Document:

Exhibit
10.24

 

WARRANT
AGENT AGREEMENT

 

This
WARRANT AGENT AGREEMENT (this “Warrant Agreement”) dated as of [●], 2022 (the “Issuance Date”)
is between Curative Biotechnology, Inc., a Florida corporation (the “Company”), and Issuer Direct Corporation (the
“Warrant Agent”).

 

WHEREAS,
pursuant to the terms of that certain Underwriting Agreement (“Underwriting Agreement”), dated [●], 2022, by
and among the Company and Aegis Capital Corp., as the underwriter set forth therein (the “Underwriter”), the Company
is engaged in a public offering of (i) up to [●] units (the “Closing Units”), with each Closing Unit consisting
of: one (1) share of Common Stock, $0.0001 par value per share (the “Common Stock”) of the Company, and one (1) warrant
(the “Warrants”) of the Company to purchase one (1) share each of Common Stock at an exercise price of $[●]
(representing 200% of the Closing Unit offering price).

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “Commission”) a Registration Statement on Form
S-1 (File No. 333-264339) (as the same may be amended from time to time, the “Registration Statement”), for the registration
under the Securities Act of 1933, as amended (the “Securities Act”), of the Closing Units, Common Stock, and Warrants,
and such Registration Statement was declared effective on [●], 2022; and

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in accordance with
the terms set forth in this Warrant Agreement in connection with the issuance, registration, transfer, exchange and exercise of the Warrants;

 

WHEREAS,
the Company desires to provide for the provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective
rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants the valid, binding and legal obligations of
the Company, and to authorize the execution and delivery of this Warrant Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company with respect to the Warrants,
and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the express terms and
conditions set forth in this Warrant Agreement (and no implied terms or conditions).

 

2. Warrants.

 

2.1. Form
of Warrants. The Warrants shall be registered securities and shall be evidenced by a global warrant (“Global
Warrant”) in the form of Exhibit A to this Warrant Agreement, which shall be deposited on behalf of the
Company with a custodian for The Depository Trust Company (“DTC”) and registered in the name of Cede & Co., a
nominee of DTC. The terms of the Global Warrant are incorporated herein by reference. If DTC subsequently ceases to make its
book-entry settlement system available for the Warrants, the Company may instruct the Warrant Agent regarding making other
arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer necessary to have
the Warrants available in, book-entry form, the Company may instruct the Warrant Agent to provide written instructions to DTC to
deliver to the Warrant Agent for cancellation the Global Warrant, and the Company shall instruct the Warrant Agent to deliver to DTC
separate certificates evidencing Warrants (“Definitive Certificates” and, together with the Global Warrant,
“Warrant Certificates”) registered as requested through the DTC system.

 

    	 

     

    

 

2.2. Issuance
and Registration of Warrants.

 

2.2.1. Warrant
Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original
issuance and the registration of transfer of the Warrants.

 

2.2.2. Issuance
of Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue the Global Warrant and deliver the
Warrants in the DTC book-entry settlement system in accordance with written instructions delivered to the Warrant Agent by the
Company. Ownership of security entitlements in the Warrants shall be shown on, and the transfer of such ownership shall be effected
through, records maintained (i) by DTC and (ii) by institutions that have accounts with DTC (each, a
“Participant”).

 

2.2.3. Beneficial
Owner; Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem
and treat the person in whose name that Warrant shall be registered on the Warrant Register (the “Holder”) as the
absolute owner of such Warrant for purposes of any exercise thereof, and for all other purposes, and neither the Company nor the
Warrant Agent shall be affected by any notice to the contrary. Notwithstanding the foregoing, nothing herein shall prevent the
Company, the Warrant Agent or any agent of the Company or the Warrant Agent from giving effect to any written certification, proxy
or other authorization furnished by DTC governing the exercise of the rights of a holder of a beneficial interest in any Warrant.
The rights of beneficial owners in a Warrant evidenced by the Global Warrant shall be exercised by the Holder or a Participant
through the DTC system, except to the extent set forth herein or in the Global Warrant.

 

2.2.4. Delivery
of Warrant Certificate. A Holder has the right to elect at any time or from time to time a Warrant Exchange (as defined below)
pursuant to a Warrant Certificate Request Notice (as defined below). Upon written notice by a Holder to the Warrant Agent for the
exchange of some or all of such Holder’s Global Warrants for a Warrant Certificate evidencing the same number of Warrants,
which request shall be in the form attached hereto as Exhibit B (a “Warrant Certificate Request
Notice” and the date of delivery of such Warrant Certificate Request Notice by the Holder, the “Warrant
Certificate Request Notice Date” and the deemed surrender upon delivery by the Holder of a number of Global Warrants for
the same number of Warrants evidenced by a Warrant Certificate, a “Warrant Exchange”), the Warrant Agent shall
promptly effect the Warrant Exchange and shall promptly issue and deliver to the Holder a Warrant Certificate for such number of
Warrants in the name set forth in the Warrant Certificate Request Notice. Such Warrant Certificate shall be dated the date of
issuance of the Warrant Certificate, shall include the initial exercise date of the Warrants, shall be executed by an authorized
signatory of the Company and shall be reasonably acceptable in all respects to such Holder. In connection with a Warrant Exchange,
the Company agrees to deliver, or to direct the Warrant Agent to deliver, the Warrant Certificate to the Holder within three (3)
Business Days of the Warrant Certificate Request Notice pursuant to the delivery instructions in the Warrant Certificate Request
Notice (“Warrant Certificate Delivery Date”). If the Company fails for any reason to deliver to the Holder the
Warrant Certificate subject to the Warrant Certificate Request Notice by the Warrant Certificate Delivery Date, the Company shall
pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of shares of Common Stock issuable upon
exercise of the Warrants (the “Warrant Shares”) evidenced by such Warrant Certificate (based on the VWAP (as
defined in the Warrants) of the Common Stock on the Warrant Certificate Request Notice Date), $10 per Business Day for each Business
Day after such Warrant Certificate Delivery Date until such Warrant Certificate is delivered or, prior to delivery of such Warrant
Certificate, the Holder rescinds such Warrant Exchange. The Company covenants and agrees that, upon the date of delivery of the
Warrant Certificate Request Notice, the Holder shall be deemed to be the holder of the Warrant Certificate and, notwithstanding
anything to the contrary set forth herein, the Warrant Certificate shall be deemed for all purposes to contain all of the terms and
conditions of the Warrants evidenced by such Warrant Certificate and the terms of this Agreement.

 

    	 

     

    

 

2.2.5. Execution.
The Warrant Certificates shall be executed on behalf of the Company by any authorized officer of the Company (an
“Authorized Officer”), which need not be the same authorized signatory for all of the Warrant Certificates,
either manually or by facsimile signature. The Warrant Certificates shall be countersigned by an authorized signatory of the Warrant
Agent, which need not be the same signatory for all of the Warrant Certificates, and no Warrant Certificate shall be valid for any
purpose unless so countersigned. In case any Authorized Officer of the Company that signed any of the Warrant Certificates ceases to
be an Authorized Officer of the Company before countersignature by the Warrant Agent and issuance and delivery by the Company, such
Warrant Certificates, nevertheless, may be countersigned by the Warrant Agent, issued and delivered with the same force and effect
as though the person who signed such Warrant Certificates had not ceased to be such officer of the Company; and any Warrant
Certificate may be signed on behalf of the Company by any person who, at the actual date of the execution of such Warrant
Certificate, shall be an Authorized Officer of the Company authorized to sign such Warrant Certificate, although at the date of the
execution of this Warrant Agreement any such person was not such an Authorized Officer.

 

2.2.6. Registration
of Transfer. At any time at or prior to the Expiration Date (as defined below), a transfer of any Warrants may be registered and
any Warrant Certificate or Warrant Certificates may be split up, combined or exchanged for another Warrant Certificate or Warrant
Certificates evidencing the same number of Warrants as the Warrant Certificate or Warrant Certificates surrendered. Any Holder
desiring to register the transfer of Warrants or to split up, combine or exchange any Warrant Certificate shall make such request in
writing delivered to the Warrant Agent, and shall surrender to the Warrant Agent the Warrant Certificate or Warrant Certificates
evidencing the Warrants the transfer of which is to be registered or that is or are to be split up, combined or exchanged and, in
the case of registration of transfer, shall provide a signature guarantee. Thereupon, the Warrant Agent shall countersign and
deliver to the person entitled thereto a Warrant Certificate or Warrant Certificates, as the case may be, as so requested. The
Company and the Warrant Agent may require payment, by the Holder requesting a registration of transfer of Warrants or a split-up,
combination or exchange of a Warrant Certificate (but, for purposes of clarity, not upon the exercise of the Warrants and issuance
of Warrant Shares to the Holder), of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with
such registration of transfer, split-up, combination or exchange, together with reimbursement to the Company and the Warrant Agent
of all reasonable expenses incidental thereto.

 

2.2.7. Loss,
Theft and Mutilation of Warrant Certificates. Upon receipt by the Company and the Warrant Agent of evidence reasonably
satisfactory to them of the loss, theft, destruction or mutilation of a Warrant Certificate, and, in case of loss, theft or
destruction, of indemnity or security in customary form and amount, and reimbursement to the Company and the Warrant Agent of all
reasonable expenses incidental thereto, and upon surrender to the Warrant Agent and cancellation of the Warrant Certificate if
mutilated, the Warrant Agent shall, on behalf of the Company, countersign and deliver a new Warrant Certificate of like tenor to the
Holder in lieu of the Warrant Certificate so lost, stolen, destroyed or mutilated. The Warrant Agent may charge the Holder an
administrative fee for processing the replacement of lost Warrant Certificates,. The Warrant Agent may receive compensation from the
surety companies or surety agents for administrative services provided to them.

 

2.2.8. Proxies.
The Holder of a Warrant may grant proxies or otherwise authorize any person, including the Participants and beneficial holders that
may own interests through the Participants, to take any action that a Holder is entitled to take under this Agreement or the
Warrants; provided, however, that at all times that Warrants are evidenced by a Global Warrant, exercise of
those Warrants shall be effected on their behalf by Participants through DTC in accordance the procedures administered by
DTC.

 

3. Terms
and Exercise of Warrants.

 

3.1. Exercise
Price. Each Warrant shall entitle the Holder, subject to the provisions of the applicable Warrant Certificate and of this
Warrant Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $[●] per
whole share of Common Stock, subject to the subsequent adjustments provided in the Global Warrant. The term “Exercise
Price” as used in this Warrant Agreement refers to the price per share at which the Common Stock may be purchased at the
time a Warrant is exercised.

 

3.2. Duration
of Warrants. A Warrant may be exercised only during the period (“Exercise Period”) commencing on the date of
issuance and ending on the Termination Date. For purposes of this Warrant Agreement, the “Termination
Date” shall have the meaning set forth in the Global Warrant. Each Warrant not exercised on or before the
Termination Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at
the close of business on the Termination Date.

 

    	 

     

    

 

3.3. Exercise
of Warrants.

 

3.3.1.
Exercise. Subject to the provisions of the Global Warrant, a Holder (or a Participant or a designee of a Participant acting on
behalf of a Holder) may exercise Warrants by delivering to the Warrant Agent, not later than 5:00 P.M., Eastern Standard Time, on any
business day during the Exercise Period a notice of exercise of the Warrants to be exercised (A) in the form attached to the Global Warrant
or (B) via an electronic warrant exercise through the DTC system (each, an “Election to Purchase”) and (ii)
within one (1) Trading Day of the Date of Exercise, Warrants to be exercised by (A) surrender of the Warrant Certificate evidencing the
Warrants to the Warrant Agent at its office designated for such purpose or (B) delivery of the Warrants to an account of the Warrant
Agent at DTC designated for such purpose in writing by the Warrant Agent to DTC from time to time. Partial exercises of a Warrant resulting
in purchases of a portion of the total number of Warrant Shares available thereunder shall have the effect of lowering the outstanding
number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender a Warrant Certificate until the Holder has
purchased all of the Warrant Shares available thereunder and the Warrant has been exercised in full, in which case, the Holder shall
surrender such Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered
to the Company. All other requirements for the exercise of a Warrant shall be as set forth in the Warrant.

 

3.3.2.
The Warrant Agent shall, by 5:00 p.m., New York City time, on the Trading Day following the Exercise Date of any Warrant, advise the
Company, the transfer agent and registrar for the Company’s Shares, in respect of (i) the number of Warrant Shares indicated on
the Notice of Exercise as issuable upon such exercise with respect to such exercised Warrants, (ii) the instructions of the Holder or
Participant, as the case may be, provided to the Warrant Agent with respect to the delivery of the Warrant Shares and the number of Warrants
that remain outstanding after such exercise and (iii) such other information as the Company or such transfer agent and registrar shall
reasonably request. The Company shall issue the Warrant Shares in compliance with the terms of the Warrant.

 

3.3.3. Valid
Issuance. All Warrant Shares issued by the Company upon the proper exercise of a Warrant in conformity with this Warrant
Agreement shall be validly issued, fully paid and non-assessable.

 

3.3.4. No
Fractional Exercise. Notwithstanding any provision contained in this Warrant Agreement to the contrary, no fractional shares or
scrip representing fractional shares shall be issued upon the exercise of the Warrant. As to any fraction of a share which the
Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment
in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole
share.

 

3.3.5. No
Transfer Taxes. The Company shall not be required to pay any stamp or other tax or governmental charge required to be paid in
connection with any transfer involved in the issue of the Warrant Shares upon the exercise of Warrants; and in the event that any
such transfer is involved, the Company shall not be required to issue or deliver any Warrant Shares until such tax or other charge
shall have been paid or it has been established to the Company’s satisfaction that no such tax or other charge is
due.

 

3.3.6. Date
of Issuance. The Company will treat an exercising Holder as a beneficial owner of the Warrant Shares as of the Exercise Date,
and for purposes of Regulation SHO, a holder whose interest in this Warrant is a beneficial interest in certificate(s) representing
this Warrant held in book-entry form through DTC shall be deemed to have exercised its interest in this Warrant upon instructing its
broker that is a DTC participant to exercise its interest in this Warrant, except that, if the Exercise Date is a date when the
share transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the open of
business on the next succeeding date on which the share transfer books are open.

 

4. Adjustments.
Upon every adjustment of the Exercise Price or the number of Warrant Shares issuable upon exercise of a Warrant, the Company shall
give written notice thereof to the Warrant Agent, which notice shall state the Exercise Price resulting from such adjustment and the
increase or decrease, if any, in the number of Warrant Shares purchasable at such price upon the exercise of a Warrant, setting
forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any
event specified in Section 3 of the Warrant, then, in any such event, the Company shall give written notice to the Warrant Agent.
Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. The Warrant Agent shall
be entitled to rely conclusively on, and shall be fully protected in relying on, any certificate, notice or instructions provided by
the Company with respect to any adjustment of the Exercise Price or the number of shares issuable upon exercise of a Warrant, or any
related matter, and the Warrant Agent shall not be liable for any action taken, suffered or omitted to be taken by it in accordance
with any such certificate, notice or instructions or pursuant to this Warrant Agreement. The Warrant Agent shall not be deemed to
have knowledge of any such adjustment unless and until it shall have received written notice thereof from the Company.

 

    	 

     

    

 

5. Restrictive
Legends; Fractional Warrants. In the event that a Warrant Certificate surrendered for transfer bears a restrictive legend, the
Warrant Agent shall not register that transfer until the Warrant Agent has received an opinion of counsel for the Company stating
that such transfer may be made and indicating whether the Warrants must also bear a restrictive legend upon that transfer. The
Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the transfer of or
delivery of a Warrant Certificate for a fraction of a Warrant.

 

6. Other
Provisions Relating to Rights of Holders of Warrants.

 

6.1. No
Rights as Shareholder. Except as otherwise specifically provided herein, a Holder, solely in its capacity as a holder of
Warrants, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any
purpose, nor shall anything contained in this Warrant Agreement be construed to confer upon a Holder, solely in its capacity as the
registered holder of Warrants, any of the rights of a shareholder of the Company or any right to vote, give or withhold consent to
any corporate action (whether any reorganization, issue of shares of the Company, reclassification of share capital, consolidation,
merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights or rights to participate in
new issues of shares, or otherwise, prior to the issuance to the Holder of the Warrant Shares which it is then entitled to receive
upon the due exercise of Warrants.

 

6.2. Reservation
of Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued Common Stock that
will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Warrant Agreement.

 

7. Concerning
the Warrant Agent and Other Matters.

 

7.1.
Any instructions given to the Warrant Agent orally, as permitted by any provision of this Warrant Agreement, shall be confirmed in writing
by the Company as soon as practicable. The Warrant Agent shall not be liable or responsible and shall be fully authorized and protected
for acting, or failing to act, in accordance with any oral instructions which do not conform with the written confirmation received in
accordance with this Section 7.1.

 

7.2.
(a) Whether or not any Warrants are exercised, for the Warrant Agent’s services as agent for the Company hereunder, the Company
shall pay to the Warrant Agent such fees as may be separately agreed between the Company and Warrant Agent and the Warrant Agent’s
out of pocket expenses in connection with this Warrant Agreement. While the Warrant Agent endeavors to maintain out-of-pocket charges
(both internal and external) at competitive rates, these charges may not reflect actual out-of-pocket costs, and may include handling
charges to cover internal processing and use of the Warrant Agent’s billing systems. (b) All amounts owed by the Company to the
Warrant Agent under this Warrant Agreement are due within 30 days of the invoice date. (c) No provision of this Warrant Agreement shall
require Warrant Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties
under this Warrant Agreement or in the exercise of its rights.

