Document:

Exhibit 10.19

 

Indemnification
Agreement

 

This Indemnification
Agreement (this “Agreement”) is made as of , 2014, by and between Cytomedix, Inc., a Delaware corporation (the
“Company”), and (“Indemnitee”).

 

RECITALS

 

WHEREAS,
in the current market and legal environment, qualified persons have become more reluctant to
serve corporations as directors unless they are provided with adequate protection through insurance or adequate indemnification
against significant risks of claims and actions against them arising out of their service to and activities on behalf of the corporation;

 

WHEREAS, directors
and other persons in service to business enterprises are being increasingly subjected to expensive and time consuming litigation;

 

WHEREAS,
the uncertainties relating to liability insurance and to indemnification have increased the difficulty of retaining existing
and attracting future qualified persons to serve on the board and to serve the company in other capacities;

 

WHEREAS, the
Board of Directors of the Company (the “Board”) has determined that, in order to retain current and attract future
qualified individuals to serve on the Board, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability
insurance to protect persons serving the company and its subsidiaries from certain liabilities, even if, given current market conditions
and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions;

 

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

 

WHEREAS, the
Company desires and intends hereby to provide indemnification and advancement of expenses against any and all liabilities asserted
against or incurred by the Indemnitee as allowed by the General Corporation Law of the State of Delaware (including but not limited
to section 145 of said law), and further desires and intends that the terms of indemnification and advancement of costs be reduced
to written agreement;

 

WHEREAS, this
agreement is a supplement to and in furtherance of the indemnification provisions of the Company’s Certificate of Incorporation,
as amended to date, and any resolutions adopted pursuant thereto, and except as specifically provided herein shall not be a substitute
therefor, nor to diminish or abrogate any rights of the Indemnitee.

 

    	 

    	 

    

 

NOW THEREFORE,
in consideration of the premises and the covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company and the Indemnitee do hereby covenant and agree as follows:

 

1.Indemnification.

 

(a)Third-Party
Proceedings. To the fullest extent permitted by applicable law, the Company shall indemnify Indemnitee, if Indemnitee was,
is or is threatened to be made, a party to or a participant (as a witness or otherwise) in any Proceeding (other than a Proceeding
by or in the right of the Company to procure a judgment in the Company’s favor), against all Expenses, judgments, fines and
amounts paid in settlement (if such settlement is approved in advance by the Company, which approval shall not be unreasonably
withheld) actually and reasonably incurred by Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and
in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal
Proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful.

 

(b)Proceedings
By or in the Right of the Company. To the fullest extent permitted by applicable law, the Company shall indemnify Indemnitee,
if Indemnitee was, is or is threatened to be made a party to or a participant (as a witness or otherwise) in any Proceeding by
or in the right of the Company to procure a judgment in the Company’s favor, against all Expenses actually and reasonably
incurred by Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably
believed to be in or not opposed to the best interests of the Company, except that no indemnification shall be made in respect
of any claim, issue or matter as to which Indemnitee shall have been finally adjudicated by court order or judgment to be liable
to the Company unless and only to the extent that the Court of Chancery or the court in which such Proceeding is or was pending
shall determine upon application that, in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled
to indemnity for such expenses which such court shall deem proper.

 

(c)Success
on the Merits. To the fullest extent permitted by applicable law and to the extent that Indemnitee has been successful
on the merits or otherwise in defense of any Proceeding referred to in Section 1(a) or Section 1(b) or the defense of
any claim, issue or matter therein, in whole or in part, the Company shall indemnify Indemnitee against all Expenses actually and
reasonably incurred by Indemnitee in connection therewith. Without limiting the generality of the foregoing, if Indemnitee is successful
on the merits or otherwise as to one or more but less than all claims, issues or matters in a Proceeding, the Company shall indemnify
Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection with such successfully resolved claims,
issues or matters to the fullest extent permitted by applicable law. If any Proceeding is disposed of on the merits or otherwise
(including a disposition without prejudice), without (1) the disposition being adverse to Indemnitee, (ii) an adjudication that
Indemnitee was liable to the Company, (iii) a plea of guilty by Indemnitee, (iv) an adjudication that Indemnitee did not act in
good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and (v)
with respect to any criminal Proceeding, an adjudication that Indemnitee had reasonable cause to believe Indemnitee’s conduct
was unlawful, Indemnitee shall be considered for the purposes hereof to have been wholly successful with respect thereto.

