Document:

EX-10.2

 Exhibit 10.2 

TERADYNE, INC. 
 2006
EQUITY AND CASH COMPENSATION INCENTIVE PLAN 
 (as amended through May 7, 2021) 

1. Purpose and Eligibility. 
 The purpose
of this 2006 Equity and Cash Compensation Incentive Plan (the “Plan”) of Teradyne, Inc. is to provide equity ownership and compensation opportunities in the Company (each an “Award”) to employees, officers,
directors, consultants and advisors of the Company and its Subsidiaries, all of whom are eligible to receive Awards under the Plan. Any person to whom an Award has been granted under the Plan is called a “Participant.” Additional
definitions are contained in Section 14(a). 
 2. Administration. 

a. Administration by Committee of Independent Members of the Board of Directors. The Plan will be administered by a committee (the
“Committee”) composed solely of members of the Board of Directors of the Company that are “independent,” as defined pursuant to Rule 10A-3(b)(1) of the Securities Exchange Act of
1934, as amended, and as proscribed under Rule 5605(a)(2) of The Nasdaq Stock Market LLC (“Nasdaq”), or any amendment, supplement or modification thereto; provided, however, that at any time and on any one or more occasions
the Board may itself exercise any of the powers and responsibilities assigned the Committee under the Plan and when so acting shall have the benefit of all of the provisions of the Plan pertaining to the Committee’s exercise of its authorities
hereunder. The Committee, in its sole discretion, shall have the authority to grant Awards, to adopt, amend and repeal rules relating to the Plan, to interpret and correct the provisions of the Plan and any Award, and, subject to the limitations of
the Plan, to modify and amend any Award. All decisions by the Committee shall be final and binding on all interested persons. Neither the Company nor any member of the Committee shall be liable for any action or determination relating to the Plan.

 b. Delegation to Executive Officers. To the extent permitted by applicable law, the Committee may delegate to one or more
executive officers of the Company the power to grant Awards and exercise such other powers under the Plan as the Committee may determine; provided, however, that the Committee shall fix the maximum number of Awards to be granted and the
maximum number of shares issuable to any one Participant pursuant to Awards granted by such executive officer or officers. The Committee may, by a resolution adopted by the Committee, authorize one or more executive officers of the Company to do one
or both of the following: (i) designate employees of the Company or of any of its subsidiaries to be recipients of Awards and (ii) determine the number, type and terms of such Awards to be received by such employees, subject to the
limitations of the Plan; provided, however, that, in each case, the resolution so authorizing such officer or officers shall specify the maximum number and type of Awards such officer or officers may so award. The Committee may not authorize
an officer to designate himself or herself as a recipient of any such Awards or to grant Awards to other executive officers of the Company. 

 3. Stock Available for Awards. 

a. Number of Shares. Subject to adjustment under Section 3(c), the aggregate number of shares (the “Authorized
Shares”) of the Company’s common stock, $0.125 par value per share (the “Common Stock”), that may be issued pursuant to the Plan shall be 32,000,000 shares of Common Stock. If any Award expires, is terminated,
surrendered, forfeited, expires unexercised, is settled in cash in lieu of Common Stock or is exchanged for other Awards, in whole or in part, the unissued Common Stock covered by such Award shall again be available for the grant of Awards under the
Plan. Shares of Common Stock delivered to the Company by a Participant to (i) purchase shares upon the exercise of an Award, or (ii) satisfy statutory tax withholding obligations with respect to any Award shall not be added back to the
number of shares available for the future grant of Awards under the Plan. All shares of Common Stock covered by an SAR shall be counted against the number of shares available for the grant of Awards under the Plan; provided, however, that SARs that
may be settled only in cash shall not be so counted. Shares of Common Stock repurchased by the Company on the open market using the proceeds from the exercise of an Award shall not increase the number of shares available for future grants of Awards.
Shares issued under the Plan may consist in whole or in part of authorized but unissued shares. Notwithstanding anything to the contrary in this Plan, the foregoing limitations shall be subject to adjustment under Section 3(c). 

b. Per-Participant Limit. Subject to adjustment under Section 3(c), no Participant may be
granted stock-based Awards during any one fiscal year to purchase more than 2,000,000 shares of Common Stock. 
 c. Adjustment to Common
Stock. In the event of any stock split, stock dividend, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin-off, split-up, or other similar change in capitalization or event, (i) the number and class of securities available for Awards under the Plan and the per-Participant share
limit, (ii) the number and class of securities, vesting schedule and exercise price per share subject to each outstanding stock-based Award, (iii) the repurchase price per security subject to repurchase, and (iv) the terms of each
other outstanding stock-based Award shall be adjusted by the Company (or substituted Awards may be made) to the extent the Committee shall determine, in good faith, that such an adjustment (or substitution) is appropriate. If Section 11(f)(i)
applies for any event, this Section 3(c) shall not be applicable. 
 d. Fractional Shares. No fractional shares shall be issued
under the Plan and the Participant shall, at the Committee’s discretion, receive either cash in lieu of such fractional shares or a full share for each fractional share. 

  
 2 

 4. Stock Options. 

a. General. The Committee may grant options to purchase Common Stock (each, an “Option”) and determine the terms and
conditions of each Option, including, but not limited to (i) the number of shares subject to such Option or a formula for determining such, (ii) subject to Section 4(e) hereof, the exercise price of the Options and the means of
payment for the shares, (iii) the Performance Criteria (as defined in Section 11(d)), if any, and level of achievement of such Performance Criteria that shall determine the number of shares or Options granted, issued, retainable and/or
vested, (iv) the terms and conditions of the grant, issuance and/or forfeiture of the shares or Options, and (v) such further terms and conditions as may be determined from time to time by the Committee, in each case not inconsistent with
this Plan. 
 b. Incentive Stock Options. An Option that the Committee intends to be an “incentive stock option” as defined
in Section 422 of the Code (an “Incentive Stock Option”) shall be granted only to employees of the Company and shall be subject to and shall be construed consistently with the requirements of Section 422 of the Code. The
Committee and the Company shall have no liability if an Option or any part thereof that is intended to be an Incentive Stock Option does not qualify as such. 

c. Nonstatutory Stock Options. An Option or any part thereof that does not qualify as an Incentive Stock Option is referred to herein as
a “Nonstatutory Stock Option.” 
 d. Dollar Limitation. For so long as the Code shall so provide, Options granted to
any employee under the Plan (and any other plans of the Company) which are intended to constitute Incentive Stock Options shall not constitute Incentive Stock Options to the extent that such Options, in the aggregate, become exercisable for the
first time in any one calendar year for shares of Common Stock with an aggregate Fair Market Value (as defined in Section 14 and determined as of the respective date or dates of grant) of more than $100,000 (or such other limit as may be
provided by the Code). To the extent that any such Incentive Stock Options exceed the $100,000 limitation (or such other limit as may be provided by the Code), such Options shall be Nonstatutory Stock Options. 

e. Exercise Price. The Committee shall establish the exercise price (or determine the method by which the exercise price shall be
established) at the time each Option is granted and specify the exercise price in the applicable Option agreement, provided, that the exercise price per share specified in the agreement relating to each Option granted under the Plan shall not
be less than the Fair Market Value per share of Common Stock on the date of such grant. In the case of an Incentive Stock Option to be granted to an employee owning stock possessing more than ten percent (10%) of the total combined voting power of
all classes of stock of the Company, the price per share specified in the agreement relating to such Incentive Stock Option shall not be less than one hundred ten percent (110%) of the Fair Market Value per share of Common Stock on the date of grant
(or such other limit as may be provided by the Code). For purposes of determining stock ownership under this subsection, the rules of Section 424(d) of the Code shall apply. Subject to Section 3(c), an Option may not be amended subsequent
to its issuance to reduce the price at which it is exercisable unless such amendment is approved by the Company’s shareholders. 
  

  
 3 

 f. Duration of Options. Each Option shall be exercisable at such times and subject to
such terms, conditions and expiration as the Committee may specify in the applicable Option agreement; provided, that no Option shall be exercisable for a period of time greater than ten (10) years from the date of grant of such Option;
provided, further, that Incentive Stock Options granted to an employee owning stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company shall be exercisable for a maximum of five
(5) years from the date of grant of such Option (or such other limit as may be provided by the Code). For purposes of determining stock ownership under this subsection, the rules of Section 424(d) of the Code shall apply. 

g. Vesting of Options. At the time of the grant of an Option, the Committee shall establish a vesting date or vesting dates with respect
to the shares of Common Stock covered by such Options; provided that all Options, subject to and except as provided in Sections 11(f), 11(j), 11(l) and 13, shall have a minimum vesting period of no less than one (1) year. The Committee
may establish vesting dates based upon the passage of time and/or the satisfaction of Performance Criteria or other conditions as deemed appropriate by the Committee. 

h. Exercise of Option. Options may be exercised only by delivery to the Company at its principal office address or to such transfer
agent as the Company shall designate of a written notice of exercise specifying the number of shares as to which such Option is being exercised, signed by the proper person, or by notification of the Company-designated third party commercial
provider (the “Third Party Commercial Provider”), in accordance with the procedures approved by the Company and to which the holder of the Option shall have ongoing access by means of accessing such person’s account maintained
with the Third Party Commercial Provider, together with payment in full as specified in Section 4(i) for the number of shares for which the Option is exercised. 

i. Payment Upon Exercise. Common Stock purchased upon the exercise of an Option shall be paid for by one or any combination of the
following forms of payment: 
 (i) in United States dollars in cash or by check payable to order of the Company or by fund
transfer from the Option holder’s account maintained with the Third Party Commercial Provider; 
 (ii) at the discretion
of the Committee, through delivery of shares of Common Stock having a Fair Market Value equal as of the date of the exercise to the cash exercise price of the Option; 
  

  
 4 

 (iii) at the discretion of the Committee and consistent with applicable law,
through the delivery of an assignment to the Company of a sufficient amount of the proceeds from the sale of the Common Stock acquired upon exercise of the Option and an authorization to the Third Party Commercial Provider to pay that amount to the
Company, which sale shall be at the Participant’s direction at the time of exercise; or 
 (iv) at the discretion of the
Committee, by any combination of (i), (ii), or (iii) above. 
 If the Committee exercises its discretion to permit payment of the
exercise price of an Incentive Stock Option by means of the methods set forth in clauses (ii), (iii) or (iv) of the preceding sentence, such discretion shall be exercised in writing in the instrument evidencing the Award of the Incentive Stock
Option. 
 j. Notice to Company of Disqualifying Disposition. By accepting an Incentive Stock Option granted under the Plan, each
optionee agrees to notify the Company in writing immediately after such optionee makes a disqualifying disposition of any stock acquired pursuant to the exercise of the Incentive Stock Options. A “disqualifying disposition” is generally
any disposition occurring on or before the later of (a) the date two years following the date the Incentive Stock Option was granted or (b) the date one year following the date the Incentive Stock Option was exercised. 

