Document:

FORM OF SUBSCRIPTION DOCUMENTS AND INSTRUCTIONS

 

The following documents
must be completed in accordance with the instructions set forth below and must be executed in order to determine whether you are
an “accredited investor” as such term is defined in the Securities Act of 1933, as amended, and, if so accredited,
in order to subscribe for the purchase of certain securities (the “Securities”) of Cytomedix, Inc., a Delaware
corporation (the “Company”), consisting of: (i) 10% Subordinated Convertible Promissory Notes and (ii) a warrant
to purchase shares of Common Stock (a “Warrant”). Each Warrant shall be exercisable for the number of shares
of Common Stock set forth in the Warrant Exercise Price (as defined below) for five (5) years after the Closing.

 

1.           Instructions.

 

(a)  Subscription
Agreement and Registration Rights Agreement. Be sure to carefully and fully read the Subscription Agreement and the Registration
Rights Agreement, and execute the signature pages which are applicable to you. On the appropriate signature pages, you must sign,
print your name (or the name of the entity on whose behalf you are signing), address and social security or tax identification
number where indicated, and indicate the number of Securities subscribed for, the date of execution and the manner in which title
to the Securities will be held.

 

(b)  Confidential
Investor Questionnaire. Be sure to carefully and fully read the Confidential Investor Questionnaire attached as Exhibit
A to Subscription Agreement. On the signature page of the Confidential Investor Questionnaire, you must sign and print your
name (or the name of the entity on whose behalf you are signing) where indicated.

 

A PROSPECTIVE SUBSCRIBER FOR SECURITIES
MUST BE SURE TO CAREFULLY AND FULLY READ THE ACCOMPANYING OFFERING DOCUMENTS PRIOR TO RETURNING THE SIGNED SUBSCRIPTION DOCUMENTS.

 

2.           Return
of Documents.  Originals of the signed Subscription
Agreement and Confidential Investor Questionnaire should be delivered to the following address:

 

Cytomedix,
Inc.

209 Perry
Parkway, Suite 7

Gaithersburg,
MD 20877

Attention:
Steven A. Shallcross, CFO 

 

3.          Payment.
Payment of the Purchase Price and the Closing shall be effected in accordance with Sections 1 and 2 of the Subscription Agreement.

 

If you should have
any questions, please contact Steven A. Shallcross, CFO of the Company, at the Company’s principal executive offices located
at 209 Perry Parkway, Suite 7, Gaithersburg, MD 20877, or by telephone at (240) 499-2680.

 

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PLEASE PRINT:

 

	NAME OF SUBSCRIBER: 	_______________________
	 	 
	PRINCIPAL AMOUNT OF NOTES PURCHASED:  	$______________________

 

FORM SUBSCRIPTION AGREEMENT

 

This Subscription Agreement
(this “Agreement”) is being delivered to you in connection with your investment in Cytomedix, Inc., a Delaware
corporation whose shares of common stock (the “Common Stock”) (“the Company”). The Company
is conducting a private placement (the “Offering”) of securities, consisting of 10% Subordinated Convertible
Promissory Notes (the “Notes”) and (ii) a five-year warrant to purchase shares of Common Stock (a “Warrant”)
(the Notes and Warrants are referred to as the “Securities”). Each Warrant shall be for the number of shares
of Common Stock set forth in the Warrant at an initial exercise price per share of one hundred twenty five (125%) percent of the
Market Price (as the term is defined in the Notes) (the “Warrant Exercise Price”) for five (5) years after the
Closing.

 

All funds received
in the Offering prior to the Closing (as defined below) shall be, upon fulfillment of the other conditions precedent set forth
herein, delivered to the Company, at which time the Notes and the Warrants subscribed for shall be delivered, subject to the terms
and provisions hereof and as further described below, to you.

 

1.             Subscription
and Purchase Price

 

(a)         Subscription.
Subject to the conditions set forth in Section 2 hereof, the undersigned hereby subscribes
for and agrees to purchase the number of Securities indicated above on the terms and conditions described herein. The principal
amount of the Notes purchased is $__________. Subscriptions for lesser amounts may be accepted at the discretion of the Company.
The undersigned shall also be entitled to a Warrant to purchase a number of shares of the Company’s common stock equal to
seventy five percent (75%) of the number of shares of the Company’s common stock into which the Notes may convert at the
Closing at the Warrant Exercise Price for five (5) years after the Closing.

 

(b)         Purchase
of Securities. The undersigned understands and acknowledges that the purchase price to be remitted to the Company in exchange
for the Securities shall be $________, for an aggregate purchase price as set forth on Page 10 hereof
(the “Aggregate Purchase Price”). The undersigned understands and agrees that, subject to Section
2 hereof and applicable laws, by executing this Agreement, he, she or it is entering into a binding agreement.

 

2.             Acceptance,
Offering Term and Closing Procedures

 

(a)         Acceptance
or Rejection. The obligation of the undersigned to purchase the Securities shall, subject to the
investor accreditation process, applicable securities laws and the closing conditions contained in this Section, be irrevocable
and the undersigned shall be legally bound to purchase the Securities subject to the terms set forth in this Agreement.

 

(b)         Closing.
The closing of the Offering (the “Closing”) shall occur upon no later than the fifth (5th) trading
day following the date on which all of the transaction documents evidencing receipt of acceptable subscriptions equal to at least
$3,000,000 have been executed and delivered by the applicable parties thereto, and A Good News CMS Reimbursement
Determination Event (as defined below) shall have occurred, and the Company’s obligations to deliver the Securities, in each
case, have been satisfied or waived, at the offices of the Company or such other location as the parties shall mutually agree;
provided, however, in no event shall the Closing take place later than December 31, 2013. The parties hereto understand
and agree that at the Closing seventy five (75%) percent of the gross receipts of acceptable subscriptions in this Offering shall
be disbursed to the Company and the remainder balance of the twenty five (25%) percent of such gross receipts shall be held at
the escrow account at the First Republic Trust Company, a division of First Republic Bank, and shall be disbursed to the Company
ten (10) calendar days following the effectiveness of the registration statement to be filed with the Securities and Exchange Committee
to register the resale of the shares of the Company’s common stock issuable upon conversion of the Notes and exercise of
the Warrants sold hereunder. In the event the Closing does not take place in accordance with the provisions hereof or the sale
of the Securities is not consummated by the Company for any reason, this Agreement and any other agreement entered into between
the undersigned and the Company relating to the undersigned’s subscription for Securities shall thereafter have no force
or effect.

 

As used herein, the
term “A Good News CMS Reimbursement Determination Event” shall be understood to be a final ruling by the Centers for
Medicare & Medicaid Services (“CMS”) in the “CY 2014 Changes to the Hospital Outpatient Prospective
Payment System and Ambulatory Surgical Center Payment System (CMS-1601-FC)” resulting in an approved payment rate for AutoloGel
of at least $450 per treatment.

 

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3.             Investor’s Representations and Warranties

 

The undersigned hereby
acknowledges, agrees with and represents and warrants to the Company, as follows:

 

(a)        The undersigned
has read and fully understand all reports and other filings made by the Company with the Securities and Exchange Commission (the
“SEC”) that are available through EDGAR at the SEC’s website (www.sec.gov), including, but not limited
to, the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, the Company’s Quarterly Reports
on Form 10-Q for the quarters ended March 31, 2013; June 30, 2013; and September 30, 2013, and the Current Reports on Form 8-K
dated February 20, 2013, March 15, 2013, April 3, 2013, June 6, 2013, June 11, 2013, September 18, 2013 and October 31, 2013, (and
any amendments to any of the foregoing). 

 

(b)        The undersigned
has full power and authority to enter into and deliver this Agreement and to perform the obligations hereunder, and the execution,
delivery and performance of this Agreement has been duly authorized, if applicable, and this Agreement constitutes a valid and
legally binding obligation of the undersigned.

