Document:

Exhibit
10.1

 

LICENSE
AGREEMENT

BETWEEN

ONCOTELIC
THERAPEUTICS, INC.

AND

AUTOTELIC
INC.

 

September
30, 2021

 

    	 

    	 

    

 

TABLE
OF CONTENTS

 

	 	 	Page
    No 
	ARTICLE
1. DEFINITIONS	 	2
	ARTICLE
2. LICENSES	 	4
	ARTICLE
    3. MILESONE PAYMENTS	 	4
	ARTICLE
4. PAYMENTS	 	5
	ARTICLE
    5. TRANSFER OF KNOW-HOW; TECHNICAL ASSISTANCE	 	5
	ARTICLE
6. PROGRAM PURCHASE OPTION	 	6
	ARTICLE
    7. SAFETY INFORMATION EXCHANGE	 	6
	ARTICLE
    8. PATENT PROSECUTION	 	6
	ARTICLE
9. INFRINGEMENT	 	6
	ARTICLE
10. WARRANTIES AND REPRESENTATIONS	 	7
	ARTICLE
    11. INDEMNIFICATION	 	9
	ARTICLE
    12. CONFIDENTIALITY	 	9
	ARTICLE
    13. TERM AND TERMINATION	 	10
	ARTICLE
14. ASSIGNMENT	 	12
	ARTICLE
    15. DISPUTE RESOLUTION AND ARBITRATION	 	12
	ARTICLE
    16. GENERAL PROVISIONS	 	12
	SIGNATURES	 	15
	EXHIBIT
A	 	16
	EXHIBIT
B	 	17

 

    	1

     

    

 

THIS
LICENSE AGREENMENT (this “Agreement”) is made and entered into as of 30th September, 2021 (“Effective Date”),
by and between ONCOTELIC THERAPEUTICS, INC., with its principal offices at 29397 Agoura Road, Suite 107, Agoura Hills, CA 91301
(“Oncotelic”), and AUTOTELIC INC., with principal offices located at 17128 Colima Road, #518, Hacienda Heights, CA
91745 ( “Autotelic”).

 

WITNESSETH:

 

WHEREAS,
Autotelic either owns or controls certain patents and patent applications relating to intra-nasal drug and delivery system related to
nasal apomorphine (the “Product”) as listed in Exhibit A hereto, and has the right to grant licenses for use and commercialization
under such patents and patent applications to Oncotelic;

 

WHEREAS,
Autotelic owns or controls certain technology and know-how relating to the Product and has the right to grant licenses in respect of
such technology and know-how;

 

WHEREAS,
Oncotelic desires to obtain an exclusive worldwide license for use and commercialization of the Product under such patents, patent applications,
technology and know-how; and

 

WHEREAS,
Autotelic desires to grant to Oncotelic an exclusive worldwide license to make, have made, use, offer for sale, import and sell the commercial
products and/or further license the Product under all of the aforementioned patents, patent applications, technical information and know-how
relating to the Product either by itself or through a third party subject to the terms and conditions of this Agreement.

 

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

 

ARTICLE 1. DEFINITIONS

 

The
following terms as used herein, when written with an initial capital letter, shall have the meanings ascribed to them below:

 

1.1.
“Affiliate” shall mean, with respect to a party to this Agreement, any corporation or non-corporate business entity which
controls, is controlled by, or is under common control with such party. A corporation or non-corporate business entity shall be regarded
as in control of another corporation if it owns, or directly or indirectly controls, at least fifty (50%) percent of the voting stock
of the other corporation, or (a) in the absence of the ownership of at least fifty (50%) percent of the voting stock of a corporation
or (b) in the case of a non-corporate business entity, or non-profit corporation, if it possesses, directly or indirectly, the power
to direct or cause the direction of the management and policies of such corporation or non-corporate business entity, as applicable.

 

1.2.
“Agreement” shall mean this Agreement, including all Exhibits attached to this Agreement.

 

1.3.
“Autotelic Know-How” shall mean all inventions, discoveries, trade secrets, information, experience, data, formulas, procedures
and results which are useful for the development, manufacturing and registration of the Compounds or the Licensed Products for the Indications
which are rightfully owned by Autotelic as of the Effective Date, or which are developed or acquired by Autotelic during the term of
this Agreement including, but not limited to, all manufacturing and synthesis know-how.

 

1.4.
“Autotelic Patents” shall mean all patents and patent applications having patent claims which are necessary or useful for
the development, registration, manufacturing, using or selling of the Compounds or Licensed Products for the Indications , which are
owned or controlled by Autotelic as of the Effective Date, or which are developed or acquired by Autotelic during the term of this Agreement,
including any addition, continuation, continuation-in-part or division thereof or any substitute application thereof; any patent issued
with respect to such patent application, any reissue, extension or patent term extension of any such patent, and any confirmation patent
or registration patent or patent of addition based on any such patent; and foreign patent or inventor’s certificate with regard
thereto. Autotelic Patents shall include those listed in Exhibit A attached hereto.

 

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1.5.
“Bulk Drug Substance” shall mean the Compounds in bulk form which, if appropriately formulated and finished, would be suitable
for preclinical or clinical use or commercial use.

 

1.6.
“Bulk Formulation” shall mean the Licensed Product in capsule form or tablet form.

 

1.7.
“CMO” shall mean contract manufacturing organization.

 

1.8.
“Compounds” shall mean the compound known as the Product, with the chemical name of apomorphine, including any salts and
esters thereof.

 

1.9.
“CRO” shall mean contract research organization.

 

1.10.
“CTA” shall mean Clinical Trial Authorization under the EMEA or the FDA as defined below.

 

1.11.
“DMF” shall mean drug master file

 

1.12.
“Dollars” shall mean United States dollars.

 

1.13.
“Effective Date” shall mean the date written above.

 

1.14.
“EMEA” shall mean the European Medicines Agency or any successor entity thereof.

 

1.15.
“FDA” shall mean the Food and Drug Administration or any successor entity thereof.

 

1.16.
“Field” shall mean all therapeutic applications and uses.

 

1.17.
“Finished Product” shall mean a Licensed Product, of the Product, in packaged product form suitable for distribution to customers.

 

1.18.
“Initial Fund Raising Event” shall mean raising initial funds equal to or higher than US $20 million for the development
of the Product.

 

1.18.
“IND” shall mean an Investigational New Drug Application filed with the FDA or its equivalent filed with any other regulatory
authority worldwide.

 

1.19.
“Indemnitees” shall mean (a) in the case of the indemnity set forth in Section 14.1, Oncotelic, its Affiliates, officers
and employees of any of the foregoing; (b) in the case of the indemnity set forth in Section 14.2, Autotelic, its Affiliates, officers
and employees; and (c) in the case of the Indemnitees referenced in Section 14.3, the parties identified in Subsections 1.17(a) and 1.17(b)
above, as applicable.

 

1.20.
“Indications” shall mean Parkinson’s Disease (PD), erectile dysfunction (ED), female sexual dysfunction (FSD –
also called hypoactive sexual desire disorder (HSDD)) or any other indications related to the Product that are or may be identified in
the future.

 

1.21.
“Licensed Product(s)” shall mean any Compound or any pharmaceutical product containing one or more Compounds as an active
ingredient, alone or in combination with other active ingredients; process, service, or product, the manufacture, use, or sale of which,
is or was covered by a Valid Claim of any of the Autotelic Patents or incorporates or uses any Autotelic Know-How for the Indications.

 

1.22.
“Net Sales” shall mean global gross sales of the Licensed Products as reduced by discounts, rebates, chargebacks, returns
and any other deductions made against gross sales as defined under the US Generally Accepted Accounting Principals.

 

1.22.
“NDA” shall mean a New Drug Application or its domestic equivalent.

 

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1.23.
“Positive outcome” shall mean (a) the achievement of primary endpoint successfully in the applicable clinical trial for the
Indications or (b) a decision by Oncotelic to proceed with further development of Licensed Products for the Indications , following a
Phase 2/3 clinical trial for any Indications, whichever occurs first, including and not limited to a 505(b)2 clinical trial.

 

1.24.
“Registration” shall mean, in relation to any Licensed Product for one or more Indications, such approvals by the regulatory
authorities in any given country.

 

1.25.
“Territory” shall mean all countries in the world.

 

1.25.
“Up-listing Event” shall mean the registration of Oncotelic shares on a major stock exchange that provides significantly
improved liquidity relative to its current status. Such major stock exchanges shall be Nasdaq or NYSE or such similar stock exchanges.

 

1.26.
“Valid Claim” shall mean issued or granted claims of any issued and unexpired patent included among the Autotelic Patents,
which has not been held unenforceable, unpatentable or invalid by a decision of a court or governmental body of competent jurisdiction,
which is unappealable or unappealed within the time allowed for appeal, which has not been rendered unenforceable through disclaimer
or otherwise or which has not been lost through an interference or opposition proceeding.

 

ARTICLE
2. LICENSES

 

2.1.
License Under Autotelic Patents and Autotelic Know-How. Autotelic hereby grants Oncotelic the exclusive right and license to practice
the Autotelic Patents and the Autotelic Know-How to develop, have developed, make, have made, use, import, export, offer for sale, sell
and have sold Licensed Products for the Indications anywhere in the world as well as further license the Product and/or the Licensed
Products for the Indications for one or more of the Indications provided such licensing shall not affect the right of Autotelic under
this agreement. For so long as the license granted to Oncotelic under this agreement is in effect, Autotelic forgoes the right to develop,
have developed, make, have made, use, import, export, offer for sale, sell and have sold Licensed Products for the Indications. The initial
clinical studies for the Licensed Products for the Indication(s) shall be conducted under an EMEA or FDA CTA to be filed by Oncotelic.

 

2.2.
Autotelic Information. Subject to Sections 5.1(a) and 5.2, Autotelic will retain all right, title and interest in, to and under
all preclinical data, all clinical data, all pharmaceutical science data, formulations data, and all other supporting data, as well as
bulk unformulated and formulated drug product that are related to the Compounds or the Licensed Products for the Indications developed,
owned or controlled by Autotelic and existing as of the Effective Date. For clarity, any and all information owned by Autotelic pursuant
to this Section 2.2 shall be part of the Autotelic Know-How.

 

2.3.
Oncotelic Information. For so long as the license granted to Oncotelic under this Agreement is in effect, Oncotelic will retain
all right, title and interest in, to, and under all of the development, preclinical and clinical data relating to the Compounds that
are generated by Oncotelic during the course of its performance of this Agreement. For clarity, any and all information owned by Oncotelic
pursuant to this Section 2.3 shall be part of the Oncotelic Know-How.

 

2.4.
Autotelic’s Cooperation. Upon request by Oncotelic for Autotelic’s assistance in connection with the recordation of
Oncotelic’s exclusive licenses granted hereunder with the relevant patent authorities, Autotelic shall cooperate fully with all
such requests; provided that Oncotelic shall reimburse Autotelic for its out-of-pocket expenses incurred in connection with such cooperation.

 

ARTICLE
3. MILESONE & ROYALTY PAYMENTS

 

3.1.
Milestone Payments. As consideration for entering into this Agreement, Oncotelic agrees to pay Autotelic milestone payments (“Milestone
Payments”) in the exact amount specified in Exhibit B (excluding withholding tax) no later than sixty (60) days after the occurrence
of the corresponding event designated in Exhibit B, unless Oncotelic has given Autotelic notice of termination of this Agreement prior
to the occurrence of the applicable milestone or a transaction as contemplated in clause 6.1 and 13.5 below is entered into.

 

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3.2.
Royalty Payments. Oncotelic agrees to pay Autotelic royalties as specified in Exhibit B (excluding withholding tax) no later than
sixty (60) days after the close of the fiscal quarters, namely March 31, June 30, September 30 and December 31, on Net Sales of the Licensed
Product for the Indications unless Oncotelic sublicenses or out licenses the Licensed Product in the Indications, in which case, either
Oncotelic shall receive the royalties from the new licensee and pay Autotelic it’s obligations under this Agreement or the new
licensee shall pay the royalties directly to Autotelic.

