Document:

EX-10.49

 Exhibit 10.49 

NOTICE OF GRANT OF RESTRICTED STOCK AWARD 

EVOFEM BIOSCIENCES, INC. 

2012 EQUITY INCENTIVE PLAN 

FOR GOOD AND VALUABLE CONSIDERATION, Evofem Biosciences, Inc. (the “Company”) hereby grants, under the provisions of the
Evofem Biosciences, Inc. 2012 Equity Incentive Plan (the “Plan”), to the Grantee designated in this Notice of Grant of Restricted Stock Award (the “Notice”) the number of shares of the Common Stock of the Company
set forth in the Notice, subject to certain restrictions as outlined below in this Notice and the additional provisions set forth in the attached Terms and Conditions of Restricted Stock Award (collectively, the “Agreement”). The
terms and conditions of the Plan are incorporated by reference in their entirety into this Agreement. When used in this Agreement, the terms which are defined in the Plan shall have the meanings given to them in the Plan, as modified herein (if
applicable). 
  

	
	Grantee:          [                    ]
	
	Grant Date:     [                    ]
	
	# of Shares of Restricted Stock:         [                    ]

 Vesting Schedule: Subject to the provisions contained in Paragraphs 5, 6 and 7 of the Terms and Conditions, this
Restricted Stock Award shall vest, and the applicable restrictions set forth in the Terms and Conditions shall lapse, in accordance with the following schedule, in the event the Grantee does not have a Separation from Service prior to the applicable
vesting date: 
 [Insert schedule—time-based or performance-based. The following is an example of a time-based schedule] 

 

					
	 Vesting Date
	  	Percentage of
Award Vesting	 
	 First Anniversary of Grant Date
	  	 	25	% 
	 Second Anniversary of Grant Date
	  	 	25	% 
	 Third Anniversary of Grant Date
	  	 	25	% 
	 Fourth Anniversary of Grant Date
	  	 	25	% 

 If the number of shares of Restricted Shares vesting as of a vesting date is a fractional number, the number vesting will be
rounded down to the nearest whole number with any fractional portion carried forward. 
 Acceleration of Vesting on Change in Control: [add provisions if
applicable; otherwise delete] 
 Acceleration of Vesting on Performance Goal: [add provisions if applicable; otherwise delete] 

 By signing below, the Grantee agrees that this Restricted Stock Award is granted under and governed by the
terms and conditions of the Evofem Biosciences, Inc. 2012 Equity Incentive Plan and the attached Terms and Conditions. 
  

									
	Grantee	 		 	Evofem Biosciences, Inc.
			
	  
	 		 	  

		 		 		 	By:	 	Saundra Pelletier
		 		 	Title:	 	Chief Executive Officer
	Date:	 	
                     

	 		 	Date:	 	
                     

 TERMS AND CONDITIONS OF STOCK OPTION AWARD 

The Stock Option Award (the “Award”) granted by Evofem Biosciences, Inc. (the “Company”) under the provisions of the Evofem
Biosciences, Inc. 2012 Equity Incentive Plan (the “Plan”) to the Participant specified in the Notice of Grant of Non-Qualified Stock Option Award (the “Notice”) to which these
Terms and Conditions of Stock Option Award (the “Terms”) are attached, is subject to the terms and conditions of the Plan, the Notice, these Terms, and the terms applicable to Awards granted to service providers outside the U.S. set
forth in the Appendix A hereto. The terms and conditions of the Plan are incorporated by reference in their entirety into these Terms (the Plan is available upon request). Together, the Notice, these Terms and all Exhibits and Appendices to the
Notice and these Terms constitute the “Agreement.” When used in this Agreement, the terms which are defined in the Plan shall have the meanings given to them in the Plan, as modified herein (if applicable). 

The Board has approved an award to the Participant of an Option with respect to a number of Shares, conditioned upon the Participant’s acceptance of the
provisions set forth in the Notice and these Terms within sixty (60) days after the Notice and these Terms are presented to the Participant for review. 

If designated in the Notice as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an “incentive stock option”
as defined in Section 422 of the Code. Nevertheless, to the extent that the Option fails to meet the requirements of an ISO under Section 422 of the Code, this Option shall be treated as a
non-qualified stock option (“NSO”). 
 The Company intends that this Option not be considered to
provide for the deferral of compensation under Section 409A and that this Agreement shall be so administered and construed. Further, the Company may modify the Plan and this Award to the extent necessary to fulfill this intent. 

 

	1.	Definitions. 

(a)    “Section 409A” means Section 409A of the Code. 

(b)    “Securities Act” means the Securities Act of 1933, as now in effect or as
hereafter amended. 
 (c)    “Separation from Service” means a termination of service of
the Participant, as determined by the Board, which determination shall be final, binding and conclusive; provided, however, that if any Award governed by Section 409A is to be distributed on a Separation from Service, then the definition
of Separation from Service for such purposes shall comply with the definition provided in Section 409A. 
  

	2.	Exercise of Option. 

 (a)    Right to
Exercise. This Option shall be exercisable, in whole or in part, during its term in accordance with the Vesting Schedule set out in the Notice and with the applicable provisions of the Plan and this Agreement. No Shares shall be issued pursuant
to the exercise of an Option unless the issuance and exercise comply with applicable laws. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to the Participant on the date on which the Option is exercised
with respect to such Shares. Until such time as the Option has been duly exercised and Shares have been delivered, the Participant shall have no rights as a shareholder of the Company and without limitation of the foregoing shall not be entitled to
exercise any voting rights with respect to such Shares and shall not be entitled to receive dividends or other distributions with respect thereto. 

  
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 (b)    Method of Exercise. The Participant may
exercise the Option by delivering an exercise notice in a form approved by the Company (the “Exercise Notice”) which shall state the election to exercise the Option, the number of Shares with respect to which the Option is being
exercised, and such other representations and agreements as may be required by the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Shares exercised. This Option shall be deemed to be exercised
upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Exercise Price. 

(c)    Acceleration of Vesting Under Certain Circumstances. The vesting and exercisability of the
Option shall not be accelerated under any circumstances, except as otherwise provided in the Notice or the Plan. 
  

	3.	Method of Payment. If the Participant elects to exercise the Option by submitting an Exercise Notice under Section 2(b) of this Agreement, the aggregate Exercise Price (as well as any applicable withholding
or other taxes) shall be paid by cash or certified check; provided, however, that the Board may consent, in its discretion, to payment in any of the following forms, or a combination of them: 

(a)    cash or certified check; 

(b)    a “net exercise” under which the Company reduces the number of shares of Common Stock
issued upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate Exercise Price and any applicable withholding, or such other consideration received by the Company under a cashless exercise
program approved by the Company in connection with the Plan; 
 (c)    surrender of other shares of
Common Stock owned by the Participant which have a Fair Market Value on the date of surrender equal to the aggregate Exercise Price of the exercised Shares and any applicable withholding; or 

(d)    any other consideration that the Board deems appropriate and in compliance with applicable law. 

 

	4.	Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during
the lifetime of the Participant only by the Participant. The terms of the Plan and this Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Participant. 

 

	5.	Term of Option. This Option may be exercised only within the term set out in the Notice, and may be exercised during such term only in accordance with the Plan and the terms of this Agreement. 

 

	6.	Withholding. 

 (a)    Regardless of any action the
Company takes with respect to any or all income tax, payroll tax or other tax-related withholding (“Tax-Related Items”), the Participant acknowledges
that the ultimate liability for all Tax-Related Items owed by the Participant is and remains the Participant’s responsibility and that the Company (i) makes no representations or undertakings
regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the grant, vesting or exercise of the Option or the subsequent sale of Shares acquired upon exercise; and
(ii) does not commit to structure the terms of the grant or any aspect of the Option to reduce or eliminate the Participant’s liability for Tax-Related Items. 

  
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 (b)    Prior to exercise of the Option, the Participant
shall pay or make adequate arrangements satisfactory to the Company to satisfy all withholding obligations of the Company. In this regard, the Participant authorizes the Company to withhold all applicable
Tax-Related Items legally payable by the Participant from the Participant’s wages or other cash compensation paid to the Participant by the Company or from proceeds of the sale of the Shares.
Alternatively, or in addition, to the extent permissible under applicable law, the Company may (i) sell or arrange for the sale of Shares that the Participant acquires to meet the minimum withholding obligation for Tax-Related Items, and/or (ii) withhold Shares otherwise issuable upon exercise of the Option, provided that the Company only withholds the amount of Shares necessary to satisfy the minimum withholding amount.
Finally, the Participant shall pay to the Company any amount of Tax-Related Items that the Company may be required to withhold as a result of the Participant’s participation in the Plan that cannot be
satisfied by the means previously described. The Company may refuse to issue and deliver Shares upon exercise of the Option if the Participant fails to comply with the Participant’s obligations in connection with the Tax-Related Items as described in this Section 7. 
  

	7.	Participant Representations. The Participant hereby represents to the Company that the Participant has read and fully understands the provisions of the Notice, these Terms and the Plan, and the Participant’s
decision to participate in the Plan is completely voluntary. Further, the Participant acknowledges that the Participant is relying solely on his or her own advisors with respect to the tax consequences of this Award. The Participant releases and
holds the Company, and its officers, directors, employees, stockholders and agents, harmless from any loss or claim related to or in any way connected with the tax consequences of the Option, including without limitation the treatment of the Option
under Section 409A. 

  

	8.	Regulatory Limitations on Exercises. Notwithstanding the other provisions of this Agreement, the Board shall have the sole discretion to impose such conditions, restrictions and limitations (including suspending
the exercise of the Option and the tolling of any applicable exercise period during such suspension) on the issuance of Common Stock with respect to this Option unless and until the Board determines that such issuance complies with (i) any
applicable registration requirements under the Securities Act or the Board has determined that an exemption therefrom is available, (ii) any applicable listing requirement of any stock exchange on which the Common Stock is listed,
(iii) any applicable Company policy or administrative rules, and (iv) any other applicable provision of state, federal or foreign law, including foreign securities laws where applicable. 

 

	9.	Right to Purchase Shares; Right of First Refusal. Notwithstanding the other provisions of this Agreement, at any time prior to an IPO, any Shares issued upon exercise of the Option shall be subject to the right
of purchase and the right of first refusal in favor of the Company as set forth in the Plan. 

  

	10.	Market Stand-off Agreement. In connection with an IPO and upon request of the Company or the underwriters managing such IPO, the Participant agrees not to sell, make any
short sale of, loan, grant any option for the purchase of, or otherwise dispose of any Shares issued upon exercise of the Option without the prior written consent of the Company or such underwriters, as the case may be, for such period of time from
the effective date of such registration as may be requested by the Company or such managing underwriters and to execute an agreement reflecting the foregoing as may be requested by the underwriters at the time of an IPO. 

  
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	11.	Miscellaneous. 

 (a)    Notices. Any notice
which either party hereto may be required or permitted to give to the other shall be in writing and may be delivered personally, by intraoffice mail, by fax, by electronic mail or other electronic means, or via a postal service, postage prepaid, to
such electronic mail or postal address and directed to such person as the Company may notify the Participant from time to time; and to the Participant at the Participant’s electronic mail or postal address as shown on the records of the Company
from time to time, or at such other electronic mail or postal address as the Participant, by notice to the Company, may designate in writing from time to time. 