 

(c)         The
undersigned acknowledges his, her or its understanding that the offering and sale of the Notes, the Warrants and the shares of
common stock underlying such Securities (the “Underlying Securities”) is intended to be exempt from registration
under the Securities Act of 1933, as amended (the “Securities Act”), by virtue of Section 4(2) of the Securities
Act and the provisions of Regulation D promulgated thereunder (“Regulation D”). In furtherance thereof, the
undersigned represents and warrants to the Company as follows:

 

      (i)         The
undersigned realizes that the basis for the exemption from registration may not be available if, notwithstanding the undersigned’s
representations contained herein, the undersigned is merely acquiring the Securities for a fixed or determinable period in the
future, or for a market rise, or for sale if the market does not rise. The undersigned does not have any such intention.

 

      (ii)        The
undersigned is acquiring the Securities solely for the undersigned’s own beneficial account, for investment purposes, and
not with view to, or resale in connection with, any distribution of the Securities.

 

      (iii)       The
undersigned has the financial ability to bear the economic risk of his, her or its investment, has adequate means for providing
for its current needs and contingencies, and has no need for liquidity with respect to the investment in the Company.

 

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      (iv)       The
undersigned and the undersigned’s attorney, accountant, purchaser representative and/or tax advisor, if any (collectively,
“Advisors”), have received, carefully reviewed and understand the information contained in various documents
and agreements provided by the Company, together with all appendices and exhibits thereto (as such documents may be amended or
supplemented, the “Transaction Documents”), relating to the Offering.

 

     (v)        The
undersigned (together with his, her or its Advisors, if any) has such knowledge and experience in financial and business matters
as to be capable of evaluating the merits and risks of the prospective investment in the Securities. If other than an individual,
the undersigned also represents it has not been organized solely for the purpose of acquiring the Securities.

 

(d)         The
information in the Confidential Investor Questionnaire attached hereto as Exhibit A and completed and executed by the undersigned
is true and accurate in all respects, and the undersigned is an “accredited investor,” as that term is defined in Rule
501(a) of Regulation D.

 

(e)        
The undersigned is not relying on the Company or its affiliates or agents with respect to economic considerations involved in this
investment. The undersigned has relied on the advice of, or has consulted with, only his, her or its Advisors. Each Advisor, if
any, is capable of evaluating the merits and risks of an investment in the Securities, and each Advisor, if any, has disclosed
to the undersigned in writing (a copy of which is annexed to this Agreement) the specific details of any and all past, present
or future relationships, actual or contemplated, between the Advisor or any affiliate or sub-agent thereof.

 

(f)          The
undersigned represents, warrants and agrees that he, she or it will not sell or otherwise transfer the Securities without registration
under the Securities Act or an exemption therefrom, and fully understands and agrees that the undersigned must bear the economic
risk of his, her or its purchase because, among other reasons, the Securities have not been registered under the Securities Act
or under the securities laws of any state and, therefore, cannot be resold, pledged, assigned or otherwise disposed of unless they
are subsequently registered under the Securities Act and under the applicable securities laws of such states, or an exemption from
such registration is available. In particular, the undersigned is aware that the Securities (including the Underlying Securities)
are “restricted securities,” as such term is defined in Rule 144 promulgated under the Securities Act (“Rule
144”), and they may not be sold pursuant to Rule 144 unless all of the conditions of Rule 144 are met. The undersigned
also understands that, except as otherwise provided in Section 4 hereof, the Company is under no obligation to register
the Securities on his, her or its behalf or to assist them in complying with any exemption from registration under the Securities
Act or applicable state securities laws. The undersigned understands that any sales or transfers of the Securities are further
restricted by state securities laws and the provisions of this Agreement.

 

(g)        The undersigned
understands and agrees that the certificates for the Securities shall bear substantially the following legend until (i) the Securities
(including the Underlying Securities) shall have been registered under the Securities Act and effectively disposed of in accordance
with a registration statement that has been declared effective or (ii) in the opinion of counsel for the Company, the Securities
(including the Underlying Securities) may be sold without registration under the Securities Act, as well as any applicable “blue
sky” or state securities laws:

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE
SECURITIES LAWS. SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES AND MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER
SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FILED BY THE ISSUER WITH THE U.S.
SECURITIES AND EXCHANGE COMMISSION COVERING SUCH SECURITIES UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE
ISSUER THAT SUCH REGISTRATION IS NOT REQUIRED.

 

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(h)         No
representations or warranties have been made to the undersigned by the Company or any of its respective officers, employees, counsel,
agents, sub-agents, affiliates or subsidiaries, other than any representations of the Company contained in the transaction agreements
in connection with the Offering, and in subscribing for the Securities the undersigned is not relying upon any representations
other than those contained in the transaction agreements in connection with the Offering.

 

(i)          The
undersigned understands and acknowledges that his, her or its purchase of the Securities is a speculative investment that involves
a high degree of risk and the potential loss of the undersigned’s entire investment and has carefully read and considered
the matters set forth in the agreements in connection with the Offering, and, in particular, acknowledges that the Company has
a limited operating history.

 

(j)          The
undersigned’s overall commitment to investments that are not readily marketable is not disproportionate to the undersigned’s
net worth, and an investment in the Securities will not cause such overall commitment to become excessive.

 

(k)         Neither
the SEC nor any state securities commission has approved the Underlying Securities or passed upon or endorsed the merits of the
Offering or confirmed the accuracy or determined the adequacy of the in the agreements in connection with the Offering. The agreements
in connection with the Offering have not been reviewed by any federal, state or other regulatory authority. Any representation
to the contrary is a crime.

 

(l)          The
undersigned and his, her or its Advisors, if any, have had a reasonable opportunity to ask questions of and receive answers from
a person or persons acting on behalf of the Company concerning the offering of the Securities and the business, financial condition,
results of operations and prospects of the Company, and all such questions have been answered to the full satisfaction of the undersigned
and his, her or its Advisors, if any.

 

(m)      The undersigned is unaware
of, is in no way relying on, and did not become aware of the offering of the Securities through or as a result of, any form of
general solicitation or general advertising including, without limitation, any article, notice, advertisement or other communication
published in any newspaper, magazine or similar media or broadcast over television or radio, or electronic mail over the Internet,
in connection with the offering and sale of the Securities and is not subscribing for Securities and did not become aware of the
offering of the Securities through or as a result of any seminar or meeting to which the undersigned was invited by, or any solicitation
of a subscription by, a person not previously known to the undersigned in connection with investments in securities generally.

 

(n)         The
undersigned has taken no action which would give rise to any claim by any person for brokerage commissions, finders, fees or the
like relating to this Agreement or the transactions contemplated hereby (other than commissions to be paid by the Company to BTIG,
LLC (the “Placement Agent”) pursuant to the terms of the September 6, 2013 engagement letter by the Company and the
Placement Agent which engagement contemplates the following compensation, among other things: (i) an eight (8%) percent cash commission
on the gross proceeds of this Offering, (ii) a warrant to acquire shares of the Company’s common stock which number of shares
shall be equivalent to three (3%) percent of the total common-equivalent shares sold in this Offering on the terms and provisions
substantially similar to the Warrants, including the same registration rights, and (iii) plus certain out of pocket expenses and
legal fees.

 

(o)         The
undersigned is not relying on the Company or any of its respective employees, agents or sub-agents with respect to the legal, tax,
economic and related considerations of an investment in the Securities, and the undersigned has relied on the advice of, or has
consulted with, only his, her or its own Advisors.

 

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(p)         The
undersigned acknowledges that any estimates or forward-looking statements or projections included in the Transaction Documents
were prepared by the future management of the Company in good faith, but that the attainment of any such projections, estimates
or forward-looking statements cannot be guaranteed by the Company or its respective management and should not be relied upon.

