Document:

Exhibit 10.62

 

WARRANT TRANSFER AGREEMENT

 

THIS WARRANT TRANSFER AGREEMENT
(this “Agreement”), dated as of October 17, 2022, is entered into by and among (i) Sorrento Therapeutics, Inc., a Delaware
corporation (“Sorrento”), (ii) Vickers Venture Fund VI Pte Ltd and Vickers Venture Fund VI (Plan) Pte Ltd, each a Singapore
company (together, the “Sponsors”), and (iii) solely for purposes of Section 1.3, Vickers Vantage Corp. I (the
 “Company”) and Maxim Group LLC (“Maxim”).

 

WHEREAS, the Company
and Continental Stock Transfer & Trust Company, have entered into that certain Warrant Agreement, dated as of January 6, 2021 (as
such agreement may be amended or amended and restated in accordance with its terms, the “Warrant Agreement”);

 

WHEREAS, the Sponsors
are the holders of warrants to purchase ordinary shares, par value $0.0001, of the Company (the “Ordinary Shares”)
covering an aggregate of 6,840,000 Ordinary Shares at an exercise price of $11.50 per share (the “Warrants”), issued
pursuant to the Warrant Agreement;

 

WHEREAS, the Company
is also a party to (i) that certain Underwriting Agreement, dated as of January 6, 2021 by and between the Company and Maxim (the “Underwriting
Agreement”); (ii) that certain Agreement and Plan of Merger, dated as of March 17, 2022 (as amended, the “Merger Agreement”
and the transactions contemplated thereby, the “Business Combination”), with Vantage Merger Sub Inc., a Delaware corporation
and wholly owned subsidiary of the Company, and Scilex Holding Company, a Delaware corporation and wholly owned subsidiary of Sorrento
(“Scilex”); and (iii) that certain Sponsor Support Agreement, dated as of March 17, 2022 (as amended, the “Sponsor
Support Agreement”) with the Sponsors, those persons listed on Schedule I thereto and Scilex;

 

WHEREAS, if, prior to
the consummation of the Business Combination, the public shareholders of Ordinary Shares shall have redeemed more than 50% of such shares
as were outstanding as of March 17, 2022, then in addition to the forfeiture of Warrants by the Sponsors contemplated by the Sponsor Support
Agreement, the Sponsors desire to transfer and convey to Sorrento, and Sorrento desires to accept and acquire all right, title and interest
in and to all or a portion of the Warrants (as equitably adjusted from time to time in respect of any change in the outstanding Ordinary
Shares into a different number, class or series, including by reason of any reclassification, recapitalization, share split (including
a reverse share split), or combination, exchange, readjustment of shares, or similar transaction, or any share dividend or distribution
paid in shares) as determined in accordance with the transfer schedule (the “Transfer Schedule”) set forth in Exhibit
A hereto;

 

WHEREAS, concurrently
with the execution of this Agreement and in consideration therefor, Sorrento has agreed pursuant to a letter agreement (the “Funding
Commitment Letter”) dated October 17, 2022 in the form attached hereto as Exhibit B to provide such financing as may
be necessary to satisfy the closing condition under the Merger Agreement that requires the Company to have at least $5,000,001 in net
tangible assets (as determined in accordance with Rule 3a51-1(g)(1) of the Exchange Act) immediately after the Effective Time (as defined
in the Merger Agreement), up to a maximum of $10,000,000;

 

     

     

    

 

WHEREAS, concurrent herewith,
the Company and Sorrento are entering into a Letter Agreement (the “Lock-up Release”) to provide that certain shares
owned by the Sponsors may be released from the lock-up restrictions in an amount necessary to satisfy the minimum public float requirement
under the Nasdaq Listing Standards; and

 

WHEREAS, Sorrento desires
to be bound and subject to the terms and conditions of the Warrant Agreement, including, for clarity, the transfer restrictions set forth
in Section 5 of the Warrant Agreement.