k. Issuances of Securities. Except as provided in Section 3(c) or as otherwise expressly provided herein, no issuance by the
Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject to Options. No adjustments
shall be made for dividends paid in cash or in property other than securities of the Company. A Participant that is the holder of an Option shall not be entitled to receive dividends or dividend equivalents declared and payable prior to exercise of
the Option. 
 5. Stock Appreciation Rights 

a. General. A Stock Appreciation Right (a “SAR”) is an Award entitling the holder, upon exercise, to receive an amount
in cash or Common Stock, or a combination thereof (such form to be determined by the Committee), determined solely by reference to appreciation, from and after the date of grant, in the Fair Market Value of a share of Common Stock. The date as of
which such appreciation or other measure is determined shall be the exercise date of the SAR Award. 
 b. Grants. SARs may be granted
in tandem with, or independently of, Options granted under the Plan. 
 (1) Tandem Awards. When SARs are expressly
granted in tandem with Options: (i) the SARs will be exercisable only at such time or times, and to the extent, that the related Option is exercisable, and will be exercisable in accordance with the procedure required for exercise of the
related Option; (ii) the SARs will terminate and no longer be exercisable upon the termination or exercise of the related Option, except that a SAR granted with respect to less than 

  
 5 

 
the full number of shares covered by an Option will not be terminated until and only to the extent that the number of shares as to which the related Option has been exercised or has terminated
exceeds the number of shares not covered by the SAR; (iii) the Option will terminate and no longer be exercisable upon the exercise of the related SAR; and (iv) the SAR will be transferable only with the related Option. 

(2) Independent Stock Appreciation Rights. A SAR not expressly granted in tandem with an Option will become exercisable
at such time or times, and on such conditions, as the Committee may specify in the SAR Award. 
 c. Terms and Conditions. The
Committee shall determine all terms and conditions of a SAR Award, including, but not limited to (i) the number of shares subject to such SAR Award or a formula for determining such, (ii) the Performance Criteria, if any, and level of
achievement of such Performance Criteria that shall determine the number of shares granted, issued, retainable and/or vested or the amount of cash payable, (iii) the terms and conditions on the grant, issuance and/or forfeiture of the shares,
and (iv) such further terms and conditions as may be determined from time to time by the Committee, in each case not inconsistent with this Plan. Subject to Section 3(c), a SAR may not be amended subsequent to its issuance to reduce the
price used to determine the measurement price upon exercise unless such amendment is approved by the Company’s shareholders.A Participant that is the holder of a SAR Award shall not be entitled to receive dividends or dividend equivalents. The
Amendment of all SAR Awards shall be subject to Section 11(n). 
 d. Vesting of SAR Awards. At the time of the grant of a SAR
Award, the Committee shall establish a vesting date or vesting dates with respect to such SAR Award, provided that all SAR Awards, subject to and except as provided in Sections 11(f), 11(j), 11(l) and 13, shall have a minimum vesting period
of no less than one (1) year; and, provided, further, that SARs awarded in tandem with Options shall be subject to the same vesting date or vesting dates established by the Committee pursuant to Section 4(g) for such related Options and
shall be exercisable only to the extent that such related Option shall then be exercisable. The Committee may establish vesting dates based upon the passage of time and/or the satisfaction of Performance Criteria or other conditions as deemed
appropriate by the Committee. 
 6. Restricted Stock. 

a. Grants. The Committee may grant Awards entitling recipients to acquire shares of Common Stock, subject to (i) delivery to the
Company by the Participant of cash, a check or other sufficient legal consideration in an amount at least equal to the par value of the shares purchased, (ii) the right of the Company to repurchase or reacquire all or part of such shares at
their issue price or other stated or formula price from the Participant in the event that conditions specified by the Committee in the applicable Award are not satisfied prior to the end of the applicable restriction period or periods established by
the Committee for such Award (each, a “Restricted Stock Award”), and (iii) Section 6(b). 
  

  
 6 

 b. Terms and Conditions. A Participant that is the holder of a Restricted Stock
Award, whether vested or unvested, shall be entitled to enjoy all shareholder rights with respect to the shares of Common Stock underlying such Restricted Stock Award, including the right to vote such shares. Subject to Section 6(c), the
Committee shall determine all terms and conditions of any such Restricted Stock Award, including, but not limited to (i) the number of shares subject to such Restricted Stock Award or a formula for determining such, (ii) the purchase price
of the shares, if any, and the means of payment for the shares, (iii) the Performance Criteria, if any, and level of achievement of such Performance Criteria that shall determine the number of shares granted, issued, retainable and/or vested,
(iv) the terms and conditions on the grant, issuance and/or forfeiture of the shares, and (v) such further terms and conditions as may be determined from time to time by the Committee, in each case not inconsistent with this Plan. At the
Committee’s election, shares of Common Stock issued in respect of a Restricted Stock Award may be (i) held in book entry form subject to the Company’s instructions until any restrictions relating to the Restricted Stock Award lapses,
or (ii) evidenced by a stock certificate that may bear a legend indicating that the ownership of the shares of Common Stock represented by such certificate is subject to the restrictions, terms and conditions of this Plan and the Restricted
Stock Award. Any stock certificates issued in respect of a Restricted Stock Award shall be registered in the name of the Participant. All certificates registered in the name of the Participant shall, unless otherwise determined by the Committee, be
deposited by the Participant, together with a stock power endorsed in blank, with the Company (or its designee). After the expiration of the applicable restriction periods, the Company (or such designee) shall deliver the certificates no longer
subject to such restrictions to the Participant or, if the Participant has died, to the beneficiary designated by the Participant, in a manner determined by the Committee, to receive amounts due or exercise rights of the Participant in the event of
the Participant’s death (the “Designated Beneficiary”). In the absence of an effective designation by a Participant, Designated Beneficiary shall mean the Participant’s estate. 

c. Vesting of Restricted Stock. At the time of the grant of a Restricted Stock Award, the Committee shall establish a vesting date or
vesting dates with respect to the shares of Common Stock covered by such Restricted Stock Award, which vesting dates may be based upon the passage of time and/or the satisfaction of Performance Criteria or other conditions as deemed appropriate by
the Committee; provided, that all Restricted Stock Awards, subject to and except as provided in Sections 11(f), 11(j), 11(l) and 13, shall have a minimum vesting period of no less than one (1) year. 

7. Restricted Stock Unit. 
 a.
Grants. The Committee may grant Awards entitling recipients to acquire shares of Common Stock in the future, with the future delivery of the Common Stock subject to a risk of forfeiture or other restrictions that will lapse upon the
satisfaction of one or more specified conditions (each, a “Restricted Stock Unit”). 

  
 7 

 b. Terms and Conditions. Subject to Section 7(c), the Committee shall determine
all terms and conditions of any such Restricted Stock Unit, including, but not limited to (i) the number of shares subject to such Restricted Stock Unit or a formula for determining such, (ii) the purchase price of the shares, if any, and
the means of payment for the shares, (iii) the Performance Criteria, if any, and level of achievement of such Performance Criteria that shall determine the number of shares granted, issued, retainable and/or vested, (iv) the terms and
conditions on the grant, issuance and/or forfeiture of the shares, and (v) such further terms and conditions as may be determined from time to time by the Committee, in each case not inconsistent with this Plan. A Participant that is the holder
of a Restricted Stock Unit Award shall not be entitled to shareholder rights with respect to the Restricted Stock Units, including the right to vote such shares represented by the a Restricted Stock Unit or to receive dividends. Any dividend
equivalents awarded with respect to a Restricted Stock Unit shall be subject to the same restrictions on transferability and forfeiture as the Restricted Stock Units with respect to which the dividend equivalent is paid. A Restricted Stock Unit may
be settled in cash or Common Stock, as determined by the Committee, with the amount of the cash payment based on the Fair Market Value of the shares of Common Stock at the time of vesting. Any such settlements may be subject to such conditions,
restrictions and contingencies as the Committee shall establish. 
 c. Vesting of Restricted Stock Unit. At the time of the grant of a
Restricted Stock Unit, the Committee shall establish a vesting date or vesting dates with respect to the shares of Common Stock covered by such Restricted Stock Unit, which vesting dates may be based upon the passage of time and/or the satisfaction
of Performance Criteria or other conditions as deemed appropriate by the Committee; provided, that all Awards of Restricted Stock Units, subject to and except as provided in Sections 11(f), 11(j), 11(l) and 13, shall have a minimum vesting
period of no less than one (1) year. 
 8. Phantom Stock. 

a. General. The Committee may grant Awards entitling recipients to receive, in cash or shares, the Fair Market Value of shares of Common
Stock (“Phantom Stock”) upon the satisfaction of one or more specified conditions. 
 b. Terms and Conditions.
Subject to Section 8(c), the Committee shall determine the terms and conditions of a Phantom Stock Award, including, but not limited to (i) the number of shares subject to or represented by such Phantom Stock Award or a formula for
determining such, (ii) the purchase price of the shares, if any, and the means of payment for the shares, (iii) the Performance Criteria, if any, and level of achievement of such Performance Criteria that shall determine the number of
shares granted, issued, retainable and/or vested or the amount of cash payable, (iv) the terms and conditions on the grant, issuance and/or forfeiture of the shares or Phantom Stock Award, and (v) such further terms and conditions as may
be determined from time to time by the Committee, in each case not inconsistent with this Plan. A Participant may not vote the shares represented by a Phantom Stock Award. Any settlements of Phantom Stock Awards may be subject to such conditions,
restrictions and contingencies as the Committee shall establish. 

  
 8 

 c. Vesting of Phantom Stock. At the time of the grant of a Phantom Stock Award, the
Committee shall establish a vesting date or vesting dates with respect to such Phantom Stock Award; provided that all Phantom Stock Awards, subject to and except as provided in Sections 11(f), 11(j), 11(l) and 13, shall have a minimum vesting period
of no less than one (1) year. The Committee may establish vesting dates based upon the passage of time and/or the satisfaction of Performance Criteria or other conditions as deemed appropriate by the Committee. 

