Document:

gthp_ex1017

  Exhibit 10.17

 

 SECURITIES PURCHASE
AGREEMENT

 

This SECURITIES PURCHASE
AGREEMENT (the
"Agreement"), dated as of March 12,
2018, by and between Guided
Therapeutics, Inc.,
a Delaware corporation, with
headquarters located
at 5835 Peachtree Comers
East, Suite D, Norcross, GA
30092, (the "Company"), and
EAGLE EQUITIES,
LLC, a Nevada limited
liability company, with its address at
91 Shelton Ave, Suite107,
New Haven, CT 06511 (the
"Buyer").

 

 

WHEREAS:

 

A. The Company and the Buyer are
executing and
delivering this Agreement
in reliance upon
the exemption from securities registration afforded by the rules and regulations as promulgated
by the United States
Securities and Exchange Commission
(the "SEC") under the Securities Act of 1933,
as amended (the "1933 Act");

 

B. Buyer desires to purchase and the Company desires to issue and
sell, upon the
terms and conditions set forth
in this Agreement three 8% convertible
notes of the Company,
in the forms attached hereto as Exhibit
A, B and C in the aggregate principal amount of $200,000.01
(comprised of the
first note being in the amount
of $66,666.67, and the
remaining two notes
in the amounts of $66,666.67 each,
each a "Back End Note") (together with any
note(s) issued in replacement
thereof or as a dividend thereon or otherwise with respect thereto
in accordance with the terms thereof,
the "Note"), convertible into shares of
common stock,
of the Company (the
"Common Stock"), upon
the terms and subject
to the limitations and
conditions set forth in
such Note. Each
of the three notes shall contain a 10%
OID such that the purchase price of the
notes shall be $60,000.00 each. The first of the
three notes (the
"First Note") shall
be paid for by
the Buyer as set
forth herein.
Each $66,666.67 Back End Note
shall initially be paid
for by the issuance
of an offsetting
$60,000.00 secured note issued to the Company by
the Buyer (a "Buyer
Note"), provided
that prior to conversion
of a particular Back End
Note, the Buyer must have paid
off that particular Buyer Note in
cash such
that the particular
Back End Note may
not be
converted until it has been
paid for in cash by
Buyer.

 

C. The Buyer wishes
to
purchase, upon the
terms and conditions stated in this Agreement, such principal
amount of Note as
is set forth
immediately below its
name on the signature
pages hereto;and

 

NOW THEREFORE,
the Company and the Buyer
severally
(and not jointly) hereby
agree as follows:

 

1.
Purchase and Sale of
Note.

 

a. Purchase of Note. On each
Closing Date (as defined
below), the Company shall issue
and sell
to the Buyer and the Buyer
agrees to purchase from the Company such
principal amount of Note
as is set
forth immediately
below the Buyer's name on
the signature
pages hereto.

 

b. Form
of Payment. On the
Closing Date (as defined
below), (i) the
Buyer shall pay the purchase price for the First Note to
be issued and
sold to it at the Closing (as defined below) (the "Purchase Price") by wire
transfer of immediately available funds to the Company, in
accordance with
the Company's written wiring instructions, against delivery of the First Note in the
principal amount equal
to the Purchase Price as is set forth
immediately below the Buyer's name on the signature pages hereto,
and (ii) the Company
shall deliver
such duly executed First
Note on behalf of the Company, to
the Buyer, against delivery of
such Purchase Price.

 

c. Closing Date. The date and time
of
the first issuance
and sale
of the
First Note pursuant to this Agreement
(the
"Closing Date") shall be on or about March 12, 20 I 8, or such other mutually
agreed
upon time. The
closing of the transactions contemplated by this Agreement (the "Closing") shall
occur on
the Closing
Date at
such
location
as
may be agreed
to
by the parties.
The subsequent closing of each Back
End Note shall
occur on or
before the date specified in the Buyer Note. The Company may
reject
the
closing of the
back end financing by giving the Buyer written
notice at least 30 days prior to the 6 month
anniversary of the
Notes of its intent to reject the funding of each of the
Buyer
Notes.
In
such
base both the
Buyer
Notes and
Back End Notes shall be
terminated.

 

2. Buyer's Representations and Warranties. The Buyer
represents and warrants
to the Company
that:

 

a. Investment Purpose. As of the date hereof, the
Buyer is purchasing the Notes and the
shares of Common Stock issuable upon conversion of or otherwise pursuant to the Notes, such shares of Common Stock
being collectively
referred to herein as the
"Conversion Shares" and,
collectively with the Notes,
the "Securities") for its own
account and not
with a present view towards
the public sale
or distribution
thereof, except pursuant to
sales registered
or exempted from registration under the 1933 Act;provided,
however, that by
making the representations herein, the
Buyer does not agree to hold any of the Securities for any
minimum or other specific term and reserves the
right to dispose of the
Securities at any time in
accordance with or pursuant to a registration statement or
an exemption
under the 1933
Act.

 

b. Accredited Investor Status.
The Buyer is an "accredited
investor" as
that term is
defined in Rule 50l(a)
of Regulation D (an "Accredited Investor"). Any
of Buyer's
transferees, assignees, or
purchasers
must be "accredited investors" in order to
qualify as prospective
transferees, permitted
assignees in the
case of Buyer's or Holder's transfer, assignment or sale of
the Note.

 

 

1

 

 

c. Reliance
on Exemptions. The Buyer
understands
that the Securities are
being offered and sold
to it in reliance upon specific exemptions
from the registration
requirements of United
States federal
and state securities
laws and that the Company
is relying
upon the truth and accuracy of, and the Buyer's
compliance with, the representations, warranties, agreements, acknowledgments and
understandings
of the Buyer
set forth herein
in order to determine the
availability of such exemptions
and the eligibility
of the Buyer to acquire the Securities.

 

d. Information. The Buyer and its advisors, if
any, have been, and for so long as
the Note remain
outstanding will continue to
be, furnished with all materials relating to the
business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have
been
reasonably requested by the Buyer or
its advisors. The
Buyer and its advisors, if any,
have been, and
for so long as the Note remain outstanding will continue
to be, afforded the opportunity to ask questions
of the Company.
Notwithstanding the foregoing,
the Company has
not disclosed to the Buyer any
material nonpublic
information and will not disclose such
information unless such information is disclosed to the public
prior to or promptly following such disclosure to
the Buyer or Buyer agrees
to be subject to a nondisclosure agreement in form and substance
reasonably satisfactory to
the Company. In no
event shall the
Company be forced to disclose such information publicly solely
by reason of the Buyer's request for
such information. Neither
such inquiries nor any other due
diligence investigation conducted by Buyer or any of
its advisors or representatives
shall modify, amend or
affect Buyer's right to
rely on the Company's representations and warranties contained in Section 3
below. The Buyer understands that its investment in the
Securities involves a significant degree of risk. The Buyer is not aware of any
facts that may constitute a breach of any of the
Company's representations and warranties made
herein.

 

e. Governmental Review. The Buyer understands that
no United States federal or state
agency or any other
government or governmental agency has passed upon or made any
recommendation or endorsement of
the Securities.

