Document:

First Amendment Agreement with KeyBank National Association, and U.S. Bank

 Exhibit 10.28 
 FIRST AMENDMENT AGREEMENT 
 This FIRST AMENDMENT AGREEMENT (this “Amendment”) is made as of the
10th day of March, 2006 among: 
 (a) NAUTILUS, INC., a Washington corporation (“Borrower”); 
 (b) the Lenders, as defined in the
Credit Agreement, as hereinafter defined; 
 (c) KEYBANK NATIONAL ASSOCIATION, as lead arranger, sole book runner and administrative agent
for the Lenders under the Credit Agreement (“Agent”); and 
 (d) U.S. BANK NATIONAL ASSOCIATION, as syndication agent under the
Credit Agreement. 
 WHEREAS, Borrower, Lenders and Agent are parties to that certain Credit Agreement, dated as of November 18, 2005,
that provides, among other things, for loans and letters of credit aggregating Sixty-Five Million Dollars ($65,000,000), all upon certain terms and conditions (as the same may from time to time be amended, restated or otherwise modified, the
“Credit Agreement”); 
 WHEREAS, Borrower has notified Agent and the Lenders that the following subsidiaries have merged with and
into Borrower: 
 -Nautilus Direct, Inc. 
 -The Nautilus Group Sales Corporation 
 -DFI Properties, LLC 
 -BFI Advertising, Inc. 
 -Nautilus/Schwinn
Fitness Group Inc. 
 -DF Hebb Industries, Inc. 
 -Stairmaster Health & Fitness Products, Inc. 
 -Nautilus Human Performance Systems, Inc. 

WHEREAS, Borrower, Agent and the Lenders desire to amend the Credit Agreement to modify certain provisions thereof and add certain provisions thereto;

 WHEREAS, each capitalized term used herein and defined in the Credit Agreement, but not otherwise defined herein, shall have the meaning
given such term in the Credit Agreement; and 
 WHEREAS, unless otherwise specifically provided herein, the provisions of the Credit
Agreement revised herein are amended effective as of the date of this Amendment; 

 NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein and for other
valuable consideration, Borrower, Agent and the Lenders agree as follows: 
 1. Retroactive Amendment to Definitions. Article I of the
Credit Agreement is hereby retroactively amended, effective as of December 31, 2005, to the delete the definitions of “Consolidated Capital Expenditures” and “Triggering Event Date” therefrom and to insert in place thereof,
respectively, the following: 
 “Consolidated Capital Expenditures” shall mean, for any period, the amount of
capital expenditures of Borrower, as determined on a Consolidated basis and in accordance with GAAP; provided, however, that, for purposes of calculating the Fixed Charge Coverage Ratio and the related financial covenant set forth in
Section 5.7(b) hereof, the following capital expenditures made by Borrower for the purchase of a new chief executive office shall be excluded from the calculation of Consolidated Capital Expenditures: (a) during the period from
January 1, 2005 through March 31, 2005, an amount equal to Zero Dollars ($0), (b) during the period from April 1, 2005 through June 30, 2005, an amount equal to Five Million One Hundred Twelve Thousand Seven Hundred
Fifty-Three and 15/100 Dollars ($5,112,753.15), (c) during the period from July 1, 2005 through September 31, 2005, an amount equal to Four Million Nine Hundred Two Thousand Three Hundred Ten and 98/100 Dollars ($4,902,310.98), and
(d) during the period from October 1, 2005 through December 31, 2005, an amount equal to Three Million Two Hundred Twenty Three Thousand Three Hundred Twenty-Six and 12/100 Dollars ($3,223,326.12). 
 “Triggering Event Date” shall mean the earlier of (a) the first date that the Leverage Ratio is equal to or greater than
2.00 to 1.00, or (b) the first date that an Event of Default shall occur after March 10, 2006. 
 2. Amendment to
Definitions. Article I of the Credit Agreement is hereby amended to delete the definition of “Restricted Payment” therefrom and to insert in place thereof the following: 
 “Restricted Payment” shall mean, with respect to any Company, (a) any Capital Distribution, or (b) any amount paid by
such Company in repayment, redemption, retirement or repurchase, directly or indirectly, of any Subordinated Indebtedness. 
 3. Addition
to Definitions. Article I of the Credit Agreement is hereby amended to add the following new definition thereto: 
 “First Amendment Effective Date” shall mean March 10, 2006. 
 4. Amendment to Default Rate. Section 2.3
of the Credit Agreement is hereby amended to delete subsection (c) therefrom and to insert in place thereof the following: 
 (c) Default Rate. Anything herein to the contrary notwithstanding, if an Event of Default shall occur, upon the election of the Required Lenders (i) the principal of each Loan and the unpaid interest thereon shall bear interest,
until paid, at the Default 

 Rate, (ii) the fee for the aggregate undrawn amount of all issued and outstanding Letters of Credit
shall be increased by two percent (2%) in excess of the rate otherwise applicable thereto, and (iii) in the case of any other amount not paid when due from Borrower hereunder or under any other Loan Document, such amount shall bear
interest at the Default Rate; provided that, during an Event of Default under Section 7.1 or 7.12 hereof, the applicable Default Rate shall apply without any election or action on the part of Agent or any Lender. 
 5. Retroactive Amendment to Post-Closing Items. Section 4.3(a) of the Credit Agreement is hereby retroactively amended, effective as of the
Closing Date, to delete the phrase “forty-five (45) days” therefrom and to insert in place thereof the phrase “ninety (90) days”. 
 6. Amendment to Financial Covenants. Section 5.7 of the Credit Agreement is hereby amended to delete subsection (b) therefrom and to insert in place thereof the following: 
 (b) Fixed Charge Coverage Ratio. The Companies shall not suffer or permit at any time the Fixed Charge Coverage Ratio to be less
than (i) on the Closing Date through March 30, 2006, 1.20 to 1.00, (ii) on March 31, 2006 through December 30, 2006, 0.75 to 1.00, and (iii) on December 31, 2006 and thereafter, 1.20 to 1.00. 
 7. Retroactive Additions to Investments. Section 5.11 of the Credit Agreement is hereby retroactively amended, effective as of the Closing
Date, to add the following new subparts (ix) and (x) at the end thereto: 
 (ix) any Hedge Agreement that may be
construed as an investment, so long as such Hedge Agreement shall have been entered into in the ordinary course of business and not for speculative purposes; and 
 (x) guaranties for leases of real or personal property leased by a Credit Party if such leases are not otherwise prohibited by any Loan
Documents 
 8. Amendment to Restricted Payments. Article V of the Credit Agreement is hereby amended to delete Section 5.15
therefrom and to insert in place thereof the following: 
 Section 5.15. Restricted Payments. No Company shall
make or commit itself to make any Restricted Payment at any time, except that Borrower may make (a) Capital Distributions, and (b) scheduled interest payments on Subordinated Indebtedness, in each case so long as no Default or Event of
Default shall then exist or immediately thereafter shall begin to exist; provided, however, that, for the period commencing on January 1, 2006 until such time as the Fixed Charge Coverage Ratio shall be equal to or greater than 1.20 to 1.00,
Borrower may only make Capital Distributions for the repurchase of shares in an aggregate amount not to exceed Thirty Million Dollars ($30,000,000). 

 9. Addition to Compliance with Laws. Section 6.3 of the Credit Agreement is hereby amended to
add the following new subsections (d), (e) and (f) at the end thereto: 
 (d) has ensured that no Person who owns a
controlling interest in or otherwise controls a Company is (i) listed on the Specially Designated Nationals and Blocked Person List maintained by the Office of Foreign Assets Control (“OFAC”), Department of the Treasury, or any other
similar lists maintained by OFAC pursuant to any authorizing statute, executive order or regulation, or (ii) a Person designated under Section 1(b), (c) or (d) of Executive Order No. 13224 (September 23, 2001), any related
enabling legislation or any other similar executive orders; 
 (e) is in compliance with all applicable Bank Secrecy Act and
anti-money laundering laws and regulations; and 
 (f) is in compliance, in all material respects, with the Patriot Act.