 

    	 

     

    

 

7.3.
As agent for the Company hereunder the Warrant Agent: (a) shall have no duties or obligations other than those specifically set forth
herein or as may subsequently be agreed to in writing by the Warrant Agent and the Company; (b) shall be regarded as making no representations
and having no responsibilities as to the validity, sufficiency, value, or genuineness of the Warrants or any Warrant Shares; (c) shall
not be obligated to take any legal action hereunder; if, however, the Warrant Agent determines to take any legal action hereunder, and
where the taking of such action might, in its judgment, subject or expose it to any expense or liability it shall not be required to
act unless it has been furnished with an indemnity reasonably satisfactory to it; (d) may rely on and shall be fully authorized and protected
in acting or failing to act upon any certificate, instrument, opinion, notice, letter, telegram, telex, facsimile transmission or other
document or security delivered to the Warrant Agent and believed by it to be genuine and to have been signed by the proper party or parties;
(e) shall not be liable or responsible for any recital or statement contained in the Registration Statement or any other documents relating
thereto; (f) shall not be liable or responsible for any failure on the part of the Company to comply with any of its covenants and obligations
relating to the Warrants, including without limitation obligations under applicable securities laws; (g) may rely on and shall be fully
authorized and protected in acting or failing to act upon the written, telephonic or oral instructions with respect to any matter relating
to its duties as Warrant Agent covered by this Warrant Agreement (or supplementing or qualifying any such actions) of officers of the
Company, and is hereby authorized and directed to accept instructions with respect to the performance of its duties hereunder from the
Company or counsel to the Company, and may apply to the Company, for advice or instructions in connection with the Warrant Agent’s
duties hereunder, and the Warrant Agent shall not be liable for any delay in acting while waiting for those instructions; any applications
by the Warrant Agent for written instructions from the Company may, at the option of the Agent, set forth in writing any action proposed
to be taken or omitted by the Warrant Agent under this Warrant Agreement and the date on or after which such action shall be taken or
such omission shall be effective; the Warrant Agent shall not be liable for any action taken by, or omission of, the Warrant Agent in
accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less
than five business days after the date such application is sent to the Company, unless the Company shall have consented in writing to
any earlier date) unless prior to taking any such action, the Warrant Agent shall have received written instructions in response to such
application specifying the action to be taken or omitted; (h) may consult with counsel satisfactory to the Warrant Agent, including its
in-house counsel, and the advice of such counsel shall be full and complete authorization and protection in respect of any action taken,
suffered, or omitted by it hereunder in good faith and in accordance with the advice of such counsel; (i) may perform any of its duties
hereunder either directly or by or through nominees, correspondents, designees, or subagents, and it shall not be liable or responsible
for any misconduct or negligence on the part of any nominee, correspondent, designee, or subagent appointed with reasonable care by it
in connection with this Warrant Agreement; (j) is not authorized, and shall have no obligation, to pay any brokers, dealers, or soliciting
fees to any person; and (k) shall not be required hereunder to comply with the laws or regulations of any country other than the United
States of America or any political subdivision thereof.

 

7.4.
(a) In the absence of gross negligence or willful or illegal misconduct on its part, the Warrant Agent shall not be liable for any action
taken, suffered, or omitted by it or for any error of judgment made by it in the performance of its duties under this Warrant Agreement.
Anything in this Warrant Agreement to the contrary notwithstanding, in no event shall Warrant Agent be liable for special, indirect,
incidental, consequential or punitive losses or damages of any kind whatsoever (including but not limited to lost profits, liquidated
damages or buy-in claims), even if the Warrant Agent has been advised of the possibility of such losses or damages and regardless of
the form of action. Any liability of the Warrant Agent will be limited in the aggregate to the amount of fees paid by the Company hereunder.
The Warrant Agent shall not be liable for any failures, delays or losses, arising directly or indirectly out of conditions beyond its
reasonable control including, but not limited to, acts of government, exchange or market ruling, suspension of trading, work stoppages
or labor disputes, fires, civil disobedience, riots, rebellions, storms, electrical or mechanical failure, computer hardware or software
failure, communications facilities failures including telephone failure, war, terrorism, insurrection, earthquakes, floods, acts of God
or similar occurrences. (b) In the event any question or dispute arises with respect to the proper interpretation of the Warrants or
the Warrant Agent’s duties under this Warrant Agreement or the rights of the Company or of any Holder, the Warrant Agent shall
not be required to act and shall not be held liable or responsible for its refusal to act until the question or dispute has been judicially
settled (and, if appropriate, it may file a suit in interpleader or for a declaratory judgment for such purpose) by final judgment rendered
by a court of competent jurisdiction, binding on all persons interested in the matter which is no longer subject to review or appeal,
or settled by a written document in form and substance satisfactory to Warrant Agent and executed by the Company and each such Holder.
In addition, the Warrant Agent may require for such purpose, but shall not be obligated to require, the execution of such written settlement
by all the Holders and all other persons that may have an interest in the settlement.

 

7.5.
The Company covenants to indemnify the Warrant Agent and hold it harmless from and against any loss, liability, claim or expense (“Loss”)
arising out of or in connection with the Warrant Agent’s duties under this Warrant Agreement, including the costs and expenses
of defending itself against any Loss, unless such Loss shall have been determined by a court of competent jurisdiction to be a result
of the Warrant Agent’s gross negligence or willful misconduct.

 

    	 

     

    

 

7.6.
Unless terminated earlier by the parties hereto, this Agreement shall terminate 90 days after the earlier of the Expiration Date and
the date on which no Warrants remain outstanding (the “Termination Date”). On the business day following the Termination
Date, the Agent shall deliver to the Company any entitlements, if any, held by the Warrant Agent under this Warrant Agreement. The Agent’s
right to be reimbursed for fees, charges and out-of-pocket expenses as provided in this Section 8 shall survive the termination of this
Warrant Agreement.

 

7.7.
If any provision of this Warrant Agreement shall be held illegal, invalid, or unenforceable by any court, this Warrant Agreement shall
be construed and enforced as if such provision had not been contained herein and shall be deemed an Agreement among the parties to it
to the full extent permitted by applicable law.

 

7.8.
The Company represents and warrants that: (a) it is duly incorporated and validly existing under the laws of its jurisdiction of incorporation;
(b) the offer and sale of the Warrants and the execution, delivery and performance of all transactions contemplated thereby (including
this Warrant Agreement) have been duly authorized by all necessary corporate action and will not result in a breach of or constitute
a default under the articles of association, bylaws or any similar document of the Company or any indenture, agreement or instrument
to which it is a party or is bound; (c) this Warrant Agreement has been duly executed and delivered by the Company and constitutes the
legal, valid, binding and enforceable obligation of the Company; (d) the Warrants will comply in all material respects with all applicable
requirements of law; and (e) to the best of its knowledge, there is no litigation pending or threatened as of the date hereof in connection
with the offering of the Warrants.

 

7.9.
In the event of inconsistency between this Warrant Agreement and the descriptions in the Warrant, as it may from time to time be amended,
the terms of the Warrant shall control.

 

7.10.
Set forth in Exhibit C hereto is a list of the names and specimen signatures of the persons authorized to act for the
Company under this Warrant Agreement (the “Authorized Representatives”). The Company shall, from time to time, certify
to you the names and signatures of any other persons authorized to act for the Company under this Warrant Agreement.

 

7.11.
Except as expressly set forth elsewhere in this Warrant Agreement, all notices, instructions and communications under this Agreement
shall be in writing, shall be effective upon receipt and shall be addressed, if to the Company, to its address set forth beneath its
signature to this Agreement, or, if to the Warrant Agent, to [●], or to such other address of which a party hereto has notified
the other party.

 

7.12.
(a) This Warrant Agreement shall be governed by and construed in accordance with the laws of the State of New York. All actions and proceedings
relating to or arising from, directly or indirectly, this Warrant Agreement may be litigated in courts located within the State of Delaware.
The Company hereby submits to the personal jurisdiction of such courts and consents that any service of process may be made by certified
or registered mail, return receipt requested, directed to the Company at its address last specified for notices hereunder. Each of the
parties hereto hereby waives the right to a trial by jury in any action or proceeding arising out of or relating to this Warrant Agreement.
(b) This Warrant Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties hereto. This Warrant
Agreement may not be assigned, or otherwise transferred, in whole or in part, by either party without the prior written consent of the
other party, which the other party will not unreasonably withhold, condition or delay; except that (i) consent is not required for an
assignment or delegation of duties by Warrant Agent to any affiliate of Warrant Agent and (ii) any reorganization, merger, consolidation,
sale of assets or other form of business combination by Warrant Agent or the Company shall not be deemed to constitute an assignment
of this Warrant Agreement. (c) No provision of this Warrant Agreement may be amended, modified or waived, except in a written document
signed by both parties. The Company and the Warrant Agent may amend or supplement this Warrant Agreement without the consent of any Holder
for the purpose of curing any ambiguity, or curing, correcting or supplementing any defective provision contained herein or adding or
changing any other provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or
desirable and that the parties determine, in good faith, shall not adversely affect the interest of the Holders. All other amendments
and supplements shall require the vote or written consent of Holders of at least 50.1% of the then outstanding Warrants, provided that
adjustments may be made to the Warrant terms and rights in accordance with Section 4 without the consent of the Holders. Nothing in this
Section 7.12 shall limit or restrict the federal district court in which a party may bring a claim under the U.S. federal securities
laws.

 

    	 

     

    

 

7.13. Payment
of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the
Warrant Agent in respect of the issuance or delivery of Warrant Shares upon the exercise of Warrants, but the Company may require
the Holders to pay any transfer taxes in respect of the Warrants or such shares. The Warrant Agent may refrain from registering any
transfer of Warrants or any delivery of any Warrant Shares unless or until the persons requesting the registration or issuance shall
have paid to the Warrant Agent for the account of the Company the amount of such tax or charge, if any, or shall have established to
the reasonable satisfaction of the Company and the Warrant Agent that such tax or charge, if any, has been paid.

 

7.14. Resignation
of Warrant Agent.

 

7.14.1. Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be
discharged from all further duties and liabilities hereunder after giving thirty (30) days’ notice in writing to the Company,
or such shorter period of time agreed to by the Company. The Company may terminate the services of the Warrant Agent, or any
successor Warrant Agent, after giving thirty (30) days’ notice in writing to the Warrant Agent or successor Warrant Agent, or
such shorter period of time as agreed. If the office of the Warrant Agent becomes vacant by resignation, termination or incapacity
to act or otherwise, the Company shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company
shall fail to make such appointment within a period of 30 days after it has been notified in writing of such resignation or
incapacity by the Warrant Agent, then the Warrant Agent or any Holder may apply to any court of competent jurisdiction for the
appointment of a successor Warrant Agent at the Company’s cost. Pending appointment of a successor to such Warrant Agent,
either by the Company or by such a court, the duties of the Warrant Agent shall be carried out by the Company. Any successor Warrant
Agent (but not including the initial Warrant Agent), whether appointed by the Company or by such court, shall be a person organized
and existing under the laws of any state of the United States of America, in good standing, and authorized under such laws to
exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any
successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its
predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed, and
except for executing and delivering documents as provided in the sentence that follows, the predecessor Warrant Agent shall have no
further duties, obligations, responsibilities or liabilities hereunder, but shall be entitled to all rights that survive the
termination of this Warrant Agreement and the resignation or removal of the Warrant Agent, including but not limited to its right to
indemnity hereunder. If for any reason it becomes necessary or appropriate or at the request of the Company, the predecessor Warrant
Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the
authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the
Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in
and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

 

7.14.2. Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to
the predecessor Warrant Agent and the transfer agent for the Common Stock not later than the effective date of any such
appointment.

 

7.14.3. Merger
or Consolidation of Warrant Agent. Any person into which the Warrant Agent may be merged or converted or with which it may be
consolidated or any person resulting from any merger, conversion or consolidation to which the Warrant Agent shall be a party or any
person succeeding to the shareowner services business of the Warrant Agent or any successor Warrant Agent shall be the successor
Warrant Agent under this Warrant Agreement, without any further act or deed. For purposes of this Warrant Agreement,
“person” shall mean any individual, firm, corporation, partnership, limited liability company, joint venture,
association, trust or other entity, and shall include any successor (by merger or otherwise) thereof or thereto.

 

8. Miscellaneous
Provisions.

 

8.1. Persons
Having Rights under this Warrant Agreement. Nothing in this Warrant Agreement expressed and nothing that may be implied from any
of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the
parties hereto any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation,
promise, or agreement hereof.

 

    	 

     

    

 

8.2. Examination
of the Warrant Agreement. A copy of this Warrant Agreement shall be available at all reasonable times at the office of the
Warrant Agent designated for such purpose for inspection by any Holder. Prior to such inspection, the Warrant Agent may require any
such holder to provide reasonable evidence of its interest in the Warrants.

 

8.3. Counterparts.
This Warrant Agreement may be executed in any number of original, facsimile or electronic counterparts and each of such counterparts
shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same
instrument.

 

8.4. Effect
of Headings. The Section headings herein are for convenience only and are not part of this Warrant Agreement and shall not
affect the interpretation thereof.

 

9. Certain
Definitions. As used herein, the following terms shall have the following meanings:

 

(a)
“Trading Day” means any day on which the Common Stock are traded on the Trading Market, or, if the Trading Market
is not the principal trading market for the Common Stock, then on the principal securities exchange or securities market in the United
States on which the Common Stock are then traded, provided that “Trading Day” shall not include any day on which the Common
Stock are scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock are suspended from trading
during the final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing
time of trading on such exchange or market, then during the hour ending at 4:00 P.M., Eastern Standard Time).

 

(b)
“Trading Market” means NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select
Market or the New York Stock Exchange.

 

[Signature
Page Follows]

 

    	 

     

    

 

IN
WITNESS WHEREOF, this Warrant Agent Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	CURATIVE BIOTECHNOLOGY, INC.
	 	 	                      
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	ISSUER DIRECT CORPORATION
	 	 	                 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 

     

    

 

EXHIBIT
A

 

GLOBAL
WARRANT – WARRANT

 

    	 

     

    

 

EXHIBIT
B

 

WARRANT
CERTIFICATE REQUEST NOTICE

 

To:
___________ as Warrant Agent for __________ (the “Company”)

 

The
undersigned Holder of Shares Purchase Warrants (“Warrants”) in the form of Global Warrants issued by the Company hereby elects
to receive a Warrant Certificate evidencing the Warrants held by the Holder as specified below:

 

	1.	Name of Holder of Warrants in form
    of Global Warrants: _____________________________
	 	 
	2.	Name of Holder in Warrant Certificate (if different
    from name of Holder of Warrants in form of Global Warrants): ________________________________
	 	 
	3.	Number of Warrants in name of Holder in form of Global
    Warrants: ___________________
	 	 
	4.	Number of Warrants for which Warrant Certificate shall
    be issued: __________________
	 	 
	5.	Number of Warrants in name of Holder in form of Global
    Warrants after issuance of Warrant Certificate, if any: ___________
	 	 
	6.	Warrant Certificate shall be delivered to the following
    address:

 

______________________________

 

______________________________

 

______________________________

 

______________________________

 

The
undersigned hereby acknowledges and agrees that, in connection with this Warrant Exchange and the issuance of the Warrant Certificate,
the Holder is deemed to have surrendered the number of Warrants in form of Global Warrants in the name of the Holder equal to the number
of Warrants evidenced by the Warrant Certificate.

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: ____________________________________________________

 

Signature
of Authorized Signatory of Investing Entity: ______________________________

 

Name
of Authorized Signatory: ________________________________________________

 

Title
of Authorized Signatory: _________________________________________________

 

Date:
_______________________________________________________________

 

    	 

     

    

 

EXHIBIT
C

 

AUTHORIZED
REPRESENTATIVES

 

	Name	 	Title	 	Signature
	 	 	 	 	 
	I Richard Garr	 	Chief Executive Officer and Chief Financial Officer	 	 
	 	 	 	 	 
	Paul Michaels	 	President	 	 
	 	 	 	 	 
	Barry Ginsberg	 	Chief Strategy OfficerExhibit 10.1

     

    Certain identified information has been excluded from the exhibit because it is both not material and is of the type that the Company treats as private or confidential. Double
      asterisks denote omissions.

     

    THIS LICENSE AND COLLABORATION AGREEMENT (this “Agreement”) is made on November 6, 2022 (“Effective Date”):

     

    BETWEEN:

     

    Ocuphire Pharma Inc., having its corporate offices at 37000 Grand River Avenue, Suite 120, Farmington Hills, Michigan, USA (“Licensor”);
      and

     

    FamyGen Life Sciences, Inc having its offices at 701 S Carson STE 200, Carson City, NV 89701, USA and correspondence office at 550 Cochituate Road, East Wing, 4th Floor, Suite
      25, Framingham, MA 01701, USA (“Licensee”).

     

    Each of Licensor and Licensee are referred to individually herein as a “Party” or collectively as “Parties”. In this Agreement,
      capitalized terms have the meaning set forth in “Defined Terms”.

     

    WHEREAS

     

    	A.	
            Licensor is a clinical-stage ophthalmic biopharmaceutical company focused on developing and commercializing therapies for the treatment of refractive and retinal eye disorders.

          

     

    	B.	
            Licensee develops novel pharmaceutical drugs, new chemical entities, proprietary formulation products and complex generic products for the global markets and is also engaged in providing services relating to the development of
              pharmaceutical products.

          

     

    	C.	
            Licensor has been developing and has conducted: (a) Phase I Clinical Trial and Phase II Clinical Trial of each Product; and (b) Phase III Clinical Trial for Product 1A and Product 1B, in each case, in a manner sufficient to be submitted in
              an NDA for Regulatory Approval in the United States of America in accordance with FDA guidance.

          

     

    	D.	
            Licensor has agreed to grant to Licensee a License in respect of the Licensed Intellectual Property (as defined below) including for the purposes of Development (as
                defined below), Manufacturing (as defined below) and Commercialization (as defined below) of the Products in the Field (as defined below) for the Territory (as defined below), in accordance with the terms and conditions set forth in this Agreement.

          

     

    NOW, THEREFORE, in

      consideration of the premises and the respective promises, conditions, terms, and agreements contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties do hereby agree as
      follows:

     

    	1.	
            DEFINITIONS AND INTERPRETATION

          

     

    	1.1	
            Defined Terms

          

     

    For purposes of this Agreement, including the foregoing recitals, unless specifically set forth to the contrary herein, the following terms, whether used in the singular or plural, shall have the
      respective meanings set forth below:

     

    	

          	1.1.1	
            “Accounting Standards” means IFRS, as consistently applied by the applicable Party (including for the purposes of Commercialization, members of the Viatris Group)
                and its Affiliates, and any other internationally recognized accounting standards that may be adopted by such Party from time to time.

          

     

    
      1

      
        

    

    	

          	1.1.2	
            “Additional Royalty” has the meaning ascribed to the term in Schedule 3.

