Document:

Subordinated Note

 Exhibit 10.21 
 THE SECURITIES REPRESENTED BY THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER ANY APPLICABLE STATE SECURITIES LAWS. THE SECURITIES
HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF A CURRENT AND EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND ALL APPLICABLE STATE SECURITIES LAWS WITH RESPECT TO SUCH
SECURITIES, OR AN OPINION SATISFACTORY TO THE ISSUER AND ITS COUNSEL TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT AND ALL APPLICABLE STATE SECURITIES LAWS. 

AUTOGENOMICS, INC. 
 8 1/2% SUBORDINATED NOTE 
  

			
	201211-001	  	Vista, California
	$312,671.23	  	November     , 2012

 FOR VALUE RECEIVED, AutoGenomics, Inc., a Delaware corporation (the “Company”),
hereby promises to pay to the order of Argus Reinsurance, Ltd or registered assigns (“Holder”), the principal amount of $312,671.23, together with interest thereon at the rate of Eight and One-Half percent (8 1/2%) per annum based on a 365-day year and the number of days elapsed, on or before November     , 2015 (the “Maturity Date”), subject to the terms and
conditions set forth below. This
8 1/2% Subordinated Note (this “Subordinated Note”) has been issued in exchange for an outstanding subordinated note of the Company (an “Old Note”) pursuant to the
Exchange Offer (the “Exchange Offer”) described in the letter to holders (the “Exchange Offer Letter”) dated October 9, 2012 and related Exchange Offer documents and supplements and amendments thereto,
including the Exchange Offer documents originally delivered with the letter dated August 29, 2012 (the “Exchange Offer Commencement Date”). 

This Subordinated Note is one of the Definitive Documents, as defined in the Exchange Offer Letter. This Subordinated
Note is one of a series of
8 1/2% Subordinated Notes due 2015 issued in the Exchange Offer (collectively referred to in the Exchange Offer Letter as the “New Notes,” and collectively referred to herein as the
“Subordinated Notes”), all of like tenor, except as to the identifying number, principal amount, and holder thereof, and, in the case of any Subordinated Note issued after the Original Issue Date, the issue date. 

1. Defined Terms. 
 “Affiliate” means, with regard to any Person, (i) any Person, directly or indirectly, controlled by, under common control with, or controlling such Person, (ii) any Person,
directly or indirectly, in which such Person holds, of record or beneficially, five percent (5.0%) or more of the equity or voting securities, (iii) any Person that holds, of record or beneficially, five percent (5.0%) or more of the
equity or voting securities of such Person, (iv) any Person that, through contract, relationship or otherwise, exerts a substantial influence on the management of such Person’s affairs, (v) any director, officer, partner or individual
holding a similar position in respect of such Person, or (vi) as to any natural Person, any Person related by blood, marriage or adoption and any Person owned by such Persons. 

 “Appropriate Reserves” means reserves for operating expenses and scheduled
or required payments on Indebtedness (including payments for past-due rent constituting Existing Senior Indebtedness) for the immediately following fiscal quarter determined in good faith by the Company based on the applicable annual budget for the
Company (commencing with the annual budget for 2013) and in any event not to exceed, without the consent of the holders of at least a majority in principal amount of the Subordinated Notes, the annual budget for such items by more than ten percent
in the aggregate in any fiscal quarter or more than twenty percent in the aggregate in any fiscal year. 
 “Business
Day” means any day other than a Saturday, Sunday or federal holiday. 
 “Collateral” means
(i) the Company’s accounts receivable, including proceeds thereof, and (ii) any other assets of the Company or any Subsidiary with respect to which the Company or any Subsidiary at any time grants a Lien to secure any Secured
Indebtedness. 
 “Company Party” means Company and any Subsidiary of Company. 

“Distributable Cash” means, as at the end of any fiscal quarter of the Company, available cash of the Company and its
Subsidiaries after (i) payment or accrual of operating expenses (including tax liabilities) and all scheduled or required payments on Senior Indebtedness (including payments of past-due rent included in Existing Senior Indebtedness) for that
fiscal quarter just ending and (ii) establishing Appropriate Reserves for the immediately following fiscal quarter. 

“Existing Indebtedness” means the Existing Senior Indebtedness, the Old Notes, the Subordinated Notes, and other
obligations of the Company incurred prior to the Exchange Offer Commencement Date and outstanding on the Original Issue Date. 

“Existing Senior Indebtedness” means, collectively, (i) the Tregale Senior Debt, of which $2,298,259 is
outstanding as of the Original Issue Date and (ii) past-due rent in an amount equal to $997,668 on the Original Issue Date payable to PCCP DJ ORTHO, LLC, a Delaware limited liability company (“Landlord”) under the Standard
Industrial/Commercial Single-Tenant Lease —Net dated February 12, 2009, by and between the Company and Landlord, as amended from time to time. 
 “Indebtedness” means: 
 (i) all indebtedness of the Company or
any Subsidiary for monies borrowed from banks, trust companies, insurance companies and other financial institutions, including commercial paper, letters of credit and accounts receivable sold or assigned by the Company or any Subsidiary to such
institutions; 

  
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 (ii) all indebtedness of the Company or any Subsidiary for monies borrowed by the Company
or any Subsidiary from other persons or entities (excluding accrued expenses, trade payables, workers’ compensation claims, self-insurance obligations, bankers’ acceptances, performance, hedging obligations and surety bonds in the ordinary
course of business); 
 (iii) any due or past-due obligations of the Company as lessee under leases of real or personal
property; 
 (iv) indebtedness or obligations of others of the kinds described above assumed or guaranteed in any manner by the
Company or any Subsidiary; 
 (v) deferrals, renewals, extensions and refundings of any such indebtedness or obligations
described above; 
 (vi) any balance deferred and unpaid of the purchase price of any property or services due more than six
months after such property is acquired by, or such services are completed for, the Company or any Subsidiary; and 
 (vii) any
other indebtedness of the Company or any Subsidiary which the Company and the holders of more than 50% of the unpaid principal amount of the Subordinated Notes then outstanding may hereafter from time to time expressly and specifically agree in
writing shall constitute Indebtedness; 
 if and to the extent any of the preceding items (other than letters of credit and hedging obligations)
would appear as a liability upon a balance sheet of the Company or any Subsidiary prepared in accordance with generally accepted accounting principles, whether or not contingent. In addition, the term “Indebtedness” includes all
Indebtedness of others secured by a Lien on any asset of the Company or any Subsidiary (whether or not such Indebtedness is assumed by the Company or any Subsidiary). 
 “Intercreditor Agreement” means any Intercreditor Agreement among the Subordinated Notes Representative and holders of the Company’s Secured Indebtedness, and acknowledged by the
Company, as amended, modified, supplemented or amended and restated from time to time. 
 “Lien” means with
respect to any assets, any mortgage, lien, pledge, charge, security interest or other similar encumbrance (including, without limitation, any conditional sale or other title retention agreement or lease in the nature thereof, any option or other
agreement to sell, and any filing of or agreement to give, any security interest). 
 “Note Documents” means
the Subordinated Notes, the Second Lien Security Agreement, any other collateral agreement to which the Company and the Subordinated Notes Representative are a party with respect to the Subordinated Notes, and any Intercreditor Agreement.

 “Old Notes” means any subordinated promissory notes of the Company outstanding as of the Exchange Offer
Commencement Date that are not exchanged in the Exchange Offer and remain outstanding thereafter. 

  
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 “Original Issue Date” means November     , 2012.

 “Pari Passu Subordinated Notes” means the Subordinated Notes and all other Indebtedness of the Company
represented by subordinated promissory notes ranking pari passu with and equal in right of payment to the Subordinated Notes (including any Old Notes). 
 “Person” means any corporation, partnership, joint venture, limited liability company, organization, entity, governmental authority, body or agency, or natural person. 

“Requisite Holders” means the Holders of at least a majority in outstanding principal amount of the Subordinated Notes.

 “Second Lien Security Agreement” means the Second Lien Security Agreement dated as of the Original Issue
Date, by and between the Company and the Subordinated Notes Representative, as amended, modified, supplemented or amended and restated from time to time. 
 “Secured Indebtedness” means any Indebtedness secured by a Lien on any asset or property of the Company or any Subsidiary (other than Indebtedness with respect to (i) any capitalized
lease or (ii) the deferred and unpaid purchase price of any asset). 
 “Senior Indebtedness” means any
(i) any Existing Senior Indebtedness, (ii) Indebtedness of the Company designated by the Company as ranking senior to the Subordinated Notes and (iii) any other indebtedness of the Company which the Company and the holders of more
than 50% of the unpaid principal amount of the Subordinated Notes then outstanding may hereafter from time to time expressly and specifically agree in writing shall constitute Senior Indebtedness. The Company agrees to provide to the Holder, if
requested, the names of the holders of all Senior Indebtedness in writing, and to provide the Holder, if requested, with copies of all agreements related to any such Senior Indebtedness. Notwithstanding the foregoing, “Senior Indebtedness”
shall not include (x) any other Indebtedness of the Company designated as subordinated indebtedness (including any Pari Passu Subordinated Notes), or (y) any Indebtedness of the Company or any Subsidiary owed to any Affiliate of the
Company or any Subsidiary. 
 “Subordinated Notes Representative” means initially, Citibank, N.A., acting
through its Citibank Agency & Trust division, as collateral agent for the holders of the Subordinated Notes, and any successor or sub-agent appointed as set forth on Annex 1 hereto. 

