Document:

exv10w14

Exhibit 10.14

AMENDED AND RESTATED SUBORDINATION AND STANDBY AGREEMENT

     Reference is hereby made to that certain Subordination and Standby Agreement dated September
11, 2009, executed by and between the undersigned Lender, the undersigned Borrower and the
undersigned Subordinated Creditor (the “Original Agreement”). In connection with certain
agreements by and between the undersigned Lender, the undersigned Borrower and the undersigned
Subordinated Creditor, such parties now desire to amend and restate the Original Agreement in its
entirety. Accordingly, the Original Agreement is hereby amended and restated in its entirety to
hereafter be and read as follows, and this Amended and Restated Subordination and Standby Agreement
is given in replacement and substitution for the Original Agreement:

     To induce Compass Bank, an Alabama state chartered bank, 5800 North Mopac, Austin, Texas 78731
(“Lender”) to make and in consideration of the making by Lender of all, or any part, of that one
(1) certain loan evidenced by a promissory note dated August 10, 2009 in the original principal sum
of $9,000,000.00 (the “Note”) executed by Rules-Based Medicine, Inc., a Delaware corporation, 3300
Duval Road, Austin, Texas 78759 (“Borrower”) secured by among other items, a Commercial Security
Agreement dated August 10, 2009, executed by Borrower, covering personal property more particularly
described in Exhibit “A-1” attached hereto and made a part hereof and any and all amendments,
renewals and extensions thereof (“Loan”), Borrower and Heartland Community Bank, an Arkansas state
bank, 4937 Highway 5 North, Bryant, Arkansas 72022 (“Subordinated Creditor”) and each endorser,
grantor and surety with respect to the Claim, (as “Claim” is hereafter defined), (“Secondary
Obligors”), in consideration of Lender’s consent to the Claim, do hereby severally represent,
warrant and covenant to and with each other, and to and with the Lender, its successors and
assigns, as follows:

	 	1.	 	There is owing by Borrower to Subordinated Creditor the amount of $5,000,000.00
as evidenced by a promissory note dated September 11, 2009 executed by Borrower payable
to the order of Subordinated Creditor, in the original principal sum of $5,000,000.00
plus accrued interest as set forth therein (which amounts and all interest, if any, now
or hereafter owing thereon, are in this Subordination Agreement collectively called
“Claim”). The Claim is secured by a security interest created and granted in that
certain Stock Pledge and Security Agreement dated September 11, 2009 executed by RBM
Holdings, LLC and RBM Management Group, LLC, collectively as Pledgors and Subordinated
Creditor as “Lender” covering certain personal property more particularly described in
Exhibit “A-2” attached hereto and made a part hereof (the “Pledge Agreement”).
	 
	 	2.	 	Subordinated Creditor does hereby subordinate the Claim and all other
indebtedness now or at any time or times hereafter owing by Borrower to Subordinated
Creditor and the Secondary Obligors to the Loan and any and all debts, demands, claims,
liabilities or causes of action for which Borrower may now or at any time or times
hereafter in any way be liable to Lender under any agreement, instrument, documents or
pursuant to any undertaking now or at any time or times hereafter executed and
delivered or made by Borrower to Lender.

 

	 	3.	 	Subordinated Creditor agrees and does hereby subordinate all liens, security
interests, encumbrances, and claims which in any way secure the payment of the Claim to
all liens, security interests, encumbrances and claims which in any way secure payment
of the Loan.
	 
	 	4.	 	Lender acknowledges and agrees that Claim (and related Pledge Agreement) is a
permitted Subordinated Liability, as that term is defined in Section 5(ar)(ii)(e) of
the Commercial Loan Agreement executed in connection with the Loan.
	 
	 	5.	 	Without the prior written consent of Lender, Subordinated Creditor and the
Secondary Obligors will take no action (a) to assert, collect, or enforce all, or any
part of, the Claim, or (b) to assert, enforce, or exercise any liens, security
interests, encumbrances or claims securing the Claim or to realize upon any collateral
given as security for the Claim; provided, however, that
notwithstanding the foregoing, (a) Subordinated Creditor shall be entitled to exercise
its rights to foreclose Subordinated Creditor’s security interest under the Pledge
Agreement in and to all or any of the collateral described in Exhibit “A-2” attached
hereto (or accept a conveyance thereof in lieu of foreclosure) by giving ten (10) days’
prior written notice thereof to Lender, and (b) Borrower and Subordinated Creditor
hereby acknowledge and agree that the occurrence of any such foreclosure (or conveyance
in lieu of foreclosure) shall automatically constitute an additional Event of Default
(as defined in the Commercial Loan Agreement executed between Borrower and Lender in
connection with the Loan, as the same may hereafter be amended, modified, replaced
and/or restated in connection with any amendments, renewals and/or extensions of the
Loan) without further notice to Borrower, Subordinated Creditor, any Secondary Obligor
or any other party. Without giving ten (10) days’ prior written notice to Subordinated
Creditor, Lender will take no action to assert, collect or enforce all, or any part of,
the Loan as a result of the occurrence of any default or event of default under or in
connection with the Loan.
	 
