Document:

Blueprint

 

EXHIBIT 10.57

 

STANDSTILL AGREEMENT

 

         This Standstill Agreement (this “Agreement”) is made and entered into as of July 19, 2016, by and between Fusion Telecommunications International, Inc., a Delaware corporation ("Fusion"), Unterberg
Koller Capital Fund, L.P. (“UKCF”), and Unterberg Technology Partners. L.P. (“UTP” and together with UKCF, hereinafter referred to collectively as the “Shareholder”).

 

 
WHEREAS, on May 9, 2016, Nasdaq notified Fusion that, in its view, Fusion was in violation of Listing Rule 5635(b) (the “Rule”) as a result of the Shareholder owning and/or having the right to acquire more than twenty percent (20%) of
Fusion’s common stock, $0.01 par value per share (the “Fusion Common Shares”) without prior shareholder approval (collectively, the “Transaction”);

 

WHEREAS, the Rule requires that shareholder approval be obtained prior to the time that any individual shareholder acquires twenty percent (20%) or more of the stock of a listed company;

 

WHEREAS, as a result of the Rule violation, Fusion is required to submit a plan of compliance to Nasdaq detailing the steps it intends to take in order to regain compliance with the Rule; and

 

WHEREAS, a key component of its compliance plan is the execution of this Agreement with Shareholder whereby Shareholder agrees, among other things, not to vote more than 19.9% of its Fusion Common Shares until the Transaction is approved by shareholders at a meeting to consider the Transaction.

 

 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the parties hereby agree as follows:

 

         1. Certain Definitions. For purposes of this Agreement, the following terms shall have the following meanings:

 

(a)  “Agreement” has the meaning given such term in the preamble.

 

(b) “Expiration Date” means the date on which shareholders of Fusion’s equity securities representing at least a majority of the votes “cast” at a validly called meeting vote to approve the Transaction or, if such approval is not obtained by November 5, 2016, the date on which
the Shareholder exchanges the Subject Shares for the “Non-Voting Shares”.

 

(c) “Fusion” has the meaning given such term in the preamble.

 

(d) “Fusion Common Shares” has the meaning given such term in the first whereas clause.

 

 

1

 

(e) “Non-Voting Shares” means shares of preferred stock of the Company having rights identical to those of the Series B-2 Preferred Stock but which do not have voting rights.

 

(f) “Rule” has the meaning given such term in the first whereas clause.

 

(g) “Shareholder” has the meaning given such term in the preamble.

 

(h) “Shares” shall mean all securities of Fusion (including all shares of Fusion Common Stock, preferred stock and all options, warrants and other rights to acquire shares of Fusion Common Stock or other equity securities of Fusion
with voting power) owned by the Shareholder and such other shares of capital stock of the Company over which the Shareholder has voting power.

 

(h) “Subject Shares” means those Shares in excess of 19.9% of the voting power of Fusion.

 

(i) “Transaction” has the meaning given such term in the first whereas clause.

 

(j) “Transfer” a person shall be deemed to have “Transferred” a security if such person directly or indirectly (i) sells, pledges, encumbers, grants an option with respect to, transfers or otherwise disposes of such security or any interest therein (including any voting interest),
or (ii) enters into an agreement or commitment providing for the sale of, pledge of, encumbrance of, grant of an option with respect to, transfer of or disposition of such security or any interest therein.

 

2. Transfer of Subject Shares.

 
             (a) No Transfer. The Shareholder hereby agrees that, at all times during the period commencing with the execution and delivery of this Agreement until the Expiration Date, the Shareholder shall not cause or permit any Transfer of the
Subject Shares to be effected, or discuss, negotiate or make any offer regarding any Transfer of any of the Subject Shares.

 
             (b) No Transfer of Voting Rights. The Shareholder hereby agrees that, at all times commencing with the execution and delivery of this Agreement until the Expiration Date, the Shareholder shall not deposit, or permit the deposit of, any
Subject Shares in a voting trust, grant any proxy in respect of the Subject Shares, or enter into any voting agreement or similar arrangement or commitment with respect to any of the Subject Shares (other than, in each case, as contemplated by this Agreement).

 

3. Agreement Not to Vote the Subject Shares/ Agreement to Vote other Shares. Until the Expiration Date, at every meeting of shareholders of the Company, and at every adjournment or postponement thereof, and on every action or approval by written consent of shareholders of the Company, the Shareholder shall not vote the
Subject Shares. In addition, prior to the Expiration Date, the Shareholder shall not enter into any agreement or understanding with any person to vote or give instructions with respect to the Subject Shares in any manner inconsistent with the terms of this Section 3. Notwithstanding the foregoing, at the shareholder meeting called by the Company to approve the Transaction, and at every adjournment or postponement thereof, Shareholder hereby agrees that it will vote all of its Shares, other the Subject Shares,
to approve the Transaction.

 

 

2

 

4. Limited Obligation to Convert Subject Shares into Non-Voting Shares. In the event that the Company does not obtain approval for the Transaction on or before November 5, 2016, Shareholder agrees to promptly exchange the Subject Shares for Non-Voting Shares.

 

5. Representations and Warranties of the Shareholder. The Shareholder hereby represents and warrants to Fusion that, as of the date hereof and at all times until the Expiration Date:

 

        (a) the Shareholder is (and will be) the beneficial owner of the Shares, with full and sole power to vote or direct the voting of all of the Shares, without restriction (except as contemplated by this Agreement);

 

        (b) the Shareholder has, with respect to all of the Shares (and will have) legal capacity and all requisite power and authority to make, enter into and perform the terms of this Agreement;

 

        (c) this Agreement has been duly and validly executed and delivered by the Shareholder;

 

       (d) the execution and delivery of this Agreement by Shareholder does not, and the consummation of the transactions contemplated hereby will not, conflict with or violate any material law or permit applicable to the Shareholder or result in any breach of, or constitute a material default (or an event that with notice or lapse of time
or both would become a material default) under, or materially impair the Shareholder's rights or alter the rights or obligations of any third party under, or give to others any rights of termination, amendment, acceleration or cancellation of, any contract applicable to the Shares; and

 

        (e) except as expressly contemplated hereby, the Shareholder is not a party to, and the Shares are not subject to or bound in any manner by, any contract or agreement relating to the Shares, including without limitation, any voting agreement, option agreement, purchase agreement, stockholders' agreement, partnership agreement
or voting trust.

