Document:

a102commercialtermnote20

                                                   COMMERCIAL NOTE                                                                                                                                              Lafayette, Louisiana  $10,000,000.00                                                                        May 1, 2020    For value received, the undersigned maker(s) (hereinafter referred to as "Borrower", which term means individually, collectively,  and interchangeably any, each and/or all of them), jointly, severally, and solidarily, promises to pay to the order of HANCOCK   WHITNEY BANK ("Bank"), a Mississippi state chartered bank, with an office located at 1301 Camellia Blvd., Suite 100, Lafayette,  LA 70508, the sum of TEN MILLION AND NO/100s DOLLARS ($10,000,000.00), together with interest thereon, in accordance  with the terms set forth in this Commercial Note ("Note").     REPAYMENT:      Single principal, periodic interest.  Principal shall be due and payable in a single payment due on May 1, 2023 (the “Maturity  Date”).  Accrued interest shall be due and payable in consecutive payments beginning June 1, 2020, and on the same day in each  month thereafter until the Maturity Date, on which date any unpaid accrued interest shall be due and payable in full.     Unless sooner declared due and payable in accordance with the provisions of this Note, on the Maturity Date, all outstanding  principal, interest, fees, costs and expenses owing by Borrower to Bank shall be due and payable in full without notice or demand.   Provided no other agreement between the Borrower and Bank expressly imposes a prepayment penalty, Borrower may prepay  without penalty any principal on this Note in whole or in part and any prepayments made on this Note shall be applied to the  principal payment(s) due on this Note in the inverse order of their maturity.    INTEREST:    Wall Street Journal Prime Rate The interest rate on this Note is subject to change from time to time based on changes in an  independent index which is the Prime Rate for the U.S. as published in the “Money Rates” section of the Wall Street Journal (the  “Index”).  In the event the Prime Rate is published as a range of rates, the highest rate in the quoted range shall be the Index.  Interest  on the unpaid balance of this Note shall accrue at a variable rate equal to the Index less a margin of .50%, floating daily.  The rate  of interest on this Note will change when and as the Index changes.   Interest rate changes on this Note will not occur more often  than once each day. The Index is not necessarily the lowest rate charged by Bank for any particular class of borrowers or credit  extensions.  Borrower understands that Bank may make loans based on other rates as well. If the Index becomes unavailable during  the term of this Note, Bank may designate a substitute index by notice to Borrower.  Borrower may obtain the current Index from  Bank upon Borrower’s request.  Bank’s determination of the Index shall be conclusive absent demonstrable error.    Floor Rate.  Notwithstanding the foregoing, at no time shall the interest rate on this Note as calculated pursuant to the previous  paragraph be less than three and one-half percent (3.50%) per annum, regardless of any changes to the Index that might otherwise  lead to a lower rate.    Default Rate.  After maturity, whether that maturity results from acceleration or otherwise, interest shall, to the extent permitted by  applicable law,  accrue at  the  Default  Rate.  Additionally, upon  the occurrence of any Event of Default hereunder other than a  delinquent payment (and from and after the date of such occurrence), interest shall, to the extent permitted by applicable law, accrue  at the Default Rate.  The Default Rate shall be the maximum rate authorized by applicable law, and if applicable law establishes no  maximum rate, then eighteen percent (18.0%) per annum.    All interest shall be computed on the basis of the actual number of days elapsed over a year composed of 360 days.  Interest shall  accrue from the first date that funds are advanced to Borrower until all sums due hereunder are paid in full.    Notwithstanding the foregoing, under no circumstances will the effective rate of interest on this Note exceed the maximum rate  permissible under applicable law. To the extent federal law permits to contract for, charge or receive a greater amount of interest,  Bank reserves the right to rely on federal law for the purpose of determining the maximum rate. It is the intention of Borrower and  Bank to conform strictly to any applicable usury laws. The aggregate of all consideration which constitutes interest under applicable  law that is contracted for, charged or received under this Note shall under no circumstances exceed the maximum amount of interest  allowed by applicable law, and any excess shall be credited to the principal balance on this Note or, if this Note shall have been paid  in full, refunded to Borrower.    All payments to be made by the Borrower to Bank under or pursuant to this Note shall be in immediately available United States  currency, without setoff or counterclaim, and in the event that any payments submitted hereunder are in funds not available until  collected, said payments shall continue to bear interest until collected.    LATE PAYMENT AND NSF CHARGES: In the event any installment payment of principal and/or interest is more than ten (10)  days past due, Borrower promises to pay,  in addition to the amount otherwise due hereunder, a delinquency charge of 5.00% of the  unpaid portion of the regularly schedule payment, but not more than $1,000.00.  In the event that any payment under this Note by  check or preauthorized charge is later dishonored or returned to Bank unpaid due to insufficient funds, Borrower agrees to pay Bank  an additional NSF check charge equal to $25.00.      LINE OF CREDIT: This Note evidences a line of credit under the terms of which the Borrower may borrow, repay and reborrow  hereunder, and advances hereunder shall be subject to that certain Loan Agreement dated February 21, 2018, between Bank and  Borrower, the terms and conditions of which, as the same may be amended from time to time, are incorporated herein by reference  and are a part of the terms and conditions of this Note.    Advances may be made by Bank upon the written, telephonic or facsimile request of Borrower, and Bank is authorized to rely  conclusively  upon  such  requests  when  received  from  a  person  purporting  to  be  Borrower  or  Borrower’s  authorized  officer  or  representative.  Borrower covenants and agrees to furnish to Bank written confirmation of any non-written request for an advance  within five (5) days of the resulting loan or advance, but any such loan or advance shall be deemed to be made under and entitled to  the benefits of this Note irrespective of any failure by Borrower to furnish such written confirmation.      The unpaid principal balance of this Note at any time shall be the total amounts loaned or advanced hereunder by Bank, less the  amount of payments or prepayments of principal made hereon by or for the account of Borrower.  It is contemplated that by reason  of prepayments there may be times when no indebtedness is owing hereunder; but notwithstanding such occurrences, this Note and  any agreements and instruments securing the same shall remain valid and shall be in full force and effect as to loans or advances  made pursuant to and under the terms of this Note subsequent to each occurrence.  In the event that the unpaid principal amount  {N2549732.2}  Initial ___CH_____     70423.6LA (May 2018) 

