Document:

Exhibit 10.5

Joint Development Agreement

 

	Effective Date	
        October _31st____, 2018

         

	Parties:	
        Erchonia Corporation, LLC

        650 Atlantis Road

        Melbourne Fl 32904

        (“Erchonia”)

         

	 	
        InnerScope Hearing Technologies, Inc.

        A Nevada Corporation

        2151 Professional Drive, 2nd Flr.

        Roseville CA 95611

        (“INND”)

         

 

For good and valuable consideration, the parties
agree to the term set forth in this Joint Development Agreement (“Agreement”).

		1.	Background:

		a.	ERCHONIA is a world leader in the manufacture and development of Low Level Laser Therapy technology
(“3LT”) and medical laser equipment using 3LT technology.

		b.	INND is in the business of marketing and distributing hearing aid devices and related hearing
products and services.

		c.	INND has worldwide B2B hearing health care professionals and B2C eCommerce direct-to-consumer
sales channels.

		d.	The Parties wish to jointly conduct FDA Clinical Research and Trials for the purpose of obtaining
a 510k FDA-Clearance for devices, technologies, methods and techniques used in the treatment of hearing related conditions and
disorders, including, tinnitus, sensorineural hearing loss, central auditory processing disorders, dizziness, vertigo, balance
disorders, and Meniere’s disease (“Hearing Disorders”).

		e.	The Parties desire to jointly work to design and develop a new ERCHONIA 3LT laser(s) and related
technologies and methods to be used to treat Hearing Disorders (the “Hearing Products and Methods”).

		f.	Upon the successful development of new Hearing Products, INND desires to obtain an exclusive
license to commercially distribute such Hearing Products and Methods worldwide. 

		g.	ERCHONIA and INND have entered into an “Exclusive Distributor Agreement” for ERCHONIA
to grant an Exclusive License for worldwide distribution of the Hearing Product and Methods, as set forth in the Exclusive Distribution
Agreement attached hereto as Attachment “A”.

		h.	INND wishes to undertake certain research concerning the use of ERCHONIA’s current developed
products for various applications on Hearing Disorders for determining treatment efficacy and protocols using ERCHONIA Products.

		i.	The Parties wish to share the cost, risk, and benefit of such FDA Clinical Research and Trials
on the terms set forth herein in this Agreement.

		j.	The Parties agree that this Background will be considered terms of this Agreement.

		2.	INND Investment: 

		a.	INND is a publicly traded Company on the OTCQB OTC trading under the symbol INND. INND is committed
to this project and desires a long-term relationship with ERCHONIA. As consideration for the promises and undertakings contained
in this agreement, upon the Effective Date the agreement, INND will transfer One Million (1,000,000) common shares of INND
from INND to Kirkwall investments.

		b.	The transfer of the One Million (1,000,000) common shares to Kirkwall investments is considered
“controlled securities” and thus “Restricted” shares under the regulations of U.S. Securities and Exchange
Commission (“SEC”) Rule 144. Since INND is a fully reporting public Company under the U.S. Securities and Exchange
Act of 1934, the “Restricted” common shares will have a mandatory “Holding Period” of six (6) months from
the issuing date before the shares can be sold on the open market by ERCHONIA.

		3.	INND Obligations: INND’s will be responsible for the following requirements:

		a.	INND will provide the staffing and facilities for a clinical trial
to research the use and effectiveness of using the Hearing Products and Methods under development for medical or therapeutic treatment
of Hearing Disorders and performing medical research related to such clinical trial (the “Clinical Research”). The
Clinical Research shall be conducted in a professional manner, in accordance with clinical treatment protocols developed and overseen
by qualified licensed medical and health care professionals. In coordination with Erchonia, INND shall be responsible for selecting
the qualified professionals to perform such Clinical Research and for ensuring such professionals oversee the Clinical Research
during the full term of such clinical trials and related research.

		b.	INND will provide Doctors of Audiology as the Principal Investigators
for all Clinical Research.

		c.	The Clinical Research (including the clinical trials) shall be developed
and organized to include up to 100 patients in the study. The patients shall be divided among at least two clinical test sites.

		d.	The Clinical Research shall be conducted in accordance with all applicable
medical and industry standards, and in accordance with all applicable laws, rules and regulations, and applicable health care regulations.

		e.	INND will only use the ERCHONIA Products in such Clinical Research,
except upon the consent of ERCHONIA or where required to study the safety and efficacy of the ERCHONIA Products compared to other
Products as part of the Clinical Research.

