Document:

Corindus Vascular Robotics, Inc. 8-K

Exhibit 10.2

 

 

REGISTRATION RIGHTS AGREEMENT 

 

This
Registration Rights Agreement (this “Agreement”) is dated as of February 26, 2019, by and
among Corindus Vascular Robotics, Inc., a Delaware corporation (the “Company”), and the several signatories
hereto.

 

Recitals

 

This Agreement is made
pursuant to the Securities Purchase Agreement (the “Purchase Agreement”), dated as of February 26, 2019,
between the Company and each purchaser signatory thereto (each a “Purchaser” and collectively, the “Purchasers”).

 

Now,
Therefore, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Company and each of the Holders hereby agree as follows:

 

1.       Definitions.
Capitalized terms used and not otherwise defined herein that are defined in the Purchase Agreement shall have the meanings given
such terms in the Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings:

 

“Advice”
has the meaning set forth in Section 6(d).

 

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

 

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

 

“Effective
Date” means the date that the Registration Statement filed pursuant to Section 2(a) is first declared effective by
the Commission.

 

“Effectiveness
Deadline” means, with respect to the Initial Registration Statement or the New Registration Statement, the 180th
calendar day following the Closing Date; provided, however, that if the Effectiveness Deadline falls on a Saturday,
Sunday or other day that the Commission is closed for business, the Effectiveness Deadline shall be extended to the next Business
Day on which the Commission is open for business.

 

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

 

“Event”
has the meaning set forth in Section 2(c).

 

“Event Date”
has the meaning set forth in Section 2(c).

 

“Filing Deadline”
means, with respect to the Initial Registration Statement required to be filed pursuant to Section 2(a), the 90th
calendar day following the Closing Date; provided, however, that if the Filing Deadline falls on a Saturday, Sunday
or other day that the Commission is closed for business, the Filing Deadline shall be extended to the next business day on which
the Commission is open for business.

 

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

 

“Indemnified
Party” has the meaning set forth in Section 5(c).

 

    

     

    

 

“Indemnifying
Party” has the meaning set forth in Section 5(c).

 

“Initial
Registration Statement” means the initial Registration Statement filed pursuant to Section 2(a) of this Agreement.

 

“Inspector”
or “Inspectors” has the meaning set forth in Section 3(k).

 

“Liquidated
Damages” has the meaning set forth in Section 2(c).

 

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

 

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

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated
under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of
any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to the
Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference
in such Prospectus.

 

“Purchase
Agreement” has the meaning set forth in the Recitals.

 

“Purchaser”
or “Purchasers” has the meaning set forth in the Recitals.

 

“Records”
has the meaning set forth in Section 3(k).

 

“Registrable
Securities” means all of the Shares and any securities issued or issuable upon any stock split, dividend or other
distribution, recapitalization or similar event with respect to the Shares, provided, that with respect to a particular
Holder, such Holder’s Shares shall cease to be Registrable Securities upon the earliest to occur of the following: (A) a
sale pursuant to a Registration Statement or Rule 144 under the Securities Act (in which case, only such security sold by the Holder
shall cease to be a Registrable Security); (B) becoming eligible for resale by the Holder under Rule 144 without the requirement
for the Company to be in compliance with the current public information requirement thereunder and without volume or manner-of-sale
restrictions, pursuant to a written opinion letter of counsel for the Company to such effect, addressed, delivered and acceptable
to the Transfer Agent; or (C) the date that is three years following the Closing Date.

 

“Registration
Statements” means any one or more registration statements of the Company filed under the Securities Act that covers
the resale of any of the Registrable Securities pursuant to the provisions of this Agreement (including, without limitation, the
Initial Registration Statement, the New Registration Statement and any Remainder Registration Statements), including (in each case)
the amendments and supplements to such Registration Statements, including pre- and post-effective amendments thereto, all exhibits
and all material incorporated by reference or deemed to be incorporated by reference in such Registration Statements.

 

“Remainder
Registration Statements” has the meaning set forth in Section 2(a).

 

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

 

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

 

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

 

“SEC Guidance”
means (i) any publicly-available written or oral guidance, comments, requirements or requests of the Commission staff, provided,
that any such oral guidance, comments, requirements or requests are reduced to writing by the Commission and (ii) the Securities
Act.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Selling
Stockholder Questionnaire” means a questionnaire in the form attached as Annex B hereto, or such other form
of questionnaire as may reasonably be adopted by the Company from time to time.

 

“Shares”
means the shares of Common Stock issued or issuable to the Purchasers pursuant to the Purchase Agreement.

 

2.             Registration.

 

(a)          On
or prior to the Filing Deadline, the Company shall prepare and file with the Commission a Registration Statement covering the resale
of all of the Registrable Securities not already covered by an existing and effective Registration Statement for an offering to
be made on a continuous basis pursuant to Rule 415 (the “Initial Registration Statement”). The Initial
Registration Statement shall be on Form S-3 (except that if the Company is then ineligible to register for resale the Registrable
Securities on Form S-3, in which case such registration shall be on such other form available to register for resale the Registrable
Securities as a secondary offering) subject to the provisions of Section 2(e) and shall contain (except if otherwise required pursuant
to written comments received from the Commission upon a review of such Registration Statement) a “Plan of Distribution”
section substantially in the form attached hereto as Annex A (which may be modified to respond to comments, if any, provided
by the Commission).

 

(i)       Notwithstanding
the registration obligations set forth in this Section 2, in the event the Commission informs the Company that all of the
Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on
a single registration statement or that any Holder must be named as an underwriter in the Registration Statement, the Company agrees
to promptly (x) inform each of the Holders thereof and use its commercially reasonable efforts to file amendments to the Initial
Registration Statement as required by the Commission and/or (y) withdraw the Initial Registration Statement and file a new registration
statement (a “New Registration Statement”), in either case covering the maximum number of Registrable
Securities permitted to be registered by the Commission, on Form S-3 or such other form available to register for resale the Registrable
Securities as a secondary offering; provided, however, that prior to filing such amendment or New Registration Statement,
the Company shall be obligated to use its commercially reasonable efforts to advocate with the Commission for the registration
of all of the Registrable Securities in accordance with SEC Guidance, including without limitation, Compliance and Disclosure Interpretation
612.09, in each case without naming any Holder as an underwriter in the Registration Statement. Each
Purchaser shall have the right to comment or have their counsel comment on any written submission made to the staff of Commission
(the “Staff”) with respect to any disclosure specifically relating to such Purchaser. No such written
submission shall be made to the Staff containing disclosure specifically relating to such Purchaser to which such Purchaser’s
counsel reasonably objects.

 

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(ii)      Notwithstanding
any other provision of this Agreement and subject to the payment of liquidated damages in Section 2(c), if any SEC Guidance
sets forth a limitation of the number of Registrable Securities permitted to be registered on a particular Registration Statement
as a secondary offering without naming any Holder as an underwriter (and notwithstanding that the Company used commercially reasonable
efforts to advocate with the Commission for the registration of all or a greater number of Registrable Securities), unless otherwise
directed in writing by a Holder as to its Registrable Securities, the Registrable Securities to be registered on such Registration
Statement will be reduced (applied, in the case that some Shares may be registered, to the Holders on a pro rata basis based on
the total number of unregistered Shares held by such Holders), subject to a determination by the Commission that certain Holders
must be reduced first based on the number of Registrable Securities held by such Holders. Any reduction of Registrable Securities
pursuant to this Section 2(a)(ii) shall occur only after all securities that are not Registrable Securities, if any, are
first removed from such Registration Statement. In the event the Company amends the Initial Registration Statement or files a New
Registration Statement, as the case may be, under clauses (x) or (y) above, the Company will use its commercially reasonable efforts
to file with the Commission, as promptly as allowed by Commission or SEC Guidance provided to the Company or to registrants of
securities in general, one or more registration statements on Form S-3 or such other form available to register for resale those
Registrable Securities that were not registered for resale on the Initial Registration Statement, as amended, or the New Registration
Statement (the “Remainder Registration Statements”). No Holder shall be named as an “underwriter”
in any Registration Statement without such Holder’s prior written consent.

 

(b)          The
Company shall use its commercially reasonable efforts to cause each Registration Statement to be declared effective by the Commission
as soon as practicable and, with respect to the Initial Registration Statement or the New Registration Statement, as applicable,
no later than the Effectiveness Deadline (including, with respect to the Initial Registration Statement or the New Registration
Statement, as applicable, filing with the Commission a request for acceleration of effectiveness in accordance with Rule 461 promulgated
under the Securities Act within five Business Days after the date that the Company is notified (orally or in writing, whichever
is earlier) by the Commission that such Registration Statement will not be “reviewed,” or not be subject to further
review and the effectiveness of such Registration Statement may be accelerated), and, subject to Section 2(e), shall use
its commercially reasonable efforts to keep each Registration Statement continuously effective under the Securities Act for so
long as the securities registered for resale thereunder retain their character as “Registrable Securities” (the “Effectiveness
Period”). The Company shall promptly notify the Holders via facsimile or electronic mail of the effectiveness of
a Registration Statement or any post-effective amendment thereto on or before the first Trading Day after the date that the Company
telephonically confirms effectiveness with the Commission. The Company shall, by 9:30 a.m. Boston time on the first Trading Day
after the Effective Date, file a final Prospectus with the Commission, as required by Rule 424(b).

