Exhibit 10.1


 


AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT


 


THIS AMENDED AND RESTATED REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of [●], 2023, is made and entered into by and among (i) TriSalus
Life Sciences Inc., a Delaware corporation (the “Company”) (formerly known as MedTech Acquisition Corp. (“MedTech”),
a Delaware corporation), (ii) MedTech Acquisition Sponsor LLC, a Delaware limited liability company (the “Sponsor”)
and (iii) certain former stockholders of TriSalus Operating Company, a Delaware corporation (formerly known as TriSalus Life Sciences, Inc.
(“Legacy TriSalus”)) set forth on Schedule I hereto (the “TriSalus Holders” and, together
with the Sponsor and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2 or Section 5.10
of this Agreement, a “Holder” and collectively the “Holders”).


 


RECITALS


 


WHEREAS, the Company and Legacy TriSalus
were party to that certain Agreement and Plan of Merger, dated as of November 11, 2022 (the “Merger Agreement”),
by and among the Company, MTAC Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of the Company (“Merger
Sub”), and Legacy TriSalus;


 


WHEREAS, pursuant to the Merger Agreement,
at the Closing (as defined in the Merger Agreement), Merger Sub will merge with and into Legacy TriSalus, with Legacy TriSalus continuing
as the surviving company and, after giving effect to the merger, the separate existence of Merger Sub will cease to exist and Legacy TriSalus
shall become a wholly owned subsidiary of the Company, which shall survive as the surviving corporation (the “Business Combination”);


 


WHEREAS, MedTech, the Sponsor and certain
of the Holders entered into that certain Registration Rights Agreement, dated as of December 17, 2020 (as it may be amended, supplemented,
restated or otherwise modified from time to time until the consummation of the Business Combination, the “Existing Agreement”);


 


WHEREAS, upon the consummation of the Business
Combination, the parties to the Existing Agreement desire to amend and restate the Existing Agreement in its entirety as set forth herein
and the Company, the Sponsor and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders
certain registration rights with respect to the Registrable Securities (as defined below) on the terms and conditions set forth in this
Agreement.


 


NOW, THEREFORE, in consideration
of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:


 


ARTICLE I


DEFINITIONS


 


1.1 Definitions. The terms defined in this
Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:


 


“Adverse Disclosure”
shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the chief executive
officer or chief financial officer of the Company, after consultation with counsel to the Company, (i) would be required to be made
in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of any prospectus
and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading, (ii) would not be required
to be made at such time if the Registration Statement were not being filed or was effective, and (iii) the Company has a bona
fide business purpose for not making such information public.


 


“Agreement” shall have
the meaning given in the Preamble.


 






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“Action” means any claim,
charge, action, suit, complaint, grievance, audit, investigation, inquiry, assessment, arbitration or legal, judicial or administrative
proceeding (whether at law or in equity).


 


“Block Trade” has the
meaning given in subsection 2.6.1.


 


“Board” shall mean the
board of directors of the Company.


 


“Business Combination”
shall have the meaning given in the Recitals hereto.


 


“Business Day” shall
mean any day other than a Saturday, a Sunday or other day on which commercial banks in New York, New York are authorized or required by
applicable law to close.


 


“Closing” shall have
the meaning given in the Merger Agreement.


 


“Commission” shall mean
the U.S. Securities and Exchange Commission.


 


“Common Stock” shall
mean the Company’s Common Stock, with a par value of $0.0001 per share.


 


“Company” shall have
the meaning given in the Recitals hereto.


 


“Demand Registration”
shall have the meaning given in subsection 2.1.1.


 


“Demanding Holder” shall
mean either (i) any Holder or Holders who, in the aggregate, hold at least a majority of the Registrable Securities issued to the
Sponsor or (ii) one or more TriSalus Holders holding at least a majority-in-interest of Registrable Securities held by TriSalus Holders.


 


“Exchange Act” shall
mean the Securities Exchange Act of 1934, as it may be amended from time to time.


 


“Existing Agreement” shall have
the meaning given in the Recitals hereto.


 


“Form S-1” shall have the
meaning given in subsection 2.1.1.


 


“Form S-3” shall
have the meaning given in subsection 2.3.2.


 


“Form S-1 Shelf”
shall have the meaning given in subsection 2.3.1.


 


“Form S-3 Shelf”
shall have the meaning given in subsection 2.3.1.


 


“Founder Shares” shall
mean the 4,062,500 shares of MedTech’s Class B common stock, par value $0.0001 per share, issued to the Sponsor in a private
placement pursuant to the Subscription Agreement that are not forfeited at Closing and not subsequently forfeited by the Sponsor as described
in the Sponsor Support Agreement.


 


“Holder Information”
shall have the meaning given in subsection 4.1.2.


 


“Holders” shall have
the meaning given in the Preamble.


 


“Lock-up” shall have
the meaning given in Section 2.5.


 


“Lock-up Period” shall
mean any lock-up period with respect to the Registrable Securities included in the Company’s governing documents or any agreements
between a Holder and the Company or any of the Company’s subsidiaries.


 


“Maximum Number of Securities”
shall have the meaning given in subsection 2.1.4.


 


“Merger Agreement” shall
have the meaning given in the Recitals hereto.


 






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“Minimum Takedown Threshold”
has the meaning set forth in subsection 2.3.4.


 


“Misstatement” shall
mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus (in the light of the circumstances under
which they were made) not misleading.


 


“Opt-Out Requests” has
the meaning set forth in Section 5.12.


 


“Other Coordinated Offering”
has the meaning set forth in subsection 2.6.1.


 


“Other Holders” has
the meaning set forth in subsection 2.2.1.


 


“Permitted Transferees”
means, in the case of any Holder, a person to whom, or entity to which, a Holder may transfer Registrable Securities; provided
that (a) such transfer does not violate the Company’s governing documents, or any agreements between such Holder and the Company
or any of the Company’s subsidiaries, or this Agreement, and (b) such transferee shall only be a Permitted Transferee if and
to the extent the transferor designates the transferee as a Permitted Transferee entitled to rights hereunder pursuant to subsection
5.2.3.


 


“Piggyback Registration”
shall have the meaning given in subsection 2.2.1.


 


“Prospectus” shall mean
the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended by any and
all post-effective amendments and including all material incorporated by reference in such prospectus.


 


“Qualified Additional Holder”
shall mean any stockholder of the Company that is a director or officer of the Company or any other stockholder of the Company that is
approved to become a “Holder” under this Agreement by the Holders holding a majority of Registrable Securities then outstanding
(such approval not to be unreasonably withheld, conditioned or delayed).


 


“Registrable Security”
shall mean (i) any outstanding shares of Common Stock or any warrants to purchase shares of Common Stock and (ii) shares of
Common Stock issued or issuable upon the exercise or conversion of any warrants or equity awards of the Company, in each case held by
a Holder immediately following the Closing (including any warrants or equity awards distributable pursuant to the Merger Agreement, any
Founder Shares, any warrants issued or issuable in connection with MedTech’s initial public offering or concurrent private placement
and any Working Capital Warrants) and (iii) any other equity security of the Company issued or issuable with respect to any such
securities by way of a stock dividend, share capitalization or share sub-division or in connection with a reclassification, recapitalization,
merger, consolidation, spin-off, reorganization or similar transaction; provided, however, that, as to any particular Registrable
Security, such securities shall cease to be Registrable Securities when: (a) a Registration Statement with respect to the sale of
such securities shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of
or exchanged in accordance with such Registration Statement; (b) such securities shall have been otherwise transferred, new certificates
or book entry provisions for such securities not bearing a legend restricting further transfer shall have been delivered by the Company
and subsequent public distribution of such securities shall not require registration under the Securities Act; (c) such securities
shall have ceased to be outstanding; (d) such securities may be sold without registration pursuant to Rule 144 promulgated under
the Securities Act (or any successor rule promulgated thereafter by the Commission) without limitation as to volume and manner of
sale or public information requirements; or (e) such securities have been sold to, or through, a broker, dealer or underwriter in
a public distribution or other public securities transaction.


