Document:

Document

Exhibit 10.27
Heather L. Cohen
EVP Human Resources
Conmed Corporation
525 French Road
Utica, New York 13502
Direct Dial (315) 624-3215
                                                                                    December 28, 2020

Mr. Todd W. Garner
[Address on File]

Re:     Amended Employment Terms

Dear Todd:

           Please accept this letter as Amendment Number 1 to your January 2, 2018 Letter Agreement with CONMED Corporation (“Amendment”).  This Amendment will supplement and amend your January 2, 2018 Letter Agreement (the “CFO Letter Agreement”) to address certain matters relating to changes arising since the date of the CFO Letter Agreement in the manner in which CONMED has been operating since the date of the CFO Letter Agreement: namely, the manner in which CONMED has been operating since the date of the CFO Letter Agreement, and the change that, while CONMED was a New York corporation in 2018, CONMED is now a Delaware corporation as of the date of this Amendment.  The Amendment also reflects that the headquarters in 2018 were in Utica, New York, and as of the date of this Amendment are now in Largo, Florida. 

        Certain sections of the CFO Letter Agreement are hereby replaced and amended to read as follows:  

1.    Effective Date; Title.  Effective January 2, 2018 (“Effective Date”), you will be employed as the Executive Vice President & Chief Financial Officer, reporting to Curt Hartman, our President & CEO.  You will be an at-will employee for all purposes and as such, your employment may be terminated by the Company or by you at any time with or without prior notice.  Your principal place of employment will be at an office the Company will rent for you near your residence as the Company and you may agree as of the date of this Amendment and thereafter, and you will also have an office at the Company’s headquarters, which has been in Utica, New York through December 31, 2020, and shall be in Largo, Florida from January 1, 2021 and thereafter.

2.    Relocation: [Deleted as of the date of this Amendment.]

3.    Applicable Law; Choice of Forum.

a)    Excepting any claim for benefits under any employee benefit plan in which you are a participant (which claims shall be determined in accordance with the terms of such plan), to the fullest extent permitted by law, all claims that you may have against the Company or any other controversy arising under, or otherwise relating to, the terms of your employment with and services rendered by you to the Company shall be governed by, and construed exclusively in accordance with, the laws of the State of Delaware.  

b)    Any suit, action or other proceeding arising out of or relating to this the terms of your employment with and services rendered by you to the Company and brought by you under the CEO Letter Agreement including this Amendment shall be brought exclusively in the Delaware Court of Chancery in New Castle County, or in the event (but only in the event) that such court does not have subject matter jurisdiction over such action, the United States District Court for the District of Delaware, and each of the parties hereto hereby irrevocably submits to the jurisdiction of such courts for the purpose of any such suit, action or other proceeding. 

c)    The Company shall be free to bring any suit or claim relating to the enforcement of the terms of this Agreement in any court of competent jurisdiction.  

d)    THE PARTIES HEREBY WAIVE ANY RIGHTS THEY MAY HAVE TO TRIAL BY JURY, INCLUDING WITHOUT LIMITATION ANY RIGHT TO TRIAL BY JURY AS TO THE MAKING, EXISTENCE, VALIDITY, OR ENFORCEABILITY OF THIS AGREEMENT.

           All other provisions of the CFO Letter Agreement remain in full force and effect.  If you approve of this Amendment, please sign this letter where indicated below.

Sincerely,

                                                                            
/s/ Heather Cohen
Heather L. Cohen
Executive Vice President, Human Resources

AGREED AND ACCEPTED:

/s/Todd Garner                                                
Todd W. Garner

cc:      Curt R. Hartman
           Daniel S. Jonas, Esq.Exhibit
10.1

 

EXCHANGE
AGREEMENT

 

THIS
EXCHANGE AGREEMENT (the “Agreement”) is dated January 21, 2021, by and between Cinedigm Corp., a Delaware
corporation (the “Company”) and Wolverine Flagship Fund Trading Limited (the “Holder”).