          

     

    	

          	1.1.3	
            “Affiliate” means, with respect to a Party, any Person that directly or indirectly controls, is controlled by, or is under common control with that Party. “control” for the purposes of this
              definition means: (a) direct or indirect ownership of more than fifty percent (50%) of the shares of stock entitled to vote for the election of directors, in the case of a corporation; (b) more than fifty percent (50%) of the equity interest
              in the case of any other type of legal entity or status as a general partner in any partnership; (c) any other arrangement whereby the entity or Person controls or has the right to control the board of directors or equivalent governing body
              of a corporation or other entity; (d) if a Party has rights to variable returns from its involvement with an entity or Person and has the ability to affect its returns and cause the direction of the management or policies of such entity or
              Person through its power over such entity or Person; or (e) the ability to cause the direction of the management or policies of a corporation or other entity. In the case of entities organized under the Laws of certain countries, the maximum
              percentage ownership permitted by Law for a foreign investor may be less than fifty percent (50%), and in such case such lower percentage shall be substituted in the preceding sentence, provided that
              such foreign investor has the power to direct the management and policies of such entity.

          

     

    	

          	1.1.4	
            “Aggregate Amount” has the meaning ascribed to the term in Section 4.2.1.

          

     

    	

          	1.1.5	
            “Agreement” has the meaning ascribed to the term in the Preamble.

          

     

    	

          	1.1.6	
            “Auditor” has the meaning ascribed to the term in Section 5.7.6(b).

          

     

    	

          	1.1.7	
            “Authorized Generic” means, with respect to a particular Product being sold in a particular country, any authorized generic version of such Product.  For clarity, an “Authorized Generic” is a Product
              only for the purposes of the provisions of Section 2 and calculating Sales Milestones, Royalties and Royalty Payments in Schedule 3.

          

     

    	

          	1.1.8	
            “Business Day” means any day other than: (a) a Saturday or a Sunday; and (b) a bank or other public holiday in New York, US or Mumbai, India.

          

     

    	

          	1.1.9	
            “Calendar Quarter” means the respective periods of three (3) consecutive calendar months ending on March 31, June 30, September 30, and December 31.

          

     

    	

          	1.1.10	
            “Calendar Year” means each successive period of twelve (12) months commencing on January 1 and ending on December 31, provided that, for the purposes of determining the budget for the first (1st)
              year, the Development Costs and any other cost / item usually accounted for in the budget / financials on the basis of the Calendar Year shall be reduced proportionately such that only the number of months remaining from the Effective Date
              till December 31 shall be used for such calculation.

          

     

    
      2

      
        

    

    	

          	1.1.11	
            “Chemistry, Manufacturing and Controls” and “CMC” are used interchangeably herein and mean any act(s) within Development that are directed to: (a) the
              pharmaceutical development and manufacture of Products and/or a Compound; and (b) the specifications and other parameters and controls that define or set forth: (i) a finished Compound or finished Product, (ii) consistent and controlled
              manufacturing process(es) for the Compound or Product(s) including storage conditions for raw materials, intermediates, current good manufacturing practices, intermediate(s), purity requirements, excipients, permitted impurities, packaging
              and labelling, and Product shelf-life, each as it relates to the Compound or any Product; as specified by the FDA or other applicable Regulatory Authority in the chemistry, manufacturing and controls section of an IND or NDA or any other
              Regulatory Submissions in the US, or the equivalent section of regulatory filings made outside of the US.

          

     

    	

          	1.1.12	
            “Clinical Trial(s)” means Phase I Clinical Trial, Phase II Clinical Trial, Phase III Clinical Trial and/or post-Regulatory Approval clinical trial, as the context dictates.

          

     

    	

          	1.1.13	
            “Commercially Reasonable Efforts” means, [**]

          

     

    	

          	1.1.14	
            “Commercialize” means any and all activities undertaken before and after Regulatory Approval related to the commercialization of any Product, including pre-launch, launch and post-launch marketing,
              promoting, detailing, distributing (including as applicable, importing, exporting, transporting, customs clearance, warehousing, invoicing, handling and delivering Products to customers), selling or offering to sell any Product, including any
              and all Manufacturing activities, pharmacovigilance and scientific and medical affairs in support of the foregoing. “Commercialization” and “Commercializing” shall have a corresponding meaning.

          

     

    	

          	1.1.15	
            “Compound” means phentolamine or a salt thereof (including phentolamine mesylate) and in any combination with Pilocarpine.

          

     

    	

          	1.1.16	
            “Control” or “Controlled” means, with respect to any proprietary, trade secret or other data or information, the legal authority or right (whether by
              ownership, license or otherwise) of a Party or its Affiliates to grant a license or a sublicense of data to the other Party or its Affiliates or provide such data or other information to such other Party or its Affiliates without breaching
              the terms of any agreement with a Third Party, or misappropriating the proprietary or trade secret information of a Third Party or without giving rise to any financial or other obligation to any Third
              Party.

          

     

    	

          	1.1.17	
            “Develop” or “Development” means, with respect to the Compound or any Product, all drug research and development activities, including, without limitation,
              test method development and stability testing, assay development and audit development, toxicology, formulation, pharmaceutical development, quality assurance/quality control development, statistical analysis, pre-clinical and other
              non-clinical testing, clinical studies, process development, packaging development, manufacturing scale-up, product validation activities, regulatory affairs, and the preparation, filing and prosecution of Regulatory Submissions with
              Regulatory Authority, including, without limitation, the FDA, in order to obtain the Regulatory Approval for any such Product, and “Developing” shall have its corresponding meaning.

          

     

    	

          	1.1.18	
            “Development Budget” has the meaning ascribed to the term in Section 4.2.1.

          

     

    	

          	1.1.19	
            “Development Costs” means, the reasonable Out-Of-Pocket Costs and Development FTE Costs incurred by Licensor or its Affiliates, or subcontractors after the
              Effective Date in the performance of Development activities and pre-commercialization activities that are directly attributable and reasonably allocable to the Development and/or pre-commercialization activities of a Compound or a Product, to
              the extent incurred in accordance with the Development Budget [**]

          

     

    
      3

      
        

    

    	

          	1.1.20	
            “Development Data” means all data (including raw data) and results generated under Development of the Product or Compound by the Licensor, including reports and related documentation set out in
              Section 5.7.

          

     

    	

          	1.1.21	
            “Development Excess Costs” has the meaning ascribed to the term in Section [**]

          

     

    	

          	1.1.22	
            “Development FTE Costs” means, as applicable with respect to any period, the aggregate of all FTE Contributions for such period.

          

     

    	

          	1.1.23	
            “Development Plan” means the detailed plan for Development activities designed to obtain Regulatory Approval of each of the four (4) Products, as approved by the Steering Committee together with the
              detailed timeline and budget for such activities (as updated or amended in accordance with Section 5.5.1). An outline of the Development Plan which sets out and describes material Development activities required for obtaining the aforesaid
              Regulatory Approvals is attached hereto as Schedule 2.

          

     

    	

          	1.1.24	
            “Dollars” or “$” means US dollars.

          

     

    	

          	1.1.25	
            “Effective Date” has the meaning ascribed to the term in the Preamble.

          

     

    	

          	1.1.26	
            “EMA” means European Medicines Evaluation Agency or any successor entity thereto.

          

     

    	

          	1.1.27	
            “Encumbrance” means any mortgage, pledge, assessment, security interest, option, deed of trust, lease, lien, levy, license or other grant of rights, restriction on transferability, charge, or other
              encumbrance of any kind, whether voluntarily incurred by Licensor or arising by operation of Law applicable to Licensor (or any of its assets) or any conditional sale or title retention agreement or other agreement entered into by Licensor to
              give any of the foregoing in the future.

          

     

    	

          	1.1.28	
            “Excluded Territory” means all countries and jurisdictions in Asia (except China and its territories of Hong Kong, Taiwan, and Macau, Japan, Thailand,  Vietnam and India) and such other territories
              as may be classified as Excluded Territory in accordance with Section 11 (Term and Termination) of this Agreement. [**]

          

     

    	

          	1.1.29	
            “Excluded Territory Commercialization” has the meaning ascribed to the term in Section 6.3.

          

     

    	

          	1.1.30	
            “Excluded Territory Development” has the meaning ascribed to the term in Section 5.4.

          

     

    	

          	1.1.31	
            “Export Control Laws” means all applicable U.S. laws and regulations relating to: (a) sanctions and embargoes imposed by the Office of Foreign Assets Control of the U.S. Department of Treasury, or
              (b) the export or re-export of commodities, technologies, or services, including the Export Administration Act of 1979, 24 U.S.C. §§ 2401-2420, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-1706, the Trading with the
              Enemy Act, 50 U.S.C. §§ 1 et. seq., the Arms Export Control Act, 22 U.S.C. §§ 2778 and 2779, and the International Boycott Provisions of Section 999 of the U.S. Internal Revenue Code of 1986, in each case, as amended.

          

     

    
      4

      
        

    

    	

          	1.1.32	
             “FCPA” means the U.S. Foreign Corrupt Practices Act (15 U.S.C. Section 78dd-1, et. seq.), as amended.

          

     

    	

          	1.1.33	
            “FDA” means the United States Food and Drug Administration or any successor entity
              thereto.

          

     

    	

          	1.1.34	
            “FDA Approval” has the meaning ascribed to the term in Section 4.1.1(a).

          

     

    	

          	1.1.35	
            “FDA Submissions” has the meaning ascribed to the term in Section 4.3.2.

          

     

    	

          	1.1.36	
            “Field(s)” means the area of ophthalmology.

          

     

    	

          	1.1.37	
            “First Commercial Sale” means, with respect to a Product in a country in the Territory, the first sale or commercial transfer or disposition in an arms-length transaction
              for value of such Product in such country to a Third Party by Licensee, its Affiliates or their sublicensees, after receipt of Regulatory Approval for such Product in such country.

          

     

    	

          	1.1.38	
            “Force Majeure” means any unavoidable and unforeseeable event which is beyond the reasonable control of the Party affected, including but not limited to the following events: acts of God, earthquake, storm, flood, fire or other acts of nature, acts of aggression, civil disorders or commotions, war

              (whether or not declared), riot, public disturbance, non-performance due to policies of a Governmental Authority, a national emergency or appropriations of property, strike or lockouts, government
              actions, terrorist attack or the like and epidemic, provided that the COVID-19 pandemic and/or any measures taken by any Governmental Authority in connection with such pandemic shall in no case qualify as Force Majeure event.

          

     

    	

          	1.1.39	
            “FTE Contribution” means [**] multiplied by [**]

          

     

    	

          	1.1.40	
            “GCP” means the current Good Clinical Practices officially published by EMA, FDA, and the International Council for Harmonisation of Technical Requirements for Registration of Pharmaceuticals for
              Human Use (ICH) that may be in effect from time to time, and further including analogous set of regulations, guidelines or standards as defined, from time-to-time, that are applicable to the Compound and Product.

          

     

    	

          	1.1.41	
            “Generic Competition” means, when on a country or other jurisdiction and Product basis, volume of unit sales of a Generic Product(s) sold in such country or other jurisdiction by one (1) or more
              Third Party(ies) in a Calendar Quarter is at least [**] of the aggregate volume of unit sales of such Product sold by the Licensee or its Affiliates or sublicensees. Unless otherwise agreed by the Parties, the sales of each Generic Product
              sold during a Calendar Quarter shall be as reported by IQVIA, Inc. or any successor to IQVIA, Inc. or any other independent sales auditing firm reasonably agreed upon by the Parties.

          

     

    	

          	1.1.42	
            “Generic Product(s)” means, with respect to a Product that has received Regulatory Approval granted by a Governmental Authority in a country in the Territory, a pharmaceutical product which contains
              any phentolamine salt which is highly similar, or similar enough to the one contained in a reference Product, notwithstanding minor differences in clinically inactive components, to permit an applicant for Governmental Authority to refer to
              and rely on clinical and other scientific information regarding the safety, purity, potency and/or efficacy of the reference Product in order to allow such pharmaceutical product to receive Regulatory Approval in any jurisdiction within the
              Territory through an abbreviated, expedited, or other similar regulatory pathway,  that is marketed for sale in such country by a Third Party other than pursuant to any rights granted by Licensee or their Affiliates.

          

     

    
      5

      
        

    

    	

          	1.1.43	
            “GLP” means the current Good Laboratory Practices officially published by the EMA and / or
              FDA, as may be in effect or amended from time to time, and further including analogous set of regulations, guidelines or standards as defined, from time-to-time, by any relevant Governmental Authority, that are applicable to the Development,
              use, Manufacture and/or Commercialization of the Compound or Product.

          

     

    	

          	1.1.44	
            “GMP” means the current Good Manufacturing Practices officially published by the EMA, FDA, or
              ICH, as may be amended from time to time, and further including an analogous set of regulations, guidelines or standards as defined, from time-to-time, by any relevant Governmental Authority, that are applicable to the Development, use,
              Manufacture and/or Commercialization of the Compound or Product.

          

     

    	

          	1.1.45	
            “Governmental Authority” means any court, agency, authority, department, legislative or regulatory body or other instrumentality of any government, country, or national, federal, state, provincial,
              regional, county, city, ethical committee, or other political subdivision of any such government or country, a supra- national organization of which any such government or country is a member, or quasi-governmental authority or
              self-regulatory organization of competent authority.

          

     

    	

          	1.1.46	
            “HIPAA” means the Health Insurance Portability and Accountability Act of 1996 as it may be amended from time to time, and any regulations issued thereunder.

          

     

    	

          	1.1.47	
            “IFRS” means the International Financial Reporting Standards as adopted by the United Kingdom, applied on a consistent basis.

          

     

    	

          	1.1.48	
            “IND” means an Investigational New Drug Application to the FDA as required under 21 CFR §312 or an equivalent application required in a foreign jurisdiction.

          

     

    	

          	1.1.49	
            “Indemnity Claim” means any and all Third Party demands, claims, actions, proceedings, and liability (whether criminal or civil, in contract, tort or
              otherwise) for losses, damages, costs, (including reasonable attorneys’ fees and expenses) and other expenses of any nature whatsoever.

          

     

    	

          	1.1.50	
            “Indemnified Party” has the meaning ascribed to the term in Section 10.4.1.

          

     

    	

          	1.1.51	
            “Indemnifying Party” has the meaning ascribed to the term in Section 10.4.1.

          

     

    	

          	1.1.52	
            “Information” means all proprietary information and data of a financial, commercial, clinical or technical nature, including Know-How, owned or Controlled by a Party, which has been supplied or
              otherwise made available to the other Party or its Affiliates, under this Agreement and whether made available orally (if and to the extent a written summary of such oral information is made available within thirty (30) days after the oral
              information is made available), in writing or in electronic form, including information comprising of or relating to concepts, discoveries, inventions, (whether or not patentable), data, designs or formulae.

          

     

    	

          	1.1.53	
            “Infringement” has the meaning ascribed to the term in Section 8.5.1.

          

     

    
      6

      
        

    

    	

          	1.1.54	
            “Insolvency Event” means, in relation to a Party, any one of the following: (a) such Party is the subject of voluntary or involuntary bankruptcy proceedings instituted on behalf of or against such
              Party (except for involuntary bankruptcy proceedings which are dismissed within sixty (60) days); (b) an administrative receiver, receiver and manager, interim receiver, custodian, sequestrator or similar officer is appointed for
              substantially all of the assets of such Party; (c) a resolution to wind up such Party shall have been passed, other than a resolution for the solvent reconstruction or reorganization of such Party; or (d) a resolution shall have been passed
              by such Party’s board of directors to make an application for an administration order or to appoint an administrator for substantially all of the assets of such Party.

          

     

    	

          	1.1.55	
            “Intellectual Property” means all rights in Patents, rights to inventions, copyrights and related rights, rights in trademarks, trade names, trade dress, and domain names, rights in designs, rights
              in computer software, database rights, rights in Information, Know-How and any other intellectual property rights, in each case whether registered or unregistered and whether arising under statute or common law, including all applications (or
              rights to apply) for, and renewals or extensions (for their full term) of, such rights and all similar or equivalent rights or forms of protection which subsist now or will subsist at any time during the Term in any part of the world.

          

     

    	

          	1.1.56	
            “Key Issue” has the meaning ascribed to the term in Section 4.4.1.

          

     

    	

          	1.1.57	
            “Know-How” means all existing and available technical information, know-how and data, including inventions (whether patentable or not), discoveries, trade secrets, package specifications, chemical
              specifications, analytical test methods, stability data, testing data, product specifications, instructions, processes, formulation information, validation documents, materials (including all biological and chemical materials), drawings,
              formulae, reports, and other technology and techniques including all biological, chemical, pharmacological, toxicological, pharmaceutical, physical and analytical, clinical safety, safety data, preclinical and clinical data, and expertise and
              other technology applicable to compounds, molecules, cell lines, formulations, compositions, products or to their manufacture, development, registration, use or commercialization or methods of assaying or testing them or process for their
              manufacture, formulations containing them, compositions incorporating or com- prising them, expertise and information, regulatory filings and copies thereof, relevant to the development, manufacture, use or commercialization of and/or which
              may be useful in studying, testing, development, production or formulation of products, or intermediates for the synthesis thereof.

          

     

    	

          	1.1.58	
            “Law” means any statute, law, regulation, rule, code, order, ordinance, judgment, or requirement of a Governmental Authority, including for clarity GCP, GLP and GMP.

          

     

    	

          	1.1.59	
            “Legal Proceeding” means any notice, action, suit, litigation, arbitration, proceeding (including any civil, criminal, administrative, investigative or appellate proceeding), hearing, inquiry, audit,
              examination or investigation commenced, brought, conducted or heard by or before, or otherwise involving, any court or other Governmental Authority or any arbitrator or arbitration panel.

          

     

    	

          	1.1.60	
            “License” has the meaning ascribed to the term in Section 2.1.

          

     

    	

          	1.1.61	
            “Licensee Improvements” has the meaning ascribed to the term in Section 8.2.1.

          

     

    
      7

      
        

    

    	

          	1.1.62	
            “Licensor Improvements” has the meaning ascribed to the term in Section 8.3.1.

          

     

    	

          	1.1.63	
            “Licensed Intellectual Property” means the Licensed Patents, Licensed Know-How, and Licensed Marks.

          

     

    	

          	1.1.64	
            “Licensed Know-How” means all Know-How relating to the Compound and/or the Product(s) (including Know-How used or relevant for the Development, Manufacturing and/or Commercialization thereof in the
              Field) owned, created and/or Controlled by Licensor prior to or as of the Effective Date or at any time during the Term, including the Product-Related Document and Data, and Know-How identified in Schedule 1.

          

     

    	

          	1.1.65	
            “Licensee Terminated Product(s) in Terminated Country(ies)” has the meaning ascribed to the term in Section 11.3.2.

          

     

    	

          	1.1.66	
            “Licensed Marks” means the ‘Marks’ that are identified in Schedule 1.

