Document:

life-ex101_278.htm

Exhibit 10.1

SECOND AMENDMENT TO LEASE

THIS SECOND AMENDMENT TO LEASE (this “Amendment”) is entered into as of this 27th day of April, 2017 (the “Second Amendment Execution Date”), by and between BMR-3545-3575 JOHN HOPKINS LP, a Delaware limited partnership (“Landlord,” as successor-in-interest to BMR-John Hopkins Court LLC), and ATYR PHARMA, INC., a Delaware corporation (“Tenant”). 

RECITALS

A.WHEREAS, Landlord and Tenant are parties to that certain Lease dated as of December 22, 2011, as amended by that certain First Amendment to Lease dated as of January 4, 2017 (the “First Amendment”) (collectively, and as the same may have been further amended, amended and restated, supplemented or modified from time to time, the “Existing Lease”), whereby Tenant leases certain premises (the “Existing Premises”) from Landlord at 3545-3575 John Hopkins Court in San Diego, California (the “Building”);

B.WHEREAS, Tenant has exercised its Expansion Option and Landlord and Tenant desire to enter into the Expansion Amendment to memorialize the terms and conditions of Tenant’s lease of the Expansion Space (as such capitalized terms are defined in Article 6 of the First Amendment); and

C.WHEREAS, Landlord and Tenant desire to modify and amend the Existing Lease only in the respects and on the conditions hereinafter stated.

AGREEMENT

NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, agree as follows:

1.Definitions.  For purposes of this Amendment, capitalized terms shall have the meanings ascribed to them in the Existing Lease unless otherwise defined herein.  The Existing Lease, as amended by this Amendment, is referred to collectively herein as the “Lease.” From and after the date hereof, the term “Lease,” as used in the Existing Lease, shall mean the Existing Lease, as amended by this Amendment.

2.Expansion Space.  Effective as of the Expansion Space Commencement Date (as defined below), Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, that certain space containing approximately seven thousand four hundred eleven (7,411) square feet of Rentable Area located on the first (1st) floor of the Building (as more particularly described on Exhibit A attached hereto, the “Expansion Space”).  From and after the Expansion Space Commencement Date, the term “Premises” as used in the Lease shall mean the Existing Premises plus the Expansion Space.

BioMed Realty form dated 3/27/15

2.1Expansion Space Term.  The Term with respect to the Expansion Space shall commence on the date (the “Expansion Space Commencement Date”) that is the later of (a) July 1, 2017 and (b) the day immediately following the day that Regulus (as defined below) surrenders the Expansion Space to Landlord in accordance with all of the terms, conditions and provisions of the Regulus Lease (as defined below), and the Term with respect to the Expansion Space shall thereafter be coterminous with the Term for the Existing Premises, such that the Term with respect to the Existing Premises and the Expansion Space shall expire on the Term Expiration Date (as defined in Article 2 of the First Amendment).  

2.2Regulus Lease.  Tenant acknowledges that the Expansion Space is currently leased to Regulus Therapeutics Inc. (“Regulus”) pursuant to a lease by and between Regulus and Landlord (the “Regulus Lease”), and that the Regulus Lease is currently scheduled to expire on June 30, 2017 with respect to the Expansion Space.  Tenant agrees that in the event Regulus fails to surrender the Expansion Space to Landlord in accordance with the terms, conditions and provisions of the Regulus Lease on or before June 30, 2017 for any reason, then (a) this Amendment shall not be void or voidable, (b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and (c) Tenant shall not be responsible for the payment of Base Rent or Tenant’s Share of Operating Expenses, in each case with respect to the Expansion Space only, until the actual Expansion Space Commencement Date occurs.

2.3Condition of Expansion Space.  Tenant acknowledges that (a) it is fully familiar with the condition of the Expansion Space and, notwithstanding anything to the contrary in the Lease, agrees to take the same in its condition “as is” as of the Expansion Space Commencement Date, (b) neither Landlord nor any agent of Landlord has made (and neither Landlord nor any agent of Landlord hereby makes) any representation or warranty of any kind whatsoever, express or implied, regarding the Expansion Space, including (without limitation) any representation or warranty with respect to the condition of the Expansion Space or with respect to the suitability of the Expansion Space for the conduct of Tenant’s business and (c) Landlord shall have no obligation to alter, repair or otherwise prepare the Expansion Space for Tenant’s occupancy or to pay for any improvements to the Expansion Space.  The Expansion Space has not undergone inspection by a Certified Access Specialist (as defined in California Civil Code Section 55.52).  Tenant’s taking possession of the Expansion Space shall, except as otherwise agreed to in writing by Landlord and Tenant, conclusively establish that the Expansion Space were at such time in good, sanitary and satisfactory condition and repair.