9. Other Stock-Based Awards. 
 The
Committee shall have the right to grant other Awards based upon the Common Stock and having such terms and conditions as the Committee may determine, including, without limitation, the grant of shares based upon certain conditions and/or Performance
Criteria, the grant of securities convertible into Common Stock and the grant of stock units. The Committee shall determine the terms and conditions of any such Awards, including, but not limited to (i) the number of shares subject to such
Award or a formula for determining such, (ii) the purchase price of the shares, if any, and the means of payment for the shares, (iii) the Performance Criteria, if any, and level of achievement of such Performance Criteria that shall
determine the number of shares granted, issued, retainable and/or vested, (iv) the terms and conditions on the grant, issuance and/or forfeiture of the shares or Award, and (v) such further terms and conditions as may be determined from
time to time by the Committee, in each case not inconsistent with this Plan. At the time of the grant of an Award under this Section 9, the Committee shall establish a vesting date or vesting dates with respect to such Award, which vesting date
may be based upon the passage of time and/or the satisfaction of Performance Criteria or other conditions as deemed appropriate by the Committee; provided, that all Full Value Awards, subject to and except provided in Sections 11(f), 11(j),
11(l) and 13,granted under this Section 9 shall have a minimum vesting period of no less than one (1) year. 
 10. [Intentionally Omitted]

 11. General Provisions Applicable to Awards. 

a. Transferability of Awards. Except as the Committee may otherwise determine or provide in an Award, Awards shall not be sold,
assigned, transferred, pledged or otherwise encumbered by the person to whom they are granted, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the life of the Participant, shall be
exercisable only by the Participant, provided, however, that Nonstatutory Stock Options may be transferred to a grantor-retained annuity trust or a similar estate-planning vehicle in which the trust is bound by all provisions of the Option
which are applicable to the Participant. References to a Participant, to the extent relevant in the context, shall include references to authorized transferees of such an Option. 

b. Documentation. Each Award granted under the Plan shall be evidenced by a written Award agreement in such form as the Committee shall
from time to time approve. Award agreements shall comply with the terms and conditions of the Plan and 

  
 9 

 
may contain such other provisions not inconsistent with the terms and conditions of the Plan as the Committee shall deem advisable. In the case of an Incentive Stock Option, the Award agreement
shall contain, or refer to, such provisions relating to exercise and other matters as are required of “incentive stock options” under the Code. Award agreements may be evidenced by an electronic transmission (including an e-mail or reference to a website or other URL) sent to the Participant through the Company’s normal process for communicating electronically with its employees. As a condition to receiving an Award, the
Committee may require the Participant to affirmatively accept the Award and agree to the terms and conditions set forth in the Award agreement by physically and/or electronically executing the Award agreement or by otherwise physically and/or
electronically acknowledging such acceptance and agreement. With or without such affirmative acceptance, however, the Committee may prescribe conditions (including the exercise or attempted exercise of any benefit conferred by the Award) under which
the proposed Participant may be deemed to have accepted the Award and agreed to the terms and conditions set forth in the Award agreement. 

c. Committee Discretion. The terms of each type of Award need not be identical, and the Committee need not treat Participants uniformly.

 d. Performance Criteria. For purposes of this Plan, the term “Performance Criteria” shall mean performance
criteria, applied to either the Company as a whole or to a division, business unit or Subsidiary, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a
pre-established target, to previous years’ results or to a designated comparison group, in each case as specified by the Committee in the Award, including, without limitation, the following: cash flow;
earnings per share; earnings before interest, taxes and amortization; return on equity; total shareholder return; share price performance; return on capital; return on assets or net assets; revenue; orders; product gross margins, including by
customer; income or net income; operating income or net operating income; operating profit or net operating profit; income from operations less restructuring and other, net, amortization of acquired intangible assets, acquisition and divestiture
related charges or credits, pension actuarial gains and losses, and other non-recurring gains and charges; operating margin or profit margin; return on operating revenue; return on invested capital; market
segment share; customer wins or design ins; product release schedules; new product innovation; product cost reduction; brand recognition/acceptance; product ship targets; process improvement results; verification of business strategy and/or business
plan; improvement of strategic position; adaptation to changes in the marketplace or environment; or customer satisfaction. A Performance Criteria may also be based on individual performance or subject Performance Criteria as determined by the
Committee. The Committee may appropriately evaluate achievement against Performance Criteria to take into account, without limitation, any of the following events that occurs during a performance period: asset write-downs; litigation or claim
judgments or settlements; the effect of changes in tax law; accounting principles or other such laws or provisions affecting reported results; accruals for reorganization and restructuring programs and any extraordinary non-recurring charges or other events. The Committee may prescribe the foregoing criteria either individually or in combination. The Committee’s determination of the achievement of any Performance Criteria
shall be conclusive. At the time of the grant of 

  
 10 

 
any Full Value Award subject to this Section 11(d), the Committee shall establish a vesting date or vesting dates with respect to the shares of Common Stock covered by such Awards;
provided that all Full Value Awards subject to this Section 11(d), subject to and except as provided in Sections 11(f), 11(j), 11(l) and 13, shall have a minimum vesting period of no less than one (1) year. 

e. Termination of Status. Except as otherwise specified herein, the Committee shall determine the effect on an Award of the disability,
death, retirement, authorized leave of absence or other change in the employment or other status of a Participant and the extent to which, and the period during which, the Participant, or the Participant’s legal representative, conservator,
guardian or Designated Beneficiary, may exercise rights under the Award under such circumstances, subject to applicable law and the provisions of the Code. 

f. Acquisition or Liquidation of the Company. 

(i) Consequences of an Acquisition. If the Company is to be consolidated with or acquired by another entity in a merger
or other reorganization in which the holders of the outstanding voting stock of the Company immediately preceding the consummation of such event shall, immediately following such event, hold, as a group, less than a majority of the voting securities
of the surviving or successor entity, or in the event of a sale of all or substantially all of the Company’s assets or otherwise (each, an “Acquisition”), the Committee or the board of directors of any entity assuming the
obligations of the Company hereunder (the “Successor Committee”), shall, as to outstanding Awards, either (A) make appropriate provision for the continuation of such Awards by substituting on an equitable basis for the shares
then subject to such Awards either (1) the consideration payable with respect to the outstanding shares of Common Stock in connection with the Acquisition, (2) shares of stock of the surviving or successor corporation or (3) such
other securities as the Committee or the Successor Committee deems appropriate, the Fair Market Value of which shall not materially exceed the Fair Market Value of the shares of Common Stock subject to such Awards immediately preceding the
Acquisition; or (B) upon written notice to the Participants, provide that all Awards must be exercised, to the extent then exercisable or to be exercisable as a result of the Acquisition, within a specified number of days of the date of such
notice, at the end of which period the Awards shall terminate; or (C) terminate all Awards in exchange for a cash payment equal to the excess, if any, of the Fair Market Value of the shares subject to such Awards (to the extent then exercisable
or to be exercisable as a result of the Acquisition) over the exercise price thereof, if any; or (D) in the case of Awards that may be settled in whole or in part in cash, provide for equitable treatment of such Awards. 

(ii) Substitution of Awards Upon Certain Events. In connection with a merger or consolidation of an entity with the
Company or the acquisition by the Company of property or stock of an entity, the Committee may grant Awards under the Plan in substitution for stock and stock-based awards issued by such entity or an affiliate thereof. The substitute Awards shall be
granted on such terms and conditions as the Committee considers appropriate in the circumstances. 
  

  
 11 

 (iii) Liquidation or Dissolution. In the event of the proposed
liquidation or dissolution of the Company, each Award, to the extent not then exercised or vested, will terminate immediately prior to the consummation of such proposed action or at such other time and subject to such other conditions as shall be
determined by the Committee. 
 g. Withholding. Each Participant shall pay to the Company, or make provisions satisfactory to the
Company for payment, of any taxes required by law to be withheld in connection with Awards to such Participant no later than the date of the event creating the tax withholding obligation. Participants may elect to satisfy such tax withholding
obligations by authorizing the Company to withhold shares of Common Stock from the Award creating the tax obligation, valued at their Fair Market Value. If the withholding of shares for legal or accounting reasons is problematic and a Participant
does not otherwise satisfy such tax withholding obligations, the Company may, to the extent permitted by law, deduct any such tax obligations from any payment of any kind otherwise due to a Participant. 

h. Amendment of Awards. The Committee may amend, modify or terminate any outstanding Award including, but not limited to, substituting
therefor another Award of the same or a different type, changing the date of exercise or realization, the vesting provisions (subject to the minimum vesting requirements set forth herein), Performance Criteria, or level of achievement of Performance
Criteria, and converting an Incentive Stock Option to a Nonstatutory Stock Option; provided that, except as otherwise provided in Section 11(f)(i), the Participant’s consent to such action shall be required unless the Committee
determines that the action, taking into account any related action, would not materially and adversely affect the Participant; provided, further, that subject to Section 3(c), an Option may not be amended subsequent to its issuance
either to reduce the price at which such previously issued Option is exercisable or to extend the period of time for which such previously-issued Option shall be exercisable beyond ten (10) years unless such amendment is approved by the
Company’s shareholders. Furthermore, no Option shall be canceled and replaced with Options having a lower exercise price unless such cancellation and exchange is approved by the Company’s shareholders. The Amendment of all Awards shall be
subject to Section 11(n). 
 i. Conditions on Delivery of Stock. The Company will not be obligated to deliver any shares of
Common Stock pursuant to the Plan or to remove restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction of the Company, (ii) in the opinion of the
Company’s counsel, all other legal matters in connection with the issuance and delivery of such shares have been satisfied, including any applicable securities laws and any applicable stock exchange or stock market rules and regulations,
(iii) the Participant has executed and delivered to the Company such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules or regulations, and (iv) the Participant
has paid to the Company, or made provisions satisfactory to the Company for payment of, any taxes required by law to be withheld in connection with the Award. 
  