 

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(c)          If:
(i) the Initial Registration Statement is not filed with the Commission on or prior to the Filing Deadline, (ii) the Initial Registration
Statement or the New Registration Statement, as applicable, is not declared effective by the Commission (or otherwise does not
become effective) for any reason on or prior to the Effectiveness Deadline or (iii) after its Effective Date and except for the
reasons as set forth in Section 3(h), (A) such Registration Statement ceases for any reason (including, without limitation,
by reason of a stop order or the Company’s failure to update the Registration Statement), to remain continuously effective
as to all Registrable Securities included in such Registration Statement or (B) the Holders are not permitted to utilize the Prospectus
therein to resell such Registrable Securities for any reason (other than due to a change in the “Plan of Distribution”
or the inaccuracy of any information regarding the Holders), in each case, for more than an aggregate of 45 calendar days (which
need not be consecutive days) during any 12-month period (other than as a result of a material breach of this Agreement by a Holder
or a Holder’s failure to return a Selling Stockholder Questionnaire within the time period provided by Section 2(d)
hereof) (any such failure or breach in clauses (i) through (iii) above being referred to as an “Event,”
and, for purposes of clauses (i) or (ii), the date on which such Event occurs, or for purposes of clause (iii), the date on which
such 45 calendar day period is exceeded, being referred to as an “Event Date”), then in addition to
any other rights the Holders may have hereunder or under applicable law: (x) within five Business Days after an Event Date relating
to a failure in clause (i) only, the Company shall pay to each Holder an amount in cash, as liquidated damages and not as a penalty,
equal to 1.0% of the aggregate purchase price paid by such Holder pursuant to the Purchase Agreement for any Registrable Securities
held by such Holder on such Event Date; and (y) on each 30-day anniversary (or pro rata portion thereof) following any Event Date
(including, for the avoidance of doubt, a failure in clause (i), in which case each 30-day anniversary shall be measured commencing
on the 31st day following such Event Date) until the earlier of (1) the applicable Event is cured or (2) the Registrable
Securities are eligible for resale pursuant to Rule 144 without manner of sale or volume restrictions, the Company shall pay to
each Holder an amount in cash, as liquidated damages and not as a penalty, equal to 1.0% of the aggregate purchase price paid
by such Holder pursuant to the Purchase Agreement for any unregistered Registrable Securities then held by such Holder. The amounts
payable pursuant to the foregoing clauses (x) and (y) are referred to collectively as “Liquidated Damages.”
The parties agree that (1) notwithstanding anything to the contrary herein or in the Purchase Agreement, no Liquidated Damages
shall be payable with respect to any period after the expiration of the Effectiveness Period and in no event shall the aggregate
amount of Liquidated Damages payable to a Holder exceed, in the aggregate, 6.0% of the aggregate purchase price paid by such Holder
pursuant to the Purchase Agreement and (2) in no event shall the Company be liable in any 30-day period for Liquidated Damages
under this Agreement in excess of 1.0% of the aggregate purchase price paid by the Holders pursuant to the Purchase Agreement.
If the Company fails to pay any Liquidated Damages pursuant to this Section 2(c) in full within 30 Business Days after the date
payable, the Company will pay interest thereon at a rate of 1.0% per month (or such lesser maximum amount that is permitted to
be paid by applicable law) to the Holder, accruing daily from the date such Liquidated Damages are due until such amounts, plus
all such interest thereon, are paid in full. Unless otherwise specified in Section 2(c), the Liquidated Damages pursuant to the
terms hereof shall apply on a daily pro-rata basis for any portion of a month prior to the cure of an Event, except in the case
of the first Event Date. Notwithstanding the foregoing, nothing shall preclude any Holder from pursuing or obtaining any available
remedies at law, specific performance or other equitable relief with respect to this Section 2(c) in accordance with applicable
law. The Company shall not be liable for Liquidated Damages under this Agreement as to any Registrable Securities which may then
be resold under Rule 144 or which are not permitted by the Commission to be included in a Registration Statement due solely to
SEC Guidance from the time that it is determined that such Registrable Securities are not permitted to be registered until such
time as the provisions of this Agreement as to the Remainder Registration Statements required to be filed hereunder are triggered,
in which case the provisions of this Section 2(c) shall once again apply, if applicable. In such case, the Liquidated Damages
shall be calculated to only apply to the percentage of Registrable Securities which are permitted in accordance with SEC Guidance
to be included in such Registration Statement. The Effectiveness Deadline for a Registration Statement shall be extended without
default or Liquidated Damages hereunder in the event that the Company’s failure to obtain the effectiveness of the Registration
Statement on a timely basis results from the failure of a Holder to timely provide the Company with information requested by the
Company and necessary to complete the Registration Statement in accordance with the requirements of the Securities Act (in which
the Effectiveness Deadline would be extended with respect to Registrable Securities held by such Holder).

 

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(d)          Each
Holder agrees to furnish to the Company a completed Selling Stockholder Questionnaire not more than ten Trading Days following
the date of this Agreement. At least five Trading Days prior to the first anticipated filing date of a Registration Statement for
any registration under this Agreement, the Company will notify each Holder of the information the Company requires from that Holder
other than the information contained in the Selling Stockholder Questionnaire, if any, which shall be completed and delivered to
the Company promptly upon request and, in any event, within two Trading Days prior to the applicable anticipated filing date. Each
Holder further agrees that it shall not be entitled to be named as a selling security holder in the Registration Statement or use
the Prospectus for offers and resales of Registrable Securities at any time, unless such Holder has returned to the Company a completed
and signed Selling Stockholder Questionnaire and a response to any reasonable requests for further information as described in
the previous sentence. If a Holder of Registrable Securities returns a Selling Stockholder Questionnaire or a request for further
information, in either case, after its respective deadline, the Company shall use its commercially reasonable efforts to take such
actions as are required to name such Holder as a selling security holder in the Registration Statement or any pre-effective or
post-effective amendment thereto and to include (to the extent not theretofore included) in the Registration Statement the Registrable
Securities identified in such late Selling Stockholder Questionnaire or request for further information. Each Holder acknowledges
and agrees that the information in the Selling Stockholder Questionnaire or request for further information as described in this
Section 2(d) will be used by the Company in the preparation of the Registration Statement and hereby consents to the inclusion
of such information in the Registration Statement.

 

(e)          In
the event that Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the Company shall
(i) register the resale of the Registrable Securities on Form S-1 and (ii) undertake to register the Registrable Securities on
Form S-3 promptly after such form is available, provided that the Company shall maintain the effectiveness of the Registration
Statement then in effect until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared
effective by the Commission.

 

3.             Registration
Procedures.

 

In connection with the
Company’s registration obligations hereunder, the Company shall:

 

(a)          Not
less than three Trading Days prior to the filing of each Registration Statement and not less than two Trading Days prior to the
filing of any related Prospectus or any amendment or supplement thereto (except for Annual Reports on Form 10-K, and Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K and any similar or successor reports), (i) furnish to the Holder copies of
such Registration Statement, Prospectus or amendment or supplement thereto, substantially in the form as proposed to be filed,
which documents will be subject to the review of such Holder (it being acknowledged and agreed that if a Holder does not object
to or comment on the aforementioned documents within such three Trading Day or two Trading Day period, as the case may be, then
the Holder shall be deemed to have consented to and approved the use of such documents) and (ii) use commercially reasonable efforts
to cause its officers and directors, counsel and independent registered public accountants to respond to such inquiries as shall
be necessary, in the reasonable opinion of respective counsel to each Holder, to conduct such review. The Company shall not file
any Registration Statement or Prospectus or any amendment or supplement thereto in a form to which a Holder reasonably objects
in good faith, provided that, the Company is notified of such objection in writing within the three Trading Day or two Trading
Day period described above, as applicable, and provided further, that no such delay in filing shall result in any Liquidated
Damages under Section 2(c).

 

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(b)          (i)
Subject to Section 3(h), prepare and file with the Commission such amendments (including post-effective amendments) and
supplements to each Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration
Statement continuously effective as to the applicable Registrable Securities for its Effectiveness Period; (ii) cause the related
Prospectus to be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and,
as so supplemented or amended, to be filed pursuant to Rule 424; (iii) respond as promptly as reasonably practicable to any comments
received from the Commission with respect to each Registration Statement or any amendment thereto and, as promptly as reasonably
possible, provide the Holders true and complete copies of all correspondence from and to the Commission relating to such Registration
Statement that pertains to the Holders as “Selling Stockholders” but not any comments that would result in the disclosure
to the Holders of material and non-public information concerning the Company; and (iv) comply with the provisions of the Securities
Act and the Exchange Act with respect to the disposition of all Registrable Securities covered by a Registration Statement until
such time as all of such Registrable Securities cease to be Registrable Securities or shall have been disposed of (subject to
the terms of this Agreement) in accordance with the intended methods of disposition by the Holders thereof as set forth in such
Registration Statement as so amended or in such Prospectus as so supplemented; provided, however, that in the event
the Company informs the Holders in writing that it does not satisfy the conditions specified in Rule 172 and, as a result thereof,
the Holders are required to deliver a Prospectus in connection with any disposition of Registrable Securities, the Company shall
deliver to the Holders a copy of the Prospectus in electronic format and each such Holder shall be responsible for the delivery
of the Prospectus to the Persons to whom such Holder sells any of the Registrable Securities, and each Holder agrees to dispose
of Registrable Securities in compliance with the “Plan of Distribution” described in the Registration Statement and
otherwise in compliance with applicable federal and state securities laws. In the case of amendments and supplements to a Registration
Statement which are required to be filed pursuant to this Agreement (including pursuant to this Section 3(b)) by reason
of the Company filing a report on Form 10-K, Form 10-Q or Form 8-K or any analogous report under the Exchange Act, the Company
shall have incorporated such report by reference into such Registration Statement, if applicable, or shall file such amendments
or supplements with the Commission on the same day on which the Exchange Act report which created the requirement for the Company
to amend or supplement such Registration Statement was filed. 

 

(c)          Notify
the Holders (which notice shall, pursuant to clauses (iii) through (vi) hereof, be accompanied by an instruction to suspend the
use of the Prospectus until the requisite changes have been made) as promptly as reasonably practicable via facsimile or electronic
mail (and, in the case of (i)(A) below, not less than two Trading Days prior to such filing) and no later than two Trading Days
following the day: (i)(A) when a Prospectus or any Prospectus supplement or post-effective amendment to a Registration Statement
is proposed to be filed; (B) when the Commission notifies the Company whether there will be a “review” of such Registration
Statement and whenever the Commission comments in writing on any Registration Statement (in which case the Company shall provide
to each of the Holders true and complete copies of all comments that pertain to the Holders as a “Selling Stockholder”
or to the “Plan of Distribution” and all written responses thereto, but not information that the Company believes would
constitute material and non-public information); and (C) with respect to each Registration Statement or any post-effective amendment
thereto, when the same has become effective; (ii) of any request by the Commission or any other Federal or state governmental authority
for amendments or supplements to a Registration Statement or Prospectus or for additional information that pertains to the Holders
as “Selling Stockholders” or the “Plan of Distribution”; (iii) of the issuance by the Commission or any
other Federal or state governmental authority of any stop order suspending the effectiveness of a Registration Statement covering
any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) of the receipt by the Company
of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable
Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; (v) of the occurrence
of any event or passage of time that makes the financial statements included in a Registration Statement ineligible for inclusion
therein or any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated
therein by reference untrue in any material respect or that requires any revisions to such Registration Statement, Prospectus or
other documents so that, in the case of such Registration Statement or the Prospectus, as the case may be, it will not contain
any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus, form of prospectus or supplement thereto, in light of the circumstances under
which they were made), not misleading; and (vi) of the occurrence or existence of, or in anticipation of, any acquisition, financing
activity, regulatory developments or other material transaction involving the Company, or any other event or condition of similar
significance to the Company, for which allowing the continued availability of a Registration Statement or Prospectus would be,
in the good faith determination of the Board of Directors, materially detrimental to the Company, provided that, any and
all such information shall remain confidential to each Holder until such information otherwise becomes public, unless disclosure
by a Holder is required by law; and provided further, that notwithstanding each Holder’s agreement to keep such information
confidential, each such Holder makes no acknowledgement that any such information is material, non-public information.

