Document:

Exhibit 10.1

 

Execution Version

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (the "Agreement"),
is effective as of the 4th day of February 2020, by and between Teligent, Inc., having an address at 105 Lincoln Avenue, Buena,
New Jersey 08310 (the "Company") and Tim Sawyer, having an address at 31 Emerson Road, Larchmont, New York 10538
(the "Executive"). The Company and the Executive are collectively referred to hereinafter as the "Parties".

 

RECITALS:

 

WHEREAS, the Company desires to employ the
Executive on the terms and subject to the conditions set forth herein, and Executive is willing to accept such employment of the
terms and conditions; and

 

WHEREAS, by virtue of such employment, Executive
will have access to Proprietary Information of the Company and its subsidiaries and affiliates (the "Teligent Companies");
and

 

WHEREAS, Executive acknowledges and agrees
that the Company (on behalf of itself and the Teligent Companies) has a reasonable, necessary and legitimate business interest
in protecting its own and the Teligent Companies' Proprietary Information, client accounts, relationships with prospective clients,
goodwill and ongoing business, and that the terms and conditions set forth are reasonable and, necessary in order to protect these
legitimate business interests.

 

NOW THEREFORE, in consideration of the representations,
warranties, covenants, and agreements contained herein, and for other good and valuable consideration, the receipt and adequacy
of which are conclusively acknowledged, the Parties, intending to become legally bound, agree as follows:

 

AGREEMENT

 

1. DEFINITIONS

 

1.1. Specific Definitions. Capitalized
terms not defined elsewhere herein shall have the following meanings ascribed to them:

 

"Person" means an individual,
a partnership, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization,
a limited liability company, or a governmental entity (or any department, agency, or political subdivision thereof).

  

2. POSITION, RESPONSIBILITIES AND TERM

 

2.1. Executive's Position. On the
terms and subject to the conditions set forth in this Agreement, the Company shall employ Executive to serve as an officer of the
Company and as President and Chief Executive Officer of the Company. The Executive shall report directly to the Company's Board
of Directors (the "Board"). Executive shall perform such services in the Company's offices in Buena, New Jersey
or such other location or locations as the Executive and the Board shall agree; provided, however, that Executive will be required
to travel from time to time for business purposes.

 

2.2. Executive's Responsibilities.
The Executive shall perform all duties customarily attendant to the position and shall perform such services and duties commensurate
with such position as may from time to time be reasonably prescribed by the Board.

 

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2.3. No Conflicts of Interest. Executive
further agrees that throughout the period of his employment hereunder, he will not perform any activities or services, or accept
such other employment which would be inconsistent with this Agreement, the employment relationship between the Parties, or would
interfere with or present a conflict of interest concerning Executive's employment with the Company; provided, that Executive shall
be permitted to serve on the boards of directors of such other companies as the Board shall approve and that Executive may make
personal investments and may act as a director and engage in other activities for any charitable, educational, or other nonprofit
institution, as long as such investments and activities do not materially interfere with the performance of Executive's duties
hereunder. Executive agrees to adhere to and comply with any and all business practices and requirements of ethical conduct set
forth in writing from time to time by the Company in its employee manual or similar publication.

 

2.4.
Term. This Agreement shall become effective on February 4, 2020 (the "Effective Date") and will govern
Executive's employment by the Company until that employment ceases (such period of Executive's employment is herein referred to
as the "Term").

 

3. ACCEPTANCE

 

Executive hereby accepts such employment
and agrees that throughout the Term, Executive will devote his full business time, attention, knowledge and skills faithfully,
diligently and to the best of his ability, in the furtherance of the business of the Teligent Companies.

 

4. COMPENSATION

 

4.1. Base Salary. The Executive shall
receive an initial annual salary of Four Hundred and Eighty Thousand ($480,000) Dollars (the "Base Salary") paid
in accordance with the Company's payroll practices, as in effect from time to time. The Base Salary shall be reviewed on an annual
basis by the Company and may be increased (but not decreased) from time to time by the Company.

 

4.2. Benefits. In addition to such
compensation, Executive shall be entitled to the benefits which are afforded generally, from time to time to similarly situated
executive employees of the Teligent Companies. Notwithstanding the foregoing, nothing contained in this Agreement shall require
the Teligent Companies to establish, maintain or continue any of the group benefits plans already in existence or hereafter adopted
for the employees of the Teligent Companies, or restrict the right of the Teligent Companies to amend, modify or terminate such
group benefit plans in a manner which does not discriminate against Executive as compared to other executive employees of Teligent
Companies.

 

4.3. Paid Time Off. Executive shall
be entitled to 20 business days of paid time off (consisting of vacation and personal days), and shall be entitled to sick days
and holidays as are provided in general to similarly situated employees of the Teligent Companies, in accordance with usual practices
and procedures. Paid time off shall stop accruing once Executive has accumulated and not used the number of days to which he is
entitled to in a year.

 

4.4. Annual Performance Bonuses.

 

(a)  
The Executive shall be eligible to receive an annual performance bonus (the "Annual Bonus") for each calendar
year during the Term (each a "Fiscal Year"), which shall be paid in cash not later than 75 days after the end
of such Fiscal Year; provided, however, that the Executive must be employed by the Company on December 31 of a Fiscal Year in order
to be eligible for an Annual Bonus under this Section 4.4 for such Fiscal Year.

 

(b)  
The Executive's target Annual Bonus will be 85% of Executive's Base Salary then in effect for each Fiscal Year (the “Target
Bonus”). The actual amount of the Annual Bonus with respect to the 2020 calendar year, and any subsequent Fiscal Years,
will be determined by the Board or the Compensation Committee of the Board (the "Committee"), in their discretion,
with reference to the Executive's and the Employer's fulfillment of performance goals established by the Committee with respect
to the applicable Fiscal Year. For the avoidance of doubt, Executive shall be entitled to an Annual Bonus with respect to the full
2020 Fiscal Year, without pro-ration.

 

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4.5. Grants of Equity Awards.

 

(a) Equity Awards. As soon as practicable
following the Effective Date of this agreement and subject to the approval of the Board, Executive will receive the following equity
grant: a non-qualified option to purchase 1,500,000 shares of the Company's Common stock, at an exercise price equal to the closing
price of the Company's Common Stock on the date of grant (the "Option Award"), as memorialized in (and subject
to the terms of) a form of option award agreement provided by the Company (the “Option Award Agreement”). The
Option Award is intended to qualify as an “inducement grant” under the rules of the Nasdaq Stock Market.

 

(b) Vesting. Except as otherwise set
forth in Section 8 hereof and in the Option Award Agreement, the shares subject to the Option Award shall become fully vested over
a period of four years as follows: one-fourth of the shares subject to such award shall vest on each of the first, second, third
and fourth anniversaries of the Effective Date.

 

(c) Accelerated Vesting. Notwithstanding
the foregoing, immediately prior to a Change in Control (as defined in the Option Award Agreement), any shares that then remain
unvested will become vested, provided the Executive remains in continuous service with the Company through the consummation of
that Change in Control.

 

5. EXPENSES

 

The Company shall reimburse Executive, in
accordance with Company policy, for all expenses reasonably and properly incurred by Executive in connection with the performance
of Executive's duties hereunder and the conduct of the business of the Company, upon the submission to the Company (or its designee)
of appropriate vouchers therefor. In addition, the Company shall pay, directly to Executive’s counsel within fifteen (15)
days following submission of customary supporting documentation, up to $5,000 in legal fees and expenses incurred in connection
with the review, negotiation and drafting of this Agreement, the Option Award Agreement, and other related agreements and arrangements.

 

6. CONFIDENTIAL INFORMATION AND PROPERTY

 

6.1. Confidentiality. The Executive
recognizes and acknowledges that the Proprietary Information (as defined below) is a valuable, special and unique asset of the
business of the Company and its affiliates. As a result, both during the Term and thereafter, the Executive will not, without the
prior written consent of the Company, for any reason divulge to any third-party or use for his own benefit, or for any purpose
other than the exclusive benefit of the Company and its affiliates, any Proprietary Information. Notwithstanding the foregoing,
if the Executive is compelled to disclose Proprietary Information by court order or other legal or regulatory process, to the extent
permitted by applicable law, he shall promptly so notify the Company so that it may seek a protective order or other assurance
that confidential treatment of such Proprietary Information shall be afforded, and the Executive shall reasonably cooperate with
the Company and its affiliates in connection therewith. If the Executive is so obligated by court order or other legal process
to disclose Proprietary Information it will disclose only the minimum amount of such Proprietary Information as is necessary for
the Executive to comply with such court order or other legal process.

  

6.2. Property of the Company.

 

(a) Proprietary Information. All right,
title and interest in and to Proprietary Information will be and remain the sole and exclusive property of the Company and its
affiliates. The Executive will not remove from the Company's or its affiliates offices or premises any documents, records, notebooks,
files, correspondence, reports, memoranda or similar materials of or containing Proprietary Information, or other materials or
property of any kind belonging to the Company or its affiliates unless necessary or appropriate in the performance of his duties
to the Company and its affiliates. If the Executive removes such materials or property in the performance of his duties, he will
return such materials or property promptly after the removal has served its purpose. The Executive will not make, retain, remove
and/or distribute any copies of any such materials or property, or divulge to any third person the nature of and/or contents of
such materials or property, except to the extent necessary to satisfy contractual obligations of the Company or its affiliates
or to perform his duties on behalf of the Company and its affiliates. Upon termination of the Executive's employment with the Company,
he will leave with the Company and its affiliates or promptly return to the Company and its affiliates all originals and copies
of such materials or property then in his possession.

 

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(b) Intellectual Property. The Executive
agrees that all the Intellectual Property (as defined below) will be considered "works made for hire" as that term is
defined in Section 101 of the Copyright Act (17 U.S.C. § 101) and that all right, title and interest in such Intellectual
Property will be the sole and exclusive property of the Company and its affiliates. To the extent that any of the Intellectual
Property may not by law be considered a work made for hire, or to the extent that, notwithstanding the foregoing, the Executive
retains any interest in the Intellectual Property, the Executive hereby irrevocably assigns and transfers to the Company and its
affiliates any and all right, title, or interest that the Executive may now or in the future have in the Intellectual Property
under patent, copyright, trade secret, trademark or other law, in perpetuity or for the longest period otherwise permitted by law,
without the necessity of further consideration. The Company and its affiliates will be entitled to obtain and hold in its own name
all copyrights, patents, trade secrets, trademarks and other similar registrations with respect to such Intellectual Property.
The Executive further agrees to execute any and all documents and provide any further cooperation or assistance reasonably required
by the Company, at the Company's expense, to perfect, maintain or otherwise protect its rights in the Intellectual Property. If
the Company or its affiliates, as applicable, are unable after reasonable efforts to secure the Executive's signature, cooperation
or assistance in accordance with the preceding sentence, whether because of the Executive's incapacity or any other reason whatsoever,
the Executive hereby designates and appoints the Company, the appropriate affiliate, or their respective designee as the Executive's
agent and attorney-in-fact, to act on his behalf, to execute and file documents and to do all other lawfully permitted acts necessary
or desirable to perfect, maintain or otherwise protect the Company's or its affiliates' rights in the Intellectual Property. The
Executive acknowledges and agrees that such appointment is coupled with an interest and is therefore irrevocable.

 

For purposes of this Agreement, "Intellectual
Property" means (a) all inventions (whether patentable or unpatentable and whether or not reduced to practice), all improvements
thereto, and all patents and patent applications claiming such inventions, (b) all trademarks, service marks, trade dress, logos,
trade names, fictitious names, brand names, brand marks and corporate names, together with all translations, adaptations, derivations,
and combinations thereof and including all goodwill associated therewith, and all applications, registrations, and renewals in
connection therewith, (c) all copyrightable works, all copyrights, and all applications, registrations, and renewals in connection
therewith, (d) all mask works and all applications, registrations, and renewals in connection therewith, (e) all trade secrets
(including research and development, know-how, formulas, compositions, manufacturing and production processes and techniques,
methodologies, technical data, designs, drawings and specifications), (f) all computer software (including data, source and object
codes and related documentation), (g) all other proprietary rights, (h) all copies and tangible embodiments thereof (in whatever
form or medium), or (i) similar intangible personal property which have been or are developed or created in whole or in part by
the Executive (1) at any time and at any place while the Executive is employed by Company and which, in the case of any or all
of the foregoing, are related to and used in connection with the business of the Company or its affiliates, or (2) as a result
of tasks assigned to the Executive by the Company or its affiliates.

 

For purposes of this Agreement, "Proprietary
Information" means any and all proprietary information developed or acquired by the Company or any of its subsidiaries
or affiliates that has not been specifically authorized to be disclosed. Such Proprietary Information shall include, but shall
not be limited to, the following items and information relating to the following items: (a) all intellectual property and confidential
or proprietary knowledge, information or rights of the Company (including, without limitation, the Intellectual Property, trade
secrets, books and records, know-how, inventions, discoveries, processes and systems, as well as any data and records pertaining
thereto), (b) computer codes and instructions, processing systems and techniques, inputs and outputs (regardless of the media on
which stored or located) and hardware and software configurations, designs, architecture and interfaces, (c) business research,
studies, procedures and costs, (d) financial data, (e) distribution methods, (f) marketing data, methods, plans and efforts, (g)
the identities of actual and prospective customers and suppliers, (h) the terms of contracts and agreements with, the needs and
requirements of, and the Company's or its affiliates' course of dealing with, actual or prospective customers and suppliers, (i)
personnel information, (i) customer and vendor credit information, and (k) information received from third parties subject to obligations
of non-disclosure or non-use. Failure by the Company or its affiliates to mark any of the Proprietary Information as confidential
or proprietary shall not affect its status as Proprietary Information.

 

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7. NON-SOLICITATION, NON-COMPETITION 

 

Executive agrees that during the Term and
for twelve (12) months following the end of the Term, Executive will not, directly or indirectly, on behalf of himself or any Person:
(a) own any interest in, operate, join, control or participate as a partner, shareholder, member, director, manager, officer, or
agent of, enter into the employment of, act as a consultant to, or perform any services for any entity that is in competition with
the Company; (b) solicit business from any Person, or interfere with any relationship of the Company with any Person, which is
then, or was during the twelve month period preceding such prohibited activity, a client of the Company; or (c) solicit the employment
of, or hire, any employee of the Company or otherwise induce any such employee to leave the Company's employment or to breach an
employment agreement therewith.

 

There shall be no restriction on the Executive’s
post-employment activities other than as expressly set forth in this Agreement.

 

8. TERMINATION

 

Either party may terminate the Executive's
employment at any time for any reason, provided that the Executive shall provide thirty (30) days advance written notice of any
such termination. Upon cessation of his employment with the Company, the Executive will be entitled only to such compensation and
benefits as described in this Section 8.

 

8.1. Termination by the Company Without
Cause or by Executive For Good Reason. In the event the Company terminates Executive’s employment hereunder “without
Cause” or the Executive resigns his employment hereunder “for Good Reason”, the Company shall (i)
pay Executive his unpaid Base Salary, the per diem value of any accrued but unpaid paid time off through the effective date of
termination, and any business expenses remaining unpaid on the effective date of the termination for which Executive is entitled
to be reimbursed under Section 5 of this Agreement (the “Accrued Obligations”); (ii) pay Executive an amount
per month equal to one-twelfth of his Base Salary, such amount to be paid for the period commencing on the date following the date
of termination and ending on the date which is twelve (12) months following the effective date of termination and commencing on
the first practicable payroll date following the date the Release (as defined below) is effective; (iii) pay Executive any unpaid
Annual Bonus for the prior Fiscal Year, payable on the later of (x) such time as such Annual Bonus would otherwise be paid in accordance
with Section 4.4 hereto, or (y) the first practical payroll date following the date the Release is effective; (iv) pay Executive
an amount equal to a pro-rata portion of the Annual Bonus for the Fiscal Year in which the termination occurs based on actual individual
and Company performance, with such pro-ration to be determined based on the number of days Executive is employed during the Fiscal
Year in which termination occurs, relative to 365 days, payable on the later of (x) such time as such Annual Bonus would otherwise
be paid in accordance with Section 4.4 hereto, or (y) the first practical payroll date following the date the Release is effective;
(v) pay, or reimburse Executive, for COBRA premiums for twelve (12) months following termination (or, if earlier, the date Executive
becomes covered under the employee benefit plans of a subsequent employer); and (vi) to the extent then unvested, cause to become
vested a pro-rata portion of the Option Award and all other equity and equity-based awards granted to the Executive, which pro-rata
portion is determined by multiplying the number of shares underlying the Option Award and each other award granted to the Executive
by a fraction, the numerator of which is equal to the number of days that have transpired between the Effective Date and the date
of termination, and the denominator of which is 1,460, provided, however, that without limiting any other remedy available hereunder,
all obligations described in this Section 8.1 shall immediately terminate upon a court of competent jurisdiction’s determination
that Executive has breached the provisions of Section 6 or 7 hereof.

 

For the purpose of this Agreement, "Cause"
shall mean (i) commission of a willful and material act of dishonesty in the course of Executive's duties hereunder, (ii) conviction
by a court of competent jurisdiction of a crime constituting a felony or conviction in respect of any act involving fraud, dishonesty
or moral turpitude, (iii) Executive's performance under the influence of controlled substances, or continued habitual intoxication,
during working hours, after the Company shall have provided written notice to Executive and given Executive 30 days within which
to commence rehabilitation with respect thereto, and Executive shall have failed to commence such rehabilitation or continued to
perform under the influence after such rehabilitation, (iv) frequent or extended, and unjustifiable (not as a result of incapacity
or disability) absenteeism which shall not have been cured within 30 days after the Company shall have advised Executive in writing
of its intention to terminate Executive’s employment in accordance with the provisions of this Section 8.1, in the event
such condition shall not have been cured, (v) Executive's personal, willful and continuing misconduct or refusal to perform duties
and responsibilities described in Section 2 above, or to carry out directives of the Board which, if capable of being cured, shall
not have been cured within 60 days after the Company shall have advised Executive in writing of its intention to terminate Executive’s
employment in accordance with the provision of this Section 8.1 or (vi) material non-compliance with the terms of this Agreement,
including but not limited to any breach of Section 6 or Section 7 of this Agreement.

 

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For the purpose of this Agreement, “Good
Reason” shall mean the occurrence of any of the following events without Executive’s prior express written consent:
(i) a reduction in Executive’s Base Salary (other than in connection with an across-the-board reduction impacting other senior
employees of the Company) or reduction in Target Bonus, (ii) any material diminution of Executive’s title or material diminution
in Executive’s authorities or responsibilities,; (iii) any change in the reporting structure so that Executive reports to
someone other than to the Board; (iv) any material breach by the Company of any material obligation to Executive; or (v) any relocation
of Executive’s principal place of employment, to a location more than 35 miles from Executive’s principal place of
employment on the Effective Date (unless such relocation shortens the Executive’s normal commute). Executive may not resign
his employment for Good Reason unless (x) Executive provides written notice to the Company setting forth the specific conduct of
the Company purporting to constitute Good Reason within thirty (30) days of the date Executive first becomes aware of its existence,
(y) the Company fails to cure such conduct (if curable) within thirty (30) days following the date of receipt of such notice and
(z) Executive terminates his employment within thirty (30) days following such failure to cure.

 

8.2. Other Terminations. If the Executive's
employment with the Company is terminated (a) by the Company for Cause, (b) as a result of the Executive's death, (c) as a result
of the Executive's Disability, or (d) as a result of resignation by the Executive without Good Reason, then the Company's obligation
to the Executive will be limited solely to the payment of the Accrued Obligations. All compensation and benefits will cease at
the time of such termination and, except as otherwise required by COBRA, the Company will have no further liability or obligation
by reason of such termination. The foregoing will not be construed to limit the Executive's right to payment or reimbursement for
claims incurred prior to the date of such termination under any insurance contract funding an employee benefit plan, policy or
arrangement of the Company in accordance with the terms of such insurance contract.