  
 12 

 j. Acceleration. The Committee may at any time provide in connection with the
disability or death of a Participant or in connection with an event contemplated by Section 11(f)(i), that any Award shall become exercisable in full or in part or shall be free of some or all restrictions or the risk of forfeiture. The
Committee may take the actions contemplated by the preceding sentence despite the fact that such actions may (x) cause the application of Sections 280G and 4999 of the Code if an event contemplated by Section 11(f)(i) occurs, or
(y) disqualify all or part of an Option as an Incentive Stock Option. In the event of the acceleration of the exercisability of one or more outstanding Options, including pursuant to Section 11(f)(i), the Committee may provide, as a
condition of accelerated exercisability of any or all such Options, that the Common Stock or other substituted consideration, including cash, as to which exercisability has been accelerated shall be restricted and subject to forfeiture back to the
Company at the election of the Company at the cost thereof upon termination of employment or other relationship, with the timing and other terms of the vesting of such restricted Common Stock or other consideration being not less favorable to the
Participant than the timing and other terms of the superseded vesting schedule of the related Option. 
 k. Reserved. 

l. Exception to Minimum Vesting Periods and Acceleration Limitations. The Committee may grant or accelerate the vesting of Awards with
respect to up to 5% of the maximum, aggregate shares of Common Stock authorized for issuance hereunder in a manner that does not comply with the minimum vesting periods set forth in Sections 4(g), 5(d), 6(c), 7(c), 8(c), 9, 11(d) and 13 or that is
not otherwise permitted under the vesting acceleration limitations in Section 11(j). 
 m. Compliance with
Section 409A. Any other provision of the Plan or any Award to the contrary notwithstanding, the Plan and every Award hereunder shall be construed, administered and enforced as necessary to comply with applicable requirements
of Section 409A of the Code and the Treasury and IRS rulings and regulations issued thereunder, so that no Participant shall (without such Participant’s express written consent) incur any of the additional tax or interest liabilities of
Section 409A(a)(B) of the Code with respect to any Award. The Plan and each Award are hereby modified and limited as necessary to comply with applicable requirements of Section 409A. Notwithstanding the foregoing, none of the Company, the
Committee nor any person acting on behalf of the Company or the Committee will be liable to any Participant or to any other person with respect to any acceleration of income, any additional tax, or any penalty, interest or other liability asserted
by reason of the failure of an Award to satisfy the requirements of, or be exempt from, Section 409A of the Code or otherwise asserted with respect to any Award. 
  

  
 13 

 n. Compliance with Limitations on Repricing. Unless such action is approved by the
Company’s shareholders, the Company may not, except as provided for under Section 3(c)(i) amend any outstanding Option or SAR granted under the Plan to provide an exercise or measurement price per share that is lower than the then-current
exercise or measurement price per share of such outstanding Option or SAR; (ii)cancel any outstanding option or stock appreciation right (whether or not granted under the Plan) and grant in substitution new Awards under the Plan (other than Awards
granted pursuant to Section 11(f)(ii)); (iii) cancel in exchange for a cash payment any outstanding Option or SAR with an exercise or measurement price per share above the then-current Fair Market Value; or (iv) take any action under the
Plan that constitutes a “repricing” of an Award with the meaning of the rules of Nasdaq, or other exchange on which the Company’s Common Stock is traded. 

12. Foreign Jurisdictions. 
 To the extent
that the Committee determines that the material terms set by the Committee or imposed by the Plan preclude the achievement of the material purposes of the Plan in jurisdictions outside the United States, the Committee will have the authority and
discretion to modify those terms and provide for such other terms and conditions as the Committee determines to be necessary, appropriate or desirable to accommodate differences in local law, policy or custom or to facilitate administration of the
Plan. The Committee may adopt or approve sub-plans, appendices or supplements to, or amendments, restatements or alternative versions of, the Plan as it may consider necessary, appropriate or desirable for
such purpose, without thereby affecting the terms of the Plan as in effect for any other purpose. The special terms and any appendices, supplements, amendments, restatements or alternative versions, however, shall not include any provisions that are
inconsistent with the terms of the Plan as then in effect, unless the Plan could have been amended to eliminate such inconsistency without further approval by the shareholders. The Committee shall also have the authority and discretion to delegate
the foregoing powers to appropriate officers of the Company. 
 13. Non-Employee Director Compensation. 

In addition to the limit set forth in Section 3(b) of the Plan, the aggregate value of all compensation granted or paid to any member of
the Board of Directors who is not an employee of the Company (each, a “Non-Employee Director”) with respect to any calendar year, including Awards granted under the Plan and cash fees or other
compensation paid by the Company to such Non-Employee Director outside of the Plan for his or her services as a Non-Employee Director during such calendar year, may not
exceed $750,000 in the aggregate, calculating the value of any Awards based on the grant date fair value in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor provision (the
“Accounting Rules”), assuming a maximum payout. The limit will not apply to any compensation granted or paid to a Non-Employee Director for his or services to the Company other than as a non-employee director. 
 Awards granted under this Section 13 may be any of the following:
Restricted Stock Units, Restricted Stock, Non-statutory Stock Options, SARs, or a combination of the foregoing. Awards granted under the Plan shall be in addition to the annual Board

  
 14 

 
and Committee cash retainers paid by the Company to the Non-Employee Directors. The type of Awards granted under this Section 13(b) shall be
determined, in each instance, at the Committee’s discretion (subject to the foregoing limitations). The number of shares, if any, covered by Awards granted under this Section 13 shall be subject to adjustment in accordance with the
provisions of Section 3(c) of this Plan. Subject to and except as provided in Sections 11(f), 11(j) and 11(l), an Award of Restricted Stock, Restricted Stock Units, Options or SARS granted pursuant to this Section 13 shall have a minimum
vesting period that extends until the earlier of one year from the grant of the Award or the date the next annual meeting of shareholders is held following the grant of the Award, and shall expire on the date which is ten (10) years after the
date of grant of such Award. 
 14. Miscellaneous. 

a. Definitions. 

(i) “Company” for purposes of eligibility under the Plan, shall include Teradyne, Inc. and any present or
future subsidiary corporations of Teradyne, Inc., as defined in Section 424(f) of the Code (a “Subsidiary”), and any present or future parent corporation of Teradyne, Inc., as defined in Section 424(e) of the Code. For
purposes of Awards other than Incentive Stock Options, the term “Company” shall include any other entity in which the Company has a direct or indirect significant interest, as determined by the Committee in its sole discretion. 

(ii) “Code” means the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder.

 (iii) “Employee” means any full- or part-time employee of the Company. 

(iv) “Fair Market Value” of the Company’s Common Stock on any date means (i) the closing price (on
that date) of the Common Stock on the principal national securities exchange on which the Common Stock is traded, if the Common Stock is then traded on a national securities exchange; or (ii) the average of the closing bid and asked prices last
quoted (on that date) by an established quotation service for over-the-counter securities, if the Common Stock is not then traded on a national securities exchange; or
(iii) if the Common Stock is not publicly traded, the fair market value of the Common Stock as determined by the Committee after taking into consideration all factors which it deems appropriate, including, without limitation, recent sale and
offer prices of the Common Stock in private transactions negotiated at arm’s length; provided, that, in all events the Fair Market Value shall represent the Committee’s good faith determination of the fair market value of the Common
Stock. The Committee’s determination shall be conclusive as to the Fair Market Value of the Common Stock. 
  

  
 15 

 (v) “Full Value Awards” means Restricted Stock, Restricted
Stock Units and Awards other than (a) Options or (b) SARs or (c) other stock-based Awards for which the Participant pays the intrinsic value (whether directly or by forgoing a right to receive a cash payment from the Company). 

b. Legal Consideration for Issuance of Shares. Unless otherwise determined by the Committee, in the case of Awards of Restricted Stock,
Restricted Stock Units, or Awards that are settled in whole or in part with shares of Common Stock, to the extent such Awards do not otherwise require the payment by the Participant of cash consideration that exceeds the par value of the shares of
Common Stock received in connection therewith, the services rendered or to be rendered by the Participant shall satisfy the legal requirement of payment of par value for such shares of Common Stock. 

c. No Right To Employment or Other Status. No person shall have any claim or right to be granted an Award, and the grant of an Award
shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant
free from any liability or claim under the Plan. 
 d. No Rights As Shareholder. Subject to the provisions of the applicable Award, no
Participant or Designated Beneficiary shall have any rights as a shareholder with respect to any shares of Common Stock to be distributed with respect to an Award until becoming the record holder thereof. 

e. Effective Date and Term of Plan. The Plan shall become effective on the date on which it is approved by the shareholders of the
Company (the “Effective Date”). No Awards shall be granted under the Plan after May 12, 2025, but Awards previously granted may extend beyond that date. 

f. Amendment of Plan. The Committee may amend this Plan at any time, provided that any material amendment to the Plan will not be
effective unless approved by the Company’s shareholders. For this purpose, a material amendment is any amendment that would (i) other than pursuant to Section 3(c), materially increase either the aggregate number of shares of Common
Stock available for issuance under the Plan; or the maximum number of shares of Common Stock issuable in one fiscal year to a Participant; (ii) expand or limit the class of persons eligible to receive Awards or otherwise participate in the
Plan; (iii) subject to Section 3(c), reduce the price at which a previously-issued Option is exercisable or extend the period of time for which a previously-issued Option shall be exercisable beyond ten (10) years; (iv) subject to
Section 11(f) and Section 11(j), amend the minimum vesting provisions of Full Value Awards; or (v) require shareholder approval pursuant to the requirements of Nasdaq and/or any other exchange on which the Company is then listed or
pursuant to applicable law. 
 g. Governing Law. The provisions of the Plan and all Awards made hereunder shall be governed by and
interpreted in accordance with the laws of The Commonwealth of Massachusetts, exclusive of reference to rules and principles of conflicts of law. 

  
 16Exhibit
10.1

 

Certain
Information has been excluded from this Exhibit 10.1 because it is both not material and would likely cause competitive harm to
the registrant if publicly disclosed. [***] DENOTES information that has been OMItted.

 

 

 

PATENT
LICENSE AGREEMENT

 

 

 

dated
February 25, 2021

between

 

SINTX
TECHNOLOGIES, INC.

 

and

 

O2
DESIGN, INC.

