# EDGAR Filing Document

**Accession Number:** 0001410098
**File Stem:** 0001213900-25-072814
**Filing Date:** 2025-8
**Character Count:** 1265333
**Document Hash:** 5a5743d3b1d8b04161f141e84d23736a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-072814.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0001213900-25-072814

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 37

**CONFORMED PERIOD OF REPORT**: 20250806

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CorMedix Inc.
- **CENTRAL INDEX KEY:** 0001410098
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34673
- **FILM NUMBER:** 251191612

**BUSINESS ADDRESS:**
- **STREET 1:** 300 CONNELL DRIVE
- **STREET 2:** SUITE 4200
- **CITY:** BERKELEY HEIGHTS
- **STATE:** NJ
- **ZIP:** 07922
- **BUSINESS PHONE:** 908-517-9500

**MAIL ADDRESS:**
- **STREET 1:** 300 CONNELL DRIVE
- **STREET 2:** SUITE 4200
- **CITY:** BERKELEY HEIGHTS
- **STATE:** NJ
- **ZIP:** 07922

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): August 6, 2025**

**CorMedix Inc.**

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **001-34473** | **20-5894890** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission File Number)**<br>| **(IRS Employer**<br> **Identification No.)** |

---

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| | |
|:---|:---|
| **300 Connell Drive, Suite 4200** <br> **Berkely Heights, NJ** | **07922** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code: (908)-517-9500**

**(Former Name or Former Address, if Changed Since Last Report)**

**Not Applicable**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.001 par value per share | CRMD | Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01.** **Entry into a Material Definitive Agreement.**

**Merger Agreement** 

On August 7, 2025, CorMedix Inc., a Delaware corporation (the "Company," "CorMedix," "we," "our" and "us"), entered into an Agreement and Plan of Merger (the "Merger Agreement") with Melinta Therapeutics, LLC, a Delaware limited liability company ("Melinta"), Coriander BidCo LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company ("Merger Sub"), and Deerfield Private Design Fund IV, L.P., a Delaware limited partnership, solely in its capacity as representative, agent and attorney-in-fact of the Melinta equityholders (the "Members' Representative").

Pursuant to the terms of the Merger Agreement, and subject to the conditions contained therein, the Company has agreed to acquire Melinta via a merger in which Merger Sub will merge with and into Melinta (the "Merger"), with Melinta surviving as a wholly owned subsidiary of the Company. The closing of the Merger is referred to herein as the "Closing."

The boards of directors of the Company and Melinta have both unanimously approved the proposed transaction, and the requisite members of Melinta, Deerfield Private Design Fund III, L.P. and Deerfield Private Design Fund IV, L.P. (the "Consenting Melinta Members"), have approved the Merger. The Merger is subject of expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Clearance"), and the satisfaction of other customary conditions, and the Merger currently is expected to be completed in September 2025.

 

*Transaction Consideration*

Under the terms and subject to the conditions set forth in the Merger Agreement, at the effective time of the Merger (the "Effective Time" and the date of the Effective Time, the "Closing Date"), the Company will (i) pay to the Melinta equityholders (including the Consenting Melinta Members) an aggregate of $260 million in cash (subject to adjustment for the Aggregate Exercise Price, Estimated Company Cash, Estimated Company Debt, Estimated Working Capital as compared to the Working Capital Target, and Estimated Transaction Expenses (each as defined in the Merger Agreement)), and (ii) to the Consenting Melinta Members an aggregate of $40 million worth of common shares, par value $0.001 per share, of the Company (the "Merger Shares") or, at the election of a Consenting Melinta Member, in lieu of any of the Merger Shares it is so entitled to receive, a pre-funded warrant exercisable for such number of Merger Shares (each, a "Merger Warrant"). Additionally, the Consenting Melinta Members and certain Company Optionholders (as defined in the Merger Agreement) will be eligible to receive certain contingent payments pursuant to the terms of the Merger Agreement, the Contingent Payment Agreement (as defined and described below) and the Option Treatment Agreements (as defined in the Merger Agreement). The cash consideration will be funded by a combination of the Company's existing cash on hand and a $150 million Convertible Notes Offering (as defined below).

*Representations and Warranties; Covenants; Conditions to Closing; Termination*

The Merger Agreement contains a number of representations and warranties made by the Company, Merger Sub and Melinta as of the date of such agreement or other specific dates solely for the benefit of certain of the parties to the Merger Agreement, which in certain cases are subject to specified exceptions and materiality, Company Material Adverse Effect or Parent Material Adverse Effect (each as defined in the Merger Agreement), knowledge and other qualifications contained in the Merger Agreement or in information provided pursuant to certain disclosure schedules to the Merger Agreement. The representations and warranties made under the Merger Agreement will not survive the Closing.

The Merger Agreement contains certain customary covenants for transactions of this type by the Company and Melinta. None of the covenants and agreements of the parties contained in the Merger Agreement will survive the Closing, except for those covenants and agreements that by their terms expressly apply in whole or in part after the Closing.

The Merger is subject to various closing conditions, including, but not limited to: (i) HSR Clearance; (ii) the absence of any statute, rule, order, decree or regulation prohibiting the Merger; (iii) the absence of any Parent Material Adverse Effect or Company Material Adverse Effect (each as defined in the Merger Agreement) on the Company or Melinta, respectively; and (iv) the accuracy of the representations and warranties and the compliance by each party with the covenants contained in the Merger Agreement, subject to the materiality standards and exceptions set forth in the Merger Agreement.

The Merger Agreement may be terminated under certain customary and limited circumstances prior to the closing of the Merger.

The foregoing description of the Merger Agreement and the transactions contemplated thereby is not intended to be complete and is qualified in its entirety by reference to the full text of the Merger Agreement, which is attached as Exhibit 2.1 and is incorporated herein by reference.

**Related Agreements**

This section describes the material provisions of certain additional agreements entered into or to be entered into pursuant to the Merger Agreement (the "Related Agreements") but does not purport to describe all of the terms thereof.

 ****

***Contingent Payment Agreement***

Pursuant to the terms of the Merger Agreement, simultaneously with the Closing, the Company, Melinta, the Consenting Melinta Members and the Members' Representative will enter into a contingent payment agreement (the "Contingent Payment Agreement"), pursuant to which in connection with the Merger Agreement and as part of the Merger Consideration payable to the Consenting Melinta Members, the Company will make certain payments to the Contingent Payment Holders (as defined in the Contingent Payment Agreement) as described below.

The Contingent Payment Agreement provides for milestone and net sales based payments. Upon the issuance of the U.S. Food and Drug Administration ("FDA") marketing approval of (a) the product known as REZZAYO<sup>TM</sup> (rezafungin) as of the date hereof or as may be modified thereafter, or (b) any product that contains the active ingredient rezafungin, for the prevention or prophylaxis of invasive fungal infections in adult patients undergoing allogeneic stem cell blood and marrow transplant or the regulatory equivalent on or prior to June 30, 2029, the Company shall pay, in cash or common shares, par value $0.001 per share, of the Company ("Common Stock") at the Company's election, to the Contingent Payment Holders and certain Company Optionholders the following payments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the FDA-approved labeling includes candida, $20 million;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the FDA-approved labeling includes aspergillus, $2.5 million; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if the FDA-approved labeling includes pneumocystis, $2.5 million.

Further, the Contingent Payment Agreement provides that the Company will pay to the Contingent Payment Holders tiered royalties on REZZAYO<sup>TM</sup> (rezafungin) U.S. net sales and low-single-digit royalties on MINOCIN<sup>®</sup> (minocycline) U.S. net sales.

A copy of the Form of Contingent Payment is filed as an exhibit to the Merger Agreement and is incorporated herein by reference, and the foregoing description of the Form of Contingent Payment Agreement is qualified in its entirety by reference thereto.

 ****

***Registration Rights Agreement***

Pursuant to the terms of the Merger Agreement, simultaneously with the Closing, the Company and the Consenting Melinta Members will enter into a registration rights agreement (the "Registration Rights Agreement"), pursuant to which, among other things, the Company will agree to register for resale, pursuant to Rule 415 under the Securities Act of 1933, as amended (the "Securities Act"), the Merger Shares, the shares of Common Stock issuable upon exercise of any Merger Warrants (the "Merger Warrant Shares") and other equity securities issued to the Consenting Melinta Members, if any, pursuant to the Contingent Payment Agreement. One third of the Merger Shares and Merger Warrant Shares will be subject to a 60-day lock-up, and one third of Merger Shares and Merger Warrant Shares will be subject to a 120-day lock-up.

A copy of the form of Registration Rights Agreement is filed as an exhibit to the Merger Agreement and is incorporated herein by reference, and the foregoing description of the Registration Rights Agreement is qualified in its entirety by reference thereto.

 ****

 ****

**Convertible Notes Offering**

On August 6, 2025, the Company entered into subscription agreements (the "Subscription Agreements") with certain investors to provide for the issuance of $150,000,000 aggregate principal amount of its convertible senior notes due 2030 (the "Notes") in a private placement, exempt from registration pursuant to Section 4(a)(2) of the Securities Act. Such offering is herein referred to as the "Convertible Notes Offering." Upon issuance, the Notes will be eligible for resale to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A of the Securities Act. Subject to the terms and conditions of the Subscription Agreements, the Company expects the Notes to be issued on August 12, 2025 (the "Notes Closing Date").

Upon issuance, the Notes will be governed by an Indenture (the "Indenture"), by and between the Company and U.S. Bank Trust Company, National Association, as trustee (in such capacity, the "Trustee"), the form of which is attached hereto as Exhibit 4.1 and incorporated by reference herein. Upon issuance, the Notes will bear interest at a rate of 4.00% per annum, payable semi-annually in arrears on February 1 and August 1 of each year, commencing on February 1, 2026. The Notes will mature on August 1, 2030 (the "Maturity Date") and will be senior, unsecured obligations of the Company.

Following issuance of the Notes, the Company intends to use the net proceeds from the Convertible Notes Offering to fund a portion of the purchase price payable in connection with the Merger, including related fees and expenses, and to the extent there are any remaining proceeds in excess of the funds needed for the forgoing purposes, for such other general corporate purposes as the Company determines as appropriate.

The Company has the option to redeem all, but not part, of the Notes if the Company publicly announces that the Merger Agreement has been terminated or that the Merger will not otherwise be consummated (the "Melinta Acquisition Redemption" and on such date, the "Melinta Acquisition Redemption Date"), at a redemption price equal to the greater of (i) 102% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the Melinta Acquisition Redemption Date, and (ii) the sum of (a) 100% of the principal amount of such Notes, plus accrued and unpaid interest, if any, to but excluding, the Melinta Acquisition Redemption Date plus (b) 70% of the difference, if positive, between the Melinta Acquisition Redemption Conversion Value and the Initial Conversion Value (each such term as defined in the Indenture).

In addition, on or after August 4, 2028 and prior to the 26<sup>th</sup> Scheduled Trading Day (as defined in the Indenture) immediately preceding the Maturity Date, the Company may redeem for cash all or any portion of the Notes, at its option, subject to certain conditions and requirements set forth in the Indenture, if the last reported sale price of the Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which the Company provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which it provides notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Notes.

If the Company experiences a Fundamental Change (as defined in the Indenture) at any time prior to the Maturity Date, any holder of the Notes may require the Company to repurchase all of such holder's Notes, or any portion of the principal amount thereof equal to $1,000 or an integral multiple of $1,000, at a repurchase price equal to 100% of the principal amount of such Notes, respectively, plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase.

Following issuance of the Notes, the Notes will be convertible at the option of the holders (i) during any calendar quarter commencing after the calendar quarter ending on September 30, 2025 (and only during such calendar quarter), if the closing price of the Common Stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is equal to or greater than 130% of the applicable conversion price per share, which is $1,000 divided by the then applicable conversion rate, on each applicable trading day, (ii) if the Company calls any or all of the Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; (iii) upon the occurrence of specified corporate events; or (iv) during the five business day period after any five consecutive trading day period (the "Measurement Period") in which the trading price per $1,000 principal amount of Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price of the Common Stock and the applicable conversion rate in effect on each such trading day. On or after May 1, 2030 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their Notes, in multiples of $1,000 principal amount, at the option of the holder regardless of the foregoing circumstances.

Upon conversion, the Company will satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of the Company's Common Stock or a combination of cash and shares of Common Stock, at the Company's election (provided that for so long as the Exchange Cap (as defined in the Indenture) applies, the Company may only elect Cash Settlement or Capped Combination Settlement (as such terms are defined in the indenture)), in the manner and subject to the terms and conditions provided in the Indenture. Notwithstanding the foregoing, prior to receipt of approval from the Company's stockholder in accordance with Nasdaq rules, the Company will not issue any shares of Common Stock under the Indenture (including any shares issued pursuant to conversions of the Notes), together with any transactions aggregated with the foregoing (including any issuance of shares (including Merger Warrant Shares) contemplated by the Merger Agreement and any issuance of shares (including Merger Warrant Shares) pursuant to the Contingent Payment Agreement), if the issuance of such shares of Common Stock would exceed 19.99% of the aggregate number of shares of Common Stock issued and outstanding as of August 6, 2025.

The conversion rate for the Notes will be determined upon issuance in accordance with the Indenture, and will be equal to an amount (rounded to four decimal places) equal to (i) $1,000 divided by (ii) the greater of (x) 130% of the arithmetic average of the Daily VWAP (as defined in the Indenture) on each of the three consecutive trading days beginning on, and including, the trading day immediately after the public announcement of the execution of the Merger Agreement (i.e., August 7, 2025) and (y) 110% of the lowest bona fide sale price of the Common Stock on any national securities exchange or automated interdealer quotation system on August 6, 2025.

The conversion rate is subject to adjustment under certain circumstances in accordance with the Indenture. In connection with certain corporate events or if the Company issues a notice of redemption, it will, under certain circumstances, increase the conversion rate for holders who elect to convert their Notes in connection with such corporate event or during the relevant redemption period.

The foregoing summary and description of the Indenture and the Notes does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Indenture and the Form of Note, which are filed as Exhibit 4.1 and Exhibit 4.2 hereto and are incorporated by reference herein.

**Item 2.02 Results of Operations and Financial Condition**

On August 7, 2025, the Company issued a press release announcing its financial results for the quarter ended June 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this report.

The information in this Item 2.02 (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.

**Item 3.02. Unregistered Sale of Securities.**

The information contained above under Item 1.01, to the extent required by Item 3.02 of Form 8-K, is hereby incorporated by reference herein. The offer and sale of the securities issuable in the Merger (including any Merger Warrant Shares), any securities issuable pursuant to the Contingent Payment Agreement (including any shares of Common Stock or shares of Common Stock underlying any pre-funded warrants) and the Convertible Notes Offering are being made in reliance on the exemption afforded by Section 4(a)(2) of the Securities Act and corresponding provisions of state securities or "blue sky" laws. The securities issuable in the Merger, upon exercise of any Merger Warrants, the Contingent Payment Agreement, including any shares of Common Stock or shares of Common Stock underlying any pre-funded warrants, or in the Convertible Notes Offering have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the "SEC") or an applicable exemption from the registration requirements. The issuance and sale of the securities issuable in the Merger or in the Convertible Notes Offering did not involve a public offering and was made without general solicitation or general advertising.

Neither this Current Report on Form 8-K nor any exhibit attached hereto is an offer to sell or the solicitation of an offer to buy shares of Common Stock or other securities of the Company.

**Item 7.01. Regulation FD Disclosure.**

On August 7, 2025, the Company issued a press release announcing the execution of the Merger Agreement and the signing of subscription agreements relating to the Convertible Notes Offering. Pursuant to Regulation FD, a copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.2 and incorporated by reference herein.

Furnished as Exhibit 99.3 and Exhibit 99.4 and incorporated herein by reference are selected financial information of Melinta for the fiscal year ended December 31, 2024, quarter ended March 31, 2025 and the quarter ended June 30, 2025 and an investor presentation, respectively, that have been used by the Company in connection with the Convertible Notes Offering.

The financial information of Melinta for the quarter ended June 30, 2025, and as a result any pro forma financial information, is preliminary and unaudited, and based solely on estimates of Melinta management as of the date hereof, and is subject to modification upon completion of Melinta's quarter-end close procedures.

The information in this Item 7.01 (including Exhibit 99.2, Exhibit 99.3 and Exhibit 99.4) shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.

**Item 8.01. Other Information.** 

On August 6, 2025, the Company entered into Subscription Agreements with certain investors in connection with the Convertible Notes Offering. A form of the Subscription Agreement is attached hereto as Exhibit 99.5 and incorporated by reference herein.

**Forward-Looking Statements**

This Current Report on Form 8-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act, that are subject to risks and uncertainties. Forward-looking statements are often identified by the use of words such as, but not limited to, "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "will," "plan," "project," "seek," "should," "target," "will," "would," and similar expressions or variations intended to identify forward-looking statements. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or CorMedix's prospects should be considered forward-looking statements. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, and readers are directed to the Risk Factors identified in CorMedix's filings with the SEC, including its most recent Annual Report on Form 10-K, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from CorMedix and in the Quarterly Report on Form 10-Q for the quarter ended, on June 30, 2025. CorMedix may not actually achieve the goals or plans described in its forward-looking statements, and such forward-looking statements speak only as of the date of this Current Report on Form 8-K. Investors should not place undue reliance on these statements. CorMedix assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Actual outcomes or results may differ from anticipated results, sometimes materially. Factors that could cause actual results to differ include, but are not limited to: the ultimate outcome of the acquisition of Melinta; the satisfaction of the conditions to the closing of the proposed transaction in a timely manner; the ability of the combined company to achieve the identified synergies; the ability to integrate the Melinta business into CorMedix and realize the anticipated strategic benefits of the transaction within the expected time-frames or at all; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of Melinta; the expected benefits and success of Melinta's products and product candidates; potential litigation relating to the potential transaction that could be instituted against CorMedix or its directors; rating agency actions and CorMedix's ability to access short- and long-term debt markets on a timely and affordable basis; general economic conditions that are less favorable than expected; geopolitical developments and additional changes in international trade policies and relations, including tariffs; and the ability of the Company's products and product candidates to compete effectively against current and future competitors.

This Current Report on Form 8-K is not an offer to sell any securities of the Company and is not a solicitation of an offer to buy any securities of the Company.

**Item 9.01.** **Financial Statements and Exhibits.** 

**(d) Exhibits.** 

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| | |
|:---|:---|
| **Exhibit<br> Number** | **Description of Exhibit** |
| 2.1\* | [Agreement and Plan of Merger, dated as of August 7, 2025, by and among CorMedix Inc., Melinta Therapeutics, LLC, Coriander BidCo LLC and Deerfield Private Design Fund IV, L.P., solely in its capacity as representative, agent and attorney-in-fact of the Company Members](ea025204301ex2-1_cormedix.htm) |
| 4.1 | [Form of Indenture, to be entered into by and between CorMedix Inc. and U.S. Bank Trust Company, National Association](ea025204301ex4-1_cormedix.htm) |
| 4.2 | [Form of 4.00% Convertible Senior Notes due 2030 of CorMedix Inc. (included in Exhibit 4.1)](ea025204301ex4-1_cormedix.htm) |
| 99.1 | [Press Release, dated August 7, 2025](ea025204301ex99-1_cormedix.htm) |
| 99.2 | [Press Release, dated August 7, 2025](ea025204301ex99-2_cormedix.htm) |
| 99.3 | [Selected financial information of Melinta Therapeutics, LLC](ea025204301ex99-3_cormedix.htm) |
| 99.4 | [Investor Presentation](ea025204301ex99-4_cormedix.htm) |
| 99.5 | [Form of Subscription Agreement](ea025204301ex99-5_cormedix.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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\* Portions of this exhibit have been omitted pursuant to Item 601(b)(2)(ii) of Regulation S-K.

**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  |  | **CorMedix Inc.** |
| Date: August 7, 2025 | By: | /s/ Joseph Todisco |
|  |  | Joseph Todisco |
|  |  | Chief Executive Officer |

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## Exhibit 2.1

**Exhibit 2.1**

**CONFIDENTIAL**

**EXECUTION VERSION**

**AGREEMENT AND PLAN OF MERGER**

**dated as of August 7, 2025, among**

**CorMedix Inc., Coriander Bidco LLC, MELINTA THERAPEUTICS, LLC, AND**

**Deerfield Private Design Fund IV, L.P.,<br> as the<br> Members' REPRESENTATIVE**

**CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) PRIVATE OR CONFIDENTIAL. SUCH EXCLUDED INFORMATION IS IDENTIFIED HEREIN WITH "[\*\*\*]." SCHEDULES AND EXHIBITS HAVE BEEN OMITTED PURSUANT TO ITEM 601(A)(5) OF REGULATION S-K.**

**Table of Contents**

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| | | |
|:---|:---|:---|
|  |  | **Page** |
| ARTICLE I THE MERGER | ARTICLE I THE MERGER | 2 |
| Section 1.01 | The Merger | 2 |
| Section 1.02 | The Closing | 2 |
| Section 1.03 | Effective Time | 2 |
| Section 1.04 | Effects of Merger | 2 |
| Section 1.05 | Certificate of Formation and Operating Agreement | 2 |
| Section 1.06 | Manager and Officers | 3 |
| Section 1.07 | Closing Deliveries | 3 |
| Section 1.08 | Effect on Equity Interests and Company Options | 5 |
| Section 1.09 | Payment of Merger Consideration | 6 |
| Section 1.10 | Post-Closing Adjustment | 8 |
| Section 1.11 | Tax Consequences | 9 |
| Section 1.12 | Taking of Necessary Action; Further Action | 9 |
| Section 1.13 | Members' Representative | 10 |
| Section 1.14 | Letter of Transmittal | 11 |
| Section 1.15 | Reliance on Allocation Schedule | 11 |
| ARTICLE II REPRESENTATIONS AND WARRANTIES OF THE COMPANY | ARTICLE II REPRESENTATIONS AND WARRANTIES OF THE COMPANY | 12 |
| Section 2.01 | Organization, Standing and Power | 12 |
| Section 2.02 | Capital Structure | 12 |
| Section 2.03 | Subsidiaries | 13 |
| Section 2.04 | Authority; Execution and Delivery; Enforceability | 14 |
| Section 2.05 | No Conflicts; Consents | 15 |
| Section 2.06 | Financial Statements; Undisclosed Liabilities | 15 |
| Section 2.07 | Absence of Certain Changes or Events | 16 |
| Section 2.08 | Taxes | 16 |
| Section 2.09 | Labor Relations | 19 |
| Section 2.10 | Employee Benefits | 20 |
| Section 2.11 | Property | 23 |
| Section 2.12 | Material Contracts | 23 |
| Section 2.13 | Litigation | 25 |
| Section 2.14 | Compliance with Laws | 26 |
| Section 2.15 | Regulatory Matters | 26 |
| Section 2.16 | Environmental Matters | 31 |
| Section 2.17 | Intellectual Property | 31 |
| Section 2.18 | Privacy | 34 |
| Section 2.19 | Insurance | 34 |
| Section 2.20 | Brokers and Other Advisors | 34 |
| Section 2.21 | Transactions with Related Parties | 35 |
| Section 2.22 | Solvency | 35 |
| Section 2.23 | International Trade and Anti-Corruption Matters | 35 |
| Section 2.24 | Bank Accounts; Power of Attorney | 35 |
| Section 2.25 | Books and Records | 36 |
| Section 2.26 | Purchase Orders and Commitments | 36 |
| Section 2.27 | Top Customers; Top Suppliers | 36 |

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i

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| | | |
|:---|:---|:---|
| ARTICLE III REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB | ARTICLE III REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB | 37 |
| Section 3.01 | Organization, Standing and Power | 37 |
| Section 3.02 | Capital Structure | 37 |
| Section 3.03 | Merger Sub | 38 |
| Section 3.04 | Authority; Execution and Delivery; Enforceability | 38 |
| Section 3.05 | No Conflicts; Consents | 39 |
| Section 3.06 | Absence of Certain Changes or Events | 39 |
| Section 3.07 | Litigation | 39 |
| Section 3.08 | Brokers and Other Advisors | 39 |
| Section 3.09 | Solvency; Financing | 39 |
| Section 3.10 | Pending Transactions | 40 |
| Section 3.11 | SEC Filings | 40 |
| Section 3.12 | Parent Financial Statements; Undisclosed Liabilities; Investment Company Act; Shell Company Status | 41 |
| Section 3.13 | R&W Policy | 42 |
| ARTICLE IV COVENANTS RELATING TO CONDUCT OF BUSINESS | ARTICLE IV COVENANTS RELATING TO CONDUCT OF BUSINESS | 42 |
| Section 4.01 | Conduct of Business of the Company Group | 42 |
| Section 4.02 | Parent Forbearances | 46 |
| Section 4.03 | No Control of Other Party's Business | 46 |
| Section 4.04 | No Solicitation | 47 |
| ARTICLE V ADDITIONAL AGREEMENTS | ARTICLE V ADDITIONAL AGREEMENTS | 47 |
| Section 5.01 | Access to Information; Confidentiality | 47 |
| Section 5.02 | Member Approval and Notification | 47 |
| Section 5.03 | Reasonable Best Efforts | 48 |
| Section 5.04 | Filings; Other Actions; Notification | 48 |
| Section 5.05 | Employee Matters | 50 |
| Section 5.06 | Spreadsheets | 53 |
| Section 5.07 | Expenses | 53 |
| Section 5.08 | [Intentionally Omitted | 53 |
| Section 5.09 | Director and Officer Indemnification | 53 |
| Section 5.10 | Public Announcements | 54 |
| Section 5.11 | Tax Matters | 55 |
| Section 5.12 | Merger Sub and Surviving Company Compliance | 57 |
| Section 5.13 | 280G Approval | 57 |
| Section 5.14 | R&W Policy | 58 |
| Section 5.15 | Third-Party Consents | 58 |
| Section 5.16 | Pre-Closing Distribution | 58 |
| Section 5.17 | TOPROL Acquisition | 58 |

---

ii

---

| | | |
|:---|:---|:---|
| ARTICLE VI CONDITIONS PRECEDENT TO THE MERGER | ARTICLE VI CONDITIONS PRECEDENT TO THE MERGER | 58 |
| Section 6.01 | Conditions to Each Party's Obligation | 58 |
| Section 6.02 | Additional Conditions to Obligations of the Company | 59 |
| Section 6.03 | Additional Conditions to the Obligations of Parent | 59 |
| ARTICLE VII TERMINATION, AMENDMENT AND WAIVER | ARTICLE VII TERMINATION, AMENDMENT AND WAIVER | 60 |
| Section 7.01 | Termination | 60 |
| Section 7.02 | Effect of Termination | 61 |
| Section 7.03 | Amendment; Extension; Waiver | 62 |
| Section 7.04 | Procedure for Termination, Amendment, Extension or Waiver | 62 |
| ARTICLE VIII GENERAL PROVISIONS | ARTICLE VIII GENERAL PROVISIONS | 62 |
| Section 8.01 | Survival; Non-Recourse | 62 |
| Section 8.02 | Notices | 63 |
| Section 8.03 | Definitions | 64 |
| Section 8.04 | Interpretation | 79 |
| Section 8.05 | Severability | 80 |
| Section 8.06 | Counterparts | 80 |
| Section 8.07 | Entire Agreement; Third-Party Beneficiaries; No Other Representations or Warranties | 80 |
| Section 8.08 | Governing Law | 82 |
| Section 8.09 | Assignment | 82 |
| Section 8.10 | Specific Enforcement; Jurisdiction | 82 |
| Section 8.11 | WAIVER OF JURY TRIAL | 83 |
| Section 8.12 | Cooperation | 83 |
| Section 8.13 | Representation | 83 |
| Section 8.14 | Independent Nature of Company Members | 84 |

---

iii

**Exhibits**

---

| | |
|:---|:---|
| **EXHIBIT A** | **Form of Written Consent** |
| **EXHIBIT B** | **R&W Policy** |
| **EXHIBIT C** | **Form of Certificate of Merger** |
| **EXHIBIT D** | **Form of Certificate of Formation of the Surviving Company** |
| **EXHIBIT E** | **Form of Contingent Payment Agreement** |
| **EXHIBIT F** | **Form of Registration Rights Agreement** |
| **EXHIBIT G** | **Form of Escrow Agreement** |
| **EXHIBIT H** | **Form of Letter of Transmittal** |
| **EXHIBIT I** | **Form of Optionholder Notice** |
| **EXHIBIT J** | **Form of Spreadsheet** |
| **EXHIBIT K** | **Form of Feptanbli Assignment Agreement** |
| **EXHIBIT L** | **Form of TOPROL Acquisition Agreement** |
| **EXHIBIT M** | **Form of Closing Share Warrants** |
| **EXHIBIT N** | **Equity Value Recognition Bonus Plan** |
| **EXHIBIT O** | **Form of Option Treatment Agreement** |
| **EXHIBIT P** | **Form of Promised Equity Cancellation Agreement** |
| **EXHIBIT Q-1** | **Form of Institutional Restrictive Covenant Agreement** |
| **EXHIBIT Q-2** | **Form of Individual Restrictive Covenant Agreement** |
| **EXHIBIT R** | **Illustrative Working Capital Calculation** |

---

**Schedules**

---

| | |
|:---|:---|
| SCHEDULE 1.07(b)(x) | Instruments to Terminate |
| SCHEDULE 1.07(b)(xi) | Restrictive Covenant Signatories |
| SCHEDULE 6.01(a) | Foreign Legal Restraints |
| SCHEDULE 8.03(a) | Allocation of Merger Consideration |
| SCHEDULE 8.03(b) | Index of Defined Terms |

---

iv

**AGREEMENT AND PLAN OF MERGER**

This AGREEMENT AND PLAN OF MERGER, dated as of August 7, 2025 (this "**Agreement**" and, such date, the "**Agreement Date**"), by and among CorMedix Inc., a Delaware corporation ("**Parent**"), Coriander BidCo LLC, a Delaware limited liability company and a wholly owned subsidiary of Parent ("**Merger Sub**"), Melinta Therapeutics, LLC, a Delaware limited liability company (the "**Company**"), and Deerfield Private Design Fund IV, L.P., a Delaware limited partnership, solely in its capacity as representative, agent and attorney-in-fact of the Company Members (the "**Members' Representative**"). Certain capitalized terms have the meanings set forth in <u>Section 8.03</u>.

**RECITALS**

WHEREAS, Parent, Merger Sub and the Company intend to effect a merger of Merger Sub with and into the Company in accordance with this Agreement (the "**Merger**") and the Delaware Limited Liability Company Act (the "**DLLCA**"). Upon consummation of the Merger, Merger Sub will cease to exist, and the Company will become a wholly owned subsidiary of Parent;

WHEREAS, the board of directors of the Company (the "**Company Board**") has carefully considered the terms of this Agreement and has unanimously: (i) approved this Agreement, the Merger and the transactions contemplated by this Agreement (collectively, the "**Transactions**"), upon the terms and subject to the conditions set forth herein, in accordance with the DLLCA and the Company Operating Agreement; (ii) determined that this Agreement and the Transactions contemplated hereby are fair and advisable to the Company Members; and (iii) recommended adoption of this Agreement by the Company Members;

WHEREAS, the sole managing member of Merger Sub has approved this Agreement and the Transactions, including the Merger, upon the terms and subject to the conditions set forth herein, in accordance with the DLLCA and the operating agreement of Merger Sub;

WHEREAS, the board of directors of Parent has unanimously approved this Agreement and the Transactions, including the Merger, upon the terms and subject to the conditions set forth herein, and Parent, as the sole member of Merger Sub, shall, on the Agreement Date immediately following execution and delivery of this Agreement, adopt this Agreement and approve the Transactions, including the Merger;

WHEREAS, no later than twelve (12) hours following the execution and delivery of this Agreement, the Company shall deliver to Parent a written consent in substantially the form attached hereto as <u>Exhibit A</u> (a "**Written Consent**") executed by (i) Deerfield Private Design Fund III, L.P. and (ii) Deerfield Private Design Fund IV, L.P. (together, the "**Consenting Company Members**"), evidencing, among other things, the obtainment of the Company Member Approval; and

WHEREAS, concurrently with the execution of this Agreement, Parent and Merger Sub have caused the representation and warranty insurance policy attached hereto as <u>Exhibit B</u> (the "**R&W Policy**") to be conditionally bound.

NOW, THEREFORE, the parties hereto agree as follows:

**ARTICLE I<br> THE MERGER**

Section 1.01 The Merger. On the terms and subject to the conditions set forth in this Agreement, and in accordance with the DLLCA, Merger Sub shall be merged with and into the Company at the Effective Time. At the Effective Time, the separate corporate existence of Merger Sub shall cease and the Company shall continue as the surviving limited liability company (the "**Surviving Company**") and a wholly owned subsidiary of Parent.

Section 1.02 <u>The Closing</u>. The closing of the Merger (the "**Closing**") shall occur remotely by electronic exchange of signatures and documents on a date and time to be agreed by Parent and the Company, which date shall be no later than the second (2<sup>nd</sup>) business day following the date on which all of the conditions set forth in <u>Article VI</u> have been satisfied or waived (other than those conditions that, by their terms, are intended to be satisfied at the Closing, but subject to the satisfaction or waiver of those conditions) unless another date, time or place is agreed to in writing by Parent and the Company; <u>provided</u> that if such business day would otherwise occur prior to the earlier of (i) the date on which Option Treatment Agreements executed by each Company Optionholder have been provided to the Parent or (ii) the date that is twenty (20) business days following the date on which the Optionholder Notice is delivered to the Company Optionholders, then Parent may, in its sole discretion, delay the Closing until the next Business Day that follows the occurrence of the earlier of the events described in clauses (i) or (ii), subject to the continued satisfaction or waiver of the conditions set forth in <u>Article VI</u>. The date on which the Closing occurs is referred to herein as the "**Closing Date**".

Section 1.03 <u>Effective Time</u>. On the Closing Date, the Company shall file with the Secretary of State of the State of Delaware a certificate of merger substantially in the form attached hereto as <u>Exhibit C</u> (the "**Certificate of Merger**") executed in accordance with the relevant provisions of the DLLCA and shall make all other filings or recordings required under the DLLCA to effectuate the Merger. The Merger shall become effective at such time as the Certificate of Merger is duly filed with the Secretary of State of the State of Delaware or at such other time as Parent and the Company shall agree and specify in such Certificate of Merger (the time the Merger becomes effective is referred to in this Agreement as the "**Effective Time**").

Section 1.04 <u>Effects of Merger</u>. At and after the Effective Time, the Merger shall have the effects provided in this Agreement and as set forth in the applicable provisions of the DLLCA. Without limiting the generality of the foregoing, and subject thereto, at the Effective Time, all the property, assets, rights, privileges, powers and franchises of each of the Company and Merger Sub shall vest in the Surviving Company, and all debts, liabilities, obligations and duties of the Company and Merger Sub shall attach to and become the debts, liabilities, obligations and duties of the Surviving Company.

Section 1.05 <u>Certificate of Formation and Operating Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At the Effective Time, the certificate of formation of Merger Sub shall be amended and restated in its entirety to be in the form attached as <u>Exhibit D</u> and, as so amended and restated, such certificate of formation shall be the certificate of formation of the Surviving Company, until thereafter changed or amended as provided therein or permitted by applicable Law (including the DLLCA).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The limited liability company agreement of Merger Sub as in effect immediately prior to the Effective Time shall be the limited liability company agreement of the Surviving Company from and after the Effective Time until thereafter changed or amended as provided therein or permitted by applicable Law, except that (i) references to the name of Merger Sub shall be replaced with "Melinta Therapeutics, LLC" and (ii) the provisions related to exculpation and indemnification of any Company Indemnified Parties shall be consistent with <u>Section 5.09</u> (the "**Surviving Company Operating Agreement**").

Section 1.06 <u>Manager and Officers</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The "manager" (within the meaning of the DLLCA) of Merger Sub immediately prior to the Effective Time shall be the manager of the Surviving Company immediately following the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The officers of Merger Sub immediately prior to the Effective Time shall be the initial officers of the Surviving Company, each to hold office in accordance with the Surviving Company Operating Agreement, until the earlier of their resignation or removal or until their respective successors are duly elected or appointed and qualified, as the case may be.

Section 1.07 <u>Closing Deliveries</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Parent Deliveries</u>. Parent shall deliver to the Company, at or prior to the Closing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a certificate, dated as of the Closing Date, executed on behalf of Parent by a duly authorized officer of Parent, certifying (A) that each of the conditions set forth in <u>Section 6.02(a)</u> has been satisfied, (B) the certificate of incorporation of Parent in effect as of immediately prior to the Closing, (C) the bylaws of Parent in effect as of immediately prior to the Closing and (D) the resolutions of the board of directors of Parent approving this Agreement, the Merger and the other Transactions, upon the terms and subject to the conditions set forth herein, and that such resolutions have not been rescinded, modified or withdrawn;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a certificate, dated as of the Closing Date and executed on behalf of Merger Sub by a duly authorized officer of Merger Sub, certifying (A) the certificate of formation of Merger Sub in effect as of immediately prior to the Closing, (B) the operating agreement of Merger Sub in effect as of immediately prior to the Closing, (C) the resolutions of the board of managers of Merger Sub approving this Agreement, the Merger and the other Transactions, upon the terms and subject to the conditions set forth herein, in accordance with the DLLCA and the operating agreement of Merger Sub, and that such resolutions have not been rescinded, modified or withdrawn, and (D) the resolutions of the sole managing member of Merger Sub approving this Agreement, the Merger and the other Transactions, upon the terms and subject to the conditions set forth herein, and that such resolutions have not been rescinded, modified or withdrawn;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Escrow Agreement, duly executed by Parent and the Escrow Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the R&W Policy (including all documents related thereto), which R&W Policy is, and at all times from the Agreement Date shall have been, in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Restrictive Covenant Agreements, duly executed by Parent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) a contingent payment agreement substantially in the form attached hereto as <u>Exhibit E</u> (the "**Contingent Payment Agreement**"), duly executed by Parent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) a registration rights agreement substantially in the form attached hereto as <u>Exhibit F</u> (the "**Registration Rights Agreement**"), duly executed by Parent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) evidence of issuance of Parent Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Company Deliveries</u>. The Company shall deliver to Parent, at or prior to the Closing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a certificate, dated as of the Closing Date, executed on behalf of the Company by a duly authorized officer of the Company, certifying (A) that each of the conditions set forth in <u>Section 6.03(a)</u> and <u>Section 6.03(c)</u> has been satisfied, (B) the certificate of formation of the Company (the "**Certificate of Formation**") in effect as of immediately prior to the Closing, (C) the operating agreement of the Company (the "**Company Operating Agreement**") in effect as of immediately prior to the Closing, (D) the resolutions of the Company Board approving this Agreement, the Merger and the other Transactions, upon the terms and subject to the conditions set forth herein, in accordance with the DLLCA and the Company Operating Agreement, and that such resolutions have not been rescinded, modified or withdrawn, and (E) the Written Consent and that the Written Consent has not been rescinded, modified or withdrawn;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Certificate of Merger, executed by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) at least three (3) business days prior to the Closing, executed payoff letters or similar instruments with respect to all Closing Debt, which letters provide for the full payoff and discharge of all such Closing Debt, the termination of the commitments thereunder and the release of all guarantees and Liens relating to such Closing Debt, together with UCC authorizations or other release or termination documents as may be reasonably required to evidence the satisfaction of such Closing Debt, in each case, in form and substance reasonably satisfactory to Parent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Escrow Agreement, duly executed by the Members' Representative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a certificate of good standing with respect to the Company issued by the Secretary of State of the State of Delaware no earlier than five (5) business days prior to the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) duly executed Option Treatment Agreements or Promised Equity Cancellation Agreements, as applicable, providing for the termination and cancellation at or prior to the Effective Time of Company Options or Promised Equity Grants, as applicable, to purchase at least 85% of the Company Common Shares underlying the sum of (i) all of the outstanding Company Options and (ii) all Promised Equity Grants, in each case, as of immediately prior to the Effective Time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the Contingent Payment Agreement, duly executed by the Consenting Company Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the Registration Rights Agreement, duly executed by the Consenting Company Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) at least five (5) business days prior to the Closing Date, a list of all payments and filings that are due, and all other actions that must be taken within 30 days of the anticipated Closing Date to maintain any issued Patents, pending applications for issuance of Patents, registered Trademarks and applications for registration of Trademarks, in each case, included in the Company Owned IP or with respect to which any Company Registered Intellectual Property the Company Group is obligated to maintain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) copies of termination instruments, in form and substance reasonably satisfactory to Parent, evidencing the termination of the agreements set forth on <u>Schedule 1.07(b)(x)</u>, in each case with no further obligation of any party thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) the Restrictive Covenant Agreements, duly executed by each of the Company Members set forth on <u>Schedule 1.07(b)(xi)</u>.

Section 1.08 <u>Effect on Equity Interests and Company Options</u>. Upon the terms and subject to the conditions set forth herein, at the Effective Time, by virtue of the Merger and without any action on the part of any party hereto, any Equityholder or any other Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Equity Interests of Merger Sub</u>. Each equity interest of Merger Sub issued and outstanding immediately prior to the Effective Time shall cease to be outstanding and shall automatically be converted into and exchanged for one (1) validly issued, fully paid and non-assessable limited liability company interest of the Surviving Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Company Shares</u>. Each Company Share held by a Company Member immediately prior to the Effective Time shall automatically be converted into the right to receive, subject to and in accordance with <u>Section 1.09</u> (including with respect to the withholding of the Adjustment Escrow Amount and any distribution out of the Adjustment Escrow Fund), the portion of the Merger Consideration set forth in the Allocation Schedule. The amount of cash each Company Member is entitled to receive for such Company Shares shall be rounded to the nearest cent and computed after aggregating cash amounts for all Company Shares held by such Company Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Company Options</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each Company Option (whether a Vested Company Option or an Unvested Company Option) that is outstanding and unexercised as of immediately prior to the Closing shall be terminated and canceled at or prior to the Effective Time and shall not be assumed by Parent, and no Company Option shall be substituted with any equivalent option or right to purchase or otherwise acquire any capital stock or other securities of Parent. With respect to each Company Option that is cancelled pursuant to the immediately prior sentence, if the holder of such Company Option has executed and delivered an Option Treatment Agreement to the Company prior to the Closing, then such holder shall be entitled to receive the following in respect of each such cancelled Company Option, subject to and in accordance with <u>Section 1.09</u> (including with respect to the withholding of the Adjustment Escrow Amount and any distribution out of the Adjustment Escrow Fund), (A) the portion of the Closing Cash Consideration set forth on the Allocation Schedule, (B) with respect to the Milestone Payment (as defined in the Contingent Payment Agreement), if any, that is payable on or prior to the fifth (5<sup>th</sup>) anniversary of the Closing Date pursuant to the Contingent Payment Agreement, the portion of the Milestone Payment payable to such holder as set forth on the Allocation Schedule, which shall be paid in cash pursuant to the terms and conditions set forth in the Contingent Payment Agreement, (C) with respect to each Net Sales Payment (as defined in the Contingent Payment Agreement), if any, that is payable on or prior to the fifth (5<sup>th</sup>) anniversary of the Closing Date pursuant to the Contingent Payment Agreement, the portion of the Net Sales Payment payable to such holder as set forth on the Allocation Schedule, which shall be paid in cash pursuant to the terms and conditions set forth in the Contingent Payment Agreement, and (D) any amounts payable to such holder pursuant to the Equity Value Recognition Bonus Plan, if any, in cash pursuant to the terms of the Equity Value Recognition Bonus Plan. For the avoidance of doubt, the vesting of any Unvested Company Option that is outstanding and unexercised as of immediately prior to the Closing and that is held by a holder of Company Options who is employed by the Company as of immediately prior to the Effective Time (and had not given notice of intent to terminate employment with the Company) shall be automatically accelerated in full effective as of immediately prior to the Closing in order to give effect to this <u>Section 1.08(c)(i)</u>. In no event shall amounts related to Milestone Payments or Net Sales Payments be paid to any Company Optionholder more than five (5) years following the Closing Date. For the avoidance of doubt, in the event that the holder of a Company Option (whether a Vested Company Option or an Unvested Company Option) that is outstanding and unexercised as of immediately prior to the Closing fails to execute and deliver an Option Treatment Agreement to the Company prior to the Closing, such holder shall have no rights to any payments or other consideration of the Company Options forfeited pursuant to this <u>Section 1.08(c)(i)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Company Board (or, if appropriate, any committee administering the Company Equity Plan) shall adopt resolutions or take such other actions (including obtaining any required consents or delivering any required notices) as may be required to effect the transactions described in this <u>Section 1.08(c)</u> as of the Effective Time; <u>provided</u> that in no event shall any such action involve the payment or commitment to pay any additional amounts or the incurrence of any additional liabilities other than payment of the consideration set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Company shall terminate the Company Equity Plan as of the Effective Time and ensure that from and after the Effective Time there are no outstanding rights to acquire any Company Shares pursuant to the Company Equity Plan. The Company shall provide to Parent, at least ten (10) business days prior to the Closing, copies of all documentation evidencing satisfactory completion of the actions necessary and appropriate to effectuate the actions contemplated by this <u>Section 1.08(c)</u> and will accept all reasonable comments to such documentation as proposed by Parent.

Section 1.09 <u>Payment of Merger Consideration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Parent Payments and Deposits</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) No later than the Effective Time, subject to <u>Section 1.09(b)</u>, (A) Parent shall pay (or cause to be paid) to each Equityholder such Equityholder's allocable portion (as set forth on the Allocation Schedule) of the Closing Cash Consideration (less any Compensation Payments to be paid pursuant to ***‎***<u>Section 1.08(c)(i)(A)</u>) in United States dollars by wire transfer of immediately available funds (to such account as may be indicated by such Equityholder prior to Closing) and (B) Parent shall issue to each Consenting Company Member such Consenting Company Member's allocable portion (as set forth on the Allocation Schedule) of a number of Parent Shares equal to the Parent Share Amount in the aggregate (the "**Closing Share Consideration**"); <u>provided</u> that, at any time prior to the Closing Date, a Consenting Company Member may elect, by written notice to Parent, to receive, in lieu of any of the Parent Shares it is so entitled to receive, a Closing Share Warrant exercisable for such number of Parent Shares (in which case, such Closing Share Warrant and the Parent Shares issuable upon exercise thereof, shall constitute part of the Closing Share Consideration).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) No later than the Effective Time, Parent shall deposit (or cause to be deposited) with the Escrow Agent the Adjustment Escrow Amount in United States dollars by wire transfer of immediately available funds to the account designated in writing to Parent by the Escrow Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) No later than the Effective Time, Parent shall deposit (or cause to be deposited) with the Members' Representative the Members' Representative Reserve in United States dollars by wire transfer of immediately available funds to the account designated in writing to Parent by the Members' Representative (such designation to be made at least three (3) business days prior to the Closing Date and set forth in the Spreadsheet).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) No later than the Effective Time, Parent shall pay (or cause to be paid) the aggregate amount of unpaid Transaction Expenses as set forth in the Spreadsheet for remittance to the eligible payees in the amounts set forth in the Spreadsheet in accordance with invoices and wire instructions delivered to Parent at least two (2) business days prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) As additional Merger Consideration, Parent shall make the contingent payments required under the Contingent Payment Agreement to the Company Members in accordance with the terms of the Contingent Payment Agreement. Within ten (10) business days of the date such Company Optionholder becomes entitled to such payment pursuant to Section 1.09(c)(i)(B), Section 1.09(c)(i)(C) or Section 1.09(c)(i)(D), Parent will pay (or cause to be paid) such amounts to each such Company Optionholder through Parent's or the Surviving Company's payroll systems.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Compensation Payments</u>. Notwithstanding anything to the contrary in this Agreement, solely to the extent the payment of any portion of the consideration payable to Company Optionholders (including terminated employees) is compensation with respect to which Parent or its affiliates (including the Surviving Company) is required to deduct or withhold any Taxes pursuant to applicable Law or to report such payments on a Form W-2 (such payments, "**Compensation Payments**"), Parent will pay (or cause to be paid) such amounts to each such Company Optionholder through Parent's or the Surviving Company's payroll systems within ten (10) business days of the date such Company Optionholder becomes entitled to such payment pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Adjustment Escrow Fund.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) By virtue of this Agreement and as security for the Shortfall Payment (if any), on the Closing Date, Parent shall withhold from the consideration otherwise payable to the Equityholders and will deposit with Citibank, N.A., as escrow agent (the "**Escrow Agent**"), the Adjustment Escrow Amount (any and all of such deposits to constitute escrow funds to be governed by the terms of the Escrow Agreement, in the form attached hereto as <u>Exhibit G</u> (the "**Escrow Agreement**")), without any act of the Equityholders. Parent shall be deemed to have contributed with respect to each Equityholder its allocable portion (as set forth on the Allocation Schedule) of the Adjustment Escrow Amount to the Adjustment Escrow Fund, rounded to the nearest cent ($0.01) (with amounts greater than or equal to $0.005 rounded up). Amounts released from the Adjustment Escrow Fund to the Equityholders shall be distributed to the Equityholders in accordance with their respective allocable portion (as set forth on the Allocation Schedule) and the applicable terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Adjustment Escrow Amount plus any interest or earnings paid thereon in accordance with the Escrow Agreement (the "**Adjustment Escrow Fund**") shall be governed by <u>Section 1.10</u> and the terms of the Escrow Agreement and shall secure Parent's right to receive the Shortfall Payment (if any).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Adjustments</u>. If, between the Agreement Date and the Effective Time, the outstanding Company Shares are changed into a different number or class of shares by reason of any membership interest split, division or subdivision of shares, dividend, reverse stock split, consolidation of shares, reclassification, recapitalization or other similar transaction, then the Merger Consideration shall be appropriately adjusted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>No Further Ownership Rights in Company Shares or Company Options</u>. The applicable portion of the Merger Consideration paid or payable as a result of the conversion of the Company Shares and Company Options in accordance with this Agreement shall be paid or payable in full satisfaction of all rights pertaining to the Company Shares and Company Options, and there shall be no further registration of transfers on the records of the Surviving Company of Company Shares or Company Options that were issued and outstanding immediately prior to the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Withholding Rights</u>. Each of the Company, the Surviving Company, Parent, the Escrow Agent, any of their respective agents and any other applicable withholding agent shall be entitled to deduct and withhold from the amounts otherwise payable pursuant to this Agreement, including to any former holder of Company Shares or Company Options, such amounts as are required to be deducted and withheld with respect to the making of such payment under the Internal Revenue Code of 1986, as amended (the "**Code**"), or under any provision of state, local or foreign Tax Law. The Company, the Surviving Company, Parent, any of their respective agents and any other applicable withholding agent shall reasonably cooperate with the recipient of such payment to reduce or eliminate any such required withholding, including providing advance notice that it intends to make such deduction or withholding and the basis therefor. The Company, the Surviving Company, Parent, any of their respective agents and any other applicable withholding agent shall promptly pay over the amount deducted and withheld to the appropriate Tax Authority. Any such Taxes that are so deducted or withheld and timely paid over to the appropriate Tax Authority shall be treated for all purposes of this Agreement as having been paid to the Person in respect of which such deduction or withholding was made. Notwithstanding the foregoing, no amount shall be deducted or withheld from any payments of Merger Consideration made to a Consenting Company Member which has provided a completed and executed IRS Form W-9 other than (i) amounts that are required by Law to be treated as compensatory, or (ii) amounts required to be withheld due to a change in Law after the date hereof.

Section 1.10 <u>Post-Closing Adjustment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Within seventy-five (75) days after the Closing Date, Parent shall prepare and deliver, or cause to be prepared and delivered, to the Members' Representative a statement (the "**Closing Statement**"), setting forth its good faith determination of the amount of Company Cash, Company Debt, Working Capital, Transaction Expenses and, based on the foregoing, Parent's proposed Adjusted Closing Cash Consideration. The Closing Statement shall be based solely on (i) facts and circumstance as they exist on or prior to the Closing and (ii) shall not include, reflect, or be based on, in any respect: (A) any of the plans, transactions or changes which Parent intends to initiate or make, or cause to be initiated or made, after the Closing with respect to the Surviving Company or its businesses or assets, (B) the effect of any decision by the Surviving Company or Parent, or event occurring, on or after the Closing, (C) purchase accounting adjustments or other adjustments arising from or resulting as a consequence of the transactions contemplated by this Agreement or (D) the introduction of any rules, guidelines, methods, policies, principles, practices, procedures, classifications or estimation methodologies different from those set forth in the Working Capital Principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Members' Representative may object to Parent's calculation of the Company Cash, Company Debt, Working Capital, Transaction Expenses and, based on the foregoing, Parent's proposed Adjusted Closing Cash Consideration set forth in the Closing Statement by providing written notice of such objection (the "**Notice of Objection**") to Parent within thirty (30) days after Parent's delivery of the Closing Statement (such 30-day period, the "**Objection Period**"). Such Notice of Objection shall specify in reasonable detail each item that the Members' Representative disputes (each, a "**Disputed Item**"), the amount in dispute for each such Disputed Item and the reasons supporting the Members' Representative's objection. The Members' Representative shall be deemed to have agreed with all other items and amounts contained in the Closing Statement not so disputed by the Members' Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Members' Representative provides a Notice of Objection to Parent within the Objection Period, the Members' Representative and Parent shall, during the 30-day period following Parent's receipt of the Notice of Objection (such 30-day period, the "**Resolution Period**"), attempt in good faith to resolve each Disputed Item. If the Members' Representative and Parent are unable to resolve all of the Disputed Items within the Resolution Period (the "**Unresolved Items**"), the Unresolved Items shall be submitted to a nationally recognized independent valuation, accounting or specialty firm to be mutually agreed upon by the Members' Representative and Parent (such agreed firm being the "**Independent Expert**"); <u>provided</u> that, if the Members' Representative and Parent are unable to so agree within ten (10) days after the end of the Resolution Period, then Parent and the Members' Representative shall each select a firm and such firms shall jointly select a third nationally recognized valuation or accounting firm to resolve the Unresolved Items. The Independent Expert shall be engaged pursuant to an engagement letter among the Members' Representative, Parent and the Independent Expert containing customary confidentiality terms and otherwise on terms and conditions consistent with this <u>Section 1.10(c)</u>. The Independent Expert shall be instructed, pursuant to such engagement letter, to resolve only the Unresolved Items and not to otherwise investigate any matter independently. The Members' Representative and Parent each agree to furnish to the Independent Expert access, except as required by Law, to such individuals and such information, books and records as may be reasonably requested by the Independent Expert to make its final determination (and any such information, books and records shall be provided to the other such party prior to its submission or presentation to the Independent Expert). The Members' Representative and Parent shall also instruct the Independent Expert to render its reasoned written decision as promptly as practicable but in no event later than thirty (30) days from the date that information related to the Unresolved Items is presented to the Independent Expert by the Members' Representative and Parent; <u>provided</u> that if either the Members' Representative or Parent fails to present requested information or furnish access to the Independent Expert within the time reasonably determined by the Independent Expert, then the Independent Expert shall render its decision based solely on the information actually presented and access actually furnished to it by the Members' Representative and Parent. With respect to each Unresolved Item, such decision shall be made based on the terms and conditions of this Agreement and, if not in accordance with the position of either the Members' Representative or Parent, shall not be in excess of the higher, nor less than the lower, of the amounts advocated by Parent in the Closing Statement or the Members' Representative in the Notice of Objection with respect to such Unresolved Item. Except as the Members' Representative and Parent may otherwise agree, all communications related to the Transactions between the Members' Representative or Parent or any of their respective Representatives, on the one hand, and the Independent Expert, on the other hand, shall be in writing with copies simultaneously delivered to the other such party. The resolution of Unresolved Items by the Independent Expert shall be final, binding and conclusive on the parties hereto (absent manifest error). All fees and expenses of the Independent Expert shall be borne on a proportionate basis by Parent, on the one hand, and the Members' Representative (on behalf of the Equityholders), on the other hand, based on the percentage that the portion of the contested amount not awarded in favor of Parent or the Members' Representative bears to the amount actually contested by such Person. For example, if Parent's calculations would have resulted in a $100,000 net payment to Parent, and the Members' Representative's calculations would have resulted in a $100,000 net payment to the Equityholders and the Independent Expert's final determination as adopted pursuant to this <u>Section 1.10(c)</u> results in an aggregate net payment of $50,000 to the Equityholders, then Parent, on the one hand, and the Members' Representative (on behalf of the Equityholders), on the other hand, shall pay 75% and 25%, respectively, of such fees and expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each party hereto shall use its commercially reasonable efforts to provide promptly to the other party all information, books and records and reasonable access to Representatives as such other party shall reasonably request in connection with review of the Closing Statement or the Notice of Objection, as the case may be, including all work papers of the accountants who audited, compiled or reviewed such statements or notices (subject to execution of customary work access paper letters if requested by such other party's auditors), and shall otherwise cooperate in good faith with such other party to arrive at a final determination of the Closing Statement, except as required by Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If the Adjusted Closing Cash Consideration exceeds the Closing Cash Consideration (such excess, the "**Excess Payment**"), then, within five (5) business days after the date on which the Closing Statement is finalized pursuant to this <u>Section 1.10</u>, the Members' Representative, acting on behalf of the Equityholders, and Parent shall deliver joint written instructions to the Escrow Agent instructing the Escrow Agent to, subject to <u>Section 1.09(b)</u>, pay (or cause to be paid) to each Equityholder from the Adjustment Escrow Amount such Equityholder's allocable portion (as set forth on the Allocation Schedule) of the Adjustment Escrow Fund, and Parent will, subject to <u>Section 1.09(b)</u>, pay (or cause to be paid) in United States dollars by wire transfer of immediately available funds to each Equityholder such Equityholder's allocable portion (as set forth on the Allocation Schedule) of the Excess Payment; <u>provided</u> that, if the aggregate Excess Payment is less than $50,000, then the Excess Payment shall be deemed to be $0. In no event shall Parent be liable under this <u>Section 1.10</u> for any amount in excess of the Adjustment Escrow Amount, which shall represent each Equityholder's sole and exclusive recourse with respect to the Closing Cash Consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If the Closing Cash Consideration exceeds the Adjusted Closing Cash Consideration (such amount, the "**Shortfall Payment**"), then, within five (5) business days after the date on which the Closing Statement is finalized pursuant to this <u>Section 1.10</u>, the Members' Representative, acting on behalf of the Equityholders, and Parent shall deliver joint written instructions to the Escrow Agent instructing the Escrow Agent to release to Parent (by wire transfer to an account designated in writing by Parent) from the Adjustment Escrow Amount the Shortfall Payment and to, subject to <u>Section 1.09(b)</u>, pay (or cause to be paid) to each Equityholder from the Adjustment Escrow Amount such Equityholder's allocable portion (as set forth on the Allocation Schedule) of the funds remaining in the Adjustment Escrow Amount; <u>provided</u> that, if the Shortfall Payment is less than $50,000, then the Shortfall Payment shall be deemed to be $0. In no event shall the Equityholders be liable under this <u>Section 1.10</u> for any amount in excess of the Adjustment Escrow Amount, which shall represent Parent's sole and exclusive recourse with respect to the Closing Cash Consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) For Tax purposes, any payment pursuant to <u>Section 1.10(e)</u> or <u>Section 1.10(f)</u> shall be treated as an adjustment to the Merger Consideration to the maximum extent permitted by applicable Law.

Section 1.11 <u>Tax Consequences</u>. Neither Parent nor Merger Sub makes any representations or warranties to any member of the Company Group or to any Equityholder regarding the Tax treatment of the Merger, or any of the Tax consequences to any member of the Company Group or any Equityholder of this Agreement, the Merger or the other Transactions or the other agreements contemplated by this Agreement. The Company acknowledges that the Company Group and the Equityholders are relying solely on their own Tax advisors in connection with the Tax consequences of this Agreement, the Merger and the other Transactions and the other agreements contemplated by this Agreement.

Section 1.12 <u>Taking of Necessary Action; Further Action</u>. If, at any time after the Closing, any further action is necessary or desirable to carry out the purposes of this Agreement and to vest the Surviving Company with full right, title and interest in, to and under, and/or possession of, all assets, property, rights, privileges, powers and franchises of the Company, the officers and directors of the Surviving Company are fully authorized, in the name and on behalf of the Company or otherwise, to take all lawful action necessary or desirable to accomplish such purpose or acts, so long as such action is not inconsistent with this Agreement.

Section 1.13 <u>Members' Representative</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Appointment; Authority</u>. By approving the Merger and by receiving the benefits thereof, including any consideration payable hereunder, each Equityholder irrevocably approves the constitution and appointment of, and hereby irrevocably constitutes and appoints Deerfield Private Design Fund IV, L.P., a Delaware limited partnership, as of the Closing, as the sole, exclusive, true and lawful agent, representative and attorney-in-fact of all of the Equityholders and each of them with respect to any and all matters relating to, arising out of, or in connection with, this Agreement or any Ancillary Agreement, including (i) to execute and deliver this Agreement and all amendments, waivers, Ancillary Agreements, certificates and documents that the Members' Representative deems necessary or appropriate in connection with the consummation of the transactions contemplated by this Agreement and any Ancillary Agreements, (ii) to do or refrain from doing any further act or deed on behalf of the Equityholders that the Members' Representative deems necessary or appropriate in its sole discretion relating to the subject matter of this Agreement or any Ancillary Agreement as fully and completely as the Equityholders could do if personally present, (iii) to comply with Judgments and awards of arbitrators related thereto, (iv) to discuss, negotiate, resolve and fully and finally settle on behalf of the Equityholders any matters relating to Taxes pursuant to <u>Section 5.11</u>, (v) to take any action, including litigating, defending or enforcing any actions, and to make, deliver and sign any certificate, notice, consent or instrument required or permitted to be made or delivered under this Agreement or any Ancillary Agreement (an "**Instrument**") which the Members' Representative determines in its sole and absolute discretion to be necessary, appropriate or desirable in connection therewith, (vi) to incur and pay expenses on behalf of the Equityholders and to hire or retain, at the sole expense of the Equityholders, such counsel, investment bankers, accountants, representatives and other professional advisors as it determines in its sole and absolute discretion to be necessary, advisable or appropriate in order to carry out and perform its rights and obligations hereunder, (vii) to give and receive all documents, certificates and notices and make all determinations on behalf of the Equityholders required under this Agreement and any Ancillary Agreements, (viii) to receive service of process in connection with any claims under this Agreement and any Ancillary Agreements hereto, (ix) to discuss, negotiate, resolve and fully and finally settle on behalf of the Equityholders any matters relating to the Contingent Payment Agreement and (x) take any and all actions relating to the administration of any Additional Consideration, including the initiation, defense and/or settlement of any disputes relating to any Additional Consideration. Notwithstanding the foregoing, the Members' Representative shall have no obligation to act on behalf of the Equityholders, except as expressly provided herein, and for purposes of clarity, there are no obligations of the Members' Representative in any other Ancillary Agreement, schedule or exhibit hereto or thereto or the Company Disclosure Letter. All actions, notices, instructions, communications and determinations of the Members' Representative shall conclusively be deemed to have been authorized by, and shall be binding upon, each Equityholder and such Equityholder's successors as if expressly confirmed and ratified in writing by such Equityholder, and all defenses which may be available to any Equityholder to object, dissent, protest or otherwise contest any action of the Members' Representative taken in good faith under this Agreement or any Ancillary Agreement are waived. The Members' Representative is authorized to act on behalf of the Equityholders notwithstanding any dispute among the Equityholders. Any party hereto or its affiliates receiving an Instrument from the Members' Representative shall have the right to rely in good faith upon such Instrument, and to act in accordance with the Instrument without independent investigation. The Members' Representative shall be entitled to: (A) rely upon the Spreadsheet, (B) rely upon any signature it reasonably believes to be genuine, and (C) reasonably assume that a signatory has proper authorization to sign on behalf of the applicable Equityholder or other party. The Equityholders hereby authorize the Members' Representative to use and disclose their personal information in connection with and for purposes consistent with the Members' Representative's appointment hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Liability of Members' Representative or Parent</u>. Neither the Members' Representative nor its members, managers, directors, officers, contractors, agents or employees (collectively, the "**Members' Representative Group**") shall be liable in connection with its services pursuant to this Agreement or any Ancillary Agreement. The Members' Representative Group shall not be liable for any action or omission pursuant to the advice of counsel. Each of Parent, the Surviving Company, each member of the Company Group and each of their respective affiliates and Representatives may rely entirely and conclusively, without further inquiry, on its dealings with, and notices to and from, the Members' Representative to satisfy any obligations it may have under this Agreement or otherwise to the Equityholders. Neither Parent nor Merger Sub shall have any liability to any Equityholder or any other Person for any action taken by the Members' Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Indemnity; Costs and Expenses</u>. The Equityholders shall indemnify the Members' Representative against any reasonable, documented, and out-of-pocket losses, liabilities and expenses ("**Members' Representative's Costs**") arising out of or in connection with this Agreement and any related agreements, in each case as such Members' Representative's Cost is suffered or incurred; <u>provided</u> that in the event that any such Members' Representative's Cost is finally adjudicated to have been caused by the bad faith or fraud of the Members' Representative, the Members' Representative will reimburse the Equityholders the amount of such indemnified Members' Representative's Cost to the extent attributable to such bad faith or fraud. Members' Representative's Costs may be recovered by the Members' Representative from (i) the funds in the Members' Representative Reserve and (ii) any other funds that become payable to the Equityholders under this Agreement at such time as such amounts would otherwise be distributable to the Equityholders; <u>provided</u> that while the Members' Representative may be paid from the aforementioned sources of funds, this does not relieve the Equityholders from their obligation to promptly pay such Members' Representative's Costs as they are suffered or incurred. In no event will the Members' Representative be required to advance its own funds on behalf of the Equityholders or otherwise. Notwithstanding anything in this Agreement to the contrary, any restrictions or limitations on liability or indemnification obligations of, or provisions limiting the recourse against non-parties otherwise applicable to, the Equityholders set forth elsewhere in this Agreement are not intended to be applicable to the indemnities provided to the Members' Representative hereunder. The foregoing indemnities will survive the Closing, the resignation or removal of the Members' Representative or the termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Members' Representative Reserve</u>. The Members' Representative Reserve shall be maintained by the Members' Representative in a segregated account. The Members' Representative will hold these funds separate from its corporate funds, will not use these funds for its operating expenses or any other corporate purposes and will not voluntarily make these funds available to its creditors in the event of bankruptcy. The Members' Representative Reserve shall be used for the purposes of paying directly or reimbursing the Members' Representative for any expenses incurred by the Members' Representative pursuant to this Agreement or any Ancillary Agreement. The Equityholders shall not receive interest or other earnings on the Members' Representative Reserve and the Equityholders irrevocably transfer and assign to the Members' Representative any ownership right that they may have in any interest or earnings that may accrue on funds held in the Members' Representative Reserve. The Members' Representative is not acting as a withholding agent or in any similar capacity in connection with the Members' Representative Reserve and has no tax reporting or income distribution obligations. The Equityholders acknowledge that the Members' Representative is not providing any investment supervision, recommendations or advice. The Members' Representative shall have no responsibility or liability for any loss of principal of the Members' Representative Reserve other than as a result of its bad faith or fraud. The Members' Representative may contribute funds to the Members' Representative Reserve from any consideration otherwise distributable to the Equityholders. For Tax purposes, the Members' Representative Reserve shall be treated as having been received and voluntarily set aside by the Equityholders at the time of Closing. Upon the reasonable determination of the Members' Representative that the Members' Representative Reserve is no longer required to be withheld, the Members' Representative shall deliver (solely out of the Members' Representative Reserve) the amount remaining in the Members' Representative Reserve, if any, (after payment of all of the Members' Representative's Costs) to the Equityholders, in the case of the portion of such amount remaining in the Members' Representative Reserve to be paid to applicable Equityholders, for payment to such Equityholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Representations and Warranties of the Members' Representative</u>. The Members' Representative represents and warrants to the each of the Company, Parent and Merger Sub that (i) it has all requisite power and authority to execute and deliver this Agreement and to perform its obligations hereunder, (ii) the execution and delivery by the Members' Representative of this Agreement has been duly authorized by all necessary limited liability company action and no other proceedings are necessary to authorize the execution and delivery of this Agreement, and (iii) this Agreement has been duly executed and delivered by the Members' Representative and, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal and binding obligation of the Members' Representative in accordance with its terms, except as enforcement may be limited by the Bankruptcy, Equity and Indemnity Exception (subject to the laws of agency).

Section 1.14 <u>Letter of Transmittal</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On the Closing Date, to the extent not previously made available, the Company will deliver or cause to be delivered to each Company Member, a letter of transmittal substantially in the form attached hereto as <u>Exhibit H</u> (the "**Letter of Transmittal**"). Any Letter of Transmittal received prior to the Closing shall be deemed effective immediately following the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding anything to the contrary in this Agreement, except as may be required pursuant to Law, no payments shall be made hereunder to any Company Member unless and until such Person has delivered to Parent (i) a duly executed Letter of Transmittal and (ii) an executed Form W-9 (collectively, the "**LOT Documents**"). For the avoidance of doubt, any Company Member who delivers the LOT Documents in accordance with this <u>Section 1.14</u> prior to the Closing shall receive the amounts payable to such Person at the Closing.

Section 1.15 <u>Reliance on Allocation Schedule</u>. The parties agree that Parent, Merger Sub, the Surviving Company and the Members' Representative shall be entitled to rely on the Allocation Schedule in making payments under this Agreement and shall not be responsible for, and shall have no liability to any Person for any liabilities with respect to, the calculations or the determinations regarding such calculations in such Allocation Schedule or updated Allocation Schedule, and all obligations to make such payments shall be deemed fulfilled to the extent such payments are made in accordance with the Allocation Schedule or any updated Allocation Schedule. Payment of all amounts payable by or on behalf of Parent as set forth in the Allocation Schedule (or any updated Allocation Schedule) shall be deemed to constitute payment by Parent to each of the Equityholders in accordance with the terms of this Agreement and satisfaction of Parent's obligation to pay such amounts under this Agreement. In the event of any error or omission in the Allocation Schedule (or any updated Allocation Schedule) or dispute regarding any payments made in accordance therewith, each Equityholder shall look only to the other Equityholders (and not to the Surviving Company or Parent) for payment and, subject to Parent's obligation to pay the Merger Consideration under <u>Section 1.09(a)</u>, hereby waives any claim, action or proceeding against the Surviving Company or Parent with respect thereto (or any right to assert such claim, action or proceeding) and forever discharges Parent and the Surviving Company from any liabilities in connection therewith or resulting therefrom. Each Equityholder shall, severally and not jointly, indemnify and hold harmless Parent and the Surviving Company for its pro rata share of any liabilities arising out of, or resulting from, any errors or omissions in the Allocation Schedule or any calculation set forth therein or payments made in accordance therewith. No error in or omission from the Allocation Schedule shall effect the finality of the Closing.

**ARTICLE II<br> REPRESENTATIONS AND WARRANTIES OF THE COMPANY**

Except as set forth in the letter, dated as of the Agreement Date, from the Company to Parent and Merger Sub (which shall be arranged in numbered and lettered sections corresponding to the numbered and lettered sections contained in this <u>Article ‎‎II</u>, and the disclosure in any section thereof shall be deemed to qualify the representations and warranties of the Company in the corresponding section of this <u>Article ‎II</u>, and any other representations and warranties of the Company in this <u>Article ‎II</u> to the extent that it is reasonably apparent on its face that such disclosure also qualifies or applies to such other representations and warranties) (the "**Company Disclosure Letter**"), the Company represents and warrants to Parent and Merger Sub as of the date hereof and as of the Closing Date (except to the extent a representation or warranty is expressly made only as of an earlier date, in which case as of such earlier date):

Section 2.01 <u>Organization, Standing and Power</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company is duly organized, validly existing and in good standing under the laws of the State of Delaware. The Company has all requisite power and authority necessary to enable it to own, lease or otherwise hold its properties and assets and to conduct its business as presently conducted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company is duly qualified or licensed to do business in each jurisdiction, and is in good standing under the laws of all jurisdictions, where the nature of its business or its ownership or leasing of its properties makes such qualification or licensing necessary, other than where the failure to have such power and authority or to be so qualified or licensed is not, and would not reasonably be expected to be, individually or in the aggregate, material to the Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company has made available to Parent the Certificate of Formation, as amended to the Agreement Date, and the Company Operating Agreement, as amended to the Agreement Date, which organizational documents are in full force and effect. The Company is not in violation of any of the provisions of the Certificate of Formation and is not in violation of any of the provisions of the Company Operating Agreement.

Section 2.02 <u>Capital Structure</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The authorized membership interests of the Company consist of (i) 50,000,000 Company Preferred Shares and (ii) 8,825,000 Company Common Shares. As of the Agreement Date, a total (i) 50,000,000 Company Preferred Shares and (ii) no Company Common Shares are issued and outstanding. As of the Agreement Date, the Company has reserved 8,825,000 Company Common Shares for issuance under the Company Equity Plan, as to which Company Options to purchase an aggregate of 8,338,000 Company Common Shares are outstanding and 487,000 Company Common Shares remain available for future grants. There are no other issued and outstanding membership interests or other securities of the Company and no outstanding commitments or Contracts to issue any Company Shares or other securities of the Company other than pursuant to the exercise of outstanding Company Options under the Company Equity Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All outstanding Company Shares are, and all such membership interests that may be issued prior to the Effective Time will be when issued, duly authorized, validly issued, fully paid and nonassessable and not subject to preemptive rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Section **‎**2.02(c) of the Company Disclosure Letter sets forth a true and complete list of all outstanding Company Options as of the Agreement Date, indicating for each: (i) the name of the holder thereof, (ii) the date of grant, (iii) the expiration date, (iv) exercise (or strike) price, (v) the plan pursuant to which such Company Option was granted, (vi) the number of Company Common Shares subject thereto, (vii) the vesting schedule, (viii) the Tax status of such Company Option under Section 422 of the Code, (ix) whether the holder of such Company Option is a current employee of a member of the Company Group and, for each holder who is not a current employee of a member of the Company Group, whether such holder has ever been an employee of any member of the Company Group, and (x) the holder's state of residence or, for any holder who is not a resident of the United States, country of residence. The Company has made available to Parent complete and accurate copies of all (A) the plans pursuant to which all outstanding Company Options have been issued and (B) forms of agreements evidencing Company Options. Each Company Option was issued in accordance with the terms of the plan under which it was granted and all applicable Laws. With respect to the grant of each Company Option, (i) each such grant was duly authorized no later than the date on which the grant of such grant was by its terms effective (the "**Grant Date**") by all necessary governance action, and the award agreement governing such grant was duly executed and delivered by each party thereto within a reasonable time following the Grant Date, (ii) each grant was made in compliance with all applicable Laws (including all applicable federal, state and local securities Laws) and all of the terms and conditions of the Company Equity Plan and each Company Option has an exercise price that is equal or greater than the fair market value of the underlying Company Common Shares on the applicable Grant Date based on a third-party valuation report that satisfies the requirements of Treasury Regulation Section 1.409A-1(b)(5)(iv)(B)(2)(iii), (iii) each such grant was properly accounted for in accordance with GAAP in the financial statements (including the related notes) of the Company, and (iv) no modifications have been made to any Company Options following the Grant Date. The treatment of Company Options under this Agreement (including, without limitation, pursuant to <u>Section 1.08(c)</u>), complies in all respects with applicable Law and with the terms and conditions of the Company Equity Plan and the applicable Company Option agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) There are no bonds, debentures, notes or other indebtedness of the Company having the right to vote (or convertible into, or exchangeable for, securities having the right to vote) on any matters on which Company Members may vote ("**Voting Company Debt**"). There are no voting trusts, irrevocable proxies or other Contracts or understandings to which the Company, or, to the knowledge of the Company, any Company Member or any Company Optionholder is a party or is bound with respect to the voting or consent of any Company Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except as set forth in <u>Section **‎**2.02(a)</u>, <u>Section **‎**2.02(c)</u> and <u>Section **‎**2.02(f)</u>, there are no options, warrants, convertible or exchangeable securities, membership interest-based performance units or other rights (including conversion rights, preemptive rights, co-sale rights, rights of first refusal or other similar rights) or Contracts to which the Company is a party or by which the Company is bound (i) obligating the Company to issue, grant, deliver or sell, or cause to be issued, granted, delivered or sold, any voting securities or equity interests in, or any security convertible or exchangeable for any voting securities or equity interests in, the Company or any Voting Company Debt, (ii) obligating the Company to issue, grant or enter into any such option, warrant, security, unit, right or Contract or (iii) that give any Person the right to receive any economic or voting interest of a nature accruing to the holders of Company Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) There are no outstanding contractual obligations of the Company to repurchase, redeem or otherwise acquire any equity interests of the Company or options, warrants, convertible or exchangeable securities, membership interest-based performance units or other rights to acquire shares equity interests of the Company, except for (i) the provisions set forth in the Certificate of Formation and Company Operating Agreement, (ii) acquisitions of Company Common Shares in connection with the surrender of Company Common Shares by holders of Company Options in order to pay the exercise price of Company Options, (iii) the withholding of Company Common Shares to satisfy tax obligations with respect to awards granted pursuant to the Company Equity Plan and (iv) the acquisition by the Company of Company Options in connection with the forfeiture of such awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Section 2.02(g) of the Company Disclosure Letter sets forth, a true, correct, and complete list of individuals (each individual, a "**Promised Equity Grantee**") who have been offered an opportunity to receive Company Options or any other equity incentive award (the "**Promised Equity Grants**") under an offer letter from, Contract with or other commitment from the Company (which has not expired, been rescinded or rejected), but who have not been granted such Promised Equity Grants.

Section 2.03 <u>Subsidiaries</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section **‎**2.03(a) of the Company Disclosure Letter sets forth a complete and accurate list of the Company's subsidiaries, indicating for each such subsidiary its jurisdiction of organization and the number or percentage of shares of each class of its capital stock, membership interest, partnership interest, joint venture interest or other equity interest owned by the Company. Except as set forth in Section **‎**2.03(a) of the Company Disclosure Letter, neither the Company nor any of its subsidiaries owns, or has ever owned, directly or indirectly, any capital stock, membership interest, partnership interest, joint venture interest or other equity interest in any other Person or entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of the Company's subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation. Each of the Company's subsidiaries has all requisite power and authority necessary to enable it to own, lease, operate or otherwise hold its properties and assets and to conduct its business as presently conducted. Other than Melinta Subsidiary Corp., none of the Company's subsidiaries owns any material assets or has any material operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each of the Company's subsidiaries is duly qualified or licensed to do business in each jurisdiction, and is in good standing, under the Laws of all jurisdictions where the nature of its business or its ownership or leasing of its properties makes such qualification or licensing necessary, other than where the failure to have such power and authority or to be so qualified or licensed is not, and would not reasonably be expected to be, individually or in the aggregate, material to the Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company has made available to Parent, the organizational documents of each of the Company's subsidiaries, as amended, which organizational documents are in full force and effect. None of the Company's subsidiaries is in violation of any of the provisions of its organizational documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company owns all of the issued and outstanding equity interests of each of its subsidiaries. All of the issued and outstanding equity interests of each of the Company's subsidiaries are duly authorized, validly issued, fully paid and non-assessable. The outstanding equity interests of each of the Company's subsidiaries (i) were not issued in violation of the organizational documents of such subsidiary or any other Contract to which such subsidiary is party or bound, (ii) were not issued in violation of any preemptive rights, call option, right of first refusal or first offer, subscription rights, transfer restrictions or similar rights of any Person, (iii) have been offered, sold and issued in compliance with applicable Law, including securities Laws, and (iv) are free and clear of all Liens (other than transfer restrictions under applicable securities Law). No claim has been made or, to the knowledge of the Company, threatened in writing against any member of the Company Group asserting that any Person other than the Company is the holder or beneficial owner of, or has the right to acquire beneficial ownership of, any equity interest of any of the Company's subsidiaries, or any other voting right in any of the Company's subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Other than the equity interests of the Company's subsidiaries owned by the Company, there are no (i) equity interests of any such Company subsidiary outstanding, (ii) options, warrants, convertible securities, indebtedness or other rights or Contracts relating to any voting rights or equity interests of any such Company subsidiary or pursuant to which any such Company subsidiary is obligated to issue, sell, transfer, purchase, return, redeem or otherwise acquire equity securities of such Company subsidiary or any other Person or to provide funds to, make an investment in, or contribute capital to, any Person, (iii) equity interests of any such Company subsidiary reserved for issuance for any purpose, (iv) agreements pursuant to which registration rights in the equity interests of any of the Company's subsidiaries have been granted, (v) equityholder agreements, whether written or oral, among any current or former equityholders of any of the Company's subsidiaries, (vi) Contracts with respect to the voting or transfer of the equity interests of any of the Company's subsidiaries, (vii) statutory or contractual preemptive rights or rights of first refusal with respect to any equity interests of any of the Company's subsidiaries or (viii) equity interest appreciation, phantom stock, profit participation or similar rights with respect to any of the Company's subsidiaries.

Section 2.04 <u>Authority; Execution and Delivery; Enforceability</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company has all requisite power and authority to enter into this Agreement and the Ancillary Agreements to which it will be a party and to perform its obligations under this Agreement and the Ancillary Agreements to which it will be a party and, subject to obtaining the Company Member Approval, to consummate the Transactions. The execution and delivery by the Company of this Agreement, and the Ancillary Agreements to which it will be a party, the consummation by the Company of the Transactions has been duly authorized by all necessary action on the part of the Company and in accordance the DLLCA. The Company has duly executed and delivered this Agreement and, prior to the Closing, will have duly executed and delivered, and will have caused the Company Subsidiaries to have executed and delivered, as applicable, each Ancillary Agreement to which it will be a party, and, assuming due authorization, execution and delivery by Parent, Merger Sub and the Members' Representative, this Agreement constitutes, and each Ancillary Agreement to which a member of the Company Group will be a party will constitute, its legal, valid and binding obligation, enforceable against such member of the Company Group in accordance with its terms (except insofar as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other Laws of general applicability relating to or affecting the enforcement of creditors' rights and remedies or by general principles of equity (the "**Bankruptcy, Equity and Indemnity Exception**")).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company Board, by resolutions duly adopted (and not thereafter modified, rescinded or withdrawn) by the Company Board, has approved this Agreement, the Merger and the other Transactions, upon the terms and subject to the conditions set forth herein, in accordance with the DLLCA and the Company Operating Agreement. The affirmative vote of the holders of at least a majority of the outstanding Company Preferred Shares is the only vote of the holders of Company Shares necessary to adopt this Agreement and approve the Merger under the Company Operating Agreement, as in effect at the time of such adoption and approval (collectively, the "**Company Member Approval**").

Section 2.05 <u>No Conflicts; Consents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The execution, delivery and performance of its obligations by the Company of this Agreement and each Ancillary Agreement to which it will be a party do not and will not, and the consummation of the Merger and the other Transactions and compliance with the terms hereof and thereof will not, conflict with, or result in any violation of, or default (with or without notice or lapse of time, or both) under, or (except with respect to Company Options in connection with the treatment of such options under <u>Section 1.08(c)</u> of this Agreement) give rise to a right of termination, cancelation or acceleration of any obligation or loss of a benefit under, or result in the creation of any Lien other than any Permitted Lien upon any of the properties or assets of the Company Group, or require any authorization, consent, approval, exemption or other action by or notice to any other third party, under, any provision of (i) the Certificate of Formation, the Company Operating Agreement or the equivalent organizational documents of any of the Company's subsidiaries, (ii) any Material Contract or other material Contract to which any member of the Company Group is a party or (iii) subject to the filings and other matters referred to in this <u>Section **‎**2.05(a)</u>, any judgment, order, injunction or decree of any Governmental Entity ("**Judgment**") or any statute, law (including controlling common law), ordinance, rule, or regulation of any Governmental Entity ("**Law**"), in either case that is applicable to any member of the Company Group or its properties or assets, other than, in the case of clauses (ii) and (iii) above, any such items that are not, and would not reasonably be expected to be, individually or in the aggregate, material to the Company Group and would not reasonably be expected to, individually or in the aggregate, prevent, impair or delay the ability of the Company to perform its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No consent, approval, license, permit, order or authorization ("**Consent**") of, or registration, declaration or filing with, or permit from any Governmental Entity, is required to be obtained or made by or with respect to the Company Group in connection with the execution, delivery and performance of this Agreement or any Ancillary Agreement to which it will be a party, the Merger or the consummation of the other Transactions, other than (i) compliance with and filings under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "**HSR Act**"), (ii) the applicable requirements of antitrust, competition or other similar Laws of jurisdictions other than the United States (collectively, "**Foreign Antitrust Laws**"), each of which is set forth in Section 2.05(b) of the Company Disclosure Letter, (iii) the filing of the Certificate of Merger with the Secretary of State of the State of Delaware and appropriate documents with the relevant authorities of the other jurisdictions in which any member of the Company Group is qualified to do business and (iv) such other items the failure of which to obtain or make would not reasonably be expected to, individually or in the aggregate, prevent, impair or delay in any material respect the ability of the Company to perform its obligations under this Agreement.

Section 2.06 <u>Financial Statements; Undisclosed Liabilities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company has delivered to Parent the consolidated audited financial statements of the Company and its subsidiaries for the fiscal year ended December 31, 2024 and its consolidated unaudited financial statements for the six-month period ended June 30, 2025 (including, in each case, balance sheets, statements of operations and statements of cash flows) (collectively, the "**Financial Statements**"), which are included in Section **‎**2.06(a) of the Company Disclosure Letter. The Financial Statements (i) are derived from and in accordance with the books and records of the Company Group, (ii) were prepared in accordance with generally accepted accounting principles in the United States ("**GAAP**"), except for the absence of footnotes in the unaudited Financial Statements, applied on a consistent basis throughout the periods involved and (iii) fairly present the consolidated financial condition of the Company Group at the dates therein indicated and the consolidated results of operations and cash flows of the Company Group for the periods therein specified (subject, in the case of unaudited interim period financial statements, to normal recurring year-end audit adjustments, none of which individually or in the aggregate are or will be material in amount).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as reflected or reserved against in the consolidated balance sheet of the Company as of June 30, 2025 (the "**Company Balance Sheet**"), no member of the Company Group has any liability or obligation of any nature (whether accrued, absolute, contingent or otherwise) other than (i) liabilities or obligations incurred in the ordinary course of business since the date of the Company Balance Sheet, (ii) liabilities that are executory performance obligations arising under Contracts to which a member of the Company Group is a party (other than to the extent arising from a breach thereof by any member of the Company Group) and (iii) liabilities or obligations incurred in connection with the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company has established and maintains a system of internal accounting controls and processes designed to provide reasonable assurances regarding the reliability of financial reporting and the preparation of financial statements in accordance with GAAP. None of the Company and, to the knowledge of the Company, the Company's independent auditors has identified (i) since January 1, 2020, any significant deficiency or material weakness in the design or operation of internal controls over financial reporting utilized by the Company Group, (ii) any illegal act or fraud, whether or not material, that involves the management or other employees of the Company Group, or any material complaint, allegation, assertion or claim regarding the foregoing, or (iii) improper, wrongful or fraudulent accounting or auditing practices, procedures, methodologies or methods of any member of the Company Group or their respective internal accounting controls or any material inaccuracy in the Financial Statements, or any material complaint, allegation, assertion or claim regarding the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No member of the Company Group has effected, entered into or created any securitization transaction or "off-balance sheet arrangement" (as defined in Item 303(c) or Regulation S-K under the Exchange Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except as set forth in Section 2.06(e) of the Company Disclosure Letter, all of the accounts, accounts receivable, notes and notes receivable of the Company Group (i) are reflected on the books and records of the Company, and represent valid obligations arising from bona fide arm's-length transactions in the ordinary course of business; (ii) are the valid and legally binding obligations of the parties owing such amounts to the Company Group, (iii) to the knowledge of the Company, are collectible in the ordinary course of business without the necessity of commencing any legal proceeding, (iv) to the knowledge of the Company, are not subject to counterclaim or setoff, (v) are not in dispute, nor, to the knowledge of the Company, is there any valid grounds for any such dispute and (vi) the Company has not received any written notice from any obligor thereof challenging the validity or collectability of any such accounts receivable. The reserve on the Financial Statements against the accounts receivable for refunds, warranties and bad debts is adequate and has been calculated in accordance with GAAP and in a manner consistent with past practice. No member of the Company Group has agreed to any credit, deduction, free goods or services, discounts or other deferred price or quantity adjustment with respect to any of accounts receivable of any member of the Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The VAT Refund Amount is collectible in the ordinary course of business and the Company will receive payment of the VAT Refund Amount without the necessity of any further action being taken by the Company.

Section 2.07 <u>Absence of Certain Changes or Events</u>. Since the date of the Company Balance Sheet, (a) there has not been any change, event, condition, development, circumstance, effect or occurrence that has had or would reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect, (b) each member of the Company Group has conducted its business in all material respects in the ordinary course of business in substantially the same manner as previously conducted and (c) no member of the Company Group has taken any action or failed to take any action that would have required Parent's consent under ‎<u>Section 4.01</u> (other than <u>Sections 4.01(c)</u>, <u>4.01(f)</u>, <u>4.01(g)</u> or <u>4.01(r)</u>) had such action or omission occurred during the period from the date hereof to Closing.

Section 2.08 <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each member of the Company Group has (i) timely filed, or caused to be timely filed all income and other material Tax Returns required to have been filed (taking into account any applicable extensions) and all such Tax Returns are true and complete in all material respects and (ii) paid, or caused to be paid, in full on a timely basis all income and other Taxes imposed on or required to be paid by it. There are no Liens on any of the assets, rights or properties of any member of the Company Group with respect to Taxes other than Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (i) No deficiency for any Tax has been asserted or assessed by a Tax Authority in writing against any member of the Company Group which deficiency has not been paid, settled or withdrawn or is not being contested in good faith in appropriate Proceedings and (ii) no audit, examination, investigation, inquiry or other proceeding in respect of any Taxes or Tax Returns of any member of the Company Group has been proposed or threatened in writing. There is no outstanding request for any (i) extension of time within which to pay any Taxes or file any Tax Returns (other than automatic filing extensions granted in the ordinary course), or (ii) waiver or extension of any applicable statute of limitations for the assessment or collection of any Taxes of any member of the Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company is taxable as a corporation for U.S. federal, state and local income tax purposes, and has been so taxable since it filed IRS Form 8832 on December 15, 2020.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each member of the Company Group has complied in all material respects with all applicable Laws relating to the payment, collection, withholding and remittance of Taxes (including information reporting requirements) with respect to payments made to any employee, creditor, independent contractor, equityholder or other third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No member of the Company Group has liability for the Taxes of any other Person pursuant to Treasury Regulations Section 1.1502-6 (or any similar provision of state, local or foreign Law), by reason of having been a member of an affiliated, consolidated, combined, unitary, group relief or similar Tax group, or as a transferee or successor, by contract (other than a contract entered into in the ordinary course of business and not primarily related to Taxes) or otherwise. No member of the Company Group is or has ever been a member of an affiliated group filing a consolidated U.S. federal income Tax Return or any other affiliated, consolidated, combined, unitary, group relief or similar Tax group filing a similar Tax Return, in each case other than a group of which the Company was the common parent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No member of the Company Group has received written notice of any claim made by a Tax Authority in a jurisdiction where such member of the Company Group does not file a Tax Return that the member of the Company Group is subject to taxation by that jurisdiction. No member of the Company Group has extended (which extension remains outstanding), and there are no outstanding requests, agreements, consents or waivers to extend, the statutory period of limitations applicable to the assessment of any Taxes or Tax deficiencies against any member of the Company Group, other than pursuant to automatic extensions of time to file Tax Returns obtained in the ordinary course of business. No member of the Company Group is subject to Tax in any country outside the country of its formation by virtue of having a "permanent establishment" (as defined in the applicable Tax treaty between the U.S. and such jurisdiction) or other fixed place of business in that jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) No member of the Company Group is a party to, bound by or subject to any (i) Tax sharing, Tax allocation or Tax indemnification agreement that would have a continuing effect after the Closing Date (other than tax provisions of agreements with third parties, the primary subject matter of which is not Tax, such as licensing or joint development agreements), (ii) closing agreement within the meaning of Section 7121 of the Code (or any similar provision of state, local or foreign Law), which agreement will be binding on any member of the Company Group, after the Closing Date or (iii) private letter ruling of the IRS or comparable ruling of any Tax Authority. No power of attorney that is currently in force has been granted by any member of the Company Group to any person with respect to any Tax matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Each member of the Company Group uses the accrual method of accounting for U.S. federal, state and local income Tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Within the past two (2) years, no member of the Company Group has been a "distributing corporation" or a "controlled corporation" within the meaning of Section 355(a)(1)(A) of the Code in a distribution intended to qualify for tax-free treatment under Section 355 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) No member of the Company Group has been a party to or participated in a transaction that constitutes a "listed transaction" within the meaning of Section 6707A(c)(2) of the Code and Treasury Regulations Section 1.6011-4(b)(2) (or any similar provision of state or local Law). To the knowledge of the Company, each member of the Company Group has disclosed on its U.S. federal income Tax Returns all positions taken therein which could give rise to a "substantial understatement" of Tax within the meaning of Section 6662(d) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) The Company has not been, and will not be, a United States real property holding company within the meaning of Section 897(c) of the Code during the applicable period specified in Section 897(c)(1)(A)(ii) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) No member of the Company Group will be required to include any amounts of income in, or exclude any item of deduction from, taxable income for any period (or portion thereof) ending after the Closing Date as a result of: (i) a change in method of accounting made prior to the Closing, other than inventory capitalization under Section 263A of the Code (the "**Accounting Method Change**"), (ii) a closing agreement, advance pricing agreement or other agreement with any Tax Authority relating to Taxes entered into prior to the Closing, (iii) an installment sale or open transaction disposition entered into on or prior to the Closing or (iv) any prepaid amount received or deferred revenue accrued prior to the Closing. The Company is not subject to and has no liability pursuant to Section 965 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) No member of the Company Group owns any interest in any entity or arrangement that is treated as a partnership for U.S. federal income tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Each member of the Company Group has collected all material sales and use Taxes and/or has obtained the appropriate exemption certificates to except the collection of any sales Tax that would otherwise be due, and has maintained in all material respects all such records and supporting documents in the manner required by all applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) There is no outstanding request for any (i) extension of time within which to pay any Taxes or file any Tax Returns (other than automatic filing extensions granted in the ordinary course), or (ii) waiver or extension of any applicable statute of limitations for the assessment or collection of any Taxes of any member of the Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) The prices for any property or services (or for the use of any property) provided by or to the members of the Company Group are arm's-length prices for purposes of the applicable transfer pricing Laws including Treasury Regulations promulgated under Section 482 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Each member of the Company Group has complied with all unclaimed property, escheat and similar Law in all material respects and has duly and properly turned over, to the extent required by such Law, all properties, credits and other assets to the appropriate Governmental Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) No member of the Company Group has owned any stock, interests or other equity in a Person not treated as a "United States person" within the meaning of Section 7701(a)(30) of the Code.

Section 2.09 <u>Labor Relations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) There are no collective bargaining or similar labor union agreements to which any member of the Company Group is a party or by which any member of the Company Group is bound, nor is any such agreement being presently negotiated. No employees of the Company Group are represented by any union, works council or other employee representative body with respect to their employment by the Company Group. The Company Group has not experienced any labor disputes, strikes, work stoppages, slowdowns, lockouts or union organization attempts concerning any employees of the Company Group in the prior five (5) years. There is no unfair labor practice charge or complaint or other Proceeding presently pending or, to the knowledge of the Company, threatened against any member of the Company Group before the National Labor Relations Board or any equivalent state or local Governmental Entity. The Company Group is and has been in compliance in all material respects with all applicable Laws relating to labor and employment, including those relating to wages, hours, overtime, collective bargaining, employment discrimination, civil rights, safety and health, workers' compensation, pay equity, classification of employees and independent contractors, and the collection and payment of withholding and/or social security Taxes, benefits, labor and immigration (including, without limitation, the Immigration and Nationality Act, 8 U.S.C. Sections 1101 et seq. and its implementing regulations). Each employee of the Company Group that provides services in the United States is authorized to work in the United States. The Company Group has complied in all material respects with all Laws that could require overtime to be paid to any Company Service Provider, and no Person has in the prior five (5) years brought or, to the knowledge of the Company, threatened to bring a claim for unpaid compensation or employee benefits, including overtime amounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company has made available to Parent a true and complete list (the "**Business Employee List**"), as of the Agreement Date, of (i) the name of each officer and employee of the Company Group, (ii) each other individual service provider who has accepted an offer of employment or services made by the Company Group but whose employment or contract has not yet commenced and (iii) the names of each other individual service provider to whom an offer of employment or service is outstanding by the Company Group, in each case, as of the Agreement Date, together with each such service provider's (A) actual or offered title, (B) date of hire or engagement and years of credited service recognized by the Company as of the Agreement Date, (C) location, (D) status as active or non-active, (E) if applicable, nonimmigrant visa status and/or source of employment authorization (if not a U.S. citizen or lawful permanent authorization), (F) base pay or compensation, (G) bonus target for the current calendar year, (H) leave status and expected return to work date (to the extent applicable), (I) classification as a full-time or part-time employee and (J) employing or engaging entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) All employees are employed on an "at-will" basis (to the extent applicable) and their employment can be terminated at any time for any reason without any material amounts being owed to such individual other than with respect to wages accrued before termination and any amounts required to be paid to such individual pursuant to applicable Law. The relationships with all individuals who act on their own as contractors or as other service providers can be terminated for any reason with no greater than sixty (60) days' prior written notice, without any amounts being owed to such individuals, other than with respect to compensation or payments accrued before the notice of termination. All individuals who perform services for the Company Group and who have been classified as other than employees have been properly classified. Since January 1, 2023, (i) to the knowledge of the Company, no allegations of workplace sexual harassment or illegal retaliation or discrimination have been initiated, filed or threatened against any member of the Company Group or any Company Service Provider, (ii) to the knowledge of the Company, no incidents of any such workplace sexual harassment or illegal retaliation or discrimination have occurred, and (iii) no member of the Company Group has entered into any settlement agreement related to allegations of sexual harassment or illegal retaliation or discrimination by any Company Service Provider.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Since January 1, 2023, the Company Group has not experienced a "plant closing" or "mass layoff" as defined in the WARN Act or any similar state, local or foreign Law or regulation affecting any site of employment of the Company Group, and no member of the Company Group has any liability in respect of any "plant closing" or "mass layoff" as defined in the WARN Act or any similar state, local or foreign Law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To the knowledge of the Company, no current Company Service Provider is a party to, or is otherwise bound by, any agreement or arrangement, including any confidentiality or non-competition agreement, that prohibits or materially adversely affects the performance of such employee's or independent contractor's duties to the Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No member of the Company Group is delinquent in payment to any Company Service Provider for any wages, fees, salaries, commissions, bonuses, or other direct compensation for service performed by them or amounts required to be reimbursed to such Company Service Provider or in payments owed upon any termination of such Company Service Provider's employment or engagement.

