Document:

DISTRIBUTOR AGREEMENT AND LICENSE

 

THIS DISTRIBUTOR AGREEMENT
AND LICENSE is made and entered into as of August 7, 2013 (this “Agreement”), between CYTOMEDIX, INC., a Delaware
corporation, with principal office at 209 Perry Parkway, Suite 7, Gaithersburg, MD 20877 (“Cytomedix”), and ARTHREX,
INC., a Delaware corporation, with its principal office at 1370 Creekside Boulevard, Naples, FL 34108-1945 (“Distributor”).
Each of Cytomedix and Distributor is hereinafter referred to as a “Party” and collectively the “Parties.”

 

R E C I T A L S

 

A. Cytomedix is
the owner of certain rights pursuant to which it has commercialized a multi-functional cell separation device which produces concentrated
platelet rich plasma for use in the operating room and clinic offered as the Angel® Concentrated Platelet Rich Plasma System.

 

B. Distributor has
facilities and experience in the distribution, sale and service of medical devices in the Territory (defined below), and desires
to become the exclusive and non-exclusive distributor and an authorized service provider for the Products (defined below) in the
Field of Use (defined below), pursuant to the terms of this Agreement.

 

A G R E E M E N T

 

NOW, THEREFORE, in
consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged,
the parties intending to be legally bound agree as follows:

 

1. DEFINITIONS.
When used herein, capitalized terms shall have the following meanings:

 

“Affiliate”
means, in respect of any specified Person, any other Person which, but only for so long as such other Person, directly or indirectly,
controls, is controlled by, or is under common control with, such specified Person. The term “control” means the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, through the ownership
of voting securities or other equity interests, and the terms “controlled” and “common control” have correlative
meanings.

 

“Arthrex Kit”
means the kits designed by Arthrex for PRP production from whole blood and from bone marrow.

 

“Change of Control”
means: (i) the direct or indirect sale or other disposition (in one or more related transactions to one or more parties) of all
or substantially all of the assets of a Party, or (ii) the direct or indirect transfer of 50% or more of the outstanding voting
interest of a Party, whether in a single transaction or series of related transactions.

 

“Cytomedix Marks”
means any and all trademarks, trade names, service marks, service names, logos and similar proprietary rights whether now or in
the future owned, controlled or licensed by Cytomedix and currently used or to be used in connection with the Products.

 

    	 

    	 

    

 

“Exclusive Field
of Use” the use of the Product in the Territory for all uses in human and veterinary applications other than human chronic
wound care which is expressly excluded and the Non-Exclusive Field of Use.

 

“Field of Use”
means Exclusive Field of Use and the Non-Exclusive Field of Use within the Territory.

 

“Gross Sales Revenue”
means the total consideration invoiced by Distributor from the commercialization and sale of the Products by Distributor.

 

“Intellectual Property
Rights” means, collectively, Patents, Trade Secrets, Copyrights, Trademarks, moral rights, trade names, rights in trade dress
and all other intellectual property rights and proprietary rights, whether arising under the laws of the United States or any other
state, country or jurisdiction in the world, including all rights or causes of action for infringement or misappropriation of any
of the foregoing. For purposes of this Agreement: (a) “Patents” shall have the meaning set forth below; (b) “Trade
Secrets” shall mean all right, title and interest in all trade secrets and trade secret rights arising under common law,
state law, federal law or laws of foreign countries; (c) “Copyrights” shall mean all copyrights, and all other literary
property and authorship rights, and all right, title, and interest in all copyrights, copyright registrations, certificates of
copyright and copyrighted interests throughout the world; and (d) “Trademarks” shall mean all right, title and interest
in all trademark, service mark, trade name and trade dress rights arising under the common law, state law, federal laws and laws
of foreign countries, and all right, title, and interest in all trademark, service mark, trade name and trade dress applications
and registrations interests throughout the world.

 

“Know-how”
means any and all current and future know-how, technical information, technical knowledge, unpatentable inventions, manufacturing
procedures, methods, trade secrets, processes, formulas, documentation and other tangible or intangible property or rights relating
to the Products, whether or not capable of precise separate description but which alone, or when accumulated, gives to the Person
acquiring it an ability to study, test, formulate, manufacture, produce or market something which it otherwise would not have known
to study, test, formulate, manufacture, produce or market in the same or similar way.

 

“Non-Exclusive
Field of Use” means use of the Products in the human non-surgical dermal and non-surgical aesthetics markets.

 

“Patent”
means any patent application or patent, including all of the following kinds and their equivalents outside the United States (as
applicable): provisional, converted provisional (or regular), divisional, continuation, continuation-in-part, and substitution
applications; and regular utility, re-issue, re-examination, renewal and extended patents (including Supplementary Protection Certificates),
as well as all right, title and interest in all letters patent or equivalent rights and applications for letters patent or rights,
industrial and utility models, industrial designs, petty patents, patents of importation, patents of addition, certificates of
invention and other government issued or granted indicia of invention ownership, including any reissue, extension, division, continuation
or continuation-in-part applications throughout the world.

 

“Person”
means any natural person or any corporation, partnership, limited liability company, business association, joint venture or other
entity.

 

“Product”
means the cell separations device and single use processing kits listed in Exhibit A-1 attached hereto.

 

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“Territory”
means worldwide.

 

“Point of Shipment”
as defined in the Uniform Commercial Code as adopted by the State of Delaware refers to Cytomedix’s manufacturing facilities.

 

“Sale Transaction”
means a transaction pursuant to which Distributor acquires from Cytomedix all or substantially all of the assets constituting the
Products including, but not limited to, the Intellectual Property.

 

“Transition Event”
means an event linked to the transition from Cytomedix to Arthrex, sourcing or manufacturing the disposables and/or capital equipment
associated with the Product.

 

2. DISTRIBUTION
RIGHTS AND OBLIGATIONS.

 

(a) Appointment
as Exclusive Distributor. Subject to the agreements set forth in Schedule 7(a), Cytomedix hereby appoints Distributor as an
exclusive Cytomedix distributor within the Territory for the Exclusive Field of Use and as a non-exclusive distributor within the
Territory for the Non-Exclusive Field of Use, to market, distribute and sell the Products to all existing and potential customers
(“Customers”) within the Territory and Field of Use, subject to compliance with the terms and conditions of this Agreement.
Distributor shall use best efforts to market, distribute and sell the Products, consistent with the terms and conditions of this
Agreement. Additionally, Distributor shall provide post-sale Customer service for the Products in the Territory under the terms
set forth in this Agreement.

 

(i) Term
of Initial Appointment. Subject to earlier termination or renewal as provided in Section 8 below, Distributor’s initial appointment
shall be for the Initial Term (defined herein). If prior to the expiration of the Initial Term the parties have not entered into
a Sale Transaction, then this Agreement shall automatically renew for the Renewal Term (defined herein), unless Distributor provides
written notice of non-renewal no later than one year prior to the expiration of the Initial Term.

 

(ii) Limited
License of Intellectual Property. Cytomedix grants to Distributor a limited, non-royalty bearing, nontransferable, non-sublicensable,
exclusive license with regard to Cytomedix Intellectual Property solely for the purposes of and to the extent necessary for Distributor
to use, market, sell, offer to sell, import, distribute or service the Products manufactured and supplied by or for Cytomedix in
the Territory and within the Field of Use to Customers during the Term of this Agreement.

 

(b) Distributor
Option to Assume Manufacturing and Supply of Products. At any time the Distributor, on written notice to Cytomedix, may assume
responsibility for the manufacture and supply of the Products, either by assuming Cytomedix existing manufacturing and supply agreements
or by entering into new manufacturing and supply agreements. Upon such written notice Distributor and Cytomedix shall enter into
a Patent License Agreement pursuant to which Cytomedix shall grant Distributor a license to all Intellectual Property necessary
for the manufacture of the Products. Notwithstanding the foregoing, Cytomedix may continue to source Product for its continued
sale and distribution of Product for the Non-Exclusive Field of Use and the chronic wound market. Upon a Transition Event, Distributor
shall purchase all Products currently in production in accordance with the forecast provisions of Section 2(e) herein.

 

(c) Appointment
of Sub-Distributors. The Parties agree that Distributor’s rights and obligations under this Agreement will, subject to terms
and limitations contained in this Agreement, be discharged and administered directly by Distributor and may include the use of
contractors, subcontractors, and agents, in a manner substantially similar to the method that Distributor currently utilizes to
operate its existing businesses. Distributor shall remain responsible to Cytomedix for any and all acts and omissions of such sub-distributors
and agents.

 

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(d) Promotion
of Product; Advertising.

 

(i) Promotion.
During the Term of this Agreement, Distributor shall use its best efforts to develop a customer base and market, sell and distribute
the Product within the Territory. Distributor shall advertise and otherwise promote the Product in a commercially reasonable manner
and furnish appropriate Product information and promotional materials to its Customers in a fashion similar to that used with Distributor’s
other products.

 

(ii) Translation
of Materials. Distributor shall bear the cost and responsibility to create and maintain all literature required, in all languages
required, in order to market, sell, distribute and service the Product in the Territory, including without limitation all labeling,
package inserts, instruction manuals, registrations, sales literature and other promotional materials for the Product. All translated
materials must be approved by Cytomedix prior to release and distribution. Distributor must attach a written statement with the
translated materials submitted to Cytomedix for approval certifying that the translation does not misrepresent the claims of the
original English-language material and is an accurate translation.