“Subsidiary” means, with respect to any specified Person, any other Person, other than a natural Person, (i) of
which more than 50.0% of the voting stock or other equity interests (in the case of other Persons that are not corporations) is owned or controlled, directly or indirectly, by such specified Person or one or more Affiliates of such specified Person
or (ii) the management of which is controlled, directly or indirectly, by contract or otherwise, by such specified Person or one or more Affiliates of such specified Person. Unless otherwise specified herein or the context otherwise requires,
“Subsidiary” shall mean a Subsidiary of the Company. 

  
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 “Tregale” means Tregale Group Ltd., together with its successors and
assigns. 
 “Tregale Senior Debt” means all Indebtedness of the Company arising under the Unsecured Senior
Promissory Note dated August 8, 2011 as in effect on the Original Issue Date, made by the Company in favor of Tregale. 

2. Subordination. 
 (a) Subordination to Senior Indebtedness. The Indebtedness evidenced by this Subordinated Note, and the payment of the principal hereof and interest hereon, (i) is wholly subordinated, junior
and subject in right of payment, to the extent and in the manner provided herein and in any Intercreditor Agreement, to the prior payment of all Senior Indebtedness permitted under this Subordinated Note and (ii) ranks pari passu in right of
payment to all other Pari Passu Subordinated Notes. The second Liens to be granted by the Company to the holders of the Subordinated Notes pursuant to the Second Lien Security Agreement will be subordinated to the first Liens securing the Secured
Indebtedness to the extent and in the manner provided in the Intercreditor Agreement. 
 (b) Rights of Holders
Unimpaired. The provisions of this Section 2 are, and are intended solely, for the purposes of defining the relative rights of the holders of the Subordinated Notes and the holders of Senior Indebtedness and nothing in this Section 2
shall impair, as between the Company and any holders of the Subordinated Notes, the obligation of the Company, which is unconditional and absolute, to pay to the holders of the Subordinated Notes the principal thereof and interest thereon, in
accordance with the terms of the Subordinated Notes, nor shall anything herein prevent any holders of the Subordinated Notes from exercising all remedies otherwise permitted by applicable law or hereunder upon default, subject to the rights set
forth above of holders of Senior Indebtedness to receive cash, property or securities otherwise payable or deliverable to the holders of the Subordinated Notes, and subject to the provisions of Section 7(b) hereof and of any Intercreditor
Agreement with respect to rights against Collateral. 
 3. Repayment of the Subordinated Notes. 

(a) Repayment at the Maturity Date. On the Maturity Date, the Company shall repay all, but not less than all, of the then
outstanding principal amount of the Subordinated Notes, and all accrued and unpaid interest thereon, by mailing a corporate check in such amount payable to the Holder at the Holder’s address of record as contained herein, or on file with the
Company pursuant to notice given as provided herein, no later than ten (10) business days after the Maturity Date or, at the request of the Holder, by wire transfer of immediately available funds designated in writing by the Holder. 

(b) Repayment from Distributable Cash. Within 30 days after the end of each fiscal quarter of the Company, commencing with the
quarter ending March 31, 2013, the Company shall make a calculation of Distributable Cash for such fiscal quarter, which calculation shall be promptly mailed or sent by email to each holder. No later than five Business Days after the amount of
Distributable Cash has been determined, the Company shall distribute to each holder of Subordinated Notes such holder’s pro rata share of 80% of Distributable Cash in respect of such fiscal quarter by mailing a corporate check in such amount
payable to each holder at the holder’s address of record (or sent by wire transfer to those holders who provide wire transfer instructions at least one week before the scheduled payment date). 

  
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 (c) Repayment from Proceeds of IPO. Upon consummation of an initial public offering
of the common stock of the Company, the Company shall use 50% of the net cash proceeds (net of actual transaction expenses, other than taxes) received by the Company to repay Existing Indebtedness in the order of priority set forth in
Section 4(a)(1). 
 (d) Optional Redemption Prior to the Maturity Date. The Company may redeem this Subordinated
Note in whole or in part, at any time or from time to time, without penalty, at a redemption price equal to 100% of the principal amount of this Subordinated Note, together with all accrued and unpaid interest thereon through the redemption date,
provided that such redemption is on a pro rata basis with all other Subordinated Notes then outstanding (determined based on the aggregate principal amount of all Subordinated Notes then outstanding as of such redemption date). 

(e) Cancellation of Subordinated Note. Immediately upon repayment in full of this Subordinated Note, including all principal,
accrued interest, redemption price, as applicable, and any amounts owed pursuant to Section 10(e) hereof, this Subordinated Note shall no longer be deemed to be outstanding and all rights with respect to this Subordinated Note shall immediately
cease and terminate as of the date of such repayment. 
 4. Covenants of the Company. 

(a) Incurrence of Additional Indebtedness. The Company shall not, and shall not permit any Subsidiary to, incur any Indebtedness
after the Original Issue Date that is not expressly subordinated in right of payment to the Subordinated Notes without the prior written consent of holders representing 75% of the aggregate principal amount of all then outstanding Subordinated
Notes; provided, however, that without the consent of any of the holders of the Subordinated Notes, the Company may incur Indebtedness as follows: 
 (1) any Indebtedness; provided that at least 50% of the proceeds (net of actual transaction expenses (excluding any amount for taxes)) of any such Indebtedness are used to repay and retire Existing
Indebtedness in the following order of priority: first, any Existing Senior Indebtedness then outstanding until all Existing Senior Indebtedness has been paid in full; second, any Subordinated Notes and Old Notes then outstanding (on a pro rata
basis based upon the principal amount of Subordinated Notes and Old Notes then outstanding) until all of the Subordinated Notes and Old Notes have been paid in full; and third, any other obligations of the Company incurred by the Company prior to
the Exchange Offer Commencement Date and outstanding on the Original Issue Date; 
 (2) any Existing Senior Indebtedness may be
refinanced, and any Indebtedness existing on the Original Issue Date that has already been refinanced under Section 4(a)(1) may be subsequently refinanced, in each case, so long as the principal amount thereof is not increased (except such
refinanced Indebtedness may be increased by an amount equal to the actual transaction expenses of such refinancing (excluding any amount for taxes)); and 

  
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 (3) Indebtedness in an outstanding amount not to exceed in the aggregate $100,000
consisting exclusively of (i) capitalized lease obligations and (ii) the deferred and unpaid purchase price of any asset). 
 For avoidance of doubt, the Company may incur Indebtedness that is permitted in part under clause (1) and subject to the criteria of clause (1), to refinance Indebtedness existing on the Original
Issue Date, and in part under clause (2) and subject to the criteria of clause (2), to refinance previously refinanced Indebtedness. 
 (b) Reports. Until the Company becomes subject to the reporting requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, at the request of the Holder, the Company agrees
to furnish to the Holder the following financial statements and other information: 
 (1) as soon as available, copies of the
unaudited consolidated balance sheets of the Company and its subsidiaries as of the end of the first three quarterly accounting periods during the fiscal year of the Company in which the Holder makes such request, and of the related consolidated
statements of income and retained earnings and cash flows for such accounting periods; 
 (2) as soon as available after the
end of each fiscal year of the Company, copies of the audited consolidated balance sheets of the Company and its subsidiaries as of the end of such fiscal year, and of the related audited consolidated statements of income and retained earnings and
cash flows for such fiscal year accompanied by a report thereon from independent certified public accountants selected by the Company; provided that the Company shall not be required to deliver audited financial statements if not otherwise required
in connection with its financing agreements. 
 (c) Subordinated Second Lien. The Company shall take such actions as
shall be necessary to grant and maintain for the benefit of the holders of the Subordinated Notes, a subordinated, perfected Lien on all Collateral, which Lien is second in priority solely to any Senior Indebtedness that is Secured Indebtedness and
to any Liens that have priority solely by operation of law. 
 (d) Distributions. No distributions (other than dividends
paid solely in shares of capital stock of the Company) will be made on account of the Company’s capital stock until the Subordinated Notes are paid in full. 
 (e) Employee Compensation. No increase to any current C-level salary for employees of the Company shall increase any such salary (i) by a percentage that is more than the percentage increase
in year-to-date revenues on the date of the increase over the prior year’s revenues for the same period, or (ii) to exceed its 2008 level. 