Section 2.10 <u>Employee Benefits</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section **‎**2.10(a) of the Company Disclosure Letter sets forth a true and complete list, as of the Agreement Date, of each Company Benefit Plan and Company Benefit Agreement; <u>provided</u>, <u>however</u>, that, in the case of a Company Benefit Agreement that is an offer letter with any Company Group employee that is on the Company's standard form of offer letter and that is "at will" and does not provide any notice or severance entitlements (a "**Form Offer Letter**"), Section **‎**2.10(a) of the Company Disclosure Letter includes the Company's standard form and all offer letters that materially deviate from such form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to each Company Benefit Plan and Company Benefit Agreement listed in Section 2.10(b) of the Company Disclosure Letter, the Company has made available to Parent true and complete copies of (i) such Company Benefit Plan or Company Benefit Agreement, including any amendment thereto (or, in either case, with respect to any unwritten Company Benefit Plan or Company Benefit Agreement, a written description thereof) (<u>provided</u>, <u>however</u>, that, in the case of a Form Offer Letter, the Company has made available to Parent the standard form and all offer letters that deviate from such form), (ii) the current summary plan description and any material modifications thereto, if any, or any written summary provided to participants with respect to any plan for which no summary plan description exists, (iii) the three (3) most recent annual reports on Form 5500 required to be filed with the IRS with respect thereto (if any), (iv) all non-routine correspondence with any Governmental Entity relating to Company Benefit Plan received or sent within the last two (2) years, (v) the most recent written results of all required compliance testing, and (vi) the most recent determination or opinion letter received by any member of the Company Group from the IRS regarding the tax-qualified status of such Company Benefit Plan or Company Benefit Agreement. There has been no amendment to, or announcement by, any member of the Company Group relating to any Company Benefit Plan or Company Benefit Agreement which would increase materially the expense of maintaining such Company Benefit Plan or Company Benefit Agreement above the level of the expense incurred therefor for the most recent fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Company Benefit Plan and Company Benefit Agreement has been established, administered and funded in all material respects in accordance with its terms and is in material compliance with all applicable Laws, including applicable provisions of ERISA and the Code. There are no pending audits or investigations by any Governmental Entity involving any Company Benefit Plan or Company Benefit Agreement and there are no pending or, to the knowledge of the Company, threatened claims (except for individual claims for benefits payable in the normal course of operation), suits or proceedings involving any Company Benefit Plan or Company Benefit Agreement, any fiduciary thereof or any service provider thereto. All payments required to be made by any member of the Company Group under, or with respect to, any Company Benefit Plan or Company Benefit Agreement (including all contributions, distributions, reimbursements, premium payments or intercompany charges) with respect to all prior periods have been timely made or, for any such payments that are not yet due, properly accrued and reflected in the most recent consolidated balance sheet prior to the date hereof, in each case in accordance with the provisions of each of the Company Benefit Plans and Company Benefit Agreements, applicable Law and GAAP. There is not now, nor do any circumstances exist that could give rise to, any requirement for the posting of security with respect to a Company Benefit Plan or Company Benefit Agreement or the imposition of any Lien on the assets of any member of the Company Group under ERISA or the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each Company Benefit Plan intended to be "qualified" within the meaning of Section 401(a) of the Code (i) has received and maintains a current favorable determination letter as to such qualification or registration from the IRS (or any comparable Governmental Entity), or (ii) has been established under a standardized prototype plan for which an opinion letter from the IRS (or any comparable Governmental Entity) has been obtained by the plan sponsor and is valid as to the adopting employer, and, in each case, to the knowledge of the Company, no event has occurred, either by reason of any action or failure to act, that would reasonably be expected to cause the loss of any such qualification, registration or tax-exempt status. No stock or other securities issued by any member of the Company Group forms or has formed any part of the assets of any Company Benefit Plan that is intended to qualify under Section 401(a) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No member of the Company Group nor any Commonly Controlled Entity sponsors, maintains or contributes to or has sponsored, maintained, contributed to or been required to maintain or contribute to, or has any liability under or with respect to, (i) any employee benefit plan that is or was subject to Section 302 or Title IV of ERISA or Section 412 of the Code or is otherwise a defined benefit plan, (ii) any Multiemployer Plan, (iii) a plan that has two (2) or more contributing sponsors, at least two (2) of whom are not under common control, within the meaning of Section 4063 of ERISA, (iv) any "multiple employer plan" (within the meaning of Section 210 of ERISA or Section 413(c) of the Code), (v) any "multiple employer welfare arrangement" (as such term is defined in Section 3(40) of ERISA), or (vi) a plan maintained in connection with any trust described in Section 501(c)(9) of the Code. No member of the Company Group nor any Commonly Controlled Entity has withdrawn at any time within the preceding six (6) years from any Multiemployer Plan, or incurred any withdrawal liability which remains unsatisfied, and no events have occurred and no circumstances exist that could reasonably be expected to result in any such liability to any member of the Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No member of the Company Group has any liability in respect of post-retirement health, medical or life insurance benefits for retired, former or current employees of the Company Group, other than for continuation coverage required under Section 4980B(f) of the Code or any state Laws at the sole expense of the participant. Each Company Benefit Plan and Company Benefit Agreement that is subject to the Affordable Care Act has been established, maintained and administered in material compliance with the requirements of the Affordable Care Act, including all notice and coverage requirements, and the Company Group and all Commonly Controlled Entity offer minimum essential health coverage, satisfying the affordability and minimum value requirements, to their full-time employees (as defined by the Affordable Care Act) sufficient to prevent liability for assessable payments under Section 4980H of the Code. No member of the Company Group has attempted to maintain the grandfathered health plan status under the Affordable Care Act of any Plan. No member of the Company Group has incurred (whether or not assessed), or is reasonably expected to incur or to be subject to, any Tax or other penalty with respect to the reporting requirements under Sections 6055 and 6056 of the Code, as applicable, or under Section 4980B, 4980D or 4980H of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Neither the execution of this Agreement nor the consummation of the Merger or any other Transaction (alone or in conjunction with any other event, including any termination of employment on or following the Effective Time) will (i) entitle any Company Service Provider to any new type of compensation or benefit or any increase in the amount of any compensation or benefit, (ii) accelerate the time of payment or vesting, or trigger any payment or funding, of any compensation or benefit or trigger any other obligation under any Company Benefit Plan or Company Benefit Agreement, (iii) result in any violation of, or default under, any Company Benefit Plan or Company Benefit Agreement, (iv) result in payment or provision of any amount (whether in cash or property or the vesting of property) to any Company Service Provider under any Company Benefit Plan or Company Benefit Agreement, or (v) increase the amount of any compensation or benefits due to any Company Service Provider or with respect to any Company Benefit Plan or Company Benefit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Neither the execution of this Agreement nor the consummation of the Merger or any other Transaction will (alone or in conjunction with any other event, including any termination of employment on or following the Effective Time) result in any payment or benefit (whether in cash or property or the vesting of property) to any "disqualified individual" (as such term is defined in Treasury Regulation Section 1.280G-1) that could, individually or in combination with any other such payment, constitute an "excess parachute payment" (as defined in Section 280G(b)(1) of the Code). No member of the Company Group is a party to any plan, policy, agreement or arrangement that provides for, and no member of the Company Group is otherwise obligated to pay, the gross-up or reimbursement of any Taxes, including Taxes imposed under Section 409A or 4999 of the Code (or any corresponding provisions of state or local Law relating to Tax).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each "nonqualified deferred compensation plan" (as defined in Section 409A(d)(1) of the Code) of any member of the Company Group has been operated in material compliance with Section 409A of the Code, the applicable proposed and final regulations thereunder, and any applicable IRS guidance, in all material respects. No Company Option is subject to Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) With respect to each Company Benefit Plan and Company Benefit Agreement subject to the Laws of any jurisdiction outside of the United States or that cover any Company Service Provider residing or working outside of the United States (each, a "**Foreign Benefit Plan**"), (i) if such Foreign Benefit Plan is intended to qualify for special tax treatment, then such Foreign Benefit Plan meets all requirements for such treatment and, to the knowledge of the Company, there are no existing circumstances or events that have occurred that could reasonably be expected to affect adversely the special tax treatment with respect to such Foreign Benefit Plan, (ii) if such Foreign Benefit Plan is intended to be funded and/or book-reserved, is fully funded and/or book reserved, as appropriate, based upon reasonable actuarial assumptions, and (iii) if such Foreign Benefit Plan is intended or required to be qualified, approved or registered with a Governmental Entity, then such Foreign Benefit Plan is and has been so qualified, approved or registered and nothing has occurred that could reasonably be expected to result in the loss of such qualification, approval or registration, as applicable.

Section 2.11 <u>Property</u>. No member of the Company Group has ever owned any real property or interest in any real property, nor is any member of the Company Group a party to any option or other agreement to purchase any real property or interest therein. Except as would not reasonably be expected to, individually or in the aggregate, result in a material liability to the Company, each member of the Company Group (a) has a good and valid leasehold interest in the real property (including the improvements thereon) leased under each Lease, free and clear of all pledges, liens, charges, mortgages, encumbrances and security interests of any kind or nature whatsoever (collectively, "**Liens**"), except (i) Liens for Taxes that are not due and payable or that may thereafter be paid without interest or penalty, (ii) mechanics', carriers', workmen's, warehousemen's, repairmen's or other like Liens arising or incurred in the ordinary course of business that are not yet due and payable, (iii) zoning, building and other similar codes and regulations and (iv) Permitted Liens, (b) has complied in all material respects with, and, to the knowledge of the Company, each other party has complied in all material respects with, the terms of all Leases, and all such Leases are in full force and effect, subject to the application of any bankruptcy or other creditor's rights laws and (c) is not in breach or default under any such Leases and, to the knowledge of the Company, no other party to such Lease is in breach or default thereof and no event has occurred or circumstance exists which, with the delivery of notice, the passage of time or both, would constitute such a breach or default under such Leases. No member of the Company Group has received or given any notice of default or intention to terminate or not renew any Lease. No member of the Company Group has granted any other Person the right to occupy or use the Leased Real Property and there is no Person other than the member of the Company Group that is the tenant under the applicable Lease in possession of the Leased Real Property that is the subject to the applicable Lease. All buildings, structures, fixtures, building systems and equipment, and all components which are part of the Leased Real Property, are in material compliance with all Law and are in good operating condition in all material respects and in a state of good repair (with the exception of normal wear and tear), and are reasonably adequate and reasonably suitable for the operation of the business being conducted thereon. No portion of any facility, building, improvement or other structure located on any of the Leased Real Property has suffered any material damage by fire or other casualty within the past three (3) years which has not been repaired or restored. There is currently no ongoing construction work in, on, or about any Leased Real Property other than normal, immaterial maintenance and repairs being performed in the ordinary course of business. There is no pending written threat of or, to the knowledge of the Company, oral threat of, condemnation or similar action affecting the Leased Real Property. Use of the Leased Real Property for the various purposes for which it is presently being used in connection with the operation of the business is permitted as of right under applicable zoning and other land use laws and is not subject to "permitted non-conforming" use or structure classifications. The Leased Real Property is suitable for the operation of the Company Group and no other real property is being used, or is otherwise required, to operate the business of the Company Group.

Section 2.12 <u>Material Contracts</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section **‎**2.12(a) of the Company Disclosure Letter sets forth a true and complete list of all Contracts with any third party in effect as of the Agreement Date to which any member of the Company Group is a party of the following categories (each a "**Material Contract**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any Contract (which shall not include any customary engagement letter with outside counsel) for the purchase, sale, license or use of materials, supplies, equipment, services, Software, Intellectual Property or other assets involving in the case of any such Contract with any Person pursuant to which (A) the amounts incurred by any member of the Company Group exceeded $300,000 in calendar year 2024 or are reasonably likely to exceed $300,000 in calendar year 2025 or (B) the payments to any member of the Company Group exceeded $300,000 in calendar year 2024 or are reasonably likely to exceed $300,000 in calendar year 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) each Contract that (A) materially restricts the ability of any member of the Company Group, or Parent or its affiliates following the Closing, to compete in any business or with any Person in any geographical area, excluding any restriction on soliciting, hiring or engaging employees or contractors, (B) requires the Company or its subsidiaries, or Parent or its affiliates following the Closing, to conduct any business on a "most favored nations" basis with any third party in favor of any third party in excess of a value of $500,000 in calendar year 2025 or any calendar year thereafter, (C) requires any member of the Company Group, or Parent and its affiliates following the Closing, to purchase all or substantially all of a certain type of good used by the Company Group from a single vendor or group of related vendors(D) containing covenants restricting or purporting to restrict the Company Group from any solicitation of a customer or (E) obligates any member of the Company Group to purchase or otherwise obtain any product or service exclusively from any third party or sell any product or service exclusively to any third party, except in the case of clauses (A), (B), (C) or (D), other than in the case of Parent and its affiliates, due to the operation of Contracts to which Parent or any of its affiliates is a party prior to the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) each Contract that (A) provides for the grant of an license or covenant not to sue under any material Intellectual Property (I) to any member of the Company Group from any third party or (II) by any member of the Company Group to any third party or (B) provides for the development of any material Intellectual Property by any member of the Company Group for any third party (other than Contracts that assign such Intellectual Property to a member of the Company Group), except, in each case of clauses (A) and (B), for Immaterial IP Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) each Contract with any Governmental Entity that provides for the provision of funding to any member of the Company Group for research and development activities comprising the creation of any Intellectual Property by or on behalf of any member of the Company Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) each Contract pursuant to which the Company has appointed a third party as an exclusive distributor or reseller of any Company Owned Product;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) other than any Company Benefit Agreement or Company Benefit Plan, and any Contract that can be terminated for convenience on notice by the Company, each Contract that provides for recurring annual minimum payments or receipts (other than milestone, royalty or similar payments or other contingent payments) in excess of $500,000 in any calendar years after calendar year 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) each Contract (A) relating to indebtedness for borrowed money or any financial guaranty, letter of credit, indenture, note, swap or similar agreement (B) evidencing, providing for the creation of, or granting any Lien upon any of the property or assets of the Company Group (excluding Permitted Liens), (C) any Contract (I) relating to any loan or advance to any Person which is outstanding as of the date of the Agreement (other than advances to employees and consultants not in excess of in excess of $100,000) or (II) obligating or committing any member of the Company Group to make any such loans or advances and (D) any currency, commodity or other hedging or swap Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) each Contract or group of related Contracts with a single entity or group that provides for the acquisition or disposition of any assets (other than purchases or sales in the ordinary course of business) or any businesses (whether by merger, sale of equity interests, sale of assets or otherwise) that (A) has not yet been consummated or (B) has outstanding any purchase price adjustment, "earn-out," indemnification, payment or similar obligations on the part of any member of the Company Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) each Contract pursuant to which any member of the Company Group has continuing royalty, "earn-out," milestone or similar payment obligations, including upon the achievement of regulatory or commercial milestones, or any obligation to make payment of royalties or other amounts calculated based upon any revenues or income of the Company Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) each Contract that obligates any member of the Company Group to make any capital commitment, loan or capital expenditure in an aggregate amount in excess of $100,000 after the Agreement Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) each Contract, other than with respect to any partnership that is wholly owned by the Company, that relates to the formation, creation, operation, management or control of any legal partnership or any joint venture entity pursuant to which the Company has an obligation (contingent or otherwise) to make a material investment in or material extension of credit to any Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) each material Contract between any member of the Company Group and any Governmental Entity, except for clinical study agreements, material transfer agreements and non-disclosure agreements, in each case, that have been entered into in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) any settlement agreements under which any member of the Company Group has any continuing material obligations (other than confidentiality obligations);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) each equityholders', investors rights', registration rights or similar Contract to which any member of the Company Group is a party (excluding Contracts governing Company Options);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) each Contract (including all amendments, extensions and renewals with respect thereto) pursuant to which any member of the Company Group leases or subleases any real property (each a "**Lease**" and, such real property, the "**Leased Real Property**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) lease or contract under which any member of the Company Group is lessee of or holds or operates, in each case, any tangible property (other than real property), owned by any other Person, except for any lease or contract under which the aggregate annual rental payments do not exceed $100,000; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) lease or contract under which any member of the Company Group is lessor of or permits any third party to hold or operate, in each case, any tangible property (other than real property), owned or controlled by any member of the Company Group, except for any lease or contract under which the aggregate annual rental payments do not exceed $100,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of the Material Contracts is valid, binding and enforceable (except as such enforceability may be limited by the Bankruptcy, Equity and Indemnity Exception and except as such Contracts may be terminated after the Agreement Date not in contravention with <u>Section 4.01</u>) on the Company and, to the knowledge of the Company, each other party thereto, and is in full force and effect, except for such failures to be valid, binding or enforceable or to be in full force and effect as is not, and would not reasonably be expected to be, individually or in the aggregate, material to the Company Group. There is no material default under any Material Contract by the Company or, to the knowledge of the Company, any other party thereto, and no event has occurred that with the lapse of time or the giving of notice or both would constitute a material default thereunder by the Company or, to the knowledge of the Company, any other party thereto. No third party that is a party to any Material Contract has provided written or, to the knowledge of the Company, oral notice to any member of the Company Group of its intent to renegotiate, cancel or terminate (including by not renewing) any Material Contract to which it is a party or to change the parties' relationship thereunder and there are no claims of material breach or default pending or, to the knowledge of the Company, threatened under any Material Contract. The Company has made available to Parent true and complete copies of each Material Contract that is in effect as of the Agreement Date.

Section 2.13 <u>Litigation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As of the Agreement Date, there is no, and since January 1, 2023, there has been no material claim, suit, action, arbitration, audit, inquiry, charge, investigation or proceeding (each, a "**Proceeding**") pending or, to the knowledge of the Company, threatened in writing against any member of the Company Group, nor is there any Judgment outstanding against any member of the Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As of the Agreement Date, there is no Proceeding by the Company Group pending or which the Company Group intends to initiate.

Section 2.14 <u>Compliance with Laws</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) No member of the Company Group has, since January 1, 2023, received any written or, to the knowledge of the Company, oral notices of any violation of any applicable Laws. Each member of the Company Group has, and since January 1, 2023 has had, in effect all approvals, authorizations, certificates, registrations, licenses, exemptions, permits and consents of Governmental Entities (collectively, "**Authorizations**") necessary for it to conduct its business as presently conducted, and all such Authorizations are in full force and effect and no revocation, withdrawal, suspension, cancelation, termination or modification of the Authorizations is pending or, to the knowledge of the Company, threatened in writing. Each member of the Company Group is and has since January 1, 2023, been in material compliance with all Judgments, Laws and Authorizations applicable to its business or operations. This <u>Section **‎**2.14</u> does not relate to Taxes, which are the subject of <u>Section **‎**2.08</u>, employee benefit matters, which are the subject of <u>Section **‎**2.10</u>, or environmental matters, which are the subject of <u>Section **‎‎**2.16</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No member of the Company Group nor, to the knowledge of the Company, any of their respective officers, directors, employees, agents or other Persons acting on behalf of any member of the Company Group has for, or on behalf of, any member of the Company Group: (i) directly or indirectly, used any corporate funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating to foreign or domestic political activity, (ii) made, offered, given, or authorized any direct or indirect unlawful payments or gifts of anything of value to any foreign or domestic official or employee of any Governmental Entity or any foreign or domestic political candidates, parties or campaigns, (iii) violated any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or any other applicable anti-bribery, anti-corruption, anti-money laundering, anti-terrorism, record keeping and internal controls, including but not limited to any such Laws that prohibit private commercial bribery, (iv) made, offered, or authorized any other bribe, payoff, influence payment, kickback or other unlawful payment. Since January 1, 2023, no member of the Company Group has received any written communication that alleges any of the foregoing, and is not, nor has been, under administrative, civil, or criminal investigation, indictment, information, suspension, debarment, or audit (other than a routine contract audit) by any party, in connection with alleged or possible violations of any Law that prohibits bribery, corruption, fraud, or other improper payments or (v) is currently or has been since January 1, 2023: (x) a Sanctioned Person, (y) organized, resident or located in a Sanctioned Country or (z) engaging in any dealings or transactions with any Sanctioned Person or in any Sanctioned Country.

Section 2.15 <u>Regulatory Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) Each member of the Company Group has filed, maintained or furnished with the applicable Regulatory Authorities all required filings, registrations, listings, applications and supplemental applications, reports and other required information with respect to the Company Owned Products with the FDA, Governmental Entity or a Regulatory Authority and (ii) to the knowledge of the Company, each Company Licensor has filed, maintained or furnished with the applicable Regulatory Authorities all required filings, registrations, listings, applications and supplemental applications, reports and other required information with respect to the Company Licensed Products with the FDA. No material deficiencies have been asserted in writing by any Regulatory Authority with respect to required filings, registrations, listings, applications and supplemental applications, reports and other required information submitted to FDA, Governmental Entity, or a Regulatory Authority. The Company has a materially complete documentary record of such submissions, correspondence, contacts, and consultations with FDA and applicable Governmental Entities and Regulatory Authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Since January 1, 2023, each member of the Company Group is and has been in material compliance with all Health Laws applicable to the Company Group and the Company Owned Products. No member of the Company Group nor, to the knowledge of the Company, any Company Licensor has received any written notice or other written communication from any Regulatory Authority or other Governmental Entity alleging any material violation of any Health Law and there are no investigations, suits, claims, actions or proceedings pending, or to the knowledge of the Company, threatened in writing against any member of the Company Group or with respect to any of the Company Products from any Regulatory Authority or other Governmental Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The studies, tests and preclinical development activities, if any, conducted by or on behalf of the Company Group are being conducted in all material respects in accordance with applicable Health Laws and Good Laboratory Practices, experimental protocols, procedures and controls pursuant to accepted professional and scientific standards for products or product candidates comparable to those being developed by the Company Group. The descriptions and results of the studies, tests and preclinical development activities conducted by or on behalf of the Company Group that have been furnished or made available to the Parent are accurate in all material respects. The Company Group is not aware of any studies, tests, development or trials the results of which reasonably call into question the results of studies, tests, development, trials conducted by or on behalf of the Company Group. The Company Group has not received any notices or correspondence from the FDA or any other Governmental Entity or any institutional review board or comparable authority requiring the termination, suspension or material modification of any studies, tests, preclinical development or clinical trials conducted by or on behalf of the Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) All clinical trials conducted or being conducted with respect to (i) any of the Company Products by, for the benefit of, or at the direction of any member of the Company Group, (ii) to the knowledge of the Company, any of the Company Licensed Products, and (iii) any investigational drug, biologic, device, or Combination Product that is regulated by FDA or similar Regulatory Authorities, by, for the benefit of, or at the direction of any member of the Company Group, have been and/or are being conducted in compliance in all material respects with applicable Health Laws, including, as applicable, the FDCA and its applicable implementing regulations at 21 C.F.R. Parts 50, 54, 56, 58 and 312, all applicable requirements of Good Laboratory Practices and Good Clinical Practices and any other applicable regulations or guidance that relate to the proper conduct of clinical studies and requirements relating to the protection of human subjects required by the FDA, as well as adverse event and safety reporting. As of the Agreement Date, no clinical trial conducted with respect to (i) any of the Company Products by or at the direction of any member of the Company Group, (ii) to the knowledge of the Company, any of the Company Licensed Products, and (iii) any investigational drug, biologic, device, or Combination Product that is regulated by FDA or similar Regulatory Authorities, by, for the benefit of, or at the direction of any member of the Company Group, has been terminated or suspended by any Regulatory Authority. Since January 1, 2023, no member of the Company Group has received any written notifications or other written communications from any Regulatory Authority, institutional review board, ethics committee or safety monitoring committee that requires or would require the termination or suspension or investigation, or place a clinical hold order on or otherwise materially delay or materially restrict any clinical studies with respect to a Company Product or any investigational drug, biologic, device, or Combination Product that is regulated by FDA or similar Regulatory Authorities that is in development and currently conducted by, or on behalf of, any member of the Company Group and, to knowledge of the Company, no such action has been threatened in writing against any member of the Company Group from any Regulatory Authority. For each such study, the Company or, to the knowledge of the Company, the party conducting the study obtained the informed consent of such human subjects in accordance with applicable Health Laws. Such informed consent, among other things, notified each participating human subject how such human subject's personal data may be used and permitted, without need for further consent or expectation of compensation, the acquisition, analysis and use of any biological samples, records, cells and tissues as necessary for the investigation, clearance/approval, and commercialization. Any Company Licensed Product and any investigational drug, biologic, device, or Combination Product that is regulated by FDA or similar Regulatory Authorities used in a clinical study sponsored by or on behalf of the Company was manufactured in compliance in all material respects with Good Manufacturing Practices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) None of the Company or, to the knowledge of the Company, its agents, distributors, resellers, consultants, clinical investigators, or other third parties acting on behalf of the Company has, with respect to a Company Product or Company Licensed Product (i) engaged in any conduct that is not compliant in any material respect with applicable Health Laws relating to the integrity of data generated or used in any clinical trials or non-clinical studies of a Company Product or Company Licensed Product or any investigational drug, biologic, device, or Combination Product that is regulated by FDA or similar Regulatory Authorities or (ii) altered, falsified, or manipulated any data generated or used in any clinical trials, non-clinical trials, or other studies related to the development, use, handling, safety, efficacy, or reliability of, or in manufacturing of any Company Product or Company Licensed Product, or any investigational drug, biologic, device, or Combination Product that is regulated by FDA or similar Regulatory Authorities under investigation by or for the benefit of the Company or Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Since January 1, 2023, all manufacture of (i) the Company Products by or on behalf of any member of the Company Group and (ii) to the knowledge of the Company, the Company Licensed Products, in either case, has been conducted in compliance in all material respect with applicable Health Laws, including the applicable specifications and requirements of Good Manufacturing Practices. As of the Agreement Date, no member of the Company Group has (i) with respect to any of the Company Owned Products and (ii) to the knowledge of the Company, with respect to the Company Licensed Products, in either case, (A) been subject to a Regulatory Authority shutdown or import or export prohibition or (B) received any FDA Form 483, or other Regulatory Authority "warning letters," "untitled letters" or written requests or requirements to make any material change to any of the Company Products or any other member of the Company Group processes or procedures, or alleging or asserting, in respect of the Company Group or their business operations, material noncompliance with any applicable Health Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) No Company Product or Company Licensed Product manufactured or distributed by the Company is or has been (i) adulterated within the meaning of 21 U.S.C. § 351 (or similar Laws), (ii) misbranded within the meaning of 21 U.S.C. § 352 (or similar Laws) or (iii) in violation of 21 U.S.C. § 360, 21 U.S.C. § 355 or 42 U.S.C. § 262 (or similar Laws) in any material respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) As of the Agreement Date, the Company has not received any written notice that the FDA or any other Regulatory Authority has (i) commenced, or threatened to initiate, any action to withdraw its approval or clearance or request the recall of any Company Product or Company Licensed Product or detain any such product, (ii) commenced, or threatened to initiate, any action to limit or enjoin production of any Company Product or Company Licensed Product or (iii) commenced, or threatened to initiate, any action to limit or enjoin the production of any Company Product or Company Licensed Product produced at any facility where any Company Product or Company Licensed Product is manufactured, tested or packaged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) (i) No Company Products or Company Licensed Products are under consideration by the Company or, to the knowledge of the Company, Company Licensor for recall, withdrawal, suspension, seizure or discontinuation, or have been recalled, withdrawn, suspended, seized or discontinued (other than for commercial or other business reasons) by the Company or Company Licensor, in the United States or outside the United States (whether voluntarily or otherwise), (ii) no Legal Proceedings in the United States or outside of the United States (whether completed or pending) seeking the recall, withdrawal, suspension, seizure or discontinuation of any Company Products or Company Licensed Products are pending against the Company or, to the knowledge of the Company, Company Licensor, and there have been no material quality, efficacy, safety, or performance issues, defects, or complaints with respect to Company Products or, to the knowledge of the Company, Company Licensed Products, and no such matters are pending or outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Company has submitted all reports and records to the FDA and other Regulatory Authorities required by applicable Health Laws. The Company has filed with FDA and applicable Regulatory Authorities all required filings, declarations, listings, and submissions, with respect to any Company Product or Company Licensed Product, including all required investigational new drug applications, clinical study registrations (including clinical study listings and registrations on www.clinicaltrials.gov), fifteen (15)-day reports, seven (7)-day reports, follow-up safety reports, and all annual and periodic reports, amendments and safety reports. The Company has a materially complete documentary record of such submissions, correspondence, contacts, and consultations with FDA and applicable Regulatory Authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) No member of the Company Group, nor any Company Group, officers, directors, or, to the knowledge of the Company, employees or contractors, have been debarred, delisted, disqualified pursuant to 21 C.F.R. § 312.70 or § 812.119, or similarly punished under any Law, including any Health Law, by any Governmental Entity or Regulatory Authority or convicted of a crime for which debarment is mandated or permitted by 21 U.S.C. § 355a. There have been no material allegations or investigations against any member of the Company Group, or, to the knowledge of the Company, any employee or contractor of the Company Group, that could result in exclusion, debarment or disqualification. Additionally, and only to the extent applicable, no member of the Company Group, nor its directors, officers or, to the knowledge of the Company, employees or contractors, have been restricted in any material respect, suspended, excluded or threatened in writing with exclusion from, participation in any federal or state health care program, including under any applicable Health Law. No clinical study conducted by or on behalf of the Company has been conducted using any clinical investigators or personnel who have been disqualified, debarred, or excluded by FDA or any Regulatory Authority or from Federal Health Care Programs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) No member of the Company Group is currently, nor has it been since January 1, 2023: (i) assessed a civil monetary penalty under any Health Law, (ii) party to a corporate integrity agreement with any Governmental Entity or Regulatory Authority, (iii) subject to a deferred prosecution agreement, non-prosecution agreement, consent decree, monitoring agreement, settlement agreement or other similar agreement, in each case, entered into with or imposed by any Governmental Entity or Regulatory Authority, or Order of a Governmental Entity or Regulatory Authority mandating or prohibiting future or past activities in connection with any member of the Company Group's noncompliance with applicable Health Laws, or is subject to any investigation by any Governmental Entity or Regulatory Authority or enforcement, regulatory, or administrative proceeding relating to or arising under any Health Law, and no such investigation, enforcement, regulatory or administrative proceeding has been threatened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Since January 1, 2023, neither the Company, the Company Group, nor any of their respective current or, during employment, former officers, directors or employees or, to the knowledge of the Company, agents, vendors or any other Person described in 42 C.F.R. § 1001.1001(a) engaged by or having a financial relationship with the Company or the Company Group: (a) has been charged with or convicted of, or entered into any settlement or deferred prosecution agreement with any Governmental Entity to avoid conviction of, any criminal offense relating to the delivery of an item or service under any Federal Health Care Program; (b) has been debarred, excluded or suspended from participation in any Federal Health Care Program or received a written notice of their exclusion, suspension or debarment from participation in any Federal Health Care Program, or is otherwise ineligible to participate in any Federal Health Care Program; (c) has had a civil monetary penalty assessed against it, him or her under Section 1128A of the Social Security Act; (d) has been listed on the General Services Administration published list of parties excluded from federal procurement programs and non-procurement programs; or (e) is the target or subject of any current or potential investigation relating to any Federal Health Care Program-related offense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) No member of the Company Group has (i) made an untrue statement of a material fact or fraudulent statement to the FDA or any Governmental Entity or (ii) failed to disclose a material fact required to be disclosed to the FDA or any Governmental Entity, that (in either such case), at the time such disclosure or statement was made or failure to make occurred, establishes a reasonable basis for the FDA to invoke its Fraud, Untrue Statements of Material Facts, Bribery, and Illegal Gratuities Final Policy. As of the Agreement Date, no member of the Company Group is the subject of any pending or, to the knowledge of the Company, threatened, investigation by the FDA pursuant to its Fraud, Untrue Statements of Material Facts, Bribery, and Illegal Gratuities Final Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) The Company has, and since January 1, 2023, has maintained and been in compliance in all material respects with, a compliance program in conformity with material terms of applicable Laws, including applicable Health Laws. There are no material compliance complaints outstanding, internal compliance investigations ongoing, or compliance corrective actions outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) To the knowledge of the Company, as of the Agreement Date, enrollment in the phase III trial of Rezzayo for prophylaxis of aspergillus, candida, and pneumocystis infections in adults undergoing allogeneic blood and marrow transplantation is expected to be completed on or before October 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) The Company maintains a National Drug Rebate Agreement with the Centers for Medicare & Medicaid Services ("**CMS**") supporting its participation in the Medicaid Drug Rebate Program, a Pharmaceutical Pricing Agreement with the Health Resources and Services Administration supporting its participation in the 340B Program, a Federal Supply Schedule ("**FSS**") agreement, Master Agreement and Pharmaceutical Pricing Agreement supporting its participation in the Department of Veterans Affairs/Federal Supply Schedule Program. As of the Agreement Date, the Company has paid all MDRP rebates invoiced by the states on all Medicaid utilization of the Company Licensed Products invoiced as of the Agreement Date, including processing and paying all prior quarter adjustments. In addition, to the extent the Company has supplemental rebate agreements with state Medicaid programs or state pharmaceutical assistance programs, the Company has paid all rebates invoiced by the states pursuant to such agreements. The Company has honored the 340B Ceiling Price on all Company Licensed Products purchased by 340B Covered Entities under wholesaler 340B accounts or otherwise as well as the FSS price for all eligible FSS purchasers via wholesaler or on direct purchases from the Company. As of the Agreement Date, the Company has calculated and reported in a timely manner all government pricing metrics required under the Health Laws, including Average Manufacturer Price, Best Price, Average Sales Price, 340B Ceiling Price and the Non-Federal Average Manufacturer Price/Federal Ceiling Price. The Company maintains policies, standard operating procedures, methodology grids and reasonable assumptions related to its participation in such programs. The Company maintains policies and methodologies related to its participation in such programs. In addition, the Company retains the calculations and other material data related to its participation in such government programs since January 2020.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) The Company had a Coverage Gap Discount Program Agreement and now has a Manufacturer Discount Program with CMS supporting its participation in these programs under Medicare Part D. As of the Agreement Date, the Company has paid all Coverage Gap Discount Program discounts and Manufacturer Discount Program discounts invoiced by CMS/its third party administrator in a timely manner. The Company maintains policies and methodologies related to its participation in such programs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) As of the Agreement Date, the Company has paid all Annual Fee on Branded Prescription Drug Manufacturers and Importers pursuant to Section 9008 of the Patient Protection and Affordable Care Act (ACA), Public Law 111-148 (124 Stat. 119 (2010)), as amended by section 1404 of the Health Care and Education Reconciliation Act of 2010 (HCERA), Public Law 111-152 (124 Stat. 1029 (2010)) due related to Company Licensed Products in a timely manner.

Section 2.16 <u>Environmental Matters</u>. (a) Each member of the Company Group is, and since January 1, 2023 has been, in compliance in all material respects with applicable Environmental Laws, (b) each member of the Company Group possesses and is in compliance in all material respects with all Authorizations required under applicable Environmental Laws for it to conduct its business as presently conducted, (c) since January 1, 2023, no member of the Company Group has been subject to a material Judgment or Proceeding pursuant to any applicable Environmental Law which has not been fully resolved without any ongoing obligations, (d) since January 1, 2023, no member of the Company Group has received any written notice alleging that any member of the Company Group is in violation of, or is a "potentially responsible party" under, any applicable Environmental Law, (e) no member of the Company Group has disposed of or Released any Hazardous Substances on, in or under any real property that would reasonably be expected to require remediation under Environmental Law, and no member of the Company Group has otherwise managed any Hazardous Substances in any manner that would be reasonably expected to give rise to liability under Environmental Laws, and (f) no member of the Company Group has assumed, undertaken or provided an indemnity with respect to any material liability of any other Person relating to Environmental Law or Hazardous Substances.

Section 2.17 <u>Intellectual Property</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section **‎**2.17(a) of the Company Disclosure Letter sets forth a complete and correct list, as of the Agreement Date, of any of the following Company Owned IP: (i) registered Patents and pending applications for registration of Patents, (ii) registered Trademarks and applications for registration of Trademarks, (iii) Internet domain names (including registrations and applications therefor), (iv) registered Copyrights and pending applications for registration of Copyrights and (v) social media accounts (the Intellectual Property referred to in clauses (i) through (iv), collectively, the "**Company Registered Intellectual Property**") and includes for each such asset (other than Internet domain names) as of the Agreement Date (A) the record owner of such asset, (B) the jurisdiction in which such asset is registered or pending and (C) the registration or application date and number of such asset. For each Internet domain name registration constituting Company Registered Intellectual Property, Section **‎**2.17(a) of the Company Disclosure Letter sets forth the applicable domain name registrar and the name of the registrant. Except where a member of the Company Group has, in its reasonable business judgment, decided to cancel, abandon, allow to lapse or not renew Company Registered Intellectual Property or where Company Registered Intellectual Property has expired or been abandoned at the end of its applicable statutory term, all of the Company Registered Intellectual Property is valid, subsisting, in full force and effect and, to the knowledge of the Company, enforceable. Except for matters that are not, or would not reasonably be expected to be, material to the Company Group, no Company Registered Intellectual Property, as of the Agreement Date, is subject to any cancelation, opposition, extension of time to oppose, interference, refusal to register or reexamination proceeding. Except as otherwise listed in Section **‎**2.17(a) of the Company Disclosure Letter, a member of the Company Group is the owner of record in all applications for registration of Intellectual Property rights indicated in Section **‎**2.17(a) of the Company Disclosure Letter. All necessary registration, maintenance, renewal and other relevant filing fees due through the Agreement Date have been timely paid and all necessary documents and certificates in connection therewith have been timely filed with the relevant Patent, Trademark, Copyright, domain name, or other authorities in the United States or foreign jurisdictions, as the case may be, for the purpose of maintaining such Company Registered Intellectual Property in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company Group is the sole and exclusive owner of all right, title and interest in, to and for Company Owned IP, free and clear of all Liens (other than Permitted Liens), and the Company Group owns, or has a license, sublicense or otherwise possesses legally enforceable rights to use all Intellectual Property used in or necessary for the conduct of its business as presently conducted by the Company Group. No third party has any joint ownership in any inventions claimed by any issued Patents or pending claims in any applications for Patents included in the Company Registered Intellectual Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Neither the conduct of the business of the Company Group as presently conducted and previously conducted has infringed, misappropriated or otherwise violated, and is infringing, misappropriating or otherwise violating any Intellectual Property rights of any third party. To the knowledge of the Company, since January 1, 2023, no third party has infringed, misappropriated or otherwise violated, or is infringing, misappropriating or otherwise violating any of the material Company Owned IP and no such claims have been made against any third party by any member of the Company Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) As of the Agreement Date, there is no action pending against any member of the Company Group (other than, for clarity, office actions initiated by the U.S. Patent and Trademark Office or any foreign equivalent), and, no member of the Company Group has received any written notice from any Person since January 1, 2023, in each case, pursuant to which any Person is (i) alleging that the conduct of the business of the Company Group as presently conducted is infringing, misappropriating or otherwise violating any Intellectual Property rights of any third party, or (ii) contesting the ownership, validity or enforceability of any of the Company Owned IP. As of the Agreement Date, none of the Company Owned IP is subject to any pending or outstanding Judgment that adversely restricts the use, transfer or registration of or any member of the Company Group's rights in, or adversely affects the validity or enforceability of, any such Company Owned IP (other than, for clarity, office actions initiated by the U.S. Patent and Trademark Office or any foreign equivalent).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Company Group has taken commercially reasonable steps in accordance with standard industry practices to maintain the secrecy and confidentiality of all material Trade Secrets included in the Company Owned IP and information with respect to which the Company Group has a duty of confidentiality. All use or disclosure of any such Trade Secrets has been pursuant to the terms of a written Contract between the applicable member of the Company Group and the other Person. The Company Group has entered into written confidentiality and nondisclosure agreements with all current and former officers, employees, independent contractors, and consultants who have or have had access to or knowledge of any Company Owned IP, including Trade Secrets. No Company Service Provider has misappropriated any material Trade Secrets or other material, confidential, non-public, or proprietary information of any other Person in the course of the performance of his or her duties as a Company Service Provider.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) No funding, facilities, resources or personnel of any Governmental Entity or any university, college or other educational institution has been or is being used to create, in whole or in part, any Company Owned IP, except for any such funding or use of facilities, resources or personnel that does not result in such Governmental Entity, university, college or other educational institution obtaining ownership of, or license thereto (except for non-exclusive license or use rights during the term of the applicable agreement between the Company and such Governmental Entity, university, college or other educational institution solely for the purposes of performing the research collaboration that is the subject of such agreement, publication rights for results arising from such services, licenses to use data for such entity's internal patient care purposes, or licenses for such entity's research and education purposes). Each member of the Company Group is neither now nor ever has been a member or promoter of, or contributor to, any industry standards bodies or similar organizations that could reasonably be expected to require or obligate the Company Group to grant or offer to any Person or other third party any license or right to any Company Owned IP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Except as is not, and would not reasonably be expected to be, material to the Company Group, Company Group has not distributed, conveyed, licensed or otherwise used any Open Source Software with any Software owned or purported to be owned by the Company Group ("**Proprietary Software**") in any manner that could have a "copyleft" effect on or obligate the member of the Company Group to disclose or distribute in source code form to any third party, at no charge, or otherwise dedicated to the public, any proprietary Software owned by the member of the Company Group in a manner that would: (A) require the Company Group to distribute, disclose or otherwise make available any Proprietary Software in source code form to any third party, (B) require that users have the right to decompile, disassemble or otherwise reverse engineer any Proprietary Software, or other Company Owned IP, except, in each of the foregoing cases, other than with respect to the Open Source Software itself or (C) otherwise impose any limitation, restriction, waiver of rights or condition on the right or ability of the Company Group to use, commercialize or distribute any Proprietary Software or other Company Owned IP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Except as is not, and would not reasonably be expected to be, material to the Company Group, the information technology systems, including the Software, firmware, hardware, networks, interfaces, platforms and related systems, owned, leased or licensed by any member of the Company Group and that are owned, licensed, leased or used or held for use by the Company Group (collectively, the "**Company Systems**") are reasonably sufficient for the conduct of its business as presently conducted by the Company Group. The Company Group has taken all commercially reasonable steps, compliant with Privacy Requirements, to protect the integrity, security and continuous operation of the Company Systems and information, including Personal Data, stored therein, processed thereon or transmitted therefrom from Security Incidents. Since January 1, 2023, there has been no substantial disruption or interruption in or to the use of such Company Systems. The Company Group provides for the backup and recovery of material data and have implemented incident response, disaster recovery and business continuity plans, procedures, and facilities that are consistent with generally accepted industry standards, and as applicable, have taken steps to implement such plans and procedures, and such plans and procedures are tested on a regular basis. The Company Group has conducted regular security assessments and penetration testing of the Company Systems, and have remediated all medium, high, and critical vulnerabilities identified in such assessments and penetration testing. The Company Group has not paid, or has directed the payment of, any ransomware demand payment to any Person in connection with a Security Incident to any party with actual information about a Security Incident.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The execution and delivery of this Agreement by the Company and the consummation of the Transactions will not (i) result in the breach of, or create on behalf of any third party the right to terminate or modify, any agreement (other than an Immaterial IP Contract) as to which any member of the Company Group is a party and pursuant to which any member of the Company Group is authorized to use any Intellectual Property of any third party that is material to the business of the Company Group as presently conducted, (ii) result in or require the grant, assignment or transfer to any other Person (other than Parent, Merger Sub or any of their respective affiliates) of any license or other right or interest under, to or in any of the Company IP or (iii) cause a material loss or impairment of any Company Owned IP. Immediately following the consummation of the Transactions, the Surviving Company will have the right to exercise all of the Company Group's rights in material Company IP to the same extent the Company Group would have been able to had the Transactions not occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) No member of the Company Group has any liability relating to or arising from the Feptanbli Product or the Feptanbli License Agreement, in each case, whether in contract, tort, equity or otherwise, and whether accrued, absolute, contingent or otherwise.

Section 2.18 <u>Privacy</u>. Since January 1, 2023, the Company's data, privacy and security practices have complied and comply in all material respects with Privacy Requirements. Since January 1, 2023, the Company has not experienced a Security Incident that would require notice to any individuals, customers, or Governmental Entity, or any remedial action, under any Privacy Requirement. Since January 1, 2023, the Company maintains commercially reasonable technical, physical and organizational measures to comply with applicable Privacy Requirements. Since January 1, 2023, the Company has not received, been involved in or experienced, and there is no circumstance (including any circumstance arising as the result of an audit or inspection carried out by any Governmental Entity) that would reasonably be expected to give rise to, any Proceeding or allegation from any Person alleging or confirming non-compliance with, or breach or violation of, a relevant requirement of applicable Privacy Requirements. The execution, implementation, and performance of this Agreement and the transactions contemplated thereunder shall not cause or give rise to any violation of a Privacy Laws. This <u>Section 2.18</u> contains the sole and exclusive representations and warranties of the Company with respect to Privacy Requirements.

Section 2.19 <u>Insurance</u>. The Company has provided to Parent complete and accurate copies (or written summaries) of all material insurance policies of the Company Group or under which a member of the Company Group is an insured or the principal beneficiary of coverage. (a) All insurance policies of the Company Group are in full force and effect, sufficient for compliance with all applicable Laws and all Material Contracts and will not in any way be affected by, terminate or lapse by reason of the Transactions, (b) all premiums with respect to such policies covering all periods up to and including the Closing Date have been paid, and no written or, to the knowledge of the Company, oral notice of cancelation or termination has been received with respect to any such insurance policy, other than in connection with ordinary renewals and (c) there is no material claim pending under any of the insurance policies as to which coverage has been questioned, denied or disputed by the underwriters of such policies. To the knowledge of the Company: (i) no member of the Company Group is in breach or default under any insurance policy of the Company Group and (ii) no event has occurred which, with notice or lapse of time, would constitute a breach or default, or permit termination or modification, under any insurance policy of the Company Group.

Section 2.20 <u>Brokers and Other Advisors</u>. No broker, investment banker, financial advisor or other Person, is entitled to any broker's, finder's, opinion, success, transaction, financial advisor's or other similar fee or commission in connection with the Merger and the other Transactions based upon arrangements made by or on behalf of the Company or any of its affiliates.

Section 2.21 <u>Transactions with Related Parties</u>. Except for (a) employment agreements or offer letters entered with the Company, (b) subscription agreements entered into with the Company for the purchase of equity securities, (c) indemnification agreements entered into with the Company or (d) Contracts set forth in Section 2.21 of the Company Disclosure Letter, there are no Contracts between any member of the Company Group, on the one hand, and any Related Party, on the other hand. To the knowledge of the Company, no Related Service Provider, Related Affiliate or Immediate Family of Related Service Provider (i) owns or has any interest in any property (real or personal, tangible or intangible), Company IP or Contract related to the assets of the Company Group, (ii) has any claim or cause of action against any member of the Company Group or (iii) owes any money to, or is owed any money by, any member of the Company Group, in each case, except for (A) employment agreements or offer letters entered into with the Company, (B) equity agreements entered into with the Company or (C) indemnification agreements entered into with the Company.

Section 2.22 <u>Solvency</u>. The Company is not a party to any bankruptcy, insolvency, reorganization, dissolution, liquidation, wind-up or moratorium action, claim, or similar proceeding against the Company, no circumstances exist which would require the Company to apply for the opening of such proceedings, and, to the knowledge of the Company, no such action, claim, or proceeding is contemplated or threatened in writing against the Company nor been filed before any Governmental Entity. The Company is Solvent.

Section 2.23 <u>International Trade and Anti-Corruption Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Neither the Company nor any of its officers, directors or employees, nor to the knowledge of the Company, any agent or other third-party representative acting on behalf of the Company, is a Sanctioned Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as would not be expected to be material to the Company Group, neither the Company, nor any of its officers, directors or employees, nor to the knowledge of the Company, any agent or other third-party representative acting on behalf of the Company in their capacity as such, is (i) currently engaging or since January 1, 2021 has engaged in any dealings or transactions with any Person or in any jurisdiction that was (at the time of the transaction) a Sanctioned Person or Sanctioned Country, or (ii) otherwise in violation of applicable Sanctions Laws or Export Control Laws (collectively, "**Trade Control Laws**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Since January 1, 2021, the Company has not received from any Governmental Entity any written or, to the knowledge of the Company, oral notice, inquiry or allegation, or made any voluntary or involuntary disclosure to a Governmental Entity related to (i) Trade Control Laws, or (ii) Anti-Corruption Laws.

Section 2.24 <u>Bank Accounts; Power of Attorney</u>. Section 2.24 of the Company Disclosure Letter accurately sets forth, with respect to each account maintained by or for the benefit of the Company at any bank or other financial institution: (a) the name and location of the institution at which such account is maintained; (b) the name in which such account is maintained and the account number of such account; (c) the current balance in such account as of five (5) Business Days prior to the Agreement Date; and (d) the names of all individuals authorized to draw on or make withdrawals from, or who have signature authority on, such account (<u>provided</u> that if the individuals authorized to draw on or make withdrawals from, or who have signature authority on, such account is updated during the Pre-Closing Period, then the Company shall deliver an updated list to Parent at least five (5) business days prior to the Closing Date). There are no safe deposit boxes or similar arrangements maintained by or for the benefit of the Company.

Section 2.25 <u>Books and Records</u>. True, correct and complete copies of the minute books and equity record books and other similar records of the Company since April 11, 2020 have been made available to Parent prior to the execution of this Agreement. Such minute books contain an accurate record of all actions and proceedings taken at all meetings and by all written consents in lieu of meetings of the Company Board, Company Members and committees of the Company Board from April 11, 2020 through the Agreement Date (other than information that relates to the Company's 2025 strategic process). Section 2.25 of the Company Disclosure Letter sets forth the current board of directors and officers of the Company.

Section 2.26 <u>Purchase Orders and Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section 2.26(a) of the Company's Disclosure Letter sets forth a true, complete and accurate list, as of the Agreement Date, of all outstanding purchase orders and, to the extent amounts incurred by any member of the Company Group are incurred in calendar year 2025, Contracts of the Company Group involving the purchase of inventory, materials, supplies, equipment (including GPUs), services or other items from third parties (other than customary engagements with outside legal counsel), which (i) individually require payments or performance by the Company in excess of $300,000 in any calendar year after the Agreement Date or (ii) in the aggregate with other similar commitments with the same counterparty exceed $300,000 any calendar year after the Agreement Date (collectively, "**Commitments**"). Section 2.26(a) of the Company's Disclosure Letter includes for each Commitment, the name of the counterparty, the amount committed (including both paid and unpaid amounts), a description of the goods or services ordered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as set forth in Section 2.26(b) of the Company's Disclosure Letter, (i) all such Commitments were entered into in the ordinary course of business, (ii) each such Commitment represents a bona fide obligation of the applicable member of the Company Group and is in full force and effect in accordance with its terms, and (iii) there are no material defaults by the applicable member of the Company, or, to the knowledge of the Company, by any other party thereto, nor has any written notice of termination or intent to cancel any such Commitment been received or delivered.

Section 2.27 <u>Top Customers; Top Suppliers</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section 2.27(a) of the Company's Disclosure Letter, sets forth (i) a complete and accurate list of the top twenty (20) customers of the Company Group during the 12-month period ended December 31, 2024 (measured by revenue in such period) (collectively, the "**Top Customers**"), including the amount of revenue generated from each such Top Customer during such period and (ii) the top twenty (20) suppliers, vendors and service providers during the 12-month period ended December 31, 2024 (measured by the gross amount paid by the Company Group in such period, excluding payments hereunder that are treated as Transaction Expenses and excluding customary engagements with outside legal counsel) (collectively, the "**Top Vendors**"), including the amount of the Company Group's purchases from each such Top Vendor during such period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) None of the Top Customers or the Top Vendors have, within the past 12 months, canceled, materially modified or otherwise terminated, not renewed or otherwise indicated to the Company in writing or, to the knowledge of the Company, orally, that it intends to cancel, materially modify or otherwise terminate or not renew, any Contract or other agreement or arrangement to which such Top Customer or Top Vendor is a party with the Company Group. To the Company's knowledge, there are no existing facts, circumstances, or events that would reasonably be expected to result in a material change to the relationship between any Top Customer or Top Vendor and the Company Group, or a material increase or change to the rate or price of products or services provided by any Top Customer or Top Vendor to the Company Group.

**ARTICLE III<br> REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB**

Except as set forth in the letter, dated as of the Agreement Date, from Parent and Merger Sub to the Company (which shall be arranged in numbered and lettered sections corresponding to the numbered and lettered sections contained in this <u>Article III</u>, and the disclosure in any section thereof shall be deemed to qualify the representations and warranties of the Company in the corresponding section of this <u>Article III</u>, and any other representations and warranties of the Company in this <u>Article III</u> to the extent that it is reasonably apparent on its face that such disclosure also qualifies or applies to such other representations and warranties) (the "**Parent Disclosure Letter**"), Parent and Merger Sub, jointly and severally, represent and warrant to the Company as of the date hereof and as of the Closing Date (except to the extent a representation or warranty is expressly made only as of an earlier date, in which case as of such earlier date):

Section 3.01 <u>Organization, Standing and Power</u>. Each of Parent and Merger Sub is duly organized, validly existing and in good standing under the Laws of the jurisdiction in which it is organized (in the case of good standing, to the extent the concept is recognized by such jurisdiction) and has full corporate or limited liability company power, as applicable, and authority to conduct its businesses as presently conducted.

Section 3.02 <u>Capital Structure</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The authorized capital stock of Parent consists of (i) 160,000,000 Parent Shares and (ii) 2,000,000 preferred stock, par value $0.001 per share (the "**Parent Preferred Stock**"). As of August 5, 2025 a total of (i) 74,648,992 Parent Shares, (ii) 2,000 Parent Preferred Stock, designated as Series C-3 Preferred Stock par value $0.001 ("**Parent Series C-3 Series Preferred Stock"**) and (iii) 89,623 Parent Preferred Stock, designated as Series E Preferred Stock par value $0.001 per share ("**Parent Series E Preferred Stock**") are issued and outstanding. As of the Agreement Date, Parent has reserved 233,038 Parent Shares for issuance under the 2013 Stock Incentive Plan (the "**Parent 2013 Stock Plan**"), with 233,038 Parent Shares outstanding and no Parent Shares remain available for future grants, and Parent has reserved 5,736,024 Parent Shares for issuance under the Amended and Restated 2019 Omnibus Stock Incentive Plan (the "**Parent 2019 Stock Plan**" and, together with the Parent 2013 Stock Plan, the "**Parent Stock Plans**"), as to which options to purchase an aggregate of 5,736,024 Parent Shares are outstanding, 1,384,042 restricted stock units are outstanding, 487,500 performance stock units are outstanding, and 3,091,819 Parent Shares remain available for future grants under the Parent Stock Plans. There are no other issued and outstanding equity interests or other securities of Parent and no outstanding commitments or Contracts to issue any Parent Shares or other securities of Parent other than pursuant to the exercise of outstanding Parent Options under the Parent Stock Plans. Parent has filed with to the SEC true, correct and complete copies of the certificate of incorporation (including any certificates of designations) and bylaws of Parent, as in effect as of the date of this Agreement, and Parent has not amended or otherwise modified (or taken any action to amend or otherwise modify) such documents since August 6, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All outstanding Parent Shares are, and all such equity interests that may be issued prior to the Effective Time will be when issued, duly authorized, validly issued, fully paid and nonassessable and not subject to preemptive rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As of the Agreement Date, there are no outstanding contractual obligations of Parent to repurchase, redeem or otherwise acquire any equity interests of Parent or options, warrants, convertible or exchangeable securities, membership interest-based performance units or other rights to acquire shares equity interests of Parent, except for (i) the provisions set forth in the certificate of incorporation of Parent in effect as of immediately prior to the Closing and the bylaws of Parent in effect as of immediately prior to the Closing, (ii) acquisitions of Parent Shares in connection with the surrender of Parent Shares by holders of Parent Options in order to pay the exercise price of Parent Options, (iii) the withholding of Parent Shares to satisfy tax obligations with respect to awards granted pursuant to the Parent Stock Plans and (iv) the acquisition by Parent of Parent Options in connection with the forfeiture of such awards. As of the Agreement Date, there are no outstanding contractual obligations to register any equity interests of Parent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Parent Shares constituting the Closing Share Consideration and the Parent Shares issuable upon exercise of any Closing Share Warrants have been duly authorized and, when issued and delivered on or after the Effective Time as contemplated by this Agreement, will be validly issued, fully paid and non-assessable and not subject to any preemptive rights. Neither the issuance and delivery of the Parent Shares constituting the Closing Share Consideration nor the issuance and delivery of any Closing Share Warrants and the issuance of Parent Shares issuable upon exercise thereof, will (a) obligate Parent to offer to issue, or issue Parent Shares or other securities to any Person (other than the Company Members) pursuant to any preemptive rights, rights of first refusal, rights of participation or similar rights, or (b) result in any adjustment (automatic, at the election of any Person or otherwise) of the exercise, conversion, exchange or reset price under, or any other anti-dilution adjustment pursuant to, any outstanding securities of Parent.

Section 3.03 <u>Merger Sub</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Merger Sub was formed solely for the purpose of entering into the Transactions, and since the date of its incorporation, Merger Sub has not carried on any business, conducted any operations or incurred any liabilities or obligations other than the execution of this Agreement and any Ancillary Agreement to which it will be a party, the performance of its obligations hereunder or thereunder and matters ancillary hereto or thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All of the outstanding membership interests in Merger Sub have been validly issued and outstanding and are owned directly or indirectly by Parent free and clear of any Lien.

Section 3.04 <u>Authority; Execution and Delivery; Enforceability</u>. Each of Parent and Merger Sub has all requisite power and authority to execute and deliver this Agreement and the Ancillary Agreements to which it will be a party and to consummate the Transactions, subject, in the case of the Merger, to the adoption of this Agreement by Parent, as sole member of Merger Sub (which shall occur immediately following the execution of this Agreement). The execution and delivery by each of Parent and Merger Sub of this Agreement and the Ancillary Agreements to which it will be a party and the consummation by it of the Transactions have been duly authorized by all necessary corporate action on the part of Parent and Merger Sub, subject, in the case of the Merger, to the adoption of this Agreement by Parent, as sole member of Merger Sub (which shall occur immediately following the execution of this Agreement). Neither the approval and adoption of this Agreement nor the consummation of the Merger or the other Transactions requires any approval of the stockholders of Parent under the rules of Nasdaq, the General Corporation Law of the State of Delaware or any other applicable Law, or otherwise. Each of Parent and Merger Sub has duly executed and delivered this Agreement and, prior to the Closing, will have duly executed and delivered each Ancillary Agreement to which it will be a party, and, assuming due authorization, execution and delivery by the Company and the Members' Representative, this Agreement constitutes, and each Ancillary Agreement to which it will be a party will constitute, its legal, valid and binding obligation, enforceable against it in accordance with its terms (subject to Bankruptcy, Equity and Indemnity Exception).

Section 3.05 <u>No Conflicts; Consents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The execution and delivery by each of Parent and Merger Sub of this Agreement do not, the execution, delivery and performance of its obligations by each of Parent and Merger Sub of each Ancillary Agreement to which it will be a party will not, and the consummation of the Merger and the other Transactions and compliance with the terms hereof and thereof will not, conflict with, or result in any violation of, or default (with or without notice or lapse of time, or both) under, any provision of (i) the organizational documents of Parent or Merger Sub, (ii) any Contract to which Parent or Merger Sub is party or by which any of their respective properties or assets is bound or (iii) subject to the filings and other matters referred to in <u>Section **‎**3.04(b)</u>, any Judgment or Law applicable to Parent or Merger Sub or their respective properties or assets, other than, in the case of clauses (ii) and (iii) above, any such items that would not reasonably be expected to, individually or in the aggregate, have a Parent Material Adverse Effect. The offer, issuance and delivery of the Closing Share Consideration are exempt from the registration and qualification requirements of the Securities Act and any state securities (Blue Sky) Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No Consent of, or registration, declaration or filing with, or permit from, any Governmental Entity is required to be obtained or made by or with respect to Parent or Merger Sub in connection with the execution, delivery and performance of this Agreement or any Ancillary Agreement to which it will be a party, the Merger or the consummation of the other Transactions, other than (i) compliance with and filings under the HSR Act, (ii) the applicable requirements of Foreign Antitrust Laws, (iii) the filing of the Certificate of Merger with the Secretary of the State of Delaware, (iv) the filing with Nasdaq of a Notification Form: Listing of Additional Shares for the listing of the Parent Shares constituting the Closing Share Consideration (including the Parent Shares issuable upon exercise of any Closing Share Warrants) on the Nasdaq Global Market, (v) the filings expressly required to be made by Parent after the Effective Time pursuant to the Registration Rights Agreement, (vi) the filing of Current Reports on Form 8-K as expressly required hereby, and (vii) such other items that the failure of which to obtain or make would not reasonably be expected to, individually or in the aggregate, have a Parent Material Adverse Effect.

Section 3.06 <u>Absence of Certain Changes or Events</u>. Since January 1, 2024, there has not been any change, event, condition, development, circumstance, effect or occurrence that has had or would reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect.

Section 3.07 <u>Litigation</u>. There is no Proceeding pending or, to the knowledge of Parent, threatened against Parent or any subsidiary of Parent that would reasonably be expected to, individually or in the aggregate, have a Parent Material Adverse Effect, nor is there any Judgment outstanding against Parent or any subsidiary of Parent that would reasonably be expected to, individually or in the aggregate, have a Parent Material Adverse Effect.

Section 3.08 <u>Brokers and Other Advisors</u>. No broker, investment banker, financial advisor or other Person, other than Moelis & Company, the fees and expenses of which will be paid by Parent, is entitled to any broker's, finder's, financial advisor's or other similar fee or commission in connection with the Merger and the other Transactions based upon arrangements made by or on behalf of Parent or any of its affiliates, directors, officers or employees.

Section 3.09 <u>Solvency; Financing</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Parent is Solvent and, assuming that (i) the representations and warranties of the Company contained in <u>Article II</u> **‎**are each**‎** true and correct in all material respects and (ii) the Company and the Company Subsidiaries have performed their respective covenants and obligations set forth in this Agreement required to be performed at or prior to the Closing in all material respects, after giving effect to the Transactions, Parent will be Solvent and will not be rendered not Solvent by the execution and performance of this Agreement or any of the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Parent has consummated the sale of convertible notes in the aggregate principal amount of $150,000,000 (the "**Convertible Note Offering**"), and has received the net proceeds therefrom, which, together with cash on hand of Parent is sufficient for Parent to have at the Closing an amount sufficient to consummate the Transactions contemplated by this Agreement on the Closing Date, including the payment of (i) payments required to be made under <u>Article I</u> of this Agreement and (ii) the fees and expenses of Parent, Merger Sub and the Surviving Corporation required to be paid by Parent related to the Transactions contemplated hereby. In no event shall the receipt or availability of any funds or financing (including any equity financing) by Parent or any of its affiliates or any other financing or other transactions be a condition precedent to any of Parent's obligations under this Agreement.

Section 3.10 <u>Pending Transactions</u>. Neither Parent, nor any of its affiliates (including Merger Sub), has, directly or indirectly, agreed to acquire any assets or a 25% or greater ownership interest in a business or any Person that has not previously been consummated, whether by merger, consolidation, purchasing a substantial portion of the assets of or equity in any Person or by any other manner or engage in any other transaction or take any other action, that the entry into of an agreement relating to or the consummation of such acquisition, merger, consolidation or purchase or other transaction or action would reasonably be expected to (a) impose any delay in the expiration or termination of any applicable waiting period or impose any delay in the obtaining of, or increase the risk of not obtaining, any authorization, consent, clearance, approval or order of a Governmental Entity necessary to consummate the Merger and the Transactions, including any approvals and expiration of waiting periods pursuant to the HSR Act or any other applicable Foreign Antitrust Law, (b) increase the risk of any Governmental Entity entering, or increase the risk of not being able to remove or successfully challenge, any permanent, preliminary or temporary injunction or other order decree, decision, determination or judgment that would delay, restrain, prevent, enjoin or otherwise prohibit consummation of the Merger and the Transactions or (c) otherwise delay or impede the consummation of the Merger and the Transactions.

Section 3.11 <u>SEC Filings</u>. Parent has timely filed or otherwise furnished (as applicable) with the SEC all material forms, reports, proxy statements, schedules, statements, registration statements and other documents (together with all amendments thereof and supplements thereto) required to be filed or furnished (as applicable) by it under applicable Law since January 1, 2023 together with all certifications required pursuant to the U.S. Sarbanes-Oxley Act of 2002 (the "**Sarbanes-Oxley Act**"), including all certifications required under Section 302 and 906 of the Sarbanes-Oxley Act (together with all exhibits and schedules thereto and all information incorporated therein by reference, the "**Parent SEC Reports**"). The Parent SEC Reports (as of the date filed with the SEC and, in the case of registration statements, prospectuses and proxy statements, on the dates of effectiveness and the dates of mailing, respectively) (a) complied in all material respects with either the applicable requirements of the Securities Act or the Exchange Act, as the case may be, the Sarbanes-Oxley Act and the applicable rules and regulations promulgated by the SEC thereunder and (b) except to the extent superseded or amended by a subsequent filing with the SEC, did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The Parent SEC Reports, when taken as a whole, do not, as of the Agreement Date, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. As of the Agreement Date, none of the Parent SEC Reports is the subject of outstanding SEC comment or, to the knowledge of Parent, ongoing SEC review. Other than the Transactions, no event, liability, development or circumstance shall then have occurred or existed, or shall then be contemplated to occur, with respect to Parent or any of its subsidiaries, or any of its or their businesses, properties, prospects, operations or financial condition, (i) that would be required to be disclosed by Parent under applicable securities laws on a registration statement on Form S-1 filed with the SEC on the date of this Agreement relating to an issuance and sale by Parent of Parent Shares or other securities or (ii) that, under applicable securities Laws, is required to have been, or be, publicly disclosed by Parent (on SEC Form 8-K otherwise) prior to, on or within four (4) business days after the date of this Agreement, and, in either case, that shall not have been publicly disclosed by Parent at least one (1) business day prior to the date of this Agreement. Since January 1, 2023, the Parent Shares have been listed on the Nasdaq Global Market, and subject to any applicable grace periods, Parent has been in and is in compliance in all material respects with the applicable rules and regulations of Nasdaq. There is no suit, action, proceeding or investigation pending or, to the knowledge of Parent, threatened against Parent by Nasdaq or the SEC, respectively, to prohibit or terminate the listing of the Parent Shares on the Nasdaq Global Market or to deregister the Parent Shares under the Exchange Act. Parent has not taken action that is designed to delist the shares from the Nasdaq Global Market or terminate the registration of the Parent Shares under the Exchange Act. The Company is, and at all times since January 1, 2023 has been, in compliance in all material respects with all applicable requirements of the Sarbanes-Oxley Act and applicable rules and regulations promulgated by the SEC thereunder.

Section 3.12 <u>Parent Financial Statements; Undisclosed Liabilities; Investment Company Act; Shell Company Status</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The consolidated financial statements of Parent (including, in each case, any notes and schedules thereto) included or incorporated by reference in the Parent SEC Reports, as of the date filed with the SEC (and, in the case of registration statements, prospectuses and proxy statements, on the dates of effectiveness and the dates of mailing, respectively, and, in the case of any Parent SEC Report amended or superseded by a filing prior to the date hereof, then on the date of such amending or superseding filing), complied in all material respects with applicable accounting requirements and with the published rules and regulations of the SEC with respect thereto, were prepared in accordance with GAAP applied on a consistent basis during the periods indicated (except as may be indicated in the notes thereto), and fairly presented, in all material respects (subject, in the case of the unaudited statements, to normal, recurring audit adjustments not material in amount), the consolidated financial position of Parent and its consolidated subsidiaries as of the date of such financial statements and the consolidated results of their operations and cash flows for each of the periods presented. Except as have been described in the Parent SEC Reports, there are no unconsolidated subsidiaries of Parent or any off balance sheet arrangements of the type required to be disclosed pursuant to Item 303(a)(4) of Regulation S K promulgated by the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as reflected or reserved against in the consolidated balance sheet of Parent as of December 31, 2024, as set forth in the Form 10-K for the fiscal year ended December 31, 2024 filed by Parent on March 25, 2025 (the "**Parent Balance Sheet**"), Parent nor any of its subsidiaries has any liability or obligation of any nature (whether accrued, absolute, contingent or otherwise), other than (i) liabilities or obligations incurred in the ordinary course of business since the date of the Parent Balance Sheet, (ii) liabilities that are executory performance obligations arising under Contracts to which Parent or one of its subsidiaries is a party (other than to the extent arising from a breach thereof by Parent or such subsidiaries), (iii) liabilities or obligations incurred in connection with the Transactions and (iv) liabilities or obligations that are not, and would not be reasonably be expected to be, individually or in the aggregate, material to Parent and its subsidiaries taken as a whole.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Parent has established and maintains a system of internal accounting controls and processes designed to provide reasonable assurances regarding the reliability of financial reporting and the preparation of financial statements in accordance with GAAP. None of Parent and, to the knowledge of Parent, Parent's independent auditors has identified (i) since January 1, 2024, any significant deficiency or material weakness in the design or operation of internal controls over financial reporting utilized by Parent or any of its subsidiaries, (ii) any illegal act or fraud, whether or not material, that involves the management or other employees of Parent or any of its subsidiaries, or any material complaint, allegation, assertion or claim regarding the foregoing, or (iii) improper, wrongful or fraudulent accounting or auditing practices, procedures, methodologies or methods of Parent or any of its subsidiaries or their respective internal accounting controls or any material inaccuracy in the financial statements of Parent, or any material complaint, allegation, assertion or claim regarding the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Neither Parent nor any of its subsidiaries has effected, entered into or created any securitization transaction or "off-balance sheet arrangement" (as defined in Item 303(c) or Regulation S-K under the Exchange Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Parent is not, and immediately after the Effective Time will not be, an "investment company" within the meaning of the U.S. Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Parent is not, and has never been, an issuer subject to Rule 144(i) under the Exchange Act and Parent is eligible to use Form S-3 to register the resale of the Parent Shares issuable as Closing Share Consideration and the Parent Shares issuable upon exercise of any Closing Share Consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Anything in this Agreement or in any Ancillary Agreement to the contrary notwithstanding, it is understood and acknowledged by Parent that: (i) past or future open market or other transactions by any of the Company Members or their affiliates, specifically including "short sales or "derivative" transactions, before or after the Closing of this or future private placement transactions, may negatively impact the market price of Parent's publicly-traded securities, (ii) any of the Company Members and their affiliates, and counter-parties in "derivative" transactions to which any of the Company Members and their affiliates is a party, directly or indirectly, presently may have a "short" position in the Parent Shares and (iii) no Company Member nor any affiliate thereof shall be deemed to have any affiliation with or control over any arm's length counter-party in any "derivative" transaction. Parent further understands and acknowledges that (y) one or more of the Company Members and their affiliates may engage in hedging activities at various times following the Closing, including times during which the volume weighted average price is being calculated for purposes of the Contingent Payment Agreement, and (z) such hedging activities (if any) could reduce the value of the existing stockholders' equity interests in Parent at and after the time that the hedging activities are being conducted. Parent acknowledges that such aforementioned hedging activities do not constitute a breach of this Agreement or any of the Ancillary Agreements.

Section 3.13 <u>R&W Policy</u>. The R&W Policy has been conditionally bound, and a true and correct copy of the bound commitment for the R&W Policy (including all related documents) is attached hereto as <u>Exhibit B</u>.

**ARTICLE IV<br> COVENANTS RELATING TO CONDUCT OF BUSINESS**

Section 4.01 <u>Conduct of Business of the Company Group</u>. Except for matters (i) set forth in Section ‎4.01 of the Company Disclosure Letter or otherwise expressly permitted or required by this Agreement, (ii) as may be required by applicable Law or (iii) as may be consented to in writing by Parent (which consent shall not be unreasonably withheld, conditioned, or delayed), from the Agreement Date until to the earlier of the termination of this Agreement in accordance with its terms or the Effective Time (the "**Pre-Closing Period**"), the Company shall, and shall cause the Company Subsidiaries to, conduct its business in the ordinary course of business consistent with past practice (it being agreed that matters addressed expressly in the specific provisions of the next sentence shall be governed by such provisions rather than the general provisions of this sentence). In addition, except for matters set forth in Section ‎4.01 of the Company Disclosure Letter or otherwise expressly permitted or required by this Agreement or required by applicable Law, during the Pre-Closing Period, the Company shall not, and shall cause the Company Subsidiaries not to, do any of the following without the prior written consent of Parent (which consent shall not be unreasonably withheld, conditioned or delayed):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) enter into any new material line of business or enter into any agreement, arrangement or commitment that limits or otherwise restricts the Company or its affiliates following the Closing, from time to time from engaging or competing in any line of business or in any geographic area or otherwise enter into any agreements, arrangements or commitments imposing material restrictions on its assets, operations or business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (i) declare, set aside, establish a record date in respect of, accrue or pay any dividends on, or make any other distributions (whether in cash, stock, equity securities or property) in respect of, any of its equity interests, other than dividends and distributions of cash by a direct or indirect wholly owned subsidiary of the Company to its parent, (ii) split, combine or reclassify any of its equity interests or issue or authorize the issuance of any other securities in respect of, in lieu of or in substitution for its other equity interests or (iii) repurchase, redeem, offer to redeem or otherwise acquire, directly or indirectly any equity interests of the Company or options, warrants, convertible or exchangeable securities, membership interest-based performance units or other rights to acquire any such equity interests, except for (A) acquisitions of Company Shares in connection with the surrender of Company Shares by Company Optionholders in order to pay the exercise price of Company Options, (B) the withholding of Company Shares to satisfy Tax obligations with respect to awards granted pursuant to the Company Equity Plan and (C) the acquisition by the Company or forfeiture of such awards, in each case in accordance with their terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) issue, grant, deliver, sell, authorize, pledge or otherwise encumber any Company Shares (or any other equity securities of any member of the Company Group), membership interests, options, warrants, convertible or exchangeable securities, Company Share-based or membership interest-based performance units or other rights to acquire such membership interests or Company Shares (or any other equity securities of any member of the Company Group), any Voting Company Debt or any other rights that give any person the right to receive any economic interest of a nature accruing to the Company Members, other than issuances of Company Common Shares upon the exercise of Company Options outstanding on the Agreement Date in accordance with their terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) amend the Certificate of Formation, the Company Operating Agreement or the equivalent governing documents of the Company Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) form any subsidiary or acquire or agree to acquire, directly or indirectly, in a single transaction or a series of related transactions, whether by merging or consolidating with, or by purchasing an equity interest in or substantial assets of, or by any other manner, any assets outside of the ordinary course of business, any business or any corporation, partnership, limited liability company, joint venture, association or other business organization or division thereof or any other Person (other than the Company);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) except as required pursuant to the terms of any Company Benefit Plan or Company Benefit Agreement, in each case, as in effect on the Agreement Date, (i) except as otherwise expressly permitted under this <u>Section 4.01(f)</u>, adopt, enter into, establish, terminate, amend or modify any collective bargaining agreement, Company Benefit Plan or Company Benefit Agreement (or plan or arrangement that would be a Company Benefit Plan or Company Benefit Agreement if in effect on the Agreement Date), including any retention, change in control, severance or termination agreement with any Company Service Provider, (ii) grant to any Company Service Provider any increase in compensation or benefits, including any increase in severance or termination pay, other than an increase to the base salary of a Company Service Provider with an annual base salary below $100,000 by not more than 3% in the ordinary course of business as part of the annual review process, (iii) pay or award, or commit to pay or award, any bonuses or incentive compensation, (iv) hire or terminate (other than for cause) the employment or service of any Company Service Provider with an annual base salary above $100,000 or at or above the director level, (v) accelerate the vesting or payment of any compensation or benefits of any Company Service Provider, (vi) make or forgive any loan to any Company Service Provider (except that the Company Group may provide for the advancement of customary business expenses in the ordinary course of business consistent with past practices), (vii) implement or announce any employee layoffs, furloughs, reductions in force, reductions in compensation, hour or benefits, work schedule changes or similar actions that could implicate the WARN Act or any similar state law (<u>provided</u> that the Company shall be entitled to terminate any Company Service Provider for cause), or (viii) waive or release any noncompetition, nonsolicitation, nondisclosure, noninterference, nondisparagement, or other restrictive covenant obligation of any Company Service Provider;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) sell, assign, license, cancel, allow to lapse or expire, abandon, pledge, encumber or otherwise transfer or dispose of any Company Owned IP, except for (i) non-exclusive licenses (including sublicenses) to Company Owned IP granted in the ordinary course of business, or (ii) cancelation, allowance to lapse or expire, abandonment or disposal of any Company Owned IP at the end of the applicable statutory term, in the ordinary course of prosecution or otherwise in the Company's reasonable business judgment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) disclose any material Trade Secret of the Company Group other than pursuant to a written agreement in usual and customary form and substance protecting the confidentiality thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) make any change in cash management practices or accounting methods, principles or practices, except as may be required (i) by GAAP (or any authoritative interpretation thereof), including pursuant to standards, guidelines and interpretations of the Financial Accounting Standards Board or any similar organization or (ii) by Law, including Regulation S-X promulgated under the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) sell, lease (as lessor), license or otherwise transfer (including through any "spin-off"), or pledge, encumber or otherwise subject to any Lien (other than a Permitted Lien), any material properties or assets (other than Intellectual Property) except (i) sales or other dispositions of inventory and excess or obsolete properties or assets in the ordinary course of business, (ii) pursuant to Contracts made available to Parent and in effect prior to the Agreement Date or (iii) properties or assets having a fair market value of less than $100,000 in the aggregate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) (i) incur or materially modify the terms of (including by extending the maturity date thereof) any indebtedness for borrowed money or guarantee any such indebtedness of another Person, issue or sell any debt securities or warrants or other rights to acquire any debt securities of any member of the Company Group, guarantee any debt securities of another Person, enter into any "keep well" or other agreement to maintain any financial statement condition of another Person or enter into any arrangement having the economic effect of any of the foregoing or (ii) make any loans, advances or capital contributions to, or investments in, any other Person, other than to any person pursuant to any advancement obligations under the Certificate of Formation, Company Operating Agreement or indemnification agreements as in effect on or prior to the Agreement Date and made available to Parent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) make or agree to make any capital expenditure or expenditures that in the aggregate are in excess of $100,000, other than pursuant to Contracts made available to Parent and in effect prior to the Agreement Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) waive, release, assign, pay, discharge, settle, compromise, settle or agree to settle or satisfy (i) any pending or threatened claims, liabilities or obligations relating to a Proceeding (absolute, accrued, asserted or unasserted, contingent or otherwise), including any Proceeding initiated by any member of the Company Group, other than any such payment, discharge, settlement, compromise or satisfaction of a claim solely for money damages in the ordinary course of business in an amount not to exceed $50,000 per payment, discharge, settlement, compromise or satisfaction or $250,000 in the aggregate for all such payments, discharges, settlements, compromises or satisfactions or (ii) any litigation, arbitration, proceeding or dispute that relates to the Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) make, change or revoke any material Tax election, change any annual Tax accounting period or change any method of Tax accounting, file any amended Tax Return, enter into any closing agreement within the meaning of Section 7121 of the Code (or any similar provision of state, local or foreign Law), enter into any Tax allocation agreement, Tax-sharing agreement, pre-filing or advance pricing agreement, or Tax indemnity agreement (in each case, other than agreements entered into in the ordinary course of business and the primary purpose of which does not relate to Taxes), consent to any extension or waiver of the limitation period applicable to any Tax claim or assessment other than those automatically granted by operation of Law, or settle or compromise any Tax liability or claim for refund or fail to pay any material Tax when due;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) amend, cancel, terminate or otherwise fail to keep in full force and effect any insurance policy naming any member of the Company Group as an insured, a beneficiary or a loss payable payee without obtaining comparable substitute insurance coverage;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) enter into or adopt a plan or agreement of complete or partial liquidation or dissolution, merger, consolidation, restructuring, recapitalization or other reorganization (other than the Merger), or file a voluntary petition in bankruptcy or commence a voluntary legal procedure for reorganization, arrangement, adjustment, release or composition of indebtedness in bankruptcy or other similar Laws now or hereafter in effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) abandon, cancel, fail to renew or extend or permit to lapse (i) any material Company Registered Intellectual Property or (ii) any material registered Intellectual Property that is exclusively licensed to any member of the Company Group to the extent that any member of the Company Group has the right to take or cause to be taken such action pursuant to the terms of the applicable Contract under which such Intellectual Property is licensed to any member of the Company Group, other than, in each case (i) or (ii), abandonment or other disposition of any Company Registered Intellectual Property at the end of its applicable statutory term or where a member of the Company Group has, in its good faith business judgment, decided to abandon, cancel, not renew or extend or allow to lapse Company Registered Intellectual Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) except Contracts with suppliers, vendors, distributors and customers in the ordinary course of business, and except to renew any Contract under which Intellectual Property is licensed to any member of the Company Group, enter into, terminate or modify in any material respect, or expressly release any material rights under, any Material Contract or any Contract that, if existing on the Agreement Date, would have been a Material Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) negotiate or enter into any collective bargaining or other agreements with any labor union, works council, or other labor organization or employee representative body representing employees of any member of the Company Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) participate in any scheduled meetings or scheduled teleconferences with, or correspond in writing, communicate or consult with the FDA or any similar Regulatory Authority with respect to any Company Owned Product (excluding routine administrative communications, or immaterial communications) without providing Parent with (i) reasonable advance notice of, and, whenever feasible and to the extent not prohibited under applicable Law, an opportunity for Parent or one of its affiliates to attend or participate in, any substantive scheduled meetings or scheduled teleconferences any member of the Company Group has with the FDA or any similar Regulatory Authority with jurisdiction over the development, commercialization, manufacture or marketing of any Company Owned Product or any advisory committee thereof; (ii) prior to attending any such meetings or teleconferences with or corresponding in writing, communicating or consulting with the FDA or any similar Regulatory Authority, whenever feasible and to the extent not prohibited by applicable Law, reasonably consult with Parent and consider in good faith any comments or other input reasonably provided by Parent in respect of the foregoing (<u>provided</u> that such comments or input are provided by Parent in a timely and good faith basis reasonably in advance of any such meeting or teleconferences); and (iii) following such meeting inform Parent on a timely basis of the contents of such meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) enter into a research or collaboration arrangement that contemplates payments by or to the Company Group in excess of $150,000 in any twelve (12) month period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) commence any clinical study of which Parent has not been informed prior to the Agreement Date, (ii) unless mandated by any Regulatory Authority, discontinue, terminate or suspend any ongoing clinical study or (iii) discontinue, terminate or suspend any ongoing preclinical study, in each case, without first consulting with Parent in good faith; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) authorize, commit or agree to take any of the foregoing actions.

Section 4.02 <u>Parent Forbearances</u>. During the Pre-Closing Period, except (a) as required or expressly permitted by this Agreement, (b) as required by applicable Law, or (c) as may be consented to in writing by the Company (which consent shall not be unreasonably withheld, conditioned, or delayed), Parent shall not (i) amend the certificate of incorporation (including by adopting any certificate of designations), bylaws or any other organizational document of Parent, (ii) declare, set aside, authorize or pay any dividend or other distribution with respect to the capital stock of Parent, (iii) effect any stock split, division or subdivision of shares, reverse stock split, consolidation of shares, reclassification, recapitalization, authorize any new class of security, or effect any other similar transaction, (iv) change its fiscal year, (v) enter into or adopt a plan or agreement of complete or partial liquidation or dissolution, merger, consolidation, restructuring, recapitalization or other reorganization (other than in connection with the Merger or any issuances of incentive equity in the ordinary course of business), or file a voluntary petition in bankruptcy or commence a voluntary legal procedure for reorganization, arrangement, adjustment, release or composition of indebtedness in bankruptcy or other similar Laws now or hereafter in effect or (vi) agree or commit to do any of the foregoing.

Section 4.03 <u>No Control of Other Party's Business</u>. Nothing contained in this Agreement is intended to give Parent or Merger Sub, directly or indirectly, the right to control or direct the Company Group's operations prior to the Effective Time. Prior to the Effective Time, the Company shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over the Company Group's operations, subject to the provisions in <u>Section ‎4.01</u>.

Section 4.04 <u>No Solicitation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall not, shall cause the Company Subsidiaries not to, and shall direct their respective Representatives not to, (i) directly or indirectly solicit, initiate, encourage or facilitate any inquiries, proposals or offers, or the making of any submission or announcement of any inquiry, proposal or offer that constitutes or could reasonably be expected to lead to an Acquisition Proposal or (ii) directly or indirectly engage in, enter into or participate in any discussions or negotiations with any Person regarding, furnish to any Person any information or afford access to the business, properties, assets, books or records of the Company Group to, or take any other action to assist, facilitate or encourage any effort by any Person, in each case in connection with or in response to any inquiry, offer or proposal that constitutes or could reasonably be expected to lead to an Acquisition Proposal. The Company shall, shall cause its directors, officers and the Company Subsidiaries to, and shall direct their respective Representatives to, immediately (i) cease all solicitations, discussions and negotiations regarding any inquiry, proposal or offer pending on the Agreement Date that constitutes or could reasonably be expected to lead to an Acquisition Proposal, (ii) request the prompt return or destruction of all confidential information previously furnished to any Person within the last twelve (12) months for the purposes of evaluating a possible Acquisition Proposal and (iii) terminate access to any physical or electronic data rooms relating to a possible Acquisition Proposal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except to the extent that such disclosure would be prohibited by confidentiality obligations binding the Company prior to the Agreement Date, in addition to the requirements set forth in <u>Section **‎**4.04(a)</u>, the Company shall, as promptly as practicable and in any event within one (1) business day after receipt thereof, advise Parent in writing of (i) any Acquisition Proposal or any request for information or inquiry, proposal or offer that the Company Board in good faith believes could reasonably be expected to lead to an Acquisition Proposal and (ii) the material terms and conditions of such Acquisition Proposal or inquiry, proposal or offer (including any subsequent amendments or modifications thereto) and the identity of the Person making any such Acquisition Proposal or inquiry, proposal or offer.

**ARTICLE V<br> ADDITIONAL AGREEMENTS**

Section 5.01 <u>Access to Information; Confidentiality</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except if prohibited by any applicable Law, the Company shall, and shall cause the Company Subsidiaries to, afford to Parent and to Parent's Representatives, reasonable access during normal business hours (under the supervision of appropriate personnel and in a manner that does not unreasonably interfere with the normal operation of the business of the Company Group) during the Pre-Closing Period to its books and records, Contracts and personnel solely for purposes of effectuating or consummating the Merger and the other Transactions. Notwithstanding the immediately preceding sentence, no member of the Company Group shall be required to afford access or furnish information to the extent (a) such information is subject to confidentiality obligations to a third party, (b) such information relates to the applicable portions of the minutes of the meetings of the Company Board (including any presentations or other materials prepared by or for the Company Board) where the Company Board discussed (i) the Transactions or any similar transaction involving the sale of the Company, or a material portion of its assets, to, or combination of the Company with, any other Person or (ii) any Acquisition Proposal, or (c) the Company determines in good faith on the advice of outside counsel that affording such access or furnishing such information could jeopardize the attorney-client privilege of any member of the Company Group, violate applicable Law or result in antitrust risk for any member of the Company Group; <u>provided</u> that in each such circumstances, the Company will use commercially reasonable efforts to provide Parent with access to any summaries, redactions or portions of books or records as may be reasonably practical without implicating the limitations contained in this sentence. All information exchanged pursuant to this <u>Section **‎**5.01</u> shall be subject to the confidentiality agreement, dated as of September 12, 2024, by and between the Company and Parent, as amended (the "**Confidentiality Agreement**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding anything in the Confidentiality Agreement to the contrary, the Confidentiality Agreement shall apply to any information provided by Parent to the Member's Representative as if such Persons were party thereto.

Section 5.02 <u>Member Approval and Notification</u>. No later than twelve (12) hours following entry into this Agreement, the Company shall obtain the Company Member Approval and deliver copies of the executed Written Consent to Parent.

Section 5.03 <u>Reasonable Best Efforts</u>. Subject to the limitations set forth in this Section ‎5.03 and Section ‎5.04, each of the parties hereto (other than the Members' Representative) agrees to use its reasonable best efforts, and to cooperate with each other party hereto, to take, or cause to be taken, all actions, and to do, or cause to be done, all things necessary, appropriate or desirable to consummate and make effective, in the most expeditious manner practicable, the Merger and the other Transactions, including to execute and deliver such other instruments and do and perform such other acts and things as may be necessary or reasonably desirable for effecting completely the consummation of the Merger and the other Transactions.

Section 5.04 <u>Filings; Other Actions; Notification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the terms and conditions set forth in this Agreement, each of Parent and the Company shall use their respective reasonable best efforts to take, or cause to be taken, all actions, to file, or cause to be filed, all documents and to do, or cause to be done, and to assist and cooperate with the other parties in doing, all things necessary, proper or advisable under applicable Antitrust Laws to consummate and make effective the Merger and the other Transactions as promptly as practicable, including (i) the obtaining of all necessary actions or nonactions, waivers, consents, clearances, decisions, declarations, approvals and, expirations or terminations of waiting periods from Governmental Entities and the making of all necessary registrations and filings and the taking of all steps as may be necessary to obtain any such consent, decision, declaration, approval, clearance or waiver, or expiration or termination of a waiting period by or from, or to avoid an action or proceeding by, any Governmental Entity in connection with any Antitrust Law, (ii) responding as promptly as practicable to any requests for information from any Governmental Entity, and contesting through litigation and resisting any action, including any legislative, administrative or judicial action, and to have vacated, lifted, reversed or overturned any decree, judgment, injunction or other order (whether temporary, preliminary or permanent) that restricts, prevents or prohibits the consummation of the Merger and the Transactions under any applicable Law and (iii) the execution and delivery of any additional instruments necessary to consummate the Merger and the other Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In furtherance and not in limitation of the foregoing, if and to the extent necessary to consummate the Merger before the Outside Date, Parent shall offer, negotiate, commit to or effect, by consent decree, hold separate order or otherwise, (i) the sale, divestiture, license or other disposition or holding separate (through the establishment of a trust or otherwise) of any assets or categories of assets of Parent or any of its affiliates, or (ii) the imposition of any limitation or regulation on the ability of Parent or any of its affiliates to freely conduct their business or own such assets (any of the actions described in the foregoing clauses ‎(i) and ‎(ii), a "**Remedy Action**") except to the extent that such Remedy Actions would, or would reasonably be expected to, individually or in the aggregate, result in a Burdensome Condition; <u>provided</u> that any Remedy Action required to be taken shall be conditioned upon the consummation of the Transactions. Notwithstanding anything to the contrary herein, it is expressly understood and agreed that Parent and its affiliates shall not have any obligation to litigate any suit challenging any of the Transactions as violative of any Antitrust Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Prior to the Agreement Date, Parent and the Company have made appropriate filings of their respective Notification and Report forms as required by the HSR Act with respect to the Merger and the other Transactions. Subject to the terms and conditions of this Agreement, each of Parent and the Company shall (and shall cause their respective affiliates, if applicable, to) as promptly as reasonably practicable, make or submit all appropriate filings, notifications, applications, or similar documents required under any Foreign Antitrust Law applicable to the Merger and the other Transactions (as set forth in Section 5.04(c) of the Company Disclosure Letter).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Without limiting the generality of anything contained in this <u>Section **‎**5.04</u>, each party (other than the Members' Representative) shall, to the extent permitted by Law, (i) use reasonable best efforts to cooperate in all respects and consult with each other in connection with any filing or submission in connection with any investigation or other inquiry, including allowing the other party to have a reasonable opportunity to review in advance and comment on drafts of filings and submissions, (ii) give the other parties prompt notice of the making or commencement of any request, inquiry, investigation, action or Proceeding brought by a Governmental Entity or brought by a third party before any Governmental Entity, in each case, with respect to the Merger and the other Transactions, (iii) keep the other parties informed as to the status of any such request, inquiry, investigation, action or Proceeding, (iv) promptly inform the other parties of any material communication to or from any Governmental Entity in connection with any such request, inquiry, investigation, action or Proceeding, (v) promptly furnish to the other party a copy of such communications, subject to a confidentiality agreement limiting disclosure to outside counsel and consultants retained by such counsel, and subject to redaction or withholding of documents as necessary to protect confidential and competitively sensitive information, (vi) use reasonable best efforts to consult in advance and cooperate with the other parties and consider in good faith the views of the other parties in connection with any substantive communication, analysis, appearance, presentation, memorandum, brief, argument, opinion or proposal to be made or submitted in connection with any such request, inquiry, investigation, action or Proceeding, and (vii) except as may be prohibited by any Governmental Entity, permit authorized Representatives of the other parties to be present at each meeting and telephone or video conference to the extent relating to such request, inquiry, investigation, action or Proceeding. Each party (other than the Members' Representative) shall supply as promptly as practicable and advisable such information, documentation, other material or testimony that may be requested by any Governmental Entity, including any "second request" under the HSR Act, received by any party or any of their respective subsidiaries from any Governmental Entity in connection with such applications or filings for the Merger and the other Transactions. Subject to applicable Law relating to the exchange of information and this <u>Section 5.04(d)</u> and <u>Section 5.04(e)</u>, Parent shall, in consultation with the Company, have the right (i) to determine strategy and direction of all matters with any Governmental Entity and (ii) to review in advance, and direct the revision of, any filing, application, notification or other document to be submitted by the Company to any Governmental Entity under any applicable Law. Parent shall pay all filing fees under the HSR Act and any filing fees under Foreign Antitrust Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Parent and the Company shall use reasonable best efforts to consult in advance with each other and in good faith take each other's views into account prior to taking any material substantive position in any written submissions or, to the extent practicable, discussions with Governmental Entities with respect to the Merger and this Agreement. Parent shall not commit to or agree with any Governmental Entity to not consummate the Merger and the other Transactions for any period of time, or to stay, toll or extend, directly or indirectly, any applicable waiting period under the HSR Act or other applicable Foreign Antitrust Law, and shall not pull and refile any filing made under the HSR Act, in each case, without prior consultation with the Company and in good faith taking the Company's views into account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) During the Pre-Closing Period, Parent agrees that it shall not, and shall not permit any of its affiliates to, directly or indirectly, acquire or agree to acquire any assets or a 25% or greater ownership interest in a business or any Person, whether by merger, consolidation, purchasing a substantial portion of the assets of or equity in any Person or by any other manner or engage in any other transaction or take any other action, if the entering into of an agreement relating to or the consummation of such acquisition, merger, consolidation or purchase or other transaction or action would reasonably be expected to (i) impose any delay in the expiration or termination of any applicable waiting period or impose any delay in the obtaining of, or increase the risk of not obtaining, any authorization, consent, clearance, approval or order of a Governmental Entity necessary to consummate the Merger and the Transactions, including any approvals and expiration of waiting periods pursuant to the HSR Act or any other applicable Foreign Antitrust Law, (ii) increase the risk of any Governmental Entity entering, or increase the risk of not being able to remove or successfully challenge, any permanent, preliminary or temporary injunction or other order decree, decision, determination or judgment that would delay, restrain, prevent, enjoin or otherwise prohibit consummation of the Merger and the Transactions or (iii) otherwise delay or impede the consummation of the Merger and the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Until the date that is three (3) business days prior to the Closing Date, the Company may deliver to Parent a revised Allocation Schedule to reflect any issuance of Company Common Shares upon the exercise of Company Options outstanding on the Agreement Date, upon which such revised Allocation Schedule shall be deemed to be the Allocation Schedule for all purposes hereunder; <u>provided</u> that in no event shall any change to the Allocation Schedule result in any increase in the total consideration payable by Parent under this Agreement or the Contingent Payment Agreement, and in respect of Company Options as provided in <u>Section 1.08(c)</u>, collectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) During the Pre-Closing Period, whenever feasible and to the extent not prohibited by applicable Law, the Company shall promptly furnish Parent with, or provide Parent reasonable access to (i) meeting minutes from any meetings or scheduled teleconferences with the FDA or any similar Regulatory Authority with respect to any Company Licensed Product and (ii) written correspondence (excluding immaterial communications) with the FDA or any similar Regulatory Authority with respect to any Company Licensed Product.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) On or promptly (and in any case within three (3) business days) after the Agreement Date, the Company shall distribute to each Company Optionholder a notice (the "**Optionholder Notice**") in substantially the form attached hereto as <u>Exhibit I</u> to solicit their signature to the Option Treatment Agreement. Further, on or promptly (and in any case within three (3) business days) after the Agreement Date, the Company shall deliver a Promised Equity Cancellation Agreement to each Promised Equity Grantee.

Section 5.05 <u>Employee Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall update and deliver to Parent an updated Business Employee List at least ten (10) business days prior to the Closing Date (and shall provide updates, following Parent's reasonable written requests, for any further changes through the Closing Date) to reflect any terminations and new hires permitted or consented to by Parent pursuant to <u>Section 4.01</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Prior to the Closing, the Company shall use commercially reasonable efforts to obtain an Option Treatment Agreement from each Company Optionholder and a Promised Equity Cancellation Agreement from each Promised Equity Grantee. Parent shall pay (or cause to be paid) such Promised Equity Bonuses through Parent's or the Surviving Company's payroll systems within ten (10) business days following the Closing Date and, for the avoidance of doubt, such Promised Equity Bonuses shall be included as a Transaction Expense for purposes of this Agreement. To the extent that any Promised Equity Grantee has not signed a Promised Equity Cancellation Agreement prior to the date that is five (5) business days prior to the Closing, the Company shall grant fully-vested Company Options covering a number of Company Common Shares so promised to such Promised Equity Grantee on the date that is five (5) business days prior to the Closing, such Company Option to have a per share exercise price that equals or exceed the then-current fair market value of a Company Common Share and will provide for forfeiture for no consideration if not exercised prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For a period commencing on the Closing Date and ending on the earlier of (x) the date that is one (1) year following the Effective Time, and (y) the date the applicable Company Employee's employment terminates for any reason (the "**Continuation Period**"), except as may otherwise be agreed between Parent and a Company Employee, Parent shall provide or cause an affiliate to provide to each individual who is employed by the Company immediately prior to the Effective Time (each, a "**Company Employee**") (i) a base salary, target short-term cash incentive compensation and bonus opportunities and target cash commission opportunities that, in each case, are no less favorable than those provided to such Company Employee by the Company immediately prior to the Effective Time and (ii) employee benefits (other than defined benefit pension, retiree medical, nonqualified deferred compensation and severance benefits, but, for the avoidance of doubt, including fleet and car allowance benefits for the Company's field employees) that are either, in the sole discretion of Parent, comparable in the aggregate to (x) those provided to such Company Employee by the Company immediately prior to the Effective Time, or (y) those provided by Parent and its affiliates to its similarly situated employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) From and after the Effective Time, Parent shall or shall cause the Surviving Company to assume, honor and continue the Company Severance Plan (as defined in the Company Disclosure Letter), any Contracts providing for severance and set forth in Section 5.05(d) of the Company Disclosure Letter in accordance with their respective terms as in effect as of immediately prior to the Effective Time, and the Equity Value Recognition Bonus Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If the Company has not paid annual bonuses in respect of the 2025 fiscal year (the "**2025 Annual Bonuses**") prior to the Effective Time, then, no later than March 15, 2026, and subject to all such unpaid amounts in respect of any portion of the Company's 2025 fiscal year prior to the Closing being included as a Current Liability, Parent shall or shall cause the Surviving Company to pay, through the Surviving Company's payroll systems, bonuses to each individual who was employed by the Company immediately prior to the Effective Time in an amount equal to such individual's annual cash bonus in respect of the 2025 calendar year, calculated as if any performance targets conditioning the payment of such bonus have been achieved in full, in each case net of any amounts as are required to be withheld with respect to the making of such payment under the Code or any provision of state, local or foreign Tax Law, subject to the individual's continued employment through the payment date (the "**Payment Date**"). If Parent or the Surviving Company or any of their respective affiliates terminates the employment of any Company Employee for any reason other than for Cause (as defined in the Company Severance Plan) or on account of such Company Employee's death or disability prior to the Payment Date and provided that the 2025 Annual Bonuses and any amounts payable pursuant to the Company Sales Incentive Plan, in each case, in respect of any portion of the Company's 2025 fiscal year prior to the Closing being included as a Current Liability, (i) such Company Employee shall receive a pro-rata portion of their 2025 Annual Bonus within five (5) business days of the their date of termination, subject to such individual's execution of a general release of claims in favor of the Company, Parent and related Persons (as required by the Company Severance Plan), and (ii) if such Company Employee participated in a Company Sales Incentive Plan, then such Company Employee shall receive a pro-rata portion of their award thereunder for the payment period in which such individual was terminated within five (5) business days of the their date of termination, as if such individual had achieved their sales quota for such period (the "**Pro-Rated 2025 Annual Bonuses**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) On and after the Closing Date, Parent shall provide, or cause to be provided, to each Company Employee under each employee benefit plan maintained or contributed by Parent or any of its affiliates (collectively, the "**Surviving Company Plans**") credit for purposes of eligibility to participate, vesting and benefit accrual (including any welfare plan, retirement plan, vacation, paid time off and sick program or severance program but not for purposes of eligibility or benefit accruals under any defined benefit pension plan, equity plan or retiree medical plan unless otherwise required under applicable Law) for service with the Company or its affiliates (or any predecessor or other entity for whom the Company and its affiliates recognized prior service) performed prior to the Closing Date; <u>provided</u> that the foregoing service recognition shall not apply (i) to the extent it would result in the duplication of benefits for the same period of services, or (ii) to any such benefit plan that is a frozen plan, that provides benefits to a grandfathered employee population.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) With respect to any group health plan maintained by Parent or any of its subsidiaries in which any Company Employee is eligible to participate after the Effective Time, Parent shall, and shall cause the Surviving Company to, (i) use commercially reasonable efforts to waive all limitations as to preexisting conditions and exclusions with respect to participation and coverage requirements applicable to such employees and their eligible dependents and beneficiaries, to the extent such limitations were waived, satisfied or did not apply to such employees or eligible dependents or beneficiaries under the corresponding Company Benefit Plan in which such employees participated immediately prior to the Effective Time, (ii) use commercially reasonable efforts to provide Company Employees and their eligible dependents and beneficiaries with credit for any co-payments and deductibles paid prior to the Effective Time under any Company Benefit Plan in satisfying any analogous deductible or out-of-pocket maximum requirements for the plan year in which the Effective Time occurs and (iii) use commercially reasonable efforts to waive any waiting period or evidence of insurability requirement that would otherwise be applicable to a Company Employee and his or her eligible dependents on or after the Effective Time, in each case to the extent such Company Employee or eligible dependent had satisfied any similar limitation or requirement under an analogous Company Benefit Plan prior to the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) With respect to any accrued but unused vacation time to which any Company Employee is entitled pursuant to the vacation policies applicable to such Company Employee immediately prior to the Effective Time, Parent shall, or shall cause the Surviving Company to, as applicable (and without duplication of benefits), allow such Company Employee to use such accrued vacation time in accordance with the practice and policies of Parent or the Surviving Company, as they may be amended from time to time. For the avoidance of doubt, all accrued but unused vacation time to which any Company Employee is entitled pursuant to the vacation policies applicable to such Company Employee immediately prior to the Effective Time shall be included as a Current Liability to the extent required by the Working Capital Principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) No provision of this <u>Section 5.05(i)</u> shall (i) create any third-party beneficiary rights in any Company Employee or any other Person (including any beneficiary or dependent thereof) in respect of this <u>Section 5.05</u> or any benefits that may be provided, directly or indirectly, under any Company Benefit Plan or Company Benefit Agreement or any Surviving Company Plan or other employee program or any plan or arrangement of Parent or any of its subsidiaries, (ii) be construed to modify, amend or establish any benefit plan, program or arrangement or (iii) subject to the Parent's compliance with its obligations to provide the severance benefits specified in <u>Section 5.05(d),</u> pay the 2025 Annual Bonuses and amounts pursuant to the Company Sales Incentive Plan pursuant to <u>Section 5.05(e)</u>, in any way affect the ability of the parties hereto or any other Person to modify, amend or terminate any of its benefit plans, programs or arrangements. Nothing in this Agreement shall confer upon any Company Service Provider or Company Employee any right to continue in the employ or service of the Surviving Company, Parent or any subsidiary or affiliate thereof, or shall interfere with or restrict in any way the rights of the Surviving Company, Parent or any subsidiary or affiliate thereof to discharge or terminate the services of any Company Service Provider or Company Employee at any time for any reason whatsoever, with or without cause.

Section 5.06 <u>Spreadsheets</u>. At least three (3) business days prior to the Closing Date, the Company shall deliver to Parent a spreadsheet substantially in the form attached hereto as <u>Exhibit J</u> (the "**Spreadsheet**"), which Spreadsheet shall set forth in reasonable detail: (i) the Company's good faith estimate of the calculation of the Closing Cash Consideration and each element thereof, including the Company's good faith estimates of the aggregate amount of Company Cash ("**Estimated Company Cash**"), Company Debt ("**Estimated Company Debt**"), Working Capital ("**Estimated Working Capital**"), and Transaction Expenses ("**Estimated Transaction Expenses**"), (ii) an itemized list of each item of Estimated Company Debt and each Estimated Transaction Expense, (iii) the calculation of the aggregate amount of cash payable to each Equityholder at the Closing pursuant to <u>Section 1.08</u>, (iv) the calculation of the aggregate amount of Additional Consideration payable to each Equityholder (assuming for such purpose that 100% of the Adjustment Escrow Amount and the Members' Representative Reserve will be released to each Equityholder pursuant to <u>Section 1.13(e)</u> and no Excess Payment will be payable pursuant to <u>Section 1.10(e)</u>), (v) the number and type of Company Shares held by, or subject to the Company Options held by, such Equityholders, (vi) the number of Company Shares subject to and the exercise price per share in effect for each Vested Company Option and each Unvested Company Option as of immediately prior to the Effective Time and (vii) a funds flow memorandum setting forth applicable wire transfer instructions. Parent shall have the opportunity to comment on and request reasonable changes to the foregoing estimates and calculations set forth in the Spreadsheet, and the Company shall consider in good faith any changes Parent proposes to such estimates and calculations provided by Parent in respect of the foregoing at least one (1) business day prior to the Closing Date. In addition, not less than three (3) business days prior to the date any Additional Consideration becomes payable pursuant to the terms of this Agreement, the Members' Representative may deliver or cause to be delivered to Parent a spreadsheet setting forth in reasonable detail, (A) the aggregate portion of such Additional Consideration payable to each Equityholder and (B) any updated wire transfer instructions (such spreadsheet containing such information, an "**Additional Consideration Spreadsheet**").

Section 5.07 <u>Expenses</u>. Whether or not the Merger is consummated, except as otherwise set forth herein, all costs and expenses incurred in connection with this Agreement and the Transactions (including Transaction Expenses) shall be paid by the party incurring such expense; <u>provided</u> that at the Closing, Parent shall pay or cause to be paid all Transaction Expenses that are incurred but unpaid as of the Closing.

Section 5.08 [<u>Intentionally Omitted</u>.]

