Document:

Exhibit 10.2

 

PLEDGE AND SECURITY
AGREEMENT

 

This PLEDGE AND SECURITY AGREEMENT,
dated as of June 9, 2022 (as amended, supplemented or otherwise modified from time to time, this “Security Agreement”),
is made by DARIOHEALTH CORP., a Delaware corporation (the “Borrower”), LabStyle
Innovation Ltd., an Israeli company, Upright Technologies Ltd., an Israeli company,
Upright Technologies Inc., a Delaware corporation, and PsyInnovations
Inc., a Delaware corporation (together with any other entity that may become party hereto as provided herein, each a “Grantor”
and, collectively, the “Grantors”) in favor of ORBIMED ROYALTY & CREDIT OPPORTUNITIES III, LP, a Delaware limited
partnership (together with its successors, transferees and assignees, the “Lender”).

 

W I T N E S S E T H :

 

WHEREAS, pursuant to the Credit
Agreement, dated as of June 9, 2022 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
by and between the Borrower and the Lender, the Lender has extended a Commitment to make Loans to the Borrower;

 

WHEREAS, as a condition precedent
to the making of the Initial Loan under the Credit Agreement, each Grantor is required to execute and deliver this Security Agreement;
and

 

WHEREAS, it is required under
the terms of the Credit Agreement that the Grantors shall have granted, pledged and assigned the security interests and undertaken the
obligations contemplated by this Security Agreement.

 

NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Grantor agrees, for the benefit of the Lender,
as follows:

 

ARTICLE
I

DEFINITIONS

 

SECTION 1.1. Certain Terms.
The following terms (whether or not underscored) when used in this Security Agreement, including its preamble and recitals, shall have
the following meanings (such definitions to be equally applicable to the singular and plural forms thereof):

 

“Borrower”
is defined in the preamble.

 

“Collateral”
is defined in Section 2.1.

 

“Collateral Accounts”
is defined in Section 4.3(b).

 

“Computer Hardware
and Software Collateral” means: (a) all of the Grantors’ computer and other electronic data processing hardware, integrated
computer systems, central processing units, memory units, display terminals, printers, features, computer elements, card readers, tape
drives, hard and soft disk drives, cables, electrical supply hardware, generators, power equalizers, accessories and all peripheral devices
and other related computer hardware, including all operating system software, utilities and application programs in whatsoever form; (b)
all software programs (including both source code, object code and all related applications and data files) designed for use on the computers
and electronic data processing hardware described in clause (a) above; (c) all firmware associated therewith; (d) all documentation
(including flow charts, logic diagrams, manuals, guides, specifications, training materials, charts and pseudo codes) with respect to
such hardware, software and firmware described in the preceding clauses (a) through (c); and (e) all rights with respect
to all of the foregoing, including copyrights, licenses, options, warranties, service contracts, program services, test rights, maintenance
rights, support rights, improvement rights, renewal rights and indemnifications and any substitutions, replacements, improvements, error
corrections, updates, additions or model conversions of any of the foregoing.

 

     

     

    

 

“Control Agreement”
means an authenticated record in form and substance reasonably satisfactory to the Lender, that provides for the Lender to have “control”
(as defined in the UCC) over certain Collateral.

 

“Copyright Collateral”
means all Copyrights, including the copyrights referred to in Item A of Schedule V, and registrations and recordings thereof
and all applications for registration thereof, whether pending or in preparation, all copyright licenses, including each copyright license
referred to in Item B of Schedule V, the right to sue for past, present and future infringements of any of the foregoing,
all rights corresponding thereto, all extensions and renewals of any thereof and all Proceeds of the foregoing, including licenses, royalties,
income, payments, claims, damages and Proceeds of suit, which are owned or licensed by the Grantors.

 

“Credit Agreement”
is defined in the first recital.

 

“Distributions”
means all dividends paid on Capital Securities, liquidating dividends paid on Capital Securities, shares (or other designations) of Capital
Securities resulting from (or in connection with the exercise of) stock splits, reclassifications, warrants, options, non-cash dividends,
mergers, consolidations, and all other distributions (whether similar or dissimilar to the foregoing) on or with respect to any Capital
Securities constituting Collateral.

 

“Excluded Property”
is defined in Section 2.1.

 

“Financing Statements”
is defined in Section 3.7(b).

 

“General Intangibles”
means all “general intangibles” and all “payment intangibles,” each as defined in the UCC, and shall include all
interest rate or currency protection or hedging arrangements, all tax refunds, all licenses, permits, concessions and authorizations and
all Intellectual Property Collateral (in each case, regardless of whether characterized as general intangibles under the UCC).

 

“Grantor”
and “Grantors” are defined in the preamble.

 

“Intellectual Property
Collateral” means, collectively, the Computer Hardware and Software Collateral, the Copyright Collateral, the Patent Collateral,
the Trademark Collateral, the Trade Secrets Collateral, Product Agreements and Regulatory Authorizations.

 

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“Intercompany Note”
means any promissory note evidencing loans made by any Grantor to any other Grantor.

 

“Investment Property”
means, collectively, (a) all “investment property” as such term is defined in Section 9-102(a)(49) of the UCC and (b) whether
or not constituting “investment property” as so defined, all Pledged Notes.

 

“Lender”
is defined in the preamble.

 

“Patent Collateral”
means:

 

(a)              
all of the Patents throughout the world, including all patent applications in preparation for filing and each patent and patent
application referred to in Item A of Schedule III;

 

(b)              
all patent licenses, and other agreements providing any Grantor with the right to use any items of the type referred to in clauses
(a) above, including each patent license referred to in Item B of Schedule III; and

 

(c)              
all Proceeds of, and rights associated with, the foregoing (including licenses, royalties income, payments, claims, damages and
Proceeds of infringement suits) and the right to sue third parties for past, present or future infringements of any Patent or patent application
and for breach or enforcement of any patent license.

 

“Permitted Liens”
means all Liens permitted by Section 8.3 of the Credit Agreement.

 

“Pledged Notes”
means all promissory notes listed on Item J of Schedule II (as such schedule may be amended or supplemented
from time to time), all Intercompany Notes at any time issued to any Grantor and all other promissory notes issued to or held by
any Grantor.

 

“Securities Act”
is defined in Section 6.2(a).

 

“Security Agreement”
is defined in the preamble.

 

“Trade Secrets”
of a Person means all of such Person’s common law and statutory trade secrets and all other confidential, proprietary or useful
information, and all know-how obtained by or used in or contemplated at any time for use in the business of such Person.

 

“Trade Secrets Collateral”
means all of the Grantors’ Trade Secrets, whether or not such Trade Secret has been reduced to a writing or other tangible form,
including all documents and things embodying, incorporating or referring in any way to such Trade Secret, all Trade Secret licenses, including
each Trade Secret license referred to in Schedule VI, and including the right to sue for and to enjoin and to collect damages for
the actual or threatened misappropriation of any Trade Secret and for the breach or enforcement of any such Trade Secret license.

 

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“Trademark Collateral”
means:

 

(a)       (i)
all of the Grantors’ Trademarks and all goodwill of the business associated therewith, now existing or hereafter adopted or acquired
including those referred to in Item A of Schedule IV, whether currently in use or not, all registrations and recordings
thereof and all applications in connection therewith, whether pending or filed, including registrations, recordings and applications in
the United States Patent and Trademark Office or in any office or agency of the United States of America, or any state thereof or any
other country or political subdivision thereof or otherwise, and all common law rights relating to the foregoing, and (ii) the right to
obtain all reissues, extensions or renewals of the foregoing;

 

(b)       all
Trademark licenses for the grant by or to any Grantors of any right to use any Trademark, including each Trademark license referred to
in Item B of Schedule IV;

 

(c)       the
right to sue third parties for past, present and future infringements of any Trademark Collateral described in clause (a) and,
to the extent applicable, clause (b); and

 

(d)       all
Proceeds of, and rights associated with, the foregoing, including any claim by any Grantor against third parties for past, present or
future infringement or dilution of any Trademark, Trademark registration or Trademark license, or for any injury to the goodwill associated
with the use of any such Trademark or for breach or enforcement of any Trademark license and all rights corresponding thereto throughout
the world.

 

SECTION 1.2. Credit Agreement
Definitions. Unless otherwise defined herein or the context otherwise requires, terms used in this Security Agreement, including its
preamble and recitals, have the meanings provided in the Credit Agreement.

 

SECTION 1.3. UCC Definitions.
When used herein the terms “Account,” “Certificated Securities,” “Chattel Paper,” “Commercial
Tort Claim,” “Commodity Account,” “Commodity Contract,” “Deposit Account,” “Document,”
 “Electronic Chattel Paper,” “Equipment,” “Goods,” “Instrument,” “Inventory,”
 “Letter-of-Credit Rights,” “Payment Intangibles,” “Proceeds,” “Promissory Notes,” “Securities
Account,” “Security Entitlement,” “Supporting Obligations” and “Uncertificated Securities” have
the meaning provided in Article 8 or Article 9, as applicable, of the UCC. “Letters of Credit” has the meaning provided in
Section 5-102 of the UCC.

 

ARTICLE
II

SECURITY INTEREST

 

SECTION 2.1. Grant of Security
Interest. Each Grantor hereby grants to the Lender, for the Lender’s benefit, a continuing security interest in all of such
Grantor’s right, title and interest in and to the following property, whether now or hereafter existing, owned or acquired by such
Grantor, and wherever located (collectively, the “Collateral”):

 

(a)        Accounts;

 

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(b)        Chattel Paper;

 

(c)        Commercial Tort Claims, including those listed on Item I of Schedule II (as such schedule may be amended or supplemented from time
to time);

 

(d)        Deposit Accounts;

 

(e)        Documents;

 

(f)         General Intangibles;

 

(g)        Goods (including Goods held on consignment with third parties);

 

(h)        Instruments;

 

(i)         Investment Property;

 

(j)         Letter-of-Credit Rights and Letters of Credit;

 

(k)        Supporting Obligations;

 

(l)         all books, records, writings, databases, information and other property relating to, used or useful in connection with, evidencing,
embodying, incorporating or referring to, any of the foregoing in this Section 2.1;

 

(m)       all Proceeds of any of the foregoing and, to the extent not otherwise included, (i) all payments under insurance (whether or not
the Lender is the loss payee thereof) in respect of Collateral and (ii) all tort claims; and

 

(n)        all other property and rights of every kind and description and interests therein.

 

Notwithstanding anything to
the contrary, the term “Collateral” (and all relevant defined terms that are used in the definition of Collateral)
shall not include the following (collectively, the “Excluded Property”):

 

(i)      any General Intangibles or other rights or interests, in each case arising under any contracts, instruments, leases, licenses,
license agreement or other documents as to which the grant of a security interest would (A) constitute a violation of a valid and
enforceable restriction in favor of a third party on such grant, unless and until any required consents shall have been obtained, or (B) give
any other party to such contract, instrument, license or other document the right to terminate its obligations thereunder;

 

(ii)     Trademark applications filed in the United States Patent and Trademark Office on the basis of such Grantor’s “intent
to use” such trademark, unless and until acceptable evidence of use of the Trademark has been filed with the United States Patent
and Trademark Office pursuant to Section 1(c) or Section 1(d) of the Lanham Act (15 U.S.C. 1051, et seq.), to the extent that granting
a Lien in such Trademark application prior to such filing would adversely affect the enforceability or validity of such Trademark application;

 

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(iii)    any asset, the granting of a security interest in which would be void or illegal under any applicable Law or pursuant thereto would
result in, or permit the termination of, such asset (including, as of the Closing Date, the Capital Securities of the Excluded Indian
Subsidiary); or

 

(iv)   any asset subject to a Permitted Lien (other than Liens in favor of the Lender) securing obligations permitted under the Credit
Agreement to the extent that the grant of other Liens on such asset (A) would result in a breach or violation of, or constitute a default
under, the agreement or instrument governing such Permitted Lien, (B) would result in the loss of use of such asset or (C) would permit
the holder of such Permitted Lien to terminate the Grantor’s use of such asset;

 

(v)    the Excluded Accounts; and

 

(vi)   the Funded IP of any Grantor so long as the IIA Consent for the creation of a Lien over such Intellectual Property has
not been received from the Israel Innovation Authority;

 

provided that the property
described in each of clauses (i), (iii) and (iv) above shall only be excluded from the term “Collateral”
to the extent the conditions stated in such clauses are not rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of
the UCC or any other applicable Law; provided further that the property described in clause (vi) above shall only be excluded
from the term “Collateral” until the IIA Consent from the Israel Innovation Authority is received by such Grantor.

 

SECTION 2.2. Security for
Obligations. This Security Agreement and the Collateral in which the Lender is granted a security interest hereunder by the Grantors
secure the payment and performance of all of the Obligations.

 

SECTION 2.3. Grantors Remain
Liable. Anything herein to the contrary notwithstanding:

 

(a)   the Grantors will remain liable under the contracts and agreements included in the Collateral to the extent set forth therein,
to the same extent as if this Security Agreement had not been executed;

 

(b)   the exercise by the Lender of any of its rights hereunder will not release any Grantor from any of its duties or obligations under
any such contracts or agreements included in the Collateral; and

 

(c)    the Lender will not have any obligation or liability under any contracts or agreements included in the Collateral by reason of
this Security Agreement, nor will the Lender be obligated to perform any of the obligations or duties of any Grantor thereunder or to
take any action to collect or enforce any claim for payment assigned hereunder.

 

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SECTION 2.4. Distributions
on Capital Securities; Payments on Pledged Notes. In the event that any (a) Distribution with respect to any Capital Securities or
(b) payment with respect to any Pledged Notes, in each case pledged hereunder, is permitted to be paid (in accordance with Section 8.6
of the Credit Agreement), such Distribution or payment may be paid directly to the applicable Grantor. If any Distribution or payment
is made in contravention of Section 8.6 of the Credit Agreement, such Grantor shall hold the same segregated and in trust for the Lender
until paid to the Lender in accordance with Section 4.1.5.