  
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 (f) Terms No More Favorable. If any of the other subordinated indebtedness issued by
the Company after the Original Issue Date (including any Pari Passu Subordinated Notes) contain terms more favorable to the holder of such subordinated indebtedness than those contained in this Subordinated Note (such subordinated indebtedness, the
“More Favorable Terms Note”), the Company shall promptly (but not less than 5 days after the issuance of such More Favorable Terms Note) offer to exchange for this Subordinated Note a new Subordinated Note which shall have the same
terms as this Subordinated Note plus the more favorable terms of the More Favorable Terms Note. 
 5. Requirements for
Transfer. This Subordinated Note shall not be sold or transferred unless either (i) this Subordinated Note shall have been registered or qualified under the Securities Act of 1933, as amended (the “Act”), and all applicable
state securities laws with respect thereto or (ii) the Company first shall have been furnished with an opinion of legal counsel, reasonably satisfactory to the Company, to the effect that such sale or transfer is exempt from the registration or
qualification requirements of the Act and all applicable state securities laws with respect thereto. 
 6. Payment of
Principal. All payments due and payable from the Company to Holder under this Subordinated Note shall be made in lawful currency of the United States of America. In no event shall any prepayment of principal be made with respect to any other
subordinated indebtedness of the Company (including any Pari Passu Subordinated Note) unless and until the Company shall have concurrently prepaid a like proportionate amount of the principal of this Subordinated Note. All repayments and prepayments
under this Subordinated Note shall be applied first to accrued and unpaid interest and then to the outstanding principal balance hereof. 
 7. Default and Remedies. 
 (a) Default. Upon the occurrence of an
Event of Default (as defined below), the entire unpaid portion of the principal amount of this Subordinated Note, and all accrued and unpaid interest due Holder hereunder, shall automatically become due and payable. As used in this Subordinated
Note, “Event of Default” shall mean: (i) a receiver, trustee, custodian or similar officer is appointed for the Company, or for any substantial part of its property and such appointment or proceedings remain unstayed or undismissed
for a period of 90 days, (ii) any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proceedings under the laws of any jurisdiction is instituted (by petition, application or
otherwise) against the Company and such appointment or proceedings remain unstayed or undismissed for a period of 90 days, (iii) the Company admits in writing its inability to pay its debts when due, (iv) the Company makes an assignment
for the benefit of creditors, (v) the Company applies for or consents to the appointment of any receiver, trustee, custodian or similar officer for the Company or for any substantial part of its property, (vi) the Company institutes (by
petition, application or otherwise) or consents to any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proceedings under the laws of any jurisdiction against the Company, (vii) any
Indebtedness of the Company in excess of $1,000,000 is accelerated prior to its scheduled maturity date, (viii) the Company fails to make any principal or interest payment under this Subordinated Note when due and, other than at scheduled
maturity, such breach remains uncured for 10 days following written notice from any holder of Subordinated Notes, and (ix) the Company breaches any of its other obligations hereunder or as set forth in the Agreement and such breach remains
uncured for thirty days following written notice from any holder of Subordinated Notes. 

  
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 (b) Remedies. Notwithstanding any other provision of this Subordinated Note or any
other Note Documents, the Holder shall not exercise any rights or remedies of a secured creditor with respect to any Collateral unless (i) a payment default has occurred and has continued for more than 30 days after receipt by the Company of
written notice thereof and (ii) such exercise is permitted by the terms of any applicable Intercreditor Agreement. 
 8.
Replacement. Whenever this Subordinated Note shall be surrendered at the principal executive office of the Company for transfer or exchange, accompanied by a written instrument of transfer in form reasonably satisfactory to the Company duly
executed by the Holder hereof or his, her or its attorney duly authorized in writing, the Company shall execute and deliver in exchange therefor a new Note or Notes, as may be requested by the Holder, in the same aggregate unpaid principal amount
and payable on the same date as the principal amount of the Note or Notes so surrendered; each such new Note shall be in such principal amount and registered in such name or names as the Holder may designate in writing. Upon receipt by the Company
of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Subordinated Note and of indemnity reasonably satisfactory to it, and upon reimbursement to the Company of all reasonable expenses incidental thereto,
and upon surrender and cancellation of this Subordinated Note (in case of mutilation) the Company will make and deliver in lieu of this Subordinated Note a new Subordinated Note of like tenor and unpaid principal amount. 

9. The Subordinated Notes Representative. By his, her or its acceptance of this Subordinated Note, the Holder, by acceptance of
his, her or its Subordinated Note, agrees to the appointment of the Subordinated Notes Representative, on the terms and conditions set forth on Annex 1 hereto. By its signature below, the Company agrees to the appointment of the Subordinated
Notes Representative, on the terms and conditions set forth on Annex 1 hereto. 
 10. General. 

(a) Successors and Assigns. This Subordinated Note, and the obligations and rights of the Company hereunder, shall be binding
upon and inure to the benefit of the Company, the Holder of this Subordinated Note, and their respective heirs, successors and assigns. 
 (b) Notices. All notices, requests, consents and demands shall be made in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when
sent by confirmed telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid,
or (d) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company at 2980 Scott Street, Vista, CA 92801, Attention:
Chief Financial Officer, and to the Holder at the address set forth on the Holder’s letter of transmittal delivered in the Exchange Offer, or at such other address as the Company or the Holder may designate by ten (10) days advance written
notice to the other parties hereto. 

  
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 (c) Governing Law. This Subordinated Note shall be construed and enforced in
accordance with, and the rights of the parties shall be governed by, the laws of the State of New York, without regard to its principles of choice of law. 
 (d) Waiver and Amendment. No delay or omission on the part of the Holder in exercising any right under this Subordinated Note shall operate as a waiver of such right or of any other right of such
Holder, nor shall any delay, omission or waiver on any one occasion be deemed a bar to or waiver of the same or any other right on any future occasion. The Company hereby waives presentment, notice of dishonor, protest and notice of protest with
respect to this Subordinated Note. 
 This Subordinated Note may only be amended or modified by a written agreement signed by the Company and
Holder. Annex 1 hereto may only be amended or modified by a written agreement signed by the Subordinated Notes Agent, the Company and Holder. 
 (e) Costs of Collection. The Company agrees to pay on demand all costs of collection, including reasonable attorney’s fees, incurred by the Holder in enforcing the obligations of the Company
under this Subordinated Note. 
 (f) Confidentiality. By the Holder’s acceptance hereof, the Holder, by acceptance
of his, her or its Subordinated Note, agrees to keep confidential and not disclose, divulge or use for any unauthorized purpose any confidential, proprietary or secret information which the Holder may obtain from the Company and which is marked by
the Company as confidential (i) pursuant to financial statements, reports and other materials submitted by the Company to the Holder, or (ii) pursuant to visitation or inspection rights (if any) granted to the Holder, in each case, unless
such information is known, or until such information becomes known, to the public, or the Holder is required by any governmental agency, court or other regulatory body having jurisdiction over the Holder to disclose such information, but only for
the sole purpose of and solely to the extent required by such agency, court or other regulatory body, provided that the Holder, to the extent possible, shall give the Company prior written notice of the proposed disclosure and cooperate fully with
the Company to minimize the scope of any such required disclosure, to the extent possible and in accordance with applicable law. 
 (g) Headings. The headings in this Subordinated Note are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision of this Subordinated Note. 

(Signature Page Follows) 

  
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 IN WITNESS WHEREOF, this Subordinated Note has been executed and delivered on the date first
above written by the undersigned authorized representative of the Company. 
  

			
	AUTOGENOMICS, INC.
		
	By:	 	  

		 	Fareed Kureshy
		 	President & CEO

  
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 Annex 1 
 : REGARDING THE SUBORDINATED NOTES AGENT. 
 1.1 Appointment.

 (a) Subordinated Notes Representative. The holders of the Subordinated Notes (the “Holders”) desire to
designate a Person to act as their collateral agent and representative for and on their behalf, with respect to the Collateral. Accordingly, by execution of the Note Documents, each Holder, by acceptance of his, her or its Subordinated Note,
irrevocably appoints and authorizes Citibank, N.A., acting through its Citibank Agency & Trust division, to act as the Subordinated Notes Representative with respect to Collateral matters under the Note Documents, including as secured party
for the purpose of perfecting such Holder’s security interest in the Collateral, in each case on the terms and conditions set forth therein and in this Annex 1. The Holders hereby grant to the Subordinated Notes Representative all such powers
and authority as are necessary, desirable or appropriate to carry out the functions and duties delegated or assigned to the Subordinated Notes Representative under the Note Documents, including to take all actions as may be necessary, appropriate or
desirable in the reasonable judgment of the Subordinated Notes Representative to accomplish any of the foregoing (including the authority to release Collateral from the Liens created under the Note Documents under the circumstances specifically
provided herein and therein). 
 (b) Sub-Agents. The Subordinated Notes Representative may execute and perform its
duties (including, without limitation, the enforcement of any rights in the Collateral) under the Note Documents either directly or by or through any other Person designated by the Subordinated Notes Representative in a written notice signed by it
and delivered to the Company and each Holder (such other Person being a “Sub-Agent”), provided that, the Subordinated Notes Representative shall remain responsible for the execution and performance of such duties and any execution
and performance of such duties by a Sub-Agent shall be deemed to be an action taken by the Subordinated Note Representative. 