		4.	Erchonia Responsibilities:

		a.	ERCHONIA will be the sponsor and be responsible for assisting INND with administrative and procedural
requirements of the Clinical Research to be conducted by INND. Erchonia assistance will include: (i) providing a Clinical Research
monitor, such as Elvira Walls from Regulatory Insight Inc.; and (ii) assist in locating an Institutional Review Board, such as
Independent Review Consulting, Inc. to review and approve the research protocols.

		b.	ERCHONIA will assist INND in overseeing the procedural and the administrative FDA regulatory
compliance aspects of the Clinical Research. 

		c.	ERCHONIA will provide units of its Products as required to perform the Clinical Research up to
a maximum of 3 units. 

		d.	ERCHONIA will be responsible for filing for utility or design patent applications that may be
applicable to any devices and methods developed and used during the clinical research process.

		e.	To the extent any new products, methods, or technology is developed as a result of the Clinical
Research into Hearing Disorders, such new products, methods, or technology will be licensed to INND under the terms of the Exclusive
Distribution Agreement attached as Exhibit A to this agreement. 

		5.	Development Costs: 

		a.	The Parties agree to share equally the costs (including attorney’s fees) of filing any
and all patent applications and obtaining the issuance of any patents, or the cost of protecting or registering any other intellectual
property rights in the Clinical Research or derived from the results of the Clinical Research as described in 4(d) herein above.

		b.	INND agrees to share equally in all costs associated with the FDA administrative and procedural
requirements of the Clinical Research, as described in 4(a) herein above. 

		c.	INND is responsible for all costs associated for providing the site locations as describe in
3(a)(b)(c) herein above.

		d.	ERCHONIA shall bear all costs associated with the development of its products, or jointly develop
products and make available to INND those products for the Clinical Research and under Attachment “A”, Exclusive Distribution
Agreement attached hereof made part of the Agreement as describe in 3(e) and 4(e) herein above.

		e.	To the extent one party incurs costs under this paragraph, which costs are to be shared, it will
promptly invoice the other party for its share of such costs and such invoices will be paid promptly upon receipt.

 

		6.	Ownership of Intellectual Property Rights: All intellectual property rights, including any patent rights, in the Hearing Products
and Methods developed under this agreement will be owned as follows:

 

		a.	All utility patent rights in the Hearing Products and Methods will be owned solely by Erchonia to the extent such patent rights
are granted for any device or apparatus.

		b.	All utility patent rights in the Hearing Products and Methods will be jointly owned by the parties to the extent such patent
rights apply to any method or technique related to the Hearing Products and Methods. The parties agree that such rights will be
exclusively licensed to Erchonia for the duration of such patents to the extent such rights relate to the use of any products which
are the subject of any utility patent rights owned by Erchonia under the terms of this agreement.

 

		c.	All design patent rights in the Hearing Products and Methods will be jointly owned by the parties to the extent such design
patent rights apply the Hearing Products and Methods. During the term of this agreement, the parties agree that such rights will
be exclusively licensed to Erchonia to the extent such rights relate to the design of any products which are the subject of any
utility patent rights owned by Erchonia under the terms of this agreement.

 

		d.	To the extent any intellectual property rights are associated with the Clinical Research data developed under the terms of
this agreement, all rights in such data will be owned by Erchonia. All such Clinical Research data will be considered Confidential
Information under the terms of this agreement unless and until such data is published. The parties agree they will cooperate in
the 510K process to obtain FDA clearance for the Hearing Products and Methods, and will not publish any information related to
the products until such time as publication is appropriate in accordance with FDA regulations and similar industry regulations.
At the appropriate time the parties will cooperate in publication of data related to the Clinical Research and it is anticipated
that such publication will list the parties or their appropriate personnel as is standard practice in the industry for such publications,
including listing Erchonia as the manufacturer of the products. The parties will cooperate in good faith in preparing such publications.