 

(iii) Recognition
of Patents and Patents Pending. Subject to rules, regulations and codes controlling the labeling and packaging of the Products,
Distributor shall include on each Product or proximal Product packaging, a printed statement substantially similar to “shall
apply or cause to have applied to all Licensed Product or associated packaging, the following notice”

 

“Manufactured and licensed under
U.S. Patent Nos. 7,060,018 and 7,407,472, patents pending and their foreign counterparts.”

 

This notice may be modified by mutual
consent of the parties as reasonably necessary to comply with applicable patent marking provisions of the U.S. patent laws.

 

(e) Forecasting
of Products. Prior to the Transition Event, Distributor shall annually provide to Cytomedix a rolling forecast of Distributor’s
requirements for the Product for the twelve (12) month period commencing that quarter. The requirements for the first quarter period
of each forecast shall constitute a firm and binding Purchase Order for Product, and shall be delivered to Distributor in full
prior to the end of the same quarter. The remaining rolling quarterly forecast shall constitute non-binding estimates of Product
and requirements for the period described; provided that, the 2nd quarter in any forecast shall be varied by no more than 20% when
reported in the subsequent binding forecast, unless agreed to by Cytomedix. The 4th quarter of each forecast are non-binding
and may be modified by Distributor at any time in its sole discretion. Cytomedix will not guarantee fulfillment of orders constituting
an aggregate increase in firm order quantities over forecasted quantities for a given quarter in excess of 20%. In addition to
the forecast, Distributor is encouraged to provide Cytomedix at any time with advance non-binding notice of expected significant
changes to the existing quarterly forecast for purposes of production planning.

 

(f) Trademark
License. Cytomedix hereby grants to Distributor the non-exclusive, royalty-free right and license to use designated Cytomedix Marks.
Distributor agrees not to alter, obliterate, deface or remove any Cytomedix Marks displayed on any Product or its packaging, or
add any name, brand or trademark thereto without the prior written consent of Cytomedix. Except as provided in this Agreement,
nothing herein shall grant to Distributor any right, title or interest in the Cytomedix Marks, which right, title and interest
shall be vested in Cytomedix. Distributor shall immediately notify Cytomedix if, during the term of this Agreement, Distributor
becomes aware of any other Person who is using any trademark, trade name, service mark, service name or logo that is substantially
or confusingly similar to those owned or used by Distributor pursuant to the authority granted by Cytomedix hereunder.

 

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(g) Regular
Communication. The Parties will meet telephonically or face-to-face no less than quarterly to review, among other things, sales
performance, progress on sales metrics, on hand inventory levels, customer usage information, and make such adjustments and changes
as are agreed to by the Parties.

 

(h) Reservation
of Title. Cytomedix reserves to itself and retains all right, title and interest in and to all Intellectual Property related to
the Products and to any modifications, enhancements, improvements and upgrades thereto. Distributor may not duplicate, translate,
decompile, reverse engineer or adapt any Product or component parts thereof without Cytomedix’s prior written consent.

 

(i) No
Other Rights. Except as expressly provided in this Agreement, no right, title, or interest is granted by Cytomedix to Distributor
hereunder. Cytomedix may distribute products other than the Product within the Territory, either directly or indirectly through
distributors, and no right, title or interest is granted by Cytomedix to Distributor relating to such product.

 

(j) Other
Information Reporting. Distributor shall provide to Cytomedix, at Distributor’s expense and in English, each and every Product-related
quality and/or performance complaint within two (2) business days after receipt of such complaint by Customer. Distributor shall
use a complaint reporting form agreed upon by the parties for reporting the information to Cytomedix. In addition, Distributor
shall notify Cytomedix of any reportable incident within twenty four (24) hours and as outlined in the vigilance procedure agreed
upon by the Parties. Detailed information of action(s) taken to resolve any reported complaint shall be communicated to Cytomedix
within three (3) business days after completion of the actions.

 

(k) Post-Sale
Service, Technical Assistance, and Support. Distributor shall provide to its Customers post-sale service, technical assistance
and support for Products sold by Distributor in the Territory, at Distributor’s sole cost and expense (other than warranty
claims in accordance with this Agreement). Prior to the Transition Event, all Product parts used by Distributor in providing service
shall be procured from Cytomedix pursuant to the terms of this Agreement. At the request of Customers, Distributor shall timely
respond to Customer calls and claims with respect to the Product and provide any applicable training for Customers.

 

(l) Customer
Telephone Support. Distributor shall provide direct end-customer telephone support involving routine (order entry, shipping, billing)
and advanced (complaint processing, problem investigation, and technical application) customer service through its customer “hotline.”
Any specialized support requiring highly specialized product expertise may be directed towards Cytomedix. For purposes of this
Section 2(l), “highly specialized product expertise” shall mean technical product application or scientific subject
matter expertise related to the Product use by Customers.

 

3. TERMS
OF PURCHASE OF PRODUCT.

 

(a) Terms
and Conditions. Until such time as Distributor elects to assume the responsibility for manufacturing and supplying the Products
in accordance with Section 2(b) herein, Distributor shall purchase all Products from Cytomedix, which shall thereafter be resold
by Distributor to its Customers. Distributor shall purchase and resell to Customers the Minimum Purchase Requirements described
in Exhibit A-4. In the event Distributor does not resell the Minimum Purchase Requirements during the applicable period
set forth on Exhibit A-4, then Distributor and Cytomedix shall agree upon a minimum Royalty payment to be paid to Cytomedix.
All purchases of Product and parts hereunder shall be subject to the provisions of this Agreement. Unless otherwise agreed in writing,
nothing contained in any purchase order submitted pursuant to this Agreement shall in any way modify or add any provision to this
Agreement. In the event of a conflict between the terms of any purchase order and the provisions of this Agreement, the provisions
of this Agreement shall govern.

 

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(b) Prices
and Royalties.

 

(i) Prior
to the Transition Event, all prices for Product purchased by Distributor hereunder shall be Free Carrier (“FCA”), Cytomedix’s
Point of Shipment. The initial transfer price to Distributor for each Product and part is set forth opposite such Product or part
in Exhibit A-2 (“Transfer Price”), and such initial Transfer Price will remain fixed through the first twelve
(12) months of the Effective Date of this Agreement. Thereafter, the Transfer Price to Distributor for such Product may only be
increased by Cytomedix based upon an increase in Cytomedix’s direct cost of production of such Product. Cytomedix shall provide
Distributor written notice of any increase as soon as practical following Cytomedix receiving notice of such cost increase from
its Supplier.

 

(ii) Distributor
shall additionally pay to Cytomedix a percentage of Gross Sales Revenues from the sales of Products as a royalty, including minimum
annual royalty (“Royalty”). The Royalty percentage and the Minimum Annual Royalty are as set forth on Exhibit A-3.
No later than thirty (30) days after the end of each fiscal quarter, Distributor shall deliver to Cytomedix a written report
detailing: (i) the number of Devices and Disposables sold, (ii) Gross Sales Revenues generated from the sales, and (iii) the resulting
Royalty owed to Cytomedix. The Royalty owed to Cytomedix shall be paid by Distributor to Cytomedix by wire transfer of immediately
available funds in U.S. dollars to the account specified below or to such other account as may be specified by Cytomedix or its
designee in writing:

 

 

[_]

 

Such Royalty shall be
paid to such account within forty –five (45) days after the end of each fiscal quarter. Cytomedix shall have the right
to audit the records of Distributor relating to Gross Sales Revenues at any time during the normal business hours upon reasonable
advance written notice. The audit will be performed by an independent third party at Cyomedix’s sole expense. If the audit
determines that Cytomedix was not paid the full Royalty owed, Distributor shall pay the amount of any shortfall within five (5)
business days of notice by Cytomedix and submission of the audit findings. If Distributor fails to pay such shortfall within such
five (5) business day cure period, then interest shall accrue on such shortfall (from the date it was due) at fifteen percent (15%)
per annum.

 

(c) Upfront
Payment. In consideration of the grant of rights hereunder (including the assignment of existing Customer agreements and relationships,
transfer of ownership of all related Devices, and assignment of physician consulting agreements) and the initial purchase of Devices
in accordance with Section 3(d) below, Distributor shall pay to Cytomedix concurrently with the full execution of this Agreement,
an upfront payment of Five Million United States dollars ($5,000,000) by wire transfer of immediately available funds. The upfront
payment is not refundable and is in addition to and not a prepayment of any Royalty or other sums payable to Cytomedix under this
Agreement. Distributor shall have the opportunity to accept the terms of any Customer, Consulting, or Distributor agreement or
relationship and may elect, upon written notice to Cytomedix, reject such agreement or relationship. Any termination fee arising
out of such termination shall be the responsibility of Cytomedix.

 

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(d) Initial
Purchase of Product. Simultaneously with the full execution of this Agreement, Distributor shall submit a purchase order for the
purchase of two hundred (200) Devices, at no charge, to be delivered by February 1, 2014.

 

(e) Certain
Taxes. The parties acknowledge that the purchase prices of Product set forth in Exhibit A-2 do not include any sales, excise,
use, value added or other government taxes or duties that may be applicable to the export, import or purchase of the Product, including
all income and income-based taxes imposed on Cytomedix under applicable laws in Territory, which taxes shall be the sole responsibility
of Distributor and Distributor agrees that it will bear all such taxes and duties. When Cytomedix has the legal obligation to collect
and/or pay such taxes or duties, the appropriate amount shall be added to Distributor’s invoice and paid by Distributor to
Cytomedix, unless Distributor provides Cytomedix with a valid tax exemption certificate authorized by the appropriate governmental
taxing authority, or provides proof of payment to such authority.