 

NOW THEREFORE, in consideration
of the mutual representations, warranties, covenants and agreements set forth herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement agree as follows:

 

ARTICLE
I

TRANSFER OF WARRANTS

 

1.1            Transaction. Subject to the terms and conditions set forth herein, each Sponsor hereby agrees, subject to and contingent upon
the Closing (as defined in the Merger Agreement), if, as of immediately prior to the Closing, the holders of Ordinary Shares issued and
outstanding as of March 17, 2022 shall have exercised redemption rights in conjunction with the shareholder vote on the Extension Amendment
or the Parent Shareholder Approval Matters (each as defined in the Sponsor Support Agreement), then automatically and without any further
action by any other person, such Sponsor shall transfer a number of Warrants equal to such Sponsor’s proportionate share (as set
forth in Exhibit C) of the applicable number of Warrants to be transferred to Sorrento as set forth across from the corresponding
redemption percentage in the Transfer Schedule, held by such Sponsor to Sorrento immediately prior to Closing (the “Transfer”
and such Warrants so transferred, the “Transferred Warrants”). The Sponsors’ obligation to transfer the Transferred
Warrants pursuant to this Agreement is in addition to and not in limitation of the forfeiture obligations set forth in Section 1.5 of
the Sponsor Support Agreement.

 

1.2           
Transfer Obligations. On the date of the Extraordinary General Meeting of the shareholders of the Company in connection with
the Business Combination, as such meeting date shall be set forth in the proxy statement/prospectus to be delivered by the Company to
its shareholders in connection with the Business Combination, the Company shall notify the Sponsors and Sorrento of the number of Ordinary
Shares that have been redeemed by the Company’s public shareholders and the resulting number of Warrants to be transferred from
the Sponsors to Sorrento pursuant to the terms of this Agreement. In connection with the Transfer, the Sponsors shall take all actions
necessary to surrender the Transferred Warrants to the Warrant Agent (as defined in the Warrant Agreement) and cause such Warrant Agent
to issue in exchange therefor one or more new Warrants, or book entry positions, in the name of Sorrento, including by execution and delivery
by Sponsors of the warrant assignment in substantially the form attached hereto as Exhibit D with such Transfer to be effective as of
and contingent upon the Closing. Upon the Transfer of the Transferred Warrants to Sorrento, Sorrento hereby agrees to be bound by terms
of the Warrant Agreement.

 

    -2-

     

    

 

1.3           
 Consent and Waiver. The Company and Maxim, as applicable, hereby (a) consent to the transfer of the Warrants by the Sponsors
to Sorrento in accordance with Section 5.6 of the Warrant Agreement, and (b) waive the transfer restrictions, solely with respect to the
Transferred Warrants in connection with the Transfer, set forth in the Underwriting Agreement, the Sponsor Support Agreement and any other
contract or agreement to which the Company and/or Maxim is a party that would otherwise result in restrictions substantially similar to
those set forth in the Underwriting Agreement and the Sponsor Support Agreement.

 

1.4           
Further Assurances. From time to time after the date hereof, Sorrento and Sponsors, without charge to the other, shall perform
such other acts, and shall execute and acknowledge and shall furnish such other documents, instruments, materials and/or information that
such other party reasonably may request in order to effect the intent of, and the consummation of the transactions provided in, this Agreement,
including, without limitation, those actions necessary to transfer to Sorrento good and marketable title to the Transferred Warrants,
free and clear of all claims, liens and other encumbrances.

 

ARTICLE
II

REPRESENTATIONS AND WARRANTIES OF SPONSORS

 

The Sponsors hereby, jointly
and severally, represent and warrant to Sorrento hereto that:

 

2.1           
Capitalization. Each Sponsor is the only owner (record and beneficial) of the Transferred Warrants, and has good and marketable
title to the Transferred Warrants, free and clear of all liens, encumbrances, options and claims and upon transfer of the Transferred
Warrants held by such Sponsor to Sorrento in accordance with this Agreement, Sorrento will own, and have good and marketable title to,
the Transferred Warrants held by each Seller, free and clear of all liens, encumbrances, options and claims.