(b)    Waiver. The waiver by any party hereto of a breach of any provision of this Agreement shall
not operate or be construed as a waiver of any other or subsequent breach. 
 (c)    Entire
Agreement. This Agreement and the Plan constitute the entire agreement between the parties with respect to the subject matter hereof. Any prior agreements, commitments or negotiations concerning the Award are superseded. 

(d)    Binding Effect; Successors. This Agreement shall inure to the benefit of and be binding upon
the parties hereto and to the extent not prohibited herein, their respective heirs, successors, assigns and representatives. Nothing in this Agreement, express or implied, is intended to confer on any person other than the parties hereto and as
provided above, their respective heirs, successors, assigns and representatives any rights, remedies, obligations or liabilities. 

(e)    Governing Law. This Agreement shall be governed by and construed in accordance with the laws
of the State of Delaware without giving effect to the principles of conflicts of law, and applicable Federal law. 

(f)    Headings. The headings contained herein are for the sole purpose of convenience of reference,
and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of these Terms. 

(g)    Conflicts; Amendment. The provisions of the Plan are incorporated in these Terms in their
entirety. In the event of any conflict between the provisions of these Terms and the Plan, the provisions of the Plan shall control. The Agreement may be amended at any time by the Board, provided that no amendment may, without the consent of the
Participant, materially impair the Participant’s rights with respect to the Award. 
 (h)    No
Right to Continued Employment. Nothing in the Notice or these Terms shall confer upon the Participant any right to continue in the employ or service of the Company or affect the right of the Company to terminate the Participant’s employment
or service at any time. 
 (i)    Further Assurances. The Participant agrees, upon demand of the
Company or the Board, to do all acts and execute, deliver and perform all additional documents, instruments and agreements which may be reasonably required by the Company or the Board, as the case may be, to implement the provisions and purposes of
the Notice and these Terms and the Plan. 

  
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 (j)    Dispute Resolution. 

(i)    Arbitration. If any controversy or claim arising out of this award cannot be resolved by the
Participant and the Company (each a “party” and collectively, the “parties”), such conflict or claim shall be resolved by arbitration in accordance with the then current rules of the American Arbitration Association
governing commercial disputes. Such matters will be arbitrated in the San Diego, California metropolitan area and, for purposes of these Terms, each party consents to arbitration in such place. Arbitration proceedings shall commence when either
party notifies the other that a dispute to arbitration exists and requests that the dispute be arbitrated. If the parties to the dispute cannot within thirty (30) days after the request for arbitration is made mutually agree upon an arbitrator
or arbitrators to settle the dispute, each party to the dispute shall select an arbitrator. The two arbitrators shall, within fifteen (15) days after the appointment of the last arbitrator, select a third arbitrator and the three arbitrators
shall determine the matter. Each arbitrator shall act impartially. If for any reason an arbitrator is not appointed within the time provided or the arbitrators appointed by the parties cannot agree upon a third arbitrator, then an arbitrator shall
be appointed by the Superior Court in and for the County of San Diego, California in accordance with applicable state law. Unless the parties mutually agree otherwise, any arbitrator selected will be familiar with equity compensation disputes. The
final decision will be that of the sole arbitrator or of the majority of the arbitrators, and shall be final and binding upon the parties, except as otherwise provided by law. The sole arbitrator or the majority of arbitrators shall also determine
the allocation of costs of the arbitration among the parties, and shall have the right to award to the prevailing party all cost of the arbitration, including reasonable attorneys’ fees. 

(ii)    Jurisdiction and Venue. For purposes of enforcing the award or decision in any arbitration
proceeding, each party hereto submits to the exclusive jurisdiction of California state courts located in the City of San Diego or the United States District Court for the Southern District of California. In that regard, each party hereby waives,
and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from
attachment or execution (except as protected by applicable law), that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that these Terms or the subject matter hereof
may not be enforced in or by such court, and (ii) hereby waives and agrees not to seek any review by any court of any other jurisdiction which may be called upon to grant an enforcement of the judgment of any such court. Each party hereby
consents to service of process by registered mail at the address to which notices are to be given. Each party agrees that its, his or her submission to jurisdiction and its, his or her consent to service of process by mail is made for the express
benefit of each other party. Final judgment against any party in any such action, suit or proceeding may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant to the laws of
such other jurisdiction. 
 (k)    Confidentiality. The Participant agrees that the terms and
conditions of the Restricted Stock Units award reflected in the Notice and these Terms are strictly confidential and, with the exception of Participant’s counsel, tax advisor, immediate family, or as required by applicable law, have not and
shall not be disclosed, discussed, or revealed to any other persons, entities, or organizations, whether within or outside Company, without prior written approval of Company. The Participant further agrees to take all reasonable steps necessary to
ensure that confidentiality is maintained by any of the individuals or entities referenced above to whom disclosure is authorized. 

  
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 (l)    Restrictive Covenants. If the Participant
is subject to any employment-related covenants (including covenants regarding non-competition, non-solicitation of customers/employees and preservation of confidential
information) under any agreement with the Company or any Subsidiary, the vesting and receipt of benefits under this Award is specifically conditioned on the Participant’s compliance with such covenants. To the extent allowed by and consistent
with applicable law and any applicable limitations period, if it is determined at any time that the Participant has materially breached any such covenants, the Company will be entitled to (i) cause any unvested portion of the Award to be
immediately canceled without any payment of consideration by the Company and (ii) recover from the Participant in its sole discretion some or all of the Shares (or proceeds received by the Participant from such Shares) paid to the Participant
pursuant to this Agreement. The Participant recognizes that if the Participant breaches any such covenants, the losses to the Company and/or its Subsidiaries may amount to the full value of any Shares paid to the Participant pursuant to this
Agreement. 
 (m)    Additional Acknowledgments; Appendix A. By accepting this Award, the
Participant acknowledges and agrees that this Award is subject to the terms applicable to Awards granted to service providers outside the U.S. set forth in the Appendix A hereto. Appendix A constitutes part of this Agreement. Please review the
provisions of Appendix A carefully, as this Award will be null and void absent the Participant’s acceptance of such provisions. The Company reserves the right to impose other requirements on the Award to the extent that the Company determines
it is necessary or advisable in order to comply with local law or facilitate the administration of the Award and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 

  
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 APPENDIX A 

TO THE TERMS AND CONDITIONS OF STOCK OPTION AWARD 

Terms Applicable to Awards Granted to Service Providers Outside the U.S. 

 

	1.	DATA PRIVACY 

 By accepting the this Option, the Participant hereby explicitly and
unambiguously consents to the collection, use and transfer, in electronic or other form, of the Participant’s personal data as described in this document and any other grant materials by and among, as applicable, the Company and any Affiliate
for the exclusive purpose of implementing, administering and managing the Option. 
 The Participant understands that the Company
holds certain personal information about the Participant, including, but not limited to, the Participant’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job
title, any shares of stock or directorships held in the Company or any Affiliates, details of any entitlement to options, shares of stock or equivalent benefits awarded, canceled, vested, unvested or outstanding in the Participant’s favor
(“Data”), for the purpose of implementing, administering and managing the Participant’s participation in the Plan. The Participant understands that Data may be transferred to any third parties assisting in the
implementation, administration and management of the Plan, that these recipients may be located in the Participant’s country or elsewhere (e.g., the United States), and that the recipient’s country may have different data privacy laws and
protections from the Participant’s country. The Participant understands that the Participant may request a list with the names and addresses of any potential recipients of the Data by contacting the Participant’s local human resources
representative. The Participant authorizes the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the exclusive purposes of implementing, administering and managing the Participant’s
participation in the Plan. The Participant understands that Data will be held only as long as is necessary to implement, administer and manage the Participant’s participation in the Plan. The Participant understands that the Participant may, at
any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the
Participant’s local human resources representative. Further, the Participant understands that the Participant is providing the consents herein on a purely voluntary basis. If the Participant does not consent, or if the Participant later seeks
to revoke the Participant’s consent, the Participant’s employment status or service and career with the Participant’s employer will not be adversely affected; the only adverse consequence of refusing or withdrawing the
Participant’s consent is that the Company would not be able to grant to the Participant Options or other awards under the Plan or administer or maintain such awards. Therefore, the Participant understands that refusing or withdrawing the
Participant’s consent may affect the Participant’s ability to benefit from the Option. For more information on the consequences of the Participant’s refusal to consent or withdrawal of consent, the Participant understands that the
Participant may contact the Participant’s local human resources representative. 

  
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	2.	ADDITIONAL ACKNOWLEDGEMENTS 

 By entering into this Agreement and accepting the grant of
the Option evidenced hereby, the Participant acknowledges, understands and agrees that: 
 (a)    the Plan is established
voluntarily by the Company, and all awards under the Plan are discretionary in nature; 
 (b)    the grant of the Option
is voluntary and occasional and does not create any contractual or other right to receive future awards of Options or benefits in lieu of Options, even if such awards have been awarded in the past; 

(c)    all decisions with respect to future awards, if any, will be at the sole discretion of the Company; 

(d)    the grant of Option shall not create a right to employment with the Company or any other Affiliate and shall not
interfere with the ability of the Company or any Affiliate to terminate the Participant’s employment or service relationship (if any); 

(e)    the Participant is voluntarily participating in the Plan; 

(f)    the Option and any payment made pursuant to the Option, and the value and income of same, are not part of normal or
expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal,
end-of-service payments, bonuses, long-service awards, pension or retirement benefits or welfare benefits or similar payments; 

(g)    unless otherwise agreed with the Company, the Option and any Shares subject to the Option, and the value and income
of same, are not granted as consideration for, or in connection with, any service the Participant may provide as a director of any affiliate; 

(h)    in accepting the grant of the Option, the Participant expressly recognizes that the Option is an award made solely
by the Company, with principal offices in San Diego, CA, U.S.A.; the Company is solely responsible for the administration of the Plan and the Participant’s participation in the Plan; in the event that the Participant is an employee or
consultant of an Affiliate, the Option and the Participant’s participation in the Plan will not create a right to employment be interpreted to form an employment or service contract or relationship with the Company; furthermore, the Option will
not be interpreted to form an employment or service contract with any Affiliate; 
 (i)    the future value of the Shares
which may be delivered upon exercise of the Option is unknown, indeterminable and cannot be predicted with certainty; 

(j)    no claim or entitlement to compensation or damages shall arise from forfeiture of the Option resulting from
termination of the Participant’s employment or service (for any reason whatsoever, whether or not such termination is later found to be invalid or in breach of the employment laws in the jurisdiction where the Participant is employed or
providing services or the terms of the Participant’s employment or service agreement, if any) and, in consideration of the grant of the Option, the Participant irrevocably agrees never to institute any claim against the Company, the
Participant’s employer or any other affiliate, waives the 

  
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Participant’s ability, if any, to bring any such claim, and releases the Company, the Participant’s employer and any other affiliate from any such claim; if, notwithstanding the
foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, the Participant shall be deemed irrevocably to have agreed not to pursue such claim, and the Participant agrees to execute any and all
documents necessary to request dismissal or withdrawal of such claim; 
 (l)    the Participant is solely responsible
for investigating and complying with any exchange control laws applicable to the Participant in connection with his or her participation in the Plan; 

(m)    unless otherwise provided in the Plan or by the Company in its discretion, the Option and the benefits evidenced by
this Agreement do not create any entitlement to have the Option or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the
Company’s Common Stock; and 
 (n)    neither the Company, the Participant’s employer nor any other affiliate
shall be liable for any foreign exchange rate fluctuation between the Participant’s local currency and the United States Dollar that may affect the value of the Option, any payment made pursuant to the Option or the subsequent sale of any
shares of Common Stock acquired under the Plan. 
  