(c) Benefits. The provisions of this Annex 1 are solely for the benefit of the Subordinated Notes Representative and the Holders,
and no Company Party nor other Person shall have any rights as a third party beneficiary of any such provisions. In performing its duties under the Note Documents, the Subordinated Notes Representative shall act solely as an agent and representative
of the Holders as provided in this Annex 1 and the Subordinated Notes Representative shall not have, or be deemed to have, by reason of the Note Documents or otherwise, any duty or obligation toward, or relationship of agency or trust with, any the
Company Party or any other Person. 

 1.2 Subordinated Notes Representative’s Duties. 

(a) General. The Subordinated Notes Representative shall undertake to perform such functions and duties, and only such functions
and duties, as are specifically set forth in the Note Documents, respectively, and no implied covenants or obligations shall be read into any Note Document against the Subordinated Notes Representative. The duties of the Subordinated Notes
Representative shall be mechanical and administrative in nature. Except as expressly set forth herein and in the any other Note Document, the Subordinated Notes Representative shall not have any duty to disclose, and the Subordinated Notes
Representative shall not be liable for any failure to disclose, any information relating to any the Company Party that is communicated to or obtained by the Subordinated Notes Representative or any of its Affiliates in any other capacity. Neither
the Subordinated Notes Representative nor any of its Affiliates, nor any of its or their respective officers, partners, members, employees, attorneys, agents or representatives, shall be liable to any Holder for any action taken or suffered by it or
them or omitted to be taken by it or them hereunder or under any other Note Document, or in connection herewith or therewith, except for damages arising from the Subordinated Notes Representative’s own gross negligence or willful misconduct as
determined by a final non-appealable judgment of a court of competent jurisdiction. In no event shall the Subordinated Notes Representative be liable or otherwise responsible for any actions taken, or omitted to be taken, or any payments due from,
any the Company Party or Affiliate thereof. 
 (b) Collateral Matters. In addition, except as otherwise expressly
provided for in the Note Documents, the Subordinated Notes Representative shall have no obligation whatsoever to any Holder or any other Person to investigate, confirm or assure that the Collateral exists, has any value, or is owned by any Company
Party or is cared for, protected or insured or has been encumbered, or whether any particular reserves are appropriate, or that the Liens granted to the Subordinated Notes Representative in or pursuant to the Note Documents have been properly or
sufficiently or lawfully created or are entitled to any particular priority, it being understood and agreed that (i) in respect of the Collateral, or any act, omission or event related thereto prior to the occurrence of any Event of Default,
the Subordinated Notes Representative may act in any manner deemed appropriate, in its reasonable discretion, (ii) upon the occurrence and during the continuance of an Event of Default, the Subordinated Notes Representative shall act upon
notice and instruction of the Requisite Holders and (iii) the Subordinated Notes Representative shall have no duty or liability whatsoever to any Holder, other than liability for its own gross negligence, bad faith or willful misconduct as
determined by a final non-appealable judgment of a court of competent jurisdiction. Each Holder, by acceptance of his, her or its Subordinated Note, appoints each other Holder as its agent for the purpose of perfecting the Subordinated Notes
Representative’s security interest for the benefit of the Holders in Collateral which, in accordance with Article 9 of the UCC, can be perfected by possession. Should any Holder Party (other than the Subordinated Notes Representative) obtain
possession of any such Collateral, such Holder Party shall notify the Subordinated Notes Representative thereof and, promptly upon the Subordinated Notes Representative’s request therefor, shall deliver such Collateral to the Subordinated Notes
Representative or in accordance with the Subordinated Notes Representative’s instructions. No provision of this Agreement shall require the Subordinated Notes Representative to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers if it shall have reasonable grounds for believing that reimbursement of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it unless such risk or liability relates to its ordinary services under this agreement, and the Security Agreement. 

 (c) The Subordinated Notes Representative shall be entitled to rely upon any
order, judgment, certification, demand, instruction, notice, instrument, consent, authorization, receipt, power of attorney, e-mail, .pdf or other writing delivered to it without being required to determine the authenticity or validity thereof, or
the correctness of any fact stated therein or the propriety or validity or the service thereof or the jurisdiction of the court issuing any judgment or order. The Subordinated Notes Representative may act in reliance upon any signature believed by
it to be genuine and may assume that any person purporting to make any statement or execute any document in connection with the provisions hereof has been duly authorized to do so. 

(d) No Special Damages. In no event shall the Subordinated Notes Representative be responsible or liable for
special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Subordinated Notes Representative has been advised of the likelihood of such loss or damage and
regardless of the form of action. 
 1.3 Requests for Instructions. If the Subordinated Notes Representative shall
request instructions from the Requisite Holders with respect to any act or action (including a failure to act) in connection with any Note Document, the Subordinated Notes Representative shall be entitled to refrain from such action or taking such
action unless and until it shall have received instructions from the Requisite Holders and it shall not incur any liability to any Person by reason of so refraining. The Subordinated Notes Representative may ask for confirmation from requesting
holders that such holders constitute the Requisite Holders. The Subordinated Notes Representative shall be fully justified in failing or refusing to take any action hereunder or under any other Note Document (a) if such action would, in the
opinion of the Subordinated Notes Representative, be contrary to law or the terms of any Note Document or (b) if the Subordinated Notes Representative shall not first be indemnified to its reasonable satisfaction against any and all liability
and expense which may reasonably be incurred by it by reason of taking or continuing to take any such action. Without limiting the foregoing, no Holder shall have any right of action whatsoever against the Subordinated Notes Representative as a
result of the Subordinated Notes Representative acting or refraining from taking any action hereunder or under any other Note Document in accordance with the instructions of the Requisite Holders. 

 1.4 Subordinated Notes Representative’s Reliance, Etc. Neither the Subordinated
Notes Representative nor any of its Affiliates nor any of its or their respective officers, partners, members, employees, attorneys, agents or representatives shall be liable for any action taken or omitted to be taken by it or them under or in
connection with any Note Document, except for damages caused by its or their own gross negligence, bad faith or willful misconduct as determined by a final non-appealable judgment of a court of competent jurisdiction (and in such event, in addition
to any other rights, powers or remedies available to the Holders, the Holders may, upon a vote of the Requisite Holders, remove the Subordinated Notes Representative and appoint a successor Subordinated Notes Representative in accordance with the
provisions of this Annex 1). Without limiting the generality of the foregoing, the Subordinated Notes Representative (a) may, in all questions arising hereunder or under any other Note Document, consult with legal counsel, independent public
accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants or other experts; (b) makes no representation or
warranty to any Holder and shall not be responsible to any Holder for any representations, warranties or statements made by any Company Party in or in connection with any Note Document; (c) shall not have any duty to ascertain or to inquire as
to the performance or observance of any of the terms, covenants or conditions of any Note Document on the part of any the Company Party or to inspect the Collateral (including the books and records) of any the Company Party, (d) shall not be
responsible to any Holder for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of any Note Document, or any instrument or document furnished pursuant hereto or thereto, with respect to any party other than
itself and (e) shall incur no liability under or with respect to any Note Document by acting upon any notice, consent, certificate or other instrument or writing (which may be telecopy, telegram, cable or telex) believed by it to be genuine and
signed or sent by the Person or Persons purported to have signed or sent the same. 
 1.5 Subordinated Notes Representative
and Affiliates. The Subordinated Notes Representative and its Affiliates may lend money to, invest in, and generally engage in any kind of business with, any the Company Party or any of their respective Affiliates or any other Persons who may do
business with or own securities of any the Company Party or any such Affiliates or Persons, all as if the Subordinated Notes Representative were not the Subordinated Notes Representative and without any duty to account therefor to the Holders. The
Subordinated Notes Representative and its Affiliates may accept fees and other consideration from the Company Parties for services in connection with the Note Documents or otherwise without having to account for the same to the Holders. 

1.6 Holder Decisions. Each Holder, by acceptance of his, her or its Subordinated Note, acknowledges that it has, independently and
without reliance upon the Subordinated Notes Representative or any other Holder and based on such documents and information as it has deemed appropriate, made its own credit and financial analysis of the Company Parties and its own decision to enter
into the Note Documents. Each Holder also acknowledges that it will, independently and without reliance upon the Subordinated Notes Representative or any other Holder and based on such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action under the Note Documents. 