Section 5.09 <u>Director and Officer Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All rights to indemnification and exculpation from liabilities for acts or omissions occurring at or prior to the Effective Time (and rights to advancement of expenses, subject to a customary undertaking reasonably satisfactory to the Company Group to return such expenses if a court of competent jurisdiction shall ultimately determine that an indemnified Person was not entitled to indemnification) now existing in favor of any Person who is or prior to the Effective Time becomes, or has been at any time prior to the Agreement Date, a director, officer, employee or agent (including as a fiduciary with respect to an employee benefit plan) of any member of the Company Group or any of their respective predecessors (each, a "**Company Indemnified Parties**") as provided in the Certificate of Formation, Company Operating Agreement or any indemnification agreement between such Company Indemnified Party and a member of the Company Group that is in effect as of the Agreement Date and that has been made available to Parent (i) shall be assumed by the Surviving Company, without further action, at the Effective Time, (ii) shall survive the Merger, (iii) shall continue in full force and effect in accordance with their terms with respect to any claims against any such Company Indemnified Party arising out of such acts or omissions and (iv) for a period of six (6) years following the Agreement Date, shall not be amended, repealed or otherwise modified in any manner that would adversely affect any right thereunder of any such Company Indemnified Party. Parent shall ensure that the Surviving Company complies with and honors the foregoing obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At or prior to the Effective Time, the Company shall obtain a "tail" directors' and officers' liability insurance policies in a form reasonably satisfactory to the Company and Parent (the "**Tail Insurance Coverage**") in respect of acts or omissions occurring at or prior to the Effective Time (including for acts or omissions occurring in connection with the approval of this Agreement and the consummation of the Transactions) for the period beginning upon the Effective Time and ending six (6) years from the Effective Time, covering each Company Indemnified Party and containing terms (including with respect to coverage and amounts) and conditions (including with respect to deductibles and exclusions) that are in the aggregate, no less favorable in any material respect to any Company Indemnified Party than those of the Company's directors' and officers' liability insurance policies in effect on the Agreement Date; <u>provided</u> that, all costs and expenses related to such policy shall be borne by the Company (and, for the avoidance of doubt, shall be included as a Transaction Expense). Parent shall not, and shall cause the Company and its subsidiaries not to, cancel any such insurance policy. Parent shall cause the Tail Insurance Coverage to be maintained in full force and effect, for its full term, and cause all obligations thereunder to be honored by it and the Surviving Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event that (i) the Surviving Company or any of its successors or assigns (A) consolidates with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger or (B) transfers or conveys all or a substantial portion of its properties or other assets to any Person or (ii) Parent or any of its successors or assigns dissolves the Surviving Company, then, and in each such case, Parent shall cause proper provision to be made so that the applicable successors and assigns or transferees expressly assume the obligations set forth in this <u>Section 5.09</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) From and after the Effective Time, the obligations of Parent and the Surviving Company under this <u>Section 5.09</u> shall not be terminated or modified in such a manner as to adversely affect any Company Indemnified Party to whom this <u>Section 5.09</u> applies without the consent of such affected Company Indemnified Party. The provisions of this <u>Section 5.09</u> are, from and after the Closing, intended to be for the benefit of, and shall be enforceable by, each Company Indemnified Party, their heirs and their representatives, each of whom is an express third-party beneficiary of this <u>Section 5.09</u>, and are in addition to, and not in substitution for, any other rights to which each Company Indemnified Party is entitled, whether pursuant to Law, Contract or otherwise.

Section 5.10 <u>Public Announcements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Parent and Merger Sub, on the one hand, and the Company, on the other hand, shall not, directly or indirectly, issue any press release or other public statements with respect to the Merger and the other Transactions, without the prior written consent of the other party, except as required by applicable Law (including in connection with the making of any filings or notifications required under the HSR Act or any Foreign Antitrust Laws in connection with the transactions described herein or to respond to any requests for information or documents made by a Governmental Entity investigating the transactions described herein), court process or by obligations pursuant to any listing agreement with any national or foreign securities exchange, in which case, the party required to make such press release or public statement shall use its reasonable best efforts to allow the other party a reasonable opportunity to review and comment on such press release or statement in advance of its issuance. The parties agree that any press release to be issued with respect to the Transactions shall be in a form mutually agreed to by the parties. Notwithstanding the foregoing, (i) to the extent the content of any press release or other public statement is substantially the same as a statement previously issued in accordance with this <u>Section **‎**5.10</u>, no separate approval shall be required in respect of such content to the extent replicated in whole or in part in any subsequent press release or other public statement, (ii) each party may make public statements in response to questions by the press, analysts, investors or those attending industry conferences or financial analysts conference calls, so long as any such statements are consistent with the press release and other press releases and public statements made jointly by the parties or made by one party in accordance with this <u>Section **‎**5.10</u>, (iii) the Consenting Company Members and their affiliates shall be permitted to disclose such information to their respective current and prospective investors in the ordinary course of business consistent with such Consenting Company Member's or its applicable affiliate's past practice; <u>provided</u> that such Consenting Company Member informs the recipient of the information that such information is confidential and such recipient is subject to obligations of confidentiality, (iv) disclosure by a party shall be permitted without the other party's written consent to enforce its rights under this Agreement or for disclosures in dispute resolution proceedings related to this Agreement, the Transactions, the Ancillary Agreements or the transactions contemplated therein to the courts or arbitrators involved in such proceedings and (v) Parent and its affiliates may make (such disclosures regarding the subject matter of this Agreement or any of the Transactions to their investors or prospective investors in connection with fundraising, marketing, information, transactional or reporting activities; <u>provided</u> that Parent shall afford the Company and the Members' Representative a reasonable opportunity to review and comment upon any such announcement, communication or disclosure and shall consider in good faith any such comments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding the foregoing, (i) by the first (1st) business day following the Agreement Date, Parent and the Company shall issue a joint press release announcing the entry into this Agreement, in a form approved by each of Parent, the Company and the Members' Representative, and Parent shall file with the SEC a Current Report on Form 8-K, in a form reasonably acceptable to each of the Company and the Members' Representative, describing this Agreement and the Transactions, and including copies of this Agreement and forms of each of the Ancillary Agreements required to be filed under applicable Law as exhibits thereto, prior to 9:00 a.m. Eastern time on the first (1st) business day following the Closing Date (unless the Closing occurs prior to the open of regular trading on Nasdaq on any Trading Day, which case, as soon as possible thereafter prior to the open of trading on such Trading Day), Parent and the Company shall issue a joint press release announcing the occurrence of the Closing and the consummation of the Merger, in a form approved by each of Parent, the Company and the Members' Representative, and Parent shall file with the SEC a Current Report on Form 8-K, in a form reasonably acceptable to the Members' Representative (the "**Closing 8-K**"), disclosing the foregoing and any other then material non-public information that (A) has been provided or made available on or prior thereto to the Company or any of the Company Members, or any of their respective affiliates, agents or representatives by or on behalf of Parent or any of its affiliates, agents or representatives, or any of their respective or (B) relates to Parent's acquisition of the Company, including material financial and other relevant information in respect thereof, and including copies of the executed Ancillary Agreements as exhibits thereto. Notwithstanding anything contained in this Agreement to the contrary, and without implication that the contrary would otherwise be true, Parent expressly acknowledges and agrees that, from and after the filing of the Closing 8-K, none of the Company Members nor any of their affiliates shall have (unless and only to the extent expressly agreed to by an Company Members after the Closing Date in a written definitive and binding agreement executed by Parent or such Company Member or in a customary oral (confirmed by e-mail) "wall cross" agreement), any duty of trust or confidence with respect to, or a duty not to trade in any Parent Shares or any other securities (of Parent or any other Person) while aware of, any material non-pubic information or any other information regarding Parent or any of its subsidiaries, including the Company. Parent understands and acknowledges that the Company Members, their affiliates and Persons acting on their behalf will rely on the, provisions and agreements set forth in this <u>Section **‎**5.10</u> in effecting transactions in Parent Shares and other securities of Parent and of other Persons. The provisions of this <u>Section **‎**5.10</u> are intended to be for the benefit of, and shall be enforceable by, each of the Company Members and their representatives, each of whom is an express third-party beneficiary of this <u>Section **‎**5.10</u>. For the avoidance of doubt, nothing contained herein shall affect, or be deemed to affect, the rights of any Person in respect of material non-public information as provided in a subscription agreement entered into in connection with the Convertible Note Offering by such Person or any of its Affiliates.

Section 5.11 <u>Tax Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Transfer Taxes</u>. All membership interest transfer, real estate transfer, documentary, stamp, recording, registration and other similar Taxes, and any conveyance fees, recording charges and other fees and charges (including interest, penalties and additions to any such Taxes) ("**Transfer Taxes**") imposed on the Transactions, if any, shall be borne fifty percent (50%) by each of the Surviving Company and the Equityholders, and the Company shall cooperate with Merger Sub and Parent in preparing, executing and filing any Tax Returns with respect to such Transfer Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Cooperation on Tax Matters</u>. Subject to the other provisions of this Agreement, Parent, the Company and, following the Effective Time, the Members' Representative shall cooperate, as and to the extent reasonably requested by the other parties, and at the requesting party's cost and expense (in the case of the Members' Representative, on behalf of the Equityholders), in connection with the preparation and filing of Tax Returns and the conduct of any audit, investigation or other proceeding in respect of Taxes, in each case, relating to the members of the Company Group. Such cooperation shall include, without limitation, the provision of records and information reasonably requested by the other parties which are reasonably relevant to any such Tax Return or audit, investigation or other proceeding in respect of Taxes and making employees available on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. For the avoidance of doubt, the Company and the Members' Representative shall only be required to provide Tax information in its possession relating exclusively to the Company Group. Notwithstanding anything to the contrary herein, the Members' Representative shall have no obligation to prepare or file any Tax Returns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Apportionment of Straddle Tax Periods</u>. For purposes of this Agreement (including for purposes of determining Accrued Income Taxes), the parties agree to use the following conventions for determining the amount of Taxes attributable to the portion of the Straddle Tax Period ending on the Closing Date: (i) in the case of property Taxes and other similar Taxes imposed on a periodic basis, the amount attributable to the portion of the Straddle Tax Period ending on and including the Closing Date shall be determined by multiplying the Taxes for the entire Straddle Tax Period by a fraction, the numerator of which is the number of calendar days in the portion of the period ending on the Closing Date and the denominator of which is the number of calendar days in the entire Straddle Tax Period; and (ii) in the case of all other Taxes (including income Taxes, sales Taxes, employment Taxes and withholding Taxes), the amount attributable to the portion of the Straddle Tax Period ending on the Closing Date shall be determined as if the Company and/or such Subsidiary filed a separate Tax Return with respect to such Taxes for the portion of the Straddle Tax Period ending as of the end of the day on the Closing Date using a "closing of the books" methodology. Any item determined on an annual or periodic basis (including amortization and depreciation) shall be allocated to the portion of the Straddle Tax Period ending on the Closing Date based on the relative number of days in such portion of the Straddle Tax Period as compared to the number of days in the entire Straddle Tax Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Pre-Closing Tax Refunds</u>. Any ERC Payroll Tax Refund Amount received by any member of the Company Group, shall be for the account of the Equityholders. Parent shall pay to the Equityholders and the Surviving Corporation, as applicable, for disbursement to the Equityholders (in accordance with their allocable portion (as set forth on the Allocation Schedule)) any such ERC Payroll Tax Refund Amount within ten (10) days after receipt thereof. If Parent or the Surviving Company has to subsequently repay such ERC Payroll Tax Refund Amount (including any interest in respect thereof) to any Governmental Entity, the Equityholders shall promptly repay any amounts received by them under this <u>Section **‎**5.11(d)</u> to Parent. Any other Tax refunds received by Parent or the Surviving Corporation may be retained by Parent or the Surviving Corporation, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Pre-Closing Distribution</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Tax Reporting Matters</u>. For U.S. federal, state and local income Tax reporting purposes, the Parties intend, and agree to treat, the Pre-Closing Distribution as a distribution of property governed by Section 301 of the Code (the fair market value of which shall be determined pursuant to <u>Section 5.11(e)(ii)</u>). The Company and Parent currently expect to report the amount of the Pre-Closing Distribution as a non-dividend distribution in Box 3 of IRS Form 1099-DIV. At least thirty (30) days prior to the due date for issuing IRS Form 1099-DIV for the Pre-Closing Distribution to the Consenting Company Members, Parent shall provide written notification to the Consenting Company Members either confirming its intention to report the Pre-Closing Distribution as a non-dividend distribution on Form 1099-DIV or, if it cannot provide such confirmation because the Company expects to report positive earnings and profits for such taxable year, informing the Consenting Company Members of its determination that the Company expects to report positive earnings and profits for such taxable year and the estimated amount thereof. In that event, Parent shall consult the Consenting Company Members in good faith as to whether it is possible to eliminate the Company's positive earnings and profits and, if requested by the Consenting Company Members, shall cause the Company to elect under Section 174A(f)(2)(A)(i) to deduct any and all remaining unamortized domestic research and experimentation expenditures in the Company's Pre-Closing Tax Period ending with the Closing Date. Consistent with the foregoing, Parent shall cause the Company to file IRS Form 5452 and any other tax forms required to substantiate the reporting of the Pre-Closing Distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Valuation of Pre-Closing Distribution</u>. For U.S. federal and state income Tax purposes (including Sections 301 and 311(b) of the Code), the fair market value of the Pre-Closing Distribution will be as mutually determined and agreed by Parent and the Consenting Company Members. If Parent and Consenting Company Members, acting in good faith, are unable to agree on the fair market value of the Pre-Closing Distribution by thirty (30) days prior to the due date for issuing IRS Form 1099-DIV reporting the Pre-Closing Distribution to the Consenting Company Members, the fair market value will be determined by a reputable third-party valuation firm mutually acceptable to Parent and the Consenting Company Members. Each of Parent and the Consenting Company Members will bear fifty percent (50%) of the fees of such valuation firm.

Section 5.12 <u>Merger Sub and Surviving Company Compliance</u>. Parent shall cause Merger Sub or the Surviving Company, as applicable, to comply with all of its respective obligations under this Agreement and Merger Sub shall not engage in any activities of any nature except as provided in or contemplated by this Agreement.

Section 5.13 <u>280G Approval</u>. Promptly following the execution of this Agreement (and no later than three (3) business days prior to the Closing Date), the Company shall (i) obtain waivers (in form and substance reasonably satisfactory to Parent) from each Person who has a right to any payments and/or benefits as a result of or in connection with the transactions contemplated by this Agreement that would reasonably be expected to constitute "parachute payments" within the meaning of Section 280G of the Code and as to which such Person waives his or her rights to some or all of such payments and/or benefits (the "**Waived 280G Benefits**") applicable to such Person so that all remaining payments and/or benefits applicable to such Person shall not be deemed to be "excess parachute payments" (within the meaning of Section 280G of the Code) and (ii) following the execution of the waivers described in clause (i), submit to the Company Members for approval any Waived 280G Benefits pursuant to a vote intended to meet the requirements of Section 280G(b)(5)(B) of the Code and the Treasury Regulations thereunder, in a manner and with a disclosure document that shall be in form and substance reasonably satisfactory to Parent, and prior to the Closing, the Company shall deliver to Parent notification and documentation reasonably satisfactory to Parent that a vote of the Company Members was solicited in conformance with Section 280G of the Code and the regulations promulgated thereunder, and that either the requisite member approval was obtained with respect to any payments and/or benefits that were subject to the member vote (the "**280G Member Approval**"), or that the 280G Member Approval was not obtained and as a consequence, that the Waived 280G Benefits shall not be made or provided. At least five (5) days prior to obtaining any waiver or soliciting stockholder approval, the Company shall provide Parent with copies of all Section 280G-related documents, including, without limitation, any Section 280G analysis prepared by or on behalf of the Company, the stockholder disclosure document, waivers and stockholder consents, for Parent's review and approval and shall accept all reasonable comments made thereto by Parent (with such approval not to be unreasonably withheld, conditioned or delayed).

Section 5.14 <u>R&W Policy</u>. From and after the period commencing on the Closing Date and terminating on the expiration of the applicable coverage period as set forth in the R&W Policy delivered to the Company at the Closing, Parent (a) shall (and shall cause its affiliates to) maintain the R&W Policy on substantially the same terms and conditions set forth in the R&W Policy delivered to the Company at the Closing, (b) shall cause the R&W Policy at the Closing to provide that the insurer shall waive and not pursue any subrogation rights against any Equityholder, the Members' Representative or any of their respective affiliates or Representatives, other than subrogation rights against the such party in the case of actual Fraud committed by such party, (c) shall not (and shall cause its affiliates to not) amend, modify, terminate or waive any provision in the R&W Policy in a manner material and adverse to any Equityholder, the Members' Representative or any of their respective affiliates or Representatives without the prior written consent of the Members' Representative and (d) shall cause the R&W Policy at Closing to provide that the Equityholders are third-party beneficiaries of the subrogation and related provisions in the R&W Policy. Parent shall pay all costs and expenses related to the R&W Policy, including the total premium, underwriting costs, brokerage commissions, Taxes related to the R&W Policy and other fees and expenses of the R&W Policy.

Section 5.15 <u>Third-Party Consents</u>. Prior to the Closing, except as otherwise agreed by Parent and the Company, Parent and the Company shall cooperate with the other in connection with, and shall use commercially reasonable efforts (which shall not require any concession or expenditure) to make, obtain or deliver (as applicable), the consents, waivers and approvals of, or notices to, third parties (other than Governmental Entities) required in connection with the Transactions (collectively, the "**Third-Party Consents**"). For the avoidance of doubt, the failure to obtain any such consent, waiver or approval shall not constitute a breach of covenant or agreement for any purposes of this Agreement.

Section 5.16 <u>Pre-Closing Distribution</u>. Prior to the Closing, the Company shall, and the Company shall cause each of its applicable affiliates to effect, by way of a dividend declaration, the assignment of the Company's right, title and interest in and to the Feptanbli Product and the Feptanbli License Agreement, in accordance with an assignment agreement substantially in the form attached hereto as <u>Exhibit K</u> (such assignment agreement, the "Feptanbli Assignment Agreement" and, the actions contemplated thereby and by this <u>Section 5.16</u>, the "**Pre-Closing Distribution**").

Section 5.17 <u>TOPROL Acquisition</u>. Following the Effective Time, Parent shall, and shall cause the Surviving Company to, comply with the terms and conditions of an asset purchase agreement substantially in the form attached hereto as <u>Exhibit L</u> (the "**TOPROL Acquisition Agreement**").

**ARTICLE VI<br> CONDITIONS PRECEDENT TO THE MERGER**

Section 6.01 <u>Conditions to Each Party's Obligation</u>. The respective obligation of each party to effect the Transactions is subject to the satisfaction or, to the extent permitted by applicable Law, waiver by each such party on or prior to the Closing of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>No Legal Restraints</u>. No Judgment issued, or other legal restraint or prohibition imposed, in each case, by any Governmental Entity of competent jurisdiction, or Law enacted, issued or promulgated after the Agreement Date, in each case, of the United States or any jurisdiction listed on <u>Schedule 6.01(a)</u> (collectively, "**Legal Restraints**") making illegal, preventing or prohibiting the consummation of the Merger or the other Transactions shall be in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Company Member Approval</u>. The Company Member Approval shall have been obtained in accordance with the DLLCA and the Certificate of Formation and Company Operating Agreement, and shall not have been rescinded or revoked and shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>HSR Act Approval</u>. The applicable waiting period (and any extensions thereof) under the HSR Act shall have expired or been terminated and any voluntary agreement between Parent and the Company, on the one hand, and the FTC or the DOJ, on the other hand, not to consummate the Merger shall have expired or been terminated.

Section 6.02 <u>Additional Conditions to Obligations of the Company</u>. The obligations of the Company to consummate the Transactions shall be subject to the satisfaction or, to the extent permitted by applicable Law, waiver at or prior to the Closing of each of the following conditions (it being understood and agreed that each such condition is solely for the benefit of the Company and may be waived by the Company in writing in its sole discretion without notice or liability to any Person):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Representations, Warranties and Covenants</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The representations and warranties made by Parent and Merger Sub in <u>Section 3.01</u> (*Organization, Standing and Power*), <u>Section 3.03</u> (*Merger Sub*), <u>Section 3.04</u> (*Authority; Execution and Delivery; Enforceability*), <u>Section 3.05</u> (*No Conflicts; Consents*) and <u>Section 3.08</u> (*Brokers and Other Advisors*) (the "**Parent Fundamental Representations**") shall be true and correct in all but *de minimis* respects on and as of the Agreement Date and on and as of the Closing Date as though such representations and warranties were made on and as of such dates (except for representations and warranties that address matters only as to a specified date or dates, which representations and warranties shall be true and correct with respect to such specified date or dates);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) each of the other representations and warranties made by Parent and Merger Sub herein shall be true and correct on and as of the Agreement Date and on and as of the Closing Date as though such representations and warranties were made on and as of such dates (except for representations and warranties that address matters only as to a specified date or dates, which representations and warranties shall be true and correct with respect to such specified date or dates), except where any such failure, individually or in the aggregate with any other such failures, would not have a Parent Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Compliance with Covenants</u>. Parent shall have performed and complied in all material respects with all covenants, agreements and obligations herein required to be performed and complied with by Parent at or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Receipt of Closing Deliveries</u>. The Company shall have received each of the agreements, instruments, certificates and other documents set forth in <u>Section **‎**1.07(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>No Material Adverse Effect</u>. Since the Agreement Date, there shall not have occurred a Parent Material Adverse Effect that is continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Listing Requirements</u>. The Parent Shares shall be listed on the Nasdaq Global Market, no stop order or suspension of trading shall have been imposed by Nasdaq, the SEC or any other governmental or regulatory body with respect to public trading of the Parent Shares, Parent shall have filed with Nasdaq a Notification Form: Listing of Additional Shares for the listing of the Parent Shares constituting the Closing Share Consideration (including the Parent Shares issuable upon the exercise of any Closing Share Warrants) on the Nasdaq Global Market, and Nasdaq shall have raised no objection to such notice or any of the Transactions.

Section 6.03 <u>Additional Conditions to the Obligations of Parent</u>. The obligations of Parent and Merger Sub to consummate the Transactions shall be subject to the satisfaction or, to the extent permitted by applicable Law, waiver at or prior to the Closing of each of the following conditions (it being understood and agreed that each such condition is solely for the benefit of Parent and Merger Sub and may be waived by Parent (on behalf of itself and/or Merger Sub) in writing in its sole discretion without notice or liability to any Person):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Representations, Warranties and Covenants</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company Fundamental Representations shall be true and correct in all but *de minimis* respects on and as of the Agreement Date and on and as of the Closing Date as though such representations and warranties were made on and as of such dates (except for representations and warranties that address matters only as to a specified date or dates, which representations and warranties shall be true and correct with respect to such specified date or dates);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The representations and warranties made by the Company in ***‎***<u>Section 2.07(a)</u> (*Absence of Certain Changes or Events*) shall be true and correct in all respects on and as of the Agreement Date and on and as of the Closing Date as though such representations and warranties were made on and as of such dates (except for representations and warranties that address matters only as to a specified date or dates, which representations and warranties shall be true and correct with respect to such specified date or dates);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) each of the other representations and warranties made by the Company in <u>Article ***‎***III</u> shall be true and correct (without giving effect to any qualification as to materiality or Company Material Adverse Effect) on and as of the Agreement Date and on and as of the Closing Date as though such representations and warranties were made on and as of such dates (except for representations and warranties that address matters only as to a specified date or dates, which representations and warranties shall be true and correct with respect to such specified date or dates), except where any such failure, individually or in the aggregate with any other such failures, would not have a Company Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Company shall have performed and complied in all material respects with all covenants, agreements and obligations herein required to be performed and complied with by the Company at or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Receipt of Closing Deliveries</u>. Parent shall have received each of the agreements, instruments, certificates and other documents set forth in <u>Section **‎**1.07(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Pre-Closing Distribution</u>. The Pre-Closing Distribution shall have occurred in accordance with <u>Section 5.16</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>No Material Adverse Effect</u>. Since the Agreement Date, there shall not have occurred a Company Material Adverse Effect that is continuing.

**ARTICLE VII<br> TERMINATION, AMENDMENT AND WAIVER**

Section 7.01 <u>Termination</u>. This Agreement may be terminated at any time prior to the Closing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by mutual written consent of Parent and the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by either Parent or the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Closing shall not have occurred on or before 11:59 p.m., Eastern time, on November 3, 2025 (the "**Outside Date**"); <u>provided</u> that the right to terminate this Agreement pursuant to this <u>Section ***‎***7.01(b)(i)</u> shall not be available to any party if the failure of the Closing to occur on or before the Outside Date is primarily due to a material breach of this Agreement by such party; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if any Legal Restraint permanently preventing or prohibiting the consummation of the Merger or other Transactions shall be in effect and shall have become final and non-appealable; <u>provided</u> that the party seeking to terminate this Agreement pursuant to this clause (ii) shall have complied in all material respects with its obligations under <u>Section ***‎***5.04</u> in respect of any such Legal Restraint;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by Parent, (i) if the Company breaches or fails to perform any of its representations, warranties or covenants contained in this Agreement, which breach or failure to perform individually or in the aggregate with all such other breaches or failures to perform (A) would result in the failure of any of the conditions set forth in <u>Section **‎**6.03(a)</u> to be satisfied and (B) cannot be cured by the Outside Date, or if capable of being cured by the Outside Date, has not been cured prior to the earlier of (I) thirty (30) days after the giving of written notice to the Company of such breach or failure to perform and (II) three (3) business days prior to the Outside Date (<u>provided</u> that Parent and Merger Sub are not then in material breach of any representation, warranty or covenant contained in this Agreement) or (ii) if the Company does not deliver to Parent the Written Consent constituting the Company Member Approval within twelve (12) hours after the execution and delivery of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) by the Company, if Parent or Merger Sub breaches or fails to perform any of its representations, warranties or covenants contained in this Agreement, which breach or failure to perform (i) had or would reasonably be expected to, individually or in the aggregate, have a Parent Material Adverse Effect and (ii) cannot be cured by the Outside Date, or if capable of being cured by the Outside Date, has not been cured prior to the earlier of (A) thirty (30) days after the giving of written notice to Parent or Merger Sub of such breach or failure to perform and (B) three (3) business days prior to the Outside Date (<u>provided</u> that the Company is not then in material breach of any representation, warranty or covenant contained herein).

The party desiring to terminate this Agreement pursuant to this <u>Section ‎7.01</u> (other than pursuant to <u>Section ‎7.01(a)</u>) shall give written notice of such termination to each other party hereto and specify the applicable provision or provisions hereof pursuant to which such termination is being effected.

Section 7.02 <u>Effect of Termination</u>. In the event of termination of this Agreement by either the Company or Parent as provided in <u>Section ‎7.01</u>, this Agreement shall forthwith become void and have no effect, without any liability or obligation on the part of Parent or Merger Sub, on the one hand, or the Company, on the other hand, except that (a) the last sentence of <u>Section ‎5.01</u>, <u>Section ‎5.07</u>, this <u>Section ‎7.02</u> and <u>Article VIII</u>, and any definitions contained in this Agreement and referred to but not contained in any such provisions, shall survive such termination and (b) no such termination shall relieve any party of any liability or damages to any other party resulting from Fraud or the willful and material breach by such party of any representation, warranty or covenant set forth in this Agreement, in which case the non-breaching party shall be entitled to all rights and remedies available at law or in equity (including, in the case of any such Fraud or willful and material breach by Parent or Merger Sub, damages payable to the Company based on the lost opportunity to receive the Merger Consideration that the Company Members would have received if the Merger were consummated in accordance with this Agreement). For the avoidance of doubt, (i) only the Company (and not the Company Members) may bring an action pursuing liability arising out of or resulting from such Fraud or willful and material breach and (ii) the Company may retain, without distribution to the Company Members, any such damages received by the Company in connection therewith. For purposes of the foregoing, a "willful and material breach" means an intentional and willful breach, or an intentional and willful material failure to perform, in each case, that is the consequence of an act or omission by a party with the knowledge that the taking of such act or failure to take such act would cause a breach of this Agreement.

Section 7.03 <u>Amendment; Extension; Waiver</u>. This Agreement may not be amended except by an instrument in writing signed on behalf of each of Parent, on the one hand, and the Company (or the Members' Representative, after the Closing), on the other hand; <u>provided</u> that after the Company Member Approval is obtained, if any such amendment shall by applicable Law require further approval of the Company Members, the effectiveness of such amendment shall be subject to the approval of the Company Members; <u>provided</u>, <u>further</u>, that any amendment affecting the rights and/or obligations of the Members' Representative shall be subject to the approval of the Members' Representative. Any agreement on the part of a party to any extension or waiver with respect to this Agreement shall be valid only if set forth in an instrument in writing signed on behalf of such party (which, in the case of an extension or waiver of any obligation of Parent following the Closing, shall be the Members' Representative). The failure of any party to this Agreement to assert any of its rights under this Agreement or otherwise shall not constitute a waiver of such rights.

Section 7.04 <u>Procedure for Termination, Amendment, Extension or Waiver</u>. A termination of this Agreement pursuant to <u>Section ‎7.01</u> or an amendment of this Agreement or an extension or waiver with respect to this Agreement pursuant to <u>Section 7.03</u> shall, in order to be effective, require, in the case of the Company prior to the Closing, action by its Board of Directors or the duly authorized designee of its Board of Directors. Termination of this Agreement pursuant to <u>Section ‎7.01</u> shall not require the approval of the Company Members, the stockholders of Parent or Parent as sole member of Merger Sub.

**ARTICLE VIII<br> GENERAL PROVISIONS**

Section 8.01 <u>Survival; Non-Recourse</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Merger is consummated, the representations and warranties given by the Company contained in this Agreement or in any instrument delivered pursuant to this Agreement shall expire and be of no further force or effect as of the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Merger is consummated, the representations and warranties given by Parent and Merger Sub contained in this Agreement or in any instrument delivered pursuant to this Agreement shall expire and be of no further force or effect as of the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The covenants, agreements and obligations of the Company contained in this Agreement or in any certificate delivered pursuant hereto or in connection herewith which contemplate performance prior to the Closing, shall expire and be of no further force or effect as of the Closing. The covenants, agreements and obligations of the parties hereto contained in this Agreement or in any certificate delivered pursuant hereto or in connection herewith, which contemplate performance following the Closing, shall survive the Closing and continue in full force until the earlier of (i) the completion of or performance or waiver thereof and (ii) the expiration of their applicable statute of limitations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) It is the express intent of the parties hereto that, if an applicable survival period as contemplated by this <u>Section **‎**8.01</u> is shorter or longer than the statute of limitations that would otherwise apply, then, by contract, the applicable statute of limitations shall be reduced or extended, as the case may be, to the survival period contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Confidentiality Agreement shall (i) survive termination of this Agreement in accordance with its terms and (ii) terminate as of the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) This Agreement may only be enforced against, and any Proceeding that may be based on this Agreement, arise out of this Agreement or related hereto or the negotiation, execution, performance or subject matter hereof may only be brought against, the parties hereto. No past, present or future affiliate, Equityholders or Representative of any party shall have any liability (whether in contract, tort, equity or otherwise) for any one or more of the representations, warranties, covenants, agreements or other obligations or liabilities of any party hereunder for any such Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Nothing in this <u>Section **‎**8.01</u> shall limit Parent's recourse against the R&W Policy, which shall be Parent's sole recourse for breaches of the representations and warranties given by the Company following the Closing.

Section 8.02 <u>Notices</u>. All notices, requests, claims, demands and other communications desired or required to be given under this Agreement shall be in writing and shall be given or made (a) by delivery in person, with receipt confirmed, (b) by a nationally recognized overnight courier service specifying next business day delivery (costs prepaid), or (c) by electronic mail, to the respective parties at the following addresses:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if to Parent or Merger Sub, to

CorMedix Inc.<br> 300 Connell Drive, Suite 4200<br> Berkeley Heights, NJ 07922<br> Attention: Joseph Todisco and Beth Zelnick Kaufman<br> Email: [\*\*\*]

with a copy (which shall not constitute notice) to:

Willkie Farr & Gallagher LLP<br> 787 7<sup>th</sup> Avenue<br> New York, New York 10019<br> Attention: Jared Fertman and Andrew Marmer<br> Email: jfertman@willkie.com; amarmer@willkie.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if to the Company, to

Melinta Therapeutics, LLC<br> 389 Interpace Parkway, Suite 450<br> Parsippany, NJ 07054<br> Attention: Christine Miller and Jennifer Sanfilippo<br> Email: [\*\*\*]

with a copy (which shall not constitute notice) to:

Fenwick & West LLP<br> 801 California Street<br> Mountain View, California 94041<br> Attention: Matthew Rossiter, Douglas N. Cogen and David K. Michaels

Email: MRossiter@fenwick.com; dcogen@fenwick.com; dmichaels@fenwick.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if to the Members' Representative, to

Deerfield Private Design Fund IV, L.P.<br> 345 Park Avenue South

New York, NY 10010<br> Attention: Sumner Anderson; Lawrence Atinsky; Bryan Sendrowski<br> Email: [\*\*\*]

with copies (which shall not constitute notice) to:

Fenwick & West LLP<br> 801 California Street<br> Mountain View, California 94041<br> Attention: Matthew Rossiter, Douglas N. Cogen and David K. Michaels<br> Email: MRossiter@fenwick.com; dcogen@fenwick.com; dmichaels@fenwick.com

and:

Katten Muchin Rosenman LLP

525 W. Monroe Street

Chicago, IL 60661

Attention: Mark D. Wood; Joshua A. Feiger

Email: mark.wood@katten.com; josh.feiger@katten.com

Section 8.03 <u>Definitions</u>. For purposes of this Agreement:

"**Accrued Income Taxes**" means the sum (which shall not be less than zero) of (a) all income Taxes of each member of the Company Group for any Pre-Closing Tax Period that are not yet paid (including such Taxes that are not yet due and payable) as of the Closing Date calculated on a jurisdiction-by-jurisdiction basis and (b) any income Taxes of a Person other than any member of the Company Group for which any member of the Company Group (or any predecessor) is liable (i) under Treasury Regulations Section 1.1502-6 (or any similar provision of state, local or non-U.S. Tax Law) as a result of having been a member of an affiliated, consolidated, combined, unitary or similar group (including any arrangement for group or consortium relief or similar arrangement) before the Closing or (ii) as a result of an express or implied obligation to indemnify such Person, as a transferee or successor, by Contract (other than a Contract entered into in the ordinary course of business and not primarily related to Taxes), by operation of Law or otherwise as a result of an event or transaction occurring before the Closing; <u>provided</u>, <u>however</u>, that (A) the amount of Accrued Income Taxes shall be determined by taking into account any estimated Tax payments and any overpayments of Taxes, net operating losses, Tax credits, or other Tax attributes that are available and usable in the relevant Pre-Closing Tax Period in accordance with applicable Law and using the conventions set forth in <u>Section 5.11(c)</u> hereof for any Straddle Tax Period, (B) shall be calculated by treating any success-based fees paid by the Company Group as deductible in accordance with the safe harbor election under Rev. Proc. 2011-29 and (C) the amount of Accrued Income Taxes shall not include any Taxes arising from or attributable to any action of Parent or any of its affiliates (including members of the Company Group) on the Closing Date after the Closing and outside the ordinary course of business or any election made under Section 338 or 336(e) of the Code (or any corresponding or similar provision of state, local or non-U.S. Tax law) with respect to the Merger.

"**Acquisition Proposal**" means any transaction or series of related transactions, including any offer or proposal, relating to (a) any merger, consolidation, share exchange, business combination, joint venture or other similar combination or transaction or recapitalization or reorganization involving any member of the Company Group, (b) any purchase of equity (shares) of any member of the Company Group, any sale or other transfer or disposition of all or a substantial portion of the assets of any member of the Company Group (other than (i) in the ordinary course of business consistent with past practice and (ii) the exercise of options to purchase Company Common Shares) or (c) any exclusive licensing, sublicensing, granting of a covenant not to sue, or otherwise conveying exclusive rights to any of the Company's material intellectual property rights to unaffiliated third parties, in each case other than a transaction between Parent and/or its subsidiaries, on the one hand, and the Company on the other hand.

"**Additional Consideration**" means any consideration that may become payable to the Equityholders pursuant to <u>Section 1.10(e)</u>, <u>Section 1.13(e)</u>, the Contingent Payment Agreement or the Equity Value Recognition Bonus Plan.

"**Adjusted Closing Cash Consideration**" means an amount in cash equal to (a) $260,000,000.00 <u>plus</u> (b) the Aggregate Exercise Price <u>plus</u> (c) Company Cash <u>minus</u> (d) Company Debt <u>plus</u> (e) the amount, if any, by which the Working Capital is greater than the Working Capital Target (<u>provided</u> that, if such amount is less than $100,000.00, then such amount shall be deemed to be $0) <u>minus</u> (f) the amount, if any, by which the Working Capital is less than the Working Capital Target (<u>provided</u> that, if such amount is less than $100,000.00, then such amount shall be deemed to be $0) <u>minus</u> (g) Transaction Expenses <u>minus</u> (h) the Adjustment Escrow Amount <u>minus</u> (i) the Members' Representative Reserve.

"**Adjustment Escrow Amount**" means $4,000,000.00 in cash.

An "**affiliate**" of any Person means another Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such first Person. As used herein, "**control**" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, whether through ownership of voting securities or other interests, by contract or otherwise.

"**Affordable Care Act**" means the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010, and the guidance and regulations issued thereunder.

"**Aggregate Exercise Price**" means, as of immediately prior to the Effective Time, the sum of the aggregate exercise prices of all outstanding Company Options that will be entitled to a portion of the Closing Cash Consideration pursuant to <u>Section 1.08(c)(i)(A)</u>.

"**Allocation Schedule**" means the schedule allocating the Merger Consideration among the Equityholders attached hereto as <u>Schedule 8.03(a)</u>, as such schedule may be updated by the Company prior to the Closing Date in accordance with <u>Section 5.04(g)</u>.

"**Ancillary Agreements**" means the Certificate of Merger, the Escrow Agreement, the Contingent Payment Agreement, any Closing Share Consideration Warrants, the Registration Rights Agreement, the Restrictive Covenant Agreements and each other agreement, document, instrument or certificate contemplated by this Agreement and executed or to be executed in connection with the Transactions.

"**Antitrust Laws**" means the Sherman Act, as amended, the Clayton Act, as amended, the HSR Act, the Federal Trade Commission Act, as amended, and all other federal, state or foreign statutes, rules, regulations, orders, decrees, administrative and judicial doctrines and other Laws, including, without limitation any antitrust, competition or trade regulation Laws, that are designed or intended to prohibit, restrict or regulate actions having the purpose or effect of monopolization or restraint of trade or lessening competition through merger or acquisition.

A "**business day**" means a day (a) other than Saturday or Sunday and (b) on which commercial banks are open for business in New York, New York.

"**Business Employee List**" shall have the meaning set forth in <u>Section 2.09(b)</u>.

"**Burdensome Condition**" means a material adverse impact on (a) the business, assets, financial condition or results of operations of the Company Group, taken as a whole, or (b) the business, assets, financial condition or results of operations of Parent and its affiliates, taken as a whole.

"**Change in Control Payment**" means any transaction, retention, change in control or similar bonuses, severance payments and other Company Service Provider-related change in control payments payable by any member of the Company Group as of or after the Closing Date (including the employer portion of any withholding, payroll, employment or similar Taxes, if any, associated therewith whether payable on the Closing Date or at a later time) as a result of the consummation of, or in connection with, the transactions contemplated by this Agreement. Notwithstanding anything herein to the contrary, a severance payment for a Company Service Provider (including the employer portion of any withholding, payroll, employment or similar Taxes, if any, associated therewith) that is triggered due to a termination at the request of Parent shall not be deemed a Change in Control Payment. Further, notwithstanding anything herein to the contrary, a severance payment for a Company Service Provider (including the employer portion of any withholding, payroll, employment or similar Taxes associated therewith) that is triggered by the occurrence of (a) the transactions contemplated by this Agreement, followed by (b) a subsequent termination at or after the Closing Date of such Company Service Provider's employment or engagement with any member of the Company Group shall not be deemed a Change in Control Payment, unless such Company Service Provider has the right to resign and collect severance as a result of the transactions contemplated by this Agreement without any additional act or omission by Parent or any of its affiliates.

"**Closing Cash Consideration**" means an amount in cash equal to (a) $260,000,000.00 <u>plus</u> (b) the Aggregate Exercise Price <u>plus</u> (c) the Estimated Company Cash <u>minus</u> (d) all Estimated Company Debt <u>plus</u> (e) the amount, if any, by which the Estimated Working Capital is greater than the Working Capital Target (<u>provided</u> that, if such amount is less than $100,000.00, then such amount shall be deemed to be $0) <u>minus</u> (f) the amount, if any, by which the Estimated Working Capital is less than the Working Capital Target (<u>provided</u> that, if such amount is less than $100,000.00, then such amount shall be deemed to be $0) <u>minus</u> (g) all Estimated Transaction Expenses <u>minus</u> (h) the Adjustment Escrow Amount <u>minus</u> (i) the Members' Representative Reserve.

"**Closing Debt**" means Company Debt for money borrowed, including all accrued interest and any prepayment or other penalties payable in connection with the repayment of such Company Debt, outstanding under the SVB Loan Agreement (as defined in the Company Disclosure Letter).

"**Closing Share Warrants**" means warrants to acquire Parent Shares, each in the form of <u>Exhibit M</u>.

"**Commercial Software License**" means any Contract that is "shrink wrap," any license for off-the-shelf, non-customized Software products, or computer services agreements (including agreements under which such Software is delivered as a service) made available on standard, unmodified terms, available at a cost of not more than $100,000 annually.

"**Commonly Controlled Entity**" means any Person that, together with any member of the Company Group, is, or was at the relevant time, treated as a single employer under Section 414 of the Code or that is, or was at the relevant time, a member of the same "controlled group" as the first entity, trade or business pursuant to Section 4001(a)(14) of ERISA.

"**Company Benefit Agreement**" means each employment, consulting, severance, retention, change in control or termination agreement or arrangement between any member of the Company Group, on the one hand, and any Company Service Provider, on the other hand, other than Contracts with health care providers unrelated to any Company Benefit Plan.

"**Company Benefit Plan**" means each "employee benefit plan" within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended ("**ERISA**") (whether or not subject to ERISA) and all other compensation and benefits plans, policies, trust funds, programs, arrangements or payroll practices, including Multiemployer Plans, and each other each bonus, pension, profit sharing, savings, retention, commission, collective bargaining, retirement, deferred compensation, incentive compensation, equity-based compensation, vacation, severance, change in control, disability, death benefit, hospitalization, medical, welfare, 401(k), bonus, dental, vision, fringe benefit, or other employee benefits plan, policy, program, arrangement or understanding, in each case sponsored, maintained or contributed to, or required to be sponsored, maintained or contributed to, by any member of the Company Group or any Commonly Controlled Entity for or to which any member of the Company Group or any Commonly Controlled Entity has any direct or indirect present, contingent or future liability.

"**Company Cash**" means the sum of (a) all of the Company Group's cash, cash equivalents and as of the Measurement Time, (b) the Prepaid API Inventory Amount, (c) the VAT Refund Amount and (d) any cash or cash equivalents securing rent obligations under the New Jersey Lease (as defined in the Company Disclosure Schedule). Other than set forth in the forgoing sentence, Company Cash shall be calculated in accordance with GAAP and shall include inbound wires in transit and checks and drafts deposited for the account of the Company Group but exclude (i) the amount of all uncleared checks, outstanding withdrawals or other debits and payments of the Company Group in transit and (ii) any cash and cash equivalents (1) designated (or that, pursuant to GAAP, should be designated) as restricted or otherwise unavailable cash on the balance sheet of the Company Group, (2) securing rent obligations, (3) held as collateral in respect of obligations to any other Person and (4) that is subject to withholding Tax on a distribution to its parent entity. Notwithstanding the foregoing, Company Cash shall take into account, and be reduced by, any applicable amounts distributed to Equityholders, utilized to repay any Company Debt, pay any Transaction Expenses or repurchase, redeem or otherwise acquire any securities of the Company or transferred outside the ordinary course of business, in each case, following the Measurement Time and prior to the Closing.

"**Company Common Shares**" means the Common Shares of the Company.

"**Company Debt**" means as of the Measurement Time, the sum, without duplication, of the Company Group's (a) indebtedness for money borrowed, including all accrued interest and any prepayment or other penalties payable in connection with the repayment of such Company Debt, (b) obligations for the deferred purchase price of property or services, including pursuant to any earn-out or similar obligation (other than current trade payables incurred in the ordinary course of business and payable in accordance with customary practices) or seller notes, (c) obligations for amounts drawn under any letter of credit, bond, debenture, promissory note, or other similar instrument, (d) obligations as lessee under any leases that have been or should be recorded as finance leases under GAAP (other than, for the avoidance of doubt, any real property leases or vehicle leases), (e) obligations in respect of interest rate and currency swaps, protection agreements, hedges, caps or collar agreements or similar arrangements either generally or under specific contingencies, (f) any unfunded or underfunded liabilities pursuant to any pension, retirement or nonqualified deferred compensation plan or arrangement, any contributions (other than an employee contribution) required to be made by any member of the Company Group under any Company Benefit Plan or Company Benefit Agreement that contains a cash or deferred arrangement intended to qualify under Section 401(k) of the Code for any periods prior to the Closing that have not been remitted to such plan prior to the Closing, and any unpaid severance obligations of any member of the Company Group with respect to Company Service Providers terminated by the Company prior to the Closing, in each case, together with the employer portion of any withholding, payroll, employment or similar Taxes, if any, associated therewith and only to the extent not otherwise reflected as Current Liabilities or as a Transaction Expense, (g) any of the foregoing owing by any other Person, if secured by (or for which the holder thereof has an existing right to be secured by) any Lien on property of the Company, and (h) guaranties of any of the foregoing. Notwithstanding the foregoing, Company Debt shall not include the TOPROL Change of Control Liability.

"**Company Equity Plan**" means the Company's 2020 Share Incentive Plan.

"**Company Fundamental Representations**" means, collectively, the representations and warranties made by the Company in <u>Section 2.01(a)</u> (*Organization, Standing and Power*), <u>Sections 2.02(a), 2.02(b), 2.02(d)</u> and <u>2.02(e)</u> (*Capital Structure*), <u>Section 2.03(e)</u> and <u>Section 2.03(f)</u> (*Subsidiaries*), <u>Sections ‎2.04(a)</u> and <u>2.04(b)</u> (*Authority; Execution and Delivery; Enforceability*), <u>Section 2.05(a)(i)</u> (*No Conflicts; Consents*), <u>Section ‎2.20</u> (*Brokers and Other Advisors*) and <u>Section 2.21</u> (*Transactions with Related Parties*).

"**Company Group**" means, collectively, the Company and each Company Subsidiary.

"**Company Licensed Products**" means the Company Products that the Company licenses the commercialization and distribution rights from Company Licensor, including (a) TOPROL-XL and TOPROL authorized generic products and (b) Rezzayo (rezafungin for injection) product.

"**Company Licensor**" means the owner of the Company Licensed Products.

"**Company IP**" means all Company Owned IP and all Intellectual Property used in or necessary to the conduct of its business as presently conducted by the Company that are exclusively licensed to any member of the Company Group.

"**Company Material Adverse Effect**" means any change, event, condition, state of facts, development, circumstance, effect or occurrence that (a) has had, or would reasonably be expected to have, a material adverse effect on the business, financial condition or results of operations of the Company Group or (b) prevents the Company from consummating the Transactions on or before the Outside Date; <u>provided</u> that, for purposes of clause (a), none of the following, and no change, event, condition, state of facts, development, circumstance, effect or occurrence that results from or arises in connection with the following, either alone or in combination, shall be deemed to constitute a Company Material Adverse Effect and none of the following shall be taken into account in determining whether there has been a Company Material Adverse Effect: any change, event, condition, state of facts, development, circumstance, effect or occurrence to the extent resulting from or arising in connection with (i) general conditions (or changes therein) in the industry in which the Company Group operates, (ii) general economic or regulatory, legislative or political conditions (or changes therein), including any actual or potential stoppage, shutdown, disputed election, default on obligations of any Governmental Entity or similar event or occurrence affecting a Governmental Entity, or securities, credit, banking, financial or other capital markets conditions (including changes generally in prevailing interest rates, currency exchange rates, credit markets or equity price levels, trading volumes or the imposition of new or increased tariffs), in each case in the United States or elsewhere in the world, (iii) any change or prospective change in applicable Law or GAAP (or the authoritative interpretation or enforcement thereof), (iv) geopolitical conditions, the outbreak or escalation of hostilities, any acts or threats of war (whether or not declared), sabotage, political unrest or conditions, terrorism or any pandemics or epidemics or any applicable Law, mandate or recommendations of a Governmental Entity in response such hostilities, war, sabotage, political unrest or conditions, terrorism, pandemics or epidemics, or any escalation or worsening of any such acts or threat of war (whether or not declared), sabotage, terrorism or any pandemics or epidemics, (v) any hurricane, tornado, flood, fire, volcano, earthquake or other natural or man-made disaster or any other national or international calamity, crisis or disaster, (vi) the failure, in and of itself, of the Company to meet any internal or external projections, forecasts, estimates or predictions in respect of any financial or operating metrics before, on or after the Agreement Date (it being understood that the underlying facts giving rise or contributing to such failure or change may be taken into account in determining whether there has been a Company Material Adverse Effect if such facts are not otherwise excluded under this definition), (vii) the announcement, pendency or performance of any of the Transactions, including the identity of, or any facts or circumstances relating to, Parent, Merger Sub or their respective affiliates and any proceedings by any Company Member in respect of this Agreement or any of the Transactions and any loss of or change in relationship, contractual or otherwise, with any customer, Governmental Entity, supplier, vendor, service provider, collaboration partner, licensor, licensees, payors, contractors or any other party having business dealings with (including the exercise, or prospective exercise, by any party of any rights that arise upon a change of control), or departure of any employees or officers, of the Company Group (<u>provided</u> that this clause (vii) shall not apply with respect to any representation or warranty the purpose of which is to address the consequences of the execution, delivery or performance of this Agreement or the consummation of the transactions contemplated hereby), (viii) any action taken by a member of the Company Group at Parent's written (including email) request or (ix) any recommendations, statements, decisions or other pronouncements made, published or proposed by licensing or accreditation bodies or payors, or any Governmental Entity or representative thereof, or any panel or advisory body empowered or appointed by any of the foregoing, except, in the case of clauses (i), (ii), (iii), (iv), (v) and (ix), to the extent that the Company Group is materially disproportionately affected thereby as compared with other participants in the industry in which the Company Group operates (in which case only the incremental disproportionate impact or impacts may be taken into account in determining whether there has been a Company Material Adverse Effect).

"**Company Members**" means (a) with respect to any time before the Effective Time, collectively, the holders of record of Company Shares outstanding as of such time and (b) with respect to any time at or after the Effective Time, collectively, the holders of record of Company Shares outstanding as of immediately prior to the Effective Time.

"**Company Option**" means any option to purchase Company Common Shares granted under the Company Equity Plan (or portion thereof, as applicable).

"**Company Optionholder**" means any holder of Company Options.

"**Company Owned IP**" means all Intellectual Property owned or purported to be owned by any member of the Company Group.

"**Company Owned Products**" means any of the Company Products that are not Company Licensed Products.

"**Company Preferred Shares**" means the Series A Preferred Shares of the Company.

"**Company Products**" means any of the Company's (a) Minocin (minocycline) for injection product, (b) Orbactiv (oritavancin) for injection product, (c) Kimyrsa (oritavancin) for injection product, (d) Vabomere (meropenem/vaborbactam) for injection product, (e) TOPROL-XL product and TOPROL authorized generic product, (f) Rezzayo (rezafungin) for injection product, (g) Baxdela (delafoxacin) tablet and (h) Baxdela (delafoxacin) for injection product.

"**Company Sales Incentive Plan**" means the Company's incentive plans, including (a) the Company's Sales Incentive Plan effective as of January 2025, (b) the Company's Market Access Incentive Compensation Plan 1H 2025 effective as of January 2025, (c) the Company's Q3 2025 Sales Incentive Plan for Regional Sales Directors, Senior Regional Sales Directors and Inside Sales Director effective as of July 2025, (d) the Company's Q3 2025 Sales Incentive Plan for Key Account Managers and Senior Key Account Managers and (e) any incentive plans that replace the Company Sales Incentive Plans in clauses (a) through (d) after the third quarter of 2025 on substantially the same terms as contemplated by Section 4.01(f) of the Company Disclosure Letter.

"**Company Service Provider**" means each individual who is a current or former director, officer, employee or independent contractor of any member of the Company Group.

"**Company Severance Plan**" means the Company's Severance Plan, as adopted on June 6, 2025.

"**Company Shares**" means each Company Common Share and Company Preferred Share.

"**Company Subsidiaries**" means (a) Melinta Subsidiary Corp., a Delaware corporation, (b) Rempex Pharmaceuticals, Inc., a Delaware corporation, (c) Targanta Therapeutics Corporation, a Delaware corporation, (d) CEM-102 Pharmaceuticals, Inc., a Delaware corporation and (e) Cempra Pharmaceuticals, Inc., a Delaware corporation.

"**Contract**" means, with respect to any Person, any legally binding contract (whether written or oral), lease, license, indenture, note, bond, agreement, concession, franchise or other instrument to which such Person or its subsidiaries is a party or by which any of their respective properties or assets is bound, but excluding purchase orders and sale orders.

"**Current Assets**" means the aggregate amount of the consolidated current assets of the Company Group as of the Measurement Time, but excluding any items included in Company Cash, deferred Tax assets and income Tax assets, and in each case, determined in accordance with the Working Capital Principles.

"**Current Liabilities**" means the aggregate amount of the consolidated current liabilities of the Company Group as of the Measurement Time, including Accrued Income Taxes and accruals for non-income Taxes (using the convention set forth in <u>Section 5.11(c)</u> in the case of any Straddle Tax Period) but excluding (a) any items included in Company Debt, (b) any Transaction Expenses, (c) any deferred revenue, (d) any outstanding obligations under any Lease and (e) any deferred Tax liabilities, in each case, determined in accordance with the Working Capital Principles.

"**Environmental Law**" means any Law, Judgment, consent, approval, order or Authorization, permit or other legal requirement of any Governmental Entity, including controlling common law, relating to (a) the protection, investigation, remediation or restoration of the environment, human health and safety, or natural resources or (b) the handling, use, storage, treatment, transport, disposal, Release or threatened Release of any Hazardous Substance.

"**ERC Payroll Tax Refund Amount**" means the aggregate value of the employee retention payroll Tax refund owed to the Company Group.

"**Equityholders**" means each Company Members and each Company Optionholder.

"**Equity Value Recognition Bonus Plan**" means the Equity Value Recognition Bonus Plan attached hereto as <u>Exhibit N</u>.

"**Exchange Act**" means the U.S. Securities Exchange Act of 1934, as amended.

"**FDA**" means the United States Food and Drug Administration.

"**FDCA**" means the U.S. Federal Food, Drug and Cosmetic Act of 1938, as amended.

"**Federal Health Care Program**" has the meaning specified in Section 1128B(f) of the Social Security Act and including, but not limited to, the Medicare, Medicaid and TRICARE programs.

"**Feptanbli License Agreement**" means that certain License Agreement, dated as of November 7, 2023, between the Company and Venatorx Pharmaceuticals, Inc., as amended by that certain First Amendment, dated as of February 20, 2025.

"**Feptanbli Product**" means the Product (as defined in the Feptanbli License Agreement) in the Territory (as defined in the Feptanbli License Agreement).

"**Fraud**" means with respect to a Person, an actual and intentional fraud with respect to the making of a representation and warranty pursuant to <u>Article ‎II</u> or <u>Article ‎III</u> (as applicable), with the express intention that another Person rely thereon to its detriment. For the avoidance of doubt, "Fraud" does not include constructive fraud, negligent misrepresentation, or omission, or any form of fraud premised on recklessness or negligence.

"**Good Clinical Practices**" means, with respect to the Company Group, the then-current standards for the design, conduct, performance, monitoring, auditing, recording, analysis, and reporting of clinical trials for pharmaceuticals (including all applicable requirements relating to protection of human subjects), as set forth in the FDCA and applicable regulations promulgated thereunder (including, for example, 21 C.F.R. Parts 11, 50, 54, 56, and 312), as amended from time to time, and applicable regulations, FDA final guidances, or guidelines from the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use.

"**Good Laboratory Practices**" means, with respect to the Company Group, the then-current standards for the conduct of pre-clinical laboratory studies, as set forth in the FDCA and applicable regulations promulgated thereunder, as amended from time to time, and applicable regulations (including 21 C.F.R. Parts 11 and 58) or guidelines from the Organisation for Economic Co-operation and Development.

"**Good Manufacturing Practices**" means, with respect to the Company Group, standards for the manufacture, processing, packaging, testing, transportation, handling, distribution and holding of drug products, as set forth in the FDCA and applicable regulations promulgated thereunder (including 21 C.F.R. Parts 210, 211, 601, and 610), as amended from time to time, and applicable regulations, FDA guidance, or guidelines from the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use.

"**Governmental Entity**" means any supranational, federal, national, state, municipal or local government, any court, tribunal, arbitrator, administrative agency, commission or other governmental official, authority or instrumentality, in each case whether domestic or foreign, any stock exchange or similar self-regulatory organization or any quasi-governmental or private body exercising any regulatory, Taxing or other governmental authority (including, as applicable, any governmental or political division, department, agency, commission, instrumentality, official, organization, unit, body or entity and any court, arbitrator or other similar tribunal).

"**Hazardous Substance**" means any pollutant, contaminant, hazardous substance, hazardous material, hazardous waste or petroleum products, and any other chemical waste, substance or material listed in or regulated or identified in any Environmental Law.

"**Health Laws**" means any Law of any Governmental Entity or Regulatory Authority (including multi-country organizations) applicable to any member of the Company Group (i) governing the research, development, approval, manufacture, pricing, pharmacovigilance, recordkeeping, distribution or marketing of drugs and the purchase or prescription of or reimbursement for drugs by any Governmental Entity or (ii) the purpose of which is to ensure the safety, efficacy and quality of pharmaceuticals by regulating the research, development, manufacturing, distribution and/or sale of these products, including, as applicable, (a) the FDCA and the regulations promulgated thereunder, (b) the Public Health Service Act (42 U.S.C. §§ 201 et seq.), and the regulations promulgated thereunder, (c) federal and state fraud and abuse Laws, including the Federal Anti-Kickback Statute (42 U.S.C. § 1320a-7b(b)), the civil False Claims Act (31 U.S.C. § 3729 et seq.), the administrative False Claims Law (42 U.S.C. § 1320a-7b(a)), the Program Fraud Civil Remedies Act, 31 U.S.C. §§ 3801-3812, the federal health care program civil monetary penalty (42 U.S.C. § 1320a-7a) and exclusion Laws (42 U.S.C. § 1320a-7) and the regulations promulgated pursuant to such statutes, (d) the federal Physician Payment Sunshine Act and state equivalents, (e) "Best Price" provisions of the Social Security Act and similar laws, (f) the Controlled Substances Act, (g) the Foreign Corrupt Practices Act, (h) the Patient Protection and Affordable Care Act of 2010, as amended by the Health Care and Education Reconciliation Act of 2010 (42 U.S.C. § 18001 et seq.), (i) federal Medicare and Medicaid statutes (Title XVIII of the Social Security Act, 42 U.S.C. §§ 1395-1395lll, and Title XIX of the Social Security Act, 42 U.S.C. §§ 1396-1396w-5), and the regulations promulgated thereunder(j) the Federal Trade Commission Act, (k) the Inflation Reduction Act (Pub. L. No. 117-169 (2022)), (l) all applicable laws, rules, regulations, final guidance, orders, judgments, decrees and injunctions administered by the FDA and other applicable Regulatory Authorities, including those governing or relating to clinical studies, laboratory studies, recordkeeping, manufacturing, testing, development, approval, processing and use of any product, including but not limited to FDA's regulations at 21 C.F.R. Parts 11, 50, 54, 56, 58, 210, 211, 312, 600 and 610, each as may be amended from time to time, (m) all applicable Laws and Orders administered by the FDA and other applicable Governmental Entities, including those governing Good Clinical Practices, Good Laboratory Practices, and Good Manufacturing Practices, as well as any related licensure Laws, (n) the Animal Welfare Act, (o) state board of pharmacy Laws, (p) the collection and reporting requirements, and the processing of any applicable rebate, chargeback or adjustment, under applicable Laws relating to the Medicaid Drug Rebate Program (42 U.S.C. § 1396r-8) and any state supplemental rebate program, Medicare average sales price reporting (42 U.S.C. § 1395w-3a), the Public Health Service Act (42 U.S.C. § 256b), the VA Federal Supply Schedule (38 U.S.C. § 8126), the Medicare Part D Coverage Gap Discount Program and Manufacturer Discount Program (42 U.S.C. 1395w-114 et seq.), the Branded Prescription Drug Fee pursuant to Section 9008 of the Patient Protection and Affordable Care Act (ACA), Public Law 111-148 (124 Stat. 119 (2010)), as amended by section 1404 of the Health Care and Education Reconciliation Act of 2010 (HCERA), Public Law 111-152 (124 Stat. 1029 (2010)) or under any state pharmaceutical assistance program or U.S. Department of Veterans Affairs agreement, any state drug transparency or other government price reporting Laws and any successor government programs, and (q) any similar international, federal, state and local Laws that address the subject matter of the foregoing, in each case as amended.

"**HIPAA**" means, collectively, the Health Insurance Portability and Accountability Act of 1996, Public Law 104-191, as amended by the Health Information Technology for Economic and Clinical Health Act, and regulations promulgated thereunder.

"**Immaterial IP Contract**" means any and all (a) Commercial Software Licenses, (b) Contracts with any employees, contractors or service providers of any member of the Company Group or any other Contracts entered into in the ordinary course of business, in each case, that do not include a transfer of ownership of, or grant of rights to use for the development, supply, manufacturing or commercialization of products under, any material Company Owned IP by any member of the Company Group (other than on behalf of or for the benefit of any member of the Company Group), (c) materials transfer agreements entered into in the ordinary course of business, (d) non-disclosure agreements, (e) licenses for Open-Source Software, (f) non-exclusive licenses or rights granted by any member of the Company Group in connection with the sale of products (including Company Products) to customers, end users or distributors of any member of the Company Group entered into in the ordinary course of business and (g) licenses granted under, or transfers of ownership of, incidental Intellectual Property (e.g., licenses under (or transfers of ownership of) rights in feedback, non-exclusive licenses granted solely for the provision of services to or by a member of the Company Group).

"**Intellectual Property**" means all intellectual property rights, whether protected, created or arising under the Laws of the United States or any other jurisdiction, including: (a) all patents, industrial designs, patent applications, provisional patent applications and similar instruments (including any and all substitutions, divisions, continuations, continuations-in-part, divisions, reissues, renewals, and extensions and any foreign equivalents of the foregoing (including certificates of invention, supplementary protection certificates and any applications therefor)) (collectively, "**Patents**"), (b) all domestic and foreign copyrights, copyright registrations, copyright applications and all moral rights related thereto (collectively, "**Copyrights**"), (c) all trademarks, service marks, trade names, business marks, service names, brand names, trade dress rights, logos, slogans, corporate names, and other indications of origin, together with all translations, adaptations, derivations and combinations thereof (including all applications, registrations, renewals and extensions of the foregoing) along with all goodwill associated with each of the foregoing (collectively, "**Trademarks**"), (d) all Internet domain names, (e) trade secrets ("**Trade Secrets**"), (f) intellectual property rights in proprietary know-how, inventions (whether or not patentable), improvements, methodologies, customer and supplier lists, database rights, discoveries, ideas, models, algorithms, blueprints, formulae, systems, processes, data compilations, tools, specifications, and technology and (g) all other intellectual property rights throughout the world equivalent or similar to any of the foregoing.

"**IRS**" means the U.S. Internal Revenue Service.

"**knowledge**" means (a) in the case of the Company, the actual knowledge, as of the Agreement Date, of the individuals listed in Section 8.03(i) of the Company Disclosure Letter after reasonable inquiry and (b) in the case of Parent, the actual knowledge, as of the Agreement Date, of the individuals listed in Section 8.03 of the Parent Disclosure Letter after reasonable inquiry.

"**made available**" means (unless otherwise specified), with respect to a particular document, item or other piece of information, (a) inclusion and availability in the virtual data room hosted by Venue by DFIN in connection with the Transactions on or prior to 11:59 p.m. Eastern time on the day that is two (2) days prior to the Agreement Date or (b) identified in Section 8.03(ii) of the Company Disclosure Letter.

"**Measurement Time**" means 12:01 a.m. New York City time, on the Closing Date.

"**Members' Representative Reserve**" means an amount equal to $400,000.

"**Merger Consideration**" means the Closing Cash Consideration, the Closing Share Consideration, any Additional Consideration that becomes payable in accordance with the terms and conditions of this Agreement, and any additional amounts that become payable in accordance with the terms and conditions of the Contingent Payment Agreement.

"**Multiemployer Plan**" means each Plan that is a "multiemployer plan" as defined in Section 3(37) or 4001(a)(3) of ERISA or Section 414(f) of the Code.

"**Nasdaq**" means the Nasdaq Stock Market LLC.

"**Open-Source Software**" means any Software licensed, provided, or distributed under any open-source or substantially similar license, including any license meeting the Open Source Definition (as promulgated by the Open Source Initiative) or the Free Software Definition (as promulgated by the Free Software Foundation).

"**Option Treatment Agreement**" means an agreement substantially in the form attached hereto as <u>Exhibit O</u>.

"**Order**" means any order, injunction, judgment, doctrine, decree, ruling, writ, assessment or arbitration award of a Governmental Authority, including any arbitration award.

"**ordinary course of business**" means the ordinary course of business of the Company Group, consistent with past practice.

"**Parent Material Adverse Effect**" means any change, event, condition, state of facts, development, circumstance, effect or occurrence that (a) has had, or would reasonably be expected to have, a material adverse effect on the business, financial condition or results of operations of Parent and its subsidiaries, taken as a whole, or (b) prevents Parent from consummating the Transactions on or before the Outside Date; <u>provided</u> that, for purposes of clause (a), none of the following, and no change, event, condition, state of facts, development, circumstance, effect or occurrence that results from or arises in connection with the following, either alone or in combination, shall be deemed to constitute a Parent Material Adverse Effect and none of the following shall be taken into account in determining whether there has been a Parent Material Adverse Effect: any change, event, condition, state of facts, development, circumstance, effect or occurrence to the extent resulting from or arising in connection with (i) general conditions (or changes therein) in the industry in which Parent operates, (ii) general economic or regulatory, legislative or political conditions (or changes therein), including any actual or potential stoppage, shutdown, disputed election, default on obligations of any Governmental Entity or similar event or occurrence affecting a Governmental Entity, or securities, credit, banking, financial or other capital markets conditions (including changes generally in prevailing interest rates, currency exchange rates, credit markets or equity price levels, trading volumes or the imposition of new or increased tariffs), in each case in the United States or elsewhere in the world, (iii) any change or prospective change in applicable Law or GAAP (or the authoritative interpretation or enforcement thereof), (iv) geopolitical conditions, the outbreak or escalation of hostilities, any acts or threats of war (whether or not declared), sabotage, political unrest or conditions, terrorism or any pandemics or epidemics or any applicable Law, mandate or recommendations of a Governmental Entity in response such hostilities, war, sabotage, political unrest or conditions, terrorism, pandemics or epidemics, or any escalation or worsening of any such acts or threat of war (whether or not declared), sabotage, terrorism or any pandemics or epidemics, (v) any hurricane, tornado, flood, fire, volcano, earthquake or other natural or man-made disaster or any other national or international calamity, crisis or disaster, (vi) the failure, in and of itself, of Parent to meet any internal or external projections, forecasts, estimates or predictions in respect of any financial or operating metrics before, on or after the Agreement Date (it being understood that the underlying facts giving rise or contributing to such failure or change may be taken into account in determining whether there has been a Parent Material Adverse Effect if such facts are not otherwise excluded under this definition), (vii) the announcement, pendency or performance of any of the Transactions, including the identity of, or any facts or circumstances relating to, the Company or its affiliates and any proceedings by Parent or its subsidiaries in respect of this Agreement or any of the Transactions and any loss of or change in relationship, contractual or otherwise, with any customer, Governmental Entity, supplier, vendor, service provider, collaboration partner, licensor, licensees, payors, contractors or any other party having business dealings with (including the exercise, or prospective exercise, by any party of any rights that arise upon a change of control), or departure of any employees or officers, of Parent or its subsidiaries (<u>provided</u> that this clause (vii) shall not apply with respect to any representation or warranty the purpose of which is to address the consequences of the execution, delivery or performance of this Agreement or the consummation of the transactions contemplated hereby), (viii) any recommendations, statements, decisions or other pronouncements made, published or proposed by licensing or accreditation bodies or payors, or any Governmental Entity or representative thereof, or any panel or advisory body empowered or appointed by any of the foregoing, or (ix) any action taken by Parent or its affiliates at the Company's written (including email) request, except, in the case of clauses (i), (ii), (iii), (iv), (v) and (viii), to the extent that Parent and its subsidiaries are materially disproportionately affected thereby as compared with other participants in the industry in which Parent operates (in which case only the incremental disproportionate impact or impacts may be taken into account in determining whether there has been a Parent Material Adverse Effect).

"**Parent Share Amount**" means (a) $40,000,000 <u>divided by</u> (b) the Parent Share Price, rounded to the nearest whole number.

"**Parent Share Price**" means an amount equal to arithmetic average of the volume weighted average closing price of Parent Shares per share on the Nasdaq Global Market (as reported by Bloomberg Finance L.P. or another reputable source mutually agreeable to Parent and the Company) on each of the Trading Days during the three (3) consecutive Trading Day period ending on, and including, the Trading Day immediately prior to the Agreement Date. In the event that a Stock Event is consummated during any period for which the arithmetic average of the volume weighted average prices is to be determined, the volume weighted average price for all Trading Days during such period prior to the effectiveness of the Stock Event shall be appropriately adjusted to reflect such Stock Event.

"**Parent Shares**" means common shares, par value $0.001 per share, of CorMedix Inc.

"**Permitted Lien**" means (a) a Lien securing indebtedness for borrowed money, (b) a defect or irregularity in title (except if such Lien relates to Intellectual Property or Leased Real Property), (c) an easement or right-of-way for real property, (d) Liens for Taxes not yet due and payable, (e) non-exclusive licenses of Intellectual Property that is owned or licensed by any member of the Company Group granted for a limited duration in the ordinary course of business (to the extent such agreement does contain a lien, pledge, mortgage, deed of trust, security interest, charge, easement, encroachment or other similar encumbrance) and/or (f) other similar matters that would not reasonably be expected to, individually or in the aggregate, materially impair the continued use and operation of the assets to which they relate in the business of the Company.

"**Person**" means any individual, firm, corporation, partnership, company, limited liability company, estate, trust, joint venture, association, organization, Governmental Entity or other entity of any kind or nature.

"**Personal Data**" means any information that is otherwise considered "personally identifiable information," "personal information," "personal data," "protected health information," "nonpublic personal information," "individually identifiable health information," or other analogous term under applicable Privacy Laws.

"**Pre-Closing Tax Period**" means any Tax period ending on or prior to the Closing Date and the portion of any Straddle Tax Period ending on (and including) the Closing Date.

"**Prepaid API Inventory Amount**" means the value of the Company's historical cash deposits for vaborbactam, the active pharmaceutical ingredient used to produce Vabomere.

"**Privacy Laws**" means (a) each applicable Law related to the protection or Processing or both of Personal Data, and includes, as applicable: the California Consumer Privacy Act of 2018 as amended by the California Privacy Rights Act of 2020, and HIPAA, or (b) mandatory guidance issued by a Governmental Entity that pertains to one of the laws, rules or regulations outlined in clause (a), in each case relating to the processing of Personal Data.

"**Privacy Policy**" means any written privacy or data security policy of the Company that governs or purports to describe the practices of the Company with respect to the collection, storage, processing, use, transfer or deletion of the Company's Personal Data.

"**Privacy Requirements**" means (a) Privacy Laws, (b) Privacy Policies, (c) Contracts insofar as they relate to the collection, handling, Processing, storage, and security of Company Personal Data, and (d) any industry standards or self-regulatory guidance as may be binding on the Company.

"**Processing"** means any operation or set of operations that is performed upon Personal Data, whether or not by automated means, such as collection, recording, organization, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, blocking, erasure or destruction or any other operation that is otherwise considered "processing" or similar term under applicable Privacy Laws.

"**Promised Equity Bonus**" means, with respect to each Promised Equity Grantee, a bonus payable to such Promised Equity Grantee in an amount and upon such terms and conditions as set forth in a Promised Equity Cancellation Agreement with such Promised Equity Grantee.

"**Promised Equity Cancellation Agreement**" means an agreement substantially in the form attached hereto as <u>Exhibit P</u>.

"**Regulatory Authority**" means any Governmental Entity, including, but not limited to/without restriction, the FDA, with responsibility for granting any license, registrations or approvals with respect to the Company Products, and the U.S. Department of Health and Human Services, and the Centers for Medicare and Medicaid Services.

"**Related Party**" means (a) each Person who is, or who was at the time of the entry into the transactions or the creation of the interest in question a director (or similar position), officer or employee of any member of the Company Group, or who, beneficially or of record, held shares or other equity interests in any member of the Company Group, or who served as a director (or similar position), officer or employee of a Person who, beneficially or of record, owned shares or other equity interests in any member of the Company Group (the Persons referred to in clause (a), the "**Related Service Providers**"), (b) each member of the immediate family of each of the Persons referred to in clause (a) above (the Persons referred to in clause (b), the "**Immediate Family of Related Service Providers**") and (c) each Person that is, or that was at the time of the entry into the transactions or the creation of the interest in question, an affiliate of the Persons referred to in clause (a) above (the Persons referred to in clause (c), the "**Related Affiliates**").

"**Release**" means any release, spill, emission, discharge, leaking, pumping, injection, deposit, disposal, dispersal, leaching, migration, or other movement or presence in, into or through the indoor or outdoor environment (including ambient air, surface water, groundwater and surface or subsurface strata) or at or from any property.

"**Representative**" of any Person means such Person's officers, directors, employees, investment bankers, attorneys, other advisors or other representatives acting in the scope of his, her or its service to such Person.

"**Restrictive Covenant Agreements**" means those certain Restrictive Covenant Agreements in the form attached hereto as <u>Exhibit Q-1</u> and <u>Exhibit Q-2</u> to be entered into by Parent and the parties thereto.

"**Sanctioned Country**" means any country or region that is, or has been in the last five (5) years, the subject or target of a comprehensive embargo under Sanctions Laws (including, without limitation, Cuba, Iran, North Korea, Sudan, Syria, and the Crimea region of Ukraine).

"**Sanctioned Person**" means any Person that is the subject or target of sanctions or restrictions under Sanctions Laws or Export Control Laws, including: (i) any Person listed on any applicable U.S. or non-U.S. sanctions- or export-related restricted party list, including, without limitation, the U.S. Department of the Treasury Office of Foreign Assets Control's Specially Designated Nationals and Blocked Persons List; (ii) any entity that is, in the aggregate, fifty (50) percent or greater owned, directly or indirectly, or otherwise controlled by a Person or Persons described in clause (i); or (iii) any national of a Sanctioned Country.

"**SEC**" means the U.S. Securities and Exchange Commission.

"**Securities Act**" means the U.S. Securities Act of 1933, as amended.

"**Security Incident**" means the unauthorized access to, acquisition of, failures, crashes, unavailability, disclosure, use, destruction or loss of Company Personal Data or incidents related to Company Personal Data that result in the compromise of Company Personal Data.

"**Software**" means (a) all computer programs, whether in source code or object code including assemblers, applets, compilers, source code, object code, binary libraries user interfaces, and apps, and (b) all associated documentation, including user manuals, in any form or format, however fixed and other training documentation, related thereto.

"**Solvent**" means, with respect to any Person, that, as of the date of determination, both (a) (i) the sum of such Person's debt (including contingent liabilities) does not exceed the present fair saleable value of such Person's present assets, (ii) such Person's capital is not unreasonably small in relation to its business and (iii) such Person has not incurred and does not intend to incur, or believe (nor should it reasonably believe) that it will incur, debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise); and (b) such person is "solvent" within the meaning given that term and similar terms under the U.S. Bankruptcy Code and applicable laws relating to fraudulent transfers and conveyances.

"**Straddle Tax Period**" means any Tax period that includes (but does not end on) the Closing Date.

"**Stock Event**" means any stock split or other subdivision of outstanding Parent Shares, combination of outstanding Parent Shares (including by reverse stock split), reclassification, payment of a stock dividend in Parent Shares, recapitalization, or other similar transaction of such character that Parents Shares shall be changed into or become exchangeable for a larger or smaller number of Parent Shares.

"**subsidiary**" of any Person means another Person, an amount of the voting securities, other voting ownership or voting partnership interests of which is sufficient to elect at least a majority of its Board of Directors or other governing body (or, if there are no such voting interests, 50% or more of the equity interests of which) is owned directly or indirectly by such first Person.

"**Tax Authority**" means any Governmental Entity responsible for the imposition, collection or administration of any Tax.

"**Tax Return**" means all Tax returns, declarations, reports, schedules, forms, claims for refund, information returns or other documents relating to Taxes, and any amendment or supplement thereof or attachment thereto, filed or required to be filed with any Tax Authority with respect to Taxes.

"**Taxes**" means any and all domestic or foreign, federal, state, or local taxes, charges, fees, levies, imposts, duties and governmental fees or other like assessments or charges that are in the nature of a tax, including income taxes (whether imposed on or measured by net income, gross income, income as specially defined, earnings, profits, or selected items of income, earnings, profits, or financial accounting profits), capital taxes, gross receipts taxes, sales taxes, use taxes, value added taxes, goods and services taxes, transfer taxes, franchise taxes, license taxes, withholding taxes, payroll taxes, employment taxes, excise taxes, severance taxes, social security premiums, workers' compensation premiums, employment insurance or compensation premiums, stamp taxes, occupation taxes, premium taxes, ad valorem taxes, property taxes, unclaimed property, escheat, windfall profits taxes, alternative or add-on minimum taxes, and customs duties, in each case whether disputed or not, and such term shall include any interest whether paid or received, fines, penalties or additional amounts attributable to, or imposed upon, or with respect to, any such taxes, charges, fees, levies or other assessments, or because of any failure to file any Tax Return in a timely, complete or correct manner.

"**TOPROL Change of Control Liability**" means the Purchase Price (as defined in the TOPROL Acquisition Agreement.

"**Trading Day**" means each such day on which the Nasdaq Global Market is open for trading.

"**Transaction Expenses**" means, without duplication, to the extent unpaid as of immediately prior to the Effective Time, all third-party fees, costs, expenses, payments and expenditures incurred by or on behalf of the Company Group in connection with the Merger, this Agreement, any Ancillary Agreement and the Transactions, whether or not incurred, billed or accrued, including (a) any fees, costs, expenses, payments and expenditures of legal counsel and accountants, (b) the fees costs, expenses, payments and expenditures payable to brokers, finders, financial advisors, investment bankers or similar Persons, (c) all Change in Control Payments, (d) all Promised Equity Bonuses and (e) the employer portion of any withholding, payroll, employment or similar Taxes payable with respect to each Promised Equity Bonus and all Compensation Payments to be paid pursuant to <u>Section 1.08(c)(i)(A)</u>; <u>provided</u> that, notwithstanding the foregoing, Transaction Expenses shall not include (A) the costs and expenses of the Escrow Agent, (B) the TOPROL Change of Control Liability, (C) the 2025 Annual Bonuses or (D) severance payments that are not Change in Control Payments.

"**VAT Refund Amount**" means the cash on the balance sheet of the Company but restricted pursuant to (i) that certain Bank Guarantee for Early VAT Refund No. 896BGC2102062, dated as of October 26, 2021, from the Company in favor of dell'Agenzia delle Entrate - Direzione Provinciale di Mantova - Ufficio Territoriale di Mantova in an amount equal to € 63.584,71, (ii) that certain Bank Guarantee for Early VAT Refund No. 896BGC2102063, dated as of October 26, 2021, from the Company in favor of dell'Agenzia delle Entrate - Direzione Provinciale di Mantova - Ufficio Territoriale di Mantova. in an amount equal to € 192.359,64, (iii) that certain Bank Guarantee for Early VAT Refund No. 896BGC2102064, dated as of October 26, 2021, from the Company in favor of dell'Agenzia delle Entrate - Direzione Provinciale di Mantova - Ufficio Territoriale di Mantova. in an amount equal to € 61.151,06 and (iv) that certain Bank Guarantee for Early VAT Refund No. 896BGC2102065, dated as of October 26, 2021, from the Company in favor of dell'Agenzia delle Entrate - Direzione Provinciale di Mantova - Ufficio Territoriale di Mantova in an amount equal to € 164.855,40.

"**Unvested Company Options**" means all Company Options that are (a) unexpired, unexercised and outstanding immediately prior to the Effective Time and (b) not Vested Company Options.

"**Vested Company Options**" means all Company Options that are vested under the terms of the Contract governing such Company Option between the Company and the holder of such Company Option.

"**WARN Act**" means the Worker Adjustment and Retraining Notification Act, 29 U.S.C. § 2109 *et seq*., and the regulations promulgated thereunder.

"**Working Capital**" means, as of the Measurement Time, an amount equal to Current Assets <u>minus</u> Current Liabilities calculated in accordance with the Working Capital Principles. <u>Exhibit R</u> represents an illustrative calculation of Working Capital as of June 30, 2025.

"**Working Capital Principles**" means GAAP, using and applying the same accounting principles, practices, methodologies and procedures used by the Company in the preparation of the Financial Statements in respect of the fiscal quarters ended March 31, 2025 and June 30, 2025 and in the determination of the Working Capital Target; <u>provided</u> that (i) if such accounting principles, practices, methodologies and procedures are inconsistent with GAAP in effect as of the Closing Date, then GAAP shall control and (ii) if such accounting principles, practices, methodologies and procedures are inconsistent with the defined terms contained in this Agreement, then the defined terms contained in this Agreement shall control.

"**Working Capital Target**" means $22,030,999.

An index of terms defined herein but not set forth in this <u>Section 8.03</u> is attached hereto as <u>Schedule 8.03(b)</u>.

Section 8.04 <u>Interpretation</u>. The headings contained in this Agreement and in the table of contents to this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any terms used in the Company Disclosure Letter, any Exhibit or any certificate or other document made or delivered pursuant hereto but not otherwise defined therein shall have the meaning as defined in this Agreement. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The word "will" shall be construed to have the same meaning as the word "shall". The words "include", "includes" and "including" shall be deemed to be followed by the phrase "without limitation". The word "extent" in the phrase "to the extent" shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply "if". The phrase "date hereof" shall be deemed to refer to the Agreement Date. All references to "dollars" or "$" shall refer to the lawful currency of the United States. Unless the context requires otherwise (a) any definition of or reference to any Contract, instrument or other document or any Law herein shall be construed as referring to such Contract, instrument or other document or Law as from time to time amended, supplemented or otherwise modified, (b) any reference herein to any Person shall be construed to include such Person's successors and assigns, (c) the words "hereby", "herein", "hereof" and "hereunder", and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof and (d) all references herein to Articles, Sections and Exhibits shall be construed to refer to Articles and Sections of, and Exhibits to, this Agreement. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting or causing any instrument to be drafted. The parties hereto have participated jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

Section 8.05 <u>Severability</u>. If any term or provision of this Agreement is determined by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced by any rule or law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to affect the original intent of the parties as closely as possible in an acceptable manner to the end that Transactions are fulfilled to the extent possible.

Section 8.06 <u>Counterparts</u>. This Agreement may be executed in one or more counterparts, all of which shall be deemed an original and all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic image scan transmission, each of which shall be deemed an original, shall be effective as delivery of a manually executed counterpart of this Agreement.

Section 8.07 <u>Entire Agreement; Third-Party Beneficiaries; No Other Representations or Warranties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement, the Ancillary Agreements and the Confidentiality Agreement (including all Exhibits, Annexes or Schedules hereto and thereto) (i) constitute the entire agreement, and supersede all prior agreements and understandings, both written and oral, among the parties and their affiliates, or any of them, with respect to the subject matter of this Agreement, the Ancillary Agreements and the Confidentiality Agreement and (ii) except for <u>Section **‎**5.09</u> and <u>Section 5.11</u> and subject to <u>Section 7.02</u>, are not intended to confer upon any Person other than the parties hereto any rights or remedies. Notwithstanding clause (ii) of the immediately preceding sentence, (x) following the Effective Time the provisions of <u>Article **‎**I</u> shall be enforceable by the Equityholders to the extent necessary to receive the Merger Consideration to which such holders are entitled to thereunder and (y) <u>Section 5.05(d)</u> (solely with respect to the Equity Value Recognition Bonus Plan) shall be for the benefit of, and enforceable by, the Administrator (as defined in the Equity Value Recognition Bonus Plan).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of Parent and Merger Sub acknowledges that neither the Company nor any Person on behalf of the Company makes, and neither Parent nor Merger Sub is relying on, any express or implied representation or warranty with respect to the Company or with respect to any other information made available to Parent or Merger Sub in connection with the Transactions (including with respect to the accuracy or completeness thereof), other than the representations and warranties contained in <u>Article **‎**II</u> or in any Ancillary Agreement or certificate delivered hereunder. In connection with the due diligence investigation of the Company by Parent and Merger Sub, Parent and Merger Sub have received and may continue to receive from the Company certain estimates, projections, forecasts and other forward-looking information, as well as certain business plans and cost-related plan information, regarding the Company's business and operations. Parent and Merger Sub hereby acknowledge that there are uncertainties inherent in attempting to make such estimates, projections, forecasts and other forward-looking information, with which Parent and Merger Sub are familiar, that Parent and Merger Sub are making their own evaluation of the adequacy and accuracy of all estimates, projections, forecasts and other forward-looking information, as well as such business plans and cost-related plans, furnished to them (including the reasonableness of the assumptions underlying such estimates, projections, forecasts, forward-looking information, business plans or cost-related plans), and that neither Parent nor Merger Sub has relied upon the Company or its equityholders, directors, officers, employees, affiliates, advisors, agents or other Representatives, or any other Person, with respect thereto. Accordingly, each of Parent and Merger Sub hereby acknowledge that neither the Company nor its equityholders, directors, officers, employees, affiliates, advisors, agents or other Representatives, nor any other Person, has made or is making any representation or warranty or has or shall have any liability (whether pursuant to this Agreement, in tort or otherwise) with respect to such estimates, projections, forecasts, forward-looking information, business plans or cost-related plans (including the reasonableness of the assumptions underlying such estimates, projections, forecasts, forward-looking information, business plans or cost-related plans).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company acknowledges that none of Parent, Merger Sub or any other Person on behalf of Parent or Merger Sub makes, and the Company is not relying on, any express or implied representation or warranty with respect to Parent or Merger Sub or with respect to any other information made available to the Company in connection with the Transactions (including with respect to the accuracy or completeness thereof), other than the representations and warranties contained in <u>Article **‎**III</u> or in any Ancillary Agreement or certificate delivered hereunder. In connection with the due diligence investigation of the Company by Parent and Parent by the Company and the Member's Representative, Parent, the Company and the Member's Representative have received and may continue to receive from the Company or Parent or Merger Sub, as applicable, certain estimates, projections, forecasts and other forward-looking information, as well as certain business plans and cost-related plan information, regarding the Company's or Parent's, as applicable, business and operations. Parent, the Company and the Member's Representative hereby acknowledge that there are uncertainties inherent in attempting to make such estimates, projections, forecasts and other forward-looking information, with which Parent, the Company and the Member's Representative are familiar, that Parent, the Company and the Member's Representative are making their own evaluation of the adequacy and accuracy of all estimates, projections, forecasts and other forward-looking information, as well as such business plans and cost-related plans, furnished to them (including the reasonableness of the assumptions underlying such estimates, projections, forecasts, forward-looking information, business plans or cost-related plans), and that none of Parent, the Company and the Member's Representative has relied upon the Company or Parent, as applicable, or its respective equityholders, directors, officers, employees, affiliates, advisors, agents or other Representatives, or any other Person, with respect thereto. Accordingly, each of Parent, the Company and the Member's Representative hereby acknowledge that neither the Company or Parent, as applicable, nor its respective equityholders, directors, officers, employees, affiliates, advisors, agents or other Representatives, nor any other Person, has made or is making any representation or warranty or has or shall have any liability (whether pursuant to this Agreement, in tort or otherwise) with respect to such estimates, projections, forecasts, forward-looking information, business plans or cost-related plans (including the reasonableness of the assumptions underlying such estimates, projections, forecasts, forward-looking information, business plans or cost-related plans).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything in this Agreement to the contrary, each party hereto agrees, on behalf of itself and its affiliates, that, except in the case of Fraud, all proceedings, claims, obligations, liabilities or causes of action (whether in Contract or in tort, in law or in equity or otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate, limited partnership or limited liability company veil or any other theory or doctrine, including alter ego or otherwise) that may be based upon, in respect of, arise under, out or by reason of, be connected with, or relate to (i) this Agreement or any Ancillary Agreement or the Transactions, (ii) the negotiation, execution or performance of this Agreement or Ancillary Agreement (including any representation or warranty made in, in connection with, or as an inducement to, this Agreement or any Ancillary Agreement), (iii) any breach or violation of this Agreement or any Ancillary Agreement and (iv) any failure of the transactions contemplated by this Agreement or under any Ancillary Agreement (including any agreement in respect of financing obtained in connection with this Agreement) to be consummated, in each case, may be made only against (and are those solely of) the Company, Parent and Merger Sub (and with respect to each Ancillary Agreement, the Persons that are expressly identified as a party to such Ancillary Agreement) and, in accordance with, and subject to the terms and conditions of this Agreement (or the terms of any such Ancillary Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Nothing set forth in this Agreement shall limit the rights of any Person against any other Person with respect to Fraud by such other Person.

Section 8.08 <u>Governing Law</u>. This Agreement shall be governed by, and construed in accordance with, and all disputes arising out of or in connection with this Agreement or the Transactions shall be resolved under, the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws of any jurisdiction.

Section 8.09 <u>Assignment</u>. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of law or otherwise by any of the parties hereto without the prior written consent of (a) Parent, in the case of any such attempted assignment by the Company or (b) if prior to the Closing, the Company, or, if after the Closing, the Members' Representative, in the case of any such attempted assignment by Parent or Merger Sub.

Section 8.10 <u>Specific Enforcement; Jurisdiction</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The parties acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with its specific terms or were otherwise breached, and that monetary damages, even if available, would not be an adequate remedy therefor. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions, or any other appropriate form of equitable relief, to prevent breaches of this Agreement and to enforce specifically the performance of the terms and provisions of this Agreement in any court referred to in <u>Section **‎**8.10(b)</u>, without proof of damages or otherwise (and each party hereby waives any requirement for the securing or posting of any bond or other security in connection with such remedy), this being in addition to any other remedy to which they are entitled at law or in equity. The right to specific enforcement shall include the right of the Company to cause Parent and Merger Sub to cause the Merger and the other Transactions to be consummated on the terms and subject to the conditions set forth in this Agreement. The parties further agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to Law or inequitable for any reason, nor to assert that a remedy of monetary damages would provide an adequate remedy. Each of the parties acknowledges and agrees that the right of specific enforcement is an integral part of the Transactions and without such right, none of the parties would have entered into this Agreement. If, prior to the Outside Date, any party brings any Proceeding, in each case in accordance with <u>Section **‎**8.10(b)</u>, to enforce specifically the performance of the terms and provisions hereof by any other party, the Outside Date shall automatically be extended by (i) the amount of time during which such Proceeding is pending, plus twenty (20) business days or (ii) such other time period established by the court presiding over such Proceeding, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of the parties hereto hereby irrevocably submits to the exclusive jurisdiction of the courts of the State of Delaware and to the jurisdiction of the United States District Court for the State of Delaware, for the purpose of any Proceeding arising out of or relating to this Agreement or the actions of Parent, Merger Sub or the Company in the negotiation, administration, performance and enforcement thereof, and each of the parties hereby irrevocably agrees that all claims with respect to such Proceeding may be heard and determined exclusively in the Delaware Court of Chancery or, solely if the Delaware Court of Chancery does not have subject matter jurisdiction thereof, any other court of the State of Delaware or any Federal court sitting in the State of Delaware. Each of the parties hereto (i) consents to submit itself to the personal jurisdiction of the Delaware Court of Chancery, any other court of the State of Delaware and any Federal court sitting in the State of Delaware in the event any Proceeding arises out of this Agreement, the Merger or any of the other Transactions, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (iii) irrevocably consents to the service of process in any Proceeding arising out of or relating to this Agreement, the Merger or any of the other Transactions, on behalf of itself or its property, by U.S. registered mail to such party's respective address set forth in <u>Section **‎**8.02</u> (<u>provided</u> that nothing in this <u>Section **‎**8.10(b)</u> shall affect the right of any party to serve legal process in any other manner permitted by Law) and (iv) agrees that it will not bring any Proceeding relating to this Agreement, the Merger or any of the other Transactions in any court other than the Delaware Court of Chancery (or, solely if the Delaware Court of Chancery shall be unavailable, any other court of the State of Delaware or any Federal court sitting in the State of Delaware). The parties hereto agree that a final trial court judgment in any such Proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law; <u>provided</u> that nothing in the foregoing shall restrict any party's rights to seek any post-judgment relief regarding, or any appeal from, such final trial court judgment.

Section 8.11 <u>WAIVER OF JURY TRIAL</u>. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY PROCEEDING ARISING OUT OF THIS AGREEMENT, THE MERGER, ANY OF THE OTHER TRANSACTIONS OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS TRANSACTION. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH PARTY WOULD NOT, IN THE EVENT OF ANY PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS <u>SECTION ‎8.11</u>.

Section 8.12 <u>Cooperation</u>. The parties agree to provide reasonable cooperation with each other and to execute and deliver such further documents, certificates, agreements and instruments and to take such actions as may be reasonably requested by the other parties to evidence or effect the Transactions and to carry out the intent and purposes of this Agreement.

Section 8.13 <u>Representation</u>. Each of the parties hereby agrees, on its own behalf and on behalf of its directors, members, partners, officers, employees and affiliates, that Fenwick & West LLP may serve as counsel to each and any of the Members' Representative, the Equityholders and their respective affiliates (individually and collectively, the "**Seller Group**"), on the one hand, and the Company, on the other hand, in connection with the negotiation, preparation, execution and delivery of this Agreement and the consummation of the transactions contemplated hereby, and that, following consummation of the transactions contemplated hereby, Fenwick & West LLP (or any successor) may serve as counsel to the Seller Group or any director, member, partner, officer, employee or affiliate of the Seller Group, in connection with any litigation, claim or obligation arising out of or relating to this Agreement or the transactions contemplated by this Agreement notwithstanding such representation of the Company, and each of the parties hereby consents thereto and waives any conflict of interest arising therefrom, and each of such parties shall use commercially reasonable efforts to cause any affiliate thereof to consent to waive any conflict of interest arising from such representation. Upon and after the Closing, the Surviving Company shall cease to have any future attorney-client relationship with Fenwick & West LLP, unless and to the extent Fenwick & West LLP is specifically engaged in writing by the Surviving Company to represent the Surviving Company after the Closing and such engagement involves no conflict of interest with respect to the Equityholders. The parties agree to take commercially reasonable steps to ensure that any privilege attaching as a result of Fenwick & West LLP representing the Company in connection with the transactions contemplated by this Agreement shall survive the Closing and shall remain in effect. As to any privileged attorney-client communications between Fenwick & West LLP and the Company prior to the Closing Date (collectively, the "**Privileged Communications**"), each of Parent, Merger Sub and the Company, together with any of their respective affiliates, subsidiaries, successors or assigns, agree that no such party may use or rely on any of the Privileged Communications in any action against or involving any of the parties after the Closing; <u>provided</u> that the foregoing does not waive or excuse Fenwick & West LLP from complying with all applicable rules of professional conduct regarding the confidentiality of any client information of the Company. Notwithstanding the foregoing, if a dispute arises between Parent or any of its affiliates (including the Surviving Company), on the one hand, and a third party other than (and unaffiliated with) the Equityholders, on the other hand, after the Closing, then Parent and its affiliates (including the Surviving Company) may assert such attorney-client privilege to prevent disclosure to such third party of confidential communications by Fenwick & West LLP.

Section 8.14 <u>Independent Nature of Company Members</u>. The obligations of each Company Member under this Agreement and any other agreement entered into in connection herewith are several and not joint with the obligations of any other Company Member, and no Company Member shall be responsible in any way for the performance of the obligations of any other Company Member under this Agreement or any other agreement entered into in connection herewith. Each Company Member shall be responsible only for its own representations, warranties, agreements and covenants under this Agreement and any other agreement entered into in connection herewith. The decision of each Company Member to acquire rights under this Agreement and any other agreement entered into in connection herewith has been made by such Company Member independently of any other Company Member and independently of any information, materials, statements or opinions as to the business, affairs, operations, assets, properties, liabilities, results of operations, condition (financial or otherwise) or prospects of Parent or any of its subsidiaries that may have been made or given by any other Company Member or by any agent, attorney, advisor, representative or employee of any other Company Member and no Company Member nor any of its agents, attorneys, advisors, representatives or employees shall have any liability to any other Company Member (or any other Person) relating to or arising from any such information, materials, statements or opinions. Nothing contained in this Agreement or any other agreement entered into in connection herewith, and no action taken by any Company Member pursuant hereto or thereto (including an Company Member's acquisition of rights hereunder or thereunder), shall be deemed to constitute the Company Members as, and each of the Company Members acknowledges and agrees that the Company Members do not thereby constitute, a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Company Members are in any way acting in concert or as a group, and neither Parent nor any of its affiliates shall assert any contrary position.

[Remainder of Page Intentionally Blank; Signature Pages Follow]

IN WITNESS WHEREOF, Parent, Merger Sub, the Company and the Members' Representative have duly executed this Agreement, all as of the date first written above.

---

| | |
|:---|:---|
| **CORMEDIX INC.**, as Parent | **CORMEDIX INC.**, as Parent |
| By: | /s/ Joseph Todisco |
| Name: | Joseph Todisco |
| Title: | Chief Executive Officer |
| **CORIANDER BIDCO LLC**, as Merger Sub | **CORIANDER BIDCO LLC**, as Merger Sub |
| By: | /s/ Joseph Todisco |
| Name: | Joseph Todisco |
| Title: | Authorized Person |

---

[*Signature Page to Merger Agreement*]

IN WITNESS WHEREOF, Parent, Merger Sub, the Company and the Members' Representative have duly executed this Agreement, all as of the date first written above.

---

| | |
|:---|:---|
| **MELINTA THERAPEUTICS, LLC**, as the Company | **MELINTA THERAPEUTICS, LLC**, as the Company |
| By: | /s/ Christine Miller |
| Name: | Christine Miller |
| Title: | Chief Executive Officer |

---

[*Signature Page to Merger Agreement*]

IN WITNESS WHEREOF, Parent, Merger Sub, the Company and the Members' Representative have duly executed this Agreement, all as of the date first written above.

---

| | |
|:---|:---|
| **DEERFIELD PRIVATE DESIGN FUND IV, L.P.**, as the Members' Representative | **DEERFIELD PRIVATE DESIGN FUND IV, L.P.**, as the Members' Representative |
| By: | Deerfield MGMT IV, L.P., its general partner |
| By: | Deerfield UGP, LLC, its general partner |
| By: | /s/ Lawrence Atinsky |
| Name: | Lawrence Atinsky |
| Title: | Authorized Signatory |

---

[*Signature Page to Merger Agreement*]

**EXHIBIT A**

**Form of Written Consent**

[Omitted]

Exhibit A-1

**EXHIBIT B**

**R&W Policy**

[Omitted]

Exhibit B-1

**EXHIBIT C**

**Form of Certificate of Merger**

[Omitted]

Exhibit C-1

**EXHIBIT D**

**Form of Certificate of Formation of the Surviving Company** 

[Omitted]

Exhibit D-1

**EXHIBIT E**

**Form of Contingent Payment Agreement**

[See attached]

**FINAL FORM**

**CONTINGENT PAYMENT AGREEMENT**

This CONTINGENT PAYMENT AGREEMENT (this "**Agreement**"), dated as of [●], 2025, is made by and among Deerfield Private Design Fund IV, L.P., a Delaware limited partnership ("**DPDF IV**"), Deerfield Private Design Fund III, L.P., a Delaware limited partnership ("**DPDF III**" and, together with DPDF IV, the "**Initial Contingent Payment Holders**" and, together with any transferees or assignees thereof, the "**Contingent Payment Holders**" and each, a "**Contingent Payment Holder**"), CorMedix Inc., a Delaware corporation ("**Parent**"), Melinta Therapeutics, LLC, a Delaware limited liability company (the "**Company**"), and Deerfield Private Design Fund IV, L.P., a Delaware limited partnership, solely in its capacity as representative ("**Members' Representative**" and, collectively with the Contingent Payment Holders, the Company and Parent, the "**Parties**" and each, a "**Party**").

**Background Statement**

WHEREAS, pursuant to that certain Agreement and Plan of Merger, by and among Parent, Coriander BidCo, LLC, a Delaware limited liability company and a wholly owned Subsidiary (as defined below) of Parent ("**Merger Sub**"), the Company and the Members' Representative, dated as of August 7, 2025 (together with all exhibits and schedules thereto and as may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof, the "**Merger Agreement**"), substantially contemporaneously with the execution and delivery of this Agreement, the Company is being merged with Merger Sub, with the Company surviving such merger as a wholly owned Subsidiary of Parent, and each Company Share (as defined below) is being converted into a right to receive Merger Consideration.

WHEREAS, each of the Initial Contingent Payment Holders is a Company Member (as defined below), and in connection with the Merger Agreement and as part of the Merger Consideration payable for the Company Shares thereunder, Parent has agreed to make (or cause one or more of its Affiliates (as defined below) to make) certain payments to the Contingent Payment Holders as set forth herein.

NOW, THEREFORE, in consideration of the covenants and obligations expressed herein, and intending to be legally bound, the Parties agree as follows:

**Statement of Agreement**

1. <u>Definitions</u>. The following terms used herein shall have the meanings set forth below:

"**Affiliate**" of any Person means another Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such first Person. As used herein, "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, whether through ownership of voting securities or other interests, by contract or otherwise.

"**Agreement**" has the meaning set forth in the Preamble.

Exhibit E-1

"**Applicable Percentage**" means, (a) in respect of any Net Sales of the Rezzayo Product in the U.S. in any calendar year of under [\*\*\*], [\*\*\*], (b) in respect of Net Sales of the Rezzayo Product in the U.S. in any calendar year in an aggregate amount equal to or greater than [\*\*\*] but less than [\*\*\*], [\*\*\*], and (c) in respect of Net Sales of the Rezzayo Product in the U.S. in any calendar year in an aggregate amount greater than [\*\*\*], [\*\*\*].