	3.	NO ADVICE REGARDING GRANT 

 The Company is not providing any tax, legal, or financial
advice, nor is the Company making any recommendations regarding the Participant’s participation in the Plan or the Participant’s acquisition of any Shares under the Plan or subsequent sale of such Shares. The Participant is hereby advised
to consult with the Participant’s personal tax, legal and financial advisors regarding the Participant’s participation in the Plan before taking any action in relation thereto. 

 

	4.	LANGUAGE 

 If the Participant has received this Agreement or any other document related
to the Plan translated into a language other than English and if the meaning of the translated version differs from the English version, the English version shall control. 
  

	5.	ELECTRONIC DELIVERY AND ACCEPTANCE 

 The Company may, in its sole discretion, decide to
deliver any documents related to current or future participation in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. 
  

	6.	INSIDER-TRADING/MARKET-ABUSE LAWS 

 The Participant acknowledge that, depending on his or
her country, the Participant may be subject to insider-trading restrictions and/or market-abuse laws, which may affect his 

  
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or her ability to acquire or sell Shares acquired or rights to acquire Shares (e.g., Awards, Units) under the Plan during such times as the Participant is considered to have “inside
information” regarding the Company (as defined by the laws in his or her country). Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Company insider
trading policy. The Participant is responsible for complying with any applicable restrictions, and the Participant is advised to speak to his or her personal legal advisor regarding this matter. 

  
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 TERMS AND CONDITIONS OF RESTRICTED STOCK AWARD 

The Restricted Stock Award (the “Award”) granted by Evofem Biosciences, Inc. (the “Company”) under the provisions of the
Evofem Biosciences, Inc. 2012 Equity Incentive Plan (the “Plan”), to the Grantee specified in the Notice of Grant of Restricted Stock Award (the “Notice”) to which these Terms and Conditions of Restricted Stock
Award (the “Terms”) are attached, is subject to the terms and conditions of the Plan, the Notice, and these Terms. The terms and conditions of the Plan are incorporated by reference in their entirety into these Terms (the Plan is
available upon request). Together, the Notice, the Plan and these Terms constitute the “Agreement.” When used in this Agreement, the terms which are defined in the Plan shall have the meanings given to them in the Plan, as modified
herein (if applicable). For purposes this Agreement, any reference to the Company shall include a reference to any Affiliate. 
 The Board has approved an
award to the Grantee of a number of shares of the Company’s Common Stock, conditioned upon the Grantee’s acceptance of the provisions set forth in the Notice and these Terms within sixty (60) days after the Notice and these Terms are
presented to the Grantee for review. 
  

	1.	Definitions. 

(a)    “Section 409A” means Section 409A of the Code. 

(b)    “Securities Act” means the Securities Act of 1933, as now in effect or as
hereafter amended. 
 (c)    “Separation from Service” means a termination
of service of the Grantee, as determined by the Board, which determination shall be final, binding and conclusive; provided, however, that if any Award governed by Section 409A is to be distributed on a Separation from Service,
then the definition of Separation from Service for such purposes shall comply with the definition provided in Section 409A. 
  

	2.	Grant of Restricted Stock. 

 (a)    Subject to the
terms and conditions of the Plan, as of the Grant Date, the Company grants to the Grantee the number of shares of Common Stock set forth in the Notice (the “Restricted Shares”), subject to the restrictions set forth in
Paragraph 3 of these Terms, the provisions of the Plan and the other provisions contained in these Terms. If and when the restrictions set forth in Paragraph 3 expire in accordance with these Terms without forfeiture of the Restricted Shares, and
upon the satisfaction of all other applicable conditions as to the Restricted Shares, such shares shall no longer be considered Restricted Shares for purposes of these Terms. 

(b)    As soon as practicable after the Grant Date, the Company shall direct that a stock certificate or
certificates representing the applicable Restricted Shares be registered in the name of and issued to the Grantee. Such certificate or certificates shall be held in the custody of the Company or its designee until the expiration of the applicable
Restricted Period (as defined in Paragraph 4). Upon the request of the Company, the Grantee shall deliver to the Company one or more stock powers endorsed in blank relating to the Restricted Shares. 

(c)    Except as provided in Paragraph 2(d), in the event that a certificate for the Restricted Shares is
delivered to the Grantee, such certificate shall bear the following legend (the “Legend”): 

  
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 THE OWNERSHIP AND TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED
HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) OF THE EVOFEM BIOSCIENCES, INC. 2012 EQUITY INCENTIVE PLAN AND A RESTRICTED STOCK AWARD NOTICE ENTERED INTO BETWEEN THE REGISTERED OWNER AND EVOFEM BIOSCIENCES, INC. COPIES OF
SUCH PLAN AND NOTICE ARE ON FILE IN THE EXECUTIVE OFFICES OF EVOFEM BIOSCIENCES, INC. 
 In addition, the stock certificate or certificates
for the Restricted Shares shall be subject to such stop-transfer orders and other restrictions as the Company may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon
which the Common Stock is then listed, and any applicable federal or state securities law, and the Company may cause a legend or legends to be placed on such certificate or certificates to make appropriate reference to such restrictions. 

(d)    As soon as administratively practicable following the expiration of the Restricted Period without a
forfeiture of the Restricted Shares, and upon the satisfaction of all other applicable conditions as to the Restricted Shares, including, but not limited to, the payment by the Grantee of all applicable withholding taxes, the Company shall deliver
or cause to be delivered to the Grantee a certificate or certificates for the applicable Restricted Shares which shall not bear the Legend. 
  

	3.	Restrictions. 

 (a)    [The Grantee shall have
all rights and privileges of a stockholder as to the Restricted Shares, including the right to vote and receive dividends or other distributions with respect to the Restricted Shares, except that the following restrictions shall apply]
OR [The Grantee shall have no rights or privileges of a stockholder as to the Restricted Shares prior to vesting, including no right to vote or receive dividends or other distributions with respect to the Restricted Shares; in
addition, the following provisions shall apply]: 
 (i) the Grantee shall not be entitled to delivery of the
certificate or certificates for the Restricted Shares until the expiration of the Restricted Period without a forfeiture of the Restricted Shares and upon the satisfaction of all other applicable conditions; 

(ii) none of the Restricted Shares may be sold, transferred (other than by will or the laws of descent and distribution),
assigned, pledged or otherwise encumbered or disposed of during the Restricted Period applicable to such shares; and 
 (iii)
all of the Restricted Shares shall be forfeited and returned to the Company and all rights of the Grantee with respect to the Restricted Shares shall terminate in their entirety on the terms and conditions set forth in Paragraph 5. 

(b)    Any attempt to dispose of Restricted Shares or any interest in the Restricted Shares in a manner
contrary to the restrictions set forth in these Terms shall be void and of no effect. 
  

	4.	 Restricted Period and Vesting. The “Restricted Period” is the period beginning on
the Grant Date and ending on the date the Restricted Shares, or such applicable portion of the Restricted 

  
 2 

	 	
Shares, are deemed vested under the schedule set forth in the Notice [(including any applicable accelerated vesting provisions set forth in the Notice)]. 

 

	5.	Forfeiture. 

 (a)    Subject to Paragraph 7 below, if
during the Restricted Period (i) the Grantee incurs a Separation from Service, (ii) there occurs a material breach of the Notice or these Terms by the Grantee or (iii) the Grantee fails to meet the tax withholding obligations
described in Paragraph 6(b), all rights of the Grantee to the Restricted Shares that have not vested in accordance with Paragraph 4 as of the date of such Separation from Service [(including pursuant to any applicable accelerated vesting
provisions set forth in the Notice)] shall terminate immediately and be forfeited in their entirety. 

(b)    In the event of any forfeiture under this Paragraph 5, the certificate or certificates representing
the forfeited Restricted Shares shall be canceled to the extent of any Restricted Shares that were forfeited. 
  

	6.	Withholding. 

 (a)    Regardless of any action the
Company takes with respect to any or all income tax, payroll tax or other tax-related withholding (“Tax-Related Items”), the Grantee acknowledges
that the ultimate liability for all Tax-Related Items owed by the Grantee is and remains the Grantee’s responsibility and that the Company (i) makes no representations or undertakings regarding the
treatment of any Tax-Related Items in connection with any aspect of the Award, including the grant or vesting of the Award or the subsequent sale of Shares; and (ii) does not commit to structure the terms
of the grant or any aspect of the Award to reduce or eliminate the Grantee’s liability for Tax-Related Items. 

(b)    Prior to vesting of the Award, the Grantee shall pay or make adequate arrangements satisfactory to
the Company to satisfy all withholding obligations of the Company. In this regard, the Grantee authorizes the Company to withhold all applicable Tax-Related Items legally payable by the Grantee from the
Grantee’s wages or other cash compensation paid to the Grantee by the Company or from proceeds of the sale of the Shares. Alternatively, or in addition, to the extent permissible under applicable law, the Company may (i) sell or arrange
for the sale of Shares that the Grantee acquires to meet the withholding obligation for Tax-Related Items, and/or (ii) withhold Shares otherwise deliverable upon vesting at no more than the maximum
applicable withholding rate. Finally, the Grantee shall pay to the Company any amount of Tax-Related Items that the Company may be required to withhold as a result of the Grantee’s participation in the
Plan that cannot be satisfied by the means previously described. The Company may refuse to deliver Shares upon vesting of the Award if the Grantee fails to comply with the Grantee’s obligations in connection with the Tax-Related Items as described in this Paragraph 6. 
  

	7.	Board Discretion. Notwithstanding any provision of the Notice or these Terms to the contrary, the Board shall have discretion under the Plan to waive any forfeiture of the Restricted Shares as set forth in
Paragraph 5, the Restricted Period and any other conditions set forth in the Notice or these Terms. 

  

	8.	 Grantee Representations. The Grantee hereby represents to the Company that the Grantee has read and fully
understands the provisions of the Notice, these Terms and the Plan and the Grantee’s decision to participate in the Plan is completely voluntary. Further, the Grantee 

  
 3 

	 	
acknowledges that the Grantee is relying solely on his or her own advisors with respect to the tax consequences of this restricted stock award. 

 

	9.	Regulatory Restrictions on the Restricted Shares. Notwithstanding the other provisions of this Agreement, the Board shall have the sole discretion to impose such conditions, restrictions and limitations on the
issuance of Common Stock with respect to this Award unless and until the Board determines that such issuance complies with (i) any applicable registration requirements under the Securities Act or the Board has determined that an exemption
therefrom is available, (ii) any applicable listing requirement of any stock exchange on which the Common Stock is listed, (iii) any applicable Company policy or administrative rules, and (iv) any other applicable provision of state,
federal or foreign law, including foreign securities laws where applicable. 

