Document:

EX-10.93

 Exhibit 10.93 

SALE AND EXCLUSIVE LICENSE/ SUPPLY AGREEMENT 

THIS SALE AND EXCLUSIVE LICENSE/ SUPPLY AGREEMENT (this “Agreement”), dated as of the 30th day of July, 2013 (the
“Effective Date”), is made and entered into by and between BIMINI TECHNOLOGIES LLC, located at 3020 Callan Road, San Diego, CA 92121(“Bimini”) and CYTORI THERAPEUTICS, INC., a Delaware
corporation, located at 3020 Callan Road, San Diego, CA 92121(“Cytori”). 
 (Bimini and Cytori may each be individually referred to
herein as a “Party” and collectively as the “Parties”). 
 RECITALS 

A. Cytori has acquired, developed and possesses, through the expenditure of considerable time, effort and money, certain proprietary products and Intellectual
Property Rights (including medical devices, techniques and therapies, know-how, patents, patent applications, technical trade secrets, and business information) either now existing or hereinafter developed in connection with regenerative cell/ADRC
technology, cell/tissue banking technology, adipose tissue processing and preparation technology used to carry out regenerative cell therapies, and autologous fat transplantation (“Cytori Technology”); and 

B. Cytori intends to sell to Bimini and Bimini intends to purchase from Cytori, all rights, title, and interest in and to all Cytori Technology in so far as
it relates to “Standalone Fat Transplantation” which is defined as the clean-up, filtering, elutriation, centrifugation, or dialysis of lipoaspirate for the express purpose of creating and preparing fat grafts for transplantation
(excluding the rights retained pursuant to Section 2.1.2). The Cytori Technology for Standalone Fat Transplantation includes (without limitation) the Puregraft Product Line as described on Exhibit A (the “Puregraft Products”) and the
associated Puregraft trademark. 
 C. Cytori intends to manufacture and supply the Puregraft Products to Bimini during the interim transition period in
which the manufacturing capacity is being transferred to an outside contract manufacturer on the terms and conditions set forth herein; and 
 D. Bimini
intends to manufacture and supply the Puregraft Products and the Standalone Fat Transplantation Products (as defined in Section 2.1.3) to Cytori, for the markets and uses granted to Cytori herein, after completion of the manufacturing capacity
transfer to Bimini, on the terms and conditions set forth herein; and 
 E. Cytori intends to grant to Bimini, and Bimini intends to obtain from Cytori, the
perpetual, irrevocable, exclusive, royalty bearing, global license rights to sell and use 

 
Cytori’s Celution® devices and consumable products including all future generations, comparable derivatives, successors or
alternative adipose derived regenerative cell devices (as described more fully on Exhibit B, hereinafter referred to as the “Celution Products”) for the “Hair Field” (as defined herein below); and 

F. Cytori intends to manufacture and supply the Celution Products to Bimini for the Hair Field in accordance with the terms and conditions set forth herein;
and 
 NOW, THEREFORE, in consideration of the foregoing, the mutual promises herein contained, and for other good and valuable consideration, the receipt
and adequacy of which are acknowledged, the Parties agree as follows: 
  

	1.	DEFINITIONS 

  

	1.1	Defined Terms. As used in this Agreement, the capitalized terms set forth in this Section 1 shall have the following meanings: 

“Affiliate” means, as to any Party, any Person that, directly or indirectly, controls, or is controlled by, or is under
common control with, such Party, where “control” (including, with its correlative meanings, “controlled by” and “under common control with”) means (a) the beneficial ownership of fifty percent (50%) or more of
the outstanding voting securities of a Party, or (b) the possession, directly or indirectly, of the power to direct or cause the direction of management or policies of a Party, whether through the ownership of securities or partnership or other
ownership interests, by contract or otherwise. A corporation, joint venture or partnership in which a Party owns less than fifty percent of the voting and economic benefit shall not constitute an Affiliate. 

“Agreement” shall have the meaning set forth in the Preamble. 

“Business Day” shall mean any day on which banking institutions are open in the United States. 

“Change in Control” shall mean an event in which a Person, whether directly or indirectly through one or more
intermediaries, becomes the owner or holder of fifty one percent (51%) or more of the voting power of a Party, or such other shareholding in a Party so as to enable such Person to direct or cause the direction of management or policies of a
Party. 
 “Cosmetic Market(s)” shall mean sale and use of ADRC’s (as defined in Section 2.1.2) with or
without autologous fat transplantation for purposes not caused by a named medical illness with an associated ICD code but rather for the sole purpose of discretionary appearance enhancement of the normal state for a patient and/or improving
the appearance or volume of a body area caused primarily by the normal aging process. Examples of cosmetic uses include use of ADRC’s for: breast augmentation, treatment of age-related wrinkles, soft tissue filling of the face and hand due
to age related volume loss, body and trunk contour irregularities from aging or perceived insufficiency. 

 Cosmetic Market is limited: (i) to application only to the skin, epicutaneous or
subcutaneous space; (ii) to procedures that are remunerated by discretionary payments from the patient, relative or other similar party directly to the physician without a third party intermediary such as insurance company,
government pay or etc.; (iii) to procedures that are administered in physician’s office, surgery center or other facility without the capability for inpatient (>24hour) care such as a hospital. 

The Cosmetic Market specifically excludes any and all marketing, sale and use of the Celution Products for treatment or application to thermal
and radiation burns to the skin, or to the nerves or blood vessels, as well as any treatment or therapy involving any systemic (such as intravascular, blood vessel) delivery of cells. 

“Cost of Goods Sold” or “COGS” shall mean the cost of the materials used in manufacture of the product
along with the direct labor costs used to produce the product, excluding all overhead or other related costs. 

“Cytori” shall have the meaning set forth in the Preamble. 

“Delivery Date” shall mean the date of delivery of product(s) purchased herein by purchasing Party. 

“Documentation” shall mean the user and technical manuals and other documentation necessary in connection with
commercialization of the Cytori Products. 
 “Effective Date” shall have the meaning set forth in the Preamble. 

“Force Majeure Event” shall have the meaning set forth in Section 3.10.1 

“Hair Field” shall mean sale and use of the Celution Product derived ADRC’s applied “Locally” to the
affected skin to reverse, stop or slow hair loss and/or re-grow lost or removed hair and/or improve existing hair follicle thickness, hair color, texture or form, whether alone or in combination with Puregraft processed fat and/or scaffolds or
matrices and/or any other additive or combination of additives and alone or in combination with other procedures and treatments. “Locally” is defined as the delivery of cells into the skin and/or epicutaneous and /or subcutaneous space at
or adjacent to an affected area. This Field of use may not be used or marketed to treat the underlying systemic conditions that may be the causes of hair loss, such as thyroid or hormone regulation, or immune disorders, though in such cases it may
be used as a localized treatment into the skin or subcutaneous space at or adjacent to an affected area. This Hair Field specifically excludes any and all marketing and use of the Celution Products for the treatment of thermal and radiation burns to
the skin, as well as any systemic(such as intravascular, blood vessel) delivery of cells. 

 “Intellectual Property Rights” shall mean (a) all inventions
(whether patentable or not and whether or not actually reduced to practice), all improvements thereto, and all patents, provisional and non-provisional patent applications and patent disclosures, together with all reissuances, divisions,
continuations, continuations-in-part, renewals, extensions and reexaminations thereof, (b) all copyrightable works, all works of authorship, all copyrights, and all applications, registrations and renewals in connection therewith, (c) all
mask works and all applications, registrations and renewals in connection therewith, (d) all trademarks, service marks, trade names, service names, brand names, trade dress rights, logos, Internet domain names and corporate names, together with
the goodwill associated with any of the foregoing, (e) all trade secrets and confidential business information (including, but not limited to, ideas, research and development information, know-how, formulas, compositions, biochemical and
biological materials, reagents, assays, manufacturing and production processes and techniques, technical data, data base rights, designs, drawings, specifications, customer and supplier lists, pricing and cost information and business and marketing
plans and proposals, and (f) any and all applications and registrations of the foregoing (in any jurisdiction). 

“Party” and “Parties” shall have the meaning set forth in the Preamble. 

“Person” shall mean an association, corporation, individual, partnership, trust or any other entity or organization,
including a governmental entity, other than a Party. 
 “Term” shall have the meaning set forth in Section 2.3.

 “NDA” shall mean the Mutual Non-Disclosure Agreement, dated July 29, 2013, entered into by and among Cytori,
and Bimini, and attached hereto as Exhibit D. 
 “Net Sales” means the total of the gross invoice prices from the
Final Sale of Puregraft Products/Standalone Fat Transplantation Products or Celution Products, less the sum of the following deductions where applicable: sales, use, tariff, import/export duties or taxes imposed on particular sales; transportation,
handling and refrigeration charges; allowances or credits to customers because of rejections or returns (“Customary Deductions”). “Final Sale” means the last sale of the products within the control of Licensee, Assignee or
Successor in interest to a customer, or independent third party (such as a distributor), in each case, in an arm’s length transaction; provided, however, if the sales are to an Affiliate that is not wholly owned by a Party, the Final Sale means
the average price of same product sold to end users in the region during the preceding six (6) months. If a Licensee or its Affiliate, Assignee or Successor sells at a single price or rate a packaged combination of products (or
“Kit”), not all of which if sold individually would be Licensed Products, then “Net Sales” with respect to sales of such Kits or packaged products shall equal the number of units of such Licensed Product sold as part of a Kit
(less rejections, defects and returns) multiplied by the respective 

 
average net selling price during such period of the same type of Licensed Product sold individually in the same country or region and distribution method, over the preceding six month period, in
each case excluding Customary Deductions. 
 “Trademark” shall mean all trademarks, service marks, trademark and
service mark applications, trade dress, trade names, logos, insignia, symbols, designs or other marks identifying a party or its products. 

“Warranty Period(s)” shall have the meaning set forth in Section 3.6.1 and 3.6.2 for the specified products in
each case. 
  

	1.2	References. In this Agreement, a reference to: 

 (a) A Section,
Sub-section, Preamble, Recital, Attachment, Schedule or Exhibit is, unless the context otherwise requires, a reference to a section or sub-section of, or a preamble, recital, attachment, schedule or exhibit to, this Agreement; 

(b) “This Agreement” (or any specific provision hereof) shall be construed as references to this Agreement or that
provision as amended, varied or modified from time to time; 
 (c) “$” or “USD” refers to United States
Dollars, the lawful currency for the time being of the United States of America; and 
 (d) All references in this Agreement
to “days” will, unless otherwise specified herein, mean calendar days. 
  

	1.3	Headings. Headings in this Agreement are for ease of reference only and shall not affect the interpretation or construction of this Agreement. 

 

	1.4	Attachments, Schedules and Exhibits. The Attachments, Schedules and Exhibits attached hereto are incorporated herein and form a part of this Agreement. 

 

	2.	PURCHASE AND LICENSES GRANTED BY CYTORI 

  

	2.1	Purchase and License Grants and Sublicenses. 

 2.1.1 Purchase of Cytori Technology
related to Standalone Fat Transplantation, including the Puregraft Product Line. Cytori hereby agrees to sell to Bimini, and Bimini hereby purchases from Cytori, all rights, title, and interest in and to all Cytori Technology in so far as it
relates to Standalone Fat Transplantation (excluding the Retained Rights pursuant to Section 2.1.2), including (but not limited to) the Puregraft Product Line as described on Exhibit A (the “Puregraft Products”) and the Puregraft
trademark. As provided in section 2.1.3 and section 2.1.4 below, Bimini is licensing to Cytori certain exclusive rights relating to ADRC enriched applications and certain non-

 
exclusive rights relating to fat banking applications. Upon the Effective Date of this Agreement, Cytori shall promptly transfer and assign, and/or refer all Puregraft Product accounts, leads,
and prospects, Puregraft sales representatives and Distributors to Bimini for the purchase or sale of the Puregraft Products. 
 2.1.2
Exclusive and Retained Rights of Cytori- [REDACTED]*. Cytori retains the exclusive right to make, use and sell any configuration of the Puregraft Products and the Standalone Fat Transplantation Products, including all related Standalone Fat
Transplantation Cytori Technology, [REDACTED]*. The description of the exclusive rights retained above in this Section 2.1.2 shall be herein referred to as [REDACTED]* or the “Retained Rights”, and the parties agree that Cytori
retains all rights to the Puregraft Products, Standalone Fat Transplantation Products and Standalone Fat Transplantation Cytori Technology, exclusively and perpetually for [REDACTED]*, and that Bimini, its successors and assigns shall not market,
offer, or knowingly sell the Puregraft Products or Standalone Fat Transplantation Products for the purpose of [REDACTED]*. For avoidance of doubt, these Retained Rights may not be used to or interpreted to allow Cytori make, use, or sell any
Standalone Fat Transplantation products. 
 2.1.3 Exclusive Rights of Cytori- ADRC Enriched Applications. 

Cytori is hereby granted the world-wide, perpetual, irrevocable and exclusive royalty bearing license to purchase from Bimini (and its
successors and assigns), use and sell any configuration of Bimini’s Standalone Fat Transplantation products, the Puregraft Products (including all future generations of each) made by or for Bimini (the “Standalone Fat Transplantation
Products”), its successors and assigns to use and sell the Standalone Fat Transplantation Products for ADRC Enriched Applications (excluding only the Hair Field). ADRC Enriched Applications includes any sale or use of the Standalone Fat
Transplantation Products for the express purpose of mixing ADRC’s with Standalone Fat Transplantation Product processed fat tissue for re-implantation of the tissue into a patient. The Parties understand and agree that this grant shall not
serve as a restriction for Bimini with respect to any other stem cell enriched combination that does not include ADRC’s. The Parties Agree that Cytori may not sell the Standalone Fat Transplantation Products separately, but may only offer the
Standalone Fat Transplantation Products in conjunction with a Celution consumable set, whether packaged together, or bundled with one or more separately packaged products (including the consumable set). Cytori (its successors and assigns) are hereby
granted the world-wide, perpetual, irrevocable, exclusive royalty bearing license to make, use and sell a closed system, as a part of any future Celution Product that creates an ADRC Enriched Fat Graft, provided that for each Celution Consumable
sold to create an ADRC Enriched Fat Graft (that does not use a Standalone Fat Transplantation Product purchased from Bimini), Cytori shall be required to pay a royalty. The royalty shall be 

  
  

	*	Material has been omitted pursuant to a request for confidential treatment, and the omitted contents were filed separately with the Securities and Exchange Commission. 

 
twelve (12%) of the average Final Sale price of Bimini for Standalone Fat Transplantation Products (such as the Puregraft) in the region during the preceding six (6) months. Prior to
the exercise of the License to make such a closed system product, Cytori must first offer Bimini the right to make the closed system Standalone Fat Transplantation Product processing component for use by Cytori. 

2.1.4 Non-Exclusive Rights of Cytori- Fat Banking Applications. Cytori is hereby granted the world-wide, perpetual, irrevocable,
non-exclusive royalty bearing license to purchase from Bimini (and its successors and assigns), any configuration of Bimini’s Standalone Fat Transplantation Products made by or for Bimini, its successors and assigns for the sole and express
purpose of sale and use in connection with the cryopreservation, storage, thawing and reconstitution, and use of Adipose Tissue, ADRC Enriched Adipose Tissue, and ADRC’s for banking. This license shall only be exercised by Cytori in connection
with ADRC and/or adipose tissue banks sold or established by or pursuant to license from Cytori. 
 2.1.5 Non-Compete Terms. 

a. Cytori shall not make, sell or use any Standalone Fat Transplantation Products, including any products comparable to or
serving essentially the same function as, or displacing, the Puregraft Products or Standalone Fat Transplantation Products, subject only to the continuing supply of the Standalone Fat Transplantation Products/Puregraft Product Line products and
later developed Standalone Fat Transplantation products from Bimini to Cytori on the terms of supply set forth herein (provided Cytori is not then in default per Section 2.3.2). Notwithstanding the above, this non-compete shall not be
applicable to Cytori to the extent of the Retained Rights or for and to the extent of Cytori’s exercise of its Licensed Rights, in the event Bimini ceases to offer the same Puregraft Products to Cytori as those sold herein, and does not provide
alternative Standalone Fat Transplantation Products that are reasonably equivalent and readily adaptable for Cell Enriched uses, and for Banking purposes. 

b. Bimini shall not make, sell or use any configuration of the Standalone Fat Transplantation Products, or any Puregraft
Products (including products comparable to or serving essentially the same function as, or displacing, such products) for [REDACTED]*. 

2.1.6 Puregraft Sublicenses. The rights granted above in Section 2.1.3 & Section 2.1.4 are fully assignable and
sublicenseable in accordance with the terms of this Agreement; provided each party shall remain responsible for its assignees and/or sublicensee’s continued compliance with the terms of this Agreement. 

2.1.7 Celution Products License for the Hair Field. Subject to the terms, conditions and limitations set forth in this Agreement, Cytori
hereby grants to 

  
  

	*	Material has been omitted pursuant to a request for confidential treatment, and the omitted contents were filed separately with the Securities and Exchange Commission. 

 
Bimini the global, exclusive, perpetual, irrevocable royalty bearing license to purchase from Cytori, use and sell the Celution Products in the Hair Field. This license does not include any form
of systemic or intravascular delivery of ADRC’s. With respect to required diligence in the Hair Field, Bimini or affiliates intend to collaborate, joint venture, and/or partner with hair clinics and other groups for the delivery and/or
marketing of hair treatment in Europe initially, and potentially later in United States and the rest of the world. The parties agree that this plan, without any specified commitment of investment by Bimini shall constitute sufficient efforts to
exploit the Hair Field for purposes of this license. 
 2.1.8 Celution Sublicenses. All of the rights and obligations of this
agreement, including the Celution Products license granted above in section 2.1.7, and the right to purchase Celution Products from Cytori (as granted below), are fully assignable and sublicenseable; provided, however, that each party shall remain
responsible for its assignees and/or sublicensee’s continued compliance with the terms of this Agreement. 
  

	2.2	Purchase Payments& Closing 

 2.2.1 Initial Payment& Closing. In
consideration of the rights granted by Cytori to Bimini, pursuant to Section 2.1 above, and for each parties rights &obligations set forth in this Agreement, Bimini shall pay Cytori an “Initial Payment” in the amount of five
million dollars ($5,000,000), payable upon execution of this Agreement by wire transfer of immediately available funds to the bank account designated by Cytori below: 

[REDACTED]* 
 2.2.2
R&D Deliverables & Penalties. After closing, Cytori agrees to complete the following: 
 a. Cytori shall obtain CE Mark
Approval and commercial release for the Puregraft 50 product (comparable to the CE mark currently in existence for the other Puregraft Products), on or before October31, 2013. For each month the CE Mark Approval is delayed beyond October 31,
2013, Cytori shall pay Bimini twenty-five thousand dollars ($25,000) up to a maximum of five hundred thousand dollars ($500,000). 
 b.
Cytori shall prepare and submit a 510(k) application seeking clearance of the Puregraft 50 product on or before October31, 2013. For each month the 510(k) submission is delayed beyond October 31, 2013, Cytori shall pay Bimini twenty-five
thousand dollars ($25,000) up to a maximum of seven hundred and fifty thousand dollars ($750,000). 

