Exhibit 10.1
FIFTH AMENDMENT TO
LOAN AND SECURITY AGREEMENT
THIS FIFTH AMENDMENT to Loan and Security Agreement (this “Amendment”) is
entered into as of December 13, 2018, by and between OXFORD FINANCE LLC, a
Delaware limited liability company with an office located at 133 North Fairfax
Street, Alexandria, Virginia 22314 (“Oxford”), as collateral agent (in such
capacity, “Collateral Agent”), the Lenders listed on Schedule 1.1 of the Loan
Agreement (as defined below) or otherwise party thereto from time to time (each
a “Lender” and collectively, the “Lenders”) including Oxford in its capacity as
a Lender and CONFORMIS, INC., a Delaware corporation (“Conformis”) and IMATX,
INC., a California corporation (“ImaTx”) and CONFORMIS CARES LLC, a Delaware
limited liability company (“Conformis Cares” and together with Conformis and
ImaTX, individually, collectively, jointly and severally, “Borrower”), each with
offices located at 600 Technology Park Drive, Billerica, Massachusetts 01821.
RECITALS
A.Collateral Agent, Lenders and Borrower have entered into that certain Loan and
Security Agreement dated as of January 6, 2017 (as amended from time to time,
including by that certain First Amendment to Loan and Security Agreement dated
as of March 9, 2017, that certain Second Amendment to Loan and Security
Agreement dated as of June 30, 2017, that certain Third Amendment to Loan and
Security Agreement dated as of December 18, 2017 and that certain Fourth
Amendment to Loan and Security Agreement dated as of July 31, 2018, the “Loan
Agreement”).
B.Lenders have extended credit to Borrower for the purposes permitted in the
Loan Agreement.
C.Borrower has requested that Collateral Agent and Lenders (i) modify the
prepayment provisions; (ii) modify the Financial Covenants; and (iii) make
certain other revisions to the Loan Agreement as more fully set forth herein.
D.Collateral Agent and Lenders have agreed to make such modifications, but only
to the extent, in accordance with the terms, subject to the conditions and in
reliance upon the representations and warranties set forth below.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing recitals and other good and
valuable consideration, the receipt and adequacy of which is hereby
acknowledged, and intending to be legally bound, the parties hereto agree as
follows:
1.Definitions. Capitalized terms used but not defined in this Amendment shall
have the meanings given to them in the Loan Agreement.
2.Amendments to Loan Agreement.
2.1    Section 2.1.2 (Term Loans). Section 2.1.2(d) of the Loan Agreement hereby
is amended and restated in its entirety as follows:
“(d)    Permitted Prepayment of Term Loans.
i.    Borrower shall have the option to prepay all, but not less than all, of
the Term Loans advanced by the Lenders under this Agreement, provided Borrower
(i) provides written notice to Collateral Agent of its election to prepay the
Term Loans at least ten (10) days prior to such prepayment, and (ii) pays to the
Lenders on the date of such prepayment, payable to each Lender in accordance
with its respective Pro Rata Share, an amount equal to the sum of (A) all
outstanding principal of the Term Loans plus accrued and unpaid interest thereon
through the prepayment date,

