and filed separately
with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 6.2        Representations by
JHU. JHU warrants that it has good and marketable title to its interest in the inventions claimed under PATENT RIGHTS with the exception of certain retained rights of the United States Government, which may apply if any part of the JHU research
was funded in whole or in part by the United States Government. JHU does not warrant the validity of any patents or that practice under such patents shall be free of infringement. EXCEPT AS EXPRESSLY SET FORTH IN THIS PARAGRAPH 6.2, COMPANY,
AFFILIATED COMPANIES AND SUBLICENSEE(S) AGREE THAT THE PATENT RIGHTS ARE PROVIDED “AS IS”, AND THAT JHU MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE PERFORMANCE OF LICENSED PRODUCT(S) AND LICENSED SERVICE(S) INCLUDING THEIR
SAFETY, EFFECTIVENESS, OR COMMERCIAL VIABILITY. JHU DISCLAIMS ALL WARRANTIES WITH REGARD TO PRODUCT(S) AND SERVICE(S) LICENSED UNDER THIS AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES, EXPRESSED OR IMPLIED, OF MERCHANTABILITY AND FITNESS
FOR ANY PARTICULAR PURPOSE. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, JHU ADDITIONALLY DISCLAIMS ALL OBLIGATIONS AND LIABILITIES ON THE PART OF JHU AND INVENTORS, FOR DAMAGES, INCLUDING, BUT NOT LIMITED TO, DIRECT, INDIRECT, SPECIAL,
AND CONSEQUENTIAL DAMAGES, ATTORNEYS’ AND EXPERTS’ FEES, AND COURT COSTS (EVEN IF JHU HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, FEES OR COSTS), ARISING OUT OF OR IN CONNECTION WITH THE MANUFACTURE, USE, OR SALE OF THE PRODUCT(S)
AND SERVICE(S) LICENSED UNDER THIS AGREEMENT. COMPANY, AFFILIATED COMPANIES AND SUBLICENSEE(S) ASSUME ALL RESPONSIBILITY AND LIABILITY FOR LOSS OR DAMAGE CAUSED BY A PRODUCT AND/OR SERVICE MANUFACTURED, USED, OR SOLD BY COMPANY, ITS SUBLICENSEE(S)
AND AFFILIATED COMPANIES WHICH IS A LICENSED PRODUCT(S) OR LICENSED SERVICE(S) AS DEFINED IN THIS AGREEMENT. 
 ARTICLE 7 

 INDEMNIFICATION 

7.1        Indemnification. JHU and the Inventors will have no legal
liability exposure to third parties if JHU does not license the LICENSED PRODUCT(S) and LICENSED SERVICE(S), and any royalties JHU and the Inventors may receive is not adequate compensation for such legal liability exposure. Therefore, JHU requires
Company to protect JHU and Inventors from such exposure to the same manner and extent to which insurance, if available, would protect JHU and Inventors. Furthermore, JHU and the Inventors will not, under the provisions of this Agreement or
otherwise, have control over the manner in which Company or its AFFILIATED COMPANIES or its SUBLICENSEE(S) or those operating for its account or third parties who purchase LICENSED PRODUCT(S) or LICENSED SERVICE(S) from any of the foregoing
entities, develop, manufacture, market or practice the inventions of LICENSED PRODUCT(S) and LICENSED SERVICE(S). Therefore, Company, AFFILIATED COMPANY and SUBLICENSEE shall indemnify, defend with counsel reasonably acceptable to JHU, and hold JHU,
The Johns Hopkins Health Systems, their present and former trustees, officers, Inventors of PATENT RIGHTS, agents, faculty, employees and students harmless as against any judgments, fees, expenses, or other costs arising from or incidental to any
product liability or other lawsuit, claim, demand or other action brought as a consequence of the practice of said inventions by any of the foregoing entities, whether or not JHU or said Inventors, either jointly or severally, is named as a party
defendant in any such lawsuit and whether or not JHU or the Inventors are alleged to be negligent or otherwise responsible for any injuries to persons or property. Practice of the inventions covered by LICENSED PRODUCT(S) and LICENSED SERVICE(S), by
an AFFILIATED COMPANY or an agent or a SUBLICENSEE(S) or a third party on behalf of or for the account of Company or by a third party who purchases LICENSED PRODUCT(S) and LICENSED SERVICE(S) from Company, shall be considered Company’s practice
of said inventions for purposes of this Paragraph. The obligation of Company to defend and indemnify as set out in this Paragraph shall survive the termination of this Agreement, shall continue even after assignment of rights and responsibilities to
an affiliate or sublicensee, and shall not be limited by any other limitation of liability elsewhere in this Agreement. 