  

	10.	Right to Purchase Shares; Right of First Refusal. Notwithstanding the other provisions of this Agreement, at any time prior to an IPO, any Restricted Shares that become vested shall be subject to the right of
purchase and the right of first refusal in favor of the Company as set forth in the Plan. 

  

	11.	Market Stand-off Agreement. In connection with an IPO and upon request of the Company or the underwriters managing such IPO, the Grantee agrees not to sell, make any short
sale of, loan, grant any option for the purchase of, or otherwise dispose of any Shares without the prior written consent of the Company or such underwriters, as the case may be, for such period of time from the effective date of such registration
as may be requested by the Company or such managing underwriters and to execute an agreement reflecting the foregoing as may be requested by the underwriters at the time of an IPO. 

12.    Miscellaneous. 

(a)    Notices. Any notice which either party hereto may be required or permitted to give to the
other shall be in writing and may be delivered personally, by intraoffice mail, by fax, by electronic mail or other electronic means, or via a postal service, postage prepaid, to such electronic mail or postal address and directed to such person as
the Company may notify the Grantee from time to time; and to the Grantee at the Grantee’s electronic mail or postal address as shown on the records of the Company from time to time, or at such other electronic mail or postal address as the
Grantee, by notice to the Company, may designate in writing from time to time. 
 (b)    Waiver.
The waiver by any party hereto of a breach of any provision of the Notice or these Terms shall not operate or be construed as a waiver of any other or subsequent breach. 

(c)    Entire Agreement. These Terms, the Notice and the Plan constitute the entire agreement
between the parties with respect to the subject matter hereof. Any prior agreements, commitments or negotiations concerning the Award are superseded. 

(d)    Binding Effect; Successors. These Terms shall inure to the benefit of and be binding upon the
parties hereto and to the extent not prohibited herein, their respective heirs, successors, assigns and representatives. Nothing in these Terms, express or implied, is intended to confer on any person other than the parties hereto and as provided
above, their respective heirs, successors, assigns and representatives any rights, remedies, obligations or liabilities. 

  
 4 

 (e)    Governing Law. The Notice and these Terms
shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect to the principles of conflicts of law. 

(f)    Headings. The headings contained herein are for the sole purpose of convenience of reference,
and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of these Terms. 

(g)    Conflicts; Amendment. The provisions of the Plan are incorporated in these Terms in their
entirety. In the event of any conflict between the provisions of these Terms and the Plan, the provisions of the Plan shall control. The Agreement may be amended at any time by the Board, provided that no amendment may, without the consent of the
Grantee, materially impair the Grantee’s rights with respect to the Restricted Stock Award. 

(h)    No Right to Continued Employment. Nothing in the Notice or these Terms shall confer upon the
Grantee any right to continue in the employ or service of the Company or affect the right of the Company to terminate the Grantee’s employment or service at any time. 

(i)    Further Assurances. The Grantee agrees, upon demand of the Company or the Board, to do all
acts and execute, deliver and perform all additional documents, instruments and agreements which may be reasonably required by the Company or the Board, as the case may be, to implement the provisions and purposes of the Notice and these Terms and
the Plan. 
 (j)    Dispute Resolution. 

(i)    Arbitration. If any controversy or claim arising out of this award cannot be resolved by the
Grantee and the Company (each a “party” and collectively, the “parties”), such conflict or claim shall be resolved by arbitration in accordance with the then current rules of the American Arbitration Association
governing commercial disputes. Such matters will be arbitrated in the San Diego, California metropolitan area and, for purposes of these Terms, each party consents to arbitration in such place. Arbitration proceedings shall commence when either
party notifies the other that a dispute to arbitration exists and requests that the dispute be arbitrated. If the parties to the dispute cannot within thirty (30) days after the request for arbitration is made mutually agree upon an arbitrator
or arbitrators to settle the dispute, each party to the dispute shall select an arbitrator. The two arbitrators shall, within fifteen (15) days after the appointment of the last arbitrator, select a third arbitrator and the three arbitrators
shall determine the matter. Each arbitrator shall act impartially. If for any reason an arbitrator is not appointed within the time provided or the arbitrators appointed by the parties cannot agree upon a third arbitrator, then an arbitrator shall
be appointed by the Superior Court in and for the County of San Diego, California in accordance with applicable state law. Unless the parties mutually agree otherwise, any arbitrator selected will be familiar with equity compensation disputes. The
final decision will be that of the sole arbitrator or of the majority of the arbitrators, and shall be final and binding upon the parties, except as otherwise provided by law. The sole arbitrator or the majority of arbitrators shall also determine
the allocation of costs of the arbitration among the parties, and shall have the right to award to the prevailing party all cost of the arbitration, including reasonable attorneys’ fees. 

(ii)    Jurisdiction and Venue. For purposes of enforcing the award or decision in any arbitration
proceeding, each party hereto submits to the exclusive jurisdiction of 

  
 5 

 
California state courts located in the City of San Diego or the United States District Court for the Southern District of California. In that regard, each party hereby waives, and agrees not to
assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or
execution (except as protected by applicable law), that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that these Terms or the subject matter hereof may not be
enforced in or by such court, and (ii) hereby waives and agrees not to seek any review by any court of any other jurisdiction which may be called upon to grant an enforcement of the judgment of any such court. Each party hereby consents to
service of process by registered mail at the address to which notices are to be given. Each party agrees that its, his or her submission to jurisdiction and its, his or her consent to service of process by mail is made for the express benefit of
each other party. Final judgment against any party in any such action, suit or proceeding may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant to the laws of such other
jurisdiction. 
 (k)    Confidentiality. The Grantee agrees that the terms and conditions of the
Restricted Stock award reflected in the Notice and these Terms are strictly confidential and, with the exception of Grantee’s counsel, tax advisor, immediate family, or as required by applicable law, have not and shall not be disclosed,
discussed, or revealed to any other persons, entities, or organizations, whether within or outside Company, without prior written approval of Company. The Grantee further agrees to take all reasonable steps necessary to ensure that confidentiality
is maintained by any of the individuals or entities referenced above to whom disclosure is authorized. 

  
 6EX-10.50

 Exhibit 10.50 

CONFIDENTIAL TREATMENT REQUESTED 

AMENDED AND RESTATED LICENSE AGREEMENT 

This Amended and Restated License Agreement (the “Agreement”) is made and effective as of the Effective Date as defined below by and
between Evofem, Inc. having a principal place of business at 8910 University Center Lane, Suite 120, San Diego, California 92122 (LICENSEE), and Rush University Medical Center, a not-for-profit corporation having a principal place of business at
1700 West Van Buren Street, Suite 301, Chicago, Illinois 60612-2734 (RUSH) and amends and restates in its entirety that certain License Agreement dated January 9, 2003 between the parties’ respective predecessors-in-interest, Instead, Inc.
and Rush-Presbyterian-St. Luke’s Medical Center, and as amended by that certain Addendum to License Agreement dated February 6, 2012 (the “Prior Agreement”). 

INTRODUCTION 

1.        WHEREAS, RUSH is, among other things, a medical research facility engaged in the development of new
technology with beneficial health application. It has developed and is continuing research in the area of Technology, as defined in Section 1.13 below, which Technology is perceived to have significant health advantages for contraceptive uses
and general vaginal health; 
 2.        WHEREAS, LICENSEE is in the business of manufacturing, marketing and
selling feminine health products and desires to expand its product line by licensing the Technology from RUSH; 

3.        WHEREAS, LICENSEE has represented to RUSH, to induce RUSH to enter into this Agreement, that LICENSEE has
the desire, expertise and knowledge to develop, produce, market and sell Products as defined below and/or Processes as defined below and that it shall commit itself to a thorough, vigorous and diligent program of exploiting the Technology to promote
public utilization of the Technology; 
 4.        WHEREAS, LICENSEE and RUSH now mutually desire to amend and
restate in its entirety the Prior Agreement to, among other things: (i) clarify the real parties in interest to the Agreement, (ii) include the terms of the Addendum such that all the terms of the Agreement are contained in a single
document, and (iii) make certain other mutually agreed upon changes to the terms of the Agreement; and 

5.        WHEREAS, RUSH is the lawful owner of the Technology and has the right to grant the license as provided
herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and promises contained in this Agreement and other good and valuable
consideration, the sufficiency of which is acknowledged by the parties, RUSH and LICENSEE agree as follows: 
 SECTION 1. DEFINITIONS 

In the terms defined and used herein, the singular shall include the plural and vice versa. Terms in this Agreement (other than names of
parties and Section headings) which are set forth in upper case letters have the meanings established for such terms in the succeeding paragraphs of this Section 1. 
  

	 	1.1	“Affiliate” means any company, corporation or business which is at least fifty percent (50%) owned or controlled by LICENSEE, or which owns or controls at least fifty percent (50%) of LICENSEE, or
which together with LICENSEE is commonly owned or controlled by a Third Party who owns or controls at least fifty percent (50%) of each. 

  

	 	1.2	“Effective Date” of this Agreement means the date of last signing. 

  

	 	1.3	“Field” means any and all therapeutic, prophylactic and/or diagnostic uses, including, without limitation, use for female vaginal health and/or contraception. 

 

	 	1.4	“Government” means the United States Government. 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

  

	 	1.5	“Improvement” means any modification of Product and/or Process made within the Term of this Agreement in the course of research supported or developed by RUSH utilizing the Technology. 

 

	 	1.6	“Know-how” means all compositions of matter, techniques and data and other know-how and technical information including inventions (whether or not patentable), Improvements and developments, practices,
methods, concepts, know-how, trade secrets, documents, computer data, computer code, apparatus, clinical and regulatory strategies, test data, analytical and quality control data, formulation, manufacturing, patent data or descriptions, development
information, drawings, specifications, designs, plans, proposals and technical data and manuals and all other proprietary information in the Field that is owned or controlled by RUSH as of the Effective Date or during the Term of this Agreement and
which is required to practice the Patents and/or Improvements. Know-how also includes adverse information which effects the ability to practice the Patents and/or Improvements. 

 

	 	1.7	“Minimum Annual Royalty” means the minimum sum payable to RUSH by LICENSEE during any annual term of this Agreement. Such term commences three (3) years after obtaining the appropriate approval and
commencement of sales and shall represent the twelve (12) month period (or any successive twelve (12) month period) starting the month after this date of commencement. The Minimum Annual Royalty shall only be due in the event that
royalties, including sublicense revenue, paid to RUSH are less than the amount indicated as the Minimum Annual Royalty amount. In such case, the amount to be paid shall be calculated as the amount of the Minimum Annual Royalty minus the sum of the
amount of royalties and sublicense revenue paid during this twelve (12) month period. 

  

	 	1.8	“Net Sales” means the gross invoiced amounts received for the sale, transfer, performance or other disposition for consideration of Product or Process to any Third Party by LICENSEE or its Affiliates, less
charge backs, disposed of rejected items, transportation costs, insurance, customs and duties, use and turnover taxes, trade discounts and credits for rejected or returned goods, to the extent and only to the extent that they are regularly and
customarily stated as a separate billable item on invoices and are so stated on the invoice( s) for which deduction from the gross invoiced amounts is claimed. No allowance or deduction shall be made for commissions or fees for collection, by
whatever name known. If LICENSEE or its Affiliates receive anything of value in lieu of cash payments in consideration for the sale, transfer, performance or other disposition of the Product or Process to any Third Party, LICENSEE shall assess a Net
Sales value on such transaction based on the fair market value of such payment. If LICENSEE or its Affiliates are the end user of a Product or Process, the Net Sales from each such use shall be that invoiced by LICENSEE to a Third Party end user of
the same Product or Process. If no such Third Party end users exist, RUSH and LICENSEE shall negotiate in good faith to determine an equitable Net Sales price. 