 

         6. Legending of Shares. If so requested by Fusion, the Shareholder hereby agrees that the Subject Shares shall bear a legend stating that they are subject to this Agreement.

 

         7. Miscellaneous.

 
            (a) Waiver. No waiver by any party hereto of any condition or any breach of any term or provision set forth in this Agreement shall be effective unless in writing and signed by the other party. The waiver of any breach of any term or provision
of this Agreement shall not operate as, or be construed to be, a waiver of any other previous or subsequent breach of any term or provision of this Agreement.

 

            (b) Notices. All notices and other communications hereunder shall be in writing and shall be deemed duly given (i) on the date of delivery if delivered personally, or (ii) on the date of confirmation of receipt (or, the first business day following such receipt
if the date is not a business day) if delivered by a nationally recognized courier service. All notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice:

 

 

3

 

(i) if to Shareholder: Unterberg Koller Capital Fund L.P.

                                  Unterberg Technology Partners. L.P.

                                  445 Park Avenue, Room 921

                                  New York, New York 10022

                                  Attn:

                                  Telephone:

 

(ii) if to Fusion to: Fusion Telecommunications International, Inc.

                               420 Lexington Avenue, Suite 1718

                               New York, New York 10170

                               Attention: General Counsel

             Telephone No.: (212) 201-2425

 
              (c) Interpretation. When reference is made in this Agreement to a section or exhibit, such reference shall be to a section or exhibit of this Agreement, unless otherwise indicated. The headings contained in this Agreement are
for convenience of reference only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa. Any reference to any federal, state or local statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise.
Whenever the words "include," "includes" or "including" are used in this Agreement, they shall be deemed to be followed by the words "without limitation."

 

(d) Counterparts. This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party, it being understood that all parties need not sign the
same counterpart.

 

(e) Entire Agreement. This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. This Agreement may not be changed or modified, except
by an agreement in writing specifically referencing this Agreement and executed by each of the parties hereto.

 

(f) Severability. In the event that any provision of this Agreement or the application thereof, becomes or is declared by a court of competent jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and the application of such provision to other persons or circumstances
will be interpreted so as reasonably to effect the intent of the parties hereto. The parties further agree to replace such void or unenforceable provision with a valid and enforceable provision that will achieve, to the greatest extent possible, the economic, business and other purposes of such void or unenforceable provision.

 

 

4

 

(g) Specific Performance. The parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to seek an injunction or injunctions to
prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court of the United States or any state having jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity.

 

(h) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, regardless of the laws that might otherwise govern under applicable principles of conflicts of law thereof.

 

(i) Rules of Construction. The parties hereto agree that they have been represented by counsel during the negotiation and execution of this Agreement and, therefore, waive the application of any law, regulation, holding or rule of construction providing that ambiguities in an agreement or other document will be construed against
the party drafting such agreement or document.

 

(j) Binding Effect; Assignment. Neither party may assign this Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party. Any purported assignment in violation of this Section (j) shall be void. Subject to the preceding sentence, this Agreement shall be binding
upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns.

 

(k) Waiver of Jury Trial. EACH OF FUSION AND THE SHAREHOLDER IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF FUSION OR SHAREHOLDER IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE
AND ENFORCEMENT HEREOF.

 

 

 

[SIGNATURES APPEAR ON NEXT PAGE]

 

 

 

5

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be signed individually or by its respective duly authorized officer as of the date first written above.

 

	
 
	
 

FUSION TELECOMMUNICATIONS

INTERNATIONAL, INC.

 

 

                               By: /s/ Gordon Hutchins, Jr.

                               Name: Gordon Hutchins, Jr.

                               Title: President and Chief Operating Officer
 

	
 
	
 

	
 
	
 

UNTERBERG KOLLER CAPITAL FUND, L.P.

UNTERBERG TECHNOLOGY PARTNERS, L.P.

 

 

                               By: /s/ Thomas Unterberg

                               Name: Thomas Unterberg
 

	
 
	
 

	
 
	
 

 

 

 

 

 

6Exhibit
4.19

 

WARRANT
AGREEMENT

 

THIS WARRANT AGREEMENT
(this “Agreement”), dated as of [ ], 2016, is entered into by and between Cryoport, Inc., a Nevada corporation (the
“Company”), and Continental Stock Transfer & Trust Company, a New York corporation (the “Warrant Agent”).

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission a Registration Statement on Form S-4, No. 333-[ ], as may be amended from
time-to-time (the “Registration Statement”), for the registration, under the Securities Act of 1933, as amended (the
“Act”) of, among other securities, a certain number of Warrants and the Common Stock issuable upon exercise of such
Warrants;

 

WHEREAS, the Company
desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance,
registration, transfer, exchange and exercise of the Warrants;

 

WHEREAS, the Company
desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the
respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned
by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize
the execution and delivery of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1.          Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant
Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this
Agreement.

 

2.          Warrants.

 

2.1           Form
of Warrant. Each Warrant shall be (a) issued in registered form only, (b) in substantially the form of Exhibit A hereto,
the provisions of which are incorporated herein, and (c) signed by, or bear the facsimile signature of, the Chairman of the Board
or the President and the Treasurer or the Secretary of the Company. In the event the person whose facsimile signature has been
placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant
is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2           Effect
of Countersignature. Unless and until countersigned by the Warrant Agent pursuant to this Agreement, a Warrant shall be invalid
and of no effect and may not be exercised by the holder thereof.