 

2.2           
Authority of Sponsors; No Conflict. Each Sponsor has the full right, power, legal capacity and authority to perform its obligations
under this Agreement, including transferring the Transferred Warrants as described herein to Sorrento pursuant to this Agreement. The
execution and delivery of this Agreement and such Seller’s performance hereunder will not conflict with, or breach or result in
a default under, any laws or any agreement by which each Sponsor is bound or create any lien upon any of such Sponsor’s properties
or assets. No filing, notice, authorization or approval, governmental or otherwise, is necessary to enable such Sponsor to enter into,
and to perform such Sponsor’s obligations under this Agreement. This Agreement has been duly executed and delivered by each Sponsor
and, assuming due authorization, execution and delivery by Sorrento, constitutes the valid, legal and binding obligation of such Sponsor,
enforceable against such Sponsor in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles.

 

    -3-

     

    

 

2.3            Compliance
with Applicable Law. There is no claim, action, suit, proceeding, arbitration, investigation or inquiry pending or, to the best
of each Sponsor knowledge, threatened, against or involving such Sponsor with respect to this Agreement, the transactions
contemplated hereby, or the Transferred Warrants, before any federal, state, municipal, foreign, or other court or governmental or
administrative body or agency, or any private arbitration tribunal.

 

2.4          
Securities Law. Subject to the truth and accuracy of the representations of Sorrento set forth in Section 3.3 hereof, the consummation
of the transactions contemplated hereby will not violate the Securities Act of 1933, as amended (the “Securities Act”),
or any blue sky laws.

 

2.5           
Disclosure. No Sponsor has made any untrue statement of a material fact related to a specific representation or warranty contained
in this Agreement, nor has any such Sponsor omitted to state any material fact necessary in order to make the specific statements contained
in this Agreement not misleading.

 

ARTICLE
III

REPRESENTATIONS AND WARRANTIES OF SORRENTO

 

Sorrento represents and warrants
to Sponsors that:

 

3.1           
Authority of Sorrento. Sorrento has the requisite power, capacity and authority to execute and deliver this Agreement, to perform
its obligations under this Agreement and to consummate the transfer of the Transferred Warrants. This Agreement has been duly executed
and delivered by Sorrento and, assuming due authorization, execution and delivery by Sponsors, constitutes the valid and binding obligation
of Sorrento, enforceable against it in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles.

 

3.2           
Compliance with Applicable Law. There is no claim, action, suit, proceeding, arbitration, investigation or inquiry pending
or, to the best of Sorrento’s knowledge, threatened, against or involving Sorrento with respect to this Agreement, the transactions
contemplated hereby, or the Transferred Warrants, before any federal, state, municipal, foreign, or other court or governmental or administrative
body or agency, or any private arbitration tribunal.

 

3.3           
Securities Law.

 

(a)             
Sorrento is an “accredited investor” within the meaning of Rule 501(a) of Regulation D promulgated under the Securities
Act and the Transferred Warrants to be acquired under this Agreement are being acquired for its own account as principal and not with
a view to distribution of the Transferred Warrants or the shares of common stock underlying the Transferred Warrants. Sorrento will not
offer, sell, transfer, pledge or otherwise dispose of the Transferred Warrants or the shares of common stock underlying the Transferred
Warrants, unless pursuant to a transaction either registered, or exempt from registration, under the Securities Act and otherwise in compliance
with applicable state securities or “blue sky” laws.

 

(b)             
Sorrento understands that the transfer of the Transferred Warrants to it has not been registered under the Securities Act or any
applicable state securities laws, by reason of a specific exemption under the provisions of such laws.

 

(c)             
 Sorrento has such knowledge and experience in financial and business matters so as to be capable of evaluating the merits and
risks of its investment in the Transferred Warrants and the shares of common stock underlying the Transferred Warrants, and Sorrento is
capable of bearing the economic risks of such investment.

 

    -4-

     

    

 

ARTICLE
IV

INDEMNIFICATION; SURVIVAL 

 

4.1           
Survival of Representations and Warranties. All of the representations and warranties contained in this Agreement shall survive
the Transfer indefinitely. The covenants of Sorrento and Sponsors contained in this Agreement shall survive the Transfer in accordance
with their respective terms. None of the representations and warranties set forth in this Agreement shall be modified or affected by any
investigation at any time made by or on behalf of any party hereto. All rights to indemnification contained in this Agreement shall survive
the Transfer in accordance with their terms.

