Document:

EX-4.6

 Exhibit 4.6 

2020 MICROVISION, INC. INCENTIVE PLAN 
  

	1.	 DEFINED TERMS 

Exhibit A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related to those
terms. 
  

	2.	 EFFECTIVE DATE 

This 2020 MicroVision, Inc. Incentive Plan amends, restates in its entirety and renames the 2013 MicroVision, Inc. Incentive Plan. This
amendment and restatement of the Plan shall become effective as of the Date of Adoption. 
  

	3.	 PURPOSE 

The purpose of the Plan is to provide a means by which the Company may attract, reward and retain the services or advice of current or future
employees, officers, consultants or independent contractors of, and other advisors to, the Company and to provide added incentives to them by encouraging stock ownership in the Company. 

 

	4.	 ADMINISTRATION 

The Administrator has discretionary authority, subject only to the express provisions of the Plan, to interpret the Plan; determine eligibility
for and grant Awards; determine, modify or waive the terms and conditions of any Award; prescribe forms, rules and procedures; and otherwise do all things necessary to carry out the purposes of the Plan. Determinations of the Administrator made
under the Plan will be conclusive and will bind all parties. 

  
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	5.	 LIMITS ON AWARDS UNDER THE PLAN 

 

	 	a.	 Number of Shares. Subject to adjustment as provided in Section 8(b), the number of
shares of Stock that may be delivered in satisfaction of Awards under the Plan is (i) 5,000,000 shares of Stock, plus (ii) the number of shares of Stock available for issuance under the Prior Plan as of the Date of Adoption (which will not
exceed 3,485,805 shares) plus (iii) the number of shares of Stock underlying awards under the Prior Plan that on or after the Date of Adoption are forfeited, expired or are cancelled without the delivery of shares of Stock or otherwise become
available again for grant under the Prior Plan in accordance with its terms (which will not exceed 5,822,963 shares) (collectively, the “Share Pool”). The number of shares of Stock delivered in satisfaction of Awards shall, for purposes of
the preceding sentence, be determined net of shares of Stock withheld by the Company in payment of the exercise price or purchase price of the Award or, solely with respect to Stock Options or SARs granted under the Plan, in satisfaction of tax
withholding requirements with respect to the Award. Any shares of Stock withheld by the Company in payment of the exercise price or purchase price of an award issued under the Prior Plan or in satisfaction of tax withholding requirements with
respect to an award under the Prior Plan shall also be available for issuance under the Plan. Further, any shares of Stock underlying any portion of an Award that is settled in cash or that expires, becomes unexercisable, terminates or is forfeited
to or repurchased by the Company without the issuance (or retention, in the case of Restricted Stock or Unrestricted Stock) of Stock shall again be available for issuance under the Plan. For the avoidance of doubt, the Share Pool will not be
increased by any shares of Stock delivered under the Plan that are subsequently repurchased using proceeds directly attributable to Stock Option exercises. Up to 100% of the shares of Stock from the Share Pool may be issued in satisfaction of ISOs,
but nothing in this Section 5(a) will be construed as requiring that any, or any fixed number of, ISOs be granted under the Plan. The limit set forth in this Section 5(a) shall be construed to comply with Section 422 of the Code and
regulations thereunder. To the extent consistent with the requirements of Section 422 of the Code and regulations thereunder, and with other applicable legal requirements (including applicable stock exchange requirements), Stock issued under
awards of an acquired company that are converted, replaced, or adjusted in connection with the acquisition shall not reduce the number of shares available for Awards under the Plan. 

  

	 	b.	 Type of Shares. Stock delivered by the Company under the Plan may be authorized but
unissued Stock or previously issued Stock acquired by the Company. No fractional shares of Stock will be delivered under the Plan. 

  

	 	c.	 Award Limits. The maximum number of shares of Stock for which Stock Options may be granted
to any person in any calendar year and the maximum number of shares of Stock subject to SARs granted to any person in any calendar year will each be 500,000. The maximum number of shares subject to other Awards granted to any person in any calendar
year will be 500,000 shares. The maximum amount payable to any person in any year under Cash Awards will be $3,000,000. 

  

	6.	 ELIGIBILITY AND PARTICIPATION 

The Administrator may grant Awards to any current or future Employee, officer, director, consultant or independent contractor of, or other
advisor to, the Company or its subsidiaries. Eligibility for ISOs is limited to employees of the Company or of a “parent corporation” or “subsidiary corporation” of the Company as those terms are defined in Section 424 of
the Code. 

  
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	7.	 RULES APPLICABLE TO AWARDS 

 

	 	a.	 All Awards  

 

	 	1.	 Award Provisions. The Administrator will determine the terms of all Awards, subject to the
limitations provided herein. No term of an Award shall provide for automatic “reload” grants of additional Awards upon exercise of a Stock Option or SAR or otherwise as a term of an Award. By accepting (or being deemed to have accepted)
any Award granted hereunder, the Participant agrees to the terms of the Award and the Plan. Notwithstanding any provision of this Plan to the contrary, awards of an acquired company that are converted, replaced or adjusted in connection with the
acquisition may contain terms and conditions that are inconsistent with the terms and conditions specified herein, as determined by the Administrator. 

  

	 	2.	 Term of Plan. No Awards may be made after ten (10) years from the Date of Adoption,
but previously granted Awards may continue beyond that date in accordance with their terms. 

  

	 	3.	 Transferability. Neither ISOs nor, except as the Administrator otherwise expressly
provides, other Awards may be transferred other than by will or by the laws of descent and distribution, and during a Participant’s lifetime ISOs (and, except as the Administrator otherwise expressly provides, other non-transferable Awards requiring exercise) may be exercised only by the Participant. 

  

	 	4.	 Vesting, Etc. Except as provided in Section 7(a)(11) below, the Administrator may
determine the time or times at which an Award will vest or become exercisable and the terms on which an Award requiring exercise will remain exercisable. Without limiting the foregoing, the Administrator may at any time accelerate the vesting or
exercisability of an Award, regardless of any adverse or potentially adverse tax consequences resulting from such acceleration. Unless the Administrator expressly provides otherwise, however, the following rules will apply: immediately upon the
cessation of the Participant’s Employment, each Award requiring exercise that is then held by the Participant or by the Participant’s permitted transferees, if any, will cease to be exercisable and will terminate, and all other Awards that
are then held by the Participant or by the Participant’s permitted transferees, if any, to the extent not already vested will be forfeited, except that: 

  

	 	A.	 subject to (B) and (C) below, all Stock Options and SARs held by the Participant or the Participant’s
permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of three months or (ii) the period ending on the
latest date on which such Stock Option or SAR could have been exercised without regard to this Section 7(a)(4), and will thereupon terminate; 

  
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	 	B.	 all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any,
immediately prior to the Participant’s death or Disability, to the extent then exercisable, will remain exercisable for the lesser of (i) the one year period ending with the first anniversary of the Participant’s death or Disability
or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 7(a)(4), and will thereupon terminate; and 

 

	 	C.	 all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any,
immediately prior to the cessation of the Participant’s Employment will immediately terminate upon such cessation if the termination is for Cause or occurs in circumstances that the Administrator in its sole discretion determines would have
constituted grounds for a termination for Cause. 

  

	 	5.	 Taxes. The Administrator will make such provision for the withholding of taxes as it deems
necessary. The Administrator may, but need not, hold back shares of Stock from an Award or permit a Participant to tender previously owned shares of Stock in satisfaction of tax withholding requirements (but not in excess of the maximum withholding
amount consistent with the Award being subject to equity accounting treatment under the Accounting Rules). 

  

	 	6.	 Dividend Equivalents, Etc. The Administrator may provide for the payment of amounts
in lieu of cash dividends or other cash distributions with respect to Stock subject to an Award; provided, however, that (a) dividends or dividend equivalents relating to an Award that, at the dividend payment date, remains subject to a
risk of forfeiture (whether service-based or performance-based) shall be subject to the same risk of forfeiture as applies to the underlying Award and (b) no dividends or dividend equivalents shall be payable with respect to Stock Options or
SARs. Any entitlement to dividend equivalents or similar entitlements shall be established and administered consistent either with exemption from, or compliance with, the requirements of Section 409A to the extent applicable.

  

	 	7.	 Foreign Qualified Grants. Awards under this Plan may be granted to officers and Employees
of the Company and other persons described in Section 6 who reside in foreign jurisdictions as the Administrator may determine from time to time. The Administrator may adopt supplements to the Plan as needed to comply with the applicable laws
of such foreign jurisdictions and to give Participants favorable treatment under such laws; provided, however that no award shall be granted under any such supplement on terms more beneficial to such Participants than those permitted
by this Plan. 

  
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	 	8.	 Corporate Mergers, Acquisitions, Etc. The Administrator may grant Awards under this Plan
having terms, conditions and provisions that vary from those specified in this Plan provided that such Awards are granted in substitution for, or in connection with the assumption of, existing Awards granted or issued by another corporation and
assumed or otherwise agreed to be provided for by the Company pursuant to or by reason of a transaction involving a corporate merger, consolidation, acquisition of property or stock, reorganization or liquidation to which the Company is a party.

  

	 	9.	 Rights Limited. Nothing in the Plan will be construed as giving any person the right to
continued Employment, or any rights as a stockholder except as to shares of Stock actually issued under the Plan. The loss of existing or potential profit in Awards will not constitute an element of damages in the event of termination of Employment
for any reason, even if the termination is in violation of an obligation of the Company or Affiliate to the Participant. 

  

	 	10.	 Recovery of Compensation. The Administrator may provide in any case that any outstanding
Award (whether or not vested or exercisable), the proceeds from the exercise or disposition of any Award or Stock acquired under any Award and any other amounts received in respect of any Award or Stock acquired under any Award will be subject to
forfeiture and disgorgement to the Company, with interest and other related earnings, if the Participant to whom the Award was granted is not in compliance with any provision of the Plan or any applicable Award or any
non-competition, non-solicitation, no-hire, non-disparagement, confidentiality, invention
assignment or other restrictive covenant by which he or she is bound. Each Award shall be subject to any policy of the Company or any of its Affiliates that provides for forfeiture, disgorgement or clawback with respect to incentive compensation
that includes Awards under the Plan and shall be further subject to forfeiture and disgorgement to the extent required by law or applicable stock exchange listing standards, including, without limitation, Section 10D of the Securities Exchange
Act of 1934, as amended. Each Participant, by accepting or being deemed to have accepted an Award under the Plan, agrees (or will be deemed to have agreed) to the terms of this Section 7(a)(10) and to cooperate fully with the Administrator, and
to cause any and all permitted transferees of the Participant to cooperate fully with the Administrator, to effectuate any forfeiture or disgorgement described in this Section 7(a)(10). Neither the Administrator nor the Company nor any other
person, other than the Participant and his or her permitted transferees, if any, will be responsible for any adverse tax or other consequences to a Participant or his or her permitted transferees, if any, that may arise in connection with this
Section 7(a)(10). 