 

(q)         No
oral or written representations have been made, or oral or written information furnished, to the undersigned or his, her or its
Advisors, if any, in connection with the offering of the Securities which are in any way inconsistent with the information contained
in the agreements in connection with the Offering.

 

(r)          (For
ERISA plans only) The fiduciary of the ERISA plan (the “Plan”) represents that such fiduciary has been informed
of and understands the Company’s investment objectives, policies and strategies, and that the decision to invest “plan
assets” (as such term is defined in ERISA) in the Company is consistent with the provisions of ERISA that require diversification
of plan assets and impose other fiduciary responsibilities. The subscriber or Plan fiduciary (a) is responsible for the decision
to invest in the Company; (b) is independent of the Company and any of its affiliates; (c) is qualified to make such investment
decision; and (d) in making such decision, the subscriber or Plan fiduciary has not relied primarily on any advice or recommendation
of the Company or any of its affiliates or its agents.

 

4.             Registration
Rights

 

The
undersigned shall have registration rights with respect to the Securities issued and held of record by the undersigned and the
shares of common stock underlying such Securities, as set forth in greater detail in the Registration Rights Agreement (the “Registration
Rights Agreement”) attached hereto as Exhibit B.

 

5.             Insider
Trading Prohibition

 

Until the filing by
the Company of a Current Report on Form 8-K (which filing with the SEC shall be made within four (4) business days of the date
on the signature page of this Agreement) describing, among other things, the Offering, the undersigned hereby agrees to refrain
from (A) engaging in any transactions with respect to the capital stock of the Company or securities exercisable or convertible
into or exchangeable for any shares of capital stock of the Company, and (B) entering into any transaction which would have the
same effect, or entering into any swap, hedge or other arrangement that transfers, in whole or in part, any of the economic consequences
of ownership of the capital stock of the Company.

 

6.             Reserved.

 

7.             Notices
to Subscribers

 

(a)         THE UNDERLYING
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE AND ARE BEING OFFERED AND SOLD
IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. THE SHARES HAVE NOT BEEN APPROVED
OR DISAPPROVED BY THE SEC, ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES
PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE OFFERING DOCUMENTATION. ANY REPRESENTATION
TO THE CONTRARY IS UNLAWFUL.

 

(b)         IN MAKING
AN INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY CREATING THE SECURITIES AND THE TERMS
OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. THE SECURITIES HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL OR STATE SECURITIES
COMMISSION OR REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY
OF THE OFFERING DOCUMENTS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THE UNITS ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY
AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT, AND THE APPLICABLE STATE SECURITIES
LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE MADE AWARE THAT THEY ARE REQUIRED TO BEAR THE FINANCIAL
RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.

 

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(c)        THE PRESENCE
OF A LEGEND FOR ANY GIVEN STATE REFLECTS ONLY THAT A LEGEND MAY BE REQUIRED BY THAT STATE AND SHOULD NOT BE CONSTRUED TO MEAN AN
OFFER OR SALE MAY BE MADE IN ANY PARTICULAR STATE. THE OFFERING DOCUMENTS MAY BE SUPPLEMENTED BY ADDITIONAL STATE LEGENDS. IF YOU
ARE UNCERTAIN AS TO WHETHER OR NOT OFFERS OR SALES MAY BE LAWFULLY MADE IN ANY GIVEN STATE, YOU ARE ADVISED TO CONTACT THE COMPANY
FOR A CURRENT LIST OF STATES IN WHICH OFFERS OR SALES MAY BE LAWFULLY MADE. AN INVESTMENT IN THIS OFFERING IS SPECULATIVE AND INVOLVES
A HIGH DEGREE OF FINANCIAL RISK. ACCORDINGLY, PROSPECTIVE INVESTORS SHOULD CONSIDER ALL OF THE RISK FACTORS DESCRIBED HEREIN.

 

(d)       THE SALE OF THE SECURITIES
THAT ARE THE SUBJECT OF THIS OFFERING HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA
AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH
QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF THE SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25000, 25102 OR 25105 OF THE
CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS
THE SALE IS SO EXEMPT.

 

(e)       FOR FLORIDA RESIDENTS ONLY.
EACH INVESTOR HAS THE RIGHT TO CANCEL AND WITHDRAW HIS SUBSCRIPTION AGREEMENT AND HIS PURCHASE OF INTERESTS UPON WRITTEN NOTICE
TO THE FUND GIVEN WITHIN THREE BUSINESS DAYS FOLLOWING THE LATER OF THE MAKING OF THE FIRST PAYMENT BY THE INVESTOR FOR THE SECURITIES
PURCHASED OR THE COMMUNICATION OF THE AVAILABILITY OF SUCH PRIVILEGE TO THE INVESTOR. UPON SUCH CANCELLATION OR WITHDRAWAL, THE
INVESTOR WILL HAVE NO OBLIGATION OR DUTY TO THE FUND OR TO ANY OTHER PERSON, AND WILL BE ENTITLED TO THE FULL RETURN OF ANY AMOUNTS
PAID BY HIM OR HER PURSUANT TO HIS OR HER SUBSCRIPTION AGREEMENT. ANY NOTICE OF CANCELLATION OR WITHDRAWAL SHOULD BE MADE BY CERTIFIED
OR REGISTERED MAIL, AND WILL BE EFFECTIVE UPON DEPOSIT IN THE UNITED STATES MAIL, POSTAGE OR OTHER TRANSMITTAL FEES PAID.

 

8.            Right of Participation.

 

Subject
to the terms and conditions contained herein, the Company hereby grants to the investors in this Offering, as a group (such that
no individual investor in this Offering shall have the right of participation contemplated by this provision qua an individual
investor), a right of participation in the amount of up to thirty five percent (35%) of the gross amount raised in a Subsequent
Offering (as defined herein) with respect to future sales by the Company of its equity securities to third party investors (each
a “Subsequent Financing”). The right of participation under this Section shall terminate and be of no further force
or effect on the ninth (9th) month anniversary of the Closing. Each time the Company proposes to offer any shares of,
or securities convertible into or exercisable for any shares of, any class of its capital stock, in any Subsequent Financing, the
Company shall, at least five (5) business days prior to the closing of a Subsequent Financing, deliver to the undersigned a written
notice of its intention to effect a Subsequent Financing, which notice shall ask the investors in this Offering if they want to
review the details of such financing. Such notice shall describe in reasonable detail the proposed terms of such Subsequent Financing,
the amount of proceeds intended to be raised thereunder and the person or persons through or with whom such Subsequent Financing
is proposed to be effected and shall include a term sheet or similar document relating thereto as an attachment. If the undersigned
desires to participate in such Subsequent Financing, it must provide written notice to the Company by not later than 5:30 p.m.
(New York City time) on the fifth (5th) business after all of the holders of the Notes have received such notices that the undersigned
is willing to participate in the Subsequent Financing, the amount of participation up to the pro rata percentage and representing
and warranting that the undersigned has such funds ready, willing, and available for investment on the terms set forth in the Notice.
If the Company receives no such notice from the undersigned as of 5:30 P.M. (New York City time) on such fifth (5th) business day,
the undersigned shall be deemed to have notified the Company that it does not elect to participate.

 

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9.             Miscellaneous
Provisions

 

(a)         Confidential
Information. The subscriber agrees that no portion of the Confidential Information (as defined below) shall be disclosed to
third parties, except as may be required by law, without the prior express written consent of the Company; provided, however,
that the subscriber may share such information with such of its officers and professional advisors as may need to know such information
to assist the subscriber in its evaluation thereof on the condition that such parties agree to be bound by the terms hereof. “Confidential
Information” means the existence and terms of this Agreement, the transactions contemplated hereby, and the disclosures
and other information contained herein or in the agreements in connection with the Offering, excluding any disclosures or other
information that are publicly available.