 

    	 	 	 

     

    

 

2.3           Registration.

 

2.3.1           Warrant
Register. The Warrant Agent shall maintain books (the “Warrant Register”) for the registration of the original
issuance and transfers of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register the
Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered
to the Warrant Agent by the Company.

 

2.3.2           Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and
treat the person in whose name such Warrant shall be registered upon the Warrant Register (the “registered holder”),
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other
writing on the warrant certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise
thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

3.          Terms
and Exercise of Warrants.

 

3.1           Warrant
Price. Each Warrant shall, when countersigned by the Warrant Agent, entitle the registered holder thereof, subject to the provisions
of such Warrant, as the case may be, and of this Warrant Agreement, to purchase from the Company the number of shares of Common
Stock stated therein, at the price of $3.00 per whole share, subject to the adjustments provided in Section 4 hereof and in the
last sentence of this Section 3.1. The term “Warrant Price” as used in this Warrant Agreement refers to the price per
share at which Common Stock may be purchased at the time a Warrant is exercised. The Company, in its sole discretion, may by notice
to registered holders lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a specified period
of not less than 20 business days.

 

3.2           Duration
of Warrants. A Warrant may be exercised only during the period (“Exercise Period”) commencing on [ ], 2015 and
terminating at 5:00 p.m., New York City time on the earlier of (i) [ ], 2019, or (ii) the thirtieth (30th) day after
the date that the closing price of the Company’s common stock, as published by the Trading Market (as defined in Section
3.3.2) on which the Company’s common stock is then listed or quoted, equals or exceeds $4.50 for the tenth (10th)
consecutive trading day (the “Expiration Date”). Each Warrant not exercised on or before the Expiration Date shall
become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at the close of business
on the Expiration Date. The Company, in its sole discretion, may extend the duration of the Warrants by delaying the Expiration
Date; provided, however, that the Company shall provide notice to registered holders of the Warrants of such extension.

 

3.3           Exercise
of Warrants.

 

3.3.1           Payment.
Subject to the provisions of the Warrant and this Warrant Agreement, a Warrant, when countersigned by the Warrant Agent, may be
exercised by the registered holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor
as Warrant Agent, in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant,
duly executed, and by paying in full the Warrant Price for each full share of Common Stock as to which the Warrant is exercised
and any and all applicable taxes due in connection with the exercise of the Warrant, by certified check payable to the order of
the Warrant Agent.

 

    	 	 	 

     

    

 

3.3.2           Cashless
Exercise. If, and only if, at the time of exercise of the Warrants there is no effective registration statement registering,
or the prospectus contained therein is not available for, the issuance of the Common Stock to the Warrantholder (as defined in
the Warrant), then, and only then, the Warrants may at the option of the Warrantholder be exercised, in whole or in part, at such
time by means of a “cashless exercise” in which the Warrantholder shall be entitled to receive a number of shares of
Common Stock equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = the VWAP (defined below) on the trading day
immediately preceding the date on which the Warrantholder elects to exercise the Warrants by means of a “cashless exercise,”
as set forth in the applicable subscription form;

 

(B) = the Warrant Price of the Warrants, as adjusted
hereunder; and

 

(X) = the number of shares of Common Stock that would
be issuable upon exercise of the Warrants being exercised in accordance with the terms hereof if such exercise were by means of
a cash exercise rather than a cashless exercise.

 

“VWAP” means, for any date,
the price per share of Common Stock determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on the New York Stock Exchange, the American Stock Exchange, the NASDAQ National Market, the NASDAQ Capital Market
or the OTC Bulletin Board (each, a “Trading Market”), the daily volume weighted average price of the Common Stock for
such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported
by Bloomberg L.P. (“Bloomberg”) (based on a trading day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York
City time)), (b) if the Common Stock is not then listed or quoted for trading or quoted for trading on a Trading Market and if
prices for the Common Stock are then reported in the “Pink Sheets” published by Pink OTC Markets, Inc. (or a similar
organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock
so reported, or (c) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser
selected in good faith by the Board of Directors of the Company, the fees and expenses of which shall be paid by the Company.

 

    	 	 	 

     

    

 

3.3.3           Issuance
of Certificates. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the
Warrant Price, the Company shall issue to the registered holder of such Warrant a certificate or certificates representing the
number of full shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by
him, her or it, and, if such Warrant shall not have been exercised in full, a new countersigned Warrant for the number of shares
as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, the Company shall not be obligated to deliver
any securities pursuant to the exercise of a Warrant unless (a) a registration statement under the Act with respect to the Common
Stock issuable upon exercise of such Warrants is effective and a current prospectus relating to the shares of Common Stock issuable
upon exercise of the Warrants is available for delivery to the Warrant holders or (b) in the opinion of counsel to the Company,
the exercise of the Warrants is exempt from the registration requirements of the Act and such securities are qualified for sale
or exempt from qualification under applicable securities laws of the states or other jurisdictions in which the registered holder
resides. Warrants may not be exercised by, or securities issued to, any registered holder in any state in which such exercise or
issuance would be unlawful. In the event that a registration statement under the Act with respect to the Common Stock underlying
the Warrants is not effective or a current prospectus is not available, or because such exercise would be unlawful with respect
to a registered holder in any state, the registered holder shall not be entitled to exercise such Warrants and such Warrants may
have no value and expire worthless. In no event will the Company be required to “net cash settle” the warrant exercise.

 

3.3.4           Valid
Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall be
validly issued, fully paid and nonassessable.

 

3.3.5           Date
of Issuance. Each person in whose name any such certificate for shares of Common Stock is issued shall for all purposes be
deemed to have become the holder of record of such shares on the date on which the Warrant was surrendered and payment of the Warrant
Price was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and payment
is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder of such
shares at the close of business on the next succeeding date on which the stock transfer books are open.

