Document:

Exhibit 4.2

 

Execution Version

 

NEITHER THE ISSUANCE AND SALE OF THE
SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH 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 EXCEPT PURSUANT TO (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT OF 1933, AS AMENDED, AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION
OF COUNSEL TO THE HOLDER OR THE COMPANY TO SUCH EFFECT, , THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.
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. ANY TRANSFEREE OF THESE SECURITIES SHOULD CAREFULLY REVIEW THE TERMS HEREIN. THE NUMBER
OF SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY BE LESS THAN THE AMOUNTS SET FORTH ON THE FACE HEREOF PURSUANT
TO SECTION 1(a) OF THIS WARRANT.

 

ICAGEN, INC.

 

Second Amended and Restated Warrant To
Purchase Common Stock

 

Warrant No.: ICGI-GPB-2

 Supersedes and Replaces Warrant No. ICGI-GPB-1

Original Issuance Date: May 15, 2017 (“Issuance
Date”)

 

Icagen, Inc., a Delaware
corporation (the “Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, GPB Debt Holdings II, LLC, the registered holder hereof or its permitted assigns (the “Holder”),
is entitled, subject to the terms set forth below, to purchase from the Company, at the Exercise Price (as defined below) then
in effect, upon exercise of this Amended and Restated Warrant to Purchase Common Stock (including any Warrants to Purchase Common
Stock issued in exchange, transfer or replacement hereof, the “Warrant”), at any time or times on or after the
Issuance Date, but not after 11:59 p.m., New York time, on the Expiration Date (as defined below), 857,143 (subject
to adjustment as provided herein) fully paid and non-assessable shares of Common Stock (as defined below) (the “Warrant
Shares”, and such number of Warrant Shares, the “Warrant Number”). Except as otherwise defined herein,
capitalized terms in this Warrant shall have the meanings set forth in Section 17. This Warrant was issued pursuant to Section
1 of that certain Securities Purchase Agreement, dated as of May 15, 2017 (the “Subscription Date”), by
and among the Company, Icagen-T, Inc., a Delaware corporation, and the Holder, as amended from time to time (the “Securities
Purchase Agreement”). This Warrant is an amendment and restatement of and supersedes in its entirety effective as of
May 15, 2017, that certain Warrant to Purchase Common Stock (Warrant ICGI-GPB-1) dated May 15, 2017 (the “Original Warrant”),
issued by the Company to the Holder, which Original Warrant, as amended on April 13, 2018 is hereby cancelled.

 

     

     

    

 

1. EXERCISE
OF WARRANT.

 

(a) Mechanics of
Exercise. Subject to the terms and conditions hereof (including, without limitation, the limitations set forth in Section
1(f)), this Warrant may be exercised by the Holder on any day on or after the Issuance Date (an “Exercise Date”),
in whole or in part, by delivery (whether via facsimile or otherwise) of a written notice, in the form attached hereto as Exhibit
A (the “Exercise Notice”), of the Holder’s election to exercise this Warrant. Within one (1) Trading
Day following an exercise of this Warrant as aforesaid, the Holder shall deliver payment to the Company of an amount equal to the
Exercise Price in effect on the date of such exercise multiplied by the number of Warrant Shares as to which this Warrant was so
exercised (the “Aggregate Exercise Price”) in cash, check or via wire transfer of immediately available funds
if the Holder did not notify the Company in such Exercise Notice that such exercise was made pursuant to a Cashless Exercise (as
defined in Section 1(d)). The Holder shall not be required to deliver the original of this Warrant in order to effect an
exercise hereunder. Execution and delivery of an Exercise Notice with respect to less than all of the Warrant Shares shall have
the same effect as cancellation of the original of this Warrant and issuance of a new Warrant evidencing the right to purchase
the remaining number of Warrant Shares. Execution and delivery of an Exercise Notice for all of the then-remaining Warrant Shares
shall have the same effect as cancellation of the original of this Warrant after delivery of the Warrant Shares in accordance with
the terms hereof. On or before the first (1st) Trading Day following the date on which the Company has received an Exercise Notice,
the Company shall transmit by facsimile or electronic mail an acknowledgment of confirmation of receipt of such Exercise Notice,
in the form attached hereto as Exhibit B, to the Holder and the Company’s transfer agent (the “Transfer
Agent”), which confirmation shall constitute an instruction to the Transfer Agent to process such Exercise Notice in
accordance with the terms herein. On or before the third (3rd) Trading Day following the date on which the Company has
received such Exercise Notice (or such earlier date as required pursuant to the 1934 Act or other applicable law, rule or regulation
for the settlement of a trade of such Warrant Shares initiated on the applicable Exercise Date), (the “Share Delivery
Date”), the Company shall; provided that the Aggregate Exercise Price has been delivered in the time period set forth
above, unless the Aggregate Exercise Price is paid through a cashless exercise (X) provided that the Transfer Agent is participating
in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program, credit such aggregate number
of shares of Common Stock to which the Holder’s or its designee’s balance account with DTC through its Deposit/Withdrawal
at Custodian system, or (Y) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, upon
the request of the Holder, issue and deliver (via reputable overnight courier) to the address as specified in the Exercise Notice,
a certificate, registered in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder
shall be entitled pursuant to such exercise. Upon delivery of an Exercise Notice, the Holder shall be deemed for all corporate
purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective
of the date such Warrant Shares are credited to the Holder’s DTC account or the date of delivery of the certificates evidencing
such Warrant Shares (as the case may be). If this Warrant is submitted in connection with any exercise pursuant to this Section
1(a) and the number of Warrant Shares represented by this Warrant submitted for exercise is greater than the number of Warrant
Shares being acquired upon an exercise and upon surrender of this Warrant to the Company by the Holder, then, at the request of
the Holder, the Company shall as soon as practicable and in no event later than three (3) Business Days after any exercise and
at its own expense, issue and deliver to the Holder (or its designee) a new Warrant (in accordance with Section 7(d)) representing
the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the
number of Warrant Shares with respect to which this Warrant is exercised. No fractional shares of Common Stock are to be issued
upon the exercise of this Warrant, but rather the number of shares of Common Stock to be issued shall be rounded up to the nearest
whole number. The Company shall pay any and all transfer, stamp, issuance and similar taxes, costs and expenses (including, without
limitation, fees and expenses of the Transfer Agent) that may be payable with respect to the issuance and delivery of Warrant Shares
upon exercise of this Warrant.

 

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(b) Exercise Price.
For purposes of this Warrant, “Exercise Price” means $3.50, subject to adjustment as provided herein.

 

(c) Company’s
Failure to Timely Deliver Securities. If the Company fails on or prior to the Share Delivery Deadline to issue and deliver
to the Holder (or its designee) a certificate and register such shares of Common Stock on the Company’s share register or,
credit the balance account of the Holder or the Holder’s designee with DTC for the number of shares of Common Stock to which
the Holder is entitled upon the Holder’s exercise hereunder (as the case may be pursuant to this Section 1(c) and/or
pursuant to the Company’s obligation pursuant to clause (ii) below) and if on or after such Share Delivery Deadline the Holder
purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder
of all or any portion of the number of shares of Common Stock issuable upon such exercise that the Holder anticipated receiving
from the Company (a “Buy-In”), then, in addition to all other remedies available to the Holder, the Company
shall, within three (3) Business Days after the Holder’s request and in the Holder’s discretion, either (i) pay cash
to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions and other out-of-pocket
expenses, if any) for the shares of Common Stock so purchased (including, without limitation, by any other Person in respect, or
on behalf, of the Holder) (the “Buy-In Price”), at which point the Company’s obligation to so issue and
deliver such certificate (and to issue such shares of Common Stock) or credit the balance account of such Holder or such Holder’s
designee, as applicable, with DTC for the number of Warrant Shares to which the Holder is entitled upon the Holder’s exercise
hereunder (as the case may be) (and to issue such Warrant Shares) shall terminate, or (ii) promptly honor its obligation to so
issue and deliver to the Holder a certificate or certificates representing such Warrant Shares or credit the balance account of
such Holder or such Holder’s designee, as applicable, with DTC for the number of Warrant Shares to which the Holder is entitled
upon the Holder’s exercise hereunder (as the case may be) and pay cash to the Holder in an amount equal to the excess (if
any) of the Buy-In Price over the product of (A) such number of Warrant Shares multiplied by (B) the lowest Closing Sale Price
or Closing Bid Price (as the case may be) of the Common Stock on any Trading Day during the period commencing on the date of the
applicable Exercise Notice and ending on the date of such issuance and payment under this clause (ii) (the “Buy-In Payment
Amount”). Nothing shall limit the Holder’s right to pursue any other remedies available to it hereunder, at law
or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s
failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver such shares of Common
Stock) upon the exercise of this Warrant as required pursuant to the terms hereof.

 

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(d) Cashless Exercise.
If the Company is a Trading Issuer and at the applicable time an effective registration statement is not available for the issuance
of Warrant Shares and notwithstanding anything contained herein to the contrary (other than Section 1(f) below), the Holder
may, in its sole discretion, exercise this Warrant in whole or in part and, in lieu of making the cash payment otherwise contemplated
to be made to the Company upon such exercise in payment of the Aggregate Exercise Price, elect instead to receive upon such exercise
the “Net Number” of Warrant Shares determined according to the following formula (a “Cashless Exercise”):

 

Net Number = (A x B) - (A x C)

D

 

For purposes of the
foregoing formula:

 

A= the total number of shares
with respect to which this Warrant is then being exercised.

 

B = the lowest Closing Bid Price
or Closing Sale Price (as the case may be) during the ten (10) consecutive Trading Days ending at the close of business on the
Principal Market immediately prior to the time of exercise as set forth in the applicable Exercise Notice.

 

C = the Exercise Price then in
effect for the applicable Warrant Shares at the time of such exercise.

 

D = as applicable: the Closing
Sale Price or Closing Bid Price (as the case may be) of the Common Stock on the Trading Day immediately preceding the date of the
applicable Exercise Notice.

 

For purposes of Rule
144(d) promulgated under the 1933 Act, as in effect on the Subscription Date, it is intended that the Warrant Shares issued in
a Cashless Exercise shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be
deemed to have commenced, on the date this Warrant was originally issued pursuant to the Securities Purchase Agreement.

 

(e) Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the number of Warrant Shares
to be issued pursuant to the terms hereof, the Company shall promptly issue to the Holder the number of Warrant Shares that are
not disputed and resolve such dispute in accordance with Section 13.

 

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(f) Limitations
on Exercises. The Company shall not effect the exercise of any portion of this Warrant, and the Holder shall not have the right
to exercise any portion of this Warrant, pursuant to the terms and conditions of this Warrant and any such exercise shall be null
and void and treated as if never made, to the extent that after giving effect to such exercise, the Holder together with the other
Attribution Parties collectively would beneficially own in excess of 4.99% (the “Maximum Percentage”) of the
shares of Common Stock outstanding immediately after giving effect to such exercise, such determination by the Company to be based
solely upon the Reported Outstanding Share Number (as defined below) and the number of shares disclosed to the Company by Holder
as being beneficially owned by the Holder and the other Attribution Parties. For purposes of the foregoing sentence, the aggregate
number of shares of Common Stock beneficially owned by the Holder and the other Attribution Parties shall include the number of
shares of Common Stock held by the Holder and all other Attribution Parties plus the number of shares of Common Stock issuable
upon exercise of this Warrant with respect to which the determination of such sentence is being made, but shall exclude shares
of Common Stock which would be issuable upon (A) exercise of the remaining, unexercised portion of this Warrant beneficially owned
by the Holder or any of the other Attribution Parties and (B) exercise or conversion of the unexercised or unconverted portion
of any other securities of the Company (including, without limitation, any convertible notes or convertible preferred stock or
warrants, including, without limitation, the Warrant) beneficially owned by the Holder or any other Attribution Party subject to
a limitation on conversion or exercise analogous to the limitation contained in this Section 1(f)(i). For purposes of this
Section 1(f)(i), beneficial ownership shall be calculated in accordance with Section 13(d) of the 1934 Act. For purposes
of determining the number of outstanding shares of Common Stock the Holder may acquire upon the exercise of this Warrant without
exceeding the Maximum Percentage, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (x) the
Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public
filing with the SEC, as the case may be, (y) a more recent public announcement by the Company or (z) any other written notice by
the Company or the Transfer Agent, if any, setting forth the number of shares of Common Stock outstanding (the “Reported
Outstanding Share Number”). If the Company receives an Exercise Notice from the Holder at a time when the actual number
of outstanding shares of Common Stock is less than the Reported Outstanding Share Number, the Company shall (i) notify the Holder
in writing of the number of shares of Common Stock then outstanding and, to the extent that such Exercise Notice would otherwise
cause the Holder’s beneficial ownership, as determined pursuant to this Section 1(f)(i), to exceed the Maximum Percentage,
the Holder must notify the Company of a reduced number of Warrant Shares to be acquired pursuant to such Exercise Notice (the number
of shares by which such purchase is reduced, the “Reduction Shares”) and (ii) as soon as reasonably practicable,
the Company shall return to the Holder any exercise price paid by the Holder for the Reduction Shares. For any reason at any time,
upon the written or oral request of the Holder, the Company shall within one (1) Business Day confirm orally and in writing or
by electronic mail to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding
shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including
this Warrant, by the Holder and any other Attribution Party since the date as of which the Reported Outstanding Share Number was
reported. In the event that the issuance of shares of Common Stock to the Holder upon exercise of this Warrant results in the Holder
and the other Attribution Parties being deemed to beneficially own, in the aggregate, more than the Maximum Percentage of the number
of outstanding shares of Common Stock (as determined under Section 13(d) of the 1934 Act), the number of shares so issued by which
the Holder’s and the other Attribution Parties’ aggregate beneficial ownership exceeds the Maximum Percentage (the
“Excess Shares”) shall be deemed null and void and shall be cancelled ab initio, and the Holder shall
not have the power to vote or to transfer the Excess Shares. As soon as reasonably practicable after the issuance of the Excess
Shares has been deemed null and void, the Company shall return to the Holder the exercise price paid by the Holder for the Excess
Shares. Upon delivery of a written notice to the Company, the Holder may from time to time increase (with such increase not effective
until the sixty-first (61st) day after delivery of such notice) or decrease the Maximum Percentage to any other percentage not
in excess of 9.99% as specified in such notice; provided that any such increase in the Maximum Percentage will not be effective
until the sixty-first (61st) day after such notice is delivered to the Company. For purposes of clarity, the shares of Common Stock
issuable pursuant to the terms of this Warrant in excess of the Maximum Percentage shall not be deemed to be beneficially owned
by the Holder for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the 1934 Act. No prior inability to
exercise this Warrant pursuant to this paragraph shall have any effect on the applicability of the provisions of this paragraph
with respect to any subsequent determination of exercisability. The provisions of this paragraph shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this Section 1(f)(i) to the extent necessary to correct
this paragraph or any portion of this paragraph which may be defective or inconsistent with the intended beneficial ownership limitation
contained in this Section 1(f)(i) or to make changes or supplements necessary or desirable to properly give effect to such
limitation. The limitation contained in this paragraph may not be waived and shall apply to a successor holder of this Warrant.

 

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(g) Reservation
of Shares.

 

(i) Required Reserve Amount.
Commencing on the Closing Date and continuing as long as this Warrant remains outstanding (the “Share Reserve Period”),
the Company shall at all times keep reserved for issuance under this Warrant at least 200% of the maximum number of shares of Common
Stock as shall from time to time be necessary to satisfy the Company’s obligation to issue shares of Common Stock under this
Warrant (without regard to any limitations on exercise and assuming for purposes of this Section 1(g) that the Holder does
not exercise any portion of this Warrant on a Cashless Basis and in any event does not exercise this Warrant until the last calendar
date prior to the Expiration Date)  (the “Required Reserve Amount”); provided that at no time shall the
number of shares of Common Stock reserved pursuant to this Section 1(g)(i) be reduced.

 

(ii) Insufficient Authorized
Shares. If, notwithstanding Section 1(g)(i) above, and not in limitation thereof, at any time while this Warrants remains
outstanding, the Company does not have a sufficient number of authorized and unreserved shares of Common Stock to satisfy its obligation
to reserve the Required Reserve Amount (an “Authorized Share Failure”), then the Company shall immediately take
all action necessary to increase the Company’s authorized shares of Common Stock to an amount sufficient to allow the Company
to reserve the Required Reserve Amount for this Warrant. Without limiting the generality of the foregoing sentence, as soon as
practicable after the date of the occurrence of an Authorized Share Failure, but in no event later than ninety (90) days after
the occurrence of such Authorized Share Failure, the Company shall either (i) hold a meeting of its stockholders for the approval
of an increase in the number of authorized shares of Common Stock, or (ii) have cured the Authorized Share Failure by, among other
required items, obtaining a written consent of the required percentage of holders of shares Common Stock for the required increase
in authorized shares and had taken any and all other such action necessary to rectify the Authorized Share Failure including, but
not limited to, providing the non-consenting stockholders with an information statement and a Form 14(C) and filed with the SEC
such Form 14(C). In connection with such meeting as set forth in (i) above, the Company shall provide each stockholder with a proxy
statement and shall use its best efforts to solicit its stockholders’ approval of such increase in authorized shares of Common
Stock and to cause its board of directors to recommend to the stockholders that they approve such proposal. In the event that the
Company is prohibited from issuing shares of Common Stock upon an exercise of this Warrant due to the failure by the Company to
have sufficient shares of Common Stock available out of the authorized but unissued shares of Common Stock (such unavailable number
of shares of Common Stock, the “Authorization Failure Shares”), in lieu of delivering such Authorization Failure
Shares to the Holder, the Company shall pay cash in exchange for the cancellation of such portion of this Warrant exercisable into
such Authorized Failure Shares at a price equal to the sum of (i) the product of (x) such number of Authorization Failure Shares
and (y) the greatest Closing Sale Price or Closing Bid Price (as the case may be) of the Common Stock on any Trading Day during
the period commencing on the date the Holder delivers the applicable Exercise Notice with respect to such Authorization Failure
Shares to the Company and ending on the date of such issuance and payment under this Section 1(g) (or the Exercise Price
if the Company is not then a Trading Issuer); and (ii) to the extent the Holder purchases (in an open market transaction or otherwise)
shares of Common Stock to deliver in satisfaction of a sale by the Holder of Authorization Failure Shares, any Buy-In Payment Amount,
brokerage commissions and other out-of-pocket expenses, if any, of the Holder incurred in connection therewith. Nothing contained
in this Section 1(g) shall limit any obligations of the Company under any provision of the Securities Purchase Agreement.

 

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2. ADJUSTMENT OF EXERCISE PRICE AND
NUMBER OF WARRANT SHARES; RESET OF EXERCISE PRICE. The Exercise Price and number of Warrant Shares issuable upon exercise of
this Warrant are subject to adjustment from time to time as set forth in this Section 2.

 

(a) Stock Dividends
and Splits. Without limiting any provision of Section 2(b) or Section 4, if the Company, at any time on or after
the Subscription Date, (i) pays a stock dividend on one or more classes of its then outstanding shares of Common Stock or otherwise
makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides (by any stock split,
stock dividend, recapitalization or otherwise) one or more classes of its then outstanding shares of Common Stock into a larger
number of shares or (iii) combines (by combination, reverse stock split or otherwise) one or more classes of its then outstanding
shares of Common Stock into a smaller number of shares, then in each such case the Exercise Price shall be multiplied by a fraction
of which the numerator shall be the number of shares of Common Stock outstanding immediately before such event and of which the
denominator shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant
to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders
entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of this paragraph shall
become effective immediately after the effective date of such subdivision or combination. If any event requiring an adjustment
under this paragraph occurs during the period that an Exercise Price is calculated hereunder, then the calculation of such Exercise
Price shall be adjusted appropriately to reflect such event.

 

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(b) Adjustment
Upon Issuance of Shares of Common Stock Prior to the Closing Date of a Qualifying PO. In addition to and not in limitation
of any other rights of the Holder under this Warrant including, but not limited to, Section 2 hereof and/or any other Transaction
Document, if, at any time while this Note is outstanding and whenever on or after the Subscription Date but prior to the closing
date of a Qualifying PO (as defined below), the Company, the Parent and/or any Subsidiary (as defined in the Securities Purchase
Agreement), in any manner sells or grants any option to purchase, issues or sells or grants any right to reprice, and/or otherwise
sells, disposes of and/or issues any shares of Common Stock or Common Stock Equivalents (as defined below) (including upon conversion,
exercise or otherwise) entitling any Person to acquire shares of Common Stock at a price per share of Common Stock that is lower
than the then Exercise Price (such lower price, the “New Issuance Price” and each such issuance, a “Dilutive
Issuance” and collectively, “Dilutive Issuances”), (if the holder of shares of Common Stock or Common
Stock Equivalents so issued and/or any holder of Common Stock and/or Common Stock Equivalents as of the Subscription Date or issued
subsequent thereto, shall at any time, whether by amendment, supplement, operation of purchase price adjustments, reset provisions,
floating conversion, exercise or exchange prices or otherwise be entitled under the terms of any such instruments to receive shares
of Common Stock at a price per share that is lower than the Exercise Price, such issuance shall be deemed to have occurred for
less than the Exercise Price on such date of the Dilutive Issuance), then the then Exercise Price shall be reduced to equal the
New Issuance Price.  For purposes of clarification, if the Company, the Parent and/or any Subsidiary issues, sells and/or
otherwise disposes of any shares of Common Stock at a price less than the then Exercise Price, the then Exercise Price shall immediately
be reduced to the New Issuance Price on the date of such Dilutive Issuance. All adjustments provided for in this Section 2(b)
shall be made whenever any such Common Stock or Common Stock Equivalents are issued. Notwithstanding anything to the contrary in
the foregoing, if a Dilutive Issuance consists of the issuance and/or sale of both Common Stock and Common Stock Equivalents or
two or more Common Stock Equivalents as units (each, a “Share and/or a CSE Issuance”), in determining the value
of the component parts of the unit issued and/or sold in a Share and/or a CSE Issuance no value will be attributed to Common Stock
Equivalents and the New Issuance Price as a result thereof will be the lowest of (i) the lowest purchase price per unit, (ii) the
lowest conversion, exercise and/or exchange price to acquire one (1) share of Common Stock of any Common Stock Equivalent included
in a unit if a unit also includes shares of Common Stock, and (iii) if no shares of Common Stock are included in a unit, the lowest
exercise, conversion and/or exchange price to acquire one (1) share of Common Stock of the Common Stock Equivalents comprising
a unit, such lowest price of (i)-(iii) shall be the “Lowest Price;” provided, however, a Dilutive
Issuance and a resulting New Issuance Price relating to a Share and/or a CSE Issuance shall only occur if the Lowest Price relating
to a Share and/or a CSE Issuance is lower than the then Exercise Price. Notwithstanding the foregoing, no adjustment will be made
under this Section 2(b) in respect of an Exempt Issuance.   The Company shall notify the Holder in writing, no later
than the first Trading Day following the issuance of any Common Stock or Common Stock Equivalents subject to this Section 2(b),
indicating therein the applicable Lowest Price, issuance price, reset price, exchange price, conversion price and Exercise Price
and other pricing terms (such notice, the “Dilutive Issuance Notice”). For purposes of clarification, whether
or not the Parent provides a Dilutive Issuance Notice upon the occurrence of any Dilutive Issuance, the Holder is entitled to receive
a number of shares of Common Stock based upon the New Issuance Price on or after the date of such Dilutive Issuance, regardless
of whether the Holder accurately refers to the New Issuance Price in any Exercise Notice. For purposes hereof, the term “Common
Stock Equivalents” means any securities (as defined under the 1933 Act) including, but not limited to, any Options and/or
Convertible Securities of the Company, the Parent and/or any Subsidiaries which would entitle the Holder thereof to acquire at
any time shares of Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the Holder thereof to receive, shares
of Parent Common Stock. If the Parent, the Company and/or any Subsidiary enters into a Variable Rate
Transaction (as defined in the Securities Purchase Agreement) despite the prohibition set forth in the Securities Purchase Agreement,
the Parent shall be deemed to have issued shares of Common Stock or Common Stock Equivalents at the lowest possible price at which
such securities may be converted, exchanged and/or exercised under the terms of such Variable Rate Transaction.

 

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(c) Calculations.
All calculations under this Section 2 shall be made by rounding to the nearest cent or the nearest 1/100th of a share, as
applicable. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for
the account of the Company, and the disposition of any such shares shall be considered an issuance or sale of Common Stock.

 

(d) Voluntary Adjustment
By Company. The Company may at any time during the term of this Warrant, with the prior written consent of the Holders, reduce
the then current Exercise Price to any amount and for any period of time deemed appropriate by the board of directors of the Company.

 

(e) Certain Reset
Right Upon a Qualifying PO. If on or after the Subscription Date, the Company consummates a Qualifying PO, and on the
closing date of such Qualifying PO, the then Exercise Price in effect on such date is greater than the Qualifying PO Per Share
Sale Price (as defined below), then the Exercise Price shall automatically and without any action by the Company or otherwise,
be reset to the Qualifying PO Per Share Sale Price.  A “Qualifying PO Per Share Sale Price” shall
be as applicable (i) the gross purchase price a share of Common Stock is sold to the public in the Qualifying PO if only shares
of Common Stock are sold to the public in such Qualifying PO, (ii) the gross purchase price a unit consisting of shares of Common
Stock and Common Stock Equivalents is sold to the public in the Qualifying PO, or (iii) the sum equal to the gross purchase price
of (a) one (1) share of Common Stock, and (b) a Common Stock Equivalent if such are sold to each purchaser in a Qualifying PO but
not in a unit.

 

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3. RIGHTS UPON DISTRIBUTION OF ASSETS.
In addition to any adjustments provided for elsewhere in this Warrant including, but not limited to, pursuant to Section 2
above, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets)
to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution
of cash, stock or other securities, property, options, evidence of indebtedness or any other assets by way of a dividend, spin
off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall to be entitled to participate in such
Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of
Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations or restrictions on exercise of
this Warrant, including without limitation, the Maximum Percentage) immediately before the date on which a record is taken for
such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be
determined for the participation in such Distribution (provided, however, that to the extent that the Holder’s right to participate
in any such Distribution would result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, then the
Holder shall not be entitled to participate in such Distribution to such extent (and shall not be entitled to beneficial ownership
of such shares of Common Stock as a result of such Distribution (and beneficial ownership) to such extent) and the portion of such
Distribution shall be held in abeyance for the benefit of the Holder until such time or times, if ever, as its right thereto would
not result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, at which time or times the Holder
shall be granted such Distribution (and any Distributions declared or made on such initial Distribution or on any subsequent Distribution
held similarly in abeyance) to the same extent as if there had been no such limitation).

 

4. PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS.

 

(a) Purchase Rights.
In addition to any adjustments provided for elsewhere in this Warrant including, but not limited to, pursuant to Section 2
above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants,
securities or other property pro rata to the record holders of any class of Common Stock (the “Purchase Rights”),
 then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights , the aggregate Purchase Rights
which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise
of this Warrant (without regard to any limitations or restrictions on exercise of this Warrant, including without limitation, the
Maximum Percentage) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights,
or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the
grant, issuance or sale of such Purchase Rights (provided, however, that to the extent that the Holder’s right to participate
in any such Purchase Right would result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, then
the Holder shall not be entitled to participate in such Purchase Right to such extent (and shall not be entitled to beneficial
ownership of such shares of Common Stock as a result of such Purchase Right (and beneficial ownership) to such extent) and such
Purchase Right to such extent shall be held in abeyance for the benefit of the Holder until such time or times, if ever, as its
right thereto would not result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, at which time
or times the Holder shall be granted such right (and any Purchase Right granted, issued or sold on such initial Purchase Right
or on any subsequent Purchase Right held similarly in abeyance) to the same extent as if there had been no such limitation).

 

    	 	10	 

     

    

 

(b) Fundamental
Transactions. Subject to the rights of (i) the Company or a Successor Entity (as the case may be) to redeem this Warrant pursuant
to Section 4(c)(i), and (ii) the Holder to require the redemption of this Warrant by the Company or the Successor Entity
(as the case may be) pursuant to Section 4(c)(ii), the Company shall not enter into or be party to a Fundamental Transaction
unless (i) the Successor Entity assumes in writing all of the obligations of the Company under this Warrant and the other Transaction
Documents (as defined in the Securities Purchase Agreement) in accordance with the provisions of this Section 4(b) pursuant
to written agreements in form and substance satisfactory to the Holder and approved by the Holder prior to such Fundamental Transaction,
including agreements to deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written
instrument substantially similar in form and substance to this Warrant, including, without limitation, which is exercisable for
a corresponding number of shares of capital stock equivalent to the shares of Common Stock acquirable and receivable upon exercise
of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and
with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the
relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock,
such adjustments to the number of shares of capital stock and such exercise price being for the purpose of protecting the economic
value of this Warrant immediately prior to the consummation of such Fundamental Transaction); and (ii) the Successor Entity (including
the Parent Entity) is a publicly traded corporation whose shares of common stock are quoted or listed on an Eligible Market. Upon
the closing on the closing date of a Fundamental Transaction (an “FT Closing Date”), and subject to the rights
of (A) the Company or a Successor Entity (as the case may be) to redeem this Warrant pursuant to Section 4(c)(i), and (B)
the Company or the Successor Entity including the Parent Entity (as the case may be) to redeem this Warrant pursuant to a demand
of the Holder pursuant to Section 4(c)(ii), the Successor Entity shall succeed to, and be substituted for (so that from
and after the date of the applicable Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents
referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of
the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with
the same effect as if such Successor Entity had been named as the Company herein. Upon consummation of each Fundamental Transaction,
unless there is a redemption under 4(c)(i) or 4(c)(ii), the Successor Entity shall deliver to the Holder confirmation that there
shall be issued upon exercise of this Warrant at any time after the consummation of the applicable Fundamental Transaction, in
lieu of the shares of Common Stock (or other securities, cash, assets or other property (except such items still issuable under
Sections 3 and 4(a) above, which shall continue to be receivable thereafter)) issuable upon the exercise of this Warrant
prior to the applicable Fundamental Transaction, such shares of publicly traded common stock (or its equivalent) of the Successor
Entity (including its Parent Entity) which the Holder would have been entitled to receive upon the happening of the applicable
Fundamental Transaction had this Warrant been exercised immediately prior to the applicable Fundamental Transaction (without regard
to any limitations on the exercise of this Warrant), as adjusted in accordance with the provisions of this Warrant. In addition
to and not in substitution for any other rights hereunder, prior to the consummation of each Fundamental Transaction pursuant to
which holders of shares of Common Stock are entitled to receive securities or other assets with respect to or in exchange for shares
of Common Stock (a “Corporate Event”), the Company shall make appropriate provision to insure that the Holder
will thereafter have the right to receive upon any full or partial (as proportionately determined) exercise of this Warrant at
any time (i) prior to the FT Closing Date, and/or (ii) at any time following a FT Closing Date if no redemption occurred on the
FT Closing Date unless there is a redemption under Section 4(c)(i) or Section 4(c)(ii) but prior to the Expiration
Date, in lieu of the shares of the Common Stock (or other securities, cash, assets or other property (except such items still issuable
under Sections 3 and 4(a) above, which shall continue to be receivable thereafter) issuable upon the exercise of the Warrant
prior to such Fundamental Transaction, such shares of stock, securities, cash, assets or any other property whatsoever (including
warrants or other purchase or subscription rights) which the Holder would have been entitled to receive upon the happening of the
applicable Fundamental Transaction had this Warrant been exercised immediately prior to the applicable Fundamental Transaction
(without regard to any limitations on the exercise of this Warrant). Provision made pursuant to the preceding sentence shall be
in a form and substance reasonably satisfactory to the Holder; provided, however, notwithstanding anything to the
contrary or elsewhere, if the Company or the Successor Entity, including the Parent Entity, elects to redeem this Warrant pursuant
to Section 4(c)(i) and complies with such related provisions and if on the FT Closing Date this Warrant or any portion of
this Warrant is outstanding, the Company shall have the right to redeem this Warrant as provided in Section 4(c)(i) below.

 

    	 	11	 

     

    

 

(c) Redemption
of Warrant in Certain Events.

 

(i) Company/Successor
Entity Fundamental Redemption Right. Subject to the rights of the Holder pursuant to Section 4(c)(ii) and notwithstanding
anything to the contrary provided in Section 4(b) above, the Company or any Successor Entity (as the case may be) shall
have the right on a FT Closing Date to redeem this Warrant provided the Company or the Successor Entity including a Parent Entity
(as the case may be) provides to the Holder written notice of such election pursuant to Section 8 hereof, and paying to
the Holder in full, in cash on the FT Closing Date the Black Scholes Value or the Event of Default Black Scholes Value (if on the
FT Closing Date an Event of Default (as defined in the Notes) has occurred and is continuing), the “Warrant Redemption
Price”, in accordance with and pursuant to this Section 4(c)(i), and on such FT Closing Date the Company or the
Successor Entity including a Parent Entity (as the case may be) shall also provide written notice to the Holder of the payment
of the Warrant Redemption Price, the amount thereof and the calculations as to how such Warrant Redemption Price was determined
(including whether such was the Black Scholes Value or the Event of Default Black Scholes Value). Notwithstanding that the Company
or the Successor Entity (as the case may be) has delivered notice of election to redeem this Warrant pursuant to this Section
4(c)(i) the Holder may nevertheless exercise this Warrant in whole or in part at any time and from time to time through and
including the last Trading Day prior to the FT Closing Date. If the Warrant Redemption Price is not received by the Holder in full,
in cash (by wire transfer or bank check) by 11:59 p.m. (New York City time) by the first (1st) Trading Day following
the FT Closing Date, the right of the Company or the Successor Entity (as the case may be) shall terminate with respect to that
Fundamental Change as shall all future redemption rights of the Company (including to have a Successor Entity do the same) to elect
to redeem this Warrant pursuant to Section 4(c)(i) or otherwise and the Holder shall have the same rights set forth in Section
4(b) it would have had but for the election of the Company pursuant to this Section 4(c)(i). The agreement governing
the Fundamental Transaction shall make provision for redemption of the Warrant by the Company or the Successor Entity and also
for if the Company or the Successor Entity (as the case may be) elects to redeem this Warrant pursuant to Section 4(c)(i)
but fails to timely honor all of their respective obligations pursuant to Section 4(c)(i).

 

    	 	12	 

     

    

 

(ii) Mandatory
Fundamental Transaction Redemption at the Request of the Holder. Notwithstanding the provisions of Sections 4(b) and/or
4(c)(i), at the request of the Holder delivered at any time commencing on the earliest to occur of (x) the public disclosure
of any Fundamental Transaction, (y) the consummation of any Fundamental Transaction and (z) the Holder first becoming aware of
any Fundamental Transaction through the date that is thirty (30) days after the public disclosure of the consummation of such Fundamental
Transaction by the Company pursuant to a Current Report on Form 8-K filed with the SEC, the Company or the Successor Entity including
the Parent Entity (as the case may be) shall purchase this Warrant from the Holder on the date of such request by paying to the
Holder cash an amount equal to the Black Scholes Value (or the Event of Default Black Scholes Value if on the date of the required
redemption payment to the Holder, an Event of Default exists). Notwithstanding anything to the contrary contained herein, if the
FT Closing Date occurs prior to the foregoing thirty (30) day time period, the Company or Successor Entity (as the case may be)
may pay the Warrant Redemption Price on the FT Closing Date and thereafter, if all the redemption procedures required herein including
Section 8 are followed and the Warrant is redeemed in full, this Warrant shall terminate.

 

(iii) Event
of Default Redemption. Notwithstanding Section 4(c)(i) and (ii) and Section 4(b) above, at the request of the
Holder delivered at any time after the occurrence of an Event of Default (as defined in the Notes and regardless of if the Notes
are no longer outstanding), the Company or the Successor Entity (as the case may be) shall purchase this Warrant from the Holder
on the date of such request by paying to the Holder cash in an amount equal to the Event of Default Black Scholes Value.

 

(d) Application.
The provisions of this Section 4 shall apply similarly and equally to successive Fundamental Transactions and Corporate
Events and shall be applied as if this Warrant (and any such subsequent warrants) were fully exercisable and without regard to
any limitations on the exercise of this Warrant (provided that the Holder shall continue to be entitled to the benefit of the Maximum
Percentage, applied however with respect to shares of capital stock registered under the 1934 Act and thereafter receivable upon
exercise of this Warrant (or any other warrant)).

 

5. NONCIRCUMVENTION. The Company
hereby covenants and agrees that the Company will not, by amendment of its Certificate of Incorporation (as defined in the Securities
Purchase Agreement), Bylaws (as defined in the Securities Purchase Agreement) or through any reorganization, transfer of assets,
consolidation, merger, scheme of arrangement, dissolution, issuance or sale of securities, or any other voluntary action, avoid
or seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in good faith carry out
all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder. Without limiting
the generality of the foregoing, the Company (a) shall not increase the par value of any shares of Common Stock receivable upon
the exercise of this Warrant above the Exercise Price then in effect, and (b) shall take all such actions as may be necessary or
appropriate in order that the Company may validly and legally issue fully paid and non-assessable shares of Common Stock upon the
exercise of this Warrant. Notwithstanding anything herein to the contrary, if after the sixty (60) calendar day anniversary of
the Issuance Date, the Holder is not permitted to exercise this Warrant in full for any reason (other than pursuant to restrictions
set forth in Section 1(f) hereof), the Company shall use its best efforts to promptly remedy such failure, including, without
limitation, obtaining such consents or approvals as necessary to permit such exercise into shares of Common Stock.

 

    	 	13	 

     

    

 

6. WARRANT HOLDER NOT DEEMED A STOCKHOLDER.
Except as otherwise specifically provided herein, the Holder, solely in its capacity as a holder of this Warrant, shall not be
entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything
contained in this Warrant be construed to confer upon the Holder, solely in its capacity as the Holder of this Warrant, any of
the rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any
reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings,
receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which it is then
entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as
imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder
of the Company, whether such liabilities are asserted by the Company or by creditors of the Company. Notwithstanding this Section
6, the Company shall provide the Holder with copies of the same notices and other information given to the stockholders of the
Company generally, contemporaneously with the giving thereof to the stockholders.

 

7. REISSUANCE OF WARRANTS.

 

(a) Transfer of
Warrant. If this Warrant is to be transferred, the Holder shall surrender this Warrant to the Company, whereupon the Company
will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 7(d)), registered
as the Holder may request, representing the right to purchase the number of Warrant Shares being transferred by the Holder and,
if less than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance
with Section 7(d)) to the Holder representing the right to purchase the number of Warrant Shares not being transferred.

 

(b) Lost, Stolen
or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction
or mutilation of this Warrant (as to which a written certification and the indemnification contemplated below shall suffice as
such evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company
in customary and reasonable form and, in the case of mutilation, upon surrender and cancellation of this Warrant, the Company shall
execute and deliver to the Holder a new Warrant (in accordance with Section 7(d)) representing the right to purchase the
Warrant Shares then underlying this Warrant.

 

(c) Exchangeable
for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office of the
Company, for a new Warrant or Warrants (in accordance with Section 7(d)) representing in the aggregate the right to purchase
the number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to purchase such
portion of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however, no warrants for
fractional shares of Common Stock shall be given.

 

    	 	14	 

     

    

 

(d) Issuance of
New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant
(i) shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face of such new Warrant, the right to
purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to Section 7(a)
or Section 7(c), the Warrant Shares designated by the Holder which, when added to the number of shares of Common Stock underlying
the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this
Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date,
and (iv) shall have the same rights and conditions as this Warrant.

 

8. NOTICES. Whenever notice is required
to be given under this Warrant, unless otherwise provided herein, such notice shall be given in accordance with Section 9(f) of
the Securities Purchase Agreement. The Company shall provide the Holder with prompt written notice of all actions taken pursuant
to this Warrant (other than the issuance of shares of Common Stock upon exercise in accordance with the terms hereof), including
in reasonable detail a description of such action and the reason therefor. Without limiting the generality of the foregoing, the
Company will give written notice to the Holder (i) immediately upon each adjustment of the Exercise Price and the number of Warrant
Shares, setting forth in reasonable detail, and certifying, the calculation of such adjustment(s), (ii) at least ten (10) days
prior to the date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution upon
the shares of Common Stock or (B) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation,
provided in each case that such information shall be made known to the public prior to or in conjunction with such notice being
provided to the Holder, (iii) at least ten (10) Trading Days prior to an FT Closing Date, and (iv) within one (1) Business Day
of the occurrence of an Event of Default (as defined in the Notes), setting forth in reasonable detail any material events with
respect to such Event of Default and any efforts by the Company to cure such Event of Default. To the extent that any notice provided
hereunder constitutes, or contains, material, non-public information regarding the Company or any of its Subsidiaries, the Company
shall simultaneously file such notice with the SEC (as defined in the Securities Purchase Agreement) pursuant to a Current Report
on Form 8-K. It is expressly understood and agreed that the time of execution specified by the Holder in each Exercise Notice shall
be definitive and may not be disputed or challenged by the Company.

 

9. AMENDMENT AND WAIVER. Except
as otherwise provided herein, the provisions of this Warrant (other than Section 1(f)) may be amended and the Company may take
any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained
the written consent of the Holder. No waiver shall be effective unless it is in writing and signed by an authorized representative
of the waiving party.

 

10. SEVERABILITY. If any provision
of this Warrant 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 Warrant so long as this Warrant 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).

 

    	 	15	 

     

    

 

11. GOVERNING LAW. This Warrant
shall be governed by and construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation
and performance of this Warrant 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. The Company 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 the
Company at the address set forth in Section 9(f) of the Securities Purchase Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. The Company hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in The City of New York, Borough of Manhattan, 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. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.
Nothing contained herein shall be deemed or operate to preclude the Holder from bringing suit or taking other legal action against
the Company in any other jurisdiction to collect on the Company’s obligations to the Holder, to realize on any collateral
or any other security for such obligations, or to enforce a judgment or other court ruling in favor of the Holder. THE COMPANY
HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

12. CONSTRUCTION; HEADINGS. This
Warrant shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any Person as the
drafter hereof. The headings of this Warrant are for convenience of reference and shall not form part of, or affect the interpretation
of, this Warrant. Terms used in this Warrant but defined in the other Transaction Documents shall have the meanings ascribed to
such terms on the Closing Date (as defined in the Securities Purchase Agreement) in such other Transaction Documents unless otherwise
consented to in writing by the Holder.

 

    	 	16	 

     

    

 

13. DISPUTE RESOLUTION.

 

(a) Submission
to Dispute Resolution.

 

(i) In the
case of a dispute relating to the Exercise Price, the Closing Sale Price, the Closing Bid Price, the Lowest Price, the Black Scholes
Value, the Event of Default Black Scholes Value or fair market value or the arithmetic calculation of the number of Warrant Shares
(as the case may be) (including, without limitation, a dispute relating to the determination of any of the foregoing), the Company
or the Holder (as the case may be) shall submit the dispute to the other party via facsimile (A) if by the Company, within two
(2) Business Days after the occurrence of the circumstances giving rise to such dispute or (B) if by the Holder, at any time after
the Holder learned of the circumstances giving rise to such dispute. If the Holder and the Company are unable to promptly resolve
such dispute relating to such Exercise Price, such Closing Sale Price, such Closing Bid Price, such Lowest Price, such Black Scholes
Value, such Event of Default Black Scholes Value or such fair market value or such arithmetic calculation of the number of Warrant
Shares (as the case may be), at any time after the second (2nd) Business Day following such initial notice by the Company or the
Holder (as the case may be) of such dispute to the Company or the Holder (as the case may be), then the Holder may, at its sole
option, select an independent, reputable investment bank to resolve such dispute.

 

(ii) The Holder
and the Company shall each deliver to such investment bank (A) a copy of the initial dispute submission so delivered in accordance
with the first sentence of this Section 13 and (B) written documentation supporting its position with respect to such dispute,
in each case, no later than 5:00 p.m. (New York time) by the fifth (5th) Business Day immediately following the date on which the
Holder selected such investment bank (the “Dispute Submission Deadline”) (the documents referred to in the immediately
preceding clauses (A) and (B) are collectively referred to herein as the “Required Dispute Documentation”) (it
being understood and agreed that if either the Holder or the Company fails to so deliver all of the Required Dispute Documentation
by the Dispute Submission Deadline, then the party who fails to so submit all of the Required Dispute Documentation shall no longer
be entitled to (and hereby waives its right to) deliver or submit any written documentation or other support to such investment
bank with respect to such dispute and such investment bank shall resolve such dispute based solely on the Required Dispute Documentation
that was delivered to such investment bank prior to the Dispute Submission Deadline). Unless otherwise agreed to in writing by
both the Company and the Holder or otherwise requested by such investment bank, neither the Company nor the Holder shall be entitled
to deliver or submit any written documentation or other support to such investment bank in connection with such dispute (other
than the Required Dispute Documentation).

 

(iii) The
Company and the Holder shall cause such investment bank to determine the resolution of such dispute and notify the Company and
the Holder of such resolution no later than ten (10) Business Days immediately following the Dispute Submission Deadline. The fees
and expenses of such investment bank shall be borne solely by the Company, and such investment bank’s resolution of such
dispute shall be final and binding upon all parties absent manifest error.

 

    	 	17	 

     

    

 

(b) Miscellaneous.
The Company expressly acknowledges and agrees that (i) this Section 13 constitutes an agreement to arbitrate between the Company
and the Holder (and constitutes an arbitration agreement) under the rules then in effect under § 7501, et seq. of the New
York Civil Practice Law and Rules (“CPLR”) and that the Holder is authorized to apply for an order to compel
arbitration pursuant to CPLR § 7503(a) in order to compel compliance with this Section 13, (ii) a dispute relating to the
Exercise Price includes, without limitation, disputes as to (A) whether an issuance or sale or deemed issuance or sale of Common
Stock occurred under Section 2(b), (B) the consideration per share at which an issuance or deemed issuance of Common Stock occurred,
(C) whether any issuance or sale or deemed issuance or sale of Common Stock was an issuance or sale or deemed issuance or sale
of Excluded Securities, (D) whether an agreement, instrument, security or the like constitutes and Option or Convertible Security
and (E) whether a Dilutive Issuance occurred, (iii) the terms of this Warrant and each other applicable Transaction Document shall
serve as the basis for the selected investment bank’s resolution of the applicable dispute, such investment bank shall be
entitled (and is hereby expressly authorized) to make all findings, determinations and the like that such investment bank determines
are required to be made by such investment bank in connection with its resolution of such dispute (including, without limitation,
determining (A) whether an issuance or sale or deemed issuance or sale of Common Stock occurred under Section 2(b), (B) the consideration
per share at which an issuance or deemed issuance of Common Stock occurred, (C) whether any issuance or sale or deemed issuance
or sale of Common Stock was an issuance or sale or deemed issuance or sale of Excluded Securities, (D) whether an agreement, instrument,
security or the like constitutes and Option or Convertible Security and (E) whether a Dilutive Issuance occurred) and in resolving
such dispute such investment bank shall apply such findings, determinations and the like to the terms of this Warrant and any other
applicable Transaction Documents, (iv) the Holder (and only the Holder), in its sole discretion, shall have the right to submit
any dispute described in this Section 13 to any state or federal court sitting in The City of New York, Borough of Manhattan in
lieu of utilizing the procedures set forth in this Section 13 and (v) nothing in this Section 13 shall limit the Holder from obtaining
any injunctive relief or other equitable remedies (including, without limitation, with respect to any matters described in this
Section 13).

 

14. REMEDIES, CHARACTERIZATION, OTHER
OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Warrant shall be cumulative and in addition to all
other remedies available under this Warrant and the other Transaction Documents, at law or in equity (including a decree of specific
performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue actual and consequential
damages for any failure by the Company to comply with the terms of this Warrant. The Company covenants to the Holder that there
shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided
for herein with respect to payments, exercises and the like (and the computation thereof) shall be the amounts to be received by
the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance
thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and
that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach
or threatened breach, the holder of this Warrant shall be entitled, in addition to all other available remedies, to an injunction
restraining any breach, without the necessity of showing economic loss and without any bond or other security being required. The
Company shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm
the Company’s compliance with the terms and conditions of this Warrant (including, without limitation, compliance with Section
2 hereof). The issuance of shares and certificates for shares as contemplated hereby upon the exercise of this Warrant shall be
made without charge to the Holder or such shares for any issuance tax or other costs in respect thereof, provided that the Company
shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any
certificate in a name other than the Holder or its agent on its behalf.

 

    	 	18	 

     

    

 

15. PAYMENT OF COLLECTION, ENFORCEMENT
AND OTHER COSTS. If (a) this Warrant is placed in the hands of an attorney for collection or enforcement or is collected or
enforced through any legal proceeding or the holder otherwise takes action to collect amounts due under this Warrant or to enforce
the provisions of this Warrant or (b) there occurs any bankruptcy, reorganization, receivership of the company or other proceedings
affecting company creditors’ rights and involving a claim under this Warrant, then the Company shall pay the costs incurred
by the Holder for such collection, enforcement or action or in connection with such bankruptcy, reorganization, receivership or
other proceeding, including, without limitation, attorneys’ fees and disbursements.

 

16. TRANSFER. This Warrant may be
offered for sale, sold, transferred or assigned without the consent of the Company, except as may otherwise be required by Section
2(f) of the Securities Purchase Agreement.

 

17. REGISTRATION RIGHTS. The Holder
is hereby granted piggyback registration rights upon the same terms as Perceptive Credit Holdings II, LP (“Perceptive”)
pursuant to the seven year Warrant issued to Perceptive to purchase 723,550 shares of Common Stock; provided that if the number
of shares of Common Stock which can be sold in such offering and/or that the number of shares of Common Stock proposed to be included
by Perceptive are required to be cut back or reduced then the Company shall reduce the shares requested to be included by the
Holder at the same proportion as the shares to be included by Perceptive.