 

(b)         Modification.
Neither this Agreement, nor any provisions hereof, shall be waived, modified, discharged or terminated except by an instrument
in writing signed by the party against whom any waiver, modification, discharge or termination is sought.

 

(c)         Survival.
The undersigned’s representations and warranties made in this Agreement shall survive the execution and delivery of this
Agreement and the delivery of the Securities.

 

(d)         Notices.
Any party may send any notice, request, demand, claim or other communication hereunder to the undersigned at the address set forth
on the signature page of this Agreement or to the Company at the address set forth above using any means (including personal delivery,
expedited courier, messenger service, fax, ordinary mail or electronic mail), but no such notice, request, demand, claim or other
communication will be deemed to have been duly given unless and until it actually is received by the intended recipient. Any party
may change the address to which notices, requests, demands, claims and other communications hereunder are to be delivered by giving
the other parties written notice in the manner herein set forth.

 

(e)         Binding
Effect. Except as otherwise provided herein, this Agreement shall be binding upon, and inure to the benefit of, the parties
to this Agreement and their heirs, executors, administrators, successors, legal representatives and permitted assigns. If the undersigned
is more than one person or entity, the obligation of the undersigned shall be joint and several and the agreements, representations,
warranties and acknowledgments contained herein shall be deemed to be made by, and be binding upon, each such person or entity
and his or its heirs, executors, administrators, successors, legal representatives and permitted assigns. This Agreement sets forth
the entire agreement and understanding between the parties as to the subject matter thereof and merges and supersedes all prior
discussions, agreements and understandings of any and every nature among them, as to the subject matter hereof.

 

(f)          Assignability.
This Agreement is not transferable or assignable by the undersigned.

 

(g)         Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without giving
effect to conflicts of law principles; provided, however, in the event that any legal proceeding is brought against the
Maryland Venture Fund (Department of Business and Economic Development of the State of Maryland (hereinafter referred to as the
“DBED”), or the State of Maryland in connection with such entity’s investment hereunder, the parties to any such
dispute agree to submit to the venue of the Maryland courts for purposes of resolving any and all such disputes.

 

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(h)         Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

 

 (i)         Further
Assurances. Each of the parties shall execute such documents and perform such further acts (including, without limitation,
obtaining any consents, exemptions, authorizations, or other actions by, or giving any notices to, or making any filings with,
any governmental authority or any other person) as may be reasonably required or desirable to carry out or to perform the provisions
of this Agreement.

 

 (j)         Severability.
If any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal
or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions hereof shall not be in any way impaired, unless the provisions held invalid, illegal or
unenforceable shall substantially impair the benefits of the remaining provisions hereof.

 

[Remainder of page left intentionally
blank - signature pages follow]

 

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ALL SUBSCRIBERS MUST COMPLETE THIS PAGE

 

IN WITNESS WHEREOF, the undersigned has
executed this Agreement on the ___ day of _______ 2013.

 

 

	________________________	x $____ for each _____	= $_____________________
	Securities subscribed for	 	     Aggregate Purchase Price

 

 

Manner in which title is to be held (please check one):

 

	1.	___	 	Individual	7.	___	 	
        Trust/Estate/Pension or Profit sharing Plan

        Date Opened:______________

	2.	___	 	Joint Tenants with Right of Survivorship	8.	___	 	
        As a Custodian for

        ________________________________

        Under the Uniform Gift to Minors Act of the State of

        ________________________________

	3.	___	 	Community Property	9.	___	 	Married with Separate Property
	4.	___	 	Tenants in Common	10.	___	 	Keogh
	5.	___	 	Corporation/Partnership/ Limited Liability Company	11.	___	 	Tenants by the Entirety
	6.	___	 	IRA	 	 	 	 

 

 

IF MORE THAN ONE SUBSCRIBER, EACH SUBSCRIBER
MUST SIGN.

INDIVIDUAL SUBSCRIBERS MUST COMPLETE PAGE
11.

SUBSCRIBERS WHICH ARE ENTITIES MUST COMPLETE
PAGE 12.

 

    	10

    	 

    

 

EXECUTION BY NATURAL PERSONS

 

	_____________________________________________________________________________

Exact Name in Which Title is to be Held

	 	 	 	 	 
	 	 	 	 	 
	
        Name (Please Print)
	 	 	
        Name of Additional Purchaser
	 
	 	 	 	 	 
	 	 	 	 	 
	
        Residence: Number and Street
	 		
        Address of Additional Purchaser
	 
	 	 	 	 	 
	 	 	 	 	 
	
        City, State and Zip
Code
	 	 	
        City, State and Zip Code
	 
	 	 	 	 	 
	 	 	 	 	 
	
        Social Security Number
	 	 	
        Social Security Number
	 
	 	 	 	 	 
	 	 	 	 	 
	
        

        Telephone Number
	 	 	
        Telephone Number
	 
	 	 	 	 	 
	 	 	 	 	 
	
        

        Fax Number (if available)
	 	 	
        Fax Number (if available)
	 
	 	 	 	 	 
	 	 	 	 	 
	
        

        E-Mail (if available)
	 	 	
        E-Mail (if available)
	 
	 	 	 	 	 
	 	 	 	 	 
	
        (Signature)
	 	 	
        (Signature of Additional Purchaser)
	 

  

ACCEPTED this __ day of _________ 2013, on behalf
        of the Company.

 

	 		 
	 	 	 	 
	 	 	 	 
	 	By:		 
	 	 	Name:	 
	 	 	Title:	 

  

    	11

    	 

    

 

EXECUTION BY SUBSCRIBER WHICH IS AN ENTITY

(Corporation, Partnership, LLC, Trust, Etc.)

	_____________________________________________________________________________

Name of Entity (Please Print)

	 	 	 	 	 
	 	 	 	 	 
	
        Date of Incorporation or Organization:
	 	 	
        
	 
	 	 	 	 	 
	State of Principal Office:	 	 	 	 
	 	 	 	 	 
	Federal Taxpayer Identification Number:	 	 	 	 

 

	 	 	 	 	 
	 	 	 	 	 
	
        Office Address	 	
        
	 
	 	 	 	 	 
	 	 	 	 	 
	
        City, State and Zip
Code
	 	 	
        
	 
	 	 	 	 	 
	 	 	 	 	 
	
        

        Telephone Number
	 	 	
        
	 
	 	 	 	 	 
	 	 	 	 	 
	
        

        Fax Number (if available)
	 	 	
        	 
	 	 	 	 	 
	 	 	 	 	 
	
        

        E-Mail (if available)
	 	 	
        	 
	 	 	 	 	 

  

	By:	 	 
	 	Name:	 
	 	Title:	 

  

ACCEPTED this __ day of _________ 2013, on behalf
        of the Company.

 

	 	 	 	 
	 	By:		 
	 	 	Name:	 
	 	 	Title:	 

   

    	12

    	 

    

 

 

Exhibit A

 

CONFIDENTIAL INVESTOR QUESTIONNAIRE

 

    	13

    	 

    

 

Exhibit B

 

REGISTRATION RIGHTS AGREEMENT

 

    	14

    	 

    

 

Exhibit C

 

QUARTERLY REPORT ON FORM 10-Q FOR
THE PERIOD ENDED SEPTEMBER 30, 2013

 

 

42717-0000

DC\80701305.6

 

    	15FORM REGISTRATION RIGHTS AGREEMENT

 

 

This Registration Rights
Agreement (the “Agreement”) is made and entered into as of this [_] day of [_], 2013 by and between Cytomedix,
Inc., a Delaware corporation (the “Company”), and the parties set forth on
the signature pages and Exhibit A hereto (each, a “Purchaser” and collectively, the “Purchasers”).