 10. Amendment to Locations. Section 6.9 of the Credit Agreement is hereby amended to delete each instance of the phrase
“As (or “as”, as appropriate) of the Closing Date” therefrom and to insert in place thereof, respectively, the phrase “As (or “as”, as appropriate) of the First Amendment Effective Date”. 
 11. Retroactive Amendment to Intellectual Property. Section 6.17 of the Credit Agreement is hereby retroactively amended, effective as of the
Closing Date, to delete the phrase “Other than as disclosed on Schedule 6.17 hereto” therefrom and to insert in place thereof the phrase “Other than as disclosed on Schedule 6.4 hereto”. 
 12. Amendment to Schedules. The Credit Agreement is hereby amended to delete Schedule 2 (Guarantors of Payment), Schedule 3 (Pledged
Securities), Schedule 6.1 (Corporate Existence), Schedule 6.9 (Locations) therefrom and to insert in place thereof, respectively, a new Schedule 2, Schedule 3, Schedule 6.1 and Schedule 6.9 in the form of
Schedule 2, Schedule 3, Schedule 6.1 and Schedule 6.9, as appropriate, attached hereto. 
 13. Waiver of
Specific Defaults. Borrower has notified Agent and the Lenders that Borrower has failed to comply with the financial covenant set forth in Section 5.7(b) (Fixed Charge Coverage Ratio) for the fiscal year of Borrower ending December 31,
2005 (the “Violation”). Borrower has requested that Agent and the Lenders waive the Default and Event of Default that exist under the Credit Agreement by virtue of the Violation. Agent and the Lenders hereby waive the aforesaid Default and
Event of Default that exist solely by virtue of the Violation on the condition that, after giving effect to the terms of this Amendment, no Default or Event of Default shall exist under the Credit Agreement or any other Loan Document. This Amendment
shall serve as evidence of such waiver. Borrower agrees with Agent and the Lenders that (a) except with respect to the limited waiver granted herein specifically relating to the Violation, Agent and the Lenders shall not be under any obligation
to forbear from exercising any of their rights or remedies upon the occurrence of any Default or Event of Default, (b) Borrower shall be in full compliance with the Credit Agreement and the other Loan Documents on and after the date of this
Amendment, and (c) Agent and the Lenders have not established any course of dealing with respect to such waiver or otherwise that is inconsistent with the express terms of the Credit Agreement and the other Loan Documents. 

 14. Closing Items. Concurrently with the execution of this Amendment, Borrower shall: 

(a) deliver to Agent, for the benefit of the Lenders, a Guaranty of Payment executed by DashAmerica, Inc., such agreement to be
substantially in the form of Exhibit H to the Credit Agreement, along with any corporate governance and authorization documents, in each case as may be deemed reasonably necessary or advisable by Agent; 
 (b) cause each Guarantor of Payment to execute the attached Acknowledgement and Agreement; and 
 (c) pay all legal fees and expenses of Agent in connection with this Amendment. 
 15. Post-Closing Items. Within thirty (30) days after the First Amendment Effective Date (unless a longer period is agreed to in writing by
Agent), Borrower shall have delivered to Agent, for the benefit of the Lenders, the stock certificate representing sixty-five percent (65%) of the common stock of Nautilus International Holdings, S.A. and a corresponding stock transfer power,
to be executed in blank and held in escrow pursuant to Section 2.12 of the Credit Agreement. 
 16. Representations and
Warranties. Borrower hereby represents and warrants to Agent and the Lenders that (a) Borrower has the legal power and authority to execute and deliver this Amendment; (b) the officers executing this Amendment have been duly authorized
to execute and deliver the same and bind Borrower with respect to the provisions hereof; (c) the execution and delivery hereof by Borrower and the performance and observance by Borrower of the provisions hereof do not violate or conflict with
the organizational agreements of Borrower or any law applicable to Borrower or result in a breach of any provision of or constitute a default under any other agreement, instrument or document binding upon or enforceable against Borrower;
(d) except as waived herein, no Default or Event of Default exists under the Credit Agreement, nor will any occur immediately after the execution and delivery of this Amendment or by the performance or observance of any provision hereof;
(e) Borrower is not aware of any claim or offset against, or defense or counterclaim to, Borrower’s obligations or liabilities under the Credit Agreement or any Related Writing; and (f) this Amendment constitutes a valid and binding
obligation of Borrower in every respect, enforceable in accordance with its terms. 
 17. References to Credit Agreement. Each
reference that is made in the Credit Agreement or any Related Writing shall hereafter be construed as a reference to the Credit Agreement as amended hereby. Except as herein otherwise specifically provided, all terms and provisions of the Credit
Agreement are confirmed and ratified and shall remain in full force and effect and be unaffected hereby. This Amendment is a Related Writing. 
 18. Waiver. Borrower, by signing below, hereby waives and releases Agent and each of the Lenders, and their respective directors, officers, employees, attorneys, affiliates and subsidiaries, from any and all claims, offsets, defenses
and counterclaims of which Borrower is aware, such waiver and release being with full knowledge and understanding of the circumstances and effect thereof and after having consulted legal counsel with respect thereto. 

 19. Counterparts. This Amendment may be executed in any number of counterparts, by different
parties hereto in separate counterparts and by facsimile signature, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. 
 20. Headings. The headings, captions and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of
this Amendment. 
 21. Severability. Any term or provision of this Amendment held by a court of competent jurisdiction to be invalid
or unenforceable shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the term or provision so held to be invalid or unenforceable. 
 22. Governing Law. The rights and obligations of all parties hereto shall be governed by the laws of the State of Ohio, without regard to
principles of conflicts of laws. 
 [Remainder of page intentionally left blank.] 

 JURY TRIAL WAIVER. BORROWER, THE LENDERS AND AGENT, TO THE EXTENT PERMITTED BY LAW, EACH HEREBY
WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG BORROWER, THE LENDERS AND AGENT, OR ANY THEREOF, ARISING OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE
RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AMENDMENT OR ANY NOTE OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO. 
 IN WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the date first set forth above. 
  

			
	NAUTILUS, INC.
		
	By:	 	 /s/ William D. Meadowcroft

	Name:	 	William D. Meadowcroft
	Title:	 	Secretary-Treasurer
	
	 KEYBANK NATIONAL ASSOCIATION,
     as Agent and as a Lender

		
	By:	 	 /s/ Jeffrey R. Dincher

	Name:	 	Jeffrey R. Dincher
	Title:	 	Assistant Vice President
	
	 U.S. BANK NATIONAL ASSOCIATION,
     as Syndication Agent and as a Lender

		
	By:	 	 /s/ Scott J. Bell

	Name:	 	Scott J. Bell
	Title:	 	Senior Vice President

 ACKNOWLEDGMENT AND AGREEMENT 
 The undersigned consent and agree to and acknowledge the terms of the foregoing First Amendment Agreement dated as of March 10, 2006. The
undersigned further agree that the obligations of the undersigned pursuant to the Guaranty of Payment executed by the undersigned shall remain in full force and effect and be unaffected hereby. 
 The undersigned hereby waive and release Agent and the Lenders and their respective directors, officers, employees, attorneys, affiliates and
subsidiaries from any and all claims, offsets, defenses and counterclaims of which the undersigned are aware, such waiver and release being with full knowledge and understanding of the circumstances and effect thereof and after having consulted
legal counsel with respect thereto. 
 JURY TRIAL WAIVER. THE UNDERSIGNED, TO THE EXTENT PERMITTED BY LAW, HEREBY WAIVE ANY RIGHT TO
HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG BORROWERS, AGENT, THE LENDERS AND THE UNDERSIGNED, OR ANY THEREOF, ARISING OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE
RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AMENDMENT OR ANY NOTE OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO. 
  

									
	DFI LEASECO, LLC	 		 	DASHAMERICA, INC.
					
	By:	 	Nautilus, Inc.	 		 	By:	 	 /s/ Wayne M. Bolio

	Its:	 	Sole Member	 		 	Name:	 	Wayne M. Bolio
		 		 		 	Title:	 	Vice President
					
	By:	 	 /s/ William D. Meadowcroft
	 		 		 	
	Name:	 	William D. Meadowcroft	 		 		 	
	Title:	 	Secretary-TreasurerPurchase Agreement

 Exhibit 4.1 
 PURCHASE AGREEMENT 
 THIS PURCHASE AGREEMENT (“Agreement”) is made as of the
10th day of March, 2006 by and among Applied Imaging Corp., a Delaware corporation (the “Company”),
and the Investors set forth on the signature pages affixed hereto (each an “Investor” and collectively the “Investors”). 
 Recitals 
 A. The Company and the Investors are executing and delivering this Agreement in reliance
upon the exemption from securities registration afforded by the provisions of Regulation D (“Regulation D”), as promulgated by the U.S. Securities and Exchange Commission (the “SEC”) under the Securities
Act of 1933, as amended; and 
 B. The Investors wish to purchase from the Company, and the Company wishes to sell and issue to the
Investors, upon the terms and conditions stated in this Agreement, (i) an aggregate of 773,812 shares (the “Shares”) of the Company’s Common Stock, par value $0.001 per share (together with any Securities into which such
shares may be reclassified the “Common Stock”), at purchase price of $1.68 per share, and (ii) warrants to purchase an aggregate of 193,453 shares of Common Stock (subject to adjustment) at an exercise price of $2.52 per share
(subject to adjustment) in the form attached hereto as Exhibit A (the “Warrants”); and 
 C. Contemporaneous
with the sale of the Shares and the Warrants, the parties hereto will execute and deliver a Registration Rights Agreement, in the form attached hereto as Exhibit B (the “Registration Rights Agreement”), pursuant to which
the Company will agree to provide certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, and applicable state securities laws. 
 In consideration of the mutual promises made herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows: 
 1. Definitions. In addition to those terms defined above and elsewhere in this
Agreement, for the purposes of this Agreement, the following terms shall have the meanings set forth below: 
 “Affiliate”
means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries Controls, is controlled by, or is under common control with, such Person. 
 “Business Day” means a day, other than a Saturday or Sunday, on which banks in San Francisco are open for the general transaction of
business. 
 “Company’s Knowledge” means the actual knowledge of the executive officers (as defined in Rule 405
under the 1933 Act) of the Company, after due inquiry. 