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(B) the Final Payment, (C) the Prepayment Fee, plus (D) all other Obligations
that are due and payable, including Lenders’ Expenses and interest at the
Default Rate with respect to any past due amounts.
ii.    Notwithstanding anything herein to the contrary, Borrower shall also have
the option to prepay part of Term Loans advanced by the Lenders under this
Agreement, provided Borrower (i) except with respect to the Identified
Prepayment, provides written notice to Collateral Agent of its election to
prepay the Term Loans at least ten (10) days prior to such prepayment, (ii)
prepays such part of the Term Loans in an amount of at least the Identified
Prepayment, and (iii) pays to the Lenders on the date of such prepayment,
payable to each Lender in accordance with its respective Pro Rata Share, an
amount equal to the sum of (A) the portion of outstanding principal of such Term
Loans being prepaid plus all accrued and unpaid interest thereon through the
prepayment date, (B) the applicable Final Payment with respect to the portion of
such Term Loans being prepaid, and (C) all other Obligations that are then due
and payable, including Lenders’ Expenses and interest at the Default Rate with
respect to any past due amounts, and (D) the applicable Prepayment Fee with
respect to the portion of such Term Loans being prepaid. For the purposes of
clarity, any partial prepayment shall be applied pro-rata to all outstanding
amounts under each Term Loan, and shall be applied pro-rata within each Term
Loan tranche to reduce amortization payments under Section 2.2(b) on a pro-rata
basis.”
2.2    Section 6.8 (Financial Covenant). Section 6.8 of the Loan Agreement
hereby is amended and restated in its entirety as follows:
“6.8    Financial Covenants.
(a)    Minimum Product Revenue. Borrower shall achieve trailing six (6) month
Product Revenue, to be tested as of the last day of the applicable month, on a
consolidated basis with respect to Borrower and its Subsidiaries, of not less
than the amounts set forth below for each respective testing date:
Testing Date
Minimum Product Revenue
December 31, 2018
$35,000,000.00
January 31, 2019
$35,000,000.00
February 28, 2019
$35,000,000.00
March 31, 2019
$35,000,000.00
April 30, 2019
$35,000,000.00
May 31, 2019
$35,000,000.00
June 30, 2019
$35,000,000.00
July 31, 2019
$35,000,000.00
August 31, 2019
$35,000,000.00
September 30, 2019
$35,000,000.00
October 31, 2019
$35,000,000.00
November 30, 2019
$35,000,000.00
December 31, 2019
$35,000,000.00

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New minimum Product Revenue levels with respect to the fiscal year commencing
January 1, 2020 and each fiscal year thereafter shall be established by the
mutual agreement of Borrower, Collateral Agent and Lenders based on Product
Revenue projections delivered by Borrower to Collateral Agent and the Lenders no
later than November 30, 2019 with respect to the fiscal year commencing January
1, 2020 and November 30 for each subsequent fiscal year and pursuant to an
amendment to this Agreement which Borrower hereby agrees to execute no later
than December 31, 2019 with respect to the fiscal year commencing January 1,
2020 and December 31 for each subsequent fiscal year; provided that (a) any
agreement by the Collateral Agent and the Lenders to establish new minimum
Product Revenue levels shall be conditioned on receipt of revenue projections
that are acceptable to Collateral Agent and Lenders in their sole discretion;
and (b) if Borrower, Collateral Agent and Lenders do not execute an amendment to
establish new minimum Product Revenue levels by December 31 of the applicable
fiscal year, then (i) on or before February 28 of the following fiscal year,
Borrower shall deliver to Collateral Agent and Lenders an executed term sheet,
satisfactory to Collateral Agent and Lenders in their sole discretion, for a new
credit facility for Borrower, the proceeds of which will be used to repay the
Obligations (other than inchoate indemnity obligations and other obligations
that are stated to survive the termination of the Agreement) in full in cash
(the “Refinancing Term Sheet Requirement”), and (ii) on or before March 31 of
the following fiscal year, Borrower shall repay the Obligations (other than
inchoate indemnity obligations and other obligations that are stated to survive
the termination of the Agreement) in full in cash with the proceeds from such
new credit facility (the “Payoff Requirement”) and it shall be an immediate
Event of Default if Borrower does not satisfy either the Refinancing Term Sheet
Requirement or the Payoff Requirement by such dates. For illustration purposes
only, if Borrower, Collateral Agent and Lenders do not execute an amendment to
establish new minimum Product Revenue levels by December 31, 2019 for the fiscal
year commencing January 1, 2020, Borrower shall satisfy (i) the Refinancing Term
Sheet Requirement on or before February 28, 2020, and (ii) the Payoff
Requirement on or before March 31, 2020.
(b)    Minimum Cash.    Borrower shall at all times maintain not less than Five
Million Dollars ($5,000,000.00) in cash in Deposit Accounts subject to Control
Agreements in favor of Collateral Agent.”
2.3    Section 13.1 (Definitions). The following term and its definition hereby
is hereby added to Section 13.1 of the Loan Agreement as follows
“Identified Prepayment” means a prepayment of such part of the Term Loans in the
amount of, with respect to the principal amount being prepaid, Fifteen Million
Dollars ($15,000,000.00), being made by the Borrower in connection with, and as
a condition to the effectiveness of, the Fifth Amendment to this Agreement.
2.4    Section 13.1 (Definitions). The following term and its definition hereby
is amended and restated in its entirety to Section 13.1 of the Loan Agreement as
follows:
“Final Payment” is a payment (in addition to and not a substitution for the
regular monthly payments of principal plus accrued interest) due on the earliest
to occur of (a) the Term Loan Maturity Date, or (b) the acceleration of any Term
Loan, or (c) the prepayment of a Term Loan pursuant to Section 2.1.2(c) or (d),
equal to the principal amount of such Term Loan that is prepaid or required to
be paid, multiplied by the Final Payment Percentage, payable to Lenders in
accordance with their respective Pro Rata Shares.
2.5    Section 13.1 (Definitions). The following term and its definition hereby
is amended and restated in its entirety to Section 13.1 of the Loan Agreement as
follows:
“Prepayment Fee” is, with respect to any Term Loan subject to prepayment prior
to the Term Loan Maturity Date, whether by mandatory or voluntary prepayment,
acceleration or otherwise, an additional fee payable to the Lenders in amount
equal to (i) if the prepayment is made on or prior to the first anniversary of
the Funding Date of such Term Loan, three percent (3.00%) of the principal

