Document:

EX-10.1

 Exhibit 10.1 

SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT 

THIS SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Second Amendment”), dated as of December 7, 2015, is
made among NANOSPHERE, INC., a Delaware corporation (the “Borrower”), NSPH FUNDING LLC, a Delaware limited liability company (“NSPH”), in its capacity as collateral agent (in such capacity,
“Collateral Agent”) and the Lenders listed on Schedule 1.1 of the Loan and Security Agreement (as defined below) or otherwise a party hereto from time to time, including NSPH and SWK FUNDING LLC, a Delaware limited liability
company (“SWK”), each in its capacity as a Lender (each a “Lender” and collectively, the “Lenders”). 

The Borrower, the Lenders and the Collateral Agent are parties to a Loan and Security Agreement dated as of May 14, 2015 (the
“Loan and Security Agreement”). The Borrower has requested that the Lenders agree to certain amendments to the Loan and Security Agreement. The Lenders have agreed to such request, subject to the terms and conditions hereof. 

Accordingly, the parties hereto agree as follows: 

SECTION 1 Definitions; Interpretation. 

(a) Terms Defined in Loan and Security Agreement. All capitalized terms used in this Second Amendment (including in the recitals
hereof) and not otherwise defined herein shall have the meanings assigned to them in the Loan and Security Agreement. 
 (b)
Interpretation. The rules of interpretation set forth in Section 1.1 of the Loan and Security Agreement shall be applicable to this Second Amendment and are incorporated herein by this reference. 

SECTION 2 Amendments to the Loan and Security Agreement. 

(a) The Loan and Security Agreement shall be amended as follows effective as of the Second Amendment Effective Date: 

(i) New Definition. The following definition is added to Section 1.4 in its proper alphabetical order: 

“Adjusted Cash Flow” means, for any period, an amount (which may be a negative number) equal to the sum of
(a) Net Income, plus (b) Depreciation and Amortization, plus (c) Non-Cash Operating Expenses, minus (d) Capital Expenditures. 

“Atlas Assay” means diagnostic tests to be run on the Atlas System. 

“Atlas System” means Borrower’s next generation Product platform in development as of the Second
Amendment Effective Date. 
 “Assay Milestone Date” is the date that Borrower has (i) submitted to the
FDA as a 510(k) premarket notification submission the first Atlas Assay developed for the Atlas System (which, for the avoidance of doubt, must occur prior to September 30, 2016), and (ii) delivered to Collateral Agent evidence that it has
achieved the Amortization Threshold for the most recently completed fiscal quarter; in each case subject to verification and supporting evidence reasonably requested by Collateral Agent. 

“Depreciation and Amortization” means, for any period, an amount equal to the sum of all depreciation and
amortization expenses of Borrower for such period, as determined in accordance with GAAP. 

  
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 “Net Income” means, for any period, the net income (or loss, if
a negative number) of Borrower as set forth or reflected on the most recent income statement of Borrower prepared in accordance with GAAP. 

“Non-Cash Operating Expenses” means, for any period, items (excluding Depreciation and Amortization) contained
in the cash flow statement caption “Adjustments to reconcile net loss to net cash used in operating activities.” as set forth or reflected on the most recent income statement of Borrower prepared in accordance with GAAP. 

“Second Amendment Effective Date” means the date upon which Borrower has satisfied (to the satisfaction of
Collateral Agent in its sole discretion) the conditions precedent set forth in Section 3 (Conditions to Effectiveness) of that certain Second Amendment to Loan and Security Agreement, dated as of December 7, 2015, by and among Borrower,
Collateral Agent, and the Lenders. 
 “Second Amendment Warrants” means any of those certain Warrants to
Purchase Stock, dated on or about the Second Amendment Effective Date, issued by Borrower in favor of a Lender or such Lender’s Affiliates, all as may be amended, restated, or otherwise modified or supplemented from time to time. 

“Third Draw Period” is the period commencing on the Assay Milestone Date and ending on November 15, 2016.

 (ii) Definition of “Amortization Threshold”. The definition of “Amortization Threshold” in
Section 1.4 is amended and restated to read as follows: 
 “Amortization Threshold” means the
Borrower continuing to maintain, for each fiscal quarter, an Adjusted Cash Flow, measured on the last day of each fiscal quarter for the immediately concluded fiscal quarter, at levels equal to or greater than the thresholds in the table below: 

 

					
	 Quarter
	  	Adjusted
Cash Flow	 
	 Quarter beginning January 1, 2016
	  	-$	6,500,000	  
	 Quarter beginning April 1, 2016
	  	-$	6,300,000	  
	 Quarter beginning July 1, 2016
	  	-$	6,000,000	  
	 Quarter beginning October 1, 2016
	  	-$	4,600,000	  
	 Quarter beginning January 1, 2017
	  	-$	3,500,000	  
	 Quarter beginning April 1, 2017
	  	-$	3,900,000	  
	 Quarter beginning July 1, 2017
	  	-$	1,400,000	  
	 Quarter beginning October 1, 2017
	  	$	200,000	  
	 Quarter beginning January 1, 2018
	  	$	1,500,000	  
	 Quarter beginning April 1, 2018
	  	$	1,300,000	  
	 Quarter beginning July 1, 2018
	  	$	1,200,000	  
	 Quarter beginning October 1, 2018
	  	$	2,600,000	  
	 Quarter beginning January 1, 2019
	  	$	4,300,000	  
	 Quarter beginning April 1, 2019
	  	$	2,500,000	  
	 Quarter beginning July 1, 2019
	  	$	2,400,000	  
	 Quarter beginning October 1, 2019
	  	$	4,900,000	  

  
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 (iii) Definition of “Milestone Date”. The definition of “Milestone
Date” in Section 1.4 is amended and restated to read as follows: 
 “Milestone Date” is the
date that Borrower has achieved, prior to May 14, 2016, (i) trailing six (6) month revenue under GAAP of at least Twelve Million Dollars ($12,000,000.00) during any consecutive six (6) month period, measured monthly on an
unaudited basis for any month for which audited financial statements are not available; and (ii) no less than 100 cumulative new unit placements (such placements having not been in existence as of January 1, 2015) during any consecutive
twelve (12) month period, measured monthly; in each case subject to verification and supporting evidence reasonably requested by Collateral Agent. 