 

For the purpose of this Agreement, a "Disability"
shall be deemed to have occurred (i) when Executive has become eligible for disability benefits under the Company's long-term group
disability policy, if any, or, if no policy is then in effect, (ii) when such incapacity or disability, as defined below, shall
have existed for either (A) one continuous period of six months or (B) a total of seven months out of any twelve consecutive months.

 

8.3. Miscellaneous Termination Provisions.

 

Executive, upon termination or expiration
of employment for any reason, hereby irrevocably promises to:

 

(a) Return all property of the Teligent
Companies in his possession or within his custody and control wherever located immediately upon such termination.

 

(b) Participate in an exit interview with
a designated person or persons of Company if requested by Company.

 

(c) Subject to obligations under applicable
laws and regulations, not publicly make any statements or comments that disparage the reputation of any of the Teligent Companies
or their senior officers or directors.

 

8.4. Release. Notwithstanding any
other provision of this Agreement, the payments and benefits described in Section 8.1(ii) through (vi) are conditioned on Executive's
execution and delivery to the Company, within 60 days following his cessation of employment, of a general release of claims against
the Company and its affiliates substantially in the form attached hereto as Exhibit A (the "Release"). If the
60-day period described in the previous sentence begins in one taxable year and ends in a second taxable year and if the cash payments
and benefits described in Section 8.1 exceed the limitations applicable to a "separation pay plan" under Treas. Reg.
§ 1.409A-l(b)(9)(iii), such payments and other rights shall
not commence until the second taxable year.

 

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8.5. Section 409A. The intent of
the Parties is that payments and benefits under this Agreement comply with Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”), to the extent subject thereto, and accordingly, to the maximum extent permitted, this
Agreement shall be interpreted and administered to be in compliance therewith. For purposes of this Agreement, all references to
 “termination of employment” and correlative phrases shall be construed to require a “separation from service”
(as defined in Treas. Reg. §1.409A-1(h) after giving effect
to the presumptions contained therein), and the term “specified employee” means an individual determined by the Company
to be a specified employee under Treas. Reg. § 1.409A-1(i).
If the termination giving rise to the payments described in Section 8.1 is not a “separation from service”, then the
amounts otherwise payable pursuant to that section will instead be deferred without interest and will not be paid until Executive
experiences a “separation from service”. If at the time of the Executive’s termination of employment, the Executive
is a “specified employee,” as defined below, any and all amounts payable under Section 8 on account of such separation
from service that constitute deferred compensation and would (but for this provision) be payable within six (6) months following
the date of termination, shall instead be paid on the next business day following the expiration of such six (6) month period or,
if earlier, upon the Executive’s death; except (A) to the extent of amounts that do not constitute a deferral of compensation
within the meaning of Treas. Reg. § 1.409A-1(b) (including
without limitation by reason of the safe harbor set forth in Treas. Reg. §
1.409A-1(b)(9)(iii), as determined by the Company in its reasonable good faith discretion); (B) benefits that qualify as excepted
welfare benefits pursuant to Treas. Reg. § 1.409A-1(a)(5);
or (C) other amounts or benefits that are not subject to the requirements of Section 409A. To the maximum extent permitted under
Section 409A of the Code and its corresponding regulations, the cash severance benefits payable under this Agreement are intended
to meet the requirements of the short-term deferral exemption under Section 409A of the Code and the "separation pay exception"
under Treas. Reg. § 1.409A-l(b)(9)(iii). For purposes of the
application of Treas. Reg. § 1.409A-l(b)(4) (or any successor
provision), each payment in a series of payments will be deemed a separate payment. To the extent required to avoid an accelerated
or additional tax under Section 409A of the Code, amounts reimbursable to the Executive under this Agreement shall be paid to the
Executive on or before the last day of the year following the year in which the expense was incurred and the amount of expenses
eligible for reimbursement (and in kind benefits provided to the Executive) during one year may not affect amounts reimbursable
or provided in any subsequent year.

 

9. REMEDIES

 

Executive acknowledges that the services
to be rendered by him are of a special, unique and extraordinary character and that it would be extremely difficult or impracticable
to replace such services, that the material provisions of this Agreement are of crucial importance to the Company and that any
damage caused by the breach of Sections 6 or 7 of this Agreement would result in irreparable harm to the business of the Company
for which money damages alone would not be adequate compensation. Accordingly, Executive agrees that if he violates Sections 6
or 7 of this Agreement, the Company shall, in addition to any other rights or remedies of the Company available at law, be entitled
to equitable relief in any court of competent jurisdiction, including, without limitation, temporary injunction and permanent injunction.

 

10. WITHHOLDING

 

Each payment to Executive under this Agreement
shall be reduced by any amounts required to be withheld by the Company from time to time under applicable laws and regulations
then in effect.

 

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11. EXECUTIVE'S REPRESENTATIONS AND WARRANTIES

 

11.1. General. Executive represents
and warrants to the Company that the execution of this Agreement and the performance of his duties as contemplated hereunder do
not conflict with any other agreement, law, rule, regulation, or court order by which he is bound.

 

11.2. No Impairment. Executive represents
and warrants that he is not subject to any agreement or contract that would preclude or impair, in any way, his ability to carry
out his duties under this Agreement for the Company.

 

11.3. No Confidential Information.
Executive has not removed from any prior employer any confidential information.

 

11.4. No Restrictive Agreements.
Executive represents and warrants that, Executive has not heretofore entered into, has not been and is currently not subject to
the provisions of, any employment contract, sales and purchase agreement or other agreement (whether oral or written) of any nature
whatsoever with any other organization, individual or business entity, which prevents or restricts Executive from entering into
this Agreement or performing his duties hereunder, other than such contracts or agreements as Executive has heretofore disclosed
to Company in writing.

 

12. INTELLECTUAL PROPERTY AND OWNERSHIP OF BUSINESS

 

12.1. Ownership of Records. Executive
agrees that all papers, documents, records, business accounts, generated by Executive during the conduct of such business or given
to Executive during and in the course of his employment with Company is the exclusive property of the Company and shall remain
with the Company upon Executive's termination.

 

12.2. Intellectual Property. Executive
further agrees to assign without further consideration all intellectual property, including but not limited to inventions, discoveries
or any material produced by him during the course of his employment hereunder (including modifications or refinements of such materials)
to the Company in their entirety. Such assignment and transfer is a complete and total assignment and transfer of any right Executive
may have in such intellectual property and includes any patent, copyright, trade or service mark or the right to obtain any such
patent, copyright, trade or service mark, and any trade secret rights in such material. This provision does not entitle Executive
to any additional compensation, with such compensation, if any, being entirely within the discretion of Company.

 

13. ENTIRE AGREEMENT; NO AMENDMENT

 

No agreements or representations, oral or
otherwise, express or implied, have been made by either Party, with respect to Executive's employment by any Teligent Company,
that are not set forth expressly in this Employment Agreement. This Agreement supersedes and cancels any other prior agreement
relating to Executive's employment by any Teligent Company, except that Executive shall remain liable for any breaches of any provisions
relating to restrictive covenants (including non-solicitation, non-compete, non-hire) and confidentiality contained in any such
prior agreements. No amendment or modification of this Agreement shall be valid or binding unless made in writing and signed by
the Party against whom enforcement thereof is sought.

 

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14. NOTICES

 

All notices, demands and requests of any
kind which either Party may be required or may desire to serve upon the other Party hereto in connection with this Agreement shall
be delivered only by courier or other means of personal service, which provides written verification of receipt, or by registered
or certified mail return receipt requested (each, a "Notice"). Any such Notice delivered by registered or certified mail
shall be deposited in the United States mail with postage thereon fully prepaid or if by courier then deposited with the courier.
All Notices shall be addressed to the Parties to be served as follows:

 

(a) If to the Company, at the Company's address
set forth on the first page hereof.  

 

(b) If to Executive, at Executive's address
set forth on the first page hereof.

 

Either of the Parties hereto may at any
time and from time to time change the address to which notice shall be sent hereunder by notice to the other Party given under
this Section. All such notices, requests, demands, and other communications shall be effective when received at the respective
address set forth above or as then in effect pursuant to any such change.

 

15. WAIVERS

 

No waiver of any default or breach of this
Agreement shall be deemed a continuing waiver or a waiver of any other breach or default.

 

16. GOVERNING LAW

 

THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.

 

17. SEVERABILITY

 

The provisions of this Agreement are intended
to be interpreted in a manner which makes them valid, legal, and enforceable, in the event any provision of this Agreement is found
to be partially or wholly invalid, illegal or unenforceable, such provision shall be modified or restricted to the extent and in
the manner necessary to render it valid, legal, and enforceable, it is expressly understood and agreed between Executive and the
Company that such modification or restriction may be accomplished by mutual accord between the Parties or, alternatively, by disposition
of a court of law. If such provision cannot under any circumstances be so modified or restricted, it shall be excised from this
Agreement without affecting the validity, legality or enforceability of any of the remaining provisions.

 

18. ASSIGNMENT

 

Executive may not assign any rights (other
than the right to receive income hereunder) under this Agreement without the prior written consent of the Company. This Agreement
may be assigned without the consent of Executive to any Teligent Company or any successor to all or substantially all of the assets
of the Company and this Agreement shall be binding upon and shall inure to the benefit of the assignee hereof.

 

    9

     

    

 

19. MISCELLANEOUS

 

For the avoidance of doubt, the provisions
of sections 6, 7, 8, 16, 20 and any other ongoing duties of the parties hereto shall survive termination or expiration of this
Agreement.

 

20. INDEMNIFICATION

 

The Company will indemnify Executive in accordance with the
terms of the Company’s articles of incorporation and/or by-laws. Executive shall be covered under any directors’
and officers’ liability insurance policy then in effect for the Company or any of its affiliates as to which Executive is
serving as a director or officer.

 

21. COUNTERPARTS

 

This Agreement may be executed in one or
more counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall
be deemed an original, but all such counterparts together shall constitute but one and the same instrument. Signature pages may
be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically
attached to the same document.

 

22. HEADINGS

 

The headings of the several sections and
subsections of this Agreement are inserted for convenience only and shall not in any way affect the meaning or construction of
any provision of this Agreement.

 

23. CONSTRUCTION OF AGREEMENT

 

All Parties agree that this Agreement shall
be construed in such a manner so as not to favor one party or the other regardless of which party has drafted this Agreement.

 

[Remainder of Page Intentionally Left Blank]

 

 

 

    10

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

 

	 	
        TELIGENT, INC.

	 	 	 
	 	 	 
	 	By:	/s/ James Gale
	 	Name:  	James Gale
	 	Title:	Chairperson, Board of Directors
	 	Date:	February 4, 2020
	 	 	 
	 	 	 
	 	/s/ Tim Sawyer
	 	Tim Sawyer
	 	Date:	February 4, 2020

 

    11Exhibit
10.1

 

Certain
information has been excluded from the exhibit because it is not material and would likely cause competitive harm to the company
if publicly disclosed. [***] indicates the redacted confidential portions of this exhibit.

 

SECOND
AMENDED AND RESTATED DISTRIBUTION AND SUPPLY AGREEMENT

 

October
13, 2017

 

This
Second Amended and Restated Distribution and Supply Agreement (the “Agreement”) is entered into on October
13, 2017 (the “Agreement Date”), by and between Skin and Wound Allograft Institute, LLC, a Virginia limited
liability company (“SWAI”), and Soluble Systems, LLC, a Virginia limited liability company (“Distributor”),
and shall be effective as of the Closing Date (as defined below) (the “Effective Date”). SWAI and Distributor
are referred to herein together as the “Parties” and each individually as a “Party”. In
the event the Closing (as defined below) does not occur on or before December 31, 2018, this Agreement will be void and of no
force and effect.

 

WHEREAS,
SWAI historically has marketed and distributed cryo preserved human skin allograft with both epidermis and dermis (“Allograft”),
unbranded and under the brand name Readigraft®, to the Burn Market;

 

WHEREAS,
SWAI and Distributor are party to that certain Distribution Agreement effective as of February 1, 2010, as previously amended
by a First Amendment dated December 26, 2010, a Second Amendment dated October 1, 2012, a Third Amendment dated October 30, 2014,
a Fourth Amendment dated May 29, 2015, and a Fifth Amendment dated as of May 10, 2017 (collectively, the “Original Agreement”);

 

WHEREAS,
SWAI and Distributor are also party to that certain Amended and Restated Distribution Agreement dated as of May 10, 2017 (the
“First A&R Agreement”), which has not taken effect as of the Agreement Date;

 

WHEREAS,
the Parties desire that this Agreement, as of the Agreement Date, supersede in its entirety the First A&R Agreement, that
the Original Agreement terminate upon the timely consummation of a Triggering Event Transaction and that this Agreement simultaneously
come into effect upon the timely consummation of a Triggering Event Transaction to govern the strategic relationship pursuant
to which Distributor will, following Closing, market and distribute the Allograft, with specific product specifications and packaging
for the Wound Care Market, under the brand name TheraSkin® (“TheraSkin”) (the “Product”),
on the terms and conditions set forth herein.

 

WHEREAS,
the Parties desire that Distributor distribute the Product to customers in the Wound Care Market following the Closing. So as
to be clear, the Product is to be marketed and distributed by Distributor to the Wound Care Market, but not to the Burn Market.

 

    

     

    

 

NOW,
THEREFORE, for and in consideration of the covenants, conditions and undertakings hereinafter set forth, it is agreed by and between
the Parties as follows:

 

Article
1

DEFINITIONS

 

Unless
otherwise specifically provided in this Agreement, the following terms shall have the following meanings:

 

1.1 “Actual
Units” shall have the meaning given such term in Section 9.2

 

1.2 “Affiliates”
means, with respect to a Person, any Person that controls, is controlled by or is under common control with such first Person.
For purposes of this definition only, “control” means (a) to possess, directly or indirectly, the power to direct
the management or policies of a Person, whether through ownership of voting securities or by contract relating to voting rights
or corporate governance, or (b) to own, directly or indirectly, more than fifty percent (50%) of the outstanding voting securities
or other ownership interests of such Person.

 

1.3 “Agency”
means any governmental or regulatory authority in the Territory, including the FDA.

 

1.4 “Agreement
Date” shall have the meaning given such term in the preamble of this Agreement.

 

1.5 “Agreement
Modification Fee” shall have the meaning given such term in Section 3.1.

 

1.6 “Allograft”
shall have the meaning set forth in the first recital to this Agreement.

 

1.7 “Alternate
Supply Arrangement” shall have the meaning set forth in Section 9.1(d).

 

1.8 “Applicable
Laws” means all federal, state and local laws, and the rules and regulations of all Agencies, in effect from time to
time applicable to the manufacture, processing, storage, labeling, transportation, marketing, promotion, distribution and sale
of the Product in the Territory.

 

1.9 “Assumption
of Shipping Responsibility Notice” shall have the meaning set forth in Section 11.3.

 

1.10 “Base
Year” shall have the meaning set forth in Section 9.1(d).

 

1.11 “Burn
Market” means the medical market focused on the treatment and rehabilitation of traumatic burn injuries, excluding chronic
wounds (whether or not such wounds resulted in whole or in part from a traumatic burn injury).

 

1.12
“Business Continuity Plan” means the strategic plan by which SWAI intends to continue to meet its obligations
under this Agreement in the event of certain adverse events, incidents or other disasters.

 

    2

     

    

 

1.13 “Business
Day” means a day other than Saturday, Sunday or any day on which banks located in the United States are authorized or
obligated to close.

 

1.14 “Business
Plan” means, with respect to each Party for each Calendar Year, the plan developed consistent with the provisions of
Sections 10.1 and 10.2.

 

1.15 “Calendar
Quarter” means each of the three (3) consecutive month periods ending on March 31, June 30, September 30, and December
31.

 

1.16 “Calendar
Month” means any whole or partial calendar month during the Term of this Agreement.

 

1.17 “Calendar
Year” means the period from the Effective Date through December 31 of the year in which the Effective Date occurs, and
each successive period of twelve (12) consecutive calendar months commencing on January 1 and ending on December 31.

 

1.18 “Change
of Control”, with respect to any Person (the “Subject Person”), means an event in which:

 

(a) any
other Person or group of Persons (other than a Parent Entity of the Subject Person) acquires beneficial ownership of securities
of the Subject Person representing more than fifty percent (50%) of the voting power of the then outstanding securities of the
Subject Person with respect to the election of directors of the Subject Person; or

 

(b) the
Subject Person enters into a merger, consolidation, scheme of arrangement or similar transaction with another Person, unless (i)
the members of the Board of Directors (or similar governing body) of the Subject Person immediately prior to such transaction
constitute more than fifty percent (50%) of the members of the Board of Directors (or similar governing body) of the Subject Person
(or a Parent Entity of the Subject Person) immediately following such transaction, and (ii) the Persons who beneficially owned
the outstanding voting securities of the Subject Person immediately prior to such transaction beneficially own securities of the
Subject Person representing at least fifty percent (50%) of the voting power with respect to the election of directors or managers
of the Subject Person immediately following such transaction, or a Parent Entity of the Subject Person beneficially owns securities
of the Subject Person representing one hundred percent (100%) of the voting power with respect to the election of directors (or
managers) of the Subject Person immediately following such transaction; or

 

(c) the
Subject Person sells to any Person(s), in one or more related transactions, properties or assets (i) representing more than fifty
percent (50%) of the Subject Person’s consolidated total assets or (ii) from which more than fifty percent (50%) of the
Subject Person’s consolidated operating income for its most recent fiscal year was derived.

 

    3

     

    

 

For
purposes of this definition, a “Parent Entity” of a Subject Person means any Person that acquires directly
or indirectly, by merger or otherwise, the equity securities of the Subject Person if the holders of securities that represented
100% of the voting power with respect to the election of directors (or managers) (“Voting Equity”) of the Subject
Person immediately prior to such acquisition directly own 100% of the Voting Equity of the Parent Entity immediately after such
acquisition and in the exact same percentages as they owned Voting Equity in the Subject Person immediately prior to such acquisition.

 

1.19 “Closing”
means the closing of a Triggering Event Transaction.

 

1.20 “Closing
Date” means the date of the Closing.

 

1.21
“Competing Product” means any cryo preserved human skin allograft with both epidermis and dermis.

 

1.22 “Confidential
Information” means confidential, non-public or proprietary information that has been or is disclosed or made available
by a Party or its Affiliates to the other Party or its Affiliates in connection with this Agreement, including, without limitation,
any inventions, discoveries, improvements, developments, ideas, know-how, trade secrets, technical and non-technical data, specifications,
formulae, compounds, formulations, assays, methods, processes, techniques, practices, procedures, manufacturing techniques, designs,
works of authorship, trade names, logos and other intellectual property, whether or not patentable or protectable by copyright,
business and product plans, research and development plans or results, and sales, marketing, financial and pricing information,
in each case whether disclosed or made available in visual, oral, written, electronic, graphic or any other form, including in
the form of samples, and all copies, reproductions, notes and repositories thereof.

 

1.23 “Control”
or “Controlled” means, with respect to any intellectual property right of a Party, that the Party or its Affiliate
owns or has a license to such intellectual property right and has the ability to grant access, a license, or a sublicense to such
intellectual property right to the other Party as provided in this Agreement without violating an agreement with any third party.

 

1.24 “Credit
Agreement” means that certain Credit Agreement dated June 1, 2015 between Distributor and SWK Funding, LLC, as amended.

 

1.25 “Cure
Period” shall have the meaning set forth in Section 19.2(a)(i).

 

1.26 “Customers”
means physicians, hospitals, and any other customers of Product distributed hereunder other than Direct Customers (provided, however,
that if and when any Direct Customer agrees to deal directly with Distributor as vendor of record for Product and, in the case
of unexpired supply agreements that are not master or group purchasing agreements, to request and consent to an assignment of
its supply agreement with SWAI to Distributor such that Distributor then becomes vendor of record for Product distributed to such
Direct Customer hereunder, such physician, hospital or other customer, as the case may be, shall immediately and automatically
be thereafter deemed a Customer for all purposes hereof).