 


“Registration” shall
mean a registration, including an Underwritten Shelf Takedown, effected by preparing and filing a Registration Statement or similar document
in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such
Registration Statement becoming effective.


 






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“Registration Expenses”
shall mean the out-of-pocket expenses of a Registration, including the following:


 


(A) all registration and filing fees (including
fees with respect to filings required to be made with the Financial Industry Regulatory Authority, Inc.) and any securities exchange
on which the Common Stock is then listed;


 


(B) fees and expenses of compliance with securities
or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters in connection with blue sky qualifications
of Registrable Securities);


 


(C) reasonable printing, messenger, telephone
and delivery expenses;


 


(D) reasonable fees and disbursements of counsel
for the Company;


 


(E) reasonable fees and disbursements of all
independent registered public accountants of the Company incurred specifically in connection with such Registration;


 


(F) the costs and expenses of the Company relating
to analyst and investor presentations or any “road show” undertaken in connection with the Registration and/or marketing of
the Registrable Securities; and


 


(G) reasonable fees and expenses up to $35,000
of one (1) legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand Registration to be registered
for offer and sale in the applicable Registration or majority-in-interest of the Takedown Demanding Holders initiating an Underwritten
Shelf Takedown.


 


“Registration Statement”
shall mean any registration statement that covers the Registrable Securities pursuant to the provisions of this Agreement, including the
Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration
statement, and all exhibits to and all material incorporated by reference in such registration statement.


 


“Requesting Holder”
shall have the meaning given in subsection 2.1.1.


 


“Securities Act” shall
mean the Securities Act of 1933, as amended from time to time.


 


“Shelf” shall mean the
Form S-1 Shelf, the Form S-3 Shelf or any Subsequent Shelf Registration Statement, as the case may be.


 


“Shelf Registration”
shall mean a Registration of Registrable Securities pursuant to a registration statement filed with the Commission in accordance with
and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect).


 


“Sponsor” shall have
the meaning given in the Preamble hereto.


 


“Sponsor Support Agreement”
shall mean that certain Sponsor Support Agreement, dated as of November 11, 2022, by and among the Sponsor, MedTech and the Company.


 


“Subscription Agreement”
shall mean that certain Securities Subscription Agreement, dated as of September 11, 2020, between the Sponsor and MedTech.


 


“Subsequent Shelf Registration Statement”
shall have the meaning given in subsection 2.3.3.


 


“Takedown Demanding Holder”
shall have the meaning given in subsection 2.3.4.


 


“Takedown Requesting Holder”
shall have the meaning given in subsection 2.3.4.


 






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“Underwriter” shall
mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such dealer’s
market-making activities.


 


“Underwritten Registration”
or “Underwritten Offering” shall mean a Registration in which securities of the Company are sold to an Underwriter
in a firm commitment underwriting for distribution to the public.


 


“Underwritten Shelf Takedown”
shall have the meaning given in subsection 2.3.4.


 


“Working Capital Warrants”
shall mean warrants to purchase Common Stock issuable upon the conversion of loans made to the Company by the Sponsor, an affiliate of
the Sponsor, or an officer or director of the Company.


 


1.2 Interpretive Provisions. For all purposes
of this Agreement, except as otherwise provided in this Agreement or unless the context otherwise requires:


 


1.2.1 the singular shall include the plural, and
the plural shall include the singular, unless the context clearly prohibits that construction.


 


1.2.2 the words “hereof,” “herein,”
 “hereunder” and words of similar import, when used in this Agreement, refer to this Agreement as a whole and not to any particular
provision of this Agreement.


 


1.2.3 references in this Agreement to any law
shall be deemed also to refer to such law, and all rules and regulations promulgated thereunder.


 


1.2.4 whenever the words “include,”
 “includes” or “including” are used in this Agreement, they shall mean “without limitation.”


 


1.2.5 the captions and headings of this Agreement
are for convenience of reference only and shall not affect the interpretation of this Agreement.


 


1.2.6 pronouns of any gender or neuter shall include,
as appropriate, the other pronoun forms.


 


1.2.7 the word “or” shall be construed
to mean “and/or” and the words “neither,” “nor,” “any,” “either” and “or”
shall not be exclusive, unless the context clearly prohibits that construction.


 


ARTICLE II


REGISTRATIONS


 


2.1 Demand Registration.


 


2.1.1 Request for Registration. Subject
to the provisions of subsections 2.1.4 and 2.3.1 and Section 2.4 hereof, at any time and from time to time on
or after the date the Company consummates the Business Combination, any Demanding Holder may make a written demand for Registration of
all or part of their Registrable Securities, which written demand shall describe the amount and type of securities to be included in such
Registration and the intended method(s) of distribution thereof separate from a Shelf Registration or Underwritten Shelf Takedown
(such written demand a “Demand Registration”). The Company shall, within five (5) Business Days of the
Company’s receipt of the Demand Registration, notify, in writing, all other Holders of Registrable Securities of such demand, and
each Holder of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities
in a Registration pursuant to a Demand Registration (each such Holder that includes all or a portion of such Holder’s Registrable
Securities in such Registration, a “Requesting Holder”) shall so notify the Company, in writing, within five
(5) days after the receipt by the Holder of the notice from the Company. Upon receipt by the Company of any such written notification
from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be entitled to have their Registrable Securities
included in a Registration pursuant to a Demand Registration and the Company shall use commercially reasonable efforts to file, as soon
thereafter as reasonably practicable, but not more than forty-five (45) days after the Company’s receipt of the Demand Registration,
a Registration Statement on Form S-1 or any similar long-form registration statement that may be available at such time (“Form S-1”)
for the Registration of all Registrable Securities requested by the Demanding Holders and Requesting Holders pursuant to such Demand Registration,
and use commercially reasonable efforts to cause such Form S-1 to be declared effective as soon as reasonably practicable after its
initial filing. Under no circumstances shall the Company be obligated to effect more than an aggregate of one (1) Registration per
Demanding Holder pursuant to a Demand Registration under this subsection 2.1.1 with respect to any or all Registrable Securities.
Notwithstanding anything to the contrary herein, to the extent there is an active Form S-3 Shelf covering a Holder’s or Holders’
Registrable Securities, this subsection 2.1.1 shall be inapplicable and any request by such Holder or Holders to conduct an Underwritten
Offering shall follow the procedures of subsection 2.3.4 herein and shall be counted as an Underwritten Shelf Takedown.


 






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2.1.2 Effective Registration. Notwithstanding
the provisions of subsection 2.1.1 above or any other part of this Agreement, a Registration pursuant to a Demand Registration
shall not count as a Registration unless and until (i) the Registration Statement filed with the Commission with respect to a Registration
pursuant to a Demand Registration has been declared effective by the Commission and (ii) the Company has complied with all of its
obligations under this Agreement with respect thereto; provided, further, that if, after such Registration Statement has
been declared effective, an offering of Registrable Securities in a Registration pursuant to a Demand Registration is subsequently interfered
with by any stop order or injunction of the Commission, federal or state court or any other governmental agency, then the Registration
Statement with respect to such Registration shall be deemed not to have been declared effective, unless and until, (i) such stop
order or injunction is removed, rescinded or otherwise terminated, and (ii) a majority-in-interest of the Demanding Holders initiating
such Demand Registration thereafter affirmatively elect to continue with such Registration and accordingly notify the Company in writing,
but in no event later than five (5) days after the removal, recission or other termination of such stop order or injunction, of such
election; and provided, further, that the Company shall not be obligated or required to file another Registration Statement
until the Registration Statement that has been previously filed with respect to a Registration pursuant to a Demand Registration becomes
effective or is subsequently terminated.