  

	 	1.9	“Patent” means (a) any and all patent applications filed in any country of the world by or on behalf of RUSH that claim priority from United States Patent Application No. [***] entitled “[***]”
filed [***], including the parent application, any and all additions, divisions, continuations, continuation-in-part, pipeline protection, substitutions, reissues, reexaminations, extensions, registrations, patent term extensions, supplementary
protections certificates and renewals of any of the above, and (b) any and all patents issuing from any of the foregoing in any country of the world. 

  

	 	1.10	“Process” means any and all method(s), process(es) or procedure(s): (a) that cannot be performed, in whole or in part, without infringing one or more Valid Claims under the Patents or Improvements; or
(b) that cannot be performed, in whole or in part, without using some or all of the Know-how. 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

  

	 	1.11	“Product” means any and all products or process( es), composition(s) or material(s): (a) the manufacture or sale of which would, but for the license granted herein, infringe a Valid Claim within the
Patents or Improvements, or the use, manufacture or sale of such product(s), composition(s) or material(s) would infringe a Valid Claim of any Process, in each case in the country in which such product is manufactured, used and/or sold.
“Product” shall also mean: (b) any and all product(s) or process(es), composition(s) or material(s) the use, manufacture or sale of which incorporates some or all of the Know-how. 

 

	 	1.12	“Regulatory Approval” means final approval by the United States Food and Drug Administration, or the foreign equivalent of same, of Product or Process for the uses described in the Technology.

  

	 	1.13	“Technology” means acid-buffering, bioadhesive vaginal formulation for the prevention of disease and/or contraception as described in the Know-how and described and claimed in the Patents and/or Improvement
thereto. 

  

	 	1.14	“Term” means the period beginning on the Effective Date and extending to the expiration of the last to expire Patent or patent claiming an Improvement. 

 

	 	1.15	“Territory’’ means worldwide. 

  

	 	1.16	“Third Party” means a person or entity that is not a party to this Agreement or an Affiliate of a party to this Agreement. 

 

	 	1.17	“Valid Claim” means a claim of an issued and unexpired patent or a claim of a pending patent application within the Patents or Improvements which has not been held unpatentable, invalid or unenforceable by a
court or other governmental agency of competent jurisdiction and has not been found admitted to be invalid or unenforceable through reissue, re-examination, disclaimer or otherwise; provided, however, that if the holding of such court or agency is
later reversed by a court or agency with overriding authority, the claim shall be reinstated as a Valid Claim with respect to Product or Process made or used after the date of such reversal. 

SECTION 2. LICENSE 
  

	 	2.1	Grant. RUSH hereby grants and agrees to grant to LICENSEE an exclusive license of the Patents, Improvements and Know-how within the Territory, only in the Field, with the right to sublicense, to make, have made,
lease, use, distribute, market, offer for sale, have sold, import and/or otherwise dispose of Products and practice the Processes under the Patents, Improvements and/or Know-how. 

 

	 	2.2	Grant-Back. Notwithstanding Section 2.1 above, LICENSEE hereby grants back to RUSH, its Affiliates and/or its sublicensees a royalty-free, non-exclusive, perpetual, license to the Patents, Improvements and
Know-how for noncommercial research purposes. 

  

	 	2.3	No Implied License. Nothing herein shall be construed as granting LICENSEE, by implication, estoppel or otherwise, any license or other right to any other intellectual property owned, controlled by and/or
invented by RUSH or any of the inventors or authors of the Patents, Improvements and/or Know-how, or to grant to LICENSEE any right or license other than those expressly granted herein. 

SECTION 3. DUE DILIGENCE 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

  

	 	3.1	Due Diligence. LICENSEE shall use its best efforts to bring one or more Products or Processes to market through thorough, vigorous and diligent programs of development, testing and marketing of the Technology and
to continue active, diligent marketing efforts for one or more Products or Processes throughout the Term of this Agreement. 

  

	 	3.2	Milestones. In addition, LICENSEE shall adhere to other milestones agreed upon by the parties. 

  

	 	3.3	Development Plan and Development Reports. LICENSEE has previously provided RUSH with a Development Plan pursuant to the Prior Agreement in the form attached hereto as APPENDIX A). In addition, within one month
following the end of each quarterly period ending on March 31, June 30, September 30 and December 31 until the date of first commercial sale of Product or Process, LICENSEE will provide RUSH with a written Development
Report (APPENDIX B) summarizing LICENSEE’s product development activities since the last Development Report and any necessary adjustments to the Development Plan. All development activities and strategies and all aspects of product design and
decisions to market and the like are entirely at the discretion of LICENSEE, and LICENSEE shall rely entirely on its own expertise with respect thereto. RUSH’s review of LICENSEE’s Development Plan is solely to verify the existence of
LICENSEE’s commitment to development activity and to assure compliance with LICENSEE’s obligations to utilize the inventions of the Patents, Improvements and Know-how to commercialize Product and/or Process for the marketplace, as set
forth above. 

  

	 	3.4	Record Audit. RUSH reserves the right to audit LICENSEE’s records relating to development of Product and Process as required hereunder. Such record keeping and audit procedures shall be subject to the
procedures and restrictions set forth for audit of the financial records of LICENSEE in Section 6. 

  

	 	3.5	Failure to Perform. LICENSEE’s failure to perform in accordance with any and all portions of Section 3 above shall be grounds for RUSH to terminate this Agreement pursuant to Section 10.

 SECTION 4. PATENTS 
  

	 	4.1	Ownership. RUSH shall retain title to the Patents, Improvements and Know-how. 

  

	 	4.2	Patent Prosecution and Maintenance. RUSH shall file, prosecute, and maintain Patents and Improvements in the United States and in those countries designated by LICENSEE or, alternatively, LICENSEE may maintain
such Patents and/or Improvements on RUSH’s behalf, however, such action by LICENSEE shall not affect ownership of the Patents. 

  

	 	4.3	Reversion of Patent Rights. In the event that LICENSEE elects not to file, prosecute or maintain any patent application or patent within the Patents and/or Improvements or pay any fee related thereto, in any
country, LICENSEE shall promptly notify RUSH of such election, but in no case later than ninety (90) days prior to any required action relating to the filing, prosecution or maintenance of such patent or patent application. From and after the
effective date of such notice, such patent application or patent shall cease to be within the Patents and/or Improvements for all purposes of this Agreement, and all rights and obligations of LICENSEE with respect thereto shall terminate and revert
to RUSH. 

 SECTION 5. PUBLICATION RIGHTS AND USE OF NAMES 
  

	 	5.1	Publication. RUSH reserves the right to publish the results of its research on the Technology. Before publishing, however, RUSH agrees to submit copies of any manuscript proposed for publication to LICENSEE at
least thirty (30) days in advance of the 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 publication date, and if LICENSEE asks to defer publication within thirty (30) days
after receipt of the manuscript so that patent applications may be filed, RUSH shall not publish or otherwise disclose to any Third Party any of the information contained in the manuscript until such time as a patent application has been filed or
the expiration of forty-five ( 45) days from the date of disclosure to LICENSEE, whichever occurs first. 
  

	 	5.2	Use of Names. LICENSEE shall not use RUSH’s name, the name of any author or inventor of Know-how, or of any inventor of inventions governed by this Agreement in sales promotion, advertising, or any other
form of publicity, except as may be required by law, without the prior written approval of the entity or person whose name is being used. 

SECTION 6. PAYMENTS AND ROYALTIES 
  

	 	6.1	Technology/Patent Support Payment. LICENSEE has previously paid to RUSH pursuant to the Prior Agreement an up-front technology/patent support payment totaling thirty thousand dollars ($30,000). 

 

	 	6.2	Future Patent and Legal Fees. LICENSEE agrees to pay RUSH, or take responsibility for, all patent and legal fees, incurred on or after September 11, 2002, associated with the Patents and Improvements for the
United States and foreign filings. These fees will be charged to LICENSEE by invoice reflected the actual amount of such charges without any added administrative fees. Such amounts shall be due and payable within thirty (30) days of receipt.
Any amounts remaining outstanding after thirty (30) days shall accrue interest until paid at the rate of the lesser of one percent (1%) per month or the maximum amount allowed under applicable. 

 

	 	6.3	Royalties. 

  

	 	6.3.1	Earned Royalties. LICENSEE agrees to pay RUSH as “earned royalties”, a royalty calculated as a percentage of Net Sales of Product and/or Process in accordance with the terms and conditions of this
Agreement. Notwithstanding any other provisions of this Agreement, the Net Sales of any Product and/or Process, wherein the Product and/or Process is a Product and/or Process only under Section 1.11(b) and/or Section 1.10(b) respectively,
shall pay only [***] percent ([***]%) of the earned royalty as stated in this Section 6.3.1. The royalty is deemed earned as of the earlier date of the date: (a) the Product is actually sold, leased or otherwise transferred for
consideration; (b) the date the Process (excluding manufacturing processes) is performed; (c) the date an invoice is sent by LICENSEE; or (d) the date a Product is transferred to a Third Party or a Process is performed by a Third
Party for any non-promotional reasons. The royalty shall be equal to: 

  

	 	A.	[***] percent ([***]%) of Net Sales up to the first [***] dollars ($[***]) of Net Sales; and 

  

	 	B.	[***] percent ([***]%) of Net Sales between [***] dollars ($[***]) and up to and including dollars ($[***]) of Net Sales; and 

  

	 	C.	[***] percent ([***]%) of Net Sales greater than [***] dollars (USD$[***]) of Net Sales. 

  

	 	6.3.2	Minimum Annual Royalty. Commencing on January 1 of year three (3) after a Product or Process has received Regulatory Approval and is introduced to market, to the extent that the amounts paid to RUSH as
earned royalties or sublicensing 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 fees do not total the amount set forth hereinafter, LICENSEE shall pay to RUSH a Minimum
Annual Royalty as follows: 
  

	 	A.	In the event Regulatory Approval for the contraceptive product has been obtained, the Minimum Annual Royalty shall be [***] dollars ($[***]). 

 

	 	B.	In the event that Regulatory Approval for the contraceptive product has not been obtained, but Regulatory Approval for the treatment of bacterial vaginosis has been obtained, the Minimum Annual Royalty shall be [***]
dollars ($[***]). However, upon the subsequent approval of a Product or Process for contraceptive use plus the expiration of three years hence; such Minimum Annual Royalty shall revert to the [***] dollars ($[***]) Minimum Annual Royalty described
in Section 6.3.2(A). 

  

	 	C.	The following shall not be deemed to be triggering events for determining when the Minimum Annual Royalty commences: (a) experimental drug sales (if applicable); or (b) approval in the following countries.
Mexico, Russia, India, Brazil or the developing nations of Africa. It is further agreed that the Minimum Annual Royalty shall not apply to a Product or Process sold as a douche or for the treatment of vaginal Itch. 