 

3.3.
Net Sales and Royalty Reports. Oncotelic shall provide Autotelic Net Sales of the Licensed Products for the Indications and royalty
owed reports within 45 days of the close of the fiscal quarter, namely March 31, June 30, September 30 and December 31 unless Oncotelic
sublicenses or out licenses the Licensed Product in the Indications, in which case, the new licensee shall provide the Net Sales of the
Licensed Products for the Indications and royalty owed reports withing the time prescribed above. Autotelic shall review and confirm
or dispute the Net Sales and/or the Royalties as reported by Oncotelic or new licensee within 10 days of receiving the Net Sales and
Royalty reports. If Autotelic disputes the Net Sales or Royalty reports, then Oncotelic/new licensee and Autotelic shall meet to mutually
resolve the dispute.

 

3.2.
Taxes. Autotelic will be responsible for any and all income or other taxes (except withholding tax) owed by Autotelic and required
by applicable law to be deducted from any of the payments made by or on behalf of Oncotelic to Autotelic. To the extent any withholding
taxes are required to be withheld from any of the payments made by or on behalf of Oncotelic to Autotelic by the relevant taxing authorities,
Oncotelic shall withhold and pay all such taxes and shall provide Autotelic with the written documentation evidencing the payment of
such taxes

 

ARTICLE
4. PAYMENTS

 

4.1.
Wire Transfer. All payments to each party shall be made by wire transfer to an account of each party designated by each party
from time to time.

 

4.2.
Currency Restrictions. Except as hereinafter provided in this Section 4.2, all payments shall be paid in U.S. Dollars.

 

4.3.
Overdue Payments. In the event any payment due hereunder is not made when due, the payment shall accrue interest (beginning on
the date such payment is due) calculated at the rate of one percent (1.5%) per month and such payment when made shall be accompanied
all interest so accrued. The remittance of such interest shall not foreclose each party from exercising any other rights it may have
pursuant to this Agreement because such payment

 

ARTICLE
5. TRANSFER OF KNOW-HOW; TECHNICAL ASSISTANCE

 

5.1.
Transfer by Autotelic. Within thirty (30) days following the Effective Date, Autotelic shall supply Oncotelic with all Autotelic
Know-How, including, but not limited to pharmacology, toxicology, preclinical testing, clinical testing, CMC data, batch records, trials
and studies, safety and efficacy, manufacturing information, analytical and quality control.

 

5.2.
Technical Assistance. In order to obtain regulatory approval, Autotelic shall, upon request by Oncotelic, provide Oncotelic with
reasonable cooperation and assistance, consistent with the other provisions hereof, in connection with the transfer of Autotelic Know-How.
Such assistance may include, but is not limited to, development of the formulations of the Licensed Products; procurement of supplies
and raw materials; initial developmental and production batch manufacturing runs; process, specification and analytical methodology design
and improvement; and, in general, such other assistance as may contribute to the efficient application by Oncotelic of the Autotelic
Know-How. In this regard, Autotelic agrees to make appropriate employees of Autotelic reasonably available to assist Oncotelic, and Autotelic
agrees to provide reasonable numbers of appropriate Oncotelic personnel with access during normal business hours to the appropriate personnel
and operations of Autotelic for such periods of time as may be reasonable in order to familiarize Oncotelic personnel with the Autotelic
Know-How as applied by Autotelic. Such technical assistance shall include but not be limited to the following:

 

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5.3.
Language of Disclosures. All disclosures pursuant to this Agreement will be in English.

 

ARTICLE
6. FIRST RIGHT OF REFUSAL TO ACQUIRE AUTOTELIC

 

6.
1. If at any time, Autotelic opts to enter into a Transaction, then Autotelic shall be obligated to provide Oncotelic the first right
of refusal to wholly or majority acquire Autotelic. Should Oncotelic opt not to acquire Autotelic, then Autotelic shall have the right
to pursue any Transaction.

 

“Transaction”
shall include but is not limited to any financing collaboration, distribution revenues, earn-outs, sales, out-licensing, purchases, debt,
royalties, merger acquisition, change of control, transfer of cash or non-cash assets, disposition of capital stock by way of tender
or exchange offer, partnership or any other joint or collaborative venture, research collaboration, material transfer, sponsored research
or similar transaction or agreements.

 

ARTICLE
7. SAFETY INFORMATION EXCHANGE

 

7.1.
Adverse Effect. The parties shall establish and implement a procedure for the mutual exchange of adverse effects reports and safety information
concerning the Licensed Product to compliance with applicable law and regulatory guidelines. The detail of the operating procedure shall
be separately agreed by the parties.

 

ARTICLE
8. PATENT PROSECUTION

 

8.1.
Patent Prosecution and Maintenance. Autotelic shall be responsible, and use best efforts, to prosecute Patents in the Territory.
Autotelic shall keep Oncotelic informed as to all developments with respect to Autotelic Patents. Oncotelic shall be afforded reasonable
opportunities to advise Autotelic and cooperate with Autotelic in such prosecution and maintenance. Once Patents would be issued, Autotelic
shall use best efforts, to maintain the Patents in force and in good standing.

 

8.2.
Patent Costs. For so long as the license granted to Oncotelic under this Agreement is in effect, Oncotelic will reimburse Autotelic
for costs related to prosecuting and maintaining Autotelic’s patent portfolio for the Product which shall be incurred from the
Effective Date. Invoices, including reasonable substantiation thereof, shall be submitted once in respect of each fiscal quarter as promptly
as practicable after the end of such quarter. Payments shall be due net sixty (60) days from the date of invoice. For the avoidance of
doubt, reimbursement by Oncotelic for new patent registrations shall be subject to prior agreement between the parties depending on the
jurisdiction.

 

ARTICLE
9. INFRINGEMENT

 

9.1.
Each Party shall promptly report in writing to each other Party during the term of this Agreement any: (i) known infringement or suspected
infringement of any of the Autotelic Patent Rights in the Field; or (ii) unauthorized use or misappropriation of the Autotelic Technology
Rights in the Field by a Third Party of which it becomes aware, and shall provide each other Party with all available evidence supporting
said infringement, suspected infringement or unauthorized use or misappropriation. Within 30 days after Autotelic becomes, or is made,
aware of any of the foregoing, it shall decide whether or not to initiate an infringement or other appropriate suit and shall advise
Oncotelic of its decision in writing. The inability of Autotelic to decide on a course of action within such 30-day period shall for
purposes of this Agreement be deemed a decision not to initiate an infringement or other appropriate suit.

 

9.2.
Within sixty (60) days after Autotelic becomes, or is made, aware of any infringement, suspected infringement or unauthorized use or
misappropriation by a third party in the Field, as provided in Section 12.1 above, and provided that Autotelic shall have advised Oncotelic
of its decision to file suit within the 30-day period provided in Section 9.1 above, Autotelic shall have the right to initiate an infringement
or other appropriate suit anywhere in the world against such Third Party. Autotelic shall provide Oncotelic with an opportunity to make
suggestions and comments regarding such suit and shall promptly notify Oncotelic of the commencement of such suit. Autotelic shall keep
Oncotelic promptly informed of, and shall from time to time consult with Oncotelic regarding, the status of any such suit and shall provide
Oncotelic with copies of all documents filed in, and all written communications relating to, such suit.

 

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9.3.
Autotelic shall select counsel for any suit referred to in Section 9.2 above who shall be reasonably acceptable to Oncotelic. Autotelic
shall, except as provided below, pay all expenses of the suit, including, without limitation, attorneys’ fees and court costs.
Oncotelic, in its sole discretion, may elect, within 60 days after the receipt by Oncotelic from Autotelic of notice of the commencement
of such litigation, to contribute to the costs incurred by Autotelic in connection with such litigation in an amount not to exceed 50
percent of such costs. Any damages, settlement fees or other consideration for past infringement received as a result of such litigation
shall be shared by Autotelic and Oncotelic pro rata based on their respective sharing of the costs of such litigation. If necessary Oncotelic
shall join as a party to the suit but shall be under no obligation to participate except to the extent that such participation is required
as the result of being a named party to the suit. Oncotelic shall have the right to participate and be represented in any suit by its
own counsel at its own expense. Autotelic shall not settle any such suit involving rights of Oncotelic without obtaining the prior written
consent of Oncotelic, which consent shall not be unreasonably withheld.

 

9.4.
In the event that Autotelic does not inform Oncotelic of its intent to initiate an infringement or other appropriate suit within the
30-day period provided in Section 10.1 above, or does not initiate such an infringement other appropriate action within the 60-day period
provided in Section 10.2 above, Oncotelic shall have the right, at its expense, to initiate an infringement or other appropriate suit
in the Territory. In exercising its rights pursuant to this Section 10.4, Oncotelic shall have the sole and exclusive right to select
counsel and shall pay all expenses of the suit including without limitation attorneys’ fees and court costs. If necessary, Autotelic
shall join as a party to the suit, at its own expense, and shall participate only to the extent that such participation is required as
a result of its being a named party to the suit or being the holder of any patent at issue or being the owner of any Autotelic Technology
Rights at issue. At Oncotelic’s request, Autotelic shall offer reasonable assistance to Oncotelic in connection therewith at no
charge to Oncotelic except for reimbursement of reasonable out-of-pocket expenses incurred in rendering such assistance. Without limiting
the generality of the preceding sentence, Autotelic shall cooperate fully in order to enable Oncotelic to institute any action hereunder.
Autotelic shall have the right to be represented in any such suit by its own counsel at its own expense. Any settlement or other consideration
for past infringement received as a result of litigation shall be the sole property of Oncotelic.

 

ARTICLE
10. WARRANTIES AND REPRESENTATIONS

 

10.1.
Warranties and Representations of Autotelic. Autotelic warrants and represents the following as of the date hereof:

 

(a)
Autotelic hereby represents and warrants that: (i) Autotelic has the authority to grant to Oncotelic all of the rights granted hereunder;
(ii) Autotelic has licensed, owns or controls all rights to the Autotelic Patents and the Autotelic Know-How; and (iii) Autotelic is
unaware of any rights superior to Autotelic Patent and Autotelic Know-How which would prevent Oncotelic from fully exercising the rights
licensed to it herein;

 

(b)
Exhibit A is a complete list of all patents and patent applications included in the Autotelic Patents as of the Effective Date;

 

(c)
it is not aware of any material facts which it has not disclosed to Oncotelic regarding the manufacture, use or sale of any Licensed
Product or the practice of any inventions included in the Autotelic Patents or the use of the Autotelic Know-How by Oncotelic including
without limitation any material facts regarding the possibility that such manufacture, use, sale or practice might infringe any third
party’s know-how, patent rights or other intellectual property in the Territory;

 

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(d)
it is aware of no third party using or infringing all or any of the Autotelic Patents in derogation of the rights granted pursuant to
this Agreement;

 

(e)
it is aware of no third party claim to any rights in the Autotelic Patents or the Autotelic Know-How;

 

(f)
it is aware of no pending interference or opposition proceeding or litigation or any communication which threatens an interference or
opposition proceeding or litigation before any patent office, court, or any other governmental entity or court in any jurisdiction in
regard to the Autotelic Patent; and

 

(g)
it is not aware of any action or proceeding, pending or threatened, with respect to Licensed Products, including without limitation the
conduct of any clinical trials, manufacturing activities or other activities, that questions the validity of this Agreement or any action
taken by Autotelic in connection with the execution of this Agreement. There are no material unsatisfied judgments or outstanding orders,
injunctions, decrees, stipulations or awards (whether rendered by a court, an administrative agency or by an arbitrator) against Autotelic
with respect to Licensed Product, including without limitation the conduct of any clinical trials, manufacturing activities or other
activities.

 

10.2.
Warranties and representations by Oncotelic. Oncotelic represents and warrants that it has, or will obtain, the skill and expertise
in the technical areas relating to the Autotelic Patents and Autotelic Know-How to make or have made an evaluation of the capabilities,
safety, utility and commercial application of the Autotelic Patent and the Autotelic Know-How.

 

10.3.
Warranties and Representations of Each Party. Each party hereto warrants and represents to: (a) the other that it is free to enter
into this Agreement (including the receipt of all corporate authorizations) and to carry out all of the provisions hereof, including,
its grant to the other of the licensed described in Article 2; (b) to its knowledge, there is no failure to comply with, no violation
of or any default under, any law, permit or court order applicable to it which might have a material adverse effect on its ability to
execute, deliver and perform this Agreement or on its ability to consummate the transactions contemplated hereby; and (c) it shall comply
with laws and regulations relating to the performance of its obligations or the exercise of its rights hereunder including, those relating
to the manufacture, processing, producing, use, sale, or distribution of Licensed Products; and that it shall not take any action which
would cause it or the other party to violate such laws and regulations.