 

    	 

    	 

    

 

TABLE
OF CONTENTS

 

	ARTICLE
    l. DEFINITIONS	3
	ARTICLE
    2. LICENSE GRANT	5
	ARTICLE
    3. TERM OF AGREEMENT	5
	ARTICLE
    4. FEES & ROYALTIES	6
	ARTICLE
    5. COMMERCIAL DILIGENCE & MILESTONES	7
	ARTICLE
    6. [RESERVED]	7
	ARTICLE
    7. MATERIAL SUPPLY AND CONFIDENTIALITY	7
	ARTICLE
    8. ROYALTY REPORTS	8
	ARTICLE
    9. PAYMENTS, RECORDS AND AUDITS	8
	ARTICLE
    10. PATENT PROSECUTION AND MAINTENANCE	9
	ARTICLE
    11. PATENT MARKING	9
	ARTICLE
    12. TERMINATION BY LICENSOR	9
	ARTICLE
    13. TERMINATION BY LICENSEE	10
	ARTICLE
    14. DISPOSITION OF LICENSED PRODUCTS ON HAND	10
	ARTICLE
    15. WARRANTY BY LICENSOR	10
	ARTICLE
    16. INFRINGEMENT	11
	ARTICLE
    17. INSURANCE	12
	ARTICLE
    18. WAIVER	12
	ARTICLE
    19. ASSIGNABILITY	12
	ARTICLE
    20. INDEMNIFICATION BY LICENSEE	12
	ARTICLE
    21. NOTICES	13
	ARTICLE
    22. REGULATORY COMPLIANCE	13
	ARTICLE
    23. GOVERNING LAW	14
	ARTICLE
    24. RELATIONSHIP OF PARTIES	14
	ARTICLE
    25. USE OF NAMES	14
	ARTICLE
    26. DISPUTE RESOLUTION	14
	ARTICLE
    27. GENERAL PROVISIONS	15
	EXHIBIT
    A: PATENT RIGHTS	17

 

    	2

    	 

    

 

PATENT
LICENSE AGREEMENT

 

THIS
EXCLUSIVE LICENSE AGREEMENT (“Agreement”) is made and entered into this 25th day of February
2021 (the “Effective Date”) by and between SINTX TECHNOLOGIES, INC., a State of Delaware, USA corporation,
having its principal place of business at 1885 West 2100 South, Salt Lake City, UT 84119, hereinafter referred to as “Licensor,”
and O2TODAY DESIGN, INC., a Utah corporation whose principal place of business is 2940 S 300 W, Suite F, South Salt Lake City,
UT 84115 (hereinafter referred to as “Licensee”). Licensee and Licensor may be referred to in this Agreement
collectively as “Parties” or individually as a “Party”.

 

WITNESSETH

 

WHEREAS,
Licensor is the owner of certain inventions which are generally characterized as “Antipathogenic Devices and Methods Thereof,”
hereinafter referred to as “the Invention”, which have been invented in the course of research conducted
by Licensor;

 

WHEREAS,
Licensee wishes to obtain the exclusive rights to use the Invention, and Licensor wishes to grant Licensee an exclusive license
for such use under the terms and conditions set forth in the Agreement; and

 

WHEREAS,
Licensor and Licensee desire to execute this Agreement in order to grant to Licensee exclusive rights to Licensor’s rights
to the Invention (including Patent Rights as defined below) in the Field of Use, subject to the terms and conditions of this Agreement.

 

NOW,
THEREFORE, for and in consideration of the covenants, conditions and undertakings hereinafter set forth, the parties hereby agree
as follows:

 

ARTICLE
l. DEFINITIONS

 

Whenever
used in this Agreement, the capitalized terms quoted below will have the meaning ascribed to them in this Section.

 

	1.1	“Affiliate”
    means any company or other business entity that, directly or indirectly, controls, or is controlled by, or is under common
    control by Licensee. Solely for purposes of this definition, the term “control” means the possession of the power
    to direct or cause the direction of the management and policies of the entity, whether through ownership of voting securities
    or by contract. Control will be presumed if an entity owns, either of record or beneficially, at least fifty percent (50%)
    of the voting stock of the other entity. An entity will be deemed an Affiliate only while such ownership or control relationship
    continues.
	 	 
	1.2	“Covered
    By...” means a claim or claims within any pending or issued patent included in the Patent Rights claiming
    all, a portion, or a component or step of a Licensed Product or Licensed Method.
	 	 
	1.3	“Commercially
    Diligent Efforts” means, with respect to a Licensed Product and/or Licensed Method, the diligent exercise, dedication,
    and expenditure of efforts, money, personnel, and resources as reasonably needed to develop, manufacture, market, and sell
    a Licensed Product and/or Licensed Method. Such efforts shall be documented and must be consistent with those utilized by
    companies of similar size and type that have successfully developed products and services similar to the Licensed Product
    and/or Licensed Method. At a minimum, Commercially Diligent Efforts shall be based upon the commercialization plan submitted
    to Licensor by Licensee as required under Article 5. In determining Commercially Diligent Efforts with respect to a particular
    Licensed Product and/or Licensed Method, Licensee may not reduce such efforts due to the competitive, regulatory, or other
    impact of any other product or method that it owns, licenses, or is developing or commercializing.

 

    	3

    	 

    

 

	1.4	“Effective
    Date” means February 19, 2021.
	 	 
	 1.5	“Entity”
    means a corporation, an association, a joint venture, a partnership, a trust, a business, an institution, an individual, a
    government or political subdivision thereof, including an agency or any other organization that can exercise independent legal
    standing.
	 	 
	 1.6	“Fair
    Market Value” means the cash consideration which Licensee would realize from an unaffiliated, unrelated buyer
    in an arm’s length sale of an identical item sold in the same quantity, under the same terms, and at the same time and
    place.
	 	 
	 1.7	“Field
    of Use” means the use of Si3N4 (Silicon Nitride) materials for the purpose of enhancing
    the anti-viral properties of the breathing face masks and mask filters.
	 	 
	 1.8	“Insolvent”
    means being unable to meet one’s debt obligations to another Entity as such debt obligations become due and not being
    able to provide reasonable financial assurances of becoming able to meet such obligations.
	 	 
	 1.9	“Licensed
    Product” means any product, apparatus, kit, or component part thereof, or any other subject matter, the manufacture,
    design, creation, use, importation, distribution, or sale of which in the Field of Use is Covered By any claim or claims included
    within the Patent Rights.
	 	 
	 1.10	“Licensed
    Method” means any method, procedure, process, or other subject matter, the practice, manufacture, use, or sale
    of which in the Field of Use is Covered By any claim or claims included within the Patent Rights.
	 	 
	1.11	“Net
    Sales” means the gross revenue and other consideration paid or given to Licensee for Licensed Products and/or
    Licensed Methods which are sold, leased, or otherwise commercialized by or for Licensee; less the following deductions, directly
    attributable to the sale of such Licensed Product and/or Licensed Method and specifically identified on the invoice, and borne
    by the seller to the extent they are included in such gross revenue or other consideration:
    normal or customary trade, cash and/or quantity discounts actually granted to purchases of a Licensed Product and/or Licensed
    Method; allowances or credits to third parties for rejections or returns; excise taxes, tariffs and duties applicable to sales
    of Licensed Product in finished package form that the Licensee has to pay on such sales; and, outbound transportation charges
    prepaid or allowed.

 

A
Licensed Product and/or Licensed Method shall be considered sold when it is shipped, delivered,
or invoiced, whichever is earlier. No deductions shall be made from Net Sales for commission paid to individuals whether
they are with independent sales agencies or are regularly employed by Licensee and are on its or their payroll, or for the cost
of collections. In the event Licensee transfers a Licensed Product to and/or transfers
or performs a Licensed Method for a third party in a bona fide arm’s length transaction, for consideration, in whole or
in part, other than cash, then the Net Sales price for such Licensed Product and/or Licensed Method shall be deemed to be the
standard invoice price then being invoiced by Licensee in an arm’s length transaction with similar companies and
in the absence of such standard invoice price, then the reasonable Fair Market Value of the Licensed Product and/or Licensed
Method. Components of Net Sales shall be determined in the ordinary course of business using the accrual method of accounting
in accordance with generally accepted accounting practices.

 

If
Licensee sells, leases, or otherwise commercializes any Licensed Product and/or Licensed Method at a reduced fee or price for
the purpose of promoting other products, goods or services or for the purpose of facilitating the sale, license or lease of other
products, goods or services, then Licensee shall pay to Licensor a royalty under Article 4 based upon the Fair Market Value of
the License Product and/or Licensed Method.

 

    	4

    	 

    

 

	1.12	“Patent
    Rights” means and includes all of the following Licensor intellectual property: (a) the United States patents
    and/or patent applications listed in Exhibit A; (b) United States patents issued from the applications listed
    in Exhibit A and from divisionals, continuations, and continuations-in-part, of these applications and any reissues
    of such United States patents; (c) claims of continuation-in-part applications and patents directed to subject matter specifically
    described in the patent(s) and/or patent application(s) listed in Exhibit A; and (d) claims of all foreign applications
    and patents which are directed to subject matter specifically described in the United States patents and/or patent applications
    listed in Exhibit A.
	 	 
	1.13	“Term
    Year 1” means a twelve (12) month period beginning on the first day of the Commencement Date (as that term is
    defined in Section 4.3) and the successive twelve (12) month period thereafter.
	 	 
	1.14	“Term
    Year 2” means a twelve (12) month period beginning on the first day immediately following the end of Term Year
    1 and the successive twelve (12) month period thereafter.
	 	 
	1.15	“Territory”
    means Worldwide.

 

ARTICLE
2. LICENSE GRANT

 

	2.1	Exclusive
    Grant 

 

Subject
to the terms and conditions set forth herein, and, for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by Licensor, Licensor hereby grants to Licensee a royalty-bearing exclusive license to make, have made,
use, and sell any Licensed Product and to practice any Licensed Method in the Field of Use under Licensor’s Patent Rights
throughout the Territory. This grant is subject to the payment by Licensee to Licensor of all consideration required under this
Agreement and is further subject to rights retained by Licensor to publish the general scientific findings from research conducted
in whole or in part by Licensor related to the Patent Rights.

 

	2.2	Affiliates

 

Licensee
shall not extend the license granted herein to any Affiliate.

 

	2.3	Sublicensing
    

 

Licensee
shall not have the right to grant sublicenses of the licenses granted under this Agreement.

 

ARTICLE
3. TERM OF AGREEMENT

 

This
Agreement shall be in full force and effect from the Effective Date for the period commencing on the Effective Date and ending
on February 18, 2023 (the “Term”). The Term can be extended in writing through mutual agreement by the
Parties.

 

    	5

    	 

    

 

ARTICLE
4. FEES & ROYALTIES

 

	4.1	License
    Issue Fee. As consideration for the license to Patent Rights and timely performance of its obligations set forth herein,
    Licensee shall pay to Licensor a license issue fee of [***] (“License Issue Fee”). The License Issue
    Fee shall be due and payable in accordance with the following terms:

 

	 	a.	$[***]
    shall be paid by Licensor to Licensee upon the execution by each Party of this License Agreement (“License Issue
    Partial Payment”);
	 	 	 
	 	b.	$[***]
    shall be paid by Licensor to Licensee through a percentage-based royalty fee payment schedule as follows: Effective as of
    the Commencement Date (as that term is defined in Section 4.3), Licensor shall pay Licensee a royalty fee equal to [***] percent
    ([***]%) of the quarterly Net Sales of the Licensed Product and Licensed Methods (“License Issue Royalty Payment”)
    until such time as the License Issue Royalty Payments have resulted in the complete satisfaction of the License Issue Fee.

