Document:

EX-10.11

 Exhibit 10.11 

ULTHERA, INC. 
 MATTHEW
E. LIKENS AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This Amended and Restated Employment Agreement (this
“Agreement”) is entered into effective as of May 12, 2014 (the “Effective Date”) by and between Ulthera, Inc., a Delaware corporation (the “Company”), and Matthew E. Likens
(“Executive”). This Agreement amends and restates in its entirety that certain employment agreement by and between Executive and the Company effective as of July 31, 2006 (the “Prior Agreement”).
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows. 

1. Duties and Scope of Employment. 

(a) Positions and Duties. Following the Effective Date, Executive will continue to serve as the Chief Executive Officer of the Company.
Executive will continue to render such business and professional services in the performance of his duties, consistent with Executive’s position within the Company, as will reasonably be assigned to him by the Company’s Board of Directors
(the “Board”). The period of Executive’s employment pursuant to this Agreement and the Prior Agreement is referred to herein as the “Employment Term,” which shall end on the date Executive resigns
or is otherwise terminated pursuant to the provisions of this Agreement. 
 (b) Obligations. During the Employment Term, Executive
will continue to perform his duties faithfully and to the best of his ability and will devote his full business efforts and time to the Company, and, for the duration of the Employment Term, Executive agrees to continue to not to actively engage in
any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior approval of the Board. 

2. At-Will Employment. The parties agree that Executive’s employment with the Company will continue to be “at-will”
employment and may be terminated at any time with or without cause or notice. Executive understands and agrees that neither his job performance nor promotions, commendations, bonuses or the like from the Company give rise to or in any way serve as
the basis for modification, amendment, or extension, by implication or otherwise, of his employment with the Company. 
 3. Compensation
and Benefits. 
 (a) Base Salary and Bonus. As of the Effective Date, the Company will continue to pay Executive an annual base
salary of $500,000 as compensation for his services (the “Base Salary”). The Base Salary will be paid periodically in accordance with the Company’s normal payroll practices and be subject to the usual, required
withholding. Executive’s salary will be subject to review and adjustments may be made based upon the Company’s normal performance review practices. Executive will continue to be eligible to participate in a bonus incentive plan at a target
award level of 70% of Base Salary, less applicable withholdings, contingent upon the achievement of mutually agreed-upon objectives determined in advance by the Board and Executive. The Board and Executive will work together to prepare a written
schedule of performance objectives underlying this bonus program. Each 

 
annual bonus, if any, will be paid promptly after the close of the applicable calendar year, and any such bonus will be deemed earned only if Executive remains an employee of the Company pursuant
to this Agreement on the date such bonus is actually paid. 
 (b) Equity Awards. Executive shall continue to be eligible to be
granted additional equity awards in accordance with the Company’s policies as in effect from time to time. 
 4. Employment Benefits
Generally. During the Employment Term, Executive will continue to be entitled to participate in the medical, dental, eye care and other health insurance benefit plans maintained by the Company of general applicability to other senior executives
of the Company. The Company reserves the right to cancel or change the plans and programs it offers to its employees at any time. 
 5.
Vacation. Executive will continue to be entitled to receive paid time off and holidays in accordance with the Company’s applicable policies. 

6. Expenses. The Company will continue to reimburse Executive for reasonable travel, entertainment or other expenses incurred by
Executive in the furtherance of or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. 

7. Severance; Termination. 

(a) Executive shall be eligible for the severance payments and benefits under the Company’s Change in Control Severance Plan, adopted by
the Board as of April 25, 2014 (the “Severance Plan”). If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, or compensation other than as provided
by the Severance Plan, except with respect to any equity award treatment as provided in a written agreement or plan with the Company. No amendment or termination of the Severance Plan shall impair any rights of or obligations to Executive under the
Severance Plan as in effect as of the Effective Date, unless Executive expressly consents in writing to such amendment or termination. 

(b) Upon termination of Executive’s employment for any reason, Executive shall be deemed to have resigned from all offices and
directorships, if any, then held with the Company or any of its affiliates, and, at the Company’s request, Executive shall execute such documents as are necessary or desirable to effectuate such resignations. 

8. Confidential Information. 

(a) Definition. During the Employment Term, Executive has and will receive and otherwise be exposed to Confidential Information.
“Confidential Information” means any and all technical and non-technical information that the Company provides Executive, or to which Executive obtains access, whether in graphic, written, electronic or oral form, whether
identified at the time of disclosure as confidential, or which by its context would reasonably be deemed to be confidential, including unpublished patent applications and other filings, trade secrets, and other proprietary information, as well as
any ideas, techniques, works of authorship, 

  
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models, inventions, know-how, processes, algorithms, software programs, software source documents, and formulae related to the current, future and proposed products and services of the Company,
and also any information concerning any research, experimental work, development, design details and specifications, engineering, financial information, purchasing, customer lists, investors, employees, business and contractual relationships,
business forecasts, sales and merchandising, marketing plans of the Company and information the Company provides regarding third parties. Confidential Information also includes all derivatives, improvements and enhancements to any of the above,
whether provided to Executive, or created or developed by Executive in the course of employment with the Company, and may also include information previously disclosed to the Company by a third party. 