 

hereof at any time, for any reason, exceeds the maximum amount hereinabove specified, Borrower promises and agrees to pay the  excess principal amount promptly upon demand; such excess principal amount shall in all respects be deemed to be included among  the loans or advances made pursuant to the other terms of this Note, shall bear interest at the rate or rates stated herein, and shall be  fully secured by all collateral.    BALANCE OWING:  The amount from time to time outstanding under this Note and each payment on this Note shall be evidenced  by entries in Bank’s internal records, which shall be conclusive evidence absent manifest error of (a) the amount of principal and  interest owing on this Note from time to time; (b) the amount of each advance made to Borrower under this Note; and (c) the amount  of each principal and/or interest payment received by Bank on this Note.  The failure of Bank to make an accurate entry of advances  and payments shall not limit or otherwise affect the obligation of Borrower to repay funds actually advanced by Bank hereunder.   Any loan or advance shall be conclusively presumed to have been made under the terms of this Note to or for the benefit of Borrower  when made in accordance with such requests and directions, or when made pursuant to the terms of any written agreement executed  in connection herewith between Borrower and Bank, or when said advances are deposited to the credit of the account of Borrower  with Bank regardless of the fact that persons other than those authorized hereunder may have authority to draw against such account,  or when applied as a payment of principal and/or interest to another obligation of Borrower to Bank.    OBLIGORS: Any or each party to this Note (including each maker and endorser) and any or each surety and guarantor of this Note  bound under separate instrument or agreement are hereinafter referred to jointly and severally as “Obligor.”     SECURITY AND SET-OFF: In order to secure the repayment of the indebtedness evidenced by this Note, including, without  limitation, future advances, interest, attorneys’ fees, expenses of collection and costs, as well as the payment and performance of  any and all other liabilities or obligations of any Borrower to Bank, whether direct or indirect, absolute or contingent, due or to  become due, or now existing or hereafter arising, and including, but not limited to, all agreements with respect to any swap, forward,  future, or derivative transaction or option or similar agreement involving, or settled by reference to, one or more interest rates,  currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic,  financial or pricing risk or value (collectively, the “Obligations”), Borrower hereby pledges to Bank, and grants to Bank a continuing  lien and security interest in and a right of set-off and compensation against, all property of Borrower, including any such property  Borrower holds jointly with someone else, that is now or hereafter on deposit with, in the possession of, under the control of or held  by Bank or any financial institution affiliate of the Bank, including, without limitation, all cash, deposit accounts, funds on deposit,  stocks, bonds, treasury obligations and other securities, investment property, financial assets, securities accounts, notes, documents,  instruments, certificates of deposit, items, chattel paper, and other property (except IRA, pension, other tax-deferred retirement  accounts and any accounts or property held in a trust or fiduciary capacity for which setoff would be prohibited by law), together  with all property added to or substituted for any of the foregoing, and all interest, dividends, income, fruits, accessions and proceeds  of any of the foregoing. The terms "chattel paper," "deposit accounts," "documents," "items," "instruments," "investment property,"  “securities accounts,” “financial assets” and "proceeds" shall have the meaning provided in the Louisiana Uniform Commercial  Code.  Each Obligor releases Bank from any obligation with respect to the collateral including any obligation to collect any proceeds  of or preserve any of Obligor’s rights, including, without limitation, rights against prior parties, in any collateral in which Bank  possesses a security interest.   Any responsibility of Bank with respect to any collateral in which Bank possesses a security interest,  whether arising contractually or as a matter of law, is hereby expressly waived.      EVALUATIONS: Borrower represents and warrants that the indebtedness evidenced by this Note was contracted for by Borrower  at Borrower’s request based upon Borrower’s own independent determination of need.  Borrower and each other Obligor understand  and agree that any appraisals or evaluations made by or for the Bank of the financial condition of any person or the value of any  property were made solely for the Bank’s benefit and Bank in no way has represented or warranted the financial condition of any  person or the value of any property in making or obtaining said appraisals or evaluations or in extending credit to Borrower or any  other Obligor.  Borrower  and  each  other Obligor understand  and agree that  they have no  right to rely on  Bank’s appraisals  or  evaluations in assuming this debt and executing this instrument and that their obligation to pay the debt represented by this Note is  independent of any such appraisals or evaluations.    RENEWAL:    If an earlier note of Borrower to Bank is renewed at the time of execution hereof, then this Note constitutes an  extension, but not a novation, of the amount of the unpaid and continuing indebtedness, and all rights held by Bank under the earlier  note shall continue in full force and effect.    FINANCIAL INFORMATION: Borrower shall, and shall cause each other Obligor to, promptly provide to Bank true and correct  current financial statements and such other information regarding the financial condition, business and properties of each Obligor  as Bank may request from time to time, all in form, substance and detail satisfactory to the Bank.  The financial statements shall  include, among other things, detailed information regarding (i) any entities, such as corporations, partnerships, or limited liability  companies of which the Obligor is the majority owner and (ii) any entities of which the Obligor is not the majority owner, but for  which  Obligor is directly  or contingently  liable  on debts  or obligations of any  kind  incurred by  those  entities.  All  financial  statements  or  records  submitted  to  Bank  via  electronic  means,  including,  without  limitation  by  facsimile,  open  internet  communications or other telephonic or electronic methods, including, without limitation, documents in Tagged Image Format Files  (“TIFF”) or Portable Document Format (“PDF”) shall be treated as originals, fully binding and with full legal force and effect and  the parties waive any rights they may have to object to such treatment.  The Bank may rely on all such records in good faith as  complete and accurate records produced or maintained by or on behalf of the party submitting such records.      DEFAULT: If any of the following events shall occur (each such event being referred to herein as an “Event of Default”): (a) the  non-payment of any principal or interest on this Note or any other Obligation on the date when due; (b) the death, dissolution,  liquidation or insolvency of any Obligor; (c) the filing by or against any Obligor of a proceeding under the U.S. Bankruptcy Code;  (d) the application for appointment of a receiver for, the making of a general assignment for the benefit of creditors of, or the filing  of  any  proceeding  seeking  any  other  relief  afforded  debtors  or  affecting  rights  of  creditors  generally  under  the  laws  of  any  jurisdiction by or against any Obligor; (e) the default by any Obligor in the payment or performance of (i) any obligation under  this Note or under any deed of trust, mortgage, security agreement or any other document securing payment of this Note,  or (ii)  any obligation under any other note or under any other agreement of any Obligor with or in favor of Bank; (f) any judgment,  garnishment, seizure, tax lien or levy against any assets of any Obligor; (g) any material adverse change in the financial condition  of any Obligor, or any material discrepancy between the financial statements submitted by any Obligor and the actual financial  condition of any Obligor; (h) any statement, warranty, or representation made by any Obligor to Bank proves to be untrue in any  material  respect;  (i) any  default  by  any  Obligor  in  the  payment  or  performance  of  any  material  liabilities,  indebtedness  or  obligations to any other creditor; (j) any merger, consolidation or change in any Obligor’s type or form of organizational structure  without the prior written consent of  Bank; or (k) any discontinuance or termination of any guaranty of all or any portion of this  Note by any Obligor or any attempt by any Obligor to do so; then, at the option of Bank, the full amount of this Note and all other  obligations and liabilities, direct or contingent, of any Obligor to Bank shall be immediately due and payable without notice or  demand.    REMEDIES: Bank shall have the remedies of a secured party under the Louisiana Uniform Commercial Code.  In addition to any  and all other remedies which may be available to it, all of which shall be cumulative and may be pursued singly, successively or  together against any Obligor and/or any security given at any time to secure the payment hereof, all at the sole discretion of Bank.   Failure on the part of Bank to exercise any right described herein or in such other documents shall not constitute a waiver of such                                                 {N2549732.2}2  Initial __CH______    70423.6 LA (May 2018)   