          

     

    	

          	1.1.67	
            “Licensed Patents” means any and all Patents that are owned, created or Controlled by Licensor or any of its Affiliates prior to or as of the Effective Date or at any time during the Term, that: (a)
              claim a Product and/or the Compound, or a process used in the manufacture of a Product and/or Compound; or (b) are necessary or useful for the Development, Manufacture and/or Commercialization of the Product, including the Patents set out in
              Schedule 1.

          

     

    	

          	1.1.68	
            “Licensee” has the meaning ascribed to the term in the Preamble.

          

     

    	

          	1.1.69	
            “Licensee Indemnitees” has the meaning ascribed to the term in Section 10.1.1.

          

     

    	

          	1.1.70	
            “Licensor” has the meaning ascribed to the term in the Preamble.

          

     

    	

          	1.1.71	
            “Licensor Indemnitees” has the meaning ascribed to the term in Section 10.2.1.

          

     

    	

          	1.1.72	
            “Manufacture” or “Manufacturing” means any and all activities directed to the manufacture, storage and handling of the Compound and/or Product, and the
              manufacture, processing, formulation, fill, finish, packaging, labelling, warehousing, quality control testing (including in-process, release and stability testing), supplying, shipping, and release thereof, including manufacturing process
              development, scale-up, yield and other improvements, and validation and other testing, as well as recordkeeping, data and database development, management, storage and retention activities relating to any of the foregoing in this definition.

          

     

    	

          	1.1.73	
            “Monthly Payments” has the meaning ascribed to the term in Section [**]

          

     

    	

          	1.1.74	
            “NDA” means an application submitted for Regulatory Approval to market any Product in any country, including a New Drug Application (as defined in 21 CFR §
              314) submitted to the FDA, any successor or supplemental applications or procedures, and/or any supplements and amendments that may be filed with respect to the foregoing.

          

     

    	

          	1.1.75	
            “Net Sales” means, with respect to a Product, the gross amounts invoiced by Licensee, its Affiliates, and permitted sublicensees for any Product to a Third Party in accordance with the Accounting
              Standards, less customary and documented deductions to the extent allocated to such Product (and consistently applied as set forth below), including:

          

     

    [**]

     

    
      8

      
        

    

    	

          	1.1.76	
            “Out-of-Pocket Costs” means the actual amounts paid by a Party or its Affiliate to a Third Party for specific external activities conducted for the Compound or Products.

          

     

    	

          	1.1.77	
            “Party” or “Parties” has the meaning ascribed to the term in the Preamble.

          

     

    	

          	1.1.78	
            “Patent” means any and all: (a) granted patents; (b) pending patent applications, including all provisional applications, divisionals, continuations, substitutions, continuations-in-part and
              renewals, and all patents granted thereon; (c) patents-of-addition, re-examinations, reissues and extensions or restorations by existing or future extension or restoration mechanisms, including patent term adjustments, patent term extensions,
              supplementary protection certificates or the equivalent thereof; (d) inventor’s certificates; and (e) other forms of government-issued rights substantially similar to any of the foregoing.

          

     

    	

          	1.1.79	
            “Patent Challenge” has the meaning ascribed to the term in Section 11.2.1(c).

          

     

    	

          	1.1.80	
            “Person” means any individual, partnership, limited liability company, firm, corporation, association, trust, unincorporated organization, or other entity.

          

     

    	

          	1.1.81	
            “Phase I Clinical Trial” means a study of an investigational new or existing drug in humans for the purpose of preliminary determination of safety in healthy individuals or patients consistent with
              the meaning of U.S. 21 C.F.R. §312.21(a) or its foreign equivalents.

          

     

    	

          	1.1.82	
            “Phase II Clinical Trial” means a study of an investigational new or existing drug in humans for the purposes of preliminary determination of efficacy and/or
                preliminary establishment of appropriate dosage ranges for efficacy and safety in patients, consistent with the meaning of U.S. 21 C.F.R. §312.21(b) or its foreign equivalents.

          

     

    	

          	1.1.83	
            “Phase III Clinical Trial” means a study of an investigational new or existing drug in humans for the demonstration of the efficacy and safety of a product, which is designed to demonstrate
              statistically whether such product is effective and safe for use in a particular indication in a manner sufficient to be submitted in an application for Regulatory Approval, consistent with the meaning of U.S. 21 C.F.R. §312.21(c) or its
              foreign equivalents.

          

     

    	

          	1.1.84	
            “Product(s)” means:

          

     

    	

          	(a)	
            0.75% phentolamine ophthalmic solution (or 1% phentolamine mesylate ophthalmic solution) used for treating: (a) reversal of mydriasis (“Product 1A”); (b) night vision disturbances or dim light vision
              (“Product 1B”); and (c) presbyopia (“Product 1C”) (collectively “Product 1”).

          

     

    	

          	(b)	
            0.75% phentolamine ophthalmic solution (or 1% phentolamine mesylate ophthalmic solution) in combination with 0.4% Low Dose Pilocarpine (“LDP”) ophthalmic solution (“Product

                2”) used for treating presbyopia.

          

     

    	

          	1.1.85	
            “Product Marks” has the meaning ascribed to the term in Section 8.6.

          

     

    
      9

      
        

    

    	

          	1.1.86	
            “Product-Related Document and Data” means any and all information, documents, materials and results of any type related to the Compound or the Products which is held or in Control of Licensor,
              whether or not proprietary, including research, Development, pre-clinical data, pharmacology data, chemistry data (including analytical, product characterization, toxicology data), clinical data (including original patient report forms,
              investigator reports (both preliminary and final reports), clinical protocols, statistical analyses, expert opinions and reports, safety and other electronic databases), Manufacturing data (including analytical and quality control data and
              stability data, other chemistry and medical CMC data), correspondence to and from any Regulatory Authority, minutes from teleconferences with any Regulatory Authority, Regulatory Submissions and Regulatory Approvals, adverse drug reaction /
              experience files and complaint files, reports from contract research organizations, investigators’ brochures.

          

     

    	

          	1.1.87	
            “Regulatory Approval” means, with respect to any Product, any approval (notwithstanding the indication), registration, license, or authorization from a Regulatory Authority to market and sell such
              Product in the Field in one or more countries in the Territory.

          

     

    	

          	1.1.88	
            “Regulatory Authority” means any national or supranational Governmental Authority, including the FDA in the US, the European Medicines Agency (and any successor entity thereto) in the EU, or any
              health regulatory authority in any country or other jurisdiction that is a counterpart to the foregoing agencies, in each case, that holds responsibility for the Development and Commercialization of, and the granting of marketing approval
              for, pharmaceutical products in such country or jurisdiction.

          

     

    	

          	1.1.89	
            “Regulatory Correspondence” has the meaning ascribed to the term in Section 4.3.1.

          

     

    	

          	1.1.90	
            “Regulatory Milestone” has the meaning ascribed to the term in Schedule 3.

          

     

    	

          	1.1.91	
            “Regulatory Submission” means, with respect to any Product, any submission to a Regulatory Authority for any appropriate Regulatory Approval.

          

     

    	

          	1.1.92	
             “ROW” has the meaning ascribed to the term in Section 5.1.

          

     

    	

          	1.1.93	
            “Royalty” has the meaning ascribed to the term in Schedule 3.

          

     

    	

          	1.1.94	
            “Royalty Payments” has the meaning ascribed to the term in Schedule 3.

          

     

    	

          	1.1.95	
            “Royalty Term” has the meaning ascribed to the term in Schedule 3.

          

     

    	

          	1.1.96	
            “Sales Milestone” has the meaning ascribed to the term in Schedule 3.

          

     

    	

          	1.1.97	
            "Secretary" means a representative of the Licensee on the Steering Committee designated as the secretary of the Steering Committee by the Licensee.

          

     

    	

          	1.1.98	
            “Steering Committee” means the committee incorporated in accordance with Section 5.5.1.

          

     

    	

          	1.1.99	
            “Term” has the meaning ascribed to the term in Section 11.1.

          

     

    	

          	1.1.100	
            “Territory” means worldwide, except for Excluded Territory.

          

     

    
      10

      
        

    

    	

          	1.1.101	
            “Third Party” means any Person other than a Party or an Affiliate of a Party.

          

     

    	

          	1.1.102	
            “Transition Plan” has the meaning ascribed to the term in Section 4.5.1.

          

     

    	

          	1.1.103	
            “United States of America”, or “US” means United States, its territories, commonwealths, and possessions, including, but not limited to, the District of
              Columbia, Commonwealth of Puerto Rico, the U.S. Virgin Islands, the Marshall Islands and Guam.

          

     

    	

          	1.1.104	
            “US GAAP” means US Generally Accepted Accounting Principles as consistently applied by the Licensor, and any other internationally recognized accounting standards that may be adopted by the Licensor
              from time to time.

          

     

    	

          	1.1.105	
            “Viatris Group” means Viatris Inc. and any entity in which, or who has, directly or indirectly a right to: (a) exercise [**] or more of voting rights of or by Viatris, or (b) appoint more than [**]
              of the members of board of directors by, or in, Viatris, which includes its subsidiaries, Affiliates, or shareholders.

          

     

    	1.2	
            Interpretation

          

     

    In this Agreement (unless the context otherwise requires):

     

    	

          	1.2.1	
            “includes” and “including” shall mean respectively includes and including without limitation;

          

     

    	

          	1.2.2	
            words denoting the singular shall include the plural and vice versa and words denoting any gender shall include all genders;

          

     

    	

          	1.2.3	
            the Schedules and other attachments form part of the operative provision of this Agreement and references to this Agreement shall, unless the context otherwise requires, include references to the Schedules and attachments;

          

     

    	

          	1.2.4	
            references to Sections are to Sections of this Agreement unless otherwise specified;

          

     

    	

          	1.2.5	
            a reference to an enactment or statutory provision is a reference to it as it may from time to time be amended, modified, consolidated, repealed, or re-enacted and shall include any orders, regulations, instruments, or other subordinate
              legislation made under the relevant statute;

          

     

    	

          	1.2.6	
            the headings in this Agreement are for information only and shall not be considered in the interpretation of this Agreement;

          

     

    	

          	1.2.7	
            the expression “agreed form” in relation to any document shall mean the document in such form and substance as agreed between Licensee and Licensor, and initialled for the purpose of identification, by each of them;

          

     

    	

          	1.2.8	
            any reference to “writing” or “written” includes faxes and any legible reproduction of words delivered in permanent and tangible form (but does not include email);

          

     

    	

          	1.2.9	
            the words “hereof”, “herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement;

          

     

    
      11

      
        

    

    	

          	1.2.10	
            the word “or” includes “and/or”; and

          

     

    	

          	1.2.11	
            the Parties agree that the terms and conditions of this Agreement are the result of negotiations between the Parties and that this Agreement shall not be construed in favour of or against any Party by reason of the extent to which any
              Party participated in its preparation.

          

     

    	1.3	
            The Parties acknowledge and agree that the terms of this Agreement and their respective rights and obligations under this Agreement shall come into force on the Effective Date.

          

     

    	2.	
            GRANT OF LICENSE

          

     

    	2.1	
            License. Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee:

          

     

    	

          	2.1.1	
            an exclusive (even as to Licensor, except for limited rights retained by Licensor under Section 2.2), perpetual, sub-licensable (subject to the terms of Section 2.3), license to use the Licensed Intellectual Property to Develop the
              Compound and/or the Products in the Field and in the Territory; and

          

     

    	

          	2.1.2	
            an exclusive (even as to Licensor), perpetual, sub-licensable (subject to the terms of Section 2.3), license to use the Licensed Intellectual Property to Manufacture, have Manufactured, import, export and Commercialize the Compound and/or
              the Products in the Field and in the Territory in each case subject to the termination rights in Section 11 (Term and Termination) of this Agreement

          

     

    (collectively the “License”).

     

    	2.2	
            Retained Rights.

          

     

    	

          	2.2.1	
            To the extent of the Territory, Licensor retains a limited, non-exclusive right for itself and its Affiliates under the Licensed Intellectual Property solely to conduct the Development of the Products and/or the Compound on behalf of
              Licensee in the Territory and in compliance with the terms of this Agreement.

          

     

    	

          	2.2.2	
            Licensor retains the exclusive right to Develop, Manufacture, have Manufactured, import, export and Commercialize the Product in the Excluded Territory.

          

     

    	2.3	
            Sublicense. The Licensee may sub-license its rights under the License, in whole or part [**]

          

     

    	

          	2.3.1	
            Each sublicense entered into by Licensee shall refer to this Agreement and, except to the extent the Parties otherwise agree in writing, any such sublicense must be consistent in all material respects with the applicable terms and
              conditions of this Agreement. Licensee shall secure all appropriate covenants, obligations and rights from any such sublicensee, including, but not limited to, protection of intellectual property rights and confidentiality obligations, to
              ensure that such sublicensee is subject to, and Licensee can comply with, all of Licensee’s covenants and obligations to the Licensor under this Agreement. Without limiting the generality of the foregoing, Licensee shall not grant any
              sublicensee under this Agreement rights outside the Field or Territory. Licensee shall not be relieved of its obligations under this Agreement as a result of granting any sublicense for any of its activities except to the extent such
              obligations are satisfactorily performed by the applicable sublicensee in a manner consistent with Licensee’s obligations under this Agreement. In the case of breach of any of Licensee’s material obligations hereunder by any sublicensee,
              Licensor may elect to require Licensee to enforce its agreement against such sublicensee and/or Licensor may give written notice of material breach.

          

     

    
      12

      
        

    

    	3.	
            KNOW-HOW TRANSFER

          

     

    	3.1	
            Within [**] from the payment of the Upfront Payment as set out in Section 1(a) of Schedule 3, Licensor shall deliver and transfer to Licensee a data package containing [**]. To the extent that the Licensed Intellectual Property is
              not fully embodied in the delivered documents and electronic records, Licensor shall disclose the same to Licensee and its employees and designated representatives, orally, including by training and by demonstration by Licensor’s employees
              and experts, at no additional cost to Licensee.

          

     

    	3.2	
            Licensor shall introduce Licensee to all external consultants (including consultants providing regulatory, clinical, CMC and/or intellectual property related services) that Licensor had previously contracted for the Development,
              Manufacture and/or Commercialization of the Products.

          

     

    	4.	
            DEVELOPMENT

          

     

    	4.1	
            Licensor Conduct of Development

          

     

    	

          	4.1.1	
            Licensor shall:

          

     

    	

          	(a)	
            use [**] to undertake the Development of the Products in the US to obtain Regulatory Approval from the FDA for each of the Products (“FDA Approval”).

          

     

    	

          	(b)	
            use [**] to ensure all such Development is performed in accordance with this Agreement, the Development Plan (including the timelines and budgets indicated therein), and directions of the Steering Committee.

          

     

    	

          	(c)	
            ensure all Development is performed in accordance with applicable Law (including by complying with GLP, GMP, GCP and obtaining relevant Regulatory Approvals) and in a good scientific manner.

          

     

    	

          	(d)	
            act as the sponsor of the study(ies) in relation to the Development under the existing INDs for the Compound and Products obtained by Licensor in its name. Except as outlined in this Agreement, Licensor shall be responsible for all
              operational aspects of such studies pursuant to Development.

          

     

    	

          	4.1.2	
            Licensee shall have the right to participate in any development meetings (in person or virtual) or events held by the Licensor in connection with the Development of the Products that the Licensee becomes aware of (including consequent to
              any discussions in the Steering Committee) and if so requested by the Licensee, the Licensor shall invite representative(s) of the Licensee to such development meetings or events.

          

     

    	4.2	
            Development Costs

          

     

    	

          	4.2.1	
            Licensor shall undertake and complete all Development, for and up to FDA Approval for each of the four (4) Products, in accordance with Section 4.1, within the timelines and line item based budget set out in the Development Plan (the “Development Budget”), which Licensor agrees and acknowledges can reasonably be completed in aggregate for no more than [**] (“Aggregate Amount”).

          

     

    
      13

      
        

    

    	

          	4.2.2	
            Payments. Within [**] from the completion of each [**] Licensor shall issue to the Licensee an invoice reflecting and enclosing Third Party invoices actually received and paid in such [**] (which invoices may be for Development
              prior [**] but in no event related to periods prior to the Effective Date), along with details of all Development FTE Costs for such [**]. Within [**] from receipt of such invoice, Licensee shall pay
              Licensor the amount set forth in the invoice [**]

          

     

    	

          	4.2.3	
            [**]

          

     

    	

          	4.2.4	
            Overruns. [**] 

          

     

    	

          	4.2.5	
            [**]

          

     

    	

          	4.2.6	
            [**]

          

     

    	4.3	
            Regulatory Matters

          

     

    	

          	4.3.1	
            Up to completion of the Clinical Trials. Licensor shall have the responsibility for preparing and submitting all filings and correspondence (“Regulatory Correspondence”) with Regulatory
              Authorities up to the successful completion of Clinical Trials.

          

     

    	

          	4.3.2	
            Applying for FDA Approval and post application. Subject to the terms of this Agreement, Licensor shall have the responsibility for preparing all submissions and correspondence post the completion of the Clinical Trials as set out in
              Section 4.3.1, for obtaining the FDA Approvals (collectively, “FDA Submissions”). All such FDA Submissions will be presented before the Steering Committee on a regular basis, and material FDA
              Submissions (including Type A, Type B, and Type C meetings with the FDA and all NDA submissions, except for the NDA submission for Product 1A (if such NDA submission is filed within 30 (thirty) days of the Effective Date, failing which,
              approval of the Licensee designee would be sought prior to such NDA submission) will require approval of a designee of the Licensee prior to submission.

          

     

    	

          	4.3.3	
            A designee of Licensee shall collaborate with Licensor for all FDA Submissions and Regulatory Correspondence. A designee of the Licensee shall be involved in all weekly progress meetings relating to the Development of the Product(s)
              (including regulatory discussions).

          

     

    	

          	4.3.4	
            Any and all FDA Approval shall be filed for with the Licensor as the named applicant. Following transfer of any FDA Approval, Licensee shall maintain the FDA Approvals with the assistance, as may be required by the Licensee from the
              Licensor from time to time. [**] Each Party shall promptly submit any and all notices and authorizations to the Regulatory Authorities that are necessary to affect the transfer and acceptance of such NDA submission, FDA Submissions and the
              FDA Approval.

          

     

    	

          	4.3.5	
            All communications by the Licensor with the FDA in relation to the Product or the Compound shall be presented before the Steering Committee on a regular basis. Licensee shall have
              representative(s) attend any meetings / interactions that Licensor has with the FDA in relation to the Product or Compound.