  
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	 	11.	 Other Restrictions. Except in the case of an Award that is granted to a Participant in
exchange for, in lieu of the right to receive the payment of, or in settlement of, an equivalent amount of salary, bonus, or other cash compensation, no Award granted under the Plan shall be scheduled to vest, in whole or in part, prior to the date
that is one (1) year following the date the Award is granted. Notwithstanding the foregoing, (i) the Administrator may grant Awards covering five percent (5%) or fewer of the total number of shares of Stock authorized for delivery under
the Plan (as determined in accordance with the rules set forth under Section 5(a) above) without respect to the above-described minimum vesting requirement. Further, notwithstanding the foregoing, with respect to Awards granted to non-employee members of the Board, the vesting of such Awards will be deemed to satisfy the one (1) year minimum vesting requirement to the extent that the Awards vest on the earlier of the one (1) year
anniversary of the date of grant and the next annual meeting of the stockholders of the Company. 

  

	 	12.	 Section 409A 

 

	 	A.	 Without limiting the generality of Section 12(b), each Award will contain such terms as the Administrator
determines and will be construed and administered, such that the Award either qualifies for an exemption from the requirements of Section 409A or satisfies such requirements. 

 

	 	B.	 Notwithstanding anything to the contrary in the Plan or any Award agreement, the Administrator may unilaterally
amend, modify or terminate the Plan or any outstanding Award, including, but not limited to, changing the form of the Award, if the Administrator determines that such amendment, modification or termination is necessary or advisable to avoid the
imposition of an additional tax, interest or penalty under Section 409A. 

  

	 	C.	 If a Participant is determined on the date of the Participant’s termination of Employment to be a
“specified employee” within the meaning of that term under Section 409A(a)(2)(B) of the Code, then, with regard to any payment that is considered nonqualified deferred compensation under Section 409A, to the extent applicable,
payable on account of a “separation from service”, such payment will be made or provided on the date that is the earlier of (i) the first business day following the expiration of the six-month
period measured from the date of such “separation from service” and (ii) the date of the Participant’s death (the “Delay Period”). Upon the expiration of the Delay Period, all payments delayed pursuant to this
Section 7(a)(12)(C) (whether they would have otherwise been payable in a single lump sum or in installments in the absence of such delay) will be paid, without interest, on the first business day following the expiration of the Delay Period in
a lump sum and any remaining payments due under the Award will be paid in accordance with the normal payment dates specified for them in the applicable Award agreement. 

  
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	 	D.	 For purposes of Section 409A, each payment made under the Plan or any Award will be treated as a separate
payment. 

  

	 	E.	 With regard to any payment considered to be nonqualified deferred compensation under Section 409A, to the
extent applicable, that is payable upon a change in control of the Company or other similar event, to the extent required to avoid the imposition of any additional tax, interest or penalty under Section 409A, no amount will be payable unless
such change in control constitutes a “change in control event” within the meaning of Section 1.409A-3(i)(5) of the Treasury Regulations. 

 

	 	b.	 Awards Requiring Exercise  

 

	 	1.	 Time And Manner Of Exercise. Unless the Administrator expressly provides otherwise, an
Award requiring exercise by the holder will not be deemed to have been exercised until the Administrator receives a notice of exercise (in a form acceptable to the Administrator) signed by the appropriate person and accompanied by any payment
required under the Award. If the Award is exercised by any person other than the Participant, the Administrator may require satisfactory evidence that the person exercising the Award has the right to do so. Awards may be exercised in whole or in
part. 

  

	 	2.	 Exercise Price. The exercise price (or the base value from which appreciation is to be
measured) of each Award requiring exercise shall be 100% (in the case of an ISO granted to a ten-percent shareholder within the meaning of Section 422(b)(6) of the Code, 110%) of the fair market value of
the Stock subject to the Award, determined as of the date of grant, or such higher amount as the Administrator may determine in connection with the grant. Fair market value shall be determined by the Administrator consistent with the requirements of
Section 422 and Section 409A. Without the affirmative vote of holders of a majority of the shares of Stock cast in person or by proxy at a meeting of the stockholders of the Company at which a quorum representing a majority of all
outstanding shares of Stock is present or represented by proxy, the Administrator shall not approve a program providing for either (a) the cancellation of outstanding Awards requiring exercise and the grant in substitution therefor of new
Awards having a lower exercise price that has the effect of a repricing or a payment of cash or other consideration in respect of such cancelled Awards or (b) the amendment of such Awards to reduce the exercise price thereof. The preceding
sentence shall not be construed to apply to: (i) “issuing or assuming a stock option in a transaction to which section 424(a) applies,” within the meaning of Section 424 of the Code or (ii) the substitution or assumption of an
Award by reason of or pursuant to a corporate transaction involving the Company or as otherwise contemplated by Section 8. 

  
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	 	3.	 Payment Of Exercise Price. Where the exercise of an Award is to be accompanied by payment,
the Administrator may determine the required or permitted forms of payment, subject to the following: all payments will be made by cash or check acceptable to the Administrator, or, if so permitted by the Administrator and if legally permissible,
(i) through the delivery of shares of Stock that have a fair market value equal to the exercise price, (ii) through a broker-assisted exercise program acceptable to the Administrator, (iii) by other means acceptable to the
Administrator, or (iv) by any combination of the foregoing permissible forms of payment. The delivery of shares in payment of the exercise price under clause (i) above may be accomplished either by actual delivery or by constructive
delivery through attestation of ownership, subject to such rules as the Administrator may prescribe. 

  

	 	c.	 Awards Not Requiring Exercise 

Restricted Stock and Unrestricted Stock, Awards of Stock Units or other Awards that do not require exercise, including Performance Awards, may
be granted under the Plan, subject to the terms and conditions determined by the Administrator, and granted in exchange for such lawful consideration, including services, as the Administrator determines. 

 

	8.	 EFFECT OF CERTAIN TRANSACTIONS 

 

	 	a.	 Mergers, etc. Except as otherwise provided in an Award, the following
provisions shall apply in the event of a Covered Transaction: 

  

	 	1.	 Assumption or Substitution. If the Covered Transaction is one in which there is an
acquiring or surviving entity, the Administrator may provide for the assumption of some or all outstanding Awards or for the grant of new awards in substitution therefor by the acquiror or survivor or an affiliate of the acquiror or survivor.

  

	 	2.	 Cash-Out of Awards. If the Covered Transaction is
one in which holders of Stock will receive a payment (whether cash, non-cash or a combination of the foregoing) upon consummation of the transaction, the Administrator may provide for payment (a “cash-out”), with respect to some or all Awards, equal in the case of each affected Award to the excess, if any, of (A) the fair market value of one share of Stock (as determined by the Administrator
in its reasonable discretion) times the number of shares of Stock subject to the Award, over (B) the aggregate exercise or purchase price, if any, under the Award (in the case of an SAR, the aggregate base price above which appreciation is
measured), in each case on such payment terms (which need not be the same as the terms of payment to holders of Stock) and other terms, and subject to such conditions, as the Administrator determines. For the avoidance of doubt, if the per share
exercise or purchase price (or base value) of an Award or portion thereof is equal to or greater than the fair market value of a share of Stock, such Award or portion thereof may be cancelled with no payment due hereunder or otherwise in respect
thereof.  

  
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	 	3.	 Acceleration of Certain Awards. If the Covered Transaction (whether or not there is an
acquiring or surviving entity) is one in which there is no assumption, substitution or cash-out, each Award requiring exercise will become fully exercisable, and the delivery of shares of Stock deliverable
under each outstanding Award of Stock Units (including Restricted Stock Units and Performance Awards to the extent consisting of Stock Units) will be accelerated and such shares will be delivered, prior to the Covered Transaction, in each case on a
basis that gives the holder of the Award a reasonable opportunity, as determined by the Administrator, following exercise of the Award or the delivery of the shares, as the case may be, to participate as a stockholder in the Covered Transaction.

  

	 	4.	 Termination of Awards Upon Consummation of Covered Transaction. Each Award (unless assumed
pursuant to Section 8(a)(1) above), other than outstanding shares of Restricted Stock (which shall be treated in the same manner as other shares of Stock, subject to Section 8(a)(5) below), will terminate upon consummation of the Covered
Transaction. 

  

	 	5.	 Additional Limitations. Any share of Stock delivered pursuant to Section 8(a)(2) or
Section 8(a)(3) above with respect to an Award may, in the discretion of the Administrator, contain such restrictions, if any, as the Administrator deems appropriate to reflect any performance or other vesting conditions to which the Award was
subject. In the case of Restricted Stock, the Administrator may require that any amounts delivered, exchanged or otherwise paid in respect of such Stock in connection with the Covered Transaction be placed in escrow or otherwise made subject to such
restrictions as the Administrator deems appropriate to carry out the intent of the Plan. 

  
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	 	b.	 Change in and Distributions With Respect to Stock  

 

	 	1.	 Basic Adjustment Provisions. In the event of a stock dividend, stock split or combination
of shares (including a reverse stock split), recapitalization or other change in the Company’s capital structure, the Administrator will make appropriate adjustments to the maximum number of shares specified in Section 5(a) that may be
delivered under the Plan and to the maximum share limits described in Section 5(c), and will also make appropriate adjustments to the number and kind of shares of stock or securities subject to Awards then outstanding or subsequently granted,
any exercise prices relating to Awards and any other provision of Awards affected by such change. 

  

	 	2.	 Certain Other Adjustments. The Administrator may also make adjustments of the type
described in Section 8(b)(1) above to take into account distributions to stockholders other than those provided for in Section 8(a) and 8(b)(1), or any other event, if the Administrator determines that adjustments are appropriate to avoid
distortion in the operation of the Plan and to preserve the value of Awards made hereunder, having due regard for the qualification of ISOs under Section 422 of the Code and the requirements of Section 409A, where applicable.

  

	 	3.	 Continuing Application of Plan Terms. References in the Plan to shares of Stock will be
construed to include any stock or securities resulting from an adjustment pursuant to this Section 8. 