 

18. CERTAIN DEFINITIONS.
For purposes of this Warrant, the following terms shall have the following meanings:

 

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

 

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

 

(c) “Affiliate”
or “affiliate” means, with respect to any Person, any other Person that directly or indirectly controls, is
controlled by, or is under common control with, such Person, it being understood for purposes of this definition that “control”
of a Person means the power directly or indirectly either to vote 10% or more of the stock having ordinary voting power for the
election of directors of such Person or direct or cause the direction of the management and policies of such Person whether by
contract or otherwise.

 

(d) “Attribution
Parties” means, collectively, the following Persons and entities: (i) any investment vehicle, including, any funds, feeder
funds or managed accounts, currently, or from time to time after the Issuance Date, directly or indirectly managed or advised by
the Holder’s investment manager or any of its Affiliates or principals, (ii) any direct or indirect Affiliates of the Holder
or any of the foregoing, (iii) any Person acting or who could be deemed to be acting as a Group together with the Holder or any
of the foregoing and (iv) any other Persons whose beneficial ownership of the Company’s Common Stock would or could be aggregated
with the Holder’s and the other Attribution Parties for purposes of Section 13(d) of the 1934 Act. For clarity, the purpose
of the foregoing is to subject collectively the Holder and all other Attribution Parties to the Maximum Percentage.

 

    	 	19	 

     

    

 

(e) “Black
Scholes Value” means the value of the unexercised portion of this Warrant remaining on the date of the Holder’s
applicable request pursuant to Section 4(c)(ii) or the Company’s or the Successor Entity’s election (as the
case may be) pursuant to Section 4(c)(i), as a result of a Fundamental Transaction, which value is calculated using the
Black Scholes Option Pricing Model obtained from the “OV” function on Bloomberg utilizing (i) an underlying price per
share equal to the greater of (1) the highest Closing Sale Price or Closing Bid Price (as the case may be) of the Common Stock
during the period beginning on the Trading Day immediately preceding the announcement of the applicable Fundamental Transaction
(or the consummation of the applicable Fundamental Transaction, if earlier) and ending on the Trading Day of the Holder’s
request pursuant to Section 4(c)(ii) or the Company’s or the Successor Entity’s election (as the case may be)
pursuant to Section 4(c)(i), and (2) as a result of a Fundamental Transaction, the sum of the price per share being offered
in cash in the applicable Fundamental Transaction (if any) plus the value of the non-cash consideration being offered in the applicable
Fundamental Transaction (if any), (ii) a strike price equal to the Exercise Price in effect on the date of the Holder’s request
pursuant to Section 4(c)(ii) or the Company’s or the Successor Entity’s election (as the case may be) pursuant
to Section 4(c)(i) as a result of a Fundamental Transaction, (iii) a risk-free interest rate corresponding to the U.S. Treasury
rate for a period equal to the greater of (1) the remaining term of this Warrant as of the date of the aforementioned request pursuant
to either Section 4(c)(i) or Section 4(c)(ii) as a result of a Fundamental Transaction and (2) the remaining term
of this Warrant as of the date of consummation of the applicable Fundamental Transaction or as of the date of the aforementioned
request pursuant to either Section 4(c)(i) or Section 4(c)(ii) as a result of a Fundamental Transaction if such request
is prior to the date of the consummation of the applicable Fundamental Transaction, (iv) a zero cost of borrow and (v) an expected
volatility equal to the greater of 100% and the 30 day volatility obtained from the “HVT” function on Bloomberg (determined
utilizing a 365 day annualization factor) as of the Trading Day immediately following the earliest to occur of (A) the public disclosure
of the applicable Fundamental Transaction, (B) the consummation of the applicable Fundamental Transaction and (C) the date on which
the Holder first became aware of the applicable Fundamental Transaction.

 

(f) “Bloomberg”
means Bloomberg, L.P.

 

(g) “Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed.

 

    	 	20	 

     

    

 

(h) “Closing
Sale Price” or “Closing Bid Price” means, for any security as of any date, the last closing bid price
and last closing trade price, respectively, for such security on the Principal Market, as reported by Bloomberg, or, if the Principal
Market begins to operate on an extended hours basis and does not designate the closing bid price or the closing trade price (as
the case may be) then the last bid price or last trade price, respectively, of such security prior to 4:00:00 p.m., New York
time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange or trading market for such
security, the last closing bid price or last trade price, respectively, of such security on the principal securities exchange or
trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do not apply, the last closing
bid price or last trade price, respectively, of such security in the over-the-counter market on the electronic bulletin board for
such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively, is reported for such security
by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers for such security as reported
in the “pink sheets” by OTC Markets Group Inc. (formerly Pink Sheets LLC). If the Closing Bid Price or the Closing
Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Bid Price or the
Closing Sale Price (as the case may be) of such security on such date shall be the fair market value as mutually determined by
the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then
such dispute shall be resolved in accordance with the procedures in Section 24. All such determinations shall be appropriately
adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions during such
period.

 

(i) “Common
Stock” means (i) the Company’s shares of common stock, $0.001 par value per share, and (ii) any capital stock into
which such common stock shall have been changed or any share capital resulting from a reclassification of such common stock.

 

(j) “Convertible
Securities” means any stock or other security (other than Options) that is at any time and under any circumstances, directly
or indirectly, convertible into, exercisable or exchangeable for, or which otherwise entitles the holder thereof to acquire, any
shares of Common Stock.

 

(k) “Eligible
Market” means The New York Stock Exchange, the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Select Market,
the Nasdaq Global Market or the Principal Market.

 

(l) “Event
of Default Black Scholes Value” means the value of the unexercised portion of this Warrant remaining on the date of the
Holder’s request pursuant to Section 4(c)(ii) as a result of an Event of Default, which value is calculated using
the Black Scholes Option Pricing Model obtained from the “OV” function on Bloomberg utilizing (i) an underlying price
per share equal to the highest Closing Sale Price or Closing Bid Price (as the case may be) of the Common Stock during the period
beginning on the date of the occurrence of the Event of Default through the date all Events of Default have been cured or, if earlier,
the Trading Day of the Holder’s request pursuant to Section 4(c)(ii) as a result of an Event of Default, (ii) a strike
price equal to the Exercise Price in effect on the date of the Holder’s request pursuant to Section 4(c)(ii) as a
result of an Event of Default, (iii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the
greater of (1) the remaining term of this Warrant as of the date of the Holder’s request pursuant to Section 4(c)(ii)
as a result of an Event of Default and (2) the remaining term of this Warrant as of the date of the occurrence of such Event of
Default, (iv) a zero cost of borrow and (v) an expected volatility equal to the greater of 100% and the 30 day volatility obtained
from the “HVT” function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately
following later of (x) the date of the occurrence of such Event of Default and (y) the date of the public announcement of such
Event of Default.

 

    	 	21	 

     

    

 

(m) “Expiration
Date” means the date that is the fifth (5th) anniversary of the Issuance Date or, if such date falls on a day other than
a Business Day or on which trading does not take place on the Principal Market (a “Holiday”), the next date
that is not a Holiday.

 

(n) “Fundamental
Transaction” means that (i) the Company or any of its Subsidiaries shall, directly or indirectly, in one or more related
transactions (1) consolidate or merge with or into (whether or not the Company or any of its Subsidiaries is the surviving corporation)
any other Person, or (2) sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of its
respective properties or assets to any other Person, or (3) allow any other Person to make a purchase, tender or exchange offer
that is accepted by the holders of more than 50% of the outstanding shares of Voting Stock of the Company (not including any shares
of Voting Stock of the Company held by the Person or Persons making or party to, or associated or affiliated with the Persons making
or party to, such purchase, tender or exchange offer), or (4) consummate a stock or share purchase agreement or other business
combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with any other
Person whereby such other Person acquires more than 50% of the outstanding shares of Voting Stock of the Company (not including
any shares of Voting Stock of the Company held by the other Person or other Persons making or party to, or associated or affiliated
with the other Persons making or party to, such stock or share purchase agreement or other business combination), or (ii) any “person”
or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the 1934 Act and the rules and regulations
promulgated thereunder) is or shall become the “beneficial owner” (as defined in Rule 13d-3 under the 1934 Act), directly
or indirectly, of 50% of the aggregate ordinary voting power represented by issued and outstanding Voting Stock of the Company.
Notwithstanding the above, a Fundamental Transaction shall not be deemed to occur as a result of a reincorporation merger of the
Company provided other than the place of incorporation of the Company no other material changes occur to the Company, as a result
of such reincorporation merger.

 

(o) “Note”
has the meaning ascribed to such term in the Securities Purchase Agreement, and shall include all notes issued in exchange therefor
or replacement thereof.

 

(p) “Options”
means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities.

 

(q) “Option
Value” means (I) if the Company is a Trading Issuer, the value of the applicable Option or Convertible Security (as the
case may be) using the Black Scholes Option Pricing model obtained from the “OV” function on Bloomberg determined as
of the date of issuance of the Option or Convertible Security (as the case may be) utilizing (i) an underlying price per share
equal to the Closing Bid Price or Closing Sale Price (as the case may be) of the Common Stock on the Trading Day immediately preceding
the public announcement of the execution of definitive documents with respect to the issuance of such Option or Convertible Security
(as the case may be), (ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining
term of such Option or Convertible Security (as the case may be) as of the date of issuance of such Option or Convertible Security
(as the case may be), (iii) a zero cost of borrow and (iv) an expected volatility equal to the greater of 100% and the 100 day
volatility obtained from the “HVT” function on Bloomberg (determined utilizing a 365 day annualization factor) as of the
Trading Day immediately following the date of issuance of such Option or Convertible Security (as the case may be)., or (II) if
the Company is not a Trading Issuer (or the value of an Option cannot be determined pursuant to (I)), of this definition of “Option
Value,” the value of an Option or Convertible Security (as the case may be) shall be determined pursuant to Section 24.

 

    	 	22	 

     

    

 

(r) “Parent
Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person and whose common stock
or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one such Person or Parent Entity,
the Person or Parent Entity with the largest public market capitalization as of the date of consummation of the Fundamental Transaction.

 

(s) “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
any other entity or a government or any department or agency thereof.

 

(t) “Principal
Market” means as of a particular date, the Eligible Market on such date that the Common Stock is principally traded or
quoted on.

 

(u) “Resale
Eligibility Date” means the earlier to occur of (i) the date the SEC declares effective a registration statement registering
the resale of shares of Common Stock issuable upon exercise of this Warrant, and (ii) the initial date any of the shares of Common
Stock issuable upon exercise of this Warrant are eligible to be resold pursuant to Rule 144 (as defined in the Securities Purchase
Agreement).

 

(v) “SEC”
means the United States Securities and Exchange Commission or the successor thereto.

 

(w) “Successor
Entity” means the Person (or, if so elected by the Holder, the Parent Entity) formed by, resulting from or surviving
any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with which such Fundamental Transaction
shall have been entered into.

 

(x) “Trading
Day” means, as applicable, (x) with respect to all price or trading volume determinations relating to the Common Stock,
any day on which the Common Stock is traded on the Principal Market, or, if the Principal Market is not the principal trading market
for the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is then traded,
provided that “Trading Day” shall not include any day on which the Common Stock is scheduled to trade on such exchange
or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final hour of trading on
such exchange or market (or if such exchange or market does not designate in advance the closing time of trading on such exchange
or market, then during the hour ending at 4:00:00 p.m., New York time) unless such day is otherwise designated as a Trading Day
in writing by the Holder or (y) with respect to all determinations other than price determinations relating to the Common Stock,
any day on which The New York Stock Exchange (or any successor thereto) is open for trading of securities.

 

(y) “Voting
Stock” of a Person means capital stock of such Person of the class or classes pursuant to which the holders thereof have
the general voting power to elect, or the general power to appoint, at least a majority of the board of directors, managers, trustees
or other similar governing body of such Person (irrespective of whether or not at the time capital stock of any other class or
classes shall have or might have voting power by reason of the happening of any contingency).

 

[signature page follows]

 

    	 	23	 

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Amended and Restated Warrant to Purchase Common Stock to be duly executed on August 31, 2018 effective
as of the Issuance Date set out above.

 

	 	ICAGEN, INC.
	 	 	 
	 	By:	/s/ Richard Cunningham
	 	Name: 	Richard Cunningham
	 	Title: 	CEO

 

AGREED AND ACKNOWLEDGED,
as to the first paragraph of this Amended and Restated Warrant to Purchase Common Stock which supersedes and replaces the Original
Warrant (Warrant No. ICGI-GPB-1)

 

	GPB Debt Holdings II, LLC	 
	 	 	 
	By:	/s/ Evan Myrianthopoulos	 
	Name:  	Evan Myrianthopoulos	 
	Title: 	Managing Partner	 

 

    	 	24	 

     

    

 

EXHIBIT A

 

EXERCISE NOTICE

 

TO BE EXECUTED BY THE REGISTERED HOLDER
TO EXERCISE THIS

AMENDED AND RESTATED WARRANT TO PURCHASE
COMMON STOCK

 

ICAGEN, INC.

 

The undersigned holder
hereby exercises the right to purchase _________________ of the shares of Common Stock (“Warrant Shares”) of
Icagen, Inc., a Delaware corporation (the “Company”), evidenced by Amended and Restated Warrant to Purchase
Common Stock No. _______ (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have
the respective meanings set forth in the Warrant.

 

1. Form of Exercise
Price. The Holder intends that payment of the Aggregate Exercise Price shall be made as:

 

	 	____________	 	a “Cash Exercise” with respect to _________________ Warrant Shares; and/or
	 	 	 	 
	 	 	 	 
	 	____________	 	a “Cashless Exercise” with respect to _______________ Warrant Shares.

 

In the event that
the Holder has elected a Cashless Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the
Holder hereby represents and warrants that (i) this Exercise Notice was executed by the Holder at __________ [a.m.][p.m.] on the
date set forth below and (ii) if applicable, the Closing Sale Price or Closing Bid Price as of such time of execution of this Exercise
Notice was $________.

 

[  ] If this Exercise Notice
is being delivered after the Alternate Exercise Eligibility Date, check here if Holder is electing to use the following Alternate
Exercise Price in this exercise:____________.

 

2. Payment of Exercise
Price. In the event that the Holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued
pursuant hereto, the Holder shall pay the Aggregate Exercise Price in the sum of $___________________ to the Company in accordance
with the terms of the Warrant.

 

    	 	25	 

     

    

 

3. Delivery of Warrant
Shares. The Company shall deliver to Holder, or its designee or agent as specified below, __________ Warrant Shares in accordance
with the terms of the Warrant. Delivery shall be made to Holder, or for its benefit, as follows:

 

[  ] Check here
if requesting delivery as a certificate to the following name and to the following address:

 

	 	Issue to:	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

[  ] Check here if requesting delivery
by Deposit/Withdrawal at Custodian as follows:

 

	 	DTC Participant:	 
	 	 	 
	 	DTC Number:	 
	 	 	 
	 	Account Number:	 

 

	Date:	 	 
	 	 	 
	 	 	 
	Name of Registered Holder	 

 

	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	Tax ID:	 	 
	 	 	 
	Facsimile:	 	 
	 	 	 
	E-mail Address:	 

 

    	 	26	 

     

    

 

EXHIBIT B

 

ACKNOWLEDGMENT

 

The Company hereby acknowledges
this Exercise Notice and hereby directs ______________ to issue the above indicated number of shares of Common Stock in accordance
with the Transfer Agent Instructions dated May 15, 2017, from Icagen, Inc. and acknowledged and agreed to by _______________.

 

	 	ICAGEN, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 	27Exhibit 10.1

 

Portions herein identified by [*****] have been omitted pursuant
to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete
copy of this document has been filed separately with the Securities and Exchange Commission.

 

Execution
Version

 

 

 

Credit
Agreement and Guaranty

 

dated
as of

 

August
31, 2018

 

among

 

Icagen,
Inc.

as the Borrower,

 

Certain
Subsidiaries of the Borrower from Time to Time Party hereto,

as the Subsidiary Guarantors,

 

The
Lenders from Time to Time Party hereto,

as the Lenders,

 

and

 

Perceptive
Credit Holdings II, LP

as the Administrative Agent

 

U.S.
$7,250,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Table
of Contents

 

	Section	Heading	Page
	 	 	 
	Section 1.	Definitions	1
	 	 	 
	Section 1.01.	Certain Defined Terms	1
	Section 1.02.	Accounting Terms and Principles	24
	Section 1.03.	Interpretation	24
	Section 1.04.	Changes to GAAP	25
	 	 	 
	Section 2.	The Commitments And The Term Loan	26
	 	 	 
	Section 2.01.	Term Loan	26
	Section 2.02.	Notes	27
	Section 2.03.	Use of Proceeds	27
	Section 2.04.	Proportionate Shares	27
	 	 	 
	Section 3	Payments of Principal
                                         and Interest

	27
	 	 	 
	Section 3.01.	Repayments and Prepayments Generally; Application	27
	Section 3.02.	Interest	27
	Section 3.03.	Prepayments; Prepayment Premium	28
	Section 3.04.	Closing Fees	30
	 	 	 
	Section
4.	Payments, Etc.	30
	 	 	 
	Section 4.01.	Payments	30
	Section 4.02.	Computations	30
	Section 4.03.	Set-Off	30
	 	 	 
	Section 5.	Yield Protection, Etc.	31
	 	 	 
	Section 5.01.	Additional Costs	31
	Section 5.02.	Illegality	32
	Section 5.03.	Taxes	32
	Section 5.04.	Delay in Requests	37
	 	 	 
	Section 6.	Conditions Precedent	37
	 	 	 
	Section 6.01.	Conditions to the Closing Date	37
	 	 	 
	Section 7.	Representations and Warranties	40
	 	 	 
	Section 7.01.	Power and Authority	41
	Section 7.02.	Authorization; Enforceability	41
	Section 7.03.	Governmental and Other Approvals; No Conflicts	41

 

    -i-

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Section 7.04.	Financial Statements; Material Adverse Change	41
	Section 7.05.	Properties	42
	Section 7.06.	No Actions or Proceedings	44
	Section 7.07.	Compliance with Laws and Agreements	45
	Section 7.08.	Taxes	45
	Section 7.09.	Full Disclosure	45
	Section 7.10.	Investment Company and Margin Stock Regulation	45
	Section 7.11.	Solvency	46
	Section 7.12	Equity Holders; Subsidiaries; Equity Investments	46
	Section 7.13.	Indebtedness and Liens	46
	Section 7.14.	Material Agreements	47
	Section 7.15.	Restrictive Agreements	47
	Section 7.16.	Real Property	47
	Section 7.17.	Pension Matters	47
	Section 7.18.	Priority of Obligations; Collateral; Security Interest	47
	Section 7.19.	Regulatory Approvals	47
	Section 7.20.	Transactions with Affiliates	48
	Section 7.21.	OFAC	49
	Section 7.22.	Anti-Corruption	49
	Section 7.23.	Deposit and Disbursement Accounts	49
	Section 7.24.	Royalty and Other Payments	49
	 	 	 
	Section 8.	Affirmative covenants	49
	 	 	 
	Section 8.01.	Financial Statements and Other Information	50
	Section 8.02.	Notices of Material Events	52
	Section 8.03.	Existence; Conduct of Business	55
	Section 8.04.	Payment of Obligations	55
	Section 8.05.	Insurance	55
	Section 8.06.	Books and Records; Inspection Rights	56
	Section 8.07.	Compliance with Laws and Other Obligations	56
	Section 8.08.	Maintenance of Properties, Etc.	56
	Section 8.09.	Maintenance of Regulatory Approvals and Material Intellectual Property	57
	Section 8.10.	Action Under Environmental Laws	57
	Section 8.11.	Use of Proceeds	57
	Section 8.12.	Certain Obligations Respecting Subsidiaries; Further Assurances	58
	Section 8.13.	Termination of Non-Permitted Liens	58
	Section 8.14.	Intellectual Property	59
	Section 8.15.	ERISA Compliance	59
	Section 8.16.	Cash Management	59
	Section 8.17.	Post-Closing Obligations	59
	Section 8.18.	Milestone	59
	Section 8.19.	Icagen-T Lien	59
	Section 8.20.	Board Observer Rights	60

 

    -ii-

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Section 9.	Negative Covenants	60
	 	 	 
	Section 9.01.	Indebtedness	60
	Section 9.02.	Liens	62
	Section 9.03.	Fundamental Changes and Acquisitions	65
	Section 9.04.	Lines of Business	65
	Section 9.05.	Investments	65
	Section 9.06.	Restricted Payments	67
	Section 9.07.	Payments of Indebtedness	68
	Section 9.08.	Change in Fiscal Year	68
	Section 9.09.	Sales of Assets, Etc	68
	Section 9.10.	Transactions with Affiliates	69
	Section 9.11.	Restrictive Agreements	69
	Section 9.12.	Modifications and Terminations of Material Agreements and Organic Documents	69
	Section 9.13.	Licensing of Intellectual Property	70
	Section 9.14.	Sales and Leasebacks	70
	Section 9.15.	Hazardous Material	70
	Section 9.16.	Accounting Changes	70
	Section 9.17.	Compliance with ERISA	70
	 	 	 
	Section 10.	Financial Covenants	70
	 	 	 
	Section 10.01.	Minimum Liquidity	70
	Section 10.02.	Minimum Revenue	71
	 	 	 
	Section 11.	Events of Default	71
	 	 	 
	Section 11.01.	Events of Default	71
	Section 11.02.	Remedies	74
	Section 11.03.	Additional Remedies	74
	Section 11.04.	Prepayment Premium and Redemption Price	75
	 	 	 
	Section 12.	Guarantee	75
	 	 	 
	Section 12.01.	The Guarantee	75
	Section 12.02.	Obligations Unconditional	75
	Section 12.03.	Reinstatement	76
	Section 12.04.	Subrogation	76
	Section 12.05.	Remedies	77
	Section 12.06.	Instrument for the Payment of Money	77
	Section 12.07.	Continuing Guarantee	77
	Section 12.08.	Rights of Contribution	77
	Section 12.09.	General Limitation on Guarantee Obligations	78

 

    -iii-

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Section 13.	Administrative agent	78
	 	 	 
	Section 13.01.	Appointment	78
	Section 13.02.	Rights as a Lender	78
	Section 13.03.	Exculpatory Provisions	79
	Section 13.04.	Reliance by Administrative Agent	80
	Section 13.05.	Delegation of Duties	80
	Section 13.06.	Resignation of Agent.	80
	Section 13.07.	Non-Reliance on Administrative Agent and Other Lenders	81
	Section 13.08.	Administrative Agent May File Proofs of Claim	82
	Section 13.09.	Collateral and Guaranty Matters; Appointment of Collateral Agent	82
	 	 	 
	Section 14.	Miscellaneous	83
	 	 	 
	Section 14.01.	No Waiver	83
	Section 14.02.	Notices	83
	Section 14.03.	Expenses, Indemnification, Etc.	84
	Section 14.04.	Amendments, Etc.	85
	Section 14.05.	Successors and Assigns	85
	Section 14.06.	Survival	88
	Section 14.07.	Captions	88
	Section 14.08.	Counterparts	88
	Section 14.09.	Governing Law	88
	Section 14.10.	Jurisdiction, Service of Process and Venue	88
	Section 14.11.	Waiver of Jury Trial	89
	Section 14.12.	Waiver of Immunity	89
	Section 14.13.	Entire Agreement	89
	Section 14.14.	Severability	89
	Section 14.15.	No Fiduciary Relationship	90
	Section 14.16.	Confidentiality	90
	Section 14.17.	Right of Setoff	91
	Section 14.18.	Judgment Currency	91
	Section 14.19.	USA PATRIOT Act	91
	Section 14.20.	Release of Collateral and Guarantees; Non-Disturbance Agreements	91
	Section 14.21.	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	92

 

    -iv-

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedules and
Exhibits

 

	Schedule 1	—	Commitments and Warrant Shares
	Schedule 7.05(b)	—	Obligor Intellectual Property
	Schedule 7.05(c)	—	Material Intellectual Property
	Schedule 7.06(a)	—	Certain Litigation
	Schedule 7.06(c)	—	Labor Matters
	Schedule 7.12(a)	—	Equity Holders
	Schedule 7.12(b)	—	Information Regarding Subsidiaries
	Schedule 7.12(c)	—	Equity Investments
	Schedule 7.13(a)	—	Outstanding Indebtedness
	Schedule 7.13(b)	—	Pay-Off Indebtedness
	Schedule 7.13(c)	—	Liens
	Schedule 7.14	—	Material Agreements of Obligors
	Schedule 7.15	—	Restrictive Agreements
	Schedule 7.16	—	Real Property Owned or Leased by Obligors or any Subsidiary
	Schedule 7.17	—	Pension Matters
	Schedule 7.19(b)	—	Regulatory Approvals
	Schedule 7.19(e)	—	Certain Regulatory Matters
	Schedule 7.20	—	Transactions with Affiliates
	Schedule 7.21	—	OFAC Matters
	Schedule 7.23	—	Deposit and Disbursement Accounts
	Schedule 7.24	—	Royalty and Payments
	Schedule 8.17	—	Post-Closing Obligations
	Schedule 9.05	—	Existing Investments
	Schedule 9.10	—	Transactions with Affiliates
	Schedule 9.14	—	Permitted Sales and Leasebacks
	Schedule 10.02	—	Contemplated Collaboration Agreement

 

    -v-

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Exhibit A	—	Form of Note
	Exhibit B	—	[Reserved]
	Exhibit C	—	Form of Guarantee Assumption Agreement
	Exhibit D-1	—	Forms of U.S. Tax Compliance Certificate
	Exhibit D-2	—	Forms of U.S. Tax Compliance Certificate
	Exhibit D-3	—	Forms of U.S. Tax Compliance Certificate
	Exhibit D-4	—	Forms of U.S. Tax Compliance Certificate
	Exhibit E	—	Form of Compliance Certificate
	Exhibit F	—	Form of Assignment and Assumption
	Exhibit G	—	Form of Landlord Consent
	Exhibit H	—	Form of Security Agreement
	Exhibit I	—	Form of Collateral Questionnaire
	Exhibit J	—	Form of Patent Security Agreement
	Exhibit K	—	Form of Trademark Security Agreement
	Exhibit L	—	Form of Copyright Security Agreement
	Exhibit M	—	Form of Closing Date Certificate

 

    -vi-

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Credit
Agreement and Guaranty

 

Credit
Agreement and Guaranty, dated as of August 31, 2018 (this “Agreement”), among Icagen, Inc., a Delaware corporation
(the “Borrower”), certain of the Borrower’s Subsidiaries from time to time parties hereto, the lenders
from time to time party hereto (each, a “Lender” and collectively, the “Lenders”), and Perceptive
Credit Holdings II, LP, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).

 

Witnesseth:

 

Whereas,
the Borrower has requested that the Lenders provide a senior secured term loan facility to the Borrower in an aggregate principal
amount of $7,250,000; and

 

Whereas,
the Lenders are willing, on the terms and subject to the conditions set forth herein, to provide such senior secured term loan
facility.

 

Now,
Therefore, the parties hereto agree as follows:

 

Section 1. Definitions.

 

Section 1.01. Certain
Defined Terms. As used herein, the following terms have the following respective meanings:

 

“Accounting
Change Notice” has the meaning set forth in Section 1.04(a).

 

“Acquisition”
means any transaction, or any series of related transactions, by which any Person directly or indirectly, by means of a take-over
bid, tender offer, amalgamation, merger, purchase of assets, or similar transaction having the same effect as any of the foregoing,
(i) acquires all or substantially all of the assets, business unit or division of any Person, (ii) acquires control
of Equity Interests of a Person representing more than fifty percent (50%) of the ordinary voting power for the election of directors
to the board of directors or other governing body of such Person, or (iii) acquires control of more than fifty percent (50%)
of the Equity Interests in any Person.

 

“Act”
has the meaning set forth in Section 14.19.

 

“Administrative
Agent” has the meaning set forth in the preamble hereto.

 

“Affiliate”
means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries,
Controls or is Controlled by or is under common Control with the Person specified; provided that, with respect to any Lender,
an Affiliate of such Lender shall include, without limitation, all of such Lender’s Related Funds, but shall exclude any
portfolio companies or partners of such Lender or of such Related Funds.

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Agreement”
has the meaning set forth in the preamble hereto.

 

“Applicable
Margin” means nine and three-quarters percent (9.75%), as such percentage may be increased pursuant to Section 3.02(b).

 

“Asset
Sale” has the meaning set forth in Section 9.09.

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and an assignee of such Lender in substantially
the form of Exhibit F.

 

“Bail-In
Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect
of any liability of an EEA Financial Institution.

 

“Bail-In
Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the
European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time
which is described in the EU Bail-In Legislation Schedule.

 

“Bailee
Letter” means a bailee letter in form and substance reasonably satisfactory to the Administrative Agent.

 

“Bankruptcy
Code” means Title 11 of the United States Code entitled “Bankruptcy”.

 

“Board”
means, with respect to any Person, the board of directors (or equivalent management body) of such Person or any committee
thereof duly authorized to act on behalf of such board or management body.

 

“Borrower”
has the meaning set forth in the preamble hereto.

 

“Borrowing”
means the borrowing of the Term Loan on the Closing Date.

 

“Bridge
Notes” means, collectively, those certain 10% Subordinated Promissory Notes in the aggregate principal amount of $500,000,
issued by Borrower pursuant to those certain Securities Purchase Agreements, dated as of August 13, 2018, by and among the Borrower
and the investors from time to time party thereto.

 

“Business
Day” means a day (other than a Saturday or Sunday) on which commercial banks are not authorized or required to close
in New York City.

 

“Calculation
Date” has the meaning set forth in Section 10.02.

 

    	 	-2-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Capital
Lease Obligations” means, as to any Person, the obligations of such Person to pay rent or other amounts under a lease
of (or other agreement conveying the right to use) real and/or personal property which obligations are required to be classified
and accounted for as a capital lease on a balance sheet of such Person under GAAP and, for purposes of this Agreement, the amount
of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP.

 

“Casualty
Event” means the damage, destruction or condemnation, as the case may be, of property of any Person or any of its Subsidiaries
excluding any such property with a fair market value as of the date thereof of less than $1,000,000 per occurrence.

 

“Casualty
Event Reinvestment Notice” has the meaning set forth in Section 3.03(b).

 

“Change
of Control” means at any time of determination, either (i) the acquisition of ownership, directly or indirectly, beneficially
or of record, by any Person (or group of Persons acting jointly or otherwise in concert) (other than the Management Investors)
of Equity Interests of the Borrower having more than thirty-five percent (35%) of the aggregate ordinary voting power, determined
on a fully diluted basis; (ii) the Borrower shall cease to own, directly or indirectly, beneficially and of record, one hundred
percent (100%) of the issued and outstanding Equity Interests of each of its Subsidiaries (except for any such securities in the
nature of directors’ qualifying shares required pursuant to applicable Law), in each case free and clear of all Liens except
Liens created by the Security Documents; (iii) during any period of twelve (12) consecutive calendar months, the occupation of
a majority of the seats (other than vacant seats) on the board of directors of Borrower by Persons who were neither (a) nominated
by the board of directors of Borrower, nor (b) appointed by directors on the board of directors on the date hereof or so nominated;
(iv) the sale of all or substantially all of the property or business of the Borrower and its Subsidiaries, taken as a whole;
or (v) a Key Person Event shall have occurred.

 

“Claims”
includes litigations, claims, demands, complaints, grievances, actions, suits, orders, charges, indictments, prosecutions,
information (brought by a public prosecutor without grand jury indictment) or other similar processes, assessments or reassessments.

 

“Closing
Date” means August 31, 2018.

 

“Closing
Fee” has the meaning set forth in Section 3.04.

 

“Code”
means the Internal Revenue Code of 1986, as amended.

 

“Collateral”
means any asset or property of any Person in which a Lien is purported to be granted under any Loan Document (or all such
property, as the context may require).

 

“Collateral
Questionnaire” means the collateral questionnaire in substantially the form set forth in Exhibit I which shall be delivered
pursuant to Section 6.01(k).

 

    	 	-3-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Commitment”
means the commitment of a Lender to make or otherwise fund a Term Loan and “Commitments” means such commitments
of all Lenders in the aggregate. The amount of each Lender’s Commitment is set forth on Schedule 1. The aggregate Commitments
of all Lenders as of the Closing Date is $7,250,000.

 

“Committee”
has the meaning set forth in Section 8.20.

 

“Commodity
Account” means a “Commodity Account” as defined in the NY UCC.

 

“Compliance
Certificate” has the meaning set forth in Section 8.01(d).

 

“Connection
Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that
are franchise Taxes or branch profits Taxes.

 

“Consolidated
Net Revenue” means revenue of the Borrower and its Subsidiaries determined on a consolidated basis in accordance with
GAAP; provided, however, that Consolidated Net Revenue shall exclude any upfront fees and one-time milestone payments received
by the Borrower or any of its Subsidiaries from a collaboration agreement with a pharmaceutical or biotechnology company other
than those upfront fees in an aggregate amount not to exceed $5,000,000 received by the Borrower or any of its Subsidiaries in
connection with the collaboration agreements contemplated to be entered into on Schedule 10.02.

 

“Contracts”
means any contract, license, lease, agreement, obligation, promise, undertaking, understanding, arrangement, document, commitment,
entitlement or engagement under which a Person has, or will have, any liability or contingent liability (in each case, whether
written or oral, express or implied and whether in respect of monetary or payment obligations, performance obligations or otherwise).

 

“Control”
means, in respect of a particular Person, the possession, directly or indirectly, of the power to direct or cause the direction
of the management or policies of such Person, whether through the ability to exercise voting power, by contract or otherwise.
“Controlling” and “Controlled” have meanings correlative thereto.

 

“Controlled
Account” has the meaning set forth in Section 8.16(a).

 

“Copyright”
means all copyrights, copyright registrations and applications for copyright registrations, including all renewals and extensions
thereof, all rights to recover for past, present or future infringements thereof and all other rights whatsoever accruing thereunder
or pertaining thereto.

 

“Default”
means any Event of Default and any event that has occurred which, upon the giving of notice thereof, or the lapse of time,
or both, would constitute an Event of Default.

 

    	 	-4-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Default
Rate” has the meaning set forth in Section 3.02(b).

 

“Deposit
Account” is defined in the Security Agreement.

 

“Designated
Jurisdiction” means any country or territory to the extent that such country or territory is the subject of any Sanction.

 

“Disqualified
Equity Interests” means, with respect to any Person, any Equity Interest of such Person that, by its terms (or by the
terms of any security or other Equity Interest into which it is convertible or for which it is exchangeable), or upon the happening
of any event or condition (i) matures or is mandatorily redeemable (other than solely for Qualified Equity Interests), including
pursuant to a sinking fund obligation or otherwise, (ii) is redeemable at the option of the holder thereof (other than solely
for Qualified Equity Interests), in whole or in part, (iii) provides for the scheduled payments of dividends in cash, or
(iv) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute
Disqualified Equity Interests, in each case, prior to the date that is one hundred and eighty (180) days after the Maturity Date;
provided that, if such Equity Interests are issued pursuant to any plan for the benefit of directors, officers, employees
or consultants of such Person or by any such plan to such directors, officers, employees or consultants, such Equity Interests
shall not constitute Disqualified Equity Interests solely because they may be required to be repurchased by such Person upon the
death, disability, retirement or termination of employment or service of such director, officer, employee or consultant.

 

“Dollars”
and “$” means lawful money of the United States of America.

 

“EEA
Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country
which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which
is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established
in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is
subject to consolidated supervision with its parent.

 

“EEA
Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

 

“EEA
Resolution Authority” means any public administrative authority or any person entrusted with public administrative authority
of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

 

“Eligible
Transferee” means and includes (i) any commercial bank, (ii) any insurance company, (iii) any finance company, (iv)
any financial institution, (v) any investment fund that invests in loans, (vi) with respect to any Lender, any of its Affiliates,
and (vii) any other “accredited investor” (as defined in Regulation D of the Securities Act) that is principally
in the business of managing investments or holding assets for investment purposes; provided that so long as no Event of
Default has occurred and is continuing, an Eligible Transferee shall not include any competitor of any Obligor.

 

    	 	-5-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Environmental
Law” means any federal, state, provincial or local governmental law, rule, regulation, order, writ, judgment, injunction
or decree, whether U.S. or non-U.S., relating to pollution or protection of the environment or the treatment, storage, disposal,
release, threatened release or handling of hazardous materials, and all local laws and regulations, whether U.S. or non-U.S.,
related to environmental matters and any specific agreements entered into with any Governmental Authorities which include commitments
related to environmental matters.

 

“Equity
Interests” means, with respect to any Person (for purposes of this defined term, an “issuer”), all shares
of, interests or participations in, or other equivalents in respect of such issuer’s capital stock, including all membership
interests, partnership interests or equivalent, and all debt or other securities directly or indirectly exchangeable, exercisable
or otherwise convertible into such issuer’s capital stock, whether outstanding as of the Closing Date or issued after the
Closing Date, and in each case however designated and whether voting or non-voting.

 

“ERISA”
means the United States Employee Retirement Income Security Act of 1974, as amended.

 

“ERISA
Affiliate” means, collectively, any Obligor, Subsidiary thereof, and any Person under common control, or treated as
a single employer, with any Obligor or Subsidiary thereof, within the meaning of Section 414(b), (c) or, solely with respect
to Code Section 412 or ERISA Section 302, (m) or (o) of the Code.

 

“ERISA
Event” means (i) a reportable event as defined in Section 4043 of ERISA with respect to a Title IV Plan,
excluding, however, such events as to which the PBGC by regulation has waived the requirement of Section 4043(a) of ERISA
that it be notified within thirty (30) days of the occurrence of such event; (ii) a withdrawal by any Obligor or any
ERISA Affiliate thereof from a Title IV Plan or the termination of any Title IV Plan resulting in liability under Sections 4063
or 4064 of ERISA; (iii) the withdrawal of any Obligor or any ERISA Affiliate thereof in a complete or partial withdrawal
(within the meaning of Section 4203 and 4205 of ERISA) from any Multiemployer Plan if there is any liability therefore, or
the receipt by any Obligor or any ERISA Affiliate thereof of notice from any Multiemployer Plan that it is in insolvency pursuant
to 4245 of ERISA; (iv) the filing of a notice of intent to terminate, the treatment of a plan amendment as a termination
under Section 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Title IV Plan or
Multiemployer Plan; (v) the imposition of liability on any Obligor or any ERISA Affiliate thereof pursuant to Sections 4062(e)
or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (vi) the failure by any Obligor or any
ERISA Affiliate thereof to make any required contribution to a Title IV Plan, or the failure to meet the minimum funding standard
of Section 412 of the Code with respect to any Title IV Plan (whether or not waived in accordance with Section 412(c)
of the Code) or the failure to make by its due date a required installment under Section 430 of the Code with respect to
any Title IV Plan or the failure to make any required contribution to a Multiemployer Plan; (vii) the determination
that any Title IV Plan is considered an at-risk plan or a plan in endangered to critical status within the meaning of Sections 430,
431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; (viii) an event or condition which would reasonably be
expected to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer,
any Title IV Plan or Multiemployer Plan; (ix) the imposition of any liability under Title I or Title IV of ERISA,
other than PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any Obligor or any ERISA Affiliate thereof;
(x) an application for a funding waiver under Section 412 of the Code or an extension of any amortization period pursuant to Section
433 of the Code with respect to any Title IV Plan; or (xi) the imposition of any lien (or the fulfillment of the conditions
for the imposition of any lien) on any of the rights, properties or assets of any Obligor or any ERISA Affiliate thereof, pursuant
to Title IV of ERISA, 303(k) of ERISA or Section 430(k) of the Code.

 

    	 	-6-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“EU
Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association
(or any successor Person), as in effect from time to time.

 

“Event
of Default” has the meaning set forth in Section 11.01.

 

“Excess
Funding Guarantor” has the meaning set forth in Section 12.08.

 

“Excess
Payment” has the meaning set forth in Section 12.08.

 

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

 

“Excluded
Account” means, collectively, (i) accounts used exclusively for payroll, the withheld employee portion of payroll taxes
and other employee wage and benefit payments, and (ii) fiduciary and other trust accounts.

 

“Excluded
Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted
from a payment to a Recipient: (i) Taxes imposed on or measured by net income (however denominated), franchise Taxes and
branch profits Taxes, in each case, (x) imposed as a result of such Recipient being organized under the laws of, or having
its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax
(or any political subdivisions thereof) or (y) that are Other Connection Taxes, (ii) in the case of a Lender, U.S. federal
withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a
Term Loan or Commitment pursuant to a law in effect on the date on which (1) such Lender acquires such interest in the Term
Loan or Commitment (other than pursuant to an assignment request by the Borrower pursuant to Section 5.03(h)) or (2) such
Lender changes its lending office, except in each case to the extent that, pursuant to Section 5.03, amounts with respect
to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such
Lender immediately before it changed its lending office, (iii) Taxes attributable to such Recipient’s failure to comply
with Section 5.03(f), and (iv) any withholding Taxes imposed under FATCA.

 

    	 	-7-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Fair
Share” has the meaning set forth in Section 12.08.

 

“FATCA”
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that
is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations
thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, and any fiscal or regulatory legislation,
rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and
implementing such Sections of the Code.

 

“FD&C
Act” means the U.S. Food, Drug and Cosmetic Act of 1938 (or any successor thereto), as amended from time to time,
and the rules, regulations, guidelines, guidance, documents and compliance policy guides issued or promulgated thereunder.

 

“FDA”
means the U.S. Food and Drug Administration and any successor entity.

 

“Foreign
Lender” means a Lender (or, if the Lender is a disregarded entity for U.S. federal income tax purposes, the Person
treated as the owner of the assets of such Lender for U.S. federal income tax purposes) that is not a U.S. Person.

 

“Foreign
Subsidiary” means a Subsidiary of the Borrower that is not incorporated, formed or organized under the laws of the United
States, any State of the United States or the District of Columbia.

 

“GAAP”
means generally accepted accounting principles in the United States of America, as in effect from time to time, set forth
in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants,
in the statements and pronouncements of the Financial Accounting Standards Board and in such other statements by such other entity
as may be in general use by significant segments of the accounting profession that are applicable to the circumstances as of the
date of determination. The definition of GAAP shall be subject to Sections 1.02 and 1.04.

 

“Governmental
Approval” means any required consent, authorization, approval, order, license, franchise, permit, certification, accreditation,
registration, clearance, exemption, filing or notice that is issued or granted by or from (or pursuant to any act of) any applicable
Governmental Authority, including any application or submission related to any of the foregoing.

 

“Governmental
Authority” means any nation, government, branch of power (whether executive, legislative or judicial), state, province
or municipality or other political subdivision thereof and any entity exercising executive, legislative, judicial, monetary, regulatory
or administrative functions of or pertaining to government, including without limitation regulatory authorities, governmental
departments, agencies, commissions, bureaus, officials, ministers, courts, bodies, boards, tribunals and dispute settlement panels,
and other law-, rule- or regulation-making organizations or entities of any state, territory, county, city or other political
subdivision of any country, in each case whether U.S. or non-U.S.

 

    	 	-8-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other monetary obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect,
(i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation
or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof, (ii) to purchase
or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other monetary obligation
of the payment thereof, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity
of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other monetary obligation, or (iv) as
an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or monetary obligation;
provided that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business.
The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary
obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably
anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.

 

“Guarantee
Assumption Agreement” means a Guarantee Assumption Agreement substantially in the form of Exhibit C by an entity
that, pursuant to Section 8.12(a), is required to become a “Subsidiary Guarantor.”

 

“Guaranteed
Obligations” has the meaning set forth in Section 12.01.

 

“Hazardous
Material” means any substance, element, chemical, compound, product, solid, gas, liquid, waste, by-product, pollutant,
contaminant or material which is hazardous or toxic, and includes, without limitation, (i) asbestos, polychlorinated biphenyls
and petroleum (including crude oil or any fraction thereof) and (ii) any material classified or regulated as “hazardous”
or “toxic” or words of like import pursuant to an Environmental Law.

 

“Hedging
Agreement” means any interest rate exchange agreement, foreign currency exchange agreement, commodity price protection
agreement or other interest or currency exchange rate or commodity price hedging arrangement.

 

“HIPAA”
means the Health Insurance Portability and Accountability Act of 1996, as amended by the Health Information Technology for
Economic and Clinical Health Act of the American Recovery and Reinvestment Act of 2009.

 

    	 	-9-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Icagen-T”
means Icagen-T, Inc., a Delaware corporation.

 

“Icagen-T
Credit Agreement” means that certain Credit Agreement and Guaranty, dated as of the date hereof, by and among Icagen-T,
as borrower, the lenders from time to time party thereto and Perceptive Credit Holdings II, LP, as administrative agent (as amended,
restated, supplemented or otherwise modified from time to time).

 

“Icagen-T
Loan Documents” has the meaning ascribed to the term “Loan Documents” in the Icagen-T Credit Agreement.

 

“Icagen-T
MSA” means that certain Master Services Agreement dated as of July 15, 2016, by and among Icagen-T and Sanofi US Services
Inc.

 

“Impermissible
Qualification” means any qualification or exception to the opinion or certification of any independent public accountant
as to any financial statement of the Borrower or any of its Subsidiaries which is of a “going concern” or similar
nature.

 

“Indebtedness”
of any Person means, without duplication, (i) all obligations of such Person for borrowed money, (ii) all obligations
of such Person evidenced by bonds, debentures, notes or similar instruments, (iii) all obligations of such Person upon which
interest charges are customarily paid, (iv) all obligations of such Person in respect of the deferred purchase price of property
or services or under conditional sale or other title retention agreements relating to property acquired by such Person, and including
any purchase price adjustments or indemnity requirements incurred in connection with any Permitted Acquisition (excluding current
trade accounts payable incurred in the ordinary course of business), (v) all Indebtedness of others secured by (or for which
the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or
acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (vi) all Guarantees by such Person
of Indebtedness of others, (vii) all Capital Lease Obligations of such Person, (viii) all obligations, contingent or
otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (ix) obligations under
any Hedging Agreement, currency swaps, forwards, futures or derivatives transactions, (x) all obligations, contingent or
otherwise, of such Person in respect of bankers’ acceptances, (xi) all obligations of such Person under license or
other agreements containing a guaranteed minimum payment or purchase by such Person, other than operating leases entered into
in the ordinary course of business and any such license or other agreement for the purchase or use of goods, software and other
intangibles, services or supplies in the ordinary course of business and (xii) any Disqualified Equity Interests of such
Person. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which
such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest
in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not
liable therefor.

 

“Indemnified
Party” has the meaning set forth in Section 14.03(c).

 

    	 	-10-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Indemnified
Taxes” means (i) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account
of any Obligation and (ii) to the extent not otherwise described in clause (i), Other Taxes.

 

“Industrial
Designs” has the meaning set forth in the Security Documents.

 

“Insolvency
Proceeding” means (i) any case, action or proceeding before any court or other Governmental Authority relating
to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, or (ii) any
general assignment for the benefit of creditors, composition, marshaling of assets for creditors, or other similar arrangement
in respect of any Person’s creditors generally or any substantial portion of such Person’s creditors, in each case
undertaken under U.S. Federal, state or foreign Law, including the Bankruptcy Code.

 

“Intellectual
Property” means all Patents, Trademarks, Copyright, Industrial Designs, Technical Information and other intellectual
property, whether registered or not and whether existing under, U.S. or non-U.S. Law or jurisdiction, including (without limitation)
all of the following: (i) all applications or registrations relating to the foregoing; (ii) all rights and privileges arising
under any applicable Law with respect to the foregoing; (iii) rights to sue for past, present or future infringements of such
Intellectual Property; and (iv) all rights of the same or similar effect or nature in any jurisdiction corresponding to such Intellectual
Property anywhere in the world.

 

“Interest
Period” means (a) the period commencing on (and including) the Closing Date and ending on (and including) the last
day of the calendar month in which the Closing Date occurs, and (b) thereafter, the period beginning on (and including) the
first day of each succeeding calendar month and ending on the earlier of (and including) (x) the last day of such calendar
month and (y) the Maturity Date.

 

“Interest
Rate” means the sum of (i) the Applicable Margin plus (ii) the greater of (x) the Reference Rate and
(y) two and one-quarter percent (2.25%).

 

“Invention”
means any novel, inventive or useful art, apparatus, method, process, machine, manufacture or composition of matter, or any
novel, inventive and useful improvement in any art, method, process, machine, manufacture or composition of matter.

 

“Investment”
means, for any Person: (i) any direct or indirect acquisition or investment by such Person, whether by means of (a) the
purchase or other acquisition of Equity Interests or debt or other securities of another Person, (ii) a loan, advance or capital
contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation
or interest in, another Person, including any partnership or joint venture interest in such other Person, or (iii) the purchase
or other acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or
business of another Person or assets constituting a business unit, line of business or division of such Person. The amount of
an Investment will be determined at the time the Investment is made without giving effect to any subsequent changes in value.

 

    	 	-11-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“IRS”
means the U.S. Internal Revenue Service or any successor agency.

 

“Key
Person” means Richard Cunningham or such other person as may be acceptable by the Lenders as Richard Cunningham’s
replacement pursuant to the definition of “Key Person Event.”

 

“Key
Person Event” means that (a) the Key Person (i) ceases to hold the office of chief executive officer (or equivalent)
of Borrower or fails to be directly and actively involved in the day to day management and direction of Borrower and its Subsidiaries
and a successor reasonably acceptable to the Lenders shall not have been appointed within 90 days of such cessation, or (ii) becomes
or is an employee, manager or officer of any entity other than Borrower and its Subsidiaries and (b) Tim Tyson is no longer serving
as the Chairman of the Board of the Borrower.

 

“Landlord
Consent” means a Landlord Consent substantially in the form of Exhibit G or in a form otherwise reasonably satisfactory
to the Administrative Agent.

 

“Law”
means any U.S. or non-U.S. federal, state, provincial, territorial, municipal or local statute, treaty, rule, guideline, regulation,
ordinance, code or administrative or judicial precedent or authority, including any interpretation or administration thereof by
any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative
orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in
each case, whether or not having the force of law.

 

“Lenders”
has the meaning set forth in the preamble hereto.

 

“Lien”
means any mortgage, lien, pledge, charge or other security interest, or any lease, title retention agreement, easement, right-of-way
or other encumbrance of any kind or character whatsoever or any preferential arrangement that has the practical effect of creating
a security interest.