 

	4.2	Running
    Royalty. As consideration for the license to Patent Rights under this Agreement, Licensee shall commence payments to Licensor
    of a percentage-based royalty fee of [***] percent ([***]%) of the quarterly Net Sales of the Licensed Products and Licensed
    Methods (“Running Royalty”) effective as of, and no earlier than, the Commencement Date. The Running
    Royalty shall be due and payable within (thirty) 30 days from the end of the calendar quarter in which such Net Sales occurred.
    To remove any ambiguity, payments owed by Licensee to Licensor for the Running Royalty shall be deemed separate, apart, and
    in addition to the License Issue Royalty Payment described in Section 4.1(b).
	 	 
	4.3	Commencement
    Date. The date by when the payment schedules for the License Issue Royalty Payment and Running Royalty will go into effect
    shall be the same date by when the Licensed Products and Licensed Methods become available to sell, either based on an in-hand
    purchase order or the physical placement of salable Licensed Products in Licensee’s warehouse, whichever comes first
    (“Commencement Date”). For example, if the Licensed Products and Licensed Methods become available
    to sell on April 1, 2021, the Commencement Date by when the payment schedules commence for the License Issue Royalty Payment
    and Running Royalty will be April 1, 2021.

 

Licensor
shall fully credit each payment of Running Royalty against any earned quarterly Running Royalty paid by Licensee with respect
to the year in which the Running Royalty is due. If the Running Royalty for a particular year is greater than the total actual
earned Running Royalties paid for the year, then Licensor shall pay Licensee the difference within forty-five (45) days of year
end.

 

	4.4	Invalidity
    of Patent. If any patent or any claim thereof included within Licensor’s Patent Rights shall be found invalid by
    a court of competent jurisdiction and last resort, from which decision no appeal may be taken, Licensee’s obligation
    to pay Licensor royalties based on such patent or claim or any claim patentably indistinct therefrom shall cease as of the
    date of such decision. Licensee shall not, however, be relieved from paying Licensor any royalties, fees, expenses, or other
    liabilities that accrued prior to the date of such decision or that are based on any of Licensor’s Patent Rights not
    the subject of such decision.

 

    	6

    	 

    

 

ARTICLE
5. COMMERCIAL DILIGENCE & MILESTONES

 

	5.1	Commercial
    Diligence. Upon execution of this Agreement, Licensee shall diligently proceed with Commercially Diligent Efforts to develop,
    manufacture, practice, sell, and use the Licensed Products and/or Licensed Methods within the Field of Use in order to make
    them readily available to the general public as soon as possible on commercially reasonable terms. Licensee shall continue
    active, Commercially Diligent Efforts for one or more Licensed Products and/or Licensed Methods within the Field of Use throughout
    the term of this Agreement (“Actively Commercializing”). In addition, Licensee shall perform at
    least the following obligations as part of its due diligence activities hereunder:

 

	 	a.	Licensee
    shall exercise Commercially Diligent Efforts to develop an anti-viral mask by March 31, 2021.
	 	 	 
	 	b.	Licensee
    shall achieve a minimum amount of Net Sales for each year as provided below:

 

i.
       Term Year 1: $[***]

 

ii.       Term
Year 2: $[***]

 

	5.2	Extension
    of Due Diligence Milestones. If, despite using Commercially Diligent Efforts, Licensee is unable to meet any of the foregoing
    due diligence milestones, Licensor agrees to grant to Licensee, upon Licensee’s request a three-month extension of time
    to meet any missed milestone. Licensor has the option, but no obligation, to grant Licensee more than one (1) three-month
    extension.

 

ARTICLE
6. [RESERVED]

 

ARTICLE
7. MATERIAL SUPPLY AND CONFIDENTIALITY

 

	7.1	Confidentiality.
    Licensee and Licensor acknowledge that either Party may provide certain information to the other regarding the Combined
    Inventions that is considered to be confidential. Licensee and Licensor shall take all reasonable precautions to protect such
    confidential information. Such precautions shall involve at least the same degree of care and precaution that the recipient
    customarily uses to protect its own confidential information, but in no circumstance less than reasonable care.
	 	 
	7.2	Material
    Supply. Licensor agrees to supply to Licensee, Licensee’s commercially reasonable requirements of Licensor’s
    sintered silicon nitride powder (the “Material”). The initial purchase price for the Material will be $[***] per
    kilogram of Material. Licensor agrees to exercise commercially reasonable efforts to manufacture the Material more efficiently
    and to pass on any savings to Licensee.
	 	 
	7.3	Supply
    Agreement. The Parties agree to enter into a commercially standard supply agreement (“Supply Agreement”)
    within 30 days of execution of this Agreement. The Supply Agreement will address, among other things, reasonable forecasting
    requirements and commitments, requirements, and specifications relating to the delivery of the Material, shipping requirements,
    product acceptance, rejection and returns, recalls, quality control and assurance, regulatory matters, returns, liability,
    indemnification, and other topics addressed in industry standard supply agreements for comparable types of products to be
    used in the medical industry.

 

    	7

    	 

    

 

ARTICLE
8. ROYALTY REPORTS

 

	8.1	Annual
    and Quarterly Royalty Report. Within thirty (30) days after the calendar year in which Net Sales first occur, and within
    thirty (30) days after each calendar quarter thereafter, Licensee shall provide Licensor with a written report detailing all
    sales and uses, if any, made of Licensed Products and/or Licensed Methods during the preceding calendar quarter, and detailing
    the amount of Net Sales made during such quarter and calculating the royalties due to Licensor pursuant to Article 4 hereof
    (“Royalty Report”). Each Royalty Report shall include, at minimum, the following information and
    data:

 

	 	a.	number
    or volume of Licensed Products manufactured, leased, and sold by and/or for Licensee;
	 	 	 
	 	b.	accounting
    for all Licensed Methods used or sold by and/or for Licensee:
	 	 	 
	 	c.	accounting
    for Net Sales, noting the deductions applicable as provided in Section 1.11;
	 	 	 
	 	d.	total
    royalties owed to Licensor pursuant to Article 4 of this Agreement.

 

Each
Royalty Report shall be signed by an officer of Licensee (or the officer’s authorized designee). With each such report submitted,
Licensee shall pay to Licensor the royalties and fees due and payable under this Agreement. If no royalties shall be due, Licensee
shall so report. Licensee’s failure to submit a royalty report in the required form will, constitute a breach of this Agreement.
Licensee will continue to deliver royalty reports to Licensor after the termination or expiration of this Agreement until such
time as all Licensed Product(s) and/or Licensed Method(s) permitted to be sold after termination have been sold or destroyed.

 

	8.2	Progress
    Report and Commercialization Plan. Commencing on December 31, 2021, and on each one-year anniversary thereafter, Licensee
    shall submit to Licensor a written report covering Licensee’s progress in (a) development and testing of all Licensed
    Products and Licensed Methods (from information and data reasonably available to Licensee), (b) achieving the due diligence
    milestones specified herein and (c) preparing, filing, and obtaining of any approvals necessary for marketing the Licensed
    Products and Licensed Methods.

 

ARTICLE
9. PAYMENTS, RECORDS AND AUDITS

 

	9.1	Payments.
    Licensee shall pay all licensee fees, royalties and minimum annual royalties accruing to Licensor in U.S. Dollars, without
    deduction of exchange, collection, wiring fees, bank fees, or any other charges. Unless otherwise provided for, such payments
    are due within thirty (30) days. All payments to Licensor will be made in United States Dollars by wire transfer.

 

For
converting any Net Sales made in a currency other than United States Dollars, the Parties will use the conversion rate published
in the Wall Street Journal/Telegraphic Transfer Selling conversion rate reported by the Sumitomo Bank, Tokyo, or other
industry standard conversion rate approved in writing by Licensor for the last day of the calendar quarter for which such royalty
payment is due or, if the last day is not a business day, the closest preceding business day.

 

	9.2	Late
    Payments. In the event royalty payments or other fees are not received by Licensor when due hereunder, Licensee shall
    pay to Licensor interest charges at the rate of eighteen percent (18%) per annum on the total royalties or fees due for the
    reporting period.

 

    	8

    	 

    

 

	9.3	Records.
    Licensee shall keep complete, true, and accurate records and books containing all particulars that may be necessary for
    the purpose of showing the amounts payable to Licensor hereunder. Records and books shall be kept at Licensee’s principal
    place of business or the principal place of business of the appropriate division of Licensee to which this Agreement relates.

 

	9.4	Audit.
    Such books and the supporting data shall be open to inspection by Licensor or its agents once per calendar year, upon
    reasonable prior notice to Licensee, during regular business hours for a term of five (5) years following the end of the calendar
    year to which they pertain for the purpose of verifying Licensee’s royalty statement or compliance in other respects
    with this Agreement. Such access will be available to Licensor upon not less than ten (10) business days written notice to
    Licensee, not more than once each calendar year of the Term, during normal business hours, and once a year for three (3) years
    after the expiration or termination of this Agreement. Should such inspection lead to the discovery of a greater than five
    percent (5%) or twenty thousand dollars ($20,000) discrepancy in reporting to Licensor’s detriment, Licensee agrees
    to pay the full cost of such inspection. Whenever Licensee has its books and records audited by an independent certified public
    accountant, Licensee will, within thirty (30) days of the conclusion of such audit, provide Licensor with a written statement,
    certified by said auditor, setting forth the calculation of royalties due to Licensor over the time period audited as determined
    from the books and records of Licensee.

 

ARTICLE
10. PATENT PROSECUTION AND MAINTENANCE

 

Licensor
shall be responsible for the prosecution and maintenance of the Patent Rights.

 

ARTICLE
11. PATENT MARKING

 

Licensee
shall permanently and legibly mark all Licensed Products made, used, or sold under the terms of this Agreement, or their containers,
in accordance with all applicable patent-marking and notice provisions under Title 35, United States Code or other law or regulation
of the applicable jurisdiction where Licensed Products or sold.