  

	9.	 LEGAL CONDITIONS ON DELIVERY OF STOCK 

The Company will not be obligated to deliver any shares of Stock pursuant to the Plan or to remove any restriction from shares of Stock
previously delivered under the Plan until: (i) the Company is satisfied that all legal matters in connection with the issuance and delivery of such shares have been addressed and resolved; (ii) if the outstanding Stock is at the time of
delivery listed on any stock exchange or national market system, the shares to be delivered have been listed or authorized to be listed on such exchange or system upon official notice of issuance; and (iii) all conditions of the Award have been
satisfied or waived. If the sale of Stock has not been registered under the Securities Act of 1933, as amended, the Company may require, as a condition to exercise of the Award, such representations or agreements as counsel for the Company may
consider appropriate to avoid violation of such Act. The Company may require that certificates evidencing Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Stock, and the Company may
hold the certificates pending lapse of the applicable restrictions. 

  
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	10.	 AMENDMENT AND TERMINATION 

The Administrator may at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by law,
and may at any time terminate the Plan as to any future grants of Awards; provided, that except as otherwise expressly provided in the Plan the Administrator may not, without the Participant’s consent, alter the terms of an Award so as
to affect adversely the Participant’s rights under the Award, unless the Administrator expressly reserved the right to do so at the time of the grant of the Award. Any amendments to the Plan shall be conditioned upon stockholder approval only
to the extent, if any, such approval is required by law (including the Code and applicable stock exchange requirements), as determined by the Administrator. 
  

	11.	 OTHER COMPENSATION ARRANGEMENTS 

The existence of the Plan or the grant of any Award will not in any way affect the Company’s right to award a person bonuses or other
compensation in addition to Awards under the Plan. 
  

	12.	 MISCELLANEOUS 

 

	 	a.	 Waiver of Jury Trial. By accepting an Award under the Plan, to the maximum extent
permitted by law, each Participant waives any right to a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan and any Award, or under any amendment, waiver, consent, instrument, document or other agreement
delivered or which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim shall be tried before a court and not before a jury. By accepting (or being deemed to have accepted) an Award
under the Plan, each Participant certifies that no officer, representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of any action, proceeding or counterclaim, seek to enforce the
foregoing waivers. 

  

	 	b.	 Limitation of Liability. Notwithstanding anything to the contrary in the Plan,
neither the Company, any Affiliate, nor the Administrator, nor any person acting on behalf of the Company, any Affiliate, or the Administrator, shall be liable to any Participant or to the estate or beneficiary of any Participant or to any other
holder of an Award by reason of any acceleration of income, or any additional tax, asserted by reason of the failure of an Award to satisfy the requirements of Section 422 or Section 409A or by reason of Section 4999 of the Code.

  
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 EXHIBIT A 

Definition of Terms 
 The following
terms, when used in the Plan, will have the meanings and be subject to the provisions set forth below: 
 “Accounting Rules”: Financial
Accounting Standards Board Accounting Standards Codification Topic 718, or any successor provision. 
 “Administrator”: The Board, except
that the Board may delegate (i) to one or more of its members such of its duties, powers and responsibilities as it may determine; provided, that with respect to any delegation described in this clause (i) only the Board may amend
or terminate the Plan as provided in Section 10; (ii) to one or more officers of the Company the power to grant rights or options to the extent permitted by Section 157(c) of the Delaware General Corporation Law; (iii) to one or more
officers of the Company the authority to allocate other Awards among such persons (other than officers of the Company) eligible to receive Awards under the Plan as such delegated officer or officers determine consistent with such delegation;
provided, that with respect to any delegation described in this clause (iii) the Board (or a properly delegated member or members of the Board) shall have authorized the issuance of a specified number of shares of Stock under such Awards
and shall have specified the consideration, if any, to be paid therefor; and (iv) to such Employees or other persons as it determines such ministerial tasks as it deems appropriate. In the event of any delegation described in the preceding
sentence, the term “Administrator” shall include the person or persons so delegated to the extent of such delegation. 

“Affiliate”: Any corporation or other entity owning, directly or indirectly, 50% or more of the outstanding Stock of the Company, or in which
the Company or any such corporation or other entity owns, directly or indirectly, 50% or more of the outstanding capital stock (determined by aggregate voting rights) or other voting interests. However, for purposes of determining eligibility for
the grant of a Stock Option or SAR, the term “Affiliate” shall mean a person standing in a relationship to the Company such that the Company and such person are treated as a single employer under Section 414(b) and Section 414(c)
of the Code, in accordance with the definition of “service recipient” under Section 409A of the Code. 
 “Award”: Any or a
combination of the following: 
 (i) Stock Options. 

(ii) SARs. 
 (iii) Restricted
Stock. 
 (iv) Unrestricted Stock. 

(v) Stock Units, including Restricted Stock Units. 

(vi) Performance Awards. 
 (vii)
Cash Awards. 
 (viii) Awards (other than Awards described in (i) through (vii) above) that are convertible into or otherwise based on
Stock. 

  
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 “Board”: The Board of Directors of the Company. 

“Cash Award”: An Award denominated in cash. 

“Cause”: The following, as determined by the Board in its reasonable judgment, shall constitute Cause for termination:
(i) Participant’s repeated willful failure to perform, or gross negligence in the performance of duties and responsibilities to the Company or any of its Affiliates; (ii) fraud, embezzlement or other dishonesty with respect to the
Company or any of its Affiliates; (iii) commission of a felony or other crime involving moral turpitude or (iv) other conduct by Participant that could be harmful to the business, interests, or reputation of the Company or any of its
Affiliates. 
 “Code”: The U.S. Internal Revenue Code of 1986 as from time to time amended and in effect, or any successor statute as from
time to time in effect. 
 “Company”: MicroVision, Inc. 

“Covered Transaction”: Any of (i) a consolidation, merger, or similar transaction or series of related transactions, including a sale or
other disposition of stock, in which the Company is not the surviving corporation or which results in the acquisition of all or substantially all of the Company’s then outstanding common stock by a single person or entity or by a group of
persons and/or entities acting in concert, (ii) a sale or transfer of all or substantially all the Company’s assets, or (iii) a dissolution or liquidation of the Company. Where a Covered Transaction involves a tender offer that
is reasonably expected to be followed by a merger described in clause (i) (as determined by the Administrator), the Covered Transaction shall be deemed to have occurred upon consummation of the tender offer. 

“Date of Adoption”: The date the Plan was approved by the Company’s stockholders. 

“Disability”: The total and permanent disability of any Participant, as determined by the Administrator in its sole discretion. Without
limiting the generality of the foregoing, the Administrator may, but is not required to, rely on a determination of disability by the Company’s long-term disability carrier or the Social Security Administration. 

“Employee”: Any person who is employed by the Company or an Affiliate. 

“Employment”: A Participant’s employment or other service relationship with the Company and its Affiliates. Employment will be deemed to
continue, unless the Administrator expressly provides otherwise, so long as the Participant is employed by, or otherwise is providing services in a capacity described in Section 6 to the Company or its Affiliates. If a Participant’s
employment or other service relationship is with an Affiliate and that entity ceases to be an Affiliate, the Participant’s Employment will be deemed to have terminated when the entity ceases to be an Affiliate unless the Participant transfers
Employment to the Company or its remaining Affiliates. Notwithstanding the foregoing, in construing the provisions of any Award relating to the payment of “nonqualified deferred compensation” (subject to Section 409A) upon a
termination or cessation of Employment, references to termination or cessation of employment, separation from service, retirement or similar or correlative terms will be construed to require a “separation from service” (as that term is
defined in Section 1.409A-1(h) of the Treasury Regulations, after giving effect to the presumptions contained therein) from the Company and from all other corporations and trades or businesses, if any,
that would be treated as a single “service recipient” with the Company under Section 1.409A-1(h)(3) of the Treasury Regulations. The Company may, but need not, elect in writing, subject to the
applicable limitations under Section 409A, any of the special elective rules prescribed in Section 1.409A-1(h) of the Treasury Regulations for purposes of determining whether a “separation from
service” has occurred. Any such written election will be deemed a part of the Plan. 

  
 13 

 “ISO”: A Stock Option intended to be an “incentive stock option” within the
meaning of Section 422 of the Code. Each option granted pursuant to the Plan will be treated as providing by its terms that it is to be a non-incentive stock option unless, as of the date of grant, it is
expressly designated as an ISO. 
 “Participant”: A person who is granted an Award under the Plan. 

“Performance Award”: An Award subject to Performance Criteria. 

“Performance Criteria”: Specified criteria, other than the mere continuation of Employment or the mere passage of time, the satisfaction of
which is a condition for the grant, exercisability, vesting or full enjoyment of an Award. 
 “Plan”: The 2020 MicroVision, Inc. Incentive
Plan, as from time to time amended and in effect. 
 “Prior Plan”: The 2013 MicroVision, Inc. Incentive Plan, as amended. 

“Restricted Stock”: Stock subject to restrictions requiring that it be redelivered or offered for sale to the Company if specified conditions
are not satisfied. 
 “Restricted Stock Unit”: A Stock Unit that is, or as to which the delivery of Stock or cash in lieu of Stock is,
subject to the satisfaction of specified performance or other vesting conditions. 
 “Section 409A”: Section 409A
of the Code. 
 “SAR”: A right entitling the holder upon exercise to receive an amount (payable in shares of Stock of equivalent value)
equal to the excess of the fair market value of the shares of Stock subject to the right over the fair market value of such shares at the date of grant. 

“Stock”: Common Stock of the Company, par value $.001 per share. 

“Stock Option”: An option entitling the holder to acquire shares of Stock upon payment of the exercise price. 

“Stock Unit”: An unfunded and unsecured promise, denominated in shares of Stock, to deliver Stock or cash measured by the value of Stock in
the future. 
 “Unrestricted Stock”: Stock not subject to any restrictions under the terms of the Award. 

  
 14Exhibit
10.1

 

**
CERTAIN IDENTIFIED INFORMATION HAS BEEN

EXCLUDED
FROM THIS EXHIBIT BECAUSE SUCH

INFORMATION
BOTH IS NOT MATERIAL AND WOULD BE

COMPETITIVELY
HARMFUL IF PUBLICLY DISCLOSED **

 

Technology
Transfer Agreement

 

This
Technology Transfer Agreement between Qualigen, Inc. (“Qualigen”), a legal entity incorporated in Delaware,
USA, with its offices at 2042 Corte del Nogal, Suite B, Carlsbad, California 92011, USA; and Yi Xin Zhen Duan Jishu (Suzhou) Ltd.
(翊新诊断技术(苏州)有限公司) (“Licensee”),
a legal entity registered in Room 301, 302, Building 9, No. 188 Fu Chung Jiang Lu, Suzhou High Technology Zone, Suzhou,(中国苏州富春江路188号9号楼301,302室),
the People’s Republic of China (individually “Party” and together “Parties”), is effective
as of October 7, 2020 (“Effective Date”).