"**Assignee**" has the meaning set forth in <u>Section 4</u>.

"**Average Sale Price**" means, with respect to a particular period, the weighted average sale price of any Product, Combination Product, Bundled Product or other product or service included in a Combination Product or Bundled Product, as applicable, the price determined by dividing (a) the total gross sales, as invoiced, on commercial sales of such Product, Combination Product, Bundled Product or other product or service included in a Combination Product or Bundled Product, as applicable, in arms-length transactions during the applicable period, by (b) the units of such Product, Combination Product, Bundled Product or other product or service included in a Combination Product or Bundled Product commercially sold in arms-length transactions during such period.

"**Bundled Product**" shall mean the Products together with any other product(s) and/or service(s) that are sold at a single unit price, whether packaged together or separately, other than any Combination Product.

"**Business Day**" means a day (a) other than Saturday or Sunday and (b) on which commercial banks are open for business in New York, New York.

"**Code**" means the Internal Revenue Code of 1986, as amended.

"**Combination Product**" means any Product that is co-packaged in combination with one or more additional pharmaceutical products or active pharmaceutical ingredients. For the avoidance of doubt, pharmaceutical dosage form vehicles, adjuvants, and excipients shall not be deemed to be "additional pharmaceutical products" or "active pharmaceutical ingredients," and their presence shall not be deemed to create a Combination Product.

"**Commercially Reasonable Efforts**" means that level of efforts of a Person, in good faith, to achieve a Milestone and Net Sales in a diligent and sustained manner without undue pause, interruption or delay, that are at least commensurate with the level of efforts, including expenditure of resources, that a pharmaceutical company comparable to Parent and its Affiliates, taken as a whole would devote to the development, seeking of regulatory approval, commercialization, marketing and selling of a pharmaceutical product having similar market potential as any Product at a similar stage of its development or product life, and involving comparable development and marketing costs, taking into account issues of market exclusivity, safety and efficacy, the competitiveness of alternate products in the marketplace and the expected likelihood of regulatory approval of such a pharmaceutical product, but excluding, in each case, a Milestone Payment or any Net Sales Payment, as applicable, due under this Agreement.

"**Company**" has the meaning set forth in the Preamble.

Exhibit E-2

"**Company Member**" means the holders of record of Company Shares outstanding as of immediately prior to the Effective Time.

"**Company Share**" means each Common Share of the Company and each Series A Preferred Share of the Company.

"**Contingent Payment Accounting Firm**" has the meaning set forth in <u>Section 3(c)</u>.

"**Contingent Payment Holder**" has the meaning set forth in the Preamble.

"**Disclosure Covenants**" has the meaning set forth in <u>Section 5</u>.

"**DPDF III**" has the meaning set forth in the Preamble.

"**DPDF IV**" has the meaning set forth in the Preamble.

"**Effective Time**" means the time at which the Merger shall become effective.

"**Exclusive Licensing Transaction**" means (a) any exclusive licensing transaction pursuant to which all or substantially all of any Product, a substantial portion of the Product Intellectual Property, or any of the Product Intellectual Property listed in the Orange Book, is exclusively licensed (directly or indirectly) to a Person other than Parent or any of its Subsidiaries, where (b) such Product or Product Intellectual Property, as applicable, is not licensed back to Parent or any of its Subsidiaries in a manner in which Parent or any of its Subsidiaries possess all development and commercialization rights with respect to such Product in the U.S. and, in the case of Product Intellectual Property, exclusive use for purposes of development and commercialization of such Product in the U.S. For the avoidance of doubt, a Parent Change of Control shall not constitute an Exclusive Licensing Transaction.

"**Extended Net Sales Payment Period**" means, with respect to each Product, a period beginning on the later of (a) the date of expiration of the last-to-expire Valid Claim listed in the Orange Book for such Product and (b) expiration of Regulatory Exclusivity for any Product and ending on the introduction into the market of a Generic Product for such Product in the U.S.

"**Fair Market Value**" means the fair market value as mutually determined by Parent and the Members' Representative.

"**Field Sales Employee**" means any employee (and not an independent contractor) whose primary responsibility is calling upon (including spending a material amount of time engaging in face-to-face meetings in various geographies with) healthcare providers and medical facilities for purposes of marketing products for the treatment or prevention of human disease on behalf of such employee's employer.

"**FDA**" means the U.S. Food and Drug Administration.

Exhibit E-3

"**Freely Tradeable Shares**" means Parent Shares that, at the time of issuance thereof, (a) are duly authorized, validly issued, fully paid and non-assessable, (b) are listed on the Nasdaq Global Market, (c) are the subject of an effective registration statement under the Securities Act that is available for the resale thereof by each of the Contingent Payment Holders, as provided for in the Registration Rights Agreement, and/or may be sold by each of the Contingent Payment Holders without any further holding period, limitation or condition (including any current public information requirement) pursuant to Rule 144 under the Securities Act, and (d) do not bear, and are not subject to, any restrictive legend, stop transfer or similar restriction.

"**GAAP**" means U.S. generally accepted accounting principles, consistently applied.

"**Generic Product**" means any pharmaceutical product that (a) is sold by a third party that is not an Affiliate or licensee of Parent (or a successor) under a marketing authorization granted by the FDA to such third party and (b) contains the same active pharmaceutical ingredient as the applicable Product and (c) is approved in reliance on the prior approval of the applicable Product as determined by the FDA.

"**Governmental Entity**" means any supranational, federal, national, state, municipal or local government, any court, tribunal, arbitrator, administrative agency, commission or other governmental official, authority or instrumentality, in each case whether domestic or foreign, any stock exchange or similar self-regulatory organization or any quasi-governmental or private body exercising any regulatory, Taxing or other governmental authority (including, as applicable, any governmental or political division, department, agency, commission, instrumentality, official, organization, unit, body or entity and any court, arbitrator or other similar tribunal).

"**Initial Contingent Payment Holders**" has the meaning set forth in the Preamble.

"**Intellectual Property**" means all intellectual property rights, whether protected, created or arising under the Laws of the U.S. or any other jurisdiction, including: (a) all patents, industrial designs, patent applications, provisional patent applications and similar instruments (including any and all substitutions, divisions, continuations, continuations-in-part, divisions, reissues, renewals, and extensions and any foreign equivalents of the foregoing (including certificates of invention, supplementary protection certificates and any applications therefor)) (collectively, "**Patent**"), (b) all domestic and foreign copyrights, copyright registrations, copyright applications and all moral rights related thereto, (c) all trademarks, service marks, trade names, business marks, service names, brand names, trade dress rights, logos, slogans, corporate names, and other indications of origin, together with all translations, adaptations, derivations and combinations thereof (including, all applications, registrations, renewals and extensions of the foregoing), (d) all Internet domain names, (e) trade secrets, proprietary know-how, inventions (whether or not patentable), improvements, methodologies, customer and supplier lists, database rights, discoveries, ideas, models, algorithms, blueprints, formulae, systems, processes, data compilations, tools, specifications, and technology, in each of the foregoing cases which are not available in the public domain and have actual or potential commercial value that is derived, in whole or in part, from such secrecy and (f) all other intellectual property rights throughout the world equivalent or similar to any of the foregoing.

"**Law**" means any statute, law (including controlling common law), ordinance, rule, or regulation of any Governmental Entity.

Exhibit E-4

"**M&A Transaction**" means (a) any transaction (including a sale of assets, merger, or sale of stock or other equity interests, including merger or sale of the equity interests of a Subsidiary of Parent) pursuant to which the Surviving Company or ownership of all or substantially all of any Product, a substantial portion of the Product Intellectual Property, or any of the Product Intellectual Property listed in the Orange Book, is sold or assigned (directly or indirectly) to or acquired by, directly or indirectly, a Person other than Parent or any of its Subsidiaries, where (b) such Product or Product Intellectual Property, as applicable, is not licensed back to Parent or any of its Subsidiaries in a manner in which Parent or any of its Subsidiaries possess all development and commercialization rights with respect to such Product in the U.S. and, in the case of Product Intellectual Property, exclusive use for purposes of development and commercialization of such Product in the U.S. For the avoidance of doubt, a Parent Change of Control shall not constitute an M&A Transaction.

"**Members' Representative**" has the meaning set forth in the Preamble.

"**Members' Representative Group**" has the meaning set forth in <u>Section 7(d)</u>.

"**Merger**" the merger of Merger Sub with and into the Company in accordance with the Merger Agreement.

"**Merger Agreement**" has the meaning set forth in the Background Statement.

"**Merger Sub**" has the meaning set forth in the Background Statement.

"**Milestone**" has the meaning set forth in <u>Section 2(a)</u>.

"**Milestone Notice**" has the meaning set forth in <u>Section 2(a)</u>.

"**Milestone Payment**" has the meaning set forth in <u>Section 2(a)</u>.

"**Milestone Period**" means a period beginning on the date of this Agreement and ending on June 30, 2029.

"**Minocin Product**" means the product known as Minocin (minocycline) for injection as of the date hereof or as it may be modified thereafter, including all formulations, dosages and forms of administration and any product that otherwise contains the active ingredient minocycline in an injectable or intravenous form.

"**MNPI**" has the meaning set forth in <u>Section 2(b)(i)</u>.

Exhibit E-5

"**Net Sales**" means the aggregate gross amount invoiced by or on behalf of any Selling Entity for any Product that such Persons sold or otherwise disposed of to third parties, which third parties shall include distributors and end-users, less the following deductions (such deductions in <u>clauses (a)</u> through <u>(f)</u>, the "**Permitted Deductions**"), to the extent included in the gross invoiced amount for such Product, or otherwise directly paid or incurred by a Selling Entity with respect to the sale of such Product, in each case, as determined in accordance with GAAP: (a) customary trade and quantity discounts, including trade quantity, early settlement and prompt payment discounts, actually allowed and taken with respect to sales of such Product; (b) credits, allowances and chargebacks given or made for recall, return or wastage replacement of such Product (including for spoiled, damaged, out-dated or returned Product) or for rebates or retroactive price reductions with respect to such Product; (c) discounts or rebates provided pursuant to patient financial assistance or discount programs, and coupon discounts; (d) chargebacks or rebates (or the equivalent thereof) paid on sale of such Product, including such payments mandated by programs of Governmental Entities or paid to medical healthcare organizations, to group purchasing organizations or trade customers; (e) sales, excise, value-added, use or other direct taxes paid, absorbed, incurred or otherwise allowed (except for taxes based on any Selling Entity's income); and (f) uncollected or uncollectable amounts invoiced to third parties and written off as bad debt in accordance with the Selling Entity's ordinary course of business write-off practices. If a single item falls into more than one of the categories set forth above, such item may not be deducted more than once. Notwithstanding the foregoing, in the case of (i) the sale of any Product between or among Selling Entities for subsequent resale to a third party on an arm's length basis, Net Sales will be calculated as above using only the gross amount invoiced by or on behalf of the applicable Selling Entity to such third party for such arm's length sale (and not the sale between or among such Selling Entities), and (ii) any sale or other disposal of any Product for non-cash consideration (other than with respect to such Product supplied expressly for sampling purposes, which shall not be included in Net Sales, and other than with respect to a sale or disposal of such Product between or among the Selling Entities for subsequent resale which shall be governed by <u>clause (A)</u>), then the gross amount to be included in the calculation of Net Sales shall be the Fair Market Value of any non-cash consideration received.

"**Net Sales Payment Amount**" means (a) in respect of each calendar quarter during the Net Sales Payment Period (i) in respect of the Net Sales of the Rezzayo Product in the U.S. during such quarter an aggregate amount equal to the sum of the Applicable Percentages of such Net Sales, plus (ii) [\*\*\*]% of Net Sales of the Minocin Product in the U.S during such calendar quarter or (b) in respect of each calendar quarter during the Extended Net Sales Payment Period (i) in respect of the Net Sales of the Rezzayo Product in the U.S. during such quarter an aggregate amount equal to [\*\*\*]% the sum of the Applicable Percentages of such Sales, and (ii) [\*\*\*]% of Net Sales of the Minocin Product in the U.S during such calendar quarter.

"**Net Sales Payment Period**" means, with respect to each Product, a period beginning on the date of this Agreement and ending on the earlier of (a) the approval by the FDA and sale of a Generic Product for such Product in the U.S. (<u>provided</u> that, if a third party launches a Generic Product "at risk" in the U.S. and that Generic Product is subsequently withdrawn from the market, then the Net Sales Payment Period shall be reinstated) and (b) the later of (i) the date of expiration of the last-to-expire Valid Claim listed in the Orange Book for such Product and (ii) expiration of Regulatory Exclusivity for such Product.

"**Net Sales Report**" has the meaning set forth in <u>Section 3(c)</u>.

"**Orange Book**" means FDA's publication entitled Approved Drug Products with Therapeutic Equivalence Evaluations.

"**Parent**" has the meaning set forth in the Preamble.

Exhibit E-6

"**Parent Change of Control**" means either (a) the sale, lease, transfer, conveyance or other disposition, in one transaction or a series of related transactions to a Person for value, of all or substantially all of the assets of Parent and its subsidiaries on a consolidated basis (including, for the avoidance of doubt, all of the Products and Product Intellectual Property), or (b) the sale, issuance or transfer of stock, equity securities or other securities of the Parent to any Person.

"**Parent Material Adverse Effect**" means any change, event, condition, state of facts, development, circumstance, effect or occurrence that (a) has had, or would reasonably be expected to have, a material adverse effect on the business, financial condition or results of operations of Parent and its Subsidiaries, taken as a whole, or (b) prevents Parent from consummating the transactions contemplated by this Agreement or the Merger Agreement; <u>provided</u>, that, for purposes of <u>clause (a)</u>, none of the following, and no change, event, condition, state of facts, development, circumstance, effect or occurrence that results from or arises in connection with the following, either alone or in combination, shall be deemed to constitute a Parent Material Adverse Effect and none of the following shall be taken into account in determining whether there has been a Parent Material Adverse Effect: any change, event, condition, state of facts, development, circumstance, effect or occurrence to the extent resulting from or arising in connection with (i) general conditions (or changes therein) in the industry in which Parent operates, (ii) general economic or regulatory, legislative or political conditions (or changes therein), including any actual or potential stoppage, shutdown, disputed election, default on obligations of any Governmental Entity or similar event or occurrence affecting a Governmental Entity, or securities, credit, banking, financial or other capital markets conditions (including changes generally in prevailing interest rates, currency exchange rates, credit markets or equity price levels, trading volumes or the imposition of new or increased tariffs), in each case in the U.S. or elsewhere in the world, (iii) any change or prospective change in applicable Law or GAAP (or the authoritative interpretation or enforcement thereof), (iv) geopolitical conditions, the outbreak or escalation of hostilities, any acts or threats of war (whether or not declared), sabotage, cyber-intrusion, political unrest or conditions, terrorism or any pandemics or epidemics or any applicable Law, mandate or recommendations of a Governmental Entity in response such hostilities, war, sabotage, cyber-intrusion, political unrest or conditions, terrorism, pandemics or epidemics, or any escalation or worsening of any such acts or threat of war (whether or not declared), sabotage, terrorism or any pandemics or epidemics, (v) any hurricane, tornado, flood, fire, volcano, earthquake or other natural or man-made disaster or any other national or international calamity, crisis or disaster, (vi) the failure, in and of itself, of Parent to meet any internal or external projections, forecasts, estimates or predictions in respect of any financial or operating metrics before, on or after the date hereof (it being understood that the underlying facts giving rise or contributing to such failure or change may be taken into account in determining whether there has been a Parent Material Adverse Effect if such facts are not otherwise excluded under this definition), (vii) the announcement, pendency or performance of any of the transactions contemplated by this Agreement or the Merger Agreement, including the identity of, or any facts or circumstances relating to, the Company or its Affiliates and any proceedings by Parent or its subsidiaries in respect of this Agreement or the Merger Agreement or any of the transactions contemplated by this Agreement or the Merger Agreement and any loss of or change in relationship, contractual or otherwise, with any customer, Governmental Entity, supplier, vendor, service provider, collaboration partner, licensor, licensees, payors, contractors or any other party having business dealings with (including the exercise, or prospective exercise, by any party of any rights that arise upon a change of control), or departure of any employees or officers, of Parent or its Subsidiaries (<u>provided</u> that this <u>clause (vii)</u> shall not apply with respect to any representation or warranty in this Agreement or the Merger Agreement the purpose of which is to address the consequences of the execution, delivery or performance of this Agreement or the Merger Agreement or the consummation of the transactions contemplated hereby or thereby), (viii) any action taken by Parent or its Affiliates at the Company's written (including email) request or with the Company's written (including email) consent, except in the case of <u>clauses (i)</u>, <u>(ii)</u>, <u>(iii)</u>, <u>(iv)</u> and <u>(v)</u>, to the extent that Parent and its subsidiaries are materially disproportionately affected thereby as compared with other participants in the industry in which Parent operates (in which case only the incremental disproportionate impact or impacts may be taken into account in determining whether there has been a Parent Material Adverse Effect).

Exhibit E-7

"**Parent Share Warrants**" means warrants to acquire Parent Shares, each in the form of <u>Exhibit A</u>.

"**Parent Shares**" means common shares, par value $0.001 per share, of CorMedix Inc.

"**Party**" has the meaning set forth in the Preamble.

"**Patent**" means all patents, industrial designs, patent applications, provisional patent applications and similar instruments (including any and all substitutions, divisionals, continuations, continuations-in-part, reissues, renewals, and extensions and any foreign equivalents of the foregoing (including certificates of invention, supplementary protection certificates and any applications therefor)).

"**Person**" means any individual, firm, corporation, partnership, company, limited liability company, estate, trust, joint venture, association, organization, Governmental Entity or other entity of any kind or nature.

"**Pro Rata Share**" means, with respect to each Contingent Payment Holder, the percentage set forth opposite such Contingent Payment Holder's name on <u>Schedule 1</u> hereto.

"**Product**" means either the Rezzayo Product or the Minocin Product.

"**Product Intellectual Property**" means all Intellectual Property owned, licensed or controlled by Parent or any of its Affiliates, whenever acquired, in each case, that is necessary to develop, manufacture, have manufactured, use, promote, distribute, import, export, sell or offer for sale any of the Products.

"**Qualified Assignee**" means with respect to an M&A Transaction or an Exclusive Licensing Transaction with respect to any Product, an Assignee that is in the business of developing or commercializing drugs for the treatment or prevention of human disease and (a) if the Assignee with respect to such M&A Transaction or Exclusive Licensing Transaction, as applicable, is not a company, and is not the direct or indirect Subsidiary of a company, that has publicly listed shares, such party has (i) at least [\*\*\*] Field Sales Employees at the time of execution of the binding definitive acquisition agreement pursuant to which such M&A Transaction or Exclusive Licensing Transaction is consummated (as applicable, the "**Acquisition Agreement**"), and (ii) annual net sales among all products and services of at least [\*\*\*] as of the end of such Assignee's most recently completed fiscal quarter ending prior to the execution of the Acquisition Agreement, or (b) if the Assignee with respect to such M&A Transaction or Exclusive Licensing Transaction, as applicable, is a company, or is the direct or indirect Subsidiary of a company, that has publicly listed shares, such party has (i) a market capitalization of at least [\*\*\*] and (ii) either (A) at least [\*\*\*] Field Sales Employees at the time of the Acquisition Agreement, or (B) annual net sales among all products and services of at least [\*\*\*] as of the end of such Assignee's most recently publicly reported fiscal quarter prior to the execution of the Acquisition Agreement.

Exhibit E-8

"**Registration Rights Agreement**" means that certain registration rights agreement, dated of even date herewith, by and among Parent and the Initial Contingent Payment Holders (as such may be amended, restated or otherwise modified).

"**Regulatory Exclusivity**" means any exclusive marketing rights or data exclusivity rights conferred by any U.S. federal Governmental Entity with respect to a pharmaceutical product other than a Patent, including orphan drug exclusivity, new chemical entity exclusivity, Generating Antibiotic Incentives Now (GAIN) exclusivity, data exclusivity, or pediatric exclusivity.

"**Reporting Company**" means a company that is required to file reports pursuant to Section 13 or 15(d) of the U.S. Securities Exchange Act of 1934, as amended, or otherwise files such reports with the SEC.

"**Rezzayo Product**" means (a) the product known as Rezzayo (rezafungin) as of the date hereof or as it may be modified thereafter, including all formulations, dosages, strengths, delivery modes and forms of administration and (b) any product that contains the active ingredient rezafungin.

"**SEC**" means the U.S. Securities and Exchange Commission (or successor thereto).

"**Securities Act**" means the U.S. Securities Act of 1933, as amended.

"**Selling Entity**" means (a) Parent, the Surviving Company, and their respective Affiliates (<u>provided</u> that such Affiliate is participating in invoicing and selling of any Product), (b) any Person to which any commercial rights in or to any Product are (directly or indirectly) licensed, sublicensed, assigned or transferred by Parent, the Company, or their respective Affiliates (but for clarity, not distributors acting in the capacity of a distributor) and (c) any successor or assign of any Person described in <u>clauses (a)</u> or <u>(b)</u>.

"**Stock Event**" means any stock split or other subdivision of outstanding Parent Shares, combination of outstanding Parent Shares (including by reverse stock split), reclassification, payment of a stock dividend in Parent Shares, recapitalization, or other similar transaction of such character that Parents Shares shall be changed into or become exchangeable for a larger or smaller number of Parent Shares.

"**Subsidiary**" means, with respect to any Person, an amount of the voting securities, other voting ownership or voting partnership interests of which is sufficient to elect at least a majority of its board of directors or other governing body (or, if there are no such voting interests, fifty percent (50%) or more of the equity interests of which) is owned directly or indirectly by such first Person.

"**Surviving Company**" means, following the Merger, the Company as the surviving limited liability company and a wholly owned Subsidiary of Parent.

Exhibit E-9

"**Taxes**" means any and all domestic or foreign, federal, state, or local taxes, charges, fees, levies, imposts, duties and governmental fees or other like assessments or charges that are in the nature of a tax, including income taxes (whether imposed on or measured by net income, gross income, income as specially defined, earnings, profits, or selected items of income, earnings, profits, or financial accounting profits), capital taxes, gross receipts taxes, sales taxes, use taxes, value added taxes, goods and services taxes, transfer taxes, franchise taxes, license taxes, withholding taxes, payroll taxes, employment taxes, excise taxes, severance taxes, social security premiums, workers' compensation premiums, employment insurance or compensation premiums, stamp taxes, occupation taxes, premium taxes, ad valorem taxes, property taxes, unclaimed property, escheat, windfall profits taxes, alternative or add-on minimum taxes, and customs duties, in each case whether disputed or not, and such term shall include any interest whether paid or received, fines, penalties or additional amounts attributable to, or imposed upon, or with respect to, any such taxes, charges, fees, levies or other assessments, or because of any failure to file any tax return in a timely, complete or correct manner.

"**Trading Day**" means each such day on which the Nasdaq Global Market is open for trading.

"**Transfer**" means any sale (or any transaction having the effect of a sale), assignment, conveyance of rights, deed of trust, lien, license, sublicense, seizure or other transfer of any sort and to any degree, voluntary or involuntary, including by operation of Law.

"**U.S.**" means the United States of America, including its territories and possessions.

"**Valid Claim**" means a claim contained in any (a) unexpired and issued Patent included within the Product Intellectual Property that has not been held unpatentable, invalid or unenforceable in a final decision of a court or other government agency of competent jurisdiction from which no appeal may be or has been taken, and which has not been admitted to be invalid or unenforceable through reissue, re-examination, disclaimer or otherwise or (b) a pending application for Patent included within the Product Intellectual Property, that has not been finally cancelled, finally rejected, withdrawn, expired, or abandoned, and which claim has been pending less than five (5) years from the original filing date of such claim in a given country, and unless or until such claim thereafter issues as a claim of an issued Patent (from and after which time the same shall be deemed a Valid Claim subject to subsection (a) above).

"**Weighted Average Parent Share Price**" means, in respect of any Milestone, an amount equal to arithmetic average of the volume weighted average closing price of Parent Shares per share on the Nasdaq Global Market (as reported by Bloomberg Finance L.P. or another reputable source mutually agreeable to Parent and the Company) on each of the Trading Days during the five (5) consecutive Trading Day period ending on, and including, the Trading Day immediately prior to the occurrence of such Milestone. In the event that a Stock Event occurs during any period for which the arithmetic average of the volume weighted average prices is to be determined, the volume weighted average price for all Trading Days during such period prior to the effectiveness of the Stock Event shall be appropriately adjusted to reflect such Stock Event, and in the event a Stock Event occurs following the last Trading Day of such period but prior to the issuance of the Freely Tradeable Shares in respect of the applicable Milestone the Weighted Average Parent Share Price (and accordingly, the number of Freely Tradeable Shares to be issued to each Contingent Payment Holder) shall be appropriately adjusted to reflect such Stock Event.

Exhibit E-10

2. <u>Milestone Consideration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Milestone Payment</u>. During the Milestone Period, upon the issuance of FDA marketing approval of the Rezzayo Product for the prevention or prophylaxis of invasive fungal infections in adult patients undergoing allogeneic stem cell blood and marrow transplant or the regulatory equivalent and that includes (i) candida, (ii) aspergillus or (iii) pneumocystis in the FDA-approved labeling, on or prior to June 30, 2029 (each, a "**Milestone**"), Parent shall pay or cause to be paid to each Contingent Payment Holder, such Contingent Payment Holder's Pro Rata Share of the aggregate milestone payment set forth in the table below, in cash or Freely Tradeable Shares as set forth below (each such payment, a "**Milestone Payment**"). Any Milestone Payment shall be payable upon the first achievement of such Milestone by Parent or any of its Affiliates (including the Surviving Company), including, for the avoidance of doubt, if the Milestone triggering such Milestone Payment is achieved at the same time any other Milestone occurs.

---

| | |
|:---|:---|
| **Milestone** | **Milestone Payment** |
| FDA approval includes Candida | $20000000 |
| FDA approval includes Aspergillus | $2500000 |
| FDA approval includes Pneumocystis | $2500000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Milestone Payment Procedures</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Within three (3) Business Days of the occurrence of a Milestone, Parent shall provide written notice of such Milestone (a "**Milestone Notice**") to the Members' Representative and, if Parent is then a Reporting Company and any material non-public information ("**MNPI**") is included in the Milestone Notice or otherwise provided by or on behalf of Parent to the Members' Representative in connection with the Milestone Notice, contemporaneously file with the SEC a Current Report on Form 8-K disclosing such MNPI. In any Milestone Notice, Parent may make an irrevocable election to pay some or all of the applicable Milestone Payment in Freely Tradeable Shares; <u>provided</u> that, if only a portion of the Milestone Payment will be made in Freely Tradeable Shares (and/or Parent Share Warrants), the Freely Tradeable Shares (and/or Parent Share Warrants) shall be allocated to the Contingent Payment Holders on a pro rata basis, based upon their respective Pro Rata Shares of the Milestone Payment; <u>provided</u>, <u>further</u>, that, in no event shall Parent be entitled to issue Freely Tradeable Shares (and/or Parent Share Warrants) in respect of any Milestone Payment in connection with any Milestone (or contemporaneously occurring Milestones), (i) if Parent is not then a Reporting Company or is delinquent in any of its filing obligations as a Reporting Company, or if the issuance of Freely Tradeable Shares and/or Parent Share Warrants (or Freely Tradeable Shares issuable upon exercise of such Parent Share Warrants) would, assuming the maximum number of shares of Common Stock issuable in the Convertible Note Offering (as defined in the Merger Agreement) and the Merger Agreement have been issued, and when aggregated with any shares of Common Stock issued hereunder together with any transactions aggregated with the foregoing, require the vote or approval of shareholder of Parent in accordance with Nasdaq listing rules or otherwise, (ii) if the Parent Shares are not listed then listed on the Global Select Market and Parent has not received any notice of any failure to meet any listing standard of the Nasdaq Stock Market LLC that has not been cured and publicly announced as such, or is otherwise not in compliance with the requirements for continued listing of the Parent Shares on the Nasdaq Global Market, (iii) if Parent, the Surviving Company or any of their Affiliates are, upon issuance of such Parent Shares will be, in material breach of any of their obligations under this Agreement, the Merger Agreement or the Registration Rights Agreement (including, for the avoidance of doubt, any provisions hereof or thereof in respect of MNPI), or (iv) to the extent such Freely Tradable Shares would represent more than ten percent (10%) of the Parent Shares that are issued and outstanding immediately prior to the date such Milestone(s) occurred. For the avoidance of doubt, if Parent does not make any such election, it will be obligated to make the Milestone Payment entirely in cash. To the extent that Parent makes an election to pay any of a Milestone Payment in Freely Tradeable Shares (and is permitted to do so hereunder), Parent shall, not earlier than the third (3<sup>rd</sup>), and not later than the seventh (7<sup>th</sup>), Business Day following the occurrence of the Milestone, issue (or cause to be issued) to each Contingent Payment Holder (or its designee), pursuant to the Deposit/Withdrawal at Custodian (DWAC) system of The Depository Trust Company, a number of Freely Tradeable Shares equal to (x) the dollar amount to be paid in Parent Shares <u>divided by</u> (y) the Weighted Average Price in respect of such Milestone; <u>provided</u>, <u>however</u>, that, at any time on or prior to the second (2<sup>nd</sup>) Business Day of the delivery of a Milestone Notice, a Contingent Payment Holder may elect, by written notice to Parent (which notice may contain an election in respect of any one or more future Milestones, subject to subsequent withdrawal by such Contingent Payment Holder's written notice thereof), to receive, in lieu of any of the Freely Tradeable Shares it is so entitled to receive in connection with Milestone, a Parent Share Warrant exercisable for such number of Freely Tradeable Shares. Within thirty (30) calendar days of the occurrence of any Milestone, Parent shall pay (or cause to be paid) to each Contingent Payment Holder such Contingent Payment Holder's Pro Rata Share of the Milestone Payment in cash, except to the extent all or any portion of such Milestone Payment has been satisfied in Freely Tradeable Shares (and/or Parent Share Warrants) as provided above.

Exhibit E-11

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If any Milestone Payment is not paid or issued by Parent as and when due and payable or issuable hereunder, the dollar amount of such Milestone Payment shall bear interest at the prime rate as published by Citibank, N.A. in effect on the latest date such payment was required to be made plus three and one half percent (3.5%) per annum; <u>provided</u>, <u>however</u>, in the event of a bona fide dispute about whether the Milestone Payment is payable, interest shall not accrue during such period in which the matter is being contested in good faith, and will instead accrue commencing upon resolution of the dispute until payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Diligence</u>. Following the Closing, during the Milestone Period, each of Parent and the Surviving Company shall use Commercially Reasonable Efforts to achieve each Milestone as promptly as reasonably practicable and, in each case, prior to the expiration of the Milestone Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Milestone Reports</u>. Upon the written request of the Members' Representative, which may be provided no more frequently than twice per calendar year, Parent shall provide an update to the Members' Representative setting forth in reasonable detail the status of the achievement of each Milestone, including promptly (and in any event no later than ten (10) Business Days after receipt of request) facilitating any reasonably requested discussions between appropriate Representatives of Parent and the Members' Representative. The Parties hereby acknowledge, for the avoidance of doubt, if any MNPI regarding Parent or its securities is to be included in any such report, the disclosure thereof shall be made in accordance with the provisions of <u>Section 5</u> hereof, including, as applicable, the Agreed Disclosure Process.

3. <u>Net Sales Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Net Sales Payments</u>. In respect of each calendar quarter following the date of this Agreement and during the Net Sales Payment Period or Extended Net Sales Payment Period, as applicable, with respect to each Product, commencing with the partial calendar quarter that includes the date of this Agreement, on the date each Net Sales Report is required to be delivered by Parent, Parent shall pay or cause to be paid to each Contingent Payment Holder, such Contingent Payment Holder's Pro Rata Share of the Net Sales Payment in respect of such calendar quarter. If a Net Sales Payment is not paid by Parent as and when due and payable hereunder, such Net Sales Payment shall bear interest at the prime rate as published by Citibank, N.A. in effect on the latest date such payment was required to be made plus three and one half percent (3.5%) per annum; <u>provided</u>, <u>however</u>, in the event of a bona fide dispute about whether the Net Sales Payment Period has expired or whether the Extended Net Sales Payment Period has commenced or has expired, interest shall not accrue during such period in which the matter is being contested in good faith, and will instead accrue commencing upon resolution of the dispute until payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Diligence</u>. Following the date of this Agreement, Parent shall use Commercially Reasonable Efforts to develop, seek regulatory approval of, develop, commercialize, promote and sell each Product.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Net Sales Reports</u>. During the period during which Net Sales Payments are payable hereunder, within: (i) for so long as Parent is a Reporting Company, with respect to each calendar quarter (other than the fourth (4<sup>th</sup>) calendar quarter) or calendar year, one (1) Business Day following the filing with the SEC by Parent of its Quarterly Report on Form 10-Q or Annual Report on Form 10-K (but in no event later than the forty-fifth (45<sup>th</sup>) calendar day following the end of such calendar quarter or ninetieth (90<sup>th</sup>) day following the end of such calendar year, as applicable) or (ii) if Parent is not then a Reporting Company, sixty (60) calendar days following the end of each calendar quarter, Parent will provide the Members' Representative and each Contingent Payment Holder with a report (a "**Net Sales Report**") containing the following information with respect to any Net Sales of each Product during such calendar quarter and, in the case of a Net Sales Report required to be delivered following the end of Parent's calendar year, during such calendar year and the fourth (4<sup>th</sup>) quarter of such calendar year: (1) the number of units of each of the Products sold, (2) aggregate gross sales of each of the Products sold, (3) the deductions therefrom, (4) the exchange rate(s) used for purposes of calculating Net Sales (or any component thereof, including any deduction from gross sales), (5) the resulting calculation of Net Sales, and (6) the resulting calculation of the Net Sales Payments owed to each Contingent Payment Holder. Each Quarterly Report on Form 10-Q or Form 10-K filed in respect of a period or year (or portion thereof) for which a Net Sales Report is required to be delivered hereunder shall disclose any MNPI that is or will be included or reflected in the Net Sales Report in respect of such period or year. For so long as Parent is a Reporting Company, if Parent fails, for any reason, to file a Quarterly Report on Form 10-Q or Form 10-K containing the information required by the immediately preceding sentence at or prior to the time the Net Sales Report is delivered to a Contingent Payment Holder, then, prior to 7:00 a.m. Eastern Time on the first (1<sup>st</sup>) Business Day following the date such Net Sales Report shall have been delivered to such Contingent Payment Holder, Parent shall file a Current Report on Form 8-K with the SEC disclosing any MNPI contained or reflected in such Net Sales Report. Parent shall maintain (and shall cause its Affiliates, including the Surviving Company to maintain) for at least two (2) years following the expiration of the period during which Net Sales Payments may be payable hereunder complete and accurate data and records pertaining to Net Sales of each Product. Parent hereby covenants and agrees that, at all times, Parent's fiscal year shall terminate on the last Business Day of the applicable calendar year.

Exhibit E-12

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Calculation of Net Sales</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Net Sales shall be calculated on an accrual basis and in a manner consistent with the definition of Net Sales. To the extent any accrued amounts used in the calculation of Net Sales are estimates, such estimates shall be trued-up in accordance with the Selling Entity's accounting policies for external reporting purposes, as consistently applied by the Selling Entity, and Net Sales and related payments under this Agreement shall be reconciled as appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) With respect to any sale of any Product, Combination Product or Bundled Product for any substantive consideration other than monetary consideration on arm's length terms (which has the effect of reducing the invoiced amount below what it would have been in the absence of such non-monetary consideration), for purposes of calculating the Net Sales under this Agreement, such Product, Combination Product or Bundled Product shall be deemed to be sold exclusively for cash at the Average Sale Price thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) In the event that any Product is sold as part of a Combination Product or Bundled Product, the Net Sales for such Combination Product or Bundled Product shall be calculated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) multiply the Net Sales of such Combination Product or Bundled Product by the fraction A/(A+B) where "A" is the Average Sale Price of such Product included in such Combination Product or Bundled Product, as applicable, when sold separately and "B" is the total of the Average Sale Prices of each of the other products or, solely with respect to Bundled Products, services included in such Combination Product or Bundled Product, as applicable, when sold separately;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Average Sale Price of such Product included in such Combination Product or Bundled Product can be determined but the Average Sale Price of the other products or, solely with respect to Bundled Products, services included in such Combination Product or Bundled Product, as applicable, cannot be determined, then multiply the Net Sales of such Combination Product or Bundled Product, as applicable, by the fraction A/C where "A" is the Average Sale Price of such Product included in such Combination Product or Bundled Product, as applicable, when sold separately and "C" is the Average Sale Price of such Bundled Product; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if (1) the Average Sale Price of such Product included in such Combination Product or Bundled Product, as applicable, is not available for such period or (2) such Product included in such Combination Product or Bundled Product, as applicable, is not sold separately in material numbers, then multiply the Net Sales of such Combination Product or Bundled Product, as applicable, by a percentage reasonably determined by mutual agreement of Parent and the Members' Representative that represents the proportionate economic value of such Product included in such Combination Product or Bundled Product, as applicable, relative to the economic value contributed by the other products or, solely with respect to Bundled Products, services included in such Combination Product or Bundled Product, as applicable.

Exhibit E-13

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) In the event that any discounts, rebates or charge-backs (whether as part of customer loyalty, bundling or "loss leader" program, or otherwise) are utilized by or on behalf of Parent for any Product, Combination Product or Bundled Product to promote or sell other products, the Net Sales for such Product, Combination Product or Bundled Product shall be no less than the Average Sale Price of such Product, Combination Product or Bundled Product, as applicable, on a stand-alone basis (excluding any such discounts, rebates or charge-backs).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) With respect to sales invoiced in a currency other than U.S. dollars, gross sales and Net Sales (including all adjustments and deductions permitted to be made hereunder in calculating the same) shall be converted into, and expressed in, their U.S. dollar equivalent using the conversion rate existing in the U.S. (as reported in <u>The Wall Street Journal</u>, New York edition) for the applicable currency on the last Business Day of the applicable calendar quarter. If <u>The Wall Street Journal</u> ceases to publish such exchange rate, then the rate of exchange to be used shall be that reported in such other business publication of national circulation in the U.S. on which Parent and the Members' Representative reasonably agree.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Records Retention and Inspection Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Parent shall maintain (and shall cause its Affiliates, including the Surviving Company to maintain) complete and accurate data and records pertaining to Net Sales of each Product for at least three (3) years following the end of the calendar quarter to which they pertain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Upon no less than thirty (30) days' written notice by the Member's Representative to Parent, Parent shall permit, and shall require its Affiliates (including the Surviving Company) to permit, an independent certified public accountant (subject to reasonable obligations of confidentiality to Parent and its Affiliates), appointed by the Member's Representative and reasonably acceptable to Parent to inspect the books and records of Parent and its Affiliates (including the Surviving Company) described in <u>Section 3(e)(i)</u> above for the sole purpose of verifying the accuracy of the Net Sales Payments required to be made hereunder; <u>provided</u> that such inspection shall occur during Parent or its Affiliates, as applicable, normal business hours and not more often than twice per calendar year, and no Net Sales Payment shall be subject to inspection more than once. The independent certified public accountant shall report to the Member's Representative only whether there has been an underpayment or overpayment of the Net Sales Payments and, if so, the amount thereof and information related to the determination of such amount, and such accountant's determinations shall be final and binding upon the Parties, absent manifest error. Any inspection conducted under this <u>Section 3(e)(ii)</u> shall be at the expense of (A) Parent, if such inspection establishes any underpayment of the Net Sales Payments required to be made hereunder of five percent (5%) or more for any applicable period, (B) the Member's Representative, if such inspection establishes no underpayment of the Net Sales Payments required to be made hereunder for any applicable period, and (C) shall be split as between Parent and the Member's Representative based on linear interpolation in the event of an underpayment of Net Sales Payments of between one one-hundredth of one percent (.01%) and five percent (5%) for any applicable period (by way of example, if an inspection is initiated in accordance with this <u>Section 3(e)(ii)</u> that determines an underpayment of three percent (3.0%) of the total Net Sales Payments for the applicable period, Parent shall be responsible for sixty percent (60%) of the applicable expense). Any underpayment shall be paid by Parent to each Contingent Payment Holder, based on such Contingent Payment Holder's Pro Rata Share thereof, within fifteen (15) Business Days, with interest on the underpayment at the rate specified in <u>Section 3(a)</u> above from the date such payment was originally due. Any overpayment shall be paid by the Member's Representative to Parent within fifteen (15) Business Days or credited against future Net Sales Payments due, at Parent's sole discretion.

Exhibit E-14

4. <u>M&A Transaction or Exclusive Licensing Transaction</u>. In the event that Parent desires to consummate an M&A Transaction or an Exclusive Licensing Transaction with respect to any Product after the Effective Time and prior to the later of (x) the expiration of the Milestone Period and (y) the expiration of the Extended Net Sales Payment Period, Parent shall, subject to the provisions of <u>Section 5</u> hereof, including, as applicable, the Agreed Disclosure Process, (i) give written notice of such decision to the Members' Representative as promptly as practicable (and in any event no later than thirty (30) calendar days prior to the effective date of such transaction), which such notice shall include (A) a reasonably detailed description of such transaction, (B) the name of, and detailed financial and other information in respect of, the counterparty to such proposed transaction (the "**Assignee**"), including, as applicable, information necessary to determine if the Assignee is a Qualified Assignee, and (C) the counterparty's plans for commercialization of such Product, and (ii) cause such Assignee to (x) expressly agree in writing to assume and succeed to all of the obligations, duties and covenants of Parent and its Affiliates under this Agreement, (y) abide by and be subject to the terms and conditions of this Agreement to the same extent as Parent as though such Assignee were directly party to this Agreement, including, in all cases, the obligations of Parent with respect to each Milestone Payment and the Net Sales Payments and the diligence obligations set forth in <u>Sections 2(a)(ii)</u> and <u>3(b)</u> and (z) deliver to the Members' Representative an instrument of assumption, for the benefit of the Contingent Payment Holders, effecting the assumption and succession of all of the obligations, duties and covenants of Parent and its Affiliates under this Agreement. Notwithstanding the foregoing, Parent shall not, and shall cause its Affiliates to not, effect any M&A Transaction or Exclusive Licensing Transaction without the prior written consent of the Members' Representative unless the Assignee is a Qualified Assignee and the requirements set forth above in this <u>Section 4</u> have been satisfied in full. Parent shall not, and shall cause its Affiliates to not, effect any Parent Change of Control within the meaning of <u>clause (a)</u> of the definition thereof unless the requirements set forth in <u>clause (ii)</u> of the first sentence of this <u>Section 4</u> have been satisfied in full, with the Person acquiring all or substantially all of the assets of Parent being deemed the Assignee for purposes thereof.

Exhibit E-15

5. <u>MNPI</u>. Notwithstanding anything to the contrary contained in this Agreement, other than as set forth in any Net Sales Report (but subject to compliance with <u>Section 4(c)</u>) Parent shall not, and shall cause each of its Affiliates, representatives and agents, to not, provide the Members' Representative, the Contingent Payment Holders or any of their respective Affiliates, representatives or agents, with any MNPI regarding Parent or any of its Affiliates without the express prior written consent of the Members' Representative and any such other Person. Parent hereby acknowledges and agrees that neither the Members' Representative nor any Contingent Payment Holder (nor any of their respective Affiliates) shall have any duty of trust or confidence with respect to, or duty not to trade on the basis of, any MNPI regarding Parent or its securities (i) provided by, or on behalf of, Parent, any of its Subsidiaries, any of their respective Affiliates or any of their respective officers, directors, employees, attorneys, representatives or agents in violation of any of the covenants set forth in this <u>Section 5</u> or (ii) otherwise possessed by any such Person as a result of any violation of any of the covenants set forth in this Agreement or the Merger Agreement requiring Parent to publicly disclose information in a press release, filing with the SEC or otherwise (collectively, including the covenants set forth in this <u>Section 5</u>, the "**Disclosure Covenants**"). Notwithstanding anything to the contrary herein, in the event that Parent believes that a notice or communication to the Members' Representative or any Contingent Payment Holder (other than a Net Sales Report but subject to compliance with <u>Section 4(c)</u>) contains MNPI relating to Parent, any of its Subsidiaries or Affiliates or any of their respective property or equity, Parent shall (i) provide such notice or communication to counsel to the Members' Representative (which shall be Katten Muchin Rosenman LLP (Attn: Mark D. Wood) or such other counsel as shall have been designated in writing by the Members' Representative, and (ii) notify the Members' Representative or such Contingent Payment Holder, as applicable that such a notice or communication has been provided to such counsel (without disclosing any details thereof that might constitute MNPI). Upon receipt or delivery by Parent or any of its Subsidiaries of any notice in accordance with the terms of this Agreement or the Merger Agreement, unless Parent has in good faith determined that the matters relating to such notice do not constitute material, nonpublic information relating to Parent or any of its Subsidiaries or its Affiliates or their respective property or equity, Parent shall within one (1) Business Day after any such receipt or delivery publicly disclose such material, nonpublic information in a widely disseminated press release and/or filing with the SEC. Notwithstanding the foregoing, to the extent Parent determines in good faith that it is necessary to disclose MNPI to the Members' Representative for any purpose relating to this Agreement (a "**Necessary Disclosure**"), Parent shall inform counsel to the Members' Representative (which shall be Katten Muchin Rosenman LLP (Attn: Mark D. Wood) or such other counsel as shall have been designated in writing by the Members' Representative) of such determination without disclosing the applicable MNPI, and Parent and such counsel on behalf of the Members' Representative shall endeavor to agree upon a process for making such Necessary Disclosure to the Members' Representative or its representatives that is mutually acceptable to the Members' Representative and Parent (an "**Agreed Disclosure Process**"). Thereafter, Parent shall be permitted to make such Necessary Disclosure only in accordance with the Agreed Disclosure Process. Parent acknowledges and agrees that the Contingent Payment Holders and their Affiliates will rely upon the foregoing representations, warranties and agreements and the other disclosure obligations of Parent hereunder in effecting transactions in Parent Shares and other securities of Parent and other Persons.

Exhibit E-16

6. <u>Representations and Warranties of Parent</u>. Parent and the Company jointly and severally represent and warrant to the Members' Representative and the Contingent Payment Holders that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Organization</u>. Each of Parent and the Company is conducting its business in compliance with, and is not in violation of, its organizational documents. Parent's organizational documents are in full force and effect. Parent is validly existing as a Delaware corporation and is in good standing under the Laws of the jurisdiction of its organization. Each of Parent and the Company (i) has full power and authority (and all governmental licenses, authorizations, permits, consents and approvals) to (x) own its properties, conduct its business, (y) enter into, and perform its obligations under, this Agreement and, in the case of Parent, any Parent Share Warrants, and (z) consummate the transactions contemplated hereby, and (ii) is duly qualified as a foreign entity, and licensed and in good standing, under the Laws of each jurisdiction where its ownership, lease or operation of property or the conduct of its business requires such qualification or license, in each case of this clause (ii), where the failure to be so qualified, licensed or in good standing could reasonably be expected, individually or in the aggregate, to result in a Parent Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Authority; Execution; Enforceability</u>. This Agreement has been duly authorized, executed and delivered by each of Parent and the Company, and any Parent Share Warrants will be duly authorized, executed and delivered by Parent, and no further consent or authorization is or will be required by Parent, the Company, Parent's or the Company's board of directors (or other equivalent governing body) or the holders of any of Parent's or the Company's equity. This Agreement constitutes a valid, legal and binding obligation of each of Parent and the Company, and any Parent Share Warrant will constitute a valid, legal and binding obligation of Parent, in each case enforceable in accordance with its terms, except as such enforceability may be limited by applicable insolvency, bankruptcy, reorganization, moratorium or other similar Laws affecting creditors' rights generally. No consent, approval, authorization or order of, or registration or filing with any Governmental Entity is required for (i) the execution, delivery and performance by Parent or the Company of this Agreement or the execution, delivery and performance by Parent of any Parent Share Warrants, or (ii) the consummation by Parent or the Company of the transactions contemplated hereby or thereby, in each case except as expressly contemplated thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Current Effect</u>. Other than pursuant to the express terms of the Merger Agreement, as of the date on which the Effective Time occurs, neither Parent nor the Company has granted any license or sublicense with respect to or entered into any other agreement to Transfer or otherwise encumber, any of the Products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>No Violation</u>. The execution, delivery and performance of this Agreement by each of Parent and the Company, Parent's and the Company's compliance with the terms and conditions thereof and, in the case of Parent, any Parent Share Warrants, and Parent's and the Company's consummation of the transactions contemplated hereby and thereby, are not prohibited or limited by, and do not and will not conflict with or result in the breach of or a default under, any provision of the certificate of organization, operating agreement or other formation documents of Parent or the Company, any contract, agreement or instrument binding on or affecting Parent or the Company or any Laws. The offer, issuance and delivery of any Parent Shares pursuant to this Agreement and/or upon exercise of any Parent Share Warrants are (and will be) exempt from the registration and qualification requirements of the Securities Act and any state securities (Blue Sky) Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Authorization of Parent Shares</u>. All Parent Shares issuable pursuant to this Agreement or upon exercise of any Parent Share Warrants have been duly authorized and, when issued when issued and delivered as contemplated hereby or thereby, will be validly issued, fully paid and non-assessable and not subject to any preemptive rights. The issuance and delivery of any Parent Shares and/or Parent Share Warrants pursuant to this Agreement, or any Parent Shares upon exercise of any Parent Share Warrants, will not, (a) obligate Parent to offer to issue, or issue, Parent Shares or other securities to any Person (other than the Contingent Payment Holders) pursuant to any preemptive rights, rights of first refusal, rights of participation or similar rights, or (b) result in any adjustment (automatic, at the election of any Person or otherwise) of the exercise, conversion, exchange or reset price under, or any other anti-dilution adjustment pursuant to, any outstanding securities of Parent.

Exhibit E-17

7. <u>General Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Tax Treatment</u>. For income tax purposes, any payment (whether made in cash, in Parent Share Warrants or in Parent Shares) made under this Agreement to an Initial Contingent Payment Holder shall be treated as additional consideration paid for the Company Shares to the maximum extent permitted by Law, and none of the Parties hereto nor their respective Affiliates shall take any contrary position except as otherwise required by a "determination" within the meaning of Section 1313(a) of the Code (or any analogous provision of applicable state or local Law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Withholding</u>. Each Initial Contingent Payment Holder shall deliver to Parent a completed and executed Internal Revenue Service Form W-9. No amount shall be deducted or withheld from any payments made hereunder to any Contingent Payment Holder that has provided a Form W-9.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Notices</u>. All notices, requests, claims, demands and other communications desired or required to be given under this Agreement shall be in writing and shall be given or made (a) by delivery in person, with receipt confirmed, (b) by a nationally recognized overnight courier service specifying next Business Day delivery (costs prepaid), or (c) by electronic mail, to the respective Parties at the following addresses:

If to the Members' Representative or any Contingent Payment Holder, to:

*The respective address set forth on the signature page hereto.*

with a copy (which shall not constitute notice) to:

Katten Muchin Rosenman LLP<br> 525 W. Monroe Street<br> Chicago, IL 60661<br> Attention: Mark D. Wood; Joshua A. Feiger<br> Email: mark.wood@katten.com; josh.feiger@katten.com

If to Parent or the Company, to:

[________]<br> [________]<br> [________]<br> Attention: [________]<br> E-mail: [________]

Exhibit E-18

with a copy (which shall not constitute notice) to:

Willkie Farr & Gallagher LLP<br> 787 7th Avenue<br> New York, New York 10019<br> Attention: Jared Fertman and Andrew Marmer<br> Email: jfertman@willkie.com; amarmer@willkie.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Members' Representative</u>. Neither the Members' Representative nor its members, managers, directors, officers, contractors, agents or employees, including the Initial Contingent Payment Holders (collectively, the "**Members' Representative Group**") shall be liable in connection with this Agreement, except and only to the extent of the Members' Representative Group's bad faith or fraud. Parent and its Affiliates and Representatives may rely entirely and conclusively, without further inquiry, on its dealings with, and notices to and from, the Members' Representative to satisfy any obligations it may have under this Agreement. The Person then serving as Members' Representative may at any time provide written notice to Parent that it is designating a different Person as successor Member's Representative, whereupon such different Person shall be the Members' Representative for all purposes under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Payment</u>. All payments hereunder (whether in cash, in Parent Share Warrants or in Parent Shares) shall be made without setoff or counterclaim and, except to the extent payable in Parent Share Warrants or Parent Shares in Parent Shares as provided herein, shall be made in U.S. dollars in immediately available funds, using, in the case of the Initial Contingent Payment Holders, such wire information or address for such applicable Initial Contingent Payment Holder as is set forth on <u>Schedule 2</u> hereto, or at such bank or place as the applicable Contingent Payment Holder shall from time to time designate in writing prior to the date such payment is due. Parent shall pay all and any fees, costs and expenses (administrative or otherwise) imposed by banks, clearing houses or any other financial institutions in connection with making any payments under this Agreement, and each Contingent Payment Holder shall pay all and any fees, costs and expenses (administrative or otherwise) imposed on such Contingent Payment Holder by banks, clearing houses or any other financial institutions engaged by such Contingent Payment Holder in connection with receiving such Contingent Payment Holder's payments under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Assignment</u>. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns. Except as provided in <u>Section 4</u> of this Agreement (and subject to the terms, conditions and restrictions contained in this Agreement), neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of law or otherwise by Parent without the prior written consent of the Contingent Payment Holders; <u>provided</u> that no such consent shall be required in connection with an assignment of this Agreement to a wholly owned Subsidiary of Parent; <u>provided</u> that no such assignment shall release Parent from, and Parent shall remain responsible for all of, its obligations under this Agreement. Each Contingent Payment Holder shall have the right to assign this Agreement or its right to receive Net Sales Payments, in each case, in whole or in part, upon written notice to, but without the consent of, Parent, the Members' Representative or any other Person.

Exhibit E-19

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Severability</u>. If any term or provision of this Agreement is determined by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced by any rule or Law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to affect the original intent of the Parties as closely as possible in an acceptable manner to the end that transactions contemplated by this Agreement are fulfilled to the extent possible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Counterparts</u>. This Agreement may be executed in one or more counterparts, all of which shall be deemed an original and all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic image scan transmission, each of which shall be deemed an original, shall be effective as delivery of a manually executed counterpart of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Entire Agreement</u>. This Agreement (including all Exhibits or Schedules hereto and thereto) constitutes the entire agreement, and supersedes all prior agreements and understandings, both written and oral, among the Parties and their Affiliates, or any of them, with respect to the subject matter of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Independent Nature of Contingent Payment Holders</u>. The obligations of each Contingent Payment Holder under this Agreement are several and not joint with the obligations of any other Contingent Payment Holder, and no Contingent Payment Holder shall be responsible in any way for the performance of the obligations of any other Contingent Payment Holder under this Agreement. The obligations of each Contingent Payment Holder under this Agreement and any other agreement entered into in connection therewith are several and not joint with the obligations of any other Contingent Payment Holder, and no Contingent Payment Holder shall be responsible in any way for the performance of the obligations of any other Contingent Payment Holder under this Agreement or any other agreement entered into in connection therewith. Each Contingent Payment Holder shall be responsible only for its own representations, warranties, agreements and covenants under this Agreement and any other agreement entered into in connection therewith. The decision of each Contingent Payment Holder to acquire rights under this Agreement and any other agreement entered into in connection therewith (including rights to received Milestone Payments and Net Sales Payments) has been made by such Contingent Payment Holder independently of any other Contingent Payment Holder and independently of any information, materials, statements or opinions as to the business, affairs, operations, assets, properties, liabilities, results of operations, condition (financial or otherwise) or prospects of Parent or any of its Subsidiaries that may have been made or given by any other Contingent Payment Holder or by any agent, attorney, advisor, representative or employee of any other Contingent Payment Holder, and no Contingent Payment Holder nor any of its agents, attorneys, advisors, representatives or employees shall have any liability to any other Contingent Payment Holder (or any other Person) relating to or arising from any such information, materials, statements or opinions. Nothing contained in this Agreement or any other agreement entered into in connection therewith, and no action taken by any Contingent Payment Holder pursuant hereto or thereto (including a Contingent Payment Holder's acquisition of rights hereunder or thereunder), shall be deemed to constitute the Contingent Payment Holders as, and each of the Contingent Payment Holders acknowledges and agrees that the Contingent Payment Holders do not thereby constitute, a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Contingent Payment Holders are in any way acting in concert or as a group, and neither Parent nor its Affiliates shall assert any contrary position.

Exhibit E-20

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Amendment; Extension; Waiver</u>. This Agreement may not be amended except by an instrument in writing signed on behalf of each of Parent and the Members' Representative. Any agreement on the part of a party to any extension or waiver with respect to this Agreement shall be valid only if set forth in an instrument in writing signed on behalf of such party (which, in the case of an extension or waiver of any obligation of Parent following the Closing, shall be the Members' Representative). The failure of any party to this Agreement to assert any of its rights under this Agreement or otherwise shall not constitute a waiver of such right. In the event of any proposed amendment or modification of this Agreement, Parent shall provide the Administrator (as defined in the Melinta Therapeutics, LLC Equity Value Recognition Plan dated as of [____]) with notice of all terms of such amendment or modification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Interpretation</u>. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any Exhibit or any certificate or other document made or delivered pursuant hereto but not otherwise defined therein shall have the meaning as defined in this Agreement. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The word "will" shall be construed to have the same meaning as the word "shall". The words "include", "includes" and "including" shall be deemed to be followed by the phrase "without limitation". The word "extent" in the phrase "to the extent" shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply "if". Whenever the word "or" is used in this Agreement, it shall not be deemed exclusive. All references to "dollars" or "$" shall refer to the lawful currency of the U.S. Unless the context requires otherwise (a) any definition of or reference to any contract, instrument or other document or any Law herein shall be construed as referring to such contract, instrument or other document or Law as from time to time amended, supplemented or otherwise modified, (b) any reference herein to any Person shall be construed to include such Person's successors and assigns, (c) the words "hereby", "herein", "hereof" and "hereunder", and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof and (d) all references herein to Sections and Exhibits shall be construed to refer to Sections of, and Exhibits to, this Agreement. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting or causing any instrument to be drafted. The Parties have participated jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Cooperation</u>. The Parties agree to provide reasonable cooperation with each other and to execute and deliver such further documents, certificates, agreements and instruments and to take such actions as may be reasonably requested by the other parties to evidence or effect the transactions contemplated by, and to carry out the intent and purposes of, this Agreement.

Exhibit E-21

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Governing Law</u>. This Agreement shall be governed by, and construed in accordance with, and all disputes arising out of or in connection with this Agreement shall be resolved under, the Laws of the State of Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of Laws of any jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Cumulative Remedies</u>. Upon the breach by Parent of any representation, warranty, covenant or term of this Agreement, the Contingent Payment Holders shall have all of the rights and remedies under this Agreement, under Law or in equity to which they are entitled, including as provided in <u>Section 7(p)(i)</u>. Without limiting the foregoing, in the event the Members' Representative or any Contingent Payment Holder reasonably disputes the occurrence of any Milestone, any amount of Net Sales or Parent's use of Commercially Reasonable Efforts with respect to any Product, such may pursue available remedies in accordance herewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Specific Enforcement; Jurisdiction</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Parties acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with its specific terms or were otherwise breached, and that monetary damages, even if available, would not be an adequate remedy therefor. It is accordingly agreed that the Parties shall be entitled to an injunction or injunctions, or any other appropriate form of equitable relief, to prevent breaches of this Agreement and to enforce specifically the performance of the terms and provisions of this Agreement in any court referred to in <u>clause (ii)</u> of this <u>Section 7</u>, without proof of damages or otherwise (and each party hereby waives any requirement for the securing or posting of any bond or other security in connection with such remedy), this being in addition to any other remedy to which they are entitled at Law or in equity. The Parties further agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to Law or inequitable for any reason, nor to assert that a remedy of monetary damages would provide an adequate remedy. Each of the Parties acknowledges and agrees that the right of specific enforcement is an integral part of this Agreement and without such right, none of the Parties would have entered into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Each of the Parties hereby irrevocably submits to the exclusive jurisdiction of the courts of the State of Delaware and to the jurisdiction of the U.S. District Court for the State of Delaware, for the purpose of any proceeding arising out of or relating to this Agreement or the actions of Parent or any Contingent Payment Holder in the negotiation, administration, performance and enforcement thereof, and each of the Parties hereby irrevocably agrees that all claims with respect to such proceeding may be heard and determined exclusively in the Delaware Court of Chancery or, solely if the Delaware Court of Chancery does not have subject matter jurisdiction thereof, any other court of the State of Delaware or any federal court sitting in the State of Delaware. Each of the Parties (i) consents to submit itself to the personal jurisdiction of the Delaware Court of Chancery, any other court of the State of Delaware and any federal court sitting in the State of Delaware in the event any proceeding arises out of this Agreement, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (iii) irrevocably consents to the service of process in any proceeding arising out of or relating to this Agreement, on behalf of itself or its property, by U.S. registered mail to such party's respective address set forth in <u>Section 7(c)</u> (<u>provided</u> that nothing in this <u>Section 7(p)(ii)</u> shall affect the right of any party to serve legal process in any other manner permitted by Law) and (iv) agrees that it will not bring any proceeding relating to this Agreement in any court other than the Delaware Court of Chancery (or, solely if the Delaware Court of Chancery shall be unavailable, any other court of the State of Delaware or any federal court sitting in the State of Delaware). The Parties agree that a final trial court judgment in any such proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law; <u>provided</u> that nothing in the foregoing shall restrict any party's rights to seek any post-judgment relief regarding, or any appeal from, such final trial court judgment.

*[Signature Page Follows]*

Exhibit E-22

**IN WITNESS WHEREOF**, the Parties have caused this Contingent Payment Agreement to be executed by their duly authorized representatives as of the date first set forth above.

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| | |
|:---|:---|
| **<u>INITIAL CONTINGENT PAYMENT HOLDERS</u>**: | **<u>INITIAL CONTINGENT PAYMENT HOLDERS</u>**: |
| **DEERFIELD PRIVATE DESIGN FUND IV, L.P.** | **DEERFIELD PRIVATE DESIGN FUND IV, L.P.** |
| By: | Deerfield Mgmt IV, L.P., its General Partner |
| By: | J.E. Flynn Capital IV, LLC, its General Partner |
| By: |  |
| Name: |  |
| Title: |  |
| Address: |  |
| **DEERFIELD PRIVATE DESIGN FUND III, L.P.** | **DEERFIELD PRIVATE DESIGN FUND III, L.P.** |
| By: | Deerfield Mgmt III, L.P., its General Partner |
| By: | J.E. Flynn Capital III, LLC, its General Partner |
| By: |  |
| Name: |  |
| Title: |  |
| Address: |  |

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[*Signature Page to Contingent Payment Agreement*]

Exhibit E-23

**IN WITNESS WHEREOF**, the Parties have caused this Contingent Payment Agreement to be executed by their duly authorized representatives as of the date first set forth above.

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| | |
|:---|:---|
| **<u>MEMBERS' REPRESENTATIVE</u>**: | **<u>MEMBERS' REPRESENTATIVE</u>**: |
| **DEERFIELD PRIVATE DESIGN FUND IV, L.P.** | **DEERFIELD PRIVATE DESIGN FUND IV, L.P.** |
| By: | Deerfield Mgmt IV, L.P., its General Partner |
| By: | J.E. Flynn Capital IV, LLC, its General Partner |
| By: |  |
| Name: |  |
| Title: |  |
| Address: |  |

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[*Signature Page to Contingent Payment Agreement*]

Exhibit E-24

**IN WITNESS WHEREOF**, the Parties have caused this Contingent Payment Agreement to be executed by their duly authorized representatives as of the date first set forth above.

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| |
|:---|
| **<u>PARENT</u>:** |
| **CORMEDIX INC.** |
| By: |
| Name: |
| Title: |

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[*Signature Page to Contingent Payment Agreement*]

Exhibit E-25

**IN WITNESS WHEREOF**, the Parties have caused this Contingent Payment Agreement to be executed by their duly authorized representatives as of the date first set forth above.

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| |
|:---|
| **<u>COMPANY</u>:** |
| **MELINTA THERAPEUTICS, LLC** |
| By: |
| Name: |
| Title: |

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[*Signature Page to Contingent Payment Agreement*]

Exhibit E-26

**EXHIBIT F**

**Form of Registration Rights Agreement**

[See attached]

**EXHIBIT F**

**REGISTRATION RIGHTS AGREEMENT** 

REGISTRATION RIGHTS AGREEMENT (this "Agreement"), dated as of [____], 2025, by and among CorMedix Inc., a Delaware corporation (the "Company"), Deerfield Private Design Fund IV, L.P. ("DPDF IV"), Deerfield Private Design Fund III, L.P. ("DPDF III" and, together with DPDF IV, the "Initial Holders") and each other Holder (as defined below) from time to time signatory hereto.

**WHEREAS:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. In accordance with the Agreement and Plan of Merger, dated as of August 7, 2025 (as the same may be amended, restated, amended and restated or otherwise modified from time to time, the "Merger Agreement"), by and among the Company, Coriander BidCo LLC, a Delaware limited liability company ("Merger Sub"), Melinta Therapeutics, LLC, a Delaware limited liability company, and [●], solely in its capacity as representative, agent and attorney-in-fact of the Equityholders (as defined in the Merger Agreement), the Company issued (or upon delivery of s letter of transmittal will issue) to the Initial Holders an aggregate of [____] shares (the "Merger Shares"), of the common stock, par value $0.001 per share ("Common Stock"), of the Company, and/or Closing Share Warrants (as defined in the Merger Agreement) exercisable for shares of Common Stock (the "Merger Warrant Shares").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. In connection with the consummation of the transactions contemplated by the Merger Agreement, the Company, the Initial Holders and the Members' Representative, solely in its capacity as representative of the Initial Holders, entered into that certain Contingent Payment Agreement, dated as of the date hereof (as the same may be amended, restated, amended and restated or otherwise modified from time to time, the "CPA"), pursuant to which the Company agreed to make (or cause one or more of its affiliates to make) certain payments to the Initial Holders. The CPA provides that the Company's obligations to make (or cause to be made) some or all of the Milestone Payments (as defined in the CPA) may be satisfied through the issuance and delivery of shares of Common Stock ("Contingent Payment Shares"), or Parent Share Warrants (as defined in the CPA) exercisable for shares of Common Stock (the "Contingent Warrant Shares"), upon the terms, and subject to the conditions, set forth in the CPA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. In order to induce the Initial Holders to approve the adoption of the Merger Agreement and the transactions contemplated thereby, and to consummate the transactions contemplated thereby and by the CPA, and as a condition to such consummation, the Company has agreed to provide certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute (collectively, the "Securities Act"), and applicable state securities laws.

Exhibit F-1

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and each Initial Holders hereby agree as follows:

1. DEFINITIONS.

a. As used in this Agreement, the following terms shall have the following meanings (all capitalized terms used and not otherwise defined herein having the respective meanings set forth in the Merger Agreement):

(i) (i) "Additional Filing Deadline" means, with respect to any Registration Statements that may be required pursuant to Section 2(a)(ii), (A) the thirtieth (30th) day following the first date on which such Registrable Securities may then be included in a Registration Statement if such Registration Statement is required to be filed because the SEC shall have notified the Company in writing that certain Registrable Securities were not eligible for inclusion in a previously filed Registration Statement, or (B) if such additional Registration Statement is required for a reason other than as described in (A) above, the thirtieth (30th) day following the date on which the Company first knows that such additional Registration Statement is required.

(i) "Additional Registration Deadline" means, with respect to any additional Registration Statement(s) required to be filed pursuant to Section 2(a)(ii), the forty-fifth (45<sup>th</sup>) day following the applicable Additional Filing Deadline.

(ii) "Applicable Securities Laws" means all applicable securities laws in all jurisdictions relevant to the Company, the Company's securities or the issuance of securities of the Purchaser pursuant to the terms of this Agreement, including but not limited to, the Securities Act of 1933, the Exchange Act, and the rules, regulations and policies of the SEC and Nasdaq Global Market;

(iii) "Business Day" means any day, except a Saturday, Sunday or legal holiday, on which banking institutions in the city of New York, New York are authorized or obligated by law or executive order to close; provided, however, for clarification, bank institutions shall not be deemed to be authorized or obligated by law or executive order to remain closed due to "stay at home," "shelter-in-place," "non-essential employee" or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in the City of New York generally are open for use by customers on such day.

(iv) "Closing Date" means [__], 2025.

(v) "Exchange Act" means the Securities Exchange Act of 1934, as amended, together with the rules and regulations promulgated thereunder, and any successor statute.

(vi) "FINRA" means the Financial Industry Regulatory Authority Inc. (or successor thereto).

(vii) "Filing Deadline" for the Registration Statement required pursuant to Section 2(a)(i), shall mean [________]<sup>1</sup>, 2025 (the "Initial Filing Deadline"), and for each Registration Statement required pursuant to Section 2(a)(ii) means the Additional Filing Deadline.

(viii) "Holder" means any Initial Holder and any transferee or assignee who agrees in writing to become bound by the provisions of this Agreement in accordance with Section 10 hereof.

<sup>1</sup> NTD: Insert the date that is 10 Business Days following the Closing Date.

Exhibit F-2

(ix) "Person" means and includes any natural person, partnership, joint venture, corporation, trust, limited liability company, limited company, joint stock company, unincorporated organization, government entity or any political subdivision or agency thereof, or any other entity.

(x) "Prospectus" means (i) any prospectus (preliminary or final) included in any Registration Statement, as may be amended or supplemented by any prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement and by all other amendments and supplements to such prospectus, including post-effective amendments, and all material incorporated by reference in such prospectus, and (ii) any "free writing prospectus" as defined in Rule 405 under the Securities Act relating to any offering of Registrable Securities pursuant to a Registration Statement.

(xi) "Register," "Registered," and "Registration" refer to a registration effected by preparing and filing a Registration Statement or Statements in compliance with the Securities Act and pursuant to Rule 415, and such Registration Statement becoming effective under the Securities Act (to the extent required, by declaration or ordering of effectiveness, of such Registration Statement by the United States Securities and Exchange Commission (the "SEC")).

(xii) "Registrable Securities" means (a) the Merger Shares, (b) the Merger Warrant Shares issued or issuable upon exercise in full of the Closing Share Warrants, assuming the aggregate exercise price thereof is satisfied in cash and without giving effect to any limitations on exercise thereof, (c) any Contingent Payment Shares issued or issuable pursuant to the CPA, (d) any Contingent Warrant Shares issued or issuable upon exercise in full of any Parent Share Warrants, assuming the exercise thereof for cash and without giving effect to any limitations on exercise thereof and (e) any securities issued or issuable upon any stock split, dividend, distribution, recapitalization, reorganization, reclassification or similar event with respect to any of the foregoing; provided that any securities that would otherwise qualify as Registrable Securities but (i) have been sold pursuant to a Registration Statement or pursuant to Rule 144 or (ii) may be immediately sold to the public without registration or restriction (including without limitation as to volume by each holder thereof) and without compliance with any "current public information" requirement, pursuant to Rule 144 under the Securities Act, assuming (as applicable) the exercise of all Closing Share Warrants and Parent Share Warrants for cash, shall cease to be a "Registrable Security".

(xiii) "Registration Deadline" shall mean, (a) for purposes of any Registration Statement required pursuant to Section 2(a)(i), the date that is (x) seventy-five (75) days after the applicable Filing Deadline or (y) if earlier than the date described in clause (a)(x) of this definition, five (5) Trading Days after the Company is first notified by the SEC that such Registration Statement will not be reviewed or is no longer subject to further review and comment, and (b) with respect to any Registration Statement required pursuant to Section 2(a)(ii), the Additional Registration Deadline. Any Registration Deadline (or any extension thereof) shall be automatically extended if the Company has, and continues to use, its reasonable best efforts to respond to and resolve any comments to the Registration Statement received from the SEC.

(xiv) "Registration Effective Date" shall mean the date that the first Registration Statement covering the Registrable Securities that the Company is required to file pursuant to this Agreement has been declared effective by the SEC or otherwise become effective under the Securities Act.

(xv) "Registration Statement(s)" means any registration statement(s) of the Company filed under the Securities Act that covers the resale of any of the Registrable Securities pursuant to the provisions of this Agreement, all amendments and supplements to such Registration Statement, including post-effective amendments, and all exhibits to, and all material incorporated by reference in, such Registration Statement.

(xvi) "Required Holders" means holders of a majority in interest of then-outstanding Registrable Securities.

Exhibit F-3

(xvii) "Restricted Shares"<sup>2</sup> means, with respect to DPDF IV, an aggregate of [_______] Merger Warrant Shares issuable upon exercise of Tranche 1 Closing Share Warrants and Tranche 2 Closing Share Warrants and, with respect to DPDF III, an aggregate of [_______] Merger Warrant Shares issuable upon exercise of Tranche 1 Closing Share Warrants and Tranche 2 Closing Share Warrants; provided, that such shares shall cease to be Restricted Shares upon the expiration of the Lock-Up Period or on such earlier date as is provided in Section 11(a) or in such Closing Share Warrants. For the avoidance of doubt, neither the Company's 4.00% Convertible Senior Notes due 2030, any shares of Common Stock issuable upon the conversion thereof nor any other securities of the Company acquired by any Holder other than pursuant to the Merger Agreement will be deemed Restricted Shares or subject to the Lock-Up (as defined below).

(xviii) "Rule 415" means Rule 415 under the Securities Act or any successor rule providing for the offering of securities on a continuous basis.

(xix) "Trading Day" shall mean any day on which the Common Stock is traded for any period on the Nasdaq Global Market or, if not the Nasdaq Global Market, the principal securities exchange or other securities market on which the Common Stock is then being traded.

(xx) "Tranche 1 Closing Share Warrants" means Closing Share Warrants that, as of the date hereof, provide for a Lock-Up Release Date as of the First Lock-Up Release Date (as defined below).

(xxi) "Tranche 2 Closing Share Warrants" means Closing Share Warrants that, as of the date hereof, provide for a Lock-Up Release Date as of the Second Lock-Up Release Date.

2. REGISTRATION.

a. **MANDATORY REGISTRATION.**

(i) Following the date of this Agreement, the Company shall prepare, and, on or prior to the applicable Filing Deadline, file with the SEC a Registration Statement (the "Mandatory Registration Statement") on Form S-3 (or, if Form S-3 is not then available, on such form of Registration Statement as is then available to effect a Registration of all of the Registrable Securities, subject to the consent of the Holders, which consent shall not be unreasonably withheld), covering the resale of all of the Registrable Securities. The number of shares of Common Stock initially included in such Registration Statement shall be no less than [_______], subject to adjustment for any Stock Event occurring prior to the effective date of such Registration Statement; provided that such number shall include the total number of the Merger Shares and, with respect to the Contingent Payment Shares and Contingent Warrant Shares, collectively, shall include the Company's good faith estimate of the number of Contingent Payment Shares and/or Contingent Warrant Shares that may become issuable under the CPA (directly or indirectly), based upon the then current trading price per share of Common Stock, assuming the maximum amount of Milestone Payments become payable thereunder and the Company elects to satisfy all of its obligations to make such payments through the issuance and delivery of Contingent Payment Shares and Parent Share Warrants (assuming any Parent Share Warrants are exercised for cash, and without regard to any limitations on the exercise thereof).

<sup>2</sup> Note to Draft: Restricted Shares to also include Merger Shares if over one-third of the Closing Merger Consideration consists of Merger Shares.

Exhibit F-4

(ii) If for any reason, despite the Company's use of its reasonable best efforts to include all of the Registrable Securities requested or required to be included in any Registration Statement filed pursuant to Section 2(a)(i) (and subject to Section 3(q) below), the SEC does not permit all such Registrable Securities to be included in such Registration Statement, or for any other reason any such Registrable Securities are not then included in a Registration Statement, then the Company shall prepare, and, as soon as practicable but in no event later than the Additional Filing Deadline, file with the SEC an additional Registration Statement on Form S-3 (or, if Form S-3 is not then available, on such form of Registration Statement as is then available to effect a Registration of the Registrable Securities, subject to the consent of the Holders, which consent shall not be unreasonably withheld) covering the resale of all Registrable Securities requested or required to be included in such Registration Statement filed pursuant to Section 2(a)(i) and not already covered by an existing and effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415.

(iii) Subject to any SEC comments, any Registration Statement pursuant to this Section 2(a) shall include a "plan of distribution" approved by the holders of a majority-in-interest of the Registrable Securities to be included in such Registration Statement. No Holder shall be named as an "underwriter" in the Registration Statement without the Holder's prior written consent. Each Registration Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided to, and shall be subject to the approval, which shall not be unreasonably withheld or delayed, of the Holders and Legal Counsel (as defined below) prior to its filing or other submission; provided, that, notwithstanding any other provision in this Agreement, if despite the Company's compliance with Section 3(p), the SEC or the Securities Act requires such Holder(s) to be named as an "underwriter" in the Registration Statement and such Holder(s) withhold written consent to be so named, the Company's failure to fulfill its obligations under this Section 2(a) shall solely as a result thereof shall not constitute a violation of this Agreement.

3. OBLIGATIONS OF THE COMPANY. In connection with any Registration of the Registrable Securities hereunder, the Company shall have the following obligations:

a. The Company shall prepare promptly, and file with the SEC as soon as practicable after such registration obligation arises hereunder (but in no event later than the applicable Filing Deadline), such Registration Statements with respect to the Registrable Securities as provided in Section 2(a), and thereafter use its reasonable best efforts to cause each such Registration Statement relating to Registrable Securities to become effective as soon as possible after such filing, but in any event shall use its reasonable best efforts to cause each such Registration Statement relating to Registrable Securities to become effective no later than the applicable Registration Deadline, and shall use its reasonable best efforts to keep such Registration Statement current and effective pursuant to Rule 415 at all times after its effective date until the date on which all of the securities included in such Registration Statement no longer constitute Registrable Securities (the "Registration Period"), which Registration Statement (including any amendments or supplements thereto and Prospectuses contained therein or related thereto), except for information provided in writing by a Holder pursuant to Section 4(a), shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein not misleading. In the event that Form S-3 is not available for the registration of the resale of any Registrable Securities hereunder (but, for the avoidance of doubt, without in any way affecting the Company's obligation to Register the resale of the Registrable Securities on such other form as is available, as provided in Section 2(a)), (i) the Company shall undertake to file, within twenty (20) days of such time as such form is available for such Registration, a post-effective amendment to the Registration Statement then in effect, or otherwise file a Registration Statement on Form S-3, registering such Registrable Securities on Form S-3; provided that the Company shall maintain the effectiveness of the Registration Statement then in effect until such time as a Registration Statement (or post-effective amendment) on Form S-3 covering such Registrable Securities has been declared effective by the SEC, and (ii) the Company shall provide that any Registration Statement on Form S-1 filed hereunder shall incorporate documents by reference (including by way of forward incorporation by reference) to the maximum extent possible. If the Company is a "well-known seasoned issuer" (as defined in Rule 405 under the Securities Act) at the time the Company is requested or required hereunder to file a Registration Statement or amendment to a Registration Statement hereunder (including pursuant to Section 3(b)), the Company shall use its best efforts to file the Registration Statement or amendment as an "automatic shelf registration statement" (as defined in Rule 405 under the Securities Act).

Exhibit F-5

b. The Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements to each Registration Statement and the Prospectus used in connection with each Registration Statement as may be necessary to keep each Registration Statement (or, as applicable, another Registration Statement covering the Registrable Securities) current and effective at all times during the Registration Period, and, during the Registration Period, shall comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by each Registration Statement until such time as all of such Registrable Securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof as set forth in such Registration Statement. In the event that on any Trading Day (as defined below) (the "Registration Trigger Date") the number of shares available under the Registration Statements filed pursuant to this Agreement is insufficient to cover all of the Registrable Securities, including all of the Contingent Warrant Shares and Merger Warrant Shares issuable upon exercise of Parent Share Warrants and Closing Share Warrants (in each case, assuming the exercise thereof for cash, and without giving effect to any limitations on the exercise thereof), the Company shall amend the Registration Statements, or file a new Registration Statement (on the short form available therefor, if applicable), or both, so as to cover the total number of Registrable Securities so issued or issuable (assuming the exercise of the Parent Share Warrants and Closing Share Warrants for cash, and without giving effect to any limitations on the exercise thereof) as of the Registration Trigger Date as soon as practicable, but in any event within twenty (20) days after the Registration Trigger Date. The Company shall use its reasonable best efforts to cause such amendment and/or new Registration Statement to become effective as soon as practicable following the filing thereof, but in any event the Company shall cause such amendment and/or new Registration Statement to become effective within sixty (60) days of the Registration Trigger Date (or, if earlier, five (5) Trading Days after the Company is first notified by the SEC that such Registration Statement will not be reviewed or is no longer subject to further review and comment) or as promptly as practicable in the event the Company is required to increase its authorized shares.

c. The Company shall furnish to each Holder and Legal Counsel (i) promptly after the same is prepared and publicly distributed, publicly filed with the SEC or received by the Company, one copy of each Registration Statement and any amendment thereto (other than the Company's filings under the Exchange Act and other than any amendment or supplement to a Registration Statement that is substantially similar to the Company's filings under the Exchange Act), each preliminary Prospectus and Prospectus and each amendment or supplement thereto, and, each letter written by or on behalf of the Company to the SEC or the staff of the SEC, and each item of correspondence from the SEC or the staff of the SEC, in each case relating to such Registration Statement (other than any portion thereof which contains information for which the Company has sought or intends to seek confidential treatment or which contains or reflects any material non-public information with respect to the Company or its securities), and (ii) such number of copies of a Prospectus, including a preliminary Prospectus, and all amendments and supplements thereto and such other documents as a Holder may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Holder; provided that the Company may provide any such copies in electronic form only. The Company will promptly notify each of the Holders by electronic mail of the effectiveness of each Registration Statement or any post-effective amendment thereto. The Company shall use reasonable best efforts to promptly respond to any and all comments received from the SEC with respect to any Registration Statement filed pursuant to this Agreement, with a view towards causing each Registration Statement or any amendment thereto to become effective (to the extent required, by declaration or ordering of effectiveness, of such Registration Statement or amendment by the SEC) as soon as practicable, and, as soon as practicable, but in no event later than five (5) Business Days, following the resolution or clearance of all SEC comments or, if applicable, following notification by the SEC that any such Registration Statement or any amendment thereto will not be subject to review, shall file a request for acceleration of effectiveness of such Registration Statement (to the extent required for such Registration Statement or amendment to become effective, by declaration or ordering of effectiveness, of such Registration Statement or amendment by the SEC) to a time and date not later than two (2) Business Days after the submission of such request. No later than one (1) Business Days after the Registration Statement becomes effective, the Company shall file with the SEC the final Prospectus included in the Registration Statement pursuant to Rule 424 (or successor thereto) under the Securities Act.

Exhibit F-6

d. The Company shall use its reasonable best efforts to (i) register and qualify, in any jurisdiction where registration and/or qualification is required, the Registrable Securities covered by the Registration Statements under such other securities or "blue sky" laws of such jurisdictions in the United States as the Holders shall reasonably request, (ii) prepare and file in those jurisdictions such amendments (including post-effective amendments) and supplements to such registrations and qualifications as may be reasonably necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions as may be reasonably necessary to maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; except that in no event shall the Company be required to qualify to do business as a foreign corporation in any jurisdiction where it would not, but for the requirements of this paragraph (d), be required to be so qualified, to subject itself to taxation in any such jurisdiction or to consent to general service of process in any such jurisdiction, except where the Company is then already required to be so qualified, already subject to taxation or required to consent to general service of process, as applicable.

e. Subject to Section 11, as promptly as practicable after becoming aware of such event, the Company shall (i) notify each Holder that holds Registrable Securities of the happening of any event, of which the Company has knowledge, as a result of which the Prospectus included in any Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading, and, subject to Section 3(r), (ii) shall use its reasonable best efforts to promptly prepare a supplement or amendment to any Registration Statement to correct such untrue statement or omission, and (iii) deliver such number of copies of such supplement or amendment to each Holder as such Holder may reasonably request.

f. The Company shall use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness of any Registration Statement and, if such an order is issued, to obtain the withdrawal of such order as promptly as reasonably practicable and to notify each Holder that holds Registrable Securities (and, in the event of an underwritten offering, the managing underwriters) of the issuance of such order and the resolution thereof, in each case as promptly as reasonably practicable.

g. The Company shall permit one outside legal counsel designated by the Holders (which shall be Katten Muchin Rosenman LLP (Attn: Mark D. Wood) or such other counsel as shall have been designated by the Required Holders) ("Legal Counsel") to review such Registration Statement and all amendments and supplements thereto (as well as all requests for acceleration or effectiveness thereof but excluding the Company's filings under the Exchange Act and excluding any amendment or supplement to a Registration Statement that is substantially similar to the Company's filings under the Exchange Act), a reasonable period of time prior to their filing with the SEC (not less than three (3) Business Days prior to such filing) and not file any documents in a form to which Legal Counsel reasonably objects; provided that, notwithstanding the foregoing, in no event shall the Company be (i) required to file any document with the SEC which in the view of the Company or its counsel contains any untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make any statement therein not misleading or (ii) prohibited from filing any document with the SEC which the Company or its counsel reasonably believes to be required by law to be so filed.

h. The Company shall hold in confidence and not make any disclosure of information concerning a Holder provided to the Company unless (i) disclosure of such information is necessary to comply with federal or state securities laws or otherwise required in the context of any Registration Statement or offering of securities in which any Holder participates, (ii) the disclosure of such information is necessary to avoid or correct a misstatement or omission in any Registration Statement, (iii) the release of such information is ordered pursuant to a subpoena or other order from a court or governmental body of competent jurisdiction, or (iv) such information has been made generally available to the public other than by disclosure in violation of this Agreement or any other agreement. The Company agrees that it shall, upon learning that disclosure of such information concerning any Holder is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt notice to such Holder prior to making such disclosure, and allow such Holder, at its expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such information.

Exhibit F-7

i. The Company shall use its reasonable best efforts to cause all the Registrable Securities covered by each Registration Statement to be listed on each securities exchange on which securities of the same class or series issued by the Company are then listed, and to arrange for at least two market makers to register with FINRA as such with respect to such Registrable Securities.

j. The Company shall provide a transfer agent and registrar, which may be a single entity, for the Registrable Securities not later than the effective date of the initial Registration Statement.

k. The Company shall cooperate with each Holder that holds Registrable Securities being offered to facilitate the timely (i) preparation and delivery of certificates (not bearing any restrictive legends) representing Registrable Securities to be offered pursuant to such Registration Statement, and enable such certificates to be registered in such names and in such denominations or amounts, as the case may be, or (ii) crediting of the Registrable Securities to be offered pursuant to a Registration Statement to the applicable account (or accounts) with The Depository Trust Company ("DTC") through its Deposit/Withdrawal At Custodian (DWAC) system, in any such case as such Holder may reasonably request.

l. At the reasonable request of a Holder, the Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements to a Registration Statement and any Prospectus used in connection with the Registration Statement as may be necessary in order to change the plan of distribution set forth in such Registration Statement, in each case as promptly as is reasonably practicable.

m. The Company shall not, and shall not agree to, allow the holders of any Common Stock or other securities of the Company to include any of their securities (other than Registrable Securities) in any Registration Statement filed pursuant to Section 2(a) or any amendment or supplement thereto under Section 3(b) hereof without the consent of the Required Holders. In addition, the Company shall not include any securities for its own account or the account of others in any Registration Statement filed pursuant to Section 2(a) or any amendment or supplement thereto filed pursuant to Section 3(b) hereof without the consent of the Required Holders.

n. The Company shall comply in all material respects with all applicable laws related to a Registration Statement and offering and sale of securities and all applicable rules and regulations of governmental authorities in connection therewith (including the Securities Act and the Exchange Act and the rules and regulations promulgated by the SEC).

o. If required by the FINRA Corporate Financing Department, the Company shall promptly effect a filing with FINRA pursuant to FINRA Rule 5110 (or successor thereto) with respect to the public offering contemplated by resales of securities under the Registration Statement (an "Issuer Filing"), and pay the filing fee required by such Issuer Filing. The Company shall use its reasonable best efforts to pursue the Issuer Filing until FINRA issues a letter confirming that it does not object to the terms of the offering contemplated by the Registration Statement.

Exhibit F-8

p. If at any time the SEC advises the Company in writing that the offering of some or all of the Registrable Securities in a Registration Statement is not eligible to be made on a delayed or continuous basis under the provisions of Rule 415 under the Securities Act, the Company shall use its reasonable best efforts to persuade the SEC that the offering contemplated by a Registration Statement is a bona fide secondary offering and not an offering "by or on behalf of the issuer" as defined in Rule 415 and that none of the Holders is an "underwriter." The Holders shall have the right to participate or have one legal counsel on behalf of all Holders participate in any meetings or discussions with the SEC regarding the SEC's position and to comment or have their respective counsel comment on any written submission made to the SEC with respect thereto. In the event that, despite the Company's reasonable best efforts and compliance with the terms of this Section 3(p), the SEC refuses to alter its position, the Company shall remove from the Registration Statement such portion of the Registrable Securities as the SEC requires in writing be removed therefrom. Any such cut-back imposed by the SEC as contemplated by this Section 3(p) shall be imposed on such Registrable Securities as the Required Holders may elect, on a pro rata basis (based upon the applicable type of Registrable Securities held by each of the Holders), except to the extent otherwise required by the SEC.

q. Subject to the limitations contained herein, the Company shall use its reasonable best efforts to take all other reasonable actions arising out of its obligations under this Agreement and necessary to facilitate the disposition by the Holders of the Registrable Securities pursuant to a Registration Statement.

r. Notwithstanding anything to the contrary in Section 3(e), the Company may postpone effecting a Registration with respect to any Registration Statements that may be required pursuant to Section 2(a)(ii) or Section 3(b) or, at any time after the effective date of the applicable Registration Statement, the Company may suspend the use of any prospectus forming a part of such Registration Statement if the Company determines, based on the advice of counsel, that it would otherwise be required to disclose material non-public information concerning the Company, the disclosure of which (i) is not otherwise required (based on the advice of counsel) and which the Company has a bona fide business purpose for preserving in confidence and (ii) at the time is not, in the good faith opinion of the Company and its counsel, in the best interests of the Company (the period of such suspension, a "Grace Period"); provided, that the Company shall (i) promptly notify the Holders in writing of the existence of material non-public information giving rise to a Grace Period (provided that in each notice the Company shall not disclose the content of such material non-public information to any Holder unless otherwise requested in writing by such Holder) and the date on which the Grace Period will begin, and (ii) as soon as such date may be determined, promptly notify the Holders in writing of the date on which the Grace Period ends; and, provided, further, that (A) no Grace Period shall exceed forty-five (45) consecutive days, (B) during any three hundred sixty-five (365) day period, such Grace Periods shall not exceed an aggregate of ninety (90) days, and (C) the first day of any Grace Period must be at least forty-five (45) days after the last day of any prior Grace Period (each Grace Period that satisfies all of the requirements of this Section 3(r) being referred to as an "Allowable Grace Period"). For purposes of determining the length of a Grace Period above, the Grace Period shall begin on and include the date the Holders receive the notice referred to in clause (i) and shall end on and include the later of the date the Holders receive the notice referred to in clause (ii) and the date referred to in such notice. The provisions of Section 3(e) hereof shall not be applicable during the period of any Allowable Grace Period. Upon expiration of the Grace Period, the Company shall again be bound by the first sentence of Section 3(e) with respect to the information giving rise thereto unless such material non-public information is no longer applicable.

Exhibit F-9

s. The Company shall not grant any Person any registration rights with respect to shares of Common Stock or any other securities of the Company other than registration rights that will not adversely affect the rights of the Holders hereunder (including by limiting in any way the number of Registrable Securities that could be included in any Registration Statement pursuant to Rule 415) and shall not otherwise enter into any agreement that is inconsistent with the rights granted to the Holders hereunder; provided that the grant of registration rights to other current or future securityholders shall not in and of itself be deemed to adversely affect the rights of the Holders.

t. At all times during the Registration Period, (a) the Common Stock shall be eligible for clearing through DTC, through its Deposit/Withdrawal At Custodian (DWAC) system; (b) the Company shall be eligible and participating in the Direct Registration System (DRS) of DTC with respect to the Common Stock; (c) the transfer agent for the Common Stock shall be a participant in, and the Common Stock shall be eligible for transfer pursuant to, DTC's Fast Automated Securities Transfer Program (or successor thereto); and (d) the Company shall use its reasonable best efforts to cause the Common Stock to not at any time be subject to any DTC "chill," "freeze" or similar restriction with respect to any DTC services, including the clearing of shares of Common Stock through DTC, and, in the event the Common Stock becomes subject to any DTC "chill," "freeze" or similar restriction with respect to any DTC services, the Company shall use its reasonable best efforts to cause any such "chill," "freeze" or similar restriction to be removed at the earliest possible time.

4. OBLIGATIONS OF THE HOLDERS.

a. It shall be a condition precedent to the obligations of the Company to complete the Registration pursuant to this Agreement with respect to the Registrable Securities of a Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required to effect the Registration of such Registrable Securities and shall execute such documents in connection with such registration as the Company may reasonably request. At least five (5) Business Days prior to the first anticipated filing date of a Registration Statement, the Company shall notify each Holder of the information the Company requires from such Holder. Any such information shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein not misleading.

b. Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3(e) or Section 3(f), such Holder will immediately discontinue disposition of Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until such Holder's receipt of the copies of the supplemented or amended prospectus contemplated by Section 3(e) or Section 3(f); provided, however, that the foregoing shall not prohibit or require the Holder to discontinue the settlement of any sale of Registrable Securities with respect to which an Holder has entered into a contract for sale prior to the Holder's receipt of a notice from the Company of the happening of any event of the kind described in Section 3(e) or 3(f).

Exhibit F-10

5. RESERVED.

6. EXPENSES OF REGISTRATION. All reasonable expenses, other than underwriting discounts and commissions or other charges of any broker-dealer acting on behalf of the Investors, incurred in connection with Registrations, filings or qualifications pursuant to Section 2, including all registration, listing and qualification fees, printers and accounting fees, and the fees and disbursements of counsel for the Company shall be borne by the Company. The Company shall also reimburse the Holders for the reasonable fees and disbursements of Legal Counsel in the aggregate amount up to $35,000 per Registration in connection with Registrations pursuant to Section 2 or 3 of this Agreement.

7. INDEMNIFICATION. In the event any Registrable Securities are included in a Registration Statement under this Agreement:

a. The Company will indemnify, hold harmless and defend (i) each Holder and (ii) the directors, officers, partners, managers, members, employees and agents of each Holder, and each Person who controls any Holder within the meaning of the Securities Act or the Exchange Act, if any, (each, an "Indemnified Person"), against any joint or several losses, claims, damages, liabilities or expenses (collectively, together with actions, proceedings or inquiries by any regulatory or self-regulatory organization, whether commenced or threatened, in respect thereof, "Claims") to which any of them may become subject insofar as such Claims arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in any Registration Statement, or any amendment or supplement thereto, or any filing made under state securities laws as required hereby, or the omission or alleged omission to state therein a material fact required to be stated or necessary to make the statements therein not misleading; (ii) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, or any amendment or supplement thereto, or the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in the light of the circumstances under which the statements therein were made, not misleading; or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any other law, including any state securities law, or any rule or regulation thereunder relating to the offer or sale of the Registrable Securities (the matters in the foregoing clauses (i) through (iii) being, collectively, "Violations"). The Company shall reimburse the Indemnified Person, promptly as such expenses are incurred and are due and payable, for any reasonable and documented legal fees and other reasonable and documented expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section 7(a) shall not apply to a Claim by any Indemnified Person arising out of or based upon a Violation to the extent that such Violation occurs in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of any Indemnified Person expressly for use in connection with the preparation of such Registration Statement or related Prospectus or any such amendment thereof or supplement thereto, or to any amounts paid in settlement of any Claim effected without the prior written consent of the Company, which consent shall not be unreasonably withheld, conditioned or delayed. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Indemnified Person and shall survive the transfer of the Registrable Securities by any of the Holders pursuant to Section 10.

Exhibit F-11

b. Promptly after receipt by an Indemnified Person under this Section 7 of notice of the commencement of any action (including any governmental action), such Indemnified Person shall, if a Claim in respect thereof is to be made against the Company under this Section 7, deliver to the Company a written notice of the commencement thereof, and the Company shall have the right to participate in, and, to the extent the Company so desires, to assume control of the defense thereof with counsel mutually satisfactory to the Company and the Indemnified Person, as the case may be;

***provided, however***, that an Indemnified Person shall have the right to retain its own counsel with the reasonable and documented fees and expenses to be paid by the Company, if, in the opinion of counsel for such Indemnified Person, the representation by such counsel of the Indemnified Person and the Company would be inappropriate due to actual or potential differing interests between such Indemnified Person and any other party represented by such counsel in such proceeding. The Company shall pay for only one separate legal counsel (plus one local counsel in each applicable jurisdiction, if necessary) for the Indemnified Persons, and such legal counsel shall be selected by the Holders. The failure to deliver written notice to the Company within a reasonable time of the commencement of any such action shall not relieve the Company of any liability to the Indemnified Person under this Section 7, except to the extent that the Company is actually prejudiced by such failure in its ability to defend such action, and shall not relieve the Company of any liability to the Indemnified Person otherwise than pursuant to this Section 7. The Company shall not, without the prior written consent of the Indemnified Persons, consent to entry of any judgment or enter into any settlement or other compromise with respect to any Claim in respect of which indemnification or contribution may be or has been sought hereunder (whether or not any such Indemnified Person is an actual or potential party to such action or claim) which does not include as an unconditional term thereof the giving by the claimant or plaintiff to the Indemnified Persons of a full release from all liability with respect to such Claim or which includes any admission as to fault, culpability or failure to act on the part of any Indemnified Person. The indemnification required by this Section 7 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as any expense, loss, damage or liability is incurred.

c. Each Holder will indemnify, hold harmless and defend (i) the Company, and (ii) the directors, officers, partners, managers, members, employees and agents of the Company, if any (each, a "Company Indemnified Person"), against any Claims to which any of them may become subject insofar as such Claims arise out of or are based upon any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any other law, including any state securities law, or any rule or regulation thereunder relating to the offer or sale of the Registrable Securities, which occurs due to the inclusion by the Company in a Registration Statement or Prospectus, or any amendment or supplement thereto, of false or misleading information about such Holder, where such information was furnished in writing to the Company by or on behalf of such Holder expressly for the purpose of inclusion in such Registration Statement or Prospectus. Notwithstanding anything herein to the contrary, the indemnity agreement contained in this Section 7(c) shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the Holders, which consent shall not be unreasonably withheld, conditioned or delayed; and provided, further, however, that a Holder shall be liable under this Section 7(c) for only that amount of a Claim as does not exceed the net amount of proceeds received by such Holder as a result of the sale of Registrable Securities pursuant to such Registration Statement.

Exhibit F-12

d. Promptly after receipt by a Company Indemnified Person under this Section 7 of notice of the commencement of any action (including any governmental action), such Company Indemnified Person shall, if a Claim in respect thereof is to be made against any Holder under this Section 7, deliver to such Holder a written notice of the commencement thereof, and such Holder shall have the right to participate in, and, to the extent such Holder so desires, to assume control of the defense thereof with counsel mutually satisfactory to such Holder and such Company Indemnified Person. No Holder shall, without the prior written consent of the Company, consent to entry of any judgment or enter into any settlement or other compromise with respect to any Claim in respect of which indemnification or contribution may be or has been sought by any Company Indemnified Person hereunder (whether or not any such Company Indemnified Person is an actual or potential party to such action or claim) which does not include as an unconditional term thereof the giving by the claimant or plaintiff to the Company Indemnified Persons of a full release from all liability with respect to such Claim or which includes any admission as to fault, culpability or failure to act on the part of any Company Indemnified Person.

8. CONTRIBUTION. If for any reason the indemnification provided for in Section 7(a) or 7(c) (as applicable) is unavailable to an Indemnified Person or Company Indemnified Person (as applicable) or insufficient to hold it harmless, other than as expressly specified therein, then the indemnifying party shall contribute to the amount paid or payable by the Indemnified Person or Company Indemnified Person (as applicable) as a result of the Claim in such proportion as is appropriate to reflect the relative fault of the Indemnified Person or Company Indemnified Person (as applicable) and the indemnifying party (provided that the relative fault of any Company Indemnified Person shall be deemed to include the fault of all other Company Indemnified Persons), as well as any other relevant equitable considerations. No Person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the Securities Act shall be entitled to contribution from any Person not guilty of such fraudulent misrepresentation. In no event shall the contribution obligation of a Holder be greater in amount than the net amount of proceeds received by such Holder as a result of the sale of Registrable Securities giving rise to such contribution obligation pursuant to the applicable Registration Statement (net of the aggregate amount of any damages or other amounts such Holder has otherwise been required to pay (pursuant to Section 7(c) or otherwise) by reason of such Holder's untrue or alleged untrue statement or omission or alleged omission).

9. REPORTS UNDER THE 1934 ACT. With a view to making available to the Holders the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or regulation of the SEC that may at any time permit the Holders to sell securities of the Company to the public without registration, the Company agrees to, during the period when there are Registrable Securities outstanding (or deemed hereunder to be outstanding):

a. make and keep public information available, as those terms are understood and defined in Rule 144;

Exhibit F-13

b. file with the SEC in a timely manner (without giving effect to any extensions pursuant to Rule 12b-25 under the Exchange Act) all reports and other documents required of the Company under the Exchange Act so long as the Company remains subject to such requirements and the filing of such reports and other documents is required for the applicable provisions of Rule 144; and

c. remain continuously subject to the reporting requirements under the Exchange Act for a period of at least one year following the date of this Agreement;

d. so long as any of the Holders owns Registrable Securities, promptly upon request, furnish to such Holder (i) a written statement by the Company that it has complied with the reporting requirements of the Exchange Act as required for applicable provisions of Rule 144 and (ii) such other information as may be reasonably requested to permit such Holder to sell such Registrable Securities pursuant to Rule 144 without registration.