 

right or preclude Bank’s subsequent exercise thereof. If any notice of sale or other intended disposition of the collateral is required  by law to be given, Borrower hereby agrees that a notice sent in compliance with applicable law or if applicable law does not define  the required notice period then at least ten (10) days prior to such action shall constitute reasonable notice to Borrower.  If the  proceeds of any collateral securing this Note disposed of by Bank are insufficient to pay this Note in full, Obligor shall remain fully  obligated for any deficiency.      For purposes of executory process, Obligor hereby acknowledges the debt created by this Note, confesses judgment in favor of  Bank for the full amount of the debt evidenced by this Note, and consents to enforcement by executory process.  To the extent  permitted by law, Obligor hereby expressly waives (a) the benefit of appraisement provided for in Art. 2723 of the Louisiana Code  of Civil Procedure and (b) all other rights to notices, demands, appraisements and delays provided by the Louisiana Code of Civil  Procedure or any other applicable laws.    FEES AND EXPENSES:  Obligor agrees to pay on demand all charges, fees, costs and/or taxes levied or assessed against Bank in  connection with this Note or  any collateral  securing  this  Note,  together  with  all  reasonable attorneys and paralegals’  fees and  expenses, and all other costs and expenses incurred by Bank in connection with the preparation, enforcement (including, without  limitation, in bankruptcy, probate or administration proceeding or otherwise), workout, restructuring or collection of this Note,  whether or not suit is filed, including such fees incurred in bankruptcy proceedings, at state and/or federal trial and appellate court  levels, together with all other costs and expenses that may be incurred by Bank in connection with the enforcement of this Note or  the preservation or enforcement of any of Bank’s rights or interests with respect to any collateral securing this Note.    WAIVER:  The Borrower waive(s), on behalf of itself and each Obligor,  presentment, demand, protest, notice of dishonor, notice  of demand or intent to demand, notice of acceleration or intent to accelerate, and all other notices, and agree(s) that no extension or  indulgence to the undersigned (or any of them) or release, substitution or nonenforcement of any security, or release or substitution  of any of the undersigned, any guarantor or any other party, whether with or without notice, shall affect the obligations of any of the  undersigned. The undersigned waive(s) all defenses or right to discharge available under applicable law and waive(s) all other  suretyship defenses or right to discharge and waives any right to receive notice of interest rate changes.    Each Obligor  also agrees Bank may, one or more times, in its sole discretion, without releasing or affecting any of its rights and  without notice to or the consent of such Obligor, take any one or more of the following actions: (a) release, renew, extend or modify  the obligations of Borrower or any other Obligor; (b) release, exchange, modify, or surrender in whole or in part Bank’s rights with  respect to any collateral for this Note; (c) with the consent of Borrower, modify or alter the term, interest rate or due date of any  payment of this Note; (d) grant any postponements, compromises, indulgences, waivers, surrenders or discharges or modify the  terms of its agreements with Borrower or any other Obligor; (e) change its manner of doing business with Borrower or any other  Obligor or person; or (f) impute payments or proceeds of any collateral furnished by any Obligor, in whole or in part to any costs,  interest, or principal due on this Note, or to any other obligation of any Obligor to Bank, or in the event of a third party claim thereto  retain the payments or proceeds as collateral for this Note without applying same toward payment of this Note, and each Obligor  hereby expressly waives any claims or  defenses arising from any such actions.    