 “Confidential Information” means trade secrets, confidential information and know-how
(including but not limited to ideas, formulae, compositions, processes, procedures and techniques, research and development information, computer program code, performance specifications, support documentation, drawings, specifications, designs,
business and marketing plans, and customer and supplier lists and related information). 
 “Control” (including the terms
“controlling”, “controlled by” or “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the
ownership of voting Securities, by contract or otherwise. 
 “Effective Date” means the date on which the initial
Registration Statement is declared effective by the SEC. 
 “Effectiveness Deadline” means the date on which the initial
Registration Statement is required to be declared effective by the SEC under the terms of the Registration Rights Agreement. 
 “Intellectual Property Rights” means the ownership or right to use patents, patent applications, trademarks, trademark applications, service marks, trade names, copyrights, licenses and other similar rights in connection
with the respective businesses of the Company and the Subsdiaries as described in the SEC Filings. 
 “Material Adverse
Effect” means a material adverse effect on (i) the assets, liabilities, results of operations, condition (financial or otherwise), business, or prospects of the Company and its Subsidiaries taken as a whole, or (ii) the ability of
the Company to perform its obligations under the Transaction Documents. 
 “Person” means an individual, corporation,
partnership, limited liability company, trust, business trust, association, joint stock company, joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically listed herein.

 “Registration Statement” has the meaning set forth in the Registration Rights Agreement. 
 “SEC Filings” has the meaning set forth in Section 4.6. 
 “Securities” means the Shares and the Warrant Shares. 
 “Subsidiary” of any Person means another Person, an amount of the voting Securities, other voting ownership or voting partnership interests of which is sufficient to elect at least a majority of its
Board of Directors or other governing body (or, if there are no such voting interests, 50% or more of the equity interests of which) is owned directly or indirectly by such first Person. 
 “Transaction Documents” means this Agreement, the Warrants and the Registration Rights Agreement. 
  

 -2- 

 “Warrant Shares” means the shares of Common Stock issuable upon the exercise of the
Warrants. 
 “1933 Act” means the Securities Act of 1933, as amended, or any successor statute, and the rules and
regulations promulgated thereunder. 
 “1934 Act” means the Securities Exchange Act of 1934, as amended, or any successor
statute, and the rules and regulations promulgated thereunder. 
 2. Purchase and Sale of the Shares and Warrants. 
 Subject to the terms and conditions of this Agreement, on the Closing Date, each of the Investors shall severally, and not jointly, purchase, and the
Company shall sell and issue to the Investors, the Shares and the Warrants in the respective amounts set forth opposite the Investors’ names on the signature pages attached hereto in exchange for the respective Purchase Price attributable to
each Investor as set forth on the signature pages attached hereto (“Purchase Price”). 
 3. Closing. 
 (a) The closing of the purchase and sale of the Securities (the “Closing”) shall take place on March 14, 2006 (the “Closing
Date”) at the offices of Wilson Sonsini Goodrich & Rosati, P.C., 650 Page Mill Road, Palo Alto, California 94304, or at such other location and on such other date as the Company and the Investors shall mutually agree.

 (b) Within five Business Days of the Closing Date, the Company shall deliver to the Investors certificates representing the Securities
purchased. 
 4. Representations and Warranties of the Company. The Company hereby represents and warrants to the Investors that,
except as set forth in the SEC Filings: 
 4.1 Organization, Good Standing and Qualification. Each of the Company and its Subsidiaries
is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation and has all requisite corporate power and authority to carry on its business as now conducted and to own its properties.
Each of the Company and its Subsidiaries is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property makes such qualification or
leasing necessary unless the failure to so qualify has not and could not reasonably be expected to have a Material Adverse Effect. The Company’s Subsidiaries are listed in the SEC Filings. 
 4.2 Authorization. The Company has full power and authority and, except for the filing of such Securities filings relating to the offer, sale and
issuance of the Securities with the relevant authorities, has taken all requisite action on the part of the Company, its officers, directors and stockholders necessary for (i) the authorization, execution and delivery of the Transaction
Documents, (ii) the authorization of the performance of all obligations of the Company hereunder or thereunder, and (iii) the authorization, issuance (or reservation for issuance) and delivery of the Securities. The Transaction Documents
constitute the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general
applicability, relating to or affecting creditors’ rights generally. 
  

 -3- 

 4.3 Capitalization. The authorized capital stock of the Company consists of 50,000,000 shares of
Common Stock and 6,000,000 shares of preferred stock, of which 4,814,781 shares of Common Stock were issued and outstanding as of March 9, 2006. No shares of preferred stock are issued and outstanding. As of March 9, 2006, the Company has
reserved 140,855 shares of Common Stock for issuance upon the exercise of stock options granted under the Company’s 1988 Incentive Stock Option Plan, no shares are available for future grant under the Company’s 1988 Incentive Stock Option
Plan, 886,926 shares of Common Stock for issuance upon the exercise of stock options granted under the Company’s 1998 Incentive Stock Option Plan, and 22,136 shares of Common Stock are available for future grant under the 1998 Incentive Stock
Option Plan, and no shares of Common Stock are available for purchase under the Company’s Employee Stock Purchase Plan, and there are options exercisable for 50,000 shares pursuant to a November 2003 Stand-alone Option Agreement, and options
exercisable for 27,500 shares pursuant to a Directors Option Plan, and 336,625 shares of Common Stock for issuance upon the exercise of outstanding warrants to purchase Common Stock (without giving effect to any dilution adjustments to outstanding
warrants as a consequence of the transactions herein). All of the issued and outstanding shares of the Company’s capital stock have been duly authorized and validly issued and are fully paid, nonassessable and free of pre-emptive rights and
were issued in full compliance with applicable state and federal securities law and any rights of third parties. All of the issued and outstanding shares of capital stock of each Subsidiary have been duly authorized and validly issued and are fully
paid, nonassessable and free of pre-emptive rights, were issued in full compliance with applicable state and federal securities law and any rights of third parties and are owned by the Company, beneficially and of record, subject to no lien,
encumbrance or other adverse claim. No Person is entitled to pre-emptive or similar statutory or contractual rights with respect to any securities of the Company. Except as described in the SEC Filings, there are no outstanding warrants, options,
convertible securities or other rights, agreements or arrangements of any character under which the Company or any of its Subsidiaries is or may be obligated to issue any equity securities of any kind and except as contemplated by this Agreement,
neither the Company nor any of its Subsidiaries is currently in negotiations for the issuance of any equity securities of any kind. Except as described in the SEC Filings and except for the Registration Rights Agreement, there are no voting
agreements, buy-sell agreements, option or right of first purchase agreements or other agreements of any kind among the Company and any of the securityholders of the Company relating to the Securities of the Company held by them. Except as described
in the SEC Filings and except as provided in the Registration Rights Agreement, no Person has the right to require the Company to register any Securities of the Company under the 1933 Act, whether on a demand basis or in connection with the
registration of Securities of the Company for its own account or for the account of any other Person. 
 The issuance and sale of the
Securities hereunder will not obligate the Company to issue shares of Common Stock or other securities to any other Person (other than the Investors) and will not result in the adjustment of the exercise, conversion, exchange or reset price of any
outstanding security, other than changes in the exercise prices of previously issued warrants in amounts previously disclosed to the Investors. 
  

 -4- 

 Except as described in the SEC Filings, the Company does not have outstanding stockholder purchase rights
or “poison pill” or any similar arrangement in effect giving any Person the right to purchase any equity interest in the Company upon the occurrence of certain events. 
 4.4 Valid Issuance. The Shares have been duly and validly authorized and, when issued and paid for pursuant to this Agreement, will be validly
issued, fully paid and nonassessable, and shall be free and clear of all encumbrances and restrictions (other than those created by the Investors), except for restrictions on transfer set forth in the Transaction Documents or imposed by applicable
securities laws. The Warrants have been duly and validly authorized. Upon the due exercise of the Warrants, the Warrant Shares will be validly issued, fully paid and non-assessable free and clear of all encumbrances and restrictions, except for
restrictions on transfer set forth in the Transaction Documents or imposed by applicable securities laws and except for those created by the Investors. The Company has reserved a sufficient number of shares of Common Stock for issuance upon the
exercise of the Warrants, free and clear of all encumbrances and restrictions, except for restrictions on transfer set forth in the Transaction Documents or imposed by applicable securities laws and except for those created by the Investors.