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amount of such Term Loan prepaid, (ii) if the prepayment is made after the first
anniversary of the Funding Date of such Term Loan but on or prior to the second
anniversary of the Funding Date of such Term Loan, (x) one percent (1.00%) of
the principal amount of such Term A Loan prepaid and (y) two percent (2.00%) of
the principal amount of such Term B Loan prepaid or (iii) if the prepayment is
made after the second anniversary of the Funding Date of such Term Loan, one
percent (1.00%) of the principal amount of such Term Loan prepaid.
2.6    Exhibit C (Compliance Certificate) to the Loan Agreement is hereby
replaced with Exhibit C attached hereto.
3.Limitation of Amendment.
3.1    The amendments set forth in Section 2 above, are effective for the
purposes set forth herein and shall be limited precisely as written and shall
not be deemed to (a) be a consent to any amendment, waiver or modification of
any other term or condition of any Loan Document, or (b) otherwise prejudice any
right or remedy which Collateral Agent or any Lender may now have or may have in
the future under or in connection with any Loan Document.
3.2    This Amendment shall be construed in connection with and as part of the
Loan Documents and all terms, conditions, representations, warranties, covenants
and agreements set forth in the Loan Documents, except as herein amended, are
hereby ratified and confirmed and shall remain in full force and effect.
4.Representations and Warranties. To induce Collateral Agent and Lenders to
enter into this Amendment, Borrower hereby represents and warrants to Collateral
Agent and Lenders as follows:
4.1    Immediately after giving effect to this Amendment (a) the representations
and warranties contained in the Loan Documents are true, accurate and complete
in all material respects as of the date hereof (except to the extent such
representations and warranties relate to an earlier date, in which case they are
true and correct in all material respects as of such date), and (b) no Event of
Default has occurred and is continuing;
4.2    Borrower has the power and authority to execute and deliver this
Amendment and to perform its obligations under the Loan Agreement, as amended by
this Amendment;
4.3    The organizational documents of Borrower delivered to Collateral Agent
and Lenders in connection with the Fourth Amendment to the Loan Agreement dated
as of July 31, 2018 remain true, accurate and complete and have not been
amended, supplemented or restated and are and continue to be in full force and
effect;
4.4    The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment, have been duly authorized;
4.5    The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment, do not and will not contravene (a) any material Requirement
of Law or regulation binding on or affecting Borrower, (b) any material
contractual restriction with a Person binding on Borrower, (c) any order,
judgment or decree of any court or other governmental or public body or
authority, or subdivision thereof, binding on Borrower, or (d) the
organizational documents of Borrower;
4.6    The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment, do not require any order, consent, approval, license,
authorization or validation of, or filing, recording or registration with, or
exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower; and
4.7    This Amendment has been duly executed and delivered by Borrower and is
the binding obligation of Borrower, enforceable against Borrower in accordance
with its terms, except as such enforceability may