	 	6.	 	Other than regularly scheduled payments of accrued interest on the Claim as
currently set forth in the Claim, Subordinated Creditor and the Secondary Obligors will
promptly pay to the holder of the Note evidencing the Loan all amounts which may be
received by them or any of them on account of the Claim, except for the $550,000
interest reserve account established with Subordinated Creditor pursuant to the Claim
at the origination thereof, with Subordinated Creditor and Borrower agreeing with
Lender that (a) no additional amounts shall be permitted to be deposited into such
interest reserve account (other than the initial $550,000 amount previously deposited)
and (b) upon the occurrence of any Event of Default (as defined in the Loan and
Security Agreement executed between Borrower and Subordinated Creditor in connection
with the Claim) which remains uncured after any applicable curative period afforded
Borrower under the terms of such Loan and Security Agreement, Subordinated Creditor
shall then apply all amounts then remaining available in such interest reserve account
against the principal balance of the Claim.

2

 

	 	7.	 	Other than regularly scheduled payments of accrued interest on the Claim as
currently set forth in the Claim, Borrower will not pay the amount of, or any amount on
account of, the Claim to Subordinated Creditor or the Secondary Obligors, or any of
them, without the prior written consent of Lender, provided, that the interest reserve
account established with Subordinated Creditor pursuant to the Claim shall not
constitute a violation of this Subordination and Standby Agreement.
	 
	 	8.	 	Borrower and Subordinated Creditor will not modify or amend, nor give any
additional collateral not otherwise identified herein as security for, the Claim to
Subordinated Creditor, or the Secondary Obligors, or any of them, without the prior
written consent of Lender.
	 
	 	9.	 	This Subordination and Standby Agreement and all obligations hereunder or with
respect hereto of Borrower, Lender, Subordinated Creditor and the Secondary Obligors
shall continue in full force and effect until the payment in full of the Loan,
notwithstanding any action which Lender, or Borrower, or others, with the consent of
Lender, may take or refrain from taking with respect to such Loan, or the Note, or any
collateral or subcollateral therefor, or any agreements (including guarantees) executed
in connection therewith, or any collateral given to secure the performance of any such
agreement or agreements. Subordinated Creditor on behalf of itself hereby grants to
Lender full power, in its uncontrolled discretion and without notice to Subordinated
Creditor or Secondary Obligors, to deal in any manner with the Loan and the collateral
therefor, including, but without limiting the generality of the foregoing, the
following powers:

	 	(a)	 	To modify or otherwise change any terms of all or any part of
the Loan or the rate of interest thereon (including, but not limited to, an
increase in the principal amount of the Note), to grant any extension or
renewal thereof, and other indulgences with respect thereto, and to effect any
release, compromise or settlement with respect thereto.
	 
	 	(b)	 	To enter in to any agreement of forbearance with respect to all
or any part of the Loan or with respect to all or any part of the collateral
securing the Loan, and to change the terms of any such agreement.
	 
	 	(c)	 	To forbear from calling for additional collateral to secure the
Loan or to secure any obligation comprised in the collateral securing the Loan.
	 
	 	(d)	 	To consent to the substitution, exchange, or release of all or
any part of the collateral securing the Loan, whether or not the collateral, if
any, received by Lender upon such substitution, exchange or release shall be of
the same or of a different character or value than the collateral surrendered
by Lender.
	 
	 	(e)	 	To forbear from realizing on any or all of the collateral
securing the Loan as in its uncontrolled discretion Lender may deem proper.

3

 

	 	 	 	The obligations of Subordinated Creditor and the Secondary Obligors hereunder shall
not be released, discharged, or in any way effected, nor shall Subordinated Creditor
or the Secondary Obligors have any rights or recourse against Lender by reason of
any action Lender may take or omit to take under the foregoing powers.
	 
	 	10.	 	The Claims and the liens, security interests, encumbrances and claims which in
any way secure payment of the Claim, or any interest therein, has not been assigned or
transferred to any person, firm, association, corporation, or party, and Subordinated
Creditor agrees to make no such assignment or transfer thereof; provided that
Subordinate Lender may participate out the Claim and provided further that Subordinated
Creditor will be permitted to assign or transfer the Claim if the assignee or
transferee thereof as a condition to any such transfer or assignment executes a
counterpart signature page to this Agreement pursuant to which such assignee or
transferee shall confirm their agreement to be subject to and bound by all of the
provisions set forth in this Agreement applicable to the Subordinated Creditor.
	 