  
  

	*	Material has been omitted pursuant to a request for confidential treatment, and the omitted contents were filed separately with the Securities and Exchange Commission. 

 c. Cytori shall complete the transfer of the Puregraft (Puregraft 50, Puregraft 250 &
Puregraft 850) manufacturing(component, sub-assembly and final assembly)fully to a reasonably agreed third party(ies) on or before December 31, 2014(“Completion Date”). Subject to the conditions below, for each month the Puregraft
manufacturing is delayed beyond the Completion Date, Cytori shall pay Bimini twenty-five thousand dollars ($25,000) up to a maximum of seven hundred and fifty thousand dollars ($750,000).The Completion Date shall be subject to reasonable extension
for any of following events: (i)the parties subsequently change the target manufacturer(s) after the Effective Date, or (ii) there are mutually agreed design changes implemented with respect to any of the products, or (iii)the target
manufacturer(s) fails to agree to the time table or provide reasonable cooperation, or(iv)Bimini fails to provide reasonable cooperation and performance of any necessary steps to be the manufacturer of record. In the event of any of the above
conditions, the parties shall review the effects of such change on the timeline and mutually agree to reasonably adjust the Completion Date to account for the additional time required. 

Cytori shall use its best efforts to perform each of the items in this Section 2.2.2, and Bimini shall be entitled to specific performance
in connection with Cytori’s failure to comply with this Section 2.2.2 in addition to the monetary remedies described above. 

2.2.3 Bimini’s Purchase Payments for the Puregraft Product Line in the form of a Royalty. In consideration of the rights sold by
Cytori to Bimini herein above, Bimini shall pay purchase payments to Cytori in connection with its (and its Affiliates)Gross Profits (defined as gross Puregraft revenue minus COGS) from the sale of Puregraft Products or Standalone Fat
Transplantation Products as follows (“Royalty Purchase Payments”): 
  

	 	a.	One Million ($1,000,000) is payable to Cytori upon Bimini’s achievement of Ten Million ($10,000,000) in cumulative Gross Profit; 

 

	 	b.	One Million Five Hundred Thousand ($1,500,000) is payable to Cytori upon Bimini’s achievement of Twenty Five Million ($25,000,000) in cumulative Gross Profit; 

 

	 	c.	Two Million Five Hundred Thousand ($2,500,000) is payable to Cytori upon Bimini’s achievement of Fifty Million ($50,000,000) in cumulative Gross Profit; and 

 

	 	d.	Five Million ($5,000,000) is payable to Cytori upon Bimini’s achievement of One Hundred Million ($100,000,000) in cumulative Gross Profit. 

 2.2.4 Bimini Royalty Payments for the Hair Field. In consideration of the exclusive
Celution license rights for the Hair Field granted by Cytori to Bimini herein above, and effective as of the Closing of this Agreement Bimini shall perpetually pay semi-annual royalty payments to Cytori in the amount of eight percent (8%) on
its Net Sales from all Hair Field Celution Products sold by Bimini during the preceding six month period. 
 A report specifying the
accounting for such Royalties and full payment thereon shall be due within sixty (60) days after the completion of the prior period. 

2.2.5 Cytori Royalty Payments for Puregraft Sales for ADRC Enriched & Banking. In consideration of the license rights granted
to Cytori by Bimini in Sections 2.1.3 & 2.1.4 herein above, and effective as of the Closing of this Agreement Cytori shall perpetually pay semi-annual royalty payments to Bimini in the amount of twelve percent (12%) on its Net Sales
from such Puregraft Products/Standalone Fat Transplantation Products sold by Cytori during the preceding six month period. A report specifying the accounting for such Royalties and full payment thereon shall be due within sixty (60) days after
the completion of the prior period. 
 2.2.6 Exclusive Right of Negotiation — Celution Products for Cosmetic Market. The Parties
hereby agree that Cytori shall not in any manner market, sell or seek to license the Celution Product sales and marketing rights for the Cosmetic Market through December 31, 2013. For avoidance of doubt, this shall not prohibit the appointment
of regional non-exclusive or exclusive distributors or sales representatives whose agreements are assignable and the terms of which do not exceed 2 years, or are terminable within no less than 180 days written notice without substantive penalty.

 2.2.7 Payments to Cytori for Sale of Cytori Technology related to Standalone Fat Transplantation or Change in Control of Bimini. In
the event: (i)of any Change in Control of Bimini, or (ii) Bimini sells or otherwise assigns all or a portion of its interest in the Cytori Technology related to Standalone Fat Transplantation (and related products) to any third party (either of
which constitute an “Asset Sale”), whether the proceeds are in the form of cash, stock, goods or other services, then Cytori shall be paid a portion of the proceeds from the Asset Sale as follows: 

a. Cytori shall be entitled to a 20% share in all Asset Sale proceeds to the extent any one or all Asset Sale proceeds taken together
cumulatively exceed a total of five million ($5,000,000) in proceeds to Bimini. Cytori’s share of any or all Asset Sale proceeds shall not exceed ten million dollars ($10,000,000) payable hereunder. 

 b. The Asset Sale payments shall be paid in cash (at the fair value of the proceeds received, if
not received by Bimini in cash) and shall be fully creditable against the Section 2.2.3 Royalty Purchase Payments not yet paid to Cytori (whether or not due) to the extent such payments remain outstanding. The credits against the Royalty
Purchase Payments shall apply first to the last payment due (Section 2.2.3 (d)), and proceed thereafter from last to the third, second and first of Royalty Purchase Payments until the full amount payable under Section 2.2.3 has been paid. 

c. This Section shall terminate once the full Royalty Purchase Payments ($10,000,000) have been paid to Cytori in cash as accrued under
Section 2.2.3, and/or once the full Royalty Purchase Payments are paid (and credited) through Bimini’s payments to Cytori of Cytori’s share of Asset Sale proceeds. For the avoidance of doubt, Cytori shall never be entitled to more
than ten million ($10,000,000) in total from the combination of: (i) Royalty Purchase Payments under Section 2.2.3; and (ii) Asset Sale proceeds pursuant to this Section 2.2.7. 

 

	2.3	Term, Termination& Bankruptcy. 

 2.3.1 Term of this Agreement. The term of
this Agreement shall commence on the Effective Date and shall continue in perpetuity unless terminated as provided below (the “Term”). 

2.3.2 Remedies & Termination. This Agreement may be terminated (in full or in part- as indicated below) as follows: 

 

	 	a.	Upon a material breach of this Agreement by a Party, including its Affiliates, successors or assigns, or any of their sublicensees (“Breaching Party”), which material breach has not been cured within sixty
(60) days of its receipt of a written notice of breach from the Non-Breaching Party, the Breaching Party shall be in “Default” (excluding “Failure of Supply”) and the Non-Breaching Party shall have the following rights:

  

	 	i.	If the Default is due to a Failure of Supply event by either Party, such Default shall be handled exclusively as provided in Section 3.4, which shall be the sole remedy therefore. 

	 	ii.	If Bimini is in Default with respect to its duties or obligations relating to the Celution Products, then Cytori shall be entitled to any remedies that Cytori may have available at law or in equity, and Cytori shall be
entitled to suspend, but not cancel any and all Celution Product licenses& supply obligations to Bimini, until such time as the default is fully remedied. 

  

	 	iii.	If Cytori is in Default with respect to its duties or obligations relating to the Bimini’s Standalone Fat Transplantation Products(including the Puregraft Products), then Bimini shall be entitled to any remedies
that Bimini may have available at law or in equity, and Bimini shall be entitled to suspend, but not cancel any and all licenses& supply obligations to Cytori, until such time as the default is fully remedied. 

 

	 	iv.	If Bimini’s Default is due to failure to pay Cytori the Initial Payment, or Royalty Purchase Payments due for the Puregraft Products, then Cytori shall be entitled to terminate this Agreement in its entirety, and
all rights title and interest in the Cytori Technology related Standalone Fat Transplantation products (including the Puregraft Products and all future generations of each) are immediately hereby transferred and assigned back to Cytori.

  

	 	v.	All other Defaults shall be subject to available remedies at law and in equity as appropriate. 

2.3.3 Bankruptcy. In the event of the filing or institution of bankruptcy, liquidation or receivership proceeding by or against Cytori,
Bimini or their respective successor in interest to this Agreement; which involuntary proceedings are not dismissed within 90 days after the filing thereof (an “Insolvency Proceeding”), the parties shall have the rights specified below:

  

	 	a.	If Cytori (including its successors and assigns) is the Party subject to the Insolvency Proceeding, then Bimini shall be entitled to exercise all rights pursuant to a Cytori Failure of Supply, including access to all
Technology and Source Codes in Escrow, unless Cytori is able to provide commercially reasonable assurances that it can and will continue to supply the Celution Products to Bimini as contemplated by the Agreement. 

	 	b.	If Bimini(including its successors and assigns) is the Party subject to the Insolvency Proceeding, then the Celution Product license granted Bimini in Section 2.1.6 shall become non-exclusive, and Cytori shall then
have the full, unrestricted right to market, distribute and sell the Celution Products within the Hair Field. Cytori shall be entitled to exercise all rights pursuant to a Bimini Failure of Supply, including access to all Technology and Source Codes
in Escrow, unless Bimini is able to provide commercially reasonable assurances that it can and will continue to supply the Puregraft Products/Standalone Fat Transplantation Products to Cytori as contemplated by the Agreement. 

 

	2.4	Representations and Warranties. 

 2.4.1 Representations and Warranties of Cytori.
Cytori represents and warrants to Bimini that: 
 (a) Cytori is a corporation duly organized, validly existing and in good
standing under the laws of the State of Delaware, and that Cytori has full power and authority, and has taken all action necessary, to execute and deliver this Agreement and to fulfill its obligations under, and to consummate the transactions
contemplated by, this Agreement. 
 (b) The execution, delivery and performance of this Agreement by Cytori will not result
in any breach or violation of, or conflict with, any material contract, agreement, undertaking, judgment, decree, order, law, regulation or rule to which Cytori is a party or by which Cytori or any of its assets are bound, and upon written approval
of the transaction by Oxford Finance LLC, the sales and licenses herein, are free and clear of any claim or lien of any creditor of Cytori. 

(c) This Agreement has been duly and validly executed and delivered by Cytori and is binding upon and enforceable against
Cytori in accordance with its terms. 
 (d) Cytori has the full right and authority upon written approval of the transaction
by Oxford Finance LLC to sell the property and to grant the licenses as provided herein free and clear of any claim or lien of any creditor of Cytori. 

2.4.2 Representations and Warranties of Bimini. Bimini represents and warrants to Cytori that: 

(a) Bimini is a Limited Liability Company duly organized, validly existing and in good standing under the laws of the state of
Delaware, and Bimini has full power and authority, and has taken all action necessary, to execute and deliver this Agreement and to fulfill its obligations under, and to consummate the transactions contemplated by, this Agreement. Bimini includes
all subsidiaries, ventures, and affiliates (including corporations, partnerships, limited liability companies of every kind and nature) in which Bimini owns 50% or more of the economic interest. 

 (b) The execution, delivery and performance of this Agreement by Bimini will not
result in any breach or violation of, or conflict with, any material contract, agreement, undertaking, judgment, decree, order, law, regulation or rule to which Bimini is a party or by which Bimini or any of its assets are bound. 

(c) This Agreement has been duly and validly executed and delivered by Bimini and is binding upon and enforceable against
Bimini in accordance with its terms. 
  

	3.	COMMERCIAL AGREEMENT 

 3.1 Celution Product Supply/Puregraft Product Supply. Cytori agrees to
manufacture and sell the Celution Products to Bimini during the Term of this Agreement for Bimini’s exercise of the licenses granted it by Cytori in accordance with the commercial terms contained herein, and subject to Bimini’s compliance
with all applicable laws and the restrictions and obligations contained herein. Cytori also agrees to manufacture and sell the Puregraft Products to Bimini at 105% of Cytori’s COGS from the Effective Date until such time as Cytori has
successfully transferred the Puregraft Product manufacturing capacity fully to a designated third party manufacturer, and Bimini has assumed control of the manufacturing. Once the manufacture of the Puregraft Products has transferred to Bimini,
Bimini agrees to manufacture and sell the Standalone Fat Transplantation Products/Puregraft Products to Cytori during the Term of this Agreement for Cytori’s use in accordance with the commercial terms contained herein for Banking and ADRC
Enriched Applications at 105% of Bimini’s COGS. 
 3.1.1 [Reserved]. 

3.1.2 Development of CTX-2 (Next Generation Celution System).Cytori agrees to use commercially reasonable efforts to continue and
complete the development of the CTX-2 next generation Celution Device & Consumables at no additional cost to Bimini, provided it is understood that such development may be subject to unforeseen changes and delays. Cytori also confirms that
it is the intent of Cytori to continuously improve the Celution Products (including future iterations and generations) in perpetuity. 

3.1.3 Supply of Ancillary Products. Cytori agrees to use reasonable efforts to supply Ancillary Products (as defined in Exhibit C) to
Bimini (if available) at 105% of Cytori’s COGS, plus shipping costs, duties, taxes, or other fees required in connection with Bimini taking possession of the products, provided that the parties both acknowledge and agree that these products are
3rd party products purchased by Cytori for convenience of Cytori’s Customers, and any inability to supply the Ancillary Products to Bimini or discontinuation of the Ancillary Products (for
all parties) shall not be cause for any liability on the part of Cytori. The sole warranty for the Ancillary Products is that provided by the manufacturers of such products. 

	3.2	Prices and Payment Terms. 

 3.2.1 Celution Product Price For Current and Future
Generations Of Celution Products. The transfer price for current and future generations of the Celution Products (as of the Effective Date)from Cytori to Bimini shall be at [REDACTED]* plus shipping costs, duties, taxes, or other fees required
in connection with Bimini taking possession of the products. 
 3.2.2 Product Price for Puregraft Products. The transfer price for the
Puregraft Products from Cytori to Bimini (during the Interim Manufacturing Period) shall be at one hundred and five percent (105%) of Cytori’s COGS plus shipping costs, duties, taxes, or other fees required in connection with Bimini taking
possession of the products. The transfer price for the Standalone Fat Transplantation Products supply from Bimini to Cytori shall be equal to one hundred and five percent (105%) of Bimini’s COGS plus shipping costs, duties, taxes, or other
fees required in connection with Cytori taking possession of the products. 
 3.2.3 Invoicing and Payment Procedure. The manufacturing
Party shall invoice the purchasing Party concurrently with its delivery of the Celution/Puregraft Products or Standalone Fat Transplantation Products ordered. The purchasing Party shall pay for the Celution/Puregraft Products or Standalone Fat
Transplantation Products delivered in accordance with each Purchase Order within a maximum of forty-five (45) calendar days from the date that purchasing Party receives the corresponding invoice issued by the manufacturing Party. Invoices
issued by manufacturing Party shall reference the relevant Order number, and indicate (a) applicable tax (if any), (b) quantities of products shipped, and (c) date of shipment of the products. 

3.2.4 Late Payment. If any payment amount under any invoice issued pursuant to Section 3.2.3 becomes overdue, purchasing Party
shall, upon written demand from manufacturing Party, pay interest on the unpaid, overdue, balance at the lesser of (a) the maximum rate permitted by law, and (b) ten percent (10%) per annum on the outstanding, balance. To the extent
that any payment is overdue, payments received by manufacturing Party shall first be applied to any such accrued but unpaid overdue amount. In the even any overdue amounts exceed ninety (90) days from the date of invoice, manufacturing Party
shall not be required to accept or ship any additional orders until all outstanding invoices are paid in full. 
  

	3.3	Order and Forecast. 

 3.3.1 Orders. The purchase and sale of the product(s)
hereunder shall be made by written or electronic purchase order issued to manufacturing Party, for purchase of products (“Order(s)”). Purchasing Party shall, on or before the first Business Day of each month, place an Order
for product(s) in amounts for such month that are in accordance with the applicable Forecast(s)previously submitted in accordance with this Section 3.3. The 

  
  

	*	Material has been omitted pursuant to a request for confidential treatment, and the omitted contents were filed separately with the Securities and Exchange Commission. 

 
“Delivery Date” specified in an Order shall be no earlier than forty-five (45) days for Puregraft Products or Standalone Fat Transplantation Products, and ninety
(90) days for Celution Products from the date the relevant Order is placed, provided that manufacturing Party shall use commercially reasonable efforts to deliver the ordered products sooner if early delivery is requested. Each Order will
include: (a) a reference to this Agreement and Section, (b) Order quantities, (c) specifications and/or type/model number of the product(s) ordered; (d) each product unit price and the total price for all product(s) in the Order,
(e) shipping instructions, (f) requested Delivery Date in accordance with this Section 3.3.1 (including Delivery Dates for partial shipments of ordered product(s) on different dates); and (g) shipping and billing address. In the
event of any conflict between or among the terms and conditions of this Agreement and the terms and conditions specified in an Order (including Order acknowledgement by manufacturing Party), such provisions shall be construed in a mutually
consistent manner or, if such construction is not reasonably possible, the provisions of this Agreement shall govern and prevail. 
 3.3.2
Order Acknowledgment. Manufacturing Party shall confirm its receipt of an Order electronically or by facsimile within five (5) Business Days of its receipt of each Order, stating the applicable Product purchase price and expected
Delivery Date. For any Orders that exceed one hundred twenty-five percent (125%) of the applicable Forecast in quantity, manufacturing Party may reject such Orders to the extent such Order exceeds 125% of the applicable Forecast. Manufacturing
Party shall specifically acknowledge or reject any Order that exceeds125% of the Forecast within five (5) Business Days from the date on which it receives an Order, or the order will be deemed accepted and binding on the Parties. 

3.3.3 Order Address. All Orders shall be sent to the following address: 

For Cytori: 
 Cytori
Therapeutics, Inc. 
 3020 Callan Road 

San Diego, CA 92121, U.S.A. 

Fax: 858-200-0951 

E-mail: orders@cytori.com 

Attn: Customer Service 
 For
Bimini : 
 Bimini Technologies LLC 

3020 Callan Road 

San Diego, CA 92121, U.S.A. 

Fax: 858-200-0951 

E-mail: bconlan@puregraft.com 

Attn: Bradford A. Conlan 

 3.3.4 Order Changes. Once submitted, Orders may not be withdrawn, revoked or altered in
any way without manufacturing Party’s prior written consent. Furthermore, except as specifically provided herein or otherwise agreed by the Parties, Orders accepted may not be withdrawn, revoked, altered or cancelled. 

3.3.5 Partially Binding Forecast. Beginning ninety (90) days after the Effective Date, on the 15thday of every second calendar
month thereafter during the Term (or, if such day is not a Business Day, then on the immediately following Business Day), purchasing Party shall submit to manufacturing Party a six (6) month rolling, partially binding forecast (each a
“Forecast”) of the quantities of each product anticipated to be purchased during the upcoming six (6) calendar month period (the “Forecast Period”). Each Forecast, and the quantities forecasted for purchase
during the Forecast Period covered thereby, shall be partially binding upon the Parties as follows: 
  

	 Month after delivery of Forecast 
	Flexibility 

  

	 Month 1: 
	Binding (100%) 

  

	 	(Shall be reflected without change in Orders sent in the month immediately following the month on which the Forecast is delivered). 

  

	 Month 2: 
	Binding (100%) 

  

	 	(Shall be reflected without change in the Forecast of the immediately following month as Month 1). 

Month 3: 

	 (Partially Binding Month) 
	Partially binding 

  

	 	(Upward adjustment by no more than thirty percent (30%), or downward adjustment by no more than thirty percent (30%) of the amounts indicated for Month 3 may be made, as any such adjustments shall be reflected in the
Forecast of the immediately following month as Month 2). 

 Month 4: 

	 (Partially Binding Month) 
	Partially binding 

  

	 	(Upward adjustment by no more than fifty percent (50%), or downward adjustment by no more than fifty percent (50%) of the amounts indicated for Month 4may be made, as any such adjustments shall be reflected in the
Forecast of the immediately following month as Month 3). 

  

	 Month 5: 
	Non-binding (0%) 

  

	 	(May be completely changed in the Forecast, as any such adjustments shall be reflected in the Forecast of the immediately following month as Month 4). 

 

	 Month 6: 
	Non-binding (0%) 

  

	 	(May be completely changed in the Forecast, as any such adjustments shall be reflected in the Forecast of the immediately following month as Month 5). 