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be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or
other similar laws of general application and equitable principles relating to
or affecting creditors’ rights.
5.Counterparts. This Amendment may be executed in any number of counterparts and
all of such counterparts taken together shall be deemed to constitute one and
the same instrument.
6.Effectiveness. This Amendment shall be deemed effective upon (i) the due
execution and delivery to Collateral Agent and Lender of (a) this Amendment by
each party hereto, and (b) the Corporate Borrowing Certificates attached hereto,
and (ii) Borrower’s payment of, (a) (I) the Identified Prepayment, to be applied
towards the original principal amounts outstanding under the Term Loan, (II) the
applicable Final Payment, (III) the applicable Prepayment Fee, and (IV) any
accrued and unpaid interest, each due in accordance with Section 2.1.2(d) of the
Loan Agreement as amended by this Fifth Amendment, and (b) all Lenders’ Expenses
incurred and invoiced through the date of this Amendment.
[Balance of Page Intentionally Left Blank]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered as of the date first written above.
BORROWER:
 
 
 
 
 
CONFORMIS, INC.
 
 
 
 
 
 
 
 
By:          /s/ Mark Augusti
 
 
Name: Mark Augusti
 
 
Title: President & CEO
 
 
 
 
 
 
 
 
IMATX, INC.
 
 
 
 
 
By:          /s/ Mark Augusti
 
 
Name: Mark Augusti
 
 
Title: CEO
 
 
 
 
 
 
 
 
CONFORMIS CARES LLC
 
 
 
 
 
 
 
 
By:          /s/ Mark Augusti
 
 
Name: Mark Augusti
 
 
Title: CEO
 
 

[Signature Page to Fifth Amendment to Loan and Security Agreement]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered as of the date first written above.
COLLATERAL AGENT AND LENDER:
 
 
 
 
 
OXFORD FINANCE LLC
 
 
 
 
 
 
By:   /s/ Colette H. Featherly   
 
 
Name: Colette H. Featherly
 
 
Title: Senior Vice President
 
 

[Signature Page to Fifth Amendment to Loan and Security Agreement]

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EXHIBIT C

Compliance Certificate
TO:
OXFORD FINANCE LLC, as Collateral Agent and Lender
FROM:
CONFORMIS, INC., for itself, and on behalf of all Borrowers

The undersigned authorized officer (“Officer”) of CONFORMIS, INC. (“Borrower”),
hereby certifies, on behalf of all Borrowers, that in accordance with the terms
and conditions of the Loan and Security Agreement by and among Borrower,
Collateral Agent, and the Lenders from time to time party thereto (the “Loan
Agreement;” capitalized terms used but not otherwise defined herein shall have
the meanings given them in the Loan Agreement),
(a)    Borrower is in complete compliance for the period ending _______________
with all required covenants except as noted below;
(b)    There are no Events of Default, except as noted below;
(c)    Except as noted below, all representations and warranties of Borrower
stated in the Loan Documents are true and correct in all material respects on
this date and for the period described in (a), above; provided, however, that
such materiality qualifier shall not be applicable to any representations and
warranties that already are qualified or modified by materiality in the text
thereof; and provided, further that those representations and warranties
expressly referring to a specific date shall be true, accurate and complete in
all material respects as of such date.
(d)    Borrower, and each of Borrower’s Subsidiaries, has timely filed all
required tax returns and reports, Borrower, and each of Borrower’s Subsidiaries,
has timely paid all foreign, federal, state, and material local taxes,
assessments, deposits and contributions owed by Borrower, or Subsidiary, except
as otherwise permitted pursuant to the terms of Section 5.9 of the Loan
Agreement;
(e)    No Liens have been levied or claims made against Borrower or any of its
Subsidiaries relating to unpaid employee payroll or benefits of which Borrower
has not previously provided written notification to Collateral Agent and the
Lenders.
Attached are the required documents, if any, supporting our certification(s).
The Officer, on behalf of Borrower, further certifies that the attached
financial statements are prepared in accordance with Generally Accepted
Accounting Principles (GAAP) and are consistently applied from one period to the
next except as explained in an accompanying letter or footnotes and except, in
the case of unaudited financial statements, for the absence of footnotes and
subject to year‑end audit adjustments as to the interim financial statements.
Please indicate compliance status since the last Compliance Certificate by
circling Yes, No, or N/A under “Complies” column.