 

4.          Adjustments.

 

4.1           Stock
Dividends - Split-Ups. If, after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding
shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of shares of Common
Stock, or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares
of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of
Common Stock.

 

4.2           Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 4.6, the number of outstanding shares of Common
Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock or other
similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar
event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to such decrease
in outstanding shares of Common Stock.

 

4.3           Adjustments
in Exercise Price. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted,
as provided in Sections 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant
Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock
purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the
number of shares of Common Stock so purchasable immediately thereafter.

 

    	 	 	 

     

    

 

4.4           Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common
Stock (other than a change covered by Section 4.1 or 4.2 hereof or one that solely affects the par value of such shares of Common
Stock), or, in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation
or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization
of the outstanding shares of Common Stock), or, in the case of any sale or conveyance to another corporation or entity of the assets
or other property of the Company as an entirety or substantially as an entirety, in connection with which the Company is dissolved,
the Warrant holders shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified
in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon
the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such
sale or transfer, that the Warrant holder would have received if such Warrant holder had exercised his, her or its Warrant(s) immediately
prior to such event; and if any reclassification also results in a change in shares of Common Stock covered by Section 4.1 or 4.2,
then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3 and this Section 4.4. The provisions of this Section 4.4
shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers.

 

4.5           Notices
of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such
adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant,
setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence
of any event specified in Sections 4.1, 4.2, 4.3 or 4.4, then, in any such event, the Company shall give written notice to each
Warrant holder, at the last address set forth for such holder in the Warrant Register, of the record date or the effective date
of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

4.6           No
Fractional Shares. Notwithstanding any provision contained in this Warrant Agreement to the contrary, the Company shall not
issue fractional shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder
of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall,
upon such exercise, round up or down to the nearest whole number the number of shares of Common Stock to be issued to the Warrant
holder.

 

4.7           Form
of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued
after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued
pursuant to this Agreement. However, the Company may, at any time, in its sole discretion, make any change in the form of Warrant
that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned,
whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

    	 	 	 

     

    

 

5.          Transfer
and Exchange of Warrants.

 

5.1           Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant in the Warrant Register,
upon surrender of such Warrant for transfer, properly endorsed with signatures properly medallion guaranteed and accompanied by
appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants
shall be issued and the old Warrant shall be cancelled by the Warrant Agent. The Warrants so cancelled may be delivered by the
Warrant Agent to the Company from time to time upon request.

 

5.2           Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange or
transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the registered
holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that in the event
that a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and issue new
Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer
is exempt from registration under the Federal Securities Act of 1933, as amended and indicating whether the new Warrants must also
bear a restrictive legend.

 

5.3           Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the
issuance of a warrant certificate for a fraction of a warrant.

 

5.4           Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5           Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the
terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever
required by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

6.          Other
Provisions Relating to Rights of Holders of Warrants.

 

6.1           No
Rights as Stockholder. A Warrant does not entitle the registered holder thereof to any of the rights of a stockholder of the
Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights
to vote or to consent or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors
of the Company or any other matter.

 

    	 	 	 

     

    

 

6.2           Lost,
Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated or destroyed, the Company and the Warrant
Agent may, on such terms as to indemnity or otherwise as they may in their discretion impose (which terms shall, in the case of
a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor and date as the Warrant so
lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company,
whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone.

 

6.3           Reservation
of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of
Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

6.4           Registration
of Common Stock. The Company will use its best efforts to maintain the effectiveness of a registration statement registering
the Common Stock issuable upon the exercise of the Warrant and/or a registration statement registering the resale of the Common
Stock issuable upon the exercise of the Warrant, as applicable, and ensure that a prospectus is available for delivery to the Warrant
holders until the expiration of the Warrants in accordance with the provisions of this Agreement. Except as provided in Section
3.3.2, the Warrants shall not be exercisable and the Company shall not be obligated to issue Common Stock unless, at the time a
holder seeks to exercise Warrants, a prospectus related to the Common Stock issuable upon exercise of the Warrants is current and
the Common Stock has been registered or qualified under the laws of the state of residence of the holder of the Warrants or unless
the issuance of the Common Stock is deemed to be exempt from such requirements. In addition, the Company agrees to use its best
efforts to register the issuance and/or the resale of such securities under the blue sky laws of the states of residence of exercising
Warrant holders, if permitted by the blue sky laws of such jurisdictions, in the event that an exemption is not available.

 

6.5           Limitation
on Monetary Damages. In no event shall the registered holder of a Warrant be entitled to receive monetary damages for failure
to settle any Warrant exercise if the Common Stock issuable upon exercise of the Warrants has not been registered with the Securities
and Exchange Commission pursuant to an effective registration statement or if a current prospectus is not available for delivery
by the Warrant Agent, provided the Company has fulfilled its obligations under Section 6.4 to use its best efforts to effect the
registration under the Act of the Common Stock issuable upon exercise of the Warrants.

 

7.          Concerning
the Warrant Agent and Other Matters.

 

7.1           Payment
of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the
Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall
not be obligated to pay any transfer taxes in respect of the Warrants or such shares.

 

    	 	 	 

     

    

 

7.2           Resignation,
Consolidation, or Merger of Warrant Agent.

 

7.2.1           Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the
office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of
30 days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant
(who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the holder of any Warrant may
apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent
at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation
organized and existing under the laws of the State of New York, in good standing and having its principal office in the Borough
of Manhattan, City and State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision
or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority,
powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as
Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor
Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent
all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent
the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting
in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

 

7.2.2           Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof
to the predecessor Warrant Agent and the transfer agent for the Common Stock not later than the effective date of any such appointment.

 

7.2.3           Merger
or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor
Warrant Agent under this Agreement without any further act.