 

RECITALS:

 

WHEREAS,
the Holder holds $1,289,650.37 principal amount (the “Notes”) of the Company’s second lien secured notes
(“Second Lien Notes”) pursuant to the Company’s Second Lien Loan Agreement dated as of July 14, 2016
among the Company, Cortland Capital Market Services LLC, as Agent (the “Agent”), and the lenders party thereto,
as amended to date (the “Second Lien Loan Agreement”), with accrued interest as set forth on Schedule A
attached hereto;

 

WHEREAS,
subject to the terms and conditions set forth in this Agreement, the Company and the Holder desire to exchange the Holder’s
Notes for, as set forth on Schedule A attached hereto, an aggregate of 1,247,626 shares (the “Shares”)
of Class A common stock of the Company, par value $0.001 per share (the “Common Stock”).

 

NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants and agreements contained herein, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Company and the Holder hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

1.1 Definitions.
In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings set forth in this Section
1.1:

 

“Affiliate”
has the meaning ascribed thereto in Rule 405 promulgated under the Securities Act.

 

“Agent”
has the meaning ascribed thereto in the recitals.

 

“Board
of Directors” means the board of directors of the Company.

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which banking institutions in the State of New York are authorized or required by law or other governmental action
to close.

 

“Certificate
of Incorporation” means the Company’s Fifth Amended and Restated Certificate of Incorporation, as amended to date.

 

“Closing”
means the closing of the Exchange pursuant to Article 2.

 

     

     

    

  

“Closing
Date” means the date of this Agreement, or such other date as is mutually agreed by the Company and the Holder.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” has the meaning ascribed thereto in the recitals.

 

“Company
2020 Balance Sheet” has the meaning ascribed thereto in Section 3.6.

 

“Company
Consolidated Financial Statements” has the meaning ascribed thereto in Section 3.6.

 

“Electronic
Delivery” has the meaning ascribed thereto in Section 6.2.

 

“Exchange”
means the exchange of the Notes for the Shares.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“GAAP”
has the meaning ascribed thereto in Section 3.6.

 

“Interest
Due” means, with respect to the Notes being exchanged by the Holder, the amount of accrued but unpaid PIK interest thereon,
accrued through the Closing Date.

 

“Material
Adverse Effect” means an event that results in or causes a material adverse change in any of (a) the condition (financial
or otherwise), business, performance, operations or property of the Company and its material subsidiaries, taken as a whole, (b)
the ability of any of the Company to perform its obligations under this Agreement or (c) the validity or enforceability of this
Agreement or the rights and remedies of the Holder.

 

“Notes”
has the meaning ascribed thereto in the recitals.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“SEC
Reports” has the meaning ascribed thereto in Section 3.6.

 

“Second
Lien Loan Agreement” has the meaning ascribed thereto in the recitals.

 

“Second
Lien Notes” has the meaning ascribed thereto in the recitals.

 

    2

     

    

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Shares”
has the meaning ascribed thereto in the recitals.

 

“Trading
Market” means the primary one of the following markets or exchanges on which the Common Stock is listed or quoted for
trading on the date in question: the New York Stock Exchange, NYSE MKT, the Nasdaq Global Market, the Nasdaq Capital Market, or
any other recognized exchange or automated quotation system (or any successors to any of the foregoing), and which is initially
the Nasdaq Global Market.

 

“Transfer
Agent” means American Stock Transfer & Trust Co., the current transfer agent of the Company, and any successor transfer
agent of the Company.

 

ARTICLE
II

EXCHANGE

 

2.1 The
Exchange. At the Closing of the Exchange contemplated hereby, the Holder shall surrender to the Agent the Notes in exchange
for the Shares. Upon the Closing Date that is mutually agreed upon by the parties, the Closing shall occur at the offices of the
Company’s counsel or such other location as the parties shall mutually agree. Effective upon the Closing, the Holder shall
have no further claim against the Company with respect to the Notes, and the Company shall have no further obligation to the Holder
with respect to the Notes, under the Second Lien Loan Agreement.

 

2.2 Interest
on Notes. The Interest Due shall be paid in Shares by including the Interest Due with the principal amount outstanding of
the Notes being surrendered when calculating the number Shares to be issued. The parties acknowledge that the cash interest accrued
through the Closing Date on the Notes will be paid by the Agent in accordance with ordinary payment procedures.