 

f. Transfer or Re-sale.
The Buyer understands that
(i) the sale
or re-sale of the Securities
has not been
and is not being registered under the
1933 Act or any applicable state securities
laws, and the Securities may not be transferred unless
(a) the Securities are sold
pursuant to an effective registration statement under the 1933 Act, (b)
in the case of subparagraphs (c), (d) and (e) below, the
Buyer shall have delivered to
the Company, at
the cost of the
Buyer, an opinion
of counsel that shall
be in form,
substance and scope customary for opinions of counsel
in comparable transactions (an "Opinion of Counsel")
to the effect
that the Securities to be sold or transferred may be sold,
or transferred pursuant to an exemption from such registration, including
the removal of any
restrictive legend
which opinion
shall be
accepted by the Company, (c) the Securities are sold
or transferred to an
"affiliate" (as
defined in Rule 144 promulgated under the 1933 Act (or
a successor rule) ("Rule 144") of the Buyer who
agrees to sell
or otherwise transfer the Securities only in accordance with this Section 2(f) and who
is an Accredited Investor, (d) the
Securities are sold pursuant to Rule 144, or (e) the
Securities are sold
pursuant to Regulation
Sunder the 1933
Act (or a successor rule) ("Regulation S");(ii) any
sale of such Securities made in
reliance on Rule 144 may be made only in accordance
with the terms of said Rule and
further, if said
Rule is not applicable,
any re-sale of such Securities
under circumstances
in which the seller (or the
person through whom
the sale
is made) may be deemed to
be an underwriter (as that term is
defined in the 1933
Act) may require compliance
with some other
exemption under the 1933 Act or the rules and
regulations of the SEC thereunder; and (iii)
neither the Company nor
any other person is under any obligation to register such
Securities under the
1933 Act
or any state
securities laws or to comply
with the terms and conditions ofany
exemption thereunder (in each case). Notwithstanding
the foregoing or
anything else contained herein to the contrary, the
Securities may be pledged
as collateral in
connection
with a bona fide
margin account or other lending arrangement.

 

g. Legends.
The Buyer understands
that the Note and, until such time as the Conversion
Shares have been
registered under the 1933 Act or otherwise may be sold pursuant to
Rule 144 or Regulation S without any restriction
as to the number of
securities as of a particular
date that can
then be immediately
sold,
the Conversion Shares
may bear a restrictive legend in
substantially the
following form (and a stop-transfer
order may be placed
against transfer of the certificates
for such Securities):

“NEITHER
THE ISSUANCE AND SALE OF
THE SECURITIES
REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WIDCH THESE
SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT
OF
1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE
SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED
(I)
IN THE
ABSENCE OF
(A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT
OF 1933,
AS AMENDED,
OR
(B) AN OPINION OF
COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER),
IN
A GENERALLY
ACCEPTABLE
FORM, THAT
REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE
144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE
FOREGOING,
THE SECURITIES MAY
BE PLEDGED IN
CONNECTION
WITH
A
BONA
FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE
SECURITIES."

 

The legend set forth above shall
be removed and the Company shall
issue a certificate without
such legend to the
holder of any Security upon which it is
stamped, if,
unless otherwise required
by applicable state securities laws,
(a) such Security is
registered for sale under an
effective registration statement filed under the
1933
Act or otherwise may be sold
pursuant to Rule 144 or Regulation S without any restriction
as to the number
of securities as of
a particular date that can then
be immediately sold, and (b)
such holder
provides the Company with an Opinion of Counsel,
to the effect that a public sale
or transfer of such Security
may be made without registration under
the 1933 Act, and that legend
removal is
appropriate, which opinion shall
be accepted by
the Company so that the sale or transfer is effected. The Buyer agrees to sell
all Securities, including those represented by a
ce1tificate(s) from which the legend bas been removed,
in compliance with applicable prospectus
delivery requirements, if
any. In the event that
the Company does not accept such
Opinion of Counsel
provided
by the Buyer with respect
to the transfer
of Securities pursuant to an exemption from registration,
such as Rule 144 or
Regulation S, within
2 business days, it will
be considered an Event
of Default under
the Note.

 

h. Authorization; Enforcement.
The Buyer is a validly existing corporation, limited
partnership
or
limited
liability company and has all requisite corporate, partnership or
limited
liability company power and authority to invest in the Securities pursuant to this
Agreement. The execution, delivery and performance of
this
Agreement has
been duly and validly authorized
by the Buyer. This Agreement
has been duly executed and delivered on
behalf of the Buyer, and
this Agreement constitutes
a valid and binding agreement of the Buyer
enforceable in accordance with its
terms.

 

 

2

 

 

i. Residency. The Buyer is a resident of
the jurisdiction set forth
immediately below the Buyer's name on
the signature
pages hereto.

 

j. No
Short Sales. Buyer/Holder, its
successors and assigns,
agrees that so long
as the Note remains
outstanding, neither the Buyer/Holder nor
any of its affiliates shall not
enter into or effect
"short sales" of the
Common Stock or hedging transaction which establishes a short
position with respect
to the Common Stock
of the Company. The Company acknowledges and agrees that upon delivery
of a Conversion Notice
by the Buyer/Holder, the
Buyer/Holder immediately owns the shares of
Common Stock described in
the Conversion Notice
and any sale of those
shares issuable under such
Conversion Notice would not be considered short sales.

 

3. Representations and Warranties of the
Company. The Company represents and warrants to the Buyer
that, except as otherwise disclosed in the Company's filings with
the SEC:

 

a. Organization and Qualification.
The Company and each of its
subsidiaries,
if any, is a
corporation duly organized, validly existing and
in good standing under the
laws of the jurisdiction in which
it is incorporated, with full
power and authority (
corporate and other) to
own, lease, use and
operate its properties and to carry on its business as and
where now owned, leased,
used, operated and
conducted.

 

b. Authorization; Enforcement. (i)
The Company has
all reqms1te corporate power and authority to enter into and
perform this Agreement, the Note and to consummate
the transactions contemplated hereby and
thereby and to issue the Securities, in accordance with the
terms hereof and thereof, (ii) the execution and delivery of this
Agreement, the Note by the
Company and the consummation by it of the transactions contemplated
hereby and thereby (including
without
limitation, the
issuance of the Note and the issuance and reservation for issuance of the
Conversion Shares issuable upon conversion or exercise thereof)
have been duly authorized by the Company's Board of Directors
and no further consent
or authorization of the Company, its
Board of Directors, or its shareholders is required, (iii)
this Agreement
has been duly executed and delivered by
the Company by its authorized representative, and such authorized representative is the true
and official representative with authority
to sign this Agreement and the other
documents executed in connection herewith and bind the
Company accordingly,
and (iv) this
Agreement constitutes, and upon execution
and delivery
by the Company
of the Note,
each of such
instruments will constitute, a legal, valid and
binding obligation of the Company
enforceable against the Company in accordance with its
terms, subject
to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of
general
applicability,
relating to or affecting creditors' rights
generally.

 

c. Issuance of Shares. The Conversion Shares are duly authorized and reserved for
issuance and, upon conversion of the Note in accordance with its respective terms,
will be validly issued, fully paid
and non-assessable,
and free from all taxes, liens, claims
and encumbrances with respect to
the issue thereof and shall not be
subject to preemptive rights or other similar rights
of shareholders of the Company and will not impose personal
liability upon the holder thereof.

 

d. Acknowledgment of Dilution. The
Company understands and acknowledges the potentially
dilutive effect
to the Common Stock
upon the issuance of the
Conversion Shares upon
conversion of the Note.
The Company further
acknowledges that
its obligation to issue Conversion
Shares upon conversion of the Note in
accordance with
this Agreement, the
Note is absolute and unconditional regardless of the
dilutive effect that such issuance
may have on the ownership interests of other shareholders of the Company.

