Document:

Exhibit 10.4

    

  

    
    REGISTRATION RIGHTS AGREEMENT

    

    

    THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of August 5, 2022 (the “Closing Date”), by and among SANUWAVE Health, Inc., a Nevada corporation (the “Company”), and each lender identified on the signature
      pages hereto (including their successors and assigns, the “Lenders,” and each, a “Lender”).

    

    

    RECITALS

    

    

    WHEREAS, the Company and the Lenders are parties to a certain Securities Purchase Agreement (the “Purchase

          Agreement”), dated as of the date hereof, as such may be amended and supplemented from time to time, pursuant to which the Company has issued to each Lender a certain Future Advance Convertible Promissory Note, dated as of the date
      hereof, as such may be amended and supplemented from time to time (the “Note”);

    

    

    WHEREAS, the Company and the Lenders are parties to Common Stock Purchase Warrants (the “Warrants”)

      of even date herewith for the purchase of an aggregate of [●] shares of Common Stock;

    

    

    WHEREAS, the Lenders’ obligations under the Purchase Agreement and the Notes are conditioned upon certain registration rights under the Securities Act
      of 1933, as amended (the “Securities Act”); and

    

    

    WHEREAS, the Lenders and the Company desire to provide for the rights of registration under the Securities Act as are provided herein upon the
      execution and delivery of this Agreement by the Lenders and the Company.

    

    

    NOW, THEREFORE, in consideration of the promises, covenants and conditions set forth herein, the parties hereto hereby agree as follows:

    

    

    1. Registration Rights.

    

    

    1.1 Definitions. Capitalized terms not otherwise defined herein shall have the meaning
      ascribed to them in the Purchase Agreement. As used in this Agreement, the following terms shall have the meanings set forth below:

    

    

    (a)          “Business Day” means any day except Saturday, Sunday and any day which shall be a legal holiday or a day on which banking institutions in the State of New York generally are authorized or required by law or other
          government actions to close.

    

    

    (b)          “Commission” means the United States Securities and Exchange Commission.

    

    

    (c)          “Common Stock” means the Company’s common stock, par value $0.001.

    

    

    (d)          “Effectiveness Date” means the 180th day following the Closing Date.

     

        

    
      
        

    

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

    

    

    (f)          “Filing Date” means sixty (60) days after the Closing Date.

    

    

    (g)          “Holder” or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities.

    

    

    (h)          “Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an
          agency or subdivision thereof) or other entity of any kind.

    

    

    (i)          The terms “register,” “registered” and “registration” refer to a registration effected by preparing
          and filing a registration statement or similar document in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement or document.

    

    

    (j)          “Registrable Securities” means all of the shares of Common Stock issuable upon conversion of the Notes and exercise of the Warrants issued pursuant to the Purchase Agreement as of the effective date of the registration
          statement described in Section 1.2(a) below; provided, however, that Registrable Securities shall not include any securities
          of the Company that have previously been registered and remain subject to a currently effective registration statement or which have been sold to the public either pursuant to a registration statement or Rule 144, or which have been sold in a
          private transaction in which the transferor’s rights under this Section 1 are not assigned.

    

    

    (k)          “Registration Statement” means any registration statement of the Company filed under the Securities Act that covers the resale of any of the Registrable Securities, including amendments and supplements to any such
          registration statement, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in any such registration statement.

    

    

    (l)          “Rule 144” means Rule 144 as promulgated by the Commission under the Securities Act, as such rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission.

     

    (m)          “Rule 415” means Rule 415 as promulgated by the Commission under the Securities Act, as such Rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission.

     

    

    
      2

      
        

    

    1.2          Company Registration.

     

    (a) On or prior to the Filing Date, the Company shall prepare and file with the Commission a Registration Statement covering the Registrable
      Securities for an offering to be made on a continuous basis pursuant to Rule 415. The Registration Statement shall be on Form S-1 or, if the Company is so eligible, on Form S-3 (except if the Company is not then eligible to register for resale the
      Registrable Securities on Form S-1 or Form S-3, as the case may be, in which case such registration shall be on another appropriate form in accordance herewith) and shall contain (unless otherwise directed by Holders holding an aggregate of at least
      a majority of the Registrable Securities on a fully diluted basis) substantially the “Plan of Distribution” attached hereto as Annex A.
      The Company shall cause the Registration Statement to become effective and remain effective as provided herein. The Company shall use its reasonable best efforts to cause the Registration Statement to be declared effective under the Securities Act as
      soon as possible and, in any event, by the Effectiveness Date. The Company shall use its best efforts to keep the Registration Statement continuously effective under the Securities Act until all Registrable Securities covered by such Registration
      Statement have been sold or may be sold without the requirement to be in compliance with Rule 144(c)(1) and otherwise without restriction or limitation pursuant to Rule 144, as determined by the counsel to the Company (the “Effectiveness Period”).