 

Article
1 Recitals

 

WHEREAS,
Qualigen is the owner of FastPack® products and technologies;

 

WHEREAS,
the Parties wish to commercialize FastPack® products in China; and

 

WHEREAS,
the Parties wish to use the FastPack® technologies to develop, manufacture and commercialize new FastPack 2.0 (and
higher) products;

 

NOW,
THEREFORE, in consideration of the foregoing premises and the mutual agreement contained herein, the receipt and sufficiency
of which are hereby acknowledged, the Parties agree as follows:

 

Article
2 Definitions 

 

	2.1	“China”
    means the People’s Republic of China, but excluding the Hong Kong Special Administrative Region, the Macau Special Administrative
    Region, and Taiwan.

 

	2.2	“Exclusive”
    means that Qualigen will not grant any licenses or any right to use the Licensed Patents or the Qualigen Technology to any
    third party for the purposes set forth in Section 3.1(a)-(c) in or for the Licensed Territory.

 

	2.3	“FastPack
    2.0” means products manufactured and commercialized by Licensee using the Licensed Patents and/or the Qualigen Technology
    with the exclusion of FastPack® generation 1.0, IP or PRO.

 

	2.4	“Fields
    of Use” means all applications excluding Industrial Testing.

 

	2.5	“Industrial
    Testing” means all testing to detect, identify and/or quantitate one or more nucleic acid sequences in environmental
    and industrial samples, including, without limitation, water, air, manufactured products, manufacturing media and any and
    all materials associated with production of foodstuffs and beverages for any purpose, including, without limitation, quality
    control. Without limiting the generality of the foregoing, Industrial Testing includes testing environmental samples for agents
    of bioterrorism.

 

    	1

     

    

 

	2.6	“Legacy
    Customers” means Qualigen’s FastPack 1.0, IP or PRO direct or indirect customers as of the Sekisui Termination
    Date. Qualigen shall provide to Licensee a name list of the Legacy Customers forthwith after the Sekisui Termination Date.
    It is understood that for the purposes of this Agreement there are not (and will not be) any Legacy Customers in China.

 

	2.7	“Licensed
    Patents” means patents listed under Appendix 1(a).

 

	2.8	“Licensed
    Territory” means China before the Sekisui Termination Date and worldwide after the Sekisui Termination Date.

 

	2.9	“Net
    Sales” means the gross amount invoiced and/or received by Licensee, or Licensee’s affiliates, sublicensees
    or sublicense-assignees, for the sale or other disposition of FastPack 2.0 consumables Products and FastPack generation 1.0,
    IP and PRO Products by Licensee or Licensee’s affiliates, sublicensees or sublicense-assignees to Third Parties (but
    excluding sales or other dispositions by Licensee or Licensee’s affiliates, sublicensees or sublicense-assignees to
    a Licensee’s affiliate, a sublicensee, a sublicensee’s affiliate, a sublicense-assignee or a sublicense-assignee’s
    affiliate, and excluding sales or other dispositions by a sublicensee or a sublicense-assignee (or their affiliate) to an
    affiliate of sublicensee or sublicense-assignee), less the following deductions to the extent actually allowed or incurred
    with respect to such sales/dispositions (the “Permitted Deductions”):

 

	 	a.	Trade,
    cash and quantity discounts;

 

	 	b.	Discounts,
    refunds, rebates actually taken, chargebacks, retroactive price adjustments, and any other allowances which effectively reduce
    the net selling price (other than such which have already diminished the gross amount invoiced), including, without limitation,
    those granted to trade customers, group purchasing organizations, managed health care organizations, pharmacy benefit managers
    (or equivalents thereof), federal, state, national, provincial, local or other governments, their agencies and purchasers
    and reimbursers or to trade customers (in each case, other than such which have already diminished the gross amount invoiced);

 

	 	c.	Credits,
    rebates or allowances actually granted for defective or damaged Products of such type, or for returns or rejections of Product
    including in connection with recalls, (including allowances for spoiled, outdated or withdrawn Products of such type);

 

	 	d.	Amounts
    invoiced for sales of Products (of such type) but actually written off in good faith as uncollectible (net of any recoveries
    on written-off debt);

 

	 	e.	Shipping,
    packaging, handling, freight, postage, insurance, warehousing and transportation charges, but all only to the extent included
    as a separate line item in the gross amount invoiced; and

 

	 	f.	Any
    tax imposed in relation to the production, sale, delivery, importation or use of Products of such type, including, without
    limitation, import, export, sales, use, excise or value added taxes and customs, tariffs and duties, and other equivalent
    charges, but all only to the extent included as a separate line item (e.g., “taxes”) in the gross amount invoiced.

 

    	2

     

    

 

For
clarity: a particular deduction may only be accounted for once in the calculation of Net Sales.

 

In
determining amounts with respect to sales and/or expenses not denominated in United States Dollars, conversion from the applicable
foreign currency in which such sales and/or expenses were recorded to United States Dollars shall be performed at the exchange
rate reported in The Wall Street Journal, Eastern United States Edition, for the last trading day of the applicable calendar quarter;
based on the resulting Net Sales in United States Dollars, the then applicable royalties/Net Sales Payments shall be calculated.

 

In
the event that a Product of such type is commercialized in combination with one or more services and/or with one or more products
which are themselves not Products of such type for a mutually related price (e.g., buy one and get a discount on or a coupon for
the other) or for a single price, the Net Sales for such Product shall be calculated by multiplying the gross amount invoiced
for such combination sale by the fraction A/(A+B) where A is the fair market value of the Product and B is the fair market value
of the other product(s) and/or service(s) in the combination sale, and allocating applicable “Net Sales” deductions
in the same proportion.

 

If
the third party has paid Licensee or Licensee’s affiliates, sublicensees or sublicense-assignees any amount in connection
with Products other than per-unit sales prices (e.g., an upfront payment for a distribution right), such amount shall be allocated
over sales of Product units in an appropriate manner as if it were additional per-unit sales price.

 

If
Licensee or Licensee’s affiliates, sublicensees or sublicense-assignees disposes of any units of Products (of such type)
for any consideration other than monetary consideration, then the Net Sales for such units of Product shall be the fair market
value of such units of Product.

 

	2.10	“Net
    Sales Payment” means periodic payments to Qualigen in the nature of royalties, calculated as a percentage of Net
    Sales of Products. (The Parties acknowledge and agree that these payments are payable whether they are characterizable as
    royalties (e.g., Qualigen’s intellectual property other than the Transferred Patents covers, is incorporated into, or
    otherwise relates to Products sold by Licensee) or not; to the extent not characterizable as royalties, the Net Sales Payments
    are deemed to be consideration defined and paid (over a defined period of time) for assignment of the Transferred Patents
    and for Qualigen’s other assistance hereunder, subject to the limitations described herein and together with Licensee’s
    other obligations hereunder.)

 

	2.11	“Products”
    means products covered by the Licensed Patents, the Transferred Patents and/or the Qualigen Technology.

 

    	3

     

    

 

	2.12	“Qualigen
    Technology” means the additional know-how, information and/or materials in connection to the Licensed Patents or
    Transferred Patents that have been or will be provided by Qualigen to Licensee (including without limitation the information
    provided pursuant to Sections 5.3-5.6).

 

	2.13	“Representatives”
    means a Party’s affiliates, and the Party’s and its affiliates’ respective employees, officers, directors,
    managers, agents, contractors, consultants and advisors.

 

	2.14	“Sekisui
    Termination Date” means May 1, 2022.

 

	2.15	“Transferred
    Patents” means the registered patents and pending patents in China listed under Appendix 1(b).

 

Article
3 Grant

 

	3.1	Subject
    to the terms and conditions of this Agreement, Qualigen irrevocably grants Licensee an Exclusive and indefinite license of
    the Licensed Patents and the Qualigen Technology in the Fields of Use in and for the Licensed Territory for:

 

	 	a.	making,
    having made, selling, having sold and using FastPack 2.0 (and higher) Products,

 

	 	b.	selling
    FastPack 2.0 (and higher) Products to Sekisui Diagnostics, LLC for distribution anywhere in the world as determined by Licensee,
    either before or after Sekisui Termination Date, and

 

	 	c.	making,
    having made, selling, having sold and using FastPack 2.0 (and higher) Products worldwide after the Sekisui Termination Date,
    including by direct-selling or through Sekisui Diagnostics, LLC or through any distributor selected by Licensee.

 

	 	This Section 3.1
    is subject to Section 4.2. In addition, Licensee agrees that it shall not distribute or sell FastPack 2.0 (and higher) Products,
    directly or indirectly, to Legacy Customers after the Sekisui Termination Date.

 

	3.2	Qualigen
    confirms that it will not grant any license or right to use the Licensed Patents or the Qualigen Technology to any third party
    for the purposes set forth in Section 3.1(a)-(c) in and for the Licensed Territory.

 

	 	a.	Notwithstanding
    the foregoing, to the extent that any Licensed Patents are licensed to Qualigen by a third party on a non-exclusive basis,
    the license granted to Licensee in the foregoing sentence shall be non-exclusive. For clarity, as Qualigen is unable to grant
    Licensee any rights that it does not have, in the event that Qualigen obtains a non-exclusive license from a third party for
    Licensed Patents, then Qualigen shall pass on such rights to Licensee hereunder via a license that grants rights that are
    to such extent non-exclusive. It is understood that all references in this Agreement to “licenses” from Qualigen
    to Licensee (and other forms of the word “license”) include applicable sublicenses from Qualigen (as sublicensor)
    to Licensee (as sublicensee).

 

    	4

     

    

 

	3.3	Subject
    to the terms and conditions of this Agreement, Qualigen irrevocably grants Licensee a non-Exclusive and indefinite license
    of the Licensed Patents and the Qualigen Technology in the Fields of Use for:

 

	 	a.	after
    the Sekisui Termination Date, selling, having sold and using in and for the United States FastPack 1.0, IP or PRO products
    purchased by Licensee from Qualigen at Qualigen’s then-current wholesale prices (i.e., the then-current prices that
    are charged to major USA distributors such as McKesson or Henry Schein), including by direct-selling or through any general
    distributor selected by Licensee; and

 

	 	b.	after
    the Sekisui Termination Date, making, having made, selling, having sold and using anywhere in the Licensed Territory (except
    the United States) FastPack 1.0, IP or PRO products produced by Licensee, including by direct-selling or through Sekisui Diagnostics,
    LLC or through any general distributor selected by Licensee.