 

    4

     

    

 

1.27 “Detailing”
means that part of an “in person,” face-to-face sales call during which a Representative, who is fully trained
and knowledgeable with respect to the Product, including its Product Labels and Inserts and the use of the Promotional Materials,
makes a full presentation of the Product to Customers and potential Customers such that the relevant characteristics of the Product
are described by the Representative in a fair and balanced manner consistent with the requirements of this Agreement and Applicable
Laws and in a manner that is customary in the industry for the purpose of promoting products similar to the Product. When used
as a verb, “Detail” means to engage in a Detailing. For a sales call to constitute a “Detailing,”
the Product must be the only product presented during such sales call other than wound care products marketed and sold by Distributor.

 

1.28 “Direct
Customers” shall mean those customers of Product, including the two group purchasing organizations identified as such
and any customer purchasing Product through one of such identified group purchasing organizations, that are listed on Exhibit
F, each of which has an existing supply agreement with SWAI as of the Agreement Date that expires as of the expiration date
for such supply agreement set forth on Exhibit F (provided, however, that if and when SWAI ceases to supply any Direct
Customer (whether directly or through a group purchasing organization set forth on Exhibit F) in accordance with Section
3.7, such customer shall thereafter immediately and automatically be deemed a Customer for all purposes hereof).

 

1.29 “Disclosing
Party” means the Party disclosing its Confidential Information.

 

1.30 “Distributor
Indemnified Party” shall have the meaning set forth in Section 16.2.

 

1.31 “Distributor
Intellectual Property” means all intellectual property rights of Distributor and/or its Affiliates worldwide, whether
arising under statutory or common law and whether or not perfected, including, without limitation, all (a) patents, patent applications
and patent rights; (b) rights associated with works of authorship, including copyrights, copyright applications and copyright
registrations; (c) Trademarks, service marks and trademark and service mark applications including, without limitation, the Distributor
Product Trademarks, (d) rights relating to the protection of trade secrets, know-how and Confidential Information; and (e) any
divisions, continuations, continuations-in-part, substitutions, extensions, renewals, reexaminations and reissues of the foregoing
(as and to the extent applicable) now existing or hereafter filed, issued or acquired.

 

1.32 “Distributor
Product Trademarks” means the Trademark THERASKIN and associated logos of Distributor, and any future Trademarks developed
by Distributor or its Affiliates and approved by SWAI (which approval shall not be unreasonably withheld) for use in connection
with the Product.

 

1.33 “Effective
Date” has the meaning set forth in the preamble to this Agreement.

 

1.34 “Excess
Amount” means, with respect to each Calendar Year, a dollar amount equal to the positive difference, if any, between
(x) Distributor’s actual Gross Profit for such Calendar Year and (y) Target Gross Profit.

 

    5

     

    

 

1.35 “FDA”
means the United States Food and Drug Administration and any successor agency having substantially the same functions.

 

1.36 “Firm
Commitment” has the meaning defined in Article 8.

 

1.37 “Firm
Commitment Units” shall have the meaning given in Section 9.2

 

1.38 “Force
Majeure” has the meaning defined in Section 20.4.

 

1.39 “Force
Majeure Party” means a Party prevented or delayed in its performance under this Agreement by an event of Force Majeure.

 

1.40 “Forecast”
has the meaning defined in Article 8.

 

1.41 “GAAP”
means United States generally accepted accounting principles as modified from time to time.

 

1.42 “Gross
Profit” means, with respect to any Calendar Year, gross profit recognized by Distributor from Net Sales of Product for
such Calendar Year which shall mean (i) Distributor’s aggregate sales price of the Product charged to Customers with respect
to such Net Sales, excluding all sales taxes and freight charges, less (ii) the cost of such Product charged to Distributor by
SWAI, excluding all freight charges.

 

1.43 “Gross
Profit Margin” means, with respect to sales of the Product during each Calendar Year, the ratio of Gross Profit to Net
Sales expressed as a percentage.

 

1.44 “Indemnification
Claim Notice” has the meaning defined in Section 16.3.

 

1.45 “Indemnified
Party” means a Person seeking to recover Loss under Section 16.1 or 16.2.

 

1.46 “Indemnifying
Party” means the Party from whom recovery of Loss is sought under Section 16.1 or 16.2.

 

1.47 “Indemnitee”
shall have the meaning set forth in Section 16.3.

 

1.48 “Initial
Term” shall have the meaning set forth in Section 19.1.

 

1.49 “Knowledge
of Distributor” means the knowledge of Distributor’s chief executive officer, and those key employees as defined
in accordance with Internal Revenue Service rules and regulations, after inquiry of their direct reports.

 

1.50 “Knowledge
of SWAI” means the knowledge of SWAI’s chief executive officer or equivalent and those key employees as defined
in accordance with the Internal Revenue Services’ rules and regulations after inquiry of their direct reports.

 

    6

     

    

 

1.51 “License”
has the meaning defined in Section 14.3.

 

1.52 “LNH”
means LifeNet Health, Inc.

 

1.53 “Loss”
means any and all liabilities, claims, demands, causes of action, damages, loss and expenses, including interest, penalties and
reasonable lawyers’ fees and disbursements.

 

1.54 “Minimum
Credit Standards” refers to the minimum required creditworthiness of a counterparty to a Change of Control transaction
as of the date of closing thereof which standard shall be as follows: (i) minimum cash on hand of at least $5,000,000, (ii) a
current ratio determined under GAAP that is at least 1:1, and (iii) a minimum net worth determined under GAAP of $30,000,000.

 

1.55 “Minimum
Inventory” means a number of units of Product (by size) equal to 90% of the number of units of Product (by size) shipped
by SWAI pursuant to this Agreement during the prior four (4) Calendar Months.

 

1.56 “Minimum
Product Price” has the meaning defined in Section 9.1(d)(C).

 

1.57 “Negotiation
Period” has the meaning defined in Section 9.1(d).

 

1.58 “Net
Sales” means, with respect to any Calendar Year, the aggregate net sales of the Product to Customers recognized by Distributor
during such Calendar Year determined in accordance with GAAP but expressly excluding freight charges and bad debt allowance or
write offs.

 

1.59 “Noncompeting
Product” is any product that is not a Competing Product.

 

1.60 “Non-fulfillment
Notice” shall have the meaning set forth in Section 11.1.

 

1.61 “Original
Agreement” shall have the meaning set forth in the second recital to this Agreement.

 

1.62 “Original
License Agreement” means that certain Trademark License Agreement between SWAI and Distributor dated as of October 30,
2014.

 

1.63 “Parties”
shall have the meaning given in the preamble to this Agreement.

 

1.64 “Person”
means an individual, sole proprietorship, partnership, limited partnership, limited liability partnership, corporation, limited
liability company, business trust, joint stock company, trust, incorporated association, joint venture or similar entity or organization,
including a government or political subdivision, department or agency of a government.

 

1.65 “Price
Proposal” has the meaning defined in Section 9.1(d).

 

    7

     

    

 

1.66 “Price
Reducing Factors” shall have the meaning set forth in Section 9.1(d).

 

1.67 “Price
Reduction Request” has the meaning defined in Section 9.1(d).

 

1.68
“Product” has the meaning set forth in the third recital to this Agreement.

 

1.69 “Product
Copyrights” means all copyrightable subject matter, and the copyrights therein, included in the Product Labels and Inserts,
the Promotional Materials, and the Product training materials.

 

1.70 “Product
Labels and Inserts” means (i) all labels and other written, printed or graphic matter affixed to any container, packaging
or wrapper utilized with the Product, or (ii) any written material physically accompanying the Product, including Product package
inserts.

 

1.71 “Product
Patents” means all current and future United States issued patents and patent applications that (i) are owned or Controlled
by either of the Parties during the Term, and (ii) claim the Product or a method of making or using the Product.

 

1.72 “Product
Trademarks” means the (i) Trademark THERASKIN and the registrations thereof, (ii) any other Trademarks relating to the
Product and the registrations thereof, (iii) any pending or future trademark registration applications relating to the Product
(iv) any unregistered Trademark rights relating to the Product as may exist through use prior to or as of the date hereof, (v)
any current or future modifications or variants of any of the foregoing Trademarks, and (vi) any future Trademarks developed by
Distributor or its Affiliates and approved by SWAI (which approval shall not be unreasonably withheld) for use in connection with
the Product. Product Trademarks specifically exclude the SWAI Trademarks.

 

1.73 “Promotion”
means those activities normally undertaken by a company’s sales force to implement marketing plans and strategies aimed
at encouraging the appropriate use of a particular product similar to the Product, including Detailing. When used as a verb, “Promote”
means to engage in such activities.

 

1.74 “Promotional
Materials” means all written, printed, graphic material or information to be delivered electronically, other than Product
Labels and Inserts, intended for use by Representatives in Detailing and Promoting the Product in the Territory, including visual
aids, file cards, premium items, reprints, website content, and any other promotional support items.

 

1.75 “Qualified
Equity Financing” shall mean the consummation and funding (following the Agreement Date) of the sale by Distributor
of newly issued membership interests of Distributor which (i) have no mandatory redemption or put features, (ii) which have no
mandatory distribution or payment in kind provisions other than for the distribution of income tax generated by allocated income
to any member, (iii) which results in new cash proceeds to the Distributor of no less than Twelve Million Five Hundred Thousand
Dollars in the aggregate in one or more related equity offerings made in compliance with applicable securities laws and (iv) the
proceeds of which are used for general working capital needs of the Distributor and not for the full or partial retirement of
funded debt (provided that notwithstanding the foregoing, any proceeds in excess of $12,500,000 may be used for the full or partial
retirement of funded debt).

 

    8

     

    

 

1.76 “Qualified
National Shipper” shall have the meaning set forth in Section 11.3.

 

1.77 “Receiving
Party” means the Party receiving Confidential Information.

 

1.78 “Recipients”
has the meaning defined in Section 13.1.

 

1.79 “Remedial
Action” shall have the meaning given in Section 12.5.

 

1.80 “Renewal
Term” shall have the meaning set forth in Section 19.1.

 

1.81 “Representative”
means a sales representative employed or contracted by Distributor or its Affiliates.

 

1.82 “ROFR
Notice” shall have the meaning set forth in Section 9.1(d).

 

1.83 “Sales
Force” means the full set of Distributor Representatives, field sales managers, district sales managers, regional sales
managers, national sales managers, trainers, market development specialists, managed care account directors and other members
customarily comprising a sales force for products similar to the Product.

 

1.84 “Sell-Off
Period” shall have the meaning set forth in Section 19.4.

 

1.85 “Services
Agreement” has the meaning set forth in Section 3.1(b).

 

1.86 “Shipping
Dock” shall have the meaning set forth in Section 11.3.

 

1.87 “Shortfall
Units” shall have the meaning set forth in Section 9.2.

 

1.88 “Supply
Offer” shall have the meaning set forth in Section 9.1(d).

 

1.89 “SWAI
Indemnified Party” shall have the meaning set forth in Section 16.1

 

1.90 “SWAI
Intellectual Property” means all intellectual property rights of SWAI and/or its Affiliates worldwide, whether arising
under statutory or common law and whether or not perfected, including, without limitation, all (a) patents, patent applications
and patent rights; rights associated with works of authorship, including copyrights, copyright applications and copyright registrations;
(c) trademarks, service marks and trademark and service mark applications, (d) rights relating to the protection of trade secrets,
know-how and Confidential Information; and (e) any divisions, continuations, continuations-in-part, substitutions, extensions,
renewals, reexaminations and reissues of the foregoing (as and to the extent applicable) now existing or hereafter filed, issued
or acquired.

 

    9

     

    

 

1.91 “SWAI
Representative(s)” means a sales representative employed by SWAI or its parent company, Life Net Health, Inc.”

 

1.92 “SWAI
Right of First Refusal Offer” shall have the meaning set forth in Section 9.1(d).

 

1.93 “SWAI
Trademarks” means READIGRAFT, associated logos of SWAI, and any Trademarks and/or service marks developed by SWAI for
use in connection with the Product after termination or expiration of this Agreement.

 

1.94 “SWK”
means SWK Funding, LLC, the lender under the Credit Agreement.

 

1.95 “Target
Gross Profit” means, with respect to each Calendar Year, a dollar amount equal to the Gross Profit that would be realized
by Distributor from aggregate Net Sales of the Product to Customers during such Calendar Year if Distributor’s Gross Profit
Margin thereon was [***] percent ([***]%).

 

1.96 “Term”
has the meaning defined in Section 19.l.

 

1.97 “Territory”
means the fifty (50) states of the United States of America, the District of Columbia, and Puerto Rico, but not any other territories
or possessions of the United States.

 

1.98 “Third
Party Claim” means any claim of a third party for which indemnification is sought under Section 16.4.

 

1.99 “Trademark”
means any trademark, trade dress, brand mark, trade name, brand name, fictitious name, logo, symbol or domain name.

 

1.100 “Triggering
Event Transaction” means the occurrence, following the Agreement Date, of (i) a Change of Control with respect to Distributor
with a counterparty that meets the Minimum Credit Standards; provided, however, that for the avoidance of doubt, the counterparty
to such Change of Control transaction shall not be any entity described on Exhibit D, or any entity under common control
with any such entity without the prior written consent of SWAI granted in its sole discretion, and/or (ii) a Qualified Equity
Financing.

 

1.101 “Violating
Party” shall have the meaning set forth in Section 19.2(a)(iii).

 

1.102 “Warrant”
means that certain Amended and Restated Warrant issued by Distributor to SWAI as of October 1, 2012, as amended by that certain
First Amendment to Amended and Restated Warrant dated as of May 10, 2017, as may be further amended, by the Parties from time
to time.

 

1.103 “Wound
Care Market” means the medical market focused on the treatment and healing of acute and chronic wounds and any other
healing or repair of damaged human tissue, including wounds caused by therapeutic radiation and minor burns, but specifically
excluding the Burn Market.

 

    10

     

    

 

Article
2

CONSTRUCTION

 

Except
where the context requires otherwise, whenever used, the singular includes the plural, the plural includes the singular, the use
of any gender is applicable to all genders and the word “or” has the inclusive meaning represented by the phrase “and/or.”
Whenever this Agreement refers to a number of days, unless otherwise specified, such number refers to calendar days. The headings
of this Agreement are for convenience of reference only and do not define, describe, extend or limit the scope or intent of this
Agreement or the scope or intent of any provision contained in this Agreement. The term “including” or “includes”
as used in this Agreement means including, without limiting the generality of any description preceding such term. The wording
of this Agreement shall be deemed to be the wording mutually chosen by the Parties and no rule of strict construction shall be
applied against any Party.

 

Article
3

PROMOTION AND DISTRIBUTION RIGHTS

 

3.1 Effectiveness
of this Agreement; Services Agreement; Fee; Marketing.

 

(a) The
Parties agree that upon the Closing of a Triggering Event Transaction, the Original Agreement shall automatically terminate and
this Agreement shall simultaneously come into effect. Notwithstanding the termination of the Original Agreement, such Original
Agreement shall remain in force and effect with respect to all transactions occurring prior to the Effective Date and each of
the Parties hereto will remain liable for the payment of all amounts due under the Original Agreement for periods prior to the
Effective Date, for any breach or failure to perform under the Original Agreement prior to the Effective Date and for any other
obligations thereunder that are applicable to transactions occurring prior to the Effective Date and which survive the expiration
of the term thereof, including without limitation, any obligations of indemnity with respect to transactions occurring prior to
the Effective Date (in all cases to the extent not duplicative of a Party’s obligations under this Agreement). For the avoidance
of doubt, the termination of the Original Agreement upon the Closing of a Triggering Event Transaction as provided herein shall
not constitute a Triggering Event under the Original Agreement, and upon such termination of the Original Agreement, Section 16.4(f)
of the Original Agreement shall be void and of no further force or effect. Following the Effective Date, in the event of any conflict
or inconsistency between the provisions of the Original Agreement and the provisions of this Agreement, the provisions of this
Agreement shall in all respects govern and control. In the event the Closing of a Triggering Event Transaction does not occur
on or before September 30, 2017, or if the Capital Event Date as defined in the Credit Agreement is extended by written agreement
of SWK beyond such date, then on or before the earlier of (i) March 31, 2018, (ii) the date to which SWK has granted such extension
or (iii) the date on which any condition to any extension granted by SWK has failed (unless SWK contemporaneously waives such
failure), this Agreement will be void and of no force and effect. Distributor shall promptly provide to SWAI notice of any such
extension granted by SWK and a copy of the duly executed extension setting forth the complete terms under which such extension
was granted.

 

    11

     

    

 

(b) Contemporaneously
with the execution and delivery of this Agreement, each Party shall execute and deliver to the other Party a Services Agreement
in the form of Exhibit A attached hereto (the “Services Agreement”), the effectiveness of which is conditioned
upon the Closing.

 

(c) Contemporaneously
with the Closing of a Triggering Event Transaction, Distributor shall pay SWAI an Agreement modification fee of One Million Two
Hundred Thousand Dollars ($1,200,000) in immediately available funds in consideration of SWAI’s execution and delivery of
this Agreement.

 

(d) Each
Party agrees that, following the Closing of a Triggering Event Transaction, it shall execute and deliver to the other Party such
ministerial instruments and documents reasonably requested by such Party required to effect or further evidence the termination
of the Original Agreement. Each Party further agrees that if the Triggering Event Transaction involves the sale of Distributor’s
properties and assets and the assignment of this Agreement to the acquirer of such properties and assets, it shall execute and
deliver to the other Party and/or the acquirer such ministerial instruments and documents reasonably requested by such Party or
acquirer required to effect or further evidence the assignment of this Agreement, the License and the Services Agreement. The
acquirer in any such Change of Control transaction shall expressly assume the obligations of Distributor under this Agreement,
the License and the Services Agreement at Closing.

 

(e) Subject
to the terms and conditions of this Agreement and except for SWAI’s right to effect sales of Product to Direct Customers
as herein provided, Distributor shall have the exclusive right to sell, Promote and Detail the Product, to be supplied by SWAI,
in the Territory during the Term of this Agreement.

 

3.2 Distribution;
Invoicing and Collection. Subject to, and without limiting, the terms and conditions of this Agreement, including without
limitation the terms and conditions of Sections 11.1 and 11.3, the Parties hereby agree that (i) SWAI is responsible for shipping
the Product to Customers based on orders placed with SWAI by Distributor and (ii) Distributor has the responsibility, and exclusive
right, during the Term of this Agreement (subject to the provisions of Section 3.7), to procure and take orders and invoice and
collect payment from Customers for the Product provided that the cost of shipping shall be at the expense of Distributor as herein
provided. If SWAI ever receives any payment from Customers for the Product, SWAI shall promptly remit such payment in its entirety
to Distributor. Distributor shall pay SWAI for all product orders from Customers placed with SWAI and shipped to Distributor irrespective
of whether Distributor received payment from the Customer, it being understood that all customer credit and payment risk with
respect to Customers rests with Distributor.

 

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3.3 Exclusivity.

 

(a) From
the date hereof through expiration of the Term or earlier termination of this Agreement, except for the solicitation of an Alternate
Supply Agreement expressly permitted by Section 9.1(d), Distributor shall not, and shall cause its Affiliates not to, directly
or indirectly, (i) market, Promote, distribute, sell or accept orders for the sale of any Competing Product in the Territory,
(ii) assist or cooperate in any way with any other Person in connection with the marketing, Promotion, distribution, selling or
acceptance of orders for the sale of any Competing Product in the Territory, or (iii) grant any third party any license under
the Distributor Product Trademarks or any patent or patent application owned or Controlled by Distributor or its Affiliates to
be used directly or indirectly in conjunction with the sale or offer to sell of any Competing Product in the Territory; provided,
however, that the foregoing shall not be interpreted to prohibit the marketing, Promotion, distribution, sale or acceptance of
orders for the sale of a product that is a Noncompeting Product, even if such Noncompeting Product can be used in combination
with a Competing Product or such Noncompeting Product is marketed to the Wound Care Market.