	 	11.	 	The failure of any party, whether or not named or otherwise referred to as a
party hereto, to sign or become obligated under this Subordination and Standby
Agreement shall not effect the release or the liability of any party who is a signatory
hereto.
	 
	 	12.	 	This Subordination and Standby Agreement shall be continuing, irrevocable, and
binding on the parties hereto and their respective heirs, personal representatives,
successors and assigns and it shall inure to the benefit of Lender and its successors
and assigns.
	 
	 	13.	 	Upon payment in full of the Loan, this Subordination and Standby Agreement
shall automatically terminate.

THIS WRITTEN SUBORDINATION AND STANDBY AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES
AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF
THE PARTIES.

THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

4

 

     This
Subordination and Standby Agreement is executed on 18th day of
December, 2009.

	 	 	 	 	 
	 	LENDER:

COMPASS BANK, an Alabama banking corporation

 	 
	 	By:  	/s/
Todd Jordan 	 
	 	Name:  	Todd
Jordan 	 
	 	Title:  	Senior
Vice President 	 
	 

	 	 	 	 	 
	 	BORROWER:

RULES-BASED MEDICINE, INC.,

a Delaware corporation

 	 
	 	By:  	/s/
Patrick McClain 	 
	 	Name:  	Patrick
S. McClain 	 
	 	Title:  	VP
& CFO	 
	 

	 	 	 	 	 
	 	SUBORDINATED CREDITOR:

HEARTLAND COMMUNITY BANK,

 an Arkansas state bank

 	 
	 	By:  	/s/
Mark Hoffpauir 	 
	 	Name:  	Mark
Hoffpauir 	 
	 	Title:  	SVP 	 
	 

5

 

ACKNOWLEDGMENTS

	 	 	 
	STATE OF TEXAS

	 	§
	 

	 	§
	COUNTY
OF TRAVIS

	 	§

     This
instrument was acknowledged before me on the  18th
day of December, 2009, by
Todd Jordan,
SVP, of Compass Bank, an Alabama state chartered
bank, on behalf of said bank.

	 	 	 
	 
	 	/s/
Suann Wall
	 

	 	 
	 

	 	Notary Public in and for the State of Texas

	 	 	 
	STATE OF TEXAS

	 	§
	 

	 	§
	COUNTY OF TRAVIS

	 	§

     This
instrument was acknowledged before me on the 8th

day of December, 2009 by
Patrick S. McClain,
VP and CFO, of Rules-Based Medicine, Inc., a Delaware corporation , on
behalf of said corporation.

	 	 	 
	 
	 	/s/ [illegible]
	 

	 	 
	 

	 	Notary Public in and for the State of Texas

	 	 	 
	STATE OF ARKANSAS

	 	§
	 

	 	§
	COUNTY OF SALINI

	 	§

     This
instrument was acknowledged before me on the
3rd
day of December, 2009 by Mark Hoffpiaur,
SVP, of Heartland Community Bank, an Arkansas state bank, on
behalf of said bank.

	 	 	 
	 
	 	Jennifer Rupe, Arkansas
	 

	 	 
	 

	 	Notary Public in and for the State of Arkansas

6

 

EXHIBIT “A-1”

     All of the Borrower’s accounts receivable, inventory, equipment and related general
intangibles, now owned or hereafter, acquired, including all monies, instruments and savings,
checking or other deposit accounts within Lender’s custody or control (excluding IRA, Keogh, trust
accounts, and deposits subject to tax penalties if so assigned); all accessions, accessories,
additions, amendments, attachments, modifications, replacements and substitutions to any of the
above; all proceeds and products of any of the above; all policies of insurance pertaining to any
of the above as well as any proceeds and unearned premiums pertaining to such policies; and all
books and records pertaining to any of the above.

7

 

EXHIBIT “A-2”

     All capital stock in RBM Acquisition, Inc. now or hereafter owned by RBM Holdings, LLC or RBM
Management Group, LLC, including without limitation, (a) 3,594,990 shares of capital stock in RBM
Acquisition, Inc. evidenced by Certificate No. C1 issued in the name of RBM Holdings, LLC, and (b)
4,514,010 shares of capital stock in RBM Acquisition, Inc. evidenced by Certificate No. C2 issued
in the name of RBM Management Group, LLC, together with (i) accruals to any of the foregoing such
as natural increases, stock, cash, property or other dividends, interest, conversion rights and
similar accruals relating to any of the foregoing, and (ii) all property rights received,
receivable, derived from, or accruing to the foregoing and proceeds thereof.