(iv) Definition of “Warrant”. The definition of “Warrant” in Section 1.4 is amended and restated to
read as follows: 
 “Warrant” means any of (a) that certain Warrant to Purchase Stock dated as of the
Effective Date issued by Borrower in favor of a Lender or such Lender’s Affiliates, (b) the Second Amendment Warrants, or (c) any other warrant entered into in connection with the Term Loan, all as may be amended, restated, or
otherwise modified or supplemented from time to time. 
 (v) Section 2.2. Section 2.2(a)(ii) is hereby amended and
restated as follows: 
 (ii) Subject to the terms and conditions of this Agreement, after the Second Amendment Effective
Date, the Lenders agree, severally and not jointly, (x) during the Second Draw Period, upon the request of Borrower, to make term loans to Borrower in an aggregate principal amount up to Five Million Dollars ($5,000,000) in one advance
according to each Lender’s Term B Loan Commitment as set forth on Schedule 1.1 hereto; provided, that such loans pursuant to this clause (x) shall be made at the sole discretion of each Lender to the
extent Borrower fails to satisfy the Amortization Threshold for any quarter during such Second Draw Period, and (y) during the Third Draw Period, upon the request of Borrower, to make term loans to Borrower in an aggregate principal
amount up to Five Million Dollars ($5,000,000) in one advance according to each Lender’s Term B Loan Commitment as set forth on Schedule 1.1 hereto; provided, that such loans pursuant to this clause
(y) shall be made at the sole discretion of each Lender to the extent Borrower fails to satisfy the Amortization Threshold for any quarter during such Third Draw Period (such term loans referenced in clauses
(x) and (y) are hereinafter referred to singly as a “Term B Loan”, and collectively as the “Term B Loans”; each Term A Loan or Term B Loan is hereinafter
referred to singly as a “Term Loan” and the Term A Loans and the Term B Loans are hereinafter referred to collectively as the “Term Loans”). After repayment, no Term B Loan may be re-borrowed. 

  
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 (vi) Section 7.14. Section 7.14 is hereby amended and restated as
follows: 
 7.14 Financial Covenant. Borrower shall not permit its cash on deposit in a Collateral Account subject to
a Control Agreement in favor of the Collateral Agent to be less than (a) Three Million Dollars ($3,000,000.00) prior to the First Amendment Effective Date, (b) Four Million Dollars ($4,000,000.00) on and after the First Amendment Effective
Date but prior to the earlier of (i) the earlier of (x) the Milestone Date, or (y) May 14, 2016, or (ii) the Funding Date of any portion of the Term B Loan pursuant to Section 2.2(a)(ii)(x),
and (c) Five Million Dollars ($5,000,000.00) upon the earlier of (i) the earlier of (x) the Milestone Date, or (y) May 14, 2016, or (ii) the Funding Date of any portion of the Term B Loan pursuant to
Section 2.2(a)(ii)(x). 
 (vii) Section 7.16. Section 7.16 is hereby amended and restated as
follows: 
 7.16 Reserved.  

(b) References Within Loan and Security Agreement. Each reference in the Loan and Security Agreement to “this Agreement” and
the words “hereof,” “herein,” “hereunder,” or words of like import, shall mean and be a reference to the Loan and Security Agreement as amended by this Second Amendment. 

SECTION 3 Conditions of Effectiveness. The effectiveness of Section 2 of this Second Amendment shall be subject to the satisfaction of each
of the following conditions precedent: 
 (a) This Second Amendment. The Collateral Agent shall have received this Second Amendment,
executed by the Collateral Agent, the Lenders and the Borrower. 
 (b) Fees and Expenses. The Borrower shall have paid (i) all
invoiced costs and expenses then due in accordance with Section 5(d), and (ii) all other fees, costs and expenses, if any, due and payable as of the Second Amendment Effective Date under the Loan and Security Agreement. 

(c) Equity Raise. Borrower shall not fail to receive, following the First Amendment Effective Date, in an aggregate amount of at least
Ten Million Dollars ($10,000,000.00), gross proceeds from any combination of either or both of the following: (i) upfront, milestone or royalty payments in connection with Permitted Licenses, distribution, or collaboration agreements, in each
case as permitted hereunder and subject to terms and conditions reasonably acceptable to Collateral Agent, or (ii) a bona fide equity financing from investors, provided that such equity financing shall not permit, or include any provision,
permitting redemption, “clawbacks” or similar rights to any proceeds funded, liquidated damages, escrow or deposit arrangements, blocked account provisions, limitations on the use of any proceeds, setoff or similar rights with respect to
the proceeds of such transaction or any other funds, or other restrictions encumbering or limiting the use of the net proceeds from such transaction or series of related transactions, in each case subject to verification by Collateral Agent
(including supporting documentation reasonably requested by Collateral Agent). 
 (d) The Warrants. The Collateral Agent shall have
received the Second Amendment Warrants, which shall consist of (i) a warrant issued to “NSPH Funding LLC” in the amount of 300,000 shares, and (ii) a warrant issued to “SWK Funding LLC” in the amount of 200,000 shares,
each such warrant to be issued by Borrower on or before the Second Amendment Effective Date in form and substance acceptable to Collateral Agent and such Lender, together with a registration rights agreement, which shall relate only to the Second
Amendment Warrants, in form and substance satisfactory to the Collateral Agent and each Lender (provided, that for the avoidance of doubt, such registration rights agreement shall encompass all of the registration rights to the Second
Amendment Warrants). 
 (e) Representations and Warranties; No Default. On the Second Amendment Effective Date, after giving effect
to the amendment of the Loan and Security Agreement contemplated hereby: 
 (i) The representations and warranties contained
in Section 4 shall be true and correct on and as of the Second Amendment Effective Date as though made on and as of such date; and 

(ii) There exist no Events of Default or events that with the passage of time would result in an Event of Default. 

  
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 SECTION 4 Representations and Warranties. To induce the Lenders to enter into this Second Amendment, the
Borrower hereby confirms, as of the date hereof, (a) that the representations and warranties made by it in Section 5 of the Loan and Security Agreement and in the other Loan Documents are true and correct in all material respects;
provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof. For the purposes of this Section 4,
(i) each reference in Section 5 of the Loan and Security Agreement to “this Agreement,” and the words “hereof,” “herein,” “hereunder,” or words of like import in such Section, shall mean and
be a reference to the Loan and Security Agreement as amended by this Second Amendment, and (ii) any representations and warranties which relate solely to an earlier date shall not be deemed confirmed and restated as of the date hereof (provided
that such representations and warranties shall be true, correct and complete as of such earlier date); (b) that there has not been and there does not exist a Material Adverse Change; and (c) that the information included in the Perfection
Certificate delivered to Collateral Agent on the Effective Date remains true and correct. 
 SECTION 5 Miscellaneous. 