COMMERCIAL USE: Borrower warrants and represents to Bank and all other holders of this Note that all loans evidenced by  this Note are and will be for business, commercial, or other similar purpose and not primarily for personal, family, or household  purposes.    SALE/ASSIGNMENT:  The Borrower acknowledge(s) that the Bank has the right to sell, assign, transfer, negotiate, or grant  participations in all or any part of this Note and any related obligations, including, without limit, this Note, without notice to the  undersigned and that the Bank may disclose any documents and information which the Bank now has or later acquires relating to  the undersigned or to any collateral or to any Obligor or this Note in connection with such sale, assignment, transfer, negotiation, or  grant.  The Borrower agree(s) that the Bank may provide information relating to this Note or relating to the undersigned to the Bank's  parent, affiliates, subsidiaries and service providers.    GOVERNING LAW, JURISDICTION AND VENUE:  THIS NOTE IS MADE AND DELIVERED IN THE STATE OF  LOUISIANA AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS THEREOF  WITHOUT REFERENCE TO THE CONFLICTS OF LAW PRINCIPLES THAT WOULD CAUSE THE APPLICATION  OF THE LAWS OF ANOTHER JURISDICTION. BORROWER AND EACH OTHER OBLIGOR PARTY TO THIS  NOTE HEREBY IRREVOCABLY SUBMITS AND CONSENTS TO THE EXCLUSIVE PERSONAL JURISDICTION  AND  VENUE  OF  ANY  STATE  OR  FEDERAL  COURT  IN  LOUISIANA  LOCATED  IN  THE  SAME  JUDICIAL  DISTRICT AS THE OFFICE OF BANK SPECIFIED IN THE FIRST PARAGRAPH OF THIS NOTE AND AGREES  THAT  ALL  ACTIONS  OR  PROCEEDINGS  ARISING  DIRECTLY,  INDIRECTLY  OR  OTHERWISE  IN  CONNECTION WITH, OUT OF, RELATED TO OR FROM THIS NOTE SHALL BE LITIGATED ONLY IN ONE OF  THE FOREGOING DESCRIBED COURTS. BORROWER AND EACH OTHER OBLIGOR PARTY TO THIS NOTE,  FOR  THEMSELVES,  AND  THEIR  RESPECTIVE  HEIRS,  SUCCESSORS  AND  ITS  ASSIGNS,  AND  FOR  ANY  PERSON  CLAIMING  UNDER  OR  THROUGH  ANY  OF  THEM,  HEREBY  KNOWINGLY  AND  VOLUNTARILY  WAIVES ANY AND ALL RIGHTS TO HAVE THE JURISDICTION AND VENUE OF ANY LITIGATION ARISING  DIRECTLY, INDIRECTLY OR OTHERWISE IN CONNECTION WITH, OUT OF, RELATED TO OR FROM THIS  NOTE  IN  ANY  OTHER  COURT,  AND  HEREBY  KNOWINGLY  AND  VOLUNTARILY  WAIVES  ANY  AND  ALL  RIGHTS TO REMOVE THIS ACTION TO, OR TO TRANSFER, DISMISS, OR CHANGE VENUE TO, ANY OTHER  COURT. BORROWER AND EACH OTHER OBLIGOR PARTY TO THIS NOTE FURTHER ACKNOWLEDGES AND  AGREES THAT NEITHER BANK NOR ANY PERSON ACTING ON BEHALF OF BANK HAS IN ANY WAY AGREED  WITH  OR  REPRESENTED  TO  BORROWER  OR  SUCH  OBLIGOR  THAT  THE  PROVISIONS  OF  THIS  PARAGRAPH HAVE BEEN WAIVED OR WILL NOT BE FULLY ENFORCED BY BANK.    WAIVER OF JURY TRIAL. BORROWER KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVES, TO THE  FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHTS BORROWER MAY HAVE TO  TRIAL BY JURY IN ANY LEGAL PROCEEDING BASED ON, ARISING OUT OF, OR IN ANY WAY RELATED TO:  THIS NOTE; THE OBLIGATIONS; ANY NOTES, LOAN AGREEMENTS, OR ANY OTHER LOAN DOCUMENT OR  AGREEMENT  EXECUTED  OR  CONTEMPLATED  TO  BE  EXECUTED  IN  CONNECTION  WITH  ANY  OF  THE  OBLIGATIONS  OR  ANY  OF  THE  TRANSACTIONS  CONTEMPLATED  HEREBY  OR  THEREBY.  THIS  JURY  WAIVER ALSO APPLIES TO ANY CLAIM, COUNTERCLAIM, CAUSE OF ACTION OR DEMAND ARISING FROM  OR RELATED TO (I) ANY COURSE OF CONDUCT, COURSE OF DEALING, OR RELATIONSHIP OF BORROWER,  ANY  OBLIGOR,  OR  ANY  OTHER  PERSON  WITH  BANK  OR  ANY  EMPLOYEE,  OFFICER,  DIRECTOR  OR  ASSIGNEE  OF  BANK  IN  CONNECTION  WITH  THE  OBLIGATIONS;  OR  (II)  ANY  STATEMENT  (WHETHER  VERBAL OR WRITTEN) OR ACTIONS OF ANY PERSON BY OR ON BEHALF OF BANK TO BORROWER, ANY  OBLIGOR,  OR  ANY  OTHER  PERSON  IN  CONNECTION  WITH  THE  OBLIGATIONS,  REGARDLESS  OF  WHETHER SUCH CAUSE OF ACTION ARISES BY CONTRACT, TORT OR OTHERWISE.  BORROWER HEREBY  ACKNOWLEDGES THAT THIS WAIVER OF JURY TRIAL IS A MATERIAL INDUCEMENT TO THE BANK IN  EXTENDING CREDIT TO THE BORROWER, THAT THE BANK WOULD NOT HAVE EXTENDED SUCH CREDIT  WITHOUT THIS JURY TRIAL WAIVER, AND THAT BORROWER HAS BEEN REPRESENTED BY AN ATTORNEY                                                  {N2549732.2}3  Initial __CH______    70423.6 LA (May 2018)   

 