 

    	 

    	 

    

 

(d)Witness
Expenses. To the fullest extent permitted by applicable law and to the extent that Indemnitee is a witness or otherwise
asked to participate in any Proceeding to which Indemnitee is not a party, the Company shall indemnify Indemnitee against all Expenses
actually and reasonably incurred by Indemnitee in connection with such Proceeding.

 

2.Indemnification Procedure.

 

(a)Advancement
of Expenses. To the fullest extent permitted by applicable law, the Company shall advance all Expenses actually and reasonably
incurred by Indemnitee in connection with a Proceeding within thirty (30) days after receipt by the Company of a statement requesting
such advances from time to time, whether prior to or after final disposition of any Proceeding. Such advances shall be unsecured
and interest free and shall be made without regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s
ultimate entitlement to indemnification under the other provisions of this Agreement. Indemnitee shall be entitled to continue
to receive advancement of Expenses pursuant to this Section 2(a) unless and until the matter of Indemnitee’s entitlement
to indemnification hereunder has been finally adjudicated by court order or judgment from which no further right of appeal exists.
Indemnitee hereby undertakes to repay such amounts advanced only if, and to the extent that, it ultimately is determined that Indemnitee
is not entitled to be indemnified by the Company under the other provisions of this Agreement. Indemnitee shall qualify for advances
upon the execution and delivery of this Agreement, which shall constitute the requisite undertaking with respect to repayment of
advances made hereunder and no other form of undertaking shall be required to qualify for advances made hereunder other than the
execution of this Agreement. Notwithstanding any of the foregoing or anything else in this Agreement or any other document to the
contrary, the Indemnittee understands and agrees that the advancement of expenses contemplated hereunder shall be conditioned upon
and subject to the Indemnitee’s full and faithful cooperation with the Company and any insurer in the defense of any matter
and, further that any assistance of a party plaintiff or proposed party plaintiff or any action by an Indemnittee that threatens
(or has such effect of threatening) coverage for any insured under any director & officer insurance liability coverage then
in place and to which the Company is a party, will vitiate the advancement of expenses obligation contemplated hereunder ab
initio.

 

(b)Notice and
Cooperation by Indemnitee. Indemnitee shall promptly notify the Company in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter for which indemnification
will or could be sought under this Agreement. Such notice to the Company shall include a description of the nature of, and facts
underlying, the Proceeding, shall be directed to the Chief Executive Officer of the Company and shall be given in accordance with
the provisions of Section 13(d) below. In addition, Indemnitee shall give the Company such additional information and cooperation
as the Company may reasonably request. Indemnitee’s failure to so notify, provide information and otherwise cooperate with
the Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement, except to the
extent that the Company is adversely affected by such failure.

 

    	 

    	 

    

 

(c)Determination
of Entitlement. Notwithstanding any other provision in this Agreement, no determination as to entitlement to indemnification
under this Agreement shall be required to be made prior to the final disposition of a Proceeding. Subject to the foregoing, promptly
after receipt of a statement requesting payment with respect to the indemnification rights set forth in Section 1, to the
extent required by applicable law, the Company shall take the steps necessary to authorize such payment in the manner set forth
in Section 145 of the General Corporation Law of Delaware. The Company shall pay any claims made under this Agreement, under
any statute, or under any provision of the Company’s Certificate of Incorporation or Bylaws providing for indemnification
or advancement of Expenses, within thirty (30) days after a written request for payment thereof has first been received by the
Company, and if such claim is not paid in full within such thirty (30) day-period, Indemnitee may, but need not, at any time thereafter
bring an action against the Company in the Delaware Court of Chancery to recover the unpaid amount of the claim and, subject to
Section 12, Indemnitee shall also be entitled to be paid for all Expenses actually and reasonably incurred by Indemnitee in
connection with bringing such action. It shall be a defense to any such action (other than an action brought to enforce a claim
for advancement of Expenses under Section 2(a)) that Indemnitee has not met the standards of conduct which make it permissible
under applicable law for the Company to indemnify Indemnitee for the amount claimed. In making a determination with respect to
entitlement to indemnification hereunder, the person or persons or entity making such determination shall presume that Indemnitee
is entitled to indemnification under this Agreement and the Company shall have the burden of proof to overcome that presumption
with clear and convincing evidence to the contrary. The termination of any Proceeding by judgment, order, settlement, conviction,
or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not
act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company,
or, in the case of a criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.
In addition, it is the parties’ intention that if the Company contests Indemnitee’s right to indemnification, the question
of Indemnitee’s right to indemnification shall be for the court to decide, and neither the failure of the Company (including
its Board of Directors, any committee or subgroup of the Board of Directors, independent legal counsel, or its stockholders) to
have made a determination that indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable
standard of conduct required by applicable law, nor an actual determination by the Company (including its Board of Directors, any
committee or subgroup of the Board of Directors, independent legal counsel, or its stockholders) that Indemnitee has not met such
applicable standard of conduct, shall create a presumption that Indemnitee has or has not met the applicable standard of conduct.
If any requested determination with respect to entitlement to indemnification hereunder has not been made within ninety (90) days
after the final disposition of the Proceeding, the requisite determination that Indemnitee’s entitlement to indemnification
shall be deemed to have been made.