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Reporting Covenant
Requirement
Actual
Complies
1)
Financial statements
Quarterly within 45 days
 
Yes
No
N/A
2)
Annual (CPA Audited) statements
Within 120 days after FYE
 
Yes
No
N/A
3)
Annual Financial Projections/Budget (prepared on a monthly basis)
Annually (no later than 3/31 of each calendar year (with any material changes
within 10 days of Board approval)), and when revised
 
Yes
No
N/A
4)
Monthly Revenue report
Monthly within 30 days
 
Yes
Non
N/A
5)
8‑K, 10‑K and 10‑Q Filings
If applicable, within 5 days of filing
 
Yes
No
N/A
6)
Compliance Certificate
Quarterly within 45 days
 
Yes
No
N/A
7)
IP Report of any new copyrights, trademarks and patents
To accompany Compliance Certificate
 
Yes
No
N/A
8)
Total amount of Borrower’s cash and cash equivalents at the last day of the
measurement period
 
$________
Yes
No
N/A
9)
Total amount of Borrower’s Subsidiaries’ cash and cash equivalents at the last
day of the measurement period
 
$________
Yes
No
N/A

Deposit and Securities Accounts
(Please list all accounts; attach separate sheet if additional space needed)

 
Institution Name
Account Number
New Account?
Account Control Agreement in place?
1)
 
 
Yes
No
Yes
No
2)
 
 
Yes
No
Yes
No
3)
 
 
Yes
No
Yes
No
4)
 
 
Yes
No
Yes
No

Financial Covenants

 
Covenant
Requirement
Actual
Compliance
1)
Minimum Product Revenue
(trailing six months)
See Section 6.8(a)

   $   
Yes
No
2)
Minimum cash
$5,000,000.00 in Deposit Accounts subject to Control Agreements
   $   
Yes
No
 
 
 
 
 
 

Other Matters

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1)
Have there been any changes in a Key Person since the last Compliance
Certificate?
Yes
No
 
 
 
 
2)
Have there been any transfers/sales/disposals/retirement of Collateral or IP
prohibited by the Loan Agreement?
Yes
No
 
 
 
 
3)
Have there been any new pending or, to the knowledge of the Responsible
Officer’s, threatened in writing, or has Borrower received notice of any new
governmental investigations pending or threatened, by or against Borrower or any
of its Subsidiaries, involving more than Five Hundred Thousand Dollars
($500,000.00)?
Yes
No
 
 
 
 
4)
Have there been any amendments or other changes to the Operating Documents of
Borrower or any of its Subsidiaries? If yes, provide copies of any such
amendments or changes with this Compliance Certificate if requested by
Collateral Agent or any Lender.
Yes
No

Exceptions

Please explain any exceptions with respect to the certification above: (If no
exceptions exist, state “No exceptions.” Attach separate sheet if additional
space needed.)

CONFORMIS, INC., on behalf of itself and all Borrowers

By:                  
Name:                  
Title:                  

Date:

LENDER USE ONLY
 
 
Received by:             
Date:        
 
 
Verified by:              
Date:        
 
 
Compliance Status: Yes No

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CORPORATE BORROWING CERTIFICATE
BORROWER:
CONFORMIS, INC.
DATE: December 13, 2018
Lender:
OXFORD FINANCE LLC, as Collateral Agent and Lender
 