    

    

    (b) The Company shall prepare and file with the Commission such amendments, including post-effective amendments, to the Registration Statement as may
      be necessary to keep the Registration Statement continuously effective as to the applicable Registrable Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration Statements as necessary in order to
      register for resale under the Securities Act all of the Registrable Securities; (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
      (or any similar provisions then in force) promulgated under the Securities Act; (iii) respond as promptly as possible, but in no event later than twenty (20) Business Days, to any comments received from the Commission with respect to the Registration
      Statement or any amendment thereto and as promptly as possible provide the Holders true and complete copies of all correspondence from and to the Commission relating to the Registration Statement; (iv) file the final prospectus pursuant to Rule 424
      of the Securities Act no later than two (2) Business Days following the date the Registration Statement is declared effective by the Commission; and (v) comply in all material respects with the provisions of the Securities Act and the Exchange Act
      with respect to the disposition of all Registrable Securities covered by the Registration Statement during the Effectiveness Period in accordance with the intended methods of disposition by the Holders thereof set forth in the Registration Statement
      as so amended or in such prospectus as so supplemented.

    

    

    (c) If during the Effectiveness Period, the number of Registrable Securities at any time exceeds 100% of the number of shares of Common Stock then
      registered in the Registration Statement, the Company shall file as soon as reasonably practicable an additional Registration Statement covering the resale of not less than the number of such Registrable Securities.

    

    

    (d) The Company shall bear and pay all costs and expenses incurred in connection with any registration, filing or qualification of Registrable
      Securities with respect to the registrations pursuant to this Agreement for each Holder, including (without limitation) all registration, filing and qualification fees, printer’s fees, accounting fees and fees and disbursements of counsel for the
      Company, but excluding any brokerage or underwriting fees, discounts and commissions relating to Registrable Securities and fees and disbursements of counsel for the Holders. The Company shall also pay for the services of one (1) counsel or advisor,
      for all Lenders, to review the Registration Statement.  The Company covenants it will provide the proposed Registration Statement to Holders and their counsel at least two (2) Business Days before filing for their review and comment.  The Company
      agrees that any such Registration Statement shall be subject to the review and reasonable comment of such counsel who shall, if requested, have a reasonable opportunity to participate in the preparation of such documents in order to facilitate the
      disposition of the Registrable Securities owned by such Holders.

    

    

    
      3

      
        

    

    (e) If at any time during the Effectiveness Period there is not an effective Registration Statement covering all of the Registrable Securities, then
      the Company shall notify each Holder in writing at least fifteen (15) days prior to the filing of any registration statement under the Securities Act, in connection with a public offering of shares of Common Stock (including, but not limited to,
      registration statements relating to secondary offerings of securities of the Company but excluding any registration statements (i) on Form S-4 or S-8 (or any successor or substantially similar form), or of any employee stock option, stock purchase or
      compensation plan or of securities issued or issuable pursuant to any such plan, or a dividend reinvestment plan, (ii) otherwise relating to any employee, benefit plan or corporate reorganization or other transactions covered by Rule 145 promulgated
      under the Securities Act, or (iii) on any registration form which does not permit secondary sales or does not include substantially the same information as would be required to be included in a Registration Statement. In the event a Holder desires to
      include in any such registration statement all or any part of the Registrable Securities held by such Holder, the Holder shall within ten (10) days after the above-described notice from the Company, so notify the Company in writing, including the
      number of such Registrable Securities such Holder wishes to include in such registration statement. If a Holder decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Company, such Holder shall
      nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Company with respect to the offering of securities, all upon the terms and
      conditions set forth herein.

    

    

    1.3 Obligations of the Company. Whenever required under this Section 1 to effect the
      registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

    

    

    (a) Prepare and file with the Commission a Registration Statement with respect to such Registrable Securities and use its best efforts to cause such
      Registration Statement to become effective and to keep such Registration Statement effective during the Effectiveness Period;

    

    

    (b) Prepare and file with the Commission such amendments and supplements to such Registration Statement and the prospectus used in connection with
      such Registration Statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by such Registration Statement;

    

    

    (c) Furnish to the Holders, at no cost or expense to the Holders, such numbers of copies of a prospectus, including a preliminary prospectus, in
      conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of the Registrable Securities owned by them (provided that the Company would not be required to
      print such prospectuses if readily available to Holders on the EDGAR filing database maintained at www.sec.gov);

    

    

    
      4

      
        

    

    (d) Use its reasonable best efforts to register and qualify the Registrable Securities covered by such Registration Statement under such other
      securities or blue sky laws of such jurisdictions as shall be reasonably requested by a Holder; provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent
      to service of process in any such states or jurisdictions;

    

    

    (e) In the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary
      form, with the managing underwriter(s) of such offering (each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement);

    

    

    (f) Promptly notify each Holder holding Registrable Securities covered by a Registration Statement at any time when a prospectus relating thereto is
      required to be delivered under the Securities Act, within one (1) Business Day, (i) of the effectiveness of such Registration Statement, or (ii) of the happening of any event as a result of which the prospectus included in such Registration
      Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing;

    

    