          

     

    
      14

      
        

    

    	

          	4.3.6	
            If any Regulatory Authority conducts, or gives notice to Licensor of its intent to conduct an inspection or audit at any investigational site or any Licensor office or facility or to take any other regulatory action, or otherwise makes an
              inquiry, in each case with respect to or involving the Development activities or any clinical trial related thereto, Licensor shall, unless prohibited from doing so by applicable Law, notify Licensee within three (3) Business Days after
              Licensor first learns of such governmental inspection or audit and notify Licensee in advance of any proposed plan of action for responding to or complying with any associated demand or request of such Regulatory Authority. To the extent
              permitted under applicable Law, Licensor shall provide Licensee with the opportunity: (a) to have a representative present at any regulatory inspection or audit, and (b) to review in advance and comment on any communications or submissions
              proposed to be made by the Licensor to any Regulatory Authority in relation to any inquiry, inspection, or audit.

          

     

    	4.4	
            Key Issues

          

     

    	

          	4.4.1	
            In the event, during Development in relation to any of the Products, the Licensor becomes aware of any reason to believe [**] the Licensor shall report such event (a, “Key Issue”) promptly to the
              Steering Committee [**]

          

     

    	4.5	
            Transition

          

     

    	

          	4.5.1	
            The Steering Committee in its sole discretion may decide to transition any Development (including any ongoing trials) from Licensor (including its sub-contractors) to Licensee or other Third Party identified by the Steering Committee. The
              Steering Committee would put together a reasonable plan to factor in such transition, with such transition to be completed within 90 days (“Transition Plan”). For avoidance of doubt, the obligations of
              Licensee to make payments in accordance with Schedule 3 are separate from Development and shall subsist notwithstanding any transition under this Section 4.5.

          

     

    	

          	4.5.2	
            Licensor will make available and transfer to Licensee or Third Party identified by the Steering Committee, with reimbursement by Licensee of reasonable costs incurred, originals or copies of currently available records, data and
              documentation which exist and are Controlled by Licensor its sub-contractors or their respective Affiliates and are necessary for Licensee or Third Party to continue Developing the applicable Product and ensure that Licensee obtains the
              benefits of any or all Third Party agreements and with respect to any activities that involve human clinical trials, transfer control to Licensee or its designee of such clinical trials. Licensor will give effect to the assignment or other
              transfer by Licensor, its sub-contractors, or its Affiliate, to Licensee or the Third Party identified by the Steering Committee of all existing documentation filed by Licensor with the FDA.

          

     

    	

          	4.5.3	
            After Licensee assumes any Development activities, Licensee shall no longer have any obligation to pay Licensor any Development Costs in respect of such Products after the date of such assumption. Each Party shall perform the transition
              activities specified for each Party in the Transition Plan and to otherwise reasonably cooperate with Licensee to enable the continued, efficient, uninterrupted Development of the applicable Product.

          

     

    
      15

      
        

    

    	5.	
            LICENSEE DEVELOPMENT AND GOVERNANCE

          

     

    	5.1	
            Licensee Development and Regulatory Obligations. Subject to Licensor successfully completing Development of a Product and successfully obtaining Regulatory Approval for such Product, Licensee shall
              use [**] to undertake the Development of such Product in the Territory outside of the US (the “ROW”) to obtain and maintain Regulatory Approval from the applicable Governmental Authority, doing so at
              the sole cost and expense of Licensee. Without limiting the generality of the foregoing, Licensee shall use [**] to begin development of a Product within [**] years after Regulatory Approval of a Product is received in the United States.

          

     

    	5.2	
            Sub-Contracting

          

     

    	

          	5.2.1	
            Permitted Licensee Subcontracting. Licensee may engage one or more Third Parties as contract service providers to perform its obligations under this Agreement for or on behalf of Licensee without the prior consent of Licensor.

          

     

    	

          	5.2.2	
            Permitted Licensor Subcontracting. Licensor may engage one or more Third Parties as contract service providers to perform its obligations under this Agreement for or on behalf of Licensor without the prior consent of
              Licensee, provided that, prior to engaging any sub-contractor for any material Development activity (CROs or CMOs) (other than any such sub-contractor engaged as of the Effective Date), Licensor shall seek approval for such sub-contracting
              from the Steering Committee.

          

     

    	5.3	
            Compliance. Each of Licensee and Licensor shall, and cause its Affiliates to, cause its sub-contractors to, comply with all requirements under this Agreement and under applicable Law in carrying out
              their respective duties and obligations under this Agreement. Any act or omission by such sub-contractors which if carried out by the Licensee or Licensor, as applicable, would be a material breach of this Agreement shall be deemed a material
              breach of this Agreement by Licensee or Licensor, as applicable.

          

     

    	5.4	
            Development in the Excluded Territory. Licensor may conduct Development of the Compounds and to use the Compounds for Regulatory Approval of the Products and/or other products in the Excluded
              Territory (“Excluded Territory Development”); provided that all Excluded Territory Development is conducted in compliance with applicable Law and that such Development does not have an adverse impact on
              Development activities, Regulatory Submissions and Regulatory Approvals for the Compound and/or Products in the Territory. Licensor shall promptly inform the Licensee upon becoming aware of any breach of applicable Law by the Licensor (or its
              Affiliates or sub-contractors) in the course of the Excluded Territory Development or upon occurrence of any event that is likely to have a risk of an adverse impact on Development activities, Regulatory Submissions and Regulatory Approvals
              for the Compound and/or Products in the Territory. If the Licensee determines, in its reasonable sole discretion [**] then the Parties shall engage in good faith productive discussion intended to determine an alternative course of development
              that would not give rise to such adverse risks, or sufficient to mitigate against any such adverse risk, if any. Provided that in the event Parties are unable to reach a consensus on a sufficient method to mitigate the adverse risk within
              [**] of commencing such discussions, then at the direction of the Licensee (acting in good faith and reasonably), the Licensor shall cease such Excluded Territory Development.

          

     

    
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    	5.5	
            Steering Committee Formation, Role, and Decision Making

          

     

    	

          	5.5.1	
            Within [**] from the Effective Date, the Parties shall establish a committee formed by equal members of both Parties (of at least three (3) members from each Party) which shall oversee and make decisions with respect to Licensor’s
              Development of the Products, including in respect to discussing and agreeing on all updates and amendments to the Development Plan, including the timeline and budget included therein (the “Steering Committee”).

              From time to time, each Party may substitute one or more of its representatives on the Steering Committee with written notice to the other Party.

          

     

    	

          	5.5.2	
            The Secretary of the Steering Committee shall call a meeting [**] The Secretary of the Steering Committee shall create the agenda items for each meeting, with each Party having
              the right to make proposals for agenda items and provide appropriate information with respect to such proposed items prior to the Steering Committee meeting. The Secretary shall prepare and circulate the minutes of each meeting of the
              Steering Committee and shall use efforts to complete this within [**] after such Steering Committee meeting. Representatives of the Parties on the Steering Committee may attend a meeting either in person or by telephone or tele video
              conference, or similar means in which each participant can hear what is said by and be heard by, the other participants. Representation by proxy shall be allowed. Each Party shall have a single vote irrespective of the number of
              representatives of such Party in attendance.

          

     

    	

          	5.5.3	
            A quorum of the Steering Committee shall exist whenever there is present at a meeting at least one representative appointed by each Party. Each Party shall make reasonable efforts to procure that their representatives are present for all
              meetings of the Steering Committee.

          

     

    	

          	5.5.4	
            In the event of any dispute or disagreement in relation to any oversight to be provided, or decisions to be made, by the Steering Committee, the senior executives of each Party shall attempt to resolve any such dispute within [**] of
              submission from the Steering Committee. If the senior executives cannot resolve such dispute within such [**] period, then, Licensee shall have the right to make the final decision on all matters.

          

     

    	5.6	
            Upon receipt of FDA Approval for all Products, or the Licensor ceasing to Develop in terms of this Agreement, or termination of this Agreement, the Steering Committee shall be dissolved, and its activities and authority shall be
              automatically terminated.

          

     

    	5.7	
            Reporting; Records; Audits.

          

     

    	

          	5.7.1	
            Reporting.

          

     

    	

          	(a)	
            At each regularly scheduled Steering Committee meeting, Licensor shall provide Licensee with a written report summarizing the significant Development activities conducted (either itself or through its Affiliates and sub-contractors) with
              respect to the Products and the safety and efficacy results generated from such activities, if any, since the last Steering Committee meeting. Such reports must be at a level of detail requested by the Steering Committee and sufficient to
              enable the Steering Committee to determine Licensor’s Development progress and compliance with its obligations under Section 4.1.

          

     

    
      17

      
        

    

    	

          	(b)	
            Licensor shall promptly provide Licensee with: (i) copies of all written or electronic communications received by it or its Affiliates or any sub-contractor from, or forwarded by it or its Affiliates to, any Regulatory Authority related to
              the Compound or the Products (including, the Development activities and related clinical trials), including copies of all minutes and summaries of all meetings and discussions scheduled with any Regulatory Authority concerning the Development
              activities (and related clinical trials); (ii) written notice of all meetings and discussions scheduled with any Regulatory Authority concerning the Development activities (and related clinical trials) in sufficient time to give Licensee a
              reasonable opportunity to attend such meetings and discussions; and (iii) responses to Licensee or Steering Committee’s questions or requests for additional information relating to such Development activities.

          

     

    	

          	(c)	
            Licensee shall promptly provide Licensor with copies of all written or electronic communications sent or received in relation to the Licensed Patents and otherwise inform Licensor in writing of all major developments in relation to the
              Licensed Patents and any external reports relating to the Product.

          

     

    	

          	5.7.2	
            Development Data. Licensor shall provide to Licensee copies of all Development Data in electronic form or other mutually agreeable alternate form as and when such Development Data arises. Licensor shall ensure that study
              investigators conducting Development obtain all patient authorizations and consents required under HIPAA, the EU Data Protection Directive, or any other similar applicable Law in connection with such Development to permit such sharing of
              Development Data with Licensee and exploitation of such Development Data for any and all uses under this Agreement.

          

     

    	

          	5.7.3	
            Records. Licensor shall maintain, in good scientific manner, complete and accurate books and records pertaining to the Development activities, in sufficient detail to verify compliance with its obligations under this Agreement and
              which shall be appropriate for patent and/or regulatory purposes, in compliance with applicable Law and properly reflect all work done and results achieved in the performance of the Development activities, which books and records shall record
              only the Development activities and shall not include or be commingled with records of activities outside the scope of this Agreement. Such books and records shall be retained by Licensor for at least three (3) years after the expiration or
              termination of this Agreement or for such longer period as may be required by applicable Law.

          

     

    	

          	5.7.4	
            Licensee Audits. No more than once per Calendar Year, Licensor shall permit Licensee to physically inspect the Licensor’s premises or audit the facilities, systems and equipment at or through which the Development activities are
              conducted (including Third Party facilities), and personnel, procedures, programming, and records used in the performance of such Development activities, upon not less than ten (10) Business Days’ prior written notice; provided, that any
              Licensee auditor is bound by written obligations to maintain the secrecy of Licensor’s confidential information or Third Party confidential information if such audit is conducted at Third Party facilities. Any audit permitted under this
              Section 5.7.4 shall be: (a) conducted during normal business hours; and (b) restricted to such facilities, systems, equipment, to verify that the Development activities are being conducted in accordance with the terms of this Agreement, that
              the facilities are adequate for such Development activities and that Licensor has otherwise complied with its obligations hereunder. Licensor shall, and shall cause its employees, sub-contractors and agents to, cooperate with any reasonable
              requests of Licensee under this Section 5.7.4.

          

     

    
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          	5.7.5	
            Financial Records. Each Party shall, and shall cause its Affiliates and permitted sublicensees to, keep complete and accurate financial books and records to the extent required to calculate and verify all amounts payable under this
              Agreement. Each Party shall, and shall cause its Affiliates and permitted sublicensees to, retain such books and records for a period of three (3) years following the earlier of the termination or expiration of this Agreement.

          

     

    	

          	5.7.6	
            Financial Audit.

          

     

    	

          	(a)	
            Procedures. At the request of a Party, the other Party shall, and shall cause its Affiliates to, permit an independent auditor designated by the requesting Party, during normal business hours and upon at least fifteen (15) days'
              prior notice, to audit the books and records maintained pursuant to Section 5.7.5 to ensure the accuracy of all reports and payments made hereunder. The requesting Party shall ensure that the independent auditor execute a customary
              confidentiality agreement prior to such audit. Such examinations may not: (i) be conducted more than once in any twelve (12)-month period (unless a previous audit during such twelve (12)-month period revealed an underpayment (or with respect
              to any reimbursement, an overpayment) with respect to such period); or (ii) be repeated for any Calendar Quarter. Except as provided below, the cost of this audit shall be borne by the requesting Party, unless the audit reveals a variance of
              more than five percent (5%) from the reported amounts, in which case the other Party shall bear the cost of the audit. Unless disputed pursuant to Section 5.7.6(b), if such audit concludes that (X) additional amounts were owed by a Party,
              such Party shall pay the additional amounts, or (Y) excess payments were made by a Party, the other Party shall reimburse such excess payments, in either case ((X) or (Y)), within sixty (60) days after the date on which such audit is
              completed by the Party.

          

     

    	

          	(b)	
            Financial Audit Dispute. In the event of a dispute with respect to any audit under Section 5.7.6(a), Licensor and Licensee shall work in good faith to resolve the dispute. If the Parties are unable to reach a mutually acceptable
              resolution of any such dispute within thirty (30) days, the dispute shall be submitted for resolution to an independent accounting firm jointly selected by the Parties (the “Auditor”). The decision of
              the Auditor shall be final and the costs of such adjudication as well as the initial audit shall be borne between the Parties in such manner as the Auditor shall determine. Not later than ten (10) days after such decision and in accordance
              with such decision, the Party as directed by the Auditor shall pay the additional amounts, or reimburse the excess payments, as applicable.

          

     

    	

          	5.7.7	
            Taxes. All payments under this Agreement would be made subject to withholding of taxes under applicable Law. Each Party agrees to reasonably assist the other Party in lawfully claiming exemptions from and/or minimizing such
              withholdings under double taxation Laws, treaties, or similar circumstances.

          

     

    	6.	
            COMMERCIALIZATION AND COMMERCIAL MANUFACTURING

          

     

    
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    	6.1	
            Subject to Licensor meeting its obligation for Development pursuant to Section 4 (Development) (i.e., each Product being submitted for FDA Approval) for each of the Products, Licensee shall procure
              that the Viatris Group shall:

          

     

    	

          	6.1.1	
            (a) use [**] to Commercialize such Products in the US after receipt of the relevant Regulatory Approvals for such Products in the relevant Territory, and bear all commercial Manufacturing costs including compliance costs in relation to the
              foregoing; and (b) maintain FDA Approvals and bear all costs in relation to such approvals.

          

     

    	

          	6.1.2	
            use [**] to: (a) Commercialize such Products in the ROW after receipt of the relevant Regulatory Approvals for such Products in the relevant Territory, and bear all commercial Manufacturing costs including compliance costs in relation to
              the foregoing; and (b) maintain Regulatory Approvals and bear all costs in relation to such approvals.

          

     

    	

          	6.1.3	
            Without limiting the generality of the foregoing, Viatris shall [**] to launch the Products [**] after receiving applicable Regulatory Approval of a Product in any region. Thereafter, Viatris shall [**] in the ongoing support for the
              Product in each region in the Territory, unless such region becomes part of the Excluded Territory in accordance with Section [**].

          

     

    	6.2	
            Commercialization. [**] Notwithstanding anything contained in this Agreement, Viatris shall have full control and authority with respect to the day-to-day Commercialization of the Products and
              implementation of Commercialization.

          

     

    	6.3	
            Licensor may Manufacture and Commercialize the Compounds and/or Products or other products in the Excluded Territory (the “Excluded Territory Commercialization”); provided that all such Excluded
              Territory Commercialization activities are conducted in compliance with applicable Law and that such activities do not have a material impact on Licensee’s Manufacturing and Commercialization of the Compound and/or Products in the Territory
              and Licensor shall promptly inform the Licensee upon becoming aware of any breach of applicable Law by the Licensor (or its Affiliates or sub-contractors) in the course of the Excluded Territory Commercialization or upon occurrence of an
              event that is reasonably likely to have a risk of an adverse impact on the Manufacturing and Commercialization of the Compound and/or Products in the Territory. If Licensee determines, in its reasonable sole discretion, that the Excluded
              Territory Commercialization is [**] the Parties shall engage in good faith productive discussion intended to determine an alternative course of commercialization  that would not give rise to such adverse risks, or sufficiently mitigate
              against any such adverse risk, if any. Provided that in the event Parties are unable to reach a consensus on a sufficient method to mitigate the adverse risk within [**] of commencing such discussions, at the direction of the Licensee (acting
              in good faith and reasonably), the Licensor shall cease such Excluded Territory Development.

          

     

    	7.	
            PAYMENT TERMS

          

     

    In consideration for the rights and licenses granted to Licensee under this Agreement, Licensee shall pay to Licensor, as and when they become due, such payments provided for in Schedule 3.

     

    	8.	
            INTELLECTUAL PROPERTY

          

     

    
      20

      
        

    

    	8.1	
            Background Intellectual Property.

          

     

    Other than as specifically provided under this Agreement, each Party shall retain all right, title, and interest in and to any Intellectual Property that is owned, licensed or sub-licensed by such
      Party prior to or independent of this Agreement.

     

    	8.2	
            Licensee Intellectual Property.

          

     

    	

          	8.2.1	
            Licensee shall be the sole owner of any Intellectual Property, including Patents and Know-How, Development Data, discovered, developed, invented, conceived, or reduced to practice, solely, by or on behalf of Licensee in connection with
              this Agreement, including in respect of any improvements to the Licensed Intellectual Property arising from such activities, including the Development undertaken by  Licensor in the Territory (“Licensee Improvements”). Licensor shall not at any time, claim ownership or attempt to acquire any rights in relation to any Licensee Improvements. All right, title and interest to such Licensee Improvements shall
              be, and hereby is, assigned to Licensee. Licensee hereby grants (and agrees to grant) to Licensor a non-exclusive, sublicensable license to the Licensee Improvements for the purpose of Licensor conducting Development of the Products and the
              Compound in the Territory in accordance with this Agreement and to Develop, Manufacture, have Manufactured, import, export and Commercialize the Compound and Product in the Excluded Territory.