I hereby certify as follows, as of the date set forth above:
1.    I am the Secretary, Assistant Secretary or other officer of Borrower. My
title is as set forth below.
2.    Borrower’s exact legal name is set forth above. Borrower is a corporation
existing under the laws of the State of Delaware.
3.    Attached hereto as Exhibit A and Exhibit B, respectively, are true,
correct and complete copies of (i) Borrower’s Certificate of Incorporation
(including amendments), as filed with the Secretary of State of the state in
which Borrower is incorporated as set forth in paragraph 2 above; and
(ii) Borrower’s Bylaws. Neither such Certificate of Incorporation nor such
Bylaws have been amended, annulled, rescinded, revoked or supplemented, and such
Certificate of Incorporation and such Bylaws remain in full force and effect as
of the date hereof.
4.    The resolutions attached hereto as Exhibit C were duly and validly adopted
by Borrower’s Board of Directors at a duly held meeting of such directors (or
pursuant to a unanimous written consent or other authorized corporate action).
Such resolutions are in full force and effect as of the date hereof and have not
been in any way modified, repealed, rescinded, amended or revoked, have been
filed in minutes of the proceedings of the Board of Directors, and the Lenders
may rely on them until each Lender receives written notice of revocation from
Borrower.

[Balance of Page Intentionally Left Blank]

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RESOLVED, that any one of the following officers or employees of Borrower, whose
names, titles and signatures are below, may act on behalf of Borrower:
Name
Title
Signature
Authorized to Add or Remove Signatories
Mark Augusti
Chief Executive Officer and President
____________________________
□

Paul Weiner
Chief Financial Officer
____________________________
 

Patricia A. Davis

Chief Legal Officer, General Counsel and Corporate Secretary
____________________________
□
 
 
 
□

[Balance of Page Intentionally Left Blank]

[Signature Page to Corporate Borrowing Certificate – Conformis]
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5.    The persons listed above are Borrower’s officers or employees with their
titles and signatures shown next to their names.
 
 
By:   
 
 
Name: Patricia A. Davis
 
 
Title: Chief Legal Officer, General Counsel and Corporate Secretary

*** If the Secretary, Assistant Secretary or other certifying officer executing
above is designated by the resolutions set forth in paragraph 4 as one of the
authorized signing officers, this Certificate must also be signed by a second
authorized officer or director of Borrower.
I, the Chief Financial Officer of Borrower, hereby certify as to paragraphs 1
through 5 above, as of the date set forth above.

 
 
By:   
 
 
Name: Paul Weiner
 
 
Title: Chief Financial Officer

[Signature Page to Corporate Borrowing Certificate – Conformis]
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EXHIBIT A

Certificate of Incorporation (including amendments)
[see attached]

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EXHIBIT B

Bylaws
[see attached]

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EXHIBIT C

Resolutions
[see attached]

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CORPORATE BORROWING CERTIFICATE
BORROWER:
IMATX, INC.
DATE: December 13, 2018
Lender:
OXFORD FINANCE LLC, as Collateral Agent and Lender
 

I hereby certify as follows, as of the date set forth above:
1.    I am the Secretary, Assistant Secretary or other officer of Borrower. My
title is as set forth below.
2.    Borrower’s exact legal name is set forth above. Borrower is a corporation
existing under the laws of the State of California.
3.    Attached hereto as Exhibit A and Exhibit B, respectively, are true,
correct and complete copies of (i) Borrower’s Certificate of Incorporation
(including amendments), as filed with the Secretary of State of the state in
which Borrower is incorporated as set forth in paragraph 2 above; and
(ii) Borrower’s Bylaws. Neither such Certificate of Incorporation nor such
Bylaws have been amended, annulled, rescinded, revoked or supplemented, and such
Certificate of Incorporation and such Bylaws remain in full force and effect as
of the date hereof.
4.    The resolutions attached hereto as Exhibit C were duly and validly adopted
by Borrower’s Board of Directors at a duly held meeting of such directors (or
pursuant to a unanimous written consent or other authorized corporate action).
Such resolutions are in full force and effect as of the date hereof and have not
been in any way modified, repealed, rescinded, amended or revoked, have been
filed in minutes of the proceedings of the Board of Directors, and the Lenders
may rely on them until each Lender receives written notice of revocation from
Borrower.