 

10.4.
Intellectual Property.

 

(i)
The Autotelic Patents and Autotelic Know-How constitute all intellectual property controlled by Autotelic that is necessary or useful
to manufacture, develop, use or commercialize the Licensed Product, and to the knowledge of Autotelic there is not any other intellectual
property necessary for such purposes that is not controlled by Autotelic;

 

(ii)
All patents within the Autotelic Patents are in full force and effect, valid, subsisting and, in the case of issued patents, enforceable,
and inventorship of the Autotelic Patents is properly identified on such Autotelic Patents. None of the Autotelic Patents is currently
involved in any interference, reissue, reexamination, or opposition proceeding, and neither Autotelic nor any of its Affiliates has received
any written notice from any person, or has knowledge, of such actual or threatened proceeding;

 

(iii)
There are no actions or proceedings (including any inventorship challenges) pending or, to the knowledge of Autotelic, threatened with
respect to any of the Autotelic Patents, Autotelic Know-How, Compound or Licensed Products for the Indications nor have any such actions
or proceedings been brought or, to the knowledge of Autotelic, threatened during the past five (5) years, in each case which have not
been resolved without impairment of Autotelic’s rights in and to any of the Autotelic Patents, Autotelic Know-How, Compound Licensed
Products and without the obligation to pay any royalties or other amounts to any third party with respect to the use of such technology
or the sale of such products;

 

(iv)
All official fees, maintenance fees and annuities for the Autotelic Patents have been paid through the Effective Date.

 

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10.5.
Exclusivity. For so long as the license granted to Oncotelic under this agreement is in effect, Autotelic shall not enter into
a Transaction related to the Licensed Products or the Indications, as hereinafter defined, with a company, organization, partnership
or any other person, firm or entity subject to the terms under section 6.4 above, unless otherwise agreed to in writing by Oncotelic,
and which consent shall not be unreasonably withheld.

 

ARTICLE
11. INDEMNIFICATION

 

11.1.
Oncotelic’s Indemnification. Subject to compliance by the Indemnitees with the provisions set forth in Section 11.3, Oncotelic
shall defend, indemnify, and hold harmless the Indemnitees, from and against any and all demands, losses, liabilities, expenses, and
damages including investigative costs, court costs and reasonable attorneys’ fees (collectively, the “Liabilities”)
arising in connection with any and all charges, complaints, actions, suits, proceedings, hearings, investigations, claims, demands, judgments,
orders, decrees, stipulations or injunctions by a third party (each, a “Third Party Claim”) resulting from any and all personal
injury (including death) and property damage caused or contributed to, in whole or in part, by manufacture, testing, design, use, sale,
or labeling of any Licensed Products for the Indications , regulatory action related to such products, or the practice of the Autotelic
Patents or Autotelic Know-How by Oncotelic or its Affiliates except to the extent that such Liabilities result from the negligence or
willful misconduct of Autotelic or are an item for which Autotelic must indemnify Oncotelic pursuant to Section 11.2.

 

11.2.
Autotelic’s Indemnification. Subject to compliance by the Indemnitees with the provisions set forth in Section 11.3, Autotelic
shall indemnify and hold harmless the Indemnitees from and against any and all Liabilities arising in connection with any Third Party
Claim resulting from: (a) any breach by Autotelic of any of its representations, warranties, covenants set forth in this Agreement; (b)
Autotelic’s (or its agent’s, contractor’s or other designee’s) failure to comply with cGMP, applicable product
specifications or applicable law in connection with the manufacture of any Licensed Product supplied to Oncotelic hereunder; (c) the
negligence, recklessness or intentional acts or omissions of Autotelic or its Affiliates, or subcontractors, and their respective directors,
officers, employees and agents, except to the extent that such Liabilities result from the negligence or willful misconduct of Oncotelic
or are an item for which Oncotelic must indemnify Autotelic pursuant to Section 11.1 above. Autotelic’s obligations under this
Article shall survive expiration or termination of this Agreement for any reason.

 

11.3.
Indemnification Procedures. Any Indemnitee which intends to claim indemnification under this Article shall, promptly after becoming
aware thereof, notify the party from whom it is seeking indemnification (the “Indemnitor”) in writing of any matter in respect
of which the Indemnitee or any of its employees intend to claim such indemnification. The Indemnitee shall permit, and shall cause its
employees to permit, the Indemnitor, at its discretion, to settle any such matter and agrees to the complete control of such defense
or settlement by the Indemnitor; provided, however, that such settlement does not adversely affect the Indemnitee’s rights hereunder
or impose any obligations on the Indemnitee in addition to those set forth herein in order for it to exercise such rights. No such matter
shall be settled by such Indemnitee without the prior written consent of the Indemnitor and neither the Indemnitor nor the Indemnitee
shall be responsible for any legal fees or other costs incurred other than as provided herein. The Indemnitee and its employees shall
cooperate fully with the Indemnitor and its legal representatives in the investigation and defense of any matter covered by the applicable
indemnification. The Indemnitee shall have the right, but not the obligation, to be represented by counsel of its own selection and expense.

 

ARTICLE
12. CONFIDENTIALITY

 

12.1.
Treatment of Confidential Information. Except as otherwise provided hereunder, during the term of this Agreement and for a period
of five (5) years thereafter:

 

(a)
Oncotelic and its Affiliates shall retain in confidence and use only for purposes of this Agreement, any written or oral confidential
information and data supplied by or on behalf of Autotelic under this Agreement; and

 

(b)
Autotelic and its Affiliates shall retain in confidence and use only for purposes of this Agreement any written and oral confidential
information and data supplied by or on behalf of Oncotelic to Autotelic under this Agreement.

 

    	9

     

    

 

For
Purposes of this Agreement, all such confidential information and data which a party is obligated to retain in confidence shall be called
“Information.”

 

12.2.
Right to Disclose. To the extent that it is reasonably necessary to fulfill its obligations or exercise its rights under this
Agreement, or any rights which survive termination or expiration hereof, each party may disclose Information to its Affiliates, consultants,
outside contractors, actual or prospective investors, and clinical investigators on condition that such entities or persons agree in
writing:

 

(a)
to keep the Information confidential for a period of at least five (5) years from the date of disclosure by such party to the same extent
as such party is required to keep the Information confidential; and

 

(b)
to use the Information only for those purposes for which the disclosing party is authorized to use the Information.

 

Each
party or its Affiliates, as applicable, may disclose Information to the government or other regulatory authorities to the extent that
such disclosure (i) is necessary for the prosecution and enforcement of patents, of authorizations to conduct preclinical or clinical
trials to commercially market Licensed Products for the Indications , provided such party is then otherwise entitled to engage in such
activities in accordance with the provisions of this Agreement, or (ii) is legally required.

 

12.3.
Release from Restrictions. The obligation not to disclose or use Information shall not apply to any part of such Information that:

 

(a)
is or becomes patented (but the existence of a patent shall only permit disclosure and not, unless otherwise provided hereunder, use),
published or otherwise part of the public domain, other than by unauthorized acts of the party obligated not to disclose such Information
(for purposes of this Article 16 the “receiving party”) or its Affiliates in contravention of this Agreement; or

 

(b)
is disclosed to the receiving party or its Affiliates by a third party provided that such Information was not obtained by such third
party directly or indirectly from the other party to this Agreement; or

 

(c)
prior to disclosure under the Confidentiality Agreement or this Agreement, as the case may be, was already in the possession of the receiving
party, its Affiliates, provided that such Information was not obtained directly or indirectly from the other party to this Agreement;
or

 

(d)
result from research and development by the receiving party or its Affiliates, independent of disclosure from the other party to this
Agreement; or

 

(e)
is required by law to be disclosed by the receiving party, provided that in the case of disclosure in connection with any litigation,
the receiving party uses reasonable efforts to notify the other party immediately upon learning of such requirement in order to give
the other party reasonable opportunity to oppose such requirement; or

 

(f)
Oncotelic and Autotelic agree in writing may be disclosed.

 

ARTICLE
13. TERM AND TERMINATION

 

13.1.
Term. Unless sooner terminated as otherwise provided in this Agreement, the term of this Agreement shall commence on the Effective
Date and shall continue until the date of expiration of the last-to-expire of the Autotelic Patents, including any renewals or extensions
thereof.

 

13.2.
Termination by Default. If either party defaults in the performance of, or fails to be in compliance with, any material agreement,
condition or covenant of this Agreement, the non-defaulting party may terminate this Agreement with respect to the defaulting party if
such default or noncompliance shall not have been remedied, or, in the event the default or non-compliance cannot be remedied within
such period, reasonable steps shall not have been initiated to remedy the same, within sixty (60) days after receipt by the defaulting
party of a written notice thereof from the non-defaulting party. In the event of any termination of this Agreement due to Autotelic’s
breach of any provision of this Agreement, all right, title, interest in and to Autotelic Know-how that have been developed at Oncotelic’s
expense up to the effective date of such termination shall be hereby transferred and assigned to Oncotelic. Oncotelic shall have the
right to use Autotelic’s know-how as well as Joint Patents and Joint Know-How free of charge under this Agreement for the regulatory
purpose after termination of this agreement.

 

    	10

     

    

 

13.3.
Termination by Oncotelic without any cause. Oncotelic shall have the right to terminate this Agreement by giving Autotelic sixty
(60) days’ prior written notice thereof. In the case of the termination pursuant to Article 14.3, Autotelic shall have the right
to use Joint Patents and Joint Know-How as well as Oncotelic Information free of charge under this agreement.; provided that if such
termination occurs while either the 505(b)2, Phase 2 or Phase 3 trial(s) is/are enrolling patients or before all follow-up visits for
such studies have been completed, Oncotelic must continue to fund in accordance with the terms and conditions of its contracts in effect
with each of CRO, CMO or hospitals.

 

13.4.
Termination due to Insolvency. Either party may terminate this Agreement if, at any time after the Effective Date, the other party
(i) commences any insolvency, receivership or bankruptcy proceedings or any other proceedings for the settlement of such party’s
debts or such proceeding is commenced against such party by a third party and is not dismissed within 60 days of commencement (each an
“Insolvency Event”); (ii) such party makes an assignment for the benefit of creditors, or (iii) the dissolution or cessation
of business by such party. Upon the occurrence of an Insolvency Event affecting Autotelic, all right, title and interest in and to Autotelic
Know-how developed after the Effective Date, at Oncotelic’s expense under this Agreement, shall be hereby transferred and assigned
to Oncotelic.

 

13.5.
Merger / Change of Control. In the event of a merger or change of control of Autotelic, Oncotelic’s obligations under this
agreement shall survive with the successor and Oncotelic’s commercial license and right of using data which Autotelic has at this
event shall continue in effect. In the event of a merger or change of control of Oncotelic will not absolve Oncotelic, or the successor,
of it’s obligations under this agreement unless such merger occurs between Oncotelic and Autotelic. For clarity, only if a merger
occurs between Oncotelic and Autotelic, then and only then shall all the Milestone Payments cease to be obligations for Oncotelic to
make to Autotelic.

 

13.6.
License-out by Autotelic. If Autotelic enters into a license agreement in breach of this Agreement with any third party without
the prior written approval from Oncotelic, any such license agreement shall be null and void and without any legal effect.

 

13.7.
Failure to Continue Commercially Reasonable Efforts. If Oncotelic fails to maintain commercially reasonable efforts for the continued
development of the Licensed Products for the Indications, then Oncotelic’s licensed rights for commercial use and development shall
terminate.

 

13.8.
Failure to Affect an Up-listing Event. If Oncotelic fails to affect a Fund Raising Event or an Up-listing Event within 24 months
after the parties receive a CTA from the EMEA or the FDA, then Oncotelic’s commercial license and rights for using the data under
this Agreement shall terminate.

 

13.9.
Survival of Obligations; Return of Confidential Information. Notwithstanding any termination of this Agreement, the obligations
of the parties with respect to the protection and nondisclosure of Confidential Information (Section 15) and product liability indemnification
as well as any other provisions which by their nature are intended to survive any such termination, shall survive and continue to be
enforceable. Upon any termination or expiration of this Agreement, each Party shall promptly return to the other Party all written Confidential
Information and all copies thereof, of such other Party.

 

13.10.
Effect of Termination. In the event of any expiration or termination pursuant to this Article 13, neither party shall have any
remaining rights or obligations under this Agreement other than as provided below:

 

(a)
Each party will have the right to receive all payments accrued prior to the effective date of termination;

 

(b)
termination or expiration of this Agreement for any reason shall have no effect on the parties’ rights or obligations under this
Agreement;

 

    	11

     

    

 

(c)
the parties’ shall retain any other remedies for breach of this Agreement they may otherwise have.