 

“Loan
Documents” means, collectively, this Agreement, the Notes, the Warrant, the Security Documents, the Series C Preferred
Subordination Agreement, the Guarantee Assumption Agreements and any subordination agreement, intercreditor agreement or other
present or future document, instrument, agreement or certificate delivered to any Lender in connection with this Agreement or
any of the other Loan Documents, in each case, as amended, restated, supplemented or otherwise modified.

 

“Loss”
means any judgment, debt, liability, expense, cost, damage or loss, contingent or otherwise, whether liquidated or unliquidated,
matured or unmatured, disputed or undisputed, contractual, legal or equitable, including loss of value, professional fees, including
reasonable fees and disbursements of legal counsel, and all costs incurred in investigating or pursuing any Claim or any proceeding
relating to any Claim.

 

    	 	-12-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Majority
Lenders” means, at any time, Lenders having at such time in excess of fifty percent (50%) of the aggregate Commitments
(or, if such Commitments are terminated, the outstanding principal amount of the Term Loan) then in effect.

 

“Management
Investors” means any current directors, officers, management and/or employees of the Borrower or any of its Subsidiaries
and any of their respective family members, trusts or other estate planning vehicles and any Person owned or controlled by any
of the foregoing, in each case, holding, beneficially or of record, Equity Interests in the Borrower.

 

“Margin
Stock” means “margin stock” within the meaning of Regulations T, U and X.

 

“Material
Adverse Change” and “Material Adverse Effect” mean a material adverse change in or effect on (i) the
business, condition (financial or otherwise), operations or performance of the Borrower and its Subsidiaries, taken as a whole,
(ii) the ability of either (x) the Borrower or (y) the Obligors, taken as a whole, to perform its or their, as
the case may be, obligations under the Loan Documents, as and when due or (iii) the legality, validity, binding effect or
enforceability of any Loan Document or the rights and remedies of any Secured Party under any of the Loan Documents.

 

“Material
Agreement” means (i) any Contract to which any Obligor or any of its properties is bound or subject to and which
is listed on Schedule 7.14, (ii) any other Contract to which any Obligor is a party or a beneficiary from time to time, the absence
or termination of which could reasonably be expected to result in a Material Adverse Effect, and (iii) any other Contract to which
any Obligor is a party that during any period of 12 consecutive months is reasonably expected to (1) result in payments or receipts
(including royalty, licensing or similar payments) made to any Obligor or any of its Subsidiaries in an aggregate amount in excess
of $1,000,000 or (2) require payments or expenditures (including royalty, licensing or similar payments) to be made by any Obligor
or any of its Subsidiaries in an aggregate amount in excess of $1,000,000.

 

“Material
Indebtedness” means, at any time, any Indebtedness of any Obligor (excluding intercompany Indebtedness among Obligors
and/or their Subsidiaries to the extent permitted hereunder), the outstanding principal amount of which, individually or in the
aggregate, exceeds $500,000.

 

“Material
Intellectual Property” means (i) all Obligor Intellectual Property listed in Schedule 7.05(c) and (ii) all other
Obligor Intellectual Property, whether currently owned or licensed or acquired, developed or otherwise licensed or obtained after
the date hereof (a) the loss of which could reasonably be expected to have a Material Adverse Effect or (b) that has a fair market
value in excess of $500,000.

 

    	 	-13-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Maturity
Date” means August 31, 2022.

 

“Multiemployer
Plan” means any multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which any ERISA Affiliate incurs
or otherwise has any obligation or liability, contingent or otherwise.

 

“Net
Cash Proceeds” means, with respect to any Casualty Event, the amount of cash proceeds received (directly or indirectly)
from time to time by or on behalf of any Obligor after deducting therefrom only (w) reasonable fees, costs and expenses related
thereto incurred by such Obligor in connection therewith, (x) amounts required to be repaid on account of any Permitted Indebtedness
or other obligations (other than the Obligations) required to be repaid as a result of such Casualty Event, (y) amounts required
to be reserved in accordance with GAAP for indemnities and against liabilities associated with the property damaged, destructed
or condemned in such Casualty Event and (z) Taxes (including transfer Taxes or net income Taxes) paid or payable in connection
therewith; provided that amounts specified therein in respect of costs, expenses or repayments shall only be deducted from
aggregate cash proceeds to the extent such amounts are (1) actually paid to a Person that is not an Affiliate of the Borrower
or any of its Subsidiaries and (2) properly attributable to such Casualty Event.

 

“Note”
means a promissory note, in substantially the form of Exhibit A hereto, executed and delivered by the Borrower to any
Lender in accordance with Section 2.02.

 

“NY
UCC” means the UCC as in effect from time to time in New York.

 

“Obligations”
means, with respect to any Obligor, all amounts, obligations, liabilities, covenants and duties of every type and description
owing by such Obligor to any Secured Party (including all Guaranteed Obligations and the Warrant Obligations), arising out of,
under, or in connection with, any Loan Document, whether direct or indirect (regardless of whether acquired by assignment), absolute
or contingent, due or to become due, whether liquidated or not, now existing or hereafter arising and however acquired, and whether
or not evidenced by any instrument or for the payment of money, including, without duplication, (i) if such Obligor is the
Borrower, the Term Loan, (ii) all interest accruing under the Loan Documents, whether or not accruing after the filing of
any petition in bankruptcy or after the commencement of any insolvency, reorganization or similar proceeding, and whether or not
a claim for post-filing or post-petition interest is allowed in any such proceeding, and (iii) all other fees, expenses (including
fees, charges and disbursement of counsel), interest, commissions, charges, costs, disbursements, indemnities and reimbursement
of amounts paid and other sums, in each case, chargeable to such Obligor under any Loan Document.

 

“Obligor
Intellectual Property” means, at any time of determination, Intellectual Property owned by any of the Obligors at such
time including, without limitation, the Intellectual Property listed on Schedule 7.05(b).

 

    	 	-14-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Obligors”
means, collectively, the Borrower and the Subsidiary Guarantors and their respective successors and permitted assigns.

 

“Observer”
has the meaning set forth in Section 8.20.

 

“One-Month
LIBOR” means, with respect to any applicable Interest Period hereunder, the one-month London Interbank Offered Rate
for deposits in Dollars, as determined by the Administrative Agent from the appropriate Bloomberg or Telerate page selected by
the Administrative Agent (or any successor thereto or similar source reasonably determined by the Administrative Agent from time
to time), which shall be that one-month London Interbank Offered Rate for deposits in Dollars in effect at approximately 11:00 a.m.
(London, England time) two (2) Business Days prior to the first Business Day of such Interest Period rounded up to the nearest
1/100 of one percent (1%). The Administrative Agent’s determination of interest rates shall be determinative in the absence
of manifest error.

 

“Organic
Document” means, for any Person, its certificate of incorporation, by-laws, certificate of partnership, partnership
agreement, certificate of formation, limited liability agreement, operating agreement and all shareholder agreements, voting trusts
and similar arrangements applicable to such Person’s Equity Interests.

 

“Other
Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection
between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed,
delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest
under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in the Term
Loan or Loan Document).

 

“Other
Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt
or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other
Connection Taxes imposed with respect to an assignment (other than an assignment made at the request of the Borrower pursuant
to Section 5.03(h)).

 

“Participant”
has the meaning set forth in Section 14.05(e).

 

“Participant
Register” has the meaning set forth in Section 14.05(e).

 

“Patents”
means all patents and patent applications, including the inventions and improvements described and claimed therein together
with the reissues, divisions, continuations, renewals, extensions and continuations in part thereof, all income, royalties, damages
and payments now or hereafter due and/or payable with respect thereto, all damages and payments for past or future infringements
thereof and rights to sue therefor, and all rights corresponding thereto throughout the world.

 

    	 	-15-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Payment
Date” means (i) the last day of each Interest Period and (ii) the Maturity Date; provided that, in the event
any such day is not a Business Day, then the payment due on such day shall be payable on the next occurring Business Day.

 

“Pay-Off
Indebtedness” means the Indebtedness listed on Schedule 7.13(b).

 

“Pay-Off
Letters” means each payoff letter in respect of the Pay-Off Indebtedness, in form and substance reasonably satisfactory
to the Administrative Agent.

 

“PBGC”
means the United States Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing
similar functions.

 

“Permitted
Acquisition” means any Acquisition by the Borrower or any of its Subsidiaries whether by purchase, merger or otherwise,
of (i) all or substantially all of the assets of any U.S. Person, (ii) more than fifty percent (50%) of all voting Equity Interests
of any U.S. Person (determined on a fully diluted basis), (iii) an entire business line or unit or division of any U.S. Person
or (iv) any other asset or assets (other than assets in the nature of inventory acquired in the ordinary course of business) located
in the United States; provided that:

 

(a) immediately
prior to, and after giving effect thereto, no Default or Event of Default shall have occurred and be continuing or would reasonably
be expected to result therefrom;

 

(b) all
transactions in connection therewith shall be consummated, in all material respects, in accordance with all applicable Laws, and
in conformity in all material respects with all applicable Governmental Approvals;

 

(c) in
the case of the Acquisition of any Equity Interests of any Person, all of such Equity Interests shall be majority owned by Borrower
or its Subsidiaries, and the Borrower shall have taken or caused to be taken, as of the date such Equity Interests are acquired,
all necessary actions to comply with Section 8.12(a), as applicable;

 

(d) in
the case of the Acquisition of assets, all assets acquired shall be owned by Borrower or its Subsidiaries, and the Borrower shall
have taken or caused to be taken, as of the date the assets are acquired, all necessary actions to comply with Section 8.12(a),
as applicable;

 

(e) such
Person (in the case of an Acquisition of Equity Interests) or assets (in the case of an Acquisition of assets or a division) shall
be engaged or used, as the case may be, in substantially the same business or lines of business in which the Borrower and its
Subsidiaries are engaged as of the Closing Date or a business reasonably related, incidental or complimentary thereto or a reasonable
extension thereof or a business having a similar customer base;

 

    	 	-16-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(f) on
a pro forma basis after giving effect to such Acquisition, the Borrower and its Subsidiaries shall be in compliance with the financial
covenants set forth in Section 10;

 

(g) the
aggregate consideration for all such Acquisitions together with all Acquisitions permitted under the Icagen-T Credit Agreement
does not exceed $1,000,000 in cash in any fiscal year;

 

(h) the
Borrower shall have provided the Administrative Agent with at least fifteen (15) Business Days’ prior written notice of
any such Acquisition, together with summaries, prepared in reasonable detail, of all due diligence conducted by or on behalf of
the Borrower or the applicable Subsidiary prior to such Acquisition;

 

(i) the
Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower (prepared in reasonable detail),
certifying as to any contingent liabilities and, to the extent applicable, prospective research and development costs associated
with the Person or assets being acquired; and

 

(j) all
of the assets or Equity Interests acquired in connection with such Acquisition shall be of a U.S. Person.

 

“Permitted
Cash Equivalent Investments” means (i) marketable direct obligations issued or unconditionally guaranteed by the
United States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition,
(ii) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard
& Poor’s Ratings Group or Moody’s Investors Service, Inc., (iii) time deposits with, or insured certificates
of deposit or banker’s acceptances of, any commercial bank that (x) is organized under the laws of the United States
or is the principal banking subsidiary of a bank holding company organized under the laws of the United States and is a member
of the Federal Reserve System and (y) has combined capital and surplus of at least $1,000,000,000, in each case with maturities
of not more than one (1) year from the date of acquisition, and (iv) any money market funds at least ninety-five percent
(95%) of the assets of which constitute investments of the type described in clauses (i), (ii) or (iii) above.

 

“Permitted
Indebtedness” means any Indebtedness permitted under Section 9.01.

 

“Permitted
Liens” means any Liens permitted under Section 9.02.

 

    	 	-17-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Permitted
Priority Liens” means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

 

“Permitted
Refinancing” means, with respect to any Permitted Indebtedness, any extension, renewal, replacement or refinancing of
such Indebtedness; provided that such extension, renewal, replacement or refinancing (i) shall not increase the outstanding
principal amount of such Indebtedness except by accrued and unpaid interest and premiums thereon and fees and expenses associated
with such extension, renewal, replacement or refinancing, (ii) contains terms relating to outstanding principal amount, amortization,
maturity, collateral (if any) and subordination (if any), and other material terms taken as a whole no less favorable in any material
respect to the Borrower and its Subsidiaries or the Secured Parties than the terms of any agreement or instrument governing the
Indebtedness being extended, renewed, replaced or refinanced, (iii) shall have an applicable interest rate or equivalent
yield which does not exceed the interest rate or equivalent yield of the Indebtedness being extended, renewed, replaced or refinanced,
(iv) shall not contain any new requirement to grant any Lien or to give any Guarantee that was not an existing requirement
of the Indebtedness being extended, renewed, replaced or refinanced and (v) after giving effect to such extension, renewal,
replacement or refinancing, no Default or Event of Default shall have occurred (or would reasonably be expected to occur) as a
result thereof.

 

“Person”
means any individual, corporation, company, voluntary association, partnership, limited liability company, joint venture,
trust, unincorporated organization or Governmental Authority or other entity of whatever nature.

 

“Prepayment
Date” has the meaning set forth in Section 3.03(a)(i).

 

“Prepayment
Premium” means with respect to any prepayment of principal of the Term Loan referenced in Section 3.03(a) occurring
(i) on or prior to the first anniversary of the Closing Date, an amount equal to twelve percent (12%) of the aggregate outstanding
principal amount of the Term Loan being prepaid, (ii) at any time after the first anniversary of the Closing Date and on
or prior to the second anniversary of the Closing Date, an amount equal to eight percent (8%) of the aggregate outstanding principal
amount of the Term Loan being prepaid; and (iii) at any time after the second anniversary of the Closing Date and on or prior
to the third anniversary of the Closing Date, an amount equal to three percent (3%) of the aggregate outstanding principal amount
of the Term Loan being prepaid on such Prepayment Date.

 

“Prepayment
Price” has the meaning set forth in Section 3.03(a)(i).

 

“Product”
means any future product developed, manufactured, licensed, marketed, sold or otherwise commercialized by any Obligor, including
any such product in development or which may be developed, in each case related to Material Intellectual Property.

 

    	 	-18-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Product
Commercialization and Development Activities” means, with respect to any Product, any combination of research, development,
manufacture, importation, use, sale, storage, design, labeling, marketing, promotion, supply, distribution, testing, packaging,
purchasing or other commercialization activities, receipt of payment in respect of any of the foregoing, or like activities the
purpose of which is to commercially exploit such Product.

 

“Prohibited
Payment” means any bribe, rebate, payoff, influence payment, kickback or other payment or gift of money or anything
of value (including meals or entertainment) to any officer, employee or ceremonial office holder of any government or instrumentality
thereof, political party or supra-national organization (such as the United Nations), any political candidate, any royal family
member or any other person who is connected or associated personally with any of the foregoing that is prohibited under any applicable
Law for the purpose of influencing any act or decision of such payee in his official capacity, inducing such payee to do or omit
to do any act in violation of his lawful duty, securing any improper advantage or inducing such payee to use his influence with
a government or instrumentality thereof to affect or influence any act or decision of such government or instrumentality.

 

“Proportionate
Share” means, with respect to any Lender, the percentage obtained by dividing (i) the sum of the Commitment (or,
if the Commitments are terminated, the outstanding principal amount of the Term Loan) of such Lender then in effect by (ii) the
sum of the Commitments (or, if the Commitments are terminated, the outstanding principal amount of the Term Loan) of all Lenders
then in effect.

 

“Qualified
Equity Interest” means, with respect to any Person, any Equity Interest of such Person that is not a Disqualified Equity
Interest.

 

“Real
Property Security Documents” means any Landlord Consents, Bailee Letters, any mortgage or deed of trust or any other
real property security document executed or required hereunder to be executed by any Obligor and granting a security interest
in real property owned or leased (as tenant) by any Obligor in favor of the Secured Parties.

 

“Recipient”
means any Lender or the Administrative Agent.

 

“Reference
Rate” means One-Month LIBOR; provided that, if One-Month LIBOR can no longer be determined by the Administrative
Agent (in its sole discretion) or any Governmental Authority having jurisdiction over the quotation or determination of the London
Interbank Offered Rates declares that it will no longer supervise or sanction such rates for purposes of interest rates on loans,
then the Reference Rate for purposes hereof and of each other Loan Document shall be a comparable rate as may be selected by the
Administrative Agent in its reasonable discretion.

 

“Register”
has the meaning set forth in Section 14.05(d).

 

“Regulation
T” means Regulation T of the Board of Governors of the Federal Reserve System, as amended.

 

    	 	-19-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Regulation
U” means Regulation U of the Board of Governors of the Federal Reserve System, as amended.

 

“Regulation
X” means Regulation X of the Board of Governors of the Federal Reserve System, as amended.

 

“Regulatory
Approvals” means any registrations, licenses, authorizations, permits or approvals issued by any Governmental Authority
and applications or submissions related to any of the foregoing.

 

“Regulatory
Authority” means any Governmental Authority that is concerned with or has regulatory oversight with respect to the use,
control, safety, efficacy, reliability, manufacturing, marketing, distribution or sale relating to the business of an Obligor,
including the FDA and all equivalent of such agencies in other jurisdictions.

 

“Related
Fund” means, with respect to any Lender, a fund which is managed or advised by the same investment manager or investment
adviser as such Lender or, if it is managed by a different investment manager or investment adviser, a fund whose investment manager
or investment adviser is an Affiliate of the investment manager or investment adviser of such Lender.

 

“Related
Parties” has the meaning set forth in Section 14.16.

 

“Resignation
Effective Date” has the meaning set forth in Section 13.06(a).

 

“Responsible
Officer” of any Person means each of the president, chief executive officer, chief financial officer and similar officer
of such Person.

 

“Restricted
Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any
Equity Interests of the Borrower or any of its Subsidiaries, or any payment (whether in cash, securities or other property), including
any (i) sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination
of any such shares of capital stock of the Borrower or any of its Subsidiaries, (ii) payment of interest, principal or fees in
respect of Indebtedness owed by the Borrower to any holder of any capital stock of the Borrower or (iii) option, warrant or other
right to acquire any such shares of capital stock of the Borrower or any of its Subsidiaries.

 

“Restrictive
Agreement” means any indenture, agreement, instrument or other arrangement that prohibits, restricts or imposes any
condition upon (i) the ability of the Borrower or any other Obligor to create, incur or permit to exist any Lien (other than
Permitted Liens) upon any of its property or assets (other than (x) customary provisions in contracts (including without
limitation leases and licenses of Intellectual Property) restricting the assignment thereof or, in the case of any lease or license,
the sublease or sublicense or other disposition of the applicable leased or licensed property, (y) restrictions or conditions
imposed by any agreement governing secured Permitted Indebtedness permitted under Section 9.01(g), to the extent that such
restrictions or conditions apply only to the property or assets securing such Indebtedness and (z) restrictions in agreements
related to any Asset Sale to the extent such Asset Sale would be a permitted Asset Sale under this Agreement), or (ii) the
ability of any Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock or to make or
repay loans or advances to the Borrower or any other Obligor or the ability of any Subsidiary to guarantee Indebtedness of the
Borrower or any other Obligor to the extent such guarantee is required by Section 8.12.

 

    	 	-20-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Sanction”
means any international economic sanction administered or enforced by the United States Government (including, without limitation,
OFAC), the United Nations Security Council, the European Union or its Member States, Her Majesty’s Treasury or other similar
relevant sanctions authority.

 

“SEC”
means the U.S. Securities and Exchange Commission.

 

“Secured
Parties” means the Lenders, the Administrative Agent, each other Indemnified Party, any other holder of any Obligation,
and any of their respective permitted transferees or assigns.

 

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

 

“Security
Agreement” means the Security Agreement, dated as of the Closing Date and substantially in the form of Exhibit H hereto,
among the grantors party thereto and the Administrative Agent, granting a security interest in the Obligors’ personal property
in favor of the Administrative Agent.

 

“Security
Documents” means, collectively, the Security Agreement, each Short-Form IP Security Agreement, each Real Property Security
Document and each other security document, control agreement or financing statement required or recommended to perfect Liens in
favor of the Secured Parties for purposes of securing the Obligations.

 

“Securities
Account” has the meaning given to it in Section 8-501(a) of the NY UCC.

 

“Series
C Holders” means any holder of the Series C Preferred Stock.

 

“Series
C Preferred Stock” means the Borrower’s Series C Convertible Redeemable Preferred Stock.

 

“Series
C Preferred Subordination Agreement” means that certain Series C Preferred Subordination Agreement, dated as of the
Closing Date, among the Series C Holders, the Borrower and the Administrative Agent, pursuant to which the Series C Holders subordinate
all rights to cash payments owed such Series C Holders by Borrower due to such Series C Holders’ ownership of Series C Preferred
Stock until the Obligations (other than Warrant Obligations) have been paid in full.

 

    	 	-21-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Short-Form
IP Security Agreements” means short-form patent, trademark or copyright (as the case may be) security agreements, substantially
in the forms of Exhibits J, K and L to this Agreement, as applicable, entered into by one (1) or more Obligors in favor of the
Administrative Agent for the benefit of each Secured Party.

 

“Solvent”
means, with respect to any Person at any time, that (i) the present fair saleable value of the property of such Person
is greater than the total amount of liabilities (including contingent liabilities) of such Person, (ii) the present fair
saleable value of the property of such Person is not less than the amount that will be required to pay the probable liability
of such Person on its debts as they become absolute and matured and (iii) such Person has not incurred and does not intend
to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities
as they mature.

 

“Subsidiary”
means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company,
partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s
consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well
as any other corporation, limited liability company, partnership, association or other entity of which securities or other
ownership interests representing more than fifty percent (50%) of the equity or more than fifty percent (50%) of the ordinary
voting power or, in the case of a partnership, more than fifty percent (50%) of the general partnership interests are, as of such
date, directly or indirectly, owned, controlled or held.

 

“Subsidiary
Guarantors” means each Subsidiary of the Borrower identified under the caption “SUBSIDIARY GUARANTORS” on
the signature pages hereto and each Subsidiary of the Borrower that becomes, or is required to become, a “Subsidiary Guarantor”
after the date hereof pursuant to Section 8.12(a).

 

“Taxes”
means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable
thereto.

 

“Technical
Information” means all trade secrets and other proprietary or confidential information, public information, non-proprietary
know-how, any information of a scientific, technical, or business nature in any form or medium, standards and specifications,
conceptions, ideas, innovations, discoveries, Invention disclosures, all documented research, developmental, demonstration or
engineering work and all other information, data, plans, specifications, reports, summaries, experimental data, manuals, models,
samples, know-how, technical information, systems, methodologies, computer programs, information technology and any other information.

 

    	 	-22-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Term
Loan” means each loan advanced by a Lender pursuant to Section 2.01(a). For purposes of clarification, any calculation
of the aggregate outstanding principal amount of the Term Loan on any date of determination shall mean the aggregate principal
amount of the Term Loan made pursuant to Section 2.01(a) that has not yet been repaid as of such date.

 

“Title IV
Plan” means an employee benefit plan (as defined in Section 3(3) of ERISA) other than a Multiemployer Plan (i) that
is or within the last six years was maintained or sponsored by any Obligor or any ERISA Affiliate thereof or to which any Obligor
or any ERISA Affiliate thereof within the last six years made, or was obligated to make, contributions, and (ii) that is
or was subject to Section 412 of the Code, Section 302 of ERISA or Title IV of ERISA.

 

“Trademarks”
means all trade names, trademarks and service marks, logos, trademark and service mark registrations, and applications for
trademark and service mark registrations, including all renewals of trademark and service mark registrations, all rights to recover
for all past, present and future infringements thereof and all rights to sue therefor, and all rights corresponding thereto throughout
the world, together, in each case, with the product lines and goodwill of the business connected with the use thereof.

 

“Transactions”
means the negotiation, preparation, execution, delivery and performance by each Obligor of this Agreement and the other Loan
Documents to which such Obligor is (or is intended to be) a party, the making of the Term Loan hereunder, and all other transactions
contemplated pursuant to this Agreement and the other Loan Documents.

 

“UCC”
means, with respect to any applicable jurisdictions, the Uniform Commercial Code as in effect in such jurisdiction, as may
be modified from time to time.

 

“United
States” or “U.S.” means the United States of America, its fifty (50) states and the District of Columbia.

 

“U.S.
Person” means a “United States person” within the meaning of Section 7701(a)(30) of the Code.

 

“U.S.
Tax Compliance Certificate” has the meaning set forth in Section 5.03(f)(ii)(B).

 

“Warrant”
means the warrant to be delivered to the Administrative Agent pursuant to Section 6.01 on the Closing Date, that, among
other things, grants the holder thereof the right to purchase the number of shares of common stock of the Borrower as indicated
on the Warrant Shares table on Schedule 1, as the Warrant may be amended, replaced or otherwise modified pursuant to the terms
thereof.

 

“Warrant
Obligations” means all Obligations of the Borrower arising out of, under or in connection with the Warrant.

 

    	 	-23-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

“Withholding
Agent” means the Borrower, any Obligor and the Administrative Agent.

 

“Write-Down
and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of
such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule.

 

 Section
1.02. Accounting Terms and Principles. Unless otherwise specified, all accounting terms used in each Loan Document shall
be interpreted, and all accounting determinations and computations thereunder (including under Section 10 and any definitions
used in such calculations) shall be made, in accordance with GAAP; provided that, for purposes of determining compliance
with any covenant contained in Section 9 or the existence of any Default or Event of Default under Section 11, in determining
whether any lease is required to be accounted for as a capital lease or an operating lease, such determination shall be made based
on GAAP as in effect on the date of this Agreement. Unless otherwise expressly provided, all financial covenants and defined financial
terms shall be computed on a consolidated basis for the Borrower and its Subsidiaries, in each case, without duplication.

 

 Section
1.03. Interpretation. For all purposes of this Agreement, except as otherwise expressly provided herein or unless the context
otherwise requires,

 

(a) the
terms defined in this Agreement include the plural as well as the singular and vice versa;

 

(b) words
importing gender include all genders;

 

(c) any
reference to a Section, Annex, Schedule or Exhibit refers to a Section of, or Annex, Schedule or Exhibit to,
this Agreement;

 

(d) any
reference to “this Agreement” refers to this Agreement, including all Annexes, Schedules and Exhibits hereto, and
the words herein, hereof, hereto and hereunder and words of similar import refer to this Agreement and its Annexes, Schedules
and Exhibits as a whole and not to any particular Section, Annex, Schedule, Exhibit or any other subdivision;

 

(e) references
to days, months and years refer to calendar days, months and years, respectively;

 

(f) all
references herein to “include” or “including” shall be deemed to be followed by the words “without
limitation”;

 

(g) the
word “from” when used in connection with a period of time means “from and including” and the word “until”
means “to but not including”;

 

    	 	-24-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(h) where
any provision in this Agreement or any other Loan Document refers to an action to be taken by any Person, or an action which such
Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly;

 

(i) references
to any Lien granted or created hereunder or pursuant to any other Loan Document securing any Obligations shall be deemed to be
a Lien for the benefit of the Secured Parties;

 

(j) the
words “asset” and “property” shall be construed to have the same meaning and effect and to refer broadly
to any and all assets and properties, whether tangible or intangible, real or personal, including cash, securities, rights under
contractual obligations and permits and any right or interest in any such assets or property except where otherwise noted herein;

 

(k) accounting
terms not specifically defined herein (other than “property” and “asset”) shall be construed in accordance
with GAAP;

 

(l) the
word “will” shall be construed to have the same meaning as the word “shall”; and

 

(m)
 a Schedule shall refer to those Schedules provided as of the date hereof and as may be further updated in accordance with
the terms of this Agreement (which updates, for the avoidance of doubt, shall be acceptable to the Administrative Agent unless
such updates reflect an item that is otherwise prohibited under this Agreement on the date thereof).

 

Unless
otherwise expressly provided herein, references to organizational documents, agreements (including the Loan Documents) and other
contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other
modifications thereto permitted by the Loan Documents.

 

 Section
1.04. Changes to GAAP. Subject to Section 1.02, if, after the date hereof, any change occurs in GAAP or in the application
thereof and such change would cause any amount required to be determined for the purposes of the covenants to be maintained or
calculated pursuant to Section 8, 9 or 10 to be materially different than the amount that would be determined prior to such
change, then:

 

(a) the
Borrower will provide a detailed notice of such change (an “Accounting Change Notice”) to the Administrative
Agent within thirty (30) days after a Responsible Officer’s learning that such change would so impact the covenants and
calculations hereunder;

 

    	 	-25-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) either
the Borrower or the Administrative Agent may indicate within ninety (90) days following the date of the Accounting Change Notice
that they wish to revise the method of calculating such covenants or amend any such amount, in which case the parties will in
good faith attempt to agree upon a revised method for calculating the financial covenants;

 

(c) until
the Borrower and the Administrative Agent have reached agreement on such revisions, such covenants or amounts as set forth herein
shall remain in effect and will be determined without giving effect to such change;

 

(d) if
no party elects to revise the method of calculating the covenants or amounts, then the covenants or amounts will not be revised
and will be determined in accordance with GAAP without giving effect to such change; and

 

(e) any
Event of Default arising as a result of such change which is cured by operation of this Section 1.04 shall be deemed to be
of no effect ab initio.

 

Section 2. The
Commitments and the Term Loan.

 

 Section
2.01. Term Loan.

 

(a)  The
Term Loan.

 

(i) Subject
to the terms and conditions of this Agreement and relying on the representations and warranties set forth herein, each Lender,
severally and not jointly, agrees to provide its share of the Term Loan to Borrower on the Closing Date in Dollars in a principal
amount equal to such Lender’s Commitment. No Lender shall have an obligation to make a Term Loan in excess of such Lender’s
Commitment.

 

(ii) Borrower
may make one borrowing under the Commitments which shall be on the Closing Date. Subject to Section 3.03, all amounts owed
hereunder with respect to the Term Loan shall be paid in full no later than the Maturity Date. Each Lender’s Commitment
shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s
Commitment on such date.

 

(iii)
 Upon satisfaction or waiver of the conditions precedent set forth in this Agreement,
the Lenders shall make the proceeds of the Term Loan available to Borrower on the Closing Date.

 

(b) No
amounts paid or prepaid with respect to the Term Loan may be reborrowed. Any term or provision hereof (or of any other Loan Document)
to the contrary notwithstanding, the Term Loan made to the Borrower will be denominated solely in Dollars and will be repayable
solely in Dollars and no other currency.

 

    	 	-26-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

 Section
2.02. Notes. If requested by any Lender, the Term Loan of such Lender shall be evidenced by one or more Notes. If so requested,
the Borrower shall prepare, execute and deliver to the Administrative Agent such promissory note(s) payable to the Lenders (or,
if requested by the Lenders, to the Lenders and their registered permitted assigns) substantially in the form attached hereto
as Exhibit A.

 

 Section
2.03. Use of Proceeds. The Borrower shall use the proceeds of the Term Loan solely (a) for general corporate purposes,
including, without limitation, business development and licensing purposes, (b) to refinance the Pay-Off Indebtedness and (c)
to pay the fees, costs and expenses associated with the Transactions.

 

Section
2.04. Proportionate Shares. The Term Loan shall be made, and all participations purchased, by the Lenders simultaneously
and proportionately to their respective Proportionate Shares, it being understood that no Lender shall be responsible for any
default by any other Lender in such other Lender’s obligation to make a Term Loan hereunder or purchase a participation
required hereby nor shall the Commitment of any Lender be increased or decreased as a result of a default by any other Lender
in such Lender’s obligation to make a Term Loan requested hereunder or purchase a participation required hereby.

 

Section 3 Payments
of Principal and Interest.

 

 Section
3.01. Repayments and Prepayments Generally; Application. (a) There will be no scheduled amortization payments of principal
on the Term Loan prior to the second (2nd) anniversary of the Closing Date.

 

(b) Commencing
with the Payment Date occurring immediately after the second (2nd) anniversary of the Closing Date and on each Payment Date occurring
thereafter, the Borrower shall make a scheduled amortization payment of principal on the Term Loan in an amount equal to 1.0%
of the aggregate principal amount of the Term Loan borrowed on the Closing Date.

 

(c) Any
term or provision hereof to the contrary notwithstanding, on the Maturity Date the Borrower shall repay the entire remaining outstanding
balance of the Term Loan in full in cash.

 

(d) The
Borrower agrees that the Term Loan, and any fees or interest accrued or accruing thereon, shall be repaid and prepaid solely in
Dollars pursuant to the terms of this Section 3. Except as otherwise provided in this Agreement, each payment (including
each repayment and prepayment) by the Borrower will be deemed to be made ratably in accordance with the Lenders’ Proportionate
Share.

 

 Section
3.02. Interest.

 

(a) Interest
Generally. The outstanding principal amount of the Term Loan, as well as the amount of all other outstanding Obligations,
shall accrue interest at the Interest Rate.

 

    	 	-27-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) Default
Interest. Notwithstanding the foregoing, upon the occurrence and during the continuance of any Event of Default, the Applicable
Margin shall increase automatically by four percent (4%) per annum (the Interest Rate, as increased pursuant to this Section 3.02(b),
being the “Default Rate”). If any Obligation is not paid when due under any applicable Loan Document (after
giving effect to any applicable grace period), the amount thereof shall accrue interest at the Default Rate.

 

(c) Interest
Payment Dates. Accrued interest on the Term Loan shall be payable in cash and in arrears on each Payment Date with respect
to the most recently completed Interest Period, and upon the payment or prepayment of the Term Loan (on the principal amount being
so paid or prepaid); provided that interest payable at the Default Rate shall also be payable from time to time on demand
by the Administrative Agent.

 

(d) Maximum
Rate. Notwithstanding any other provision of this Agreement, in no event will any interest or rates referred to herein exceed
the maximum interest rate permitted by applicable law. If such maximum interest rate would be exceeded by the terms hereof, the
rates of interest payable hereunder will be reduced to the extent necessary so that such rates (together with any fees or other
amounts which are construed by a court of competent jurisdiction to be interest or in the nature of interest) equal the maximum
interest rate permitted by applicable law, and any overpayment of interest received by the Lenders before such rates are so construed
will be applied, forthwith after determination of such overpayment, to pay all then outstanding interest, and thereafter to pay
outstanding principal.

 

 Section
3.03. Prepayments; Prepayment Premium.

 

(a) Optional
Prepayments. (i) Subject to prior written notice pursuant to clause (ii) below, the Borrower shall have the right to optionally
prepay, in whole or in part, the outstanding principal amount of the Term Loan on any Business Day (a “Prepayment Date”)
for an aggregate amount equal to the sum of (x) the aggregate principal amount of the Term Loan being prepaid, (y) the
applicable Prepayment Premium on the principal amount of the Term Loan being prepaid and (z) any accrued but unpaid interest
on the principal amount of the Term Loan being prepaid (such aggregate amount, the “Prepayment Price”).

 

(ii) A
notice of optional prepayment shall be effective only if received by the Administrative Agent not later than 2:00 p.m. (Eastern
time) on a date not less than one (1) Business Day prior to the proposed Prepayment Date. Each notice of optional prepayment shall
specify the Prepayment Price and the principal amount to be prepaid, as well as the Prepayment Date.

 

    	 	-28-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) Mandatory
Prepayments. Subject to the proviso below, upon the occurrence of any Casualty Event, the Borrower shall make a mandatory
prepayment of the Term Loan in an aggregate amount equal to the sum of (x) one hundred percent (100%) of the Net Cash Proceeds
received by the Borrower or any other Obligor as a result of such Casualty Event, and (y) any accrued but unpaid interest on such
principal amount of the Term Loan being prepaid; provided that so long as no Default or Event of Default has occurred and
is continuing at the time the Borrower or any Obligor shall have received such Net Cash Proceeds, if, within five (5) Business
Days following the occurrence of any such Casualty Event, a Responsible Officer of the Borrower may deliver to the Administrative
Agent a notice (each, a “Casualty Event Reinvestment Notice”) to the effect that the Borrower or applicable
Obligor intends to apply the Net Cash Proceeds from such Casualty Event to acquire, replace or rebuild the property subject to
such Casualty Event or to the cost of purchase or construction of other assets useful in the business of the Borrower or its Subsidiaries,
then such Net Cash Proceeds of such Casualty Event may be applied for such purpose in lieu of such mandatory prepayment, provided
further that, in the event that Net Cash Proceeds have not been so applied within one hundred eighty (180) days following
the occurrence of such Casualty Event, the Borrower shall make a mandatory prepayment of the Term Loan in an aggregate amount
equal to the sum of (A) one hundred percent (100%) of the unused balance of such Net Cash Proceeds received by the Borrower or
any other Obligor as a result of such Casualty Event, and (B) any accrued but unpaid interest on such principal amount of the
Term Loan being prepaid, provided, further, that to the extent that the property subject to the Casualty Event is Collateral,
then any such acquired, replaced, repaired, purchased or constructed property shall be Collateral in which the Administrative
Agent, for the benefit of the Lenders, has been granted a security interest under the Security Documents.

 

(c) Prepayment
Premium. Without limiting the foregoing, whenever the Prepayment Premium is in effect and payable pursuant to the terms hereof,
such premium shall be payable on all payments and prepayments of the Term Loan, whether as a result of clause (a) above in this
Section 3.03, acceleration or otherwise (but excluding any prepayment pursuant to clause (b) above).

 

(d) Application.
Proceeds of any prepayment made pursuant to clauses (a) or (b) above shall be applied in the following order of priority, with
proceeds being applied to a succeeding level of priority only if amounts owing pursuant to the immediately preceding level of
priority have been paid in full in cash:

 

(i) first,
to the payment of any unpaid costs or expenses referred to in Section 14.03 then due and owing;

 

(ii) second,
to the payment of any accrued and unpaid interest and any fees then due and owing;

 

(iii) third,
to the payment of unpaid principal of the Term Loan;

 

(iv) fourth,
to the payment of any Prepayment Premium then due and payable; and

 

    	 	-29-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(v) fifth,
to the Borrower or such other Persons as may lawfully be entitled to or directed by the Borrower to receive the remainder.

 

 Section
3.04. Closing Fee. On the Closing Date, the Borrower shall pay to the Administrative Agent out of the proceeds of the Term
Loan a non-refundable fee in the amount equal to two percent (2%) of the principal amount of the Term Loan advanced by the Lenders
on such date (the “Closing Fee”). Payment of the Closing Fee shall be in addition to such fees, costs and expenses
due and payable pursuant to Section 14.03. Upon receipt of payment from the Borrower, the Administrative Agent will promptly
thereafter distribute like funds relating to any such payment to the Lenders pro rata on the basis of each Lender’s Proportionate
Share.

 

Section 4. Payments,
Etc.

 

 Section
4.01. Payments.

 

(a) Payments
Generally. Each payment of principal, interest and other amounts to be made by the Obligors under this Agreement or any other
Loan Document shall be made (i) in Dollars, in immediately available funds, without deduction, set off or counterclaim, to
the deposit account of the Administrative Agent (for the benefit of the Lenders) designated by the Administrative Agent by notice
to the Borrower and (ii) not later than 2:00 p.m. (Eastern time) on the date on which such payment is due (each such payment
made after such time on such due date shall be deemed to have been made on the next succeeding Business Day).

 

(b) Application
of Payments. All such payments referenced in clause (a) above shall be applied as set forth in Section 3.03(d) above.

 

(c) Non-Business
Days. If the due date of any payment under this Agreement (whether in respect of principal, interest, fees, costs or otherwise)
would otherwise fall on a day that is not a Business Day, such date shall be extended to the next succeeding Business Day, and,
in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension.

 

 Section
4.02. Computations. All computations of interest and fees hereunder shall be computed on the basis of a year of three hundred
and sixty (360) days and actual days elapsed during the period for which payable.

 

 Section
4.03. Set-Off.

 

(a) Set-Off
Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders
and each of their Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to
set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness
at any time owing by any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and
all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured.
Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application,
provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights
of the Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including
other rights of set-off) that such Persons may have.

 

    	 	-30-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) Exercise
of Rights Not Required. Nothing contained in Section 4.03(a) shall require the Administrative Agent, any Lender or any
of their Affiliates to exercise any such right or shall affect the right of such Persons to exercise, and retain the benefits
of exercising, any such right with respect to any other indebtedness or obligation of any Obligor.

 

Section 5. Yield
Protection, Etc.

 

 Section
5.01. Additional Costs.

 

(a) Change
in Law Generally. If, on or after the date hereof, the adoption of any Law, or any change in any Law, or any change in the
interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration
thereof, or compliance by any Lender (or its lending office) with any request or directive (whether or not having the force of
law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed
by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement,
in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended
by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Term
Loan or the Commitment, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining
the Term Loan, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan
Document, or subject any Lender to any Taxes on its Term Loan, Commitment or other obligations, or its deposits, reserves, other
liabilities or capital (if any) attributable thereto by an amount reasonably deemed by such Lender in good faith to be material
(other than (i) Indemnified Taxes, (ii) Taxes described in clauses (ii) through (iv) of the definition of “Excluded
Taxes” and (iii) Connection Income Taxes), then the Borrower shall pay to such Lender on demand such additional amount
or amounts as will compensate such Lender for such increased cost or reduction.

 

(b) Change
in Capital Requirements. If a Lender shall have determined that, on or after the date hereof, the adoption of any applicable
Law regarding capital adequacy, or any change therein, or any change in the interpretation or administration thereof by any Governmental
Authority charged with the interpretation or administration thereof, or any request or directive regarding capital adequacy (whether
or not having the force of law) of any such Governmental Authority, in each case that becomes effective after the date hereof,
has or would have the effect of reducing the rate of return on capital of a Lender (or its parent) as a consequence of a Lender’s
obligations hereunder or the Term Loan to a level below that which a Lender (or its parent) could have achieved but for such adoption,
change, request or directive by an amount reasonably deemed by it to be material, then the Borrower shall pay to such Lender on
demand such additional amount or amounts as will compensate such Lender (or its parent) for such reduction.

 

    	 	-31-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(c) Notification
by Lender. Each Lender will promptly notify the Borrower of any event of which it has knowledge, occurring after the date
hereof, which will entitle such Lender to compensation pursuant to this Section 5.01. Before giving any such notice pursuant
to this Section 5.01(c) such Lender shall designate a different lending office if such designation (x) will, in the
reasonable judgment of such Lender, avoid the need for, or reduce the amount of, such compensation and (y) will not, in the
reasonable judgment of such Lender, be materially disadvantageous to such Lender. A certificate of such Lender claiming compensation
under this Section 5.01, setting forth in reasonable detail the additional amount or amounts to be paid to it hereunder,
shall be conclusive and binding on the Borrower in the absence of manifest error.

 

(d) Notwithstanding
anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules,
guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed
to constitute a change in Law for all purposes of this Section 5.01, regardless of the date enacted, adopted or issued.

 

 Section
5.02. Illegality. Notwithstanding any other provision of this Agreement, in the event that on or after the date hereof
the adoption of or any change in any applicable Law or in the interpretation or application thereof by any competent Governmental
Authority shall make it unlawful for a Lender or its lending office to make or maintain the Term Loan by such Lender (and, in
the opinion of such Lender, the designation of a different lending office would either not avoid such unlawfulness or would be
disadvantageous to such Lender), then such Lender shall promptly notify the Borrower thereof, following which (i) such Lender’s
Commitment shall be suspended until such time as such Lender may again make and maintain the Term Loan hereunder and (ii) if
such Law shall so mandate, the Term Loan shall be prepaid by the Borrower on or before such date as shall be mandated by such
Law in an amount equal to the aggregate principal amount of the Term Loan outstanding on the date of such prepayment plus any
accrued but unpaid interest thereon.

 

 Section
5.03. Taxes. For purposes of this Section 5.03, the term “applicable Law” includes FATCA.

 

(a) Payments
Free of Taxes. Any and all payments by or on account of any Obligation shall be made without deduction or withholding for
any Taxes, except as required by any applicable Law. If any applicable Law (as determined in the good faith discretion of an applicable
Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable
Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld
to the relevant Governmental Authority in accordance with applicable Law and, if such Tax is an Indemnified Tax, then the sum
payable by such Obligor shall be increased as necessary so that after such deduction or withholding has been made (including such
deductions and withholdings applicable to additional sums payable under this Section 5.03) the applicable Recipient receives
an amount equal to the sum it would have received had no such deduction or withholding been made.

 

    	 	-32-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) Payment
of Other Taxes by the Borrower. The Borrower shall timely pay to the relevant Governmental Authority in accordance with applicable
Law, or at the option of the Administrative Agent, timely reimburse it for the payment of, Other Taxes.

 

(c) Evidence
of Payments. As soon as reasonably practicable after any payment of Taxes by the Borrower to a Governmental Authority pursuant
to this Section 5.03, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt
issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of
such payment reasonably satisfactory to the Administrative Agent.

 

(d) Indemnification
by the Borrower. The Borrower shall reimburse and indemnify each Recipient, within ten (10) days after demand therefor, for
the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable
under this Section 5.03) payable or paid by such Recipient or required to be withheld or deducted from a payment to such
Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly
or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability
delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf
or on behalf of a Lender, shall be conclusive absent manifest error.

 

(e) Indemnification
by the Lender. Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any
Indemnified Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Administrative
Agent for such Indemnified Taxes and without limiting the obligation of the Borrower to do so), and (ii) any Taxes attributable
to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any
reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any
Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative
Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by
the Administrative Agent to such Lender from any other source against any amount due to the Administrative Agent under this paragraph
(e).

 

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    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(f) Status
of Lenders. (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments
made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times prescribed by applicable
Law or reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably
requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced
rate of withholding. In addition, any Lender shall deliver such other documentation prescribed by Law or reasonably requested
by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not
such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in
the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set
forth in Section 5.03(f)(ii)(A), (ii)(B), and (ii)(D)) shall not be required if in such Lender’s reasonable judgment
such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially
prejudice the legal or commercial position of such Lender.

 

(ii) Without
limiting the generality of the foregoing:

 

(A) any
Lender (or, if the Lender is a disregarded entity for U.S. federal income tax purposes, the Person treated as the owner of
the assets of such Lender for U.S. federal income Tax purposes) that is a U.S. Person shall deliver to the Borrower and the Administrative
Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon
the reasonable request of the Borrower or the Administrative Agent), executed copies of IRS Form W-9 (or successor form)
certifying that such Lender is exempt from U.S. federal backup withholding Tax;

 

(B) any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in
such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower and the Administrative Agent),
whichever of the following is applicable:

 

(1) in
the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with
respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E as applicable
(or successor forms) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest”
article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN
or IRS Form W-8BEN-E as applicable (or successor forms) establishing an exemption from, or reduction of, U.S. federal withholding
Tax pursuant to the “business profits” or “other income” article of such tax treaty;

 

    	 	-34-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(2) executed
copies of IRS Form W-8ECI (or successor form);

 

(3) in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(x) a certificate substantially in the form of Exhibit D-1 to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the applicable the Borrower
within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C)
of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form
W-8BEN-E as applicable (or successor forms); or

 

(4) to
the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY (or successor form), accompanied by
IRS Form W-8ECI (or successor form), IRS Form W-8BEN (or successor form), IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate,
substantially in the form of Exhibit D-2 or D-3, IRS Form W-9 (or successor form), and/or other certification documents from
each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one (1) or more direct
or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S.
Tax Compliance Certificate substantially in the form of Exhibit D-4 on behalf of each such direct and indirect partner.

 

(C) any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in
such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter at the time or times prescribed by applicable Law or upon the reasonable
request of the Borrower or the Administrative Agent), executed copies of any other form prescribed by applicable Law as a basis
for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation
as may be prescribed by applicable Law to permit the Borrower or the Administrative Agent to determine the withholding or deduction
required to be made; and

 

(D) if
a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b)
or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or
times prescribed by Law and at such time or times as reasonably requested by the Borrower or the Administrative Agent such documentation
prescribed by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation
reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent
to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations
under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement.

 

    	 	-35-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Each
Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect,
it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal
inability to do so.

 

(g) Treatment
of Certain Tax Benefits. If any party to this Agreement determines, in its sole discretion exercised in good faith, that it
has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 5.03 (including by the payment
of additional amounts pursuant to this Section 5.03), it shall pay to the indemnifying party an amount equal to such refund
(but only to the extent of indemnity payments made under this Section 5.03 with respect to the Taxes giving rise to such
refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest
paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified
party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (plus any penalties, interest or
other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such
refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 5.03(g), in no event will
the indemnified party be required to pay any amount to an indemnifying party pursuant to this Section 5.03(g) the payment
of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been
in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and
the indemnification payments or additional amounts with respect to such Tax had never been paid. This Section 5.03(g) shall
not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its
Taxes that it deems confidential) to the indemnifying party or any other Person.

 

(h) Designation
of a Different Lending Office. If the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender
or to any Governmental Authority for the account of any Lender pursuant to Section 5.01 or this Section 5.03, then such
Lender shall (at the request of the Borrower) use commercially reasonable efforts to designate a different lending office for
funding or booking its Term Loan hereunder or to assign and delegate its rights and obligations hereunder to another of its offices,
branches or Affiliates if, in the sole reasonable judgment of such Lender, such designation or assignment and delegation would
(i) eliminate or reduce amounts payable pursuant to Section 5.01 or this Section 5.03, as the case may be, in the
future, (ii) not subject such Lender to any unreimbursed cost or expense and (iii) not otherwise be disadvantageous
to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with
any such designation or assignment and delegation.

 

    	 	-36-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(i) Survival.
Each party’s obligations under this Section 5 shall survive the resignation or replacement of the Administrative Agent
or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction
or discharge of all Obligations under any Loan Document.

 

 Section
5.04. Delay in Requests. Failure or delay on the part of any Lender to demand compensation pursuant to this Section 5
shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall
not be required to compensate a Lender pursuant to this Section for any increased costs incurred or reductions suffered more than
six-months prior to the date that such Lender notifies the Borrower of the change in Law giving rise to such increased costs or
reductions, and of such Lender’s intention to claim compensation therefor (except that, if the change in Law giving rise
to such increased costs or reductions is retroactive, then the sixth-month period referred to above shall be extended to include
the period of retroactive effect thereof).