 

(b) During
the Term, except for sales of Product by SWAI to Direct Customers in accordance with the provisions of Section 3.7 and as otherwise
expressly provided herein, neither SWAI nor its Affiliates shall (a) supply or otherwise provide rights to a third party to the
Product or any Competing Product in the Territory (other than for subcontractors necessary to supply Product to Distributor) or
(b) manufacture, supply or sell the Product or any Competing Product for use in the Territory by any other individual or entity
other than Distributor or its Affiliates. During the Term, SWAI shall direct all inquiries regarding potential purchase of Product
from any Customer or any potential Customer to Distributor. Notwithstanding anything herein to the contrary, SWAI and its Affiliates
may, without any restrictions under this Agreement whatsoever, market, sell, distribute and otherwise engage in the production,
sale and distribution of Allograft (but not under the name TheraSkin® or any brand name that would infringe the TheraSkin®
mark) through SWAI Representatives (but not other third party sales representatives or distributors other than Distributor) for
the Burn Market within and outside the Territory under the brand name Readigraft®, any trademark that does not infringe upon
the Theraskin® mark or an unbranded basis.

 

3.4 Remedies.

 

(a) Both
Distributor and SWAI acknowledge that the temporal and geographic limitations set forth in this Article 3 are reasonable and necessary
to protect the legitimate interests of Distributor and SWAI, and each Party respectively agrees not to contest such limitations
in any proceeding.

 

    13

     

    

 

(b) Upon
any breach of Section 3.3, by Distributor, which breach remains uncured thirty (30) days after written notice of such breach is
given to Distributor, SWAI may terminate this Agreement by providing written notice of such termination to Distributor in accordance
with Section 20.6.

 

(c) Upon
any breach of Section 3.3 by SWAI, which breach remains uncured thirty (30) days after written notice of such breach is given
to SWAI, Distributor may terminate this Agreement by providing written notice of such termination to SWAI in accordance with Section
20.6.

 

(d) Distributor
acknowledges and agrees that SWAI would not have entered into this Agreement in the absence of the restrictions and exceptions
set forth in Section 3.3, and that any breach or threatened breach of any provision of Section 3.3 will result in irreparable
injury to SWAI for which there will be no adequate remedy at law. In the event of a breach or threatened breach of any provision
of Section 3.3 by Distributor, SWAI shall, notwithstanding the provisions of Section 20.3, be authorized and entitled to obtain
from any court of competent jurisdiction injunctive relief, whether preliminary or permanent, specific performance and an equitable
accounting of all earnings, profits and other benefits arising from such breach, which rights shall be cumulative and in addition
to any other rights or remedies to which it may be entitled in law or equity. Distributor agrees to waive any requirement that
SWAI (i) post a bond or other security as a condition for obtaining any such relief and (ii) show irreparable harm, balancing
of harms, consideration of the public interest or inadequacy of monetary damages as a remedy. Nothing in this Section 3.4(d) is
intended, or shall be construed, to limit SWAI’s rights to equitable relief or any other remedy for a breach of any provision
of this Agreement.

 

(e) SWAI
acknowledges and agrees that Distributor would not have entered into this Agreement in the absence of the restrictions and exceptions
set forth in Section 3.3, and that any breach or threatened breach of any provision of Section 3.3 will result in irreparable
injury to Distributor for which there will be no adequate remedy at law. In the event of a breach or threatened breach of any
provision of Section 3.3 by SWAI, Distributor shall, notwithstanding the provisions of Section 20.3, be authorized and entitled
to obtain from any court of competent jurisdiction injunctive relief, whether preliminary or permanent, specific performance and
an equitable accounting of all earnings, profits and other benefits arising from such breach, which rights shall be cumulative
and in addition to any other rights or remedies to which it may be entitled in law or equity. SWAI agrees to waive any requirement
that Distributor (i) post a bond or other security as a condition for obtaining any such relief and (ii) show irreparable harm,
balancing of harms, consideration of the public interest or inadequacy of monetary damages as a remedy. Nothing in this Section
3.4(e) is intended, or shall be construed, to limit Distributor’s rights to equitable relief or any other remedy for a breach
of any provision of this Agreement.

 

    14

     

    

 

3.5 No
Other Rights to SWAI Intellectual Property. Except as expressly provided in this Agreement, SWAI does not hereby grant any
right, title or interest to Distributor whether expressly, by implication, estoppel, or otherwise, to any SWAI Intellectual Property
and any exploitation by Distributor of any SWAI Intellectual Property shall be deemed a breach of this Section 3.5.

 

3.6 No
Other Rights to Distributor Intellectual Property. Except as expressly provided in this Agreement, Distributor does not hereby
grant any right, title or interest to SWAI whether expressly, by implication, estoppel, or otherwise, to any Distributor Intellectual
Property and any exploitation by SWAI of any Distributor Intellectual Property shall be deemed a breach of this Section 3.6.

 

3.7 Customer
Transition; Sales by SWAI to Direct Customers; Transition. Following the Effective Date, (i) SWAI shall refer all Customers
who directly contact SWAI to purchase Product to the Distributor to handle such sale (for the avoidance of doubt this expressly
excludes all Direct Customers) and (ii) Distributor may use commercially reasonable efforts to attempt to transition Direct Customers
to Distributor, in which event SWAI shall not discourage such transition (for the avoidance of doubt, the act of honoring its
supply agreements with Direct Customers and directly supplying Product as provided in this Section 3.7 shall not constitute discouraging
such transition). Notwithstanding anything herein to the contrary, SWAI shall have the right to sell and ship Product to any Direct
Customer until such time, if any, as such Direct Customer agrees to deal directly with Distributor as vendor of record for Product
and in the case of unexpired supply agreements which are not master or group purchasing agreements, to request and consent to
an assignment of its supply agreement to Distributor, and all such sales to Direct Customers shall be treated as sales made for
the account of SWAI; provided that (I) following expiration of any agreement with a Direct Customer, SWAI will not continue
to supply Products to such Direct Customer under any extension of the existing agreement or under any new agreement with the Direct
Customer and (II) as to agreements with Direct Customers that have automatic renewal provisions but that SWAI has (or will have)
a right to terminate, at Distributor’s request, SWAI will exercise such termination right as requested by Distributor, such
termination to take effect on no less than the notice period set forth in the applicable agreement with the Direct Customer and
no earlier than expiration of the current (as of the Agreement Date) agreement term (excluding any renewal or extension thereof).
SWAI shall pay to Distributor a distribution commission equal to [***] of the aggregate net sales price of Product
sold to Direct Customers in any month of the Term. Such aggregate net sales price shall mean the gross selling price net of discounts,
allowances and freight and insurance separately billed to the Direct Customer. Such commission payments shall be paid to Distributor
on or before the end of the month following the month in which such commissions were earned, accompanied by a detailed report
of aggregate net sales for such month, and the calculation of the commissions due with respect thereto.

 

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Article
4

SALES FORCE COMPOSITION

 

4.1 Product
Promotion Sales Force. Distributor shall use commercially reasonable efforts to Detail and Promote the Product throughout
the Territory and shall use commercially reasonable efforts to achieve incremental sales growth in each Calendar Quarter of the
Term. Distributor shall sell, Detail and Promote the Product by means of Representatives and/or through its Affiliates and/or
through its or their sub-distributors or consultants. In no event shall Distributor appoint any of the entities listed on Exhibit
D, or any Affiliate of any thereof, as a sub-distributor or consultant without the prior written approval of SWAI granted
in its sole discretion. Further, any appointment of a sub-distributor or consultant who is reasonably anticipated to be commissionable
on ten (10) percent or more of Net Sales in any Calendar Year shall be subject to the prior written consent of SWAI, which consent
shall not be unreasonably withheld, delayed or conditioned.

 

4.2 Promotional
Materials; Statements about the Product.

 

(a) Distributor
will establish Promotional Materials for the branding and marketing of the Product, including promoting the benefits provided
by using the Product; provided that SWAI shall have the right to approve in advance and in writing any Promotional Materials
which approval will not be unreasonably withheld or delayed; provided however that to the extent such Promotional Materials relate
to FDA registrations and approvals and/or other regulatory approvals related to the Product and/or any Product assurances or implicit
or explicit warranties concerning the Product, the approval of such portions of the Promotional Materials shall be granted in
the sole and absolute discretion of SWAI. Distributor will consult with SWAI to ensure appropriate representation of the Product.
Distributor, with the assistance of SWAI, will establish packaging and labeling physical configurations in accordance with the
Promotional Materials established pursuant to this Section 4.2. SWAI shall be solely responsible for specifying the content of
Product Labels and Inserts and for the compliance of such Product Labels and Inserts with all Applicable Laws. SWAI bears all
responsibility with respect to determining and specifying the shelf life of the Product and Distributor shall make no representations
regarding shelf life that are inconsistent with such determinations. It is understood and agreed that no Promotional Materials
will be used unless they have been reviewed and approved as set forth in this Section 4.2(a). Promotional Materials shall include
the Product Trademarks, except as prohibited by Applicable Law. In no event shall Distributor or its Representatives or Affiliates
extend any assurances or express or implied warranties concerning the Product that have not been expressly approved in advance
in accordance with this Agreement.

 

(b) Distributor
shall, and shall cause its Representatives to, use only the Promotional Materials that have been reviewed and approved as set
forth in Section 4.2(a) by the Parties in connection with the Promotion of the Product. Distributor shall ensure that the Promotional
Materials are used only in the form provided and not changed in any way (including by underlining or otherwise highlighting any
text or graphics or adding any notes thereto) by the Representatives or any other staff of Distributor or its Affiliates engaged
in the marketing, Promotion or Detailing of the Product.

 

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(c) Distributor
shall, and shall cause its Representatives to, immediately cease the use of any Promotional Materials where required by Applicable
Laws, to protect the goodwill represented by the Product Trademarks, or to avoid infringing a third-party mark or copyright. Distributor
shall, and shall cause its Representatives to, use the Promotional Materials only for the purposes contemplated by this Agreement.
All Promotional Materials in the possession of Distributor or its Representatives that incorporate SWAI Trademarks shall be delivered
to SWAI promptly upon the expiration or termination of this Agreement.

 

(d) Distributor
shall, and shall cause its Representatives to, make only such statements and claims regarding the Product, including as to efficacy
and safety, as are consistent with the Product Labels and Inserts and the Promotional Materials. Distributor shall not, and shall
cause its Representatives not to, make any untrue or misleading statements or comments about the Product, competitors or other
products.

 

(e) Each
Party agrees that if it breaches any of its obligations under this Section 4.2, the other Party will suffer serious and irreparable
harm for which monetary damages alone will be inadequate to compensate. Accordingly, each of the Parties agrees that a Party will,
in addition to any other remedies available to it, be entitled to injunctive relief in any court of competent jurisdiction to
enforce the terms of this Section 4.2. Notwithstanding the provisions of Section 20.3, a Party may commence to seek injunctive
relief within three (3) Business Days after written notice of a dispute under Section 4.2 is provided to the other Party and need
not wait for the conclusion of the negotiating period described therein to seek such remedy. If a Party establishes that the other
Party has breached its obligations under this Section 4.2 and prevails in an action for injunctive relief, the reasonable legal
fees and expenses incurred by the prevailing Party in connection with such litigation shall be reimbursed by the other Party.

 

4.3 Compliance
with Laws and Policies.

 

(a) Each
of Distributor and SWAI shall perform all of its respective obligations under this Agreement in compliance with all Applicable
Laws. Distributor shall instruct its Sales Force not to take any action inconsistent with this Agreement that could jeopardize
the goodwill or reputation of the Product, Distributor or SWAI.

 

(b) Distributor
shall be responsible for the compliance in all material respects by its personnel assigned to Promotion and Detail of the Product,
whether as employees or independent contractors or agents, with Applicable Laws. Distributor shall report to SWAI on or before
twenty (20) Business Days after the end of each Calendar Quarter all allegations it has received and/or investigations it, or
to its knowledge any Agency, has commenced with respect to the alleged failure by its Representatives to comply in any material
respect with Applicable Laws, and what action, if any, was taken as a result.

 

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Article
5

TRAINING

 

5.1 Training
Plans.

 

(a) As
part of its annual Business Plan, Distributor will establish training plans for members of its Sales Force who Detail and Promote
the Product.

 

5.2 Training
Programs.

 

(a) Distributor
shall, once per year, hold an in-person meeting for members of its Sales Force who Detail and Promote the Product. Distributor
shall provide SWAI with at least two (2) weeks prior written notice of the time and location of such in-person meeting, and SWAI
will have the opportunity to provide support training on the Product and present other relevant information regarding the Product
at such in-person meeting; provided that such training and presentation shall not be more than three (3) hours in duration.

 

(b) SWAI
shall, at Distributor’s expense, provide support training on the Product for the Sales Force who Detail and Promote the
Product upon the reasonable request of Distributor with at least two (2) weeks prior written notice at locations within the Territory
that Distributor has established.

 

Article
6

PRODUCT
PACKAGING

 

6.1 Product
Packaging. Distributor acknowledges that SWAI currently maintains on hand packaging for the Products that Distributor will
Promote and Detail under this Agreement. Any changes to such packaging will be subject to the approval of SWAI, such approval
not to be unreasonably withheld, delayed or conditioned. Any costs related to a change in Product packaging, including any increase
in the production cost to SWAI as a result of such modification and the cost of all packaging held in SWAI inventory that becomes
unusable or obsolete as a result of a change directed by Distributor, shall be promptly reimbursed to SWAI by Distributor.

 

Article
7

REPORTING
AND AUDITING

 

7.1 Recordkeeping.

 

(a) Subject
to Section 7.1(c), SWAI shall keep, or shall cause to be kept, complete and accurate books and records (financial and otherwise)
pertaining to the performance of its obligations hereunder.

 

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(b) Subject
to Section 7.1(c), Distributor shall keep, or shall cause to be kept, complete and accurate books and records (financial and otherwise)
pertaining to the performance of its obligations hereunder.

 

(c) All
financial books and records maintained by the Parties pursuant hereto shall be maintained in accordance with GAAP.

 

7.2 Intentionally
Deleted.

 

7.3 Product
Unit Reports. Within ten (10) Business Days after the end of each Calendar Month during the Term, SWAI shall submit to Distributor
a written report containing the following information with respect to such month:

 

(a) Intentionally
Deleted; and

 

(b) units
of Product (by size) in inventory as of the end of such Calendar Month.

 

Article
8

FORECASTING

 

No
later than the fifth (5th) Business Day of each Calendar Month during the Term, Distributor will provide to SWAI a
good faith forecast of estimated unit sales of the Product to Customers for such Calendar Month and the twelve month period beginning
with the start of such Calendar Month, with such forecast being broken out into separate forecasts for each Calendar Month within
such twelve month forecast (each, a “Forecast”). Each Forecast shall identify the anticipated unit sales of
the Product to Customers during the twelve (12) month period covered by such Forecast, broken out by Calendar Month. Each Forecast
shall be binding upon Distributor for the first three Calendar Months set forth in such Forecast (herein, a “Firm Commitment”).
The JOC will meet during the fourth Calendar Quarter of each Calendar Year during the Term to discuss the Forecast for the next
Calendar Year; provided, for clarity, the Forecast shall not be subject to the prior review or approval of the JOC. The
Firm Commitment set forth in any Forecast shall not exceed  [***] of the Firm Commitment set forth
in the Forecast delivered in the previous Calendar Month without the prior written consent of SWAI. SWAI will be obligated to
fill orders in any Calendar Month that are within the Firm Commitment for such Calendar Month except that if the Firm Commitment
for any three Calendar Month period exceeds 120% of actual Net Sales of Product by Distributor during the three month period immediately
preceding the three month period of such Firm Commitment, SWAI’s obligation to fill the excess portion of such Firm Commitment
is conditioned upon and subject to SWAI’s acceptance of such Firm Commitment and written acknowledgement of such acceptance
given to Distributor within ten (10) Business Days of the date of delivery of the Firm Commitment to SWAI.  SWAI’s
acknowledgement and acceptance will not be unreasonably withheld provided that lack of donor supply shall be deemed among the
reasonable bases for withholding such consent.

 

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Article
9

PRICING

 

9.1 Pricing;
Gross Profit Share.

 

(a) From
and after the Effective Date and continuing thereafter during the Term, the prices to be paid to SWAI by Distributor for Products
shall be as set forth on Exhibit B attached hereto.

 

(b) Not
later than 45 days after December 31 of each Calendar Year, Distributor shall deliver to SWAI its calculation of aggregate Net
Sales, Gross Profit and Gross Profit Margin. The calculations for the initial Calendar Year during the Term shall apply only to
the partial Calendar Year commencing with the Effective Date and ending December 31 of such Calendar Year. Distributor shall provide
SWAI with reasonable access, during normal business hours, to its books and records related to such calculations. SWAI shall have
the right to conduct a third party review of such books and records no more than once each Calendar Year through the use of an
independent accounting firm. If such audit yields a discrepancy of more than two percent (2%) of any reported number, Distributor
shall reimburse to SWAI the cost of such audit on demand.

 

(c) If
the Gross Profit Margin for such Calendar Year shall exceed [***] Percent ([***]%), then Distributor shall pay to SWAI as additional
purchase price for the Product produced and shipped by SWAI an amount equal to [***] of the Excess Amount no later
than sixty (60) days after the close of the applicable Calendar Year.

 

(d) In
the event that Distributor’s Gross Profit Margin for any full Calendar Year during the Term following December 31, 2018,
is less than [***]% (the “Base Year”) as a result of (i) any change in Applicable Laws, (ii) any decline in
reimbursement rates by the federal Centers for Medicare and Medicaid Services with respect to the Product, (iii) any technological
changes or advancements in the Wound Care Market or (iv) any combination of the factors described in the foregoing clauses (i)
–(iii) (collectively, (i) – (iv) the “Price Reducing Factors”), in any case, occurring any time
after the Effective Date, Distributor may request a reduction in the price charged by SWAI to Distributor by notice in writing
to SWAI given no more than forty-five (45) days following the end of such Calendar Year (a “Price Reduction Request”).
The Price Reduction Request shall specify the amount of the Gross Profit Margin for the just completed Base Year and shall propose
a reduction in price for the Products which in no event shall be at or below a price that, had such price been in effect for the
entirety of the Base Year, would have produced a Gross Profit Margin for Distributor of more than [***]% (the “Price
Proposal”). For the avoidance of doubt, with respect to any Calendar Year in which Gross Profit Margin is less than
[***]%, Distributor shall be entitled to invoke this Section 9.1(d) and provide a Price Reduction Request whether (a) one or more
Pricing Reducing Factors occurred during such Calendar Year causing Gross Profit Margin for that Calendar Year to be less than
[***]% or (b) the cumulative effect of one or more Price Reducing Factors that occurred during that Calendar Year and prior Calendar
Years caused Gross Profit Margin for that Calendar Year to be less than [***]%. For a period of forty-five (45) days following
the giving of the Price Reduction Request (the “Negotiation Period”), senior executives of Distributor and
SWAI shall use commercially reasonable efforts to meet, discuss and agree upon a mutually acceptable price reduction. On or before
the end of the Negotiation Period, the parties shall either:

 

(A) Mutually
agree to modify Exhibit B to incorporate new pricing acceptable to both parties;

 

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(B) SWAI
may give written notice to Distributor accepting the Price Proposal in which event Exhibit B shall be deemed modified to
incorporate the Pricing Proposal effective as of the date of such notice and Distributor and SWAI shall promptly amend such exhibit
accordingly;

 

(C) SWAI
may give written notice to Distributor to modify the Price Proposal to a price that is equal to SWAI’s standard cost of
inventory calculation for a Product item determined in accordance with its historical practice for the Base Year plus ten percent
(the “Minimum Product Price”) by written notice to Distributor, in which event Exhibit B shall be deemed
modified to set the price for Products sold by SWAI to Distributor hereunder at the Minimum Product Price effective as of the
date of such notice and Distributor and SWAI shall promptly amend such exhibit accordingly; or

 

(D) SWAI
may reject the Price Proposal by notice in writing to Distributor.

