Document:

WARRANT
EXCHANGE AGREEMENT

 

This
Warrant Exchange Agreement (this “Agreement”) is dated as of June ___ 2017 (the “Effective Date”),
among Uni-Pixel, Inc. a Delaware corporation (the “Company”), and ____________________ (the “Holder”).

 

WHEREAS,
reference is hereby made to that certain Securities Purchase Agreement, dated January 17, 2017 (the “Securities Purchase
Agreement”), pursuant to which, among other things, the Holder acquired that certain Warrant to Purchase Common Stock,
dated January 20, 2017, to purchase such aggregate number of shares of Common Stock (as defined in the Securities Purchase Agreement)
of the Company as set forth on the signature page of the Holder attached hereto (the “Original Warrant”). Capitalized
terms not defined herein shall have the meaning as set forth in the Securities Purchase Agreement.

 

WHEREAS,
subject to the terms and conditions set forth in this Agreement and pursuant to Section 3(a)(9) of the Securities Act of 1933,
as amended (the “Securities Act”), the Company desires to exchange with the Holder, and the Holder, desires
to exchange with the Company, the Original Warrant for the Exchange Warrants (as defined below).

 

WHEREAS,
concurrently herewith, the Company is entering into agreements with holders of warrants to purchase Common Stock dated January
20, 2017 (each, an “Other Holder” and together with the Holder, the “Holders”, such warrants
to be exchanged, each an “Other Warrant”) and such agreements, each an “Other Agreement”)
substantially in the form of this Agreement (other than with respect to the identity of the Holder, any provision regarding the
reimbursement of legal fees and proportional changes reflecting the different holdings of such Other Holders).

 

NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration
the receipt and adequacy of which are hereby acknowledged, the Company and the Holder agree as follows (with capitalized terms
used here in and not otherwise defined having the meanings set forth in the Original Warrant):

 

1.
Exchange of the Original Warrant.

 

On
the terms and subject to the conditions set forth herein, the Holder shall sell, assign, deliver and transfer to the Company all
of its right, title and interest in and to the Original Warrant in exchange for two new warrants (the “Exchange”),
the first of which shall be for an equivalent number of shares of Common Stock that are exercisable under the Original Warrant
as of immediately prior to the Effective Date upon the occurrence of the Initial Exercisability Date (as such term as defined
in the Original Warrant), as set forth on the signature page of the Holder attached hereto, and an exercise price of $1.30 per
share and without any subsequent adjustment to such exercise price (the “$1.30 Exchange Warrant”), and the
second of which shall be for 5.074994 times the number of shares of Common Stock that are exercisable under the Original Warrant
as of immediately prior to the Effective Date upon the occurrence of the Initial Exercisability Date, rounded to the nearest whole
share, as set forth on the signature page of the Holder attached hereto, with an exercise price of $0.351633 and without any subsequent
adjustment to such exercise price (the “$0.35 Exchange Warrant”, and together with the $1.30 Exchange Warrant,
collectively referred to as the “Exchange Warrant”, and as exercised, collectively, the “Exchange
Warrant Shares”), in each case, without regard to any limitations on exercise set forth therein. The $1.30 Exchange
Warrant shall be in the form attached hereto as Exhibit A and shall be exercisable for the same periods as the Original
Warrant. The $0.35 Exchange Warrant shall be in the form attached hereto as Exhibit B and shall be immediately exercisable
until the following Exercisability Termination Dates (as defined in the $0.35 Exchange Warrant) (or such later date as elected
by the Company with respect thereto, subject to the Company making the same election in the same proportions to each Other Holder
of a $0.35 Exchange Warrant (as defined in each Other Agreement) (each, an “Other $0.35 Exchange Warrant”)):

 

    	 	 	 

    	 		 

    

 

(a)
40% of the shares shall be exercisable until 20 Business Days after the Effective Date;

 

(b)
20%-third of the shares shall be exercisable until 45 Business Days from the Effective Date; and

 

(c)
40% of the shares shall be exercisable until 60 Business Days from the Effective Date.

 

Delivery
of the Exchange Warrants shall be conditioned upon surrender of the Original Warrant (or delivery of evidence reasonably satisfactory
of loss, theft, or destruction of the Original Warrant, accompanied by a customary and reasonable indemnity and surety bond, if
requested by the Company).

 

2.
Representations and Warranties.

 

(a)
Mutual Representations and Warranties. Each party hereto hereby makes the following representations and warranties
to the other party hereto:

 

(i)
It is duly organized and validly existing, in good standing under the laws of its jurisdiction of incorporation or organization.