 

Section 6. Conditions
Precedent.

 

 Section
6.01. Conditions to the Closing Date. The obligation of each Lender to make the Term Loan shall be subject to the execution
and delivery of this Agreement by the parties hereto and the prior or concurrent satisfaction (or waiver thereof by the Administrative
Agent) of each of the conditions precedent set forth below in this Section 6.01.

 

(a) Secretary’s
Certificate, Etc. The Administrative Agent shall have received from each Obligor (i) a copy of a good standing certificate,
dated a date reasonably close to the Closing Date, for each such Person and (ii) a certificate, dated as of the Closing Date,
duly executed and delivered by such Person’s Secretary or Assistant Secretary, managing member, general partner or equivalent,
as to:

 

(i) resolutions
of each such Person’s Board then in full force and effect authorizing the execution, delivery and performance of each Loan
Document to be executed by such Person and the Transactions;

 

(ii) the
incumbency and signatures of those of its officers, managing member, general partner or equivalent authorized to act with respect
to each Loan Document to be executed by such Person; and

 

(iii) the
full force and validity of each Organic Document of such Person and copies thereof.

 

    	 	-37-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) Closing
Date Certificate. The Administrative Agent shall have received a certificate, dated as of the Closing Date and duly executed
and delivered by a Responsible Officer of the Borrower, which certificate shall be in the form attached hereto as Exhibit M, stating
that (i) both immediately before and after giving effect to the Borrowing of the Term Loan, (x) the representations
and warranties set forth in each Loan Document shall, in each case, be true and correct in all material respects (or, in the case
of any such representation or warranty already qualified by materiality, in all respects) and (y) no Default shall have then
occurred and be continuing, or would result from the making of the Term Loan being advanced on the Closing Date and (ii) all
of the conditions set forth in Section 6.01 have been satisfied or waived by the Administrative Agent.

 

(c) Solvency,
Etc. The Administrative Agent shall have received a solvency certificate duly executed and delivered by the chief financial
or accounting Responsible Officer of the Borrower, dated as of the Closing Date, in form and substance reasonably satisfactory
to the Administrative Agent.

 

(d) Financial
Information, Etc. The Administrative Agent shall have received:

 

(i) audited
consolidated financial statements of the Borrower and its Subsidiaries for the fiscal year ended December 31, 2017; provided
that the Borrower’s filing of an Annual Report on Form 10-K with the SEC with respect thereto shall be deemed to satisfy
the requirements of this Section; and

 

(ii) unaudited
consolidated balance sheets of the Borrower and its Subsidiaries for each fiscal quarter ended after December 31, 2017, together
with the related consolidated statement of operations for such fiscal quarter; provided that the Borrower’s filing
of a Quarterly Report on Form 10-Q with the SEC with respect to each such quarter shall be deemed to satisfy the requirements
of this Section.

 

(e) Compliance
Certificate. The Administrative Agent shall have received an initial Compliance Certificate, prepared on a pro forma basis
as of the Closing Date demonstrating compliance with the covenants set forth in Section 10, duly executed (and with all schedules
thereto duly completed) and delivered by a Responsible Officer of the Borrower.

 

(f) Opinions
of Counsel. The Administrative Agent shall have received one (1) or more opinions, dated the Closing Date and addressed
to the Administrative Agent and the Lenders, from Gracin & Marlow, LLP, independent legal counsel to the Borrower and the
other Obligors, and Parsons Behle & Latimer, Nevada legal counsel to the Borrower and the other Obligors, each in form and
substance reasonably acceptable to the Administrative Agent.

 

 (g) Delivery
of Notes. Each Lender that has requested a Note shall have received a Note for its Term Loan, duly executed and delivered
by a Responsible Officer of the Borrower.

 

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    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(h) Security
Documents. The Administrative Agent shall have received executed counterparts of each Security Document, dated as of Closing
Date, duly executed and delivered by each Obligor, together with:

 

(i) subject
to Section 8.17, delivery of all certificates (in the case of Equity Interests that are securities (as defined in the NY UCC))
evidencing the issued and outstanding capital securities owned by each Obligor that are required to be pledged under the Security
Agreement, which certificates in each case shall be accompanied by undated instruments of transfer duly executed in blank or,
in the case of Equity Interests that are uncertificated securities (as defined in the NY UCC), confirmation and evidence reasonably
satisfactory to the Administrative Agent that the security interest required to be pledged therein under the Security Agreement
has been transferred to and perfected by the Administrative Agent in accordance with Articles 8 and 9 of the NY UCC and all laws
otherwise applicable to the perfection of the pledge of such Equity Interests;

 

(ii) financing
statements naming each Obligor as a debtor and the Administrative Agent as the secured party (for the benefit of all Secured Parties)
or other similar instruments or documents, in each case suitable for filing, to be filed under the Uniform Commercial Code (or
equivalent law) of all jurisdictions as may be necessary to perfect the Liens of the Administrative Agent, for the benefit of
the Lenders, pursuant to the Security Agreement;

 

(iii) UCC-1
(or equivalent) Lien searches reasonably satisfactory in scope and substance to the Administrative Agent covering each Obligor
and its properties;

 

(iv) UCC-3
termination statements, or equivalent, as may be necessary to release all Liens and other rights of any Person in any collateral
described in the Security Agreement previously granted by any Person; and

 

(v) all
Short-Form IP Security Agreements required to be provided under the Security Agreement, each dated as of the Closing Date, duly
executed and delivered by each Obligor that is required to do so under the Security Agreement.

 

(i) Material
Adverse Change. No Material Adverse Change shall have occurred since December 31, 2017.

 

(j) Fees
and Expenses, Etc. Each of the Administrative Agent and each Lender shall have received, for its own account, the fees, costs
and expenses due and payable to it on the Closing Date pursuant to Sections 3.04 and 14.03, including all reasonable closing
costs and fees and all unpaid reasonable expenses of the Administrative Agent and the Lenders incurred in connection with the
Transactions (including the Administrative Agent’s and the Lenders’ reasonable and documented legal fees and expenses).

 

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    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(k) Collateral
Questionnaire. The Administrative Agent shall have received a fully completed Collateral Questionnaire, dated as of the Closing
Date, duly executed and delivered by a Responsible Officer of the Borrower.

 

 (l) Warrant.
The Administrative Agent shall have received the executed Warrant, dated as of the Closing Date.

 

(m) Insurance.
The Administrative Agent shall have received certificates and endorsements of insurance evidencing the existence of all insurance
required to be maintained by the Obligors and their respective Subsidiaries pursuant to Section 8.05 and the designation
of the Administrative Agent as the Borrower’s loss payee or additional insured, as applicable.

 

(n) Pay-Off
Letters. The Administrative Agent shall have received executed Pay-Off Letters terminating and cancelling the Pay-Off Indebtedness
in full, in form and substance reasonably acceptable to it.

 

(o) Due
Diligence. The Administrative Agent and the Lenders shall have received and be satisfied with all due diligence (including
without limitation historical financial statements, projections, technical, operational, legal, intellectual property, commercial
market forecasts, clinical and regulatory assessments, supply chain, securities, labor, Tax, litigation, environmental, reimbursement
and regulatory authority matters) in their sole discretion.

 

(p) Icagen-T
Loan Documents. The Administrative Agent shall have received executed copies of all Icagen-T Loan Documents.

 

(q)
 Bridge Notes. The Administrative Agent shall have received executed amendments to each Bridge Note existing on the
Closing Date, in form and substance satisfactory to the Administrative Agent in order to subordinate all obligations thereunder
to the Obligations, subject to permitted payments under Section 9.07.

 

(r) Series
C Preferred Subordination Agreement. The Administrative Agent shall have received an executed copy of the Series C Preferred
Subordination Agreement.

 

Section 7. Representations
and Warranties.

 

The
Borrower and each other Obligor hereby jointly and severally represents and warrants to the Administrative Agent and each Lender
that:

 

    	 	-40-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

 Section
7.01. Power and Authority. Each Obligor (i) is duly organized and validly existing under the laws of its jurisdiction
of organization, (ii) has all requisite corporate or other organizational power, and has all Governmental Approvals necessary
to own its assets and carry on its business as now being, or as proposed to be conducted, except to the extent that failure to
have the same would not reasonably be expected to have a Material Adverse Effect, (iii) is qualified to do business and is
in good standing in all jurisdictions in which the nature of the business conducted by it makes such qualification necessary and
where failure so to qualify (either individually or in the aggregate) would reasonably be expected to have a Material Adverse
Effect, and (iv) has full power, authority and legal right to enter into and perform its obligations under each of the Loan
Documents to which it is a party and, in the case of the Borrower, to borrow the Term Loan hereunder.

 

 Section
7.02. Authorization; Enforceability. The Transactions are within each Obligor’s corporate or other organizational
powers and have been duly authorized by all necessary corporate or other organizational action and, if required, by all necessary
equity holder action on the part of such Obligor. This Agreement has been duly executed and delivered by each Obligor and constitutes,
and each of the other Loan Documents to which it is a party when executed and delivered by such Obligor will constitute, a legal,
valid and binding obligation of such Obligor, enforceable against such Obligor in accordance with its terms, except as such enforceability
may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting
the enforcement of creditors’ rights and (ii) the application of general principles of equity (regardless of whether
such enforceability is considered in a proceeding in equity or at law).

 

 Section
7.03. Governmental and Other Approvals; No Conflicts. None of the Transactions (i) requires any Governmental Approval
of, registration or filing with, or any other action by, any Governmental Authority or any other Person, except for (x) such
as have been obtained or made and are in full force and effect and (y) filings and recordings in respect of perfecting or
recording the Liens created pursuant to the Security Documents, (ii) will violate any applicable Law or any Organic Document
of any Obligor or any of its Subsidiaries or any order of any Governmental Authority, other than any such violations that, individually
or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, (iii) will result in a default under
(x) any Material Agreement or (y) any Contract creating or evidencing any Material Indebtedness or (iv) will result
in the creation or imposition of any Lien (other than Permitted Liens) on any asset of any Obligor.

 

 Section
7.04. Financial Statements; Material Adverse Change.

 

(a) Financial
Statements. The Borrower has heretofore furnished to the Administrative Agent and the Lenders certain consolidated financial
statements as provided for in Section 6.01(d). Such financial statements, and all other financial statements delivered by
the Borrower pursuant hereto (whether prior to the Closing Date or otherwise), present fairly, in all material respects, the consolidated
financial position and results of operations and cash flows of the Borrower and its Subsidiaries as of such dates and for such
periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the statements
of the type described in Section 8.01(a) and (b). Neither the Borrower nor any of its Subsidiaries has any material contingent
liabilities or unusual forward or long-term commitments not disclosed in the aforementioned financial statements.

 

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    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) No
Material Adverse Change. Since December 31, 2017, there has been no Material Adverse Change.

 

 Section
7.05. Properties.

 

(a) Property
Generally. Each Obligor has good title to, or valid leasehold interests in, all its real and tangible personal property material
to its business subject only to Permitted Liens and except as would not reasonably be expected to materially interfere with its
ability to conduct its business as currently conducted or to utilize such properties for their intended purposes.

 

(b) Intellectual
Property.

 

(i) Schedule
7.05(b) lists all United States and foreign registrations of and applications for Patents, Trademarks, Copyrights, Industrial
Designs and Technical Information that are Obligor Intellectual Property, including the applicable jurisdiction, registration
or application number and date, as applicable thereto, and a designation as to whether it is licensed or owned by Obligor.

 

(ii) Obligors
own or possess all legal and beneficial rights, title and interest in and to Obligor Intellectual Property designated on Schedule
7.05(b) as being owned by that Obligor and has the right to use the Obligor Intellectual Property licensed to that Obligor, in
each case with good and marketable title, free and clear of any Liens or Claims of any kind whatsoever other than Permitted Liens.

 

(iii) To
Obligors’ knowledge, Obligors’ current use of its Material Intellectual Property does not violate any license or infringe
any valid and enforceable Intellectual Property right of another.

 

(iv) Other
than with respect to the Material Agreements, or as permitted by Section 9.09, the Obligors have not transferred ownership of
Material Intellectual Property, in whole or in part, to any Person who is not an Obligor.

 

(v) Other
than as set forth on Schedule 7.05(b) and to Obligors’ knowledge, Obligors have not received any written communications,
nor is there any pending or threatened action in writing, suit, proceeding or claim in writing by another, alleging that any of
the Obligors has violated, infringed, diluted or misappropriated or, by conducting its business as currently conducted or as proposed
to be conducted does or would violate, infringe, dilute or misappropriate any Intellectual Property of another, and to Obligors’
knowledge, there is no basis for such an allegation.

 

    	 	-42-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(vi) To
the Obligors’ knowledge, there is no pending or threatened action in writing, suit, proceeding or claim in writing by another
(a) challenging Obligors’ rights in or to any Intellectual Property owned by, or licensed to, Obligors, and Obligors
have no knowledge of any facts which could form a reasonable basis for any such action, suit, proceeding or claim; or (b) challenging
the validity, enforceability or scope of any Intellectual Property owned by, or licensed to, Obligors, and Obligors have no knowledge
of any facts which could form a reasonable basis for any such action, suit, proceeding or claim.

 

(vii) Obligors
have taken reasonable precautions to protect the secrecy, confidentiality and value of the Obligor Intellectual Property, including
without limitation, by requiring that all relevant current and former employees, contractors and consultants of Obligors execute
written confidentiality agreements.

 

(viii) Obligors
have complied with the material terms of each Material Agreement pursuant to which Intellectual Property has been licensed to
Obligors (which material terms shall include, but not be limited to, pricing and duration of the agreement), and all such Material
Agreements are in full force and effect, and Obligors have no knowledge of any facts which could form a reasonable basis for any
claims of breach or default under such Material Agreements.

 

(ix) Other
than those permitted by Section 9.09, or as set forth on Schedule 7.05(b), (a) there are no outstanding options, licenses, agreements,
claims, encumbrances or shared ownership interests of any kind relating to the Intellectual Property owned by, or licensed to,
Obligors and (b) nor are Obligors bound by, or a party to, any options, licenses or agreements of any kind with respect to any
Intellectual Property of another other than standard rights of customers and contract research organizations.

 

(x) Obligors
have no knowledge of any prior art that would reasonably be expected to render any claim of any United States Patent within the
Material Intellectual Property invalid that has not been disclosed to the United States Patent and Trademark Office.

 

(xi) All
maintenance fees, annuities, and the like due or payable on the Patents have been timely paid or the failure to so pay was the
result of an intentional decision by the applicable Obligor, which would not reasonably be expected to result in a Material Adverse
Change.

 

    	 	-43-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(xii) To
Obligors’ knowledge, there are no material defects in any of the Patents that constitute the Material Intellectual Property
and no such Patents have ever been finally adjudicated to be invalid, unpatentable or unenforceable for any reason in any administrative,
arbitration, judicial or other proceeding.

 

(xiii) Obligors
have not received any notice asserting that the Patents constituting Material Intellectual Property are invalid, unpatentable
or unenforceable and, to Obligors’ knowledge, neither they nor any current or prior owner of such Patents or their respective
agents or representatives, have engaged in any conduct, or omitted to perform any necessary act, the result of which would invalidate
or render unpatentable or unenforceable any such Patent.

 

(xiv) To
Obligors’ knowledge, other than as set forth in Schedule 7.05(b), Obligors are not obligated to make any payment by way
of royalties, fees or otherwise to any owner or licensee of, or other claimant to, any Obligor Intellectual Property, with respect
to the use thereof or in connection with the conduct of its business or otherwise.

 

(xv) To
Obligors’ knowledge, no employee of Obligors is or has been in violation of any term of any employment contract, patent
disclosure agreement, invention assignment agreement, non-competition agreement, non-solicitation agreement, nondisclosure agreement
or any restrictive covenant to or with a former employer where the basis of such violation relates to such employee’s employment
with Obligors.

 

(xvi) Each
employee and each consultant retained to generate intellectual property for any Obligor has waived all moral rights and assigned
to Obligors all intellectual property rights he or she owns that are related to Obligors’ business as now conducted and
as presently proposed to be conducted.

 

 Section
7.06. No Actions or Proceedings.

 

(a) Litigation.
There is no litigation, investigation or proceeding pending or, to the Borrower’s knowledge, threatened in writing with
respect to any Obligor or any of its Subsidiaries by or before any Governmental Authority or arbitrator that (i) either individually
or in the aggregate would reasonably be expected to have a Material Adverse Effect, except as specified in Schedule 7.06(a),
or (ii) involves this Agreement, any other Loan Document or the Transactions.

 

(b) Environmental
Matters. The operations and property of such Obligor and each of its Subsidiaries comply with all applicable Environmental
Laws, except to the extent the failure to so comply (either individually or in the aggregate) would not reasonably be expected
to have a Material Adverse Effect. There have been no conditions, occurrences or release of Hazardous Materials which would reasonably
be expected to form the basis of any environmental liability claim under applicable Environmental Laws with respect to Borrower’s
and its Subsidiaries’ businesses, operations or properties.

 

    	 	-44-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(c) Labor
Matters. There are no labor disputes against the Borrower or any Subsidiary or, to the Borrower’s knowledge, threatened
in writing against the Borrower or any Subsidiary, and no unfair labor practice complaint is pending against the Borrower or any
Subsidiary or, to the knowledge of the Borrower, threatened in writing against any of them before any Governmental Authority,
in each case which would reasonably be expected to result in a Material Adverse Effect. There is no material strike or work stoppage
in existence or threatened in writing against the Borrower or any Subsidiary. Except as set forth on Schedule 7.06(c), the
Borrower is not party to any collective bargaining agreements or contracts, no union representation exists at any facilities of
the Borrower or any of its Subsidiaries and, to the knowledge of the Borrower, no union organizing activities with respect to
its business are taking place.

 

 Section
7.07. Compliance with Laws and Agreements. Each of the Obligors is in compliance with all Laws, regulations and orders
of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon
it or its property, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result
in a Material Adverse Effect. To the extent applicable, Obligors and their Subsidiaries are in compliance with 21 CFR §§ 210-211
and 21 CFR §§ 600-610.

 

Section
7.08. Taxes. Each of the Obligors has timely filed or caused to be filed all income and other material tax returns and
reports required to have been filed and has paid or caused to be paid all material Taxes, fees, assessments and governmental charges
or levies required to have been paid by it, except Taxes, fees, assessments and governmental charges or levies that are being
contested in good faith by appropriate proceedings and for which such Obligor has set aside on its books adequate reserves with
respect thereto in accordance with GAAP.

 

 Section
7.09. Full Disclosure. None of the reports, financial statements, certificates or other information furnished by or on
behalf of the Obligors to any Lender in connection with the negotiation of this Agreement and the other Loan Documents or delivered
hereunder or thereunder (as modified or supplemented by other information so furnished) contains any misstatement of material
fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading; provided that, with respect to projected financial information, the Borrower represents
only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time (it being understood
by the Administrative Agent and the Lenders that such projected financial information is not to be viewed as fact, and that no
assurances can be given that any particular projections will be realized and that actual results during the period or periods
covered by any such projections may differ from the projected results and such differences may be material).

 

 Section
7.10. Investment Company and Margin Stock Regulation.

 

(a) Investment
Company Act. Neither the Borrower nor any of its Subsidiaries is an “investment company” as defined in, or subject
to regulation under, the Investment Company Act of 1940.

 

    	 	-45-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) Margin
Stock. Neither the Borrower nor any of its Subsidiaries is engaged principally, or as one of its important activities, in
the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock,
and no part of the proceeds of the Term Loan will be used to buy or carry any Margin Stock in violation of Regulation T, U or
X.

 

 Section
7.11. Solvency. The Borrower and its Subsidiaries, on a consolidated basis, are and, immediately after giving effect to
the Borrowing and the use of proceeds thereof, will be Solvent.

 

 Section
7.12 Equity Holders; Subsidiaries; Equity Investments. (a)  Set forth on Schedule 7.12(a) is a complete and correct
list of all holders of the Equity Interests of Borrower, setting forth the name of each such holder, the series or class of Equity
Interest of Borrower held by such holder and the fully diluted percentage ownership of Borrower held beneficially by such holder.
Borrower is not in material breach of any Material Agreement between the Borrower and any of the holders of Equity Interests of
the Borrower, and the Borrower has fulfilled all of its material obligations under any such Material Agreements. The Borrower
has received all consents of the holders of the Equity Interests of the Borrower necessary for the Transactions, including any
such consent pursuant to any right of first refusal, right of first offer, tag-along right, co-sale right or similar rights, and,
as of the date hereof, all of the holders of Equity Interests of the Borrower with any such rights have declined to exercise such
rights in connection with the Transactions.

 

(b) Set
forth on Schedule 7.12(b) is a complete and correct list of all Subsidiaries of the Borrower. Each such Subsidiary is duly
organized and validly existing under the jurisdiction of its organization shown in said Schedule 7.12(b), and the percentage
ownership by the Borrower or other entity of each such Subsidiary is as shown in said Schedule 7.12(b).

 

(c) Set
forth on Schedule 7.12(c) is a complete and correct list of all other Equity Interests held by each Obligor in any Person
that is not a direct or indirect Subsidiary of the Borrower. Such Schedule 7.12(c) also sets forth in reasonable detail,
the type of Equity Interest held by each such Obligor in such Person and the fully-diluted percentage ownership held beneficially
by such Obligor in such Person.

 

 Section
7.13. Indebtedness and Liens. Set forth on Schedule 7.13(a) is a complete and correct list of all Indebtedness of
the Borrower and each other Obligor outstanding as of the date hereof that will remain outstanding immediately after the making
of the Term Loan and the application of the proceeds therefrom on the Closing Date. Set forth on Schedule 7.13(b) is a complete
and correct list of all Indebtedness outstanding on the date hereof that will be repaid and satisfied in full on the Closing Date
with proceeds of the Term Loan made on such date. Schedule 7.13(c) is a complete and correct list of all Liens granted by the
Borrower and other Obligors with respect to their respective property which are outstanding as of the Closing Date after giving
effect to the Transactions (other than the Liens granted pursuant to the Loan Documents).

 

    	 	-46-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

 Section
7.14. Material Agreements. Set forth on Schedule 7.14 is a complete and correct list of the Material Agreements that will
remain outstanding as of the Closing Date after giving effect to the Transactions. No Obligor is in material default under any
Material Agreement and the Borrower has no knowledge of any material default by any counterparty to any such Material Agreement
or Contract. Except as otherwise disclosed on Schedule 7.14, all Material Agreements that include a grant of rights under
any Material Intellectual Property to an Obligor are in full force and effect without material modification from the form in which
the same were disclosed to the Administrative Agent.

 

 Section
7.15. Restrictive Agreements. Except as set forth in Schedule 7.15, no Obligor is subject to any Restrictive Agreement
as of the Closing Date after giving effect to the Transactions, except those permitted under Section 9.11.

 

 Section
7.16. Real Property. Except as set forth in Schedule 7.16, no Obligor owns or leases (as tenant thereof) any real
property.

 

 Section
7.17. Pension Matters. Schedule 7.17 sets forth a complete and correct list of, and that separately identifies, (i) all
Title IV Plans and (ii) all Multiemployer Plans. Except for those that would not reasonably be expected to, in the aggregate,
have a Material Adverse Effect or result under ERISA or Code Section 430(k) in a Lien under on the assets or property of any Obligor
or any of its Subsidiaries, no ERISA Event has occurred in connection with which obligations and liabilities (contingent
or otherwise) remain outstanding or is reasonably expected to occur.

 

 Section
7.18. Collateral; Security Interest. Each Security Document is effective to create in favor of the Administrative Agent
(for the benefit of the Secured Parties) a legal, valid and enforceable security interest, as security for the Obligations, in
the Collateral subject to such Security Document and each such security interest is perfected on a first-priority basis (subject
only to Permitted Priority Liens).

 

 Section
7.19. Regulatory Approvals. (a) Each Obligor and each of its Subsidiaries holds either directly or through licensees and
agents, all Regulatory Approvals, licenses, permits and similar governmental authorizations of a Governmental Authority necessary
or required for each Obligor and its Subsidiaries to conduct their operations and business substantially in the manner currently
conducted.

 

(b) Set
forth on Schedule 7.19(b) is a complete and accurate list as of the date hereof of all Regulatory Approvals relating to the Obligors
and the conduct of their business. All such Regulatory Approvals are (i) legally and beneficially owned exclusively by the Obligors,
free and clear of all Liens other than Permitted Liens, (ii) validly registered and on file with the applicable Governmental Authority,
in material compliance with all registration, filing and maintenance requirements (including any fee requirements) thereof, and
(iii) in good standing, valid and enforceable with the applicable Governmental Authority in all material respects.

 

    	 	-47-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(c) (i)
All material regulatory filings required by any Regulatory Authority have been made, and all such filings are complete and correct
in all material respects and have complied in all material respects with all applicable laws and regulations and (ii) each Obligor
has disclosed to the Administrative Agent all such material regulatory filings and all material communications between representatives
of each Obligor and any Regulatory Authority.

 

(d) Each
Obligor and each of its agents are in compliance in all material respects with all applicable Laws (including all Regulatory Approvals)
of all applicable Governmental Authorities, including the FDA and all other Regulatory Authorities. Each Obligor has and maintains
in full force and effect all the necessary and requisite Regulatory Approvals. Each Obligor is in compliance in all material respects
with all applicable registration and listing requirements set forth in the FD&C Act or equivalent regulation of each other
Governmental Authority having jurisdiction over such Person. Each Obligor adheres in all material respects to all applicable regulations
of all Regulatory Authorities.

 

(e) Except
as set forth on Schedule 7.19(e), no Obligor has received from any Regulatory Authority any notice of adverse findings, including
any FDA Form 483 inspectional observations, notices of violations, Warning Letters, criminal proceeding notices under Section
305 of the FD&C Act, or any other similar communication from any Regulatory Authority.

 

(f) Neither
any Obligor nor any officer, employee or agent thereof, has made an untrue statement of a material fact or fraudulent statements
to the FDA or any other Regulatory Authority, failed to disclose a material fact required to be disclosed to the FDA or any other
Regulatory Authority, or committed an act, made a statement, or failed to make a statement that, at the time such disclosure was
made (or was not made), would reasonably be expected to provide a basis for the FDA or any other Regulatory Authority to invoke
its policy respecting Fraud, Untrue Statements of Material Facts, Bribery and Illegal Gratuities, set forth in 56 Fed. Reg. 46191
(September 10, 1991) or any similar policy.

 

(g) The
clinical, preclinical, safety and other studies and tests conducted by or on behalf of or sponsored by each Obligor (if any) were
(and if still pending, are) being conducted materially in accordance with standard medical and scientific research procedures.
Each Obligor has operated within, and currently is in compliance in all material respects with, all applicable laws, and Regulatory
Approvals, as well as the rules and regulations of the FDA and each other Regulatory Authority.

 

(h) No
Obligor is in the business of Product Commercialization and Development Activities, as well as any clinical or preclinical trials
with respect thereto.

 

 Section
7.20. Transactions with Affiliates. Except as set forth on Schedule 7.20, no Obligor nor any of its Subsidiaries has entered
into, renewed, extended or been a party to, any transaction (including the purchase, sale, lease, transfer or exchange of property
or assets of any kind or the rendering of services of any kind) with any Affiliate during the three-year period prior to the Closing
Date.

 

    	 	-48-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

 Section
7.21. OFAC. Except as set forth on Schedule 7.21, no Obligor nor any of its Subsidiaries, nor, to the knowledge of the
Borrower, any of their respective directors, officers, or employees nor, to the knowledge of the Borrower, any agents or other
Persons acting on behalf of any of the foregoing (i) is currently the target of any Sanctions, (ii) is located, organized
or residing in any Designated Jurisdiction, (iii) is or has been engaged in any transaction with, or for the benefit of,
any Person who is now or was then the target of Sanctions or who is located, organized or residing in any Designated Jurisdiction
or (iv) is or has ever been in violation in any material respect of or subject to an investigation relating to Sanctions.
No Term Loan, nor the proceeds from the Term Loan, has been or will be used, directly or indirectly, to lend, contribute or provide
to, or has been or will be otherwise made available to fund, any activity or business in any Designated Jurisdiction or to fund
any activity or business of any Person, to the Borrower’s knowledge, located, organized or residing in any Designated Jurisdiction
or who is the subject of any Sanctions, or in any other manner that will result in any violation in any material respect by the
Borrower or any of its Subsidiaries of Sanctions.

 

 Section
7.22. Anti-Corruption. No Obligor nor any of its Subsidiaries, nor, to the knowledge of the Borrower, any of their respective
directors, officers or employees nor, to the knowledge of the Borrower, any agents or other Persons acting on behalf of any of
the foregoing, directly or indirectly, has (i) violated or is in violation, in any material respect, of any applicable anti-corruption
Law, or (ii) made, offered to make, promised to make or authorized the payment or giving of, directly or indirectly, any
Prohibited Payment. To the Borrower’s knowledge, no Obligor has been subject to any investigation by any Governmental
Authority with regard to any actual or alleged Prohibited Payment.

 

 Section
7.23. Deposit and Disbursement Accounts. Schedule 7.23 contains a list of all banks and other financial institutions
at which any Obligor or any of its Subsidiaries maintains Deposit Accounts, Securities Accounts and Commodity Accounts, and Schedule 7.23
sets forth the name, address and telephone number of each such bank or financial institution, the name in which such account is
held, the type of such account and the complete account number therefor.

 

 Section
7.24. Royalty and Other Payments. Except as set forth on Schedule 7.24, no Obligor, nor any of its Subsidiaries, is
obligated to pay any royalty, milestone payment, deferred payment or any other contingent payment.

 

Section 8. Affirmative
Covenants.

 

Each
Obligor covenants and agrees with the Lenders that, until the Commitments have expired or been terminated and all Obligations
(other than Warrant Obligations and contingent obligations as to which no claims have been asserted) have been indefeasibly paid
in full in cash:

 

    	 	-49-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

 Section
8.01. Financial Statements and Other Information. The Borrower will furnish to the Administrative Agent:

 

(a) as
soon as available and in any event within 30 days after the end of each month (including the last month of each fiscal quarter),
a consolidated balance sheet for the Borrower and its Subsidiaries as of the end of such month, and the related consolidated statements
of income and cash flows for such month and the portion of the fiscal year through the end of such month, all in reasonable detail
and setting forth in comparative form the figures for the corresponding period in the preceding fiscal year, together with a certificate
of a Responsible Officer of the Borrower stating that such financial statements fairly present in all material respects the financial
condition of the Borrower and its Subsidiaries as at such date and the results of operations of the Borrower and its Subsidiaries
for the period ended on such date and have been prepared in accordance with GAAP, subject to changes resulting from normal, year-end
audit adjustments and except for the absence of notes;

 

(b) as
soon as available and in any event within five (5) Business Days following the date on which the Borrower files or is required
to file a Quarterly Report on Form 10-Q with the SEC, a consolidated balance sheet for the Borrower and its Subsidiaries as of
the end of such quarter, and the related consolidated statements of income and cash flows for such quarter and the portion of
the fiscal year through the end of such quarter, all in reasonable detail and setting forth in comparative form the figures for
the corresponding period in the preceding fiscal year, together with a certificate of a Responsible Officer of the Borrower stating
that such financial statements fairly present in all material respects the financial condition of the Borrower and its Subsidiaries
as at such date and the results of operations of the Borrower and its Subsidiaries for the period ended on such date and have
been prepared in accordance with GAAP, subject to changes resulting from normal, year-end audit adjustments and except for the
absence of notes; provided that, so long as the Borrower is subject to the public reporting requirements of the Exchange
Act, the Borrower’s filing of a Quarterly Report on Form 10-Q with the SEC shall be deemed to satisfy the requirements of
this Section 8.01(b) on the date on which such report is first available via the SEC’s EDGAR system or a successor system
related thereto;

 

(c) as
soon as available and in any event within five (5) Business Days following the date on which the Borrower files or is required
to file its Annual Report on Form 10-K with the SEC, a consolidated balance sheet for the Borrower and its Subsidiaries as of
the end of such fiscal year, and the related consolidated statements of income, shareholders’ equity and cash flows for
such fiscal year, all in reasonable detail and setting forth in comparative form the figures for the previous fiscal year, accompanied
by a report and opinion thereon of RBSM LLP or another firm of independent certified public accountants of recognized national
standing reasonably acceptable to the Administrative Agent, which report and opinion shall be prepared in accordance with GAAP
and which shall not be subject to any Impermissible Qualification; provided  that, the financial statements for the fiscal
years ending 2018 and 2019 may be subject to an Impermissible Qualification; provided further that, so long as the Borrower
is subject to the public reporting requirements of the Exchange Act, the Borrower’s filing of an Annual Report on Form 10-K
with the SEC shall be deemed to satisfy the requirements of this Section 8.01(c) on the date on which such report is first available
via the SEC’s EDGAR system or a successor system related thereto;

  

    	 	-50-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(d)
together with the financial statements required pursuant to Sections 8.01(a) (b) and (c), a compliance certificate signed
by a Responsible Officer of the Borrower as of the end of the applicable accounting period substantially in the form of Exhibit E
(a “Compliance Certificate”), including details of any issues raised by the Borrower’s auditors that
would be reasonably likely to result in a Material Adverse Effect and the creation or other acquisition of any Intellectual Property
by any Obligor or any of its Subsidiaries after the date hereof and during such prior fiscal quarter for which such Compliance
Certificate is delivered, which is registered or becomes registered or the subject of an application for registration with the
U.S. Copyright Office or the U.S. Patent and Trademark Office, as applicable, or with any other equivalent foreign Governmental
Authority;

 

(e)
within three (3) Business Days after the end of each fiscal month, a certificate signed by a Responsible Officer of the Borrower
as of the end of such fiscal month demonstrating compliance with Section 10.01 hereof;

 

(f) as
soon as available and in any event no later than forty-five (45) days following the end of any fiscal year of the Borrower, copies
of an annual budget (or equivalent) for the Borrower and its Subsidiaries, approved by the Borrower’s Board for the next
succeeding fiscal year, in form reasonably satisfactory to the Administrative Agent, accompanied by a certificate of the chief
financial officer of the Borrower certifying that (i) such budget was prepared by the Borrower in good faith, (ii) the
Borrower had at the time of preparation of the budget, and at all times thereafter (including on and as of the date of delivery
to the Administrative Agent of such budget) has continued to have, a reasonable basis for all of the assumptions contained in
such budget and (iii) such budget was prepared in accordance with, and based upon, such assumptions;

 

(g)
promptly, and in any event within five (5) Business Days after receipt thereof by any Obligor, copies of each notice or other
correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation
or possible investigation or other inquiry by such agency regarding financial or other operational results of such Obligor (but
in any case excluding any routine comments and letters from the SEC relating to such Obligor’s filings with the SEC or information that would violate confidentiality obligations to a Governmental Authority);

 

(h)
information regarding insurance maintained by the Borrower and its Subsidiaries as required under Section 8.05;

 

    	 	-51-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

  

(i) within
five (5) days after delivery thereof, copies of all statements, reports and notices made available to Borrower’s Board or
holders of Borrower’s Equity Interests; provided that any such material may be redacted by the Borrower to (i) exclude
information relating to the Lenders (including the Borrower’s strategy regarding the Term Loan), (ii) prevent the disclosure
of trade secrets and (iii) protect and preserve attorney-client privilege;

 

(j) as
soon as possible and in any event within five (5) Business Days after the Borrower obtains knowledge of any Claim related to any
Obligor that that involves more than $500,000, written notice thereof from a Responsible Officer of the Borrower which notice
shall include any statement setting forth details of such Claim; and

 

(k) such
other information respecting the operations, properties, business or condition (financial or otherwise) of the Obligors (including
with respect to the Collateral) as the Administrative Agent may from time to time reasonably request;

 

provided,
notwithstanding the foregoing, Borrower covenants and agrees that neither Borrower, nor any other Person acting on its behalf,
will provide, or be obligated to provide, any Lender or its representatives with any information that Borrower believes constitutes
material non-public information, unless prior thereto such Lender shall have confirmed to Borrower in writing that it consents
to receive such information. Borrower understands and confirms that each Lender shall be relying on the foregoing covenant in
effecting transactions in securities of Borrower.

 

 Section
8.02. Notices of Material Events. Borrower will furnish to the Administrative Agent written (or, in the case of Section 8.02(n),
written or telephonic) notice of the following promptly (but in any event, except as otherwise set forth in 8.02(o), within five
(5) Business Days) after a Responsible Officer obtains knowledge of the existence thereof (or as otherwise provided below); provided
that the Borrower’s disclosure of such event in a press release and/or through a filing with the SEC in a Quarterly
Report on Form 10-Q, an Annual Report on Form 10-K or a Current Report on Form 8-K shall be deemed to satisfy the requirements
of this Section 8.02:

 

(a) the
occurrence of any Default or Event of Default;

 

(b) the
occurrence of any event with respect to any Obligor’s property or assets resulting in a Loss aggregating in excess of $250,000;

 

(c) (i)
any proposed Acquisition by any Obligor that would reasonably be expected to result in environmental liability under Environmental
Laws in excess of $250,000, (ii) any spillage, leakage, discharge, disposal, leaching, migration or release of any Hazardous Material
required to be reported to any Governmental Authority under applicable Environmental Laws that would reasonably be expected to
result in a liability in excess of $250,000 and (iii) all Claims, notices of violation, hearings, investigations or proceedings
pending or, to the Borrower’s knowledge, threatened in writing against or directly affecting any Obligor or any of its Subsidiaries
or with respect to the ownership, use, maintenance and operation of their respective businesses, operations or properties, relating
to Environmental Laws or Hazardous Material, in each case that would reasonably be expected to result in a liability in excess
of $250,000;

 

    	 	-52-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(d) the
assertion in writing by any Person against, or with respect to the activities of, any Obligor of any alleged violation of or non-compliance
with any Environmental Laws or any permits, licenses or authorizations required pursuant to any Environmental Law which would
reasonably be expected to result in liability to such Obligor in excess of $250,000;

 

(e) the
filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against or directly
affecting any Obligor or any of its Subsidiaries that, if adversely determined, would reasonably be expected to result in a Material
Adverse Effect;

 

(f) (i)
on or prior to any filing by any ERISA Affiliate of any notice of intent to terminate any Title IV Plan, a copy of such notice
and (ii) promptly, and in any event within ten (10) days, after any Responsible Officer of any ERISA Affiliate knows or has reason
to know that an ERISA Event has occurred, a notice (which may be made by telephone if promptly confirmed in writing) describing
such ERISA Event and any action that any ERISA Affiliate proposes to take with respect thereto, together with (if applicable)
a copy of any notice filed with the PBGC or the IRS pertaining thereto;

 

(g) (i) the
termination of any Material Agreement other than on its scheduled termination date; (ii) the receipt by any Obligor of any
notice under any Material Agreement (and a copy thereof); (iii) the entering into of any new Material Agreement by an Obligor
(and a copy thereof); or (iv) any material amendment to a Material Agreement (and a copy thereof);

 

(h) the
reports and notices as required by the Security Documents;

 

(i) any
material change in accounting policies or financial reporting practices by the Obligors;

 

(j) any
labor controversy resulting in or threatening to result in any strike, work stoppage, boycott, shutdown or other material labor
disruption against or involving an Obligor or any of its Subsidiaries;

 

    	 	-53-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(k) any
licensing agreement or similar arrangement entered into by any Obligor or any of its Subsidiaries in connection with any material
infringement or alleged material infringement of the Intellectual Property of another Person;

 

(l) any
change to any Obligor’s or any of its Subsidiaries’ ownership or maintenance of Deposit Accounts, Securities Accounts
and Commodity Accounts (other than Excluded Accounts), by delivering to the Administrative Agent a supplement to the Schedules
to this Agreement and the Security Agreement, as applicable, setting forth a complete and correct list of all such accounts as
of the date of such change;

 

(m) (i)
any safety alerts, marketing suspensions, removals or similar actions conducted, to be undertaken, or issued by, any Obligor or
any of its Subsidiaries or (ii) any material safety alerts, marketing suspensions, removals or similar actions conducted, to be
undertaken, or issued by, any Obligor’s and any of its Subsidiaries’ agents, suppliers, licensors or licensees, as
the case may be, in each case of (i) and (ii) above, whether voluntary or at the request, demand or order of any Regulatory Authority
or otherwise;

 

(n) any
Claim by any Person that any Obligor or any of its Subsidiaries has infringed upon any Intellectual Property of such Person, in
each case to the extent such Claim would reasonably be expected to cause a Material Adverse Effect;

 

(o) with
respect to any “Grantor” under the Security Agreement, if such Grantor intends to (i) change its location (as defined
in Section 9-307 of the UCC), or (ii) change its name from the name shown as its current legal name on Schedule 1 to the Security
Agreement, the Borrower shall provide five (5) days’ prior written notice to the Administrative Agent (or such shorter period
as may be acceptable to Administrative Agent in its reasonable discretion);

 

(p) the
occurrence or existence of any event, circumstance, act or omission that would cause any representation or warranty contained
in Sections 7.07, 7.18 or 7.19 to be incorrect in any material respect if such representation or warranty was to be made at the
time the Borrower learned of such event, circumstance, act or omission; provided that in the event notice is required hereunder
with respect to Section 7.19(h), Borrower hereby agrees that it will take all such actions that the Administrative Agent may reasonably
request to amend the Loan Document to reflect such change; and

 

(q) any
other development that results in, or would reasonably be expected to result in, a Material Adverse Effect.

 

Each
notice delivered under this Section 8.02 shall be accompanied by a statement of a Responsible Officer of the Borrower setting
forth in reasonable detail the event or development requiring such notice and any action taken or proposed to be taken with respect
thereto. Nothing in this Section 8.02 is intended to waive, consent to, or otherwise permit any action or omission that is
otherwise prohibited by this Agreement or any other Loan Document.

 

    	 	-54-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

 Section
8.03. Existence; Conduct of Business. Such Obligor will, and will cause each of its Subsidiaries to, do or cause to be
done all things necessary to preserve, renew and keep in full force and effect its legal existence and all Governmental Approvals
material to the conduct of its business; provided that the foregoing shall not prohibit any transaction permitted under
Section 9.03.

 

 Section
8.04. Payment of Obligations. Such Obligor will, and will cause each of its Subsidiaries to, pay and discharge its obligations,
including (i) all material Taxes, fees, assessments and governmental charges or levies imposed upon it or upon its properties
or assets prior to the date on which penalties attach thereto, and all material lawful Claims for labor, materials and supplies
which, if unpaid, would become a Lien (other than a Permitted Lien) upon any properties or assets of such Obligor any of its Subsidiaries,
except to the extent such Taxes, fees, assessments or governmental charges or levies are Permitted Liens and (ii) all other
lawful Claims which, if unpaid, would by Law become a Lien (other than a Permitted Lien) upon any material properties or assets
of such Obligor or any of its Subsidiaries, except to the extent any of the foregoing are being contested in good faith by appropriate
proceedings and are adequately reserved against in accordance with GAAP.

 

 Section
8.05. Insurance. At its own cost and expense, each Obligor will, and will cause each of its Subsidiaries, to obtain and
maintain insurance of the kinds, and in the amounts, set forth below, it being understood and agreed that the insurance held by
the Obligors on the Closing Date is deemed to fulfill this requirement on the date hereof:

 

(a) All
Risks of Physical Loss Insurance. Insurance against loss, destruction or damage to its properties and assets (including the
Collateral) as determined in its good faith business judgment to be customary for companies similar to the Borrower.

 

(b) Commercial
General Liability Insurance. Commercial general liability insurance covering bodily injury, death, property damage, products
liability in such amounts as are generally required by institutional lenders for businesses and assets comparable to the business
and assets of the Borrower.

 

(c) Workers
Compensation Insurance. Workers’ compensation insurance with respect to any work performed on or about the property
or assets of the Borrower.

 

    	 	-55-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(d) General
Requirements. All of the insurance policies of the Obligors required pursuant to this Section 8.05 will (i) be issued
by financially sound and reputable insurers, and (ii) from and after the Closing Date (or such later date as agreed to by
the Administrative Agent in its reasonable discretion), (x) name the Administrative Agent as a “loss payee,” “additional
insured” or “mortgagee,” as applicable, and (y) provide for thirty (30) days’ prior written notice
(ten (10) days’ prior written notice from the Borrower for nonpayment of premium) to the Administrative Agent before such
policy is canceled or terminated. In the event the Obligors fail to maintain the insurance required pursuant to this Section 8.05,
then the Administrative Agent may obtain insurance necessary to comply with this Section 8.05 with respect to such Obligors, in
each case at the expense of the Borrower (payable on demand). The amount of any such expenses shall accrue interest at the Default
Rate if not paid on demand, and shall constitute “Obligations.” All of the insurance policies required hereby will
be evidenced by one or more certificates of insurance, together with appropriate loss payee or additional insured clauses or endorsements
in favor of the Administrative Agent as required by this Section, delivered to the Administrative Agent at such times as the Administrative
Agent may reasonably request from time to time. Unless an Event of Default has occurred and is continuing, the Administrative
Agent agrees to turn over to the Borrower any proceeds from insurance received by the Administrative Agent within fifteen (15)
Business Days following its receipt of a notice by the Borrower of the Borrower’s intention to reinvest such proceeds as
set forth in Section 3.03(b).

 

 Section
8.06. Books and Records; Inspection Rights. Such Obligor will, and will cause each of its Subsidiaries to, keep proper
books of record and account in which full, true and correct entries are made of all dealings and transactions. Such Obligor will,
and will cause each of its Subsidiaries to, permit any representatives designated by the Administrative Agent, upon at least three
(3) Business Days’ prior written notice and during normal business hours, to visit and inspect its properties, to examine
and make extracts from its books and records (excluding records subject to attorney-client privilege, subject to confidentiality
agreements with third parties that preclude disclosure to the Administrative Agent (acting in such capacity) or subject to confidentiality
restrictions pursuant to Law (including HIPAA)), and to discuss its affairs, finances and condition with its officers and independent
accountants, all at such reasonable times (but not more often than twice per year unless an Event of Default has occurred and
is continuing) as the Administrative Agent may request. The Borrower shall pay all reasonable and documented costs and expenses
of all such inspections.

 

 Section
8.07. Compliance with Laws and Other Obligations. Such Obligor will, and will cause each of its Subsidiaries to, (i) comply
in all material respects with all applicable Laws (including Environmental Laws) and (ii) comply in all material respects
with all terms of outstanding Indebtedness and all Material Agreements, except where the failure to do so, individually or in
the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

 

 Section
8.08. Maintenance of Properties, Etc. Such Obligor shall, and shall cause each of its Subsidiaries to, maintain and preserve
all of its real and tangible personal property necessary in the conduct of its business in good working order and condition in
accordance with the general practice of other Persons of similar character and size, ordinary wear and tear and damage from casualty
or condemnation excepted.

 

    	 	-56-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

 Section
8.09. Maintenance of Regulatory Approvals and Material Intellectual Property. (a) Such Obligor shall, and shall cause
each of its Subsidiaries to, maintain, in full force and effect in all material respects, each Regulatory Approval required to
conduct their respective businesses as presently conducted; provided that such Obligor or such Subsidiary shall not be
required to preserve any such Regulatory Approval if such Obligor or such Subsidiary shall determine in its reasonable good faith
judgment that the preservation thereof is no longer necessary in the conduct of its business.

 

(b) Such
Obligor shall, and shall cause each of its Subsidiaries to, use commercially reasonable efforts to (i) protect and preserve
all Material Intellectual Property necessary in the conduct of its business and (ii) enforce or defend the Material Intellectual
Property against infringement, misappropriation, violation or interference by any other Persons; provided that nothing
in this Section 8.09(b) shall prohibit or prevent such Obligor or any Subsidiary from discontinuing the protection, preservation
or maintenance of, or failing to enforce and defend, any of its Intellectual Property if, in the reasonable good faith judgment
of such Obligor or such Subsidiary, such Intellectual Property is no longer necessary and material to the conduct of its business.

 

Section 8.10. Action
Under Environmental Laws. Such Obligor shall, and shall cause each of its Subsidiaries to, upon the Borrower obtaining knowledge
of the release of any Hazardous Materials or the existence of any environmental liability under applicable Environmental Laws
with respect to their respective businesses, operations or properties, take all actions, at their cost and expense, as shall be
necessary or advisable to investigate and clean up the condition of their respective businesses, operations or properties, including
all required removal, containment and remedial actions, and restore their respective businesses, operations or properties to a
condition in each case in compliance with applicable Environmental Laws, except to the extent the failure to take such action
would not reasonably be likely to result in a Material Adverse Effect.

 

Section 8.11. Use
of Proceeds. The proceeds of the Term Loan will be used only as provided in Section 2.03. Without limiting the foregoing,
no part of the proceeds of the Term Loan will be used, whether directly or indirectly, for any purpose that entails a violation
of any of the Regulations of the Board of Governors of the Federal Reserve System, including Regulations T, U and X.

 

    	 	-57-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Section 8.12. Certain
Obligations Respecting Subsidiaries; Further Assurances.

 

(a) Subsidiary
Guarantors. Such Obligor will take such action, and will cause each of its Subsidiaries to take such action, from time to
time as shall be necessary to ensure that all Subsidiaries are “Subsidiary Guarantors” hereunder, provided,
that neither Icagen-T nor any of its Subsidiaries shall be required to become a “Subsidiary Guarantor” hereunder until
such time as it no longer prohibited from doing so under the Icagen-T MSA. Without limiting the generality of the foregoing, in
the event that Borrower or any of its Subsidiaries (other than any Subsidiary owned by Icagen-T, until such time as it is no longer
prohibited from doing so under the Icagen-T MSA) shall form or acquire any new Subsidiary, it and its Subsidiaries shall concurrently:

 

(i) cause
such new Subsidiary to become a “Subsidiary Guarantor” hereunder, and a “Grantor” under the Security Agreement,
pursuant to a Guarantee Assumption Agreement;

 

(ii) take
such action or cause such Subsidiary to take such action (including joining the Security Agreement, delivering such shares of
stock together with undated transfer powers executed in blank and entering into the applicable Short-Form IP Security Agreements)
as shall be necessary to create and perfect valid and enforceable first priority Liens (subject to Permitted Liens) on substantially
all of the personal property of such new Subsidiary (other than Excluded Accounts) as collateral security for the obligations
of such new Subsidiary hereunder;

 

(iii) cause
the parent of such Subsidiary to execute and deliver a pledge agreement in favor of the Administrative Agent for the benefit of
the Secured Parties in respect of all outstanding issued shares of such Subsidiary; and

 

(iv) deliver
such proof of corporate or other organizational action, incumbency of officers, opinions of counsel and other documents as is
consistent with those delivered by each Obligor pursuant to Section 6.01, or as the Administrative Agent shall have reasonably
requested.

