AMENDMENT № 2 TO THE LICENSE AGREEMENT EFFECTIVE THE 15TH DAY OF JUNE 2015 AND AMENDED THE 14TH DAY of SEPTEMBER 2015 BETWEEN STANFORD UNIVERSITY AND CERIBELL
EXHIBIT 10.08
Certain confidential information contained in this document, marked by [***], has been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type of information that the registrant treats as private or confidential.
S11-220 : MKA |
Confidential AMENDMENT |
5/10/2017 |
AMENDMENT № 2
TO THE
LICENSE AGREEMENT EFFECTIVE THE 15TH DAY OF JUNE 2015
AND AMENDED THE 14TH DAY of SEPTEMBER 2015
BETWEEN
STANFORD UNIVERSITY
AND
Effective the 1st day of April 2017, THE BOARD OF TRUSTEES OF THE XXXXXX XXXXXXXX JUNIOR UNIVERSITY (“Stanford”), an institution of higher education having powers under the laws of the State of California, and Ceribell (“Ceribell”), a corporation having a principal place of business at 000 Xxxxxx Xx., #000, Xxxx Xxxx, Xxxxxxxxxx, 00000, agree as follows:
Stanford and Ceribell are parties to a License Agreement effective the 15th day of June 2015 (“Original Agreement”) covering dockets entitled “Method of Sonifying Brain Electrical Activity”, “Method of Sonifying Signals Obtained from a Living Subject,”, and “Seizure Detection Device disclosed in Stanford dockets S11-220, S13-470 and 14-459, from the laboratory of Drs. Xxxxx Xxxxxxx and Xxxxx Xxxxx.
Stanford and Xxxxxxxx wish to amend the Original Agreement to modify the financial terms.
The yearly maintenance fee of [***] due [***] is waived.
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S11-220 : MKA |
Confidential AMENDMENT |
5/10/2017 |
Milestone Payments. Ceribell will pay Stanford the following milestone payments:
$36,000 upon Xxxxxxxx’s first commercial sale of Licensed Product.
Earned Royalty. Ceribell will pay Stanford earned royalites (Y%) on Net Sales as follows:
[***] of Net Sales
Ceribell agrees that Licensed Product will be sold at a reasonable price, comparable to similar products in market.
The parties execute this Amendment № 2 by their duly authorized officers or representatives.
THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY |
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Signature: |
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/s/ Xxxxxxxxx Xx |
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Name: |
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Xxxxxxxxx Xx |
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Title: |
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Executive Director |
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Date: |
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May 10, 2017 |
CERIBELL |
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Signature: |
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/s/ Xxxxxxxx Xxxx |
Name: |
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Xxxxxxxx Xxxx |
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S11-220 : MKA |
Confidential AMENDMENT |
5/10/2017 |
Title: |
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CEO |
Date: |
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5/9/2017 |
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