OR HAS HAD  AN OPPORTUNITY  TO CONSULT WITH AN  ATTORNEY IN  CONNECTION WITH THIS JURY  TRIAL  WAIVER  AND  UNDERSTANDS  THE  LEGAL  EFFECT  OF  THIS  WAIVER.   BORROWER  FURTHER  CERTIFIES THAT NO PERSON HAS REPRESENTED TO IT, EXPRESSLY OR OTHERWISE, THAT BANK OR ANY  OTHER  PERSON  WOULD  NOT,  IN  THE  EVENT  OF  A  LEGAL  PROCEEDING,  SEEK  TO  ENFORCE  THE  FOREGOING WAIVER.    MISCELLANEOUS: The provisions of this Note may not be waived or modified except in writing, signed by Bank.  Failure of  Bank to exercise rights, remedies or options Bank may have upon the happening of one or more of the events giving rise to such  rights, remedies or options shall not constitute a waiver of the right to exercise the same or any other right, remedy or option at any  subsequent time in respect to the same or any other event.  The acceptance by Bank of any payment hereunder that is less than  payment in full of all amounts due and payable at the time of such payment shall not constitute a waiver of the right to exercise any  of the rights, remedies or options granted herein to Bank at that time or at any subsequent time or nullify any prior exercise of any  such right,  remedy or option without the express written acknowledgment of the Bank.    If any provision of this Note shall be held to be legally invalid or unenforceable by any court of competent jurisdiction, all remaining  provisions of this Note shall remain in full force and effect.      The term Bank as used herein shall include transferees, successors, and assigns of Bank, and all rights of Bank hereunder shall inure  to the benefit of its transferees, successors, and assigns. All obligations of Obligor shall bind Obligor’s heirs, legal representatives,  successors, and assigns.    The descriptive headings of the several sections of this Note are inserted for convenience only and shall not in any way affect the  meaning or construction hereof.    Bank may, at its option and in its sole discretion, maintain and rely upon a photocopy, electronic copy or other reproduction of this  Note, and Borrower and each other Obligor, for themselves and their respective heirs, successors, and assigns, and any person  claiming by or through any of them, hereby waive any and all objections to, and claims or defenses based upon, the failure of Bank  to produce the original hereof for any purpose whatsoever.    This Note embodies the final, entire agreement of Borrower and Bank with respect to the subject matter hereof.  No course of  dealing,  course  of  performance,  usage  of  trade  or  evidence  of  any  prior,  contemporaneous  or  subsequent  oral  agreements  or  discussions or other extrinsic evidence of any nature shall be used to contradict, vary, supplement or modify any term of this note.   There are no oral agreements between the parties.      THIS  NOTE  AND  ALL  OTHER  LOAN  DOCUMENTS  EMBODY  THE  FINAL,  ENTIRE  AGREEMENT  OF  BORROWER  AND  BANK  AND  SUPERSEDES  ANY  AND  ALL  PRIOR  COMMITMENTS,  AGREEMENTS,  REPRESENTATIONS, AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT  MATTER HEREOF AND THEREOF AND MAY NOT BE CONTRADICTED OR VARIED BY ANY EVIDENCE OF  PRIOR, CONTEMPORANEOUS OR A SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF BORROWER  AND BANK.  THERE ARE NO ORAL AGREEMENTS BETWEEN THE BORROWER AND BANK.                                                                              BORROWER:   INTERNAL USE ONLY                                                        Viemed, Inc.                                                                                                                  By:         /s/ Casey Hoyt                                                                          Name:  Casey Hoyt                                      Title:    Chief Executive Officer                                                                                    Sleep Management, L.L.C.                                                  By:          /s/ Casey Hoyt                                                  Name:   Casey Hoyt                                           Title:     General Manager                                               Home Sleep Delivered, L.L.C.                                                  By:          /s/ Casey Hoyt                                                          Name:   Casey Hoyt                                           Title:     General Manager                                                     {N2549732.2}4  Initial __CH______    70423.6 LA (May 2018)Exhibit 10.1

 

SECURITIES
PURCHASE AGREEMENT

 

This Securities Purchase
Agreement (this “Agreement”) is dated as of May 5, 2020, between Pluristem Therapeutics, Inc., a Nevada corporation
(the “Company”), and each purchaser identified on the signature pages hereto (each, including its successors
and assigns, a “Purchaser” and collectively the “Purchasers”).

 

WHEREAS, subject to
the terms and conditions set forth in this Agreement and pursuant to an effective registration statement under the Securities Act
of 1933, as amended (the “Securities Act”) as to the Securities and the Company desires to issue and sell to
each Purchaser, and each Purchaser, severally and not jointly, desires to purchase from the Company, securities of the Company
as more fully described in this Agreement.

 

NOW, THEREFORE, IN
CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and
adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE I.

DEFINITIONS

 

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

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person as such terms are used in and construed under Rule 405 under the Securities Act.

 

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

 

“Closing”
means the closing of the purchase and sale of the Shares pursuant to Section 2.1.

 

“Closing
Date” means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable
parties thereto, and all conditions precedent to (i) the Purchasers’ obligations to pay the Subscription Amount and (ii)
the Company’s obligations to deliver the Shares, in each case, have been satisfied or waived, but in no event later than
the second (2nd) Trading Day following the date hereof.

 

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

 

“Common
Stock” means the common stock of the Company, par value $0.00001 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed.

 

    1

     

    

 

“Disclosure
Time” means, (i) if this Agreement is signed on a day that is not a Trading Day or after 9:00 a.m. (New York City time)
and before midnight (New York City time) on any Trading Day, 9:01 a.m. (New York City time) on the Trading Day immediately following
the date hereof, and (ii) if this Agreement is signed between midnight (New York City time) and 9:00 a.m. (New York City time)
on any Trading Day, no later than 9:01 a.m. (New York City time) on the date hereof.

 

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

 

“Liens”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Material
Adverse Effect” means (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document,
(ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise)
of the Company and the Subsidiaries, taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform
in any material respect on a timely basis its obligations under any Transaction Document.