3.Base Rent.  Notwithstanding anything to the contrary in the Existing Lease, commencing as of the Expansion Space Commencement Date and continuing throughout the remainder of the Term, Base Rent for the Premises shall be as set forth in the following table: 

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Dates
	
Square Feet of Rentable Area
	
Base Rent per Square Foot of Rentable Area
	
Monthly Base Rent
	
Annual Base Rent

	
Expansion Space Commencement Date – 

May 15, 2018
	
24,494
	
$3.70 monthly
	
$90,627.80
	
$1,087,533.60

	
May 16, 2018 – May 15, 2019
	
24,494
	
$3.81 monthly
	
$93,322.14
	
$1,119,865.68

 

4.Tenant’s Pro Rata Share.  From and after the Expansion Space Commencement Date, Tenant’s Pro Rata Share shall equal 33.93%.

 

5.Security Deposit.  On or before the Second Amendment Execution Date, Tenant shall deposit with Landlord an amount equal to Twenty-Eight Thousand Two Hundred Thirty-Five and 91/100 Dollars ($28,235.91) as an additional Security Deposit under the Lease.  From and after the Second Amendment Execution Date, the required Security Deposit under the Lease shall be an amount equal to Seventy-Nine Thousand Four Hundred Eighty-Four and 91/100 Dollars ($79,484.91).

 

6.Non-Exclusive License to Use IT Space.  

6.1Landlord hereby grants to Tenant, and Tenant hereby accepts and assumes from Landlord, a non-exclusive license (an “IT Space License”) to use the additional space in the Common Area on the first (1st) floor of the Building in the location depicted on Exhibit B attached hereto (the “IT Space”), solely for the purposes of installing, operating, maintaining, replacing, altering and removing information technology equipment, including but not limited to computer and telecommunications equipment (collectively, “IT Equipment”), in conformity with all Applicable Laws (the “IT Space Use”).  

6.2The IT Space License shall be non-exclusive.  Landlord reserves the right at any time to grant an IT Space License of the IT Space to any other tenant that leases space on the first (1st) floor of the Building (any such tenant, an “Additional Tenant”).  In the event that Landlord grants an IT Space License to any Additional Tenant, Tenant shall use commercially reasonable efforts to avoid and remedy, and shall be solely responsible and liable for, any damage to or interference with such Additional Tenant’s IT Equipment caused by or arising from the actions of Tenant or any of its employees, contractors, subcontractors or agents.   

6.3The term with respect to the IT Space License (the “IT Space License Term”) shall commence on the Expansion Space Commencement Date and shall expire on the Term Expiration Date (as defined in Article 2 of the First Amendment).  

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6.4During the IT Space License Term, the IT Space Use shall be a Permitted Use under the Lease, provided that Tenant’s IT Space Use and surrender of the IT Space shall be subject to all of the same rights of Landlord and duties, obligations, covenants, conditions and liabilities of Tenant set forth in the Lease with respect to Tenant’s use, occupancy and surrender of the Premises, and any violation or breach by Tenant of such duties, obligations, covenants, conditions and liabilities with respect to the IT Space shall be a Default under the Lease to the same extent that a violation by Tenant of such duties, obligations, covenants, conditions and liabilities with respect to the Premises would be a Default under the Lease.  

6.5The IT Space License shall be appurtenant to the Lease and may not be separately Transferred to any other person or entity without Landlord’s prior written consent in its sole discretion, and any such purported separate Transfer of the IT Space License shall be null and void.