ARTICLE 8 

CONFIDENTIALITY 

8.1        Confidentiality. If necessary, the parties will exchange
information, which they consider to be confidential. The recipient of such information agrees to accept the disclosure of said information which is marked as confidential at the time it is sent to the recipient, and to employ all reasonable efforts
to maintain the information secret and confidential, such 

 
efforts to be no less than the degree of care employed by the recipient to preserve and safeguard its own confidential information. The Information shall not be disclosed or revealed to anyone
except employees of the recipient who have a need to know the information and who have entered into a secrecy agreement with the recipient under which such employees are required to maintain confidential the proprietary information of the recipient
and such employees shall be advised by the recipient of the confidential nature of the information and that the information shall be treated accordingly. 

The obligations of this Paragraph 8.1 shall also apply to AFFILIATED COMPANIES and/or SUBLICENSEE(S) provided such
information by Company. JHU’s, Company’s, AFFILIATED COMPANIES, and SUBLICENSEES’ obligations under this Paragraph 8.1 shall extend until three (3) years after the termination of this Agreement. 

8.2        Exceptions. The recipient’s obligations under Paragraph
8.1 shall not extend to any part of the information: 
  

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

  

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

  

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

  

	 	d.	 that is demonstrated from written records to have been developed by or for the receiving party without reference to confidential information
disclosed by the disclosing party. 

  

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

8.3        Right to Publish. JHU may publish manuscripts, abstracts or the
like describing the PATENT RIGHTS and inventions contained therein provided confidential information of Company as defined in Paragraph 8.1, is not included or without first obtaining approval from Company to include such confidential information.
Otherwise, JHU and the Inventors shall be free to publish manuscripts and abstracts or the like directed to the work done at JHU related to the licensed technology without prior approval. 

ARTICLE 9 

TERM & TERMINATION 

9.1        Term. The term of this Agreement shall commence on the
EFFECTIVE DATE and shall continue, in each country, until the date of expiration of the last to expire patent included within PATENT RIGHTS in that country or if no patents issue then for a term of twenty (20) years from the EFFECTIVE DATE of
this Agreement. 
 9.2        Termination By Either Party. This
Agreement may be terminated by either party, in the event that the other party (a) files or has filed against it a petition under the Bankruptcy Act, makes an assignment for the benefit of creditors, has a receiver appointed for it or a
substantial part of its assets, or otherwise takes advantage of any statute or law designed for relief of debtors or (b) fails to perform or otherwise breaches any of its obligations hereunder, if, following the giving of notice by the
terminating party of its intent to terminate and stating the grounds therefor, the party receiving such notice shall not have cured the failure or breach within thirty (30) days. In no event, however, shall such notice or intention to terminate
be deemed to waive any rights to damages or any other remedy which the party giving notice of breach may have as a consequence of such failure or breach. 

9.3        Termination by Company. Company may terminate this Agreement
and the license granted herein, for any reason, upon giving JHU ninety (90) days written notice. 