10. LEGEND REMOVAL.

a. The Registrable Securities held by any Holder (and any certificates or electronic book entries evidencing the Registrable Securities) shall not contain or be subject to (and such Holder shall be entitled to removal of) any legend (or stop transfer or similar instruction) restricting the transfer thereof (including any legend pertaining to restrictions on transfer under Applicable Securities Laws) if : (i) (A) a Registration Statement covering the sale or resale of such securities is effective under the Securities Act, or (B) such Holder provides customary paperwork to the effect that it has sold, or is selling substantially contemporaneously with the delivery of such paperwork, such securities pursuant to such a Registration Statement or Rule 144 under the Securities Act, or (C) such securities are eligible for sale under Rule 144(b)(1) under the Securities Act as set forth in customary, non-affiliate certifications provided by such Holder, or (D) at any time on or after the date hereof such Holder certifies that it is an "affiliate" (within the meaning of such term under Rule 144 under the Securities Act) of the Company (a "Rule 144 Affiliate"), and has not been a Rule 144 Affiliate for the preceding three (3) months, and that such Holder's holding period for purposes of Rule 144 (including, for the avoidance of doubt, subsection (d)(3)(ii) thereof) is at least six (6) months, and if such holding period is less than one (1) year, the current public information requirement of Rule 144(b)(1) is then met, or (E) legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) as determined in good faith by counsel to the Company and (ii) in each case, such Registrable Securities are not subject to the Lock-Up, to the extent applicable (collectively, the "Unrestricted Conditions"). The Company shall cause its counsel to issue a legal opinion to the transfer agent for the Common Stock (the "Transfer Agent") (with a copy to each Holder), promptly (and in any event within three (3) Business Days) after such time as any of the Unrestricted Conditions has been satisfied with respect to any Registrable Securities (which in the case of Registrable Securities that are not subject to the Lock-Up, shall be the Registration Effective Date), if the Transfer Agent requires such an opinion to effect the issuance of such Registrable Securities, as applicable, without a restrictive legend or removal of the legend hereunder.

b. The Company agrees that at such time as any of the Unrestricted Conditions is met or such legend is otherwise no longer required under this Section 10 in respect of any Registrable Securities, which in the case of Registrable Securities that are not subject to the Lock-Up shall include any time following the Registration Effective Date,, it will, no later than the earlier of (x) (1) Trading Day and (y) the number of Trading Days comprising the Standard Settlement Period following the delivery by a Holder to the Company or the Transfer Agent of the Registrable Securities issued with a restrictive legend, deliver or cause to be delivered to such Holder or its designee the Registrable Securities free from all restrictive and other legends (or similar notations) by crediting the account of such Holder's prime broker with DTC, through its DWAC system.

Exhibit F-14

11. LOCK-UP.

a. Each Holder agrees that during the period commencing on the date hereof and ending at 11:59 p.m. (New York City time) on the one hundred twentieth (120<sup>th</sup>) day following the date hereof (the "Lock-Up Period"), without the prior written approval of the Company, such Holder shall not lend, offer, pledge, sell, contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly ("Transfer"), any Restricted Shares; provided, that:

(i) on the date that is sixty (60) days following the Closing (the "First Lock-Up Release Date"), the Merger Warrant Shares issuable upon exercise of the Tranche 1 Closing Share Warrants shall be released from the Lock-Up, shall cease to be "Restricted Shares" and shall become freely tradeable (subject only to restrictions on transfer under Federal securities laws described in Section 10), and

(ii) on the date that is one hundred and twenty (120) days following the Closing (the "Second Lock-Up Release Date" and, together with the First Lock-Up Release Date, the "Lock-Up Release Dates"), Merger Warrant Shares issuable upon exercise of the Tranche 2 Closing Share Warrants shall be released from the Lock-Up and shall become freely tradeable (subject only to restrictions on transfer under Federal securities laws described in Section 10), and the Lock-Up shall terminate and be of no further force or effect (and none of the Registrable Securities shall be deemed Restricted Shares).

b. Notwithstanding the foregoing, a Holder shall at all times be permitted to Transfer the Restricted Shares (or any portion thereof): (i) to its affiliates, (ii) to any investment fund or other entity controlling, controlled by, managing or managed by or under common control with such Significant Company Shareholder or its Affiliates, (iii) to any direct or indirect equityholders or limited partners of a Significant Company Shareholder, (iv) to any family member or any Affiliate of any family member of a Holder, (v) to a charitable organization through a charitable distribution, and (vi) pursuant to a bona fide take-over bid, tender offer or similar transaction made to all holders of Common Stock, including without limitation, a merger, arrangement or amalgamation, involving a change of control of the Company and provided that in the event the take-over, tender offer or acquisition transaction is not completed, such Restricted Shares shall remain subject to the Lock-Up (unless released from the Lock-Up to the extent provided in Section 11(a)); provided that in the case of each of (i) through (v), such Transfer is without consideration and the applicable transferee remains subject to the Lock-Up.

Exhibit F-15

c. The Restricted Shares shall be subject to a restrictive legend (the "Lock-Up Legend") in substantially the following form; provided that such legend shall be removed as and when provided in Section 10; and provided, further, that upon any exercise of a Closing Share Warrant a time when any Unrestricted Condition is satisfied with respect thereto, the shares of Common Stock issuable upon such exercise shall be issued free of any restrictive legend:

THE OFFER AND SALE OF THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAW. THE SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, EXCEPT PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, INCLUDING PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OR PURSUANT TO A PRIVATE SALE EFFECTED UNDER SECTION 4(a)(7) OF THE SECURITIES ACT OR APPLICABLE FORMAL OR INFORMAL SEC INTERPRETATION OR GUIDANCE, SUCH AS A SO-CALLED "4[a](1) AND A HALF SALE." NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

THIS SECURITY AND THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING A LOCK-UP PERIOD, AS SET FORTH IN A REGISTRATION RIGHTS AGREEMENT AMONG THE COMPANY AND THE ORIGINAL HOLDERS OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE COMPANY.

12. ASSIGNMENT OF REGISTRATION RIGHTS. The rights under this Agreement shall be automatically assignable by each Holder to any transferee of all or any portion of the Registrable Securities or all or any portion of such Holder's rights under the CPA if: (i) such Holder agrees in writing with the transferee or assignee to assign such rights, and a copy of such agreement is furnished to the Company within a reasonable time after such assignment, (ii) the Company is, within a reasonable time after such transfer or assignment, furnished with written notice of (a) the name and address of such transferee or assignee, and (b) the securities with respect to which such registration rights are being transferred or assigned, and (iii) at or before the time the Company receives the written notice contemplated in clause (ii) of this sentence, the transferee or assignee agrees in writing with the Company to be bound by all of the provisions contained herein as applicable to a Holder. In the event that the Company receives written notice from a Holder that it has transferred all or any portion of its Registrable Securities pursuant to this Section 12, the Company, within ten (10) days, shall file any amendments or supplements necessary to keep a Registration Statement current, effective and available for the resale of all of the Registrable Securities pursuant to Rule 415. The Company shall not assign this Agreement or any rights or obligations hereunder, except after obtaining the prior written consent of the Required Holders.

Exhibit F-16

13. MATERIAL NON-PUBLIC INFORMATION.

a. From and after the date hereof, the Company shall not, and shall cause each of its Affiliates, representatives and agents to not, provide any Holder or any Holder's Affiliates, representatives or agents, with any material nonpublic information regarding the Company, any of its Affiliates or any other Person ("MNPI") without the express prior written consent of such Holder. The Company hereby acknowledges and agrees that neither any Holder nor any of their respective Affiliates shall have any duty of trust or confidence with respect to, or duty not to trade on the basis of, any MNPI (i) provided by, or on behalf of, the Company, any of its Affiliates or any of their respective officers, directors, employees, attorneys, agents or representatives or (ii) otherwise possessed (or continued to be possessed) by any Holder (or any Affiliate, agent or representative thereof) as a result of any breach or violation of any of the covenants set forth in this Agreement or the Merger Agreement requiring the Company to publicly disclose information in a press release, filing with the SEC or otherwise (collectively, the "Disclosure Covenants").

b. Notwithstanding anything to the contrary herein, in the event that the Company believes that a notice or communication to any Holder or any Holder's Affiliates, attorneys, agents or representatives contains MNPI, the Company shall, prior to the delivery of such notice or communication, (i) so indicate to such Holder, and such indication shall provide such Holder the means to refuse to receive such notice or communication, and in the absence of any such indication, such Holder, the other holders of the Registrable Securities and their respective Affiliates, agents and representatives shall be allowed to presume that all matters relating to such notice or communication do not constitute MNPI and (ii) provide such notice or communication to counsel to such Holder (which shall be Katten Muchin Rosenman LLP (Attn: Mark D. Wood) or such other counsel as shall have been designated in writing by such Holder). In the event that the Company either (A) fails to indicate that a notice or communication to a Holder contains MNPI or otherwise provides any Holder with MNPI without such Holder's prior written consent or (B) provides such notice or communication to any Holder notwithstanding any such Holder's refusal in writing to receive such notice or communication, such Holder shall have the right to make a public disclosure in the form of a press release, public advertisement or otherwise of the applicable MNPI without the prior approval by the Company or any of its Affiliates, or any of its or their respective officers, directors (or equivalent persons), employees, attorneys, representatives or agents, and no Holder (nor any of its Affiliates, agents or representatives) shall have any liability to the Company or any of its Affiliates or any of its or their respective officers, directors (or equivalent persons), employees, stockholders, attorneys, representatives or agents for any such disclosure.

c. Notwithstanding the foregoing, to the extent the Company reasonably and in good faith determines that it is necessary to disclose MNPI to any Holder for purposes relating to this Agreement or the Merger Agreement(a "Necessary Disclosure"), the Company shall inform counsel to such Holder (which shall be Katten Muchin Rosenman LLP (Attn: Mark D. Wood) or such other counsel as shall have been designated in writing by such Holder) of such determination without disclosing the applicable MNPI, and the Company and such counsel on behalf of such Holder shall endeavor to agree upon a process for making such Necessary Disclosure to the applicable Holder or its representatives that is mutually acceptable to such Holder and the Company (an "Agreed Disclosure Process"). Thereafter, the Company shall be permitted to make such Necessary Disclosure (only) in accordance with the Agreed Disclosure Process. The Company acknowledges and agrees that the Holders and their Affiliates will rely upon the foregoing representations, warranties and agreements and the other disclosure obligations of the Company hereunder in effecting transactions in Common Stock and other securities of the Company and other Persons.

Exhibit F-17

14. MISCELLANEOUS.

a. A Person is deemed to hold, and be a holder of, shares of Common Stock or other Registrable Securities whenever such Person owns of record or beneficially through a "street name" holder such shares of Common Stock or other Registrable Securities (or the Closing Share Warrants or Parent Share Warrants upon exercise of which such Registrable Securities are directly or indirectly issuable, without giving effect to any limitation on exercise thereof) or may become entitled to under the CPA, and solely for purposes hereof, Registrable Securities shall be deemed outstanding to the extent they are or may become directly or indirectly issuable under the CPA or upon exercise of any Closing Share Warrants or Parent Share Warrants (in each case, without giving effect to any limitation on exercise thereof), assuming the maximum amount of Milestone Payments become payable thereunder and the Company elects to satisfy all of its obligations to make such payments through the issuance and delivery of Contingent Payment Shares or Parent Warrant Shares. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the registered owner of such Registrable Securities (or Closing Share Warrants or Parent Share Warrants).

b. Any notices required or permitted to be given under the terms hereof shall be delivered personally or by courier (including a recognized overnight delivery service) or by electronic mail and shall be effective upon receipt, in each case addressed to a party. The addresses for such communications shall be:

If to the Company:

CorMedix Inc.<br> 300 Connell Drive, Suite 4200<br> Berkeley Heights, NJ 07922<br> Attention: Joseph Todisco and Beth Zelnick Kaufman<br> Email: [\*\*\*]

with a copy (which shall not constitute notice) to:

Willkie Farr & Gallagher LLP<br> 787 7<sup>th</sup> Avenue<br> New York, New York 10019<br> Attention: Jared Fertman and Andrew Marmer<br> Email: [\*\*\*]

If to a Holder, to the address set forth in such Holder's signature page to this Agreement.

The Company shall provide notice to each Holder, and each Holder shall provide notice to the Company, of any change in such party's address.

c. Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof.

Exhibit F-18

d. Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with, and all disputes arising out of or in connection with this Agreement shall be resolved under, the internal laws of the State of Delaware, without regard to the principles of conflicts of law thereof that would result in the application of the substantive laws of any other jurisdiction. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in the Delaware Court of Chancery or, solely if the Delaware Court of Chancery does not have subject matter jurisdiction thereof, any other court of the State of Delaware or any federal court sitting in the State of Delaware. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the state of Delaware for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. The parties hereby waive all rights to a trial by jury. If any party commences an action or proceeding to enforce any provision of this Agreement, then the prevailing party in such action or proceeding shall be reimbursed by the adverse parties to such action for its reasonable attorneys' fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

e. This Agreement, the Merger Agreement, the CPA, the Closing Share Warrants, the Parent Share Warrants and the instruments referenced herein and therein (collectively, the "Transaction Documents"), constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof. This Agreement and the other Transaction Documents (including all schedules and exhibits hereto and thereto) supersede all prior agreements and understandings among the parties hereto with respect to the subject matter hereof and thereof.

f. Subject to the requirements of Section 11 hereof, this Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the parties hereto, and the provisions of Sections 7 and 8 hereof shall inure to the benefit of, and be enforceable by, each Indemnified Person and Company Indemnified Person (as applicable).

g. Provisions of this Agreement may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only with written consent of the Company and the Required Holders. Any amendment or waiver effected in accordance with this Section 11 shall be binding upon each of the Holders and the Company.

h. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

Exhibit F-19

i. This Agreement and any amendments hereto may be executed and delivered in two or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement, and shall become effective when counterparts have been signed by each party hereto and delivered to the other parties hereto, it being understood that all parties need not sign the same counterpart. In the event that any signature to this Agreement or any amendment hereto is delivered by facsimile transmission, by e-mail delivery of a ".pdf" format data file or by other electronic means, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile, ".pdf" or other electronic signature page were an original thereof. No party hereto shall raise the use of a facsimile machine, e-mail delivery of a ".pdf" format data file or other electronic means to deliver a signature to this Agreement or any amendment hereto or the fact that such signature was transmitted or communicated through the use of a facsimile machine, e-mail delivery of a ".pdf" format data file or other electronic means as a defense to the formation or enforceability of a contract, and each party hereto forever waives any such defense.

j. Each of the parties hereto acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the non-breaching part(y)(ies) hereto by vitiating the intent and purpose of the transactions contemplated hereby. Accordingly, the parties acknowledge that the remedy at law for breach of its obligations hereunder will be inadequate and agrees, in the event of a breach or threatened breach by any party hereto of any of the provisions hereunder, that the non-breaching party shall be entitled, in addition to all other available remedies in law or in equity, to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing economic loss and without any bond or other security being required.

k. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction will be applied against any party.

l. In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision hereof.

m. In the event a Holder shall sell or otherwise transfer any of such holder's Registrable Securities, each transferee shall be allocated a pro rata portion of the number of Registrable Securities included in a Registration Statement for such transferor.

n. There shall be no oral modifications or amendments to this Agreement. This Agreement may be modified or amended only in writing signed by the Company and the Required Holders, and any amendment or modification so adopted shall be binding upon all of the Holders.

Exhibit F-20

o. The obligations of each Holder hereunder are several and not joint with the obligations of any other Holder, and no provision of this Agreement (or any other Transaction Document) is intended to confer any obligations on any Holder vis-à-vis any other Holder. Nothing contained herein (or in any Transaction Document), and no action taken by any Holder pursuant hereto (or thereto), shall be deemed to constitute the Holders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated herein (or therein).

p. Unless the context otherwise requires, (i) all references to Sections, Schedules or Exhibits are to Sections, Schedules or Exhibits contained in or attached to this Agreement, (ii) words in the singular or plural include the singular and plural, and pronouns stated in either the masculine, the feminine or neuter gender shall include the masculine, feminine and neuter, (iii) the use of the word "include," "includes" and "including" in this Agreement shall be by way of example rather than limitation, and (iv) the word "or" is not exclusive (i.e., "or" shall mean "and/or").

q. The provisions of this Agreement that refer to a number of shares of Common Stock or a number of Registrable Securities shall be appropriately adjusted for any stock split or other subdivision of outstanding Common Stock, combination of outstanding Common Stock (including by reverse stock split), payment of a stock dividend in shares of Common Stock, , or other similar transaction of such character that outstanding shares of Common Stock shall be changed into or become exchangeable for a larger or smaller number of shares of Common Stock.

**[Remainder of page left intentionally blank]**

**[Signature page follows]**

Exhibit F-21

IN WITNESS WHEREOF, the undersigned Holders and the Company have caused this Registration Rights Agreement to be duly executed as of the date first written above.

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| |
|:---|
| **COMPANY:** |
| **CORMEDIX INC.** |
| By: |
| Name: |
| Title: |

---

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

Exhibit F-22

IN WITNESS WHEREOF, the undersigned Holders and the Company have caused this Registration Rights Agreement to be duly executed as of the date first written above.

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| | |
|:---|:---|
| **HOLDERS:** | **HOLDERS:** |
| **DEERFIELD PRIVATE DESIGN FUND III, L.P.** | **DEERFIELD PRIVATE DESIGN FUND III, L.P.** |
| By: | Deerfield Mgmt III, L.P., Its General Partner |
| By: | J.E. Flynn Capital III, LLC, Its General Partner |
| By: |  |
| Name: | David J. Clark |
| Title: | Authorized Signatory |

---

---

| | |
|:---|:---|
| **DEERFIELD PRIVATE DESIGN FUND IV, L.P.** | **DEERFIELD PRIVATE DESIGN FUND IV, L.P.** |
| By: | Deerfield Mgmt IV, L.P., Its General Partner |
| By: | J.E. Flynn Capital IV, LLC, Its General Partner |
| By: |  |
| Name: | David J. Clark |
| Title: | Authorized Signatory |

---

c/o Deerfield Management Company, L.P.

345 Park Avenue South, 12 Floor

New York, NY 10010

Attn: David J. Clark

E-mail: [\*\*\*]

with a copy (which shall not constitute notice) to:

Katten Muchin Rosenman LLP

525 West Monroe Street

Chicago, IL 60661

Attn: Mark D. Wood and Jonathan D. Weiner

Email: mark.wood@katten.com and jonathan.weiner@katten.com

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

Exhibit F-23

**EXHIBIT G**

**Form of Escrow Agreement**

[Omitted]

Exhibit G-1

**EXHIBIT H**

**Form of Letter of Transmittal**

[Omitted]

Exhibit H-1

**EXHIBIT I**

**Form of Optionholder Notice**

[Omitted]

Exhibit I-1

**EXHIBIT J**

**Form of Spreadsheet**

[Omitted]

Exhibit J-1

**EXHIBIT K**

**Form of Feptanbli Assignment Agreement**

[Omitted]

Exhibit K-1

**EXHIBIT L**

**Form of TOPROL Acquisition Agreement**

[Omitted]

Exhibit L-1

**EXHIBIT M**

**Form of Closing Share Warrants**

[See attached]

**Exhibit M**

**[THE OFFER AND SALE OF THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAW. THE SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, EXCEPT PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, INCLUDING PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OR PURSUANT TO A PRIVATE SALE EFFECTED UNDER SECTION 4(a)(7) OF THE SECURITIES ACT OR APPLICABLE FORMAL OR INFORMAL SEC INTERPRETATION OR GUIDANCE, SUCH AS A SO-CALLED "4[a](1) AND A HALF SALE." NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.]<sup>1</sup>**

**PRE-FUNDED WARRANT<br> TO PURCHASE<br> SHARES OF COMMON STOCK<br> OF** 

**CORMEDIX, INC.**

Original Issue Date: [___] No. [__]

FOR VALUE RECEIVED, the undersigned, CorMedix, Inc., a Delaware corporation (together with its successors and assigns, the "<u>Company</u>"), hereby certifies that [___________] or any transferee, assignee or other subsequent holder hereof (the "<u>Holder</u>") is entitled to subscribe for and purchase, at the Exercise Price per share, the Warrant Share Number of duly authorized, validly issued, fully paid and non-assessable shares of the Company's common stock, par value $0.001 per share (the "<u>Common Stock</u>"). This Warrant is issued pursuant to that certain [Agreement and Plan of Merger, by and among the Company, Coriander BidCo, LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company, Melinta Therapeutics, LLC and Deerfield Private Design Fund IV, L.P., solely in its capacity as the Members' Representative, dated as of [●], 2025 (together with all exhibits and schedules thereto and as may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof, the "<u>Merger Agreement</u>")] / [Contingent Payment Agreement, dated as of [●], 2025 (together with all exhibits and schedules thereto and as may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof, the "<u>Contingent Payment Agreement</u>"), by and among Deerfield Private Design Fund IV, L.P., Deerfield Private Design Fund III, L.P., the Company, Melinta Therapeutics, LLC and Deerfield Private Design Fund IV, L.P., solely in its capacity as representative]. The Common Shares (as defined below) issuable hereunder (the "<u>Warrant Shares</u>") are entitled to the benefits of the Registration Rights Agreement (as defined below). Capitalized terms used in this Warrant and not otherwise defined herein shall have the respective meanings specified in Section 8 hereof or, if not specified in Section 8 hereof, the respective meanings ascribed thereto in the [Merger Agreement]/[Contingent Payment Agreement].

<sup>1</sup> **NTD**: Legend to be included in the form of Closing Share Warrant. The form of Parent Share Warrant to be included in the Contingent Payment Agreement will not bear a restrictive legend.

Exhibit M-1

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Term</u>. The right to subscribe for and purchase Warrant Shares represented hereby commences on the Original Issue Date and shall expire at such time as this Warrant shall have been exercised in full (such period being the "<u>Term</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Exercise Price; Method of Exercise; Payment; Issuance of New Warrant; Transfer and Exchange.</u>

(a) ***Exercise Price***. The aggregate exercise price of this Warrant, except for a nominal exercise price of $0.001 per Warrant Share, was pre-funded to the Company on or prior to the Original Issue Date by virtue of its issuance pursuant to the [Merger Agreement] / [Contingent Payment Agreement] and, consequently, no additional consideration (other than the nominal exercise price of $0.001 per Warrant Share) shall be required to be paid by the Holder to any Person to effect any exercise of this Warrant. The Holder shall not be entitled to the return or refund of all, or any portion, of such pre-paid aggregate exercise price under any circumstance or for any reason whatsoever. The remaining unpaid exercise price per share of Common Stock under this Warrant shall be $0.001, subject to adjustment hereunder (the "<u>Exercise Price</u>").

(b) ***Exercise of Warrant***. The purchase rights represented by this Warrant may be exercised in whole or in part at any time and from time to time during the Term by delivering to the Company (by electronic mail or otherwise in accordance with <u>Section 11</u>) written notice of such exercise in the form attached hereto as <u>Exhibit A</u> (each, an "<u>Exercise Form</u>") and the applicable Exercise Price, which may be satisfied by a Cash Exercise or a Cashless Exercise (as each is defined below), for each Warrant Share as to which this Warrant is being exercised. The "<u>Exercise Date</u>" in respect of each exercise of this Warrant shall be defined as the date that the Exercise Form in respect of such exercise is delivered to the Company in accordance with the terms hereof.

(c) ***Cash Exercise***. The Holder may pay the Exercise Price in respect of any Warrant Share(s) in cash (a "<u>Cash Exercise</u>"). In the case of a Cash Exercise, within one (1) Trading Day (or, if less, the number of Trading Days comprising the Standard Settlement Period on the Exercise Date) following the Exercise Date as aforesaid, the Holder shall deliver the aggregate Exercise Price for the Warrant Shares specified in the applicable Exercise Form by wire transfer or cashier's check drawn on a United States bank.

(d) ***Net Issue Exercise***. In lieu of paying the Exercise Price in respect of any Warrant Share(s) in cash, the Holder, at its option, may exercise this Warrant (in whole or in part) on a cashless basis by making appropriate notation on the applicable Exercise Form (provided, that in the absence of any indication as to whether an Exercise Form relates to a cash exercise or a Cashless Exercise, the exercise pursuant to such Exercise Form shall be deemed to be Cashless Exercise), in which event the Company shall issue to the Holder a number of Warrant Shares computed using the following formula (a "<u>Cashless Exercise</u>"):

![](ex2-1_001.jpg)

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| | | |
|:---|:---|:---|
| Where: | X | = the number of the Warrant Shares to be issued to the Holder. |
|  | Y | = the number of Warrant Shares with respect to which the Warrant is exercised. |
|  | A | = the fair market value of one share of Common Stock on the Exercise Date. |
|  | B | = the Exercise Price (as adjusted to the date of such calculation). |

---

Exhibit M-2

For purposes of this <u>Section 2(c)</u>, the "fair market value" of one share of Common Stock on the date of determination shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Market Price can be calculated in accordance with the definitions of "Market Price" and "Volume Weighted Average Price," the Market Price per share of Common Stock as of the Exercise Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the Market Price cannot be calculated in accordance with the definitions of "Market Price" and "Volume Weighted Average Price," the fair market value of a share of Common Stock shall be such fair market value as determined in good faith by the Company in reliance on an opinion of a nationally recognized independent investment banking firm retained by the Company for this purpose; <u>provided</u> that the Holder shall have a right to receive from the Company the calculations performed to arrive at such fair market value and a copy of the opinion of such investment banking firm and any report prepared by such investment banking firm and delivered to the Company in connection therewith.

The date of determination for purposes of this <u>Section 2(c)</u> shall be the date the Exercise Form is delivered by the Holder to the Company.

(e) ***Issuance of Warrant Shares and New Warrant***. In the event of any exercise of the purchase rights represented by this Warrant in accordance with the terms hereof, the Warrant Shares issuable upon such exercise shall be delivered by the Company, (i) in the case of an exercise at a time when any of the Unrestricted Conditions is met as of the Exercise Date in respect of such Warrant Shares, by causing the Company's designated transfer agent ("<u>Transfer Agent</u>") to electronically transmit the Warrant Shares issuable upon such exercise to the Holder by crediting the account of the Holder's prime broker with The Depository Trust Company ("<u>DTC</u>"), through its Deposit/Withdrawal at Custodian ("<u>DWAC</u>") system, as specified in the relevant Exercise Form, no later than the later of (x) one (1) Trading Day (or, if less, the number of Trading Days comprising the Standard Settlement Period) after the relevant Exercise Date and, (y) in the case of a Cash Exercise, one (1) Trading Day after the date the applicable aggregate Exercise Price is received by the Company, provided that a delay in delivering the Warrant Shares in accordance with this clause (i) to the extent it is caused solely by a failure by the Holder or its designee to accept such DWAC transmission shall not be deemed a breach of this <u>Section 2(d)</u>, or (ii) in the case of an exercise at a time when the Warrant Shares issuable upon such exercise are required to bear a restrictive legend pursuant to <u>Section 2(f)(ii)</u> because none of the Unrestricted Conditions is met in respect thereof, issue and dispatch by overnight courier to the address as specified in the Exercise Form, a certificate, registered in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise, within five (5) Trading Days after the relevant Exercise Date. Upon the exercise of this Warrant or any part hereof, the Company shall, at its own cost and expense, take all necessary action, including obtaining and delivering an opinion of counsel, if applicable, as shall be necessary to enable the Transfer Agent to transmit to the Holder in accordance with this <u>Section 2(d)</u> the number of Warrant Shares issuable upon such exercise. The Company warrants that no instructions other than these instructions have been or will be given to the Transfer Agent in respect of the Warrant Shares and that the Warrant Shares will not contain any legend or be subject to any stop transfer or similar instruction if any of the Unrestricted Conditions is met in respect thereof. Upon the delivery of an Exercise Form in accordance with <u>Section 2(a)</u>, the Holder shall be deemed for all purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date such Warrant Shares are credited to the Holder's or its designee's DTC account or the date of delivery of the certificates evidencing such Warrant Shares, as the case may be. The Holder shall not be required to physically surrender this Warrant to the Company, except as provided in <u>Section 2(e)</u> in connection with a transfer of this Warrant. Execution and delivery of an Exercise Form with respect to a partial exercise shall have the same effect as cancellation of the original Warrant and issuance of a new Warrant evidencing the right to purchase the remaining number of Warrant Shares. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the remaining number of Warrant Shares. ***The Holder and any assignee of the Holder, by acceptance of this Warrant, acknowledges and agrees that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the Warrant Share Number (and, therefore, the number of Warrant Shares available for purchase hereunder) at any given time may be less than the amount stated herein***.

Exhibit M-3

(f) ***Transferability of Warrant***. Subject to <u>Section 2(f)(iii)</u>, [following the Lock-Up Release Date]<sup>2</sup>, this Warrant and all rights hereunder are transferable, in whole or in part, by the Holder without charge to the Holder, upon surrender of this Warrant to the Company at its then principal executive offices with a properly completed and duly executed Assignment Form in the form attached hereto as <u>Exhibit B</u>. Within three (3) Trading Days of such surrender and delivery (the "<u>Transfer Delivery Period</u>"), the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant, if any, not so assigned and this Warrant shall promptly thereafter be cancelled. Notwithstanding anything herein to the contrary, this Warrant, if properly assigned in accordance herewith, may be exercised by a new Holder for the purchase of Warrant Shares immediately upon such assignment without having a new Warrant issued. The Holder shall pay any Transfer Taxes (as such term is defined in <u>Section 5(b)</u> below) imposed in connection with such transfer or assignment (if any).

(g) ***Restrictive Legend***.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Holder understands that[, in addition to any legend required or permitted under the Registration Rights Agreement prior to the Lock-Up Release Date,] until such time as [this Warrant and]<sup>3</sup> the Warrant Shares have been registered under the Securities Act or otherwise may be sold pursuant to Rule 144 or an exemption from registration under the Securities Act without any restriction as to the number of securities as of a particular date that can then be immediately sold, [this Warrant and] the Warrant Shares may bear a restrictive legend in substantially the following form (and a stop-transfer order consistent therewith may be placed against transfer of the certificates for such securities) (the "<u>Securities Law Legend</u>"):

**"THE OFFER AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, EXCEPT PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, INCLUDING PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OR PURSUANT TO A PRIVATE SALE EFFECTED UNDER SECTION 4(a)(7) OF THE SECURITIES ACT OR APPLICABLE FORMAL OR INFORMAL SEC INTERPRETATION OR GUIDANCE, SUCH AS A SO-CALLED "4[(a)](1) AND A HALF SALE." NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.**

<sup>2</sup> **NTD**: To be included in Closing Share Warrants subject to the Lock-Up (as defined in the Registration Rights Agreement).

<sup>3</sup> **NTD**: References to "this Warrant" to be included in the Closing Share Warrant. References to "this Warrant" will not be included in the Parent Share Warrant.

Exhibit M-4

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) This Warrant and Warrant Shares (and any certificates or electronic book entries evidencing the Warrant Shares) shall not contain or be subject to (and Holder shall be entitled to removal of) any legend (or stop transfer or similar instruction) restricting the transfer thereof (including the Securities Law Legend): if [(i)] (A) a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such securities is effective under the Securities Act, or (B) the Holder provides customary certifications to the effect that it has sold, or is selling substantially contemporaneously with the delivery of such certifications, such securities pursuant to such a registration statement or Rule 144 under the Securities Act, or (C) such securities are eligible for sale under Rule 144(b)(1) under the Securities Act as set forth in customary, non-affiliate certifications provided by the Holder, or (D) at any time on or after the date hereof that the Holder certifies that it is not a Rule 144 Affiliate and that the Holder's holding period for purposes of Rule 144 (including, for the avoidance of doubt, subsection (d)(3)(ii) thereof) of at least six (6) months, and if such holding period is less than one (1) year, the current public information requirement of Rule 144(b)(1) is then met, or (E) such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) as determined in good faith by counsel to the Company or as set forth in a legal opinion delivered by Katten Muchin Rosenman LLP or other nationally recognized counsel to the Holder; [and (ii) in each case, the Lock-Up Release Date shall have occurred]<sup>4</sup> (collectively, the "<u>Unrestricted Conditions</u>"). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent, promptly after any of the Unrestricted Conditions has been satisfied, if required by the Transfer Agent to effect the issuance of this Warrant or the Warrant Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If any of the Unrestricted Conditions is met at the time of issuance of the Warrant Shares then such Warrant Shares shall be issued free of all legends and stop-transfer instructions. The Company agrees that following any of the Unrestricted Conditions is met or such legend is otherwise no longer required under this <u>Section 2(f)</u>, it will, no later than the earlier of (x) one (1) Trading Day and (y) the number of Trading Days comprising the Standard Settlement Period following the delivery by the Holder to the Company or the Transfer Agent of the Warrant Shares issued with a restrictive legend, deliver or cause to be delivered to the Holder or its designee the Warrant Shares free from all restrictive and other legends (or similar notations) by crediting the account of the Holder's prime broker with DTC, through its DWAC system. The Company acknowledges and agrees that, if the Holder delivers a certification that it is not an "affiliate" of the Company (as such term is used under Rule 144 under the Securities Act) and has not been an Affiliate for a period of three (3) months, then from and after the delivery thereof, the Holder shall be deemed to have certified that it is not an "affiliate" of the Company (as such term is used under Rule 144 under the Securities Act) upon each delivery of an Exercise Form, unless the Holder otherwise advises the Company in writing. For purposes of Rule 144 under the Securities Act and subsection (d)(3)(ii) thereof, it is intended, understood and acknowledged that (X) this Warrant shall be deemed to have been acquired, and the holding period thereof shall be deemed to have commenced, on [_____]<sup>5</sup> [(i.e., the date of the Contingent Payment Agreement pursuant to which this Warrant was issued)]<sup>6</sup>, and (Y) the Warrant Shares issuable upon any exercise of this Warrant pursuant to a Cashless Exercise shall be deemed to have been acquired, and the holding period thereof shall be deemed to have commenced, on such date. The Holder, by acceptance hereof, acknowledges and agrees that the removal of any restrictive legends from any securities as set forth in this <u>Section 2(f)(ii)</u> is predicated upon the Company's reliance that the Holder will sell such securities pursuant to either the registration requirements of the Securities Act or an exemption therefrom, and that if such securities are sold pursuant to a registration statement, they will be sold while such registration statement is effective and available for resales of such securities, in compliance with the plan of distribution set forth therein.

<sup>4</sup> **NTD**: Clause (ii) will only be included in Closing Share Warrants subject to the Lock-Up (as defined in the Registration Rights Agreement).

<sup>5</sup> **NTD**: Insert the Closing Date under the Merger Agreement.

<sup>6</sup> **NTD**: Bracketed language to be included in the Parent Share Warrant (and not the Closing Share Warrant).

Exhibit M-5

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Holder covenants that it will not sell or otherwise transfer any Warrants or Warrant Shares except pursuant to an effective registration statement under the Securities Act or pursuant to an exemption from the registration and prospectus-delivery requirements of the Securities Act.

(h) ***No Fractional Shares or Scrip***. No fractional shares or scrip representing fractional Warrant Shares shall be issued upon the exercise of this Warrant. If pursuant to an exercise of this Warrant the Holder would be entitled to a fractional Common Share, then either (i) the number of Common Shares issuable upon such exercise shall be rounded up to the next higher whole number of Common Shares or (ii) the Company will pay, in lieu of delivering such fractional share, a cash amount equal to the product of the related fraction and the Volume Weighted Average Price per share of Common Stock on the trading day immediately before the related Exercise Date.

(i) ***Replacement of Warrant***. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and substance to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new Warrant of like tenor and amount.

(j) ***No Rights of Stockholders***. Except as otherwise provided herein, including in <u>Section 4(b)</u>, the Holder shall not be entitled to vote or be otherwise deemed the holder of Common Shares or any other securities of the Company that may at any time be issuable on the exercise hereof for any purpose under this Agreement, nor shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value, or change of stock to no par value, consolidation, merger, conveyance, or otherwise) or to receive notice of meetings.

Exhibit M-6

(k) ***Holder's Exercise Limitations***. Notwithstanding anything to the contrary contained herein, the Company shall not effect any exercise of this Warrant (or issue any Warrant Shares thereupon), and the Holder shall not have the right to exercise any portion of this Warrant or acquire Warrant Shares pursuant to <u>Section 2(c)</u> or otherwise, to the extent that after giving effect to such exercise as contemplated by the applicable Exercise Form, the number of Common Shares then beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder's for purposes of Section 13(d) of the Exchange Act (including shares beneficially owned by any "group" of which the Holder is a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) (the "<u>Attribution Parties</u>"), would exceed [4.9]<sup>7</sup>% of the total number of Common Shares issued (excluding treasury shares) (the "<u>Beneficial Ownership Limitation</u>"); <u>provided, however</u>, that the Beneficial Ownership Limitation shall only apply to the extent that the Common Stock is deemed to constitute an "equity security" pursuant to Rule 13d-1(i) promulgated under the Exchange Act. For purposes hereof, "group" has the meaning set forth in Section 13(d) of the Exchange Act and applicable regulations of the SEC, and the percentage beneficially owned by the Holder shall be determined in a manner consistent with the provisions of Section 13(d) of the Exchange Act. For purposes hereof, the Holder may rely on the number of outstanding Common Shares as set forth in the Company's most recent annual report filed with the SEC, or any report filed by the Company with the SEC subsequent thereto, in each case, unless the Company has confirmed to the Holder the number of Common Shares outstanding as provided in the next sentence (in which case the Holder may rely upon such confirmation); <u>provided, that</u> the number of outstanding shares of Common Stock for such purposes shall be determined after giving effect to the exercise or conversion of securities of the Company, including this Warrant, any other warrants and any convertible notes, by the Holder and its Affiliates since the date as of which such number of outstanding shares of Common Stock was reported. Upon the written request of the Holder, the Company shall, within two (2) Trading Days, confirm in writing to the Holder the number of Common Shares then outstanding. Each delivery of an Exercise Form by the Holder will constitute a representation by the Holder that it has evaluated the limitation set forth in this paragraph and determined that the issuance of the full number of Common Shares requested in such Exercise Form is permitted under this paragraph.

(l) ***Buy-in***. In addition to any other rights or remedies available to the Holder under this Warrant, the Merger Agreement or any Ancillary Agreement or otherwise at law or in equity, at the written election of the Holder made in the Holder's sole discretion, if, on or after the last day of the Delivery Period in respect of such Exercise, the Holder or its brokerage firm purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares that the Holder was entitled to receive upon such exercise (such purchased shares, "<u>Buy-In Shares</u>"), the Company shall (1) be obligated to promptly pay to the Holder (in addition to all other available remedies that the Holder may otherwise have), 100% of the amount by which (A) the Holder's total purchase price (including brokerage commissions, if any) for such Buy-In Shares exceeds (B) the net proceeds received by the Holder from the sale of a number of shares equal to up to the number of Warrant Shares such Holder was entitled to receive but had not received on or before the last day of such Delivery Period Date, and (2) at the option of the Holder, either reinstate the portion of this Warrant and equivalent number of Warrant Shares for which such exercise was not honored (and refund the Exercise Price therefor, to the extent paid by Holder), or deliver to the Holder the number of Common Shares that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. Nothing herein shall limit a Holder's right to pursue any other remedies available to it hereunder, at law or in equity including a decree of specific performance and/or injunctive relief with respect to the Company's failure to timely deliver the Common Shares upon exercise of this Warrant as required pursuant to the terms hereof

<sup>7</sup> **NTD**: Deerfield to confirm the level of the Beneficial Ownership Limitation (i.e., 4.9% or 9.9%).

Exhibit M-7

(m) ***Void Exercise Form***. If for any reason the Holder has not received all of the Warrant Shares (free of any restrictive legend, provided that any Unrestricted Condition is satisfied) prior to the tenth (10th) Business Day after the expiration of the Delivery Period with respect to an exercise of this Warrant in accordance with Section 2(d), then the Holder, upon written notice to the Company by facsimile or electronic mail (a "<u>Void Exercise Notice</u>"), may void its Exercise Form with respect to, and retain or have returned, as the case may be, any portion of this Warrant with respect to which Warrant Shares have not been delivered pursuant to the Holder's Exercise Form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Certain Representations and Agreements. The Company represents, covenants and agrees</u>:

(a) This Warrant is, and any Warrant issued in substitution for or replacement of this Warrant shall be, upon issuance, duly authorized and validly issued.

(b) All Warrant Shares issuable upon the exercise of, or otherwise pursuant to, this Warrant pursuant to the terms hereof shall be, upon issuance, and the Company shall take all such actions as may be necessary or appropriate in order that such Warrant Shares are, validly issued, fully paid and non-assessable, issued without violation of any preemptive or similar rights of any stockholder of the Company, and free from all taxes, liens and charges. As of the Original Issue Date, the Company has reserved from its authorized and unissued Common Shares, exclusively for issuance upon exercise of this Warrant, and from and after the Original Issue Date the Company shall at all times reserve and keep available out of its authorized but unissued Common Shares solely for the purpose of effecting exercises of this Warrant, such number of Common Shares as shall from time to time be sufficient to effect the exercise of this Warrant in full for cash (without giving effect to the Beneficial Ownership Limitation); and if at any time the number of authorized but unissued Common Shares shall not be sufficient to effect the exercise of this Warrant in full, the Company will use reasonable best efforts to take such corporate action as may be necessary to increase its authorized but unissued Common Shares to such number of shares as shall be sufficient for such purpose, including, without limitation, calling a special meeting of stockholders and/or any other relevant corporate body to amend the Company's charter increasing the authorized share capital of the sufficiently high to meet the Company's obligations under this <u>Section 3(b)</u>.

(c) The Company shall take all such actions as may be necessary to ensure that all Warrant Shares are issued without violation of any applicable law or governmental regulation or any requirements of any securities exchange upon which shares of the Company's capital stock may be listed at the time of such exercise.

(d) The Company will use its reasonable best efforts to procure, subject to issuance or notice of issuance, the listing of any Warrant Shares issuable upon exercise of this Warrant on the principal stock exchange on which the Common Stock is then listed or traded.

Exhibit M-8

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Adjustments and Other Rights</u>. The Exercise Price and Warrant Share Number shall be subject to adjustment from time to time as follows; <u>provided, that</u> no single event shall cause an adjustment or distribution under more than one subsection of this Section 4 so as to result in duplication.

(a) ***Stock Splits, Subdivisions, Reclassifications or Combinations***. If the Company shall at any time or from time to time (i) pay or make a dividend or make a distribution on its Common Stock in Common Shares, (ii) split, subdivide or reclassify the outstanding Common Shares into a greater number of shares or (iii) combine or reclassify the outstanding Common Shares into a smaller number of shares, the Warrant Share Number at the time of the record date for such dividend or distribution or the effective date of such split, subdivision, combination or reclassification shall be proportionately adjusted so that the Holder immediately after such record date or effective date, as the case may be, shall be entitled to purchase the number of Common Shares which such Holder would have owned or been entitled to receive in respect of the Common Shares subject to this Warrant after such date had such Holder held a number of Common Shares equal to the Warrant Share Number immediately prior to such record date or effective date, as the case may be. In the event of such adjustment, the Exercise Price in effect at the time of the record date for such dividend or distribution or the effective date of such split, subdivision, combination or reclassification shall be immediately adjusted to the number obtained by dividing (x) the product of (1) the Warrant Share Number before the adjustment determined pursuant to the immediately preceding sentence and (2) the Exercise Price in effect immediately prior to the record or effective date, as the case may be, for the dividend, distribution, split, subdivision, combination or reclassification giving rise to such adjustment by (y) the new Warrant Share Number determined pursuant to the immediately preceding sentence.

(b) ***Distributions***. Notwithstanding anything to the contrary contained herein (including, for the avoidance of doubt, <u>Section 2(i)</u>), the Holder, as the holder of this Warrant, shall be entitled to receive, and shall be paid by the Company, any dividend paid or distribution of any kind made to the holders of Common Stock, other than a dividend or distribution resulting in an adjustment pursuant to <u>Section 4(a)</u>, to the same extent as if the Holder had exercised this Warrant in full in a Cash Exercise (without regard to the Beneficial Ownership Limitation or any other limitations on exercise herein or elsewhere and without regard to whether or not a sufficient number of shares are authorized, reserved and available to effect any such exercise and issuance) and had held such Warrant Shares on the record date for such dividend or distribution (or, if there is no record date therefor, on the date of such dividend or distribution). Payments or distributions under this <u>Section 4(b)</u> shall be made concurrently with the dividend or distribution to holders of the Common Stock.

Exhibit M-9

(c) ***Purchase Rights***. If at any time on or after the Original Issue Date, the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property, in each case pro rata to the record holders of any class of Common Stock (the "<u>Purchase Rights</u>"), and such grant, issuance or sale does not result in a dividend or distribution resulting in an adjustment pursuant to <u>Section 4(a)</u> or a distribution to the Holder pursuant to <u>Section 4(b)</u>, then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had exercised this Warrant in full in a cash exercise (without regard to the Beneficial Ownership Limitation or any other limitations on exercise herein or elsewhere and without regard to whether or not a sufficient number of shares are authorized, reserved and available to effect any such exercise and issuance) and had held such Warrant Shares on the record date for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Stock are to be determined for the grant, issuance or sale of such Purchase Rights. As used in this Section 9(c), (i) "<u>Options</u>" means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities and (ii) "<u>Convertible Securities</u>" mean any stock or securities (other than Options) directly or indirectly convertible into or exercisable or exchangeable for shares of Common Stock.

(d) ***Organic Change***.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If, at any time while this Warrant is outstanding an Organic Change is consummated or otherwise occurs, then, upon exercise of this Warrant, the Holder shall be entitled to receive in lieu of (or in addition to, as the case may be) the Warrant Shares, the kind and amount of securities, cash or other property of the Company or the Successor Entity, as the case may be, resulting from such Organic Change, which a Holder of the Warrant Share Number (at the time of such Organic Change and, for the avoidance of doubt, without regard to the Beneficial Ownership Limitation or any other restriction or limitation on exercise and without regard to whether or not a sufficient number of shares are authorized, reserved and available to effect any such exercise and issuance) of Warrant Shares would have been entitled to receive upon consummation of such Organic Change if such Warrant Shares had been outstanding immediately prior to such Organic Change; and in any such case, if applicable, the provisions set forth herein with respect to the rights and interests thereafter of the Holder shall be appropriately adjusted (pursuant to a written agreement in form and substance reasonably satisfactory to the Holder) so as to be applicable, as nearly as may reasonably be, to the Holder's right to exercise this Warrant in exchange for any shares of stock or other securities or property pursuant to this paragraph. If holders of Common Shares are given any choice as to the kind and/or amount of stock and/or other securities or property (including cash) to be received in an Organic Change, then the Holder shall be given the same choice as to the consideration it receives upon any exercise of this Warrant following such Organic Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Company shall cause any acquiring, surviving or successor entity in an Organic Change in which the Company does not survive as the parent entity (the "<u>Successor Entity</u>") to assume in writing all of the obligations of the Company under this Warrant and the Registration Rights Agreement in accordance with the provisions hereof and thereof pursuant to written agreements in form and substance approved by the Holder (which approval shall not be unreasonably withheld, conditioned or delayed), including agreements to deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant. Upon the occurrence of any such Organic Change in which there is a Successor Entity, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Organic Change, the provisions of this Warrant referring to the "Company" shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the Registration Rights Agreement with the same effect as if such Successor Entity had been named as the Company herein and therein.

Exhibit M-10

(e) ***Other Events***. If any event of the type contemplated by the provisions of <u>Section 4(a)</u>, <u>4(b)</u>, <u>4(c)</u> or <u>4(d)</u> or any other provision hereof that provides for an adjustment of Exercise Price, the Warrant Share Number, or the number and class of shares of capital stock issuable upon exercise of this Warrant, but not expressly provided for by any such provision occurs, then the Company shall make an appropriate adjustment in the Exercise Price, the Warrant Share Number and/or number and class of shares of capital stock issuable upon exercise of this Warrant so as to protect the rights of the Holder in a manner consistent with such provisions; <u>provided, that</u> no such adjustment shall increase the Exercise Price or decrease the Warrant Share Number except as otherwise determined pursuant to the express provisions of <u>Section 4(a)</u>.

(f) ***Calculations***. All calculations under this <u>Section 4</u> shall be made to the nearest one-hundredth (1/100th) of a cent or to the nearest one-tenth (l/10th) of a share, as the case may be.

(g) ***Notice of Adjustments***. Whenever the Exercise Price or the Warrant Share Number shall be adjusted as provided in this <u>Section 4</u>, the Company shall as promptly as practicable prepare and make available to the Holder a statement showing in reasonable detail the facts requiring such adjustment and the Exercise Price and Warrant Share Number that shall be in effect after such adjustment.

(h) ***Adjustment Rules***. Any adjustments pursuant to this <u>Section 4</u> shall be made successively whenever an event referred to herein shall occur. If an adjustment in Exercise Price made hereunder would reduce the Exercise Price to an amount below par value of the Common Stock, then such adjustment in Exercise Price made hereunder shall reduce the Exercise Price to the par value of the Common Stock.

(i) ***Proceedings Prior to any Action Requiring Adjustment***. As a condition precedent to the taking of any action which would require an adjustment pursuant to this <u>Section 4</u>, the Company shall take such actions as are necessary, which may include obtaining regulatory, stock exchange or stockholder approvals or exemptions, in order that the Company may thereafter validly and legally issue as fully paid and nonassessable Common Shares (and any other securities, if applicable) that the Holder is entitled to receive upon exercise of this Warrant pursuant to this <u>Section 4</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Taxes; HSR.</u>

(a) ***Taxes***. The Company shall be responsible for paying all present or future stamp, court or documentary, intangible, recording, filing or similar taxes that arise from the issuance of this Warrant and any payment or issuance made under, from the execution, delivery, performance, enforcement or otherwise with respect to, this Warrant, including upon the issuance of Warrant Shares or other securities issued upon the exercise hereof.

Exhibit M-11

(b) ***HSR Submissions***. If the Holder determines in good faith that the exercise of this Warrant is subject to notification under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended, and the related rules and regulations promulgated thereunder (collectively, the "<u>HSR Act</u>"), each of the Company and the Holder agrees to (i) cooperate with the other party in the other party's preparing and making such submission and any responses to inquiries of the Federal Trade Commission ("<u>FTC</u>") and/or Department of Justice ("<u>DOJ</u>"); and (ii) prepare and make any submission required to be filed by the Company or the Holder, as applicable, under the HSR Act and respond to inquiries of the FTC and DOJ in connection therewith. The Company shall pay, or reimburse the Holder for, the costs of any required filing fees for any submissions under the HSR Act. Where the Holder notifies the Company that, pursuant to this section, the Holder has determined that an HSR filing is required, the Company shall not issue Warrant Shares until the expiration or early termination of the applicable waiting period under the HSR Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Dispute Resolution</u>. In the case of a dispute between the Company and the Holder as to the determination of the Exercise Price, Market Price or Volume Weighted Average Price, the Company shall issue, or instruct the Transfer Agent to issue, as applicable, to the Holder the number of Warrant Shares that is not disputed and shall transmit an explanation of the disputed determinations or arithmetic calculations to the Holder via email within one (1) Business Day of receipt or deemed receipt of the Holder's Exercise Form or other date of determination. If the Holder and the Company are unable to agree upon the determination of the Exercise Price, Market Price or Volume Weighted Average Price within one (1) Business Day of such disputed determination or arithmetic calculation being transmitted to the Holder, then the Company shall promptly (and in any event within two (2) Business Days) submit via email (A) the disputed determination of the Exercise Price, Market Price or Volume Weighted Average Price, as applicable, to an independent, reputable investment banking firm selected by the Company and subject to the approval of the Holder (such consent not to be unreasonably withheld, conditioned or delayed), or (B) in the case of a dispute as to the arithmetic calculation of the Exercise Price or the arithmetic calculation of the Volume Weighted Average Price, to an independent registered public accounting firm selected by the Company, subject to the approval of the Holder. The Company shall direct the investment bank or the accounting firm, as the case may be, to perform the determinations or calculations and notify the Company and the Holder of the results no later than two (2) Business Days from the time it receives the disputed determinations or calculations. Such investment bank's or accounting firm's determination or calculation, as the case may be, shall be binding upon all parties absent manifest error. Neither the Holder nor the Company shall have the right to dispute any determination pursuant to the provisions of this <u>Section 6</u> unless such party notifies the other party of such dispute in writing no later than two (2) Business Days after the other party notifies the Holder or the Company, as applicable, in writing of such determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Frustration of Purpose</u>. The Company hereby covenants and agrees that the Company will not, by amendment of its certificate of incorporation, bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in good faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder. Without limiting the generality of the foregoing, the Company (i) shall not increase the par value of any Common Shares receivable upon the exercise of this Warrant above the Exercise Price then in effect and (ii) shall take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Common Shares upon the exercise of this Warrant.

Exhibit M-12

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Definitions</u>. For the purposes of this Warrant, the following terms have the following meanings:

"<u>Action</u>" means any legal, regulatory or administrative proceeding, suit, investigation, arbitration or action.

"<u>Rule 144 Affiliate</u>" means, with respect to any person as of the applicable time of determination, that such person is not as of such time, and has not been at any time during the preceding three months, a "person" that is an "affiliate" of the Company within the meaning of Rule 144.

"<u>Beneficial Ownership Limitation</u>" has the meaning specified in <u>Section 2(j)</u> hereof.

"<u>Business Da</u>y" any day, except a Saturday, Sunday or legal holiday, on which banking institutions in the city of New York, New York are authorized or obligated by law or executive order to close; provided, however, for clarification, bank institutions shall not be deemed to be authorized or obligated by law or executive order to remain closed due to "stay at home," "shelter-in-place," "non-essential employee" or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in the City of New York generally are open for use by customers on such day.

"<u>Cash Exercise</u>" has the meaning specified in <u>Section 2(b)</u> hereof.

"<u>Cashless Exercise</u>" has the meaning specified in <u>Section 2(c)</u> hereof.

"<u>Common Shares</u>" means shares of Common Stock.

"<u>Common Stock</u>" has the meaning specified in the preamble hereof.

"<u>Company</u>" has the meaning specified in the preamble hereof.

["<u>Contingent Payment Agreement</u>" has the meaning set forth in the preamble hereof.]

"<u>Delivery Period</u>" means, in respect of each exercise of the Holder's purchase right hereunder, the period commencing on the delivery of an Exercise Form in respect of such exercise and ending on the deadline for delivery of the applicable Warrant Shares as set forth in <u>Section 2(e)</u>.

"<u>DTC</u>" has the meaning specified in <u>Section 2(d)</u> hereof.

"<u>DWAC</u>" has the meaning specified in <u>Section 2(d)</u> hereof.

Exhibit M-13

"<u>Exchan</u>g<u>e Act</u>" means the Securities Exchange Act of 1934, as amended.

"<u>Exercise Date</u>" has the meaning specified in <u>Section 2(a)</u> hereof.

"<u>Exercise Form</u>" has the meaning specified in <u>Section 2(a)</u> hereof.

"<u>Exercise Price</u>" has the meaning specified in <u>Section 2(a) hereof.</u>

"<u>Holder</u>" means the Person or Persons who shall from time to time own this Warrant.

"Lock-Up Release Date" means [______].<sup>8</sup>

"<u>Market Price</u>" means, with respect to a share of Common Stock or any other security, on any given day, the arithmetic average of the Volume Weighted Average Price (as defined below) of the Company's Common Stock or such security on each of the five (5) consecutive Trading Days ending immediately prior to the Exercise Date. In the event that a Stock Event is consummated during any period for which the arithmetic average of the Volume Weighted Average Prices is to be determined, the Volume Weighted Average Price for all Trading Days during such period prior to the effectiveness of the Stock Event shall be appropriately adjusted to reflect such Stock Event.

["<u>Merger Agreement</u>" has the meaning set forth in the preamble hereof.]

"<u>Organic Change</u>" means any merger, consolidation, business combination, recapitalization, reorganization, reclassification, spin-off or other transaction other than a transaction subject to <u>Section 4(a)</u>, in each case, that is effected in such a way that the outstanding Common Shares are converted into, are exchanged for or become the right to receive (either directly or upon subsequent liquidation) cash, securities or other property.

"<u>Original Issue Date</u>" means the date this Warrant is originally issued pursuant to the [Merger Agreement] / [Contingent Payment Agreement].

"<u>Person</u>" means an individual, corporation, limited liability company, partnership, joint venture, association, trust, unincorporated organization or any other entity.

"<u>Principal Market</u>" means the principal securities exchange or trading market for such security.

"<u>Registration Rights Agreement</u>" means that certain Registration Rights Agreement, dated as of [_______], among the Company, Deerfield Private Design Fund IV, L.P., Deerfield Private Design Fund III, L.P. and any other Investors (as defined therein) from time to time signatory thereto, as may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.

"<u>SEC</u>" means the U.S. Securities and Exchange Commission.

"<u>Securities Act</u>" means the Securities Act of 1933, as amended.

"<u>Standard Settlement Period</u>" means the standard settlement period for equity trades effected by U.S. broker-dealers, expressed in a number of Trading Days, as in effect on the applicable date.

<sup>8</sup> NTD: Insert the 60<sup>th</sup> day following the Original Issue Date in the Tranche 1 Warrants (as defined in the Registration Rights Agreement) and the 120<sup>th</sup> day following the Original Issue Date in the Tranche 2 Warrants (as defined in the Registration Rights Agreement). For the avoidance of doubt, warrants issued pursuant to the Contingent Payment Agreement will not reflect a Lock-Up Release Date (or be subject to a lock-up).

Exhibit M-14

"<u>Stock Event</u>" means any stock split or other subdivision of outstanding Common Stock, combination of outstanding Common Stock (including by reverse stock split), reclassification, payment of a stock dividend in Common Shares, recapitalization, or other similar transaction of such character that Common Shares shall be changed into or become exchangeable for a larger or smaller number of Common Shares.

"<u>Term</u>" has the meaning specified in <u>Section 1</u> hereof.

"<u>Trading Day</u>" means any day on which the Common Shares are traded for any period on the Nasdaq Global Select Market, or if the Common Shares are no longer listed on the Nasdaq Global Select Market on the other United States securities exchange or market on which the Common Shares are then being principally traded. If the Common Shares are not so listed or traded, then "<u>Trading Day</u>" means a Business Day.

"<u>Unrestricted Conditions</u>" has the meaning specified in <u>Section 2(f)(ii)</u> hereof.

"<u>Volume Weighted Average Price</u>" means, with respect to a share of Common Stock or any other security as of any date, the volume weighted average sale price on the principal United States exchange or market on which the Common Stock or such security is then being traded as reported by, or based upon data reported by, Bloomberg Financial Markets or an equivalent, reliable reporting service mutually acceptable to and hereafter designated by the Holder and the Company ("<u>Bloomberg</u>"), or, if no volume weighted average sale price is reported for such security, then the last closing trade price of such security as reported by Bloomberg, or, if no last closing trade price is reported for such security by Bloomberg, the average of the bid prices of any market makers for such security on the OTC Bulletin Board, the OTCQX Market, the OTCQB Market or Pink Open Market of OTC Markets Group (or, in each case, any successor to such market).

"<u>Warrant</u>" means this Warrant and any other warrants of like tenor issued in substitution or exchange for any thereof pursuant to the provisions of <u>Section 2(d)</u> hereof.

"<u>Warrant Share Number</u>" means [___], subject to adjustment as set forth herein, including reduction for each Common Share as to which this Warrant has been exercised (whether pursuant to a Cash Exercise or a Cashless Exercise) hereunder (subject to the Company's compliance with its obligations with respect to each such exercise under <u>Section 2</u> hereof).

"<u>Warrant Shares</u>" has the meaning set forth in the preamble.

"<u>Warrants</u>" means, collectively, this Warrant and each other warrant issued in exchange, transfer or replacement hereof or thereof, as any of the foregoing may be amended, restated, supplemented or otherwise modified from time.

Exhibit M-15

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Amendment and Waiver</u>. Any term, covenant, agreement or condition in this Warrant may be amended, or compliance therewith may be waived (either generally or in a particular instance and either retroactively or prospectively), by a written instrument or written instruments executed by the Company and the Holder, and all amendments and waivers so approved shall be binding upon holders of all warrants issued pursuant to the Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Governing Law; Jurisdiction; Specific Performance; WAIVER OF JURY TRIAL.</u> This Warrant and all matters concerning the construction, validity, enforcement and interpretation hereof or otherwise relating hereto shall be governed by, and construed in accordance with, and all disputes arising out of or in connection with this Agreement shall be resolved under, the laws of the State of Delaware, without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of laws of any jurisdiction other than those of the State of Delaware. All Actions arising out of or relating to this Warrant shall be commenced exclusively in the Delaware Court of Chancery or, solely if the Delaware Court of Chancery does not have subject matter jurisdiction thereof, any other court of the State of Delaware or any federal court sitting in the State of Delaware, and the parties hereto hereby irrevocably submit to the exclusive jurisdiction and venue of such courts in any such Action and irrevocably waive the defense of an inconvenient forum or lack of jurisdiction to the maintenance of any such Action. The consents to jurisdiction and venue set forth in this Section 10 shall not constitute general consents to service of process in the State of Delaware and shall have no effect for any purpose except as provided in this paragraph and shall not be deemed to confer rights on any Person other than the parties hereto. Each party hereto agrees that service of process upon such party in any Action arising out of or relating to this Warrant shall be effective if notice is given by overnight courier at the address set forth in Section 11 of this Warrant. The parties hereto agree that a final judgment in any such Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable law; provided, however, that nothing in the foregoing shall restrict any party's rights to seek any post-judgment relief regarding, or any appeal from, a final trial court judgment. The parties hereto agree that irreparable damage for which monetary relief, even if available, would not be an adequate remedy, would occur in the event that the parties hereto do not perform the provisions of this Warrant in accordance with its specified terms or otherwise breach such provisions. Accordingly, the parties acknowledge and agree that the parties shall be entitled to seek an injunction or injunctions, specific performance or other equitable relief to prevent breaches of this Warrant and to enforce specifically the terms and provisions hereof in the courts without proof of damages or otherwise, this being in addition to any other remedy to which they are entitled under this Warrant, the Merger Agreement or any Ancillary Agreement, and this right of specific enforcement is an integral part of the terms of this Warrant. The parties agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to law or inequitable for any reason, and agree not to assert that a remedy of monetary damages would provide an adequate remedy or that the parties otherwise have an adequate remedy at law. The parties acknowledge and agree that any party shall not be required to provide any bond or other security in connection with its pursuit of an injunction or injunctions to prevent breaches of this Warrant and to enforce specifically the terms and provisions hereof. The remedies provided in this Warrant shall be cumulative and in addition to all other remedies available under this Warrant, the Merger Agreement, each Ancillary Agreement, at law or in equity (including a decree of specific performance and/or other injunctive relief). **THE PARTIES HERETO, TO THE EXTENT PERMITTED BY APPLICABLE LAW, HEREBY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING ARISING OUT OF, IN CONNECTION WITH OR RELATING TO, THIS WARRANT.**

Exhibit M-16

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Notices</u>. All notices, requests, claims, demands and other communications under this Warrant shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by email, or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties hereto at the following respective addresses (or at such other address for a party hereto as shall be specified in a notice given in accordance with this Section 11):

(a) If to the Holder:

c/o Deerfield Management Company, L.P.

345 Park Avenue South, 12th Floor

New York, NY 10010

Attn: Legal Department

E-mail: [\*\*\*]

With a copy to (which copy alone shall not constitute notice):

Katten Muchin Rosenman LLP

525 West Monroe Street

Chicago, IL 60661

Attn: Mark D. Wood and Jonathan D. Weiner

Email: mark.wood@katten.com, jonathan.weiner@katten.com

or at such other address or contact information delivered by the Holder to the Company in writing.

(b) If to the Company:

CorMedix, Inc.

300 Connell Drive, Suite 4200<br> Berkeley Heights, NJ 07922<br> Attention: Joseph Todisco and Beth Zelnick Kaufman<br> Email: [\*\*\*]

with a copy to (which copy alone shall not constitute notice):

Willkie Farr & Gallagher LLP<br> 787 7th Avenue<br> New York, New York 10019<br> Attention: Jared Fertman and Andrew Marmer<br> Email: jfertman@willkie.com; amarmer@willkie.com

Exhibit M-17

In connection with any exercise or assignment of this Warrant, no ink-original Exercise Form or Assignment Form, as applicable, shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Exercise Form or Assignment Form be required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Successors and Assigns</u>. This Warrant and the rights evidenced hereby shall inure to the benefit of and be binding upon the Company and the Holder and their respective successors and permitted assigns (subject to Section 2(e) with respect to the Holder); provided that the Company shall not assign its obligations under this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Modification and Severability</u>. The provisions of this Warrant will be deemed severable and the invalidity or unenforceability of any provision will not affect the validity or enforceability of any other provision hereof. To the fullest extent permitted by law, if any provision of this Warrant, or the application thereof to any Person or circumstance, is invalid or unenforceable, (a) a suitable and equitable provision will be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision, and (b) the remainder of this Warrant and the application of such provision to other Persons, entities or circumstances will not be affected by such invalidity or unenforceability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Material Nonpublic Information</u>. The provisions of Section 13 of the Registration Rights Agreement are incorporated herein by reference, with the same force and effect as if fully set forth herein, *mutatis mutandis*. Such provisions shall be so incorporated and enforceable hereunder regardless of any termination, modification or amendment of the Registration Rights Agreement or the existence or non-existence of Registrable Securities (as defined in the Registration Rights Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Interpretation</u>. When a reference is made in this Warrant to a Section, such reference shall be to a Section of this Warrant unless otherwise indicated. The headings contained in this Warrant are for reference purposes only and shall not affect in any way the meaning or interpretation of this Warrant. Whenever the words "include," "includes" or "including" are used in this Warrant, they shall be deemed to be followed by the words "without limitation." The words "hereof," "herein" and "hereunder" and words of similar import when used in this Warrant shall refer to this Warrant as a whole and not to any particular provision of this Warrant unless the context requires otherwise. The words "date hereof' when used in this Warrant shall refer to the date of this Warrant. The terms "or," "any" and "either" are not exclusive. The word "extent" in the phrase "to the extent" shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply "if." The word "will" shall be construed to have the same meaning and effect as the word "shall." All terms defined in this Warrant shall have the defined meanings when used in any document made or delivered pursuant hereto unless otherwise defined therein. The definitions contained in this Warrant are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. Any agreement, instrument or statute defined or referred to herein or in any agreement or instrument that is referred to herein means such agreement, instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and references to all attachments thereto and instruments incorporated therein. Unless otherwise specifically indicated, all references to "dollars" or "$" shall refer to, and all payments hereunder shall be made in, the lawful money of the United States. References to a Person are also to its successors and permitted assigns. When calculating the period of time between which, within which or following which any act is to be done or step taken pursuant to this Warrant, the date that is the reference date in calculating such period shall be excluded (and, unless otherwise required by law, if the last day of such period is not a Business Day, the period in question shall end on the next succeeding Business Day).

[*Signature pages follow*]

Exhibit M-18

IN WITNESS WHEREOF, the Company has duly executed this Warrant.

Dated: [____]

---

| | |
|:---|:---|
| **CORMEDIX, INC.** | **CORMEDIX, INC.** |
| By: |  |
|  | Name: |
|  | Title: |

---

[*Signature Page to Warrant to Purchase Shares of Common Stock of CorMedix, Inc.*]

Exhibit M-19

**EXHIBIT A**

**FORM OF EXERCISE NOTICE**<br> (To be executed by the registered holder hereof)

Reference is made to the Warrant to Purchase Common Shares of CorMedix, Inc. No. W-[_] (the "<u>Warrant</u>").

The undersigned hereby irrevocably exercises the Warrant with respect to shares of common stock, par value $0.001 per share (the "<u>Common Stock</u>"), of CorMedix, Inc., a Delaware corporation (the "<u>Company</u>").

Check the applicable box:

☐ The undersigned is exercising the Warrant with respect to [_______] shares of Common Stock pursuant to a Cashless Exercise, and makes payment of the Exercise Price with respect to such shares in full, all in accordance with the conditions and provisions of the Warrant applicable to such Cashless Exercise.

☐ The undersigned is exercising the Warrant with respect to [__________] shares of Common Stock pursuant to a Cash Exercise. [IF APPLICABLE: The undersigned hereby encloses, or has delivered by wire transfer to an account designated by the Company, $____ as payment of the Exercise Price.]

1. The undersigned requests that [any stock certificates for such shares be issued free of any restrictive legend, if appropriate,]/[the shares be credited to the Holder's account with its prime broker by DWAC to the account specified below] [and, if requested by the undersigned, a warrant representing any unexercised portion hereof be issued, pursuant to the Warrant in the name of the undersigned and delivered to the undersigned at the address set forth below.]

2. Capitalized terms used but not otherwise defined in this Exercise Form shall have the meaning ascribed thereto in the Warrant.

Dated: _______________

Please issue shares of Common Stock in the following name and to the following address:

Issue to (print name):

Email Address:

DTC Details (if applicable):

Address for Stock Certificates (if applicable):

Exhibit M-20

**EXHIBIT B**

**ASSIGNMENT FORM**<br> (To be executed by the registered holder hereof)

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto the within Warrant and all rights evidenced thereby and does irrevocably constitute and appoint , attorney, to transfer the said Warrant on the books of the within named corporation.

Dated: Signature ____________________________ <br>Address _____________________________

PARTIAL ASSIGNMENT<br> (To be executed by the registered holder hereof)

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto the right to purchase Common Shares issuable upon exercise of the attached Warrant, and does irrevocably constitute and appoint , attorney, to transfer that part of the said Warrant on the books of the within named corporation.

Dated: Signature ____________________________ <br>Address _____________________________

Exhibit M-21

**EXHIBIT N**

**Form of Equity Value Recognition Bonus Plan**

[Omitted]

Exhibit N-1

**EXHIBIT O**

**Form of Option Treatment Agreement**

[Omitted]

Exhibit O-1

**EXHIBIT P**

**Form of Promised Equity Cancellation Agreement**

[Omitted]

Exhibit P-1

**EXHIBIT Q-1**

**Form of Institutional Restrictive Covenant Agreement**

[Omitted]

Exhibit Q-1-1

**EXHIBIT Q-2**

**Form of Individual Restrictive Covenant Agreement**

[Omitted]

Exhibit Q-2-1

**EXHIBIT R**

**Illustrative Working Capital Calculation**

[Omitted]

Exhibit R-1

**SCHEDULE 1.07(b)(x)<br> Instruments to Terminate**

None.

Schedule 1.07(b)(x)-1

**SCHEDULE 1.07(b)(xi)<br> Restrictive Covenant Signatories**

&nbsp;&nbsp;&nbsp;&nbsp;1. Christine Miller

&nbsp;&nbsp;&nbsp;&nbsp;2. Deerfield Private Design Fund III, L.P.

&nbsp;&nbsp;&nbsp;&nbsp;3. Deerfield Private Design Fund IV, L.P.

Schedule 1.07(b)(xi)-1

**SCHEDULE 6.01(a)<br> Foreign Legal Restraints**

None.

Schedule 6.01(a)-1

**SCHEDULE 8.03(a)<br> Allocation of Merger Consideration**

[Omitted]

Schedule 8.03(a)-1

**SCHEDULE 8.03(b)<br> Index of Defined Terms**

---

| | |
|:---|:---|
| **2025 Annual Bonuses** | Section 5.05(e) |
| **280G Member Approval** | Section 5.13 |
| **Accounting Method Change** | Section 2.08(l) |
| **Additional Consideration Spreadsheet** | Section 5.06 |
| **Adjustment Escrow Fund** | Section 1.09(c)(ii) |
| **Agreement** | Preamble |
| **Agreement Date** | Preamble |
| **Authorizations** | Section 2.14(a) |
| **Bankruptcy, Equity and Indemnity Exception** | Section 2.04(a) |
| **Business Employee List** | Section 2.09(b) |
| **Certificate of Formation** | Section 1.07(b)(i) |
| **Certificate of Merger** | Section 1.03 |
| **Closing** | Section 1.02 |
| **Closing 8-K** | Section 5.10(b) |
| **Closing Date** | Section 1.02 |
| **Closing Share Consideration** | Section 1.09(a)(i) |
| **Closing Statement** | Section 1.10(a) |
| **Company** | Preamble |
| **Company Balance Sheet** | Section 2.06(b) |
| **Company Board** | Recitals |
| **Company Disclosure Letter** | Article II |
| **Company Employee** | Section 5.05(c) |
| **Company Indemnified Parties** | Section 5.09(a) |
| **Company Member Approval** | Section 2.04(b) |
| **Company Operating Agreement** | Section 1.07(b)(i) |
| **Company Registered Intellectual Property** | Section 2.17(a) |
| **Company Systems** | Section 2.17(h) |
| **Compensation Payments** | Section 1.09(b) |
| **Confidentiality Agreement** | Section 5.01(a) |
| **Consent** | Section 2.05(b) |
| **Consenting Company Members** | Recitals |
| **Contingent Payment Agreement** | Section 1.07(a)(vi) |
| **Continuation Period** | Section 5.05(c) |
| **Convertible Note Offering** | Section 3.09(a) |
| **Disputed Item** | Section 1.10(b) |
| **DLLCA** | Recitals |
| **Effective Time** | Section 1.03 |
| **Escrow Agent** | Section 1.09(c)(i) |
| **Escrow Agreement** | Section 1.09(c)(i) |
| **Estimated Company Cash** | Section 5.06 |
| **Estimated Company Debt** | Section 5.06 |
| **Estimated Transaction Expenses** | Section 5.06 |
| **Estimated Working Capital** | Section 5.06 |
| **Excess Payment** | Section 1.10(e) |
| **Financial Statements** | Section 2.06(a) |
| **Foreign Antitrust Laws** | Section 2.05(b) |
| **Foreign Benefit Plan** | Section 2.10(j) |

---

Schedule 8.03(b)-1

---

| | |
|:---|:---|
| **Form Offer Letter** | Section 2.10(a) |
| **GAAP** | Section 2.06(a) |
| **Grant Date** | Section 2.02(c) |
| **HSR Act** | Section 2.05(b) |
| **Independent Expert** | Section 1.10(c) |
| **Instrument** | Section 1.13(a) |
| **Judgment** | Section 2.05(a) |
| **Leased Real Property** | Section 2.12(a)(xv) |
| **Legal Restraints** | Section 6.01(a) |
| **Letter of Transmittal** | Section 1.14(a) |
| **Liens** | Section 2.11 |
| **LOT Documents** | Section 1.14(b) |
| **Material Contract** | Section 2.12(a) |
| **Members' Representative** | Preamble |
| **Members' Representative Group** | Section 1.13(c) |
| **Members' Representative's Costs** | Section 1.13(d) |
| **Merger** | Recitals |
| **Merger Sub** | Preamble |
| **Notice of Objection** | Section 1.10(b) |
| **Objection Period** | Section 1.10(b) |
| **Optionholder Notice** | Section 5.04(i) |
| **Outside Date** | Section 7.01(b)(i) |
| **Parent** | Preamble |
| **Parent 2013 Stock Plan** | Section 3.02(a) |
| **Parent 2019 Stock Plan** | Section 3.02(a) |
| **Parent Balance Sheet** | Section 3.12(b) |
| **Parent Disclosure Letter** | Article III |
| **Parent Fundamental Representations** | Section 6.02(a)(i) |
| **Parent Preferred Stock** | Section 3.02(a) |
| **Parent SEC Reports** | Section 3.11 |
| **Parent Series C-3 Preferred Stock** | Section 3.02(a) |
| **Parent Series E Preferred Stock** | Section 3.02(a) |
| **Parent Series G Preferred Stock** | Section 3.02(a) |
| **Parent Stock Plans** | Section 3.02(a) |
| **Payment Date** | Section 5.05(e) |
| **Pre-Closing Distribution** | Section 5.16 |
| **Privileged Communications** | Section 8.13 |
| **Proceeding** | Section 2.13(a) |
| **Promised Equity Grantee** | Section 1.13(a) |
| **Promised Equity Grants** | Section 1.13(a) |
| **Proprietary Software** | Section 2.17(h) |
| **Pro-Rated 2025 Annual Bonuses** | Section 5.05(e) |
| **R&W Policy** | Recitals |
| **Registration Rights Agreement** | Section 1.07(a)(vii |
| **Remedy Action** | Section 5.04(b) |
| **Resolution Period** | Section 1.10(c) |
| **Sarbanes-Oxley Act** | Section 3.11 |
| **Seller Group** | Section 8.13 |
| **Shortfall Payment** | Section 1.10(f) |
| **Spreadsheet** | Section 5.06 |
| **Surviving Company** | Section 1.01 |
| **Surviving Company Operating Agreement** | Section 1.05(a) |
| **Surviving Company Plans** | Section 5.05(f) |
| **Third-Party Consents** | Section 5.15 |
| **Top Customers** | Section 2.27(a) |
| **Top Vendors** | Section 2.27(a) |
| **TOPROL Acquisition Agreement** | Section 5.17 |
| **Transactions** | Recitals |
| **Transfer Taxes** | Section 5.11(a) |
| **Voting Company Debt** | Section 2.02(d) |
| **Waived 280G Benefits** | Section 5.13 |
| **Written Consent** | Recitals |

---

Schedule 8.03(b)-2

## Exhibit 4.1

**Exhibit 4.1**

CORMEDIX INC.

AND

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,

as Trustee

INDENTURE

Dated as of August [12], 2025

4.00% Convertible Senior Notes due 2030

**Table of Contents**

---

| | | |
|:---|:---|:---|
|  |  | Page |
| ARTICLE 1 | ARTICLE 1 | ARTICLE 1 |
| DEFINITIONS | DEFINITIONS | DEFINITIONS |
| Section 1.01. | *Definitions* | 1 |
| Section 1.02. | *References to Interest* | 21 |
| ARTICLE 2 | ARTICLE 2 | ARTICLE 2 |
| ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES | ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES | ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES |
| Section 2.01. | *Designation and Amount* | 21 |
| Section 2.02. | *Form of Notes* | 22 |
| Section 2.03. | *Date and Denomination of Notes; Payments of Interest and Defaulted Amounts* | 22 |
| Section 2.04. | *Execution, Authentication and Delivery of Notes* | 24 |
| Section 2.05. | *Exchange and Registration of Transfer of Notes; Restrictions on Transfer; Depositary* | 24 |
| Section 2.06. | *Mutilated, Destroyed, Lost or Stolen Notes* | 30 |
| Section 2.07. | *Temporary Notes* | 31 |
| Section 2.08. | *Cancellation of Notes Paid, Converted, Etc* | 31 |
| Section 2.09. | *CUSIP Numbers* | 31 |
| Section 2.10. | *Repurchases* | 32 |
| ARTICLE 3 | ARTICLE 3 | ARTICLE 3 |
| SATISFACTION AND DISCHARGE | SATISFACTION AND DISCHARGE | SATISFACTION AND DISCHARGE |
| Section 3.01. | *Satisfaction and Discharge* | 32 |
| ARTICLE 4 | ARTICLE 4 | ARTICLE 4 |
| PARTICULAR COVENANTS OF THE COMPANY | PARTICULAR COVENANTS OF THE COMPANY | PARTICULAR COVENANTS OF THE COMPANY |
| Section 4.01. | *Payment of Principal and Interest* | 33 |
| Section 4.02. | *Maintenance of Office or Agency* | 33 |
| Section 4.03. | *Appointments to Fill Vacancies in Trustee's Office* | 33 |
| Section 4.04. | *Provisions as to Paying Agent* | 33 |
| Section 4.05. | *Existence* | 34 |
| Section 4.06. | *Rule 144A Information Requirement and Annual Reports* | 34 |
| Section 4.07. | *Stay, Extension and Usury Laws* | 36 |
| Section 4.08. | *Compliance Certificate; Statements as to Defaults* | 36 |
| Section 4.09. | *Further Instruments and Acts* | 37 |
| Section 4.10. | *Limitation on Incurrence of Indebtedness* | 37 |
| Section 4.11. | *Stockholder Approval* | 37 |
| ARTICLE 5 | ARTICLE 5 | ARTICLE 5 |
| LISTS OF HOLDERS AND REPORTS BY THE COMPANY AND THE TRUSTEE | LISTS OF HOLDERS AND REPORTS BY THE COMPANY AND THE TRUSTEE | LISTS OF HOLDERS AND REPORTS BY THE COMPANY AND THE TRUSTEE |
| Section 5.01. | *Lists of Holders* | 38 |
| Section 5.02. | *Preservation and Disclosure of Lists* | 38 |

---

-i-

---

| | | |
|:---|:---|:---|
| ARTICLE 6 | ARTICLE 6 | ARTICLE 6 |
| DEFAULTS AND REMEDIES | DEFAULTS AND REMEDIES | DEFAULTS AND REMEDIES |
| Section 6.01. | *Events of Default* | 38 |
| Section 6.02. | *Acceleration; Rescission and Annulment* | 39 |
| Section 6.03. | *Additional Interest* | 40 |
| Section 6.04. | *Payments of Notes on Default; Suit Therefor* | 41 |
| Section 6.05. | *Application of Monies Collected by Trustee* | 42 |
| Section 6.06. | *Proceedings by Holders* | 43 |
| Section 6.07. | *Proceedings by Trustee* | 44 |
| Section 6.08. | *Remedies Cumulative and Continuing* | 44 |
| Section 6.09. | *Direction of Proceedings and Waiver of Defaults by Majority of Holders* | 44 |
| Section 6.10. | *Notice of Defaults* | 45 |
| Section 6.11. | *Undertaking to Pay Costs* | 45 |
| ARTICLE 7 | ARTICLE 7 | ARTICLE 7 |
| CONCERNING THE TRUSTEE | CONCERNING THE TRUSTEE | CONCERNING THE TRUSTEE |
| Section 7.01. | *Duties and Responsibilities of Trustee* | 45 |
| Section 7.02. | *Rights of the Trustee* | 46 |
| Section 7.03. | *No Responsibility for Recitals, Etc* | 48 |
| Section 7.04. | *Trustee, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes* | 49 |
| Section 7.05. | *Monies to Be Held in Trust* | 49 |
| Section 7.06. | *Compensation and Expenses of Trustee* | 49 |
| Section 7.07. | *Reserved* | 50 |
| Section 7.08. | *Eligibility of Trustee* | 50 |
| Section 7.09. | *Resignation or Removal of Trustee* | 50 |
| Section 7.10. | *Acceptance by Successor Trustee* | 51 |
| Section 7.11. | *Succession by Merger, Etc* | 51 |
| ARTICLE 8 | ARTICLE 8 | ARTICLE 8 |
| CONCERNING THE HOLDERS | CONCERNING THE HOLDERS | CONCERNING THE HOLDERS |
| Section 8.01. | *Action by Holders* | 52 |
| Section 8.02. | *Proof of Execution by Holders* | 52 |
| Section 8.03. | *Who Are Deemed Absolute Owners* | 52 |
| Section 8.04. | *Company-Owned Notes Disregarded* | 53 |
| Section 8.05. | *Revocation of Consents; Future Holders Bound* | 53 |
| ARTICLE 9 | ARTICLE 9 | ARTICLE 9 |
| HOLDERS' MEETINGS | HOLDERS' MEETINGS | HOLDERS' MEETINGS |
| Section 9.01. | *Purpose of Meetings* | 53 |
| Section 9.02. | *Call of Meetings by Trustee* | 53 |
| Section 9.03. | *Call of Meetings by Company or Holders* | 54 |
| Section 9.04. | *Qualifications for Voting* | 54 |
| Section 9.05. | *Regulations* | 54 |
| Section 9.06. | *Voting* | 55 |
| Section 9.07. | *No Delay of Rights by Meeting* | 55 |

---

-ii-

---

| | | |
|:---|:---|:---|
| ARTICLE 10 | ARTICLE 10 | ARTICLE 10 |
| SUPPLEMENTAL INDENTURES | SUPPLEMENTAL INDENTURES | SUPPLEMENTAL INDENTURES |
| Section 10.01. | *Supplemental Indentures Without Consent of Holders* | 55 |
| Section 10.02. | *Supplemental Indentures - with Consent of Holders* | 56 |
| Section 10.03. | *Effect of Supplemental Indentures* | 57 |
| Section 10.04. | *Notation on Notes* | 57 |
| Section 10.05. | *Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee* | 57 |
| ARTICLE 11 | ARTICLE 11 | ARTICLE 11 |
| CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE | CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE | CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE |
| Section 11.01. | *Company May Consolidate, Etc* | 58 |
| Section 11.02. | *Successor Corporation to Be Substituted* | 58 |
| Section 11.03. | *Officer's Certificate and Opinion of Counsel to Be Given to Trustee* | 59 |
| ARTICLE 12 | ARTICLE 12 | ARTICLE 12 |
| IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS | IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS | IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS |
| Section 12.01. | *Indenture and Notes Solely Corporate Obligations* | 59 |
| ARTICLE 13 | ARTICLE 13 | ARTICLE 13 |
| [INTENTIONALLY OMITTED] | [INTENTIONALLY OMITTED] | [INTENTIONALLY OMITTED] |
| ARTICLE 14 | ARTICLE 14 | ARTICLE 14 |
| CONVERSION OF NOTES | CONVERSION OF NOTES | CONVERSION OF NOTES |
| Section 14.01. | *Conversion Privilege* | 59 |
| Section 14.02. | *Conversion Procedure; Settlement Upon Conversion* | 62 |
| Section 14.03. | *Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection - with Make-Whole Fundamental Changes or During a Redemption Period* | 67 |
| Section 14.04. | *Adjustment of Conversion Rate* | 69 |
| Section 14.05. | *Adjustments of Prices* | 76 |
| Section 14.06. | *Shares to Be Fully Paid* | 76 |
| Section 14.07. | *Effect of Recapitalizations, Reclassifications and Changes of the Common Stock* | 77 |
| Section 14.08. | *Certain Covenants* | 78 |
| Section 14.09. | *Responsibility of Trustee* | 79 |
| Section 14.10. | *Notice to Holders Prior to Certain Actions* | 79 |
| Section 14.11. | *Stockholder Rights Plans* | 80 |
| Section 14.12. | *Exchange in Lieu of Conversion* | 80 |
| Section 14.13. | *Beneficial Ownership Limitations* | 81 |

---

-iii-

---

| | | |
|:---|:---|:---|
| ARTICLE 15 | ARTICLE 15 | ARTICLE 15 |
| REPURCHASE OF NOTES AT OPTION OF HOLDERS | REPURCHASE OF NOTES AT OPTION OF HOLDERS | REPURCHASE OF NOTES AT OPTION OF HOLDERS |
| Section 15.01. | [*Intentionally Omitted*], | 82 |
| Section 15.02. | *Repurchase at Option of Holders Upon a Fundamental Change* | 82 |
| Section 15.03. | *Withdrawal of Fundamental Change Repurchase Notice* | 85 |
| Section 15.04. | *Deposit of Fundamental Change Repurchase Price* | 85 |
| Section 15.05. | *Covenant to Comply - with Applicable Laws Upon Repurchase of Notes* | 86 |
| ARTICLE 16 | ARTICLE 16 | ARTICLE 16 |
| OPTIONAL REDEMPTION | OPTIONAL REDEMPTION | OPTIONAL REDEMPTION |
| Section 16.01. | *Melinta Acquisition Redemption* | 86 |
| Section 16.02. | *Optional Redemption* | 87 |
| Section 16.03. | *Notice of Optional Redemption; Selection of Notes* | 87 |
| Section 16.04. | *Payment of Notes Called for Redemption* | 88 |
| Section 16.05. | *Restrictions on Redemption* | 89 |
| ARTICLE 17 | ARTICLE 17 | ARTICLE 17 |
| MISCELLANEOUS PROVISIONS | MISCELLANEOUS PROVISIONS | MISCELLANEOUS PROVISIONS |
| Section 17.01. | *Provisions Binding on Company's Successors* | 89 |
| Section 17.02. | *Official Acts by Successor Corporation* | 89 |
| Section 17.03. | *Addresses for Notices, Etc* | 89 |
| Section 17.04. | *Governing Law; Jurisdiction* | 90 |
| Section 17.05. | *Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee* | 90 |
| Section 17.06. | *Legal Holidays* | 91 |
| Section 17.07. | *No Security Interest Created* | 91 |
| Section 17.08. | *Benefits of Indenture* | 91 |
| Section 17.09. | *Table of Contents, Headings, Etc* | 91 |
| Section 17.10. | *Authenticating Agent* | 91 |
| Section 17.11. | *Execution in Counterparts* | 92 |
| Section 17.12. | *Severability* | 92 |
| Section 17.13. | *Waiver of Jury Trial* | 92 |
| Section 17.14. | *Force Majeure* | 92 |
| Section 17.15. | *Calculations* | 93 |
| Section 17.16. | *USA PATRIOT Act* | 93 |
| Section 17.17. | *Tax Withholding* | 93 |
| Section 17.18. | *Electronic Communications* | 94 |
| Section 17.19. | *FATCA* | 94 |

---

---

| | | |
|:---|:---|:---|
| **EXHIBIT** | **EXHIBIT** | **EXHIBIT** |
| Exhibit A | Form of Note | A-1 |

---

-iv-

INDENTURE dated as of August [12], 2025 (the "**Agreement Date**") between CorMedix Inc., a Delaware corporation, as issuer (the "**Company**," as more fully set forth in Section 1.01) and U.S. Bank Trust Company, National Association, a national banking association, as trustee (the "**Trustee**," as more fully set forth in Section 1.01).

WITNESSETH:

WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issuance of its 4.00% Convertible Senior Notes due 2030 (the "**Notes**"), in an aggregate principal amount not to exceed $150,000,000, and in order to provide the terms and conditions upon which the Notes are to be authenticated, issued and delivered, the Company has duly authorized the execution and delivery of this Indenture; and

WHEREAS, the Form of Note, the certificate of authentication to be borne by each Note, the Form of Notice of Conversion, the Form of Fundamental Change Repurchase Notice and the Form of Assignment and Transfer to be borne by the Notes are to be substantially in the forms hereinafter provided; and

WHEREAS, all acts and things necessary to make the Notes, when executed by the Company and authenticated and delivered by the Trustee or a duly authorized authenticating agent, as provided in this Indenture, the valid, binding and legal obligations of the Company, and this Indenture the valid, binding and legal agreement of the Company and the Trustee, have been done and performed, and the execution of this Indenture and the issuance hereunder of the Notes have in all respects been duly authorized.

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

That in order to declare the terms and conditions upon which the Notes are, and are to be, authenticated, issued and delivered, and in consideration of the premises and of the purchase and acceptance of the Notes by the Holders thereof, the Company covenants and agrees with the Trustee for the equal and proportionate benefit of the respective Holders from time to time of the Notes (except as otherwise provided below), as follows:

ARTICLE 1<br> DEFINITIONS

Section 1.01. *Definitions.* The terms defined in this Section 1.01 (except as herein otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01. The words "herein," "hereof," "hereunder" and words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. The terms defined in this Article include the plural as well as the singular.

"**Accretive**" means any Acquisition that is, on a pro forma basis, accretive to the EBITDA of the Company and its Subsidiaries (as determined by the Company in good faith).

"**Acquisition**" means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, in (a) the acquisition of all or substantially all of the assets of a Person, or of a business or division of a Person, (b) the acquisition of in excess of fifty percent (50%) of the Stock of any Person or otherwise causing any Person to become a Subsidiary of the Borrower (or an acquisition that serves to increase the Stock of a Subsidiary owned by the Borrower or a Subsidiary of the Borrower), or (c) a merger or consolidation or any other combination with another Person.

"**Additional Interest**" means all amounts, if any, payable pursuant to Section 4.06(d), Section 4.06(e) and Section 6.03, as applicable.

"**Additional Shares**" shall have the meaning specified in Section 14.03.

"**Affiliate**" of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, "control," when used with respect to any specified Person means the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have meanings correlative to the foregoing. Notwithstanding anything to the contrary herein, the determination of whether one Person is an "**Affiliate**" of another Person for purposes of this Indenture shall be made based on the facts at the time such determination is made or required to be made, as the case may be, hereunder.

"**Agreement Date**" shall have the meaning specified in the first paragraph of this Indenture.

"**Applicable Laws**" means, with respect to any Person, the common law and any federal, state, local, foreign, multinational or international laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments, writs, injunctions, decrees (including administrative or judicial precedents or authorities) and the interpretation or administration thereof by, and other determinations, directives, requirements or requests of, any Governmental Authority, in each case whether or not having the force of law and that are applicable to or binding upon such Person or any of its property or Products or to which such Person or any of its property or Products is subject.

"**Applicable Procedures**" means, with respect to a Depositary, as to any matter at any time, the policies and procedures of such Depositary, if any, that are applicable to such matter at such time.

"**Attribution Parties**" shall have the meaning specified in Section 14.13(a).

"**Beneficial Ownership Limitations**" shall have the meaning specified in Section 14.13(d).

"**Bid Solicitation Agent**" means the Company or the Person appointed by the Company to solicit bids for the Trading Price of the Notes in accordance with Section 14.01 (b)(i). The Company shall initially act as the Bid Solicitation Agent.

"**Board of Directors**" means the board of directors of the Company or a committee of such board duly authorized to act for it hereunder.

"**Board Resolution**" means a copy of a resolution certified pursuant to an Officer's Certificate to have been duly adopted by the Board of Directors of the Company and to be in full force and effect on the date of such certification which has been delivered to the Trustee.

"**Business Day**" means any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed, except that, solely for purposes of Section 17.06, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be deemed not to be a Business Day.

"**Capital Lease**" means, with respect to any Person, any lease of or other arrangement conveying the right to use any property by such Person as lessee that has been or should be accounted for as a capital lease on a balance sheet of such Person prepared in accordance with GAAP; provided that all obligations of any Person that are or would have been treated as operating leases for purposes of GAAP prior to the issuance by the FASB on February 25, 2016 of an Accounting Standards Update (the "ASU") shall continue to be accounted for as operating leases for purposes of all financial definitions and calculations for purpose of this Indenture (whether or not such operating lease obligations were in effect on such date) notwithstanding the fact that such obligations are required in accordance with the ASU (on a prospective or retroactive basis or otherwise) to be treated as Capital Leases in the financial statements.

"**Capital Lease Obligations**" means, at any time, with respect to any Capital Lease, any lease entered into as part of any sale leaseback transaction of any Person or any synthetic lease, the amount of all obligations of such Person that is (or that would be, if such synthetic lease or other lease were accounted for as a Capital Lease) capitalized on a balance sheet of such Person prepared in accordance with GAAP.

"**Capital Stock**" means for any entity, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) stock issued by that entity; provided that debt securities that are convertible into or exchangeable for Capital Stock shall not constitute Capital Stock prior to their conversion or exchange, as the case may be.

"**Capped Combination Settlement**" means Combination Settlement where the Specified Dollar Amount is equal to the Capped Combination Settlement Cash Amount.

"**Capped Combination Settlement Cash Amount**" means, on any Trading Day during the relevant Observation Period, the greater of (x) $1,000 and (y) an amount equal to:

25 × (*DCV* - *DC* × *VWAP*)

where,

DCV = the Daily Conversion Value on such Trading Day;

DC = the Daily Share Cap on such Trading Day; and

VWAP = the Daily VWAP on such Trading Day.

"**Cash Settlement**" shall have the meaning specified in Section 14.02(a).

"**Clause A Distribution**" shall have the meaning specified in Section 14.04(c).

"**Clause B Distribution**" shall have the meaning specified in Section 14.04(c).

"**Clause C Distribution**" shall have the meaning specified in Section 14.04(c).

"**close of business**" means 5:00 p.m. (New York City time).

"**Combination Settlement**" shall have the meaning specified in Section 14.02(a).

"**Commission**" means the U.S. Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act or the Exchange Act, then the body performing such duties, as applicable, at such time.

"**Common Equity**" of any Person means Capital Stock of such Person that is generally entitled (a) to vote in the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that will control the management or policies of such Person.

"**Common Stock**" means the common stock of the Company, par value $0.001 per share, at the date of this Indenture, subject to Section 14.07.

"**Company**" shall have the meaning specified in the first paragraph of this Indenture, and subject to the provisions of Article 11, shall include its successors and assigns.

"**Company Order**" means a written order of the Company, signed on behalf of the Company by an Officer.

"**Contingent Payment Agreement**" means the contingent payment agreement to be entered into simultaneous with the Melinta Acquisition Closing Date, by and among Deerfield Private Design Fund IV, L.P., a Delaware limited partnership, Deerfield Private Design Fund III, L.P., the Company, Melinta Therapeutics, Inc., and Deerfield Private Design Fund IV, L.P., a Delaware limited partnership, solely in its capacity as representative, as amended, restated, supplemented or otherwise modified from time to time.

"**Conversion Agent**" shall have the meaning specified in Section 4.02.

"**Conversion Consideration**" shall have the meaning specified in Section 14.12.

"**Conversion Date**" shall have the meaning specified in Section 14.02(c).

"**Conversion Obligation**" shall have the meaning specified in Section 14.01(a).

"**Conversion Price**" means as of any time, $1,000, *divided by* the Conversion Rate as of such time.

"**Conversion Rate**" shall have the meaning specified in Section 14.01(a).

"**Corporate Event**" shall have the meaning specified in Section 14.01(b)(iii).

"**Corporate Trust Office**" means the designated office of the Trustee at which at any time this Indenture shall be administered, which office as of the date hereof is located at 60 Livingston Ave., Saint Paul, MN 55107, Attention: Brandon Bonfig (CorMedix Administrator), Email: [\*\*\*], or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the designated corporate trust office of any successor Trustee.

"**Credit Facilities**" means, one or more debt facilities, letter of credit facilities, commercial paper facilities or indentures or other agreements providing for revolving credit loans, term loans, debt securities (including related exchange notes and guarantees thereof), receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables), letters of credit or other extensions of credit or other Indebtedness, in each case, including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith and, in each case, as amended, extended, substituted, renewed, restated, supplemented or otherwise modified (in whole or in part, and without limitation as to amount, terms, conditions, covenants and other provisions) from time to time, and any agreement or instrument (and related documents) governing Indebtedness incurred to refinance or replace, in whole or in part, the borrowings and commitments then outstanding or permitted to be outstanding under such facilities or a successor facility, whether by the same or any other bank, institutional lender, purchaser, investor, trustee or agent or group thereof.

"**Custodian**" means the Trustee, as custodian for The Depository Trust Company, with respect to the Global Notes, or any successor entity thereto.

"**Daily Conversion Value**" means, for each of the 25 consecutive Trading Days during the Observation Period, l/ 25th of the product of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP for such Trading Day.

"**Daily Measurement Value**" means the Specified Dollar Amount (if any), *divided by* 25.

"**Daily Settlement Amount**," for each of the 25 consecutive Trading Days during the Observation Period, shall consist of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) cash in an amount equal to the lesser of (i) the Daily Measurement Value and (ii) the Daily Conversion Value on such Trading Day; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Daily Conversion Value on such Trading Day exceeds the Daily Measurement Value, a number of shares of Common Stock equal to (i) the difference between the Daily Conversion Value and the Daily Measurement Value, *divided by* (ii) the Daily VWAP for such Trading Day.

"**Daily Share Cap**" means an amount, rounded down to the nearest 1/10,000th of a share, equal to:

![](ex4-1_001.jpg)

where,

AC = [●], which is equal to that portion of the Exchange Cap that may be issued pursuant to Section 14.02(l) upon conversion of the Notes prior to the receipt of Stockholder Approval or a conclusion as contemplated by Section 14.02(l) that such approval is not required; and

N = the Notional Aggregate Principal Amount.

"**Daily VWAP**" means, for any Trading Day, the per share volume-weighted average price as displayed under the heading "Bloomberg VWAP" on Bloomberg page "CRMD AQR" (or its equivalent successor if such page is not available) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of the Common Stock on such Trading Day determined, using a volume-weighted average method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). The "**Daily VWAP**" shall be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours.

"**Default**" means any event that is, or after notice or passage of time, or both, would be, an Event of Default.

**"Default Interest"** shall have the meaning specified in Section 2.03(c).

"**Default Settlement Method**" means, with respect to any conversion of Notes, (i) if the Conversion Date for such conversion is before the date on which the Company has obtained Stockholder Approval to remove the Exchange Cap in accordance with Section 4.11, Capped Combination Settlement and (ii) in all other cases, Combination Settlement with a Specified Dollar Amount per $1,000 principal amount of Notes; provided that the then-applicable Default Settlement Method is subject to change in accordance with Section 14.02(a)(ii).

"**Defaulted Amounts**" means any amounts on any Note (including, without limitation, the Fundamental Change Repurchase Price, the Redemption Price, principal and interest) that are payable but are not punctually paid or duly provided for.

"**De-legending Deadline Date**" means, the 380th day after the last date of original issuance of the Notes; *provided* that if such 380th day is after a Regular Record Date and on or before the next Interest Payment Date, then the "De-legending Deadline Date" will instead be the second Business Day immediately after such Interest Payment Date.

"**delivered**" with respect to any notice to be delivered, given or mailed to a Holder pursuant to this Indenture, shall mean notice (x) given to the Depositary (or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance with accepted practices or Applicable Procedures (in the case of a Global Note) or (y) mailed to such Holder by first class mail, postage prepaid, at its address as it appears on the Note Register, in each case in accordance with Section 17.03. Notice so "delivered" shall be deemed to include any notice to be "mailed" or "given," as applicable, under this Indenture.

"**Depositary**" means, with respect to each Global Note, the Person specified in Section 2.05(c) as the Depositary with respect to such Notes, until a successor shall have been appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter, "**Depositary**" shall mean or include such successor.

"**Designated Exchange**" means The Nasdaq Global Select Market, The Nasdaq Global Market or the New York Stock Exchange (or any of their respective successors).

"**Disqualified Stock**" means any Stock which, by its terms (or by the terms of any security or other Stock into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition, (a) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is one year and one day following the Maturity Date (excluding any provisions requiring redemption upon a "change of control", asset sale or similar event so long as any such provisions are subject to the prior repayment in full in cash of the Notes), (b) is convertible into or exchangeable for (i) debt securities or (ii) any Stock referred to in (a) above, in each case, at any time on or prior to the date that is one year and one day following the Maturity Date at the time such Stock was issued, or (c) is entitled to receive scheduled dividends or distributions in cash prior to the date that is one year and one day following the Maturity Date.

"**Distributed Property**" shall have the meaning specified in Section 14.04(c).