 

		e.	During the term of this agreement, the parties agree that the treatment applications based upon the Clinical research will
be exclusively licensed to INND.

		7.	Term of Agreement: The initial term of this agreement will be three (3) years from the Effective
date first set forth above. Upon the expiration of the initial term, this agreement will automatically renew for successive one
(1) year renewal terms unless either party gives the other party not less than ninety (90) days written notice of its intent not
to renew this agreement. 

 

 

		8.	Termination: 

		a.	Either party may terminate this agreement upon a material breach of the other party which breach
is not cured within thirty (30) days after written notice of breach is given to the breaching party.

		b.	Upon expiration of the initial term of this agreement, either party may terminate this agreement
at any time upon ninety (90) days written notice to the other party. Notwithstanding the foregoing, the Exclusive License Agreement
will only be terminated in accordance with its terms.

		c.	Upon completion of the Clinical Research, either party may terminate this agreement upon ninety
(90) days written notice to the other party, if, in such party’s reasonable good faith determination, the results of the
Clinical Research show that: (i) the products and methods being evaluated are not reasonable viable or effective for the treatment
of the Hearing Disorders; (ii) the cost, time and effort involved in further development of the products and methods being evaluated
show that the project is not scientifically or economically viable or that further efforts in this regard are not economically,
medically or otherwise justifiable. 

		9.	Confidentiality: 

		a.	In connection with this Agreement, each party may disclose to the other party, or permit the
other party to have access to, information that is confidential and proprietary to the disclosing party (the “Confidential
Information”). Confidential Information includes but is not limited to the Hearing Products and Methods, designs for the
Hearing Products and Methods, know-how, business or marketing strategies, plans for the Hearing Products and Methods, plans for
research and development, development tools, financial information, production costs and information, and supplier and customer
lists and information and medical research conducted during the performance of this agreement; Clinical Research, and patient information
learned during Clinical Research. Confidential Information further includes any information identified or marked as “Confidential,”
“Proprietary,” or similarly marked. The terms of this agreement will also be considered Confidential Information.

		b.	Neither party will not copy, reproduce, disclose, disseminate or provide any Confidential Information
to any third party, without the prior written consent of the disclosing party. In addition, the parties agree that they will use
the Confidential Information only for the purpose of carrying out their obligations under this agreement. Upon termination of this
agreement for any reason, any recipient will return all Confidential Information and any copies of it to the Disclosing Party and
will remove and delete any such Confidential Information for any computers, computer systems or other electronic, magnetic or optical
media in its possession or control.

		c.	Nothing in this agreement will prevent any party from dealing with its own Confidential Information
in any manner it deems appropriate.

		d.	Notwithstanding the above, the following materials will not be deemed confidential:

		i.	Information which was in the public domain at the time of disclosure 

		ii.	Information which was published or otherwise became part of the public domain after disclosure
to the Distributor through no fault of the Distributor; and

		iii.	Information which was received from a third party who did not acquire it, directly or indirectly,
from Erchonia under an obligation of confidence except where required by law. 

 

		10.	Independent Contractors: It is understood that both Parties are independent contractors and engage
in the operation of their own respective businesses. Neither Party will be considered the agent of the other Party for any purpose
whatsoever nor does any Party have any authority to enter into any contract or assume any obligation for the other Party or to
make any warranty or representation on behalf of the other Party. Each Party is fully responsible for its own employees, servants
and agents, and the employees, servants and agents of one Party will not be deemed to be employees, servants and agents of the
other Party for any purpose. 

 

		11.	Public Announcements: No party will make any public disclosure or public announcement of any
information related to this agreement without the prior consent of the other party.

		12.	Assignment: No party may assign this agreement or any rights or obligations under this agreement
without the prior consent of the other party.

