Document:

Exhibit 10.1

 

INDEMNITY AGREEMENT

 

THIS INDEMNITY AGREEMENT (this
 “Agreement”) is made as of September 14, 2018, by and between EASTERLY ACQUISITION CORP., a Delaware
corporation (the “Company”), and Daniel Shea (“Indemnitee”).

 

RECITALS

 

WHEREAS, highly competent persons
have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities unless they are provided
with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them
arising out of their service to and activities on behalf of such corporations;

 

WHEREAS, the Board of Directors of
the Company (the “Board”) has determined that, in order to attract and retain qualified individuals,
the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the
Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread
practice among publicly traded corporations and other business enterprises, the Company believes that, given current market conditions
and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time,
directors, officers and other persons in service to corporations or business enterprises are being increasingly subjected to expensive
and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against
the Company or business enterprise itself. The Amended and Restated Certificate of Incorporation, as amended (the “Charter”),
and Bylaws of the Company (“Bylaws”) require indemnification of the officers and directors of the Company.
Indemnitee may also be entitled to indemnification pursuant to applicable provisions of the Delaware General Corporation Law (“DGCL”).
The Charter, Bylaws and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and
thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and
other persons with respect to indemnification, hold harmless, exoneration, advancement and reimbursement rights;

 

WHEREAS, the uncertainties relating
to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 

WHEREAS, the Board has determined
that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company’s
stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in
the future;

 

WHEREAS, it is reasonable, prudent
and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and to advance expenses on
behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company
free from undue concern that they will not be so protected against liabilities;

 

WHEREAS, this Agreement is a supplement
to and in furtherance of the Charter and Bylaws of the Company and any resolutions adopted pursuant thereto, and shall not be deemed
a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

WHEREAS, Indemnitee may not be willing
to serve as an officer or director, advisor or in another capacity without adequate protection, and the Company desires Indemnitee
to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf
of the Company on the condition that he be so indemnified; and

 

     

     

    

 

NOW, THEREFORE, in consideration
of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

TERMS AND CONDITIONS

 

1.           SERVICES
TO THE COMPANY. Indemnitee will serve or continue to serve as an officer, director, advisor, key employee or in any other capacity
of the Company, as applicable, for so long as Indemnitee is duly elected, appointed or retained or until Indemnitee tenders his
resignation.

 

2.           DEFINITIONS.
As used in this Agreement:

 

2.1.          References
to “agent” shall mean any person who is or was a director, officer or employee of the Company or a subsidiary
of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity
as a director, officer, employee, advisor, fiduciary or other official of another corporation, partnership, limited liability company,
joint venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests of the Company
or a subsidiary of the Company.

 

2.2.          The
terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings
set forth in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

 

2.3.          A
 “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement
of any of the following events:

 

2.3.1.        Acquisition
of Stock by Third Party. Other than an affiliate of Easterly LLC, any Person (as defined below) is or becomes the Beneficial
Owner, directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power
of the Company’s then outstanding securities entitled to vote generally in the election of directors, unless (1) the
change in the relative Beneficial Ownership of the Company’s securities by any Person results solely from a reduction in
the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors, or (2) such
acquisition was approved in advance by the Continuing Directors (as defined below) and such acquisition would not constitute a
Change in Control under part 2.3.3 of this definition; 

 

2.3.2.        Change
in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose election by
the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two thirds of the directors
then still in office who were directors on the date hereof or whose election for nomination for election was previously so approved
(collectively, the “Continuing Directors”), cease for any reason to constitute at least a majority of
the members of the Board;

 

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2.3.3.        Corporate
Transactions. The effective date of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or
similar business combination, involving the Company and one or more businesses (a “Business Combination”),
in each case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who
were the Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 51% of the combined voting power of the then outstanding securities
of the Company entitled to vote generally in the election of directors resulting from such Business Combination (including, without
limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s
assets either directly or through one or more Subsidiaries) in substantially the same proportions as their ownership immediately
prior to such Business Combination, of the securities entitled to vote generally in the election of directors; (2) other than
an affiliate of Easterly Capital, LLC, no Person (excluding any corporation resulting from such Business Combination) is the Beneficial
Owner, directly or indirectly, of 15% or more of the combined voting power of the then outstanding securities entitled to vote
generally in the election of directors of the surviving corporation except to the extent that such ownership existed prior to the
Business Combination; and (3) at least a majority of the Board of Directors of the corporation resulting from such Business
Combination were Continuing Directors at the time of the execution of the initial agreement, or of the action of the Board of Directors,
providing for such Business Combination;

  

2.3.4.        Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement or series of agreements
for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring the
Company’s current receivables or escrows due (or, if such approval is not required, the decision by the Board to proceed
with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

2.3.5.        Other
Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A
of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as
defined below), whether or not the Company is then subject to such reporting requirement.

 

2.4.          “Corporate
Status” describes the status of a person who is or was a director, officer, trustee, general partner, managing member,
fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such person is or was serving at
the request of the Company.

 

2.5.          “Delaware
Court” shall mean the Court of Chancery of the State of Delaware.

 

2.6.          “Disinterested
Director” shall mean a director of the Company who is not and was not a party to the Proceeding (as defined below)
in respect of which indemnification is sought by Indemnitee.

 

2.7.          “Enterprise”
shall mean the Company and any other corporation, constituent corporation (including any constituent of a constituent) absorbed
in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party, limited liability company,
partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request
of the Company as a director, officer, trustee, general partner, managing member, fiduciary, employee or agent.

 

2.8.          “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

2.9.          “Expenses”
shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever, including, without limitation,
all attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses,
fees of private investigators and professional advisors, duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees, fax transmission charges, secretarial services and all other disbursements, obligations or expenses in connection
with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, settlement
or appeal of, or otherwise participating in, a Proceeding (as defined below), including reasonable compensation for time spent
by the Indemnitee for which he or she is not otherwise compensated by the Company or any third party. Expenses also shall include
Expenses incurred in connection with any appeal resulting from any Proceeding (as defined below), including without limitation
the principal, premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its
equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against
Indemnitee.

 

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2.10.         “Independent
Counsel” shall mean a law firm or a member of a law firm with significant experience in matters of corporation law
and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any
matter material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of
other indemnitees under similar indemnification agreements); or (ii) any other party to the Proceeding (as defined below)
giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel”
shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict
of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

2.11.         References
to “fines” shall include any excise tax assessed on Indemnitee with respect to any employee benefit plan;
references to “serving at the request of the Company” shall include any service as a director, officer, employee, agent
or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary
with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan, Indemnitee
shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this
Agreement.

 

2.12.         The
term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as
in effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any Subsidiaries
(as defined below) of the Company; (iii) any employment benefit plan of the Company or of a Subsidiary (as defined below)
of the Company or of any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same
proportions as their ownership of stock of the Company; and (iv) any trustee or other fiduciary holding securities under an
employee benefit plan of the Company or of a Subsidiary (as defined below) of the Company or of a corporation owned directly or
indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

 

2.13.         The
term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed
proceeding, whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional
tort claims), criminal, administrative, or investigative or related nature, in which Indemnitee was, is, will or might be involved
as a party or otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any
action (or failure to act) taken by him or of any action (or failure to act) on his part while acting as a director or officer
of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director, officer, trustee,
general partner, managing member, fiduciary, employee or agent of any other Enterprise, in each case whether or not serving in
such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses
can be provided under this Agreement.

  

2.14.         The
term “Subsidiary,” with respect to any Person, shall mean any corporation or other entity of which a
majority of the voting power of the voting equity securities or equity interest is owned, directly or indirectly, by that Person.

 

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3.           INDEMNITY
IN THIRD-PARTY PROCEEDINGS.

 

To the fullest extent permitted by applicable
law, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 3 if
Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness or otherwise) in any Proceeding, other
than a Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3,
Indemnitee shall be indemnified, held harmless and exonerated against all Expenses, judgments, liabilities, fines, penalties and
amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect
of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee or
on his behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in
a manner he reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding,
had no reasonable cause to believe that his conduct was unlawful.

 

4.           INDEMNITY
IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY.

 

To the fullest extent permitted by applicable
law, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 4 if
Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness or otherwise) in any Proceeding by or
in the right of the Company to procure a judgment in its favor. Pursuant to this Section 4, Indemnitee shall be
indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by him or on his behalf in connection
with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed
to be in or not opposed to the best interests of the Company. No indemnification, hold harmless or exoneration for Expenses shall
be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been
finally adjudged by a court to be liable to the Company, unless and only to the extent that any court in which the Proceeding was
brought or the Delaware Court shall determine upon application that, despite the adjudication of liability but in view of all the
circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification, to be held harmless or to exoneration.

  

5.           INDEMNIFICATION
FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL.

 

Notwithstanding any other provisions of
this Agreement except for Section 27, to the extent that Indemnitee is a party to (or a participant in) and is successful,
on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company
shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses
actually and reasonably incurred by him in connection therewith. If Indemnitee is not wholly successful in such Proceeding but
is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the
Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all
Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue or
matter. If the Indemnitee is not wholly successful in such Proceeding, the Company also shall, to the fullest extent permitted
by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably incurred in connection with
a claim, issue or matter related to any claim, issue, or matter on which the Indemnitee was successful. For purposes of this Section
5 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without
prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

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6.           INDEMNIFICATION
FOR EXPENSES OF A WITNESS.

 

Notwithstanding any other provision of this
Agreement except for Section 27, to the extent that Indemnitee is, by reason of his Corporate Status, a witness in any Proceeding
to which Indemnitee is not a party, he shall, to the fullest extent permitted by applicable law, be indemnified, held harmless
and exonerated against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith.

 

7.           ADDITIONAL
INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS.

 

7.1           Notwithstanding
any limitation in Sections 3, 4, or 5, except for Section 27, the Company shall,
to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to
or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment
in its favor) against all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest, assessments
and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid
in settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding. No indemnification, hold harmless
or exoneration rights shall be available under this Section 7.1 on account of Indemnitee’s conduct which
constitutes a breach of Indemnitee’s duty of loyalty to the Company or its stockholders or is an act or omission not in good
faith or which involves intentional misconduct or a knowing violation of the law.

 

7.2           Notwithstanding
any limitation in Sections 3, 4, 5 or 7.1, except for Section 27,
the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee if Indemnitee
is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure
a judgment in its favor) against all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest,
assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and
amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding.

  

8.           CONTRIBUTION
IN THE EVENT OF JOINT LIABILITY.

 

8.1.          To
the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for
in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying,
holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether
for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with
any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right
of contribution it may have at any time against Indemnitee.

 

8.2.          The
Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

8.3.          The
Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be
brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

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9.           EXCLUSIONS.

 

Notwithstanding any provision in this Agreement
except for Section 27, the Company shall not be obligated under this Agreement to make any indemnification, hold harmless
or exoneration payment in connection with any claim made against Indemnitee:

 

(a)          for
which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity provision,
except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement, other indemnity
provision or otherwise;

 

(b)          for
an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within
the meaning of Section 16(b) of the Exchange Act or similar provisions of state statutory law or common law; or

 

(c)          except
as otherwise provided in Sections 14.5 and 14.6 hereof, prior to a Change in Control, in
connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of
any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless
(i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides
the indemnification, hold harmless or exoneration payment, in its sole discretion, pursuant to the powers vested in the Company
under applicable law.

 

10.         ADVANCES
OF EXPENSES; DEFENSE OF CLAIM.

 

10.1.          Notwithstanding
any provision of this Agreement to the contrary except for Section 27, and to the fullest extent not prohibited by applicable
law, the Company shall pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be incurred by Indemnitee
within three months) in connection with any Proceeding within ten (10) days after the receipt by the Company of a statement
or statements requesting such advances from time to time, prior to the final disposition of any Proceeding. Advances shall be unsecured
and interest free. Advances shall be made without regard to Indemnitee’s ability to repay the Expenses and without regard
to Indemnitee’s ultimate entitlement to be indemnified, held harmless or exonerated under the other provisions of this Agreement.
Advances shall include any and all reasonable Expenses incurred pursuing a Proceeding to enforce this right of advancement, including
Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. To the fullest extent required
by applicable law, such payments of Expenses in advance of the final disposition of the Proceeding shall be made only upon the
Company’s receipt of an undertaking, by or on behalf of the Indemnitee, to repay the advance to the extent that it is ultimately
determined that Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement, the Charter,
the Bylaws of the Company, applicable law or otherwise. This Section 10.1 shall not apply to any claim made by
Indemnitee for which an indemnification, hold harmless or exoneration payment is excluded pursuant to Section 9.

 

10.2.          The
Company will be entitled to participate in the Proceeding at its own expense.

 

10.3.          The
Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine,
penalty or limitation on the Indemnitee without the Indemnitee’s prior written consent.

 

11.         PROCEDURE
FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

 

11.1.          Indemnitee
agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment,
information or other document relating to any Proceeding or matter which may be subject to indemnification, hold harmless or exoneration
rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not relieve the
Company of any obligation which it may have to the Indemnitee under this Agreement, or otherwise.

 

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11.2.          Indemnitee
may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with this Agreement.
Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or her sole discretion.
Following such a written application for indemnification by Indemnitee, the Indemnitee’s entitlement to indemnification shall
be determined according to Section 12.1 of this Agreement.