 

(f) Order
and Acceptance. Prior to the Transition Event, all orders for Product shall be by means of a written purchase order which shall
be submitted to Cytomedix at Cytomedix’s address for notice purposes set forth in Section 10(d), and shall request a delivery
date. Orders may be placed by telephone, facsimile transmission or, upon the parties’ agreement, by e-mail; provided, however,
that a signed confirming purchase order is received by Cytomedix no later than ten (10) business days after such order. Cytomedix
shall notify Distributor in writing within a reasonable period of time from submission of the purchase order of any rejected order
and the reason(s) for such rejection.

 

(g) Invoicing;
Payment. Prior to the Transition Event, Cytomedix shall submit an invoice to Distributor with each shipment of Product ordered
by Distributor. Such invoice shall be due and payable thirty (30) days following the date of such invoice. All invoices shall
be sent to Distributor’s address for notice purposes set forth in Section 10(d), without regard to the actual shipping address
for the Products. Each such invoice shall state Distributor’s aggregate and unit purchase price for Product in the relevant
shipment, plus any freight, taxes or other costs incident to the purchase or shipment initially paid by Cytomedix and to be borne
by Distributor hereunder. Distributor shall make all payments to Cytomedix under this Agreement in United States dollars in immediately
available funds to a bank account designated by Cytomedix in such invoice, or otherwise designated by Cytomedix in writing. Distributor
shall not take any credits or offsets against amounts billed Distributor by Cytomedix without Cytomedix’s prior written consent.

 

(h) Shipping;
Risk of Loss.

 

(i) Prior
to the Transition Event, all Product delivered by Cytomedix pursuant to this Agreement shall be suitably packed for surface or
air shipment, in Distributor’s sole discretion, in a bulk shipping carton per the Customer requirements set forth in the
applicable purchase order, marked for shipment to such location or locations as Distributor may designate, and delivered to Distributor
or its carrier, FCA, Cytomedix’s Point of Shipment. Risk of loss of Product shall pass to Distributor upon delivery to the
carrier at the FCA Point of Shipment.

 

(ii) Cytomedix
shall ship all Product in accordance with Distributor’s delivery instructions specified in Distributor’s purchase orders;
provided, however, that if Distributor does not provide delivery instructions with respect to the carrier to be used, Cytomedix
may use its customary carrier. Partial shipments are allowed. All freight, insurance and other shipping expenses, as well as any
special packing expenses, shall be paid by Distributor. Distributor shall also bear all applicable taxes and duties that may be
assessed against the Product after delivery to the carrier at the FCA Point of Shipment.

 

(iii) Cytomedix
shall use its good faith efforts to ship the Products within a reasonable amount of time after receipt and acceptance of Distributor’s
purchase order for the Product, consistent with Cytomedix’s shipping procedures in place from time to time. All shipments
of Product shall be deemed to conform to the relevant purchase order unless Cytomedix receives from Distributor, no later than
fifteen (15) days after the receiving date of a given shipment, written notice specifying the shipment, the purchase order number
and the exact nature of the discrepancy between the shipment and the order.

 

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4. WARRANTIES;
REMEDIES FOR NON-CONFORMING PRODUCT.

 

(a) Device
Warranty. Cytomedix’s Device warranty is attached hereto as Exhibit A-5.

 

(b) Customer
Warranties. Distributor shall pass on to their Customers the Device warranty set forth in Section 4(a). Distributor may offer further
incremental warranty provisions and benefits at its discretion and sole expense.

 

(c) Return
Materials Procedure. There are no rights of return for cash. Device returns are allowed under Cytomedix’s warranty program.
All Device returns must be approved by Cytomedix and assigned a Return Material Authorization (“RMA”) number. To obtain
an RMA number prior to return, the Distributor shall notify Cytomedix of the description of the Device, quantity, reason for return,
serial number of device and date of purchase of Device to be returned. All Device returns from Distributor shall be sent directly
to Cytomedix or its designee, insured by Distributor. The RMA number shall be prominently displayed on the outside of the shipping
box and the Products shall be packaged to protect them from shipping damage. Repair for costs of damage due to improper packaging
will be the responsibility of the Distributor.

 

(d) Return
Procedure for Disposables. As used in this Agreement, a “non-conformity” means any failure of a Disposable to conform
to the specifications or packaging or quality of that Disposable as it is to be delivered by Cytomedix to Distributor under this
Agreement.  In the event Distributor, through the inspection of a Disposable, discovers any non-conformity, or in the event
Distributor discovers or becomes aware of a non-conformity of a Disposable, and Distributor intends to make a claim to Cytomedix
with respect to such Disposable for a replacement Disposable, Distributor shall notify Cytomedix in writing of such non-conformity
and claim in writing within fifteen (15) days after the discovery of such non-conformity.  If Distributor makes a timely non-conformity
Disposable claim, Cytomedix shall complete its investigation of Distributor’s non-conformity claim within fifteen (15) days
of receipt of Distributor’s written notice of such claim.  During such latter fifteen (15) day period, Distributor shall,
upon the request of Cytomedix, furnish Cytomedix with a reasonable number of samples of the rejected Disposable(s) for Cytomedix
to inspect and/or test or, in the case where testing is not required, shall otherwise provide Cytomedix with a reasonable opportunity
to have the relevant Disposable(s) inspected by or for Cytomedix in order for Cytomedix to be able to confirm or rebut Distributor’s
findings/claims as to the relevant non-conformity.  If Cytomedix does not challenge such a claim by Distributor, or it is
determined, in spite of such a challenge, that there is a non-conformity in any such Disposable(s), Distributor’s sole remedy,
and Cytomedix only obligation to Distributor as a result of such non-conformity, shall be for Cytomoedix to replace such non-conforming
Disposable(s) with a corresponding conforming Disposable(s).

 

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5. ADDITIONAL
OBLIGATIONS OF DISTRIBUTOR.

 

(a) Compliance
with Laws. Distributor shall comply in all respects with the laws and regulations (including, without limitation, health and safety
regulations) applicable to the marketing, distribution, sale and service of Product within the Territory. Distributor shall monitor
the appropriate information sources in the Territory for material changes in such laws and regulations relating to the distribution
of Product within the Territory and notify Cytomedix in writing of all such material changes. The Distributor shall track Customer
shipment by lot number to assist Cytomedix in performing any field corrective actions.

 

(b) Non-
United States Registrations and Clinical Studies. Cytomedix shall own all registrations and clearances in the Territory for the
Products with the Food and Drug Administration and its foreign equivalents. As required from time to time under the laws of any
province or state within the Territory, Distributor shall at its sole expense apply for and use its commercially reasonable efforts
to obtain in Cytomedix’s name all approvals, registrations, licenses and permits that are required to market, distribute,
sell and service the Product within such Territory. Cytomedix shall be responsible for interacting with the Food and Drug Administration,
unless and only to the extent Distributor seeks additional indications (and a corresponding 510(k) application) for the Product.
Distributor shall be responsible for interacting with foreign regulators and facilitating registration of the Product and any test
centers for the Product in the Territory other than the United States. Distributor shall be responsible for all costs associated
with the registration filing and associated testing within the Territory, other than the United States (except and to the extent
of any additional indications for the Product). Distributor shall furnish to Cytomedix copies of all applications, and all registrations,
licenses and permits obtained therefrom, for the Product. Distributor shall be responsible, at its expense, for sponsoring and
supporting any clinical trials or studies useful to (i) expedite market adoption of the Product in the Territory, (ii) establish
equivalence with standards of care and competitive systems or technology, and (iii) establish the safety and efficacy of the Products.

 

(c) U.S.
Export Controls. Distributor understands and acknowledges that Cytomedix is subject to regulation by agencies of the United States
Government, including, without limitation, the United States Department of Commerce, the United States Department of the Treasury,
and the United States Food and Drug Administration, which prohibit export or diversion of certain products and technology to certain
countries. Any and all obligations of Cytomedix to provide the Product, documentation, or any media in which any of the foregoing
is contained, as well as any other technical assistance shall be subject in all respects to such United States laws and regulations
as shall from time to time govern the license and delivery of technology and products abroad by Persons subject to the jurisdiction
of the United States, including the Export Administration Act of 1979, as amended, any successor legislation, and the Export Administration
Regulations issued by the Department of Commerce, Bureau of Export Administration. Distributor agrees to cooperate with Cytomedix,
including, without limitation, providing required documentation, in order to obtain export licenses or exemptions therefrom.

 

(d) Customer
Notification. Cytomedix will be responsible for initiating product recalls. Distributor shall be responsible for notifying Customers
of Product recalls. Distributor shall timely submit a written report to Cytomedix of the recall status of the Products.

 

(e) Customer
Database. Distributor shall provide to Cytomedix within one (1) business day all Customer information, to include the Customer
name, contact, address, e-mail, phone number and purchase history, as necessary (i) to comply with a mandatory reportable incident;
or (ii) as part of a response to a matter of law; or (iii) as part of a response to any valid request made to Cytomedix by the
Food and Drug Administration or a local or foreign equivalent agency, and for which the absence of a complete response will be
a violation of applicable codes, rules or laws or may otherwise place a Product registration or other Product certification at
risk of revocation or cancellation and/or if user safety, to include Customers and patients, is an issue. Any such disclosure of
Customer information by Distributor to Cytomedix under this Section 5(e) shall be in accordance with this Agreement.