 

ARTICLE
12. TERMINATION BY LICENSOR

 

	12.1	If
    Licensee should: (a) fail to deliver to Licensor any statement or report required hereunder when due; (b) fail to make any
    payment at the time that the same should be due; (c) violate or fail to perform any material covenant, condition, or undertaking
    of this Agreement to be performed by it hereunder; (d) cease Commercially Diligent Efforts to commercialize a Licensed Product(s);
    (e) file a bankruptcy action, or have a bankruptcy action against it, or become Insolvent; or (f) enter into a composition
    with creditors, or have a receiver appointed for it; then Licensor may give written notice of such default to Licensee. If
    Licensee should fail to cure such default within ninety (90) days of such notice, the rights, privileges, and license granted
    hereunder shall automatically terminate.
	 	 
	12.2	If
    Licensee shall cease to carry on its business with respect to the rights granted in this Agreement, this Agreement shall terminate
    upon thirty (30) days written notice by Licensor.
	 	 
	12.3	No
    termination of this Agreement by Licensor shall relieve Licensee of its obligation to pay any monetary obligation due or owing
    at the time of such termination and shall not impair any accrued right of Licensor. Articles 7,
    9, 14, 20, 21, 23, 25, 26, and Section 12.3, 15.2, 15.3, and 27.8 hereof shall survive any termination of this Agreement.

 

    	9

    	 

    

 

ARTICLE
13. TERMINATION BY LICENSEE

 

	13.1	Licensee
    may terminate this Agreement, in whole or as to any specified patent, at any time and from time to time without cause, by
    giving written notice thereof to Licensor. Such termination shall be effective one hundred twenty (120) days after such notice
    and all Licensee’s rights associated therewith shall cease as of that date.
	 	 
	13.2	Any
    termination pursuant to Section 13.1 hereof shall not relieve Licensee of any obligation or liability accrued hereunder prior
    to such termination, or rescind or give rise to any right to rescind any payments made or other consideration given to Licensor
    hereunder prior to the time such termination becomes effective. Such termination shall not affect in any manner any rights
    of Licensor arising under this Agreement prior to the date of such termination.

 

ARTICLE
14. DISPOSITION OF LICENSED PRODUCTS ON HAND

 

Upon
expiration or termination of this Agreement by either Party, Licensee shall provide Licensor with a written inventory of all Licensed
Products in process of manufacture, in use or in stock. Licensee may dispose of any such Licensed Products within the ninety (90)
day period following such expiration or termination, provided, however, that Licensee shall pay royalties and render reports to
Licensor thereon in the manner specified herein.

 

ARTICLE
15. WARRANTY BY LICENSOR

 

	15.1	Licensor
    warrants that it has the lawful right to grant the licenses set forth in this Agreement.
	 	 
	15.2	EXCEPT
    AS EXPRESSLY PROVIDED IN SECTION 15.1, THE PARTIES ACKNOWLEDGE AND AGREE THAT LICENSOR HAS MADE NO REPRESENTATIONS OR WARRANTIES,
    EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. IN NO
    EVENT SHALL LICENSOR BE HELD RESPONSIBLE FOR ANY SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES ARISING OUT OF THE USE OF PATENT
    RIGHTS, EVEN IF LICENSOR IS ADVISED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES.

 

	15.3	Nothing
    in this Agreement shall be construed as:

 

	 	a.	a
    warranty or representation by Licensor as to the validity or scope of any Patent Rights;
	 	 	 
	 	b.	a
    warranty or representation by Licensor that anything made, used, sold or otherwise disposed of pursuant to any license granted
    under this Agreement is or will be free from infringement of intellectual property rights of third parties;
	 	 	 
	 	c.	an
    obligation by Licensor to bring or prosecute actions or suits against third parties for patent infringement, except as expressly
    provided in Article 16 hereof; or
	 	 	 
	 	d.	conferring
    by implication, estoppel, or otherwise any license or rights under any patents of Licensor other than Patent Rights.

 

    	10

    	 

    

 

	15.4	Any
    breach of the representations or warranties made in this Article 15 shall entitle Licensee to a refund of all payments made
    to Licensor as consideration for the rights granted under this Agreement, and said refund shall be the sole remedy available
    to Licensee for breach or violation of any provisions contained in this Article.

 

ARTICLE
16. INFRINGEMENT

 

	16.1	Claims
    of Infringement Against Licensee. If any third-party claims infringement or misappropriation against Licensee as a result
    of such party’s use of the Patent Rights, then Licensee shall promptly notify Licensor thereof in writing, setting forth
    the facts of such claim in reasonable detail. As between the Parties to this Agreement, Licensee shall have the first and
    primary right and responsibility at its own expense to defend and control the defense of any such claim against Licensee,
    by counsel of its own choosing. Licensee shall be free to enter into a settlement, consent judgment, or other voluntary disposition
    of any such claim, provided that any settlement, consent judgment or other voluntary disposition of any such claim which (i)
    materially limits the scope, validity, or enforceability of any portion of the Patent Rights or (ii) admits fault or wrongdoing
    on the part of Licensor must be approved by Licensor, in its sole discretion, not to be unreasonably withheld. Licensee’s
    request for such approval shall include complete copies of final settlement documents, a detailed summary of such settlement,
    and any other information material to such settlement. Licensor shall provide Licensee notice of its approval or denial within
    fifteen (15) business days of any request for such approval by Licensee, provided that (i) in the event Licensor wishes to
    deny such approval, such notice shall include a written description of Licensor’s reasonable objections to the proposed
    settlement, consent judgment or other voluntary disposition and (ii) Licensor shall be deemed to have approved of such proposed
    settlement, consent judgment or other voluntary disposition in the event it fails to provide such notice within such fifteen
    (15) day period in accordance herewith. Any amounts paid to any third party as damages or other compensation with respect
    to infringement of a third party’s rights shall be treated as third party royalties that Licensee shall be entitled
    to deduct an amount equal to fifty percent (50%) of any royalties due Licensor hereunder, provided that in no event shall
    the royalties due hereunder be less than fifty percent (50%) of the royalties that would be payable to Licensor absent the
    effects of this section 16.1.

 

	16.2	Infringement
    of Patent Rights by Third Parties.

 

	 	a.	If
    either Party learns of a claim of infringement of any of Licensor’s Patent Rights licensed under this Agreement, that
    Party shall give written notice of such claim to the other Party. Licensee shall then use Commercially Diligent Efforts to
    terminate such infringement. In the event Licensee fails to abate the infringing activity within ninety (90) days after such
    written notice or to bring legal action against the third party, Licensor may bring suit for patent infringement. No settlement,
    consent judgment, or other voluntary final disposition of the suit may be entered into without the consent of Licensor, which
    consent shall not be unreasonably withheld.
	 	 	 
	 	b.	Any
    such legal action shall be at the expense of the Party by whom suit is filed, hereinafter referred to as the “Litigating
    Party”. Any damages or costs recovered by the Litigating Party in connection with a legal action filed by it
    hereunder, shall first go to Litigating Party to reimburse it for costs and expenses (including legal fees) incurred in bringing
    such action and then to the non-Litigating Party to reimburse it for its costs, if any, incurred in supporting such legal
    action. Direct damages shall be treated as Net Sales and subject to royalties or other payments due to Licensor under Article
    4. Willful or treble damages shall be split seventy percent (70%) to the Litigating Party and thirty percent (30%) to the
    non-Litigating Party.
	 	 	 
	 	c.	Licensee
    and Licensor shall cooperate with each other in litigation proceedings instituted hereunder, provided that such cooperation
    shall be at the expense of the Litigating Party, and such litigation shall be controlled by the Litigating Party.

 

    	11

    	 

    

 

ARTICLE
17. INSURANCE

 

	17.1	Insurance
    Requirements. Beginning at the time any Licensed Product and/or Licensed Method is being distributed or sold (including
    for the purpose of obtaining any required regulatory approvals) by Licensee, Licensee will, at its sole cost and expense,
    procure, and maintain commercial general liability insurance issued by an insurance carrier with an A.M. Best rating of “A”
    or better in such amounts as are customary in the industry for products of the type to be commercialized by Licensee.
	 	 
	17.2	Evidence
    of Insurance and Notice of Changes. Licensee will provide Licensor with written evidence of such insurance upon request
    by Licensor. Licensee will provide Licensor with written notice of at least thirty (30) days prior to the cancellation, non-renewal,
    or material change in such insurance.
	 	 
	17.3	Continuing
    Insurance Obligations. Licensee will maintain such commercial general liability insurance beyond the expiration or termination
    of this Agreement during (i) the period that any Licensed Product(s) and/or Licensed Service(s) developed pursuant to this
    Agreement is being commercially distributed or sold by Licensee; and (ii) for five (5) years after such period.

 

ARTICLE
18. WAIVER

 

No
waiver by either Party hereto of any breach or default of any of the covenants or agreements herein set forth shall be deemed
a waiver as to any subsequent and/or similar breach or default.

 

ARTICLE
19. ASSIGNABILITY

 

This
Agreement is not assignable or otherwise transferable (including by operation of law, merger, or other business combination) by
Licensee without the prior written consent of Licensor. The failure of Licensee to comply with the terms of this paragraph shall
be grounds for termination of the Agreement by Licensor under Article 12. In the event that written consent is provided by Licensor,
Licensee will pay to Licensor a non-refundable fee of fifty thousand dollars ($50,000.00).

 

ARTICLE
20. INDEMNIFICATION BY LICENSEE

 

LICENSEE
SHALL INDEMNIFY, HOLD HARMLESS AND DEFEND LICENSOR AND ITS RESPECTIVE OFFICERS, DIRECTORS, TRUSTEES, EMPLOYEES AND AGENTS (COLLECTIVELY,
“INDEMNITIES”) AGAINST ANY AND ALL CLAIMS, SUITS, LOSSES, DAMAGES, COSTS, LIABILITIES, FEES AND EXPENSES (INCLUDING
REASONABLE FEES OF ATTORNEYS) (COLLECTIVELY, “CLAIMS”) BASED ON, RESULTING FROM OR ARISING OUT OF: (I) THE EXERCISE
OF ANY LICENSE GRANTED UNDER THIS AGREEMENT, WHETHER BY LICENSEE,; OR (II) ANY ACT, ERROR, OR OMISSION OF LICENSEE, OR ANY OF
THE OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS OF THE FOREGOING, INCLUDING WITHOUT LIMITATION ANY BREACH OF THIS AGREEMENT, ANY
CLAIM OF NEGLIGENT ACTS OR OMISSIONS OR MISCONDUCT, AND ANY PRODUCT LIABILITY CLAIM, ANY ASSERTED OR ESTABLISHED VIOLATION OF
APPLICABLE LAW, REGULATION, RULE OR ORDER, AND ANY CLAIM OF INFRINGEMENT OF A THIRD PARTY’S INTELLECTUAL PROPERTY RIGHTS;
EXCEPT TO THE EXTENT SUCH CLAIMS RESULT SOLELY FROM GROSSLY NEGLIGENT ACTS OR OMISSIONS, OR WILLFUL MISCONDUCT OF AN INDEMNITEE.
LICENSEE SHALL GIVE LICENSOR TIMELY NOTICE OF ANY CLAIM OR SUIT INSTITUTED OF WHICH LICENSEE HAS KNOWLEDGE THAT IN ANY WAY, DIRECTLY
OR INDIRECTLY, AFFECTS OR MIGHT AFFECT LICENSOR, AND LICENSOR SHALL HAVE THE RIGHT AT ITS OWN EXPENSE TO PARTICIPATE IN THE DEFENSE
OF THE SAME.