 


2.1.3 Underwritten Offering. Subject to
the provisions of subsections 2.1.4 and 2.3.1 and Section 2.4 hereof, at any time and from time to time on or
after the date the Company consummates the Business Combination, if a majority in interest of the Demanding Holders so advise the Company
as part of their Demand Registration that the offering of the Registrable Securities pursuant to such Demand Registration shall be in
the form of an Underwritten Offering, then the right of such Demanding Holders and Requesting Holder (if any) to include its Registrable
Securities in such Registration shall be conditioned upon such Holder’s participation in such Underwritten Offering and the inclusion
of such Holder’s Registrable Securities in such Underwritten Offering to the extent provided herein. All such Holders proposing
to distribute their Registrable Securities through an Underwritten Offering under this subsection 2.1.3 shall enter into an underwriting
agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the majority in interest of the Demanding
Holders initiating the Demand Registration and shall execute a customary lock-up agreement in favor of the Underwriters (in each case
on substantially the same terms and conditions as all such Holders participating in such Underwritten Offering).


 


2.1.4 Reduction of Underwritten Offering.
If the managing Underwriter or Underwriters in an Underwritten Registration pursuant to a Demand Registration, in good faith, advises
the Company, the Demanding Holders and the Requesting Holders (if any) in writing that the dollar amount or number of Registrable Securities
that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other Common Stock or other equity
securities that the Company desires to sell and the Common Stock, if any, as to which a Registration has been requested pursuant to separate
written contractual piggy-back registration rights held by any other stockholders who desire to sell, exceeds the maximum dollar amount
or maximum number of equity securities that can be sold in the Underwritten Offering without adversely affecting the proposed offering
price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number
of such securities, as applicable, the “Maximum Number of Securities”), then the Company shall include in such
Underwritten Offering, as follows: (i) first, the Registrable Securities of the Demanding Holders and the Requesting Holders (if
any) (pro rata based on the respective number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) has
requested be included in such Underwritten Registration and the aggregate number of Registrable Securities that the Demanding Holders
and Requesting Holders have requested be included in such Underwritten Registration) that can be sold without exceeding the Maximum Number
of Securities; (ii) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i),
the Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of
Securities; and (iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(i) and (ii), the Registrable Securities of Holders (pro rata, based on the respective number of Registrable Securities that each
Holder has requested be included in such Underwritten Registration) exercising their rights to register their Registrable Securities pursuant
to subsection 2.2.1 hereof; and (iv) fourth, to the extent that the Maximum Number of Securities has not been reached under
the foregoing clauses (i), (ii) and (iii), the Common Stock or other equity securities of other persons or entities that the Company
is obligated to register in a Registration pursuant to separate written contractual arrangements with such persons and that can be sold
without exceeding the Maximum Number of Securities.


 






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2.1.5 Demand Registration Withdrawal. A
Demanding Holder shall have the right to withdraw all or any portion of its Registrable Securities included in a Demand Registration pursuant
to subsection 2.1.1 for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters
(if any) of their intention to withdraw from such Registration prior to the effectiveness of the Registration Statement filed with the
Commission pursuant to such Demand Registration; provided, however, that such withdrawn amount shall still be considered
a Demand Registration pursuant to subsection 2.1.1. Notwithstanding anything to the contrary in this Agreement, the Company shall
be responsible for the Registration Expenses incurred in connection with a Registration pursuant to a Demand Registration prior to its
withdrawal under this subsection 2.1.5.


 


2.2 Piggyback Registration.


 


2.2.1 Piggyback Rights. If, at any time
on or after the date the Company consummates the Business Combination, the Company proposes to file a Registration Statement on Form S-3
under the Securities Act with respect to an offering of equity securities of the Company, or securities or other obligations exercisable
or exchangeable for, or convertible into equity securities of the Company, for its own account or for the account of stockholders of the
Company (or by the Company and by the stockholders of the Company including pursuant to Section 2.1 or subsection 2.3.4
hereof), other than a Registration Statement (or any registered offering with respect thereto) (i) filed in connection with
any employee share option or other benefit plan on Form S-8 (or other successor registration statement form thereof), (ii) pursuant
to a Registration Statement on Form S-4 (or other successor registration statement form thereof or similar form that relates to a
transaction subject to Rule 145 under the Securities Act or any successor rule thereto), (iii) for an offering of debt
that is convertible into equity securities of the Company, (iv) for an exchange offer or offering of securities solely to the Company’s
existing stockholders, (v) for a dividend reinvestment plan, (vi) for a rights offering, (vii) for the exercise of any
warrants, (viii) for a Block Trade, (ix) for an equity line of credit, or (x) for an at-the-market offering of securities,
then the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities and the holders of
other equity securities that the Company is obligated to register in a Registration (collectively, the “Other Holders”)
pursuant to separate written contractual piggy-back registration rights, as soon as reasonably practicable but not less than five (5) Business
Days before the anticipated filing date of such Registration Statement, or, in the case of an Underwritten Offering pursuant to a Shelf
Registration, the anticipated filing of the applicable “red herring” prospectus or prospectus supplement, which notice shall
(A) describe the amount and type of securities to be included in such offering, the intended method(s) of distribution, and
the name of the proposed managing Underwriter or Underwriters, if any and if known, in such offering, and (B) offer to all of the
Holders of Registrable Securities the opportunity to include in such registered offering such number of Registrable Securities as such
Holders may request in writing within five (5) days after receipt of such written notice (such Registration a “Piggyback
Registration”); provided, that each such Holder agrees that the fact that such a notice has been delivered shall
constitute material non-public confidential information. Subject to subsection 2.2.2, the Company shall, in good faith, cause such
Registrable Securities and the securities of any Other Holders, to be included in such Piggyback Registration and shall use commercially
reasonable efforts to cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities
requested by the Holders or Other Holders, as applicable, pursuant to this subsection 2.2.1 to be included in a Piggyback Registration
on the same terms and conditions as any similar securities of the Company included in such Registration and to permit the sale or other
disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. All such Holders proposing
to distribute their Registrable Securities through an Underwritten Offering under this subsection 2.2.1 shall enter into an underwriting
agreement in customary form with the Underwriter or Underwriters selected for such Underwritten Offering by the Company and shall execute
a customary lock-up agreement in favor of the Underwriter or Underwriters (in each case on substantially the same terms and conditions
as all such Holders participating in such Underwritten Offering).


 






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2.2.2 Reduction of Piggyback Registration.
If the managing Underwriter or Underwriters in an Underwritten Registration that is to be a Piggyback Registration, in good faith, advises
the Company and the Holders of Registrable Securities participating in the Piggyback Registration in writing that the dollar amount or
number of the shares of Common Stock or other equity securities that the Company desires to sell, taken together with (i) the shares
of Common Stock, if any, as to which Registration has been demanded pursuant to separate written contractual arrangements with any Other
Holders, (ii) the Registrable Securities as to which Registration has been requested pursuant to Section 2.2 hereof,
and (iii) the shares of Common Stock, if any, as to which Registration has been requested pursuant to separate written contractual
piggy-back registration rights of Other Holders, exceeds the Maximum Number of Securities, then:


 


(a) If the Registration is initiated and undertaken
for the Company’s account, the Company shall include in any such Registration (i) first, the Common Stock or other equity securities
that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities and; (ii) second, to the extent
that the Maximum Number of Securities has not been reached under the foregoing clause (i), the Registrable Securities of Holders exercising
their rights to register their Registrable Securities pursuant to subsection 2.2.1 hereof and the Common Stock, if any, as to which
Registration has been requested by any Other Holders pursuant to separate written contractual piggy-back registration rights (pro rata
based on the respective number of Registrable Securities or shares of Common Stock that such Holder or Other Holder, as applicable, has
requested be included in such Piggyback Registration relative to the total number of Registrable Securities and shares of Common Stock
that all Holders and Other Holders have requested be included in such Piggyback Registration), which can be sold without exceeding the
Maximum Number of Securities;