 

(ii)
(A) It has full power and authority to enter into this Agreement and to consummate the transactions contemplated hereby, and (B)
the person who has executed this Agreement on its behalf is duly authorized to do so and thereby bind the party on whose behalf
he or she is purporting to act.

 

(iii)
This Agreement is its valid and binding agreement, enforceable against it in accordance with its terms.

 

(iv)
Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will violate,
result in a breach of any of the terms or provisions of, constitute a default (or any event that, with the giving of notice or
the passage of time or both would constitute a default) under, accelerate any obligations under, or conflict with, (i) its charter,
articles or certificate of incorporation, partnership agreement or bylaws (or other organizational documents), if applicable,
or any agreement, indenture or other instrument to which it is a party or by which it or its properties are bound, (ii) any judgment,
decree, order or award or any court, governmental body or arbitrator to which it is subject or (iii) any law, rule or regulation
applicable to it.

 

    	 	 2	 

    	 		 

    

 

(b)
Representations, Warranties and Covenants of the Company. The Company hereby represents, warrants and covenants to the
Holder that:

 

(i)
The Exchange Warrants are duly authorized and, upon issuance in accordance with the terms hereof, shall be validly issued and
free from all taxes, liens and charges with respect to the issue thereof. As of the Effective Date, the Company shall have duly
authorized and reserved for issuance a number of shares of Common Stock which equals the number of Exchange Warrant Shares issuable
upon exercise of the Exchange Warrants. Upon exercise in accordance with the Exchange Warrants, the Exchange Warrant Shares will
be validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof,
with the holders being entitled to all rights accorded to a holder of Common Stock.

 

(ii)
The Company is not required to obtain any consent, authorization or order of, or make any filing or registration with, any court,
governmental agency or any regulatory or self-regulatory agency or any other person, including, without limitation, any other
security holders of the Company, in order for it to execute, deliver or perform any of its obligations under or contemplated by
this Agreement. All consents, authorizations, orders, filings and registrations which the Company is required to obtain pursuant
to the preceding sentence have been obtained or effected on or prior to the date hereof.

 

(iii)
The exchange of the Original Warrant for the Exchange Warrants is being consummated pursuant to Sections 3(a)(9) and Rule 149
of the Securities Act and no other consideration has or will be paid to the Company for the Exchange Warrants to effect the Exchange
hereunder. The Company has not engaged in any general solicitation or engaged or agreed to compensate any broker or agent in connection
with the transactions contemplated by this Agreement. None of the Company, its subsidiaries, any of their affiliates, and any
person acting on their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to
buy any security, under circumstances that would require registration of any of the Exchange Warrant Shares or the Exchange Warrants
(collectively, the “Exchange Securities”) under the Securities Act or cause this Exchange to be integrated
with prior offerings by the Company for purposes of any applicable stockholder approval provisions.

 

(iv)
The Company is not, and has never been, an issuer identified in, or subject to, Rule 144(i) under the Securities Act.

 

(v)
The Company confirms that neither it nor any other person acting on its behalf has provided the Holder or their agent or counsel
with any information that constitutes or could reasonably be expected to constitute material, nonpublic information. The Company
understands and confirms that the Holder will rely on the foregoing representation in effecting transactions in securities of
the Company. All disclosure provided to the Holder regarding the Company and its Subsidiaries, their businesses and the transactions
contemplated hereby, including the schedules to this Agreement, furnished by or on behalf of the Company or any of its Subsidiaries
is true and correct and does 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. Each
press release issued by the Company or any of its Subsidiaries during the twelve (12) months preceding the date of this Agreement
did not at the time of release contain any untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they are made,
not misleading. No event or circumstance has occurred or information exists with respect to the Company or any of its Subsidiaries
or its or their business, properties, liabilities, prospects, operations (including results thereof) or conditions (financial
or otherwise), which, under applicable law, rule or regulation, requires public disclosure at or before the date hereof or announcement
by the Company but which has not been so publicly announced or disclosed.

 

    	 	 3	 

    	 		 

    

 

(c)
Representations, Warranties and Covenants of the Holder. The Holder hereby represents and warrants to the Company that
the Holder: (i) is the sole legal and beneficial owner of the Original Warrant free and clear of any liens, encumbrances, pledges,
security interests or other restrictions or claims of third parties, (ii) is an “accredited investor” (as defined
in Regulation D under the Act) and is acquiring the Exchange Warrants for its own account and not with a view to any distribution
thereof except in compliance with the Securities Act; (iii) is not an “affiliate” of the Company (as defined in Rule
144 under the Securities Act), (iv) has made all investigations that it deems necessary or desirable in connection with the transactions
contemplated by this Agreement and has had an opportunity to ask questions of and receive answers from the Company and (v) has
such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of its investment
in the Exchange Warrants.