 

“Per
Share Purchase Price” equals $9.45, subject to adjustment for reverse and forward stock splits, stock dividends, stock
combinations and other similar transactions of the Common Stock that occur after the date of this Agreement.

 

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

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition) pending or, to the Company’s knowledge, threatened in writing against or affecting the
Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental or administrative
agency or regulatory authority (federal, state, county, local or foreign).

 

“Prospectus”
means the final base prospectus filed for the Registration Statement.

 

“Prospectus
Supplement” means the supplement to the Prospectus complying with Rule 424(b) of the Securities Act that is filed with
the Commission and delivered by the Company to each Purchaser at the Closing.

 

“Registration
Statement” means the effective registration statement with Commission File No. 333-218916 which registers the sale of
the Shares.

 

“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

    2

     

    

 

“SEC
Reports” shall have the meaning ascribed to such term in Section 3.1(e).

 

“Securities”
means the Shares.

 

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

 

“Shares”
means the shares of Common Stock issued or issuable to each Purchaser pursuant to this Agreement.

 

“Short
Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall
not be deemed to include locating and/or borrowing shares of Common Stock). 

 

“Subscription
Amount” means, as to each Purchaser, the aggregate amount to be paid for Shares purchased hereunder as specified below
such Purchaser’s name on the signature page of this Agreement and next to the heading “Subscription Amount,”
in United States dollars and in immediately available funds.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
the New York Stock Exchange (or any successors to any of the foregoing).

 

“Transaction
Documents” means this Agreement, and all exhibits and schedules thereto and hereto and any other documents or agreements
executed in connection with the transactions contemplated hereunder.

 

“Transfer
Agent” means American Stock Transfer and Trust Company, LLC, the current
transfer agent of the Company, with a mailing address of 6201 15th Avenue, 2nd Floor, Brooklyn,
NY 11219, and any successor transfer agent of the Company.

 

ARTICLE II.

PURCHASE AND SALE

 

2.1 Closing.
On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchasers,
severally and not jointly, agree to purchase, up to an aggregate of approximately $15,000,000 million of Shares. Each Purchaser’s
Subscription Amount as set forth on the signature page hereto executed by such Purchaser shall be made available for “Delivery
Versus Payment” settlement with the Company or its designees. The Company shall deliver to each Purchaser its respective
Shares as determined pursuant to Section 2.2(a), and the Company and each Purchaser shall deliver the other items set forth in
Section 2.2 deliverable at the Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the
Closing shall occur at the offices of Sullivan & Worcester, LLP, located at 1633 Broadway, New York, New York 10019, or such
other location as the parties shall mutually agree.

 

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2.2 Deliveries.

 

(a) On
or prior to the Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following:

 

(i) this
Agreement duly executed by the Company;

 

(ii) subject
to the last sentence of Section 2.1, a copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent
to deliver on an expedited basis via The Depository Trust Company Deposit or Withdrawal at Custodian system (“DWAC”)
Shares equal to such Purchaser’s Subscription Amount divided by the Per Share Purchase Price, registered in the name of such
Purchaser;

 

(iii) the
Prospectus and Prospectus Supplement (which may be delivered in accordance with Rule 172 under the Securities Act).

 

(b) On
or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company the following:

 

(i) this
Agreement duly executed by such Purchaser; and

 

(ii) such
Purchaser’s Subscription Amount, which shall be made available for “Delivery Versus Payment” settlement with
the Company or its designees.

 

2.3 Closing
Conditions.

 

(a) The
obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 

(i) the
accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse
Effect, in all respects) when made and on the Closing Date of the representations and warranties of the Purchasers contained herein
(unless as of a specific date therein in which case they shall be accurate as of such date);

 

(ii) all
obligations, covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have been
performed; and

 

(iii) the
delivery by each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

 

    4

     

    

 

(b) The
respective obligations of the Purchasers hereunder in connection with the Closing are subject to the following conditions being
met:

 

(i) the
accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse
Effect, in all respects) when made and on the Closing Date of the representations and warranties of the Company contained herein
(unless as of a specific date therein in which case they shall be accurate as of such date);

 

(ii) all
obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed;

 

(iii) the
delivery by the Company of the items set forth in Section 2.2(a) of this Agreement;

 

(iv) there
shall have been no Material Adverse Effect with respect to the Company since the date hereof; and

 

(v) from
the date hereof to the Closing Date, trading in the Common Stock shall not have been suspended by the Commission or the Company’s
principal Trading Market, and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg
L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are
reported by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United States
or New York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national
or international calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in
each case, in the reasonable judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Shares at the Closing.

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

3.1 Representations
and Warranties of the Company. The Company hereby makes the following representations and warranties to each Purchaser:

 

(b) Organization
and Qualification. The Company is an entity duly incorporated or otherwise organized, validly existing and in good standing
under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to own and use
its properties and assets and to carry on its business as currently conducted.

 

(c) Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
hereby. The execution and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated
hereby, including the issuance of the Securities, has been duly authorized by all necessary action on the part of the Company.
This Agreement is the valid and binding obligation of the Company enforceable against the Company in accordance with its terms.

 

    5

     

    

 

(d) Issuance
of the Shares; Registration. The Shares are duly authorized and, when issued and paid for in accordance with the applicable
Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the
Company.. The Company, if required by the rules and regulations of the Commission, shall file the Prospectus Supplement with the
Commission pursuant to Rule 424(b).

 

(e) SEC
Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required
to be filed by the Company under the Securities Act and Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for
the one (1) year preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such
material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, together with
the Prospectus and the Prospectus Supplement, being collectively referred to herein as the “SEC Reports”) on
a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration
of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the requirements of
the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement
of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading.

 

(f) Material
Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements included
within the SEC Reports, there has been no event, occurrence or development that has had or that could reasonably be expected to
result in a Material Adverse Effect.