(b) Restrictions on Use and Disclosure. Executive agrees that as between Executive and Company, the Confidential Information is the
sole, exclusive and extremely valuable property of Company. Accordingly, Executive agrees not to use the Confidential Information except in the performance of Executive’s authorized duties as an employee of the Company and not to disclose all
or any part of the Confidential Information in any form to any third party, either during or after the term of this Agreement, without the prior written consent of Company. In addition, Executive represents that during the Employment Term, including
prior to the Effective Date, Executive has not used the Confidential Information except in the performance of Executive’s authorized duties as an employee of the Company, and has not disclosed all or any part of the Confidential Information in
any form to any third party. Upon expiration or any termination of this Agreement, Executive agrees to cease using and to return to Company, or at Company’s sole option, destroy, all whole and partial copies and derivatives of the Confidential
Information in Executive’s possession. 
 (c) Exceptions. The obligations of confidentiality set forth in Section 8(b) will
not apply to the extent that it can be established by Executive beyond a reasonable doubt that such Confidential Information: (i) was generally available to the public or otherwise part of the public domain at the time of disclosure;
(ii) became generally available to the public or otherwise part of the public domain after its disclosure and other than through any act or omission of Executive; (iii) was already known to Executive, without confidentiality restrictions,
at the time of disclosure; or (iv) was disclosed to Executive, without confidentiality restrictions, by a third party who had no obligation not to disclose such information to others. 

9. Property of the Company. All notes, memoranda, reports, drawings, blueprints, manuals, materials, data, emails and other papers and
records of every kind which have or will come into Executive’s possession in the course of employment with the Company, relating to any Inventions (as defined below) or Confidential Information, shall be the sole and exclusive property of the
Company. This property shall be surrendered to the Company immediately upon termination of Executive’s employment with the Company, or upon request by the Company at any other time either during or after the termination of such employment.
Executive further agrees that in the event of termination of Executive’s employment with the Company, Executive will execute a Termination Certificate substantially in the form attached hereto as Exhibit A. 

  
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 10. Inventions. 

(a) Invention Assignment. Executive agrees that the Company shall be the owner of all right, title and interest in and to all ideas,
inventions, works of authorship, work product, deliverables, materials, and improvements (i) conceived, made, developed, reduced to practice, or worked on by Executive in the course of employment with the Company prior to the Effective Date or
(ii) that Executive conceives, makes, develops, reduces to practice, or works on in the course of employment with the Company after the Effective Date, and all patent, copyright, trademark, trade secret and other intellectual property rights
therein, whether now known or hereafter recognized in any jurisdiction (collectively, “Inventions”). Executive shall promptly disclose all Inventions in writing to the Company. All Inventions are work made for hire to the
extent permitted by applicable law, and to the extent such Inventions are not work made for hire, Executive hereby assigns to the Company all of Executive’s right, title and interest in and to any and all Inventions to the extent the assignment
of such Inventions is permitted under applicable law. Executive hereby waives any applicable moral rights in the Inventions. 
 (b)
Assistance. Executive agrees to execute all papers, including patent applications, invention assignments and copyright assignments, and otherwise agrees to assist the Company as reasonably required by the Company at the Company’s
reasonable expense to perfect in the Company the right, title and other interest in Inventions expressly granted to the Company under this Agreement. If the Company is unable for any reason, after reasonable effort, to secure Executive’s
signature on any document needed in connection with the actions specified above, Executive hereby irrevocably designates and appoints the Company as Executive’s agent and attorney-in-fact, which appointment is coupled with an interest, to act
for and, on Executive’s behalf, to execute, verify and file any such documents and to do all other lawfully permitted acts to further the purposes of the preceding paragraph with the same legal force and effect as if executed by Executive. 

11. Assignment. This Agreement will be binding upon and inure to the benefit of (a) the heirs, executors and legal representatives
of Executive upon Executive’s death and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the Company under the terms of this Agreement for all purposes. For this purpose,
“successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the
Company. None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted assignment, transfer,
conveyance or other disposition of Executive’s right to compensation or other benefits will be null and void. 
 12. Notices.
All notices, requests, demands and other communications called for hereunder will be in writing and will be deemed given (i) on the date of delivery if delivered personally, (ii) one (1) day after being sent by a well-established
commercial overnight service, or (iii) four (4) days after being mailed by registered or certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other
addresses as the parties may later designate in writing: 

  
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 If to the Company: 

Ulthera, Inc. 
 1840 South Stapley
Drive, Suite 200 
 Mesa, AZ 85204 

If to Executive: 
 At the last
residential address provided to the payroll service of the Company. 
 13. Severability. In the event that any provision hereof
becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement will continue in full force and effect without said provision. 

