Document:

Exhibit 10.2

 

PLACEMENT AGENCY AGREEMENT

 

February 2, 2021

 

Pluristem Therapeutics Inc.

MATAM Advanced Technology Park

Building No. 5

Haifa L3 31905 Israel

Attention: Chen Franco-Yehuda

Chief Financial Officer

 

 

Dear Mr. Franco-Yehuda:

 

This letter (the “Agreement”)
constitutes the agreement between A.G.P./Alliance Global Partners, as placement agent (“A.G.P.”)(A.G.P. is also
referred to as, the “Placement Agent”), and Pluristem Therapeutics Inc., a company organized under the laws
of the State of Nevada (the “Company”), that the Placement Agent shall serve as the placement agent for the
Company, on a “reasonable best efforts” basis, in connection with the proposed placement (the “Placement”)
of shares of common stock, par value, $0.00001 per share (the “Shares”). The Shares actually placed by the Placement
Agent are referred to herein as the “Placement Agent Securities.” The Placement Agent Securities shall be offered
and sold under the Company’s registration statement on Form S-3 (File No. 333-239890) with respect to the Placement Agent
Securities. The documents executed and delivered by the Company and the Purchasers (as defined below) in connection with the Placement,
including, without limitation, a securities purchase agreement (the “Purchase Agreement”), shall
be collectively referred to herein as the “Transaction Documents.” The purchase price to the Purchasers for
each Share is $6.30. The Placement Agent may retain other brokers or dealers to act as sub-agents or selected-dealers on its behalf
in connection with the Placement. 

 

The terms of the Placement
shall be mutually agreed upon by the Company and the purchasers listed in the Purchase Agreement (each, a “Purchaser”
and collectively, the “Purchasers”), and nothing herein constitutes that the Placement Agent would have the
power or authority to bind the Company or any Purchaser, or an obligation for the Company will issue any Placement Agent Securities
or complete the Placement. The Company expressly acknowledges and agrees that the Placement Agent’s obligations hereunder
are on a reasonable best efforts basis only and that the execution of this Agreement does not constitute a commitment by the Placement
Agent to purchase the Placement Agent Securities and does not ensure the successful placement of the Placement Agent Securities
or any portion thereof or the success of the Placement Agent with respect to securing any other financing on behalf of the Company.
Certain affiliates of the Placement Agent may participate in the Placement by purchasing some of the Placement Agent Securities.
The sale of Placement Agent Securities to any Purchaser will be evidenced by the Purchase Agreement between the Company and such
Purchaser, in a form reasonably acceptable to the Company and the Purchaser. Capitalized terms that are not otherwise defined herein
have the meanings given to such terms in the Purchase Agreement. Prior to the signing of any Purchase Agreement, officers of the
Company will be available to answer inquiries from prospective Purchasers.

 

SECTION 1. REPRESENTATIONS
AND WARRANTIES OF THE COMPANY; COVENANTS OF THE COMPANY.

 

A.  Representations
of the Company. Each of the representations and warranties (together with any related disclosure schedules thereto) and covenants
made by the Company to the Purchasers in the Purchase Agreement in connection with the Placement, is hereby incorporated herein
by reference into this Agreement (as though fully restated herein) and is, as of the date of this Agreement and as of the Closing
Date, hereby made to, and in favor of, the Placement Agent. In addition to the foregoing, the Company represents and warrants that
there are no affiliations with any FINRA (as defined below) member firm participating in the Placement among the Company’s
officers, directors or, to the knowledge of the Company, any five percent (5.0%) or greater stockholder of the Company.

 

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  B.   Covenants
of the Company. The Company covenants and agrees to continue to retain (i) a firm of independent Public Company Accounting
Oversight Board (PCAOB) registered public accountants for a period of at least three (3) years after the Closing Date and (ii)
a competent transfer agent with respect to the Shares for a period of three (3) years after the Closing Date. Furthermore,
(i) for sixty (60) days after the closing date of the Placement, the Company shall not issue, enter into any agreement to issue
or announce the issuance or proposed issuance of any Common Stock or Common Stock Equivalents (as defined in the Purchase
Agreement) except for any Exempt Issuances (as defined in the Purchase Agreement).