6.6Tenant shall install or alter Tenant’s IT Equipment at its sole cost and expense, at such times and in such manner as Landlord may reasonably designate, in accordance with this Amendment and the applicable provisions of the Lease regarding Alterations.  Tenant’s installation or alteration of Tenant’s IT Equipment shall be subject to Landlord’s prior written approval, which approval shall not be unreasonably withheld.  Landlord may withhold approval if the installation, operation or alteration of Tenant’s IT Equipment could reasonably be expected to affect the structural integrity of the Building, the exterior of the Building or any Building systems or transmit vibrations or noise or cause other adverse effects to an extent not customary in first class laboratory buildings, unless Tenant implements measures that are acceptable to Landlord in its reasonable discretion.  Either Landlord or Tenant may request, by delivery of written notice thereof, the installation of additional HVAC equipment in connection with Tenant’s IT Space Use, and upon delivery of such written notice, Landlord shall cause such additional HVAC equipment to be installed at Tenant’s sole cost and expense.  Landlord shall invoice Tenant for the cost of such work, and Tenant shall pay such costs as Additional Rent within ten (10) days after receipt of such invoice.  

6.7Upon the expiration or earlier termination of the IT Space License Term, Tenant shall surrender the IT Space in the condition in which Tenant is required to surrender the Premises under the Lease.  Without limiting the generality of the foregoing, upon the expiration or earlier termination of the IT Space License Term, Tenant shall remove its IT Equipment from the IT Space, unless Landlord elects otherwise by delivery of written notice to Tenant, and Tenant shall repair any damage to the IT Space caused by Tenant’s removal of the IT Equipment from the IT Space.

6.8Tenant acknowledges and agrees that (a) Tenant has had sufficient opportunity to inspect the IT Space and is fully familiar with the condition of the IT Space, and, notwithstanding anything contained in the Lease to the contrary, Tenant agrees to take the IT Space in its condition “as is” as of the first day of the IT Space License Term, (b) Landlord has not made and does not make any representation or warranty of any kind, express or implied, with respect to the IT Space, including but not limited to any representation or warranty that the IT Space is suitable for the IT Space Use, and (c) Landlord shall have no obligation to alter, repair or otherwise prepare the IT Space for Tenant’s IT Space Use or to pay for any improvements to or alterations of the IT Space.

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7.Broker. Tenant represents and warrants that it has not dealt with any broker or agent in the negotiation for or the obtaining of this Amendment, other than Hughes Marino (“Tenant Broker”) and Jones Lang LaSalle (“Landlord Broker”), and agrees to reimburse, indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord, at Tenant’s sole cost and expense) and hold harmless the Landlord Indemnitees for, from and against any and all cost or liability for compensation claimed by any such broker or agent, other than Tenant Broker and Landlord Broker, employed or engaged by it or claiming to have been employed or engaged by it.  Each of Tenant Broker and Landlord Broker are entitled to a leasing commission in connection with the making of this Amendment, and Landlord shall pay such commissions pursuant to separate agreements.

 

8.No Default.  Tenant represents, warrants and covenants that, to the best of Tenant’s knowledge, Landlord and Tenant are not in default of any of their respective obligations under the Existing Lease and no event has occurred that, with the passage of time or the giving of notice (or both) would constitute a default by either Landlord or Tenant thereunder.

9.Notices.  Tenant confirms that, notwithstanding anything in the Lease to the contrary, notices delivered to Tenant pursuant to the Lease should be sent to:

aTyr Pharma, Inc.

3545 John Hopkins Court

San Diego, California 92121

Attn: Senior Vice President, Finance

 

10.Effect of Amendment.  Except as modified by this Amendment, the Existing Lease and all the covenants, agreements, terms, provisions and conditions thereof shall remain in full force and effect and are hereby ratified and affirmed.  In the event of any conflict between the terms contained in this Amendment and the Existing Lease, the terms herein contained shall supersede and control the obligations and liabilities of the parties.

11.Successors and Assigns.  Each of the covenants, conditions and agreements contained in this Amendment shall inure to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs, legatees, devisees, executors, administrators and permitted successors and assigns and sublessees.  Nothing in this section shall in any way alter the provisions of the Lease restricting assignment or subletting.

12.Miscellaneous.  This Amendment becomes effective only upon execution and delivery hereof by Landlord and Tenant. The captions of the paragraphs and subparagraphs in this Amendment are inserted and included solely for convenience and shall not be considered or given any effect in construing the provisions hereof.  All exhibits hereto are incorporated herein by reference.  Submission of this instrument for examination or signature by Tenant does not constitute a reservation of or option for a lease, and shall not be effective as a lease, lease amendment or otherwise until execution by and delivery to both Landlord and Tenant.