 

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(d)          Use
commercially reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order suspending the
effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any
of the Registrable Securities for sale in any jurisdiction, as soon as practicable.

 

(e)          If
requested by a Holder, furnish to such Holder, without charge, at least one conformed copy of each Registration Statement and each
amendment thereto and all exhibits to the extent requested by such Person (including those previously furnished or incorporated
by reference) promptly after the filing of such documents with the Commission; provided, that the Company shall have no
obligation to provide any document pursuant to this clause that is available on the Commission’s EDGAR system.

 

(f)           Prior
to any resale of Registrable Securities by a Holder, use its commercially reasonable efforts to register or qualify or cooperate
with the selling Holders in connection with the registration or qualification (or exemption from the registration or qualification)
of such Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such jurisdictions within
the United States as any Holder reasonably requests in writing, to keep each registration or qualification (or exemption therefrom)
effective during the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition
in such jurisdictions of the Registrable Securities covered by each Registration Statement; provided, that the Company shall
not be required to qualify generally to do business in any jurisdiction where it is not then so qualified, would subject the Company
to any material tax in any such jurisdiction where it is not then so subject or file a general consent to service of process in
any such jurisdiction.

 

(g)          If
requested by a Holder, cooperate with such Holder to facilitate the timely preparation and delivery of certificates or book-entry
statements representing Registrable Securities to be delivered to a transferee pursuant to the Registration Statement, which certificates
or book entry statements shall be free, to the extent permitted by the Purchase Agreement, and under law, of all restrictive legends,
and to enable such Registrable Securities to be in such denominations and registered in such names as any such Holders may reasonably
request.

 

(h)          Following
the occurrence of any event contemplated by Section 3(c), as promptly as reasonably practicable (taking into account the
Company’s good faith assessment of any adverse consequences to the Company and its stockholders of the premature disclosure
of such event), prepare a supplement or amendment, including a post-effective amendment, to the affected Registration Statements
or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file
any other required document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain an untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein (in the case of any Prospectus, form of prospectus or supplement thereto, in light of the circumstances under which they
were made), not misleading. If the Company notifies the Holders in accordance with clauses (iii) through (vi) of Section 3(c)
above to suspend the use of any Prospectus until the requisite changes to such Prospectus have been made, then the Holders shall
suspend use of such Prospectus. The Company will use its commercially reasonable efforts to ensure that the use of the Prospectus
may be resumed as promptly as is practicable. The Company shall be entitled to exercise its right under this Section 3(h)
to suspend the availability of a Registration Statement and Prospectus for a period not to exceed 45 calendar days (which need
not be consecutive days) in any 12-month period without incurring liability for Liquidated Damages otherwise required pursuant
to Section 2(c).

 

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(i)            The
Company may require each selling Holder to furnish to the Company a certified statement as to (i) the number of shares of Common
Stock beneficially owned by such Holder and any Affiliate thereof, (ii) any Financial Industry Regulatory Authority, Inc. (“FINRA”)
affiliations, (iii) any natural persons who have the power to vote or dispose of the common stock and (iv) any other information
as may be requested by the Commission, FINRA or any state securities commission. During any periods that the Company is unable
to meet its obligations hereunder with respect to the registration of Registrable Securities because any Holder fails to furnish
such information within three Trading 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; provided, however, if the failure of the
Holder to furnish the required information results the occurrence of an Event under 2(c), any Liquidated Damages that are accruing
at such time shall be tolled and any such Event that occurs as a result thereof shall be suspended until such time as the Holder
furnishes such information.

 

(j)            The
Company shall cooperate with any registered broker through which a Holder proposes to resell its Registrable Securities in effecting
a filing with FINRA pursuant to FINRA Rule 5110 as reasonably requested by any such Holder, and the Company shall pay the filing
fee required for the first such filing within five Business Days of the request therefor.

 

(k)           Cause
all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are
then listed.

 

4.             Registration
Expenses. All fees and expenses incident to the Company’s performance of or compliance with its obligations under this
Agreement (excluding any underwriting discounts and selling commissions and all legal fees and expenses of legal counsel for any
Holder) shall be borne by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement.
The fees and expenses referred to in the foregoing sentence shall include, without limitation, (i) all registration and filing
fees (including, without limitation, fees and expenses (A) with respect to filings required to be made with any Trading Market
on which the Common Stock is then listed for trading, (B) with respect to compliance with applicable state securities or Blue Sky
laws (including, without limitation, fees and disbursements of counsel for the Company in connection with Blue Sky qualifications
or exemptions of the Registrable Securities and determination of the eligibility of the Registrable Securities for investment under
the laws of such jurisdictions as requested by the Holders, but not including any jurisdictions outside the United States) and
(C) if not previously paid by the Company pursuant to Section 3(j) hereof, with respect to any filing that may be required to be
made by any broker through which a Holder intends to make sales of Registrable Securities with FINRA pursuant to FINRA Rule 5110),
(ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities and of printing
prospectuses if the printing of prospectuses is reasonably requested by the Holders of a majority of the Registrable Securities
included in the Registration Statement), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel
for the Company, (v) Securities Act liability insurance, if the Company so desires such insurance, and (vi) fees and expenses of
all other Persons retained by the Company in connection with the consummation of the transactions contemplated by this Agreement.
In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the consummation of
the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees
performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the
listing of the Registrable Securities on any securities exchange as required hereunder. In no event shall the Company be responsible
for any underwriting, broker or similar fees or commissions of any Holder or any legal fees or other costs of the Holders.

 

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5.            Indemnification.

 

(a)           Indemnification
by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless each Holder,
the officers, directors, agents, partners, members, managers, stockholders, Affiliates and employees of each of them, each Person
who controls any such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the
officers, directors, partners, members, managers, stockholders, agents and employees of each such controlling Person, to the fullest
extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, amounts paid in settlement
in accordance with Section 5(c) hereof, costs (including, without limitation, reasonable costs of preparation and investigation
and reasonable attorneys’ fees) and expenses (collectively, “Losses”), as incurred, that arise
out of or are based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement,
any Prospectus or in any amendment or supplement thereto (it being understood that the Holder has approved Annex A hereto
for this purpose), or arising out of or relating to any omission or alleged omission to state a material fact required to be stated
therein or necessary to make the statements therein (in the case of any Prospectus or supplement thereto, in light of the circumstances
under which they were made) not misleading or (ii) any violation or alleged violation by the Company of the Securities Act, the
Exchange Act or any state securities law, or any rule or regulation thereunder relating to the offer or sale of the Registrable
Securities pursuant to the Registration Statement, except to the extent, but only to the extent that (A) such untrue statements,
alleged untrue statements, omissions or alleged omissions are based solely upon information regarding such Holder furnished in
writing to the Company by such Holder, or to the extent that such information relates to such Holder or such Holder’s proposed
method of distribution of Registrable Securities and was reviewed and approved in writing by such Holder expressly for use in the
Registration Statement, such Prospectus or in any amendment or supplement thereto (it being understood that each Holder has approved
Annex A hereto for this purpose); provided, that such untrue statement or alleged untrue statement or omission or alleged
omission had not been corrected in such Prospectus or in any amendment or supplement thereto prior to, or concurrently with, the
sale of Registrable Securities to the person asserting the applicable indemnification claim, or (B) in the case of an occurrence
of an event of the type specified in Section 3(c)(iii)-(vi), related to the use by a Holder of an outdated or defective
Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior to the
receipt by such Holder of the Advice contemplated and defined in Section 6(d) below, following the receipt of the Advice
the misstatement or omission giving rise to such Loss would have been corrected, or (C) any such Losses arise out of the Purchaser’s
(or any other indemnified Person’s) failure to send or give a copy of the Prospectus or supplement (as then amended or supplemented),
if required pursuant to Rule 172 under the Securities Act (or any successor rule), to the Persons asserting an untrue statement
or alleged untrue statement or alleged untrue statement or omission or alleged omission at or prior to the written confirmation
of the sale of Registrable Securities to such Person if such statement or omission was corrected in such Prospectus or supplement.
The Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding arising from or in connection
with the transactions contemplated by this Agreement of which the Company is aware. Such indemnity shall remain in full force and
effect regardless of any investigation made by or on behalf of an Indemnified Party (as defined in Section 5(c)) and shall
survive the transfer of the Registrable Securities by the Holders.

 

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(b)          Indemnification
by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors, officers,
agents, stockholders, Affiliates and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities
Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons, to the fullest
extent permitted by applicable law, from and against all Losses, as incurred, arising out of or are based solely upon any untrue
or alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus, or in any amendment or
supplement thereto, or arising out of or relating to any omission or alleged omission of a material fact required to be stated
therein or necessary to make the statements therein (in the case of any Prospectus, or supplement thereto, in light of the circumstances
under which they were made) not misleading (i) to the extent, but only to the extent, that such untrue statements or omissions
are based upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein and
such untrue statement or alleged untrue statement or omission or alleged omission had not been corrected in such Prospectus or
in any amendment or supplement thereto prior to, or concurrently with, the sale of Registrable Securities to the person asserting
the applicable indemnification claim, or (ii) to the extent that such information relates to such Holder or such Holder’s
proposed method of distribution of Registrable Securities and was reviewed and approved in writing by such Holder expressly for
use in a Registration Statement (it being understood that the Holder has approved Annex A hereto for this purpose), such
Prospectus or in any amendment or supplement thereto or (iii) in the case of an occurrence of an event of the type specified in
Section 3(c)(iii)-(vi), to the extent, but only to the extent, related to the use by such Holder of an outdated or
defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior
to the receipt by such Holder of the Advice contemplated in Section 6(d). In no event shall the liability of any selling
Holder hereunder (together with any liability under Section 5(d)) be greater in amount than the dollar amount of the net
proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation.