 

RECITALS

 

WHEREAS, the
Company is offering to accredited investors in a private placement transaction (the “Offering”) in compliance
with Rule 506 of Regulation D of the Securities Act of 1933, as amended (the “Securities Act”), up consisting
of: (i) 10% Subordinated Convertible Promissory Notes (the ”Notes”) and (ii) a warrant to purchase shares of
Common Stock (a “Warrant”). Each Warrant shall be exercisable for the number of shares of Common Stock set forth in
the Warrant at a price of $[_] per share (each, a “Warrant” and together with the shares underlying the Notes,
the “Underlying Securities”) upon the terms and conditions and subject to the provisions hereinafter set forth;
and

 

WHEREAS, each
Purchaser, in connection with its intent to purchase Securities in the Offering, has executed and delivered a Subscription Agreement
(as hereinafter defined) and a Confidential Investor Questionnaire (the “Investor Questionnaire”) memorializing
such Purchaser’s agreement to purchase and the Company’s agreement to sell the number of Securities set forth therein
at the Purchase Price, and this Agreement, pursuant to which the Company will provide certain registration rights related to the
Underlying Securities on the terms set forth herein (the Subscription Agreement, Investor Questionnaire and this Agreement are
collectively referred to as the “Transaction Documents”).

 

NOW, THEREFORE,
in consideration of the mutual promises, representations, warranties, covenants, and conditions set forth herein, the parties mutually
agree as follows:

 

1.           Certain Definitions. As used in this Agreement,
the following terms shall have the following respective meanings:

 

“Aggregate
Purchase Price” means the purchase price set forth in the Subscription Agreement.

 

“Approved
Market” means the NASD Over-The-Counter Bulletin Board, the Nasdaq Global Market, the Nasdaq Capital Market, the New
York Stock Exchange, Inc. or the NYSE Mkt LLC.

 

“Blackout
Period” means, with respect to a registration, a period, in each case commencing on the day immediately after the Company
notifies the Purchasers that they are required, because of the occurrence of an event of the kind described in Section 4(f)
hereof, to suspend offers and sales of Registrable Securities during which the Company, in the good faith judgment of its board
of directors, determines (because of the existence of, or in anticipation of, any acquisition, financing activity, or other transaction
involving the Company, or the unavailability for reasons beyond the Company's control of any required financial statements, disclosure
of information which is in its best interest not to publicly disclose, or any other event or condition of similar significance
to the Company) that the registration and distribution of the Registrable Securities to be covered by such registration statement,
if any, would be seriously detrimental to the Company and its stockholders and ending on the earlier of (1) the date upon which
the material non-public information commencing the Blackout Period is disclosed to the public or ceases to be material and (2)
such time as the Company notifies the selling Holders that the Company will no longer delay such filing of the Registration Statement,
recommence taking steps to make such Registration Statement effective, or allow sales pursuant to such Registration Statement to
resume; provided, however, that (a) the Company shall limit its use of Blackout Periods, in the aggregate, to 30
Trading Days in any 12-month period and (b) no Blackout Period may commence sooner than 60 days after the end of a prior Blackout
Period.

 

    	1

    	 

    

 

“Business
Day” means any day of the year, other than a Saturday, Sunday, or other day on which the Commission is required or authorized
to close.

 

“Closing Date”
means the date of the Closing of the Offering, as determined by the Company and the Purchasers.

 

“Commission”
means the Securities and Exchange Commission or any other federal agency at the time administering the Securities Act.

 

“Common Stock”
means the common stock of the Company and any and all shares of capital stock or other equity securities of: (i) the Company which
are added to or exchanged or substituted for the Common Stock by reason of the declaration of any stock dividend or stock split,
the issuance of any distribution or the reclassification, readjustment, recapitalization or other such modification of the capital
structure of the Company; and (ii) any other corporation, now or hereafter organized under the laws of any state or other governmental
authority, with which the Company is merged, which results from any consolidation or reorganization to which the Company is a party,
or to which is sold all or substantially all of the shares or assets of the Company, if immediately after such merger, consolidation,
reorganization or sale, the Company or the stockholders of the Company own equity securities having in the aggregate more than
50% of the total voting power of such other corporation.

 

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

 

“Family Member”
means (a) with respect to any individual, such individual's spouse, any descendants (whether natural or adopted), any trust all
of the beneficial interests of which are owned by any of such individuals or by any of such individuals together with any organization
described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, the estate of any such individual, and any corporation,
association, partnership or limited liability company all of the equity interests of which are owned by those above described individuals,
trusts or organizations and (b) with respect to any trust, the owners of the beneficial interests of such trust.

 

“Holder”
means each Purchaser or any of such Purchaser's respective successors and Permitted Assignees who acquire rights in accordance
with this Agreement with respect to the Registrable Securities directly or indirectly from a Purchaser or from any Permitted Assignee.

 

“Investor
Questionnaire” has the meaning set forth in the Recitals of this Agreement.

 

“Majority
Holders” means at any time Holders representing a majority of the Registrable Securities.

 

“Offering”
has the meaning set forth in the Recitals of this Agreement.

 

“Permitted
Assignee” means (a) with respect to a partnership, its partners or former partners in accordance with their partnership
interests, (b) with respect to a corporation, its stockholders in accordance with their interest in the corporation, (c) with respect
to a limited liability company, its members or former members in accordance with their interest in the limited liability company,
(d) with respect to an individual party, any Family Member of such party, (e) an entity that is controlled by, controls, or is
under common control with a transferor or (f) a party to this Agreement.

 

“Purchased
Securities” has the meaning set forth in the Recitals of this Agreement.

 

The terms “register,”
“registered,” and “registration” refer to a registration effected by preparing and filing a registration
statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement.

 

    	2

    	 

    

 

“Registrable
Securities” means the shares of Common Stock issued or issuable from time to time upon the conversion of the Notes, the
shares of Common Stock issued or issuable from time to time upon the exercise of the Warrants, and the shares of Common
Stock issued or issuable from time to time upon the exercise of the warrants issued to the placement agent for the Offering,
but excluding (i) any Registrable Securities that have been publicly sold or may be sold immediately without registration under
the Securities Act either pursuant to Rule 144 of the Securities Act or otherwise; (ii) any Registrable Securities sold by a person
in a transaction pursuant to a registration statement filed under the Securities Act or (iii) any Registrable Securities that are
at the time subject to an effective registration statement under the Securities Act.

 

“Registration
Default Date” means the date that is ninety (90) days following the Closing Date (as the term is defined in the Subscription
Agreement) or one hundred fifty (150) days following the Closing Date in the event that the Registration Statement is reviewed
by the Commission.

 

“Registration
Default Period” means the period following the Registration Default Date during which any Registration Event occurs and
is continuing.

 

“Registration
Event” means the occurrence of any of the following events:

 

(a)        the Company fails to file with
the Commission the Registration Statement on or before the Registration Filing Date;

 

(b)        the Registration Statement
is not declared effective by the Commission on or before the Registration Default Date; or

 

(c)        after the SEC Effective Date,
sales cannot be made pursuant to the Registration Statement for any reason (including without limitation by reason of a stop order,
or the Company's failure to update the Registration Statement).

 

“Registration
Filing Date” means the date that is thirty (30) days after the Closing.

 

“Registration
Statement” means the registration statement that the Company is required to file pursuant to this Agreement to register
the Registrable Securities.

 

“Rule 144”
means Rule 144 promulgated by the Commission under the Securities Act.

 

“Securities
Act” means the Securities Act of 1933, as amended, or any similar federal statute promulgated in replacement thereof,
and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time.

 

“SEC Effective
Date” means the date the Registration Statement is declared effective by the Commission.

 

“Securities”
has the meaning set forth in the Recitals of this Agreement.

 

“Subscription
Agreement” means each of the subscriptiona dated as of the date hereof by and between the Company and each of the Purchasers
setting forth the terms and conditions of the Offering.