9.4        Obligations and Duties upon Termination. If this Agreement is
terminated, both parties shall be released from all obligations and duties imposed or assumed hereunder to the extent so terminated, except as expressly provided to the contrary in this Agreement. Upon termination, both parties shall cease any
further use of the confidential information disclosed to the receiving party by the other party. Termination of this Agreement, for whatever reason, shall not affect the 

 
obligation of either party to make any payments for which it is liable prior to or upon such termination. Termination shall not affect JHU’s right to recover unpaid royalties, fees,
reimbursement for patent expenses, or other forms of financial compensation incurred prior to termination. Upon termination Company shall submit a final royalty report to JHU and any royalty payments, fees, unreimbursed patent expenses and other
financial compensation due JHU shall become immediately payable. Furthermore, upon termination of this Agreement, all rights in and to the licensed technology shall revert immediately to JHU at no cost to JHU. Upon termination of this Agreement, any
SUBLICENSEE(S) shall become a direct licensee of JHU, provided that JHU’s obligations to SUBLICENSEE(S) are no greater than JHU’s obligations to Company under this Agreement. Company shall provide written notice of such to each
SUBLICENSEE(S) with a copy of such notice provided to JHU. 
 ARTICLE 10 

MISCELLANEOUS 

10.1        Use of Name. Company, AFFILIATED COMPANIES and SUBLICENSEE(S)
shall not use the name of The Johns Hopkins University or The Johns Hopkins Health System or any of its constituent parts, such as the Johns Hopkins Hospital or any contraction thereof or the name of Inventors in any advertising, promotional, sales
literature or fundraising documents without prior written consent from an authorized representative of JHU. Company, AFFILIATED COMPANIES and SUBLICENSEE(S) shall allow at least seven (7) business days notice of any proposed public disclosure
for JHU’s review and comment or to provide written consent. 

10.2        No Partnership. Nothing in this Agreement shall be construed
to create any agency, employment, partnership, joint venture or similar relationship between the parties other than that of a licensor/licensee. Neither party shall have any right or authority whatsoever to incur any liability or obligation (express
or implied) or otherwise act in any manner in the name or on the behalf of the other, or to make any promise, warranty or representation binding on the other. 

10.3        Notice of Claim. Each party shall give the other or its
representative immediate notice of any suit or action filed, or prompt notice of any claim made, against them arising out of the performance of this Agreement or arising out of the practice of the inventions licensed hereunder. 

10.4        Product Liability. Prior to initial human testing or first
commercial sale of any LICENSED PRODUCT(S) or LICENSED SERVICE(S) as the case may be in any particular country, Company shall establish and maintain, in each country in which Company, an AFFILIATED COMPANY or SUBLICENSEE(S) shall test or sell
LICENSED PRODUCT(S) and LICENSED SERVICE(S), product liability or other appropriate insurance coverage in the minimum amount of five million dollars ($5,000,000) per claim and will annually present evidence to JHU that such coverage is being
maintained. Upon JHU’s request, Company will furnish JHU with a Certificate of Insurance of each product liability insurance policy obtained. JHU shall be listed as an additional insured in Company’s said insurance policies. If such
Product Liability insurance is underwritten on a ‘claims made’ basis, Company agrees that any change in underwriters during the term of this Agreement will require the purchase of ‘prior acts’ coverage to ensure that coverage
will be continuous throughout the term of this Agreement. 

10.5        Governing Law. This Agreement shall be construed, and legal
relations between the parties hereto shall be determined, in accordance with the laws of the State of Maryland applicable to contracts solely executed and wholly to be performed within the State of Maryland without giving effect to the principles of
conflicts of laws. Any disputes between the parties to the Agreement shall be brought in the state or federal courts of Maryland. Both parties agree to waive their right to a jury trial. 

10.6        Notice. All notices or communication required or permitted to
be given by either party hereunder shall be deemed sufficiently given if mailed by registered mail or certified mail, return receipt requested, or sent by overnight courier, such as Federal Express, to the other party at its respective address set
forth below or to such other address as one party shall give notice of to the other from time to time hereunder. Mailed notices shall be deemed to be received on the third business day following the date of mailing. Notices sent by overnight courier
shall be deemed received the following business day. 

					
	 If to Company:
	 	 Attn:
	    	 Mr. Kim Jenkins

		 		    	 Surgi-Vision, Inc.

		 		    	 One Commerce Square

		 		    	 Suite 2550

		 		    	 Memphis, TN 38103

			
	 with a copy to:
	 	 Attn:
	    	 Oscar Thomas

		 		    	 Surgi-Vision, Inc.