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13.Authority.  Tenant guarantees, warrants and represents that the individual or individuals signing this Amendment have the power, authority and legal capacity to sign this Amendment on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint venturers or other organizations and entities on whose behalf such individual or individuals have signed.  Landlord guarantees, warrants and represents that the individual or individuals signing this Amendment on behalf of Landlord have the power, authority and legal capacity to sign this Amendment on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint venturers or other organizations and entities on whose behalf such individual or individuals have signed.

14.Counterparts; Facsimile and PDF Signatures.  This Amendment may be executed in one or more counterparts, each of which, when taken together, shall constitute one and the same document.  A facsimile or portable document format (PDF) signature on this Amendment shall be equivalent to, and have the same force and effect as, an original signature.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date and year first above written.

LANDLORD:

BMR-3545-3575 JOHN HOPKINS LP,

a Delaware limited partnership

 

By:/s/ Marie Lewis

Name:Marie Lewis

Title:Vice President, Legal

 

TENANT:

ATYR PHARMA, INC.,

a Delaware corporation

 

By:/s/ Nancy D. Krueger

Name:Nancy D. Krueger

Title:VP, Legal Affairs

 

 

 

EXHIBIT A

EXPANSION SPACE

 

 

EXHIBIT B

IT SPACEExhibit 10.8

 

 

INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (this “Agreement”), dated as of the ___ day of _________, 201_ is made by and between Avra Medical
Robotics Inc., a Florida corporation (the “Company”), _________________________________________________________,
residing at ______________________________________, USA (the “Indemnitee”).

 

RECITALS

 

A.           The
Company and the Indemnitee recognize that the present state of the law is too uncertain to provide the Company’s officers
and directors with adequate and reliable advance knowledge or guidance with respect to the legal risks and potential liabilities
to which they may become personally exposed as a result of performing their duties for the Company;

 

B.           The
Company and the Indemnitee are aware of the substantial growth in the number of lawsuits filed against corporate officers and directors
in connection with their activities in such capacities and by reason of their status as such;

 

C.           The
Company and the Indemnitee recognize that the cost of defending against such lawsuits, whether or not meritorious, is typically
beyond the financial resources of most officers and directors of the Company;

 

D.           The
Company and the Indemnitee recognize that the legal risks and potential liabilities, and the threat thereof, associated with proceedings
filed against the officers and directors of the Company bear no reasonable relationship to the amount of compensation received
by the Company’s officers and directors;

 

E.            The
Company, after reasonable investigation prior to the date hereof, has determined that the liability insurance coverage available
to the Company as of the date hereof is inadequate, unreasonably expensive or both. The Company believes, therefore, that the interest
of the Company and its current and future stockholders would be best served by a combination of (i) such insurance as the Company
may obtain pursuant to the Company’s obligations hereunder and (ii) a contract with its officers and directors, including
the Indemnitee, to indemnify them to the fullest extent permitted by law (as in effect on the date hereof, or, to the extent any
amendment may expand such permitted indemnification, as hereafter in effect) against personal liability for actions taken in the
performance of their duties to the Company;

 

F.            Section
607.0850 of the Florida Business Corporation Act empowers Florida corporations to indemnify their officers and directors and further
states that the indemnification provided by Section 607.0850 shall not be deemed exclusive of any other rights to which those seeking
indemnification may be entitled under the articles of incorporation or any bylaw, agreement, vote of stockholders or disinterested
directors or otherwise, both as to action in an official capacity and
as to action in another capacity while holding such office; thus, Section 607.0850 does not by itself limit the extent to which
the Company may indemnify persons serving as its officers and directors;

 

    	 	1

     

    

 

Exhibit 10.8

 

 

G.           The
Company’s Articles of Incorporation and Bylaws authorize the indemnification of the officers and directors of the Company
in excess of that expressly permitted by Section 607.0850;

 