 3.3.6 Manufacturing Capacity. The Parties agree and acknowledge that manufacturing Party
has a finite capacity to manufacture, or procure the manufacture of, product(s) during any given calendar quarter. In the event production limits result in material aggregate delivery shortfalls equal to or exceeding [REDACTED]* of the purchasing
parties orders for any [REDACTED]*,manufacturing Party shall use its commercially reasonable efforts to increase production capacity provided the then current Forecasts from purchasing Party (taken together with other anticipated Product sales by
manufacturing Party) reasonably warrant such increased capacity. In addition, in the event of a manufacturing shortfall equal to or exceeding [REDACTED]* of the purchasing party’s orders for any single quarter the parties will observe the
following in their allocation of products manufactured: 
 d. If Cytori is the manufacturing party with a shortfall, Cytori shall be
obligated to allocate the same percentage of Celution Products to Bimini as represented by the percentage of Bimini purchases compared to the percentage of purchases by all other parties as a group over the 12 months prior to the shortage, and shall
allocate Bimini no less than such percentage of Celution Products produced until the shortfall is ended. 
 e. If Bimini is the manufacturing
party with a shortfall, Biminis hall be obligated to allocate the same percentage of Standalone Fat Transplantation Products to Cytori as represented by the percentage of Cytori purchases compared to the percentage of all other parties as a group
over the 12 months prior to the shortage, and shall allocate Cytori no less than such percentage of Standalone Fat Transplantation Products produced until the shortfall is ended. 

3.3.7 Supply Obligations. Each Party shall at all times use commercially reasonable best efforts to supply Products as required
hereunder, provided that in the event of a Change in Control of the manufacturing Party, the manufacturing Party, its successors and assigns shall at all times be required to utilize its unqualified best efforts to supply the products it is
obligated to supply hereunder. 

  
  

	*	Material has been omitted pursuant to a request for confidential treatment, and the omitted contents were filed separately with the Securities and Exchange Commission. 

 3.4 Failure of Supply/Technology & Source Codes Escrow. Each Party and their successors and
assigns shall at all times be subject to the following provisions during the Term of this Agreement. 
 3.4.1 Cytori Failure of
Supply.In the event Cytori is unable to, or fails to supply [REDACTED]* of Bimini’s reasonable requirements for the Celution Products for a period longer than [REDACTED]* months after the specified delivery date, or [REDACTED]* of
Bimini’s reasonable requirements for the Celution Products for a period longer than [REDACTED]* after the specified delivery date, and Cytori cannot provide Bimini with reasonably satisfactory assurances that such failures or delays have been
or will befully and completely eliminated (promptly), then Bimini shall be entitled to declare a “Failure of Supply” by written notice to Cytori of its intent to exercise its right to access the “Technology & Source Codes in
Escrow”. Then ten (10) business days after delivery of the notice, Bimini shall be entitled to full use and access to the escrowed information for the purpose of self manufacture of the Celution Products for use in the Hair Field. Cytori
shall use its best efforts to supply the Celution Products to Bimini from the date of the notice until Bimini is able to self manufacture the Celution Products. Once Bimini begins self manufacture of the Celution Products, Biminis hall not be
required to pay any royalties to Cytori under Section 2.2.4 (Royalties Payments for the Hair Field) for its sales of Celution Products (manufactured by Bimini) until such time as the royalties that would have accrued under
Section 2.2.4equals [REDACTED]* of Bimini’s cost of developing the manufacturing ability, at which point Bimini shall resume payment of Section 2.2.4 royalties. These rights shall be Bimini’s sole remedy for Cytori’s failure
of supply. 
 3.4.2 Bimini Failure of Supply. In the event Bimini is unable to, or fails to supply at least [REDACTED]* of
Cytori’s reasonable requirements for the Standalone Fat Transplantation Products for a period longer than [REDACTED]* after the specified delivery date, or [REDACTED]* of Cytori’s reasonable requirements for the Standalone Fat
Transplantation Products for a period longer than [REDACTED]* after the specified delivery date, and Bimini cannot provide Cytori with reasonably satisfactory assurances that such failures or delays have been or will be fully and completely
eliminated (promptly), then Cytori shall be entitled to declare a “Failure of Supply” by written notice to Bimini of its intent exercise its right to access the “Technology & Source Codes in Escrow”. Then ten
(10) business days after delivery of the notice, Cytori shall be entitled to full use and access to the escrowed information for the purpose of self manufacture of the Standalone Fat Transplantation Products as allowed herein. Bimini shall use
its best efforts to supply the Standalone Fat Transplantation Products to Cytori from the date of the notice until Cytori is able to self manufacture the Standalone Fat Transplantation Products. Once Cytori begins the self manufacture of the 

  
  

	*	Material has been omitted pursuant to a request for confidential treatment, and the omitted contents were filed separately with the Securities and Exchange Commission. 

 
Standalone Fat Transplantation Products, Cytori shall not be required to pay Bimini any royalties for sales of such products to Bimini under Section 2.2.5 for its sales of Standalone Fat
Transplantation Products (manufactured by Cytori) until such time as the royalties that would have accrued under Section 2.2.5 equals [REDACTED]* of Cytori’s cost of developing the manufacturing ability, at which point Cytori shall resume
payment of Section 2.2.5 royalties. These rights shall be Cytori’s sole remedy for Bimini’s failure of supply. 
 3.4.3
Technology & Source Codes Escrow. Within sixty days of the Effective Date of this Agreement, The parties shall enter into a mutually negotiated Escrow Agreement, comparable to Iron Mountain’s standard “Three-Party Master
Depositor Escrow Service Agreement”, and any necessary supplemental agreements, with an agreed commercially reliable technology storage company (such as Iron Mountain) for the Celution Products manufacturing technology and software codes, and
for the Standalone Fat Transplantation Products manufacturing technology. The information stored shall be necessary and sufficient for a third party manufacturer to make such products independently of the original manufacturer and shall include all
suppliers, vendors and third party manufacturer contacts & contracts. This information shall continue to be confidential between the Parties, and shall not be accessed by the non-manufacturing party except as expressly permitted in this
Section 3.4. The party who was properly delivered the Failure of Supply notice, as well as its successors and assigns, shall be responsible for acknowledging the rights of the party exercising its rights granted herein with respect to any third
party, and shall fully cooperate with the exercise of these rights. Cytori shall be responsible for the start up fees payable to the Escrow provider (approximately $4,000), and the parties shall share the annual maintenance fees (approximately
$1,800) equally thereafter. 
  

	3.5	Inventory Management and Shipment of Products. 

 3.5.1 Shipment. Unless otherwise
specifically agreed between the Parties in writing, purchasing Party shall, at its own expense, procure from manufacturing Party, shipment and delivery of the products purchased herein EXW – Ex Works(INCOTERMS 2010)manufacturing Party
facilities. 
 3.5.2 Title and Risk of Loss. Risk of loss and title to any product(s) purchased pursuant to this Agreement shall pass
to purchasing Party EXW shipping point. 
 3.5.3 Notice of Inability to Deliver Product(s). Manufacturing Party shall provide
purchasing Party with immediate written notice if Manufacturing Party becomes aware that it will not be able to deliver the relevant product(s) on or within three (3) days of the Delivery Date specified in an accepted Order, or if Manufacturing
Party becomes aware that only a portion of the relevant product(s) can be delivered on or within three (3) days of the relevant Delivery Date specified in an accepted Order. Upon receipt by purchasing Party of 

  
  

	*	Material has been omitted pursuant to a request for confidential treatment, and the omitted contents were filed separately with the Securities and Exchange Commission. 

 
such notice, purchasing Party shall instruct Manufacturing Party to either (a) deliver such deliverable portion of the product(s) in accordance with this Agreement and relevant Order, or
(b) reschedule shipment of all or a portion of such product(s). If Manufacturing Party delivers a portion of the product(s) ordered under a certain Order pursuant to purchasing Party instructions pursuant to item (a) of this
Section 3.5.3, Manufacturing Party shall, at its sole cost and expense (including air transportation) and upon becoming able to complete such Order, promptly deliver all remaining undelivered product(s) specified in such partially performed
Order by air transportation, or such other means of transportation reasonably acceptable to purchasing Party. 
  

	3.6	Product Warranties. 

 3.6.1. Celution Product Warranty. Cytori warrants for a
period that is the lesser of: (a) twelve (12) months from the Delivery Date of the Celution Products purchased herein; or (b) three (3) months from the date of delivery of such product(s) by Bimini or its designee to the end-user
or customer; that any such Celution Product(s) sold hereunder shall: 
  

	 	(i)	operate in a manner that meets the relevant Celution Product(s) specifications; and 

  

	 	(ii)	be free from defects, for reason(s) attributable to Cytori, in material, design and workmanship. 

3.6.2. Puregraft Product Warranty. Each Puregraft manufacturer warrants for a period that is the lesser of: (a) eighteen months
(18) months from the Delivery Date of the relevant product(s) purchased herein; or (b) twelve (12) months from the date of delivery of Puregraft Product(s) by purchasing Party or its designee to the end-user or customer; that such
Puregraft Product(s) shall: 
  

	 	(i)	operate in a manner that meets the relevant Puregraft Product(s) specifications; and 

  

	 	(ii)	be free from defects, for reason(s) attributable to the manufacturer, in material, design and workmanship. 

3.6.3 Warranty Obligations. During the Warranty Period, The Celution Products, the Standalone Fat Transplantation Products and the
Puregraft Products shall each carry the limited warranty as specified in Schedule 2 hereto. Products manufactured by third parties (Other than the Celution Device and Consumable Sets and Standalone Fat Transplantation Products or Puregraft
Products), shall have only the warranty as provided by the manufacturer of such products. 

 3.6.4 Disclaimer of Warranty. EXCEPT AS SPECIFICALLY SET FORTH IN THIS SECTION 3.6,
MANUFACTURING PARTY DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND THOSE ARISING FROM A COURSE OF DEALING. 

 

	3.7	Obsolescence. 

 3.7.1 Discontinuance by Cytori. Cytori agrees and acknowledges
that it has an obligation to manufacture, supply and support the Celution Product(s) without interruption during the Term. If Cytori wishes to discontinue the manufacture and supply of any particular Cytori Product(s) during the Term, Cytori shall
provide written notice of such to Bimini not less than six (6) months in advance of the last date such Cytori Product(s) can be ordered. Upon Bimini’s receipt of any such discontinuance notice by Cytori, Cytori shall provide Bimini with
the appropriate designation for a suitable replacement Celution Product(s) to be supplied hereunder as reasonably necessary for the use of such products in the Hair Field as herein contemplated by the parties. Cytori shall continue to provide
support for Cytori manufactured discontinued products as required for a period of at least three years from the date of discontinuance. 

3.7.2 Discontinuance by Bimini. Bimini agrees and acknowledges that it has an obligation to manufacture, supply and support the
Puregraft Product(s) without interruption during the Term. If Bimini wishes to discontinue the manufacture and supply of any particular Bimini Product(s) during the Term, Bimini shall provide written notice of such to Cytori not less than four
(4) months in advance of the last date such Bimini Product(s) can be ordered. Upon Cytori’s receipt of any such discontinuance notice by Bimini, Bimini shall advise Cytori of the appropriate designation for a suitable replacement Puregraft
Product(s) to be supplied hereunder as reasonably necessary for the use of such products as herein contemplated by the parties. 
 3.7.3
Final Order. Prior to the effective date of the discontinuance of any product(s) under Section 3.7.1 or 3.7.2 herein, purchasing Party may make, and manufacturing Party agrees to accept, a final Order for the discontinued product(s), to
be paid for and shipped during a period commencing on the date of any discontinuance, and ending on the date that is six (6) months after such date of any such discontinuance. 

 

	3.8	Marketing, Licensing and Insurance. 

 3.8.1 Marketing Materials. Cytori agrees to
transfer all marketing materials developed or in development for the Puregraft Products. For avoidance of doubt and confusion, marketing materials include all digital and print marketing collateral including but not limited to videos, brochures,
website content, graphics, presentations, animations, messaging, tradeshow associated materials such as booth graphics, white papers, and journal articles. 

 3.8.2 Product Use Restrictions/Representations. Bimini understands and agrees that the
Celution Products which are labeled and intended for specific indications may cause injury or death if used for applications outside such specified labeling and instructions for use. Bimini agrees that only qualified trained and licensed healthcare
professionals will be provided authorization to use the Celution Products in the Hair Field in a manner consistent with all applicable laws and regulations. 

3.8.3. False or Misleading Representations. Bimini shall make no false or misleading representations to customers or other persons with
regard to the Celution Products or Cytori. Cytori shall permit Bimini to externally link the Bimini and any Affiliates website to the Cytori website, provided Cytori has the opportunity to review and approve the content of the Bimini website that
refers to Cytori or its products (or utilizes Cytori Trademarks), which review and approval shall not be unreasonably delayed or withheld for longer than two weeks upon mutually recognized submission to Cytori for review. Cytori recognizes that they
will have no right to review and approve the content of the Bimini website(s) if it does not refer to Cytori or its products (or utilizes Cytori Trademarks). 

3.8.4. Bimini Rights In Cytori Marks. Except as expressly agreed by the Parties herein or elsewhere in writing, nothing in this
Agreement shall be construed to grant either Party any rights in any Trademarks of the other Party. Notwithstanding the immediately preceding sentence, Cytori hereby authorizes Bimini, only for the purposes of labeling, marketing and selling the
Celution Products, to use the “Celution®” Trademark(s) of Cytori in exercise of the license rights granted herein. Use of specified Cytori Trademarks by Bimini, shall be expressly
limited by the following terms of use: 
 (a) Use of Cytori Marks by Bimini. Cytori hereby grants to Bimini a
non-exclusive right and license to use the specified Cytori Marks solely in connection with the promotion, sale and distribution of the Celution Products as granted herein. All rights with respect to Cytori Marks and all other trademarks, service
marks and trade names used by Cytori not specifically granted to Bimini in this Agreement are reserved to Cytori. 
 (b)
Acknowledgment of Ownership. Bimini acknowledges that (i) Cytori owns the Cytori Marks and all goodwill associated with or symbolized by Cytori Marks, (ii) Bimini has no ownership right in or to any Cytori Marks, and
(iii) Bimini shall acquire no ownership interest in or to any of Cytori Marks by virtue of this Agreement. Bimini shall do nothing inconsistent with Cytori’s ownership of the Cytori Marks and related goodwill. Nothing in this Agreement
shall be deemed to constitute or result in an assignment of any Cytori Marks to Bimini or the creation of any equitable or other interests therein. 

(c) Form of Use. Bimini shall use Cytori Marks only in the form and manner as reasonably agreed from time to time by
Cytori. Bimini shall mark 

 
each Product and/or all advertising, promotional or other materials bearing any of Cytori Marks with such notices as Cytori may require, including, but not limited to, notices that Cytori’s
Marks are trademarks of Cytori and are being used with the permission of Cytori. 
 (d) Submissions. Bimini shall
submit to Cytori for its written approval before any use is made thereof, representative samples of all Products, catalogs, brochures, packages, containers, and advertising or promotional materials bearing the Celution trademark. Bimini shall not
make any use of the “Celution” trademark unless and until it receives Cytori’s prior written approval. Cytori shall have the absolute right to approve or reject any proposed use(s) of any of “Celution” or “Cytori”
trademark, in its sole discretion. 
 (e) Registration. Cytori shall have the sole and exclusive right (but not the
obligation) to obtain trademark registration for any Cytori Marks (or any confusingly similar Marks) or to take such other action with respect to the Cytori Marks as it deems appropriate. 

(f) Infringement Information. Bimini shall notify Cytori promptly of any unauthorized use of Cytori Marks or of any mark
confusingly similar thereto which comes to its attention. Cytori shall have the sole right to determine whether or not any action shall be taken against any such infringement for all Cytori Marks. 

3.8.5. Cytori Rights In Bimini Marks. Except as expressly agreed by the Parties herein or elsewhere in writing, nothing in this
Agreement shall be construed to grant either Party any rights in any Trademarks of the other Party. Notwithstanding the immediately preceding sentence, Bimini hereby authorizes Cytori, only for the purposes of labeling, marketing and selling the
Standalone Fat Transplantation Products, to use the “Puregraft®” Trademark(s) of Bimini. Use of specified Bimini Trademarks by Cytori, shall be expressly limited by the following
terms of use: 
 (a) Use of Bimini Marks by Cytori. Bimini hereby grants to Cytori a non-exclusive right and license
to use the specified Bimini Marks solely in connection with the promotion, sale and distribution of the Standalone Fat Transplantation Products as granted herein. All rights with respect to Bimini Marks and all other trademarks, service marks and
trade names used by Bimini not specifically granted to Cytori in this Agreement are reserved to Bimini. 
 (b)
Acknowledgment of Ownership. Cytori acknowledges that (i) Bimini owns the Bimini Marks and all goodwill associated with or symbolized by Bimini Marks, (ii) Cytori has no ownership right in or to any Bimini Marks, and
(iii) Cytori shall acquire no ownership interest in or to any of Bimini Marks by virtue of this Agreement. Cytori shall do nothing inconsistent with Bimini’s ownership of the Bimini Marks and related goodwill. Nothing in this Agreement
shall be deemed to constitute or result in an assignment of any Bimini Marks to Cytori or the creation of any equitable or other interests therein. 

 (c) Form of Use. Cytori shall use Bimini Marks only in the form and manner
as reasonably agreed from time to time by Bimini. Cytori shall mark each Product and/or all advertising, promotional or other materials bearing any of Bimini Marks with such notices as Bimini may require, including, but not limited to, notices that
Bimini’s Marks are trademarks of Bimini and are being used with the permission of Bimini. 
 (d) Submissions.
Cytori shall submit to Bimini for its written approval before any use is made thereof, representative samples of all Products, catalogs, brochures, packages, containers, and advertising or promotional materials bearing the Puregraft trademark.
Cytori shall not make any use of the “Puregraft” trademark unless and until it receives Bimini’s prior written approval. Bimini shall have the absolute right to approve or reject any proposed use(s) of any of “Puregraft” or
“Bimini” trademark, in its sole discretion. 
 (e) Registration. Bimini shall have the sole and exclusive
right (but not the obligation) to obtain trademark registration for any Bimini Marks (or any confusingly similar Marks) or to take such other action with respect to the Bimini Marks as it deems appropriate. 

(f) Infringement Information. Cytori shall notify Bimini promptly of any unauthorized use of Bimini Marks or of any mark
confusingly similar thereto which comes to its attention. Bimini shall have the sole right to determine whether or not any action shall be taken against any such infringement for all Bimini Marks. 

3.8.6. Celution Products Software Rights. With respect to any software products incorporated in or forming a part of the Celution
Products hereunder, Cytori and Bimini intend and agree that such software products are being licensed and not sold, and that the words “purchase”, “sell” or similar or derivative words are understood and agreed to mean
“license”, and that the word “Bimini” or similar or derivative words are understood and agreed to mean “licensee” with respect to the software component, Cytori or its licensor, as the case may be, retains all rights
and interest in software products provided hereunder. 
 3.8.7. Grant of Rights Relating to Celution Products Software. Cytori hereby
grants to Bimini a royalty-free, non-exclusive license, to use software provided hereunder solely for end-users business purposes on the hardware products provided hereunder and to use the related documentation solely for the purpose of the use of
the Celution Products as authorized under this Agreement. This license terminates when Bimini’s lawful possession of the hardware products provided hereunder ceases, unless earlier terminated as provided herein. Bimini agrees to hold in
confidence and not to sell, transfer, license, loan or otherwise make available in any form to third parties the software products and related documentation provided hereunder. Neither may Bimini disassemble, decompile or reverse engineer, copy,
modify, enhance or otherwise change or supplement the software products provided 

 
hereunder without Cytori’s prior written consent. Cytori will be entitled to terminate this license if Bimini fails to comply with any term or condition herein. Bimini agrees, upon
termination of the Celution Products license, immediately to return to Cytori all software products and related documentation provided hereunder and all copies and portions thereof. 