 

(d)Payment
Directions. To the extent payments are required to be made hereunder, the Company shall, in accordance with Indemnitee’s
request (but without duplication), (i) pay such Expenses on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount
sufficient to pay such Expenses, or (c) reimburse Indemnitee for such Expenses.

 

(e)Notice to
Insurers. If, at the time of the receipt of a notice of a claim pursuant to Section 2(b) hereof, the Company has director
and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such Proceeding to the insurers
in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable
action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance
with the terms of such policies.

 

    	 

    	 

    

 

(f)Defense
of Claim and Selection of Counsel. In the event the Company shall be obligated under Section 2(a) hereof to advance
Expenses with respect to any Proceeding, the Company, if appropriate, shall be entitled to assume the defense of such Proceeding,
with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election so to do. After
delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will
not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the
same Proceeding, provided that (i) Indemnitee shall have the right to employ counsel in any such Proceeding at Indemnitee’s
expense; and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized by the Company, (B) Indemnitee
shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any
such defense or (C) the Company shall not, in fact, have employed counsel to assume the defense of such Proceeding, then the
fees and expenses of Indemnitee’s counsel shall be at the expense of the Company. In addition, if there exists a potential,
but not an actual conflict of interest between the Company and Indemnitee, the actual and reasonable legal fees and expenses incurred
by Indemnitee for separate counsel retained by Indemnitee to monitor the Proceeding (so that such counsel may assume Indemnitee’s
defense if the conflict of interest between the Company and Indemnitee becomes an actual conflict of interest) shall be deemed
to be Expenses that are subject to indemnification hereunder. The existence of an actual or potential conflict of interest, and
whether such conflict may be waived, shall be determined pursuant to the rules of attorney professional conduct and applicable
law. The Company shall not be required to obtain the consent of Indemnitee for the settlement of any Proceeding the Company has
undertaken to defend if the Company assumes full and sole responsibility for each such settlement; provided, however, that the
Company shall be required to obtain Indemnitee’s prior written approval, which shall not be unreasonably withheld, before
entering into any settlement which (1) does not grant Indemnitee a complete release of liability, (2) would impose any penalty
or limitation on Indemnitee, or (3) would admit any liability or misconduct by Indemnitee.

 

3.Additional Indemnification Rights.

 

(a)Scope.
Notwithstanding any other provision of this Agreement, the Company hereby agrees to indemnify Indemnitee to the fullest extent
permitted by law, notwithstanding that such indemnification is not specifically authorized by the other provisions of this Agreement,
the Company’s Certificate of Incorporation, the Company’s Bylaws, as may be then in effect, or by statute. In the event
of any change, after the date of this Agreement, in any applicable law, statute, or rule which expands the right of a Delaware
corporation to indemnify a member of its board of directors or an officer, such changes shall be deemed to be within the purview
of Indemnitee’s rights and the Company’s obligations under this Agreement. In the event of any change in any applicable
law, statute or rule which narrows the right of a Delaware corporation to indemnify a member of its board of directors or an officer,
such changes, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement shall have no effect
on this Agreement or the parties’ rights and obligations hereunder.

 

    	 

    	 

    

 

(b)Nonexclusivity.
The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled
under the Company’s Certificate of Incorporation, its Bylaws, any agreement, any vote of stockholders or disinterested members
of the Company’s Board of Directors, the General Corporation Law of Delaware, or otherwise, both as to action in Indemnitee’s
official capacity and as to action in another capacity while holding such office.