 

	 	D.	Notwithstanding the foregoing provisions of Section 6.3, in the event LICENSEE must make royalty or other payments to one or more Third Parties in order for LICENSEE to avoid infringement upon the intellectual
property of others, LICENSEE may offset up to fifty percent (50%) of such amounts owing to Third Parties from amounts owing to RUSH hereunder pursuant to Section 6.3 Notwithstanding the preceding sentence, in no event shall the royalties
due to RUSH be so reduced to less than fifty percent (50%) of the amount that would have been otherwise due to RUSH hereunder. 

  

	 	E.	In addition, notwithstanding the foregoing, any withholding of taxes or other taxes levied by tax authorities on payments made by LICENSEE (or any Affiliate of LICENSEE) to RUSH or an Affiliate of LICENSEE to LICENSEE
which payment relates to a corresponding payment to be made by LICENSEE to RUSH pursuant to any of the payment provisions of this Agreement shall be deducted by LICENSEE or the applicable Affiliate of LICENSEE, as the case may be, from any sums
otherwise payable hereunder to RUSH or Licensee, as the case may be, for payment to the proper tax authorities by LICENSEE or its Affiliate, as the case may be on behalf of RUSH. LICENSEE agrees to cooperate, and to cause its Affiliates to
cooperate, with RUSH and to provide RUSH with all written documentation for payment of such taxes in the event that RUSH claims exemption from such withholding or seeks credits or deductions under any double taxation or similar treaty or agreement
from time to time in force, such cooperation to consist of providing receipts of payment of such withheld or other tax or other documents reasonably available to LICENSEE or its Affiliate, as the case may be. 

 

	 	6.3.3	 Sublicensing. LICENSEE (and its Affiliate sublicensees) shall have the right to sublicense the rights
under the Patents, Improvements and Know-How to its Affiliates without the prior approval of RUSH. In addition, upon the prior written approval of RUSH, which approval may not be unreasonably withheld, delayed or conditioned, LICENSEE may sublicense
the rights under the Patents, 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

  

	 	Improvements and Know-how to Third Parties. To the extent a sublicense to a Third Party is approved by RUSH, LICENSEE shall pay to RUSH, in lieu of any royalty payment obligation set forth in Section 6.3.1 or 6.3.2
hereof, [***] percent ([***]%) of any sublicensing revenue received from such Third Party in respect of such sublicense. Such sublicense revenue means any consideration paid to LICENSEE from a Third Party sublicensee of LICENSEE in consideration of
the grant of sublicenses under the rights granted LICENSEE pursuant to this Agreement. Such consideration shall include, but not be limited to, royalty payments, equity investments with respect to amounts in excess of the fair market value of such
equity, milestone payments, up-front or other lump sum payments and payments for research and development services. If LICENSEE receives anything of value in lieu of cash payments in consideration for the sublicense of the Patents, Improvements
and/or Know-how to any Third Party sublicensee, then LICENSEE shall assess a sublicense revenue value on such transaction based on the fair market value of such payment. Revenue as described herein does not include revenue generated from services or
revenues from sales or licensing of products that are not within the scope of the Technology. In the event this Section 6.3.3 becomes operative such that LICENSEE is obligated to pay RUSH a portion of sublicensing fee revenue in lieu of royalty
payments, then, in addition to the sublicensing fee payments contemplated by this Section 6.3.3, LICENSEE shall also make the following payments to RUSH: 

  

	 	A.	At such time as the aggregate Net Sales by the applicable sublicensee(s) are [***] Dollars ($[***]), then within forty-five (45) days after the last day of the calendar quarter in which such aggregate sales
milestone is achieved, LICENSEE shall pay to RUSH [***] Dollars ($[***]); and 

  

	 	B.	At such time as the aggregate Net Sales by the applicable sublicensee(s) are [***] Dollars ($[***]), then within forty-five (45) days after the last day of the calendar quarter in which such aggregate sales
milestone is achieved, LICENSEE shall pay to RUSH [***] Dollars ($[***]). 

  

	 	6.4	Time of Payments. Amounts owing to RUSH shall be paid on a quarterly basis, with such amounts due and paid on or before the thirtieth day following the end of the calendar quarter ending on
March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any amounts owing RUSH which remain unpaid more than thirty (30) days after they are due to RUSH shall accrue
interest until paid at the rate of the lesser of one percent (1%) per month or the maximum amount allowed under applicable law. However, in no event shall this interest provision be construed as a grant of permission for any payment delays.

  

	 	6.5	Currency. Except as otherwise directed, all amounts owing to RUSH under this Agreement shall be paid in U.S. dollars to RUSH at the address provided in Section 6.7. All royalties owing with respect to Net
Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation Value of Foreign Currencies on the day preceding the payment. 

 

	 	6.6	 Accounting. LICENSEE shall within thirty (30) days after the end of each calendar quarter deliver to
RUSH an accounting showing the calculation of royalties and other sums owed to RUSH under this Section 6. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in
APPENDIX C of this Agreement. In the event no payment is owed to RUSH, a statement setting forth that fact shall be supplied to RUSH. In addition, the accounting shall include at least the following: (a) number of Product and Process
commercially used, manufactured and sold, rented or leased; (b) total billings for Product and Process commercially used, sold, rented 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

  

	 	or leased; (c) deductions applicable as provided in Section 1.8; (d) total royalties due; (e) names and addresses of all sublicensees; (f) total sublicensing revenue income; and (g) total
royalties due to RUSH for sublicensee revenue received. 

  

	 	6.7	Place of Payment. All royalty payments and reports shall be sent to: 

 Intellectual
Property Office 
 707 South Wood Street 

Annex Building, Lower Level 

Chicago, Illinois 60612 
 Attn:
Director of Intellectual Property 
  

	 	6.8	Audit. LICENSEE shall keep, for a period of two (2) years prior to the current year, full, true and accurate books of accounts and other records containing all information and data which may be necessary to
ascertain and verify the remuneration payable to RUSH hereunder. During the Term of this Agreement and for a period of two (2) years following its termination, RUSH shall have the right to audit, or have an agent, accountant or other
representative, audit such books, records and supporting data. Such audit shall take place no more frequently than on an annual basis. The cost of such audit shall be paid by RUSH, unless such audit discloses an underpayment of at least ten percent
(10%), wherein such audit shall be paid for by LICENSEE. Any underpayments found by audit shall be paid within thirty (30) days of the conclusion of such audit. 

SECTION 7. INFRINGEMENT 
  

	 	7.1	Infringement Notification. Each party shall promptly report in writing to the other party during the Term of this Agreement any infringement or suspected infringement of any Patent or Improvement or unauthorized
use or misappropriation of its Know-bow of which it becomes aware, and shall provide the other party with all available evidence supporting said infringement, suspected infringement, or unauthorized use or misappropriation. 

 

	 	7.2	Infringement Suit by LICENSEE. Except as provided in Section 7.3, LICENSEE shall have the right to initiate an infringement suit or other appropriate action against any Third Party who at any time has
infringed or is suspected of infringing any of the Patents or Improvements, or of using without proper authorization all or any portion of the Know-how. LICENSEE shall give RUSH sufficient advance written notice of its intent to initiate such action
and the reasons therefore, and shall provide RUSH with an opportunity to make suggestions and comments regarding such action. LICENSEE shall keep RUSH promptly informed of the status of any such action. LICENSEE shall have the sole and exclusive
right to select counsel for and shall pay all expenses of such action. RUSH shall offer reasonable assistance to LICENSEE in connection therewith at no charge to LICENSEE except for reimbursement of reasonable out-of-pocket expenses. LICENSEE may
settle any such action subject to prior written approval of RUSH. Any damages, profits or awards of whatever nature recovered from such action shall be treated as Net Sales under this Agreement after LICENSEE has and RUSH have been compensated for
all of their costs in handling such action. 

  

	 	7.3	Infringement Suit by RUSH. In the event that LICENSEE does not within six (6) months: (a) secure cessation of the infringement, (b) enter suit against the infringer, or (c) provide RUSH with
evidence of the pendency of a bona fide negotiation for the acceptance by the infringer of a sublicensee under the Patents, Improvements or the Know-how, RUSH shall thereafter have the right but not the obligation to take action against the
infringer at RUSH’s own expense. LICENSEE shall offer reasonable assistance to RUSH in connection with such action at no charge to RUSH except for the reimbursement of reasonable out-of- 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

  

	 	pocket expenses. Any damages, profits or awards of whatever nature recovered from such action shall belong solely to RUSH. 

SECTION 8. REPRESENTATIONS AND WARRANTIES 
  

	 	8.1	RUSH Representations. RUSH hereby represents and warrants to LICENSEE that: 

  

	 	8.1.1	Authority. RUSH has the full right, power and authority, and has obtained all approvals, permits or consents necessary, to enter into this Agreement and to perform all of their obligations hereunder and to grant
the licenses provided hereunder; 

  

	 	8.1.2	No Prior Agreement. RUSH has not, prior to the Effective Date, entered into and shall not, following the Effective Date, enter into any agreement and has not granted any now existing, or agreed to grant any
future, license, right or privilege which agreement, license, right or privilege conflicts many way with this Agreement or RUSH’s obligations hereunder; 

  

	 	8.1.3	Ownership. RUSH is the sole and exclusive owner of the Patents, Improvements and the Know-how, free and clear of any liens or encumbrances; 

 

	 	8.1.4	Validity. To the best of RUSH’s knowledge and belief, the RUSH Patent Rights and the RUSH Know-how are valid and enforceable; 

 

	 	8.1.5	Noninfringement. To the best of RUSH’s knowledge and belief, the making, using, distributing, selling, offering for sale, importing or exporting of Products in the Territory does not and shall not infringe
or otherwise conflict with any intellectual property rights or other rights of RUSH or its Affiliates that are not licensed hereunder; 

  

	 	8.1.6	Third Party Claims. To the best of RUSH’s knowledge and belief, no claims of infringement, misappropriation or other conflict with any intellectual property rights or other rights owned or controlled by any
Third Party have been made or threatened with respect to the Patents, RUSH Know-how or Products; 

  

	 	8.1.7	Misappropriation. To the best of RUSH’s knowledge and belief, RUSH is not aware of any infringement or misappropriation of the Patents or Know-how by any Third Party; 

 

	 	8.1.8	Sale. To the best of RUSH’s knowledge and belief, the making, using, selling, offering for sale, import and export of Products containing the Product as described in the Patent or within the scope of the
Know-how in the Territory does not and shall not infringe otherwise conflict with any intellectual property rights or other rights of any Third Party by reason thereof; and 

 

	 	8.1.9	No Omission. RUSH has not, up through and including the Effective Date, omitted to furnish LICENSEE with any information in its control or possession or of which it is aware, concerning (a) the Patent,
(b) the Know-how, (c) the Product, or (d) the activities contemplated by this Agreement, which would be material to LICENSEE’s decision to enter into this Agreement and to undertake the commitments and obligations set forth
herein. 