 

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(f) Minimum
On Hand Inventory. Distributor shall maintain such on-hand quantities of Product in its inventory to ensure reasonable and timely
response to Customer order volume throughout the Territory. Such minimum on-hand quantity shall be determined by the Distributor
and will be similar to the minimum on-hand inventory quantities established for similar products offered for sale by the Distributor.

 

(g) Order
Processing. Distributor will provide order processing, which includes order to cash cycle, as well as warehousing and distribution
support, shipping, invoicing, and related services with respect to its sale of Products to end-users.

 

(h) Regulatory
Relationships. Distributor shall communicate with regulatory agencies within the countries where the Products are registered, sold
or serviced by Distributor for purposes of monitoring and maintaining any necessary documents or filings required for Distributor
to conduct sales of the Products.

 

(i) Training
Requirements. Distributor shall provide sales training similar to the training provided for Distributor’s other products
to Distributor’s sales and technical service organizations involved in selling the Products.

 

(j) No
Conflicting Commitments. Distributor shall not enter into any third party commitments or contracts for Product sales or service
and repair that supersedes or conflicts with the terms and conditions of this Agreement.

 

(k) Distribution
of Competitive Products. Distributor agrees not to, directly or indirectly, distribute or otherwise
offer for sale products that produce a discrete output fraction containing platelets and leukocytes (Buffy Coat based system) that
is a separate fraction from other component fractions for use or sale in the exclusive field of use within the territory.

 

(l) Commercialization
Resources and Diligence. Distributor shall apply best efforts to the marketing, sales and customer support of the Products similar
to the effort and resources Distributor applies to its other products.

 

6. OBLIGATIONS
OF CYTOMEDIX.

 

(a) Compliance
with Laws. Notwithstanding Section 5 of this Agreement, Cytomedix will obtain and maintain at its expense the necessary regulatory
clearances in the United States supporting the approval and clearance of the Products. Cytomedix will assist Distributor, at Distributor’s
expense, in obtaining further regulatory clearances in Cytomedix’s name for the Products. In accordance with Section 5(b),
Distributor shall bear the expense of such registrations unless negotiated and agreed to between the parties in a signed written
document. Cytomedix shall comply in all material respects with all laws and regulations within the United States applicable to
the manufacture, labeling, packaging and sale of the Product. Cytomedix shall supply to Distributor only Products which have 510(k)
clearance or for which an application for such clearance has been filed.

 

(b) Support.
Cytomedix shall provide consultation to Distributor concerning technical aspects, regulatory approvals, and use of the Product
from time to time as reasonably requested by Distributor. Cytomedix shall also provide consultation to Distributor regarding regulatory
approvals within the Territory.

 

    	10

    	 

    

 

(c) Scientific
and Technical Information. Cytomedix shall provide to Distributor scientific and technical information available to Cytomedix and
required for distribution to obtain any registrations, licenses and permits required for the sale and distribution of the Product
within the Territory, or to respond to inquiries from Customers or governmental or regulatory authorities.

 

(d) Product
Training. Cytomedix shall provide Product training for Distributor’s product managers and field application specialists on
an as-needed basis to enable Distributor to promote the sale of Product and to perform post-sale customer training, technical assistance
and support for its Customers. Such Product training shall be conducted, at times and locations requested by Distributor and agreed
upon by Cytomedix, and will be free of charge, provided, however, that Distributor shall be responsible for all out-of-pocket expenses
incurred in connection with such Product training, including travel, airfare and lodging expenses incurred by Distributor’s
personnel while attending such training. In addition, Cytomedix will provide Product updates and service bulletins as they become
available.

 

(e) Information
Reporting. Cytomedix shall provide to Distributor, at Cytomedix’s expense, (i) information regarding any discovered defects
in the Product, or any malfunction or deterioration in the performance of the Products, and (ii) any inadequacy in the labeling
or the instructions for use. Distributor is responsible for disseminating the information to Customers and sales representatives
as appropriate.

 

(f) Registrations,
Licenses and Patents. During the Term of this Agreement, Cytomedix shall, as necessary to support approval, registration and licensing
of the Products by Distributor in the Territory: (a) maintain all current regulatory files, registrations and licenses for Products
outside of the Territory, (b) maintain and pay fees associated with any third party intellectual property licenses, if any, necessary
to practice the rights granted under this Agreement, and (c) maintain and pay the associated filing and maintenance fees for all
patents owned by Cytomedix.

 

(g) Responsible
Person. Distributor shall notify the competent authorities in Territory that it has been designated as the person responsible for
the marketing and distribution of the Product within the Territory, and Distributor’s address for notice purposes in Section
10(d) shall be the registered place of business for such purposes.

 

(h) Inventory
Requirement. Cytomedix or its contracted manufacturers will maintain no less than forty five (45) days’ finished goods inventories
of Products based upon Distributor’s annual unit forecast, updated on a rolling quarterly basis, pursuant to Section 2(e)
above, and forty five (45) days’ inventory of service and support parts, based on historical usage, to assure supply of Product
for Customers.

 

(i) Distribution
of Competitive Products. Cytomedix agrees not to, directly or indirectly, distribute or otherwise
offer for sale products that produce a discrete output fraction containing platelets that is a separate fraction from other component
fractions for use or sale in the exclusive field of use within the Territory.

 

(j) Transition
of Territory Status. Distributor shall review the distribution agreements set forth on Schedule 7(a). If Distributor does not wish
to continue these agreements, upon the earliest of the termination provisions, renewal or expiration date of any third party distribution
agreement, Cytomedix shall take such actions necessary to terminate or not renew those agreements listed on Schedule 7(a)
and identified by Distributor in writing in accordance with the terms of such agreements, such that the Distributor shall thereafter
be the sole and exclusive distributor for the Products in the affected territory for the Exclusive Field of Use. Upon the termination
or non-renewal of such agreements, each affected territory shall become the Exclusive Territory. All existing agreements are listed
in Schedule 7(a). Any fees associated with termination will be the responsibility of Cytomedix.

 

    	11

    	 

    

 

(k) New
Kit Development. Cytomedix agrees to provide the necessary engineering and technical support to assist Distributor in the production
of the Arthrex Kits. 

 

(l) Indemnity
Obligations. Cytomedix will indemnify, hold harmless and upon Distributor’s request, defend at its own expense Distributor
and its officers, directors, employees, agents, representatives, successors and assigns (collectively, the “Distributor Indemnified
Persons”) from and against any loss, claim, cost, suit, action, liability, judgment, decree, damage or expense including
reasonable attorney’s fees, imposed upon, incurred by or asserted against the Distributor Indemnified Persons, arising from
any third party claim, demand or action arising from (i) the infringement or misappropriation of the intellectual property rights
of a third party by a Product or use thereof, or Distributor’s use of the Cytomedix Marks, pursuant to this Agreement and
(ii) any defect in the manufacturing or design of a Product. 

 

(m) Cytomedix
agrees to maintain customer service resources including staff until Distributor assumes the customer service responsibilities.

 

7. REPRESENTATIONS
AND WARRANTIES OF THE PARTIES.

 

(a) Cytomedix.
Cytomedix hereby represents and warrants to Distributor that:

 

(i) Cytomedix
is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware, and has all
corporate power and authority to own, lease and operate its properties and to carry on its businesses as it is currently being
conducted. Cytomedix has all necessary corporate power and authority to enter into this Agreement and to perform its obligations
hereunder. This Agreement has been duly authorized, executed and delivered by Cytomedix.

 

(ii) The
execution, delivery and performance by Cytomedix of this Agreement and the consummation of the transactions contemplated hereby
do not violate or conflict with the Certificate of Incorporation or Bylaws of Cytomedix, any material contract, agreement or instrument
to which Cytomedix is a party or by which it or its properties are bound, or any judgment, decree, order or award of any court,
governmental body or arbitrator by which Cytomedix is bound, or any law, rule or regulation applicable to Cytomedix.

 

(iii) Cytomedix
holds valid licenses to third party intellectual property, if any, necessary to practice the rights granted in this Agreement.
Further, Cytomedix is the sole, exclusive and lawful owner of all right, title and interest in and to the applicable Cytomedix
technology incorporated in the Product (“Applicable Cytomedix Technology”) and to the Cytomedix Marks, free and clear
of all liens, claims, security interests or other restrictions or encumbrances (collectively, “Liens”),
except for the Liens in favor of MidCap Funding III, LLC, as agent for the ‘Lenders’ under and as defined in the Credit
Agreement defined below (together with its successors and assigns, the “Agent”; and collectively with the Lenders,
the “Secured Parties”) and a Lender under that certain Credit and Security Agreement, dated as of February 19, 2013,
by and among Cytomedix, Cytomedix Acquisition Company, LLC and Aldagen, Inc., as borrowers, and the Secured Parties (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) and the other ‘Financing
Documents’ (as defined in the Credit Agreement) executed in connection with the Credit Agreement (as used herein, the “Financing
Documents”). Except as set for in Schedule 7(a), Cytomedix has not granted to any other Person any license, franchise
or other rights to acquire, use or exploit the Applicable Cytomedix Technology within the Territory (or any portion thereof).
Cytomedix has the right to grant the distribution and other rights to Distributor hereunder.

