SEC Contract Filing

Filing Date: 2018-04-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.45
<SEQUENCE>9
<FILENAME>rsls-20171231ex10458d781.htm
<DESCRIPTION>EX-10.45
<TEXT>
<!--HTML document created with Merrill Bridge 7.3.329.0-->
<!--Created on: 4/2/2018 4:23:26 PM-->
<html>
	<head>
 <title>
 rsls_Ex10_45
 </title>
	</head>
	<body><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
 <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
 <tr>
 <td valign="top" style="width:93.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
 <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
 <font style="display:inline;font-size:1pt;">&nbsp;</font></p>
 </td>
 <td valign="top" style="width:07.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
 <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
 <font style="display:inline;font-size:1pt;">&nbsp;</font></p>
 </td>
 </tr>
 <tr>
 <td valign="top" style="width:93.00%;padding:0pt 6.5pt">
 <p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;"><img src="rsls20171231ex10458d781001.gif" style="width: 7.083333in; height: 9.28125in" alt="Ex10_45_ex 10_45_page_01.gif"></font></p>
 </td>
 <td valign="top" style="width:07.00%;padding:0pt 6.5pt">
 <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 1pt;">
 <font style="display:inline;color:#FFFFFF;font-size:1pt;">EXHIBIT 10.45 ROYALTY AGREEMENT This Agreement (this "Agreement") is made as of December 18, 2006, by and between Intersect Partners, LLC, a California limited liability (&#x201C;Intersect"), and Abdominis, Inc., a Delaware corporation (&#x201C;Abdominis&#x201D;), (hereinafter referred to collectively as the &#x201C;Parties&#x201D; and individually as a "Party"). RECITALS A. Intersect, pursuant to that certain Intellectual Property Assignment Agreement, by and between Intersect and Abdominis dated September 16, 2005 (the &#x201C;Assignment&#x201D;), has previously assigned its interests in the Products and the Patent Rights to Abdominis. B. The Parties now wish to specify in certain detail the consideration that is to be paid to Intersect by Abdominis for the Assignment. NOW THEREFORE, in consideration of the mutual obligations set forth in this Agreement, Intersect and Abdominis hereby agree as follows: ARTICLE I DEFINITIONS 1.1 Affiliate. "Affiliate" shall mean any entity which controls, is controlled by or is under common control with another entity. 1.2 Net Proceeds. "Net Proceeds" shall mean the total proceeds received from the sale of either the Patent Rights, or the sale of Products by Abdominis, to a Third Party, less all reasonable costs incurred by Abdominis in completing such sale, including but not limited to, attorneys' fees, accountants&#x2019; fees, appraisers' fees and any commissions. 1.3 Net Sales. &#x201C;Net Sales&#x201D; shall mean the total amount invoiced to Third Parties by Abdominis or its Affiliates in connection with the sale, lease or use of a Product, Jess, to the extent actually incurred: (a) allowances and adjustments credited or payable, including credit for damaged, outdated and returned products; (b) trade, cost or quantity discounts earned or granted; (c) transportation charges (including insurance costs), sales taxes, excise taxes and duties, and other similar charges; (d) wholesaler chargebacks; and (e) taxes on sale, transportation or use paid by Abdominis. Net Sales shall be calculated in accordance with Abdominis&#x2019; standard internal policies and procedures. Net Sales shall not include sales by Abdominis to its Affiliates for resale, provided that if Abdominis sells Product to an Affiliate for resale, Net Sales shall include the amounts invoiced by</font></p>
 </td>
 </tr>
 </table></div>
 <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 1pt;">
 <font style="display:inline;font-size:1pt;">&nbsp;</font>
 </p>
 <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;"></font>
 </p>
 <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"></table></div></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;">
 <p><font size="1"> </font></p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"></div><div style="margin-left:4.41176470588235%;margin-right:4.41176470588235%;"><div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
 <tr>
 <td valign="top" style="width:93.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
 <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
 <font style="display:inline;"></font></p>
 <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
 <font style="display:inline;font-size:1pt;">&nbsp;</font></p>
 </td>
 <td valign="top" style="width:07.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;