 

e. No
Conflicts. The execution, delivery and performance of this
Agreement, the Note by
the Company and the consummation by the Company of the
transactions contemplated hereby and thereby (including,
without limitation, the issuance
and reservation for issuance of the
Conversion Shares) will not (i) conflict with or result
in a violation
of any provision of
the Certificate of Incorporation or By-laws, or (ii) violate or
conflict with, or
result in a breach of any
provision of,
or constitute a default ( or an
event which with notice or lapse of time or
both could become a
default) under, or give to
others any rights of termination, amendment, acceleration or
cancellation of, any agreement,
indenture, patent, patent license or instrument to which
the Company or any of its Subsidiaries is a
party, or (iii) result in a violation of any law, rule,
regulation, order, judgment or decree (including
federal and state securities laws and regulations and
regulations of any self-regulatory organizations to which the
Company or its securities are
subject) applicable to the Company or
any of its Subsidiaries or by which any
property or asset of
the Company or any of its Subsidiaries
is bound or affected ( except,
with respect to clauses
(ii) and (iii), for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse Effect). All
consents, authorizations, orders,
filings and registrations which the Company is
required to obtain pursuant to the preceding sentence have
been obtained or effected on or prior
to the date hereof. The
Company is not in violation of
the listing requirements of the OTC Markets
Exchange (the "OTC
MARKETS") and
does not reasonably anticipate that the
Common Stock will be
delisted by the OTC MARKETS in
the foreseeable
future, nor are the
Company's securities "chilled"
by FINRA. The Company and its Subsidiaries are unaware of any
facts or circumstances which might give rise to
any of the foregoing.
"Material Adverse Effect" means
a material adverse
effect on (i) the
assets, liabilities, results of operations,
condition (financial or otherwise), business,
or prospects of
the Company and
its subsidiaries
taken as a
whole, or (ii)
the ability of the
Company to perform its obligations under this Agreement or the
Notes.

 

 

3

 

 

f. Absence of Litigation. There is
no action, suit,
claim, proceeding, inquiry or
investigation before or
by any court,
public board,
government agency, self-regulatory organization or body pending or, to the knowledge of
the Company or any of
its subsidiaries,
threatened against or affecting the Company or any
of its subsidiaries, or
their officers or directors
in their capacity as
such, that could have
a Material Adverse Effect.
The Company and its subsidiaries are unaware of any facts or
circumstances which might give rise to
any of the foregoing.

 

g. Acknowledgment Regarding Buyer' Purchase of
Securities. The Company acknowledges and agrees
that the Buyer is acting solely in
the capacity of
arm's length
purchasers with respect to this
Agreement and
the transactions contemplated
hereby. The Company further acknowledges that the Buyer is not
acting as a financial advisor or fiduciary of the
Company ( or in any similar
capacity) with respect to this
Agreement and the transactions contemplated hereby
and any statement
made by the Buyer or any of
its respective
representatives or agents in
connection with this Agreement and the transactions
contemplated hereby is not
advice or a recommendation and is
merely incidental to
the Buyer' purchase of the Securities. The
Company further represents to the Buyer that the Company's
decision to enter
into this Agreement has been
based solely on
the independent evaluation of
the Company and its representatives.

 

h. No Integrated Offering. Neither the Company, nor
any of its affiliates, nor any person acting on its
or their behalf, has directly or
indirectly made any offers or sales in any
security or solicited any
offers to buy any security under circumstances that would require
registration under the 1933 Act of the issuance of the
Securities to the Buyer.

 

i. Title to
Property. The Company
and its subsidiaries have
good and marketable title in fee simple to all
real property and good
and marketable title to
all personal property owned by them
which is material to the business of the
Company and
its subsidiaries,
in each case free and clear of all
liens, encumbrances
and defects except such as are described in Schedule 3(i) or such
as would not have a
Material Adverse Effect. Any
real property and
facilities held under lease
by the
Company and its subsidiaries
are held by them under valid,
subsisting
and enforceable leases with
such exceptions as would
not have a Material
Adverse Effect.

 

j.
Bad Actor. No officer or
director of the Company
would be disqualified under Rule
506(d) of the Securities Act as amended
on the basis of being a
"bad actor" as that term is
established
in the
September 19, 2013 Small Entity Compliance Guide published by the Securities and Exchange
Commission.

 

k. Breach of Representations and Warranties by
the Company. If
the Company breaches any of the
representations or
warranties set forth
in this Section 3 in
any material respect, and
in addition to any other remedies available to
the Buyer pursuant
to this Agreement, it
will be
considered an Event
of default under the
Note.

 

4. COVENANTS.

 

a. Expenses. Excluding
transfer agent
and
other
fees set forth
in
the
First
Note,
and
except
with respect
to
the
$3,000
per Note to be
withheld from the Purchase Price for the Buyer's
legal fees, each party shall be responsible for its own expenses incurred in connection with this Agreement.

 

b. Listing. The Company shall
promptly secure the listing of
the Conversion
Shares upon each national
securities exchange
or automated quotation
system, ifany,
upon which
shares
of Common Stock
are then listed (subject to
official notice of issuance) and, so long
as the Buyer owns any of the
Note Securities, shall
maintain, so long
as any other shares
of Common Stock shall
be so listed,
such listing of
all Conversion
Shares from time to time issuable upon
conversion of the Note. The Company
will obtain and, so long as the
Buyer owns any of the Securities, maintain the
listing and trading of its
Common Stock
on the OTC MARKETS or any
equivalent replacement market, the Nasdaq stock
market ("Nasdaq") or the New
York Stock Exchange (''NYSE")
and will comply in all respects with the
Company's reporting, filing and
other obligations under the bylaws or rules of the Financial
Industry Regulatory Authority ("FINRA") and such
exchanges, as
applicable. The Company
shall promptly provide to the Buyer copies of any
notices it
receives from the OTC MARKETS
and any other markets on which
the Common Stock
is then listed
regarding the continued eligibility of the Common Stock
for listing on such
markets.

 

c. Corporate Existence. So long as
the Buyer beneficially owns the
Note, the Company shall
maintain its corporate existence and shall not sell
all or substantially
all of the Company's assets, except in the event of a merger or
consolidation or
sale of all or substantially all
of the Company's assets,
where the surviving or successor entity in such
transaction (i) assumes the
Company's obligations hereunder and under the agreements and
instruments entered into in connection
herewith and (ii) is
a publicly traded corporation
whose Common
Stock is
listed for trading on the OTC MARKETS, Nasdaq or
NYSE.

 

d. No
Integration. The
Company shall not make any offers or sales
of any security (other than the Securities) under
circumstances that would require
registration of the Securities being offered or sold
hereunder under the
1933 Act or
cause the offering of
the Securities to be integrated with
any other offering of securities by
the Company for the purpose of any stockholder approval
provision applicable to the Company or its
securities.

 

e. Breach of Covenants. If
the Company breaches any of the covenants set forth in this
Section 4, and in
addition to any other remedies available to the
Buyer pursuant
to this Agreement, it
will be considered
an event of default under
the Note.