 


(b) If the Registration is not initiated and
undertaken for the Company’s account and is pursuant to a request by persons or entities other than the Holders of Registrable Securities,
then the Company shall include in any such Registration (i) first, the Common Stock or other equity securities, if any, of such requesting
persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities;
(ii) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (a), the Registrable
Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection 2.2.1 hereof (pro
rata based on the respective number of Registrable Securities that such Holder has requested be included in such Piggyback Registration
relative to the total number of Registrable Securities that all Holders have requested be included in such Piggyback Registration), which
can be sold without exceeding the Maximum Number of Securities; (iii) third, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clauses (i) and (ii), the Common Stock or other equity securities that the Company desires
to sell, which can be sold without exceeding the Maximum Number of Securities; and (iv) fourth, to the extent that the Maximum Number
of Securities has not been reached under the foregoing clauses (i), (ii) and (iii), the Common Stock or other equity securities for
the account of any other persons or entities that the Company is obligated to register pursuant to separate written contractual arrangements
with such other person or entity (pro rata based on the shares of Common Stock that such other person or entity, as applicable, has requested
be included in such Piggyback Registration relative to the total number of shares of Common Stock that such other persons or entities
have requested be included in such Piggyback Registration), which can be sold without exceeding the Maximum Number of Securities.


 


2.2.3 Piggyback Registration Withdrawal.
Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any or no reason whatsoever upon
written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention to withdraw from such Piggyback
Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect to such Piggyback Registration
or, in the case of a Piggyback Registration pursuant to a Shelf Registration, the filing of the applicable “red herring” prospectus
or prospectus supplement with respect to such Piggyback Registration used for marketing such transaction. The Company (whether on its
own good faith determination or as the result of a request for withdrawal by persons pursuant to separate written contractual obligations)
may withdraw a Registration Statement filed with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness
of such Registration Statement. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration
Expenses incurred in connection with the Piggyback Registration prior to its withdrawal under this subsection 2.2.3.


 






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2.2.4 Unlimited Piggyback Registration Rights.
For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall not be counted as a Registration pursuant
to a Demand Registration effected under Section 2.1 hereof or Underwritten Shelf Takedown effected under subsection 2.3.4
hereof.


 


2.3 Shelf Registrations.


 


2.3.1 Initial Shelf Registration. The Company
shall file with the Commission within forty-five (45) days of the Closing, and use commercially reasonable efforts to cause to be declared
effective as soon as reasonably practicable thereafter, a Registration Statement for a Shelf Registration on Form S-1 (the “Form S-1
Shelf”) or, if the Company is eligible to use a Registration Statement on Form S-3, a Shelf Registration on Form S-3
(the “Form S-3 Shelf”), in each case, covering the resale of all the Registrable Securities (determined
as of two (2) Business Days prior to such filing) on a delayed or continuous basis. Such Shelf shall provide for the resale of the
Registrable Securities included therein pursuant to any method or combination of methods legally available to, and requested by, any Holder
named therein. The Company shall use its commercially reasonable efforts to maintain a Shelf in accordance with the terms of this Agreement,
and shall use its commercially reasonable efforts to prepare and file with the Commission such amendments, including post-effective amendments,
and supplements as may be necessary to keep a Shelf continuously effective, available for use and in compliance with the provisions of
the Securities Act until such time as there are no longer any Registrable Securities, subject to Section 3.4 hereof. In the event
the Company files a Form S-1 Shelf, the Company shall use its commercially reasonable efforts to convert the Form S-1 Shelf
(and any Subsequent Shelf Registration) to a Form S-3 Shelf as soon as practicable after the Company is eligible to use Form S-3,
or any similar short form registration. Notwithstanding anything to the contrary herein, to the extent there is an active Form S-3
Shelf under this subsection 2.3.1, covering a Holder’s or Holders’ Registrable Securities, and such Holder or Holders
qualify as Demanding Holders pursuant to subsection 2.1.1 and wish to request an Underwritten Offering, such Underwritten Offering
shall follow the procedures of subsection 2.3.4. The Company shall have the right to remove any persons no longer holding Registrable
Securities from the Shelf or any other shelf registration statement by means of a post-effective amendment.


 


2.3.2 Registrations on Form S-3. The
Holders of Registrable Securities may, at any time and from time to time on or after the expiration of the Lock-up Period applicable to
the Registrable Securities of a Holder, to the extent that its Registrable Securities are not covered by an effective Shelf, request in
writing that the Company, pursuant to Rule 415 under the Securities Act (or any successor rule promulgated thereafter by the
Commission), register the resale of any or all of their Registrable Securities on Form S-3 or any similar short form registration
statement that may be available at such time (“Form S-3”), or if the Company is a well-known seasoned issuer
(as defined in Rule 405 under the Securities Act) on an automatic shelf registration statement; provided, however,
that the Company shall not be obligated to effect such request through an Underwritten Offering. Within five (5) days of the Company’s
receipt of a written request from a Holder or Holders of Registrable Securities for a Registration on Form S-3, the Company shall
promptly give written notice of the proposed Registration on Form S-3 to all other Holders of Registrable Securities, and each Holder
of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in such Registration
on Form S-3 shall so notify the Company, in writing, within five (5) days after the receipt by the Holder of the notice from
the Company. As soon as reasonably practicable thereafter, but not more than fifteen (15) days after the Company’s initial
receipt of such written request for a Registration on Form S-3, the Company shall use commercially reasonable efforts to file a Form S-3
to register all or such portion of such Holder’s Registrable Securities as are specified in such written request, together with
all or such portion of Registrable Securities of any other Holder or Holders joining in such request as are specified in the written notification
given by such Holder or Holders, and shall use commercially reasonable efforts to cause such Form S-3 to be declared effective as
soon as reasonably practicable after its initial filing; provided, that, the Company shall be obligated to effect a Registration
pursuant to this subsection 2.3.2 hereof only if (i) Form S-3 is available for such Registration; and (ii) the Holders
of Registrable Securities, together with the Holders of any other equity securities of the Company entitled to inclusion in such Registration,
propose to sell Registrable Securities and such other equity securities (if any) with a total offering price to the public reasonably
expected to exceed, in the aggregate, $20 million.


 






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2.3.3 Subsequent Shelf Registration. If
any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable Securities included thereon are
still outstanding, the Company shall, subject to Section 3.4, use its commercially reasonable efforts to as promptly as is
reasonably practicable cause such Shelf to again become effective under the Securities Act (including obtaining the prompt withdrawal
of any order suspending the effectiveness of such Shelf), and shall use its commercially reasonable efforts to as promptly as is reasonably
practicable amend such Shelf in a manner reasonably expected to result in the withdrawal of any order suspending the effectiveness of
such Shelf or file an additional registration statement (a “Subsequent Shelf Registration”) registering the
resale of all Registrable Securities from time to time, and pursuant to any method or combination of methods legally available to, and
reasonably requested by, any Holder named therein. If a Subsequent Shelf Registration is filed, the Company shall use its commercially
reasonable efforts to (i) cause such Subsequent Shelf Registration to become effective under the Securities Act as promptly as is
reasonably practicable after the filing thereof and (ii) keep such Subsequent Shelf Registration continuously effective, available
for use to permit Holders named therein to sell their Registrable Securities included therein and in compliance with the provisions of
the Securities Act until such time as there are no longer any Registrable Securities included thereon. Any such Subsequent Shelf Registration
shall be on Form S-3, or any similar short form registration, to the extent that the Company is eligible to use such form. Without
limiting the foregoing provisions of this Section 2.3.3, in the event that any Holder holds Registrable Securities that are not registered
for resale on a delayed or continuous basis, the Company, upon request of a Holder shall promptly use its commercially reasonable efforts
to cause the resale of such Registrable Securities to be covered by either, at the Company’s option, a Shelf (including by means
of a post-effective amendment) or a Subsequent Shelf Registration and cause the same to be declared effective as soon as practicable after
such filing and such Shelf or Subsequent Shelf Registration shall be subject to the terms hereof; provided, however, the
Company shall only be required to cause such Registrable Securities to be so covered twice annually after inquiry of the Holders.