 

7.3           Fees
and Expenses of Warrant Agent.

 

7.3.1           Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and will reimburse
the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

7.3.2           Further
Assurances. The Company agrees to perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged
and delivered all such further and other acts, instruments and assurances as may reasonably be required by the Warrant Agent for
the carrying out or performing of the provisions of this Agreement.

 

    	 	 	 

     

    

 

7.4           Liability
of Warrant Agent.

 

7.4.1           Reliance
on Company Statement. Whenever in the performance of its duties under this Warrant Agreement the Warrant Agent shall deem it
necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action
hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be
conclusively proved and established by a statement signed by the President or Chairman of the Board of the Company and delivered
to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant
to the provisions of this Agreement.

 

7.4.2           Indemnity.
The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees
to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable
counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a result of the Warrant
Agent’s gross negligence, willful misconduct or bad faith.

 

7.4.3           Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or
execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any
covenant or condition contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required
under the provisions of Section 4 hereof or responsible for the manner, method or amount of any such adjustment or the ascertaining
of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any
Warrant or as to whether any shares of Common Stock will when issued be valid and fully paid and nonassessable.

 

7.5           Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the
terms and conditions herein set forth and, among other things, shall account promptly to the Company with respect to Warrants exercised
and concurrently account for, and pay to the Company, all moneys received by the Warrant Agent for the purchase of shares of Common
Stock through the exercise of Warrants.

 

8.          Miscellaneous
Provisions.

 

8.1           Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure
to the benefit of their respective successors and assigns.

 

8.2           Notices.
Any notice, statement or demand authorized by this Warrant Agreement to be given or made by the Warrant Agent or by the holder
of any Warrant to or on the Company shall be delivered by hand or sent by registered or certified mail or overnight courier service,
addressed (until another address is filed in writing by the Company with the Warrant Agent) as follows:

 

Cryoport, Inc.

17305 Daimler St.

Irvine, CA 92614

Attn: Robert Stefanovich, Chief Financial Officer

 

    	 	 	 

     

    

 

Any notice, statement or demand authorized
by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be delivered
by hand or sent by registered or certified mail or overnight courier service, addressed (until another address is filed in writing
by the Company with the Warrant Agent) as follows:

 

Continental Stock Transfer & Trust Company

17 Battery Place

New York, New York 10004

Attn:Compliance Department

 

with a copy in each case to:

 

Snell & Wilmer, L.L.P.

600 Anton Boulevard

Suite 1400

Costa Mesa, California 92626

Attn:Anthony J. Ippolito, Esq.

 

Any notice, sent pursuant to this Warrant
Agreement shall be effective, if delivered by hand, upon receipt thereof by the party to whom it is addressed, if sent by overnight
courier, on the next business day of the delivery to the courier, and if sent by registered or certified mail on the third day
after registration or certification thereof.

 

8.3           Applicable
Law. The validity, interpretation and performance of this Agreement and of the Warrants shall be governed in all respects by
the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of
the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising
out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United
States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall
be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or
certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 8.2 hereof. Such
mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

8.4           Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto
and the registered holders of the Warrants, any right, remedy, or claim under or by reason of this Warrant Agreement or of any
covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements
contained in this Warrant Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors and
assigns and of the registered holders of the Warrants.

 

    	 	 	 

     

    

 

8.5           Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant
Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant
Agent may require any such holder to submit his, her or its Warrant for inspection by it.

 

8.6           Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

8.7           Effect
of Headings. The section headings herein are for convenience only and are not part of this Warrant Agreement and shall not
affect the interpretation thereof.

 

8.8           Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any
ambiguity, or curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions
with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties
deem shall not adversely affect the interest of the registered holders. All other modifications or amendments, including any amendment
to increase the Warrant Price or shorten the Exercise Period, shall require the written consent of the registered holders of a
majority of the then outstanding Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the
duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the registered holders.

 

8.9           Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

[Signature page follows]

 

    	 	 	 

     

    

 

IN WITNESS WHEREOF,
this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	CRYOPORT, INC.
	 	 
	 	By:	 
	 	Name: Robert Stefanovich
	 	Title: Chief Financial Officer
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 
	 	By:	 
	 	Name: Michael Mullings
	 	Title: Vice President and Director of Restricted Transactions

 

[SIGNATURE PAGE TO WARRANT AGREEMENT]

  

    	 	 	 

     

    

 

Exhibit
A

 

	No.
    __________	__________ B WARRANTS

 

THIS WARRANT
CERTIFICATE WILL BE VOID IF NOT EXERCISED PRIOR

 

TO 5:00
P.M. NEW YORK CITY TIME ON THE EXPIRATION DATE

 

CRYOPORT,
INC.

 

A WARRANT
CERTIFICATE

 

THIS CERTIFIES THAT, for value received,
[_______________] (“Warrantholder”) is the registered holder of [_______] Warrants (the “Warrant”
or “Warrants”) to purchase fully paid and non-assessable shares of common stock, par value $0.001 per
share (the “Share” or “Shares”), of CRYOPORT, INC., a Nevada corporation
(the “Company”).

 

This Warrant Certificate is issued under
and in accordance with the Warrant Agreement, dated as of [ ], 2016 (the “Warrant Agreement”), between
the Company and Continental Stock Transfer & Trust Company, a New York corporation (the “Warrant Agent”),
and is subject to the terms and provisions contained in the Warrant Agreement, to all of which terms and provisions the holder
of this Warrant Certificate and the beneficial owners of the Warrants represented by this Warrant Certificate consent by acceptance
hereof.  In the case of any conflict between this Certificate and the Warrant Agreement, the provisions of the Warrant Agreement
shall control and govern.