14. Arbitration. 
 (a)
General. In consideration of Executive’s service to the Company, its promise to arbitrate all employment related disputes and Executive’s receipt of the compensation, pay raises and other benefits paid to Executive by the Company,
at present and in the future, Executive agrees that any and all controversies, claims, or disputes with anyone (including the Company and any employee, officer, director, shareholder or benefit plan of the Company in their capacity as such or
otherwise) arising out of, relating to, or resulting from Executive’s service to the Company under this Agreement or otherwise or the termination of Executive’s service with the Company, including any breach of this Agreement, will be
subject to binding arbitration under the Arbitration Rules set forth in Arizona Code of Civil Procedure ARS 12-1501 (the “Rules”) and pursuant to Arizona law. Disputes which Executive agrees to arbitrate, and thereby agrees
to waive any right to a trial by jury, include any statutory claims under state or federal law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age
Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the Arizona Fair Employment and Housing Act, the Arizona Labor Code, claims of harassment, discrimination or wrongful termination and any statutory claims. Executive
further understands that this Agreement to arbitrate also applies to any disputes that the Company may have with Executive. 
 (b)
Procedure. Executive agrees that any arbitration will be administered by the American Arbitration Association (“AAA”) and that a neutral arbitrator will be selected in a manner consistent with its National Rules for
the Resolution of Employment Disputes. The arbitration proceedings will allow for discovery according to the rules set forth in the National Rules for the Resolution of Employment Disputes or Arizona Code of Civil Procedure. Executive agrees
that the arbitrator will have the power to decide any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication and motions to dismiss and demurrers, prior to any arbitration hearing. Executive
agrees that the arbitrator will issue a written decision on the merits. Executive also agrees that the arbitrator will have the power to award any remedies, including attorneys’ fees and costs, available under applicable law. Executive
understands the Company will pay for any administrative or hearing fees charged by the arbitrator or AAA except that Executive will pay the first $125.00 of any filing fees associated with any arbitration Executive initiates. Executive agrees that
the arbitrator 

  
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will administer and conduct any arbitration in a manner consistent with the Rules and that to the extent that the AAA’s National Rules for the Resolution of Employment Disputes conflict with
the Rules, the Rules will take precedence. 
 (c) Remedy. Except as provided by the Rules and this Agreement, arbitration will be the
sole, exclusive and final remedy for any dispute between Executive and the Company. Accordingly, except as provided for by the Rules and this Agreement, neither Executive nor the Company will be permitted to pursue court action regarding claims that
are subject to arbitration. Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator will not order or require the Company to adopt a policy not otherwise required by
law which the Company has not adopted. 
 (d) Availability of Injunctive Relief. In addition to the right under the Rules to petition
the court for provisional relief, Executive agrees that any party may also petition the court for injunctive relief where either party alleges or claims a violation of this Agreement. In the event either party seeks injunctive relief, the prevailing
party will be entitled to recover reasonable costs and attorneys’ fees. 
 (e) Administrative Relief. Executive understands that
this Agreement does not prohibit Executive from pursuing an administrative claim with a local, state or federal administrative body such as the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission or the
workers’ compensation board. This Agreement does, however, preclude Executive from pursuing court action regarding any such claim. 

(f) Voluntary Nature of Agreement. Executive acknowledges and agrees that Executive is executing this Agreement voluntarily and without
any duress or undue influence by the Company or anyone else. Executive further acknowledges and agrees that Executive has carefully read this Agreement and that Executive has asked any questions needed for Executive to understand the terms,
consequences and binding effect of this Agreement and fully understand it, including that Executive is waiving Executive’s right to a jury trial. Finally, Executive agrees that Executive has been provided an opportunity to seek the advice of an
attorney of Executive’s choice before signing this Agreement. 
 15. Code Section 409A. 

(a) The intent of the parties is that the payments and benefits under this Agreement comply with or be exempt from Section 409A of the
Code and the Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the Effective Date, (“Section 409A”)
and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. If the Company determines that any provision of this Agreement would cause Executive to incur any additional tax or interest under
Section 409A (with specificity as to the reason therefor), the Company and Executive shall take commercially reasonable efforts to reform such provision to try to comply with or be exempt from Section 409A through good faith modifications
to the minimum extent reasonably appropriate to conform with Section 409A, provided that any such modifications shall not increase the cost or liability to the Company. To the extent that any provision hereof is modified in order to
comply 

  
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with or be exempt from Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to
Executive and the Company of the applicable provision without violating the provisions of Section 409A. 
 (b) Expense
Reimbursements. To the extent that any reimbursements payable pursuant to this Agreement are subject to the provisions of Section 409A, any such reimbursements payable to Executive pursuant to this Agreement shall be paid to Executive no
later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Executive’s right to
reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 
 16. Integration. This
Agreement, together with the Severance Plan, Offer Letter and Standards of Conduct, represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether
written or oral, including, without limitation, the Prior Agreement. Executive agrees and acknowledges that this Agreement supersedes and replaces in its entirety the Prior Agreement. No waiver, alteration, or modification of any of the provisions
of this Agreement will be binding unless in writing and signed by duly authorized representatives of the parties hereto. 
 17. Waiver of
Breach. The waiver of a breach of any term or provision of this Agreement, which must be in writing, will not operate as or be construed to be a waiver of any other previous or subsequent breach of this Agreement. 

18. Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a part of this
Agreement. 
 19. Tax Withholding. All payments made pursuant to this Agreement will be subject to withholding of applicable taxes.

 20. Governing Law. This Agreement will be governed by the laws of the State of Arizona (with the exception of its conflict of laws
provisions). 
 21. Acknowledgment. Executive acknowledges that he has had the opportunity to discuss this matter with and obtain
advice from his private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement. 

22. Counterparts. This Agreement may be executed in counterparts, and each counterpart will have the same force and effect as an
original and will constitute an effective, binding agreement on the part of each of the undersigned. 
 (Remainder of Page
Intentionally Left Blank) 

  
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 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company
by their duly authorized officers, as of the day and year first above written. 
  

							
	 COMPANY:

ULTHERA, INC.
	 		 	
	 		 	
				
	By:	 	 /s/ Gregory D. Waller
	 	Date:	 	 5/12/2014

		 	Gregory D. Waller	 		 	
				
	Title:	 	 Chief Financial Officer
	 		 	
			
	EXECUTIVE:	 		 	
				
	By:	 	 /s/ Matthew E. Likens
	 	Date:	 	 5/12/2014

		 	Matthew E. Likens	 		 	

 [SIGNATURE PAGE TO MATTHEW E. LIKENS AMENDED AND RESTATED 

EMPLOYMENT AGREEMENT] 

 EXHIBIT A 

Termination Certificate 
 I, the
undersigned, hereby certify that I do not have in my possession, nor have I failed to return, any documents or materials relating to the business of Ulthera, Inc. or its affiliates (the “Company”), or copies thereof,
including without limitation any item of Confidential Information listed in Section 8 of the Employment Agreement to which I am a party (the “Agreement”), but not including copies of my own employment records. 

I further certify that I have complied with all of the terms of the Agreement signed by me, including the assignment of any Inventions (as defined in the
Agreement) covered by the Agreement. 
 I further agree that in compliance with the Agreement, I will preserve as confidential any information relating to
the Company or any of its business partners, clients, consultants or licensees which has been disclosed to me in confidence during the course of my employment by the Company unless authorized in writing to disclose such information by the Board of
Directors of the Company. 
  

							
	Date:	 	  
	  		 	  

				
		 		  		 	(Employee’s Signature)
				
		 		  		 	  

				
		 		  		 	(Printed or Typed Name of Employee)EX-10.12

 Exhibit 10.12 
  

 
  
 EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) made effective as of October 3, 2011 (the
“Effective Date”) is entered into by and between Ulthera, Inc., a Delaware corporation with its corporate headquarters in Mesa, Arizona (the “Company”) and Gregory D.
Waller(“Employee”). This agreement anticipates a starting date of October 17, 2011. 
  

	A.	 The Company desires to employ Employee in the manner specified in this Agreement and to make provision for payment of reasonable compensation to
Employee for such services. 

  

	B.	 Employee desires to provide services to the Company in accordance with the terms and conditions set forth in this Agreement. 

 

	C.	 The parties desire to enter into the Agreement as of the date hereof, setting forth the terms and conditions of the employment relationship of
Employee during the term of this Agreement. 

 NOW, THEREFORE, in consideration of the mutual
promises and covenants contained in this Agreement, the parties, intending to be legally bound, agree as follows: 
  

	I.	EMPLOYMENT 

 During the term of this Agreement, the Company
will employ Employee as Chief Financial Officer and Employee agrees to diligently perform the duties associated with such position under the direction and supervision of, and will report directly to Matthew E. Likens, the CEO, or such
other person or persons as may be designated by the CEO. Employee agrees to use Employee’s best efforts in, and to devote Employee’s full working time, attention, skill and energies to, the advancement of the interests of the Company and
the performance of Employee’s duties and responsibilities under this Agreement, and will comply with the Company’s policies and procedures. Employee is currently participating as an independent director on two outside corporate boards and
plans on continuing that activity. Nothing contained in this Agreement shall be construed as preventing Employee from engaging in religious, charitable or other community or non-profit activities, or from engaging in personal investment and business
matters that are not otherwise prohibited by the terms of this Agreement, in each case that do not materially impair Employee’s ability to fully and completely fulfill Employee’s duties and responsibilities under this Agreement. 

 

	II.	AT-WILL 

 The term of this Agreement and Employee’s
employment is “at will,” which means the Company does not guarantee Employee’s employment for any specific period of time. No one at the Company has the authority to change this arrangement, unless it is done by a written
agreement that is signed by Employee and the CEO of the Company. The first six (_6_) months of Employee’s employment will be a probationary period. During this probationary period the 

  
 Ulthera, Inc. — 2150 South Country Club Drive, Suite 21, Mesa, AZ 85210 USA 
 Tel
480-619-4069 — Fax 480-619-4071 — www.Ulthera.com 

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Company shall determine if Employee is suitable for the duties referred to in Section I above. Both Employee and the Company have the choice of ending Employee’s employment at any time, for
any reason and without cause, with or without notice. Satisfying any probationary period or meeting or exceeding performance standards will not change the “at will” nature of this Agreement or Employee’s employment. Upon termination
of Employee, the Company will pay Employee’s Base Salary (as defined below) and any earned incentive compensation up to the date of termination and Employee will not be entitled to receive any Base Salary or other benefits for any period after
the date of termination, except for the right to receive benefits which have become vested under any benefit plan or to which Employee is entitled as a matter of law. 
  