 

(d)
after termination of this Agreement, Autotelic can obtain the rights to use the Know-How, Patents and Oncotelic Information.

 

ARTICLE
14. ASSIGNMENT

 

14.1.
Assignment by Either Party. Neither Party may assign its rights or obligations hereunder without the prior written consent of each other
Party other than in connection with a Change of Control of such Party, and any assignment made in breach of this Section 14.1 shall be
null and void. For clarity, neither Party shall assign or transfer its rights and obligations hereunder, whether by operation of law,
contract or otherwise (including in connection with the insolvency or bankruptcy affecting such Party) without the prior written consent
of the other Party, except in connection with a Change of Control of the Party.

 

ARTICLE
15. DISPUTE RESOLUTION AND ARBITRATION

 

15.1.
Initial Resolution. In the case of any disputes between the parties arising from this Agreement, and in case this Agreement does
not provide a solution for how to resolve such disputes, the parties shall discuss and negotiate in good faith a solution acceptable
to both parties and in the spirit of this Agreement. If after negotiating in good faith pursuant to the foregoing sentence, the parties
fail to each agreement within thirty (30) days, then the Chief Scientific Officer of Autotelic and the Chief Business Officer of Oncotelic
shall discuss in good faith an appropriate resolution to the dispute. If these executives fail, after good faith discussions not to exceed
thirty (30) days, to reach an amicable agreement then the parties shall submit to binding arbitration pursuant to Section 15.2 (“Arbitration”).
The date of submission of the matter to substrate shall be the “Dispute Date”.

 

15.2.
Arbitration. This Agreement shall be governed by and interpreted in accordance with the laws of California without regard to its
or any other jurisdiction’s choice of law rules that would result in the application of the laws of any jurisdiction other than
California. Any controversy or claim arising out of or relating to this Agreement shall be finally
settled by arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and
judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. The arbitration shall
be conducted in California, before a tribunal of three arbitrators, of whom one shall be nominated by Autotelic and one shall be nominated
by Oncotelic, and the third one shall be selected by the foregoing two nominees. The arbitration proceedings shall be in English. All
decisions of the arbitration tribunal shall be final and binding on the Parties and shall be enforceable in accordance with their terms.
Each party shall bear the expenses and costs of the Arbitrator selected by party. The third Arbitrator shall be compensated for services
rendered at the prevailing hourly rate of compensation and reimbursed for any expenses incurred in connection with rendering such services.
The non-prevailing party shall bear the costs and expenses of compensation and reimbursement for the third Arbitrator.

 

ARTICLE
16. GENERAL PROVISIONS

 

16.1.
Damages. EXCEPT FOR A BREACH OF CONFIDENTIALITY OBLIGATIONS UNDER THIS AGREEMENT OR WILLFUL BREACH OF THIS AGREEMENT, IN NO EVENT
SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY CONSEQUENTIAL, INCIDENTAL, INDIRECT, PUNITIVE OR EXEMPLARY DAMAGES EVEN IF ADVISED
OF THE POSSIBLE OF THE SAME.

 

16.2.
Independent Contractors. It is understood and agreed that the parties hereto are independent contractors and are engaged in the
operation of their own respective businesses, and neither party hereto is to be considered the agent of the other party for any purpose
whatsoever, and neither party shall have any authority to enter into any contracts or assume any obligations for the other party nor
make any warranties or representations on behalf of that other party.

 

16.3.
Publicity. The parties agree to issue mutual press releases concerning their entry into this Agreement, with the content of such
releases to be approved (which consent shall not be unreasonably withheld or delayed) in advance by the parties. In all other respects,
except as required by law, neither party shall use the name of the other party in any publicity release without the prior written permission
of such other party, which shall not be unreasonably withheld. The other party shall have a reasonable opportunity to review and comment
on any such proposed publicity release. Except as required by law, neither party shall publicly disclose the terms of this Agreement
or issue any publicity release with regard thereto unless expressly authorized to do so by the other party which authorization shall
be agreed upon

 

    	12

     

    

 

16.4.
Governing Law. This Agreement and all amendments, modifications, alterations, or supplements hereto, and the rights of the parties
hereunder, shall be construed under and governed by the laws of California, exclusive of its conflicts of laws principles.

 

16.5.
Entire Agreement. This Agreement, together with the Exhibits attached hereto, constitutes the entire agreement between Autotelic
and Oncotelic with respect to the subject matter hereof and shall not be modified, amended or terminated, except as herein provided or
except by another agreement in writing executed by the parties hereto. Upon the Effective Date, the Confidentiality Agreement shall terminate.

 

16.6.
Waiver. No provision of this Agreement may be waived except by a writing signed by the party entitled to the benefit thereof,
and no such waiver of any provision hereof in one instance shall constitute a waiver of any other provision or of such provision in any
other instance. No omission, delay or failure on the part of any party hereto in exercising any rights hereunder will constitute a waiver
of such rights or of any other rights hereunder.

 

16.7.
Severability. All rights and restrictions contained herein may be exercised and shall be applicable and binding only to the extent
that they do not violate any applicable laws and are intended to be limited to the extent necessary so that they will not render this
Agreement illegal, invalid or unenforceable. If any provision or portion of any provision of this Agreement, not essential to the commercial
purpose of this Agreement, shall be held to be illegal, invalid or unenforceable by a court of competent jurisdiction, it is the intention
of the parties that the remaining provisions or portions thereof shall constitute their agreement with respect to the subject matter
hereof, and all such remaining provisions, or portions thereof, shall remain in full force and effect. To the extent legally permissible,
any illegal, invalid or unenforceable provision of this Agreement shall be replaced by a valid provision which shall implement the commercial
purpose of the illegal, invalid or unenforceable provision. In the event that any provision essential to the commercial purpose of this
Agreement is held to be illegal, invalid or unenforceable and cannot be replaced by a valid provision which will implement the commercial
purpose of this Agreement, this Agreement and the rights granted herein shall terminate

 

16.8.
Force Majeure.

 

(a)
Any delays in, or failure of performance of, any party to this Agreement, shall not constitute a default hereunder, or give rise to any
claim for damages, if and to the extent caused by occurrences beyond the control of the party affected, including, but not limited to,
acts of God, strikes or other concerted acts of workmen, civil disturbances, fires, floods, explosions, riots, war, rebellion, sabotage,
acts of governmental authority or failure of governmental authority to issue licenses or approvals which may be required(“Force
Majeure”).

 

(b)
The party asserting the Force Majeure shall promptly notify the other party of the event constituting Force Majeure and of all relevant
details of occurrence and where appropriate an estimate of how long such Force Majeure event shall continue.

 

(c)
If such Force Majeure event continues thereafter and in any event, the parties shall consult with each other in order to find a fair
solution and shall use all reasonable endeavors to minimize the consequences of such Force Majeure.

 

16.9.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

 

    	13

     

    

 

16.10.
Notices. All notices, statements, and reports required to be given under this Agreement shall be in writing and shall be deemed
to have been given upon delivery in person or, when deposited (a) in the mail in the country of residence of party giving the notice,
registered or certified postage prepaid or with a professional courier service (e.g., FedEx or UPS or DHL), and addressed as follows:

 

	To
    Oncotelic: 	ONCOTELIC
    THERAPEUTICS, INC. 	 
	 	29397
    Agoura Road, Suite 107 	 
	 	Agoura
    Hills, CA 91301 	 
	 	Attn:	Saran
    Saund 	 
	 	E-mail:	saran.saund@oncotelic.com	 

 

	 To
    Autotelic: 	AUTOTELIC
    INC. 	 
	 	17128
    Colima Road, #518 Hacienda Heights, CA 91745 	 
	 	Attn:	Chulho
    Park	 
	 	E-mail:	cpark@autotelicinc.com	 

 

Any
party hereto may change the address to which notices to such party are to be sent by giving notice to the other party at the address
and in the manner provided above. Any notice may be given, in addition to the manner set forth above, by facsimile or e-mail, provided
that the party giving such notice obtains acknowledgment by facsimile or e-mail that such notice has been received by the party to be
notified. Notices made in this manner shall be deemed to have been given when such acknowledgment has been transmitted. Any provision
of this Section 19.10 to the contrary notwithstanding, any notice to Autotelic shall be effective if given as to Autotelic prescribed
above by Oncotelic, despite any failure to deliver copies as prescribed above.

 

Intentionally
kept blank

 

    	14

     

    

 

IN
WITNESS WHEREOF, Oncotelic and Autotelic have caused this Agreement to be signed by their duly authorized representatives, under seal,
as of the day and year indicated above.

 

	For
    AUTOTELIC INC.	 
	 	 	 
	 	/s/
    Chulho Park	 
	By:	Chulho
    Park, Ph. D.	 
	Title:	Chief
    Scientific Officer	 
	 	 	 
	For
    ONCOTELIC THERAPEUTICS, INC.	 
	 	 	 
	 	/s/
    Saran Saund	 
	By:	Saran
    Saund	 
	Title:	Chief
    Business Officer	 

 

    	15

     

    

 

EXHIBIT
A

 

PATENTS
& INDICATION

 

PATENTS

 

Application
No. 63235101, Intranasal Apomorphine - Methods of Use

 

Application
No. 63243175, Fast Acting Treatment of Parkinson with Rapid Delivery of Drug to Brainstem

 

Application
No. 63243177, Combination Therapy for Erectile Dysfunction

 

INDICATIONS

 

Parkinson’s
Disease

 

Erectile
dysfunction

 

Female
sexual dysfunction (also called hypoactive sexual desire disorder)

 

    	16

     

    

 

EXHIBIT
B

 

MILESTONE
PAYMENTS

 

	Milestones	 	Transaction
    Value	 	 	Actions
	 	 	 	 	 	 
	Tranche
    1	 	$	1,000,000	 	 	Upon
    the earlier to occur of: (i) the Company receiving an investment of at least $20 million, and (ii) the uplisting of the Company’s
    common stock to any NASDAQ market or the New York Stock Exchange.
	 	 	 	 	 	 	 
	Tranche
    2	 	$	2,000,000	 	 	Upon
    approval by the United States Food and Drug Administration of the Company’s 505(b)2 application for purposes of treating PD.
	 	 	 	 	 	 	 
	Tranche
    3	 	$	2,000,000	 	 	Upon
    first patient in (“FPI”) for any clinical trial supporting the use of AL-101 for the treatment of PD or ED.
	 	 	 	 	 	 	 
	Tranche
    4	 	$	2,500,000	 	 	Upon
    FPI for phase 2 clinical trials supporting the use of AL-101 to treat FSD.
	 	 	 	 	 	 	 
	Tranche
    5	 	$	2,500,000	 	 	Upon
    FPI for phase 3 clinical trials supporting the use of AL-101 to treat FSD
	 	 	 	 	 	 	 
	Tranche
    6	 	$	10,000,000	 	 	Upon
    Marketing approval for the use of AL-101 to treat PD.
	 	 	 	 	 	 	 
	Tranche
    7	 	$	10,000,000	 	 	Upon
    Marketing approval for the use of AL-101 to treat ED.
	 	 	 	 	 	 	 
	Tranche
    8	 	$	10,000,000	 	 	Upon
    Marketing approval for the use of AL-101 to treat FSD
	 	 	 	 	 	 	 
	Tranche
    9	 	$	10,000,000	 	 	Upon
    the earlier of: (i) the Company entering into a licensing agreement with a third party for the use of AL-101 for the treatment of
    PD, ED or FSD with an aggregate licensing value of at least $50 million; and (ii) the Company’s gross revenue derived from
    sales of AL-101 for the treatment of PD, ED or FSD reaches at least $50.0 million.

 

Royalties
on net sales at 15%.

 

    	17Exhibit 4.1

 

 

Execution Version 

 

AMENDED AND RESTATED WARRANT AGREEMENT

 

THIS AMENDED AND
RESTATED WARRANT AGREEMENT (this “Agreement”), dated as of September 28, 2021, is entered into by and among (i) LumiraDx
Limited, a Cayman Island exempted company limited by shares with company number 314391 (the “Company”); (ii) Continental
Stock Transfer & Trust Company, a New York Limited Purpose Trust Company (the “Outgoing Warrant Agent”), (iii)
Computershare Inc., a Delaware corporation (“Computershare”), and its wholly owned subsidiary, Computershare Trust Company,
N.A., a federally chartered trust company (collectively, the “Successor Warrant Agent”, also referred to herein as
the “Transfer Agent”); and (iv) CA Healthcare Acquisition Corp. (“CAH”), a Delaware corporation.