 

SECTION 2.   REPRESENTATIONS
OF THE PLACEMENT AGENT. The Placement Agent, represents and warrants that it (i) is a member in good standing of the Financial
Industry Regulatory Authority (“FINRA”), (ii) is registered as a broker/dealer under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), (iii) is licensed as a broker/dealer under the laws of the United
States of America, applicable to the offers and sales of the Placement Agent Securities by the Placement Agent, (iv) is and will
be a corporate body validly existing under the laws of its place of incorporation, and (v) has full power and authority to enter
into and perform its obligations under this Agreement. The Placement Agent will immediately notify the Company in writing of any
change in its status with respect to subsections (i) through (v) above. The Placement Agent covenants that it will use its reasonable
best efforts to conduct the Placement hereunder in compliance with the provisions of this Agreement and the requirements of applicable
law. 

 

SECTION 3.  COMPENSATION.
In consideration of the services to be provided for hereunder, the Company shall pay to the Placement Agent or its respective designees
a total cash fee equal to six percent (6.0%) of gross proceeds from the Placement of the total amount of Placement Agent Securities
sold (the “Cash Fee”). The Placement Agent reserves the right to reduce any item of compensation or adjust the
terms thereof as specified herein in the event that a determination shall be made by FINRA to the effect that the Placement Agent’s
aggregate compensation is in excess of FINRA Rules or that the terms thereof require adjustment.

 

SECTION 4.  EXPENSES.
The Company agrees to pay all costs, fees and expenses incurred by the Company in connection with the performance of its obligations
hereunder and in connection with the transactions contemplated hereby, including, without limitation: (i) all expenses incident
to the issuance, delivery and qualification of the Placement Agent Securities (including all printing and engraving costs); (ii)
all fees and expenses of the registrar and transfer agent of the Shares; (iii) all necessary issue, transfer and other stamp taxes
in connection with the issuance and sale of the Placement Agent Securities; (iv) all fees and expenses of the Company’s
counsel, independent public or certified public accountants and other advisors; (v) all costs and expenses incurred in connection
with the preparation, printing, filing, shipping and distribution of the Registration Statement (including financial statements,
exhibits, schedules, consents and certificates of experts), the Base Prospectus and each Prospectus Supplement, and all amendments
and supplements thereto, and this Agreement; (vi) all filing fees, reasonable attorneys’ fees and expenses incurred by the
Company in connection with qualifying or registering (or obtaining exemptions from the qualification or registration of) all or
any part of the Placement Agent Securities for offer and sale under the state securities or blue sky laws or the securities laws
of any other country; and (vii) the fees and expenses associated with including the Placement Agent Securities on the Trading Market.
Notwithstanding the foregoing, any advance received by the Placement Agent will be reimbursed to the Company to the extent not
actually incurred in compliance with FINRA Rule 5110(g)(4)(A).

 

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SECTION 5.  INDEMNIFICATION.

 

A.   To
the extent permitted by law, with respect to the Placement Agent Securities, the Company will indemnify the Placement Agent and
its affiliates, stockholders, directors, officers, employees, members and controlling persons (within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act) against all losses, claims, damages, expenses and liabilities, as the
same are incurred (including the reasonable fees and expenses of counsel), relating to or arising out of its activities hereunder
or pursuant to this Agreement, except to the extent that any losses, claims, damages, expenses or liabilities (or actions in respect
thereof) are found in a final judgment (not subject to appeal) by a court of law to have resulted primarily and directly from a
Placement Agent’s willful misconduct or gross negligence in performing the services described herein.

 

B.   Promptly
after receipt by the Placement Agent of notice of any claim or the commencement of any action or proceeding with respect to which
the Placement Agent is entitled to indemnity hereunder, the Placement Agent will promptly notify the Company in writing of such
claim or of the commencement of such action or proceeding, but failure to so notify the Company shall not relieve the Company from
any obligation it may have hereunder, except and only to the extent such failure results in the forfeiture by the Company of substantial
rights and defenses. If the Company so elects or is requested by the Placement Agent, the Company will assume the defense of such
action or proceeding and will employ counsel reasonably satisfactory to the Placement Agent and will pay the fees and expenses
of such counsel. Notwithstanding the preceding sentence, the Placement Agent will be entitled to employ its own counsel separate
from counsel for the Company and from any other party in such action if counsel for the Placement Agent reasonably determines that
it would be inappropriate under the applicable rules of professional responsibility for the same counsel to represent both the
Company and the Placement Agent. In such event, the reasonable fees and disbursements of no more than one such separate counsel
will be paid by the Company, in addition to fees of local counsel. The Company will have the right to settle the claim or proceeding,
provided that the Company will not settle any such claim, action or proceeding without the prior written consent of the Placement
Agent, which will not be unreasonably withheld.