 

(d)
Survival. All representations, warranties and agreements of each party hereto shall survive the consummation of the Exchange.

 

3.
Covenants. 

 

(a)
Disclosure of Transactions and Other Material Information. The Company shall, on or before 9:00 a.m., New York City Time,
on the first Business Day after the Effective Date, issue a current report on Form 8-K (“the Form 8-K”) disclosing
all material terms of the transactions contemplated hereby. From and after the issuance of the Form 8-K, the Holder shall not
be in possession of any material, nonpublic information received from the Company, any of its subsidiaries or any of its respective
officers, directors, employees or agents, that is not disclosed in the Form 8-K. The Company shall not, and shall cause each of
its subsidiaries and each of their respective officers, directors, employees and agents, not to, provide the Holder with any material,
nonpublic information regarding the Company or any of its subsidiaries from and after the filing of the Form 8-K without the express
written consent of the Holder. To the extent that the Company delivers any material, non-public information to the Holder without
the Holder’s express prior written consent, the Company hereby covenants and agrees that the Holder shall not have any duty
of confidentiality to the Company, any of its Subsidiaries or any of their respective officers, directors, employees, affiliates
or agent with respect to, or a duty to the to the Company, any of its Subsidiaries or any of their respective officers, directors,
employees, affiliates or agent or not to trade on the basis of, such material, non-public information. The Company shall not disclose
the name of the Holder in any filing, announcement, release or otherwise, unless such disclosure is required by law or regulation.
In addition, effective upon the filing of the Form 8-K, the Company acknowledges and agrees that any and all confidentiality or
similar obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their
respective officers, directors, affiliates, employees or agents, on the one hand, and the Holder or any of its affiliates, on
the other hand, shall terminate and be of no further force or effect. The Company understands and confirms that the Holder will
rely on the foregoing representations in effecting transactions in securities of the Company.

 

    	 	 4	 

    	 		 

    

 

(b)
Blue Sky. The Company shall make all filings and reports relating to the Exchange required under applicable securities
or “blue sky” laws of the states of the United States following the date hereof, if any.

 

(c)
Listing. The Company shall promptly secure the listing or designation for quotation (as applicable) of all of the Exchange
Warrant Shares upon each trading market upon which the Common Stock is then listed or designated for quotation (as applicable)
(subject to official notice of issuance) and shall maintain such listing of all the Exchange Warrant Shares from time to time
issuable under the terms of the Exchange Warrants. The Company shall pay all fees and expenses in connection with satisfying its
obligations under this Section 3(c).

 

(d)
Holding Period. For the purposes of Rule 144, the Company acknowledges that the holding period of the Exchange Warrants
(and, assuming a cashless exercise of the Exchange Warrants, the Exchange Warrant Shares) may be tacked onto the holding period
of the Original Warrant and shall, consequently, be deemed to have been issued as of January 20, 2017 for purposes of Rule 144
and the Company agrees not to take a position contrary to this Section 3(d). The Company agrees to take all actions, including,
without limitation, the issuance by its legal counsel of any necessary legal opinions, necessary to issue Exchange Warrant Shares
that are freely tradable on the Principal Market without restriction and not containing any restrictive legend without the need
for any action by the Holder and at the Company’s expense.

 

4.
Miscellaneous.

 

(a)
Further Assurances. Each party hereto shall promptly execute and deliver such further agreements and instruments, and take
such further actions, as the other party may reasonably request in order to carry out the purpose and intent of this Agreement.

 

(b)
Governing Law; Jurisdiction; Jury Trial. This Agreement shall be governed by and construed and enforced in accordance with,
and all questions concerning the construction, validity, interpretation and performance of this Agreement shall be governed by,
the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether
of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than
the State of New York. Each party hereby irrevocably waives personal service of process and consents to process being served in
any such suit, action or proceeding by mailing a copy thereof to the Company at the address for such notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Each party
hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough
of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby
or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that
it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient
forum or that the venue of such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any
way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO,
AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF
THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	 	 5	 

    	 		 

    

 

(c)
Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original, but all
of which shall constitute one and the same instrument.

 

(d)
Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the parties hereto and the respective 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.