  

	 	8.2	LICENSEE Representations. LICENSEE hereby represents and warrants the following to RUSH: 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

  

	 	8.2.1	Authority. LICENSEE has the full right, power and authority, and have obtained all approvals, permits or consents necessary, to enter into this Agreement and to perform all of their obligations hereunder and to
grant the licenses provided hereunder, and 

  

	 	8.2.2	No Prior Agreement. LICENSEE has not, prior to the Effective Date, entered into and shall not, following the Effective Date, enter into any agreement that conflicts in any way with this Agreement or
LICENSEE’s obligations hereunder. 

  

	 	8.2.3	Expertise. LICENSEE agrees to and warrants that it has, or will obtain, the expertise necessary to independently evaluate the inventions of the Patents, Improvements and Know-how and to develop Product and/or
Process for sale in the commercial market. 

  

	 	8.3	No Warranties. Nothing in this Agreement shall be construed as; 

  

	 	8.3.1	Validity. A warranty or representation by RUSH as to the validity or scope of any Patent or Improvement; 

  

	 	8.3.2	Noninfringement. A warranty or representation that anything made, used, sold or otherwise disposed of under any license granted in this Agreement is or will be free from infringement of patents, copyrights and/or
trademarks of Third Parties; 

  

	 	8.3.3	Suit. An obligation of RUSH to bring or prosecute actions or suits against Third Parties for infringement; 

  

	 	8.3.4	Publicity. Conferring rights to use in advertising, publicity or otherwise any trademark or the name of RUSH; 

  

	 	8.3.5	Implied License. Granting by implication, estoppel or otherwise any licenses under patents of RUSH other than Patents and Improvements, regardless of whether such other patents are dominant of or subordinate to
any Patent. 

  

	 	8.4	Disclaimer. Except as expressly set forth in this Agreement, RUSH MAKES NO REPRESENTATIONS, EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, AND ASSUMES NO RESPONSIBILITIES WHATEVER WITH RESPECT TO
THE USE, SALE OR OTHER DISPOSITION BY LICENSEE OR ITS VENDEES OR OTHER TRANSFEREES OF PRODUCTS OR PROCESSES INCORPORATING OR MADE BY USE OF INVENTIONS LICENSED UNDER THIS AGREEMENT OR INFORMATION, IF ANY, FURNISHED UNDER THIS AGREEMENT SUCH
INVENTIONS AND INFORMATION ARE PROVIDED AS IS, WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESS OR IMPLIED. 

SECTION 9. NOTICES 
 Any notice required
to be given pursuant to the provisions of this Agreement shall be in writing and shall be deemed to have been given at the earlier of the time when actually received as a consequence of any effective method of delivery, including but not limited to
hand delivery, or delivery by a professional courier service, or the time when sent by certified or registered mail addressed to the party for whom intended at the address below. Either party may change the address(es) given below, or as stated in
Section 6.7, at any time by providing the other party with written notice in accordance with this Section at the address for the other party specified below, or as subsequently modified. Any notice of change of address shall be effective only
upon actual receipt. 
 Communications to LICENSEE concerning this Agreement should be addressed to: 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 Evofem, Inc. 

Attn: Chief Executive Officer 

8910 University Center Lane, Suite 120 

San Diego, California 92122 

With a copy to: 
 K&L
Gates LLP 
 Attn: Adam C. Lenain, Esq. 

3580 Carmel Mountain Road, Suite 200 

San Diego, California, 92130-6768 

Communications to RUSH concerning this Agreement should be addressed to: 

Intellectual Property Office 

707 South Wood Street 
 Annex
Building, Lower Level 
 Chicago, Illinois 60612 

Attn: Director of Intellectual Property 

With a copy to: 
 Rush
University Medical Center 
 Attn: General Counsel 

1700 West Van Buren Street, Suite 301 

Chicago, Illinois 60612-2734 
 SECTION 10.
TERM AND TERMINATION 
  

	 	10.1	Term. Unless terminated earlier pursuant to this Section 10, the term of this Agreement shall commence on the Effective Date and continue in full force and effect until expiration, revocation or invalidation
of the last patent or the abandonment of the last patent application within the Patents, and Improvements, whichever is later. 

  

	 	10.2	Termination. This Agreement may be terminated: (a) upon mutual written consent of both parties; or (b) by the non-breaching party if a party commits a breach or default of any covenant contained in this
Agreement, and such breach or default is not cured within thirty (30) days after written notice of such breach or default has been delivered to the breaching/defaulting party. 

 

	 	10.3	Termination by RUSH. Subject to Section 10.4, in the event LICENSEE shall be in default of any of its obligations hereunder which default has not been cured within the period set forth below, RUSH may at its
sole option: (a) terminate this Agreement, or (b) convert the exclusive license hereunder to a non-exclusive license, subject to the rights of any sublicensee under any pre-approved sublicense agreement then in effect as contemplated by
Section 10.4. For the avoidance of doubt, to the extent LICENSEE has granted an exclusive license in any territory to any sublicensee which sublicense agreement was approved in advance by RUSH in accordance with Section 6.3.3 hereof, then
RUSH shall not have the right to grant to any other Third Party any such sublicensed rights in such territory notwithstanding the conversion of this license to a non-exclusive license pursuant to this Section 10.3. This option (a) or
(b) shall be exercised by written notice to LICENSEE specifying the nature of the default including the amount of royalties then due, if any, and shall be effective thirty (30) days following receipt of said notice by LICENSEE unless
LICENSEE cures said default prior to the expiration of said period of thirty (30) days. 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

  

	 	10.4	Sublicensee Termination. Termination of this Agreement or conversion to a non-exclusive license as provided under Section 10.3 shall give RUSH the right to terminate all sublicenses which may have been
granted by LICENSEE or an Affiliate of LICENSEE to any Third Party and that were not approved by RUSH prior to the execution of such sublicense agreement as set forth under Section 6.3.3. RUSH may terminate any such non-approved sublicense
agreement by giving sublicensee written notice of such termination. If RUSH declines to terminate such sublicense agreement, or such sublicense was approved by RUSH in accordance with Section 6.3.3, then: (a) in the case of a termination
of this Agreement, such sublicense agreement shall automatically transfer to RUSH such that all obligations of LICENSEE under any such sublicense shall be assumed by RUSH and all obligations by the sublicensee to LICENSEE shall transfer to RUSH such
that each such sublicense agreement shall become a direct agreement between RUSH and such sublicensee, and (b) in the case of a conversion of this Agreement to a non-exclusive license, such sublicense agreement shall continue in full force and
effect in accordance with its terms. Any sublicense granted by LICENSEE shall contain a provision corresponding to this Section 10.4. 

  

	 	10.5	Survival Upon Conversion. Upon conversion to a non-exclusive license as provided under Sections 10.3, neither party, shall be relieved of any obligations incurred prior to such termination or conversion, and the
obligations of the parties under any provisions which by their nature are intended to survive any such termination or conversion shall survive and continue to be enforceable. 

 

	 	10.6	Termination For Non-exploitation. RUSH may terminate this Agreement in its entirety with thirty (30) days notice to LICENSEE if aggregate royalties paid in any calendar year following the third anniversary
of the Effective Date do not equal a minimum of fifty thousand dollars ($50,000). If aggregate royalties in such years do not equal fifty thousand dollars ($50,000), LICENSEE shall have the option of paying the difference between royalties actually
paid and fifty thousand dollars ($50,000) each year to continue this Agreement for two years beyond the third anniversary of the Effective Date. 

  

	 	10.7	Termination For Non-exploitation Within A Country. RUSH may individually terminate LICENSEE’s rights to the Patents, Improvements and/or Know-how for each country in the Territory, upon sixty (60) days
notice, if within five (5) years of the Effective Date, LICENSEE has not, for such country, engaged in any of the following: 

  

	 	10.7.1	Made significant efforts to contact appropriate governmental officials to pursue registration of the Product and/or Process; 

  

	 	10.7.2	Initiated process for registration or bringing Product and/or Process into the country; 

  

	 	10.7.3	Initiated process for establishing a sales channel within such country; 

  

	 	10.7.4	Made significant efforts to contact suitable business partners for such country; or 

  

	 	10.7.5	proceeded in ways to promote the business and Product and/or Process in the country. Such promotion can include either direct promotion or promotion through a third party, including, but not limited to, Product and/or
Process promotion (samples), support product education, advertising, seeking governmental support and financial aid, and/or continuously seeking to improve business relations with local businesses. 

 

	 	10.8	Survival. Sections 1, 4.1, 4.2, 6.6, 6.8, 9, 10.3, 10.4, 11 and 15 shall survive the expiration and/or termination of this Agreement. Except as otherwise stated in this Section 10.8, all 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

  

	 	rights and obligations of the parties under this Agreement shall terminate upon expiration or termination of this Agreement. 

SECTION 11. INDEMNIFICATION 
  

	 	11.1	Indemnification. LICENSEE shall defend, indemnify and hold harmless RUSH, its employees, officers, trustees, agents, and inventors of the Patents, Improvements and Know-how, and their successors and assigns (each
a “RUSH Indemnitee”), from and against any and all liabilities, damages, settlements, penalties, fines, costs or expenses (including, without limitation, reasonable attorneys’ fees and other expenses of litigation), arising out of any
claim, complaint, suit, proceeding or cause of action brought against a RUSH Indemnitee by a Third Party (any of the foregoing, a “Claim”) alleging damage arising from or occurring as a result of the activities performed by or under
authority of LICENSEE, its Affiliates or sublicensees in connection with the exercise of its licenses and rights hereunder, except to the extent caused by the negligence or willful misconduct of RUSH. LICENSEE shall not enter into any settlement or
utilize any strategy that admits or implies any fault or liability on the part of RUSH Indemnities without the prior written consent of RUSH. RUSH at all times reserves the right to select and retain counsel of its own to defend RUSH’s
interests with respect to such Claim. 

  

	 	11.2	Liability Insurance. LICENSEE warrants that it shall maintain and will continue to maintain liability insurance coverage in the amount of $5 million dollars upon the approval and first commercial sale of a
Product and/or Process and that such insurance coverage lists RUSH and the inventors of the Patents, Improvements and Know-how as additional insureds. Within ninety (90) days after such first commercial sale of an approved Product and/or
Process and thereafter annually between January 1 and January 31 of each year, LICENSEE will present evidence to RUSH that the coverage is being maintained with RUSH and its inventors listed as additional insureds. In addition, LICENSEE
shall provide RUSH with at least thirty (30) clays prior written notice of any change in or cancellation of the insurance coverage. 

SECTION 12. UNITED STATES GOVERNMENT INTERESTS 

It is understood that if the United States Government (through any of its agencies or otherwise) has funded research, during the course of or
under which any of the inventions of the Patents or Improvements were conceived or made, the United States Government is entitled, as a right, under the provisions of 35 U.S.C. §§ 200-212 and applicable regulations of Chapter 37 of the
Code of Federal Regulations, to a nonexclusive, nontransferable, irrevocable, paid-up license to practice or have practiced the invention of such Patents or Improvements for governmental purposes. Any license granted to LICENSEE in this Agreement
shall be subject to such right. 
 SECTION 13. PATENT MARKING 

LICENSEE shall mark all Product packaging with the appropriate patent number reference in compliance with the requirements of U.S. law, 35 U.S
C. § 287. LICENSEE will further comply with any relevant patent marking regulations, laws, ordinances and/or statutes of any other country in which Product is sold, in conformance with requirements of such country. 