 

C.   The
Company agrees to notify the Placement Agent promptly of the assertion against it or any other person of any claim or the commencement
of any action or proceeding relating to a transaction contemplated by this Agreement.

 

D.   If
for any reason the foregoing indemnity is unavailable to the Placement Agent or insufficient to hold the Placement Agent harmless,
then the Company shall contribute to the amount paid or payable by the Placement Agent as a result of such losses, claims, damages
or liabilities in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one
hand and the Placement Agent on the other, but also the relative fault of the Company on the one hand and the Placement Agent on
the other that resulted in such losses, claims, damages or liabilities, as well as any relevant equitable considerations. The amounts
paid or payable by a party in respect of losses, claims, damages and liabilities referred to above shall be deemed to include any
legal or other fees and expenses incurred in defending any litigation, proceeding or other action or claim. Notwithstanding the
provisions hereof, the Placement Agent’s share of the liability hereunder shall not be in excess of the amount of fees actually
received, or to be received, by the Placement Agent under this Agreement (excluding any amounts received as reimbursement of expenses
incurred by the Placement Agent).

 

E.   These
indemnification provisions shall remain in full force and effect whether or not the transaction contemplated by this Agreement
is completed and shall survive the termination of this Agreement, and shall be in addition to any liability that the Company might
otherwise have to any indemnified party under this Agreement or otherwise.

 

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SECTION 6.  ENGAGEMENT
TERM. The Placement Agent’s engagement hereunder will be until the earlier of (i) February 10, 2021 and (ii) the Closing
Date. The date of termination of this Agreement is referred to herein as the “Termination Date.” In the event,
however, in the course of the Placement Agent’s performance of due diligence it deems, it necessary to terminate the engagement,
the Placement Agent may do so prior to the Termination Date. The Company may elect to terminate the engagement hereunder for any
reason prior to the Termination Date but will remain responsible for fees pursuant to Section 3 hereof with respect to the Placement
Agent Securities if sold in the Placement. Notwithstanding anything to the contrary contained herein, the provisions concerning
the Company’s obligation to pay any fees actually earned pursuant to Section 3 hereof and the provisions concerning confidentiality,
indemnification and contribution contained herein will survive any expiration or termination of this Agreement. If this Agreement
is terminated prior to the completion of the Placement, all fees due to the Placement Agent as set forth in Section 3 shall be
paid by the Company to the Placement Agent on or before the Termination Date (in the event such fees are earned or owed as of the
Termination Date). The Placement Agent agree not to use any confidential information concerning the Company provided to the Placement
Agent by the Company for any purposes other than those contemplated under this Agreement.

 

SECTION 7. PLACEMENT
AGENT INFORMATION. The Company agrees that any information or advice rendered by the Placement Agent in connection with this
engagement is for the confidential use of the Company only in its evaluation of the Placement and, except as otherwise required
by law, the Company will not disclose or otherwise refer to the advice or information in any manner without the Placement Agent’s
prior written consent.

 

SECTION 8.  NO
FIDUCIARY RELATIONSHIP. This Agreement does not create, and shall not be construed as creating rights enforceable by any person
or entity not a party hereto, except those entitled hereto by virtue of the indemnification provisions hereof. The Company acknowledges
and agrees that the Placement Agent is not and shall not be construed as a fiduciary of the Company and shall have no duties or
liabilities to the equity holders or the creditors of the Company or any other person by virtue of this Agreement or the retention
of the Placement Agent hereunder, all of which are hereby expressly waived.

 

SECTION 9.  CLOSING.
The obligations of the Placement Agent, and the closing of the sale of the Placement Agent Securities hereunder are subject to
the accuracy, when made and on the Closing Date, of the representations and warranties on the part of the Company contained herein
and in the Purchase Agreement, to the performance by the Company of its obligations hereunder, and to each of the following additional
terms and conditions, except as otherwise disclosed to and acknowledged and waived by the Placement Agent:

 

A.   All
corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of
this Agreement, the Placement Agent Securities, and all other legal matters relating to this Agreement and the transactions contemplated
hereby with respect to the Placement Agent Securities shall be reasonably satisfactory in all material respects to the Placement
Agent.

 

B.   The
Placement Agent shall have received from outside counsel to the Company such counsel’s written opinion with respect to the
Placement Agent Securities, addressed to the Placement Agent and dated as of the Closing Date, in form and substance reasonably
satisfactory to the Placement Agent.