3.8.8. Third Party Software. Certain of the software products provided by Cytori may be owned by one or more third parties and licensed
to Cytori. Accordingly, Cytori and Bimini agree that such third parties retain ownership of and title to such software products. 
 3.8.9
Insurance. Each Party will, maintain adequate commercial general liability insurance and product liability insurance, in amounts which are reasonable and customary within the industry. Subject to reasonable insurance policy limitations and
exclusions, such product liability insurance of each Party shall insure against all liability arising out of the use, manufacture (including packaging and delivery), sale, offer for sale, importation, distribution, marketing and promotion of the
Celution and Puregraft Product(s) throughout the world. 
  

	3.9	Country of Manufacture. 

 3.9.1 Country of Origin Certification. Upon
Bimini’s request, Cytori shall provide Bimini with an appropriate certification stating the country of origin for Celution and Puregraft Product(s), sufficient to satisfy the requirements of the customs authorities of the country of receipt and
any applicable export licensing regulations, including those of the United States. After the transfer of manufacturing of the Puregraft Products to Bimini, it shall provide the same information to Cytori upon request. 

3.9.3 Customs Authorities; Export Regulations. Bimini shall notify Cytori of any requirement from applicable customs authorities, and
Bimini will comply in a timely manner with such requirements. Upon Bimini’s reasonable request, Cytori shall provide any necessary information concerning the products supplied by Cytori to satisfy the requirements of the customs authorities of
the country of receipt and the countries of Bimini’s operations. 
  

	3.10	Force Majeure Events. 

 3.10.1 Force Majeure. To the extent that either Party to
this Agreement is temporarily unable to perform its obligations hereunder, in whole or in part, due to causes beyond such Party’s reasonable control, including, but not limited to, acts of God, acts of war, acts of terrorism, civil disturbance,
governmental action, strikes, fire, flood, typhoon, peril or accident at sea, inability to secure materials and transportation or facilities, walkouts or lock-outs or other labor disputes beyond the reasonable control of such Party (each, a
“Force Majeure Event”), the time for performing such Party’s obligations will be extended until such time (a) as the Force Majeure Event has been resolved or otherwise mitigated or eliminated, or (b) as
mutually agreed by the Parties, and in case of either (a) or (b), so as not to materially 

 
impede or prevent performance of such Party’s obligations; provided, however, that the Party claiming the benefit of this provision shall provide to the other Party prompt written notice and
reasonable evidence of the occurrence of such Force Majeure Event, and shall cooperate with the other Party in taking all such commercially reasonable actions as may be necessary or appropriate to mitigate, avoid or lessen the adverse effects of
such Force Majeure Event, as it may relate to the performance of each Party’s respective obligations hereunder. In no event shall a Party’s inability to pay any sums due hereunder or otherwise perform any of its financial obligations
hereunder be independently deemed to be a Force Majeure Event. Until such Force Majeure Event is so resolved, mitigated or eliminated, or until expiration of the time period mutually agreed by the Parties, the Party so unable to perform its
obligations shall not be deemed to be in default under or in breach of this Agreement; further provided that the Parties shall in any event be required to perform all other obligations hereunder which are reasonably capable of being performed during
the continuance of such Force Majeure Event. In the event that the Parties do not agree upon the occurrence of a Force Majeure Event, then the matter shall be submitted to arbitration pursuant to the provisions of Section 4.2 hereof. Subject to
the foregoing, a Force Majeure Event may also include (a) the occurrence of any pandemic, epidemic or prevalent disease or illness with an actual or probable threat to human life, including, without limitation, atypical pneumonia or Severe
Acute Respiratory Syndrome (SARS), or avian influenza, or (b) adherence to any travel restriction, warning or advisory issued in relation thereto by the Government of the United States, the World Health Organization (WHO) or the U.S. Centers
for Disease Control (CDC), or (c) any quarantine or similar measure taken in relation thereto by any governmental authority to prevent the spread of any communicable disease, or (d) any unavailability of any resources or services resulting
directly from any of the foregoing, or (e) impossibility to deliver product(s) due to export/import restriction derived from a governmental regulation that would make the export/import act illegal. In the event that a Force Majeure Event
continues for three (3) months or longer, either Party may terminate and cancel any and all outstanding Orders, regardless as to whether accepted by manufacturing Party, by written notice to the other Party. 

 

	3.11	TRAINING. 

 3.11.1 Initial & Follow-up Training. Prior to launch of
marketing and sales efforts by Bimini, Cytori shall conduct training for the designated Bimini staff or designees on how to set up, operate and use the Celution Products. Bimini designated personnel shall also be trained (at the time and place
reasonably agreed by the Parties in good faith) in the installation, maintenance and basic field repairs of the Celution Products, including software upgrades and troubleshooting. Cytori also agrees to provide additional or refresher Celution
Product training from time to time during the first three years after the Effective Date as reasonably requested, provided such training shall occur in San Diego, CA or at such other location as specified by Cytori. 

After the first three years, Cytori shall make additional training available as reasonably required for a modest cost based fee, provided it is
conducted in San Diego, CA, as it is the express expectation of the Parties that Bimini shall 

 
be responsible for training its own employees and its customers after the first three years, except in the case where new products are introduced by Cytori of the complexity that requires
re-certification for all persons involved in the installation, maintenance or repair of the Celution Products. In the Case of such new Celution Products, Cytori shall make additional training available free of charge in locations as reasonably
agreed. 
 3.11.2 Clinical Training and Case Support. 

During the first year after the Effective Date, Cytori shall also provide reasonable training to Bimini employees or designees as required to
train competent and properly qualified medical personnel to utilize the Celution Products and Puregraft Products clinically. In any event, Cytori will provide in person case support for no less than ten (10) separate clinical cases for the
Celution Products and ten (10)separate clinical cases for the Puregraft Products within the first two years from the Effective Date, at times and locations as reasonably and mutually agreed. 

 

	3.12	REGULATORY. 

 3.12.1 Regulatory Matters. Bimini shall be responsible for obtaining
all necessary government approvals, registrations, consents, licenses and permits that are required for the marketing and sale of the Celution Products in accordance with the license rights granted herein (“Approvals”), and for complying
with any and all applicable statutory, administrative or regulatory requirements for product labeling and packaging, product documentation such as traceability, samples, sales literature and records, and documentation for recalls including but not
limited to product serial numbers for each product sold identifiable by account and date of sale, which documentation shall be maintained on a permanent basis by Bimini notwithstanding termination or expiration of this Agreement. Bimini shall also
maintain records of all product registrations with any government agency or health authority, or any registration, approvals, or filing of this Agreement. Without limiting the generality of the foregoing: 

(a) Bimini shall bear all costs, fees and expenses associated with obtaining regulatory approvals and for complying with laws
in connection with its activities with exception to the US 510k clearance and CE Mark approval of the Puregraft 50 product line as specified herein above. Notwithstanding the forgoing, in the event and to the extent that Cytori has already obtained
regulatory approvals, Bimini shall bear no expense for these or other Cytori efforts to obtain the same. Cytori also agrees to make all relevant regulatory information in its possession or that comes into its possession (including equivalency
studies/clinical study information) available to Bimini for regulatory submissions for the Hair Field including for any evolutions, alternatives, next generation devices of the Celution Products and Celution System. If an appropriate amount of
positive, clinical data is collected for the hair field of use, Cytori is obligated to agree to seek expansion of the Celution CE Mark Claims to include supported hair language at Bimini’s expense. 

 (b) Bimini shall promptly provide to Cytori, upon Cytori’s request, such
evidence that Cytori shall require, including, but not limited to, an opinion of any independent attorney licensed to practice law in a country confirming that all Approvals necessary to import and sell the Celution Products in such country have
been obtained and that Bimini’s sales of the Products are in compliance with all Laws. If such evidence is not received by Cytori, Cytori shall be entitled to hold shipment of the Celution Products until such evidence is received. 

(c) Notwithstanding the foregoing, and subject to the Bimini’s ongoing commitment of Confidentiality (as specified in the
NDA) for all regulatory information provided by Cytori, Cytori shall provide all regulatory and quality materials related to the Puregraft Products, and access to its regulatory files for the Celution Products, and available relevant clinical data
as reasonable or necessary for Bimini in its regulatory activities. Cytori shall also from time to time provide reasonable regulatory counsel and advice from its internal regulatory team to aid Bimini’s qualified regulatory personnel in the
application and use of the Cytori regulatory materials. 
  

	3.13	COMPLIANCE WITH LAWS. 

 3.13.1 Corruption. Each party will comply with all
applicable laws and regulations with respect to their activities contemplated herein. Each Party agrees that it will not knowingly assist or participate in any violation of laws or regulations applicable to Cytori or Bimini, including the United
States Foreign Corrupt Practices Act and the UK Anti-Bribery Act, and any similar anti-bribery laws applicable to its business activities. Each party represents and warrants that it will comply with all laws applicable in the countries where it
operates, as well as the Foreign Corrupt Practices Act of the United States, which relates to the conduct of business practices and all similar laws that may prohibit gratuities, inducements, or certain other payments; including, payments of money
or anything of value offered, promised or paid, directly or indirectly, to any government official, or public or political officer, or other person to induce such person or official to use their influence with a government or instrumentality to
obtain an improper business advantage for Cytori or Bimini in relation to this Agreement. Bimini acknowledges that Cytori is subject to certain United States laws, including the Foreign Corrupt Practices Act of 1977 and any of its amendments, which
may apply to activities carried out outside the United States of America. Neither Party will take nor omit to take any action if such act or omission would cause Cytori or Bimini to be in violation of any such laws. 

3.13.1 United States Export Controls. Each Parties sale and delivery of Products to the other shall be subject in all respects to such
laws and regulations of the United States of America (including, but are not limited to, those of the Export Administration Regulations of the U.S. Department of Commerce (the “EAR”), and the laws of any other country (as applicable) which
may restrict or require licenses for the export of Items from the United States (and/or the other country) and their re-export from other countries) as 

 
shall from time to time govern the sale and delivery of goods abroad by persons subject to the jurisdiction of the countries in which it operates and the U.S. Neither Party will directly or
indirectly export, re-export or transship any of the products, even though otherwise permitted by this Agreement or by subsequent authorization from the manufacturing Party, except as shall be permitted by the applicable laws in effect from time to
time. Upon the reasonable request by manufacturing Party, purchasing party shall give written assurances against such export, re-export or transshipment. 
  

	3.14	QUALITY& PACKAGING. 

 3.14.1 Product Quality. Each manufacturing Party and its
Assignees shall be responsible for compliance with present and future applicable statutes, laws, ordinances and regulations of the United States and the European Economic Community now or hereafter in effect relating to the manufacture and quality
of the Celution and/or Puregraft Products and/or Standalone Fat Transplantation Products manufactured by or for such Party (as applicable). Furthermore, manufacturing Party and its Assignees shall: (i) maintain and comply with inspection and
process control systems with respect to the manufacture of products as required by applicable law, and (ii) maintain a documented quality system that encompasses the following areas: how quality documents are generated and controlled, how
manufacturing processes are controlled, how special or automated processes are validated, how suppliers are controlled, how test equipment is calibrated and controlled, handling of defective material, how corrective action processes are controlled,
and how statistical process control is implemented, The ISO 13485:2003 Standard and the FDA Quality System Regulation (Code of Federal Regulations 21 CFR Part 820) should be referenced as examples of Quality System structure and discipline.
Manufacturing Party agrees that it shall at all times use its best efforts to remain in compliance with all applicable Laws in the United States and European Economic Community applicable to a medical device manufacturers. 

3.14.2Product Packaging. Manufacturing Party agrees to cause the products it supplies hereunder to be packed pursuant to its standard
export procedure and its quality systems, which procedure and systems will be compliant with US & EU industry standards and all applicable US & EU laws and regulations. The above notwithstanding, purchasing Party shall be
responsible for advising manufacturing Party with respect to necessary compliance information sufficient to comply with local packaging regulations and other requirements in the countries in which it intends to sell the products supplied herein
outside of the US and EU. 
  

	3.15	PATENT OWNERSHIP AND RIGHTS TO INVENTIONS. 

 3.15.1 No Ownership of Celution
Technology By Bimini. Except for the rights expressly granted in this Agreement, Bimini shall not be deemed by anything contained in this Agreement or done pursuant to this Agreement to acquire 

 
any right, title or interest in or to any Celution related Cytori Technology, or any hereinafter developed Celution related Cytori Technology. Any products, documents, materials, training or
other disclosures or representations of the Celution related Cytori Technology disclosed in any manner to Bimini shall be referred to as the “Cytori Material”. 

3.15.2 Celution Related Inventions. Cytori and Bimini hereby agree that any discoveries, improvements, inventions, processes,
techniques, know-how and data, whether or not patentable, made or conceived or reduced to practice or learned by Bimini and/or any of Bimini’s Affiliates or sublicensees under this Agreement (“Bimini Party(ies)”), that modifies or
incorporates the Cytori Materials (such discoveries, improvements, inventions, processes, techniques, know-how and data are collectively referred to as “Bimini Inventions”) are hereby granted to and shall be jointly owned by the Parties
for use (at no extra cost) in the Hair Field, and that all rights outside the Hair Field are hereby granted to and assigned perpetually and exclusively to Cytori. 

3.15.3Puregraft Related Inventions. Cytori and Bimini hereby agree that any discoveries, improvements, inventions, processes,
techniques, know-how and data, whether or not patentable, made or conceived or reduced to practice or learned by either Party and/or its Affiliates, assignees or sublicensees under this Agreement (“Invention Party(ies)”), that modifies or
incorporates the Standalone Fat Transplantation Products technology, including the Puregraft Products (such discoveries, improvements, inventions, processes, techniques, know-how and data are collectively referred to as “Standalone Fat
Transplantation Inventions”) are solely owned by Bimini, excepting only [REDACTED]*. 
 3.15.4 Invention Disclosure Puregraft.
Cytori shall disclose in writing to Bimini all Standalone Fat Transplantation Inventions, whether or not patentable, within thirty (30) days of identification or development, or within 30 days of Cytori’s written receipt of same from any
Cytori affiliate, sublicensee, assignee or successor in interest, as the case may be. Bimini and Cytori shall cooperate to the extent reasonably necessary in the preparation, filing and prosecution of any patent applications by Bimini. 

3.15.5 Invention Disclosure Celution. Bimini shall disclose in writing to Cytori all Bimini Celution related Inventions, whether or not
patentable, within thirty (30) days of identification or development or within thirty (30) days of Bimini’ written receipt of same from any Bimini affiliate, sublicensee, assignee or successor in interest, as the case may be. Bimini
shall cooperate with Cytori to the extent reasonably necessary in the preparation, filing and prosecution of any patent applications by Cytori. 

  
  

	*	Material has been omitted pursuant to a request for confidential treatment, and the omitted contents were filed separately with the Securities and Exchange Commission. 

	3.16	ACCRUED LIABILITIES. The expiration or sooner termination of Section 3 of this Agreement for any cause shall not release any Party hereto from any liability which, at the time of such expiration or
termination, has already accrued against such Party (or which thereafter may accrue against such Party in respect of any act or omission occurring prior to such expiration or termination), nor shall any such expiration or termination of this
Agreement affect in any way the survival of any right, duty or obligation of any Party hereto which is expressly stated elsewhere in this Agreement to survive expiration or earlier termination hereof. 

 

	3.17	EXAMINATION AND AUDIT OF BOOKS & RECORDS. Each party (a) shall maintain for at least five (5) years its books, records, contracts and accounts relating to the manufacture, marketing and sale of
the products covered in this Agreement, including, without limitation, information concerning customer accounts (both distributors and end-user sales identity), inventory levels, unit sales, historical product sales prices, competitor information,
market trends and strategies, promotional activities, manufacturing expenses and any other information reasonably required to calculate the COGS and royalty payments required in this Agreement, and compliance with each parties marketing rights and
restrictions(collectively, “Auditable Information”), and (b) shall permit examination of the Auditable Information to the extent necessary to confirm compliance with this Agreement at all reasonable times and upon reasonable notice
(in no event shall such notice be less than five (5) days) by the other Party, and(c)shall allow representatives of the other Party at any reasonable time to examine its place(s) of businesses and inventory of products. 

The parties hereby also agree to meet at least annually (or semi-annually at either parties written request) to review end-user sales patterns
to confirm substantial compliance with each parties sales activities with the marketing rights as granted (or retained) herein. In the event of significant discrepancies, the parties shall mutually agree to amend their marketing practices to
eliminate activities outside of the rights granted herein in an equitable manner. 
  

	3.18	RETURN OF CONFIDENTIAL INFORMATION. Upon expiration or sooner termination this Agreement, the Receiving Party shall immediately cease all use of the Disclosing Party’s Confidential Information and shall, in
accordance with Disclosing Party’s reasonable written instructions, promptly return to Disclosing Party or destroy all Confidential Information of the Disclosing Party, including, without limitation, all copies (in electronic form or otherwise)
in Receiving Party’s possession and any notes or memoranda that contain Confidential Information of the Disclosing Party. The Receiving Party shall certify in a writing signed by an officer or director of the Receiving Party that all such
Disclosing Party Confidential Information has been returned, deleted or destroyed. 

  

	3.19	LIMITATION OF LIABILITY. 

 TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT
SHALL ANY PARTY BE LIABLE TO THE OTHER PARTY OR TO 

 
ANY THIRD PARTY FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES OF ANY NATURE (INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF BUSINESS, LOSS OF PROFIT OR REVENUES, LOSS OF USE OF
THE PRODUCTS OR ANY ASSOCIATED EQUIPMENT, COST OF CAPITAL, COST OF SUBSTITUTE PRODUCTS, FACILITIES OR SERVICE, DOWNTIME, PERSONAL PROFITS, BUSINESS INTERRUPTION, OR ANY OTHER PECUNIARY LOSS) ARISING OUT OF OR IN ANY WAY RELATED TO THE PARTIES’
PERFORMANCE OR FAILURE TO PERFORM UNDER THIS AGREEMENT, WHETHER SUCH LIABILITY IS ASSERTED ON THE BASIS OF CONTRACT, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY) OR OTHERWISE, EVEN IF THE OTHER PARTY HAS BEEN WARNED OF THE POSSIBILITY OF SUCH
DAMAGES. EXCEPT TO THE EXTENT SPECIFICALLY PROVIDED OTHERWISE IN THIS AGREEMENT, ALL REMEDIES PROVIDED FOR HEREUNDER, INCLUDING, BUT NOT LIMITED TO, THE RIGHT TO TERMINATE THIS AGREEMENT AND ALL OF THE REMEDIES PROVIDED BY LAW (AND NOT EXCLUDED
PURSUANT TO THE FOREGOING SENTENCE), SHALL BE DEEMED CUMULATIVE AND NON EXCLUSIVE. FOR THE AVOIDANCE OF DOUBT, THE FOREGOING PROVISIONS OF THIS SECTION 3.19 DO NOT PRECLUDE DIRECT DAMAGES FOR BREACH OF THIS CONTRACT BY EITHER PARTY. 

 

	4.	MISCELLANEOUS PROVISIONS 

  

	4.1	Governing Law. This Agreement shall be governed in all respects by the laws of Illinois without regard to provisions regarding choice of laws. 