8exv10w15

Exhibit 10.15

THIS WARRANT HAS BEEN ACQUIRED BY THE HOLDER SOLELY FOR ITS OWN ACCOUNT FOR THE PURPOSE OF
INVESTMENT AND NOT WITH A VIEW TO OR FOR SALE IN CONNECTION WITH ANY DISTRIBUTION THEREOF IN
VIOLATION OF THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND APPLICABLE
STATE SECURITIES LAWS. THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY STATE
SECURITIES LAWS AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT REGISTRATION UNDER
THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION THEREFROM.

WARRANT TO PURCHASE SHARES OF COMMON STOCK

OF

RULES-BASED MEDICINE, INC.

Void At and After 5:00 P.M.,

Austin, Texas time, on September 1, 2014

Warrant No. W-1

          This certifies that, for value received, Rock Bancshares, Inc., the registered holder hereof
or registered assigns (the “Holder”), is entitled to purchase, subject to the terms and
conditions contained in this Warrant, from Rules-Based Medicine, Inc., a Delaware corporation (the
“Company”), at any time and from time to time, in whole or in part, on or after the date of
this Warrant and prior to the Expiration Date (as defined in Section 1.4 hereof), an
aggregate of 100,000 shares of Common Stock, par value $0.001 per share, of the Company (the
“Common Stock”), at an exercise price equal to $9.00 per share (the “Warrant
Price”). The number of shares of Common Stock purchasable upon the exercise of this Warrant
and the Warrant Price per share are subject to adjustment from time to time as hereinafter set
forth.

1. EXERCISE OF WARRANT; EXPIRATION DATE.

1.1. Exercise of Warrant.

          Subject to the terms and conditions contained in this Warrant, the Holder hereof shall have
the right, at any time and from time to time, in whole or in part, on or after the date of this
Warrant and prior to the Expiration Date, to purchase from the Company that number of fully paid
and nonassessable shares of Common Stock which the Holder hereof shall at the time be entitled to
purchase pursuant to this Warrant (the “Shares”), upon surrender of this Warrant to the
Company at its Principal Office (as defined in Section 5 hereof), together with the
Purchase Form annexed hereto duly completed and signed by the Holder or by its duly authorized
officer or attorney, and upon payment to the Company of the aggregate Warrant Price (as adjusted,
if adjusted, pursuant to Section 7 hereof) for the number of Shares in respect of which
this Warrant

 

 

is then exercised. Payment of the Warrant Price shall be made in the form of a certified or
official bank check payable to the order of the Company.

          Notwithstanding the foregoing, if this Warrant is being exercised in connection with a
registered public offering of the Company’s securities or a sale of the Company, then the Holder
may, at its option, condition its exercise of this Warrant upon the consummation of such
transaction, in which case such exercise shall not be deemed effective until the consummation of
such transaction.

          The rights of purchase represented by this Warrant shall be exercisable, at the election of
the Holder, either in whole or from time to time in part and, in the event that this Warrant is
exercised in respect of less than all of the Shares purchasable upon exercise of this Warrant at
any time prior to the Expiration Date, a new Warrant of like tenor and representing the right to
purchase the remaining Shares purchasable upon exercise of this Warrant shall be issued to the
Holder.

          In addition to the method of payment set forth in this Section 1.1 and in lieu of any
cash payment required in this Section 1.1, the Holder shall have the right at any time and
from time to time to exercise this Warrant in full or in part by surrendering this Warrant in the
manner specified above in exchange for the number of shares of Common Stock equal to the product of
(x) the number of shares to which this Warrant is being exercised multiplied by (y) a fraction, the
numerator of which is the Market Price (as herein defined) of the shares of Common Stock less the
Warrant Price (as herein defined) and the denominator of which is such Market Price, provided
however, the right described in this paragraph will apply only in the event the Common Stock is
publicly traded at the time of such exercise or if such exercise is in connection with a Qualified
Transaction (as defined below).

          For purposes of the foregoing, the term “Market Price” of a share of Common Stock shall mean:

	 	(a)	 	In the event the Common Stock is publicly traded, the average
of the last reported sale price as published in the Wall Street Journal or, if
not available, another recognized financial reporting service selected by the
Company, for the ten (10) trading days prior to the date of determination of
Market Price; or
	 
	 	(b)	 	In the event of an exercise in connection with (i) any
consolidation of the Company with or merger of the Company into another person,
or any merger of another person into the Company (other than a merger which
does not result in any reclassification, conversion, exchange or cancellation
of outstanding shares of Common Stock of the Company), or (ii) any sale, lease,
license, transfer or other disposition to another person of all or
substantially all of the assets of the Company, or (iii) any liquidation,
reorganization, or dissolution of the Company or (iv) any other event or
transaction having substantially the same effect as any of the foregoing in
which the consideration to be received in any transaction described in (i),
(ii), (iii) or (iv)

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	 	 	 	by the holders of Common Stock of the Company consists entirely of cash and/or
publicly traded securities (a “Qualified Transaction”), the Market Price shall
be the value received per share of Common Stock by all holders of Common Stock
in such Qualified Transaction, with any publicly traded securities being valued
using the valuation methodology applied to such shares under the terms of the
Qualified Transaction or, if none, using the average of the last reported sale
price as published in the Wall Street Journal or, if not available, another
recognized financial reporting service selected by the Company, for the ten (10)
trading days prior to the date of determination of Market Price.