 

(e)
Complete Agreement. This Agreement, together with the Securities Purchase Agreement and the other Transaction Documents
(collectively, the “Exchange Documents”) represents the entire agreement and understandings between the parties
concerning the Exchange and the other matters described herein and therein and supersedes and replaces any and all prior agreements
and understandings solely with respect to the subject matter hereof and thereof. Except as expressly set forth herein, nothing
herein shall amend, modify or waive any term or condition of the other Exchange Documents.

 

(e)
Expenses; Fees. The Company shall reimburse the Holder for its legal fees and expenses in connection with the preparation
and negotiation of this Agreement and transactions contemplated thereby, in an amount not to exceed $7,500, to be paid on or prior
to the date hereof (the “Holder Counsel Expense”). The Holder Counsel Expense shall be paid by the Company
whether or not the transactions contemplated by this Agreement are consummated. Except as specifically set forth herein, each
party hereto shall bear its own costs and expenses, including, without limitation, attorneys’ fees, incurred in connection
with this Agreement and the transactions contemplated hereby.

 

(f)
Finder’s Fees. Each party represents that it neither is nor will be obligated for any finders’ fee or commission
in connection with this transaction. The Company shall indemnify and hold harmless the Holder from any liability for any commission
or compensation in the nature of a finders’ fee (and the reasonable costs and expenses of defending against such liability
or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

 

    	 	 6	 

    	 		 

    

 

(g)
Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Agreement must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon
delivery, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on
file by the sending party) or by electronic mail; or (iii) one Business Day after deposit with an overnight courier service, in
each case properly addressed to the party to receive the same. The addresses, facsimile numbers and e-mail addresses for such
communications shall be as set forth in the Securities Purchase Agreement or to such other address, facsimile number and/or e-mail
address and/or to the attention of such other Person as the recipient party has specified by written notice given to each other
party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of such
notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s facsimile machine
or e-mail containing the time, date, recipient facsimile number and an image of the first page of such transmission or (C) provided
by an overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile or receipt from an overnight
courier service in accordance with clause (i), (ii) or (iii) above, respectively.

 

(h)
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 Holder.

 

(i)
Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision
shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded
and shall be enforceable in accordance with its terms so long as this Agreement as so modified continues to express, without material
change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability
of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties
or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in
good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect
of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

(j)
Interpretation. Unless the context of this Agreement clearly requires otherwise, (i) references to the plural include the
singular, the singular the plural, the part the whole, (ii) references to any gender include all genders, (iii) “including”
has the inclusive meaning frequently identified with the phrase “but not limited to” and (iv) references to “hereunder”
or “herein” relate to this Agreement.

 

(k)
No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

    	 	 7	 

    	 		 

    

 

(l)
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

(m)
Independent Nature of Holder’s Obligations and Rights. The obligations of the Holder under this Agreement are several
and not joint with the obligations of any Other Holder, and the Holder shall not be responsible in any way for the performance
of the obligations of any Other Holder under any Other Agreement. Nothing contained herein or in any Other Agreement, and no action
taken by the Holder pursuant hereto, shall be deemed to constitute the Holder and Other Holders as a partnership, an association,
a joint venture or any other kind of entity, or create a presumption that the Holder and Other Holders are in any way acting in
concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other Agreement
and the Company acknowledges that, to the best of its knowledge, the Holder and the Other Holders are not acting in concert or
as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other Agreement. The Company
and the Holder confirm that the Holder has independently participated in the negotiation of the transactions contemplated hereby
with the advice of its own counsel and advisors. The Holder shall be entitled to independently protect and enforce its rights,
including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any Other Holder to
be joined as an additional party in any proceeding for such purpose.

 

(n)
Equal Treatment Acknowledgement; Most Favored Nations. The parties hereto hereby acknowledge and agree that, in accordance
with the Securities Purchase Agreement, the Company is obligated to present the terms of this offering to each Other Holder; provided
that each Other Agreement shall be negotiated separately with each Other Holder and shall not in any way be construed as the Holder
or any Other Holder acting in concert or as a group with respect to the purchase, disposition or voting of securities of the Company
or otherwise. The Company hereby represents and warrants as of the date hereof and covenants and agrees that none of the terms
offered to any Person with respect to the Exchange, including, without limitation with respect to any consent, release, amendment,
settlement, or waiver relating to any Exchange (each an “Settlement Document”), is or will be more favorable
to such Person (other than any reimbursement of legal fees) than those of the Holder and this Agreement. If, and whenever on or
after the date hereof, the Company enters into a Settlement Document, then (i) the Company shall provide notice thereof to the
Holder immediately following the occurrence thereof and (ii) the terms and conditions of this Agreement shall be, without any
further action by the Holder or the Company, automatically amended and modified in an economically and legally equivalent manner
such that the Holder shall receive the benefit of the more favorable terms and/or conditions (as the case may be) set forth in
such Settlement Document, provided that upon written notice to the Company at any time the Holder may elect not to accept the
benefit of any such amended or modified term or condition, in which event the term or condition contained in this Agreement shall
apply to the Holder as it was in effect immediately prior to such amendment or modification as if such amendment or modification
never occurred with respect to the Holder. The provisions of this Section 4(n) shall apply similarly and equally to each Settlement
Document.