 

 

4

 

 

5. Governing Law;Miscellaneous.

 

a. Governing Law. This Agreement shall
be governed by
and construed in accordance with
the laws
of the State of Nevada without
regard to principles of
conflicts of laws.
Any action
brought by either party
against
the other concerning the transactions contemplated by this Agreement shall
be brought only in the
state courts of New
York or in the federal courts located
in the state and
county of New York. The parties to this
Agreement hereby irrevocably
waive any objection
to jurisdiction and venue of any action instituted hereunder and shall not assert
any defense based on lack
of jurisdiction or venue or based upon forum non conveniens.
The Company and Buyer waive trial by
jury. The prevailing party shall be entitled to
recover from the other party its reasonable attorney's fees and costs. Each
party hereby irrevocably waives personal service of
process and consents to process being served in any
suit, action or proceeding in connection with this
Agreement or any other Transaction Document by mailing a
copy thereof via registered or certified mail or
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 other manner permitted by
law.

 

b. Counterparts;Signatures by Facsimile. This Agreement may be executed in one or more
counterparts, each of which
shall be deemed an original but
all of which shall
constitute one and the
same agreement and shall become effective when counterparts have been signed by each
party and delivered to the other party. This Agreement, once executed by a
party, may be delivered to the
other party hereto by facsimile transmission of a copy of this Agreement, or
electronic mail transmission of a ".pdf' copy of this
Agreement, bearing the signature of the party so delivering
this Agreement.

 

c. Headings.
The headings
of this Agreement
are for convenience
of reference only and shall not
form part of,
or affect the interpretation of, this
Agreement.

 

d. Severability. In the event
that any provision
of this Agreement
is invalid or unenforceable
under any applicable statute or
rule of law, then such
provision shall be deemed inoperative to the extent that it
may conflict
therewith and shall be deemed modified to conform with such
statute or rule of law. Any
provision hereof which may prove invalid or unenforceable under any law shall not affect the validity
or enforceability of any
other provision hereof.

 

e. Entire Agreement; Amendments. This Agreement and the instruments referenced herein
contain the entire understanding of the parties
with respect to the
matters covered herein
and therein and,
except as specifically set forth herein or
therein, neither the Company nor
the Buyer makes any representation, warranty, covenant or undertaking with respect to such
matters. No provision of this
Agreement may be waived or amended other than by
an instrument in writing
signed by the waiving party, in the
case of a waiver, or by
the Company and a
majority in interest
of the Buyer, in the
case of an amendment.

 

f. Notices.
All notices, demands, requests, consents,
approvals, and other communications required or permitted hereunder shall be
in writing and, unless otherwise specified herein, shall be (i)
personally served, (ii) deposited in the mail, registered or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, (iv) via electronic mail or (v)
transmitted by hand delivery,
telegram, or facsimile,
addressed as set forth below or
to such other address as such
party shall have
specified most recently by written notice. Any notice or other communication required or permitted to
be given hereunder shall be
deemed effective (a)
upon hand delivery or delivery by
facsimile, with accurate confirmation generated by the
transmitting facsimile machine, at the
address or number designated below (if delivered
on a business day during normal business hours where such notice is to
be received) or delivery via
electronic mail, or
the first business
day following such delivery (if
delivered
other than on
a business day during normal
business hours
where such notice is
to be received) or (b)
on the second business day
following the date of mailing by express
courier service, fully
prepaid, addressed to such
address, or upon actual
receipt of such mailing,
whichever shall first
occur. The addresses
for such communications shall
be:

 

If to the Company, to:

 

Guided Therapeutics, Inc.

5835 Peachtree Corners
East,

Suite D

Norcross,
GA 30092

Attn: Gene S. Cartwright, CEO

 

If to the
Buyer:

EAGLE EQUITIES,
LLC

91 Shelton
Ave, Suite 107

 New Haven,
CT 06511

Attn: Yakov
Borenstein

 

Each party shall provide
notice to the
other party of any
change in address.

 

 

5

 

 

g. Successors
and Assigns.
This Agreement shall
be binding upon and inure to the
benefit of the
parties and
their successors
and assigns.
Neither the Company
nor the Buyer shall
assign this Agreement
or any rights
or obligations
hereunder without the
prior written consent
of the other. Notwithstanding the foregoing, the
Buyer may
assign its
rights hereunder
to any of
its "affiliates," as
that term is defined
under the
1934 Act, without
the consent of
the Company with Buyer's Opinion of
Counsel.

 

h. Third Party
Beneficiaries.
This Agreement is
intended for the benefit
of the parties hereto and their
respective
permitted successors and
assigns, and is
not for the benefit
of, nor
may any
provision
hereof be enforced by, any
other person.

 

i. Survival.
The representations
and warranties of
the Company
and the
agreements
and covenants
set forth
in this Agreement shall
survive the closing
hereunder notwithstanding
any due diligence
investigation
conducted by or on behalf
of the Buyer.
The Company agrees to indemnify and
hold harmless
the Buyer and
all their
officers, directors, employees
and agents for
loss or
damage arising as
a result
of or related to
any breach
by the
Company
of any of its
representations, warranties
and covenants set forth
in this Agreement or
any of its
covenants and obligations
under
this Agreement, including
advancement
of expenses
as they are incurred.

 

j.
Further Assurances. Each party
shall do and perform, or
cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably
request in order to
carry out the intent and
accomplish the purposes
of this Agreement and the consummation of the transactions contemplated
hereby.

 

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

 

l. Remedies.
The Company acknowledges that
a breach by it
of its obligations hereunder will cause irreparable harm to the Buyer
by vitiating
the intent and purpose of
the transaction
contemplated hereby. Accordingly, the Company
acknowledges that
the remedy at law
for a breach of its
obligations under this
Agreement will be inadequate
and agrees, in the event
of a breach or threatened
breach by the Company of
the provisions
of this Agreement, that the Buyer shall be entitled, in addition to all other
available remedies at
law or in
equity, and in
addition to the
penalties assessable
herein, to
an injunction or injunctions
restraining, preventing or curing any breach of
this Agreement
and to enforce specifically the terms and
provisions hereof, without the necessity
of showing economic loss
and without any bond or other
security being
required.

 

 

 

6

 

 

IN WITNESS WHEREOF, the
undersigned Buyer and
the Company have caused
this Agreement to be
duly executed
as
of the date
first above written.

 

GUIDED THERAPEUTICS, INC.

 

By: /s/ Gene
S. Cartwright

Name:
Gene S. Cartwright

Title:
CEO

 

EAGLE EQUITIES, LLC

 

By:
/s/ Yakov Borenstein

Name:
Yakov Borenstein

Title:
Manager

 

 

AGGREGATE SUBSCRIPTION AMOUNT: $200,000.01
Aggregate Principal Amount
ofNotes: Aggregate Purchase
Price: Note 1:
$66,666.67, less $6,666.67 in OID, less $3,000.00
in legal fees, less
fees of $6,000.00 to Moody Capital
Solutions, Inc.

 

Back End Note 1: $66,666.67, less
$6,666.67 in OID,
less $3,000.00 in legal fees,
less fees of $6,000.00 to Moody Capital Solutions, Inc. Back End
Note 2: $66,666.67, less $6,666.67 in OID,
less $3,000.00 in
legal fees, less
fees of $6,000.00 to Moody
Capital Solutions,
Inc.