 

SECTION 2.5. Security Interest
Absolute, Etc. This Security Agreement shall in all respects be a continuing, absolute, unconditional and irrevocable grant of security
interest, and shall remain in full force and effect until the Termination Date. All rights of the Lender and the security interests granted
to the Lender hereunder, and all obligations of the Grantors hereunder, shall, to the fullest extent permitted by applicable Law, in each
case, be absolute, unconditional and irrevocable irrespective of:

 

(a)    
any lack of validity, legality or enforceability of any Loan Document (other than this Security Agreement);

 

(b)   
the failure of the Lender (i) to assert any claim or demand or to enforce any right or remedy against the Borrower or any of the
Subsidiaries or any other Person (including any other Grantor) under the provisions of any Loan Document or otherwise, or (ii) to exercise
any right or remedy against any other guarantor (including any other Grantor) of, or Collateral securing, any Obligations;

 

(c)    any change in the time, manner or place of payment of, or in any other term of, all or any part of the Obligations, or any other
extension, compromise or renewal of any Obligations;

 

(d)   
any reduction, limitation, impairment or termination of any Obligations for any reason, including any claim of waiver, release,
surrender, alteration or compromise, and shall not be subject to (and each Grantor hereby waives, until payment of all Obligations, any
right to or claim of) any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality,
nongenuineness, irregularity, compromise, unenforceability of, or any other event or occurrence affecting, any Obligations or otherwise;

 

(e)    any amendment to, rescission, waiver, or other modification of, or any consent to or departure from, any of the terms of any Loan
Document (other than an amendment to or other modification of this Security Agreement that relates to any obligation of a Grantor, without
the written consent of such Grantor);

 

(f)     any addition, exchange or release of any Collateral or of any Person that is (or will become) a Grantor (including the Grantors
hereunder), or any surrender or non-perfection of any Collateral, or any amendment to or waiver or release or addition to, or consent
to or departure from, any other guaranty held by the Lender securing any of the Obligations; or

 

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(g)    any other circumstance which might otherwise constitute a defense available to, or a legal or equitable discharge of the Borrower
or any of the Subsidiaries, any surety or any guarantor.

 

SECTION 2.6. Postponement
of Subrogation. Each Grantor agrees that it will not exercise any rights against another Grantor which it may acquire by way of rights
of subrogation under any Loan Document to which it is a party until following the Termination Date. No Grantor shall seek or be entitled
to seek any contribution or reimbursement from the Borrower or any of the Subsidiaries, in respect of any payment made by such Grantor
under any Loan Document or otherwise, until following the Termination Date. Any amount paid to any Grantor on account of any such subrogation
rights prior to the Termination Date shall be held in trust for the benefit of the Lender and shall immediately be paid and turned over
to the Lender in the exact form received by such Grantor (duly endorsed in favor of the Lender, if required), to be credited and applied
against the Obligations, whether matured or unmatured, in accordance with Section 6.1(b); provided that, if such Grantor
has made payment to the Lender of all or any part of the Obligations and the Termination Date has occurred, then at such Grantor’s
request, the Lender will, at the expense of such Grantor, execute and deliver to such Grantor appropriate documents (without recourse
and without representation or warranty) necessary to evidence the transfer by subrogation to such Grantor of an interest in the Obligations
resulting from such payment. In furtherance of the foregoing, at all times prior to the Termination Date, such Grantor shall refrain from
taking any action or commencing any proceeding against the Borrower or any of the Subsidiaries (or their successors or assigns, whether
in connection with a bankruptcy proceeding or otherwise) to recover any amounts in respect of payments made under this Security Agreement
to the Lender.

 

ARTICLE
III

REPRESENTATIONS AND WARRANTIES

 

In order to induce the Lender
to enter into the Credit Agreement and make the Loans thereunder, the Grantors represent and warrant to the Lender as set forth below.

 

SECTION 3.1. As to Capital
Securities of the Subsidiaries, Investment Property.

 

(a)    With respect to any Subsidiary of any Grantor that is:

 

(i)    a corporation, business trust, joint stock company or similar Person, all Capital Securities issued by such Subsidiary are duly
authorized and validly issued, fully paid and non-assessable, and represented by a certificate or certificates; and

 

(ii)   a partnership or limited liability company, no Capital Securities issued by such Subsidiary (A) is dealt in or traded on securities
exchanges or in securities markets, (B) expressly provides that such Capital Securities is a security governed by Article 8
of the UCC or (C) is held in a Securities Account, except, with respect to this clause (a)(ii), Capital Securities (x) for
which the Lender is the registered owner or (y) with respect to which the issuer has agreed in an authenticated record with such Grantor
and the Lender to comply with any instructions of the Lender without the consent of such Grantor. Each Subsidiary party hereto that is
an issuer of any Capital Securities pledged hereunder described in clause (y) above agrees that it will comply with the instructions with
respect to such Capital Securities originated by Lender without the consent of any other Grantor.

 

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(b)     Each Grantor has delivered to the Lender all Certificated Securities constituting Collateral held by such Grantor in a Subsidiary
on the Closing Date (or the date such Grantor becomes a party to this Security Agreement, as applicable) to the Lender, together with
duly executed undated blank stock powers, or other equivalent instruments of transfer acceptable to the Lender.

 

(c)     With respect to Uncertificated Securities constituting Collateral owned by any Grantor in a Subsidiary on the Closing Date (or
the date such Grantor becomes a party to this Security Agreement, as applicable), such Grantor has caused the issuer thereof either to
(i) register the Lender as the registered owner of such security or (ii) agree in an authenticated record with such Grantor and the Lender
that such issuer will comply with instructions with respect to such security originated by the Lender without further consent of such
Grantor (which instructions the Lender agrees not to give unless an Event of Default is continuing). Each Subsidiary party hereto that
is an issuer of any Uncertificated Securities pledged hereunder above agrees that it will comply with the instructions with respect to
such Uncertificated Securities originated by Lender without the consent of any other Grantor (which instructions Lender hereby agrees
not to give unless an Event of Default has occurred and is continuing).

 

(d)     The percentage of the issued and outstanding Capital Securities of each Subsidiary pledged on the Closing Date (or the date such
Grantor becomes a party to this Security Agreement, as applicable) by each Grantor hereunder is as set forth on Schedule I. All
shares of such Capital Securities have been duly and validly issued and are fully paid and nonassessable.

 

(e)     Each of the Intercompany Notes constitutes the legal, valid and binding obligation of the obligor with respect thereto, enforceable
in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
other similar Laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding
in equity or at law) and an implied covenant of good faith and fair dealing.

 

SECTION 3.2. Grantor Name,
Location, Etc. In each case as of the date hereof (or on the date such Grantor becomes a party this Security Agreement as applicable):

 

(a)     (i) The jurisdiction in which each Grantor is located for purposes of Sections 9-301 and 9-307 of the UCC and (ii) the address
of each Grantor’s executive office and principal place of business is set forth in Item A of Schedule II.

 

(b)     The Grantors do not have any trade names other than those set forth in Item C of Schedule II.

 

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(c)     During the twelve months preceding the date hereof (or preceding the date such Grantor becomes a party to this Security Agreement,
as applicable), no Grantor has been known by any legal name different from the one set forth on the signature page hereto, nor has such
Grantor been the subject of any merger or other corporate reorganization, except as set forth in Item D of Schedule II.

 

(d)     Each Grantor’s federal taxpayer identification number (or foreign equivalent) is (and, during the twelve months preceding
the date hereof (or preceding the date such Grantor becomes a party to this Security Agreement, as applicable), such Grantor has not had
a federal taxpayer identification number (or equivalent) different from that) set forth in Item E of Schedule II.

 

(e)     No Grantor is a party to any federal, state or local government contract except as set forth in Item F of Schedule II.

 

(f)      No Grantor maintains any Deposit Accounts, Securities Accounts or Commodity Accounts with any Person, in each case, except as set
forth on Item G of Schedule II.

 

(g)     No Grantor is the beneficiary of any Letters of Credit, except as set forth on Item H of Schedule II.

 

(h)     No Grantor has Commercial Tort Claims except as set forth on Item I of Schedule II.

 

(i)      The name set forth on the signature page attached hereto (or the signature page of the supplement hereto by which such Grantor
has become a party to this Security Agreement, as applicable) is the true and correct legal name (as defined in the UCC) of each Grantor.

 

SECTION 3.3. Ownership,
No Liens, Etc. Each Grantor owns its Collateral free and clear of any Lien, except for (a) any security interest created by this Security
Agreement and (b) Permitted Liens. No effective UCC financing statement or other filing similar in effect covering all or any part of
the Collateral is on file in any recording office, except those filed in favor of the Lender relating to this Security Agreement, Permitted
Liens or as to which a duly authorized termination statement relating to such UCC financing statement or other instrument has been delivered
to the Lender on the Closing Date.

 

SECTION 3.4. Possession
of Inventory, Control, Etc.

 

(a)    Each Grantor has, and agrees that it will maintain, exclusive possession of its Documents, Instruments, Promissory Notes, Goods,
Equipment and Inventory, other than (i) Equipment and Inventory that is in transit in the ordinary course of business, (ii) Equipment
and Inventory that in the ordinary course of business is in the possession or control of a warehouseman, bailee agent or other Person
(other than a Person controlled by or under common control with such Grantor), it being understood that the Grantor shall, at the request
of the Lender, undertake reasonable efforts to obtain authenticated a record signed by such Person acknowledging that it holds possession
of such Collateral for the Lender’s benefit and waives any Lien held by it against such Collateral, (iii) Inventory that is in the
possession of a consignee in the ordinary course of business and (iv) Instruments or Promissory Notes that have been delivered to the
Lender pursuant to Section 3.5. In the case of Equipment or Inventory described in clause (ii) above, no lessor or warehouseman
of any premises or warehouse upon or in which such Equipment or Inventory is located has (w) issued any warehouse receipt or other receipt
in the nature of a warehouse receipt in respect of any such Equipment or Inventory, (x) issued any Document for any such Equipment or
Inventory, (y) received notification of the Lender’s interest (other than the security interest granted hereunder) in any such Equipment
or Inventory or (z) any Lien on any such Equipment or Inventory, except for Permitted Liens under Section 8.3(e) of the Credit Agreement.

 

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(b)    Each Grantor is the sole entitlement holder of its Deposit Accounts and no other Person (other than the Lender pursuant to this
Security Agreement or any other Person with respect to Permitted Liens) has control or possession of, or any other interest in, any of
its Deposit Accounts or any other securities or property credited thereto.

 

SECTION 3.5. Negotiable
Documents, Instruments and Chattel Paper. Each Grantor has delivered to the Lender possession of all originals of all Documents, Instruments,
Promissory Notes, and tangible Chattel Paper (other than any Document, Instrument, Promissory Note or tangible Chattel Paper not exceeding
$25,000 in principal amount individually or in the aggregate) owned or held by such Grantor on the Closing Date (or the date such Grantor
becomes a party to this Security Agreement, as applicable).

 

SECTION 3.6. Intellectual
Property Collateral. Except as disclosed on Schedules III through VI, with respect to any Intellectual Property Collateral:

 

(a)    any Intellectual Property Collateral owned by any Grantor is, to the extent applicable, valid, subsisting, unexpired and enforceable
and has not been abandoned or adjudged invalid or unenforceable, in whole or in part;

 

(b)    such Grantor is the sole and exclusive owner of the entire and unencumbered right, title and interest in and to all Intellectual
Property Collateral owned by such Grantor and to the knowledge of such Grantor, no claim has been made that the use of such Intellectual
Property Collateral by such Grantor does or may, conflict with, infringe, misappropriate, dilute, misuse or otherwise violate in any material
respect, any of the rights of any third party;

 

(c)    such Grantor has made all necessary filings and recordations to protect its interest in any Intellectual Property Collateral owned
by such Grantor, including but not limited to filings and recordation to the extent such filing or recordation is necessary for the conduct
of the business substantially in the manner presently conducted, including recordations of all of its interests in the Patent Collateral
and Trademark Collateral in the United States Patent and Trademark Office (or foreign equivalent), and its claims to the Copyright Collateral
in the United States Copyright Office (or foreign equivalent), and, to the extent necessary, has used proper statutory notice in connection
with its use of any material Patent, Trademark and Copyright in any of the Intellectual Property Collateral;

 

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(d)    such Grantor has taken all reasonable steps to safeguard its Trade Secrets and to its knowledge (A) none of the Trade Secrets of
such Grantor has been used, divulged, disclosed or appropriated for the benefit of any other Person other than such Grantor; (B) to such
Grantor’s knowledge, no employee, independent contractor or agent of such Grantor has misappropriated any Trade Secrets of any other
Person in the course of performance of his or her duties as an employee, independent contractor or agent of such Grantor; and (C) no employee,
independent contractor or agent of such Grantor is in default or breach of any material term of any employment agreement, non-disclosure
agreement, assignment of inventions agreement or similar agreement or contract relating in any material way to the protection, ownership,
development, use or transfer of such Grantor’s Intellectual Property Collateral;

 

(e)    to such Grantor’s knowledge, no third party is infringing upon any Intellectual Property owned or used by such Grantor;

 

(f)     no settlement or consents, covenants not to sue, nonassertion assurances, or releases have been entered into by such Grantor or
to which such Grantor is bound that adversely affects its rights to own or use any Intellectual Property;

 

(g)    such Grantor has not made a previous assignment, sale, transfer or agreement constituting a present or future assignment, sale
or transfer of any Intellectual Property for purposes of granting a security interest or as Collateral that has not been terminated or
released except as permitted under the Credit Agreement;

 

(h)    such Grantor has executed and delivered to the Lender Intellectual Property Collateral security agreements for all material United
States Copyrights, Patents and Trademarks owned by such Grantor, including all United States Copyrights, Patents and Trademarks on Schedule
III through VI (as such schedules may be amended or supplemented from time to time by notice by such Grantor to the Lender);

 

(i)     such Grantor uses commercially reasonable standards of quality in the manufacture, distribution and sale of all products sold and
in the provision of all services rendered under or in connection with all Trademarks and has taken all commercially reasonable action
necessary to ensure that all licensees of the Trademarks owned by such Grantor use such adequate standards of quality;

 

(j)     the consummation of the transactions contemplated by the Credit Agreement and this Security Agreement will not result in the termination
or material impairment of any of the Intellectual Property Collateral; and

 

(k)    to such Grantor’s knowledge, such Grantor owns or is entitled to use by license, lease or other agreement, all Patents, Trademarks,
Trade Secrets, Copyrights, mask works, licenses, technology, know-how, processes and rights with respect to any of the foregoing as necessary
to conduct the business and operations of such Grantor substantially in the manner presently conducted.

 

    	 	12	 

     

    

 

SECTION 3.7. Validity,
Etc.

 

(a)   This Security Agreement creates a valid security interest in the Collateral securing the payment of the Obligations to the extent
such security interest may be created pursuant to Article 9 of the UCC.

 

(b)   As of the Closing Date (or the date such Grantor becomes a party to this Security Agreement, as applicable), each Grantor has filed
or caused to be filed all UCC-1 financing statements in the filing office for each Grantor’s jurisdiction of organization listed
in Item A of Schedule II (collectively, the “Financing Statements”) (or has delivered to the Lender the
Financing Statements suitable for timely and proper filing in such offices) and has taken all other actions necessary for the Lender to
obtain control of the Collateral as provided in Sections 9-104, 9-105, 9-106 and 9-107 of the UCC.