 

3.2 Representations
and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents and warrants as
of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which case they
shall be accurate as of such date):

 

(a) Organization;
Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing
under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability
company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents
and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and
performance by such Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary
corporate, partnership, limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction
Document to which it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with
the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance
with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification
and contribution provisions may be limited by applicable law.

 

    6

     

    

 

(b) Understandings
or Arrangements. Such Purchaser is acquiring the Securities as principal for its own account and has no direct or indirect
arrangement or understandings with any other persons to distribute or regarding the distribution of such Securities (this representation
and warranty not limiting such Purchaser’s right to sell the Securities pursuant to the Registration Statement or otherwise
in compliance with applicable federal and state securities laws). Such Purchaser is acquiring the Securities hereunder in the ordinary
course of its business

 

(c) Experience
of Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication and
experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Securities, and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk
of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

 

(d) Access
to Information. Such Purchaser acknowledges that it has had the opportunity to review the Transaction Documents (including
all exhibits and schedules thereto) and the SEC Reports and has been afforded, (i) the opportunity to ask such questions as it
has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the
offering of the Securities and the merits and risks of investing in the Securities; (ii) access to information about the Company
and its financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate
its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without
unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment

 

(e) Certain
Transactions and Confidentiality. Other than consummating the transactions contemplated hereunder, such Purchaser has not,
nor has any Person acting on behalf of or pursuant to any understanding with such Purchaser, directly or indirectly executed any
purchases or sales, including Short Sales, of the securities of the Company during the period commencing as of the time that
such Purchaser first received a term sheet (written or oral) from the Company or any other Person representing the Company setting
forth the material terms of the transactions contemplated hereunder and ending immediately prior to the execution hereof. Notwithstanding
the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage
separate portions of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions
made by the portfolio managers managing other portions of such Purchaser’s assets, the representation set forth above shall
only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase
the Securities covered by this Agreement. Other than to other Persons party to this Agreement or to such Purchaser’s representatives,
including, without limitation, its officers, directors, partners, legal and other advisors, employees, agents and Affiliates, such
Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the existence
and terms of this transaction). Notwithstanding the foregoing, for the avoidance of doubt, nothing contained herein shall constitute
a representation or warranty against, or a prohibition of, any actions with respect to the borrowing of, arrangement to borrow,
identification of the availability of, and/or securing of, securities of the Company in order for such Purchaser (or its broker
or other financial representative) to effect Short Sales or similar transactions in the future.

 

    7

     

    

 

The Company acknowledges
and agrees that the representations contained in this Section 3.2 shall not modify, amend or affect such Purchaser’s right
to rely on the Company’s representations and warranties contained in this Agreement or any representations and warranties
contained in any other Transaction Document or any other document or instrument executed and/or delivered in connection with this
Agreement or the consummation of the transactions contemplated hereby. Notwithstanding the foregoing, for the avoidance of doubt,
nothing contained herein shall constitute a representation or warranty, or preclude any actions, with respect to locating or borrowing
shares in order to effect Short Sales or similar transactions in the future.

 

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1 Legends. The Shares shall
be issued free of legends.

 

4.2 Securities
Laws Disclosure; Publicity. The Company shall (a) by the Disclosure Time issue a press release disclosing the material terms
of the transactions contemplated hereby, and (b) file a Current Report on Form 8-K, including the Transaction Documents as exhibits
thereto, with the Commission within the time required by the Exchange Act. From and after the issuance of such press release, the
Company represents to the Purchasers that it shall have publicly disclosed all material, non-public information delivered to any
of the Purchasers by the Company or any of its Subsidiaries, or any of their respective officers, directors, employees or agents
in connection with the transactions contemplated by the Transaction Documents. In addition, effective upon the issuance of such
press release, the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement,
whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, agents, employees
or Affiliates on the one hand, and any of the Purchasers or any of their Affiliates on the other hand, shall terminate. The Company
and each Purchaser shall consult with each other in issuing any other press releases with respect to the transactions contemplated
hereby, and neither the Company nor any Purchaser shall issue any such press release nor otherwise make any such public statement
without the prior consent of the Company, with respect to any press release of any Purchaser, or without the prior consent of each
Purchaser, with respect to any press release of the Company, which consent shall not unreasonably be withheld or delayed, except
if such disclosure is required by law, in which case the disclosing party shall promptly provide the other party with prior notice
of such public statement or communication. Notwithstanding the foregoing, the Company shall not publicly disclose the name of any
Purchaser, or include the name of any Purchaser in any filing with the Commission or any regulatory agency or Trading Market, without
the prior written consent of such Purchaser, except (a) as required by federal securities law in connection with the filing of
final Transaction Documents with the Commission and (b) to the extent such disclosure is required by law or Trading Market regulations,
in which case the Company shall provide the Purchasers with prior notice of such disclosure permitted under this clause (b).

 

    8

     

    

 

4.3 Equal
Treatment of Purchasers. No consideration (including any modification of any Transaction Document) shall be offered or paid
to any Person to amend or consent to a waiver or modification of any provision of the Transaction Documents unless the same consideration
is also offered to all of the parties to such Transaction Documents. For clarification purposes, this provision constitutes a separate
right granted to each Purchaser by the Company and negotiated separately by each Purchaser, and is intended for the Company to
treat the Purchasers as a class and shall not in any way be construed as the Purchasers acting in concert or as a group with respect
to the purchase, disposition or voting of Shares or otherwise.

 

4.4 Certain
Transactions and Confidentiality. Each Purchaser, severally and not jointly with the other Purchasers, covenants that neither
it nor any Affiliate acting on its behalf or pursuant to any understanding with it will execute any purchases or sales, including
Short Sales of any of the Company’s securities during the period commencing with the execution of this Agreement and ending
at such time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release
as described in Section 4.4.  Each Purchaser, severally and not jointly with the other Purchasers, covenants that until such
time as the transactions contemplated by this Agreement are publicly disclosed by the Company pursuant to the initial press release
as described in Section 4.2, such Purchaser will maintain the confidentiality of the existence and terms of this transaction. 