 

(b) Further
Assurances. Subject to the limitations set forth herein and in the other Loan Documents, such Obligor will, and will cause
each of its Subsidiaries (other than Icagen-T and its Subsidiaries, until such actions are no longer prohibited by the Icagen-T
MSA) to, take such action from time to time as shall reasonably be requested by the Administrative Agent to effectuate the purposes
and objectives of this Agreement.

 

Without
limiting the generality of the foregoing, each Obligor will, and will cause each Person that is required to be a Subsidiary Guarantor
to, take such action from time to time (including executing and delivering such assignments, security agreements, control agreements
and other instruments) as shall be reasonably requested by the Administrative Agent to create, in favor of the Lenders, perfected
security interests and Liens in substantially all of the personal property of such Obligor as collateral security for the Obligations;
provided that any such security interest or Lien shall be subject to the relevant requirements of the Security Documents.

 

Section 8.13. Termination
of Non-Permitted Liens. In the event that the Borrower obtains knowledge of or receives notification from the Administrative
Agent of the existence of any outstanding Lien against any property of such Obligor or any of its Subsidiaries, which Lien is
not a Permitted Lien, such Obligor shall promptly terminate or cause the termination of such Lien.

 

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    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Section 8.14. Intellectual
Property. In the event that any Obligor acquires Obligor Intellectual Property during the term of this Agreement, then the
provisions of this Agreement shall automatically apply thereto and any such Obligor Intellectual Property shall automatically
constitute part of the Collateral under the Security Documents, without further action by any party, in each case from and after
the date of such acquisition (except that any representations or warranties of any Obligor shall apply to any such Obligor Intellectual
Property only from and after the date, if any, subsequent to such acquisition that such representations and warranties are brought
down).

 

 Section 8.15. ERISA
Compliance. Such Obligor shall comply, and to the extent applicable, shall cause each of its Subsidiaries to comply, in all
material respects with the provisions of ERISA with respect to any Title IV Plans and Multiemployer Plans to which such Obligor
or any such Subsidiary is a party as employer.

 

Section 8.16. Cash
Management.

 

(a) Subject
to Section 8.17, on and after the Closing Date (or such later date as agreed to by the Administrative Agent in its reasonable
discretion), each Obligor shall maintain all Deposit Accounts, Securities Accounts, Commodity Accounts and lockboxes (other than
Excluded Accounts) with a bank or financial institution that has executed and delivered to the Administrative Agent an account
control agreement, in form and substance reasonably acceptable to the Administrative Agent (each such Deposit Account, Securities
Account, Commodity Account and lockbox, a “Controlled Account”); and

 

(b) the
Obligors shall deposit promptly, and in any event no later than five (5) Business Days after the date of receipt thereof,
all cash, checks, drafts or other similar items of payment relating to or constituting payments made in respect of any and all
accounts and other rights and interests into a Deposit Account of an Obligor (which Deposit Account shall, on and after the Closing
Date (or such later date as agreed to by the Administrative Agent in its reasonable discretion), be a Controlled Account).

 

 Section 8.17. Post-Closing
Obligations. Within the time periods specified on Schedule 8.17 (as each may be extended by the Administrative Agent in its
reasonable discretion), complete such undertakings as are set forth on Schedule 8.17.

 

 Section 8.18. Milestone.
On or before March 31, 2019, enter into a collaboration agreement with a pharmaceutical or biotechnology company that results
in aggregate upfront fees in excess of $5,000,000.

 

 Section 8.19. Icagen-T
Lien. Within thirty (30) days after the earlier of (i) the date the Icagen-T MSA no longer prohibits Icagen-T and its Subsidiaries
from being a Subsidiary Guarantor and (ii) the date the Icagen-T MSA is terminated, Borrower shall (x) deliver all certificates
representing 100% of Icagen-T’s Equity Interests to the Administrative Agent, accompanied by undated instruments of transfer
duly executed in blank, and (y) take all such actions required (including, without limitation, all such actions described in Section
8.12) to cause Icagen-T and its Subsidiaries to become Subsidiary Guarantors and to pledge a first priority Lien on all of their
respective assets to the Administrative Agent for the benefit of the Lenders (subject to Permitted Priority Liens).

 

    	 	-59-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

 Section 8.20. Board
Observer Rights. Until the Obligations (other than the Warrant Obligations and contingent indemnification obligations for
which no claim has been made) have been paid in full in cash, Borrower shall permit the Administrative Agent on behalf of all
of the Lenders (the “Observer”) to attend and observe (but not vote) at all meetings of Borrower’s (or
any Subsidiary’s, as applicable) Board or any committee thereof (each a “Committee”), whether in person,
by telephone or otherwise as requested by the Observer. Borrower and such Subsidiaries shall notify the Observer in writing at
the same time as furnished to members of the applicable Board or Committee of (i) the date and time for each general or special
meeting of any such Board or Committee and (ii) the adoption of any resolutions or actions by any such Board or any such
Committee by written consent (describing, in reasonable detail, the nature and substance of such action). Borrower and each of
its Subsidiaries shall concurrently deliver to the Observer all notices and any materials delivered to the official members of
such Board or Committee in connection with a meeting or action to be taken by written consent, including a draft of any material
resolutions or actions proposed to be adopted by written consent. The Observer shall be free prior to such meeting or adoption
by written consent to contact members of any applicable Board or Committee and discuss the pending actions to be taken. Notwithstanding
the foregoing, the Observer shall not be entitled to receive materials relating to, or be in attendance for, any discussions relating
to topics which (x) are subject to attorney client privilege, or (y) present a conflict of interest for the Observer.
All such discussions and materials shall be subject to the confidentiality provisions set forth in Section 14.16.

 

Section 9. Negative
Covenants.

 

Each
Obligor covenants and agrees with the Lenders that, until the Commitments have expired or been terminated and all Obligations
(other than Warrant Obligations and contingent obligations as to which no claims have been asserted) have been paid in full indefeasibly
in cash:

 

Section 9.01. Indebtedness.
Such Obligor will not, and will not permit any of its Subsidiaries to, create, incur, assume or permit to exist any Indebtedness,
whether directly or indirectly, except:

 

(a) the
Obligations;

 

(b) Indebtedness
existing on the on the Closing Date and set forth on Schedule 7.13(a) and Permitted Refinancings thereof;

 

    	 	-60-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(c) accounts
payable to trade creditors for goods and services and current operating liabilities (not the result of the borrowing of money)
incurred in the ordinary course of such Obligor’s or such Subsidiary’s business in accordance with customary terms
and paid within ninety (90) days of becoming due, unless contested in good faith by appropriate proceedings and reserved for in
accordance with GAAP;

 

(d) Indebtedness
consisting of guarantees resulting from the endorsement of negotiable instruments for collection in the ordinary course of business;

 

(e) Indebtedness
of an Obligor and its Subsidiaries to the extent the same is permitted as an Investment pursuant to Section 9.05;

 

(f) Guarantees
by any Obligor of Indebtedness of any other Obligor;

 

(g) Purchase
money and capital lease financing; provided that (i) if secured, the collateral therefor consists solely of the assets
being financed, the products and proceeds thereof and books and records related thereto, and (ii) the aggregate outstanding
principal amount of such Indebtedness does not exceed $1,000,000 at any time;

 

(h) Indebtedness
under Hedging Agreements permitted by Section 9.05(f);

 

(i) Indebtedness
consisting of the financing of insurance premiums in respect of insurance policies insuring assets or businesses of an Obligor
and/or its Subsidiaries written or arranged in the ordinary course of business, in each case in an amount not to exceed the amount
of the applicable insurance premium in respect of any such policy plus interest and financing charges applicable thereto;

 

(j) Indebtedness
in respect of any agreement providing for treasury, depositary or cash management services, including in connection with any credit
cards, automated clearing house transfers of funds transaction, securities settlements, foreign exchange contracts or any similar
transfers, netting services, overdraft protections and other cash management and similar arrangements, in each case in the ordinary
course of business;

 

(k) advances
or deposits from customers or vendors received in the ordinary course of business;

 

(l) workers’
compensation claims, payment obligations in connection with health, disability or other types of social security benefits, unemployment
or other insurance obligations and reclamation and statutory obligations, in each case incurred in the ordinary course of business;

 

    	 	-61-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(m) Indebtedness
consisting of letters of credit, letters of guaranty and bankers’ acceptances to the extent incurred in the ordinary course
of business in an aggregate amount not to exceed $1,000,000;

 

(n) Indebtedness
which may be deemed to exist pursuant to any guaranties, indemnities, performance, surety, statutory, appeal or similar obligations
incurred in the ordinary course of business and Indebtedness constituting guaranties in the ordinary course of business of the
obligations of suppliers, customers, franchisees and licensees of the Borrower and its Subsidiaries;

 

(o) Indebtedness
of the Obligors and their Subsidiaries incurred pursuant to the Icagen-T Loan Documents;

 

(p)
 Indebtedness of one Obligor to another Obligor, provided that such Indebtedness shall be (A) evidenced by promissory
notes and all such notes shall be subject to a first priority Lien pursuant to the Security Agreement, (B) unsecured, and (C)
subordinated in right of payment to the payment in full of the Obligations (other than the Warrant Obligations) pursuant to the
terms of the applicable promissory notes or an intercompany subordination agreement, in each case in form and substance satisfactory
to the Administrative Agent in its sole discretion;

 

(q)
 Indebtedness owed to Pfizer, Inc. pursuant to the terms of that certain Asset Purchase and Collaboration Agreement, dated
as of June 26, 2015, by and among Pfizer Research (NC), Inc. and Borrower, as amended by that certain Amendment to Asset Purchase
and Collaboration Agreement, dated as of July 15, 2016; and

 

(r) (A)
the Bridge Notes, provided that on or prior to the Closing Date, the Bridge Notes have been amended in form and substance
satisfactory to the Administrative Agent to subordinate right of payment to the payment in full of the Obligations (other than
the Warrant Obligations), subject to permitted payments under Section 9.07, and (B) any Permitted Refinancings thereof, provided
that Borrower may elect to increase the interest rate on such Bridge Notes to 12% per annum, payable in accordance with Section
9.07 hereof.

 

Section 9.02. Liens.
Such Obligor will not, and will not permit any of its Subsidiaries to, create, incur, assume or permit to exist any Lien on any
property now owned or hereafter acquired by it or such Subsidiary, except:

 

(a) Liens
securing the Obligations;

 

(b) any
Lien on any property or asset of such Obligor or any of its Subsidiaries existing on the Closing Date and set forth on Schedule 7.13(c);
provided that (i) no such Lien shall extend to any other property or asset of such Obligor or any of its Subsidiaries
other than that which it secures on the date hereof and any cross-collateralization of other assets financed with the same holder
of such Lien, and (ii) any such Lien shall secure only those obligations which it secures on the Closing Date and extensions,
renewals and replacements thereof that do not increase the outstanding principal amount thereof, plus fees and expenses incurred
in connection therewith;

 

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    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(c) Liens
securing Indebtedness permitted by Section 9.01(g); provided that (i) such Liens are limited solely to the assets,
products, proceeds and books and records permitted to be secured pursuant to Section 9.01(g), and (ii) the Indebtedness secured
thereby does not exceed the lower of the cost or fair market value of the assets being financed or acquired and Liens incurred
in connection with extension, renewal or refinancing of such Indebtedness;

 

(d) Liens
imposed by any applicable Law arising in the ordinary course of business, including (but not limited to) carriers’, warehousemen’s,
landlord’s and mechanics’ liens and other similar Liens arising in the ordinary course of business and which (x) do
not in the aggregate materially detract from the value of the property subject thereto or materially impair the use thereof in
the operations of the business of such Person or (y) are being contested in good faith by appropriate proceedings, which proceedings
have the effect of preventing the forfeiture or sale of the property subject to such Liens and for which adequate reserves have
been made if required in accordance with GAAP;

 

(e) Liens,
pledges or deposits made in the ordinary course of business in connection with leases, or bids, contracts, appeal bonds, workers’
compensation, unemployment insurance or other similar social security legislation, and not in connection with money borrowed;

 

(f) Liens
securing Taxes, assessments and other governmental charges, the payment of which (i) is not yet delinquent or (ii) is
being contested in good faith by appropriate proceedings promptly initiated and diligently conducted and for which adequate reserves
have been made if required in accordance with GAAP;

 

(g) servitudes,
easements, rights of way, restrictions and other similar encumbrances on real property imposed by any applicable Law and Liens
consisting of zoning or building restrictions, easements, licenses, restrictions on the use of property or minor imperfections
in title thereto which, in the aggregate, are not material, and which do not in any case materially detract from the value of
the property subject thereto or interfere with the ordinary conduct of the business of any of the Obligors or any of their Subsidiaries;

 

(h) with
respect to any real property, (i) such defects or encroachments as might be revealed by an up-to-date survey of such real
property; (ii) the reservations, limitations, provisos and conditions expressed in the original grant, deed or patent of
such property by the original owner of such real property pursuant to Laws; (iii) rights of expropriation, access or user
or any similar right conferred or reserved by or in any Law, which, in the aggregate for clauses (i), (ii) and (iii), are
not material, and which do not in any case materially detract from the value of the property subject thereto or interfere with
the ordinary conduct of the business of any of the Obligors or their Subsidiaries; and (iv) leases or subleases in the ordinary
course of business;

 

    	 	-63-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(i) bankers’
liens, rights of setoff, netting and similar Liens incurred on deposits made in the ordinary course of business or otherwise in
connection with the services permitted by Section 9.01(j);

 

(j) Liens
in connection with any ordinary course interest or title of a licensor, sublicensor, lessor or sublessor not otherwise prohibited
by Section 9.13;

 

(k) deposits
made in connection with a contemplated Permitted Acquisition in an aggregate amount not to exceed ten percent (10%) of the consideration
of such Acquisition;

 

(l) Liens
incurred in connection with the Indebtedness permitted by Sections 9.01(m), and 9.01(n);

 

(m)
Liens on insurance policies and the proceeds thereof (excluding any benefits or any rights to receive payment under any insurance
policies) incurred in connection with the financing in the ordinary course of business of insurance premiums, provided,
that such Liens shall be limited only to the unused portion of the premiums payable under such insurance policies and the proceeds
of such insurance premiums;

 

(n) (i)
Restrictive Agreements permitted pursuant to Section 9.11, (ii) any customary provisions in contracts (including without limitation
leases and licenses of Intellectual Property) restricting the assignment thereof or, in the case of any lease or license, the
sublease or sublicense or other disposition of the applicable leased or licensed property, (iii) restrictions or conditions
imposed by any agreement governing secured Permitted Indebtedness permitted under Section 9.01(g), to the extent that such
restrictions or conditions apply only to the property or assets securing such Indebtedness and (iv) restrictions in agreements
related to any Asset Sale to the extent such Asset Sale would be a permitted Asset Sale under this Agreement;

 

(o) Liens
of the Obligors and their Subsidiaries granted pursuant to the Icagen-T Loan Documents; and

 

(p) Liens
in favor of customs and revenue authorities arising as a matter of law to secure payments of custom duties in connection with
the importation of goods;

 

provided
that no Lien otherwise permitted under any of the foregoing clauses shall apply to any Material Intellectual Property except
for Liens described in clauses (a), (j) and (n).

 

    	 	-64-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Section 9.03. Fundamental
Changes and Acquisitions. Such Obligor will not, and will not permit any of its Subsidiaries to, (i) enter into any transaction
of merger, amalgamation or consolidation, (ii) liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution),
(iii) make or consummate any Acquisition of any Person, (iv) acquire or create any Foreign Subsidiary, or (v) acquire
any other assets or properties (other than assets or properties in the nature of inventory, software, equipment, supplies and
other assets acquired for use in the ordinary course of business, including in connection with the expansion or replacement of
equipment used in the Borrower’s and its Subsidiaries’ facilities), except:

 

(a) transactions
permitted by Section 9.01 and 9.05;

 

(b) the
merger, amalgamation, consolidation, liquidation, winding up or dissolution of any Subsidiary Guarantor with or into any Obligor;
provided that with respect to any such transaction involving the Borrower, the Borrower must be the surviving or successor
entity of such transaction;

 

(c) the
sale, lease, transfer or other disposition by any Subsidiary of any or all of its property (upon voluntary liquidation or otherwise)
to any Obligor;

 

(d) the
sale, transfer or other disposition of the Equity Interests of any Subsidiary Guarantor to the Borrower;

 

(e) the
creation of any Subsidiary subject to compliance with Section 8.12; and

 

(f) Permitted
Acquisitions.

 

Section 9.04. Lines
of Business. Such Obligor will not, and will not permit any of its Subsidiaries to, engage in any business other than the
business engaged in on the date hereof by such Obligor or such Subsidiary or a business reasonably related, incidental or complimentary
thereto or a reasonable extension thereof or a business having a similar customer base.

 

Section 9.05. Investments.
Such Obligor will not, and will not permit any of its Subsidiaries to, make, directly or indirectly, or permit to remain outstanding
any Investments except:

 

(a) Investments
outstanding on the date hereof and identified in Schedule 9.05 and any modification, replacement, renewal or extension thereof
to the extent not involving new or additional Investments;

 

    	 	-65-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) operating
deposit accounts with banks and securities accounts with banks and other financial institutions that either qualify as an Excluded
Account or comply with Section 8.16;

 

(c) extensions
of credit in the nature of deposits, accounts receivable, trade debt granted or notes receivable arising from the purchase or
sale of goods or services in the ordinary course of business and prepaid royalties and other credit extensions and advances arising
in the ordinary course of business;

 

(d) Permitted
Cash Equivalent Investments to the extent held in a Controlled Account;

 

(e) Investments
by (i) any Obligor in any other Obligor, (ii) any Subsidiary that is not an Obligor in any other Subsidiary that is not an Obligor,
and (iii) by Borrower in Icagen-T;

 

(f) Hedging
Agreements entered into in by any Obligor or its Subsidiary in the ordinary course of business for the purpose of hedging currency
risks or interest rate risks (and not for speculative purposes) not to exceed $250,000 in the aggregate outstanding at any time;

 

(g) Investments
consisting of prepaid expenses, negotiable instruments held for collection or deposit, security deposits with utilities, landlords
and other like Persons and deposits in connection with workers’ compensation and similar deposits, in each case made in
the ordinary course of business;

 

(h) loans,
advances and guarantees to or in favor of employees, officers, directors and consultants in the ordinary course of business which
in the aggregate shall not exceed $250,000 outstanding at any time;

 

(i) Investments
(i) in connection with a Permitted Acquisition and (ii) in connection with Casualty Events permitted by Section 3.03(b);

 

(j) Investments
received in connection with any Insolvency Proceedings in respect of any customers, suppliers or clients or in settlement of delinquent
obligations of, and other disputes with, customers, suppliers or clients;

 

(k) Investments
permitted by Sections 9.01, 9.02, 9.03, 9.06 and 9.09;

 

(l) Investments
in newly created Subsidiaries to the extent such Subsidiary complies with Section 8.12 to the extent applicable; and

 

    	 	-66-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(m) so
long as no Default or Event of Default has occurred and is continuing at the time such Investments are made, other Investments
in an aggregate principal amount not to exceed $500,000 at any time outstanding.

 

Section 9.06. Restricted
Payments. Such Obligor will not, and will not permit any of its Subsidiaries to, declare or make, or agree to pay or make,
directly or indirectly, any Restricted Payment; provided that the following Restricted Payments shall be permitted so long
as no Event of Default has occurred and is continuing or could reasonably be expected to occur or result from such Restricted
Payment:

 

(a) distributions
with respect to the Borrower’s Equity Interests payable solely in shares of its Qualified Equity Interests (or the equivalent
thereof);

 

(b) the
Borrower’s purchase, redemption, retirement, or other acquisition of shares of its Equity Interests with the proceeds received
from a substantially concurrent issue of new shares of its Qualified Equity Interests;

 

(c) upon
the death, incapacity or termination of any stockholder or the exercise of a right of first refusal or similar right in respect
of any stockholder, the Borrower may repurchase the stock of such stockholder or such stockholder’s family, trusts, estates
and heirs pursuant to stock plans or stock repurchase agreements in an amount not to exceed $250,000 per fiscal year;

 

(d) cash
in lieu of the issuance of fractional shares upon the conversion of convertible securities (or in connection with the exercise
of warrants or similar securities) not to exceed $100,000 in the aggregate;

 

(e) any
non-cash (other than cash in lieu of fractional shares) conversion or exercise requests in respect of any convertible securities,
options or warrants of the Borrower into Equity Interests of the Borrower pursuant to the terms of such convertible securities,
options or warrants or otherwise in exchange therefor;

 

(f) distributions
paid by any Subsidiary directly or indirectly to any Obligor;

 

(g) cash
payments made to redeem, purchase, repurchase or retire the Warrant Obligations in accordance with the terms of the Warrant;

 

(h) payments
of Indebtedness permitted pursuant to Section 9.07;

 

(i) the
non-cash accrual of dividends pursuant to the terms of the Series C Preferred Stock; and

 

solely
to the extent considered a Restricted Payment, Investments permitted pursuant to Section 9.05 and transactions permitted pursuant
to Section 9.03.

 

    	 	-67-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Section 9.07. Payments
of Indebtedness. Such Obligor will not, and will not permit any of its Subsidiaries to, make any payments in respect of any
Indebtedness for borrowed money other than (i) payments of the Obligations, (ii) payments of the “Obligations” (as
defined in the Icagen-T Credit Agreement), pursuant to the terms of the Icagen-T Credit Agreement, (iii) scheduled payments of
any other Permitted Indebtedness (other than the Bridge Notes), (iv) non-cash payments of interest under the Bridge Notes, (v)
Permitted Refinancings of Permitted Indebtedness, and (vi) cash payments of principal and interest on the Bridge Notes (including
any accrued interest thereon) so long as at the time of such payment and after giving effect thereto, no Default or Event of Default
shall have occurred and is continuing.

 

Section 9.08. Change
in Fiscal Year. Such Obligor will not, and will not permit any of its Subsidiaries to, change the last day of its fiscal year
from that in effect on the date hereof, except to change the fiscal year of a Subsidiary acquired in connection with a Permitted
Acquisition to conform its fiscal year to that of the Borrower.

 

Section 9.09. Sales
of Assets, Etc. Such Obligor will not, and will not permit any of its Subsidiaries to, sell, lease, transfer, or otherwise
dispose of any of its assets or property (including accounts receivable and capital stock of Subsidiaries), or forgive, release
or compromise any amount owed to such Obligor or Subsidiary, in each case, in any single transaction or series of transactions
(any thereof, an “Asset Sale”), except (so long as such proposed Asset Sale does not result in, or could not
reasonably be expected to result in, an Event of Default):

 

(a) sales
or leases of inventory in the ordinary course of its business on ordinary business terms;

 

(b) the
forgiveness, release, discounts or compromise of any amount owed to any Obligor or Subsidiary in the ordinary course of business;

 

(c) Asset
Sales that constitute licenses of Intellectual Property in the ordinary course of business that are not otherwise prohibited by
Section 9.13;

 

(d) transfers
of assets or property (other than any Material Intellectual Property) by any Subsidiary Guarantor to any Obligor;

 

(e) dispositions
of any assets or property (other than any Material Intellectual Property) that is obsolete or worn out or no longer used or useful
in the business;

 

(f) dispositions
resulting from Casualty Events;

 

    	 	-68-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(g) in
connection with any transaction permitted by Sections 9.02, 9.03, 9.05 and 9.06;

 

(h) disposition
of cash or Permitted Cash Equivalent Investments; and

 

(i) so
long as no Default or Event of Default has occurred and is continuing at the time of such sale, other Asset Sales not to exceed
$250,000 in the aggregate per fiscal year.

 

Section 9.10. Transactions
with Affiliates. Such Obligor will not, and will not permit any of its Subsidiaries to, sell, lease, license or otherwise
transfer any assets to, or purchase, lease, license or otherwise acquire any assets from, or otherwise engage in any other transactions
with, any of its Affiliates, except:

 

(a) transactions
between or among Borrower or any Subsidiary of Borrower and any other Subsidiary of Borrower;

 

(b) any
transaction permitted by Section 9.01, 9.03, 9.05, 9.06 or 9.09;

 

(c) customary
compensation and indemnification of, and other employment arrangements with, directors, officers and employees of such Obligor
or any of its Subsidiaries in the ordinary course of business;

 

(d) other
transactions having terms that are no less favorable (including the amount of cash or other consideration received or paid by
any Obligor) to any Obligor or any of its Subsidiaries, as the case may be, than those that would be obtained in a comparable
arm’s-length transaction with a Person not an Affiliate of such Person; and

 

(e) the
transactions set forth on Schedule 9.10.

 

Section 9.11. Restrictive
Agreements. Such Obligor will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur
or be a party to any Restrictive Agreement; provided that the foregoing shall not apply to (i) restrictions and conditions
imposed by Law or the Loan Documents and (ii) any Restrictive Agreement to which any Obligor or any of its Subsidiaries is
party on the date hereof and that is listed on Schedule 7.15.

 

Section 9.12. Modifications
and Terminations of Material Agreements and Organic Documents. Such Obligor will not, and will not permit any of its Subsidiaries
to:

 

(a) amend,
modify or terminate any Organic Document that adversely affects the Lenders (solely in their capacity as Lenders and not as shareholders)
in any material respect without the prior written consent of the Administrative Agent which shall not be unreasonably withheld,
conditioned or delayed; or

 

    	 	-69-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) take
or omit to take any action that results in the termination of, or permits any other Person to terminate, any Material Agreement
or Material Intellectual Property that adversely affects the Lenders in any material respect, without the prior written consent
of the Administrative Agent which shall not be unreasonably withheld, conditioned or delayed.

 

Section 9.13. Licensing
of Intellectual Property. No Obligor shall enter into an exclusive license of its Material Intellectual Property without the
prior written consent of the Administrative Agent.

 

Section 9.14. Sales
and Leasebacks. Except as disclosed on Schedule 9.14, such Obligor will not, and will not permit any of its Subsidiaries
to, become liable, directly or indirectly, with respect to any lease, whether an operating lease or a Capital Lease Obligation,
of any property (whether real, personal, or mixed), whether now owned or hereafter acquired, (i) which such Person has sold
or transferred or is to sell or transfer to any other Person and (ii) which such Obligor or Subsidiary intends to use for
substantially the same purposes as property which has been or is to be sold or transferred.

 

Section 9.15. Hazardous
Material. Such Obligor will not, and will not permit any of its Subsidiaries to, use, generate, manufacture, install, treat,
release, store or dispose of any Hazardous Material, except in compliance with all applicable Environmental Laws or where the
failure to comply would not reasonably be expected to result in a Material Adverse Effect.

 

Section 9.16. Accounting
Changes. Such Obligor will not, and will not permit any of its Subsidiaries to, make any significant change in accounting
treatment or reporting practices, except as required or permitted by GAAP.

 

Section 9.17. Compliance
with ERISA. No ERISA Affiliate shall cause or suffer to exist (i) any ERISA Event that would reasonably be expected to
result in the imposition of a Lien under ERISA or Code Section 430(k) on the assets or property of any Obligor or any of its Subsidiaries
or (ii) any other ERISA Event that would reasonably be expected, individually or in the aggregate, to have a Material Adverse
Effect.

 

Section 10. Financial
Covenants.

 

Section 10.01. Minimum
Liquidity. Borrower and its Subsidiaries shall maintain a minimum aggregate balance of (x) from the Closing Date until March
31, 2019, $1,000,000, and (y) at all times thereafter, $1,500,000, in each case in cash in one or more accounts (which accounts
shall, on and after the Closing Date (or such later date as agreed to by the Administrative Agent in its reasonable discretion),
be Controlled Accounts), free and clear of all Liens, other than Liens granted hereunder in favor of the Administrative Agent
and other Permitted Liens.

 

    	 	-70-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Section 10.02. Minimum
Revenue. On each date set forth below (a “Calculation Date”) under the heading “Calculation Date,”
the Consolidated Net Revenue for the trailing twelve-month period ended on such Calculation Date shall not be less than the amount
set forth opposite such Calculation Date:

 

[*****]

 

 

 

 

Section 11. Events
of Default.

 

Section 11.01. Events
of Default. Each of the following events shall constitute an “Event of Default”:

 

(a) Principal
or Interest Payment Default. The Borrower shall fail to pay any principal of or interest on the Term Loan, when and as the
same shall become due and payable, whether at the due date thereof, at a date fixed for prepayment thereof or otherwise.

 

(b) Other
Payment Defaults. Any Obligor shall fail to pay any Obligation (other than an amount referred to in Section 11.01(a))
when and as the same shall become due and payable, and such failure shall continue unremedied for a period of three (3) Business
Days.

 

(c) Representations
and Warranties. Any representation or warranty made or deemed made by or on behalf of any Obligor in this Agreement or any
other Loan Document or any amendment or modification hereof or thereof, or in any report, certificate, financial statement or
other document furnished pursuant to or in connection with this Agreement or any other Loan Document or any amendment or modification
hereof or thereof, shall: (i) prove to have been incorrect when made or deemed made to the extent that such representation
or warranty contains any materiality or Material Adverse Effect qualifier; or (ii) prove to have been incorrect in any material
respect when made or deemed made to the extent that such representation or warranty does not otherwise contain any materiality
or Material Adverse Effect qualifier.

 

    	 	-71-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(d) Certain
Covenants. Any Obligor shall fail to observe or perform any covenant, condition or agreement contained in Sections 8.03
(with respect to such Obligor’s existence), 8.11, 8.12, 8.14, 8.16, Section 9 or Section 10.

 

(e) Other
Covenants. Any Obligor shall fail to observe or perform any covenant or agreement contained in this Agreement (other than
those specified in Section 11.01(a), (b) or (d)) or any other Loan Document, and, in the case of any failure that is
capable of cure, such failure shall continue unremedied for a period of thirty (30) or more days.

 

(f) Payment
Default on Other Indebtedness. Any Obligor or any of its Subsidiaries shall fail to make any payment (whether of principal
or interest and regardless of amount) in respect of (i) any Material Indebtedness, or (ii) Indebtedness under the Icagen-T Credit
Agreement, in each case, when and as same shall become due and payable after giving effect to any applicable grace or cure period
as originally provided by the terms of such Indebtedness.

 

(g) Other
Defaults on Other Indebtedness. (i) Any material breach of, or “event of default” or similar event under, the
Contract governing any Material Indebtedness shall occur, or (ii) any event or condition occurs (x) that results in any Material
Indebtedness becoming due prior to its scheduled maturity or (y) that enables or permits (with or without the giving of notice,
the lapse of time or both) the holder or holders of such Material Indebtedness or any trustee or agent on its or their behalf
to cause such Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof,
prior to its scheduled maturity; provided that this Section 11.01(g) shall not apply to secured Indebtedness that
becomes due as a result of the voluntary sale or transfer of the property or assets securing such Material Indebtedness; provided
further that if the holder or holders of such Material Indebtedness or any trustee or agent on its or their behalf waives
any such event or condition within the time period set forth therein, then such event or condition shall not be an Event of Default
hereunder.

 

(h) Other
Defaults under the Icagen-T Credit Agreement. Any “Event of Default” under the Icagen-T Credit Agreement shall
occur that is not cured or waived within the grace period set forth therein.

 

    	 	-72-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(i) Insolvency,
Bankruptcy, Etc. (i) Any Obligor or any of its Subsidiaries generally does not pay its debts as the same become due or
admits in writing its inability to pay its debts generally; (ii) any Obligor or any of its Subsidiaries institutes any Insolvency
Proceeding; (iii) any Obligor or any of its Subsidiaries takes any corporate action to approve, effect, consent to or authorize
any of the actions described in Section 11.01(i)(ii); or (iv) any Insolvency Proceeding is filed against any Obligor or any
of its Subsidiaries and, such Insolvency Proceeding continues undismissed, or unstayed and in effect, for a period of sixty (60) days
after the institution thereof.

 

(j) Judgments.
One (1) or more judgments for the payment of money in an aggregate amount in excess of $1,000,000 (to the extent not covered
by independent third party insurance as to which the insurer has been notified of the potential claim and does not dispute coverage)
shall be rendered against any Obligor or any of its Subsidiaries or any combination thereof and the same shall remain undismissed,
unsatisfied or undischarged for a period of sixty (60) consecutive calendar days during which execution shall not be
effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of any Obligor
to enforce any such judgment.

 

(k) ERISA
and Pension Plans. An ERISA Event shall have occurred that, in the reasonable determination of the Administrative Agent, when
taken together with all other ERISA Events that have occurred, would reasonably be expected to result in the imposition of a Lien
(other than a Permitted Lien) under ERISA or Code Section 430(k) on a material portion of the assets or property of any Obligor
or any of its Subsidiaries or have a Material Adverse Effect.

 

(l) Change
of Control, Etc. A Change of Control shall have occurred.

 

(m) Material
Adverse Change. A Material Adverse Change shall have occurred.

 

(n) Impairment
of Security, Etc. If any of the following events occurs: (i) Any Lien created by any of the Security Documents, shall
at any time not constitute a valid and perfected Lien on the applicable Collateral in favor of the Secured Parties, free and clear
of all other Liens (other than Permitted Liens or other Liens on Collateral not exceeding $100,000 in the aggregate) to the extent
required by the Loan Documents, except due to the action or inaction of the Administrative Agent, (ii) except for expiration
in accordance with its terms, any of the Security Documents or any Guarantee of any of the Obligations (including that contained
in Section 12) shall for whatever reason cease to be in full force and effect, or (iii) any Obligor shall, directly
or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability of any such Lien or any Loan
Document.

 

    	 	-73-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(o) Regulatory
Matters, Etc. (i) The FDA or any other Regulatory Authority initiates enforcement action against, or issues a warning letter
with respect to, any Obligor or any of its Subsidiaries, or the manufacturing facilities therefore, that causes such Person the
loss of more than ten percent (10%) of the Borrower’s revenue for the twelve (12) month period following such enforcement
action as compared to the same period ending on the same date in the prior period, or (ii) any Obligor enters into a settlement
agreement with the FDA or any other Regulatory Authority that results in aggregate liability as to any single or related series
of transactions, incidents or conditions, in excess of $500,000 to the extent not covered by insurance.

 

Section 11.02. Remedies.
Upon the occurrence of any Event of Default (other than an Event of Default described in Section 11.01(i)), then, and in
every such event, and at any time thereafter during the continuance of such event, the Administrative Agent may, by notice to
the Borrower, declare the Term Loan then outstanding to be due and payable in whole (or in part, in which case any principal not
so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Term Loan
so declared to be due and payable, together with accrued interest thereon and all fees and other Obligations, shall become due
and payable immediately (in the case of the Term Loan, at the Prepayment Price therefor), without presentment, demand, protest
or other notice of any kind, all of which are hereby waived by each Obligor; and in case of an Event of Default described in Section 11.01(i),
the principal of the Term Loan then outstanding, together with accrued interest thereon and all fees and other Obligations, shall
automatically become due and payable immediately (in the case of the Term Loan, at the Prepayment Price therefor), without presentment,
demand, protest or other notice of any kind, all of which are hereby waived by each Obligor.

 

Section 11.03. Additional
Remedies. Upon the occurrence and during the continuance of any Event of Default, (a) if any Obligor or any of its Subsidiaries
shall be in default under a Material Agreement, the Lenders shall have the right (but not the obligation) to cause the default
or defaults under such Material Agreement to be remedied (including without limitation by paying any unpaid amount thereunder)
and otherwise exercise any and all rights of such Obligor or Subsidiary, as the case may be, thereunder, as may be necessary to
prevent or cure any default and (b) without limiting the foregoing, upon any such default, each Obligor shall promptly execute,
acknowledge and deliver to the Lenders such instruments as may reasonably be required of such Obligor to permit the Lenders to
cure any default under the applicable Material Agreement or permit the Lenders to take such other action required to enable the
Lenders to cure or remedy the matter in default and preserve the interests of the Lenders. Any amounts paid by the Lenders pursuant
to and in accordance with this Section 11.03 shall be payable on demand by the Obligors, shall accrue interest at the Default
Rate if not paid on demand and shall constitute “Obligations”.

 

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 Section 11.04. Prepayment
Premium and Prepayment Price. For the avoidance of doubt, the applicable Prepayment Premium (as a component of the Prepayment
Price) shall be due and payable at any time the Term Loan becomes due and payable in full prior to the Maturity Date in accordance
with the terms hereof, whether due to acceleration pursuant to the terms of this Agreement (in which case it shall be due immediately,
upon the giving of notice to the Borrower or automatically by operation of law or otherwise in accordance with Section 11.02)
(including, without limitation, on account of any bankruptcy filing). In view of the impracticability and extreme difficulty of
ascertaining the actual amount of damages to the Lenders or profits lost by the Lenders as a result of such acceleration, and
by mutual agreement of the parties as to a reasonable estimation and calculation of the lost profits or damages of the Lenders,
the Prepayment Premium shall be due and payable upon such date. Each Obligor hereby waives any defense to payment, whether such
defense may be based in public policy, ambiguity, or otherwise. The Obligors and the Lenders acknowledge and agree that any Prepayment
Premium due and payable in accordance with this Agreement shall not constitute unmatured interest, whether under Section 5.02(b)(3)
of the Bankruptcy Code or otherwise. Each Obligor further acknowledges and agrees, and waives any argument to the contrary, that
payment of such amount does not constitute a penalty or an otherwise unenforceable or invalid obligation.

 

Section 12. Guarantee.

 

Section 12.01. The
Guarantee. The Subsidiary Guarantors hereby jointly and severally guarantee to the Administrative Agent and the Lenders, and
their successors and assigns, the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of
the principal of and interest on the Term Loan, all fees and other amounts and Obligations from time to time owing to the Administrative
Agent and the Lenders by the Borrower and each other Obligor under this Agreement or under any other Loan Document, in each case
strictly in accordance with the terms hereof and thereof (such obligations being herein collectively called the “Guaranteed
Obligations”). The Subsidiary Guarantors hereby further jointly and severally agree that if the Borrower or any other
Obligor shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any of the Guaranteed Obligations,
the Subsidiary Guarantors will promptly pay the same, without any demand or notice whatsoever, and that in the case of any extension
of time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at
extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal.

 

Section 12.02. Obligations
Unconditional. The obligations of the Subsidiary Guarantors under Section 12.01 are absolute and unconditional, joint
and several, irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the Borrower
under this Agreement or any other agreement or instrument referred to herein, or any substitution, release or exchange of any
other guarantee of or security for any of the Guaranteed Obligations, and, to the fullest extent permitted by Law, irrespective
of any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or
guarantor, it being the intent of this Section 12.02 that the obligations of the Subsidiary Guarantors hereunder shall be
absolute and unconditional, joint and several, under any and all circumstances. Without limiting the generality of the foregoing,
it is agreed that the occurrence of any one or more of the following shall not alter or impair the liability of the Subsidiary
Guarantors hereunder, which shall remain absolute and unconditional as described above:

 

(a) at
any time or from time to time, without notice to the Subsidiary Guarantors, the time for any performance of or compliance with
any of the Guaranteed Obligations shall be extended, or such performance or compliance shall be waived;

 

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(b) any
of the acts mentioned in any of the provisions of this Agreement or any other agreement or instrument referred to herein shall
be done or omitted;

 

(c) the
maturity of any of the Guaranteed Obligations shall be accelerated, or any of the Guaranteed Obligations shall be modified, supplemented
or amended in any respect, or any right under this Agreement or any other agreement or instrument referred to herein shall be
waived or any other guarantee of any of the Guaranteed Obligations or any security therefor shall be released or exchanged in
whole or in part or otherwise dealt with; or

 

(d) any
lien or security interest granted to, or in favor of, the Secured Parties as security for any of the Guaranteed Obligations shall
fail to be perfected.

 

The
Subsidiary Guarantors hereby expressly waive diligence, presentment, demand of payment, protest and all notices whatsoever, and
any requirement that the Administrative Agent or any Lender exhaust any right, power or remedy or proceed against the Borrower
under this Agreement or any other agreement or instrument referred to herein, or against any other Person under any other guarantee
of, or security for, any of the Guaranteed Obligations.

 

Section 12.03. Reinstatement.
The obligations of the Subsidiary Guarantors under this Section 12 shall be automatically reinstated if and to the extent
that for any reason any payment by or on behalf of the Borrower in respect of the Guaranteed Obligations is rescinded or must
be otherwise restored by any holder of any of the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy
or reorganization or otherwise, and the Subsidiary Guarantors jointly and severally agree that they will indemnify the Administrative
Agent and the Lenders on demand for all reasonable costs and expenses (including fees of counsel) incurred by such Persons in
connection with such rescission or restoration, including any such costs and expenses incurred in defending against any claim
alleging that such payment constituted a preference, fraudulent transfer or similar payment under any bankruptcy, insolvency or
similar Law.

 

Section 12.04. Subrogation.
The Subsidiary Guarantors hereby jointly and severally agree that, until the payment and satisfaction in full of all Guaranteed
Obligations and the expiration and termination of the Commitments, they shall not exercise any right or remedy arising by reason
of any performance by them of their guarantee in Section 12.01, whether by subrogation or otherwise, against the Borrower
or any other guarantor of any of the Guaranteed Obligations or any security for any of the Guaranteed Obligations.

 

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Section 12.05. Remedies.
The Subsidiary Guarantors jointly and severally agree that, as between the Subsidiary Guarantors, on one hand, and the Administrative
Agent and the Lenders, on the other hand, the obligations of the Borrower under this Agreement and under the other Loan Documents
may be declared to be forthwith due and payable as provided in Section 11 (and shall be deemed to have become automatically
due and payable in the circumstances provided in Section 11) for purposes of Section 12.01 notwithstanding any stay,
injunction or other prohibition preventing such declaration (or such obligations from becoming automatically due and payable)
as against the Borrower and that, in the event of such declaration (or such obligations being deemed to have become automatically
due and payable), such obligations (whether or not due and payable by the Borrower) shall forthwith become due and payable by
the Subsidiary Guarantors for purposes of Section 12.01.

 

Section 12.06. Instrument
for the Payment of Money. Each Subsidiary Guarantor hereby acknowledges that the guarantee in this Section 12 constitutes
an instrument for the payment of money, and consents and agrees that the Administrative Agent and the Lenders, at their sole option,
in the event of a dispute by such Subsidiary Guarantor in the payment of any moneys due hereunder, shall have the right to proceed
by motion for summary judgment in lieu of complaint pursuant to N.Y. Civ. Prac. L&R § 3213.

 

Section 12.07. Continuing
Guarantee. The guarantee in this Section 12 is a continuing guarantee, and shall apply to all Guaranteed Obligations
whenever arising.

 

Section 12.08. Rights
of Contribution. The Subsidiary Guarantors hereby agree, as between themselves, that if any Subsidiary Guarantor shall become
an Excess Funding Guarantor (as defined below) by reason of the payment by such Subsidiary Guarantor of any Guaranteed Obligations,
each other Subsidiary Guarantor shall, on demand of such Excess Funding Guarantor (but subject to the next sentence), pay to such
Excess Funding Guarantor an amount equal to such Subsidiary Guarantor’s Fair Share (as defined below and determined, for
this purpose, without reference to the properties, debts and liabilities of such Excess Funding Guarantor) of the Excess Payment
(as defined below) in respect of such Guaranteed Obligations. The payment obligation of a Subsidiary Guarantor to any Excess Funding
Guarantor under this Section 12.08 shall be subordinate and subject in right of payment to the prior payment in full of the
obligations of such Subsidiary Guarantor under the other provisions of this Section 12 and such Excess Funding Guarantor
shall not exercise any right or remedy with respect to such excess until payment and satisfaction in full of all of such obligations.

 

For
purposes of this Section 12.08, (i) “Excess Funding Guarantor” means, in respect of any Guaranteed
Obligations, a Subsidiary Guarantor that has paid an amount in excess of its Fair Share of such Guaranteed Obligations, (ii) “Excess
Payment” means, in respect of any Guaranteed Obligations, the amount paid by an Excess Funding Guarantor in excess of
its Fair Share of such Guaranteed Obligations and (iii) “Fair Share” means, for any Subsidiary Guarantor,
the ratio (expressed as a percentage) of (x) the amount by which the aggregate present fair saleable value of all properties
of such Subsidiary Guarantor (excluding any shares of stock of any other Subsidiary Guarantor) exceeds the amount of all the debts
and liabilities of such Subsidiary Guarantor (including contingent, subordinated, unmatured and unliquidated liabilities, but
excluding the obligations of such Subsidiary Guarantor hereunder and any obligations of any other Subsidiary Guarantor that have
been guaranteed by such Subsidiary Guarantor) to (y) the amount by which the aggregate fair saleable value of all properties
of all of the Subsidiary Guarantors exceeds the amount of all the debts and liabilities (including contingent, subordinated, unmatured
and unliquidated liabilities, but excluding the obligations of the Borrower and the Subsidiary Guarantors hereunder and under
the other Loan Documents) of all of the Subsidiary Guarantors, determined (A) with respect to any Subsidiary Guarantor that
is a party hereto on the Closing Date, as of the Closing Date, and (B) with respect to any other Subsidiary Guarantor, as
of the date such Subsidiary Guarantor becomes a Subsidiary Guarantor hereunder.

 

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Section 12.09. General
Limitation on Guarantee Obligations. In any action or proceeding involving any provincial, territorial or state corporate
law, or any state or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally,
if the obligations of any Subsidiary Guarantor under Section 12.01 would otherwise, taking into account the provisions of
Section 12.08, be held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors,
on account of the amount of its liability under Section 12.01, then, notwithstanding any other provision hereof to the contrary,
the amount of such liability shall, without any further action by such Subsidiary Guarantor, the Administrative Agent, any Lender
or any other Person, be automatically limited and reduced to the highest amount that is valid and enforceable and not subordinated
to the claims of other creditors as determined in such action or proceeding.

 

Section 13. Administrative
Agent.

 

Section 13.01. Appointment.
Each of the Lenders hereby irrevocably appoints Perceptive Credit Holdings II, LP, a Delaware limited partnership, to act on its
behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take
such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof,
together with such actions and powers as are reasonably incidental thereto. The provisions of this Section 13 are solely
for the benefit of the Administrative Agent and the Lenders, and neither the Borrower nor any other Obligor will have rights as
a third-party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent”
herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to
connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead,
such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between
contracting parties.

 

Section 13.02. Rights
as a Lender. The Person serving as the Administrative Agent hereunder will have the same rights and powers in its capacity
as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent, and the term “Lender”
or “Lenders” will, unless otherwise expressly indicated or unless the context otherwise requires, include the Person
serving as the Administrative Agent hereunder in its individual capacity to the extent such Person is a Lender. Such Person and
its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory
capacity for, and generally engage in any kind of business with, the Borrower, the other Obligors or any other Subsidiaries or
Affiliates of the Obligors as if such Person were not the Administrative Agent hereunder and without any duty to account therefor
to the Lenders.

 

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Section 13.03. Exculpatory
Provisions. (a) The Administrative Agent will not have any duties or obligations except those expressly set forth herein
and in the other Loan Documents, and its duties hereunder are administrative in nature. Without limiting the generality of the
foregoing, the Administrative Agent:

 

(i) will
not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

 

(ii) will
not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed
in writing by the Majority Lenders (or such other number or percentage of the Lenders as will be expressly provided for herein
or in the other Loan Documents); provided that the Administrative Agent will not be required to take any action that, in
its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document
or applicable Law, including any action that may be in violation of the automatic stay under any Insolvency Proceeding; and

 

(iii) will
not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and will not be liable for
the failure to disclose, any information relating to the Obligors or any of its Subsidiaries or Affiliates that is communicated
to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.

 

(b) The
Administrative Agent will not be liable for any action taken or not taken by it (i) with the consent or at the request of
the Majority Lenders (or such other number or percentage of the Lenders as will be necessary, or as the Administrative Agent believes
in good faith will be necessary, under the circumstances), or (ii) in the absence of its own gross negligence or willful
misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Administrative Agent will
be deemed not to have knowledge of any Default unless and until notice describing such Default is given to the Administrative
Agent in writing by the Borrower or a Lender.

 

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(c) The
Administrative Agent will not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty
or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate,
report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance
or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of
any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or
any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Section 6 or elsewhere
herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent.

 

Section 13.04. Reliance
by Administrative Agent. The Administrative Agent will be entitled to rely upon, and will not incur any liability for relying
upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message,
Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise
authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone
and believed by it to have been made by the proper Person, and will not incur any liability for relying thereon. In determining
compliance with any condition hereunder to the making of the Term Loan that by its terms must be fulfilled to the satisfaction
of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative
Agent has received notice to the contrary from such Lender prior to the making of such Term Loan. The Administrative Agent may
consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and
will not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

 

Section 13.05. Delegation
of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or
under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative
Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective
Affiliates. The exculpatory provisions of this Section will apply to any such sub-agent and to the Affiliates of the Administrative
Agent and any such sub-agent, and will apply to their respective activities in connection with the syndication of the facility
as well as activities as Administrative Agent. The Administrative Agent will not be responsible for the negligence or misconduct
of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment
that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.