 

[Signature
Page Follows]

 

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IN
WITNESS WHEREOF, the Holder and the Company have caused their respective signature page to this Agreement to be duly executed
as of the date first written above.

 

	 	UNI-PIXEL,
    INC.
	 	 	 
	 	By:	 
	 	Name:	Christine
    Russell
	 	Title:
    	Chie
    Financial Officer

 

[Signature
page to Uni-Pixel, Inc. Warrant Exchange Agreement]

 

    	 	 	 

    	 		 

    

 

IN
WITNESS WHEREOF, the Holder and the Company have caused their respective signature page to this Agreement to be duly executed
as of the date first written above.

 

	 	HOLDER:
    
	 	 	 
	 	 	 
	 	By:
    	
	 	Name:	 
	 	Title:	
	 	 	                 
	 	Aggregate
    Number of Warrant Shares Issuable Upon Exercise of the Original Warrant of the Holder*:
	 	 	 
	 	 	 
	 	 	 
	 	Aggregate
    Number of Exchange Warrant Shares Issuable Upon Exercise of the $1.30 Exchange Warrant*:
	 	 	 
	 	 	 
	 	 	 
	 	Aggregate
    Number of Exchange Warrant Shares Issuable Upon Exercise of the $0.35 Exchange Warrant*:
	 	 	 
	 	 	 
	 	 	 
	 	*Disregarding
    any limitations on exercise related thereto.

 

[Signature
page to Uni-Pixel, Inc. Warrant Exchange Agreement]

 

    	 	 	 

    	 		 

    

 

EXHIBIT
A

 

FORM
OF $1.30 EXCHANGE WARRANT

 

(attached
hereto)

 

    	 	 	 

    	 		 

    

 

EXHIBIT
B

 

FORM
OF $0.35 EXCHANGE WARRANT

 

(attached
hereto)Exhibit 10.1

 Exhibit 10.1 

INFUSYSTEM HOLDINGS, INC. 

June 7, 2017 
 Mr. Eric Steen 

31700 Research Park Drive 
 Madison Heights, Michigan 48071 

 

	Re: 	Separation Agreement and General Release 

 I want to express to you on behalf of the Board of Directors
of InfuSystem Holdings, Inc. our deepest appreciation for your services to InfuSystem Holdings, Inc. as Chief Executive Officer and a member of the Board of Directors. This Separation Agreement and General Release (this “Agreement”)
confirms our mutual agreement regarding the terms and conditions of your termination as Chief Executive Officer and Director of InfuSystem Holdings, Inc., and from all other positions that you have held as an employee, officer or director of
InfuSystem, Inc., the Company’s wholly-owned subsidiary (collectively, with InfuSystem Holdings, Inc., the “Company”). 
 Capitalized terms
used herein but not otherwise defined have the meanings ascribed to them in the Employment Agreement between you and the Company dated April 1, 2013, as amended by the Amendment to Employment Agreement dated January 18, 2016 (collectively,
the “Employment Agreement”). 
 You and the Company agree as follows: 
  

	1.	Concluding Employment 

  

	 	a.	You acknowledge that your employment with the Company was terminated on May 18, 2017 (the “Date of Termination”). 

  

	 	b.	Your termination of employment will be treated as an “Involuntary Termination” pursuant to the Employment Agreement, except as amended hereby. 

 

	 	c.	Following the Date of Termination, you will not represent yourself as being an employee, officer, or agent of the Company, and any delegation of authority to you is revoked. You will not represent or take any action on
behalf of the Company without the prior written authorization from the Company. 

  

	 	d.	The Date of Termination will be the termination date of your employment for purposes of participation in and coverage under all benefit plans and programs sponsored by or through the Company. 