"**EBITDA**" means, for any period, net income (or loss) for the applicable period of measurement of any Person and any applicable Subsidiaries (such Person and such Subsidiaries, collectively, the "<u>Subject Persons</u>") on a consolidated basis, determined in accordance with GAAP, without duplication of any item described below, to the extent taken into account in the calculation of net income (or loss) for such period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) less the income (or plus the loss) of any Person which is not a Subsidiary of a Subject Person, except to the extent of the amount of dividends or other distributions actually paid to the Subject Persons in cash or cash equivalents by such Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) except in connection with determining whether an Acquisition will qualify as Accretive, less the income (or plus the loss) of any Person accrued prior to the date it becomes a Subsidiary of a Subject Person or is merged into or consolidated with a Subject Person or that Person's assets are acquired by a Subject Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) less gains (or plus losses) from the disposition of assets or property not in the ordinary course of business of such Subject Persons, and related tax effects in accordance with GAAP,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) less any other extraordinary, unusual or non-recurring gains (or plus any other extraordinary, unusual or non-recurring losses) of such Subject Persons, and related tax effects, in accordance with GAAP (where "extraordinary" is as defined in GAAP prior to the effectiveness of Financial Accounting Standards Board ASU 2015-01),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) less income (or plus the loss) from the early extinguishment of Indebtedness, net of related tax effects,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) plus, without duplication, solely to the extent already taken into account in the calculation of net income (or loss) for such period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) depreciation and amortization,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Net Interest Expense,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) all Taxes on or measured by income, Taxes on profit or capital, including, without limitation, state and provincial franchise and similar taxes, and foreign withholding Taxes (excluding income tax refunds),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) (A) all losses, expense or charges in connection with a single or one-time event and (B) all extraordinary, unusual or non-recurring losses, expense or charges,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) all non-cash losses, expense or charges (or minus non-cash income or gain), including non-cash adjustments resulting from the application of purchase accounting, non-cash expenses arising from grants of Stock appreciation rights, Stock options, restricted Stock or restricted Stock units, non-cash impairment of good will and other long term intangible assets, unrealized non-cash losses (or minus unrealized non-cash gains) under Swap Contracts, unrealized non-cash losses (or minus unrealized non-cash gains) in such period due solely to fluctuations in currency values, but excluding any non-cash loss or non-cash charge (A) where there were cash losses or charges with respect to such losses or charges in past periods (B) that is an accrual of a reserve for a cash loss, charge, expenditure or payment to be made, or anticipated to be made, in a future period or there is a reasonable expectation that there will be cash losses or charges with respect to such losses or charges in future periods or (C) relating to a write-down, write off or reserve with respect to accounts receivable, inventory or current assets,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) (a) all fees, costs and expenses incurred in connection with the Melinta Acquisition and (b) any fees and expenses incurred, or any amortization thereof, in connection with any acquisition (other than the Melinta Acquisition), investment, disposition, issuance or repayment of indebtedness, issuance of equity interests, refinancing transaction or amendment, waiver, consent or modification of any debt or equity instrument (including this Indenture and the Notes), in each case, including any such transaction whether or not consummated or consummated on, after or prior to the date hereof and any such transaction undertaken but not completed, and any non-recurring charges or costs incurred as a result of any such transaction,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the effects of adjustments pursuant to GAAP resulting from purchase accounting in relation to any acquisition or similar investment, or the amortization or write-off of any amounts thereof, net of taxes, in each case, which do not represent a cash item in such period or any future period,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) losses (or minus gains) associated with the revaluation of earnouts, milestones or other similar contingent obligations incurred in connection with any acquisition or similar investment (including upfront, earnout or milestone payments),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) one-time non-recurring up-front and milestone payments payable under research and development licensing agreements, collaboration agreements or development agreements relating to uncommercialized product candidates, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) one-time non-recurring transaction fees, costs and expenses, integration, reorganization and restructuring costs and facility consolidation and closing costs incurred in connection with reorganizations, restructurings, investments (including, the incurrence of indebtedness in connection therewith) and dispositions.

Notwithstanding anything to the contrary in the Indenture, EBITDA shall be calculated to give effect to any asset sales, divestitures or other disposition at any time on or after the first day of the measurement period and prior to the date of determination, as if such asset sales, divestitures or other disposition had been effected on the first day of such measurement period

"**Effective Date**" shall have the meaning specified in Section 14.03(c), except that, as used in Section 14.04 and Section 14.05, "**Effective Date**" means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, reflecting the relevant share split or share combination, as applicable. For the avoidance of doubt, any alternative trading convention on the applicable exchange or market in respect of shares of the Common Stock under a separate ticker symbol of CUSIP number will not be considered "regular way" for this purpose.

"**Electronic Means**" means the following communications methods: e-mail, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its services hereunder.

"**Event of Default**" shall have the meaning specified in Section 6.01.

"**Exchange Act**" means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

"**Exchange Cap**" shall have the meaning specified in Section 14.02(l).

"**Exchange Election**" shall have the meaning specified in Section 14.12.

"**Ex-Dividend Date**" means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market. For the avoidance of doubt, any alternative trading convention on the applicable exchange or market in respect of shares of the Common Stock under a separate ticker symbol or CUSIP number will not be considered "regular way" for this purpose.

"**Expiration Date**" shall have the meaning specified in Section 14.04(e).

"**Fair Market Value**" means the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction not involving distress or necessity of either party, determined in good faith by the Company.

"**Form of Assignment and Transfer**" means the "Form of Assignment and Transfer" attached as Attachment 3 to the Form of Note attached hereto as Exhibit A.

"**Form of Fundamental Change Repurchase Notice**" means the "Form of Fundamental Change Repurchase Notice" attached as Attachment 2 to the Form of Note attached hereto as Exhibit A.

"**Form of Note**" means the "Form of Note" attached hereto as Exhibit A.

"**Form of Notice of Conversion**" means the "Form of Notice of Conversion" attached as Attachment 1 to the Form of Note attached hereto as Exhibit A.

"**Freely Tradable**" means, with respect to any Note, that such Note would be eligible to be offered, sold or otherwise transferred pursuant to Rule 144 or otherwise if held by a Person that is not an Affiliate of the Company, and that has not been an Affiliate of the Company during the immediately preceding three (3) months, without any requirements as to volume, manner of sale, availability of current public information or notice under the Securities Act (except that, during the six (6) month period beginning on, and including, the date that is six (6) months after the last original issue date of such Note, any such requirement as to the availability of current public information will be disregarded if the same is satisfied at that time); *provided, however*, that from and after the date that is one year after the last original issue date of such Note, such Note will not be "Freely Tradable" unless such Note (x) is identified by an "unrestricted" CUSIP or ISIN number; and (y) is not represented by any certificate that bears the Restricted Legend. For the avoidance of doubt, whether a Note is deemed to be identified by a "restricted" CUSIP or ISIN number or to bear the Restricted Legend is subject to Section 2.05(c).

"**Fundamental Change**" shall be deemed to have occurred at the time after the Notes are originally issued if any of the following occurs:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a "person" or "group" within the meaning of Section 13(d) of the Exchange Act, other than the Company, its Wholly Owned Subsidiaries and the employee benefit plans of the Company and its Wholly Owned Subsidiaries, becomes the direct or indirect "beneficial owner," as defined in Rule 13d-3 under the Exchange Act, of the Common Stock representing more than 50% of the voting power of the Common Stock and files a Schedule TO, Schedule 13G or Schedule 13D (or, in each case, any successor schedule, form or report) or any schedule, form or report under the Exchange Act disclosing such fact; provided that no "person" or "group" shall be deemed to be the beneficial owner of any securities tendered pursuant to a tender or exchange offer made by or on behalf of such "person" or "group" until such tendered securities are accepted for purchase or exchange under such offer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the consummation of (A) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a subdivision, combination or a change in par value) as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets; (B) any share exchange, consolidation or merger of the Company pursuant to which the Common Stock will be converted into or exchanged for cash, securities or other property or assets; or (C) any sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company and its Subsidiaries, taken as a whole, to any Person other than one or more of the Company's Wholly Owned Subsidiaries; *provided*, *however*, that a transaction described in clause (A) or (B) in which the holders of all classes of the Company's Common Equity immediately prior to such transaction own, directly or indirectly, more than 50% of all classes of Common Equity of the continuing or surviving corporation or transferee or the parent thereof immediately after such transaction in substantially the same proportions (relative to each other) as such ownership immediately prior to such transaction shall not be a Fundamental Change pursuant to this clause (b);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company's stockholders approve any plan or proposal for the liquidation or dissolution of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Common Stock (or other Common Equity underlying the Notes) ceases to be listed on any Designated Exchange;

 

*provided*, *however*, that a transaction or transactions described in clause (b) above shall not constitute a Fundamental Change, if at least 90% of the consideration received or to be received by the common stockholders of the Company, excluding cash payments for fractional shares and cash payments made in respect of dissenters' appraisal rights, in connection with such transaction or transactions consists of shares of common stock that are listed on any Designated Exchange or will be so listed when issued or exchanged in connection with such transaction or transactions and as a result of such transaction or transactions such consideration becomes Reference Property for the Notes, excluding cash payments for fractional shares and cash payments made in respect of dissenters' appraisal rights (subject to the provisions of Section 14.02). Any event, transaction or series of related transactions that constitute a Fundamental Change under both clause (a) and clause (b) above (determined without regard to the proviso in clause (b) above) shall be deemed to be a Fundamental Change solely under clause (b) above (subject to the proviso to clause (b)). If any transaction in which the Common Stock is replaced by the securities of another entity occurs, following completion of any related Make-Whole Fundamental Change Period (or, in the case of a transaction that would have been a Fundamental Change or a Make-Whole Fundamental Change but for the proviso immediately following clause (d) of this definition, following the effective date of such transaction), references to the Company in this definition shall instead be references to such other entity. For the avoidance of doubt, the Melinta Acquisition closing shall not be deemed to be a Fundamental Change.

"**Fundamental Change Company Notice**" shall have the meaning specified in Section 15.02(c).

"**Fundamental Change Repurchase Date**" shall have the meaning specified in Section 15.02(a).

"**Fundamental Change Repurchase Notice**" shall have the meaning specified in Section 15.02(b)(i).

"**Fundamental Change Repurchase Price**" shall have the meaning specified in Section 15.02(a).

"**GAAP**" means generally accepted accounting principles in the United States of America, as in effect from time to time.

"**General Beneficial Ownership Limitation**" shall have the meaning specified in Section 14.13(d).

"**Governmental Authority**" means any nation, sovereign, government, quasi-governmental agency, governmental department, ministry, cabinet, commission, board, bureau, agency, court, tribunal, regulatory authority, instrumentality, judicial, legislative, fiscal or administrative or public body or entity, whether domestic or foreign, federal, state, local or other political subdivision thereof, having jurisdiction over the matter or matters and Person or Persons in question or having the authority to exercise executive, legislative, taxing, judicial, regulatory or administrative functions of or pertaining to government, including any central bank, securities exchange, regulatory body, arbitrator, public sector entity, supra-national entity and any self-regulatory organization. The term "Governmental Authority" shall further include any institutional review board, ethics committee, data monitoring committee or other committee or Person with defined authority to oversee Regulatory Matters.

"**Global Note**" shall have the meaning specified in Section 2.05(b).

"**Holder**" means any Person in whose name at the time a particular Note is registered on the Note Register.

"**Holder Beneficial Ownership Limitation**" shall have the meaning specified in Section 14.13(d).

"**Indebtedness**" means the following with respect to any Person:

all indebtedness for borrowed money of such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the deferred purchase price of assets or services (other than trade payables entered into in the ordinary course of business and which are not more than 90 days past due) of such Person, including earn-outs, which in accordance with GAAP should be shown to be a liability on the balance sheet and have not been paid on or prior to the date due;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all guarantees of Indebtedness by such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the face amount of all letters of credit issued or acceptance facilities established for the account of such Person (or for which such Person is liable), including without duplication, all drafts drawn thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all Capital Lease Obligations of such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all indebtedness (including Indebtedness of other types covered by the other clauses of this definition) of such Person or another Person secured by any Lien on any assets or property of such Person, whether or not such indebtedness has been assumed or is recourse (with the amount thereof, in the case of any such indebtedness that has not been assumed by such Person, being measured as the lower of (y) fair market value of such assets or property and (z) the amount of the indebtedness secured);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) indebtedness created or arising under any conditional sale or title retention agreement, or incurred as financing, in either case with respect to assets or property acquired by such Person (even if the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such assets or property);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) all obligations of such Person evidenced by notes, bonds, debentures or similar instruments, including obligations so evidenced incurred in connection with the acquisition of property, assets or businesses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock (excluding accrued dividends that have not increased the liquidation preference of such Disqualified Stock);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) all direct or indirect liability, contingent or otherwise, of such Person with respect to any Indebtedness of another Person if the primary purpose or intent of the Person incurring such liability, or the primary effect thereof, is to provide assurance to the obligee of such Indebtedness that such Indebtedness will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders of such Indebtedness will be protected (in whole or in part) against loss with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) all payments such Person would have to make in the event of an early termination under Swap Contracts (to the extent such amount can actually be calculated or determined with certainty at the time of any such determination, calculated on a net basis); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) all obligations of such Person in respect of Royalty Financings, the principal amount of which shall be equal to the greater of (i) the amount received under such Royalty Financing and (ii) the aggregate put price or other amount payable by such Person upon a put event or other termination of such Royalty Financing.

<u>provided</u> that, notwithstanding the foregoing, the term "Indebtedness" shall exclude (1) accrued expenses (including for payroll and other liabilities) except to the extent provided in clause (b) above, (2) intercompany liabilities arising in the ordinary course of business and with a term of less than 365 days (inclusive of any extensions thereof), (3) prepaid or deferred revenue arising in the ordinary course of business, or (4) purchase price holdbacks arising in the ordinary course of business in respect of a portion of the purchase prices of an asset to satisfy unperformed obligations of the seller of such asset.

"**Indenture**" means this instrument as originally executed or, if amended or supplemented as herein provided, as so amended or supplemented.

"**Initial Conversion Value**" means $[•] (which is the product of (i) [•] (which is the initial Conversion Rate) and (ii) $[•] (which is the average of the Daily VWAP on each of the three consecutive Trading Days beginning on, and including, the Trading Day immediately after the public announcement (in a manner sufficient to comply with Regulation FD) of the execution of the Merger Agreement and the Subscription Agreements, which shall be announced by the Company simultaneously)).

"**Interest Payment Date**" means each February 1 and August 1 of each year, beginning on February 1, 2026.

"**Last Reported Sale Price**" of the Common Stock (or other security for which a closing sale price must be determined) on any date means the closing sale price per share (or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that date as reported in composite transactions for the principal U.S. national or regional securities exchange on which the Common Stock (or such other security) is traded. If the Common Stock (or such other security) is not listed for trading on a U.S. national or regional securities exchange on the relevant date, the "**Last Reported Sale Price**" shall be the last quoted bid price per share for the Common Stock (or such other security) in the over-the-counter market on the relevant date as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock (or such other security) is not so quoted, the "**Last Reported Sale Price**" shall be the average of the mid-point of the last bid and ask prices per share for the Common Stock (or such other security) on the relevant date from each of at least three nationally recognized independent investment banking firms selected by the Company for this purpose. The "**Last Reported Sale Price**" shall be determined without regard to after-hours trading or any other trading outside of regular trading session hours.

"**Lien**" means, with respect to any asset, any mortgage, lien (statutory or otherwise), pledge, hypothecation, charge, security interest, preference, priority or similar encumbrance of any kind in respect of such asset, whether or not filed, recorded, registered, published or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction; *provided* that in no event shall an operating lease be deemed to constitute a Lien.

"**LTM EBITDA**" means EBITDA of the Company and its Subsidiaries measured for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which consolidated financial statements are available.

"**LTM Revenue**" means net revenue as determined in accordance with GAAP of the Target and its Subsidiaries measured for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination (being the closing date of the applicable Acquisition) for which consolidated financial statements are available. Notwithstanding anything to the contrary in the Indenture, LTM Revenue shall be calculated to give effect to any asset sales, divestitures or other disposition at any time on or after the first day of the measurement period and prior to the date of determination, as if such asset sales, divestitures or other disposition had been effected on the first day of such measurement period.

"**Make-Whole Fundamental Change**" means any transaction or event that constitutes a Fundamental Change (as defined above and determined after giving effect to any exceptions to or exclusions from such definition, but without regard to the *proviso* in clause (b) of the definition thereof).

"**Make-Whole Fundamental Change Period**" shall have the meaning specified in Section 14.03.

"**Market Disruption Event**" means, for the purposes of determining amounts due upon conversion (a) a failure by the primary U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for trading to open for trading during its regular trading session or (b) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common Stock for more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant stock exchange or otherwise) in the Common Stock or in any options contracts or futures contracts trading on any U.S. exchange relating to the Common Stock.

"**Maturity Date**" means August 1, 2030.

"**Measurement Period**" shall have the meaning specified in Section 14.01(b)(i).

"**Melinta Acquisition**" means the acquisition of Melinta Therapeutics, Inc. pursuant to the Merger Agreement.

"**Melinta Acquisition Closing Date**" means the date of the Melinta Acquisition, which date shall be disclosed on a Current Report on Form 8-K, to be filed by the Company announcing the completion of the Melinta Acquisition.

"**Melinta Acquisition Daily Redemption Value**" means, for each of the three consecutive Trading Days during the Melinta Acquisition Redemption Period, the product of (1) the Conversion Rate on such Trading Day and (2) the Daily VWAP on such Trading Day.

"**Melinta Acquisition Outside Date**" means the first Business Day occurring on or after the 90<sup>th</sup> day after the Agreement Date.

"**Melinta Acquisition Redemption**" shall have the meaning specified in Section 16.01.

"**Melinta Acquisition Redemption Conversion Value**" means, with respect to any Melinta Acquisition Redemption Date pursuant to Section 16.01, the arithmetic average of the Melinta Acquisition Daily Redemption Values for each of the three Trading Days in the Melinta Acquisition Redemption Period.

"**Melinta Acquisition Redemption Date**" means a Redemption Date to occur on the date that is five Trading Days after the Melinta Acquisition Termination Date.

"**Melinta Acquisition Redemption Period**" means, for purposes of determining any Melinta Acquisition Redemption Conversion Value pursuant to Section 16.01, the three consecutive Trading Days ending on, and including, the 2<sup>nd</sup> Trading Day (i.e., the 4<sup>th</sup>, 3<sup>rd</sup> and 2<sup>nd</sup> Trading Days) immediately preceding the Melinta Acquisition Redemption Date.

"**Melinta Acquisition Redemption Price**" means the redemption price paid in connection with the Melinta Acquisition, as set forth in Section 16.01.

"**Melinta Acquisition Termination Date**" means the later of (i) the date that the Company publicly announces (in a manner sufficient to comply with Regulation FD) that the Merger Agreement has been terminated or that the Melinta Acquisition will not otherwise be consummated and (ii) the Melinta Acquisition Outside Date if the Melinta Acquisition has not been consummated as of the open of business on such date.

"**Merger Agreement**" means that certain agreement and plan of merger, dated as of August [6], 2025, by and among the Company, Melinta Therapeutics, LLC, a Delaware limited liability company, Coriander BidCo LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company, and Deerfield Private Design Fund IV, L.P., a Delaware limited partnership, solely in its capacity as representative, agent and attorney-in-fact of the Melinta equityholders, as amended, restated, supplemented or otherwise modified from time to time.

"**Net Interest Expense**" means for the Subject Persons for any period, determined in accordance with GAAP: (a) gross interest expense (including that attributable to Capital Lease Obligations) for such period paid or required to be paid in cash (including all commissions, discounts, fees and other charges in connection with letters of credit and similar instruments and net amounts paid or payable and/or received or receivable under permitted Swap Contracts in respect of interest rates) for the Company and its Subsidiaries on a consolidated basis, less (b) interest income for such period.

"**Note**" or "**Notes**" shall have the meaning specified in the first paragraph of the recitals of this Indenture.

"**Note Register**" shall have the meaning specified in Section 2.05(a).

"**Note Registrar**" shall have the meaning specified in Section 2.05(a).

"**Notice of Conversion**" shall have the meaning specified in Section 14.02(b).

"**Notional Aggregate Principal Amount**" means $150,000,000.

"**Observation Period**" with respect to any Note surrendered for conversion means: (i) subject to clause (ii), if the relevant Conversion Date occurs prior to May 1, 2030, the twenty-five (25) consecutive Trading Day period beginning on, and including, the second Trading Day immediately succeeding such Conversion Date; (ii) with respect to any Notes called for redemption (or deemed called for redemption as described in Section 14.01(b)(v), if the relevant Conversion Date with respect to such Notes occurs during the related Redemption Period, the twenty-five (25) consecutive Trading Days beginning on, and including, the twenty-sixth (26<sup>th</sup>) Scheduled Trading Day immediately preceding such Redemption Date and (iii) subject to clause (ii), if the relevant Conversion Date occurs on or after May 1, 2030, the twenty-five (25) consecutive Trading Days beginning on, and including, the twenty-sixth(26<sup>th</sup>) Scheduled Trading Day immediately preceding the Maturity Date.

"**Officer**" means, with respect to the Company, the President, the Chief Executive Officer, the Chief Financial Officer, the Chief Accounting Officer, the Chief Legal Officer, the Treasurer, the Secretary, any assistant Secretary or any Executive Vice President.

"**Officer's Certificate**," when used with respect to the Company, means a certificate that is delivered to the Trustee and that is signed on behalf of the Company by an Officer of the Company that meets the requirements of Section 17.05.

"**open of business**" means 9:00 a.m. (New York City time).

"**Opinion of Counsel**" means an opinion in writing signed by legal counsel, who may be an employee of or counsel to the Company or other counsel, that is delivered to the Trustee. Each such opinion shall include the statements provided for in Section 17.05 if and to the extent required by the provisions of such Section 17.05.

"**Optional Redemption**" shall have the meaning specified in Section 16.02.

"**outstanding**," when used with reference to Notes, shall, subject to the provisions of Section 8.04, mean, as of any particular time, all Notes authenticated and delivered by the Trustee under this Indenture, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notes theretofore canceled by the Trustee or accepted by the Trustee for cancellation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notes, or portions thereof, that have become due and payable and in respect of which monies in the necessary amount shall have been deposited in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notes that have been paid pursuant to Section 2.06 or Notes in lieu of which, or in substitution for which, other Notes shall have been authenticated and delivered pursuant to the terms of Section 2.06 unless proof satisfactory to the Trustee is presented that any such Notes are held by protected purchasers in due course;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notes converted pursuant to Article 14 and required to be cancelled pursuant to Section 2.08;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notes redeemed pursuant to Article 16; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Notes repurchased by the Company pursuant to the last sentence of Section 2.10 after the Company surrenders them to the Trustee for cancellation in accordance with Section 2.08.

"**Partial Redemption Limitation**" shall have the meaning specified in Section 16.03(d).

"**Paying Agent**" shall have the meaning specified in Section 4.02.

"**Permitted Indebtedness**" means each of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Indebtedness (including, to avoid doubt, the Notes) in an aggregate principal amount at any time outstanding not to exceed the greater of (x) $300.0 million and (y) 250% of LTM EBITDA for the latest period ending on or prior to December 31, 2026 for which financial statements are available (or, for the latest period ending after December 31, 2026, 275% of LTM EBITDA for which financial statements are available); provided that in no event shall the aggregate principal amount of Indebtedness senior (whether by ranking or in right of payment) to the Notes (including any Indebtedness that is secured by any assets of the Company or any of its Subsidiaries) exceed the sum of (A) $50.0 million, plus (B) if such Indebtedness (other than the Notes) is used to finance an Acquisition, 125% of LTM Revenue of the Target and its Subsidiaries; provided that with respect to this clause (B), such Acquisition is Accretive at any point within 12 months following the consummation of such Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Indebtedness not to exceed $100,000 in the aggregate at any time outstanding, consisting of Capital Lease Obligations or secured by Liens on any assets or property acquired or held by the Company or any Subsidiary securing Indebtedness incurred or assumed for the purpose of financing (or refinancing) all or any part of the cost of acquiring such assets or property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Indebtedness in respect of netting services, overdraft protections and other similar and customary services in connection with deposit accounts incurred in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Indebtedness to employees in respect of benefit plans and employment and severance arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Indebtedness arising under guaranties made in the ordinary course of business of obligations of the Company that are otherwise permitted hereunder; provided that if such obligation is subordinated to the Notes, such guaranty shall be subordinated to the same extent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Indebtedness owed by the Company to one of its Subsidiaries so long as such Indebtedness is unsecured and subordinated to the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Indebtedness arising with respect to customary indemnification obligations and purchase price adjustments in favor of sellers in connection with Acquisitions by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) endorsements for collection or deposit in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Indebtedness consisting of the financing of insurance premiums in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Indebtedness constituting indemnification obligations, earn-outs, milestones, royalties, adjustment of purchase or acquisition price or similar obligations, in each case, incurred or assumed in connection with a commercial or license agreement, any investment or the disposition of any business, assets or Subsidiaries not prohibited by this Indenture, other than, in each case, any Royalty Financing or any factoring of receivables;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) obligations (contingent or otherwise) existing or arising under any Swap Contract, including any payments in connection with the termination of any Swap Contract, provided that such Obligations are (or were) entered into by such Person for the purpose of directly mitigating risks associated with fluctuations in interest rates or foreign exchange rates and not for speculative purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) customer deposits and advance payments received in the ordinary course of business from customers for goods purchased in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Indebtedness incurred in connection with bankers' acceptances, discounted bills of exchange, warehouse receipts or similar facilities, in each case incurred or undertaken in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) guarantees incurred in the ordinary course of business in respect of obligations to suppliers, customers, franchisees, lessors, licensees, sub-licensees and distribution partners; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Indebtedness consisting of (i) deferred compensation or equity based compensation to current or former officers, directors, consultants, advisors or employees thereof, in each case in the ordinary course of business or (ii) Taxes to the extent such Taxes are being contested in good faith and for which adequate reserves have been maintained in accordance with GAAP.

In the event that an item of Indebtedness meets the criteria of more than one of the categories of Permitted Indebtedness, the Company may, in its sole discretion, classify, reclassify or divide such item of Indebtedness (or any portion thereof) and will only be required to include the amount and type of such Indebtedness in one of the above clauses.

"**Person**" means an individual, a corporation, a limited liability company, an association, a partnership, a joint venture, a joint stock company, a trust, an unincorporated organization or a government or an agency or a political subdivision thereof.

"**Physical Notes**" means permanent certificated Notes in registered form issued in denominations of $1,000 principal amount and integral multiples thereof.

"**Physical Settlement**" shall have the meaning specified in Section 14.02(a).

"**Predecessor Note**" of any particular Note means every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 2.06 in lieu of or in exchange for a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note that it replaces.

"**Products**" means any item or any service that is designed, created, manufactured, managed, performed or otherwise used, offered or handled by or on behalf of the Company or any of its Subsidiaries.

"**Public Health Laws**" means all Applicable Laws relating to the procurement, development, manufacture, production, analysis, distribution, dispensing, importation, exportation, use, handling, quality, sale or promotion of any drug, medical device, food, dietary supplement or other product (including any ingredient or component of the foregoing products) subject to regulation under the Federal Food, Drug, and Cosmetic Act (21 U.S.C. et seq.) and similar state laws, controlled substances laws, pharmacy laws or consumer product safety laws.

"**Record Date**" means, with respect to any dividend, distribution or other transaction or event in which the holders of Common Stock (or other applicable security) have the right to receive any cash, securities or other property or in which the Common Stock (or such other security) is exchanged for or converted into any combination of cash, securities or other property, the date fixed for determination of holders of the Common Stock (or such other security) entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors, by statute, by contract or otherwise).

"**Redemption Date**" shall have the meaning specified in Section 16.03.

"**Redemption Notice**" shall have the meaning specified in Section 16.03.

"**Redemption Notice Date**" means the date on which the Company provides a Redemption Notice in accordance with Section 16.03.

"**Redemption Period**" shall have the meaning specified in Section 14.01(b)(v).

"**Redemption Price**" means, (i) for any Notes to be redeemed pursuant to Section 16.02, 100% of the principal amount of such Notes, plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date (unless the Redemption Date falls after a Regular Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case interest accrued to the Interest Payment Date will be paid by the Company to Holders of record of such Notes as of the close of business on such Regular Record Date, and the Redemption Price will be equal to 100% of the principal amount of such Notes) and (ii) for any Notes to be redeemed pursuant to Section 16.01, the Melinta Acquisition Redemption Price. The Trustee shall not be responsible for determining the Redemption Price. For the avoidance of doubt, any reference to the "Redemption Price" in this Indenture shall mean the Redemption Price payable pursuant to Section 16.02 and/or the Melinta Redemption Price payable pursuant to Section 16.01, as applicable.

"**Reference Property**" shall have the meaning specified in Section 14.07(a).

"**Regular Record Date**" with respect to any Interest Payment Date, means the January 15 or July 15 (whether or not such day is a Business Day) immediately preceding the applicable February 1 or August 1 Interest Payment Date, respectively.

"**Regulatory Matters**" means, collectively, activities and Products that are subject to Public Health Laws.

"**Reporting Event of Default**" shall have the meaning specified in Section 6.03.

"**Resale Restriction Termination Date**" shall have the meaning specified in Section 2.05(c).

"**Responsible Officer**" means, when used with respect to the Trustee, any officer within the Corporate Trust Office of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, who shall have direct responsibility for the administration of this Indenture or any other officer to whom any corporate trust matter relating to this Indenture is referred because of such person's knowledge of and familiarity with the particular subject.

"**Restricted Securities**" shall have the meaning specified in Section 2.05(c).

"**Restrictive Legend**" shall have the meaning specified in Section 2.05(c).

"**Royalty Financing**" means any sale of future revenues or synthetic royalty or other financing based on future revenues derived from, and other proceeds arising out of, any Products.

"**Rule 144**" means Rule 144 as promulgated under the Securities Act.

"**Rule 144A**" means Rule 144A as promulgated under the Securities Act.

"**Scheduled Trading Day**" means a day that is scheduled to be a Trading Day on the principal U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for trading. If the Common Stock is not so listed or admitted for trading, "Scheduled Trading Day" means a Business Day."**Securities Act**" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"**Settlement Amount**" has the meaning specified in Section 14.02(a)(iii).

"**Settlement Method**" means, with respect to any conversion of Notes, Physical Settlement, Cash Settlement or Combination Settlement, as elected (or deemed to have been elected) by the Company; provided that the Company shall not be permitted to elect Physical Settlement or Combination Settlement (other than Capped Combination Settlement) until after it has obtained Stockholder Approval to remove the Exchange Cap in accordance with Section 4.11.

"**Settlement Method Election Deadline**" has the meaning specified in Section 14.02(a)(i).

"**Settlement Notice**" has the meaning specified in Section 14.02(a)(i).

"**Share Exchange Event**" has the meaning specified in Section 14.07(a).

"**Significant Subsidiary**" means a Subsidiary of the Company that meets the definition of "significant subsidiary" in Article 1, Rule l-02(w) of Regulation S-X promulgated by the Commission (or any successor rule

"**Specified Dollar Amount**" means the maximum cash amount per $1,000 principal amount of Notes to be received upon conversion as specified in the Settlement Notice (or deemed specified as provided in Section 14.02(a)(i) or (ii)) related to any converted Notes.

"**Spin-Off**" shall have the meaning specified in Section 14.04(c).

"**Stock**" means (a) all shares of capital stock (whether denominated as common stock or preferred stock), equity interests, beneficial, partnership or membership interests, joint venture interests, participations or other ownership or profit interests in or equivalents (regardless of how designated) of or in a Person (other than an individual), whether voting or non-voting; and (b) all securities convertible into or exchangeable for any other Stock and all warrants, options or other rights to purchase, subscribe for or otherwise acquire any other Stock, whether or not presently convertible, exchangeable or exercisable. The term "Stock" shall not include any Notes hereunder.

"**Stock Price**" shall have the meaning specified in Section 14.03(c).

"**Stockholder Approval**" means such approval as may be required by the applicable rules and regulations of any Designated Exchange on which the Common Stock is listed or admitted for trading from the stockholders of the Company with respect to the transactions contemplated by this Indenture, the Merger Agreement, the Contingent Payment Agreement and any warrants that may be issued pursuant to the Merger Agreement and/or the Contingent Payment Agreement to issue shares of Common Stock in excess of the Exchange Cap (if applicable); *provided that*, for the avoidance of doubt, in accordance with the Designated Exchange, no shares of Common Stock issued or issuable upon conversion of the Notes, or issued or issuable pursuant to the Merger Agreement, the Contingent Payment Agreement and any warrants that may be issued pursuant to the Merger Agreement and/or the Contingent Payment Agreement, shall be entitled to participate in the vote for any Stockholder Approval.

"**Subscription Agreements**" means those certain Subscription Agreements, dated August 6, 2025, between the Company and the Investors party thereto.

"**Subsidiary**" means, with respect to any Person, any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of Capital Stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, general partners or trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such Person.

"**Successor Company**" shall have the meaning specified in Section 11.01(a).

"**Swap Contract**" means any agreement, contract or transaction that constitutes a "swap" within the meaning of Section 1a(47) of the Commodity Exchange Act.

"**Target**" means any other Person incorporated or organized under the laws of any state in the United States or the District of Columbia or any Subsidiary, business unit, product line, division or asset group of any such Person acquired or proposed to be acquired in an Acquisition.

"**Taxes**" means all present or future taxes, levies, imposts, stamp or other duties, deductions, charges or withholdings imposed by a Governmental Authority, together with any interest, additions to tax, penalties or other liabilities with respect thereto.

"**Trading Day**" means a day on which (i) trading in the Common Stock (or other security for which a closing sale price must be determined) generally occurs on The Nasdaq Global Market or, if the Common Stock (or such other security) is not then listed on The Nasdaq Global Market, on the principal other U.S. national or regional securities exchange on which the Common Stock (or such other security) is then listed or, if the Common Stock (or such other security) is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock (or such other security) is then traded and (ii) a Last Reported Sale Price for the Common Stock (or closing sale price for such other security) is available on such securities exchange or market; *provided* that if the Common Stock (or such other security) is not so listed or traded, "**Trading Day**" means a Business Day; and *provided*, *further*, that for purposes of determining amounts due upon conversion and the Melinta Acquisition Redemption only, "**Trading Day**" means a day on which (x) there is no Market Disruption Event and (y) trading in the Common Stock generally occurs on The Nasdaq Global Market or, if the Common Stock is not then listed on The Nasdaq Global Market, on the principal other U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then listed or admitted for trading, except that if the Common Stock is not so listed or admitted for trading, "**Trading Day**" means a Business Day.

"**Trading Price**" per $1,000 principal amount of the Notes on any date of determination means the average of the secondary market bid quotations obtained by the Bid Solicitation Agent for $2,000,000 principal amount of Notes at approximately 3:30 p.m., New York City time, on such determination date from three independent nationally recognized securities dealers the Company selects for this purpose; *provided* that if three such bids cannot reasonably be obtained by the Bid Solicitation Agent but two such bids are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $2,000,000 principal amount of Notes from a nationally recognized securities dealer on any determination date, then the Trading Price per $1,000 principal amount of Notes on such determination date shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate.

"**Trading Price Condition**" shall have the meaning specified in Section 14.01(b)(i).

"**transfer**" shall have the meaning specified in Section 2.05(c).

"**Trigger Event**" shall have the meaning specified in Section 14.04(c).

"**Trust Indenture Act**" means the Trust Indenture Act of 1939, as amended.

"**Trustee**" means the Person named as the "**Trustee**" in the first paragraph of this Indenture until a successor trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter "**Trustee**" shall mean or include each Person who is then a Trustee hereunder.

"**unit of Reference Property**" shall have the meaning specified in Section 14.07(a).

"**Valuation Period**" shall have the meaning specified in Section 14.04(c).

"**Wholly Owned Subsidiary**" means, with respect to any Person, any Subsidiary of such Person, except that, solely for purposes of this definition, the reference to "more than 50%" in the definition of "Subsidiary" shall be deemed replaced by a reference to "100%".

Section 1.02. *References to Interest.* Unless the context otherwise requires, any reference to interest on, or in respect of, any Note in this Indenture shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to any of Section 4.06(d), Section 4.06(e) and Section 6.03, or to such interest payable on any Defaulted Amounts as set forth in Section 2.03(c). Unless the context otherwise requires, any express mention of Additional Interest in any provision hereof shall not be construed as excluding Additional Interest in those provisions hereof where express mention is not made.

ARTICLE 2<br> ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES

Section 2.01. *Designation and Amount.* The Notes shall be designated as the "4.00% Convertible Senior Notes due 2030." The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is initially limited to $150,000,000, subject to Section 2.10 and except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of other Notes to the extent expressly permitted hereunder.

Section 2.02. *Form of Notes.* The Notes and the Trustee's certificate of authentication to be borne by such Notes shall be substantially in the respective forms set forth in Exhibit A, the terms and provisions of which shall constitute, and are hereby expressly incorporated in and made a part of this Indenture. To the extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. In the case of any conflict between this Indenture and a Note, the provisions of this Indenture shall control and govern to the extent of such conflict.

Any Global Note may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the provisions of this Indenture as may be required by the Custodian or the Depositary, or as may be required to comply with any applicable law or any regulation thereunder or with the rules and regulations of any securities exchange or automated quotation system upon which the Notes may be listed or traded or designated for issuance or to conform with any usage with respect thereto, or to indicate any special limitations or restrictions to which any particular Notes are subject.

Any of the Notes may have such letters, numbers or other marks of identification and such notations, legends or endorsements as the Officer executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, or to conform to usage or to indicate any special limitations or restrictions to which any particular Notes are subject.

Each Global Note shall represent such principal amount of the outstanding Notes as shall be specified therein and shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be increased or reduced to reflect redemptions, repurchases, cancellations, conversions, transfers or exchanges permitted hereby. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the amount of outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in such manner and upon instructions given by the Holder of such Notes in accordance with this Indenture. Payment of principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, and accrued and unpaid interest on, a Global Note shall be made to the Holder of such Note on the date of payment, unless a record date or other means of determining Holders eligible to receive payment is provided for herein.

Section 2.03. *Date and Denomination of Notes; Payments of Interest and Defaulted Amounts*. (a) The Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of the Notes. Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Person in whose name any Note (or its Predecessor Note) is registered on the Note Register at the close of business on any Regular Record Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date. The principal amount of any Note (x) in the case of any Physical Note, shall be payable at the office or agency of the Company maintained by the Company for such purposes in the United States, which shall initially be the Corporate Trust Office and (y) in the case of any Global Note, shall be payable by wire transfer of immediately available funds to the account of the Depositary or its nominee. The Company shall pay, or cause the Paying Agent to pay, interest, if any, (i) on any Physical Notes (A) to Holders holding Physical Notes having an aggregate principal amount of $5,000,000 or less, by check mailed to the Holders of these Notes at their address as it appears in the Note Register and (B) to Holders holding Physical Notes having an aggregate principal amount of more than $5,000,000, either by check mailed to each Holder or, upon written application by such a Holder to the Note Registrar not later than the relevant Regular Record Date, by wire transfer in immediately available funds to that Holder's account within the United States if such Holder has provided the Company, Trustee or Paying Agent (if other than the Trustee) with the requisite information necessary to make such wire transfer, which application shall remain in effect until the Holder notifies, in writing, the Note Registrar to the contrary or (ii) on any Global Note by wire transfer of immediately available funds to the account of the Depositary or its nominee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any Defaulted Amounts shall forthwith cease to be payable to the Holder on the relevant payment date but shall accrue interest per annum at the rate borne by the Notes (and such interest, "**Default Interest**"), subject to the enforceability thereof under applicable law, from, and including, such relevant payment date, and such Defaulted Amounts together with such Default Interest thereon shall be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company may elect to make payment of any Defaulted Amounts and Default Interest to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on a special record date for the payment of such Defaulted Amounts and Default Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of the Defaulted Amounts and Default Interest proposed to be paid on each Note and the date of the proposed payment (which shall be not less than 25 days after the receipt by the Trustee of such notice, unless the Trustee shall consent to an earlier date), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such Defaulted Amounts and Default Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Amounts as in this clause provided. Thereupon the Company shall fix a special record date for the payment of such Defaulted Amounts which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment, and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment (unless the Trustee shall consent to an earlier date). The Company shall promptly notify the Trustee in writing of such special record date and the Trustee, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Amounts and Default Interest and the special record date therefor to be delivered to each Holder at its address as it appears in the Note Register, or by Electronic Means to the Depositary in the case of Global Notes, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Amounts and Default Interest and the special record date therefor having been so delivered, such Defaulted Amounts and Default Interest shall be paid to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on such special record date and shall no longer be payable pursuant to the following clause (ii) of this Section 2.03(c). The Trustee shall have no responsibility whatsoever to determine the Defaulted Amounts or Defaulted Interest or with respect to the nature, extent, or calculation of the amount of Defaulted Amounts or Default Interest owed, or with respect to the method employed in such calculation of the Defaulted Amounts or Default Interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Company may make payment of any Defaulted Amounts and Default Interest in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, and upon such written notice as may be required by such exchange or automated quotation system, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.

Section 2.04. *Execution, Authentication and Delivery of Notes.* The Notes shall be signed in the name and on behalf of the Company by the manual, facsimile or electronic signature of one of its Officers.

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Notes executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, and the Trustee in accordance with such Company Order shall authenticate and deliver such Notes, without any further action by the Company hereunder; *provided* that the Trustee shall be entitled to receive an Officer's Certificate and an Opinion of Counsel of the Company with respect to the issuance, authentication and delivery of such Notes.

Only such Notes as shall bear thereon a certificate of authentication substantially in the form set forth on the Form of Note attached as Exhibit A hereto, executed manually by an authorized signatory officer of the Trustee (or an authenticating agent appointed by the Trustee as provided by Section 17.10), shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee (or such an authenticating agent) upon any Note executed by the Company shall be conclusive evidence that the Note so authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of this Indenture.

In case any Officer of the Company who shall have signed any of the Notes shall cease to be such Officer before the Notes so signed shall have been authenticated and delivered by the Trustee, such Notes nevertheless may be authenticated and delivered as though the person who signed such Notes had not ceased to be such Officer of the Company; and any Note may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Note, shall be the Officers of the Company, although at the date of the execution of this Indenture any such person was not such an Officer.

Section 2.05. *Exchange and Registration of Transfer of Notes; Restrictions on Transfer; Depositary.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall cause to be kept at the Corporate Trust Office a register (the register maintained in such office or in any other office or agency of the Company designated pursuant to Section 4.02, the "**Note Register**") in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Notes and of transfers of Notes. Such register shall be in written form or in any form capable of being converted into written form within a reasonable period of time. The Trustee is hereby initially appointed the "**Note Registrar**" for the purpose of registering Notes and transfers of Notes as herein provided. The Company may appoint one or more co-Note Registrars in accordance with Section 4.02.

Upon surrender for registration of transfer of any Note to the Note Registrar or any co-Note Registrar, and satisfaction of the requirements for such transfer set forth in this Section 2.05, the Company shall execute, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized denominations and of a like aggregate principal amount and bearing such legends as may be required by this Indenture.

Notes may be exchanged for other Notes of any authorized denominations and of a like aggregate principal amount, upon surrender of the Notes to be exchanged at any such office or agency maintained by the Company pursuant to Section 4.02. Whenever any Notes are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Notes that the Holder making the exchange is entitled to receive, bearing registration numbers not contemporaneously outstanding.

All Notes presented or surrendered for registration of transfer or for exchange, repurchase or conversion shall (if so required by the Company, the Trustee, the Note Registrar or any co-Note Registrar) be duly endorsed, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and the Note Registrar and duly executed, by the Holder thereof or its attorney-in-fact duly authorized in writing.

No service charge shall be imposed by the Company, the Trustee, the Note Registrar, any co-Note Registrar or the Paying Agent for any exchange or registration of transfer of Notes, but the Company or the Trustee may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar issue or transfer tax or other similar governmental charge required in connection therewith as a result of the name of the Holder of new Notes issued upon such exchange or registration of transfer being different from the name of the Holder of the old Notes surrendered for exchange or registration of transfer.

None of the Company, the Trustee, the Note Registrar or any co-Note Registrar shall be required to exchange or register a transfer of (i) any Notes surrendered for conversion or, if a portion of any Note is surrendered for conversion, such portion thereof surrendered for conversion, (ii) any Notes, or a portion of any Note, surrendered for repurchase (and not withdrawn) in accordance with Article 15 or (iii) any Notes selected for redemption in accordance with Article 16, except the unredeemed portion of any Note being redeemed in part.

All Notes issued upon any registration of transfer or exchange of Notes in accordance with this Indenture shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture as the Notes surrendered upon such registration of transfer or exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) So long as the Notes are eligible for book-entry settlement with the Depositary, unless otherwise required by law, subject to the seventh paragraph from the end of Section 2.05(c) all Notes shall be represented by one or more Notes in global form (each, a "**Global Note**") registered in the name of the Depositary or the nominee of the Depositary. The transfer and exchange of beneficial interests in a Global Note that does not involve the issuance of a Physical Note shall be effected through the Depositary (but not the Trustee or the Custodian) in accordance with this Indenture (including the restrictions on transfer set forth herein) and the Applicable Procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Every Note that bears or is required under this Section 2.05(c) to bear the legend set forth in this Section 2.05(c) (together with any Common Stock issued upon conversion of the Notes that is required to bear the legend set forth in Section 2.05(d), collectively, the "**Restricted Securities**") shall be subject to the restrictions on transfer set forth in this Section 2.05(c) (including the legend set forth below), unless such restrictions on transfer shall be eliminated or otherwise waived by written consent of the Company, and the Holder of each such Restricted Security, by such Holder's acceptance thereof, agrees to be bound by all such restrictions on transfer. As used in this Section 2.05(c) and Section 2.05(d), the term "**transfer**" encompasses any sale, pledge, transfer or other disposition whatsoever of any Restricted Security.

Until the date (the "**Resale Restriction Termination Date**") that is one year after the last date of original issuance of the Notes, or such shorter period of time as permitted by Rule 144 or any successor provision thereto, any certificate evidencing such Note (and all securities issued in exchange therefor or substitution thereof, other than Common Stock, if any, issued upon conversion thereof, which shall bear the legend set forth in Section 2.05(d), if applicable) shall bear a legend in substantially the following form (the "**Restrictive Legend**") (unless such Notes have been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer, or sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company in writing, with notice thereof to the Trustee):

THIS SECURITY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**SECURITIES ACT**"), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A "QUALIFIED INSTITUTIONAL BUYER" (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) AGREES FOR THE BENEFIT OF CORMEDIX INC. (THE "**COMPANY**") THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, OR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) TO A PERSON REASONABLY BELIEVED TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER FOR THE COMPANY TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY DURING THE THREE IMMEDIATELY PRECEDING MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR OWN THIS SECURITY OR A BENEFICIAL INTEREST HEREIN.

No transfer of any Note prior to the Resale Restriction Termination Date will be registered by the Note Registrar unless the applicable box on the Form of Assignment and Transfer has been checked.

Any Note (or security issued in exchange or substitution therefor) (i) as to which such restrictions on transfer shall have expired in accordance with their terms, (ii) that has been transferred pursuant to a registration statement that has become effective or been declared effective under the Securities Act and that continues to be effective at the time of such transfer or (iii) that has been sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, may, upon surrender of such Note for exchange to the Note Registrar in accordance with the provisions of this Section 2.05, be exchanged for a new Note or Notes, of like tenor and aggregate principal amount, which shall not bear the Restrictive Legend required by this Section 2.05(c) and shall not be assigned a restricted CUSIP number. The Restrictive Legend set forth above and affixed on any Note will be deemed, in accordance with the terms of the certificate representing such Note, to be removed therefrom upon the Company's delivery to the Trustee of written notice to such effect, without further action by the Company, the Trustee, the Holder(s) thereof or any other Person; at such time, such Note will be deemed to be assigned an unrestricted CUSIP number as provided in the certificate representing such Note; provided, however, that if such Note is a Global Note and the Depositary requires a mandatory exchange or other process to cause such Global Note to be identified by an "unrestricted" CUSIP number in the facilities of such Depositary, then (x) the Company will effect such exchange or procedure as soon as reasonably practicable and (y) for purposes of Section 4.06 and the definition of Freely Tradeable, such Global Note will not be deemed to be identified by an "unrestricted" CUSIP number until such time as such exchange or process is effected. Without limiting the generality of any other provision of this Indenture, the Trustee will be entitled to receive an instruction letter from the Company before taking any action with respect to effecting any such mandatory exchange or other process.

The Company shall be entitled to instruct the Custodian in writing to so surrender any Global Note as to which any of the conditions set forth in clause (i) through (iii) of the immediately preceding paragraph have been satisfied, and, upon such instruction, the Custodian shall so surrender such Global Note for exchange; and any new Global Note so exchanged therefor shall not bear the Restrictive Legend specified in this Section 2.05(c) and shall not be assigned a restricted CUSIP number. The Company shall promptly notify the Trustee in writing upon the occurrence of the Resale Restriction Termination Date and promptly after a registration statement, if any, with respect to the Notes or any Common Stock issued upon conversion of the Notes has been declared effective under the Securities Act. Any exchange pursuant to the foregoing paragraph shall be in accordance with the Applicable Procedures.

Notwithstanding any other provisions of this Indenture (other than the provisions set forth in this Section 2.05(c)), a Global Note may not be transferred as a whole or in part except (i) by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary and (ii) for exchange of a Global Note or a portion thereof for one or more Physical Notes in accordance with the second immediately succeeding paragraph.

The Depositary shall be a clearing agency registered under the Exchange Act. The Company initially appoints The Depository Trust Company to act as Depositary with respect to each Global Note. Initially, each Global Note shall be issued to the Depositary, registered in the name of Cede & Co., as the nominee of the Depositary, and deposited with the Trustee as custodian for Cede & Co.

If (i) the Depositary notifies the Company at any time that the Depositary is unwilling or unable to continue as depositary for the Global Notes and a successor depositary is not appointed within 90 days, (ii) the Depositary ceases to be registered as a clearing agency under the Exchange Act and a successor depositary is not appointed within 90 days or (iii) an Event of Default with respect to the Notes has occurred and is continuing and, subject to the Applicable Procedures, a beneficial owner of any Note requests that its beneficial interest therein be issued as a Physical Note, the Company shall execute, and the Trustee, upon receipt of an Officer's Certificate, an Opinion of Counsel and a Company Order for the authentication and delivery of Notes, shall authenticate and deliver (x) in the case of clause (iii), a Physical Note to such beneficial owner in a principal amount equal to the principal amount of such Note corresponding to such beneficial owner's beneficial interest and (y) in the case of clause (i) or (ii), Physical Notes to each beneficial owner of the related Global Notes (or a portion thereof) in an aggregate principal amount equal to the aggregate principal amount of such Global Notes in exchange for such Global Notes, and upon delivery of the Global Notes to the Trustee such Global Notes shall be canceled.

Physical Notes issued in exchange for all or a part of the Global Note pursuant to this Section 2.05(c) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, or, in the case of clause (iii) of the immediately preceding paragraph, the relevant beneficial owner, shall instruct the Trustee in writing. Upon execution and authentication, the Trustee shall deliver such Physical Notes to the Persons in whose names such Physical Notes are so registered.

At such time as all interests in a Global Note have been converted, canceled, repurchased, redeemed or transferred, such Global Note shall be, upon receipt thereof, canceled by the Trustee in accordance with standing procedures and existing instructions between the Depositary and the Custodian. At any time prior to such cancellation, if any interest in a Global Note is exchanged for Physical Notes, converted, canceled, repurchased, redeemed or transferred to a transferee who receives Physical Notes therefor or any Physical Note is exchanged or transferred for part of such Global Note, the principal amount of such Global Note shall, in accordance with the standing procedures and instructions existing between the Depositary and the Custodian, be appropriately reduced or increased, as the case may be, and an endorsement shall be made on such Global Note, by the Trustee or the Custodian, at the direction of the Trustee, to reflect such reduction or increase.

In connection with any proposed transfer involving Physical Notes, or any exchange of Global Notes for Physical Notes, the Company shall use commercially reasonable efforts to provide or cause to be provided to the Trustee all information reasonably requested by the Trustee from the Company that is both reasonably available to the Company and necessary, as reasonably determined by the Trustee, to allow the Trustee to comply with any applicable cost basis reporting obligation under Internal Revenue Code Section 6045. The Trustee may rely on information provided to it by Holders and the Company and shall have no responsibility to verify or ensure the accuracy of such information.

None of the Company, the Trustee (including in its capacity as Paying Agent) or any agent of the Company or the Trustee shall have any responsibility or liability for the payment of amounts to owners of beneficial interest in a Global Note, for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Note or maintaining, supervising or reviewing any records relating to such beneficial ownership interests.

Neither the Company nor the Trustee shall have any responsibility or liability for any act or omission of the Depositary. All notices and communications to be given to the Holders and all payments to be made to Holders in respect of the Notes shall be given or made only to, or upon the order of, the registered Holder(s) (which shall be the Depositary or its nominee in the case of a Global Note).

Except as otherwise set forth in this Indenture or in the applicable Note, the Trustee may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Until the Resale Restriction Termination Date, any stock certificate representing Common Stock issued upon conversion of a Note shall bear a legend in substantially the following form (unless such Common Stock has been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer, or pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or such Common Stock has been issued upon conversion of a Note that has been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer, or pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company with written notice thereof to the Trustee and any transfer agent for the Common Stock):

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**SECURITIES ACT**"), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A "QUALIFIED INSTITUTIONAL BUYER" (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) AGREES FOR THE BENEFIT OF CORMEDIX INC. (THE "**COMPANY**") THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE OF THE SERIES OF NOTES UPON THE CONVERSION OF WHICH THIS SECURITY WAS ISSUED OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, OR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) TO A PERSON REASONABLY BELIEVED TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRANSFER AGENT FOR THE COMPANY'S COMMON STOCK RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER FOR THE COMPANY TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

Any such Common Stock (i) as to which such restrictions on transfer shall have expired in accordance with their terms, (ii) that has been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer or (iii) that has been sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, may, upon surrender of the certificates representing such shares of Common Stock for exchange in accordance with the procedures of the transfer agent for the Common Stock, be exchanged for a new certificate or certificates for a like aggregate number of shares of Common Stock, which shall not bear the restrictive legend required by this Section 2.05(d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Any Note that is owned by any Affiliate of the Company (or any Person who was an Affiliate of the Company at any time during the three months immediately preceding) may not be resold by such Affiliate (or such Person, as the case may be) unless registered under the Securities Act or resold pursuant to an exemption from the registration requirements of the Securities Act in a transaction that results in such Note no longer being a "restricted security" (as defined under Rule 144).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Notwithstanding anything contained herein to the contrary, neither the Trustee nor the Note Registrar shall be responsible for ascertaining whether any transfer complies with the registration provisions of, or exemptions from, the Securities Act, applicable state securities laws or other applicable law or this Indenture; nor shall either have an obligation to monitor or determine compliance with any restrictions on transfer imposed hereunder with respect to any transfer of any interest in any Note (including any transfers between or among Depositary participants or beneficial owners of interests in any Global Note).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Neither the Trustee nor any agent shall have any responsibility or liability for any actions taken or not taken by the Depositary, and may assume performance absent written notice to the contrary.

Section 2.06. *Mutilated, Destroyed, Lost or Stolen Notes.* In case any Note shall become mutilated or be destroyed, lost or stolen, the Company in its discretion may execute, and upon receipt of a Company Order, the Trustee or an authenticating agent appointed by the Trustee shall authenticate and deliver, a new Note, bearing a registration number not contemporaneously outstanding, in exchange and substitution for the mutilated Note, or in lieu of and in substitution for the Note so destroyed, lost or stolen. In every case the applicant for a substituted Note shall furnish to the Company, to the Trustee and, if applicable, to such authenticating agent such security or indemnity as may be required by them to save each of them harmless from any loss, claim, liability, cost or expense caused by or connected with such substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company, to the Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof.

The Trustee or such authenticating agent may authenticate any such substituted Note and deliver the same upon the receipt of such security or indemnity as the Trustee, the Company and, if applicable, such authenticating agent may require. No service charge shall be imposed by the Company, the Trustee, the Note Registrar, any co-Note Registrar or the Paying Agent upon the issuance of any substitute Note, but the Company or the Trustee may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar issue or transfer tax or other similar governmental charge required in connection therewith as a result of the name of the Holder of the new substitute Note being different from the name of the Holder of the old Note that became mutilated or was destroyed, lost or stolen. In case any Note that has matured or is about to mature or has been surrendered for required repurchase or is about to be converted in accordance with Article 14 shall become mutilated or be destroyed, lost or stolen, the Company may, in its sole discretion, instead of issuing a substitute Note, pay or authorize the payment of or convert or authorize the conversion of the same (without surrender thereof except in the case of a mutilated Note), as the case may be, if the applicant for such payment or conversion shall furnish to the Company, to the Trustee and, if applicable, to such authenticating agent such security or indemnity as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or connected with such substitution, and, in every case of destruction, loss or theft, evidence satisfactory to the Company, the Trustee and, if applicable, any Paying Agent or Conversion Agent of the destruction, loss or theft of such Note and of the ownership thereof.

Every substitute Note issued pursuant to the provisions of this Section 2.06 by virtue of the fact that any Note is destroyed, lost or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any time, and shall be entitled to all the benefits of (but shall be subject to all the limitations set forth in) this Indenture equally and proportionately with any and all other Notes duly issued hereunder. To the extent permitted by law, all Notes shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement, payment, redemption, conversion or repurchase of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement, payment, redemption, conversion or repurchase of negotiable instruments or other securities without their surrender.

Section 2.07. *Temporary Notes.* Pending the preparation of Physical Notes, the Company may execute and the Trustee or an authenticating agent appointed by the Trustee shall, upon receipt of a Company Order, authenticate and deliver temporary Notes (printed or lithographed). Temporary Notes shall be issuable in any authorized denomination, and substantially in the form of the Physical Notes but with such omissions, insertions and variations as may be appropriate for temporary Notes, all as may be determined by the Company. Every such temporary Note shall be executed by the Company and authenticated by the Trustee or such authenticating agent upon the same conditions and in substantially the same manner, and with the same effect, as the Physical Notes. Without unreasonable delay, the Company shall execute and deliver to the Trustee or such authenticating agent Physical Notes (other than any Global Note) and thereupon any or all temporary Notes (other than any Global Note) may be surrendered in exchange therefor, at each office or agency maintained by the Company pursuant to Section 4.02 and the Trustee or such authenticating agent shall authenticate and deliver in exchange for such temporary Notes an equal aggregate principal amount of Physical Notes. Such exchange shall be made by the Company at its own expense and without any charge therefor. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits and subject to the same limitations under this Indenture as Physical Notes authenticated and delivered hereunder.

Section 2.08. *Cancellation of Notes Paid, Converted, Etc.* The Company shall cause all Notes surrendered for the purpose of payment at maturity, repurchase upon a Fundamental Change, redemption, registration of transfer or exchange or conversion, if surrendered to any Person that the Company controls, to be surrendered to the Trustee for cancellation. All Notes delivered to the Trustee shall be canceled by it in accordance with its customary procedures, upon the Company's written request. Except for any Notes surrendered for registration of transfer or exchange, or as otherwise expressly permitted by any of the provisions of this Indenture, no Notes shall be authenticated in exchange for any Notes surrendered to the Trustee for cancellation. The Trustee shall dispose of canceled Notes in accordance with its customary procedures. After such cancellation, the Trustee shall deliver a certificate of such cancellation to the Company, at the Company's written request in a Company Order.

Section 2.09. *CUSIP Numbers.* The Company in issuing the Notes may use CUSIP numbers (if then generally in use), and, if so, the Trustee shall use CUSIP numbers in all notices issued to Holders as a convenience to such Holders; *provided* that the Trustee shall have no liability for any defect in the "CUSIP" numbers as they appear on any Note, notice or elsewhere, and, *provided, further,* that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or on such notice and that reliance may be placed only on the other identification numbers printed on the Notes. The Company shall promptly notify the Trustee in writing of any change in the CUSIP numbers.

Section 2.10. *Repurchases.* The Company may, to the extent permitted by law and without the consent of Holders, and directly or indirectly (regardless of whether such Notes are surrendered to the Company), repurchase Notes in the open market or otherwise, whether by the Company or its Subsidiaries or through a private or public tender or exchange offer or through counterparties to private agreements, including by cash-settled swaps or other derivatives, without prior notice to the Holders of the Notes. The Company may, to the extent permitted by applicable law, surrender to the Trustee for cancellation in accordance with Section 2.08 any Notes that the Company or its Subsidiaries may repurchase. Any Notes that the Company or its Subsidiaries may repurchase shall be considered outstanding for all purposes under this Indenture (other than, at any time when such Notes are held by the Company, any of its Subsidiaries or its Affiliates or any Subsidiary of any of such Affiliates, for the purpose of determining whether Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent, waiver or other action under this Indenture) unless and until such time the Company surrenders them to the Trustee for cancellation in accordance with Section 2.08 and, upon receipt of a written order from the Company, the Trustee shall cancel all Notes so surrendered.

ARTICLE 3<br> SATISFACTION AND DISCHARGE

Section 3.01. *Satisfaction and Discharge.* This Indenture and the Notes shall upon request of the Company contained in an Officer's Certificate cease to be of further effect, and the Trustee, at the expense of the Company, shall execute such instruments reasonably requested by the Company acknowledging satisfaction and discharge of this Indenture and the Notes, when (A) (i) all Notes theretofore authenticated and delivered (other than (x) Notes which have been destroyed, lost or stolen and which have been replaced, paid or converted as provided in Section 2.06 and (y) Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 4.04(d)) have been delivered to the Trustee for cancellation; or (ii) after the Notes have (x) become due and payable, whether on the Maturity Date, on any Fundamental Change Repurchase Date, any Redemption Date or otherwise and/or (y) been converted (and the related consideration due upon conversion has been determined), the Company has irrevocably deposited with the Trustee cash, shares of Common Stock or a combination thereof, as applicable, sufficient to pay all of the outstanding Notes and all other sums due and payable under this Indenture or the Notes by the Company; and (B) the Company has delivered to the Trustee an Officer's Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture and the Notes have been complied with. Notwithstanding the satisfaction and discharge of this Indenture, or the earlier resignation or removal of the Trustee, the obligations of the Company to the Trustee under Section 7.06 shall survive.

ARTICLE 4<br> PARTICULAR COVENANTS OF THE COMPANY

Section 4.01. *Payment of Principal and Interest.* The Company covenants and agrees that it will cause to be paid the principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, the Settlement Amounts owed upon conversion of, and accrued and unpaid interest on, each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes.

Section 4.02. *Maintenance of Office or Agency.* The Company will maintain in the United States an office or agency where the Notes may be surrendered for registration of transfer or exchange or for presentation for payment or repurchase ("**Paying Agent**") or for conversion ("**Conversion Agent**") and where notices in respect of the Notes and this Indenture may be made. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made at the Corporate Trust Office.

The Company may also from time to time designate as Paying Agent one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; *provided* that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in the United States for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. The terms "**Paying Agent**" and "**Conversion Agent**" include any such additional or other offices or agencies, as applicable.

The Company hereby initially designates the Trustee as the Paying Agent, Note Registrar, Custodian and Conversion Agent and the Corporate Trust Office as a place where Notes may be surrendered for registration of transfer or exchange or for presentation for payment or repurchase (if applicable) or for conversion and where notices in respect of the Notes and this Indenture may be made, *provided* that the Corporate Trust Office shall not be a place for service of legal process on the Company.

Section 4.03. *Appointments to Fill Vacancies in Trustee's Office.* The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.09, a Trustee, so that there shall at all times be a Trustee hereunder.

Section 4.04. *Provisions as to Paying Agent.* (a) If the Company shall appoint a Paying Agent other than the Trustee, the Company will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section 4.04:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) that it will hold all sums held by it as such agent for the payment of the principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, and accrued and unpaid interest on, the Notes in trust for the benefit of the Holders of the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) that it will give the Trustee prompt written notice of any failure by the Company to make any payment of the principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, and accrued and unpaid interest on, the Notes when the same shall be due and payable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) that at any time during the continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to the Trustee all sums so held in trust;

The Company shall, on or before each due date of the principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, or accrued and unpaid interest on, the Notes, deposit with the Paying Agent a sum sufficient to pay such principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) or accrued and unpaid interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee in writing of any failure to take such action; *provided* that if such deposit is made on the due date, such deposit must be received by the Paying Agent by 11:00 a.m., New York City time, on such date, and if such deposit is not received by 11:00 a.m., New York City time, on such due date, such deposit will be deemed deposited on the next Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Company shall act as its own Paying Agent, it will, on or before each due date of the principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, and accrued and unpaid interest on, the Notes, set aside, segregate and hold in trust for the benefit of the Holders of the Notes a sum sufficient to pay such principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) and accrued and unpaid interest so becoming due and will promptly notify the Trustee in writing of any failure to take such action and of any failure by the Company to make any payment of the principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, or accrued and unpaid interest on, the Notes when the same shall become due and payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Anything in this Section 4.04 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other reason, pay, cause to be paid or deliver to the Trustee all sums or amounts held in trust by the Company or any Paying Agent hereunder as required by this Section 4.04, such sums or amounts to be held by the Trustee upon the trusts herein contained and upon such payment or delivery by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent shall be released from all further liability but only with respect to such sums or amounts. Upon the occurrence of any event specified in Section 6.01(h) or Section 6.01(i), the Trustee shall automatically become the Paying Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Subject to applicable law, any money or property deposited with the Trustee, the Conversion Agent or any Paying Agent, or any money and shares of Common Stock then held by the Company, in trust for the payment of the principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, accrued and unpaid interest on and the consideration due upon conversion of any Note and remaining unclaimed for two years after such principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable), interest or consideration due upon conversion has become due and payable shall be paid to the Company on request of the Company contained in an Officer's Certificate, or (if then held by the Company) shall be discharged from such trust and the Trustee shall have no further liability with respect to such funds or property; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee, the Conversion Agent or such Paying Agent with respect to such trust money, and all liability of the Company as trustee with respect to such trust money and shares of Common Stock, shall thereupon cease;

Section 4.05. *Existence.* Subject to Article 11, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence.

Section 4.06. *Rule 144A Information Requirement and Annual Reports*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At any time the Company is not subject to Section 13 or 15(d) of the Exchange Act, the Company shall, so long as any of the Notes or any shares of Common Stock issuable upon conversion thereof shall, at such time, constitute "restricted securities" within the meaning of Rule 144(a)(3) under the Securities Act, promptly provide to the Trustee and, upon written request, any Holder, beneficial owner or prospective purchaser of such Notes or any shares of Common Stock issuable upon conversion of such Notes, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act to facilitate the resale of such Notes or shares of Common Stock pursuant to Rule 144A. The Company shall take such further action as any Holder or beneficial owner of such Notes or such Common Stock may reasonably request to the extent from time to time required to enable such Holder or beneficial owner to sell such Notes or shares of Common Stock in accordance with Rule 144A, as such rule may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall file with the Trustee, within 15 days after the same are required to be filed with the Commission, copies of any documents or reports that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (giving effect to any grace period provided by Rule 12b-25 under the Exchange Act). Notwithstanding the foregoing, the Company shall in no event be required to file with, or otherwise provide or disclose to, the Trustee or any Holder any information for which the Company is requesting (assuming such request has not been denied), or has received, confidential treatment from the Commission, or any correspondence with the Commission. Any such document or report that the Company files with the Commission via the Commission's EDGAR Next system (or any successor thereto) shall be deemed to be filed with the Trustee for purposes of this Section 4.06(b) at the time such documents are filed via the EDGAR Next system (or any successor thereto), it being understood that the Trustee shall not be responsible for determining whether such filings have been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Delivery of the reports, information, and other documents described in subsection (b) above to the Trustee is for informational purposes only, and the Trustee's receipt of such shall not constitute constructive or actual notice of any information contained therein or determinable from information contained therein or determinable therefrom, including the Company's compliance with any of its covenants hereunder (as to which the Trustee is entitled to conclusively rely on an Officer's Certificate).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If, at any time during the six-month period beginning on, and including, the date that is six months after the last date of original issuance of the Notes, the Company fails to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods provided by Rule 12b-25 or any successor rule under the Exchange Act and other than reports on Form 8-K), or the Notes are not otherwise Freely Tradable, the Company shall pay Additional Interest on the Notes. Such Additional Interest shall accrue on the Notes at the rate of 0.50% per annum of the principal amount of the Notes outstanding for each day during such period for which the Company's failure to file has occurred and is continuing or the Notes are not otherwise Freely Tradable. As used in this Section 4.06(d), documents or reports that the Company is required to "file" with the Commission pursuant to Section 13 or 15(d) of the Exchange Act does not include documents or reports that the Company furnishes to the Commission pursuant to Section 13 or 15(d) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If, and for so long as, the Restrictive Legend on the Notes specified in Section 2.05(c) has not been removed, the Notes are assigned a restricted CUSIP or the Notes are not otherwise Freely Tradable as of the De-legending Deadline Date, the Company shall pay Additional Interest on the Notes at a rate equal to 0.50% per annum of the principal amount of Notes outstanding until the Restrictive Legend on the Notes has been removed in accordance with Section 2.05(c), the Notes are assigned an unrestricted CUSIP and the Notes are Freely Tradable; *provided, however*, that no Additional Interest shall accrue or be owed pursuant to this Section 4.06(e) until the fifteenth Business Day following written notification to the Company by the Trustee (at the written direction of the Holders) or any Holder or beneficial owner of the Notes requesting that the Company comply with its obligations described in this Section 4.06(e) (which notice may be given at any time after the 330th day after the last date of original issuance of the Notes), it being understood and agreed that in no event shall Additional Interest accrue or be owed pursuant to this Section 4.06(e) for any period prior to the applicable De-legending Deadline Date. The Restrictive Legend on the Notes shall be deemed removed pursuant to the terms of this Indenture as provided in Section 2.05(c), and, at such time, the Notes (other than any Notes represented by a Global Note) will, pursuant to, and subject to the provisions of, such Section, be deemed assigned an unrestricted CUSIP number. However, for the avoidance of doubt, Global Notes will continue to bear Additional Interest pursuant to this paragraph until such time as they are identified by an unrestricted CUSIP in the facilities of the Depositary therefor, as a result of completion of such Depositary's mandatory exchange process or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Additional Interest will be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Notes; *provided*, that if Additional Interest begins to accrue pursuant to Section 4.06(d) after the close of business on a Regular Record Date and prior to the open of business on the corresponding Interest Payment Date, the Additional Interest that accrues during such period will be due on the Interest Payment Date next succeeding such corresponding Interest Payment Date, and no interest shall accrue in respect of such delay.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Additional Interest that is payable in accordance with Section 4.06(d) or Section 4.06(e) shall be in addition to, and not in lieu of, any Additional Interest that may be payable as a result of the Company's election pursuant to Section 6.03. However, in no event shall any Additional Interest that may accrue as a result of the Company's failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), as described in Section 4.06(d), together with any Additional Interest payable at the Company's election as the remedy for a Reporting Event of Default, accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. If the Company is required to pay Additional Interest, the Company will notify the Trustee, the Paying Agent and the Holders in writing, prior to the applicable Record Date, of the amount of Additional Interest due on the applicable Interest Payment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) If Additional Interest is payable by the Company pursuant to Section 4.06(d) or Section 4.06(e), the Company shall deliver to the Trustee an Officer's Certificate to that effect stating (i) the amount of such Additional Interest that is payable and (ii) the date on which such Additional Interest is payable. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may conclusively assume without inquiry that no such Additional Interest is payable and the Trustee shall not have any duty to verify the Company's calculation of Additional Interest. If the Company has paid Additional Interest directly to the Persons entitled to it, the Company shall deliver to the Trustee an Officer's Certificate setting forth the particulars of such payment.

Section 4.07. *Stay, Extension and Usury Laws.* The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law that would prohibit or forgive the Company from paying all or any portion of the principal of or interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of this Indenture; and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted.

Section 4.08. *Compliance Certificate; Statements as to Defaults.* So long as any Notes are outstanding, the Company shall deliver to the Trustee within 120 days after the end of each calendar year of the Company (beginning with the calendar year ending on December 31, 2025) an Officer's Certificate stating whether the signers thereof have knowledge of any Default or Event of Default under this Indenture that occurred during the previous year and, if so, specifying each such Default or Event of Default and the nature thereof.

In addition, the Company shall deliver to the Trustee within 30 days after an Officer of the Company becomes aware of the occurrence of any Event of Default or Default, an Officer's Certificate setting forth the details of such Event of Default or Default, its status and the action that the Company is taking or proposing to take in respect thereof; *provided* that the Company is not required to deliver such notice if such Event of Default or Default is no longer continuing or has been cured or waived before the date on which the Company is required delivered such notice.

Section 4.09. *Further Instruments and Acts.* Upon request of the Trustee, Paying Agent or Conversion Agent, the Company will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture.

Section 4.10. *Limitation on Incurrence of Indebtedness.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, create, incur, assume, guarantee, permit to exist or be liable with respect to any Indebtedness, other than Permitted Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness, the U.S. dollar equivalent principal amount of Indebtedness denominated in a foreign currency shall be utilized, calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred (or, in the case of revolving Indebtedness, on the date such Indebtedness was first committed); *provided* that if any such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The accrual of interest, the accretion or amortization of original issue discount, the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms, the reclassification of preferred stock as Indebtedness due to a change in accounting principles and the reclassification of operating leases as Capital Leases due to a change in accounting principles will not be deemed to be an incurrence of Indebtedness for purposes of this Section 4.10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything in this Indenture to the contrary, if on any date following the Agreement Date, either (i) 20% or less of the aggregate principal amount of the Notes remains outstanding (as a result of repayment, prepayment, conversion or otherwise) or (ii) a Fundamental Change (other than pursuant to clause (c) or (d) of the definition thereof) has been deemed to occur pursuant to the terms of this Indenture, then the restrictions contained in this Section 4.10 will, automatically and without the need for further action, cease to apply and have no further force and effect.

Section 4.11. *Stockholder Approval*. If Stockholder Approval is required pursuant to the listing rules of the Designated Exchange on which the Common Stock is listed or admitted for trading, the Company shall take all action necessary to promptly call, give notice of, convene and hold a special meeting of its stockholders for the purpose of, inter alia, obtaining the Stockholder Approval, no later than ninety (90) days from the date of this Indenture. If the Company is unable to obtain Stockholder Approval at the special meeting, the Company shall take all action necessary to present the Stockholder Approval to stockholders and shall seek Stockholder Approval at each annual meeting of its stockholders held thereafter, until such Stockholder Approval is obtained or all of the Notes are no longer outstanding and/or have been converted to shares of Common Stock or cash (as applicable) pursuant to the provisions of Section 14 hereof. The Company shall prepare and file with the Commission a definitive proxy statement relating to each such special or annual meeting, which shall include the recommendation of the Board of Directors that the stockholders of the Company vote in favor of the adoption and approval of any shares of Common Stock issued in excess of the Exchange Cap, which proxy statement, including any amendments, shall comply as to form in all material respects with the applicable requirements of the Exchange Act and the rules of the Commission and the Designated Exchange on which the Common Stock is listed or admitted for trading.

Section 4.12. *Melinta Acquisition Announcements*. The Company will file a Current Report on Form 8-K with the Commission announcing the completion of the Melinta Acquisition no later than one Business Day following the Melinta Acquisition Closing Date. No later than one Business Day following the earlier of (i) the termination of the Merger Agreement and (ii) the decision not to consummate the Melinta Acquisition, the Company will file a Current Report on Form 8-K (which, for the avoidance of doubt, will constitute a public announcement in a manner sufficient to comply with Regulation FD) announcing, as applicable, such termination or that the Melinta Acquisition will not otherwise be consummated.

ARTICLE 5<br> LISTS OF HOLDERS AND REPORTS BY THE COMPANY AND THE TRUSTEE

Section 5.01. *Lists of Holders.* The Company covenants and agrees that it will furnish or cause to be furnished to the Trustee, semi-annually, no later than February 1 and August 1 in each year beginning with February 1, 2026, and at such other times as the Trustee may request in writing, within 15 days after receipt by the Company of any such request (or such lesser time as the Trustee may reasonably request in order to enable it to timely provide any notice to be provided by it hereunder), a list in such form as the Trustee may reasonably require of the names and addresses of the Holders as of a date not more than 15 days (or such other date as the Trustee may reasonably request in order to so provide any such notices) prior to the time such information is furnished, except that no such list need be furnished so long as the Trustee is acting as Note Registrar.

Section 5.02. *Preservation and Disclosure of Lists.* The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the Holders contained in the most recent list furnished to it as provided in Section 5.01 or maintained by the Trustee in its capacity as Note Registrar, if so acting. The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.

ARTICLE 6<br> DEFAULTS AND REMEDIES

Section 6.01. *Events of Default.* Each of the following events shall be an "**Event of Default**" with respect to the Notes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) default in any payment of interest on any Note when due and payable, and the default continues for a period of 30 days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) default in the payment of principal of any Note when due and payable on the Maturity Date, upon redemption, upon any required repurchase, upon declaration of acceleration or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) failure by the Company to comply with its obligation to convert the Notes in accordance with this Indenture upon exercise of a Holder's conversion right, and such failure continues for three Business Days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) failure by the Company to issue (i) a Fundamental Change Company Notice in accordance with Section 15.02(c) when due, and such failure continues for three Business Days, (ii) notice of the Effective Date of a Make-Whole Fundamental Change in accordance with Section 14.03(b), (iii) notice of a specified Corporate Event in accordance with Section 14.01(b)(ii) when due or (iv) notice of a specified corporate event in accordance with 14.01(b)(iii) when due, and such failure continues for two Business Days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) failure by the Company to comply with its obligations under Article 11;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) failure by the Company for 60 days after written notice to the Company from the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding has been received by the Company to comply with any of its other agreements contained in the Notes or this Indenture;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) default by the Company or any Significant Subsidiary of the Company with respect to any mortgage, agreement or other instrument under which there may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed in excess of $37,500,000 (or its foreign currency equivalent) in the aggregate of the Company and/or any such Significant Subsidiary, whether such indebtedness now exists or shall hereafter be created (i) resulting in such indebtedness becoming or being declared due and payable prior to its stated maturity or (ii) constituting a failure to pay the principal of or interest on any such debt when due and payable at its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise, in each case, after the expiration of any applicable grace period, if such acceleration shall not have been rescinded or annulled or such failure to pay or default shall not have been cured or waived, or such indebtedness shall not have been paid or discharged, as the case may be, within 30 days after written notice to the Company by the Trustee or to the Company and the Trustee by Holders of at least 25% in aggregate principal amount of the Notes then outstanding determined in accordance with this Indenture;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the Company or any Significant Subsidiary shall commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to the Company or any such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or any such Significant Subsidiary or any substantial part of its property, or shall consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall publicly admit in writing that it generally is not paying, or is unable to pay, or shall otherwise generally fail to pay, its debts as they become due;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) an involuntary case or other proceeding shall be commenced against the Company or any Significant Subsidiary seeking liquidation, reorganization or other relief with respect to the Company or such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or such Significant Subsidiary or any substantial part of its property, and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of 60 consecutive days.

Section 6.02. *Acceleration; Rescission and Annulment.* If one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.01(h) or Section 6.01 (i) with respect to the Company or any of its Significant Subsidiaries), unless the principal of all of the Notes shall have already become due and payable, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding determined in accordance with Section 8.04, by notice in writing to the Company (and to the Trustee if given by Holders), may declare 100% of the principal of, and accrued and unpaid interest on, all the Notes to be due and payable immediately, and upon any such declaration the same shall become and shall automatically be immediately due and payable, anything contained in this Indenture or in the Notes to the contrary notwithstanding. If an Event of Default specified in Section 6.01(h) or Section 6.01(i) with respect to the Company occurs and is continuing, 100% of the principal of, and accrued and unpaid interest, if any, on, all Notes shall become and shall automatically be immediately due and payable without any act or declaration on the part of the Trustee or any Holder.

The immediately preceding paragraph, however, is subject to the conditions that if, at any time after the principal of the Notes shall have been so declared due and payable, and before any judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay installments of accrued and unpaid interest upon all Notes and the principal of any and all Notes that shall have become due otherwise than by acceleration (with interest on overdue installments of accrued and unpaid interest to the extent that payment of such interest is enforceable under applicable law, and on such principal at the rate borne by the Notes at such time) and amounts due to the Trustee pursuant to Section 7.06, and if (1) rescission would not conflict with any judgment or decree of a court of competent jurisdiction and (2) any and all existing Events of Default under this Indenture, other than the nonpayment of the principal of and accrued and unpaid interest, if any, on Notes that shall have become due solely by such acceleration, shall have been cured or waived pursuant to Section 6.09, then and in every such case (except as provided in the immediately succeeding sentence) the Holders of a majority in aggregate principal amount of the Notes then outstanding, by written notice to the Company and to the Trustee, may waive all Defaults or Events of Default with respect to the Notes (except with respect to any continuing defaults relating to nonpayment of principal or any interest or with respect to the failure to deliver the consideration due upon conversion) and rescind and annul such declaration and its consequences and such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent Default or Event of Default, or shall impair any right consequent thereon. Notwithstanding anything to the contrary herein, no such waiver or rescission and annulment shall extend to or shall affect any Default or Event of Default resulting from (i) the nonpayment of the principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, or accrued and unpaid interest on, any Notes, (ii) a failure to repurchase any Notes when required or (iii) a failure to pay or deliver, as the case may be, the consideration due upon conversion of the Notes.

Section 6.03. *Additional Interest.* Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, as provided below in this Section 6.03, the sole remedy for an Event of Default relating to the Company's failure to comply with its obligations as set forth in Section 4.06(b) (a "**Reporting Event of Default**") shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (i) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 180th day immediately following, and including, the date on which such Event of Default first occurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e), subject to the second immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes and shall accrue on all outstanding Notes from, and including, the date on which the Reporting Event of Default first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 361st day after such Event of Default first occurs (if Reporting Event of Default is not cured or validly waived in accordance with this Article 6 prior to such 361st day), such Additional Interest shall cease to accrue and the Notes shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than a Reporting Event of Default. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

In order to elect to pay Additional Interest as the sole remedy during the first 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify all Holders of the Notes, the Trustee and the Paying Agent in an Officer's Certificate (consistent with Section 4.06(h)) of such election prior to the beginning of such 360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

In no event shall Additional Interest payable at the Company's election as the remedy for an Event of Default relating to the Company's failure to comply with its reporting obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company's failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods provided by Rule 12b-25 or any successor rule under the Exchange Act and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional Interest.

Section 6.04. *Payments of Notes on Default; Suit Therefor.* If an Event of Default described in clause (a) or (b) of Section 6.01 shall have occurred and be continuing, the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount then due and payable on the Notes for principal and interest, if any, with interest accruing on any overdue principal and interest, if any, at the rate borne by the Notes at such time, and, in addition thereto, such further amount as shall be sufficient to cover any amounts due to the Trustee under Section 7.06. If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Notes, wherever situated.

In the event there shall be pending proceedings for the bankruptcy or for the reorganization of the Company or any other obligor on the Notes under Title 11 of the United States Code, or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or such other obligor, the property of the Company or such other obligor, or in the event of any other judicial proceedings relative to the Company, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section 6.04, shall be entitled and empowered, by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal and accrued and unpaid interest, if any, in respect of the Notes, and, in case of any judicial proceedings, to file such proofs of claim and other papers or documents and to take such other actions as it may deem necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceedings relative to the Company or any other obligor on the Notes, its or their creditors, or its or their property, and to collect and receive any monies or other property payable or deliverable on any such claims, and to distribute the same after the deduction of any amounts due to the Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator, custodian or similar official is hereby authorized by each of the Holders to make such payments to the Trustee, as administrative expenses, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for reasonable compensation, expenses, advances and disbursements, including agents and counsel fees and expenses, and including any other amounts due to the Trustee under Section 7.06, incurred by it up to the date of such distribution. To the extent that such payment of reasonable compensation, expenses, advances and disbursements out of the estate in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and other property that the Holders of the Notes may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise.

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting such Holder or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

All rights of action and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Notes.

In any proceedings brought by the Trustee (and in any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party) the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Holders of the Notes parties to any such proceedings.

In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of any waiver pursuant to Section 6.09 or any rescission and annulment pursuant to Section 6.02 or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Holders and the Trustee shall, subject to any determination in such proceeding, be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Holders and the Trustee shall continue as though no such proceeding had been instituted.

Section 6.05. *Application of Monies Collected by Trustee.* Any monies or property collected by the Trustee pursuant to this Article 6 with respect to the Notes shall be applied in the following order, at the date or dates fixed by the Trustee for the distribution of such monies or property, upon presentation of the several Notes, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid:

**First,** to the payment of all amounts due the Trustee (in each of its capacities under this Indenture), including its agents and counsel, under Section 7.06;

**Second,** in case the principal of the outstanding Notes shall not have become due and be unpaid, to the payment of interest on, and any cash due upon conversion of, the Notes in default in the order of the date due of the payments of such interest and cash due upon conversion, as the case may be, with interest (to the extent that such interest has been collected by the Trustee) upon such overdue payments at the rate borne by the Notes at such time, such payments to be made ratably to the Persons entitled thereto;

**Third,** in case the principal of the outstanding Notes shall have become due, by declaration or otherwise, and be unpaid to the payment of the whole amount (including, if applicable, the payment of the Fundamental Change Repurchase Price, the Redemption Price and any cash due upon conversion) then owing and unpaid upon the Notes for principal and interest, if any, with interest (to the extent that such interest has been collected by the Trustee) on the overdue principal and, to the extent that such interest and has been collected by the Trustee, upon overdue installments of interest at the rate borne by the Notes at such time, and in case such monies shall be insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment of such principal (including, if applicable, the Fundamental Change Repurchase Price, the Redemption Price and any cash due upon conversion) and interest without preference or priority of principal over interest, or of interest over principal or of any installment of interest over any other installment of interest, or of any Note over any other Note, ratably to the aggregate of such principal (including, if applicable, the Fundamental Change Repurchase Price, the Redemption Price and any cash due upon conversion) and accrued and unpaid interest; and

**Fourth,** to the payment of the remainder, if any, to the Company.

Section 6.06. *Proceedings by Holders.* Except to enforce the right to receive payment of principal (including, if applicable, the Fundamental Change Repurchase Price or the Redemption Price) or interest when due, or the right to receive payment or delivery of the consideration due upon conversion, no Holder of any Note shall have any right by virtue of or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture, or for the appointment of a receiver, trustee, liquidator, custodian or other similar official, or for any other remedy hereunder, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) such Holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof, as herein provided;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Holders of at least 25% in aggregate principal amount of the Notes then outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such Holders shall have offered, and if requested, provided, to the Trustee such security or indemnity satisfactory to the Trustee against any loss, cost, claim, liability or expense to be incurred therein or thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Trustee for 60 days after its receipt of such notice, request and offer, or provision, of such security or indemnity, shall have neglected or refused to institute any such action, suit or proceeding; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) no direction that, in the opinion of the Trustee, is inconsistent with such written request shall have been given to the Trustee by the Holders of a majority of the aggregate principal amount of the Notes then outstanding within such 60-day period pursuant to Section 6.09,

it being understood and intended, and being expressly covenanted by the taker and Holder of every Note with every other taker and Holder and the Trustee that no one or more Holders shall have any right in any manner whatever by virtue of or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of any other Holder (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holder), or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders (except as otherwise provided herein). For the protection and enforcement of this Section 6.06, each and every Holder and the Trustee shall be entitled to such relief as can be given either at law or in equity.

Notwithstanding any other provision of this Indenture and any provision of any Note, each Holder shall have the contractual right to receive payment or delivery, as the case may be, of (x) the principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, (y) accrued and unpaid interest, if any, on, and (z) the consideration due upon conversion of, such Note, on or after the respective due dates expressed or provided for in such Note or in this Indenture, and the contractual right to institute suit for the enforcement of any such payment or delivery, as the case may be, on or after such respective dates, shall not be amended without the consent of each Holder.

Section 6.07. *Proceedings by Trustee.* In case of an Event of Default, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

Section 6.08. *Remedies Cumulative and Continuing.* Except as provided in the last paragraph of Section 2.06, all powers and remedies given by this Article 6 to the Trustee or to the Holders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of any other powers and remedies available to the Trustee or the Holders of the Notes, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture, and no delay or omission of the Trustee or of any Holder of any of the Notes to exercise any right or power accruing upon any Default or Event of Default shall impair any such right or power, or shall be construed to be a waiver of any such Default or Event of Default or any acquiescence therein; and, subject to the provisions of Section 6.06, every power and remedy given by this Article 6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Holders.

Section 6.09. *Direction of Proceedings and Waiver of Defaults by Majority of Holders.* Subject to the Trustee's right to receive security or indemnity from the relevant Holders as described herein, the Holders of a majority of the aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 8.04 shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Notes; *provided*, *however*, that (a) such direction shall not be in conflict with any rule of law or with this Indenture, and (b) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. The Trustee may refuse to follow any direction that it determines is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability (it being understood that the Trustee shall not have an affirmative duty to ascertain whether or not such direction would be unduly prejudicial to any other Holder) or that conflicts with applicable law or this Indenture. The Holders of a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 8.04 (including consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes) may on behalf of the Holders of all of the Notes waive any past Default or Event of Default hereunder and its consequences except a default in the payment of accrued and unpaid interest, if any, on, or the principal (including any Fundamental Change Repurchase Price or Redemption Price, if applicable) of, the Notes when due that has not been cured pursuant to the provisions of Section 6.01, a failure by the Company to pay or deliver, as the case may be, the consideration due upon conversion of the Notes or a default in respect of a covenant or provision hereof which under Article 10 cannot be modified or amended without the consent of each Holder of an outstanding Note affected. Upon any such waiver the Company, the Trustee and the Holders of the Notes shall be restored to their former positions and rights hereunder; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 6.09, said Default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon.

Section 6.10. *Notice of Defaults.* The Trustee shall, after the occurrence and continuance of a Default of which a Responsible Officer has received written notice thereof, deliver to all Holders notice of such Default within 90 days after such Responsible Officer receives such notice, unless such Defaults shall have been cured or waived before the giving of such notice; *provided* that, except in the case of a Default in the payment of the principal of (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable), or accrued and unpaid interest on, any of the Notes or a Default in the payment or delivery of the consideration due upon conversion, the Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

Section 6.11. *Undertaking to Pay Costs.* All parties to this Indenture agree, and each Holder of any Note by its acceptance thereof shall be deemed to have agreed, that any court may, in its discretion, require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit and that such court may in its discretion assess reasonable costs, including reasonable attorneys' fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; *provided* that the provisions of this Section 6.11 (to the extent permitted by law) shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Notes at the time outstanding determined in accordance with Section 8.04, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or accrued and unpaid interest, if any, on any Note (including, but not limited to, the Fundamental Change Repurchase Price or the Redemption Price, if applicable) on or after the due date expressed or provided for in such Note or to any suit for the enforcement of the right to convert any Note, or receive the consideration due upon conversion, in accordance with the provisions of Article 14.

ARTICLE 7<br> CONCERNING THE TRUSTEE

Section 7.01. *Duties and Responsibilities of Trustee.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except during the continuance of an Event of Default,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Trustee undertakes to perform such duties and obligations and only such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) in the absence of gross negligence or willful misconduct on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In case an Event of Default has occurred and is continuing and is actually known to a Responsible Officer of the Trustee,, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own grossly negligent action, its own grossly negligent failure to act, or its own willful misconduct, except that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) this Subsection shall not be construed to limit the effect of Subsection (a) of this Section;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Trustee shall not be liable for any error of judgement made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was grossly negligent in ascertaining the pertinent facts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Notes at the time outstanding determined as provided in Section 8.04, relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. Prior to taking any action under this Indenture, the Trustee shall be entitled to receive indemnification or security satisfactory to it against any loss, liability or expenses caused by taking or not taking such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section.

Section 7.02. *Rights of the Trustee.* Except as otherwise provided in Section 7.01:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trustee may conclusively rely and shall be fully protected in acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, note, coupon or other paper or document (whether in original or electronic form) believed by it in good faith to be genuine and to have been signed or presented by the proper party or parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officer's Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee by a copy thereof certified by the Secretary or an Assistant Secretary of the Company. Before the Trustee acts or refrains from acting, it may require an Officer's Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officer's Certificate or Opinion of Counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Trustee may consult with counsel of its selection and require an Opinion of Counsel and any written or verbal advice of such counsel or Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in reliance on such advice or Opinion of Counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled, at a reasonable time on any Business Day after reasonable notice, to examine the books, records and premises of the Company, personally or by agent or attorney at the expense of the Company and shall incur no liability of any kind by reason of such inquiry or investigation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents, custodians, nominees or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent, custodian, nominee or attorney appointed by it with due care hereunder. The permissive rights of the Trustee enumerated herein shall not be construed as duties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Trustee shall not be required to give any bond or surety in respect of the execution of the trusts and powers under this Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Trustee may request that the Company deliver an Officer's Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer's Certificate may be signed by any Person authorized to sign an Officer's Certificate, including any Person specified as so authorized in any such certificate previously delivered and not superseded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Trustee shall not be deemed to have notice or knowledge of any Default or Event of Default, unless written notice of any event which is in fact such a Default or Event of Default (and stating the occurrence of a Default or Event of Default) is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Trustee shall not be responsible or liable for any action it takes or omits to take in good faith which it reasonably believes to be authorized or within its rights or powers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Neither the Trustee nor any of its directors, officers, employees, agents or Affiliates shall be responsible for nor have any duty to monitor the performance or any action of the Company, or any of their respective directors, members, officers, agents, Affiliates or employee, nor shall it have any liability in connection with the malfeasance or nonfeasance by such party. The Trustee shall not be responsible for any inaccuracy in the information obtained from the Company or for any inaccuracy or omission in the records which may result from such information or any failure by the Trustee to perform its duties as set forth herein as a result of any inaccuracy or incompleteness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) In no event shall the Trustee be responsible or liable for any punitive, special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Neither the Trustee nor any of the Paying Agent or Conversion Agent shall have any responsibility or liability for any actions taken or not taken by the Depositary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered and, if requested, provided, to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, including as Conversion Agent, and each agent, custodian and other Person employed to act hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of gross negligence or willful misconduct on its part, conclusively rely upon an Officer's Certificate and such Officer's Certificate, in the absence of gross negligence and willful misconduct on the part of the Trustee, shall be full warrant to the Trustee for any action taken or omitted by it under the provisions of this Indenture upon the faith thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) In the absence of written investment direction from the Company, all cash received by the Trustee shall remain uninvested and be placed in a non-interest bearing trust account, and in no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon or for losses, fees, taxes or other charges incurred as a result of the liquidation of any such investment prior to its maturity date or the failure of the party directing such investments prior to its maturity date or the failure of the party directing such investment to provide timely written investment direction, and the Trustee shall have no obligation to invest or reinvest any amounts held hereunder in the absence of such written investment direction from the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) The Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any other matters relating to payment) or notice effected by the Company or any Paying Agent or any records maintained by any co-Note Registrar with respect to the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) If any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice to be sent to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred, unless a Responsible Officer of the Trustee had actual knowledge of such event;

Section 7.03. *No Responsibility for Recitals, Etc.* The recitals contained herein and in the Notes (except in the Trustee's certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity, sufficiency or enforceability of this Indenture or of the Notes or any other documents used in connection with the sale or distribution of the Notes. The Trustee shall not be accountable for the use or application by the Company of any Notes or the proceeds of any Notes authenticated and delivered by the Trustee in conformity with the provisions of this Indenture or any money paid to the Company or upon the Company's direction under any provision of the Indenture. The Trustee shall have no responsibility or liability with respect to any disclosure material prepared or distributed with respect to the issuance of the Notes. The Trustee shall not be bound to ascertain or inquire as to the performance, observance or breach of any covenants, conditions, representations, warranties or agreements on the part of the Company. The Trustee shall have no obligation to pursue any action that is not in accordance with applicable law. The Trustee shall have no obligation to independently determine or verify if any Fundamental Change or Make-Whole Fundamental Change, or any other event has occurred, or notify the Holders of any such event.

Section 7.04. *Trustee, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes.* The Trustee, any Paying Agent, any Conversion Agent, Bid Solicitation Agent or Note Registrar (in each case, if other than an Affiliate of the Company), in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not the Trustee, Paying Agent, Conversion Agent, Bid Solicitation Agent or Note Registrar.

Section 7.05. *Monies to Be Held in Trust.* All monies received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as may be agreed from time to time by the Company and the Trustee.

Section 7.06. *Compensation and Expenses of Trustee.* The Company covenants and agrees to pay to the Trustee, in any capacity under this Indenture from time to time, and the Trustee shall be entitled to, compensation for all services rendered by it hereunder in any capacity (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as mutually agreed to in writing between the Trustee and the Company, and the Company will pay or reimburse the Trustee upon its request for all reasonable and documented expenses, disbursements and advances reasonably incurred or made by the Trustee in accordance with any of the provisions of this Indenture in any capacity thereunder (including the compensation and the reasonable and documented expenses and disbursements of its agents and counsel and of all Persons not regularly in its employ) except any such expense, disbursement or advance as shall have been caused by the Trustee's own gross negligence or willful misconduct as adjudicated by a final non-appealable decision of a court of competent jurisdiction. The Company covenants and agrees to indemnify each of the Trustee or any predecessor Trustee and their agents for, and to hold them harmless against, any and all loss, damage, claims, liability or expense, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee (however denominated)), arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim (whether asserted by the Company, or any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, or in connection with enforcing the provisions of this Section, except to the extent that such loss, damage, claim, liability or expense is due to its own gross negligence or willful misconduct as adjudicated by a final non-appealable decision of a court of competent jurisdiction. The obligations of the Company under this Section 7.06 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall be secured by a senior lien to which the Notes are hereby made subordinate on all money or property held or collected by the Trustee, except, subject to the effect of Section 6.05, funds held in trust herewith for the benefit of the Holders of particular Notes. The Trustee's right to receive payment of any amounts due under this Section 7.06 shall not be subordinate to any other liability or indebtedness of the Company. The obligation of the Company under this Section 7.06 shall survive the satisfaction and discharge of this Indenture and the earlier resignation or removal of the Trustee. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. The indemnification provided in this Section 7.06 shall extend to the officers, directors, agents and employees of the Trustee.

Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee and its agents and any authenticating agent incur expenses or render services after an Event of Default specified in Section 6.01(h) or Section 6.01(i) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any bankruptcy, insolvency or similar laws.

Section 7.07. *Reserved.*

Section 7.08. *Eligibility of Trustee.* There shall at all times be a Trustee hereunder which shall be a Person that is eligible pursuant to the Trust Indenture Act (as if the Trust Indenture Act were applicable hereto) to act as such and has a combined capital and surplus of at least $50,000,000. If such Person publishes reports of condition at least annually, pursuant to law or to the requirements of any supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign promptly in the manner and with the effect hereinafter specified in this Article.

Section 7.09. *Resignation or Removal of Trustee.* The Trustee may at any time resign by giving written notice of such resignation to the Company. Upon receiving such notice of resignation, the Company shall promptly notify all Holders and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 60 days after the giving of such notice of resignation to the Holders, the resigning Trustee may, upon ten Business Days' notice to the Company and the Holders and at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide holder of a Note or Notes for at least six months (or since the date of this Indenture) may, subject to the provisions of Section 6.11, on behalf of himself or herself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In case at any time any of the following shall occur:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.08 and shall fail to resign after written request therefor by the Company or by any such Holder, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in either case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 6.11, any Holder who has been a bona fide holder of a Note or Notes for at least six months (or since the date of this Indenture) may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction at the expense of the Company for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Holders of a majority in aggregate principal amount of the Notes at the time outstanding, as determined in accordance with Section 8.04, may at any time remove the Trustee and nominate a successor trustee that shall be deemed appointed as successor trustee unless within ten days after notice to the Company of such nomination the Company objects thereto, in which case the Trustee so removed or any Holder, upon the terms and conditions and otherwise as in Section 7.09(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 7.09 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.10.

Section 7.10. *Acceptance by Successor Trustee.* Any successor trustee appointed as provided in Section 7.09 shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as Trustee herein; but, nevertheless, on the written request of the Company or of the successor trustee, the trustee ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of Section 7.06, execute and deliver an instrument transferring to such successor trustee all the rights and powers of the trustee so ceasing to act. Upon request of any such successor trustee, the Company shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a senior lien to which the Notes are hereby made subordinate on all money or property held or collected by such trustee as such, except for funds held in trust for the benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the provisions of Section 7.06.

No successor trustee shall accept appointment as provided in this Section 7.10 unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 7.08.

Upon acceptance of appointment by a successor trustee as provided in this Section 7.10, each of the Company and the successor trustee, at the written direction and at the expense of the Company shall deliver or cause to be delivered notice of the succession of such trustee hereunder to the Holders. If the Company fails to deliver such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be delivered at the expense of the Company.

Section 7.11. *Succession by Merger, Etc.* Any organization or other entity into which the Trustee may be merged or converted or with which it may be consolidated, or to which the Trustee may sell or transfer all or substantially all of its corporate trust business, or any organization or other entity resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any organization or other entity succeeding to all or substantially all of the corporate trust business of the Trustee (including the administration of this Indenture), shall be the successor to the Trustee hereunder without the execution or filing of any paper or any further act on the part of any of the parties hereto; *provided* that in the case of any organization or other entity succeeding to all or substantially all of the corporate trust business of the Trustee such corporation or other entity shall be eligible under the provisions of Section 7.08.

ARTICLE 8<br> CONCERNING THE HOLDERS

Section 8.01. *Action by Holders.* Whenever in this Indenture it is provided that the Holders of a specified percentage of the aggregate principal amount of the Notes may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action, the Holders of such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders in person or by agent or proxy appointed in writing, or (b) by the record of the Holders voting in favor thereof at any meeting of Holders duly called and held in accordance with the provisions of Article 9, or (c) by a combination of such instrument or instruments and any such record of such a meeting of Holders. Whenever the Company or the Trustee solicits the taking of any action by the Holders of the Notes, the Company or the Trustee may, but shall not be required to, fix in advance of such solicitation, a date as the record date for determining Holders entitled to take such action. The record date if one is selected shall be not more than fifteen days prior to the date of commencement of solicitation of such action.

Section 8.02. *Proof of Execution by Holders.* Subject to the provisions of Section 7.01, Section 7.02 and Section 9.05, proof of the execution of any instrument by a Holder or its agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The holding of Notes shall be proved by the Note Register or by a certificate of the Note Registrar. The record of any Holders' meeting shall be proved in the manner provided in Section 9.06.

Section 8.03. *Who Are Deemed Absolute Owners.* The Company, the Trustee, any authenticating agent, any Paying Agent, any Conversion Agent and any Note Registrar may deem the Person in whose name a Note shall be registered upon the Note Register to be, and may treat it as, the absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding any notation of ownership or other writing thereon made by any Person other than the Company or any Note Registrar) for the purpose of receiving payment of or on account of the principal (including any Fundamental Change Repurchase Price or Redemption Price, if applicable) of and (subject to Section 2.03) accrued and unpaid interest on such Note, for conversion of such Note and for all other purposes; and neither the Company nor the Trustee nor any Paying Agent nor any Conversion Agent nor any Note Registrar shall be affected nor incur any liability by any notice to the contrary. The sole registered Holder of a Global Note shall be the Depositary or its nominee. All such payments or deliveries so made to any Holder for the time being, or upon its order, shall be valid, and, to the extent of the sums or shares of Common Stock so paid or delivered, effectual to satisfy and discharge the liability for monies payable or shares deliverable upon any such Note. Notwithstanding anything to the contrary in this Indenture or the Notes following an Event of Default, any holder of a beneficial interest in a Global Note may directly enforce against the Company, without the consent, solicitation, proxy, authorization or any other action of the Depositary or any other Person, such holder's right to exchange such beneficial interest for a Note in certificated form in accordance with the provisions of this Indenture.

