Common use of INTENT TO COLLABORATE Clause in Contracts

INTENT TO COLLABORATE. The Parties hereby agree to enter into this Agreement to set forth the terms and conditions of their collaboration to innovate, and leverage their collectively experience and intellectual property to develop and create, a PPG based wrist wearable device that delivers a unique combination of clinical and lifestyle related health metrics, insights, and solutions to users, as well as to set forth the Parties’ mutual understanding and agreement with respect to marketing and commercialization of such product and related services. Such wearable device will be commercialized as “CONNEQT Band” (“CT Band”). Each of CONNEQT and LifeQ will contribute certain health parameters into the CT Band and deliver such parameters (or parts thereof) to users through a CONNEQT mobile application (“CT Mobile App”), which is to be developed by CONNEQT with input from LifeQ. Access to the LifeQ mobile application or components thereof will also be provided.