 

    	12

    	 

    

 

ARTICLE
21. NOTICES

 

Any
payment, notice or other communication required or permitted to be given to either Party hereto shall be in writing and shall
be deemed to have been properly given and effective: (a) on the date of delivery if delivered in person during recipient’s
normal business hours; or (b) on the date of attempted delivery if delivered by courier, express mail service or first-class mail,
registered or certified. Such notice shall be sent or delivered to the respective addresses given below, or to such other address
as either Party shall designate by written notice given to the other Party as follows:

 

In
the case of Licensor:

 

	 	SINTX
    Technologies, Inc.
	 	1885
    West 2100 South
	 	Salt
    Lake City, Utah 84119
	 	Attn:
    David O’Brien, COO

 

In
the case of Licensee:

 

	 	O2
    DESIGN, INC.
	 	2940
    S 300 W
	 	Suite
    F
	 	South
    Salt Lake City, UT 84115
	 	Attn:
    Bruce Lorange, CEO

 

ARTICLE
22. REGULATORY COMPLIANCE

 

	22.1	When
    required by local/national law, Licensee shall register this Agreement, pay all costs and legal fees connected therewith,
    and otherwise ensure that the local/national laws affecting this Agreement are fully satisfied.
	 	 
	22.2	Licensee
    shall comply with all applicable U.S. laws dealing with the export and/or management of technology or information. Licensee
    understands that the Arms Export Control Act (AECA), including its implementing International Traffic In Arms Regulations
    (ITAR,) and the Export Administration Act (EAA), including its Export Administration Regulations (EAR), are some (but not
    all) of the laws and regulations that comprise the U.S. export laws and regulations. Licensee further understands that the
    U.S. export laws and regulations include (but are not limited to): (1) ITAR and EAR product/service/data-specific requirements;
    (2) ITAR and EAR ultimate destination-specific requirements; (3) ITAR and EAR end user-specific requirements; (4) ITAR and
    EAR end use-specific requirements; (5) Foreign Corrupt Practices Act; and (6) anti-boycott laws and regulations. Licensee
    will comply with all then-current applicable export laws and regulations of the U.S. Government (and other applicable U.S.
    laws and regulations) pertaining to the Licensed Product(s) and/or Licensed Method(s) (including any associated products,
    items, articles, computer software, media, services, technical data, and other information). Licensee certifies that it will
    not, directly or indirectly, export (including any deemed export), nor re-export (including any deemed re-export) the Licensed
    Product(s) and/or Licensed Method(s) (including any associated products, items, articles, computer software, media, services,
    technical data, and other information) in violation of U.S. export laws and regulations or other applicable U.S. laws and
    regulations.

 

    	13

    	 

    

 

ARTICLE
23. GOVERNING LAW

 

This
Agreement shall be interpreted and construed in accordance with the laws of the State of Utah, without application of any principles
of choice of laws.

 

ARTICLE
24. RELATIONSHIP OF PARTIES

 

In
assuming and performing the respective obligations under this Agreement, Licensee and Licensor are each acting as independent
parties, and neither shall be considered or represent itself as a joint venture, partner, agent or employee of the other.

 

ARTICLE
25. USE OF NAMES

 

	25.1	By
    Licensee. Licensee may use the name “SINTX Technologies” in factually based materials related to the Licensed
    Products and/or Licensed Method(s) and the business of the Licensee. All such uses shall require prior consent from Licensor.
	 	 
	25.2	By
    Licensor. Licensor may use Licensee’s name in connection with Licensor’s publicity related to Licensor’s
    intellectual property and commercialization achievements.

 

ARTICLE
26. DISPUTE RESOLUTION

 

Except
for the right of either Party to apply to a court of competent jurisdiction for a temporary restraining order, a preliminary injunction,
or other equitable relief to preserve the status quo or prevent irreparable harm, any and all claims, disputes or controversies
arising under, out of, or in connection with the Agreement, including but not limited to any dispute relating to patent validity
or infringement, which the Parties shall be unable to resolve within sixty (60) days shall be mediated in good faith. The Party
raising such dispute shall promptly advise the other Party of such dispute. By not later than five (5) business days after the
recipient has received such notice of dispute, each Party shall have selected for itself a representative who shall have the authority
to bind such Party and shall additionally have advised the other Party in writing of the name and title of such representative.
By not later than ten (10) days after the date of such notice of dispute, the Party against whom the dispute shall be raised shall
select a mediator in the Salt Lake City area and such representatives shall schedule a date with such mediator for a hearing.
The Parties shall enter into good faith mediation and shall share the costs equally. If the representatives of the Parties have
not been able to resolve the dispute within fifteen (15) business days after such mediation hearing, then any and all claims,
disputes or controversies arising under, out of, or in connection with this Agreement, including any dispute relating to patent
validity or infringement, shall be resolved through arbitration if the Parties mutually consent, or through any judicial proceeding
either in the courts of the State of Utah or in the United States District Court for the District of Utah, to whose jurisdiction
for such purposes Licensee and Licensor each hereby irrevocably consents and submits. All costs and expenses, including reasonable
attorneys’ fees, of the prevailing Party in connection with resolution of a dispute by arbitration or litigation of such
controversy or claim shall be borne by the other Party.

 

    	14

    	 

    

 

ARTICLE
27. GENERAL PROVISIONS

 

	27.1	Headings.
    The headings and captions appearing in this Agreement have been inserted for the purposes of convenience and ready reference
    only and do not purport to and shall not be deemed to define, limit, or extend the scope or intent of the provisions to which
    they appertain.
	 	 
	27.2	Signatures
    Required. This Agreement shall not be binding upon the Parties until it has been signed below by or on behalf of each
    Party.
	 	 
	27.3	Modification
    or Amendment. No modification to, amendment of, or other change in this Agreement shall be valid or binding upon the Parties
    unless it is made in writing and signed by authorized representatives of both Parties.
	 	 
	27.4	Complete
    Agreement. This Agreement embodies the entire understanding of the parties and supersedes all previous communications,
    representations or understandings, either oral or written, between the parties relating to the subject matter thereof.
	 	 
	27.5	Severability.
    If any provision of this Agreement or the application of such provision to any Person or circumstance shall be held invalid,
    the remainder of this Agreement or the application of such provision to Persons or circumstances other than those to which
    it is held invalid shall not be affected thereby.
	 	 
	27.6	Counterparts.
    This Agreement may be signed in counterparts, each of which when taken together shall constitute one fully executed document.
    Each individual executing this Agreement on behalf of a legal Entity does hereby represent and warrant to each other person
    so signing that he or she has been duly authorized to execute this Agreement on behalf of such Entity.
	 	 
	27.7	Force
    Majeure. Any delays in or failure of performance hereunder shall not constitute a default hereunder if and to the extent
    such delay or failure of performance is caused by occurrences beyond the reasonable control of Licensee, including acts of
    God or the public enemy; compliance with any order or request of any governmental authority, law, regulation, or ordinance;
    pandemic; acts of war; riots or strikes or other concerted acts of personnel; or any other causes beyond the reasonable control
    of Licensee, whether or not of the same class or kind as those specifically identified above; provided that Licensee must
    promptly notify Licensor in writing and furnish all relevant information concerning the event of force majeure; use reasonable
    efforts to avoid or remove the cause of its nonperformance; and proceed to perform its obligations with dispatch when such
    cause is removed.
	 	 
	27.8	Attorneys’
    Fees. In the event of any litigation, arbitration, enforcement, judicial reference, or other legal proceeding involving
    the Parties to this Agreement to enforce any provision of this Agreement, to enforce any remedy available upon default under
    this Agreement, or seeking a declaration of the rights of either Party under this Agreement, the prevailing Party shall be
    entitled to recover from the other such attorneys’ fees and costs as may be reasonably incurred, including the costs
    of reasonable investigation, preparation and professional or expert consultation incurred by reason of such litigation, arbitration,
    judicial reference, or other legal proceeding.
	 	 
	27.9	Non-Disclosure.
    Except as required by law, neither Party may disclose the financial terms of this Agreement without the prior written
    consent of the other Party, provided that Licensor may disclose such terms as required by the laws, rules, and regulations
    of the United States Securities and Exchange Commission.

 

    	15

    	 

    

 

IN
WITNESS WHEREOF, Licensor and Licensee have executed this Agreement by their respective officers hereunto duly authorized, on
the day and year first above written.

 

	 	O2
    DESIGN, INC.,
	 	a
    Utah corporation
	 	 	 
	 	By:	/s/
    Bruce
    Lorange                        
	 	Name:	Bruce
    Lorange
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	“Licensee”

 

	 	SINTX
    TECHNOLOGIES, INC.,
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/
    B. Sonny
    Bal                                            
	 	Name:	B.
    Sonny Bal, M.D.
	 	Title:	Chief
    Executive Officer and President
	 	 	 
	 	“Licensor”

 

    	16

    	 

    

 

EXHIBIT
A: PATENT RIGHTS

 

	Ownership	 	Application
        No. /

        Date
        of Filing
	 	Title
	 

        SINTX
        Technologies, Inc.
	 	 

        US
        Publication No. 2020/00779651

        August
        26, 2019
	 	 

        Antipathogenic
        Compositions and Methods Thereof

	 

        SINTX
        Technologies, Inc.
	 	 

        PCT
        No. WO 2020/051004 A1

        August
        26, 2019
	 	 

        Antipathogenic
        Compositions and Methods Thereof

 

    	17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]