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RESOLVED, that any one of the following officers or employees of Borrower, whose
names, titles and signatures are below, may act on behalf of Borrower:
Name
Title
Signature
Authorized to Add or Remove Signatories
Mark Augusti
Chief Executive Officer and President
____________________________
□
 
 
 
 
Paul Weiner
Chief Financial Officer
____________________________
□
 
 
 
 
Patricia A. Davis
Corporate Secretary
____________________________
□

[Balance of Page Intentionally Left Blank]

[Signature Page to Corporate Borrowing Certificate – ImaTx]
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5.    The persons listed above are Borrower’s officers or employees with their
titles and signatures shown next to their names.
 
 
By: ______________________________________  
 
 
Name: Mark Augusti
 
 
Title: President and Chief Executive Officer

*** If the Secretary, Assistant Secretary or other certifying officer executing
above is designated by the resolutions set forth in paragraph 4 as one of the
authorized signing officers, this Certificate must also be signed by a second
authorized officer or director of Borrower.
I, the Chief Financial Officer of Borrower, hereby certify as to paragraphs 1
through 5 above, as of the date set forth above.

 
 
By:   ______________________________________
 
 
Name: Paul Weiner
 
 
Title: Chief Financial Officer

[Signature Page to Corporate Borrowing Certificate - ImaTx]
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EXHIBIT A

Certificate of Incorporation (including amendments)
[see attached]

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EXHIBIT B

Bylaws
[see attached]

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EXHIBIT C

Resolutions
[see attached]

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CORPORATE BORROWING CERTIFICATE
BORROWER:
CONFORMIS CARES LLC
DATE: December 13, 2018
Lender:
OXFORD FINANCE LLC, as Collateral Agent and Lender
 

I hereby certify as follows, as of the date set forth above:
1.    I am the Secretary, Assistant Secretary or other officer of Borrower. My
title is as set forth below.
2.    Borrower’s exact legal name is set forth above. Borrower is a limited
liability company existing under the laws of the State of Delaware.
3.    Attached hereto as Exhibit A and Exhibit B, respectively, are true,
correct and complete copies of (i) Borrower’s Certificate of Formation
(including amendments), as filed with the Secretary of State of the state in
which Borrower is incorporated as set forth in paragraph 2 above; and
(ii) Borrower’s operating agreement. Neither such Certificate of Formation nor
such operating agreement have been amended, annulled, rescinded, revoked or
supplemented, and such Certificate of Formation and such operating agreement
remain in full force and effect as of the date hereof.
4.    The resolutions attached hereto as Exhibit C were duly and validly adopted
by Borrower’s Board of Managers at a duly held meeting of such directors (or
pursuant to a unanimous written consent or other authorized company action).
Such resolutions are in full force and effect as of the date hereof and have not
been in any way modified, repealed, rescinded, amended or revoked, have been
filed in minutes of the proceedings of the Board of Managers, and the Lenders
may rely on them until each Lender receives written notice of revocation from
Borrower.

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RESOLVED, that any one of the following officers or employees of Borrower, whose
names, titles and signatures are below, may act on behalf of Borrower:
Name
Title
Signature
Authorized to Add or Remove Signatories
Mark Augusti
Chief Executive Officer and President
____________________________
□
Paul Weiner
Chief Financial Officer
____________________________
□
Patricia A. Davis
Secretary
____________________________
□
 
 
 
 
 
 
 
 

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[Signature Page to Corporate Borrowing Certificate – Conformis Cares LLC]
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5.    The persons listed above are Borrower’s officers or employees with their
titles and signatures shown next to their names.
 
 
By:   ______________________________________
 
 
Name: Patricia A. Davis
 
 
Title: Secretary

*** If the Secretary, Assistant Secretary or other certifying officer executing
above is designated by the resolutions set forth in paragraph 4 as one of the
authorized signing officers, this Certificate must also be signed by a second
authorized officer or director of Borrower.
I, the Chief Financial Officer of Borrower, hereby certify as to paragraphs 1
through 5 above, as of the date set forth above.

 
 
By:   ______________________________________
 
 
Name: Paul Weiner
 
 
Title: Chief Financial Officer

[Signature Page to Corporate Borrowing Certificate – Conformis Cares LLC]
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EXHIBIT A

Certificate of Formation (including amendments)
[see attached]

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EXHIBIT B

Operating Agreement
[see attached]

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EXHIBIT C

Resolutions
[see attached]

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