 

2.3 Closing
Deliveries.

 

(a) At
the Closing, the Company shall deliver or cause to be delivered to the Holder the following:

 

(i) this
Agreement duly executed by the Company; and

 

(ii) irrevocable
instructions to the Transfer Agent to effect a DWAC delivery of the Shares required to be issued under Section 2.1, to the account
of the Holder or its nominee as indicated by the Holder.

 

(b) At
the Closing, the Holder shall deliver or cause to be delivered to the Company, the following:

 

(i) this
Agreement duly executed by each Holder; and

 

(ii) irrevocable
instructions to the Agent with respect to the surrender of the Holder’s Notes.

 

    3

     

    

 

2.4 No
Additional Consideration. The Shares shall be issued to the Holder solely in exchange for the surrender of the Notes by the
Holder, and the Holder shall not pay or be required to pay any additional consideration to the Company in order to effectuate
the issuance of the Shares due to the Holder.

 

2.5 Extinguishment
of Notes. It is intended that, upon the consummation of the Exchange, the Notes surrendered hereunder shall be cancelled and
shall be null and void, and any and all rights arising thereunder shall be extinguished.

 

ARTICLE
III

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

As
a material inducement to the Holder to enter into this Agreement and consummate the Exchange, the Company represents, warrants
and covenants with and to the Holder as follows:

 

3.1 Authorization
and Binding Obligation. The Company has the requisite power and authority to enter into and perform its obligations under
this Agreement and to complete the Exchange, in accordance with the terms thereof. The execution and delivery of this Agreement
by the Company, and the consummation by the Company of the Exchange, have been duly authorized by all necessary corporate action
by the Company and no further consent or authorization is required. This Agreement has been duly executed and delivered by the
Company, and constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance
with their respective terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy,
insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of applicable
creditors’ rights and remedies and except as rights to indemnification and to contribution may be limited by federal or
state securities laws.

 

3.2 No
Conflict. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of
the Exchange will not (i) result in a violation of the Certificate of Incorporation, or other organizational document of the Company
or any of its subsidiaries, any capital stock of the Company or any of its subsidiaries or bylaws of the Company or any of its
subsidiaries, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become
a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, or any claims or entitlements
to the Shares (or other consideration) issuable to the Holder under this Agreement pursuant to, any agreement, indenture or instrument
to which the Company or any of its subsidiaries is a party, for which a waiver or consent has not been obtained and is currently
in effect, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including foreign, federal
and state securities laws) and 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, in the case of clause (ii) or (iii) above, to the extent such violations
that could not reasonably be expected to have a material adverse effect on the Company or its subsidiaries or on the ability to
consummate the transactions contemplated by this Agreement.

 

    4

     

    

  

3.3 Securities
Law Exemption. Assuming the accuracy of the representations and warranties of the Holder contained herein, the offer and issuance
by the Company of the Shares as contemplated by this Agreement are exempt from registration under the Securities Act pursuant
to Section 3(a)(9) thereunder. Rule 144(i) under the Securities Act does not apply to the Company, or the Company is otherwise
in full compliance with the tests and standards set forth in Rule 144(i)(2) as of the date of this Agreement.

 

3.4 Issuance
of Shares. Upon issuance of the Shares in accordance with the terms of this Agreement, the Shares will be validly issued,
fully paid and non-assessable and free from all taxes, liens, charges and other encumbrances (including, for the avoidance of
doubt, any claims or entitlements of others pursuant to the Second Lien Loan Agreement) and shall not be subject to any preemptive,
participation, rights of first refusal and other similar rights.

 

3.5 No
Integrated Offering. Except as contemplated by this Agreement and in connection with the exchange, if any, of Second Lien
Notes held by other holders thereof, the Company has not sold or issued, nor will sell or issue any securities that would be integrated
with the offering of the Shares contemplated by this Agreement pursuant to the Securities Act and the rules and regulations or
the interpretations thereunder of the Commission.