 

“Trading Day”
means any day on which the national securities exchange, the Nasdaq Stock Market, the NYSE Amex LLC, the NASD Over the Counter
Bulletin Board or such other securities market or quotation system, which at the time constitutes the principal securities market
for the Common Stock, is open for general trading of securities.

 

“Transaction
Documents” has the meaning set forth in the Recitals of this Agreement.

 

    	3

    	 

    

 

2.         Term. This Agreement
shall continue in full force and effect for a period of two (2) years from the Effective Date, unless terminated sooner hereunder.

 

3.         Registration. Not
later than the Registration Filing Date, the Company shall file with the Commission a registration statement on Form S-1, or other
applicable form, relating to the resale by the Holders of all of the Registrable Securities, and the Company shall use its commercially
reasonable best efforts to cause such registration statement to be declared effective prior to the Registration Default Date; provided,
however, that the Company shall not be obligated to effect any such registration, qualification, or compliance pursuant
to this Section, or keep such registration effective pursuant to the terms hereunder during any Blackout Period, in which case
the Registration Filing Date shall be extended to the date immediately following the last day of such Blackout Period.

 

Prior to the earlier
of the SEC Effective Date or the date on which there are no remaining Registrable Securities, the Company will not, without the
prior written consent of the Majority Holders, file or request the acceleration of any other registration statement filed with
the Commission, and during any time subsequent to the SEC Effective Date when the Registration Statement for any reason is not
available for use by any Holder for the resale of any Registrable Securities, the Company shall not, without the prior written
consent of the Majority Holders, file any other registration statement or any amendment thereto with the Commission under the Securities
Act or request the acceleration of the effectiveness of any other registration statement previously filed with the Commission,
other than (i) any registration statement on Form S-8 or Form S-4 and (ii) any registration statement or amendment which the Company
is required to file or as to which the Company is required to request acceleration pursuant to any obligation in effect on the
date of execution and delivery of this Agreement.

 

If
a Registration Event occurs, then the Company will make payments to each Purchaser (a “Qualified Purchaser”),
as partial liquidated damages for the minimum amount of damages to the Qualified Purchaser by reason thereof, and not as a penalty,
at a rate equal to 1% of the Aggregate Purchase Price of the Registrable Securities then held by a Qualified Purchaser monthly,
for each calendar month of the Registration Default Period (pro rated for any period less than 30 days), up to a maximum, together
with all payments made by the Company to such Purchaser pursuant hereto, of 10% of the Aggregate Purchase Price of the Securities
purchased by such Purchaser; provided, however, if a Registration Event occurs (or is continuing) on a date more
than six months after the Qualified Purchaser acquired the Registrable Securities (and thus the six month holding period under
Rule 144(d) has elapsed), liquidated damages shall be paid only with respect to that portion of the Qualified Purchaser's Registrable
Securities that cannot then be immediately resold in reliance on Rule 144, assuming for such Warrant exercises the use of
such Warrants cashless exercise feature in accordance with the terms of the Warrants. Each such payment
shall be due and payable within ten days after the end of each calendar month of the Registration Default Period until the termination
of the Registration Default Period and within ten days after such termination. Such payments shall constitute the Qualified Purchaser's
exclusive remedy for such events. The Registration Default Period shall terminate upon (i) the filing of the Registration Statement
in the case of clause (a) of the definition of Registration Event, (ii) the SEC Effective Date in the case of clause (b) of the
definition of Registration Event assuming for such Warrant exercises the use of such Warrants cashless exercise feature
in accordance with the terms of the Warrants, (iii) the ability of the Qualified Purchaser to effect
sales pursuant to the Registration Statement in the case of clause (c) of the definition of Registration Event, (iv) the listing
or inclusion and/or trading of the Common Stock on an Approved Market, as the case may be, in the case of clause (d) of the definition
of Registration Event, and (v) in the case of the events described in clauses (b) and (c) of the definition of Registration Event,
the earlier termination of the Registration Default Period. The amounts payable as partial liquidated damages pursuant to this
paragraph shall be payable (i) in lawful money of the United States or, (ii) at the Company’s sole election, in shares of
Common Stock, which such shares shall be issued at the then current market price at the time payment becomes due. Amounts payable
as liquidated damages to each Qualified Purchaser hereunder with respect to each share of Registrable Securities shall cease when
the Qualified Purchaser no longer holds such shares of Registrable Securities or such shares of Registrable Securities can be immediately
sold by the Qualified Purchaser in reliance on Rule 144.

 

    	4

    	 

    

 

       4.          Registration Procedures.
The Company will keep each Holder reasonably advised as to the filing and effectiveness of the Registration Statement. At its expense
with respect to the Registration Statement, the Company will:

 

(a)         prepare
and file with the Commission with respect to the Registrable Securities, a registration statement on Form S-1, or any other form
for which the Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be available
for the sale of the Registrable Securities in accordance with the intended methods of distribution thereof, and use its commercially
reasonable efforts to cause such registration statement to become and remain effective at for a period of nine (9) months or for
such shorter period ending on the earlier to occur of (i) the sale of all Registrable Securities and (ii) the availability under
Rule 144 for the Holder to sell the Registrable Securities (in either case, the “Effectiveness Period”);

 

(b)         if a
registration statement is subject to review by the Commission, promptly respond to all comments and diligently pursue resolution
of any comments to the satisfaction of the Commission;

 

(c)         prepare
and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection
therewith as may be necessary to keep such registration statement effective during the Effectiveness Period;

 

(d)         furnish,
without charge, to each Holder of Registrable Securities covered by such registration statement (i) a reasonable number of copies
of such registration statement (including any exhibits thereto other than exhibits incorporated by reference), each amendment and
supplement thereto as such Holder may reasonably request, (ii) such number of copies of the prospectus included in such registration
statement (including each preliminary prospectus and any other prospectus filed under Rule 424 under the Securities Act) as such
Holders may reasonably request, in conformity with the requirements of the Securities Act, and (iii) such other documents as such
Holder may require to consummate the disposition of the Registrable Securities owned by such Holder, but only during the Effectiveness
Period;

 

(e)        use
its commercially reasonable best efforts to register or qualify such registration under such other applicable securities or blue
sky laws of such jurisdictions as any Holder of Registrable Securities covered by such registration statement reasonably requests
and as may be necessary for the marketability of the Registrable Securities (such request to be made by the time the applicable
registration statement is deemed effective by the Commission) and do any and all other acts and things necessary to enable such
Holder to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Holder; provided,
however, that the Company shall not be required to (i) qualify generally to do business in any jurisdiction where it would
not otherwise be required to qualify but for this paragraph, (ii) subject itself to taxation in any such jurisdiction, or (iii)
consent to general service of process in any such jurisdiction;

 

(f)         as promptly
as practicable after becoming aware of such event, notify each Holder of Registrable Securities, the disposition of which requires
delivery of a prospectus relating thereto under the Securities Act, of the happening of any event, which comes to the Company's
attention, that will after the occurrence of such event cause the prospectus included in such registration statement, if not amended
or supplemented, to contain an untrue statement of a material fact or an omission to state a material fact required to be stated
therein or necessary to make the statements therein not misleading and the Company shall promptly thereafter prepare and furnish
to such Holder a supplement or amendment to such prospectus (or prepare and file appropriate reports under the Exchange Act) so
that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement
of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein
not misleading, unless suspension of the use of such prospectus otherwise is authorized herein or in the event of a Blackout Period,
in which case no supplement or amendment need be furnished (or Exchange Act filing made) until the termination of such suspension
or Blackout Period;

 

    	5

    	 

    

 

(g)        comply,
and continue to comply during the Effectiveness Period, in all material respects with the Securities Act and the Exchange Act and
with all applicable rules and regulations of the Commission with respect to the disposition of all securities covered by such registration
statement;

 