 

(c)   Upon the filing of the Financing Statements with the appropriate agencies therefor the security interests created under this Security
Agreement shall constitute a perfected security interest in the Collateral described on such Financing Statements in favor of the Lender
to the extent that a security interest therein may be perfected by filing a financing statement pursuant to the relevant UCC, prior to
all other Liens, except for Permitted Liens (in which case such security interest shall be second in priority of right only to the Permitted
Liens until the obligations secured by such Permitted Liens have been satisfied).

 

SECTION 3.8. Authorization,
Approval, Etc. Except as have been obtained or made and are in full force and effect, no authorization, approval or other action by,
and no notice to or filing with, any Governmental Authority or any other third party is required either:

 

(a)   for the grant by the Grantors of the security interest granted hereby or for the execution, delivery and performance of this Security
Agreement by the Grantors;

 

(b)   for the perfection or maintenance of the security interests hereunder including the first priority nature of such security interest
(to the extent same can be achieved by the filing of Financing Statements or, with respect to Intellectual Property Collateral, the recordation
of any agreements with the United States Patent and Trademark Office or the United States Copyright Office or, with respect to foreign
Intellectual Property Collateral and to the extent the Lender has requested that the Borrower take such action, the taking of appropriate
action under applicable foreign Law and, with respect to after-acquired Intellectual Property Collateral, any subsequent filings in such
applicable intellectual property offices) or the exercise by the Lender of its rights and remedies hereunder; or

 

(c)   for the exercise by the Lender of the voting or other rights provided for in this Security Agreement, except (i) with respect to
any securities issued by a Subsidiary of the Grantors, as may be required in connection with a disposition of such securities by Laws
affecting the offering and sale of securities generally, the remedies in respect of the Collateral pursuant to this Security Agreement
and (ii) any “change of control” or similar filings required by state licensing agencies.

 

    	 	13	 

     

    

 

SECTION 3.9. Best Interests.
It is in the best interests of each Grantor (other than the Borrower) to execute this Security Agreement inasmuch as such Grantor will,
as a result of being an Affiliate of the Borrower, derive substantial direct and indirect benefits from the Loans made to the Borrower
by the Lender pursuant to the Credit Agreement, and each Grantor agrees that the Lender is relying on this representation in agreeing
to make such Loans pursuant to the Credit Agreement to the Borrower.

 

ARTICLE
IV

COVENANTS

 

Each Grantor covenants and
agrees that, until the Termination Date, such Grantor will perform, comply with and be bound by the obligations set forth below.

 

SECTION 4.1. As to Investment
Property, Etc.

 

SECTION 4.1.1. Capital
Securities of Subsidiaries. No Grantor will allow any of its Subsidiaries:

 

(a)     that is a corporation, business trust, joint stock company or similar Person, to issue Uncertificated Securities after the date
hereof;

 

(b)     that is a partnership or limited liability company, to (i) issue Capital Securities that are to be dealt in or traded on securities
exchanges or in securities markets,

(ii) expressly provide in its Organic Documents that its Capital Securities are securities governed by Article 8 of the UCC, or (iii) place
such Subsidiary’s Capital Securities in a Securities Account; and

 

(c)     to issue Capital Securities in addition to or in substitution for the Capital Securities pledged hereunder, except to such Grantor
(and such Capital Securities are immediately pledged and delivered to the Lender pursuant to the terms of this Security Agreement).

 

SECTION 4.1.2. Investment
Property (other than Certificated Securities).

 

(a)    With
respect to any Deposit Accounts, Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment
Property owned or held by any Grantor, such Grantor will cause (except for Excluded Accounts) the intermediary maintaining such Investment
Property to execute a Control Agreement relating to such Investment Property or other assets pursuant to which such intermediary agrees
to comply with the Lender’s instructions with respect to such Investment Property or other assets without further consent by such
Grantor.

 

(b)    With
respect to any Uncertificated Securities (other than Uncertificated Securities credited to a Securities Account) constituting Investment
Property owned or held by any Grantor, such Grantor will cause the issuer of such securities that is not a party hereto to either (i)
register the Lender as the registered owner thereof on the books and records of the issuer or (ii) execute a Control Agreement relating
to such Investment Property pursuant to which the issuer agrees to comply with the Lender’s instructions with respect to such Uncertificated
Securities without further consent by such Grantor.

 

    	 	14	 

     

    

 

SECTION 4.1.3. Certificated
Securities (Stock Powers). Each Grantor agrees that all Certificated Securities constituting Collateral, including the Capital Securities
delivered by such Grantor pursuant to this Security Agreement, will be accompanied by duly executed undated blank stock powers, or other
equivalent instruments of transfer reasonably acceptable to the Lender.

 

SECTION 4.1.4. Continuous
Pledge. Each Grantor will (subject to the terms of the Credit Agreement) (a) deliver to the Lender all Investment Property and all
Payment Intangibles to the extent that such Investment Property or Payment Intangibles are evidenced by a Document, Instrument, Promissory
Note or Chattel Paper (other than any Document, Instrument, Promissory Note or Chattel Paper not exceeding $25,000 in the principal amount,
individually or in the aggregate), and (b) at all times keep pledged to the Lender pursuant hereto, on a first-priority, perfected basis,
a security interest therein and in all interest and principal with respect to such Payment Intangibles, and all Proceeds and rights from
time to time received by or distributable to such Grantor in respect of any of the foregoing Collateral. Each Grantor agrees that it will,
promptly following receipt thereof, deliver to the Lender possession of all originals of negotiable Documents, Instruments, Promissory
Notes and Chattel Paper that it acquires following the Closing Date (other than any Document, Instrument, Promissory Note or Chattel Paper
not exceeding $25,000 in the principal amount individually or in the aggregate).

 

SECTION 4.1.5. Voting Rights,
Dividends, Etc. Each Grantor agrees:

 

(a)     upon receipt of notice of the occurrence and continuance of an Event of Default from the Lender and without any request therefor
by the Lender, so long as such Event of Default shall continue, to deliver (properly endorsed where required hereby or requested by the
Lender) to the Lender all dividends and Distributions with respect to Investment Property; all interest, principal, other cash payments
on Payment Intangibles; and all Proceeds of the Collateral, in each case thereafter received by such Grantor, all of which shall be held
by the Lender as additional Collateral, except for payments made in accordance with Section 8.6 of the Credit Agreement; and

 

(b)     immediately upon the occurrence and during the continuance of an Event of Default and so long as the Lender has notified such Grantor
of the Lender’s intention to exercise its voting power under this clause (b),

 

(i)     with respect to Collateral consisting of general partner interests or limited liability company interests, to promptly modify its
Organic Documents to admit the Lender as a general partner or member, as applicable;

 

(ii)    that the Lender may exercise (to the exclusion of such Grantor) the voting power and all other incidental rights of ownership with
respect to any Investment Property constituting Collateral and such Grantor hereby grants the Lender an irrevocable proxy, exercisable
under such circumstances, to vote such Investment Property; and

 

    	 	15	 

     

    

 

(iii)    to promptly deliver to the Lender such additional proxies and other documents as may be necessary to allow the Lender to exercise
such voting power.

 

All dividends, Distributions, interest, principal,
cash payments, Payment Intangibles and Proceeds that may at any time and from time to time be held by such Grantor, but which such Grantor
is then obligated to deliver to the Lender, shall, until delivery to the Lender, be held by such Grantor separate and apart from its other
property in trust for the Lender. The Lender agrees that unless an Event of Default shall have occurred and be continuing and the Lender
shall have given the notice referred to in clause (b) above, such Grantor will have the exclusive voting power with respect to
any Investment Property constituting Collateral and the Lender will, upon the written request of such Grantor, promptly deliver such proxies
and other documents, if any, as shall be reasonably requested by such Grantor which are necessary to allow such Grantor to exercise that
voting power; provided that no vote shall be cast, or consent, waiver, or ratification given, or action taken by such Grantor that
would impair any such Collateral or be inconsistent with or violate any provision of any Loan Document.

 

SECTION 4.2. Change of
Name, Etc. No Grantor will change its name or place of incorporation or organization or federal taxpayer identification number except
as otherwise permitted by the Credit Agreement.

 

SECTION 4.3. As to Accounts.

 

(a)   Each Grantor shall have the right to collect all Accounts so long as no Event of Default shall have occurred and be continuing.

 

(b)   Upon (i) the occurrence and continuance of an Event of Default and (ii) the delivery of notice by the Lender to each Grantor, all
Proceeds of Collateral received by such Grantor shall be delivered in kind to the Lender for deposit in a Deposit Account of such Grantor
maintained with the Lender or that otherwise is a Controlled Account (together with any other Deposit Accounts or Controlled Accounts
pursuant to which any portion of the Collateral is deposited with the Lender, the “Collateral Accounts”), and such
Grantor shall not commingle any such Proceeds, and shall hold separate and apart from all other property, all such Proceeds in express
trust for the benefit of the Lender until delivery thereof is made to the Lender.

 

(c)   Following the delivery of notice pursuant to clause (b)(ii), the Lender shall have the right to apply any amount in the
Collateral Accounts to the payment of any Obligations which are then due and payable in accordance with Section 4.4(b) of the Credit Agreement.

 

(d)   With respect to each of the Collateral Accounts, it is hereby confirmed and agreed that (i) deposits in such Collateral Account
are subject to a security interest as contemplated hereby, (ii) such Collateral Account shall be under the control of the Lender and (iii),
following the delivery of notice pursuant to clause (b)(ii) above, the Lender shall have the sole right of withdrawal over such
Collateral Account.

 

    	 	16	 

     

    

 

SECTION 4.4. As to Grantors’
Use of Collateral.

 

(a)   Subject to clause (b) below, each Grantor (i) may in the ordinary course of its
business, at its own expense, sell, lease or furnish under contracts of service any of the Inventory normally held by such Grantor for
such purpose, and use and consume, in the ordinary course of its business, any raw materials, work in process or materials normally held
by such Grantor for such purpose, (ii) will, at its own expense, endeavor to collect, as and
when due, all amounts due with respect to any of the Collateral, including the taking of such action with respect to such collection as
the Lender may reasonably request following the occurrence and during the continuance of an Event of Default or, in the absence of such
request, as such Grantor may deem advisable in accordance with its normal business practices, and (iii)
may grant, in the ordinary course of business, to any party obligated on any of the Collateral, any rebate, refund or allowance to which
such party may be lawfully entitled, and may accept, in connection therewith, the return of Goods, the sale or lease of which shall have
given rise to such Collateral.

 

(b)   At any time following the occurrence and during the continuance of an Event of Default, whether before or after the maturity of
any of the Obligations, the Lender may (i) revoke any or all of the rights of each Grantor set forth in clause (a) above, (ii)
notify any parties obligated on any of the Collateral to make payment to the Lender of any amounts due or to become due thereunder and
(iii) enforce collection of any of the Collateral by suit or otherwise and surrender, release, or exchange all or any part thereof, or
compromise or extend or renew for any period (whether or not longer than the original period) any indebtedness thereunder or evidenced
thereby.

 

(c)   Upon the request of the Lender following the occurrence and during the continuance of an Event of Default, each Grantor will, at
its own expense, notify any parties obligated on any of the Collateral to make payment to the Lender of any amounts due or to become due
thereunder.

 

(d)   At any time following the occurrence and during the continuation of an Event of Default, the Lender may endorse, in the name of
such Grantor, any item, howsoever received by the Lender, representing any payment on or other Proceeds of any of the Collateral.

 

 

SECTION 4.5. As to Intellectual
Property Collateral. Each Grantor covenants and agrees to comply with the following provisions as such provisions relate to any Intellectual
Property Collateral material to the operations or business of such Grantor:

 

(a)     such Grantor will not (i) do or fail to perform any act whereby any of the Patent Collateral may lapse or become abandoned or dedicated
to the public or unenforceable, (ii) permit any of its licensees to (A) fail to continue to use any of the Trademark Collateral in order
to maintain all of the Trademark Collateral in full force free from any claim of abandonment for non-use, (B) fail to maintain the quality
of products and services offered under all of the Trademark Collateral at a level substantially consistent with the quality of products
and services offered under such Trademark as of the date hereof, (C) fail to employ all of the Trademark Collateral registered with any
federal or state or foreign authority with an appropriate notice of such registration, (D) adopt or use any other Trademark which is confusingly
similar or a colorable imitation of any of the Trademark Collateral, (E) use any of the Trademark Collateral registered with any federal,
state or foreign authority except for the uses for which registration or application for registration of all the Trademark Collateral
has been made or (F) do or permit any act or knowingly omit to do any act whereby any of the Trademark Collateral may become invalid or
unenforceable, or (iii) do or permit any act or knowingly omit to do any act whereby any of the Copyright Collateral or any of the Trade
Secrets Collateral may lapse or become invalid or unenforceable or placed in the public domain except upon expiration of the end of an
unrenewable term of a registration thereof, unless, in the case of any of the foregoing requirements in clauses (i), (ii)
and (iii), such Grantor reasonably and in good faith determines that either (x) such Intellectual Property Collateral is of negligible
economic value to such Grantor or (y) the loss of such Intellectual Property Collateral would not be material to such Grantor;

 

    	 	17	 

     

    

 

(b)     such Grantor shall promptly notify the Lender if it knows that any application or registration relating to any material item of
the Intellectual Property Collateral may, in the Grantor’s reasonable commercial judgment, become abandoned or dedicated to the
public or placed in the public domain or invalid or unenforceable, or of any adverse determination or development (including the institution
of, or any such determination or development in, any proceeding in the United States Patent and Trademark Office, the United States Copyright
Office or any foreign counterpart thereof or any court) regarding such Grantor’s ownership of any of the Intellectual Property Collateral,
its right to register the same or to keep and maintain and enforce the same;

 

(c)     [Reserved];

 

(d)     such Grantor will take all reasonable and necessary steps, including in any proceeding before the United States Patent and Trademark
Office, the United States Copyright Office or any similar office or agency in any other country or any political subdivision thereof (subject
to the terms of the Credit Agreement), to maintain and pursue any material application (and to obtain the relevant registration) filed
with respect to, and to maintain any registration of, material Intellectual Property Collateral, including the filing of applications
for renewal, affidavits of use, affidavits of incontestability and opposition, interference and cancellation proceedings and the payment
of fees and taxes (except to the extent that dedication, abandonment or invalidation is permitted under the foregoing clauses (a)
or (b) or such Grantor reasonably and in good faith determines that the failure to take any such step would not have a material
adverse effect on the interests of the Lender taken as a whole); and

 

(e)     such Grantor will promptly (but no less than quarterly, insofar as any new Intellectual Property Collateral arises or such Grantor
(or its agents, employees, designees or licensees) files an application for registration of such Intellectual Property Collateral in such
quarter) execute and deliver to the Lender (as applicable) a Patent Security Agreement, Trademark Security Agreement and/or Copyright
Security Agreement, as the case may be, in the forms of Exhibit A, Exhibit B and Exhibit C hereto, respectively,
following its obtaining an interest in, or filing an application for registration of, any Patent, Trademark or Copyright, and shall execute
and deliver to the Lender any other document reasonably required to evidence the Lender’s interest in any part of such item of Intellectual
Property Collateral unless such Grantor shall determine in good faith (with the consent of the Lender) that any Intellectual Property
Collateral is of negligible economic value to such Grantor.