 

(c)          Conduct
of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity hereunder
(an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity
is sought (the “Indemnifying Party”) in writing, and the Indemnifying Party shall have the right to assume
the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all
reasonable fees and expenses incurred in connection with defense thereof, provided, that the failure of any Indemnified
Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement,
except (and only) to the extent that it shall be finally determined by a court of competent jurisdiction (which determination is
not subject to appeal or further review) that such failure shall have materially and adversely prejudiced the Indemnifying Party.

 

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An Indemnified Party
shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the fees
and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (i) the Indemnifying Party has
agreed in writing to pay such fees and expenses; (ii) the Indemnifying Party shall have failed promptly to assume the defense of
such Proceeding or the Indemnifying Party does not, upon assuming the defense of such Proceeding, conduct the defense of such claim
actively and diligently; (iii) the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified
Party and the Indemnifying Party, and such Indemnified Party shall have been advised by counsel that a conflict of interest exists
if the same counsel were to represent such Indemnified Party and the Indemnifying Party; (iv) the claim is based upon any Proceeding,
indictment, allegation or investigation of a criminal nature; or (v) the claim seeks an injunction or non-monetary or equitable
relief against the Indemnified Party, other than any such claim that is incidental to the primary claim or claims and not material
(in the case of clauses (ii)-(v), if such Indemnified Party notifies the Indemnifying Party in writing that it elects to employ
separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense
thereof and such counsel shall be at the expense of the Indemnifying Party); provided, that the Indemnifying Party shall
not be liable for the fees and expenses of more than one separate firm of attorneys at any time for all Indemnified Parties. The
Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its prior written consent, which
consent shall not be unreasonably withheld, delayed or conditioned. No Indemnifying Party shall, without the prior written consent
of the Indemnified Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party,
unless such settlement includes an unconditional release of such Indemnified Party from all liability on claims that are the subject
matter of such Proceeding and such settlement does not require any Indemnified Party to perform any covenant or refrain from engaging
in any activity or include any non-monetary limitation on the actions of any Indemnified Party or any of its affiliates or any
admission of fault, violation, culpability, malfeasance or nonfeasance by, or on behalf of, or liability on behalf of, any such
Indemnified Party.

 

Subject to the terms
of this Agreement, all fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred
in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section 5) shall
be paid to the Indemnified Party, as incurred, within 20 Trading Days of written notice thereof to the Indemnifying Party; provided,
that the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and expenses applicable
to such actions for which such Indemnified Party is finally judicially determined to not be entitled to indemnification hereunder.
The failure to deliver written notice to the Indemnifying Party within a reasonable time of the commencement of any such action
shall not relieve such Indemnifying Party of any liability to the Indemnified Party under this Section 5, except to the extent
that the Indemnifying Party is materially and adversely prejudiced in its ability to defend such action.

 

(d)          Contribution.
If a claim for indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party or insufficient
to hold an Indemnified Party harmless for any Losses, 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 fault 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
or alleged untrue statement of a material fact or omission or alleged 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 this Agreement, 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 5 was available
to such party in accordance with its terms.

 

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The parties hereto agree
that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation
or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately
preceding paragraph. Notwithstanding the provisions of this Section 5(d), (A) no Holder shall be required to contribute,
in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Holder from the sale of
the Registrable Securities subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise been required
to pay by reason of such untrue or alleged untrue statement or omission or alleged omission, including pursuant to Section 5(b)
above, and (B) no contribution will be made under circumstances where the maker of such contribution would not have been required
to indemnify the Indemnified Party under the fault standards set forth in this Section 5. 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.

 

6.            Rule
144 Compliance. With a view to making available to the Holders the benefits of Rule 144 under the Securities Act and any other
rule or regulation of the Commission that may at any time permit a Holder to sell securities of the Company to the public without
registration, the Company shall:

 

(i)       use
commercially reasonable efforts to make and keep public information available, as those terms are understood and defined in Rule
144 under the Securities Act;

 

(ii)      use
commercially reasonable efforts to file with the Commission in a timely manner all reports and other documents required of the
Company under the Exchange Act, at any time when the Company is subject to such reporting requirements; and

 

(iii)     furnish
to any Holder, promptly upon request, a written statement by the Company as to its compliance with the reporting requirements of
Rule 144 under the Securities Act and of the Exchange Act, a copy of the most recent annual or quarterly report of the Company,
and such other reports and documents so filed or furnished by the Company with the Commission as such Holder may reasonably request
in connection with the sale of Registrable Securities without registration (in each case to the extent not readily publicly available).

 

7.            Miscellaneous.

 

(a)          Remedies.
The Company and each Holder agree that monetary damages may 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, subject to the limitations set forth
elsewhere in this Agreement, in the event of a breach by the Company or by a Holder of any of their obligations under this Agreement,
each 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, may be entitled to specific performance of its rights under this Agreement.

 

(b)          Compliance.
Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable
to it (unless an exemption therefrom is available) in connection with sales of Registrable Securities pursuant to the Registration
Statement, and shall sell the Registrable Securities only in accordance with a method of distribution described in the Registration
Statement

 

(c)          Discontinued
Disposition. By its acquisition of Registrable Securities, the Holder agrees that, upon receipt of a notice from the Company
of the occurrence of any event of the kind described in Section 3(c)(iii)-(vi), such Holder will forthwith discontinue
disposition of such Registrable Securities under a Registration Statement until it is advised in writing (the “Advice”)
by the Company that the use of the applicable Prospectus (as it may have been supplemented or amended) may be resumed. The Company
will use its commercially reasonable efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable.
The Company may provide appropriate stop orders to enforce the provisions of this paragraph.

 

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(d)          No
Inconsistent Agreements. The Company has not entered, as of the date hereof, nor shall the Company, on or after the date hereof,
enter into any agreement with respect to its securities, that would have the effect of impairing the rights granted to the Holders
in this Agreement or otherwise conflicts with the provisions hereof.

 

(e)          Amendments
and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented,
or waived unless the same shall be in writing and signed by the Company and Holders holding no less that a majority of the then
outstanding Registrable Securities or, if such amendment, modification or supplement shall affect a Holder in a manner disproportionate
from other Holders then the signature of such Holder shall be required, provided that any party may give a waiver as to
itself. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates
exclusively to the rights of Holders and that does not directly or indirectly affect the rights of other Holders may be given by
Holders of all of the Registrable Securities to which such waiver or consent relates; provided, however, that the
provisions of this sentence may not be amended, modified, or supplemented except in accordance with the provisions of the immediately
preceding sentence.

 

(f)           Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be delivered as
set forth in the Purchase Agreement.

 

(g)          Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each
of the parties and shall inure to the benefit of each Holder. Nothing in this Agreement, express or implied, is intended to confer
upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities
under or by reason of this Agreement, except as expressly provided in this Agreement. The Company may not assign its rights (except
by merger or in connection with another entity acquiring all or substantially all of the Company’s assets) or obligations
hereunder without the prior written consent of all the Holders of the then outstanding Registrable Securities. Each Holder may
assign its respective rights hereunder in the manner and to the Persons as permitted under the Purchase Agreement provided
in each case that (i) the Holder agrees in writing with the transferee or assignee to assign such rights and related obligations
under this Agreement, and for the transferee or assignee to assume such obligations, and a copy of such agreement is furnished
to the Company within a reasonable time after such assignment, (ii) the Company is, within a reasonable time after such transfer
or assignment, furnished with written notice of the name and address of such transferee or assignee and the securities with respect
to which such registration rights are being transferred or assigned, (iii) at or before the time the Company received the written
notice contemplated by clause (ii) of this sentence, the transferee or assignee agrees in writing with the Company to be bound
by all of the provisions contained herein and (iv) the transferee is an “accredited investor,” as that term is defined
in Rule 501 of Regulation D.

 

(h)       Execution
and Counterparts. This Agreement may be executed in two or more counterparts, each of which when so executed shall be deemed
to be an original and, all of which taken together shall constitute one and the same Agreement and shall become effective when
counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign
the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf”
format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such facsimile or “.pdf” signature were the original thereof.

 

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(i)       Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined
in accordance with the provisions of the Purchase Agreement.

 

(j)       Cumulative
Remedies. Except as provided herein, the remedies provided herein are cumulative and not exclusive of any other remedies provided
by law.

 

(k)       Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their good faith reasonable
efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such
term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would
have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared
invalid, illegal, void or unenforceable.

 

(l)       Headings.
The headings in this Agreement are for convenience only and shall not limit or otherwise affect the meaning hereof.

 

[Remainder of Page
Intentionally Left Blank; Signature Page Follows]

 

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IN WITNESS WHEREOF,
the parties have executed this Registration Rights Agreement as of the date first written above.

 

	 	CORINDUS VASCULAR
ROBOTICS, INC.
	 	 	 
	 	By:	 
	 	Name: 	 
	 	Title:	 

  

[Signature Page to
Registration Rights Agreement]

 

    

     

    

 

IN WITNESS WHEREOF, the
parties have executed this Registration Rights Agreement as of the date first written above. 

 

	 	HOLDER:	 
	 	 	 
	 	AUTHORIZED SIGNATORY

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	ADDRESS FOR NOTICE
	 	 	 
	 	c/o:	 

 

	 	Street:	 

 

	 	City/State/Zip:	 

 

	 	Attention:	 

 

	 	Tel:	 

 

	 	Fax:	 

 

	 	Email:	 

 

    

     

    

 

 

Annex A

 

PLAN OF DISTRIBUTION

 

The selling stockholders
and any of their pledgees, donees, transferees, assignees or other successors-in-interest may, from time to time, sell, transfer
or otherwise dispose of any or all of their shares of common stock or interests in shares of common stock on any stock exchange,
market or trading facility on which the shares are traded or in private transactions. These dispositions may be at fixed prices,
at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined
at the time of sale, or at negotiated prices. The selling stockholders may use one or more of the following methods when disposing
of the shares or interests therein:

 

		●	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

 

		●	block trades in which the broker-dealer will attempt to sell the shares as agent but may position
and resell a portion of the block as principal to facilitate the transaction;

 

		●	through brokers, dealers or underwriters that may act solely as agents;

 

		●	purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

 

		●	an exchange distribution in accordance with the rules of the applicable exchange;

 

		●	privately negotiated transactions;

 

		●	through the writing or settlement of options or other hedging transactions entered into after the
effective date of the registration statement of which this prospectus is a part, whether through an options exchange or otherwise;

 

		●	broker-dealers may agree with the selling stockholder to sell a specified number of such shares
at a stipulated price per share;

 

		●	one or more underwritten offerings on a firm commitment or best efforts basis;

 

		●	·a combination of any such methods of disposition; and

 

		●	any other method permitted pursuant to applicable law.