	2.	Compensation. Provided that you execute and do not revoke this Agreement, the Company will provide you with the following total and final compensation, payments and benefits from the Company (subject to
applicable deductions and withholdings): 

  

	 	a.	As more fully described in Section 9.B. of the Employment Agreement, you will receive: (i) the unpaid base salary earned by you pursuant to Section 6.A. of the Employment Agreement for services rendered
through the Date of Termination; (ii) any accrued but unpaid Bonus Amount; (iii) the accrued but unpaid PTO earned under Section 7.C. of the Employment Agreement; (iv) unreimbursed amounts under Section 7.A. of the
Employment Agreement; (v) a severance payment, in an aggregate amount equal to 12 months of your current base salary; (vi) any target Bonus Amount to which you would otherwise be entitled if employed during the Severance Period; and
(vii) continuation of all COBRA health benefits. This continued COBRA coverage will be available at your own expense, except that the Company will pay for your COBRA coverage for the period commencing on May 19, 2017 up to and including
August 18, 2017. 

  

	 	b.	In addition, in lieu of receiving three months advance notice of Involuntary Termination as described in Section 9.B. of the Employment Agreement, the Company will pay you an amount equal to your base salary for
the period commencing on May 19, 2017 up to and including August 18, 2017, payable in ratable amounts as if you were still employed by the Company during such period and in accordance with the Company’s regular payroll policies.

  

	3.	No Other Entitlements. Once the Company has made to you the payments provided for in Paragraph 2 of this Agreement, you acknowledge and agree that you will have received all entitlements due from the Company
relating to your employment with the Company, including all wages earned, sick pay, vacation pay, bonus awards, and any paid and unpaid personal leave for which you were eligible and entitled, and that no other entitlements are due to you other than
as set forth in this Agreement. 

  

	4.	Release. 

  

	 	a.	In consideration for the payments and benefits provided in Paragraph 2 of this Agreement and as required by Section 9.B. of the Employment Agreement, you, for yourself and for your heirs, executors, administrators,
trustees, legal representatives and assigns (collectively, “Releasors”), forever release and discharge the Company and its past and present parent entities, and its or their subsidiaries, divisions, affiliates and related business
entities, successors and assigns, assets, employee benefit plans or funds, and any of its or their respective past and present directors, officers, fiduciaries, agents, trustees, administrators, employees, representatives and assigns, whether acting
as agents for the Company or in their individual capacities (collectively the “Company Entities”) from any and all claims, demands, causes of action, fees and liabilities of any kind whatsoever, whether known or unknown, that you ever had,
now have, or may have against any of the Company Entities by reason of any act, omission, transaction, practice, plan, policy, procedure, conduct, occurrence, or other matter up to and including the date on which you sign this Agreement.

  
 2 

	 	b.	Without limiting the generality of the foregoing, this Agreement is intended to and will release the Company Entities from any and all claims, whether known or unknown, that Releasors ever had, now have, or may have
against the Company Entities arising out of your employment or your separation from that employment, including (i) any claims under the Age Discrimination in Employment Act (29 U.S.C. Section 621, et seq.) (“ADEA”), Older
Workers’ Benefits Protection Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, 42 U.S.C. Section 1981, the Americans with Disabilities Act, the Employee Retirement Income Security Act of 1974 (excluding claims
for accrued, vested benefits under any employee benefit or pension plan of the Company Entities subject to the terms and conditions of such plan and applicable law), the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave
Act, and the Sarbanes-Oxley Act of 2002, each as amended; (ii) any claims under the Michigan Civil Rights Act, Mich. Comp. Laws §§ 37.2101 to 37.2804, Michigan Equal Pay Law, Mich. Comp. Laws §408.397, or Michigan Persons with
Disabilities Civil Rights Act, Mich. Comp. Laws §§ 37.1101 et seq.; (iii) any claims under the Kansas Act Against Discrimination and Kansas Age Discrimination in Employment Act; and (iv) any other claim (whether based on
federal, state, or local statutes, orders, laws, ordinances, regulations or the like or common law) relating to or arising out of your employment, the terms and conditions of such employment, or the termination of such employment, including claims
for tortious conduct of any kind, breach of contract (express or implied), fraud, misrepresentation, wrongful discharge, detrimental reliance, defamation, emotional distress or compensatory or punitive damages; and (v) any claim for monetary or
other personal relief, or for attorneys’ fees, costs, disbursements or the like. 

  

	 	c.	Notwithstanding the generality of the foregoing, nothing herein constitutes a release or waiver by you of: (i) any claim or right you may have under COBRA; (ii) any claim or right you may have for unemployment
insurance benefits; (iii) any claim or right you have may have for workers compensation benefits; (iv) any claim or right that may arise after the execution of this Agreement; (v) any claim or right you may have under this Agreement;
or (vi) any claim to vested benefits under the written terms of a qualified employee retirement plan. 