 

(c)Interest
on Unpaid Amounts. If any payment to be made by the Company to Indemnitee hereunder is delayed by more than ninety (90)
days from the date the duly prepared request for such payment is received by the Company, interest shall be paid by the Company
to Indemnitee at the legal rate under Delaware law for amounts which the Company indemnifies or is obligated to indemnify for the
period commencing with the date on which Indemnitee actually incurs such Expense or pays such judgment, fine or amount in settlement
and ending with the date on which such payment is made to Indemnitee by the Company.

 

(d)Information
Sharing. If Indemnitee is the subject of or is implicated in any way during an investigation, whether formal or informal,
and subject to the execution of a mutually acceptable joint defense and confidentiality agreement, the Company shall share with
Indemnitee any information the Company has furnished to any third parties concerning the investigation provided that, at the time
such information is so furnished to such third party, Indemnitee continues to serve in one or more capacities giving rise to the
Company’s indemnification obligations under Section 1.

 

(e)Third-Party
Indemnification. The Company hereby acknowledges that Indemnitee has or may from time to time obtain certain rights to
indemnification, advancement of expenses and/or insurance provided by one or more third parties (collectively, the “Third-Party
Indemnitors”). The Company hereby agrees that it is the indemnitor of first resort (i.e., its obligations to Indemnitee
are primary and any obligation of the Third-Party Indemnitors to advance expenses or to provide indemnification for the same expenses
or liabilities incurred by Indemnitee are secondary), and that the Company will not assert that the Indemnitee must seek expense
advancement or reimbursement, or indemnification, from any Third-Party Indemnitor before the Company must perform its expense advancement
and reimbursement, and indemnification obligations, under this Agreement. No advancement or payment by the Third-Party Indemnitors
on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect
the foregoing. The Third-Party Indemnitors shall be subrogated to the extent of such advancement or payment to all of the rights
of recovery which Indemnitee would have had against the Company if the Third-Party Indemnitors had not advanced or paid any amount
to or on behalf of Indemnitee. If for any reason a court of competent jurisdiction determines that the Third-Party Indemnitors
are not entitled to the subrogation rights described in the preceding sentence, the Third-Party Indemnitors shall have a right
of contribution by the Company to the Third-Party Indemnitors with respect to any advance or payment by the Third-Party Indemnitors
to or on behalf of the Indemnitee.

 

    	 

    	 

    

 

4.Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for
some or a portion of the Expenses, judgments, fines or amounts paid in settlement, actually and reasonably incurred in connection
with a Proceeding, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the
portion of such Expenses, judgments, fines and amounts paid in settlement to which Indemnitee is entitled.

 

5.Director
and Officer Liability Insurance Tail Coverage. In the event of a Change of Control or the Company’s becoming
insolvent (including being placed into receivership or entering the federal bankruptcy process and the like), the Company shall
maintain in force any and all insurance policies then maintained by the Company in providing insurance (directors’ and officers’
liability, fiduciary, employment practices or otherwise) in respect of Indemnitee, for a period of six years thereafter.

 

6.Severability.
Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in
violation of applicable law. The Company’s inability, pursuant to court order, to perform its obligations under this Agreement
shall not constitute a breach of this Agreement. If this Agreement or any portion hereof shall be invalidated on any ground by
any court of competent jurisdiction, then the Company shall nevertheless indemnify Indemnitee to the full extent permitted by any
applicable portion of this Agreement that shall not have been invalidated, and the balance of this Agreement not so invalidated
shall be enforceable in accordance with its terms.

 

7.Exclusions.
Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

 

(a)Claims Initiated
by Indemnitee. To indemnify or advance Expenses to Indemnitee with respect to Proceedings initiated or brought voluntarily
by Indemnitee or Proceedings in which Indemnity voluntarily assists one or more Plaintiffs in the prosecution of their claims against
the Company, and not by way of defense, except with respect to Proceedings brought to establish, enforce or interpret a right to
indemnification under this Agreement or any other statute or law or otherwise as required under Section 145 of the General
Corporation Law of Delaware, but such indemnification or advancement of Expenses may be provided by the Company in specific cases
if the Board of Directors finds it to be appropriate; provided, however, that the exclusion set forth in the first clause of this
subsection shall not be deemed to apply to any investigation initiated or brought by Indemnitee to the extent reasonably necessary
or advisable in support of Indemnitee’s defense of a Proceeding to which Indemnitee was, is or is threatened to be made,
a party;

 