	III.	COMPENSATION AND BENEFITS  

 A. Base Salary, Incentive Opportunity and Stock
Ownership 
 During the term of this Agreement, the Company shall pay Employee a base salary at the rate of
$230,000 per annum (the “Base Salary”), which Base Salary will be reviewed annually by the supervisor and the board of directors and may be increased from time to time during the term of this Agreement in the sole
discretion of these executives. Such Base Salary shall be subject to tax withholding under applicable law, shall be prorated for partial years and shall be payable in periodic installments in accordance with the Company’s usual payroll
practice, as in effect from time to time. An incentive compensation opportunity of 30% of base salary per year based upon performance with half of that incentive based on Ulthera achieving its corporate financial goals and half on meeting mutually
agreed upon individual objectives. This incentive compensation plan can be adjusted annually at management’s discretion. Employee is also awarded ownership shares of Ulthera, Inc. equal to 1% of the Company’s outstanding shares on the
effective date as stock options which will vest over a four year period. One quarter of these options will vest at the completion of twelve months of employment and the remaining three quarters will vest monthly over the next 36 months at a rate of
1/48 of the shares per month until 100% of the shares have vested so long as the Employee remains part of the Company. 
 B.
Benefits 
 During the term of this Agreement, Employee will be entitled to reimbursement of reasonable and
customary business expenses consistent with the then current reimbursement policies of the Company. The Company will provide to Employee such fringe benefits and other executive benefits as are regularly provided by the Company to its employees,
including, but not limited to, participation in any health care or employee benefit plans provided by the Company to other employees from time to time, provided, however, that nothing herein shall preclude the Company from amending or terminating
any employee or general executive benefit plans or programs. Employee will be reimbursed for reasonable costs associated with securing health insurance. Employee will receive three weeks of vacation each year for the first two years of employment
and vacation after that time will reflect company policy. 

  
 Ulthera, Inc. — 2150 South Country Club Drive, Suite 21, Mesa, AZ 85210 USA 
 Tel
480-619-4069 — Fax 480-619-4071 — www.Ulthera.com 

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	IV.	NON-DISCLOSURE/NON-APPROPRIATION/NON-DISPARAGEMENT COVENANTS 

 A.
Definitions 
 For purposes of this Agreement, the terms listed below shall have the following meanings: 

1. “Proprietary Information” means, but shall not be limited to, information concerning the:
(a) Company’s customers; (b) the Company’s products, all patents and copyrights related to such products, and all trademarks, trade names and service marks (whether registered or unregistered), including, but not limited to, all
words, names, symbols, devices or combinations thereof place in any manner on such products, or their container or the displays and advertising associated with such products; (c) the Company’s business, including all marketing, selling and
pricing strategies; and (d) the Company’s technical specifications, drawings, schematics, designs, Trade Secrets, know-how, software, components, hardware, equipment, customer lists, training
information, business methods and names. Proprietary Information may or may not be marked with a “proprietary or “confidential” legend and the absence of such legend shall not be indicative of whether the information is or is not
Proprietary Information. The term Proprietary Information does not include information which (x) becomes generally available to the public other than as a result of a disclosure by Employee contrary to the terms of this Agreement, (y) was
available on a non-confidential basis prior to its disclosure, or (z) becomes available on a non-confidential basis from a source other than Employee, provided that such source is not contractually obligated to keep such information
confidential. 
 2. “Trade Secrets” means confidential information that Employee, prior to and
during the term of this Agreement, has had and will have access to and become acquainted with which is owned by the Company or by its affiliates and regularly used in the operation of their respective businesses and which may give the Company an
opportunity to obtain an advantage over competitors who do not know or use such Trade Secrets. Employee agrees and acknowledges that Employee has been granted access to these valuable Trade Secrets only by virtue of the confidential relationship
created by Employee’s employment and Employee’s prior relationship to, interest in, and fiduciary relationships to the Company. 

B. Covenants 

1. Non-Disclosure; Non-Appropriation. Employee acknowledges that in connection with the performance of Employee’s
services, Employee shall be provided with or shall otherwise be exposed to or receive certain Proprietary Information and/or Trade Secrets of the Company. Employee expressly covenants and agrees that: 

a. That Employee will hold any and all Proprietary Information and/or Trade Secrets now or later possessed by the Company in a
fiduciary capacity and will not reveal, divulge, communicate, use or cause to be used such information for personal, third-party 

  
 Ulthera, Inc. — 2150 South Country Club Drive, Suite 21, Mesa, AZ 85210 USA 
 Tel
480-619-4069 — Fax 480-619-4071 — www.Ulthera.com 

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or Competing Business benefit during or after the period of employment without the Company’s prior written consent; 

b. That Employee will not sell, exchange, give away, or otherwise dispose of any Proprietary Information and/or Trade Secrets
information now or later owned by the Company, whether the same shall or may have been originated or discovered by the Employee, the Company or otherwise without the Company’s prior written consent; 

c. Employee shall return to the Company either before or immediately upon termination of employment, any and all written
information, materials or equipment that constitutes, contains or relates in any way to the Company’s Proprietary Information and/or Trade Secrets. 

d. Ulthera also requires that all employees adhere to their previous employment agreements and should not divulge or in any
way disclose proprietary information, trade secrets, financial or any other information related to their previous employer(s) history. This is a condition of employment and any violations will be considered grounds for termination. 