  

	5.	Section 409A of the Code. Section 12 of the Employment Agreement is hereby incorporated herein mutatis mutandis. 

 

	6.	Non-Disparagement. You and the Company agree that you will not disparage or encourage or induce others to disparage each other or, in your case, the Company Entities. For
the purposes of this Agreement, to “disparage” a person includes comments or statements to the press or media, such person or any individual or entity with whom such person has a business relationship that would adversely affect in any
manner (i) the conduct of the business of such person (including any business plans or prospects) or (ii) the business reputation of such person. Nothing in this Agreement is intended to limit or modify your obligations in
Section 8.D. of the Employment Agreement. 

  
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	7.	Protection of Confidential Information. 

  

	 	a.	You agree that you will not at any time, directly or indirectly, disclose any trade secret, confidential or proprietary information you have learned by reason of your association with the Company (the “Confidential
Information”) or use any such Confidential Information to the detriment of the Company, its parents, affiliates or subsidiaries, or to the benefit of any business or enterprise that competes with the Company, its parents, affiliates or
subsidiaries. Confidential Information is deemed to include, but is not limited to, information, knowledge, systems or data, however stored, relating to the business, operations, clients or finances of the Company, including Company advertising and
marketing plans, sales plans, formulae, processes, methods, machines, ideas, concepts, new products, improvements, inventions, research programs and associations with other organizations that the Company has not previously made public. Confidential
Information does not include information that can be shown by written evidence to be in the public domain at the time of disclosure by you or that is publicized or otherwise becomes part of the public domain through no fault of your own.

  

	 	b.	By signing this Agreement, you affirm that to the best of your knowledge and belief, you have returned to the Company all Company property issued to you, including keys, credit cards, if any, ID cards, mobile phones,
computers, tablets, computer software, hardware and software user’s guides, instruction booklets, and any and all original and duplicate copies of all your work product and of files, calendars, books, records, notes, notebooks, manuals,
computer files, electronic storage devices and other media materials, regardless of who created them, you have in your possession or under your control belonging to the Company Entities or containing confidential or proprietary information
concerning the Company Entities or their customers or operations. Furthermore, should you or the Company discover that you inadvertently possess any of the documents or materials described in this Paragraph, you agree to return such documents or
materials to the Company immediately. 

  

	 	c.	Nothing in this Agreement prohibits you from reporting possible violations of federal or state law or regulation to any government agency or entity, including the EEOC, DOL, the Department of Justice, the SEC, the
Department of Defense, Congress, and any agency Inspector General, or making other disclosures that are protected under the whistleblower provisions of applicable law. 

 

	 	d.	Except as provided in Paragraph 7.c. above, nothing in this Agreement is intended to limit or modify your obligations in Section 8.A. of the Employment Agreement. 

 

	8.	Non-Competition. You hereby acknowledge, and agree to continue to be bound by your existing obligations with regard to engaging in competitive activity, as set forth in
Section 8.B. of your Employment Agreement (which is hereby incorporated by this reference) until the date that is two years after the Date of Termination. 

  
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	9.	Remedies. 

  

	 	a.	You acknowledge that if you breach your commitments to the Company agreed upon in Paragraphs 7 or 8, you will forfeit the payments provided for in Paragraph 2. 

 

	 	b.	You further acknowledge that if you breach your obligations referenced in Paragraphs 7 or 8 of this Agreement, the remedy at law for such breach will be inadequate and that damages flowing from such breach are not
readily susceptible to being measured in monetary terms. Accordingly, it is acknowledged that upon adequate proof of your violation of your obligations referenced in Paragraphs 7 or 8, the Company will be entitled to immediate injunctive relief and
may obtain a temporary order restraining any threatened or further breach. Nothing herein will be deemed to limit the Company’s remedies at law or in equity for any breach by you of any of your obligations referenced in Paragraphs 7 or 8.

  

	10.	Cooperation. You agree that you will assist and cooperate with the Company Entities to a reasonable extent in connection with any investigation, proceeding, dispute or claim that may be made against, by or with
respect to the Company Entities, or in connection with any ongoing or future investigation, proceeding, dispute or claim of any kind involving the Company Entities, including any proceeding before any arbitral, administrative, regulatory,
self-regulatory, judicial, legislative, or other body or agency, (including making yourself available upon reasonable notice for factual interviews, preparation for testimony, providing affidavits, and similar activities) to the extent such claims,
investigations or proceedings relate to your employment with the Company, services performed or required to be performed by you or pertinent knowledge possessed by you. The Company will pay any pre-approved
and reasonable expenses incurred by you in the course of such cooperation. Nothing in this Agreement is intended to limit or modify your obligations in Section 8.G. of the Employment Agreement. 