(b)Lack of
Good Faith. To indemnify Indemnitee for any Expenses incurred by Indemnitee with respect to any Proceeding instituted by
Indemnitee to establish, enforce or interpret a right to indemnification under this Agreement or any other statute or law or otherwise
as required under Section 145 of the General Corporation Law of Delaware, if a court of competent jurisdiction determines
that each of the material assertions made by Indemnitee in such proceeding was not made in good faith or was frivolous;

 

    	 

    	 

    

 

(c)Insured
Claims. To indemnify Indemnitee for Expenses to the extent such Expenses have been paid directly to Indemnitee by an insurance
carrier under an insurance policy maintained by the Company; or

 

(d)Certain
Exchange Act Claims. To indemnify Indemnitee in connection with any claim made against Indemnitee for (i) an accounting
of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning
of Section 16(b) of the Exchange Act or any similar successor statute or any similar provisions of state statutory law or
common law, or (ii) any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation
or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Exchange
Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the
Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from
the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act); provided, however, that
to the fullest extent permitted by applicable law and to the extent Indemnitee is successful on the merits or otherwise with respect
to any such Proceeding, the Expenses actually and reasonably incurred by Indemnitee in connection with any such Proceeding shall
be deemed to be Expenses that are subject to indemnification hereunder.

 

8.Contribution Claims.

 

(a)If the indemnification
provided in Section 1 is unavailable in whole or in part and may not be paid to Indemnitee for any reason other than those
set forth in Section 7, then in respect to any Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such Proceeding), to the fullest extent permitted by applicable law, the Company, in lieu of indemnifying Indemnitee,
shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for Expenses, judgments, fines or amounts paid
in settlement, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby
waives and relinquishes any right of contribution it may have at any time against Indemnitee.

 

(b)With respect to
a Proceeding brought against directors, officers, employees or agents of the Company (other than Indemnitee), to the fullest extent
permitted by applicable law, the Company shall indemnify Indemnitee from any claims for contribution that may be brought by any
such directors, officers, employees or agents of the Company (other than Indemnitee) who may be jointly liable with Indemnitee,
to the same extent Indemnitee would have been entitled to such indemnification under this Agreement if such Proceeding had been
brought against Indemnitee.

 

9.No Imputation.
The knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Company or the Company itself
shall not be imputed to Indemnitee for purposes of determining any rights under this Agreement.

 

    	 

    	 

    

 

10.Determination
of Good Faith. For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith
if Indemnitee’s action is based on the records or books of account of the Enterprise, including financial statements, or
on information supplied to Indemnitee by the officers of the Enterprise in the course of their duties, or on the advice of legal
counsel for the Enterprise or the Board of Directors of the Enterprise or any counsel selected by any committee of the Board of
Directors of the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public
accountant or by an appraiser, investment banker, compensation consultant, or other expert selected with reasonable care by the
Enterprise or the Board of Directors of the Enterprise or any committee thereof. The provisions of this Section 10 shall not
be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have met the
applicable standard of conduct. Whether or not the foregoing provisions of this Section are satisfied, it shall in any event be
presumed that Indemnitee has at all times acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed
to the best interests of the Company.

 

11.Defined
Terms and Phrases. For purposes of this Agreement, the following terms shall have the following meanings:

 

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

 

(b)“Change
of Control” shall be deemed to occur upon the earliest of any of the following events:

 

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

 

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

 

(iii)Corporate
Transaction. The effective date of a reorganization, merger, or consolidation of the Company (a “Business Combination”),
in each case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who were
the Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 51% of the combined voting power of the then outstanding securities
of the Company entitled to vote generally in the election of directors resulting from such Business Combination (including a corporation
which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly
or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business
Combination, of the securities entitled to vote generally in the election of directors and with the power to elect at least a majority
of the Board or other governing body of the surviving entity; (2) no Person (excluding any corporation resulting from such Business
Combination) is the Beneficial Owner, directly or indirectly, of 15% or more of the combined voting power of the then outstanding
securities entitled to vote generally in the election of directors of such corporation except to the extent that such ownership
existed prior to the Business Combination; and (3) at least a majority of the Board of Directors of the corporation resulting from
such Business Combination were Continuing Directors at the time of the execution of the initial agreement, or of the action of
the Board of Directors, providing for such Business Combination.

 

    	 

    	 

    

 

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

 

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

 

(c)“Company”
shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent)
absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify
its directors, officers, and employees or agents, so that if Indemnitee is or was a director, officer, employee or agent of such
constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, trustee, general
partner, managing member, fiduciary, employee or agent of any other enterprise, Indemnitee shall stand in the same position under
the provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee would have with respect to
such constituent corporation if its separate existence had continued.