    (g) Cause all such Registrable Securities registered pursuant hereto to be listed on each securities exchange or nationally recognized quotation
      system on which similar securities issued by the Company are then listed;

    

    

    (h) Provide a transfer agent and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for all such Registrable
      Securities, in each case not later than the effective date of such registration;

    

    

    (i) Comply in all material respects with all applicable rules and regulations of the Commission and make generally available to its security holders
      all documents filed or required to be filed with the Commission, including, but not limited, to, earning statements satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 not later than 45 days after the end of any 12-month
      period (or 90 days after the end of any 12-month period if such period is a fiscal year) commencing on the first day of the first fiscal quarter of the Company after the effective date of the Registration Statement, which statement shall conform to
      the requirements of Rule 158;

    

    

    (j) If requested by the Holders of a majority in interest of the Registrable Securities, (i) promptly incorporate in a prospectus supplement or
      post-effective amendment to the Registration Statement such information as the Company reasonably agrees should be included therein and (ii) make all required filings of such prospectus supplement or such post-effective amendment as soon as
      practicable after the Company has received notification of the matters to be incorporated in such prospectus supplement or post-effective amendment;

    

    

    (k) Cooperate with the Holders to facilitate the timely preparation and delivery of certificates (if such securities are certificated) representing
      Registrable Securities to be sold pursuant to a Registration Statement, which certificates, to the extent permitted by the Purchase Agreement and applicable federal and state securities laws, shall be free of all restrictive legends, and to enable
      such Registrable Securities to be in such denominations and registered in such names as specified by each Holder in connection with any sale of Registrable Securities; and

    

    

    
      5

      
        

    

    (l) If the Registration Statement refers to any Holder by name or otherwise as the holder of any securities of the Company, then such Holder shall
      have the right to require (if such reference to such Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in force) the deletion of the reference to such Holder in any amendment or supplement to the
      Registration Statement filed or prepared subsequent to the time that such reference ceases to be required.

     

      

    1.4 Obligations of the Holders.

    

    

    (a) The Company may require each selling Holder to furnish to the Company a certified statement as to the number of shares of Common Stock
      beneficially owned by such Holder and the natural persons thereof that have voting and dispositive control over the Registrable Securities. During any periods that the Company is unable to meet its obligations hereunder with respect to the
      registration of the Registrable Securities solely because any Holder fails to furnish such information within five (5) Business Days of the Company’s request, any liquidated damages that are accruing at such time as to such Holder only shall be
      tolled and any Event that may otherwise occur solely because of such delay shall be suspended as to such Holder only until such information is delivered to the Company;

    

    

    (b) Each Holder covenants and agrees that it will not sell any Registrable Securities under the Registration Statement until the Company has
      electronically filed the prospectus as then amended or supplemented as contemplated in Section 1.3(b); and

     

      

    (c) Each 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 Section 1.3(f), such Holder will forthwith discontinue disposition of such Registrable Securities under the Registration Statement until such Holder’s receipt of the copies of the supplemented prospectus and/or amended
      Registration Statement contemplated by Section 1.3(j), 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.

     

      

    1.5 Permitted Postponements or Suspensions. If (i) there is material non-public
      information regarding the Company which the Company’s Board of Directors (the “Board”) determines not to be in the Company’s best interest to disclose and which the Company is not otherwise required to disclose, (ii) there is a significant business
      opportunity (including, but not limited to, the acquisition or disposition of assets (other than in the ordinary course of business) or any merger, consolidation, tender offer or other similar transaction) available to the Company which the Board
      determines not to be in the Company’s best interest to disclose, or (iii) the Company is required to file a post-effective amendment to the Registration Statement to incorporate the Company’s annual reports and audited financial statements on Forms
      10-K, then the Company may (x) postpone or suspend filing of a Registration Statement for a period not to exceed thirty (30) consecutive days or (y) postpone or suspend effectiveness of a Registration Statement for a period not to exceed thirty (30)
      consecutive days; provided that the Company may not postpone or suspend effectiveness of a Registration Statement under this Section 1.5 for more than sixty (60) days in the aggregate during any three hundred sixty (360) day period; provided further,
      that no such postponement or suspension shall be permitted for consecutive thirty (30) day periods arising out of the same set of facts, circumstances or transactions.

    

    

    
      6

      
        

    

    1.6 Furnish Information. It shall be a condition precedent to the Company’s obligations
      to take any action pursuant to this Section 1 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding such Holder, the Registrable Securities held by such Holder, and
      the intended method of disposition of such securities in the form attached to this Agreement as Annex B, or as otherwise reasonably required by the managing underwriters, if any, to effect the registration of such Holder’s Registrable Securities.

     

    1.7 Delay of Registration. No Holder shall have any right to obtain or seek an injunction
      restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 1.