 

C.   The
Shares shall be registered under the Exchange Act. The Company shall have taken no action designed to, or likely to have the effect
of terminating the registration of the Common Stock under the Exchange Act or delisting or suspending from trading the Shares from
the Trading Market or other applicable U.S. national exchange, nor has the Company received any information suggesting that the
Commission or the Trading Market or other U.S. applicable national exchange is contemplating terminating such registration or listing.

 

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  D.   No
action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental
agency or body which would, as of the Closing Date, prevent the issuance or sale of the Placement Agent Securities or materially
and adversely affect or potentially and adversely affect the business or operations of the Company; and no injunction, restraining
order or order of any other nature by any federal or state court of competent jurisdiction shall have been issued as of the Closing
Date which would prevent the issuance or sale of the Placement Agent Securities or materially and adversely affect or potentially
and adversely affect the business or operations of the Company.

 

E.   The
Company shall have entered into a Purchase Agreement with each of the Purchasers of the Placement Agent Securities and such agreements
shall be in full force and effect and shall contain representations, warranties and covenants of the Company as agreed upon between
the Company and the Purchasers.

 

F.  The
Company is an  “experienced issuer” as such term is defined in FINRA Rule 5110 and FINRA shall have raised no
objection to the fairness and reasonableness of the terms and arrangements of this Agreement.

 

If any of the conditions
specified in this Section 9 shall not have been fulfilled when and as required by this Agreement, all obligations of the Placement
Agent hereunder may be cancelled by the Placement Agent at, or at any time prior to, the Closing Date. Notice of such cancellation
shall be given to the Company in writing or orally. Any such oral notice shall be confirmed promptly thereafter in writing.

 

SECTION 10.  
 GOVERNING LAW. This Agreement will be governed by, and construed in accordance with, the laws of the State of
New York applicable to agreements made and to be performed entirely in such State, without regard to principles of conflicts of
law. This Agreement may not be assigned by either party without the prior written consent of the other party. This Agreement shall
be binding upon and inure to the benefit of the parties hereto, and their respective successors and permitted assigns. Any right
to trial by jury with respect to any dispute arising under this Agreement or any transaction or conduct in connection herewith
is waived. Any dispute arising under this Agreement may be brought into the courts of the State of New York or into the Federal
Court located in New York, New York and, by execution and delivery of this Agreement, the Company hereby accepts for itself and
in respect of its property, generally and unconditionally, the jurisdiction of aforesaid courts. Each party hereto hereby irrevocably
waives personal service of process and consents to process being served in any such suit, action or proceeding by delivering a
copy thereof via overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. If either party
shall commence an action or proceeding to enforce any provisions of this Agreement, then the prevailing party in such action or
proceeding shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or proceeding.

 

 

SECTION 11.  Jurisdiction;
Service of Process. The Placement Agent and the Company agree that any suit, action
or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted in any federal
or New York State court located in the City and County of New York (a “New York Court”),
and waive any objection which they may now or hereafter have to the laying of venue of any such proceeding, and irrevocably submit
to the non-exclusive jurisdiction of such courts in any suit, action or proceeding. The Company further agrees that service of
process upon the Process Agent and written notice of said service to the Company, mailed by first-class mail and delivered to the
Process Agent, shall be deemed in every respect effective service of process upon the Company in any such claim. Nothing herein
shall affect the right of the Placement Agent, its partners, directors, officers and members, any person who controls the Placement
Agent within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, or any “affiliate”
(within the meaning of Rule 405 under the Securities Act) of such Placement Agent, or the successors and assigns of all of the
foregoing persons, to serve process in any other manner permitted by law. The provisions of this Section 11 shall survive any termination
of this Agreement, in whole or in part.

 

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SECTION 12.
ENTIRE AGREEMENT/MISCELLANEOUS. This Agreement embodies the entire agreement and understanding between the parties hereto,
and supersedes all prior agreements and understandings, relating to the subject matter hereof. If any provision of this Agreement
is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any other respect
or any other provision of this Agreement, which will remain in full force and effect. This Agreement may not be amended or otherwise
modified or waived except by an instrument in writing signed by both the Placement Agent and the Company. The representations,
warranties, agreements and covenants contained herein shall survive the Closing Date of the Placement and delivery of the Placement
Agent Securities. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by
facsimile transmission or a .pdf format file, such signature shall create a valid and binding obligation of the party executing
(or on whose behalf such signature is executed) with the same force and effect as if such facsimile or .pdf signature page were
an original thereof.