 

	11.	Indemnification. The Company will provide you with indemnification to the full extent required by the Employment Agreement, provided under the Company’s applicable governing documents or under applicable
law; however, you are not currently aware of any facts or circumstances giving rise to any claim for which you may be seeking indemnification from the Company other than with respect to (a) the lawsuits captioned Lechner vs. InfuSystem
Holdings, Inc. (a class action filed in the United States District Court for the Central District of California) and Thomas vs. InfuSystem Holdings, Inc. (a tag-along derivative suit filed in the
Superior Court of the State of California, Los Angeles County) and (b) any related litigation arising out of the same or substantially the same facts or issues. 

 

	12.	Acknowledgments. You hereby acknowledge that: 

  

	 	a.	The Company advises you to consult with an attorney before signing this Agreement; 

  

	 	b.	You have obtained independent legal advice from an attorney of your own choice with respect to this Agreement, or you have knowingly and voluntarily chosen not to do so; 

  
 5 

	 	c.	You freely, voluntarily and knowingly entered into this Agreement after due consideration; 

  

	 	d.	You have had a minimum of 21 days to review and consider this Agreement; 

  

	 	e.	If you knowingly and voluntarily choose to do so, you may accept the terms of this Agreement before the 21 day consideration period provided for above has expired; 

 

	 	f.	Changes to the Company’s offer contained in this Agreement, whether material or immaterial, will not restart the 21 day consideration period provided for above; 

 

	 	g.	You have a right to revoke this Agreement by notifying the undersigned Company representative in writing within seven days after your execution of this Agreement; 

 

	 	h.	The payments, benefits and other considerations that you are receiving pursuant to this Agreement are just and sufficient consideration for the waivers, releases and commitments set forth herein; and 

 

	 	i.	No promise or inducement has been offered to you, except as expressly set forth herein, and you are not relying upon any such promise or inducement in entering into this Agreement. 

 

	13.	Miscellaneous. 

  

	 	a.	Entire Agreement. You understand that this Agreement, along with the Employment Agreement (except to the extent modified by Paragraphs 2.b. and 7.d. of this Agreement) constitutes the complete understanding
between the Company and you, and supersedes any and all agreements, understandings, and discussions, whether written or oral, between you and the Company, unless expressly provided otherwise herein. No other promises or agreements will be binding
unless in writing and signed by both the Company and you after the Date of Termination. 

  

	 	b.	No Admission. This Agreement is not intended, and will not be construed, as an admission that any of the Company Entities has violated any federal, state or local law (statutory or decisional), ordinance or
regulation, breached any contract or committed any wrong whatsoever against you. 

  

	 	c.	Severability. Should any provision of this Agreement require interpretation or construction, the entity interpreting or construing this Agreement will not apply a presumption against one party by reason of the
rule of construction that a document is to be construed more strictly against the party who prepared the document. 

  
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	 	d.	Assignment. This Agreement is binding upon, and will inure to the benefit of, the parties and their respective heirs, executors, administrators, successors and assigns. 

 

	 	e.	Governing Law. This Agreement will be construed and enforced in accordance with the laws of the State of Michigan without regard to the principles of conflicts of law. 

 

	 	f.	Headings and Captions. The headings and captions herein are provided for reference and convenience only. They will not be considered part of the Agreement and will not be employed in the construction of the
Agreement. 

  

	 	g.	Effective Date. This Agreement will become effective upon the expiration of the seven day revocation period provided for in Paragraph 12(g) above. 

If the above accurately states our agreement, including the separation, waiver and release, kindly sign below and return this original Agreement to me by no
later than 21 days from Agreement Date. I will sign it and return a copy to you. 
  

			
	Sincerely,
	
	INFUSYSTEM HOLDINGS, INC.
		
	 By:
	 	 /s/ Gregg O. Lehman

		 	Gregg O. Lehman, Executive Chairman

  

	
	 UNDERSTOOD, AGREED TO AND

	 ACCEPTED WITH THE INTENTION

	 TO BE LEGALLY BOUND:

	
	 /s/ Eric Steen

	 Eric Steen

	 Date: June 8, 2017

  
 7

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