 

	4.2	Dispute Resolution. Except for Bimini’s right to specific performance provided in Section 2.2.2 which may be enforced (including in the first instance) in a Court of law, all disputes arising out of or
in connection with this Agreement, or any relationship created by or in accordance with this Agreement, shall be finally settled under the Rules of the American Arbitration Association (the “Rules”) by three arbitrators. Judgment on
the award rendered by the panel of arbitrators shall be binding upon the Parties and may be entered in any court having jurisdiction thereof. Bimini shall nominate one arbitrator and Cytori shall nominate one arbitrator. The arbitrators so nominated
by Bimini and Cytori, respectively, shall jointly nominate the third arbitrator within fifteen (15) days following the confirmation of arbitrators nominated by Bimini and Cytori. If the arbitrators nominated by Bimini and Cytori cannot agree on
the third arbitrator, then such third arbitrator shall be selected as provided in the Rules. The place of the arbitration and all hearings and meetings shall be Chicago, USA for the Standalone Fat Transplantation Products and Puregraft Products and
San Diego, CA for the Celution Products, unless the Parties to the arbitration otherwise agree. The arbitrators may order pre-hearing production or exchange of documentary evidence, and may require written submissions from the relevant Parties
hereto, but may not otherwise order pre-hearing depositions or discovery. The arbitrators shall apply the laws of Illinois as set forth in Section 4.1; provided, however, that the Federal Arbitration Act shall govern. The language of the
arbitral proceedings shall be English. The arbitrators shall not issue any award, grant any relief or take any action that is prohibited by or inconsistent with the provisions of this Agreement. 

 No arbitration pursuant to this Section 4.2 shall be commenced until the Party intending to
request arbitration has first given thirty (30) days written notice of its intent to the other Party, and has offered to meet and confer with one or more responsible executives of such other Party in an effort to resolve the dispute(s)
described in detail in such written notice. If one or more responsible executives of the other Party agree, within thirty (30) days after receipt of such written notice, to meet and confer with the requesting Party, then no arbitration shall be
commenced until the Parties have met and conferred in an effort to resolve the dispute(s), or until sixty (60) days has elapsed from the date such written notice has been given. 

 

	4.3	CLAIMS & INDEMNIFICATION. Each Party shall promptly notify the other of any potential or actual litigation or governmental action relating to the Standalone Fat Transplantation and Puregraft Products or
Celution Products (to the extent relevant to the other Party) or their use. Notifying Party shall provide such notice as soon as possible, but not to exceed five (5) business days from the time that such party learns of any threatened claim or
litigation activity. The right to indemnification shall not be waived by the late provision of notice specified above, except to the extent such late notices prejudices the defense of the Claim. 

 

	 	(a)	Indemnification by Bimini. Except to the extent Cytori is obligated to indemnify, defend and hold Bimini harmless hereunder, Bimini, and its successors and assigns will indemnify, defend and hold harmless Cytori
and its affiliates, officers, directors and employees and assigns (the “Cytori Indemnified Parties”) from any claim, liability, loss, damage, lien, judgment, expense and cost (including reasonable attorneys’ fees and other litigation
expenses) with respect to any 3rd party claims against a Cytori Indemnified Party arising from Bimini’s, and its successors, assigns, sublicensees and/or customers: (a) operations, or facilities; (b) its sale and use of the Puregraft
or Celution Products; (c) Products liability claims (for Products manufactured by or on behalf of Bimini); (d) failure to comply with applicable Laws; or (d) the negligence or willful misconduct in the handling, labeling, manufacture,
inspection, packaging, storage and delivery, marketing, sale or disposal of the Puregraft or Celution Products. Nothing in the foregoing shall obligate Bimini to indemnify Cytori to the extent a third party claim is the result of a material breach
by Cytori of this Agreement, or to the extent the claim is one for which Cytori is obliged to indemnify Bimini hereunder (collectively, “Cytori Claims”). 

 

	 	(b)	 Indemnification by Cytori. Except to the extent Bimini is obligated to indemnify, defend and hold Cytori harmless hereunder, Cytori, and its
successors and assigns will indemnify, defend and hold harmless Bimini and its affiliates, officers, directors and employees and assigns (the “Bimini Indemnified Parties”) from any claim, liability, loss, damage, lien, judgment, expense
and cost (including reasonable attorneys’ fees and other litigation expenses) with respect to any 3rd party claims against a 

	 	
Bimini Indemnified Party arising from Cytori’s, and its successors, assigns, sublicensees and/or customers: (a) operations, or facilities; (b) its sale and use of the Puregraft or
Celution Products; (c) products liability claims (for Products manufactured by or on behalf of Cytori); (d) failure to comply with applicable Laws; or (e) the negligence or willful misconduct in the handling, labeling, manufacture,
inspection, packaging, storage and delivery, marketing, sale or disposal of the Standalone Fat Transplantation Products or Puregraft Products or Celution Products. Nothing in the foregoing shall obligate Cytori to indemnify Bimini to the extent any
such claim is the result of a material breach by Bimini of Bimini’ obligations under this Agreement, or to the extent the claim is one for which Bimini is obliged to indemnify Cytori hereunder (collectively, “Bimini Claims”).

  

	 	(c)	Procedure. Indemnifying party shall have the right to control the defense of any claim for which indemnification is tendered provided it promptly assumes such defense and selects counsel reasonably acceptable to
the party to be indemnified, and provided reasonable assurances with respect to the capability to conduct such defense (financial or otherwise) can be provided. The indemnified party shall cooperate in the defense and shall have the right to consent
to any settlement of the claims provided that such consent may not be unreasonably withheld or delayed in the event that the proposed settlement fully releases the indemnified party from all Claims. 

 

	4.5	SUCCESSORS AND ASSIGNS. Except as otherwise expressly provided herein, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and
administrators of the Parties hereto. 

  

	4.6	ENTIRE AGREEMENT. This Agreement and the attachments, schedules and exhibits hereto, which are hereby expressly incorporated herein by this reference, constitute the entire understanding and agreement between the
Parties with regard to the subject matter hereof and thereof, and this Agreement supersedes, cancels and annuls in its entirety any and all prior or contemporaneous agreements and understandings, express or implied, oral or written among them with
respect thereto. No alteration, modification, interruption or amendment of this Agreement shall be binding upon the Parties unless in writing designated as an amendment hereto, and executed with equal formality by each of the Parties.

  

	4.7	NOTICES. Except as otherwise expressly provided herein, all notices, requests, waivers and other communications made pursuant to this Agreement shall be in writing and shall be deemed to have been duly given
(a) when hand delivered to the other Party; (b) when received, if sent by facsimile at the address and number set forth below, with a written confirmation copy of such facsimile sent the next business day in accordance with (c) below;
(c) the second business day after deposit with a national overnight delivery service, postage prepaid, addressed to the other Party as set forth below, provided that the sending Party receives a confirmation of delivery from the delivery
service provider; or (d) if earlier, when actually received. 

			
	 To Cytori:
  

3020 Callan Road, San Diego, CA

92121, U.S.A.
  

Attn: Christopher J. Calhoun

Fax:   858-458-0995
	 	 To Bimini:
  

3020 Callan Road, San Diego, CA
 92121, U.S.A.

 
 Attn: Bradford A. Conlan

Fax:   858-458-0995

 A Party may change or supplement its address set forth above, or may designate additional addresses, for
purposes of this Section 4.6, by giving the other Party written notice of the new address in the manner set forth above. 
  

	4.8	AMENDMENTS AND WAIVERS. No term or provision of this Agreement may be amended, waived, discharged or terminated orally but only by an instrument in writing signed by the Party against whom the enforcement of such
amendment, waiver, discharge or termination is sought. Any waiver shall be effective only in accordance with its express terms and conditions. 

  

	4.9	CUMULATIVE REMEDIES. Unless expressly so stated in this Agreement in respect of any particular right or remedy, the rights and remedies herein provided are cumulative and not exclusive of any rights or remedies
provided by law. 

  

	4.10	TITLES AND SUBTITLES. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

 

	4.11	RELATIONSHIP OF PARTIES. This Agreement shall not be deemed to constitute either Party, the agent, the partner, the licensee, the affiliate or the representative of the other Party, and neither Party shall
represent to any third party that it has any such relationship or right of representation. 

  

	4.12	PRESS RELEASE. No public announcements or press releases shall be issued by either Party regarding this Agreement or any of the activities engaged in by the Parties pursuant to this Agreement without the prior
written approval of the other Party; provided, however, that either Party shall have the right to make such public disclosure as may be necessary or appropriate to comply with applicable securities or other laws. 

 

	4.13	COUNTERPARTS. This Agreement may be executed by facsimile signature in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. 

 

	4.14	SEVERABILITY. Should any provision of this Agreement be determined to be illegal or unenforceable, such determination shall not affect the remaining provisions of this Agreement. 

	4.15	[REDACTED]* employment with Cytori will be terminated and initiated with Bimini Technologies upon closing. Until 30 days after all milestones from section 2.2.2 have been completed; (a)up to three people from Bimini
will reside at Cytori headquarters at 3020 Callan Road, San Diego, CA 92121 free of charge; and (b) Bimini shall be responsible for all Bimini employee insurance, and Bimini liability insurance, and Bimini shall indemnify Cytori for any claim
asserted against Cytori caused by the Bimini employees, or any claim by a Bimini employee. Cytori and the Landlord shall be named additional insured on each insurance policy of Bimini. 

Cytori and Bimini intend to share the time of certain individuals and each pay such individuals for the portion of their time expended on
Cytori or Bimini business for their respective matters. 
  

	4.16	The rights and obligations of each Party herein, shall survive any transfer of assets or interests or assignments by either Party and be fully binding on any purchaser or successor in interest to such rights and
obligations. 

 (Signature page follows) 

  
  

	*	Material has been omitted pursuant to a request for confidential treatment, and the omitted contents were filed separately with the Securities and Exchange Commission. 

 IN WITNESS WHEREOF, the Parties have executed this Sale and Exclusive License/Supply Agreement as of the
Effective Date. 
  

									
	CYTORI THERAPEUTICS, INC	 		 	BIMINI TECHNOLOGIES LLC
					
	By:	 	 /s/ Christopher J. Calhoun
	 		 	By:	 	 /s/ Bradford A. Conlan

	 Name: Christopher J. Calhoun

Title:   Chief Executive Officer
 Date:
  July 30, 2013
	 		 	 Name: Bradford A. Conlan

Title:   Chief Executive Officer
 Date:   July
30, 2013

	 		 

 LIST OF EXHIBITS &SCHEDULES

  

			
	Exhibit A:	  	Description of Puregraft Products
	Exhibit B:	  	Description of Celution Products
	Exhibit C:	  	Description of Ancillary Products
	Exhibit D:	  	NDA
		
	Schedule 1:	  	Limited Warranties for Celution Products
	Schedule 2:	  	Limited Warranties for Puregraft Products

 EXHIBIT A 

PUREGRAFT PRODUCT LINE 

Puregraft Product Line Description- 
 The Puregraft
Products are a series of Standalone Fat Transplantation products that were developed to improve the predictability of outcomes for autologous fat grafting and aesthetic body contouring. With advanced filtering capabilities, the Puregraft System
selectively washes the tissue and drains the tumescent fluid, free lipids, and debris in less than 15 minutes, streamlining the graft preparation process. The Puregraft System is easy to operate, allowing graft preparation within a closed system and
can be performed on the sterile field without the need for any mechanical equipment. It also allows physicians to adjust the hydration level of the graft to suit their surgical technique. 

The Puregraft System is a sterile, single-use consumable set that includes a mixing bag, waste bag, tubing set, and tissue transfer adapters. The
Puregraft System is currently available in two sizes (with a third size under development): 
  

					
	 Product Name
	 	 Image
	 	 Description

			
	 The Puregraft 250

System
 Product
code:
 250/PURE or
 250/PURE-EU
	 	

	 	 Puregraft 250 (Quantity: 1)
  

Puregraft 250 Drain Bag (Quantity: 1)
  

Inlet Tubing Set (Quantity: 1)
  

Tissue Access Port Adapters (TAPAs) (Quantity: 8)
  

Luer Lock Syringe Adapter (Quantity: 2)

			
	 The Puregraft850

System
 Product
code:
 850/PURE or
 850/PURE-INT
	 	

	 	 Puregraft 850 (Quantity: 1)
  

Puregraft 850 Drain Bag (Quantity: 1)
  

Inlet Tubing Set (Quantity: 1)
  

Tissue Access Port Adapters (TAPAs) (Quantity:8)
  

Luer Lock Syringe Adapter (Quantity: 2)

					
	 The Puregraft 50

System

(in Development)

Product code:
	 	

	 	 Puregraft 50 (Quantity: 1)
  

(Subject to final configuration)

			
	 Puregraft Instrument Set

Product code:550/IS
	 	

	 	 The Puregraft Instrument Set is composed of two reusable instruments designed for optimal fluid flow and drainage of the fluid and
contaminants within the Puregraft System.
  
 The Puregraft Instrument
Set includes:
 Puregraft Easel (Quantity: 1)

Puregraft Slider (Quantity: 1)

 EXHIBIT B 

CELUTION PRODUCTS 
  

					
	 Product Name
	 	 Image
	 	 Description

			
	 Celution 800/CRS Device
	 	

	 	An automated, electromechanical device containing multilingual, interactive software that facilitates the extraction and concentration of ADRCs, using validated algorithms programmed into the device’s software, standardizing
tissue disaggregation, centrifugation and therapeutic- specific processes.
			
	 Celution 805/CRS Consumable Set
	 	

	 	A sterile, single-use set used with the Celution Device to process tissue and extract ADRCs within a closed system.
			
	 Celase Reagent
	 	

	 	Celase® is a proprietary enzyme blend that releases ADRCs from the extracellular matrix of adipose tissue, optimized for use with the Celution device and consumable set.
Celase is a sterile, pharmaceutical grade, mammalian-free reagent that is manufactured in compliance with Good Manufacturing Practices (GMP) standards.

 EXHIBIT C 

ANCILLARY PRODUCTS 
  

					
	 Cytori 530/IS Tissue Collection Instrument Set
	 	

	 	The Tissue Collection Instrument Set contains a collection of autoclavable components required for liposuction (200-360mL of tissue) under local anesthesia using a hand-held syringe.
			
	 Cytori 540/IS Graft Delivery Instrument Set
	 	

	 	The Graft Delivery Instrument Set contains a collection of autoclavable components carefully selected for the optimal delivery of autologous fat grafts. The set contains two
Celbrush® 10 mL delivery devices, adapters, connectors and cannulas .[Note- PG Easel and Slider not included]
			
	 Cytori Celbrush 10 mL: 510/CRS

 
 Cytori Celbrush 3 mL: 503/CRS
	 	

	 	Cytori’s Celbrush is a stainless steel, precision surgical instrument used with the Soft-Ject syringe that enables controlled micro-droplet delivery of an autologous fat graft. The thumb-wheel design gives the Celbrush a
mechanical advantage over manual syringe delivery by minimizing the build-up of pressure within the syringe.
			
	 Cytori 200/CK Convenience Kit
	 	

	 	The Cytori 200/CK Procedure Pack contains all necessary components for a single Celution procedure, including ancillary products for tissue collection, tissue processing, and delivery. The ready-to-use components are single-use,
minimizing the risk of contamination for patients, healthcare staffs, surgeons, and system operators.
			
	 Puregraft Convenience Kit
  

Product Code: 250/CK
	 	

	 	 The Puregraft Convenience Kit is a collection of single-use components packaged together to provide the user with all of the ancillary items
needed to perform a Puregraft procedure. The components are used to assist in the liposuction, transfer, and removal of tissue from the Puregraft System and preparation of the graft for re-injection into the same patient.

 
 The Puregraft Convenience Kit includes:

 
 10 mL Soft-Ject Syringe (Quantity: 5)

Flexible Syringe Cap (Quantity: 10)

60 mL Toomey Syringe (Quantity: 10)

 Exhibit D 

Mutual Nondisclosure Agreement 
 This MUTUAL
Non-Disclosure Agreement (the “Mutual NDA”), dated as of July 29, 2013 (the “Effective Date”), by and among Cytori Therapeutics, Inc., a Delaware corporation with its principal place of business located at 3020 Callan Road,
San Diego, CA 92121, U.S.A. (“Cytori”), and BIMINI TECHNOLOGIES LLC, a corporation with its principal office at 3020 Callan Road, San Diego, CA 92121 (“Bimini”). Cytori and Bimini may each individually be referred to herein as a
“Party” and collectively as the “Parties,” as the context may require. 
 RECITALS 

WHEREAS, Cytori has acquired, developed and possesses, through the expenditure of considerable time, effort and money, certain proprietary products and
intellectual property rights (including medical devices, techniques and therapies, know-how, patents, patent applications and technical trade secrets) in connection with regenerative cell technology, cell/tissue banking technology, and adipose
tissue processing and preparation technology used to carry out regenerative cell therapies and autologous fat transplantation (“Cytori Technology”); and 

WHEREAS, Cytori and Bimini have entered into the SALE AND EXCLUSIVE LICENSE / SUPPLY AGREEMENT by and between Cytori and Bimini, dated as of July 29,
2013 (the “SLSA”); 
 WHEREAS, on and subject to the terms and conditions set forth herein, and in accordance with the SLSA, the Parties desire to
exchange confidential information and materials with each other (from time to time in connection with the manufacturing and supply of the Puregraft Products and Celution Products (as defined in the SLSA). 

WHEREAS, Cytori and Bimini are willing to disclose and receive such confidential information and materials under the terms and conditions set forth in this
Mutual NDA. 
 NOW, THEREFORE, in consideration of the foregoing, the mutual promises herein contained, and for other good and valuable consideration, the
receipt and adequacy of which are acknowledged, the Parties agree as follows: 
  

	1)	Definitions. 

  

	1.1	 “Confidential Information” shall mean (a) any information disclosed by or on behalf of one party (“Disclosing Party”) to
another party (“Receiving Party”), marked as confidential if in written (including electronic) form, or if in oral form, if followed by a writing confirming that the information is “Confidential” within thirty (30) business
days after oral disclosure, (b) any information, whether or not such materials are marked or confirmed as confidential, that is treated as confidential by the Disclosing Party, and is reasonably understood to be the Disclosing Party’s
confidential information, and (c) information designated as “Technology & Source Codes in Escrow” (as defined in the SLSA), including but not limited to information related to the Celution Products manufacturing technology
and software codes as well as the PureGraft Product manufacturing technology. For the avoidance of doubt, “Confidential Information” shall 

	 	
also include, without limitation, financial or business information of the Parties, tangible materials containing Confidential Information, such as, among other things, technical information,
written or printed documents, processes and raw material reduced to formulae, and computer print-outs, disks, memory devices or tapes, whether machine or user readable; objects of a proprietary nature, including, without limitation, specifications,
biochemical and biological materials, reagents, samples, models, and prototypes, regardless of whether such Confidential Information is related to the Puregraft and/or Cytori Product(s) (as defined in the SLSA), or any matter relating to this Mutual
NDA; and any proprietary information of a third party which has been entrusted to the Disclosing Party. 

  

	1.2	“Affiliate” shall mean, as to any Party, any Person that, directly or indirectly, controls, or is controlled by, or is under common control with, such Party, where “control” (including, with its
correlative meanings, “controlled by” and “under common control with”) means (a) the beneficial ownership of fifty percent (50%) or more of the outstanding voting securities of a Party, or (b) the possession,
directly or indirectly, of the power to direct or cause the direction of management or policies of a Party, whether through the ownership of securities or partnership or other ownership interests, by contract or otherwise. 

 

	2)	Obligations. 

  

	2.1	The Receiving Party shall hold in confidence and not use or disclose (except solely as permitted in Paragraph 4, below, and subject to the terms and conditions of Paragraph 4) Confidential Information of the Disclosing
Party for any purposes other than those set forth in the SLSA (the “Purpose”). The Receiving Party shall treat the Confidential Information of the Disclosing Party as it would its own proprietary information, and shall take all reasonable
precautions to prevent the disclosure of the Disclosing Party’s Confidential Information to any third party, other than an Affiliate (as defined in the SLSA) of the Receiving Party which agrees to also be bound by this Mutual NDA, without the
prior written consent of the Disclosing Party. 