 

SECTION 12.  NOTICES.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is sent to
the email address specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on a business day, (b)
the next business day after the date of transmission, if such notice or communication is sent to the email address on the signature
pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New York City time) on any business day, (c)
the third business day following the date of mailing, if sent by U.S. internationally recognized air courier service, or (d) upon
actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall
be as set forth on the signature pages hereto.

 

SECTION 13.  PRESS
ANNOUNCEMENTS. The Company agrees that the Placement Agent shall, on and after the Closing Date, have the right to reference
the Placement and the Placement Agent’s role in connection therewith in the Placement Agent’s marketing materials and
on its website and to place advertisements in financial and other newspapers and journals, in each case at its own expense.

 

[The remainder of
this page has been intentionally left blank.]

 

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Please confirm that
the foregoing correctly sets forth our agreement by signing and returning to the Placement Agents the enclosed copy of this Agreement.

 

	 	Very truly yours,
	 	 	 
	 	A.G.P./ALLIANCE GLOBAL PARTNERS
	 	 	 
	 	By:	/s/ Thomas Higgins
	 	 	Name:Thomas Higgins
	 	 	Title: Managing Director

 

	 	Address for notice:
	 	 
	 	590 Madison Avenue 36th Floor
	 	New York, New York 10022
	 	Attn:Thomas J. Higgins
	 	Email: thiggins@allianceg.com

 

[Signature Page to Placement Agency Agreement.]

 

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Accepted and Agreed to as of

the date first written
above:

 

	Pluristem Therapeutics Inc.	 
	 	 	 
	By:	/s/ Chen Franco-Yehuda	 
	 	Name:Chen Franco-Yehuda	 
	 	Title: Chief Financial Officer	 

 

Address for notice:

 

MATAM Advanced Technology Park

Building No. 5

Haifa L3 31905 Israel

Attention: Chen Franco-Yehuda

Email: chenf@pluristem.com

 

[Signature Page to Placement Agency Agreement.]

 

8Exhibit 10.1

 

TWELFTH AMENDMENT TO LOAN AND SECURITY AGREEMENT

 

This TWELFTH AMENDMENT TO LOAN AND SECURITY
AGREEMENT dated as of January 31, 2021 (this “Amendment”) to the Loan and Security Agreement dated as of August
17, 2016 (as amended by the First Amendment dated as of December 12, 2016, the Second Amendment dated as of November 13, 2017 (including
the Allonge dated November 13, 2017 pursuant thereto to the Revolving Note and the Term Note), the Third Amendment dated as of
January 16, 2018, the Fourth Amendment dated as of April 27, 2018, the Fifth Amendment dated as of November 14, 2018 and a Joinder
Agreement dated as of November 20, 2018, the Sixth Amendment dated as of November 6, 2019, the Seventh Amendment dated as of December
17, 2019, the Eighth Amendment dated as of April 1, 2020, the Ninth Amendment dated as of September 29, 2020, the Tenth Amendment
dated as of November 30, 2020, the Eleventh Amendment dated as of December 31, 2020, and as it may be further amended, restated,
supplemented, modified or otherwise changed from time to time, the “Loan Agreement”), is by and among Creative
Realities, Inc., a Minnesota corporation (“CRI”), Creative Realities, LLC, a Delaware limited liability company
(“CRLLC”), Conexus World Global, LLC, a Kentucky limited liability company (“Conexus”), and
Allure Global Solutions, Inc. a Georgia corporation (“Allure” and collectively referred to together with CRI,
CRLLC and Conexus as the “Borrower”), and Slipstream Communications, LLC, an Anguillan limited liability company
(the “Lender”). All terms used herein that are defined in the Loan Agreement and not otherwise defined herein
shall have the respective meanings assigned to them in the Loan Agreement.

 

WHEREAS, Lender is the holder of that certain
Secured Convertible Special Loan Promissory Note issued on December 30, 2019 (the “Special Loan”) by the Borrower;

 

WHEREAS, the Special Loan automatically
converts to New Preferred (as defined in the Loan Agreement) on January 31, 2021 and the Lender and Borrower desire to extend the
conversion date as set forth herein.

 

NOW THEREFORE, in consideration
of the premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower
and the Lender, intending to be legally bound, hereby agree as follows:

 

1. Amendments. The Loan Agreement is hereby amended
as follows:

 

a) The
first sentence of Section 1.7 is hereby amended to replace “January 31, 2021” with “February 28, 2021”.