 

12.         PROCEDURE
UPON APPLICATION FOR INDEMNIFICATION.

 

12.1.          A
determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made in
the specific case by one of the following methods, which shall be at the election of Indemnitee: (i) by a majority vote of
the Disinterested Directors, even though less than a quorum of the Board (ii) by Independent Counsel in a written opinion
to the Board, a copy of which shall be delivered to Indemnitee; or (iii) by vote of the stockholders. The Company promptly will
advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including
a description of any reason or basis for which indemnification has been denied. If it is so determined that Indemnitee is entitled
to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall reasonably
cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification,
including providing to such person, persons or entity upon reasonable advance request any documentation or information which is
not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary
to such determination. Any costs or Expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating
with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as
to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless
therefrom.

 

12.2.          In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section
12.1 hereof, the Independent Counsel shall be selected as provided in this Section 12.2. The Independent Counsel
shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board), and Indemnitee shall
give written notice to the Company advising it of the identity of the Independent Counsel so selected and certifying that the Independent
Counsel so selected meets the requirements of “Independent Counsel” as defined in Section 2 of
this Agreement. If the Independent Counsel is selected by the Board, the Company shall give written notice to Indemnitee advising
him of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets the requirements
of “Independent Counsel” as defined in Section 2 of this Agreement. In either event, Indemnitee
or the Company, as the case may be, may, within ten (10) days after such written notice of selection shall have been received,
deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such
objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with particularity
the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel.
If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel
unless and until such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without
merit. If, within twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section
11.2 hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may
petition the Delaware Court for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s
selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the Delaware Court,
and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel
under Section 12.1 hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section
14.1 of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity
(subject to the applicable standards of professional conduct then prevailing).

  

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12.3.          The
Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such Independent
Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement
pursuant hereto.

 

13.         PRESUMPTIONS
AND EFFECT OF CERTAIN PROCEEDINGS.

 

13.1.          In
making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification
in accordance with Section 11.2 of this Agreement, and the Company shall have the burden of proof to overcome
that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption.
Neither the failure of the Company (including by its directors or Independent Counsel) to have made a determination prior to the
commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has
met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or Independent Counsel)
that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that
Indemnitee has not met the applicable standard of conduct.

 

13.2.          If
the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether
Indemnitee is entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the
Company of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made
and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an
omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request
for indemnification, or (ii) a final judicial determination that any or all such indemnification is expressly prohibited under
applicable law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional fifteen
(15) days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good
faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto.

 

13.3.          The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a
plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner
which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding,
that Indemnitee had reasonable cause to believe that his conduct was unlawful.

  

    	 	9	 

     

    

 

13.4.          For
purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action
is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee
by the directors or officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise,
its Board, any committee of the Board or any director, or on information or records given or reports made to the Enterprise, its
Board, any committee of the Board or any director, by an independent certified public accountant or by an appraiser or other expert
selected by the Enterprise, its Board, any committee of the Board or any director. The provisions of this Section 13.4 shall
not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed or found to
have met the applicable standard of conduct set forth in this Agreement.

 

13.5.          The
knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, managing member, fiduciary, agent
or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under
this Agreement.

 

14.         REMEDIES
OF INDEMNITEE.

 

14.1.          In
the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee
is not entitled to indemnification under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by
applicable law, is not timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement
to indemnification shall have been made pursuant to Section 12.1 of this Agreement within thirty (30) days
after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Sections 5, 6, 7 or
the last sentence of Section 12.1 of this Agreement within ten (10) days after receipt by the Company of
a written request therefor, (v) a contribution payment is not made in a timely manner pursuant to Section 8 of
this Agreement, (vi) payment of indemnification pursuant to Section 3 or 4 of this Agreement
is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification, or (vii) payment
to Indemnitee pursuant to any hold harmless or exoneration rights under this Agreement or otherwise is not made within ten (10) days
after receipt by the Company of a written request therefor, Indemnitee shall be entitled to an adjudication by the Delaware Court
to such indemnification, hold harmless, exoneration, contribution or advancement rights. Alternatively, Indemnitee, at his option,
may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American
Arbitration Association. Except as set forth herein, the provisions of Delaware law (without regard to its conflict of laws rules)
shall apply to any such arbitration. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award
in arbitration.

 

14.2.          In
the event that a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee
is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall
be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason
of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 14,
Indemnitee shall be presumed to be entitled to be indemnified, held harmless, exonerated to receive advances of Expenses under
this Agreement and the Company shall have the burden of proving Indemnitee is not entitled to be indemnified, held harmless, exonerated
and to receive advances of Expenses, as the case may be, and the Company may not refer to or introduce into evidence any determination
pursuant to Section 12.1 of this Agreement adverse to Indemnitee for any purpose. If Indemnitee commences a judicial
proceeding or arbitration pursuant to this Section 14, Indemnitee shall not be required to reimburse the Company
for any advances pursuant to Section 10 until a final determination is made with respect to Indemnitee’s
entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed).

 

14.3.          If
a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is entitled to
indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant
to this Section 14, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material
fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification,
or (ii) a prohibition of such indemnification under applicable law.

 

    	 	10	 

     

    

 

14.4.          The
Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14 that
the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court
or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

14.5.          The
Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses and, if requested
by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written request) pay to Indemnitee, to
the fullest extent permitted by applicable law, such Expenses which are incurred by Indemnitee in connection with any judicial
proceeding or arbitration brought by Indemnitee (i) to enforce his rights under, or to recover damages for breach of, this
Agreement or any other indemnification, hold harmless, exoneration, advancement or contribution agreement or provision of the Charter,
or the Company’s Bylaws now or hereafter in effect; or (ii) for recovery or advances under any insurance policy maintained
by any person for the benefit of Indemnitee, regardless of the outcome and whether Indemnitee ultimately is determined to be entitled
to such indemnification, hold harmless or exoneration right, advancement, contribution or insurance recovery, as the case may be
(unless such judicial proceeding or arbitration was not brought by Indemnitee in good faith).

 

14.6.          Interest
shall be paid by the Company to Indemnitee at the legal rate under Delaware law for amounts which the Company indemnifies, holds
harmless or exonerates, or is obliged to indemnify, hold harmless or exonerate for the period commencing with the date on which
Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement or advancement of any Expenses
and ending with the date on which such payment is made to Indemnitee by the Company.

 

15.         SECURITY.

 

Notwithstanding anything herein to the contrary
except for Section 27, to the extent requested by the Indemnitee and approved by the Board, the Company may at any time
and from time to time provide security to the Indemnitee for the Company’s obligations hereunder through an irrevocable bank
line of credit, funded trust or other collateral. Any such security, once provided to the Indemnitee, may not be revoked or released
without the prior written consent of the Indemnitee.

 

16.         NON-EXCLUSIVITY;
SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION.

 

16.1.          The
rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at
any time be entitled under applicable law, the Charter, the Company’s Bylaws, any agreement, a vote of stockholders or a
resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit
or restrict any right of Indemnitee under this Agreement in respect of any Proceeding (regardless of when such Proceeding is first
threatened, commenced or completed) arising out of, or related to, any action taken or omitted by such Indemnitee in his Corporate
Status prior to such amendment, alteration or repeal. To the extent that a change in applicable law, whether by statute or judicial
decision, permits greater indemnification, hold harmless or exoneration rights or advancement of Expenses than would be afforded
currently under the Charter, the Company’s Bylaws or this Agreement, then this Agreement (without any further action by the
parties hereto) shall automatically be deemed to be amended to require that the Company indemnify Indemnitee to the fullest extent
permitted by law. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other
right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing
at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent
the concurrent assertion or employment of any other right or remedy.

 

    	 	11	 

     

    

 

16.2.          The
DGCL, the Charter and the Company’s Bylaws permit the Company to purchase and maintain insurance or furnish similar protection
or make other arrangements including, but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification
Arrangements”) on behalf of Indemnitee against any liability asserted against him or incurred by or on behalf of
him or in such capacity as a director, officer, employee or agent of the Company, or arising out of his status as such, whether
or not the Company would have the power to indemnify him against such liability under the provisions of this Agreement or under
the DGCL, as it may then be in effect. The purchase, establishment, and maintenance of any such Indemnification Arrangement shall
not in any way limit or affect the rights and obligations of the Company or of the Indemnitee under this Agreement except as expressly
provided herein, and the execution and delivery of this Agreement by the Company and the Indemnitee shall not in any way limit
or affect the rights and obligations of the Company or the other party or parties thereto under any such Indemnification Arrangement.

  

16.3.          To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, trustees,
partners, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which such person serves
at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to
the maximum extent of the coverage available for any such director, officer, trustee, partner, managing member, fiduciary, employee
or agent under such policy or policies. If, at the time the Company receives notice from any source of a Proceeding as to which
Indemnitee is a party or a participant (as a witness or otherwise), the Company has director and officer liability insurance in
effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in
the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on
behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

 

16.4.          In
the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

16.5.          The
Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was serving
at the request of the Company as a director, officer, trustee, partner, managing member, fiduciary, employee or agent of any other
Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration payments
or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the contrary except for
Section 27, (i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification,
hold harmless, exoneration, advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee
prior to the Company’s satisfaction and performance of all its obligations under this Agreement, and (ii) the Company
shall perform fully its obligations under this Agreement without regard to whether Indemnitee holds, may pursue or has pursued
any indemnification, advancement, hold harmless, exoneration, contribution or insurance coverage rights against any person or entity
other than the Company.

 

    	 	12	 

     

    

 

17.         DURATION
OF AGREEMENT.

 

All agreements and obligations of the Company
contained herein shall continue during the period Indemnitee serves as a director or officer of the Company or as a director, officer,
trustee, partner, managing member, fiduciary, employee or agent of any other corporation, partnership, joint venture, trust, employee
benefit plan or other Enterprise which Indemnitee serves at the request of the Company and shall continue thereafter so long as
Indemnitee shall be subject to any possible Proceeding (including any rights of appeal thereto and any Proceeding commenced by
Indemnitee pursuant to Section 14 of this Agreement) by reason of his Corporate Status, whether or not he
is acting in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under
this Agreement.

 

18.         SEVERABILITY.

 

If any provision or provisions of this Agreement
shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability
of the remaining provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence
of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal
or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted
by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and
to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of
this Agreement (including, without limitation, each portion of any Section, paragraph or sentence of this Agreement containing
any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be
construed so as to give effect to the intent manifested thereby.

  

19.         ENFORCEMENT
AND BINDING EFFECT.

 

19.1.          The
Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges that
Indemnitee is relying upon this Agreement in serving as a director, officer or key employee of the Company.

 

19.2.          Without
limiting any of the rights of Indemnitee under the Charter or Bylaws of the Company as they may be amended from time to time, this
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof.

 

19.3.          The
indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement
shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct
or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of
the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or
of any other Enterprise at the Company’s request, and shall inure to the benefit of Indemnitee and his or her spouse, assigns,
heirs, devisees, executors and administrators and other legal representatives.

 

19.4.          The
Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all,
substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance
satisfactory to the Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent
that the Company would be required to perform if no such succession had taken place.

 

    	 	13	 

     

    

 

19.5.          The
Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate,
impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the
parties hereto agree that Indemnitee may enforce this Agreement by seeking, among other things, injunctive relief and/or specific
performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or
specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which he may be entitled.
The Company and Indemnitee further agree that Indemnitee shall be entitled to such specific performance and injunctive relief,
including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds
or other undertaking in connection therewith. The Company acknowledges that in the absence of a waiver, a bond or undertaking may
be required of Indemnitee by a Court of competent jurisdiction and the Company hereby waives any such requirement of such a bond
or undertaking.

 

20.         MODIFICATION
AND WAIVER.

 

No supplement, modification or amendment
of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute
a continuing waiver.

 

21.         NOTICES.

 

All notices, requests, demands and other
communications under this Agreement shall be in writing and shall be deemed to have been duly given (i) if delivered by hand
and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified
or registered mail with postage prepaid, on the third (3rd) business day after the date on which it is so mailed:

 

(a)          If
to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide
in writing to the Company.

 

(b)          If
to the Company, to:

 

Easterly Acquisition Corp.

205 Hudson Street, 7th Floor

New York, NY 10013

Attn: Avshalom Kalichstein

  

or to any other address as may have been furnished to Indemnitee
in writing by the Company.

 

22.         APPLICABLE
LAW AND CONSENT TO JURISDICTION.

 

This Agreement and the legal relations among
the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard
to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14.1 of
this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding
arising out of or in connection with this Agreement shall be brought only in the Delaware Court and not in any other state or federal
court in the United States of America or any court in any other country; (b) consent to submit to the exclusive jurisdiction of
the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement; (c) waive
any objection to the laying of venue of any such action or proceeding in the Delaware Court; and (d) waive, and agree not
to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper
or inconvenient forum, or is subject (in whole or in part) to a jury trial. 

 

    	 	14	 

     

    

 

23.         IDENTICAL
COUNTERPARTS.

 

This Agreement may be executed in one or
more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute
one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced
to evidence the existence of this Agreement.

 

24.         MISCELLANEOUS.

 

Use of the masculine pronoun shall be deemed
to include usage of the feminine pronoun where appropriate. The headings of the paragraphs of this Agreement are inserted for convenience
only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

 

25.         PERIOD
OF LIMITATIONS.

 

No legal action shall be brought and no
cause of action shall be asserted by or in the right of the Company against Indemnitee, Indemnitee’s spouse, heirs, executors
or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any
claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal
action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any
such cause of action such shorter period shall govern.

 

26.         ADDITIONAL
ACTS.

 

If for the validation of any of the provisions
in this Agreement any act, resolution, approval or other procedure is required, the Company undertakes to cause such act, resolution,
approval or other procedure to be affected or adopted in a manner that will enable the Company to fulfill its obligations under
this Agreement.