 

	3.4	Qualigen
    agrees that Licensee may, at its option, grant a sub-license under the Exclusive license granted under Section 3.1
    to any third party by entering into a sub-license agreement with such third party, provided that (i) the sub-licensee agrees
    to be bound by all provisions thereof, including, without limitation, those provisions imposing any obligations on Licensee
    under this Agreement; (ii) the sub-licensee is not allowed to further transfer or grant the sub-license to any other person;
    and (iii) no such sub-license agreement shall contain any provision inconsistent with this Agreement.

 

	3.5	Subject
    to the terms and conditions of this Agreement, Qualigen shall transfer the Transferred Patents listed in Appendix 1(b) to
    the Licensee. Upon the reasonable request by the Licensee, Qualigen shall cooperate with the Licensee to handle the relevant
    governmental procedures for the transfer of the Transferred Patents, and execute and provide the necessary documents required
    for the governmental procedures. The reasonably incurred cost for Qualigen’s cooperation and the governmental procedures
    for the transfer of the Transferred Patents shall be borne by the Licensee.

 

	3.6	Except
    for branded products which it purchases from Qualigen, Licensee shall not have rights to use the FastPack® trademark (or
    any similar mark) for any products anywhere other than in China. For clarity, Licensee shall have the right to register in
    China, for Licensee’s own account, a trademark or trademark for the word FastPack and/or similar word(s)/phrase(s) (all
    together, the “China FastPack Trademark”) and Qualigen shall assist the Licensee to apply for the relevant
    registration.

 

Article
4 Retained Rights

 

	4.1	Before
    the Sekisui Termination Date, Qualigen retains rights to develop, make, have made, manufacture, use, import, market, sell,
    distribute, and commercialize FastPack generation 1.0, IP and PRO products outside of China, and Licensee has rights to develop,
    make, have made, manufacture, use, import, market, sell, distribute, and commercialize FastPack generation 1.0, IP and PRO
    products in China.

 

	4.2	After
    the Sekisui Termination Date, Qualigen retains rights to develop, make, have made, manufacture, use, import, market, sell,
    distribute, and commercialize FastPack generation 1.0, IP and PRO products (i) outside of the United States and outside of
    China, but only to Legacy Customers, and (ii) in the United States; and Licensee has rights to develop, make, have made, manufacture,
    use, import, market, sell, distribute, and commercialize FastPack generation 1.0, IP and PRO products (iii) in China, (iv)
    outside of the United States and outside of China, but not directly or indirectly to Legacy Customers and (v) in the United
    States, but not directly or indirectly to Legacy Customers.

 

    	5

     

    

 

	 	a.	During
    this period, Qualigen will make FastPack generation 1.0, IP and PRO products available for sale to Licensee at Qualigen’s
    then-current wholesale prices (i.e., the then-current prices that are charged to major USA distributors such as McKesson or
    Henry Schein), for distribution in and for (and only in and for) the United States, and Licensee shall not market or sell
    FastPack generation 1.0, IP and PRO products in or for the United States except for those quantities which Licensee purchases
    from Qualigen to be distributed by Licensee in and for (and only in and for) the United States and subject to Section 4.2(v).
    (And Licensee shall not import FastPack generation 1.0, IP and PRO products into the United States.)

 

Article
5 Technology Transfer and R&D Technical Support

 

	5.1	Qualigen
    shall provide reasonable access for Licensee to use Qualigen’s facilities and equipment, until the second anniversary
    of the Effective Date, in support of Licensee’s research, development and prototype manufacturing (it being agreed that
    Qualigen is not required to provide physical materials such as instruments or reagents, except at an additional price, which
    shall be at an agreed inter-company transfer price.).

 

	5.2	Qualigen
    shall provide to Licensee a reasonable level of consulting assistance from Qualigen personnel (as authorized in Section
    6.3) in support of Licensee’s research, development and optimization of the identified first five FastPack 2.0 immunoassays
    (it being agreed that such consulting assistance will not require travel outside the USA by Qualigen personnel and that Qualigen
    is not required to provide physical materials such instruments or reagents, except at an additional price, which will be reasonable).

 

	5.3	Qualigen
    shall provide to Licensee copies of all designs, engineering drawings, assembly SOP, process control documents (if applicable),
    quality control, and quality assurance procedure documents related to the Licensed Patents and the Qualigen Technology licensed
    and Transferred Patents transferred under Article 3; if these documents are not in Qualigen’s possession, Qualigen
    shall reasonably assist Licensee to obtain such documents from Qualigen’s vendors.

 

	5.4	Qualigen
    shall provide to Licensee copies of all designs, engineering drawings, assembly SOP, process control documents (if applicable),
    quality control, and quality assurance procedure documents of the automated assembly line used to manufacture the FastPack
    consumables.

 

	5.5	Qualigen
    shall provide to Licensee copies of complete consumable and instrument product BOM related to the Licensed Patents and the
    Qualigen Technology licensed and Transferred Patents transferred under Article 3, and the related vendor information.

 

	5.6	Qualigen
    shall deliver to Licensee copies of Qualigen’s FastPack regulatory filings with the USA Food and Drug Administration,
    when requested by Licensee.

 

    	6

     

    

 

Article
6 Technology Transfer and R&D Technical Support Payment

 

	6.1	The
    technology transfer fee shall be [***] (the “Technology Transfer Fee”). Within 20 days after the Parties
    sign this Technology Transfer Agreement, Licensee shall pay Qualigen the Technology Transfer Fee in full. Once Qualigen receives
    the Technology Transfer Fee, Licensee has the rights under Article 3 and Article 5.

 

	6.2	Within
    three (3) months after (i) the payment of the Technology Transfer Fee and (ii) Licensee receives the documents and/or materials
    set forth under Article 5.3, 5.4 and 5.5, Licensee shall pay Qualigen the R&D technical support fee amounting to [***]
    (the “R&D Technical Support Fee”).

 

	6.3	The
    Parties agree and acknowledge that (i) the Technology Transfer Fee of [***] is payable to Qualigen as the fee for Qualigen
    to grant Licensee Exclusive rights of using the Licensed Patents and the Qualigen Technology and transfer the Transferred
    Patents subject to Section 3.1 and Section 3.5 of this Agreement, and (ii) the R&D Technical Support Fee
    of [***] will be used for Qualigen to make available to facilitate technology transfer to Licensee under the principles set
    forth in Section 6.4.

 

	6.4	In
    respect of the R&D Technical Support Fee, Qualigen shall establish a technical support account for Licensee with a maximum
    availability of [***]. Licensee may draw upon this account for the purchase of analyzers, reagents and components at distributor
    (or equivalent) pricing, provided that such purchases must be for technology transfer/technical support/R&D purposes only,
    must be completed by no later than December 31, 2021, and must not exceed [***] in the aggregate. (As an initial matter, it
    is agreed that Licensee shall draw against this account, at an agreed total price of [***] against the [***], for the following
    items (all provided on an as-is basis): 19 assembled FastPack 2.0 analyzers, all unassembled FastPack 2.0 component parts
    on hand at Qualigen, and access to and the nonexclusive right to use the engineering drawings (on hand at Qualigen) for FastPack
    2.0 filler production.) Licensee may also draw upon this account for consulting/support services provided by Qualigen personnel
    at reasonable hourly consulting/support rates established by Qualigen, provided that such services must be for technology
    transfer/technical support/R&D purposes only and must be completed by no later than December 31, 2021, and for travel
    and lodging expenses of Licensee personnel to/from/in the United States (but for technology transfer/technical support/R&D
    purposes only, and to be expended by no later than December 31, 2021, all of such services and expenses together not to exceed
    [***] in the aggregate. Any availability of the account which has not been so used by Licensee by December 31, 2021 shall
    cease to be available in any way to Licensee.

 

Article
7 Obligation to Pay Royalties and Net Sales Payments

 

	7.1	Licensee
    will be responsible to pay to Qualigen, on a semi-annual calendar basis, a royalty or Net Sales Payment (as applicable) of
    2.0% (but only 1.8% for Products using or benefitting from only Qualigen Technology and not using or benefitting from any
    valid claims of any Licensed Patents or Transferred Patents) of the worldwide Net Sales, by Licensee or Licensee’s affiliates,
    sublicensees or sublicense-assignees, of all FastPack 2.0 consumables Products and FastPack generation 1.0, IP and PRO Products
    produced by, for or pursuant to rights granted directly or indirectly by Licensee. (Provided, that for the first [***] of
    worldwide Net Sales, on a cumulative basis, the royalty/Net Sales Payment rate shall be 4.1%.) Such payment shall be made
    (and shall be accompanied by a customary royalty/Net Sales Payment report) no later than the 40th day after the
    end of the applicable semi-annual calendar period.

 

    	7

     

    

 

	7.2	Licensee
    has no obligation to pay any royalty or Net Sales Payment after the twentieth anniversary of the Effective Date.

 

	7.3	Licensee
    agrees to keep (and Licensee agrees to cause its affiliates, sublicensees and sublicense-assignees to keep) complete and accurate
    books and records pertaining to Net Sales of Products for a period of at least three years after the relevant payment is owed
    to Qualigen pursuant to this Agreement. Without limitation, it is required that such books and records be in sufficient detail
    to identify Licensee’s affiliates, sublicensees and sublicense-assignees and confirm the accuracy of royalty and Net
    Sales Payment calculations made hereunder. The record-keeping obligations and inspection rights in this Section 7.3
    supplement, and do not replace or supersede, any similar rights or obligations hereunder.

 

	7.4	Annual
    Report. Within 45 days after each anniversary of the Effective Date, Licensee shall deliver to Qualigen a written report,
    in a form reasonably acceptable to Qualigen, detailing the progress of Licensee’s (and its affiliates, sublicensees
    and sublicense-assignees’) research, development, and commercialization activities related to the Products, during the
    previous 12-month period, together with the outlook as to such research, development, and commercialization activities for
    the upcoming 12-month period (including good faith projections of royalties/Net Sales Payments for the upcoming 12-month period).
    Such report shall also provide reasonable detail for the Net Sales (if any) during such previous 12-month period.

 

	7.5	Records
    Examination (“Audit”).

 

	 	a.	Licensee
    agrees to (and agrees to cause each of its affiliates, sublicensees and sublicense-assignees to) upon written request of Qualigen
    permit its books and records to be examined no more than once per calendar year by an independent certified public accountant
    selected by Qualigen to verify the accuracy of the royalties/Net Sales Payments, upon written notice given at least ten working
    days in advance. Any such examiner shall enter into a reasonable and customary confidentiality agreement before commencing
    any such examination and shall not disclose Licensee’s Confidential Information to Qualigen, except as is required to
    verify the accuracy of the royalties/Net Sales Payments. Such examination is to be made during normal business hours and may
    cover: (i) the books and records for sales made (and corresponding Permitted Deductions) in any calendar year ending not more
    than three years before the date of such request, and (ii) only those periods that have not been subject to a prior examination.
    Such examination shall be at the expense of Qualigen, except in the event that the results of the examination reveal an underpayment
    of royalties/Net Sales Payments by Licensee of 5% or more over the period being examined, in which case the reasonable costs
    and expenses of such examination shall be paid (or reimbursed to Qualigen, if such amounts have already been paid) by Licensee.
    If the examination establishes that Licensee underpaid any amounts due hereunder, then Licensee agrees to pay to Qualigen
    such deficiency within 20 days after Licensee’s receipt of a written report thereof, including interest thereon, and,
    if applicable pursuant to the previous sentence, the costs and expenses of the examination. The results of any such examination
    shall be Licensee’s Confidential Information.