 

WHEREAS, CAH and the
Outgoing Warrant Agent are parties to that certain Warrant Agreement, dated as of January 26, 2021, and filed with the Securities and
Exchange Commission (the “SEC”) on February 1, 2021 (the “Prior Warrant Agreement”); and

 

WHEREAS, on January
29, 2021, CAH consummated its initial public offering (“Offering”) of 11,500,000 units (the “Units”),
with each Unit consisting of one share of Class A common stock of CAH, par value $0.0001 per share (“CAH Common Stock”),
and one-half of one warrant, where each warrant entitles the holder to purchase one share of CAH Common Stock at a price of $11.50 per
share (the “Warrants”); and

 

WHEREAS, CAH filed
with the SEC a registration statement on Form S-1, File No. 333-251969 (the “Registration Statement”) and prospectus
(the “Prospectus”) dated January 26, 2021, for the registration, under the Securities Act of 1933, as amended (the
“Securities Act”), of the Units, the Warrants and the CAH Common Stock included in the Units; and

 

WHEREAS, CAH, the Company
and LumiraDx Merger Sub, Inc., a Delaware corporation (“Merger Sub”), are parties to that certain Agreement and Plan
of Merger, dated as of April 6, 2021, as amended on August 19, 2021 and August 27, 2021 (the “Merger Agreement”), which,
among other things, provides for the merger of Merger Sub with and into CAH with CAH surviving such merger as a wholly-owned subsidiary
of the Company (the “Merger”), and, as a result of the Merger, among other things, all shares of CAH Common Stock issued
and outstanding immediately prior to the Effective Time (as such term is defined in the Merger Agreement), after giving effect to the
transactions set out in the Merger Agreement, shall be automatically canceled and extinguished in accordance with the terms of the Merger
Agreement, in consideration for the right to receive one common share of the Company with a par value of US$ 0.0000028 (the “Common
Shares”); and

 

WHEREAS, the Company
desires that the Outgoing Warrant Agent resign from acting, and the Successor Warrant Agent be appointed to act, on behalf of the Company,
and the Outgoing Warrant Agent is willing to so resign and the Successor Warrant Agent is willing to so act, in connection with the issuance,
registration, transfer, exchange, redemption and exercise of the Warrants and accordingly the Successor Warrant Agent shall be vested
with and shall assume all the authority, powers, rights, immunities, duties, and obligations of the Outgoing Warrant Agent with like effect
as if it were originally named as the Warrant Agent hereunder.

 

WHEREAS, the Company
desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective
rights, limitation of rights, and immunities of the Company, the Successor Warrant Agent, and the holders of the Warrants; and

 

     

     

    

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned
by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the
execution and delivery of this Agreement; and

 

WHEREAS, pursuant to
Sections 7.4.1 and 9.8 of the Prior Warrant Agreement, the Prior Warrant Agreement may be amended by CAH and the Outgoing Warrant Agent
without the consent of the Registered Holders in order to, among other things, (x) add or change any provisions with respect to matters
or questions arising under the Prior Warrant Agreement as the parties thereto may deem necessary or desirable and that the parties deem
shall not adversely affect the interest of the Registered Holders and (y) provide for the delivery of an Alternative Issuance (as defined
below); and

 

WHEREAS, pursuant to
the terms of the Merger Agreement, the Registered Holders shall be delivered an Alternative Issuance; and

 

WHEREAS, in connection
with the Merger, the Company, CAH, the Outgoing Warrant Agent and the Successor Warrant Agent desire to amend and restate the Prior Warrant
Agreement in its entirety.

 

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

 

1.      Appointment of Successor Warrant Agent; Assumption by the Company of CAH Warrants.

 

1.1      Appointment of Successor Warrant Agent; Resignation of Outgoing Warrant Agent.

 

(a)      The Company hereby appoints the Successor Warrant Agent to act as agent for the Company for the Warrants, and the Successor
Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in
this Agreement.

 

(b)      The Outgoing Warrant Agent hereby resigns as agent for the Company for the Warrants and accordingly all of the Outgoing
Warrant Agent’s  right, title and interest in and to the Prior Warrant Agreement (as amended hereby) shall be assigned to
the Successor Warrant Agent as of the Effective Time (as defined in the Merger Agreement) and the Successor Warrant Agent hereby assumes,
and agrees to perform, satisfy and discharge in full, as the same become due, all of the Outgoing
Warrant Agent’s liabilities and obligations under the Prior Warrant Agreement (as amended hereby).

 

(c)      Unless otherwise explicitly referred to herein all references to the “Warrant
Agent” in this Agreement shall be construed as a reference to the Successor Warrant Agent. 

 

    	 	2	 

     

    

 

1.2      Assignment and Assumption; Consent.

 

1.2.1      Assignment and Assumption. CAH hereby assigns to the Company all of CAH’s right, title and interest in and to the
Prior Warrant Agreement (as amended hereby) as of the Effective Time (as defined in the Merger Agreement). The Company hereby assumes,
and agrees to pay, perform, satisfy and discharge in full, as the same become due, all of CAH’s liabilities and obligations under
the Prior Warrant Agreement (as amended hereby).

 

1.2.2      Consent. The Outgoing Warrant Agent hereby consents to the assignment of the Prior Warrant Agreement by CAH to the Company
pursuant to Section 1.2.1 hereof effective as of the Effective Time, and the assumption of the Prior Warrant Agreement (as amended hereby)
by the Company from CAH pursuant to Section 1.2.1 hereof effective as of the Effective Time, and to the continuation of the Prior Warrant
Agreement (as amended hereby) in full force and effect from and after the Effective Time.

 

1.3      Amendment and Restatement of Prior Warrant Agreement. CAH and the Outgoing Warrant Agent hereby amend and restate the Prior
Warrant Agreement as provided in this Section 1.3, effective as of the Effective Time, such that the rights and obligations of the Warrants
shall be governed by the terms of this Agreement, and acknowledge and agree that the amendments to the Prior Warrant Agreement as set
forth in this Agreement are necessary or desirable and that such amendments do not adversely affect the interests of the Registered Holders.

 

2.      Warrants.

 

2.1      Form of Warrant. Each Warrant shall be issued in registered form only, and, if a physical certificate is issued, shall be
in substantially the form of Exhibit A hereto, the provisions of which are incorporated herein and shall be signed by, or bear
the facsimile signature of any of the Chairman of the Board, Chief Executive Officer, Chief Financial Officer, General Counsel or other
principal officer of the Company. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased
to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect
as if he or she had not ceased to be such at the date of issuance.

 

2.2      Effect of Countersignature. If a physical certificate is issued, unless and until countersigned by the Successor Warrant
Agent pursuant to this Agreement (or countersigned by the Outgoing Warrant Agent for the Warrants issued pursuant to the Prior Warrant
Agreement), a Warrant certificate shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.3      Registration.

 

2.3.1      Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”) for the registration
of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall
issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with
instructions delivered to the Warrant Agent by the Company. All of the Warrants shall initially be represented by one or more book-entry
certificates (each, a “Book-Entry Warrant Certificate”) deposited with The Depository Trust Company (the “Depositary”)
and registered in the name of Cede & Co., a nominee of the Depositary. Ownership of beneficial interests in the Warrants shall be
shown on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depositary or its nominee for each
Book-Entry Warrant Certificate, or (ii) institutions that have accounts with the Depositary (each such institution, with respect to a
Warrant in its account, a “Participant”).

 

    	 	3	 

     

    

 

If the Depositary subsequently
ceases to make its book-entry settlement system available for the Warrants, the Company may instruct the Warrant Agent regarding making
other arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer necessary to have
the Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary to deliver to the Warrant
Agent for cancellation each Book-Entry Warrant Certificate, and the Company shall instruct the Warrant Agent to deliver to the Depositary
definitive certificates in physical form evidencing such Warrants (“Definitive Warrant Certificate”). Such Definitive
Warrant Certificate shall be in the form annexed hereto as Exhibit A, with appropriate insertions, modifications and omissions,
as provided above, save that each of the parties agree and acknowledge that any Warrants issued pursuant to the Prior Warrant Agreement
which have been countersigned by the Outgoing Warrant Agent shall be recognized as valid by the Successor Warrant Agent for the purposes
of this Agreement and all relevant provisions of this Agreement shall be construed accordingly.

 

2.3.2      Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent
may deem and treat the person in whose name such Warrant is registered in the Warrant Register (individually, the “Registered
Holder”, and collectively, the “Registered Holders”) as the absolute owner of such Warrant and of each Warrant
represented thereby (notwithstanding any notation of ownership or other writing on a Definitive Warrant Certificate made by anyone other
than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes, and neither the Company nor
the Warrant Agent shall be affected by any notice to the contrary.

 

2.4      No Fractional Warrants. The Company shall not issue fractional Warrants. If a holder of Warrants would be entitled to receive
a fractional Warrant, the Company shall round down to the nearest whole number the number of Warrants to be issued to such holder.

 

3.      Terms and Exercise of Warrants.

 

3.1      Warrant Price. Each whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant
and of this Agreement, to purchase from the Company the number of Common Shares stated therein, at the price of $11.50 per share, subject
to the adjustments provided in Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant
Price” as used in this Agreement shall mean the price per share at which Common Shares may be purchased at the time a Warrant
is exercised. The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below)
for a period of not less than twenty (20) Business Days (as defined below), provided, that the Company shall provide at least twenty (20)
days prior written notice of such reduction to Registered Holders of the Warrants and, provided further that any such reduction shall
be identical among all of the Warrants. The term “Business Day” as used in this Agreement shall mean any day, other
than a Saturday, Sunday or federal holiday, on which banks in New York City are generally open for normal business.

 

    	 	4	 

     

    

 

3.2      Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) commencing
on the date that is thirty (30) days after the date hereof and terminating at 5:00 p.m., New York City time on the earlier to occur of:
(x) the date that is five (5) years after the date hereof or (y) the Redemption Date (as defined below) as provided in Section 6.2
hereof (the “Expiration Date”); provided, however, that the exercise of any Warrant shall be subject
to the satisfaction of any applicable conditions, as set forth in subsection 3.3.2 below with respect to an effective registration
statement or a valid exemption therefrom being available. Except with respect to the right to receive the Redemption Price (as defined
below) to the extent then held by the original purchasers thereof in the event of a redemption (as set forth in Section 6 hereof),
each outstanding Warrant not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in
respect thereof under this Agreement shall cease at 5:00 p.m. New York City time on the Expiration Date. The Company in its sole discretion
may extend the duration of the Warrants by delaying the Expiration Date; provided, that the Company shall provide at least
twenty (20) days prior written notice of any such extension to Registered Holders of the Warrants and, provided further that any such
extension shall be identical in duration among all the Warrants.

 

3.3      Exercise of Warrants.

 

3.3.1      Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder
thereof by delivering to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants
to be exercised, or, in the case of a Book-Entry Warrant Certificate, the Warrants to be exercised (the “Book-Entry Warrants”)
on the records of the Depositary to an account of the Warrant Agent at the Depositary designated for such purposes in writing by the Warrant
Agent to the Depositary from time to time, (ii) an election to purchase (“Election to Purchase”) Common Shares pursuant
to the exercise of a Warrant, properly completed and duly executed by the Registered Holder on the reverse of the Definitive Warrant Certificate
or, in the case of a Book-Entry Warrant Certificate, properly delivered by the Participant in accordance with the Depositary’s procedures,
and (iii) payment in full of the Warrant Price for each full Common Share as to which the Warrant is exercised and any and all applicable
taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the Common Shares and the issuance of such Common
Shares, as follows:

 

(a)      by certified check payable to the order of the Warrant Agent or by wire transfer;

 

(b)      in the event of a redemption pursuant to Section 6 hereof in which the Company’s board of directors (the “Board”)
has elected to require all holders of the Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants
for that number of Common Shares equal to the quotient obtained by dividing (x) the product of the number of Common Shares underlying
the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value”, as defined in this subsection
3.3.1(b) by (y) the Fair Market Value. The Company shall calculate and transmit to the Warrant Agent with written notice, the number
of Common Shares issuable upon such exercise using the formula set forth in this subsection 3.3.1(b). The Warrant Agent shall have
no duty or obligation to investigate or confirm whether the Company’s determination of the number of shares of Common Shares to
be issued on such exercise, pursuant to this subsection 3.3.1(b), is accurate or correct. Solely for purposes of this subsection
3.3.1(b) and Section 6.3, the “Fair Market Value” shall mean the average last sale price of the Common Shares for
the ten (10) trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of
the Warrants, pursuant to Section 6 hereof; or

 

    	 	5	 

     

    

 

(c)      as provided in Section 7.4 hereof.