 

In
the event that SWAI elects option (D) above or fails to timely effect or elect any of the foregoing options described in subparagraphs
A-D, then Distributor shall, notwithstanding Section 3.3, be entitled to enter into discussions with alternate suppliers of the
Product following the expiration of the Negotiation Period and to solicit offers from or to enter into a non-binding term sheet
with an alternate supplier for the Products (“Alternate Supply Arrangement”) subject to the SWAI’s Right
of First Refusal Offer (as defined herein). Upon receipt of a written offer from the alternate supplier or a non-binding term
sheet with such supplier (a “Supply Offer”) for any Alternate Supply Arrangement that Distributor wishes to
accept, Distributor shall promptly provide SWAI with a written copy of such Supply Offer containing all relevant material terms
that differ from the terms of this Agreement (a “ROFR Notice”) and SWAI shall have the option, by delivering
written notice to Distributor no later than ten (10) days after receipt of the ROFR Notice, to amend this Agreement to incorporate
such terms, including with respect to pricing (“SWAI Right of First Refusal Offer”). If SWAI has not exercised
SWAI Right of First Refusal Offer within such ten (10) day period, Distributor shall be free to terminate this Agreement as of
the effective date of the Alternate Supply Arrangement (without any liability to SWAI) provided that Distributor consummates and
commences such Alternate Supply Arrangement on substantially the terms described in the ROFR Notice within six (6) months of the
ROFR Notice and gives SWAI at least ninety (90) days advance written notice of the effective date of termination. In no event
may Distributor enter into any Alternate Supply Arrangement on terms that are more favorable to the supplier than those set forth
in the ROFR Notice without again affording SWAI a new SWAI Right of First Refusal in accordance with the terms hereof.

 

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9.2 Payments.
SWAI will invoice Distributor monthly for all Products shipped to Distributor Customers in accordance with this Agreement during
that month. In the event, at the end of any Calendar Quarter, the number of Products actually shipped by SWAI during such Calendar
Quarter (the “Actual Units”) is less than the Firm Commitment for such Calendar Quarter (the “Firm
Commitment Units” and the number of units by which the Actual Units is less than the Firm Commitment Units, the “Shortfall
Units”), SWAI will include in the invoice for the last Calendar Month of such Calendar Quarter, and Distributor shall
purchase from SWAI, the Shortfall Units. SWAI shall ship all Shortfall Units to Distributor in accordance with Article 11. All
amounts due and payable by Distributor shall be paid in full by Distributor within forty five (45) days following receipt of invoice.
Whenever any amount hereunder is due on a day that is not a Business Day, such amount shall be paid on the next Business Day.
Any amount not paid when due shall incur a late charge of two percent (2%) of the invoice amount and shall bear interest from
the date due until the date of payment at a per annum interest rate equal to ten percent (10%) per annum. 

 

9.3 Expenses.
Subject to Section 11.3 hereof, each Party shall bear and be solely responsible for all costs and expenses incurred by it in connection
with the Detailing and Promotion of the Product and the performance of its obligations hereunder.

 

9.4 Form
of Payment. All payments made by Distributor required under this Article 9 shall be in United States Dollars and shall be
made by wire transfer of immediately available funds to an account designated in writing by SWAI.

 

Article
10

JOINT OVERSIGHT COMMITTEE

 

10.1 Joint
Oversight Committee.

 

(a) Within
sixty (60) days after the Effective Date, the Parties shall establish a joint oversight committee (the “JOC”).
The JOC shall oversee the performance of the Parties’ activities under this Agreement, as set forth herein, and provide
a forum for sharing advice, progress, and results relating to such activities and shall attempt to facilitate the resolution of
any disputes between the Parties. The JOC shall appoint and oversee subcommittees as it deems appropriate for carrying out activities
under this Agreement, and shall review the overall progress of the Parties’ collaborative efforts under this Agreement.

 

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(b) The
JOC shall be composed of three (3) members from each of SWAI and Distributor or such equal number of members as the Parties may
agree, and shall meet, in person, by teleconference, or by video-teleconference, at least one time per Calendar Quarter, or more
or less often as unanimously agreed by both Parties’ JOC members (provided that in any event, the Parties meet at least
two times per Calendar Year in person). Either Party may reasonably call a meeting upon no less than fifteen (15) Business Days’
notice. In-person meetings shall alternate between SWAI and Distributor locations, or as mutually agreed upon by the Parties.
Each Party shall be responsible for all of its own personnel and travel costs and expenses relating to participation in JOC meetings.
The first such meeting shall be within sixty (60) days after the Effective Date. Any member of the JOC may designate a substitute
to attend with prior written notice to the other Party. Ad hoc guests who are subject to written confidentiality obligations commensurate
in scope to the provisions in Article 13 may be invited, upon prior joint consent of Distributor and SWAI, to the JOC meetings.
Each Party may replace its JOC members with other of its employees, at any time, upon written notice to the other Party.

 

(c) Decisions
of the JOC shall be made by unanimous vote or written consent, with each Party having collectively one vote in all decisions.
The presence of at least one (1) JOC member representing each Party shall constitute a quorum in order for decisions to be made.
The JOC shall have only such powers as are specifically delegated to it in this Agreement, and such powers shall be subject to
the terms and conditions set forth herein. Amendments or changes to this Agreement shall be valid and binding only upon mutual
written agreement of the Parties in accordance with Section 20.10 and the JOC shall have no authority to amend, change or modify
the terms and conditions of this Agreement. The JOC shall use reasonable best efforts to resolve the matters within its roles
and functions or otherwise referred to it.

 

(i) If,
with respect to a matter that is subject to the JOC’s decision-making authority: (i) the JOC cannot reach consensus within
five (5) Business Days after it has met and attempted to reach such consensus or (ii) the Parties cannot reach consensus on whether
the JOC has decision-making authority regarding a matter within three (3) Business Days after such matter was first raised by
either Party (each of the foregoing cases, a “JOC Dispute”); then in each such instance, the JOC Dispute in
question shall be referred to the designated officers set forth in Section 20.3 for resolution. The designated officers shall
use reasonable efforts to resolve the JOC Dispute referred to them.

 

(ii) The
designated officers shall meet to resolve the JOC Dispute (the “Designated Officer Meeting”) within five (5)
Business Days of such dispute being referred to them pursuant to Section 10.1(c)(i). If the designated officers are unable to
resolve the JOC Dispute at the Designated Officer Meeting, the provisions of this Section 10.1(c)(ii) shall control:

 

(A) if
the JOC Dispute solely relates to the manufacturing of the Product; regulatory approval and compliance related to the procurement,
processing/manufacturing, storing and shipping of the Product; express or implied warranties, or Promotional Materials related
thereto; or validation of packaging and shipping materials for the Product, and the designated officers cannot resolve the matter
at the Designated Officer Meeting, then the matter shall be decided by the designated officer of SWAI in good faith, giving appropriate
consideration to the reasonable business, regulatory and scientific concerns of Distributor; and

 

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(B) if
the JOC Dispute solely relates to commercial activities, including the Sales Force, training, marketing plans, Detailing, Promoting,
pricing of the Product, Forecasts, conferences, graphic design for final packaging, sales channels or sale of the Product; clinical
research for purposes of maintaining and/or obtaining reimbursement coverage; and regulatory compliance for marketing and selling
of the Product, and the designated officers cannot resolve the matter at the Designated Officer Meeting, then the matter shall
be decided by the designated officer of Distributor in good faith, giving appropriate consideration to the reasonable business,
regulatory and scientific concerns of SWAI.

 

(C) Notwithstanding
Sections 10.1(c)(ii)(A) and 10.1(c)(ii)(B) above, any dispute relating to Article 9 or any financial term or financial obligation
of a Party under this Agreement, or any dispute related to any decision or action by a Party that would result in a material increase
in the other Party’s direct or indirect costs to carry out such other Party’s obligations under this Agreement, shall
be excluded from the provisions of this Section 10.1(c)(ii) and shall be conclusively settled in accordance with Section 20.3
below.

 

10.2 Preparation
and Adoption of Annual Business Plans. Each of Distributor and SWAI shall prepare and submit its respective Business Plan
for each Calendar Year of the Term to the JOC for discussion and recommendations no later than sixty (60) days prior to adoption
by Distributor or SWAI, respectively or the November 1st prior to the Calendar Year to which such Business Plan applies,
whichever is earlier. Each Party shall consider in good faith the recommendations of the JOC before it adopts and implements its
Business Plan, and any amendments thereto.

 

10.3 Preparation
and Adoption of Business Continuity Plan. On or before the Effective Date, SWAI shall prepare and submit to Distributor a
Business Continuity Plan acceptable to Distributor. SWAI shall not amend or modify the Business Continuity Plan without the prior
written consent of Distributor which consent shall not be unreasonably withheld.

 

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Article
11

PRODUCT SUPPLY

 

11.1 Orders
for Products by Customers; Invoicing of Customers. So long as Distributor shall not be past due on any open invoices (in which
event SWAI would have the right to suspend shipments during the course of any delinquency), SWAI shall accept all orders with
respect to the Product submitted by Distributor that do not exceed the permitted Firm Commitment with respect to the Calendar
Month in which the orders are placed. So long as Distributor shall not be past due on any open invoices, SWAI shall use commercially
reasonable efforts to fill orders in excess of such amount but shall not be in default of its obligations hereunder in the event
that it is unable to fill orders in excess of such permitted Firm Commitment. SWAI shall ship the Products currently twenty-four
hours following receipt of the order (excluding any period included in non-Business Days). SWAI shall not be deemed in breach
of this Section 11.1 so long as its average ship time in any Calendar Month meets or exceeds such standard. SWAI shall promptly
notify Distributor in writing (a “Non-fulfillment Notice”) if at any time SWAI does not have the Minimum Inventory
on hand. In the event SWAI fails to supply 90% of the Product required to meet the permitted Firm Commitment submitted by Distributor
in accordance herewith or gives a Non-fulfillment Notice to Distributor, then SWAI shall promptly procure a secondary supplier
to assist with supplying any shortfalls with any incremental costs being the sole responsibility of SWAI. In the event SWAI fails
to supply 90% of the Product required to meet the permitted Firm Commitment submitted by Distributor in accordance herewith in
two consecutive Calendar Quarters of a Forecast, such failure shall constitute a breach of this Section 11.1. SWAI will maintain
a one hundred twenty (120) day supply inventory of the Products on Exhibit C updated periodically to reflect the latest
permitted Firm Commitment of Distributor provided to SWAI in accordance with the terms hereof.

 

11.2 Pricing
and Terms of Sale of Product. Distributor shall have the sole right to establish and modify the terms and conditions of the
sale of the Product to Customers, including the price at which the Product will be sold, whether the Product will be subject to
any trade or quantity discounts, whether any discount will be provided for payments on accounts receivable, whether the Product
will be subject to rebates, returns and allowances or retroactive price reductions, and shipping of the Product but expressly
excluding the issuance of any express or implied warranty concerning the Product. Distributor shall have the sole right to grant
or refuse credit in connection with the sale of the Product to Customers.

 

11.3 Product
Shipping. All Product orders fulfilled by SWAI shall be free on board SWAI’s shipping dock at its designated processing
facility (the “Shipping Dock”). All shipping costs incurred to transport the Product to the Customer shall
be at the sole cost and expense of Distributor. Until such time as Distributor shall elect to directly assume responsibility for
picking up the Product at the Shipping Dock, arranging and coordinating third party overnight commercial shipping through a nationally
recognized courier service that handles special shipping of cryopreserved or chilled containers (a “Qualified National
Shipper”), and directly paying such carriers for all shipping costs by written notice to SWAI (herein, an “Assumption
of Shipping Responsibility Notice”), SWAI shall contract with a Qualified National Shipper of its choosing (and reasonably
acceptable to Distributor) to pick up Product from the Shipping Dock and ship each Product package to the Customer under standard
shipping terms for such special product at its expense. SWAI shall invoice Distributor and Distributor shall reimburse SWAI for
the costs of shipping in accordance with the terms of the Services Agreement. The effective date of any Assumption of Shipping
Responsibility Notice shall be thirty (30) days following the giving of such notice under the Services Agreement unless the Parties
shall mutually agree to a different effective date for the shifting of shipping responsibility to Customers. From and after the
effective date of the Assumption of Shipping Responsibility Notice, Distributor shall be solely responsible for picking up the
Product at the Shipping Dock, arranging and coordinating third party overnight commercial shipping on a timely basis through a
Qualified National Shipper and paying the costs of such freight directly to the vendor. SWAI will act in good faith and use its
commercially reasonable efforts to obtain competitive shipping rates from the Qualified National Shipper.

 

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11.4 Recalled
Product. At SWAI’s request, Distributor shall assist SWAI in obtaining any Product, including all samples thereof, that
has been recalled or withdrawn from the market.

 

(a) If
any recall or withdrawal of Product distributed on or after the Effective Date arises in whole from the negligence, breach of
this Agreement or willful misconduct of Distributor or any of its Affiliates, agents or employees, Distributor shall, in addition
to its obligations under Article 16, be solely responsible for all costs and expenses relating to such recall or withdrawal and
will reimburse SWAI for all of SWAI’s out of pocket costs and expenses incurred by SWAI in connection with the recall or
withdrawal including, but not limited to, costs of retrieving Product already delivered to Customers and costs and expenses SWAI
is required to pay for notification, shipping and handling charges.

 

(b) If
any recall or withdrawal of Product distributed on or after the Effective Date arises in whole from the negligence, breach of
this Agreement or willful misconduct of SWAI or any of its Affiliates, agents or employees, SWAI shall, in addition to its obligations
under Article 16, be solely responsible for all costs and expenses relating to such recall or withdrawal and will reimburse Distributor
for all of Distributor’s out of pocket costs and expenses incurred by Distributor in connection with the recall or withdrawal
including, but not limited to, costs of retrieving Product already delivered to Customers, costs and expenses Distributor is required
to pay for notification, shipping and handling charges and replacement of Product to such Customer(s).

 

(c) If
each Party (or any of their respective Affiliates, agents or employees) contributes to the cause for a recall or withdrawal, the
expenses actually incurred by the Parties as a result of such recall or withdrawal will be shared by the Parties in proportion
to each Party’s responsibility.

 

11.5 Regulatory
Requirements. SWAI shall manufacture, store, ship, use, process, package, label, and receive returns for re-inventorying and
re-shipping of, and source or harvest raw materials or tissues for, the Product in compliance with all Applicable Laws and all
product safety standards of each applicable product safety agency, commission, board or other Agency. SWAI has obtained and will
maintain all required FDA registrations, licenses, permits, approvals, certificates, clearances, authorizations, and/or has made
all required notifications to the FDA that are necessary for the manufacture, promotion, use, sale, processing, packaging, labeling,
and distribution of, and sourcing and harvesting raw materials and tissue for, the Product, provided that SWAI shall have no responsibility
for the compliance with Applicable Laws of (i) Promotional Materials created by Distributor, (ii) acts undertaken by the Distributor
or its Affiliates in connection with the Promotion of the products, including acts which are in violation of the terms of this
Agreement; (iii) the Distributor Product Trademarks, or (iv) Distributor Intellectual Property.

 

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Article
12

REGULATORY MATTERS

 

12.1 Ownership
of Regulatory Documentation and Approvals. SWAI or its Affiliates, as the case may be, shall own all right, title and interest
in and to (a) all regulatory documentation with respect to the Product, except the Trademark for the brand name TheraSkin®,
and all information contained therein and (b) all regulatory approvals made or granted with respect to the Product, except the
Trademark for the brand name TheraSkin®.

 

12.2 Regulatory
Approval. Distributor will solely fund and support existing and future clinical studies to obtain any necessary reimbursement
approvals for TheraSkin, and will solely fund and maintain the Distributor Product Trademarks. SWAI will solely fund and maintain
or obtain FDA registrations and approvals and other regulatory approvals, as required, for the manufacture, storage and shipment
of the Product.

 

12.3 Regulatory
Reports; Meetings with Regulatory Authorities. Each Party shall keep the other Party informed of material regulatory developments
relating to Products in the Territory through regular reports at the JOC meetings. Each Party shall provide the other Party, for
review and comment, significant draft material regulatory filings at least twenty (20) Business Days in advance of their intended
date of submission to the extent possible and on a rolling basis as needed to any Agency in any jurisdiction within the Territory
and shall consider any comments thereto provided by such other Party. Each Party shall notify the other Party as soon as practical
of any regulatory materials related to the Product (other than routine correspondence) submitted to or received from any Agency
in any jurisdiction within the Territory and shall provide such other Party with copies thereof within twenty (20) Business Days
after submission or receipt. Each Party shall provide the other Party with reasonable advance notice of all meetings scheduled
with any Agency in any jurisdiction within the Territory concerning the Product to the extent such meeting affects this Agreement
and/or such other Party’s obligations hereunder, and shall consider any input from such other Party in preparing for such
meetings, and in the Party's sole discretion and if permitted by the relevant Agency, appropriate personnel from such other Party
may have the right to attend such meetings at its own expense.

 

12.4 Notification
of Threatened Action. Each Party shall immediately notify the other Party of any information it receives regarding any threatened
or pending action, inspection or communication by or from any third party, including any Agency, which may materially affect the
development, Promotion or regulatory status of the Product. Upon receipt of such information, the Parties shall consult with each
other in an effort to arrive at a mutually acceptable procedure for taking appropriate action.

 

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12.5 Remedial
Actions. Each Party shall notify the other Party immediately, and promptly confirm such notice in writing, if it obtains information
indicating that the Product may be subject to any recall, corrective action or other regulatory action with respect to the Product
taken by virtue of Applicable Laws (a “Remedial Action”). The Parties shall assist each other in gathering
and evaluating such information as is necessary to determine the necessity of conducting a Remedial Action. Each Party shall,
and shall ensure that its Affiliates will, maintain adequate records to permit the Parties to trace the distribution and use of
the Products. Distributor shall have the right to decide whether any Remedial Action with respect to the Product should be commenced
and Distributor shall control and coordinate all efforts necessary to conduct such Remedial Action. Upon Distributor’s reasonable
request, SWAI shall reasonably cooperate with, and provide reasonable assistance to, Distributor in connection with any activities
undertaken by Distributor pursuant to the immediately preceding sentence, at Distributor’s sole cost and expense.

 

12.6 Quality
Agreement. The Parties shall enter into and execute a Quality Agreement within sixty (60) days of the Effective Date, which
shall govern, inter alia, complaint handling, MDR reporting, recalls and other matters. In the context of the quality arrangements,
Distributor shall be allowed to make an initial quality inspection, and thereafter periodic quality inspections, at any manufacturing
site at which SWAI manufactures any Product or proposes to manufacture any Product in the future during the Term.

 

12.7 Tissue
Bank Intermediary Status. Distributor or one of its Affiliates may, at its sole and absolute discretion, seek and secure Tissue
Bank Intermediary status with the FDA.

 

Article
13

CONFIDENTIALITY

 

13.1 Confidential
Information. Except to the extent expressly permitted by this Agreement and subject to the provisions of Sections 13.2 and
13.3, at all times during the Term and for two (2) years following the expiration or termination hereof, the Receiving Party (a)
shall keep completely confidential and shall not publish or otherwise disclose any Confidential Information furnished to it by
the Disclosing Party, except to those of the Receiving Party’s employees, Affiliates, consultants or representatives who
have a need to know such information (collectively, “Recipients”) to perform such Party’s obligations
hereunder and (b) shall not use Confidential Information of the Disclosing Party directly or indirectly for any purpose other
than performing its obligations hereunder. The Receiving Party shall be liable for any breach by any of its Recipients of the
restrictions set forth in this Agreement.