          

     

    	

          	8.2.2	
            As of the Effective Date, Licensee shall be solely entitled and responsible for the preparation, filing, prosecution and maintenance of all Licensee Improvements, and Licensor shall provide Licensee with all assistance as may be reasonably
              requested in relation to the same. Till such time as the Licensor is carrying out Development under this Agreement, Licensor shall propose outside patent counsel to conduct the preparation, filing, prosecution and maintenance of each of the
              Licensor Improvements, subject to Licensee’s consent, not to be unreasonably withheld. All costs and expenses incurred by it relating to such filing, prosecution, and maintenance in the United States, including outside patent counsel fees and
              internal costs incurred in connection therewith shall be treated as a part of the Development Cost. Licensee shall keep Licensor informed of all material developments and communications with the applicable patent authorities in the Territory
              in relation to Patents to Licensee Improvements.

          

     

    	

          	8.2.3	
            As reasonably requested by Licensee in writing, Licensor will cooperate, in assisting and facilitating Licensee’s efforts to prosecute, revive and maintain the Patents to Licensee Improvements pursuant to Section 8.2.2.

          

     

    	8.3	
            Licensor Intellectual Property.

          

     

    	

          	8.3.1	
            Licensor shall be the sole owner of any Intellectual Property, including Patents and Know-How, discovered, developed, invented, conceived, or reduced to practice solely by or on behalf of the Licensor (other than the activities undertaken
              pursuant to this Agreement) in connection with its activities in and which arise or get created after the Effective Date (“Licensor Improvements”). Any Licensor Improvement will automatically be treated
              as “Licensed Intellectual Property” hereunder for all purposes.

          

     

    
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          	8.3.2	
            Licensor shall have the first right, but not the obligation, for the filing, prosecution and maintenance of all Licensor Improvements. Licensor shall be responsible for all costs and expenses incurred by it relating to such filing,
              prosecution, and maintenance, including outside patent counsel fees and internal costs incurred in connection therewith. At Licensee’s written request, Licensor shall keep Licensee informed of all material
                developments and communications with the applicable patent authorities in the Excluded Territory in relation to Patents to Licensor Improvements. Licensor will give reasonable notice to Licensee, but in any event at least ninety (90) days
                advance written notice, before deciding to abandon the prosecution, maintenance or defence of any Licensor Improvement in the Excluded Territory, and Licensee shall, upon receipt of such notice, be entitled to assume and thereafter direct
                such prosecution and maintenance at Licensee’s sole cost and expense. Upon provision of written notice by Licensee to Licensor of its desire to assume control of such activities, the Licensor shall, and shall cause any patent counsel
                engaged by Licensor to, promptly transfer all relevant documents and records, and provide all such other reasonably necessary support to Licensee in order to promptly and fully transfer such activities to Licensee.

          

     

    	8.4	
            Prosecution of Licensed Patents.

          

     

    	

          	8.4.1	
            As long as the Licensor continues to undertake Development for and on behalf of the Licensee under this Agreement, the Licensor shall have the first right, but not the obligation, for the filing, prosecution and maintenance of all Licensed
              Patents. All costs and expenses incurred by it relating to such filing, prosecution, and maintenance, including outside patent counsel fees and internal costs incurred in connection therewith shall be treated as a part of the Development
              Cost. At Licensee’s written request, Licensor shall keep Licensee informed of all material steps to be taken in the preparation and prosecution of all Licensed Patents in the Territory and shall furnish and provide Licensee with copies of
              correspondence to and from patent offices, and, to the extent reasonably practicable, permit Licensee an opportunity to offer its comments thereon before making a submission to a patent office and Licensor shall consider in good faith
              Licensee’s comments. Licensor will give reasonable notice to Licensee, but in any event at least ninety (90) days advance written notice, before deciding to abandon the prosecution, maintenance or defence of any Licensed Patent in the
              Territory, and Licensee shall, upon receipt of such notice, be entitled to assume and thereafter direct such prosecution and maintenance, cost of which shall be borne as part of the Development Cost. Upon provision of written notice by
              Licensee to Licensor of its desire to assume control of such activities, the Licensor shall, and shall cause any patent counsel engaged by Licensor to, promptly transfer all relevant documents and records, and provide all such other
              reasonably necessary support to Licensee in order to promptly and fully transfer such activities to Licensee. Licensee has the right but not the obligation to engage any patent counsel engaged by the Licensor for assuming any of the filing,
              prosecution or maintenance going forward.

          

     

    	

          	8.4.2	
            Once Development has ceased by the Licensor under this Agreement, Licensee shall be solely entitled and responsible for the preparation, filing, prosecution and maintenance of all Licensed Patents and Licensor shall provide Licensee with
              all assistance as may be reasonably requested in relation to the same.

          

     

    
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    	8.5	
            Third Party Infringement.

          

     

    	

          	8.5.1	
            During the Term, each Party shall promptly notify the other Party of (a) any known or suspected infringement, or (b) unauthorized use of, or any challenge to the validity, scope or enforceability of any Licensed Intellectual Property in
              the Territory, or (c) any other Legal Proceedings threatened or initiated against Licensor and/or its Affiliates that may adversely impact or diminish the rights granted to Licensee under this Agreement, or (d) any declaratory judgment action
              against any Licensed Patent(s) right in the Territory, in connection with any infringement, (each, an “Infringement”) of which such Party becomes aware, promptly in writing, and provide information and
              documents relating to, any Infringement and, upon request, shall provide the other Party with all evidence within its possession or control supporting such known or suspected infringement or unauthorized use. Licensee shall have the first
              right, but not the obligation, at its sole cost and expense, to enforce such Licensed Intellectual Property against any Third Party in the Territory. Licensor shall have the first right, but not the obligation, at its sole cost and expense,
              to enforce Licensed Intellectual Property against any Third Party in the Excluded Territory.

          

     

    	

          	8.5.2	
            In the event that either Party does not initiate an enforcement action within ninety (90) calendar days of the Infringement or notifies the other Party in writing that it does not intend to take such action, the other Party shall be
              entitled to bring such enforcement action at its own cost and expense. If a Party is authorized to bring an enforcement action under this Section 8 (Intellectual Property), but the Party is not
              recognized by the applicable court or authority as having the requisite standing to pursue such action, then the other Party shall, at the enforcing Party’s request and expense, join as a party-plaintiff. Any damages, awards, settlement
              payments or other recoveries resulting from an enforcement action brought by a Party pursuant to this Section 8 (Intellectual Property) shall be to the account of the Party bringing such action.

          

     

    	

          	8.5.3	
            Licensor shall not enter into any settlement agreement regarding any Infringement of any Licensed Intellectual Property without the Licensee’s prior written consent which shall not be unreasonably withheld.

          

     

    	8.6	
            Trademarks.

          

     

    Licensee shall have the right to brand Products in the Field using Licensee related trademarks and any other marks and trade names it determines appropriate for such Products, which may vary by
      country or within a country (“Product Marks”). Licensee shall own all rights in the Product Marks (other than the Licensed Marks) and register and maintain the Product
      Marks in the countries and regions it determines reasonably necessary.

     

    	9.	
            REPRESENTATIONS AND WARRANTIES

          

     

    	9.1	
            Each Party represents and warrants that:

          

     

    	

          	9.1.1	
            it is a legal entity duly organized, validly existing, and in good standing under the Laws of its jurisdiction of incorporation or organization;

          

     

    
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          	9.1.2	
            it has full power and authority to execute, deliver and perform the Agreement, and has taken all corporate action required by Law and its organizational documents to authorize the execution and delivery of this Agreement and the
              consummation of the transaction contemplated by this Agreement;

          

     

    	

          	9.1.3	
            the execution and delivery of this Agreement does not and shall not: (a) conflict with or result in a breach of any provision of its organization documents; (b) result in a breach of any agreement to which it is a party that would impair
              the performance of its obligations hereunder; or (c) violate any applicable Law; and

          

     

    	

          	9.1.4	
            this Agreement constitutes legal, valid, and binding obligations, enforceable against it in accordance with its terms.

          

     

    	9.2	
            In addition to the representation and warranties under Section 9.1, Licensor also represents and warrants to Licensee that as on the Effective Date:

          

     

    	

          	9.2.1	
            all rights in the Intellectual Property set out in Schedule 1 (or which relate to the items set out in Schedule 1) are either exclusively owned or otherwise exclusively vest with the Licensor, and the Licensor requires no
              consent of any Person for the use, exploitation, assignment, or licensing / sub-licensing of such Intellectual Property;

          

     

    	

          	9.2.2	
            the Licensed Intellectual Property includes all intellectual property owned, created or Controlled by or on behalf of Licensor which relates to the Products and/or the Compound, and the Licensor is the sole owner of such Licensed
              Intellectual Property, with good and marketable title, free and clear of all liens and Encumbrances, and has the complete right and authority to grant licenses in relation thereto to Licensee to the fullest extent as contemplated under this
              Agreement and no licenses, options or rights in relation thereto have been granted by Licensor (or otherwise) in favour of, or lie with, any Third Party (and no costs are due to any such Third Party, including for clarity, any liability
              whatsoever to make any payments by way of royalties, license or other fees to any owner or licensee of, or other claimant to, any Products or Licensed Intellectual Property);

          

     

    	

          	9.2.3	
            other than the Patents listed in Schedule 1, there are no Patent rights associated with the Licensed Intellectual Property and no other applications have been filed or registrations or statutory protection obtained in respect of any of the
              Licensed Intellectual Property. None of the Licensed Patents have ever been found to be invalid, unpatentable, or unenforceable for any reason in any judicial, administrative and/or quasi-judicial proceeding. To the extent required by
              applicable Law, all inventors of the Licensed Patents have been named as inventors on the patent applications comprised in the Licensed Patents. All inventors of the Licensed Patents have executed written assignment agreements duly assigning
              all their rights in the Licensed Patents and inventions covered thereunder, in favour of Licensor and have received all remuneration due to them under any applicable agreement and/or applicable Law. All actions required to maintain each of
              the Licensed Patents have been timely taken and the maintenance fees and annuities, due or payable on each of the Licensed Patents have been timely paid. No act has been done or, omitted to be done and no event has occurred or, to the
              knowledge of Licensor, is likely to occur which may render any of the Licensed Patents subject to revocation, compulsory license, cancellation, or amendment or may prevent the grant or registration of a patent pursuant to a pending patent
              application comprised in the Licensed Patents. Licensor has not acquiesced to the unauthorised use of the Licensed Intellectual Property by any Third Party;

          

     

    
      24

      
        

    

    	

          	9.2.4	
            (a) there are no Legal Proceedings pending or, to the knowledge of Licensor, threatened relating in any way to the Licensed Intellectual Property (or any part thereof), in relation to the Development of any Product, or with respect to the
              Products, Compound or Regulatory Approvals; and (b) Licensor has not received: (i) notice of (and is not aware of any facts or circumstances which could reasonably be expected to give rise to) any other Legal Proceedings in relation thereto;
              or (ii) any written communication (and is not aware of any facts or circumstances which could reasonably be expected to give rise to) alleging that Licensor’s activities with respect to any of the Products, the Compound and/or use of Licensed
              Intellectual Property have infringed or misappropriated any of the Intellectual Property rights of any Third Party;

          

     

    	

          	9.2.5	
            Licensor has taken all reasonable steps in accordance with normal industry practice to maintain the confidentiality of all confidential information including within the Licensed Intellectual Property, the Know-How and Product-Related
              Document and Data, and has not disclosed such confidential information to any Third Party;

          

     

    	

          	9.2.6	
            (a) the Development of the Products by Licensor has been in accordance with applicable Law. Licensor has not received any written communication from any Governmental Authority alleging any violation of any applicable Law in the Development
              of the Products by Licensor; (b) neither Licensor nor any of its Affiliates is the subject of any pending or, to the knowledge of Licensor, threatened investigation by any Governmental Authority with respect to any of the Products, the
              Compound or the Regulatory Approvals obtained by Licensor; and (c) Licensor has sufficient in-house experience and expertise (including appropriate personnel) to complete the Development of the Products in accordance with the timelines and
              budgets set out in the Development Plan;

          

     

    	

          	9.2.7	
            all information provided to Licensee in relation to the Products and Licensed Intellectual Property is true, correct, complete and accurate;

          

     

    	

          	9.2.8	
            Licensor has duly undertaken: (a) Phase I Clinical Trial and Phase II Clinical Trial of each Product, and (b) Phase III Clinical Trial for Product 1A and Product 1B, in each case, in a manner sufficient to be included in an NDA for
              Regulatory Approval, consistent with the requirements of U.S. 21 C.F.R. §312.21(a) and U.S. 21 C.F.R. §312.21(b) respectively;

          

     

    	

          	9.2.1	
            Product 1A is ready for NDA submission, Product 1B is ready for the second pivotal Phase III Clinical Trial (if required), and Products 1C and 2 are ready for Phase III Clinical Trial in a manner sufficient to be submitted in an NDA for
              Regulatory Approval, each in accordance with FDA guidance; and

          

     

    	

          	9.2.2	
            No Third Party has been licensed, authorised, or permitted by the Licensor to use a name incorporating all or part of the Licensed Marks or trademarks constituting Licensed Intellectual Property.

          

     

    	9.3	
            The Licensor covenants that:

          

     

    
      25

      
        

    

    	

          	9.3.1	
            it shall not, and shall ensure that its Affiliates do not, during the Term, undertake or agree to undertake the following actions:

          

     

    	

          	(a)	
            use any of the Licensed Intellectual Property other than as expressly provided in this Agreement or carry out Development of the Product other than as provided in this Agreement;

          

     

    	

          	(b)	
            not to do any act or thing that would adversely affect Licensee’s full enjoyment and exploitation of the rights granted under this Agreement including by availing of any financial indebtedness; and

          

     

    	

          	(c)	
            settle any Legal Proceeding by or against Licensor in connection with any of the Licensed Intellectual Property in the Territory;

          

     

    	

          	9.3.2	
            each of Licensor and its Affiliates, and their respective employees and contractors, in connection with the performance of their respective obligations under this Agreement, shall not violate or cause the violation of the FCPA, Export
              Control Laws, or any other analogous Laws;

          

     

    	

          	9.3.3	
            if any employees or contractors of the Licensee are debarred, suspended, excluded or otherwise disqualified under the Federal Food, Drug and Cosmetic Act, as amended, or excluded from a federal health care program, including Medicare and
              Medicaid, it will promptly notify the other Parties after learning that any such employees or contractors are and terminate such employee or contractor; and

          

     

    	

          	9.3.4	
            shall immediately notify Licensee of any breach, or any reasonably foreseeable breach, of any of Licensor’s representations, warranties, covenants, or obligations under this Agreement.

          

     

    	9.4	
            Licensee covenants as follows:

          

     

    	

          	9.4.1	
            Each of Licensee and its Affiliates, and their respective employees and contractors, in connection with the performance of their respective obligations under this Agreement, shall not violate or cause the violation of the FCPA, Export
              Control Laws, or any other analogous Laws.

          

     

    	

          	9.4.2	
            [**]

          

     

    	

          	9.4.3	
            [**]

          

     

    	

          	9.4.4	
            [**]

          

     

    	

          	9.4.5	
            If any employees or contractors of the Licensee are debarred, suspended, excluded or otherwise disqualified under the Federal Food, Drug and Cosmetic Act, as amended, or excluded from a federal health care program, including Medicare and
              Medicaid, it will promptly notify the other Parties after learning that any such employees or contractors are and terminate such employee or contractor.

          

     

    
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    	9.5	
            Disclaimer.  Except as expressly set forth in this Agreement (including the representations and warranties set out in Section 9 (Representations and Warranties)),

              THE INTELLECTUAL PROPERTY RIGHTS PROVIDED BY EACH PARTY HEREUNDER ARE PROVIDED “AS IS” AND EACH PARTY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING THE WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR
              A PARTICULAR PURPOSE, OR ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICES, IN ALL CASES WITH RESPECT THERETO.  Without limiting the foregoing: (a) neither Party represents or warrants that any data obtained from conducting Clinical
              Trials in one country or region will comply with the laws and regulations of any other country or region, and (b) neither Party represents or warrants the success of any study or test conducted pursuant to this Agreement.

          

     

    	10.	
            INDEMNIFICATION

          

     

    	10.1	
            Indemnification by Licensor.

          

     

    	

          	10.1.1	
            Subject to the terms of Section 10.3, Licensor hereby agrees to defend, hold harmless and indemnify, to the extent permitted by applicable Law, Licensee and its Affiliates and their respective directors, owners, officers, employees, and
              agents (the “Licensee Indemnitees”) from and against any and all Indemnity Claims against any Licensee Indemnitee to the extent arising or resulting from: (a) any breach of Licensor’s obligations,
              representations, warranties or covenants under this Agreement or negligence, recklessness or wrongful intentional acts or omissions from Licensor Indemnitees; or (b) the Licensor undergoing an
              Insolvency Event; provided, however, except in each case to the extent such Indemnity Claims are directly attributable to any matter for which Licensee is obligated to indemnify a Licensor Indemnitee pursuant to Section 10.2.

          

     

    	10.2	
            Indemnification by Licensee.

          

     

    	

          	10.2.1	
            Subject to the terms of Section 10.3, Licensee hereby agrees to hold harmless and indemnify, to the extent permitted by applicable Law, Licensor and their Affiliates and their respective agents, directors, officers and employees (the “Licensor Indemnitees”) from and against any and all Indemnity Claims against any Licensor Indemnitee to the extent arising or resulting from: (a) any breach of Licensee’s obligations, representations,
              warranties or covenants under this Agreement or negligence, recklessness or wrongful intentional acts or omissions from Licensee Indemnitees, or (b) the Licensee undergoing an Insolvency Event; provided, however, except in each case to the
              extent such Indemnity Claims are directly attributable to any matter for which Licensor is obligated to indemnify a Licensee Indemnitee pursuant to Section 10.1.

          

     

    	10.3	
            Limitations of Liability.

          

     

    	

          	10.3.1	
            No Double Recovery. Licensor Indemnitees and/or Licensee Indemnitees shall not be entitled to recover more than once in respect of the same loss.

          

     

    	

          	10.3.2	
            Contingent Liability. If any claim arises out of, or in connection with, or relating to this Agreement (or breach thereof) by reason or in respect of a liability that is future, contingent and/or unquantifiable, the Parties shall
              not be liable for such claim until such time as that liability becomes an actual liability or is capable of being quantified.