(h)        as promptly
as practicable after becoming aware of such event, notify each Holder of Registrable Securities being offered or sold pursuant
to the Registration Statement of the issuance by the Commission of any stop order or other suspension of effectiveness of the Registration
Statement;

 

(i)         use
its best efforts to cause all the Registrable Securities covered by the Registration Statement to be quoted on the Approved Market
on which securities of the same class or series issued by the Company are then listed or traded;

 

(j)         provide
a transfer agent and registrar, which may be a single entity, for the shares of Common Stock at all times;

 

(k)        cooperate
with the Holders of Registrable Securities being offered pursuant to the Registration Statement to issue and deliver, or cause
its transfer agent to issue and deliver, certificates representing Registrable Securities to be offered pursuant to the Registration
Statement within a reasonable time after the delivery of certificates representing the Registrable Securities to the transfer agent
or the Company, as applicable, and enable such certificates to be in such denominations or amounts as the Holders may reasonably
request and registered in such names as the Holders may request;

 

(l)         during
the Effectiveness Period, refrain from bidding for or purchasing any Common Stock or any right to purchase Common Stock or attempting
to induce any person to purchase any such security or right if such bid, purchase or attempt would in any way limit the right of
the Holders to sell Registrable Securities by reason of the limitations set forth in Regulation M under the Exchange Act; and

 

(m)       take
all other reasonable actions necessary to expedite and facilitate the disposition by the Holders of the Registrable Securities
pursuant to the Registration Statement.

 

5.         Suspension of Offers and
Sales. Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described
in Section 4(f) hereof or of the commencement of an Blackout Period, such Holder shall discontinue the disposition of Registrable
Securities included in the Registration Statement until such Holder's receipt of the copies of the supplemented or amended prospectus
contemplated by Section 4(f) hereof or notice of the end of the Blackout Period, and, if so directed by the Company, such
Holder shall deliver to the Company (at the Company's expense) all copies (including, without limitation, any and all drafts),
other than permanent file copies, then in such Holder's possession, of the prospectus covering such Registrable Securities current
at the time of receipt of such notice.

 

6.         Registration Expenses.
The Company shall pay all expenses in connection with any registration obligation provided herein, including, without limitation,
all registration, filing, stock exchange fees, printing expenses, all fees and expenses of complying with securities or blue sky
laws, and the fees and disbursements of counsel for the Company and of its independent accountants; provided that, in any underwritten
registration, each party shall pay for its own underwriting discounts and commissions and transfer taxes. Except as provided in
this Section and Section 9 hereof, the Company shall not be responsible for the expenses of any attorney or other advisor
employed by a Holder.

 

7.         Assignment of Rights.
No Holder may assign its rights under this Agreement to any party without the prior written consent of the Company; provided,
however, that a Holder may assign its rights under this Agreement without such consent to a Permitted Assignee as long as
(a) such transfer or assignment is effected in accordance with applicable securities laws; (b) such transferee or assignee agrees
in writing to become subject to the terms of this Agreement; and (c) the Company is given written notice by such Holder of such
transfer or assignment, stating the name and address of the transferee or assignee and identifying the Registrable Securities with
respect to which such rights are being transferred or assigned.

 

    	6

    	 

    

 

8.         Information by Holder.
Holders included in any registration shall furnish to the Company such information as the Company may reasonably request in writing
regarding such Holders and the distribution proposed by such Holders.

 

9.         Indemnification. 

 

(a)         In the
event of the offer and sale of Registrable Securities under the Securities Act, the Company shall, and hereby does, indemnify and
hold harmless, to the fullest extent permitted by law, each Holder, its directors, officers, partners, each other person who participates
as an underwriter in the offering or sale of such securities, and each other person, if any, who controls or is under common control
with such Holder or any such underwriter within the meaning of Section 15 of the Securities Act, against any losses, claims, damages
or liabilities, joint or several, and expenses to which the Holder or any such director, officer, partner or underwriter or controlling
person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages, liabilities or expenses
(or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon any untrue statement
of any material fact contained in any registration statement prepared and filed by the Company under which shares of Registrable
Securities were registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained
therein, or any amendment or supplement thereto, or any omission to state therein a material fact required to be stated therein
or necessary to make the statements therein in light of the circumstances in which they were made not misleading, and the Company
shall reimburse the Holder, and each such director, officer, partner, underwriter and controlling person for any legal or any other
expenses reasonably incurred by them in connection with investigating, defending or settling any such loss, claim, damage, liability,
action or proceeding; provided that the Company shall not be liable in any such case (i) to the extent that any such loss, claim,
damage, liability (or action or proceeding in respect thereof) or expense arises out of or is based upon an untrue statement in
or omission from such registration statement, any such preliminary prospectus, final prospectus, summary prospectus, amendment
or supplement in reliance upon and in conformity with written information furnished to the Company through an instrument duly executed
by or on behalf of such Holder specifically stating that it is for use in the preparation thereof or (ii) if the person asserting
any such loss, claim, damage, liability (or action or proceeding in respect thereof) who purchased the Registrable Securities that
are the subject thereof did not receive a copy of an amended preliminary prospectus or the final prospectus (or the final prospectus
as amended or supplemented) at or prior to the written confirmation of the sale of such Registrable Securities to such person because
of the failure of such Holder or underwriter to so provide such amended preliminary or final prospectus and the untrue statement
or omission of a material fact made in such preliminary prospectus was corrected in the amended preliminary or final prospectus
(or the final prospectus as amended or supplemented). Such indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of the Holders, or any such director, officer, partner, underwriter or controlling person and shall survive
the transfer of such shares by the Holder.

 

(b)         As a
condition to including Registrable Securities in any registration statement filed pursuant to this Agreement, each Holder agrees
to be bound by the terms of this Section 9 and to indemnify and hold harmless, to the fullest extent permitted by law, the
Company, its directors and officers, and each other person, if any, who controls the Company within the meaning of Section 15 of
the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Company or any such director
or officer or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages
or liabilities (or actions or proceedings, whether commenced or threatened, in respect thereof) that arises out of or is based
upon an untrue statement in or omission from such registration statement, any such preliminary prospectus, final prospectus, summary
prospectus, amendment or supplement in reliance upon and in conformity with written information furnished to the Holder through
an instrument duly executed by or on behalf of the Company specifically stating that it is for use in the preparation thereof,
and such Holder shall reimburse the Company, and each such director, officer, and controlling person for any legal or other expenses
reasonably incurred by them in connection with investigating, defending, or settling and such loss, claim, damage, liability, action,
or proceeding; provided, however, that such indemnity agreement found in this Section 9 shall in no event
exceed the gross proceeds from the offering received by such Holder. Such indemnity shall remain in full force and effect, regardless
of any investigation made by or on behalf of the Company or any such director, officer or controlling person and shall survive
the transfer by any Holder of such shares.

 

    	7

    	 

    

 

(c)         Promptly
after receipt by an indemnified party of notice of the commencement of any action or proceeding involving a claim referred to in
this Section (including any governmental action), such indemnified party shall, if a claim in respect thereof is to be made against
an indemnifying party, give written notice to the indemnifying party of the commencement of such action; provided that the failure
of any indemnified party to give notice as provided herein shall not relieve the indemnifying party of its obligations under this
Section, except to the extent that the indemnifying party is actually prejudiced by such failure to give notice. In case any such
action is brought against an indemnified party, unless in the reasonable judgment of counsel to such indemnified party a conflict
of interest between such indemnified and indemnifying parties may exist or the indemnified party may have defenses not available
to the indemnifying party in respect of such claim, the indemnifying party shall be entitled to participate in and to assume the
defense thereof, with counsel reasonably satisfactory to such indemnified party and, after notice from the indemnifying party to
such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified
party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof, unless in such
indemnified party's reasonable judgment a conflict of interest between such indemnified and indemnifying parties arises in respect
of such claim after the assumption of the defenses thereof or the indemnifying party fails to defend such claim in a diligent manner,
other than reasonable costs of investigation. Neither an indemnified nor an indemnifying party shall be liable for any settlement
of any action or proceeding effected without its consent. No indemnifying party shall, without the consent of the indemnified party,
consent to entry of any judgment or enter into any settlement, which does not include as an unconditional term thereof the giving
by the claimant or plaintiff to such indemnified party of a release from all liability in respect of such claim or litigation.
Notwithstanding anything to the contrary set forth herein, and without limiting any of the rights set forth above, in any event
any party shall have the right to retain, at its own expense, counsel with respect to the defense of a claim.