 

3.6 SEC
Reports; Financial Statements.

 

The
Company has timely filed, or cured any defect relating to timely filing, all registration statements, forms, reports, definitive
proxy statements, schedules and other documents and filings required to be filed by it under the Securities Act or the Exchange
Act, as the case may be (the “SEC Reports”) since January 1, 2020. None of the Company’s subsidiaries
is required to file periodic reports with the Commission pursuant to the Exchange Act. Each SEC Report (i) as of the time it was
filed (or if subsequently amended, when amended), complied in all material respects with the requirements of the Securities Act
or the Exchange Act, as the case may be, and (ii) did not, at the time it was filed (or if subsequently amended or superseded
by an amendment or other SEC Report, then, on the date of such subsequent filing), contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary in order to make the statements made therein,
in light of the circumstances under which they were made, not misleading.

 

The
Company’s consolidated financial statements (including, in each case, any notes thereto) contained in the Company’s
Annual Report on Form 10-K for the fiscal year ended March 31, 2020 (the “Company Consolidated Financial Statements”)
were prepared in accordance with generally accepted accounting principles as in effect in the United States of America (“GAAP”),
applied on a consistent basis throughout the periods indicated (except as may be indicated in the notes thereto or as may have
been required by regulatory accounting principles applicable to the Company or, in the case of interim consolidated financial
statements, where information and footnotes contained in such financial statements are not required to be in compliance with GAAP),
and in each case such Company Consolidated Financial Statements fairly presented, in all material respects, the consolidated financial
position, results of operations, cash flows and shareholders’ equity of the Company and its consolidated subsidiaries as
of the respective dates thereof and for the respective periods covered thereby (subject, in the case of unaudited financial statements,
to normal year-end adjustments which were not and which are not expected to be, individually or in the aggregate, material to
the Company and its consolidated subsidiaries taken as a whole).

 

    5

     

    

 

Except
as set forth in the SEC Reports, including without limitation, the risk factors contained therein, and except as and to the extent
set forth on the consolidated balance sheet of the Company as of March 31, 2020 (the “Company 2020 Balance Sheet”),
between March 31, 2020 and the date hereof neither the Company nor any of its consolidated subsidiaries has incurred any debts,
liabilities or obligations (whether accrued, absolute, contingent, liquidated or otherwise, whether due or to become due) of a
nature that would be required to be reflected on a balance sheet or in notes thereto prepared in accordance with GAAP consistently
applied, except for liabilities or obligations (i) that, in the aggregate, are adequately provided for in the Company 2020 Balance
Sheet, or (ii) incurred in the ordinary course of business between March 31, 2020 and the date hereof that would not, individually
or in the aggregate, have any material adverse effect on (x) the business, financial condition, results of operations or assets
of the Company and its subsidiaries taken as a whole, or (y) the ability of the Company to consummate the transactions contemplated
by this Agreement.

 

3.7 Exchange
Act Registration, Trading Market.

 

The
Common Stock is registered pursuant to Section 12(b) of the Exchange Act and is listed on the Trading Market, and other than as
disclosed in the SEC Reports, the Company has taken no action designed to, or likely to have the effect of, terminating the registration
of the Common Stock under the Exchange Act or delisting the Common Stock from the Trading Market, nor has the Company received
any notification that the Commission or the Trading Market is contemplating terminating such registration or listing.

 

3.8 Proceedings.
The Company knows of no proceedings relating to the Second Lien Notes that are pending or threatened before any court, arbitrator
or administrative or governmental body that would adversely affect the completion of the Exchange.

 

3.9 Absence
of Broker’s Fees. Neither the Company nor any of its officers or directors has retained or authorized any investment
banker, broker, finder or other intermediary to act on behalf of the Company or incurred any liability for any banker’s,
broker’s or finder’s fees or commissions in connection with the Exchange.

 

3.10 Offer
to Other Parties. Occurring on or about the date of this Agreement, the Company has extended an offer to the other lenders
party to the Second Lien Loan Agreement on substantially the same terms as those set forth in this Agreement.