 

    	 	18	 

     

    

 

SECTION 4.6. As to Letter-of-Credit
Rights.

 

(a)       Each
Grantor, by granting a security interest in its Letter-of-Credit Rights to the Lender, intends to (and hereby does) collaterally assign
to the Lender its rights (including its contingent rights) to the Proceeds of all Letter-of-Credit Rights of which it is or hereafter
becomes a beneficiary or assignee.

 

(b)       Upon
the occurrence and during the continuance of an Event of Default, such Grantor will, promptly upon request by the Lender, (i) notify (and
such Grantor hereby authorizes the Lender to notify) the issuer and each nominated Person with respect to each of the Letters of Credit
of such Grantor that the Proceeds thereof have been assigned to the Lender hereunder and any payments due or to become due in respect
thereof are to be made directly to the Lender and (ii) arrange for the Lender to become the transferee beneficiary of each such Letter
of Credit.

 

SECTION 4.7. As to Commercial
Tort Claims. Each Grantor covenants and agrees that, until the Termination Date, with respect to any Commercial Tort Claim hereafter,
it shall deliver to the Lender a supplement in form and substance reasonably satisfactory to the Lender, together with all supplements
to schedules thereto, identifying such new Commercial Tort Claim.

 

SECTION 4.8. Electronic
Chattel Paper and Transferable Records. If any Grantor at any time holds or acquires an interest in any Electronic Chattel Paper or
any “transferable record,” as that term is defined in Section 201 of the U.S. Federal Electronic Signatures in Global and
National Commerce Act, or in Section 16 of the U.S. Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, with
a value in excess of $25,000, such Grantor shall promptly notify the Lender thereof and, at the request of the Lender, shall take such
action as the Lender may reasonably request to vest in the Lender control under Section 9-105 of the UCC of such Electronic Chattel Paper
or control under Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, Section
16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Lender agrees with
such Grantor that the Lender will arrange, pursuant to procedures satisfactory to the Lender and so long as such procedures will not result
in the Lender’s loss of control, for the Grantor to make alterations to the Electronic Chattel Paper or transferable record permitted
under Section 9-105 of the UCC or, as the case may be, Section 201 of the U.S. Federal Electronic Signatures in Global and National Commerce
Act or Section 16 of the U.S. Uniform Electronic Transactions Act for a party in control to allow without loss of control, unless an Event
of Default has occurred and is continuing or would occur after taking into account any action by such Grantor with respect to such Electronic
Chattel Paper or transferable record.

  

SECTION 4.9. Landlord Access
Agreements. Each Grantor shall furnish to the Lender landlord access agreements as to United States locations (and at the request
of the Lender, shall use reasonable efforts to furnish to the Lender landlord access agreements as to non-United States locations) where
any books and records, or more than $100,000 of other Collateral, is stored, in form and substance reasonably satisfactory to the Lender,
from each landlord to such Grantor for each real property lease entered into by such Grantor after the date hereof.

 

    	 	19	 

     

    

 

SECTION 4.10. Further Assurances,
Etc. Each Grantor agrees that, from time to time at its own expense, it will, subject to the terms of this Security Agreement, promptly
execute and deliver all further instruments and documents, and take all further action that may be necessary or that the Lender may reasonably
request, in order to perfect, preserve and protect any security interest granted or purported to be granted hereby or to enable the Lender
to exercise and enforce its rights and remedies hereunder with respect to any Collateral. Without limiting the generality of the foregoing,
such Grantor will:

 

(a)     from time to time upon the request of the Lender, promptly deliver to the Lender such stock powers, instruments and similar documents,
reasonably satisfactory in form and substance to the Lender, with respect to such Collateral as the Lender may request and will, from
time to time upon the request of the Lender, after the occurrence and during the continuance of any Event of Default, promptly transfer
any securities constituting Collateral into the name of any nominee designated by the Lender; if any Collateral shall be evidenced by
an Instrument, negotiable Document, Promissory Note or tangible Chattel Paper, deliver and pledge to the Lender hereunder such Instrument,
negotiable Document, Promissory Note or tangible Chattel Paper (other than any Instruments, negotiable Documents, Promissory Notes or
tangible Chattel Paper in principal amount less than $25,000 individually or in the aggregate) duly endorsed and accompanied by duly executed
instruments of transfer or assignment, all in form and substance reasonably satisfactory to the Lender;

 

(b)     file (and such Grantor hereby authorizes the Lender to file) such Financing Statements or continuation statements, or amendments
thereto, and such other instruments or notices (including any assignment of claim form under or pursuant to the federal assignment of
claims statute, 31 U.S.C. § 3727, any successor or amended version thereof or any regulation promulgated under or pursuant to any
version thereof), as may be necessary or that the Lender may reasonably request in order to perfect and preserve the security interests
and other rights granted or purported to be granted to the Lender hereby;

 

(c)     at all times keep pledged to the Lender pursuant hereto, on a first-priority, perfected basis, all Investment Property constituting
Collateral, all dividends and Distributions with respect thereto, and all interest and principal with respect to Promissory Notes constituting
Collateral, and all Proceeds and rights from time to time received by or distributable to such Grantor in respect of any of the foregoing
Collateral;

 

(d)     not take or omit to take any action the taking or the omission of which would result in any impairment or alteration of any obligation
of the maker of any Payment Intangible or other Instrument constituting Collateral, except as provided in Section 4.4;

 

    	 	20	 

     

    

 

(e)     not create any tangible Chattel Paper without placing a legend on such tangible Chattel Paper reasonably acceptable to the Lender
indicating that the Lender has a security interest in such Chattel Paper;

 

(f)      furnish to the Lender, from time to time at the Lender’s request, statements and schedules further identifying and describing
the Collateral and such other reports in connection with the Collateral as the Lender may reasonably request, all in reasonable detail;
and

 

(g)     do all things reasonably requested by the Lender in accordance with this Security Agreement in order to enable the Lender to have
and maintain control over the Collateral consisting of Investment Property, Deposit Accounts (other than Excluded Accounts), Letter-of-Credit-Rights
and Electronic Chattel Paper.

 

With respect to the foregoing
and the grant of the security interest hereunder, each Grantor hereby authorizes the Lender to file one or more financing or continuation
statements, and amendments thereto, relative to all or any part of the Collateral. Each Grantor agrees that a carbon, photographic or
other reproduction of this Security Agreement or any UCC financing statement covering the Collateral or any part thereof shall be sufficient
as a UCC financing statement where permitted by Law. Each Grantor hereby authorizes the Lender to file financing statements describing
as the collateral covered thereby “all of the debtor’s personal property or assets” or words to that effect, notwithstanding
that such wording may be broader in scope than the Collateral described in this Security Agreement. Notwithstanding anything else herein,
the Lender shall not be liable for the preparation, filing or maintenance of any UCC or other applicable financing statements or instruments,
all of which shall be duties of the Grantors.

 

ARTICLE
V

THE LENDER

 

SECTION 5.1. Lender Appointed
Attorney-in-Fact. Each Grantor hereby irrevocably designates and appoints the Lender as its attorney-in-fact, with full authority
in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time in the Lender’s discretion,
but only following the occurrence and during the continuance of an Event of Default, to take any action and to execute any instrument
which the Lender may deem reasonably necessary or advisable to accomplish the purposes of this Security Agreement, and:

 

(a)    to demand, collect, settle, compromise and adjust, and give discharges and releases concerning the Collateral, all as the Lender
may deem reasonably appropriate;

 

(b)    to commence and prosecute any actions at any court for the purposes of collecting any of the Collateral and enforcing any other
right in respect thereof;

 

(c)    to defend, settle or compromise any action brought in respect of the Collateral and, in connection therewith, give such discharge
or release as the Lender may deem reasonably appropriate;

 

    	 	21	 

     

    

 

(d)    to pay or discharge taxes, liens, security interest or other encumbrances levied or placed on or threatened against the Collateral;

 

(e)    to direct any parties liable for any payment in connection with any of the Collateral to make payment of any and all monies due
and to become due thereunder directly to the Lender or as the Lender shall direct;

 

(f)     to receive payment of and receipt for any and all monies, claims and other amounts due and to become due at any time in respect
of or arising out of any Collateral;

 

(g)    to sign and endorse, any drafts, assignments, proxies, stock powers, verifications, notices and other documents relating to the
Collateral;

 

(h)    to execute and deliver all assignments, conveyances, statements, financing statements, renewal financing statements, security and
pledge agreements, affidavits, notices and other agreements, instruments and documents that the Lender may deem reasonably appropriate
in order to perfect and maintain the security interests and liens granted in this Security Agreement and in order to fully consummate
all of the transactions contemplated herein;

 

(i)     to exchange any of the Collateral or other property upon any merger, consolidation, reorganization, recapitalization or other readjustment
of the issuer thereof and, in connection therewith, deposit any of the Collateral with any committee, depository, transfer agent, registrar
or other designated agency upon such term as the Lender may deem reasonably appropriate;

 

(j)     to vote for a shareholder or member resolution, or to sign an instrument in writing, sanctioning the transfer of any or all of
the Collateral into the name of the Lender (or its designee) or into the name of any transferee to whom the Collateral or any part thereof
may be sold pursuant to Article VI hereof; and

 

(k)    to perform the affirmative obligations of such Grantor hereunder.

 

Each Grantor hereby acknowledges, consents and
agrees that the power of attorney granted pursuant to this Section 5.1 is irrevocable and coupled with an interest.

 

SECTION 5.2. Lender May
Perform. If any Grantor fails to perform any agreement contained herein, during the period of such failure the Lender may itself perform,
or cause performance of, such agreement, that the Lender deems necessary for the maintenance, preservation or protection of any of the
Collateral or of its security interest therein to the extent provided for herein, and the expenses of the Lender incurred in connection
therewith shall be payable by such Grantor pursuant to Section 10.3 of the Credit Agreement.

 

SECTION 5.3. Lender Has
No Duty. The powers conferred on the Lender hereunder are solely to protect its interest in the Collateral and shall not impose any
duty on it to exercise any such powers. Except for reasonable care of any Collateral in its possession and the accounting for moneys actually
received by it hereunder, the Lender shall have no duty as to any Collateral or responsibility for:

 

    	 	22	 

     

    

 

(a)     ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any
Investment Property, whether or not the Lender has or is deemed to have knowledge of such matters; or

 

(b)     taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

 

SECTION 5.4. Reasonable
Care. The Lender is required to exercise reasonable care in the custody and preservation of any of the Collateral in its possession;
provided that the Lender shall be deemed to have exercised reasonable care in the custody and preservation of any of the Collateral,
if it takes such action for that purpose as each Grantor reasonably requests in writing at times other than upon the occurrence and during
the continuance of any Event of Default, but failure of the Lender to comply with any such request at any time shall not in itself be
deemed a failure to exercise reasonable care.

 

ARTICLE
VI

REMEDIES

 

SECTION 6.1. Certain Remedies.
If any Event of Default shall have occurred and be continuing:

 

(a)     The Lender may exercise in respect of the Collateral, in addition to other rights and remedies provided for herein or otherwise
available to it, all the rights and remedies of the Lender on default under the UCC (whether or not the UCC applies to the affected Collateral)
and also may:

 

(i)    take possession of any Collateral not already in its possession without demand and without legal process;

 

(ii)   require each Grantor to, and each Grantor hereby agrees that it will, at its expense and upon request of the Lender forthwith,
assemble all or part of the Collateral as directed by the Lender and make it available to the Lender at a place to be designated by the
Lender that is reasonably convenient to both the Lender and such Grantor;

 

(iii)    enter onto the property where any Collateral is located and take possession thereof without demand and without legal process; and

 

(iv)    without notice except as specified below, lease, license, sell or otherwise dispose of the Collateral or any part thereof in one
or more parcels at any public or private sale, at any of the Lender’s offices or elsewhere, for cash, on credit or for future delivery,
and upon such other terms as the Lender may deem commercially reasonable. Each Grantor agrees that, to the extent notice of sale shall
be required by Law, at least ten (10) days’ prior notice to such Grantor of the time and place of any public sale or the time after
which any private sale is to be made shall constitute reasonable notification. The Lender shall not be obligated to make any sale of Collateral
regardless of notice of sale having been given. The Lender may adjourn any public or private sale from time to time by announcement at
the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.

 

    	 	23	 

     

    

 

(b)     All cash Proceeds received by the Lender in respect of any sale of, collection from, or other realization upon, all or any part
of the Collateral shall be applied by the Lender against all or any part of the Obligations as set forth in Section 4.4(b) of the Credit
Agreement.

 

(c)     The Lender may:

 

(i)      transfer all or any part of the Collateral into the name of the Lender or its nominee, with or without disclosing that such Collateral
is subject to the Lien hereunder;

 

(ii)     notify the parties obligated on any of the Collateral to make payment to the Lender of any amount due or to become due thereunder;

 

(iii)    withdraw, or cause or direct the withdrawal, of all funds with respect to any Collateral Account;

 

(iv)    enforce collection of any of the Collateral by suit or otherwise, and surrender, release or exchange all or any part thereof, or
compromise or extend or renew for any period (whether or not longer than the original period) any obligations of any nature of any party
with respect thereto;

 

(v)     endorse any checks, drafts, or other writings in any Grantor’s name to allow collection of the Collateral;

 

(vi)    take control of any Proceeds of the Collateral; and

 

(vii)   execute (in the name, place and stead of any Grantor) endorsements, assignments, stock powers and other instruments of conveyance
or transfer with respect to all or any of the Collateral.