 

(d)         In the
event that an indemnifying party does or is not permitted to assume the defense of an action pursuant to Section 9(c) hereof
or in the case of the expense reimbursement obligation set forth in Sections 9(a) and (b) hereof, the indemnification
required by Sections 9(a) and (b) hereof shall be made by periodic payments of the amount thereof during the course
of the investigation or defense, as and when bills received or expenses, losses, damages, or liabilities are incurred.

 

(e)         If the
indemnification provided for in this Section is held by a court of competent jurisdiction to be unavailable to an indemnified party
with respect to any loss, liability, claim, damage or expense referred to herein, the indemnifying party, in lieu of indemnifying
such indemnified party hereunder, shall (i) contribute to the amount paid or payable by such indemnified party as a result of such
loss, liability, claim, damage or expense as is appropriate to reflect the proportionate relative fault of the indemnifying party
on the one hand and the indemnified party on the other (determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or omission relates to information supplied by the indemnifying party or the indemnified party
and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement
or omission), or (ii) if the allocation provided by clause (i) above is not permitted by applicable law or provides a lesser sum
to the indemnified party than the amount hereinafter calculated, not only the proportionate relative fault of the indemnifying
party and the indemnified party, but also the relative benefits received by the indemnifying party on the one hand and the indemnified
party on the other, as well as any other relevant equitable considerations. No indemnified party guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any indemnifying party who was
not guilty of such fraudulent misrepresentation.

 

    	8

    	 

    

 

(f)         Other
Indemnification. Indemnification similar to that specified in this Section (with appropriate modifications) shall be given
by the Company and each Holder of Registrable Securities with respect to any required registration or other qualification of securities
under any federal or state law or regulation or governmental authority other than the Securities Act.

 

       (g)        It
is expressly acknowledged and agreed that in accordance with Maryland law, as summarized in Opinion of the Maryland Attorney General
No. 86-064 dated December 1, 1986, absent already available appropriations to fund indemnification or contribution obligations
that may arise under this Section, any such obligations are conditioned upon the availability of appropriations for use by DBED
(as defined below) at the time the indemnification or contribution obligations arise and are further limited to the extent of
the State of Maryland's statutory waiver of its sovereign immunity.

 

10.       Rule 144. For
a period of at least twelve (12) months following the Closing Date, the Company will use its commercially reasonable best efforts
to timely file all reports required to be filed by the Company after the date hereof under the Securities Act and the Exchange
Act and the rules and regulations adopted by the Commission thereunder, and if the Company is not required to file reports pursuant
to such sections, it will prepare and furnish to the Purchasers and make publicly available in accordance with Rule 144(c) such
information as is required for the Purchasers to sell shares of Common Stock under Rule 144.

 

11.       Independent Nature of
Each Purchaser's Obligations and Rights. The obligations of each Purchaser under this Agreement are several and not joint
with the obligations of any other Purchaser, and each Purchaser shall not be responsible in any way for the performance of the
obligations of any other Purchaser under this Agreement. Nothing contained herein and no action taken by any Purchaser pursuant
hereto, shall be deemed to constitute such 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 this Agreement. Each Purchaser shall be entitled to independently protect and enforce its rights,
including without limitation the rights arising out of this Agreement, and it shall not be necessary for any other Purchaser to
be joined as an additional party in any proceeding for such purpose.

 

12.       Miscellaneous.

 

(a)         Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, both substantive
and remedial, excluding that body of law relating to conflict of laws; provided, however, in the event that any legal proceeding
is brought against the Maryland Venture Fund (Department of Business and Economic Development of the State of Maryland (hereinafter
referred to as the “DBED”), or the State of Maryland in connection with such entity’s investment hereunder, the
parties to any such dispute agree to submit to the venue of the Maryland courts for purposes of resolving any and all such disputes.

 

(b)        Successors
and Assigns. Except as otherwise provided herein, the provisions hereof shall inure to the benefit of, and be binding upon,
the successors, Permitted Assignees, executors and administrators of the parties hereto. In the event the Company merges with,
or is otherwise acquired by, a direct or indirect subsidiary of a publicly traded company, the Company shall condition the merger
or acquisition on the assumption by such parent company of the Company's obligations under this Agreement.

 

(c)         Entire
Agreement. This Agreement constitutes the full and entire understanding and agreement between the parties with regard to
the subjects hereof.

 

    	9

    	 

    

 

(d)         Notices,
etc.  All notices or other communications which are required or permitted under this Agreement shall be in writing and
sufficient if delivered by hand, by facsimile transmission, by registered or certified mail, postage pre-paid, by electronic mail,
or by courier or overnight carrier, to the persons at the addresses set forth below (or at such other address as may be provided
hereunder), and shall be deemed to have been delivered as of the date so delivered:

 

if to the Company to:

 

Cytomedix, Inc.

209
Perry Parkway, Suite 7

Gaithersburg,
MD 20877

Attention: Martin Rosendale, CEO

Telephone No.: 240-499-2680

 

if to the Purchasers:

 

To each Purchaser at the address set forth
on Exhibit A hereto.

 

or at such other address as any party shall have furnished to
the other parties in writing.

 

(e)         Delays
or Omissions. No delay or omission to exercise any right, power or remedy accruing to any Holder, upon any breach or default
of the Company under this Agreement, shall impair any such right, power or remedy of such Holder nor shall it be construed to be
a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereunder occurring;
nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter
occurring. Any waiver, permit, consent or approval of any kind or character on the part of any Holder of any breach or default
under this Agreement, or any waiver on the part of any Holder of any provisions or conditions of this Agreement, must be in writing
and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, or
by law or otherwise afforded to any holder, shall be cumulative and not alternative.

 

(f)         Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be enforceable against the parties actually executing
such counterparts, and all of which together shall constitute one instrument. In the event that any signature is delivered by facsimile
transmission, 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 signature page were an original thereof.

 

(g)        Severability.
In the case any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.

 

(h)        Amendments.
The provisions of this Agreement may be amended at any time and from time to time, and particular provisions of this Agreement
may be waived, with and only with an agreement or consent in writing signed by the Company and the Majority Holders. The Purchasers
acknowledge that by the operation of this Section, the Majority Holders may have the right and power to diminish or eliminate all
rights of the Purchasers under this Agreement.

 

(i)         Compliance.
Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as
applicable to it (unless an exception therefrom is available) in connection with sales of the Registrable Securities pursuant to
a Registration Agreement.

 

[SIGNATURE PAGES FOLLOW]

 

    	10

    	 

    

 

This Registration Rights Agreement is hereby
executed as of the date first above written.

 

	 	Cytomedix, Inc.	 
	 	 	 	 
	 	 	 	 
	 	By:  		 
	 	 	Name: Martin Rosendale

	 
	 	 	Title: Chief Executive Officer

	 

   

    	11

    	 

    

 

This Registration
Rights Agreement is hereby executed as of the date first above written.

 

	 	PURCHASER:	 
	 	 	 
	 	 	 
	 	(PRINT NAME)	 
	 	 	

	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Its:	 	 

    

    	12

    	 

    

 

Exhibit A

 

Purchasers

 

	Purchaser Name	Purchaser Address	Number of Securities 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

42717-0000

DC\80701302.2

 

    	13

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