 

27.         WAIVER
OF CLAIMS TO TRUST ACCOUNT.

 

Indemnitee hereby agrees that it does not
have any right, title, interest or claim of any kind (each, a “Claim”) in or to any monies in the trust
account established in connection with the Company’s initial public offering for the benefit of the Company and holders of
shares issued in such offering, and hereby waives any Claim it may have in the future as a result of, or arising out of, any services
provided to the Company and will not seek recourse against such trust account for any reason whatsoever.

 

[Signature page follows]

 

    	 	15	 

     

    

 

IN WITNESS WHEREOF, the parties hereto
have caused this Indemnity Agreement to be signed as of the day and year first above written.

 

	 	EASTERLY ACQUISITION CORP.

 

	 	By:	/s/ Avshalom Kalichstein
	 	 	Name: Avshalom Kalichstein
	 	 	Title: Chief Executive Officer
	 	 	 
	 	By:	/s/ Daniel Shea
	 	 	Name: Daniel Shea
	 	 	Address:

 

[Signature page to Indemnity Agreement]

 

    	 	16Exhibit 10.1

 

EXECUTION
VERSION

 

CREDIT
AGREEMENT

 

Dated
as of September 18, 2018

 

among

 

CANCER
GENETICS, INC.

 

as
Borrower

 

and

 

NOVELLUSDX,
LTD.

 

as
Lender

 

 

    	 

     

    

 

TABLE
OF CONTENTS

 

	Article
    I DEFINITIONS	1
	1.1	Definitions	1
	1.2	Other Interpretive Provisions	8
	1.3	Accounting
Principles	9
	 	 	 
	Article
    II THE CREDITS	9
	2.1	Commitments	9
	2.2	Optional
Principal Payments	9
	2.3	Interest
Rate	10
	2.4	Method
of Payment	10
	2.5	Note	10
	2.6 	Interest
Payment Dates	10
	2.7	Repayments	10
	 	 	 
	Article
    III [RESERVED]	10
	3.1	[Reserved]	10
	 	 	 
	Article
    IV CONDITIONS PRECEDENT	10
	4.1	Initial
Advance	10
	4.2	Subsequent
Advance	11
	 	 	 
	Article
    V REPRESENTATIONS AND WARRANTIES	11
	5.1	Merger
Agreement Representations and Warranties	11
	5.2	Corporate
Existence and Standing	11
	5.3	Authorization
and Validity	11
	5.4	No
Conflict; Government Consent	12
	5.5	Margin
Stock	12
	5.6	Anti-Money
Laundering	12
	5.7	Embargoed
Person	12
	5.8	Representations
Continuing	13
	 	 	 
	Article
    VI COVENANTS	13
	6.1	Financial Reporting	14
	6.2	Use
of Proceeds	14
	6.3	Notice
of Adverse Development	14
	6.4 	Conduct
of Business	14
	6.5	Taxes	15
	6.6	Insurance	15
	6.7	Compliance
with Laws	15
	6.8	Maintenance
of Properties	15
	6.9	Inspection	15
	6.10	Reserved	15
	6.11	Indebtedness	15
	6.12	Merger	16
	6.13	Sale
of Assets	16
	6.14	Investments
and Acquisitions	16
	6.15	Liens	16

 

    	i

     

    

 

	6.16	Affiliates	17
	6.17	Fiscal
Year	17
	6.18	Limitation
on the Creation of Subsidiaries	17
	6.19	Subsidiary
Dividends	17
	6.20	Restricted
Payments	17
	6.21 	Borrower
Compliance with Anti-Money Laundering Laws	17
	6.22	Amendments
to Agreements	18
	6.23	Repayment
of Indebtedness	18
	6.24	Further
Assurances	18
	 	 	 
	Article
    VII CONVERSION OF Loans	18
	7.1 	Optional
Conversion Upon a Specified Event of Default	18
	7.2	No
Mandatory Conversion	18
	7.3	Method
of Conversion	18
	7.4	Issuance
of Conversion Shares	19
	7.5	Reserved
Borrower Common Stock	19
	 	 	 
	Article
    VIII Events of DEFAULT	19
	8.14	There
shall have occurred a Material Adverse Effect.	21
	 	 	 
	Article
    IX ACCELERATION AND REMEDIES	21
	9.1	Acceleration	21
	9.2	Remedies	21
	9.3	Preservation
of Rights	21
	 	 	 
	Article
    X GENERAL PROVISIONS	21
	10.1	Survival
of Representations	21
	10.2	Governmental
Regulation	22
	10.3	Taxes	22
	10.4	Headings	22
	10.5	Entire
Agreement	22
	10.6 	Benefits
of this Agreement	22
	10.7 	Costs
and Expenses; Indemnification	22
	10.8	Accounting	22
	10.9	Severability
of Provisions	22
	10.10	Nonliability
of Lender	23
	10.11	Amendment
and Waiver	23
	10.12	Notices	23
	10.13	Change
of Address	23
	10.14	Counterparts	23
	10.15	Waiver
of Suretyship and other Defenses	24
	10.16	GOVERNING
LAW	24
	10.17	CONSENT
TO JURISDICTION	24
	10.18	WAIVER
OF JURY TRIAL	24
	10.19	WAIVER
OF DEFENSES	25
	10.20	Release
of Claims Against Lender	25
	10.21	Revival
and Reinstatement of Obligations	25
	10.22	Customer
Identification - USA Patriot Act Notice	25
	10.23	Inconsistencies	25
	10.24	Successors
and Assigns	26
	10.25	Subordination	26

 

    	ii

     

    

 

CREDIT
AGREEMENT

 

This
Credit Agreement (as it may be amended, restated, supplemented, or modified and in effect from time to time, this “Agreement”),
dated as of September 18, 2018 is entered into by and between Cancer Genetics, Inc., a Delaware corporation (together with its
successors and permitted assigns, “Borrower”) and NovellusDX, Ltd., a company established under the laws of
the State of Israel (“Lender”).

 

WHEREAS,
Borrower has requested that Lender make certain credit facilities available to it and Lender is willing to do so, upon the terms
and subject to the conditions hereof.

 

WHEREAS,
the Obligations are subordinated to the extent set forth in Section 10.25.

 

NOW,
THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, the parties agree as follows:

 

Article
I

DEFINITIONS

 

1.1
Definitions. As used in this Agreement, the following terms shall have the meanings herein specified unless the context
otherwise requires:

 

“Acquisition”
means any transaction, or any series of related transactions, consummated on or after the date of this Agreement, by which Borrower
(i) acquires any going concern business or all or substantially all of the assets of any firm, corporation or division thereof,
whether through the purchase of assets, merger, amalgamation or otherwise or (ii) directly or indirectly acquires (in one transaction
or as the most recent transaction in a series of transactions) at least a majority (in number of votes) of the securities of a
corporation which have ordinary voting power for the election of directors (other than securities having such power only by reason
of the happening of a contingency) or a majority (by percentage or voting power) of the outstanding partnership interests of a
partnership or membership interests in a limited liability company.

 

“Advance”
means each of the Initial Advance and the Subsequent Advance.

 

“Affiliate”
means, as to any Person, any other Person which, directly or indirectly, is in control of, is controlled by, or is under common
control with, such Person. A Person shall be deemed to control another Person if the controlling Person possesses, directly or
indirectly, the power to direct or cause the direction of the management and policies of the other Person, whether through the
ownership of voting securities, membership interests, by contract, or otherwise.

 

“Agreement”
has the meaning set forth in the preamble to this Agreement.

 

“Anti-Money
Laundering Laws” means the Bank Secrecy Act, 31 U.S.C. §§ 5311 et seq., and all applicable laws, regulations
and government guidance on Bank Secrecy Act compliance and on the prevention and detection of money laundering violations under
18 U.S.C. §§ 1956 and 1957, and all similar laws of any non-U.S. jurisdiction.

 

“Article”
means an article of this Agreement unless another document is specifically referenced.

 

    	1

     

    

 

“Authorized
Officer” means any of the chief executive officer, president, vice president, chief financial officer, secretary or
treasurer of Borrower, or any other senior officer of Borrower designated as such in writing to Lender by Borrower, in each case
acting singly.

 

“Borrower”
has the meaning set forth in the preamble to this Agreement.

 

“Borrower
Common Stock” means the common stock, par value $0.0001 per share, of Borrower.

 

“Borrowing
Date” has the meaning set forth in Section 2.1.1.

 

“Business
Day” means with respect to any borrowing, payment and for all other purposes, a day (other than a Saturday or Sunday)
on which banks generally are open in New York, New York for the conduct of substantially all of their commercial lending activities.

 

“Borrowing
Notice” has the meaning set forth in Section 2.1.3.

 

“Capitalized
Lease” of a Person means any lease of Property by such Person as lessee which would be capitalized on a balance sheet
of such Person prepared in accordance with GAAP.

 

“Capitalized
Lease Obligations” of a Person means the amount of the obligations of such Person under Capitalized Leases which would
be shown as a liability on a balance sheet of such Person prepared in accordance with GAAP.

 

“Change”
means any adoption of or change in any law, governmental or quasi-governmental rule, regulation, policy, guideline, interpretation,
or directive (whether or not having the force of law) after the date of this Agreement which affects the amount of capital required
or expected to be maintained by Lender or any corporation controlling Lender.

 

“Change
of Control” means the occurrence of either of the following:

 

(1)
the sale, lease or transfer (other than by way of merger or consolidation), in one or a series of related transactions, of all
or substantially all the assets of Borrower and its Subsidiaries, taken as a whole, to any Person or group (within the meaning
of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision); or

 

(2)
the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or
any successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within
the meaning of Rule 13d-5(b)(1) under the Exchange Act), in a single transaction or in a related series of transactions, by
way of merger, consolidation, amalgamation or other business combination or purchase of beneficial ownership (within the
meaning of Rule 13d-3 under the Exchange Act, or any successor provision), of more than 50% of the total voting power of the
Voting Stock of Borrower, in each case, other (i) than an acquisition where the holders of the Voting Stock of Borrower as of
immediately prior to such acquisition hold 50% or more of the Voting Stock of the ultimate parent of Borrower or successor
thereto immediately after such acquisition (provided no holder of the Voting Stock of Borrower as of immediately prior to
such acquisition owns, directly or indirectly, more than 50% of the voting power of the Voting Stock of Borrower immediately
after such acquisition) and (ii) the Merger (as defined in the Merger Agreement).

 

“Closing
Date” means September 18, 2018.

 

    	2

     

    

 

“Code”
means the Internal Revenue Code of 1986, as amended, reformed or otherwise modified from time to time.

 

“Commitment”
means an amount up to $2,300,000 with regard to the Loans, continuing until the Commitment Termination Date.

 

“Commitment
Termination Date” means the earliest of (a) the Maturity Date, (b) the “Closing Date” as defined in the
Merger Agreement or (c) the effective date of the termination of the Merger Agreement in accordance with its terms.

 

“Contingent
Obligation” of a Person means, without duplication, any agreement, undertaking or arrangement by which such Person directly
or indirectly assumes guarantees, endorses, contingently agrees to purchase or provide funds for the payment of, or otherwise
becomes or is contingently liable upon, the obligation or liability of any other Person, or agrees to maintain the net worth or
working capital or other financial condition of any other Person, or otherwise assures any creditor of such other Person against
loss, including, without limitation, any operating agreement, comfort letter, take-or-pay contract or application but excluding
any endorsement of instruments for deposit or collection in the ordinary course of business.

 

“Contractual
Obligation” means, with respect to any Person, any contract, agreement, deed, mortgage, lease, license, commitment,
promise, undertaking, arrangement, performance bond, warranty obligation or understanding, whether written or oral and whether
express or implied, or other document or instrument (including any document or instrument evidencing or otherwise relating to
any Indebtedness), to which or by which such Person is a party or otherwise subject or bound or to which or by which any property,
business, operation or right of such Person is subject or bound.

 

“Controlled
Group” means all members of a controlled group of corporations and all trades or businesses (whether or not incorporated)
under common control which, together with Borrower or any of its Subsidiaries, are treated as a single employer under Section
414 of the Code.

 

“Conversion
Date” has the meaning set forth in Section 7.1.

 

“Conversion
Notice” has the meaning set forth in Section 7.1.

 

“Conversion
Shares” has the meaning set forth in Section 7.1.

 

“Converted
Loan” has the meaning set forth in Section 7.1.

 

“Default”
means an event which but for the lapse of time or the giving of notice, or both, would constitute an Event of Default.

 

“Dollars”,
“U.S. Dollars” and “$” mean dollars in lawful currency of the United States of America.

 

“DTC”
has the meaning set forth in Section 7.4.

 

“EDGAR”
means the SEC’s Electronic Data Gathering, Analysis and Retrieval system.

 

“Embargoed
Person” shall have the meaning set forth in Section 5.7(a).

 

    	3

     

    

 

“Environmental
Laws” means any and all federal, state, provincial, local and foreign statutes, laws, judicial decisions, regulations,
ordinances, rules, judgments, orders, decrees, injunctions, permits, grants, franchises, licenses, agreements and other governmental
restrictions relating to (i) the protection of the environment, (ii) the effect of the environment on human health, (iii) emissions,
discharges or releases of pollutants, contaminants, hazardous substances or wastes into surface water, ground water or land, or
(iv) the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants,
hazardous substances or wastes or the clean-up or other remediation thereof.

 

“Environmental
Liability” means any written claim, demand, obligation, cause of action, accusation or allegation, or any order, violation,
damage (including, without limitation, to any Person, property or natural resources), injury, judgment, penalty or fine, cost
of enforcement, cost of remedial action, cleanup, restoration or any other cost or expense whatsoever, including reasonable attorneys’
fees and disbursements resulting from the violation or alleged violation of any Environmental Law or the imposition of any Environmental
Lien or otherwise arising under any Environmental Law or resulting from any common law cause of action asserted by any Person.