     

    1.8 Indemnification.

    

    

    (a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, any underwriter (as defined in the Securities Act) for
      such Holder and each of their directors, officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other
      title), each Person who controls each Holder and underwriter (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents, members, partners or employees (and any other
      Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title) of such controlling Person and their respective heirs, personal representatives, successors and assigns, against any
      losses, claims, damages or liabilities (joint or several) to which any of the foregoing Persons may become subject under the Securities Act, the Exchange Act or other federal or state securities law, insofar as such losses, claims, damages or
      liabilities (or actions in respect thereof), as determined by a final judgment of a court of competent jurisdiction from which no appeal may be taken, arise out of or are based upon any of the following statements, omissions or violations
      (collectively, a “Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in a Registration Sstatement, including any preliminary prospectus or final
      prospectus contained therein or any amendments or supplements thereto (collectively, the “Filings”), (ii) the omission or alleged omission to state in the Filings a material fact required to
      be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company 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 state securities law, as determined by a final judgment of a court of competent jurisdiction from which no appeal may be taken; and the Company will pay any legal or other expenses reasonably incurred by
      any Person to be indemnified pursuant to this Section 1.8(a) in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 1.8(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is
      effected without the consent of the Company (which consent shall not be unreasonably withheld, conditioned or delayed), nor shall the Company be liable in any such case for any such loss, claim, damage, liability or action to the extent that it
      arises out of or is based upon a Violation that occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by any such Holder, underwriter or controlling Person.

    

    

    
      7

      
        

    

    (b) To the extent permitted by law, each Holder will indemnify and hold harmless the Company, each of its directors, each of its officers who has
      signed the Registration Statement, each Person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act, any underwriter, any other Holder selling securities in such Registration Statement and any controlling
      Person of any such underwriter or other Holder, against any losses, claims, damages or liabilities (joint or several) to which any of the foregoing Persons may become subject under the Securities Act, the Exchange Act or other federal or state
      securities law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and
      in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder will pay any legal or other expenses reasonably incurred by any Person to be indemnified pursuant to this
      Section 1.8(b) in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however,
      that the indemnity agreement contained in this Section 1.8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of such Holder (which consent shall
      not be unreasonably withheld, conditioned or delayed); provided, however, in no event shall any indemnity under this subsection
      1.8(b) exceed the net proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation.

     

    (c) Promptly after receipt by an indemnified party under this Section 1.8 of notice of the commencement of any action (including any governmental
      action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 1.8, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall
      have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by
      one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate
      due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the
      commencement of any such action, if materially prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 1.8, but the omission so to deliver written notice to
      the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 1.8.

     

    

    
      8

      
        

    

    (d) If the indemnification provided for in Sections 1.8(a) and 1.8(b) is held by a court of competent jurisdiction to be unavailable to an indemnified
      party with respect to any loss, claim, damage or expense referred to herein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result
      of such loss, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions or alleged
      statements or omissions that resulted in such loss, liability, claim or expense as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to,
      among other things, whether the untrue or alleged untrue statement of a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and
      opportunity to correct or prevent such statement or omission. In no event shall any Holder be required to contribute an amount in excess of the net proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such
      indemnification obligation.

     

    

    (e) If a claim for indemnification under Section 1.8(a) or 1.8(b) is due but unavailable to an indemnified party because of a failure or refusal of a
      governmental authority to enforce such indemnification in accordance with its terms (by reason of public policy or otherwise), then each indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or
      payable by such indemnified party as a result of such losses, in such proportion as is appropriate to reflect the relative benefits received by the indemnifying party on the one hand and the indemnified party on the other from the offering of the
      Notes and Warrants. If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits
      referred to in the foregoing sentence but also the relative fault, as applicable, of the indemnifying party and indemnified party in connection with the actions, statements or omissions that resulted in such losses as well as any other relevant
      equitable considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue statement of a material fact or omission of a
      material fact, has been taken or made by, or relates to information supplied by, such indemnifying party or indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action,
      statement or omission. The amount paid or payable by a party as a result of any losses shall be deemed to include, subject to the limitations set forth in Section 1.8(c), any reasonable attorneys’ or other reasonable fees or expenses incurred by such
      party in connection with any proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section was available to such party in accordance with its terms. In no event shall any
      selling Holder be required to contribute an amount under this Section 1.8(e) in excess of the gross proceeds received by such Holder upon sale of such Holder’s Registrable Securities pursuant to the Registration Statement giving rise to such
      contribution obligation.

     

      

    The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 1.8(e) were determined by pro rata
      allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. 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.

    

    

    
      9

      
        

    

    (f) The obligations of the Company and the Holders under this Section 1.8 shall survive the completion of any offering of Registrable Securities in a
      Registration Statement under this Section 1, and otherwise.

    

    

    (g) The indemnity and contribution agreements contained in this Section are in addition to any liability that the indemnifying parties may have to the
      indemnified parties pursuant to applicable law.