2. Non-Disparagement. During and after the term of this Agreement, Employee covenants and agrees that he will not make
disparaging or derogatory comments about the Company or its directors, officers, employees, shareholders, suppliers, customers, products or services. 

C. Separate Covenants 

The covenants contained in this Section IV constitute a series of separate covenants. If in any judicial proceeding, a court of
competent jurisdiction shall hold that any of the covenants set forth in this Section IV exceed time, geographic, or occupational limitations permitted by applicable laws, the Parties agree that such provision(s) shall and are reformed to the
maximum time, geographic, or occupational limitations permitted by such laws. Further, in the event a court of competent jurisdiction shall hold unenforceable any of the separate covenants deemed included in this Agreement, then such unenforceable
covenant or covenants shall be deemed eliminated from the provisions of this Agreement for the purpose of such proceeding with all enduring covenant(s) remaining viably intact. 

D. Enforceability 

Employee represents and warrants to and covenants with the Company as follows: 

1. Employee acknowledges and agrees to the adequacy and receipt of the Base Salary and other benefits provided to Employee
under this Agreement for each of the covenants set forth in this Agreement, and that the Company and its affiliates regard Employee’s commitment to abide by such covenants as an essential condition to the Company’s agreement to enter into
this Agreement and to pay Employee such benefits. 

  
 Ulthera, Inc. — 2150 South Country Club Drive, Suite 21, Mesa, AZ 85210 USA 
 Tel
480-619-4069 — Fax 480-619-4071 — www.Ulthera.com 

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 2. Employee
acknowledges and agrees that the covenants set forth in this Agreement are reasonably necessary for the protection of the interest of the Company, are reasonable as to duration, scope and territory, and are not unreasonably restrictive of Employee.

 3. The Company’s remedy at law for breach of any of the covenants set forth in this Agreement will be inadequate. In
addition to any other rights or remedies that the Company may have, the Company shall be entitled to injunctive relief, without posting bond. 
  

	V.	INTELLECTUAL PROPERTY 

 Employee acknowledges and agrees that
Employee may perform work independently or collaborate with others to develop Intellectual Property on behalf of the Company that relates to ultrasound technology. The term “Intellectual Property” shall include inventions (which may or may
not be patentable), copyrightable works, systems, compositions of matter, methods, or processes that are trade secrets, and any marks that are trademarks and service marks of the company. Employee agrees and expressly acknowledges that all
Intellectual Property resulting from Employee’s independent or collaborative work is the exclusive property of the Company. With respect to any material that is copyrightable, Employee acknowledges that all such material is either within the
scope of his or her employment or a “Work Made For Hire” as defined by Title 17 of the United States Code and hereby assigns all copyrights to the Company. With respect to inventions, Employee agrees to assign all rights, including any
patent rights (whether U.S. or foreign), to the inventions to the Company and that the decision as to whether to pursue patent protection is solely the Company’s. With respect to trade secrets, Employee agrees to take all reasonable and prudent
steps to maintain methods, systems, or other information regarded as a trade secret as a secret and will not disclose these trade secrets to anyone outside the Company and agrees to assign any rights to trade secrets to the Company. The Employee
hereby assigns any and all Intellectual Property to the Company and to the extent that the Employee retains any ownership of any Intellectual Property as of the effective date of this Employment Agreement, the Parties agree that this Employment
Agreement shall act as an assignment of that Intellectual Property for which adequate consideration has been received. The Parties acknowledge that the salary paid to Employee under Section 3 and other compensation set forth herein takes into
consideration the assignment of Intellectual Property set forth herein. Finally, the Employee agrees to execute any and all documents to effectuate assignments of Intellectual Property to the Company or otherwise assist the Company in protecting or
pursuing rights in the Intellectual Property 
  

	VI.	OWNERSHIP OF DOCUMENTS / MATERIALS 

 The Company shall own all
papers, records, books, drawings, documents, manuals (whether in hard copy form or electronically stored), and anything of a similar nature (collectively, the “Documents”) prepared by Employee in connection with or arising
from employment with the Company. The Company shall also own any and all materials and/or equipment used by permission or issued to Employee (collectively, “Materials”) in connection with or arising from employment with the
Company. The Documents and Materials shall be the 

  
 Ulthera, Inc. — 2150 South Country Club Drive, Suite 21, Mesa, AZ 85210 USA 
 Tel
480-619-4069 — Fax 480-619-4071 — www.Ulthera.com 

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property of the Company and are not to be used on other projects except upon the Company’s prior written consent. At the end of the term of this Agreement, Employee shall surrender to the
Company any and all Documents, Materials, and/or other property of whatsoever kind now or later in Employee’s possession, custody, or control which in any way relates to the Company’s business. Employee also acknowledges that the
obligations of this Section survive the termination of this Agreement. 
  