 

Section 13.06. Resignation
of Agent. (a) The Administrative Agent may at any time give notice of its resignation to the Lenders and the Borrower,
which notice shall set forth the effective date of such resignation (the “Resignation Effective Date”), such
date not to be earlier than the thirtieth (30th) day following the date of such notice. The Majority Lenders and the Borrower
shall mutually agree upon a successor to the Administrative Agent. If the Majority Lenders and the Borrower are unable to so mutually
agree and no successor shall have been appointed within twenty-five (25) days after the retiring Administrative Agent gives
notice of its resignation, then the retiring Administrative Agent may (but will not be obligated to), on behalf of the Lenders,
appoint a successor Administrative Agent it shall designate (in its reasonable discretion after consultation with the Borrower
and the Majority Lenders). Whether or not a successor has been appointed, such resignation will become effective in accordance
with such notice on the Resignation Effective Date.

 

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(b) With
effect from the Resignation Effective Date (i) the retiring Administrative Agent will be discharged from its duties and obligations
hereunder and under the other Loan Documents (except that in the case of any Collateral held by the Administrative Agent on behalf
of the Lenders under any of the Loan Documents, the retiring Administrative Agent will continue to hold such Collateral until
such time as a successor Administrative Agent is appointed) and (ii) except for any indemnity payments owed to the retiring
Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative
Agent will instead be made by or to each Lender directly, until such time, if any, as the Majority Lenders appoint a successor
Administrative Agent as provided for above. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder,
such successor will succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Administrative
Agent (other than any rights to indemnity payments owed to the retiring Administrative Agent), and the retiring Administrative
Agent will be discharged from all of its duties and obligations hereunder or under the other Loan Documents. The fees payable
by the Borrower to a successor Administrative Agent will be the same as those payable to its predecessor unless otherwise agreed
between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other
Loan Documents, the provisions of this Section 13 and Sections 14.03 and 14.04 will continue in effect for the benefit
of such retiring Administrative Agent, its sub-agents and their respective Affiliates in respect of any actions taken or omitted
to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent.

 

Section 13.07. Non-Reliance
on Administrative Agent and Other Lenders. Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent or any other Lender or any of their Affiliates and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will,
independently and without reliance upon the Administrative Agent or any other Lender or any of their Affiliates and based on such
documents and information as it will from time to time deem appropriate, continue to make its own decisions in taking or not taking
action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder
or thereunder.

 

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Section 13.08. Administrative
Agent May File Proofs of Claim. In case of the pendency of any Insolvency Proceeding or any other judicial proceeding relative
to the Borrower, the Administrative Agent (irrespective of whether the principal of the Term Loan will then be due and payable
as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent has made any demand on
the Borrower) will be entitled and empowered (but not obligated), by intervention in such proceeding or otherwise:

 

(a) to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Term Loan and all
other Obligations that are owing and unpaid hereunder or under any other Loan Document and to file such other documents as may
be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective
agents and counsel and all other amounts due the Lenders and the Administrative Agent under this Agreement or any other Loan Document)
allowed in such judicial proceeding; and

 

(b) to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same.

 

Any
custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is
hereby authorized by each Lender to make any payments of the type described above in this Section 13.08 to the Administrative
Agent and, in the event that the Administrative Agent consents to the making of such payments directly to the Lenders, to pay
to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative
Agent and its agents and counsel, and any other amounts due the Administrative Agent under this Agreement or any other Loan Document.

 

Section 13.09. Collateral
and Guaranty Matters; Appointment of Collateral Agent. (a) Without limiting the provisions of Section 13.08, the
Lenders irrevocably agree as follows:

 

(i) the
Administrative Agent is authorized, at its option and in its discretion, to release any Lien on any property granted to or held
by the Administrative Agent under any Loan Document (A) on the date when all Obligations have been satisfied in full in cash
(other than Warrant Obligations and contingent obligations as to which no claims have been asserted), (B) that is sold or
otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted
under the Loan Documents, or (C) subject to Sections 14.01 and 14.04, if approved, authorized or ratified in writing
by the Majority Lenders; and

 

(ii) the
Administrative Agent is authorized, at its option and discretion, to release any Subsidiary Guarantor from its obligations hereunder
if such Person ceases to be a Subsidiary as a result of a transaction permitted under the Loan Documents.

 

Upon
request by the Administrative Agent at any time, each Lender will confirm in writing the Administrative Agent’s authority
to release or subordinate its interest in particular types or items of Collateral, or to release any Subsidiary Guarantor from
its obligations under its guaranty pursuant to this Section 13.09.

 

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(b) The
Administrative Agent will not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding
the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s
Lien thereon, or any certificate prepared by any Obligor in connection therewith, nor will the Administrative Agent be responsible
or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.

 

(c) Each
Lender hereby appoints the Administrative Agent as its collateral agent under each of the Security Documents and agrees that,
in so acting, the Administrative Agent will have all of the rights, protections, exculpations, indemnities and other benefits
provided to the Administrative Agent under this Agreement, and hereby authorizes and directs the Administrative Agent, on behalf
of such Lender and all Lenders, without the necessity of any notice to or further consent from any of the Lenders, from time to
time to (i) take any action with respect to any Collateral or any Security Document which may be necessary to perfect and
maintain perfected the Liens on the Collateral granted pursuant to any such Security Document or protect and preserve the Administrative
Agent’s ability to enforce the Liens or realize upon the Collateral, (ii) act as collateral agent for each Secured
Party for purposes of acquiring, holding, enforcing and perfecting all Liens created by the Loan Documents and all other purposes
stated therein, (iii) enter into intercreditor or subordination agreements, as the case may be, in connection with Indebtedness
permitted pursuant to Section 9.01(n), (iv) enter into non-disturbance or similar agreements in connection with licensing
agreements and arrangements permitted by this Agreement and the other Loan Documents and (v) otherwise to take or refrain
from taking any and all action that the Administrative Agent shall deem necessary or advisable in fulfilling its role as collateral
agent under any of the Security Documents.

 

Section 14. Miscellaneous.

 

Section 14.01. No
Waiver. No failure on the part of the Administrative Agent or the Lenders to exercise and no delay in exercising, and no course
of dealing with respect to, any right, power or privilege under any Loan Document shall operate as a waiver thereof, nor shall
any single or partial exercise of any right, power or privilege under any Loan Document preclude any other or further exercise
thereof or the exercise of any other right, power or privilege. The remedies provided herein are cumulative and not exclusive
of any remedies provided by law.

 

Section 14.02. Notices.
All notices, requests, instructions, directions and other communications provided for herein (including any modifications of,
or waivers, requests or consents under, this Agreement) shall be given or made in writing (including by telecopy or email) delivered,
if to the Borrower, another Obligor, the Administrative Agent or any Lender, to its address specified on the signature pages hereto
or its Guarantee Assumption Agreement, as the case may be, or at such other address as shall be designated by such party in a
written notice to the other parties. Except as otherwise provided in this Agreement, all such communications shall be deemed to
have been duly given upon receipt of a legible copy thereof, in each case given or addressed as aforesaid. All such communications
provided for herein by telecopy shall be confirmed in writing promptly after the delivery of such communication (it being understood
that non-receipt of written confirmation of such communication shall not invalidate such communication).

 

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Section 14.03. Expenses,
Indemnification, Etc.

 

(a) Closing
Expenses. The Borrower agrees to pay or reimburse the Administrative Agent and the Lenders for all of their reasonable and
documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of Chapman and Cutler LLP,
special counsel to the Administrative Agent) in connection with the negotiation, preparation, execution and delivery of this Agreement
and the other Loan Documents and the making of the Term Loan.

 

(b) Other
Expenses. The Borrower agrees to pay or reimburse (i) the Administrative Agent and the Lenders for all of their reasonable
and documented out of pocket post-closing costs and expenses in connection the negotiation or preparation of any modification,
supplement or waiver of any of the terms of this Agreement or any of the other Loan Documents (whether or not consummated) and
(ii) the Administrative Agent and the Lenders for all of their out of pocket costs and expenses (including the fees and expenses
of legal counsel) in connection with any enforcement or collection proceedings resulting from the occurrence of an Event of Default.

 

(c) Indemnification.
The Borrower hereby indemnifies the Administrative Agent, the Lenders and their respective Affiliates, directors, officers,
employees, attorneys, agents, advisors and controlling parties (each, an “Indemnified Party”) from and against,
and agrees to hold them harmless against, any and all Claims and Losses of any kind (including reasonable and documented fees
and disbursements of counsel), joint or several, that may be incurred by or asserted or awarded against any Indemnified Party,
in each case arising out of or in connection with or relating to any investigation, litigation or proceeding or the preparation
of any defense with respect thereto arising out of or in connection with or relating to this Agreement or any of the other Loan
Documents or the Transactions or any use made or proposed to be made with the proceeds of the Term Loan, whether or not such investigation,
litigation or proceeding is brought by the Borrower, any of its shareholders or creditors, an Indemnified Party or any other Person,
or an Indemnified Party is otherwise a party thereto, and whether or not any of the conditions precedent set forth in Section 6
are satisfied or the other transactions contemplated by this Agreement are consummated, except to the extent such Claim or Loss
is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s
gross negligence or willful misconduct. No Obligor shall assert any claim against any Indemnified Party, on any theory of liability,
for consequential, indirect, special or punitive damages arising out of or otherwise relating to this Agreement or any of the
other Loan Documents or any of the Transactions or the actual or proposed use of the proceeds of the Term Loan. No Lender shall
assert any claim against the Borrower or any of its Subsidiaries or any of their respective directors, officers, employees, attorneys,
agents, advisors or controlling parties on any theory of liability, for consequential, indirect, special or punitive damages arising
out of or otherwise relating to this Agreement or any of the other Loan Documents or any of the transactions contemplated hereby
or thereby or the actual or proposed use of the proceeds of the Term Loan. This Section 14.03(c) shall not apply with respect
to Taxes other than any Taxes that represent Claims and Losses arising from any non-Tax claim.

 

    	 	-84-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Section 14.04. Amendments,
Etc. Except as otherwise expressly provided in this Agreement, any provision of this Agreement and any other Loan Document
may be modified or supplemented only by an instrument in writing signed by the Borrower, the Administrative Agent and the Majority
Lenders; provided that:

 

(a) any
such modification or supplement that is disproportionately adverse to any Lender as compared to other Lenders or subjects any
Lender to any additional obligation shall not be effective without the consent of such affected Lender;

 

(b) the
consent of all of the Lenders shall be required to:

 

(i) amend,
modify, discharge, terminate or waive any of the terms of this Agreement or any other Loan Document if such amendment, modification,
discharge, termination or waiver would increase the amount of the Term Loan, reduce the fees payable hereunder, reduce interest
rates or other amounts payable with respect to the Term Loan, extend any date fixed for payment of principal, interest or other
amounts payable relating to the Term Loan or extend the repayment dates of the Term Loan;

 

(ii) amend,
modify, discharge, terminate or waive any Security Document if the effect is to release a material part of the Collateral subject
thereto other than pursuant to the terms hereof or thereof; or

 

(iii) amend
this Section 14.04.

 

Section 14.05. Successors
and Assigns.

 

(a) General.
This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors
and assigns permitted hereby; provided that the neither the Borrower nor any other Obligor may assign or transfer its rights
or obligations hereunder without the prior written consent of the Administrative Agent. No Lender may assign or otherwise transfer
any of its rights or obligations hereunder or under any of the other Loan Documents except (i) to an assignee in accordance
with the provisions of Section 14.05(b), or (ii) by way of participation in accordance with the provisions of Section 14.05(e)
(and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed
or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns
permitted hereby, Participants to the extent provided in Section 14.05(e) and, to the extent expressly contemplated hereby,
the Indemnified Parties) any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

    	 	-85-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) Assignments
by Lender. Any of the Lenders may at any time assign to one or more Eligible Transferees (or, if an Event of Default has occurred
and is continuing, to any Person) all or a portion of its rights and obligations under this Agreement (including all or a portion
of the Commitment and the Term Loan at the time owing to it) and the other Loan Documents; provided that no such assignment
shall be made to the Borrower, any Affiliate of the Borrower or any employees or directors of any Obligor at any time. Subject
to the recording thereof by the Administrative Agent pursuant to Section 14.05(d), from and after the effective date specified
in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest
assigned by such Assignment and Assumption, have the rights and obligations of such Lender under this Agreement and the other
Loan Documents, and correspondingly the assigning Lender shall, to the extent of the interest assigned by such Assignment and
Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all
of the Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) and the other
Loan Documents but shall continue to be entitled to the benefits of Section 5 and Section 14.03. Any assignment or transfer
by a Lender of rights or obligations under this Agreement that does not comply with this Section 14.05(b) shall be treated
for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 14.05(e).

 

(c) Amendments
to Loan Documents. Each of the Lenders and the Obligors agrees to enter into such amendments to the Loan Documents, and such
additional Security Documents and other instruments and agreements, in each case in form and substance reasonably acceptable to
the Lenders and the Obligors, as shall reasonably be necessary to implement and give effect to any assignment made under this
Section 14.05.

 

(d) Register.
The Administrative Agent shall maintain a copy of each Assignment and Assumption delivered to it pursuant to clause (b)
above and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts
(and stated interest) of the Term Loan owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).
The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders
shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes
of this Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from
time to time upon reasonable prior notice. The Obligations under the Loan Documents (other than the Warrant Obligations) are intended
to be maintained in, and this Section shall be construed so that the Commitments and Term Loan are at all times maintained in,
“registered form” within the meaning of Section 163(f), 871(h)(2) and 881(c)(2) of the Code and any related regulations
(and any other relevant or successor provisions of the Code or such regulations).

 

    	 	-86-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(e) Participations.
Any of the Lenders may at any time, without the consent of, or notice to, the Borrower, sell participations to any Person
which would constitute an Eligible Transferee (other than a natural person or a holding company, investment vehicle or trust for,
or owned and operated for the primary benefit of, a natural person or the Borrower or any of the Borrower’s Affiliates or
Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations
under this Agreement (including all or a portion of the Commitment and/or the Term Loan owing to it); provided that (i) such
Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible
to the other parties hereto for the performance of such obligations and (iii) the Borrower shall continue to deal solely
and directly with such Lender in connection therewith. Any agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification
or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will
not, without the consent of the Participant, agree to any amendment, modification or waiver that would (i) increase or extend
the term of such Lender’s Commitment, (ii) extend the date fixed for the payment of principal of or interest on the
Term Loan or any portion of any fee hereunder payable to the Participant, (iii) reduce the amount of any such payment of
principal, or (iv) reduce the rate at which interest is payable thereon to a level below the rate at which the Participant
is entitled to receive such interest (other than with respect to default interest). The Borrower agrees that each Participant
shall be entitled to the benefits of Section 5 (subject to the requirements and limitations therein, including the requirements
of Section 5.03(f) (it being understood that the documentation required under Section 5.03(f) shall be delivered to
the participating Lender)) to the same extent as if such Participant had acquired its interest by assignment pursuant to Section 14.05(b);
provided that such Participant shall not be entitled to receive any greater payment under Section 5 with respect to
any participation, than its participating Lender would have been entitled to receive. To the extent permitted by Law, each Participant
also shall be entitled to the benefits of Section 4.03(a) as though it were a Lender. Each Lender that sells a participation
shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name
and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Term
Loan or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender
shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant
or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations
under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment,
loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury
Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and the parties hereto shall treat
each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement
notwithstanding any notice to the contrary.

 

(f) Security
Interest. Notwithstanding anything to the contrary contained in this Section 14.05, a Lender may collaterally assign any of
its rights or obligations hereunder or under any of the other Loan Documents by way of pledge or collateral assignment of all
or a portion of such Lender’s rights under the Loan Documents to a Federal Reserve Bank provided that no such pledge or
assignment shall release such Lender from its obligations hereunder.

 

    	 	-87-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Section 14.06. Survival.
The obligations of the Borrower under Sections 5.01, 5.02, 5.03, 14.03 and the obligations of the Subsidiary Guarantors under
Section 12 (solely to the extent guaranteeing any of the obligations under the foregoing Sections) shall survive the repayment
of the Obligations and the termination of the Commitment and, in the case of the Lenders’ assignment of any interest in
the Commitment or the Term Loan hereunder, shall survive, in the case of any event or circumstance that occurred prior to the
effective date of such assignment, the making of such assignment, notwithstanding that the Lenders may cease to be “Lenders”
hereunder. In addition, each representation and warranty made herein or pursuant hereto shall survive the making of such representation
and warranty.

 

Section 14.07. Captions.
The table of contents and captions and section headings appearing herein are included solely for convenience of reference and
are not intended to affect the interpretation of any provision of this Agreement.

 

Section 14.08. Counterparts.
This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument
and any of the parties hereto may execute this Agreement by signing any such counterpart. Delivery of an executed signature page
of this Agreement by facsimile transmission or electronic transmission (in PDF format) shall be effective as delivery of a manually
executed counterpart hereof.

 

Section 14.09. Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be governed by, and construed in accordance
with, the law of the State of New York, without regard to principles of conflicts of laws that would result in the application
of the laws of any other jurisdiction; provided that Section 5-1401 of the New York General Obligations Law shall
apply.

 

Section 14.10. Jurisdiction,
Service of Process and Venue.

 

(a) Submission
to Jurisdiction. Each Obligor agrees that any suit, action or proceeding with respect to this Agreement or any other Loan
Document to which it is a party or any judgment entered by any court in respect thereof may be brought initially in the federal
or state courts in New York, New York or in the courts of its own corporate domicile and irrevocably submits to the
exclusive jurisdiction of each such court for the purpose of any such suit, action, proceeding or judgment. This Section 14.10(a)
is for the benefit of the Administrative Agent and the Lenders only and, as a result, neither the Administrative Agent nor any
Lender shall be prevented from taking proceedings in any other courts located in the United States with jurisdiction, or to extent
assets of an Obligor are or may be located in a foreign jurisdiction, in such foreign jurisdiction. To the extent allowed by any
Law, the Administrative Agent and the Lenders may take concurrent proceedings in any number of jurisdictions located in the United
States and any foreign jurisdictions where the assets of any Obligor are or may be located.

 

    	 	-88-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) Alternative
Process. Nothing herein shall in any way be deemed to limit the ability of the Lenders to serve any process or summons in
any manner permitted by Law.

 

(c) Waiver
of Venue, Etc. Each Obligor irrevocably waives to the fullest extent permitted by law any objection that it may now or hereafter
have to the laying of the venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan
Document and hereby further irrevocably waives to the fullest extent permitted by law any claim that any such suit, action or
proceeding brought in any such court has been brought in an inconvenient forum. A final judgment (in respect of which time for
all appeals has elapsed) in any such suit, action or proceeding shall be conclusive and may be enforced in any court to the jurisdiction
of which such Obligor is or may be subject, by suit upon judgment.

 

Section 14.11. Waiver
of Jury Trial. Each Obligor, the Administrative Agent and each Lender hereby
irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any suit, action
or proceeding arising out of or relating to this Agreement, the other Loan Documents or the transactions contemplated hereby or
thereby.

 

Section 14.12. Waiver
of Immunity. To the extent that any Obligor may be or become entitled to claim for itself or its property or revenues any
immunity on the ground of sovereignty or the like from suit, court jurisdiction, attachment prior to judgment, attachment in aid
of execution of a judgment or execution of a judgment, and to the extent that in any such jurisdiction there may be attributed
such an immunity (whether or not claimed), such Obligor hereby irrevocably agrees not to so claim and hereby irrevocably waives
such immunity with respect to its obligations under this Agreement and the other Loan Documents.

 

Section 14.13. Entire
Agreement. This Agreement and the other Loan Documents constitute the entire agreement among the parties with respect to the
subject matter hereof and thereof and supersede any and all previous agreements and understandings, oral or written, relating
to the subject matter hereof, including any confidentiality (or similar) agreements. Each
Obligor acknowledges, represents and warrants that in deciding to enter into this Agreement and the other Loan Documents or in
taking or not taking any action hereunder or thereunder, it has not relied, and will not rely, on any statement, representation,
warranty, covenant, agreement or understanding, whether written or oral, of or with the Lenders other than those expressly set
forth in this Agreement and the other Loan Documents.

 

Section 14.14. Severability.
If any provision hereof is found by a court to be invalid or unenforceable, to the fullest extent permitted by any applicable
Law the parties agree that such invalidity or unenforceability shall not impair the validity or enforceability of any other provision
hereof.

 

    	 	-89-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Section 14.15. No
Fiduciary Relationship. The Borrower acknowledges that the Administrative Agent and the Lenders have no fiduciary relationship
with, or fiduciary duty to, the Borrower arising out of or in connection with this Agreement or the other Loan Documents, and
the relationship between the Lenders and the Borrower is solely that of creditor and debtor. This Agreement and the other Loan
Documents do not create a joint venture among the parties.

 

Section 14.16. Confidentiality.
Each Lender agrees to keep confidential all non-public information provided to it by any Obligor pursuant to this Agreement; provided
that nothing herein shall prevent any Lender from disclosing any such information (i) to any other Lender or, subject
to a written agreement to comply with the provisions of this Section 14.16, any Affiliate of a another Lender or any prospective
assignee or participant of the Term Loan permitted by and pursuant to Section 14.05(b) or (d) that, in each case, is also
subject to confidentiality provisions at least as stringent as the provisions of this Section 14.16, (ii) subject to an agreement
to comply with the provisions of this Section, to any actual or prospective direct or indirect counterparty to any Hedging Agreement
(or any professional advisor to such counterparty), (iii) to its Affiliates employees, officers, directors, agents, attorneys,
accountants, trustees and other professional advisors (collectively, its “Related Parties”); provided that
the applicable Lender shall remain liable hereunder for any breach of this Section 14.16 by any of its Related Parties, (iv) upon
the request or demand of any Governmental Authority or any Regulatory Authority having jurisdiction over such Person or its Related
Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (v) in response
to any order of any court or other Governmental Authority or as may otherwise be required pursuant to any applicable Law, (vi) if
required to do so in connection with any litigation or similar proceeding, (vii) that has been publicly disclosed (other
than as a result of a disclosure in violation of this Section 14.16), (viii) on a confidential basis to the National
Association of Insurance Commissioners or any similar organization or any nationally recognized rating agency that requires access
to information about a Lender’s investment portfolio in connection with ratings issued with respect to such Lender, (ix) in
connection with the exercise of any remedy permitted hereunder or under any other Loan Document, (x) on a confidential basis
to (A) any rating agency in connection with rating the Borrower or its Subsidiaries or the Term Loan or (B) the CUSIP
Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers of other market identifiers
with respect to the Term Loan or (xi) to any other party that is, and is permitted pursuant to the terms hereof to be, a
party hereto; provided further that, unless specifically prohibited by applicable law or court order, each Lender shall
notify the Borrower of any request by any Governmental Authority or Regulatory Authority or representative thereof (other than
any such request in connection with any examination of the financial condition or other routine examination of such Lender by
such Governmental Authority or Regulatory Authority) for disclosure of any such non-public information prior to disclosure of
such information to enable the Borrower to seek a protection order or otherwise prevent or restrict such disclosure.

 

    	 	-90-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Section 14.17. Right
of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted by applicable Law, to set off and apply any and
all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations
(in whatever currency) at any time owing by such Lender or any such Affiliate to or for the credit or the account of the Borrower
or any other Obligor against any and all of the Obligations now or hereafter existing under this Agreement or any other Loan Document
to such Lender or its Affiliates, irrespective of whether or not such Lender or Affiliate shall have made any demand under this
Agreement or any other Loan Document and although such Obligations of the Borrower or such Obligor may be contingent or unmatured
or are owed to an Affiliate of such Lender. The rights of each Lender and its Affiliates under this Section are in addition
to other rights and remedies (including other rights of setoff) that such Lender and Affiliates may have. Each Lender agrees to
notify the Borrower promptly after any such setoff and application; provided that the failure to give such notice shall
not affect the validity of such setoff and application.

 

Section 14.18. Judgment
Currency. (a) If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder
in Dollars into another currency, the parties hereto agree, to the fullest extent permitted by Law, that the rate of exchange
used shall be that at which, in accordance with normal banking procedures, the Administrative Agent could purchase Dollars with
such other currency at the buying spot rate of exchange in the New York foreign exchange market on the Business Day immediately
preceding that on which any such judgment, or any relevant part thereof, is given.

 

(b) The
obligations of the Obligors in respect of any sum due to the Administrative Agent hereunder and under the other Loan Documents
shall, notwithstanding any judgment in a currency other than Dollars, be discharged only to the extent that on the Business Day
following receipt by the Administrative Agent of any sum adjudged to be so due in such other currency the Administrative Agent
may, in accordance with normal banking procedures, purchase Dollars with such other currency. If the amount of Dollars so purchased
is less than the sum originally due to the Administrative Agent in Dollars, the Borrower agrees, to the fullest extent that it
may effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent against
such loss. If the amount of Dollars so purchased exceeds the sum originally due to the Administrative Agent in Dollars, the Administrative
Agent shall remit such excess to the Borrower.

 

Section 14.19. USA
PATRIOT Act. The Administrative Agent and the Lenders hereby notify the Obligors that pursuant to the requirements of the
USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”),
they are required to obtain, verify and record information that identifies the Obligors, which information includes the name and
address of each Obligor and other information that will allow such Person to identify such Obligor in accordance with the Act.

 

Section 14.20. Release
of Collateral and Guarantees; Non-Disturbance Agreements. (a) The Administrative Agent hereby agrees, at the sole expense
of the Borrower, to execute any documents, releases, terminations and agreements reasonably requested by the Borrower (i) to release
any Lien on any Collateral (A) on the date when all Obligations (other than Warrant Obligations and contingent obligations as
to which no claims have been asserted) have been satisfied in full in cash, (B) that is sold or otherwise disposed of or to be
sold or otherwise disposed of as part of or in connection with an Asset Sale permitted pursuant to Section 9.09 or (C) subject
to Sections 14.01 and 14.04, if approved, authorized or ratified in writing by the Administrative Agent and (ii) to release
any Subsidiary Guarantor from its obligations as a guarantor hereunder if such Person ceases to be a Subsidiary as a result a
transaction permitted under the Loan Documents.

 

    	 	-91-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

(b) The
Administrative Agent hereby agrees to, and each Lender hereby agrees that Administrative Agent may, enter into non-disturbance
or similar agreements in connection with licensing agreements permitted by this Agreement or any other Loan Document, in each
case in form and substance reasonably satisfactory to the Administrative Agent and the counterparty or counterparties to the licensing
agreements.

 

Section 14.21. Acknowledgement
and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in
any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of
any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the
write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be
bound by:

 

(a) the
application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which
may be payable to it by any party hereto that is an EEA Financial Institution; and

 

(b) the
effects of any Bail-In Action on any such liability, including, if applicable:

 

(i) a
reduction in full or in part or cancellation of any such liability;

 

(ii) a
conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution,
its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or
other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement
or any other Loan Document; or

 

(iii) the
variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution
Authority.

 

[Signature
Pages Follow]

 

    	 	-92-	 

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

In
Witness Whereof, the parties hereto have caused
this Agreement to be duly executed and delivered as of the day and year first above written.

 

	 	Borrower:
	 	 
	 	Icagen, Inc.
	 	 
	 	By: 	/s/
Richard Cunningham
	 	 	Name: Richard Cunningham
	 	 	Title: Chief Executive Officer
	 	 
	 	Address for Notices:
	 	 
	 	4222 Emperor Blvd.
	 	Durham, NC 27703
	 	Attn: Richie Cunningham
	 	Email: rcunningham@icagen.com

 

[Signature Page to Credit Agreement and Guaranty]

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	 	Subsidiary Guarantors:
	 	 
	 	Icagen Corp., a Nevada corporation
	 	 
	 	By:	 /s/ Richard Cunningham
	 		Name: Richard Cunningham
	 		Title: Chief Executive Officer
	 	 
	 	Caldera Discovery, Inc., a Delaware corporation
	 	 
	 	By:	 /s/ Richard Cunningham
	 		Name: Richard Cunningham
	 		Title: Chief Executive Officer
	 	 
	 	XRPro Sciences, Inc., a Delaware corporation
	 	 
	 	By:	 /s/ Richard Cunningham
	 		Name: Richard Cunningham
	 		Title: Chief Executive Officer

 

[Signature Page to Credit Agreement and Guaranty]

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	 	Administrative Agent:
	 	 	 
	 	Perceptive Credit Holdings II, LP
	 	 	 
	 	By:	Perceptive Credit Opportunities GP, LLC, its general partner
	 	 	 
	 	By:	/s/ Sandeep Dixit
	 	 	Name: Sandeep Dixit
	 	 	Title: Chief Credit Officer
	 	 	 
	 	By:	/s/ Sam Chawla
	 	 	Name: Sam Chawla
	 	 	Title: Portfolio Manager

 

	 	Address for Notices:
	 	 
	 	Perceptive Credit Holdings II, LP
	 	c/o Perceptive Advisors LLC
	 	51 Astor Place, 10th Floor
	 	New York, NY  10003
	 	Attn: Sandeep Dixit
	 	Email: Sandeep@perceptivelife.com

 

[Signature Page to Credit Agreement and Guaranty]

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	 	Lenders:
	 	 	 
	 	Perceptive Credit Holdings II, LP
	 	 	 
	 	By:	Perceptive Credit Opportunities GP, LLC, its general partner
	 	 	 
	 	By:	/s/ Sandeep Dixit
	 	 	Name: Sandeep Dixit
	 	 	Title: Chief Credit Officer
	 	 	 
	 	By:	/s/ Sam Chawla
	 	 	Name: Sam Chawla
	 	 	Title: Portfolio Manager

 

	 	Address for Notices:
	 	 
	 	Perceptive Credit Holdings II, LP
	 	c/o Perceptive Advisors LLC
	 	51 Astor Place, 10th Floor
	 	New York, NY  10003
	 	Attn: Sandeep Dixit
	 	Email: Sandeep@perceptivelife.com

 

[Signature Page to Credit Agreement and Guaranty]

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
1

 

Commitments
and Warrant Shares

 

Commitments

 

	Name of Lender	 	Commitment Amount
	Perceptive Credit Holdings II, LP	 	$ 7,250,000

 

Warrant
Shares

 

	Name of Lender	 	Warrant Shares
	Perceptive Credit Holdings II, LP	 	723,550-aggregate number of shares to 

be issued by Icagen, Inc. under the 

Credit Agreements for the loans to 

Icagen, Inc. and Icagen-T, Inc.

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.05(b)

 

Obligor
Intellectual Property

 

List
of Patents and Trademarks

 

Patents

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	METHOD FOR DETECTING BINDING EVENTS USING MICRO-X-RAY FLUORESCENCE SPECTROMETRY	 	United States	 	09/859,701	 	 	2003-0027129 	 	 	 	7,858,385	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Europe	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Belgium	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Switzerland/ 
Liechtenstein	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Germany	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Denmark	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Spain	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Finland	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	France	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	United Kingdom	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Italy	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Sweden	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Netherlands	 	3748920	 	 	1525458	 	 	 	1525458	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Japan	 	2004-524531	 	 	2006-503268	 	 	 	4560403	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	Singapore	 	200500360-3	 	 	109345	 	 	 	109345	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	United States	 	11/444,660	 	 	2007-0003008	 	 	 	7,519,145	 	 	 	Patented	 
	Icagen, Inc.	 	FLOW METHOD AND APPARATUS FOR SCREENING CHEMICALS USING MICRO X-RAY FLUORESCENCE	 	United States	 	12/396,592	 	 	2009-0175410	 	 	 	7,929,662	 	 	 	Patented	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	Europe	 	4755687.3	 	 	1644095	 	 	 	1644095	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	Switzerland/ 
Liechtenstein	 	4755687.3	 	 	1644095	 	 	 	1644095	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	Germany	 	4755687.3	 	 	1644095	 	 	 	1644095	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	France	 	4755687.3	 	 	1644095	 	 	 	1644095	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	United Kingdom	 	4755687.3	 	 	1644095	 	 	 	1644095	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	Ireland	 	4755687.3	 	 	1644095	 	 	 	1644095	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	Netherlands	 	4755687.3	 	 	1644095	 	 	 	1644095	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	Japan	 	2006-520181	 	 	2007527524	 	 	 	4782676	 	 	 	Patented	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	Singapore	 	2005085584	 	 	 	 	 	 	118682	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	United States	 	10/621,825	 	 	2005-0011818	 	 	 	6,858,148	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR DETECTING CHEMICAL BINDING	 	United States	 	10/986,519	 	 	2005-0095636 	 	 	 	7,241,381	 	 	 	Patented	 
	Icagen, Inc.	 	DRUG DEVELOPMENT AND MANUFACTURING	 	United States	 	10/880,388	 	 	2004-0235059 	 	 	 	9,157,875	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY FLUORESCENCE ANALYSIS METHOD	 	Europe	 	7874491.9	 	 	2084519	 	 	 	2084519	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY FLUORESCENCE ANALYSIS METHOD	 	Switzerland/ 
Liechtenstein	 	07 874 491.9	 	 	2084519	 	 	 	2084519	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY FLUORESCENCE ANALYSIS METHOD	 	Germany	 	60 2007 024 468.4	 	 	2084519	 	 	 	608007024468.4	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY FLUORESCENCE ANALYSIS METHOD	 	Denmark	 	07 874 491.9	 	 	2084519	 	 	 	2084519	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY FLUORESCENCE ANALYSIS METHOD	 	France	 	07 874 491.9	 	 	2084519	 	 	 	2084519	 	 	 	Patented	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	X-RAY FLUORESCENCE ANALYSIS METHOD	 	United Kingdom	 	7874491.9	 	 	2084519	 	 	 	2084519	 	 	 	Patented	 
	Icagen, Inc.	 	ADVANCED DRUG DEVELOPMENT AND MANUFACTURING	 	Hong Kong (via EP -005EPDV)	 	13104259.3	 	 	1177280	 	 	 	1177280	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY FLUORESCENCE ANALYSIS METHOD	 	Ireland	 	7874491.9	 	 	1177280	 	 	 	2084519	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY FLUORESCENCE ANALYSIS METHOD	 	Italy	 	7874491.9	 	 	1177280	 	 	 	2084519	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY FLUORESCENCE ANALYSIS METHOD	 	Netherlands	 	7874491.9	 	 	1177280	 	 	 	2084519	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY FLUORESCENCE ANALYSIS METHOD	 	Sweden	 	7874491.9	 	 	1177280	 	 	 	2084519	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY MICROSCOPE	 	Europe	 	12164870.3	 	 	2511844	 	 	 	2511844	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY MICROSCOPE	 	Switzerland and Lichtenstein	 	12164870.3	 	 	2511844	 	 	 	2511844	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY MICROSCOPE	 	Germany	 	12164870.3	 	 	2511844	 	 	 	602007042616.2	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY MICROSCOPE	 	France	 	12164870.3	 	 	2511844	 	 	 	2511844	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY MICROSCOPE	 	United Kingdom	 	12164870.3	 	 	2511844	 	 	 	2511844	 	 	 	Patented	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	ADVANCED DRUG DEVELOPMENT AND MANUFACTURING	 	Hong Kong (via EP -005EPDV)	 	2013104259.3	 	 	1177280	 	 	 	1177280	 	 	 	Patented	 
	Icagen, Inc.	 	X-RAY MICROSCOPE	 	Ireland	 	12164870.3	 	 	2511844	 	 	 	2511844	 	 	 	Patented	 
	Icagen, Inc.	 	ADVANCED DRUG DEVELOPMENT AND MANUFACTURING	 	Japan	 	2009-532446	 	 	2010509566	 	 	 	5143841	 	 	 	Patented	 
	Icagen, Inc.	 	ADVANCED DRUG DEVELOPMENT AND MANUFACTURING	 	Japan	 	2014-123249	 	 	2014-123249	 	 	 	5913441	 	 	 	Patented	 
	Icagen, Inc.	 	ADVANCED DRUG DEVELOPMENT AND MANUFACTURING	 	United States	 	14/693,094	 	 	2015-0309021	 	 	 	N/A	 	 	 	Pending	 
	Icagen, Inc.	 	ADVANCED DRUG DEVELOPMENT AND MANUFACTURING	 	United States	 	15/876,931	 	 	N/A	 	 	 	N/A	 	 	 	Pending	 
	Icagen, Inc.	 	WELL PLATE	 	Europe	 	8798006.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Belgium	 	8798007.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Switzerland/ 
Liechtenstein	 	8798008.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Germany	 	8798009.6	 	 	2183644	 	 	 	602008044640.9	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Denmark	 	8798010.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Spain	 	8798011.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Finland	 	8798012.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	France	 	8798013.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	WELL PLATE	 	United Kingdom	 	8798014.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Ireland	 	8798015.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Italy	 	8798016.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Netherlands	 	8798017.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Norway	 	8798018.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Sweden	 	8798019.6	 	 	2183644	 	 	 	2183644	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Japan	 	2010-521206	 	 	2010537171	 	 	 	5628035	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Japan	 	2013-117600	 	 	2013224946	 	 	 	5755682	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	Japan	 	2014-202871	 	 	2015004692	 	 	 	6076308	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	United States	 	12/192,762	 	 	2009-0046832 	 	 	 	8,238,515	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	United States	 	13/567,613	 	 	2013-0034205	 	 	 	8,873,707	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	United States	 	14/508,322	 	 	2015-0023467	 	 	 	9,476,846	 	 	 	Patented	 
	Icagen, Inc.	 	WELL PLATE	 	United States	 	15/273,767	 	 	2017-0010228	 	 	 	N/A	 	 	 	Pending	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING PROTEIN POST-TRANSLATIONAL MODIFICATION	 	Japan	 	2010-5272	 	 	2010539944	 	 	 	5743135	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING PROTEIN POST-TRANSLATIONAL MODIFICATION	 	Japan	 	2014-221166	 	 	2015033386	 	 	 	N/A	 	 	 	Pending	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING PROTEIN POST-TRANSLATIONAL MODIFICATION	 	United States	 	15/052,914	 	 	2016-0201111 	 	 	 	9976172	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING PROTEIN POST-TRANSLATIONAL MODIFICATION	 	United States	 	15/961,480	 	 	N/A	 	 	 	N/A	 	 	 	Pending	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS	 	China	 	200980125952.3	 	 	102083365	 	 	 	ZL 200980125952.3	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS	 	China	 	201310298029.8	 	 	103411988	 	 	 	2077368	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS	 	China	 	201510083796.6	 	 	N/A	 	 	 	N/A	 	 	 	Pending	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS	 	Europe	 	09774467.6	 	 	2306897	 	 	 	2306897	 	 	 	Patented	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS	 	Switzerland/ Liechtenstein	 	09774467.6	 	 	2306897	 	 	 	2306897	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS	 	Germany	 	09774467.6	 	 	2306897	 	 	 	2306897	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS	 	France	 	09774467.6	 	 	2306897	 	 	 	2306897	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS	 	United Kingdom	 	09774467.6	 	 	2306897	 	 	 	2306897	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS	 	Hong Kong	 	11112984.0	 	 	1158478	 	 	 	1158478	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD AND APPARATUS FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS USING X-RAY FLUORESCENCE	 	United States	 	12/496,532	 	 	2010-0003697	 	 	 	8,431,357	 	 	 	Patented	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	METHOD FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS USING X-RAY FLUORESCENCE USING X-RAY FLUORESCENCE	 	United States	 	13/871,697	 	 	2013-0236887 	 	 	 	9,063,154	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS USING X-RAY FLUORESCENCE	 	United States	 	14/669,923	 	 	2015-0198615	 	 	 	9,506,931	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD FOR MEASURING ANALYTE TRANSPORT ACROSS BARRIERS USING X-RAY FLUORESCENCE	 	United States	 	15/334,854	 	 	2017-0045530	 	 	 	N/A	 	 	 	Pending	 
	Icagen, Inc.	 	METHOD FOR ANALYSIS USING X-RAY FLUORESCENCE	 	United States	 	13/317,341	 	 	2012-0093286 	 	 	 	9,063,066	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD FOR ANALYSIS USING X-RAY FLUORESCENCE	 	United States	 	14/715,206	 	 	2015-0276631	 	 	 	9,435,756	 	 	 	Patented	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Owner	 	Title	 	Country	 	Application
No.	 	Pub. No.	 	 	Patent No.	 	 	Status	 
	Icagen, Inc.	 	METHOD FOR ANALYSIS USING X-RAY
    FLUORESCENCE	 	United States	 	14/715,218	 	 	2015-0276632	 	 	 	9,442,085	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD FOR ANALYSIS USING X-RAY FLUORESCENCE	 	United States	 	14/715,233	 	 	2015-0260664	 	 	 	9,335,284	 	 	 	Patented	 
	Icagen, Inc.	 	METHOD FOR ANALYSIS USING X-RAY FLUORESCENCE	 	United States	 	15/227,292	 	 	2016-0341678	 	 	 	N/A	 	 	 	Pending	 
	Icagen, Inc.	 	METHODS AND APPARATUS FOR MEASURING METALS
    AND METALLOIDS	 	International	 	PCT/US17/28064	 	 	N/A	 	 	 	N/A	 	 	 	Pending	 
	Icagen, Inc.	 	METHODS OF DETECTION USING X-RAY FLUORESCENCE	 	United States	 	62/558,528	 	 	N/A	 	 	 	N/A	 	 	 	Pending	 

 

Trademarks

 

	Owner	 	Mark	 	 	Country	 	 	Application No.	 	 	Registration No.	 	 	Status	 
	Icagen, Inc.	 	 	ICAGEN	 	 	 	USA	 	 	 	87008899	 	 	 	5243971	 	 	 	Live	 
	Icagen, Inc.	 	 	MXRF	 	 	 	USA	 	 	 	85291101	 	 	 	4390286	 	 	 	Live	 
	Icagen, Inc.	 	 	XRPRO	 	 	 	USA	 	 	 	77377389	 	 	 	3507712	 	 	 	Live	 

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.05(b)(ix) and (xiv)

 

Research
Development and Commercialization Agreement made May 1, 2018 by and between Icagen, Inc. and Cystic Fibrosis Foundation and amendment
No. 1 thereto

 

Research
Collaboration and License Agreement made May 1, 2018 between Sanofi and Icagen, Inc.

 

Asset
Purchase Agreement and Collaboration Agreement dated as of June 26, 2015 between XRpro Sciences, Inc. (now known as Icagen, Inc.)
and Icagen, Inc. (a subsidiary of Pfizer, Inc.)

 

Master
Service Agreement dated as of June 26, 2015 between XRPro Sciences, Inc. (now known as Icagen, Inc.) and Icagen, Inc. (a subsidiary
of Pfizer, Inc.)

 

First
and Second Amendment to Asset Purchase and Collaboration Agreement between Icagen, Inc. (f/k/a XRpro Sciences, Inc. and Pfizer
Research (NC, Inc. (f/k/a Icagen, Inc.) dated July 15, 2016 and May 31, 2017, respectively

 

***

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

SCHEDULE
7.05(c)

 

Material
IP

 

 None

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.06(a)

 

Certain
Litigation

 

None.

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.06(c)

 

Labor
Matters

 

 None

 

 ***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.08

 

Taxes

 

None

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.12(a)

 

Equity
Holders

 

Attached
is a list of each holder of shares of common stock, preferred stock, warrants and options and the numbers of securities held by
each holder.