		 		    	 One Commerce Square

		 		    	 Suite 2550

		 		    	 Memphis, TN 38103

			
		 	 and
	    	
			
		 	 Attn:
	    	 Julie H. Richardson

		 		    	 Myers Bigel Sibley & Sajovec, P.A.

		 		    	 4140 Parklake Ave.

		 		    	 Suite 600

		 		    	 Raleigh, NC 27612

		
	 If to JHU:
	 	 Director

		 	 Technology Transfer

		 	 Johns Hopkins University

		 	 100 N. Charles Street

		 	
5th Floor

		 	 Baltimore, MD 21201

		 	 Attn: JHU Agrmt# A13611

10.7        Compliance with All Laws. In all activities undertaken
pursuant to this Agreement, both JHU and Company covenant and agree that each will in all material respects comply with such Federal, state and local laws and statutes, as may be in effect at the time of performance and all valid rules, regulations
and orders thereof regulating such activities. 

10.8        Successors and Assigns. Neither this Agreement nor any of the
rights or obligations created herein, except for the right to receive any remuneration hereunder, may be assigned by either party, in whole or in part, without the prior written consent of the other party, except that either party shall be free to
assign this Agreement in connection with any merger in which it is not the surviving entity or any sale of substantially all of its assets, in either case without the consent of the other. This Agreement shall bind and inure to the benefit of the
successors and permitted assigns of the parties hereto. 

10.9        No Waivers; Severability. No waiver of any breach of this
Agreement shall constitute a waiver of any other breach of the same or other provision of this Agreement, and no waiver shall be effective unless made in writing. Any provision hereof prohibited by or unenforceable under any applicable law of any
jurisdiction shall as to such jurisdiction be deemed ineffective and deleted herefrom without affecting any other provision of this Agreement. It is the desire of the parties hereto that this Agreement be enforced to the maximum extent permitted by
law, and should any provision contained herein be held by any governmental agency or court of competent jurisdiction to be void, illegal and unenforceable, the parties shall negotiate in good faith for a substitute term or provision which carries
out the original intent of the parties. 
 10.10      Entire Agreement;
Amendment. Company and JHU acknowledge that they have read this entire Agreement and that this Agreement, including the attached Exhibits constitutes the entire understanding and contract between the parties hereto and supersedes any and all
prior or contemporaneous oral or written communications with respect to the subject matter hereof, all of which communications are merged herein. It is expressly understood and agreed that (i) there being no expectations to the contrary between
the parties hereto, no usage of trade, verbal agreement or another regular 

 
practice or method dealing within any industry or between the parties hereto shall be used to modify, interpret, supplement or alter in any manner the express terms of this Agreement; and
(ii) this Agreement shall not be modified, amended or in any way altered except by an instrument in writing signed by both of the parties hereto. 

10.11      Delays or Omissions. Except as expressly provided herein, no delay or
omission to exercise any right, power or remedy accruing to any party hereto, shall impair any such right, power or remedy to such party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or in any
similar breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement,
or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies either under this Agreement or by law or
otherwise afforded to any party, shall be cumulative and not alternative. 

10.12      Force Majeure. If either party fails to fulfill its obligations hereunder
(other than an obligation for the payment of money), when such failure is due to an act of God, or other circumstances beyond its reasonable control, including but not limited to fire, flood, civil commotion, riot, war (declared and undeclared),
revolution, or embargoes, then said failure shall be excused for the duration of such event and for such a time thereafter as is reasonable to enable the parties to resume performance under this Agreement, provided however, that in no event shall
such time extend for a period of more than one hundred eighty (180) days. 

10.13      Further Assurances. Each party shall, at any time, and from time to time,
prior to or after the EFFECTIVE DATE of this Agreement, at reasonable request of the other party, execute and deliver to the other such instruments and documents and shall take such actions as may be required to more effectively carry out the terms
of this Agreement. 
 10.14      Survival All representations, warranties,
covenants and agreements made herein and which by their express terms or by implication are to be performed after the execution and/or termination hereof, or are prospective in nature, shall survive such execution and/or termination, as the case may
be. This shall include Paragraphs 3.7 (Late Payments), 5.2 (Records), and Articles 6, 7, 8, 9, and 10. 