 1.7 Successor Subordinated Notes Representative. The Subordinated Notes
Representative may resign at any time by furnishing not less than thirty (30) days prior written notice thereof to the Holders and the Company Parties. Upon receipt of any such notice of resignation, the Requisite Holders shall have the right
to appoint a Person to act as a successor Subordinated Notes Representative. If no successor Subordinated Notes Representative shall have been so appointed by the Requisite Holders and shall have accepted such appointment within thirty
(30) days after the resigning Subordinated Notes Representative’s giving such notice of resignation, the resigning Subordinated Notes Representative may, on behalf of the Holders, appoint a Person to act as a successor Subordinated Notes
Representative, which shall be a Holder, if a Holder is willing to accept such appointment, or otherwise shall be a commercial bank or financial institution or a subsidiary of a commercial bank or financial institution if such commercial bank or
financial institution is organized under the laws of the United States of America or of any State thereof and has a combined capital and surplus of at least $1,000,000,000. Upon (i) the acceptance by any Person of an appointment as successor
Subordinated Notes Representative, (ii) the execution and delivery by such successor Subordinated Notes Representative of a binding agreement to assume the duties and obligations imposed on the Subordinated Notes Representative hereunder and
under the Note Documents and (iii) the delivery to such successor Subordinated Notes Representative of the Collateral then held by the resigning Subordinated Notes Representative and any UCC financing statements or other documents as may be
necessary or appropriate to assign the Subordinated Notes Representative’s security interest in the Collateral to a third Person, such successor Subordinated Notes Representative shall succeed to and become vested with all the rights, powers,
privileges and duties of the resigning Subordinated Notes Representative and the resigning Subordinated Notes Representative shall be discharged from its duties and obligations under the Note Documents, except that any indemnity rights or other
rights in favor of such resigning Subordinated Notes Representative shall continue in its favor. After the resignation of any resigning Subordinated Notes Representative hereunder, the provisions of this Annex 1 shall inure to its benefit as to any
actions taken or omitted to be taken by it while it was Subordinated Notes Representative, as the case may be, under the Note Documents. In addition, the Holders may, upon a vote of the Requisite Holders, remove the Subordinated Notes
Representative, as the case may be, and appoint a successor Subordinated Notes Representative, as the case may be, pursuant to the procedures set forth above in this Section 1.7. 

1.8 Dissemination of Information. The Subordinated Notes Representative shall provide to the Holders any notices of Event of
Default or other notices under the Note Documents received by the Subordinated Notes Representative from, or delivered by the Subordinated Notes Representative to, the Company or any Holder, and prior notice of any action to be taken by the
Subordinated Notes Representative following any Event of Default. Each Holder acknowledges that the Company is required to provide certain financial and other information to the Holders in accordance with Section 4(b) of the Subordinated Notes
and agrees that the Subordinated Notes Representative shall not have a duty to provide any of the same to such Holder. 

 1.9 Actions in Concert; Remedies Cumulative. Notwithstanding anything to the
contrary, each Holder by accepting his, her or its Subordinated Note agrees with each other Holder that no Holder shall take any action to protect or enforce its rights to the Collateral under or arising out of any Note Document other than any
Subordinated Note (including exercising any rights of setoff) without first providing notice to the Subordinated Notes Representative and obtaining the prior written consent of the Requisite Holders, it being the intent of the Holders that any such
action to protect or enforce such rights shall be taken in concert at the direction or with the consent of the Requisite Holders. Notwithstanding anything herein or in any other Note Document, nothing shall impair the absolute right for a Holder to
receive payment of the principal of and interest on such Holder’s Subordinated Note after the when such principal or interest, as the case may be, becomes due and payable. No right or remedy herein conferred upon or reserved to the Subordinated
Notes Representative or any of the Holders is intended to be exclusive of any other right or remedy, and every such right or remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder,
under any Note Document or now or hereafter existing at law, in equity, or otherwise, and each and every right, power and remedy whether specifically given herein or otherwise existing may be exercised from time to time and as often and in such
order as may be deemed expedient by the party exercising such right, power or remedy, and the exercise or the beginning of the exercise of any right, power or remedy shall not be construed to be a waiver of the right to exercise at the same time or
thereafter any other right, power or remedy. 
 1.10 Defaults. The Subordinated Notes Representative shall not be deemed
to have knowledge or notice of the occurrence of an Event of Default unless the Subordinated Notes Representative shall have received a notice from the Company or any Holder specifying that an Event of Default shall have occurred and is continuing
and which states that such written notice is a “notice of default.” The Subordinated Notes Representative shall take such action with respect to the Collateral upon the occurrence and during the continuance of such Event of Default as
shall be directed by the Requisite Holders; provided, however, that unless and until the Subordinated Notes Representative shall have received such directions, it may (but shall not be obligated to) take such action, or refrain from taking
such action, with respect to the Collateral as it shall deem advisable in the best interest of the Holders, except to the extent that the Note Documents expressly requires that such action be taken, or not be taken, only with the consent or upon the
authorization of Requisite Holders or all of Holders, as is required in such circumstance. 
 1.11 No Bonds. The
Subordinated Notes Representative shall not be required to post any bond. 

 Schedule to Exhibit 10.21 

The following promissory notes are substantially identical in all material respects to the representative promissory note to which this
schedule is attached and which is filed as an exhibit to AutoGenomics, Inc.’s registration statement on Form S-1 (Reg. No. 333-184121) (the “Registration Statement”), except as to the parties thereto and principal amount set
forth below. These other promissory notes are not being filed with the Registration Statement, pursuant to Instruction 2 to Item 601 of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended. 

 

							
	 Number
	  	 Holder
	  	 Principal Amount ($)
	 
	 201211-028
	  	 Kentor Trust U/A Dtd 09/18/2002
	  	 	117,451.29	  
	 201211-011
	  	 God’s Gift
	  	 	376,410.96	  
	 201211-044
	  	 Strader Family Trust
	  	 	93,789.04	  
	 201211-027
	  	 Kentor Trust U/A Dtd 09/18/2002
	  	 	32,053.77	  
	 201211-034
	  	 National Healthcare Services
	  	 	241,095.89	  
	 201211-035
	  	 National Healthcare Services
	  	 	247,561.64	  
	 201211-036
	  	 National Healthcare Services
	  	 	501,260.27	  
	 201211-046
	  	 The Testman Trust
	  	 	28,087.67	  
	 201211-007
	  	 Donald E Pogorzelski Trust
	  	 	100,000.00	  
	 201211-041
	  	 Scott GRAT No. 5
	  	 	2,851,945.21	  
	 201211-037
	  	 Piercey Trust
	  	 	291,876.71	  
	 201211-031
	  	 Lilian R Kramer 2009 Trust
	  	 	291,301.37	  
	 201211-021
	  	 I Melvin Kramer Special Revocable Trust
	  	 	291,301.37	  
	 201211-010
	  	 Elisa Kenna Trust
	  	 	582,191.78	  
	 201211-029
	  	 Kim Pegula & Terrence Pegula JT TEN
	  	 	465,884.93	  
	 201211-003
	  	 Brian J Carruthers
	  	 	291,136.99	  
	 201211-019
	  	 Holder Enterprises LLC
	  	 	465,819.18	  
	 201211-042
	  	 Sidney L McDonald
	  	 	465,753.42	  
	 201211-025
	  	 Jeff Olson Consultant Retirement Trust
	  	 	291,136.99	  
	 201211-006
	  	 David Savula and Beverly Savula JTWROS
	  	 	291,136.99	  
	 201211-043
	  	 Stephen Lepley and Laura Jane Lepley, TIC
	  	 	291,136.99	  
	 201211-022
	  	 Ivie Family Limited Partnership
	  	 	291,054.79	  
	 201211-026
	  	 John David Wine
	  	 	291,013.70	  
	 201211-033
	  	 Mary Ann 0Evans
	  	 	290,890.41	  
	 201211-049
	  	 Woodford Farm Trust
	  	 	290,890.41	  
	 201211-020
	  	 Hubbard Properties, Inc.
	  	 	639,868.49	  
	 201211-005
	  	 Carson Retained Annuity Trust
	  	 	290,726.03	  
	 201211-012
	  	 Heiligbrodt Family Partnership
	  	 	626,986.30	  
	 201211-002
	  	 Belmont Insurance Co, Inc.
	  	 	125,200.00	  
	 201211-004
	  	 Bubalo Family Trust
	  	 	124,641.10	  
	 201211-032
	  	 Linda Formo Brandes Trust
	  	 	304,986.30	  
	 201211-018
	  	 Helen Lovaas Trust FBO Theresa Bell
	  	 	60,972.60	  
	 201211-014
	  	 Helen Lovaas Trust FBO Cindy Westwood
	  	 	60,972.60	  
	 201211-017
	  	 Helen Lovaas Trust FBO Kathy Redenius
	  	 	60,972.60	  
	 201211-015
	  	 Helen Lovaas Trust FBO Daniel Lovaas
	  	 	60,972.60	  
	 201211-016
	  	 Helen Lovaas Trust FBO Frank Bartlett
	  	 	60,972.60	  
	 201211-013
	  	 Helen Lovaas Trust FBO Christine Fennelly
	  	 	60,972.60	  
	 201211-047
	  	 Ulrich Frindt Family Trust
	  	 	60,939.73	  
	 201211-024
	  	 Jason & Paula Livingston
	  	 	121,813.70	  
	 201211-038
	  	 Randall R Lunn
	  	 	60,865.75	  
	 201211-039
	  	 Rue Family Trust
	  	 	299,232.88	  
	 201211-048
	  	 Van Fleet Family Trust
	  	 	60,923.29	  
	 201211-023
	  	 James Lauro
	  	 	12,235.62	  
	 201211-040
	  	 Rukhsana N. Bukhari
	  	 	11,660.27	  
	 201211-045
	  	 The Testman Trust
	  	 	11,008.22	  