 

SECTION 6.2. Securities
Laws. If the Lender shall determine to exercise its right to sell all or any of the Collateral that are Capital Securities pursuant
to Section 6.1(a)(iv), each Grantor agrees that upon request of the Lender, such Grantor will, at its own expense:

 

(a)    execute and deliver, and cause (or, with respect to any issuer which is not a Subsidiary of such Grantor, use its best efforts
to cause) each issuer of the Collateral contemplated to be sold and the directors and officers thereof to execute and deliver, all such
instruments and documents, and do or cause to be done all such other acts and things, as may be reasonably necessary or, in the opinion
of the Lender, advisable to register such Collateral under the provisions of the Securities Act of 1933, as from time to time amended,
and the rules and regulations of the SEC thereunder (the “Securities Act”), and cause the registration statement relating
thereto to become effective and to remain effective for such period as prospectuses are required by Law to be furnished, and to make all
amendments and supplements thereto and to the related prospectus which, in the opinion of the Lender, are reasonably necessary or advisable,
all in conformity with the requirements of the Securities Act and the rules and regulations of the SEC applicable thereto;

 

    	 	24	 

     

    

 

(b)     use its best efforts to exempt the Collateral under the state securities or “Blue Sky” laws and to obtain all necessary
governmental approvals for the sale of the Collateral, as reasonably requested by the Lender;

 

(c)     cause (or, with respect to any issuer that is not a Subsidiary of such Grantor, use its best efforts to cause) each such issuer
to make available to its security holders, as soon as practicable, an earnings statement that will satisfy the provisions of Section
11(a) of the Securities Act; and

 

(d)      do or cause to be done all such other acts and things as may be necessary to make such sale of the Collateral or any part thereof
valid and binding and in compliance with applicable Law.

 

SECTION 6.3. Compliance
with Restrictions. Each Grantor agrees that in any sale of any of the Collateral whenever an Event of Default shall have occurred
and be continuing, the Lender is hereby authorized to comply with any limitation or restriction in connection with such sale as it may
be advised by counsel is necessary in order to avoid any violation of applicable Law (including compliance with such procedures as may
restrict the number of prospective bidders and purchasers, require that such prospective bidders and purchasers have certain qualifications,
and restrict such prospective bidders and purchasers to Persons who will represent and agree that they are purchasing for their own account
for investment and not with a view to the distribution or resale of such Collateral), or in order to obtain any required approval of the
sale or of the purchaser by any Governmental Authority or official, and such Grantor further agrees that such compliance shall not result
in such sale being considered or deemed not to have been made in a commercially reasonable manner, nor shall the Lender be liable nor
accountable to such Grantor for any discount allowed by the reason of the fact that such Collateral is sold in compliance with any such
limitation or restriction.

 

SECTION 6.4. Protection
of Collateral. The Lender may from time to time, at its option, perform any act which any Grantor fails to perform after being requested
in writing so to perform (it being understood that no such request need be made after the occurrence and during the continuance of an
Event of Default) and the Lender may from time to time take any other action which the Lender deems necessary for the maintenance, preservation
or protection of any of the Collateral or of its security interest therein.

 

ARTICLE
VII

MISCELLANEOUS PROVISIONS

 

SECTION 7.1. Loan Document.
This Security Agreement is a Loan Document executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated herein)
be construed, administered and applied in accordance with the terms and provisions thereof, including Article X thereof.

 

    	 	25	 

     

    

 

SECTION 7.2. Binding on
Successors, Transferees and Assigns; Assignment. This Security Agreement shall remain in full force and effect until the Termination
Date has occurred, shall be binding upon the Grantors and their successors, permitted transferees and permitted assigns and shall inure
to the benefit of and be enforceable by the Lender; provided that no Grantor may assign or transfer any of its rights or obligations
hereunder without the prior consent of the Lender.

 

SECTION 7.3. Amendments,
Etc. No amendment or modification to or waiver of any provision of this Security Agreement, nor consent to any departure by any Grantor
from its obligations under this Security Agreement, shall in any event be effective unless the same shall be in writing and signed by
the Lender and the Grantors and then such waiver or consent shall be effective only in the specific instance and for the specific purpose
for which given.

 

SECTION 7.4. Notices.
All notices and other communications provided for hereunder shall be delivered or made as provided in Section 10.2 of the Credit Agreement.

 

SECTION 7.5. Release of
Liens. Upon (a) the sale of Collateral to Persons who are not the Borrower or any Subsidiary thereof in accordance with the Credit
Agreement or (b) the occurrence of the Termination Date, the security interests granted herein in such Collateral shall automatically
terminate with respect to (i) such Collateral (in the case of clause (a)) or (ii) all Collateral (in the case of clause (b)).
Upon any such sale or termination, the Lender will, at the Grantors’ sole expense, deliver to the Grantors, without any representations,
warranties or recourse of any kind whatsoever, all such Collateral held by the Lender hereunder, and execute and deliver to the Grantors
such documents as the Grantors shall reasonably request to evidence such termination.

 

SECTION 7.6. Additional
Grantors. Upon the execution and delivery by any other Person of a supplement in the form of Annex I hereto, such Person shall
become a “Grantor” hereunder with the same force and effect as if it were originally a party to this Security Agreement and
named as a “Grantor” hereunder. The execution and delivery of such supplement shall not require the consent of any other Grantor
hereunder, and the rights and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition
of any new Grantor as a party to this Security Agreement. Any schedules delivered by any additional Grantor pursuant to such supplement
shall supplement the relevant schedules to this Security Agreement.

 

SECTION 7.7. No Waiver;
Remedies. In addition to, and not in limitation of Section 2.5, no failure on the part of the Lender to exercise, and
no delay in exercising, any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder
preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not
exclusive of any remedies provided by Law.

 

SECTION 7.8. Severability.
Any provision of this Security Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such provision and such
jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without invalidating the remaining provisions
of this Security Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.

 

    	 	26	 

     

    

 

SECTION 7.9. Governing
Law, Entire Agreement, Etc. THIS SECURITY AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR
TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS SECURITY AGREEMENT OR ANY DOCUMENT CONTEMPLATED HEREBY SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402
OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). This Security Agreement, along with the other Loan Documents, constitutes the
entire understanding among the parties hereto with respect to the subject matter thereof and supersedes any prior agreements, written
or oral, with respect thereto.

 

SECTION 7.10. Forum Selection
and Consent to Jurisdiction.  ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS SECURITY
AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF THE LENDER OR ANY GRANTOR IN
CONNECTION HEREWITH SHALL BE BROUGHT AND MAINTAINED IN THE COURTS OF THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN THE STATE OF
NEW YORK OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK; PROVIDED THAT ANY SUIT SEEKING ENFORCEMENT
AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT, AT THE LENDER’S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE SUCH COLLATERAL
OR OTHER PROPERTY MAY BE FOUND. EACH GRANTOR IRREVOCABLY APPOINTS THE BORROWER AS ITS AUTHORIZED AGENT UPON WHICH PROCESS MAY BE SERVED
IN ANY SUCH SUIT OR PROCEEDING, AND AGREES THAT SERVICE OF PROCESS UPON THE BORROWER, AND WRITTEN NOTICE OF SAID SERVICE TO SUCH GRANTOR,
BY THE PERSON SERVING THE SAME TO THE ADDRESS PROVIDED IN SECTION 10.2 OF THE CREDIT AGREEMENT, SHALL CONSTITUTE EFFECTIVE SERVICE OF
PROCESS UPON THE GRANTOR IN ANY SUCH SUIT OR PROCEEDING. EACH GRANTOR FURTHER AGREES TO TAKE ANY AND ALL ACTION AS MAY BE NECESSARY TO
MAINTAIN SUCH DESIGNATION AND APPOINTMENT OF THE BORROWER AS ITS AGENT FOR SERVICE OF PROCESS IN FULL FORCE AND EFFECT UNTIL ALL OBLIGATIONS
HAVE BEEN PAID IN FULL. THE LENDER, BY ACCEPTANCE OF THIS SECURITY AGREEMENT, AND EACH GRANTOR IRREVOCABLY CONSENTS TO THE SERVICE OF
PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, OR BY PERSONAL SERVICE WITHIN OR WITHOUT THE STATE OF NEW YORK AT THE ADDRESS FOR NOTICES
SPECIFIED IN SECTION 10.2 OF THE CREDIT AGREEMENT. THE LENDER, BY ACCEPTANCE OF THIS SECURITY AGREEMENT, AND EACH GRANTOR HEREBY EXPRESSLY
AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY HAVE OR HEREAFTER MAY HAVE TO THE LAYING OF
VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN
INCONVENIENT FORUM. TO THE EXTENT THAT THE LENDER, BY ACCEPTANCE OF THIS SECURITY AGREEMENT, OR ANY GRANTOR HAS OR HEREAFTER MAY ACQUIRE
ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT,
ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, THE LENDER BY, ACCEPTANCE OF THIS SECURITY AGREEMENT,
AND SUCH GRANTOR, EACH ON ITS OWN BEHALF, HEREBY IRREVOCABLY WAIVES TO THE FULLEST EXTENT PERMITTED BY LAW SUCH IMMUNITY IN RESPECT OF
ITS OBLIGATIONS UNDER THIS SECURITY AGREEMENT.

 

    	 	27	 

     

    

 

SECTION 7.11. Counterparts.
This Security Agreement may be executed by the parties hereto in several counterparts, each of which shall be an original and all of which
shall constitute together but one and the same agreement. This Security Agreement shall become effective when counterparts hereof executed
on behalf of all of the signatories hereto, shall have been received by the Lender. Delivery of an executed counterpart of a signature
page to this Security Agreement by email (e.g. “pdf” or “tiff”) or telecopy shall be effective as delivery of
a manually executed counterpart of this Security Agreement.

 

[Signature Page Follows]

 

    	 	28	 

     

    

 

IN WITNESS WHEREOF, each of
the parties hereto has caused this Security Agreement to be duly executed and delivered by its Authorized Officer as of the date first
above written.

 

	 	DARIOHEALTH CORP.
	 	 	 
	 	By: 	/s/ Erez Raphael
	 	 	Name: Erez Raphael
	 	 	Title: Chief Executive Officer
	 	 	 
	 	 	 
	 	LABSTYLE INNOVATION LTD.
	 	 	 
	 	By:	/s/ Zvi Ben David
	 	 	Name: Zvi Ben David
	 	 	Title: Director
	 	 	 
	 	 	 
	 	UPRIGHT TECHNOLOGIES INC.
	 	 	 
	 	By:	/s/ Zvi Ben David
	 	 	Name: Zvi Ben David
	 	 	Title: Director
	 	 	 
	 	 	 
	 	PSYINNOVATIONS INC.
	 	 	 
	 	By:	/s/ Zvi Ben David
	 	 	Name: Zvi Ben David
	 	 	Title: Director
	 	 	 
	 	 	 
	 	ORBIMED ROYALTY & CREDIT OPPORTUNITIES III, LP, as the Lender
	 	 	 
	 	By: 	/s/ Matthew Rizzo
	 	 	Name: Matthew Rizzo
	 	 	Title: Member

 

    	 	29Exhibit 10.3

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration Rights Agreement (this “Agreement”)
is made and entered into as of June 9, 2022, by and between DarioHealth Corp., a Delaware corporation (the “Company”),
and OrbiMed Royalty & Credit Opportunities III, LP (the “Holder”). The Company and the Holder are referred to each
as a “Party” and collectively herein as the “Parties.” Capitalized terms used herein and not otherwise
defined herein shall have the respective meanings set forth in the Credit Agreement.

 

In consideration of the mutual covenants and agreements
set forth herein and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each Party, the
Parties agree as follows:

 

1.                 
Definitions. As used in this Agreement, the following terms shall have the respective meanings set forth in this
Section 1:

 

“Affiliate” means, with respect
to any Person, any other Person, that directly or indirectly, Controls or is Controlled by or is under common Control with, such Person;
provided, however, that for purposes of this Agreement, the Holder shall not be deemed an Affiliate of the Company or any
of its Subsidiaries. “Affiliates” has a correlative meaning.

 

“Board” means the board of directors
of the Company.

 

“Business Day” means any day
that is not a Saturday, a Sunday or other day on which banks are required or authorized by law to remain closed for the entirety of such
day in New York, New York.

 

“Close of Business” means 5:00
p.m. Eastern Time.

 

“Commission” means the U.S.
Securities and Exchange Commission or any other federal agency then administering the Securities Act or Exchange Act.

 

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

 

“Company Indemnified Persons”
has the meaning set forth in Section 5(a).

 

“Control” means, with respect
to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management policies of such
Person, whether through the ownership of voting securities, by contract or otherwise. “Controlled” has a correlative meaning.

 

“Credit Agreement” means that
certain Credit Agreement, dated June 9, 2022, by and between the Company and the Holder, as may be amended, restated, supplemented or
otherwise modified from time to time.

 

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

 

     

     

    

 

“FINRA” means the Financial
Industry Regulatory Authority.

 

“Form S-1 Shelf” has the meaning
set forth in Section 2(a).

 

“Form S-3 Shelf” has the meaning
set forth in Section 2(a).

 

“Holder” has the meaning set
forth in the preamble.

 

“Holder Indemnified Persons”
has the meaning set forth in Section 5(b).

 

“Indemnified Persons” has the
meaning set forth in Section 5(b).

 

“Initial Warrant” means the
Warrant, dated June 9, 2022, issued pursuant to the Credit Agreement.

 

“Losses” has the meaning set
forth in Section 5(a).

 

“Parties” has the meaning set
forth in the preamble.

 

“Person” means any individual,
partnership, corporation, company, association, trust, limited liability company, organization, entity or division, or any government,
governmental department or agency or political subdivision thereof.

 

“Proceeding” means any action,
claim, suit, proceeding or investigation (including a preliminary investigation or partial proceeding, such as a deposition) pending or
known to the Company to be threatened.

 

“Prospectus” means the prospectus
included in a Registration Statement (including a prospectus that includes any information previously omitted from a prospectus filed
as part of an effective Registration Statement in reliance upon Rule 430A), all amendments and supplements to the Prospectus, including
post-effective amendments, all material incorporated by reference or deemed to be incorporated by reference in such Prospectus.