1.2. Issuance of Shares.

          Upon surrender of this Warrant and payment of the Warrant Price as aforesaid, the Company
shall issue and cause to be delivered with all reasonable dispatch to and in the name of the Holder
hereof a certificate or certificates for the number of full Shares so purchased upon the exercise
of this Warrant. Such certificate or certificates shall be deemed to have been issued, and the
Holder shall be deemed to have become the holder of record of such Shares, as of the close of
business on the date of surrender of this Warrant and payment of such Warrant Price, as aforesaid,
regardless of whether, at such date, the transfer books for the Common Stock or other securities
purchasable upon the exercise of this Warrant may be closed for any purpose. The date and time at
which the Holder hereof shall be deemed to have become a holder of record of such Shares is herein
called the “Exercise Date.”

          Reference is made to a certain Investors Rights Agreement (the “Investors Rights Agreement”)
by and among the Company, each of the investors named in the Investors Rights Agreement (each an
“Investor” and together the “Investors”), RBM Holdings, LLC, a Delaware limited liability company
(“RBM Holdings”) and RBM Management Group, LLC, a Delaware limited liability company (“RBM
Management”) dated October 12, 2007. The Holder agrees that, upon the exercise of all or any part
of this Warrant, as a condition to any issuance of shares of Common Stock of the Company, the
Holder shall deliver to the Company and the Investors, a counterpart signature page to the
Investors Rights Agreement pursuant to which such Holder shall confirm its agreement as a Common
Holder to be subject to and bound by all of the provisions set forth in the Investors Rights
Agreement.

1.3. No Fractional Shares.

          The Company shall not be required to issue fractional Shares upon the exercise of this
Warrant. Rather, the number of Shares issuable upon the exercise of this Warrant shall be rounded
up to the next whole Share.

-3-

 

1.4. Expiration Date.

          This Warrant and the rights of purchase represented hereby shall terminate and be void and of
no further force and effect at 5:00 P.M., Austin, Texas time, on September 1, 2014 (such time on
such date being the “Expiration Date”).

1.5. Investment Representations.

          The Holder is an “accredited investor” as defined in Regulation D under the Securities Act.
The Holder has acquired this Warrant, and will acquire any Shares issued upon exercise of this
Warrant, for its own account and not with a view to the distribution thereof in violation of the
Securities Act or applicable state securities laws. The Holder understands that this Warrant and
the Shares have not been registered under the Securities Act or any state securities laws and may
not be sold, pledged or otherwise transferred without registration under the Securities Act and
applicable state securities laws or an exemption therefrom. The Holder acknowledges that the
certificates representing the Shares will bear a legend substantially to the effect of the legend
set forth on the first page of this Warrant.

2. TRANSFER OR EXCHANGE OF WARRANT.

2.1. Transfer.

          The Holder may not sell, assign, pledge or otherwise transfer this Warrant or any interest
herein to any person that is not an affiliate (as defined under the Securities Exchange Act of
1934, as amended) of the Holder, without the prior written consent of the Company in its discretion
provided, however, that the Company shall not unreasonably withhold, delay or condition such
consent. Subject to any such required consent, this Warrant shall be transferable upon surrender
of this Warrant to the Company at its Principal Office, together with the Assignment Form annexed
hereto duly completed and signed by the Holder or by its duly authorized officer or attorney. In
case of transfer by an attorney, the original power of attorney, duly approved, or an official copy
thereof, duly certified, shall be delivered to the Company. Upon any registration of transfer, the
Company shall execute and deliver to the person entitled thereto a new Warrant of like tenor and
representing the right to purchase the same number of Shares as this Warrant then entitles the
Holder hereof to purchase. By acceptance thereof, such person shall be deemed to have made the
investment representations set forth in Section 1.5.