          

     

    
      27

      
        

    

    	

          	10.3.3	
            EXCLUDED LOSSES. IN NO EVENT SHALL ANY PARTY (INCLUDING ANY LICENSOR INDEMNITEES AND/OR LICENSEE INDEMNITEES) BE LIABLE TO THE OTHER PARTY (INCLUDING ANY LICENSOR INDEMNITEES AND/OR LICENSEE INDEMNITEES) FOR ANY PUNITIVE,
              INCIDENTAL, CONSEQUENTIAL, SPECIAL OR INDIRECT LOSS OR DAMAGES, INCLUDING LOSS OF FUTURE REVENUE, OR INCOME, LOSS OF GOODWILL, LOSS OF PROFIT, LOSS OF BUSINESS (WHETHER ACTUAL OR PROSPECTIVE), LOSS OF REPUTATION OR OPPORTUNITY, OR DIMINUTION
              OF VALUE OR ANY DAMAGES BASED ON ANY TYPE OF MULTIPLE, WHETHER BASED ON A CONTRACT, TORT, OR ANY OTHER LEGAL THEORY, ARISING OUT OF, RELATING TO, AND/OR IN CONNECTION WITH THIS AGREEMENT (OR BREACH THEREOF), WHETHER SUCH DAMAGES WERE
              FORESEEABLE, OR OTHERWISE (WHETHER ACTUAL OR PROSPECTIVE OR WHETHER DIRECT OR INDIRECT), EXCEPT TO THE EXTENT ANY SUCH DAMAGES ARE: (A) REQUIRED TO BE PAID TO A THIRD PARTY AS PART OF AN INDEMNITY CLAIM FOR WHICH A PARTY PROVIDES
              INDEMNIFICATION UNDER THIS SECTION 10 (INDEMNIFICATION), OR (B) ARISING FROM THE FRAUDULENT ACTIONS OR OMISSIONS OF THE INDEMNIFYING PARTY (AS DEFINED BELOW)
              OR ITS GROSS NEGLIGENCE OR WILFUL MISCONDUCT.

          

     

    	

          	10.3.4	
            No Projections. Licensor and Licensee acknowledge and agree that nothing in this Agreement shall be construed as representing an estimate or projection of the commercial success of any Compound or Product, and that the payments set
              forth in this Agreement or that have otherwise been discussed by the Parties are merely intended to define the payments in the event such payments are achieved. NEITHER LICENSOR NOR LICENSEE MAKES ANY REPRESENTATION OR WARRANTY, EITHER
              EXPRESS OR IMPLIED, THAT ANY PARTICULAR SALES LEVEL OF ANY PRODUCT WILL BE ACHIEVED.

          

     

    	

          	10.3.5	
            Nothing contained in this Agreement (including without limitation Section 10.1, Section 10.2, Section 13.3, Section 14 (Governing Law and Jurisdiction), Section 23 (Injunctive

                Relief) and Section 24 (Cumulative Remedies) shall be construed as to supersede or amend the limitations of liability set out in this Section 10.3.

          

     

    	10.4	
            Indemnification Process.

          

     

    	

          	10.4.1	
            Indemnification Procedure. In connection with any Indemnity Claim for which a Party (the “Indemnified Party”) seeks indemnification from the other Party (the “Indemnifying

                Party”) pursuant to this Agreement, the Indemnified Party shall: (a) give the Indemnifying Party prompt written notice of the Indemnity Claim; provided, however, that failure to provide such notice shall not relieve the Indemnifying
              Party from its liability or obligation hereunder, except to the extent of any material prejudice as a direct result of such failure; (b) cooperate with the Indemnifying Party, at the Indemnifying Party’s expense, in connection with the
              defense and settlement of the Indemnity Claim; and (c) permit the Indemnifying Party to control the defense and settlement of the Indemnity Claim only if the Indemnifying Party confirms in writing that it is liable to indemnify Licensor
              Indemnitees or Licensee Indemnitees, as applicable, in connection with the relevant matter and provides reasonable substantiation that the Indemnifying Party has the financial resources to pay for the defense and settlement of the Indemnity
              Claim (including any settlement thereof or judgment thereon); provided, however, that the Indemnifying Party may not settle the Indemnity Claim without the Indemnified Party’s prior written consent, which shall not be unreasonably withheld or
              delayed, in the event such settlement materially adversely impacts the Indemnified Party’s rights or obligations. Further, the Indemnified Party shall have the right to participate (but not control) and be represented in any suit or action by
              advisory counsel of its selection and at its own expense.

          

     

    
      28

      
        

    

    	11.	
            TERM AND TERMINATION

          

     

    	11.1	
            Term.

          

     

    The term of this Agreement (the “Term”) shall commence as of the Effective Date and the Agreement shall continue to remain in force until terminated in
      accordance with the terms of this Agreement.

     

    	11.2	
            Termination by Licensor.

          

     

    	

          	11.2.1	
            Upon written notice to the Licensee, Licensor may immediately terminate this Agreement:

          

     

    	

          	(a)	
            if the Licensee materially breaches its obligations under this Agreement (except for its obligations under Section 5.1, Section 6.1 or Section 6.2) and fails to cure such breach within a period of [**] from the date the Licensor provides
              written notice to the Licensee of such material breach;

          

     

    	

          	(b)	
            an Insolvency Event of the Licensee;

          

     

    	

          	(c)	
            except to the extent that this Section 11.2.1(c) is unenforceable under the Law of the applicable jurisdiction where the applicable Patent is pending or issued, if Viatris, Licensee or either of their respective Affiliates directly asserts
              in its own respective name, or directs a Third Party to assert, an action challenging the validity, scope, or enforceability of any Patent within the scope of the Licensed Patents that are then exclusively licensed to Licensee under this
              Agreement (each, a “Patent Challenge”) and the Licensee or its Affiliates fails to withdraw, or cause to be withdrawn, such Patent Challenge within [**] following the date the Licensor issues written
              notice to the Licensee of such Patent Challenge. Further, this Section 11.2.1(c) shall not apply to any Affiliates of Licensee that first become Affiliates of Licensee after the Effective Date in connection with a merger or acquisition event,
              where such Affiliates of Licensee were already engaged in a Patent Challenge prior to such merger or acquisition event, so long as Licensee causes such Patent Challenge to terminate within sixty (60) days after such merger or acquisition
              event.

          

     

    	

          	11.2.2	
            Upon written notice to the Licensee, Licensor may immediately terminate the License granted over a particular Product in the Territory if the Licensee materially breaches its obligations under Section 6.1.1 in respect of such Product(s) in
              the US and fails to cure such breach within a period of [**] from the date the Licensor notifies the Licensee of such material breach.

          

     

    	

          	11.2.3	
            Upon written notice to the Licensee, Licensor may immediately terminate the License granted over a particular Product in a particular country in the Territory if the Licensee materially breaches its obligations under Section 5.1, Section
              6.1.2 or Section 6.1.3 or Section 6.2 in respect of such Product(s) in such country in the Territory and fails to cure such breach within a period of [**] from the date the Licensor notifies the Licensee of such material breach.

          

     

    
      29

      
        

    

    	11.3	
            Termination by Licensee.

          

     

    	

          	11.3.1	
            Upon written notice to the Licensor, Licensee may immediately terminate this Agreement:

          

     

    	

          	(a)	
            If the Licensor materially breaches its obligations under this Agreement and fails to cure such breach within a period of [**] from the date the Licensee provides written notice to the Licensor of such material breach; or

          

     

    	

          	(b)	
            an Insolvency Event of the Licensor.

          

     

    	

          	11.3.2	
            Licensee has the right from time to time throughout the Term, in its sole discretion, to terminate this Agreement in its entirety, or as to one (1) or more of the Products, each with respect to any one (1) or more countries in the
              Territory, (such terminated Products in terminated countries applicable to each, “Licensee Terminated Product(s) in Terminated Country(ies)”), without cause for any reason at any time after the
              Effective Date on [**] prior written notice, and for clarity, any such Licensee Terminated Product(s) in Terminated Country(ies) shall be: (a) included as of the date of the relevant termination in the Excluded Territory but solely with
              respect to the applicable terminated Product; and (b) shall be excluded as of the date of the relevant termination from the definition of Products but solely with respect to the applicable terminated country. For example, a particular Product
              could be terminated with respect to two (2) countries, and another Product could be terminated with respect to another set of countries.

          

     

    	11.4	
            Consequences of Termination.

          

     

    	

          	11.4.1	
            In the event of termination of this Agreement by Licensor pursuant to Section 11.2.1, all the Licenses and rights granted to Licensee under this Agreement will cease and revert to Licensor as of the date of such termination and Licensee
              shall cease all use thereof of the Licensed Intellectual Property, and the Licensee shall grant to Licensor a perpetual, worldwide, fully-paid up, royalty-free, non-sublicensable, right and license under the Licensee Improvements for the sole
              purpose of Licensor’s Development, Manufacture or Commercialization of Products in the Field.

          

     

    	

          	11.4.2	
            In the event of termination by Licensor pursuant to Section 11.2.2: (a) the licenses granted to Licensee under Section 2.1 and any sublicenses granted under this Agreement shall automatically terminate with respect to such Product(s) in
              the Territory, but shall remain in full force and effect for all remaining Products in the Territory; and (b) Licensee shall grant to Licensor a perpetual, fully-paid up, royalty-free, non-sublicensable, right and license under the Licensee
              Improvements for the sole purpose of Licensor’s Development, Manufacture or Commercialization of such terminated Product(s) in the Field in the Territory.

          

     

    	

          	11.4.3	
            In the event of termination by Licensor pursuant to Section 11.2.3: (a) the licenses granted to Licensee under Section 2.1 and any sublicenses granted under this Agreement shall automatically terminate with respect to such Product(s) in
              such country(ies) to which such material breach pertains to, but shall remain in full force and effect for all remaining Products in all countries and for such Product in all remaining countries; and (b) Licensee shall grant to Licensor a
              perpetual, fully-paid up, royalty-free, non-sublicensable, right and license under the Licensee Improvements for the sole purpose of Licensor’s Development, Manufacture or Commercialization of such terminated Product(s) in the Field in such
              country(ies).

          

     

    
      30

      
        

    

    	

          	11.4.4	
            In the event of termination of this Agreement by Licensee pursuant to Section 11.3.1: (a) the licenses granted to Licensee under Section 2.1 shall survive in perpetuity and all Licensee’s obligations (including any obligation to make
              payments) that have not yet accrued shall fall away; and (b) Licensor shall promptly return to Licensee, or, at Licensee’s request, destroy, all material, and documents related to the Compound or the Product, provided that, Licensor shall
              retain a copy of such Information if required by applicable Law; and the license granted to Licensor under Licensee Improvements in Section 8.2.1 and Section 11 will cease.

          

     

    11.4.5

     

    	

          	(a)	
            In the event of termination of this Agreement in its entirety by Licensee pursuant to Section 11.3.2, all the Licenses and rights granted to Licensee under this Agreement will cease and revert to Licensor as of the date of such termination
              and Licensee shall cease all use thereof of the Licensed Intellectual Property, and the Licensee shall grant to Licensor a perpetual, worldwide, fully-paid up, royalty-free, non-sublicensable, right and license under the Licensee Improvements
              for the sole purpose of Licensor’s Development, Manufacture or Commercialization of Products in the Field.

          

     

    	

          	(b)	
            In the event of termination by Licensee with respect to Licensee Terminated Product(s) in Terminated Country(ies)  pursuant to Section 11.3.2, (a) the licenses granted to Licensee under Section 2.1 and any sublicenses granted under this
              Agreement shall automatically terminate with respect to the Licensee Terminated Product(s) in Terminated Country(ies) (and the applicable terminated country(ies) shall automatically form a part of the Excluded Territory but solely with
              respect to the applicable terminated Product(s)), but shall remain in full force and effect for all Products and countries in the Territory that are not Licensee Terminated Product(s) in Terminated Country(ies); and (b) Licensee shall grant
              to Licensor a perpetual, fully-paid up, royalty-free, non-sublicensable, right and license under the Licensee Improvements for the sole purpose of Licensor’s Development, Manufacture or Commercialization of the Licensee Terminated Product(s)
              in Terminated Country(ies) in the Field.

          

     

    	12.	
            CONFIDENTIALITY

          

     

    	12.1	
            Duty of Confidence.

          

     

    	

          	12.1.1	
            Subject to the other provisions of this Section 12 (Confidentiality), each Party shall maintain all Information of the other Party in confidence. It is clarified that on and from the Effective Date,
              the Licensed Intellectual Property shall be deemed to be Licensee’s Information and obligations of confidentiality relating to the Licensed Intellectual Property, including regarding the Licensed Patents, Product-Related Document and Data and
              Know-How shall lie on Licensor.

          

     

    
      31

      
        

    

    	

          	12.1.2	
            Each Party may use the other Party’s and other Party’s Affiliates’ Information solely for the purposes of this Agreement and pursuant to the rights and obligations of such Party under this Agreement. Subject to the other provisions of this
              Section 12 (Confidentiality), each Party shall hold as confidential such Information of the other Party or such Party’s Affiliates in the same manner and with the same protection as such recipient
              Party maintains its own confidential information, but in no event less than a reasonable degree of care.

          

     

    	

          	12.1.3	
            Each Party shall not disclose Information of the other Party to any Third Party, other than to its shareholders, Affiliates and in each case each of their respective employees, agents, contractors, consultants, representatives, and
              advisers (including attorneys, accountants, consultants, bankers, financial advisors and members of advisory boards) who are bound by customary obligations of confidentiality, and for the Licensee, sub-licensee of the Licensee (appointed in
              accordance with Section 2.3) of such Party without the prior consent of the other Party.

          

     

    	12.2	
            Exceptions and Authorized Disclosures.

          

     

    	

          	12.2.1	
            Exceptions. The obligations under this Section 12 (Confidentiality) shall not apply to any Information to the extent the recipient Party can demonstrate by competent evidence that such
              Information:

          

     

    	

          	(a)	
            is (at the time of disclosure) or becomes (after the time of disclosure) known to the public or part of the public domain through no breach of this Agreement by the recipient Party or its Affiliates;

          

     

    	

          	(b)	
            was known to, or was otherwise in the possession of, the recipient Party or its Affiliates prior to the time of disclosure by the disclosing Party or any of its Affiliates;

          

     

    	

          	(c)	
            is disclosed to the recipient Party or an Affiliate on a non-confidential basis by a Third Party who is entitled to disclose it without breaching any confidentiality obligation to the disclosing Party or any of its Affiliates;

          

     

    	

          	(d)	
            is independently developed by or on behalf of the recipient Party or its Affiliates, as evidenced by its written records, without reference to the Information disclosed by the disclosing Party or its Affiliates under this Agreement; or

          

     

    	

          	(e)	
            by Licensee to publish or have published information about Clinical Trials related to Products in the Field, including the results of such Clinical Trials, or to existing or potential sub-licensees.

          

     

    	

          	12.2.2	
            Authorized Disclosures. In addition to the disclosure allowed in Section 12.2.1, either Party may disclose Information belonging to the other Party to the extent such disclosure is:

          

     

    	

          	(a)	
            necessary to prosecute or defend litigation as permitted by this Agreement;

          

     

    	

          	(b)	
            necessary to comply with Law, including governmental regulations or any securities regulatory organization’s disclosure requirements;

          

     

    	

          	(c)	
            necessary for the purposes of any filings with any Regulatory Authority (including a Regulatory Submissions);

          

     

    
      32

      
        

    

    	

          	(d)	
            required to be disclosed pursuant to an order of court or a Governmental Authority, provided that the recipient Party: (a) informs the disclosing Party as soon as reasonably practicable of the
              required disclosure; (b) limits the disclosure to the required purpose; and (c) at the disclosing Party’s request and expense, assists in an attempt to object to or limit the required disclosure;

          

     

    	

          	(e)	
            to existing or potential acquirers or merger candidates, investment bankers, existing or potential investors, venture capital firms or other financial institutions or investors or commercial partners for purposes of obtaining financing,
              each of whom prior to disclosure must be bound by customary confidentiality obligations; or

          

     

    	

          	(f)	
            in the case of the Licensee, to a member of the Viatris Group, provided that prior to such disclosure, such member of the Viatris Group is bound by customary confidentiality obligations.

          

     

    	12.3	
            Press Releases and Publications.

          

     

    Neither Party shall issue any press release, trade announcement or make any other public announcement or statement with regard to the transactions contemplated by this Agreement without the other
      Party’s prior written consent (such approval not to be unreasonably withheld, conditioned or delayed), except that a Party may once a press release, public statement or other public statement has been made as permitted under the terms of this
      Agreement ("Authorised Press Release”), make subsequent public disclosure of the information contained in such Authorised Press Release so long as such information remains true, correct and current. Where
      consent is forthcoming, the Parties agree to consult with each other regarding the content of any such press release or other announcement. The aforementioned restriction shall not apply to announcements: (a) required by any Regulatory Authority,
      security exchanges or Governmental Authority under applicable Law, provided, that in such event the Parties shall coordinate the wording, and the Licensee shall take into consideration any requests of the Licensor; and (b) that are known to the
      public or part of the public domain as of the Effective Date. Each Party hereto acknowledges that Licensor and Licensee shall have the right to disclose a brief summary of the transaction, including the amounts payable by Licensee under this
      Agreement, in its official financial reports. Notwithstanding anything to the contrary in this Agreement, any Person who is part of or authorised by the Viatris Group shall be free to make any such announcements contemplated under this Section 12.3
      without any restrictions or requirement to seek consent from either Party.

     

    	13.	
            SURVIVING PROVISIONS

          

     

    	13.1	
            Except as otherwise specifically provided herein, expiration or termination of this Agreement shall not relieve the Parties of any liability or obligation that accrued prior to the expiration or such termination, nor preclude either Party
              from pursuing all rights and remedies it may have under this Agreement or at Law or in equity with respect to any breach of this Agreement nor prejudice either Party’s right to obtain performance of any obligation. In addition, termination of
              this Agreement shall not terminate provisions that provide by their respective terms for obligations or undertakings following the expiration of the Term.

          

     

    
      33

      
        

    

    	13.2	
            The rights and obligations of the Parties set forth in Section 8 (Intellectual Property), Section 9 (Representations and Warranties), Section 10 (Indemnification), Section 11 (Term & Termination), Section 12 (Confidentiality), this Section 13 (Surviving Provisions), and Section 14 (Governing Law and Jurisdiction) shall survive the termination of this Agreement.