H.           The
Board of Directors of the Company has concluded that, to retain and attract talented and experienced individuals to serve as officers
and directors of the Company and to encourage such individuals to take the business risks necessary for the success of the Company,
it is necessary for the Company to contractually indemnify its officers and directors, and to assume for itself liability for expenses
and damages in connection with claims against such officers and directors in connection with their service to the Company, and
has further concluded that the failure to provide such contractual indemnification could result in great harm to the Company and
its stockholders;

 

I.             The
Company desires and has requested the Indemnitee to serve or continue to serve as a director or officer of the Company, free from
undue concern for the risks and potential liabilities associated with such services to the Company; and

 

J.            The
Indemnitee is willing to serve, or continue to serve, the Company, provided, and on the expressed condition, that the Indemnitee
is furnished with the indemnification provided for herein.

 

AGREEMENT

 

NOW, THEREFORE, the
Company and Indemnitee agree as follows:

 

		1.	DEFINITIONS.

 

(a)          “EXPENSES”
means, for the purposes of this Agreement, all direct and indirect costs of any type or nature whatsoever (including, without limitation,
any fees and disbursements of Indemnitee’s counsel, accountants and other experts and other out-of-pocket costs) actually
and reasonably incurred by the Indemnitee in connection with the investigation, preparation, defense or appeal of a Proceeding;
provided, however, that Expenses shall not include judgments, fines, penalties or amounts paid in settlement of a Proceeding.

 

(b)          “PROCEEDING”
means, for the purposes of this Agreement, any threatened, pending or completed action or proceeding, whether civil, criminal,
administrative or investigative (including an action brought by or in the right of the Company) in which Indemnitee may be or may
have been involved as a party or otherwise, by reason of the fact that Indemnitee is or was a director or officer of the Company,
by reason of any action taken by Indemnitee or of any inaction on his or her part while acting as such director or officer or by
reason of the fact that he or she is or was serving at the request of the Company as a director, officer, employee or agent of
another foreign or domestic corporation, partnership, joint venture, trust or other enterprise, or was a director or officer of
the foreign or domestic corporation which was a predecessor corporation to the Company or of another enterprise at the request
of such predecessor corporation, whether or not he or she is serving in such capacity at the time any liability or expense is incurred
for which indemnification or reimbursement can be provided under this Agreement.

 

    	 	2

     

    

 

Exhibit 10.8

 

 

2.            AGREEMENT
TO SERVE. Indemnitee agrees to serve or continue to serve as a director or officer of the Company to the best of his or her
abilities at the will of the Company or under separate contract, if such contract exists, for so long as Indemnitee is duly elected
or appointed and qualified or until such time as the Indemnitee tenders his or her resignation in writing. Nothing contained in
this Agreement is intended to create in Indemnitee any right to continued employment.

 

		3.	INDEMNIFICATION.

 

(a)          THIRD
PARTY PROCEEDINGS. The Company shall indemnify Indemnitee against Expenses, judgments, fines, penalties or amounts paid in settlement
(if the settlement is approved in advance by the Company) actually and reasonably incurred by Indemnitee in connection with a Proceeding
(other than a Proceeding by or in the right of the Company) if Indemnitee acted in good faith and in a manner Indemnitee reasonably
believed to be in the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable
cause to believe Indemnitee’s conduct was unlawful. The termination of any Proceeding by judgment, order, settlement, conviction,
or upon a plea of NOLO CONTENDERE or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in
good faith and in a manner which Indemnitee reasonably believed to be in the best interests of the Company, or, with respect to
any criminal Proceeding, had no reasonable cause to believe that Indemnitee's conduct was unlawful.

 

(b)          PROCEEDINGS
BY OR IN THE RIGHT OF THE COMPANY. To the fullest extent permitted by law, the Company shall indemnify Indemnitee against Expenses
and amounts paid in settlement, actually and reasonably incurred by Indemnitee in connection with a Proceeding by or in the right
of the Company to procure a judgment in its favor if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed
to be in the best interests of the Company and its stockholders. Notwithstanding the foregoing, no indemnification shall be made
in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged liable to the Company in the performance
of Indemnitee’s duty to the Company and its stockholders unless and only to the extent that the court in which such action
or Proceeding is or was pending shall determine upon application that, in view of all the circumstances of the case, Indemnitee
is fairly and reasonably entitled to indemnity for Expenses and then only to the extent that the court shall determine.