(a) Loan Documents Otherwise Not Affected; Reaffirmation. Except as expressly amended pursuant hereto, the Loan and Security Agreement
and the other Loan Documents shall remain unchanged and in full force and effect and are hereby ratified and confirmed in all respects. The Lenders’ and the Collateral Agent’s execution and delivery of, or acceptance of, this Second
Amendment shall not be deemed to create a course of dealing or otherwise create any express or implied duty by any of them to provide any other or further amendments, consents or waivers in the future. The Borrower hereby reaffirms the grant of
security under Section 4.1 of the Loan and Security Agreement and hereby reaffirms that such grant of security in the Collateral secures all Obligations under the Loan and Security Agreement, including without limitation any Term Loans
funded on or after the Second Amendment Effective Date, as of the date hereof. 
 (b) Conditions. For purposes of determining
compliance with the conditions specified in Section 3, each Lender that has signed this Second Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required
thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Collateral Agent shall have received notice from such Lender prior to the Second Amendment Effective Date specifying its objection thereto. 

(c) No Reliance. The Borrower hereby acknowledges and confirms to the Collateral Agent and the Lenders that the Borrower is executing
this Second Amendment on the basis of its own investigation and for its own reasons without reliance upon any agreement, representation, understanding or communication by or on behalf of any other Person. 

(d) Costs and Expenses. The Borrower agrees to pay to the Collateral Agent within ten (10) days of its receipt of an invoice (or
on the Second Amendment Effective Date to the extent invoiced on or prior to the Second Amendment Effective Date), the out-of-pocket costs and expenses of the Collateral Agent and the Lenders party hereto, and the fees and disbursements of counsel
to the Collateral Agent and the Lenders party hereto (including allocated costs of internal counsel), in connection with the negotiation, preparation, execution and delivery of this Second Amendment and any other documents to be delivered in
connection herewith on the Second Amendment Effective Date or after such date. 
 (e) Binding Effect. This Second Amendment binds and
is for the benefit of the successors and permitted assigns of each party. 
 (f) Governing Law. THIS SECOND AMENDMENT AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL IN ALL RESPECTS BE 

  
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GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAWS
OTHER THAN THE LAWS OF THE STATE OF NEW YORK), INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, REGARDLESS OF THE LOCATION OF THE COLLATERAL. 

(g) Complete Agreement; Amendments. This Second Amendment and the Loan Documents represent the entire agreement about this subject
matter and supersede prior negotiations or agreements with respect to such subject matter. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Second Amendment and
the Loan Documents merge into this Agreement and the Loan Documents. 
 (h) Severability of Provisions. Each provision of this Second
Amendment is severable from every other provision in determining the enforceability of any provision. 
 (i) Counterparts. This
Second Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. Delivery of an executed
counterpart of a signature page of this Second Amendment by facsimile, portable document format (.pdf) or other electronic transmission will be as effective as delivery of a manually executed counterpart hereof. 

(j) Loan Documents. This Second Amendment and the documents related thereto shall constitute Loan Documents. 

[Balance of Page Intentionally Left Blank; Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have duly executed this Second Amendment, as of the date
first above written, to be effective as of the Second Amendment Effective Date. 
  

			
	BORROWER:
	
	NANOSPHERE, INC.
		
	By:	 	 /s/ Michael K. McGarrity

	Name:	 	 Michael K. McGarrity

	Title:	 	 CEO

	
	COLLATERAL AGENT AND LENDER:
	
	NSPH Funding LLC
		
	By:	 	 /s/ Stephen J. DeNelsky

	Name:	 	 Stephen J. DeNelsky

	Title:	 	 President

	
	LENDER:
	
	SWK FUNDING LLC
	
	 By: SWK Holdings Corporation
 its
sole Manager

		
	By:	 	 /s/ Winston Black

	Name:	 	 Winston Black

	Title:	 	 Managing Director

 [Signature Page to Second Amendment to Loan and Security Agreement]EX-10.2

 Exhibit 10.2 

REGISTRATION RIGHTS AGREEMENT 
 This
Registration Rights Agreement (this “Agreement”) is made and entered into as of December 7, 2015, by and among Nanosphere, Inc., a Delaware corporation (the “Company”), and the holders signatory hereto (each a
“Lender” and collectively, the “Lenders”). 
 This Agreement is made in connection with that certain Second Amendment
dated as of December 7, 2015 (the “Second Amendment”) to the Loan and Security Agreement, dated as of May 14, 2015, among the Company and the Lenders (the “Loan Agreement”) and the additional warrants
issued by the Company to the Lenders in connection with the Second Amendment (the “Second Amendment Warrants”). 
 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 Lenders agree as follows: 

1. Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in the Loan Agreement, as amended
through the date hereof. As used in this Agreement, the following terms shall have the respective meanings set forth in this Section 1: 

“Commission” means the United States Securities and Exchange Commission, or any successor entity or entities, including, if applicable, the
staff of the Commission. 
 “Common Stock” means the common stock, par value $0.01 per share, of the Company. 

“Effectiveness Date” means: (a) with respect to the Initial Registration, the 120th day following the Filing Date (or the 150th day
following the Filing Date in the event the Initial Registration Statement is reviewed by the Commission), and (b) with respect to any additional Registration Statements that may be required pursuant to Section 2 hereof, the 60th day
following the date on which the Company first knows, or reasonably should have known, that such additional Registration Statement is required under such Section (or the 90th day following such date in the event such additional Registration Statement
is reviewed by the Commission). If the Effectiveness Date falls on a Saturday, Sunday or other date that the Commission is closed for business, the Effectiveness Date shall be extended to the next day on which the Commission is open for business.

 “Effectiveness Period” shall have the meaning set forth in Section 2(a). 

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

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

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Excluded Registration Statement” means the Company’s registration statement on Form S-1, File No. 333-207460, and including, the
Prospectus, amendments and supplements thereto, including pre- and post-effective amendments, and any successor registration statement relating to the securities registered by such registration statement on Form S-1. 