 

The selling stockholders
may also sell shares under Rule 144 under the Securities Act of 1933, as amended, or Securities Act, if available, rather than
under this prospectus.

 

Broker-dealers engaged
by the selling stockholders may arrange for other broker-dealers to participate in sales. Broker-dealers may receive commissions
or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser)
in amounts to be negotiated. The selling stockholders do not expect these commissions and discounts to exceed what is customary
in the types of transactions involved.

 

     

     

    

 

The selling stockholders
may from time to time pledge or grant a security interest in some or all of the shares of common stock owned by them and, if they
default in the performance of their secured obligations, the pledgees or secured parties may offer and sell shares of common stock
from time to time under this prospectus, or under a supplement or amendment to this prospectus under Rule 424(b)(3) or other applicable
provision of the Securities Act amending the list of selling stockholders to include the pledgee, transferee or other successors
in interest as selling stockholders under this prospectus.

 

Upon being notified
in writing by a selling stockholder that any material arrangement has been entered into with a broker-dealer for the sale of common
stock through a block trade, special offering, exchange distribution or secondary distribution or a purchase by a broker or dealer,
we will file a supplement to this prospectus, if required, pursuant to Rule 424(b) under the Securities Act, disclosing (i) the
name of such selling stockholder and of the participating broker-dealer(s), (ii) the number of shares involved, (iii) the price
at which such shares of common stock were sold, (iv) the commissions paid or discounts or concessions allowed to such broker-dealer(s),
where applicable, (v) that such broker-dealer(s) did not conduct any investigation to verify the information set out or incorporated
by reference in this prospectus, and (vi) other facts material to the transaction. In addition, upon being notified in writing
by the selling stockholder that a donee or pledge intends to sell more than 500 shares of common stock, we will file a supplement
to this prospectus if then required in accordance with applicable securities law.

 

The selling stockholders
also may transfer the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors
in interest will be the selling beneficial owners for purposes of this prospectus.

 

In connection with
the sale of the shares of common stock or interests in shares of common stock, the selling stockholders may enter into hedging
transactions after the effective date of the registration statement of which this prospectus is a part with broker-dealers or other
financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions they
assume. The selling stockholders may also sell shares of common stock short after the effective date of the registration statement
of which this prospectus is a part and deliver these securities to close out their short positions, or loan or pledge the common
stock to broker-dealers that in turn may sell these securities. The selling stockholders may also enter into option or other transactions
after the effective date of the registration statement of which this prospectus is a part with broker-dealers or other financial
institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial
institution of shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant
to this prospectus (as supplemented or amended to reflect such transaction).

 

The selling stockholders
and any broker-dealers or agents that are involved in selling the shares may be deemed to be “underwriters” within
the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act.

 

We have advised the
selling stockholders that they are required to comply with Regulation M promulgated under the Securities Exchange Act during such
time as it may be engaged in a distribution of the shares. The foregoing may affect the marketability of the common stock.

 

     

     

    

 

The aggregate proceeds
to the selling stockholders from the sale of the common stock offered by them will be the purchase price of the common stock less
discounts or commissions, if any. The selling stockholders reserve the right to accept and, together with their agents from time
to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly or through agents. We will not
receive any of the proceeds from this offering.

 

We are required to
pay all fees and expenses incident to the registration of the shares. We have agreed to indemnify the selling stockholders against
certain losses, claims, damages and liabilities, including liabilities under the Securities Act or otherwise.

 

We have agreed with
the selling stockholders to keep the registration statement of which this prospectus constitutes a part effective until the earlier
of (a) such time as all of the shares covered by this prospectus have been disposed of pursuant to and in accordance with the registration
statement, and (b) the date on which the shares of common stock covered by this prospectus may be sold by non-affiliates without
any volume or manner of sale restrictions or current public information pursuant to Rule 144 of the Securities Act.

 

     

     

    

 

Annex B

 

CORINDUS VASCULAR ROBOTICS, INC.

 

SELLING STOCKHOLDER NOTICE AND QUESTIONNAIRE

 

The undersigned holder
of shares of the common stock, par value $0.0001 per share, of Corindus Vascular Robotics, Inc. (the “Company”)
understands that the Company intends to file with the Securities and Exchange Commission a registration statement on Form S-3,
or if Form S-3 is not available, Form S-1 (the “Resale Registration Statement”) for the registration
and the resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of the
Registrable Securities in accordance with the terms of the Registration Rights Agreement. All capitalized terms not otherwise defined
herein shall have the meanings ascribed thereto in the Registration Rights Agreement.

 

In order to sell or
otherwise dispose of any Registrable Securities pursuant to the Resale Registration Statement, a holder of Registrable Securities
generally will be required to be named as a selling stockholder in the related prospectus or a supplement thereto (as so supplemented,
the “Prospectus”), deliver the Prospectus to purchasers of Registrable Securities (including pursuant
to Rule 172 under the Securities Act) and be bound by the provisions of the Registration Rights Agreement (including certain indemnification
provisions, as described below). Holders must complete and deliver this Notice and Questionnaire in order to be named as selling
stockholders in the Prospectus.

 

Certain legal consequences
arise from being named as a selling stockholder in the Resale Registration Statement and the Prospectus. Holders of Registrable
Securities are advised to consult their own securities law counsel regarding the consequences of being named or not named as a
selling stockholder in the Resale Registration Statement and the Prospectus.

 

NOTICE

 

The undersigned holder
(the “Selling Stockholder”) of Registrable Securities hereby gives notice to the Company of its intention
to sell or otherwise dispose of Registrable Securities owned by it and listed below in Item (3), unless otherwise specified in
Item (3), pursuant to the Resale Registration Statement. The undersigned, by signing and returning this Notice and Questionnaire,
understands and agrees that it will be bound by the terms and conditions of this Notice and Questionnaire and the Registration
Rights Agreement.

 

The undersigned hereby
provides the following information to the Company and represents and warrants that such information is accurate and complete:

 

QUESTIONNAIRE

 

		1.	Name.

 

		(a)	Full Legal Name of Selling Stockholder:

 

 

 

		(b)	Full Legal Name of Registered Holder (if not the same as (a) above) through which Registrable Securities
Listed in Item 3 below are held:

 

 

 

     

     

    

 

		(c)	Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly
alone or with others has power to vote or dispose of the securities covered by the questionnaire):

 

 

 

		2.	Address for Notices to Selling Stockholder:

	 
	 
	 

	Telephone:	 

	Fax:	 

	Contact Person:	 

	E-mail address of Contact Person:	 

 

		3.	Beneficial Ownership of Registrable Securities:

 

		(a)	Type and Number of Registrable Securities beneficially owned:

 

 

 

 

 

 

 

		(b)	Number of shares of Common Stock to be registered pursuant to this Notice for resale:

 

 

 

 

 

 

 

		4.	Broker-Dealer Status:

 

		(a)	Are you a broker-dealer?

 

Yes ☐    No ☐

 

		(b)	If “yes” to Section 4(a), did you receive your Registrable Securities as compensation
for investment banking services to the Company?

 

Yes ☐    No ☐

 

		Note:	If no, the Commission’s staff has indicated that you should be identified as an underwriter
in the Registration Statement.

 

		(c)	Are you an affiliate of a broker-dealer?

 

Yes ☐    No ☐

 

		Note:	If yes, provide a narrative explanation below:

 

     

     

    

 

 

 

 

 

		(d)	If you are an affiliate of a broker-dealer, do you certify that you bought the Registrable Securities
in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements
or understandings, directly or indirectly, with any person to distribute the Registrable Securities?

 

Yes ☐    No ☐

 

		Note:	If no, the Commission’s staff has indicated that you should be identified as an underwriter
in the Registration Statement.

 

		5.	Beneficial Ownership of Other Securities of the Company Owned by the Selling Stockholder.

 

Except as set forth below
in this Item 5, the undersigned is not the beneficial or registered owner of any securities of the Company other than the Registrable
Securities listed above in Item 3.

 

Type and
amount of other securities beneficially owned:

 

 

 

 

 

 

 

 

 

 

		6.	Relationships with the Company:

 

Except as set forth below,
neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the
equity securities of the undersigned) has held any position or office or has had any other material relationship with the Company
(or its predecessors or affiliates) during the past three years.

 

State any
exceptions here:

 

 

 

 

 

 

 

 

 

		7.	Plan of Distribution:

 

The undersigned has reviewed
the form of Plan of Distribution attached as Annex A to the Registration Rights Agreement, and hereby confirms that, except as
set forth below, the information contained therein regarding the undersigned and its plan of distribution is correct and complete.

 

State any
exceptions here:

 

 

 

 

 

     

     

    

 

The undersigned agrees to promptly notify
the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the date hereof and
prior to the effective date of any applicable Resale Registration Statement. All notices hereunder and pursuant to the Registration
Rights Agreement shall be made in writing, by hand delivery, confirmed or facsimile transmission, first-class mail or air courier
guaranteeing overnight delivery at the address set forth below. In the absence of any such notification, the Company shall be entitled
to continue to rely on the accuracy of the information in this Notice and Questionnaire.

 

By signing below, the undersigned consents
to the disclosure of the information contained herein in its answers to Items (1) through (7) above and the inclusion of such information
in the Resale Registration Statement and the Prospectus. The undersigned understands that such information will be relied upon
by the Company in connection with the preparation or amendment of any such Registration Statement and the Prospectus.

 

By signing below, the undersigned acknowledges
that it understands its obligation to comply, and agrees that it will comply, with the provisions of the Exchange Act and the rules
and regulations thereunder, particularly Regulation M in connection with any offering of Registrable Securities pursuant to the
Resale Registration Statement. The undersigned also acknowledges that it understands that the answers to this Questionnaire are
furnished for use in connection with Registration Statements filed pursuant to the Registration Rights Agreement and any amendments
or supplements thereto filed with the Commission pursuant to the Securities Act.