							
	 Number
	  	 Holder
	  	 Principal Amount ($)
	 
	 201211-030
	  	 Laurence M Demers
	  	 	55,473.97	  
	 201211-008
	  	 Donald E Pogorzelski Trust
	  	 	500,000.00	  
	 201211-009
	  	 Donald E Pogorzelski Trust
	  	 	400,000.00Security Agreement

 Exhibit 10.22 
 SECURITY AGREEMENT 
 This SECOND LIEN SECURITY AGREEMENT (this
“Agreement”), dated as of November     , 2012 is entered into by and between AUTOGENOMICS, INC., a Delaware corporation (the “Grantor”) and CITIBANK, N.A., acting through its Citibank
Agency & Trust division, as collateral agent (solely in such capacity, together with its successors and assigns, the “Subordinated Notes Collateral Agent”) for the holders (the “Holders”) of the New Notes,
as defined below. 
 W I T N E S S E T H: 
 WHEREAS, the Grantor has issued unsecured Subordinated Notes due 2011 – 2012 (the “Old Notes”); 
 WHEREAS, the Old Notes have matured or are scheduled to mature shortly; 
 WHEREAS,
the Grantor has commenced an offer (the “Exchange Offer”) to issue new secured notes (the “New Notes”) in exchange for the Old Notes; 
 WHEREAS, the Grantor is granting, contemporaneously herewith, a security interest in the Collateral to the Senior Secured Lender to secure Existing Senior Indebtedness; 

WHEREAS, it is a condition to the issuance of the New Notes that the Grantor grant to the Subordinated Notes Collateral Agent for the
ratable benefit of the Holders, a security interest in the Collateral on the terms and conditions set forth herein; 
 NOW,
THEREFORE, for and in consideration of the recitals made above and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Defined Terms. All capitalized terms used herein (including in the preamble and recitals hereof) without definition shall have
the respective meanings ascribed thereto in the New Notes. Any terms used in this Agreement that are defined in the Code and not otherwise defined herein or in the New Notes shall be construed and defined as set forth in the Code. In addition to
those terms defined elsewhere in this Agreement, as used in this Agreement, the following terms shall have the following meanings: 
 (a) “Code” means the New York Uniform Commercial Code, as in effect from time to time; provided, however, that in the event that, by reason of mandatory provisions of law,
any or all of the attachment, perfection, priority, or remedies with respect to Subordinated Notes Collateral Agent’s lien on any Collateral is governed by the Uniform Commercial Code as enacted and in effect in a jurisdiction other than the
State of New York, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority, or remedies.

 (b) “Collateral” has the meaning specified therefor in
Section 2. 
 (c) “Insolvency Proceeding” means any proceeding commenced by or against any person
or entity under any provision of the United States Bankruptcy Code or any other local, state, provincial or federal bankruptcy or insolvency law, in each case, as applicable and as in effect from time to time, including without limitation
assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally with creditors, or proceedings seeking reorganization, recapitalization, arrangement of debt, or other similar relief. 

(d) “Note Documents” means the New Notes, this Agreement and any related collateral agreement entered into by the
Grantor and the Subordinated Notes Collateral Agent for the ratable benefit of the Holders, and any other agreement entered into by the Grantor and the Holders with respect to the New Notes. 

(e) “Secured Obligations” means all of the present and future obligations of Grantor arising from the New Notes, this
Agreement and the other Note Documents, including reasonable attorneys’ fees and expenses and any interest, fees, or expenses that accrue after the filing of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in
part as a claim in any Insolvency Proceeding. 
 (f) “Security Interest” has the meaning specified therefor in
Section 2. 
 (g) “Senior Secured Lender” means Tregale Group Ltd., together with its successors
and assigns. 
 2. Grant of Security Interest. Grantor hereby unconditionally grants, collaterally assigns, and pledges
to the Subordinated Notes Collateral Agent, for the ratable benefit of the Holders to secure the Secured Obligations, a security interest (hereinafter referred to as the “Security Interest”) in all of Grantor’s right, title,
and interest in and to the following (the “Collateral”), whether now owned or hereafter acquired or arising and wherever located: 
 (a) all of Grantor’s Accounts; and 
 (b) all of the proceeds, products and
profits, whether tangible or intangible, of Grantor’s Accounts, and any and all property in any form whatsoever resulting from the sale, collection, or other disposition of the Accounts (collectively, the “Proceeds”).

 3. Security for Secured Obligations. The Security Interest created hereby secures, on a second-priority basis, the
payment and performance of the Secured Obligations, whether now existing or arising hereafter. 

  
 - 2 -

 4. Representations and Warranties. 

(a) Title. The Grantor has good and valid rights in or the power to transfer the Collateral and title to the Collateral, free and
clear of all Liens except for the Lien granted to the Senior Secured Lender and any Liens on the Collateral arising solely by operation of law. 
 (b) Perfection and Priority. When a UCC financing statement has been filed against the Grantor in the appropriate jurisdiction, the Subordinated Notes Agent will have a valid and continuing
perfected security interest in the Collateral in which a security interest may be perfected by filing a financing statement under the UCC, prior to all other Liens on the Collateral except for the Lien of the Senior Secured Lender and any Liens on
the Collateral having priority solely by operation of law. In the event that the Subordinated Notes Agent files such a UCC financing statement prior to any filing by the Senior Secured Lender, (i) from and after the date that the Senior Secured
Lender files its UCC financing, the Lien created hereby shall be junior in priority to the Senior Secured Lender’s Lien with the same effect as though the Senior Secured Lender’s Lien had been perfected prior to the perfection of the Lien
created hereby, and (2) the Subordinated Notes Agent and the Grantor shall, at the Grantor’s expense, take such action as reasonably requested by the Senior Secured Lender to evidence the first priority of the Senior Secured Lender’s
Lien. 
 (c) No Consents. No consent of any other person or entity and no authorization, approval, or other action by,
and no notice to or filing with, any governmental authority or regulatory body is required (i) for the granting of a security interest on the Collateral by the Grantor pursuant to this Agreement or for the execution, delivery or performance of
this Agreement by the Grantor, (ii) for the perfection or maintenance of the security interest created hereby (including the second priority nature of such security interest), (iii) for the exercise by the Subordinated Notes Collateral
Agent of its rights and remedies hereunder, or (iv) for the exercise by any Holder of its rights and remedies hereunder. 

(d) No Conditions. There are no conditions precedent to the effectiveness of this Agreement that have not been satisfied or
waived. 
 (e) Organization, Etc. The Grantor is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware. 
 (f) No Conflicts. The execution, delivery and performance by the Grantor of
this Agreement and the transactions contemplated hereby are within the Grantor’s corporate powers, have been duly authorized by all necessary corporate action, and do not (i) contravene the Grantor’s charter or by-laws,
(ii) violate any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award applicable to the Grantor or its subsidiaries, or (iii) conflict with or result in the breach of, or constitute a default under, any
material contract binding on or affecting the Grantor, any subsidiary of the Grantor or any of their respective properties. 

(g) Enforceable Agreement. This Agreement is the legal, valid and binding obligation of the Grantor, enforceable against the
Grantor in accordance with its terms, except that such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium, liquidation, or other similar laws affecting the enforcement of creditor’s rights generally, and by general
principles of equity. 

  
 - 3 -

 (h) No Reliance. The Grantor has, independently and without reliance upon any Holder
or the Subordinated Notes Collateral Agent and based upon such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. 