“Filing Date” means: (a) with respect to the Initial Registration Statement required to be filed to cover the resale by the Holders of
the Registrable Securities, the date on which the Company files its Annual Report on Form 10-K for the year ending December 31, 2015 with the U.S. Securities and Exchange Commission, and (b) with respect to any additional Registration
Statements that may be required pursuant to Section 2 hereof, the earliest practical date on which the Company is permitted by SEC Guidance to file such additional Registration Statement related to the Registrable Securities. 

 “Holder” or “Holders” means the holder or holders, as the case may be, from
time to time of Registrable Securities. 
 “Indemnified Party” shall have the meaning set forth in Section 5(c). 

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

“Initial Registration Statement” shall mean the initial Registration Statement required to be filed to cover the resale by the Holders of the
Registrable Securities pursuant to Section 2(a). 
 “Issuer Filing” shall have the meaning set forth in Section 3(j). 

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

“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 
 “Proceeding” means an
action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened. 

“Prospectus” means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any
information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A or Rule 430B promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with
respect to the terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by
reference or deemed to be incorporated by reference in such Prospectus. 
 “Reduction Securities” shall have the meaning set forth in
Section 2(b). 
 “Registrable Securities” means (a) the Shares issuable upon exercise of the Second Amendment Warrants issued in
connection with the Second Amendment and (b) any other shares of Common Stock issued as (or issuable upon conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, in
exchange for or in replacement of the Shares; provided, that the securities referred to in (a)-(b) above shall cease to be Registrable Securities (x) upon the sale of such securities pursuant to a Registration Statement or
(y) upon the sale of such securities pursuant to Rule 144 under the Securities Act. 
 “Registration Statement” means each of the
following: (a) an initial registration statement which is required to register the resale of the Registrable Securities, and (b) each additional registration statement, if any, contemplated by Section 2, and including, in each case,
the Prospectus, amendments and supplements to each such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in
such registration statement, but excluding the Excluded Registration Statement. 
 “Rule 144” means Rule 144 promulgated by the Commission
pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Rule 424” means Rule
424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

 “SEC Guidance” means (i) any publicly-available written or oral guidance of the Commission
staff, or any comments, requirements or requests of the Commission staff and (ii) the Securities Act. 
 “Securities Act” means the
Securities Act of 1933, as amended. 
 “Shares” shall have the meaning set forth in the Second Amendment Warrants. 

“Trading Day” means any day on which the Common Stock is traded on the Trading Market (as defined in the Second Amendment Warrants). 

2. Registration. 
 (a) On or prior to each Filing Date,
the Company shall prepare and file with the Commission a Registration Statement covering the resale of all Registrable Securities not already covered by an existing and effective Registration Statement to be made on a continuous basis pursuant to
Rule 415. The Registration Statement shall be on Form S-3 (except if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, in which case such registration shall be on another appropriate form for such
purpose) and shall contain (except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration Statement) the “Plan of Distribution” in substantially the form attached hereto as
Annex A. The Company shall use its reasonable best efforts to cause each Registration Statement to be declared effective under the Securities Act as soon as possible but, in any event, no later than the Effectiveness Date for such
Registration Statement, and shall use its reasonable best efforts to keep the Registration Statement continuously effective under the Securities Act until the date on which all securities under such Registration Statement have ceased to be
Registrable Securities (the “Effectiveness Period”). It is agreed and understood that the Company shall, from time to time, be obligated to file one or more additional Registration Statements to cover any Registrable Securities
which are not registered for resale pursuant to a pre-existing Registration Statement. 
 (b) Notwithstanding anything contained herein to the contrary, in
the event that the Commission limits the amount of Registrable Securities that may be included and sold by Holders in any Registration Statement, including the Initial Registration Statement, the Company may reduce the number of Registrable
Securities included in such Registration Statement on behalf of the Holders in whole or in part (in case of an exclusion as to a portion of such Registrable Securities, such portion shall be allocated pro rata among all holders of securities covered
by such Registration Statement, which may include Persons who are not Holders party to this Agreement or the Loan Agreement, as amended through the date hereof, in proportion to the respective numbers of securities to be registered by each such
Person over the total amount of securities to be registered on such Registration Statement) (the amount of such excluded Registrable Securities, the “Reduction Securities”). In such event the Company shall give the Holders prompt
written notice of the number of such Reduction Securities excluded. The Company shall use its reasonable best efforts at the first opportunity that is permitted by the Commission to register for resale the Reduction Securities. Such new Registration
Statement shall be on Form S-3 (except if the Company is not then eligible to register for resale the Reduction Securities on Form S-3, in which case such registration shall be on another appropriate form for such purpose) and shall contain
(except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration Statement) the “Plan of Distribution” in substantially the form attached hereto as Annex A. The Company shall
use its reasonable best efforts to cause each such Registration Statement to be declared effective under the Securities Act as soon as possible but, in any event, no later than the Effectiveness Date, and shall use its reasonable best efforts to
keep such Registration Statement continuously effective under the Securities Act during the entire Effectiveness Period. 
 3. Registration
Procedures 
 In connection with the Company’s registration obligations hereunder, the Company shall: 

(a) Not less than three Trading Days prior to the filing of a Registration Statement or any related Prospectus or any amendment or supplement thereto, the
Company shall furnish to the Holders copies of all such documents proposed to be filed (other than those incorporated by reference). Notwithstanding the foregoing, the Company shall not be required to furnish to the Holders any prospectus supplement
being prepared and filed solely to name new or additional selling securityholders unless such Holders are named in such prospectus supplement. In addition, in the 

 
event that any Registration Statement is on Form S-1 (or other form which does not permit incorporation by reference), the Company shall not be required to furnish to the Holders any prospectus
supplement containing information included in a report or proxy statement filed under the Exchange Act that would be incorporated by reference in such Registration Statement if such Registration Statement were on Form S-3 (or other form which
permits incorporation by reference). The Company shall duly consider any comments made by Holders but shall not be required to accept any such comments to which it reasonably objects. 