		13.	Arbitration. The parties intend to negotiate in good faith and resolve any dispute arising under
this Agreement. In the event the parties are unable to resolve any such dispute to binding arbitration for settlement in accordance
with the rules of the American Arbitration Association. Notwithstanding the foregoing, any party may seek and obtain emergency
or preliminary equitable or injunctive relief from any court of competent jurisdiction in order to prevent irreparable injury or
to preserve the status quo pending any ruling in arbitration. In any action seeking equitable or injunctive relief pursuant to
this paragraph (and notwithstanding any arbitration rule to the contrary), the Court (rather than the arbitrator) will have the
power to determine any questions of its jurisdiction or authority to issue such a ruling. 

		14.	General Provisions:

		a.	Modification: This agreement may only be modified by an agreement in writing signed by both parties.

		b.	Counterparts: This agreement may be executed in one or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument

		c.	Notices. All notices and communications required under this Agreement will be in writing and
will be delivered in person, or mailed, postage prepaid, by overnight express carrier, to the address of the parties listed at
the beginning of this Agreement, or to any other address as such party designates in a written notice to the other party. All notices
sent pursuant to the terms of this section will be deemed received on the date of delivery if personally delivered, or if sent
by overnight express carrier, on the next business day immediately following the day sent

		d.	Severability. The provisions of this Agreement will be deemed severable and the invalidity or
unenforceability of any provision will not affect the validity or enforceability of any other provisions hereof.

		e.	Governing Law. This Agreement shall be governed in all respects by the laws of the United States
and the State of Florida, except for conflict of laws provisions. The parties agree that for any dispute, controversy or claim
arising out of or in connection with this Agreement, venue and personal jurisdiction shall be in the federal or state court with
competent jurisdiction located in Brevard Country, Florida.

		f.	Entire Agreement. This Agreement constitutes and expresses the entire agreement and understanding
between the parties hereto with respect to the subject matter, all revisions discussions, promises, representation, and understanding
relative thereto, if any, being herein merged.

 

 

	
        Erchonia Corporation, LLC

         

         

        By ______________________________

         

         

        Title______________________________
	
        InnerScope Hearing Technologies, Inc.

         

         

        By ______________________________

         

         

        Title ______________________________

         

 

Exhibits

Exhibit A – Exclusive License AgreementExhibit 10.6

Attachment
A

 

Erchonia
CORPORATION

EXCLUSIVe
Distributor Agreement

 

This
agreement (“Agreement”) is made by and between Erchonia Corporation. (“Erchonia”) whose address is 650
Atlantis Rd., Melbourne, Florida, USA, 32904 and InnerScope Hearing Technologies Inc, (“Distributor”) whose address
is 2151 Professional Drive, Second Floor, Roseville, California, USA, 95661 hereafter referred to collectively as the (“Parties”).

Recitals

 

A.       Erchonia
is engaged in, among other things, the business of developing and promoting low level lasers. Erchonia desires to retain Distributor
to promote, distribute and sell such equipment listed in Schedule A (the “Products”).

B. Distributor is engaged in the business
of, among other things, selling medical products and services, specifically for the treatment of hearing disorders.

C.       Distributor
desires to obtain the exclusive right to distribute the Products pursuant to the terms set for in this Agreement.

D.       The
parties agree that these recitals shall be considered a term of this Agreement.

 

NOW, THEREFORE, the parties agree:

		1.	Grant of License. 

		a.	Subject to the terms set forth in this
agreement, Erchonia grants Distributor the exclusive, non-transferable right and license to promote, distribute and sell the Products
identified in Exhibit A to those type of customer specified in Exhibit B and only within the Territory specified in Exhibit B.
Distributor shall only distribute or sell the Products to customers who are licensed health care professionals and meet the other
requirements set forth in Exhibit B.

		b.	Erchonia retains the right, in its sole
discretion, to add, delete, upgrade, or modify the Products from time to time. Upon receipt of notice of such change, Distributor
shall cease to market and distribute earlier versions of the Products and/or Products deleted from Schedule A. Distributor will
deliver, at Erchonia’s expense, all recalled, discontinued or products otherwise rendered unmarketable (under the terms of
this paragraph) to Erchonia. Erchonia will fully reimburse Distributor for all costs related to the cost of materials and products
returned to Erchonia