 

    	12

    	 

    

 

(iv) Cytomedix
has in place, and shall have in place during the time that the manufacturing of the Products remains under its regulatory control:
(1) a quality management system that meets the requirements of ISO 13485:2003 and 21CFR820; (2) an ISO 13485 certificate issued
by a Notified Body, and required FDA registrations; (3) good manufacturing practice (GMP) controls at all manufacturing facilities
associated with Product; (4) a change management system to control internal and supplier processes, so that changes to processes,
contact materials and devices/components are approved by Cytomedix prior to implementation; (5) special process validations, specifically
for cleaning, sterile barrier packaging and sterilization; and (6) sterilizers which maintain proper ISO certifications.

 

(b) Distributor.
Distributor hereby represents and warrants to Cytomedix that:

 

(i) Distributor
is a company duly organized and existing under the laws of Territory, and has all power and authority to own, lease and operate
its properties and to carry on its businesses as currently conducted. Distributor has all necessary power and authority to enter
into this Agreement and to perform its obligations hereunder. This Agreement has been duly authorized, executed and delivered by
Distributor.

 

(ii) The
execution, delivery and performance by Distributor of this Agreement and the consummation of the transactions contemplated hereby
do not violate or conflict with the Certificate of Incorporation or Bylaws of Distributor, any material contract, agreement or
instrument to which Distributor is a party or by which it or its properties are bound, or any judgment, decree, order or award
of any court, governmental body or arbitrator by which Distributor is bound, or any law, rule or regulation applicable to Distributor.

 

(iii) Distributor
and its Affiliates have the distribution facilities and personnel reasonably necessary to perform its functions and otherwise carry
out its obligations under the terms of this Agreement.

 

8. TERM
AND TERMINATION.

 

(a) Term.
The term of this Agreement shall commence on the date hereof and shall continue for five (5) years (the “Initial Term”),
unless earlier terminated pursuant to Section 8(b). If prior to the expiration of the Initial Term there has not been a Sale
Transaction, unless Distributor gives written notice no later than one year following one year prior to the expiration of the Initial
Term, this Agreement shall be automatically renewed for one additional three (3) year period (the “Renewal Term” and
together with Initial Term, the “Term”).

 

(b) Termination
of Agreement. This Agreement may be terminated as follows:

 

(i) The
parties may terminate this Agreement upon their mutual written agreement.

 

(ii) Cytomedix
may terminate this Agreement if Distributor breaches any of its material representations, warranties, covenants or obligations
under this Agreement and such breach continues for a period of thirty (30) days following Distributor’s receipt of written
notice from Cytomedix setting forth the nature of such breach.

 

    	13

    	 

    

 

(iii) Distributor
may terminate this Agreement if Cytomedix breaches any of its material representations, warranties, covenants or obligations under
this Agreement and such breach continues for a period of thirty (30) days following Cytomedix’s receipt of written notice
from Distributor setting forth the nature of such breach.

 

(iv) One
Party may terminate immediately this Agreement by written notice to the other Party upon the occurrence of any of the following
events: (i) the other Party is or becomes insolvent or unable to pay its debts as they become due within the meaning of the United
States Bankruptcy Code (or any successor statute) or any analogous foreign statute; or (ii) the other Party appoints or has appointed
a receiver for all or substantially all of its assets, or makes an assignment for the benefit of its creditors; or (iii) the other
Party files a voluntary petition under the United States Bankruptcy Code (or any successor statute) or any analogous foreign statute;
or (iv) the other Party has filed against it an involuntary petition under the United States Bankruptcy Code (or any successor
statute) or any analogous foreign statute, and such petition is not dismissed within ninety (90) days.

 

(v) Cytomedix
may terminate this Agreement if Distributor fails to purchase the Minimum Purchase Requirements on Exhibit A-4.

 

 

 

(c) Effect
of Termination.

 

(i) The
expiration or earlier termination of this Agreement shall not relieve any party of any of its rights or liabilities arising prior
to or upon such expiration or earlier termination.

 

(ii) Within
ten (10) business days following the effective date of the expiration or earlier termination of this Agreement, Distributor shall
provide to Cytomedix a complete inventory of Product in Distributor’s possession, in transit between Distributor’s
authorized locations or in transit to Distributor from Cytomedix or otherwise in Distributor’s control. Cytomedix may inspect
Distributor’s Product inventory and audit Distributor’s records in the manner provided herein above.

 

(iii) If
Distributor gives written notice of its intention not to renew for the Renewal Term in accordance with this Agreement, then Distributor
and Cytomedix shall meet to establish a transition plan. In addition to establishing a transition plan, Distributor shall:

 

(1) make
available any existing inventory of Product to Cytomedix, including any Product that has been customized by Distributor;

 

(2) transfer
and assign all regulatory certifications or licenses related to the Product;

 

(3) provide
Customer information needed to facilitate the orderly transition of the sale and marketing of the Product;

 

(4) transition
all manufacturing and vendor agreements;

 

(5) negotiate
in good faith to provide a license to use any Distributor Intellectual Property related to or used in the sale of the Products
by the Distributor pursuant to this Agreement; and

 

    	14

    	 

    

 

(6) take
any other action reasonably requested by Cytomedix to facilitate the orderly transition of the sale and marketing of the Product
in the Territory following expiration of the Initial Term.

 

(iv) Notwithstanding
the expiration or earlier termination of this Agreement, Distributor may continue to market, distribute and sell Products within
the Territory after the expiration or earlier termination of this Agreement until the earlier of (i) the date that Distributor
has sold all of its Product inventory existing as of the effective date of expiration or earlier termination and (ii) the six (6)-month
anniversary of the effective date of expiration or earlier termination.

 

(d) Force
Majeure. Neither Party shall be liable to the other Party for non-performance of or delay in performing its obligations hereunder
to the extent that performance is rendered impossible by strike, riot, war, acts of God, acts of terrorism, earthquake, fire, flood,
governmental acts or orders or restrictions, failure of suppliers, or any other reason to the extent that the failure to perform
is beyond the reasonable control of the non-performing party.

 

9. CONFIDENTIALITY.

 

(a) Confidentiality.
Each party acknowledges that, in the course of performing its duties and obligations under this Agreement, certain information
that is confidential or proprietary to such party (“Confidential Information”) will be furnished by the other party
or such other party’s representatives. Each party agrees that any Confidential Information furnished by the other party or
such other party’s representatives will not be used by it or its representatives except in connection with, and for the purposes
of, the promotion, marketing, distribution and sale of Products under this Agreement and, except as provided herein, will not be
disclosed by it or its representatives without the prior written consent of the other party. Notwithstanding the foregoing, the
parties agree that all Confidential Information shall be clearly marked “CONFIDENTIAL” or, if furnished in oral form,
shall be stated to be confidential by the party disclosing such information at the time of such disclosure and reduced to a writing
by the party disclosing such information which is furnished to the other party or such other party’s representatives within
forty-five (45) days after such disclosure.

 

(b) Exceptions.
The confidentiality obligations of each party under Section 9(a) do not extend to any Confidential Information furnished by
the other party or such other party’s representatives that (i) is or becomes generally available to the public other than
as a result of a disclosure by such party or its representatives, (ii) was available to such party or its representatives on a
non-confidential basis prior to its disclosure thereto by the other party or such other party’s representatives, (iii) was
independently developed without the use of the other party’s Confidential Information by representatives of such party who
did not have access to the other party’s Confidential Information, as established by contemporaneous written records, or
(iv) becomes available to such party or its representatives on an non-confidential basis from a source other than the other party
or such other party’s representatives; provided, however, that such source is not bound by a confidentiality agreement with
the other party or such other party’s representatives.

 

(c) Authorized
Disclosure. Notwithstanding any other provision of this Agreement, each Party may disclose Confidential Information of the other
Party: (i) to the extent required to comply with applicable legal requirements including as part of regular securities law reporting
requirements and/or in accordance with securities regulatory authority or securities exchange rules, demands and/or practice; (ii)
to the extent and to the persons and entities required by rules of the National Association of Securities Dealers; provided, however,
that the responding Party shall first have given prompt notice to the other Party hereto to enable it to seek any available exemptions
from or limitations on such disclosure requirement and shall reasonably cooperate in such efforts by the other Party; or (iii)
as necessary to file or prosecute patent applications, prosecute or defend litigation or otherwise establish rights or enforce
obligations under this Agreement, but only to the extent that any such disclosure is necessary.

 

    	15

    	 

    

 

(d) Compelled
Disclosure. In the event that either party or its representatives are requested or become legally compelled (by oral questions,
interrogatories, requests for information or document subpoena, civil investigative demand or similar process) to disclose any
Confidential Information furnished by the other party or such other party’s representatives or the fact that such Confidential
Information has been made available to it, such party agrees that it or its representatives, as the case may be, will provide the
other party with prompt written notice of such request(s) so that the other party may seek a protective order or other appropriate
remedy and/or waive compliance with the provisions of this Agreement. In the event that such protective order or other remedy is
not obtained, or that the other party waives compliance with the provisions of this Agreement, such party agrees that it will furnish
only that portion of such Confidential Information that is legally required and will exercise its best efforts to obtain reliable
assurance that confidential treatment will be accorded to that portion of such Confidential Information and other information being
disclosed.