(b) (i) Prepare and file with the Commission such amendments, including post-effective amendments, to each Registration Statement and the Prospectus used
in connection therewith as may be necessary to keep such Registration Statement continuously effective as to the applicable Registrable Securities for its Effectiveness Period and prepare and file with the Commission such additional Registration
Statements in order to register for resale under the Securities Act all of the Registrable Securities; (ii) cause the related Prospectus to be amended or supplemented by any required Prospectus supplement, and as so supplemented or amended to
be filed pursuant to Rule 424; (iii) respond as promptly as reasonably possible to any comments received from the Commission with respect to each Registration Statement or any amendment thereto and, as promptly as reasonably possible provide
the Holders true and complete copies of all correspondence from and to the Commission relating to such Registration Statement that pertains to the Holders as Selling Stockholders but not any comments that would result in the disclosure to the
Holders of material and non-public information concerning the Company; and (iv) comply in all material respects with the provisions of the Securities Act and the Exchange Act with respect to the Registration Statements and the disposition of
all Registrable Securities covered by each Registration Statement. 
 (c) Notify the Holders as promptly as reasonably possible (and, in the case of (i)(A)
below, not less than three Trading Days prior to such filing) and (if requested by any such Person) confirm such notice in writing no later than one Trading Day following the day: (i)(A) when a Prospectus or any prospectus supplement (but only to
the extent notice is required under Section 3(a) above) or post-effective amendment to a Registration Statement is proposed to be filed; (B) when the Commission notifies the Company whether there will be a “review” of such
Registration Statement and whenever the Commission comments in writing on such Registration Statement (in which case the Company shall provide true and complete copies thereof and all written responses thereto to each of the Holders that pertain to
the Holders as a Selling Stockholder or to the Plan of Distribution, but not information which the Company reasonably believes would constitute material and non-public information); and (C) with respect to each Registration Statement or any
post-effective amendment, when the same has been declared effective; (ii) of any request by the Commission or any other federal or state governmental authority for amendments or supplements to a Registration Statement or Prospectus or for
additional information that pertains to the Holders as Selling Stockholders or the Plan of Distribution; (iii) of the issuance by the Commission of any stop order suspending the effectiveness of a Registration Statement covering any or all of
the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the
Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; (v) of the occurrence of any event or passage of time that makes the financial statements included or incorporated by
reference in a Registration Statement ineligible for inclusion or incorporation by reference therein or any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference
untrue in any material respect or that requires any revisions to such Registration Statement, Prospectus or other documents so that, in the case of such Registration Statement or the Prospectus, as the case may be, it will not contain any untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; and (vi) of the occurrence or
existence of any pending development with respect to the Company that the Company believes may be material and that, in the determination of the Company, makes it not in the best interest of the Company to allow continued availability of a
Registration Statement or Prospectus; provided, that any and all of such information shall remain confidential to each Holder until such information otherwise becomes public, unless disclosure by a Holder is required by law; provided,
further, that notwithstanding each Holder’s agreement to keep such information confidential, each such Holder makes no acknowledgement that any such information is material, non-public information. 

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

 (e) Furnish to each Holder, without charge, at least one conformed copy of each Registration Statement and each
amendment thereto and all exhibits to the extent reasonably requested by such Person (including those previously furnished or incorporated by reference) promptly after the filing of such documents with the Commission; provided, that the
Company shall have no obligation to provide any document pursuant to this clause that is available on the EDGAR system. 
 (f) Promptly deliver to each
Holder, without charge, as many copies of each Prospectus or Prospectuses (including each form of prospectus) and each amendment or supplement thereto as such Persons may reasonably request. The Company hereby consents to the use of such Prospectus
and each amendment or supplement thereto by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto. 

(g) Prior to any public offering of Registrable Securities, use its reasonable best efforts to register or qualify or cooperate with the selling Holders in
connection with the registration or qualification (or exemption from such registration or qualification) of such Registrable Securities for offer and sale under the securities or Blue Sky laws of those jurisdictions within the United States as any
Holder reasonably requests in writing to keep each such registration or qualification (or exemption therefrom) effective during the Effectiveness Period and to do any and all other acts or things necessary or advisable to enable the disposition in
such jurisdictions of the Registrable Securities covered by the Registration Statements; provided, that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or subject the
Company to any material tax in any such jurisdiction where it is not then so subject. 
 (h) Cooperate with the Holders to facilitate the timely preparation
and delivery of certificates representing Registrable Securities to be delivered to a transferee pursuant to the Registration Statements, which certificates shall be free, to the extent permitted by the Second Amendment Warrants, of all restrictive
legends, and to enable such Registrable Securities to be in such denominations and registered in such names as any such Holders may request. 
 (i) Upon the
occurrence of any event contemplated by Section 3(c)(v), as promptly as reasonably possible, prepare a supplement or amendment, including a post-effective amendment, to the affected Registration Statements or a supplement to the related
Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. 

(j) If required by the FINRA Corporate Financing Department or any similar entity, promptly effect a filing with FINRA pursuant to FINRA Rule 5110 with
respect to the public offering contemplated by resales of securities under the Registration Statement (an “Issuer Filing”), and pay the filing fee required by such Issuer Filing. 

4. Registration Expenses. All fees and expenses incident to the Company’s performance of or compliance with its obligations under this Agreement
(excluding any underwriting discounts and selling commissions) shall be borne by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred to in the foregoing sentence shall
include, without limitation, (i) all registration and filing fees (including, without limitation, fees and expenses (A) with respect to filings required to be made with the Trading Market on which the Common Stock is then listed for
trading, and (B) in compliance with applicable state securities or Blue Sky laws), (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities and of printing prospectuses if the
printing of prospectuses is reasonably requested by the holders of a majority of the Registrable Securities included in the Registration Statement), (iii) messenger, telephone and delivery expenses, (iv) reasonable fees and disbursements
of counsel for the Company, (v) Securities Act liability insurance, if the Company so desires such insurance, and (vi) reasonable fees and expenses of all other Persons retained by the Company in connection with the consummation of the
transactions contemplated by this Agreement. In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without
limitation, all salaries and 

 
expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable
Securities on any securities exchange as required hereunder. In no event shall the Company be responsible for any broker or similar commissions of any Holder or, except to the extent provided for herein, any legal fees or other costs of the Holders.