 

4.2           
Indemnification. Each party shall indemnify and hold harmless the other parties hereto, from and against any and all damages,
costs, liabilities and reasonable attorneys’ fees suffered as a result of or in connection with the indemnifying party’s breach
of its obligations, representations and warranties under this Agreement. Said indemnification is conditioned on the indemnifying party
being promptly notified in writing of such claim. The indemnifying party shall have sole control of the defense (but not settlement) thereof.
The party seeking indemnification shall furnish all information available for such defense and shall cooperate in any defense and settlement
thereof.

 

ARTICLE
V

MISCELLANEOUS

 

5.1           
Assignment. Neither this Agreement nor any of the rights, interests, or obligations under this Agreement shall be assigned
by any party (whether by operation of law or otherwise) without the prior written consent of the other party. Subject only to the preceding
sentence, this Agreement will be binding upon, inure to the benefit of, and be enforceable by and against the parties and their respective
successors, heirs, personal representatives, executors and permitted assigns.

 

5.2           
Construction. Each party acknowledges and agrees that it has been represented by legal counsel in the negotiation and delivery
of this Agreement and that this Agreement has been drafted and prepared through the efforts of all parties and the rule of construction
that any vague or ambiguous terms are to be construed against the party drafting such terms shall not be applied to any party to this
Agreement.

 

5.3           
Terms. Common nouns and pronouns will be deemed to refer to the masculine, feminine, neuter, singular, and plural, as the identity
of the person or persons, firm, or corporation may in the context require.

 

    -5-

     

    

 

5.4            Governing
Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of New York
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another
jurisdiction. Each party hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this
Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern
District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each party hereby waives
any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be
served upon such party may be served by transmitting a copy thereof by registered or certified mail, return receipt requested,
postage prepaid, addressed to it at the address set forth across such party’s signature pages hereto. Such mailing shall be
deemed personal service and shall be legal and binding upon such party in any action, proceeding or claim.

 

5.5           
Specific Enforcement. The parties hereto agree that irreparable damage may occur in the event that any of the provisions of
this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the
parties hereto shall be entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically
the terms and provisions of this Agreement in the chancery court or any other state or federal court within the State of New York, this
being in addition to any other remedy to which such party is entitled at Law or in equity.

 

5.6           
Entire Agreement; Third Party Beneficiaries. This Agreement constitutes the entire understanding between the parties with respect
to the Transfer of the Transferred Warrants and supersedes all prior agreements and understandings, both written and oral, among the parties
with respect to the subject matter of this Agreement. Sponsors are not relying on any representations or warranties of Sorrento not otherwise
specifically set forth in this Agreement. No provision of this Agreement is intended to confer upon any person other than the parties
hereto any rights or remedies hereunder.

 

5.7           
Amendment and Waiver. Except as otherwise expressly provided herein, any provision of this Agreement may be amended or modified
and the observance of any provision of this Agreement may be waived (either generally or any particular instance and either retroactively
or prospectively) only with the written consent of the parties or, with respect to a waiver, with the written consent of the party against
whom such waiver is sought. The failure of any party to enforce its rights under this Agreement at any time for any period shall not be
construed as a waiver of such rights.

 

5.8           
Severability. In the event that any of the provisions of this Agreement shall be held by a court or other tribunal of competent
jurisdiction to be illegal, invalid, or unenforceable, to any extent, such provisions shall be limited or eliminated to the minimum extent
necessary so that this Agreement shall otherwise remain in full force and effect and enforceable.

 

5.9           
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but both of which
together shall constitute one and the same instrument. Transmission by facsimile or electronic mail of an executed counterpart of this
Agreement shall be deemed to constitute due and sufficient delivery of such counterpart.

 

    -6-

     

    

 

5.10        
 Expenses. Each party hereto shall bear its own costs and expenses in connection with this Agreement and the transactions contemplated
hereby, including all legal, accounting, financial advisory, consulting and all other fees and expenses of third parties.