 

1.          Terms
and Exercise of A Warrants.

 

(a)          Warrant
Price. Each Warrant shall entitle the registered holder thereof, subject to the provisions of such Warrant, to purchase from
the Company one share of Common Stock at the price of $3.00 per whole share, subject to the adjustments provided in Section
2 hereof and in the last sentence of this Section 1(a). The term “Warrant Price” as used in this
Agreement refers to the price per share at which Common Stock may be purchased at the time the Warrants are exercised. The Company,
in its sole discretion, may by notice to registered holders lower the Warrant Price at any time prior to the Expiration Date (as
defined below) for a specified period.

 

(b)          Duration
of Warrants. The Warrants may be exercised only during the period (“Exercise Period”) commencing
on the date of issuance and terminating at 5:00 p.m., New York City time, on the Expiration Date. For purposes of this Agreement,
the “Expiration Date” shall mean the earlier of (i) [ ], 2019, or (ii) the thirtieth (30th) day after
the date that the closing price of the Company’s common stock, as published by the Trading Market (as defined in Section
1(c)(ii) on which the Company’s common stock is then listed or quoted, equals or exceeds $4.50 for the tenth (10th) consecutive
trading day. Each Warrant not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights
in respect thereof shall cease at the close of business on the Expiration Date. The Company, in its sole discretion, may extend
the duration of the Warrants by delaying the Expiration Date; provided, however, that the Company shall provide notice to registered
holders of the Warrants of such extension.

 

    	 	 	 

     

    

 

(c)          Exercise
of Warrants.

 

(i)          Payment.
Subject to the provisions of the Warrants, the Warrants may be exercised by the registered holder thereof by surrendering it, at
the office of the Warrant Agent, or at the office of its successor as Warrant Agent, in the Borough of Manhattan, City and State
of New York, with the subscription form, as set forth herein, duly executed and, except where otherwise permitted in accordance
with Section 1(c)(ii), by paying in full the Warrant Price for each full share of Common Stock as to which the Warrant is exercised
and any and all applicable taxes due in connection with the exercise of the Warrant, by certified check payable to the order of
the Warrant Agent.

 

(ii)         Cashless
Exercise. If, and only if, at the time of exercise of the Warrants there is no effective registration statement registering,
or the prospectus contained therein is not available for, the issuance of the Common Stock to the Warrantholder, then, and only
then, the Warrants may at the option of the Warrantholder be exercised, in whole or in part, at such time by means of a “cashless
exercise” in which the Warrantholder shall be entitled to receive a number of shares of Common Stock equal to the quotient
obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = the VWAP (defined below) on the trading day
immediately preceding the date on which the Warrantholder elects to exercise the Warrants by means of a “cashless exercise,”
as set forth in the applicable subscription form;

 

(B) = the Warrant Price of the Warrants, as adjusted
hereunder; and

 

(X) = the number of shares of Common Stock that would
be issuable upon exercise of the Warrants being exercised in accordance with the terms hereof if such exercise were by means of
a cash exercise rather than a cashless exercise.

 

“VWAP” means,
for any date, the price per share of Common Stock determined by the first of the following clauses that applies: (a) if the Common
Stock is then listed or quoted on the New York Stock Exchange, the American Stock Exchange, the NASDAQ National Market, the NASDAQ
Capital Market or the OTC Bulletin Board (each, a “Trading Market”), the daily volume weighted average
price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then
listed or quoted as reported by Bloomberg L.P. (“Bloomberg”) (based on a trading day from 9:30 a.m. (New
York City time) to 4:02 p.m. (New York City time)), (b) if the Common Stock is not then listed or quoted for trading or quoted
for trading on a Trading Market and if prices for the Common Stock are then reported in the “Pink Sheets” published
by Pink OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent
bid price per share of the Common Stock so reported, or (c) in all other cases, the fair market value of a share of Common Stock
as determined by an independent appraiser selected in good faith by the Board of Directors of the Company, the fees and expenses
of which shall be paid by the Company.

 

    	 	 	 

     

    

 

(iii)        Issuance
of Certificates. As soon as practicable after the exercise of any Warrants and the clearance of the funds in payment of the
Warrant Price, the Company shall issue to the registered holder of such Warrants a certificate or certificates representing the
number of shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him,
her or it, and, if such Warrants shall not have been exercised or surrendered in full, a new countersigned Warrant Certificate
for the number of shares as to which such Warrants shall not have been exercised or surrendered. Notwithstanding the foregoing,
the Company shall not be obligated to deliver any securities pursuant to the exercise of Warrants unless (a) a registration statement
under the Securities Act of 1933, as amended (the “Act”) with respect to the Common Stock issuable upon
exercise of the Warrants is effective and a current prospectus relating to the shares of Common Stock issuable upon exercise of
the Warrants is available for delivery to the Warrant holders, or (b) the exercise of the Warrants is exempt from the registration
requirements of the Act and such securities are qualified for sale or exempt from qualification under applicable securities laws
of the state or other jurisdiction in which the registered holder resides. Warrants may not be exercised by, or securities issued
to, any registered holder in any state in which such exercise or issuance would be unlawful. In the event a registration statement
under the Act with respect to the Common Stock underlying the Warrants is not effective or a prospectus is not available, or because
such exercise would be unlawful with respect to a registered holder in any state, the registered holder shall not be entitled to
exercise such Warrants and such Warrants may have no value and expire worthless. In no event will the Company be obligated to pay
such registered holder any cash consideration upon exercise (except pursuant to Section 2(d)). The Company’s counsel
shall deliver any legal opinions required by the Warrant Agent in connection with the exercise of the Warrants at no cost to the
Warrantholder.

 

(iv)        Valid
Issuance. All shares of Common Stock issued upon the proper exercise or surrender of the Warrants in conformity with this Agreement
shall be validly issued, fully paid and nonassessable.

 

(v)         Date
of Issuance. Each person or entity in whose name any such certificate for shares of Common Stock is issued shall, for all purposes,
be deemed to have become the holder of record of such shares on the date on which the Warrants were surrendered and payment of
the Warrant Price was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender
and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder
of such shares at the close of business on the next succeeding date on which the stock transfer books are open.