    

    

    1.9 Reports Under Exchange Act. With a view to making available the benefits of certain
      rules and regulations of the Commission, including Rule 144, that may at any time permit the Holders to sell Registrable Securities to the public without registration or pursuant to a Registration Statement, the Company agrees to:

    

    

    (a) make and keep public information available, as those terms are understood and defined in Rule 144, at all times after the Closing Date;

    

    

    (b) take such action as is necessary to enable the Holders to utilize a Registration Statement for the sale of their Registrable Securities;

    

    

    (c) file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act;
      and

    

    

                                 (d) furnish to any Holder, so long as such Holder owns any Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the
      reporting requirements of Rule 144, the Securities Act and the Exchange Act, or that it qualifies as a registrant whose securities may be resold pursuant to Form S-1 or Form S-3 (at any time after it so qualifies), (ii) a copy of the most recent
      annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the Commission that permits
      the selling of any Registrable Securities without registration or pursuant to such form. 

      

      

    

    
      10

      
        

    

    1.10 Transfer or Assignment of Registration Rights. The rights to cause the Company to
      register Registrable Securities pursuant to this Section 1 may be transferred or assigned, but only with all related obligations, by any Holder to a transferee or assignee who (a) acquires at least 25,000 shares of Common Stock or Registrable
      Securities exercisable for or convertible into 25,000 shares of Common Stock (subject to appropriate adjustment for reverse stock splits, stock splits, stock dividends and combinations) from such transferring Holder, unless waived in writing by the
      Company, or (b) holds Registrable Securities immediately prior to such transfer or assignment; provided, that in the case of (a), (i) prior to such transfer or assignment, the
      Company is furnished with written notice stating the name and address of such transferee or assignee and identifying the securities with respect to which such registration rights are being transferred or assigned and (ii) such transferee or assignee
      agrees in writing to be bound by and subject to the terms and conditions of this Agreement.

     

    1.11 Filing Obligations. The Company covenants to timely file (or obtain extensions in
      respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Section 13(a) or 15(d) of the Exchange Act. As long as any Holder owns Notes, Warrants or Registrable
      Securities, if the Company is not required to file reports pursuant to Section 13(a) or 15(d) of the Exchange Act, it will prepare and furnish to the Holders and make publicly available in accordance with Rule 144(c) promulgated under the Securities
      Act, annual and quarterly financial statements, together with a discussion and analysis of such financial statements in form and substance substantially similar to those that would otherwise be required to be included in reports required by Section
      13(a) or 15(d) of the Exchange Act, as well as any other information required thereby, in the time period that such filings would have been required to have been made under the Exchange Act. The Company further covenants that it will take such
      further action as any Holder may reasonably request, all to the extent reasonably required from time to time to enable such Person to sell the Registrable Securities without registration under the Securities Act within the limitation of the
      exemptions provided by Rule 144 promulgated under the Securities Act, including providing any legal opinions relating to such sale pursuant to Rule 144. Upon the request of any Holder, the Company shall deliver to such Holder a written certification
      of a duly authorized officer as to whether it has complied with such requirements.

    

    

    2. Miscellaneous.

    

    

    2.1 Governing Law. The parties hereby agree that any dispute which may arise between them
      arising out of or in connection with this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that
      all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective Affiliates, directors,
      officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the State of New York and County of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and
      federal courts sitting in the City of New York, borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of
      any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is
      improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or
      certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.
      Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If any party shall commence an action or proceeding to enforce any provisions of the Agreement, then the prevailing party in
      such action or proceeding shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

     

    2.2 WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION
        BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVE FOREVER TRIAL BY JURY.

    

    

    
      11

      
        

    

    2.3 Remedies. Except as otherwise provided in Section 2.6 below, in the event of a breach
      by the Company or by a Holder of any of their obligations under this Agreement, such Holder or the Company, as the case may be, 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, and each of the Company and each Holder agrees that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of
      any of the provisions of this Agreement and hereby further agrees that, in the event of any action for specific performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate.

    

    

    2.4 No Inconsistent Agreements. The Company has not entered into, and shall not enter
      into on or after the date of this Agreement, any agreement with respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. Without limiting the generality
      of the foregoing, without the written consent of the Holders of a majority of the then outstanding Registrable Securities, the Company shall not grant to any Person the right to request the Company to register any securities of the Company under the
      Securities Act unless the rights so granted are subject in all respects to the prior rights in full of the Holders set forth herein, and are not otherwise in conflict with the provisions of this Agreement.

    

    

    2.5 No Piggyback on Registrations for Other Securities. Neither the Company nor any of
      its security holders may include securities of the Company in the Registration Statement, and the Company shall not after the date hereof enter into any agreement providing such right to any of its security holders, unless the right so granted is
      subject in all respects to the prior rights in full of the Holders set forth herein, and is not otherwise in conflict with the provisions of this Agreement.