 4.5 Consents. The execution, delivery and performance by the Company of the Transaction Documents and the offer, issuance and sale
of the Securities require no consent of, action by or in respect of, or filing with, any Person, governmental body, agency, or official other than filings that have been made pursuant to applicable state securities laws and post-sale filings
pursuant to applicable state and federal securities laws which the Company undertakes to file within the applicable time periods. Subject to the accuracy of the representations and warranties of each Investor set forth in Section 5 hereof, the
Company has taken all action necessary to exempt (i) the issuance and sale of the Securities, (ii) the issuance of the Warrant Shares upon due exercise of the Warrants, and (iii) the other transactions contemplated by the Transaction
Documents from the provisions of any stockholder rights plan or other “poison pill” arrangement, any anti-takeover, business combination or control share law or statute binding on the Company or to which the Company or any of its assets
and properties may be subject and any provision of the Company’s Certificate of Incorporation or By-laws that is or could reasonably be expected to become applicable to the Investors as a result of the transactions contemplated hereby,
including without limitation, the issuance of the Securities and the ownership, disposition or voting of the Securities by the Investors or the exercise of any right granted to the Investors pursuant to this Agreement or the other Transaction
Documents. 
 4.6 Delivery of SEC Filings; Business. The Company has made available to the Investors through the EDGAR system, true
and complete copies of the Company’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2004 (the “10-K”), and all other reports filed by the Company pursuant to the 1934 Act since the
filing of the 10-K and prior to the date hereof (collectively, the “SEC Filings”). The SEC Filings are the only filings required of the Company pursuant to the 1934 Act for such period. The Company and its Subsidiaries are engaged
in all material respects only in the business described in the SEC Filings and the SEC Filings contain a complete and accurate description in all material respects of the business of the Company and its Subsidiaries, taken as a whole. 
  

 -5- 

 4.7 Use of Proceeds. Assuming net proceeds of $1,100,000 from the sale of the Shares and the
Warrants hereunder, the Company presently expects to use $500,000 for investment in its Circulating Tumor Cells initiative through its CTC, Inc. subsidiary, and $600,000 for working capital. 
 4.8 No Material Adverse Change. Since December 31, 2004, except as identified and described in the SEC Filings, there has not been:

 (i) any change in the consolidated assets, liabilities, financial condition or operating results of the Company from that reflected in the
financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2005, except for changes in the ordinary course of business which have not had and could not reasonably be expected to
have a Material Adverse Effect, individually or in the aggregate; 
 (ii) any declaration or payment of any dividend, or any authorization
or payment of any distribution, on any of the capital stock of the Company, or any redemption or repurchase of any Securities of the Company; 
 (iii) any material damage, destruction or loss, whether or not covered by insurance to any assets or properties of the Company or its Subsidiaries; 
 (iv) any waiver, not in the ordinary course of business, by the Company or any Subsidiary of a material right or of a material debt owed to it; 
 (v) any satisfaction or discharge of any lien, claim or encumbrance or payment of any obligation by the Company or a Subsidiary, except in the ordinary
course of business and which is not material to the assets, properties, financial condition, operating results or business of the Company and its Subsidiaries taken as a whole (as such business is presently conducted and as it is proposed to be
conducted); 
 (vi) any change or amendment to the Company’s Certificate of Incorporation or by-laws, or material change to any
material contract or arrangement by which the Company or any Subsidiary is bound or to which any of their respective assets or properties is subject; 
 (vii) any material labor difficulties or labor union organizing activities with respect to employees of the Company or any Subsidiary; 
 (viii) any material transaction entered into by the Company or a Subsidiary other than in the ordinary course of business; 
 (ix) the loss of the services of any key employee, or material change in the composition or duties of the senior management of the Company or any Subsidiary; 
 (x) the loss or threatened loss of any customer which has had or could reasonably be expected to have a Material Adverse Effect; or 
  

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 (xi) any other event or condition of any character that has had or could reasonably be expected to have
a Material Adverse Effect. 
 4.9 SEC Filings. At the time of filing thereof, the SEC Filings complied as to form in all material
respects with the requirements of the 1934 Act and did not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the circumstances under which they
were made, not misleading. 
 4.10 No Conflict, Breach, Violation or Default. The execution, delivery and performance of the
Transaction Documents by the Company and the issuance and sale of the Securities will not conflict with or result in a breach or violation of any of the terms and provisions of, or constitute a default under (i) the Company’s Certificate
of Incorporation or the Company’s Bylaws, both as in effect on the date hereof (true and complete copies of which have been made available to the Investors through the EDGAR system), or (ii)(a) any statute, rule, regulation or order of any
governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company, any Subsidiary or any of their respective assets or properties, or (b) any agreement or instrument to which the Company or any Subsidiary is a
party or by which the Company or a Subsidiary is bound or to which any of their respective assets or properties is subject. 
 4.11 Tax
Matters. Except as described in the SEC Filings: the Company and each Subsidiary has timely prepared and filed all tax returns required to have been filed by the Company or such Subsidiary with all appropriate governmental agencies and timely
paid all taxes shown thereon or otherwise owed by it; the charges, accruals and reserves on the books of the Company in respect of taxes for all fiscal periods are adequate in all material respects, and there are no material unpaid assessments
against the Company or any Subsidiary nor, to the Company’s Knowledge, any basis for the assessment of any additional taxes, penalties or interest for any fiscal period or audits by any federal, state or local taxing authority except for any
assessment which is not material to the Company and its Subsidiaries, taken as a whole; all taxes and other assessments and levies that the Company or any Subsidiary is required to withhold or to collect for payment have been duly withheld and
collected and paid to the proper governmental entity or third party when due; and there are no tax liens or claims pending or, to the Company’s Knowledge, threatened against the Company or any Subsidiary or any of their respective assets or
property. There are no outstanding tax sharing agreements or other such arrangements between the Company and any Subsidiary or other corporation or entity. 
 4.12 Title to Properties. Except as disclosed in the SEC Filings, the Company and each Subsidiary has good and marketable title to all real properties and all other properties and assets owned by it, in each
case free from liens, encumbrances and defects that would materially affect the value thereof or materially interfere with the use made or currently planned to be made thereof by them; and except as disclosed in the SEC Filings, the Company and each
Subsidiary holds any leased real or personal property under valid and enforceable leases with no exceptions that would materially interfere with the use made or currently planned to be made thereof by them. 
 4.13 Patents and Trademarks. To the Company’s knowledge, the Company and the Subsidiaries have, or have rights to use, all Intellectual
Property Rights that are necessary or material 
  

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 for use in connection with their respective businesses as described in the SEC Filings and which the failure to so have
could, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect. Except as described in the SEC Filings, neither the Company nor Subsidiary has received a written notice that the Intellectual Property
Rights used by the Company or any Subsidiary violates or infringes upon the rights of any Person. Except as set forth in the SEC Filings, all such Intellectual Property Rights are enforceable and, to the Company’s knowledge, do not violate or
infringe the Intellectual Property Rights of others in any respect that would, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect and, to the Company’s knowledge, there is no existing infringement by
another Person of any of the Company’s or the Subsidiary’s Intellectual Property Rights. 
 4.14 Certificates, Authorities and
Permits. The Company and each Subsidiary possess adequate certificates, authorities or permits issued by appropriate governmental agencies or bodies necessary to conduct the business now operated by it, and neither the Company nor any Subsidiary
has received any notice of proceedings relating to the revocation or modification of any such certificate, authority or permit that, if determined adversely to the Company or such Subsidiary, could reasonably be expected to have a Material Adverse
Effect, individually or in the aggregate. 
 4.15 Labor Matters. 
 (a) The Company is not a party to or bound by any collective bargaining agreements or other agreements with labor organizations. The Company has not
violated in any material respect any laws, regulations, orders or contract terms, affecting the collective bargaining rights of employees, labor organizations or any laws, regulations or orders affecting employment discrimination, equal opportunity
employment, or employees’ health, safety, welfare, wages and hours. 
 (b) (i) There are no labor disputes existing, or to the
Company’s Knowledge, threatened, involving strikes, slow-downs, work stoppages, job actions, disputes, lockouts or any other disruptions of or by the Company’s employees, (ii) there are no unfair labor practices or petitions for
election pending or, to the Company’s Knowledge, threatened before the National Labor Relations Board or any other federal, state or local labor commission relating to the Company’s employees, (iii) no demand for recognition or
certification heretofore made by any labor organization or group of employees is pending with respect to the Company and (iv) to the Company’s Knowledge, the Company enjoys good labor and employee relations with its employees and labor
organizations. 
 (c) The Company is in compliance in all material respects with all applicable laws respecting employment (including laws
relating to classification of employees and independent contractors) and employment practices, terms and conditions of employment, wages and hours, and immigration and naturalization. There no claims are pending against the Company before the Equal
Employment Opportunity Commission or any other administrative body or in any court asserting any violation of Title VII of the Civil Rights Act of 1964, the Age Discrimination Act of 1967, 42 U.S.C. §§ 1981 or 1983 or any other
federal, state or local Law, statute or ordinance barring discrimination in employment. 
  