 

3.3.2      Issuance of Common Shares on Exercise. As soon as practicable after the exercise of any Warrant and the clearance of the
funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered
Holder of such Warrant a book-entry position or certificate, as applicable, for the number of full Common Shares to which he, she or it
is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised
in full, a new book-entry position or countersigned Warrant, as applicable, for the number of Common Shares as to which such Warrant shall
not have been exercised. If fewer than all the Warrants evidenced by a Book-Entry Warrant Certificate are exercised, a notation shall
be made to the records maintained by the Depositary, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate,
evidencing the balance of the Warrants remaining after such exercise. Notwithstanding the foregoing, the Company shall not be obligated
to deliver any Common Shares pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless
a registration statement under the Securities Act with respect to the Common Shares underlying the Warrants is then effective and a prospectus
relating thereto is current, subject to the Company’s satisfying its obligations under Section 7.4. No Warrant shall be exercisable
and the Company shall not be obligated to issue Common Shares upon exercise of a Warrant unless the Common Share issuable upon such Warrant
exercise has been registered, qualified or deemed to be exempt from registration or qualification under the securities laws of the state
of residence of the Registered Holder of the Warrants, except pursuant to Section 7.4. In the event that the conditions in the
two immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise
such Warrant and such Warrant may have no value and expire worthless. In no event will the Company be required to net cash settle the
Warrant exercise. The Company may require holders of Warrants to settle such Warrants on a “cashless basis” pursuant to subsection
3.3.1(b) and Section 7.4. If, by reason of any exercise of Warrants on a “cashless basis”, the holder of any Warrant
would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a Common Share, the Company shall round down
to the nearest whole number, the number of Common Shares to be issued to such holder.

 

3.3.3      Valid Issuance. All Common Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall be
validly issued, fully paid and non-assessable. On the date of this Agreement, the Company shall provide an opinion of counsel which shall
state that all Warrants or Common Shares exercisable under such Warrants, as applicable, are registered under the Securities Act, or are
exempt from such registration, and all Warrants are validly issued and the Common Shares arising upon exercise of such Warrants shall
be validly issued and, subject to payment of the subscription price paid for such Common Shares, fully paid and non-assessable.

 

3.3.4      Date of Issuance. Each person in whose name any book-entry position or certificate, as applicable, for Common Shares is
issued shall for all purposes be deemed to have become the holder of record of such Common Shares on the date on which the Warrant, or
book-entry position representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of
delivery of such certificate in the case of a certificated Warrant, except that, if the date of such surrender and payment is a date when
the share transfer books of the Company or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become
the holder of such Common Shares at the close of business on the next succeeding date on which the share transfer books or book-entry
system are open.

 

    	 	6	 

     

    

 

3.3.5      Maximum Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the
provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection
3.3.5 unless he, she or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise
of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect
to such exercise, such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially
own in excess of 4.9% or 9.8% (or such other amount as a holder may specify)(the “Maximum Percentage”) of the Common
Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Common
Shares beneficially owned by such person and its affiliates shall include the number of Common Shares issuable upon exercise of the Warrant
with respect to which the determination of such sentence is being made, but shall exclude Common Shares that would be issuable upon (x)
exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise or
conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its
affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on
conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this
paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”). For purposes of the Warrant, in determining the number of outstanding Common Shares, the holder
may rely on the number of outstanding Common Shares as reflected in (1) the Company’s most recent annual report on Form 10-K or
20-F, quarterly report on Form 10-Q (if applicable), current report on Form 8-K or Form 6-K or other public filing with the SEC as the
case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or the Transfer Agent setting
forth the number of Common Shares outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the
Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of Common Shares then outstanding.
In any case, the number of outstanding Common Shares shall be determined after giving effect to the conversion or exercise of equity securities
of the Company by the holder and its affiliates since the date as of which such number of outstanding Common Shares was reported. By written
notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder
to any other percentage specified in such notice; provided, however, that any such increase shall not be effective
until the sixty-first (61st) day after such notice is delivered to the Company.

 

4.      Adjustments.

 

4.1      Stock Dividends.

 

4.1.1      Split-Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding
Common Shares is increased by a stock dividend payable in Common Shares, or by a split-up or subdivision of Common Shares or other similar
event, then, on the effective date of such stock dividend, split-up or subdivision or similar event, the number of Common Shares issuable
on exercise of each Warrant shall be increased in proportion to such increase in the outstanding Common Shares. A rights offering to holders
of the Common Shares entitling holders to purchase Common Shares at a price less than the “Fair Market Value” (as defined
below) shall be deemed a stock dividend of a number of Common Shares equal to the product of (i) the number of Common Shares actually
sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or
exercisable for the Common Share) and (ii) one (1) minus the quotient of (x) the price per Common Share paid in such rights offering divided
by (y) the Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into
or exercisable for Common Share, in determining the price payable for Common Share, there shall be taken into account any consideration
received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Fair Market Value”
means the volume weighted average price of the Common Shares as reported during the ten (10) trading day period ending on the trading
day prior to the first date on which the Common Shares trade on the applicable exchange or in the applicable market, regular way, without
the right to receive such rights.

 

    	 	7	 

     

    

 

4.1.2     Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of the Common Shares on account of such Common Shares (or other shares of the Company’s
capital stock into which the Warrants are convertible), other than (a) as described in subsection 4.1.1 above or (b) Ordinary
Cash Dividends (as defined below), then the Warrant Price shall be decreased, effective immediately after the effective date of such
Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Board, in good faith) of any securities
or other assets paid on each Common Share in respect of such Extraordinary Dividend. For purposes of this subsection 4.1.2, “Ordinary
Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis, with the per share
amounts of all other cash dividends and cash distributions paid on the Common Shares during the 365-day period ending on the date of
declaration of such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections
of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to
the number of Common Shares issuable on exercise of each Warrant) does not exceed $0.50.

 

4.2      Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 4.6 hereof, the number
of outstanding Common Shares is decreased by a consolidation, combination, reverse stock split or reclassification of Common Shares or
other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar
event, the number of Common Shares issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding
Common Shares.

 

4.3      Adjustments in Warrant Price. Whenever the number of Common Shares purchasable upon the exercise of the Warrants is adjusted,
as provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying
such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of Common Shares
purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number
of Common Shares so purchasable immediately thereafter.

 

    	 	8	 

     

    

 

4.4      Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding
Common Shares (other than a change under subsections 4.1.1 or 4.1.2 or Section 4.2 hereof or that solely affects
the par value of such Common Shares), or in the case of any merger or consolidation of the Company with or into another entity or conversion
of the Company as another entity (other than a consolidation or merger in which the Company is the continuing corporation and that does
not result in any reclassification or reorganization of the outstanding Common Shares), or in the case of any sale or conveyance to another
entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company
is dissolved, the holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and
conditions specified in the Warrants and in lieu of the Common Shares of the Company immediately theretofore purchasable and receivable
upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or
transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately prior
to such event (the “Alternative Issuance” ); provided, however, that in connection with the closing
of any such consolidation, merger, sale or conveyance, the successor or purchasing entity shall execute an amendment hereto with the Warrant
Agent providing for delivery of such Alternative Issuance; provided, further, that (i) if the holders of the Common
Shares were entitled to exercise a right of election as to the kind or amount of securities, cash or other assets receivable upon such
consolidation or merger, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which
each Warrant shall become exercisable shall be deemed to be the weighted average of the kind and amount received per share by the holders
of the Common Shares in such consolidation or merger that affirmatively make such election, and (ii) if a tender, exchange or redemption
offer shall have been made to and accepted by the holders of the Common Shares under circumstances in which, upon completion of such tender
or exchange offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act
(or any successor rule)) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning
of Rule 12b-2 under the Exchange Act (or any successor rule)) and any members of any such group of which any such affiliate or associate
is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act (or any successor rule)) more than 50% of the outstanding
Common Shares (or other securities convertible into Common Shares), the holder of a Warrant shall be entitled to receive as the Alternative
Issuance, the highest amount of cash, securities or other property to which such holder would actually have been entitled as a stockholder
if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange offer, accepted such offer and all
of the Common Shares held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and
after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in this Section
4; provided, further, that if less than 70% of the consideration receivable by the holders of the Common Shares
in the applicable event is payable in the form of common stock in the successor entity that is listed for trading on a national securities
exchange or is quoted in an established over-the- counter market, or is to be so listed for trading or quoted immediately following such
event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the consummation
of such applicable event by the Company pursuant to a current report on Form 8-K filed with the SEC, the Warrant Price shall be reduced
by an amount (in dollars) (but in no event less than zero) equal to the difference of (i) the Warrant Price in effect prior to such reduction
minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes
Warrant Value” means the value of a Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes
Warrant Model for a Capped American Call on Bloomberg Financial Markets (“Bloomberg”). For purposes of calculating
such amount, (1) Section 6 of this Agreement shall be taken into account, (2) the price of each Common Share shall be the volume
weighted average price of the Common Shares as reported during the ten (10) trading day period ending on the trading day prior to the
effective date of the applicable event, (3) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg
determined as of the trading day immediately prior to the day of the announcement of the applicable event, and (4) the assumed risk-free
interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per Share
Consideration” means (i) if the consideration paid to holders of the Common Shares consists exclusively of cash, the amount
of such cash per Common Share, and (ii) in all other cases, the amount of cash per Common Share, if any, plus the volume weighted average
price of the Common Shares as reported during the ten (10) trading day period ending on the trading day prior to the effective date of
the applicable event. If any reclassification or reorganization also results in a change in Common Shares covered by subsection 4.1.1,
then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4.
The provisions of this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations,
sales or other transfers. In no event will the Warrant Price be reduced to less than the par value per share issuable upon exercise of
the Warrant.

 

    	 	9	 

     

    

 

4.5      Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of Common Shares issuable upon exercise
of a Warrant, the Company shall give reasonably prompt written notice thereof to the Warrant Agent, which notice shall state any new or
amended exercise terms including the Warrant Price resulting from such adjustment and the increase or decrease, if any, in the number
of Common Shares purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation
and the facts upon which such calculation is based. The Warrant Agent shall have no obligation under any section of this Agreement to
determine whether an event requiring such adjustment has occurred, nor to calculate any of the adjustments set forth herein or to investigate
or confirm the Company’s determination of the number of Common Shares to be issued on such exercise. Upon the occurrence of any
event specified in Sections 4.1, 4.2, 4.3 or 4.4, the Company shall give written notice of the occurrence
of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant Register, of the record date or
the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such
event.

 

4.6     No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue
fractional Common Shares upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder
of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon
such exercise, round down to the nearest whole number the number of Common Shares to be issued to such holder.

 

4.7     Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and
Warrants issued after such adjustment may state the same Warrant Price and the same number of Common Shares as is stated in the Warrants
initially issued pursuant to this Agreement; provided, however, that the Company may at any time in its sole discretion
make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant
thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as
so changed.

 

    	 	10	 

     

    

 

4.8      Other Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections
of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid
an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company
shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which
shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent
and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment, provided, however,
that under no circumstances shall the Warrants be adjusted pursuant to this Section 4.8 as a result of any issuance of securities
in connection with the Merger. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended
in such opinion.

 

5.      Transfer and Exchange of Warrants.

 

5.1      Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon
the Warrant Register, upon surrender of such Warrant for transfer, in the case of certificated Warrants, properly endorsed with signatures
properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal
aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated
Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

5.2      Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for
exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered
Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that
except as otherwise provided herein or in any Book-Entry Warrant Certificate or Definitive Warrant Certificate, each Book-Entry Warrant
Certificate and Definitive Warrant Certificate may be transferred only in whole and only to the Depositary, to another nominee of the
Depositary, to a successor depository, or to a nominee of a successor depository; provided further, however, that in
the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and issue
new Warrants in exchange thereof until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer
may be made and indicating whether the new Warrants must also bear a restrictive legend.