 

	ICAGEN INC	 	 	 
	COMMON SHAREHOLDERS	 	 	 
	 	 	 	 
	NAME	 	NUMBER OF SHARES	 
	 	 	 	 
	BENJAMIN WARNER	 	 	1443250	 
	INTER-MARKETING GROUP USA INC	 	 	8750	 
	STEWART MURRAY	 	 	3312	 
	DAVID STEINHARDT & TOBI	 	 	21432	 
	JOSEPH AMATO - REVOCABLE TRUST	 	 	56145	 
	MARK LITWIN TRUST	 	 	37430	 
	MICHAEL TAGLICH	 	 	21429	 
	PHILIP & BERNADETTE KUNSBERG	 	 	8445	 
	ROBERT F TAGLICH	 	 	21429	 
	2030 INVESTORS LLC/401 K PLAN	 	 	55485	 
	BENJAMIN WARNER AND ELLEN MCBEE	 	 	54135	 
	C JAMES JENSEN	 	 	80673	 
	CHAN KEI BIU	 	 	56480	 
	CIRRUS ADVISORS INC	 	 	13125	 
	DOUGLAS JENSEN	 	 	19561	 
	EIGHT FAMILY TRUST	 	 	29727	 
	JOHN HSIEH	 	 	19821	 
	JOSEPH W & PATRICIA G ABRAMS	 	 	316372	 
	MATTHEW ABRAMS	 	 	56442	 
	PRATIMA BHARTI	 	 	318	 
	ROBERT S COLMAN	 	 	18956	 
	S/L TRILLING TRUST	 	 	37939	 
	SARAH ABRAMS	 	 	31442	 
	SAUNDERS AND DIANA KOHN	 	 	74967	 
	SIN FA WANG AND MEI WANG	 	 	18972	 
	SUSAN GERARD	 	 	13125	 
	THE BIBICOFF FAMILY TRUST DTD 5/16/00	 	 	30000	 
	JEFFREY L SADAR	 	 	6700	 
	SAMUEL E LEONARD TRUST UAD 2-5-90	 	 	4000	 
	RAYMOND M BEEBE & JOAN P BEEBE JT TEN	 	 	19998	 
	MICHAEL DUNHAM	 	 	14356	 
	HOWARD A KALKA	 	 	21428	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	PENSION INC TRUSTEE FBO THUEMLING	 	 	4000	 
	SHADOW CAPITAL LLC	 	 	56826	 
	STERLING FAMILY INVESTMENT LLC	 	 	19142	 
	THE SDM IRREVOCABLE TRUST FBO ANDREW	 	 	14356	 
	THE SDM IRREVOCABLE TRUST FBO LAUREN	 	 	14356	 
	JOHN R BERTSCH TRUST DTD 12/4/2004	 	 	37808	 
	PAUL SEID	 	 	28412	 
	MIKE TAGLICH POA TAG/KENT PARTNERSHIP	 	 	14286	 
	VINCENT M PALMIERI	 	 	43686	 
	DOUGLAS E HAILEY	 	 	30000	 
	R2MJ LLC	 	 	15000	 
	ROBERT SCHROEDER	 	 	7598	 
	AIC HOLDINGS LLC	 	 	43783	 
	CHARLES R JACKSON AND JANET B	 	 	1500	 
	DANIEL DAVID TOMPKINS SEPARATE	 	 	250	 
	DAVID CLARK	 	 	4375	 
	DON AND PATTI MALTASE	 	 	500	 
	DONALD WINTON	 	 	1000	 
	DR MORGAN WRIGHT	 	 	3500	 
	EDWARD BERNSTEIN	 	 	250	 
	EDWARD ROFFMANN TRUSTEE OF THE EDWARD	 	 	10000	 
	ELIZABETH SJURSEN	 	 	500	 
	EMILIA SOLOMON	 	 	915	 
	ERIK STOCKER	 	 	500	 
	FIRST SOUTH AFRICA MANAGEMENT	 	 	50000	 
	FRANK (JEREMIEL) ZIMMERMAN	 	 	52000	 
	GEORGE MAINAS	 	 	578	 
	GREGG RZEPCZYNSKI	 	 	1230	 
	HARRY FOX	 	 	1000	 
	JACK WARNER	 	 	5000	 
	JACOB BENJAMIN	 	 	1000	 
	JEFF J JENSEN	 	 	500	 
	JEFF NEUSTADT	 	 	1500	 
	JEROME C KNOLL	 	 	500	 
	JILL JENSEN	 	 	500	 
	JILL MORGAN	 	 	500	 
	JOHN P MORBECK	 	 	750	 
	JULIE JENSEN KALMUS	 	 	500	 
	KAMERON SCHROEDER	 	 	1000	 
	LISA CLARK	 	 	500	 
	LOVITT & HANNAN INC SALARY DEFERRAL	 	 	107	 
	MARK GEIST	 	 	1500	 
	MICHAEL T LYON PROFIT SHARING PLAN	 	 	12858	 
	NATHAN ZAHLER	 	 	1209	 
	PHILLIP SWAN	 	 	750	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	PIONEER VENTURE PARTNERS LLC	 	 	1250	 
	PORTER PARTNERS	 	 	5000	 
	RICHARD M NOFFSINGER	 	 	500	 
	RICHARD SCOTT LANE	 	 	36786	 
	ROBERT M MAYES AND LAURA L MAYES	 	 	1500	 
	ROBERT S COLMAN TRUST UDT 3/13/85	 	 	1500	 
	RONALD WULSOHN	 	 	1000	 
	SADDINGTON FAMILY TRUST	 	 	500	 
	SANFORD E SALZBERG	 	 	500	 
	STRATEGIC IR	 	 	500	 
	SUSAN GERARD IRA	 	 	12857	 
	THRG LLC	 	 	4375	 
	TOM HANNAN	 	 	500	 
	W FOUR LLC MR ROBERT WHITSITT	 	 	1250	 
	WAYNE A AND L TINA LEVENFELD 1992	 	 	500	 
	WILLIAM CORBETT	 	 	15000	 
	JONATHAN ROTHSCHILD	 	 	3500	 
	ROBERT D VANROIJEN JR TRUST UA DTD	 	 	30000	 
	PATIENCE PARTNERS LLC	 	 	8000	 
	HARRISON H AUGUR PROTOTYP	 	 	6000	 
	T MINA SUPPLY INC	 	 	23070	 
	KEVIN CONNROY	 	 	1500	 
	ROBERT W CORBY KENNETH WIECK POA	 	 	14286	 
	SCOT HOLDING INC	 	 	5714	 
	THE ROBERT W MAIN TRUST DTD 9/7/05	 	 	2858	 
	C MARK CASEY	 	 	2286	 
	ROBERT KOSKI	 	 	7142	 
	PETER FITZPATRICK	 	 	1640	 
	DONALD V MOLINE	 	 	2858	 
	FRANK GIMENEZ & PHILOMENA GIMENEZ	 	 	3000	 
	STEVEN MUCCIOLO	 	 	10000	 
	DR FRANCIS B OLSEN & ANGELA F OLSEN	 	 	10000	 
	GARY A HAFNER & LEEANN HAFNER JT TEN	 	 	2860	 
	STEPHEN M KOPPEKIN	 	 	4000	 
	KENNETH J FEROLDI & NANCY J FEROLDI	 	 	10000	 
	WILLIAM M STOKES & REBECCA A STOKES	 	 	1000	 
	MICHAEL A RUTLEDGE & TANYA S RUTLEDGE	 	 	8000	 
	JAMES E PUERNER	 	 	4000	 
	STEVEN BOTWINICK	 	 	8000	 
	ALLISON BIBICOFF	 	 	8000	 
	THE HILLARY BIBICOFF REVOCABLE TRUST	 	 	8000	 
	BIBICOFF MACINNIS INC	 	 	3142	 
	JOSEPH DEBELLIS	 	 	30000	 
	JACK DIMAIO & KATHRYN DIMAIO	 	 	71428	 
	ROBERT L BANZER	 	 	2000	 
	MITCHELL SPEARMAN	 	 	2856	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	DAVID A RANDOM	 	 	15712	 
	ROGER W & JOYCE M LUNSTRA LIVING TR	 	 	15712	 
	JEFFREY G HIPP & MARY ANN HIPP JTWROS	 	 	9300	 
	THE CAROLYN L FOUTCH LIVING TRUST	 	 	9286	 
	DAVID F RIOS & MARGARET J RIOS 1999	 	 	9286	 
	WILLIAM KYLE NEELY	 	 	9286	 
	RACHEL T BARONI TRUST UAD 12/31/94	 	 	8570	 
	NORPER INVESTMENTS	 	 	7658	 
	NUTIE DOWDLE	 	 	7658	 
	KYLE G BUCHAKJIAN	 	 	5998	 
	WULF PAULICK & RENATE PAULICK JTWROS	 	 	4000	 
	LUCILLE SOLOMON	 	 	4000	 
	LARRY S KAPLAN & MARLA B KAPLAN JTWROS	 	 	4000	 
	ROBERT P GIESEN	 	 	3000	 
	RICHARD BUCHAKJIAN	 	 	2858	 
	MARK BOURQUE	 	 	2858	 
	VINCENT R MILAZZO	 	 	2856	 
	DR THOMAS HEIRIGS & SHERYL HEIRIGS	 	 	8570	 
	ROSE MARY HEIRIGS THOMAS HEIRIGS POA	 	 	8570	 
	DAVID BALISTRERI	 	 	8570	 
	ERIC SEID	 	 	3000	 
	PETER WHITE	 	 	2000	 
	RANDALL S KNOX	 	 	13062	 
	MATTHEW G KIERNAN & CHERYL A KIERNAN	 	 	7140	 
	MARK VAUGHAN & ANDREA VAUGHAN JT TEN	 	 	5200	 
	MICHAEL P HAGERTY	 	 	10002	 
	JOHN W CROW	 	 	10002	 
	JOHN T GLANCY & LISA GLANCY JTWROS	 	 	1430	 
	JUDITH GREENBERG	 	 	2000	 
	MARY MARGUERITE SCHNURER FAMILY TRUST	 	 	3000	 
	THOMAS FITZPATRICK &	 	 	2000	 
	FRANK R JAZZO	 	 	4998	 
	THE TEMKIN FAMILY LEGACY TRUST NO 2	 	 	3000	 
	ELAINE DINES REVOCABLE TRUST	 	 	5742	 
	RAVICH REVOCABLE TRUST	 	 	4690	 
	SALLY RAVICH	 	 	3000	 
	PETER MANGIAMELI	 	 	5742	 
	MONICA BERTSCH	 	 	2858	 
	LAWRENCE KANE	 	 	14286	 
	ROBERT MOUSSA	 	 	4200	 
	HENRY JACKSON WARDEN	 	 	4756	 
	TOM MCFALL	 	 	28570	 
	APPLEBAUM FAMILY LTD PARTNERS	 	 	6700	 
	DAVID L ALLEN	 	 	15312	 
	RICHARD DUKE	 	 	9380	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	ALDO KOKOT & MARY KOKOT JTWROS	 	 	4000	 
	RONALD JOHNSON	 	 	9570	 
	ANGUS BRUCE & LAURALEE BRUCE JTWROS	 	 	9570	 
	KEITH BECKER	 	 	9570	 
	PAMELA M WALSH & BRIAN P WALSH JT TEN	 	 	10000	 
	WILLIAM P KAISER	 	 	10000	 
	ELIZABETH M CHAMBERLAIN	 	 	5742	 
	VITO S PORTERA REVOCABLE LIVING TRUST	 	 	4784	 
	SANDRA P NITZ	 	 	2860	 
	JOSEPH VOSILLA	 	 	5360	 
	NORMAN & SALLY RAVICH FAMILY TRUST	 	 	3684	 
	SUSAN THORSTENN & MAGNUS THORSTENN	 	 	19140	 
	BARKTONES LLC	 	 	19140	 
	ROBERT W ALLEN JR	 	 	19140	 
	MARK RAVICH	 	 	20100	 
	ILYNE SANDAS	 	 	3000	 
	RONALD A BERO	 	 	15312	 
	REVOC LIVING TRST OF FRANCES DELUCA	 	 	19142	 
	DAZIA CAPITAL SPAIN S L	 	 	7144	 
	JOHN R WIENCEK	 	 	14356	 
	JUNGE REVOCABLE TRUST UAD 12/09/91	 	 	38284	 
	ALBERT C & BROOKE CROWLEY ESPOSITO	 	 	23928	 
	BFJK INVESTMENT PARTNERSHIP	 	 	10000	 
	JAMES & PATRICIA TADYCH REVOCABLE UAD	 	 	23928	 
	DONALD B MCCULLOCH TRUST UAD 3/16/77	 	 	3000	 
	IVANKA MARIE KOKOT	 	 	2858	 
	KEITH R SCHROEDER	 	 	8570	 
	IRA FBO GORDON C JOHNSON	 	 	1428	 
	IRA FBO DONALD C HOLLIDAY	 	 	10000	 
	IRA FBO TIMOTHY M FITZPATRICK	 	 	5714	 
	IRA FBO FRANCIS BISSAILLON	 	 	22800	 
	MICHAEL N TAGLICH KEOGH-ACCOUNT	 	 	285714	 
	MICHAEL TAGLICH CUST FOR	 	 	5714	 
	MICHAEL TAGLICH CUST FBO	 	 	5714	 
	MICHAEL TAGLICH CUST FBO	 	 	5714	 
	IRA FBO P KENNETH NITZ	 	 	2860	 
	NICHOLAS TAGLICH & JULIANA TAGLICH	 	 	8570	 
	ESTATE OF RICHARD CURTIS CLAYTON	 	 	18570	 
	IRA FBO ROBERT F TAGLICH	 	 	285714	 
	ROBERT M LORENZO & SANDRA J LORENZO	 	 	2846	 
	RUSSELL BERNIER	 	 	12000	 
	TYSON REVOCABLE TRUST	 	 	142856	 
	MARYANNE R PALMIERI &	 	 	14854	 
	DAVID KURNOV	 	 	3000	 
	RICHARD OH	 	 	7140	 
	HOWARD A HALPERN	 	 	2900	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	LINDA TAGLICH	 	 	2600	 
	GILDA GAERTNER	 	 	3000	 
	DENIS MCEVOY	 	 	5720	 
	WILLIAM M COOKE	 	 	5714	 
	GARY KURNOV	 	 	5714	 
	THE BAUM FAMILY TRUST UAD 02/01/07	 	 	6000	 
	MICHAEL KURNOV	 	 	2800	 
	LENORE MAHONEY	 	 	28570	 
	ROBERT G PAUL	 	 	9572	 
	MICHAEL FERRIGNO	 	 	1428	 
	MARK DEGENNARO	 	 	42856	 
	EDWARD ROFFMAN	 	 	19000	 
	JOHN LAURO & CHRISTINE LAURO JTWROS	 	 	1430	 
	DEBRA C MORGAN	 	 	400	 
	DOUGLAS FRIEDRICH TRUSTEE	 	 	7980	 
	NINA LISA BERTSCH	 	 	2870	 
	TINA MARIE DOMENICE	 	 	2534	 
	MATTHEW THOMAS TABLONE	 	 	2533	 
	PERSHING LLC	 	 	879600	 
	THE HOPE A TAGLICH FIRST PARTY	 	 	5714	 
	MARGARET ESPOSITO	 	 	9570	 
	ALBERT J ESPOSITO TUW FBO	 	 	9570	 
	THE DENIS FORTIN REVOCABLE TRUST UAD	 	 	28510	 
	RICHARD CUNNINGHAM	 	 	21428	 
	TIM TYSON	 	 	21428	 
	ROBERT J EDMONDSON 2017 TRUST	 	 	15312	 
	PERSHING LLC	 	 	99818	 
	PERSHING LLC	 	 	87088	 
	JOHN R WORTHINGTON MARITAL TRUST -	 	 	6700	 
	JOHN BERRY WORTHINGTON	 	 	3350	 
	CLAUDIA WORTHINGTON HESS	 	 	3350	 
	CHARLES BRAND & PEGGY ANN BRAND JT TEN	 	 	19140	 
	GST EXEMPT MARITAL TRUST	 	 	102	 
	ROBERT W ALLEN TRUST	 	 	34146	 
	BERIT M ALLEN RESIDUARY TRUST	 	 	5670	 
	ROBERT W ALLEN III RESIDUARY TRUST	 	 	5670	 
	JOSHUA M ALLEN RESIDUARY TRUST	 	 	5670	 
	ANDERS C ALLEN RESIDUARY TRUST	 	 	5670	 
	MARY T FELDHACKER &	 	 	8445	 
	 	 	 	 	 
	TOTAL	 	 	6,393,107	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	ICAGEN INC	 	 	 
	SERIES C PREFERRED SHAREHOLDERS	 	 	 
	 	 	 	 
	NAME	 	NUMBER OF SHARES	 
	 	 	 	 
	TYSON REVOCABLE TRUST	 	 	685,704	 
	 	 	 	 	 
	CLIVE KABATZNIK	 	 	28,571	 
	 	 	 	 	 
	 	 	 	714,275	 

 

	ICAGEN	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	OPTIONS OUTSTANDING	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	Option Holder	 	Grant Date	 	Expiry Date/ Expiry on emp termination	 	Term (in years)	 	 	Active options	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	2005 PLAN OPTIONS	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	2010	 	 	 	 	 	 	 	 	 	 
	Nathan Zahler	 	1/11/2010	 	1/10/2020	 	 	10	 	 	 	8,791	 
	David Barklow	 	7/29/2010	 	7/28/2020	 	 	10	 	 	 	5,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	2011	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Lyon	 	5/1/2011	 	4/30/2021	 	 	10	 	 	 	6,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	2012	 	 	 	 	 	 	 	 	 	 	 	 
	Edward Roffman	 	5/1/2012	 	4/30/2022	 	 	10	 	 	 	15,000	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	2013	 	 	 	 	 	 	 	 	 	 	 	 
	Aaron Crane	 	3/5/2013	 	3/4/2023	 	 	10	 	 	 	5,000	 
	Benjamin Warner	 	3/15/2013	 	3/14/2023	 	 	10	 	 	 	92,500	 
	Daniel Boutcher	 	3/15/2013	 	3/14/2023	 	 	10	 	 	 	92,500	 
	FSAM - Clive and Mark	 	3/15/2013	 	3/14/2023	 	 	10	 	 	 	75,000	 
	Joe Abrams	 	3/15/2013	 	3/14/2023	 	 	10	 	 	 	52,500	 
	Gary Altman	 	7/1/2013	 	6/30/2020	 	 	7	 	 	 	12,500	 
	Timothy C Tyson	 	10/1/2013	 	9/30/2020	 	 	7	 	 	 	10,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	2014	 	 	 	 	 	 	 	 	 	 	 	 
	Edward Roffman	 	4/1/2014	 	3/31/2021	 	 	7	 	 	 	10,000	 
	Vincent Palmieri	 	4/1/2014	 	3/31/2021	 	 	7	 	 	 	10,000	 
	Miichael Taglich	 	4/1/2014	 	3/31/2021	 	 	7	 	 	 	10,000	 
	Timothy Tyson	 	4/1/2014	 	3/31/2021	 	 	7	 	 	 	66,000	 
	Kanalis Consulting	 	4/10/2014	 	4/9/2019	 	 	5	 	 	 	10,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	2015	 	 	 	 	 	 	 	 	 	 	 	 
	Richie Cunningham	 	1/7/2015	 	1/6/2025	 	 	10	 	 	 	250,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	730,791	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	2015 PLANS OPTIONS	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	2016	 	 	 	 	 	 	 	 	 	 	 	 
	Douglas Krafte	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	100,000	 
	Edward Roffman	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	12,500	 
	Vincent Palmieri	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	12,500	 
	Miichael Taglich	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	12,500	 
	Timothy Tyson	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	12,500	 
	Clive Kabatznik	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	12,500	 
	Kurt Harris	 	5/19/2016	 	1/31/2019	 	 	10	 	 	 	12,986	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Kurt Harris	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	-	 
	Neil Castle	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	30,000	 
	Christopher Silvia	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	13,500	 
	Mark Chapman	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	12,000	 
	Aaron Gerlach	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	10,200	 
	Brett Antonio	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	9,800	 
	Karen Padilla	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	5,100	 
	Sonia Santos	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	5,100	 
	Shannon Zellmer	 	5/19/2016	 	5/18/2026	 	 	10	 	 	 	4,300	 
	Kenneth Wertman	 	7/15/2016	 	7/14/2026	 	 	10	 	 	 	80,000	 
	Paul August	 	7/15/2016	 	7/14/2026	 	 	10	 	 	 	50,000	 
	Anil Nair	 	7/15/2016	 	7/14/2026	 	 	10	 	 	 	50,000	 
	Marcel Patek	 	7/15/2016	 	7/14/2026	 	 	10	 	 	 	50,000	 
	Neil Castle	 	7/15/2016	 	7/14/2026	 	 	10	 	 	 	20,000	 
	Chris Mathes	 	8/22/2016	 	12/31/2018	 	 	10	 	 	 	16,668	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	2017	 	 	 	 	 	 	 	 	 	 	 	 
	Edward Roffman	 	3/15/2017	 	3/14/2027	 	 	10	 	 	 	10,000	 
	Vincent Palmieri	 	3/15/2017	 	3/14/2027	 	 	10	 	 	 	10,000	 
	Miichael Taglich	 	3/15/2017	 	3/14/2027	 	 	10	 	 	 	10,000	 
	Timothy Tyson	 	3/15/2017	 	3/14/2027	 	 	10	 	 	 	10,000	 
	Clive Kabatznik	 	3/15/2017	 	3/14/2027	 	 	10	 	 	 	10,000	 
	Richard Cunnigham	 	3/15/2017	 	3/14/2027	 	 	10	 	 	 	20,000	 
	To be allocated	 	3/15/2017	 	3/14/2027	 	 	10	 	 	 	50,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	652,154	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total	 	 	 	 	 	 	 	 	 	 	1,382,945	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	ICAGEN, INC	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	WARRANTS OUTSTANDING	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	$3.50 Warrants	 	$3.85 Warrants	 
	Name	 	TOTAL	 	 	Issue Date	 	Expiry Date	 	Warrants	 	 	Issue Date	 	 	Expiry Date	 	 	Warrants	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Bridge Note conversion Warrants	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Douglas E. Hailey	 	 	10,047	 	 	4/19/2013	 	4/19/2020	 	 	10,047	 	 	 	 	 	 	 		 	 	 	 	 
	Ira Rosenberg	 	 	5,032	 	 	4/19/2013	 	4/19/2020	 	 	5,032	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael N. Taglich	 	 	20,677	 	 	4/19/2013	 	4/19/2020	 	 	20,677	 	 	 	 	 	 	 	 	 	 	 	 	 
	R2MJ LLC	 	 	5,032	 	 	4/19/2013	 	4/19/2020	 	 	5,032	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert F. Taglich	 	 	20,677	 	 	4/19/2013	 	4/19/2020	 	 	20,677	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vincent M. Palmieri	 	 	10,339	 	 	4/19/2013	 	4/19/2020	 	 	10,339	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vincent M. Palmieri	 	 	5,030	 	 	4/19/2013	 	4/19/2020	 	 	5,030	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Series B Warrants	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert F. Taglich	 	 	10,000	 	 	4/23/2013	 	4/23/2020	 	 	10,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Andrew K Light	 	 	20,000	 	 	4/23/2013	 	4/23/2020	 	 	20,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ann B Oldfather	 	 	6,000	 	 	4/23/2013	 	4/23/2020	 	 	6,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Debruyn Holdings Inc	 	 	6,000	 	 	4/23/2013	 	4/23/2020	 	 	6,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Eliot D. Cohen And Bonnie S. Cohen Jtwros	 	 	4,000	 	 	4/23/2013	 	4/23/2020	 	 	4,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Harry And Elizabeth Friedman Trust Uad 09/09/05 Harry Friedman & Elizabeth Friedman Ttees	 	 	2,000	 	 	4/23/2013	 	4/23/2020	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Harvey Bibicoff And Jacqueline Bibicoff Trustees Of The Bibicoff Family Trust Dtd 5/16/00	 	 	5,000	 	 	4/23/2013	 	4/23/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Jeffrey L Sadar & Barbara A Sadar Jtwros	 	 	5,000	 	 	4/23/2013	 	4/23/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	John J Resich Jr Ttee John J Resich Jr Ret Trust	 	 	4,000	 	 	4/23/2013	 	4/23/2020	 	 	4,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Joseph Martha	 	 	2,000	 	 	4/23/2013	 	4/23/2020	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Kaplan Family Trust 2002 Kalman R. Kaplan Ttee	 	 	2,000	 	 	4/23/2013	 	4/23/2020	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael N Taglich Claudia Taglich Jtwros	 	 	10,000	 	 	4/23/2013	 	4/23/2020	 	 	10,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mike Taglich Poa Tag/Kent Partnership F/B/O Garlinghouse/M Taglich B Taglich	 	 	30,000	 	 	4/23/2013	 	4/23/2020	 	 	30,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Pension Inc Trustee Fbo Thuemling Industrial Products Inc Profit Sharing Plan	 	 	20,000	 	 	4/23/2013	 	4/23/2020	 	 	20,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Raymond M Beebe & Joan P Beebe Jt Ten	 	 	10,000	 	 	4/23/2013	 	4/23/2020	 	 	10,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Shadow Capital Llc	 	 	25,000	 	 	4/23/2013	 	4/23/2020	 	 	25,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Stephen C Radocchia	 	 	5,000	 	 	4/23/2013	 	4/23/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert L Debruyn Trust Uad 10/5/94 Robert L Debruyn & Tracey H Debruyn Ttee	 	 	27,000	 	 	4/23/2013	 	4/23/2020	 	 	27,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Tracey H Debruyn Trust Uad 10/5/94 Tracey H Debruyn & Robert L Debruyn Ttee	 	 	27,000	 	 	4/23/2013	 	4/23/2020	 	 	27,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Valdemar Skov	 	 	5,000	 	 	4/23/2013	 	4/23/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Valerie Seid	 	 	10,000	 	 	4/23/2013	 	4/23/2020	 	 	10,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Alvin R Bonnette Rev Trust U A Dtd 1/31/85 Alvin R Bonnette Ttee	 	 	4,000	 	 	5/3/2013	 	5/3/2020	 	 	4,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Carl A. Quimby Trust Uad 12/30/94 Carl A Quimby Ttee	 	 	3,000	 	 	5/3/2013	 	5/3/2020	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Dennis Fortin	 	 	25,000	 	 	5/3/2013	 	5/3/2020	 	 	25,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	George J White & Debra A White Jt Ten Wros	 	 	5,000	 	 	5/3/2013	 	5/3/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Howard A Kalka	 	 	10,000	 	 	5/3/2013	 	5/3/2020	 	 	10,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	John R Bertsch Trust Dtd 12/4/2004 John R Bertsch Trustee	 	 	30,000	 	 	5/3/2013	 	5/3/2020	 	 	30,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Joseph F Domenice	 	 	3,000	 	 	5/3/2013	 	5/3/2020	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kenneth Bodenstein Tr Kenneth Bodenstein Ttee Dtd 7/30/84	 	 	5,000	 	 	5/3/2013	 	5/3/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kenneth M Cleveland	 	 	3,000	 	 	5/3/2013	 	5/3/2020	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kenneth W Cleveland	 	 	5,000	 	 	5/3/2013	 	5/3/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Lavery Family Living Trust Dtd 08/01/2007 Thomas W Lavery And Joan G Lavery Co-Trustees	 	 	2,000	 	 	5/3/2013	 	5/3/2020	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Lawrence D Feldhacker	 	 	5,000	 	 	5/3/2013	 	5/3/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Lian Chang	 	 	2,000	 	 	5/3/2013	 	5/3/2020	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Merle F Stockley Jr	 	 	3,000	 	 	5/3/2013	 	5/3/2020	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Dunham	 	 	30,000	 	 	5/3/2013	 	5/3/2020	 	 	30,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael L Smith	 	 	3,000	 	 	5/3/2013	 	5/3/2020	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Nancy C Hubbard	 	 	10,000	 	 	5/3/2013	 	5/3/2020	 	 	10,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Paul R Winter	 	 	20,000	 	 	5/3/2013	 	5/3/2020	 	 	20,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Paul Seid	 	 	35,000	 	 	5/3/2013	 	5/3/2020	 	 	35,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Philip Kunsberg & Bernadette Kunsberg Jt Ten	 	 	5,000	 	 	5/3/2013	 	5/3/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Powell Family Limited Partners	 	 	3,000	 	 	5/3/2013	 	5/3/2020	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Richard A Kraemer Trust U A/D 12-23-96 Richard A Kraemer Ttee	 	 	5,000	 	 	5/3/2013	 	5/3/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert B Cashion	 	 	5,000	 	 	5/3/2013	 	5/3/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Brooks	 	 	5,000	 	 	5/3/2013	 	5/3/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Samuel E Leonard Trust Uad 2-5-90 Samuel E Leonard Ttee	 	 	2,000	 	 	5/3/2013	 	5/3/2020	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Sterling Family Investment LLC	 	 	30,000	 	 	5/3/2013	 	5/3/2020	 	 	30,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Tad Wilson	 	 	6,000	 	 	5/3/2013	 	5/3/2020	 	 	6,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Ladendorf Family Revocable Living Trust Uad 04/11/11 Mark C Ladendorf & Debra L Ladendorf Ttees	 	 	10,000	 	 	5/3/2013	 	5/3/2020	 	 	10,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	The SDM Irrevocable Trust FBO Andrew Seid Uad 11/05/04 Paul Seid Ttee	 	 	7,500	 	 	5/3/2013	 	5/3/2020	 	 	7,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	The SDM Irrevocable Trust FBO Lauren Seid Uad 11/05/04 Paul Seid Ttee	 	 	7,500	 	 	5/3/2013	 	5/3/2020	 	 	7,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Wafgal Limited	 	 	3,000	 	 	5/3/2013	 	5/3/2020	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	William N Kehl	 	 	5,000	 	 	5/3/2013	 	5/3/2020	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Arnold Ventures LP	 	 	20,000	 	 	5/10/2013	 	5/10/2020	 	 	20,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Schroeder	 	 	2,000	 	 	7/18/2013	 	7/18/2020	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Louis DiFruscio	 	 	3,000	 	 	7/18/2013	 	7/18/2020	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Stewart Murray	 	 	2,000	 	 	7/18/2013	 	7/18/2020	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2013 Fund Raise Placement Agent Warrants	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Douglas E. Hailey	 	 	16,411	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	16,411	 
	Michael N. Taglich	 	 	33,929	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	33,929	 
	Robert F. Taglich	 	 	33,928	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	33,928	 
	Vincent M. Palmieri	 	 	31,894	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	31,894	 
	Robert Schroeder	 	 	7,135	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	7,135	 
	Gary Kurnov	 	 	1,427	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	1,427	 
	William Cooke	 	 	1,427	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	1,427	 
	Richard Oh	 	 	8,000	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	8,000	 
	Leonard Schleicher	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	1,000	 
	Michael Brunone	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	2,500	 
	Russell Bernier	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	1,000	 
	Linda Taglich	 	 	500	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	500	 
	Robert M Lorenzo II	 	 	1,250	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	1,250	 
	Gilda Gaertner	 	 	500	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	500	 
	Denis McEvoy	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	1,000	 
	Howard Halpern	 	 	500	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	500	 
	John Nobile TOD Dtd 3/21/06	 	 	500	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	500	 
	Juan V Noble	 	 	500	 	 	 	 	 	 	 	 	 	 	 	6/30/2013	 	 	 	6/30/2020	 	 	 	500	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Common Stock Warrants - Private Placement 2014/2015 Raise	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Albert C Esposito And Brooke Crowley Esposito Jt Ten	 	 	5,982	 	 	12/31/2014	 	12/30/2019	 	 	5,982	 	 	 	 	 	 	 	 	 	 	 	 	 
	Albert Esposito & Margaret Esposito Jtwros	 	 	4,785	 	 	12/31/2014	 	12/30/2019	 	 	4,785	 	 	 	 	 	 	 	 	 	 	 	 	 
	Aldo Kokot And Mary Kokot Jtwros	 	 	1,000	 	 	12/31/2014	 	12/30/2019	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Allison Bibicoff	 	 	2,000	 	 	12/31/2014	 	12/30/2019	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Angus Bruce Lauralee Bruce Jt Wros	 	 	2,393	 	 	12/31/2014	 	12/30/2019	 	 	2,393	 	 	 	 	 	 	 	 	 	 	 	 	 
	Applebaum Family Ltd Partners Irving Applebaum General Ptnr	 	 	1,675	 	 	12/31/2014	 	12/30/2019	 	 	1,675	 	 	 	 	 	 	 	 	 	 	 	 	 
	Barktones Llc	 	 	4,785	 	 	12/31/2014	 	12/30/2019	 	 	4,785	 	 	 	 	 	 	 	 	 	 	 	 	 
	Bfjk Investment Partnership	 	 	2,500	 	 	12/31/2014	 	12/30/2019	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Bibicoff Macinnis Inc	 	 	786	 	 	12/31/2014	 	12/30/2019	 	 	786	 	 	 	 	 	 	 	 	 	 	 	 	 
	C Mark Casey	 	 	572	 	 	12/31/2014	 	12/30/2019	 	 	572	 	 	 	 	 	 	 	 	 	 	 	 	 
	Charles Brand	 	 	4,785	 	 	12/31/2014	 	12/30/2019	 	 	4,785	 	 	 	 	 	 	 	 	 	 	 	 	 
	David A Random	 	 	3,928	 	 	12/31/2014	 	12/30/2019	 	 	3,928	 	 	 	 	 	 	 	 	 	 	 	 	 
	David Balistreri	 	 	2,143	 	 	12/31/2014	 	12/30/2019	 	 	2,143	 	 	 	 	 	 	 	 	 	 	 	 	 
	David Frank Rios & Margaret Jo Rios 1999 Trust Dtd 6/22/99	 	 	2,322	 	 	12/31/2014	 	12/30/2019	 	 	2,322	 	 	 	 	 	 	 	 	 	 	 	 	 
	David L Allen	 	 	3,828	 	 	12/31/2014	 	12/30/2019	 	 	3,828	 	 	 	 	 	 	 	 	 	 	 	 	 
	Dazia Capital Spain S.L.	 	 	1,786	 	 	12/31/2014	 	12/30/2019	 	 	1,786	 	 	 	 	 	 	 	 	 	 	 	 	 
	Denis Fortin	 	 	7,128	 	 	12/31/2014	 	12/30/2019	 	 	7,128	 	 	 	 	 	 	 	 	 	 	 	 	 
	Donald V Moline	 	 	715	 	 	12/31/2014	 	12/30/2019	 	 	715	 	 	 	 	 	 	 	 	 	 	 	 	 
	Douglas Friedrich & Melanie Friedrich Jt/Wros	 	 	1,995	 	 	12/31/2014	 	12/30/2019	 	 	1,995	 	 	 	 	 	 	 	 	 	 	 	 	 
	Dr Francis B Olsen & Angela F Olsen	 	 	2,500	 	 	12/31/2014	 	12/30/2019	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Dr Thomas Heirigs & Sheryl Heirigs Jt/Wros	 	 	2,143	 	 	12/31/2014	 	12/30/2019	 	 	2,143	 	 	 	 	 	 	 	 	 	 	 	 	 
	Elaine Dines Revocable Trust	 	 	1,436	 	 	12/31/2014	 	12/30/2019	 	 	1,436	 	 	 	 	 	 	 	 	 	 	 	 	 
	Elizabeth M Chamberlain	 	 	1,436	 	 	12/31/2014	 	12/30/2019	 	 	1,436	 	 	 	 	 	 	 	 	 	 	 	 	 
	Eric Seid	 	 	750	 	 	12/31/2014	 	12/30/2019	 	 	750	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Frank Gimenez & Philomena Gimenez Jtwros	 	 	750	 	 	12/31/2014	 	12/30/2019	 	 	750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Frank R Jazzo	 	 	1,250	 	 	12/31/2014	 	12/30/2019	 	 	1,250	 	 	 	 	 	 	 	 	 	 	 	 	 
	Gary A. Hafner And Leeann Hafner Jt Ten	 	 	715	 	 	12/31/2014	 	12/30/2019	 	 	715	 	 	 	 	 	 	 	 	 	 	 	 	 
	Harrison H Augur Prototyp	 	 	1,500	 	 	12/31/2014	 	12/30/2019	 	 	1,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Harvey Bibicoff And Jacqueline Bibicoff Trustees Of The Bibicoff Family Trust Dtd 5/16/00	 	 	7,500	 	 	12/31/2014	 	12/30/2019	 	 	7,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Henry Jackson Warden	 	 	1,189	 	 	12/31/2014	 	12/30/2019	 	 	1,189	 	 	 	 	 	 	 	 	 	 	 	 	 
	Howard A Kalka	 	 	5,357	 	 	12/31/2014	 	12/30/2019	 	 	5,357	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ilyne Sandas	 	 	750	 	 	12/31/2014	 	12/30/2019	 	 	750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Jack Dimaio Kathryn Dimaio	 	 	17,857	 	 	12/31/2014	 	12/30/2019	 	 	17,857	 	 	 	 	 	 	 	 	 	 	 	 	 
	James E Puerner	 	 	1,000	 	 	12/31/2014	 	12/30/2019	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	James Tadych And Patricia Tadych Revocable Trust Uad 09/23/93 James L Tadych & Patricia A Tadych Ttees	 	 	5,982	 	 	12/31/2014	 	12/30/2019	 	 	5,982	 	 	 	 	 	 	 	 	 	 	 	 	 
	Jeffrey G Hipp & Mary Ann Hipp Jt/Wros	 	 	2,325	 	 	12/31/2014	 	12/30/2019	 	 	2,325	 	 	 	 	 	 	 	 	 	 	 	 	 
	Jeffrey L Sadar	 	 	1,675	 	 	12/31/2014	 	12/30/2019	 	 	1,675	 	 	 	 	 	 	 	 	 	 	 	 	 
	John R Bertsch Trust Dtd 12/4/2004 John R Bertsch Trustee	 	 	9,452	 	 	12/31/2014	 	12/30/2019	 	 	9,452	 	 	 	 	 	 	 	 	 	 	 	 	 
	John R Wiencek	 	 	3,589	 	 	12/31/2014	 	12/30/2019	 	 	3,589	 	 	 	 	 	 	 	 	 	 	 	 	 
	John R Worthington Tr John R Worthington Trust U A Dated 3-28-00	 	 	3,350	 	 	12/31/2014	 	12/30/2019	 	 	3,350	 	 	 	 	 	 	 	 	 	 	 	 	 
	John T Glancy & Lisa Glancy Jtwros	 	 	358	 	 	12/31/2014	 	12/30/2019	 	 	358	 	 	 	 	 	 	 	 	 	 	 	 	 
	John W Crow	 	 	2,501	 	 	12/31/2014	 	12/30/2019	 	 	2,501	 	 	 	 	 	 	 	 	 	 	 	 	 
	Jonathan Rothschild	 	 	875	 	 	12/31/2014	 	12/30/2019	 	 	875	 	 	 	 	 	 	 	 	 	 	 	 	 
	Joseph Debellis	 	 	7,500	 	 	12/31/2014	 	12/30/2019	 	 	7,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Joseph Vosilla	 	 	1,340	 	 	12/31/2014	 	12/30/2019	 	 	1,340	 	 	 	 	 	 	 	 	 	 	 	 	 
	Judith Greenberg	 	 	500	 	 	12/31/2014	 	12/30/2019	 	 	500	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Junge Revocable Trust Uad 12/09/91 John P Junge Ttee Amd 09/26/06	 	 	9,571	 	 	12/31/2014	 	12/30/2019	 	 	9,571	 	 	 	 	 	 	 	 	 	 	 	 	 
	Keith Becker	 	 	2,393	 	 	12/31/2014	 	12/30/2019	 	 	2,393	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kenneth J Feroldi Nancy J Feroldi Jtwros	 	 	2,500	 	 	12/31/2014	 	12/30/2019	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kettle Hill Patners Ii, Lp	 	 	7,857	 	 	12/31/2014	 	12/30/2019	 	 	7,857	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kettle Hill Patners Lp	 	 	18,929	 	 	12/31/2014	 	12/30/2019	 	 	18,929	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kevin Conroy	 	 	375	 	 	12/31/2014	 	12/30/2019	 	 	375	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kyle G Buchakjian	 	 	1,500	 	 	12/31/2014	 	12/30/2019	 	 	1,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Larry S Kaplan Marla B Kaplan Jt/Wros	 	 	1,000	 	 	12/31/2014	 	12/30/2019	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Lawrence Kane	 	 	3,572	 	 	12/31/2014	 	12/30/2019	 	 	3,572	 	 	 	 	 	 	 	 	 	 	 	 	 
	Lucille Solomon	 	 	1,000	 	 	12/31/2014	 	12/30/2019	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mark Bourque	 	 	715	 	 	12/31/2014	 	12/30/2019	 	 	715	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mark Ravich	 	 	5,025	 	 	12/31/2014	 	12/30/2019	 	 	5,025	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mark Vaughan Andrea Vaughan Jt Ten	 	 	1,300	 	 	12/31/2014	 	12/30/2019	 	 	1,300	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mary Marguerite Schnurer Family Trust Uad 12/08/05 Mary Marguerite Schnurer Ttee	 	 	750	 	 	12/31/2014	 	12/30/2019	 	 	750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Matthew G Kiernan Cheryl A Kiernan Jt Ten	 	 	1,785	 	 	12/31/2014	 	12/30/2019	 	 	1,785	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael A Rutledge Tanya S Rutledge Jtwros	 	 	2,000	 	 	12/31/2014	 	12/30/2019	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Dunham	 	 	3,589	 	 	12/31/2014	 	12/30/2019	 	 	3,589	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael P Hagerty	 	 	2,501	 	 	12/31/2014	 	12/30/2019	 	 	2,501	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mitchell Spearman	 	 	714	 	 	12/31/2014	 	12/30/2019	 	 	714	 	 	 	 	 	 	 	 	 	 	 	 	 
	Monica Bertsch	 	 	715	 	 	12/31/2014	 	12/30/2019	 	 	715	 	 	 	 	 	 	 	 	 	 	 	 	 
	Nina B Sando	 	 	718	 	 	12/31/2014	 	12/30/2019	 	 	718	 	 	 	 	 	 	 	 	 	 	 	 	 
	Norman And Sally Ravich Family Trust Uad 12/24/92 Mark H Ravich Ttee	 	 	921	 	 	12/31/2014	 	12/30/2019	 	 	921	 	 	 	 	 	 	 	 	 	 	 	 	 
	Norper Investments	 	 	1,915	 	 	12/31/2014	 	12/30/2019	 	 	1,915	 	 	 	 	 	 	 	 	 	 	 	 	 
	Nutie Dowdle	 	 	1,915	 	 	12/31/2014	 	12/30/2019	 	 	1,915	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Pamela M Walsh Brian P Walsh Jt Ten	 	 	2,500	 	 	12/31/2014	 	12/30/2019	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Patience Partners Llc	 	 	2,000	 	 	12/31/2014	 	12/30/2019	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Pension Inc Trustee Fbo Thuemling Industrial Products Inc Profit Sharing Plan	 	 	1,000	 	 	12/31/2014	 	12/30/2019	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Peter Fitzpatrick	 	 	410	 	 	12/31/2014	 	12/30/2019	 	 	410	 	 	 	 	 	 	 	 	 	 	 	 	 
	Peter Mangiameli	 	 	1,436	 	 	12/31/2014	 	12/30/2019	 	 	1,436	 	 	 	 	 	 	 	 	 	 	 	 	 
	Peter White	 	 	500	 	 	12/31/2014	 	12/30/2019	 	 	500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Rachel T Baroni Trust Uad 12/31/94 P J Baroni & R T Baroni Ttees Amd 08/11/09	 	 	2,143	 	 	12/31/2014	 	12/30/2019	 	 	2,143	 	 	 	 	 	 	 	 	 	 	 	 	 
	Randall S Knox	 	 	3,266	 	 	12/31/2014	 	12/30/2019	 	 	3,266	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ravich Revocable Trust	 	 	1,173	 	 	12/31/2014	 	12/30/2019	 	 	1,173	 	 	 	 	 	 	 	 	 	 	 	 	 
	Raymond M Beebe & Joan P Beebe Jt Ten	 	 	5,000	 	 	12/31/2014	 	12/30/2019	 	 	5,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Revocable Living Trust Of Frances Deluca Uad 10/09/01 Guerino Deluca Amd 08/08/07	 	 	4,786	 	 	12/31/2014	 	12/30/2019	 	 	4,786	 	 	 	 	 	 	 	 	 	 	 	 	 
	Richard Buchakjian	 	 	715	 	 	12/31/2014	 	12/30/2019	 	 	715	 	 	 	 	 	 	 	 	 	 	 	 	 
	Richard Duke	 	 	2,345	 	 	12/31/2014	 	12/30/2019	 	 	2,345	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert D Vanroijen Jr Trust U A Dtd 12-14-82 Robert D Vanroijen Ttee	 	 	7,500	 	 	12/31/2014	 	12/30/2019	 	 	7,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Edmondson	 	 	3,828	 	 	12/31/2014	 	12/30/2019	 	 	3,828	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Koski	 	 	1,786	 	 	12/31/2014	 	12/30/2019	 	 	1,786	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert L Banzer	 	 	500	 	 	12/31/2014	 	12/30/2019	 	 	500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Moussa	 	 	1,050	 	 	12/31/2014	 	12/30/2019	 	 	1,050	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert P Giesen	 	 	750	 	 	12/31/2014	 	12/30/2019	 	 	750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert W Allen Jr	 	 	4,785	 	 	12/31/2014	 	12/30/2019	 	 	4,785	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert W Corby Kenneth Wieck Poa	 	 	3,572	 	 	12/31/2014	 	12/30/2019	 	 	3,572	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert W Main Ttee Under The Robert W Main Trust Dtd 9/7/05	 	 	715	 	 	12/31/2014	 	12/30/2019	 	 	715	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Roger W. Lunstra And Joyce M. Lunstra Living Trust Dtd 6/15/07 Roger W. Lunstra And Joyce M Lunstra Co-Ttees	 	 	3,928	 	 	12/31/2014	 	12/30/2019	 	 	3,928	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ronald A Bero	 	 	3,828	 	 	12/31/2014	 	12/30/2019	 	 	3,828	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ronald Johnson	 	 	2,393	 	 	12/31/2014	 	12/30/2019	 	 	2,393	 	 	 	 	 	 	 	 	 	 	 	 	 
	Rose Mary Heirigs Thomas Heirigs Poa	 	 	2,143	 	 	12/31/2014	 	12/30/2019	 	 	2,143	 	 	 	 	 	 	 	 	 	 	 	 	 
	Sally Ravich	 	 	750	 	 	12/31/2014	 	12/30/2019	 	 	750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Samuel E Leonard Trust Uad 2-5-90 Samuel E Leonard Ttee	 	 	1,000	 	 	12/31/2014	 	12/30/2019	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Sandra P Nitz	 	 	715	 	 	12/31/2014	 	12/30/2019	 	 	715	 	 	 	 	 	 	 	 	 	 	 	 	 
	Scot Holding Inc	 	 	1,429	 	 	12/31/2014	 	12/30/2019	 	 	1,429	 	 	 	 	 	 	 	 	 	 	 	 	 
	Shadow Capital Llc	 	 	14,207	 	 	12/31/2014	 	12/30/2019	 	 	14,207	 	 	 	 	 	 	 	 	 	 	 	 	 
	Stephen M Koppekin	 	 	1,000	 	 	12/31/2014	 	12/30/2019	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Sterling Family Investment Llc	 	 	4,786	 	 	12/31/2014	 	12/30/2019	 	 	4,786	 	 	 	 	 	 	 	 	 	 	 	 	 
	Steven Botwinick	 	 	2,000	 	 	12/31/2014	 	12/30/2019	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Steven Mucciolo	 	 	2,500	 	 	12/31/2014	 	12/30/2019	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Susan M Allen Trust Uad 04/29/08 Susan Allen Ttee	 	 	14,232	 	 	12/31/2014	 	12/30/2019	 	 	14,232	 	 	 	 	 	 	 	 	 	 	 	 	 
	Susan Thorstenn & Magnus Thorstenn Ten Comm	 	 	4,785	 	 	12/31/2014	 	12/30/2019	 	 	4,785	 	 	 	 	 	 	 	 	 	 	 	 	 
	T. Mina Supply Inc	 	 	5,768	 	 	12/31/2014	 	12/30/2019	 	 	5,768	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Carolyn L. Foutch Living Trust Uad 05/17/13 Carolyn L Foutch Ttee	 	 	2,322	 	 	12/31/2014	 	12/30/2019	 	 	2,322	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Hillary Bibicoff Revocable Trust Dtd 4/19/07 Hillary Bibicoff Trustee	 	 	2,000	 	 	12/31/2014	 	12/30/2019	 	 	2,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Sdm Irrevocable Trust Fbo Andrew Seid Uad 11/05/04 Paul Seid Ttee	 	 	3,589	 	 	12/31/2014	 	12/30/2019	 	 	3,589	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Sdm Irrevocable Trust Fbo Lauren Seid Uad 11/05/04 Paul Seid Ttee	 	 	3,589	 	 	12/31/2014	 	12/30/2019	 	 	3,589	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Temkin Family Legacy Trust No. 2 Uad 12/01/10 Mark J Temkin Ttee	 	 	750	 	 	12/31/2014	 	12/30/2019	 	 	750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Thomas Fitzpatrick Barbara Fitzpatrick Jt Ten	 	 	500	 	 	12/31/2014	 	12/30/2019	 	 	500	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Tom Mcfall	 	 	7,143	 	 	12/31/2014	 	12/30/2019	 	 	7,143	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vincent R Milazzo	 	 	714	 	 	12/31/2014	 	12/30/2019	 	 	714	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vito S Portera Revocable Living Trust Uad 10/19/12 Vito S Portera Ttee	 	 	1,196	 	 	12/31/2014	 	12/30/2019	 	 	1,196	 	 	 	 	 	 	 	 	 	 	 	 	 
	William Kyle Neely	 	 	2,322	 	 	12/31/2014	 	12/30/2019	 	 	2,322	 	 	 	 	 	 	 	 	 	 	 	 	 
	William M Stokes Rebecca A Stokes Jt Ten	 	 	250	 	 	12/31/2014	 	12/30/2019	 	 	250	 	 	 	 	 	 	 	 	 	 	 	 	 
	William P Kaiser	 	 	2,500	 	 	12/31/2014	 	12/30/2019	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Wulf Paulick & Renate Paulick Jt/Wros	 	 	1,000	 	 	12/31/2014	 	12/30/2019	 	 	1,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	-	 	 	 	 	 	 	 	-	 	 	 	 	 	 	 	 	 	 	 	 	 
	Paul Seid	 	 	7,103	 	 	1/7/2015	 	1/6/2020	 	 	7,103	 	 	 	 	 	 	 	 	 	 	 	 	 
	Donald B. Mcculloch Trust U/A/Dtd 3/16/77	 	 	750	 	 	1/7/2015	 	1/6/2020	 	 	750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ivanka Marie Kokot	 	 	715	 	 	1/7/2015	 	1/6/2020	 	 	715	 	 	 	 	 	 	 	 	 	 	 	 	 
	Keith R Schroeder	 	 	2,143	 	 	1/7/2015	 	1/6/2020	 	 	2,143	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ira Fbo Gordon C Johnson Pershing Llc As Custodian Rollover Account	 	 	357	 	 	1/7/2015	 	1/6/2020	 	 	357	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ira Fbo Donald C Holliday Pershing Llc As Custodian Rollover Account	 	 	2,500	 	 	1/7/2015	 	1/6/2020	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ira Fbo Timothy M Fitzpatrick Pershing Llc As Custodian Rollover Account	 	 	1,429	 	 	1/7/2015	 	1/6/2020	 	 	1,429	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ira Fbo Francis Bissaillon Pershing Llc As Custodian	 	 	5,700	 	 	1/7/2015	 	1/6/2020	 	 	5,700	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael N. Taglich Keogh-Account	 	 	71,429	 	 	1/7/2015	 	1/6/2020	 	 	71,429	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mike Taglich Poa Tag/Kent Partnership F/B/O Garlinghouse/M Taglich B Taglich	 	 	3,572	 	 	1/7/2015	 	1/6/2020	 	 	3,572	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Taglich C/F Hope Taglich Ugma	 	 	1,429	 	 	1/7/2015	 	1/6/2020	 	 	1,429	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Taglich Cust For Lucy Taglich Utma Ny	 	 	1,429	 	 	1/7/2015	 	1/6/2020	 	 	1,429	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Taglich Custodian Fbo Amanda Taglich Utma Ny Until Age 21	 	 	1,429	 	 	1/7/2015	 	1/6/2020	 	 	1,429	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Taglich Custodian Fbo Stella Taglich Utma Ny Until Age 21	 	 	1,429	 	 	1/7/2015	 	1/6/2020	 	 	1,429	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Ira Fbo P. Kenneth Nitz Pershing Llc As Custodian	 	 	715	 	 	1/7/2015	 	1/6/2020	 	 	715	 	 	 	 	 	 	 	 	 	 	 	 	 
	Nicholas Taglich & Juliana Taglich Jt/Wros	 	 	2,143	 	 	1/7/2015	 	1/6/2020	 	 	2,143	 	 	 	 	 	 	 	 	 	 	 	 	 
	Estate Of Richard Curtis Clayton Deborah Ann Clayton Executor	 	 	4,643	 	 	1/7/2015	 	1/6/2020	 	 	4,643	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ira Fbo Robert F Taglich Pershing Llc As Custodian Rollover Account	 	 	71,429	 	 	1/7/2015	 	1/6/2020	 	 	71,429	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert M Lorenzo & Sandra J Lorenzo Jt Wros	 	 	712	 	 	1/7/2015	 	1/6/2020	 	 	712	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Brunone	 	 	358	 	 	1/7/2015	 	1/6/2020	 	 	358	 	 	 	 	 	 	 	 	 	 	 	 	 
	Russell Bernier	 	 	3,000	 	 	1/7/2015	 	1/6/2020	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Tyson Revocable Trust	 	 	35,714	 	 	1/7/2015	 	1/6/2020	 	 	35,714	 	 	 	 	 	 	 	 	 	 	 	 	 
	Maryanne R Palmieri Joseph V Palmieri Jt/Wros	 	 	3,714	 	 	1/7/2015	 	1/6/2020	 	 	3,714	 	 	 	 	 	 	 	 	 	 	 	 	 
	David Kurnov	 	 	750	 	 	1/7/2015	 	1/6/2020	 	 	750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vincent M Palmieri	 	 	5,565	 	 	1/7/2015	 	1/6/2020	 	 	5,565	 	 	 	 	 	 	 	 	 	 	 	 	 
	Richard Oh	 	 	1,785	 	 	1/7/2015	 	1/6/2020	 	 	1,785	 	 	 	 	 	 	 	 	 	 	 	 	 
	Howard A Halpern	 	 	725	 	 	1/7/2015	 	1/6/2020	 	 	725	 	 	 	 	 	 	 	 	 	 	 	 	 
	Linda Taglich	 	 	650	 	 	1/7/2015	 	1/6/2020	 	 	650	 	 	 	 	 	 	 	 	 	 	 	 	 
	Gilda Gaertner Tod Dated 05/10/2013	 	 	750	 	 	1/7/2015	 	1/6/2020	 	 	750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Denis Mcevoy Tod Dtd 03/19/2013	 	 	1,430	 	 	1/7/2015	 	1/6/2020	 	 	1,430	 	 	 	 	 	 	 	 	 	 	 	 	 
	William M Cooke	 	 	1,429	 	 	1/7/2015	 	1/6/2020	 	 	1,429	 	 	 	 	 	 	 	 	 	 	 	 	 
	Gary Kurnov	 	 	1,429	 	 	1/7/2015	 	1/6/2020	 	 	1,429	 	 	 	 	 	 	 	 	 	 	 	 	 
	Douglas E Hailey	 	 	7,500	 	 	1/7/2015	 	1/6/2020	 	 	7,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	R2Mj Llc	 	 	3,750	 	 	1/7/2015	 	1/6/2020	 	 	3,750	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Baum Family Trust Uad 02/01/07 Patricia Donoghue Ttee	 	 	1,500	 	 	1/7/2015	 	1/6/2020	 	 	1,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Schroeder	 	 	1,072	 	 	1/7/2015	 	1/6/2020	 	 	1,072	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Kurnov	 	 	700	 	 	1/7/2015	 	1/6/2020	 	 	700	 	 	 	 	 	 	 	 	 	 	 	 	 
	Lenore Mahoney	 	 	7,143	 	 	1/7/2015	 	1/6/2020	 	 	7,143	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert G Paul	 	 	2,393	 	 	1/7/2015	 	1/6/2020	 	 	2,393	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Ferrigno	 	 	357	 	 	1/7/2015	 	1/6/2020	 	 	357	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mark Degennaro	 	 	10,714	 	 	1/7/2015	 	1/6/2020	 	 	10,714	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Placement Agent Warrants 2014/2015 Fund Raise	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Douglas E Hailey	 	 	37,650	 	 	1/7/2015	 	1/6/2020	 	 	37,650	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Schroeder	 	 	27,650	 	 	1/7/2015	 	1/6/2020	 	 	27,650	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vincent M Palmieri	 	 	67,305	 	 	1/7/2015	 	1/6/2020	 	 	67,305	 	 	 	 	 	 	 	 	 	 	 	 	 
	Gary Kurnov	 	 	2,530	 	 	1/7/2015	 	1/6/2020	 	 	2,530	 	 	 	 	 	 	 	 	 	 	 	 	 
	William M Cooke	 	 	2,530	 	 	1/7/2015	 	1/6/2020	 	 	2,530	 	 	 	 	 	 	 	 	 	 	 	 	 
	Denis Mcevoy	 	 	8,800	 	 	1/7/2015	 	1/6/2020	 	 	8,800	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael N. Taglich	 	 	84,444	 	 	1/7/2015	 	1/6/2020	 	 	84,444	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert F. Taglich	 	 	70,091	 	 	1/7/2015	 	1/6/2020	 	 	70,091	 	 	 	 	 	 	 	 	 	 	 	 	 
	Richard Oh	 	 	11,000	 	 	1/7/2015	 	1/6/2020	 	 	11,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Leonard Schleicher	 	 	4,500	 	 	1/7/2015	 	1/6/2020	 	 	4,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Brunone	 	 	8,500	 	 	1/7/2015	 	1/6/2020	 	 	8,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Russell Bernier	 	 	8,500	 	 	1/7/2015	 	1/6/2020	 	 	8,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Linda Taglich	 	 	2,500	 	 	1/7/2015	 	1/6/2020	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert M Lorenzo Ii	 	 	4,000	 	 	1/7/2015	 	1/6/2020	 	 	4,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Gilda Gaertner Tod Dated 05/10/2013	 	 	2,500	 	 	1/7/2015	 	1/6/2020	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Howard A Halpern	 	 	3,500	 	 	1/7/2015	 	1/6/2020	 	 	3,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	John Nobile Tod Dtd 3/21/06	 	 	3,500	 	 	1/7/2015	 	1/6/2020	 	 	3,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Juan V Noble	 	 	3,500	 	 	1/7/2015	 	1/6/2020	 	 	3,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	IR Agent Warrants	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Dan Boutcher	 	 	32,500	 	 	1/7/2015	 	1/6/2020	 	 	32,500	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Bridge Note warrants - 6/30/16	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Taglich	 	 	37,500	 	 	6/30/2016	 	6/29/2021	 	 	37,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vincent Palmieri	 	 	7,500	 	 	6/30/2016	 	6/29/2021	 	 	7,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert F. Taglich	 	 	30,000	 	 	6/30/2016	 	6/29/2021	 	 	30,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert W. Allen Trust	 	 	18,750	 	 	6/30/2016	 	6/29/2021	 	 	18,750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Shadow Capital LLC	 	 	15,000	 	 	6/30/2016	 	6/29/2021	 	 	15,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Joseph W. and Patricia G. Abrams Family Trust	 	 	15,000	 	 	6/30/2016	 	6/29/2021	 	 	15,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	William E. Alt Trust UAD	 	 	15,000	 	 	6/30/2016	 	6/29/2021	 	 	15,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Edward Roffman	 	 	3,750	 	 	6/30/2016	 	6/29/2021	 	 	3,750	 	 	 	 	 	 	 	 	 	 	 	 	 
	James P. Amaden IV and Sarah S. Amaden	 	 	3,750	 	 	6/30/2016	 	6/29/2021	 	 	3,750	 	 	 	 	 	 	 	 	 	 	 	 	 
	P. Kenneth Nitz	 	 	3,000	 	 	6/30/2016	 	6/29/2021	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Clive Kabatznik	 	 	7,500	 	 	6/30/2016	 	6/29/2021	 	 	7,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Timothy Tyson	 	 	15,000	 	 	7/7/2016	 	6/29/2021	 	 	15,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Placement Agent - Bridge Notes 6/30/16	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Douglas E Hailey	 	 	2,500	 	 	7/7/2016	 	6/29/2021	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Schroeder	 	 	3,000	 	 	7/7/2016	 	6/29/2021	 	 	3,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vincent M Palmieri	 	 	6,000	 	 	7/7/2016	 	6/29/2021	 	 	6,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael N. Taglich	 	 	7,820	 	 	7/7/2016	 	6/29/2021	 	 	7,820	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert F. Taglich	 	 	6,405	 	 	7/7/2016	 	6/29/2021	 	 	6,405	 	 	 	 	 	 	 	 	 	 	 	 	 
	Richard Oh	 	 	1,500	 	 	7/7/2016	 	6/29/2021	 	 	1,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Leonard Schleicher	 	 	200	 	 	7/7/2016	 	6/29/2021	 	 	200	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Brunone	 	 	300	 	 	7/7/2016	 	6/29/2021	 	 	300	 	 	 	 	 	 	 	 	 	 	 	 	 
	Russell Bernier	 	 	300	 	 	7/7/2016	 	6/29/2021	 	 	300	 	 	 	 	 	 	 	 	 	 	 	 	 
	Linda Taglich	 	 	200	 	 	7/7/2016	 	6/29/2021	 	 	200	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert M Lorenzo II	 	 	200	 	 	7/7/2016	 	6/29/2021	 	 	200	 	 	 	 	 	 	 	 	 	 	 	 	 
	Gilda Gaertner TOD Sated 5/10/2013	 	 	200	 	 	7/7/2016	 	6/29/2021	 	 	200	 	 	 	 	 	 	 	 	 	 	 	 	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