 -8- 

 (d) Except as disclosed in the SEC Filings, the Company is not a party to, or bound by, any employment
or other contract or agreement that contains any severance, termination pay or change of control liability or obligation, including, without limitation, any “excess parachute payment,” as defined in Section 2806(b) of the Internal
Revenue Code. 
 (e) Each of the Company’s employees is a Person who is either a United States citizen or a permanent resident entitled
to work in the United States. To the Company’s Knowledge, the Company has no liability for the improper classification by the Company of such employees as independent contractors or leased employees prior to the Closing. 
 4.16 Environmental Matters. Neither the Company nor any Subsidiary is in violation of any statute, rule, regulation, decision or order of any
governmental agency or body or any court, domestic or foreign, relating to the use, disposal or release of hazardous or toxic substances or relating to the protection or restoration of the environment or human exposure to hazardous or toxic
substances (collectively, “Environmental Laws”), owns or operates any real property contaminated with any substance that is subject to any Environmental Laws, is liable for any off-site disposal or contamination pursuant to any
Environmental Laws, or is subject to any claim relating to any Environmental Laws, which violation, contamination, liability or claim has had or could reasonably be expected to have a Material Adverse Effect, individually or in the aggregate; and
there is no pending or, to the Company’s Knowledge, threatened investigation that might lead to such a claim. 
 4.17 Litigation.
Except as disclosed in the SEC Filings, there are no pending actions, suits or proceedings against or affecting the Company, its Subsidiaries or any of its or their properties; and to the Company’s Knowledge, no such actions, suits or
proceedings are threatened or contemplated. 
 4.18 Financial Statements. The financial statements included in each SEC Filing present
fairly, in all material respects, the consolidated financial position of the Company as of the dates shown and its consolidated results of operations and cash flows for the periods shown, and such financial statements have been prepared in
conformity with United States generally accepted accounting principles applied on a consistent basis (“GAAP”) (except as may be disclosed therein or in the notes thereto, and, in the case of quarterly financial statements, as
permitted by Form 10-Q under the 1934 Act). Except as set forth in the financial statements of the Company included in the SEC Filings filed prior to the date hereof, neither the Company nor any of its Subsidiaries has incurred any liabilities,
contingent or otherwise, except those incurred in the ordinary course of business, consistent (as to amount and nature) with past practices since the date of such financial statements, none of which, individually or in the aggregate, have had or
could reasonably be expected to have a Material Adverse Effect. 
 4.19 Insurance Coverage. The Company and each Subsidiary maintains
in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance
coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure. 
  

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 4.20 Brokers and Finders. Except for compensation payable to Bathgate Capital Partners LLC, no
Person will have, as a result of the transactions contemplated by the Transaction Documents, any valid right, interest or claim against or upon the Company, any Subsidiary or an Investor for any commission, fee or other compensation pursuant to any
agreement, arrangement or understanding entered into by or on behalf of the Company. 
 4.21 No Directed Selling Efforts or General
Solicitation. Neither the Company nor any Person acting on its behalf has conducted any general solicitation or general advertising (as those terms are used in Regulation D) in connection with the offer or sale of any of the Securities.

 4.22 No Integrated Offering. Neither the Company nor any of its Affiliates, nor any Person acting on its or their behalf has,
directly or indirectly, made any offers or sales of any Company security or solicited any offers to buy any security, under circumstances that would adversely affect reliance by the Company on Section 4(2) for the exemption from registration
for the transactions contemplated hereby or would require registration of the Securities under the 1933 Act. 
 4.23 Private
Placement. The offer and sale of the Securities to the Investors as contemplated hereby is exempt from the registration requirements of the 1933 Act. 
 4.24 Questionable Payments. Neither the Company nor any of its Subsidiaries nor, to the Company’s Knowledge, any of their respective current or former stockholders, directors, officers, employees, agents
or other Persons acting on behalf of the Company or any Subsidiary, has on behalf of the Company or any Subsidiary or in connection with their respective businesses: (a) used any corporate funds for unlawful contributions, gifts, entertainment
or other unlawful expenses relating to political activity; (b) made any direct or indirect unlawful payments to any governmental officials or employees from corporate funds; (c) established or maintained any unlawful or unrecorded fund of
corporate monies or other assets; (d) made any false or fictitious entries on the books and records of the Company or any Subsidiary; or (e) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment of
any nature. 
 4.25 Transactions with Affiliates. Except as disclosed in the SEC Filings, none of the officers or directors of the
Company and, to the Company’s Knowledge, none of the employees of the Company is presently a party to any transaction with the Company or any Subsidiary (other than as holders of stock options and/or warrants, and for services as employees,
officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer,
director or such employee or, to the Company’s Knowledge, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner. 
 4.26 Internal Controls. Except as described in the SEC Filings: the Company is in material compliance with the provisions of the Sarbanes-Oxley
Act of 2002 currently applicable to the Company; the Company and the Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with
management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, 
  

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 (iii) access to assets is permitted only in accordance with management’s general or specific authorization, and
(iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences; and, the Company has established disclosure controls and procedures (as
defined in 1934 Act Rules 13a-14 and 15d-14) for the Company and designed such disclosure controls and procedures to ensure that material information relating to the Company, including the Subsidiaries, is made known to the certifying officers
by others within those entities, particularly during the period in which the Company’s most recently filed period report under the 1934 Act, as the case may be, is being prepared. The Company maintains and will continue to maintain a standard
system of accounting established and administered in accordance with GAAP and the applicable requirements of the 1934 Act. 
 4.27
Disclosures. Neither the Company nor any Person acting on its behalf has provided the Investors or their agents or counsel with any information that constitutes or might constitute material, non-public information. The written materials
delivered to the Investors in connection with the transactions contemplated by the Transaction Documents do not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained
therein, in light of the circumstances under which they were made, not misleading. 
 5. Representations and Warranties of the
Investors. Each of the Investors hereby severally, and not jointly, represents and warrants to the Company that: 
 5.1 Organization
and Existence. Such Investor has full right, power, authority and capacity to enter into this Agreement and to consummate the transactions contemplated hereby and has taken all necessary action to authorize the execution, delivery and
performance of this Agreement. 
 5.2 Authorization. The execution, delivery and performance by such Investor of the Transaction
Documents to which such Investor is a party have been duly authorized and will each constitute the valid and legally binding obligation of such Investor, enforceable against such Investor in accordance with their respective terms, subject to
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating to or affecting creditors’ rights generally. 
 5.3 Purchase Entirely for Own Account. The Securities to be received by such Investor hereunder will be acquired for such Investor’s own
account, not as nominee or agent, and not with a view to the resale or distribution of any part thereof in violation of the 1933 Act, and such Investor has no present intention of selling, granting any participation in, or otherwise distributing the
same in violation of the 1933 Act without prejudice, however, to such Investor’s right at all times to sell or otherwise dispose of all or any part of such Securities in compliance with applicable federal and state securities laws. Nothing
contained herein shall be deemed a representation or warranty by such Investor to hold the Securities for any period of time. Such Investor is not a broker-dealer registered with the SEC under the 1934 Act or an entity engaged in a business that
would require it to be so registered. 
  

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 5.4 Investment Experience. Such Investor acknowledges that it can bear the economic risk and
complete loss of its investment in the Securities and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment contemplated hereby. 
 5.5 Disclosure of Information. Such Investor has had an opportunity to receive all information related to the Company requested by it and to ask
questions of and receive answers from the Company regarding the Company, its business and the terms and conditions of the offering of the Securities. Such Investor acknowledges receipt of copies of the SEC Filings. Neither such inquiries nor any
other due diligence investigation conducted by such Investor shall modify, amend or affect such Investor’s right to rely on the Company’s representations and warranties contained in this Agreement. 
 5.6 Restricted Securities. Such Investor understands that the Securities are characterized as “restricted securities” under the U.S.
federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such Securities may be resold without registration under the 1933 Act
only in certain limited circumstances. 
 5.7 Legends. It is understood that, except as provided below, certificates evidencing the
Securities may bear the following or any similar legend: 
 (a) “The securities represented hereby may not be transferred unless
(i) such securities have been registered for sale pursuant to the Securities Act of 1933, as amended, (ii) such securities may be sold pursuant to Rule 144(k), or (iii) the Company has received an opinion of counsel reasonably
satisfactory to it that such transfer may lawfully be made without registration under the Securities Act of 1933 or qualification under applicable state securities laws.” 
 (b) If required by the authorities of any state in connection with the issuance of sale of the Securities, the legend required by such state authority.