 

(e) Ownership
of Confidential Information. The party disclosing or otherwise furnishing Confidential Information to the other party will retain
the exclusive ownership of all right, title and interest in and to such Confidential Information.

 

(f) Survival.
The obligations of the parties under this Section 9 shall survive the expiration or earlier termination of this Agreement for a
period of three (3) years.

 

10. GENERAL
PROVISIONS.

 

(a) Independent
Contractors. The relationship of Cytomedix and Distributor established by this Agreement is that of independent contractors, and
nothing shall be deemed to create or imply any employer/employee, principal/agent, partner/partner or co-venturer relationship,
or that the parties are participants in a common undertaking. Neither party may direct or control the activities of the other party
or incur or assume any obligation on behalf of the other party or bind such other party to any obligation for any purpose whatsoever.

 

(b) 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 reference to rules of conflicts
or choice of laws. Any dispute or issue arising hereunder, including any alleged breach by Distributor, not resolved pursuant to
Section 10(m) shall be heard, determined and resolved by an action commenced in the federal or state courts in Wilmington, Delaware,
which the parties hereby agree shall have the exclusive jurisdiction over the issues and the parties. Distributor hereby agrees
to submit itself to the jurisdiction of the federal and state courts in Wilmington, Delaware and waives the right to make any objections
based on the exclusive jurisdiction or venue in such courts. The Delaware courts shall have the right to grant all relief to which
each party is or shall be entitled hereunder, including all equitable relief as the Court may deem appropriate. Distributor hereby
consents to service of process by registered mail.

 

(c) Entire
Agreement. This Agreement, including the Exhibits, sets forth the entire agreement and understanding of the parties relating to
the subject matter hereof and supersedes all prior oral and written, and all contemporary oral, negotiations, agreements and understandings
with respect to the same.

 

(d) Notices.
All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be
deemed to have been duly given upon receipt) by delivery in person, by cable, facsimile or telex, or by registered or certified
mail (postage prepaid, return receipt requested), to the other party at the following address (or at such other address for which
such party gives notice hereunder):

 

    	16

    	 

    

 

If to Distributor:

 

ARTHREX, INC.

1370 Creekside Boulevard

Naples, FL 34108-1945

Attn:

Telephone:

Facsimile:

 

If to

 

CYTOMEDIX, INC.

209 Perry Parkway, Suite 7

Gaithersburg, MD 20877

Attention: Office of the CEO

Telephone: (240) 499-2680

Facsimile:

 

(e) Assignment
and Binding Effect. Except as otherwise provided in this Agreement, neither Party may, directly or indirectly, assign its rights
or delegate its duties under this Agreement without the prior written consent of the other Party; provided that Cytomedix may assign
this Agreement (i) to an Affiliate, (ii) to a successor to all or substantially all of the business or assets of Cytomedix, (iii)
in connection with a Change of Control and/or (iv) to any Secured Party in connection with its rights under the Credit Agreement
and the other Financing Documents. No permitted assignment of rights or delegation of duties under this Agreement shall relieve
the assigning or delegating party of its liabilities hereunder. For purposes of this Agreement, either Party shall be deemed to
have assigned this Agreement in the event of a Change of Control with respect to such Party. Subject to the foregoing, this Agreement
is binding upon, and inures to the benefit of, the parties and their respective successors and permitted assigns.

 

(f) Partial
Invalidity. If any provision of this Agreement is held to be invalid by a court of competent jurisdiction, then the remaining provisions
shall remain, nevertheless, in full force and effect. The parties agree to renegotiate in good faith any term held invalid and
to be bound by the mutually agreed substitute provision in order to give the most approximate effect intended by the parties.

 

(g) No
Waiver; Amendment. No waiver of any term or condition of this Agreement shall be valid or binding on any party unless agreed to
in writing by the party to be charged. The failure of either party to enforce at any time any of the provisions of the Agreement,
or the failure to require at any time performance by the other party of any of the provisions of this Agreement, shall in no way
be construed to be a present or future waiver of such provisions, nor in any way affect the validity of either party to enforce
each and every such provision thereafter. This Agreement may not be amended or modified except by the written agreement of the
Parties.

 

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

 

    	17

    	 

    

 

(i) Consent
Not Unreasonably Withheld. No party given the right to approve or consent to any matter shall unreasonably withhold, condition
or delay its approval or consent. The failure to respond in writing within any specified time period shall be deemed unconditioned
approval of or consent to the relevant matter, provided that the party requesting such approval or consent gives written notice
requesting a response at least two (2) business days prior to the expiration of the specified time period, if any.

 

(j) Construction;
Interpretation. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning
or interpretation of this Agreement. Any section, recital, exhibit, schedule and party references are to this Agreement unless
otherwise stated. No party, nor its counsel, shall be deemed the drafter of this Agreement for purposes of construing the provisions
of this Agreement, and all provisions of this Agreement shall be construed in accordance with their fair meaning, and not strictly
for or against any party.

 

(k) Further
Assurances. Each party agrees to cooperate fully with the other and execute such instruments, documents and agreements and take
such further actions to carry out the intents and purposes of this Agreement.

 

(l) Press
Releases and Announcements. Except as may be contemplated hereunder, neither party may issue any press release, product any professional
publications or make any public announcement concerning the transactions contemplated by this Agreement without the prior consent
of the other party, except for any releases, publications or announcements which may be required by or, in such party’s discretion,
reasonably necessary under applicable law, in which case the party proposing to make such release or announcement will allow the
other party a reasonable opportunity to review and comment on such release, publications or announcement in advance of such issuance
or making.

 

(m) Alternative
Dispute Resolution.

 

(i) Any
controversy, dispute or claim arising out of or relating to this Agreement (or the breach hereof) that cannot be resolved by good
faith negotiation between or among the parties may be finally submitted to the American Arbitration Association (“AAA”)
for final and binding arbitration pursuant to the Commercial Arbitration Rules of the AAA. Such arbitration shall be held in Wilmington,
Delaware, before a single arbitrator who shall be a retired federal or Delaware state judge. The arbitrator may enter a default
decision against any party who fails to participate in the arbitration proceedings. The decision of the arbitrator shall be final,
unappealable and binding, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction
thereof. The arbitrator shall be authorized to award any relief, whether legal or equitable, to the party so entitled to such relief.

 

(ii) In
respect of any suit, action or other proceeding relating to the enforcement of any award rendered by the arbitrator, each party
irrevocably submits to the non-exclusive jurisdiction of any state or federal court located in the City of Wilmington, State of
Delaware.

 

(iii) The
arbitrator shall be authorized to apportion its fees and expenses and the reasonable attorney’s fees and expenses of the
parties as the arbitrator deems appropriate. In the absence of any such apportionment, the prevailing party in any arbitration
or other proceeding shall be entitled, in addition to any other rights and remedies it may have, to reimbursement for its expenses,
including court costs and reasonable fees of attorneys and other professionals.

 

(iv) The
parties agree that this Section 10(m) has been included to resolve rapidly and inexpensively any claims or disputes between them
with respect to this Agreement, and that this Section 10(m) shall be grounds for dismissal of any action commenced by any party
in any court with respect to any controversy, dispute or claim arising out of or relating to this Agreement (or the breach hereof).

 

    	18

    	 

    

  

IN WITNESS WHEREOF, each
of the undersigned has caused this Agreement to be duly executed.

 

	
         

        
	CYTOMEDIX, INC.

	 
	 	 	 
	 	By: 	/s/ Martin P. Rosendale	 
	 	 	Name:	 Martin P. Rosendale	 
	 	 	Title:	 CEO	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
         
	ARTHREX, INC.

	 
	 		 	 	 
	 	 By: 	/s/ R. Scott Price	 
	 	 	Name:	 R. Scott Price	 
	 	 	Title:	VP	 

 

    	19CONSENT AND FIRST AMENDMENT TO CREDIT
AND SECURITY AGREEMENT

 

THIS
CONSENT AND FIRST AMENDMENT TO CREDIT AND SECURITY AGREEMENT (this “Agreement”)
is dated as of August 7, 2013, by and among CYTOMEDIX, INC.,
a Delaware corporation (“Cytomedix”), CYTOMEDIX
ACQUISITION COMPANY, LLC, a Delaware limited liability company (“Acquisition”),
ALDAGEN, INC., a Delaware corporation (“Aldagen”,
and collectively with Cytomedix and Acquisition, the “Borrowers”),
MIDCAP FUNDING III, LLC, a Delaware limited liability company in its capacity as agent
(“Agent”) for the lenders under the Credit
Agreement (as defined below) (“Lenders”), and the Lenders.