 

5.3      Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall
result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant.

 

5.4      Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

    	 	11	 

     

    

 

5.5      Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign by manual, electronic or facsimile
signature and to deliver, in accordance with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions
of this Section 5, and the Company, whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed
on behalf of the Company for such purpose.

 

6.      Redemption.

 

6.1      Redemption of Warrants. Subject to Section 6.3 hereof, not less than all of the outstanding Warrants may be redeemed,
at the option of the Company, at any time while they are exercisable and prior to their expiration, at the office of the Warrant Agent,
upon notice to the Registered Holders of the Warrants, as described in Section 6.2 below, at the price of $0.01 per
Warrant (the “Redemption Price”), provided that the last sales price of the Common Shares reported has been at least
$18.00 per share (subject to adjustment in compliance with Section 4 hereof) (the “Redemption Trigger Price”),
on each of twenty (20) trading days within the thirty (30) trading-day period commencing once the Warrants become exercisable and ending
on the third trading day prior to the date on which notice of the redemption is given; provided further that there is an effective
registration statement covering the Common Shares issuable upon exercise of the Warrants, and a current prospectus relating thereto, available
throughout the Redemption Period (as defined in Section 6.2 below) or the Company has elected to require the exercise of the Warrants
on a “cashless basis” pursuant to subsection 3.3.1(b) and such cashless exercise is exempt from registration under
the Securities Act.

 

6.2      Date Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants pursuant to
Section 6.1, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall
be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (such period,
the “Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall
appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given
whether or not the Registered Holder received such notice.

 

6.3     Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance
with subsection 3.3.1(b) of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant
to Section 6.2 hereof and prior to the Redemption Date. In the event that the Company determines to require all holders of Warrants
to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1, the notice of redemption shall contain
the information necessary to calculate the number of Common Shares to be received upon exercise of the Warrants, including the “Fair
Market Value” (as such term is defined in subsection 3.3.1(b) hereof) in such case. On and after the Redemption Date, the
record holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

7.      Other Provisions Relating to Rights of Holders of Warrants.

 

7.1      No Rights as Stockholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a stockholder
of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights
to vote or to consent or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors of
the Company or any other matter.

 

    	 	12	 

     

    

 

7.2      Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and
the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a
mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen,
mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the
allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3      Reservation of Common Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued
Common Shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

7.4      Registration of Common Shares; Cashless Exercise at Company’s Option.

 

7.4.1      Registration of the Common Shares. The Company agrees that as soon as practicable, but in no event later than fifteen (15)
Business Days after the closing of the Merger, it shall use its best efforts to file with the SEC a registration statement for the registration,
under the Securities Act, of the Common Shares issuable upon exercise of the Warrants. The Company shall use its best efforts to cause
the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto,
until the expiration of the Warrants in accordance with the provisions of this Agreement. If any such registration statement has not been
declared effective by the 60th Business Day following the closing of the Merger, holders of the Warrants shall have the right, during
the period beginning on the 61st Business Day after the closing of the Merger and ending upon such registration statement being declared
effective by the SEC, and during any other period when the Company shall fail to have maintained an effective registration statement covering
the Common Shares issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless basis,” by exchanging the
Warrants (in accordance with Section 3(a)(9) of the Securities Act (or any successor rule) or another exemption) for that number of Common
Shares equal to the quotient obtained by dividing (x) the product of the number of Common Shares underlying the Warrants, multiplied by
the difference between the Warrant Price and the “Fair Market Value” (as defined below) by (y) the Fair Market Value. Solely
for purposes of this subsection 7.4.1, “Fair Market Value” shall mean the volume weighted average price of the Common
Shares as reported during the ten (10) trading day period ending on the trading day prior to the date that notice of exercise is received
by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of cashless exercise
is received by the Warrant Agent shall be conclusively determined by the Warrant Agent. The Company shall calculate and transmit to the
Warrant Agent with written notice, the number of Common Shares issuable upon such exercise using the formula set forth in this subsection
7.4.1. The Warrant Agent shall have no duty or obligation to investigate or confirm whether the Company’s determination of the
number of shares of Common Shares to be issued on such exercise, pursuant to this subsection 7.4.1, is accurate or correct. In
connection with the “cashless exercise” of a Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion
of counsel for the Company (which shall be an outside law firm with securities law experience) stating that (i) the exercise of the Warrants
on a cashless basis in accordance with this subsection 7.4.1 is not required to be registered under the Securities Act and (ii)
the Common Shares issued upon such exercise shall be freely tradable under United States federal securities laws by anyone who is not
an affiliate (as such term is defined in Rule 144 under the Securities Act (or any successor statute)) of the Company and, accordingly,
shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance of any doubt, unless
and until all of the Warrants have been exercised or have expired, the Company shall continue to be obligated to comply with its registration
obligations under the first three sentences of this subsection 7.4.1.

 

    	 	13	 

     

    

 

7.4.2      Cashless Exercise at Company’s Option. If the Common Shares are at the time of any exercise of a Warrant not listed
on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of
the Securities Act (or any successor statute), the Company may, at its option, (i) require holders of Warrants who exercise Warrants to
exercise such Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act (or any successor statute)
as described in subsection 7.4.1 and (ii) in the event the Company so elects, the Company shall not be required to file or maintain
in effect a registration statement for the registration, under the Securities Act, of the Common Shares issuable upon exercise of the
Warrants, notwithstanding anything in this Agreement to the contrary. If the Company does not elect at the time of exercise to require
a holder of Warrants who exercises Warrants to exercise such Warrants on a “cashless basis,” it agrees to use its best efforts
to register or qualify for sale the Common Shares issuable upon exercise of the Warrant under the blue sky laws of the state of residence
of the exercising Warrant holder to the extent an exemption is not available.

 

8.      Concerning the Warrant Agent and Other Matters.

 

8.1      Payment of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company
or the Warrant Agent in respect of the issuance or delivery of Common Shares upon the exercise of the Warrants, but the Company shall
not be obligated to pay any transfer taxes in respect of the Warrants or such Common Shares.

 

8.2      Resignation, Consolidation, or Merger of Warrant Agent.

 

8.2.1      Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties
and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company.
If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty
(30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of a Warrant (who
shall, with such notice, submit the holder’s Warrant for inspection by the Company), then the holder of any Warrant may apply to
the Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s
cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under
the laws of the State of New York, in good standing and having its principal office in the United States of America, and authorized under
such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment,
any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor
Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any
reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an
instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder;
and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing
for more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities,
duties, and obligations.

 

    	 	14	 

     

    

 

8.2.2      Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice
thereof to the predecessor Warrant Agent and the Transfer Agent for the Common Shares not later than the effective date of any such appointment.

 

8.2.3     Merger or Consolidation of Warrant Agent. Any entity into which the Warrant Agent may be merged or with which it may be
consolidated or any entity resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor
Warrant Agent under this Agreement without any further act.

 

8.3      Fees and Expenses of Warrant Agent.

 

8.3.1      Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent
hereunder in accordance with a fee schedule to be mutually agreed upon and shall, pursuant to its obligations under this Agreement, the
Company agrees to reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution
of its duties hereunder, including the reasonable and properly incurred compensation and expenses of the Warrant Agent’s agents
and legal counsel as agreed.

 

8.3.2      Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant
Agent for the carrying out or performing of the provisions of this Agreement.

 

8.4      Liability of Warrant Agent.

 

8.4.1      Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem
it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder,
such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved
and established by a statement signed by any of the Chief Executive Officer, Chief Financial Officer, General Counsel or Chairman of the
Board of the Company and delivered to the Warrant Agent. The Warrant Agent may also consult with legal counsel for the Warrant Agent or
the Company with respect to any matter arising in connection with the services to be performed by the Warrant Agent under this Agreement.
The Warrant Agent and its agents shall not be liable and shall be indemnified, subject to the provisions of Section 8.4.2 below, by Company
for any action taken or omitted by the Warrant Agent in reliance upon any Company instructions or upon the advice or opinion of such counsel
in the absence of bad faith (which bad faith must be determined by a final, non-appealable order, judgment, decree or ruling of a court
of competent jurisdiction). The Warrant Agent shall not be held to have notice of any change of authority of any person, until receipt
of written notice thereof from the Company.

 

    	 	15	 

     

    

 

8.4.2      Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith
(which gross negligence, willful misconduct or bad faith must be determined by a final, non-appealable order, judgment, decree or ruling
of a court of competent jurisdiction). The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities,
including judgments, costs and reasonable counsel fees, for anything done or omitted by the Warrant Agent or to which it may become subject,
arising from or out of, directly or indirectly, any claims or liability resulting from its actions as Warrant Agent pursuant to this Agreement,
except as a result of the Warrant Agent’s gross negligence, willful misconduct or bad faith (which gross negligence, willful misconduct
or bad faith must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction).

 

8.4.3      Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect
to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any
breach by the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible
to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any
such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder
be deemed to make any representation or warranty as to the authorization or reservation of any Common Shares to be issued pursuant to
this Agreement or any Warrant or as to whether any Common Shares shall, when issued, be valid and fully paid and non-assessable.

 

8.4.4      Limitation of Liability. Notwithstanding anything contained herein to the contrary, the Warrant Agent’s aggregate
liability during any term of this Agreement with respect to, arising from, or arising in connection with this Agreement, or from all services
provided or omitted to be provided under this Agreement, whether in contract, or in tort, or otherwise, is limited to, and shall not exceed,
the amounts paid hereunder by the Company to the Warrant Agent as fees and charges, but not including any reimbursed expenses, during
the twelve (12) months immediately preceding the event for which recovery from the Warrant Agent is being sought.

 

8.4.5      Consequential Damages. Neither party to this Agreement shall be liable to the other party for any consequential, indirect,
special or incidental damages under any provisions of this Agreement or for any consequential, indirect, punitive, special or incidental
damages arising out of any act or failure to act hereunder even if that party has been advised of or has foreseen the possibility of such
damages.

 

8.4.6      Survival. The Company’s obligations pursuant to this Section 8.4 shall survive the termination of this Agreement
or removal of the Warrant Agent.

 

8.5      Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the
same upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants
exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of Common Shares
through the exercise of the Warrants.

 

    	 	16	 

     

    

 

8.6      Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date
of the Prior Warrant Agreement, by and between CAH and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Warrant Agent hereby waives
any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account.

 

8.7      Bank Accounts. All funds received by Computershare under this Agreement that are to be distributed or applied by Computershare
in the performance of services under this Agreement (the “Funds”) shall be held by Computershare as agent for the Company
and deposited in one or more bank accounts to be maintained by Computershare in its name as agent for the Company. Until paid pursuant
to the terms of this Agreement, Computershare will hold the Funds through such accounts in: deposit accounts of commercial banks with
Tier 1 capital exceeding $1 billion or with an average rating above investment grade by S&P (LT Local Issuer Credit Rating), Moody’s
(Long Term Rating) and Fitch Ratings, Inc. (LT Issuer Default Rating) (each as reported by Bloomberg Finance L.P.). Computershare shall
have no responsibility or liability for any diminution of the Funds that may result from any deposit made by Computershare in accordance
with this paragraph, including any losses resulting from a default by any bank, financial institution or other third party. Computershare
may from time to time receive interest, dividends or other earnings in connection with such deposits. Computershare shall not be obligated
to pay such interest, dividends or earnings to the Company, any holder or any other party.

 

8.8       Delivery of Exercise Price. The Warrant Agent shall forward Funds received for Warrant exercises in a given month by the
5th Business Day of the following month by wire transfer to an account designated by the Company.

 

8.9      Force Majeure. Notwithstanding anything to the contrary contained herein, the Warrant Agent will not be liable for any delays
or failures in performance resulting from acts beyond its reasonable control including, without limitation, acts of God, terrorist acts,
shortage of supply, breakdowns or malfunctions, interruptions or malfunction of computer facilities, or loss of data due to power failures
or mechanical difficulties with information storage or retrieval systems, labor difficulties, war, or civil unrest.

 

8.10     Confidentiality. The Warrant Agent and the Company agree that all books, records, information and data pertaining to the
business of the other party, including inter alia, personal, non-public warrant holder information, which are exchanged or received
pursuant to the negotiation or the carrying out of this Agreement including the fees for services set forth in the attached schedule shall
remain confidential, and shall not be voluntarily disclosed to any other person, except as may be required by law, including, without
limitation, pursuant to (i) subpoenas from state or federal government authorities (e.g., in divorce and criminal actions) or (ii) securities
law disclosure rule or disclosure rules of the Commission or any stock exchange.