10.15      No Third Party Beneficiaries. Nothing in this Agreement shall be
construed as giving any person, firm, corporation or other entity, other than the parties hereto and their successors and permitted assigns, any right, remedy or claim under or in respect of this Agreement or any provision hereof. 

10.16      Headings. Article headings are for convenient reference and not a part of
this Agreement. All Exhibits are incorporated herein by this reference. 

10.17      Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed an original and all of which when taken together shall be deemed but one instrument. 

 IN WITNESS WHEREOF, this Agreement shall take effect as of the EFFECTIVE
DATE when it has been executed below by the duly authorized representatives of the parties. 
  

									
	THE JOHNS HOPKINS UNIVERSITY	 		 	SURGI-VISION, INC.
			
	 /s/ Wesley D. Blakeslee
	 		 	 /s/ K. Jenkins

	 Wesley D. Blakeslee
	 		 	 Name:
	 	 K. Jenkins

	 Executive Director
	 		 	 Title:
	 	 CEO

	 Johns Hopkins Technology Transfer
	 		 		 	
	 6/27/08
	 		 	 6/30/08

	 (Date)
	 		 	 (Date)
	 	

  

									
	 EXHIBIT A. LICENSE FEE & ROYALITIES.
	  	Admin	 		 	6/27/08 	  	
	 EXHIBIT B. SALES & ROYALTY REPORT FORM.
	  	Reviewed	 		 	 /s/  
 MKC  	  	

 EXHIBIT A 

LICENSE FEE & ROYALTIES 
  

	1.	 Initial License Fee: The license fee due under Paragraph 3.1 is twenty thousand dollars ($20,000). 

 

	2.	Contingent License Fee. Upon the issuance of the U.S. patent under patent application Serial No.[***], an additional license fee of twenty thousand dollars
($20,000) will be due. Company shall pay to JHU such contingent license fee within thirty (30) days following the issuance of such U.S. patent. 

  

	3.	 Minimum Annual Royalties: The minimum annual royalties pursuant to Paragraph 3.2 are: 

 

			
	
1st
 year:
  

2nd
 year:
  

3rd
 year, etc.
  
	    	 five thousand dollars ($5,000).

 
 ten thousand dollars ($10,000).

 
 twenty thousand dollars ($20,000).

 

	4.	 Royalties: The running royalty rate payable under Paragraph 3.3 is five percent (5%). 

 

	5.	 Sublicense consideration: The percent sublicense consideration payable under Paragraph 3.4 is twenty five percent (25%).

  

 [***] Indicates portions of this exhibit that have been omitted and filed separately
with the Securities and Exchange Commission pursuant to a request for confidential treatment. 

 EXHIBIT B 

QUARTERLY SALES & ROYALTY REPORT 

FOR LICENSE AGREEMENT BETWEEN
                     AND 

THE JOHNS HOPKINS UNIVERSITY DATED 
  

 
 FOR PERIOD OF
                     TO
                     

TOTAL ROYALTIES DUE FOR THIS PERIOD
$                     
  

													
	
PRODUCT  

ID  
	 	PRODUCT NAME  	 	 *JHU  

REFERENCE  
	 	
1st COMMERCIAL  

SALE DATE  
	 	 TOTAL NET 

SALES/SERVICES 
	 	 ROYALTY 

RATE 
	 	
AMOUNT 

DUE 

	  	 	  	 	  	 	  	 	  	 	  	 	  
	  	 	  	 	  	 	  	 	  	 	  	 	  
	  	 	  	 	  	 	  	 	  	 	  	 	  
	  	 	  	 	  	 	  	 	  	 	  	 	  
	  	 	  	 	  	 	  	 	  	 	  	 	  
	  	 	  	 	  	 	  	 	  	 	  	 	  

* Please provide the JHU Reference Number or Patent Reference 

This report format is to be used to report quarterly royalty statements to JHU. It should be placed on Company letterhead and accompany
any royalty payments due for the reporting period. This report shall be submitted even if no sales are reported.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]