	Bridge Note Warrant - 4/12/17	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael N. Taglich	 	 	75,000	 	 	4/12/2017	 	4/11/2022	 	 	75,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert F. Taglich	 	 	75,000	 	 	4/12/2017	 	4/11/2022	 	 	75,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Timothy Tyson	 	 	75,000	 	 	4/12/2017	 	4/11/2022	 	 	75,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Placement Agent - Bridge Notes 4/12/17	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Douglas E Hailey	 	 	1,500	 	 	4/12/2017	 	4/11/2022	 	 	1,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Schroeder	 	 	2,500	 	 	4/12/2017	 	4/11/2022	 	 	2,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vincent M Palmieri	 	 	6,000	 	 	4/12/2017	 	4/11/2022	 	 	6,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael N. Taglich	 	 	7,500	 	 	4/12/2017	 	4/11/2022	 	 	7,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert F. Taglich	 	 	7,500	 	 	4/12/2017	 	4/11/2022	 	 	7,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GBP Debt Funding	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Warrants	 	 	857,143	 	 	5/15/2017	 	5/15/2022	 	 	857,143	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Series C Warrants	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Tim Tyson	 	 	571,420	 	 	4/2/2018	 	4/2/2025	 	 	571,420	 	 	 	 	 	 	 	 	 	 	 	 	 
	Clive Kabatznik	 	 	28,571	 	 	5/30/2018	 	5/30/2025	 	 	28,571	 	 	 	 	 	 	 	 	 	 	 	 	 
	Tim Tyson	 	 	114,284	 	 	7/13/2018	 	7/13/2025	 	 	114,284	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Taglich	 	 	42,857	 	 	8/27/2018	 	8/27/2025	 	 	42,857	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Taglich	 	 	42,857	 	 	8/27/2018	 	8/27/2025	 	 	42,857	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Bridge Notes - August 2018	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Tim Tyson	 	 	45,000	 	 	8/13/2018	 	8/13/2023	 	 	45,000	 	 	 	 	 	 	 	 	 	 	 	 	 
	Clive Kabatznik	 	 	22,500	 	 	8/13/2018	 	8/13/2023	 	 	22,500	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael Taglich	 	 	3,750	 	 	8/13/2018	 	8/13/2023	 	 	3,750	 	 	 	 	 	 	 	 	 	 	 	 	 
	Robert Taglich	 	 	3,750	 	 	8/13/2018	 	8/13/2023	 	 	3,750	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	3,979,773	 	 	 	 	 	 	 	3,836,372	 	 	 	 	 	 	 	 	 	 	 	143,401	 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

set
forth below is the beneficial ownership of each officer, director and 5% shareholder of icagen, inc.

 

ICAGEN INC                            

                               

DIRECTORS SHAREHOLDING                            

 

	Date	 	Description	 	Common Stock	 	 	Series C Preferred	 	 	Warrants	 	 	Total Before Options	 	 	Options vested	 	 	Options vesting next 60 days	 	 	Total Including options	 	 		 	 		 	 		 	 		 	 		 	 		 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	12/31/2014	 	Balance outstanding	 	 	6,393,107	 	 	 	799,989	 	 	 	3,979,773	 	 	 	11,172,869	 	 	 	1,382,945	 	 	 	 	 	 	 	12,555,814	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	6,393,107	 	 	 	799,989	 	 	 	3,979,773	 	 	 	11,172,869	 	 	 	1,382,945	 	 	 	 	 	 	 	12,555,814	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Common	 	 	 	Series C	 	 	 	Warrants	 	 	 	Options	 	 	 	Total	 	 	 	Percentage	 
	 	 	Officers	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Richard Cunningham	 	 	21,428	 	 	 	 	 	 	 	5,357	 	 	 	26,785	 	 	 	196,944	 	 	 	9,444	 	 	 	233,173	 	 	 	6,393,107	 	 	 	-	 	 	 	5,357	 	 	 	206,388	 	 	 	6,604,852	 	 	 	3.5	%
	 	 	Douglas Krafte	 	 	 	 	 	 	 	 	 	 	 	 	 	 	-	 	 	 	79,167	 	 	 	4,167	 	 	 	83,333	 	 	 	6,393,107	 	 	 	-	 	 	 	-	 	 	 	83,333	 	 	 	6,476,440	 	 	 	1.3	%
	 	 	Mark Korb	 	 	25,000	 	 	 	 	 	 	 	 	 	 	 	25,000	 	 	 	37,500	 	 	 	 	 	 	 	62,500	 	 	 	6,393,107	 	 	 	-	 	 	 	-	 	 	 	37,500	 	 	 	6,430,607	 	 	 	1.0	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	46,428	 	 	 	-	 	 	 	5,357	 	 	 	51,785	 	 	 	313,610	 	 	 	13,611	 	 	 	379,007	 	 	 	6,393,107	 	 	 	-	 	 	 	5,357	 	 	 	327,222	 	 	 	6,725,686	 	 	 	5.6	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Directors	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Timothy Tyson	 	 	164,284	 	 	 	685,704	 	 	 	861,775	 	 	 	1,711,763	 	 	 	90,213	 	 	 	1,250	 	 	 	1,803,226	 	 	 	6,393,107	 	 	 	685,704	 	 	 	861,775	 	 	 	91,463	 	 	 	8,032,049	 	 	 	22.5	%
	 	 	Clive Kabatznik	 	 	25,000	 	 	 	28,571	 	 	 	58,571	 	 	 	112,142	 	 	 	51,713	 	 	 	1,250	 	 	 	165,105	 	 	 	6,393,107	 	 	 	28,571	 	 	 	58,571	 	 	 	52,963	 	 	 	6,533,212	 	 	 	2.5	%
	 	 	Vincent Palmieri	 	 	74,736	 	 	 	 	 	 	 	144,990	 	 	 	219,726	 	 	 	24,213	 	 	 	1,250	 	 	 	245,189	 	 	 	6,393,107	 	 	 	-	 	 	 	144,990	 	 	 	25,463	 	 	 	6,563,560	 	 	 	3.7	%
	 	 	Edward Roffman	 	 	29,000	 	 	 	 	 	 	 	3,750	 	 	 	32,750	 	 	 	39,213	 	 	 	1,250	 	 	 	73,213	 	 	 	6,393,107	 	 	 	-	 	 	 	3,750	 	 	 	40,463	 	 	 	6,437,320	 	 	 	1.1	%
	 	 	Michael Taglich	 	 	453,314	 	 	 	42,857	 	 	 	439,552	 	 	 	935,723	 	 	 	24,213	 	 	 	1,250	 	 	 	961,186	 	 	 	6,393,107	 	 	 	42,857	 	 	 	439,552	 	 	 	25,463	 	 	 	6,900,979	 	 	 	13.9	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	746,334	 	 	 	757,132	 	 	 	1,508,638	 	 	 	3,012,104	 	 	 	229,565	 	 	 	6,250	 	 	 	3,247,919	 	 	 	6,393,107	 	 	 	757,132	 	 	 	1,508,638	 	 	 	235,815	 	 	 	8,894,692	 	 	 	36.5	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Directors and Officers	 	 	792,762	 	 	 	757,132	 	 	 	1,513,995	 	 	 	3,063,889	 	 	 	543,176	 	 	 	19,861	 	 	 	3,626,926	 	 	 	6,393,107	 	 	 	757,132	 	 	 	1,513,995	 	 	 	563,037	 	 	 	9,227,271	 	 	 	39.3	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	5% Shareholders	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Benjamin Warner	 	 	1,497,385	 	 	 	 	 	 	 	-	 	 	 	1,497,385	 	 	 	92,500	 	 	 	 	 	 	 	1,589,885	 	 	 	6,393,107	 	 	 	-	 	 	 	-	 	 	 	92,500	 	 	 	6,485,607	 	 	 	24.5	%
	 	 	Robert Taglich	 	 	373,839	 	 	 	42,857	 	 	 	376,994	 	 	 	793,690	 	 	 	-	 	 	 	 	 	 	 	793,690	 	 	 	6,393,107	 	 	 	42,857	 	 	 	376,994	 	 	 	-	 	 	 	6,812,958	 	 	 	11.6	%
	 	 	Joseph Abrams	 	 	316,372	 	 	 	 	 	 	 	15,000	 	 	 	331,372	 	 	 	52,500	 	 	 	 	 	 	 	383,872	 	 	 	6,393,107	 	 	 	-	 	 	 	15,000	 	 	 	52,500	 	 	 	6,460,607	 	 	 	5.9	%
	 	 	GPB	 	 	 	 	 	 	 	 	 	 	857,143	 	 	 	857,143	 	 	 	 	 	 	 	 	 	 	 	857,143	 	 	 	6,393,107	 	 	 	-	 	 	 	857,143	 	 	 	-	 	 	 	7,250,250	 	 	 	11.8	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	2,980,358	 	 	 	799,989	 	 	 	2,763,132	 	 	 	6,543,479	 	 	 	688,176	 	 	 	19,861	 	 	 	7,251,516	 	 	 	6,393,107	 	 	 	799,989	 	 	 	2,763,132	 	 	 	708,037	 	 	 	10,664,265	 	 	 	68.0	%

 

 ***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.12(b)

 

Information
Regarding Subsidiaries

 

Subsidiaries
of Icagen, Inc.

 

	Name of Subsidiary	 	Type of organization (e.g.

 corporation, limited 

liability company, limited 

partnership)	 	Jurisdiction of Incorporation	 	 	Percentage Owned by Borrower	 
	Icagen-T, Inc.	 	C Corporation	 	 	Delaware	 	 	 	100	%
	Icagen Corp.	 	C Corporation	 	 	Nevada	 	 	 	100	%
	Caldera Discovery, Inc.	 	C Corporation	 	 	Delaware	 	 	 	100	%
	XRpro Sciences, Inc.	 	C Corporation	 	 	Delaware	 	 	 	100	%

 

 ***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.12(c)

 

Equity
Investments

 

 None

 

 ***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.13(a)

 

Outstanding
Indebtedness

 

Indebtedness
outstanding as of the Closing Date that will remain after the making of the Term Loan:

 

		●	Icagen,
                                         Inc. has outstanding subordinated promissory notes in the principal amount of $500,000
                                         that were issued in August 2018
	 	 	 
		●	U.S
                                         Bank Equipment Finance, A Division of U.S. Bank National Association
	 	 	 
		●	BlueCat
                                         Bio purchase money lien over BluCatBiowasher located in Durham, North Carolina- $35,812.01
                                         plus accrued interest thereon from August 11, 2018 at an effective rate of10.3%, total
                                         outstanding installments of $41,125.05
	 	 	 
		●	Waters
                                         Technologies purchase money lien over software located in Oro Valley, Arizona-$65,018.16
                                         plus accrued interest from August 31, 2018 at an effective interest rate of 6.15% total
                                         outstanding installments amount to $71,500
	 	 	 
		●	Icagen
                                         Corp. owes deferred purchase consideration due to Pfizer of $9,750,000 in the form of
                                         an annual royalty payment payable quarterly commencing on May 31, 2017
	 	 	 
		●	Property
                                         Lease-4222 Emperor Blvd, Suite 350&385, Durham, NC-commitment of $163,601

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.13(b)

 

Pay-Off
Indebtedness

 

The
total amount of Pay-Off Indebtedness is $10,000,000 principal plus accrued interest and early settlement penalty thereon.

 

The
Pay-Off Indebtedness was initially incurred as described below and is equal to the principal amount outstanding, accrued and unpaid
interest and other amounts payable in connection with the repayment of such Indebtedness.

 

On
May 15, 2017, the Borrower, and its wholly owned subsidiary, Icagen-T, Inc. (“Icagen-T”), entered into a Securities
Purchase Agreement (“Securities Purchase Agreement”) with GPB Debt Holdings II, LLC (“GPB”), pursuant
to which (i) the Borrower issued to GPB a three year Senior Secured Convertible Note maturing on May 15, 2020, bearing interest
at the rate of 13% per annum in the aggregate principal amount of $2,000,000; and (ii) Icagen-T issued to GPB a three year Senior
Secured Convertible Note maturing on May 15, 2020, bearing interest at the rate of 13% per annum, in the aggregate principal amount
of $8,000,000.

 

 ***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.13(c)

 

 Liens

 

		●	UCC-1
                                         Financing Statement-Icagen, Inc.-U.S. Bank Equipment Financing

 

		●	BlueCat
                                         Bio purchase money lien over BluCatBiowasher located in Durham, North Carolina

 

 ***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.14

 

Material
Agreements of Obligors

 

Stock Option Plan (Filed as an exhibit
to the Registration Statement on Form S-1 filed February 14, 2012)

 

Assignment of Exclusive License Agreement
by The Regents of the University of California to Los Alamos National Security, LLC (Filed as an exhibit to the Registration Statement
on Form S-1/A filed April 20, 2012)

 

OEM Agreement, dated July 5, 2011, by and
between the Borrower and our equipment supplier (Filed as an exhibit to the Registration Statement on Form S-1/A filed June 8,
2012)

 

Exclusive Patent License Agreement, dated
September 8, 2005, by and between the Borrower and The Regents of the University of California (Filed as an exhibit to the Registration
Statement on Form S-1/A filed June 14, 2012)

 

Employment Agreement with Richard Cunningham
dated as of November 24, 2014 (Filed as an exhibit to the Current Report on Form 8-K filed on November 17, 2014)

 

Form of Investor Warrant (Filed as an exhibit
to Current Report on Form 8-K filed January 7, 2015)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Form of Placement Agent Warrant (Filed
as an exhibit to Current Report on Form 8-K filed January 7, 2015)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Form of Bridge Exchange Warrant (Filed
as an exhibit to the Current Report on Form 8-K filed on February 3, 2015)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Form of Series B Exchange Warrant (Filed
as an exhibit to the Current Report on Form 8-K filed on February 3, 2015)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Form of Placement Agent Exchange Warrant
(Filed as an exhibit to the Current Report on Form 8-K filed on February 3, 2015)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Asset Purchase Agreement and Collaboration
Agreement dated as of June 26, 2015 between XRpro Sciences, Inc. (now known as Icagen, Inc.) and Icagen, Inc. (a subsidiary of
Pfizer, Inc.) (Filed as an exhibit to the Current Report on Form 8-K filed on July 2, 2015)

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Master Service Agreement dated as of June
26, 2015 between XRPro Sciences, Inc. (now known as Icagen, Inc.) and Icagen, Inc. (a subsidiary of Pfizer, Inc.) (Filed as an
exhibit to the Current Report on Form 8-K filed on July 2, 2015)

 

Icagen, Inc. Stock Incentive Plan (Filed
as an exhibit to Exhibit B to the Preliminary Information Statement on Schedule 14C filed with the Securities and Exchange Commission
on December 24, 2015 and to the Current Report on Form 8-K filed on December 29, 2015)

 

Icagen, Inc. Stock Option Agreement under
the 2015 Stock Incentive Plan, as amended (Filed as an exhibit to the Current Report on Form 8-K filed on December 29, 2015)

 

		-	See Schedule 7.12(a) – Options Outstanding for Individual Issuances

 

Asset Purchase Agreement between Icagen-T,
Inc. and Sanofi dated June 27, 2016 (Filed as an exhibit to the Current Report on Form 8-K filed on June 30, 2016)

 

Form of Warrant issued to investors (Filed
as an exhibit to the Current Report on Form 8-K filed on July 7, 2016)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Amendment to Asset Purchase and Collaboration
Agreement between Icagen, Inc. (f/k/a XRpro Sciences, Inc.) and Pfizer Research (NC), Inc. (f/k/a Icagen, Inc.) (Filed as an exhibit
to the Current Report on Form 8-K filed July 19, 2016)

 

Master Services Agreement between Icagen-T,
Inc. and Sanofi US Services Inc. (Filed as an exhibit to the Current Report on Form 8-K filed July 19, 2016)

 

Form of Warrant issued to investors (Filed
as an exhibit to the Current Report on Form 8-K filed on April 14, 2017)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Warrant, dated May 15, 2017, issued by
Icagen, Inc. to GPB Debt Holdings II, LLC (Filed as an exhibit to the Current Report on Form 8-K filed on May 17, 2017)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Employment Agreement, dated June 19, 2017
by and between Douglas Krafte, Ph.D. (Filed as an exhibit to the Current Report on Form 8-K filed on June 21, 2017)

 

Second Amendment to Asset Purchase and
Collaboration Agreement by and between Pfizer Research (NC), Inc. (f/k/a Icagen, Inc.) and Icagen, Inc. (f/k/a XRpro Sciences,
Inc.) (Filed as an exhibit to the Quarterly Report on Form 10-Q filed on August 16, 2017)

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Form of Stock Option Agreement 2005 Incentive
Stock Plan Warrant (Filed as an exhibit to the Registration Statement on Form S-8 filed on August 17, 2017)

 

		-	See Schedule 7.12(a) – Options Outstanding for Individual Issuances

 

Certificate of Designation for Series C
Convertible Preferred Stock (Filed as an exhibit to Current Report on Form 8-K filed April 9, 2018)

 

Form of Series C Warrant (Filed as an exhibit
to Current Report on Form 8-K filed April 9, 2018)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Securities Purchase Agreement by and among
Icagen, Inc. and the investors named therein regarding the Series C Convertible Preferred Stock (Filed as an exhibit to the Current
Report on Form 8-K filed April 9, 2018)

 

		-	Securities Purchase Agreement between Icagen, Inc. and Timothy Tyson Revocable Trust dated April
2, 2018

 

		-	Securities Purchase Agreement between Icagen, Inc. and Clive Kabatznik dated May 30, 2018

 

		-	Securities Purchase Agreement between Icagen, Inc. and Michael Taglich dated August 27, 2018

 

		-	Securities Purchase Agreement between Icagen, Inc. and Robert Taglich dated August 27, 2018

 

Amended and Restated Warrant to purchase
857,143 shares of common stock dated as of May 15, 2017 issued by Icagen, Inc. to GPB Debt Holdings II, LLC (Filed as an exhibit
to the Annual Report on Form 10-K filed on April 17, 2018)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Research Development and Commercialization
Agreement made May 1, 2018 by and between Icagen, Inc. and Cystic Fibrosis Foundation and amendment No. 1 thereto

 

Research Collaboration and License Agreement
made May 1, 2018 between Sanofi and Icagen, Inc.

 

Securities Purchase Agreement by and among
Icagen, Inc. and the investors named therein regarding the 10% Subordinated Promissory Notes (Filed as an exhibit to the Current
Report on Form 8-K filed August 15, 2018)

 

		-	Securities Purchase Agreement between Icagen, Inc. and Timothy Tyson Revocable Trust dated August
13, 2018

 

		-	Securities Purchase Agreement between Icagen, Inc. and Clive Kabatznik dated August 13, 2018

 

		-	Securities Purchase Agreement between Icagen, Inc. and Michael Taglich dated August 13, 2018

 

		-	Securities Purchase Agreement between Icagen, Inc. and Robert Taglich dated August 13, 2018

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Form of 10% Subordinated Promissory Note
(Filed as an exhibit to the Current Report on Form 8-K filed August 15, 2018)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Form of Warrant issued with the 10% Subordinated
Promissory Notes (Filed as an exhibit to the Current Report on Form 8-K filed August 15, 2018)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.15

 

Restrictive
Agreements

 

Asset Purchase Agreement and Collaboration
Agreement dated as of June 26, 2015 between XRpro Sciences, Inc. (now known as Icagen, Inc.) and Icagen, Inc. (a subsidiary of
Pfizer, Inc.) (Filed as an exhibit to the Current Report on Form 8-K filed on July 2, 2015)

 

Master Service Agreement dated as of June
26, 2015 between XRPro Sciences, Inc. (now known as Icagen, Inc.) and Icagen, Inc. (a subsidiary of Pfizer, Inc.) (Filed as an
exhibit to the Current Report on Form 8-K filed on July 2, 2015)

 

Warrant, dated May 15, 2017, issued by
Icagen, Inc. (Filed as an exhibit to the Current Report on Form 8-K filed on May 17, 2017)

 

Securities Purchase Agreement by and among
Icagen, Inc. and the investors named therein regarding the 10% Subordinated Promissory Notes (Filed as an exhibit to the Current
Report on Form 8-K filed August 15, 2018)

 

Form of Warrant issued with the 10% Subordinated
Promissory Notes (Filed as an exhibit to the Current Report on Form 8-K filed August 15, 2018)

 

		-	See Schedule 7.12(a) – Warrants and Notes Outstanding for Individual Issuances

 

Research Development and Commercialization
Agreement made May 1, 2018 by and between Icagen, Inc. and Cystic Fibrosis Foundation and amendment No. 1 thereto

 

Research Collaboration and License Agreement
made May 1, 2018 between Sanofi and Icagen, Inc.

 

Amendment to Asset Purchase and Collaboration
Agreement between Icagen, Inc. (f/k/a XRpro Sciences, Inc.) and Pfizer Research (NC), Inc. (f/k/a Icagen, Inc.) (Filed as an exhibit
to the Current Report on Form 8-K filed July 19, 2016)

 

Certificate of Designations for Series
C Convertible Preferred Stock

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.16

 

Real Property
Owned or Leased by Obligors

 

Set forth below are all the locations where
any Obligor owns or leases any real property:

 

	Obligor
	 	Address/City/
    State/Zip Code	 	County	 	Owned
    or Leased	 	Lessor
	 	 	 	 	 	 	 	 	 
	Icagen, Inc.	 	
        4222 Emperor Blvd

        Suite 350

        Research Triangle Park

        Durham, NC 27703
	 	Durham	 	Sublease 	 	Pfizer Research (NC), Inc.
	 	 	 	 	 	 	 	 	 
	Icagen Corp.	 	
        4222 Emperor Blvd

        Suite 350

        Research Triangle Park

        Durham, NC 27703
	 	Durham	 	Sublease	 	Pfizer Research (NC), Inc.
	 	 	 	 	 	 	 	 	 
	Caldera Discovery, Inc.	 	
        4222 Emperor Blvd

        Suite 350

        Research Triangle Park

        Durham, NC 27703
	 	Durham	 	Sublease	 	Pfizer Research (NC), Inc.

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.17

 

Pension
Matters

 

Pension, Retirement, Savings, Deferred Compensation and Profit
Sharing Plans

 

The Icagen 401(k) Plan

 

Blue Cross Blue Shield of North Carolina – Medical Coverage

 

Principal Financial Group

 

		·	Long Term Disability Policy

 

		·	Short Term Disability Policy

 

		·	Life Policy

 

		·	AD&D Policy

 

		·	Dental Policy

 

		·	Voluntary Life Policy

 

Superior Vision – Vision Coverage

 

Lincoln Benefit life

 

		·	Disability coverage – legacy employees

 

		·	Life cover – legacy employees

 

The Hartford

 

		·	Workers Compensation Policy

 

		·	ERISA Bond coverage

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.19(b)

 

Regulatory
Approvals

 

None

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.19(e)

 

Certain
Regulatory Matters

 

None

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.20

 

Transactions
with Affiliates

 

Timothy Tyson

 

On April 1, 2014, On May 19, 2016, Icagen,
Inc., issued ten-year options exercisable for 66,000 shares of common stock at $3.50 per share to Mr. Tyson.

 

Mr. Tyson participated in the Borrower’s
private placement that was consummated on January 7, 2015 as follows: 142,856 shares of Common Stock and 35,714 of Offering Warrants
to purchase shares of our Common Stock at an exercise price of $3.50 per share were purchased by Mr. Tyson’s Revocable Trust.

 

On May 19, 2016, Icagen, Inc., issued ten-year
options exercisable for 12,500 shares of common stock at $3.50 per share to Mr. Tyson.

 

On July 6, 2016, Icagen, Inc., entered
into a Securities Purchase Agreement and issued a secured 8% Bridge Note for $100,000 to Mr. Tyson in consideration of $100,000.

 

On July 6, 2016, Icagen, Inc. issued Mr.
Tyson five year Warrants to acquire 15,000 shares of common stock exercisable at $3.50 per share.

 

On March 15, 2017, Icagen, Inc. issued
Mr. Tyson ten-year options exercisable for 10,000 shares of common stock at $3.50 per share.

 

On April 13, 2017, Icagen, Inc., entered
into a Securities Purchase Agreement and issued a secured 8% Bridge Note for $500,000 to Mr. Tyson in consideration of $500,000.

 

On April 13, 2017, Icagen, Inc. issued
Mr. Tyson five year Warrants to acquire 75,000 shares of common stock exercisable at $3.50 per share. These warrants are also exchangeable,
at the option of the holder, for a like number of warrants issued to any lender in the next debt financing.

 

On December 29, 2017, Mr. Tyson purchased
21,428 shares of common stock and a warrant to purchase 5,357 shares of common stock in a private transaction with an existing
shareholder of the Company.

 

On April 4, 2018, Mr. Tyson purchased 571,420
shares of Series C Convertible Preferred Stock with a $3.50 conversion price and a warrant to purchase 571,420 shares of common
stock exercisable at $3.50 per share.

 

On July 13, 2018, Mr. Tyson purchased 114,284
shares of Series C Convertible Preferred Stock with a $3.50 conversion price and a warrant to purchase 114,284 shares of common
stock exercisable at $3.50 per share.

 

On August 13, 2018, Icagen, Inc. entered
into a Securities Purchase Agreement and issued a secured 10% Bridge Note for $300,000 to Mr. Tyson in consideration of $300,000.

 

On August 13, 2018, Icagen, Inc. issued
Mr. Tyson five year Warrants to acquire 45,000 shares of common stock exercisable at $3.50 per share.

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Michael Taglich

 

On April 1, 2014, Icagen, Inc., issued
ten-year options exercisable for 12,500 shares of common stock at $3.50 per share to Mr. Taglich.

 

Mr. Taglich participated in the Borrower’s
private placement that was consummated on January 7, 2015 as follows: (a) 285,714 shares of Common Stock and 71,429 Offering Warrants
to purchase 71,429 shares of Common Stock were acquired by Mr. Taglich’s Keogh account; (b) an aggregate of 22,856 shares
of Common Stock and an aggregate of 5,714 Offering Warrants to purchase 5,714 shares of Common Stock were acquired by four (4)
separate custodial accounts for the benefit of Mr. Taglich’s children; and (c) 14,286 shares of Common Stock and 3,572 Offering
Warrants to purchase 3,572 shares of Common Stock were acquired by the Tag/Kent Partnership. In addition, Mr. Taglich received
84,444 placement agent warrants in connection with the private placement that was consummated on January 7, 2015.

 

On January 31, 2015: (a) Mr. Taglich exchanged
41,354 shares of Series B Preferred Stock together with all accrued and unpaid dividends thereon for 35,048 shares of Common Stock;
(b) 20,000 shares of Series B Preferred Stock together with all accrued and unpaid dividends thereon were exchanged by Michael
and Claudia Taglich as joint tenants with right of survivorship for 16,933 shares of Common Stock; and (c) 60,000 shares of Series
B Preferred Stock together with all accrued and unpaid dividends thereon were exchanged by the Partnership for 50,798 shares of
Common Stock. On January 31, 2015, the following exchanges occurred: (a) Mr. Taglich exchanged 30,000 Existing Bridge Warrants
exercisable at $6.00 per share for 30,000 Bride Exchange Warrants exercisable at $4.20 per share; (b) (i) 20,677 Existing Series
B Warrants exercisable at $5.00 per share were exchanged by Mr. Taglich for 20,677 Series B Exchange Warrants exercisable at $3.50
per share, (ii) 10,000 Existing Series B Warrants exercisable at $5.00 per share were exchanged by Michael and Claudia Taglich
as joint tenants with right of survivorship for 10,000 Series B Exchange Warrants exercisable at $3.50 per share, and (iii) 30,000
Existing Series B Warrants exercisable at $5.00 per share were exchanged by the Partnership for 30,000 Series B Exchange Warrants
exercisable at $3.50 per share; and (c) Mr. Taglich exchanged 33,929 Existing Placement Agent Warrants exercisable at $5.50 per
share for 33,929 Placement Agent Exchange Warrants exercisable at $3.85 per share.

 

On May 19, 2016, Icagen, Inc., issued ten-year
options exercisable for 12,500 shares of common stock at $3.50 per share to Mr. Taglich.

 

On June 30, 2016, Icagen, Inc., entered
into a Securities Purchase Agreement and issued a secured 8% Bridge Note for $250,000 to Mr. Taglich in consideration of $250,000.

 

On June 30, 2016, Icagen, Inc. issued five
year Warrants to acquire 37,500 shares of common stock exercisable at $3.50 per share.

 

Icagen, Inc., retained Taglich Brothers,
Inc. as the exclusive placement agent for the 2016 Bridge Note Offering. Icagen, Inc., agreed to pay the placement agent a six
percent (6%) commission from the gross proceeds of the Offering ($1,145,000) and agreed to reimburse approximately $15,000 in respect
of out of pocket expenses incurred by the placement agent in connection with the Offering. Icagen, Inc., also issued the placement
agent the same warrant that the investors received exercisable for an aggregate amount of 28,625 shares of Common Stock at an exercise
price of $3.50 per share (the “Placement Agent Warrants”).

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

As an employee and Principal of Taglich
Brothers Inc., Mr. Taglich was issued 2016 Placement Agent Warrants to purchase 7,820 shares of Common stock at an exercise price
of $3.50 per share.

 

On March 15, 2017, Icagen, Inc. issued
Mr. Taglich ten-year options exercisable for 10,000 shares of common stock at $3.50 per share.

 

On April 12, 2017, Icagen, Inc., entered
into a Securities Purchase Agreement and issued a secured 8% Bridge Note for $500,000 to Mr. Taglich in consideration of $500,000.

 

On April 12, 2017, Icagen, Inc., issued
five year Warrants to acquire 75,000 shares of common stock exercisable at $3.50 per share. These warrants are also exchangeable,
at the option of the holder, for a like number of warrants issued to any lender in the next debt financing.

 

Icagen, Inc., retained Taglich Brothers,
Inc. as the exclusive placement agent for the 2017 Bridge Note Offering. Icagen, Inc., agreed to pay the placement agent a six
percent (6%) commission from the gross proceeds of the Offering (excluding $500,000 invested by the Chairman of the Board of Directors,
Timothy Tyson) for a total commission of $60,000. Icagen, Inc., also issued the Placement Agent the same warrant that the investors
received exercisable for an aggregate amount of 25,000 shares of Common Stock at an exercise price of $3.50 per share (the “2017
Placement Agent Warrants”). The Placement Agent has the right to exchange the Placement Agent Warrants for a like number
of warrants to be issued to the lender in the next debt financing.

 

As an employee and Principal of Taglich
Brothers Inc., Mr. Taglich was issued 2017 Placement Agent Warrants to purchase 7,500 shares of Common stock.

 

On December 29, 2017, Mr. Taglich purchased
21,429 shares of common stock and a warrant to purchase 5,358 shares of common stock in a private transaction with an existing
shareholder of the Company.

 

On August 13, 2018, Icagen, Inc. entered
into a Securities Purchase Agreement and issued a secured 10% Bridge Note for $50,000 to Mr. Taglich in consideration of $50,000.

 

On August 13, 2018, Icagen, Inc. issued
Mr. Taglich five year Warrants to acquire 7,500 shares of common stock exercisable at $3.50 per share.

 

On August 27, 2018, Mr. Taglich purchased
42,857 shares of Series C Convertible Preferred Stock with a $3.50 conversion price and a warrant to purchase 42,857 shares of
common stock exercisable at $3.50 per share.

 

Vincent Palmieri

 

On April 1, 2014, Icagen, Inc. issued ten-year
options exercisable for 10,000 shares of common stock at $3.50 per share to Mr. Palmieri.

 

Mr. Palmieri participated in the Borrower’s
private placement that was consummated on January 7, 2015 as follows: 22,258 shares of Common Stock and 5,565 Offering Warrants
to purchase 5,565 shares of Common Stock were acquired by Mr. Palmieri. Mr. Palmieri also received 67,305 warrants in connection
with his services as placement agent.

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

On January 31, 2015, Mr. Palmieri exchanged
30,737 shares of Series B Preferred Stock together with all accrued dividends thereon for 26,050 shares of our Common Stock. In
addition, Mr. Palmieri also exchanged: (i) 22,500 existing Bridge Warrants exercisable for $6.00 per share for 22,500 Bridge Exchange
Warrants exercisable for $4.20 per share; (ii) 15,369 Existing Series B Warrants exercisable for $5.00 per share were exchanged
for 15,369 Series B Exchange Warrants exercisable at $3.50 per share; and (iii) 31,894 Existing Placement Agent Warrants exercisable
at $5.50 per share for 31,894 Placement Agent Exchange Warrants exercisable for $3.85 per share.

 

On May 19, 2016, Icagen, Inc. issued ten-year
options exercisable for 12,500 shares of common stock at $3.50 per share to Mr. Palmieri.

 

On June 30, 2016, Icagen, Inc. issued entered
into a Securities Purchase Agreement and issued a secured 8% Bridge Note for $50,000 to Mr. Palmieri in consideration of $50,000.

 

On June 30, 2016, Icagen, Inc. issued Mr.
Palmieri five year Warrants to acquire 7,500 shares of common stock exercisable at $3.50 per share.

 

As an employee of Taglich Brothers Inc.,
Mr. Palmieri was issued 2016 Placement Agent warrants to purchase 6,000 shares of Common stock at an exercise price of $3.50 per
share.

 

On March 15, 2017, Icagen, Inc. issued
Mr. Palmieri ten-year options exercisable for 10,000 shares of common stock at $3.50 per share.

 

As an employee of Taglich Brothers Inc.,
Mr. Palmieri was issued 2017 Placement Agent Warrants to purchase 6,000 shares of Common stock at an exercise price of $3.50 per
share.

 

On December 29, 2017, Mr. Palmieri purchased
21,428 shares of common stock and a warrant to purchase 5,357 shares of common stock in a private transaction with an existing
shareholder of the Company.

 

Clive Kabatznik

 

On January 31, 2015, Mr. Kabatznik exchanged
15,000 existing bridge warrants exercisable at $6.00 per share for 15,000 bride exchange warrants exercisable at $4.20 per share.

 

On May 19, 2016, Icagen, Inc., issued ten-year
options exercisable for 12,500 shares of common stock at $3.50 per share to Mr. Kabatznik.

 

On June 30, 2016, Icagen, Inc., entered
into a Securities Purchase Agreement and issued a secured 8% Bridge Note for $50,000 to Mr. Kabatznik in consideration of $50,000
in cash.

 

On June 30, 2016, Icagen, Inc. issued Mr.
Kabatznik five year Warrants to acquire 7,500 shares of common stock exercisable at $3.50 per share.

 

On March 15, 2017, Icagen, Inc. issued
Mr. Kabatznik ten-year options exercisable for 10,000 shares of common stock at $3.50 per share.

 

On April 4, 2018, Mr. Kabatznik purchased
28,571 shares of Series C Convertible Preferred Stock with a $3.50 conversion price and a warrant to purchase 28,571 shares of
common stock exercisable at $3.50 per share.

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

On August 13, 2018, Icagen, Inc. entered
into a Securities Purchase Agreement and issued a secured 10% Bridge Note for $150,000 to Mr. Kabatznik in consideration of $150,000.

 

On August 13, 2018, Icagen, Inc. issued
Mr. Kabatznik five year Warrants to acquire 22,500 shares of common stock exercisable at $3.50 per share.

 

Edward Roffman

 

On May 1, 2012, Icagen, Inc., issued ten-year
options exercisable for 15,000 shares of common stock at $0.40 per share to Mr. Roffman.

 

On April 1, 2014, Icagen, Inc., issued
ten-year options exercisable for 10,000 shares of common stock at $3.50 per share to Mr. Roffman.

 

On May 19, 2016, Icagen, Inc., issued ten-year
options exercisable for 12,500 shares of common stock at $3.50 per share to Mr. Roffman.

 

On June 30, 2016, Icagen, Inc., entered
into a Securities Purchase Agreement and issued a secured 8% Bridge Note for $25,000 to Mr. Roffman in consideration of $25,000.

 

On June 30, 2016, Icagen, Inc. issued Mr.
Roffman five year Warrants to acquire 3,750 shares of common stock exercisable at $3.50 per share.

 

On March 15, 2017, Icagen, Inc. issued
Mr. Roffman ten-year options exercisable for 10,000 shares of common stock at $3.50 per share.

 

Douglas Krafte

 

On February 25, 2016, upon the resignation
of Dr. Benjamin Warner, as the Borrower’s Chief Scientific Officer, Douglas Krafte, age 56, the Chief Scientific Officer
of the Borrower’s subsidiary Icagen Corp., was appointed to the position of Chief Scientific Officer for Icagen, Inc. and
its subsidiaries.

 

On May 19, 2016, Icagen, Inc., issued ten-year
options exercisable for 100,000 shares of common stock at $3.50 per common shares to Mr. Krafte.

 

Richard Cunningham

 

Pursuant to the terms of an employment
agreement entered into with Richard Cunningham, the Borrower’s Chief Executive Officer, stock options to purchase 250,000
shares of Common Stock were awarded to Mr. Cunningham on January 7, 2015, which options vest as follows: (i) Fifty Thousand (50,000)
shares shall vest on November 24, 2015; (ii) One Hundred and Fifty Thousand (150,000) shares shall vest monthly on a pro rata basis
commencing on December 31, 2015 for a period of thirty six months; and (iii) Fifty Thousand (50,000) shares shall vest on the November
24, 2018. The exercise price for the options is $3.50 per share. Upon a change of control, as defined in the Borrower’s existing
stock option plan, all unvested options issued to Mr. Cunningham shall become fully vested immediately upon the change of control.

 

On March 15, 2017, Icagen, Inc. issued
Mr. Cunningham ten-year options exercisable for 20,000 shares of common stock at $3.50 per share.

 

On December 29, 2017, Mr. Cunningham purchased
21,428 shares of common stock and a warrant to purchase 5,357 shares of common stock in a private transaction with an existing
shareholder of the Company.

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Ben Warner

The Company entered into a Settlement and
Release Agreement, dated July 7, 2017 with Benjamin Warner (filed as an exhibit to the Current Report on Form 8-K filed on July
11, 2017)

 

The Company entered into a Settlement and
Age Discrimination in Employment Act Release Agreement, dated July 7, 2017, with Dr. Benjamin Warner (filed as an exhibit to the
Current Report on Form 8-K filed on July 11, 2017)

 

Robert Taglich

 

On June 30, 2016, the Company entered into
a Securities Purchase Agreement and issued a secured 8% Bridge Note for $200,000 to Mr. Taglich in consideration of $200,000. The
Note matures on June 30, 2017. The Note, together with interest thereon was repaid on August 8, 2016.

 

In connection with the Note above, on June
30, 2016, Mr. Taglich was issued five year Warrants to acquire 30,000 shares of common stock exercisable at $3.50 per share.

 

The Company retained Taglich Brothers,
Inc. as the exclusive placement agent for the Offering. In connection therewith, the Company agreed to pay the placement agent
a six percent (6%) commission from the gross proceeds of the Offering ($1,145,000) and agreed to reimburse approximately $15,000
in respect of out of pocket expenses incurred by the placement agent in connection with the Offering. The Company also issued the
placement agent the same warrant that the investors received exercisable for an aggregate amount of 28,625 shares of common stock
at an exercise price of $3.50 per share (2,500 shares of common stock for each $100,000 in principal amount of Notes sold) (the
“Placement Agent Warrants”). Mr. Taglich was issued 2017 Placement Agent Warrants to purchase 6,405 shares of common
stock.

 

On April 12, 2017, the Company entered
into a Securities Purchase Agreement and issued a secured 8% Bridge Note for $500,000 to Mr. Taglich in consideration of $500,000.
The Note matures 30 days from the date of issuance. In connection with the Note, Mr. Taglich was issued five year Warrants to acquire
75,000 shares of common stock exercisable at $3.50 per share. These warrants are also exchangeable, at the option of the holder,
for a like number of warrants issued to any lender in the Company’s next debt financing.

 

The Company retained Taglich Brothers,
Inc. as the exclusive placement agent for the Offering. In connection therewith, the Company agreed to pay the placement agent
a six percent (6%) commission from the gross proceeds of the Offering (excluding $500,000 invested by our Chairman of the Board
of Directors, Timothy Tyson) for a total commission of $60,000. The Company also issued the Placement Agent the same warrant that
the investors received exercisable for an aggregate amount of 25,000 shares of common stock at an exercise price of $3.50 per share
(2,500 shares of common stock for each $100,000 in principal amount of Notes sold, excluding Notes sold to the Chairman) (the “2017
Placement Agent Warrants”). The Placement Agent has the right to exchange the Placement Agent Warrants for a like number
of warrants to be issued to the lender in the Company’s next debt financing. As an employee and Principal of Taglich Brothers
Inc. Mr. Taglich was issued 2017 Placement Agent Warrants to purchase 7,500 shares of common stock. 

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

On August 13, 2018, Icagen, Inc. entered
into a Securities Purchase Agreement and issued a secured 10% Bridge Note for $50,000 to Mr. Taglich in consideration of $50,000.

 

On August 13, 2018, Icagen, Inc. issued
Mr. Taglich five year Warrants to acquire 7,500 shares of common stock exercisable at $3.50 per share.

 

On August 27, 2018, Mr. Taglich purchased
42,857 shares of Series C Convertible Preferred Stock with a $3.50 conversion price and a warrant to purchase 42,857 shares of
common stock exercisable at $3.50 per share.

 

First South Africa Management

 

The Borrower incurred an expense of $222,000
for services provided by First South Africa Management for provision of CFO services by Mr. Korb and for bookkeeping services for
the year ended December 31, 2015.

 

The Borrower incurred an expense of $180,000
for services provided by First South Africa Management for provision of CFO services by Mr. Korb and $42,000 for bookkeeping services
for the year ended December 31, 2016.

 

The Borrower incurred an expense of $180,000
for services provided by First South Africa Management for provision of CFO services by Mr. Korb for the year ended December 31,
2017 and $89,600 for bookkeeping services for the year ended December 31, 2017. As of December 31, 2017, the Borrower owed First
South Africa Management $23,500.

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.21

 

OFAC Matters

 

None

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.23

 

Deposit
and Disbursement Accounts

 

Set forth below is a list of all
bank accounts of any Obligor (checking, savings, money market or the like) in which any Obligor customarily maintains in excess
of $10,000.

 

	Obligor	 	Type of Account	 	Name & Address of

Financial Institutions	 	Account Number
	 	 	 	 	 	 	 
	Icagen, Inc.	 	Commercial Checking	 	
        JP Morgan Chase Bank

        PO Box 659754

        San Antonio, Texas

        78265-9754

         

        5950 Glades Road,

        Boca Raton, FL 33431
	 	672002107
	 	 	 	 	 	 	 
	Icagen Corp	 	Commercial Checking	 	
        JP Morgan Chase Bank

        PO Box 659754

        San Antonio, Texas

        78265-9754

         

        5950 Glades Road,

        Boca Raton, FL 33431
	 	793379772
	 	 	 	 	 	 	 
	Icagen, Inc.	 	Business Advantage Checking	 	
        Bank of America, N.A.

        PO Box 15284

        Wilmington, DE 197850
	 	229048442728
	 	 	 	 	 	 	 
	Icagen-T, Inc.	 	Commercial Checking	 	
        JP Morgan Chase Bank

        PO Box 659754

        San Antonio, Texas

        78265-9754

         

        5950 Glades Road,

        Boca Raton, FL 33431
	 	855068917

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
7.24

 

Royalty
and Payments

 

Asset Purchase Agreement and Collaboration
Agreement dated as of June 26, 2015 between XRpro Sciences, Inc. (now known as Icagen, Inc.) and Icagen, Inc. (a subsidiary of
Pfizer) (Filed as an exhibit to the Current Report on Form 8-K filed on July 2, 2015)

 

Master Service Agreement dated as of June
26, 2015 between XRPro Sciences (now known as Icagen, Inc.) and Icagen, Inc. (a subsidiary of Pfizer) (2) (Filed as an exhibit
to the Current Report on Form 8-K filed on July 2, 2015)

 

Amendment to Asset Purchase and Collaboration
Agreement between Icagen, Inc. and Pfizer Research Inc. (Filed as an exhibit to the Current Report on Form 8-K filed July 19, 2016)

 

Research Development and Commercialization
Agreement made May 1, 2018 by and between Icagen, Inc. and Cystic Fibrosis Foundation and amendment No. 1 thereto

 

Research Collaboration and License Agreement
made May 1, 2018 between Sanofi and Icagen, Inc.

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
9.05

 

Existing
Investments

 

None

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
9.10

 

Transactions
with Affiliates

 

None

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
9.14

 

Permitted Sales and Leasebacks

 

None

 

***

 

     

    Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.

    

 

Schedule
10.02

 

Contemplated
Collaboration Agreement

 

[*****]

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