 

5.11         
Headings. Headings and captions are for convenience only and are not to be used in the interpretation of this Agreement.

 

5.12          Termination.
This Agreement shall terminate and be of no further effect if any of the Merger Agreement, the Funding Commitment Letter or the Lock-up
Release is terminated in accordance with its terms.

 

*****

 

    -7-

     

    

 

IN WITNESS WHEREOF, the parties
have caused this Agreement to be executed by an authorized person as of the date first written above.

 

	 	Sorrento therapeutics, inc. 
	 	 
	 	By:	/s/ Henry Ji, Ph.D.
	 	Name:	Henry Ji, Ph.D.
	 	Its:	Chief Executive Officer

 

	 	Address:	4955 Directors Place
	 	 	San Diego, CA 92121

 

	 	SPONSORS:
	 	 
	 	Vickers venture fund vi Pte ltd 
	 	 
	 	By:	/s/ Finian Tan
	 	Name:	Finian Tan
	 	Its:	Managing Member

 

	 	Address:	1 Harbourfront Avenue, #16-06 Keppel Bay Tower, Singapore, 098632 Singapore

 

	 	Vickers venture vi (plan) pte ltd 
	 	 
	 	By:	/s/ Finian Tan
	 	Name:	Finian Tan
	 	Its:	Managing Member

 

	 	Address:	1 Harbourfront Avenue, #16-06 Keppel Bay Tower, Singapore, 098632 Singapore

 

[Signature Page to Warrant
Transfer Agreement]

 

     

     

    

 

	 	COMPANY:
	 	 
	 	Vickers VANTAGE CORP. I, SOLELY FOR PURPOSES OF SECTION 1.3 
	 	 
	 	By:	/s/ Jeffrey Chi
	 	Name:	Jeffrey Chi
	 	Its:	Chief Executive Officer

 

	 	Address:	1 Harbourfront Avenue, #16-06 Keppel Bay Tower, Singapore, 098632 Singapore

 

	 	MAXIM GROUP LLC
	 	 
	 	By:	/s/ Clifford A. Teller
	 	 	Name: Clifford A. Teller
	 	 	Title: Co-President

 

     

     

    

 

Exhibit A

 

TRANSFER Schedule

 

	Redemption	 	Number of

 Warrants to be

 Transferred to

 Sorrento	 	 	Number of

 Warrants to be

 Retained by

 Sponsors	 	 	Total Warrants	 
	90% or greater	 	 	3,104,000	 	 	 	1,000,000	 	 	 	4,104,000	 
	85% to 89.99%	 	 	2,600,000	 	 	 	1,504,000	 	 	 	4,104,000	 
	75% to 84.99%	 	 	2,052,000	 	 	 	2,052,000	 	 	 	4,104,000	 
	50% to 74.99%	 	 	3,400,000	 	 	 	3,440,000	 	 	 	6,840,000	 
	Below 50%	 	 	-	 	 	 	6,840,000	 	 	 	6,840,000	 

 

     

     

    

 

Exhibit B

 

FUNDING COMMITMENT LETTER

 

     

     

    

 

Exhibit C

 

Ownership Schedule

 

     

     

    

 

Exhibit D

 

warrant assignmentExhibit 10.63

 

DEBT CONTRIBUTION AGREEMENT

 

This Debt Contribution Agreement
(this “Agreement”) is made and entered into as of October 17, 2022 by and among Vickers Vantage Corp. I, a Cayman Islands
exempted company, (the “Company”), Vickers Venture Fund VI (Plan) Pte Ltd (“Sponsor One”) and Vickers
Venture Fund VI Pte Ltd (“Sponsor Two” and, together with Sponsor One, the “Sponsors”). Each of
the Company, Sponsor One and Sponsor Two are each sometimes referred to herein as a “Party” and all of them as “Parties.”