 

“Registrable Securities” means
(a) the Initial Warrant, (b) any Company Common Stock issuable to the Holder upon exercise of the Initial Warrant, (c) any Subsequent
Warrant, (d) any Company Common Stock issuable to the Holder upon exercise of any Subsequent Warrant, (e) any securities issued or issuable
with respect to, on account of or in exchange for Company Common Stock described in clauses (b) and (d), whether by stock split, stock
dividend, recapitalization, merger, consolidation or other reorganization, charter amendment or otherwise, and (f) any options, warrants
or other rights to acquire, and any securities received as a dividend or distribution in respect of, any of the securities described in
clauses (a), (b), (c), (d) and (e) above, in each case that are held by the Holder and its Affiliates or any transferee or assignee of
the Holder or its Affiliates, all of which securities are subject to the rights provided herein until such rights terminate pursuant to
the provisions of this Agreement. As to any particular Registrable Securities, such securities shall not be Registrable Securities when
(i) a Registration Statement registering such Registrable Securities under the Securities Act has been declared effective and such Registrable
Securities have been sold, transferred or otherwise disposed of by the Holder thereof pursuant to such effective Registration Statement,
(ii) such Registrable Securities are sold, transferred or otherwise disposed of pursuant to Rule 144, (iii) such securities cease to be
outstanding or (iv) such securities have become eligible for sale by the Holder pursuant to Rule 144 without any restriction on the volume
or manner of such sale and all restrictive legends and stop transfer instructions have been removed with respect to all book entries representing
the applicable Registrable Securities.

 

    2

     

    

 

“Registration Expenses” means
all expenses incurred by the Company in complying with this Agreement, including, without limitation, all registration, qualification
and filing fees, printing expenses, escrow fees, fees and expenses of counsel for the Company and one counsel for the Holder, blue sky
fees and expenses and the expense of any special audits incident to or required by any such registration.

 

“Registration Statement” means
a registration statement of the Company filed with or to be filed with the Commission under the Securities Act that covers the resale
of any of the Registrable Securities pursuant to the provisions of this Agreement, and including any Prospectus, amendments and supplements
to each such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material
incorporated by reference or deemed to be incorporated by reference in such registration statement.

 

“Related Person” has the meaning
set forth in Section 9(m).

 

“Representatives” of the Holder
means its partners, shareholders, members, directors, officers, employees, agents, counsel, accountants, consultants, investment advisers
or other professionals or representatives, or its affiliates or wholly owned subsidiaries.

 

“Rule 144” means Rule 144 promulgated
by the Commission pursuant to the Securities Act, or any similar rule or regulation hereafter adopted by the Commission having substantially
the same effect as such Rule.

 

“Rule 405” means Rule 405 promulgated
by the Commission pursuant to the Securities Act, or any similar rule or regulation hereafter adopted by the Commission having substantially
the same effect as such Rule.

 

“Rule 415” means Rule 415 promulgated
by the Commission pursuant to the Securities Act, or any similar rule or regulation hereafter adopted by the Commission having substantially
the same effect as such Rule.

 

“Rule 424” means Rule 424 promulgated
by the Commission pursuant to the Securities Act, or any similar rule or regulation hereafter adopted by the Commission having substantially
the same effect as such Rule.

 

“Rule 430A” means Rule 430A
promulgated by the Commission pursuant to the Securities Act, or any similar rule or regulation hereafter adopted by the Commission having
substantially the same effect as such Rule.

 

“Seasoned Issuer” means an issuer
eligible to use Form S-3 under the Securities Act and who is not an “ineligible issuer” as defined in Rule 405.

 

    3

     

    

 

“Securities Act” means the Securities
Act of 1933, as amended.

 

“Selling Expenses” means all
underwriting fees, discounts, selling commissions and stock transfer taxes applicable to the sale of Registrable Securities and related
legal and other fees of the Holder not included within the definition of Registration Expenses.

 

“Shelf Period” has the meaning
set forth in Section 2(a).

 

“Shelf Registration” means the
registration of an offering of Registrable Securities on a Form S-1 Shelf or a Form S-3 Shelf, as applicable, on a delayed or continuous
basis under Rule 415, pursuant to Section 2(a).

 

“Shelf Registration Statement”
has the meaning set forth in Section 2(a).

 

“Subsequent Registration Statement”
has the meaning set forth in Section 2(a).

 

“Subsequent Shelf Registration Statement”
has the meaning set forth in Section 2(a).

 

“Subsequent Warrant” means any
warrant issued pursuant to the Credit Agreement in connection with the Delayed Draw Loan.

 

“Subsidiary” means, when used
with respect to any Person, any corporation or other entity, whether incorporated or unincorporated, (a) of which such Person or any other
Subsidiary of such Person is a general partner (excluding partnerships, the general partnership interests of which held by such Person
or any Subsidiary of such Person do not have a majority of the voting interests in such partnership) or (b) at least a majority of the
securities or other interests of which having by their terms ordinary voting power to elect a majority of the board of directors or others
performing similar functions with respect to such corporation or other entity is directly or indirectly owned or controlled by such Person
or by any one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries.

 

“Suspension Period” has the
meaning set forth in Section 2(b).

 

“Trading Market” means the principal
national securities exchange in the United States on which the Company Common Stock is listed.

 

Unless the context requires otherwise: (a) any
pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms; (b) references to Sections, paragraphs
and clauses refer to Sections, paragraphs and clauses of this Agreement; (c) the terms “include,” “includes,”
 “including” or words of like import shall be deemed to be followed by the words “without limitation”; (d) the
terms “hereof,” “herein” or “hereunder” refer to this Agreement as a whole and not to any particular
provision of this Agreement; (e) unless the context otherwise requires, the term “or” is not exclusive and shall have the
inclusive meaning of “and/or”; (f) defined terms herein will apply equally to both the singular and plural forms and derivative
forms of defined terms will have correlative meanings; (g) references to any law or statute shall be deemed to refer to such law or statute
as amended or supplemented from time to time and shall include all rules and regulations and forms promulgated thereunder, and references
to any law, rule, form or statute shall be construed as including any legal and statutory provisions, rules or forms consolidating, amending,
succeeding or replacing the applicable law, rule, form or statute; (h) references to any Person include such Person’s successors
and permitted assigns; and (i) references to “days” are to calendar days unless otherwise indicated. Each of the Parties hereto
acknowledges that each Party was actively involved in the negotiation and drafting of this Agreement and that no law or rule of construction
shall be raised or used in which the provisions of this Agreement shall be construed in favor or against any Party hereto because one
is deemed to be the author thereof.

 

    4

     

    

 

2.                 
Registration.

 

(a)              
Shelf Registration.

 

(i) No later than thirty (30) days after the date hereof,
the Company shall file a Registration Statement for a Shelf Registration covering the resale of any Registrable Securities, other than
the Registrable Securities relating to the Subsequent Warrant, with the SEC for an offering to be made on a continuous basis pursuant
to Rule 415, or if Rule 415 is not available for offers and sales of the Registrable Securities, by such other means of distribution of
Registrable Securities as the Holder may reasonably specify (the “Initial Registration Statement”). The Initial Registration
Statement shall be on Form S-3 (or any successor to Form S-3) covering the resale of all of the Registrable Securities held by the Holder
(the “Form S-3 Shelf”), or if the Company is not a Seasoned Issuer at the time of filing, the Company shall file a
Registration Statement for a Shelf Registration on Form S-1 (or any successor to Form S-1) (the “Form S-1 Shelf” and,
together with the Form S-3 Shelf, the “Shelf Registration Statement”). Subject to the terms of this Agreement, including
any applicable Suspension Period, the Company shall cause the Shelf Registration Statement to be declared effective under the Securities
Act as promptly as possible after the filing thereof, but in any event (x) no later than the fifth (5th) day following the filing of the
Shelf Registration Statement in the event of no “review” by the Commission and (y) no later than the seventy-fifth (75th)
day following the filing of the Shelf Registration Statement in the event that the Commission reviews the Shelf Registration Statement
(the number of days in (x) and (y) each being a “Review Period,” depending on the nature of the Commission’s
review, and provided, for any days during the period following the initial filing of the Shelf Registration Statement and prior
to the effectiveness of the Shelf Registration Statement that the Commission is unable to review or declare effective registration statements
filed with the Commission due to a shutdown or partial shutdown of the U.S. government (such days, “Tolled Days”),
the applicable number of days in such Review Period shall be extended by the number of Tolled Days), and shall use its reasonable best
efforts to keep such Shelf Registration Statement continuously effective under the Securities Act until the date that all Registrable
Securities covered by such Registration Statement are no longer Registrable Securities, including (the period during which the Company
shall use its reasonable best efforts to keep the Shelf Registration Statement continuously effective under the Securities Act in accordance
with this clause (i), the “Shelf Period”). The Company shall notify the Holder by e-mail with electronic confirmation
of the effectiveness of the Shelf Registration Statement as promptly as practicable, and in any event within twenty-four (24) hours, after
the Company telephonically or otherwise confirms effectiveness with the Commission. The Company shall file a final Prospectus with the
Commission to the extent required by Rule 424. The “Plan of Distribution” section of such Shelf Registration Statement shall
provide for all permitted means of disposition of Registrable Securities, including firm-commitment underwritten public offerings, agented
transactions, sales directly into the market, purchases or sales by brokers and sales not involving a public offering. Notwithstanding
anything to the contrary contained herein, in the event the Commission informs the Company that all of the Registrable Securities cannot,
as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration statement, the Company
agrees to promptly (A) inform the Holder, (B) file amendments to the Initial Registration Statement as required by the Commission and/or
(C) withdraw the Initial Registration Statement and file a new Registration Statement (a “New Registration Statement”),
in either case covering the maximum number of Registrable Securities permitted to be registered by the Commission, on Form S-3 or, if
the Company is ineligible to register for resale the Registrable Securities on Form S-3, such other form available to register for resale
the Registrable Securities as a secondary offering; provided, however, that prior to filing such amendment or New Registration
Statement, the Company shall be obligated to use its reasonable efforts to advocate with the Commission for the registration of all of
the Registrable Securities. In the event the Company amends the Initial Registration Statement or files a New Registration Statement,
as the case may be, under clauses (B) or (C) above, the Company will use its reasonable efforts to file with the Commission, as promptly
as allowed by the Commission, one or more Registration Statements on Form S-3 or, if the Company is ineligible to register for resale
the Registrable Securities on Form S-3, such other form available to register for resale those Registrable Securities that were not registered
for resale on the Initial Registration Statement, as amended, or the New Registration Statement (the “Remainder Registration
Statements”).

 

    5

     

    

 

(ii) No later than twenty (20) days after the issuance of
any Subsequent Warrant, the Company shall file a Registration Statement for a Shelf Registration covering the resale of any Registrable
Securities not covered by an existing effective Registration Statement with the SEC for an offering to be made on a continuous basis pursuant
to Rule 415, or if Rule 415 is not available for offers and sales of the Registrable Securities, by such other means of distribution of
Registrable Securities as the Holder may reasonably specify (each, a “Subsequent Registration Statement”). Any Subsequent
Registration Statement shall be on Form S-3 (or any successor to Form S-3) covering the resale of any Registrable Securities held by the
Holder (a “Subsequent Form S-3 Shelf”) that are not covered by an existing effective registration statement, or if
the Company is not a Seasoned Issuer at the time of filing, the Company shall file a Registration Statement for a Shelf Registration on
Form S-1 (or any successor to Form S-1) (a “Subsequent Form S-1 Shelf” and, together with the Subsequent Form S-3 Shelf,
the “Subsequent Shelf Registration Statement”). Subject to the terms of this Agreement, including any applicable Suspension
Period, the Company shall cause the Subsequent Shelf Registration Statement to be declared effective under the Securities Act as promptly
as possible after the filing thereof, but in any event (x) no later than the fifth (5th) day following the filing of the Subsequent Shelf
Registration Statement in the event of no “review” by the Commission and (y) no later than the seventy-fifth (75th) day following
the filing of the Subsequent Shelf Registration Statement in the event of the Commission reviews the Subsequent Shelf Registration Statement
(the number of days in (x) and (y) each being a “Review Period,” depending on the nature of the Commission’s review,
and provided that the applicable number of days in such Review Period shall be extended by the number of Tolled Days), and shall use its
reasonable best efforts to keep such Subsequent Shelf Registration Statement continuously effective under the Securities Act until the
date that all Registrable Securities covered by such Registration Statement are no longer Registrable Securities, including (the period
during which the Company shall use its reasonable best efforts to keep the Subsequent Shelf Registration Statement continuously effective
under the Securities Act in accordance with this clause (i), the “Subsequent Shelf Period”). The Company shall notify
the Holder by e-mail with electronic confirmation of the effectiveness of the Subsequent Shelf Registration Statement as promptly as practicable,
and in any event within twenty-four (24) hours, after the Company telephonically or otherwise confirms effectiveness with the Commission.
The Company shall file a final Prospectus with the Commission to the extent required by Rule 424. The “Plan of Distribution”
section of such Subsequent Shelf Registration Statement shall provide for all permitted means of disposition of Registrable Securities,
including firm-commitment underwritten public offerings, agented transactions, sales directly into the market, purchases or sales by brokers
and sales not involving a public offering. Notwithstanding anything to the contrary contained herein, in the event the Commission informs
the Company that all of the Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary
offering on a single registration statement, the Company agrees to promptly (A) inform the Holder, (B) file amendments to the Subsequent
Registration Statement as required by the Commission and/or (C) withdraw the Subsequent Registration Statement and file a new Subsequent
Registration Statement (a “New Subsequent Registration Statement”), in either case covering the maximum number of Registrable
Securities permitted to be registered by the Commission, on Form S-3 or, if the Company is ineligible to register for resale the Registrable
Securities on Form S-3, such other form available to register for resale the Registrable Securities as a secondary offering; provided,
however, that prior to filing such amendment or New Subsequent Registration Statement, the Company shall be obligated to use its reasonable
efforts to advocate with the Commission for the registration of all of the Registrable Securities. In the event the Company amends the
Subsequent Registration Statement or files a New Subsequent Registration Statement, as the case may be, under clauses (B) or (C) above,
the Company will use its reasonable efforts to file with the Commission, as promptly as allowed by the Commission, one or more Registration
Statements on Form S-3 or, if the Company is ineligible to register for resale the Registrable Securities on Form S-3, such other form
available to register for resale those Registrable Securities that were not registered for resale on the Subsequent Registration Statement,
as amended, or the New Subsequent Registration Statement (the “Remainder Subsequent Registration Statements”)

 

    6

     

    

 

(b)              
Suspension Period. Notwithstanding any other provision of this Section 2, the Company shall have the right, but not
the obligation, to defer the filing of (but not the preparation of), or suspend the use by the Holder of, any Registration Statement for
the shortest period possible, in no event to exceed thirty (30) days (i) upon issuance by the Commission of a stop order suspending the
effectiveness of such Registration Statement with respect to Registrable Securities or the initiation of proceedings with respect to such
Registration Statement under Section 9(d) or 8(e) of the Securities Act; or (ii) if the Company believes in good faith that any such registration
or offering would require the Company (after consultation with external legal counsel), under applicable securities laws and other laws,
to make disclosure of material nonpublic information that would not otherwise be required to be disclosed at that time that would be materially
adverse to the Company (any such period, a “Suspension Period”); provided, that in no event shall the Company
declare Suspension Periods lasting more than 60 days in the aggregate in any twelve (12) month period. The Company shall (i) give prompt
written notice to the Holder of its declaration of a Suspension Period and of the expiration or termination of the relevant Suspension
Period and (ii) promptly resume the process of filing or requesting for effectiveness, or update the suspended Registration Statement,
as the case may be, as may be necessary to permit the Holder to offer and sell its Registrable Securities in accordance with applicable
law.