 

“Environmental
Lien” means a Lien in favor of any Governmental Authority: (a) under any Environmental Law; or (b) for any liability
or damages arising from, or costs incurred by, any Governmental Authority in response to the release or threatened release of
any Hazardous Material.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any rule or regulation issued thereunder.

 

“Event
of Default” has the meaning set forth in Article VIII.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

 

“FAST
Program” has the meaning set forth in Section 7.4.

 

“FATF”
has the meaning set forth in Section 5.7(b).

 

“Fiscal
Year” means January 1 through December 31.

 

“GAAP”
means generally accepted accounting principles in the United States of America as in effect from time to time.

 

“Governmental
Authority” means any governmental, regulatory or administrative authority, agency, commission, department, bureau, instrumentality,
tribunal, board, court or any judicial or arbitral body, any public regulatory authority, in each case whether international,
national, federal, state, provincial or local, and any entity or official exercising executive, legislative, judicial, regulatory
or administrative functions of or pertaining to any Laws.

 

“Hazardous
Material” means any substance, material, or waste which is or becomes regulated, under any Environmental Law, as hazardous
to public health or safety or to the environment, including, but not limited to: (a) any substance or material designated as a
“hazardous substance” pursuant to Section 311 of the Clean Water Act, as amended, 33 U.S.C. §1251 et seq., or
listed pursuant to Section 307 of the Clean Water Act, as amended; (b) any substance or material defined as “hazardous waste”
pursuant to Section 1004 of the Resource Conservation and Recovery Act, as amended, 42 U.S.C. §6901 et seq.; (c) any substance
or material defined as a “hazardous substance” pursuant to Section 101 of the Comprehensive Environmental Response,
Compensation and Liability Act, as amended, 42 U.S.C. §9601 et seq.; or (d) petroleum, petroleum products and petroleum waste
materials.

 

    	4

     

    

 

“Iliad
Convertible Note” means that certain Convertible Promissory Note, dated July 17, 2018, made by Borrower in the aggregate
principal amount of $2,625,000.00, as in effect on the Closing Date.

 

“Indebtedness”
of a Person means, without duplication, (i) such Person’s obligations for borrowed money, (ii) such Person’s obligations
representing the deferred purchase price of Property or services (other than accounts payable arising in the ordinary course of
such Person’s business payable on terms customary in the trade and not more than 60 days past due), (iii) obligations of
another Person, whether or not assumed, secured by Liens, or payable out of the proceeds or production from property now or hereafter
owned or acquired by such Person, (iv) such Person’s obligations which are evidenced by notes, acceptances, or other instruments,
(v) such Person’s Capitalized Lease Obligations, and (vi) such Person’s Contingent Obligations.

 

“Initial
Advance” shall have the meaning set forth in Section 2.1.2.

 

“Inventory”
means any “inventory,” as such term is defined in the UCC, now owned or hereafter acquired by any Person, wherever
located.

 

“Investment”
of a Person means any loan, advance (other than travel and similar advances to officers and employees made in the ordinary course
of business), extension of credit (other than accounts receivable arising in the ordinary course of business on terms customary
in the trade) or contribution of capital by such Person, stocks, bonds, mutual funds, partnership interests, notes, debentures
or other securities owned by such Person.

 

“Law”
means any statute, law, ordinance, regulation, rule, code, injunction, judgment, decree or Order of any Governmental Authority.

 

“Lender”
has the meaning set forth in the preamble to this Agreement.

 

“Lien”
means any lien (statutory or other), mortgage, pledge, hypothecation, filed financing statement, assignment, encumbrance or preference,
priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation,
the interest of a vendor or lessor under any conditional sale, Capitalized Lease or other title retention agreement).

 

“Loan”
or “Loans” have the meanings set forth in Section 2.1.1.

 

“Loan
Documents” means this Agreement, the Note, the Registration Rights Agreement and any other documents and agreements
contemplated hereby and executed by Borrower in favor of Lender.

 

“Material
Adverse Effect” means any circumstances or events which could reasonably be expected to: (a) have a material adverse
effect upon the validity, performance, or enforceability of any of the Loan Documents or the rights or remedies of Lender thereunder;
(b) materially impair the ability of Borrower or any other Person to fulfill its obligations under the Loan Documents to which
such Person is a party; or (c) have a material adverse effect on the operations, business, Property, assets, liabilities (actual
or contingent), condition (financial or otherwise), or results of operations of Borrower.

 

“Material
Indebtedness” shall have the meaning set forth in Section 8.5.

 

    	5

     

    

 

“Maturity
Date” means the earliest of (i) the End Date (as defined in the Merger Agreement and as may be extended in accordance
with the terms thereof), and (ii) the date on which the Merger Agreement shall have been terminated in accordance with its terms
(provided, that if the Merger Agreement shall have been terminated in accordance with Section 8.01(d), Section 8.01(f), Section
8.01(j) or Section 8.01(k) thereof, then the Maturity Date shall be the 90th day immediately following the date of
such termination).

 

“Merger
Agreement” means that certain Agreement and Plan of Merger, dated as of the date hereof, by and among Lender, Borrower
and Wogolos Ltd., as may be amended, supplemented or modified in accordance with its terms.

 

“Note”
means the promissory note, duly executed and delivered to Lender by Borrower on the Closing Date payable to the order of Lender
in an amount equal to the Commitment, including any amendment, modification, renewal or replacement of such note.

 

“Obligations”
means all of the obligations, Indebtedness and liabilities of Borrower to Lender, now existing or hereinafter arising of whatever
nature including, without limitation, all unpaid principal of and accrued and unpaid interest on the Loans, all accrued and unpaid
obligations and fees arising under all other Loan Documents, and all expenses, reimbursements, indemnities and other obligations
of Borrower to Lender or any indemnified party hereunder arising under the Loan Documents and including any and all interest and
fees that accrue after the commencement by or against Borrower of any proceeding under any bankruptcy, insolvency, receivership
or similar laws, regardless of whether such interest and fees are allowed claims in such proceeding.

 

“OFAC”
has the meaning set forth in Section 5.7(a).

 

“Order”
means any writ, judgment, injunction, determination, consent, order, decree, stipulation, award or executive order of or by any
Governmental Authority.

 

“Permitted
Convertible Debt” has the meaning set forth in the Merger Agreement.

 

“Permitted
Liens” has the meaning set forth in Section 6.15.

 

“Person”
means any natural person, corporation, limited liability company, firm, joint venture, partnership, association, enterprise, trust
or other entity or organization, or any Governmental Authority, political subdivision or any agency, department or instrumentality
thereof.

 

“Property”
of a Person means any and all property, whether real, personal, tangible, intangible, or mixed, of such Person, or other assets
owned, leased or operated by such Person.

 

“Registration
Rights Agreement” means a registration rights agreement with respect to the Conversion Shares, in the form attached
as Exhibit 1, to be entered into between Borrower and Lender on the Closing Date.

 

“Representative”
means, with respect to any Person, such Person’s and each of its Subsidiaries’ and controlled Affiliates’ respective
directors, officers, employees, investment bankers, financial advisors, attorneys, accountants or other advisors, agents or representatives.

 

    	6

     

    

 

“Restricted
Payment” means, with respect to any Person (a) the declaration or payment of any dividend or the incurrence of any liability
to make any other payment or distribution of cash or other property or assets in respect of Stock (other than non-cash dividends
or other non-cash distributions in the form of additional stock issued by Borrower to the extent such issuance is not prohibited
hereunder); (b) any payment on account of the purchase, redemption, defeasance, sinking fund or other retirement of such Person’s
Stock or any other payment or distribution made in respect thereof, either directly or indirectly; (c) any payment made to redeem,
purchase, repurchase or retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire Stock
of such Person now or hereafter outstanding; (d) any payment of a claim for the rescission of the purchase or sale of, or for
material damages arising from the purchase or sale of, any shares of such Person’s Stock or of a claim for reimbursement,
indemnification or contribution arising out of or related to any such claim for damages or rescission; and (e) any payment, loan,
contribution, or other transfer of funds or other property to any stockholder (or other equity holder) of such Person other than
payment of compensation in the ordinary course of business.

 

“SEC”
means the U.S. Securities and Exchange Commission.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

 

“Senior
Indebtedness” means the Indebtedness evidenced by any Senior Indebtedness Documents, including all principal and interest
together with other Indebtedness and costs and expenses for which Borrower or any of its Subsidiaries is responsible under the
Senior Indebtedness Documents.

 

“Senior
Indebtedness Documents” means all instruments, agreements and documents, whether now or hereafter existing executed
in connection with the Senior Indebtedness, including, without limitation (i) that certain Amended and Restated Loan and Security
Agreement, dated as of March 22, 2017, by and among Silicon Valley Bank, Borrower and Gentris, LLC and (ii) that certain Loan
and Security Agreement, dated as of March 22, 2017, by and among Partners for Growth IV, L.P., Borrower and Gentris, LLC, in each
case of the immediately preceding clauses (i) and (ii), as such agreement have been or may be amended in accordance with its terms.

 

“Share
Delivery Date” has the meaning set forth in Section 7.4.

 

“Specified
Event of Default” shall mean any Event of Default occurring under Section 8.2 (failure to pay when due), Section
8.6 (bankruptcy), Section 8.7 (involuntary bankruptcy and non-bankruptcy events), Section 8.11 (Change of Control),
Section 8.13 (termination of Merger Agreement) or Section 8.14 (Material Adverse Effect).

 

“Stock”
means all shares, options, warrants, general or limited partnership interests, membership interests or other equivalents (regardless
of how designated) of or in a corporation, partnership, limited liability company or equivalent entity, whether voting or nonvoting,
including common stock, preferred stock or any other “equity security” (as such term is defined in Rule 3a11-1 promulgated
under the Exchange Act).

 

“Subsequent
Advance” has the meaning set forth in Section 2.1.3.

 

“Subsidiary”
means, with respect to any Person, (1) any corporation, association or other business entity (other than a partnership, joint
venture or limited liability company) of which more than 50% of the total voting power of shares of Stock entitled (without regard
to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time of determination
owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination
thereof, and (2) any partnership, joint venture or limited liability company of which (x) more than 50% of the capital accounts,
distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned
or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination
thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (y) such Person
or any Subsidiary of such Person is a controlling general partner or otherwise controls such entity.

 

    	7

     

    

 

“Taxes”
means any and all present or future taxes, duties, levies, imposts, deductions, charges or withholdings, and any and all liabilities
with respect to the foregoing, including interest, penalties and additions.

 

“Trading
Market” means whichever of the New York Stock Exchange, the NYSE American, the NASDAQ Global Select Market, the NASDAQ
Global Market, the NASDAQ Capital Market, the OTCQB, the OTCQX, the OTCPink or the OTCBB on which the Borrower Common Stock is
listed or quoted for trading on the date in question.

 

“Trading
Day” means (a) a day on which the Borrower Common Stock is traded on a Trading Market (other than the OTCQB, the OTCQX,
the OTCPink or the OTCBB), or (b) if the Borrower Common Stock is not listed or quoted on any such Trading Market, a day on which
the Borrower Common Stock is quoted on the OTCQB, OTCQX, OTCPink or the OTCBB; provided, that if the Borrower Common Stock
is not listed or quoted as set forth in the immediately preceding clauses (a) or (b), then Trading Day shall mean a Business Day.

 

“Voidable
Transfer” shall have the meaning set forth in Section 10.21.

 

“Voting
Stock” of any Person as of any date means the Stock of such Person that is at the time entitled to vote in the election
of the Board of Directors of such Person.

 

1.2
Other Interpretive Provisions.

 

(a)
The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms. All references to
Persons shall include such Person’s successors and assigns, as applicable.

 

(b)
The words “hereof”, “herein”, “hereunder” and similar words refer to this Agreement as a whole
and not to any particular provision of this Agreement. The terms subsection, Section, Schedule and Exhibit refer to subsections,
Sections, Schedules and Exhibits to this Agreement unless otherwise specified. The term “documents” includes any and
all instruments, documents, agreements, certificates, indentures, notices and other writings, however evidenced. The term “including”
is not limiting and means “including without limitation.” In the computation of periods of time from a specified date
to a later specified date, the word “from” means “from and including”; the words “to” and
“until” each mean “to but excluding”, and the word “through” means “to and including.”
The term “property” includes any kind of property or asset, real, personal or mixed, tangible or intangible.

 

(c)
Unless otherwise expressly provided herein, (i) references to agreements (including this Agreement) and other contractual instruments
shall be deemed to include all subsequent amendments and other modifications thereto, but only to the extent such amendments and
other modifications are not prohibited by the terms of any Loan Document, and (ii) references to any statute or regulation are
to be construed as including all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting
the statute or regulation.

 

(d)
This Agreement and other Loan Documents may use several different limitations, tests or measurements to regulate the same or similar
matters. All such limitations, tests and measurements are cumulative and shall each be performed in accordance with their terms.
Unless otherwise expressly provided, any reference to any action of Lender by way of consent, approval or waiver shall be deemed
modified by the phrase “in its sole discretion.”

 

    	8

     

    

 

(e)
This Agreement and the other Loan Documents are the result of negotiations among and have been reviewed by counsel to Lender and
Borrower, and are the products of both parties. Accordingly, they shall not be construed against Lender merely because of Lender’s
involvement in their preparation.

 

(f)
If Borrower is required to deliver any amount, document, notice or information on a day which is not a Business Day, the Borrower
shall make such delivery on the immediately following Business Day.

 

1.3
Accounting Principles.

 

(a)
Unless the context otherwise clearly requires, all accounting terms not expressly defined herein shall be construed, and all financial
computations required under this Agreement shall be made, in accordance with GAAP, consistently applied.