 

Recitals:

 

WHEREAS, the Company is indebted to the
Sponsors for payment of certain outstanding loans as set forth on Schedule I hereto (and as such schedule and amounts may be updated pursuant
to the terms hereof, the “Company Obligations”);

 

WHEREAS, the Company
is party to that certain Agreement and Plan of Merger dated as of March 17, 2022 (as amended, the “Merger Agreement”
and the transactions contemplated thereby, the “Business Combination”), with Vantage Merger Sub Inc., a Delaware corporation
and wholly owned subsidiary of the Company, and Scilex Holding Company, a Delaware corporation (“Scilex”);

 

WHEREAS, the Merger
Agreement provides that prior to the Business Combination the Company will redomesticate as a Delaware corporation (the “Domestication”);

 

WHEREAS, the Company
and the Sponsors desire, immediately prior to the Business Combination but after the Domestication, to contribute the Company Obligations
in exchange for the issuance of shares of common stock, par value $0.0001 per share, of the Company (“Common Stock”)
on the terms and conditions set forth herein.

 

NOW, THEREFORE, in
consideration of the foregoing recitals and the mutual promises set forth in this Agreement, and for other good and valuable consideration
the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement agree as follows:

 

1.       Cancellation of Company Obligations. 

 

a.       Not
less than three business days prior to the closing of the transactions contemplated by the Merger Agreement, the Sponsors shall deliver
to the Company an updated Schedule 1 which shall reflect all loans and other amounts payable by the Company (including all accrued
and unpaid interest, as and if applicable) to the Sponsors as of and including the date that is immediately prior to the Closing Date
(as defined in the Merger Agreement) and references in this Agreement to the “Outstanding Obligations” shall mean the Outstanding
Obligations as so updated. 

 

b.       The
Sponsors hereby agree that immediately prior to the Business Combination, the Company Obligations owed to each of them by the Company
shall be contributed by the Sponsors to the Company in exchange for the issuance of that number of shares of Common Stock determined by
dividing the Company Obligations by $10.00 (the “Contribution Shares”) to the Sponsors immediately prior to the consummation
of the Business Combination. Fractional shares shall be rounded up to the nearest whole share. The Company acknowledges the contribution
of the Company Obligations and any accrued and unpaid interest.

 

2.       Issuance
of Common Stock. Upon execution by the Sponsors of this Agreement and the contribution of the Company Obligations, at the Effective
Time the Company agrees to instruct its transfer agent to issue to the Sponsors the Contribution Shares in amounts among the parties
as instructed in writing.

 

3.       Registration
Rights. The Company shall provide the Sponsors with registration rights pursuant to the terms of the Amended and Restated Registration
Rights Agreement to be entered into in connection with the closing of the Business Combination (the “Registration Rights Agreement”).
The Company agrees that all of the Contribution Shares shall be deemed “Registrable Securities” as such term is defined in
the Registration Rights Agreement.

 

     

     

    

 

4.       Release
of Claim. Other than the Sponsor’s rights to receive the Contribution Shares, each of the Sponsors, for itself, hereby releases
and forever discharges the Company of and from any and all charges, complaints, actions, grievances, causes of action, suits, liabilities,
obligations, promises, controversies, damages, losses, debts and expenses (including attorney’s fees and costs) and claims in law
or equity of any nature whatsoever, known or unknown, suspected or unsuspected, Sponsor has related to the Company Obligations other than
pursuant to Section 3 hereof. Each of the Sponsors also waives any rights arising from any past or present defaults under the Company
Obligations. Each of the Sponsors represents and warrants that prior to this Agreement, it alone was entitled to any payment under the
Company Obligations and that it has not assigned any of the Company Obligations or any right of action relating thereto to any person
who may claim against the Company.

 

5.       Representations
of the Sponsors.

 

a.       Organization,
Good Standing and Qualification. Each of the Sponsors is a company, duly organized, validly existing and in good standing under the
laws of Singapore.

 

b.       Authorization;
Binding Obligations. Each Sponsor has all requisite legal and corporate power and authority to execute and deliver this Agreement
and to carry out its provisions. All corporate action on the Sponsor’s part required for the authorization and delivery of this
Agreement has been taken. This Agreement, when executed and delivered, will be a valid and binding obligation of the Sponsors, enforceable
in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws
of general application affecting enforcement of the Sponsor’s rights and (ii) as limited by general principles of equity that
restrict the availability of equitable remedies.