    

    

    2.6 Failure to File Registration Statement and Other Events. The Company and the Holders
      agree that the Holders will suffer damages if the Registration Statement is not filed on or prior to the Filing Date and not declared effective by the Commission on or prior to the Effectiveness Date and maintained in the manner contemplated herein
      during the Effectiveness Period or if certain other events occur. The Company and the Holders further agree that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, if (A) the Registration Statement is not
      filed on or prior to the Filing Date, or (B) the Registration Statement is not declared effective by the Commission on or prior to the Effectiveness Date, or (C) the Registration Statement is filed with and declared effective by the Commission but
      thereafter ceases to be effective as to all Registrable Securities at any time prior to the expiration of the Effectiveness Period, without being succeeded immediately by a subsequent Registration Statement filed with and declared effective by the
      Commission in accordance with Section 1.2(a) hereof (any such failure or breach being referred to as an “Event,” and for purposes of clauses (A) and (B) the date on which such Event occurs,
      or for purposes of clause (C) after more than fifteen (15) Business Days, being referred to as an “Event Date”), then the Company shall pay as liquidated damages to all Holders, pro rata
      according to their respective holdings of Registrable Securities, (i) a one-time aggregate amount of $250,000 pro rata according to their respective holdings of Registrable Securities,  in cash, plus (ii) for each thirty (30) day period after such
      Event Date during which such Event continues, an aggregate amount of cash equal to one percent (1%) of the aggregate principal amount then outstanding under the Notes up to a total of 5%; provided, that no liquidated damages shall be payable with
      respect to Registrable Securities that may be sold pursuant to Rule 144. Liquidated damages payable by the Company pursuant to Section 2.6(i) shall be payable on the first Business Day following the Event Date, and liquidated damages payable by the
      Company pursuant to Section 2.6(ii) shall be payable on the thirtieth (30th) day (or, if such day is not a Business Day, then on the first Business day following)
      following the Event Date, and on each 30th day thereafter, until such Event is cured. The foregoing liquidated damages shall be each Holder’s sole and exclusive remedy
      in respect of any Event. Notwithstanding anything to the contrary in this Section 2.6, if (a) any of the Events described in clauses (A), (B), or (C) shall have occurred, (b) on or prior to the applicable Event Date, the Company shall have exercised
      its rights under Section 1.5 hereof and (c) the postponement or suspension permitted pursuant to such Section 1.5 shall remain effective as of such applicable Event Date, then the applicable Event Date shall be deemed instead to occur on the second
      Business Day following the termination of such postponement or suspension.

    

    

    
      12

      
        

    

    2.7 Waivers and Amendments. This Agreement may be terminated and any term of this
      Agreement may be amended or waived (either generally or in a particular instance and either retroactively or prospectively) with the written consent of the Company and Holders holding at least a majority of the Registrable Securities then
      outstanding. No such amendment or waiver shall reduce the aforesaid percentage of the Registrable Securities, the Holders of which are required to consent to any termination, amendment or waiver without the consent of the Holders of all of the
      Registrable Securities. Any termination, amendment or waiver effected in accordance with this Section 2.7 shall be binding upon each Holder of Registrable Securities then outstanding, each future Holder of all such Registrable Securities and the
      Company.

    

    

    2.8 Successors and Assigns. Except as otherwise expressly provided herein, the provisions
      of this Agreement shall inure to the benefit of, and be binding upon, the successors, permitted assigns, heirs, executors and administrators of the parties hereto. This agreement may not be assigned by the Company without the consent of Holders
      holding at least a majority of all then-outstanding Registrable Securities.

    

    

    2.9 Entire Agreement. This Agreement constitutes the full and entire understanding and
      agreement among the parties with regard to the subject matter hereof, and no party shall be liable or bound to any other party in any manner by any warranties, representations or covenants except as specifically set forth herein.

    

    

    2.10 Notices. All notices and other communications required or permitted under this
      Agreement shall be in writing and shall be delivered personally by hand or by overnight courier, mailed by United States first-class mail, postage prepaid, sent by facsimile or sent by electronic mail directed (a) if to a Holder, at such Holder’s
      address, facsimile number or electronic mail address set forth in the Company’s records, or at such other address, facsimile number or electronic mail address as such Holder may designate by ten (10) days’ advance written notice to the other parties
      hereto or (b) if to the Company, to its address, facsimile number or electronic mail address set forth on its signature page to this Agreement and directed to the attention of its Chief Executive Officer, or at such other address, facsimile number or
      electronic mail address as the Company may designate by ten (10) days’ advance written notice to the other parties hereto. All such notices and other communications shall be effective or deemed given upon delivery, on the date that is three (3) days
      following the date of mailing, upon confirmation of facsimile transfer or upon confirmation of electronic mail delivery.

    

    

    
      13

      
        

    

    

    

    2.11 Interpretation. The words “include,” “includes” and “including” when used herein
      shall be deemed in each case to be followed by the words “without limitation.” The titles and subtitles used in this Agreement are used for convenience only and are not considered in construing or interpreting this Agreement.

     

    2.12 Severability. If one or more provisions of this Agreement are held to be
      unenforceable under applicable law, such provision shall be excluded from this Agreement, and the balance of the Agreement shall be interpreted as if such provision were so excluded, and shall be enforceable in accordance with its terms.

    

    

    2.13 Counterparts. This Agreement may be executed in any number of counterparts, each of
      which shall be an original, but all of which together shall constitute one instrument.

    

    

    2.14 Cumulative Remedies. The remedies provided herein are cumulative and not exclusive
      of any remedies provided by law.