 

W I T N E
S S E T H:

 

WHEREAS, Borrowers,
Lenders and Agent are parties to that certain Credit and Security Agreement, dated as of February 19, 2013 (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”; capitalized terms used herein
have the meanings given to them in the Credit Agreement except as otherwise expressly defined herein), pursuant to which Lenders
have agreed to provide to Borrowers certain loans and other extensions of credit in accordance with the terms and conditions thereof;
and

 

WHEREAS, pursuant
to Section 7.1 of the Credit Agreement, Borrowers have requested that Agent and Lenders consent to the licensing of certain Material
Intellectual Property to Arthrex, Inc. pursuant to that certain Distributor Agreement and License, dated as of August 7, 2013 between
Borrower and Arthrex, Inc., as distributor, in the form attached hereto as Exhibit A (the “Arthrex License Agreement”),
and Agent and Lenders are willing to grant such consent subject to, and in accordance with, the terms and conditions set forth
herein; 

 

NOW, THEREFORE,
in consideration of the premises, the covenants and agreements contained herein, and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, Borrowers, Lenders and Agent hereby agree as follows:

 

1.    Acknowledgment
of Obligations. Borrowers hereby acknowledge, confirm and agree that all Term Loans made prior to the date hereof, together
with interest accrued and accruing thereon, and fees, costs, expenses and other charges owing by Borrowers to Agent and Lenders
under the Credit Agreement and the other Financing Documents, are unconditionally owing by Borrowers to Agent and Lenders, without
offset, defense or counterclaim of any kind, nature or description whatsoever except as may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws relating to or affecting creditor’s rights generally.

 

2.    Consent.

 

(a)   License
Agreement. Notwithstanding anything to the contrary in the Credit Agreement and/or any of the other Financing Documents and
subject to the terms and conditions of this Agreement, including, without limitation, Section 7 of this Agreement, Agent
and Lenders hereby consent to the licensing of certain Material Intellectual Property to Arthrex, Inc. pursuant to and in accordance
with the terms of the Arthrex License Agreement, so long as no Default or Event of Default has occurred and is continuing or, after
giving effect to this Agreement, would result and provided that Borrowers shall not be permitted to amend the Arthrex License Agreement
or Arthrex License Documents, if any, or enter into any other agreements that have the effect of modifying the terms of the Arthrex
License Agreement without the prior written consent of Agent and Lenders.

 

    	 

    	 

    

 

3.     Amendments
to Credit Agreement. Subject to the terms and conditions of this Agreement, including, without limitation, the conditions
to effectiveness set forth in Section 7 below, the Credit Agreement shall be amended as follows:

 

(a)   Section
6.15 of the Credit Agreement is hereby amended by deleting such section in its entirety and substituting in lieu thereof the
following new Section 6.15 to read in its entirety as follows:

 

“6.15Minimum Sales.
Borrower shall not permit its net sales as of any Testing Date to be less than the minimum amounts set forth on Schedule 6.15,
opposite such Testing Date set forth on such Schedule 6.15”

 

(b)   Section
6.16 of the Credit Agreement is hereby amended by deleting such section in its entirety and substituting in lieu thereof the
following new Section 6.16 to read in its entirety as follows:

 

“6.16[Reserved].”

 

(c)   The
Credit Agreement is hereby amended by inserting the following new Section 6.17 to read in its entirety as follows:

 

“6.17Arthrex
Royalty Payments. Borrower shall not permit the Arthrex Royalty Payments paid to Borrower under and pursuant to the Arthrex
License Agreement for any specified Arthrex Testing Period (as set forth on Schedule 6.17) as of any Arthrex Testing Date
(as set forth on Schedule 6.17) to be less than the minimum amounts set forth on Schedule 6.17, opposite such Arthrex
Testing Date as set forth on such Schedule 6.17.”

 

(d)   The
Credit Agreement is hereby further amended by inserting the following new Section 6.19 to read in its entirety as follows:

 

“6.19Arthrex Deposit
Account; Procedures for Arthrex Royalty Payments. By not later than September 6, 2013, 2013, Borrower shall deliver to Agent
a Control Agreement with respect to the Arthrex Deposit Account, duly executed and delivered by the applicable Borrower and Arthrex
Bank. Borrower shall deposit all Arthrex Royalty Payments paid to Borrower under and pursuant to the Arthrex License Agreement
into the Arthrex Deposit Account. Two (2) Business Days after an Arthrex Royalty Payment for the applicable Arthrex Testing Period
(as set forth on Schedule 6.17) has been deposited in the Arthrex Deposit Account, provided that no Default or Event of
Default has occurred and is continuing, Borrower shall be permitted to request in writing that Agent transfer the Arthrex Royalty
Payments made during any such applicable Arthrex Testing Period (as set forth on Schedule 6.17), and within two (2) Business
Days of such written request, Agent shall transfer the Arthrex Royalty Payment to Borrower for the immediately preceding quarter
from the Arthrex Deposit Account into the Designated Funding Account.”

 

    	 

    	 

    

 

(e)   Section
10.1 of the Credit Agreement is hereby amended by deleting clause (e) of such section in its entirety and substituting in lieu
thereof the following new clause (e) to read in its entirety as follows:

 

“(e)(A)(i)
any Credit Party or counterparty defaults under any Material Agreement (after any applicable grace period contained therein), (B)
a Material Agreement shall be terminated by a third party or parties party thereto prior to the expiration thereof, (C) there is
a loss of a material right of a Credit Party under any Material Agreement to which it is a party or (D) any Credit Party fails
to receive any payment owing to it, when due under any Material Agreement, (ii) (A) any Credit Party fails to make (after any applicable
grace period) any payment when due (whether due because of scheduled maturity, required prepayment provisions, acceleration, demand
or otherwise) on any Indebtedness (other than the Obligations) of such Credit Party or such Subsidiary having an aggregate principal
amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated
credit arrangement) of more than Fifty Thousand Dollars ($50,000) (“Material Indebtedness”), (B) any
other event shall occur or condition shall exist under any contractual obligation relating to any such Material Indebtedness, if
the effect of such event or condition is to accelerate, or to permit the acceleration of (without regard to any subordination terms
with respect thereto), the maturity of such Material Indebtedness or (C) any such Material Indebtedness shall become or be declared
to be due and payable, or be required to be prepaid, redeemed, defeased or repurchased (other than by a regularly scheduled required
prepayment), prior to the stated maturity thereof, (iii) any Credit Party defaults (beyond any applicable grace period) under any
obligation for payments due or otherwise under any lease agreement for such Credit Party’s principal place of business or
any place of business that meets the criteria for the requirement of an Access Agreement under Section 7.2 or for which
an Access Agreement exists or was required to be delivered, (iv) (A) the occurrence of any breach or default under any terms or
provisions of any Subordinated Debt Document or under any Subordination Agreement, (B) the occurrence of any event requiring the
prepayment of any Subordinated Debt or (C) the delivery of any notice with respect to any Subordinated Debt or pursuant to any
Subordination Agreement that triggers the start of any standstill or similar period under any Subordination Agreement, or (v) any
Borrower makes any payment on account of any Indebtedness that has been subordinated to any of the Obligations, other than payments
specifically permitted by the terms of such subordination;”

 

    	 

    	 

    

 

(f)   Section
15 of the Credit Agreement is hereby amended by deleting the definitions of “Material Agreement” and “Maturity
Date”, in each case in its entirety, and substituting in lieu thereof the following new definitions to read in their
entirety as follows:

 

“‘Material Agreement’
means (i) the agreements listed in the Disclosure Schedule, (ii) the Arthrex License Agreement and Arthrex License Documents,
(iii) each agreement or contract to which a Credit Party is a party involving the receipt or payment of amounts in the aggregate
exceeding One Hundred Thousand Dollars ($100,000) per year (excluding (a) any agreement or contract that involves payment by the
Borrower to another party for materials or supplies (but, for the avoidance of doubt, not equipment) and services in the ordinary
course of business, but specifically including all such agreements relating to licensure of Intellectual Property and (b) employment
offers or employment agreements), (iv) all lease or other occupancy agreements for the principal office or any other business location
of Borrower or its Subsidiaries, and (v) any agreement or contract to which such Credit Party or its Subsidiaries is a party the
termination of which could reasonably be expected to result in a Material Adverse Change.”

 

“‘Maturity Date’
means, (i) if the Subsequent Equity Event has occurred, August 19, 2016 or (ii) if the Subsequent Equity Event has not occurred,
February 19, 2016.”

 

(g)   Section
15 of the Credit Agreement is hereby further amended by inserting the following new definitions in appropriate alphabetical
order:

 

“‘Arthrex’
means Arthrex, Inc.”

 

“‘Arthrex Bank’
means the depository institution where the Arthrex Deposit Account is located.”

 

“‘Arthrex Deposit
Account’ means Borrower’s Deposit Account, account number 1360659573, or, if
acceptable to Agent, another Deposit Account owned by Borrower and maintained with a bank reasonably acceptable to Agent and, in
any case, set up solely for the purpose of receiving the Arthrex Royalty Payment and over which Agent has been granted control
pursuant to a Control Agreement.”

 

“‘Arthrex License
Agreement’ means that certain Distributor Agreement and License, dated as of August __, 2013 between Borrower and Arthrex,
as distributor, as amended, restated, supplemented or otherwise modified from time to time (provided that, for the avoidance of
doubt, any amendment, restatement, supplementation or other modification thereto shall require the consent of the Agent and Lenders
pursuant to Section 7.11).”

 

“‘Arthrex License
Documents’ means, collectively, the Arthrex License Agreement and any other license agreements or other documents entered
into or delivered in connection with the Arthrex License Agreement.”

 

    	 

    	 

    

 

“‘Arthrex Royalty Payment’
means any royalty payment paid to Borrower under and pursuant to the Arthrex License Agreement.”

 

“‘Arthrex Testing Date’ means
each date identified as a ‘Testing Date’ on Schedule 6.17 hereto.”

 

“‘Arthrex Upfront
Payment’ means that certain upfront payment to Borrower in the amount of five million and no/100 dollars ($5,000,000)
made in accordance with Section 3(c) of the Arthrex License Agreement.”