		2.	Obligations of Distributor.

		a.	Distributor shall use its best efforts
to market, promote and sell the Products to the authorized customers in the Filed of Use and in the Territory during the term of
this agreement.

		b.	Distributor agrees that during the term
of this agreement it meet the minimum performance goals set forth in Exhibit C to this agreement. Failure to meet these minimum
performance goals for any period, shall, at Erchonia’s option (i) be considered a breach of this agreement for which Erchonia
shall have all the rights and remedies provided for herein upon a breach of this agreement, including termination of this agreement,
or (ii) shall give Erchonia to terminate or limit the exclusivity provisions of this agreement

		c.	Upon Erchonia’s reasonable request,
Distributor shall consult with Erchonia regarding Distributor’s marketing and promotion efforts in the Territory and Field
of Use and shall cooperate with Erchonia’s reasonable requests regarding Distributor’s marketing and promotional efforts.

		d.	Distributor shall maintain appropriate
records concerning the sales of the Products. Such records shall include at a minimum the name, address and telephone number of
each customer, the date of sale, a listing of the Products sold to each customer. Upon Erchonia’s request, Distributor shall
provide Erchonia with regular periodic reports including the information described in this paragraph. All such information shall
be available for inspection by Erchonia, upon reasonable notice. Distributor shall also maintain such other records related to
sales of the Products as Erchonia may reasonably request.

		e.	Distributor shall pay for all products
purchased in a timely manner.

		f.	Distributor shall not, and may not permit
any other person, including customers, to reproduce, distribute, sell or dispose of the Products, in whole or in part, except as
expressly permitted under this Agreement.

		g.	Distributor will at all times be and represent
itself to be an independent distributor, not an agent or employee of Erchonia.

		h.	Distributor may not make any contracts
or commitments on behalf of Erchonia nor make any warranties or other representations regarding the Products other than those authorized
herein.

		i.	Distributor must adhere to and comply with
any use recommendations or restrictions for the Products as indicated or recommended by Erchonia. Distributor shall not make any
statements, representations, or recommendations inconsistent with any use restriction or limitation. 

		j.	Distributor shall not sell or export the
Products outside the United States without prior written consent of Erchonia. To the extent sales of the Products outside the United
States are permitted, Distributor will be solely responsible to comply with all applicable import and export laws and regulations.

		k.	Distributor shall promptly notify Erchonia
of any complaint about negative, unwanted, deleterious, or other side effects due to the use of the Products, including the complainant’s
name, contact information, and date of complaint. 

		l.	During the term of this agreement Distributor
shall at all time act in responsible and professional manner. Distributor shall not do anything which is contrary to or which in
Erchonia’s reasonable business judgment is harmful to its honor, goodwill or reputation.

		m.	Distributor shall at all times comply with
all applicable laws and regulations.

		3.	Restriction on Promotion of Competing
Products. During the term of this agreement, Distributor shall not market, sell advertise or promote the sale or use of any
product or device which is competitive with or substantially similar to the Products, without the prior express written consent
of Erchonia, nor shall they assist any third party in doing so. Notwithstanding the foregoing, to the extent Distributor or Distributor’s
customer is a licensed health care professional or licensed health care practitioner, nothing in this paragraph shall prevent or
limit Distributor or Distributor’s customer from exercising their independent medical judgment with regard to the treatment
of any patient.

		4.	Orders, Payment, and Shipment.

		a.	Erchonia agrees to provide Products to
Distributor pursuant to orders placed by Distributor in the form of individual purchase orders issued by Distributor to Erchonia.
Such purchase orders shall set forth the quantity of each product ordered, the required delivery date, and the point of delivery.
The price for the Products shall be as designated in Schedule A. Erchonia may revise its prices from time to time and deliver a
written 90 day notice of the reasonable price revision to Distributor; provided that Erchonia agrees that the prices listed in
Exhibit A shall not be increased during the first 90 days of this agreement.

		b.	Erchonia shall submit invoices to Distributor
after or concurrent with shipment of Products to Distributor at the delivery address. Distributor shall pay half (1/2) of the purchase
price prior to shipment and the remaining balance 30 days after shipment of the Products. Payments received after the 30 day calendar
period will be subject to a late fee of 1.5% of the invoice amount. All payments shall be made in U.S. Dollars.

		c.	Distributor is responsible for all shipping
costs and applicable sales taxes. Distributor is also responsible for all customs and duties applicable to any sales of the Products
outside the United States, to the extent such sales are authorized or permitted.