 

(b)
References herein to “fiscal year” and “fiscal quarter” refer to such fiscal periods for Borrower.

 

Article
II

THE CREDITS

 

2.1
Commitments. On and subject to the terms and conditions of this Agreement, Lender agrees to make loans to Borrower as follows:

 

2.1.1
Loans. Subject to the conditions contained in this Agreement (including this Section 2.1), Lender agrees to make loans
to Borrower (each, a “Loan”, and collectively, the “Loans”) from time to time on or after
the Closing Date and prior to the Commitment Termination Date (each such date, a “Borrowing Date”) as set forth
in this Article II.

 

2.1.2
Closing Date Advance. On the Closing Date, Lender shall Advance Borrower an amount equal to $1,500,000 (the “Initial
Advance”). The Initial Advance shall constitute a Loan hereunder and shall be deemed to utilize the Commitment by an
amount equal to the Initial Advance.

 

2.1.3
Subsequent Advance. On and after the date on which Borrower files the Form S-4 with the SEC, Borrower may request, and
Lender shall provide to Borrower, a single Advance in the aggregate principal amount equal to $800,000 (the “Subsequent
Advance”); provided, that with respect to the Subsequent Advance, Borrower delivers to Lender an irrevocable
notice not later than noon (New York time) five (5) Business Days prior to the Borrowing Date for the Subsequent Advance, specifying
the Borrowing Date, which shall be a Business Day, of the Subsequent Advance (the “Borrowing Notice”).

 

2.1.4
Delivery of Funds. Not later than 5 p.m. (New York time) on each Borrowing Date, Lender shall make available to Borrower
its Loan or Loans in immediately available funds.

 

2.2
Optional Principal Payments. Borrower may from time to time prepay the Loans in whole or in part; provided that
Borrower shall deliver to Lender three (3) Business Days’ prior notice thereof specifying the Loans to be prepaid and the
date (which shall be a Business Day) and amount of prepayment. Any such partial prepayment shall be in an amount equal to $50,000
or a higher integral multiple of $50,000. Amounts borrowed hereunder and repaid may not be reborrowed.

 

    	9

     

    

 

2.3
Interest Rate. Interest on each Advance hereunder shall accrue at a rate equal to 10.75% per annum, calculated for actual
days elapsed on the basis of a 365/366-day year; provided, that upon the occurrence and during the continuance of an Event of
Default, each outstanding Advance and each other accrued and unpaid Obligation shall bear interest at a rate per annum equal to
the lesser of (i) 21.0% and (ii) the highest rate of interest permitted by applicable Law.

 

2.4
Method of Payment. All payments of the Obligations hereunder shall be made, without setoff, deduction, or counterclaim,
in immediately available funds to Lender at such account as Lender may designate to Borrower in writing from time to time, by
noon (New York time) on the date when due.

 

2.5
Note. The Loans shall be evidenced by the Note payable to the order of Lender. Lender is hereby authorized to record the
principal amount of each of the Loans and each repayment (or conversion pursuant to Article VII) on a schedule attached
to the Note or otherwise in Lender’s records, and such entries shall be prima facie evidence of the existence and the amounts
of the Obligations therein recorded; provided, however, that neither the failure to so record nor any error in such recordation
shall affect Borrower’s obligations under the Note or this Agreement.

 

2.6
Interest Payment Dates. Subject to the earlier conversion of the Loans in accordance with Article VII, interest
accrued on each Advance shall be payable on any date on which such Advance (or portion thereof) is repaid, whether due to prepayment,
acceleration or otherwise, and at maturity. Interest on all Advances and fees shall be calculated for actual days elapsed on the
basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the
amount paid if payment is received prior to noon (New York time) at the place of payment. If any payment of principal on an Advance
shall become due on a day which is not a Business Day such payment shall be made on the next succeeding Business Day and such
extension of time shall be included in computing interest in connection with the interest due hereunder.

 

2.7
Repayments. The commitment of Lender to lend hereunder shall expire on the Commitment Termination Date. Subject to the
earlier conversion of the Loans in accordance with Article VII, unless sooner paid in full, all outstanding Loans, together
with all accrued and unpaid interest thereon, shall be paid in full in cash by Borrower on the Maturity Date. Each payment set
forth in this Section 2.7 shall be in addition to and without limitation of each other payment requirement set forth herein
(including, without limitation, each interest payment required under Section 2.6) and in the other Loan Documents.

 

Article
III

[RESERVED]

 

3.1
[Reserved].

 

Article
IV

CONDITIONS PRECEDENT

 

4.1
Initial Advance. Lender shall not be required to make the Initial Advance hereunder unless Borrower has furnished and delivered
to Lender, and Lender has received and approved the items specified in this Section 4.1, each dated as of the Closing Date
(or such earlier date as shall be acceptable to Lender) and fully executed, where applicable and all submissions which are not
originals must be true and complete copies of these items and if requested by Lender, must be so certified by Borrower:

 

    	10

     

    

 

(a)
Copies, certified by the secretary of Borrower, of the certificate of incorporation of Borrower, together with all amendments
thereto, as in effect on the Closing Date, and a certificate of good standing of Borrower from the State of Delaware.

 

(b)
A certificate executed by the secretary of Borrower, certifying (i) Borrower’s bylaws, as in effect on the Closing Date,
(ii) resolutions of Borrower’s board of directors authorizing the execution, delivery and performance by Borrower of each
of the Loan Documents and (iii) the name, title and signature of each officer executing the Loan Documents on behalf of Borrower.

 

(c)
This Agreement, the Note, the Registration Rights Agreement and each other Loan Document, in each case, fully executed and in
form and substance acceptable to Lender.

 

(d)
Such other documents and instruments as Lender or its counsel may have reasonably requested, in each case, in form and substance
acceptable to Lender.

 

4.2
Subsequent Advance. Lender shall not be required to make the Subsequent Advance, unless on the applicable Borrowing Date:

 

(a)
No Event of Default of Default shall have occurred and be continuing or would result from the Subsequent Advance;

 

(b)
Borrower shall have filed with the SEC, and shall not have withdrawn, the Form S-4.

 

(c)
The Merger Agreement shall be in full force and effect. 

 

(d)
There shall not have occurred a Material Adverse Effect.

 

(e)
At least five (5) Business Days shall have elapsed since Borrower shall have furnished to Lender a Borrowing Notice.

 

Each
Borrowing Notice with respect to each such Advance shall constitute a representation and warranty by Borrower that all of the
conditions contained in this Section 4.2 have been satisfied.

 

Article
V

REPRESENTATIONS AND WARRANTIES

 

To
induce Lender to make the Loans hereunder, Borrower hereby represents and warrants to Lender as follows:

 

5.1
Merger Agreement Representations and Warranties. All of Borrower’s representations and warranties contained in the
Merger Agreement are true and correct, and such representation and warranty is incorporated by reference and a part hereof.

 

5.2 Corporate
Existence and Standing. Borrower is a corporation duly formed, validly existing and in good standing under the laws of
the State of Delaware. Borrower is duly qualified and in good standing as a foreign corporation authorized to do business in
each jurisdiction where such qualification is required under applicable Law except where the failure to be so qualified
would not, individually or in the aggregate, result in a Material Adverse Effect.

 

5.3
Authorization and Validity. Borrower has the power and authority and legal right to execute and deliver this Agreement
and the other Loan Documents to which it is a party and to perform its obligations hereunder and thereunder. The execution and
delivery by Borrower of this Agreement and the other Loan Documents and the performance of its obligations hereunder and thereunder
have been duly authorized by proper corporate proceedings, and the Loan Documents constitute legal, valid and binding obligations
of Borrower, enforceable against Borrower in accordance with their respective terms, except as enforceability may be limited by
bankruptcy, insolvency or similar laws or general principles of equity relating to remedies affecting or relating to the enforcement
of creditors’ rights generally.

 

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5.4
No Conflict; Government Consent. Neither the execution and delivery by Borrower of the Loan Documents, nor the consummation
of the transactions therein contemplated, nor compliance with the provisions thereof will violate any Law applicable to Borrower
or any of its Subsidiaries, or violate Borrower’s certificate of incorporation or other governing documents, or the provisions
of any loan agreement, note, indenture, instrument or other agreement to which Borrower is a party or is subject, or by which
any of its Property is bound, or conflict with or constitute a default thereunder, or result in the creation or imposition of
any Lien in, of or on the Property of Borrower pursuant to the terms of any such loan agreement, note, indenture, instrument or
other agreement. No order, consent, approval, license authorization, or validation of, or filing, recording or registration with,
or exemption by, or other action in respect of any Governmental Authority, or any subdivision thereof, is required to authorize,
or is required in connection with the execution, delivery and performance of, or the legality, validity, binding effect of, any
of the Loan Documents.

 

5.5
Margin Stock. Borrower is not engaged in the business of extending credit for the purpose of purchasing or carrying Margin
Stock, and no proceeds of any Loan will be used: (a) to purchase or carry any Margin Stock or to extend credit to others for the
purpose of purchasing or carrying any Margin Stock; (b) to reduce or retire any indebtedness which was originally incurred to
purchase or carry any such Margin Stock; or (c) for any other purpose which might constitute this transaction a “purpose
credit” within the meaning of Regulation T, U, or X. Neither Borrower, nor any person acting on behalf of Borrower,
has taken or will take any action which might cause any Loan Document to violate Regulation T, U or X or any other regulation
of the Board of Governors of the Federal Reserve System or to violate Section 7 of the Securities Exchange Act, in each case as
now in effect or as the same may hereafter be in effect.

 

5.6
Anti-Money Laundering. At all times throughout the term of this Agreement, including after giving effect to any transfers
permitted pursuant to the Loan Documents, none of the funds of Borrower that are used to repay any Loan shall be derived from
or are the proceeds of any unlawful activity, with the result that the investment in Borrower, whether directly or indirectly,
is prohibited by Law or any Loan is in violation of Law. Neither Borrower nor any shareholder or member of Borrower (a) is under
investigation by any Governmental Authority for, or has been charged with, or convicted of, money laundering under 18 U.S.C. §§
1956 and 1957, drug trafficking, terrorist-related activities or other money laundering predicate crimes, or any violation of
Anti-Money Laundering Laws, (ii) has been assessed civil penalties under any Anti-Money Laundering Laws, or (iii) has had any
of its funds seized or forfeited in an action under any Anti-Money Laundering Laws.

 

5.7
Embargoed Person.

 

(a)
At all times throughout the term of this Agreement, including after giving effect to any transfers permitted pursuant to the Loan
Documents, (i) none of the funds or assets of Borrower, whether or not used to repay the Loans, shall constitute property of,
or shall be beneficially owned directly or indirectly, by any Person subject to sanctions or trade restrictions under United States
Law (“Embargoed Person” or “Embargoed Persons”) that are identified on (A) the “List
of Specially Designated Nationals and Blocked Persons” maintained by the Office of Foreign Assets Control (“OFAC”),
U.S. Department of the Treasury’s FINCEN list, and/or to Borrower’s best knowledge, as of the date thereof, based
upon reasonable inquiry by Borrower, on any other similar list maintained by OFAC or FINCEN pursuant to any authorizing statute
including, but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading
with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Order or regulation promulgated thereunder, with the result that
the investment in Borrower (whether directly or indirectly), is prohibited by Law, or the Loans made by Lender would be in violation
of Law, or (B) Executive Order 13224 (September 23, 2001) issued by the President of the United States, any related enabling legislation
or any other similar Executive Orders, and (ii) no Embargoed Person shall have any direct interest or, to Borrower’s best
knowledge, indirect interest, of any nature whatsoever in Borrower, with the result that the investment in Borrower (whether directly
or indirectly), is prohibited by Law or any Loan is in violation of Law.

 

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(b)
At all times throughout the term of this Agreement, Borrower is not, nor is any Person controlling, controlled by or under common
control with Borrower, nor any Person having a beneficial interest in, or for whom Borrower, is acting as agent or nominee in
connection with the investment, (a) a country, territory, person or entity named on an OFAC or FINCEN list, or is a Person that
resides in or has a place of business in a country or territory named on such lists; (b) a Person resident in, or organized or
chartered under the Laws of a jurisdiction identified as non-cooperative by the Financial Action Task Force (“FATF”);
or (c) a Person whose funds originate from or will be routed through, an account maintained at a foreign shell bank or “offshore
bank”.

 

(c)
Borrower is not, nor is any Person controlling, controlled by or under common control with Borrower, a “senior political
figure” or an “immediate family” member or “close associate” (as all such terms are defined below)
of a senior foreign political figure within the meaning of the USA PATRIOT ACT (i.e., the Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, H.R. 3162, Public Law 107-56, as may be
amended). For the purposes of this subsection (c), (i) “senior foreign political figure” means a senior official in
the executive, legislative, administrative, military or judicial branches of a foreign government (whether elected or not), a
senior official of a major foreign political party or a senior executive of a foreign government-owned corporation, and such term
also includes any corporation, business or other entity that has been formed by, or for the benefit of, a senior political figure,
(ii) “immediate family” of a senior foreign political figure includes the figure’s parents, siblings, spouse,
children and in-laws, and (iii) “close associate” of a senior foreign political figure means a person who is widely
and publicly known to maintain an unusually close relationship with the senior foreign political figure, and includes a person
who is in a position to conduct substantial domestic and international financial transactions on behalf of the senior foreign
political figure.

 

5.8
Representations Continuing. Each of the representations and warranties set out in this Article V (including those
representations and warranties incorporated by reference from the Merger Agreement and remade herein) is true and correct and
Borrower makes each such representation and warranty and will cause each to be true and correct on and as of each Borrowing Date.