 

The undersigned hereby acknowledges and is advised of the following
Interpretation A.65 of the July 1997 SEC Manual of Publicly Available Telephone Interpretations regarding short selling:

 

“An Issuer filed a Form S-3 registration statement
for a secondary offering of common stock which is not yet effective. One of the selling stockholders wanted to do a short sale
of common stock “against the box” and cover the short sale with registered shares after the effective date. The issuer
was advised that the short sale could not be made before the registration statement become effective, because the shares underlying
the short sale are deemed to be sold at the time such sale is made. There would, therefore, be a violation of Section 5 if the
shares were effectively sold prior to the effective date.”

 

By returning this Questionnaire, the undersigned
will be deemed to be aware of the foregoing interpretation.

 

I confirm that, to the best of my knowledge
and belief, the foregoing statements (including, without limitation the answers to this Questionnaire) are correct.

 

     

     

    

 

Annex B

 

IN WITNESS WHEREOF
the undersigned, by authority duly given, has caused this Questionnaire to be executed and delivered either in person or by its
duly authorized agent.

 

	Dated:	 	 	Beneficial Owner:  	 

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature
Page to Selling Stockholder Notice and Questionnaire]Exhibit

        

Exhibit 10.39

EMPLOYMENT AGREEMENT
(Lynn S. Schweinfurth)
This EMPLOYMENT AGREEMENT (this “Agreement”) is made as of this 31st day of December, 2018, by and between RED ROBIN GOURMET BURGERS, INC., a Delaware corporation (the “Company”), and Lynn S. Schweinfurth (“Executive”).
RECITAL
WHEREAS, the parties desire to enter into this Agreement setting forth the terms and conditions for the employment relationship between Executive and the Company. 
NOW, THEREFORE, in consideration of the promises and mutual covenants and agreements herein contained and intending to be legally bound hereby, the Company and Executive hereby agree as follows:
AGREEMENT
1.Employment Period. The Company, through its wholly-owned subsidiary, Red Robin International, Inc., a Nevada corporation (“RRI”), hereby employs Executive, and Executive hereby accepts such employment, upon the terms and conditions hereinafter set forth. The term of Executive’s employment hereunder shall be deemed to have commenced on January 28, 2019 (the “Effective Date”), and shall continue indefinitely, subject to termination as provided herein (such term being referred to herein as the “Employment Period”). Executive and the Company acknowledge that, except as may otherwise be provided by this Agreement or under any other written agreement between Executive and the Company, the employment of Executive by the Company and RRI is “at will” and Executive’s employment may be terminated by either Executive or the Company at any time for any reason, or no reason. RRI shall be the “employer” for tax, legal reporting, payroll processing and similar purposes.
2.    Position and Duties.
(a)    During the Employment Period, Executive shall be employed as and hold the title of Executive Vice President and Chief Financial Officer of the Company (“Chief Financial Officer”), with such duties and responsibilities that are customary for public company chief financial officer positions. Executive shall report to the Chief Executive Officer and President and shall interface with the Company’s Board of Directors and the committees of the Board of Directors and their respective chairpersons from time to time (collectively, the “Board”). In addition, the Chief Executive Officer and President may assign Executive such duties and responsibilities that are not substantially inconsistent with her position as the Chief Financial Officer of the Company.
(b)    During the Employment Period, Executive shall devote substantially all of her skill, knowledge and working time to the business and affairs of the Company and its subsidiaries; provided that in no event shall this sentence prohibit Executive from performing personal and charitable activities and any other activities approved in advance by the Board, so long as such activities do not materially and adversely interfere with Executive’s duties for the Company and are in compliance with the Company’s policies. Executive shall primarily perform her services at the Company’s headquarters, presently located in Greenwood Village, Colorado. Executive shall use her best efforts to carry out her responsibilities under this Agreement faithfully and efficiently.
3.    Compensation.
(a)    Base Salary. During the Employment Period, Executive shall receive from the Company an annual base salary (“Annual Base Salary”) at the rate of $450,000, with such salary to be adjusted at such times, if any, and in such amounts as recommended by the Chief Executive Officer and President and approved by the Compensation Committee of the Board (the “Compensation Committee”). Executive’s Annual Base Salary shall be subject to annual review by the Chief Executive Officer and President and the Compensation Committee during the Employment Term. The Company shall pay the Annual Base Salary to Executive in accordance with the Company’s and RRI’s normal payroll policy.
(b)    Sign-On Bonus. The Company agrees to pay Executive a one-time cash sign-on bonus of $100,000 (the “Sign-On Bonus”), subject to all required taxes and withholdings, to be paid within twenty-one (21) days following 

1

the Effective Date. If Executive’s employment with the Company is terminated (i) by the Company with Cause or (ii) as a result of Executive’s Resignation without Good Reason, in either case, less than twenty-four (24) full months after the Effective Date, Executive agrees to repay the full amount of the Sign-On Bonus, less one twenty-fourth (1/24th) of the Sign-On Bonus (i.e., $4,166.67) for each full month of employment completed after the Effective Date. Executive further agrees that Executive will repay the Sign-On Bonus by no later than the effective date of the employment termination, and that any outstanding balance on such repayment obligation is delinquent and immediately collectable the day following the effective date of termination. 
(c)    Annual Incentive Compensation. In addition to the Annual Base Salary, Executive is eligible to receive an annual cash bonus each fiscal year during the Employment Period as determined in accordance with the Company’s annual incentive plan as in effect from time to time and as approved by the Compensation Committee (the “Annual Bonus”). For the 2019 fiscal year, the Annual Bonus shall be targeted at seventy percent (70%) of Executive’s Annual Base Salary. Such target will be subject to adjustment by the Compensation Committee in fiscal year 2020 and later. The actual amount of any Annual Bonus shall depend on the level of achievement of the applicable performance criteria established with respect to the Annual Bonus by the Board and the Compensation Committee in their sole discretion; provided that the actual amount of Executive’s Annual Bonus in respect of the Company’s 2019 fiscal year will not be less than $211,000, payable in the ordinary course in 2020. There shall be no Annual Bonus in respect of fiscal year 2018.
(d)    Long-Term Incentive Awards.
(i)    Sign-On Equity Awards. Executive will receive equity awards pursuant to the Company’s 2017 Performance Incentive Plan (as amended from time to time, the “2017 Plan”) as follows (the “Sign-On Equity Awards”) seven (7) calendar days after the Effective Date (or, if such day is not a business day, on the following business day) pursuant to and in accordance with the Company’s Equity Granting Policy: (A) time-vested restricted stock units (“RSUs”) having a grant date fair value of $115,000, of which thirty-three and one third percent (33 1/3%) shall vest on each of the first, second, and third anniversaries of the date of grant, subject to continued employment through each such vesting date; and (B) time-vested RSUs having a grant date fair value of $185,000, one hundred percent (100%) of which shall cliff vest on the third anniversary of the date of the grant, subject to continued employment through such vesting date. The Sign-On Equity Awards shall be subject to the terms and conditions set forth in the Company’s standard award agreement for the applicable type of award and shall be subject to the terms of the 2017 Plan.
(ii)    Beginning in fiscal year 2019, Executive shall have the opportunity to participate in the Company’s long-term incentive plan (“LTIP”).  Executive’s fiscal year 2019 awards will have a target value equal to one hundred and twenty percent (120%) of Annual Base Salary, (x) thirty three percent (33%) of which shall be awarded seven (7) calendar days after the Effective Date (or, if such day is not a business day, on the following business day) in the form of RSUs, of which twenty-five percent (25%) shall vest on each of the first, second, third and fourth anniversaries of the date of grant, subject to continued employment through each such vesting date and (y) sixty-seven percent (67%) of which shall be awarded during the first quarter of fiscal 2019 in the form of performance share units and will cliff vest at the end of the three-year performance cycle, generally subject to Executive’s continued employment through the applicable vesting date and achievement of the applicable performance objectives as determined by the Compensation Committee from time to time; except as expressly provided herein, each such equity award shall be made in accordance with the Company’s Equity Granting Policy. Executive’s target value will be subject to adjustment by the Compensation Committee in fiscal year 2020 and later. During the Employment Period, Executive shall be entitled to participate in such annual long-term incentive awards as may be approved by the Board or the Compensation Committee from time to time in accordance with the Company’s compensation plans.
(e)    Other Benefits.
(i)    Welfare and Benefit Plans. During the Employment Period: (A) Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs of the Company and RRI to the same extent as other senior executive employees, including, among other things, participation in the Company’s Non-Qualified Deferred Compensation Plan; and (B) Executive and/or Executive’s family, as the case may be, shall be eligible to participate in, and shall receive all benefits under, all welfare benefit plans, practices, policies and programs 

2

provided by the Company and RRI (including, to the extent provided, without limitation, medical, prescription, dental, disability, salary continuance, employee life insurance, group life insurance, accidental death and travel accident insurance plans and programs) to the same extent as other senior executive employees.
(ii)    Expenses. During the Employment Period, Executive shall be entitled to receive prompt reimbursement for all reasonable travel and other expenses incurred by Executive in carrying out Executive’s duties under this Agreement, provided that Executive complies with the policies, practices and procedures of the Company and RRI for submission of expense reports, receipts or similar documentation of the incurrence and purpose of such expenses.
(iii)    Paid Time Off. Executive shall be entitled to holidays and paid time off in accordance with the Company’s holiday and paid time off policies applicable to executive officers as in effect from time to time.
(iv)    Car Allowance. During the Employment Period, Executive shall be paid a monthly car allowance in the gross amount of $850 ($10,200 annually).
(v)    Moving and Relocation Expenses. It is expected that Executive shall reside permanently in the Denver, Colorado metropolitan area during the Employment Period. Employer will pay on Executive’s behalf up to $100,000 of relocation expenses in accordance with the standard Company relocation benefits policy in effect as of the Effective Date (which maximum amount includes all direct relocation costs as well as all ancillary payments, benefits and tax assistance) (“Relocation Expenses”). If Executive terminates her employment without Good Reason or is terminated by the Company for Cause within twenty-four (24) months of the Effective Date, Executive shall have an obligation to repay to the Company all or a portion of the Relocation Expenses pursuant to the terms of the “Relocation and Repayment Agreement” that Executive will be required to sign under the applicable Company relocation benefits policy.
(f)    Reservation of Rights. The Company reserves the right to modify, suspend or discontinue any and all of the employee benefit plans, practices, policies and programs referenced in subsections (e)(i), (ii), and (iii) above at any time without recourse by Executive so long as such action is taken with respect to senior executives generally and does not single out Executive.
4.    Termination.
(a)    Death or Disability. Executive’s employment and all associated rights and benefits shall terminate automatically upon Executive’s death. If the Company determines in good faith that the Disability of Executive has occurred, it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the thirtieth (30th) day after receipt of such notice by Executive, provided that, within the thirty (30) days after such receipt, Executive shall not have returned to full-time performance of her duties.
(b)    Cause. The Company may terminate Executive’s employment at any time for Cause.
(c)    By the Company without Cause. The Company may terminate Executive’s employment at any time without Cause.
(d)    By Executive for Good Reason. Executive may terminate her employment at any time for Good Reason subject to the notice and cure provisions set forth in the definition thereof.
(e)    Obligations of the Company Upon Termination.
(i)    Death; Disability; For Cause; Resignation without Good Reason. If Executive’s employment is terminated by reason of Executive’s Death or Disability or by the Company for Cause or Executive resigns without Good Reason, this Agreement shall terminate without further obligations to Executive or her legal representatives under this Agreement, other than (A) payment of the sum of (1) Executive’s Annual Base Salary through the date of termination 