		5.	Expenses and Taxes.

		a.	Distributor is responsible for any out-of-pocket
expenses incurred including but not limited to Products for demonstration, Products for treatment, sales and promotional material,
seminar costs including room rental, and travel-related expenses. 

		b.	Distributor is responsible for all federal,
state and local taxes attributable to compensation received pursuant to this Agreement, including sales, income, social security,
and unemployment.

		6.	Term and Termination.

		a.	Unless terminated earlier as provided in
this agreement, this Agreement shall have an initial term of three (3) years. This agreement shall automatically renew for a period
of three (3) years and upon the parties mutual agreement on new minimum performance goals for the renewal period. 

		b.	Either party may terminate this Agreement
in the event of a material breach by the other party, provided the breaching party is first given reasonably detailed, written
notice of the breach. If the breach is not cured within ten days of such notice, the Agreement will terminate immediately. 

		c.	This Agreement may be terminated immediately
by Erchonia under any of the following conditions: (a) if the Distributor is declared insolvent or bankrupt; (b) if a petition
is filed in any court to declare Distributor bankrupt or for reorganization under the Bankruptcy Law or any similar statute and
such petition is not dismissed within 30 days.

		d.	Upon termination of this Agreement by either
party, Distributor shall immediately cease using the Trademarks (defined below) and discontinue all representations that it is
an authorized distributor of the Products or is in anyway affiliated with Erchonia.

		e.	Except upon termination due to Distributors
breach of this agreement, Erchonia will complete delivery of all purchase orders accepted by it prior to termination of this agreement;
provided that Distributor shall remain liable for full payment of all such orders.

		f.	The provisions of paragraphs 2 (c) (reporting),
7 (Confidentiality), 8 (Protection of Intellectual Property, 10 (Warranty; Limitation of Liability), 11 (Indemnification), 12 (General
Provisions) shall survive termination of this agreement.

		7.	Confidentiality.

		a.	In connection with this Agreement, the
Distributor will have disclosed to it or otherwise have access to information that is confidential and proprietary to Erchonia.
Such information includes but is not limited to Product designs, methods and processes, know-how, business or marketing strategies,
Product plans, plans for research and development, development tools, financial information, production costs and information,
and supplier and customer lists and information and medical research conducted in pursuit of intended medical applications of the
product. 

		b.	Distributor will not copy, reproduce, disclose,
disseminate or provide any confidential information to any third party, without the prior written consent of Erchonia. In addition,
Distributor agrees that it will use such confidential information only for the purpose of carrying out its obligations under this
agreement. Upon termination of this agreement for any reason, Distributor will return all such confidential information and any
copies of it to Erchonia and will remove and delete any such confidential information for any computers, computer systems or other
electronic, magnetic or optical media in its possession or control.

		c.	Notwithstanding the above, the following
materials will not be deemed confidential:

		i.	Information which was in the public domain
at the time of disclosure 

		ii.	Information which was published or otherwise
became part of the public domain after disclosure to the Distributor through no fault of the Distributor; and

		iii.	Information which was received from a third
party who did not acquire it, directly or indirectly, from Erchonia under an obligation of confidence except where required by
law. 

		8.	Protection of Intellectual Property.

		a.	Ownership of all applicable copyrights,
trade secrets, patents and other intellectual property rights in the Products are and shall at all times remain vested in Erchonia,
its licensors or assigns. 

		b.	Distributor shall promptly inform Erchonia
of any suggested modifications or improvements to the Products and shall, upon Erchonia’s request and at Erchonia’s
expense, execute any documents necessary or appropriate to assign or confirm that all intellectual property rights in any modification
or improvement related to the Products are fully vested in Erchonia.

		c.	Distributor shall not modify nor create
or attempt to create, by reverse engineering or otherwise, the Products supplied hereunder, or adapt the Products in any way for
other uses without Erchonia’s prior written consent

		d.	Several of the Products may be protected
by one or more U.S. or international patents. Distributor shall take reasonable steps to ensure that all patent markings and/or
notices for or related to the Products are properly placed on the Products, and on any advertising or marketing materials for the
Products, and it shall not remove any such markings, notices or labels from any of the Products or related materials or related
advertising or marketing materials.