 

    	 	 	 

     

    

 

(vi)        Exercise
Limitation. Notwithstanding any provisions herein to the contrary, the Warrantholder shall not be entitled to exercise the
Warrants for a number of shares of Common Stock in excess of that number of shares of Common Stock which, upon giving effect to
such exercise, would cause the aggregate number of shares of Common Stock beneficially owned by such Warrantholder to exceed 9.99%
of the outstanding shares of Common Stock following such exercise. For purposes of the foregoing proviso, the aggregate number
of shares of Common Stock beneficially owned by the Warrantholder shall include the number of shares of Common Stock issuable upon
exercise of this Warrant with respect to which determination of such proviso is being made, but shall exclude the shares of Common
Stock which would be issuable upon (i) exercise of the remaining, unexercised Warrants beneficially owned by the Warrantholder
and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned
by the Warrantholder subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as
set forth in the preceding sentence, for purposes of this Section 1(c)(vi), beneficial ownership shall be calculated in
accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended. The Warrantholder may waive the foregoing limitation
by written notice to the Company upon not less than 61 days prior written notice (such waiver taking effect only upon the expiration
of such 61 day notice period and applying only to the Warrantholder and not to any other holder of Warrants). For purposes of this
Section 1(c)(vi), in determining the number of outstanding shares of Common Stock, the Warrantholder may rely on the number
of outstanding shares of Common Stock as reflected in (1) the Company’s most recent Form 10-Q or Form 10-K, as the case may
be, filed with the Securities and Exchange Commission on the date thereof, (2) a more recent public announcement by the Company
as to the number of shares of Common Stock outstanding, or (3) any other notice by the Company or its transfer agent setting forth
the number of shares of Common Stock outstanding. Upon the written request of the Warrantholder, the Company shall within three
trading days confirm in writing or by electronic mail to the Warrantholder 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 the Warrants, by the Warrantholder since the date as of which such number of outstanding
shares of Common Stock was reported.

 

2.          Adjustments.

 

(a)          Stock
Dividends; Stock Splits. If, after the date hereof, and subject to the provisions of Section 2(f) below, the number
of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split of shares
of Common Stock, or other similar event, then, on the effective date of such stock dividend, stock split or similar event, the
number of shares of Common Stock issuable on exercise of the Warrants shall be increased in proportion to such increase in outstanding
shares of Common Stock.

 

(b)          Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 2(f) below, the number of outstanding
shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common
Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification
or similar event, the number of shares of Common Stock issuable on exercise of the Warrants shall be decreased in proportion to
such decrease in outstanding shares of Common Stock.

 

(c)          Adjustments
in Warrant Price. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted,
as provided in Sections 2(a) and 2(b), the Warrant Price shall be adjusted (to the nearest cent) by multiplying such
Warrant Price, immediately prior to such adjustment, by a fraction, (i) the numerator of which shall be the number of shares of
Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (ii) the denominator of which
shall be the number of shares of Common Stock so purchasable immediately thereafter.

 

    	 	 	 

     

    

 

(d)          Replacement
of Securities upon Reorganization, Etc. In case of any reclassification or reorganization of the outstanding shares of Common
Stock (other than a change covered by Sections 2(a) or 2(b) hereof or one that solely affects the par value of such
shares of Common Stock), or, in the case of any merger or consolidation of the Company with or into another corporation (other
than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification
or reorganization of the outstanding shares of Common Stock), or, in the case of any sale or conveyance to another corporation
or entity of the assets or other property of the Company as an entirety or substantially as an entirety, in connection with which
the Company is dissolved, the Warrants shall thereafter represent the right to purchase and receive, upon the basis and upon the
terms and conditions specified in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore
purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other
securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon
a dissolution following any such sale or transfer, that the Warrants holder would have received if such Warrants holder had exercised
his, her or its Warrants immediately prior to such event; and if any reclassification also results in a change in shares of Common
Stock covered by Sections 2(a) or 2(b), then such adjustment shall be made pursuant to Sections 2(a), 2(b),
2(c) and this Section 2(d). The provisions of this Section 2 shall similarly apply to successive reclassifications,
reorganizations, mergers or consolidations, sales or other transfers.

 

(e)          Notices
of Changes in Warrants. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of the Warrants,
the Company shall give written notice thereof to each registered holder, which notice shall state the Warrant Price resulting from
such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of the
Warrants, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon
the occurrence of any event specified in Sections 2(a), or 2(b) the Company shall give written notice to each Warrants
holder, at the last address set forth for such holder in the Warrants register, of the record date or the effective date of the
event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

(f)          Form
of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 2, and Warrants
issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially
issued pursuant to this Agreement. However, the Company may, at any time, in its sole discretion, make any change in the form of
Warrants that the Company may deem appropriate and that does not affect the rights of holders thereof, and any Warrants thereafter
issued or countersigned, whether in exchange or substitution for outstanding Warrants or otherwise, may be in the form as so changed.

 

3.          Transfer
and Exchange of Warrants.

 

(a)          Registration
of Transfer. The Company shall register the transfer, from time to time, of any outstanding Warrants into the Warrant register,
upon surrender of such Warrants for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate
instructions for transfer. Upon any such transfer, new Warrants representing an equal aggregate number of Warrants shall be issued
and the old Warrants shall be cancelled by the Company.

 

    	 	 	 

     

    

 

(b)          Procedure
for Surrender of Warrants. Warrants may be surrendered to the Company, together with a written request for exchange or transfer,
and, thereupon, the Company shall issue in exchange therefor one or more new Warrants as requested by the registered holder of
the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that, in the event the Warrants
surrendered for transfer bear a restrictive legend, the Company shall not cancel such Warrants and issue new Warrants in exchange
therefor until the Company has received an opinion of counsel for the Company stating that such transfer may be made and indicating
whether the new Warrants must also bear a restrictive legend.

