Contract analysis

1. Total Agreement Value. The total deal value of the Agreement across all Veridian Health Research Network participating sites is Eighty Million Dollars ($80,000,000) over the projected life of the CLARION trial, subject to adjustment based on enrollment rates, site activation schedules, and protocol amendment activity as set forth in Exhibit C (Budget and Payment Schedule) to the Agreement.

2. Per-Patient Site Fees. Per-patient site fees under the Agreement shall be Fifty-Two Thousand Dollars ($52,000) per enrolled subject, payable in four (4) equal milestone-based installments of Thirteen Thousand Dollars ($13,000) each, as follows: (a) First Installment ($13,000): Payable upon confirmed randomization of the subject into the CLARION trial, as documented by the electronic data capture system and verifie

3. Start-Up Fees. Start-up fees specific to Graystone University Medical Center shall be Seventy-Five Thousand Dollars ($75,000), payable in two (2) equal installments of Thirty-Seven Thousand Five Hundred Dollars ($37,500) each, as follows: (a) First Start-Up Installment ($37,500): Payable upon site activation, defined as the date on which the Sponsor issues a site activation letter confirming that all regulatory, c

4. Annual Site Maintenance Fees. Graystone University Medical Center shall receive annual site maintenance fees of Forty Thousand Dollars ($40,000) per annum, payable in advance on each anniversary of the site-activation date, commencing on the first anniversary thereof. Such fees shall be prorated for any partial year at the end of the trial on a per diem basis calculated as $40,000 divided by 365.

5. Payment Terms. All payments under the Agreement shall be made within forty-five (45) calendar days from the Sponsor's receipt of a proper invoice, submitted in the form and manner set forth in Exhibit C (Budget and Payment Schedule) to the Agreement. Invoices shall be submitted through the Veridian Health Research Network centralized invoicing platform, with the exception of start-up fees which may be invoiced dir

1. Due Authorization. Dr. Corwin has been duly authorized by the Board of Trustees (or equivalent governing body) of Graystone University Medical Center to execute this Signature Page and to bind the institution to the terms and conditions of the Agreement, including all Exhibits and Schedules thereto. Such authorization was granted by resolution of the Board of Trustees adopted at a duly convened meeting held on or

2. No Conflict. The execution, delivery, and performance of the Agreement by Graystone University Medical Center does not and will not (a) violate or conflict with the articles of incorporation, bylaws, or other organizational documents of Graystone University Medical Center, (b) violate or conflict with any law, regulation, order, judgment, or decree applicable to Graystone University Medical Center, or (c) conflict

3. Internal Approvals and IRB Status. Graystone University Medical Center has obtained all necessary internal institutional approvals for its participation in Protocol PPC-4871-III under the Agreement, including institutional review and approval from the Graystone University Institutional Review Board (IRB Registration Number: IRB00012847), or, in the alternative, such IRB approval will be obtained in full prior to t

1. Penterra Pharmaceuticals Corp. — Signature page executed by Nathaniel Briggs, Esq., Vice President & General Counsel, on behalf of the Sponsor.

2. Veridian Health Research Network, Inc. — Signature page executed by Dr. Franklin Osei, M.D., Ph.D., President & Chief Executive Officer, on behalf of the Site Network. In addition to this Signature Page executed by Graystone University Medical Center (Site 001) as the Lead Participating Site Institution, Individual Site Agreements in the form of joinder agreements substantially in the form of Exhibit J to the Agre