 


2.3.4 Underwritten Shelf Takedown. At any
time and from time to time after a Form S-3 Shelf has been declared effective by the Commission, any Demanding Holder (the “Takedown
Demanding Holders”) may request to sell all or any portion of its Registrable Securities in an underwritten offering that
is registered pursuant to the Form S-3 Shelf (each, an “Underwritten Shelf Takedown”); provided
that the Company shall only be obligated to effect an Underwritten Shelf Takedown if such offering shall include Registrable Securities
with a total offering price (including piggyback securities and before deduction of underwriting discounts) reasonably expected to exceed,
in the aggregate, $20 million (the “Minimum Takedown Threshold”). All requests for Underwritten Shelf Takedowns
shall be made by giving written notice to the Company at least five (5) Business Days prior to the public announcement of such Underwritten
Shelf Takedown, which shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown
and the expected price range (net of underwriting discounts and commissions) of such Underwritten Shelf Takedown. The Company shall include
in any Underwritten Shelf Takedown the securities requested to be included by any Holder (each a “Takedown Requesting Holder”)
at least two (2) Business Days prior to the public announcement of such Underwritten Shelf Takedown pursuant to the piggyback registration
rights of such Holder set forth in Section 2.2 herein. The Takedown Demanding Holders holding a majority-in-interest of the
Registrable Securities proposed to be sold in the underwritten offering shall have the right to select the underwriter(s) for such
offering, subject to the Company’s prior approval which shall not be unreasonably withheld, conditioned or delayed. The Demanding
Holders may demand an aggregate of not more than four (4) Underwritten Shelf Takedowns pursuant to this Agreement (of which the Sponsor
may demand not more than two (2)), and the Company is not obligated to effect (x) more than two (2) Underwritten Shelf Takedowns
per year (provided, that, the Sponsor may demand not more than one (1) Underwritten Shelf Takedowns per year) or (y) an Underwritten
Shelf Takedown within sixty (60) days after the closing of a prior Underwritten Shelf Takedown. The Company shall use its commercially
reasonable efforts to effect such Underwritten Shelf Takedowns, including the filing of any prospectus supplement or any post-effective
amendments and otherwise taking any action necessary to include therein all disclosure and language deemed necessary or advisable by the
Demanding Holder to effect such Underwritten Shelf Takedown. For purposes of clarity, any Registration effected pursuant to this subsection
2.3.4 shall not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof or Block
Trade or Other Coordinated Offering effected under Section 2.6 hereof.


 






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2.3.5 Reduction of Underwritten Shelf Takedown.
If the managing Underwriters in an Underwritten Shelf Takedown, in good faith, advises the Company, the Takedown Demanding Holders and
the Takedown Requesting Holders (if any) in writing that the dollar amount or number of Registrable Securities that the Takedown Demanding
Holders and the Takedown Requesting Holders (if any) desire to sell, taken together with all other Common Stock or other equity securities
that the Company desires to sell, exceeds the Maximum Number of Securities, then the Company shall include in such Underwritten Shelf
Takedown, as follows: (i) first, the Registrable Securities of the Takedown Demanding Holders that can be sold without exceeding
the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of Securities has not been reached under the
foregoing clause (i), the Common Stock or other equity securities of the Takedown Requesting Holders, if any, that can be sold without
exceeding the Maximum Number of Securities determined pro rata based on the respective number of shares of Common Stock or other equity
securities that each Takedown Requesting Holder has so requested to be included in such Underwritten Shelf Takedown; (iii) third,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the Common Stock
or other equity securities that the Company desires to sell and that can be sold without exceeding the Maximum Number of Securities, and
(iv) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i), (ii) and
(iii), the Common Stock or other equity securities of other persons or entities that the Company is obligated to register in a Registration
pursuant to separate written contractual arrangements with such persons and that can be sold without exceeding the Maximum Number of Securities.


 


2.3.6 Underwritten Shelf Takedown Withdrawal.
A Takedown Demanding Holder shall have the right to withdraw from an Underwritten Shelf Takedown for any or no reason whatsoever upon
written notification to the Company and the Underwriters (if any) of its intention to withdraw from such Underwritten Shelf Takedown prior
to the public announcement of such Underwritten Shelf Takedown; provided that if any Takedown Demanding Holder delivers a written
notification to the Company and the Underwriters (if any) of its intention to withdraw from such Underwritten Shelf Takedown, the Company
shall not be required to continue such Underwritten Shelf Takedown unless the Minimum Takedown Threshold would still be satisfied by the
Registrable Securities proposed to be sold. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible
for the Registration Expenses incurred in connection with an Underwritten Shelf Takedown prior to a withdrawal under this subsection
2.3.6.


 


2.4 Restrictions on Registration Rights.
If (i) during the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date
of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of, a Company initiated Registration
and provided that the Company has delivered written notice to the Holders prior to receipt of a Demand Registration pursuant to subsection
2.1.1 and it continues to actively employ, in good faith, all commercially reasonable efforts to cause the applicable Registration
Statement to be declared effective; (ii) the Holders have requested an Underwritten Registration and the Company and the Holders
are unable to obtain the commitment of underwriters to firmly underwrite the offer; or (iii) in the good faith judgment of the Board
such Registration would be seriously detrimental to the Company and the Board concludes as a result that it is essential to defer the
filing of such Registration Statement at such time, then in each case the Company shall furnish to such Holders a certificate signed by
the Chairman of the Board stating that in the good faith judgment of the Board it would be seriously detrimental to the Company for such
Registration Statement to be filed in the near future and that it is therefore essential to defer the filing of such Registration Statement.
In such event, the Company shall have the right to defer such filing for a period of not more than thirty (30) days; provided,
however, that the Company shall not defer its obligation in this manner more than two (2) times in any 12-month period.


 


2.5 Market Stand-off. In connection with
any Underwritten Offering of equity securities of the Company in which a Holder participates, if requested by the managing Underwriters,
such Holder agrees that it shall not Transfer any shares of Common Stock or other equity securities of the Company (other than those included
in such offering pursuant to this Agreement), without the prior written consent of the Company, during the ninety (90)-day period (or
such shorter time agreed to by the managing Underwriters) beginning on the date of pricing of such offering, except as expressly permitted
by such lock-up agreement or in the event the managing Underwriters otherwise agree by written consent and further agrees to execute a
customary lock-up agreement in favor of the Underwriters to such effect (in each case on substantially the same terms and conditions as
all such Holders) (a “Lock-Up”). Notwithstanding the foregoing, any release of a Lock-Up by Underwriters shall
only be effective if made on a pro rata basis, including with respect to management and employees, and any Lock-Up with Underwriters shall
contain a clause to this effect. Each of the Holders that is a director or officer of the Company shall execute and deliver any “lock-up”
agreement reasonably requested by the managing underwriter of such Underwritten Offering, but only to the extent as is required generally
of any executive officers or directors by such managing underwriter.


 






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2.6 Block Trades; Other Coordinated Offerings.