 

(c)          Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

4.          Other
Provisions Relating to Rights of Holders of Warrants.

 

(a)          No
Rights as Stockholder. The Warrants do not entitle the registered holder thereof to any of the rights of a stockholder of the
Company, including, without limitation, the right to receive dividends or other distributions, to exercise any preemptive rights,
or to vote, consent or receive notice as stockholders in respect of the meetings of stockholders or the election of directors of
the Company or any other matter.

 

(b)          Lost,
Stolen, Mutilated or Destroyed Warrant Certificates. If any Warrant Certificate is lost, stolen, mutilated or destroyed, the
Company may, on such terms as to indemnity or otherwise as it may in its discretion impose (which terms shall, in the case of a
mutilated Warrant Certificate, include the surrender thereof), issue a new Warrant Certificate of like denomination, tenor and
date as the Warrant Certificate so lost, stolen, mutilated or destroyed. Any such new Warrant Certificate shall constitute a substitute
contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant Certificate shall
be at any time enforceable by anyone.

 

(c)          Reservation
of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of
Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

(d)          Notices.
Any notice, statement or demand authorized by this Certificate to be given or made by the Company or by the holder of the Warrants
to or on the Company shall be delivered by hand or sent by registered or certified mail or overnight courier service, addressed
(until another address is provided in writing by the Company) as follows:

 

Cryoport, Inc.

17305 Daimler St.

Irvine, CA 92614

Attn: Chief Financial Officer

 

Any notice, sent pursuant to this Certificate
shall be effective, if delivered by hand, upon receipt thereof by the party to whom it is addressed, if sent by overnight courier,
on the next business day of the delivery to the courier, and if sent by registered or certified mail on the third day after registration
or certification thereof.

 

    	 	 	 

     

    

 

(e)          Applicable
Law. The validity, interpretation, and performance of this Certificate and of the Warrants shall be governed in all respects
by the laws of the State of Nevada, without giving effect to any conflict of laws principles. The Company hereby agrees that any
action, proceeding or claim against it arising out of or relating in any way to this Certificate and to the Warrants shall be brought
and enforced in the courts of the State of Nevada or the United States District Court for the District of Nevada, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be served upon the Company may
be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed
to it at the address set forth in Section 5(d) hereof. Such mailing shall be deemed personal service and shall be legal and binding
upon the Company in any action, proceeding or claim.

 

	CRYOPORT, INC.	 
	 	 
	By:	 	 
	 	Robert Stefanovich, Chief Financial Officer	 

 

    	 	 	 

     

    

 

CRYOPORT,
INC.

 

SUBSCRIPTION
FORM

 

(To Be Executed by the Warrantholder in
Order to Exercise Warrants)

 

The undersigned Warrantholder hereby irrevocably
elects to exercise __________ Warrants represented by this Warrant Certificate, and to purchase the shares of Common Stock issuable
upon the exercise of such Warrants. Payment shall take the form of (check applicable box):

 

 ̈
in lawful money of the United States by certified check made payable to the Company or by wire transfer of immediately available
funds to an account designated by the Company; or

 

 ̈
if permitted by the terms of the Warrant Certificate, the cancellation of such number of shares of Common Stock as is necessary,
in accordance with the formula set forth in Section 1(c)(ii), to exercise the Warrants with respect to the maximum number of shares
of Common Stock purchasable pursuant to the cashless exercise procedure set forth in Section 1(c)(ii).

 

The undersigned Warrantholder requests
that certificates for such shares shall be issued in the name of:

  

	Name:	 	 
	 	 	 
	Address:	 	 
	 	 	 
	 	 	 
	 	 	 
	Tax Identification Number:	 	 
	 	 	 
	and be delivered to:	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Address:	 	 

 

and, if the number of Warrants shall not
be all the Warrants evidenced by this Warrant Certificate, that a new Warrant Certificate for the balance of such Warrants be registered
in the name of, and delivered to, the Warrantholder at the address stated below.

 

	Date: ____________	Signature: 	 	 
	 	 	 	 
	 	Address:	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Tax Identification Number	 

 

    	 	 	 

     

    

 

Signature Guaranteed:

 

	 	 

 

THE SIGNATURE TO THIS WARRANT EXERCISE
FORM MUST CORRESPOND TO THE NAME WRITTEN UPON THE FACE OF THIS WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT
OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A COMMERCIAL BANK OR TRUST COMPANY OR A MEMBER FIRM OF THE AMERICAN STOCK EXCHANGE,
NEW YORK STOCK EXCHANGE, PACIFIC STOCK EXCHANGE OR CHICAGO STOCK EXCHANGE.

 

    	 	 	 

     

    

 

CRYOPORT,
INC.

 

ASSIGNMENT

 

(To Be Executed by the Warrantholder in
Order to Assign Warrants)

 

For Value Received, ____________________
hereby sells, assigns and transfers unto:

 

	Name:	 	 
	 	 	 
	Address:	 	 
	 	 	 
	 	 	 
	 	 	 
	Tax Identification Number:	 	 

 

_________ of the Warrants represented by
this Warrant Certificate, and hereby irrevocably constitutes and appoints ____________________ Attorney to transfer this Warrant
Certificate on the books of the Company, with full substitution in the premises.

 

	Dated: _____________	Signature: 	 	 

 

Signature Guaranteed:

 

	 	 

 

THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND
TO THE NAME WRITTEN UPON THE FACE OF THIS WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
WHATSOEVER, AND MUST BE GUARANTEED BY A COMMERCIAL BANK OR TRUST COMPANY OR A MEMBER FIRM OF THE AMERICAN STOCK EXCHANGE, NEW YORK
STOCK EXCHANGE, PACIFIC STOCK EXCHANGE OR CHICAGO STOCK EXCHANGE.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}]]