		9.	Use of Erchonia Trademarks.

		a.	All trademarks, including service marks,
trade names and trade address that Erchonia uses in connection with the license granted hereunder (the “Trademarks”)
are and remain the exclusive property of Erchonia. Nothing contained in this Agreement shall be deemed to give Distributor any
right, title or interest in any Trademark. The Trademarks include but are not limited to: the names “Erchonia”, “Erchonia
Medical”, the phrase “Erchonia, Designs Into the Future”, the Erchonia logo, packaging design, and Product design.

		b.	During the term of this Agreement, Erchonia
grants Distributor a non-exclusive, non-transferable license to use the Trademarks for advertising and promotion of Products. Distributor
shall use the Trademarks according to quality standards defined by Erchonia which shall be reasonable and shall be no greater than
the standards used by Erchonia for its own advertising and promotion.

		c.	Upon Erchonia’s request, the Distributor
shall at its expense deliver to Erchonia representative samples of labels, advertisements, catalogs, spec sheets, and the like,
containing the Trademarks, and to inspect all of Distributors websites, social media accounts and any online information posted
by Distributor, to ensure that such Trademarks are used only in a manner complaint with the quality standards. Should such material
fail to meet the standards set by Erchonia, as determined by Erchonia in its sole discretion, Distributor shall not use and shall
withdraw and retract any promotion or advertising that Erchonia finds unsuitable and will at its expense destroy such materials
or make them compliant. 

		d.	All goodwill associated with such trademark
use by Distributor inures to the benefit of Erchonia.

		10.	Warranty; Limitation of Liability.

		a.	Distributor Warranty. Distributor
represents that it has requisite knowledge and experience to provide the products and services contracted for herein. 

		b.	Erchonia Warranty and Warranty Limitations:
Other than the written warranty accompanying the Products, Erchonia DISCLAIMS ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF THIRD PARTY INTELLECTUAL
PROPERTY RIGHTS. 

		c.	IN NO EVENT SHALL Erchonia BE LIABLE FOR
ANY LOSS OF PROFIT OR ANY OTHER COMMERCIAL DAMAGE, INCLUDING BUT NOT LIMITED TO SPECIAL, INCIDENTAL, CONSEQUENTIAL OR OTHER INDIRECT
DAMAGES UNDER ANY CAUSE OF ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, CLAIMS ARISING FROM
MALFUNCTION OR DEFECTS IN THE PRODUCTS. 

		11.	Indemnification. 

		a.	Erchonia shall indemnify, defend and hold
Distributor harmless from any claims, demands, liabilities or expenses, including reasonable attorneys' fees, incurred by Distributor
as a result of any claim or proceeding against Distributor arising out of or based upon: (i) a claim that the Products infringe
upon any U.S. patent, trademark, copyright or other intellectual property rights of any third party, (ii) the products fail to
comply with applicable federal law or regulation.

		b.	Distributor shall promptly notify Erchonia
of any suit or claim by a third party relating to the Products or use of the Products and Distributor shall promptly furnished
Erchonia with a copy of each communication, notice or other action relating to said claim. Erchonia shall have the right to assume
sole authority to conduct the trial or settlement of such claim or any negotiations related to any claim for which Erchonia is
obligated to indemnify Distributor at Erchonia expense; and Distributor shall provide reasonable information and assistance requested
by Erchonia in connection with such claim or suit.

		c.	Distributor shall indemnify, defend and
hold Erchonia harmless from any claims, demands, liabilities or expenses, including reasonable attorneys' fees, incurred by Erchonia
as a result of any claim or proceeding against Erchonia arising out of or based upon (i) the combination, operation or use of the
Products with any hardware, products, programs or data not supplied or approved in writing by Erchonia, if such infringement would
have been avoided but for such combination, operation or use; (ii) the modification of the Products by Distributor or its Customers;
(iii) any breach of this agreement by Distributor; or (iv) any negligent, grossly negligent, or willful or reckless acts by Distributor,
or any of its officers, employees, agents or representatives.