 


2.6.1 Notwithstanding any other provision of Article II,
but subject to Sections 2.4 and 3.4, at any time and from time to time when an effective S-3 Shelf is on file with the Commission,
if a Demanding Holder wishes to engage in (a) an underwritten registered offering not involving a “roadshow,” an offer
commonly known as a “block trade” (a “Block Trade”) or (b) an “at the market” or
similar registered offering through a broker, sales agent or distribution agent, whether as agent or principal, (an “Other
Coordinated Offering”), in each case, with an anticipated aggregate offering price of, either (x) at least $20 million
or (y) all remaining Registrable Securities held by the Demanding Holder, then such Demanding Holder only needs to notify the Company
of the Block Trade or Other Coordinated Offering at least five (5) Business Days prior to the day such offering is to commence and
the Company shall as expeditiously as possible use its commercially reasonable efforts to facilitate such Block Trade or Other Coordinated
Offering; provided that the Demanding Holders representing a majority-in-interest of the Registrable Securities wishing to engage
in the Block Trade or Other Coordinated Offering shall use commercially reasonable efforts to work with the Company and any Underwriters,
brokers, sales agents or placement agents prior to making such request in order to facilitate preparation of the registration statement,
prospectus and other offering documentation related to the Block Trade or Other Coordinated Offering.


 


2.6.2 Prior to the filing of the applicable “red
herring” prospectus or prospectus supplement used in connection with a Block Trade or Other Coordinated Offering, a majority-in-interest
of the Demanding Holders initiating such Block Trade or Other Coordinated Offering shall have the right to submit a Withdrawal Notice
to the Company, the Underwriter or Underwriters (if any) and any brokers, sales agents or placement agents (if any) of their intention
to withdraw from such Block Trade or Other Coordinated Offering. Notwithstanding anything to the contrary in this Agreement, the Company
shall be responsible for the Registration Expenses incurred in connection with a Block Trade or Other Coordinated Offering prior to its
withdrawal under this Section 2.6.2.


 


2.6.3 Notwithstanding anything to the contrary
in this Agreement, Section 2.2 shall not apply to a Block Trade or Other Coordinated Offering initiated by a Demanding Holder pursuant
to this Agreement.


 


2.6.4 The Demanding Holders in a Block Trade or
Other Coordinated Offering shall have the right to select the Underwriters and any brokers, sales agents or placement agents (if any)
for such Block Trade or Other Coordinated Offering.


 


2.6.5 A Demanding Holder may demand no more than
two (2) Block Trades or Other Coordinated Offerings pursuant to this Section 2.6 in any twelve (12) month period. For the avoidance
of doubt, any Block Trade or Other Coordinated Offering effected pursuant to this Section 2.6 shall not be counted as a demand for
a Demand Registration pursuant to Section 2.1 hereof or an Underwritten Shelf Takedown pursuant to subsection 2.3.4 hereof.


 


ARTICLE III


COMPANY PROCEDURES


 


3.1 General Procedures. If at any time
on or after the date of this Agreement the Company is required to effect the Registration of Registrable Securities, subject to applicable
law and any regulations promulgated by any securities exchange on which the Company’s equity securities are then listed, each as
interpreted by the Company with the advice of its counsel, the Company shall use its commercially reasonable efforts to effect such Registration
to permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the
Company shall, as expeditiously as possible:


 


3.1.1 prepare and file with the Commission as
soon as reasonably practicable a Registration Statement with respect to such Registrable Securities and use its commercially reasonable
efforts to cause such Registration Statement to be declared effective and remain effective until all Registrable Securities covered by
such Registration Statement have been sold;


 






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3.1.2 prepare and file with the Commission such
amendments and post-effective amendments to the Registration Statement, and such supplements to the Prospectus, as may be (i) requested
by a Holder if additional selling securityholders that are such Holder’s pledgee, donees, transferees, assignees, successors, designees,
successors-in-interest and others who later come to hold any of Holder’s interest in the Registrable Securities other than through
a public sale are required to be included in a supplement to the Prospectus or (ii) any Underwriter of Registrable Securities or
as may be required by the rules, regulations or instructions applicable to the registration form used by the Company or by the Securities
Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by
such Registration Statement are sold in accordance with the intended plan of distribution set forth in such Registration Statement or
supplement to the Prospectus;


 


3.1.3 prior to any public offering of Registrable
Securities, use commercially reasonable efforts to (i) register or qualify the Registrable Securities covered by the Registration
Statement under such securities or “blue sky” laws of such jurisdictions in the United States as the Holders of Registrable
Securities included in such Registration Statement (in light of their intended plan of distribution) may request (or provide evidence
satisfactory to such Holders that the Registrable Securities are exempt from such registration or qualification) and (ii) take such
action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with or approved by such
other governmental authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts
and things that may be necessary or advisable to enable the Holders of Registrable Securities included in such Registration Statement
to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however, that the Company
shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify or take
any action to which it would be subject to general service of process or taxation in any such jurisdiction where it is not then otherwise
so subject;


 


3.1.4 cause all such Registrable Securities to
be listed on each securities exchange or automated quotation system on which similar securities issued by the Company are then listed;


 


3.1.5 provide a transfer agent or warrant agent,
as applicable, and registrar for all such Registrable Securities no later than the effective date of such Registration Statement;


 


3.1.6 advise each seller of such Registrable Securities,
promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any stop order by the Commission suspending the
effectiveness of such Registration Statement or the initiation or threatening of any proceeding for such purpose and promptly use its
commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal if such stop order should be issued;


 


3.1.8 notify the Holders at any time when a Prospectus
relating to such Registration Statement is required to be delivered under the Securities Act, of the happening of any event as a result
of which the Prospectus included in such Registration Statement, as then in effect, includes a Misstatement, and then to correct such
Misstatement as set forth in Section 3.4 hereof;


 


3.1.9 permit a representative of the Holders (such
representative to be selected by a majority of the participating Holders), the Underwriters, if any, and any attorney or accountant retained
by such Holders or Underwriter to participate, other than as set forth in the definition of “Registration Expenses,” at each
such person’s own expense, in the preparation of the Registration Statement, and cause the Company’s officers, directors and
employees to supply all information reasonably requested by any such representative, Underwriter, attorney or accountant in connection
with the Registration; provided, however, that such representatives or Underwriters enter into a confidentiality agreement,
in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information; and, provided
further that such Holders, Underwriters, and their legal counsel must provide any comments promptly (and in any event with five (5) Business
Days) after receipt of such Registration Statement;


 


3.1.10 obtain a “cold comfort” letter
from the Company’s independent registered public accountants in the event of an Underwritten Registration, in customary form and
covering such matters of the type customarily covered by “cold comfort” letters as the managing Underwriter may reasonably
request, and reasonably satisfactory to the managing Underwriter;


 


3.1.11 on the date the Registrable Securities
are delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of counsel representing the Company for the
purposes of such Registration, addressed to the placement agent or sales agent, if any, and the Underwriters, if any, covering such legal
matters with respect to the Registration in respect of which such opinion is being given as the placement agent, sales agent, or Underwriter
may reasonably request and as are customarily included in such opinions and negative assurance letters, and reasonably satisfactory to
the Company;


 






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3.1.12 in the event of any Underwritten Offering,
enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing Underwriter of
such offering;


 


3.1.13 make available to its security holders,
as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first
day of the Company’s first full calendar quarter after the effective date of the Registration Statement which satisfies the provisions
of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule promulgated thereafter by the
Commission);


 


3.1.14 if the Registration involves the Registration
of Registrable Securities involving gross proceeds reasonably expected to be in excess of $25 million, use its reasonable efforts
to make available senior executives of the Company to participate in customary “road show” presentations that may be reasonably
requested by the Underwriter in any Underwritten Offering; and


 


3.1.15 otherwise, in good faith, cooperate reasonably
with, and take such customary actions as may reasonably be requested by the Holders, in connection with such Registration.


 


3.2 Registration Expenses. The Registration
Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the Holders shall bear all incremental
selling expenses relating to the sale of Registrable Securities, such as Underwriters’ commissions and discounts, brokerage fees,
Underwriter marketing costs and, other than as set forth in the definition of “Registration Expenses,” all reasonable fees
and expenses of any legal counsel representing the Holders.