 

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Exhibit 10.8

 

 

(c)          SCOPE.
Notwithstanding any other provision of this Agreement but subject to Section 3(b) and Section 14(b), the Company shall indemnify
the Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification is not specifically authorized
by other provisions of this Agreement, the Company’s Articles of Incorporation, the Company’s Bylaws or by statute.

 

4.            LIMITATIONS
ON INDEMNIFICATION. Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to
the terms of this Agreement:

 

(a)           EXCLUDED
ACTS. To indemnify Indemnitee for any acts or omissions or transactions from which a director may not be relieved of liability
under applicable law;

 

(b)          EXCLUDED
INDEMNIFICATION PAYMENTS. To indemnify or advance Expenses in violation of any prohibition or limitation on indemnification under
the statutes, regulations or rules promulgated by any state or federal regulatory agency having jurisdiction over the Company;

 

(c)          CLAIMS
INITIATED BY INDEMNITEE. To indemnify or advance Expenses to Indemnitee with respect to Proceedings or claims initiated or brought
voluntarily by Indemnitee and not by way of defense, except with respect to Proceedings brought to establish or enforce a right
to indemnification under this Agreement or any other statute or law or otherwise as required under Section 607.0850 of the Florida
Business Corporation Act, but such indemnification or advancement of Expenses may be provided by the Company in specific cases
if the Board of Directors has approved the initiation or bringing of such suit;

 

(d)          LACK
OF GOOD FAITH. To indemnify Indemnitee for any Expenses incurred by the Indemnitee with respect to any Proceeding instituted by
Indemnitee to enforce or interpret this Agreement, if a court of competent jurisdiction determines that each of the material assertions
made by the Indemnitee in such Proceeding was not made in good faith or was frivolous;

 

(e)          INSURED
CLAIMS. To indemnify Indemnitee for Expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines,
ERISA excise taxes or penalties, and amounts paid in settlement) which have been paid directly to or on behalf of Indemnitee by
an insurance carrier under a policy of directors’ and officers’ liability insurance maintained by the Company or any
other policy of insurance maintained by the Company or Indemnitee; or

 

(f)           CLAIMS
UNDER SECTION 16(b). To indemnify Indemnitee for Expenses and the payment of profits arising from the purchase and sale by Indemnitee
of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute.

 

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Exhibit 10.8

 

 

5.            DETERMINATION
OF RIGHT TO INDEMNIFICATION. Upon receipt of a written claim addressed to the Board of Directors for indemnification pursuant to
Section 3, the Company shall determine by any of the methods set forth in Section 607.0850 of the Florida Business Corporation
Act whether Indemnitee has met the applicable standards of conduct which makes it permissible under applicable law to indemnify
Indemnitee. If such standards have been met and a claim under Section 3 is not paid in full by the Company within ninety (90) days
after such written claim has been received by the Company, the Indemnitee may at any time thereafter bring suit against the Company
to recover the unpaid amount of the claim and, unless such action is dismissed by the court as frivolous or brought in bad faith,
the Indemnitee shall be entitled to be paid also the expense of prosecuting such claim. The court in which such action is brought
shall determine whether Indemnitee or the Company shall have the burden of proof concerning whether Indemnitee has or has not met
the applicable standard of conduct.

 

6.            ADVANCEMENT
AND REPAYMENT OF EXPENSES. Subject to Section 4 hereof, the Expenses incurred by Indemnitee in defending and investigating any
Proceeding shall be paid by the Company in advance of the final disposition of such Proceeding within 30 days after receiving from
Indemnitee the copies of invoices presented to Indemnitee for such Expenses, if Indemnitee shall provide an undertaking to the
Company to repay such amount to the extent it is ultimately determined that Indemnitee is not entitled to indemnification. In determining
whether or not to make an advance hereunder, the ability of Indemnitee to repay shall not be a factor. Notwithstanding the foregoing,
in a proceeding brought by the Company directly, in its own right (as distinguished from an action bought derivatively or by any
receiver or trustee), the Company shall not be required to make the advances called for hereby if the Board of Directors determines,
in its sole discretion, that it does not appear that Indemnitee has met the standards of conduct which make it permissible under
applicable law to indemnify Indemnitee and the advancement of Expenses would not be in the best interests of the Company and its
stockholders.