2.2. Exchange.

          This Warrant may be exchanged for another Warrant, or other Warrants of different
denominations, of like tenor and representing in the aggregate the right to purchase the same
number of Shares as this Warrant then entitles the Holder hereof to purchase. Any request to
exchange this Warrant shall be made by the Holder in writing delivered to the Company at its
Principal Office, specifying the denominations in which such new Warrant or Warrants are to be
issued, accompanied by this Warrant. Promptly upon the Company’s receipt of such notice, the

-4-

 

Company shall execute and deliver to the Holder a new Warrant or Warrants, as so requested.
The term “Warrant” as used herein includes any Warrant or Warrants into which this Warrant may be
exchanged as aforesaid.

3. PAYMENT OF TAXES.

          The Company shall pay or cause to be paid all documentary stamp taxes, if any, attributable to
the initial issuance of this Warrant and Shares issuable upon the exercise of this Warrant;
provided, however, that the Company shall not be required to pay, and the Holder
shall pay, any tax or taxes that may be payable in respect of any transfer involved in the issue or
delivery of any Warrant or certificates for Shares in a name other than that of the Holder of this
Warrant.

4. MUTILATED OR MISSING WARRANT.

          Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant, and (in the case of mutilation) upon surrender of this
Warrant, and upon cancellation of this Warrant, the Company shall execute and deliver to the Holder
a new Warrant of like tenor and representing the right to purchase the same number of Shares as
this Warrant then entitles the Holder hereof to purchase.

5. PRINCIPAL OFFICE; WARRANT REGISTER.

          The principal office of the Company (the “Principal Office”) at the date of this
Warrant is located at 3300 Duval Road, Austin, Texas 78759, telecopy: (512) 835-4687. The Company
may from time to time change its Principal Office by notice in writing to the Holder. The Company
shall maintain at its Principal Office a register (the “Warrant Register”) for registration
of Warrants and transfers and exchanges of Warrants. The Company shall be entitled to treat the
registered Holder of this Warrant as the owner in fact hereof for all purposes and shall not be
bound to recognize any equitable or other claim to or interest in this Warrant on the part of any
other person. The Company shall cancel any Warrant surrendered for transfer, exchange or exercise.

6. RESERVATION OF SHARES.

          There have been reserved, and the Company shall at all times until the Expiration Date keep
reserved, out of its authorized Common Stock, a number of shares of Common Stock sufficient to
provide for the exercise of the rights of purchase represented by this Warrant. The Company
covenants that all Shares which may be issued upon the exercise of this Warrant shall, upon issue,
be duly authorized, validly issued, fully paid, nonassessable, free of preemptive rights and free
from all liens, charges and security interests with respect to the issue thereof.

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7. ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES.

          The number and kind of securities purchasable upon the exercise of this Warrant and the
Warrant Price per Share shall be subject to adjustment from time to time upon the happening of
certain events, as follows:

7.1. Adjustments.

          (a) In case the Company shall at any time after the date of this Warrant (i) make any
distribution to all holders of its outstanding shares of Common Stock in shares of Common Stock
such that the number of shares of Common Stock outstanding is increased, (ii) subdivide or split-up
its outstanding shares of Common Stock into a greater number of shares of Common Stock, (iii)
combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock or
(iv) issue by reclassification of its shares of Common Stock other securities of the Company, then
the number of Shares purchasable upon exercise of this Warrant immediately prior thereto shall be
adjusted so that the Holder hereof shall be entitled to purchase the kind and number of Shares or
other securities of the Company that the Holder would have owned or would have been entitled to
receive after the happening of any of the events described above had this Warrant been exercised
immediately prior to the happening of such event or any record date with respect thereto. An
adjustment made pursuant to this subsection (a) shall become effective immediately after
the effective date of such event.

          (b) Whenever the number of Shares purchasable upon the exercise of this Warrant is adjusted as
herein provided, the Warrant Price per Share payable upon exercise of this Warrant shall be
adjusted (calculated to the nearest $.0001) by multiplying such Warrant Price immediately prior to
such adjustment by a fraction, the numerator of which is the number of Shares purchasable upon the
exercise of this Warrant immediately prior to such adjustment, and the denominator of which is the
number of Shares so purchasable immediately after such adjustment.

          (c) If, at any time while this Warrant remains outstanding, the holders of shares of the
Common Stock receive or, on or after the record date fixed for the determination of eligible
stockholders, become entitled to receive, without payment, securities or property (other than cash
or Common Stock) of the Company by way of dividend or other distribution in respect of the Common
Stock, then in each such case, this Warrant shall entitle the Holder to acquire, in addition to the
shares of Common Stock receivable upon an exercise of this Warrant and payment of the Warrant
Price, the amount of such securities or property (other than cash or Common Stock) of the Company,
without payment of additional consideration, that the Holder would have been entitled to receive
had the Effective Date of such exercise of the Warrant occurred immediately prior to the record
date fixed for the determination of eligible stockholders for the distribution of such securities
or property in respect of the Common Stock.