5. Transfers and Other Liens. The Grantor agrees that it will not create or permit to exist any Lien, security interest, option or
other charge or encumbrance upon or with respect to any of the Collateral, except for the security interest under this Agreement, the Lien granted to the Senior Secured Lender and any Liens on the Collateral arising solely by operation of law.

 6. Further Assurances. 
 (a) Grantor agrees that from time to time, at its own expense, Grantor will promptly execute and deliver all further instruments and documents, and take all such further action, that may be necessary or
that Subordinated Notes Collateral Agent may reasonably request, in order to perfect and protect the Security Interest granted hereby, and the priority of the Security Interest, or to enable the Subordinated Notes Collateral Agent to exercise and
enforce its rights and remedies hereunder with respect to any of the Collateral. Grantor shall confirm that appropriate UCC financing statements have been filed in all requisite United States jurisdictions to perfect the security interest of the
Subordinated Notes Representative, as agent for the Holders, in respect of that portion of the Collateral for which, in accordance with Article 9 of the UCC, perfection may be obtained by filing a UCC financing statement. 

(b) Grantor authorizes the filing by the Subordinated Notes Collateral Agent of financing or continuation statements, or amendments
thereto, and Grantor will execute and deliver to the Subordinated Notes Collateral Agent such other instruments or notices, as may be necessary or as the Subordinated Notes Collateral Agent may reasonably request, in order to perfect and preserve
the Security Interest granted or purported to be granted hereby, including notice of any change in name, corporate structure or jurisdiction of organization of the Grantor. 
 7. Subordinated Notes Collateral Agent’s Duties. The Subordinated Notes Collateral Agent’s duties are as set forth in Annex 1 to the New Notes, and the Subordinated Notes
Collateral Agent agrees to be bound thereby as though fully set forth herein. The Subordinated Note Collateral Agent hereby acknowledges that it is acting for and on behalf of the Holders with respect to Collateral matters and agrees that all of its
right, title and interest in and interest in and to the Collateral shall be solely for the respective benefit of each Holder. 

  
 - 4 -

 8. Remedies. Subject to terms of the New Notes, upon the occurrence and during the
continuance of an Event of Default: 
 (a) The Subordinated Notes Collateral Agent may exercise in respect of the Collateral,
in addition to other rights and remedies provided for herein, in the other Note Documents, or otherwise available to it, all the rights and remedies of a secured party on default under the Code or any other applicable law. Without limiting the
generality of the foregoing, Grantor expressly agrees that, in any such event, the Subordinated Notes Collateral Agent without demand of performance or other demand, advertisement or notice of any kind (except a notice specified below of time and
place of public or private sale) to or upon Grantor or any other person or entity (all and each of which demands, advertisements and notices are hereby expressly waived to the maximum extent permitted by the Code or any other applicable law), may
take immediate possession of all or any portion of the Collateral and without notice except as specified below, sell the Collateral or any part thereof in one or more parcels at public or private sale, at any of the Subordinated Notes Collateral
Agent’s offices or elsewhere, for cash, on credit, and upon such other terms as the Requisite Holders may deem commercially reasonable. Grantor agrees that, to the extent notice of sale shall be required by law, at least 10 days’ notice to
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 and specifically such notice shall constitute a reasonable “authenticated notification of
disposition” within the meaning of Section 9-611 of the Code. The Subordinated Notes Collateral Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Subordinated Notes Collateral
Agent 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. 

(b) Any cash held by Subordinated Notes Collateral Agent as Collateral and all cash proceeds received by Subordinated Notes Collateral
Agent in respect of any sale of, collection from, or other realization upon all or any part of the Collateral shall be applied against the Secured Obligations. 
 9. Subordinated Notes Collateral Agent May Perform. If the Grantor fails to perform any agreement contained herein, the Subordinated Notes Collateral Agent may itself perform, or cause performance
of, such agreement, and the expenses of the Subordinated Notes Collateral Agent incurred in connection therewith will be payable by the Grantor under Section 12 hereof. 
 10. Subordinated Notes Collateral Agent Appointed Attorney-in-Fact. The Grantor hereby appoints the Subordinated Notes Collateral Agent the Grantor’s attorney-in-fact, with full authority, but
without any obligation whatsoever, in the place and stead of the Grantor and in the name of the Grantor or otherwise, from time to time upon the Grantor’s written request to take any action and to execute any instrument which may be necessary
or advisable to accomplish the purposes of this Agreement, including, without limitation, to receive, indorse and collect all instruments made payable to the Grantor representing any interest payment, dividend or other distribution in respect of the
Collateral or any part thereof. This appointment shall not be deemed to create any liability on the part of the Subordinated Notes Collateral Agent. 

  
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 11. Remedies Cumulative. Each right, power, and remedy of the Subordinated Notes
Collateral Agent as provided for in this Agreement or in the other Note Documents or now or hereafter existing at law or in equity or by statute or otherwise shall be cumulative and concurrent and shall be in addition to every other right, power, or
remedy provided for in this Agreement or in the other Note Documents or now or hereafter existing at law or in equity or by statute or otherwise, and the exercise or beginning of the exercise by the Subordinated Notes Collateral Agent, of any one or
more of such rights, powers, or remedies shall not preclude the simultaneous or later exercise by the Subordinated Notes Collateral Agent of any or all such other rights, powers, or remedies. 

12. Fees and Expenses; Indemnification. 
 (a) Compensation. The Grantor covenants and agrees to pay the Subordinated Notes Collateral Agent’s fees and expenses specified in Schedule B, including, but not limited to, the
reasonable fees and expenses of its counsel and of any experts and agents, which the Subordinated Notes Collateral Agent may incur in connection with (a) the preparation, execution and administration of this Agreement, (b) the custody or
preservation of, or the sale of, collection from, or other realization upon, any of the Collateral, (c) the exercise or enforcement of any of the rights of the Subordinated Notes Collateral Agent hereunder or (d) the failure by the Grantor
to perform or observe any of the provisions hereof. Any attorney’s fees incurred in connection with the preparation and negotiation of this Agreement and any Collateral Agent acceptance fees shall be due and payable upon the execution of this
Agreement. In the event that any fees or expenses or any other obligations owed to the Subordinated Notes Collateral Agent (or its counsel) are not paid to the Subordinated Notes Collateral Agent within 30 calendar days following the presentment of
any invoice for the payment of such fees and expenses or the demand for such payment, then the Subordinated Notes Collateral Agent may, without further action or notice to Grantor, pay such fees and expenses from the Collateral and may sell, convey
or otherwise dispose of any Collateral for such purpose solely to the extent necessary to pay such fees and expenses and any excess shall be deemed property of the Grantor and constitute Collateral. 

(b) Indemnification. The Grantor covenants and agrees, to indemnify the Subordinated Notes Collateral Agent, and its employees,
officers, directors and agents (each, an “Indemnified Party”) and hold each Indemnified Party harmless, for, hold each Indemnified Party harmless from, and defend each Indemnified Party against any and all claims, losses, actions,
liabilities, costs, damages or expenses (collectively, “Losses”) of any nature incurred by any Indemnified Party arising out of or in connection with this Agreement or with the administration of its duties hereunder, including but
not limited to attorney’s fees, tax liabilities (including any taxes, interest and penalties but excluding any income tax liabilities associated with the Subordinated Notes Collateral Agent’s fees), any liabilities or damages that may
result from any inaccuracy or misrepresentation made in any tax certification provided to the Subordinated Notes Collateral Agent, and other costs and expenses of defending or preparing to defend against any claim of liability, except to the extent
such Losses shall have been finally adjudicated by a court of competent jurisdiction to have resulted solely from the Indemnified Party’s own gross negligence or willful misconduct. This Section 12(b) shall survive notwithstanding the
termination of this Agreement or resignation or removal of the Subordinated Notes Collateral Agent. 

  
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 13. Amendments; Etc. No waiver of any provision of this Agreement, and no consent to
any departure by Grantor herefrom, shall in any event be effective unless the same shall be in writing and signed by the Subordinated Notes Collateral Agent. No amendment of any provision of this Agreement shall be effective unless the same shall be
in writing and signed by the Subordinated Notes Collateral Agent and Grantor. 
 14. Addresses for Notices; Instructions;
Communications. 
 (a) All notices and other communications provided for hereunder shall be given in the form and manner
and delivered to the Subordinated Notes Collateral Agent at its address specified on the signature page hereto, and to the Grantor at its specified address for notices in the signature page hereto, or, as to any party, at such other address as shall
be designated by such party in a written notice to the other party. 
 (b) All instructions required under the Agreement shall
be delivered to the Subordinated Notes Collateral Agent in writing, in English, and may be delivered to the Subordinated Notes Collateral Agent by facsimile or by e-mail and, if so requested by the Subordinated Notes Collateral Agent, by an
original, executed by the applicable Holder or by an Authorized Person (as hereinafter defined) of the Grantor. The identity of such Authorized Persons, as well as their specimen signature, title, telephone number and e-mail address, shall be
delivered to the Subordinated Notes Collateral Agent in the list of authorized signers form as set forth on Schedule A and shall remain in effect until the Grantor, or an entity acting on its behalf, notifies the Subordinated Notes Collateral
Agent of any change thereto (the person(s) so designated from time to time, the “Authorized Persons”). The Subordinated Notes Collateral Agent, the Grantor and (by acceptance of his, her or its New Note) each Holder agree that the
above constitutes a commercially reasonable security procedure and further agree not to comply with any direction or instruction (other than those contained herein or delivered in accordance with the Agreement) from the Grantor or any Holder.