		12.	General Provisions: 

		a.	Assignment. Distributor may not
assign to any person any duties or obligations arising under this Agreement without Erchonia’s prior written consent (which
consent may be withheld in Erchonia’s sole discretion). Notwithstanding the foregoing, the Distributor may engage individuals,
at the sole expense and responsibility of the Distributor, to assist the Distributor in performing any of the Distributor’s
duties or obligations arising under this Agreement. Erchonia may not assign any duties or obligations arising under this Agreement,
except to a successor who acquires substantially all of the assets of Erchonia. 

		b.	Arbitration. The parties intend
to negotiate in good faith and resolve any dispute arising under this Agreement. In the event the parties are unable to resolve
any such dispute to binding arbitration for settlement in accordance with the rules of the American Arbitration Association, the
arbitrator will determine the manner in which the parties are to pay the costs of such arbitration, including reasonable attorneys'
fees

		c.	Notices. All notices and communications
required under this Agreement will be in writing and will be delivered in person, faxed or mailed, postage prepaid, by overnight
express carrier, to the address of the parties listed at the beginning of this Agreement, or to any other address as such party
designates in a written notice to the other party. All notices sent pursuant to the terms of this section will be deemed received
on the date of delivery if personally delivered or faxed, or if sent by overnight express carrier, on the next business day immediately
following the day sent

		d.	Severability. The provisions of
this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the validity or
enforceability of any other provisions hereof.

		e.	Governing Law. This Agreement shall
be governed in all respects by the laws of the United States and the State of Florida, except for conflict of laws provisions.
The parties agree that for any dispute, controversy or claim arising out of or in connection with this Agreement, venue and personal
jurisdiction shall be in the federal or state court with competent jurisdiction located in Brevard Country, Florida.

		f.	Entire Agreement. This Agreement
constitutes and expresses the entire agreement and understanding between the parties hereto with respect to the subject matter,
all revisions discussions, promises, representation, and understanding relative thereto, if any, being herein merged.

Dated: .

 

	
        Erchonia Medical Corporation.

         

         

        By _____________________

         

         

        Its _____________________
	
        Distributor:

         

        ________________________

        InnerScope Hearing Technologies, Inc.

         

         

        By _______________________

         

         

        Its _______________________

 

Exhibits

Exhibit A – Products and Pricing

Exhibit B – Territory and Field of Use

Exhibit C – Minimum Performance Goals

 

Rev. IMS 8/29/2018 3:38 PM

 

 

    	 

    	 

    

SCHEDULE A

 

ERCHONIA CORPORATION Products and Pricing

 

Erchonia 3LT Laser – Hearing Products
Version (product may be renamed)

 

All prices are per unit sold excluding freight,
duty, and taxes.

 

Prices will remain in effect for the period
of the initial 5 year term.

 

Wholesale Price

Item       

To Be determined when successful research project
is complete. 

 

 

 

The parties agree to cooperate in developing
a private label version of the above products on the terms the parties may agree. The private label products shall be versions
of the above products labeled and packaged to bear the Distributor’s name or the Distributor’s trade name. In addition,
customized packaging for the private label products may also be developed on the terms agreed to by the parties. Pricing for the
private labeled products may be modified due to any increased costs of production or packaging for the private labeled products.
In addition, Erchonia may require reasonable minimum purchasing requirements for each run of private labeled products.

 

 

    	 

    	 

    

EXHIBIT B

 

Licensed Territory

Worldwide

 

Field of Use

The products will be sold only for the
use in the treatment of hearing disorders.

 

 

    	 

    	 

    

Exhibit C

Minimum Performance Goals

Minimum Performance won’t be determined
until FDA 50k market clearance is obtained. At that time parties will operate in good faith to set performance goals.

Note: Performance goals to begin 120
days after receipt of FDA market clearance.

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