 5.8 Accredited Investor. Such Investor is an accredited investor as defined in Rule 501(a) of Regulation D, as amended,
under the 1933 Act. 
 5.9 No General Solicitation. Such Investor did not learn of the investment in the Securities as a result of any
public advertising or general solicitation. 
 5.10 Brokers and Finders. Except for compensation payable to Bathgate Capital Partners
LLC, no Person will have, as a result of the transactions contemplated by the Transaction Documents, any valid right, interest or claim against or upon the Company, any Subsidiary or an Investor for any commission, fee or other compensation pursuant
to any agreement, arrangement or understanding entered into by or on behalf of such Investor. 
 5.11 Prohibited Transactions. Since
the earlier of (a) such time when such Investor was first contacted by the Company or any other Person regarding the transactions contemplated hereby or (b) thirty (30) days prior to the date hereof, neither such Investor nor any
Affiliate of such Investor nor any Person acting on behalf of or pursuant to any understanding with such Investor 
  

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 (collectively, “Trading Affiliates”) has, directly or indirectly, effected or agreed to effect any short
sale, whether or not against the box, established any “put equivalent position” (as defined in Rule 16a-1(h) under the 1934 Act) with respect to the Common Stock, granted any other right (including, without limitation, any put or call
option) with respect to the Common Stock or with respect to any security that includes, relates to or derived any significant part of its value from the Common Stock or otherwise sought to hedge its position in the Securities (each, a
“Prohibited Transaction”). Prior to the earliest to occur of (i) the termination of this Agreement, (ii) the Effective Date or (iii) the Effectiveness Deadline, such Investor shall not, and shall cause its Trading
Affiliates not to, engage, directly or indirectly, in a Prohibited Transaction. Such Investor acknowledges that the representations, warranties and covenants contained in this Section 5.11 are being made for the benefit of the Investors as well
as the Company and that each of the other Investors shall have an independent right to assert any claims against such Investor arising out of any breach or violation of the provisions of this Section 5.11. 
 6. Conditions to Closing. 
 6.1
Conditions to the Investors’ Obligations. The obligation of each Investor to purchase the Shares and the Warrants at the Closing is subject to the fulfillment to such Investor’s satisfaction, on or prior to the Closing Date, of the
following conditions, any of which may be waived by such Investor (as to itself only): 
 (a) The representations and warranties made by the
Company in Section 4 hereof qualified as to materiality shall be true and correct at all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such
representation or warranty shall be true and correct as of such earlier date, and, the representations and warranties made by the Company in Section 4 hereof not qualified as to materiality shall be true and correct in all material respects at
all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct in all material respects as of such
earlier date. The Company shall have performed in all material respects all obligations and conditions herein required to be performed or observed by it on or prior to the Closing Date. 
 (b) The Company shall have obtained any and all consents, permits, approvals, registrations and waivers necessary or appropriate for consummation of the
purchase and sale of the Shares and the Warrants and the consummation of the other transactions contemplated by the Transaction Documents to be consummated on or prior to the Closing Date, all of which shall be in full force and effect. 

(c) The Company shall have executed and delivered the Registration Rights Agreement. 
 (d) No judgment, writ, order, injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy court or judge,
or any order of or by any governmental authority, shall have been issued, and no action or proceeding shall have been instituted by any governmental authority, enjoining or preventing the consummation of the transactions contemplated hereby or in
the other Transaction Documents. 
  

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 (e) The Company shall have delivered a Certificate, executed on behalf of the Company by its Chief
Executive Officer or its Chief Financial Officer, dated as of the Closing Date, certifying to the fulfillment of the conditions specified in subsections (a), (b), (d), (e) and (h) of this Section 6.1. 
 (f) The Company shall have delivered a Certificate, executed on behalf of the Company by its Secretary, dated as of the Closing Date, certifying the
resolutions adopted by the Board of Directors of the Company approving the transactions contemplated by this Agreement and the other Transaction Documents, and the issuance of the Securities, certifying the current versions of the Certificate of
Incorporation and Bylaws of the Company and certifying as to the signatures and authority of Persons signing the Transaction Documents and related documents on behalf of the Company. 
 (g) The Investors shall have received an opinion from Wilson Sonsini Goodrich & Rosati, P.C., the Company’s counsel, dated as of the
Closing Date, in form and substance reasonably acceptable to the Investors and addressing such legal matters as the Investors may reasonably request. 
 (h) No stop order or suspension of trading shall have been imposed by the SEC or any other governmental or regulatory body with respect to public trading in the Common Stock. 
 6.2 Conditions to Obligations of the Company. The Company’s obligation to sell and issue the Shares and the Warrants at the Closing is
subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the following conditions, any of which may be waived by the Company: 
 (a) The representations and warranties made by the Investors in Sections 5.1 and 5.2 hereof shall be true and correct in all material respects when made, and shall be true and correct in all material respects on
the Closing Date with the same force and effect as if they had been made on and as of said date. The representations and warranties made by the Investors in Sections 5.3 through 5.11 hereof (the “Investment Representations”)
shall be true and correct in all respects when made, and shall be true and correct in all respects on the Closing Date with the same force and effect as if they had been made on and as of said date. The Investors shall have performed in all material
respects all obligations and conditions herein required to be performed or observed by them on or prior to the Closing Date. 
 (b) The
Investors shall have executed and delivered the Registration Rights Agreement. 
 (c) The Investors shall have delivered the Purchase Price
to the Company. 
 6.3 Termination of Obligations to Effect Closing; Effects. 
 (a) The obligations of the Company, on the one hand, and the Investors, on the other hand, to effect the Closing shall terminate as follows: 

(i) Upon the mutual written consent of the Company and the Investors; 
  

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 (ii) By the Company if any of the conditions set forth in Section 6.2 shall have become incapable
of fulfillment, and shall not have been waived by the Company; or 
 (iii) By an Investor (with respect to itself only) if any of the
conditions set forth in Section 6.1 shall have become incapable of fulfillment, and shall not have been waived by the Investor; 
 provided, however, that, except in the case of clause (i) above, the party seeking to terminate its obligation to effect the Closing shall not then be in breach of any of its representations, warranties, covenants or
agreements contained in this Agreement or the other Transaction Documents if such breach has resulted in the circumstances giving rise to such party’s seeking to terminate its obligation to effect the Closing. 
 (b) In the event of termination by the Company or any Investor of its obligations to effect the Closing pursuant to this Section 6.3, written
notice thereof shall forthwith be given to the other Investors and the other Investors shall have the right to terminate their obligations to effect the Closing upon written notice to the Company and the other Investors. Nothing in this
Section 6.3 shall be deemed to release any party from any liability for any breach by such party of the terms and provisions of this Agreement or the other Transaction Documents or to impair the right of any party to compel specific performance
by any other party of its obligations under this Agreement or the other Transaction Documents. 
 7. Covenants and Agreements of the
Company. 
 7.1 Reservation of Common Stock. The Company shall at all times reserve and keep available out of its authorized but
unissued shares of Common Stock, solely for the purpose of providing for the exercise of the Warrants, such number of shares of Common Stock as shall from time to time equal the number of shares sufficient to permit the exercise of the Warrants
issued pursuant to this Agreement in accordance with their respective terms. 
 7.2 No Conflicting Agreements. The Company will not
take any action, enter into any agreement or make any commitment that would conflict or interfere in any material respect with the Company’s obligations to the Investors under the Transaction Documents. 
 7.3 Listing of Underlying Shares and Related Matters. If the Company applies to have its Common Stock or other securities traded on any other
principal stock exchange or market, it shall include in such application the Shares and the Warrant Shares and will take such other action as is necessary to cause such Common Stock to be so listed. 
 7.4 Termination of Covenants. The provisions of Sections 7.2 through 7.5 shall terminate and be of no further force and effect on the date on
which the Company’s obligations under the Registration Rights Agreement to register or maintain the effectiveness of any registration covering the Registrable Securities (as such term is defined in the Registration Rights Agreement) shall
terminate. 
  