 

b) Schedule
A is hereby amended by adding the following definitions, in appropriate alphabetical order:

 

i) “Twelfth
Amendment’ means the Twelfth Amendment to Loan and Security Agreement dated as of January 31, 2021, among Borrower and
the Lender.”; and

 

ii) “Twelfth
Amendment Effective Date” shall have the meaning specified therefor in Section 3 of the Twelfth Amendment.”.

 

2. Representations and Warranties. Borrower hereby
represents and warrants to Lender as follows:

 

a) Representations
and Warranties; No Event of Default. The representations and warranties herein, in Article 3 of the Loan Agreement and in each
other Loan Document, certificate or other writing delivered by or on behalf of Borrower to the Lender pursuant to this Amendment,
the Loan Agreement or any other Loan Document on or prior to the Twelfth Amendment Effective Date (as defined below) are true and
correct in all material respects (except that such materiality qualifier shall not be applied to any representations or warranties
that already are qualified or modified as to “materiality” or “Material Adverse Effect” in the text thereof,
which representations and warranties shall be true and correct in all respects subject to such qualification) on and as of the
Twelfth Amendment Effective Date as though made on and as of such date (unless such representations or warranties (after taking
into account this Amendment) are stated to relate to an earlier date, in which case such representations and warranties shall be
true and correct on and as of such earlier date in all material respects (except that such materiality qualifier shall not be applicable
to any representations or warranties that already are qualified or modified as to “materiality” or “Material
Adverse Effect” in the text thereof, which representations and warranties shall be true and correct in all respects subject
to such qualification), and no Default or Event of Default has occurred and is continuing as of the Twelfth Amendment Effective
Date or would result from this Amendment becoming effective in accordance with its terms.

 

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b) Authorization,
Etc. The execution, delivery and performance by Borrower of this Amendment and the other Loan Documents being executed concurrently
herewith, and the performance of the Loan Agreement, as amended hereby, and the other Loan Documents, (i) have been duly authorized
by all necessary action, (ii) do not and will not contravene any of the governing documents of any Borrower or any applicable Requirement
of Law, (iii) do not and will not contravene any Contractual Obligation binding on or otherwise affecting any Borrower or any of
its properties (except for those the conflict with which could not reasonably be expected to result in a Material Adverse Effect),
(iv) do not and will not result in or require the creation of any Lien (other than pursuant to any Loan Document) upon or with
respect to any properties of any Borrower, and (v) do not and will not result in any default, noncompliance, suspension, revocation,
impairment, forfeiture or non-renewal of any permit, license, authorization or approval applicable to its operations or any of
its properties, except in each case to the extent that such default, noncompliance, contravention, suspension, revocation, impairment,
forfeiture or non-renewal could not reasonably be expected to result in a Material Adverse Effect.

 

c) Enforceability
of Loan Documents. This Amendment, the Loan Agreement as amended by this Amendment, and each other Loan Document to which any
Borrower is or will be a party, when delivered hereunder, will be, a legal, valid and binding obligation of such Person, enforceable
against such Person in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws and by general principles of equity .

 

3. Conditions
to Effectiveness. This Amendment shall become effective only upon satisfaction in full, in a manner reasonably satisfactory
to the Lender and its counsel, of the following conditions precedent (the first date upon which all such conditions shall have
been satisfied (or waived) being herein called the “Twelfth Amendment Effective Date”):

 

a) Representations
and Warranties. The representations and warranties contained in this Amendment and in Article 3 of the Loan Agreement and in
each other Loan Document, certificate or other document delivered to Lender pursuant to this Amendment, the Loan Agreement or any
other Loan Document on or prior to the Twelfth Amendment Effective Date are true and correct in all material respects (except that
such materiality qualifier shall not be applied to any representations or warranties that already are qualified or modified as
to “materiality” or “Material Adverse Effect” in the text thereof (which representations and warranties
shall be true and correct in all respects subject to such qualification), on and as of the Twelfth Amendment Effective Date as
though made on and as of such date, except to the extent that any such representation or warranty (after taking into account this
Amendment) expressly relates solely to an earlier date (in which case such representation or warranty shall be true and correct
on and as of such earlier date in all material respects (except that such materiality qualifier shall not be applicable to any
representations or warranties that already are qualified or modified as to “materiality” or “Material Adverse
Effect” in the text thereof, which representations and warranties shall be true and correct in all respects subject to such
qualification) on and as of such earlier date).