 


3.3 Requirements for Participation in Underwritten
Offerings. Notwithstanding anything in this Agreement to the contrary, if any Holder does not provide the Company with its requested
Holder Information, the Company may exclude such Holder’s Registrable Securities from the applicable Registration Statement or Prospectus
if the Company determines in good faith that such information is necessary to effect the Registration and such Holder continues thereafter
to withhold such information. No person may participate in any Underwritten Offering for equity securities of the Company pursuant to
a Registration initiated by the Company hereunder unless such person (i) agrees to sell such person’s securities on the basis
provided in any underwriting arrangements approved by the Company and (ii) completes and executes all customary questionnaires, powers
of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as may be reasonably required under
the terms of such underwriting arrangements. The exclusion of a Holder’s Registrable Securities as a result of this Section 3.3
shall not affect the Registration of the other Registrable Securities to be included in such Registration. The representations, warranties
and covenants of the Company in any underwriting agreement which are made to or for the benefit of any Underwriters, to the extent applicable,
shall also be made to and for the benefit of Holders holding Registrable Securities included in such Registration Statement. No Holder
holding Registrable Securities included in such Registration Statement shall be required to make any representations or warranties in
the underwriting agreement except, if applicable, with respect to such Holder’s organization, good standing, authority, title to
Registrable Securities, lack of conflict of such sale with such Holder’s material agreements and organizational documents, and with
respect to written information relating to such Holder that such Holder has furnished in writing expressly for inclusion in such Registration
Statement.


 


3.4 Suspension of Sales; Adverse Disclosure.
Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders
shall forthwith discontinue disposition of Registrable Securities until he, she or it has received copies of a supplemented or amended
Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or amendment
as soon as practicable after the time of such notice), or until he, she or it is advised in writing by the Company that the use of the
Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration
at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration Statement of financial
statements that are unavailable to the Company for reasons beyond the Company’s control, the Company may, upon giving prompt written
notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for
the shortest period of time, but in no event more than thirty (30) consecutive days or ninety (90) days in any rolling 12-month
period, determined in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under
the preceding sentence, the Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the
Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities. The Company shall immediately
notify the Holders of the expiration of any period during which it exercised its rights under this Section 3.4.


 






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3.5 Reporting Obligations. As long as any
Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under the Exchange Act, covenants
to use commercially reasonable efforts to: (i) make and keep public information available, as those terms are understood and defined
in Rule 144 and (ii) file timely (or obtain extensions in respect thereof and file within the applicable grace period) all reports
required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act. The Company
further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to
time to enable such Holder to sell shares of Common Stock held by such Holder without registration under the Securities Act within the
limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter
by the Commission), including providing any reasonably requested legal opinions. Upon the request of any Holder, the Company shall deliver
to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.


 


ARTICLE IV


INDEMNIFICATION
AND CONTRIBUTION


 


4.1 Indemnification.


 


4.1.1 The Company agrees to indemnify, to the
extent permitted by law, each Holder of Registrable Securities, its officers and directors and each person who controls such Holder (within
the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses (including attorneys’ fees) caused
by any untrue or alleged untrue statement of material fact contained in any Registration Statement, Prospectus or preliminary Prospectus
or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or
necessary to make the statements therein not misleading, except insofar as the same are caused by or contained in any information furnished
in writing to the Company by or on behalf of such Holder expressly for use therein. The Company shall indemnify the Underwriters, their
officers and directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as
provided in the foregoing sentence with respect to the indemnification of the Holder.


 


4.1.2 In connection with any Registration Statement
in which a Holder of Registrable Securities is participating, such Holder shall furnish to the Company in writing such information and
affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus (the “Holder
Information”) and, to the extent permitted by law, shall indemnify the Company, its directors and officers and agents and
each person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses
(including reasonable attorneys’ fees) resulting from any untrue statement of material fact contained in the Registration Statement,
Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission of a material fact required to be
stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission
is contained in any information or affidavit so furnished in writing by such Holder expressly for use therein; provided, however,
that the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the liability
of each such Holder of Registrable Securities shall be limited to the net proceeds received by such Holder from the sale of Registrable
Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their officers,
directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in
the foregoing with respect to indemnification of the Company.


 






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4.1.3 Any person entitled to indemnification herein
shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided
that the failure to give prompt notice shall not impair any person’s right to indemnification hereunder to the extent such failure
has not materially prejudiced the indemnifying party in the defense of any such claim or any such litigation) and (ii) unless in
such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist
with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to
the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made
by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled
to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all
parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party
a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim.
No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement
which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms
of such settlement) or which settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff to such
indemnified party of a release from all liability in respect to such claim or litigation.


 


4.1.4 The indemnification provided for under this
Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer,
director or controlling person of such indemnified party and shall survive the transfer of securities. If the indemnification provided
under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party
in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu of indemnifying
the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages,
liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified
party, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and indemnified party shall
be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of
a material fact or omission or alleged omission to state a material fact, was made by, or relates to information supplied by, such indemnifying
party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information
and opportunity to correct or prevent such action; provided, however, that the liability of any Holder under this subsection
4.1.4 shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The
amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject
to the limitations set forth in subsections 4.1.1 and 4.1.2 and 4.1.3 above, any legal or other fees, charges or
expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it would
not be just and equitable if contribution pursuant to this subsection 4.1.4 were determined by pro rata allocation or by any other
method of allocation, which does not take account of the equitable considerations referred to in this subsection 4.1.4. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
pursuant to this subsection 4.1.4 from any person who was not guilty of such fraudulent misrepresentation.


 


ARTICLE V


MISCELLANEOUS


 


5.1 Notices. Any notice or communication
under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to the party to be notified,
postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or by courier service providing
evidence of delivery, or (iii) transmission by hand delivery, email or facsimile. Each notice or communication that is mailed, delivered,
or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices,
on the third (3rd) Business Day following the date on which it is mailed and, in the case of notices delivered by courier service,
hand delivery, email, or facsimile, at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger)
or at such time as delivery is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed,
if to the Company, to: TriSalus Life Sciences Inc. c/o Chief Financial Officer, 6272 W 91st Ave, Westminster, Colorado, with a copy to
Cooley LLP, c/o Matthew Browne, 10265 Science Center Drive, San Diego, California 92121-1117, and, if to any Holder, at such Holder’s
address or contact information as set forth in the Company’s books and records. Any party may change its address for notice at any
time and from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty (30) days
after delivery of such notice as provided in this Section 5.1.


 






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5.2 Assignment; No Third Party Beneficiaries.


 


5.2.1 This Agreement and the rights, duties and
obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in part.


 


5.2.2 No Holder may assign or delegate such Holder’s
rights, duties or obligations under this Agreement, in whole or in part, except in connection with a transfer of Registrable Securities
by such Holder to a Permitted Transferee upon receipt by the Company of (a) written notice from such Holder stating the name and
address of the transferee and identifying the number of Registrable Securities with respect to which rights under this Agreement are being
transferred and the nature of the rights so transferred, and (b) a written agreement from such Permitted Transferee agreeing to become
bound by the transfer restrictions set forth in this Agreement. A Permitted Transferee of Registrable Securities who satisfies the conditions
set forth in this subsection 5.2.2. shall henceforth be a “Holder” for purposes of this Agreement.


 


5.2.3 This Agreement and the provisions hereof
shall be binding upon and shall inure to the benefit of each of the parties and its successors and the permitted assigns of the Holders,
which shall include Permitted Transferees.


 


5.2.4 This Agreement shall not confer any rights
or benefits on any persons that are not parties hereto, other than as expressly set forth in this Agreement and Section 5.2
hereof.


 


5.2.5 No assignment by any party hereto of such
party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company unless and until the Company shall
have received (i) written notice of such assignment as provided in Section 5.1 hereof and (ii) the written agreement
of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may
be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made other than as provided in
this Section 5.2 shall be null and void.