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 7.5 Removal of Legends. Upon the earlier of (i) (A) the registration for resale pursuant
to the Registration Rights Agreement and (B) receipt of a written certification from an Investor that Shares have been sold in accordance with the Plan of Distribution contained in the Registration Statement and that such Investor has delivered
or intends to deliver a current prospectus in compliance with the prospectus delivery requirements of the 1933 Act or (ii) Rule 144(k) becoming available the Company shall, upon an Investor’s written request, promptly cause
certificates evidencing the Shares sold (in the case of clause (i)) or the Investor’s Securities (in the case of clause (ii)) to be replaced with certificates which do not bear such restrictive legends, and Warrant Shares subsequently
issued upon due exercise of the Warrants shall not bear such restrictive legends provided the provisions of either clause (i) or clause (ii) above, as applicable, are satisfied with respect to such Warrant Shares. 
 7.6 Right of First Offer. Subject to the terms and conditions specified in this Section 7.7, the Company hereby grants to each Investor a
right of first offer to purchase its Pro Rata Share (as hereinafter defined) (in whole or in part) with respect to future sales by the Company of its shares (as hereinafter defined). For purposes of this Section 7.7, the Investor’s
“Pro Rata Share” of shares shall mean that number of shares that equals the proportion that (i) the number of shares of Common Stock purchased pursuant to this Agreement and then held by the Investor bears to (ii) the total
number of shares of Common Stock of the Company then outstanding. 
 Each time the Company proposes to raise funds through the private
placement of equity securities (the “Offered Shares”) during the period from the Closing Date to three years from the Closing Date, the Company shall first make an offering of such Offered Shares to the Investor in accordance with the
following provisions: 
 (a) The Company shall deliver a notice by confirmed facsimile transmission, certified mail or a nationally
recognized overnight courier service (“Notice”) to the Investor stating (i) its bona fide intention to offer such Offered Shares, (ii) the number of such Offered Shares to be offered, and (iii) the price and a summary of the
terms, if any, upon which it proposes to offer such Offered Shares. 
 (b) By written notification received by the Company within three
(3) business days after receipt of the Notice, the Investor may elect to purchase or obtain, at the price and on the terms specified in the Notice, up to its Pro Rata Share of such Offered Shares. 
 (c) If all Offered Shares that the Investor is entitled to obtain pursuant to Section 7.7(b) are not elected to be obtained as provided in
Section 7.7(b) hereof, the Company may, during the sixty (60)-day period following the expiration of the period provided in Section 7.7(b) hereof, offer the remaining unsubscribed portion of such Offered Shares to any person or persons at
a price not less than, and upon terms no more favorable to the offeree than those specified in the Notice. If the Company does not enter into an agreement for the sale of the Offered Shares within such period, or if such agreement is not consummated
within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such Offered Shares shall not be offered unless first reoffered to the Investor in accordance herewith. 
  

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 The right of first offer in this Section 7.7 shall not be applicable to (i) shares of Common
Stock (or options therefor) issuable or issued to employees, consultants or directors of the Company directly or pursuant to a stock option plan or restricted stock plan or other agreement approved by the Board of Directors and stockholders of the
Company, (ii) shares of Common Stock issued or issuable in or after a firm commitment underwritten public offering, (iii) shares of Common Stock issuable or issued upon exercise of options or warrants by their terms that were outstanding
as of the date hereof, (iv) securities issued or issuable to banks or equipment lessors, provided such issuances are (A) for other than primarily equity financing purposes and (B) approved by the Board of Directors,
(v) securities issued in connection with business combinations, licensing agreements, corporate partnering agreements, or similar agreements, provided such issuances are (A) for other than primarily equity financing purposes and
(B) approved by the Board of Directors, (vi) securities issued as dividends or distributions on the Company’s capital stock, (vii) securities issued to placement agents pursuant to arrangements approved by the Board of Directors
of the Company. 
 8. Survival and Indemnification. 
 8.1 Survival. The representations, warranties, covenants and agreements contained in this Agreement shall survive the Closing of the transactions contemplated by this Agreement for two years after the Closing.

 8.2 Indemnification. The Company agrees to indemnify and hold harmless each Investor and its Affiliates and their respective
directors, officers, employees and agents from and against any and all losses, claims, damages, liabilities and expenses (including without limitation reasonable attorney fees and disbursements and other expenses incurred in connection with
investigating, preparing or defending any action, claim or proceeding, pending or threatened and the costs of enforcement thereof) (collectively, “Losses”) to which such Person may become subject as a result of any breach of
representation, warranty, covenant or agreement made by or to be performed on the part of the Company under the Transaction Documents, and will reimburse any such Person for all such amounts as they are incurred by such Person. 
 8.3 Conduct of Indemnification Proceedings. Promptly after receipt by any Person (the “Indemnified Person”) of notice of any
demand, claim or circumstances which would or might give rise to a claim or the commencement of any action, proceeding or investigation in respect of which indemnity may be sought pursuant to Section 8.2, such Indemnified Person shall promptly
notify the Company in writing and the Company shall assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Person, and shall assume the payment of all fees and expenses; provided, however, that
the failure of any Indemnified Person so to notify the Company shall not relieve the Company of its obligations hereunder except to the extent that the Company is materially prejudiced by such failure to notify. In any such proceeding, any
Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless: (i) the Company and the Indemnified Person shall have mutually agreed to the
retention of such counsel; or (ii) in the reasonable judgment of counsel to such Indemnified Person representation of both parties by the 
  

 -17- 

 same counsel would be inappropriate due to actual or potential differing interests between them. The Company shall not be
liable for any settlement of any proceeding effected without its written consent, which consent shall not be unreasonably withheld, but if settled with such consent, or if there be a final judgment for the plaintiff, the Company shall indemnify and
hold harmless such Indemnified Person from and against any loss or liability (to the extent stated above) by reason of such settlement or judgment. Without the prior written consent of the Indemnified Person, which consent shall not be unreasonably
withheld, the Company shall not effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless
such settlement includes an unconditional release of such Indemnified Person from all liability arising out of such proceeding. 
 9.
Miscellaneous. 
 9.1 Successors and Assigns. This Agreement may not be assigned by a party hereto without the prior written
consent of the Company or the Investors, as applicable, provided, however, that (i) an Investor may assign its rights and delegate its duties hereunder in whole or in part to an Affiliate or to a third party acquiring some or all of its
Securities in a private transaction without the prior written consent of the Company or the other Investors, after notice duly given by such Investor to the Company provided, that no such assignment or obligation shall affect the obligations of such
Investor hereunder, and (ii) the Company may assign its rights and delegate its duties hereunder to any surviving or successor corporation in connection with a merger or consolidation of the Company with another corporation, or a sale, transfer
or other disposition of all or substantially all of the Company’s assets to another corporation, without the prior written consent of the Investors. The provisions of this Agreement shall inure to the benefit of and be binding upon the
respective permitted successors and assigns of the parties. 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. 
 9.2 Counterparts;
Faxes. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may also be executed via facsimile, which shall
be deemed an original. 
 9.3 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and
are not to be considered in construing or interpreting this Agreement. 
 9.4 Notices. Unless otherwise provided, any notice required
or permitted under this Agreement shall be given in writing and shall be deemed effectively given as hereinafter described (i) if given by personal delivery, then such notice shall be deemed given upon such delivery, (ii) if given by telex
or telecopier, then such notice shall be deemed given upon receipt of confirmation of complete transmittal, (iii) if given by mail, then such notice shall be deemed given upon the earlier of (A) receipt of such notice by the recipient or
(B) three days after such notice is deposited in first class mail, postage prepaid, and (iv) if given by an internationally recognized overnight air courier, then such notice shall be deemed given one Business Day after delivery to

  

 -18- 

 such carrier. All notices shall be addressed to the party to be notified at the address as follows, or at such other
address as such party may designate by ten days’ advance written notice to the other party: 
 If to the Company: 
 Applied Imaging Corp. 
 120 Baytech Drive

 San Jose, California 95134 
 Attention: President 
 Fax: 408-719-6401 
 With a copy to: 
 Wilson Sonsini Goodrich & Rosati, P.C. 
 650 Page Mill Road 
 Palo Alto, California
94304 
 Attention: David J. Saul, Esq. 
 Fax: 650-493-6811 
 If to the Investors: 
 to the addresses set forth on the signature pages hereto. 
 9.5 Expenses. The parties hereto shall
pay their own costs and expenses in connection herewith, except that the Company shall pay to Roaring Fork Capital SBIC L.P. (“Roaring Fork”) up to $10,000 of its reasonably documented legal fees, it being understood that Roaring
Fork’s counsel has represented solely Roaring Fork and not any other Investor or the Company. In the event that legal proceedings are commenced by any party to this Agreement against another party to this Agreement in connection with this
Agreement or the other Transaction Documents, the party or parties which do not prevail in such proceedings shall severally, but not jointly, pay their pro rata share of the reasonable attorneys’ fees and other reasonable out-of-pocket costs
and expenses incurred by the prevailing party in such proceedings. 
 9.6 Amendments and Waivers. Any term of this Agreement may be
amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Investors. Any amendment or waiver
effected in accordance with this paragraph shall be binding upon each holder of any Securities purchased under this Agreement at the time outstanding, each future holder of all such Securities, and the Company. 
 9.7 Publicity. Except as set forth below, no public release or announcement concerning the transactions contemplated hereby shall be issued by the
Company or the Investors without the prior consent of the Company (in the case of a release or announcement by the Investors) or the Investors (in the case of a release or announcement by the Company) (which consents shall not be unreasonably
withheld), except as such release or announcement may be required by law or the applicable rules or regulations of any securities exchange or securities market, in which case the 
  