 

c.       Securities
Act. Each of the Sponsors understands that the Contribution Shares are not registered under the Securities Act of 1933, as amended
(the “Securities Act”) and that the issuance thereof to the Sponsors is intended to be exempt from registration under
the Securities Act pursuant to Section 4(a)(2) of the Securities Act (“Section 4(a)(2)”) and Regulation D promulgated
under the Securities Act (“Regulation D”). Each of the Sponsors represents and warrants that it is an “accredited
investor” as such term is defined in Rule 501 of Regulation D or, if not an accredited investor, otherwise meets the suitability
requirements of Regulation D and Section 4(a)(2). Each of the Sponsors agrees to provide documentation to the Company prior to Closing
as may be requested by the Company to confirm compliance with Regulation D and/or Section 4(a)(2), including, without limitation, a letter
of investment intent or similar representation letter and a completed investor questionnaire. Each certificate representing the Contribution
Shares issued to the Sponsors shall be endorsed with the following legends, in addition to any other legend required to be placed thereon
by applicable federal or state securities laws or pursuant to the Registration Rights Agreement:

 

“THIS SECURITY HAS
BEEN ACQUIRED FOR INVESTMENT AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“SECURITIES ACT”),
OR APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS.”

 

“TRANSFER OF THESE
SECURITIES IS PROHIBITED UNLESS A REGISTRATION STATEMENT UNDER THE SECURITIES ACT WITH RESPECT TO SUCH SECURITY SHALL THEN BE IN EFFECT
AND SUCH TRANSFER HAS BEEN QUALIFIED UNDER ALL APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS, OR AN EXEMPTION THEREFROM SHALL
BE AVAILABLE UNDER THE ACT AND SUCH LAWS.”

 

Each of the Sponsors acknowledges
that neither the SEC, nor the securities regulatory body of any state or other jurisdiction, has received, considered or passed upon the
accuracy or adequacy of the information and representations made in this Agreement.

 

Each of the Sponsors
acknowledges that such Sponsor has carefully reviewed such information as such Sponsor has deemed necessary to evaluate an
investment in the Company and its securities, and, that all information required to be disclosed to it under Regulation D has been
furnished to such Sponsor by the Company. To the full satisfaction of such Sponsor, it has been furnished all materials that such
Sponsor has requested relating to the Company and the issuance of the Contribution Shares hereunder, and each of the Sponsors has
been afforded the opportunity to ask questions of the Company’s representatives to obtain any information necessary to verify
the accuracy of any representations or information made or given to such Sponsor.

 

    2

     

    

 

Each of the Sponsors understands
that the Cancellation Shares may not be sold, transferred, or otherwise disposed of without registration under the Securities Act or an
exemption therefrom, and that in the absence of an effective registration statement covering the Contribution Shares or any available
exemption from registration under the Securities Act, the Contribution Shares may have to be held indefinitely. Each of the Sponsors further
acknowledges that the Contribution Shares may not be sold pursuant to Rule 144 promulgated under the Securities Act unless all of the
conditions of Rule 144 are satisfied (including, without limitation, the Company’s compliance with the reporting requirements under
the Securities Exchange Act of 1934, as amended (“Exchange Act”)).

 

Each of the Sponsors agrees
that, notwithstanding anything contained herein to the contrary, the warranties, representations, agreements and covenants of the Sponsors
under this Section 5 shall survive the closing of this Agreement.

 

Each of the Sponsors has substantial
experience in evaluating and investing in private placement transactions of securities in companies similar to the Company so that it
is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests. The
Sponsors must bear the economic risk of this investment indefinitely unless the Contribution Shares are registered pursuant to the Securities
Act, or an exemption from registration is available.

 

Each of the Sponsors is acquiring
the Contribution Shares for its own account for investment only, and not with a view towards their distribution.

 

Each of the Sponsors is an
accredited investor within the meaning of Regulation D under the Securities Act.