3

to the extent not theretofore paid and (2) reimbursement for any unreimbursed business expenses incurred through the date of termination which shall be paid in a lump sum in cash within thirty (30) days of the effective date of termination or such earlier date as may be required by law; (A) any payments, benefits or fringe benefits to which Executive shall be entitled under the terms of any applicable compensation arrangement or benefit, equity or fringe benefit plan or program or grant or this Agreement, which shall be paid at such times in and such forms as provided for by such plan, program or grant or such earlier date as may be required by law; and (A) any Annual Bonus earned but unpaid with respect to the fiscal year ending on or preceding the date of termination, which shall be paid in a lump sum in cash when such Annual Bonus payment is regularly paid to similarly situated executives, but in no event later than the March 15 next following the date of termination (the payments and benefits described in clauses (A), (B), and (C) shall be hereinafter referred to as the “Accrued Obligations”).
(ii)    By the Company without Cause or by Executive for Good Reason. If the Company terminates Executive’s employment without Cause or Executive terminates her employment for Good Reason, this Agreement shall terminate without further obligations to Executive other than:
(A)    payment of the Accrued Obligations as described in Section 4(e)(i); and
(B)    payment of the equivalent of twelve (12) months of Executive’s Annual Base Salary as in effect immediately prior to the date of termination which shall be paid in a lump sum in cash within sixty (60) days of the effective date of termination, subject to standard withholdings and other authorized deductions;
provided, however, that as a condition precedent to receiving the payments and benefits provided for in this Section 4(e)(ii) (other than payment of the Accrued Obligations), Executive shall first execute and deliver to the Company and RRI a general release agreement in a form that is satisfactory to the Company and RRI, and all rights of Executive thereunder or under applicable law to rescind or revoke the release shall have expired no later than the date specified in such release, which shall either be twenty-eight (28) days or fifty-two (52) days, dependent upon the circumstances, after the date of termination. If Executive fails to timely execute the release, all payments and benefits set forth in this Section 4(e)(ii) (other than the payment of the Accrued Obligations) shall be forfeited; provided, further, that notwithstanding anything in this Agreement to the contrary, if Executive receives severance payments and benefits under the Red Robin Gourmet Burgers, Inc. Executive Change in Control Severance Plan (as such plan may be modified, amended and/or restated from time to time), Executive shall have no right to receive the payments and benefits under this Section 4(e)(ii).
(iii)    Exclusive Remedy. Executive agrees that the payments contemplated by this Section 4(e) shall constitute the exclusive and sole remedy for any termination of her employment, and Executive covenants not to assert or pursue any other remedies, at law or in equity, with respect to any termination of employment; provided, however, that nothing contained in this Section 4(e)(iii) shall prevent Executive from otherwise challenging in a subsequent arbitration proceeding a determination by the Company that it was entitled to terminate Executive’s employment hereunder for Cause.
(iv)    Termination of Payments; Clawback. Anything in this Agreement to the contrary notwithstanding, the Company shall have the right to terminate all payments and benefits owing to Executive pursuant to this Section 4(e) upon the Company’s discovery of any breach by Executive of her obligations under the general release or Sections 5, 6, 7 and 8 of this Agreement.
(f)    Survival of Certain Obligations Following Termination. Notwithstanding any other provision contained in this Agreement, the provisions in Sections 5 through 11 and 14 through 21 of this Agreement shall survive any termination of Executive’s employment hereunder (but shall be subject to Executive’s right to receive the payments and benefits provided under this Section 4.).
5.    Confidential Information. Except in the good-faith performance of her duties hereunder, Executive shall not disclose to any person or entity or use, any information not in the public domain, in any form, acquired by Executive while she was employed or associated with the Company or RRI or, if acquired following the termination of such association, such information which, to Executive’s knowledge, has been acquired, directly or indirectly, from any 

4

person or entity owing a duty of confidentiality to the Company or RRI, relating to the Company or its business. Executive agrees and acknowledges that all of such information, in any form, and copies and extracts thereof are and shall remain the sole and exclusive property of the Company, and Executive shall on request return to the Company the originals and all copies of any such information provided to or acquired by Executive in connection with her association with the Company or RRI, and shall return to the Company all files, correspondence and/or other communications received, maintained and/or originated by Executive during the course of such association.
6.    Covenant Not to Compete. Executive agrees that, for the period commencing on the Effective Date and ending twelve (12) months after the date of termination of Executive’s employment with the Company (the “Restrictive Period”), Executive shall not directly or indirectly, either for herself or for, with or through any other Person, own, manage, operate, control, be employed by, participate in, loan money to or be connected in any manner with, or permit her name to be used by, either (i) any business that, in the reasonable judgment of the Board, competes with the Company and its subsidiaries in the burger-focused restaurant business in (x) the United States, (y) the Canadian provinces of Alberta and British Columbia, or (z) any other country, province or territory in which the Company conducts business as of the date Executive’s employment terminates, or (ii) the following casual dining and brew-centric restaurant concepts (and their successors): Chili’s, Applebee’s, Ruby Tuesday, TGIFridays, Texas Roadhouse, BJ’s, Yardhouse, Millers Ale House and Brickhouse (“Competitive Activity”). In making its judgment as to whether any business is engaged in a burger-focused Competitive Activity, the Board shall act in good faith, and shall first provide Executive with a reasonable opportunity to present such information as Executive may desire for the Board’s consideration. For purposes of this Agreement, the term “participate” includes any direct or indirect interest, whether as an officer, director, employee, partner, sole proprietor, trustee, beneficiary, agent, representative, independent contractor, consultant, advisor, provider of personal services, creditor, owner (other than by ownership of less than five percent (5%) of the stock of a publicly-held corporation whose stock is traded on a national securities exchange (a “Public Company”)).
7.    No Interference. During the Restrictive Period, Executive shall not, without the prior written approval of the Company, directly or indirectly through any other Person (a) induce or attempt to induce any employee of the Company or RRI at the level of General Manager or higher in restaurant operations or the level of Director or higher at the Company’s home office to leave the employ of the Company or RRI, or in any way interfere with the relationship between the Company or RRI and any employee thereof, (b) hire any individual who was an employee of the Company or RRI at the level of General Manager or higher in restaurant operations or the level of Director or higher at the Company’s home office within twelve (12) months after such individual’s employment with the Company or RRI was terminated for any reason or (c) induce or attempt to induce any supplier or other business relation of the Company or RRI to cease doing business with the Company or RRI, or in any way interfere with the relationship between any such supplier or business relation and the Company or RRI.
8.    Return of Documents. In the event of the termination of Executive’s employment for any reason, Executive shall deliver to the Company all of (a) the property of the Company or any of its subsidiaries, and (b) non-personal documents and data of any nature and in whatever medium of the Company or any of its subsidiaries, and she shall not take with her any such property, documents or data or any reproduction thereof, or any documents containing or pertaining to any Confidential Information.
9.    Reasonableness of Restrictions. Executive agrees that the covenants set forth in Sections 5, 6, 7 and 8 are reasonable with respect to their duration, geographical area and scope. In the event that any of the provisions of Sections 5, 6, 7 and 8 relating to the geographic or temporal scope of the covenants contained therein or the nature of the business or activities restricted thereby shall be declared by a court of competent jurisdiction to exceed the maximum restrictiveness such court deems enforceable, such provision shall be deemed to be replaced herein by the maximum restriction deemed enforceable by such court.
10.    Injunctive Relief. The parties hereto agree that the Company would suffer irreparable harm from a breach by Executive of any of the covenants or agreements contained herein, for which there is no adequate remedy at law. Therefore, in the event of the actual or threatened breach by Executive of any of the provisions of this Agreement, the Company, or its respective successors or assigns, may, in addition and supplementary to other rights and remedies existing in their favor, apply to any court of law or equity of competent jurisdiction for specific performance, injunctive or other relief (without the necessity of posting bond) in order to enforce compliance with, or prevent any violation of, 

5

the provisions hereof; and that, in the event of such a breach or threat thereof, the Company shall be entitled to obtain a temporary restraining order and/or a preliminary or permanent injunction restraining Executive from engaging in activities prohibited hereby or such other relief as may be required to specifically enforce any of the covenants contained herein.
11.    Extension of Restricted Periods. In addition to the remedies the Company may seek and obtain pursuant to this Agreement, the restricted periods set forth herein shall be extended by any and all periods during which Executive shall be found by a court to have been in violation of the covenants contained herein.
12.    Stock Ownership Requirement. While employed by the Company, Executive shall be expected to maintain ownership of common stock or stock equivalents in such amounts and on such terms and conditions as are set forth in the Company’s Executive Stock Ownership Guidelines established by the Compensation Committee and in effect from time to time (the “Ownership Guidelines”). Executive is expected to meet the ownership requirements set forth in the Ownership Guidelines within the time period stated in the Ownership Guidelines. In the event Executive is unable to meet her ownership requirements within the defined time period, Executive shall retain all net after tax profit shares following option exercise and/or the vesting of restricted stock units until Executive has satisfied the requirements set forth in this Section 12. No additional liability shall apply to Executive if Executive fails to satisfy the stock ownership requirements set forth in this Section 12.
13.    Definitions. As used herein, unless the context otherwise requires, the following terms have the following respective meanings:
“Cause” means with respect to the termination by the Company of Executive as an employee of the Company:
(i)    Executive’s continual or deliberate neglect in the performance of her material duties;
(ii)    Executive’s failure to devote substantially all of her working time to the business of the Company and its subsidiaries (other than as expressly permitted in this Agreement);
(iii)    Executive’s failure to follow the lawful directives of the Board or the Chief Executive Officer and President in any material respect;
(iv)    Executive’s engaging in misconduct in connection with the performance of any of her duties, including, without limitation, falsifying or attempting to falsify documents, books or records of the Company or its subsidiaries, misappropriating or attempting to misappropriate funds or other property, or securing or attempting to secure any personal profit in connection with any transaction entered into on behalf of the Company or its subsidiaries;
(v)    the violation by Executive, in any material respect, of any policy or of any code or standard of behavior or conduct generally applicable to employees of the Company or its subsidiaries;
(vi)    Executive’s breach of the material provisions of this Agreement or any other non-competition, non-interference, non-disclosure, confidentiality or other similar agreement executed by Executive with the Company or any of its subsidiaries or other act of disloyalty to the Company or any of its subsidiaries (including, without limitation, aiding a competitor or unauthorized disclosure of confidential information); or
(vii)    Executive’s engaging in conduct which is reasonably likely to result in material injury to the reputation of the Company or any of its subsidiaries, including, without limitation, commission of a felony, fraud, embezzlement or other crime involving moral turpitude;
provided, however, Executive will not be deemed to have been terminated for Cause in the case of clauses (i), (ii), (iv) and (v) above, unless any such failure or material breach is not fully corrected prior to the expiration of the ten (10) business day period following delivery to Executive of the Company’s written notice that specifies in detail of the alleged Cause event(s) and the Company’s intention to terminate her employment for Cause.