 

“‘First Amendment
Effective Date’ means August ___, 2013.”

 

“‘Subsequent Equity
Event’ means (a) the closing on and consummation of, at any time after the First Amendment Effective Date but prior to
September 1, 2013, an equity securities issuance and sale transaction pursuant to which Borrower shall have completed the authorization,
issuance and sale of additional shares of the capital stock of Borrower pursuant to a private placement or public offering (including
through the exercise of warrants to purchase capital stock of Borrower), and which such additional shares of capital stock shall
not be subject to any mandatory repurchase or redemption provisions or put rights, or any other similar provisions or rights, in
favor of any holder thereof that are exercisable at any time before the date which is ninety-one (91) days after the date the Obligations
are paid in full or otherwise constitute Indebtedness under the definition set forth herein or be subject to any provisions requiring
the mandatory payment of any dividends at any time (not including any dividends payable in equity of the Borrower) and (b) Borrower
shall have received net cash proceeds of at least five hundred thousand and no/100 dollars ($500,000) in the aggregate (subject
to no clawback, escrow or other terms limiting Borrower’s ability to freely use such proceeds) from such Subsequent Equity
Event and shall have deposited such net cash proceeds into a deposit account or securities account subject to a Control Agreement
and shall have delivered to Agent evidence reasonably satisfactory to Agent of the occurrence of such Subsequent Equity Event and
the deposit of such proceeds; provided that, for the avoidance of doubt, such Subsequent Equity Event shall be in
addition to, and separate from, (x) the Initial Equity Event, (y) the Arthrex Upfront Payment and (z) any other payment made under
the Arthrex License Agreement.”

 

(h)   The
AMORTIZATION SCHEDULE (FOR EACH CREDIT FACILITY) is hereby deleted in its entirety and replaced with the new AMORTIZATION
SCHEDULE  attached hereto as Exhibit B.

 

(i)    The
INTELLECTUAL PROPERTY SCHEDULE is hereby deleted in its entirety and replaced with the new INTELLECTUAL PROPERTY SCHEDULE
attached hereto as Exhibit C.

 

(j)    Schedule
6.15 is hereby deleted in its entirety and replaced with the new Schedule 6.15 attached hereto as Exhibit D.

 

(k)   A new
Schedule 6.17 shall be incorporated into the Agreement in form and substance as attached hereto as Exhibit E.

 

    	 

    	 

    

 

4.    Termination
of Credit Facility #2 Commitment. Notwithstanding anything in the Credit Agreement to the contrary, any commitment to lend
the Applicable Commitment referred to as “Credit Facility #2” and/or “Tranche 2” in the amount of three
million and no/100 dollars ($3,000,000) is hereby terminated and the terms of such “Credit Facility #2” set forth on
the Credit Facility Schedule are hereby deleted in their entirety.

 

5.    No
Other Amendments or Consents. Except for the consent and amendments set forth and referred to in Sections 2, 3
and 4 above, the Credit Agreement and the other Financing Documents shall remain unchanged and in full force and effect.
Nothing in this Agreement is intended, or shall be construed, to constitute a novation or an accord and satisfaction of any of
Borrowers’ Obligations or to modify, affect or impair the perfection or continuity of Agent’s security interests in,
security titles to or other liens, for the benefit of itself and the Lenders, on any Collateral for the Obligations.

 

6.    Representations
and Warranties. To induce Agent and Lenders to enter into this Agreement, each Borrower does hereby warrant, represent
and covenant to Agent and Lenders that (i) each representation or warranty of Borrowers set forth in the Credit Agreement is hereby
restated and reaffirmed as true and correct in all material respects on and as of the date hereof as if such representation or
warranty were made on and as of the date hereof (except to the extent that any such representation or warranty expressly relates
to a prior specific date or period), (ii) no Default or Event of Default has occurred and is continuing as of the date hereof,
and (iii) each Borrower has the power and is duly authorized to enter into, deliver and perform this Agreement and this Agreement
is the legal, valid and binding obligation of each Borrower enforceable against such Borrower in accordance with its terms.

 

7.    Condition
Precedent to Effectiveness of this Agreement. This Agreement shall become effective as of the date (the “Amendment
Effective Date”) upon which Agent shall have received each of the following:

 

(a)   one
or more counterparts of this Agreement duly executed and delivered by Borrowers, Agent and Lenders, in form and substance satisfactory
to Agent and Lenders;

 

(b)   evidence
in form and substance satisfactory to Agent that the Arthrex Deposit Account has been opened;

 

(c)   a fully
executed copy of the Arthrex License Agreement in the form attached hereto as Exhibit A, executed and delivered by the parties
thereto; and

 

(d)   evidence
in form and substance satisfactory to Agent that Borrower has received the Arthrex Upfront Payment into a Collateral Account.

 

    	 

    	 

    

 

8.    Release.

 

(a)   In consideration
of the agreements of Agent and Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, each Borrower, on behalf of itself and its successors, assigns, and other legal representatives,
hereby absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and each Lender and their respective
successors and assigns, and their respective present and former shareholders, affiliates, subsidiaries, divisions, predecessors,
directors, officers, attorneys, employees, agents and other representatives (Agent, Lenders and all such other persons being hereinafter
referred to collectively as the “Releasees” and individually as a “Releasee”), of and from
all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of money, accounts,
bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities whatsoever
(individually, a “Claim” and collectively, “Claims”) of every name and nature, known or unknown,
suspected or unsuspected, both at law and in equity, which any Borrower or any of its successors, assigns, or other legal representatives
may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason of any circumstance,
action, cause or thing whatsoever which arises at any time on or prior to the Amendment Effective Date, including, without limitation,
for or on account of, or in relation to, or in any way in connection with the Credit Agreement or any of the other Financing Documents
or transactions thereunder or related thereto.

 

(b)   Each
Borrower understands, acknowledges and agrees that its release set forth above may be pleaded as a full and complete defense and
may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted
in breach of the provisions of such release.

 

(c)   Each
Borrower agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be
discovered shall affect in any manner the final, absolute and unconditional nature of the release set forth above.

 

9.    Covenant
Not To Sue.Each Borrower, on behalf of itself and its successors, assigns, and other legal representatives, hereby
absolutely, unconditionally and irrevocably, covenants and agrees with and in favor of each Releasee that it will not sue (at law,
in equity, in any regulatory proceeding or otherwise) any Releasee on the basis of any Claim released, remised and discharged by
Borrowers pursuant to 7 above. If any Borrower or any of its successors, assigns or other legal representatives violates
the foregoing covenant, Borrowers, for themselves and their successors, assigns and legal representatives, agree to pay, in addition
to such other damages as any Releasee may sustain as a result of such violation, all attorneys’ fees and costs incurred by
any Releasee as a result of such violation.

 

    	 

    	 

    

 

10.  Advice
of Counsel. Each of the parties represents to each other party hereto that it has discussed this Agreement with its
counsel.

 

11.  Severability
of Provisions. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in
any applicable jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision
or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

12.  Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed to be an original and all of which when
taken together shall constitute one and the same instrument.

 

13.  GOVERNING
LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF MARYLAND
APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE WITHOUT REGARD TO THE PRINCIPLES THEREOF REGARDING CONFLICTS OF LAWS.

 

14.  Entire
Agreement. The Credit Agreement and the other Financing Documents as and when modified through this Agreement embody the
entire agreement between the parties hereto relating to the subject matter thereof and supersede all prior agreements, representations
and understandings, if any, relating to the subject matter thereof.

 

15.  No
Strict Construction, Etc. The parties hereto have participated jointly in the negotiation and drafting of this Agreement.
In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly
by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Agreement. Time is of the essence for this Agreement.

 

16.  Costs
and Expenses. Each Borrower absolutely and unconditionally agrees to pay or reimburse upon demand for all reasonable fees,
costs and expenses incurred by Agent and the Lenders that are Lenders on the Closing Date in connection with the preparation, negotiation,
execution and delivery of this Agreement and any other Financing Documents or other agreements prepared, negotiated, executed or
delivered in connection with this Agreement or transactions contemplated hereby.

 

[Remainder of page
intentionally blank; signature pages follow.]

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year specified at the beginning
hereof.

 

 

	 	BORROWERS:
	 	 
	
         

        
	CYTOMEDIX, INC.

	 	 
	 	By: 	/s/ Martin P. Rosendale	 
	 	Name:	 Martin P. Rosendale	 
	 	Title:	 CEO	 
	 	 	 	 
	 	 	 	 
	
         
	CYTOMEDIX ACQUISITION COMPANY, LLC

	 		 	 
	 	By:	Cytomedix, Inc., its Sole Member	 
	 	 	 	 
	 	By: 	/s/ Martin P. Rosendale	 
	 	Name:	 Martin P. Rosendale	 
	 	Title:	CEO	 
	 	 	 	 
	 	 	 	 
	 	ALDAGEN, Inc.	 
	 	 	 	 
	 	 By: 	/s/ Martin P. Rosendale 	 
	 	Name:	Martin P. Rosendale 	 
	 	Title:	CEO	 

 

    	 

    	 

    

 

	 	AGENT AND LENDER:  	 
	 	 	 	 
	 	MIDCAP FUNDING III, LLC	 
	 	 	 	 
	 	 By: 	/s/ Josh Groman	 
	 	Name:	Josh Groman	 
	 	Title:	Authorized Signatory

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