    

    

    2.15 Shares Held by the Company and its Affiliates. Whenever the consent or approval of
      Holders of a specified percentage of Registrable Securities is required hereunder, Registrable Securities held by the Company or its Affiliates (other than any Holder or transferees or successors or assigns thereof if such Holder is deemed to be an
      Affiliate solely by reason of its holdings of such Registrable Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage.

    

    

    2.16 Telecopy Execution and Delivery. A facsimile, telecopy or other reproduction of this
      Agreement may be executed by one or more parties hereto, and an executed copy of this Agreement may be delivered by one or more parties hereto by facsimile or similar electronic transmission device pursuant to which the signature of or on behalf of
      such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute an original of this Agreement as well as any facsimile,
      telecopy or other reproduction hereof.

     

    

    [SIGNATURE PAGE FOLLOWS]

    

    

    
      14

      
        

    

    IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized officers, as of the date, month and year first set forth above.

     

    Company:

    

    

    SANUWAVE HEALTH, INC.

    

    

    	
            By:

          	 	 
	
            Name:

          	
            Kevin A. Richardson II

          	 
	
            Title:

          	
            CEO

          	 

    

    

    Address for notice:

    11495 Valley View Road

    Eden Prairie, MN 55344

    Attn:  Kevin A. Richardson II

    Email: kevin.richardson@sanuwave.com

     

    

    
      [Signature Page to Registration Rights Agreement]

       

      

    

    
      
        

    

    

    

    IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized officers, as of the date, month and year first set forth above.

    

    

    Lender:

     

      

    
      

    

    	
            By:

          	 	 
	
            Name:

          	 	 
	
            Title:

          	 	 

    

    

    Address for notice:

             

    

    
      

       

      

      
        

        
           

          

          [Signature Page to Registration Rights Agreement]Exhibit 10.5

      

    
        

      

      Leviston Resources LLC 78 SW 7th St

      Miami, Florida 33130

      

      

      	
              Sanuwave Health Inc.

            	
              August 5, 2022

            
	
              11495 Valley View Road Eden Prairie, MN 55344

            	 
	
              Attention: Kevin A. Richardson II

            	 

      

      

      Re:          Securities Purchase Agreement/Future Advance Convertible Promissory Note

      

      

      Mr. Richardson:

      

      

      We refer to that certain Securities Purchase Agreement, dated as of April 20, 2021 (as amended, restated, amended
        and restated, supplemented or otherwise modified from time to time, the “SPA”), made by and between (i) Sanuwave Health, Inc., a corporation incorporated under the laws of the
        State of Nevada (the “Company”), and (ii) Leviston Resources, LLC, a limited liability company organized and existing under the laws of the State of Delaware, as the sole initial
        purchaser thereunder (the “Purchaser”), pursuant to which (A) the Purchaser agreed to purchase that certain Future Advance Convertible Promissory Note dated as of April 20, 2021
        (as amended by that certain letter agreement, dated as of May 14, 2021, and as further amended, supplemented or restated from time to time, the “Note”) from the Company, in an
        aggregate principal amount of up to Four Million Two Hundred Seventeen Thousand Two Hundred Seventeen and no/100 United States Dollars (US$4,217,217.00), and (B) the Purchaser was issued that certain warrant to purchase 16,666,667 shares of the
        Company’s Common Stock (the “Warrant”). All amounts owing as of the date hereof under the SPA and the Note shall be referred to herein as of the “Indebtedness”). All capitalized terms used in this letter agreement shall have the same meaning ascribed to them in the SPA, except as otherwise specifically set forth herein.

      

      

      As discussed, upon the Release Date (as defined below) the Indebtedness shall have been automatically satisfied in
        full and irrevocably discharged, terminated and released, all obligations and covenants under the Transaction Documents shall be automatically terminated, and the liens and security interests of the Purchaser in any and all of the property of the
        Company and any guarantors of the Indebtedness shall be automatically discharged, released and terminated, including without limitation, any liens and security interests evidenced by Uniform Commercial Code financing statements and fixture filings,
        real property mortgages and deeds of trust, and intellectual property security recordations in the United States Patent and Trademark Office or the United States Copyright Office and the Purchaser shall surrender the Warrant to the Company.
        Notwithstanding anything contained in this letter to the contrary, to the extent that any provisions of the Transaction Documents survive repayment per the terms thereof, such terms shall survive repayment, which for the avoidance of doubt shall
        include the indemnification provisions set forth in Section 4.11 of the SPA.

      

      

      For purposes of this letter the “Release Date” shall mean the date upon which (A) the Purchaser shall have
        received, (i) 16,666,667 shares of Common Stock of the Company (the “Exchange Shares”) in exchange for the Warrant, and (ii) payment by wire transfer of $3,205,715 (the “Payoff Amount”) in cash or in immediately available funds, to the following account:

         

      

      
        
          

      

      Routing number:

       

      Swift Code:

       

      Acct #

       

      and (B) the Exchange Shares have been deposited with the Purchaser’s broker.