          

     

    	13.3	
            Termination of this Agreement shall be in addition to, and shall not prejudice, either Party’s remedies at Law or in equity, including either Party’s ability to receive damages and/or equitable relief with respect to any breach of this
              Agreement, regardless of whether or not any such breach was the reason for the termination.

          

     

    	14.	
            GOVERNING LAW AND JURISDICTION

          

     

    	14.1	
            GOVERNING LAW

          

     

    This Agreement and all matters relating to this Agreement (including any dispute, claim, controversy, and cause of action arising out of or relating to this Agreement), whether in contract, statute,
      tort (including, without limitation, negligence) or otherwise, shall be governed by, and construed and enforced in accordance with, the Laws of the State of New York, United States of America, without giving effect to any conflict of laws principles
      thereof or other rule that would result in the application of the Laws of any jurisdiction other than those of the State of New York. The United Nations Convention of Contracts for the International Sale of Goods does not apply to this Agreement.

     

    	14.2	
            EXCLUSIVE JURISDICTION

          

     

    The Parties irrevocably agree that the courts of New York, New York shall have exclusive jurisdiction to hear and decide any suit, action or proceedings, and/or to settle any disputes, which may
      arise out of or in any way relate to this Agreement or its formation and, for these purposes, each Party irrevocably submits to the exclusive jurisdiction of the courts of New York. Each Party further irrevocably and unconditionally waives and agrees
      not to plead or claim in such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum.

     

    	15.	
            ASSIGNMENT

          

     

    	15.1	
            Neither Party shall assign this Agreement without prior written consent of the other Party, which consent shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing: (a) a Party may assign its rights and
              delegate its obligations under this Agreement, in whole or in part, without any consent of the other Party, to: (i) an Affiliate, or (ii) a Third Party that acquires all or substantially all of the assets of such Party to which the subject
              matter of this Agreement pertains (whether by merger, reorganization, acquisition, or sale of assets); and (b) the Licensee may assign its rights and delegate its obligations, in whole or in part, to any Person in the Viatris Group, without
              the consent of the Licensor, provided that such Party assigning its rights shall give the other Party notice of the same within a reasonable time of doing so.

          

     

    	15.2	
            Any attempted assignment by any Party in breach of this provision shall be null and void and have no force or effect whatsoever.

          

     

    	15.3	
            The terms of this Agreement shall be binding upon and shall inure to the benefit of the successors-in-interest and permitted assigns of the Parties. In the event of any assignment by a Party of its rights and obligations under this
              Agreement in accordance with this Section 15 (Assignment), the assignee shall assume all obligations of its assignor under this Agreement.

          

     

    
      34

      
        

    

    
      	16.	
              EXPENSES

            

    

     

    

    Except as otherwise expressly provided in this Agreement, each Party shall bear its own costs incurred in the performance of its obligations hereunder without charge or expense to the other
      (including the fees and expenses of its respective lawyers and other experts) and all other expenses and costs incurred by such Party incidental to the negotiation, preparation, execution, and delivery of this Agreement. Neither Party will have any
      responsibility for the hiring, termination, or compensation of the other Party’s employees or for any employee compensation or benefits of the other Party’s employees. No employee or representative of a Party will have any authority to bind or
      obligate the other Party for any sum or in any manner whatsoever, or to create or impose any contractual or other liability on the other Party without such other Party’s approval.

     

    	17.	
            NOTICES

          

     

    	17.1	
            All notices, consents, waivers, and other communications under this Agreement must be in writing and will be deemed to have been duly given when: (a) delivered by hand or by express courier service (in both instances with written
              confirmation of receipt); or (b) received by the addressee if sent by an internationally recognized overnight delivery service (receipt requested); or (c) in case of email the same to be sent confirming that a delivery receipt is required,
              upon receipt of the delivery confirmation to the sender, that it has been received by the addressee, in each case, to the appropriate addresses set forth below (or to such other addresses as a Party may designate by written notice):

          

    

    

    	
            In the case of notices to Licensor:

          	
            With a required copy to (which would not

            construe as a notice):

          
	 	 	 	 
	
            Address:

          	
            37000 Grand River Avenue, Suite 120,

            Farmington Hills, MI 48335

          	
            Address:

          	
            300 Ottawa Ave. NW, Suite 400,

            Grand Rapid, MI 49503

          
	 	 	 	 
	
            Attention:

          	
            Mina Sooch

          	
            Attention:

          	
            Emily Johns

          
	 	 	 	 
	
            Email:

          	
            [**]

          	
            Email:

          	
            [**]

          
	 	 
	
            In the case of notices to Licensee:

          	
            With a required copy to (which would not

            construe as a notice):

          
	 	 	 	 
	
            Address:

          	
            FamyGen Life Sciences, Inc

            550 Cochituate Road,

            East Wing, 4th Floor,

            Suite 25, Framingham,

            MA 01701,

            USA

             

          	
            Address:

          	
            Khaitan & Co

            One World Centre

            13th Floor, Tower 1

            841 Senapati Bapat Marg

            Mumbai – 400 013

            India

          
	 	 	 	 
	
            Attention:

          	
            Shiladitya Sengupta

             

          	
            Attention:

          	
            Kapish Mandhyan

            Kartick Maheshwari

          
	 	 	 	 
	
            E-mail:

          	
            [**]

             

          	
            E-mail:

          	
            [**]

            [**]

          

     

    
      35

      
        

    

    	17.2	
            Each Party may change its address for purposes of this Agreement by written notice to the other Party.

          

     

    	18.	
            WAIVER AND AMENDMENT

          

     

    The failure of a Party to assert a right hereunder or to insist upon compliance with any term or condition of this Agreement shall not constitute a waiver of that right or excuse a similar subsequent
      failure to perform any such term or condition by the other Party. No waiver shall be effective unless it has been given in writing and signed by the Party giving such waiver. No provision of this Agreement may be amended or modified other than by a
      written document signed by authorized representatives of each Party.

     

    	19.	
            SEVERABILITY

          

     

    Without prejudice to any other rights that a Party may have pursuant to this Agreement, every provision of this Agreement is intended to be severable. If any provision of this Agreement shall be
      invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions of this Agreement, which shall remain in full force and effect. The Parties hereto agree to consult each other and to agree upon a new stipulation
      which is permissible under the Law and which comes as close as possible to the original purpose and intent of the invalid, void, or unenforceable provision.

     

    	20.	
            ENTIRE AGREEMENT

          

     

    This Agreement constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, between the Parties with respect to the subject matter hereof.

     

    	21.	
            RELATIONSHIP OF THE PARTIES

          

     

    Nothing contained in this Agreement shall be deemed to constitute, create, give effect to, or otherwise recognize a partnership, association, joint venture, or legal entity of any type between
      Licensor and Licensee, or to constitute one as the agent of the other. Moreover, each Party agrees not to construe this Agreement, or any of the transactions contemplated hereby, as a partnership for any tax purposes. Each Party shall act solely as
      an independent contractor, and nothing in this Agreement shall be construed to give any Party the power or authority to act for, bind, or commit the other.

     

    	22.	
            COUNTERPARTS

          

     

    This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one (1) and the same instrument. This Agreement
      and any amendments hereto, to the extent signed and delivered by means of electronic reproduction (e.g., portable document format (.pdf), shall be treated in all manner and respects as an original and shall be considered to have the same binding
      legal effects as if it were the original signed version thereof delivered in person.

     

    
      36

      
        

    

    
      	23.	
              INJUNCTIVE RELIEF

            

    

     

    

    The Parties understand and agree that monetary damages may not be a sufficient remedy for breach of this Agreement and that each Party will be entitled to seek equitable relief, including injunction
      and specific performance for any such breach.

     

    	24.	
            CUMULATIVE REMEDIES

          

     

    No remedy referred to in this Agreement is intended to be exclusive, but each shall be cumulative and in addition to any other remedy referred to in this Agreement or otherwise available under Law.

     

    	25.	
            FORCE MAJEURE

          

     

    If and to the extent that either Party is prevented or delayed by Force Majeure from performing any of its obligations under this Agreement and promptly so notifies the other Party in writing,
      specifying the matters constituting Force Majeure together with such evidence in verification thereof as it can reasonably give and specifying the period for which it is estimated that the prevention or delay will continue, then the Party so affected
      shall be relieved of liability to the other for failure to perform or for delay in performing such obligations (as the case may be), but shall nevertheless use all efforts to resume full performance thereof.

     

    	26.	
            FURTHER ASSURANCES

          

     

    Licensee and Licensor hereby covenant and agree without the necessity of any further consideration, to execute, acknowledge and deliver any and all such other documents and take any such other action
      as may be reasonably necessary to carry out the intent and purposes of this Agreement.

     

    [Following this page are the signature pages]

     

    
      37

      
        

    

    IN WITNESS WHEREOF, THE PARTIES HERETO HAVE CAUSED THIS AGREEMENT TO BE DULY EXECUTED AND DELIVERED BY THEIR DULY AUTHORISED REPRESENTATIVES AS OF THE DAY AND YEAR FIRST HEREINABOVE WRITTEN

     

    	
            Signed and delivered for and on behalf of

          	 
	 	 
	
            Ocuphire Pharma Inc.

          	 
	 	 
	
            /s/ Mina Sooch

          	 
	 	 
	
            Name: Mina Sooch

          	 
	 	 
	
            Title: Chief Executive Officer

          	 

     

    
      38

      
        

    

    IN WITNESS WHEREOF, THE PARTIES HERETO HAVE CAUSED THIS AGREEMENT TO BE DULY EXECUTED AND DELIVERED BY THEIR DULY AUTHORISED REPRESENTATIVES AS OF THE DAY AND YEAR FIRST HEREINABOVE WRITTEN

     

    	
            Signed and delivered for and on behalf of

          	 
	 	 
	
            FamyGen Life Sciences, Inc.

          	 
	 	 
	
            /s/ Shiladitya Sengupta

          	 
	 	 
	
            Name: Shiladitya Sengupta

          	 
	 	 
	
            Title: Director

          	 

     

    
      39

      
        

    

    SCHEDULE 1 | INTELLECTUAL PROPERTY

     

    
      
        

    

    SCHEDULE 2 | DEVELOPMENT PLAN OUTLINE AND DEVELOPMENT BUDGET

     

    
      
        

    

    SCHEDULE 3 | PAYMENT TERMS

     

    	

          	1.	
            PAYMENT TERMS

          

     

    In consideration of the licenses and other rights granted to Licensee herein, the Licensee shall make the payments set out and in accordance with this Schedule 3, subject to the terms of this
      Agreement.

     

    	

          	(a)	
            Upfront Payment. Within [**] following the Effective Date, Licensee shall pay to Licensor a one-time non-refundable payment in the amount of thirty-five million Dollars ($35,000,000).

          

     

    	

          	(b)	
            Milestone Payments. Subject to the terms and conditions of this Agreement, Licensee shall pay to Licensor the following non-refundable milestone payments, provided
                that such milestone payments shall only be paid once during the Term:

          

     

    	

          	i.	
            Regulatory Milestones

          

     

    	

          	(A)	
            Ten million Dollars ($10,000,000) on achieving FDA Approval for Product 1A;

          

     

    	

          	(B)	
            [**] on achieving [**]

          

     

    	

          	(C)	
            [**] on achieving [**] and

          

     

    	

          	(D)	
            [**] on achieving [**]

          

     

      each of the aforesaid hereinafter referred to as the “Regulatory Milestone”.

     

    Licensor shall immediately notify Licensee in writing on receiving each of the aforesaid FDA Approval. Licensor shall raise an invoice for the milestone payment linked to such Regulatory Milestone
      [**] Within [**] of receipt of such invoice, Licensee shall make payment for the relevant Regulatory Milestone.

     

    	

          	ii.	
            Sales Milestones

          

     

    Each of the following non-refundable amounts shall be payable only upon the first time each of the following Net Sales (in a single Calendar Year) is achieved during the entire Term:

     

    	

          	(A)	
            An amount of [**] on achieving [**]

          

     

    	

          	(B)	
            An amount of [**] on achieving [**]

          

     

    	

          	(C)	
            An amount of [**] on achieving [**]

          

     

    	

          	(D)	
            An amount of [**] on achieving [**]

          

     

    	

          	(E)	
            An amount of [**] on achieving [**]

          

     

    	

          	(F)	
            An amount of [**] on achieving [**]

          

     

    each of the aforesaid hereinafter referred to as the “Sales Milestone”.

     

    Licensee shall notify Licensor in writing within [**] following the close of the Calendar Year in which the milestone set forth in this Section 1(b)(ii) (Sales
        Milestones) has been met and shall make the appropriate milestone payment within [**] after the achievement of such milestone.

     

    
      
        

    

    For the purposes of clarification: (i) in the event that in a given Calendar Year more than one (1) of the Sales Milestone is achieved, Licensee shall pay Licensor a separate payment for each such
      Sales Milestone that is achieved in such Calendar Year without any Sales Milestone being paid more than once during the Term; and (ii) post achievement of a Sales Milestones, no additional amounts shall be due for subsequent or repeated achievements
      of aforesaid Sales Milestones in subsequent Calendar Years.

     

    	(c)	
            Royalty.

          

     

    	

          	(i)	
            Royalty Payable by Licensee. Subject to the terms and conditions of this Agreement, Licensee shall pay Licensor Royalty for the aggregate annual Net Sales of all Products, as
              follows:

          

     

    
      	 	
              Royalty Rate

            
	
              From the date of the First Commercial Sale of the first Product, for the aggregate annual Net Sales of Products in the US

            	
              [**]

            
	
              From the date of the First Commercial Sale of the first Product, for the aggregate annual Net Sales of Products in the ROW

            	
              [**]

            

    

     

    (collectively, the “Royalty Payments”)

     

    	

          	(ii)	
            Additional Royalty Payable by Licensee. Subject to the terms and conditions of this Agreement, Licensee shall pay Licensor additional
              royalty for the aggregate Net Sales of all Products in the US, as follows:

          

     

    
      	
              Annual Product Net Sales per Calendar Year

            	
              Royalty Rate

            
	
              An additional royalty on the amount of aggregate annual Net Sales of Products in the US that is greater than [**]

            	
              Additional [**] on all annual Net Sales that exceeds [**] in a given year

            
	
              An additional royalty on the amount of aggregate annual Net Sales of Products in the US that is greater than [**]

            	
              Additional [**] on all annual Net Sales that exceeds [**] in a given year

            

       

      

       

      

       

      

    

     

    

    

     

      

    

    

     (collectively, the “Additional Royalty”).

     

    

    
      
        

    

    	

          	(A)	
            Royalty Payments pursuant to Section 1(c)(i) (Royalty Payable by Licensee) shall be calculated based on the aggregate Net Sales of Products in the relevant Territory during a Calendar Quarter.

          

     

    	

          	(B)	
            Additional Royalty pursuant to Section 1(c)(ii) (Additional Royalty Payable by Licensee) shall be calculated based on the aggregate annual Net Sales of Products in the US during a Calendar Year.

          

     

    Royalty Payments and Additional Royalty are herein after referred to collectively as “Royalty”.

     

    	

          	(C)	
            Royalty on each Product at the rates set forth above shall continue on a country-by-country basis from the date of the First Commercial Sale of the first Product until December 31, 2040 (the “Royalty Term”).

          

     

    	

          	(D)	
            All Royalty are subject to the following conditions:

          

     

    	

          	I.	
            no Royalty shall be due upon the sale or other transfer among Licensee or its Affiliates, but in such cases the Royalty shall be due and calculated upon Licensee’s or its Affiliates’ Net Sales to the first independent Third Party;

          

     

    	

          	II.	
            no Royalty shall accrue on the sale or other disposition of Product(s) by Licensee or its Affiliates for use in a Clinical Trial;

          

     

    	

          	III.	
            no Royalty shall accrue on the disposition of Product(s) by Licensee or its Affiliates as samples (promotion or otherwise); and

          

     

    	

          	IV.	
            no Royalty shall accrue on donations (for example, to non-profit institutions or government agencies for a non-commercial purpose).

          

     

    	

          	(E)	
            Generic Competition. In the event that in any country or other jurisdiction in the Territory during the Royalty Term for any Product there is Generic Competition in such country or other jurisdiction, then the Royalty set forth in
              Section 1(c) (Royalty) will be reduced by [**] for the remainder of the Royalty Term for all Products in such country or other jurisdiction.

          

     

    	

          	(F)	
            Payment of Royalty; Royalty Reports.

          

     

    	

          	I.	
            Royalty Payments. Royalty Payments payable under Section 1(c)(i) (Royalty Payable by Licensee) shall be payable on actual aggregate Net Sales and shall
              accrue at the time the invoice for the sale of a Product is delivered. Royalty Payment obligations that have accrued during a particular [**] shall be paid, on a [**] basis, within [**] after the end of [**] during which the royalty
              obligation accrued.

          

     

    	

          	II.	
            Additional Royalty. Additional Royalty payable under Section 1(c)(ii) (Additional Royalty Payable by Licensee) shall be payable on actual aggregate annual Net Sales and shall accrue at the
              end [**]. Additional Royalty obligations that have accrued during a particular [**] shall be paid no later than [**] after the [**]

          

     

    
      
        

    

    	

          	III.	
            Royalty Reports. Commencing with the [**] in which the First Commercial Sale of a Product in a country of the Territory is made by the Licensee or its Affiliate or sublicensee, the Licensee shall submit to the Licensor with each
              Royalty Payment a written report of its computation of Royalty due on the aggregate Net Sales in each country during each [**] within [**] after the end of each [**] (and the Licensee shall cause its sub-licensees to submit Royalty reports,
              which report shall indicate: (W) the amount of Net Sales of a Product sold by the Licensee, its Affiliates and sublicensees during the reporting period; (X) the Royalty due thereon; (Y) the exchange rates used in determining the amount of US
              Dollars; and (Z) the number of units and average selling price for the Product included in Net Sales for such [**]

          

     

    	(d)	
            Conversion. All payments made under this Schedule 3 shall be made in Dollars except as otherwise agreed to in writing by the parties. With respect to amounts required to be converted into another currency for calculation of
              the payment amount, such amount shall be converted using a rate of exchange which corresponds to the average monthly rate used for conversion between the relative currencies that are maintained in accordance with Accounting Standards.

          

     

    	(e)	
            Products.  Notwithstanding the definition of “Products” in the Agreement, for the purpose of calculating Sales Milestones, Royalties and Royalty Payments in Schedule 3, the definition of
              “Products” shall also include [**]

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