 

7.            PARTIAL
INDEMNIFICATION. If the Indemnitee is entitled under any provision of this Agreement to indemnification or advancement by the Company
of some or a portion of any Expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, penalties,
and amounts paid in settlement) incurred by him in the investigation, defense, settlement or appeal of a Proceeding, but is not
entitled to indemnification or advancement of the total amount thereof, the Company shall nevertheless indemnify or pay advancements
to the Indemnitee for the portion of such Expenses or liabilities to which the Indemnitee is entitled.

 

8.            NOTICE
TO COMPANY BY INDEMNITEE. Indemnitee shall notify the Company in writing of any matter with respect to which Indemnitee intends
to seek indemnification hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof;
provided, however, that any delay in so notifying the Company shall not constitute a waiver by Indemnitee of her rights hereunder.
The written notification to the Company shall be addressed to the Board of Directors and shall include a description of the nature
of the Proceeding and the facts underlying the Proceeding and be accompanied by copies of any documents filed with the court in
which the Proceeding is pending. In addition, Indemnitee shall give the Company such information and cooperation as it may reasonably
require and as shall be within Indemnitee’s power.

 

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Exhibit 10.8

 

 

		9.	MAINTENANCE OF LIABILITY INSURANCE.

 

(a)          Subject
to Section 4 hereof, the Company hereby agrees that so long as Indemnitee shall continue to serve as a director or officer of the
Company and thereafter so long as Indemnitee shall be subject to any possible Proceeding, the Company, subject to Section 9(b),
shall use reasonable commercial efforts to obtain and maintain in full force and effect directors’ and officers’ liability
insurance (“D&O Insurance”) which provides Indemnitee the same rights and benefits as are accorded to the
most favorably insured of the Company’ directors, if Indemnitee is a director; or of the Company’s officers, if Indemnitee
is not a director of the Company but is an officer.

 

(b)          Notwithstanding
the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith
that such insurance is not reasonably available, the premium costs for such insurance are disproportionate to the amount of coverage
provided, the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or the Indemnitee
is covered by similar insurance maintained by a subsidiary or parent of the Company.

 

(c)          If,
at the time of the receipt of a notice of a claim pursuant to Section 8 hereof, the Company has D&O Insurance in effect, the
Company shall give prompt notice of the commencement of such Proceeding to the insurers in accordance with the procedures set forth
in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay,
on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

 

10.          DEFENSE
OF CLAIM. In the event that the Company shall be obligated under Section 6 hereof to pay the Expenses of any Proceeding against
Indemnitee, the Company, if appropriate, shall be entitled to assume the defense of such Proceeding, with counsel approved by Indemnitee,
which approval shall not be unreasonably withheld, upon the delivery to Indemnitee of written notice of its election to do so.
After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company
will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect
to the same Proceeding, provided that (i) Indemnitee shall have the right to employ counsel in any such Proceeding at Indemnitee’s
expense; and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized by the Company, or (B) Indemnitee
shall have reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct
of such defense or (C) the Company shall not, in fact, have employed counsel to assume the defense of such Proceeding, then the
fees and expenses of Indemnitee’s counsel shall be at the expense of the Company.

 

    	 	6

     

    

 

Exhibit 10.8

 

 

11.          ATTORNEYS’
FEES. In the event that Indemnitee or the Company institutes an action to enforce or interpret any terms of this Agreement, the
Company shall reimburse Indemnitee for all of the Indemnitee’s reasonable fees and expenses in bringing and pursuing such
action or defense, unless as part of such action or defense, a court of competent jurisdiction determines that the material assertions
made by Indemnitee as a basis for such action or defense were not made in good faith or were frivolous.

 

12.          CONTINUATION
OF OBLIGATIONS. All agreements and obligations of the Company contained herein shall continue during the period the Indemnitee
is a director or officer of the Company, or is or was serving at the request of the Company as a director, officer, fiduciary,
employee or agent of another corporation, partnership, joint venture, trust or other enterprise, and shall continue thereafter
so long as the Indemnitee shall be subject to any possible proceeding by reason of the fact that Indemnitee served in any capacity
referred to herein.