 5. Indemnification. 
 (a) Indemnification by the
Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless each Holder, the officers, directors, agents, partners, members, stockholders and employees of each Holder, each Person who controls any
such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers, directors, agents, partners, members, stockholders and employees of each such controlling Person, to the fullest
extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable costs of preparation and reasonable attorneys’ fees) and expenses (collectively,
“Losses”), as incurred, arising out of or relating to any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus or any form of prospectus or in any amendment or supplement
thereto (it being understood that the Holder has approved Annex A hereto for this purpose), or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein (in the case of any Prospectus or form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading or any violation or alleged violation by the Company of the Securities Act or any other
similar federal or state securities law or any rule or regulation promulgated thereunder applicable to the Company relating to any such registration, qualification or compliance, except to the extent, but only to the extent, that (i) such
untrue statements, alleged untrue statements, omissions or alleged omissions are based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein, or to the extent that such information
relates to such Holder or such Holder’s proposed method of distribution of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for use in the Registration Statement, such Prospectus or such form of
Prospectus or in any amendment or supplement thereto (it being understood that the Holder has approved Annex A hereto for this purpose) or (ii) in the case of an occurrence of an event of the type specified in Section 3(c)(ii)(v),
the use by such Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior to the receipt by such Holder of written notice from the Company that the use
of the Prospectus may be resumed or an amended or supplemented Prospectus, but only if and to the extent that following the receipt of such written notice or the amended or supplemented Prospectus the misstatement or omission giving rise to such
Loss would have been corrected. The Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding of which the Company is aware in connection with the transactions contemplated by this Agreement. 

(b) Indemnification by Holders. Each Holder shall, notwithstanding any termination of this Agreement, severally and not jointly, indemnify and hold
harmless the Company, its directors, officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents,
partners, members, stockholders or employees of such controlling Persons, to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising solely out of or based solely upon: (i) for so long as the prospectus
delivery requirements of the Securities Act apply to sales by such Holder, such Holder’s failure to comply with the prospectus delivery requirements of the Securities Act or (ii) any untrue statement of a material fact contained in any
Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or supplement thereto, or arising solely out of or based solely upon any omission of a material fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus, or any form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading to the extent, but only to the extent that, (A) such untrue statements
or omissions are based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein, or to the extent that such information relates to such Holder or such Holder’s proposed method of
distribution of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for use in the Registration Statement, such Prospectus or such form of Prospectus or in any amendment or supplement thereto (it being
understood that the Holder has approved Annex A hereto for this purpose) or (B) in the case of an occurrence of an event of the type specified in Section 3(c)(ii)(v), the use by such Holder of an outdated or defective Prospectus after the
Company has notified such Holder in writing that the Prospectus is outdated or defective and prior to the receipt by such Holder of written notice from the Company that the use of the Prospectus 

 
may be resumed or an amended or supplemented Prospectus, but only if and to the extent that following the receipt of such written notice or the amended or supplemented Prospectus the misstatement
or omission giving rise to such Loss would have been corrected. In no event shall the liability of any Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder upon the sale of the Registrable
Securities giving rise to such indemnification obligation. 
 (c) Conduct of Indemnification Proceedings. If any Proceeding shall be brought or
asserted against any Person entitled to indemnity hereunder (an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is sought (the “Indemnifying Party”) in writing, and
the Indemnifying Party shall assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in connection with defense thereof; provided, that
the failure of any Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be finally determined by a court of
competent jurisdiction (which determination is not subject to appeal or further review) that such failure shall have proximately and materially adversely prejudiced the Indemnifying Party. 

An Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the fees and
expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (i) the Indemnifying Party has agreed in writing to pay such fees and expenses; (ii) the Indemnifying Party shall have failed promptly to assume
the defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding; or (iii) the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified
Party and the Indemnifying Party, and such Indemnified Party shall have been advised by counsel that a conflict of interest is likely to exist if the same counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if
such Indemnified Party notifies the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense thereof and such counsel
shall be at the expense of the Indemnifying Party); provided, that the Indemnifying Party shall not be liable for the fees and expenses of more than one separate firm of attorneys at any time for all Indemnified Parties pursuant to this
Section 5(c). The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which consent shall not be unreasonably withheld. No Indemnifying Party shall, without the prior written
consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party, unless such settlement includes an unconditional release of such Indemnified Party from all liability on claims
that are the subject matter of such Proceeding. 
 All fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent
incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section) shall be paid to the Indemnified Party, as incurred, within ten (10) Trading Days of written notice thereof to the
Indemnifying Party (regardless of whether it is ultimately determined that an Indemnified Party is not entitled to indemnification hereunder; provided, that the Indemnifying Party may require such Indemnified Party to undertake to reimburse
all such fees and expenses to the extent it is finally judicially determined that such Indemnified Party is not entitled to indemnification hereunder). 

(d) Contribution. If a claim for indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party (by reason of public policy or
otherwise), then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the
relative fault of the Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party
and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or
made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action, statement or omission. The
amount paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations set forth in Section 5(c), any reasonable attorneys’ or other reasonable fees or expenses incurred by such party in
connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section was available to such party in accordance with its terms. 

 The parties hereto agree that it would not be just and equitable if contribution pursuant to this
Section 5(d) were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this
Section 5(d), no Holder shall be required to contribute, in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Holder from the sale of the Registrable Securities subject to the Proceeding
exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 
 The
indemnity and contribution agreements contained in this Section 5 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties and are not in diminution or limitation of the indemnification provisions under
the Loan Agreement, as amended through the date hereof. 
 6. Miscellaneous. 

(a) Remedies. In the event of a breach by the Company or by a Holder, of any of their obligations under this Agreement, each Holder or the Company, as
the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. The Company and each Holder
agree that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and hereby further agree that, in the event of any action for specific performance in
respect of such breach, it shall waive the defense that a remedy at law would be adequate. 
 (b) Compliance. Each Holder covenants and agrees that
it will comply with the prospectus delivery requirements of the Securities Act as applicable to it in connection with sales of Registrable Securities pursuant to the Registration Statement. 

(c) Discontinued Disposition. Each Holder agrees by its acquisition of such Registrable Securities that, upon receipt of a notice from the Company of
the occurrence of any event of the kind described in Section 3(c), such Holder will forthwith discontinue disposition of such Registrable Securities under the Registration Statement until such Holder’s receipt of the copies of the
supplemented Prospectus and/or amended Registration Statement or until it is advised in writing by the Company that the use of the applicable Prospectus may be resumed, and, in either case, has received copies of any additional or supplemental
filings that are incorporated or deemed to be incorporated by reference in such Prospectus or Registration Statement. The Company may provide appropriate stop orders to enforce the provisions of this paragraph. 