 

 

7

 

 

EXHIBIT A 144 NOTE -$66,666.67

 

EXHIBIT
B

BACK
END NOTE 1-$66,666.67

 

EXHIBIT
C BACK END NOTE 2-$66,666.67

 

 

8gthp_ex1018

  Exhibit 10.18

 

 

 SECURITIES PURCHASE
AGREEMENT

THIS PURCHASE AGREEMENT
("Agreement") is made as of the 17th
day of May,
2018 by and between
Guided
Therapeutics, Inc., (the "Company"),
and GHS Investments, LLC
(the "Investor").

 

 

 

Recitals

A. The Investor wishes to purchase from the
Company and the Company wishes to sell
and issue to the Investor, upon the
terms and conditions stated in
this Agreement:

 

1.
$9,250 of
Securities, in the form of a Promissory Note (the "Note"),
attached hereto.

 

In consideration of the mutual promises made
herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:

 

1.
Definitions. In addition to those
terms defined above and elsewhere in this
Agreement, for the purposes of this
Agreement, the following
terms shall have the meanings set forth below:

 

"Affiliate" means, with respect
to any Person,
any other Person which directly or
indirectly through one or more intermediaries
Controls, is controlled by, or is under
common control with,
such Person.

 

"Business
Day" means a day, other than a Saturday or Sunday, on
which banks in New York City are open for the general transaction
of business.

 

"Common
Stock Equivalents" means any
securities of the Company or the Subsidiaries which would entitle
the holder thereof to acquire at any time Common Stock, including
without limitation,
any debt, preferred
stock, rights,
options, warrants or other instrument
that is at any time convertible into or exchangeable
for, or otherwise entitles the holder thereof to
receive, Common Stock.

 

"Company's Knowledge"
means the actual knowledge of the executive
officers (as defined in Rule 405 under the 1933 Act) of the
Company, after due inquiry.

 

"Confidential Information" means trade
secrets, confidential information and know-how (including
but not limited to ideas, formulae,
compositions, processes,
procedures and techniques, research
and development information, computer program
code, performance specifications, support documentation,
drawings, specifications, designs, business and
marketing plans,
and customer and supplier lists and
related information).

 

"Control" (including the terms "controlling", "controlled
by" or "under common control with") means the
possession, direct or indirect, of the power to direct or cause the
direction of the management and policies of a
Person, whether through the ownership of voting
securities, by contract or otherwise.

 

"Intellectual Propertv" means all of
the following: (i) patents, patent
applications,
patent disclosures and inventions
(whether or not patentable and whether or not reduced to practice);
(ii) trademarks,
service marks, trade dress, trade
names, corporate names, logos, slogans and Internet domain
names, together with
all goodwill associated with each of the foregoing; (iii)
copyrights and copyrightable works;(iv)
registrations,
applications and renewals for any of
the foregoing; and (v) proprietary computer software (including but
not limited to data, data bases and
documentation).

 

"Material Adverse Effect" means a material adverse
effect on (i) the assets, liabilities, results of
operations, condition (financial or otherwise),
business, or prospects of the Company and its Subsidiaries
taken as a whole,
or (ii) the ability of the Company to
perform its obligations under the Transaction
Documents.

 

"Person" means
an individual, corporation,
partnership,
limited liability company,
trust, business trust, association,
joint stock company,
joint venture, sole
proprietorship,
unincorporated
organization,
governmental authority or any other
form of entity not specifically listed herein.

 

 

1

 

 

"Purchase
Price" means $7,500, representing a 10% original issuance discount
on the Note and an initial $1,000 being withheld by the Investor to
offset legal and other transaction costs.

 

"SEC"
means the United States Securities and
Exchange Commission.

 

"Securities"
means the Note and the common shares issuable at
conversion.

 

"Subsidiary" of
any Person means another Person, an amount of the
voting securities, other voting
ownership or voting partnership interests of which is
sufficient to elect at least a majority of its Board of Directors
or other governing body (or, if there are
no such voting interests, 50% or more
of the equity interests of which) is owned directly or
indirectly by such first Person.

 

"Transaction Documents" means this
Agreement, the Note, the Company Representation Letter, and
supporting documents.

 

"1933 Act" means the
Securities Act of 1933,
as amended, or any
successor statute, and the rules and regulations
promulgated thereunder.

 

" 1934
Act" means the Securities Exchange Act
of 1934, as amended, or any
successor statute,
and the rules and
regulations promulgated thereunder.

 

2. Purchase and Sale of the Securities. Subject to
the terms and conditions of this Agreement, the Company shall sell
and issue to the Investor a Promissory Note in the principal amount
of$9,250.

 

2.1
Security As Security for the Company's obligations contained herein
and in the Note issued by the Company to the Holder, following any
Event of Default which remains uncured for fifteen (IS) calendar
days, the Holder shall be granted an unconditional security
interest in and to, any and all property of the Company and its
subsidiaries, of any kind or description, tangible or intangible,
whether now existing or hereafter arising or acquired until the
balance of the Note has been reduced to $0. "Any and all property,"
as described herein shall be inclusive of, but not limited to,
assets reported by the Company on its SEC filings, cash, inventory,
accounts receivable, intellectual property rights, equipment and
property. The Investor is authorized to make all filings the
Investor, in its discretion, deems necessary to evidence its
security interests.

 

3. Closing. Upon confirmation that the other
conditions to closing specified herein have been satisfied or duly
waived by the Investor, the Company shall deliver to the Investor,
a Note registered the name of the Investor and the Investor shall
cause a wire transfer in same day funds to be sent to the account
of the Company as instructed in writing by the
Company, in an amount representing the Purchase Price for
the Note (the "Closing
Date").

 

4. Representations and Warranties of the Company.
The Company hereby represents and warrants to the Investor that,
except as set forth in the schedules delivered herewith
(collectively,
the "Disclosure
Schedules") and as disclosed in the Company's
SEC Filings:

 

4. I Organization. Good Standing and
Qualification. Each of the Company and its Subsidiaries is a
corporation duly organized, validly existing and in good standing
under the laws of the jurisdiction of its incorporation and has all
requisite corporate power and authority to carry on its
business as now
conducted and to own its
properties. Each of
the Company and its Subsidiaries is duly qualified to
do business as a foreign corporation and is in good standing in
each jurisdiction in which the conduct of its business or its
ownership or leasing of property makes such qualification or
leasing necessary unless the failure to so qualify has not and
could not reasonably be expected to have a Material Adverse Effect.
The Company's Subsidiaries are listed on the
Company's public disclosures filed with the
SEC.

 

4.2 Authorization. The
Company has full power and authority
and, has taken all requisite action on the part of the
Company, its officers, directors
and stockholders necessary for (i) the authorization, execution and
delivery of the Transaction Documents, (ii)
authorization of the performance of all obligations of the Company
hereunder or thereunder,
and (iii) the
authorization,
issuance (or reservation for issuance)
and delivery of the Securities. The Transaction Documents
constitute the legal,
valid and binding obligations of the
Company, enforceable against the
Company in accordance with their terms, subject to
bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium
and similar laws of general applicability, relating to
or affecting creditors'
rights generally.