 

Article
VI

COVENANTS

 

Borrower
covenants and agrees that, until the Obligations and all other amounts owing to Lender under the Loan Documents have been paid
in full in cash (or converted in accordance with Article VII) and all Commitments have been terminated, Borrower shall
perform or cause to be performed all of the covenants in this Article VI, unless Lender shall otherwise consent in writing,
which consent Lender may withhold in its sole discretion:

 

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6.1
Financial Reporting. Borrower shall maintain, for itself (and its Subsidiaries), a system of accounting established and
administered in accordance with GAAP, and furnish to Lender:

 

(a)
Within the earlier of (i) 120 days immediately following the close of each Fiscal Year and (ii) the date on which Borrower is
required to file its annual audited financial statements with the SEC, an audited report (without any qualification or exception
as to scope) certified by independent certified public accountants reasonably acceptable to Lender, prepared in accordance with
GAAP, including the consolidated balance sheet of Borrower as of the end of such period, and related consolidated statement of
income or operations, stockholders’ equity and cash flows, setting forth in each case in comparative form the figures for
the previous Fiscal Year. Borrower shall be deemed to have furnished such financial statements to Lender if such financial statements
are available to the public on EDGAR.

 

(b)
Within the earlier of (i) 45 days immediately following the close of each fiscal quarter and (ii) the date on which Borrower is
required to file is unaudited condensed consolidated quarterly financial statements with the SEC, condensed consolidated unaudited
financial statements of Borrower, prepared in accordance with GAAP, including the condensed consolidated balance sheet of Borrower
as of the end of such quarterly period, and the related condensed consolidated statement of income or operations, stockholders’
equity and cash flows, setting forth in each case in comparative form the figures for the corresponding fiscal quarter for the
immediately preceding Fiscal Year. Borrower shall be deemed to have furnished such financial statements to Lender if such financial
statements are available to the public on EDGAR.

 

(c)
Promptly (and, in any event, within three (3) Business Days) after the occurrence of an Event of Default or Default, written notice
describing in detail such Event of Default and the plan and steps Borrower intends to take to cure or otherwise remedy such Event
of Default.

 

(d)
Such other information (including non-financial information) as Lender may from time to time reasonably request.

 

6.2
Use of Proceeds. Borrower shall use the proceeds of the Loans only to provide funding for general corporate purposes; provided,
that, Borrower shall not use or permit any proceeds of any Loan to be used, either directly or indirectly, for (i) the purpose,
whether immediate, incidental or ultimate, of “purchasing or carrying” any “margin stock” (as defined
in Regulation U) or (ii) the repayment of any Indebtedness, other than payments of principal and interest with respect to Indebtedness
outstanding on the date hereof, which payments are required by the Contractual Obligations governing such Indebtedness (as such
Contractual Obligations are in effect on the date hereof).

 

6.3
Notice of Adverse Development. Promptly upon becoming aware of any development, financial or otherwise, which could reasonably
be expected to have a Material Adverse Effect, Borrower shall provide prompt (and, in any event, within three (3) Business Days)
written notice to Lender of the occurrence of such development.

 

6.4
Conduct of Business. Borrower shall (and shall cause each of its Subsidiaries to) carry on and conduct its business in
substantially the same manner and in substantially the same fields of enterprise as it is presently conducted and to do all things
necessary to remain duly incorporated, validly existing and in good standing as a domestic corporation or other business entity,
as applicable, in its jurisdiction of incorporation and maintain all requisite authority to conduct its business in each jurisdiction
in which its business is conducted.

 

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6.5
Taxes. Borrower shall (and shall cause each of its Subsidiaries to) timely file (or join in the filing of) complete and
correct United States federal and applicable foreign, state, provincial and local tax returns required by Law and pay when due
all taxes, assessments and governmental charges and levies upon it or its income, profits or Property, except those which are
being contested in good faith by appropriate proceedings and with respect to which adequate reserves have been set aside in accordance
with GAAP.

 

6.6
Insurance. Borrower shall (and shall cause each of its Subsidiaries to) maintain with financially sound and reputable independent
insurers, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against
by Persons engaged in the same or similar business, of such types and in such amounts as are customarily carried under similar
circumstances by such other Persons, including workers’ compensation insurance, public liability and property and casualty
insurance.

 

6.7
Compliance with Laws. Borrower shall (and shall cause each of its Subsidiaries to) comply in all material respects with
all Laws to which it may be subject.

 

6.8
Maintenance of Properties. Borrower shall (and shall cause each of its Subsidiaries to) maintain, preserve, protect and
keep its tangible Property in good repair, working order and condition, ordinary wear and tear excepted, and make all necessary
and proper repairs, renewals and replacements so that its business carried on in connection therewith may be properly conducted
at all times.

 

6.9
Inspection. Until all Obligations hereunder shall have been satisfied in full, upon reasonable notice and subject to applicable
Law, Borrower shall, and shall cause each of its Subsidiaries to, afford Lender and its Representatives reasonable access to all
of Borrower’s properties, books, contracts, personnel and records, and Borrower shall, and shall cause each of its Subsidiaries
to, furnish promptly to Lender all information concerning Borrower’s business, finances, properties and personnel as Lender
may reasonably request; provided that Borrower may withhold any document or information (a) that is subject to the terms of a
confidentiality agreement with a third party entered into prior to the date of this Agreement or entered into after the date of
this Agreement in the ordinary course of business, and in accordance with Section 5.05 and Section 5.06 of the Merger Agreement
(provided that, in any case, Borrower shall use its reasonable best efforts to obtain the required consent of such third party
to such access or disclosure), (b) the disclosure of which would violate any Law (provided that Borrower shall use its reasonable
best efforts to make appropriate substitute arrangements to permit reasonable disclosure not in violation of any Law) or (c) that
is subject to any attorney-client privilege (provided that Borrower shall use its reasonable best efforts to allow for such access
or disclosure to the maximum extent that does not result in a loss of attorney-client privilege). Subject to the foregoing sentence,
Borrower shall authorize all necessary third parties to grant access to and full disclosure of all information relating to Borrower
and each of its Subsidiaries to Lender and its Representatives. If any material is withheld by Borrower as permitted by the immediately
preceding sentence, then Borrower shall inform Lender as to the general nature of what is being withheld.

 

6.10
Reserved.

 

6.11
Indebtedness. Borrower shall not (nor permit any of its Subsidiaries to) create, incur or suffer to exist any Indebtedness,
except:

 

(a)
Senior Indebtedness with a principal balance not to exceed $12,000,000.00 at any time outstanding.

 

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(b)
Borrower’s Indebtedness to Lender, including, but not limited to, Indebtedness under this Agreement and the Note; 

 

(c)
The Iliad Convertible Note; 

 

(d)
Indebtedness incurred in accordance with, and as permitted by, Section 5.02 of the Merger Agreement; and

 

(e)
Permitted Convertible Debt.

 

6.12
Merger. Except pursuant to and in accordance with the Merger Agreement, Borrower shall not (nor shall it permit any of
its Subsidiaries to) merge, amalgamate or consolidate with or into any other Person or sell, transfer, lease or otherwise dispose
of (in one transaction or a series of transactions) all or substantially all of its assets or liquidate or dissolve.

 

6.13
Sale of Assets. Borrower shall not (nor shall it permit any of its Subsidiaries to) lease, sell or otherwise dispose of
or transfer any Property, to any other Person, except sales or leases of Inventory in the ordinary course of business.

 

6.14
Investments and Acquisitions. Borrower shall not (nor shall it permit any of its Subsidiaries to) make or suffer to exist
any Investments (including without limitation, loans and advances to, and other Investments in, Subsidiaries or any other Person),
or commitments therefor, or to become or remain a partner in any partnership or joint venture, or member in a limited liability
company, or to make any Acquisition of any Person, except:

 

(a)
Short-term obligations of, or fully guaranteed by, the United States of America;

 

(b)
Demand deposit accounts maintained in the ordinary course of business;

 

(c)
Certificates of deposit issued by and time deposits with commercial banks (whether domestic or foreign) having capital and surplus
in excess of $250,000,000; 

 

(d)
Capital contributions to its wholly owned Subsidiaries; and

 

(e)
pursuant to and in accordance with the Merger Agreement.

 

6.15
Liens. Borrower shall not (nor shall it permit any of its Subsidiaries to) create, incur, or suffer to exist any Lien in,
of or on the Property of Borrower (or any such Subsidiary), except the following (“Permitted Liens”):

 

(a)
Liens for taxes, assessments or governmental charges or levies on its Property if the same shall not at the time be delinquent
or thereafter can be paid without penalty;

 

(b)
Liens imposed by Law, such as carriers’, warehousemen’s and mechanics’ liens and other similar liens arising
in the ordinary course of business which secure payment of obligations which are not more than 60 days past due;

 

(c)
Liens arising out of pledges or deposits under worker’s compensation Laws, unemployment insurance, old age pensions, or
other social security or retirement benefits, or similar legislation incurred in the ordinary course of business;

 

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(d)
Liens arising from a judgment rendered or claim filed, not in excess, singly or in the aggregate, of $100,000 against Borrower
which Borrower shall be contesting diligently in good faith by proper legal proceedings;

 

(e)
Liens securing Senior Indebtedness that arise under the Senior Indebtedness Documents;

 

(f)
Easements, building restrictions and such other encumbrances or charges against real property which do not in any material way
interfere with the use thereof by Borrower (or such Subsidiary, as applicable); and

 

(g)
Any extension, renewal or substitution of or for any of the foregoing Liens described in this Section 6.15, provided,
in each case, that (i) the Indebtedness or other obligation or liability secured by the applicable Lien shall not exceed the Indebtedness
or other obligation or liability existing immediately prior to such extension, renewal or substitution and (ii) the Lien securing
such Indebtedness or other obligation or liability shall be limited to the Property which, immediately prior to such extension,
renewal or substitution, secured such Indebtedness or other obligation or liability, and improvements on or additions to such
Property.

 

6.16
Affiliates. Borrower shall not (nor shall it permit any of its Subsidiaries to) sell, lease or otherwise transfer any Property
to, or purchase, lease or otherwise acquire any Property from, or otherwise enter into any transaction (including, without limitation,
the purchase or sale of any service) with, or make any payment or transfer to any Affiliate, except in the ordinary course of
business pursuant to the reasonable requirements of Borrower’s business and upon fair and reasonable terms no less favorable
to Borrower than Borrower would obtain in a comparable arms-length transaction from unrelated third parties, and fully disclosed
in writing to Lender prior to any such transaction.

 

6.17
Fiscal Year. Borrower shall not (nor shall it permit any of its Subsidiaries to) change its Fiscal Year.

 

6.18
Limitation on the Creation of Subsidiaries. Notwithstanding anything to the contrary contained in this Agreement, Borrower
shall not (nor shall it permit any of its Subsidiaries to) establish, create or acquire any Subsidiary or all or substantially
all of the assets of another Person or a line of business after the date of this Agreement unless expressly consented to in writing
by Lender.

 

6.19
Subsidiary Dividends. No Subsidiary of Borrower shall in any manner either directly or indirectly incur or be bound by
any restrictions on dividends from such Subsidiary to Borrower, other than those restrictions required by applicable Law.

 

6.20
Restricted Payments. Borrower shall not (nor shall it permit any of its Subsidiaries to) directly or indirectly declare,
order, pay, make or set apart any sum for any Restricted Payment, except that any directly or indirectly owned Subsidiary of Borrower
may make Restricted Payments to the Person that directly owns the equity of such Subsidiary.

 

6.21
Borrower Compliance with Anti-Money Laundering Laws. Borrower has taken, and agrees that it shall continue to take, reasonable
measures appropriate to the circumstances (in any event as required by Law), to ensure that each shareholder of Borrower is and
shall be in compliance with all current and future Anti-Money Laundering Laws and laws, regulations and government guidance, to
the extent such laws, regulations and guidance apply to such shareholder, for the prevention of terrorism, terrorist financing
and drug trafficking.

 

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6.22
Amendments to Agreements. Borrower shall not (nor shall it permit any of its Subsidiaries to) amend, supplement, or otherwise
modify or consent to any waiver of any term or provision of any of (i) its organizational or charter documents (except as permitted
by the Merger Agreement) or (ii) any material contract or agreement (except (x) as permitted by the Merger Agreement or (y) any
such modifications that are not materially adverse to Lender and do not in any way limit, impair or adversely affect Borrower’s
ability to pay and otherwise satisfy its Obligations under the Loan Documents) except with the prior written consent of Lender,
as determined by Lender in its sole discretion. Borrower shall deliver to Lender all such modifications (other than those which
are omitted in the previous sentence) within ten (10) days prior to the intended effective date of such modification.

 

6.23
Repayment of Indebtedness. Borrower shall not (nor shall permit any of its Subsidiaries to) pay (or purchase, redeem, retire
or otherwise acquire for value) any amounts on any Indebtedness (other than the Obligations) except, with respect to any Indebtedness,
regularly scheduled payments of principal, interest or fees required in accordance with the terms governing such Indebtedness.

 

6.24
Further Assurances. Borrower shall, from time to time, execute such documents, agreements and reports as Lender at any
time may request to evidence or otherwise implement the provisions and the transactions contemplated by this Agreement and the
other Loan Documents.