	VII.	DISCLOSURE TO FUTURE EMPLOYERS 

 Employee agrees that Employee
will provide, and that the Company may similarly provide in its discretion, a copy of the covenants in Section IV, V, and VI, and a copy of this Section VII, of this Agreement to any business or enterprise which is or may be competitive with the
business of the Company which Employee may directly, or indirectly, own, manage, operate, finance, join, control, or in which Employee participates in the ownership, management, operation, financing, or control, or with which Employee may be
connected as an officer, director, employee, partner, principal, agent, representative, consultant, or otherwise. 
  

	VIII.  	NO CONFLICTING AGREEMENTS 

 Employee represents and warrants that
Employee has no commitments or obligations inconsistent with this Agreement and agrees to indemnify and hold the Company harmless against any and all loss, damage, liability, or expense arising from any claim based upon circumstances alleged to be
inconsistent with such representation and warranty. 
  

	IX.	INJUNCTIVE RELIEF 

 The Parties agree that a breach of the
covenants described in this Agreement will result in substantial damages to the Company, which would be difficult, if not impossible, to ascertain, and, by reason of such fact, Employee agrees that in the event of any such breach or threatened
breach, the Company will have the right to a restraining order and injunction, both temporary and permanent, enjoining and restraining any such breach or threatened breach. Such injunctive relief will be in addition to any other remedies available
to the Company at law or in equity. Nothing contained in this Agreement shall be construed to prohibit or prevent the Company from initiating an action or otherwise recovering any damages as may be sustained as a result of the breach or threatened
breach of this Agreement by Employee. Employee agrees that the Company may pursue any remedy available to it concurrently or consequently in any order as to any breach, violation, or threatened breach or violation of any of the covenants described
in this Agreement, and the pursuit of one of such remedies at any time will not be deemed an election of remedies or waiver of the right to pursue any other of such remedies as to that breach, violation or threatened breach or violation, or as to
any other breach, violation or threatened breach or violation. 
  

	X.	ARBITRATION 

  
 Ulthera, Inc. — 2150 South Country Club Drive, Suite 21, Mesa, AZ 85210 USA 
 Tel
480-619-4069 — Fax 480-619-4071 — www.Ulthera.com 

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 Except with respect
to the Company’s right to obtain injunctive relief pursuant to Section IX, Employee and the Company shall attempt to settle any dispute arising out of this Agreement by a meeting of a designated representative of Employee and the Company within
ten (10) days after a request by either of the Parties to the other Party asking for the same. If such dispute cannot be settled at this meeting, either Party may submit the dispute to binding arbitration by a sole arbitrator in accordance with
the American Arbitration Association’s Employment Arbitration Rules and Mediation Procedures, and judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction of such judgment. Such arbitration shall be
conducted in Maricopa County in Arizona. Except as otherwise specifically provided for in this Agreement, each Party shall bear its own costs and attorneys’ fees. The procedures specified in this Agreement shall be the sole and exclusive
procedures for the resolution of disputes between the Parties arising out of or relating to this Agreement after termination of Employee’s employment relationship with the Company; provided, however, that a Party may seek a preliminary
injunction or other preliminary judicial relief if in its judgment such action is necessary to avoid irreparable damages. All applicable statutes of limitations shall be tolled while the procedures specified in this Section are pending. The Parties
will take such action, if any, required to effectuate such tolling. 
  

	XI.	GENERAL 

 A. Notices 

All notices, consents, requests, demands and other communications required or permitted under this Agreement: (1) shall be
in writing; (2) shall be sent by messenger, certified or registered U.S. mail, a reliable express delivery service or telecopier (with a copy sent by one of the foregoing means), charges prepaid as applicable, to the appropriate address(es) or
number(s) set forth below; and (3) shall be deemed to have been given on the date of receipt by the addressee (or, if the date of receipt is not a business day, on the first business day after the date of receipt), as evidenced by (a) a
receipt executed by the addressee (or a responsible person in his or her office), the records of the person delivering such communication or a notice to the effect that such addressee refused to claim or accept such communication, if sent by
messenger, U.S. mail or express delivery service; or (b) a receipt generated by the sender’s telecopier showing that such communication was sent to the appropriate number on a specified date, if sent by telecopier. All such communications
shall be sent to the following addresses or numbers, or to such other addresses or numbers as any Party may inform the others by giving five business days’ prior notice: 

  
 Ulthera, Inc. — 2150 South Country Club Drive, Suite 21, Mesa, AZ 85210 USA 
 Tel
480-619-4069 — Fax 480-619-4071 — www.Ulthera.com 

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		 	 Gregory D, Waller
	 		  	COMPANY	  	
					
		 	  
	 		  	2150 South Country Club Dr, #21	  	
					
		 	  
	 		  	Mesa AZ 85210-6809	  	
					
		 	  
	 		  	Attn: CEO	  	
					
		 	Fax No.: (            )             
-            	 		  	Fax: (480) 619-4071	  	

 B. Attorney’s Fees and Costs 

If any legal action or other proceeding is commenced in which the dispute involves the terms of this Agreement, the losing
Party shall pay to the prevailing Party the prevailing Party’s reasonable attorneys’ fees and costs incurred in the preparation for, conduct at, appeal or enforcement of judgment from, the proceeding. The phrase “prevailing
Party” shall mean the Party who is determined in the proceeding to have prevailed or who prevails by dismissal default, settlement or otherwise. 