 

Each of the Sponsors acknowledges
and agrees that the Contribution Shares are “restricted securities” as defined in Rule 144 promulgated under the Securities
Act as in effect from time to time and must be held indefinitely unless they are subsequently registered under the Securities Act or an
exemption from such registration is available. Sorrento has been advised or is aware of the provisions of Rule 144, which permits limited
resale of shares purchased in a private placement subject to the satisfaction of certain conditions, including, among other things: the
availability of certain current public information about the Company, the resale occurring following the required holding period under
Rule 144 and the number of shares being sold during any three-month period not exceeding specified limitations.

 

d.       Each
Sponsor further represents and warrants to the Company that the Sponsors are the sole owners of all right, title and interest in and to
the Outstanding Obligations. Each Sponsor further agrees that (i) upon and as a result of the contribution of the Outstanding Obligations
to the Company and the issuance of the shares of Common Stock pursuant to this Agreement to the Sponsors, the Outstanding Obligations
of the Company owed to the Sponsors shall be extinguished in its entirety and shall be of no further force or effect and shall be deemed
satisfied in full and (ii) Schedule 1 (as amended in accordance with Section 1(a) hereof) accurately and completely sets forth the principal
amount and the accrual of any interest, if any, thereto of the Outstanding Obligations, and that there exists no other indebtedness or
amounts owed by the Company to the Sponsors or its affiliates as of immediately prior to the closing of the transactions contemplated
by the Merger Agreement.

 

6.       Counterparts.
This Agreement may be executed in any number of counterparts and by different Parties hereto on separate counterparts, each of which
counterparts, when executed and delivered, shall be deemed an original and all of which counterparts, taken together, shall constitute
one and the same Agreement. A facsimile or PDF signature shall be deemed to be an original signature for all purposes.

 

7.       Further
Assurances. Each Party hereto agrees that, from time to time, such Party will promptly execute and deliver all such further notices,
instruments, consents and documents, and take all such further action, as may be reasonably necessary to effect the agreements of the
Parties hereto set forth herein.

 

8.       Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of each Party hereto and its successors and assigns.

 

    3

     

    

 

9.       Interpretation;
Entire Agreement. This Agreement sets forth the entire agreement and understanding among the Parties relating to the subject matter
of this Agreement and all prior or contemporaneous agreements, understandings, representations and settlements, oral or written, relating
to the subject matter, are merged herein. This Agreement is not intended to, nor shall be deemed to, obviate, supersede or otherwise affect
any terms of the Company Obligations except as specifically set forth herein. This Agreement may not be altered or amended except by a
written instrument signed by all of the Parties. Any provision of this Agreement is found to be contrary to law or otherwise invalid,
void or unenforceable, it shall be deemed omitted but shall not affect the remaining terms of this Agreement, which shall remain in full
force and effect.

 

10.     Governing
Law. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York without regard
to any law or principles that would make this choice of law provision invalid. Each of the Parties hereto irrevocably submits to the
exclusive jurisdiction of the courts of the State of New York located in New York County and the United States District Court for the
Southern District of New York for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Agreement
and the transactions contemplated hereby. 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.

 

11.     Authority.
Each person whose signature is affixed hereto in a representative capacity represents and warrants that he or she is authorized and
empowered to execute this Agreement on behalf of, and to bind, the person or entity on whose behalf his or her signature is affixed,
and the Parties hereto represent and warrant that they have all requisite authority to enter into this agreement and effect the terms
thereof.

 

[SIGNATURES ON FOLLOWING PAGE]

 

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IN WITNESS WHEREOF, the parties to this Debt Contribution
Agreement have executed this agreement as of the date first written above.

 

	 	VICKERS VANTAGE CORP. I
	 	 
	 	By:	/s/
    Jeffrey Chi
	 	Name:	Jeffrey Chi
	 	Title: 	CEO

 

	 	Vickers
    Venture Fund VI (Plan) Pte Ltd
	 	 
	 	By:	/s/
    Finian Tan
	 	Name:	Finian Tan
	 	Title:	Managing Member
	 	 
	 	Vickers
    Venture Fund VI Pte Ltd
	 	 
	 	By:	/s/ Finian Tan
	 	Name:	Finian Tan
	 	Title:	Managing Member

 

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SCHEDULE I

COMPANY OBLIGATIONS

 

    6

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