  

	2.2	The rights and obligations set forth herein shall commence on the Effective Date and shall continue in full force and effect for the duration of the term of the SLSA, unless earlier terminated as provided per the
termination provisions in the SLSA. In such case of earlier termination, such rights and obligations set forth herein shall expire seven (7) years from the date of termination. However, such rights and obligations shall run in perpetuity for
information designated as “Trade Secret” by the Disclosing Party at the time of disclosure. 

  

	3)	Exceptions. 

  

	 	3.1	Each Party shall be prospectively relieved of any and all obligations under Paragraph 2 of this Mutual NDA regarding information of the Disclosing Party which: 

 

	 	(a)	is or becomes a part of the public domain through no fault of the Receiving Party or any party to whom the Receiving Party has disclosed the information pursuant to Paragraph 4, below; or 

 

	 	(b)	the Receiving Party can demonstrate was in its rightful possession, without a restriction on use or disclosure, prior to receipt of the information from the Disclosing Party or an entity acting on its behalf; or

	 	(c)	the Receiving Party can demonstrate was rightfully received from a third party without a restriction on use or disclosure; or 

  

	 	(d)	the Receiving Party can demonstrate by written evidence was independently developed by the Receiving Party without access to or use of (directly or indirectly) Confidential Information of the Disclosing Party; or

  

	 	(e)	is required to be, and is, disclosed in response to a valid order from a judicial or administrative authority; provided, however, that the Receiving Party shall promptly notify the Disclosing Party upon its receipt of
such order, shall use commercially reasonable efforts to limit disclosure, and shall make commercially reasonable efforts to obtain confidential treatment or a protective order for the disclosure so ordered, and prior to such disclosure to permit
the Disclosing Party to oppose same by appropriate legal action. 

  

	 	3.2	Confidential Information that is disclosed in accordance with this Mutual NDA shall not be deemed to be in the public domain merely because any part of the Confidential Information is embodied in general disclosures, or
because individual features, components or combinations of the Confidential Information or portions thereof are now or become known to the public. 

  

	4)	Permitted Disclosure to Representatives. The Receiving Party shall disclose the Disclosing Party’s Confidential Information (a) only to its employees, agents, consultants or independent contractors (the
“Representatives”) on a “need to know” basis and solely in furtherance of the Purpose; and (b) only if each such Representative shall have first entered into a written agreement with the Receiving Party whereby such
Representative agrees to be bound by similar or more stringent obligations of nonuse and nondisclosure pertaining to the Confidential Information as those imposed on the Receiving Party under this Mutual NDA. The Receiving Party shall ensure that
such Representatives comply with such obligations. 

  

	5)	Return or Destruction of Confidential Information. Upon the written request of the Disclosing Party, the Receiving Party shall return or destroy all copies of the Confidential Information of the Disclosing Party;
provided however, that the Receiving Party may retain one copy of such Confidential Information in its legal files for archival/compliance purposes only. 

  

	6)	No Other Rights. Nothing herein shall be construed (a) to grant to the Receiving Party any express or implied option, license or other right, title or interest in or ownership to the Confidential Information of the
Disclosing Party; (b) to grant to the Receiving Party any option, license or right under any other intellectual property rights of the Disclosing Party; or (c) to obligate a Party to enter into any additional agreement granting any of the
foregoing, by implication or otherwise. 

  

	7)	Remedy. The Receiving Party acknowledges and agrees that, due to the unique nature of the Confidential Information of the Disclosing Party, any unauthorized disclosure or use of the Disclosing Party’s Confidential
Information may cause great or irreparable harm to the Disclosing Party, for which damages would not afford an adequate remedy. The Receiving Party further agrees that the Disclosing Party shall therefore have the right to seek and to obtain
immediate temporary, preliminary and/or permanent injunctive relief, without any requirement to post a bond or other security, in addition to any other rights and remedies it may have at law or in equity. 

	8)	Waiver. A Party’s failure to require any other Party to comply with any provision of this Mutual NDA shall not be deemed a waiver of such provision or any other provision of this Mutual NDA. 

 

	9)	Amendment; Severability. Any modification to or waiver of this Mutual NDA must be made in writing and signed by all Parties, or else it shall not be effective. If any court of competent jurisdiction determines that any
provision of this Mutual NDA is partially or wholly unenforceable under applicable law, such provision shall be construed or reformed so as to render it enforceable to the maximum extent permitted by applicable law, and the remaining provisions of
this Mutual NDA shall remain in full force and effect. 

  

	10)	Entire Understanding. This Mutual NDA shall constitute the entire understanding by and among the Parties with respect to the subject matter hereof, and any prior less restrictive oral and written understandings and
agreements regarding Confidential Information are hereby superseded with respect to any disclosures of Confidential Information after the Effective Date. To the extent any previous non-disclosure or non-use agreement among the Parties, or between
any two Parties, is more stringent than, or is equally stringent as, this Mutual NDA in any regard, then in that regard it shall remain effective in addition to the corresponding provisions of this Mutual NDA. 

 

	11)	Governing Law. This Mutual NDA shall be construed and interpreted in accordance with the laws of the State of New York, without regard to its choice of law principles. 

[The remainder of this page left intentionally blank] 

 IN WITNESS WHEREOF, the Parties by their duly authorized representatives have caused this Mutual Non-Disclosure
Agreement to be executed as of the Effective Date. 
  

			
	CYTORI THERAPEUTICS, INC	  	BIMINI TECHNOLOGIES LLC
		
	By: /s/ Christopher J. Calhoun	  	By: /s/ Bradford A. Conlan
		
	Name: Christopher J. Calhoun	  	Name: Bradford A. Conlan
		
	Title: Chief Executive Officer	  	Title: Chief Executive Officer
		
	Date: July 29, 2013	  	Date: July 29, 2013

 SCHEDULE 1 

LIMITED WARRANTY (CELUTION PRODUCTS) 

LIMITED WARRANTY. Cytori Therapeutics, Inc. (CYTORI) warrants that the Celution Products will operate substantially in conformance with CYTORI’s
published specifications and be free from defects in material and workmanship, when subjected to normal, proper and intended usage by properly trained personnel, for a period of the lesser of: one (1) year from the date of shipment to Bimini
(or “Buyer”), or ninety (90) days from delivery to the end user, whichever occurs first (the “Warranty Period”). CYTORI agrees during the Warranty Period, provided it is promptly notified in writing upon the discovery of any
defect and further provided that all costs of returning the defective Products to CYTORI are pre-paid by Buyer, to repair or replace, at CYTORI’s option, defective Products so as to cause the same to operate in substantial conformance with said
specifications. Replacement parts may be new or refurbished, at the election of CYTORI. All replaced parts shall become the property of CYTORI. Shipment to Buyer shall be paid for by CYTORI during the Warranty Period. Lamps, fuses, bulbs and other
expendable items are expressly excluded from this limited warranty. Buyer shall not return a non-conforming or malfunctioning Product having a risk of causing biological hazard to Cytori. In such case, Buyer must retain such Product, and Contact
Cytori for further assistance. In no event shall CYTORI have any obligation to make repairs, replacements or corrections required, in whole or in part, as the result of (i) normal wear and tear, (ii) accident, disaster or event of force
majeure, (iii) misuse, fault or negligence of or by Buyer, (iv) use of the Products in a manner for which they were not designed, (v) causes external to the Products such as, but not limited to, power failure or electrical power
surges, (vi) improper storage of the Products or (vii) use of the Products in combination with equipment or software not supplied by CYTORI. If CYTORI determines that Products for which Buyer has requested warranty services are not covered
by the warranty hereunder, Buyer shall pay or reimburse CYTORI for all costs of investigating and responding to such request at CYTORI’s then prevailing time and materials rates. CYTORI will provide repair services or replacement parts that are
not covered by the warranty during the Warranty Period subject to Buyer’s payment to CYTORI at CYTORI’s then prevailing time and materials rates for such repairs. ANY DAMAGE CAUSED BY UNAUTHORIZED INSTALLATION, MAINTENANCE, REPAIR,
SERVICE, RELOCATION OR ALTERATION TO OR OF, OR OTHER TAMPERING WITH, THE PRODUCTS PERFORMED BY ANY PERSON OR ENTITY OTHER THAN CYTORI (OR CYTORI’S CERTIFIED DESIGNEES) WITHOUT CYTORI’S PRIOR WRITTEN APPROVAL, OR DAMAGE CAUSED BY USE OF
REPLACEMENT PARTS NOT SUPPLIED BY CYTORI, SHALL IMMEDIATELY VOID AND CANCEL ALL WARRANTIES WITH RESPECT TO SUCH DAMAGE 

 Schedule 2 

LIMITED WARRANTY (PUREGRAFT PRODUCTS/STANDALONE FAT TRANSPLANTATION ) 

LIMITED WARRANTY. Cytori Therapeutics, Inc. and Bimini            (“PG MFG”)
warrants that the Puregraft Products/Standalone Fat Transplantation Products will operate substantially in conformance with PG MFG’s published specifications and be free from defects in material and workmanship, when subjected to normal, proper
and intended usage by properly trained personnel, for a period of the lesser of: eighteen (18) months from the date of shipment to Bimini or Cytori as applicable (“Buyer”), or one (1) year from delivery to the end user, whichever
occurs first (the “Warranty Period”). PG MFG agrees during the Warranty Period, provided it is promptly notified in writing upon the discovery of any defect and further provided that all costs of returning the defective Products to PG MFG
are pre-paid by Buyer, to replace defective Products. Shipment to Buyer shall be paid for by PG MFG during the Warranty Period. Buyer shall not return a non-conforming or malfunctioning Product having a risk of causing biological hazard to PG MFG.
In such case, Buyer must retain such Product, and Contact PG MFG for further assistance. In no event shall PG MFG have any obligation to make replacements required, in whole or in part, as the result of (i) accident, disaster or event of force
majeure, (ii) misuse, fault or negligence of or by Buyer, (iii) use of the Products in a manner for which they were not designed, (iv) causes external to the Products such as, but not limited to improper storage of the Products or
(v) use of the Products in a manner not supported by PG MFG. If PG MFG determines that Products for which Buyer has requested warranty services are not covered by the warranty hereunder, Buyer shall pay or reimburse PG MFG for all costs of
investigating and responding to such request at PG MFG’s then prevailing time and materials rates. ANY DAMAGE CAUSED BY UNAUTHORIZED USE, INSTALLATION, STORAGE OR ALTERATION TO OR OF, OR OTHER TAMPERING WITH, THE PRODUCTS PERFORMED BY ANY
PERSON OR ENTITY OTHER THAN PG MFG (OR PG MFG’S CERTIFIED DESIGNEES) WITHOUT PG MFG’S PRIOR WRITTEN APPROVAL, SHALL IMMEDIATELY VOID AND CANCEL ALL WARRANTIES WITH RESPECT TO SUCH DAMAGEEX-4.2

 Exhibit 4.2 

RULES 
 OF 

THE NATURALMOTION LIMITED 

OPTION PLAN 2012 
 Adopted
by the Board on 20 November 2012 
 Approved by Shareholders on —
201[    ] 
 Amended by the Board on — February 2014 

 CONTENTS 
  

							
	Rule	 	 	  	Page Number	 
			
	 1.
	 	Interpretation	  	 	1	  
			
	 2.
	 	Grant of Options	  	 	4	  
	 2.1
	 	Options granted by the Board	  	 	4	  
	 2.2
	 	Grant of Options determined by the Board	  	 	4	  
	 2.3
	 	Procedure for grant of Options and Date of Grant	  	 	4	  
	 2.4
	 	Contents of Option Agreement	  	 	4	  
	 2.5
	 	Duration of Plan	  	 	5	  
	 2.6
	 	Persons to whom Options may be granted	  	 	5	  
	 2.7
	 	Right to Renounce Options	  	 	5	  
	 2.8
	 	Options non-transferable	  	 	5	  
			
	 3.
	 	Limit on number of Shares placed under option under the Plan	  	 	5	  
	 3.1
	 	General	  	 	5	  
	 3.2
	 	Computation	  	 	5	  
	 3.3
	 	Scaling down	  	 	6	  
			
	 4.
	 	Exercise Price	  	 	6	  
			
	 5.
	 	Exercise of Options	  	 	6	  
	 5.1
	 	Earliest date for exercise of Options	  	 	6	  
	 5.2
	 	Latest date for exercise of Options	  	 	6	  
	 5.3
	 	Persons who may exercise Options	  	 	6	  
	 5.4
	 	Options may be exercised in whole or in part	  	 	6	  
	 5.5
	 	Procedure for exercise of Options	  	 	6	  
	 5.6
	 	Issue or transfer of Shares on exercise of Options	  	 	7	  
			
	 6.
	 	Exercise of options in special circumstances	  	 	7	  
	 6.1
	 	Death	  	 	7	  
	 6.2
	 	Injury, disability, redundancy, retirement etc	  	 	7	  
	 6.3
	 	Other special circumstances	  	 	8	  
	 6.4
	 	Option Holder relocated abroad	  	 	8	  
	 6.5
	 	Meaning of ceasing to be employed within Group	  	 	8	  
	 6.6
	 	Interaction of rules	  	 	8	  

							
	 7.
	 	Takeover, reconstruction or amalgamation, winding up or Sale of Company	  	 	9	  
	 7.1
	 	General offer for Company	  	 	9	  
	 7.2
	 	Compulsory acquisition of Company	  	 	9	  
	 7.3
	 	Power to declare Options exercisable	  	 	9	  
	 7.4
	 	Reconstruction or amalgamation of Company	  	 	9	  
	 7.5
	 	Acceleration of options when no equivalent roll-over offer	  	 	10	  
	 7.6
	 	Winding up of Company	  	 	10	  
	 7.7
	 	Meaning of “obtains Control of the Company”	  	 	11	  
	 7.8
	 	Notification of Option Holders	  	 	11	  
			
	 8.
	 	Exchange of options on takeover of company	  	 	11	  
	 8.1
	 	Exchange of Options	  	 	11	  
	 8.2
	 	Period allowed for exchange of Options	  	 	11	  
	 8.3
	 	Meaning of “equivalent”	  	 	12	  
	 8.4
	 	Date of grant of New Option	  	 	12	  
	 8.5
	 	Application of Plan to New Option	  	 	12	  
			
	 9.
	 	Lapse of options	  	 	12	  
			
	 10.
	 	Adjustment of Options on reorganisation	  	 	13	  
	 10.1
	 	Power to adjust Options	  	 	13	  
	 10.2
	 	Exercise Price	  	 	13	  
	 10.3
	 	Capitalisation of reserves	  	 	13	  
	 10.4
	 	Notification of Option Holders	  	 	13	  
			
	 11.
	 	Scheme shares issued on exercise of options	  	 	13	  
	 11.1
	 	Rights attaching to Shares	  	 	13	  
	 11.2
	 	Availability of Shares	  	 	14	  
			
	 12.
	 	PAYE and National Insurance Contributions	  	 	14	  
	 12.1
	 	Deductions	  	 	14	  
	 12.2
	 	Execution of Option Agreement by Option Holder	  	 	14	  
	 12.3
	 	Transfer of employer’s national insurance contributions	  	 	14	  
	 12.4
	 	Tax Elections	  	 	15	  
	 12.5
	 	Tax status	  	 	15	  
			
	 13.
	 	Relationship of Plan to contract of employment	  	 	15	  
			
	 14.
	 	Administration of Plan	  	 	15	  
	 14.1
	 	Board responsible for administration	  	 	15	  
	 14.2
	 	Board’s decision final and binding	  	 	16	  
	 14.3
	 	Suspension or termination of grant of Options	  	 	16	  

							
	 14.4
	 	Provision of information	  	 	16	  
	 14.5
	 	Shareholder communications	  	 	16	  
	 14.6
	 	Cost of Plan	  	 	16	  
			
	 15.
	 	Amendment of Plan	  	 	16	  
	 15.1
	 	Power to amend Plan	  	 	16	  
	 15.2
	 	Rights of existing Option Holders	  	 	16	  
	 15.3
	 	Notification of Option Holders	  	 	17	  
			
	 16
	 	Notices	  	 	17	  
	 16.1
	 	Notice by Grantor or Administrator	  	 	17	  
	 16.2
	 	Deceased Option Holders	  	 	17	  
	 16.3
	 	Notice to the Company	  	 	17	  
	 16.4
	 	Data Processing	  	 	17	  
	 16.5
	 	Third Party Rights	  	 	17	  
			
	 17
	 	Governing Law	  	 	18	  
		
	 Rules of the US Sub-Plan to the NaturalMotion Limited Option Plan 2012 (the “2012 UK Plan”)
	  	 	19	  
		
	 California Supplement
	  	 	23	  

 RULES OF THE NATURALMOTION LIMITED 

OPTION PLAN 2012 
  

	1	INTERPRETATION  

  

	1.1	In this Plan, unless the context otherwise requires, the following words and expressions have the following meanings: 

  

	 Acquiring Company  
	a company which obtains Control of the Company in the circumstances referred to in rule 7.1; 

  

	 Acting In Concert  
	the meaning given to that expression in The City Code on Takeovers and Mergers in its present form or as amended from time to time; 

  

	 Adoption Date 
	the date on which the Plan is adopted by the Board; 

  

	 Board 
	the board of directors of the Company or a duly authorised committee thereof; 

  

	 Business Day  
	means a day other than a Saturday, Sunday or other day on which banks in San Francisco, California or London, England are required to be closed, or are generally closed for business; 

 

	 Company  
	NaturalMotion Limited incorporated in England and Wales under company number 4304578; 

  

	 Control  
	the meaning given to that word by section 719 of ITEPA; Date of Grant the date on which an Option is granted to an Eligible Employee determined in accordance with rule 2.3; 

 

	 Eligible Employee 
	a director (other than a non executive director) or a bona fide employee of any company within the Group; 

  

	 Employees’ Share Scheme 
	the meaning given to that expression by section 1166 of the Companies Act 2006; 

  

	 Exercise Price 
	the amount per Share payable on the exercise of an Option determined in accordance with rule 4; 

  

	 Group 
	the Company and its Subsidiaries from time to time; 

  
 1 

	 Internal Reorganisation 
	any event, offer, scheme, share purchase, merger or arrangement whereby: 

  

	 	(a) another company obtains Control of the Company; and 

  

	 	(b) immediately afterwards the issued ordinary share capital of such company is owned substantially by the same persons who were equity shareholders of the Company immediately prior to such event, scheme or arrangement
in substantially the same proportions; 

  

	 ITEPA  
	the Income Tax (Earnings and Pensions) Act 2003; 

  

	 Listing 
	the admittance to trading of any class of share capital of the Company on any recognised investment exchange for the purposes of the Financial Services and Markets Act 2000 or securities market including without limitation Nasdaq, Easdaq or the
London Stock Exchange Plc; 

  

	 New Option  
	an option granted by way of exchange under rule 8.1; 

  

	 New Shares 
	the shares subject to a New Option referred to in rule 8.1; 

  

	 Notice of Exercise 
	the notice given in respect of the exercise of an Option under rule 5.5; 

  

	 Option 
	a subsisting right to acquire Shares granted under the Plan; 

  

	 Option Agreement 
	the certificate issued in respect of the grant of an Option under rule 2.3; 

  

	 Option Holder 
	an individual who holds an Option or, where the context permits, his legal personal representatives; 

  

	 Plan 
	The NaturalMotion Limited Option Plan 2012 in its present form or as amended from time to time; 

  

	 Reorganisation  
	 any variation in the share capital of the Company, including but without limitation a 

  
 2 

	 	 
capitalisation issue, rights issue, open offer and a sub division, consolidation or reduction in the capital of the Company or where the Compnay is the subject of a demerger;

  

	 Sale 
	means: 

  

	 	(a)	the disposition of all or substantially all of the assets or businesses of the Company to a third party; 

  

	 	(b)	the sale to a third party of more than fifty percent (50%) of the share capital and voting rights of the Company; or 

  

	 	(c)	the merger or consolidation of the Company with or into another company whereby a third party will acquire, directly or indirectly more than fifty percent (50%) of the share capital and voting rights of the surviving
company in such merger or consolidation, provided always that an Internal Reorganisation shall not be a Sale; 

  

	 Shares 
	fully paid ordinary shares in the capital of the Company; 

  

	 Subsidiary 
	the meaning given to that word in section 1159(I) of the Companies Act 2006; and 

  

	 Trustees 
	the trustees of any trust created by the Company which, when taken together with the Plan, constitutes an Employees’ Share Scheme. 