C. Modifications and Amendments  

The terms and provisions of this Agreement may be modified or amended only by written agreement executed by the Parties. 

D. Waivers and Consents 

The due performance or observance by the Parties of their respective obligations under this Agreement shall not be waived, and
the rights and remedies of the Parties under this Agreement shall not be affected, by any course of dealing or performance or by any delay or failure of any Party in exercising any such right or remedy. 

E. Assignment 

The Company may assign its rights and obligations under this Agreement to any person or entity that succeeds to all or
substantially all of the Company’s business or that aspect of the Company’s business in which Employee is principally involved. Employee’s rights and obligations under this Agreement may not be assigned by Employee without the prior
written consent of the Company. 
 F. Governing Law, Jurisdiction and Service of Process 

This Agreement and the rights and obligations of the Parties under this Agreement shall be construed in accordance with and
governed by the law of the State of Arizona, without giving effect to its conflict of law principles. The Parties agree that any legal action or proceeding with 

  
 Ulthera, Inc. — 2150 South Country Club Drive, Suite 21, Mesa, AZ 85210 USA 
 Tel
480-619-4069 — Fax 480-619-4071 — www.Ulthera.com 

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respect to this Agreement shall be brought in the courts of the State of Arizona or the United States District Court for the District of Arizona. The Parties agree and consent to the service of
process of the courts of the State of Arizona or the United States District Court for the District of Arizona in any action or proceeding by the mailing of copies of such action or proceeding by certified mail, postage prepaid, to the Party at its
address set forth in Section XI.A. 
 G. Severability 

In the event any provisions of this Agreement shall be determined to be invalid, the remainder of this Agreement shall continue
in full force and effect. 
 H. Headings and Captions 

The heading and captions of the various subdivisions of this Agreement are for convenience or reference only and shall in no
way modify, or affect the meaning or construction of any of the terms or provisions of this Agreement. 
 I.
Counterparts 
 This Agreement may be executed in one or more counterparts, and by different Parties on separate
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

J. Entire Agreement 

This Agreement, embodies the entire agreement and understanding between the Parties with respect to the subject matter of this
Agreement and supersedes all prior oral or written agreements and understandings relating to the subject matter of this Agreement. No statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement
shall affect, or be used to interpret, change or restrict, the express terms and provisions of the Agreement. 
  

	XII.	NON-SOLICITATION  

 I agree that I will not for a period of one
(1) year immediately following the termination of my assignment with the Company for any reason, whether with or without cause, either directly or indirectly: 
  

	 	(a)	 induce or attempt to induce or hire or otherwise counsel, advise, encourage or solicit any person to leave the assignment of the Company (or any
affiliate or successor thereof), 

  

	 	(b)	 hire or in any manner employ or retain the services of any individual employed by the Company (or any other affiliate or successor thereof) as of
the date of my termination, or employed by the Company subsequent to such termination, or 

  
 Ulthera, Inc. — 2150 South Country Club Drive, Suite 21, Mesa, AZ 85210 USA 
 Tel
480-619-4069 — Fax 480-619-4071 — www.Ulthera.com 

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	 	(c)	 in any way, directly or indirectly induce or attempt to induce or otherwise counsel, advise, encourage, or solicit, any customer, participant or
supplier of the Company to terminate or in any way diminish its relationship with the Company (or any affiliate or successor thereof) or seek, directly or indirectly, to divert such relationship for my personal benefit or to such the Company or
other person or entity with whom I may then be employed or otherwise associated, 

  

	 	(d)	 solicit or attempt to solicit or obtain business or trade from any of the Company’s current or prospective customers or clients or help any
person or entity do so or attempt to do so; or 

  

	 	(e)	 obtain or attempt to obtain any Confidential Information for any purpose whatsoever. 

[Signatures on following page] 

  
 Ulthera, Inc. — 2150 South Country Club Drive, Suite 21, Mesa, AZ 85210 USA 
 Tel
480-619-4069 — Fax 480-619-4071 — www.Ulthera.com 

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 IN WITNESS WHEREOF, the
Parties have executed this Agreement as of the date first set forth above. 
  

							
	EMPLOYEE	 		 	 COMPANY
  

Ulthera, Inc.

				
	 /s/ Gregory D. Waller
	 		 	By:	 	 /s/ Matthew E. Likens

	Gregory D, Waller	 		 		 	 Matthew E. Likens
 President &
CEO

  
 Signature Page to
Employment Agreement

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