 

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13.2 Exceptions
to Confidentiality. The Receiving Party’s obligations set forth in this Agreement shall not extend to any Confidential
Information of the Disclosing Party:

 

(a) that
is or hereafter becomes part of the public domain through no wrongful act, fault or negligence on the part of a Receiving Party
or its Recipients;

 

(b) that
is received from a third party without restriction and without breach of any agreement or fiduciary duty between such third party
and the Disclosing Party;

 

(c) that
the Receiving Party can demonstrate by competent evidence was already in its possession without any limitation or restriction
on use or disclosure prior to its receipt from the Disclosing Party;

 

(d) that
is generally made available to third parties by the Disclosing Party without any restriction imposed by the Disclosing Party on
disclosure, whether such restriction is by contract, fiduciary duty or by operation of law; or

 

(e) that
the Receiving Party can demonstrate by competent evidence was independently developed by the Receiving Party without any reference
to Confidential Information.

 

13.3 Authorized
Disclosure. Each Party and its Recipients may disclose Confidential Information to the extent that such disclosure is made
in response to a valid order of a court of competent jurisdiction or other Agency; provided, however, that the Receiving Party
shall first have given notice to the Disclosing Party and given the Disclosing Party a reasonable opportunity to quash such order
or to obtain a protective order requiring that the Confidential Information and/or documents that are the subject of such order
be held in confidence by such court or Agency or, if disclosed, be used only for the purposes for which the order was issued;
and provided further that if a disclosure order is not quashed or a protective order is not obtained, the Confidential Information
disclosed in response to such court or governmental order shall be limited to that information that is legally required to be
disclosed in such response to such court or governmental order.

 

13.4 Notification.
The Receiving Party shall notify the Disclosing Party immediately, and cooperate with the Disclosing Party as the Disclosing Party
may reasonably request, upon the Receiving Party’s discovery of any loss or compromise of the Disclosing Party’s Confidential
Information.

 

13.5 Destruction
of Confidential Information. Upon the expiration or earlier termination of this Agreement or the written request by the
Disclosing Party, whichever occurs first, the Receiving Party shall (a) destroy all tangible embodiments of Confidential Information
of the Disclosing Party, including any and all copies thereof, and those portions of any documents, memoranda, notes, studies
and analyses prepared by the Receiving Party or its Recipients that contain, incorporate or are derived from such Confidential
Information and provide written certification of such destruction to the Disclosing Party in a form reasonably acceptable to the
Disclosing Party, provided that the legal department of the Receiving Party shall have the right to retain one copy of any such
tangible embodiments for archival purposes, and (b) immediately cease, and shall cause its Recipients to cease, use of such Confidential
Information as well as any information or materials that contain, incorporate or are derived from such Confidential Information.

 

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13.6 Remedies.

 

(a) In
the event that a Party breaches Section 13.1 and, if such breach is curable using reasonable efforts, fails to cure such breach
or if such breach is not curable using reasonable efforts, fails to discontinue such breach, in each case within a reasonable
period (not to exceed ninety (90) days) after receiving notification of such breach from the other Party, the other Party may
terminate this Agreement by providing written notice of such termination to the breaching Party.

 

(b) The
Parties acknowledge and agree that the restrictions set forth in Section 13.1 are reasonable and necessary to protect the legitimate
interests of the Parties and that neither Party would have entered into this Agreement in the absence of such restrictions, and
that any breach or threatened breach of any provision of Section 13.1 will result in irreparable injury to the other Party for
which there will be no adequate remedy at law. In the event of a breach or threatened breach of any provision of Section 13.1
by a Party, the other Party shall be authorized and entitled to obtain from any court of competent jurisdiction injunctive relief,
whether preliminary or permanent, specific performance and an equitable accounting of all earnings, profits and other benefits
arising from such breach, which rights shall be cumulative and in addition to any other rights or remedies to which such Party
may be entitled in law or equity. The breaching Party agrees to waive any requirement that the non-breaching Party (i) post a
bond or other security as a condition for obtaining any such relief and (ii) show irreparable harm, balancing of harms, consideration
of the public interest or inadequacy of monetary damages as a remedy. Nothing in this Section 13.6(b) is intended, or shall be
construed, to limit the Parties’ rights to equitable relief or any other remedy for a breach of any provision of this Agreement.

 

13.7 Disclosure
of Terms. Each Party shall keep the terms of and the transactions covered by this Agreement confidential and shall not
disclose such information to any other Person through a press release or otherwise (other than its lenders and professional advisors
each of whom shall be instructed to maintain the confidentiality thereof and, in the case of Distributor, any potential investor
and/or any potential counterparty to a Change of Control transaction (specifically excluding any Person or entity listed on Exhibit
D) upon such party’s customary undertaking of confidentiality). Distributor shall not mention or otherwise use the name,
insignia, symbol, trademark, trade name or logotype of SWAI or its Affiliates in any manner without the prior written consent
of SWAI in each instance. The restrictions imposed by this Section shall not prohibit either Party from making any disclosure
that is required by Applicable Law, rule or regulation or the requirements of a national securities exchange or another similar
regulatory body. Further, the restrictions imposed on each Party under this Section 13.7 are not intended, and shall not be construed,
to prohibit a Party from identifying the other Party in its internal business communications, provided that any Confidential Information
in such communications remains subject to this Article 13.

 

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Article
14

INTELLECTUAL PROPERTY RIGHTS

 

14.1 Intellectual
Property. Subject to Section 4.2, Distributor shall Promote the Product only under the Product Trademarks. SWAI hereby grants
Distributor a non-exclusive, royalty-free license to use the SWAI Trademarks to Promote and Detail the Product solely for purposes
of performing Distributor’s obligations hereunder, which license shall terminate upon the expiration or earlier termination
of this Agreement for any reason. All Promotional Materials or other uses incorporating SWAI Trademarks for such purpose shall
be subject to the prior approval of SWAI (such approval not to be unreasonably withheld, delayed or conditioned). Distributor
hereby grants to SWAI the non-exclusive, royalty-free license to use the Distributor Product Trademarks, Product Trademarks and
Product Copyrights solely for purposes of performing SWAI’s obligations hereunder, which license shall terminate upon the
expiration or earlier termination of this Agreement for any reason. Distributor shall have the right to grant sublicenses of the
license granted in this Section 14.1; provided that Distributor may not grant a sublicense to any Person listed on Exhibit
D without the prior written consent of SWAI granted in its sole discretion. For the avoidance of doubt, Distributor is the
owner of the registered TheraSkin® Trademark. The Parties acknowledge that the use of the SWAI Intellectual Property by Distributor
Representatives is solely for purposes of performing the Parties’ respective obligations under this Agreement shall not
be deemed licenses or sub-licenses under this Agreement.

 

14.2 No
Ownership or Rights in Intellectual Property. Except for the limited license expressly set forth in Section 14.1, nothing
in this Agreement shall give Distributor or any of its Affiliates any right, title or interest in and to the Allograft, the SWAI
Trademarks, the Allograft patents or any other Trademarks, the SWAI Intellectual Property, or other intellectual property that
SWAI, or its Affiliates, as the case may be, own, license (from anyone other than Distributor) or maintain. Except for the limited
license expressly set forth in Section 14.1 and except as set forth in Section 14.3, nothing in this Agreement shall give SWAI
or any of its Affiliates any right, title or interest in and to the Product Trademarks, Distributor Product Trademarks or any
other Trademarks or other intellectual property that Distributor, or its Affiliates, as the case may be, own, license (from anyone
other than SWAI) or maintain.

 

14.3 TheraSkin
Trademark License. In order to continue to afford to SWAI an opportunity to preserve the value of its business following termination
of the Agreement by effecting a period of transition for the continued marketing of the Product under the TheraSkin name and accompanying
reimbursement codes, Distributor shall, on the date of the Closing, execute and deliver a modification of the Original License
Agreement in the form of the amended and restated license attached as Exhibit E (the “License”), which,
upon effectiveness of this Agreement at Closing, shall amend and restate the Original License Agreement, continuing to grant to
SWAI a non-exclusive license to use the Distributor Product Trademarks for a period of twenty-four months following termination
of the Agreement excluding any termination by Distributor effected under Section 19.2(a) or Section 19.2(d). Following termination
of the Agreement, SWAI may also elect to develop a new service mark to promote and distribute the Product that may be used along
or in conjunction with the Distributor Product Trademark. Following termination of this Agreement, neither Distributor nor any
Affiliate of Distributor shall challenge any such trademark or servicemark used by SWAI following termination of this Agreement
that contains either, but not both of, the terms “Thera” or “Skin” (for the avoidance of doubt as long
as such mark does not include the term “Skin”, if it includes the term “Thera”, and does not include the
term “Thera”, if it includes the term “Skin”), or any other term included in any registered mark currently
or in the future held by Distributor or any of its Affiliates or any successor under the Agreement (other than “Thera”
or “Skin” as provided in this sentence) as part of the mark.

 

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14.4 Intellectual
Property Infringement.

 

(a) Each
Party shall promptly notify the other Party of any actual infringement of the Product Trademarks, Product Copyrights, Product
Patents, SWAI Trademarks, or Distributor Product Trademarks by a third party of which it becomes aware or reasonably believes
to exist.

 

(b) In
the event of any infringement of any SWAI Trademark, Product Labels and Inserts (specifically excluding infringement of Distributor
Product Trademarks or Product Trademarks incorporated therein) or Product Patent by any Person, then as between SWAI, on the one
hand, and Distributor and its Affiliates, on the other, SWAI, at its sole expense, shall have the sole right (but not the obligation)
to commence, maintain or terminate, whether by settlement or otherwise, any action to enforce its rights in such SWAI Trademark,
Product Labels and Inserts (specifically excluding Distributor Product Trademarks or Product Trademarks incorporated therein)
or Product Patent and pursue injunctive, compensatory and other remedies and relief against such Person. SWAI shall have the right
to retain all damages and other proceeds resulting from any such actions. If SWAI elects to commence any action referred to in
this Section 14.4(b), Distributor, at SWAI’s expense, shall use all reasonable efforts to assist and cooperate with SWAI
as requested by SWAI in such actions. SWAI shall not consent to the entry of any judgment or enter into any settlement with respect
to any such action without the prior written consent of Distributor (not to be unreasonably withheld or delayed) if such judgment
or settlement would enjoin or grant other equitable relief against Distributor or otherwise materially and adversely affect Distributor.

 

(c) In
the event of any infringement of any Distributor Product Trademark, Product Trademark or Product Copyright (other than copyrights
related to material included in Product Labels and Inserts other than Distributor Product Trademarks and Product Trademarks) by
any Person, Distributor, at its sole expense, shall have the sole right and the obligation to use commercially reasonable efforts
to commence, maintain or terminate, whether by settlement or otherwise, any action to enforce its rights in such Distributor Product
Trademark, Product Trademark and Product Copyright (other than copyrights related to material included in Product Labels and Inserts
other than Distributor Product Trademarks and Product Trademarks) and pursue injunctive, compensatory and other remedies and relief
against such Person. Distributor shall have the right to retain all damages and other proceeds resulting from any such actions.
SWAI, at Distributor’s expense, shall use all commercially reasonable efforts to assist and cooperate with Distributor as
requested by Distributor in such actions.

 

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(d) Subject
to the terms and conditions of this Agreement, including Article 16 and Sections 19.2(a)(iv) and 19.3, if, as a result of any
such action, a judgment is entered by a United States court of competent jurisdiction, or a settlement is entered into by SWAI
or Distributor pursuant to the terms of Section 14.4, enjoining the marketing or Promotion of the Product in the Territory or
the use of any Product Trademark or Product Copyright in connection with the marketing or Promotion of the Product in the Territory,
then Distributor and its Affiliates shall cease marketing and Promoting the Product in the Territory or using such Product Trademark
or Product Copyright in connection with the marketing and Promotion of the Product in the Territory, as applicable, so long as
such injunction remains in effect.

 

14.5 Independent
Development. Each Party and its Affiliates may engage in research and development and may otherwise develop and acquire intellectual
property rights independent of the other Party and each Party acknowledges that nothing in this Agreement shall be construed as
granting to it, by implication or otherwise, any rights or license with respect to any such intellectual property rights, except
to the extent expressly included herein or in a separate written agreement between the Parties. Any cooperation between the Parties
to develop products and solutions for the Wound Care Market shall be pursuant to a separate written agreement between the Parties.

 

Article
15

REPRESENTATIONS AND WARRANTEES

 

15.1 Representations
and Warranties of Each Party. Each Party represents and warrants to the other Party as follows: (i) it is a duly organized
and validly existing limited liability company organized under the laws of Virginia; (ii) it has full limited liability company
power and authority and has taken all limited liability company action necessary to enter into and perform this Agreement, the
License and the Services Agreement; (iii) the execution and delivery of this Agreement, the License and the Services Agreement
and the performance of its obligations hereunder and under the License and Services Agreement do not and will not violate, conflict
with, or constitute a default under its charter or similar organization document, its operating agreement, any Applicable Laws,
or the terms or provisions of any material agreement or other instrument to which it is a party or by which it is bound, or any
order, award, judgment or decree to which it is a party or by which it is bound; and (iv) each of this Agreement, the License
and the Services Agreement is its legal, valid and binding obligation, enforceable in accordance with its terms subject to applicable
bankruptcy, insolvency and other similar laws affecting the enforceability of creditors’ rights generally, general equitable
principles and the discretion of courts in granting equitable remedies.

 

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15.2 Representations
and Warranties of SWAI. SWAI represents and warrants to Distributor as follows:

 

(a) Non-Infringement
of Third Party Rights. As of the Agreement Date, SWAI has not received any written claim alleging that the manufacture, use
or sale of the Product in the Territory infringes or misappropriates the patent rights or other intellectual property rights of
any third party, and, to the Knowledge of SWAI, the manufacture, use or sale of the Product in the Territory does not infringe
or misappropriate the patent rights or other intellectual property rights of any third party.

 

(b) EXCEPT
AS EXPRESSLY SET FORTH IN THIS AGREEMENT, SWAI MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING,
WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON- INFRINGEMENT, OR VALIDITY, CONCERNING
THE PRODUCT, THE PRODUCT PATENTS, THE PRODUCT COPYRIGHTS, OR THE PRODUCT TRADEMARKS.

 

(c) Product
Quality. The Product, when shipped, will be free from defects and shall conform in all material respects with the product
specifications.

 

15.3 Representations
and Warranties of Distributor. Distributor represents and warrants to SWAI as follows:

 

(a) Title
to Trademarks. As of the Agreement Date, Distributor has good and valid title to the TheraSkin® Trademark, except for
liens Distributor has granted on its assets securing indebtedness owed by Distributor to certain secured lenders, and subject
to Original License Agreement.

 

(b) Non-Infringement
of Third Party Rights. As of the Agreement Date, Distributor has not received any written claim alleging that the use of the
Product Trademarks, the Distributor Product Trademarks, or the Product Copyrights in the Territory infringes or misappropriates
the intellectual property rights of any third party, and, to the Knowledge of Distributor, use of the Product Trademarks, the
Distributor Product Trademarks, or the Product Copyrights in the Territory does not infringe or misappropriate the intellectual
property rights of any third party.

 

(c) EXCEPT
AS EXPRESSLY SET FORTH IN THIS AGREEMENT, DISTRIBUTOR MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED,
INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR VALIDITY,
CONCERNING THE PRODUCT, THE PRODUCT PATENTS, THE PRODUCT TRADEMARKS, THE DISTRIBUTOR PRODUCT TRADEMARKS, OR THE PRODUCT COPYRIGHTS.

 

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Article
16

INDEMNIFICATION

 

16.1 Indemnification
of SWAI. Distributor shall defend, indemnify and hold harmless SWAI, its Affiliates and its and their respective officers,
directors, employees and agents (the “SWAI Indemnified Parties”) from and against any and all Losses incurred
by them to the extent resulting from or arising out of or in connection with (a) any breach of any obligation in this Agreement,
the License, or the Services Agreement by Distributor and its Affiliates, (b) the inaccuracy or breach of any representation or
warranty made by Distributor and its Affiliates in this Agreement, the License or the Services Agreement and (c) any claim by
a third party alleging that the use of the Distributor Product Trademarks or Product Trademarks infringes the intellectual property
rights of such third party. Notwithstanding anything in this Section 16.1 to the contrary, Distributor shall not be obligated
to indemnify any SWAI Indemnified Parties from and against any Losses to the extent the Losses arise as a result of negligence
or willful misconduct on the part of any SWAI Indemnified Parties, as a result of the breach of this Agreement by any of the SWAI
Indemnified Parties or based on an allegation that the SWAI Trademarks, Product Labels and Inserts (specifically excluding claims
related to Distributor Product Trademarks or Product Trademarks incorporated therein) or Product Patents are infringing the rights
of a third party.

 

16.2 Indemnification
of Distributor. SWAI shall defend, indemnify and hold harmless Distributor, its Affiliates and its and their respective officers,
directors, employees and agents (the “Distributor Indemnified Parties”) from and against any and all Losses
incurred by them to the extent resulting from or arising out of or in connection with (a) any breach of any obligation in this
Agreement or the Services Agreement by SWAI, (b) the inaccuracy or breach of any representation or warranty made by SWAI in this
Agreement, and (c) product liability or intellectual property infringement claims resulting from the manufacture, promotion or
sale of the Product. Notwithstanding anything in this Section 16.2 to the contrary, SWAI shall not be obligated to indemnify the
Distributor Indemnified Parties from and against any Losses to the extent the Losses arise as a result of negligence or willful
misconduct on the part of any Distributor Indemnified Parties, as a result of the breach of this Agreement by any of the Distributor
Indemnified Parties or based on an allegation that the Distributor Product Trademarks, Product Trademarks or Product Copyrights
(other than copyrights related to material included in Product Labels and Inserts other than Distributor Product Trademarks and
Product Trademarks) are infringing the rights of a third party.

 

16.3 Notice
of Claim. An Indemnified Party shall give the Indemnifying Party prompt written notice of any Loss or discovery of fact upon
which such Indemnified Party intends to base a request for indemnification under Section 16.1 or 16.2 (an “Indemnification
Claim Notice”). In no event shall the Indemnifying Party be liable for any Loss that results from any delay in providing
the Indemnification Claim Notice. Each Indemnification Claim Notice shall contain a description of the claim and the nature and
amount of the Loss claimed (to the extent that the nature and amount of such Loss is known at such time). The Indemnified Party
shall furnish promptly to the Indemnifying Party copies of all papers and official documents received in respect of any such Loss.
For the avoidance of doubt, all indemnification claims in respect of a Party, its Affiliates or their respective directors, officers,
employees and agents (each, an “Indemnitee”) shall be made solely by such Party to this Agreement.

 

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16.4 Indemnification
Procedures. The obligations of an Indemnifying Party under this Article 19 with respect to a Third Party Claim shall be governed
by and contingent upon the following:

 

(a) Assumption
of Defense. At its option, the Indemnifying Party may assume the defense of any Third Party Claim by giving written notice
to the Indemnified Party within fourteen (14) days after the Indemnifying Party’s receipt of an Indemnification Claim Notice.
The assumption of the defense of a Third Party Claim by the Indemnifying Party shall not be construed as an acknowledgment that
the Indemnifying Party is liable to indemnify any Indemnitee in respect of the Third Party Claim, nor shall it constitute a waiver
by the Indemnifying Party of any defenses it may assert against any Indemnified Party’s claim for indemnification.