  

	1.2	In the Plan, unless otherwise specified: 

  

	 	1.2.1	the contents and rule headings are inserted for ease of reference only and do not affect their interpretation; 

  

	 	1.2.2	a reference to a rule is a reference to a rule of the Plan; 

  

	 	1.2.3	a reference to writing includes any mode of reproducing words in a legible form and reduced to paper; 

  

	 	1.2.4	the singular includes the plural and vice-versa and the masculine includes the feminine; 

  
 3 

	 	1.2.5	a reference to a statutory provision includes any statutory modification, amendment or re-enactment thereof; and 

  

	 	1.2.6	the Interpretation Act 1978 applies to the Plan in the same way as it applies to an enactment. 

  

	2	GRANT OF OPTIONS 

  

	2.1	Options granted by the Board  

 The Board may from time to time grant Options to Eligible
Employees under the Plan. 
  

	2.2	Grant of Options determined by the Board 

 Subject to the rules, the Eligible Employees
to whom Options are granted and the terms of such Options shall be determined by the Board in its absolute discretion. 
  

	2.3	Procedure for grant of Options and Date of Grant 

 An Option shall be granted by the
Board passing a resolution granting the Option. The date of grant (“Date of Grant”) of the Option shall be the date on which the Board passes the resolution. As soon as reasonably practicable following the grant of the Option, the Company
shall execute as a deed a certificate in respect of the Option (“Option Agreement”) and send it to the Option Holder. 
  

	2.4	Contents of Option Agreement 

 An Option Agreement shall state: 

 

	 	2.4.1	the Date of Grant; 

  

	 	2.4.2	the number of Shares subject to the Option; 

  

	 	2.4.3	the Exercise Price; 

  

	 	2.4.4	the date or dates on which the Option will ordinarily become exercisable, whether in whole or in part, and the number of Shares over which the Option may then be exercised; 

 

	 	2.4.5	details of any restrictions attaching to Shares, including details of any risk of forfeiture within section 423 ITEPA; 

  

	 	2.4.6	any conditions applicable to the Option. 

 Subject thereto, an Option Agreement shall be in such
form as the Board may determine from time to time. 

  
 4 

	2.5	Duration of Plan 

 An Option may not be granted: 

 

	 	2.5.1	earlier than the Adoption Date; nor 

  

	 	2.5.2	later than the tenth anniversary of the Adoption Date. 

  

	2.6	Persons to whom Options may be granted 

 An Option may not be granted to an individual
who is not an Eligible Employee at the Date of Grant. 
  

	2.7	Right to Renounce Options 

 An Eligible Employee to whom an Option is granted may, by
notice, in writing to the Company within thirty days after the Date of Grant and, if available, accompanied by the Option Agreement, renounce in whole or in part his rights under the Option. In such a case, the Option shall to that extent be
treated, for the purpose of the Plan, as never having been granted. No consideration shall be due from the Company for any such renunciation. Should an Eligible Employee fail to renounce his rights under the Option in accordance with this rule 2.7
then he shall be assumed to have accepted the grant of the Option. 
  

	2.8	Options non-transferable 

 An Option shall be personal to the Eligible Employee to whom
it is granted and, subject to rule 6.1, shall not be capable of being transferred, charged or otherwise alienated and shall lapse immediately if the Option Holder purports to transfer, charge or otherwise alienate the Option. 

 

	3	LIMIT ON NUMBER OF SHARES PLACED UNDER OPTION UNDER THE PLAN 

  

	3.1	General 

 The number of Shares which may be placed under Option under the Plan shall be
limited as set out in the Company’s Articles of Association. In applying the limit, the computational provisions in rule 3.2 shall apply. 
  

	3.2	Computation 

 For the purpose of the limit contained in this rule 3: 

 

	 	3.2.1	there shall be disregarded any Shares which the Trustees have purchased, or determined that they will purchase, in order to satisfy the exercise of an Option; 

 

	 	3.2.2	there shall be disregarded any Shares subject to an Option which has lapsed, or otherwise become incapable of being exercised; and 

  
 5 

	 	3.2.3	any Shares issued on the exercise of an Option shall be taken into account once only (when the option is granted) and shall not fall out of account when the Option is exercised. 

 

	3.3	Scaling down 

 If the grant of an Option would cause the limit in this rule 3 to be
exceeded, such Option shall take effect as an Option over the maximum number of Shares which does not cause the limit to be exceeded. If more than one Option is granted on the same Date of Grant, the number of Shares which would otherwise be subject
to each Option shall be reduced pro rata. 
  

	4	EXERCISE PRICE 

 The amount payable per Share on the exercise of an Option
(“Exercise Price”) shall be determined by the Board but shall not be less than the nominal value of a Share. 
  

	5	EXERCISE OF OPTIONS 

  

	5.1	Earliest date for exercise of Options 

 Subject to rules 6 and 7, an Option may not be
exercised earlier, in relation to the Shares in respect of which the Option is being exercised, than the relevant date specified in the Option Agreement under rule 2.4. 
  

	5.2	Latest date for exercise of Options 

 Subject to rule 6.1, an Option may not be exercised
more than ten years after the Date of Grant and any Option not exercised by that time shall lapse immediately. 
  

	5.3	Persons who may exercise Options 

 Subject to rules 6 and 7, an Option may be exercised
only while the Option Holder is employed within the Group and if an Option Holder ceases to be employed within the Group, any Option granted to him shall lapse immediately. 
  

	5.4	Options may be exercised in whole or in part 

 An Option may, to the extent it has become
exercisable, be exercised in whole or in part. If exercised in part, the unexercised part of the Option shall not lapse and shall remain exercisable. 
  

	5.5	Procedure for exercise of Options 

 An Option shall be exercised by the Option Holder
delivering to the Company a duly completed notice (“Notice of Exercise”) in the form from time to time prescribed by the Board, specifying the number of Shares in respect of which the Option is being exercised and, if available,
accompanied by the Option Agreement and payment in full for the Shares. For the avoidance of doubt, the date of exercise of an Option shall be determined in accordance with rule 17. 

  
 6 

	5.6	Issue or transfer of Shares on exercise of Options 

 Subject to any necessary consents
and to compliance by the Option Holder with the rules, the Company shall, as soon as reasonably practicable and in any event not later than thirty days after receipt of the Notice of Exercise, issue or transfer to the Option Holder, or procure the
transfer to the Option Holder of, the number of Shares specified in the Notice of Exercise and shall deliver or procure the delivery to the Option Holder of, a definitive share certificate in respect of such Shares together with, in the case of the
partial exercise of an Option, an Option Agreement in respect of, or the original Option Agreement endorsed to show, the unexercised part of the Option. 
  

	6	EXERCISE OF OPTIONS IN SPECIAL CIRCUMSTANCES 

  

	6.1	Death 

 Notwithstanding rules 5.1, 5.2 and 5.3, if an Option Holder dies before the tenth
anniversary of the Date of Grant, his personal representatives shall be entitled to exercise his Options that have become exercisable at the date of death at any time during the twelve month period following his death. If not so exercised, the
Options shall lapse immediately. 
  

	6.2	Injury, disability, redundancy, retirement etc 

 Notwithstanding rules 5.1 and 5.3, if an
Option Holder ceases to be employed within the Group before the tenth anniversary of the Date of Grant by reason of: 
  

	 	6.2.1	injury, ill health or disability; 

  

	 	6.2.2	redundancy within the meaning of the Employment Rights Act 1996; 

  

	 	6.2.3	retirement at the age at which he is bound or entitled to retire under the terms of his contract of employment or early retirement by agreement with the company by which he is employed; 

 

	 	6.2.4	the Option Holder being employed by a company which ceases to be a member of the Group; or 

  

	 	6.2.5	the Option Holder being employed in an undertaking or part of an undertaking which is transferred to a person who is not a member of the Group 

he shall be entitled to exercise his Options (only those that have vested) at any time during the period ending three months after the date of
cessation of his employment. 
 If not so exercised, the Options shall lapse immediately. 

  
 7 

	6.3	Other special circumstances 

 Notwithstanding rules 5.1 and 5.3, the Board may, at its
discretion, allow an Option Holder who has ceased to be employed within the Group for a reason other or including those referred to in rules 6.1 and 6.2 to exercise his Options at any time during the period ending twelve months after the date of
cessation of his employment or during such other period as the Board determines. 
 If not so exercised, the Options shall lapse immediately.

  

	6.4	Option Holder relocated abroad 

 Notwithstanding rule 5.1, if it is proposed that an
Option Holder, while continuing to be employed within the Group, should transfer to work in a country other than the country in which he is currently working and, by reason of transfer, the Option Holder would: 

 

	 	6.4.1	suffer less favourable tax treatment with respect to his Options; or 

  

	 	6.4.2	become subject to a restriction on his ability to exercise his Options or to hold or deal in the Shares or the proceeds of sale of the Shares acquired on the exercise of the Options 

the Option Holder may at the discretion of the Board exercise his Options at any time during the period beginning three months before the
proposed date of his transfer and ending three months after the date of his actual transfer. If not so exercised, the Options shall not lapse but continue in force. 
  

	6.5	Meaning of ceasing to be employed within Group 

 For the purpose of rules 6.2 and 6.3, an
Option Holder shall not be treated as ceasing to be employed within the Group until he no longer holds any office or employment in the Company or any Subsidiary or, being a female employee who is absent from work by reason of pregnancy or
confinement, she ceases to be entitled to exercise her right to return to work under the Employment Rights Act 1996. It is noted that a director who is not a full time employee of the Company shall not be treated as being employed within the Group.

  

	6.6	Interaction of rules 

 If an Option has become exercisable under rule 6.2 or 6.3 and,
during the period allowed for the exercise of the Option under rule 6.2 or 6.3, the Option Holder dies, the period allowed for the exercise of the Option shall be the period allowed by rule 6.1. 

If an Option has become exercisable under rule 6 and, during the period allowed for the exercise of the Option under rule 6, the Option becomes
exercisable under rule 7 also (or vice versa), the period allowed for the exercise of the Option shall be the first to determine of the period allowed by rule 6 and the period allowed by rule 7. 

  
 8 

	7	TAKEOVER, RECONSTRUCTION, AMALGAMATION, WINDING UP OR SALE OF COMPANY 

  

	7.1	General offer for Company 

 Notwithstanding rule 5.1, but subject to rule 7.2, if a
person obtains Control of the Company as a result of making: 
  

	 	7.1.1	a general offer to acquire the whole of the issued ordinary share capital of the Company which is made on a condition such that if it is satisfied the person making the offer will have Control of the Company; or

  

	 	7.1.2	a general offer to acquire all the shares in the Company of the same class as the Shares 

 (in
either case, other than any shares already held by him or a person Acting In Concert with him), Options which have already become exercisable may be exercised, subject to rule 7.2, at any time during the five (5) Business Day period ending the
Business Day prior to the time when the person making the offer has obtained Control of the Company and any condition subject to which the offer is made has been satisfied (the “Change of Control”). If not so exercised, the Options shall
lapse on the Change of Control. 
  

	7.2	Compulsory acquisition of Company 

 Notwithstanding rule 5.1, if a person becomes
entitled or bound to acquire shares in the Company under the provisions contained in Chapter 3 of Part 28 of the Companies Act 2006, Options which have already become exercisable may be exercised at any time during the period beginning with the date
the person serves a notice under Chapter 3 and ending seven clear days before the date on which the person ceases to be entitled to serve such a notice. If not so exercised, the Options shall cease to be exercisable and shall lapse when the person
ceases to be entitled to serve such a notice. 
  

	7.3	Power to declare Options exercisable 

 Notwithstanding rules 5.1 and 7.5, if at any time
a person makes such an offer as is referred to in rule 7.1, or an offer to acquire the whole or substantially the whole of the Company’s business, or proposes to obtain Control of the Company in the manner referred to in rule 7.4, the Board
may, in its absolute discretion and by notice in writing to all Option Holders, declare all outstanding Options to be exercisable during a limited period specified by the Board in the notice. If the Board so declares, all outstanding Options may be
exercised at any time during such period. If not so exercised the Option shall lapse immediately. 
  

	7.4	Reconstruction or amalgamation of Company 

 Notwithstanding rule 5.1, if a person
proposes to obtain Control of the Company in pursuance of a compromise or arrangement sanctioned by the court under section 899 of the Companies Act 2006: 
  

	 	7.4.1.	Options which have already become exercisable may be exercised, conditionally on the compromise or arrangement becoming effective, at any 

  
 9 

	 	
time during the period beginning with the date of the meeting of the members of the Company ordered by the court and ending on the earlier of six months thereafter and seven clear days before the
court sanctions the compromise or arrangement; 

  

	 	7.4.2	if the compromise or arrangement becomes effective, any Options not so exercised by the earlier of the dates referred to in rule 7.4.1 shall cease to be exercisable and shall lapse at the end of the six month period
referred to in rule 7.4.1; 

  

	 	7.4.3	if the compromise or arrangement does not become effective within the six month period referred to in rule 7.4.1, any conditional exercise of an Option shall be of no effect and the Option shall continue to exist; and

  

	 	7.4.4	the date of exercise of all Options exercised conditionally under this rule 7.4 shall be deemed to be the date on which the court sanctions the compromise or arrangement. 

 

	7.5	Acceleration of options when no equivalent roll-over offer 

 If the person
referred to in rule 7.1, 7.2 or 7.4 is a company and does not offer Option Holders the opportunity to exchange options in accordance with rule 8 (and in particular satisfies the equivalence requirements of rule 8.3) such offer to take effect upon
Control of the Company passing all Options (whether vested or unvested) shall automatically become exercisable in full and rules 7.1, 7.2 and 7.4 shall apply to all Options (including that part of the Options which are accelerated as a result of the
application of this rule 7.5). 
  

	7.6	Winding up of Company 

 Notwithstanding rule 5.1, if notice is given of a resolution for
the voluntary winding-up of the Company: 
  

	 	7.6.1	Options which have already become exercisable may be exercised, conditionally on the passing of the resolution, at any time during the period beginning with the date the notice is given and ending seven clear days
before the resolution is passed or defeated or the general meeting is concluded or adjourned sine die; 

  

	 	7.6.2	if the resolution is passed, any Options not so exercised shall lapse immediately; 

  

	 	7.6.3	if the resolution is not passed, any conditional exercise of an Option shall be of no effect and the Option shall continue to exist; and 

 

	 	7.6.4	the date of exercise of all Options exercised conditionally under this rule 7.6 shall be deemed to be the date on which the resolution is passed. 

  
 10 

	7.7	Meaning of “obtains Control of the Company” 

 For the purpose of rule 7, a
person shall be deemed to have obtained Control of the Company if he and others Acting In Concert with him have together obtained Control of it. 
  

	7.8	Notification of Option Holders 

 The Board shall, as soon as reasonably practicable,
notify each Option Holder of the occurrence of any of the events referred to in rule 7 and explain how this affects his position under the Plan. 
  

	7.9	Sale 

 Notwithstanding the other provisions of this rule 7, Options which have already
become exercisable may be exercised at any time during the five (5) Business Day period ending the Business Day prior to completion of a Sale. If not so exercised, the Options shall lapse upon completion of the Sale. 

 

	8	EXCHANGE OF OPTIONS ON TAKEOVER OF COMPANY 

  

	8.1	Exchange of Options 

 If the person referred to in rule 7.1, 7.2 or 7.4 (reading the
reference in rule 7.4 to “proposes to obtain” as “obtains”) is a company (“Acquiring Company”), an Option Holder may, at any time during the period set out in rule 8.2, by agreement with the Acquiring Company, release
his Option in whole or in part in consideration of the grant to him of a new option (“New Option”) which is equivalent to the Option but which relates to shares (“New Shares”) in: 

 

	 	8.1.1	the Acquiring Company; or 

  

	 	8.1.2	a company which has Control of the Acquiring Company; or 

  

	 	8.1.3	a company which either is, or has Control of, a company which is a member of a consortium within the meaning of paragraph 36(2) of Schedule 4 to ITEPA which owns either the Acquiring Company or a company having Control
of the Acquiring Company. 

 If not so released, an Option may not be exercised during the relevant period and shall lapse on
expiry of the relevant period. 
  

	8.2	Period allowed for exchange of Options 

 The period referred to in rule 8.1 is: 

 

	 	8.2.1	where rule 7.1 applies, the period of one Business Day following the Change of Control; 

  
 11 

	 	8.2.2	where the rule 7.2 applies, the period during which the Acquiring Company remains so entitled or bound; and 

  

	 	8.2.3	where rule 7.4 applies, the period of six months beginning with the time when the court sanctions the compromise or arrangement. 

  

	8.3	Meaning of “equivalent” 

 The New Option shall not be regarded for the purpose
of this rule 8 as equivalent to the Option unless: 
  

	 	8.3.1	the New Option will be exercisable in the same manner as the Option and subject to the provisions of the Plan as it had effect immediately before the release of the Option; and 

 

	 	8.3.2	the total market value, immediately before the release of the Option, of the Shares which were subject to the Option is as nearly as may be equal to the total market value, immediately after the grant of the New Option,
of the New Shares (market value being determined for this purpose in accordance with Part VIII of the Taxation of Chargeable Gains Act 1992); and 

  

	 	8.3.3	the total amount payable by the Option Holder for the acquisition of the New Shares under the New Option is as nearly as may be equal to the total amount that would have been payable by the Option Holder for the
acquisition of the Shares under the Option. 

  

	8.4	Date of grant of New Option 

 The date of grant of the New Option shall be deemed to be
the same as the Date of Grant of the Option. 
  

	8.5	Application of Plan to New Option 

 In the application of the Plan to the New Option,
where appropriate, references to “Company” and “Shares” shall be read as if they were references to the company to whose shares the New Option relates and the New Shares, respectively, save that in the definition of
“Board” the reference to “Company” shall be read as if it were a reference to NaturalMotion Limited. 
  

	9	LAPSE OF OPTIONS 

 An Option shall lapse on the earliest of: 

 

	 	9.1	subject to rule 7.1, the tenth anniversary of the Date of Grant; 

  

	 	9.2	subject to rules 6.1 to 6.3, the Option Holder ceasing to be employed within the Group; 

  
 12 

	 	9.3	the date on which it is provided that the Option shall lapse under rules 6.1 to 6.3 and 7.1 to 7.6, 7.9 and 8.1; 

  

	 	9.4	the date on which a resolution is passed or an order is made by the court for the compulsory winding-up of the Company; 

  

	 	9.5	the date on which the Option Holder becomes bankrupt, enters into a compromise with his creditors generally or purports to transfer, charge or otherwise alienate the Option. 

 

	10	ADJUSTMENT OF OPTIONS ON REORGANISATION 

  

	10.1	Power to adjust Options  

 In the event of a Reorganisation, the number of Shares subject
to an Option and the Exercise Price may be adjusted in such manner as the Company determines. 
  