 

 

2

 

 

4.3 Capitalization. As of the date
hereof, the authorized common stock of the Company on the date
hereof is 1,000,000,000 (b)
the number of shares of capital stock issued and outstanding as
of 5/17/2018
is 195,178,173 (c) the number of shares of capital stock issuable
pursuant to the Company's stock plans' ;and (d) the
number of shares of capital stock issuable and
reserved for issuance pursuant to securities (other than the
Securities) exercisable for, or
convertible into or exchangeable for any shares of capital stock of
the Company as of 5/17/2018 are
872,084,220. All of the
issued and outstanding shares of the Company's
capital stock have been duly authorized and validly issued
and are fully paid, nonassessable and free of
pre-emptive rights. All of the issued
and outstanding shares of capital stock of each Subsidiary have
been duly authorized and validly issued and are fully
paid, nonassessable and free of pre-emptive rights, were
issued in full compliance with applicable state and federal
securities law and any rights of third parties and are owned
by the Company,
beneficially and of record,
subject to no lien, encumbrance or
other adverse claim. No Person is entitled to pre-emptive or
similar statutory or contractual rights with respect to
any securities of the Company. Other than described herein and in
the Company's periodic reports filed with the SEC, there are no
outstanding warrants, options, convertible securities or other
rights, agreements or arrangements of any character under
which the Company or any of its Subsidiaries is or may be obligated
to issue any equity securities of any kind and except as
contemplated by this Agreement, neither the
Company nor any of its Subsidiaries is currently in negotiations
for the issuance of any equity securities of any
kind.

 

The issuance and sale of the Securities hereunder
will not obligate the Company to issue shares of Common Stock or
other securities to any other Person (other than the Investor) and
will not result in the
adjustment of the exercise, conversion, exchange or
reset price of any outstanding security.

 

The Company does not have outstanding stockholder
purchase rights or "poison pill"
or any similar arrangement in effect giving any Person the right to
purchase any equity interest in the
Company upon the occurrence of certain events.

 

4.4 Valid Issuance. The issued Securities have
been duly and validly authorized and, when issued
and paid for pursuant to this Agreement, shall be
free and clear of all encumbrances and restrictions (other than
those created by the Investor), except for
restrictions on transfer set forth in the Transaction Documents or
imposed by applicable
securities laws. Upon the due conversion of the Debenture, the
Converted Shares will be validly issued, fully paid
and non-assessable free and clear of all encumbrances and
restrictions,
except for restrictions on transfer
set forth in the Transaction Documents or imposed by applicable
securities laws and except for those created by the Investor. The
Company has reserved a sufficient number of shares of Common Stock
for issuance upon the exercise of the Debenture, free and
clear of all encumbrances and restrictions, except for
restrictions on transfer set forth in the Transaction Documents or
imposed by applicable securities laws and except for those created
by the Investor.

 

4.5 Consents. The execution, delivery and
performance by the Company of the Transaction
Documents, and the offer, issuance and
sale of the Securities require no consent of, action by or
in respect of, or filing with, any
Person, governmental body, agency, or
official other than filings that have been made pursuant to
applicable state securities laws, and post-sale filings pursuant to
applicable state and federal securities laws which the Company
undertakes to file within the applicable time periods. Subject to
the accuracy of the representations and warranties of the Investor
set forth in Section 5 hereof, the Company has taken all action
necessary to exempt (i) the issuance and sale of the
Securities, (ii) the issuance of the Shares upon due conversion of
the Debenture,
and (iii) the other transactions
contemplated by the Transaction Documents from the provisions of
any shareholder rights plan or other "poison
pill" arrangement, any anti-takeover, business
combination or control share law or statute binding on the Company
or to which the Company or any of its assets and properties may be
subject and any provision of the Company's Articles of
Incorporation or By-laws that is or could reasonably be expected to
become applicable to the Investor as a result of the transactions
contemplated hereby,
including without
limitation, the issuance of the Securities and the
ownership, disposition or voting of the Securities by the
Investor or the exercise of any right granted to the Investor
pursuant to this Agreement or the other Transaction
Documents.

 

4.6 Delivery of SEC Filings; Business. The Company
has made available or shall make available, within twenty calendar
days from the execution of this Agreement, to the Investor through
the EDGAR system,
true and complete copies of the
Company's most recent Annual Report on Form
IO-K for its last fiscal year (the
" IO-K"), and all other reports filed by the Company
pursuant to the 1934 Act since the filing of the 10-K and prior to
the date hereof (collectively, the "SEC Filings"). The SEC
Filings are the only filings required of the Company pursuant to
the 1934 Act for such period. The Company and its Subsidiaries are
engaged in all material respects only in the business described in
the SEC Filings and the SEC Filings contain a complete and accurate
description in all material respects of the business of the Company
and its Subsidiaries,
taken as a whole.

 

4.7 Use of Proceeds. The net proceeds of
the sale of the Note hereunder shall be used by the
Company for working capital and general corporate purposes. The
Company agrees that it shall not use the funds from this
Agreement, at any time, to lend
money, give credit or make advances to any
officers, directors, employees, subsidiaries
and affiliates of the Company.

 

 

3

 

 

4.8 No Conflict, Breach, Violation or Default. The
execution, delivery and performance of the Transaction
Documents by the Company and the issuance and sale of the
Securities will not conflict with or result in a breach or
violation of any of the terms and provisions of, or
constitute a default under (i) the Company's Articles of
Incorporation or the Company's Bylaws, both as in
effect on the date hereof (true and complete copies of which have
been made available to the Investor through the EDGAR
system), or (ii)(a) any statute, rule,
regulation or order of any
governmental agency or body or any court, domestic or
foreign, having jurisdiction over the
Company, any Subsidiary or any of their respective assets
or properties,
or (b) any agreement or instrument to which the Company
or any Subsidiary is a party or by which the Company or a
Subsidiary is bound or to which any of their respective assets or
properties is subject.

 

4.9 Brokers and Finders. No Person will
have, as a result of the transactions contemplated by
the Transaction Documents, any valid
right, interest or claim against or upon the Company, any
Subsidiary or an Investor for any commission, fee or other
compensation pursuant to any agreement, arrangement or
understanding entered into by or on behalf of the
Company.

 

4.10 No Directed Selling Efforts or General
Solicitation. Neither the Company nor any Person acting on its
behalf has conducted any general solicitation or general
advertising (as those terms are used in Regulation D) in connection
with the offer or sale of any of the Securities.

 

4.11 No Integrated Offering. Neither the Company
nor any of its Affiliates, nor any
Person acting on its or their behalf has, directly or indirectly,
made any offers or sales of any Company security or solicited any
offers to buy any security, under circumstances that would
adversely affect reliance by the Company on Section 4(2) for the
exemption from registration for the transactions contemplated
hereby or would require
registration of the Securities under the 1933
Act.

 

4.12
Private Placement. The offer and sale of the Securities to the
Investor as contemplated hereby is exempt from the registration
requirements of the 1933 Act.

 

5.
Representations and Warranties of the
Investor. The Investor hereby represents and
warrants to the Company that:

 

5.1 Organization and Existence. Such
Investor is a validly existing corporation, limited partnership or
limited liability company and has all requisite corporate,
partnership or limited liability company power and authority to
invest in the Securities pursuant to this
Agreement.

 

5.2 Authorization. The
execution, delivery and performance by such Investor of the
Transaction Documents to which such Investor is a party have been
duly authorized and will each constitute the valid and legally
binding obligation of such Investor, enforceable
against such Investor in accordance with their respective
terms, subject to bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium
and similar laws of general applicability, relating to
or affecting creditors'
rights generally.