 


5.3 Counterparts. This Agreement may be
executed in multiple counterparts (including facsimile, PDF, DocuSign or similarly executed counterparts), each of which shall be deemed
an original, and all of which together shall constitute the same instrument, but only one of which need be produced.


 


5.4 Governing Law. The law of the State
of Delaware shall govern (a) all claims or matters related to or arising from this Agreement (including any tort or non-contractual
claims) and (b) any questions concerning the construction, interpretation, validity and enforceability of this Agreement, and the
performance of the obligations imposed by this Agreement, in each case without giving effect to any choice of law or conflict of law rules or
provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the law of any jurisdiction
other than the State of Delaware.


 


5.5 Venue. Each party hereto submits to
the exclusive jurisdiction of first, the Court of Chancery of the State of Delaware or if such court declines jurisdiction, then to any
court of the State of Delaware or the Federal District Court for the District of Delaware, in any Action arising out of or relating to
this Agreement, agrees that all claims in respect of the Action shall be heard and determined in any such court and agrees not to bring
any Action arising out of or relating to this Agreement in any other courts. Nothing in this Section 5.5, however, shall affect
the right of any party to serve legal process in any other manner permitted by law or at equity. Each party hereto agrees that a final
judgment in any Action so brought shall be conclusive and may be enforced by suit on the judgment or in any other manner provided by law
or at equity. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION BROUGHT TO RESOLVE ANY DISPUTE BETWEEN
OR AMONG ANY OF THE PARTIES (WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO
THIS AGREEMENT, THE TRANSACTIONS OR THE RELATIONSHIPS ESTABLISHED AMONG THE PARTIES UNDER THIS AGREEMENT. EACH PARTY FURTHER WARRANTS
AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS
JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.


 






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5.6 Amendments and Modifications. Upon
the written consent of the Company and the Holders of at least a majority in interest of the Registrable Securities at the time in question,
compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or any of such provisions,
covenants or conditions may be amended or modified; provided, however, that notwithstanding the foregoing, any amendment
hereto or waiver hereof that adversely affects one Holder, solely in his, her or its capacity as a holder of the Registrable Securities,
in a manner that is materially different from the other Holders (in such capacity) shall require the consent of the Holder so affected;
provided further, that a provision that has terminated with respect to a party shall not require any consent of such party (and
such party’s Registrable Securities shall not be considered in computing any percentages) with respect to amending or modifying
such provision. Each Holder agrees that any waiver, amendment or modification effected in accordance with this Section 5.6
shall be binding on all Holders and their successors and assigns. No course of dealing between any Holder or the Company and any other
party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement
shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies
under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder
by such party.


 


5.7 Term. This Agreement shall terminate
upon the earlier of (a) with respect to any Holder on the date that such Holder no longer holds any Registrable Securities; (b) with
respect to any Holder (other than any Holder who is a member of the Sponsor and at the Closing was issued Registrable Securities subject
to price-based vesting, a “Vesting Sponsor Holder”) on the date that is three (3) years after the Closing;
and (c) with respect to a Vesting Sponsor Holder that at the time of vesting continues to hold at least 1% of the aggregate amount
of shares of Common Stock that constitute Registrable Securities (including shares underlying equity awards, warrants or other equity
instruments convertible or exercisable into shares of Common Stock) immediately following the Closing, the earlier of (A) one
(1) year after the price-based vesting condition is met (but in no event less than three (3) years after the Closing) and (B) six
(6) years after the Closing; provided that, in all respects, the provisions of Article IV shall survive any termination
with respect to any such Holder.


 


5.8 Entire Agreement. This Agreement (including
all agreements entered into pursuant hereto and all certificates and instruments delivered pursuant hereto and thereto) constitute the
entire agreement of the parties with respect to the subject matter hereof and supersede all prior and contemporaneous agreements, representations,
understandings, negotiations and discussions between the parties, whether oral or written.


 


5.9 Titles and Headings. Titles and headings
of sections of this Agreement are for convenience only and shall not affect the construction of any provision of this Agreement.


 


5.10 Qualified Additional Holders. In the
event that after the date of this Agreement, the Company wishes to provide any Qualified Additional Holders registration rights as contemplated
by this Agreement, then the Company shall cause such Qualified Additional Holder to become a party to this Agreement by executing a joinder
agreement in the form attached hereto as Exhibit A, agreeing to be bound by and subject to the terms of this Agreement as a Holder
and thereafter such Qualified Additional Holder shall be deemed a Holder for all purposes under this Agreement.


 


5.11 Holder Information. Each Holder agrees,
if requested in writing, to represent to the Company the total number of Registrable Securities held by such Holder in order for the Company
to make determinations hereunder.


 


5.12 Opt-Out Requests. Each Holder
shall have the right, at any time and from time to time (including after receiving information regarding any potential public offering),
to elect to not receive any notice that the Company or any other Holders otherwise are required to deliver pursuant to this Agreement
by delivering to the Company a written statement signed by such Holder that it does not want to receive any notices hereunder (an “Opt-Out
Request”); in which case and notwithstanding anything to the contrary in this Agreement the Company and other Holders shall
not be required to, and shall not, deliver any notice or other information required to be provided to Holders hereunder to the extent
that the Company or such other Holders reasonably expect would result in a Holder acquiring material non-public information within the
meaning of Regulation FD promulgated under the Exchange Act. An Opt-Out Request may state a date on which it expires or, if
no such date is specified, shall remain in effect indefinitely. A Holder who previously has given the Company an Opt-Out Request
may revoke such request at any time, and there shall be no limit on the ability of a Holder to issue and revoke subsequent Opt-Out Requests;
provided that each Holder shall use commercially reasonable efforts to minimize the administrative burden on the Company arising
in connection with any such Opt-Out Requests.


 


[Signature Page Follows]


 






    18


     


    

 


IN WITNESS WHEREOF, the undersigned have
caused this Agreement to be executed as of the date first written above.


 


 


	 	
    COMPANY:

     

    TRISALUS LIFE SCIENCES INC.,

    a Delaware corporation

	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 


 


	 	HOLDERS:
	 	 
	 	MedTech Acquisition Sponsor LLC,
	 	a Delaware limited liability company
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 


[Signature Page to Amended and Restated
Registration Rights Agreement]


 






    


     


    

 


IN WITNESS WHEREOF, the undersigned have
caused this Agreement to be executed as of the date first written above.


 


 


	 	HOLDER:
	 	 	 
	 	By:	 


 


[Signature Page to Amended and Restated
Registration Rights Agreement]


 






    


     


    

 


Exhibit A


 


Form of Joinder


 






    


     


    

 


FORM OF JOINDER TO AMENDED AND RESTATED


REGISTRATION RIGHTS AGREEMENT


 


[                
], 20[●]


 


Reference is made to that certain Amended and
Restated Registration Rights Agreement (as may be amended and/or restated from time to time, the “Registration Rights Agreement”),
dated as of [●], 2023, by and among TriSalus Life Sciences Inc., a Delaware corporation (the “Company”),
MedTech Acquisition Sponsor LLC, a Delaware limited liability company (the “Sponsor”), former stockholders of
the entity formerly known as TriSalus Life Sciences, Inc., a Delaware corporation (“Legacy TriSalus”) and
the undersigned parties listed under Holder on the signature page thereto. Capitalized terms used but not otherwise defined herein
shall have the meanings ascribed to such terms in the Registration Rights Agreement.


 


The undersigned hereby agrees to and does become
party to the Registration Rights Agreement as a Holder thereunder. This Joinder shall serve as a counterpart signature page to the
Registration Rights Agreement and by executing below the undersigned is deemed to have executed the Registration Rights Agreement with
the same force and effect as if originally named a party thereto.


 


This Joinder may be executed in multiple counterparts,
including by means of facsimile or electronic signature, each of which shall be deemed an original, but all of which together shall constitute
the same instrument.


 


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