 

Article
VII

CONVERSION OF Loans

 

7.1
Optional Conversion Upon a Specified Event of Default. If a Specified Event of Default shall have occurred, then, at any
time thereafter, Lender may deliver to Borrower written notice of Lender’s election to convert (the “Conversion
Notice”) all, but not less than all, of the Loans (collectively, the “Converted Loan”), together
with all interest thereon, into shares of Borrower Common Stock (“Conversion Shares”), in which case the entire
aggregate principal amount of the Converted Loan, together with all accrued and unpaid interest thereon, shall convert into a
number of Conversion Shares equal to the aggregate principal amount of such Converted Loan, together with all accrued and unpaid
interest thereon, divided by $0.606. The date on which Lender delivers a Conversion Notice to Borrower is the “Conversion
Date”. The Conversion Notice shall specify: (i) the aggregate principal amount of and the aggregate amount of accrued
and unpaid interest on the Converted Loan; (ii) the number of Conversion Shares issuable in respect of such Conversion Notice;
(iii) the name of the Person to whom the Conversion Shares shall be issued (if other than Lender); and (iv) the physical address
or electronic delivery instructions to which Borrower shall deliver such Conversion Shares.

 

7.2
No Mandatory Conversion. No Loan or any portion thereof shall be subject to any mandatory conversion into Conversion Shares,
nor may Borrower cause or otherwise require any such conversion.

 

7.3
Method of Conversion. Lender may exercise the conversion rights contained in this Article VII by delivering a duly
executed PDF copy of a Conversion Notice submitted by electronic delivery to the email address for Borrower specified pursuant
to Section 10.12. No ink-original Conversion Notice shall be required. Lender shall not be required to physically surrender
the Note to Borrower in connection with any Conversion Notice. Lender shall, upon Borrower’s request, surrender the Note
to Borrower on or prior to the fifth (5th) Business Day immediately following the date on which Borrower shall have
delivered the Conversion Shares in accordance with the Conversion Notice. Borrower shall pay an applicable transfer Tax in respect
of any conversion of a Loan pursuant to this Article VII.

 

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7.4
Issuance of Conversion Shares. Upon Lender’s delivery to Borrower of the Conversion Notice, Borrower shall promptly
issue and cause to be delivered to Lender a certificate for the Conversion Shares issuable in respect of such Conversion Notice
not later than the fifth (5th) Trading Day immediately following the Conversion Date (the “Share Delivery
Date”). The Loans shall be deemed to have been converted as of the close of business on the Conversion Date, and upon
delivery of the Conversion Notice, Lender (or its designee as set forth in the Conversion Notice) shall be deemed for all corporate
purposes to have become the holder of record of the Conversion Shares as of the Conversion Date. On or before the Share Delivery
Date, Borrower shall issue and dispatch by overnight courier to the address as specified in the Conversion Notice, a certificate,
registered in Borrower’s share register in the name of Lender or its designee, for the number of Conversion Shares to which
Lender is entitled pursuant to such conversion; provided, that, (i) if as of the Conversion Date, there is an effective
registration statement under the Securities Act covering the resale of the Conversion Shares subject to such conversion or (ii)
if the Conversion Date on or after the six-month anniversary of the date of issuance of the Loans subject to the Conversion Notice,
and at the time of such conversion, Borrower satisfies the current public information requirements contained in Rule 144(c) promulgated
under the Securities Act, then, on or prior to the Share Delivery Date, Borrower shall (X) provided that Borrower’s transfer
agent is participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program (the
“FAST Program”), upon the request of Lender, credit such aggregate number of Conversion Shares to which Lender
is entitled pursuant to such conversion to Lender’s or its designee’s balance account with DTC through its Deposit/Withdrawal
at Custodian system, or (Y) if the transfer agent is not participating in the FAST Program, issue and dispatch by overnight courier
to the address as specified in the Conversion Notice, a certificate, registered in Borrower’s share register in the name
of Lender or its designee, for the number of Conversion Shares to which Lender is entitled pursuant to such conversion, without
the imposition of any restrictive legend. Borrower agrees to maintain a transfer agent that is a participant in the FAST Program
so long as any Obligations remain outstanding.

 

7.5
Reserved Borrower Common Stock. Borrower shall at all times keep authorized and approved under its Certificate of Incorporation,
as may be amended from time to time, solely for the purpose of effecting the conversion of Loans pursuant to this Agreement, such
number of shares of Borrower Common Stock as may become issuable upon the conversion of Loans hereunder, and shall take all such
corporate and other action as may be required from time to time in order that it may validly and legally issue the Borrower Common
Stock upon such conversion.

 

Article
VIII

Events of DEFAULT

 

An
“Event of Default” means the occurrence of any one or more of the following events:

 

8.1
Any representation or warranty made by or on behalf of Borrower to Lender, under or in connection with this Agreement, any Loan
or any certificate or information delivered in connection with this Agreement or any other Loan Document shall be false in any
material respect on the date as of which made.

 

8.2
Borrower shall fail to pay (x) any principal of any Loan when the same shall become due and payable, whether at the due date thereof
(including due to the acceleration thereof) or at a date fixed for prepayment thereof or otherwise or (y) any interest on any
Loan, any fee or any other amount payable under this Agreement or under any other Loan Document or with respect to the Obligations.

 

8.3
The breach or failure to perform or observe by Borrower of any of the terms or provisions of the covenants set forth in Article
VI.

 

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8.4
The breach or failure to perform or observe by Borrower (other than a breach which constitutes an Event of Default under Section
8.1, Section 8.2 or Section 8.3) of any of the terms or provisions of this Agreement or any other Loan Document
which is not remedied within thirty (30) days after the earlier of (i) written notice from Lender and (ii) actual knowledge by
Borrower of such breach or failure.

 

8.5
Failure of Borrower or any of its Subsidiaries to pay when due the Senior Indebtedness or any other Indebtedness (other than the
Obligations) in excess of, $50,000 singly or $100,000 in the aggregate (any such Indebtedness being herein defined as “Material
Indebtedness”); or the default by Borrower or any of its Subsidiaries in the performance of any term, provision or condition
contained in any agreement under which any such Material Indebtedness was created or is governed, or any other event shall occur
or condition exist, the effect of which is to cause (or permit the holder or holders of such Material Indebtedness to cause, and
such holder or holders in fact cause) such Material Indebtedness to become due prior to its stated maturity or Borrower or any
of its Subsidiaries shall not pay, or admit in writing its inability to pay, its debts generally as they become due.

 

8.6
Borrower or any of its Subsidiaries shall (a) have an order for relief entered with respect to it under the federal bankruptcy
Laws or the Laws of any other jurisdiction relating to bankruptcy, insolvency, reorganization or relief of debtors as now or hereafter
in effect that is not discharged within 30 days, (b) make an assignment for the benefit of creditors, (c) apply for, seek, consent
to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any
of its Property, (d) institute any proceeding seeking an order for relief under the Federal bankruptcy Laws or the Laws of any
other jurisdiction relating to bankruptcy, insolvency, reorganization or relief of debtors as now or hereafter in effect or seeking
to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment
or composition of it or its debts under any Law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail
to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (e) take any corporate
action to authorize or effect any of the foregoing actions set forth in this Section 8.6 or (f) fail to contest in good
faith any appointment or proceeding described in Section 8.7.

 

8.7
Without the application, approval or consent of Borrower, a receiver, trustee, examiner, liquidator or similar official shall
be appointed for Borrower or any of its Subsidiaries or any of its/their Property, or a proceeding described in clause (d) of
Section 8.6 shall be instituted against Borrower or any of its Subsidiaries and such appointment continues undischarged
or such proceeding continues undismissed or unstayed for a period of 60 consecutive days.

 

8.8
Any court, government or governmental agency shall condemn, seize or otherwise appropriate, or take custody or control of all
or any portion of the Property of Borrower or any of its Subsidiaries.

 

8.9
Borrower or any of its Subsidiaries fail to pay, bond or otherwise discharge within thirty (30) days any judgment or order for
the payment of money in excess of singly or in the aggregate, $200,000, which is not stayed on appeal or otherwise being appropriately
contested in good faith and as to which no enforcement actions have been commenced.

 

8.10
Borrower or any of its Subsidiaries shall be the subject of any proceeding pertaining to the release by Borrower, or any other
Person of any toxic or hazardous waste or substance into the environment, or any violation of any federal, state, provincial or
local environmental, health or safety Law or regulation, which, in either case, could reasonably be expected to have a Material
Adverse Effect.

 

    	20

     

    

 

8.11
Other than as contemplated under the Merger Agreement, any Change of Control shall occur.

 

8.12
Any material provision of any Loan Document shall for any reason cease to be valid and binding on or enforceable against Borrower
or any party thereto, or Borrower shall so state in writing or bring an action to limit its obligations or liabilities thereunder.

 

8.13
The Merger Agreement shall be terminated by any party pursuant to Section 8.01 thereof.

 

8.14
There shall have occurred a Material Adverse Effect.

 

Article
IX

ACCELERATION AND REMEDIES

 

9.1
Acceleration. If any Event of Default described in Section 8.6 or Section 8.7 occurs with respect to Borrower
or any of its Subsidiaries, the Commitment and the obligation of Lender to make any Loans hereunder shall automatically terminate
and the Obligations, including, without limitation, all accrued and unpaid interest, shall immediately become due and payable
without any election or action on the part of Lender. If any Specified Event of Default occurs (other than an Event of Default
described in Section 8.6 or Section 8.7), Lender may terminate or suspend its obligation to make any Loans hereunder
and/or declare the Obligations to be due and payable, whereupon the Obligations shall become immediately due and payable without
presentment, demand, protest or notice of any kind, all of which Borrower hereby expressly waives.

 

9.2
Remedies. Without derogating Section 9.1, if an Event of Default occurs, Lender may (x) immediately if any Event
of Default described in Section 8.6 or Section 8.7 occurs or (y) after 10 days have elapsed since the occurrence
of any other Event of Default, in its discretion, exercise all rights and remedies available to Lender under the Loan Documents
or applicable Law.

 

9.3
Preservation of Rights. No delay or omission of Lender, to exercise any right under any Loan Document shall impair such
right or be construed to be a waiver of any Event of Default or an acquiescence therein, and the making of a Loan notwithstanding
the existence of an Event of Default or the inability of Borrower to satisfy the conditions precedent to such Loan shall not constitute
any waiver or acquiescence. Any single or partial exercise of any such right shall not preclude other or further exercise thereof
or the exercise of any other right, and no waiver, amendment or other variation of the terms, conditions or provisions of the
Loan Documents whatsoever shall be valid unless in writing signed by Lender, and then only to the extent in such writing specifically
set forth. All remedies contained in the Loan Documents or by Law afforded shall be cumulative and all shall be available to Lender
until the Obligations have been paid in full. Borrower hereby expressly waives, to the fullest extent permitted by applicable
Law, any and all notices, advertisements, hearings or process of law in connection with Lender’s exercise of any of its
rights and remedies upon an Event of Default.

 

Article
X

GENERAL PROVISIONS

 

10.1
Survival of Representations. All representations and warranties of Borrower contained in this Agreement shall survive the
execution and delivery of this Agreement and the Note and the making of the Loans herein contemplated.

 

    	21

     

    

 

10.2
Governmental Regulation. Anything contained in this Agreement to the contrary notwithstanding, Lender shall not be obligated
to extend credit (including the making of any Loans) to Borrower in violation of any limitation or prohibition provided by any
applicable statute or regulation.

 

10.3
Taxes. Any Taxes or other similar assessments or charges made by any governmental or revenue authority in respect of the
Loan Documents (other than Taxes imposed on Lender’s income or revenue) shall be paid by Borrower, together with interest
and penalties, if any. All payments by Borrower to or for the account of Lender hereunder or under the Note shall be made free
and clear of and without deduction for any and all Taxes.

 

10.4
Headings. Section headings in the Loan Documents are for convenience of reference only, and shall not govern the interpretation
of any of the provisions of the Loan Documents.

 

10.5
Entire Agreement. The Loan Documents embody the entire agreement and understanding between Borrower and Lender and supersede
all prior agreements and understandings between Borrower, and Lender relating to the subject matter thereof.

 

10.6
Benefits of this Agreement. This Agreement shall not be construed so as to confer any right or benefit upon any Person
other than the parties to this Agreement and their respective successors and permitted assigns.

 

10.7
Costs and Expenses; Indemnification.

 

(a)
Borrower shall pay or, as applicable, reimburse Lender for all reasonable out-of-pocket fees, costs and expenses (including fees,
charges and disbursements of counsel) paid or obligations incurred by Lender, in connection with, arising out of, or related to:
(i) Lender attempting to or enforcing any of Lender’s rights or remedies against Borrower or any guarantor of Borrower’s
Obligations; (ii) any refinancing or restructuring of the credit arrangements provided under the Loan Documents in the nature
of a “work-out” or in any insolvency or bankruptcy proceeding; (iii) commencing, defending or intervening in any litigation
or in filing a petition, complaint, answer, motion or other pleadings in any legal proceeding related to Borrower and related
to or arising out of the transactions contemplated by the Loan Document, and (iv) taking any other action in or with respect to
any suit or proceeding (whether in bankruptcy or otherwise) with respect to any of the foregoing. Any and all such fees, costs
and expenses are part of the Obligations, payable upon receipt by Borrower of the invoices received by Lender therefor.

 

(b)
Borrower further agrees to indemnify Lender and its directors, officers, agents, attorneys, affiliates, advisors, partners and
employees against all losses, claims, damages, penalties, judgments, liabilities and expenses (including, without limitation,
all expenses of litigation or preparation therefor whether or not Lender is a party thereto) which any of them may pay or incur
arising out of or relating to this Agreement, the other Loan Documents, the transactions contemplated hereby or thereby or the
direct or indirect application or proposed application of the proceeds of any Loan, except to the extent that they have resulted
from the gross negligence or willful misconduct of the party seeking indemnification.

 

10.8
Accounting. Except as provided to the contrary herein, all accounting terms used herein shall be interpreted and all accounting
determinations hereunder shall be made in accordance with GAAP, consistently applied for all periods presented.