 

5.3 Purchase Entirely for Own Account. The
Securities to be received by sucb Investor hereunder will be
acquired for such Investor's own
account, not as nominee or agent, and not with a view to the resale
or distribution of
any part thereof in violation of the
1933 Act, and such Investor has no present intention of
selling, granting any participation in, or otherwise
distributing the same in violation of the 1933 Act without
prejudice, however, to such
Investor's right at all times to sell or otherwise dispose of all
or any part of such Securities in compliance with applicable
federal and state securities laws. Nothing contained herein shall
be deemed a representation or warranty by such Investor to hold the
Securities for any period of time. Such Investor is not a broker-dealer
registered with the SEC under the 1934 Act or an entity engaged in
a business that would require it to be so
registered.

 

5.4 Investment Experience. Such Investor
acknowledges that it can bear the economic risk and complete loss
of its investment in the Securities and has such knowledge and
experience in financial or business matters that it is capable of
evaluating the merits and risks of the investment contemplated
hereby.

 

5.5 Disclosure of Information. Such
Investor has had an opportunity to receive all information related
to the Company
requested by it and to ask questions
of and receive answers from the Company regarding the Company, its
business and the terms and conditions of the offering of the
Securities. Such Investor acknowledges receipt of copies of the SEC
Filings. Neither such inquiries nor any other due diligence
investigation conducted by such Investor shall modify, amend or
affect such Investor'
s right to rely on the Company's
representations and warranties contained in this
Agreement.

 

 

4

 

 

5.6 Restricted
Securities. Such Investor understands that the Securities are
characterized as "restricted
securities" under the U.S. federal securities laws inasmuch as
they are being acquired from the Company in a transaction not
involving a public offering and that under such laws and applicable
regulations such securities may be resold without registration
under the 1933 Act only in certain limited
circumstances.

 

5.7 Legends. It
is understood that, except as provided
below, certificates evidencing the Securities may bear the
following or any similar legend:

 

(a) "The
securities represented hereby may not be transferred unless (i)
such securities have been registered for sale pursuant to the
Securities Act of 1933,
as amended, (ii) such
securities may be sold pursuant to Rule l44(i), or (iii) the
Company has received an opinion of counsel reasonably satisfactory
to it that such transfer may lawfully be made without registration
under the Securities Act of 1933 or qualification under applicable
state securities laws."

 

(b) If required by the authorities of
any state in connection with the issuance of sale of the
Securities, the legend required by such state
authority.

 

5.8
Accredited Investor. Such Investor is an accredited investor as
defined in Rule 501 (a) of Regulation D, as amended, under the 1933
Act.

 

5.9 No General
Solicitation. Such Investor did not learn of the investment in the
Securities as a result of any public advertising or general
solicitation.

 

5.10 Brokers and Finders. No Person will have, as
a result of the transactions contemplated by the Transaction
Documents, any valid right, interest or
claim against or upon the Company, any
Subsidiary or an Investor for any commission, fee or other
compensation pursuant to any agreement, arrangement or
understanding entered into by or on behalf of such
Investor.

 

6.
Conditions to Closing.

 

6.1 Conditions to the Investor's Obligations. The
obligation of the Investor to purchase the Note at
Closing is subject to
the fulfillment to such
Investor's satisfaction, on or
prior to the Closing Date, of the following conditions,
any of which may be
waived by the Investor:

 

(a) The representations and warranties made
by the Company in Section 4
hereof qualified as to materiality shall be true and correct at
all times prior to and on the Closing
Date, except to the extent any
such representation or warranty expressly speaks as of an
earlier date,
in which case such representation or
warranty shall be true and correct as of such earlier
date, and, the
representations and warranties
made by the Company in Section 4 hereof not qualified as
to materiality shall be true and correct in all material respects
at all times prior
to and on the Closing Date,
except to the extent any such representation or warranty
expressly speaks as of an earlier date, in which
case such representation or warranty shall be true and
correct in all material respects as of such earlier date. The Company
shall have performed
in all material respects all
obligations and conditions herein required to be performed
or observed by it on or prior to the Closing
Date.

 

(b) The Company shall have obtained any and all
consents, permits, approvals, registrations and waivers necessary
or appropriate for consummation of the purchase
and sale of the Securities, and
the consummation of the other transactions
contemplated by
the Transaction Documents, all of
which shall be in full force and effect.

 

(c) No judgment, writ, order, injunction, award or
decree of or by any court, or
judge, justice or magistrate, including any
bankruptcy court or judge, or any
order of or by
any governmental authority, shall have
been issued, and no action or proceeding shall have been instituted by
any governmental authority, enjoining or preventing the
consummation of the
transactions contemplated hereby or in
the other Transaction Documents.

 

(d)
The Company shall have executed and delivered the Convertible Note
and supporting documentation.

 

(e)
The Company shall have executed and delivered the Irrevocable
Transfer Agent Instructions.

 

(f) No stop order or suspension of
trading shall have been imposed by the public markets on which the Company's common stock is
traded or quoted,
the SEC or any other governmental
or regulatory
body with respect to public
trading in the Common Stock.

 

6.2 Conditions
to Obligations of the Company. The Company's obligation to sell
and issue the Note at Closing is subject to
the fulfillment to the satisfaction of the Company on or
prior to the Closing Date of the following conditions, any
of which may be
waived by the
Company:

  

 

5

 

 

(a) The representations and warranties made by the
Investor in Section 5 hereof, other than the representations and
warranties contained in Sections 5.3, 5.4,
5.5, 5.6,
5.7, 5.8 and 5.9
(the "Investment Representations"), shall be
true and correct in all material respects when
made, and shall be true and correct in all material
respects on the Closing Date with the same force and
effect as if they had been made on and as of said date. The
Investment Representations shall be true and correct in all
respects when made,
and shall be true and correct in all
respects on the Closing Date with the same force and effect as if
they had been made on and as of said date. The Investor
shall have performed in all material respects all obligations and
conditions herein required to be performed or observed by them on
or prior to the Closing Date.

 

(b) The Investor shall
have delivered the Purchase Price to the Company in accordance with
the schedule outlined herein.

 

6.3
Termination of Obligations to Effect Closing; Effects.

 

(a) The obligations of the Company, on the one
hand, and the Investor, on the other
hand, to effect the Closing shall terminate as
follows:

 

(i) Upon the mutual written consent of the
Company and the Investor;

 

(ii) By the Company if
any of the conditions set forth in
Section 6.2 shall have become incapable of
fulfillment,
and shall not have been waived by
the Company;

 

(iii) By the Investor if any of the
conditions set forth in Section

 

6.1 shall have become
incapable of fulfillment, and shall
not have been waived by the Investor; or
provided, however, that,
except in the case of clause
(i) above, the party seeking to terminate its obligation to
effect the Closing shall not then be in breach of any of its
representations,
warranties, covenants or
agreements contained in this
Agreement or the other Transaction Documents if such breach
has resulted in the
circumstances giving rise to such party's seeing to
terminate its obligation to effect the Closing.

 

7.
Survival and Indemnification.

 

7. I Survival. The representations,
warranties, covenants and agreements contained in this
Agreement shall survive the Closing of the transactions
contemplated by this Agreement.