SECTION 14. INTEGRATION 

This Agreement constitutes the full understanding between the parties with reference to the subject matter hereof, and no statements or
agreements by or between the parties, whether orally or in writing, except as provided for elsewhere in this Section 14, made prior to or at the signing hereof, shall vary or modify the written terms of this Agreement. Neither party shall claim
any amendment, modification, or release from any provisions of this Agreement by mutual agreement, acknowledgment, or otherwise, unless 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 such mutual agreement is in writing, signed by both parties, and specifically states that it is an amendment
to this Agreement. 
 SECTION 15. CONFIDENTIALITY 

Both parties agree to keep any information identified as confidential by the disclosing party confidential using methods at least as stringent
as each party uses to protect its own confidential information. “Confidential Information” shall include LICENSEE’s Development Plan and Development Reports, the Know-how, Patents and Improvements and all information concerning them
and any other information exchanged between the parties which is either (a) marked confidential, (b) accompanied by correspondence indicating such information is confidential; or (c) orally disclosed and confirmed in writing as
confidential within forty-five (45) days. Except as may be authorized in advance in writing by RUSH, LICENSEE shall grant access to the Confidential Information only to its own employees involved in research relating to the Know-how, Patents
and Improvements and LICENSEE shall require such employees to be bound by this Agreement as well. The confidentiality and use obligations set forth above apply to all or any part of the Confidential Information disclosed hereunder except to the
extent that (a) either party can show by written record that it possessed the information prior to its receipt from the other party; (b) the information was already available to the public or became so through no fault of the receiving
party; (c) the information is subsequently disclosed to receiving party by a Third Party that has the right to disclose it free of any obligations of confidentiality; (d) the information was independently developed by the receiving party
without reliance on the Confidential Information of the disclosing party; or (e) the information is required to be disclosed to by court order or by law. 

SECTION 16. MISCELLANEOUS 
  

	 	16.1	Sublicenses. In the event that LICENSEE shall grant sublicenses to Third-Parties, each such sublicense shall be embodied in a written document and copied unabridged to RUSH at the time of its grant, and all
relevant term shall apply to each such sublicensee to the same extent as they apply to LICENSEE. 

  

	 	16.2	Assignment. Neither this Agreement nor any of the rights or obligations hereunder may be assigned by either party without the prior written consent of the other party, and such consent shall not be unreasonably
withheld. Notwithstanding the foregoing, LICENSEE may perform this Agreement, either in whole or in part through an Affiliate, and may assign or transfer its rights and obligations under this Agreement to its Affiliates or to an entity that succeeds
to all or substantially all of LICENSEE’s business or assets whether by sale, merger, operation of law or otherwise. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective
successors and permitted assignees. 

  

	 	16.3	Export Restrictions. It is understood that RUSH is subject to United States laws and regulations controlling the export of technical data, computer software, laboratory prototypes and other commodities, and that
its obligations hereunder are contingent on compliance with all applicable United States export laws and regulations. The transfer of certain technical data and/or commodities may require a license from the cognizant agency of the United States
Government and/or written assurances by LICENSEE that LICENSEE shall not export data or commodities to certain foreign countries without prior approval of such agency. RUSH neither represents nor warrants that a license shall not be required nor
that, if required, it shall be issued. In any event, LICENSEE specifically agrees not to export or re-export any information and/or technical data and/or products in violation of any applicable USA laws and/or regulations. 

 

	 	16.4	 Applicable Law. This Agreement shall be construed under and interpreted under the Laws of the State of
Illinois, USA, except that questions affecting the construction and effect of any Patent shall be determined by the national law of the country in which the Patent has been granted. All disputes arising out of or related to this Agreement will be
subject to the 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

  

	 	exclusive jurisdiction of the Illinois State Courts of Cook County, Illinois (or, if there is federal jurisdiction, the United States District Court for the Northern District of Illinois) and the parties consent to the
personal and exclusive jurisdiction of these courts. 

  

	 	16.5	Force Majeure. In the event that either party is prevented from performing or is unable to perform any of its obligations under this Agreement due to any act of God, fire, casualty, flood, war, strike, lockout,
failure of public utilities, government regulation or the like, such party shall give notice to the other party in writing promptly, and thereupon the affected party’s performance shall be excused and the time for performance shall be extended
for the period of delay or inability to perform due to such occurrence. 

  

	 	16.6	Waiver. The waiver by either party of a breach or default of any provision of this Agreement by the other party shall not be construed as a waiver of any succeeding breach of the same or any other provision.

  

	 	16.7	Amendments. Changes and additional provisions to this Agreement shall be binding on the parties only if mutually agreed upon, laid down in writing and signed effectively by the parties. This Agreement may be used
as a basis for further agreements between LICENSEE and RUSH for the development, manufacture and/or supply of additional products. 

  

	 	16.8	Severability. The parties do not intend to violate any public policy or statutory common law. However, if any sentence, paragraph, clause or combination of this Agreement is in violation of any law or is found to
be otherwise unenforceable, such sentence, paragraph, clause or combination of the same shall be deleted and the remainder of this Agreement shall remain binding, provided that such deletion does not alter the basic structure of this Agreement.

  

	 	16.9	Counterparts. This Agreement may be executed in counterparts, each of which together shall constitute one and the same Agreement. 

 

	 	16.10	Entire Agreement. This Agreement contains the full understanding of the parties with respect to the subject matter hereof and supersedes all prior understandings and writings relating thereto, including, without
limitation, the Prior Agreement. 

  

	 	16.11	Independent Contractors. The relationship of the parties established by this Agreement is that of independent contractors. Nothing in this Agreement shall be construed to create any other relationship between
RUSH and LICENSEE. Neither patty shall have any right, power or authority to assume, create or incur any expense, liability or obligation, express or implied, on behalf of the other parties. 

 

	 	16.12	Headings. Headings included herein are for convenience only, do not form a part of this Agreement and shall not be used in any way to construe or interpret this Agreement. 

SECTION 17. AUTHORITY 

The persons signing on behalf of RUSH and LICENSEE hereby warrant and represent that they have authority to execute this Agreement on behalf of
the party for whom they have signed. 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

IN WITNESS WHEREOF, the patties hereto have caused this Agreement to be executed by their properly and duly authorized officers or
representatives as of the date first above written. 
  

							
		 	 RUSH UNIVERSITY
 MEDICAL
CENTER
	 		 	EVOFEM, INC.
				
	By:	 	 /s/ Anne Murphy
	 	By:	 	 /s/ Saundra Pelletier

	Name:	 	Anne Murphy	 	Name:	 	Saundra Pelletier
	Title:	 	SVP & General Counsel	 	Title:	 	Chief Executive Officer
				
	Date:	 	March 27, 2014	 	Date:	 	March 27th, 2014

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 APPENDIX A 

DEVELOPMENT PLAN 

A development plan of the scope outlined below shall be submitted to RUSH by LICENSEE upon execution of this Agreement. In general, the plan
should provide RUSH with a summary overview of the activities that LICENSEE believes are necessary to make Product available for sale in the commercial marketplace. 
  

			
	Estimated	  	Estimated
	Start Date	  	Finish Date

  

	1.	Development Program. 

  

	 	A.	Development Activities to be Undertaken 

 (Please break activities into subunits with the date of completion of
major milestones.) 
  

	 	(i)	

  

	 	(ii)	

  

	 	B.	Estimated Total Development Time. 

  

	2.	Governmental Approval. 

  

	 	A.	Types of submissions required. 

  

	 	B.	Government agency e.g. FDA, EPA, etc. 

  

	3.	Proposed Market Approach. 

  

	4.	Competitive Information. 

  

	 	A.	Potential Competitors. 

  

	 	B.	Potential Competitive Devices/Compositions. 

  

	 	C.	Known Competitor’s plans, developments, technical achievements. 

  

	 	D.	Anticipated Date of Product Launch. 

 Total Length: approximately 2-3 pages. 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 APPENDIX B 

DEVELOPMENT REPORT 

1.        Date development plan initiated and time period covered by this report. 

2         Development Report (4~8 paragraphs). 

A.        Activities completed since last report including the object and parameters of the development, when
initiated, when completed and the results. 
 B.        Activities currently under investigation, i.e., ongoing
activities including object and parameters of such activities, when initiated, and projected date of completion. 

3.        Future Development Activities (4-8 paragraphs). 

A.        Activities to be undertaken before next report including, but not limited to, the type and object of any
studies conducted and their projected starting and completion dates. 
 B.        Estimated total development time
remaining before a product will be commercialized. 
 4.        Changes to initial development plan (2-4 paragraphs)

 A.        Reasons for change. 

B.        Variables that may cause additional changes. 

5.        Items to be provided if applicable: 

A.        Information relating to Product that has become publicly available, e.g., published articles, competing
products, patents, etc. 
 B.        Development work being performed by third parties other than LICENSEE to
include name of third party, reasons for use of third party, planned future uses of third parties including reasons why and type of work. 

C.        Update of competitive information trends in industry, government compliance (if applicable) and market plan.

 PLEASE SEND DEVELOPMENT REPORTS TO: 
 Intellectual
Property Office 
 707 South Wood Street 
 Annex Building, Lower
Level 
 Chicago, Illinois 60612 
 Attn: Director of
Intellectual Property 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 APPENDIX C 

RUSH ROYALTY REPORT 
  

					
	Licensee:                                    
                                         
                            	 		  	Agreement
No.:                                        
                                         
      
	Inventor:                                    
                                         
                             	 		  	P#:                                     
                                         
                                 
	Period Covered: From:                         
/                          /             
            	 		  	Through:                                
/                                /       
                         
	Prepared
By:                                        
                                         
                  	 		  	Date:                                     
                                         
                              
	Approved
By:                                        
                                         
               	 		  	Date:                                     
                                         
                              

 If license covers several major product lines, please prepare separate report for each line. Then combine all
product lines into a summary report. 
  

			
	Report Type:	  	☐    Single Product Line
Report:                                        

		  	☐    Multi-Product Summary Report. Page 1 of                 Pages
		  	☐    Product Line Detail. Line                  Trade name:
                 Page                 
	Report Currency:	  	☐    U.S. Dollars             ☐
Other                                        
    

  

													
	 	  	 	  	 	  	 	  	 	  	Period Royalty Amount
	 Country
	  	Gross Sales	  	*Less:
Allowances	  	Net Sales	  	Royalty Rate	  	This year	  	This year
	U.S.A.	  		  		  		  		  		  	
	Canada	  		  		  		  		  		  	
	Europe	  		  		  		  		  		  	
	Japan	  		  		  		  		  		  	
		  		  		  		  		  		  	
	Other	  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
	TOTAL:	  		  		  		  		  		  	

  

	
	 Total Royalty:
                     Conversion Rate:
                    _ Royalty in U.S. Dollars
$                     
  

	 * On a separate page, please indicate the reasons for
returns or other adjustments if significant.
 Also note any unusual occurrences that affected royalty amounts during this period.

To assist RUSH’s forecasting, please comment on any significant expected trends in sales volume.

 To assist RUSH’s forecasting, please comment on any significant expected trends in sales volume. 

  
 Portions of
this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with 
 the Secretary of the
Commission pursuant to the Registrant’s application requesting confidential 
 treatment pursuant to Rule 406 of the
Securities Act of 1933, as amended.

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