Section 8.04. *Company-Owned Notes Disregarded.* In determining whether the Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent, waiver or other action under this Indenture, Notes that are owned by the Company, by any Subsidiary thereof or by any Affiliate of the Company or any Subsidiary thereof shall be disregarded and deemed not to be outstanding for the purpose of any such determination; provided that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, consent, waiver or other action only Notes that a Responsible Officer actually knows are so owned shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as outstanding for the purposes of this Section 8.04 if the pledgee shall establish to the satisfaction of the Trustee the pledgee's right to so act with respect to such Notes and that the pledgee is not the Company, a Subsidiary thereof, or an Affiliate of the Company or a Subsidiary thereof. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officer's Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above described Persons; and, subject to Section 7.01, the Trustee shall be entitled to accept such Officer's Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such direction, consent, waiver or other action.

Section 8.05. *Revocation of Consents; Future Holders Bound.* At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the percentage of the aggregate principal amount of the Notes specified in this Indenture in connection with such action, any Holder of a Note that is shown by the evidence to be included in the Notes the Holders of which have consented to such action may, by filing written notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Note. Except as aforesaid, any such action taken by the Holder of any Note shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Note and of any Notes issued in exchange or substitution therefor or upon registration of transfer thereof, irrespective of whether any notation in regard thereto is made upon such Note or any Note issued in exchange or substitution therefor or upon registration of transfer thereof.

ARTICLE 9<br> HOLDERS' MEETINGS

Section 9.01. *Purpose of Meetings.* A meeting of Holders may be called at any time and from time to time pursuant to the provisions of this Article 9 for any of the following purposes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to give any notice to the Company or to the Trustee or to give any directions to the Trustee permitted under this Indenture, or to consent to the waiving of any Default or Event of Default hereunder (in each case, as permitted under this Indenture) and its consequences, or to take any other action authorized to be taken by Holders pursuant to any of the provisions of Article 6;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to remove the Trustee and nominate a successor trustee pursuant to the provisions of Article 7;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Section 10.02; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to take any other action authorized to be taken by or on behalf of the Holders of any specified aggregate principal amount of the Notes under any other provision of this Indenture or under applicable law.

Section 9.02. *Call of Meetings by Trustee.* The Trustee may at any time call a meeting of Holders to take any action specified in Section 9.01, to be held at such time and at such place as the Trustee shall determine. Notice of every meeting of the Holders, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting and the establishment of any record date pursuant to Section 8.01, shall be delivered to Holders of such Notes. Such notice shall also be delivered to the Company. Such notices shall be delivered not less than 20 nor more than 90 days prior to the date fixed for the meeting.

Any meeting of Holders shall be valid without notice if the Holders of all Notes then outstanding are present in person or by proxy or if notice is waived before or after the meeting by the Holders of all Notes then outstanding, and if the Company and the Trustee are either present by duly authorized representatives or have, before or after the meeting, waived notice.

Section 9.03. *Call of Meetings by Company or Holders.* In case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 10% of the aggregate principal amount of the Notes then outstanding, shall have requested the Trustee to call a meeting of Holders, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have delivered the notice of such meeting within 20 days after receipt of such request, then the Company or such Holders may determine the time and the place for such meeting and may call such meeting to take any action authorized in Section 9.01, by delivering notice thereof as provided in Section 9.02.

Section 9.04. *Qualifications for Voting.* To be entitled to vote at any meeting of Holders a Person shall be a Holder of one or more Notes on the record date pertaining to such meeting or be a Person appointed by an instrument in writing as proxy by a Holder of one or more Notes on the record date pertaining to such meeting. The only Persons who shall be entitled to be present or to speak at any meeting of Holders shall be the Persons entitled to vote at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel.

Section 9.05. *Regulations.* Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders, in regard to proof of the holding of Notes and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit.

The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders as provided in Section 9.03, in which case the Company or the Holders calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Holders of a majority in aggregate principal amount of the Notes represented at the meeting and entitled to vote at the meeting.

Subject to the provisions of Section 8.04, at any meeting of Holders each Holder or proxyholder shall be entitled to one vote for each $1,000 principal amount of Notes held or represented by him or her; *provided*, *however*, that no vote shall be cast or counted at any meeting in respect of any Note challenged as not outstanding and ruled by the chairman of the meeting to be not outstanding. The chairman of the meeting shall have no right to vote other than by virtue of Notes held by it or instruments in writing as aforesaid duly designating it as the proxy to vote on behalf of other Holders. Any meeting of Holders duly called pursuant to the provisions of Section 9.02 or Section 9.03 may be adjourned from time to time by the Holders of a majority of the aggregate principal amount of Notes represented at the meeting, whether or not constituting a quorum, and the meeting may be held as so adjourned without further notice.

Section 9.06. *Voting.* The vote upon any resolution submitted to any meeting of Holders shall be by written ballot on which shall be subscribed the signatures of the Holders or of their representatives by proxy and the outstanding aggregate principal amount of the Notes held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was delivered as provided in Section 9.02. The record shall show the aggregate principal amount of the Notes voting in favor of or against any resolution. The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting.

Any record so signed and verified shall be conclusive evidence of the matters therein stated.

Section 9.07. *No Delay of Rights by Meeting.* Nothing contained in this Article 9 shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Holders or any rights expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or to the Holders under any of the provisions of this Indenture or of the Notes. Nothing contained in this Article 9 shall be deemed or construed to limit any Holder's actions pursuant to the Applicable Procedures so long as the Notes are Global Notes.

ARTICLE 10<br> SUPPLEMENTAL INDENTURES

Section 10.01. *Supplemental Indentures Without Consent of Holders.* Without notice to or the consent of any Holder, the Company and the Trustee, at the Company's expense, may from time to time and at any time amend or supplement this Indenture or the Notes for one or more of the following purposes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to cure any ambiguity, mistake, omission, defect or inconsistency;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to provide for the assumption by a Successor Company of the obligations of the Company under this Indenture and the Notes pursuant to, and in compliance with, the provisions of Article 11;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to add guarantees with respect to the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to secure the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) to add to the covenants or Events of Default of the Company for the benefit of the Holders or surrender any right or power conferred upon the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) to make any change that does not adversely affect any of the rights of any Holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) in connection with any Share Exchange Event, to provide that the Notes are convertible into Reference Property, subject to the provisions of Section 14.02, and make such related changes to the terms of the Notes to the extent expressly required by Section 14.07;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) comply with any requirement of the Commission in connection with the qualification of this Indenture under the Trust Indenture Act to the extent this Indenture is qualified thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) reserved;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) provide for the appointment of a successor Trustee, Note Registrar, Paying Agent, Bid Solicitation Agent or Conversion Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) comply with the rules of any applicable securities depositary in a manner that does not adversely affect the rights of any Holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) irrevocably elect a Settlement Method (including Combination Settlement with a Specified Dollar Amount per $1,000 principal amount of Notes of $1,000 or with an ability to continue to set the Specified Dollar Amount per $1,000 principal amount of Notes at or above any specific amount set forth in such election notice) or a Specified Dollar Amount, or eliminate the Company's right to elect a Settlement Method (including at the Company's option upon an irrevocable election as provided in Section 14.02(a)(iv)), or change the Default Settlement Method, in each case solely to the extent that the elected (or remaining) Settlement Method is one that the Indenture would permit the Company to make at such time with respect to all future conversions of Notes; provided, however, that no such election, elimination or change will affect any Settlement Method theretofore elected (or deemed to be elected) with respect to any Note pursuant to the provisions of Article 14); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) increase the Conversion Rate as provided in this Indenture.

Upon the written request of the Company, the Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, but the Trustee shall not be obligated to enter into any supplemental indenture that affects the Trustee's own rights, duties or immunities under this Indenture or otherwise.

Any supplemental indenture authorized by the provisions of this Section 10.01 may be executed by the Company and the Trustee without the consent of the Holders of any of the Notes at the time outstanding, notwithstanding any of the provisions of Section 10.02.

Section 10.02. *Supplemental Indentures with Consent of Holders.* With the consent (evidenced as provided in Article 8) of the Holders of at least a majority of the aggregate principal amount of the Notes then outstanding (determined in accordance with Article 8 and including, without limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Notes), the Company and the Trustee, at the Company's expense, may from time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture, any supplemental indenture or the Notes or of modifying in any manner the rights of the Holders; *provided*, *however*, that, notwithstanding anything to the contrary contained herein, without the consent of each Holder of an outstanding Note affected, no supplemental indenture shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) reduce the rate of or extend the stated time for payment of any interest on any Note;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) reduce the principal of or extend the Maturity Date of any Note;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) make any change that adversely affects the conversion rights of any Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) reduce the Fundamental Change Repurchase Price or the Redemption Price (including, for the avoidance of doubt, the Melinta Acquisition Redemption Price) of any Note or amend or modify in any manner adverse to the Holders the Company's obligation to make such payments, whether through an amendment or waiver of provisions in the covenants, definitions or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) make any Note payable in money, or at a place of payment, other than that stated in the Note;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) change the ranking of the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) eliminate the contractual right of any Holder to institute suit for the enforcement right to receive payment or delivery, as the case may be, of the principal (including the Fundamental Change Repurchase Price or the Redemption Price, if applicable) of, accrued and unpaid interest, if any, on, and the consideration due upon conversion of, its Notes, on or after the respective due dates expressed or provided for in the Notes or this Indenture or otherwise impair the right of any Holder to institute suit for the enforcement of any payment on or with respect to such Holder's Notes; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) make any change in this Article 10 that requires each Holder's consent or in the waiver provisions in Section 6.02 or Section 6.09.

Upon the written request of the Company, and upon the filing with the Trustee of evidence of the consent of the requisite Holders as aforesaid and subject to Section 10.05, the Trustee shall join with the Company in the execution of such supplemental indenture, unless such supplemental indenture affects the Trustee's own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture.

Holders do not need under this Section 10.02 to approve the particular form of any proposed supplemental indenture. It shall be sufficient if such Holders approve the substance thereof. After any such supplemental indenture becomes effective, the Company shall deliver to the Holders (with a copy to the Trustee) a notice briefly describing such supplemental indenture. However, the failure to give such notice to all the Holders (with a copy to the Trustee), or any defect in the notice, will not impair or affect the validity of the supplemental indenture.

Section 10.03. *Effect of Supplemental Indentures.* Upon the execution of any supplemental indenture pursuant to the provisions of this Article 10, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitation of rights, obligations, duties, indemnities, privileges and immunities under this Indenture of the Trustee, the Company and the Holders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.

Section 10.04. *Notation on Notes.* Notes authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article 10 may, at the Company's expense, bear a notation as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Notes so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may, at the Company's expense, be prepared and executed by the Company, authenticated, upon receipt of a Company Order, by the Trustee (or an authenticating agent duly appointed by the Trustee pursuant to Section 17.10) and delivered in exchange for the Notes then outstanding, upon surrender of such Notes then outstanding.

Section 10.05. *Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee.* In addition to the documents required by Section 17.05, the Trustee shall receive an Officer's Certificate and an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee shall have no responsibility for determining whether any amendment or supplemental indenture will or may have an adverse effect on any Holder.

ARTICLE 11<br> CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE

Section 11.01. *Company May Consolidate, Etc. on Certain Terms.* Subject to the provisions of Section 11.02, the Company shall not consolidate with, merge with or into, or sell, convey, transfer or lease all or substantially all of the consolidated assets of the Company and the Company's Subsidiaries, taken as a whole, to another Person (other than any such sale, conveyance, transfer or lease to one or more of the Company's direct or indirect Wholly Owned Subsidiaries), unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the resulting, surviving or transferee Person (the "**Successor Company**"), if not the Company, shall be a corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia, and the Successor Company (if not the Company) shall expressly assume, by supplemental indenture all of the obligations of the Company under the Notes and this Indenture;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing under this Indenture; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Company is not the Successor Company, the Successor Company shall have delivered to the Trustee an Officer's Certificate and Opinion of Counsel, each stating that such consolidation, merger, sale, conveyance, transfer or lease complies with this Indenture and an opinion of counsel stating that the supplemental indenture is the valid and binding obligation of the Successor Company, subject to customary exceptions and qualifications.

For purposes of this Section 11.01, the sale, conveyance, transfer or lease of all or substantially all of the assets of one or more Subsidiaries of the Company to another Person, which assets, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of the assets of the Company on a consolidated basis, shall be deemed to be the sale, conveyance, transfer or lease of all or substantially all of the assets of the Company to another Person.

Section 11.02. *Successor Corporation to Be Substituted.* In case of any such consolidation, merger, sale, conveyance, transfer or lease and upon the assumption by the Successor Company, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of and accrued and unpaid interest on all of the Notes, the due and punctual delivery and/or payment, as the case may be, of any consideration due upon conversion of the Notes and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the Company, such Successor Company (if not the Company) shall succeed to and, except in the case of a lease of all or substantially all of the consolidated assets of the Company and the Company's Subsidiaries, taken as a whole, shall be substituted for the Company, with the same effect as if it had been named herein as the party of the first part, and may thereafter exercise every right and power of the Company under this Indenture. Such Successor Company thereupon may cause to be signed, and may issue either in its own name or in the name of the Company any or all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such Successor Company instead of the Company and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver, or cause to be authenticated and delivered, any Notes that previously shall have been signed and delivered by the Officers of the Company to the Trustee for authentication, and any Notes that such Successor Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and benefit under this Indenture as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the date of the execution hereof. In the event of any such consolidation, merger, sale, conveyance or transfer (but not in the case of a lease), upon compliance with this Article 11 the Person named as the "Company" in the first paragraph of this Indenture (or any successor that shall thereafter have become such in the manner prescribed in this Article 11) may be dissolved, wound up and liquidated at any time thereafter and, except in the case of a lease, such Person shall be released from its liabilities as obligor and maker of the Notes and from its obligations under this Indenture and the Notes.

In case of any such consolidation, merger, sale, conveyance, transfer or lease, such changes in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may be appropriate.

Section 11.03. *Officer's Certificate and Opinion of Counsel to Be Given to Trustee.* If a supplemental indenture is required pursuant to this Article 11 as a result of the Company not being the Successor Company, no such consolidation, merger, sale, conveyance, transfer or lease shall be effective unless the Trustee shall receive (and shall be conclusively entitled to rely upon) an Officer's Certificate and an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, conveyance, transfer or lease and any such assumption complies with the provisions of this Article 11, and that the supplemental indenture is the valid, binding obligations of the Successor Company, enforceable against such Successor Company in accordance with its terms, such Opinion of Counsel to be subject to customary exceptions.

ARTICLE 12<br> IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

Section 12.01. *Indenture and Notes Solely Corporate Obligations.* No recourse for the payment of the principal of or accrued and unpaid interest on, or the payment or delivery of consideration due upon conversion of, any Note, nor for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in this Indenture or in any supplemental indenture or in any Note, nor because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, employee, agent, Officer or director or Subsidiary, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Notes.

ARTICLE 13<br> [INTENTIONALLY OMITTED]

ARTICLE 14<br> CONVERSION OF NOTES

Section 14.01. *Conversion Privilege.* (a) Subject to and upon compliance with the provisions of this Article 14, each Holder of a Note shall have the right, at such Holder's option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Note (i) subject to satisfaction of any of the conditions described in Section 14.01(b), at any time following the Melinta Acquisition Closing Date (or, if there has been a Melinta Acquisition Termination Date and the Company has either (i) failed to deliver, or to cause to have been delivered, a Redemption Notice in respect of a Melinta Acquisition Redemption on such Melinta Acquisition Termination Date, or (ii) delivered, or caused to have been delivered, a Redemption Notice in respect of a Melinta Acquisition Redemption on such Melinta Acquisition Termination Date but has failed to redeem all of the Notes pursuant to a Melinta Acquisition Redemption on the Redemption Date for the Melinta Acquisition Redemption, the first Business Day following the Melinta Acquisition Termination Date, in the case of clause (i) or the Redemption Date, in the case of clause (ii)), prior to the close of business on the Business Day immediately preceding May 1, 2030 under the circumstances and during the periods set forth in Section 14.01(b), and (ii) regardless of the conditions described in Section 14.01(b), on or after May 1, 2030 and prior to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each case, at an initial conversion rate of [_____]<sup>1</sup> shares of Common Stock (subject to adjustment as provided in this Article 14, the "**Conversion Rate**") per $1,000 principal amount of Notes (subject to, and in accordance with, the settlement provisions of Section 14.02, the "**Conversion Obligation**"). As provided for in Section 14.09, the Trustee shall have no obligation to make any determination as to whether any of the conditions described in (b) have been satisfied that makes the Notes eligible for conversion or no longer eligible therefor unless and until the Company delivers the related notices referred to in Section 14.01(b).

<sup>1</sup> To be an amount (rounded to four decimal places) equal to (i) $1,000 divided by (ii) the greater of (x) 130% of the arithmetic average of the Daily VWAP on each of the three consecutive Trading Days beginning on, and including, the Trading Day immediately after the date of the public announcement (provided, however, that if the public announcement is before 9am ET on such date, the Trading Day beginning on such date, in a manner sufficient to comply with Regulation FD) of the execution of the Merger Agreement and (y) 110% of the lowest bona fide sale price of the Common Stock on any national securities exchange or automated interdealer quotation system on the date of pricing of the Notes, being the date of the Subscription Agreements (or such other date as is used for calculating the effective conversion premium for purposes of Rule 144A under the Securities Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (i) Prior to the close of business on the Business Day immediately preceding May 1, 2030, a Holder may surrender all or any portion of its Notes for conversion at any time during the five Business Day period immediately after any five consecutive Trading Day period (the "**Measurement Period**") in which the Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in accordance with this subsection (b)(i), for each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock on each such Trading Day and the Conversion Rate on each such Trading Day (the "**Trading Price Condition**"). The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this subsection (b)(i) and the definition of Trading Price set forth in this Indenture. The Company shall provide written notice to the Bid Solicitation Agent (if other than the Company) of the three independent nationally recognized securities dealers selected by the Company pursuant to the definition of Trading Price, along with appropriate contact information for each. The Bid Solicitation Agent (if other than the Company) shall have no obligation to solicit the Trading Price per principal amount of Notes unless the Company has requested such solicitation in writing, and the Company shall have no obligation to make such request (or, if the Company is acting as Bid Solicitation Agent, the Company shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes) unless one or more Holders of at least $2,000,000 aggregate principal amount of Notes (or such lesser amount as may then be outstanding) provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on any Trading Day would be less than 98% of the product of the Last Reported Sale Price of the Common Stock on such Trading Day and the Conversion Rate on such Trading Day, and the Company shall instruct the three independent nationally recognized securities dealers to deliver bids to the Bid Solicitation Agent. At such time, the Company shall instruct the Bid Solicitation Agent (if other than the Company) in writing to solicit, or if the Company is acting as Bid Solicitation Agent, the Company shall solicit, such bids beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. The Company shall determine the Trading Price per $1,000 principal amount of Notes in accordance with the bids solicited by the Bid Solicitation Agent. Any such determination will be conclusive absent manifest error. If (x) the Company is not acting as Bid Solicitation Agent, and the Company does not instruct the Bid Solicitation Agent in writing to solicit bids when obligated as provided in the preceding sentence, or if the Company instructs the Bid Solicitation Agent in writing to obtain bids and the Bid Solicitation Agent fails to make such solicitation, or (y) the Company is acting as Bid Solicitation Agent and the Company fails to make such solicitation when obligated as provided in the preceding sentence, then, in either case, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each Trading Day of such failure. If the Trading Price Condition has been met on any Trading Day, the Company shall so notify the Holders, the Trustee, and the Conversion Agent (if other than the Trustee) on or within one Business Day of such Trading Day. If, at any time after the Trading Price Condition has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such Trading Day, the Company shall so notify the Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) in writing that the Trading Price Condition is no longer met and thereafter neither the Company nor the Bid Solicitation Agent (if other than the Company) shall be required to solicit bids again until another qualifying request is made as provided above. Neither the Trustee nor the Conversion Agent shall have any duty to determine or verify the Company's determination of whether the Trading Price Condition has been met. The Company will initially act as the Bid Solicitation Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If, prior to the close of business on the Business Day immediately preceding May 1, 2030, the Company elects to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) issue to all or substantially all holders of the Common Stock any rights, options or warrants (other than pursuant to a stockholders rights plan, so long as such rights have not separated from the shares of the Common Stock) entitling them, for a period of not more than 45 calendar days after the announcement date of such issuance, to subscribe for or purchase shares of the Common Stock at a price per share that is less than the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) distribute to all or substantially all holders of the Common Stock the Company's assets, securities or rights to purchase securities of the Company (other than pursuant to a stockholders rights plan, so long as such rights have not separated from the shares of the Common Stock), which distribution has a per share value, as reasonably determined by the Board of Directors, exceeding 10% of the Last Reported Sale Price of the Common Stock on the Trading Day preceding the date of announcement for such distribution,

then, in either case, the Company shall notify all Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) in writing at least 50 Scheduled Trading Days prior to the Ex-Dividend Date for such issuance or distribution (or, if later in the case of any such separation of rights issued pursuant to a stockholder rights plan, as soon as reasonably practicable after the Company becomes aware that such separation or triggering event has occurred or will occur). Once the Company has given such notice, a Holder may surrender all or any portion of its Notes for conversion at any time until the earlier of (1) the close of business on the Business Day immediately preceding the Ex-Dividend Date for such issuance or distribution and (2) the Company's announcement that such issuance or distribution will not take place.

Holders may not convert their Notes pursuant to this Section 14.01(b)(ii) if they participate (other than in the case of a share split or share combination in respect of the Common Stock), at the same time and upon the same terms as holders of the Common Stock and solely as a result of holding the Notes, in any of the transactions described above without having to convert their Notes as if they held a number of shares of Common Stock equal to the applicable Conversion Rate as of the Record Date for such issuance or distribution, as the case may be, *multiplied by* the principal amount (expressed in thousands) of Notes held by such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If a transaction or event that constitutes a Fundamental Change or a Make-Whole Fundamental Change occurs prior to the close of business on the Business Day immediately preceding May 1, 2030, regardless of whether a Holder has the right to require the Company to repurchase the Notes pursuant to Section 15.02, or if the Company is a party to a Share Exchange Event (other than a Share Exchange Event that is solely for the purpose of changing the Company's jurisdiction of organization that (x) does not constitute a Fundamental Change or a Make-Whole Fundamental Change and (y) results in a reclassification, conversion or exchange of outstanding shares of the Common Stock solely into shares of common stock of the surviving entity and such common stock becomes Reference Property for the Notes) that occurs prior to the close of business on the Business Day immediately preceding May 1, 2030 (each such Fundamental Change, Make-Whole Fundamental Change or Share Exchange Event, a "**Corporate Event**"), all or any portion of a Holder's Notes may be surrendered for conversion at any time from or after the effective date of the Corporate Event until the earlier of (x) 35 Trading Days after the effective date of such Corporate Event or, if such Corporate Event also constitutes a Fundamental Change, until the close of business on the Business Day immediately preceding the related Fundamental Change Repurchase Date and (y) the second Scheduled Trading Day immediately preceding the Maturity Date. The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing no later than the effective date of such Corporate Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Prior to the close of business on the Business Day immediately preceding May 1, 2030, a Holder may surrender all or any portion of its Notes for conversion at any time during any calendar quarter commencing after the calendar quarter ending on September 30, 2025 (and only during such calendar quarter), if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days (whether or not consecutive) during the period of 30 consecutive Trading Days ending on, and including, the last Trading Day of the immediately preceding calendar quarter is greater than or equal to 130% of the Conversion Price on each applicable Trading Day.

Neither the Trustee nor the Conversion Agent shall have any obligation to make any calculation or to determine whether the Notes may be surrendered for conversion or to notify the Company, the Depositary or any Holders if the Notes have become convertible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) If the Company calls a Note for redemption pursuant to Article 16, then the Holder of such Note called for redemption may surrender such Note (or any portion thereof) called for redemption for conversion at any time from, and including, the Redemption Notice Date with respect to such Note until the close of business on the second Scheduled Trading Day immediately preceding the Redemption Date (or, if the Company defaults in the payment of the Redemption Price, until the close of business on the Scheduled Trading Day immediately preceding the date on which the Redemption Price has been paid or duly provided for (any such period, a "**Redemption Period**"). After that time, the right to convert such Note on account of the Company's delivery of the Redemption Notice shall expire. If the Company elects to redeem less than all of the outstanding Notes pursuant to an Optional Redemption pursuant to Article 16 and the Holder of any Note (or any owner of a beneficial interest in any Global Note) is reasonably not able to determine, before the close of business on the 44<sup>th</sup> Scheduled Trading Day immediately before the relevant Redemption Date, whether such Note or beneficial interest, as applicable, is to be redeemed pursuant to such Optional Redemption, then such Holder or owner, as applicable, will be entitled to convert such Note or beneficial interest, as applicable, at any time during the related Redemption Period, and each such conversion will be deemed to be of a Note called for redemption. The Trustee shall not be obligated to make any determination in connection with the foregoing.

Section 14.02. *Conversion Procedure; Settlement Upon Conversion*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to this Section 14.02, Section 14.03(b) and Section 14.07(a), upon conversion of any Note, the Company shall satisfy its Conversion Obligation by paying or delivering, as the case may be, to the converting Holder, in respect of each $1,000 principal amount of Notes being converted, cash ("**Cash Settlement**"), shares of Common Stock, together with cash, if applicable, in lieu of delivering any fractional share of Common Stock in accordance with subsection **(j)** of this **Section 14.02** ("**Physical Settlement**") or a combination of cash and shares of Common Stock, together with cash, if applicable, in lieu of delivering any fractional share of Common Stock in accordance with subsection (j) of this **Section 14.02** ("**Combination Settlement**"), at its election, as set forth in this **Section 14.02**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) All conversions for which the relevant Conversion Date occurs on or after May 1, 2030 or during a Redemption Period shall be settled using the same Settlement Method. Except for any conversions for which the relevant Conversion Date occurs on or after May 1, 2030 or during a Redemption Period, the Company shall use the same Settlement Method for all conversions with the same Conversion Date, but the Company shall not have any obligation to use the same Settlement Method with respect to conversions with different Conversion Dates. If, in respect of any Conversion Date (or applicable period, as the case may be), the Company elects to deliver a notice (the "**Settlement Notice**") of the relevant Settlement Method in respect of such Conversion Date (or such period, as the case may be), the Company shall deliver such Settlement Notice to converting Holders, the Trustee and the Conversion Agent (if other than the Trustee) no later than the close of business on the Trading Day immediately following the related Conversion Date (or, in the case of any conversions for which the relevant Conversion Date occurs (x) during a Redemption Period, in such Redemption Notice or (y) on or after May 1, 2030, no later than May 1, 2030) (in each case, the "**Settlement Method Election Deadline**"). Such Settlement Notice shall specify the relevant Settlement Method and in the case of an election of Combination Settlement, the relevant Settlement Notice shall indicate the Specified Dollar Amount per $1,000 principal amount of Notes. If the Company does not elect a Settlement Method prior to the relevant Settlement Method Election Deadline with respect to a conversion, the Company shall be deemed to have elected the Default Settlement Method with respect to such conversion. If the Company delivers a Settlement Notice prior to the relevant Settlement Method Election Deadline with respect to a conversion electing Combination Settlement (or is deemed to have elected Combination Settlement) in respect of its Conversion Obligation but does not indicate a Specified Dollar Amount per $1,000 principal amount of Notes to be converted in such Settlement Notice, and does not deliver an updated Settlement Notice with such Specified Dollar Amount listed then on or prior to the Settlement Method Election Deadline, the Specified Dollar Amount per $1,000 principal amount of Notes shall be deemed to be the Capped Combination Settlement Cash Amount or, following the date on which the limitation in Section 14.02(l) is no longer applicable, $1,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Following the date on which the limitation in Section 14.02(l) is no longer applicable, the Company may, from time to time, prior to May 1, 2030, change the Default Settlement Method by sending notice of the new Default Settlement Method to the Holders, the Trustee and the Conversion Agent (if other than the Trustee). In addition, the Company may, by notice to the Holders, the Trustee and the Conversion Agent (if other than the Trustee), following the date on which the limitation in Section 14.02(l) is no longer applicable and prior to May 1, 2030, at its option, elect to irrevocably fix the Settlement Method to any Settlement Method that the Company is then permitted to elect, including Combination Settlement with (x) a Specified Dollar Amount of $1,000 per $1,000 principal amount of Notes or (y) with an ability to continue to set the Specified Dollar Amount per $1,000 principal amount of Notes at or above any specific amount set forth in such election notice, *provided, however*, that the Company is not permitted to irrevocably elect solely Physical Settlement or any other method that could result in failure to comply with the Exchange Cap, if applicable. Concurrently with providing notice to all Holders of an election to change the Default Settlement Method or irrevocably fix the Settlement Method, the Company shall promptly either post an announcement on its website or issue a report on Form 8-K (or any successor form) disclosing such Default Settlement Method or irrevocably fixed Settlement Method. If the Company changes the Default Settlement Method or elects to irrevocably fix the Settlement Method, in either case, to Combination Settlement with an ability to continue to set the Specified Dollar Amount per $1,000 principal amount of Notes at or above a specified amount, the Company will, after the date of such change or election, as the case may be, inform Holders converting their Notes, the Trustee, and the Conversion Agent (if other than the Trustee) in writing of such Specified Dollar Amount no later than the relevant Settlement Method Election Deadline, or, if the Company does not timely notify Holders, such Specified Dollar Amount will be the specific amount set forth in the change or election notice or, if no specific amount was set forth in the change or election notice, such Specified Dollar Amount will be $1,000 per $1,000 principal amount of Notes. Such change in the Default Settlement Method or irrevocable election shall apply for all conversions of Notes with Conversion Dates occurring subsequent to delivery of such notice; provided, however, that no such change in the Default Settlement Method or irrevocable election will affect any Settlement Method theretofore elected (or deemed to be elected) with respect to any Note. For the avoidance of doubt, such an irrevocable election, if made, shall be effective without the need to amend this Indenture or the Notes, including pursuant to Section 10.01(1). However, the Company may nonetheless choose to execute such an amendment at its option. The Trustee and the Conversion Agent (if other than the Trustee) shall have no responsibility for any such election of a Settlement Method.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The cash, shares of Common Stock or combination of cash and shares of Common Stock in respect of any conversion of Notes (the "**Settlement Amount**") shall be computed as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) if the Company elects (or is deemed to have elected) to satisfy its Conversion Obligation in respect of such conversion by Physical Settlement, the Company shall deliver to the converting Holder in respect of each $1,000 principal amount of Notes being converted a number of shares of Common Stock equal to the Conversion Rate in effect on the Conversion Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) if the Company elects (or is deemed to have elected) to satisfy its Conversion Obligation in respect of such conversion by Cash Settlement, the Company shall pay to the converting Holder in respect of each $1,000 principal amount of Notes being converted cash in an amount equal to the sum of the Daily Conversion Values for each of the 25 consecutive Trading Days during the related Observation Period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) if the Company elects (or is deemed to have elected) to satisfy its Conversion Obligation in respect of such conversion by Combination Settlement, the Company shall pay or deliver, as the case may be, to the converting Holder in respect of each $1,000 principal amount of Notes being converted, a Settlement Amount equal to the sum of the Daily Settlement Amounts for each of the 25 consecutive Trading Days during the related Observation Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The Daily Settlement Amounts (if applicable) and the Daily Conversion Values (if applicable) shall be determined by the Company promptly following the last day of the Observation Period. Promptly and in any event within one Business Day following the last day of the Observation Period after such determination of the Daily Settlement Amounts or the Daily Conversion Values, as the case may be, and the amount of cash payable in lieu of delivering any fractional share of Common Stock, the Company shall notify the Trustee and the Conversion Agent (if other than the Trustee), in writing, of the Daily Settlement Amounts or the Daily Conversion Values, as the case may be, and the amount of cash payable in lieu of delivering fractional shares of Common Stock, subject to Applicable Procedures. The Trustee and the Conversion Agent (if other than the Trustee) shall have no responsibility for any such determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Notwithstanding anything to the contrary in this Indenture or the Notes, unless and until the date on which the limitation in Section 14.02(l) is no longer applicable, the Company shall be prohibited from electing Physical Settlement or Combination Settlement; *provided* that, prior to such date, the Company shall be permitted to elect Capped Combination Settlement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to Section 14.02(e), before any Holder of a Note shall be entitled to convert a Note as set forth above, such Holder shall in the case of a Global Note, comply with the Applicable Procedures in effect at that time and, if required, pay funds equal to the interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 14.02(h) and, if required, pay all transfer or similar taxes, if any, pursuant to Section 14.02(e) and in the case of a Physical Note or a Global Note not approved for processing through the Depositary, (1) complete, manually sign and deliver an irrevocable notice to the Conversion Agent as set forth in the Form of Notice of Conversion (or a PDF or other electronic transmission thereof (a "**Notice of Conversion**") at the office of the Conversion Agent and state in writing therein the principal amount of Notes to be converted and the name or names (with addresses) in which such Holder wishes the certificate or certificates for any shares of Common Stock to be delivered upon settlement of the Conversion Obligation to be registered, (2) surrender such Notes, duly endorsed to the Company or in blank (and accompanied by appropriate endorsement and transfer documents), at the office of the Conversion Agent, (3) if required, furnish appropriate endorsements and transfer documents, (4) if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 14.02(h) and (5) if required, pay all transfer or similar taxes, if any, pursuant to Section 14.02(e). The Trustee (and if different, the Conversion Agent) shall promptly notify the Company of any conversion pursuant to this Article 14. No Notice of Conversion with respect to any Notes may be surrendered by a Holder thereof if such Holder has also delivered a Fundamental Change Repurchase Notice to the Company in respect of such Notes and has not validly withdrawn such Fundamental Change Repurchase Notice in accordance with Section 15.03.

If more than one Note shall be surrendered for conversion at one time by the same Holder, the Conversion Obligation with respect to such Notes shall be computed on the basis of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted thereby) so surrendered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A Note shall be deemed to have been converted immediately prior to the close of business on the date (the "**Conversion Date**") that the Holder has complied with the requirements set forth in subsection (b) above. Except as set forth in Section 14.03(b) and Section 14.07(a), the Company shall pay or deliver, as the case may be, the consideration due in respect of the Conversion Obligation on the second Business Day following the relevant Conversion Date, if the Company elects Physical Settlement, or on the second Business Day immediately following the last Trading Day of the Observation Period, in the case of any other Settlement Method. If any shares of Common Stock are due to a converting Holder, the Company shall issue or cause to be issued, and deliver (if applicable) to the Conversion Agent or to such Holder, or such Holder's nominee or nominees, the full number of shares of Common Stock to which such Holder shall be entitled, in book-entry format through the Depositary, in satisfaction of the Company's Conversion Obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In case any Note shall be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to or upon the written order of the Holder of the Note so surrendered a new Note or Notes in authorized denominations in an aggregate principal amount equal to the unconverted portion of the surrendered Note, without payment of any service charge by the converting Holder but, if required by the Company or Trustee, with payment of a sum sufficient to cover any documentary, stamp or similar issue or transfer tax or similar governmental charge required by law or that may be imposed in connection therewith as a result of the name of the Holder of the new Notes issued upon such conversion being different from the name of the Holder of the old Notes surrendered for such conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If a Holder submits a Note for conversion, the Company shall pay any documentary, stamp or similar issue or transfer tax due on the issue of any shares of Common Stock upon conversion, unless the tax is due because the Holder requests such shares to be issued in a name other than the Holder's name, in which case the Holder shall pay that tax. The Company acting through its Common Stock transfer agent may refuse to deliver the certificates representing the shares of Common Stock being issued in a name other than the Holder's name until a sum sufficient to pay any tax that is due by such Holder in accordance with the immediately preceding sentence is paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Except as provided in Section 14.04, no adjustment shall be made for dividends on any shares of Common Stock issued upon the conversion of any Note as provided in this Article 14.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Upon the conversion of an interest in a Global Note, the Trustee, or the Custodian at the direction of the Trustee, shall make a notation on such Global Note as to the reduction in the principal amount represented thereby. The Company shall notify the Trustee in writing of any conversion of Notes effected through any Conversion Agent other than the Trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Upon conversion, a Holder shall not receive any separate cash payment for accrued and unpaid interest, if any, except as set forth below, and the Company will not adjust the Conversion Rate for any accrued and unpaid interest. The Company's settlement of the full Conversion Obligation shall be deemed to satisfy in full its obligation to pay the principal amount of the Note and accrued and unpaid interest, if any, to, but excluding, the relevant Conversion Date. As a result, accrued and unpaid interest, if any, to, but excluding, the relevant Conversion Date shall be deemed to be paid in full rather than cancelled, extinguished or forfeited. Upon a conversion of Notes, whether into cash or into a combination of cash and shares of Common Stock, accrued and unpaid interest will be deemed to be paid first out of the cash paid upon such conversion. Notwithstanding the foregoing, if Notes are converted after the close of business on a Regular Record Date but prior to the open of business on the immediately following Interest Payment Date, Holders of such Notes as of the close of business on such Regular Record Date will receive the full amount of interest payable on such Notes on such Interest Payment Date notwithstanding the conversion. However, Notes surrendered for conversion during the period from the close of business on any Regular Record Date to the open of business on the immediately following Interest Payment Date must be accompanied by funds equal to the amount of interest payable on the Notes so converted on the corresponding Interest Payment Date (regardless of whether the converting Holder was the Holder of record on the corresponding Regular Record Date); *provided* that no such payment shall be required (1) for conversions following the close of business on the Regular Record Date immediately preceding the Maturity Date; (2) if the Company has specified a Fundamental Change Repurchase Date that is after a Regular Record Date and on or prior to the Business Day immediately following the corresponding Interest Payment Date; (3) if the Company has specified a Redemption Date that is after a Regular Record Date and on or prior to the second Business Day immediately following the corresponding Interest Payment Date or (4) to the extent of any Defaulted Amounts, if any Defaulted Amounts exist at the time of conversion with respect to such Note. Therefore, for the avoidance of doubt, all Holders of record on the Regular Record Date immediately preceding the Maturity Date, any Redemption Date described in clause (3) above and any Fundamental Change Repurchase Date described in clause (2) above shall receive the full interest payment due on the Maturity Date or other applicable Interest Payment Date in cash regardless of whether their Notes have been converted, redeemed and/or repurchased, as applicable, following such Regular Record Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Person in whose name the shares of Common Stock shall be issuable upon conversion shall be treated as a stockholder of record as of the close of business on the relevant Conversion Date (if the Company elects to satisfy the related Conversion Obligation by Physical Settlement) or the last Trading Day of the relevant Observation Period (if the Company elects to satisfy the related Conversion Obligation by Combination Settlement), as the case may be. Upon a conversion of Notes, such Person shall no longer be a Holder of such Notes surrendered for conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Company shall not issue any fractional share of Common Stock upon conversion of the Notes and shall instead pay cash in lieu of delivering any fractional share of Common Stock issuable upon conversion based on the Daily VWAP for the relevant Conversion Date (or, if such Conversion Date is not a Trading Day, the immediately preceding Trading Day), in the case of Physical Settlement, or based on the Daily VWAP for the last Trading Day of the relevant Observation Period, in the case of Combination Settlement. For each Note surrendered for conversion, if the Company has elected (or is deemed to have elected) Combination Settlement, the full number of shares that shall be issued upon conversion thereof shall be computed on the basis of the aggregate Daily Settlement Amounts for the relevant Observation Period and any fractional shares remaining after such computation shall be paid in cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Whenever the Conversion Rate is adjusted as herein provided, the Company shall promptly file with the Trustee (and the Conversion Agent if not the Trustee) an Officer's Certificate setting forth (i) the adjusted Conversion Rate, (ii) the subsection of this Section 14.04 pursuant to which such adjustment has been made, showing in reasonable detail the facts upon which such adjustment is based and (iii) the date as of which such adjustment is effective (which certificates shall be conclusive evidence of the accuracy of such adjustment absent manifest error). Unless and until a Responsible Officer of the Trustee shall have received such Officer's Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume without inquiry that the last Conversion Rate of which it has knowledge is still in effect. Promptly after delivery of such certificate, the Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which each adjustment becomes effective and shall deliver such notice of such adjustment of the Conversion Rate to each Holder (copying the Trustee and Conversion Agent). Failure to deliver such notice shall not affect the legality or validity of any such adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Notwithstanding anything in this Agreement to the contrary, prior to receipt of the Stockholder Approval, the Company shall not issue any shares of Common Stock pursuant to the transactions contemplated by this Indenture (including any shares issued pursuant to conversions of the Notes), the Merger Agreement, the Contingent Payment Agreement or any warrants issued pursuant to the Merger Agreement or the Contingent Payment Agreement together with any transactions aggregated with the foregoing, if the issuance of such shares of Common Stock would exceed [__] (which number of shares represents 19.99% of the aggregate number of shares of Common Stock issued and outstanding as of the date of the Subscription Agreement) (the "**Exchange Cap**"), except that such limitation shall not apply in the event that the Company (A) obtains Stockholder Approval in accordance with Section 4.11 for issuances of shares of Common Stock in excess of such amount or (B) concludes, based on the advice of outside counsel to the Company that such approval is not required. The Exchange Cap shall be appropriately adjusted for any stock dividend, stock split, reverse stock split or similar transaction occurring after the date of the Subscription Agreement. For the avoidance of doubt, the limitations set forth in this Section 14.02(l) shall in no event affect the rights of any Holder in respect of any Conversion Obligation.

Section 14.03. *Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes or During a Redemption Period*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If (i) the Effective Date of a Make-Whole Fundamental Change occurs prior to the Maturity Date and a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change, or (ii) other than in connection with a Melinta Acquisition Redemption, the Company issues a Redemption Notice and a Holder elects to convert Notes during the related Redemption Period, the Company shall, under the circumstances described below, increase the Conversion Rate for the Notes so surrendered for conversion by a number of additional shares of Common Stock (the "**Additional Shares**"), as described below. A conversion of Notes shall be deemed for these purposes to be "in connection with" such Make-Whole Fundamental Change if the relevant Conversion Date occurs during the period from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the close of business on the Business Day immediately prior to the related Fundamental Change Repurchase Date (or, in the case of a Make-Whole Fundamental Change that would have been a Fundamental Change but for the proviso in clause (b) of the definition thereof, the 35<sup>th</sup> Trading Day immediately following the Effective Date of such Make-Whole Fundamental Change) (such period, the "**Make-Whole Fundamental Change Period**"). For the avoidance of doubt, the Company will increase the Conversion Rate during the related Redemption Period only with respect to Conversions of Notes called (or deemed called as contemplated by Section 14.01(b)(v)) for redemption (other than in connection with a Melinta Acquisition Redemption). Accordingly, if the Company elects to redeem less than all of the outstanding Notes as described under Article 16 in an Optional Redemption, Holders of the Notes not called for redemption will not be entitled to an increased Conversion Rate for conversions of such Notes (on account of the Redemption Notice) during the applicable Redemption Period, except in the limited circumstance set forth under Section 14.01 (b)(v).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental Change pursuant to Section 14.01(b)(iii) or during a Redemption Period, the Company shall pay or deliver, as the case may be, the consideration due in respect of such converted Notes, based on the Conversion Rate as (other than in connection with a Melinta Acquisition Redemption) increased to reflect the Additional Shares pursuant to the table set forth in Section 14.03(d) below, in accordance with Section 14.02; *provided*, *however*, that if, at the effective time of a Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change, the Reference Property following such Make-Whole Fundamental Change is composed entirely of cash, for any conversion of Notes following the Effective Date of such Make-Whole Fundamental Change, the Conversion Obligation shall be calculated based solely on the Stock Price for the transaction and shall be deemed to be an amount of cash per $1,000 principal amount of converted Notes equal to the Conversion Rate (including any adjustment for Additional Shares), *multiplied by* such Stock Price. In such event, the Conversion Obligation shall be paid to Holders in cash on the second Business Day following the Conversion Date. The Company shall notify in writing the Holders, the Trustee and the Conversion Agent (if other than the Trustee) of the Effective Date of any Make-Whole Fundamental Change in writing no later than five Business Days after such Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The number of Additional Shares, if any, by which the Conversion Rate shall be increased shall be determined by reference to the table below, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective (the "**Effective Date**") or the Redemption Notice Date, as applicable, and the price paid (or deemed to be paid) per share of the Common Stock in the Make-Whole Fundamental Change or on the Redemption Notice Date in an Optional Redemption (the "**Stock Price**"). If the holders of the Common Stock receive in exchange for their Common Stock only cash in a Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid per share. Otherwise, the Stock Price shall be the average of the Last Reported Sale Prices of the Common Stock over the five consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Effective Date of the Make-Whole Fundamental Change or the Redemption Notice Date in an Optional Redemption, as the case may be. In the event that a conversion during a Redemption Period would also be deemed to be in connection with a Make-Whole Fundamental Change, a Holder of the Notes to be converted will be entitled to a single increase to the Conversion Rate with respect to the first to occur of the applicable Redemption Notice Date or the Effective Date of the applicable Make-Whole Fundamental Change, and the later event will be deemed not to have occurred for purposes of this Section 14.03. The Board of Directors shall make appropriate adjustments to the Stock Price, in its good faith determination, to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date, Effective Date (as such term is used in Section 14.04) or Expiration Date of the event occurs during such five consecutive Trading Day period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Stock Prices set forth in the column headings of the table below shall be adjusted as of any date on which the Conversion Rate of the Notes is otherwise adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, *multiplied by* a fraction, the numerator of which is the Conversion Rate immediately prior to such adjustment giving rise to the Stock Price adjustment and the denominator of which is the Conversion Rate as so adjusted. The number of Additional Shares set forth in the table below shall be adjusted in the same manner and at the same time as the Conversion Rate as set forth in Section 14.04.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The following table sets forth the number of Additional Shares of Common Stock by which the Conversion Rate shall be increased per $1,000 principal amount of Notes pursuant to this Section 14.03 for each Stock Price and Effective Date or Redemption Notice Date, as applicable, set forth below:

---

| | | |
|:---|:---|:---|
| <br> **Stock Price<sup>2</sup>** | <br> **Stock Price<sup>2</sup>** | <br> **Stock Price<sup>2</sup>** |
| **Effective Date / Redemption Notice Date** | **$[__]** | **$[__]** |
| August [12], 2025 | [__] | [__] |
| August 1, 2026 | [__] | [__] |
| August 1, 2027 | [__] | [__] |
| August 1, 2028 | [__] | [__] |
| August 1, 2029 | [__] | [__] |
| August 1, 2030 | [__] | [__] |

---

<sup>2</sup> To be populated consistent with example make-whole tables circulated to investors.

The exact Stock Price and Effective Date or Redemption Notice Date may not be set forth in the table above, in which case:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Stock Price is between two Stock Prices in the table above or the Effective Date or Redemption Notice Date, as the case may be, is between two Effective Dates or Redemption Notice Dates, as applicable, in the table, the number of Additional Shares shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices and the earlier and later Effective Dates or Redemption Notice Dates, as applicable, based on a 365- or 366-day year, as applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the Stock Price is greater than $[___] per share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion Rate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if the Stock Price is less than $[___] per share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion Rate.

Notwithstanding the foregoing, in no event shall the Conversion Rate per $1,000 principal amount of Notes exceed [____] shares of Common Stock, subject to adjustment in the same manner as the Conversion Rate pursuant to Section 14.04.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Nothing in this Section 14.03 shall prevent an adjustment to the Conversion Rate pursuant to Section 14.04 in respect of a Make-Whole Fundamental Change.

Section 14.04. *Adjustment of Conversion Rate.* The Conversion Rate shall be adjusted from time to time by the Company if any of the following events occurs, except that the Company shall not make any adjustments to the Conversion Rate if Holders of the Notes participate (other than in the case of (x) a share split or share combination or (y) a tender or exchange offer), at the same time and upon the same terms as holders of the Common Stock and solely as a result of holding the Notes, in any of the transactions described in this Section 14.04, without having to convert their Notes, as if they held a number of shares of Common Stock equal to the Conversion Rate, *multiplied by* the principal amount (expressed in thousands) of Notes held by such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Company exclusively issues shares of Common Stock as a dividend or distribution on shares of the Common Stock, or if the Company effects a share split or share combination in respect of the shares of Common Stock, the Conversion Rate shall be adjusted based on the following formula:

![](ex4-1_002.jpg)

where,

CR<sub>0</sub> = the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the open of business on the Effective Date of such share split or share combination, as applicable;

CR' = the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date or Effective Date, as applicable;

OS<sub>0</sub> = the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date or Effective Date, as applicable, before giving effect to such dividend, distribution, share split or share combination; and

OS' = the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination.

Any adjustment made under this Section 14.04(a) shall become effective immediately after the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately after the open of business on the Effective Date for such share split or share combination, as applicable. If any dividend or distribution of the type described in this Section 14.04(a) is declared but not so paid or made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Company issues to all or substantially all holders of the Common Stock any rights, options or warrants (other than pursuant to a stockholders rights plan) entitling them, for a period of not more than 45 calendar days after the announcement date of such issuance, to subscribe for or purchase shares of the Common Stock at a price per share that is less than the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance, the Conversion Rate shall be increased based on the following formula:

![](ex4-1_003.jpg)

where,

CR<sub>0</sub> = the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such issuance;

CR' = the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;

OS<sub>0</sub> = the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date;

X = the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and

Y = the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, *divided by* the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of the issuance of such rights, options or warrants.

Any increase made under this Section 14.04(b) shall be made successively whenever any such rights, options or warrants are issued and shall become effective immediately after the open of business on the Ex-Dividend Date for such issuance. To the extent that shares of the Common Stock are not delivered after the expiration of such rights, options or warrants, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of only the number of shares of Common Stock actually delivered. If such rights, options or warrants are not so issued, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such Ex-Dividend Date for such issuance had not occurred.

For purposes of this Section 14.04(b) and for the purpose of Section 14.01(b)(ii)(A), in determining whether any rights, options or warrants entitle the holders of the Common Stock to subscribe for or purchase shares of the Common Stock at a price per share that is less than such average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement for such issuance, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights, options or warrants and any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be determined by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Company distributes shares of its Capital Stock, evidences of its indebtedness, other assets or property of the Company or rights, options or warrants to acquire its Capital Stock or other securities, to all or substantially all holders of the Common Stock, excluding (i) dividends, distributions or issuances (including share splits) as to which an adjustment was effected pursuant to Section 14.04(a) or Section 14.04(b), (ii) except as otherwise described in Section 14.11, rights issued pursuant to any stockholders rights plan of the Company then in effect, (iii) dividends or distributions paid exclusively in cash as to which the provisions set forth in Section 14.04(d) shall apply, (iv) dividends or distributions of Reference Property in exchange for or upon conversion of the Common Stock in a Share Exchange Event, and (v) Spin-Offs as to which the provisions set forth below in this Section 14.04(c) shall apply (any of such shares of Capital Stock, evidences of indebtedness, other assets or property or rights, options or warrants to acquire Capital Stock or other securities, the "**Distributed Property**"), then the Conversion Rate shall be increased based on the following formula:

![](ex4-1_004.jpg)

where,

CR<sub>0</sub> = the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;

CR' = the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;

SP<sub>0</sub> = the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and

FMV = the Fair Market Value (as determined by the Company) of the Distributed Property with respect to each outstanding share of the Common Stock on the Ex-Dividend Date for such distribution.

Any increase made under the portion of this Section 14.04(c) above shall become effective immediately after the open of business on the Ex-Dividend Date for such distribution. If such distribution is not so paid or made, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such distribution had not been declared. Notwithstanding the foregoing, if "FMV" (as defined above) is equal to or greater than "SP<sub>0</sub>" (as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, in respect of each $1,000 principal amount thereof, at the same time and upon the same terms as holders of the Common Stock receive the Distributed Property, the amount and kind of Distributed Property such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for the distribution. If the Board of Directors determines the "FMV" (as defined above) of any distribution for purposes of this Section 14.04(c) by reference to the actual or when-issued trading market for any securities, it shall in doing so consider the prices in such market over the same period used in computing the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution.

With respect to an adjustment pursuant to this Section 14.04(c) where there has been a payment of a dividend or other distribution on the Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the Company, that are, or, when issued, will be, listed or admitted for trading on a U.S. national securities exchange (a "**Spin-Off**"), the Conversion Rate shall be increased based on the following formula:

![](ex4-1_005.jpg)

where,

CR<sub>0</sub> = the Conversion Rate in effect immediately prior to the end of the Valuation Period;

CR' = the Conversion Rate in effect immediately after the end of the Valuation Period;

FMV<sub>0</sub> = the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of the Common Stock (determined by reference to the definition of Last Reported Sale Price as set forth in Section 1.01 as if references therein to Common Stock were to such Capital Stock or similar equity interest) over the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the Spin-Off (the "**Valuation Period**"); provided, that if there is no Last Reported Sale Price of the Capital Stock or similar equity interest distributed to holders of the Common Stock on such Ex-Dividend Date, the "Valuation Period" shall be the first 10 consecutive Trading Day period after, and including, the first date such Last Reported Sale Price is available; and

MP<sub>0 </sub> = the average of the Last Reported Sale Prices of the Common Stock over the Valuation Period.

The increase to the Conversion Rate under the preceding paragraph shall occur at the close of business on the last Trading Day of the Valuation Period; *provided* that (x) in respect of any conversion of Notes for which Physical Settlement is applicable, if the relevant Conversion Date occurs during the Valuation Period, the reference to "10" in the preceding paragraph shall be deemed to be replaced with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date of such Spin-Off to, and including, the Conversion Date in determining the Conversion Rate and (y) in respect of any conversion of Notes for which Cash Settlement or Combination Settlement is applicable, for any Trading Day that falls within the relevant Observation Period for such conversion and within the Valuation Period, the reference to "10" in the preceding paragraph shall be deemed to be replaced with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date of such Spin-Off to, and including, such Trading Day in determining the Conversion Rate as of such Trading Day of such Observation Period. If any dividend or distribution that constitutes a Spin-Off is declared but not so paid or made, the Conversion Rate shall be immediately decreased, effective as of the date the Board of Directors determines not to pay or make such dividend or distribution, to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared or announced.

For purposes of this Section 14.04(c) (and subject in all respect to Section 14.11), rights, options or warrants distributed by the Company to all holders of the Common Stock entitling them to subscribe for or purchase shares of the Company's Capital Stock, including Common Stock (either initially or under certain circumstances), which rights, options or warrants, until the occurrence of a specified event or events ("**Trigger Event**"): (i) are deemed to be transferred with such shares of the Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of the Common Stock, shall be deemed not to have been distributed for purposes of this Section 14.04(c) (and no adjustment to the Conversion Rate under this Section 14.04(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under this Section 14.04(c). If any such right, option or warrant, including any such existing rights, options or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and Ex-Dividend Date with respect to new rights, options or warrants with such rights (in which case the existing rights, options or warrants shall be deemed to terminate and expire on such date without exercise by any of the holders thereof. In addition, in the event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in the immediately preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate under this Section 14.04(c) was made, (1) in the case of any such rights, options or warrants that shall all have been redeemed or purchased without exercise by any holders thereof, upon such final redemption or purchase (x) the Conversion Rate shall be readjusted as if such rights, options or warrants had not been issued and (y) the Conversion Rate shall then again be readjusted to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or purchase price received by a holder or holders of Common Stock with respect to such rights, options or warrants (assuming such holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such redemption or purchase, and (2) in the case of such rights, options or warrants that shall have expired or been terminated without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights, options and warrants had not been issued.

For purposes of Section 14.04(a), Section 14.04(b) and this Section 14.04(c), if any dividend or distribution to which this Section 14.04(c) is applicable also includes one or both of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) a dividend or distribution of shares of Common Stock to which Section 14.04(a) is applicable (the "**Clause A Distribution**"); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) a dividend or distribution of rights, options or warrants to which Section 14.04(b) is applicable (the "**Clause B Distribution**"),

then, in either case, (1) such dividend or distribution, other than the Clause A Distribution and the Clause B Distribution, shall be deemed to be a dividend or distribution to which this Section 14.04(c) is applicable (the "**Clause C Distribution**") and any Conversion Rate adjustment required by this Section 14.04(c) with respect to such Clause C Distribution shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall be deemed to immediately follow the Clause C Distribution and any Conversion Rate adjustment required by Section 14.04(a) and Section 14.04(b) with respect thereto shall then be made, except that, if determined by the Company (I) the "Ex-Dividend Date" of the Clause A Distribution and the Clause B Distribution shall be deemed to be the Ex-Dividend Date of the Clause C Distribution and (II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution shall be deemed not to be "outstanding immediately prior to the open of business on such Ex-Dividend Date or Effective Date" within the meaning of Section 14.04(a) or "outstanding immediately prior to the open of business on such Ex-Dividend Date" within the meaning of Section 14.04(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If any cash dividend or distribution is made to all or substantially all holders of the Common Stock, the Conversion Rate shall be adjusted based on the following formula:

![](ex4-1_006.jpg)

where,

CR<sub>0</sub> = the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution;

CR' = the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution;

SP<sub>0</sub> = the Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and

C = the amount in cash per share the Company distributes to all or substantially all holders of the Common Stock.

Any increase pursuant to this Section 14.04(d) shall become effective immediately after the open of business on the Ex-Dividend Date for such dividend or distribution. If such dividend or distribution is not so paid, the Conversion Rate shall be decreased, effective as of the date the Board of Directors determines not to make or pay such dividend or distribution, to be the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. Notwithstanding the foregoing, if "C" (as defined above) is equal to or greater than "SP<sub>0</sub>" (as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, for each $1,000 principal amount of Notes, at the same time and upon the same terms as holders of shares of the Common Stock, the amount of cash that such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the Ex-Dividend Date for such cash dividend or distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If the Company or any of its Subsidiaries makes a payment in respect of a tender or exchange offer for the Common Stock that is subject to the then-applicable tender offer rules under the Exchange Act (other than an odd lot tender offer), to the extent that the cash and value of any other consideration included in the payment per share of the Common Stock exceeds the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer, the Conversion Rate shall be increased based on the following formula:

![](ex4-1_007.jpg)

where,

CR<sub>0</sub> = the Conversion Rate in effect immediately prior to the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires (the date such tender offer or exchange offer expires, the "**Expiration Date**");

CR' = the Conversion Rate in effect immediately after the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date;

AC = the aggregate value of all cash and any other consideration (as determined by the Company) paid or payable for shares of Common Stock purchased in such tender or exchange offer;

OS<sub>0</sub> = the number of shares of Common Stock outstanding immediately prior to the Expiration Date (prior to giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer);

OS' = the number of shares of Common Stock outstanding immediately after the Expiration Date (after giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer); and

SP' = the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Expiration Date.

The increase to the Conversion Rate under this Section 14.04(e) shall occur at the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires; *provided* that (x) in respect of any conversion of Notes for which Physical Settlement is applicable, if the relevant Conversion Date occurs during the 10 Trading Days immediately following, and including, the Trading Day next succeeding the Expiration Date of any tender or exchange offer, references to "10" or "10th" in the preceding paragraph shall be deemed replaced with such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the date that such tender or exchange offer expires to, and including, the Conversion Date in determining the Conversion Rate and (y) in respect of any conversion of Notes for which Cash Settlement or Combination Settlement is applicable, for any Trading Day that falls within the relevant Observation Period for such conversion and within the 10 Trading Days immediately following, and including, the Trading Day next succeeding the Expiration Date of any tender or exchange offer, references to "10" or "10th" in the preceding paragraph shall be deemed replaced with such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Expiration Date of such tender or exchange offer to, and including, such Trading Day in determining the Conversion Rate as of such Trading Day of such Observation Period.

In the event that the Company or one of its Subsidiaries is obligated to purchase shares of Common Stock pursuant to any such tender offer or exchange offer, but the Company is, or such Subsidiary is, permanently prevented by applicable law from consummating any such purchases, or all such purchases are rescinded, then the Conversion Rate shall be decreased to be the Conversion Rate that would then be in effect if such tender offer or exchange offer had not been made or had been made only in respect of the purchases that have been consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Except as stated herein, the Company shall not adjust the Conversion Rate for the issuance of shares of the Common Stock or any securities convertible into or exchangeable for shares of the Common Stock or the right to purchase shares of the Common Stock or such convertible or exchangeable securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) In addition to those adjustments required by clauses (a), (b), (c), (d) and (e) of this Section 14.04, and to the extent permitted by applicable law and subject to the applicable stock exchange rules, the Company from time to time may increase the Conversion Rate by any amount for a period of at least 20 Business Days if the Board of Directors determines that such increase would be in the Company's best interest. In addition, to the extent permitted by applicable law and subject to the applicable stock exchange rules, the Company may (but is not required to) increase the Conversion Rate to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock in connection with a dividend or distribution of shares of Common Stock (or rights to acquire shares of Common Stock) or similar event. Whenever the Conversion Rate is increased pursuant to either of the preceding two sentences, the Company shall deliver to the Holder of each Note, the Trustee and the Conversion Agent a notice of the increase at least 15 days prior to the date the increased Conversion Rate takes effect, and such notice shall state the increased Conversion Rate and the period during which it will be in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Notwithstanding anything to the contrary in this Article 14, the Conversion Rate shall not be adjusted:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Upon the issuance of any shares of Common Stock at a price below the Conversion Price or otherwise, other than any such issuance described in Section 14.04(a), (b), or (c) above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) upon the issuance of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on the Company's securities and the investment of additional optional amounts in shares of Common Stock under any plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) upon the issuance of any shares of Common Stock or options or rights to purchase those shares pursuant to any present or future employee, director or consultant or incentive benefit plan (including pursuant to any evergreen plan) or program of or assumed by the Company or any of the Company's Subsidiaries or in connection with any such shares withheld by the Company for tax withholding purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) upon the issuance of any shares of the Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or convertible security not described in clause (iii) of this subsection and outstanding as of the date the Notes were first issued;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) for a tender offer by any party other than a tender offer by the Company or one or more of the Company's Subsidiaries as described in Section 14.04(e);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) upon the repurchase of any shares of Common Stock pursuant to an open market share repurchase program or other buy-back transaction (including, without limitation, through any structured or derivative transactions such as accelerated share repurchase transactions or similar forward derivatives), that is not a tender offer or exchange offer of the nature described in Section 14.04(e);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) solely for a change in the par value (or lack of par value) of the Common Stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) for accrued and unpaid interest, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Company will not be required to adjust the applicable Conversion Rate pursuant to clauses (a), (b), (c), (d) or (e) of this Section 14.04 unless the adjustment would result in a change of at least 1% in the then effective Conversion Rate. However, the Company will defer and carry forward any adjustment to such Conversion Rate that the Company would otherwise have to make and take that adjustment into account in any subsequent adjustment. Notwithstanding the foregoing, all such carried-forward adjustments shall be made with respect to the Notes: (i) when all such deferred adjustments would result in an aggregate change of at least 1% to the Conversion Rate; (ii) on the Conversion Date for any Note (in the case of Physical Settlement), (iii) on each Trading Day of the applicable Observation Period for any Note (in the case of Cash Settlement or Combination Settlement); (iv) on the date a Fundamental Change or Make-Whole Fundamental Change occurs; (v) on any date on which the Company delivers a Redemption Notice; and (vi) for any adjustments that have not been made prior to May 1, 2030, on May 1, 2030. All calculations and other determinations under this Article 14 shall be made by the Company and shall be made to the nearest one-ten thousandth (1/10,000th) of a share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Whenever the Conversion Rate is adjusted as herein provided, the Company shall promptly file with the Trustee (and the Conversion Agent if not the Trustee) an Officer's Certificate setting forth the Conversion Rate after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Neither the Trustee nor the Conversion Agent shall have any responsibility to verify the accuracy of any adjustment to the Conversion Rate. Unless and until a Responsible Officer of the Trustee shall have received such Officer's Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume without inquiry that the last Conversion Rate of which it has knowledge is still in effect. Promptly after delivery of such certificate, the Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which each adjustment becomes effective and shall deliver such notice of such adjustment of the Conversion Rate to each Holder. Failure to deliver such notice shall not affect the legality or validity of any such adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) For purposes of this Section 14.04, the number of shares of Common Stock at any time outstanding shall not include shares of Common Stock held in the treasury of the Company so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company, but shall include shares of Common Stock issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock.

Section 14.05. *Adjustments of Prices.* Whenever any provision of this Indenture requires the Company to calculate the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts over a span of multiple days (including an Observation Period and the period for determining the Stock Price for purposes of a Make-Whole Fundamental Change or Optional Redemption), the Company shall make appropriate adjustments (without duplication in respect of any adjustment made pursuant to Section 14.04) to each to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date, Effective Date or Expiration Date, as the case may be, of the event occurs, at any time during the period when the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts are to be calculated.

Section 14.06. *Shares to Be Fully Paid.* The Company shall reserve, free from preemptive rights, out of its authorized but unissued shares or shares held in treasury, sufficient shares of Common Stock to provide for conversion of the Notes from time to time as such Notes are presented for conversion (assuming delivery of the maximum number of Additional Shares pursuant to Section 14.03 and that at the time of computation of such number of shares, all such Notes would be converted by a single Holder and that Physical Settlement were applicable).

Section 14.07. *Effect of Recapitalizations, Reclassifications and Changes of the Common Stock*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the case of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any recapitalization, reclassification or change of the Common Stock (other than changes in par value or resulting from a subdivision or combination),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any consolidation, merger or combination involving the Company,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any sale, lease or other transfer to a third party of all or substantially all of the consolidated assets of the Company and the Company's Subsidiaries, taken as a whole, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any statutory share exchange,

in each case, as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets (including cash or any combination thereof (any such event, a "**Share Exchange Event**"), then at and after the effective time of such Share Exchange Event, the right to convert each $1,000 principal amount of Notes shall be changed into a right to convert such principal amount of Notes into the kind and amount of shares of stock, other securities or other property or assets (including cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the Conversion Rate immediately prior to such Share Exchange Event would have owned or been entitled to receive (the "**Reference Property**," with each "**unit of Reference Property**" meaning the kind and amount of Reference Property that a holder of one share of Common Stock is entitled to receive) upon such Share Exchange Event and, prior to or at the effective time of such Share Exchange Event, the Company or the successor or acquiring Person, as the case may be, shall execute with the Trustee a supplemental indenture permitted under Section 10.01(g) providing for such change in the right to convert each $1,000 principal amount of Notes; *provided*, *however*, that at and after the effective time of the Share Exchange Event (A) the Company or the successor or acquiring company, as the case may be, shall continue to have the right to determine the form of consideration to be paid or delivered, as the case may be, upon conversion of Notes in accordance with **Section 14.02** and (B) (I) any amount payable in cash upon conversion of the Notes in accordance with **Section 14.02** shall continue to be payable in cash, (II) any shares of Common Stock that the Company would have been required to deliver upon conversion of the Notes in accordance with **Section 14.02** shall instead be deliverable in the amount and type of Reference Property that a holder of that number of shares of Common Stock would have received in such Share Exchange Event and (III) the Daily VWAP shall be calculated based on the value of a unit of Reference Property.

If the Share Exchange Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single type of consideration (determined based in part upon any form of stockholder election), then (i) the Reference Property into which the Notes will be convertible shall be deemed to be the weighted average of the types and amounts of consideration actually received by the holders of Common Stock, and (ii) the unit of Reference Property for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable to one share of Common Stock. If the holders of the Common Stock receive only cash in such Share Exchange Event, then for all conversions for which the relevant Conversion Date occurs after the effective date of such Share Exchange Event (A) the consideration due upon conversion of each $1,000 principal amount of Notes shall be solely cash in an amount equal to the Conversion Rate in effect on the Conversion Date (as may be increased by any Additional Shares pursuant to Section 14.03), *multiplied by* the price paid per share of Common Stock in such Share Exchange Event and (B) the Company shall satisfy the Conversion Obligation by paying such cash amount to converting Holders on the second Business Day immediately following the relevant Conversion Date. The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing of such weighted average as soon as reasonably practicable after such determination is made.

If the Reference Property in respect of any Share Exchange Event includes, in whole or in part, shares of Common Equity or equity-linked securities, such supplemental indenture described in the second immediately preceding paragraph shall provide for anti-dilution and other adjustments that shall be as nearly equivalent as is possible to the adjustments provided for in this Article 14 with respect to the portion of the Reference Property consisting of such common equity or equity-linked securities. If, in the case of any Share Exchange Event, the Reference Property includes shares of stock, securities or other property or assets (other than cash and/or cash equivalents) of a Person other than the successor or purchasing corporation, as the case may be, in such Share Exchange Event, then such supplemental indenture shall also be executed by such other Person, if such other Person is an affiliate of the Company or the successor or acquiring company, and shall contain such additional provisions to protect the interests of the Holders of the Notes as the Board of Directors (or an authorized committee thereof) shall reasonably consider necessary by reason of the foregoing, including the provisions providing for the purchase rights set forth in Article 15.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) When the Company executes a supplemental indenture pursuant to subsection (a) of this Section 14.07, the Company shall promptly file with the Trustee an Officer's Certificate briefly stating the reasons therefor, the kind or amount of cash, securities or property or asset that will comprise a unit of Reference Property after any such Share Exchange Event, any adjustment to be made with respect thereto and that all conditions precedent have been complied with, and shall promptly deliver or cause to be delivered notice thereof to all Holders. The Company shall cause notice of the execution of such supplemental indenture to be delivered to each Holder within 20 days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company shall not become a party to any Share Exchange Event unless its terms are consistent with this Section 14.07. None of the foregoing provisions shall affect the right of a Holder of Notes to convert its Notes into cash or a combination of cash and shares of Common Stock as set forth in Section 14.01 and Section 14.02 prior to the effective date of such Share Exchange Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The above provisions of this Section shall similarly apply to successive Share Exchange Events.

Section 14.08. *Certain Covenants.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to Sections 14.02(d) and 14.02(e), the Company covenants that all shares of Common Stock issued upon conversion of Notes will be fully paid and non-assessable by the Company and free from all taxes, liens and charges with respect to the issue thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company covenants that, if any shares of Common Stock to be provided for the purpose of conversion of Notes hereunder require registration with or approval of any governmental authority under any federal or state law before such shares of Common Stock may be validly issued upon conversion, the Company will, to the extent then permitted by the rules and interpretations of the Commission, secure such registration or approval, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company further covenants that if at any time the Common Stock shall be listed on any national securities exchange or automated quotation system the Company will list and use its commercially reasonable efforts to keep listed, so long as the Common Stock shall be so listed on such exchange or automated quotation system, any Common Stock issuable upon conversion of the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Other than the Melinta Acquisition, the Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security that would be integrated with the offer or sale of the Notes or shares of Common Stock issuable upon conversion of the Notes in a manner that would be integrated with the offer or sale of the Notes or such shares of Common Stock for purposes of the rules and regulations of the Designated Exchange.

Section 14.09. *Responsibility of Trustee.* The Trustee and any other Conversion Agent shall not at any time be under any duty or responsibility to any Holder to determine the Conversion Rate (or any adjustment thereto) or whether any facts exist that may require any adjustment (including any increase) of the Conversion Rate, or with respect to the nature or extent or calculation of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee and any other Conversion Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock, or of any securities, property or cash that may at any time be issued or delivered upon the conversion of any Note; and the Trustee and any other Conversion Agent make no representations with respect thereto. Neither the Trustee nor any Conversion Agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of Common Stock or stock certificates or other securities or property or cash upon the surrender of any Note for the purpose of conversion or to comply with any of the duties, responsibilities or covenants of the Company contained in this Article. Without limiting the generality of the foregoing, neither the Trustee nor any Conversion Agent shall be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture entered into pursuant to Section 14.07 relating either to the kind or amount of shares of stock or securities or property (including cash) receivable by Holders upon the conversion of their Notes after any event referred to in such Section 14.07 or to any adjustment to be made with respect thereto, but, subject to the provisions of Section 7.01, may accept (without any independent investigation) as conclusive evidence of the correctness of any such provisions, and shall be protected in relying upon, the Officer's Certificate (which the Company shall be obligated to file with the Trustee prior to the execution of any such supplemental indenture) with respect thereto. Neither the Trustee nor the Conversion Agent shall be responsible for determining whether any event contemplated by Section 14.01(b) has occurred that makes the Notes eligible for conversion or no longer eligible therefor. The Trustee and the Conversion Agent may conclusively rely upon any notice with respect to the commencement or termination of such conversion rights, and the Company agrees to deliver such notices to the Trustee and the Conversion Agent immediately after the occurrence of any such event or at such other times as shall be provided for in Section 14.01(b). Neither the Trustee nor the Conversion Agent shall have any obligation to make any calculation or to determine whether the Notes may be surrendered for conversion pursuant to this Indenture, or to notify the Company or the Depositary or any of the Holders if the Notes have become convertible pursuant to the terms of this Indenture.

Section 14.10. *Notice to Holders Prior to Certain Actions*. In case of any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) action by the Company or one of its Subsidiaries that would require an adjustment in the Conversion Rate pursuant to Section 14.04 or Section 14.11;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Share Exchange Event; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) voluntary or involuntary dissolution, liquidation or winding-up of the Company;

then, in each case (unless notice of such event is otherwise required pursuant to another provision of this Indenture) and to the extent applicable, the Company shall cause to be filed with the Trustee and the Conversion Agent (if other than the Trustee) and to be delivered to each Holder, a notice stating the date on which a record is to be taken for the purpose of such action by the Company or one of its Subsidiaries or, if a record is not to be taken, the date as of which the holders of Common Stock of record are to be determined for the purposes of such action by the Company or one of its Subsidiaries no later than the earlier of the date notice of such date is required to be provided under Rule 10b-17 of the Exchange Act, other applicable Commission rule or applicable rules of the principal U.S. national or regional securities exchange on which the Common Stock is then listed or admitted for trading and such date is publicly announced by the Company. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such action by the Company or one of its Subsidiaries, Share Exchange Event, dissolution, liquidation or winding-up.

Section 14.11. *Stockholder Rights Plans.* If the Company has a stockholder rights plan in effect upon conversion of the Notes, each share of Common Stock, if any, issued upon such conversion shall be entitled to receive the appropriate number of rights, if any, under such stockholder rights plan and the certificates representing the Common Stock issued upon such conversion shall bear such legends, if any, in each case as may be provided by the terms of any such stockholder rights plan, as the same may be amended from time to time. However, if, prior to any conversion of Notes, the rights have separated from the shares of Common Stock in accordance with the provisions of the applicable stockholder rights plan, the Conversion Rate shall be adjusted at the time of separation as if the Company distributed to all or substantially all holders of the Common Stock Distributed Property as provided in the first paragraph of Section 14.04(c), subject to readjustment in the event of the expiration, termination or redemption of such rights.

Section 14.12. *Exchange in Lieu of Conversion.* When a Holder surrenders its Notes for conversion, the Company may, at its election (an "**Exchange Election**"), cause such Notes to be delivered on or prior to the first Trading Day following the Conversion Date to one or more financial institutions designated by the Company for exchange in lieu of conversion. In order to accept any Notes surrendered for conversion, the designated financial institution must agree to timely deliver, in exchange for such Notes, the cash, shares of Common Stock or combination thereof that would otherwise be due upon conversion as described in Section 14.02 (the "**Conversion Consideration**"). If the Company makes an Exchange Election, the Company shall, by the close of business on the first Trading Day following the relevant Conversion Date, notify the Trustee, the Conversion Agent and the Holder surrendering its Notes for conversion that it has made the Exchange Election, and the Company shall notify the designated financial institution(s) of the relevant deadline for delivery of the Conversion Consideration and the type of Conversion Consideration to be paid and/or delivered, as the case may be. The Company, the Holder surrendering its Notes for conversion, and the Conversion Agent shall cooperate to cause such Notes to be delivered to the financial institution, and the Conversion Agent shall be entitled to conclusively rely upon the Company's instruction in connection with effecting such Exchange Election and shall have no liability in respect of such Exchange Election outside its control.

Any Notes exchanged by the designated financial institution(s), subject to Applicable Procedures, shall remain outstanding, notwithstanding the surrender thereof by the Holder of such Notes. If the designated financial institution(s) agree(s) to accept any Notes for exchange but does not timely pay and/or deliver, as the case may be, the related Conversion Consideration, or if such designated financial institution does not accept the Notes for exchange, the Company shall notify the Trustee, the Conversion Agent and the Holder surrendering its Notes for conversion, and pay and/or deliver, as the case may be, the relevant Conversion Consideration as if the Company had not made an Exchange Election.

The Company's designation of any financial institution to which the Notes may be submitted for exchange does not require such financial institution to accept any Notes (unless the financial institution has separately made an agreement with the Company). The Company may, but shall not be obligated to, enter into a separate agreement with any designated financial institution that would compensate it for any such transaction. The Company will comply and will cause the designated financial institution(s) to comply with the Applicable Procedures.

Section 14.13. *Beneficial Ownership Limitations*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding anything to the contrary in this Indenture, at the election of any Holder made by written notice to the Company, such Holder will not be entitled to receive shares of Common Stock upon conversion of Notes and no conversion of Notes shall take place for such Holder to the extent (but only to the extent) that such receipt of (or conversion into) shares of Common Stock would cause such Holder (together with the Holder's Affiliates, and any other Persons acting as a "group" together with such Holder or any of the Holder's Affiliates (such Persons, "**Attribution Parties**")) to beneficially own shares of Common Stock in excess of the Beneficial Ownership Limitations. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon conversion of any Notes with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted principal amount of Notes beneficially owned by such Holder and its Affiliates and Attribution Parties and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, any other Notes) beneficially owned by such Holder and its Affiliates and Attribution Parties. Except as set forth in the preceding sentence, for purposes of this provision, beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. Any purported delivery of shares of Common Stock upon conversion of the Notes shall be void and have no effect to the extent (but only to the extent) that such delivery would result in the converting Holder violating the Beneficial Ownership Limitations, if applicable to such Holder. Solely for the purpose of this **<u>Section 14.13</u>**, in the case of Global Notes, "Holder" shall mean any Person that holds a beneficial interest in, or any beneficial owner of, the Notes and not the Depositary or its nominee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To the extent that the limitation contained in this **<u>Section 14.13</u>** applies, the determination of whether any Notes are convertible (in relation to other securities beneficially owned by any Holder) and of which principal amount of such Notes are convertible shall be in the sole discretion of any Holder, and the submission of a Notice of Conversion shall be deemed to be such Holder's determination of whether any Notes may be converted (in relation to other securities beneficially owned by the Holder) and which principal amount such Notes are convertible, in each case subject to the Beneficial Ownership Limitations. To ensure compliance with this restriction, such Holder shall be deemed to represent to the Company each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this **<u>Section 14.13</u>** and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any "group" status as contemplated in this Section 14.13 shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For the avoidance of doubt, no breach, Default or Event of Default shall occur hereunder if the Company, in reliance on a Holder's Notice of Conversion, converts shares of Common Stock for such Holder that, either on the applicable settlement date or cumulatively, causes such Holder to exceed the Beneficial Ownership Limitations, if applicable to such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For purposes of this **<u>Section 14.13</u>**, in determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as stated in the most recent of the following: (i) the Company's most recent periodic or annual report filed with the Commission, as the case may be, (ii) a more recent public announcement by the Company, or (iii) a more recent written notice by the Company to such Holder setting forth the number of shares of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing to the Holder the number of shares of Common Stock then outstanding. In any case, for the purposes of this Section 14.13(c), the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including the Notes, by the Holder since the date as of which such number of outstanding shares of Common Stock was reported.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The "**General Beneficial Ownership Limitation**" shall be 9.9% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock in the applicable conversion of Notes. The Holder, upon prior written notice to the Company, may elect a beneficial ownership limit as to such Holder (but not as to any other Holder) (such limit, a "**Holder Beneficial Ownership Limitation**" and together with the General Beneficial Ownership Limitation, the "**Beneficial Ownership Limitations**") that is less than or equal to the General Beneficial Ownership Limitations then applicable to the Holders. Any Holder Beneficial Ownership Limitations will be effective as of (i) the issue date for the Notes, for any notice delivered prior to the issuance of the Notes, (ii) the 61<sup>st</sup> day after such notice is delivered to the Company with respect to any notice increasing the applicable Holder Beneficial Ownership Limitation and (iii) immediately upon delivery of such notice to the Company in the event such notice decreases the applicable Holder Beneficial Ownership Limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Any Notes surrendered for conversion for which shares of Common Stock are not delivered due to the Beneficial Ownership Limitations shall not be extinguished and, such Holder may either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) request return of the Notes surrendered by such Holder for conversion, after which the Company shall deliver such Notes to such Holder within two Trading Days after receipt of such request; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) when and if able, certify to the Company that the Person (or Persons) receiving shares of Common Stock upon conversion is not, and would not, as a result of such conversion, become the beneficial owner of shares of Common Stock outstanding at such time in excess of the applicable Beneficial Ownership Limitations, after which the Company shall deliver any such shares of Common Stock withheld on account of such applicable Beneficial Ownership Limitations by the later of (x) the date such shares were otherwise due to such Person (or Persons) and (y) two Trading Days after receipt of such certification; *provided*, *however*, until such time as the affected Holder gives such notice, no Person shall be deemed to be the stockholder of record with respect to the shares of Common Stock otherwise deliverable upon conversion in excess of any applicable Beneficial Ownership Limitations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Neither the Trustee nor the Conversion Agent (if other than the Trustee) shall be responsible for monitoring, determining or verifying the Beneficial Ownership or for whether any transfer complies with the limitations herein.

ARTICLE 15<br> REPURCHASE OF NOTES AT OPTION OF HOLDERS

Section 15.01. [*Intentionally Omitted*],

Section 15.02. *Repurchase at Option of Holders Upon a Fundamental Change*. (a) If a Fundamental Change occurs at any time prior to the Maturity Date, each Holder shall have the right, at such Holder's option, to require the Company to repurchase for cash all of such Holder's Notes, or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple of $1,000, on the date (the "**Fundamental Change Repurchase Date**") specified by the Company that is not less than 20 Business Days or more than 35 Business Days following the date of the Fundamental Change Company Notice at a repurchase price equal to 100% of the principal amount thereof, *plus* accrued and unpaid interest thereon to, but excluding, the Fundamental Change Repurchase Date (the "**Fundamental Change Repurchase Price**"), unless the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest (to, but excluding, such Interest Payment Date) to Holders of record as of the close of business on such Regular Record Date, and the Fundamental Change Repurchase Price shall be equal to 100% of the principal amount of Notes to be repurchased pursuant to this Article 15. The Fundamental Change Repurchase Date shall be subject to postponement in order to allow the Company to comply with applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Repurchases of Notes under this Section 15.02 shall be made, at the option of the Holder thereof, upon:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) delivery to the Paying Agent by a Holder of a duly completed notice (the "**Fundamental Change Repurchase Notice**") in the form set forth in Attachment 2 to the Form of Note attached hereto as Exhibit A, if the Notes are Physical Notes, or in compliance with the Applicable Procedures for surrendering interests in Global Notes, if the Notes are Global Notes, in each case on or before the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) delivery of the Notes, if the Notes are Physical Notes, to the Paying Agent at any time after delivery of the Fundamental Change Repurchase Notice (together with all necessary endorsements for transfer) at the office of the Paying Agent, or book-entry transfer of the Notes, if the Notes are Global Notes, in compliance with the Applicable Procedures, in each case such delivery being a condition to receipt by the Holder of the Fundamental Change Repurchase Price therefor.

The Fundamental Change Repurchase Notice in respect of any Notes to be repurchased shall state:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in the case of Physical Notes, the certificate numbers of the Notes to be delivered for repurchase;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the portion of the principal amount of Notes to be repurchased, which must be in minimum denominations of $1,000 or an integral multiple thereof; and (iii) that the Notes are to be repurchased by the Company pursuant to the applicable provisions of the Notes and this Indenture;

*provided*, *however*, that if the Notes are Global Notes, the Fundamental Change Repurchase Notice must comply with the Applicable Procedures.

Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Repurchase Notice contemplated by this Section 15.02 shall have the right to withdraw, in whole or in part, such Fundamental Change Repurchase Notice at any time prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 15.03 or in accordance with Applicable Procedures.

The Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental Change Repurchase Notice or written notice of withdrawal thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) On or before the 20th Business Day after the occurrence of the effective date of a Fundamental Change, the Company shall provide to all Holders of Notes, the Trustee, the Conversion Agent (if other than the Trustee) and the Paying Agent (in the case of a Paying Agent other than the Trustee) a written notice (the "**Fundamental Change Company Notice**") of the occurrence of the effective date of the Fundamental Change and of the repurchase right at the option of the Holders arising as a result thereof. In the case of Physical Notes, such notice shall be by first class mail or, in the case of Global Notes, such notice shall be delivered in accordance with the Applicable Procedures of the Depositary. Each Fundamental Change Company Notice shall specify:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the events causing the Fundamental Change;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the effective date of the Fundamental Change;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the last date on which a Holder may exercise the repurchase right pursuant to this Article 15;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Fundamental Change Repurchase Price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Fundamental Change Repurchase Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the name and address of the Paying Agent and the Conversion Agent, if applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) if applicable, the Conversion Rate and any adjustments to the Conversion Rate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) that the Notes with respect to which a Fundamental Change Repurchase Notice has been delivered by a Holder may be converted only if the Holder withdraws the Fundamental Change Repurchase Notice in accordance with the terms of this Indenture; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) the procedures that Holders must follow to require the Company to repurchase their Notes.

No failure of the Company to give the foregoing notices and no defect therein shall limit the Holders' repurchase rights or affect the validity of the proceedings for the repurchase of the Notes pursuant to this Section 15.02.

At the Company's request, given at least five days prior to the date the Fundamental Change Company Notice is to be sent to the Holders (or such shorter period as agreed by the Paying Agent) the Paying Agent shall give such notice in the Company's name and at the Company's expense; *provided*, *however*, that, in all cases, the text of such Fundamental Change Company Notice shall be prepared by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding the foregoing, no Notes may be repurchased by the Company on any date at the option of the Holders in connection with a Fundamental Change if the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to such date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase Price with respect to such Notes). The Paying Agent will promptly return to the respective Holders thereof any Physical Notes held by it during the acceleration of the Notes (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase Price with respect to such Notes), or any instructions for book-entry transfer of the Notes in compliance with the Applicable Procedures shall be deemed to have been cancelled, and, upon such return or cancellation, as the case may be, the Fundamental Change Repurchase Notice with respect thereto shall be deemed to have been withdrawn.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notwithstanding anything to the contrary in this Indenture, the Company shall not be required to repurchase, or to make an offer to repurchase, the Notes upon a Fundamental Change if a third party makes such an offer in the same manner, at the same time and otherwise in compliance with the requirements for an offer made by the Company as set forth in this Article 15, and such third party purchases all Notes properly surrendered and not validly withdrawn under its offer in the same manner, at the same time and otherwise in compliance with the requirements for an offer made by the Company as set forth in this Article 15.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) For purposes of this Article 15, the Paying Agent may be any agent, depositary, tender agent, paying agent or other agent (including the Trustee) appointed by the Company to accomplish the purposes set forth herein.

Section 15.03. *Withdrawal of Fundamental Change Repurchase Notice.* A Fundamental Change Repurchase Notice may be withdrawn (in whole or in part) by means of a written notice of withdrawal received by the Paying Agent at the office of the Paying Agent in accordance with this Section 15.03 at any time prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date, specifying:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the principal amount of the Notes with respect to which such notice of withdrawal is being submitted, which must be in minimum denominations of $1,000 or an integral multiple thereof,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if Physical Notes have been issued, the certificate number of the Note in respect of which such notice of withdrawal is being submitted, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the principal amount, if any, of such Note that remains subject to the original Fundamental Change Repurchase Notice, which portion must be in principal amounts of $1,000 or an integral multiple of $1,000;

*provided*, *however*, that if the Notes are Global Notes, the notice must comply with Applicable Procedures of the Depositary.

Section 15.04. *Deposit of Fundamental Change Repurchase Price.* The Company will deposit with the Paying Agent, or if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in Section 4.04 on or prior to 11:00 a.m., New York City time (or such later time to which the Trustee may agree), on the Fundamental Change Repurchase Date (subject to extension in order to allow the Company to comply with applicable law) an amount of money sufficient to repurchase all of the Notes to be repurchased at the appropriate Fundamental Change Repurchase Price. Subject to receipt of funds and/or Notes by the Paying Agent, payment for Notes surrendered for repurchase (and not withdrawn prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date) will be made on the later of (i) the Fundamental Change Repurchase Date *(provided* the Holder has satisfied the conditions in Section 15.02) and (ii) the time of book-entry transfer or the delivery of such Note to the Paying Agent by the Holder thereof in the manner required by Section 15.02 by mailing checks for the amount payable to the Holders of such Notes entitled thereto as they shall appear in the Note Register; *provided*, *however*, that payments to the Depositary shall be made by wire transfer of immediately available funds to the account of the Depositary or its nominee. The Paying Agent shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the Fundamental Change Repurchase Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If by 11:00 a.m. New York City time (or such later time to which the Trustee may agree), on the Fundamental Change Repurchase Date, the Paying Agent holds money sufficient to make payment on all the Notes or portions thereof that are to be repurchased on such Fundamental Change Repurchase Date, or, if extended in order to allow the Company to comply with applicable law, such later date, then, with respect to the Notes that have been properly surrendered for repurchase and have not been validly withdrawn, such Notes will cease to be outstanding, interest will cease to accrue on such Notes on the Fundamental Change Repurchase Date or, if extended in order to allow the Company to comply with applicable law, such later date (whether or not book-entry transfer of the Notes has been made or the Notes have been delivered to the Paying Agent) and all other rights of the Holders of such Notes with respect to the Notes will terminate on the Fundamental Change Repurchase Date or, if extended in order to allow the Company to comply with applicable law, such later date (other than (x) the right to receive the Fundamental Change Repurchase Price and (y) if the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the related Interest Payment Date, the right of the Holder of record on such Regular Record Date to receive the full amount of accrued and unpaid interest to, but excluding, such Interest Payment Date).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon surrender of a Physical Note that is to be repurchased in part pursuant to Section 15.02, the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Note in an authorized denomination equal in principal amount to the unrepurchased portion of the Note surrendered.

Section 15.05. *Covenant to Comply with Applicable Laws Upon Repurchase of Notes.* In connection with any repurchase offer, the Company will, if required:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) comply with the tender offer rules under the Exchange Act that may then be applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) file a Schedule TO or any other required schedule under the Exchange Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) otherwise comply in all material respects with all federal and state securities laws in connection with any offer by the Company to repurchase the Notes;

in each case, so as to permit the rights and obligations under this Article 15 to be exercised in the time and in the manner specified in this Article 15 subject to postponement in order to allow the Company to comply with applicable law. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Indenture relating to the Company's obligations to purchase the Notes upon a Fundamental Change, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under such provisions of this Indenture by virtue of such conflict.

ARTICLE 16<br> REDEMPTION

Section 16.01. *Melinta Acquisition Redemption*. If, on the Melinta Acquisition Termination Date, the Melinta Acquisition has not been consummated for any reason, the Company may redeem, at its option, for cash all, but not part, of the Notes on the Melinta Acquisition Redemption Date (the "**Melinta Acquisition Redemption**"), by providing a Redemption Notice for such Melinta Acquisition Redemption (and the Company will publicly announce such Melinta Acquisition Redemption) on the Melinta Acquisition Termination Date in accordance with Section 16.03, at a Redemption Price (the "**Melinta Acquisition Redemption Price**) equal to the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 102% of the principal amount of such Notes, plus accrued and unpaid interest, if any, to, but excluding, the Melinta Acquisition Redemption Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the sum of (i) 100% of the principal amount of such Notes, plus accrued and unpaid interest, if any, to, but excluding, the Melinta Acquisition Redemption Date plus (ii) 70% of the difference, if positive, between the Melinta Acquisition Redemption Conversion Value and the Initial Conversion Value.

Simultaneously with providing such Redemption Notice, the Company shall publicly disclose the information, through a press release, or through such other public medium as the Company may use at that time.

The Redemption Date in respect of the Melinta Acquisition Redemption shall be the date that is five Trading Days following the Redemption Notice Date in respect of such Melinta Acquisition Redemption.

Section 16.02. *Optional Redemption.* No sinking fund is provided for the Notes. The Notes shall not be redeemable by the Company prior to August 4, 2028, except pursuant to the terms of Section 16.01. On or after August 4, 2028 and prior to the 26<sup>th</sup> Scheduled Trading Day immediately preceding the Maturity Date, the Company may redeem, at its option, (an "**Optional Redemption**") for cash all or any portion of the Notes (subject to the Partial Redemption Limitation in Section 16.03(d)), at the Redemption Price, if (i) the Last Reported Sale Price of the Common Stock has been at least 130% of the Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during any 30 consecutive Trading Day period (including the last Trading Day of such period) ending on, and including, the Trading Day immediately preceding the applicable Redemption Notice Date and (ii) the Notes are Freely Tradable as of the applicable Redemption Notice Date.

Section 16.03. *Notice of Optional Redemption; Selection of Notes*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In case the Company exercises its Melinta Acquisition Redemption right to redeem all, or Optional Redemption right to redeem all or, as the case may be, any part of the Notes (subject to the Partial Redemption Limitation) pursuant to Section 16.01 or Section 16.02, respectively, it shall fix a date for redemption (each, a "**Redemption Date**") and it or, at its written request together with the Redemption Notice to be given, an Officer's Certificate and an Opinion of Counsel received by the Trustee not less than five Scheduled Trading Days prior to the Redemption Notice Date (or such shorter period of time as may be acceptable to the Trustee), or by 10:00 a.m. on the Redemption Notice Date in the case of a Melinta Acquisition Redemption, the Trustee, in the name of and at the expense of the Company, shall deliver or cause to be delivered a notice of such redemption (a "**Redemption Notice**") not less than 45 nor more than 60 Scheduled Trading Days prior to the Redemption Date in the case of an Optional Redemption, and not less than five Scheduled Trading Days prior to the Melinta Acquisition Redemption Date in the case of an Melinta Acquisition Redemption, to each Holder of Notes so to be redeemed as a whole or in part; provided, however, that, if the Company shall give such notice, it shall also give written notice of the Redemption Date to the Trustee, the Conversion Agent (if other than the Trustee) and the Paying Agent (if other than the Trustee). The Redemption Date must be a Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Redemption Notice, if delivered in the manner herein provided, shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, failure to give such Redemption Notice or any defect in the Redemption Notice to the Holder of any Note designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Redemption Notice shall specify:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Redemption Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Redemption Price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) that on the Redemption Date, the Redemption Price will become due and payable upon each Note to be redeemed, and that interest thereon, if any, shall cease to accrue on and after the Redemption Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the place or places where such Notes are to be surrendered for payment of the Redemption Price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) that in connection with an Optional Redemption, Holders may surrender their Notes for conversion at any time prior to the close of business on the second Scheduled Trading Day immediately preceding the Redemption Date (unless the Company fails to pay the Redemption Price, in which case a Holder of Notes subject to such Optional Redemption may convert such Notes until the close of business on the Scheduled Trading Day immediately preceding the date on which the Redemption Price has been paid or duly provided for);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) that in connection with a Melinta Acquisition Redemption, Holders are not permitted to convert their Notes unless the Redemption Price is not paid to Holders on the Melinta Acquisition Redemption Date, in which case Holders may convert all or any portion of their Notes until the date on which the Redemption Price has been paid or duly provided for);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the procedures a converting Holder must follow to convert its Notes and the Settlement Method and Specified Dollar Amount, if applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the Conversion Rate and, if applicable in the case of an Optional Redemption, the number of Additional Shares added to the Conversion Rate in accordance with Section 14.03;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) the CUSIP, ISIN or other similar numbers, if any, assigned to such Notes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) in case any Note is to be redeemed in part only, the portion of the principal amount thereof to be redeemed and on and after the Redemption Date, upon surrender of such Note, a new Note in principal amount equal to the unredeemed portion thereof shall be issued, which principal amount must be $1,000 or a multiple thereof.

A Redemption Notice shall be irrevocable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If the Company elects in an Optional Redemption to redeem fewer than all of the outstanding Notes, at least $75,000,000 million aggregate principal amount of Notes must be outstanding and not subject to redemption as of the relevant Redemption Notice Date (such requirement, the "**Partial Redemption Limitation**"). If fewer than all of the outstanding Notes are to be redeemed, the Notes to be redeemed will be selected according to the Applicable Procedures, in the case of Notes represented by a Global Note, or, in the case of Notes represented by Physical Notes, on a pro rata or by lot basis or by another method consistent with the Trustee's customary procedures. In the event of any redemption in part, the Company shall not be required to register the transfer of or exchange any Note so selected for redemption, in whole or in part, except the unredeemed portion of any such Note being redeemed in part. If any Note selected for partial redemption is submitted for conversion in part after such selection, the portion of the Note submitted for conversion shall be deemed (so far as may be possible) to be from the portion selected for redemption, subject to the Applicable Procedures.

Section 16.04. *Payment of Notes Called for Redemption.* (a) If any Redemption Notice has been given in respect of the Notes in accordance with Section 16.03, the Notes shall become due and payable on the Redemption Date at the place or places stated in the Redemption Notice and at the applicable Redemption Price. On presentation and surrender of the Notes at the place or places stated in the Redemption Notice, the Notes shall be paid and redeemed by the Company at the applicable Redemption Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Prior to 11:00 a.m. New York City time on the Redemption Date (or such later time to which the Trustee may agree), the Company shall deposit with the Paying Agent or, if the Company or a Subsidiary of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 7.05 an amount of cash (in immediately available funds if deposited on the Redemption Date), sufficient to pay the Redemption Price of all of the Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes to be redeemed shall be made on the Redemption Date for such Notes. The Paying Agent shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the Redemption Price.

Section 16.05. *Restrictions on Redemption.* The Company may not redeem any Notes on any date if the principal amount of the Notes has been accelerated in accordance with the terms of this Indenture, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Notes).

ARTICLE 17<br> MISCELLANEOUS PROVISIONS

Section 17.01. *Provisions Binding on Company's Successors.* All the covenants, stipulations, promises and agreements of the Company contained in this Indenture shall bind its successors and assigns whether so expressed or not.

Section 17.02. *Official Acts by Successor Corporation.* Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or Officer of the Company shall and may be done and performed with like force and effect by the like board, committee or officer of any corporation or other entity that shall at the time be the lawful sole successor of the Company.

Section 17.03. *Addresses for Notices, Etc.* Any notice or demand that by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders on the Company shall be deemed to have been sufficiently given or made, for all purposes if given or served by being deposited postage prepaid by registered or certified mail in a post office letter box addressed (until another address is delivered by the Company to the Trustee) to U.S. Bank Trust Company, National Association, 60 Livingston Ave., Saint Paul, MN 55107, Attention: Brandon Bonfig (CorMedix Administrator). Any notice, direction, request or demand hereunder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or served by overnight delivery with a reputable national overnight delivery service, being deposited postage prepaid by registered or certified mail in a post office letter box addressed to the Corporate Trust Office or sent electronically in PDF format, whether sent by mail or electronically, upon actual receipt by the Trustee.

The Trustee, by notice to the Company, may designate additional or different addresses for subsequent notices or communications.

Any notice or communication delivered or to be delivered to a Holder of Physical Notes shall be mailed to it by first class mail, postage prepaid, at its address as it appears on the Note Register and shall be sufficiently given to it if so mailed within the time prescribed. Any notice or communication delivered or to be delivered to a Holder of Global Notes shall be delivered in accordance with the Applicable Procedures of the Depositary and shall be sufficiently given to it if so delivered within the time prescribed; *provided* that notice to the Trustee and the Conversion Agent shall be deemed given upon actual receipt by the Trustee or the Conversion Agent, as applicable. Notwithstanding any other provision of this Indenture or any Note, where this Indenture or any Note provides for notice of any event to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary (or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance with the Depositary's applicable procedures.

Failure to mail or deliver a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is mailed or delivered, as the case may be, in the manner provided above, it is duly given, whether or not the addressee receives it.

In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice to Holders by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

In the event that any notice or other communication delivered by the Company or the Trustee to a Holder contains any material non-public information in respect of the Company or its securities, the Company shall, no later than one Scheduled Trading Day thereafter, delivery of such notice or communication, publicly disclose such material non-public information. The Trustee shall have no duty to monitor nor be deemed to have any knowledge as to what information is or is not material non-public information in respect of the Company or its securities.

Section 17.04. *Governing Law; Jurisdiction.* THIS INDENTURE AND EACH NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE AND EACH NOTE, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS THEREOF).

The Company irrevocably consents and agrees, for the benefit of the Holders from time to time of the Notes and the Trustee, that any legal action, suit or proceeding against it with respect to obligations, liabilities or any other matter arising out of or in connection with this Indenture or the Notes may be brought in the courts of the State of New York or the courts of the United States located in the Borough of Manhattan, New York City, New York and, until amounts due and to become due in respect of the Notes have been paid, hereby irrevocably consents and submits to the non-exclusive jurisdiction of each such court *in personam*, generally and unconditionally with respect to any action, suit or proceeding for itself in respect of its properties, assets and revenues.

The Company irrevocably and unconditionally waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of venue of any of the aforesaid actions, suits or proceedings arising out of or in connection with this Indenture brought in the courts of the State of New York or the courts of the United States located in the Borough of Manhattan, New York City, New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum.

Section 17.05. *Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee.* Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officer's Certificate and an Opinion of Counsel, in form reasonably satisfactory to the Trustee, stating that in the judgment of the applicable signor, all conditions precedent including any covenants, compliance with such which constitutes a condition precedent to such action have been complied with.

Each Officer's Certificate and Opinion of Counsel provided for, by or on behalf of the Company in this Indenture and delivered to the Trustee with respect to compliance with this Indenture (other than the Officer's Certificates provided for in Section 4.08) shall include a statement that the person signing such certificate is familiar with the requested action and this Indenture; a brief statement as to the nature and scope of the examination or investigation upon which the statement contained in such certificate is based; a statement that, in the judgment of such person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed judgment as to whether or not such action is permitted by this Indenture; and a statement as to whether or not, in the judgment of such person, such action is permitted by this Indenture and that all conditions precedent to such action have been complied with.

Section 17.06. *Legal Holidays.* In any case where any Interest Payment Date, any Redemption Date, any Fundamental Change Repurchase Date, or the Maturity Date is not a Business Day, then any action to be taken on such date need not be taken on such date, but may be taken on the next succeeding Business Day with the same force and effect as if taken on such date, and no interest shall accrue in respect of the delay. For purposes of the foregoing sentence, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be deemed not to be a Business Day.

Section 17.07. *No Security Interest Created.* Nothing in this Indenture or in the Notes, expressed or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction.

Section 17.08. *Benefits of Indenture.* Nothing in this Indenture or in the Notes, expressed or implied, shall give to any Person, other than the Holders, the parties hereto, any Paying Agent, any Conversion Agent, any Bid Solicitation Agent, any Custodian, any authenticating agent, any Note Registrar and their successors hereunder, any benefit or any legal or equitable right, remedy or claim under this Indenture.