6

“Disability” means a physical or mental impairment which substantially limits a major life activity of Executive and which renders Executive unable to perform the essential functions of her position, even with reasonable accommodation which does not impose an undue hardship on the Company. The Company reserves the right, in good faith, to make the determination of disability under this Agreement based upon information supplied by Executive and/or her medical personnel, as well as information from medical personnel (or others) selected by the Company or its insurers.
“Good Reason” shall mean the occurrence, without Executive’s express written consent, of: (i) a material reduction in Executive’s compensation other than as permitted pursuant to Section 3 hereof; (ii) a relocation of the Company’s headquarters to a location more than twenty (20) miles from the location of the Company’s headquarters prior to such relocation; (iii) any willful breach by the Company of any material provision of this Agreement; or (iv) a significant reduction in the then-effective responsibilities of the Chief Financial Officer; provided that Executive gives written notice to the Company of the existence of such a condition within ninety (90) days of the initial existence of the condition, the Company has at least thirty (30) days from the date when such notice is provided to cure the condition without being required to make payments due to termination by Executive for Good Reason, and Executive actually terminates her employment for Good Reason within six (6) months of the initial occurrence of any of the conditions in (i) - (iv), above.
“Person” means any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended).
14.    Arbitration. Except as otherwise provided herein, any controversy arising out of or relating to this Agreement, its enforcement or interpretation, or because of an alleged breach, default, or misrepresentation in connection with any of its provisions, or any other controversy arising out of Executive’s employment, including, but not limited to, any state or federal statutory or common law claims, shall be submitted to arbitration in Denver, Colorado, before a sole arbitrator (the “Arbitrator”) selected from Judicial Arbiter Group, Inc., Denver, Colorado, or its successor (“JAG”), or if JAG is no longer able to supply the arbitrator, such arbitrator shall be selected from the Judicial Arbitration and Mediation Services, Inc. (“JAMS”), or other mutually agreed upon arbitration provider, as the exclusive forum for the resolution of such dispute. Provisional injunctive relief may, but need not, be sought by either party to this Agreement in a court of law while arbitration proceedings are pending, and any provisional injunctive relief granted by such court shall remain effective until the matter is finally determined by the Arbitrator. Final resolution of any dispute through arbitration may include any remedy or relief which the Arbitrator deems just and equitable, including any and all remedies provided by applicable state or federal statutes. At the conclusion of the arbitration, the Arbitrator shall issue a written decision that sets forth the essential findings and conclusions upon which the Arbitrator’s award or decision is based. Any award or relief granted by the Arbitrator hereunder shall be final and binding on the parties hereto and may be enforced by any court of competent jurisdiction. The parties acknowledge and agree that they are hereby waiving any rights to trial by jury in any action, proceeding or counterclaim brought by either of the parties against the other in connection with any matter whatsoever arising out of or in any way connected with this Agreement or Executive’s employment, and under no circumstances shall class claims be processed or participated in by Executive. The parties agree that Company shall be responsible for payment of the forum costs of any arbitration hereunder, including the Arbitrator’s fee. Executive and the Company further agree that in any proceeding to enforce the terms of this Agreement, the prevailing party shall be entitled to its or her reasonable attorneys’ fees and costs incurred by it or her in connection with resolution of the dispute in addition to any other relief granted.
15.    Governing Law. This Agreement and the legal relations hereby created between the parties hereto shall be governed by and construed under and in accordance with the internal laws of the State of Colorado, without regard to conflicts of laws principles thereof. Executive shall submit to the venue and personal jurisdiction of the Colorado state and federal courts concerning any dispute for which judicial redress is permitted pursuant to this Agreement; however the Company is not limited in seeking relief in those courts.

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16.    Taxes.
(a)    Except to the extent specifically provided in Section 17, Executive shall be solely liable for Executive’s tax consequences of compensation and benefits payable under this Agreement, including any consequences of the application of Section 409A of the Code.
(b)    In order to comply with all applicable federal or state income tax laws or regulations, the Company may withhold from any payments made under this Agreement all applicable federal, state, city or other applicable taxes.
17.    Section 409A Savings Clause.
(a)    It is the intention of the parties that compensation or benefits payable under this Agreement not be subject to the additional tax imposed pursuant to Section 409A of the Code, and this Agreement shall be interpreted accordingly. To the extent such potential payments or benefits could become subject to additional tax under such Section, the parties shall cooperate to amend this Agreement with the goal of giving Executive the economic benefits described herein in a manner that does not result in such tax being imposed.
(b)    Each payment or benefit made pursuant to Section 4(e) of this Agreement shall be deemed to be a separate payment for purposes of Section 409A of the Code. In addition, payments or benefits pursuant to Section 4(e) shall be exempt from the requirements of Section 409A of the Code to the maximum extent possible as “short-term deferrals” pursuant to Treasury Regulation Section 1.409A-1(b)(4), as involuntary separation pay pursuant to Treasury Regulation Section 1.409A-1(b)(9)(iii), and/or under any other exemption that may be applicable, and this Agreement shall be construed accordingly.
(c)    For purposes of this Agreement, phrases such as “termination of employment” shall be deemed to mean “separation from service,” as defined in Section 409A of the Code and the Treasury Regulations thereunder.
(d)    If Executive is a specified employee within the meaning of Section 409A(a)(2)(B)(i) of the Code and would receive any payment sooner than six (6) months after Executive’s “separation from service” that, absent the application of this Section 17(d), would be subject to additional tax imposed pursuant to Section 409A of the Code as a result of such status as a specified employee, then such payment shall instead be payable on the date that is the earliest of (i) six (6) months after Executive’s “separation from service” or (ii) Executive’s death.
18.    Entire Agreement. This Agreement constitutes and contains the entire agreement and final understanding concerning Executive’s employment with the Company and the other subject matters addressed herein between the parties. It is intended by the parties as a complete and exclusive statement of the terms of their agreement. It supersedes and replaces all prior negotiations and all agreements proposed or otherwise, whether written or oral, concerning the subject matter hereof. Any representation, promise or agreement not specifically included in this Agreement shall not be binding upon or enforceable against either party. This is a fully integrated agreement.
19.    Amendment and Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Board (or a person expressly authorized thereby) and Executive, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this Agreement.
20.    Clawback. Executive acknowledges that any incentive compensation contemplated under this Agreement shall be subject to the Company’s clawback policies, including, without limitation, any policy adopted to the extent required by applicable law or written company policy adopted to implement the requirements of such law (including, without limitation, Section 304 of the Sarbanes Oxley Act and Section 954 of the Dodd Frank Act).

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21.    Miscellaneous.
(a)    Binding Effect. This Agreement is intended to bind and inure to the benefit of and be enforceable by Executive, the Company and their respective heirs, successors and assigns, except that Executive may not assign her rights or delegate her obligations hereunder without the prior written consent of the Company.
(b)    Notices. All notices required to be given hereunder shall be in writing and shall be deemed to have been given if (i) delivered personally or by documented courier or delivery service, (ii) transmitted by facsimile or (iii) mailed by registered or certified mail (return receipt requested and postage prepaid) to the following listed persons at the addresses and facsimile numbers specified below, or to such other persons, addresses or facsimile numbers as a party entitled to notice shall give, in the manner hereinabove described, to the others entitled to notice:
If to the Company, to:
Red Robin Gourmet Burgers, Inc. 
6312 South Fiddler’s Green Circle, Suite 200N 
Greenwood Village, CO 80111 
Attention: Chief Executive Officer 
Facsimile No.: 303-846-6048
with a copy to:
Red Robin Gourmet Burgers, Inc. 
6312 South Fiddler’s Green Circle, Suite 200N 
Greenwood Village, CO 80111 
Attention: Chief Legal Officer 
Facsimile No.: 303-846-6048
If to Executive:
To Executive’s last known address as reflected in the Company’s records, or to such other address as Executive shall designate by written notice to the Company.
If given personally or by documented courier or delivery service, or transmitted by facsimile, a notice shall be deemed to have been given when it is received. If given by mail, it shall be deemed to have been given on the third business day following the day on which it was posted.
(c)    Headings. The section and other headings contained in this Agreement are for the convenience of the parties only and are not intended to be a part hereof or to affect the meaning or interpretation hereof
(d)    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.
(e)    Construction. Each party has cooperated in the drafting and preparation of this Agreement. Hence, in any construction to be made of this Agreement, the same shall not be construed against any party on the basis that the party was the drafter.
(f)    Savings Clause. If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of the Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable. Subject to the foregoing, upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent reasonably practicable.

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Exhibit 10.39

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.
	
	
	RED ROBIN GOURMET BURGERS, INC.

	By:__/s/ Denny Marie Post____________

	Name: Denny Marie Post

	 Title:   President and Chief Executive   
            Officer

	EXECUTIVE:

	_/s/ Lynn S. Schweinfurth_____________

	Lynn S. Schweinfurth

[Signature Page to Employment Agreement (Schweinfurth)]

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