 

(b) Control
of the Defense. Upon the assumption of the defense of a Third Party Claim by the Indemnifying Party: (i) the Indemnifying
Party may appoint as lead counsel in, and control, the defense of the Third Party Claim any legal counsel selected by the Indemnifying
Party, which shall be reasonably acceptable to the Indemnified Party, and (ii) except as expressly provided in Section 16.4(c),
the Indemnifying Party shall not be liable to the Indemnified Party for any legal expenses subsequently incurred by such Indemnified
Party or any Indemnitee in connection with the analysis, defense or settlement of the Third Party Claim. In the event that it
is ultimately determined that the Indemnifying Party is not obligated to indemnify, defend or hold harmless an Indemnitee from
and against the Third Party Claim, the Indemnified Party shall reimburse the Indemnifying Party for any and all costs and expenses
(including lawyers’ fees and costs of suit) and any Loss incurred by the Indemnifying Party in its defense of the Third
Party Claim with respect to such Indemnified Party or Indemnitee.

 

(c) Right
to Participate in the Defense. Without limiting Section 16.4(a) or 16.4(b) any Indemnitee shall be entitled to participate
in, but not control, the defense of a Third Party Claim and to retain counsel of its choice for such purpose; provided, however,
that such retention shall be at the Indemnitee’s own expense unless, (a) the Indemnifying Party has failed to assume the
defense and retain counsel in accordance with Section 16.4(a) (in which case the Indemnified Party shall control the defense),
or (b) the interests of the Indemnitee and the Indemnifying Party with respect to such Third Party Claim are sufficiently adverse
to prohibit the representation by the same counsel of both Parties under Applicable Laws, ethical rules or equitable principles.

 

(d) Settlement.
With respect to all Losses in connection with Third Party Claims, where the Indemnifying Party has assumed the defense of
a Third Party Claim in accordance with Section 16.4(a), (i) the Indemnifying Party shall have authority to consent to the entry
of any judgment, enter into any settlement or otherwise dispose of such Losses, provided that it obtains the prior written consent
of the Indemnified Party, which consent shall not be unreasonably withheld or delayed and (ii) no Indemnified Party or Indemnitee
shall admit any liability with respect to, or settle, compromise or discharge, any such Third Party Claim without the prior written
consent of the Indemnifying Party, which consent shall not be unreasonably withheld.

 

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(e) Cooperation.
If the Indemnifying Party chooses to defend or prosecute any Third Party Claim, the Indemnified Party shall, and shall cause
each other Indemnitee to, reasonably cooperate in the defense or prosecution thereof and shall furnish such records, information
and testimony, provide such witnesses and attend such conferences, discovery proceedings, hearings, trials and appeals as may
be reasonably requested in connection therewith. Such cooperation shall include access during normal business hours by the Indemnifying
Party to, and reasonable retention by the Indemnified Party of, records and information that are reasonably relevant to such Third
Party Claim, and making the Indemnified Party, the Indemnitees and its and their employees and agents available on a mutually
convenient basis to provide additional information and explanation of any records or information provided, and the Indemnifying
Party shall reimburse the Indemnified Party for all its related reasonable out-of-pocket expenses.

 

Article
17

INSURANCE

 

Each
Party shall undertake to carry commercial general liability and product liability insurance for the Product during the Term and
shall provide the other Party with evidence thereof on an annual basis. Each Party shall maintain such insurance at levels customarily
obtained by businesses selling products similar to the Product.

 

Article
18

CHANGE OF CONTROL

 

Distributor’s
rights and obligations under this Agreement shall be transferable to a successor Person(s) in the event Distributor undergoes
a Change of Control if, and only if, the successor Person(s) assumes, in writing, Distributor’s obligations under this Agreement.
Notwithstanding the foregoing, Distributor’s rights and obligations under this Agreement shall NOT be transferable to those
Persons listed on attached Exhibit D or to any Person who fails to meet the Minimum Credit Standards without the prior
written consent of SWAI granted in its sole discretion. Any successor or assign will be required to fulfill Distributor’s
obligations under this Agreement until the expiration or earlier termination hereof.

 

Article
19

TERM AND TERMINATION

 

19.1 Term.
This Agreement shall commence on the Effective Date and, unless earlier terminated in accordance with the terms of this
Article 19, shall continue for an initial period of ten (10) years, subject to a unilateral right of Distributor to extend
the initial period up to three (3) additional years, by written notice given to SWAI no less than eighteen Calendar Months
prior to the tenth anniversary of the Effective Date, if Distributor (i) has achieved average annual Net Sales of [***] or
more with respect to each of the two (2) most recently ended full Calendar Years preceding the date of notice, (ii) the
Distributor has achieved Net Sales in the Calendar Year immediately preceding the date of notice no less than Net Sales
achieved in the prior Calendar Year, and (iii) is otherwise not in default of its obligations hereunder as of the date of
such notice (the “Initial Term”). Unless sooner terminated as herein provided, upon expiration of the
Initial Term, this Agreement will automatically renew for additional two (2) year periods unless either Party gives written
notice of termination at least eighteen (18) Calendar Months prior to the expiration of the then-current term, which shall
cause this Agreement to terminate at the end of the then-current term (each period, a “Renewal Term” and
together with the Initial Term, the “Term”).

 

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19.2 Termination.

 

(a) In
addition to any other provision of this Agreement expressly providing for termination of this Agreement, this Agreement may be
terminated by either Party:

 

(i) in
the event of a breach of this Agreement by the other Party, which breach remains uncured for (A) ten (10) days after written notice
of such breach is given to the breaching Party in the case of a covenant to pay money or (B) thirty (30) days after written notice
of such breach is given to the breaching Party in all other cases (the “Cure Period”); provided, however,
that if the breach is (A) a non-monetary breach, (B) the breaching Party has promptly commenced to cure such breach and diligently
continues reasonable efforts to effect such cure and (C) a substantially similar breach by the breaching Party has not occurred
in the six month period prior to the giving of notice of breach, the Cure Period shall be extended for an additional sixty (60)
days.

 

(ii) immediately
upon written notice if the other Party shall file in any court or Agency, pursuant to any statute or regulation of any state or
country, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver
or trustee of that Party or of its assets, or if the other Party proposes a written agreement of composition or extension of its
debts, or if the other Party shall be served with an involuntary insolvency petition filed against it in any insolvency proceeding,
and such petition shall not be dismissed within ninety (90) days after the filing thereof, or if the other Party shall propose
or be a Party to any dissolution or liquidation, or if the other Party shall make an assignment for the benefit of its creditors;

 

(iii) By
either Party on giving thirty (30) days’ written notice to the other, which shall be effective on the expiration date of
such thirty (30) day period in the event that the other Party (the “Violating Party”) is convicted of a felony
for violating, or a final, non-appealable order is issued by a court of competent jurisdiction finding that the Violating Party
violated, any Applicable Laws, which are of such a nature that the Violating Party’s violation of such Applicable Laws would
reasonably be expected to be injurious in any material respect to the business reputation of the other Party as a consequence
of the Parties’ performance of their obligations pursuant to this Agreement. Such notice of termination must be given within
thirty (30) days of the terminating Party becoming aware of the circumstances described in this Section 19.2(a)(iii); or

 

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(iv) in
the event any court of competent jurisdiction issues a final order or judgment, from which no appeal can be taken or from which
no appeal is taken within the time period permitted for appeal, that the manufacture, use or sale of the Product in the Territory
infringes the patent rights or misappropriates the trade secrets of a third party. Such notice of termination must be given within
thirty (30) days of the terminating Party becoming aware of the circumstances described in this Section 19.2(a)(iv).

 

(b) In
addition to any other provision of this Agreement expressly providing for termination of this Agreement, this Agreement may be
terminated by either party upon thirty (30) days’ prior written notice to the other Party in the event any Agency requires
the withdrawal of the Product from the market at any time after the Effective Date for a period in excess of one-hundred twenty
(120) days. Such notice of termination must be given within thirty (30) days of the conclusion of such one hundred twenty (120)
day period.

 

(c)
In addition to any other provision of this Agreement expressly providing for termination of this Agreement, this Agreement
may be terminated by SWAI for convenience, upon nine (9) months’ prior written notice, following the sixth
(6th) anniversary of the Effective Date, if Net Sales of Product by Distributor in any Calendar Year of the Term
have been less than [***] Dollars  [***] which number represents approximately seventy-five (75) percent of the Net
Sales of Product by SWAI in Calendar Year 2016.

 

(d) In
addition to any other provision of this Agreement expressly providing for termination of this Agreement, this Agreement may be
terminated for convenience by Distributor under Section 9.1(d) if Distributor has provided a proper ROFR Notice to SWAI, SWAI
has failed to exercise the SWAI Right of First Refusal Offer and Distributor has entered into an Alternate Supply Arrangement
in accordance with Section 9.1(d).

 

(e) In
addition to any other provision of this Agreement expressly providing for termination of this Agreement, this Agreement may be
terminated by SWAI immediately upon notice to Distributor (i) if Distributor shall fail to pay the Agreement Modification Fee,
if applicable, and such failure remains uncured for five (5) days after written notice of such failure is given to Distributor,
or (ii) if, prior to the Effective Date, (x) Distributor has breached the Original Agreement or the Original License Agreement,
(y) such breach has continued beyond applicable cure periods, if any, and (z) SWAI has terminated the Original Agreement based
upon such breach and in accordance with the terms thereof.

 

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19.3 Effect
of Termination or Expiration.  Subject to Section 19.4, upon the effective date of termination or expiration of this Agreement,
Distributor shall immediately cease all Detailing and Promotion of the Product supplied by SWAI and discontinue the use of any
Promotional Materials and Product samples supplied by SWAI.

 

19.4 Distributor’s
Right to Sell Off. In the event this Agreement terminates other than for Distributor’s breach of this Agreement in accordance
with Section 19.2(a)(i) or 19.2(e), then Distributor may, for a period of one hundred eighty (180) days from the effective date
of termination (the “Sell-Off Period”), market, distribute, offer to sell and sell off any Firm Commitment
Units and/or Shortfall Units that Distributor has purchased or would be required to purchase under Section 9.2, and Distributor
and SWAI shall be bound by and comply with the provisions of this Agreement related to such Sell-Off until the end of the Sell-Off
Period.

 

19.5 Return
of All Materials.

 

(a) Upon
the termination or expiration of this Agreement or, if applicable, the Sell-Off Period, Distributor shall, and shall cause its
Representatives to, promptly return to SWAI all Product samples supplied by SWAI and in the possession or control of Distributor
or the Representatives, all Detailing and Promotional Materials, and all training materials that SWAI provided to Distributor
pursuant to this Agreement that are in the possession of, or under the control of, Distributor or the Representatives.

 

(b) Upon
the termination or expiration of this Agreement, SWAI shall promptly return to Distributor all training materials that Distributor
provided to SWAI pursuant to this Agreement that are in the possession of, or under the control of, SWAI.

 

19.6 Survival.

 

(a) The
expiration or termination of this Agreement for any reason shall be without prejudice to any rights or obligations of the Parties
that may have accrued prior to such termination, and the provisions of Articles 13, 14, 15, 16, 19 and 20 shall survive the expiration
or termination of this Agreement for any reason.

 

(b) Except
as otherwise expressly provided herein, termination of this Agreement in accordance with the provisions hereof shall not limit
the remedies that may otherwise be available in law or equity.

 

Article
20

MISCELLANEOUS

 

20.1 Governing
Law. The interpretation and construction of this Agreement shall be governed by the laws of the Commonwealth of Virginia,
excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement
to the substantive law of another jurisdiction.

 

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20.2 Jurisdiction.
The Parties hereby irrevocably and unconditionally consent to the exclusive jurisdiction of state and federal courts located in
the Commonwealth of Virginia for any action, suit or proceeding (other than appeals therefrom) arising out of or relating to this
Agreement, and agree not to commence any action, suit or proceeding (other than appeals therefrom) related thereto except in such
courts.

 

20.3 Dispute
Resolution. In the event of a dispute arising out of or relating to this Agreement either Party may provide written notice
of the dispute to the other, in which event the dispute shall be referred to the executive officers designated below or their
successors, for attempted resolution by good faith negotiations within sixty (60) days after such notice is received. Said designated
officers are initially as follows:

 

For
SWAI: Gordon Berkstresser or his designate

 

For
Distributor or its Affiliates: Allan Staley or his designate

 

In
the event the designated executive officers do not resolve such dispute within the allotted sixty (60) days, either Party may,
after the expiration of the sixty (60) day period, seek to resolve the dispute in a court of competent jurisdiction in accordance
with this Article 20.

 

20.4 Force
Majeure. No liability shall result from, and no right to terminate shall arise, in whole or in part, based upon any delay
in performance or non-performance, in whole or in part, by either of the Parties to this Agreement to the extent that such delay
or non-performance is caused by an event of Force Majeure. “Force Majeure” means an event that is beyond a
non-performing Party’s reasonable control, including an act of God, strike, lock-out or other industrial/labor dispute, failure
of supply due to circumstances beyond a Party’s reasonable control, war, riot, civil commotion, terrorist act, malicious
damage, epidemic, quarantine, fire, flood, storm, natural disaster or compliance with any law or governmental order, rule, regulation
or direction, whether or not it is later held to be invalid or inapplicable. The Force Majeure Party shall within ten (10) days
of the occurrence of the Force Majeure event, give written notice to the other Party stating the nature of the Force Majeure event,
its anticipated duration and any action being taken to avoid or minimize its effect. Any suspension of performance shall be of
no greater scope and of no longer duration than is reasonably required and the Force Majeure Party shall use reasonable effort
to remedy its inability to perform; provided, however, if the suspension of performance continues for sixty (60)
days after the date of the occurrence, and such failure to perform would constitute a material breach of this Agreement in the
absence of such event of Force Majeure, the Parties shall meet and discuss in good faith any amendments to this Agreement to permit
the other Party to exercise its rights under this Agreement. If the Parties are not able to agree on such amendments within sixty
(60) days and if the suspension of performance continues, such other Party shall have the right, notwithstanding the first sentence
of this Section 20.4, to terminate this Agreement immediately by written notice to the Force Majeure Party, in which case neither
Party shall have any liability to the other except for those rights and liabilities that accrued prior to the date of termination.

 

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20.5 Waiver
and Non-Exclusion of Remedies. A Party’s failure to enforce, at any time or for any period of time, any provision of
this Agreement, or to exercise any right or remedy shall not constitute a waiver of that provision, right or remedy or prevent
such Party from enforcing any or all provisions of this Agreement and exercising any rights or remedies. To be effective any waiver
must be in writing. The rights and remedies provided herein are cumulative and do not exclude any other right or remedy provided
by law or otherwise available except as expressly set forth herein.

 

20.6 Notice
Requirements. Any notice, request, demand, waiver, consent, approval or other communication permitted or required under this
Agreement shall be in writing, shall refer specifically to this Agreement and shall be deemed given only if delivered by hand
or sent by facsimile transmission (with transmission confirmed) or by nationally recognized overnight delivery service that maintains
records of delivery, addressed to the Parties at their respective addresses specified in Section 20.7 or to such other address
as the Party to whom notice is to be given may have provided to the other Party in accordance with this Section 20.6. Such Notice
shall be deemed to have been given as of the date delivered by hand or transmitted by facsimile (with transmission confirmed)
or on the second Business Day (at the place of delivery) after deposit with a nationally recognized overnight delivery service.
This Section is not intended to govern the day-to-day business communications necessary between the Parties in performing their
obligations under the terms of this Agreement.

 

20.7 Address
for Notice.

 

		For:	Soluble
                                         Systems, LLC

                                         11830 Canon Boulevard, Suite A

Newport
News, Virginia 23606

Facsimile: 757-877-8870

Email:
astaley@solublesystems.com

Attention: Allan Staley

With
a copy to:

Troutman Sanders LLP

222
Central Park Avenue, Suite 2000

Virginia
Beach, Virginia 23462

Facsimile: 757-687-7530

Email: john.ramirez@troutmansanders.com

Attention:
John M. Ramirez, Esq.

 

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		For:	Skin
                                         and Wound Allograft Institute, LLC

                                         1864 Concert Drive

                                         Virginia Beach, VA 23453

                                         Facsimile: 757-464-5721

                                         Email: gordon_berkstresser@lifenethealth.org

                                         Attention: Gordon Berkstresser

                                         

                                         With a copy to:

                                         

                                         Amanda L. Kutz, Esquire

                                         LifeNet Health

                                         1864 Concert Drive

                                         Virginia Beach, Virginia 23453

Facsimile:
757-609-4324

Email:
amanda_kutz@lifenethealth.org

 

20.8 Non-Solicitation
of Employees. Neither Party shall during the Term and for the twelve (12) month period thereafter, directly or indirectly,
(i) take any action to induce any employee to quit the employ of the other Party or its Affiliates or (ii) induce any other person
or entity to take any action to induce any employee of the other Party or its Affiliates to terminate his or her employment; provided,
however, that the employment by a Party or its Affiliates of a current or former employee of the other Party or its Affiliates
solicited by a bona fide public advertisement shall not be a breach of this Section 20.8.

 

20.9 Entire
Agreement. This Agreement, the License, the Services Agreement, the Original Agreement and the Original License Agreement
constitute the entire agreement between the Parties with respect to the subject matter of the Agreement and supersedes all prior
agreements, whether written or oral, with respect to the subject matter of the Agreement. Each Party confirms that it is not relying
on any representations, warranties or covenants of the other Party except as specifically set out in this Agreement. Nothing in
this Agreement is intended to limit or exclude any liability for fraud. All Schedules or Exhibits referred to in this Agreement
are intended to be and are hereby specifically incorporated into and made a part of this Agreement. In the event of any inconsistency
between any such Schedules or Exhibits and this Agreement, the terms of this Agreement shall govern. The Parties acknowledge that
the Warrant, as amended, remains in full force and effect in accordance with its terms.

 

20.10 Amendment.
Any amendment or modification of this Agreement must be in writing and signed by authorized representatives of both Parties.

 

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20.11 Assignment.
Neither Party may assign its rights or delegate its obligations under this Agreement, in whole or in part without the prior written
consent of the other Party, which consent shall not be unreasonably withheld, except that Distributor and SWAI shall always have
the right, without such consent, (a) to perform any or all of its obligations and exercise any or all of its rights under this
Agreement through any of its Affiliates (provided that Distributor or SWAI, as applicable, shall remain responsible for any failure
to perform on the part of any such Affiliates), and (b) on written notice to the other Party, assign any or all of its rights
and delegate or subcontract any or all of its obligations hereunder to any of its Affiliates or to any successor in interest (whether
by merger, acquisition, asset purchase or otherwise) to all or substantially all of the business to which this Agreement relates;
provided however that in no event shall Distributor assign its rights hereunder, in whole or in part, to any entity described
on Exhibit D, or any entity under common control with any such entity or to any Person that fails to meet the Minimum Credit
Standards without the prior written consent of SWAI granted in its sole discretion. Any permitted successor of a Party or any
permitted assignee of all of a Party’s rights under this Agreement that has also assumed all of such Party’s obligations
hereunder in writing shall, upon any such succession or assignment and assumption, be deemed to be a party to this Agreement as
though named herein (provided that the assigning or delegating Party shall remain responsible for any failure of the assignee
or delegatee to perform its obligations hereunder, whereupon the assigning Party shall cease to be a party to this Agreement and
shall cease to have any rights or obligations under this Agreement. All validly assigned rights of a Party shall inure to the
benefit of and be enforceable by, and all validly delegated obligations of such Party shall be binding on and be enforceable against,
the permitted successors and assigns of such Party. Any attempted assignment or delegation in violation of this Section shall
be void. Notwithstanding any other provision of this Section 20.11, the terms of this Agreement may be varied, amended or modified
or this Agreement may be suspended, cancelled or terminated without the consent of any assignee or delegate that is not deemed
pursuant to the provisions of this Section 20.11 to have become a party to this Agreement.

 

20.12 No
Benefit to Others. The provisions of this Agreement are for the sole benefit of the Parties and their successors and permitted
assigns, and they shall not be construed as conferring any rights in any other persons except as otherwise expressly provided
in this Agreement.

 

20.13 Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which taken
together shall be deemed to constitute one and the same instrument. An executed signature page of this Agreement delivered by
facsimile transmission shall be as effective as an original executed signature page.