 

    	8

     

    

 

	 	b.	Licensee
    specifically agrees to cause each respective applicable affiliate, sublicensee and sublicense-assignee to upon written request
    of Qualigen permit its books and records to be examined no more than once per calendar year by an independent certified public
    accountant selected by Qualigen to verify the accuracy of the royalties/Net Sales Payments, upon written notice given at least
    seven working days in advance. Any such examiner shall enter into a reasonable and customary confidentiality agreement before
    commencing any such examination and shall not disclose the affiliate/ sublicensee/sublicense-assignee’s Confidential
    Information to Qualigen, except as is required to verify the accuracy of the royalties/Net Sales Payments. Such examination
    is to be made during normal business hours and may cover: (i) the books and records for sales made (and corresponding Permitted
    Deductions) in any calendar year ending not more than three years before the date of such request, and (ii) only those periods
    that have not been subject to a prior examination. Such examination shall be at the expense of Qualigen, except in the event
    that the results of the examination reveal an underpayment of royalties/Net Sales Payments by Licensee of 5% or more over
    the period being examined, in which case the reasonable costs and expenses of such examination shall be paid (or reimbursed
    to Qualigen, if such amounts have already been paid) by Licensee. If the examination establishes that Licensee underpaid any
    amounts due hereunder, then Licensee agrees to pay to Qualigen such deficiency within 20 days after Licensee’s receipt
    of a written report thereof, including interest thereon, and, if applicable pursuant to the previous sentence, the costs and
    expenses of the examination.

 

Article
8 Representation and Warranties

 

	8.1	Qualigen
    represents and warrants to Licensee that, as of the Effective Date:

 

	 	a.	it
    has all requisite legal right, power, and authority to execute and deliver this Agreement and to perform all of its obligations
    under and grant all rights in accordance with this Agreement, and it has received all necessary approvals from its officers,
    directors and shareholders in accordance with the law and any corporate governance documents applicable to Qualigen;

 

	 	b.	it
    has good title to the Licensed Patents and the Qualigen Technology (including, without limitation, all right, title, and interest
    in the Licensed Patents and the Qualigen Technology and the right to sue for past, present and future infringements thereof);
    it has the legal right to grant the license of the Licensed Patents and the Qualigen Technology and transfer the Transferred
    Patents;

 

	 	c.	it
    has not entered and shall not enter into any agreement that would materially impair or conflict with its obligations hereunder;
    and

 

    	9

     

    

 

	 	d.	performance
    of this Agreement does not and will not conflict with or result in a breach of any agreement to which it is bound and will
    not violate any applicable law or regulation.

 

	8.2	Licensee
    represents and warrants to Qualigen that, as of the Effective Date:

 

	 	a.	it
    has all requisite legal right, power, and authority to execute and deliver this Agreement and to perform all of its obligations
    under and grant all rights in accordance with this Agreement, and it has received all necessary approvals from its officers,
    directors and shareholders in accordance with law and any corporate governance documents applicable to Licensee;

 

	 	b.	it
    has not entered and shall not enter into any agreement that would materially impair or conflict with its obligations hereunder;
    and

 

	 	c.	performance
    of this Agreement does not and will not conflict with or result in a breach of any agreement to which it is bound and will
    not violate any applicable law or regulation.

 

Article
9 Indemnity 

 

	9.1	Indemnification
    of Licensee. Subject to Section 9.3 below, Qualigen agrees to indemnify, hold harmless and defend Licensee and
    its Affiliates, and each of their respective directors, officers, shareholders, members, partners, beneficiaries, employees
    and agents (each a “Licensee Indemnitee”) from and against any and all losses, damages, liabilities, judgments,
    settlements, penalties, fines, costs and expenses (including the reasonable fees, costs and expenses of attorneys and other
    professionals) (collectively, “Losses”) payable to third parties, incurred by Licensee Indemnitees in connection
    with any and all suits, actions, investigations, claims or demands of a third party (collectively, “Third Party Claims”)
    relating to or arising from (a) Qualigen’s Exclusive license of the Licensed Patents and the Qualigen Technology, and
    transfer of Transferred Patents under this Agreement; (b) Qualigen’s breach of this Agreement, including without limitation
    any of its covenants, representations and warranties set forth herein; (c) any breach or violation of any applicable law or
    regulation by Qualigen or its affiliates or its or their officers, directors, employees or agents, in connection with the
    activities contemplated by this Agreement; or (d) the grossly negligent or willful misconduct of Qualigen or its affiliates
    or its or their officers, directors, employees or agents; and for each of subsections (a)-(d), all except to the extent that
    such Losses are primarily caused by a Licensee Indemnitee’s breach of any applicable law or regulation, breach of this
    Agreement, gross negligence or willful misconduct.

 

    	10

     

    

 

	9.2	Indemnification
    of Qualigen. Subject to Section 9.3 below, Licensee agrees to indemnify, hold harmless and defend Qualigen and
    its Affiliates, and each of their respective directors, officers, shareholders, members, partners, beneficiaries, employees
    and agents (each a “Qualigen Indemnitee”) from and against all Losses payable to Third Parties, incurred
    by Qualigen Indemnitees arising out of or resulting from Third Party Claims relating to or arising from (a) Licensee’s
    (or its affiliates’ sublicensees’ sublicense-assignees’ or contractors’) manufacture, use, handling,
    promotion, marketing, distribution, importation, sale or offering for sale of Products (including without limitation injuries
    or death to humans, and including without limitation claims based on negligence, warranty, strict liability or any other theory
    of product liability or a violation of any applicable law or regulation); (b) Licensee’s breach of this Agreement, including
    without limitation any of its covenants, representations and warranties set forth herein; (c) any breach or violation of any
    applicable law or regulation by Licensee or its affiliates or its or their respective officers, directors, employees or agents,
    in connection with the activities contemplated by this Agreement, or (d) the grossly negligent or willful misconduct of Licensee
    or its affiliates or its or their respective officers, directors, employees or agents; and for each of subsections (a)-(d),
    all except to the extent that such Losses are primarily caused by a Qualigen Indemnitee’s breach of any applicable law
    or regulation, breach of this Agreement, gross negligence or willful misconduct.

 

	9.3	Indemnification
    Procedure. The Party or other Indemnitee intending to claim indemnification under this Article 9 (an “Indemnified
    Party”) shall promptly notify the opposed Party (Licensee or Qualigen, as the case may be) (the “Indemnifying
    Party”) of any Third Party Claim in respect of which the Indemnified Party intends to claim such indemnification
    (provided, that no delay or deficiency on the part of the Indemnified Party in so notifying the Indemnifying Party will relieve
    the Indemnifying Party of any liability or obligation under this Agreement except to the extent the Indemnifying Party has
    suffered actual prejudice directly caused by the delay or other deficiency), and (unless the Indemnified Party reasonably
    determines, and notifies the Indemnifying Party of such determination, that the Indemnifying Party lacks the financial wherewithal
    to properly conduct such defense) the Indemnifying Party shall assume the defense thereof (with counsel selected by the Indemnifying
    Party and reasonably satisfactory to the Indemnified Party) whether or not such Third Party Claim is rightfully brought; provided,
    however, that an Indemnified Party shall have the right to retain its own counsel and participate in the defense thereof,
    with the fees and expenses to be paid at such Indemnified Party’s own expense (unless the Indemnifying Party does not
    assume the defense or unless a representation of both the Indemnified Party and the Indemnifying Party by the same counsel
    would be inappropriate due to the actual or potential differing interests between them, in which case the reasonable fees
    and expenses of counsel retained by the Indemnified Party shall be paid by the Indemnifying Party). Provided, that in no event
    shall the Indemnifying Party be required to pay for more than one separate counsel no matter the number or circumstances of
    all Indemnified Parties. If the Indemnifying Party shall fail to assume in a timely manner the defense of and reasonably defend
    such Third Party Claim (or if the Indemnified Party reasonably determines, and notifies the Indemnifying Party of such determination,
    that the Indemnifying Party lacks the financial wherewithal to properly conduct such defense), the Indemnified Party shall
    have the right to retain or assume control of such defense and the Indemnifying Party shall pay (as incurred and on demand)
    the reasonable fees and expenses of counsel retained by the Indemnified Party and all other reasonable expenses of investigation
    and litigation. The Indemnifying Party shall not be liable for the indemnification of any Third Party Claim settled (or resolved
    by consent to the entry of judgment) by the Indemnified Party without the written consent of the Indemnifying Party, unless
    (in the scenario where the Indemnifying Party shall fail to assume in a timely manner the defense of and reasonably defend
    such Third Party Claim or in the scenario where the Indemnified Party reasonably determines, and notifies the Indemnifying
    Party of such determination, that the Indemnifying Party lacks the financial wherewithal to properly conduct such defense)
    the Indemnifying Party’s written consent is unreasonably withheld, conditioned or delayed. Also, if the Indemnifying
    Party shall control the defense of any such Third Party Claim, the Indemnifying Party shall have the right to settle such
    Third Party Claim; provided, that the Indemnifying Party agrees to obtain the prior written consent (which shall not be unreasonably
    withheld, conditioned or delayed) of the Indemnified Party before entering into any settlement of (or resolving by consent
    to the entry of judgment upon) such Third Party Claim unless (A) there is no finding or admission of any violation of any
    applicable law or regulation or any violation of the rights of any person or entity by an Indemnified Party, no requirement
    that the Indemnified Party admit fault or culpability, and no adverse effect on any other claims that may be made by or against
    the Indemnified Party and (B) the sole relief provided is monetary damages that are paid in full by the Indemnifying Party
    and such settlement does not require the Indemnified Party to take (or refrain from taking) any action.

 

    	11

     

    

 

	 	Regardless of who controls the defense, the
    other Party hereto agrees to reasonably cooperate in the defense as may be requested. Without limitation, each Party hereto
    which is not the Indemnifying Party and (if different) the Indemnified Party, and their respective directors, officers, advisers,
    agents and employees, shall cooperate fully with the Indemnifying Party and its legal representatives in the investigation
    and defense of any Third Party Claim.