 

    6

     

    

 

ARTICLE
IV

REPRESENTATIONS AND WARRANTIES OF the holder

 

As
a material inducement to the Company to enter into this Agreement and consummate the Exchange, the Holder represents, warrants
and covenants with and to the Company as follows:

 

4.1 Authorization
and Binding Obligation. The Holder has the requisite legal capacity, power and authority to enter into, and perform is obligations
under, this Agreement. Each of the execution, delivery and performance of this Agreement by the Holder, and the consummation by
the Holder of the Exchange, have been duly authorized by all requisite corporate action on the part of the Holder, as applicable,
and no further consent or authorization is required. This Agreement has been duly authorized, executed and delivered by such Holder,
and constitutes the legal, valid and binding obligations of such Holder, enforceable against such Holder in accordance with its
terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights
and remedies and except as rights to indemnification and to contribution may be limited by federal or state securities laws.

 

4.2 Beneficial
Owner.

 

(a) The
Holder owns, beneficially and of record, good and marketable title to Notes being exchanged pursuant to this Agreement, free and
clear of any taxes or encumbrances; and at the Closing, the Holder will surrender to the Agent, on behalf of the Company, good
and marketable title to such Notes in their entirety, free and clear of any security interests, liens, adverse claims, taxes or
encumbrances.

 

(b) The
Holder is not, and has not been for the preceding three months, an Affiliate of the Company. The Holder has beneficially owned
the Notes being exchanged pursuant to this Agreement, fully paid, for at least one year as of the date hereof.

 

4.3 Experience
of Investor. The Holder, either alone or together with its representatives, has such knowledge, sophistication and experience
in business and financial matters so as to be capable of evaluating the merits and risks of the Exchange, and has evaluated the
merits and risks thereof. Such Holder is able to bear the economic risk of an investment in the Shares and, at the present time,
is able to afford a complete loss of such investment. The Holder qualifies as an accredited investor as defined in Rule 501 of
the Securities Act and/or a qualified institutional buyer as defined in Rule 144A of the Securities Act.

 

4.4 Disclosure
of Information. The Holder has access to and has reviewed the Company’s SEC Reports, including the “Risk Factors”
contained therein. The Holder has had the opportunity 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 Shares.

 

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4.5 Restricted
Securities. The Holder understands that the Shares are characterized as “restricted securities” as that term is
defined under Rule 144 of the Securities Act and have not been registered under the Securities Act or any applicable state securities
law, and may not be resold without registration under the Securities Act or the existence of an exemption therefrom. The Holder
represents that it is familiar with Rule 144, as presently in effect, and understands the resale limitations imposed thereby and
by the Securities Act. The Holder agrees and acknowledges that, in connection with the transfer of any portion of, or all of,
the Shares, the Company may require the Holder to provide the Company an opinion of counsel selected by the Holder and reasonably
acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect
that such transfer does not require registration of such transferred Shares under the Securities Act.

 

4.6 Legends.
Except as set forth in Section 5.3 hereof, the Holder agrees to the imprinting of a legend on the Shares, or certificates evidencing
such securities, in substantially the following form:

 

THIS
SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF
WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

 

4.7 Proceedings.
The Holder knows of no proceedings relating to the Second Lien Notes that are pending or threatened before any court, arbitrator
or administrative or governmental body that would adversely affect the completion of the Exchange.

 

4.8 Tax
Consequences. The Holder acknowledges that the Exchange may involve tax consequences to such Holder, and that the contents
of this Agreement do not contain tax advice. The Holder acknowledges that it has not relied and will not rely upon the Company
or any other Holder with respect to any tax consequences related to the Exchange. The Holder assumes full responsibility for all
such consequences and for the preparation and filing of any tax returns and elections which may or must be filed in connection
with its beneficial ownership of the Notes or the Shares, or the Exchange.

 

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4.9 Absence
of Broker’s Fees. Neither the Holder nor any of its officers, directors, partners, managers, trustees or similar Persons
has retained or authorized any investment banker, broker, finder or other intermediary to act on behalf of the Holder or incurred
any liability for any banker’s, broker’s or finder’s fees or commissions in connection with the Exchange.