 

(d)“Enterprise”
means the Company and any other enterprise that Indemnitee was or is serving at the request of the Company as a director, officer,
partner (general, limited or otherwise), member (managing or otherwise), trustee, fiduciary, employee or agent.

 

(e)“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

(f)“Expenses”
shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever, including all attorneys’
fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, fees of private investigators
and professional advisors, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any
federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payment under this
Agreement (including taxes that may be imposed upon the actual or deemed receipt of payments under this Agreement with respect
to the imposition of federal, state, local or foreign taxes), fax transmission charges, secretarial services and all other disbursements,
obligations or expenses in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing
to be a witness in, settlement or appeal of, or otherwise participating in a Proceeding. Expenses also shall include any of the
forgoing expenses incurred in connection with any appeal resulting from any Proceeding, including the principal, premium, security
for, and other costs relating to any costs bond, supersedes bond, or other appeal bond or its equivalent. Expenses also shall include
any interest, assessment or other charges imposed thereon and costs incurred in preparing statements in support of payment requests
hereunder. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against
Indemnitee.

 

    	 

    	 

    

 

(g)“Person”
shall have the meaning as set forth in Section 13(d) and 14(d) of the Exchange Act as in effect on the date hereof; provided, however,
that “Person” shall exclude: (i) the Company; (ii) any direct or indirect majority owned subsidiaries of the Company;
(iii) any employee benefit plan of the Company or any direct or indirect majority owned subsidiaries of the Company or of any corporation
owned, directly or indirectly, by the Company’s stockholders in substantially the same proportions as their ownership of
stock of the Company (an “Employee Benefit Plan”); and (iv) any trustee or other fiduciary holding securities
under an Employee Benefit Plan.

 

(h)“Proceeding”
shall include any actual, threatened, pending or completed action, suit, arbitration, mediation, alternate dispute resolution mechanism,
investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by a third
party, a government agency, the Company or its Board of Directors or a committee thereof, whether in the right of the Company or
otherwise and whether of a civil (including intentional or unintentional tort claims), criminal, administrative, legislative or
investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is, will or might be involved
as a party, potential party, non-party witness or otherwise by reason of the fact that Indemnitee is or was a director, officer,
employee or agent of the Company, by reason of any action (or failure to act) taken by Indemnitee or of any action (or failure
to act) on Indemnitee’s part while acting as a director, officer, employee or agent of the Company, or by reason of the fact
that Indemnitee is or was serving at the request of the Company as a director, officer, partner (general, limited or otherwise),
member (managing or otherwise), trustee, fiduciary, employee or agent of any other enterprise, in each case whether or not serving
in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement or advancement of expenses
can be provided under this Agreement.

 

(i)In addition, references
to “other enterprise” shall include another corporation, partnership, limited liability company, joint venture,
trust, employee benefit plan or any other enterprise; references to “fines” shall include any excise taxes assessed
on Indemnitee with respect to an employee benefit plan; references to “serving at the request of the Company”
shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services
by Indemnitee with respect to an employee benefit plan, its participants, or beneficiaries; and if Indemnitee acted in good faith
and in a manner Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit
plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Company”
as referred to in this Agreement; references to “include” or “including” shall mean include
or including, without limitation; and references to Sections, paragraphs or clauses are to Sections, paragraphs or clauses in this
Agreement unless otherwise specified.

 

    	 

    	 

    

 

12.Attorneys’
Fees. In the event that any Proceeding is instituted by Indemnitee under this Agreement to enforce or interpret any of
the terms hereof, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in
connection with such Proceeding, unless a court of competent jurisdiction determines that each of the material assertions made
by Indemnitee as a basis for such Proceeding were not made in good faith or were frivolous. In the event of a Proceeding instituted
by or in the name of the Company under this Agreement or to enforce or interpret any of the terms of this Agreement, the Company
shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection with such Proceeding
(including with respect to Indemnitee’s counterclaims and cross-claims made in such action), unless a court of competent
jurisdiction determines that each of Indemnitee’s material defenses to such action were made in bad faith or were frivolous.

 

13.Miscellaneous.

 

(a)Governing
Law. This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto
shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles
of conflicts of law.