          (d) For the purpose of this Section 7.1, the term “shares of Common Stock”
means (i) the class of stock designated as the Common Stock, par value $0.001 per share, of the

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Company at the date of this Warrant or (ii) any other class of stock resulting from successive
changes or reclassification of such shares consisting solely of changes in par value, or from par
value to no par value, or from no par value to par value.

          (e) Whenever the number of Shares purchasable upon the exercise of this Warrant or the Warrant
Price per Share is adjusted as provided for herein, the Company shall promptly mail to the Holder
of this Warrant notice of such adjustment or adjustments, together with a certificate of the
Company setting forth the number of Shares purchasable upon the exercise of this Warrant and the
Warrant Price per Share after such adjustment, setting forth a brief statement of the facts
requiring such adjustment and setting forth the computation by which such adjustment was made.

          (f) The Company may, at its option, at any time during the term of this Warrant, reduce the
then current Warrant Price, or increase the number of shares of Common Stock purchasable upon
exercise of this Warrant, to such amount or number as the Board of Directors of the Company
considers to be advisable in order that any event treated for Federal income tax purposes as a
dividend of stock or stock rights shall not be taxable to the recipients.

7.2. No Adjustment for Dividends.

          Except as provided in Section 7.1, no adjustment in respect of any dividends shall be
made during the term of this Warrant or upon the exercise of this Warrant.

7.3. Termination of Purchase Rights Upon Merger, Consolidation, Etc.

     Notwithstanding anything to the contrary contained in this Warrant, the rights of holder shall
terminate in the event (“Termination Event”) of a:

	 	a)	 	a merger or consolidation in which

	 	i.	 	the Company is a
constituent party or
	 
	 	ii.	 	a subsidiary of
the Company is a constituent party and the Company
issues shares of its capital stock pursuant to such
merger or consolidation,

except any such merger or consolidation involving the Company or a subsidiary in which the
shares of capital stock of the Company outstanding immediately prior to such merger or
consolidation continue to represent, or are converted into or exchanged for shares of capital
stock that represent, immediately following such merger or consolidation, at least a majority,
by voting power, of the capital stock of (1) the surviving or resulting corporation or (2) if
the surviving or resulting corporation is a wholly owned subsidiary of another corporation
immediately following such merger or consolidation, the parent corporation of such

-7-

 

surviving or resulting corporation (provided that, for the purpose of this clause, all
shares of Common Stock issuable upon exercise or conversion of convertible securities
outstanding immediately prior to such merger or consolidation shall be deemed to be outstanding
immediately prior to such merger or consolidation and, if applicable, converted or exchanged in
such merger or consolidation on the same terms as the actual outstanding shares of Common Stock
are converted or exchanged); or

               b) the sale, lease, transfer, exclusive license or other disposition, in a single
transaction or series of related transactions, by the Company or any subsidiary of the Company
of all or substantially all the assets of the Company and its subsidiaries taken as a whole
(including, without limitation, its patents, trade secrets, contracts or underlying intellectual
property), or the sale or disposition (whether by merger or otherwise) of one or more
subsidiaries of the Company if substantially all of the assets of the Company and its
subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such
sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of
the Company.

               c) a transaction or series of related transactions in which a person, or a group of related
persons, acquires from stockholders of the Company shares representing more than fifty percent
(50%) of the outstanding voting power of the Company.

     The Company shall give notice in writing of such Termination Event to the Holder hereof, as
provided in Section 9 hereof. Such notice shall be given at least 10 days prior to the
date such Termination Event is to occur, specifying the date such Termination Event is to occur.

     If this Warrant is being exercised in connection with a Termination Event, then the Holder
may, at its option, condition its exercise of this Warrant upon the consummation of such
transaction, in which case such exercise shall not be deemed effective until the consummation of
such transaction. In any event, the Common Stock to be received by Holder will be subject to the
terms and provisions of the Investors Rights Agreement, including, without limitation, Section 6.3
of the Investors Rights Agreement.

8. NO RIGHTS AS STOCKHOLDER; NOTICES TO HOLDER.

          Nothing contained herein shall be construed as conferring upon the Holder hereof (solely in
its capacity as the Holder hereof) the right to vote or to receive dividends or to consent to or
receive notice as a stockholder of the Company in respect of any meeting of stockholders for the
election of directors of the Company or any other matter, or any rights whatsoever as a stockholder
of the Company. If, however, at any time prior to the Expiration Date and prior to the exercise in
full of this Warrant, any of the following events shall occur:

-8-

 

          (a) the Company shall declare any dividend or other distribution upon its outstanding shares
of Common Stock payable otherwise than in cash out of its retained earnings or in shares of Common
Stock; or