 (c) In the event funds transfer instructions are given, whether in writing, by facsimile, .pdf, e-mail, or otherwise, such
funds transfer instructions should contain a selected test word also evidenced on Schedule A. Test words must contain at least eight (8) alphanumeric characters, established at document execution. In addition or in lieu of test words,
the Subordinated Notes Collateral Agent is authorized to seek confirmation of such instructions by telephone call back to the applicable person(s) set forth on Schedule A, and the Subordinated Notes Collateral Agent may rely upon the
confirmations of anyone purporting to be the person(s) so designated. To ensure the accuracy of the instructions it receives, the Subordinated Notes Collateral Agent may record such call backs. If the Subordinated Notes Collateral Agent is unable to
verify the instruction, or is not satisfied in its sole discretion with the verification it receives, it will not execute the instruction until all issues have been resolved to its satisfaction. The persons and telephone numbers for call backs may
be changed only in writing, signed by an Authorized Person, actually received and acknowledged by the Subordinated Notes Collateral Agent. The Grantor and (by its acceptance of his, her or its New Note) each Holder agree that these security
procedures for funds transfers are commercially reasonable. 

  
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 (d) To help the U.S. government fight the funding of terrorism and money laundering
activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. In the event that an account is opened, the Subordinated Notes Collateral Agent will ask for
information that will allow the Subordinated Notes Collateral Agent to identify relevant parties. The Grantor hereby acknowledges such information disclosure requirements and agree to comply with all such information disclosure requests from time to
time from the Subordinated Notes Collateral Agent. 
 (e) Notwithstanding anything to the contrary herein, any and all e-mail
communications (both text and attachments) by or from the Subordinated Notes Collateral Agent that the Subordinated Notes Collateral Agent deems to contain confidential, proprietary, and/or sensitive information shall be encrypted. The recipient
(the “E-mail Recipient”) of the encrypted e-mail communication will be required to complete a registration process. Instructions on how to register and/or retrieve an encrypted message will be included in the first secure email sent
by the Subordinated Notes Collateral Agent to the E-mail Recipient. Additional information and assistance on using the encryption technology can be found at Citibank’s Secure E-mail website at
www.citigroup.com/citi/citizen/finance/privacy/email.htm or by calling (866) 535-2504 (in the U.S.) or (904) 954-6181 (outside the U.S.). 
 (f) In accordance with the Unlawful Internet Gambling Act (the “Act”), neither the Grantor nor any Holder may not use any deposit account subject hereto or other Citibank facilities in
the United States to process ‘restricted transactions’ as such term is defined in 31 CFR Section 132.2(y). Therefore, neither the Grantor nor any Holder, nor any person who has an ownership interest in or control over any deposit
account subject hereto may use it to process or facilitate payments for prohibited internet gambling transactions. For more information about the Act, including the types of transactions that are prohibited, please refer to the following link:
http://www.federalreserve.gov/NEWSEVENTS/PRESS/BCREG/20081112B.HTM. 
 (g) The provisions of this
Section 14(b)-(f) may be amended by the Subordinated Notes Collateral Agent unilaterally upon notice to the Grantor and the Holders. 
 15. Use of Name. No printed or other material in any language, including prospectuses, notices, reports, and promotional material which mentions “Citibank”, “Citigroup”
or “Citi” by name or the rights, powers, or duties of the Subordinated Notes Collateral Agent under the Agreement shall be issued by the Grantor, or on such party’s behalf, without the prior written consent of the Subordinated Notes
Collateral Agent. 

  
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 16. Continuing Security Interest. This Agreement shall create a continuing security
interest in the Collateral and shall (a) remain in full force and effect until the Secured Obligations have been paid in full in cash, (b) be binding upon Grantor, and its successors and assigns, and (c) inure to the benefit of, and
be enforceable by, the Subordinated Notes Collateral Agent and the Holders and their respective successors and assigns. Upon payment in full in cash of the Secured Obligations, the Security Interest granted hereby shall terminate and all rights to
the Collateral shall revert to Grantor or any other person entitled thereto. At such time, the Subordinated Notes Collateral Agent will authorize the filing of appropriate termination statements to terminate such Security Interests. In addition,
upon the sale, transfer, or other disposition of Collateral by Grantor in transactions not prohibited by the Note Documents, such Collateral will be sold, transferred or otherwise disposed of free and clear of the Liens created by this Agreement and
the Subordinated Notes Collateral Agent, at the request and sole expense of Grantor, will execute and deliver such documentation reasonably requested by Grantor, including termination or partial release statements and the like in connection
therewith, and assign, transfer and deliver to Grantor (without recourse and without any representation or warranty) such of the Collateral as is then being (or has been) so sold, transferred or otherwise disposed of, or released, and as may be in
the possession of the Subordinated Notes Collateral Agent and has not been theretofore released pursuant to this Agreement. 

17. Governing Law. THE VALIDITY OF THIS AGREEMENT, THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF, AND THE RIGHTS OF
THE PARTIES HERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR RELATED HERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

18. Consent to Jurisdiction, Etc. The parties irrevocably (a) submit to the exclusive jurisdiction of the federal and state
courts located in the Borough of Manhattan, City, County and State of New York, for any proceedings commenced regarding this Agreement, including, but not limited to, any interpleader proceeding or proceeding for the appointment of a successor
collateral agent may commence pursuant to this Agreement. The parties irrevocably submit to the jurisdiction of such courts for the determination of all issues in such proceedings and irrevocably waive any objection to venue or inconvenient forum
for any proceeding brought in any such court. The parties irrevocably and unconditionally waive, to the fullest extent permitted by law, and agree not to plead or claim, any right of immunity from legal action, suit or proceeding, from setoff or
counterclaim, from the jurisdiction of any court, from service of process, from attachment upon or prior to judgment, from attachment in aid of execution of judgment, from execution of judgment, or from any other legal process or proceeding for the
giving of any relief or for the enforcement of any judgment, and consent to such relief and enforcement against it, its assets and its revenues in any jurisdiction, in each case with respect to any matter arising out of, or in connection with, this
Agreement. 
 19. WAIVER OF JURY TRIAL. EACH OF THE GRANTOR AND THE SUBORDINATED NOTES COLLATERAL AGENT IRREVOCABLY
WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE SUBORDINATED NOTES COLLATERAL AGENT’S ACTIONS IN THE NEGOTIATION,
ADMINISTRATION OR ENFORCEMENT HEREOF. 

  
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 20. Ambiguity. In the event of any ambiguity or uncertainty hereunder or in any
notice, instruction or other communication received by the Subordinated Notes Collateral Agent hereunder, the Subordinated Notes Collateral Agent may, in its sole discretion, refrain from taking any action other than retain possession of the
Collateral, unless the Subordinated Notes Collateral Agent receives written instructions, signed by an Authorized Person of the applicable Holder or Requisite Holders, as appropriate, which eliminates such ambiguity or uncertainty. 

21. Miscellaneous. 
 (a) This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all
of which, when taken together, shall constitute but one and the same Agreement. Delivery of an executed counterpart of this Agreement by telefacsimile or other electronic method of transmission shall be equally as effective as delivery of an
original executed counterpart of this Agreement. 
 (b) Any provision of this Agreement which is prohibited or unenforceable
shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity or enforceability of such provision in any other jurisdiction. 

(c) Headings used in this Agreement are for convenience only and shall not be used in connection with the interpretation of any
provision hereof. 
 [Signatures Follow] 

  
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 IN WITNESS WHEREOF, the undersigned parties hereto have executed this Agreement by and
through their duly authorized officers, as of the day and year first above written. 
  

			
	Grantor:
	
	AUTOGENOMICS, INC.,
	a Delaware corporation
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Address for Notices:
	
	Subordinated Notes Collateral Agent:
	
	CITIBANK, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Address for Notices:

 

			
	Agency & Trust
	388 Greenwich Street
	14th Floor
	New York, NY 10013
	Attention:	 	
	Telephone:	 	(212) 816-            
	Facsimile:	 	(973) 461-7191 or (973) 461-7192
	Email:	 	

  
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