 -19- 

 Company or the Investors, as the case may be, shall allow the Investors or the Company, as applicable, to the extent
reasonably practicable in the circumstances, reasonable time to comment on such release or announcement in advance of such issuance. Promptly following the Closing Date, the Company shall issue a press release disclosing the consummation of the
transactions contemplated by this Agreement and file a Current Report on Form 8-K attaching the press release described in the foregoing sentence as well as copies of the Transaction Documents. In addition, the Company will make such other
filings and notices in the manner and time required by the SEC. Notwithstanding the foregoing, the Company shall not publicly disclose the name of any Investor, or include the name of any Investor in any filing with the SEC (other than the
Registration Statement and any exhibits to filings made in respect of this transaction in accordance with periodic filing requirements under the 1934 Act) or any regulatory agency, without the prior written consent of such Investor, except to the
extent such disclosure is required by law or trading market regulations, in which case the Company shall provide the Investors with prior notice of such disclosure. 
 9.8 Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof but shall be interpreted as if it were written so as to be enforceable to the maximum extent permitted by applicable law, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by applicable law, the parties hereby waive any provision of law which renders any provision hereof prohibited or unenforceable in any respect.

 9.9 Entire Agreement. This Agreement, including the Exhibits, and the other Transaction Documents constitute the entire agreement
among the parties hereof with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter hereof and thereof. 
 9.10 Further Assurances. The parties shall execute and deliver all such further instruments and documents and take all such other actions as may
reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment of the agreements herein contained. 
 9.11 Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of California without regard to the choice of law principles
thereof. Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the courts of the State of California located in Santa Clara County and the United States District Court for the Northern District of California for the purpose
of any suit, action, proceeding or judgment relating to or arising out of this Agreement and the transactions contemplated hereby. Service of process in connection with any such suit, action or proceeding may be served on each party hereto by the
same methods as are specified for the giving of notices under this Agreement. Each of the parties hereto irrevocably consents to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court. Each
party hereto irrevocably waives any objection to the laying of venue of any such suit, action or proceeding brought in such courts and irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought
in an inconvenient forum. EACH 
  

 -20- 

 OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT AND
REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER. 
 9.12 Independent Nature of Investors’ Obligations
and Rights. The obligations of each Investor under any Transaction Document are several and not joint with the obligations of any other Investor, and no Investor shall be responsible in any way for the performance of the obligations of any other
Investor under any Transaction Document. The decision of each Investor to purchase Securities pursuant to the Transaction Documents has been made by such Investor independently of any other Investor. Nothing contained herein or in any Transaction
Document, and no action taken by any Investor pursuant thereto, shall be deemed to constitute the Investors as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Investors are in any way
acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents. Each Investor acknowledges that no other Investor has acted as agent for such Investor in connection with making its
investment hereunder and that no Investor will be acting as agent of such Investor in connection with monitoring its investment in the Securities or enforcing its rights under the Transaction Documents. Each Investor shall be entitled to
independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Investor to be joined as an additional party
in any proceeding for such purpose. The Company acknowledges that each of the Investors has been provided with the same Transaction Documents for the purpose of closing a transaction with multiple Investors and not because it was required or
requested to do so by any Investor. 
 [signature page follows] 
  

 -21- 

 IN WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized officers to
execute this Agreement as of the date first above written. 
  

					
	The Company:	 	APPLIED IMAGING CORP.
			
		 	By:	 	 /s/ Terence Griffin

			
		 		 	 Terence Griffin
 Corporate Vice President and
 Chief
Financial Officer

					
	The Investors:	 	Entity:	 	 Roaring Fork Capital SBIC, L.P.

		 		 	(if applicable)
			
		 	By:	 	 /s/ Eugene C. McColley

			
		 	Name:	 	 Eugene C. McColley

			
		 	Title:	 	 Manager of the General Partner

		 		 	(if applicable)

 Purchase Price: $1,023,610.56 
 Number of Shares: 609,292 
 Number of Warrants: 152,323 
  

					
	The Investors:	 	Entity:	 	  

		 		 	(if applicable)
			
		 	By:	 	 /s/ Susan K. Huebner

			
		 	Name:	 	 Susan K. Huebner

			
		 	Title:	 	  

		 		 	(if applicable)

 Purchase Price: $25,200 
 Number of Shares: 15,000 
 Number of Warrants: 3,750 
  

					
	The Investors:	 	Entity:	 	  

		 		 	(if applicable)
			
		 	By:	 	 /s/ Elizabeth A. Lund and Kent J. Lund, TIC

			
		 	Name:	 	 Elizabeth A. Lund and Kent J. Lund, TIC

			
		 	Title:	 	  

		 		 	(if applicable)

 Purchase Price: $24,998.40 
 Number of Shares: 14,880 
 Number of Warrants: 3,720 
  

					
	The Investors:	 	Entity:	 	  

		 		 	(if applicable)
			
		 	By:	 	 /s/ Steve Plissey

			
		 	Name:	 	 Steve Plissey

			
		 	Title:	 	  

		 		 	(if applicable)

 Purchase Price: $29,998.08 
 Number of Shares: 17,856 
 Number of Warrants: 4,464 

					
	The Investors:	 	Entity:	 	  

		 		 	(if applicable)
			
		 	By:	 	 /s/ George Johnson

			
		 	Name:	 	 George Johnson

			
		 	Title:	 	  

		 		 	(if applicable)

 Purchase Price: $24,998.40 
 Number of Shares: 14,880 
 Number of Warrants: 3,720 
  

					
	The Investors:	 	Entity:	 	  

		 		 	(if applicable)
			
		 	By:	 	 /s/ John David Kucera

			
		 	Name:	 	 John David Kucera

			
		 	Title:	 	  

		 		 	(if applicable)

 Purchase Price: $9,999.36 
 Number of Shares: 5,952 
 Number of Warrants: 1,488 
  

					
	The Investors:	 	Entity:	 	  

		 		 	(if applicable)
			
		 	By:	 	 /s/ Ronald and Victoria M. Eddy

			
		 	Name:	 	 Ronald and Victoria M. Eddy

			
		 	Title:	 	  

		 		 	(if applicable)

 Purchase Price: $9,999.36 
 Number of Shares: 5,952 
 Number of Warrants: 1,488 
  

					
	The Investors:	 	Entity:	 	 Harner Living Trust

		 		 	(if applicable)
			
		 	By:	 	 /s/ Douglas Harner

			
		 	Name:	 	 Douglas Harner

			
		 	Title:	 	 Trustee

		 		 	(if applicable)

 Purchase Price: $50,400.00 
 Number of Shares: 30,000 
 Number of Warrants: 7,500 

					
	The Investors:	 	Entity:	 	  

		 		 	(if applicable)
			
		 	By:	 	 /s/ Curtis Walker

			
		 	Name:	 	 Curtis Walker

			
		 	Title:	 	  

		 		 	(if applicable)

 Purchase Price: $50,400.00 
 Number of Shares: 30,000 
 Number of Warrants: 7,500 
  

					
	The Investors:	 	Entity:	 	 Nancy Nita Macy Trust

		 		 	(if applicable)
			
		 	By:	 	 /s/ Nancy Nita Macy

			
		 	Name:	 	 Nancy Nita Macy

			
		 	Title:	 	 Trustee

		 		 	(if applicable)

 Purchase Price: $25,200 
 Number of Shares: 15,000 
 Number of Warrants: 3,750 
  

					
	The Investors:	 	Entity:	 	 Joseph Gerber IRA

		 		 	(if applicable)
			
		 	By:	 	 /s/ Joseph Gerber

			
		 	Name:	 	 Joseph Gerber

			
		 	Title:	 	 Owner

		 		 	(if applicable)

 Purchase Price: $25,200 
 Number of Shares: 15,000 
 Number of Warrants: 3,750 

 EXHIBIT A 
 Warrants 

 EXHIBIT B 
 Registration Rights Agreement

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