(d) Furnishing of Information. Each Holder shall furnish in writing to the Company such information regarding itself, the Registrable Securities held
by it and the intended method of disposition of the Registrable Securities held by it, as shall be reasonably requested by the Company to effect the registration of such Registrable Securities and shall execute such documents in connection with such
registration as the Company may reasonably request. 
 (e) Piggy-Back Registrations. If at any time during the Effectiveness Period, except as
contemplated by Section 2(b) hereof, there is not an effective Registration Statement covering all of the Registrable Securities and the Company shall determine to prepare and file with the Commission a registration statement relating to an
offering for its own account or the account of others under the Securities Act of any of its equity securities, other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities
to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with the stock option or other employee benefit plans, then the Company shall send to each Holder a written notice of such
determination and, if within fifteen (15) days after the date of such notice, any such Holder shall so request in writing, the Company shall include in such registration statement all or any part of such Registrable Securities such Holder
requests to be registered; provided, however, that the Company shall not be required to register any Registrable Securities pursuant to this Section 6(e) that are the subject of a then effective Registration Statement. 

(f) Reports Under the Exchange Act. With a view to making available to the Holder the benefits of Rule 144 and any other rule or regulation of the
Commission that may at any time permit the Holder to sell securities of the Company to the public without registration, the Company agrees, for so long as the Holder holds (i) all or any portion of the

 
Shares issued pursuant to the Second Amendment Warrants, and (ii) any other shares of Common Stock issued as (or issuable upon conversion or exercise of any warrant, right or other security
which is issued as) a dividend or other distribution with respect to, in exchange for or in replacement of the Shares, to use its commercially reasonable efforts to: 

(A) make and keep public information available, as those terms are understood and defined in Rule 144, at all times on and after the date hereof; 

(B) file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act (or
obtain extensions in respect thereof and file within the applicable grace period); and 
 (C) furnish to the Holder, so long as the Holder owns (1) all
or any portion of the Shares issued pursuant to the Second Amendment Warrants, and (2) any other shares of Common Stock issued as (or issuable upon conversion or exercise of any warrant, right or other security which is issued as) a dividend or
other distribution with respect to, in exchange for or in replacement of the Shares, forthwith upon request (x) a written statement by the Company that it has complied with the reporting requirements of Rule 144, the Securities Act and the
Exchange Act and (y) such other information as may be reasonably requested to avail the Holder of any rule or regulation of the Commission that permits the selling of any such securities without registration. 

(g) Amendments and Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed by the Company and the Holder
or Holders (as applicable) of no less than two-thirds of the then outstanding Registrable Securities. The Company shall provide prior notice to all Holders of any proposed waiver or amendment. No waiver of any default with respect to any provision,
condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either
party to exercise any right hereunder in any manner impair the exercise of any such right. 
 (h) Notices. All notices, requests, consents and other
communications hereunder shall be in writing, shall be sent by confirmed facsimile or electronic mail, or mailed by first-class registered or certified airmail, or nationally recognized overnight express courier, postage prepaid, and shall be deemed
given when so sent in the case of facsimile or electronic mail transmission, or when so received in the case of mail or courier, and addressed as follows: 
  

			
	If to the Company:	  	 NANOSPHERE, INC.
 4088 Commercial Avenue

Northbrook, IL 60062
 Attn: President and Chief Executive
Officer
 Fax: (847) 400-9199
 Email:
mmcgarrity@nanosphere.us

		
	with a copy (which shall not constitute notice) to:	  	 SEYFARTH SHAW LLP
 620 Eighth Avenue

New York, NY 10018-1405
 Attn: Blake Hornick

Fax: (212) 218-5526
 Email: BHornick@seyfarth.com

		
	If to NSPH Funding LLC:	  	 NSPH Funding LLC
 c/o Life Sciences Alternative
Funding LLC
 50 Main Street
 Suite 1000

White Plains, NY 10606
 Attention: Stephen J. DeNelsky

Email: steve@lsafunding.com

			
	with a copy (which shall not constitute notice) to:	  	 LATHAM & WATKINS LLP
 505 Montgomery
Street
 Suite 2000
 San Francisco, CA 94111-6538

Attn: Haim Zaltzman
 Fax: 415.395.8095

Email: haim.zaltzman@lw.com

		
	If to SWK Funding LLC:	  	 SWK Funding LLC
 14755 Preston Road, Suite
105
 Dallas, Texas 75254
 Attention: Brett Pope

Fax:
 Email: notifications@swkhold.com

		
	with a copy (which shall not constitute notice) to:	  	 Holland & Knight LLP
 200 Crescent
Court
 Dallas, TX 75201
 Attn: Ryan Magee

Fax: (214) 964-9501
 Email: ryan.magee@hklaw.com

		
	If to any other Person who is then the registered Holder:	  	To the address of such Holder as it appears in the stock transfer books of the Company

 or such other address as may be designated in writing hereafter, in the same manner, by such Person. 

(i) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the
parties and shall inure to the benefit of each Holder. Each Holder may assign its respective rights hereunder in the manner and to the Persons as permitted under the applicable Additional Warrant. 

(j) Execution and Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an
original and, all of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid binding obligation of the party executing (or on whose
behalf such signature is executed) the same with the same force and effect as if such facsimile signature were the original thereof. 
 (k) Governing
Law, Venue and Jury Trial Waiver. 
 (i) Waiver of Jury Trial. EACH PARTY UNCONDITIONALLY WAIVES ANY AND ALL RIGHT TO A JURY TRIAL OF ANY CLAIM
OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT. THIS WAIVER IS IRREVOCABLE. THIS WAIVER MAY NOT BE MODIFIED EITHER
ORALLY OR IN WRITING. THE WAIVER ALSO SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT. THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 

 

	(i)	

 (ii) Governing Law and Jurisdiction. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL IN ALL RESPECTS BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAWS OTHER THAN THE LAWS OF THE
STATE OF NEW YORK), INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE. 
 (iii) Submission to Jurisdiction. Any legal action or
proceeding with respect to this Agreement shall be brought exclusively in the courts of the State of New York located in the City of New York, Borough of Manhattan, or of the United States of America for the Southern District of New York and, by
execution and delivery of this Agreement, he Company hereby accepts, generally and unconditionally, the jurisdiction of the aforesaid courts. The parties hereto hereby irrevocably waive any objection, including any objection to the laying of venue
or based on the grounds of forum non conveniens, that any of them may now or hereafter have to the bringing of any such action or proceeding in such jurisdictions. 