 

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b) No
Default; Event of Default. No Default or Event of Default shall have occurred and be continuing on the Twelfth Amendment Effective
Date or result from this Amendment becoming effective in accordance with its terms.

 

c) Delivery
of Documents. The Lender shall have received on or before the Twelfth Amendment Effective Date the following, each in form
and substance reasonably satisfactory to the Lender and, unless indicated otherwise, dated the Twelfth Amendment Effective Date:

 

i) this
Amendment, duly executed by each Borrower; and

 

ii) a
certificate of an authorized officer of each Borrower, certifying as to the matters set forth in subsections (a) and (b) of this
Section 3.

 

4. Continued
Effectiveness of the Loan Agreement and Other Loan Documents. Each Borrower hereby (i) confirms and agrees that the Loan Agreement
and each other Loan Document to which it is a party is, and shall continue to be, in full force and effect and is hereby ratified
and confirmed in all respects except that on and after the Twelfth Amendment Effective Date all references in any such Loan Document
to “the Loan Agreement,” the “Agreement,” “thereto,” “thereof,” “thereunder”
or words of like import referring to the Loan Agreement shall mean the Loan Agreement as amended by this Amendment, and (ii) confirms
and agrees that to the extent that any Loan Document purports to assign or pledge to the Lender, or to grant to the Lender a security
interest in or Lien on, any Collateral as security for the Obligations of any Borrower from time to time existing in respect of
the Loan Agreement (as amended hereby) and the other Loan Documents, such pledge, assignment and/or grant of the security interest
or Lien is hereby ratified and confirmed in all respects. This Amendment does not and shall not affect any of the obligations of
any Borrower, other than as expressly provided herein, including, without limitation, the Borrower’s obligations to repay
the Loans in accordance with the terms of the Loan Agreement, or the obligations of any Borrower under any Loan Document to which
it is a party, all of which obligations shall remain in full force and effect. Except as expressly provided herein, the execution,
delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Lender under the
Loan Agreement or any other Loan Document, nor constitute a waiver of any provision of the Loan Agreement or any other Loan Document.

 

5. Release.
(a) Each Borrower hereby acknowledges and agrees that: (i) no Borrower has any claim or cause of action against the Lender (or
any of its Affiliates or its or their officers, directors, employees, managers, members, partner, shareholders, attorneys or consultants)
in connection with the Loan Documents and (ii) the Lender has heretofore properly performed and satisfied in a timely manner all
of its obligations to Borrower under the Loan Agreement and the other Loan Documents that are required to have been performed on
or prior to the date hereof. Notwithstanding the foregoing, the Lender wishes (and Borrower agrees) to eliminate any possibility
that any past conditions, acts, omissions, events or circumstances would impair or otherwise adversely affect any of the Lender’s
rights, interests, security and/or remedies under the Loan Agreement and the other Loan Documents. Accordingly, for and in consideration
of the agreements contained in this Amendment and other good and valuable consideration, each Borrower (for itself and each other
Borrower and the successors, assigns, heirs and representatives of each of the foregoing) (collectively, the “Releasors”)
does hereby fully, finally, unconditionally and irrevocably release and forever discharge Lender and each of its Affiliates and
its and their managers, members, partners, officers, directors, employees, shareholders attorneys and consultants in their capacities
as or for the Lender (collectively, the “Released Parties”) from any and all debts, claims, obligations, damages,
costs, attorneys’ fees, suits, demands, liabilities, actions, proceedings and causes of action, in each case, whether known
or unknown, contingent or fixed, direct or indirect, and of whatever nature or description, and whether in law or in equity, under
contract, tort, statute or otherwise, which any Releasor has heretofore had or now or hereafter can, shall or may have against
any Released Party by reason of any act, omission or thing whatsoever done or omitted to be done directly arising out of, connected
with or related to this Amendment, the Loan Agreement or any other Loan Document, or any act, event or transaction related or attendant
thereto, or the agreements of the Lender contained therein, or the possession, use, operation or control of any of the assets of
any Borrower, or the making of any Loans or other Advances, or the management of such Loans or Advances or the Collateral, in each
case, solely to the extent arising from any act, omission or thing whatsoever done or omitted to be done on or prior to the Twelfth
Amendment Effective Date.

 

    3

     

    

 

6. Miscellaneous.

 

a) Borrower
will pay on demand all reasonable and documented out-of-pocket fees, costs and expenses of the Lender in connection with the structuring,
preparation, negotiation, execution and delivery of this Amendment and the transactions and all documents contemplated herein and
therein, and related transactions, and all documents with respect thereto.