 

20.14 Severability.
To the fullest extent permitted by applicable law, the Parties waive any provision of law that would render any provision in this
Agreement invalid, illegal or unenforceable in any respect. If any provision of this Agreement is held to be invalid, illegal
or unenforceable, in any respect, then such provision will be given no effect by the Parties and shall not form part of this Agreement.
To the fullest extent permitted by applicable law and if the rights or obligations of any Party will not be materially and adversely
affected, all other provisions of this Agreement shall remain in full force and effect and the Parties will use their best efforts
to negotiate a provision in replacement of the provision held invalid, illegal or unenforceable that is consistent with applicable
law and achieves, as nearly as possible, the original intention of the Parties.

 

20.15 Further
Assurances. Each Party shall perform all further acts and things and execute and deliver such further documents as may be
necessary or as the other Party may reasonably require to implement or give effect to this Agreement.

 

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20.16 Publicity.
It is understood that the Parties intend to issue separate press releases announcing the execution of this Agreement and agree
that each Party may desire or be required to issue subsequent press releases relating to the Agreement or activities hereunder.
The Parties agree to consult with each other reasonably and in good faith with respect to the text and timing of such press releases
prior to the issuance thereof, provided that a Party may not unreasonably withhold consent to such releases, and that either Party
may issue such press releases as it determines, based on advice of counsel, are reasonably necessary to comply with laws or regulations
or for appropriate market disclosure.

 

20.17 Relationship
of the Parties. The status of a Party under this Agreement shall be that of an independent contractor. Nothing contained in
this Agreement shall be construed as creating a partnership, joint venture, or agency relationship between the Parties or, except
as otherwise expressly provided in this Agreement, as granting either Party the authority to bind or contract any obligation in
the name of or on the account of the other Party or to make any statements, representations, warranties, or commitments on behalf
of the other Party. All Persons employed by a Party or any of its Affiliates shall be employees of such Party or its Affiliates
and not of the other Party or such other Party’s Affiliates and all costs and obligations incurred by reason of any such
employment shall be for the account and expense of such Party or its Affiliates, as applicable.

 

20.18 Non-Disparagement.

 

(a) During
the Term of the Agreement and continuing for a period of five (5) years after termination or expiration thereof, Distributor and
its officers, directors, employees and agents shall refrain from making any disparaging remarks or statements concerning SWAI,
its Affiliates, its officers and directors or the Product.

 

(b) During
the Term of the Agreement and continuing for a period of five (5) years after termination or expiration thereof, SWAI and its
officers, directors, employees and agents shall refrain from making any disparaging remarks or statements concerning Distributor,
its Affiliates, its officers and directors or the Product.

 

20.19 Release
of Known Claims.

 

(a) In
consideration of the executing and delivery of this Agreement, and as of the Agreement Date, Distributor hereby acknowledges that,
to the actual knowledge of Distributor, SWAI is in full compliance with all of its obligations under this Agreement and the Original
Agreement and hereby releases and forever discharges SWAI, its officers, directors, employees, Affiliates and agents from any
claims known to Distributor (including without limitation, any claims for known prior breaches of this Agreement or the Original
Agreement) as of the Agreement Date which it may have as a result of any prior action or failure to act by any of them.

 

(b) In
consideration of the execution and delivery of this Agreement and the termination of the Original Agreement, and as of the Agreement
Date, SWAI hereby acknowledges that, to its actual knowledge, Distributor is in full compliance with all of its obligations under
this Agreement and the Original Agreement and hereby releases and forever discharges Distributor, its successors and assigns and
their respective officers, directors, employees, Affiliates and agents from any claims known to SWAI (including without limitation,
any claims for known prior breaches of this Agreement or the Original Agreement) as of the Agreement Date which it may have as
a result of any prior action or failure to act by any of them.

 

[Signature
Page Follows]

 

    45

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement on the date and year first set forth above.

 

	 	SKIN AND WOUND ALLOGRAFT INSTITUTE, LLC
	 	 	 
	 	By: 	         
	 	Name: 	 
	 	Title: 	 
	 	 	 
	 	SOLUBLE SYSTEMS, LLC
	 	 	 
	 	By:	 
	 	Name: 	 
	 	Title: 	 

 

    

     

    

 

Exhibit
A

 

SERVICES
AGREEMENT

 

This
Services Agreement (this “Agreement”), dated as of October 13, 2017, is made by and between Soluble
Systems LLC, a Virginia limited liability company (the “Company”), and Skin and Wound Allograft
Institute, LLC, a Virginia limited liability company (the “Servicer”). The Company and the Servicer
are individually referred to herein as a “Party” and collectively as the “Parties”.

 

WHEREAS,
the Company and the Servicer are party to that certain Amended and Restated Distribution and Supply Agreement dated of even date
herewith (the “Distribution Agreement”); capitalized terms used in this Agreement and not otherwise
defined herein have the meanings given to such terms in the Distribution Agreement), that, conditioned upon the Closing
of a Triggering Event Transaction, provides for the strategic relationship between the Parties pursuant to which the Company will
market and distribute the Product from and after the Effective Date.

 

WHEREAS,
in connection with and as a condition precedent to the effectiveness of the Distribution Agreement, the Parties have agreed
to enter into this Agreement to set forth the terms and conditions upon which the Servicer will provide or cause to be provided
to the Company certain identified services from and after the Effective Date and during the term of this Agreement.

 

NOW,
THEREFORE, in consideration of the premises and mutual agreements herein contained and the consideration paid under the Distribution
Agreement, the Parties hereby agree as follows:

 

1. Services.

 

(a) From
the period commencing on the Effective Date and continuing through the 90th day following the Effective Date (the “Initial
Period”), the Servicer shall perform or cause to be performed for the Company, without any additional cost to the
Company whatsoever, the distribution services listed below that the Servicer previously provided to the Company in connection
with the Original Agreement (the “Initial Services”). The Initial Services are as follows:

 

(i) taking
orders for Product on behalf of the Company;

 

(ii) invoicing
Customers and collecting payment from Customers for Product sales (without any responsibility for non-payment by the Customer
or any obligation to bring suit or otherwise expend funds to collect unpaid amounts); and

 

(iii) preparing
all Customer contracts in connection with Product orders.

 

    

     

    

 

(b) Following
the Initial Period and through the termination or expiration of this Agreement (the “Subsequent Period”),
the Servicer shall perform, or cause to be performed for the Company, the distribution services set forth below (the “Subsequent
Services” and together with the Initial Services, the “Services”):

 

(i) taking
orders for Product from the Company; and

 

(ii) invoicing
Customers for Product sales.

 

As
consideration for the Subsequent Services, the Company shall pay to the Servicer a service fee equal to ten percent (10%) of total
aggregate Net Sales of the Product to Customers in the Territory during the Subsequent Period (the “Services Fee”).
The Company shall not be required to make any additional payments to the Servicer in addition to the Services Fee for the
provision of the Subsequent Services. The Services Fee shall be subject to adjustment as herein provided.

 

(c) In
connection with the provision of Services during the Initial Period, the Servicer shall provide the Company with detailed electronic
daily reports on Product sales, Customer invoicing, Customer credits, Customer returns and cash receipts in a manner consistent
with reporting provided to the Company in connection with the Original Agreement. In connection with the provision of Services
during the Subsequent Period, the Servicer shall provide the Company with detailed electronic daily reports on Product sales and
Customer invoicing in a manner consistent with reporting provided to the Company in connection with the Original Agreement. In
addition, the Servicer shall cooperate with the Company to ensure that the Company is able to correctly maintain its Customer
accounting records for the Product, including without limitation, helping the Company ensure that (a) any payments received by
the Company are applied against the correct invoices sent out by the Servicer and (b) that any credits or returns are correctly
applied to the applicable Customer.

 

(d) Nothing
set forth in this Agreement shall in any way limit, obviate or otherwise eliminate any of the obligations of the Servicer or the
Company under the Distribution Agreement.

 

(e) During
the Initial Period, the Servicer shall collect Customer receipts as provided above, apply such receipts to the payment of Servicer
invoices for Product delivered to Customers by Servicer during the Initial Period and remit the net amount after such application
to the Company on a monthly basis on or before the tenth day of the month following the month in which the receipts were collected.
To the extent that the Servicer receives any payment for the Product directly from the Customer following the Initial Period,
the Servicer shall promptly remit such payment in its entirety to the Company.

 

    

     

    

 

(f) From
the Effective Date until the earlier of the termination of the Agreement or the date which is thirty (30) days following the effective
date of the giving to Servicer by the Company of an Assumption of Shipping Responsibility Notice, the Servicer shall ship all
Product ordered for Customers by the Company using a Qualified National Shipper under standard overnight shipping terms which
includes delivery by Noon on the subsequent Business Day (“Standard Terms”) at its expense. The Company shall reimburse
to the Servicer the cost of shipping at a fee equal to ten (10) percent of the Net Sales of Product to Customers in the Territory
during any month of the Term (including the Initial Period) in which the shipping services are provided (the “Shipping Fee”)
prorated for any partial month based on average daily Net Sales during the month in which termination of shipping services occurs.
The Shipping Fee is subject to adjustment as herein provided. To the extent that any order requiring delivery in advance of the
delivery time for Standard Terms shall be at the expense of the Company as an additional fee to the extent of any incremental
cost associated with such expedited shipping. To the extent that the selling price of the Product shall be reduced by the Company
at any time following the Agreement Date, the Service Fee and the Shipping Fee shall be increased to a percentage that would yield
the same fee for the rendering of the applicable service had the selling price of the Product not been reduced. In addition, upon
the giving of thirty (30) days advance written notice to the Company and the provision to the Company of reasonable documentation
substantiating the increase, the Servicer may increase that portion of the Shipping Fee that constitutes reimbursement of direct
out of pocket cost due to the Qualified National Shipper by the same percentage increase by which the Qualified National Shipper
then utilized by Servicer has increased its rates for transportation services to Servicer.

 

2. Standard
of Performance; Resources.

 

(a) The
Servicer shall provide the Services in good faith, using the same degree of skill and care and in substantially the same manner
as is customary in the industry and the same degree of skill and care and in substantially the same manner as the Servicer uses
in performing the Services for itself and as was provided to Soluble in connection with the Old Distribution Agreement. The Servicer
shall be entitled, at its discretion and at its expense, to subcontract any part of the Services to be performed hereunder; provided,
that any subcontractor shall be approved in advance by the Company, such approval not to be unreasonably withheld, conditioned
or delayed. The parties agree that FedEx Corporation is acceptable as a Qualified National Shipper.

 

(b) Subject
to its right to subcontract Services, the Servicer shall devote such personnel as are reasonably necessary to perform the Services
as provided herein in accordance with the terms of this Agreement. The Servicer shall retain the right to hire and fire any of
its personnel and to establish all duties and work assignments, business procedures and protocols governing their conduct.

 

(c) The
Parties agree to cooperate in good faith in connection with performance of the Services. Such cooperation includes (i) responding
promptly to requests for consents or other communications, (ii) not acting or failing to act in any way that could materially
adversely affect the provision of the Services, and (iii) providing reasonable access to documentation, information and other
materials that are necessary to provide the Services.

 

(d) Upon
reasonable prior written notice from the Company, the Servicer will provide the Company and its auditors reasonable access, during
normal business hours, to the Servicer’s books and records related to, and the personnel of the Servicer involved in, the
provision of the Services hereunder in order to allow the Company and such auditors to assess the adequacy of the system of internal
controls over transactions processed by the Servicer in accordance with applicable laws, regulations and accounting pronouncements.

 

    

     

    

 

3. Payment.

 

(a) Within
thirty (30) days following the end of each full or partial calendar month during the Term, the Company shall provide the Servicer
with its calculation of Net Sales of the Product to Customers in the Territory for such completed calendar month, together with
payment for the Service Fee (which only shall be payable for the Subsequent Period) and Shipping Fee (as applicable) for such
month. Any amount not paid when due shall incur a late charge of two (2) percent of the amount due and shall bear interest from
the date due to the date of payment at a per annum rate equal to ten (10) percent. The Servicer shall further be entitled to recover
its costs of collecting any past due amounts, including reasonable attorney’s fees and expenses.

 

(b) If
there is a dispute between the Parties regarding the calculation of the Service Fee or the Shipping Fee (as applicable), the Company
shall, upon the written request of the Servicer, furnish to the Servicer such reasonable documentation to substantiate the calculation
of such Service Fee and Shipping Fee (as applicable). Following the delivery of such information, the Parties shall cooperate
and use commercially reasonable efforts to resolve any such dispute among themselves as promptly as practicable.

 

4. Term.
This Agreement shall commence as of the Effective Date and will continue in effect until the expiration or termination of
the Distribution Agreement, unless earlier terminated in accordance with Section 5 (the “Term”).

 

5. Termination.

 

(a) Following
the Initial Period, either Party may terminate this Agreement for any reason or no reason, in its entirety by providing the other
Party with at least one hundred twenty (120) days’ prior written notice, which notice must specify the date on which the
Services are to be terminated (the “Termination Date”); provided, that the Company will be liable for any Service
Fees or Shipping Fee that may be due through the Termination Date. As provided above, the Company can terminate the shipping services
hereunder without terminating this Agreement by giving the Servicer an Assumption of Shipping Responsibility Notice at any time
and such notice will be effective thirty (30) days following the effective date of such notice unless the Company and Servicer
shall otherwise mutually agree.

 

(b) Notwithstanding
the foregoing, this Agreement may be terminated at any time during the Term:

 

(i) by
the Company, upon written notice to the Servicer, if the Servicer commits a breach of this Agreement and fails to cure such breach
within ten (10) business days of receiving written notice of such breach from the Company;

 

(ii) by
the Servicer, upon written notice to the Company, if the Company commits a breach of this Agreement and fails to cure such breach
within ten (10) business days of receiving written notice of such breach from the Servicer;

 

    

     

    

 

(iii) by
either the Company or the Servicer in the event of the institution by the other Party of voluntary proceedings in bankruptcy or
under insolvency laws; or

 

(iv) by
either the Company or the Servicer in the event of the involuntary initiation of bankruptcy or insolvency proceedings against
the other Party or for the dissolution or reorganization or for a receivership of such other Party, which is not dismissed within
thirty (30) days after the filing thereof.

 

(c) No
termination of this Agreement shall relieve any Party from liability for any breach of this Agreement prior to termination or
expiration hereof. This Section 5(c), Section 3 (Payment), Section 7 (Confidentiality), Section 8 (Expenses), Section 9 (Limitation
on Liability), Section 11 (Third Party Beneficiaries), Section 12 (Notices), Section 13 (Governing Law; Jurisdiction; Dispute
Resolution), Section 14 (Complete Agreement), Section 15 (Construction), Section 16 (Headings; References) and Section 18 (Severability)
shall survive any termination of this Agreement.

 

6. Relationship
of the Parties. The Parties intend that their relationship hereunder will be that of independent contractors. Nothing contained
in this Agreement is to be construed as creating any partnership, joint venture, relationship of principal and agent or employer
and employee, or other arrangement between the Parties. Neither Party will have any right, power or authority to act or create
any obligation, expressed or implied, on behalf of the other Party. The Servicer shall be responsible in accordance with applicable
law for workers’ compensation and other types of insurance covering its employees and employees of its Affiliates performing
the Services and shall have sole responsibility for compliance with all other applicable laws relating to such employees. No employee
of the Servicer or any of its Affiliates who renders any Service shall be deemed or considered to be an employee of the Company
or any of its Affiliates as a result thereof.

 

7. Confidentiality.
All information provided by the Parties hereunder to each other shall be subject to Article 13 of the Distribution Agreement,
which is incorporated herein by reference.

 

8. Expenses.
Subject to the indemnification obligations under the Distribution Agreement and the provisions of Section 3(a) hereof, all
costs and expenses (including all legal, accounting, broker, finders or investment banker fees) incurred in connection with this
Agreement and the transactions contemplated hereby are to be paid by the Party incurring such expenses.

 

9. Successors
and Assigns. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the Parties
and their respective successors and permitted assigns, but neither this Agreement nor any of the rights, interests or obligations
hereunder may be assigned (whether voluntarily, involuntarily, by operation of law or otherwise) by any of the Parties without
the prior written consent of the other Party. Notwithstanding the foregoing, in the event of any permitted assignment of the Distribution
Agreement, this Services Agreement shall automatically be deemed assigned to, and assumed by, the permitted assignee of the Distribution
Agreement and Servicer shall be permitted to subcontract Services in accordance with the terms of this Agreement.

 

    

     

    

 

10. Third
Party Beneficiaries. Except with respect to any indemnitees in accordance with the indemnity provisions of the Distribution
Agreement, this Agreement does not benefit or create any legal or equitable right, remedy or claim in or on behalf of any Person
other than the Parties and their permitted successors and assigns. This Agreement and all of its terms and conditions are for
the sole and exclusive benefit of the Parties and their successors and permitted assigns.

 

11. Notices.
Any notice, request, instruction, consent or other document to be given hereunder by any Party to another Party must be in
writing and delivered in accordance with Section 20.7 of the Distribution Agreement. Any such notice shall be effective on the
date provided for the effectiveness of notices under the Distribution Agreement.

 

12. Governing
Law: Jurisdiction; Dispute Resolution. Sections 20.1, 20.2 and 20.3 of the Distribution Agreement are hereby incorporated
herein by reference.

 

13. Complete
Agreement. This Agreement, together with the Distribution Agreement and the other agreements provided for therein, contain
the complete and exclusive statement of the terms of the agreements between the Parties with respect to the transactions contemplated
hereby and thereby and supersedes in its entirety that certain Services Agreement dated May 10, 2017 by and between the Parties.

 

14. Construction.
Each provision of this Agreement has been subject to mutual consultation, negotiation and agreement of the Parties and therefore
is to be construed as if the Parties drafted it jointly. The word “including” shall mean including without
limitation. All references to the masculine herein shall include the feminine and neuter, all references to the neuter herein
shall include the masculine and feminine, all references to the plural shall include the singular and all references to the singular
shall include the plural.

 

15. Headings;
References. The headings contained in this Agreement are for convenience of reference only and do not affect the interpretation
or construction hereof. When a reference is made in this Agreement to a Section, such reference is to a Section of this Agreement
unless otherwise indicated.

 

16. Amendment;
Waiver. This Agreement may be amended or modified only in a writing referencing this Agreement and duly executed by the Parties.
The provisions of this Agreement may be waived only in a writing referencing this Agreement signed by the Party from whom the
waiver is sought, and a Party may enforce any provision of this Agreement even if it has previously granted a waiver or failed
to enforce that or any other provision of this Agreement.

 

17. Severability.
Any term or provision of this Agreement that is invalid or unenforceable in any jurisdiction will, as to that jurisdiction,
be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms
and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement
in any other jurisdiction so long as the economic or legal substance of the transactions contemplated hereby is not affected in
any manner materially adverse to any Party. If any provision of this Agreement is so broad as to be unenforceable, such provision
is to be interpreted to be only so broad as is enforceable.

 

18. Counterparts.
This Agreement may be executed in any number of counterparts, each of which will be deemed an original and all of which together
will constitute one and the same instrument. A signature to this Agreement delivered by facsimile or electronic PDF will be sufficient
for all purposes between the Parties.

 

[Remainder
of Page Intentionally Left Blank]

 

    

     

    

 

IN
WITNESS WHEREOF, the Company and the Servicer have caused this Agreement to be executed by their duly authorized officers
or representatives as of the date set forth in the preamble hereto.

 

	 	SERVICER:
	 	 	 
	 	SKIN AND WOUND ALLOGRAFT INSTITUTE, LLC
	 	 	 
	 	By:	/s/ Gordon Berkstresser
	 	Name:	Gordon Berkstresser
	 	Title:	Chief Financial Officer
	 	 	 
	 	 	 
	 	COMPANY:
	 	 	 
	 	SOLUBLE SYSTEMS, LLC
	 	 	 
	 	By:	/s/ Allan Staley
	 	Name:	Allan Staley
	 	Title:	Manager

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