 

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

 

ARTICLE
V

COVENANTS AND OTHER AGREEMENTS

 

5.1 Holding
Period. For the purposes of Rule 144, the Company acknowledges that the Holder’s holding period of the Notes may be
tacked onto the holding period of the Shares, and the Company agrees not to take a position contrary to this Section 5.1.

 

5.2 Acceptance
of Holder’s Counsel’s Rule 144 Opinion. The Company covenants that it shall give specific authorization to the
Transfer Agent and its legal counsel that the Transfer Agent may accept a Holder’s legal counsel’s Rule 144 opinion
with regard to sale of the Shares, in accordance with and subject to the review process in the last sentence of this Section 5.2,
as long as such Holder holds any of the Shares; provided that the Transfer Agent shall be instructed to contact the Company for
approval of all opinions before giving effect to the removal of any restrictive legends therefrom. The Company shall be allowed
two (2) Business Days to review an opinion and if no objection is affirmatively raised then the Company’s approval shall
be deemed given.

 

5.3 Removal
of Restrictive Legends. Notwithstanding Section 4.6 hereof, Shares may be issued or reissued, as applicable, without a restrictive
legend as follows:

 

(a) the
Shares shall be issued at Closing, without any restrictive legend, based on the available tacking of the holding period under
Section 5.1 of the Notes, in reliance on representations made by the Holder in Section 4 hereof; and

 

(b) the
Holder represents that with respect to Shares, if the Holder subsequently becomes an Affiliate of the Company, the Holder will
submit any Shares then held by such Holder that are not at such time marked with a restrictive legend relating to transfers under
the Securities Act, to the Company for legending.

 

    9

     

    

 

ARTICLE
VI

MISCELLANEOUS

 

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

 

6.2 Counterparts;
Signatures. This Agreement may be executed simultaneously in two or more counterparts, including both counterparts that are
executed on paper and counterparts that are in the form of electronic records and are executed electronically, any one of which
need not contain the signatures of more than one party, but all such counterparts taken together will constitute one and the same
Agreement. This Agreement, to the extent delivered by means of a facsimile machine or electronic mail (any such delivery, an “Electronic
Delivery”), shall be treated in all manner and respects as an original agreement or instrument and shall be considered
to have the same binding legal effect as if it were the original signed version thereof delivered in person. No party hereto shall
raise the use of Electronic Delivery to deliver a signature or the fact that any signature or agreement or instrument was transmitted
or communicated through the use of Electronic Delivery as a defense to the formation of a contract, and each such party forever
waives any such defense, except to the extent such defense related to lack of authenticity. An electronic signature means any
electronic sound, symbol or process attached to or logically associated with a record and executed and adopted by a party with
the intent to sign such record, including facsimile or e-mail electronic signatures. The parties acknowledge and agree that electronic
records and electronic signatures, as well as facsimile signatures, may be used in connection with the execution of this Agreement
and any future agreement in connection with this Agreement and electronic signatures, facsimile signatures or signatures transmitted
by electronic mail in so-called pdf format shall be legal and binding and shall have the same full force and effect as if a paper
original of this Agreement or any future agreement in connection with this Agreement had been delivered and had been signed using
a handwritten signature. The parties (a) agree that an electronic signature, whether digital or encrypted, of a party to this
Agreement or to any future agreements in connection with this Agreement is intended to authenticate this writing and to have the
same force and effect as a manual signature, (b) intend to be bound by the signatures (whether original, facsimiled or electronic)
on any document sent or delivered by facsimile, electronic mail or other electronic means, (c) are aware that the other party(ies)
will rely on such signatures, and (d) waive any defenses to the enforcement of the terms of this Agreement and any future agreement
in connection with this Agreement based on the foregoing forms of signature. If this Agreement or any future agreement in connection
with this Agreement have been executed by electronic signature, all parties executing this Agreement are expressly consenting
under the Electronic Signatures in Global and National Commerce Act (“E-SIGN”), and Uniform Electronic Transactions
Act (“UETA”), that a signature by facsimile, email or other electronic means shall constitute an electronic signature
to an electronic record under both E-SIGN and UETA with respect to this specific transaction.