Section 17.09. *Table of Contents, Headings, Etc.* The table of contents and the titles and headings of the articles and sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

Section 17.10. *Authenticating Agent.* The Trustee may appoint an authenticating agent that shall be authorized to act on its behalf and subject to its direction in the authentication and delivery of Notes in connection with the original issuance thereof and transfers and exchanges of Notes hereunder, including under Section 2.04, Section 2.05, Section 2.06, Section 2.07, Section 10.04 and Section 15.04 as fully to all intents and purposes as though the authenticating agent had been expressly authorized by this Indenture and those Sections to authenticate and deliver Notes. For all purposes of this Indenture, the authentication and delivery of Notes by the authenticating agent shall be deemed to be authentication and delivery of such Notes "by the Trustee" and a certificate of authentication executed on behalf of the Trustee by an authenticating agent shall be deemed to satisfy any requirement hereunder or in the Notes for the Trustee's certificate of authentication. Such authenticating agent shall at all times be a Person eligible to serve as trustee hereunder pursuant to Section 7.08.

Any corporation or other entity into which any authenticating agent may be merged or converted or with which it may be consolidated, or any corporation or other entity resulting from any merger, consolidation or conversion to which any authenticating agent shall be a party, or any corporation or other entity succeeding to all or substantially all of the corporate trust business of any authenticating agent, shall be the successor of the authenticating agent hereunder, if such successor corporation or other entity is otherwise eligible under this Section 17.10, without the execution or filing of any paper or any further act on the part of the parties hereto or the authenticating agent or such successor corporation or other entity.

Any authenticating agent may at any time resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time any authenticating agent shall cease to be eligible under this Section, the Trustee may appoint a successor authenticating agent (which may be the Trustee), shall give written notice of such appointment to the Company and shall deliver notice of such appointment to all Holders.

The Company agrees to pay to the authenticating agent from time to time reasonable compensation for its services although the Company may terminate the authenticating agent, if it determines such agent's fees to be unreasonable.

The provisions of Section 7.02, Section 7.03, Section 7.04, Section 8.03 and this Section 17.10 shall be applicable to any authenticating agent.

If an authenticating agent is appointed pursuant to this Section 17.10, the Notes may have endorsed thereon, in addition to the Trustee's certificate of authentication, an alternative certificate of authentication in the following form:

_________________________ ,

as Authenticating Agent, certifies that this is one of the Notes described<br> in the within-named Indenture.

By:   <br> Authorized Signatory

Section 17.11. *Execution in Counterparts.* This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Indenture and of signature pages by electronic or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes.

Section 17.12. *Severability.* In the event any provision of this Indenture or in the Notes shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired.

Section 17.13. *Waiver of Jury Trial.* EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

Section 17.14. *Force Majeure.* In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation,, any act or provision of any present or future law or regulation or governmental authority, strikes, work stoppages, labor disputes, disease, epidemic or pandemic, quarantine, national emergency, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; malware or ransomware, communication systems failure or unavailability of the Federal Reserve Bank wire or telex system or other wire or other funds transfer systems, or unavailability of any securities clearing system it being understood that the Trustee shall use reasonable efforts that are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

Section 17.15. *Calculations.* The Company shall be responsible for making all calculations called for under the Notes. These calculations include, but are not limited to, determinations of the Redemption Price, Stock Price, Trading Price of the Notes (for purposes of determining whether the Notes are convertible as described herein), the Last Reported Sale Prices of the Common Stock, the Trading Price, the Daily VWAPs, the Daily Conversion Values, the Exchange Cap (subject to the provisions of 14.02(l)), the Daily Settlement Amounts, accrued interest payable on the Notes, the Redemption Price, any Additional Interest payable on the Notes, and the Conversion Rate of the Notes, including adjustments to the Conversion Price and the Conversion Rate. The Company shall make all these calculations in good faith and, absent manifest error, the Company's calculations shall be final and binding on Holders of Notes. The Company shall provide a schedule of its calculations to each of the Trustee, the Paying Agent (if other than the Trustee)and the Conversion Agent, and each of the Trustee, the Paying Agent (if other than the Trustee) and Conversion Agent is entitled to rely conclusively upon the accuracy of the Company's calculations without independent verification. The Company will forward the Company's calculations to any Holder of Notes upon the written request of that Holder at the sole cost and expense of the Company. Neither the Trustee, Paying Agent, nor the Conversion Agent shall have any responsibility or liability with respect to performing calculations under the Notes or for verifying the Company's calculations.

In no event shall the Trustee or Conversion Agent be responsible for making any calculations under this Indenture or for determining amounts to be paid or for monitoring any stock price. For the avoidance of doubt, the Trustee and the Conversion Agent shall rely conclusively on the calculations and information provided to them by the Company as to Daily VWAP, Trading Price, Daily Conversion Value, Daily Settlement Amount and Last Reported Sale Price. Nor shall the Trustee or the Conversion Agent be charged with knowledge of or have any duties to monitor any Beneficial Ownership Limitations, Measurement Period or Observation Period or determine whether the Notes are convertible or to notify the Company, the Holders or DTC if the Notes have become convertible or whether any adjustments to the Conversion Rate are required.

Section 17.16. *USA PATRIOT Act.* The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may reasonably request in order for the Trustee to satisfy the requirements of the USA PATRIOT Act.

Section 17.17. *Tax Withholding.* The Company or the Trustee, as the case may be, shall be entitled to make a deduction or withholding from any payment which it makes under this Indenture for or on account of any present or future taxes, duties or charges if and to the extent so required by any applicable law and any current or future regulations or agreements thereunder or official interpretations thereof or any law implementing an intergovernmental approach thereto or by virtue of the relevant Holder failing to satisfy any certification or other requirements in respect of the Notes, in which event the Company or the Trustee, as the case may be, shall make such payment after such withholding or deduction has been made and shall account to the relevant authorities for the amount so withheld or deducted and shall have no obligation to gross up any payment hereunder or pay any additional amount as a result of such withholding tax. In order to assist the Trustee with its compliance with Applicable Laws, the Company agrees to provide the Trustee, upon request, information regarding the transaction which the Company has in its possession to allow the Trustee to determine whether it has tax related obligations under Applicable Law.

Section 17.18. *Electronic Communications.* The Trustee shall have the right to accept and act upon instructions, including funds transfer instructions ("Instructions") given pursuant to this Indenture and delivered using Electronic Means (as hereinafter defined); provided, however, that the Company shall provide to the Trustee an incumbency certificate listing officers with the authority to provide such Instructions ("Authorized Officers") and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a person is to be added or deleted from the listing. If the Company elects to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the Trustee's understanding of such Instructions shall be deemed controlling. The Company understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have been sent by an Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized Officer. The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that the Company and all Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Company. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee's reliance upon and compliance with such Instructions notwithstanding such directions conflict or are inconsistent with a subsequent written instruction. The Company agrees: (i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties; (ii) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more secure methods of transmitting Instructions than the method(s) selected by the Company; (iii) that the security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the security procedures.

Section 17.19. *FATCA.* In order to comply with Applicable Laws, the Company agrees (i) to provide to the Trustee upon request information the Company has in its reasonable possession about the applicable parties and/or transactions (including any modification to the terms of such transactions) so the Trustee can determine whether it has tax related obligations under Applicable Law, and (ii) that the Trustee shall be entitled to make any withholding or deduction from payments under this Indenture to the extent necessary to comply with Applicable Law. The terms of this section shall survive the termination of this Indenture.

*[Remainder of page intentionally left blank}*

IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of the date first written above.

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| | |
|:---|:---|
| CORMEDIX INC. | CORMEDIX INC. |
| By: |  |
|  | Name: |
|  | Title: |
| U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee | U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee |
| By: |  |
|  | Name: |
|  | Title: |

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[*Signature Page to Indenture*]

**EXHIBIT A**

[FORM OF FACE OF NOTE]

[INCLUDE FOLLOWING LEGEND IF A GLOBAL NOTE]

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREUNDER IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

[INCLUDE FOLLOWING LEGEND IF A RESTRICTED SECURITY]

[THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A "QUALIFIED INSTITUTIONAL BUYER" (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) AGREES FOR THE BENEFIT OF CORMEDIX INC. (THE "COMPANY") THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY, IF ANY OR ANY BENEFICIAL INTEREST HEREIN OR THEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, OR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) TO A PERSON REASONABLY BELIEVED TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER FOR THE COMPANY TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY DURING THE THREE IMMEDIATELY PRECEDING MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR OWN THIS SECURITY OR A BENEFICIAL INTEREST HEREIN.]<sup>3</sup>

<sup>3</sup> The Restrictive Legend shall be deemed removed from the face of this Note without further action by the Company, Trustee or the Holders of this Note at such time and in the manner provided under Section 2.05 of the Indenture.

4.00% Convertible Senior Note due 2030

---

| | |
|:---|:---|
| No.[_________] | [Initially]<sup>4</sup> $[ ___________] |

---

CUSIP No. [_________]<sup>5</sup>

CorMedix Inc., a corporation duly organized and validly existing under the laws of the State of Delaware (the "Company," which term includes any successor corporation or other entity under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to [CEDE & CO.]<sup>6</sup> [ ]<sup>7</sup>, or registered assigns, the principal sum [as set forth in the "Schedule of Exchanges of Notes" attached hereto]<sup>8</sup> [of $[____]]<sup>9</sup>, which amount, taken together with the principal amounts of all other outstanding Notes, shall not, unless permitted by the Indenture, exceed $150,000,000 in aggregate at any time, in accordance with the rules and the Applicable Procedures, on [____], and interest thereon as set forth below. Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month.

This Note shall bear interest at the rate of 4.00% per year from August [12], 2025, or from the most recent date to which interest has been paid or provided for to, but excluding, the next scheduled Interest Payment Date until August 1, 2030. Interest is payable semi-annually in arrears on each February 1 and August 1, commencing on February 1, 2026 to Holders of record at the close of business on the preceding January 15 and July 15 (whether or not such day is a Business Day), respectively. Additional Interest will be payable as set forth in Section 4.06(d), Section 4.06(e) and Section 6.03 of the within-mentioned Indenture, and any reference to interest on, or in respect of, any Note therein shall be deemed to include Additional Interest, if, in such context, Additional Interest is, was or would be payable pursuant to any of such Section 4.06(d), Section 4.06(e) or Section 6.03. Any express mention of the payment of Additional Interest in any provision therein shall not be construed as excluding Additional Interest in those provisions thereof where such express mention is not made.

Any Defaulted Amounts shall accrue interest per annum at the rate borne by the Notes, subject to the enforceability thereof under applicable law, from, and including, the relevant payment date to, but excluding, the date on which such Defaulted Amounts shall have been paid by the Company, at its election, in accordance with Section 2.03(c) of the Indenture.

The Company shall pay or cause the Paying Agent to pay the principal of and interest, if any, on this Note, if and so long as such Note is a Global Note, by wire transfer in immediately available funds to the Depositary or its nominee, as the case may be, as the registered Holder of such Note. As provided in and subject to the provisions of the Indenture, the Company shall pay the principal of any Notes (other than Notes that are Global Notes) at the office or agency designated by the Company for that purpose. The Company has initially designated the Trustee as its Paying Agent and Note Registrar in respect of the Notes and its Corporate Trust Office located in the United States of America as a place where Notes may be presented for payment or for registration of transfer and exchange.

Reference is made to the further provisions of this Note set forth on the reverse hereof, including, without limitation, provisions giving the Holder of this Note the right to convert this Note into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, on the terms and subject to the limitations set forth in the Indenture. Such further provisions shall for all purposes have the same effect as though fully set forth at this place.

**This Note, and any claim, controversy or dispute arising under or related to this Note, shall be construed in accordance with and governed by the laws of the State of New York (without regard to the conflicts of laws provisions thereof).**

In the case of any conflict between this Note and the Indenture, the provisions of the Indenture shall control and govern.

This Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed manually by the Trustee or a duly authorized authenticating agent under the Indenture.

*[Remainder of page intentionally left blank]*

<sup>4</sup> Include if a global note.

<sup>5</sup> At such time as the Company notifies the Trustee that the Restrictive Legend is to be removed in accordance with the Indenture, the CUSIP number for this Note shall be deemed to be [_______] in accordance with Applicable Procedures.

<sup>6</sup> Include if a global note.

<sup>7</sup> Include if a physical note.

<sup>8</sup> Include if a global note.

<sup>9</sup> Include if a physical note.

IN WITNESS WHEREOF, the Company has caused this Note to be duly executed.

---

| | | |
|:---|:---|:---|
|  | CORMEDIX INC. | CORMEDIX INC. |
|  | By: | |
|  |  | Name: |
|  |  | Title: |
| Dated: |  |  |

---

TRUSTEE'S CERTIFICATE OF AUTHENTICATION

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION

as Trustee, certifies that this is one of the Notes described<br> in the within-named Indenture.

By:   <br> Authorized Signatory

[FORM OF REVERSE OF NOTE]

4.00% Convertible Senior Note due 2030

This Note is one of a duly authorized issue of Notes of the Company, designated as its 4.00% Convertible Senior Notes due 2030 (the "**Notes**"), limited to the aggregate principal amount of $150,000,000, all issued or to be issued under and pursuant to an Indenture dated as of August [12], 2025 (the "**Indenture**"), between the Company and U.S. Bank Trust Company, National Association (the "**Trustee**"), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes. Capitalized terms used in this Note and not defined in this Note shall have the respective meanings set forth in the Indenture.

In case certain Events of Default shall have occurred and be continuing, the principal of, and interest on, all Notes may be declared, by either the Trustee or Holders of at least 25% in aggregate principal amount of Notes then outstanding, and upon said declaration shall become, due and payable, in the manner, with the effect and subject to the conditions and certain exceptions set forth in the Indenture.

Subject to the terms and conditions of the Indenture, the Company will make all payments and deliveries in respect of the Fundamental Change Repurchase Price on the Fundamental Change Repurchase Date, the Redemption Price on the Redemption Date and the principal amount on the Maturity Date, as the case may be, to the Holder who surrenders a Note to a Paying Agent to collect such payments in respect of the Note. The Company will pay cash amounts in money of the United States that at the time of payment is legal tender for payment of public and private debts.

The Indenture contains provisions permitting the Company and the Trustee in certain circumstances, without the consent of the Holders of the Notes, and in certain other circumstances, with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding, evidenced as in the Indenture provided, to execute supplemental indentures modifying the terms of the Indenture and the Notes as described therein. It is also provided in the Indenture that, subject to certain exceptions, the Holders of a majority in aggregate principal amount of the Notes at the time outstanding may on behalf of the Holders of all of the Notes waive any past Default or Event of Default under the Indenture and its consequences.

Notwithstanding any other provision of the Indenture or any provision of this Note, each Holder shall have the contractual right to receive payment or delivery, as the case may be, of (x) the principal (including the Fundamental Change Repurchase Price and the Redemption Price, if applicable) of, (y) accrued and unpaid interest, if any, on, and (z) the consideration due upon conversion of, this Note, on or after the respective due dates expressed or provided for in this Note or in the Indenture, and the contractual right to institute suit for the enforcement of any such payment or delivery, as the case may be, on or after such respective dates, shall not be amended without the consent of each Holder.

The Notes are issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. At the office or agency of the Company referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations, without payment of any service charge but, if required by the Company or Trustee, with payment of a sum sufficient to cover any transfer or similar tax that may be imposed in connection therewith as a result of the name of the Holder of the new Notes issued upon such exchange of Notes being different from the name of the Holder of the old Notes surrendered for such exchange.

The Notes are not subject to redemption prior to August 4, 2028, except pursuant to a Melinta Acquisition Redemption. The Notes shall be redeemable at the Company's option in connection with a Melinta Acquisition Redemption or on or after August 4, 2028 in accordance with the terms and subject to the conditions specified in the Indenture. No sinking fund is provided for the Notes.

Upon the occurrence of a Fundamental Change, the Holder has the right, at such Holder's option, to require the Company to repurchase for cash all of such Holder's Notes or any portion thereof (in principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change Repurchase Date at a price equal to the Fundamental Change Repurchase Price.

Subject to the provisions of the Indenture, the Holder hereof has the right, at its option, during certain periods and upon the occurrence of certain conditions specified in the Indenture, prior to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, to convert any Notes or portion thereof that is $1,000 or an integral multiple thereof, into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, at the Conversion Rate specified in the Indenture, as adjusted from time to time as provided in the Indenture.

ABBREVIATIONS

The following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were written out in full according to applicable laws or regulations:

TEN COM = as tenants in common

UNIF GIFT MIN ACT = Uniform Gifts to Minors Act

CUST = Custodian

TEN ENT = as tenants by the entireties

JT TEN = joint tenants with right of survivorship and not as tenants in common

Additional abbreviations may also be used though not in the above list.

**SCHEDULE A<sup>10</sup>**

SCHEDULE OF EXCHANGES OF NOTES

CorMedix Inc.<br> 4.00% Convertible Senior Notes due 2030

The initial principal amount of this Global Note is ______ DOLLARS ($[______]). The following increases or decreases in this Global Note have been made:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date of <br> exchange** | **Amount of<br> decrease in<br> principal<br> amount of this<br> Global Note** | **Amount of<br> increase in<br> principal<br> amount of this<br> Global Note** | **Principal amount<br> of this Global Note<br> following such<br> decrease or<br> increase** | **Signature of<br> authorized<br> signatory of<br> Trustee or<br> Custodian** |

---

<sup>10</sup> Include if a global note.

**ATTACHMENT 1**

[FORM OF NOTICE OF CONVERSION]

To: U.S. Bank Trust Company, National Association

60 Livingston Ave.

Saint Paul, MN 55107

Attention: Brandon Bonfig (CorMedix Administrator)

---

| | |
|:---|:---|
| RE: | CorMedix Inc. 4.00% Convertible Notes due 2030 – Notice of Conversion |

---

The undersigned registered owner of this Note hereby exercises the option to convert this Note, or the portion hereof (that is $1,000 principal amount or an integral multiple thereof) below designated, into cash, shares of Common Stock or a combination of cash and shares of Common Stock, at the Company's election, in accordance with the terms of the Indenture referred to in this Note, and directs that any cash payable and any shares of Common Stock issuable and deliverable upon such conversion, together with any cash for any fractional share, and any Notes representing any unconverted principal amount hereof, be issued and delivered to the registered Holder hereof unless a different name has been indicated below. If any shares of Common Stock or any portion of this Note not converted are to be issued in the name of a Person other than the undersigned, the undersigned will pay all documentary, stamp or similar issue or transfer taxes, if any in accordance with Section 14.02(d) and Section 14.02(e) of the Indenture. Any amount required to be paid to the undersigned on account of interest accompanies this Note. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture.

---

| | |
|:---|:---|
| Dated: | |
|  | Signature(s) |
| Signature Guarantee |  |

---

Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and credit unions) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15 if shares of Common Stock are to be issued, or Notes are to be delivered, other than to and in the name of the registered holder.

---

| | |
|:---|:---|
| Fill in for registration of shares if to be issued, and Notes if to be delivered, other than to and in the name of the registered holder: |  |
| (Name) |  |
| (Street Address) |  |
| (City, State and Zip Code) |  |
| Please print name and address |  |
|  | Principal amount to be converted (if less than all):$____,000 |
|  | NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever. |
|  | Social Security or Other Taxpayer<br> Identification Number |

---

**ATTACHMENT 2**

[FORM OF FUNDAMENTAL CHANGE REPURCHASE NOTICE]

To: U.S. Bank Trust Company, National Association<br> 60 Livingston Ave.<br> Saint Paul, MN 55107<br> Attention: Brandon Bonfig (CorMedix Administrator)

The undersigned registered owner of this Note hereby acknowledges receipt of a notice from CorMedix Inc. (the "**Company**") as to the occurrence of a Fundamental Change with respect to the Company and specifying the Fundamental Change Repurchase Date and requests and instructs the Company to pay to the registered holder hereof in accordance with Section 15.02 of the Indenture referred to in this Note (1) the entire principal amount of this Note, or the portion thereof (that is $1,000 principal amount or an integral multiple thereof) below designated, and (2) if such Fundamental Change Repurchase Date does not fall during the period after a Regular Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but excluding, such Fundamental Change Repurchase Date. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture.

In the case of Physical Notes, the certificate numbers of the Notes to be repurchased are as set forth below:

---

| | |
|:---|:---|
| Dated:___________________________ |  |
|  | ______________________________ |
|  | Signature(s) |
|  | _____________________________________ |
|  | Social Security or Other Taxpayer |
|  | Identification Number |
|  | Principal amount to be repaid (if less than all): |
|  | $___ ,000 |
|  | NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever |

---

**ATTACHMENT 3**

[FORM OF ASSIGNMENT AND TRANSFER]

For value received ____________________<u> </u> hereby sell(s), assign(s) and transfer(s) unto ________________<u> </u> (Please insert social security or Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably constitutes and appoints ___________________<u> </u> attorney to transfer the said Note on the books of the Company, with full power of substitution in the premises.

In connection with any transfer of the within Note occurring prior to the Resale Restriction Termination Date, as defined in the Indenture governing such Note, the undersigned confirms that such Note is being transferred:

☐ To CorMedix Inc. or a subsidiary thereof; or

☐ Pursuant to a registration statement that has become or been declared effective under the Securities Act of 1933, as amended; or

☐ Pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended; or

☐ Pursuant to and in compliance with Rule 144 under the Securities Act of 1933, as amended, or any other available exemption from the registration requirements of the Securities Act of 1933, as amended.

---

| |
|:---|
| Dated: _________________ |
| _______________________________ |
| Signature(s) |
| _______________________________ |
| Signature Guarantee |

---

Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and credit unions) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15 if Notes are to be delivered, other than to and in the name of the registered holder.

NOTICE: The signature on the assignment must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**CorMedix Inc. Reports second Quarter 2025 Financial Results and Provides Business Update**

*‒ Q2 2025 Net Revenue of $39.7mm; Net Income of $19.8mm; Adjusted EBITDA of $22.4mm ‒*

 

*‒ Company Announces Acquisition of Melinta Therapeutics ‒*

 

*‒ Conference Call Scheduled for Today at 8:30 a.m. Eastern Time ‒*

**Berkeley Heights, NJ – August 7, 2025** – CorMedix Inc. (Nasdaq: CRMD) today announced financial results for the second quarter and six months ended June 30, 2025 and provided an update on its business announcing the acquisition of Melinta Therapeutics LLC, with a target closing date as early as September 1, 2025.

**Second Quarter and Six Months 2025 Financial Highlights** 

For the second quarter of 2025, CorMedix recorded $39.7 million in net revenue from sales of DefenCath, compared to $0.8 million for the same period last year, and recorded net income of $19.8 million, or $0.29 per share, compared with a net loss of $14.2 million, or $0.25 per share, in the second quarter of 2024, driven primarily by net sales of DefenCath during the period.

Operating expenses in the second quarter of 2025 were $18.3 million, compared with $15.6 million in the second quarter of 2024, an increase of approximately 18%. The increase was driven primarily by an increase in G&A expense and R&D expense for the period. R&D expense in the second quarter of 2025 was $2.4 million, compared with $0.7 million for the same period in 2024, due to an increase in personnel and clinical trial services in support of the ongoing clinical programs. Selling and Marketing expense for the second quarter of 2025 amounted to $6.4 million, compared with $7.4 million in the second quarter of 2024, a decrease of 14% which was primarily due to increased marketing costs in the prior period related to the launch of DefenCath. General and administrative expense in the second quarter of 2025 amounted to $9.5 million, compared with $7.6 million in the second quarter of 2024, an increase of 25%. The increase was primarily driven by non-cash charges for stock-based compensation and costs related to business development.

For the six months ended June 30, 2025, the Company recorded $78.8 million in net revenue from the sales of DefenCath, compared to $0.8 million in net revenue for the same period last year, and recorded net income of $40.5 million, or $0.60 per share, during the first half of 2025, compared to a net loss of $28.6 million, or $0.50 per share, for the same period in 2024.

Operating expenses in the first half of 2025 were $35.7 million, compared to $31.5 million in the same period in 2024, an increase of approximately $4.2 million or 13%. This increase was primarily due to an increase in R&D expense and G&A expense, partially offset by a decrease in S&M expense related to the commercial launch activities of DefenCath.

The Company reported cash and short-term investments of $190.7 million as of June 30, 2025, excluding restricted cash. The Company believes that it has sufficient resources to fund operations for at least twelve months from the issuance of the Company's Quarterly Report on Form 10-Q.

**Conference Call Information**

The management team of CorMedix will host a conference call and webcast today, August 7, 2025, at 8:30AM Eastern Time, to discuss recent corporate developments and financial results. Call details and dial-in information are as follows:

***<u>Thursday, August 7th @ 8:30am ET</u>***

 ****

Domestic: 1-844-676-2922

International: 1-412-634-6840

Webcast: Webcast Link

**About CorMedix**

CorMedix Inc. is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of life-threatening conditions and diseases. The Company is focused on commercializing its lead product DefenCath<sup>®</sup> (taurolidine and heparin) which was approved by the FDA on November 15, 2023. CorMedix commercially launched DefenCath in inpatient settings in April 2024 and in outpatient settings in July 2024. CorMedix commenced clinical studies in adult Total Parenteral Nutrition (TPN) patients and pediatric hemodialysis (HD) patient populations in 2025 and also intends to develop DefenCath as a catheter lock solution for use in other therapeutic areas. For more information visit: www.cormedix.com.

**Forward-Looking Statements**

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange, as amended (the "Exchange Act"), that are subject to risks and uncertainties. Forward-looking statements are often identified by the use of words such as, but not limited to, "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "will," "plan," "project," "seek," "should," "target," "will," "would," and similar expressions or variations intended to identify forward-looking statements. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or CorMedix's prospects should be considered forward-looking statements. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, and readers are directed to the Risk Factors identified in CorMedix's filings with the SEC, including its most recent Annual Report on Form 10-K, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from CorMedix and in the Quarterly Report on Form 10-Q for the quarter ended, on June 30, 2025. CorMedix may not actually achieve the goals or plans described in its forward-looking statements, and such forward-looking statements speak only as of the date of this press release. Investors should not place undue reliance on these statements. CorMedix assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Actual outcomes or results may differ from anticipated results, sometimes materially. Factors that could cause actual results to differ include, but are not limited to: the ultimate outcome of the acquisition of Melinta; the satisfaction of the conditions to the closing of the proposed transaction in a timely manner; the ability of the combined company to achieve the identified synergies; the ability to integrate the Melinta business into CorMedix and realize the anticipated strategic benefits of the transaction within the expected time-frames or at all; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of Melinta; the expected benefits and success of Melinta's products and product candidates; potential litigation relating to the potential transaction that could be instituted against CorMedix or its directors; rating agency actions and CorMedix's ability to access short- and long-term debt markets on a timely and affordable basis; general economic conditions that are less favorable than expected; geopolitical developments and additional changes in international trade policies and relations, including tariffs; and the ability of our products and product candidates to compete effectively against current and future competitors.

**Non-GAAP Financial Measures**

This release includes certain non-GAAP financial measures, including EBITDA, adjusted EBITDA, which are intended as supplemental measures of the Company's performance that are not required by or presented in accordance with GAAP. Management uses these non-GAAP measures internally to evaluate and manage the Company's operations and to better understand its business because they facilitate a comparative assessment of the Company's operating performance relative to its performance based on results calculated under GAAP. These non-GAAP measures also isolate the effects of some items that vary from period to period without any correlation to core operating performance and eliminate certain charges that management believes do not reflect the Company's operations and underlying operational performance.

The Company believes that these non-GAAP measures also provide useful information to investors regarding certain financial and business trends relating to the Company's financial condition and operating results facilitates an evaluation of the financial performance of the Company and its operations on a consistent basis. Providing this information therefore allows investors to make independent assessments of the Company's financial performance, results of operations and trends while viewing the information through the eyes of management.

These non-GAAP measures are subject to limitations. The non-GAAP measures presented in this release may not be comparable to similarly titled measures used by other companies because other companies may not calculate one or more in the same manner. Additionally, the non-GAAP performance measures exclude significant expenses and income that are required by GAAP to be recorded in the Company's financial statements; do not reflect changes in, or cash requirements for, working capital needs. Further, our historical adjusted results are not intended to project our adjusted results of operations or financial position for any future period. To compensate for these limitations, management presents and considers these non-GAAP measures in conjunction with the Company's GAAP results; no non-GAAP measure should be considered in isolation from or as alternatives to any measure determined in accordance with GAAP. Readers should review the reconciliations included below, and should not rely on any single financial measure to evaluate the Company's business.

**Investor Contact:**

Dan Ferry<br> Managing Director<br> LifeSci Advisors

daniel@lifesciadvisors.com<br> (617) 430-7576

**CorMedix Inc. and SubsidiarIES**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS** 

**AND COMPREHENSIVE LOSS**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended<br> June 30,** | **For the Three Months Ended<br> June 30,** | **For the Six Months Ended<br> June 30,** | **For the Six Months Ended<br> June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Revenue** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Revenue, net | $39736790 | $806119 | $78818447 | $806119 |
| &nbsp;&nbsp;&nbsp;Cost of revenues | (1862448) | (509839) | (3459162) | (1328377) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit (loss) | 37874342 | 296280 | 75359285 | (522258) |
| **Operating Expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Research and development | (2442709) | (650988) | (5635149) | (1488432) |
| &nbsp;&nbsp;&nbsp;Selling and marketing | (6384072) | (7386841) | (10857913) | (13724061) |
| &nbsp;&nbsp;&nbsp;General and administrative | (9504056) | (7559277) | (19197437) | (16270310) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | (18330837) | (15597106) | (35690499) | (31482803) |
| **Income (Loss) from Operations** | 19543505 | (15300826) | 39668786 | (32005061) |
| **Other Income (Expense)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income | 805983 | 1149337 | 1324600 | 1992679 |
| **Net Income (Loss) Before Income Taxes** | 20349488 | (14151489) | 40993386 | (30012382) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax (expense) benefit | (521507) | - | (521507) | 1394770 |
| **Net Income (Loss)** | 19827981 | (14151489) | 40471879 | (28617612) |
| **Other Comprehensive Income (Loss)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other comprehensive (loss) income | (5121) | 2270 | (11211) | (8377) |
| **Other Comprehensive (Loss) Income** | $19822860 | $(14149219) | $40460668 | $(28625989) |
| **Net Income (Loss) Per Common Share – Basic** | $0.29 | $(0.25) | $0.60 | $(0.50) |
| **Net Income (Loss) Per Common Share – Diluted** | $0.28 | $(0.25) | $0.58 | $(0.50) |
| **Weighted Average Common Shares Outstanding – Basic** | 67927710 | 57620974 | 66593438 | 57562064 |
| **Weighted Average Common Shares Outstanding – Diluted** | 71918624 | 57620974 | 70354212 | 57562064 |

---

**CORMEDIX INC. AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED BALANCE SHEET DATA**

---

| | | |
|:---|:---|:---|
|  | **June 30,**<br>**2025**<br>**(Unaudited)** | **December 31,**<br>**2024**<br>**(Audited)** |
| **ASSETS** |  |  |
| Cash, cash equivalents and restricted cash | $159414050 | $40756138 |
| Short-term investments | $31402850 | $11036857 |
| Trade receivables, net | 42911634 | 51653583 |
| **Total Assets** | $252599103 | $118845673 |
| **Total Liabilities** | $31968916 | $34188723 |
| Accumulated deficit | $(299158154) | $(339630033) |
| **Total Stockholders' Equity** | $220630187 | $84656950 |

---

**CORMEDIX INC. AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **For the Six Months Ended** <br> **June 30,** | **For the Six Months Ended** <br> **June 30,** |
|  | **2025** | **2024** |
| **Cash Flows from Operating Activities:** |  |  |
| Net income (loss) | $40471879 | $(28617612) |
| Net cash provided by (used in) operating activities | 49728317 | (31350210) |
| **Cash Flows Used in Investing Activities:** |  |  |
| Net cash (used in) provided by investing activities | (20406596) | 15213503 |
| **Cash Flows from Financing Activities:** |  |  |
| Net cash provided by financing activities | 89335134 | 959467 |
| **Net Increase (Decrease) in Cash and Cash Equivalents** | 118657912 | (15178133) |
| **Cash and Cash Equivalents and Restricted Cash - Beginning of Period** | 40756138 | 43823192 |
| **Cash and Cash Equivalents and Restricted Cash - End of Period** | $159414050 | $28645059 |

---

**CORMEDIX INC. AND SUBSIDIARIES**

**Non-GAAP Reconciliations**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **For the Three Months Ended June 30,** | **For the Three Months Ended June 30,** |
|  | **2025** | **2024** |
| **Net income (loss)** | $19827981 | $(14151489) |
| &nbsp;&nbsp;&nbsp;Adjusted to add (deduct): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income, net | (822278) | (650810) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for (benefit from) income taxes | 521507 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 162941 | 76898 |
| **EBITDA (Non-GAAP)** | 19690151 | (14725401) |
| &nbsp;&nbsp;&nbsp;Adjusted to add (deduct): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 2677080 | 1263845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income | - | (500000) |
| **Adjusted EBITDA (Non-GAAP)** | 22367231 | (13961556) |

---

## Exhibit 99.2

**Exhibit 99.2**

![](ex99-2_001.jpg)

**CorMedix TO ACQUIRE MELINTA THERAPEUTICS, CREATING DIVERSIFIED<br> SPECIALTY COMPANY WITH STRONG PRESENCE IN ACUTE CARE SETTINGS**

- *Transformational deal for CorMedix that expands and diversifies company's commercial product portfolio, with seven innovative drug products and a pipeline expansion indication with near-term revenue growth potential*

*Transaction expected to be near-term accretive to EPS with double-digit accretion expected in 2026; annual run-rate synergies expected to be ~$35 to $45 million*

*Pro forma 2025 combined revenues estimated to be $305 to $335 million*

- *Advances CorMedix's strategy to build a formidable specialty pharmaceutical business through a combination of organic and inorganic growth*

- *Dynamic platform can be leveraged to support additional products and expand as the combined company enters its next phase*

- *CorMedix to host conference call and webcast today at 8:30 a.m. ET.*

**Berkeley Heights, NJ – August 7, 2025** – CorMedix Inc. ("CorMedix") (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions, and Melinta Therapeutics LLC ("Melinta"), a private commercial-stage company providing innovative therapies for acute and life-threatening illnesses, today announced a definitive agreement for CorMedix to acquire Melinta. The selling shareholders will receive $300 million in total consideration at closing, including $40 million of CorMedix equity, and will be eligible to receive a regulatory milestone of up to $25 million and royalties on net sales of MINOCIN® and REZZAYO™.

The proposed acquisition will expand CorMedix's team and commercial platform, and increase the commercial portfolio with six marketed, highly differentiated, hospital- and clinic-focused infectious disease products, including REZZAYO™ (rezafungin for injection), MINOCIN® (minocycline) for Injection, VABOMERE® (meropenem and vaborbactam), KIMYRSA® (oritavancin), ORBACTIV™ (oritavancin), BAXDELA® (delafloxacin), and an additional well-established cardiovascular product, TOPROL-XL® (metoprolol succinate). REZZAYO™ is currently approved for the treatment of candidemia and invasive candidiasis in adults, with an ongoing Phase III study for the prophylaxis of invasive fungal infections in adult patients undergoing allogeneic blood and marrow transplantation. The completion of the Phase III study for REZZAYO™ is expected in 1H 2026.

"This acquisition is a transformational step in the evolution of CorMedix, providing an attractive revenue base of highly synergistic assets, as well as multiple opportunities to drive future growth. We are excited to acquire Melinta, which enables us to expand our product portfolio in the hospital space while delivering therapies to patients with high unmet need," said Joseph Todisco, CEO of CorMedix Inc. "I would like to congratulate Christine Ann Miller, Melinta Therapeutics President & CEO, on building a high-performing organization. The combination with Melinta creates a formidable and diversified specialty platform with a deep and experienced team in the hospital acute care and infectious disease arena. This transaction reflects the type of high-impact, cash-flow generating opportunities we are targeting and strengthens our position to further expand, as we strive to create shareholder value through both organic growth and additional acquisitions in the future."

"The synergistic combination of Melinta and CorMedix represents an exciting new chapter in our company's evolution," said Christine Ann Miller, President and CEO of Melinta Therapeutics. "Over the past five years, we have built a robust commercial infrastructure with a high-performing team, deep expertise, and relationships within the hospital and acute care ecosystem, while achieving significant revenue growth and sustained profitability. CorMedix recognizes not just our innovative therapies, but the exceptional capabilities of our organization. I'm confident that Melinta's commercial excellence and proven track record will augment CorMedix's team and track record of operational execution and success, to create an even stronger platform for future growth."

**Strategic and Financial Benefits**

● **Strengthens portfolio with multiple growth driving assets -** Seven marketed products (MINOCIN®, REZZAYO™, VABOMERE®, ORBACTIV™, BAXDELA®, KIMYRSA®, and TOPROL-XL®) will add revenue and expanded reach in infectious disease.

● **Diversifies and increases portfolio and revenue base and cash flow -** Melinta's portfolio generated total revenues of $120 million in 2024 and is expected to deliver $125 million to $135 million of revenue for FY 2025.

● **Growth asset in REZZAYO™ for prophylaxis -** Ongoing Phase III study of REZZAYO™, if successful, is expected to support a supplemental New Drug Application (sNDA) for expanded use for the prophylaxis of invasive fungal infections in adult patients undergoing allogeneic blood and marrow transplant. If approved, peak annual sales for REZZAYO™ in this indication could exceed $200 million.

● **Upside growth potential with BARDA collaborations for BAXDELA® and VABOMERE® -** BARDA has awarded Melinta funding for the development of both products for use in pediatric patient populations and against biothreat pathogens.

● **Strong fit with existing CorMedix infrastructure and future deployment needs** – With the potential to achieve annual run-rate synergies of $35 million to $45 million in the near-term, the combination sets the stage for the future potential expansion of DefenCath® into total parenteral nutrition (TPN), for which inpatient utilization is expected to be significant. CorMedix expects that if approved, peak annual sales of DefenCath® in the TPN indication will be $150 to $200 million.

● **Acquisition is expected to be highly accretive in 2026** 

**Terms and Financing**

Under the terms of the agreement, which has been approved by the CorMedix and Melinta Board of Directors respectively, CorMedix will pay $300 million in upfront consideration, comprised of $260 million in cash and $40 million in CorMedix equity issued to Melinta shareholders of Deerfield Management Company, L.P. ("Deerfield"). The cash consideration will be funded by a combination of CorMedix's existing cash on hand and the proceeds of a $150 million convertible debt financing with high quality healthcare focused institutional investors, including Deerfield, the terms of which will be described in a Current Report on Form 8-K to be filed by the Company today. The agreement contains an additional regulatory milestone of up to $25 million (payable in cash or shares at CorMedix's election) for the FDA approval of the expanded indication of REZZAYO™ for prophylaxis of invasive fungal infections in adults undergoing allogeneic blood and marrow transplantation, if this milestone event is achieved by June 30, 2029. Furthermore, the agreement includes tiered royalties on REZZAYO™ U.S. net sales and low-single-digit royalties on MINOCIN® U.S. net sales.

The transaction is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the 'HSR Act'). The Company expects the transaction to close as early as September 1, 2025.

**Full Year Financial Guidance**

● Pro Forma 2025 Revenue: $305 million – $335 million

● Pro Forma 2025 Synergized Adjusted EBITDA: $150 million – $170 million

● DefenCath® 2025 Revenue: $180 million – $200 million

**Advisors**

Moelis & Company LLC is acting as exclusive financial advisor for CorMedix in connection with the acquisition of Melinta and sole placement agent for convertible debt financing. Willkie Farr & Gallagher LLP is acting as legal advisor to CorMedix in connection with the acquisition of Melinta and the convertible debt financing. RBC Capital Markets is acting as a financial advisor to CorMedix in connection with the convertible debt financing. Goodwin Procter LLP is acting as a legal advisor to Moelis & Company LLC for the convertible debt financing.

**Conference Call and Webcast Information**

Management will host a conference call and a live webcast today, August 7, 2025, at 8:30 a.m. ET, to discuss the transaction and CorMedix's second quarter 2025 financial results. The conference call can be accessed by dialing 1-844-676-2922 from the United States or 1-412-634-6840 internationally. The live webcast will be accessible in the "Presentations & Events" section of the CorMedix Investor Relations website or using the following Webcast Link.

**About CorMedix**

CorMedix Inc. is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of life-threatening conditions and diseases. The Company is focused on commercializing its lead product DefenCath® (taurolidine and heparin) which was approved by the FDA on November 15, 2023. CorMedix commercially launched DefenCath® in inpatient settings in April 2024 and in outpatient settings in July 2024. CorMedix is commencing clinical studies in Total Parenteral Nutrition and Pediatric patient populations in 2025 and also intends to develop DefenCath® as a catheter lock solution for use in other patient populations. For more information visit: www.cormedix.com.

**About Melinta**

Melinta Therapeutics is a biopharmaceutical company dedicated to providing innovative therapies to people impacted by acute and life-threatening illnesses. We focus our expanding portfolio on serving patients with an unmet need because that's how we make the most meaningful impact. At Melinta, we're visionaries dedicated to innovation while staying grounded in what matters most: patients. Our portfolio currently includes seven commercial-stage products: MINOCIN® (minocycline), REZZAYO™ (rezafungin), VABOMERE® (meropenem and vaborbactam), ORBACTIV™ (oritavancin), BAXDELA® (delafloxacin), KIMYRSA® (oritavancin), and TOPROL-XL® (metoprolol succinate). For more information about Melinta Therapeutics, our commitment to patients, and to learn about our portfolio of therapies, visit www.melinta.com.

**Forward-Looking Statements**

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange, as amended (the "Exchange Act"), that are subject to risks and uncertainties. Forward-looking statements are often identified by the use of words such as, but not limited to, "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "will," "plan," "project," "seek," "should," "target," "will," "would," and similar expressions or variations intended to identify forward-looking statements. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or CorMedix's prospects should be considered forward-looking statements. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, and readers are directed to the Risk Factors identified in CorMedix's filings with the SEC, including its most recent Annual Report on Form 10-K, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from CorMedix and in the Quarterly Report on Form 10-Q for the quarter ended, on June 30, 2025. CorMedix may not actually achieve the goals or plans described in its forward-looking statements, and such forward-looking statements speak only as of the date of this press release. Investors should not place undue reliance on these statements. CorMedix assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Actual outcomes or results may differ from anticipated results, sometimes materially. Factors that could cause actual results to differ include, but are not limited to: the ultimate outcome of the acquisition of Melinta; the satisfaction of the conditions to the closing of the proposed transaction in a timely manner; the ability of the combined company to achieve the identified synergies; the ability to integrate the Melinta business into CorMedix and realize the anticipated strategic benefits of the transaction within the expected time-frames or at all; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of Melinta; the expected benefits and success of Melinta's products and product candidates; potential litigation relating to the potential transaction that could be instituted against CorMedix or its directors; rating agency actions and CorMedix's ability to access short- and long-term debt markets on a timely and affordable basis; general economic conditions that are less favorable than expected; geopolitical developments and additional changes in international trade policies and relations, including tariffs; and the ability of our products and product candidates to compete effectively against current and future competitors.

**Investor Contact:**

Dan Ferry<br> Managing Director<br> LifeSci Advisors

daniel@lifesciadvisors.com<br> (617) 430-7576

## Exhibit 99.3

**Exhibit 99.3**

**Selected Melinta Therapeutics, LLC Financial Information<sup>1</sup>**

---

| | | | |
|:---|:---|:---|:---|
| **($ in millions)** | **2024A** | **Q1 2025A** | **Q2 2025A** |
| &nbsp;&nbsp;&nbsp;Net Product Revenue | $**106** | $**26** | $29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contract Revenue | 11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;License and Other Revenue | 2 |  |  |
| &nbsp;&nbsp;&nbsp;Other Revenue<sup>2</sup> | $14 | $4 | $4 |
| **Total Revenue** | $**120** | $**30** | $**33** |
| &nbsp;&nbsp;&nbsp;Cost of Goods Sold | $(27) | $(7) | $(8) |
| **Gross Profit** | $**93** | $**23** | $**26** |
| &nbsp;&nbsp;&nbsp;% Margin | 77% | 77% | 77% |
| &nbsp;&nbsp;&nbsp;Research & Development | $(15) | $(4) | $(5) |
| &nbsp;&nbsp;&nbsp;Selling, General and Administrative | (75) | (19) | (20) |
| **Total Operating Expenses** | $**(90)** | $**(23)** | $**(25)** |
| **Income / (Loss) From Operations** | $**3** | $**0** | $**1** |
| &nbsp;&nbsp;&nbsp;% Margin | 2% | 1% | 3% |
| &nbsp;&nbsp;&nbsp;Interest Income | $**1** | $**0** | $0 |
| &nbsp;&nbsp;&nbsp;Interest Expense | (8) | (2) | (2) |
| &nbsp;&nbsp;&nbsp;Other (Expense) Income<sup>3</sup> | (1) | 0 | 2 |
| **Loss Before Income Taxes** | $**(5)** | $**(1)** | $**1** |
| &nbsp;&nbsp;&nbsp;Income Tax Provisions | - | - | - |
| **Net Income / (Loss)** | $**(5)** | $**(1)** | $**1** |

---

Source: Melinta Management

<sup>1</sup> 2025A quarterly financials are preliminary and unaudited.

<sup>2</sup> 2024A financials break out "Other Revenue" into "Contract Revenue" and "License and Other Revenue". Q1 2025A and Q2 2025A financials do not break out "Other Revenue" and only report one line item.

<sup>3</sup> Q1 2025A and Q2 2025A financials break out "Other (Expense) Income" into "Gain (Loss) on Foreign Exchange" and "Income and Other Taxes". 2024A financials do not break out "Other (Expense) Income" and only report one line item.

## Exhibit 99.4

**Exhibit 99.4**![](ex99-4_001.jpg)

Acquisition of Melinta Therapeutics August 7, 2025

![](ex99-4_002.jpg)

Disclaimer This presentation contains "forward - looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 , Section 27 A of the Securities Act, and Section 21 E of the Exchange, as amended (the "Exchange Act"), that are subject to risks and uncertainties . Forward - looking statements are often identified by the use of words such as, but not limited to, "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "will," "plan," "project," "seek," "should," "target," "will," "would," and similar expressions or variations intended to identify forward - looking statements . All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or CorMedix's prospects should be considered forward - looking statements . Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, and readers are directed to the Risk Factors identified in CorMedix's filings with the SEC, including its most recent Annual Report on Form 10 - K, copies of which are available free of charge at the SEC's website at www . sec . gov or upon request from CorMedix and in the Quarterly Report on Form 10 - Q for the quarter ended, on June 30 , 2025 . CorMedix may not actually achieve the goals or plans described in its forward - looking statements, and such forward - looking statements speak only as of the date of this presentation . Investors should not place undue reliance on these statements . CorMedix assumes no obligation and does not intend to update these forward - looking statements, except as required by law . Forward - looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties . Actual outcomes or results may differ from anticipated results, sometimes materially . Factors that could cause actual results to differ include, but are not limited to : the ultimate outcome of the acquisition of Melinta ; the satisfaction of the conditions to the closing of the proposed transaction in a timely manner ; the ability of the combined company to achieve the identified synergies ; the ability to integrate the Melinta business into CorMedix and realize the anticipated strategic benefits of the transaction within the expected time - frames or at all ; that such integration may be more difficult, time - consuming or costly than expected ; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction ; the retention of certain key employees of Melinta ; the expected benefits and success of Melinta's products and product candidates ; potential litigation relating to the potential transaction that could be instituted against CorMedix or its directors ; rating agency actions and CorMedix's ability to access short - and long - term debt markets on a timely and affordable basis ; general economic conditions that are less favorable than expected ; geopolitical developments and additional changes in international trade policies and relations, including tariffs ; and the ability of our products and product candidates to compete effectively against current and future competitors . 2

![](ex99-4_003.jpg)

» $300mm total upfront consideration funded through cash on hand, concurrent debt financing, and stock » Financing mix includes $260mm in upfront cash from concurrent debt financing and CorMedix balance sheet; $40mm in equity Upfront Consideration Transaction Overview and Timeline 3 CorMedix Inc. ("CorMedix") (NASDAQ: CRMD) has announced a definitive agreement to acquire Melinta Therapeutics, LLC (" Melinta "), a commercial - stage company providing innovative therapies for acute and life - threatening illnesses Transaction » Up to $25mm (payable in cash or shares at CorMedix's election) upon the FDA approval for prophylaxis of invasive fungal infections in adults undergoing allogeneic blood and marrow transplantation Rezzayo Earnout » Tiered royalties on REZZAYO U.S. calendar year net sales » Low single - digit royalties on MINOCIN® U.S. calendar year net sales Royalty Payments » Anticipated close as early as September 2025, subject to customary closing conditions and regulatory approvals » Working closely with Melinta on integration planning to ensure continued success Timing & Integration

![](ex99-4_004.jpg)

~$120mm ~$43mm 2024A Revenue $125mm – 135mm $180mm – 200mm 2025E Revenue $35mm – 45mm annually Expected Synergies $305mm – 335mm 2025E Pro Forma Revenue 2 $150mm – 170mm 1 2025E Pro Forma Synergized Adjusted EBITDA 2 Pro Forma Financial Highlights 4 1. Takes into account 100% realization and a full year run - rate of estimated synergies. 2. The pro forma results were prepared by combining the audited financial results and estimated financial results for CorMedix a nd Melinta (as of December 31, 2024), without further adjustment. As a result, we believe this pro forma financial information includes non - GAAP financial measures. CorMedix and Melinta have not provided a reconciliation of non - GAAP measures, including Adjusted EBITDA, to the most directly comparable GAAP measures because certain items excluded from GAAP cannot be reasonably calculated or predicted at this time. Accordingly , a reconciliation is not available without unreasonable effort. Pro forma financial information does not necessarily reflect the actual results that we would have achieved had the pro forma transaction been co nsu mmated as of the date indicated nor does it reflect the potential future results of the combined company. Combined portfolio delivers compelling financial profile to deliver growth and fund future business development

![](ex99-4_005.jpg)

Compelling Transaction Rationale 5 Establishes a robust commercial hospital / acute care platform that can scale with additional products Diversified revenue base with acute care portfolio consisting of 8 commercial products with potential label expansion opportunities Enhanced financial scale with $305mm – 335mm in 2025E pro forma revenues and $150mm – 170mm in pro forma synergized adjusted EBITDA 1,2 Multiple "shots - on - goal" for potential upside from near - term regulatory events and label expansion opportunities Estimated synergies of $35mm – 45mm annually and near - term accretive to CorMedix, with double digit EPS accretion projected in 2026 Dynamic platform can accommodate additional products and expand as the combined company enters its next phase of business development 1 2 3 4 5 6 1. Takes into account 100% realization and a full year run - rate of estimated synergies. 2. The pro forma results were prepared by combining the audited financial results and estimated financial results for CorMedix a nd Melinta (as of December 31, 2024), without further adjustment. As a result, we believe this pro forma financial information includes non - GAAP financial measures . CorMedix and Melinta have not provided a reconciliation of non - GAAP measures, including Adjusted EBITDA, to the most directly comparable GAAP measur es because certain items excluded from GAAP cannot be reasonably calculated or predicted at this time. Accordingly, a reconcilia tio n is not available without unreasonable effort. Pro forma financial information does not necessarily reflect the actual results that we would have achieved had the pro forma transaction been consummated as of the date indicate d n or does it reflect the potential future results of the combined company.

![](ex99-4_006.jpg)

Combined CorMedix and Melinta Business Highlights 6 1. Highly differentiated and diverse acute care portfolio consisting of 8 commercial products with potential label expansion opportunities 2. Channel focused and TA - agnostic portfolio provides a strong foundation for an active business development strategy 3. Highly efficient commercial team with account - by - account playbook and acute care focused strategy facilitates product adoption and integration 4. Dynamic platform can accommodate additional products and expand as the combined company enters its next phase of business development 1. REZZAYO growth opportunities through potential approval of prophylaxis of invasive fungal infections indication x Larger patient population, with potentially ~130K additional patients x Longer length of therapy (13 weeks for Prophy vs. 4 weeks) x Expands portfolio and reach into heme - onc and transplant, providing synergistic growth x Lower barriers to access as utilization is less dependent on hospital formulary approval process 2. Commenced TPN study for DefenCath® in 2Q 2025 on the prevention of CLABSI (Central Line Associated Blood Stream Infection) in patients receiving TPN x Anticipate completion of study and NDA submission in late 2026 / early 2027 Establishes a robust commercial hospital / acute care platform that can scale with additional products Multiple "shots - on - goal" for potential upside from upcoming regulatory events and label expansion opportunities 1 2 3 4 1 2

![](ex99-4_007.jpg)

7 Melinta Overview and Business History Acquired the Infectious Disease Businesses from The Medicines Company ("Medicines") adding VABOMERE® , ORBACTIV and MINOCIN® to the portfolio June 2017 Received approval for its first drug BAXDELA® January 2018 March 2021 – July 2021 KIMYRSA® approved by FDA in Mar 2021 and launched in Jul 2021 April 2022 Acquired U.S. rights to TOPROL - XL® (metoprolol succinate) and its authorized generic from New American Therapeutics July 2022 – July 2023 REZZAYO licensed from Cidara in Jul 2022; received FDA approval in Mar 2023 and launched in Jul 2023 Today CorMedix announces acquisition Company Overview Product Portfolio Fully integrated and commercial - stage acute care channel focused platform for growth. Established hospital ecosystem focused infrastructure with seasoned customer facing employees 7 commercial products: BAXDELA® , KIMYRSA® , MINOCIN® , ORBACTIV , REZZAYO , TOPROL - XL® , and VABOMERE® Meaningful synergy potential with CorMedix's existing inpatient business, expected to be realized near - term post - acquisition. Target overlapping call - points include Hospitals, IDNs, Clinics, Physician Office Infusion Centers, Home Infusion, and Long - Term Acute Care Centers Potential for significant expansion opportunities through REZZAYO label expansion to prophylaxis, and Government contracts provide funding for pediatric and biodefense programs for BAXDELA® and VABOMERE® Recent Melinta Developments

![](ex99-4_008.jpg)

Combined Product Portfolio Creates a diversified portfolio with eight products largely focused in hospital / acute care and two near - term pipeline opportun ities Commercial Ph III / Registrational Ph II Ph I Pre - Clinical Indication Product Hemodialysis Hemodialysis (Pediatric label expansion) Total Parenteral Nutrition (TPN) Oncology Candidemia and invasive candidiasis Prophylaxis Serious infections including Acinetobacter Complicated Urinary Tract Infections (cUTIs) Acute Bacterial Skin and Skin Structure Infections (ABSSSI) and Community Acquired Bacterial Pneumonia (CABP) ABSSSI ABSSSI Hypertension, Coronary Artery Disease, Heart Failure Commercial CorMedix Contribution Melinta Contribution Pre - Clin. Commercial Registrational Commercial Commercial Commercial Commercial Commercial Commercial Registrational Registrational 8

## Exhibit 99.5

**Exhibit 99.5**

August 6, 2025

CorMedix Inc.

300 Connell Drive, Suite 4200

Berkeley Heights, New Jersey 07922

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| **Re:** | **Subscription for 4.00% Convertible Senior Notes due 2030** |

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Ladies and Gentlemen:

CorMedix Inc., a Delaware corporation (the "**Company**"), is offering the undersigned investor (the "**Investor**"), on behalf of itself and each account (if any) listed on <u>Exhibit A</u> hereto for whom the Investor has been duly authorized to enter into this agreement (each, including the Investor if it is listed on <u>Exhibit A</u>, a "**Subscriber**"), the opportunity to subscribe for and purchase from the Company its 4.00% Convertible Senior Notes due 2030 (such notes, together with all notes being offered to other investors substantially concurrently with the offer of such notes in connection with this Subscription Agreement, the "**Notes**") for cash pursuant and subject to the terms and conditions set forth in this agreement (this "**Subscription Agreement**" or this "**Agreement**" and any such subscription, the "**Subscription**"). Each Subscriber (other than the Investor) is referred to herein as an "**Account**."

The Investor and each Account understands that the Subscription is being made without registration under the Securities Act of 1933, as amended (the "**Securities Act**"), or registration or qualification under any securities laws of any state of the United States or of any other jurisdiction, and that the Subscription is only being made to investors who are institutional "accredited investors" (within the meaning of Rule 501 of Regulation D under the Securities Act) that are also "qualified institutional buyers" (within the meaning of Rule 144A under the Securities Act) in reliance upon an exemption from registration under Section 4(a)(2) of the Securities Act.

The terms of the Notes are set forth in, and the Notes will be issued pursuant to, an Indenture, substantially in the form attached hereto as <u>Exhibit D</u> (the "**Indenture**"), to be entered into as of the Closing Date (as defined below) between the Company and U.S. Bank Trust Company, National Association, as Trustee (the "**Trustee**"). The Notes will be convertible into shares ("**Underlying Shares**") of common stock of the Company, par value $0.001 per share ("**Common Stock**"), cash, or a combination of cash and Underlying Shares, at the Company's election, in accordance with the terms of the Indenture. Simultaneously with the execution of this Agreement, (i) certain other investors are subscribing for Notes (the "**Other Noteholders**") pursuant to subscription agreements substantially similar to this Agreement (the "**Other Agreements**") and (ii) the Company has entered into an escrow agreement with U.S. Bank Trust Company, as escrow agent, a copy of which is attached hereto as <u>Exhibit E</u> (the "**Escrow Agreement**") pursuant to which proceeds from the sale of the Notes will be placed into an escrow account (the "**Escrow Account**") and released in accordance with the terms of thereof and hereof.

The Company intends to use the proceeds from this offering of Notes to fund a portion of the purchase price under that certain agreement and plan of merger, dated as of the date hereof, by and among the Company, Melinta Therapeutics, LLC, a Delaware limited liability company (the "**Target**"), Coriander BidCo LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company, and Deerfield Private Design Fund IV, L.P., a Delaware limited partnership, solely in its capacity as representative, agent and attorney-in-fact of the Melinta equityholders (the "**Merger Agreement**"), to pay related fees and expenses relating to the Merger Agreement and for general corporate purposes.

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>The Subscription</u>. Subject to the terms and conditions of this Agreement, the Investor, on behalf
of itself and each participating Account, hereby agrees to purchase from the Company, and the Company hereby agrees to issue and sell
to the Investor and/or any such Account, as applicable, Notes (the "**Purchased Notes**") having an aggregate principal
amount as set forth in column 2 of <u>Exhibit A</u> hereto, for an aggregate purchase price in cash in respect of such Purchased Notes
as set forth in column 3 of <u>Exhibit A</u> hereto (such aggregate cash purchase price, the "**Cash Purchase Price** ").
For the avoidance of doubt, such Cash Purchase Price shall not be adjusted for accrued interest if the Closing (as defined below) occurs
after August 12, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>The Closing</u>. The closing of the Subscription (the "**Closing**") shall take place electronically at approximately
10:00 AM, New York City time, on August 12, 2025, or at such other time and place as the Company may designate by written notice to the
Investor (the "**Closing Date** "); provided that the Closing Date cannot be later than August 15, 2025 (the "**Outside Date** "), without the prior written consent of the Investor. To facilitate the Closing, substantially concurrently with execution
of this Agreement, the Investor, on behalf of itself and/or any other Account, shall transfer the Cash Purchase Price by wire in immediately
available funds into the Escrow Account. Until the Closing, and subject to the satisfaction of the conditions precedent specified under
Section 6(a), the Investor's Cash Purchase Price will be held in the Escrow Account solely for the benefit of the Investor. Subject
to the satisfaction of the conditions precedent specified in Section 6(a), concurrent with the issuance and delivery of the Purchased
Notes at the Closing, the Investor's Cash Purchase Price deposited and held in the Escrow Account solely for the benefit of the
Company (and become the property of the Company), subject to release pursuant to the provisions thereof and hereof (including Section
4(s)). Upon any termination of this Agreement prior to the Closing as provided in Section 25 hereof, the Investor's Cash Purchase
Price held in the Escrow Account will be returned to the Investor within one (1) business day thereof. Without limiting the foregoing,
the Company will deliver such notice to the Escrow Agent, and take any other action, necessary, to effectuate the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Closing Mechanics</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The Depository Trust Company ()"**DTC**") will act as securities depositary for the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. On the Closing Date, subject to satisfaction of the conditions precedent specified in <u>Section 6</u> hereof, and the prior receipt by the Escrow Agent of the Cash Purchase Price from the Investor on behalf of each Subscriber as set forth
in Section 2,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. the Company shall execute and deliver the Indenture, dated as of the Closing Date, between the Company and the Trustee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. the Company shall execute, cause the Trustee to authenticate and cause the Purchased Notes to be delivered
to the DTC account(s) specified by the Investor or the relevant Account in <u>Exhibit C</u> hereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Subject to the satisfaction of the conditions precedent specified in Section 6(a) hereof, at the Closing
and in accordance with Section 2, the Investor's Cash Purchase Price held in the Escrow Account will become the property of the
Company and continue be held in the Escrow Account solely for the benefit of the Company, subject to release pursuant to the provisions
hereof and of the Escrow Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Representations and Warranties of the Company</u>. The Company represents and warrants, on the date
hereof and on the Closing Date, to, and covenants with, the Investor (and each Account, as applicable) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Organization*. The Company is duly organized, validly existing and in good standing under the laws
of the State of Delaware, with full power and authority to conduct its business as it is currently being conducted and to own its assets.
The Company has full power and authority to consummate the Subscription (and the subscriptions for the Notes purchased by Other Noteholders)
and to enter into this Subscription Agreement and the Escrow Agreement and perform its obligations hereunder and thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Due Authorization*. This Subscription Agreement and the Escrow Agreement have been duly authorized,
executed and delivered by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. *Notes.* The Notes have been duly authorized by the Company and, when duly executed by the Company
in accordance with the terms of the Indenture, assuming due authentication of the Notes by the Trustee, upon delivery to the Investors
in accordance with the terms of the Subscription, will be validly issued and delivered and will constitute valid and binding obligations
of the Company entitled to the benefits of the Indenture, enforceable against the Company in accordance with their terms, except as such
enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium, and other laws relating to
or affecting creditors' rights generally and by general equitable principles (regardless of whether such enforceability is considered
in a proceeding in equity or at law) (collectively, the "**Enforceability Exceptions** "). The maximum number of Underlying
Shares initially issuable upon conversion of the Notes (assuming settlement in shares of Common Stock to the maximum extent permitted
by the Indenture and taking into account the maximum make-whole adjustment under the Indenture) have been duly and validly authorized
and reserved by the Company for issuance upon conversion of the Notes in accordance with the terms of the Notes and the Indenture and,
when issued upon conversion of the Notes in accordance with the terms of the Notes and the Indenture, will be validly issued, fully paid
and non-assessable, and the issuance of the Notes and any Underlying Shares will not be subject to any preemptive, participation, rights
of first refusal or similar rights and will not result in a right of any holder of the Company's securities to adjust the exercise,
conversion, exchange or reset price under, and will not result in any other anti-dilution or other adjustments (automatic or otherwise)
under, any securities of the Company. At or prior to the Closing, the Underlying Shares shall have been approved for listing on The Nasdaq
Stock Market LLC ()"**Nasdaq** "), subject only to notice of issuance, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. *Indenture.* The Company has all requisite corporate power and authority to perform its obligations
under the Indenture. The Indenture has been duly authorized by the Company and will have been duly executed and delivered by the Company
on or prior to the Closing. Assuming due authorization, execution and delivery by the Trustee thereto, the Indenture, upon execution and
delivery thereof by the Company, will constitute the valid and binding agreement of the Company, enforceable against the Company in accordance
with its terms, subject to the Enforceability Exceptions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. *Exemption from Registration.* Assuming the accuracy of the representations and warranties of the
Investor and the Other Noteholders executing Other Agreements, (1) the issuance of the Purchased Notes pursuant to this Subscription Agreement
is exempt from the registration requirements of the Securities Act, and (2) the Indenture is not required to be qualified under the
Trust Indenture Act of 1939, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. *New Class.* The Notes, when issued, will not be of the same class as any class of securities listed
on a national securities exchange registered under Section 6 of the Securities Exchange Act of 1934, as amended (the "**Exchange Act** "), or quoted in a U.S. automated inter-dealer quotation system, within the meaning of Rule 144A(d)(3)(i) under the Securities
Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. *No Conflicts*. The sale of the Notes pursuant to the Subscription Agreement and the Other Agreements
and, the execution, delivery and performance, as applicable, by the Company of its obligations under the Notes, the Indenture, the Escrow
Agreement and this Subscription Agreement, and the consummation of the transactions contemplated hereby and thereby, will not (i) conflict
with or result in a breach or violation of any of the terms or provisions of, impose any lien, charge or encumbrance upon any property
or assets of the Company or its subsidiaries, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement, license,
lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its
subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject, (ii) result in any
violation of the provisions of the charter or by-laws or similar organizational document of the Company or any of its subsidiaries or
(iii) result in any violation of any statute or any judgment, order, decree, rule or regulation of any court or arbitrator or federal,
state, local or foreign governmental agency or regulatory authority having jurisdiction over the Company or any of its subsidiaries or
any of their properties or assets, except, with respect to clauses (i) and (iii), conflicts, breaches, violations, impositions or defaults
that would not reasonably be expected to, individually or in the aggregate, have (1) a material adverse effect on the condition (financial
or otherwise), results of operations, stockholders' equity, properties, assets, business, operations, earnings or prospects of the
Company and its subsidiaries taken as a whole or (2) a material adverse effect on the performance by the Company of its obligations under
any Subscription Agreement, the Indenture or the Notes or the consummation of any of the transactions contemplated hereby or thereby (either
of clauses (1) or (2), a "**Material Adverse Effect** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. *No Consents*. No consent, approval, order or authorization of, or qualification with, any governmental
body or agency or regulatory authority (including, without limitation, under the rules and regulations of Nasdaq) is required on the part
of the Company in connection with the execution, delivery and performance, as applicable, by the Company of its obligations under the
Notes, the Indenture, the Escrow Agreement and this Subscription Agreement, and the consummation of the transactions contemplated hereby
and thereby other than (i) as has been or will be obtained and will be effective as of the Closing Date, (ii) as would not reasonably
be expected to have a Material Adverse Effect and (iii) as permitted to be filed or obtained after the Closing under applicable federal
and state securities laws.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. *Compliance with Laws*. The Company possesses all certificates, authorizations and permits issued
by the appropriate federal, state or foreign regulatory authorities as necessary under applicable law to conduct its businesses, except
where the failure to have such certificates, authorizations and permits would not reasonably be expected to, individually or in the aggregate,
have a Material Adverse Effect. The Company is in compliance in all material respects with all applicable rules of Nasdaq. The Company
has not received notice from Nasdaq that the Company is not in compliance with the listing or maintenance requirements thereof.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. *Subscription*. The Company acknowledges that the terms of the Subscription have been mutually negotiated
between the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. *No Material Adverse Effect*. Since December 31, 2024, there has not been any Material Adverse Effect
(as defined below). For the purposes of this subsection (i), "**Material Adverse Effect**" shall mean a material adverse
effect on the assets, business, operations, earnings, properties, prospects, condition (financial or otherwise), stockholders' equity
or results of operations of the Company and the Subsidiaries taken as a whole, or that would prevent the consummation of the transactions
contemplated hereby, individually or in the aggregate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. *Information*. The Company has filed all reports, schedules, forms, statements and other documents
required to be filed by the Company under the Securities Act and the Exchange Act, for the one year preceding the date hereof (the foregoing
materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the
" **Covered SEC Filings**") on a timely basis or has received a valid extension of such time of filing and has filed any
such SEC Reports prior to the expiration of any such extension. The Covered SEC Filings, taken as a whole, do not contain an untrue statement
of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading. No Covered SEC Filing, as of the date of such filing, contained an untrue statement of a material
fact or omitted to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading. The Company has never been an issuer subject to Rule 144(i) under the Securities Act.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m. *Solvency*. On each of the date hereof and immediately after giving effect to the Subscription, (A)
the present fair market value (or present fair saleable value) of the total assets of Company is not less than the total amount required
to pay the probable total liabilities (including contingent liabilities) of the Company as they mature and become absolute, (B) the capital
of the Company is adequate to conduct its business, (C) the Company has the ability to pay its debts and obligations as such debts mature,
and (D) the Company is not "insolvent" (as such term is defined under Section 101(32) of the U.S. Bankruptcy Code (Title 11
of the United States Code)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n. *Investment Company*. The Company is not, and after giving effect to the sale of the Notes and the
application of the proceeds therefrom, will not be required to register as an "investment company" under the Investment Company
Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o. *No Integration*. Neither the Company nor any person acting on its behalf has offered, sold or solicited
any offer to buy any security of any time or in any manner that would be integrated with the offer, sale and delivery of the Notes for
purposes of the Securities Act, or other than the Common Stock issued pursuant to the Merger Agreement, the rules and regulations of Nasdaq.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;p. *Reaffirmation at Closing*. The Company understands that, unless the Company notifies the Investor
in writing to the contrary prior to the Closing, each of the Company's representations and warranties contained in this Subscription
Agreement will be deemed to have been reaffirmed and confirmed as of the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;q. *Legal Proceedings*. There are no legal or governmental proceedings or regulatory investigations pending or, to the knowledge
of the Company, threatened that would reasonably be expected to have a Material Adverse Effect on the performance by the Company of its
obligations under this Agreement, the Escrow Agreement, the Indenture or the Notes or the consummation of any of the transactions contemplated
hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;r. *No General Solicitation*. The Company has not, nor to its knowledge has a person on the Company's
behalf, engaged in any form of general solicitation or general advertising within the meaning of Rule 502 under the Securities Act or
otherwise through a "public offering" within the meaning of Section 4(a)(2) of the Securities Act, in each case, in respect
of the transactions contemplated in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;s. *Escrow Agreement*. The Company acknowledges and agrees that the proceeds of the Subscription contemplated
hereunder by the Investor and Other Noteholders will be deposited into the Escrow Account on the date hereof. The Company acknowledges
and agrees that it will hold the funds in the Escrow Account for the benefit of the Investor until the Closing, at which time the funds
will be held in the Escrow Account for the benefit of the Company. The Company acknowledges and agrees that it will not release the proceeds
from the Escrow Account to the Company until the earlier of (1) if the Melinta Acquisition Closing Date is reasonably expected to occur,
up to three business days prior to the Melinta Acquisition Closing Date (as defined in the Indenture), solely for purposes of satisfying
the Company's payment obligations under the Merger Agreement, (2) if the Melinta Acquisition Termination Date (as defined in the
Indenture) has occurred and the Company has elected to pursue a Melinta Acquisition Redemption (as defined in the Indenture) prior to
the Redemption Date for the Melinta Acquisition Redemption, solely for purposes of satisfying the Melinta Acquisition Redemption pursuant
to Section 16.01 of the Indenture or (3) at any time after the Melinta Acquisition Outside Date has occurred and the Company has elected
not to pursue a Melinta Acquisition Redemption pursuant to Section 16.01 of the Indenture, provided, however, that if this Agreement is
terminated prior to the Closing, in accordance with Section 25, the Investor's Cash Purchase Price held in the Escrow Account will
be returned to the Investor within one (1) business day thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;t. *No Default*. No breach or violation of Section 4.10 of the Indenture will exist immediately following
the Closing Date or will result from the consummation of the issuance of the Notes or the transactions contemplated by the Merger Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;u. *Merger Agreement*. The Merger Agreement has been executed, or will have been executed , by the Company
and the other parties thereto prior to, and publicly announced concurrently with the announcement of the Subscription in the Announcing
Form 8-K at the Release Time and has not been terminated.

&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Representations and Warranties of the Investor</u>. The Investor hereby represents and warrants, on
the date hereof and on the Closing Date, to and covenants with the Company, on behalf of itself and each Account, as applicable, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The Investor is a corporation, limited partnership, limited liability company or other entity, as the
case may be, duly formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation, organization
or formation, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. This Agreement, when executed and delivered, has been duly authorized, executed and delivered by the Investor
and constitutes the valid and binding obligation of the Investor and each Account, enforceable in accordance with its terms, except that
such enforcement may be subject to the Enforceability Exceptions. If the Investor is executing this Agreement on behalf of an Account,
(i) the Investor has all requisite discretionary and contractual authority to enter into this Agreement on behalf of, and, bind, each
Account to the terms of this Agreement, and (ii) <u>Exhibit A</u> hereto is a true, correct and complete list of the name of each Subscriber
and the aggregate principal amount of Purchased Notes each such Subscriber agrees to purchase hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Participation in the Subscription will not contravene (1) any law, rule, regulation or governmental
or judicial decrees, injunctions or orders binding on the Investor or any Account or any investment guideline or restriction applicable
to the Investor (or, if applicable, any Account), (2) the charter or bylaws (or equivalent organizational documents) of the Investor
(or, if applicable, any Account) or (3) any agreement or instrument to which the Investor or any Account is a party or by which the Investor
or any Account or any of their respective assets are bound, except with respect to clauses (1) and (3), contraventions that would not
reasonably be expected to, individually or in the aggregate, have a material adverse effect on the performance by the Investor (or any
Account) of its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. The Investor (or applicable Account) is a resident of the jurisdiction set forth in <u>Exhibit C</u> and,
unless otherwise set out in <u>Exhibit A</u> hereto, as applicable, is not acquiring the Purchased Notes as a nominee or agent or otherwise
for any other person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. In connection with the Investor's (or applicable Account's) purchase of Notes hereunder, the
Investor and each Account will comply with all laws and regulations applicable to the Investor and any such Account in effect in any jurisdiction
in which the Investor or such Account purchases or Notes and will obtain any consent, approval or permission required for such purchases
under the laws and regulations of any jurisdiction to which the Investor or such Account is subject or in which the Investor or such Account
makes such purchases, and the Company shall not have any responsibility therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. The Investor and each Account has received a copy of the Indenture. The Investor acknowledges that: (1)
no person has been authorized to give any information or to make any representation concerning the Subscription or the Company or any
of its subsidiaries, other than as contained in this Agreement or the Indenture, in the Company's filings with the SEC or in the
information given by the Company's duly authorized officers and employees in connection with the Investor's examination of
the Company and its subsidiaries and the terms of the Subscription; and (2) the Company and its subsidiaries do not take any responsibility
for, and cannot provide any assurance as to the reliability of, any other information that may have been provided to the Investor. The
Investor hereby acknowledges that Moelis & Company LLC (the "**Placement Agent**") does not take any responsibility
for, and can provide no assurance as to the reliability of, the information set forth in the Indenture or any such other information provided
or deemed provided to the Investor or any Account by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. The Investor and each Account understands and accepts that acquiring the Notes in the Subscription involves
risks. The Investor and each Account has such knowledge, skill and experience in business, financial and investment matters that the Investor
and each Account is capable of evaluating the merits and risks of the Subscription and an investment in the Notes. With the assistance
of its own professional advisors (to the extent the Investor and each Account has deemed appropriate), the Investor and each Account has
made its own legal, tax, accounting and financial evaluation of the merits and risks of an investment in the Notes and the consequences
of the Subscription and this Agreement. The Investor and each Account has considered the suitability of the Notes as an investment in
light of its own circumstances and financial condition, and the Investor is and each Account is able to bear the risks associated with
an investment in the Notes. The Investor and each Account understands that it should consult with its own tax advisors in order to determine
the U.S. federal, state, local and non-U.S. tax consequences of the ownership, disposition or conversion of the Notes or Underlying Shares,
in light of the Investor's and each Account's particular circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. The Investor confirms that neither it nor any Account is relying on any communication (written or oral)
of the Company or the Placement Agent or any of their respective agents or affiliates as investment advice or as a recommendation to participate
in the Subscription and receive the Notes pursuant to the terms hereof. The Investor confirms that it has read the Indenture relating
to the Notes and has not relied on any statement (written or oral) (other than those contained in this Agreement, the Indenture and the
Notes) of the Company, the Placement Agent or any of their respective affiliates as to the terms of the Notes. It is understood that information
provided in the Indenture, or by the Company or the Placement Agent or any of their respective agents or affiliates, shall not be considered
investment advice or a recommendation with respect to the Subscription, and that none of the Company, the Placement Agent or any of their
respective agents or affiliates is acting or has acted as an advisor to the Investor or any Account in deciding whether to participate
in the Subscription.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The Investor confirms, for itself and for each Account, that neither the Company nor the Placement Agent
has (1) given any guarantee or representation as to the potential success, return, effect or benefit (either legal, regulatory, tax,
financial, accounting or otherwise) of an investment in the Notes, or (2) other than the representations and warranties of the Company
expressly set forth in this Agreement, made any representation to the Investor regarding the legality of an investment in the Notes under
applicable investment guidelines, laws or regulations. In deciding to participate in the Subscription, neither the Investor nor any Account
is relying on the advice or recommendations of the Company or the Placement Agent, and the Investor and each Account has made its own
independent decision that the investment in the Notes is suitable and appropriate for the Investor or such Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. The Investor and each Account is a sophisticated participant in the transactions contemplated hereby and
has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment
in the Notes, is experienced in investing in capital markets and is able to bear the economic risk of an investment in the Notes. The
Investor and each Account is familiar with the business and financial condition and operations of the Company and its subsidiaries, has
conducted its own investigation of the Company and its subsidiaries and the Notes and has consulted with its own advisors concerning such
matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated hereby. The
Investor and each Account has had access to the Company's filings with the SEC and such other information concerning the Company
and its subsidiaries and the Notes as it deems necessary to enable it to make an informed investment decision concerning the Subscription.
The Investor and each Account has been offered the opportunity to ask questions of the Company and its representatives and has received
answers thereto as the Investor or such Account deems necessary to enable it to make an informed investment decision concerning the Subscription
and the Notes. Neither such inquiries nor any other due diligence investigations conducted by such Investor, such Account or its advisors,
or its representatives shall modify, amend or affect such Investor's right to rely on the Company's representations and warranties
contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. The Investor and each Account understands that no federal, state, local or foreign agency has passed upon
the merits or risks of an investment in the Notes or made any finding or determination concerning the fairness or advisability of such
investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. The Investor and each Account is an institutional "accredited investor" as defined in Rule
501 of Regulation D under the Securities Act as well as a "qualified institutional buyer" as defined in Rule 144A under the
Securities Act. The Investor, for itself and on behalf of each Account, agrees to furnish any additional information reasonably requested
by the Company or any of its affiliates to assure compliance with applicable U.S. federal and state securities laws in connection with
the Subscription.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m. The Investor and each Account is not directly, or indirectly through one or more intermediaries, controlling
or controlled by, or under direct or indirect common control with, the Company and is not, and has not been for the immediately preceding
three months, an "affiliate" (within the meaning of Rule 144 under the Securities Act) of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n. The Investor and each Account is acquiring the Notes solely for the Investor's or such Account's
own beneficial account, or for an account with respect to which the Investor or such Account exercises sole investment discretion, and
not with a view to, or for resale in connection with, any distribution of the Notes in violation of the Securities Act; *provided, however*,
that by making the representations herein neither the Investor nor any Account agrees to hold any Notes for any minimum or other specific
term and reserves the right to assign, transfer or otherwise dispose of any of the Notes at any time pursuant to an effective registration
statement under, or an exemption from the registration requirements of the Securities Act. The Investor and each Account understands that
the offer and sale of the Notes have not been registered under the Securities Act or qualified under any state securities laws by reason
of specific exemptions under the provisions thereof that depend in part upon the investment intent of the Investor or each Account and
the accuracy of the other representations made by the Investor and each Account in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o. The Investor and each Account understands that the Company is relying upon the representations and agreements
contained in this Agreement (and any supplemental information) for the purpose of determining whether the Investor's and such Account's
participation in the Subscription meets the requirements for the exemptions referenced in <u>clause ‎(n)</u> above. In addition,
the Investor and each Account acknowledges and agrees that any hedging transactions engaged in by the Investor or such Account after such
Investor or Account was wall crossed and prior to the Release Time in connection with the issuance and sale of the Notes have been and
will be conducted in compliance with the Securities Act and the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;p. The Investor and each Account acknowledges that neither the Notes nor the Underlying Shares have been
registered under the Securities Act. As a result, the Notes, and if converted to Underlying Shares, the Underlying Shares, may not be
offered or sold within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from,
or in a transaction not subject to, the registration requirements of the Securities Act as described in the Indenture (including, but
not limited to, the Restrictive Legend (as defined in the Indenture) and Section 2.05 of the Indenture), and the Investor, for itself
and on behalf of each Account, hereby agrees that neither it nor any Account will sell the Notes nor the Underlying Shares other than
in compliance with such transfer restrictions. Further, the Investor and each Account acknowledges that (1) the Notes and, if converted
to the Underlying Shares, the Underlying Shares, will carry a restrictive legend consistent with the foregoing and (2) the Notes and,
if converted to the Underlying Shares, the Underlying Shares will be designated with a restricted CUSIP number, in each case until such
time as the restrictive legend can be removed in the Company's reasonable judgment or as otherwise required by the Indenture. The
Investor and each Account further acknowledges that if an exemption from registration is available that would allow for the removal of
such restrictive legends, it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the
holding period for the securities and on requirements relating to the Company that are outside of the control of the Investor and each
Account, and that the Company is under no obligation and may not be able to satisfy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;q. The Investor and each Account acknowledges that the terms of the Subscription have been mutually negotiated
between the Investor (for itself and on behalf of each Account), and the Company. The Investor was given a meaningful opportunity to negotiate
the terms of the Subscription on behalf of itself and each Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;r. The Investor and each Account acknowledges the Company intends to pay an advisory fee to the Placement
Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;s. The Investor agrees that following the Closing, the Company and the Placement Agent are permitted to issue
a press release or make any similar public statement with respect to the transactions contemplated hereby, including in such documents
filed with the SEC, provided, however, that such public statement or press release shall not name the Investor without the Investor's
prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;t. The Investor and each Account understands that, unless the Investor notifies the Company in writing to
the contrary prior to the Closing, each of the Investor's representations and warranties contained in this Agreement will be deemed
to have been reaffirmed and confirmed as of the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;u. The Investor acknowledges that it and each Account had a sufficient amount of time to consider whether
to participate in the Subscription and that neither the Company nor the Placement Agent has placed any pressure on the Investor or any
Account to respond to the opportunity to participate in the Subscription. The Investor acknowledges that neither it nor any Account became
aware of the Subscription through any form of general solicitation or advertising within the meaning of Rule 502 under the Securities
Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. The operations of the Investor and each Account have been conducted in material compliance with the rules
and regulations administered or conducted by the U.S. Department of Treasury Office of Foreign Assets Control ()"**OFAC** "),
the rules and regulations of the Foreign Corrupt Practices Act ()"**FCPA**") and the Anti-Money Laundering ()"**AML** ")
rules in the Bank Secrecy Act applicable to the Investor and such Account. The Investor has performed due diligence necessary to reasonably
determine that its (or, where applicable, any Account's) beneficial owners are not named on the lists of denied parties or blocked
persons administered by OFAC, resident in or organized under the laws of a country that is the subject of comprehensive economic sanctions
and embargoes administered or conducted by OFAC ()"**Sanctions** "), are not otherwise the subject of Sanctions and have
not been found to be in violation or under suspicion of violating OFAC, FCPA or AML rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;w. The Investor and each Account acknowledges and agrees that the Placement Agent has not acted as a financial
advisor or fiduciary to the Investor or such Account and that the Placement Agent and its respective directors, officers, employees, representatives
and controlling persons ()"**Placement Agent Covered Persons**") have no responsibility for making, and have not made, any
independent investigation of the information contained herein or in the Company's SEC filings and make no representation or warranty
to the Investor or such Account, express or implied, with respect to the Company or the Subscription or the accuracy, completeness or
adequacy of the information provided to the Investor or the Account or any other publicly available information, nor will any of the Placement
Agent Covered Persons be liable for any loss or damages of any kind to the Investor or such Account in connection with such Investor's
or such Account's purchase of Purchased Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;x. The Investor and each Account acknowledges and agrees that no public market exists for the Notes and that
there is no assurance that a public market will ever develop for the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;y. The Investor agrees that the Placement Agent shall not be liable to it (including in contract, tort, under
federal or state securities laws or otherwise) for any action heretofore or hereafter taken or omitted to be taken by it in connection
with the sale of Notes pursuant to this Subscription Agreement. On behalf of the Investor and its affiliates, the Investor releases the
Placement Agent in respect of any losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses or
disbursements related to the sale of Notes pursuant to this Subscription Agreement. The Investor agrees not to commence any litigation
or bring any claim against any of the Placement Agent in any court or any other forum which relates to, may arise out of, or is in connection
with, the sale of Notes pursuant to this Subscription Agreement. This undertaking is given freely and after obtaining independent legal
advice.

&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Conditions to Obligations of the Investor and the Company</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The transfer of ownership of the Cash Purchase Price pursuant to Section 2 hereof and the obligations
of the Investor and the Accounts to complete the purchase of the Notes is subject to the satisfaction at or prior to the Closing of the
following conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. the representations and warranties of the Company contained in <u>Section 4</u> shall be true and correct
as of the Closing in all material respects (other than the representations and warranties that are qualified as to materiality or Material
Adverse Effect, which shall true and correct in all respects) on the date hereof and as of the Closing Date with the same effect as though
such representations and warranties had been made as of the Closing, and the Company shall have performed all applicable covenants and
agreements and satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted
or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date, prevent Closing, and
no injunction or order of any federal, state or foreign court shall have been issued that would, as of the date hereof and the Closing
Date, prevent the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. The Notes sold at the Closing pursuant to this Agreement and the Other Agreements shall be in the aggregate
principal amount of $150,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. The Escrow Agreement shall have been validly entered into as of the date hereof and the Merger Agreement,
the Indenture and the Notes shall have been validly entered into as of the Closing Date by, and be binding upon, all parties thereto (including,
but not limited to, the Company and the Trustee, as applicable) and shall be in full force and effect, and the Investor shall have received
evidence reasonably satisfactory to the Investor to such effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The obligations of the Company to deliver the Notes are subject to the satisfaction at or prior to the
Closing of the following conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. the representations and warranties of the Investor contained in <u>Section 5</u> shall be true and correct
as of the Closing in all material respects (other than the representations and warranties that are qualified as to materiality or Material
Adverse Effect, which shall true and correct in all respects) on the date hereof and as of the Closing Date with the same effect as though
such representations and warranties had been made as of the Closing, and the Investor shall have performed all applicable covenants and
agreements and satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted
or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date, prevent Closing, and
no injunction or order of any federal, state or foreign court shall have been issued that would, as of the Closing Date, prevent the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Covenants and Acknowledgments of the Company</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The Company hereby agrees to, at or prior to 9:00 a.m., New York City time on the first business day after
the date hereof (unless this Agreement is executed and delivered prior to the open of regular trading on Nasdaq on any trading day, in
which case, as soon as possible thereafter prior to the open of trading on such trading day) (the "**Release Time**") file
with the SEC a Current Report on Form 8-K (A) describing the material terms of this Agreement and the Other Agreements, the form of Indenture,
the Merger Agreement, and the forms of Contingent Payment Agreement and Registration Rights Agreement (each as defined in the Merger Agreement)
(collectively, the "**Transaction Documents**") and the transactions contemplated hereby and thereby (collectively, the
" **Transactions** "); (B) disclosing any other material, non-public information (if any) in respect of the Company and its
securities regarding (x) the Transactions, (y) the Company and its subsidiaries, their respective securities, any of their affiliates
or any other person, in each case, provided or made available to the Investor or any of its affiliates, and (z) the Target, in the case
of the Target, only to the extent the Company is then aware of such information (based solely upon the representations and warranties
made by the Company in the Merger Agreement and the schedules and financial information related thereto) and believes such information
is then material non-public information in respect of an investment in the Company and its securities; and (C) filing each of the Transaction
Documents, any investor presentation that the Company proposes to make publicly available in connection with the public announcement of
the Transactions, and the press release(s) (the "**Press Release** "), substantially in the form furnished to the Investor
and its affiliates prior to the date hereof, announcing the execution of this Agreement and the Merger Agreement and the Company's
financial results for the quarter ended June 30, 2025 (such Form 8-K, the "**Announcing Form 8-K** "), in the form last
provided to the Investor on or prior to the date hereof. The Company will, no later than the first
business day following the Closing, file a Current Report on Form 8-K publicly disclosing the closing of the Subscription as
contemplated by this Subscription Agreement. The Company acknowledges and agrees that, following the Release Time, the Subscribers
and their Affiliates shall not have any duty of trust or confidence (including any obligation under any confidentiality, wall cross or
non-disclosure agreement entered into prior to the Release Time between the Investor and any Account, on the one hand, and the Company
(or any person acting on behalf of the Company), on the other hand) or contractual obligation not to trade in the Common Stock or any
other securities of the Company. The Company understands and acknowledges that the Subscribers and their Affiliates and persons acting
on their behalf will rely on the representations, warranties, covenants, provisions and agreements set forth in this Section 7(a) in effecting
transactions in the securities of the Company and of other persons. Without the prior written consent of the Investor, the Company shall
not disclose the name of the Investor or any Account in any public filing or announcement, unless such disclosure is required by applicable
law, rule, regulation or legal process (in which case the Company shall, to the extent permitted by law, provide the Investor with notice
of such disclosure a reasonable period of time in advance of such disclosure so that the Investor may seek protective measures, if desired).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The Company and its subsidiaries shall not, and shall cause each of their employees, officers, directors
(or equivalent persons), affiliates, attorneys, agents and representatives to not, provide any Investor or any of its affiliates, attorneys,
agents or representatives with any material non-public information without the express prior written consent of the Investor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Other than the press release and Current Report on Form 8-K containing solely the information contemplated
by Section 7(a) and disclosing the Merger Agreement and the transactions related thereto, the Company agrees that it will not release
any press releases or make any public filing with the SEC or otherwise during the period between the date hereof and the Closing, except
with respect to events arising after the date hereof to the extent required by applicable law, rule, regulation or legal process.

&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Covenant of the Investor</u>. On the date hereof, the Investor agrees to deliver settlement instructions
for each Subscriber to the Company substantially in the form of <u>Exhibit C</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Waiver, Amendment</u>. Neither this Agreement nor any provisions hereof shall be modified, changed,
discharged or terminated except by an instrument in writing, signed by the party against whom any waiver, change, discharge or termination
is sought.

&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Assignability</u>. Neither this Agreement nor any right, remedy, obligation or liability arising hereunder
or by reason hereof shall be assignable by the Company or the Investor without the prior written consent of the other party, except that
the Investor may, without the consent of the Company, assign its rights hereunder to any Related Fund (as defined below) of the Investor
and/or to any assignee or transferee of the Securities; provided, that no such assignment shall relieve the Investor of its obligations
hereunder. "**Related Fund**" of the Investor means any investment fund or managed account that is managed on a discretionary
basis by the same investment manager as the Investor.

&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Waiver of Jury Trial</u>. EACH OF THE COMPANY AND THE INVESTOR (FOR ITSELF AND, IF APPLICABLE, ON BEHALF
OF EACH ACCOUNT) IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF THE TRANSACTIONS
CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT.

&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Governing Law</u>. THIS AGREEMENT AND ALL MATTERS ARISING HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION
OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK.

&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Submission to Jurisdiction</u>. Each of the Company and the Investor (for itself and, if applicable,
on behalf of each Account) (a) agrees that any legal suit, action or proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby shall be instituted exclusively in the courts of the State of New York located in the City and County
of New York or in the United States District Court for the Southern District of New York; (b) waives any objection that it may now
or hereafter have to the venue of any such suit, action or proceeding; and (c) irrevocably consents to the jurisdiction of the aforesaid
courts in any such suit, action or proceeding. Each of the Company and the Investor (for itself and, if applicable, on behalf of each
Account) agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by law.

&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Venue</u>. Each of the Company and the Investor (for itself and, if applicable, on behalf of each Account)
irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or
hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or the transactions
contemplated hereby in any court referred to in <u>Section 13</u>. Each of the Company and the Investor (for itself and, if applicable,
on behalf of each Account) irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance
of such action or proceeding in any such court.

&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Service of Process</u>. Each of the Company and the Investor (for itself and, if applicable, on behalf
of each Account) irrevocably consents to service of process in the manner provided for notices in <u>Section 18</u>. Nothing in this
Subscription Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Section and Other Headings</u>. The section and other headings contained in this Subscription Agreement
are for reference purposes only and shall not affect the meaning or interpretation of this Subscription Agreement. The language used in
this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction
will be applied against any party. Unless the context otherwise requires, (a) all references to Sections or Exhibits are to Sections or
Exhibits contained in or attached to this Agreement, (b) words in the singular or plural include the singular and plural, and pronouns
stated in either the masculine, the feminine or neuter gender shall include the masculine, feminine and neuter, (c) the use of the word
"include," "includes" and "including" in this Agreement shall be by way of example rather than limitation,
and (d) the word "or" is not exclusive (i.e., "or" shall mean "and/or").

&nbsp;&nbsp;&nbsp;&nbsp;17. <u>Counterparts</u>. This Agreement may be executed,
either manually or by way of a digital signature provided by DocuSign (or similar digital signature provider), by one or more of the parties
hereto in any number of separate counterparts (including by facsimile or other electronic means, including telecopy, email or otherwise),
and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature
page of this Subscription Agreement (whether executed manually or by way of a digital signature as described herein this <u>Section 17</u>)
by facsimile or other transmission (*e.g.*, "pdf" or "tif" format) shall be effective as delivery of a manually
executed counterpart hereof.

&nbsp;&nbsp;&nbsp;&nbsp;18. <u>Notices</u>. All notices and other communications to the Company provided for herein shall be in writing
and shall be deemed to have been duly given if delivered personally or sent by registered or certified mail, return receipt requested,
postage prepaid to the following addresses or pursuant to the following email addresses, or, in the case of the Investor or any Account,
the address provided in <u>Exhibit C</u> (or such other address as either party shall have specified by notice in writing to the other):

---

| | |
|:---|:---|
| If to the Company: | CorMedix Inc.<br> 300 Connell Drive, Suite 4200<br> Berkeley Heights, New Jersey 07922<br> Attention: Beth Zelnick Kaufman<br> Tel: 973-699-724<br> Email: [\*\*\*]<br>with a copy (which shall not constitute notice) to:<br>Willkie Farr & Gallagher LLP<br> 787 Seventh Avenue<br> New York, NY 10019-6099<br> Attention: Sean Ewen<br> Email: sewen@willkie.com |

---

&nbsp;&nbsp;&nbsp;&nbsp;19. <u>Binding Effect</u>. The provisions of this Subscription Agreement shall be binding upon and accrue
to the benefit of the parties hereto and their respective heirs, legal representatives, successors and permitted assigns.

&nbsp;&nbsp;&nbsp;&nbsp;20. <u>Notification of Changes</u>. The Investor (for itself and, if applicable, on behalf of each Account)
hereby covenants and agrees to notify the Company upon the occurrence of any event prior to the Closing that would cause any representation,
warranty, or covenant of the Investor (and/or such Account) contained in this Agreement to be false or incorrect in any material respect.

&nbsp;&nbsp;&nbsp;&nbsp;21. <u>Reliance by Placement Agent</u>. The Placement Agent may rely on each representation and warranty of
the Company and the Investor made herein or pursuant to the terms hereof (including, without limitation, in any officer's certificate
delivered pursuant to the terms hereof) with the same force and effect as if such representation or warranty were made directly to the
Placement Agent. The Placement Agent shall be a third-party beneficiary to this Subscription Agreement to the extent provided in this <u>Section 21</u>.

&nbsp;&nbsp;&nbsp;&nbsp;22. <u>Severability</u>. If any term or provision (in whole or in part) of this Subscription Agreement is
invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term
or provision of this Subscription Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;23. <u>Survival</u>. The representations, warranties, covenants and agreements of the parties shall survive
the Closing and delivery of the Purchased Notes.

&nbsp;&nbsp;&nbsp;&nbsp;24. <u>Equal Treatment</u>. The Company agrees that the terms and conditions of this Agreement shall be no
less favorable than the most favorable terms on which the Company is selling Notes to any investor, taking into account all consideration
given, directly or indirectly, to such investor and the terms of any side letter or other agreement or arrangement (excluding the Merger
Agreement) in connection with such investors' subscription for Notes. No consideration shall be offered or paid to any person to
amend, waive or modify any provision of any Other Agreement unless such consideration is simultaneously offered to each Subscriber.

&nbsp;&nbsp;&nbsp;&nbsp;25. <u>Termination</u>. In the event that the Closing shall not have occurred with respect to the Investor
on or before August 15, 2025 due to the Company's or the Investor's failure to satisfy any of the conditions required to be
satisfied by it in Section 6 (and the nonbreaching party's failure to waive such unsatisfied condition(s)), the nonbreaching party
may terminate this Agreement by written notice to the breaching party. This Agreement may be terminated in the absolute discretion of
the Investor and as to the Investor on an individual basis, by notice to the Company, if after the execution and delivery of this Agreement
and on or prior to the Closing Date (a) trading generally shall have been suspended or materially limited on the Nasdaq, (b) trading of
any securities issued by the Company shall have been suspended on any exchange or in any over-the-counter market, or (c) a general moratorium
on commercial banking activities shall have been declared by federal or New York State authorities, or (d) the Merger Agreement has not
been executed prior to, and publicly announced concurrently with, the announcement of the Subscription in the Announcing Form 8-K at the
Release Time.

&nbsp;&nbsp;&nbsp;&nbsp;26. <u>Nature of Obligations and Rights of the Investor.</u> The Company acknowledges and agrees that the
Investor has not been asked to agree, and the Investor has not agreed, to desist from purchasing or selling, long and/or short, Common
Stock or other securities of the Company, or "derivative" securities or based on Common Stock or other securities issued by
the Company or to hold the Notes for any specified term; and the Investor shall not be deemed to have any affiliation with or control
over any arm's length counterparty in any "derivative" transaction. The Company further acknowledges and agrees that
(a) the Investor may engage in hedging and/or trading activities at various times during the period that the Notes are outstanding, including
the period during which the conversion rate of the Notes will be determined, (b) such hedging and/or trading activities, if any, can affect
the conversion price of the Notes and reduce the value of the shares of Common Stock or other securities held by the existing holders
of shares of Common Stock or other securities of the Company, both at and after the time the hedging and/or trading activities are being
conducted, (c) any such hedging and/or trading activities shall not constitute a breach of any Transaction Document or affect any of the
rights of the Investor under any Transaction Document, and (d) the obligations under the Indenture are unconditional and absolute and
not subject to any right of set off, counterclaim, delay or reduction, regardless of the effect of any such dilution or any claim the
Company or any of its subsidiaries may have against the Investor and regardless of the dilutive effect that such issuance may have on
the ownership of the other stockholders of the Company <u>.</u> 

[*Signature Pages Follow*]

IN WITNESS WHEREOF, the Investor (for itself and, if applicable, on behalf of each Account) has executed this Subscription Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Legal Name of Executing Investor:** | **Legal Name of Executing Investor:** |
| By | |
|  | Name: |
|  | Title: |
|  | Legal Name: |

---

[*Signature Page to Subscription Agreement*]

---

| | | |
|:---|:---|:---|
| **ACCEPTED AND AGREED:** | **ACCEPTED AND AGREED:** | **ACCEPTED AND AGREED:** |
|  | **CORMEDIX INC.** | **CORMEDIX INC.** |
|  | By | |
|  |  | Name: |
|  |  | Title: |

---

[*Signature Page to Subscription Agreement*]

**EXHIBIT A: SUBSCRIPTION FOR NOTES**

Participating Accounts, Allocation of Aggregate Principal Amount of Purchased Notes and Cash Purchase Price:

---

| | | |
|:---|:---|:---|
| **Name of Subscriber** | **Purchased<br> Notes** | **Cash<br> Purchase Price** |
|  | $| $|
| Total: | $| $|

---

**EXHIBIT B**

<u>NOTICE OF SUBSCRIPTION PROCEDURES</u>

Attached are Subscription Procedures for the settlement of the subscription for the 4.00% Convertible Senior Notes due 2030 (the "**Notes**") of CorMedix Inc. (the "**Company**") pursuant to the Subscription Agreement, dated as of August 6, 2025, between you and the Company (the "**Agreement**") which is expected to occur on or about August 12, 2025. To ensure timely settlement, please follow the instructions for subscribing for Notes as set forth on the following page. Capitalized terms used but not defined have the meaning given to such terms in the Agreement.

***These instructions supersede any prior instructions you received. Your failure to comply with the attached instructions may delay your receipt of the Notes.***

If you have any questions, please contact Sean Ewen at sewen@willkie.com.

Thank you.

**<u>To receive Notes</u>**

You must **BOTH**:

&nbsp;&nbsp;&nbsp;&nbsp;1. Direct
 your eligible DTC participant through which you wish to hold a beneficial interest in the
 Notes to post and accept on August 12, 2025, **no later than 9:00 a.m., New York City time**,
 a one-sided deposit instruction through DTC via DWAC for the aggregate principal amount of
 Notes (CUSIP/ISIN #: 218939 AA4 /US218939AA44) set forth in column 2 of <u>Exhibit A</u> of the Agreement.

**It is important that this instruction be submitted and the DWAC posted on August 12, 2025, no later than 9:00 a.m., New York City time.**

**AND**

&nbsp;&nbsp;&nbsp;&nbsp;2. **On August 6, 2025,** you must pay the Cash Purchase Price set forth in column 3 of <u>Exhibit A</u> <sup>1</sup> ()"**Cash Purchase Price**") of the Subscription Agreement
 by wire transfer<sup>2</sup> in immediately available funds to the following Escrow Account:

[*insert bank account details and callback information*]

You must complete both steps described above in order to complete the subscription for the Notes.

<sup>1</sup> The Cash Purchase Price is the amount of cash that you must wire to the Escrow Account in connection with your purchase of Notes.

<sup>2</sup> Company to provide wire instructions.

**SETTLEMENT**

On August 12, 2025, after the Company receives your Cash Purchase Price and your delivery instructions as set forth above, and subject to the satisfaction of the conditions to closing as set forth in your Subscription Agreement, the Company will deliver your Notes in accordance with the delivery instructions set forth above.

**EXHIBIT C**

**<br> Subscriber Settlement Details**

**<u>These settlement instructions are to be delivered to the Company for each Subscriber no later than one (1) business day after the date of the Subscription Agreement.</u>**

Name of Subscriber: __________________________________

Subscriber Address:

__________________________________________________

__________________________________________________

__________________________________________________

Telephone: _________________________________________

Email Address: ______________________________________

Country of Residence:<u> </u>________________________________

Taxpayer Identification Number: _________________________

<u>DTC Participant Information for Delivery of Purchased Notes</u>

DTC Participant Number:________________________________________________________________

DTC Participant Name:__________________________________________________________________

DTC Participant Phone Number: _________________________________________________________

DTC Participant Contact Email: __________________________________________________________

FFC Account #:________________________________________________________________________

Account # at Bank/Broker:_______________________________________________________________

**Exhibit D**

**Form of Indenture**

**Exhibit E**

**Form of Escrow Agreement**