 

(b)Entire Agreement;
Binding Effect. Without limiting any of the rights of Indemnitee described in Section 3(b), this Agreement sets forth
the entire agreement and understanding of the parties relating to the subject matter herein and merges all prior discussions and
supersedes any and all previous agreements between them covering the subject matter herein. The indemnification provided under
this Agreement applies with respect to events occurring before or after the effective date of this Agreement, and shall continue
to apply even after Indemnitee has ceased to serve the Company in any and all indemnified capacities.

 

(c)Amendments
and Waivers. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall
be effective unless in writing signed by the parties to this Agreement. The failure by either party to enforce any rights under
this Agreement shall not be construed as a waiver of any rights of such party.

 

(d)Notices.
Any notice, demand or request required or permitted to be given under this Agreement shall be in writing and shall be deemed sufficient
when delivered personally or sent by fax or 48 hours after being sent by nationally-recognized courier or deposited in the U.S.
mail, as certified or registered mail, with postage prepaid, and addressed to the party to be notified at such party’s address
or fax number as set forth below or as subsequently modified by written notice.

 

(e)Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together
shall constitute one instrument.

 

    	 

    	 

    

 

(f)Successors
and Assigns. This Agreement shall be binding upon the Company and its successors (including any direct or indirect successor
by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company) and assigns,
and inure to the benefit of Indemnitee and Indemnitee’s heirs, executors, administrators, legal representatives and assigns.
The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise)
to all or substantially all of the business and/or assets of the Company, by written agreement in form and substance satisfactory
to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company
would be required to perform if no such succession had taken place.

 

(g)No Employment
Rights. Nothing contained in this Agreement is intended to create in Indemnitee any right to continued employment.

 

(h) Company
Position. The Company shall be precluded from asserting, in any Proceeding brought for purposes of establishing, enforcing
or interpreting any right to indemnification under this Agreement, that the procedures and presumptions of this Agreement are not
valid, binding and enforceable and shall stipulate in any such court that the Company is bound by all the provisions of this Agreement
and is precluded from making any assertion to the contrary.

 

(i)Subrogation.
In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such
rights and to enable the Company to effectively bring suit to enforce such rights.

 

[Signature Page Follows]

 

    	 

    	 

    

 

The parties have executed this Agreement
as of the date first set forth above.

 

	 	CYTOMEDIX,
    INC.
	 	 
	 	By:	 
	 	(Signature)
	 	 
	 	Name:	 
	 	Title:	 

 

	AGREED TO AND ACCEPTED:	 
	 	 
	INDEMNITEE:	 
	 	 
	 	 
	(PRINT NAME)	 
	 	 
	 	 
	(Signature)Exhibit 10.20

 

SECOND AMENDMENT TO EXCHANGE AND PURCHASE
AGREEMENT

 

THIS SECOND AMENDMENT
TO EXCHANGE AND PURCHASE AGREEMENT (this “Amendment”), dated as of November 11, 2014, amends that Exchange and
Purchase Agreement dated February 8, 2012, as amended by that Amendment to Exchange and Purchase Agreement dated February 18, 2013
(as amended, the “Agreement”), by and among Cytomedix, Inc., a Delaware corporation (“Parent”),
Aldagen, Inc., a Delaware corporation (the “Company”) and Aldagen Holdings, LLC, a North Carolina limited liability
company (“Selling Equity Holder”). Capitalized terms used in this Amendment and not defined herein shall have
the meanings given such terms in the Agreement.

 

W I T N E S S E T H:

 

WHEREAS, Article
II of the Agreement provides for post-closing consideration to be issued by the Parent to the Selling Equity Holder based upon
certain Milestones.

 

WHEREAS, the
parties have reached an agreement regarding the issuance of the Post-Closing Parent Stock Consideration and desire to amend the
Agreement in accordance with such agreement.

 

NOW, THEREFORE, the
parties hereto, intending to be legally bound, hereby agree as follows:

 

1.Article II POST-CLOSING
CONSIDERATION is hereby amended and restated by deleting Article II of the Agreement and replacing it in its entirety as follows:

 

“ARTICLE II

POST-CLOSING CONSIDERATION

 

2.1Post-Closing Consideration.
In full satisfaction of all obligations from the Parent and the Company to the Selling Stockholder under the Agreement, no later
than ten (10) days from the date hereof Parent shall issue 1,270,000 shares of Parent Common Stock to the Selling Equity Holder
(the “Agreed Post-Closing Shares”).”