 

8.11     Further Assurances. The Company shall perform, acknowledge and deliver or cause to be performed, acknowledged and delivered
all such further and other acts, documents, instruments and assurances as may be reasonably required by the Warrant Agent for the carrying
out or performing by the Warrant Agent of the provisions of this Agreement.

 

    	 	17	 

     

    

 

9.      Miscellaneous Provisions.

 

9.1      Successors. All the covenants and provisions of this Agreement by or for the benefit of the parties hereto shall bind and
inure to the benefit of their respective successors and assigns.

 

9.2      Notices. Any notice, statement or demand authorized by this Agreement to be given or made by the Outgoing Warrant Agent
or the Successor Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by
hand or overnight delivery or if sent by certified mail or private courier service after deposit of such notice, postage prepaid, addressed
(until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

LumiraDx Limited

c/o Ocorian Trust (Cayman) Limited

PO Box 1350, Windward 3, Regatta Office Park

Grand Cayman KY1-1108

Cayman Islands

Attention: General Counsel

 

Any notice, statement or demand
authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Outgoing Warrant Agent shall
be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service after
deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Outgoing Warrant Agent with the Company),
as follows:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attention: Compliance Department

 

Any notice, statement or demand
authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Successor Warrant Agent shall
be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service after
deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Successor Warrant Agent with the
Company), as follows:

 

Computershare Inc.,

Computershare Trust Company, N.A.,

150 Royall Street

Canton, MA 02021

Attention: Client Services

 

    	 	18	 

     

    

 

9.3      Applicable Law; Exclusive Forum. The validity, interpretation and performance of this Agreement and of the Warrants
shall be governed in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction. The parties hereby agree that any action, proceeding or claim
against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York
or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction
shall be the exclusive forum for any such action, proceeding or claim. The parties hereby waive any objection to such exclusive jurisdiction
and that such courts represent an inconvenient forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to
suits brought to enforce any liability or duty created by the Exchange Act or any other claim for which the federal district courts of
the United States of America are the sole and exclusive forum.

 

Any person or entity
purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented to the forum provisions
in this Section 9.3. If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court
other than a court located within the State of New York or the United States District Court for the Southern District of New York (a “Foreign
Action”) in the name of any warrant holder, such warrant holder shall be deemed to have consented to: (x) the personal jurisdiction
of the state and federal courts located within the State of New York or the United States District Court for the Southern District of
New York in connection with any action brought in any such court to enforce the forum provisions (an “Enforcement Action”),
and (y) having service of process made upon such warrant holder in any Enforcement Action by service upon such warrant holder’s
counsel in the Foreign Action as agent for such warrant holder.

 

9.4      Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any
person or entity other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under or by reason
of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises,
and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto, and their successors and
assigns and of the Registered Holders of the Warrants.

 

9.5      Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office
of the Warrant Agent in United States of America, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require
any such holder to submit such holder’s Warrant for inspection by the Warrant Agent.

 

9.6      Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts
shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.
Signatures to this Agreement transmitted by electronic mail in PDF form, or by any other electronic means designed to preserve the original
graphic and pictorial appearance of a document (including DocuSign), will be deemed to have the same effect as physical delivery of the
paper document bearing the original signatures.

 

9.7      Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not
affect the interpretation thereof.

 

    	 	19	 

     

    

 

9.8      Amendments. This Agreement may be amended by the parties hereto without the consent of any Registered Holder (i) for the
purpose of curing any ambiguity, or curing, correcting or supplementing any mistake including to conform the provisions of this Agreement
to the description of the terms of the Warrants and this Agreement set forth in the Prospectus or any defective provision contained herein
or adding or changing any other provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary
or desirable and that the parties deem shall not adversely affect the interest of the Registered Holders, and (ii) to provide for the
delivery of Alternative Issuance pursuant to Section 4.4. All other modifications or amendments, including any amendment to increase the
Warrant Price or shorten the Exercise Period, shall require the vote or written consent of the Registered Holders of a majority of the
then outstanding Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise
Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the Registered Holders. No supplement or amendment
to this Agreement shall be effective unless duly executed by the Warrant Agent and the Company. As a condition precedent to the Warrant
Agent’s execution of any amendment, the Company shall deliver to the Warrant Agent a certificate from a duly authorized officer
of the Company that states that the proposed amendment is in compliance with the terms of this Section 9.8.

 

9.9      Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision
hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof; further, provided,
however, that if such excluded provision shall materially and adversely affect the rights, immunities, liabilities, duties or obligations
of the Warrant Agent, the Warrant Agent shall be entitled to resign immediately upon written notice to the Company. Furthermore, in lieu
of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement
a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

9.10     Entire Agreement. This Agreement constitutes the entire understanding of the parties and supersedes all prior agreements,
understandings, arrangements, promises and commitments, whether written or oral, express or implied, relating to the subject matter hereof,
and all such prior agreements, understandings, arrangements, promises and commitments are hereby canceled and terminated.

 

[Signature Page Follows]

 

    	 	20	 

     

    

 

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

 

	 	LUMIRADX LIMITED
	 	 	 
	 	 	 
	 	By:	/s/Veronique Ameye
	 	Name:	Veronique Ameye
	 	Title:	Authorised Signatory

 

 

[Signature Page to Amended and Restated Warrant
Agreement]

 

     

     

    

 

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

  

	 	CA HEALTHCARE ACQUISITION CORP.
	 	 	 
	 	 	 
	 	By:	/s/ Larry J. Neiterman
	 	Name:	Larry J. Neiterman
	 	Title:	Chief Executive Officer

 

 

[Signature Page to Amended and Restated Warrant
Agreement]

 

     

     

    

 

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

  

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	/s/ Douglas Reed
	 	Name:	Douglas Reed
	 	Title:	Vice President

 

 

[Signature Page to Amended and Restated Warrant
Agreement]

 

     

     

    

 

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

  

	 	COMPUTERSHARE INC., and COMPUTERSHARE TRUST COMPANY, N.A., as Warrant Agent
	 	On Behalf of Both Entities
	 	 	 
	 	 	 
	 	By:	/s/ Collin Ekeogu
	 	Name:	Collin Ekeogu
	 	Title:	Manager, Corporate Actions

 

  

[Signature Page to Amended and Restated Warrant
Agreement]

 

     

     

    

 

	
     

    Number
	
    EXHIBIT A

    [Form of Warrant Certificate]

    [FACE]

     

    Warrants

    THIS WARRANT SHALL BE VOID IF NOT

    EXERCISED PRIOR TO THE EXPIRATION
    OF THE

    EXERCISE PERIOD PROVIDED FOR IN THE

    WARRANT AGREEMENT DESCRIBED BELOW

    LUMIRADX LIMITED

    A Cayman Island Exempted Company Limited by
    Shares

    With Company Number 314391
	
     

     

     

     

     

     

     

     

    CUSIP 12510W 115

     

 

Warrant Certificate

 

This Warrant
Certificate certifies that [___], or registered assigns, is the registered holder of warrant(s) evidenced hereby (the “Warrants”
and each, a “Warrant”) to purchase common shares, US$0.0000028 par value per share (the “Common Shares”),
of LumiraDx Limited, a Cayman Islands exempted company limited by shares with company number 314391 (the “Company”).
Each whole Warrant entitles the holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive
from the Company that number of fully paid and non-assessable Common Shares as set forth below, at the exercise price (the “Warrant
Price”) as determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless exercise”
as provided for in the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and payment of the
Warrant Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant
Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant
Agreement.

 

Each whole Warrant
is initially exercisable for one fully paid and non-assessable Common Share. No fractional shares will be issued upon exercise of any
Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in a Common Share, the Company
will, upon exercise, round down to the nearest whole number the number of Common Shares to be issued to the Warrant holder. The number
of Common Shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set forth in the
Warrant Agreement.

 

The initial Warrant
Price per Common Share for any Warrant is equal to $11.50 per share. The Warrant Price is subject to adjustment upon the occurrence of
certain events set forth in the Warrant Agreement.

 

Subject to the
conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised
by the end of such Exercise Period, such Warrants shall become void. The Warrants may be redeemed, subject to certain conditions, as set
forth in the Warrant Agreement.

 

Reference is hereby
made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes
have the same effect as though fully set forth at this place.

 

This Warrant Certificate shall
not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This Warrant Certificate
shall be governed by and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws
principles thereof.

 

[Signature Page Follows]

  

     

     

    

 

	 	LUMIRADX LIMITED
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 	 
	 	COMPUTERSHARE INC., and COMPUTERSHARE TRUST COMPANY, N.A., as
	 	Warrant Agent
	 	On Behalf of Both Entities
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

 

[Signatures Page to Warrant
Certificate]

  

     

     

    

 

[Form of Warrant Certificate]

[Reverse]

 

The Warrants evidenced
by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive Common Shares
and are issued or to be issued pursuant to a Warrant Agreement dated as of [___], 2021 (the “Warrant Agreement”), duly
executed and delivered by the Company to Computershare Inc., a Delaware corporation, and its wholly-owned subsidiary, Computershare Trust
Company, N.A., a federally chartered trust company, collectively as warrant agent (the “Warrant Agent”), which Warrant
Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the
rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders (the words
“holders” or “holder” meaning the Registered Holders or Registered Holder, respectively) of the
Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms used
in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Warrants may be exercised
at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate
may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed
and executed, together with payment of the Warrant Price as specified in the Warrant Agreement (or through “cashless exercise”
as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise
of Warrants evidenced hereby the number of Warrants exercised shall be less than the total number of Warrants evidenced hereby, there
shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised.

 

Notwithstanding
anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a registration
statement covering the Common Shares to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder
relating to the Common Shares is current, except through “cashless exercise” as provided for in the Warrant Agreement.

 

The Warrant Agreement
provides that upon the occurrence of certain events the number of Common Shares issuable upon exercise of the Warrants set forth on the
face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive
a fractional interest in a Common Share, the Company shall, upon exercise, round down to the nearest whole number of Common Shares to
be issued to the holder of the Warrant.

 

Warrant Certificates,
when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person or by legal representative
or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement,
but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate
a like number of Warrants.

 

Upon due presentation
for registration of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates
of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant
Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge
imposed in connection therewith.

 

The Company and
the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding
any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the
holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

Neither the Warrants nor this
Warrant Certificate entitles any holder hereof to any rights of a stockholder of the Company.

 

     

     

    

 

Election to Purchase

(To Be Executed Upon Exercise of
Warrant)

 

The undersigned hereby
irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive Common Shares and herewith tenders payment
for such Common Shares to the order of LumiraDx Limited (the “Company”) in the amount of $ in accordance with the terms
hereof. The undersigned requests that a certificate for such Common Shares be registered in the name of [___], whose address is [___]
and that such Common Shares be delivered to [___] whose address is [___]. If said number of Common Shares is less than all of the Common
Shares purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the remaining balance of such Common
Shares be registered in the name of [___], whose address is [___] and that such Warrant Certificate be delivered to [___], whose address
is [___].

 

In the event that
the Warrant has been called for redemption by the Company pursuant to Section 6.1 of the Warrant Agreement and the Company has
required cashless exercise pursuant to Section 6.3 of the Warrant Agreement, the number of Common Shares that this Warrant is exercisable
for shall be determined in accordance with subsection 3.3.1(b) and Section 6.3 of the Warrant Agreement.

 

In the event that
the Warrant is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the number of
Common Shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant Agreement.

 

In the event that
the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number of Common Shares
that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which allows
for such cashless exercise and (ii) the holder hereof shall complete the following: The undersigned hereby irrevocably elects to exercise
the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive Common
Shares. If said number of Common Shares is less than all of the Common Shares purchasable hereunder (after giving effect to the cashless
exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such Common Shares be registered
in the name of, whose address is and that such Warrant Certificate be delivered to [___], whose address is [___].

 

[Signature Page Follows]

 

     

     

    

 

	Date: [___],2021	 
	 	(Signature)
	 	 
	 	 
	 	(Address)
	 	(Tax Identification Number)

 

 

Signature
Guaranteed:

 

THE SIGNATURE(S) SHOULD BE GUARANTEED
BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 (OR ANY SUCCESSOR RULE)).

 

 

[Signature Page to Election to Purchase]

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