(iv) Service of Process. The Company irrevocably waives personal service of any and all legal process, summons, notices and other documents and other
service of process of any kind and consents to such service in any suit, action or proceeding brought in the United States of America with respect to or otherwise arising out of or in connection with this Agreement by any means permitted by
applicable requirements of law, including by the mailing thereof (by registered or certified mail, postage prepaid) to the address of the Company specified herein (and shall be effective when such mailing shall be effective, as provided therein).
The Company agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

(v) Non-exclusive Jurisdiction. Nothing contained in this Section 6(k) shall affect the right of the Holders to serve process in any other manner
permitted by applicable requirements of law or commence legal proceedings or otherwise proceed against the Company in any other jurisdiction. 
 (l)
Cumulative Remedies. The remedies provided herein are cumulative and not exclusive of any remedies provided by law. 
 (m) Severability. If
any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall
remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their reasonable best efforts to find and employ an alternative means to achieve the same or substantially the same result as
that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including
any of such that may be hereafter declared invalid, illegal, void or unenforceable. 
 (n) Headings. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
 (o) Independent Nature of Holders’ Obligations and
Rights. The obligations of each Holder hereunder is several and not joint with the obligations of any other Holder hereunder, and no Holder shall be responsible in any way for the performance of the obligations of any other Holder hereunder.
Nothing contained herein and no action taken by any Holder pursuant hereto shall be deemed to constitute the Holder s as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Holders are in any
way acting in concert with respect to such obligations or the transactions contemplated by this Agreement. Each Holder acknowledges that no other Holder has acted as agent for such Holder in connection with this Agreement and that no other Holder
will be acting as agent of such Holder in connection with monitoring its investment in the Shares or enforcing its rights under this Agreement. Each Holder shall be entitled to 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. 

[Remainder of page intentionally left blank] 

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

			
	COMPANY:
	
	NANOSPHERE, INC.
		
	By:	 	 /s/ Michael McGarrity

	Name:	 	Michael McGarrity
	Title:	 	CEO
	
	LENDERS:
	
	NSPH Funding LLC
		
	By:	 	 /s/ Stephen J. DeNelsky

	Name:	 	 Stephen J. DeNelsky

	Title:	 	 President

	
	SWK FUNDING LLC
		
	By:	 	 /s/ Winston Black

	Name:	 	 Winston Black

	Title:	 	 Managing Director

 [Signature Page to Registration Rights Agreement] 

 ANNEX A 

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

 

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

  

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

 

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

  

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

  

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

  

	 	•	 	privately negotiated transactions; 

  

	 	•	 	short sales; 

  

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

  

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

  

	 	•	 	a combination of any such methods of disposition; and 

  

	 	•	 	any other method permitted pursuant to applicable law. 

 The selling stockholders may also sell shares under
Rule 144 under the Securities Act of 1933, as amended, or Securities Act, if available, rather than under this prospectus. 
 Broker-dealers engaged by the
selling stockholders may arrange for other broker-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the
purchaser) in amounts to be negotiated. The selling stockholders do not expect these commissions and discounts to exceed what is customary in the types of transactions involved. 

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

Upon being notified in writing by a selling stockholder that any material arrangement has been entered into with a broker-dealer for the sale of common stock
through a block trade, special offering, exchange distribution or secondary distribution or a purchase by a broker or dealer, we will file a supplement to this prospectus, if required, pursuant to Rule 424(b) under the Securities Act, disclosing
(i) the name of each such selling stockholder and of the participating broker-dealer(s), (ii) the number of shares involved, (iii) the price at which such shares of common 

 
stock were sold, (iv) the commissions paid or discounts or concessions allowed to such broker-dealer(s), where applicable, (v) that such broker-dealer(s) did not conduct any
investigation to verify the information set out or incorporated by reference in this prospectus, and (vi) other facts material to the transaction. In addition, upon being notified in writing by a selling stockholder that a donee or pledge
intends to sell more than 500 shares of common stock, we will file a supplement to this prospectus if then required in accordance with applicable securities law. 

The selling stockholders also may transfer the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors in
interest will be the selling beneficial owners for purposes of this prospectus. 
 In connection with the sale of the shares of common stock or interests in
shares of common stock, the selling stockholders may enter into hedging transactions after the effective date of the registration statement of which this prospectus is a part with broker-dealers or other financial institutions, which may in turn
engage in short sales of the common stock in the course of hedging the positions they assume. The selling stockholders may also sell shares of common stock short after the effective date of the registration statement of which this prospectus is a
part and deliver these securities to close out their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities. The selling stockholders may also enter into option or other transactions after the
effective date of the registration statement of which this prospectus is a part with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other
financial institution of shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction). The selling stockholders and
any broker-dealers or agents that are involved in selling the shares may be deemed to be “underwriters” within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. The maximum commission or discount to be received by any member of the Financial Industry
Regulatory Authority (FINRA) or independent broker-dealer will not be greater than 8% of the initial gross proceeds from the sale of any security being sold. 

We have advised the selling stockholders that they are required to comply with Regulation M promulgated under the Securities and Exchange Act during such time
as they may be engaged in a distribution of the shares. The foregoing may affect the marketability of the common stock. 
 The aggregate proceeds to the
selling securityholders from the sale of the common stock offered by them will be the purchase price of the common stock less discounts or commissions, if any. Each of the selling securityholders reserves the right to accept and, together with their
agents from time to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly or through agents. We will not receive any of the proceeds from this offering. 

We are required to pay all fees and expenses incident to the registration of the shares. We have agreed to indemnify the selling stockholders against certain
losses, claims, damages and liabilities, including liabilities under the Securities Act or otherwise. 
 We have agreed with the selling stockholders to
keep the registration statement of which this prospectus constitutes a part effective until such time as all of the shares covered by this prospectus have been disposed of pursuant to and in accordance with the registration statement of which this
prospectus forms a part or pursuant to Rule 144 of the Securities Act.

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