 

	9.4	Expenses.
    As the Parties intend complete indemnification, all reasonable costs and expenses of enforcing any provision of this Article
    9 shall also be reimbursed by the Indemnifying Party.

 

	9.5	Insurance.
    Each Party agrees to have and maintain such types and amounts of liability insurance as is normal and customary in the industry
    generally for parties similarly situated, and agrees to upon request provide the other Party with a copy of its policies of
    insurance in that regard, along with any amendments and revisions thereto, and agrees to comply with any reasonable request
    to have the (requesting) Party named as an additional insured thereon.

 

	9.6	No
    Indirect Liability. Except with respect to: (a) a Party’s indemnification obligations as set forth in Article
    9, (b) breach of Article 12, or (c) intentional misconduct or willful and knowing breach, in no event shall a Party
    or its directors, officers, employees, consultants or agents be responsible or liable in connection with this Agreement for
    any indirect, special, punitive, incidental or consequential damages or lost profits, lost savings, lost business or interruption
    of business to the other Party or its licensees, agents, or any other individual or entity regardless of the form of action
    or legal theory and whether in contract, tort, strict liability or otherwise, and regardless of whether the person or entity
    may have been advised of the possibility of such damage.

 

    	12

     

    

 

Article
10 Assignment 

 

	10.1	Permitted
    Assignment by Licensee. Licensee may assign this Agreement as part of a sale, regardless of whether such a sale occurs
    through an asset sale, equity sale, merger or other combination, or any other transfer of:

 

	 	(A)	Licensee’s
    entire business; or
	 	 	 
	 	(B)	the
    part of Licensee’s business that exercises all rights granted under this Agreement.

 

	10.2	Conditions
    of Assignment. Before any assignment by Licensee, the following conditions must be met:

 

	 	(A)	Licensee
    must receive Qualigen’s consent, such consent shall not be unreasonably withheld; and
	 	 	 
	 	(B)	Licensee
    must give Qualigen thirty (30) days prior written notice of the assignment, including the new assignee’s contact information;
    and
	 	 	 
	 	(C)	the
    new assignee must agree in writing to Qualigen to be bound by this Agreement.

 

	10.3	After
    the Assignment. Upon a permitted assignment of this Agreement by Licensee, Licensee will be released of liabilities under
    this Agreement (except for liabilities arising or accrued before the assignment) and the term “Licensee” in this
    Agreement will mean the assignee.

 

	10.4	Bankruptcy.
    In the event of a bankruptcy of Licensee, assignment is permitted only to a party that can provide adequate assurance of future
    performance, including diligent development and sales of FastPack 2.0 Product.

 

	10.5	Permitted
    Assignment by Qualigen. Qualigen may assign this Agreement as part of a sale, regardless of whether such a sale occurs
    through an asset sale, equity sale, merger or other combination, or any other transfer of:

 

	 	(A)	Qualigen
    or Qualigen’s entire business; or
	 	 	 
	 	(B)	the
    part of Qualigen’s business that exercises all rights granted under this Agreement.

 

	 	Before any such assignment, the assignee must agree in writing
    to Licensee to be bound by this Agreement. (An assignment by Qualigen of merely the income stream from this Agreement shall
    not be considered to be an assignment of this Agreement.)

 

Article
11 Applicable Laws and Dispute Resolution 

 

	11.1	Governing
    Law. The formation of this Technology Transfer Agreement, its validity, interpretation, execution and settlement of any
    disputes arising hereunder shall be governed by, and construed in accordance with, the Laws of Hong Kong.

 

	11.2	Dispute
    Resolution by Arbitration. Any dispute between the Parties regarding this Agreement will be settled by arbitration at
    the Hong Kong International Arbitration Centre (“HKIAC”) in accordance with the HKIAC Arbitration Rules
    and Procedures.

 

    	13

     

    

 

	11.3	Request
    for Arbitration. Either Party may request for arbitration. Unless Qualigen and Licensee mutually agree in writing on a
    third party arbitrator within thirty (30) days of the arbitration request, HKIAC shall designate an arbitrator pursuant to
    the HKIAC Arbitration Rules and Procedures. The arbitrator’s decision will be final and non-appealable and may be entered
    in any court with the requisite jurisdiction.

 

	11.4	Place
    and Language of Arbitration. The arbitration will be held in Hong Kong unless the Parties mutually agree in writing to
    another place. The language of the arbitration shall be in English.

 

Article
12 Confidentiality 

 

	12.1	Definition.
    Qualigen and Licensee each recognize that a Party (the “Disclosing Party”) may from time to time elect
    to or may be required by express provisions of this Agreement to provide its Confidential Information (as defined herein)
    to the other Party to this Agreement (the “Receiving Party”) or to the Receiving Party’s Representatives.
    It shall be deemed for purposes hereof that the Disclosing Party’s Confidential Information is highly valuable, and
    that untoward disclosure of or use of such Confidential Information would be highly prejudicial to the Disclosing Party. The
    disclosure and use of Confidential Information shall be governed by the provisions of this Article 12. For purposes
    of this Agreement, “Confidential Information” means (a) all information disclosed by the Disclosing Party
    to the Receiving Party during the Term and which reasonably ought to have been understood to be confidential and/or non-public
    information at the time disclosed to the Receiving Party, or which is designated in writing by the Disclosing Party as “Confidential”
    (or equivalent), or which when disclosed orally or visually to the Receiving Party is declared to be confidential by the Disclosing
    Party and is so confirmed in a writing delivered to the Receiving Party within 30 days after such oral or visual disclosure,
    and (b) all such information disclosed before the Effective Date.

 

	 	a.	Third
    Party Information. The Parties acknowledge that the defined term “Confidential Information” (of a Disclosing
    Party) shall include not only the Disclosing Party’s own Confidential Information but also Confidential Information
    of an Affiliate or of a third party which is in the possession of such Disclosing Party.

 

	12.2	Obligations.
    Each Party agrees to take such action to preserve the confidentiality of the other Party’s Confidential Information
    as it would customarily take to preserve the confidentiality of its own similar Confidential Information (but in no event
    less than a reasonable standard of care). No Party shall use Confidential Information of the other Party except as expressly
    allowed by and for the purposes of this Agreement. Each Party agrees and acknowledges that it may disclose the other Party’s
    Confidential Information to its own (or its Affiliates’) directors, officers, employees, consultants, third party service
    providers, attorneys, accountants, and agents, but in each case only if and to the extent necessary to carry out the Party’s
    responsibilities under this Agreement or in accordance with the exercise or enforcement of the Party’s rights under
    this Agreement, and such disclosure shall be limited to the maximum extent possible consistent with such responsibilities
    and rights. Except as set forth in the foregoing sentence, no Party shall disclose Confidential Information of the other Party
    to any person or entity without the other Party’s prior written consent, except that a Party may, to the extent necessary,
    disclose the terms and existence of this Agreement to its actual and bona fide potential investors on a confidential basis
    in connection with an actual or potential investment. In all events, however, any and all disclosure shall be pursuant to
    the terms of a written non-disclosure/nonuse agreement with terms and conditions at least as protective of the Confidential
    Information as those set forth in this Article 12 (or, in the case of attorneys, to a duty and obligation of nondisclosure/nonuse
    pursuant to the applicable rules of the profession). The Receiving Party which disclosed Confidential Information of the other
    to any third party (or to any Affiliate or other person or entity) shall be responsible and liable to the Disclosing Party
    for any disclosure or use or other actions and omissions by such third party/Affiliate/other person/entity (or its disclosees)
    which would be a breach of any of the Receiving Party’s obligations under this Agreement if such act were done or omitted
    by the Receiving Party itself; and any such act or omission by a Representative shall be deemed a breach of this Agreement
    by the Receiving Party. For avoidance of doubt: this Section 12.2 applies even to Representatives who, after the disclosure
    of Confidential Information to them by or for the Receiving Party, cease to be Representatives; and it also applies to every
    Representative whether or not such Representative is authorized to obtain or use Confidential Information under this Agreement.

 

    	14

     

    

 

	12.3	Exceptions.
    The obligations under this Article 12 shall not apply to any information, or portion thereof, to the extent the Receiving
    Party can demonstrate by competent evidence that such information:

 

	 	a.	is
    (at the time of disclosure) or becomes (after the time of disclosure) generally known to the public through no fault of and
    or without violation of any duty of confidentiality of the Receiving Party or its disclosees;

 

	 	b.	was
    at the time of disclosure already in the Receiving Party’s possession with no duty of confidentiality, and such prior
    possession can be demonstrated by the Receiving Party’s competent, contemporaneous written evidence (provided that this
    exception shall not apply to Confidential Information which was “already in the Receiving Party’s possession”
    by virtue of the fact that it had been disclosed between Parties before the date of this Agreement in anticipation of an agreement
    such as this Agreement; and in such a scenario, the Confidential Information so previously disclosed shall be subject to the
    obligations under this Article 12);

 

	 	c.	is
    rightfully received by the Receiving Party on a non-confidential basis from a third party who is entitled to disclose it without
    breaching any confidentiality obligation (directly or indirectly) to the Disclosing Party and who, to the Receiving Party’s
    best knowledge, did not obtain such information, directly or indirectly, from the Disclosing Party; or

 

	 	d.	is
    independently developed by or for the Receiving Party, in either case solely by personnel without any access to or use of
    the Confidential Information provided by the Disclosing Party, as shown by Receiving Party’s contemporaneous written
    records.

 

    	15

     

    

 

	12.4	Disclosure
    Pursuant to Law or Order. The Receiving Party may disclose Confidential Information of the Disclosing Party pursuant to
    a requirement to so disclose under any applicable law or regulation or a valid order of a court or arbitration tribunal, provided
    that the Receiving Party: (a) provides the Disclosing Party with prompt notice of such disclosure requirement if legally permitted,
    (b) affords the Disclosing Party an opportunity to oppose or limit, or secure confidential treatment for such required disclosure
    (and reasonably cooperates with such effort) and (c) taking into account the results of all efforts contemplated by subsection
    (b) above, discloses only that portion of the Confidential Information that the Receiving Party is legally required to disclose.
    For the avoidance of doubt, the Confidential Information disclosed pursuant to said applicable law or regulation or legal
    process remains confidential unless and until it falls under one of the exceptions set forth in Sections 12.3(a)-(d).

 

	 	In
    addition, the Receiving Party may disclose the Confidential Information of the Disclosing Party to the extent (and solely
    to the extent) that such disclosure is reasonably necessary to allow the Receiving Party to enforce its rights hereunder,
    subject to principles equivalent to those in the preceding paragraph of this Section 12.4.