 

ARTICLE V.

MISCELLANEOUS

 

5.1 Termination. 
This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any effect
whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the Closing
has not been consummated on or before the fifth (5th) Trading Day following the date hereof; provided, however,
that no such termination will affect the right of any party to sue for any breach by any other party (or parties).

 

5.2 Fees
and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and
expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident
to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all Transfer Agent
fees (including, without limitation, any fees required for same-day processing of any instruction letter delivered by the Company),
stamp taxes and other taxes and duties levied in connection with the delivery of any Shares to the Purchasers.

 

    9

     

    

 

5.3 Entire
Agreement. The Transaction Documents, together with the exhibits and schedules thereto, the Prospectus and the Prospectus Supplement,
contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements
and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents,
exhibits and schedules.

 

5.4 Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of: (a) the time of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or email attachment at the email address as set forth on the signature pages attached hereto
at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the time of transmission, if such
notice or communication is delivered via facsimile at the facsimile number or email attachment at the email address as set forth
on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading
Day, (c) the second (2nd)Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight
courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices
and communications shall be as set forth on the signature pages attached hereto. To the extent that any notice provided pursuant
to any Transaction Document constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries,
the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.

 

5.5 Amendments;
Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed,
in the case of an amendment, by the Company and Purchasers which purchased at least 50.1% in interest of the Securities based on
the initial Subscription Amounts hereunder or, in the case of a waiver, by the party against whom enforcement of any such waived
provision is sought, provided that if any amendment, modification or waiver disproportionately and adversely impacts a Purchaser
(or group of Purchasers), the consent of such disproportionately impacted Purchaser (or group of Purchasers) shall also be required.
No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing
waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof,
nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.
Any proposed amendment or waiver that disproportionately, materially and adversely affects the rights and obligations of any Purchaser
relative to the comparable rights and obligations of the other Purchasers shall require the prior written consent of such adversely
affected Purchaser. Any amendment effected in accordance with this Section 5.5 shall be binding upon each Purchaser and holder
of Securites and the Company.

 

5.6 Headings.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof.

 

    10

     

    

 

5.7 Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted
assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of
each Purchaser (other than by merger). Any Purchaser may assign any or all of its rights under this Agreement to any Person to
whom such Purchaser assigns or transfers any Securities, provided that such transferee agrees in writing to be bound, with respect
to the transferred Securities, by the provisions of the Transaction Documents that apply to the “Purchasers.”

 

5.8 No
Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise
set forth in this Section 5.8.

 

5.9 Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed
by and construed and enforced in accordance with the internal laws of the State of Israel. Each party agrees that all legal Proceedings
concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against
a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively
in the State of Israel. Each party hereby irrevocably submits to the exclusive jurisdiction of the State of Israel for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with
respect to the enforcement of this Agreement).

 

5.10 Survival.
The representations and warranties contained herein shall survive the Closing and the delivery of the Shares for a period of not
longer than two (2) years from the Closing.

 

5.11 Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being
understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

5.12 Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

 

    11

     

    

 

5.13 Rescission
and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of)
any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction
Document and the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser
may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand
or election in whole or in part without prejudice to its future actions and rights.

 

5.14 Independent
Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are several
and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance
or non-performance of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any
other Transaction Document, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the
Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers
are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction
Documents. Each Purchaser shall be entitled to independently protect and enforce its rights including, without limitation, the
rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser
to be joined as an additional party in any Proceeding for such purpose. Each Purchaser has been represented by its own separate
legal counsel in its review and negotiation of the Transaction Documents. The Company has elected to provide all Purchasers with
the same terms and Transaction Documents for the convenience of the Company and not because it was required or requested to do
so by any of the Purchasers. It is expressly understood and agreed that each provision contained in this Agreement and in each
other Transaction Document is between the Company and a Purchaser, solely, and not between the Company and the Purchasers collectively
and not between and among the Purchasers.

 

5.15 Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required
or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

5.16 Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction
Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and
every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse
and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after
the date of this Agreement.

 

5.17 Purchaser
Ownership Notification; SEC Reporting Obligations. Purchaser acknowledges and agrees that in the event the Purchaser acquires
shares of Common Stock greater than 19.99% of the Company’s outstanding shares of Common Stock, the Purchaser shall immediately
provide notice to the Company of such event. Notwithstanding the foregoing, Purchaser covenants that he does not intend to own
more than 19.99% of the issued and outstanding shares of the Company. In addition, the Purchaser acknowledges and agrees that it
may be subject to reporting requirements of Sections 13 and 16 promulgated under the Exchange Act, and covenants and agrees it
shall comply with all such requirements, as applicable.

 

5.18 WAIVER
OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE
PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY,
IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

 

(Signature Pages Follow)

    12

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	PLURISTEm THERAPEUTICS, INC.	 	Address for Notice:
	 	 	 
	By:	 	 	Fax:
	 	Name:	 	E-mail:
	 	Title:	 	 
	 	 	 
	 	 	 
	By:	 	 	 
	 	Name:	 	 
	 	Title:	 	 

 

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SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

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[PURCHASER SIGNATURE PAGES TO PSTI
SECURITIES PURCHASE AGREEMENT]

 

IN WITNESS WHEREOF,
the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as
of the date first indicated above.

 

Name of Purchaser: ______________________________________________________

 

Signature of Authorized Signatory of
Purchaser: _________________________________

 

Name of Authorized Signatory: _______________________________________________

 

Title of Authorized Signatory: ________________________________________________

 

Email Address of Authorized Signatory:_________________________________________

 

Facsimile Number of Authorized Signatory: __________________________________________

 

Address for Notice to Purchaser:

 

DWAC for Shares:

 

Subscription Amount: $_________________

 

Shares: _________________

 

EIN Number: ____________________

 

 

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