 

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

 

6.4 Severability.
If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity
or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s),
the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

6.5 Entire
Agreement; Amendments. This Agreement supersedes all other prior oral or written agreements between the Holder, the Company,
their affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement contains
the entire understanding of the parties with respect to the matters covered herein and, except as specifically set forth herein,
neither the Company nor any Holder makes any representation, warranty, covenant or undertaking with respect to such matters. No
provision of this Agreement may be amended other than by an instrument in writing signed by the Parties, and any amendment to
this Agreement made in conformity with the provisions of this Section shall be binding upon the parties. No provision hereof may
be waived other than by an instrument in writing signed by the party against whom enforcement is sought.

 

6.6 Survival.
The representations and warranties contained herein shall survive the Closing and the delivery of the Shares.

 

6.7 Notices.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when
sent by facsimile or email (provided confirmation of transmission is mechanically or electronically generated and kept on file
by the sending party); or (iii) one (1) Business Day after deposit with an overnight courier service, in each case properly addressed
to the party to receive the same. The addresses for such communications shall be:

 

If
to the Company:

 

Cinedigm
Corp.

237
West 35th Street, Suite 605

New
York, NY 10001

Telephone:
(212) 206-8600

Facsimile:
(212) 598-4895

Attention:
General Counsel

Email:
gloffredo@cinedigm.com

 

    11

     

    

 

With
a copy to:

 

Kelley
Drye & Warren LLP

101
Park Avenue

New
York, New York 10178

Telephone:
(212) 808-7800

Facsimile:
(212) 808-7897

Attention:
Jonathan K. Cooperman, Esq.

Email:jcooperman@kelleydrye.com

 

If
to a Holder, to the address set forth for such Holder on such Holder’s signature page.

 

6.8 Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors
and assigns. The Company shall not assign this Agreement or any rights or obligations hereunder without the prior written consent
of a majority of the Holder. No Holder may assign this Agreement or any rights or obligations hereunder without the consent of
the Company.

 

6.9 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. No specific representation or warranty shall limit the generality
or applicability of a more general representation or warranty.

 

For
purposes of this Agreement, whenever the context requires: the singular number shall include the plural, and vice versa; the masculine
gender shall include the feminine and neutral genders; the feminine gender shall include the masculine and neutral genders; and
the neutral gender shall include the masculine and feminine genders.

 

Each
and every reference to share prices and shares of Common Stock in this Agreement shall be subject to adjustment for reverse and
forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after
the date of this Agreement.

 

[signature
pages follow]

 

    12

     

    

 

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

 

	 	COMPANY:
	 	 	 
	 	CINEDIGM CORP.
	 	 
	 	By:	/s/
    Gary S. Loffredo
	 	 	Name:   	Gary S. Loffredo 
	 	 	Title:	President, Chief Operating Officer, General
    Counsel and Secretary

 

[Signature
Page to Exchange Agreement]

 

     

     

    

 

	 	HOLDER:
	 	 	 
	 	Wolverine Flagship Fund Trading Limited
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Kenneth L. Nadel
	 	 	Name:  	Kenneth L. Nadel
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	 	 	 
	 	 	Address:
	 	 	c/o Wolverine Asset Management, LLC  
	 	 	175 W. Jackson Blvd, Suite 40  
	 	 	Chicago, IL 60604

 

For
Issuance of Shares:

 

Registered
Name: Wolverine Flagship Fund Trading Limited

 

Address:

175
W. Jackson Blvd

Suite
340

Chicago,
IL 60604

 

Federal
Tax ID/SSN: 98-0383545

 

[Signature
Page to Exchange Agreement]

 

     

     

    

 

SCHEDULE
A

 

	 
Holder
	 	Principal Amount of Second Lien Notes to be surrendered	 	 	Accrued and unpaid Interest Due	 	 	Total Number of Shares to be Issued	 
	Wolverine Flagship Fund Trading Limited	 	$	1,289,650.37	 	 	$	4,137.63	 	 	 	1,247,626

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