 

    7

     

    

 

(c)              
Required Information. The Company may require the Holder of Registrable Securities as to which any Registration Statement
is being filed or sale is being effected to furnish to the Company such information regarding the intended method of distribution of such
securities and such other information relating to the Holder and its ownership of Registrable Securities as the Company may from time
to time reasonably request in writing (provided that such information shall be used only in connection with such registration).
The Holder agrees to furnish such information to the Company and to cooperate with the Company as reasonably necessary to enable the Company
to comply with the provisions of this Agreement.

 

(d)              
Cessation of Registration Rights. All registration rights granted under this Section 2 shall continue to be applicable
with respect to the Holder until the Holder no longer holds any Registrable Securities.

 

3.                 
Registration Procedures. The procedures to be followed by the Company and the Holder to register the sale of
Registrable Securities pursuant to a Registration Statement in accordance with this Agreement, and the respective rights and obligations
of the Company and the Holder with respect to the preparation, filing and effectiveness of such Registration Statement, are as follows:

 

(a)              
The Company shall (i) prepare and file a Registration Statement with the Commission (within the time period specified in Section
2(a)) which Registration Statement (A) shall be on a form required by this Agreement (or if not so required, selected by the Company)
for which the Company qualifies, (B) shall be available for the sale of the Registrable Securities in accordance with the intended method
or methods of distribution, and (C) shall comply as to form in all material respects with the requirements of the applicable form and
include and/or incorporate by reference all financial statements required by the Commission to be filed therewith, (ii) use its reasonable
best efforts to cause such Registration Statement to become effective and remain effective for the period provided under Section 2(a),
(iii) use its reasonable best efforts to prevent the occurrence of any event that would cause a Registration Statement to contain a material
misstatement or omission or to be not effective and usable for resale of the Registrable Securities registered pursuant thereto (during
the period that such Registration Statement is required to be effective as provided under Section 2(a)), and (iv) cause each Registration
Statement and the related Prospectus and any amendment or supplement thereto, as of the effective date of such Registration Statement,
amendment or supplement, (x) to comply in all material respects with any requirements of the Securities Act and the rules and regulations
of the Commission and (y) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading (provided, however, the Company shall have no liability
for any information furnished in writing by or on behalf of the Holder to the Company specifically for inclusion in (including by incorporation
by reference) any such Registration Statement that has not been corrected in a subsequent writing to the Company prior to the filing or
other disclosure of such information). The Company will, (1) at least three (3) Business Days prior to the anticipated filing of a Registration
Statement or any related Prospectus or any amendment or supplement thereto (including any documents incorporated by reference therein),
furnish to the Holder and its counsel copies of all such documents proposed to be filed and make such representatives of the Company as
shall be reasonably requested by the Holder available for discussion of such documents, (2) use its reasonable best efforts to address
in each such document prior to being so filed with the Commission such comments as the Holder or its counsel reasonably shall propose
within two (2) Business Days of receipt of such copies by the Holder and (3) not file any Registration Statement or any related Prospectus
or any amendment or supplement thereto containing information regarding the Holder to which the Holder objects, unless such information
is required to comply with any applicable law or regulation.

 

    8

     

    

 

(b)              
The Company will as promptly as reasonably practicable (i) prepare and file with the Commission such amendments, including post-effective
amendments, and supplements to each Registration Statement and the Prospectus used in connection therewith as (A) may be reasonably requested
by the Holder of Registrable Securities covered by such Registration Statement necessary to permit the Holder to sell in accordance with
its intended method of distribution, including as may be required in connection with any underwritten distribution of Registrable Securities
or (B) may be necessary under applicable law to keep such Registration Statement continuously effective with respect to the disposition
of all Registrable Securities covered thereby for the period provided under Section 2(a) in accordance with the intended method
of distribution and, subject to the limitations contained in this Agreement, prepare and file with the Commission such additional Registration
Statements in order to register for resale under the Securities Act all of the Registrable Securities held by the Holder, (ii) cause the
related Prospectus to be amended or supplemented by any required prospectus supplement, and as so supplemented or amended, to be filed
pursuant to Rule 424, (iii) respond to any comments received from the Commission with respect to each Registration Statement or Prospectus
or any amendment thereto, (iv) as promptly as reasonably practicable, provide the Holder true and complete copies of all correspondence
from and to the Commission relating to such Registration Statement or Prospectus other than any comments that the Company determines in
good faith would result in the disclosure to the Holder of material non-public information concerning the Company that is not already
in the possession of the Holder and (v) enter into such customary agreements (including, as applicable, underwriting agreements in customary
form) and take all such other actions as the Holder the underwriters, if any, reasonably request in order to expedite or facilitate the
disposition of Registrable Securities under such Registration Statement or Prospectus and otherwise to facilitate, cooperate with and
participate in each proposed offering contemplated herein and customary selling efforts related thereto. The Company will comply in all
material respects with the provisions of the Securities Act and the Exchange Act (including Regulation M under the Exchange Act) with
respect to each Registration Statement and the disposition of all Registrable Securities covered by each Registration Statement.

 

    9

     

    

 

(c)              
The Company will notify the Holder as promptly as practicable: (i)(A) when a Registration Statement, any pre-effective amendment,
any Prospectus or any prospectus supplement or post-effective amendment to a Registration Statement is proposed to be filed; (B) when
the Commission notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission
comments on such Registration Statement (in which case the Company shall provide true and complete copies thereof and all written responses
thereto to the Holder and its counsel, other than information which the Company determines in good faith would constitute material non-public
information that is not already in the possession of the Holder); and (C) with respect to each Registration Statement or any post-effective
amendment thereto, when the same has been declared effective; (ii) of any request by the Commission or any other federal or state governmental
or regulatory authority for amendments or supplements to a Registration Statement or Prospectus or for additional information (whether
before or after the effective date of the Registration Statement) or any other correspondence with the Commission or any such authority
relating to, or which may affect, the Registration Statement; (iii) of the issuance by the Commission or any other governmental or regulatory
authority of any stop order, injunction or other order or requirement suspending the effectiveness of a Registration Statement covering
any or all of the Registrable Securities or preventing or suspending the use of any Prospectus or the initiation or threatening of any
Proceedings for such purpose; (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification
or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of
any Proceeding for such purpose; or (v) of the occurrence of any event that makes any statement made in such Registration Statement or
Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or if, as a result
of such event or the passage of time, such Registration Statement, Prospectus or other documents requires revisions so that, in the case
of such Registration Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in
light of the circumstances under which they were made) not misleading, or if, for any other reason, it shall be necessary during such
time period to amend or supplement such Registration Statement or Prospectus in order to comply with the Securities Act, which shall correct
such misstatement or omission or effect such compliance.

 

(d)              
The Company will use its reasonable best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any stop
order or other order suspending the effectiveness of a Registration Statement, or preventing or suspending the use of any Prospectus,
or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction,
as promptly as practicable, or if any such order or suspension is made effective during any Suspension Period, as promptly as practicable
after the Suspension Period is over.

 

(e)              
During the Shelf Period or Subsequent Shelf Period, upon request of the Holder and without charge, the Company shall furnish to
the Holder and its counsel, (i) promptly after the same is prepared and filed with the SEC, at least one copy of the Registration Statement
and any amendment(s) thereto, including all documents incorporated therein by reference and all exhibits to the extent requested by the
Holder or its counsel, (ii) upon the effectiveness of any amendment(s) to a Registration Statement, a copy of the prospectus included
in such Registration Statement and all amendments and supplements thereto (or such other number of copies as the Holder may reasonably
request) and (iii) such other documents, including copies of any preliminary or final prospectus, as the Holder may reasonably request
from time to time in order to facilitate the disposition of the Registrable Securities owned by the Holder.

 

    10

     

    

 

(f)               
The Company will promptly deliver to the Holder and its counsel as many copies of each Prospectus or Prospectuses (including each
form of prospectus) and each amendment or supplement thereto as the Holder or its counsel may reasonably request in order to facilitate
the disposition of the Registrable Securities by the Holder. The Company hereby consents to the use of such Prospectus and each amendment
or supplement thereto by the Holder in connection with the offering and sale of the Registrable Securities covered by such Prospectus
and any amendment or supplement thereto, so long as the same are used in compliance with the Securities Act and all other applicable laws
and regulations.

 

(g)              
To the extent that the Company has certificated shares of Company Common Stock, the Company will cooperate with the Holder to facilitate
the timely preparation and delivery of certificates representing Registrable Securities to be delivered to a transferee pursuant to a
Registration Statement, which certificates shall be free of all restrictive legends indicating that the Registrable Securities are unregistered
or unqualified for resale under the Securities Act, Exchange Act or other applicable securities laws, and to enable such Registrable Securities
to be in such denominations and registered in such names as the Holder may request in writing. In connection therewith, if required by
the Company’s transfer agent, the Company will promptly, after the effective date of the Registration Statement, cause an opinion
of counsel as to the effectiveness of the Registration Statement to be delivered to and maintained with such transfer agent, together
with any other authorizations, certificates and directions required by the transfer agent which authorize and direct the transfer agent
to issue such Registrable Securities without any such legend upon sale by the Holder of such Registrable Securities pursuant to the Registration
Statement.

 

(h)              
Upon the occurrence of any event contemplated by Section 3(d)(v), as promptly as practicable, the Company will prepare a
supplement or amendment, including a post-effective amendment, if required by applicable law, to the affected Registration Statement or
a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other
required document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case
of a Prospectus, in light of the circumstances under which they were made) not misleading, such that the Holder can resume disposition
of such Registrable Securities covered by such Registration Statement or Prospectus.

 

(i)                
The Company will comply with all applicable rules and regulations of the Commission, the Trading Market and FINRA.

 

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(j)                
The Holder agrees by its acquisition of Registrable Securities that, upon receipt of a notice from the Company of the occurrence
of any event of the kind described in clauses (ii) through (v) of Section 3(d) or the occurrence of a Suspension Period, the Holder
will forthwith discontinue disposition of such Registrable Securities under the applicable Registration Statement until the Holder’s
receipt of the copies of the supplemental Prospectus or amended Registration Statement or until it is advised in writing by the Company
that the use of the applicable Prospectus may be resumed, and, in either case, has received copies of any additional or supplemental filings
that are incorporated or deemed to be incorporated by reference in such Prospectus or Registration Statement. In the event the Company
shall give any such notice, the period during which the applicable Registration Statement is required to be maintained effective shall
be extended by the number of days during the period from and including the date of the giving of such notice to and including the date
when the Holder either receives the copies of the supplemented Prospectus or amended Registration Statement or is advised in writing by
the Company that the use of the Prospectus may be resumed.

 

(k)              
If such Registrable Securities are to be sold by any method or in any transaction other than on a national securities exchange
or in the over-the-counter market, in privately negotiated transactions, or in a combination of such methods, the Holder shall notify
the Company at least five (5) Business Days prior to the date on which the Holder first offers to sell any such Registrable Securities.

 

4.                 
Registration Expenses. All Registration Expenses incurred by the Company and the Holder in connection with any
registration, qualification, exemption or compliance pursuant to Section 2 hereof shall be borne by the Company.

 

5.                 
Indemnification.

 

(a)              
To the fullest extent permitted by law, the Company shall indemnify and hold harmless the Holder, its partners, stockholders, equity
holders, general partners, managers, members and Affiliates and each of their respective officers and directors and any Person who controls
the Holder (within the meaning of the Securities Act or the Exchange Act) and any employee or Representative thereof (each, a “Company
Indemnified Person” and collectively, “Company Indemnified Persons”), from and against any and all losses,
claims, damages, liabilities, joint or several, costs (including reasonable costs of preparation and reasonable attorneys’, accountants’
and experts’ fees) and expenses, judgments, fines, penalties, interest, settlements or other amounts arising from any claims, demands,
actions, suits or proceedings, whether civil, criminal, administrative or investigative, in which any Company Indemnified Person may be
involved, or is threatened to be involved, as a party or otherwise, under the Securities Act, the Exchange Act or otherwise (collectively,
 “Losses”), as incurred, arising out of, based upon, resulting from or relating to (i) any untrue or alleged untrue
statement of a material fact contained in any Registration Statement under which any Registrable Securities were registered, Prospectus
(including in any preliminary prospectus (if used prior to the effective date of such Registration Statement)), or in any summary or final
prospectus or in any amendment or supplement thereto or in any documents incorporated or deemed incorporated by reference in any of the
foregoing or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make
the statements made therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading,
or (iii) any violation or alleged violation by the Company or any of its Subsidiaries of the Securities Act, the Exchange Act, any state
securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any federal, state, foreign or common
law rule or regulation in connection with such Registration Statement, disclosure document or related document or report or any offering
covered by such Registration Statement, and the Company shall reimburse such Company Indemnified Person for any reasonable legal or other
expenses reasonably incurred by it in connection with investigating or defending any such Loss, claim, damage, liability, demand, action,
suit or proceeding (the matters in the foregoing clauses (i) through (iii) being, collectively, “Company Violations”).
Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section 5(a): (A) shall not
apply to a Loss by a Company Indemnified Person arising out of or based upon a Company Violation which occurs in reliance upon and in
conformity with information furnished in writing to the Company by the Holder or such Company Indemnified Person expressly for use in
connection with the preparation of such Registration Statement, such preliminary, summary or final prospectus or such amendment or supplement,
or other disclosure document; (B) with respect to any superseded prospectus, shall not inure to the benefit of any such person from whom
the person asserting any such Loss purchased the Registrable Securities that are the subject thereof (or to the benefit of any other Company
Indemnified Person) if the untrue statement or omission of material fact contained in the superseded prospectus was corrected in the revised
prospectus, as then amended or supplemented, if such revised prospectus was timely made available by the Company pursuant to Section 3(f),
and the Company Indemnified Person was promptly advised in writing not to use the incorrect prospectus prior to the use giving rise to
a violation; (C) shall not be available to the extent such Loss is based on a failure of the Holder to deliver, or to cause to be delivered,
the prospectus made available by the Company, if such prospectus was theretofore made available by the Company pursuant to Section 3(f);
and (D) shall not apply to amounts paid in settlement of any Loss if such settlement is effected without the prior written consent of
the Company, which consent shall not be unreasonably withheld, conditioned or delayed.