	10.2	Exercise Price 

 Subject to rule 10.3, no adjustment shall be made to the Exercise Price
which would result in the Shares subject to an Option being issued at a price per Share lower than the nominal value of a Share and, if an adjustment would so result, the Exercise Price shall be the nominal value of a Share. 

 

	10.3	Capitalisation of reserves 

 Notwithstanding rule 10.2, an adjustment may be made which
would result in the Shares subject to an Option being issued at a price per Share lower than the nominal value of a Share if and to the extent that the Board is authorised to capitalise from the Company’s reserves a sum equal to the amount by
which the aggregate nominal value of the Shares subject to the Options which are adjusted exceeds the aggregate adjusted Exercise Price under such Options. If such an adjustment is made, on the subsequent exercise of the Option, the Board shall
capitalise such sum and apply the sum in paying up such excess. 
  

	10.4	Notification of Option Holders 

 The Board shall, as soon as reasonably practicable,
notify each Option Holder of any adjustment made under this rule 10 and explain how this affects his position under the Plan. The Board may call in for endorsement or cancellation and re-issue any Option Agreement in order to take account of such
adjustment. 
  

	11	SHARES ISSUED ON EXERCISE OF OPTIONS 

  

	11.1	Rights attaching to Shares 

 All Shares issued on the exercise of an Option shall, as to
voting, dividend, transfer and other rights, including those arising on a liquidation of the Company, rank equally in all respects and as one class with the Shares in issue at the date of such exercise save as regards any rights attaching to such
Shares by reference to a record date prior to the date of such exercise. 

  
 13 

	11.2	Availability of Shares 

 The Company shall at all times use its reasonable endeavours to
keep available sufficient authorised but unissued Shares to satisfy the exercise of all Options which the Board has determined will be satisfied by the issue of Shares (whether directly to the Option Holder or indirectly via the Trustees). 

 

	12	PAYE AND NATIONAL INSURANCE CONTRIBUTIONS AND OTHER TAX MATTERS 

  

	12.1	Deductions 

 Where, in relation to an Option granted under the Plan, the Company or any
member of the Group (as the case may be) is liable, or is in accordance with current practice believed by the Board to be liable, to account to HMRC or other authority for any sum in respect of any tax or social security liability of the Option
Holder, the Option may not be exercised unless the Option Holder has beforehand paid the Company or the member of the Group (as the case may be), an amount equal to such sum together with, to the extent permitted by law any social security liability
of the Company or any member of the Group arising in connection with the Option or has entered into some other arrangement to ensure that such amount is available to them or it (whether by authorising the sale of some or all of the Shares subject to
his Option and the payment to the Company or the member of the Group (as the case may be) of the requisite amount of the proceeds of sale or otherwise). 
  

	12.2	Execution of Option Agreement by Option Holder 

 The Board may require an Option Holder
to execute a copy of the Option Agreement or some other document on order to bind himself contractually to any such arrangement as is referred to in rule 12.1 and return the executed document to the Board by a specified date. Failure to return the
executed document by the specified date shall cause the Option to lapse. 
  

	12.3	Transfer of employer’s national insurance contributions 

 The Company may, at its
discretion, impose requirements for the payment by the Option Holder of all or any part of the employer’s national insurance contributions liability which may arise as a result of the exercise of his Option (“Employer’s NIC”).
Such requirements may include in particular, but not by way of limitation, a determination that the Option may not be exercised unless the Option Holder has beforehand paid to the Company (or the member of the Group which employs the Option Holder,
if different) an amount sufficient to discharge all or any part of the Employer’s NIC. Alternatively, the Option Holder may, by agreement with the Company or the member of the Group (as the case may be), enter into some other arrangement to
ensure that such amount is available to them or it (whether by authorising the sale of some or all of the Shares subject to this Option and the payment to the Company or the member of the Group (as the case may be) of the

  
 14 

 
requisite amount out of the proceeds of sale or otherwise). Where this is the case the Option shall not be treated as exercised until the Company or the member of the Group (as the case may be)
determine that such arrangements are satisfactory to it. 
  

	12.4	Tax Elections 

 The Company may at its discretion exercised at any time before the
exercise of an Option determine that the Option may not be exercised unless the Option Holder has beforehand signed an election under chapter 2 of part 7 of ITEPA, or under section 165 of the Taxation of Chargeable Gains Act 1992. 

 

	12.5	Tax status 

 Neither the Company nor any parent or subsidiary of the Company shall have
any liability to the Option Holder if any option (or any part thereof) which is intended to be a qualifying option under Schedule 5 to ITEPA is not or ceases to be such a qualifying option (in whole or in part). 

 

	13	RELATIONSHIP OF PLAN TO CONTRACT OF EMPLOYMENT 

  

	13.1	Notwithstanding any other provision of the Plan: 

  

	 	13.1.1	the Plan shall not form part of any contract of employment between the Company or any Subsidiary and an Eligible Employee; 

  

	 	13.1.2	unless expressly so provided in his contract of employment, an Eligible Employee has no right to be granted an Option; 

  

	 	13.1.3	the benefit to an Eligible Employee of participation in the Plan (including, in particular but not by way of limitation, any Options held by him) shall not form any part of his remuneration or count as his remuneration
for any purpose and shall not be pensionable; and 

  

	 	13.1.4	if an Eligible Employee ceases to be employed within the Group, he shall not be entitled to compensation for the loss of any right or benefit or prospective right or benefit under the Plan (including, in particular but
not by way of limitation, any Options held by him which lapse by reason of his ceasing to be employed within the Group) whether by way of damages for unfair dismissal, wrongful dismissal, breach of contract or otherwise. 

 

	13.2	By accepting the grant of an Option and not renouncing it, an Option Holder is deemed to have agreed to the provisions of this rule 13. 

 

	14	ADMINISTRATION OF PLAN 

  

	14.1	Board responsible for administration 

 The Board shall be responsible for, and shall have
the conduct of, the administration of the Plan. The Board may from time to time make or amend regulations for the administration of the Plan provided that such regulations shall not be inconsistent with the rules of the Plan. 

  
 15 

	14.2	Board’s decision final and binding 

 The decision of the Board shall be final and
binding in all matters relating to the administration of the Plan, including but not limited to the resolution of any ambiguity in the rules of the Plan. 
  

	14.3	Suspension or termination of grant of Options. 

 The Board may terminate or from time to
time suspend the grant of Options. 
  

	14.4	Provision of information 

 An Option Holder shall provide to the Company as soon as
reasonably practicable such information as the Company reasonably requests for the purpose of complying with its obligations under Chapter 1 of part 7 of or Schedule 5 to ITEPA or such other provisions of any tax or national insurance legislation as
the Company considers appropriate. 
  

	14.5	Shareholder communications 

 The Company may send to Option Holders copies of any notice
or other document sent by the Company to its shareholders generally. 
  

	14.6	Cost of Plan 

 The cost of introducing and administering the Plan shall be met by the
Company. The Company shall be entitled, if it wishes, to charge an appropriate part of such cost to a Subsidiary. The Company shall also be entitled, if it wishes, to charge to a Subsidiary the opportunity cost of issuing Shares to an Option Holder
employed by the Subsidiary following his exercise of an Option. 
  

	15	AMENDMENT OF PLAN 

  

	15.1	Power to amend Plan 

 Subject to rule 15.2, the Board may from time to time alter or add
to the rules of the Plan. 
  

	15.2	Rights of existing Option Holders 

 An amendment may not adversely affect the rights of
an existing Option Holder except where the amendment has been approved by the existing Option Holders in such manner as would be required by the Company’s articles of association (with appropriate changes) if the Shares subject to their Options
had been issued or transferred to them (so that they had become shareholders in the Company) and constituted a separate class of shares. 

  
 16 

	15.3	Notification of Option Holders 

 The Board shall, as soon as reasonably practicable,
notify each Option Holder of any amendment to the rules of the Plan under this rule 15 and explain how it affects his position under the Plan. 
  

	16	NOTICES 

  

	16.1	Notice by Grantor or Administrator 

 Any notice, document or other communication given
by, or on behalf of, the Company or the Board to any person in connection with the Plan shall be deemed to have been duly given if sent to him by post, fax or electronically at his place of work, if he is employed within the Group, or sent through
the post in a pre-paid envelope to the address last known to the Company to be his address and, if so sent, shall be deemed to have been duly given on the date of posting. 
  

	16.2	Deceased Option Holders 

 Any notice, document or other communication so sent to an
Option Holder shall be deemed to have been duly given notwithstanding that such Option Holder is then deceased (and whether or not the Company has notice of his death) except where his personal representatives have established their title to the
satisfaction of the Board and supplied to the Board an address to which notices, documents and other communications are to be sent. 
  

	16.3	Notice to the Company 

 Any notice, document or other communication given to the Company
in connection with the Plan shall be sent by post, fax or electronically to the Company Secretary at the Company’s registered office or such other address as may from time to time be notified to Option Holders but shall not in any event be duly
given unless it is actually received at such address. 
  

	16.4	Data Processing 

 Each Option Holder agrees to the receipt, holding and processing of
information in connection with the grant, vesting, exercise, taxation (including social security contributions) and general administration of the Plan and his Options by the Company and any member of the Group and any of their advisers or agents and
to the transmission of any such information outside of the European Economic Area. 
  

	16.5	Third Party Rights 

 The Contracts (Rights of Third Parties) Act 1999 shall not apply to
this Plan nor to any Option and no person other than parties to an Option shall have any rights under it nor shall it be enforceable under that Act by any person other than the parties to it. 

  
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	17	GOVERNING LAW 

 The formation, existence, construction, performance, validity and all
aspects whatsoever of the Plan, any term of the Plan and any Option granted under it shall be governed by English law. The English courts shall have jurisdiction to settle any dispute which may arise out of, or in connection with, the Plan. The
jurisdiction agreement contained in this rule 17 is made for the benefit of the Company only, which accordingly retains the right to bring proceedings in any other court of competent jurisdiction. By accepting the grant of an Option and not
renouncing it, an Option Holder is deemed to have agreed to submit to such jurisdiction. 

  
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 RULES OF THE US SUB-PLAN TO THE NATURALMOTION LIMITED 

OPTION PLAN 2012 (THE “2012 UK PLAN”) 

This plan together with the California supplement (the “US Sub-Plan”) is a sub-plan adopted to permit the grant of options to US resident employees.

  

	1.	DEFINITIONS 

 In this US Sub-Plan, the words and expressions used in the 2012 UK Plan shall bear, unless
the context otherwise requires, the same meaning herein save to the extent the Rules in this US Sub-Plan shall provide to the contrary. 
  

	2.	APPLICATION OF UK PLAN 

 Save as modified in this US Sub-Plan, all the provisions of the 2012 UK Plan
shall be incorporated into this US Sub-Plan as if fully set out herein so as to be part of this US Sub-Plan. 
  

	3.	LIMITS 

 The number of Shares which may be subject to Options under this US Sub-Plan is 2,000,000 Shares.
Notwithstanding Section 3.3 of the 2012 UK Plan, no Option shall be granted under the US Sub Plan unless there shall be sufficient Shares remaining available for issuance under the US Sub Plan pursuant to this Section 3 or the Board shall
have approved such an increase in the Shares available for issuance under the US sub Plan subject to Shareholder approval. 
  

	4.	EFFECTIVE DATE AND TERM OF US SUB-PLAN 

 This US Sub-Plan shall become effective on the date on which it
is adopted by the Board. No Option shall be granted under this US Sub-Plan after the completion of 10 years from the earlier of: 
  

	4.1	the date on which this US Sub-Plan was adopted by the Board, or 

  

	4.2	the date this US Sub-Plan was approved by the Company’s shareholders, 

 but Options previously granted
under this US Sub-Plan may extend beyond that date. 
  

	5.	AMENDMENTS 

 The Board may amend, suspend or terminate this US Sub-Plan or any portion thereof at any
time. 
  

	6.	COMPLIANCE WITH CODE SECTION 409A 

 The Company shall have no liability to an Option Holder, or any other
party, if an Option that is intended to be exempt from, or compliant with, Section 409A of the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”) is not so exempt or compliant or
for any action taken by the Board. 

  
 19 

	7.	NO RIGHT TO EMPLOYMENT OR OTHER STATUS 

 No person shall have any claim or right to be granted an Option
under this US Sub-Plan, and the grant of an Option shall not be construed as giving an Option Holder the right to continued employment or any other relationship with any company within the Group. 

 

	8.	AMENDMENT OF OPTIONS 

 The Board may amend, modify or terminate any outstanding Option, including but not
limited to, substituting therefor another Option of the same or different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory Stock Option, provided that the Option Holder’s consent to
such action shall be required unless the Board determines that the action, taking into account any related action, would not materially and adversely affect the Option Holder. 

 

	9.	CONDITIONS ON DELIVERY OF SHARES 

 The Company will not be obligated to deliver any Shares pursuant to
this US Sub-Plan or to remove restrictions from Shares previously delivered under this US Sub-Plan until: 
  

	9.1	all conditions of the Option have been met or removed to the satisfaction of the Company, 

  

	9.2	in the opinion of the Company’s counsel, all other legal matters in connection with the issue, allotment and delivery of such shares have been satisfied, including any applicable securities laws and any applicable
stock exchange or stock market rules and regulations, and 

  

	9.3	the Option Holder has executed and delivered to the Company such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules or regulations.

  

	10.	GRANT OF OPTIONS 

  

	10.1	An option which is not intended to be an Incentive Stock Option (as hereinafter defined) shall be designated a “Nonstatutory Stock Option”. 

 

	10.2	The Exercise Price of (a) an Option intended to be an Incentive Stock Option and (b) any Non-statutory Stock Option granted to a US tax resident shall be not less than 100% of the fair market value of a Share
on the date on which the Option is granted (which shall be determined by the Board and shall not be less than the nominal value of a Share) unless, in the case of (b) such Option is structured to comply with Section 409A of the Code.

  

	10.3	 An Option that the Board intend to be an “incentive stock option” as defined in Section 422 of the Code (an “Incentive Stock
Option”) shall only be granted to Eligible Employees who are also employees of the Company, any of the Company’s present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Code, and any other
entities the employees of which are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall be construed consistently with the requirements of Section 422 of the Code. The Company shall

  
 20 

	 	
have no liability to an Option Holder, or any other party, if an Option (or any part thereof) that is intended to be an Incentive Stock Option is not an Incentive Stock Option or for any action
taken by the Board to amend, modify or terminate the rules of the UK Plan, this US Sub-Plan or any Option, including without limitation the conversion of an Incentive Stock Option to a Nonstatutory Stock Option. 

 

	10.4	Unless otherwise provided by the Board in their sole discretion, no portion of any Option shall vest after termination of an Option Holder’s employment within the Group.  

 

	10.5	Notwithstanding Rule 6.1 of the UK Plan, where an Option Holder ceases to be an Eligible Employee by reason of his death his Option will be capable of transfer in accordance with the Option Holder’s will, or the
laws of decent and distribution. 

  

	10.6	Shares purchased upon the exercise of an Option granted under this US Sub-Plan shall be paid for as follows: 

  

	 	(a)	in cash or by check, payable to the order of the Company; 

  

	 	(b)	except as may otherwise be provided in the applicable Option agreement, by: 

  

	 	(i)	delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding; or 

 

	 	(ii)	delivery by the Option Holder to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and
any required tax withholding; 

  

	 	(c)	to the extent provided for in the applicable Option agreement or approved by the Board, in their sole discretion, by delivery (either by actual delivery or attestation) of shares in the capital of the Company owned by
the Option Holder valued at their fair market value as determined by (or in a manner approved by) the Board (“Fair Market Value”), provided: 

  

	 	(i)	such method of payment is then permitted under applicable law; 

  

	 	(ii)	such shares, if acquired directly from the Company, were owned by the Option Holder for such minimum period of time, if any, as may be established by the Board in their discretion; and 

 

	 	(iii)	such shares are not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements; 

  

	 	(d)	to the extent permitted by applicable law and provided for in the applicable option agreement or approved by the Board, in their sole discretion, by: 

 

	 	(i)	delivery of a promissory note of the Option Holder to the Company on terms determined by the Board, or 

  

	 	(ii)	payment of such other lawful consideration as the Board may determine; or 

  
 21 

	 	(e)	by any combination of the above permitted forms of payment. 

  

	11.	EXERCISE OF OPTIONS IN SPECIAL CIRCUMSTANCES 

 If an Option Holder becomes disabled
(within the meaning of Section 22(e)(3) of the Code) before the tenth anniversary of the Date of Grant, the period of 3 months for the exercise of Options provided in Rule 6.2 of the UK Plan shall not apply for the purposes of this US Sub-Plan.
Instead, in such circumstances, Options may be exercised for a period of 12 months following the date of disability but in no event later than the tenth anniversary of the relevant Date of Grant. 

 

	12.	DISQUALIFYING DISPOSITION 

 If the Option Holder disposes of Shares acquired upon
exercise of an Incentive Stock Option within two years from the Date of Grant or one year after such Shares were acquired pursuant to exercise of such option, the Option Holder shall notify the Company in writing of such disposition. 

 

	13.	ADJUSTMENTS 

 In the event of any variation of the share capital of the Company by
way of capitalization or rights issue, or sub-division, consolidation or reduction or any other variation in the share capital of the Company after the Date of Grant of any Option: (i) the number or amount of Shares that are the subject of an
Option; (ii) the relative Exercise Price; and (iii) the limits on Options set forth in Section 3 hereof must be adjusted proportionately; PROVIDED THAT the Exercise Price in relation to any Option to subscribe for Shares is not
reduced below the nominal value of a Share. 
  

	14.	GOVERNING LAW AND JURISDICTION 

  

	14.1	US Sub-Plan governed by English law 

 The formation, existence, construction,
performance, validity and all aspects whatsoever of this US Sub-Plan, any term of this US Sub-Plan and any Option granted under it shall be governed by English law. 
  

	14.2	English courts to have jurisdiction 

 The English courts shall have jurisdiction to
settle any dispute which may arise out of, or in connection with, this US Sub-Plan. 

  
 22 

 CALIFORNIA SUPPLEMENT 

The Board have adopted this supplement for purposes of satisfying the requirements of Section 25102(o) of the California Law: 

Any Options granted under the US Sub-Plan to the 2012 UK Plan to an Option Holder who is a resident of the State of California on the date of grant (a
“California Option Holder”) shall be subject to the following additional limitations, terms and conditions: 
  

	1.	Additional Limitations on Options. 

  

	1.1	Maximum Duration of Options. No Options granted to California Option Holders shall have a term in excess of 120 months measured from the Date of Grant. 

 

	1.2	Minimum Exercise Period Following Termination. Unless a California Option Holder’s employment is terminated for cause (as defined by applicable law, the terms of any contract of employment between the Company and
such Option Holder, or in the instrument evidencing the grant of such Option Holder’s Option), in the event of termination of employment of such Option Holder, such Option Holder shall have the right to exercise an Option, to the extent that he
or she was otherwise entitled to exercise such Option on the date employment terminated, until the earlier of: (i) at least six months from the date of termination, if termination was caused by such Option Holder’s death or “permanent
and total disability” (within the meaning of Section 22(e)(3) of the Code), (ii) at least 30 days from the date of termination, if termination was caused other than by such Option Holder’s death or “permanent and total
disability” (within the meaning of Section 22(e)(3) of the Code) and (iii) the Option expiration date. 

  

	2.	Additional Limitations on Timing of Awards.  

 No Option granted to a California
Option Holder shall become exercisable, vested or realizable, as applicable to such Option, unless the US Sub-Plan has been approved by the holders of a majority of the Company’s outstanding voting securities by the later of (i) within
12 months before or after the date the US Sub-Plan was adopted by the Board or (ii) prior to or within 12 months of the granting of any Option to a California Option Holder. 

  
 23

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