 

Article
13 Notices

 

Any
notice, report, request, approval or consent required or permitted to be given under this Agreement shall be in writing and shall
be addressed as follows:

 

If
to Qualigen:

 

Michael
S. Poirier

President
& CEO

Qualigen,
Inc.

2042
Corte del Nogal, Suite B

Carlsbad,
California 92011

USA

 

If
to Yi Xin Zhen Duan Jishu (Suzhou) Ltd. (翊新诊断技术(苏州)有限公司)

 

Peng
Zhou

Yi
Xin Zhen Duan Jishu (Suzhou) Ltd. (翊新诊断技术(苏州)有限公司)

Room
301, 302, Building 9, No. 188 Fu Chung Jiang Lu

Suzhou
High Technology Zone

Suzhou

(中国苏州富春江路188号9号楼301,302室)

People’s
Republic of China

 

or,
in each case, to the most recent address, specified by written notice, given to the sender pursuant to this Section.

 

    	16

     

    

 

Any
such written notice, report, request, approval or consent shall be deemed to have been given on the earliest of (a) actual receipt,
or (b) if personally delivered to the Party to whom notice is to be given, the date of delivery, or (c) if sent by email, the
date of transmission, if sent to such email address before 5:00 p.m. at the location of receipt on a business day, or the first
business day after the date of transmission, if sent to such email address at or after 5:00 p.m. at the location of receipt on
a business day or on a day that is not a business day, or (d) if sent by overnight courier and addressed as set forth above, the
next business day after the date of deposit with such courier (by the courier’s stated time for enabling next-business-day
delivery), or if deposited after such stated time shall be deemed to be the second business day after the date of deposit, or
(e) if sent in the United States by United States certified mail, return receipt requested, postage prepaid and addressed as set
forth above, on the fifth business day after such mailing.

 

Article
14 Effectiveness and Termination

 

	14.1	Legal
    Effect of the Agreement. This Agreement shall enter into legal effect on the date when the Parties duly execute this Agreement
    as first set forth above.

 

	14.2	Termination.
    This Agreement may be terminated by:

 

	 	a.	an
    agreement in writing to terminate signed by the Parties;

 

	 	b.	a
    non-breaching Party by giving seven (7) days written notice with immediate effect to the other Party in the event (i) the
    other Party commits a material breach of the provisions of this Agreement and fails to remedy the same within thirty (30)
    days of receipt of written notice of such breach; (ii) the commencement of bankruptcy proceedings by or against the other
    Party; or (iii) any representation or warranty made by the other Party herein is false, incorrect, or misleading in any material
    respect.

 

	14.3	Damages.
    The termination of this Agreement shall not limit any right of either Party to seek damages or indemnification from the
    other Party for any breach of this Agreement by such other Party prior to such termination.

 

Article
15 Miscellaneous

 

	15.1	As
    between Qualigen and Licensee, and subject to the provisions of this Agreement, Licensee shall be responsible for and have
    sole and absolute decision-making authority with respect to all aspects of non-clinical and clinical development of and all
    manufacturing and commercialization of each respective Product; and Licensee shall be solely responsible for compliance with
    all applicable laws and regulations and all costs and expenses related to its development, manufacturing and commercialization
    of the Products, including without limitation costs and expenses associated with all preclinical activities and clinical trials,
    and all regulatory filings and proceedings relating to the Products, and all commercialization of Products.

 

	15.2	Licensee
    agrees that with respect to each unit or package of Products sold in a given country, Licensee shall (a) comply with all applicable
    laws and regulations with respect to patent marking in such country as to the applicable Licensed Patents and (b) comply with
    the customary patent marking practices of such country as to the applicable Licensed Patents.

 

    	17

     

    

 

	15.3	Each
    of the Parties hereto is an independent contractor and nothing in this Agreement is intended or shall be deemed to constitute
    a partnership, agency, employer-employee or joint venture relationship between the Parties. No Party shall have the right
    to, and each Party agrees not to purport to, incur any debts or make any commitments or contracts for the other.

 

	15.4	This
    Agreement is made for the benefit of the Parties and their respective lawful successors and assigns and is legally binding
    on them. This Agreement may only be amended or waived by a written instrument signed between the Parties.

 

	15.5	If
    any provision of this Agreement should be or become fully or partly invalid, illegal or unenforceable in any respect for any
    reason whatsoever, the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any
    way be affected or impaired.

 

	15.6	This
    Agreement and its appendix constitute the whole and entire agreement between the Parties with respect to the subject matter
    hereof and shall supersede any other previous or contemporaneous oral or written agreements, commitments, understandings or
    communications between the Parties, including but not limited to the Letter of Intent. Each Party has made no promises, representations,
    warranties, covenants, or undertakings, other than those expressly set forth herein, to induce the other Party to execute
    and deliver this Agreement, and each Party acknowledges that it has not executed or delivered this Agreement in reliance upon
    any such promise, representation, or warranty, covenant or undertaking not contained herein.

 

	15.7	Licensee
    is responsible and liable to Qualigen for all actions and omissions of Licensee’s affiliates that would be a breach
    of any of Licensee’s obligations under this Agreement if such action were done or omitted by Licensee hereunder.

 

	15.8	Licensee
    shall ensure that all of its sublicensees shall comply with the terms and conditions of this Agreement, and Licensee shall
    be and remain fully responsible to Qualigen for the compliance by such sublicensees with the terms and conditions of this
    Agreement as if such sublicensees were Licensee hereunder.

 

	15.9	References
    in this Agreement to any “FastPack” products (of any person or entity) shall be understood and applied so as not
    to require that such products, in order to be within the coverage of such reference, actually be marketed under the “FastPack”
    brand.

 

	15.10	The
    Parties agree to cooperate with one another and use reasonable efforts to avoid or reduce tax withholding or similar obligations
    in respect of royalties/Net Sales Payments and other payments made by Licensee to Qualigen under this Agreement. To the extent
    Licensee is required to withhold taxes on any payment to Qualigen under this Agreement, Licensee shall pay the amounts of
    such taxes to the proper governmental authority in a timely manner and promptly transmit to Qualigen official receipts issued
    by the appropriate taxing authority and/or an official tax certificate, or such other evidence as Qualigen may reasonably
    request, to establish that such taxes have been paid. Qualigen shall in due time provide Licensee any tax forms that may be
    reasonably necessary in order for Licensee to not withhold tax or to withhold tax at a reduced rate under an applicable bilateral
    income tax treaty with respect to such payment, and Licensee shall utilize such forms to such effect. Each Party shall provide
    the other with reasonable assistance to enable the recovery, as permitted by applicable law, of withholding taxes, value added
    taxes, or similar obligations resulting from payments made under this Agreement, such recovery to be for the benefit of the
    Party bearing such withholding tax or value added tax. Qualigen shall indemnify and hold Licensee harmless from and against
    any liability for taxes arising from any failure by Licensee to withhold required taxes, and against any penalties or interest
    arising from any failure by Licensee (at the express request of Qualigen) to withhold or by Licensee reduction (at the express
    request of Qualigen) in its withholding.

 

    	18

     

    

 

	15.11	Licensee
    shall prosecute and maintain the Transferred Patents in good faith and, upon termination of this Agreement for any reason,
    shall assign the Transferred Patents and the China FastPack Trademark to Qualigen. Upon the reasonable request by Qualigen,
    the Licensee shall cooperate with Qualigen to handle the relevant governmental procedures for the transfer of the Transferred
    Patents and the China FastPack Trademark, and execute and provide the necessary documents required for the governmental procedures.
    The reasonably incurred cost for the Licensee’s cooperation and the governmental procedures for the transfer of the
    Transferred Patents and the China FastPack Trademark shall be borne by Qualigen.

 

	15.12	Notwithstanding
    anything in this Agreement to the contrary, Licensee shall have no rights to develop, make, have made, manufacture, use, import,
    market, sell, distribute or commercialize cellular fibronectin (cFN) test kits for FastPack PRO analyzers to or for Prediction
    Sciences or its affiliates, licensees or distributors.

 

	15.13	The
    language used in this Agreement is the language chosen by the Parties to express their mutual intent, and no provision of
    this Agreement shall be interpreted for or against any Party because that Party or its attorney drafted the provision.

 

	15.14	The
    English language version of this Agreement shall control over any version in any other language.

 

	15.15	This
    Agreement is executed in counterparts, with each Party holding a fully-executed set of signatures.

 

[Signature
page follows]

 

    	19

     

    

 

IN
WITNESS WHEREOF, each Party hereto has caused this Technology Transfer Agreement to be executed by its duly authorized representative
at the date first set forth above.

 

	Qualigen,
    Inc.	 
	 	 	 
	 	/s/
    Michael S. Poirier	 
	Name:	Michael
    S. Poirier	 
	Title:	President
    & CEO	 

 

    	20

     

    

 

IN
WITNESS WHEREOF, each Party hereto has caused this Technology Transfer Agreement to be executed by its duly authorized representative
at the date first set forth above.

 

	Yi
    Xin Zhen Duan Jishu (Suzhou) Ltd. (翊新诊断技术(苏州)有限公司)	 
	 	 	 
	 	/s/
    Peng Zhou	 
	Name:	Peng
    Zhou	 
	Title:	President
    & CEO	 

 

    	21

     

    

 

Appendix
1(a) List of the Licensed Patents

 

[**
The contents of Exhibit 1(a) have been omitted pursuant to Section 601(a)(5) of Regulation S-K. **]

 

    	22

     

    

 

Appendix
1(b) List of the Transferred Patents

 

Qualigen
Patents – Diagnostics

 

	Number	 	Title	 	Type	 	Status	 	Country	 	Product	 	Expires
	201730589986.5	 	Sample
    Port (FastPack 2.0) Qualigen – Poirier, et al.	 	Design	 	Pending	 	China	 	FastPack
    2.0	 	 
	201730590489.7	 	Reagent
    Pack (FastPack 2.0) Qualigen – Poirier, et al.	 	Design	 	Pending	 	China	 	FastPack
    2.0	 	 

 

    	23

     

    

 

Qualigen
Joint Patents with Gen-Probe Incorporated (Hologic, Inc.) – Diagnostics

 

	Number	 	Title	 	Type	 	Status	 	Country	 	Product	 	Expires
	ZL200880103839.0	 	Instrument
    and Receptacles for use in Performing Processes	 	Utility	 	Issued	 	China	 	FastPack
    Molecular	 	Jun
    19, 2028
	ZL201310323761.6	 	Instrument
    and Receptacles for use in Performing Processes	 	Utility	 	Issued	 	China	 	FastPack
    Molecular	 	Jun
    20, 2028

 

    	24

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