 

b) Section
and paragraph headings herein are included for convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

 

c) Borrower
hereby acknowledges and agrees that this Amendment constitutes a “Loan Document” under the Loan Agreement. Accordingly,
it shall be an Event of Default under the Loan Agreement if (i) any representation or warranty made by a Borrower under or in connection
with this Amendment shall have been incorrect in any material respect when made, or (ii) any Borrower shall fail to perform or
observe any term, covenant or agreement contained in this Amendment.

 

d) All
representations, warranties, acknowledgements, agreements and other covenants of the Borrowers in this Amendment are made on a
joint and several basis and are made by each Borrower with respect to itself and all other Borrowers.

 

e) Any
provision of this Amendment that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining portions hereof or affecting the validity
or enforceability of such provision in any other jurisdiction.

 

f) In
the case of any conflict between the terms of this Amendment and any Loan Document (including any promissory notes and allonges),
the terms of this Amendment shall control.

 

7. Covenant
by Borrower. Borrower covenants and agrees that at any time upon the request of Lender, Borrower will cause Creative Realities
Canada, Inc., a Canadian company and subsidiary of CRI to become a party to the Agreement.

 

8. Counterparts.
This Amendment may be entered into in any number of separate counterparts by any one or more of the parties hereto, and all of
said counterparts taken together shall constitute one and the same instrument. Valid and binding signatures to this Amendment may
be delivered in original ink, by facsimile or by email or other means of electronic transmission.

 

9. Governing
Law. This Amendment and the obligations arising hereunder shall be governed by, and construed and enforced in accordance with,
the laws of the State of New York applicable to contracts made and performed in such state, without regard to the principles thereof
regarding conflicts of laws.

 

    4

     

    

 

10. Submission To
Jurisdiction; Waiver Of Jury Trial.

 

a)  BORROWER
HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN NEW YORK CITY, NEW YORK, SHALL HAVE EXCLUSIVE JURISDICTION
TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN BORROWER AND THE LENDER PERTAINING TO THIS AMENDMENT OR ANY OF THE OTHER LOAN
DOCUMENTS OR TO ANY MATTER ARISING OUT OF OR RELATED TO THIS AMENDMENT OR ANY OF THE OTHER LOAN DOCUMENTS; PROVIDED, HOWEVER, THAT
NOTHING IN THIS AMENDMENT OR ANY OTHER LOAN DOCUMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE THE LENDER FROM BRINGING SUIT OR TAKING
OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO COLLECT THE OBLIGATIONS, TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR
THE OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF THE LENDER. BORROWER EXPRESSLY SUBMITS AND CONSENTS
IN ADVANCE TO SUCH JURISDICTION IN ANYACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND BORROWER HEREBY WAIVES ANY OBJECTION THAT
IT MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS.

 

b) THE
PARTIES HERETO WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER ARISING
IN CONTRACT, TORT, OR OTHERWISE BETWEEN LENDER AND BORROWER ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THE RELATIONSHIP
ESTABLISHED BETWEEN THEM IN CONNECTION WITH THIS AMENDMENT, THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS RELATED HERETO OR THERETO.

 

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blank

 

    5

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be executed and delivered as of the date set forth on the first page hereof.

 

	BORROWER:	 	LENDER:
	 	 	 
	CREATIVE
        REALITIES, INC. 

         
	 	SLIPSTREAM COMMUNICATIONS, LLC
	CREATIVE REALITIES, LLC 	 	 	 
	CONEXUS WORLD GLOBAL, LLC	 	By:	/s/ Brian Friedman
	ALLURE GLOBAL SOLUTIONS, INC.	 	Name:	BRIAN FRIEDMAN
			 	Title:	General
        Counsel & Secretary

        

	By:	/s/ Richard Mills	 	 	 
	Name: 	RICHARD C. MILLS

        
	 	Address for Notice:
	Title:	Chief Executive Officer  	 	750 E. Main St., Suite 600 
	 	 	 	Stamford, CT 06902 Attn: Mr. Brian
    Friedman 
	Address for Notice (for all Borrowers):
    Creative Realities, Inc.	 	 
	Attention: Chief Financial Officer	 	 
	13100 Magisterial Drive, Ste 100	 	 	 
	Louisville, KY 40223	 	 	 

  

Signature Page to Twelfth Amendment to
Loan and Security Agreement

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