          (b) the Company shall authorize the granting to all holders of its outstanding shares of
Common Stock any rights, options or warrants to subscribe to or purchase any shares of Common Stock
or securities convertible into shares of Common Stock; or

          (c) any reclassification of the Common Stock of the Company (other than a subdivision or
combination of its outstanding shares of Common Stock), or any consolidation or merger to which the
Company is a party and for which approval of any stockholders of the Company is required, or any
sale, lease, license, transfer or other disposition of all or substantially all of the assets of
the Company, or a dissolution, liquidation or winding up of the Company shall be proposed;

then in any one or more of such events, the Company shall give notice in writing of such event to
the Holder hereof, as provided in Section 9 hereof. Such notice shall be given at least 10
days prior to the date fixed as a record date or the date of closing the transfer books for the
determination of the stockholders for purposes of such event. Such notice shall specify such
record date or the date of closing the transfer books, as the case may be.

9. NOTICES.

          Any notice, request, instruction or other communication to be given hereunder by the Company
or the Holder to the other shall be in writing and delivered personally or sent by telecopy or
overnight courier, postage prepaid, (a) if to the Company, to the Company at its Principal Office,
and (b) if to the Holder, to the Holder at its last address as it appears in the Warrant Register.
Communications delivered personally or by telecopy shall be deemed received on the same business
day, and communications delivered by overnight courier shall be deemed received on the next
succeeding business day.

10. SUCCESSORS.

          All the covenants and provisions of this Warrant by or for the benefit of the Company shall
bind and inure to the benefit of its successors and assigns hereunder. The Company shall not merge
or consolidate with or into any other person unless the person resulting from such merger or
consolidation (if not the Company) shall expressly assume the due and punctual performance and
observance of each and every covenant and condition of this Warrant to be performed and observed by
the Company.

-9-

 

11. CAPTIONS.

          The captions of the sections and subsections of this Warrant have been inserted for
convenience only and shall have no substantive effect.

12. GOVERNING LAW.

          This Warrant shall be governed by and construed in accordance with the laws of the State of
Delaware, without regard to the conflicts of laws principles thereof.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK;

SIGNATURES APPEAR ON FOLLOWING PAGE]

-10-

 

          IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed and delivered by
its duly authorized officer, and to be attested by its Secretary, as of the date set forth below.

Dated: September 17, 2009

	 	 	 	 	 
	 	RULES-BASED MEDICINE, INC.

 	 
	 	By  	/s/ T. Craig Benson	 
	 	 	T. Craig Benson 	 
	 	 	President 	 
	 

-11-

 

RULES-BASED MEDICINE, INC.

WARRANT TO PURCHASE SHARES OF COMMON STOCK

PURCHASE FORM

          The undersigned registered Holder hereby irrevocably elects to exercise the right of purchase
represented by the within Warrant for, and to purchase thereunder,                      shares of the stock
provided for therein, and tenders herewith payment of the aggregate Warrant Price of such shares in
the amount of $                    , in the form of a certified or official bank check payable to the order
of the Company. The undersigned Holder requests that certificates for such shares be issued in the
name of such Holder, as follows:

 

(PLEASE PRINT NAME, ADDRESS AND FEDERAL TAX I.D. NUMBER)

	 
	 

	 

	 

	 

	 

If such number of shares shall not be all the shares purchasable under the within Warrant, the
undersigned Holder requests that a new Warrant for the balance remaining of the shares purchasable
under the within Warrant be registered in the name of the undersigned Holder as indicated above and
delivered to the address stated above.

Dated:                                                             

	 	 	 	 	 
	Name of Holder:
	 	 	 	 
	 

	 	 

(PLEASE PRINT)
	 	 

	 	 	 	 	 
	Signature:
	 	 	 	 
	 

	 	 

	 	 

-12-

 

RULES-BASED MEDICINE, INC.

WARRANT TO PURCHASE SHARES OF COMMON STOCK

ASSIGNMENT FORM

     FOR VALUE RECEIVED, the undersigned registered Holder does hereby sell, assign and transfer
unto:

 

(PLEASE PRINT NAME, ADDRESS FEDERAL TAX I.D. NUMBER OF ASSIGNEE)

	 
	 

	 

	 

	 

	 

the right
to purchase            shares represented by the within Warrant and hereby authorizes the
transfer of registration of such Warrant to the assignee on the Warrant Register. The undersigned
further directs the Company to issue and deliver to the assignee, at the address set forth above, a
new Warrant of like tenor and representing the right to purchase such number of shares.

Dated:                                                             

	 	 	 	 	 
	Name of Holder:
	 	 	 	 
	 

	 	 

	 	 
	 

	 	(PLEASE PRINT)	 	 

	 	 	 	 	 
	Address:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	Signature:
	 	 	 	 
	 

	 	 

	 	 

-13-

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