 

7.2 Indemnification. The Company agrees to
indemnify and hold harmless each Investor and its Affiliates and
their respective directors, officers, employees
and agents from and against any and all losses, claims, damages,
liabilities and expenses (including without limitation reasonable
attorney fees and disbursements and other expenses incurred in
connection with investigating, preparing or
defending any action, claim or proceeding, pending or threatened
and the costs of enforcement thereof)
(collectively,
"Losses") to which
such Person may become subject
as a result of any breach of representation, warranty, covenant
or agreement made by or to be performed on the part of the
Company under the Transaction Documents,
and will reimburse any such Person for aU such amounts
as they are incurred by such Person.

 

7.3 Conduct
of Indemnification Proceedings.
Promptly after receipt by any Person (the "Indemnified Person") of
notice of any
demand, claim or circumstances which
would or might give rise to a claim or
the commencement
of any action,
proceeding or investigation in respect
of which indemnity may be sought pursuant to Section
7.2, such Indemnified Person shall
promptly notify the
Company in writing and the Company shall assume the
defense thereof,
including the employment of
counsel reasonably satisfactory to such Indemnified
Person, and shall assume the payment of all fees and
expenses; provided, however,
that the failure of any
Indemnified Person so to notify the Company shall not relieve the Company of its
obligations hereunder except to the extent that the
Company is materially prejudiced by such failure to
notify. In any such proceeding, any Indemnified Person shall have the right to retain
its own counsel, but the fees and expenses of such counsel
shall be at the expense of such Indemnified Person
unless: (i) the Company and
the Indemnified Person shall have mutually agreed to the retention
of such counsel;or (ii)
in the reasonable judgment of
counsel to such Indemnified Person representation of both parties by the same counsel would be
inappropriate due to actual
or potential differing
interests between them. The
Company shall not be liable for
any settlement of any proceeding effected without its written consent, which
consent shall not be
unreasonably withheld, but if settled with such consent, or if
there be a final judgment for the
plaintiff, the Company shall
indemnify and hold harmless
such Indemnified Person from and against any loss or
liability (to the extent stated above) by reason
of such settlement or judgment.
Without the prior written consent of the
Indemnified Person,
which consent shall
not be unreasonably withheld, the Company
shall not affect any
settlement of
any pending or threatened proceeding
in respect of which any Indemnified Person is or could have been a
party and indemnity could have been sought hereunder by such
Indemnified Party, unless such settlement includes an unconditional
release of such Indemnified Person from all liability arising out
of such proceeding.

 

8.
Miscellaneous.

 

8.1 Successors and Assigns. This
Agreement may not be assigned by a party hereto
without the prior written consent of the Company
or the Investor, as applicable, provided,
however, that an Investor may assign its
rights and delegate its duties hereunder in whole or in part to
an Affiliate
or to a third party acquiring
some or all of its Securities in a private
transaction without the prior written consent of the
Company, after notice duly given by such Investor to the Company. The
provisions of this Agreement shall inure to
the benefit of
and be binding upon the respective
permitted successors and assigns of the
parties. Nothing in this Agreement, express or implied, is intended
to confer upon any party other than the parties hereto or their
respective successors and assigns any rights,
remedies, obligations, or liabilities under or by reason of this
Agreement, except as
expressly provided in
this Agreement.

  

 

6

 

  

8.2 Counterparts; This Agreement may be executed in
two or more counterparts, each of
which shall be
deemed an original, but
all of which together shall constitute one
and the same instrument.
This Agreement may also be executed
via facsimile,
which shall be deemed an
original.

 

8.3
Titles and Subtitles. The titles and subtitles used in this
Agreement are used for convenience only and are not to be
considered in construing or interpreting this
Agreement.

 

8.4 Notices. Unless otherwise provided, any notice
required or permitted under this Agreement shall be given in
writing and shall be deemed effectively given as hereinafter
described (i) if given by personal delivery, then such
notice shall be deemed given upon such delivery, (ii) if given by
fax, then such notice shall be deemed given upon receipt of
consummation of complete transmittal, (iii) if given by
mail, then such notice shall be deemed given upon the
earlier of (A) receipt of such notice by the recipient or
(B)
three days after such notice
is deposited in first class mail, postage
prepaid, and (iv) if given by an internationally recognized
overnight air courier, then such notice shall be deemed given one
business day after delivery to such carrier. All
notices shall be addressed to the
party to be notified at the address as follows, or at such other
address as such party may designate by ten days' advance written
notice to the other party:

 

If
to the Company:

 

Attn: ______
_

 

Fax: _______________ Tel: _______
__

 

If
to the Investor:

 

GHS Investments, LLC 420
Jericho Turnpike, Suite 207 Jericho, NY 11753

 

 

8.5 Expenses. The parties hereto shall pay their
own costs and expenses in connection herewith. In the event
that legal proceedings are commenced by any party to this
Agreement against another party to this Agreement in connection
with this Agreement or the other Transaction
Documents, the party or parties which do not prevail in such
proceedings shall severally, but not jointly, pay their pro rata
share of the reasonable attorneys' fees and other reasonable
out-of-pocket costs and expenses incurred by the prevailing party
in such proceedings.

 

8.6 Amendments and Waivers. Any term of this
Agreement may be amended and the observance of any term of this
Agreement may be waived (either generally or in a
particular instance and either
retroactively or prospectively), only with the written consent of
the Company and the Investor. Any amendment or waiver effected in
accordance with this paragraph shall be binding upon each holder of
any Securities purchased under this Agreement at the time
outstanding, each future holder of all such Securities, and the
Company.

 

8.7 Severability. Any provision of this Agreement
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 provisions hereof but shall be
interpreted as if
it were written so as to be enforceable to the
maximum extent permitted by applicable law, and any
such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any
other jurisdiction.
To the extent permitted by applicable
law, the parties hereby waive any provision of law which renders
any provision hereof prohibited or unenforceable in any
respect.

 

8.8
Entire Agreement. This Agreement, including the Exhibits and the
Disclosure Schedules, and the other Transaction Documents
constitute the entire agreement among the parties hereof with
respect to the subject matter hereof and thereof and supersede all
prior agreements and understandings, both oral and written, between
the parties with respect to the subject matter hereof and
thereof.

 

8.9 Further Assurances. The parties shall execute
and deliver all such further instruments and documents and take all such other actions as
may reasonably be required to carry out the transactions
contemplated hereby and to evidence the fulfillments of the
agreements herein contained.

 

8.10 Governing Law;Consent to
Jurisdiction; Waiver of Jury Trial. This Agreement shall
be governed by, and construed in accordance with, the
internal laws of the State of Nevada, without
regard to principles of conflicts of law. Each of the parties
hereto irrevocably
submit to the exclusive jurisdiction
of the state and federal courts sitting in New York City, New York
over any action or proceeding arising out of or relating
to this Agreement and the parties hereto
hereby irrevocably
agree that all claims in respect of
such action or proceeding may be heard and determined in such
court. The parties hereto agree 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. The parties hereto further waive any objection to
venue in the State of New York and any objection
to an action or proceeding in the State of New York
on the basis of forum non conveniens.

 

[signature page follows]

 

 

7

 

 

IN WITNESS WHEREOF, the parties
have executed this Agreement or caused their duly authorized
officers to execute this Agreement as of the date first above
written.

 

The Company:

/s/
Gene S. Cartwright

Gene
S. Cartwright

CEO

Guided
Therapeutics, Inc.

 

 

Investor:

 

/s/
Mark Grober

Mark
Grober

Title:
Member

GHS
Investments, LLC.

 

 

 

 

 

8

 

Disclosure Schedules/
Exhibits

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