      

      

      Upon the Release Date, the Purchaser shall, at the Company’s sole cost and expense:

      

      

      (i)          authorize (without any further action required by the Purchaser) the Company or its agents, attorneys or designees to file termination statements, mortgage releases and other releases (including, without limitation, on Form UCC-3,
            intellectual property releases and landlord waiver releases) with all filing offices reasonably necessary or desirable to effect the purposes of this letter agreement;

      

      

      (ii)          deliver to the Company or its agents, attorneys or designees all instruments evidencing pledged debt and all original stock or equity certificates, stock or equity powers and/or similar possessory collateral (if any); and

       

      (iii)          execute and/or deliver to the Company or its agents, attorneys or designees (to the extent necessary) such other agreements, release, terminations and other documents, filings, recordings and instruments as necessary in order to
            evidence the termination of the liens and security interests granted pursuant to the SPA and the other related documents and take such other action from time to time as necessary to effect the purposes of this letter agreement, including any
            appropriate documents to terminate any and all intellectual property security agreements that have been filed with the United States Patent and Trademark Office and/or the United States Copyright Office or similar offices of other
            jurisdictions, in order to evidence the termination of the liens and security interests, as well as any deposit account control agreement terminations, mortgage releases, and all other instruments, releases and documents evidencing the release
            of the Purchaser’s security interests and other liens.

       

      If the Company fails to deliver the Exchange Shares or pay the Payoff Amount by August 8, 2022, the Purchaser may
        in its sole discretion, agree to accept in satisfaction of the Indebtedness, the Exchange Shares and an amount equal to the then Payoff Amount multiplied by 1.02, for every week that the Company fails to make such payment and deliver the Exchange
        Shares. Notwithstanding the foregoing, if the Company fails to make such payment or deliver the Exchange Shares on or by August 8, 2022, either such failure shall constitute an Event of Default, and the Purchaser shall have been deemed to have
        delivered an Event of Default Redemption Notice as of such date without any further action on behalf of the Purchaser. The Company agrees to file a Form 8-K by the earlier of (i) 4 days from the date hereof or (ii) twenty-four hours of the Release
        Date, disclosing the transactions set forth herein and any related financing.

      

      

      The Company shall cause to be filed with the Securities Exchange Commission (the “SEC”) no later than sixty (60)
        days after the date of this letter, a registration statement on Form S-1 for the resale of the Exchange Shares, and shall use its best efforts to have the Form S-1 declared effective by the SEC as soon as possible thereafter.

       

      
        
          

      

      As a condition precedent to the effectiveness of this letter agreement, the Company agrees to deliver a copy of
        resolutions of the Board of the Company authorizing the execution of this letter agreement.

      

      

      As of the date hereof, the Company hereby acknowledges that: (i) the Purchaser has acted in good faith and has
        fulfilled and fully performed all of its obligations under or in connection with the SPA, the Note and the other Transaction Documents; and (ii) that there are no other promises, obligations, understandings or agreements with respect to the SPA,
        the Note and the other Transaction Documents, except as expressly set forth herein.

       

      New York law governs this letter agreement without regard to principles of conflicts of law. The Company and the
        Purchaser each submit to the exclusive jurisdiction of the State and Federal courts in New York County, City of New York, New York. The Company and the Purchaser each expressly submits and consents in advance to such jurisdiction in any action or
        suit commenced in any such court, and the Company and the Purchaser each hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such
        legal or equitable relief as is deemed appropriate by such court.

      

      

      This letter agreement and the SPA, the Note and the other Transaction Documents and the documents executed in
        connection therewith, contain the entire understanding between and among the parties and supersedes any prior understandings and agreements among them respecting the subject matter of this letter agreement. This letter agreement may be executed in
        any number of counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument. The parties hereby consent and agree that if this letter agreement shall at any time be deemed by the parties for
        any reason insufficient, in whole or in part, to carry out the true intent and spirit hereof or thereof, the parties will execute or cause to be executed such other and further assurances and documents as in the reasonable opinion of the parties
        may be reasonably required in order more effectively to accomplish the purposes of this letter agreement. In case any provision of this letter agreement shall be held to be invalid, illegal or unenforceable, such provision shall be severable from
        the rest of this letter agreement, and the validity legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

       

      Please indicate your agreement with and acceptance of the terms of this letter agreement by signing in the space
        provided and returning this letter agreement to our attention at the address above.

       

      

      

      [ - signature page follows - ]

      
        
          

      

      	 	
              Very truly yours,

            
	 	 
	 	
              LEVISTON RESOURCES LLC

            
	 	 
	 	
              By: /s/ R. Rogol

            
	 	
              Name: R. Rogol

            
	 	
              Title: CFO

            

      

      

      

      

      	
              ACCEPTED AND AGREED:

            
	 
	
              SANUWAVE HEALTH, INC.

            
	 
	
              By: /s/ Kevin A. Richardson II

            
	
              Name: Kevin A. Richardson II

            
	
              Title: Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00347-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00347-of-00352.parquet"}]]