 

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(b)              
In connection with any Registration Statement filed by the Company pursuant to Section 2(a) hereof in which the Holder has
registered for sale its Registrable Securities, the Holder agrees to indemnify and hold harmless, to the fullest extent permitted by law,
the Company, its directors and officers, employees, agents and each Person who controls the Company (within the meaning of the Securities
Act or the Exchange Act) (collectively, “Holder Indemnified Persons,” and together with the Company Indemnified Persons,
each an “Indemnified Person,” and collectively, the “Indemnified Persons”) from and against any
Losses resulting from (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which
such Registrable Securities were registered or sold under the Securities Act, Prospectus (including in any preliminary prospectus (if
used prior to the effective date of such Registration Statement)), or in any summary or final prospectus or in any amendment or supplement
thereto or in any documents incorporated by reference in any of the foregoing, (ii) any omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in light of
the circumstances under which they were made) not misleading, or (iii) any violation or alleged violation by the Holder of any federal,
state or common law rule or regulation relating to action or inaction in connection with any information provided by the Holder in such
registration, disclosure document or related document or report in the case of clauses (i) and (ii) to the extent, but only to the extent,
that such untrue statement or omission occurs in reliance upon and in conformity with any information furnished in writing by or on behalf
of the Holder specifically for inclusion in such registration, disclosure document or related document or report and has not been corrected
in a subsequent writing prior to the sale of the Registrable Securities thereunder, and the Holder will reimburse the Company for any
legal or other expenses reasonably incurred by it in connection with investigating or defending such Losses. In no event shall the liability
of the Holder hereunder be greater in amount than the dollar amount of the net proceeds (after deducting the underwriters’ discounts
and commissions) received by the Holder under the sale of Registrable Securities giving rise to such indemnification obligation.

 

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(c)              
Any Indemnified Person under paragraph (a) or (b) of this Section 5 shall (i) give prompt written notice to the indemnifying
person under paragraph (a) or (b) of this Section 5 of any claim with respect to which it seeks indemnification (provided
that any delay or failure to so notify the indemnifying person shall not relieve the indemnifying party of its obligations hereunder except
to the extent, if at all, that the indemnifying person’s ability to defend such claim (through the forfeiture of substantive rights
or defenses) is actually and materially prejudiced by reason of such delay or failure) and (ii) permit such indemnifying person to assume
the defense of such claim with counsel reasonably satisfactory to the Indemnified Person; provided, however, that any Indemnified
Person shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses
of such counsel shall be at the expense of such Indemnified Person unless (A) the indemnifying person has agreed in writing to pay such
fees or expenses, (B) the Indemnified Person has reasonably concluded (based upon advice of its counsel) that there may be legal defenses
available to it or other Indemnified Persons that are different from or in addition to those available to the indemnifying person, or
(C) in the reasonable judgment of any such Indemnified Person (based upon advice of its counsel) a conflict of interest may exist between
such Indemnified Person and the indemnifying person with respect to such claims (in which case, if the Indemnified Person notifies the
indemnifying person in writing that such Indemnified Person elects to employ separate counsel at the expense of the indemnifying person,
the indemnifying person shall not have the right to assume the defense of such claim on behalf of such Indemnified Person). If any action
is settled or if there be a final judgment for the plaintiff, the indemnifying person agrees to indemnify each Indemnified Person from
and against any Losses by reason of such settlement or judgment. No action may be settled without the written consent of the Indemnified
Person, provided that the consent of the Indemnified Person shall not be required if (x) such settlement includes an unconditional
release of such Indemnified Person in form and substance satisfactory to such Indemnified Person from all liability on the claims that
are the subject matter of such settlement; (y) such settlement provides solely for the payment by the indemnifying person of money as
the sole relief for such action and (z) such settlement does not include any statement as to or any admission of fault, culpability or
a failure to act by or on behalf of any Indemnified Person. It is understood that the indemnifying person or persons shall not, except
as specifically set forth in this Section 5(c), in connection with any proceeding or related proceedings in the same jurisdiction,
be liable for the reasonable fees, disbursements or other charges of more than one separate firm (in addition to any local counsel that
is required to effectively defend against any such proceeding) for all Indemnified Persons and that all such fees and expenses shall be
paid or reimbursed promptly.

 

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(d)              
If the indemnification provided for in this Section 5 is held by a court of a competent jurisdiction to be unavailable to
an Indemnified Person with respect to any loss, damage, claim or liability, the indemnifying party, in lieu of indemnifying such Indemnified
Person thereunder, shall to the extent permitted by law, contribute to the amount paid or payable by such Indemnified Person as a result
of such loss, damage, claim or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party
on the one hand and of the Indemnified Person on the other in connection with the actions that resulted in such loss, claim, damage or
liability, as well as any other relevant equitable considerations. The relative fault of the indemnifying person and of the Indemnified
Person shall be determined by a court of law by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission to state a material fact relates to information supplied by the indemnifying person or Indemnified Person
and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.
The Parties agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro
rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately
preceding sentences. Notwithstanding the provisions of this Section 5(d), the Holder shall not be required to contribute any amount
in excess of the net proceeds (after deducting the underwriters’ discounts and commissions) received by the Holder under the sale
of Registrable Securities giving rise to such indemnification obligation. No Person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation.

 

(e)              
The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or remedies which may otherwise
be available to any Indemnified Person at law or in equity. The obligations of the Company and the Holder under this Section 5
shall survive completion of any offering of Registrable Securities pursuant to a Registration Statement and the termination of this Agreement.

 

6.                 
Facilitation of Sales Pursuant to Rule 144. The Company shall timely file the reports required to be filed by
it under the Exchange Act or the Securities Act and the rules adopted by the Commission thereunder (including the reports under Sections
13 and 15(d) of the Exchange Act referred to in subparagraph (c)(1) of Rule 144), all to the extent required from time to time to enable
the Holder to sell Registrable Securities without registration under the Securities Act within the limitations of the exemption provided
by Rule 144. Upon the written request of the Holder in connection with that Holder’s sale pursuant to Rule 144, the Company shall
deliver to the Holder a written statement as to whether it has complied with such requirements.

 

7.                 
Registration Rights Covenant. The Company covenants that it will not, and it will cause its Subsidiaries not
to, grant any right of registration under the Securities Act to any Person other than pursuant to this Agreement, unless the rights so
granted to another Person do not limit or restrict the rights of the Holder hereunder.

 

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8.                 
Miscellaneous.

 

(a)              
Remedies. In the event of a breach by the Company or the Holder of any of its obligations under this Agreement, any Party,
in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled
to specific performance of its rights under this Agreement. The Parties agree that monetary damages would not provide adequate compensation
for any losses incurred by reason of a breach by the Company of any of the provisions of this Agreement and further agree that, in the
event of any action for specific performance in respect of such breach, the Company shall waive the defense that a remedy at law would
be adequate and shall waive any requirement for the posting of a bond. No failure or delay by any Person in exercising any right, power
or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further
exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and
not exclusive of any rights or remedies provided by law.

 

(b)              
Amendment; Modification; Waivers. This Agreement may be amended or waived if, and only if, such amendment or waiver is in
writing and signed by the Company and the Holder, which writing shall specifically reference this Agreement, specify the provision(s)
hereof that it is intended to amend or waive and further specify that it is intended to amend or waive such provision(s).

 

(c)              
Notices. All notices and other communications in connection with this Agreement shall be in writing and shall be deemed
given if delivered personally, sent via electronic mail (with confirmation), mailed by registered or certified mail (return receipt requested)
or delivered by an express courier (with confirmation) to the Parties at the following addresses (or at such other address for a Party
as may be specified by like notice):

 

If to the Company:

 

DarioHealth, Corp.

18 W. 18th St.

New York, New York 10011

Attention: Erez Raphael (Erez@Mydario.com)
and Zvi Ben-David (zvi@Mydario.com)

 

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

 

Sullivan & Worcester LLP

1633 Broadway, 32nd Floor

New York, New York 10019

Attention: Oded Har-Even (ohareven@sullivanlaw.com) and Ron Ben-Bassat (rbenbassat@sullivanlaw.com)

 

If to the Holder:

 

OrbiMed Royalty & Credit Opportunities
III, LP

c/o OrbiMed Advisors LLC

601 Lexington Avenue, 54th
Floor

New York, NY 10022

Attention: OrbiMed Credit Reporting

Email: RoSCreditOps@OrbiMed.com

 

    16

     

    

 

with copy (which shall not constitute
notice) to:

 

Covington & Burling LLP

The New York Times Building

620 Eighth Avenue

Attention: Peter A. Schwartz

Email: pschwartz@cov.com

 

(d)              
Governing Law; Jurisdiction; Waiver of Jury Trial. This Agreement shall be governed by and construed in accordance with
the internal Laws of the State of New York without effect to any choice or conflict of Law provision or rule (whether of the State of
New York or any other jurisdiction) that would cause the application of Laws of any jurisdiction other than those of the State of New
York. In any action or proceeding between any of the parties arising out of or relating to this Agreement, each of the parties: (a) irrevocably
and unconditionally consents and submits to the exclusive jurisdiction and venue of the federal courts of the United States or the courts
of the State of New York, in each case located in the city and county of New York; (b) agrees that all claims in respect of such action
or proceeding shall be heard and determined exclusively in accordance with clause (a) of this Section 8(d); (c) waives any objection
to laying venue in any such action or proceeding in such courts; (d) waives any objection that such courts are an inconvenient forum or
do not have jurisdiction over any party hereto; and (e) irrevocably and unconditionally waives the right to trial by jury.

 

(e)              
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective
heirs, executors, administrators, successors, legal representatives and permitted assigns. The Holder may not assign its rights under
this Agreement without the prior written consent of the Company.

 

(f)               
Waiver of Venue. The Parties irrevocably and unconditionally waive, to the fullest extent permitted by applicable law, (i)
any objection that they may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this
Agreement in any court referred to in Section 9(d) and (ii) the defense of an inconvenient forum to the maintenance of such action
or proceeding in any such court.

 

(g)              
Waiver of Trial by Jury. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS
LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PERSON HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT
SUCH PERSON MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT.
EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PERSON HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) SUCH PERSON UNDERSTANDS
AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) SUCH PERSON MAKES THIS WAIVER VOLUNTARILY, AND (iv) SUCH PERSON HAS BEEN INDUCED
TO ENTER INTO THIS AGREEMENT AND EACH ANCILLARY AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

    17

     

    

 

(h)              
Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision
hereof shall not affect the validity or enforceability of any other provision. Whenever possible, each provision or portion of any provision
of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this
Agreement, or the application thereof to any Person or any circumstance, is invalid or unenforceable, (i) a suitable and equitable provision
shall be substituted therefor to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable
provision and (ii) the remainder of this Agreement and the application of such provision to other Persons or circumstances shall not be
affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of
such provision, or the application thereof, in any other jurisdiction; provided, that, if any one or more of the provisions contained
in this Agreement shall be determined to be excessively broad as to activity, subject, duration or geographic scope, it shall be reformed
by limiting and reducing it to the minimum extent necessary, so as to be enforceable under applicable law.

 

(i)                
Business Days. If the last or appointed day for the taking of any action or the expiration of any right required or granted
herein shall be a day other than a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business
Day.

 

(j)                
Entire Agreement. This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof
and supersedes all prior contracts or agreements with respect to the subject matter hereof and supersedes any and all prior or contemporaneous
discussions, agreements and understandings, whether oral or written, that may have been made or entered into by or among any of the Parties
or any of their respective Affiliates relating to the transactions contemplated hereby.

 

(k)              
Execution of Agreement. This Agreement may be executed and delivered (by facsimile, by electronic mail in Adobe Portable
Document Format (.pdf) or otherwise) in any number of counterparts, each of which, when executed and delivered, shall be deemed an original,
and all of which together shall constitute the same agreement.

 

(l)                
Determination of Ownership. In determining ownership of Company Common Stock hereunder for any purpose, the Company may
rely solely on the records of the transfer agent for the Company Common Stock from time to time, or, if no such transfer agent exists,
the Company’s stock ledger.

 

    18

     

    

 

(m)            
No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, each Party covenants, agrees and
acknowledges that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement shall be
had against any of the Company’s or the Holder’s former, current or future direct or indirect equity holders, controlling
persons, stockholders, directors, officers, employees, agents, Affiliates, members, financing sources, managers, general or limited partners
or assignees (each, a “Related Person” and collectively, the “Related Persons”), in each case other
than the Company, the Holder or any of their respective permitted assigns under this Agreement, whether by the enforcement of any assessment
or by any legal or equitable proceeding, or by virtue of any applicable law, it being expressly agreed and acknowledged that no personal
liability whatsoever shall attach to, be imposed on or otherwise be incurred by any of the Related Persons, as such, for any obligation
or liability of the Company or the Holder under this Agreement or any documents or instruments delivered in connection herewith for any
claim based on, in respect of or by reason of such obligations or liabilities or their creation; provided, however, nothing
in this Section 9(m) shall relieve or otherwise limit the liability of the Company or the Holder, as such, for any breach or violation
of its obligations under this Agreement or such agreements, documents or instruments. For the avoidance of doubt, none of the Parties
will have any recourse, be entitled to commence any proceeding or make any claim under this Agreement or in connection with the transactions
contemplated hereby except against any of the Parties or their respective successors and permitted assigns, as applicable.

 

(n)              
Third-Party Beneficiaries. Nothing in this Agreement, express or implied, is intended to confer upon any Person other than
a Party and its successors and permitted assigns any rights, benefits or remedies of any nature whatsoever.

 

(o)              
Headings; Section References; Signatories. All heading references contained in this Agreement are for convenience purposes
only and shall not be deemed to limit or affect any of the provisions of this Agreement.

 

[Signature Pages Follow]

 

    19

     

    

 

IN WITNESS WHEREOF, the undersigned Parties have
executed this Agreement as of the date first written above.

 

	 	DARIOHEALTH CORP
	 	 
	 	 
	 	By:	/s/
    Erez Raphael              
	 	Name: 	Erez Raphael
	 	Title: 	CEO
	 	 	 

 

	 	
    ORBIMED ROYALTY & CREDIT OPPORTUNITIES III, LP

     

    By: ORBIMED ROF III, LLC,

    its General Partner

     

    By: ORBIMED ADVISORS LLC,

    its Managing Member

	 	 
	 	 
	 	By:	/s/
    Matthew Rizzo               
	 	Name: 	Matthew Rizzo
	 	Title: 	Member
	 	 	 

 

[Signature Page to Registration Rights Agreement]

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