 

13.          SUCCESSORS
AND ASSIGNS. This Agreement establishes contract rights that shall be binding upon, and shall inure to the benefit of, the successors,
assigns, heirs and legal representatives of the parties hereto.

 

		14.	NON-EXCLUSIVITY.

 

(a)          The
provisions for indemnification and advancement of expenses set forth in this Agreement shall not be deemed to be exclusive of any
other rights that the Indemnitee may have under any provision of law, the Company’s Articles of Incorporation or Bylaws,
the vote of the Company’s stockholders or disinterested directors, other agreements or otherwise, both as to action in the
Indemnitee’s official capacity and action in another capacity while occupying the Indemnitee’s position as a director
or officer of the Company.

 

(b)          In
the event of any changes, after the date of this Agreement, in any applicable law, statute, or rule which expand the right of a
Florida corporation to indemnify its officers and directors, the Indemnitee’s rights and the Company’s obligations
under this Agreement shall be expanded to the full extent permitted by such changes. In the event of any changes in any applicable
law, statute or rule, which narrow the right of a Florida corporation to indemnify a director or officer, such changes, to the
extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement
or the parties’ rights and obligations hereunder.

 

    	 	7

     

    

 

Exhibit 10.8

 

 

15.          EFFECTIVENESS
OF AGREEMENT. To the extent that the indemnification permitted under the terms of certain provisions of this Agreement exceeds
the scope of the indemnification provided for in the Florida Statutes, such provisions shall not be effective unless and until
the Company’s Articles of Incorporation authorize such additional rights of indemnification. In all other respects, the balance
of this Agreement shall be effective as of the date set forth on the first page and may apply to acts of omissions of Indemnitee
which occurred prior to such date if Indemnitee was an officer, director, employee or other agent of the Company, or was serving
at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust
or other enterprise, at the time such act or omission occurred.

 

16.          SEVERABILITY.
Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in
violation of applicable law. The Company’s inability, pursuant to court order, to perform its obligations under this Agreement
shall not constitute a breach of this Agreement. The provisions of this Agreement shall be severable as provided in this Section
16. If this Agreement or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the
Company shall nevertheless indemnify Indemnitee to the full extent permitted by any applicable portion of this Agreement that shall
not have been invalidated, and the balance of this Agreement not so invalidated shall be enforceable in accordance with its terms.

 

17.          GOVERNING LAW.
This Agreement shall be interpreted and enforced in accordance with the laws of the State of Florida, without reference to its
conflict of law principals. To the extent permitted by applicable law, the parties hereby waive any provisions of law which render
any provision of this Agreement unenforceable in any respect.

 

18.          NOTICE.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed duly given
(i) if delivered by hand and receipted for by the party addressee or (ii) if mailed by certified or registered mail with postage
prepaid, on the third business day after the mailing date. Addresses for notice to either party are as shown on the signature page
of this Agreement, or as subsequently modified by written notice.

 

19.          MUTUAL
ACKNOWLEDGMENT. Both the Company and Indemnitee acknowledge that in certain instances, federal law or applicable public policy
may prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise. Indemnitee understands
and acknowledges that the Company has undertaken or may be required in the future to undertake with the appropriate state or federal
regulatory agency to submit for approval any request for indemnification, and has undertaken or may be required in the future to
undertake with the Securities and Exchange Commission to submit the question of indemnification to a court in certain circumstances
for a determination of the Company’s right under public policy to indemnify Indemnitee.

 

20.          COUNTERPARTS.
This Agreement may be executed in one or more counterparts, each of which shall constitute an original.

 

    	 	8

     

    

 

Exhibit 10.8

 

 

21.          AMENDMENT
AND TERMINATION. No amendment, modification, termination or cancellation of this Agreement shall be effective unless in writing
signed by both parties hereto.

 

[Signature Page Follows]

 

    	 	9

     

    

 

Exhibit 10.8

 

 

IN WITNESS WHEREOF,
the parties have executed this Agreement as of the day and year set forth above.

 

	 	AVRA MEDICAL ROBOTICS INC.
	 	 
	 	BY:___________________
	 	Name:
	 	Title:
	 	 
	 	INDEMNITEE
	 	 
	 	 _____________________
	 	Name:
	 	Address:

 

    	 	10

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