 

2.Section 9.7(a) of the Agreement
is hereby amended to provide that the final two sentences of such paragraph (a) shall be amended and restated in their entirety
as follows:

 

“Grant of
Registration Rights. The Selling Stockholder shall have the right to include, at any time during the twelve (12) months following
the date of this Amendment, the Agreed Post-Closing Shares as part of registration of securities filed by the Company (other than
a registration statement (i) filed in connection with any employee stock option or other benefit plan pursuant to Form S-8 or any
equivalent form, (ii) for an exchange offer or offering of securities solely to the Company’s existing shareholders, or (iii)
for a dividend reinvestment plan), in each case on the same terms and conditions as any similar securities of the Company being
registered (other than duration of the registration rights, which shall be governed solely by this Section) and to permit the sale
or other disposition of such Agreed Post-Closing Shares in accordance with the intended method(s) of distribution thereof only
to the extent such Agreed Post-Closing Shares have not been previously registered for resale by the Selling Stockholder or are
otherwise able to be resold immediately without registration under the Securities Act either pursuant to Rule 144 of the Securities
Act or otherwise; provided, however, that, in the case of an underwritten offering, if, in the written opinion of the Company’s
managing underwriter or underwriters, if any, for such offering, the inclusion of the Agreed Post-Closing Shares, when added to
the securities being registered by the Company or the selling stockholder(s), will exceed the maximum amount of the Company’s
securities which can be marketed without materially and adversely affecting the entire offering, then the Company will still be
required to include the Agreed Post-Closing Shares, but may require the Selling Stockholder to agree, in writing, to delay the
sale of all or any portion of the Agreed Post-Closing Shares for a period of ninety (90) days from the effective date of the underwritten
offering.

 

    	 

    	 

    

 

The Company shall bear
all fees and expenses attendant to registering the Agreed Post-Closing Shares contemplated hereunder. In the event of such a proposed
registration, the Company shall furnish the then Selling Stockholder of outstanding Agreed Post-Closing Shares with not less than
five (5) days written notice prior to the proposed date of filing of such registration statement. The holders of the Agreed Post-Closing
Shares shall exercise the “piggy-back” rights provided for herein by giving written notice, within five (5) days of
the receipt of the Company’s notice of its intention to file a registration statement.”

 

3.Each
of the Selling Stockholder and the Parent, for itself and its respective direct and indirect affiliates, members, officers, directors
and managers (the “Releasing Parties”), for and in consideration of the execution and delivery of this Agreement and
the issuance of the Agreed Post-Closing Shares, does hereby fully, finally and forever release, acquit and discharge the other
party to this Agreement (as well as its successors and assigns) and each of their directors, managers, officers, employees, agents,
shareholders, members, partners, owners, attorneys, principals and fiduciaries (the “Released Parties”), from any and
all claims, causes of action, liabilities, obligations, demands, costs and expenses of every kind and nature whatsoever, whether
direct or indirect, absolute or contingent, liquidated or unliquidated or due or to become due, whether based upon contract, tort,
act, omission, representation, negligence, tortious interference with contractual relations or any other claim, which the Releasing
Parties even had or now have against the Released Parties as it relates to the Agreement, the Milestone Event or the issuance of
Parent Common Stock to the Selling Stockholder; provided, however that, for the avoidance of doubt, the foregoing shall
in no way release claims with respect to matters which specifically survive the Closing pursuant to the express terms of this Agreement.

 

4.Except as expressly provided
in this Amendment, the Agreement is hereby confirmed and ratified in all respects.

 

5.This Amendment may be
executed in counterparts (whether facsimile or original), each of which shall be deemed to be an original as against the party
whose signature appears thereon, and both of which shall together constitute one and the same instrument.

 

    	 

    	 

    

 

 

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be executed as of the date first written above by their respective officers thereunto
duly authorized.

 

	 	CYTOMEDIX, INC.
	 	 
	 	 
	 	By:	/s/
    Martin Rosendale
	 	Name: Martin Rosendale
	 	Title: Chief Executive Officer
	 	 
	 	 
	 	ALDAGEN, INC.
	 	 
	 	 
	 	By:	/s/ Martin Rosendale
	 	Name: Martin Rosendale
	 	Title: Chief Executive Officer
	 	 
	 	 
	 	ALDAGEN HOLDINGS, LLC
	 	 
	 	 
	 	By:	/s/ William  Brooke
	 	Name:  William W. Brooke
	 	Title: Manager

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}]]