 

10.9
Severability of Provisions. Any provision in any Loan Document that is held to be inoperative, unenforceable, or invalid
in any jurisdiction shall, as to that jurisdiction, be inoperative, unenforceable, or invalid without affecting the remaining
provisions in that jurisdiction or the operation, enforceability, or validity of that provision in any other jurisdiction, and
to this end the provisions of all Loan Documents are declared to be severable.

 

    	22

     

    

 

10.10
Nonliability of Lender. The relationship between Borrower and Lender shall be solely that of borrower and lender. Lender
shall not have any fiduciary responsibilities to Borrower. Lender undertakes no responsibility to Borrower to review or inform
Borrower of any matter in connection with any phase of Borrower’s business or operations. Borrower agrees that Lender and
each of its Affiliates, agents, attorneys partners, directors, officers, employees and advisors shall have no liability to Borrower
(whether sounding in tort, contract or otherwise) for losses suffered by Borrower in connection with, arising out of, or in any
way related to, the transactions contemplated and the relationship established by the Loan Documents, or any act, omission or
event occurring in connection therewith, unless it is determined by a court of competent jurisdiction in a final and non-appealable
order that such losses resulted from the gross negligence or willful misconduct of the party from which recovery is sought.

 

10.11
Amendment and Waiver. No amendment or waiver of any provision of this Agreement or any other Loan Document shall be valid
and binding unless it is in writing and signed, in the case of an amendment, by Lender and Borrower, or in the case of a waiver,
by the party or parties against whom the waiver is to be effective. No waiver by Lender of any Default, Event of Default, breach
or violation of, or inaccuracy in, any representation, warranty or covenant hereunder, whether intentional or not, will be deemed
to extend to any prior or subsequent Default, Event of Default breach, violation, default of, or inaccuracy in, any such representation,
warranty or covenant hereunder or affect in any way any of Lender’s rights arising by virtue of any prior or subsequent
such occurrence. Nothing contained in this Section 10.11 shall limit or modify Lender’s rights contained in Article
IX.

 

10.12
Notices. All notices, requests and other communications to any party hereunder shall be in writing (including email transmission)
and shall be given to such party at such party’s address, email address set forth on such party’s signature page hereto.
Each such notice, request or other communication shall be effective (i) if given by email transmission, when sent (provided that
such sent e-mail is kept on file (whether electronically or otherwise) by the sending party and the sending party does not receive
an automatically generated message from the recipient’s e-mail server that such e-mail was not or could not be delivered
to such recipient), (ii) if given by mail, three (3) Business Days after such communication is deposited in the mails with first
class postage prepaid, addressed as aforesaid, (iii) if given by overnight delivery by a national recognized courier service,
on the Business Day after being deposited with such courier service or (iv) if given by any other means, when delivered at the
address specified in this Section 10.12; provided that notices to Lender under Article II shall not be effective
until received. Notwithstanding the foregoing, with respect to any electronic notice provided on a Saturday or Sunday, such notice
will be effective as of the next Business Day. Lender or Borrower may, in its/their discretion, agree to accept notices and other
communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval
of such procedures may be limited to particular notices or communications.

 

10.13
Change of Address. Borrower and Lender may each change the address for service of notice upon it by a notice in writing
to the other party hereto in accordance with Section 10.12.

 

10.14
Counterparts. This Agreement may be executed in any number of counterparts and by the different parties hereto on separate
counterparts and each such counterpart shall be deemed to be an original, but all such counterparts shall together constitute
but one and the same Agreement. Receipt of an executed signature page to this Agreement by facsimile or other electronic transmission,
including by email attachment, shall constitute effective delivery thereof. Electronic records of executed Loan Documents maintained
by Lender shall deemed to be originals thereof.

 

    	23

     

    

 

10.15
Waiver of Suretyship and other Defenses. The obligations of Borrower under this Agreement and the Loan Documents shall
be absolute and unconditional and shall remain in full force and effect until all Obligations shall have been paid in full in
cash and, until such payment has been made, shall not be discharged, affected, modified or impaired on the happening from time
to time of any event, including, without limitation, any of the following, whether or not with notice to or the consent of any
of the undersigned: (a) the waiver, compromise, settlement, release, termination or amendment (including, without limitation,
any extension or postponement of the time for payment or performance or renewal or refinancing) of any or all of the obligations
or agreements of any of the undersigned under this Agreement or any other Loan Documents; (b) the failure to give notice to Borrower
of the occurrence of an Event of Default under the terms and provisions of this Agreement or any other Loan Documents; (c) the
release of any Person primarily or secondarily liable for all or any part of the Obligations in connection with any voluntary
or involuntary liquidation, dissolution, receivership, insolvency, bankruptcy, assignment for the benefit of creditors or similar
event or proceeding affecting any or all of the undersigned or any other person or entity who, or any of whose property, shall
at the time in question be obligated in respect of the obligations or any part thereof; or (d) to the extent permitted by Law,
any other event, occurrence, action or circumstance that would, in the absence of this clause, result in the release or discharge
of any or all of Borrower from the performance or observance of any obligation, covenant or agreement contained in this Agreement
or any other Loan Documents.

 

10.16
GOVERNING LAW. This Agreement the other Loan Documents and any dispute, controversy or claim arising out of, relating to
or in connection with this Agreement and the other Loan Documents, the negotiation, execution, existence, validity, enforceability
or performance hereof and thereof, or for the breach or alleged breach hereof or thereof (whether in contract, in tort or otherwise)
shall be governed by and construed and enforced in accordance with the Laws of THE STATE OF DELAWARE, UNITED STATES OF AMERICA,
WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICT OF LAW PROVISION OR RULE (WHETHER OF THE STATE OF DELAWARE OR OTHERWISE)
THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION.

 

10.17
CONSENT TO JURISDICTION. Each of the parties hereto hereby (a) agrees that any claim, suit, action or other proceeding,
directly or indirectly, arising out of, under or relating to this Agreement or the other Loan Documents, will be heard and determined
in the Chancery Court of the State of Delaware (and each agrees that no such claim, action, suit or other proceeding relating
to this Agreement or the other Loan Documents will be brought by it or any of its Affiliates except in such court), subject to
any appeal, provided that if jurisdiction is not then available in the Chancery Court of the State of Delaware, then any such
claim, suit, action or other proceeding may be brought in any Delaware state court or any federal court located in the State of
Delaware and (b) irrevocably and unconditionally submits to the exclusive jurisdiction of any such court in any such claim, suit,
action or other proceeding and irrevocably and unconditionally waives the defense of an inconvenient forum to the maintenance
of any such claim, suit, action or other proceeding. Each of the parties hereto further agrees that, to the fullest extent permitted
by applicable Law, service of any process, summons, notice or document by U.S. registered mail to such Person’s respective
address set forth in Section 10.12 will be effective service of process for any claim, action, suit or other proceeding in Delaware
with respect to any matters to which it has submitted to jurisdiction as set forth above in the immediately preceding sentence.
The parties hereto hereby agree that a final judgment in any such claim, suit, action or other proceeding will be conclusive,
subject to any appeal, and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable
Law.

 

10.18
WAIVER OF JURY TRIAL. 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 SUIT, ACTION OR OTHER PROCEEDING, DIRECTLY OR INDIRECTLY, ARISING OUT OF, UNDER
OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, THEIR NEGOTIATION, OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR
THEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SUIT OR 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 SECTION 10.18.

 

    	24

     

    

 

10.19
WAIVER OF DEFENSES. BORROWER WAIVES EVERY PRESENT AND FUTURE DEFENSE, CAUSE OF ACTION, COUNTERCLAIM OR SETOFF WHICH BORROWER
MAY NOW HAVE OR HEREAFTER MAY HAVE TO ANY ACTION BY LENDER IN ENFORCING THIS AGREEMENT, EXCEPT FOR THE DEFENSE OF PAYMENT. PROVIDED
LENDER ACTS IN GOOD FAITH, BORROWER RATIFIES AND CONFIRMS WHATEVER LENDER MAY DO PURSUANT TO THE TERMS OF THIS AGREEMENT. THIS
PROVISION IS A MATERIAL INDUCEMENT FOR LENDER GRANTING ANY FINANCIAL ACCOMMODATION TO BORROWER.

 

10.20
Release of Claims Against Lender. In consideration of Lender making the Loans, Borrower does each hereby release and discharge
Lender of and from any and all claims, harm, injury, and damage of any and every kind, known or unknown, legal or equitable, arising
out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby or thereby (other than the Merger Agreement), the performance by the parties hereto
of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby
or (ii) any Loan or the use or proposed use of the proceeds therefrom. Borrower confirms to Lender that it has reviewed the effect
of this release with competent legal counsel of its choice, or has been afforded the opportunity to do so, prior to execution
of this Agreement and the Loan Documents and acknowledges and agrees that Lender is relying upon this release in extending the
Loans to Borrower.

 

10.21
Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any obligor or the transfer
to Lender of any property should for any reason subsequently be declared to be void or voidable under any state, provincial or
federal Law relating to creditors’ rights, including provisions of the Bankruptcy Code relating to fraudulent conveyances,
preferences, or other voidable or recoverable payments of money or transfers of property (collectively, a “Voidable Transfer”),
and if Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable
advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that Lender is required or elects to repay
or restore, and as to all reasonable costs, expenses, and attorneys’ fees of Lender, the Obligations shall automatically
shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

 

10.22
Customer Identification - USA Patriot Act Notice. Lender hereby notifies Borrower that pursuant to the requirements of
the Patriot Act, Lender may be required to obtain, verify and record certain information and documentation that identifies Borrower,
which information includes the name and address of Borrower and such other information that will allow Lender to identify Borrower
in accordance with the Patriot Act.

 

10.23
Inconsistencies. All provisions of the Loan Documents shall be construed as being supplementary and complementary to, and
cumulative with, the provisions of the other Loan Documents. However, if there should be an irreconcilable inconsistency between
provisions of the Loan Documents, the terms and provisions of this Agreement shall control over any irreconcilably inconsistent
term of any other Loan Document except for the Note, whose provisions shall govern and control over any irreconcilably inconsistent
provision of this Agreement or any other Loan Document.

 

    	25

     

    

 

10.24
Successors and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby, except that (i) Borrower may not assign or otherwise transfer
any of its rights or obligations hereunder without the prior written consent of Lender, which consent may be withheld in Lender’s
sole discretion (and any attempted assignment or transfer by Borrower without such consent shall be null and void) and (ii) Lender
may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of Borrower,
which consent may be withheld in Borrower’s sole discretion (and any attempted assignment or transfer by Lender without
such consent shall be null and void); provided, that, if a Specified Event of Default shall have occurred, then
Lender may assign or otherwise transfer any or all of its rights or obligations hereunder without Borrower’s consent.

 

10.25
Subordination. THIS AGREEMENT AND THE INDEBTEDNESS EVIDENCED HEREBY ARE SUBORDINATE IN THE MANNER AND TO THE EXTENT SET
FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT (THE “SVB SUBORDINATION AGREEMENT”) DATED AS OF THE DATE HEREOF
BY AND AMONG LENDER, BORROWER, SILICON VALLEY BANK AND THE OTHER PARTIES THERETO TO THE SENIOR DEBT (AS DEFINED IN THE SVB SUBORDINATION
AGREEMENT). THIS AGREEMENT AND THE INDEBTEDNESS EVIDENCED HEREBY ARE ALSO SUBORDINATE IN THE MANNER AND TO THE EXTENT SET FORTH
IN THAT CERTAIN SUBORDINATION AGREEMENT (THE “PFG SUBORDINATION AGREEMENT,” AND TOGETHER WITH THE SVB SUBORDINATION
AGREEMENT, THE “SUBORDINATION AGREEMENTS”) DATED AS OF THE DATE HEREOF BY AND AMONG LENDER, BORROWER, PARTNERS
FOR GROWTH IV, L.P. AND THE OTHER PARTIES THERETO TO THE SENIOR DEBT (AS DEFINED IN THE PFG SUBORDINATION AGREEMENT).

 

[signature
pages follow]

 

    	26

     

    

 

IN
WITNESS WHEREOF, Borrower and Lender have executed this Agreement as of the date first above written.

 

	 	BORROWER:
	 	 	 
	 	cancer
    genetics, inc.
	 	 	 
	 	By:	/s/
    John A. Roberts                                
	 	Name: 	John
    A. Roberts
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	Address
        for Notices:

         

        201
        Route 17 North, 2nd Floor

        Rutherford,
        NJ 07070, USA

        Attention:
        John A. Roberts, President & CEO

        Facsimile:
        (201) 528-9201

        Email:
        jay.roberts@cgix.com

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

         

        Lowenstein
        Sandler LLP

        One
        Lowenstein Drive

        Roseland,
        NJ 07068

        Attn:
        Alan Wovsaniker, Esq.

        Facsimile:
        (973) 597-2565

        Email
        : awovsaniker@lowenstein.com

 

Signature
Page to Credit Agreement

 

    	 

     

    

 

	 	LENDER:
	 	 	 
	 	NOVELLUSDX, LTD.
	 	 	 
	 	By:	/s/
    Haim Gil-Ad
	 	Name: 	Haim
    Gil-Ad
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	Address for Notices:

 

Jerusalem Bio-Park

Hadassah Ein Kerem campus, 1st Kiryat Hadassah

Minrav Building

Jerusalem, Israel, 9112001

Attention: Haim Gil-Ad, CEO

E-mail: haim@novellusdx.com

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

 

Greenberg Traurig, P.A.

333 Southeast 2nd Avenue

Suite 4400

Miami, FL 33131

	 	Attn:	Robert
    L. Grossman
	 	 	Drew
    M. Altman
	 	Telephone: (305) 579-0756
	 	Email:	grossmanb@gtlaw.com
	 	 	altmand@gtlaw.com

 

Signature
Page to Credit Agreement

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